Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Oct. 31, 2023 | |
Entity Registrant Name | ENTERGY CORPORATION | |
City Area Code | 504 | |
Local Phone Number | 576-4000 | |
Entity Tax Identification Number | 72-1229752 | |
Entity File Number | 1-11299 | |
Entity Central Index Key | 0000065984 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2023 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, State or Province | 639 Loyola Avenue | |
Entity Address, City or Town | New Orleans | |
Entity Address, State or Province | LA | |
Entity Address, Postal Zip Code | 70113 | |
Entity Common Stock, Shares Outstanding | 211,473,074 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Document Transition Report | false | |
NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ETR | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Common Stock, $0.01 Par Value | |
CHICAGO STOCK EXCHANGE, INC [Member] | ||
Trading Symbol | ETR | |
Security Exchange Name | CHX | |
Title of 12(b) Security | Common Stock, $0.01 Par Value | |
Entergy Arkansas [Member] | ||
Entity Registrant Name | ENTERGY ARKANSAS, LLC | |
City Area Code | 501 | |
Local Phone Number | 377-4000 | |
Entity Tax Identification Number | 83-1918668 | |
Entity File Number | 1-10764 | |
Entity Central Index Key | 0000007323 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 425 West Capitol Avenue | |
Entity Address, City or Town | Little Rock | |
Entity Address, State or Province | AR | |
Entity Address, Postal Zip Code | 72201 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entergy Louisiana [Member] | ||
Entity Registrant Name | ENTERGY LOUISIANA, LLC | |
City Area Code | 504 | |
Local Phone Number | 576-4000 | |
Entity Tax Identification Number | 47-4469646 | |
Entity File Number | 1-32718 | |
Entity Central Index Key | 0001348952 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 4809 Jefferson Highway | |
Entity Address, City or Town | Jefferson | |
Entity Address, State or Province | LA | |
Entity Address, Postal Zip Code | 70121 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entergy Mississippi [Member] | ||
Entity Registrant Name | ENTERGY MISSISSIPPI, LLC | |
City Area Code | 601 | |
Local Phone Number | 368-5000 | |
Entity Tax Identification Number | 83-1950019 | |
Entity File Number | 1-31508 | |
Entity Central Index Key | 0000066901 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 308 East Pearl Street | |
Entity Address, City or Town | Jackson | |
Entity Address, State or Province | MS | |
Entity Address, Postal Zip Code | 39201 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entergy New Orleans [Member] | ||
Entity Registrant Name | ENTERGY NEW ORLEANS, LLC | |
City Area Code | 504 | |
Local Phone Number | 670-3702 | |
Entity Tax Identification Number | 82-2212934 | |
Entity File Number | 1-35747 | |
Entity Central Index Key | 0000071508 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 1600 Perdido Street | |
Entity Address, City or Town | New Orleans | |
Entity Address, State or Province | LA | |
Entity Address, Postal Zip Code | 70112 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entergy Texas [Member] | ||
Entity Registrant Name | ENTERGY TEXAS, INC. | |
City Area Code | 409 | |
Local Phone Number | 981-2000 | |
Entity Tax Identification Number | 61-1435798 | |
Entity File Number | 1-34360 | |
Entity Central Index Key | 0001427437 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 2107 Research Forest Drive | |
Entity Address, City or Town | The Woodlands | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 77380 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
System Energy [Member] | ||
Entity Registrant Name | SYSTEM ENERGY RESOURCES, INC. | |
City Area Code | 601 | |
Local Phone Number | 368-5000 | |
Entity Tax Identification Number | 72-0752777 | |
Entity File Number | 1-09067 | |
Entity Central Index Key | 0000202584 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | AR | |
Entity Address, State or Province | 1340 Echelon Parkway | |
Entity Address, City or Town | Jackson | |
Entity Address, State or Province | MS | |
Entity Address, Postal Zip Code | 39213 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Mortgage Bonds, Five Point Five Percent Series, Due April Two Thousand Sixty Six [Member] | Entergy New Orleans [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ENO | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 5.50% Series due April 2066 | |
Mortgage Bonds 5.0 Series Due December Two Thousand Fifty Two [Member] | Entergy New Orleans [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ENJ | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 5.0% Series due December 2052 | |
Mortgage Bonds, Four Point Nine Zero Percent Series, Due October Two Thousand Sixty Six [Member] | Entergy Mississippi [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | EMP | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 4.90% Series due October 2066 | |
Four Point Eight Seven Five Percent Series First Mortgage Bonds Due September Two Thousand Sixty Six [Member] | Entergy Arkansas [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | EAI | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 4.875% Series due September 2066 | |
Four Point Eight Seven Five Percent Series First Mortgage Bonds Due September Two Thousand Sixty Six [Member] | Entergy Louisiana [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ELC | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 4.875% Series due September 2066 | |
5.375% Series A Preferred Stock, Cumulative, No Par Value [Domain] | Entergy Texas [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ETI/PR | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | 5.375% Series A Preferred Stock, Cumulative, No Par Value (Liquidation Value $25 Per Share) |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,595,522 | $ 4,218,615 | $ 9,422,607 | $ 10,491,737 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 707,491 | 1,366,811 | 2,189,592 | 2,685,694 |
Utilities Operating Expense, Purchased Power | 309,376 | 415,066 | 754,199 | 1,255,318 |
Nuclear refueling outage expenses | 39,057 | 39,707 | 111,075 | 119,625 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 751,763 | 793,145 | 2,043,184 | 2,249,674 |
Asset Impairment Charges | 38,078 | (143) | 38,078 | (163,464) |
Decommissioning | 52,336 | 49,263 | 153,981 | 174,171 |
Taxes, Other | 197,654 | 190,056 | 566,669 | 542,448 |
Other Depreciation and Amortization | 439,873 | 453,288 | 1,362,728 | 1,337,019 |
Other regulatory charges (credits) - net | (83,489) | (43,283) | (158,317) | 689,355 |
Costs and Expenses | 2,452,139 | 3,263,910 | 7,061,189 | 8,889,840 |
OPERATING INCOME | 1,143,383 | 954,705 | 2,361,418 | 1,601,897 |
OTHER INCOME (DEDUCTIONS) | ||||
Allowance for equity funds used during construction | 24,225 | 20,245 | 72,238 | 49,685 |
Investment Income, Net | 2,562 | 2,966 | 96,250 | (118,002) |
Miscellaneous - net | (18,018) | (10,462) | (121,014) | 32,720 |
TOTAL | 8,769 | 12,749 | 47,474 | (35,597) |
INTEREST EXPENSE | ||||
Interest Expense, Debt | 264,934 | 235,322 | 781,613 | 694,558 |
Allowance for borrowed funds used during construction | (9,493) | (7,862) | (29,565) | (18,710) |
TOTAL | 255,441 | 227,460 | 752,048 | 675,848 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 896,711 | 739,994 | 1,656,844 | 890,452 |
Income taxes | 226,997 | 184,112 | 282,818 | (109,034) |
Consolidated net income | 669,714 | 555,882 | 1,374,026 | 999,486 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | $ 2,959 | $ (4,707) | $ 5,092 | $ 2,794 |
Earnings per average common share: | ||||
Basic (in dollars per share) | $ 3.15 | $ 2.76 | $ 6.47 | $ 4.90 |
Diluted (in dollars per share) | $ 3.14 | $ 2.74 | $ 6.45 | $ 4.88 |
Basic average number of common shares outstanding (in shares) | 211,459,244 | 203,445,773 | 211,420,117 | 203,259,373 |
Diluted average number of common shares outstanding (in shares) | 212,238,117 | 204,578,013 | 212,195,735 | 204,357,916 |
Net Income (Loss) Available to Common Stockholders, Basic | $ 666,755 | $ 560,589 | $ 1,368,934 | $ 996,692 |
Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,526,935 | 4,110,058 | 9,195,588 | 10,024,089 |
Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 32,305 | 46,548 | 130,389 | 166,917 |
Competitive Businesses [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 36,282 | 62,009 | 96,630 | 300,731 |
Entergy Mississippi [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 538,815 | 459,132 | 1,396,373 | 1,213,620 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 151,755 | 86,145 | 453,570 | 197,093 |
Utilities Operating Expense, Purchased Power | 89,465 | 84,653 | 212,419 | 235,211 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 78,959 | 82,698 | 217,377 | 223,407 |
Taxes, Other | 42,374 | 37,045 | 113,409 | 102,259 |
Other Depreciation and Amortization | 66,760 | 61,921 | 196,135 | 182,623 |
Other regulatory charges (credits) - net | (25,470) | (11,470) | (84,260) | 16,290 |
Costs and Expenses | 403,843 | 340,992 | 1,108,650 | 956,883 |
OPERATING INCOME | 134,972 | 118,140 | 287,723 | 256,737 |
OTHER INCOME (DEDUCTIONS) | ||||
Allowance for equity funds used during construction | 2,260 | 1,606 | 6,313 | 4,179 |
Investment Income, Net | 107 | 136 | 1,890 | 234 |
Miscellaneous - net | (3,828) | 181 | (9,349) | 17 |
TOTAL | (1,461) | 1,923 | (1,146) | 4,430 |
INTEREST EXPENSE | ||||
Interest Expense, Debt | 25,257 | 22,473 | 74,634 | 63,910 |
Allowance for borrowed funds used during construction | (911) | (753) | (2,596) | (1,876) |
TOTAL | 24,346 | 21,720 | 72,038 | 62,034 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 109,165 | 98,343 | 214,539 | 199,133 |
Income taxes | 26,428 | 23,454 | 52,597 | 44,935 |
Consolidated net income | 82,737 | 74,889 | 161,942 | 154,198 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | (1,640) | (9,117) | (7,404) | (9,117) |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 84,377 | 84,006 | 169,346 | 163,315 |
Entergy Mississippi [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 538,815 | 459,132 | 1,396,373 | 1,213,620 |
Entergy Mississippi [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Entergy Arkansas [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 831,659 | 864,502 | 2,030,755 | 2,120,397 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 156,778 | 210,099 | 372,637 | 499,119 |
Utilities Operating Expense, Purchased Power | 74,837 | 74,941 | 197,236 | 182,621 |
Nuclear refueling outage expenses | 14,772 | 14,259 | 45,617 | 42,539 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 196,408 | 204,199 | 531,271 | 548,775 |
Asset Impairment Charges | 78,434 | 0 | 78,434 | 0 |
Decommissioning | 21,989 | 20,731 | 65,006 | 61,288 |
Taxes, Other | 40,157 | 39,545 | 107,251 | 104,819 |
Other Depreciation and Amortization | 101,957 | 96,746 | 298,105 | 288,904 |
Other regulatory charges (credits) - net | (26,380) | (27,054) | (66,409) | (69,114) |
Costs and Expenses | 658,952 | 633,466 | 1,629,148 | 1,658,951 |
OPERATING INCOME | 172,707 | 231,036 | 401,607 | 461,446 |
OTHER INCOME (DEDUCTIONS) | ||||
Allowance for equity funds used during construction | 5,579 | 4,811 | 15,822 | 11,786 |
Investment Income, Net | 4,627 | 4,284 | 17,833 | 13,444 |
Miscellaneous - net | (8,030) | (6,356) | (16,370) | (16,640) |
TOTAL | 2,176 | 2,739 | 17,285 | 8,590 |
INTEREST EXPENSE | ||||
Interest Expense, Debt | 47,648 | 38,123 | 139,053 | 111,622 |
Allowance for borrowed funds used during construction | (2,241) | (1,912) | (6,355) | (4,684) |
TOTAL | 45,407 | 36,211 | 132,698 | 106,938 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 129,476 | 197,564 | 286,194 | 363,098 |
Income taxes | 30,307 | 48,217 | 60,681 | 85,074 |
Consolidated net income | 99,169 | 149,347 | 225,513 | 278,024 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | (791) | (724) | (3,426) | (2,640) |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 99,960 | 150,071 | 228,939 | 280,664 |
Entergy Arkansas [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 831,659 | 864,502 | 2,030,755 | 2,120,397 |
Entergy Arkansas [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Entergy Louisiana [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,434,867 | 2,020,798 | 3,985,687 | 4,802,555 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 242,886 | 833,885 | 848,521 | 1,449,464 |
Utilities Operating Expense, Purchased Power | 162,934 | 251,582 | 491,244 | 848,328 |
Nuclear refueling outage expenses | 17,569 | 18,966 | 45,430 | 40,942 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 285,251 | 298,710 | 781,339 | 846,457 |
Decommissioning | 19,138 | 18,137 | 56,544 | 53,736 |
Taxes, Other | 60,360 | 60,346 | 185,978 | 180,527 |
Other Depreciation and Amortization | 184,188 | 176,403 | 541,530 | 517,205 |
Other regulatory charges (credits) - net | (21,470) | (9,959) | 27,759 | 172,605 |
Costs and Expenses | 950,856 | 1,648,070 | 2,978,345 | 4,109,264 |
OPERATING INCOME | 484,011 | 372,728 | 1,007,342 | 693,291 |
OTHER INCOME (DEDUCTIONS) | ||||
Allowance for equity funds used during construction | 6,945 | 8,280 | 24,660 | 17,865 |
Investment Income, Net | (11,482) | (8,861) | 49,241 | (93,241) |
Miscellaneous - net | (6,411) | 6,835 | (97,079) | 59,338 |
TOTAL | 70,023 | 61,617 | 195,096 | 114,426 |
INTEREST EXPENSE | ||||
Interest Expense, Debt | 93,857 | 92,020 | 285,959 | 278,559 |
Allowance for borrowed funds used during construction | (3,019) | (3,518) | (11,733) | (7,762) |
TOTAL | 90,838 | 88,502 | 274,226 | 270,797 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 463,196 | 345,843 | 928,212 | 536,920 |
Income taxes | 103,889 | 71,453 | 61,621 | (204,989) |
Consolidated net income | 359,307 | 274,390 | 866,591 | 741,909 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 810 | 554 | 2,183 | 812 |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 358,497 | 273,836 | 864,408 | 741,097 |
Entergy Louisiana [Member] | Affiliated Entity | ||||
OTHER INCOME (DEDUCTIONS) | ||||
Investment Income, Net | 80,971 | 55,363 | 218,274 | 130,464 |
Entergy Louisiana [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,421,598 | 2,003,009 | 3,933,259 | 4,738,188 |
Entergy Louisiana [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 13,269 | 17,789 | 52,428 | 64,367 |
Entergy New Orleans [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 254,316 | 291,663 | 651,152 | 744,184 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 28,922 | 81,847 | 99,920 | 180,059 |
Utilities Operating Expense, Purchased Power | 68,115 | 88,103 | 200,664 | 227,661 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 45,273 | 38,806 | 117,461 | 116,173 |
Taxes, Other | 17,251 | 12,920 | 48,155 | 41,353 |
Other Depreciation and Amortization | 20,831 | 19,556 | 60,470 | 57,322 |
Other regulatory charges (credits) - net | 4,946 | 5,452 | 6,133 | 14,991 |
Costs and Expenses | 185,338 | 246,684 | 532,803 | 637,559 |
OPERATING INCOME | 68,978 | 44,979 | 118,349 | 106,625 |
OTHER INCOME (DEDUCTIONS) | ||||
Allowance for equity funds used during construction | 332 | 396 | 1,062 | 316 |
Investment Income, Net | 1,535 | 215 | 5,986 | 307 |
Miscellaneous - net | (1,943) | (184) | (2,687) | 766 |
TOTAL | (76) | 427 | 4,361 | 1,389 |
INTEREST EXPENSE | ||||
Interest Expense, Debt | 9,171 | 8,683 | 28,793 | 26,075 |
Allowance for borrowed funds used during construction | (161) | (215) | (516) | (255) |
TOTAL | 9,010 | 8,468 | 28,277 | 25,820 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 59,892 | 36,938 | 94,433 | 82,194 |
Income taxes | 16,347 | 10,023 | 26,889 | 20,607 |
Consolidated net income | 43,545 | 26,915 | 67,544 | 61,587 |
Entergy New Orleans [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 235,280 | 262,904 | 573,191 | 641,634 |
Entergy New Orleans [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 19,036 | 28,759 | 77,961 | 102,550 |
Entergy Texas [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 616,595 | 659,556 | 1,588,531 | 1,696,629 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 94,099 | 113,154 | 325,155 | 247,929 |
Utilities Operating Expense, Purchased Power | 131,927 | 208,703 | 352,568 | 564,809 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 85,929 | 83,014 | 213,430 | 230,580 |
Taxes, Other | 28,372 | 29,886 | 85,085 | 73,817 |
Other Depreciation and Amortization | 76,888 | 58,472 | 202,288 | 171,781 |
Other regulatory charges (credits) - net | (5,909) | 8,072 | 6,541 | 43,917 |
Costs and Expenses | 411,306 | 501,301 | 1,185,067 | 1,332,833 |
OPERATING INCOME | 205,289 | 158,255 | 403,464 | 363,796 |
OTHER INCOME (DEDUCTIONS) | ||||
Allowance for equity funds used during construction | 7,244 | 3,616 | 19,093 | 9,375 |
Investment Income, Net | 2,741 | 1,062 | 5,004 | 1,597 |
Miscellaneous - net | (619) | (1,655) | (2,121) | (1,757) |
TOTAL | 9,366 | 3,023 | 21,976 | 9,215 |
INTEREST EXPENSE | ||||
Interest Expense, Debt | 29,524 | 24,613 | 83,333 | 68,626 |
Allowance for borrowed funds used during construction | (2,714) | (1,218) | (7,127) | (3,150) |
TOTAL | 26,810 | 23,395 | 76,206 | 65,476 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 187,845 | 137,883 | 349,234 | 307,535 |
Income taxes | 37,756 | 19,881 | 69,015 | 41,645 |
Consolidated net income | 150,089 | 118,002 | 280,219 | 265,890 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 518 | 518 | 1,554 | 1,554 |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 149,571 | 117,484 | 278,665 | 264,336 |
Entergy Texas [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 616,595 | 659,556 | 1,588,531 | 1,696,629 |
Entergy Texas [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
System Energy [Member] | ||||
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 18,881 | 12,125 | 56,511 | 31,658 |
Nuclear refueling outage expenses | 6,717 | 6,483 | 20,028 | 17,730 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 52,623 | 69,719 | 149,809 | 168,308 |
Decommissioning | 10,495 | 10,117 | 31,173 | 30,050 |
Taxes, Other | 7,261 | 7,430 | 22,271 | 22,431 |
Other Depreciation and Amortization | (11,597) | 38,742 | 60,843 | 106,442 |
Other regulatory charges (credits) - net | (9,207) | (8,324) | (48,081) | 510,667 |
Costs and Expenses | 75,173 | 136,292 | 292,554 | 887,286 |
OPERATING INCOME | 44,294 | 43,508 | 136,869 | (402,238) |
OTHER INCOME (DEDUCTIONS) | ||||
Allowance for equity funds used during construction | 1,866 | 1,536 | 5,289 | 6,164 |
Investment Income, Net | 2,738 | 3,669 | 10,140 | (58) |
Miscellaneous - net | (1,405) | (9,028) | (12,096) | (13,408) |
TOTAL | 3,199 | (3,823) | 3,333 | (7,302) |
INTEREST EXPENSE | ||||
Interest Expense, Debt | 12,199 | 9,189 | 36,325 | 27,782 |
Allowance for borrowed funds used during construction | (448) | (246) | (1,239) | (982) |
TOTAL | 11,751 | 8,943 | 35,086 | 26,800 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 35,742 | 30,742 | 105,116 | (436,340) |
Income taxes | 8,045 | 3,385 | 24,115 | (114,981) |
Consolidated net income | 27,697 | 27,357 | 81,001 | (321,359) |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 27,697 | 27,357 | 81,001 | (321,359) |
System Energy [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 119,467 | $ 179,800 | $ 429,423 | $ 485,048 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
OPERATING ACTIVITIES | ||
Consolidated net income | $ 1,374,026 | $ 999,486 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 1,668,540 | 1,667,756 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 257,210 | (76,672) |
Asset Impairment Charges | 38,078 | (163,464) |
Changes in working capital: | ||
Receivables | (217,483) | (368,772) |
Fuel inventory | (34,601) | 19,433 |
Accounts payable | (304,264) | (59,787) |
Taxes accrued | 107,899 | 89,554 |
Interest accrued | 66,571 | 38,361 |
Deferred fuel costs | 620,440 | (821,386) |
Other working capital accounts | (137,061) | (124,677) |
Changes in provisions for estimated losses | (7,171) | 297,842 |
Changes in regulatory assets | 415,101 | 587,128 |
Increase (Decrease) in Regulatory Liabilities | 204,817 | (116,315) |
Storm restoration costs approved for securitization recognized as regulatory asset | (491,150) | (1,036,955) |
Changes in pension and other postretirement liabilities | (347,886) | (258,141) |
Other Operating Activities, Cash Flow Statement | 17,927 | 1,136,050 |
Net cash flow provided by operating activities | 3,230,993 | 1,809,441 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (3,373,617) | (3,853,121) |
Allowance for equity funds used during construction | 72,238 | 49,685 |
Nuclear fuel purchases | (201,213) | (125,619) |
Payments for Nuclear Fuel | (201,213) | (125,619) |
Proceeds from insurance | 19,493 | 0 |
Proceeds from Legal Settlements | 0 | 9,829 |
Payments to storm reserve escrow accounts | (14,320) | (1,291,593) |
Increase in other investments | (4,998) | (33,238) |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 23,655 | 32,367 |
Proceeds from nuclear decommissioning trust fund sales | 806,658 | 1,377,304 |
Investment in nuclear decommissioning trust funds | (882,686) | (1,422,808) |
Changes in securitization account | (4,839) | 1,224 |
Net cash flow used in investing activities | (3,579,062) | (4,368,967) |
Payments for (Proceeds from) Other Investing Activities | 4,998 | 33,238 |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | (3,605,237) | (5,316,693) |
Proceeds from Sale of Treasury Stock | 5,184 | 31,802 |
Retirement of long-term debt | (3,384,007) | (4,998,642) |
Proceeds from securitization | 1,457,676 | 3,163,572 |
Dividends paid: | ||
Common stock | (678,699) | (615,937) |
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | 13,739 | 13,739 |
Other | 102,835 | 41,659 |
Net cash flow provided by financing activities | 1,643,679 | 3,120,458 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 1,295,610 | 560,932 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 1,519,774 | 1,003,491 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 685,231 | 631,211 |
Income taxes | 35,291 | (7,412) |
Proceeds from (Repayments of) Short-Term Debt | 523,484 | 185,455 |
Proceeds from Sale of Restricted Investments | 0 | 1,000,278 |
Payments to Acquire Productive Assets | (30,433) | (106,193) |
Net proceeds (payments) from sale of assets | 11,000 | (7,082) |
Proceeds from Noncontrolling Interests | 25,708 | 9,595 |
Entergy Arkansas [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 225,513 | 278,024 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 413,018 | 403,929 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 59,931 | 85,012 |
Asset Impairment Charges | 78,434 | 0 |
Changes in working capital: | ||
Receivables | (45,742) | (129,679) |
Fuel inventory | 8,001 | 7,430 |
Accounts payable | (71,533) | 77,849 |
Taxes accrued | 15,033 | (4,838) |
Interest accrued | 35,534 | 32,360 |
Deferred fuel costs | 165,982 | (27,724) |
Other working capital accounts | (12,517) | 13,963 |
Changes in provisions for estimated losses | (24,356) | (1,840) |
Changes in regulatory assets | (455) | (54,449) |
Increase (Decrease) in Regulatory Liabilities | 68,475 | (305,972) |
Changes in pension and other postretirement liabilities | (55,944) | (58,966) |
Other Operating Activities, Cash Flow Statement | (96,988) | 360,258 |
Net cash flow provided by operating activities | 762,386 | 675,357 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (768,243) | (552,919) |
Allowance for equity funds used during construction | 15,822 | 11,786 |
Nuclear fuel purchases | (93,775) | (56,984) |
Payments for Nuclear Fuel | (93,775) | (56,984) |
Proceeds from sale of nuclear fuel | 32,880 | 37,198 |
Change in money pool receivable - net | (11,104) | (1,808) |
Increase in other investments | 106 | 0 |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 17,933 | 0 |
Proceeds from nuclear decommissioning trust fund sales | 87,878 | 174,893 |
Investment in nuclear decommissioning trust funds | (104,348) | (190,244) |
Net cash flow used in investing activities | (822,851) | (579,122) |
Payments for (Proceeds from) Other Investing Activities | (106) | 0 |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | (991,606) | (225,625) |
Retirement of long-term debt | (515,615) | (21,316) |
Change in money pool payable - net | (180,795) | (139,904) |
Dividends paid: | ||
Common stock | (142,000) | (86,000) |
Other | 15,390 | (8,424) |
Net cash flow provided by financing activities | 168,586 | (30,019) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 108,121 | 66,216 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 113,399 | 79,131 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 101,616 | 77,625 |
Payments to Acquire Productive Assets | 0 | (1,044) |
Entergy Louisiana [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 866,591 | 741,909 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 650,800 | 633,124 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 127,074 | (84,719) |
Changes in working capital: | ||
Receivables | (54,518) | (193,374) |
Fuel inventory | (19,194) | 1,920 |
Accounts payable | (153,749) | (117,199) |
Taxes accrued | 57,979 | (9,415) |
Interest accrued | (9,687) | 3,244 |
Deferred fuel costs | 133,090 | (272,259) |
Other working capital accounts | (262,001) | (161,058) |
Changes in provisions for estimated losses | 7,249 | 292,013 |
Changes in regulatory assets | 390,864 | 741,131 |
Increase (Decrease) in Regulatory Liabilities | 200,267 | (92,554) |
Storm restoration costs approved for securitization recognized as regulatory asset | (491,150) | (1,190,338) |
Changes in pension and other postretirement liabilities | (43,909) | (29,538) |
Other Operating Activities, Cash Flow Statement | (30,918) | 358,570 |
Net cash flow provided by operating activities | 1,368,788 | 621,457 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (1,194,315) | (2,099,909) |
Allowance for equity funds used during construction | 24,660 | 17,865 |
Nuclear fuel purchases | (136,357) | (84,606) |
Payments for Nuclear Fuel | (136,357) | (84,606) |
Proceeds from sale of nuclear fuel | 16,733 | 37,634 |
Change in money pool receivable - net | (79,136) | 9,757 |
Proceeds from insurance | 19,493 | 0 |
Proceeds from Legal Settlements | 0 | 5,695 |
Payments to storm reserve escrow accounts | (10,463) | (1,291,431) |
Payments to Acquire Interest in Subsidiaries and Affiliates | 1,457,676 | 3,163,572 |
Increase in other investments | 396 | 0 |
Proceeds from nuclear decommissioning trust fund sales | 473,394 | 520,412 |
Investment in nuclear decommissioning trust funds | (516,047) | (540,653) |
Net cash flow used in investing activities | (2,734,954) | (4,197,993) |
Payments for (Proceeds from) Other Investing Activities | (396) | 0 |
Proceeds from (Repurchase of) Equity | 124,364 | 1,390,587 |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | (1,196,927) | (2,673,246) |
Retirement of long-term debt | (1,505,325) | (2,734,524) |
Proceeds from securitization | 1,457,676 | 3,163,572 |
Proceeds from Contributed Capital | 1,457,676 | 1,000,000 |
Change in money pool payable - net | (226,114) | 0 |
Dividends paid: | ||
Common stock | (318,000) | (374,500) |
Other | 39,993 | 25,866 |
Net cash flow provided by financing activities | 2,102,833 | 3,753,660 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 736,667 | 177,124 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 793,280 | 195,697 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 288,987 | 266,522 |
Income taxes | (6,037) | 0 |
Proceeds from Sale of Restricted Investments | 0 | 1,000,228 |
Entergy Mississippi [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 161,942 | 154,198 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 196,135 | 182,623 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 23,405 | 45,811 |
Changes in working capital: | ||
Receivables | (52,905) | (50,712) |
Fuel inventory | (1,746) | (2,856) |
Accounts payable | (56,477) | 34,776 |
Taxes accrued | 14,269 | (12,542) |
Interest accrued | 11,334 | 11,171 |
Deferred fuel costs | 215,892 | (214,459) |
Other working capital accounts | (24,420) | (23,012) |
Changes in provisions for estimated losses | 2,627 | (461) |
Changes in regulatory assets | (35,970) | (53,830) |
Increase (Decrease) in Regulatory Liabilities | (52,712) | 31,682 |
Changes in pension and other postretirement liabilities | (22,529) | (18,489) |
Other Operating Activities, Cash Flow Statement | 30,059 | 17,691 |
Net cash flow provided by operating activities | 408,904 | 101,591 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (435,188) | (368,151) |
Allowance for equity funds used during construction | 6,313 | 4,179 |
Change in money pool receivable - net | 26,879 | 40,456 |
Increase in other investments | (1,076) | (111) |
Net cash flow used in investing activities | (433,505) | (428,776) |
Payments for (Proceeds from) Other Investing Activities | 1,076 | 111 |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | (396,853) | (249,298) |
Retirement of long-term debt | (400,000) | 0 |
Change in money pool payable - net | 23,893 | 19,319 |
Dividends paid: | ||
Common stock | (40,000) | 0 |
Other | 11,484 | 4,243 |
Net cash flow provided by financing activities | 17,938 | 282,455 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | (6,663) | (44,730) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 10,316 | 2,897 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 61,352 | 50,719 |
Payments to Acquire Productive Assets | (30,433) | (105,149) |
Proceeds from Noncontrolling Interests | 25,708 | 9,595 |
Entergy New Orleans [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 67,544 | 61,587 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 60,470 | 57,322 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 23,529 | 22,429 |
Changes in working capital: | ||
Receivables | 5,119 | (9,022) |
Fuel inventory | 2,909 | (3,245) |
Accounts payable | (28,968) | 3,319 |
Taxes accrued | 734 | (4,241) |
Interest accrued | 2,195 | (204) |
Deferred fuel costs | 8,025 | (33,301) |
Other working capital accounts | 14,598 | (5,973) |
Changes in provisions for estimated losses | 6,585 | 8,409 |
Changes in regulatory assets | 8,597 | 24,449 |
Increase (Decrease) in Regulatory Liabilities | 17,878 | (8,921) |
Changes in pension and other postretirement liabilities | (4,506) | (6,598) |
Other Operating Activities, Cash Flow Statement | 923 | (9,816) |
Net cash flow provided by operating activities | 185,632 | 96,194 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (128,477) | (163,403) |
Allowance for equity funds used during construction | 1,062 | 316 |
Change in money pool receivable - net | 135,427 | 35,977 |
Increase in other investments | (2,661) | 0 |
Changes in securitization account | (3,437) | (3,474) |
Net cash flow used in investing activities | 1,914 | (130,584) |
Payments for (Proceeds from) Other Investing Activities | 2,661 | 0 |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | (14,630) | 0 |
Retirement of long-term debt | (106,073) | (5,916) |
Dividends paid: | ||
Other | (760) | 425 |
Net cash flow provided by financing activities | (77,203) | 9,509 |
Proceeds from Contribution in Aid of Construction | 15,000 | 15,000 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 110,343 | (24,881) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 114,807 | 17,981 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 25,545 | 25,231 |
Income taxes | 1,600 | 0 |
Entergy Texas [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 280,219 | 265,890 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 202,288 | 171,781 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 57,279 | 57,532 |
Changes in working capital: | ||
Receivables | (40,609) | (63,743) |
Fuel inventory | (25,734) | 16,868 |
Accounts payable | (9,871) | 77,740 |
Taxes accrued | (29,995) | 2,520 |
Interest accrued | 13,612 | (4,832) |
Deferred fuel costs | 97,451 | (273,644) |
Other working capital accounts | (23,042) | (11,927) |
Changes in provisions for estimated losses | 511 | (414) |
Changes in regulatory assets | (17,997) | (130,042) |
Increase (Decrease) in Regulatory Liabilities | (13,111) | (23,014) |
Storm restoration costs approved for securitization recognized as regulatory asset | 0 | 153,383 |
Changes in pension and other postretirement liabilities | (8,961) | (12,458) |
Other Operating Activities, Cash Flow Statement | 16,417 | (905) |
Net cash flow provided by operating activities | 498,457 | 224,735 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (711,382) | (469,630) |
Allowance for equity funds used during construction | 19,093 | 9,375 |
Change in money pool receivable - net | 73,660 | (5,146) |
Proceeds from Legal Settlements | 0 | 4,134 |
Increase in other investments | 86 | (31,160) |
Changes in securitization account | (1,402) | 4,698 |
Net cash flow used in investing activities | (608,945) | (487,729) |
Payments for (Proceeds from) Other Investing Activities | (86) | 31,160 |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | (344,966) | (606,444) |
Retirement of long-term debt | (8,856) | (54,257) |
Change in money pool payable - net | 0 | (79,594) |
Dividends paid: | ||
Other | 23,231 | 6,019 |
Net cash flow provided by financing activities | 357,787 | 477,070 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 247,299 | 214,076 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 250,796 | 214,104 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 67,605 | 71,311 |
Income taxes | 30,500 | 1,085 |
Dividends Paid, Preferred Stock | (1,554) | (1,542) |
Proceeds from Sale of Productive Assets | 11,000 | 0 |
System Energy [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 81,001 | (321,359) |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 141,213 | 163,043 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 24,887 | (129,093) |
Changes in working capital: | ||
Receivables | 49,881 | (29,703) |
Accounts payable | (16,504) | (7,193) |
Taxes accrued | (5,782) | 9,106 |
Interest accrued | 4,571 | (972) |
Other working capital accounts | 8,936 | (34,961) |
Changes in regulatory assets | (64,565) | (23,107) |
Increase (Decrease) in Regulatory Liabilities | (15,981) | 282,463 |
Changes in pension and other postretirement liabilities | (14,484) | (14,704) |
Other Operating Activities, Cash Flow Statement | (37,983) | 284,219 |
Net cash flow provided by operating activities | 155,190 | 177,739 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (80,068) | (132,100) |
Allowance for equity funds used during construction | 5,289 | 6,164 |
Nuclear fuel purchases | (57,790) | (77,707) |
Payments for Nuclear Fuel | (57,790) | (77,707) |
Proceeds from sale of nuclear fuel | 37,104 | 18,845 |
Change in money pool receivable - net | 85,209 | 70,943 |
Increase in other investments | (4) | 0 |
Proceeds from nuclear decommissioning trust fund sales | 245,386 | 273,108 |
Investment in nuclear decommissioning trust funds | (262,291) | (277,916) |
Net cash flow used in investing activities | (27,165) | (118,663) |
Payments for (Proceeds from) Other Investing Activities | 4 | 0 |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | (662,965) | (955,587) |
Retirement of long-term debt | (698,137) | (908,629) |
Dividends paid: | ||
Net cash flow provided by financing activities | (35,172) | 46,958 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 92,853 | 106,034 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 95,793 | 195,235 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | $ 30,249 | $ 30,231 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Cash and cash equivalents: | ||
Cash | $ 105,288 | $ 115,290 |
Temporary cash investments | 1,414,486 | 108,874 |
Total cash and cash equivalents | 1,519,774 | 224,164 |
Accounts receivable: | ||
Customer | 986,010 | 788,552 |
Allowance for doubtful accounts | (27,813) | (30,856) |
Other | 203,151 | 241,702 |
Accrued unbilled revenues | 551,392 | 495,859 |
Total accounts receivable | 1,712,740 | 1,495,257 |
Deferred Fuel Cost | 188,885 | 710,401 |
Fuel inventory - at average cost | 182,233 | 147,632 |
Public Utilities, Inventory | 1,362,098 | 1,183,308 |
Deferred nuclear refueling outage costs | 125,101 | 143,653 |
Prepaid Expense and Other Assets | 238,828 | 190,611 |
TOTAL | 5,329,659 | 4,095,026 |
OTHER PROPERTY AND INVESTMENTS | ||
Decommissioning trust funds | 4,417,704 | 4,121,864 |
Non-utility property - at cost (less accumulated depreciation) | 419,931 | 366,405 |
Storm Reserve Escrow Account | 416,274 | 401,955 |
Other | 65,613 | 102,259 |
TOTAL | 5,319,522 | 4,992,483 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 65,954,146 | 64,646,911 |
Natural gas | 712,374 | 691,970 |
Construction work in progress | 2,296,265 | 1,844,171 |
Nuclear fuel | 606,600 | 582,119 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 69,569,385 | 67,765,171 |
Less - accumulated depreciation and amortization | 26,274,303 | 25,288,047 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 43,295,082 | 42,477,124 |
Regulatory assets: | ||
Regulatory Assets, Noncurrent | 5,690,179 | 6,036,397 |
Deferred Fuel Cost Non Current | 172,202 | 241,085 |
Goodwill | 377,172 | 377,172 |
Deferred Income Tax Assets, Net | 50,895 | 84,100 |
Other | 317,436 | 291,804 |
Deferred Costs and Other Assets | 6,607,884 | 7,030,558 |
TOTAL ASSETS | 60,552,147 | 58,595,191 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 1,524,057 | 2,309,037 |
Short-term borrowings | 1,351,105 | 827,621 |
Accounts payable | 1,336,107 | 1,777,590 |
Contract with Customer, Liability, Current | 441,018 | 424,723 |
Taxes Payable, Current | 531,990 | 424,091 |
Interest accrued | 261,835 | 195,264 |
Deferred fuel costs | 98,924 | 0 |
Pension and other postretirement liabilities | 53,533 | 104,845 |
Sale-leaseback/depreciation regulatory liability | 0 | 103,497 |
Other | 250,123 | 202,779 |
TOTAL | 5,848,692 | 6,369,447 |
NON-CURRENT LIABILITIES | ||
Deferred Income Tax Liabilities, Net | 5,063,523 | 4,818,837 |
Accumulated deferred investment tax credits | 204,839 | 211,220 |
Regulatory liability for income taxes - net | 1,223,532 | 1,258,276 |
Other regulatory liabilities | 2,667,648 | 2,324,590 |
Decommissioning and asset retirement cost liabilities | 4,449,832 | 4,271,531 |
Loss Contingency Accrual | 524,030 | 531,201 |
Pension and other postretirement liabilities | 916,981 | 1,213,555 |
Long-term debt | 24,659,343 | 23,623,512 |
Deferred Credits and Other Liabilities | 955,309 | 688,720 |
TOTAL | 40,665,037 | 38,941,442 |
Subsidiaries' preferred stock without sinking fund | $ 219,410 | $ 219,410 |
Preferred Stock, No Par Value | $ 0 | $ 0 |
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 0 | $ 0 |
Common Shareholders' Equity: | ||
Common Stock, Value, Issued | 2,797 | 2,797 |
Additional Paid in Capital, Common Stock | 7,649,370 | 7,632,895 |
Accumulated other comprehensive loss | (195,453) | (191,754) |
Less - treasury stock, at cost | 4,957,522 | 4,978,994 |
TOTAL | 13,691,468 | 12,966,985 |
Stockholders' Equity Attributable to Noncontrolling Interest | 127,540 | 97,907 |
Retained Earnings (Accumulated Deficit) | 11,192,276 | 10,502,041 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 13,819,008 | 13,064,892 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 60,552,147 | 58,595,191 |
Entergy Arkansas [Member] | ||
Cash and cash equivalents: | ||
Cash | 3,137 | 1,911 |
Temporary cash investments | 110,262 | 3,367 |
Total cash and cash equivalents | 113,399 | 5,278 |
Accounts receivable: | ||
Customer | 220,508 | 140,513 |
Allowance for doubtful accounts | (5,599) | (6,528) |
Other | 64,642 | 101,096 |
Accrued unbilled revenues | 126,245 | 116,816 |
Total accounts receivable | 454,079 | 397,233 |
Deferred Fuel Cost | 0 | 139,739 |
Fuel inventory - at average cost | 43,143 | 51,144 |
Public Utilities, Inventory | 331,099 | 288,260 |
Deferred nuclear refueling outage costs | 49,373 | 56,443 |
Prepaid Expense and Other Assets | 43,694 | 26,576 |
TOTAL | 1,034,787 | 964,673 |
OTHER PROPERTY AND INVESTMENTS | ||
Decommissioning trust funds | 1,285,583 | 1,199,860 |
Other | 2,305 | 2,414 |
TOTAL | 1,287,888 | 1,202,274 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 14,614,754 | 14,077,844 |
Construction work in progress | 479,889 | 417,244 |
Nuclear fuel | 162,397 | 176,174 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 15,257,040 | 14,671,262 |
Less - accumulated depreciation and amortization | 5,953,948 | 5,729,304 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 9,303,092 | 8,941,958 |
Regulatory assets: | ||
Regulatory Assets, Noncurrent | 1,879,619 | 1,810,281 |
Deferred Fuel Cost Non Current | 0 | 68,883 |
Other | 16,194 | 18,507 |
Deferred Costs and Other Assets | 1,895,813 | 1,897,671 |
TOTAL ASSETS | 13,521,580 | 13,006,576 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 415,000 | 290,000 |
Accounts Payable | 69,666 | 276,362 |
Accounts payable | 219,357 | 310,339 |
Contract with Customer, Liability, Current | 109,719 | 102,799 |
Taxes Payable, Current | 115,559 | 100,526 |
Interest accrued | 54,350 | 18,816 |
Deferred fuel costs | 26,243 | 0 |
Other | 69,429 | 43,394 |
TOTAL | 1,079,323 | 1,142,236 |
NON-CURRENT LIABILITIES | ||
Deferred Income Tax Liabilities, Net | 1,561,460 | 1,498,234 |
Accumulated deferred investment tax credits | 27,571 | 28,472 |
Regulatory liability for income taxes - net | 433,687 | 435,157 |
Other regulatory liabilities | 545,703 | 475,758 |
Decommissioning and asset retirement cost liabilities | 1,537,742 | 1,472,736 |
Loss Contingency Accrual | 55,642 | 79,998 |
Pension and other postretirement liabilities | 61,984 | 118,020 |
Long-term debt | 4,235,501 | 3,876,500 |
Deferred Credits and Other Liabilities | 118,362 | 97,650 |
TOTAL | 8,577,652 | 8,082,525 |
Common Shareholders' Equity: | ||
Members' Equity | 3,840,930 | 3,753,990 |
Members' Equity Attributable to Noncontrolling Interest | 23,675 | 27,825 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 3,864,605 | 3,781,815 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 13,521,580 | 13,006,576 |
Entergy Arkansas [Member] | Affiliated Entity | ||
Accounts receivable: | ||
Customer | 48,283 | 45,336 |
Entergy Louisiana [Member] | ||
Cash and cash equivalents: | ||
Cash | 27,521 | 50,318 |
Temporary cash investments | 765,759 | 6,295 |
Total cash and cash equivalents | 793,280 | 56,613 |
Accounts receivable: | ||
Customer | 361,830 | 339,291 |
Allowance for doubtful accounts | (7,569) | (7,595) |
Other | 51,549 | 53,241 |
Accrued unbilled revenues | 233,913 | 199,077 |
Total accounts receivable | 806,564 | 672,910 |
Deferred Fuel Cost | 26,093 | 159,183 |
Fuel inventory - at average cost | 61,053 | 41,859 |
Public Utilities, Inventory | 641,041 | 555,860 |
Deferred nuclear refueling outage costs | 62,394 | 53,833 |
Prepaid Expense and Other Assets | 291,656 | 76,646 |
TOTAL | 2,682,081 | 1,616,904 |
OTHER PROPERTY AND INVESTMENTS | ||
Decommissioning trust funds | 1,912,924 | 1,779,090 |
Non-utility property - at cost (less accumulated depreciation) | 404,720 | 350,723 |
Storm Reserve Escrow Account | 303,869 | 293,406 |
Other | 14,349 | 19,679 |
TOTAL | 7,132,746 | 5,606,470 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 27,482,440 | 27,498,136 |
Natural gas | 311,565 | 301,719 |
Construction work in progress | 587,658 | 736,969 |
Nuclear fuel | 305,492 | 212,941 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 28,687,155 | 28,749,765 |
Less - accumulated depreciation and amortization | 10,382,412 | 10,087,942 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 18,304,743 | 18,661,823 |
Regulatory assets: | ||
Regulatory Assets, Noncurrent | 1,665,315 | 2,056,179 |
Deferred Fuel Cost Non Current | 168,122 | 168,122 |
Other | 38,984 | 35,057 |
Deferred Costs and Other Assets | 1,872,421 | 2,259,358 |
TOTAL ASSETS | 29,991,991 | 28,144,555 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 685,000 | 1,010,000 |
Accounts Payable | 104,903 | 356,688 |
Accounts payable | 411,363 | 589,355 |
Contract with Customer, Liability, Current | 167,586 | 161,666 |
Taxes Payable, Current | 93,983 | 36,004 |
Interest accrued | 91,649 | 101,336 |
Other | 125,059 | 72,525 |
TOTAL | 1,679,543 | 2,327,574 |
NON-CURRENT LIABILITIES | ||
Deferred Income Tax Liabilities, Net | 2,504,547 | 2,374,878 |
Accumulated deferred investment tax credits | 94,399 | 97,868 |
Regulatory liability for income taxes - net | 323,956 | 337,836 |
Other regulatory liabilities | 1,252,109 | 1,037,962 |
Decommissioning and asset retirement cost liabilities | 1,813,564 | 1,736,801 |
Loss Contingency Accrual | 323,563 | 316,314 |
Pension and other postretirement liabilities | 346,126 | 389,631 |
Long-term debt | 9,714,014 | 9,688,922 |
Deferred Credits and Other Liabilities | 431,572 | 343,321 |
TOTAL | 16,803,850 | 16,323,533 |
Common Shareholders' Equity: | ||
Accumulated other comprehensive loss | 50,982 | 55,370 |
Members' Equity | 11,410,402 | 9,406,343 |
Members' Equity Attributable to Noncontrolling Interest | 47,214 | 31,735 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 11,508,598 | 9,493,448 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 29,991,991 | 28,144,555 |
Entergy Louisiana [Member] | Affiliated Entity | ||
Accounts receivable: | ||
Customer | 166,841 | 88,896 |
Investments in and Advances to Affiliates, at Fair Value | 4,496,884 | 3,163,572 |
Entergy Mississippi [Member] | ||
Cash and cash equivalents: | ||
Cash | 26 | 26 |
Temporary cash investments | 10,290 | 16,953 |
Total cash and cash equivalents | 10,316 | 16,979 |
Accounts receivable: | ||
Customer | 170,454 | 99,504 |
Allowance for doubtful accounts | (3,035) | (2,472) |
Other | 18,525 | 34,564 |
Accrued unbilled revenues | 72,799 | 73,473 |
Total accounts receivable | 268,768 | 242,742 |
Deferred Fuel Cost | 0 | 143,211 |
Fuel inventory - at average cost | 17,294 | 15,548 |
Public Utilities, Inventory | 94,877 | 84,346 |
Prepaid Expense and Other Assets | 10,350 | 9,603 |
TOTAL | 401,605 | 512,429 |
OTHER PROPERTY AND INVESTMENTS | ||
Non-utility property - at cost (less accumulated depreciation) | 4,501 | 4,512 |
Storm Reserve Escrow Account | 34,694 | 33,549 |
Other | 841 | 910 |
TOTAL | 40,036 | 38,971 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 7,381,120 | 7,079,849 |
Construction work in progress | 249,991 | 170,191 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 7,631,111 | 7,250,040 |
Less - accumulated depreciation and amortization | 2,417,190 | 2,264,786 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 5,213,921 | 4,985,254 |
Regulatory assets: | ||
Regulatory Assets, Noncurrent | 555,430 | 519,460 |
Other | 25,558 | 22,650 |
Deferred Costs and Other Assets | 580,988 | 542,110 |
TOTAL ASSETS | 6,236,550 | 6,078,764 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 200,000 | 400,000 |
Accounts Payable | 60,679 | 60,532 |
Accounts payable | 115,126 | 176,162 |
Contract with Customer, Liability, Current | 91,944 | 89,668 |
Taxes Payable, Current | 139,174 | 124,905 |
Interest accrued | 29,542 | 18,208 |
Deferred fuel costs | 72,681 | 0 |
Other | 24,747 | 38,908 |
TOTAL | 733,893 | 908,383 |
NON-CURRENT LIABILITIES | ||
Deferred Income Tax Liabilities, Net | 812,716 | 780,030 |
Accumulated deferred investment tax credits | 14,294 | 14,591 |
Regulatory liability for income taxes - net | 193,812 | 202,058 |
Other regulatory liabilities | 35,399 | 79,865 |
Decommissioning and asset retirement cost liabilities | 8,119 | 7,797 |
Loss Contingency Accrual | 40,136 | 37,509 |
Pension and other postretirement liabilities | 890 | 23,742 |
Long-term debt | 2,129,185 | 1,931,096 |
Deferred Credits and Other Liabilities | 79,919 | 53,156 |
TOTAL | 3,314,470 | 3,129,844 |
Common Shareholders' Equity: | ||
Stockholders' Equity Attributable to Noncontrolling Interest | 21,651 | 3,347 |
Members' Equity | 2,166,536 | 2,037,190 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,188,187 | 2,040,537 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 6,236,550 | 6,078,764 |
Entergy Mississippi [Member] | Affiliated Entity | ||
Accounts receivable: | ||
Customer | 10,025 | 37,673 |
Entergy New Orleans [Member] | ||
Cash and cash equivalents: | ||
Cash | 435 | 27 |
Temporary cash investments | 114,372 | 4,437 |
Total cash and cash equivalents | 114,807 | 4,464 |
Securitization recovery trust account | 5,672 | 2,235 |
Accounts receivable: | ||
Customer | 91,353 | 93,288 |
Allowance for doubtful accounts | (9,213) | (11,909) |
Other | 5,415 | 6,110 |
Accrued unbilled revenues | 33,068 | 37,284 |
Total accounts receivable | 134,154 | 274,700 |
Deferred Fuel Cost | 2,128 | 10,153 |
Fuel inventory - at average cost | 2,963 | 5,872 |
Public Utilities, Inventory | 26,998 | 22,498 |
Prepaid Expense and Other Assets | 13,884 | 6,312 |
TOTAL | 300,606 | 326,234 |
OTHER PROPERTY AND INVESTMENTS | ||
Non-utility property - at cost (less accumulated depreciation) | 832 | 1,050 |
Storm Reserve Escrow Account | 77,712 | 75,000 |
Other | 624 | 675 |
TOTAL | 79,168 | 76,725 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 2,010,846 | 1,934,837 |
Natural gas | 400,808 | 390,252 |
Construction work in progress | 31,152 | 39,607 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 2,442,806 | 2,364,696 |
Less - accumulated depreciation and amortization | 842,197 | 808,224 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 1,600,609 | 1,556,472 |
Regulatory assets: | ||
Regulatory Assets, Noncurrent | 193,515 | 202,112 |
Deferred Fuel Cost Non Current | 4,080 | 4,080 |
Other | 54,278 | 46,778 |
Deferred Costs and Other Assets | 251,873 | 252,970 |
TOTAL ASSETS | 2,232,256 | 2,212,401 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 85,000 | 170,000 |
Accounts Payable | 40,883 | 53,258 |
Accounts payable | 34,283 | 57,291 |
Contract with Customer, Liability, Current | 32,310 | 31,826 |
Taxes Payable, Current | 11,042 | 10,308 |
Interest accrued | 10,275 | 8,080 |
Other | 32,899 | 6,560 |
TOTAL | 247,998 | 338,629 |
NON-CURRENT LIABILITIES | ||
Deferred Income Tax Liabilities, Net | 405,836 | 385,259 |
Accumulated deferred investment tax credits | 16,463 | 16,481 |
Regulatory liability for income taxes - net | 42,028 | 39,738 |
Other regulatory liabilities | 36,323 | 20,735 |
Decommissioning and asset retirement cost liabilities | 4,539 | 0 |
Loss Contingency Accrual | 93,633 | 87,048 |
Long-term debt | 590,417 | 596,047 |
Deferred Credits and Other Liabilities | 16,380 | 17,369 |
TOTAL | 1,213,898 | 1,170,956 |
Common Shareholders' Equity: | ||
Members' Equity | 770,360 | 702,816 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 770,360 | 702,816 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 2,232,256 | 2,212,401 |
Notes Payable, Current | 1,306 | 1,306 |
Amount | 8,279 | 8,279 |
Entergy New Orleans [Member] | Affiliated Entity | ||
Accounts receivable: | ||
Customer | 13,531 | 149,927 |
Entergy Texas [Member] | ||
Cash and cash equivalents: | ||
Cash | 1,235 | 500 |
Temporary cash investments | 249,561 | 2,997 |
Total cash and cash equivalents | 250,796 | 3,497 |
Securitization recovery trust account | 12,281 | 10,879 |
Accounts receivable: | ||
Customer | 141,865 | 115,955 |
Allowance for doubtful accounts | (2,397) | (2,352) |
Other | 29,145 | 21,587 |
Accrued unbilled revenues | 85,368 | 69,208 |
Total accounts receivable | 286,896 | 319,947 |
Deferred Fuel Cost | 160,664 | 258,115 |
Fuel inventory - at average cost | 52,484 | 26,750 |
Public Utilities, Inventory | 103,683 | 93,031 |
Prepaid Expense and Other Assets | 30,324 | 20,568 |
TOTAL | 897,128 | 732,787 |
OTHER PROPERTY AND INVESTMENTS | ||
Non-utility property - at cost (less accumulated depreciation) | 376 | 376 |
Other | 17,041 | 18,975 |
TOTAL | 17,642 | 19,601 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 7,734,635 | 7,409,461 |
Construction work in progress | 784,116 | 339,139 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 8,518,751 | 7,748,600 |
Less - accumulated depreciation and amortization | 2,310,663 | 2,135,400 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 6,208,088 | 5,613,200 |
Regulatory assets: | ||
Regulatory Assets, Noncurrent | 596,679 | 578,682 |
Other | 102,743 | 99,694 |
Deferred Costs and Other Assets | 699,422 | 678,376 |
TOTAL ASSETS | 7,822,280 | 7,043,964 |
CURRENT LIABILITIES | ||
Accounts Payable | 67,665 | 70,321 |
Accounts payable | 200,767 | 201,982 |
Contract with Customer, Liability, Current | 39,459 | 38,764 |
Taxes Payable, Current | 63,038 | 93,033 |
Interest accrued | 37,540 | 23,928 |
Other | 14,089 | 16,963 |
TOTAL | 422,558 | 444,991 |
NON-CURRENT LIABILITIES | ||
Deferred Income Tax Liabilities, Net | 814,181 | 744,227 |
Accumulated deferred investment tax credits | 8,150 | 8,711 |
Regulatory liability for income taxes - net | 121,472 | 132,647 |
Other regulatory liabilities | 43,311 | 45,247 |
Decommissioning and asset retirement cost liabilities | 11,584 | 11,121 |
Loss Contingency Accrual | 8,104 | 7,593 |
Long-term debt | 3,233,614 | 2,895,913 |
Deferred Credits and Other Liabilities | 201,180 | 74,053 |
TOTAL | $ 4,441,596 | $ 3,919,512 |
Common Stock, Shares, Outstanding | 46,525,000 | 46,525,000 |
Common Shareholders' Equity: | ||
Common Stock, Value, Issued | $ 49,452 | $ 49,452 |
Additional Paid in Capital, Common Stock | 1,050,125 | 1,050,125 |
TOTAL | 2,919,376 | 2,640,711 |
Stockholders' Equity Attributable to Noncontrolling Interest | 38,750 | 38,750 |
Retained Earnings (Accumulated Deficit) | 1,819,799 | 1,541,134 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,958,126 | 2,679,461 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 7,822,280 | 7,043,964 |
Entergy Texas [Member] | Affiliated Entity | ||
Accounts receivable: | ||
Customer | 32,915 | 115,549 |
Investments in and Advances to Affiliates, at Fair Value | 225 | 250 |
System Energy [Member] | ||
Cash and cash equivalents: | ||
Cash | 1,291 | 78 |
Temporary cash investments | 94,502 | 2,862 |
Total cash and cash equivalents | 95,793 | 2,940 |
Accounts receivable: | ||
Other | 5,300 | 6,145 |
Total accounts receivable | 29,656 | 164,746 |
Public Utilities, Inventory | 160,143 | 135,346 |
Deferred nuclear refueling outage costs | 13,334 | 33,377 |
Prepaid Expense and Other Assets | 5,577 | 9,097 |
TOTAL | 344,770 | 345,506 |
OTHER PROPERTY AND INVESTMENTS | ||
Decommissioning trust funds | 1,219,196 | 1,142,914 |
TOTAL | 1,219,196 | 1,142,914 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 5,479,592 | 5,425,449 |
Construction work in progress | 105,468 | 102,987 |
Nuclear fuel | 138,708 | 193,004 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 5,723,768 | 5,721,440 |
Less - accumulated depreciation and amortization | 3,467,414 | 3,412,257 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 2,256,354 | 2,309,183 |
Regulatory assets: | ||
Regulatory Assets, Noncurrent | 439,419 | 415,121 |
Other | 793 | 1,422 |
Deferred Costs and Other Assets | 440,212 | 416,543 |
TOTAL ASSETS | 4,260,532 | 4,214,146 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 57 | 300,037 |
Accounts Payable | 19,125 | 21,701 |
Accounts payable | 32,022 | 58,178 |
Taxes Payable, Current | 1,815 | 7,597 |
Interest accrued | 16,162 | 11,591 |
Sale-leaseback/depreciation regulatory liability | 0 | 103,497 |
Other | 4,066 | 4,071 |
TOTAL | 73,247 | 506,672 |
NON-CURRENT LIABILITIES | ||
Deferred Income Tax Liabilities, Net | 404,385 | 376,070 |
Accumulated deferred investment tax credits | 43,660 | 44,692 |
Regulatory liability for income taxes - net | 108,577 | 110,840 |
Other regulatory liabilities | 754,803 | 665,024 |
Decommissioning and asset retirement cost liabilities | 1,073,634 | 1,042,461 |
Pension and other postretirement liabilities | 26,266 | 40,750 |
Long-term debt | 745,190 | 477,868 |
Deferred Credits and Other Liabilities | 2 | 2 |
TOTAL | $ 3,156,517 | $ 2,757,707 |
Common Stock, Shares, Outstanding | 789,350 | 789,350 |
Common Shareholders' Equity: | ||
Common Stock, Value, Issued | $ 1,086,850 | $ 1,086,850 |
Retained Earnings (Accumulated Deficit) | (56,082) | (137,083) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,030,768 | 949,767 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 4,260,532 | 4,214,146 |
Sale-leaseback/depreciation regulatory asset | 40,267 | 0 |
System Energy [Member] | Affiliated Entity | ||
Accounts receivable: | ||
Customer | $ 24,356 | $ 158,601 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income | $ 669,714 | $ 555,882 | $ 1,374,026 | $ 999,486 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax | 0 | 24 | 0 | 72 |
Other comprehensive income (loss) | ||||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | (2,434) | 11,867 | (3,699) | 26,240 |
Net unrealized investment gains | 0 | (1,223) | 0 | (7,154) |
Other comprehensive income (loss) | (2,434) | 10,668 | (3,699) | 19,158 |
Total comprehensive income | 667,280 | 566,550 | 1,370,327 | 1,018,644 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 2,959 | (4,707) | 5,092 | 2,794 |
Comprehensive Income Attributable to Entergy Corporation | 664,321 | 571,257 | 1,365,235 | 1,015,850 |
Entergy Louisiana [Member] | ||||
Net income | 359,307 | 274,390 | 866,591 | 741,909 |
Other comprehensive income (loss) | ||||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | (1,829) | 295 | (4,388) | (809) |
Other comprehensive income (loss) | (1,829) | 295 | (4,388) | (809) |
Total comprehensive income | 357,478 | 274,685 | 862,203 | 741,100 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 810 | 554 | 2,183 | 812 |
Comprehensive Income Attributable to Entergy Corporation | 356,668 | 274,131 | 860,020 | 740,288 |
Entergy Arkansas [Member] | ||||
Net income | 99,169 | 149,347 | 225,513 | 278,024 |
Other comprehensive income (loss) | ||||
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | (791) | (724) | (3,426) | (2,640) |
System Energy [Member] | ||||
Net income | $ 27,697 | $ 27,357 | $ 81,001 | $ (321,359) |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity - USD ($) $ in Thousands | Total | Subsidiaries Preferred Stock [Member] | Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Common Stock [Member] | Treasury Stock, Common | Entergy Texas [Member] | Entergy Texas [Member] Subsidiaries Preferred Stock [Member] | Entergy Texas [Member] Paid In Capital [Member] | Entergy Texas [Member] Retained Earnings [Member] | Entergy Texas [Member] Common Stock [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] Member's Equity [Member] | Entergy Mississippi [Member] Noncontrolling Interest | Entergy Arkansas [Member] | Entergy Arkansas [Member] Member's Equity [Member] | Entergy Arkansas [Member] Noncontrolling Interest | Entergy Louisiana [Member] | Entergy Louisiana [Member] Member's Equity [Member] | Entergy Louisiana [Member] Accumulated Other Comprehensive Income [Member] | Entergy Louisiana [Member] Noncontrolling Interest | Entergy New Orleans [Member] | System Energy [Member] | System Energy [Member] Retained Earnings [Member] | System Energy [Member] Common Stock [Member] | Entergy Corporation [Member] |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 11,705,394 | $ 68,110 | $ 6,766,239 | $ 10,240,552 | $ (332,528) | $ 2,720 | $ (5,039,699) | $ 2,483,206 | $ 38,750 | $ 1,050,125 | $ 1,344,879 | $ 49,452 | $ 1,839,568 | $ 1,839,568 | $ 0 | $ 3,575,855 | $ 3,542,745 | $ 33,110 | $ 8,180,572 | $ 8,172,294 | $ 8,278 | $ 0 | $ 638,715 | $ 1,091,360 | $ 139,510 | $ 951,850 | |
Dividends, Preferred Stock, Cash | 4,580 | 4,580 | 0 | 0 | 0 | 0 | 0 | 518 | 0 | 0 | 518 | 0 | $ 4,000 | ||||||||||||||
Consolidated net income | 279,593 | 3,193 | 0 | 276,400 | 0 | 0 | 0 | 50,403 | 0 | 0 | 50,403 | 0 | 30,355 | 30,355 | 0 | 65,567 | 66,954 | (1,387) | 150,860 | 150,860 | 0 | 0 | 15,126 | 31,432 | 31,432 | 0 | |
Dividends, Common Stock, Cash | (205,058) | 0 | 0 | (205,058) | 0 | 0 | 0 | (125,000) | (125,000) | 0 | 0 | ||||||||||||||||
Other comprehensive income (loss) | (4,050) | 0 | 0 | 0 | (4,050) | 0 | 0 | (613) | 0 | (613) | 0 | ||||||||||||||||
Common stock issuances related to stock plans | (5,527) | 0 | 31,085 | 0 | 0 | 0 | (36,612) | ||||||||||||||||||||
Other | (13) | (13) | 0 | 0 | |||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 2,794 | 1,554 | (9,117) | (2,640) | 812 | ||||||||||||||||||||||
Consolidated net income | $ 999,486 | 265,890 | 154,198 | 278,024 | 741,909 | 61,587 | (321,359) | ||||||||||||||||||||
Common stock dividend (in dollars per share) | $ 3.03 | ||||||||||||||||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | $ (13,739) | ||||||||||||||||||||||||||
Proceeds from Noncontrolling Interests | 9,595 | 9,595 | |||||||||||||||||||||||||
Other comprehensive income (loss) | 19,158 | (809) | |||||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 11,776,826 | 66,723 | 6,735,154 | 10,311,894 | (336,578) | 2,720 | (5,003,087) | 2,533,091 | 38,750 | 1,050,125 | 1,394,764 | 49,452 | 1,869,923 | 1,869,923 | 0 | 3,641,422 | 3,609,699 | 31,723 | 8,205,806 | 8,198,141 | 7,665 | 0 | 653,841 | 1,122,792 | 170,942 | 951,850 | |
Dividends, Preferred Stock, Cash | 4,580 | 4,580 | 0 | 0 | 0 | 0 | 0 | 518 | 0 | 0 | 518 | 0 | 4,000 | ||||||||||||||
Consolidated net income | 164,011 | 4,308 | 0 | 159,703 | 0 | 0 | 0 | 97,485 | 0 | 0 | 97,485 | 0 | 48,955 | 48,955 | 0 | 63,110 | 63,639 | (529) | 316,659 | 316,401 | 0 | 258 | 19,546 | (380,148) | (380,148) | 0 | |
Dividends, Common Stock, Cash | (205,408) | 0 | 0 | (205,408) | 0 | 0 | 0 | (36,000) | (36,000) | 0 | |||||||||||||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | 31,636 | 31,636 | 0 | 0 | 0 | 0 | 0 | 31,636 | 0 | 0 | 31,636 | ||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (190) | (190) | 0 | 0 | 0 | 0 | 0 | (190) | 0 | (190) | |||||||||||||||||
Proceeds from Noncontrolling Interests | 9,595 | 9,595 | 0 | 0 | 0 | 0 | 0 | 9,595 | 0 | 9,595 | |||||||||||||||||
Other comprehensive income (loss) | 12,540 | 0 | 0 | 0 | 12,540 | 0 | 0 | (491) | 0 | (491) | 0 | ||||||||||||||||
Proceeds from Contributions from Parent | 1,000,000 | 1,000,000 | 0 | 0 | |||||||||||||||||||||||
Common stock issuances related to stock plans | (34,141) | 0 | (15,214) | 0 | 0 | 0 | (18,927) | ||||||||||||||||||||
Other | (13) | (13) | 0 | 0 | |||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 11,818,571 | 107,492 | 6,750,368 | 10,266,189 | (324,038) | 2,720 | (4,984,160) | 2,630,058 | 38,750 | 1,050,125 | 1,491,731 | 49,452 | 1,928,473 | 1,918,878 | 9,595 | 3,668,342 | 3,637,338 | 31,004 | 9,553,597 | 9,514,529 | 7,174 | 31,894 | 673,387 | 742,644 | (209,206) | 951,850 | |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | (4,707) | 518 | (9,117) | (724) | 554 | ||||||||||||||||||||||
Dividends, Preferred Stock, Cash | 4,580 | 4,580 | 0 | 0 | 0 | 0 | 0 | 518 | 0 | 0 | 518 | 0 | 4,000 | ||||||||||||||
Consolidated net income | 555,882 | (4,707) | 0 | 560,589 | 0 | 0 | 0 | 118,002 | 0 | 0 | 118,002 | 0 | 74,889 | 84,006 | (9,117) | 149,347 | 150,071 | (724) | 274,390 | 273,836 | 0 | 554 | 26,915 | 27,357 | 27,357 | 0 | |
Dividends, Common Stock, Cash | (205,471) | 0 | 0 | (205,471) | 0 | 0 | 0 | (50,000) | (50,000) | 0 | (249,500) | (249,500) | 0 | 0 | |||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $ (290) | (290) | 0 | 0 | 0 | 0 | 0 | (290) | 0 | (290) | |||||||||||||||||
Common stock dividend (in dollars per share) | $ 1.01 | ||||||||||||||||||||||||||
Other comprehensive income (loss) | $ 10,668 | 0 | 0 | 0 | 10,668 | 0 | 0 | 295 | 0 | 295 | 0 | ||||||||||||||||
Common stock issuances related to stock plans | (19,486) | 0 | (14,745) | 0 | 0 | 0 | (4,741) | ||||||||||||||||||||
Other | (12) | (12) | 0 | 0 | |||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 12,194,266 | 97,915 | 6,765,113 | 10,621,307 | (313,370) | 2,720 | (4,979,419) | 2,747,542 | 38,750 | 1,050,125 | 1,609,215 | 49,452 | 2,003,362 | 2,002,884 | 478 | 3,767,399 | 3,737,409 | 29,990 | 9,578,770 | 9,538,853 | 7,469 | 32,448 | 700,302 | 770,001 | (181,849) | 951,850 | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 13,064,892 | 97,907 | 7,632,895 | 10,502,041 | (191,754) | 2,797 | (4,978,994) | 2,679,461 | 38,750 | 1,050,125 | 1,541,134 | 49,452 | 2,040,537 | 2,037,190 | 3,347 | 3,781,815 | 3,753,990 | 27,825 | 9,493,448 | 9,406,343 | 55,370 | 31,735 | 702,816 | 949,767 | (137,083) | 1,086,850 | |
Dividends, Preferred Stock, Cash | 4,580 | 4,580 | 0 | 0 | 0 | 0 | 0 | 518 | 0 | 0 | 518 | 0 | 4,000 | ||||||||||||||
Consolidated net income | 312,299 | 1,364 | 0 | 310,935 | 0 | 0 | 0 | 41,673 | 0 | 0 | 41,673 | 0 | 20,940 | 23,081 | (2,141) | 59,397 | 61,026 | (1,629) | 244,024 | 243,470 | 0 | 554 | 10,142 | 27,545 | 27,545 | 0 | |
Dividends, Common Stock, Cash | (226,194) | 0 | 0 | (226,194) | 0 | 0 | 0 | (12,500) | (12,500) | 0 | (80,000) | (80,000) | 0 | (160,250) | (160,250) | 0 | 0 | ||||||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | 14,577 | 14,577 | 0 | 0 | 0 | 0 | 0 | 14,577 | 0 | 0 | 14,577 | ||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (574) | (574) | 0 | 0 | 0 | 0 | 0 | (104) | 0 | (104) | (470) | 0 | 0 | (470) | |||||||||||||
Other comprehensive income (loss) | 2,027 | 0 | 0 | 0 | 2,027 | 0 | 0 | (786) | 0 | (786) | 0 | ||||||||||||||||
Proceeds from Contributions from Parent | 1,457,676 | 1,457,676 | 0 | 0 | |||||||||||||||||||||||
Common stock issuances related to stock plans | (4,481) | 0 | 15,118 | 0 | 0 | 0 | (19,599) | ||||||||||||||||||||
Other | (28) | (28) | 0 | 0 | |||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 5,092 | 1,554 | (7,404) | (3,426) | 2,183 | ||||||||||||||||||||||
Consolidated net income | $ 1,374,026 | 280,219 | 161,942 | 225,513 | 866,591 | 67,544 | 81,001 | ||||||||||||||||||||
Common stock dividend (in dollars per share) | $ 3.21 | ||||||||||||||||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | $ (13,739) | ||||||||||||||||||||||||||
Proceeds from Noncontrolling Interests | 25,708 | 25,708 | |||||||||||||||||||||||||
Other comprehensive income (loss) | (3,699) | (4,388) | |||||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 13,166,928 | 108,694 | 7,617,777 | 10,586,782 | (189,727) | 2,797 | (4,959,395) | 2,720,616 | 38,750 | 1,050,125 | 1,582,289 | 49,452 | 2,048,977 | 2,047,771 | 1,206 | 3,761,108 | 3,735,016 | 26,092 | 11,048,191 | 10,947,211 | 54,584 | 46,396 | 712,958 | 977,312 | (109,538) | 1,086,850 | |
Dividends, Preferred Stock, Cash | 4,580 | 4,580 | 0 | 0 | 0 | 0 | 0 | 518 | 0 | 0 | 518 | 0 | 4,000 | ||||||||||||||
Consolidated net income | 392,014 | 770 | 0 | 391,244 | 0 | 0 | 0 | 88,457 | 0 | 0 | 88,457 | 0 | 58,265 | 61,888 | (3,623) | 66,948 | 67,954 | (1,006) | 263,260 | 262,441 | 0 | 819 | 13,857 | 25,759 | 25,759 | 0 | |
Dividends, Common Stock, Cash | (226,248) | 0 | 0 | (226,248) | 0 | 0 | 0 | (27,500) | (27,500) | 0 | (9,000) | (9,000) | 0 | ||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (113) | (113) | 0 | 0 | 0 | 0 | 0 | (113) | 0 | (113) | |||||||||||||||||
Proceeds from Noncontrolling Interests | 25,708 | 25,708 | 0 | 0 | 0 | 0 | 0 | 25,708 | 0 | 25,708 | |||||||||||||||||
Other comprehensive income (loss) | (3,292) | 0 | 0 | 0 | (3,292) | 0 | 0 | (1,773) | 0 | (1,773) | 0 | ||||||||||||||||
Common stock issuances related to stock plans | (17,128) | 0 | (16,528) | 0 | 0 | 0 | (600) | ||||||||||||||||||||
Other | 15 | 15 | 0 | 0 | |||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 13,367,545 | 130,479 | 7,634,305 | 10,751,778 | (193,019) | 2,797 | (4,958,795) | 2,808,555 | 38,750 | 1,050,125 | 1,670,228 | 49,452 | 2,105,450 | 2,082,159 | 23,291 | 3,818,943 | 3,793,970 | 24,973 | 11,309,693 | 11,209,667 | 52,811 | 47,215 | 726,815 | 1,003,071 | (83,779) | 1,086,850 | |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 2,959 | 518 | (1,640) | (791) | 810 | ||||||||||||||||||||||
Dividends, Preferred Stock, Cash | 4,580 | 4,580 | 0 | 0 | 0 | 0 | 0 | 518 | 0 | 0 | 518 | 0 | $ 4,000 | ||||||||||||||
Consolidated net income | 669,714 | 2,959 | 0 | 666,755 | 0 | 0 | 0 | 150,089 | 0 | 0 | 150,089 | 0 | 82,737 | 84,377 | (1,640) | 99,169 | 99,960 | (791) | 359,307 | 358,497 | 0 | 810 | 43,545 | 27,697 | 27,697 | 0 | |
Dividends, Common Stock, Cash | (226,257) | 0 | 0 | (226,257) | 0 | 0 | 0 | (53,000) | (53,000) | 0 | (157,750) | (157,750) | 0 | 0 | |||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $ (1,318) | (1,318) | 0 | 0 | 0 | 0 | 0 | (507) | 0 | (507) | (811) | 0 | 0 | (811) | |||||||||||||
Common stock dividend (in dollars per share) | $ 1.07 | ||||||||||||||||||||||||||
Other comprehensive income (loss) | $ (2,434) | 0 | 0 | 0 | (2,434) | 0 | 0 | (1,829) | 0 | (1,829) | 0 | ||||||||||||||||
Common stock issuances related to stock plans | (16,338) | 0 | (15,065) | 0 | 0 | 0 | (1,273) | ||||||||||||||||||||
Other | (12) | (12) | 0 | 0 | |||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 13,819,008 | $ 127,540 | $ 7,649,370 | $ 11,192,276 | $ (195,453) | $ 2,797 | $ (4,957,522) | $ 2,958,126 | $ 38,750 | $ 1,050,125 | $ 1,819,799 | $ 49,452 | $ 2,188,187 | $ 2,166,536 | $ 21,651 | $ 3,864,605 | $ 3,840,930 | $ 23,675 | $ 11,508,598 | $ 11,410,402 | $ 50,982 | $ 47,214 | $ 770,360 | $ 1,030,768 | $ (56,082) | $ 1,086,850 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securitized Regulatory Transition Assets, Noncurrent | $ 257,502 | $ 282,886 |
Long-term Transition Bond, Noncurrent | $ 278,286 | $ 292,760 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 499,000,000 | 499,000,000 |
Common Stock, Shares, Issued | 279,653,929 | 279,653,929 |
Treasury Stock, Shares | 68,182,125 | 68,477,429 |
Entergy Texas [Member] | ||
Securitized Regulatory Transition Assets, Noncurrent | $ 253,952 | $ 269,523 |
Long-term Transition Bond, Noncurrent | $ 266,480 | $ 275,064 |
Common Stock, Par or Stated Value Per Share | $ 0 | $ 0 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares, Issued | 46,525,000 | 46,525,000 |
Common Stock, Shares, Outstanding | 46,525,000 | 46,525,000 |
Entergy New Orleans [Member] | ||
Securitized Regulatory Transition Assets, Noncurrent | $ 3,550 | $ 13,363 |
Long-term Transition Bond, Noncurrent | $ 11,806 | $ 17,697 |
System Energy [Member] | ||
Common Stock, Par or Stated Value Per Share | $ 0 | $ 0 |
Common Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Common Stock, Shares, Issued | 789,350 | 789,350 |
Common Stock, Shares, Outstanding | 789,350 | 789,350 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | $ 0 | $ 0 | $ 0 | $ 0 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax | (743) | 3,505 | (1,078) | 7,689 |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax | 0 | 1,223 | 0 | (2,230) |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 2,959 | (4,707) | 5,092 | 2,794 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 664,321 | 571,257 | 1,365,235 | 1,015,850 |
Net income | 669,714 | 555,882 | 1,374,026 | 999,486 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | (2,434) | 11,867 | (3,699) | 26,240 |
Other comprehensive income (loss) | (2,434) | 10,668 | (3,699) | 19,158 |
Total comprehensive income | 667,280 | 566,550 | 1,370,327 | 1,018,644 |
Entergy Louisiana [Member] | ||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax | (674) | 109 | (1,617) | (298) |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 810 | 554 | 2,183 | 812 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 356,668 | 274,131 | 860,020 | 740,288 |
Net income | 359,307 | 274,390 | 866,591 | 741,909 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | (1,829) | 295 | (4,388) | (809) |
Other comprehensive income (loss) | (1,829) | 295 | (4,388) | (809) |
Total comprehensive income | $ 357,478 | $ 274,685 | $ 862,203 | $ 741,100 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory authorities, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. The following are updates to that discussion. As discussed in the Form 10-K, in March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million. Entergy Arkansas pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited, a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Entergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident was available. In October 2023, Entergy Arkansas made a commitment to the APSC to make a filing to forgo its opportunity to seek recovery of the identified costs resulting from the ANO stator incident, specifically all incremental fuel and purchased energy expense, capital and incremental non-fuel operations and maintenance costs, and costs of any judgement that may be rendered against Entergy Arkansas in civil litigation that is not covered by insurance. As a result, in third quarter 2023, Entergy Arkansas recorded write-offs of its regulatory asset for deferred fuel of $68.9 million, which includes interest, and the undepreciated balance of $9.5 million in capital costs related to the ANO stator incident. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following are updates to that discussion. In March 2023 the DOE submitted an offer of judgment to resolve claims in the fourth round ANO damages case. The $41 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in April 2023. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, materials and supplies, and taxes other than income taxes. The ANO damages awarded included $18 million related to costs previously recorded as plant, $10 million related to costs previously recorded as other operation and maintenance expense, $8 million related to costs previously recorded as nuclear fuel expense, $3 million related to costs previously recorded as materials and supplies, and $2 million related to costs previously recorded as taxes other than income taxes. In July 2023 the DOE submitted an offer of judgment to resolve claims in the Indian Point 2 fourth round and Indian Point 3 third round combined damages case. The $59 million offer was accepted by Entergy and Holtec International, as the current owner. The U.S. Court of Federal Claims issued a final judgment in that amount in favor of Holtec Indian Point 2, LLC and Holtec Indian Point 3, LLC (previously Entergy Nuclear Indian Point 2, LLC and Entergy Nuclear Indian Point 3, LLC) and against the DOE. Holtec received payment from the U.S. Treasury in July 2023. Consistent with certain terms agreed upon in connection with the sale of Indian Point Energy Center in May 2021, Holtec transferred $40 million to Entergy for its pro-rata share of the litigation proceeds in August 2023. The remainder of the judgment was retained by Holtec. The effect of recording Entergy’s pro-rata share of the judgment was a reduction to asset write-offs, impairments, and related charges (credits). Entergy’s pro-rata share of the damages awarded included $18 million related to costs previously recorded as spending on the asset retirement obligation, $15 million related to costs previously recorded as other operation and maintenance expense, $6 million related to costs previously recorded as plant, and $1 million related to costs previously recorded as taxes other than income taxes. Nuclear Insurance See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Non-Nuclear Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf - Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. Nelson Industrial Steam Company Entergy Louisiana is a partner in the Nelson Industrial Steam Company (NISCO) partnership which owns two petroleum coke generating units. In April 2023 these generating units suspended operations in the MISO market, and Entergy Louisiana currently is working to wind up the NISCO partnership, which will ultimately result in ownership of the generating units transferring to Entergy Louisiana. In May 2023, Entergy Louisiana filed an application with the FERC for transaction authorization pursuant to Section 203 of the Federal Power Act. In June 2023 the LPSC filed a notice to intervene in the proceeding. Entergy Louisiana is evaluating the effect of the transaction on its results of operations, cash flows, and financial condition, but at this time does not expect the effect to be material. |
Entergy Arkansas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory authorities, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. The following are updates to that discussion. As discussed in the Form 10-K, in March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million. Entergy Arkansas pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited, a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Entergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident was available. In October 2023, Entergy Arkansas made a commitment to the APSC to make a filing to forgo its opportunity to seek recovery of the identified costs resulting from the ANO stator incident, specifically all incremental fuel and purchased energy expense, capital and incremental non-fuel operations and maintenance costs, and costs of any judgement that may be rendered against Entergy Arkansas in civil litigation that is not covered by insurance. As a result, in third quarter 2023, Entergy Arkansas recorded write-offs of its regulatory asset for deferred fuel of $68.9 million, which includes interest, and the undepreciated balance of $9.5 million in capital costs related to the ANO stator incident. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following are updates to that discussion. In March 2023 the DOE submitted an offer of judgment to resolve claims in the fourth round ANO damages case. The $41 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in April 2023. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, materials and supplies, and taxes other than income taxes. The ANO damages awarded included $18 million related to costs previously recorded as plant, $10 million related to costs previously recorded as other operation and maintenance expense, $8 million related to costs previously recorded as nuclear fuel expense, $3 million related to costs previously recorded as materials and supplies, and $2 million related to costs previously recorded as taxes other than income taxes. In July 2023 the DOE submitted an offer of judgment to resolve claims in the Indian Point 2 fourth round and Indian Point 3 third round combined damages case. The $59 million offer was accepted by Entergy and Holtec International, as the current owner. The U.S. Court of Federal Claims issued a final judgment in that amount in favor of Holtec Indian Point 2, LLC and Holtec Indian Point 3, LLC (previously Entergy Nuclear Indian Point 2, LLC and Entergy Nuclear Indian Point 3, LLC) and against the DOE. Holtec received payment from the U.S. Treasury in July 2023. Consistent with certain terms agreed upon in connection with the sale of Indian Point Energy Center in May 2021, Holtec transferred $40 million to Entergy for its pro-rata share of the litigation proceeds in August 2023. The remainder of the judgment was retained by Holtec. The effect of recording Entergy’s pro-rata share of the judgment was a reduction to asset write-offs, impairments, and related charges (credits). Entergy’s pro-rata share of the damages awarded included $18 million related to costs previously recorded as spending on the asset retirement obligation, $15 million related to costs previously recorded as other operation and maintenance expense, $6 million related to costs previously recorded as plant, and $1 million related to costs previously recorded as taxes other than income taxes. Nuclear Insurance See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Non-Nuclear Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf - Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. Nelson Industrial Steam Company Entergy Louisiana is a partner in the Nelson Industrial Steam Company (NISCO) partnership which owns two petroleum coke generating units. In April 2023 these generating units suspended operations in the MISO market, and Entergy Louisiana currently is working to wind up the NISCO partnership, which will ultimately result in ownership of the generating units transferring to Entergy Louisiana. In May 2023, Entergy Louisiana filed an application with the FERC for transaction authorization pursuant to Section 203 of the Federal Power Act. In June 2023 the LPSC filed a notice to intervene in the proceeding. Entergy Louisiana is evaluating the effect of the transaction on its results of operations, cash flows, and financial condition, but at this time does not expect the effect to be material. |
Entergy Louisiana [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory authorities, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. The following are updates to that discussion. As discussed in the Form 10-K, in March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million. Entergy Arkansas pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited, a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Entergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident was available. In October 2023, Entergy Arkansas made a commitment to the APSC to make a filing to forgo its opportunity to seek recovery of the identified costs resulting from the ANO stator incident, specifically all incremental fuel and purchased energy expense, capital and incremental non-fuel operations and maintenance costs, and costs of any judgement that may be rendered against Entergy Arkansas in civil litigation that is not covered by insurance. As a result, in third quarter 2023, Entergy Arkansas recorded write-offs of its regulatory asset for deferred fuel of $68.9 million, which includes interest, and the undepreciated balance of $9.5 million in capital costs related to the ANO stator incident. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following are updates to that discussion. In March 2023 the DOE submitted an offer of judgment to resolve claims in the fourth round ANO damages case. The $41 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in April 2023. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, materials and supplies, and taxes other than income taxes. The ANO damages awarded included $18 million related to costs previously recorded as plant, $10 million related to costs previously recorded as other operation and maintenance expense, $8 million related to costs previously recorded as nuclear fuel expense, $3 million related to costs previously recorded as materials and supplies, and $2 million related to costs previously recorded as taxes other than income taxes. In July 2023 the DOE submitted an offer of judgment to resolve claims in the Indian Point 2 fourth round and Indian Point 3 third round combined damages case. The $59 million offer was accepted by Entergy and Holtec International, as the current owner. The U.S. Court of Federal Claims issued a final judgment in that amount in favor of Holtec Indian Point 2, LLC and Holtec Indian Point 3, LLC (previously Entergy Nuclear Indian Point 2, LLC and Entergy Nuclear Indian Point 3, LLC) and against the DOE. Holtec received payment from the U.S. Treasury in July 2023. Consistent with certain terms agreed upon in connection with the sale of Indian Point Energy Center in May 2021, Holtec transferred $40 million to Entergy for its pro-rata share of the litigation proceeds in August 2023. The remainder of the judgment was retained by Holtec. The effect of recording Entergy’s pro-rata share of the judgment was a reduction to asset write-offs, impairments, and related charges (credits). Entergy’s pro-rata share of the damages awarded included $18 million related to costs previously recorded as spending on the asset retirement obligation, $15 million related to costs previously recorded as other operation and maintenance expense, $6 million related to costs previously recorded as plant, and $1 million related to costs previously recorded as taxes other than income taxes. Nuclear Insurance See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Non-Nuclear Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf - Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. Nelson Industrial Steam Company Entergy Louisiana is a partner in the Nelson Industrial Steam Company (NISCO) partnership which owns two petroleum coke generating units. In April 2023 these generating units suspended operations in the MISO market, and Entergy Louisiana currently is working to wind up the NISCO partnership, which will ultimately result in ownership of the generating units transferring to Entergy Louisiana. In May 2023, Entergy Louisiana filed an application with the FERC for transaction authorization pursuant to Section 203 of the Federal Power Act. In June 2023 the LPSC filed a notice to intervene in the proceeding. Entergy Louisiana is evaluating the effect of the transaction on its results of operations, cash flows, and financial condition, but at this time does not expect the effect to be material. |
Entergy Mississippi [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory authorities, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. The following are updates to that discussion. As discussed in the Form 10-K, in March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million. Entergy Arkansas pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited, a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Entergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident was available. In October 2023, Entergy Arkansas made a commitment to the APSC to make a filing to forgo its opportunity to seek recovery of the identified costs resulting from the ANO stator incident, specifically all incremental fuel and purchased energy expense, capital and incremental non-fuel operations and maintenance costs, and costs of any judgement that may be rendered against Entergy Arkansas in civil litigation that is not covered by insurance. As a result, in third quarter 2023, Entergy Arkansas recorded write-offs of its regulatory asset for deferred fuel of $68.9 million, which includes interest, and the undepreciated balance of $9.5 million in capital costs related to the ANO stator incident. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following are updates to that discussion. In March 2023 the DOE submitted an offer of judgment to resolve claims in the fourth round ANO damages case. The $41 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in April 2023. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, materials and supplies, and taxes other than income taxes. The ANO damages awarded included $18 million related to costs previously recorded as plant, $10 million related to costs previously recorded as other operation and maintenance expense, $8 million related to costs previously recorded as nuclear fuel expense, $3 million related to costs previously recorded as materials and supplies, and $2 million related to costs previously recorded as taxes other than income taxes. In July 2023 the DOE submitted an offer of judgment to resolve claims in the Indian Point 2 fourth round and Indian Point 3 third round combined damages case. The $59 million offer was accepted by Entergy and Holtec International, as the current owner. The U.S. Court of Federal Claims issued a final judgment in that amount in favor of Holtec Indian Point 2, LLC and Holtec Indian Point 3, LLC (previously Entergy Nuclear Indian Point 2, LLC and Entergy Nuclear Indian Point 3, LLC) and against the DOE. Holtec received payment from the U.S. Treasury in July 2023. Consistent with certain terms agreed upon in connection with the sale of Indian Point Energy Center in May 2021, Holtec transferred $40 million to Entergy for its pro-rata share of the litigation proceeds in August 2023. The remainder of the judgment was retained by Holtec. The effect of recording Entergy’s pro-rata share of the judgment was a reduction to asset write-offs, impairments, and related charges (credits). Entergy’s pro-rata share of the damages awarded included $18 million related to costs previously recorded as spending on the asset retirement obligation, $15 million related to costs previously recorded as other operation and maintenance expense, $6 million related to costs previously recorded as plant, and $1 million related to costs previously recorded as taxes other than income taxes. Nuclear Insurance See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Non-Nuclear Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf - Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. Nelson Industrial Steam Company Entergy Louisiana is a partner in the Nelson Industrial Steam Company (NISCO) partnership which owns two petroleum coke generating units. In April 2023 these generating units suspended operations in the MISO market, and Entergy Louisiana currently is working to wind up the NISCO partnership, which will ultimately result in ownership of the generating units transferring to Entergy Louisiana. In May 2023, Entergy Louisiana filed an application with the FERC for transaction authorization pursuant to Section 203 of the Federal Power Act. In June 2023 the LPSC filed a notice to intervene in the proceeding. Entergy Louisiana is evaluating the effect of the transaction on its results of operations, cash flows, and financial condition, but at this time does not expect the effect to be material. |
Entergy New Orleans [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory authorities, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. The following are updates to that discussion. As discussed in the Form 10-K, in March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million. Entergy Arkansas pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited, a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Entergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident was available. In October 2023, Entergy Arkansas made a commitment to the APSC to make a filing to forgo its opportunity to seek recovery of the identified costs resulting from the ANO stator incident, specifically all incremental fuel and purchased energy expense, capital and incremental non-fuel operations and maintenance costs, and costs of any judgement that may be rendered against Entergy Arkansas in civil litigation that is not covered by insurance. As a result, in third quarter 2023, Entergy Arkansas recorded write-offs of its regulatory asset for deferred fuel of $68.9 million, which includes interest, and the undepreciated balance of $9.5 million in capital costs related to the ANO stator incident. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following are updates to that discussion. In March 2023 the DOE submitted an offer of judgment to resolve claims in the fourth round ANO damages case. The $41 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in April 2023. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, materials and supplies, and taxes other than income taxes. The ANO damages awarded included $18 million related to costs previously recorded as plant, $10 million related to costs previously recorded as other operation and maintenance expense, $8 million related to costs previously recorded as nuclear fuel expense, $3 million related to costs previously recorded as materials and supplies, and $2 million related to costs previously recorded as taxes other than income taxes. In July 2023 the DOE submitted an offer of judgment to resolve claims in the Indian Point 2 fourth round and Indian Point 3 third round combined damages case. The $59 million offer was accepted by Entergy and Holtec International, as the current owner. The U.S. Court of Federal Claims issued a final judgment in that amount in favor of Holtec Indian Point 2, LLC and Holtec Indian Point 3, LLC (previously Entergy Nuclear Indian Point 2, LLC and Entergy Nuclear Indian Point 3, LLC) and against the DOE. Holtec received payment from the U.S. Treasury in July 2023. Consistent with certain terms agreed upon in connection with the sale of Indian Point Energy Center in May 2021, Holtec transferred $40 million to Entergy for its pro-rata share of the litigation proceeds in August 2023. The remainder of the judgment was retained by Holtec. The effect of recording Entergy’s pro-rata share of the judgment was a reduction to asset write-offs, impairments, and related charges (credits). Entergy’s pro-rata share of the damages awarded included $18 million related to costs previously recorded as spending on the asset retirement obligation, $15 million related to costs previously recorded as other operation and maintenance expense, $6 million related to costs previously recorded as plant, and $1 million related to costs previously recorded as taxes other than income taxes. Nuclear Insurance See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Non-Nuclear Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf - Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. Nelson Industrial Steam Company Entergy Louisiana is a partner in the Nelson Industrial Steam Company (NISCO) partnership which owns two petroleum coke generating units. In April 2023 these generating units suspended operations in the MISO market, and Entergy Louisiana currently is working to wind up the NISCO partnership, which will ultimately result in ownership of the generating units transferring to Entergy Louisiana. In May 2023, Entergy Louisiana filed an application with the FERC for transaction authorization pursuant to Section 203 of the Federal Power Act. In June 2023 the LPSC filed a notice to intervene in the proceeding. Entergy Louisiana is evaluating the effect of the transaction on its results of operations, cash flows, and financial condition, but at this time does not expect the effect to be material. |
Entergy Texas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory authorities, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. The following are updates to that discussion. As discussed in the Form 10-K, in March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million. Entergy Arkansas pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited, a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Entergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident was available. In October 2023, Entergy Arkansas made a commitment to the APSC to make a filing to forgo its opportunity to seek recovery of the identified costs resulting from the ANO stator incident, specifically all incremental fuel and purchased energy expense, capital and incremental non-fuel operations and maintenance costs, and costs of any judgement that may be rendered against Entergy Arkansas in civil litigation that is not covered by insurance. As a result, in third quarter 2023, Entergy Arkansas recorded write-offs of its regulatory asset for deferred fuel of $68.9 million, which includes interest, and the undepreciated balance of $9.5 million in capital costs related to the ANO stator incident. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following are updates to that discussion. In March 2023 the DOE submitted an offer of judgment to resolve claims in the fourth round ANO damages case. The $41 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in April 2023. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, materials and supplies, and taxes other than income taxes. The ANO damages awarded included $18 million related to costs previously recorded as plant, $10 million related to costs previously recorded as other operation and maintenance expense, $8 million related to costs previously recorded as nuclear fuel expense, $3 million related to costs previously recorded as materials and supplies, and $2 million related to costs previously recorded as taxes other than income taxes. In July 2023 the DOE submitted an offer of judgment to resolve claims in the Indian Point 2 fourth round and Indian Point 3 third round combined damages case. The $59 million offer was accepted by Entergy and Holtec International, as the current owner. The U.S. Court of Federal Claims issued a final judgment in that amount in favor of Holtec Indian Point 2, LLC and Holtec Indian Point 3, LLC (previously Entergy Nuclear Indian Point 2, LLC and Entergy Nuclear Indian Point 3, LLC) and against the DOE. Holtec received payment from the U.S. Treasury in July 2023. Consistent with certain terms agreed upon in connection with the sale of Indian Point Energy Center in May 2021, Holtec transferred $40 million to Entergy for its pro-rata share of the litigation proceeds in August 2023. The remainder of the judgment was retained by Holtec. The effect of recording Entergy’s pro-rata share of the judgment was a reduction to asset write-offs, impairments, and related charges (credits). Entergy’s pro-rata share of the damages awarded included $18 million related to costs previously recorded as spending on the asset retirement obligation, $15 million related to costs previously recorded as other operation and maintenance expense, $6 million related to costs previously recorded as plant, and $1 million related to costs previously recorded as taxes other than income taxes. Nuclear Insurance See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Non-Nuclear Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf - Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. Nelson Industrial Steam Company Entergy Louisiana is a partner in the Nelson Industrial Steam Company (NISCO) partnership which owns two petroleum coke generating units. In April 2023 these generating units suspended operations in the MISO market, and Entergy Louisiana currently is working to wind up the NISCO partnership, which will ultimately result in ownership of the generating units transferring to Entergy Louisiana. In May 2023, Entergy Louisiana filed an application with the FERC for transaction authorization pursuant to Section 203 of the Federal Power Act. In June 2023 the LPSC filed a notice to intervene in the proceeding. Entergy Louisiana is evaluating the effect of the transaction on its results of operations, cash flows, and financial condition, but at this time does not expect the effect to be material. |
System Energy [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory authorities, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. The following are updates to that discussion. As discussed in the Form 10-K, in March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million. Entergy Arkansas pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited, a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Entergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident was available. In October 2023, Entergy Arkansas made a commitment to the APSC to make a filing to forgo its opportunity to seek recovery of the identified costs resulting from the ANO stator incident, specifically all incremental fuel and purchased energy expense, capital and incremental non-fuel operations and maintenance costs, and costs of any judgement that may be rendered against Entergy Arkansas in civil litigation that is not covered by insurance. As a result, in third quarter 2023, Entergy Arkansas recorded write-offs of its regulatory asset for deferred fuel of $68.9 million, which includes interest, and the undepreciated balance of $9.5 million in capital costs related to the ANO stator incident. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following are updates to that discussion. In March 2023 the DOE submitted an offer of judgment to resolve claims in the fourth round ANO damages case. The $41 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in April 2023. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, materials and supplies, and taxes other than income taxes. The ANO damages awarded included $18 million related to costs previously recorded as plant, $10 million related to costs previously recorded as other operation and maintenance expense, $8 million related to costs previously recorded as nuclear fuel expense, $3 million related to costs previously recorded as materials and supplies, and $2 million related to costs previously recorded as taxes other than income taxes. In July 2023 the DOE submitted an offer of judgment to resolve claims in the Indian Point 2 fourth round and Indian Point 3 third round combined damages case. The $59 million offer was accepted by Entergy and Holtec International, as the current owner. The U.S. Court of Federal Claims issued a final judgment in that amount in favor of Holtec Indian Point 2, LLC and Holtec Indian Point 3, LLC (previously Entergy Nuclear Indian Point 2, LLC and Entergy Nuclear Indian Point 3, LLC) and against the DOE. Holtec received payment from the U.S. Treasury in July 2023. Consistent with certain terms agreed upon in connection with the sale of Indian Point Energy Center in May 2021, Holtec transferred $40 million to Entergy for its pro-rata share of the litigation proceeds in August 2023. The remainder of the judgment was retained by Holtec. The effect of recording Entergy’s pro-rata share of the judgment was a reduction to asset write-offs, impairments, and related charges (credits). Entergy’s pro-rata share of the damages awarded included $18 million related to costs previously recorded as spending on the asset retirement obligation, $15 million related to costs previously recorded as other operation and maintenance expense, $6 million related to costs previously recorded as plant, and $1 million related to costs previously recorded as taxes other than income taxes. Nuclear Insurance See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Non-Nuclear Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf - Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. Nelson Industrial Steam Company Entergy Louisiana is a partner in the Nelson Industrial Steam Company (NISCO) partnership which owns two petroleum coke generating units. In April 2023 these generating units suspended operations in the MISO market, and Entergy Louisiana currently is working to wind up the NISCO partnership, which will ultimately result in ownership of the generating units transferring to Entergy Louisiana. In May 2023, Entergy Louisiana filed an application with the FERC for transaction authorization pursuant to Section 203 of the Federal Power Act. In June 2023 the LPSC filed a notice to intervene in the proceeding. Entergy Louisiana is evaluating the effect of the transaction on its results of operations, cash flows, and financial condition, but at this time does not expect the effect to be material. |
Rate And Regulatory Matters
Rate And Regulatory Matters | 9 Months Ended |
Sep. 30, 2023 | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy As discussed in the Form 10-K, in a filing made with the FERC in March 2018, System Energy proposed revisions to the Unit Power Sales Agreement to reflect the effects of the Tax Cuts and Jobs Act. In July 2020 the presiding ALJ in the proceeding issued an initial decision finding that there is an additional $147 million in unprotected excess accumulated deferred income taxes related to System Energy’s uncertain decommissioning tax deduction. In December 2022 the FERC issued an order addressing the ALJ’s initial decision and denying System Energy’s motion to vacate the initial decision. The FERC disagreed with the ALJ’s determination that $147 million should be credited to customers in the same manner as the excess accumulated deferred income taxes addressed in System Energy’s March 2018 filing, which had included a stated amount of excess accumulated deferred income taxes to be returned pursuant to a specified methodology and had not included any excess accumulated deferred income taxes associated with the decommissioning tax position. Instead, the FERC ordered System Energy to compute the amount of excess accumulated deferred income taxes associated with the decommissioning tax position with consideration for the resolution of the tax position by the IRS. In February 2023, System Energy made the required filing with the FERC. In June 2023 the FERC issued a deficiency letter requesting additional information about the IRS’s resolution of the tax position for 2016 and 2017. In July 2023, System Energy provided the additional information. Fuel and purchased power cost recovery Entergy Arkansas See Note 1 to the financial statements herein for discussion of the write-off in third quarter 2023 of Entergy Arkansas’s $68.9 million regulatory asset for deferred fuel related to the ANO stator incident as a result of a commitment, made in October 2023, by Entergy Arkansas to the APSC to make a filing to forgo its opportunity to seek recovery of the incremental fuel and purchased energy expense resulting from the ANO stator incident. Energy Cost Recovery Rider As discussed in the Form 10-K, in March 2021, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which included an adjustment to account for a portion of the increased fuel costs resulting from the February 2021 winter storms. In February 2023 the APSC issued orders initiating proceedings with the utilities under its jurisdiction to address the prudence of costs incurred and appropriate cost allocation of the February 2021 winter storms. With respect to any prudence review of Entergy Arkansas fuel costs, as part of the APSC’s draft report issued in its February 2021 winter storms investigation docket, the APSC included findings that the load shedding plans of the investor-owned utilities and some cooperatives were appropriate and comprehensive, and, further, that Entergy Arkansas’s emergency plan was comprehensive and had a multilayered approach supported by a system-wide response plan, which is considered an industry standard. In September 2023 the APSC issued an order in Entergy Arkansas's company-specific proceeding and found that Entergy Arkansas’s practices during the winter storms were prudent. In March 2023, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase from $0.01639 per kWh to $0.01883 per kWh. The primary reason for the rate increase is a large under-recovered balance as a result of higher natural gas prices in 2022 and a $32 million deferral related to the February 2021 winter storms consistent with the APSC general staff’s request in 2022. The under-recovered balance included in the filing was partially offset by the proceeds of the $41.7 million refund that System Energy made to Entergy Arkansas in January 2023 related to the sale-leaseback renewal costs and depreciation litigation as calculated in System Energy’s January 2023 compliance report filed with the FERC. The redetermined rate of $0.01883 per kWh became effective with the first billing cycle in April 2023 through the normal operation of the tariff. Entergy Louisiana As discussed in the Form 10-K, in March 2021 the LPSC staff provided notice of an audit of Entergy Louisiana’s purchased gas adjustment clause filings covering the period January 2018 through December 2020. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s purchased gas adjustment clause for that period. In August 2023 the LPSC submitted its audit report and found that materially all costs recovered through the purchased gas adjustment filings were reasonable and eligible for recovery through the purchased gas adjustment clause. Entergy Mississippi In June 2023 the MPSC approved the joint stipulation agreement between Entergy Mississippi and the Mississippi Public Utilities Staff for Entergy Mississippi’s 2023 formula rate plan filing. The stipulation directed Entergy Mississippi to make a compliance filing to revise its power management cost adjustment factor, to revise its grid modernization cost adjustment factor, and to include a revision to reduce the net energy cost factor to a level necessary to reflect an average natural gas price of $4.50 per MMBtu. The MPSC approved the compliance filing in June 2023, effective for July 2023 bills. See “ Retail Rate Proceedings - Filings with the MPSC (Entergy Mississippi) - Retail Rates - 2023 Formula Rate Plan Filing” below for further discussion of the 2023 formula rate plan filing and the joint stipulation agreement. Entergy Texas As discussed in the Form 10-K, in September 2022, Entergy Texas filed an application with the PUCT to reconcile its fuel and purchased power costs for the period from April 2019 through March 2022. During the reconciliation period, Entergy Texas incurred approximately $1.7 billion in eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. As of the end of the reconciliation period, Entergy Texas’s cumulative under-recovery balance was approximately $103.1 million, including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2022, pending future surcharges or refunds as approved by the PUCT. In November 2022 the PUCT referred the proceeding to the State Office of Administrative Hearings. In March 2023 municipal intervenors filed testimony proposing a $5.2 million disallowance for fuel purchased during Winter Storm Uri. The PUCT staff proposed no disallowance. Entergy Texas filed rebuttal testimony in April 2023. In May 2023, Entergy Texas filed, and the ALJ with the State Office of Administrative Hearings granted, a joint motion to abate the proceeding to give parties additional time to finalize a settlement and cancelling the hearing on the merits previously scheduled for May 2023. In July 2023, Entergy Texas filed an unopposed settlement, supporting testimony, and an agreed motion to admit evidence and remand the proceeding to the PUCT. Pursuant to the unopposed settlement, Entergy Texas would receive no disallowance of fuel costs incurred over the three-year reconciliation period and retain $9.3 million in margins from off-system sales made during the reconciliation period, resulting in a cumulative under-recovery balance of approximately $99.7 million, including interest, as of the end of the reconciliation period. In July 2023 the ALJ with the State Office of Administrative Hearings granted the motion to admit evidence and remanded the proceeding to the PUCT for consideration of the unopposed settlement. The PUCT approved the settlement in September 2023. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2023 Formula Rate Plan Filing In July 2023, Entergy Arkansas filed with the APSC its 2023 formula rate plan filing to set its formula rate for the 2024 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2024 and a netting adjustment for the historical year 2022. The filing showed that Entergy Arkansas’s earned rate of return on common equity for the 2024 projected year is 8.11% resulting in a revenue deficiency of $80.5 million. The earned rate of return on common equity for the 2022 historical year was 7.29% resulting in a $49.8 million netting adjustment. The total proposed revenue change for the 2024 projected year and 2022 historical year netting adjustment is $130.3 million. By operation of the formula rate plan, Entergy Arkansas’s recovery of the revenue requirement is subject to a four percent annual revenue constraint. Because Entergy Arkansas’s revenue requirement in this filing exceeded the constraint, the resulting increase was limited to $88.6 million. The APSC general staff and intervenors filed their errors and objections in October 2023, proposing certain adjustments, including the APSC general staff’s update to annual filing year revenues which lowers the constraint to $87.7 million. Entergy Arkansas filed its rebuttal in October 2023. In October 2023, Entergy Arkansas filed with the APSC a settlement agreement reached with other parties resolving all issues in the proceeding, none of which affected Entergy Arkansas’s requested recovery up to the cap constraint of $87.7 million. The settlement agreement is pending the APSC’s approval. COVID-19 Orders See Note 2 to the financial statements in the Form 10-K for discussion of APSC orders issued in light of the COVID-19 pandemic. In its 2023 formula rate plan filing, Entergy Arkansas proposed to amortize the COVID-19 regulatory asset over a ten-year period. No party opposed Entergy Arkansas’s request. As of September 30, 2023, Entergy Arkansas had a regulatory asset of $39 million for costs associated with the COVID-19 pandemic. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2022 Formula Rate Plan Filing In May 2023, Entergy Louisiana filed its formula rate plan evaluation report for its 2022 calendar year operations. The 2022 test year evaluation report produced an earned return on common equity of 8.33%, requiring an approximately $70.7 million increase to base rider revenue. Due to a cap for the 2021 and 2022 test years, however, base rider formula rate plan revenues are only being increased by approximately $4.9 million, leaving an ongoing revenue deficiency of approximately $65.9 million and providing for prospective return on common equity opportunity of approximately 8.38%. Other changes in formula rate plan revenue driven by increases in capacity costs, primarily legacy capacity costs, additions eligible for recovery through the transmission recovery mechanism and distribution recovery mechanism, and higher sales during the test period are offset by reductions in net MISO costs as well as credits for FERC-ordered refunds. Also included in the 2022 test year distribution recovery mechanism revenue requirement is a $6 million credit relating to the distribution recovery mechanism performance accountability standards and requirements. In total, the net increase in formula rate plan revenues, including base formula rate plan revenues inside the formula rate plan bandwidth and subject to the cap, as well as other formula rate plan revenues outside of the bandwidth, is $85.2 million. In August 2023 the LPSC staff filed a list of objections/reservations, including outstanding issues from the test years 2017-2021 formula rate plan filings, the calculation of certain refunds from System Energy, and certain calculations relating to the tax reform adjustment mechanism. Subject to refund and LPSC review, the resulting net increase in formula rate plan revenues of $85.2 million became effective for bills rendered during the first billing cycle of September 2023. 2023 Entergy Louisiana Rate Case and Formula Rate Plan Extension Request In August 2023, Entergy Louisiana filed an application for approval of a regulatory blueprint necessary for it to strengthen the electric grid for the State of Louisiana, which contains a dual-path request to update rates through either: (1) extension of Entergy Louisiana’s current formula rate plan (with certain modifications) for three years (the Rate Mitigation Proposal), which is Entergy Louisiana’s recommended path; or (2) implementation of rates resulting from a cost-of-service study (the Rate Case path). The application complies with Entergy Louisiana’s previous formula rate plan extension order requiring that for Entergy Louisiana to obtain another extension of its formula rate plan that included a rate reset, Entergy Louisiana would need to submit a full cost-of-service/rate case. Entergy Louisiana’s filing supports the need to extend Entergy Louisiana’s formula rate plan with credit supportive mechanisms needed to facilitate investment in the distribution, transmission, and generation functions. The Rate Case path proposes a 2024-2026 test year formula rate plan with an initial revenue requirement increase, net of $17 million of one-time credits, of $430 million and a return on common equity of 10.5%. Depreciation rates would be updated for all asset classes. The Rate Mitigation Proposal proposes a 2023-2025 test year formula rate plan with an expected initial revenue requirement increase, also net of $17 million of one-time credits, of $173 million and a return on common equity of 10.0%. Depreciation rates would be updated only for nuclear assets and would be phased in over three years. Under both paths, Entergy Louisiana’s filing proposes removing the cap on amounts allowed to be recovered through the distribution recovery mechanism and continuing the distribution recovery mechanism performance accountability targets, which tie Entergy Louisiana’s ability to fully recover its distribution recovery mechanism investments to its reliability performance. Entergy Louisiana’s filing also includes new customer-centric programs specifically focused on affordability, such as reducing late fees and certain other fees assessed to customers, lowering additional facilities charge rates, providing eligible low-income seniors with monthly discounts on their electric bill, and adding new voluntary customer options to support new transportation electrification technologies. A status conference was held in October 2023 at which a procedural schedule was adopted that includes a hearing date of August 2024. 2017-2021 Formula Rate Plan Filings In October 2023, Entergy Louisiana and the LPSC staff jointly filed an uncontested stipulated settlement agreement for consideration by the LPSC that would resolve the evaluation of Entergy Louisiana’s formula rate plan for test years 2017, 2018, and 2019 and resolve certain disputed issues for test years 2020 and 2021. If approved by the LPSC, the settlement would result in a one-time cost of service credit to customers of $5.8 million, would allow Entergy Louisiana to retain approximately $6.2 million of excess securitization collection as recovery of a regulatory asset associated with late fees related to the 2016 Baton Rouge flood, and would result in the reversal of a regulatory liability for excess accumulated deferred income taxes recognized in 2017 as a result of the Tax Cuts and Jobs Act. See Note 3 to the financial statements in the Form 10-K for further discussion of the Tax Cuts and Jobs Act. It is anticipated that the settlement will be considered by the LPSC in November 2023. COVID-19 Orders As discussed in the Form 10-K, in April 2020 the LPSC issued an order authorizing utilities to record as a regulatory asset expenses incurred from the suspension of disconnections and collection of late fees imposed by LPSC orders associated with the COVID-19 pandemic. In April 2023, Entergy Louisiana filed an application proposing to utilize approximately $1.6 billion in certain low interest debt to generate earnings to apply toward the reduction of the COVID-19 regulatory asset, as well as to conduct additional outside right-of-way vegetation management activities and to apply to the minor storm reserve account. In that filing, Entergy Louisiana proposed to delay repayment of certain shorter-term first mortgage bonds that were issued to finance storm restoration costs until the costs could be securitized and to invest the funds that otherwise would be used to repay those bonds in the money pool to take advantage of the spread between prevailing interest rates on investments in the money pool and the interest rates on the bonds. The LPSC approved Entergy Louisiana’s requested relief in June 2023 and a subsequent filing will be required to permit the LPSC to review the COVID-19 regulatory asset. As of September 30, 2023, Entergy Louisiana had a regulatory asset of $47.8 million for costs associated with the COVID -19 pandemic. Filings with the MPSC (Entergy Mississippi) Retail Rates 2023 Formula Rate Plan Filing In March 2023, Entergy Mississippi submitted its formula rate plan 2023 test year filing and 2022 look-back filing showing Entergy Mississippi’s earned return on rate base for the historical 2022 calendar year to be below the formula rate plan bandwidth and projected earned return for the 2023 calendar year to be below the formula rate plan bandwidth. The 2023 test year filing shows a $39.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on rate base to the specified point of adjustment of 6.67%, within the formula rate plan bandwidth. The 2022 look-back filing compares actual 2022 results to the approved benchmark return on rate base and reflects the need for a $19.8 million temporary increase in formula rate plan revenues, including the refund of a $1.3 million over-recovery resulting from the demand-side management costs true-up for 2022. In fourth quarter 2022, Entergy Mississippi recorded a regulatory asset of $18.2 million in connection with the look-back feature of the formula rate plan to reflect that the 2022 estimated earned return was below the formula rate plan bandwidth. In accordance with the provisions of the formula rate plan, Entergy Mississippi implemented a $27.9 million interim rate increase, reflecting a cap equal to 2% of 2022 retail revenues, effective in April 2023. In May 2023, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed a 2023 test year filing resulting in a total revenue increase of $26.5 million for 2023. Pursuant to the joint stipulation, Entergy Mississippi’s 2022 look-back filing reflected an earned return on rate base of 6.10% in calendar year 2022, which is below the look-back bandwidth, resulting in a $19 million increase in the formula rate plan revenues on an interim basis through June 2024. Entergy Mississippi recorded a regulatory credit of $0.8 million in June 2023 to reflect the increase in the look-back regulatory asset. In addition, certain long-term service agreement and conductor handling costs were authorized for realignment from the formula rate plan to the annual power management and grid modernization riders effective January 2023, resulting in regulatory credits recorded in June 2023 of $4.1 million and $4.3 million, respectively. Also, the amortization of Entergy Mississippi’s COVID-19 bad debt deferral was suspended for calendar year 2023 and will resume in 2024. In June 2023 the MPSC approved the joint stipulation with rates effective in July 2023. Filings with the City Council (Entergy New Orleans) Retail Rates 2023 Formula Rate Plan Filing In April 2023, Entergy New Orleans submitted to the City Council its formula rate plan 2022 test year filing. The 2022 test year evaluation report produced an electric earned return on equity of 7.34% and a gas earned return on equity of 3.52% compared to the authorized return on equity for each of 9.35%. Entergy New Orleans sought approval of a $25.6 million rate increase based on the formula set by the City Council in the 2018 rate case. The formula would result in an increase in authorized electric revenues of $17.4 million and an increase in authorized gas revenues of $8.2 million. Entergy New Orleans also sought to commence collecting $3.4 million in electric revenues that were previously approved by the City Council for collection through the formula rate plan. In July 2023, Entergy New Orleans filed a report to decrease its requested formula rate plan revenues by approximately $0.5 million to account for minor errors discovered after the filing. The City Council advisors issued a report seeking a reduction in the requested formula rate plan revenues of approximately $8.3 million, combined for electric and gas, due to alleged errors. The City Council advisors proposed additional rate mitigation in the amount of $12 million through offsets to the formula rate plan rate increase by certain regulatory liabilities. In September 2023 the City Council approved an agreement to settle the 2023 formula rate plan filing. Effective with the first billing cycle of September 2023, Entergy New Orleans implemented rates reflecting an amount agreed upon by Entergy New Orleans and the City Council, per the approved process for formula rate plan implementation. The agreement provides for a total increase in electric revenues of $10.5 million and a total increase in gas revenues of $6.9 million. The agreement also provides for a minor storm accrual of $0.5 million per year and the distribution of $8.9 million of currently held customer credits to implement the City Council advisors’ mitigation recommendations. Request for Extension and Modification of Formula Rate Plan In September 2023, Entergy New Orleans filed a motion seeking City Council approval of a three-year extension of Entergy New Orleans’s electric and gas formula rate plans. In October 2023 the City Council granted Entergy New Orleans’s request for an extension, subject to minor modifications which included a capital structure not to exceed 55% equity. Filings with the PUCT and Texas Cities (Entergy Texas) Retail Rates 2022 Base Rate Case As discussed in the Form 10-K, in July 2022, Entergy Texas filed a base rate case with the PUCT seeking a net increase in base rates of approximately $131.4 million. The base rate case was based on a 12-month test year ending December 31, 2021. Key drivers of the requested increase were changes in depreciation rates as the result of a depreciation study and an increase in the return on equity. In addition, Entergy Texas included capital additions placed into service for the period of January 1, 2018 through December 31, 2021, including those additions reflected in the then-effective distribution and transmission cost recovery factor riders and the generation cost recovery rider, all of which have been reset to zero as a result of this proceeding. In May 2023, Entergy Texas filed on behalf of the parties an unopposed settlement resolving all issues in the proceeding, except for issues related to electric vehicle charging infrastructure, and Entergy Texas filed an agreed motion for interim rates, subject to refund or surcharge to the extent that the interim rates differ from the final approved rates. The unopposed settlement reflected a net base rate increase to be effective and relate back to December 2022 of $54 million, exclusive of, and incremental to, the costs being realigned from the distribution and transmission cost recovery factor riders and the generation cost recovery rider and $4.8 million of rate case expenses to be recovered through a rider over a period of 36 months. The net base rate increase of $54 million includes updated depreciation rates and a total annual revenue requirement of $14.5 million for the accrual of a self-insured storm reserve and the recovery of the regulatory assets for the pension and postretirement benefits expense deferral, costs associated with the COVID-19 pandemic, and retired non-advanced metering system electric meters. In May 2023 the ALJ with the State Office of Administrative Hearings granted the motion for interim rates, which became effective in June 2023. Additionally, the ALJ remanded the proceeding, except for the issues related to electric vehicle charging infrastructure, to the PUCT to consider the settlement. In June 2023 the ALJ issued a proposal for decision related to the electric vehicle charging infrastructure issues and which noted recent legislation enacted which permits electric utilities to own and operate such infrastructure. The ALJ’s proposal for decision deferred to the PUCT regarding whether it is appropriate for any vertically integrated electric utility, or Entergy Texas specifically, to own electric vehicle charging infrastructure, and in the event that the PUCT decided ownership is permissible, the ALJ recommended approval of the proposed tariff to charge host customers for utility-owned and operated electric vehicle charging infrastructure sited on customer premises and denial of the proposed tariff to temporarily adjust billing demand charges for separately metered electric vehicle charging infrastructure, citing cost-shifting concerns. In July 2023 the parties filed exceptions and replies to exceptions to the proposal for decision. In August 2023 the PUCT issued an order approving the unopposed settlement and also issued an order severing the issues related to electric vehicle charging infrastructure addressed in the ALJ’s proposal for decision to a separate proceeding. Concurrently, Entergy Texas recorded the reversal of $21.9 million of regulatory liabilities to reflect the recognition of certain receipts by Entergy Texas under affiliated PPAs that have been resolved. Following the PUCT’s approval of the unopposed settlement in August 2023, Entergy Texas recorded a regulatory liability of $8.9 million, which reflects the net effects of higher depreciation and amortizations for the relate back period, partially offset by the relate back of base rate revenues that would have been collected had the approved rates been in effect for the period from December 2022 through June 2023, the date the new base rates were implemented on an interim basis. In October 2023, Entergy Texas filed a relate back surcharge rider to collect over six months beginning in January 2024 an additional approximately $24.6 million, which is the revenue requirement associated with the relate back of rates from December 2022 through June 2023, including carrying costs, as authorized by the PUCT’s August 2023 order. A final decision by the PUCT is expected by first quarter 2024. Generation Cost Recovery Rider As discussed in the Form 10-K, in August 2022 the PUCT approved a unanimous settlement agreement adjusting Entergy Texas’s generation cost recovery rider to recover an annual revenue requirement of approximately $92.8 million related to Entergy Texas’s actual investment in the acquisition of the Hardin County Peaking Facility, and rates became effective. In September 2022, Entergy Texas filed a relate-back rider designed to collect over three months an additional approximately $5.7 million, which is the revenue requirement, plus carrying costs, associated with Entergy Texas’s acquisition of Hardin County Peaking Facility from June 2021 through August 2022 when the updated revenue requirement took effect. In April 2023 the PUCT approved Entergy Texas’s as-filed request with rates effective over three months beginning in May 2023. COVID-19 Orders As discussed in the Form 10-K, in March 2020 the PUCT authorized electric utilities to record as a regulatory asset expenses resulting from the effects of the COVID-19 pandemic. Pursuant to the August 2023 PUCT approval of the unopposed settlement in Entergy Texas’s 2022 base rate case proceeding, the base rate increase of $54 million includes an annual revenue requirement of $3.4 million related to recovery of the regulatory asset for costs associated with the COVID-19 pandemic. Entergy Texas began recovery of the regulatory asset with the interim increase in the annual base rate effective in June 2023. Entergy Arkansas Opportunity Sales Proceeding See Note 2 to the financial statements in the Form 10-K for discussion of the Entergy Arkansas opportunity sales proceeding. As discussed in the Form 10-K, in January 2023, Arkansas Electric Energy Consumers, Inc., an industrial customer association, filed a notice of appeal of the U.S. District Court for the Eastern District of Arkansas’s order denying its motion to intervene to the United States Court of Appeals for the Eighth Circuit and a motion with the district court to stay the proceedings pending the appeal, which was denied. In February 2023, Arkansas Electric Energy Consumers, Inc. filed a motion with the United States Court of Appeals for the Eighth District to stay the proceedings pending the appeal, which also was denied. The trial was held in February 2023. Following the trial, Entergy Arkansas filed a motion with the United States Court of Appeals for the Eighth District to expedite the appeal filed by Arkansas Electric Energy Consumers, Inc. The United States Court of Appeals for the Eighth District granted Entergy Arkansas’s request, and oral arguments were held in June 2023. In August 2023 the United States Court of Appeals for the Eighth District denied Arkansas Electric Energy Consumers, Inc.’s motion to intervene. An order from the district court is pending. Complaints Against System Energy See Note 2 to the financial statements in the Form 10-K for information regarding pending complaints against System Energy. System Energy and the Unit Power Sales Agreement are currently the subject of several litigation proceedings at the FERC, including challenges with respect to System Energy’s authorized return on equity and capital structure, renewal of its sale-leaseback arrangement, treatment of uncertain tax positions, a broader investigation of rates under the Unit Power Sales Agreement, and two prudence complaints, one challenging the extended power uprate completed at Grand Gulf in 2012 and the operation and management of Grand Gulf, particularly in the 2016-2020 time period, and the second challenging the operation and management of Grand Gulf in the 2021-2022 time period. The claims in these proceedings include claims for refunds and claims for rate adjustments; the aggregate amount of refunds claimed in these proceedings substantially exceeds the net book value of System Energy. The settlement in principle with the APSC described in “ System Energy Settlement with the APSC ” below, if approved by the FERC, will substantially reduce the aggregate amount of this exposure. In the event of an adverse decision in one or more of these proceedings requiring the payment of substantial additional refunds, System Energy would be required to seek financing to pay such refunds which may not be available on terms acceptable to System Energy, or may not be available at all, when required. The following are updates to that discussion. Return on Equity and Capital Structure Complaints As discussed in the Form 10-K, in March 2021 the FERC ALJ issued an initial decision in the proceeding initiated by the LPSC, the MPSC, the APSC, and the City Council against System Energy regarding the return on equity component of the Unit Power Sales Agreement. With regard to System Energy’s authorized return on equity, the ALJ determined that the existing return on equity of 10.94% is no longer just and reasonable, and that the replacement authorized return on equity, based on application of the Opinion No. 569-A methodology, should be 9.32%. The ALJ further determined that System Energy should pay refunds for a fifteen-month refund period (January 2017-April 2018) based on the difference between the current return on equity and the replacement authorized return on |
Entergy Arkansas [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy As discussed in the Form 10-K, in a filing made with the FERC in March 2018, System Energy proposed revisions to the Unit Power Sales Agreement to reflect the effects of the Tax Cuts and Jobs Act. In July 2020 the presiding ALJ in the proceeding issued an initial decision finding that there is an additional $147 million in unprotected excess accumulated deferred income taxes related to System Energy’s uncertain decommissioning tax deduction. In December 2022 the FERC issued an order addressing the ALJ’s initial decision and denying System Energy’s motion to vacate the initial decision. The FERC disagreed with the ALJ’s determination that $147 million should be credited to customers in the same manner as the excess accumulated deferred income taxes addressed in System Energy’s March 2018 filing, which had included a stated amount of excess accumulated deferred income taxes to be returned pursuant to a specified methodology and had not included any excess accumulated deferred income taxes associated with the decommissioning tax position. Instead, the FERC ordered System Energy to compute the amount of excess accumulated deferred income taxes associated with the decommissioning tax position with consideration for the resolution of the tax position by the IRS. In February 2023, System Energy made the required filing with the FERC. In June 2023 the FERC issued a deficiency letter requesting additional information about the IRS’s resolution of the tax position for 2016 and 2017. In July 2023, System Energy provided the additional information. Fuel and purchased power cost recovery Entergy Arkansas See Note 1 to the financial statements herein for discussion of the write-off in third quarter 2023 of Entergy Arkansas’s $68.9 million regulatory asset for deferred fuel related to the ANO stator incident as a result of a commitment, made in October 2023, by Entergy Arkansas to the APSC to make a filing to forgo its opportunity to seek recovery of the incremental fuel and purchased energy expense resulting from the ANO stator incident. Energy Cost Recovery Rider As discussed in the Form 10-K, in March 2021, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which included an adjustment to account for a portion of the increased fuel costs resulting from the February 2021 winter storms. In February 2023 the APSC issued orders initiating proceedings with the utilities under its jurisdiction to address the prudence of costs incurred and appropriate cost allocation of the February 2021 winter storms. With respect to any prudence review of Entergy Arkansas fuel costs, as part of the APSC’s draft report issued in its February 2021 winter storms investigation docket, the APSC included findings that the load shedding plans of the investor-owned utilities and some cooperatives were appropriate and comprehensive, and, further, that Entergy Arkansas’s emergency plan was comprehensive and had a multilayered approach supported by a system-wide response plan, which is considered an industry standard. In September 2023 the APSC issued an order in Entergy Arkansas's company-specific proceeding and found that Entergy Arkansas’s practices during the winter storms were prudent. In March 2023, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase from $0.01639 per kWh to $0.01883 per kWh. The primary reason for the rate increase is a large under-recovered balance as a result of higher natural gas prices in 2022 and a $32 million deferral related to the February 2021 winter storms consistent with the APSC general staff’s request in 2022. The under-recovered balance included in the filing was partially offset by the proceeds of the $41.7 million refund that System Energy made to Entergy Arkansas in January 2023 related to the sale-leaseback renewal costs and depreciation litigation as calculated in System Energy’s January 2023 compliance report filed with the FERC. The redetermined rate of $0.01883 per kWh became effective with the first billing cycle in April 2023 through the normal operation of the tariff. Entergy Louisiana As discussed in the Form 10-K, in March 2021 the LPSC staff provided notice of an audit of Entergy Louisiana’s purchased gas adjustment clause filings covering the period January 2018 through December 2020. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s purchased gas adjustment clause for that period. In August 2023 the LPSC submitted its audit report and found that materially all costs recovered through the purchased gas adjustment filings were reasonable and eligible for recovery through the purchased gas adjustment clause. Entergy Mississippi In June 2023 the MPSC approved the joint stipulation agreement between Entergy Mississippi and the Mississippi Public Utilities Staff for Entergy Mississippi’s 2023 formula rate plan filing. The stipulation directed Entergy Mississippi to make a compliance filing to revise its power management cost adjustment factor, to revise its grid modernization cost adjustment factor, and to include a revision to reduce the net energy cost factor to a level necessary to reflect an average natural gas price of $4.50 per MMBtu. The MPSC approved the compliance filing in June 2023, effective for July 2023 bills. See “ Retail Rate Proceedings - Filings with the MPSC (Entergy Mississippi) - Retail Rates - 2023 Formula Rate Plan Filing” below for further discussion of the 2023 formula rate plan filing and the joint stipulation agreement. Entergy Texas As discussed in the Form 10-K, in September 2022, Entergy Texas filed an application with the PUCT to reconcile its fuel and purchased power costs for the period from April 2019 through March 2022. During the reconciliation period, Entergy Texas incurred approximately $1.7 billion in eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. As of the end of the reconciliation period, Entergy Texas’s cumulative under-recovery balance was approximately $103.1 million, including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2022, pending future surcharges or refunds as approved by the PUCT. In November 2022 the PUCT referred the proceeding to the State Office of Administrative Hearings. In March 2023 municipal intervenors filed testimony proposing a $5.2 million disallowance for fuel purchased during Winter Storm Uri. The PUCT staff proposed no disallowance. Entergy Texas filed rebuttal testimony in April 2023. In May 2023, Entergy Texas filed, and the ALJ with the State Office of Administrative Hearings granted, a joint motion to abate the proceeding to give parties additional time to finalize a settlement and cancelling the hearing on the merits previously scheduled for May 2023. In July 2023, Entergy Texas filed an unopposed settlement, supporting testimony, and an agreed motion to admit evidence and remand the proceeding to the PUCT. Pursuant to the unopposed settlement, Entergy Texas would receive no disallowance of fuel costs incurred over the three-year reconciliation period and retain $9.3 million in margins from off-system sales made during the reconciliation period, resulting in a cumulative under-recovery balance of approximately $99.7 million, including interest, as of the end of the reconciliation period. In July 2023 the ALJ with the State Office of Administrative Hearings granted the motion to admit evidence and remanded the proceeding to the PUCT for consideration of the unopposed settlement. The PUCT approved the settlement in September 2023. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2023 Formula Rate Plan Filing In July 2023, Entergy Arkansas filed with the APSC its 2023 formula rate plan filing to set its formula rate for the 2024 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2024 and a netting adjustment for the historical year 2022. The filing showed that Entergy Arkansas’s earned rate of return on common equity for the 2024 projected year is 8.11% resulting in a revenue deficiency of $80.5 million. The earned rate of return on common equity for the 2022 historical year was 7.29% resulting in a $49.8 million netting adjustment. The total proposed revenue change for the 2024 projected year and 2022 historical year netting adjustment is $130.3 million. By operation of the formula rate plan, Entergy Arkansas’s recovery of the revenue requirement is subject to a four percent annual revenue constraint. Because Entergy Arkansas’s revenue requirement in this filing exceeded the constraint, the resulting increase was limited to $88.6 million. The APSC general staff and intervenors filed their errors and objections in October 2023, proposing certain adjustments, including the APSC general staff’s update to annual filing year revenues which lowers the constraint to $87.7 million. Entergy Arkansas filed its rebuttal in October 2023. In October 2023, Entergy Arkansas filed with the APSC a settlement agreement reached with other parties resolving all issues in the proceeding, none of which affected Entergy Arkansas’s requested recovery up to the cap constraint of $87.7 million. The settlement agreement is pending the APSC’s approval. COVID-19 Orders See Note 2 to the financial statements in the Form 10-K for discussion of APSC orders issued in light of the COVID-19 pandemic. In its 2023 formula rate plan filing, Entergy Arkansas proposed to amortize the COVID-19 regulatory asset over a ten-year period. No party opposed Entergy Arkansas’s request. As of September 30, 2023, Entergy Arkansas had a regulatory asset of $39 million for costs associated with the COVID-19 pandemic. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2022 Formula Rate Plan Filing In May 2023, Entergy Louisiana filed its formula rate plan evaluation report for its 2022 calendar year operations. The 2022 test year evaluation report produced an earned return on common equity of 8.33%, requiring an approximately $70.7 million increase to base rider revenue. Due to a cap for the 2021 and 2022 test years, however, base rider formula rate plan revenues are only being increased by approximately $4.9 million, leaving an ongoing revenue deficiency of approximately $65.9 million and providing for prospective return on common equity opportunity of approximately 8.38%. Other changes in formula rate plan revenue driven by increases in capacity costs, primarily legacy capacity costs, additions eligible for recovery through the transmission recovery mechanism and distribution recovery mechanism, and higher sales during the test period are offset by reductions in net MISO costs as well as credits for FERC-ordered refunds. Also included in the 2022 test year distribution recovery mechanism revenue requirement is a $6 million credit relating to the distribution recovery mechanism performance accountability standards and requirements. In total, the net increase in formula rate plan revenues, including base formula rate plan revenues inside the formula rate plan bandwidth and subject to the cap, as well as other formula rate plan revenues outside of the bandwidth, is $85.2 million. In August 2023 the LPSC staff filed a list of objections/reservations, including outstanding issues from the test years 2017-2021 formula rate plan filings, the calculation of certain refunds from System Energy, and certain calculations relating to the tax reform adjustment mechanism. Subject to refund and LPSC review, the resulting net increase in formula rate plan revenues of $85.2 million became effective for bills rendered during the first billing cycle of September 2023. 2023 Entergy Louisiana Rate Case and Formula Rate Plan Extension Request In August 2023, Entergy Louisiana filed an application for approval of a regulatory blueprint necessary for it to strengthen the electric grid for the State of Louisiana, which contains a dual-path request to update rates through either: (1) extension of Entergy Louisiana’s current formula rate plan (with certain modifications) for three years (the Rate Mitigation Proposal), which is Entergy Louisiana’s recommended path; or (2) implementation of rates resulting from a cost-of-service study (the Rate Case path). The application complies with Entergy Louisiana’s previous formula rate plan extension order requiring that for Entergy Louisiana to obtain another extension of its formula rate plan that included a rate reset, Entergy Louisiana would need to submit a full cost-of-service/rate case. Entergy Louisiana’s filing supports the need to extend Entergy Louisiana’s formula rate plan with credit supportive mechanisms needed to facilitate investment in the distribution, transmission, and generation functions. The Rate Case path proposes a 2024-2026 test year formula rate plan with an initial revenue requirement increase, net of $17 million of one-time credits, of $430 million and a return on common equity of 10.5%. Depreciation rates would be updated for all asset classes. The Rate Mitigation Proposal proposes a 2023-2025 test year formula rate plan with an expected initial revenue requirement increase, also net of $17 million of one-time credits, of $173 million and a return on common equity of 10.0%. Depreciation rates would be updated only for nuclear assets and would be phased in over three years. Under both paths, Entergy Louisiana’s filing proposes removing the cap on amounts allowed to be recovered through the distribution recovery mechanism and continuing the distribution recovery mechanism performance accountability targets, which tie Entergy Louisiana’s ability to fully recover its distribution recovery mechanism investments to its reliability performance. Entergy Louisiana’s filing also includes new customer-centric programs specifically focused on affordability, such as reducing late fees and certain other fees assessed to customers, lowering additional facilities charge rates, providing eligible low-income seniors with monthly discounts on their electric bill, and adding new voluntary customer options to support new transportation electrification technologies. A status conference was held in October 2023 at which a procedural schedule was adopted that includes a hearing date of August 2024. 2017-2021 Formula Rate Plan Filings In October 2023, Entergy Louisiana and the LPSC staff jointly filed an uncontested stipulated settlement agreement for consideration by the LPSC that would resolve the evaluation of Entergy Louisiana’s formula rate plan for test years 2017, 2018, and 2019 and resolve certain disputed issues for test years 2020 and 2021. If approved by the LPSC, the settlement would result in a one-time cost of service credit to customers of $5.8 million, would allow Entergy Louisiana to retain approximately $6.2 million of excess securitization collection as recovery of a regulatory asset associated with late fees related to the 2016 Baton Rouge flood, and would result in the reversal of a regulatory liability for excess accumulated deferred income taxes recognized in 2017 as a result of the Tax Cuts and Jobs Act. See Note 3 to the financial statements in the Form 10-K for further discussion of the Tax Cuts and Jobs Act. It is anticipated that the settlement will be considered by the LPSC in November 2023. COVID-19 Orders As discussed in the Form 10-K, in April 2020 the LPSC issued an order authorizing utilities to record as a regulatory asset expenses incurred from the suspension of disconnections and collection of late fees imposed by LPSC orders associated with the COVID-19 pandemic. In April 2023, Entergy Louisiana filed an application proposing to utilize approximately $1.6 billion in certain low interest debt to generate earnings to apply toward the reduction of the COVID-19 regulatory asset, as well as to conduct additional outside right-of-way vegetation management activities and to apply to the minor storm reserve account. In that filing, Entergy Louisiana proposed to delay repayment of certain shorter-term first mortgage bonds that were issued to finance storm restoration costs until the costs could be securitized and to invest the funds that otherwise would be used to repay those bonds in the money pool to take advantage of the spread between prevailing interest rates on investments in the money pool and the interest rates on the bonds. The LPSC approved Entergy Louisiana’s requested relief in June 2023 and a subsequent filing will be required to permit the LPSC to review the COVID-19 regulatory asset. As of September 30, 2023, Entergy Louisiana had a regulatory asset of $47.8 million for costs associated with the COVID -19 pandemic. Filings with the MPSC (Entergy Mississippi) Retail Rates 2023 Formula Rate Plan Filing In March 2023, Entergy Mississippi submitted its formula rate plan 2023 test year filing and 2022 look-back filing showing Entergy Mississippi’s earned return on rate base for the historical 2022 calendar year to be below the formula rate plan bandwidth and projected earned return for the 2023 calendar year to be below the formula rate plan bandwidth. The 2023 test year filing shows a $39.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on rate base to the specified point of adjustment of 6.67%, within the formula rate plan bandwidth. The 2022 look-back filing compares actual 2022 results to the approved benchmark return on rate base and reflects the need for a $19.8 million temporary increase in formula rate plan revenues, including the refund of a $1.3 million over-recovery resulting from the demand-side management costs true-up for 2022. In fourth quarter 2022, Entergy Mississippi recorded a regulatory asset of $18.2 million in connection with the look-back feature of the formula rate plan to reflect that the 2022 estimated earned return was below the formula rate plan bandwidth. In accordance with the provisions of the formula rate plan, Entergy Mississippi implemented a $27.9 million interim rate increase, reflecting a cap equal to 2% of 2022 retail revenues, effective in April 2023. In May 2023, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed a 2023 test year filing resulting in a total revenue increase of $26.5 million for 2023. Pursuant to the joint stipulation, Entergy Mississippi’s 2022 look-back filing reflected an earned return on rate base of 6.10% in calendar year 2022, which is below the look-back bandwidth, resulting in a $19 million increase in the formula rate plan revenues on an interim basis through June 2024. Entergy Mississippi recorded a regulatory credit of $0.8 million in June 2023 to reflect the increase in the look-back regulatory asset. In addition, certain long-term service agreement and conductor handling costs were authorized for realignment from the formula rate plan to the annual power management and grid modernization riders effective January 2023, resulting in regulatory credits recorded in June 2023 of $4.1 million and $4.3 million, respectively. Also, the amortization of Entergy Mississippi’s COVID-19 bad debt deferral was suspended for calendar year 2023 and will resume in 2024. In June 2023 the MPSC approved the joint stipulation with rates effective in July 2023. Filings with the City Council (Entergy New Orleans) Retail Rates 2023 Formula Rate Plan Filing In April 2023, Entergy New Orleans submitted to the City Council its formula rate plan 2022 test year filing. The 2022 test year evaluation report produced an electric earned return on equity of 7.34% and a gas earned return on equity of 3.52% compared to the authorized return on equity for each of 9.35%. Entergy New Orleans sought approval of a $25.6 million rate increase based on the formula set by the City Council in the 2018 rate case. The formula would result in an increase in authorized electric revenues of $17.4 million and an increase in authorized gas revenues of $8.2 million. Entergy New Orleans also sought to commence collecting $3.4 million in electric revenues that were previously approved by the City Council for collection through the formula rate plan. In July 2023, Entergy New Orleans filed a report to decrease its requested formula rate plan revenues by approximately $0.5 million to account for minor errors discovered after the filing. The City Council advisors issued a report seeking a reduction in the requested formula rate plan revenues of approximately $8.3 million, combined for electric and gas, due to alleged errors. The City Council advisors proposed additional rate mitigation in the amount of $12 million through offsets to the formula rate plan rate increase by certain regulatory liabilities. In September 2023 the City Council approved an agreement to settle the 2023 formula rate plan filing. Effective with the first billing cycle of September 2023, Entergy New Orleans implemented rates reflecting an amount agreed upon by Entergy New Orleans and the City Council, per the approved process for formula rate plan implementation. The agreement provides for a total increase in electric revenues of $10.5 million and a total increase in gas revenues of $6.9 million. The agreement also provides for a minor storm accrual of $0.5 million per year and the distribution of $8.9 million of currently held customer credits to implement the City Council advisors’ mitigation recommendations. Request for Extension and Modification of Formula Rate Plan In September 2023, Entergy New Orleans filed a motion seeking City Council approval of a three-year extension of Entergy New Orleans’s electric and gas formula rate plans. In October 2023 the City Council granted Entergy New Orleans’s request for an extension, subject to minor modifications which included a capital structure not to exceed 55% equity. Filings with the PUCT and Texas Cities (Entergy Texas) Retail Rates 2022 Base Rate Case As discussed in the Form 10-K, in July 2022, Entergy Texas filed a base rate case with the PUCT seeking a net increase in base rates of approximately $131.4 million. The base rate case was based on a 12-month test year ending December 31, 2021. Key drivers of the requested increase were changes in depreciation rates as the result of a depreciation study and an increase in the return on equity. In addition, Entergy Texas included capital additions placed into service for the period of January 1, 2018 through December 31, 2021, including those additions reflected in the then-effective distribution and transmission cost recovery factor riders and the generation cost recovery rider, all of which have been reset to zero as a result of this proceeding. In May 2023, Entergy Texas filed on behalf of the parties an unopposed settlement resolving all issues in the proceeding, except for issues related to electric vehicle charging infrastructure, and Entergy Texas filed an agreed motion for interim rates, subject to refund or surcharge to the extent that the interim rates differ from the final approved rates. The unopposed settlement reflected a net base rate increase to be effective and relate back to December 2022 of $54 million, exclusive of, and incremental to, the costs being realigned from the distribution and transmission cost recovery factor riders and the generation cost recovery rider and $4.8 million of rate case expenses to be recovered through a rider over a period of 36 months. The net base rate increase of $54 million includes updated depreciation rates and a total annual revenue requirement of $14.5 million for the accrual of a self-insured storm reserve and the recovery of the regulatory assets for the pension and postretirement benefits expense deferral, costs associated with the COVID-19 pandemic, and retired non-advanced metering system electric meters. In May 2023 the ALJ with the State Office of Administrative Hearings granted the motion for interim rates, which became effective in June 2023. Additionally, the ALJ remanded the proceeding, except for the issues related to electric vehicle charging infrastructure, to the PUCT to consider the settlement. In June 2023 the ALJ issued a proposal for decision related to the electric vehicle charging infrastructure issues and which noted recent legislation enacted which permits electric utilities to own and operate such infrastructure. The ALJ’s proposal for decision deferred to the PUCT regarding whether it is appropriate for any vertically integrated electric utility, or Entergy Texas specifically, to own electric vehicle charging infrastructure, and in the event that the PUCT decided ownership is permissible, the ALJ recommended approval of the proposed tariff to charge host customers for utility-owned and operated electric vehicle charging infrastructure sited on customer premises and denial of the proposed tariff to temporarily adjust billing demand charges for separately metered electric vehicle charging infrastructure, citing cost-shifting concerns. In July 2023 the parties filed exceptions and replies to exceptions to the proposal for decision. In August 2023 the PUCT issued an order approving the unopposed settlement and also issued an order severing the issues related to electric vehicle charging infrastructure addressed in the ALJ’s proposal for decision to a separate proceeding. Concurrently, Entergy Texas recorded the reversal of $21.9 million of regulatory liabilities to reflect the recognition of certain receipts by Entergy Texas under affiliated PPAs that have been resolved. Following the PUCT’s approval of the unopposed settlement in August 2023, Entergy Texas recorded a regulatory liability of $8.9 million, which reflects the net effects of higher depreciation and amortizations for the relate back period, partially offset by the relate back of base rate revenues that would have been collected had the approved rates been in effect for the period from December 2022 through June 2023, the date the new base rates were implemented on an interim basis. In October 2023, Entergy Texas filed a relate back surcharge rider to collect over six months beginning in January 2024 an additional approximately $24.6 million, which is the revenue requirement associated with the relate back of rates from December 2022 through June 2023, including carrying costs, as authorized by the PUCT’s August 2023 order. A final decision by the PUCT is expected by first quarter 2024. Generation Cost Recovery Rider As discussed in the Form 10-K, in August 2022 the PUCT approved a unanimous settlement agreement adjusting Entergy Texas’s generation cost recovery rider to recover an annual revenue requirement of approximately $92.8 million related to Entergy Texas’s actual investment in the acquisition of the Hardin County Peaking Facility, and rates became effective. In September 2022, Entergy Texas filed a relate-back rider designed to collect over three months an additional approximately $5.7 million, which is the revenue requirement, plus carrying costs, associated with Entergy Texas’s acquisition of Hardin County Peaking Facility from June 2021 through August 2022 when the updated revenue requirement took effect. In April 2023 the PUCT approved Entergy Texas’s as-filed request with rates effective over three months beginning in May 2023. COVID-19 Orders As discussed in the Form 10-K, in March 2020 the PUCT authorized electric utilities to record as a regulatory asset expenses resulting from the effects of the COVID-19 pandemic. Pursuant to the August 2023 PUCT approval of the unopposed settlement in Entergy Texas’s 2022 base rate case proceeding, the base rate increase of $54 million includes an annual revenue requirement of $3.4 million related to recovery of the regulatory asset for costs associated with the COVID-19 pandemic. Entergy Texas began recovery of the regulatory asset with the interim increase in the annual base rate effective in June 2023. Entergy Arkansas Opportunity Sales Proceeding See Note 2 to the financial statements in the Form 10-K for discussion of the Entergy Arkansas opportunity sales proceeding. As discussed in the Form 10-K, in January 2023, Arkansas Electric Energy Consumers, Inc., an industrial customer association, filed a notice of appeal of the U.S. District Court for the Eastern District of Arkansas’s order denying its motion to intervene to the United States Court of Appeals for the Eighth Circuit and a motion with the district court to stay the proceedings pending the appeal, which was denied. In February 2023, Arkansas Electric Energy Consumers, Inc. filed a motion with the United States Court of Appeals for the Eighth District to stay the proceedings pending the appeal, which also was denied. The trial was held in February 2023. Following the trial, Entergy Arkansas filed a motion with the United States Court of Appeals for the Eighth District to expedite the appeal filed by Arkansas Electric Energy Consumers, Inc. The United States Court of Appeals for the Eighth District granted Entergy Arkansas’s request, and oral arguments were held in June 2023. In August 2023 the United States Court of Appeals for the Eighth District denied Arkansas Electric Energy Consumers, Inc.’s motion to intervene. An order from the district court is pending. Complaints Against System Energy See Note 2 to the financial statements in the Form 10-K for information regarding pending complaints against System Energy. System Energy and the Unit Power Sales Agreement are currently the subject of several litigation proceedings at the FERC, including challenges with respect to System Energy’s authorized return on equity and capital structure, renewal of its sale-leaseback arrangement, treatment of uncertain tax positions, a broader investigation of rates under the Unit Power Sales Agreement, and two prudence complaints, one challenging the extended power uprate completed at Grand Gulf in 2012 and the operation and management of Grand Gulf, particularly in the 2016-2020 time period, and the second challenging the operation and management of Grand Gulf in the 2021-2022 time period. The claims in these proceedings include claims for refunds and claims for rate adjustments; the aggregate amount of refunds claimed in these proceedings substantially exceeds the net book value of System Energy. The settlement in principle with the APSC described in “ System Energy Settlement with the APSC ” below, if approved by the FERC, will substantially reduce the aggregate amount of this exposure. In the event of an adverse decision in one or more of these proceedings requiring the payment of substantial additional refunds, System Energy would be required to seek financing to pay such refunds which may not be available on terms acceptable to System Energy, or may not be available at all, when required. The following are updates to that discussion. Return on Equity and Capital Structure Complaints As discussed in the Form 10-K, in March 2021 the FERC ALJ issued an initial decision in the proceeding initiated by the LPSC, the MPSC, the APSC, and the City Council against System Energy regarding the return on equity component of the Unit Power Sales Agreement. With regard to System Energy’s authorized return on equity, the ALJ determined that the existing return on equity of 10.94% is no longer just and reasonable, and that the replacement authorized return on equity, based on application of the Opinion No. 569-A methodology, should be 9.32%. The ALJ further determined that System Energy should pay refunds for a fifteen-month refund period (January 2017-April 2018) based on the difference between the current return on equity and the replacement authorized return on |
Entergy Louisiana [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy As discussed in the Form 10-K, in a filing made with the FERC in March 2018, System Energy proposed revisions to the Unit Power Sales Agreement to reflect the effects of the Tax Cuts and Jobs Act. In July 2020 the presiding ALJ in the proceeding issued an initial decision finding that there is an additional $147 million in unprotected excess accumulated deferred income taxes related to System Energy’s uncertain decommissioning tax deduction. In December 2022 the FERC issued an order addressing the ALJ’s initial decision and denying System Energy’s motion to vacate the initial decision. The FERC disagreed with the ALJ’s determination that $147 million should be credited to customers in the same manner as the excess accumulated deferred income taxes addressed in System Energy’s March 2018 filing, which had included a stated amount of excess accumulated deferred income taxes to be returned pursuant to a specified methodology and had not included any excess accumulated deferred income taxes associated with the decommissioning tax position. Instead, the FERC ordered System Energy to compute the amount of excess accumulated deferred income taxes associated with the decommissioning tax position with consideration for the resolution of the tax position by the IRS. In February 2023, System Energy made the required filing with the FERC. In June 2023 the FERC issued a deficiency letter requesting additional information about the IRS’s resolution of the tax position for 2016 and 2017. In July 2023, System Energy provided the additional information. Fuel and purchased power cost recovery Entergy Arkansas See Note 1 to the financial statements herein for discussion of the write-off in third quarter 2023 of Entergy Arkansas’s $68.9 million regulatory asset for deferred fuel related to the ANO stator incident as a result of a commitment, made in October 2023, by Entergy Arkansas to the APSC to make a filing to forgo its opportunity to seek recovery of the incremental fuel and purchased energy expense resulting from the ANO stator incident. Energy Cost Recovery Rider As discussed in the Form 10-K, in March 2021, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which included an adjustment to account for a portion of the increased fuel costs resulting from the February 2021 winter storms. In February 2023 the APSC issued orders initiating proceedings with the utilities under its jurisdiction to address the prudence of costs incurred and appropriate cost allocation of the February 2021 winter storms. With respect to any prudence review of Entergy Arkansas fuel costs, as part of the APSC’s draft report issued in its February 2021 winter storms investigation docket, the APSC included findings that the load shedding plans of the investor-owned utilities and some cooperatives were appropriate and comprehensive, and, further, that Entergy Arkansas’s emergency plan was comprehensive and had a multilayered approach supported by a system-wide response plan, which is considered an industry standard. In September 2023 the APSC issued an order in Entergy Arkansas's company-specific proceeding and found that Entergy Arkansas’s practices during the winter storms were prudent. In March 2023, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase from $0.01639 per kWh to $0.01883 per kWh. The primary reason for the rate increase is a large under-recovered balance as a result of higher natural gas prices in 2022 and a $32 million deferral related to the February 2021 winter storms consistent with the APSC general staff’s request in 2022. The under-recovered balance included in the filing was partially offset by the proceeds of the $41.7 million refund that System Energy made to Entergy Arkansas in January 2023 related to the sale-leaseback renewal costs and depreciation litigation as calculated in System Energy’s January 2023 compliance report filed with the FERC. The redetermined rate of $0.01883 per kWh became effective with the first billing cycle in April 2023 through the normal operation of the tariff. Entergy Louisiana As discussed in the Form 10-K, in March 2021 the LPSC staff provided notice of an audit of Entergy Louisiana’s purchased gas adjustment clause filings covering the period January 2018 through December 2020. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s purchased gas adjustment clause for that period. In August 2023 the LPSC submitted its audit report and found that materially all costs recovered through the purchased gas adjustment filings were reasonable and eligible for recovery through the purchased gas adjustment clause. Entergy Mississippi In June 2023 the MPSC approved the joint stipulation agreement between Entergy Mississippi and the Mississippi Public Utilities Staff for Entergy Mississippi’s 2023 formula rate plan filing. The stipulation directed Entergy Mississippi to make a compliance filing to revise its power management cost adjustment factor, to revise its grid modernization cost adjustment factor, and to include a revision to reduce the net energy cost factor to a level necessary to reflect an average natural gas price of $4.50 per MMBtu. The MPSC approved the compliance filing in June 2023, effective for July 2023 bills. See “ Retail Rate Proceedings - Filings with the MPSC (Entergy Mississippi) - Retail Rates - 2023 Formula Rate Plan Filing” below for further discussion of the 2023 formula rate plan filing and the joint stipulation agreement. Entergy Texas As discussed in the Form 10-K, in September 2022, Entergy Texas filed an application with the PUCT to reconcile its fuel and purchased power costs for the period from April 2019 through March 2022. During the reconciliation period, Entergy Texas incurred approximately $1.7 billion in eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. As of the end of the reconciliation period, Entergy Texas’s cumulative under-recovery balance was approximately $103.1 million, including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2022, pending future surcharges or refunds as approved by the PUCT. In November 2022 the PUCT referred the proceeding to the State Office of Administrative Hearings. In March 2023 municipal intervenors filed testimony proposing a $5.2 million disallowance for fuel purchased during Winter Storm Uri. The PUCT staff proposed no disallowance. Entergy Texas filed rebuttal testimony in April 2023. In May 2023, Entergy Texas filed, and the ALJ with the State Office of Administrative Hearings granted, a joint motion to abate the proceeding to give parties additional time to finalize a settlement and cancelling the hearing on the merits previously scheduled for May 2023. In July 2023, Entergy Texas filed an unopposed settlement, supporting testimony, and an agreed motion to admit evidence and remand the proceeding to the PUCT. Pursuant to the unopposed settlement, Entergy Texas would receive no disallowance of fuel costs incurred over the three-year reconciliation period and retain $9.3 million in margins from off-system sales made during the reconciliation period, resulting in a cumulative under-recovery balance of approximately $99.7 million, including interest, as of the end of the reconciliation period. In July 2023 the ALJ with the State Office of Administrative Hearings granted the motion to admit evidence and remanded the proceeding to the PUCT for consideration of the unopposed settlement. The PUCT approved the settlement in September 2023. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2023 Formula Rate Plan Filing In July 2023, Entergy Arkansas filed with the APSC its 2023 formula rate plan filing to set its formula rate for the 2024 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2024 and a netting adjustment for the historical year 2022. The filing showed that Entergy Arkansas’s earned rate of return on common equity for the 2024 projected year is 8.11% resulting in a revenue deficiency of $80.5 million. The earned rate of return on common equity for the 2022 historical year was 7.29% resulting in a $49.8 million netting adjustment. The total proposed revenue change for the 2024 projected year and 2022 historical year netting adjustment is $130.3 million. By operation of the formula rate plan, Entergy Arkansas’s recovery of the revenue requirement is subject to a four percent annual revenue constraint. Because Entergy Arkansas’s revenue requirement in this filing exceeded the constraint, the resulting increase was limited to $88.6 million. The APSC general staff and intervenors filed their errors and objections in October 2023, proposing certain adjustments, including the APSC general staff’s update to annual filing year revenues which lowers the constraint to $87.7 million. Entergy Arkansas filed its rebuttal in October 2023. In October 2023, Entergy Arkansas filed with the APSC a settlement agreement reached with other parties resolving all issues in the proceeding, none of which affected Entergy Arkansas’s requested recovery up to the cap constraint of $87.7 million. The settlement agreement is pending the APSC’s approval. COVID-19 Orders See Note 2 to the financial statements in the Form 10-K for discussion of APSC orders issued in light of the COVID-19 pandemic. In its 2023 formula rate plan filing, Entergy Arkansas proposed to amortize the COVID-19 regulatory asset over a ten-year period. No party opposed Entergy Arkansas’s request. As of September 30, 2023, Entergy Arkansas had a regulatory asset of $39 million for costs associated with the COVID-19 pandemic. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2022 Formula Rate Plan Filing In May 2023, Entergy Louisiana filed its formula rate plan evaluation report for its 2022 calendar year operations. The 2022 test year evaluation report produced an earned return on common equity of 8.33%, requiring an approximately $70.7 million increase to base rider revenue. Due to a cap for the 2021 and 2022 test years, however, base rider formula rate plan revenues are only being increased by approximately $4.9 million, leaving an ongoing revenue deficiency of approximately $65.9 million and providing for prospective return on common equity opportunity of approximately 8.38%. Other changes in formula rate plan revenue driven by increases in capacity costs, primarily legacy capacity costs, additions eligible for recovery through the transmission recovery mechanism and distribution recovery mechanism, and higher sales during the test period are offset by reductions in net MISO costs as well as credits for FERC-ordered refunds. Also included in the 2022 test year distribution recovery mechanism revenue requirement is a $6 million credit relating to the distribution recovery mechanism performance accountability standards and requirements. In total, the net increase in formula rate plan revenues, including base formula rate plan revenues inside the formula rate plan bandwidth and subject to the cap, as well as other formula rate plan revenues outside of the bandwidth, is $85.2 million. In August 2023 the LPSC staff filed a list of objections/reservations, including outstanding issues from the test years 2017-2021 formula rate plan filings, the calculation of certain refunds from System Energy, and certain calculations relating to the tax reform adjustment mechanism. Subject to refund and LPSC review, the resulting net increase in formula rate plan revenues of $85.2 million became effective for bills rendered during the first billing cycle of September 2023. 2023 Entergy Louisiana Rate Case and Formula Rate Plan Extension Request In August 2023, Entergy Louisiana filed an application for approval of a regulatory blueprint necessary for it to strengthen the electric grid for the State of Louisiana, which contains a dual-path request to update rates through either: (1) extension of Entergy Louisiana’s current formula rate plan (with certain modifications) for three years (the Rate Mitigation Proposal), which is Entergy Louisiana’s recommended path; or (2) implementation of rates resulting from a cost-of-service study (the Rate Case path). The application complies with Entergy Louisiana’s previous formula rate plan extension order requiring that for Entergy Louisiana to obtain another extension of its formula rate plan that included a rate reset, Entergy Louisiana would need to submit a full cost-of-service/rate case. Entergy Louisiana’s filing supports the need to extend Entergy Louisiana’s formula rate plan with credit supportive mechanisms needed to facilitate investment in the distribution, transmission, and generation functions. The Rate Case path proposes a 2024-2026 test year formula rate plan with an initial revenue requirement increase, net of $17 million of one-time credits, of $430 million and a return on common equity of 10.5%. Depreciation rates would be updated for all asset classes. The Rate Mitigation Proposal proposes a 2023-2025 test year formula rate plan with an expected initial revenue requirement increase, also net of $17 million of one-time credits, of $173 million and a return on common equity of 10.0%. Depreciation rates would be updated only for nuclear assets and would be phased in over three years. Under both paths, Entergy Louisiana’s filing proposes removing the cap on amounts allowed to be recovered through the distribution recovery mechanism and continuing the distribution recovery mechanism performance accountability targets, which tie Entergy Louisiana’s ability to fully recover its distribution recovery mechanism investments to its reliability performance. Entergy Louisiana’s filing also includes new customer-centric programs specifically focused on affordability, such as reducing late fees and certain other fees assessed to customers, lowering additional facilities charge rates, providing eligible low-income seniors with monthly discounts on their electric bill, and adding new voluntary customer options to support new transportation electrification technologies. A status conference was held in October 2023 at which a procedural schedule was adopted that includes a hearing date of August 2024. 2017-2021 Formula Rate Plan Filings In October 2023, Entergy Louisiana and the LPSC staff jointly filed an uncontested stipulated settlement agreement for consideration by the LPSC that would resolve the evaluation of Entergy Louisiana’s formula rate plan for test years 2017, 2018, and 2019 and resolve certain disputed issues for test years 2020 and 2021. If approved by the LPSC, the settlement would result in a one-time cost of service credit to customers of $5.8 million, would allow Entergy Louisiana to retain approximately $6.2 million of excess securitization collection as recovery of a regulatory asset associated with late fees related to the 2016 Baton Rouge flood, and would result in the reversal of a regulatory liability for excess accumulated deferred income taxes recognized in 2017 as a result of the Tax Cuts and Jobs Act. See Note 3 to the financial statements in the Form 10-K for further discussion of the Tax Cuts and Jobs Act. It is anticipated that the settlement will be considered by the LPSC in November 2023. COVID-19 Orders As discussed in the Form 10-K, in April 2020 the LPSC issued an order authorizing utilities to record as a regulatory asset expenses incurred from the suspension of disconnections and collection of late fees imposed by LPSC orders associated with the COVID-19 pandemic. In April 2023, Entergy Louisiana filed an application proposing to utilize approximately $1.6 billion in certain low interest debt to generate earnings to apply toward the reduction of the COVID-19 regulatory asset, as well as to conduct additional outside right-of-way vegetation management activities and to apply to the minor storm reserve account. In that filing, Entergy Louisiana proposed to delay repayment of certain shorter-term first mortgage bonds that were issued to finance storm restoration costs until the costs could be securitized and to invest the funds that otherwise would be used to repay those bonds in the money pool to take advantage of the spread between prevailing interest rates on investments in the money pool and the interest rates on the bonds. The LPSC approved Entergy Louisiana’s requested relief in June 2023 and a subsequent filing will be required to permit the LPSC to review the COVID-19 regulatory asset. As of September 30, 2023, Entergy Louisiana had a regulatory asset of $47.8 million for costs associated with the COVID -19 pandemic. Filings with the MPSC (Entergy Mississippi) Retail Rates 2023 Formula Rate Plan Filing In March 2023, Entergy Mississippi submitted its formula rate plan 2023 test year filing and 2022 look-back filing showing Entergy Mississippi’s earned return on rate base for the historical 2022 calendar year to be below the formula rate plan bandwidth and projected earned return for the 2023 calendar year to be below the formula rate plan bandwidth. The 2023 test year filing shows a $39.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on rate base to the specified point of adjustment of 6.67%, within the formula rate plan bandwidth. The 2022 look-back filing compares actual 2022 results to the approved benchmark return on rate base and reflects the need for a $19.8 million temporary increase in formula rate plan revenues, including the refund of a $1.3 million over-recovery resulting from the demand-side management costs true-up for 2022. In fourth quarter 2022, Entergy Mississippi recorded a regulatory asset of $18.2 million in connection with the look-back feature of the formula rate plan to reflect that the 2022 estimated earned return was below the formula rate plan bandwidth. In accordance with the provisions of the formula rate plan, Entergy Mississippi implemented a $27.9 million interim rate increase, reflecting a cap equal to 2% of 2022 retail revenues, effective in April 2023. In May 2023, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed a 2023 test year filing resulting in a total revenue increase of $26.5 million for 2023. Pursuant to the joint stipulation, Entergy Mississippi’s 2022 look-back filing reflected an earned return on rate base of 6.10% in calendar year 2022, which is below the look-back bandwidth, resulting in a $19 million increase in the formula rate plan revenues on an interim basis through June 2024. Entergy Mississippi recorded a regulatory credit of $0.8 million in June 2023 to reflect the increase in the look-back regulatory asset. In addition, certain long-term service agreement and conductor handling costs were authorized for realignment from the formula rate plan to the annual power management and grid modernization riders effective January 2023, resulting in regulatory credits recorded in June 2023 of $4.1 million and $4.3 million, respectively. Also, the amortization of Entergy Mississippi’s COVID-19 bad debt deferral was suspended for calendar year 2023 and will resume in 2024. In June 2023 the MPSC approved the joint stipulation with rates effective in July 2023. Filings with the City Council (Entergy New Orleans) Retail Rates 2023 Formula Rate Plan Filing In April 2023, Entergy New Orleans submitted to the City Council its formula rate plan 2022 test year filing. The 2022 test year evaluation report produced an electric earned return on equity of 7.34% and a gas earned return on equity of 3.52% compared to the authorized return on equity for each of 9.35%. Entergy New Orleans sought approval of a $25.6 million rate increase based on the formula set by the City Council in the 2018 rate case. The formula would result in an increase in authorized electric revenues of $17.4 million and an increase in authorized gas revenues of $8.2 million. Entergy New Orleans also sought to commence collecting $3.4 million in electric revenues that were previously approved by the City Council for collection through the formula rate plan. In July 2023, Entergy New Orleans filed a report to decrease its requested formula rate plan revenues by approximately $0.5 million to account for minor errors discovered after the filing. The City Council advisors issued a report seeking a reduction in the requested formula rate plan revenues of approximately $8.3 million, combined for electric and gas, due to alleged errors. The City Council advisors proposed additional rate mitigation in the amount of $12 million through offsets to the formula rate plan rate increase by certain regulatory liabilities. In September 2023 the City Council approved an agreement to settle the 2023 formula rate plan filing. Effective with the first billing cycle of September 2023, Entergy New Orleans implemented rates reflecting an amount agreed upon by Entergy New Orleans and the City Council, per the approved process for formula rate plan implementation. The agreement provides for a total increase in electric revenues of $10.5 million and a total increase in gas revenues of $6.9 million. The agreement also provides for a minor storm accrual of $0.5 million per year and the distribution of $8.9 million of currently held customer credits to implement the City Council advisors’ mitigation recommendations. Request for Extension and Modification of Formula Rate Plan In September 2023, Entergy New Orleans filed a motion seeking City Council approval of a three-year extension of Entergy New Orleans’s electric and gas formula rate plans. In October 2023 the City Council granted Entergy New Orleans’s request for an extension, subject to minor modifications which included a capital structure not to exceed 55% equity. Filings with the PUCT and Texas Cities (Entergy Texas) Retail Rates 2022 Base Rate Case As discussed in the Form 10-K, in July 2022, Entergy Texas filed a base rate case with the PUCT seeking a net increase in base rates of approximately $131.4 million. The base rate case was based on a 12-month test year ending December 31, 2021. Key drivers of the requested increase were changes in depreciation rates as the result of a depreciation study and an increase in the return on equity. In addition, Entergy Texas included capital additions placed into service for the period of January 1, 2018 through December 31, 2021, including those additions reflected in the then-effective distribution and transmission cost recovery factor riders and the generation cost recovery rider, all of which have been reset to zero as a result of this proceeding. In May 2023, Entergy Texas filed on behalf of the parties an unopposed settlement resolving all issues in the proceeding, except for issues related to electric vehicle charging infrastructure, and Entergy Texas filed an agreed motion for interim rates, subject to refund or surcharge to the extent that the interim rates differ from the final approved rates. The unopposed settlement reflected a net base rate increase to be effective and relate back to December 2022 of $54 million, exclusive of, and incremental to, the costs being realigned from the distribution and transmission cost recovery factor riders and the generation cost recovery rider and $4.8 million of rate case expenses to be recovered through a rider over a period of 36 months. The net base rate increase of $54 million includes updated depreciation rates and a total annual revenue requirement of $14.5 million for the accrual of a self-insured storm reserve and the recovery of the regulatory assets for the pension and postretirement benefits expense deferral, costs associated with the COVID-19 pandemic, and retired non-advanced metering system electric meters. In May 2023 the ALJ with the State Office of Administrative Hearings granted the motion for interim rates, which became effective in June 2023. Additionally, the ALJ remanded the proceeding, except for the issues related to electric vehicle charging infrastructure, to the PUCT to consider the settlement. In June 2023 the ALJ issued a proposal for decision related to the electric vehicle charging infrastructure issues and which noted recent legislation enacted which permits electric utilities to own and operate such infrastructure. The ALJ’s proposal for decision deferred to the PUCT regarding whether it is appropriate for any vertically integrated electric utility, or Entergy Texas specifically, to own electric vehicle charging infrastructure, and in the event that the PUCT decided ownership is permissible, the ALJ recommended approval of the proposed tariff to charge host customers for utility-owned and operated electric vehicle charging infrastructure sited on customer premises and denial of the proposed tariff to temporarily adjust billing demand charges for separately metered electric vehicle charging infrastructure, citing cost-shifting concerns. In July 2023 the parties filed exceptions and replies to exceptions to the proposal for decision. In August 2023 the PUCT issued an order approving the unopposed settlement and also issued an order severing the issues related to electric vehicle charging infrastructure addressed in the ALJ’s proposal for decision to a separate proceeding. Concurrently, Entergy Texas recorded the reversal of $21.9 million of regulatory liabilities to reflect the recognition of certain receipts by Entergy Texas under affiliated PPAs that have been resolved. Following the PUCT’s approval of the unopposed settlement in August 2023, Entergy Texas recorded a regulatory liability of $8.9 million, which reflects the net effects of higher depreciation and amortizations for the relate back period, partially offset by the relate back of base rate revenues that would have been collected had the approved rates been in effect for the period from December 2022 through June 2023, the date the new base rates were implemented on an interim basis. In October 2023, Entergy Texas filed a relate back surcharge rider to collect over six months beginning in January 2024 an additional approximately $24.6 million, which is the revenue requirement associated with the relate back of rates from December 2022 through June 2023, including carrying costs, as authorized by the PUCT’s August 2023 order. A final decision by the PUCT is expected by first quarter 2024. Generation Cost Recovery Rider As discussed in the Form 10-K, in August 2022 the PUCT approved a unanimous settlement agreement adjusting Entergy Texas’s generation cost recovery rider to recover an annual revenue requirement of approximately $92.8 million related to Entergy Texas’s actual investment in the acquisition of the Hardin County Peaking Facility, and rates became effective. In September 2022, Entergy Texas filed a relate-back rider designed to collect over three months an additional approximately $5.7 million, which is the revenue requirement, plus carrying costs, associated with Entergy Texas’s acquisition of Hardin County Peaking Facility from June 2021 through August 2022 when the updated revenue requirement took effect. In April 2023 the PUCT approved Entergy Texas’s as-filed request with rates effective over three months beginning in May 2023. COVID-19 Orders As discussed in the Form 10-K, in March 2020 the PUCT authorized electric utilities to record as a regulatory asset expenses resulting from the effects of the COVID-19 pandemic. Pursuant to the August 2023 PUCT approval of the unopposed settlement in Entergy Texas’s 2022 base rate case proceeding, the base rate increase of $54 million includes an annual revenue requirement of $3.4 million related to recovery of the regulatory asset for costs associated with the COVID-19 pandemic. Entergy Texas began recovery of the regulatory asset with the interim increase in the annual base rate effective in June 2023. Entergy Arkansas Opportunity Sales Proceeding See Note 2 to the financial statements in the Form 10-K for discussion of the Entergy Arkansas opportunity sales proceeding. As discussed in the Form 10-K, in January 2023, Arkansas Electric Energy Consumers, Inc., an industrial customer association, filed a notice of appeal of the U.S. District Court for the Eastern District of Arkansas’s order denying its motion to intervene to the United States Court of Appeals for the Eighth Circuit and a motion with the district court to stay the proceedings pending the appeal, which was denied. In February 2023, Arkansas Electric Energy Consumers, Inc. filed a motion with the United States Court of Appeals for the Eighth District to stay the proceedings pending the appeal, which also was denied. The trial was held in February 2023. Following the trial, Entergy Arkansas filed a motion with the United States Court of Appeals for the Eighth District to expedite the appeal filed by Arkansas Electric Energy Consumers, Inc. The United States Court of Appeals for the Eighth District granted Entergy Arkansas’s request, and oral arguments were held in June 2023. In August 2023 the United States Court of Appeals for the Eighth District denied Arkansas Electric Energy Consumers, Inc.’s motion to intervene. An order from the district court is pending. Complaints Against System Energy See Note 2 to the financial statements in the Form 10-K for information regarding pending complaints against System Energy. System Energy and the Unit Power Sales Agreement are currently the subject of several litigation proceedings at the FERC, including challenges with respect to System Energy’s authorized return on equity and capital structure, renewal of its sale-leaseback arrangement, treatment of uncertain tax positions, a broader investigation of rates under the Unit Power Sales Agreement, and two prudence complaints, one challenging the extended power uprate completed at Grand Gulf in 2012 and the operation and management of Grand Gulf, particularly in the 2016-2020 time period, and the second challenging the operation and management of Grand Gulf in the 2021-2022 time period. The claims in these proceedings include claims for refunds and claims for rate adjustments; the aggregate amount of refunds claimed in these proceedings substantially exceeds the net book value of System Energy. The settlement in principle with the APSC described in “ System Energy Settlement with the APSC ” below, if approved by the FERC, will substantially reduce the aggregate amount of this exposure. In the event of an adverse decision in one or more of these proceedings requiring the payment of substantial additional refunds, System Energy would be required to seek financing to pay such refunds which may not be available on terms acceptable to System Energy, or may not be available at all, when required. The following are updates to that discussion. Return on Equity and Capital Structure Complaints As discussed in the Form 10-K, in March 2021 the FERC ALJ issued an initial decision in the proceeding initiated by the LPSC, the MPSC, the APSC, and the City Council against System Energy regarding the return on equity component of the Unit Power Sales Agreement. With regard to System Energy’s authorized return on equity, the ALJ determined that the existing return on equity of 10.94% is no longer just and reasonable, and that the replacement authorized return on equity, based on application of the Opinion No. 569-A methodology, should be 9.32%. The ALJ further determined that System Energy should pay refunds for a fifteen-month refund period (January 2017-April 2018) based on the difference between the current return on equity and the replacement authorized return on |
Entergy Mississippi [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy As discussed in the Form 10-K, in a filing made with the FERC in March 2018, System Energy proposed revisions to the Unit Power Sales Agreement to reflect the effects of the Tax Cuts and Jobs Act. In July 2020 the presiding ALJ in the proceeding issued an initial decision finding that there is an additional $147 million in unprotected excess accumulated deferred income taxes related to System Energy’s uncertain decommissioning tax deduction. In December 2022 the FERC issued an order addressing the ALJ’s initial decision and denying System Energy’s motion to vacate the initial decision. The FERC disagreed with the ALJ’s determination that $147 million should be credited to customers in the same manner as the excess accumulated deferred income taxes addressed in System Energy’s March 2018 filing, which had included a stated amount of excess accumulated deferred income taxes to be returned pursuant to a specified methodology and had not included any excess accumulated deferred income taxes associated with the decommissioning tax position. Instead, the FERC ordered System Energy to compute the amount of excess accumulated deferred income taxes associated with the decommissioning tax position with consideration for the resolution of the tax position by the IRS. In February 2023, System Energy made the required filing with the FERC. In June 2023 the FERC issued a deficiency letter requesting additional information about the IRS’s resolution of the tax position for 2016 and 2017. In July 2023, System Energy provided the additional information. Fuel and purchased power cost recovery Entergy Arkansas See Note 1 to the financial statements herein for discussion of the write-off in third quarter 2023 of Entergy Arkansas’s $68.9 million regulatory asset for deferred fuel related to the ANO stator incident as a result of a commitment, made in October 2023, by Entergy Arkansas to the APSC to make a filing to forgo its opportunity to seek recovery of the incremental fuel and purchased energy expense resulting from the ANO stator incident. Energy Cost Recovery Rider As discussed in the Form 10-K, in March 2021, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which included an adjustment to account for a portion of the increased fuel costs resulting from the February 2021 winter storms. In February 2023 the APSC issued orders initiating proceedings with the utilities under its jurisdiction to address the prudence of costs incurred and appropriate cost allocation of the February 2021 winter storms. With respect to any prudence review of Entergy Arkansas fuel costs, as part of the APSC’s draft report issued in its February 2021 winter storms investigation docket, the APSC included findings that the load shedding plans of the investor-owned utilities and some cooperatives were appropriate and comprehensive, and, further, that Entergy Arkansas’s emergency plan was comprehensive and had a multilayered approach supported by a system-wide response plan, which is considered an industry standard. In September 2023 the APSC issued an order in Entergy Arkansas's company-specific proceeding and found that Entergy Arkansas’s practices during the winter storms were prudent. In March 2023, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase from $0.01639 per kWh to $0.01883 per kWh. The primary reason for the rate increase is a large under-recovered balance as a result of higher natural gas prices in 2022 and a $32 million deferral related to the February 2021 winter storms consistent with the APSC general staff’s request in 2022. The under-recovered balance included in the filing was partially offset by the proceeds of the $41.7 million refund that System Energy made to Entergy Arkansas in January 2023 related to the sale-leaseback renewal costs and depreciation litigation as calculated in System Energy’s January 2023 compliance report filed with the FERC. The redetermined rate of $0.01883 per kWh became effective with the first billing cycle in April 2023 through the normal operation of the tariff. Entergy Louisiana As discussed in the Form 10-K, in March 2021 the LPSC staff provided notice of an audit of Entergy Louisiana’s purchased gas adjustment clause filings covering the period January 2018 through December 2020. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s purchased gas adjustment clause for that period. In August 2023 the LPSC submitted its audit report and found that materially all costs recovered through the purchased gas adjustment filings were reasonable and eligible for recovery through the purchased gas adjustment clause. Entergy Mississippi In June 2023 the MPSC approved the joint stipulation agreement between Entergy Mississippi and the Mississippi Public Utilities Staff for Entergy Mississippi’s 2023 formula rate plan filing. The stipulation directed Entergy Mississippi to make a compliance filing to revise its power management cost adjustment factor, to revise its grid modernization cost adjustment factor, and to include a revision to reduce the net energy cost factor to a level necessary to reflect an average natural gas price of $4.50 per MMBtu. The MPSC approved the compliance filing in June 2023, effective for July 2023 bills. See “ Retail Rate Proceedings - Filings with the MPSC (Entergy Mississippi) - Retail Rates - 2023 Formula Rate Plan Filing” below for further discussion of the 2023 formula rate plan filing and the joint stipulation agreement. Entergy Texas As discussed in the Form 10-K, in September 2022, Entergy Texas filed an application with the PUCT to reconcile its fuel and purchased power costs for the period from April 2019 through March 2022. During the reconciliation period, Entergy Texas incurred approximately $1.7 billion in eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. As of the end of the reconciliation period, Entergy Texas’s cumulative under-recovery balance was approximately $103.1 million, including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2022, pending future surcharges or refunds as approved by the PUCT. In November 2022 the PUCT referred the proceeding to the State Office of Administrative Hearings. In March 2023 municipal intervenors filed testimony proposing a $5.2 million disallowance for fuel purchased during Winter Storm Uri. The PUCT staff proposed no disallowance. Entergy Texas filed rebuttal testimony in April 2023. In May 2023, Entergy Texas filed, and the ALJ with the State Office of Administrative Hearings granted, a joint motion to abate the proceeding to give parties additional time to finalize a settlement and cancelling the hearing on the merits previously scheduled for May 2023. In July 2023, Entergy Texas filed an unopposed settlement, supporting testimony, and an agreed motion to admit evidence and remand the proceeding to the PUCT. Pursuant to the unopposed settlement, Entergy Texas would receive no disallowance of fuel costs incurred over the three-year reconciliation period and retain $9.3 million in margins from off-system sales made during the reconciliation period, resulting in a cumulative under-recovery balance of approximately $99.7 million, including interest, as of the end of the reconciliation period. In July 2023 the ALJ with the State Office of Administrative Hearings granted the motion to admit evidence and remanded the proceeding to the PUCT for consideration of the unopposed settlement. The PUCT approved the settlement in September 2023. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2023 Formula Rate Plan Filing In July 2023, Entergy Arkansas filed with the APSC its 2023 formula rate plan filing to set its formula rate for the 2024 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2024 and a netting adjustment for the historical year 2022. The filing showed that Entergy Arkansas’s earned rate of return on common equity for the 2024 projected year is 8.11% resulting in a revenue deficiency of $80.5 million. The earned rate of return on common equity for the 2022 historical year was 7.29% resulting in a $49.8 million netting adjustment. The total proposed revenue change for the 2024 projected year and 2022 historical year netting adjustment is $130.3 million. By operation of the formula rate plan, Entergy Arkansas’s recovery of the revenue requirement is subject to a four percent annual revenue constraint. Because Entergy Arkansas’s revenue requirement in this filing exceeded the constraint, the resulting increase was limited to $88.6 million. The APSC general staff and intervenors filed their errors and objections in October 2023, proposing certain adjustments, including the APSC general staff’s update to annual filing year revenues which lowers the constraint to $87.7 million. Entergy Arkansas filed its rebuttal in October 2023. In October 2023, Entergy Arkansas filed with the APSC a settlement agreement reached with other parties resolving all issues in the proceeding, none of which affected Entergy Arkansas’s requested recovery up to the cap constraint of $87.7 million. The settlement agreement is pending the APSC’s approval. COVID-19 Orders See Note 2 to the financial statements in the Form 10-K for discussion of APSC orders issued in light of the COVID-19 pandemic. In its 2023 formula rate plan filing, Entergy Arkansas proposed to amortize the COVID-19 regulatory asset over a ten-year period. No party opposed Entergy Arkansas’s request. As of September 30, 2023, Entergy Arkansas had a regulatory asset of $39 million for costs associated with the COVID-19 pandemic. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2022 Formula Rate Plan Filing In May 2023, Entergy Louisiana filed its formula rate plan evaluation report for its 2022 calendar year operations. The 2022 test year evaluation report produced an earned return on common equity of 8.33%, requiring an approximately $70.7 million increase to base rider revenue. Due to a cap for the 2021 and 2022 test years, however, base rider formula rate plan revenues are only being increased by approximately $4.9 million, leaving an ongoing revenue deficiency of approximately $65.9 million and providing for prospective return on common equity opportunity of approximately 8.38%. Other changes in formula rate plan revenue driven by increases in capacity costs, primarily legacy capacity costs, additions eligible for recovery through the transmission recovery mechanism and distribution recovery mechanism, and higher sales during the test period are offset by reductions in net MISO costs as well as credits for FERC-ordered refunds. Also included in the 2022 test year distribution recovery mechanism revenue requirement is a $6 million credit relating to the distribution recovery mechanism performance accountability standards and requirements. In total, the net increase in formula rate plan revenues, including base formula rate plan revenues inside the formula rate plan bandwidth and subject to the cap, as well as other formula rate plan revenues outside of the bandwidth, is $85.2 million. In August 2023 the LPSC staff filed a list of objections/reservations, including outstanding issues from the test years 2017-2021 formula rate plan filings, the calculation of certain refunds from System Energy, and certain calculations relating to the tax reform adjustment mechanism. Subject to refund and LPSC review, the resulting net increase in formula rate plan revenues of $85.2 million became effective for bills rendered during the first billing cycle of September 2023. 2023 Entergy Louisiana Rate Case and Formula Rate Plan Extension Request In August 2023, Entergy Louisiana filed an application for approval of a regulatory blueprint necessary for it to strengthen the electric grid for the State of Louisiana, which contains a dual-path request to update rates through either: (1) extension of Entergy Louisiana’s current formula rate plan (with certain modifications) for three years (the Rate Mitigation Proposal), which is Entergy Louisiana’s recommended path; or (2) implementation of rates resulting from a cost-of-service study (the Rate Case path). The application complies with Entergy Louisiana’s previous formula rate plan extension order requiring that for Entergy Louisiana to obtain another extension of its formula rate plan that included a rate reset, Entergy Louisiana would need to submit a full cost-of-service/rate case. Entergy Louisiana’s filing supports the need to extend Entergy Louisiana’s formula rate plan with credit supportive mechanisms needed to facilitate investment in the distribution, transmission, and generation functions. The Rate Case path proposes a 2024-2026 test year formula rate plan with an initial revenue requirement increase, net of $17 million of one-time credits, of $430 million and a return on common equity of 10.5%. Depreciation rates would be updated for all asset classes. The Rate Mitigation Proposal proposes a 2023-2025 test year formula rate plan with an expected initial revenue requirement increase, also net of $17 million of one-time credits, of $173 million and a return on common equity of 10.0%. Depreciation rates would be updated only for nuclear assets and would be phased in over three years. Under both paths, Entergy Louisiana’s filing proposes removing the cap on amounts allowed to be recovered through the distribution recovery mechanism and continuing the distribution recovery mechanism performance accountability targets, which tie Entergy Louisiana’s ability to fully recover its distribution recovery mechanism investments to its reliability performance. Entergy Louisiana’s filing also includes new customer-centric programs specifically focused on affordability, such as reducing late fees and certain other fees assessed to customers, lowering additional facilities charge rates, providing eligible low-income seniors with monthly discounts on their electric bill, and adding new voluntary customer options to support new transportation electrification technologies. A status conference was held in October 2023 at which a procedural schedule was adopted that includes a hearing date of August 2024. 2017-2021 Formula Rate Plan Filings In October 2023, Entergy Louisiana and the LPSC staff jointly filed an uncontested stipulated settlement agreement for consideration by the LPSC that would resolve the evaluation of Entergy Louisiana’s formula rate plan for test years 2017, 2018, and 2019 and resolve certain disputed issues for test years 2020 and 2021. If approved by the LPSC, the settlement would result in a one-time cost of service credit to customers of $5.8 million, would allow Entergy Louisiana to retain approximately $6.2 million of excess securitization collection as recovery of a regulatory asset associated with late fees related to the 2016 Baton Rouge flood, and would result in the reversal of a regulatory liability for excess accumulated deferred income taxes recognized in 2017 as a result of the Tax Cuts and Jobs Act. See Note 3 to the financial statements in the Form 10-K for further discussion of the Tax Cuts and Jobs Act. It is anticipated that the settlement will be considered by the LPSC in November 2023. COVID-19 Orders As discussed in the Form 10-K, in April 2020 the LPSC issued an order authorizing utilities to record as a regulatory asset expenses incurred from the suspension of disconnections and collection of late fees imposed by LPSC orders associated with the COVID-19 pandemic. In April 2023, Entergy Louisiana filed an application proposing to utilize approximately $1.6 billion in certain low interest debt to generate earnings to apply toward the reduction of the COVID-19 regulatory asset, as well as to conduct additional outside right-of-way vegetation management activities and to apply to the minor storm reserve account. In that filing, Entergy Louisiana proposed to delay repayment of certain shorter-term first mortgage bonds that were issued to finance storm restoration costs until the costs could be securitized and to invest the funds that otherwise would be used to repay those bonds in the money pool to take advantage of the spread between prevailing interest rates on investments in the money pool and the interest rates on the bonds. The LPSC approved Entergy Louisiana’s requested relief in June 2023 and a subsequent filing will be required to permit the LPSC to review the COVID-19 regulatory asset. As of September 30, 2023, Entergy Louisiana had a regulatory asset of $47.8 million for costs associated with the COVID -19 pandemic. Filings with the MPSC (Entergy Mississippi) Retail Rates 2023 Formula Rate Plan Filing In March 2023, Entergy Mississippi submitted its formula rate plan 2023 test year filing and 2022 look-back filing showing Entergy Mississippi’s earned return on rate base for the historical 2022 calendar year to be below the formula rate plan bandwidth and projected earned return for the 2023 calendar year to be below the formula rate plan bandwidth. The 2023 test year filing shows a $39.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on rate base to the specified point of adjustment of 6.67%, within the formula rate plan bandwidth. The 2022 look-back filing compares actual 2022 results to the approved benchmark return on rate base and reflects the need for a $19.8 million temporary increase in formula rate plan revenues, including the refund of a $1.3 million over-recovery resulting from the demand-side management costs true-up for 2022. In fourth quarter 2022, Entergy Mississippi recorded a regulatory asset of $18.2 million in connection with the look-back feature of the formula rate plan to reflect that the 2022 estimated earned return was below the formula rate plan bandwidth. In accordance with the provisions of the formula rate plan, Entergy Mississippi implemented a $27.9 million interim rate increase, reflecting a cap equal to 2% of 2022 retail revenues, effective in April 2023. In May 2023, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed a 2023 test year filing resulting in a total revenue increase of $26.5 million for 2023. Pursuant to the joint stipulation, Entergy Mississippi’s 2022 look-back filing reflected an earned return on rate base of 6.10% in calendar year 2022, which is below the look-back bandwidth, resulting in a $19 million increase in the formula rate plan revenues on an interim basis through June 2024. Entergy Mississippi recorded a regulatory credit of $0.8 million in June 2023 to reflect the increase in the look-back regulatory asset. In addition, certain long-term service agreement and conductor handling costs were authorized for realignment from the formula rate plan to the annual power management and grid modernization riders effective January 2023, resulting in regulatory credits recorded in June 2023 of $4.1 million and $4.3 million, respectively. Also, the amortization of Entergy Mississippi’s COVID-19 bad debt deferral was suspended for calendar year 2023 and will resume in 2024. In June 2023 the MPSC approved the joint stipulation with rates effective in July 2023. Filings with the City Council (Entergy New Orleans) Retail Rates 2023 Formula Rate Plan Filing In April 2023, Entergy New Orleans submitted to the City Council its formula rate plan 2022 test year filing. The 2022 test year evaluation report produced an electric earned return on equity of 7.34% and a gas earned return on equity of 3.52% compared to the authorized return on equity for each of 9.35%. Entergy New Orleans sought approval of a $25.6 million rate increase based on the formula set by the City Council in the 2018 rate case. The formula would result in an increase in authorized electric revenues of $17.4 million and an increase in authorized gas revenues of $8.2 million. Entergy New Orleans also sought to commence collecting $3.4 million in electric revenues that were previously approved by the City Council for collection through the formula rate plan. In July 2023, Entergy New Orleans filed a report to decrease its requested formula rate plan revenues by approximately $0.5 million to account for minor errors discovered after the filing. The City Council advisors issued a report seeking a reduction in the requested formula rate plan revenues of approximately $8.3 million, combined for electric and gas, due to alleged errors. The City Council advisors proposed additional rate mitigation in the amount of $12 million through offsets to the formula rate plan rate increase by certain regulatory liabilities. In September 2023 the City Council approved an agreement to settle the 2023 formula rate plan filing. Effective with the first billing cycle of September 2023, Entergy New Orleans implemented rates reflecting an amount agreed upon by Entergy New Orleans and the City Council, per the approved process for formula rate plan implementation. The agreement provides for a total increase in electric revenues of $10.5 million and a total increase in gas revenues of $6.9 million. The agreement also provides for a minor storm accrual of $0.5 million per year and the distribution of $8.9 million of currently held customer credits to implement the City Council advisors’ mitigation recommendations. Request for Extension and Modification of Formula Rate Plan In September 2023, Entergy New Orleans filed a motion seeking City Council approval of a three-year extension of Entergy New Orleans’s electric and gas formula rate plans. In October 2023 the City Council granted Entergy New Orleans’s request for an extension, subject to minor modifications which included a capital structure not to exceed 55% equity. Filings with the PUCT and Texas Cities (Entergy Texas) Retail Rates 2022 Base Rate Case As discussed in the Form 10-K, in July 2022, Entergy Texas filed a base rate case with the PUCT seeking a net increase in base rates of approximately $131.4 million. The base rate case was based on a 12-month test year ending December 31, 2021. Key drivers of the requested increase were changes in depreciation rates as the result of a depreciation study and an increase in the return on equity. In addition, Entergy Texas included capital additions placed into service for the period of January 1, 2018 through December 31, 2021, including those additions reflected in the then-effective distribution and transmission cost recovery factor riders and the generation cost recovery rider, all of which have been reset to zero as a result of this proceeding. In May 2023, Entergy Texas filed on behalf of the parties an unopposed settlement resolving all issues in the proceeding, except for issues related to electric vehicle charging infrastructure, and Entergy Texas filed an agreed motion for interim rates, subject to refund or surcharge to the extent that the interim rates differ from the final approved rates. The unopposed settlement reflected a net base rate increase to be effective and relate back to December 2022 of $54 million, exclusive of, and incremental to, the costs being realigned from the distribution and transmission cost recovery factor riders and the generation cost recovery rider and $4.8 million of rate case expenses to be recovered through a rider over a period of 36 months. The net base rate increase of $54 million includes updated depreciation rates and a total annual revenue requirement of $14.5 million for the accrual of a self-insured storm reserve and the recovery of the regulatory assets for the pension and postretirement benefits expense deferral, costs associated with the COVID-19 pandemic, and retired non-advanced metering system electric meters. In May 2023 the ALJ with the State Office of Administrative Hearings granted the motion for interim rates, which became effective in June 2023. Additionally, the ALJ remanded the proceeding, except for the issues related to electric vehicle charging infrastructure, to the PUCT to consider the settlement. In June 2023 the ALJ issued a proposal for decision related to the electric vehicle charging infrastructure issues and which noted recent legislation enacted which permits electric utilities to own and operate such infrastructure. The ALJ’s proposal for decision deferred to the PUCT regarding whether it is appropriate for any vertically integrated electric utility, or Entergy Texas specifically, to own electric vehicle charging infrastructure, and in the event that the PUCT decided ownership is permissible, the ALJ recommended approval of the proposed tariff to charge host customers for utility-owned and operated electric vehicle charging infrastructure sited on customer premises and denial of the proposed tariff to temporarily adjust billing demand charges for separately metered electric vehicle charging infrastructure, citing cost-shifting concerns. In July 2023 the parties filed exceptions and replies to exceptions to the proposal for decision. In August 2023 the PUCT issued an order approving the unopposed settlement and also issued an order severing the issues related to electric vehicle charging infrastructure addressed in the ALJ’s proposal for decision to a separate proceeding. Concurrently, Entergy Texas recorded the reversal of $21.9 million of regulatory liabilities to reflect the recognition of certain receipts by Entergy Texas under affiliated PPAs that have been resolved. Following the PUCT’s approval of the unopposed settlement in August 2023, Entergy Texas recorded a regulatory liability of $8.9 million, which reflects the net effects of higher depreciation and amortizations for the relate back period, partially offset by the relate back of base rate revenues that would have been collected had the approved rates been in effect for the period from December 2022 through June 2023, the date the new base rates were implemented on an interim basis. In October 2023, Entergy Texas filed a relate back surcharge rider to collect over six months beginning in January 2024 an additional approximately $24.6 million, which is the revenue requirement associated with the relate back of rates from December 2022 through June 2023, including carrying costs, as authorized by the PUCT’s August 2023 order. A final decision by the PUCT is expected by first quarter 2024. Generation Cost Recovery Rider As discussed in the Form 10-K, in August 2022 the PUCT approved a unanimous settlement agreement adjusting Entergy Texas’s generation cost recovery rider to recover an annual revenue requirement of approximately $92.8 million related to Entergy Texas’s actual investment in the acquisition of the Hardin County Peaking Facility, and rates became effective. In September 2022, Entergy Texas filed a relate-back rider designed to collect over three months an additional approximately $5.7 million, which is the revenue requirement, plus carrying costs, associated with Entergy Texas’s acquisition of Hardin County Peaking Facility from June 2021 through August 2022 when the updated revenue requirement took effect. In April 2023 the PUCT approved Entergy Texas’s as-filed request with rates effective over three months beginning in May 2023. COVID-19 Orders As discussed in the Form 10-K, in March 2020 the PUCT authorized electric utilities to record as a regulatory asset expenses resulting from the effects of the COVID-19 pandemic. Pursuant to the August 2023 PUCT approval of the unopposed settlement in Entergy Texas’s 2022 base rate case proceeding, the base rate increase of $54 million includes an annual revenue requirement of $3.4 million related to recovery of the regulatory asset for costs associated with the COVID-19 pandemic. Entergy Texas began recovery of the regulatory asset with the interim increase in the annual base rate effective in June 2023. Entergy Arkansas Opportunity Sales Proceeding See Note 2 to the financial statements in the Form 10-K for discussion of the Entergy Arkansas opportunity sales proceeding. As discussed in the Form 10-K, in January 2023, Arkansas Electric Energy Consumers, Inc., an industrial customer association, filed a notice of appeal of the U.S. District Court for the Eastern District of Arkansas’s order denying its motion to intervene to the United States Court of Appeals for the Eighth Circuit and a motion with the district court to stay the proceedings pending the appeal, which was denied. In February 2023, Arkansas Electric Energy Consumers, Inc. filed a motion with the United States Court of Appeals for the Eighth District to stay the proceedings pending the appeal, which also was denied. The trial was held in February 2023. Following the trial, Entergy Arkansas filed a motion with the United States Court of Appeals for the Eighth District to expedite the appeal filed by Arkansas Electric Energy Consumers, Inc. The United States Court of Appeals for the Eighth District granted Entergy Arkansas’s request, and oral arguments were held in June 2023. In August 2023 the United States Court of Appeals for the Eighth District denied Arkansas Electric Energy Consumers, Inc.’s motion to intervene. An order from the district court is pending. Complaints Against System Energy See Note 2 to the financial statements in the Form 10-K for information regarding pending complaints against System Energy. System Energy and the Unit Power Sales Agreement are currently the subject of several litigation proceedings at the FERC, including challenges with respect to System Energy’s authorized return on equity and capital structure, renewal of its sale-leaseback arrangement, treatment of uncertain tax positions, a broader investigation of rates under the Unit Power Sales Agreement, and two prudence complaints, one challenging the extended power uprate completed at Grand Gulf in 2012 and the operation and management of Grand Gulf, particularly in the 2016-2020 time period, and the second challenging the operation and management of Grand Gulf in the 2021-2022 time period. The claims in these proceedings include claims for refunds and claims for rate adjustments; the aggregate amount of refunds claimed in these proceedings substantially exceeds the net book value of System Energy. The settlement in principle with the APSC described in “ System Energy Settlement with the APSC ” below, if approved by the FERC, will substantially reduce the aggregate amount of this exposure. In the event of an adverse decision in one or more of these proceedings requiring the payment of substantial additional refunds, System Energy would be required to seek financing to pay such refunds which may not be available on terms acceptable to System Energy, or may not be available at all, when required. The following are updates to that discussion. Return on Equity and Capital Structure Complaints As discussed in the Form 10-K, in March 2021 the FERC ALJ issued an initial decision in the proceeding initiated by the LPSC, the MPSC, the APSC, and the City Council against System Energy regarding the return on equity component of the Unit Power Sales Agreement. With regard to System Energy’s authorized return on equity, the ALJ determined that the existing return on equity of 10.94% is no longer just and reasonable, and that the replacement authorized return on equity, based on application of the Opinion No. 569-A methodology, should be 9.32%. The ALJ further determined that System Energy should pay refunds for a fifteen-month refund period (January 2017-April 2018) based on the difference between the current return on equity and the replacement authorized return on |
Entergy New Orleans [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy As discussed in the Form 10-K, in a filing made with the FERC in March 2018, System Energy proposed revisions to the Unit Power Sales Agreement to reflect the effects of the Tax Cuts and Jobs Act. In July 2020 the presiding ALJ in the proceeding issued an initial decision finding that there is an additional $147 million in unprotected excess accumulated deferred income taxes related to System Energy’s uncertain decommissioning tax deduction. In December 2022 the FERC issued an order addressing the ALJ’s initial decision and denying System Energy’s motion to vacate the initial decision. The FERC disagreed with the ALJ’s determination that $147 million should be credited to customers in the same manner as the excess accumulated deferred income taxes addressed in System Energy’s March 2018 filing, which had included a stated amount of excess accumulated deferred income taxes to be returned pursuant to a specified methodology and had not included any excess accumulated deferred income taxes associated with the decommissioning tax position. Instead, the FERC ordered System Energy to compute the amount of excess accumulated deferred income taxes associated with the decommissioning tax position with consideration for the resolution of the tax position by the IRS. In February 2023, System Energy made the required filing with the FERC. In June 2023 the FERC issued a deficiency letter requesting additional information about the IRS’s resolution of the tax position for 2016 and 2017. In July 2023, System Energy provided the additional information. Fuel and purchased power cost recovery Entergy Arkansas See Note 1 to the financial statements herein for discussion of the write-off in third quarter 2023 of Entergy Arkansas’s $68.9 million regulatory asset for deferred fuel related to the ANO stator incident as a result of a commitment, made in October 2023, by Entergy Arkansas to the APSC to make a filing to forgo its opportunity to seek recovery of the incremental fuel and purchased energy expense resulting from the ANO stator incident. Energy Cost Recovery Rider As discussed in the Form 10-K, in March 2021, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which included an adjustment to account for a portion of the increased fuel costs resulting from the February 2021 winter storms. In February 2023 the APSC issued orders initiating proceedings with the utilities under its jurisdiction to address the prudence of costs incurred and appropriate cost allocation of the February 2021 winter storms. With respect to any prudence review of Entergy Arkansas fuel costs, as part of the APSC’s draft report issued in its February 2021 winter storms investigation docket, the APSC included findings that the load shedding plans of the investor-owned utilities and some cooperatives were appropriate and comprehensive, and, further, that Entergy Arkansas’s emergency plan was comprehensive and had a multilayered approach supported by a system-wide response plan, which is considered an industry standard. In September 2023 the APSC issued an order in Entergy Arkansas's company-specific proceeding and found that Entergy Arkansas’s practices during the winter storms were prudent. In March 2023, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase from $0.01639 per kWh to $0.01883 per kWh. The primary reason for the rate increase is a large under-recovered balance as a result of higher natural gas prices in 2022 and a $32 million deferral related to the February 2021 winter storms consistent with the APSC general staff’s request in 2022. The under-recovered balance included in the filing was partially offset by the proceeds of the $41.7 million refund that System Energy made to Entergy Arkansas in January 2023 related to the sale-leaseback renewal costs and depreciation litigation as calculated in System Energy’s January 2023 compliance report filed with the FERC. The redetermined rate of $0.01883 per kWh became effective with the first billing cycle in April 2023 through the normal operation of the tariff. Entergy Louisiana As discussed in the Form 10-K, in March 2021 the LPSC staff provided notice of an audit of Entergy Louisiana’s purchased gas adjustment clause filings covering the period January 2018 through December 2020. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s purchased gas adjustment clause for that period. In August 2023 the LPSC submitted its audit report and found that materially all costs recovered through the purchased gas adjustment filings were reasonable and eligible for recovery through the purchased gas adjustment clause. Entergy Mississippi In June 2023 the MPSC approved the joint stipulation agreement between Entergy Mississippi and the Mississippi Public Utilities Staff for Entergy Mississippi’s 2023 formula rate plan filing. The stipulation directed Entergy Mississippi to make a compliance filing to revise its power management cost adjustment factor, to revise its grid modernization cost adjustment factor, and to include a revision to reduce the net energy cost factor to a level necessary to reflect an average natural gas price of $4.50 per MMBtu. The MPSC approved the compliance filing in June 2023, effective for July 2023 bills. See “ Retail Rate Proceedings - Filings with the MPSC (Entergy Mississippi) - Retail Rates - 2023 Formula Rate Plan Filing” below for further discussion of the 2023 formula rate plan filing and the joint stipulation agreement. Entergy Texas As discussed in the Form 10-K, in September 2022, Entergy Texas filed an application with the PUCT to reconcile its fuel and purchased power costs for the period from April 2019 through March 2022. During the reconciliation period, Entergy Texas incurred approximately $1.7 billion in eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. As of the end of the reconciliation period, Entergy Texas’s cumulative under-recovery balance was approximately $103.1 million, including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2022, pending future surcharges or refunds as approved by the PUCT. In November 2022 the PUCT referred the proceeding to the State Office of Administrative Hearings. In March 2023 municipal intervenors filed testimony proposing a $5.2 million disallowance for fuel purchased during Winter Storm Uri. The PUCT staff proposed no disallowance. Entergy Texas filed rebuttal testimony in April 2023. In May 2023, Entergy Texas filed, and the ALJ with the State Office of Administrative Hearings granted, a joint motion to abate the proceeding to give parties additional time to finalize a settlement and cancelling the hearing on the merits previously scheduled for May 2023. In July 2023, Entergy Texas filed an unopposed settlement, supporting testimony, and an agreed motion to admit evidence and remand the proceeding to the PUCT. Pursuant to the unopposed settlement, Entergy Texas would receive no disallowance of fuel costs incurred over the three-year reconciliation period and retain $9.3 million in margins from off-system sales made during the reconciliation period, resulting in a cumulative under-recovery balance of approximately $99.7 million, including interest, as of the end of the reconciliation period. In July 2023 the ALJ with the State Office of Administrative Hearings granted the motion to admit evidence and remanded the proceeding to the PUCT for consideration of the unopposed settlement. The PUCT approved the settlement in September 2023. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2023 Formula Rate Plan Filing In July 2023, Entergy Arkansas filed with the APSC its 2023 formula rate plan filing to set its formula rate for the 2024 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2024 and a netting adjustment for the historical year 2022. The filing showed that Entergy Arkansas’s earned rate of return on common equity for the 2024 projected year is 8.11% resulting in a revenue deficiency of $80.5 million. The earned rate of return on common equity for the 2022 historical year was 7.29% resulting in a $49.8 million netting adjustment. The total proposed revenue change for the 2024 projected year and 2022 historical year netting adjustment is $130.3 million. By operation of the formula rate plan, Entergy Arkansas’s recovery of the revenue requirement is subject to a four percent annual revenue constraint. Because Entergy Arkansas’s revenue requirement in this filing exceeded the constraint, the resulting increase was limited to $88.6 million. The APSC general staff and intervenors filed their errors and objections in October 2023, proposing certain adjustments, including the APSC general staff’s update to annual filing year revenues which lowers the constraint to $87.7 million. Entergy Arkansas filed its rebuttal in October 2023. In October 2023, Entergy Arkansas filed with the APSC a settlement agreement reached with other parties resolving all issues in the proceeding, none of which affected Entergy Arkansas’s requested recovery up to the cap constraint of $87.7 million. The settlement agreement is pending the APSC’s approval. COVID-19 Orders See Note 2 to the financial statements in the Form 10-K for discussion of APSC orders issued in light of the COVID-19 pandemic. In its 2023 formula rate plan filing, Entergy Arkansas proposed to amortize the COVID-19 regulatory asset over a ten-year period. No party opposed Entergy Arkansas’s request. As of September 30, 2023, Entergy Arkansas had a regulatory asset of $39 million for costs associated with the COVID-19 pandemic. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2022 Formula Rate Plan Filing In May 2023, Entergy Louisiana filed its formula rate plan evaluation report for its 2022 calendar year operations. The 2022 test year evaluation report produced an earned return on common equity of 8.33%, requiring an approximately $70.7 million increase to base rider revenue. Due to a cap for the 2021 and 2022 test years, however, base rider formula rate plan revenues are only being increased by approximately $4.9 million, leaving an ongoing revenue deficiency of approximately $65.9 million and providing for prospective return on common equity opportunity of approximately 8.38%. Other changes in formula rate plan revenue driven by increases in capacity costs, primarily legacy capacity costs, additions eligible for recovery through the transmission recovery mechanism and distribution recovery mechanism, and higher sales during the test period are offset by reductions in net MISO costs as well as credits for FERC-ordered refunds. Also included in the 2022 test year distribution recovery mechanism revenue requirement is a $6 million credit relating to the distribution recovery mechanism performance accountability standards and requirements. In total, the net increase in formula rate plan revenues, including base formula rate plan revenues inside the formula rate plan bandwidth and subject to the cap, as well as other formula rate plan revenues outside of the bandwidth, is $85.2 million. In August 2023 the LPSC staff filed a list of objections/reservations, including outstanding issues from the test years 2017-2021 formula rate plan filings, the calculation of certain refunds from System Energy, and certain calculations relating to the tax reform adjustment mechanism. Subject to refund and LPSC review, the resulting net increase in formula rate plan revenues of $85.2 million became effective for bills rendered during the first billing cycle of September 2023. 2023 Entergy Louisiana Rate Case and Formula Rate Plan Extension Request In August 2023, Entergy Louisiana filed an application for approval of a regulatory blueprint necessary for it to strengthen the electric grid for the State of Louisiana, which contains a dual-path request to update rates through either: (1) extension of Entergy Louisiana’s current formula rate plan (with certain modifications) for three years (the Rate Mitigation Proposal), which is Entergy Louisiana’s recommended path; or (2) implementation of rates resulting from a cost-of-service study (the Rate Case path). The application complies with Entergy Louisiana’s previous formula rate plan extension order requiring that for Entergy Louisiana to obtain another extension of its formula rate plan that included a rate reset, Entergy Louisiana would need to submit a full cost-of-service/rate case. Entergy Louisiana’s filing supports the need to extend Entergy Louisiana’s formula rate plan with credit supportive mechanisms needed to facilitate investment in the distribution, transmission, and generation functions. The Rate Case path proposes a 2024-2026 test year formula rate plan with an initial revenue requirement increase, net of $17 million of one-time credits, of $430 million and a return on common equity of 10.5%. Depreciation rates would be updated for all asset classes. The Rate Mitigation Proposal proposes a 2023-2025 test year formula rate plan with an expected initial revenue requirement increase, also net of $17 million of one-time credits, of $173 million and a return on common equity of 10.0%. Depreciation rates would be updated only for nuclear assets and would be phased in over three years. Under both paths, Entergy Louisiana’s filing proposes removing the cap on amounts allowed to be recovered through the distribution recovery mechanism and continuing the distribution recovery mechanism performance accountability targets, which tie Entergy Louisiana’s ability to fully recover its distribution recovery mechanism investments to its reliability performance. Entergy Louisiana’s filing also includes new customer-centric programs specifically focused on affordability, such as reducing late fees and certain other fees assessed to customers, lowering additional facilities charge rates, providing eligible low-income seniors with monthly discounts on their electric bill, and adding new voluntary customer options to support new transportation electrification technologies. A status conference was held in October 2023 at which a procedural schedule was adopted that includes a hearing date of August 2024. 2017-2021 Formula Rate Plan Filings In October 2023, Entergy Louisiana and the LPSC staff jointly filed an uncontested stipulated settlement agreement for consideration by the LPSC that would resolve the evaluation of Entergy Louisiana’s formula rate plan for test years 2017, 2018, and 2019 and resolve certain disputed issues for test years 2020 and 2021. If approved by the LPSC, the settlement would result in a one-time cost of service credit to customers of $5.8 million, would allow Entergy Louisiana to retain approximately $6.2 million of excess securitization collection as recovery of a regulatory asset associated with late fees related to the 2016 Baton Rouge flood, and would result in the reversal of a regulatory liability for excess accumulated deferred income taxes recognized in 2017 as a result of the Tax Cuts and Jobs Act. See Note 3 to the financial statements in the Form 10-K for further discussion of the Tax Cuts and Jobs Act. It is anticipated that the settlement will be considered by the LPSC in November 2023. COVID-19 Orders As discussed in the Form 10-K, in April 2020 the LPSC issued an order authorizing utilities to record as a regulatory asset expenses incurred from the suspension of disconnections and collection of late fees imposed by LPSC orders associated with the COVID-19 pandemic. In April 2023, Entergy Louisiana filed an application proposing to utilize approximately $1.6 billion in certain low interest debt to generate earnings to apply toward the reduction of the COVID-19 regulatory asset, as well as to conduct additional outside right-of-way vegetation management activities and to apply to the minor storm reserve account. In that filing, Entergy Louisiana proposed to delay repayment of certain shorter-term first mortgage bonds that were issued to finance storm restoration costs until the costs could be securitized and to invest the funds that otherwise would be used to repay those bonds in the money pool to take advantage of the spread between prevailing interest rates on investments in the money pool and the interest rates on the bonds. The LPSC approved Entergy Louisiana’s requested relief in June 2023 and a subsequent filing will be required to permit the LPSC to review the COVID-19 regulatory asset. As of September 30, 2023, Entergy Louisiana had a regulatory asset of $47.8 million for costs associated with the COVID -19 pandemic. Filings with the MPSC (Entergy Mississippi) Retail Rates 2023 Formula Rate Plan Filing In March 2023, Entergy Mississippi submitted its formula rate plan 2023 test year filing and 2022 look-back filing showing Entergy Mississippi’s earned return on rate base for the historical 2022 calendar year to be below the formula rate plan bandwidth and projected earned return for the 2023 calendar year to be below the formula rate plan bandwidth. The 2023 test year filing shows a $39.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on rate base to the specified point of adjustment of 6.67%, within the formula rate plan bandwidth. The 2022 look-back filing compares actual 2022 results to the approved benchmark return on rate base and reflects the need for a $19.8 million temporary increase in formula rate plan revenues, including the refund of a $1.3 million over-recovery resulting from the demand-side management costs true-up for 2022. In fourth quarter 2022, Entergy Mississippi recorded a regulatory asset of $18.2 million in connection with the look-back feature of the formula rate plan to reflect that the 2022 estimated earned return was below the formula rate plan bandwidth. In accordance with the provisions of the formula rate plan, Entergy Mississippi implemented a $27.9 million interim rate increase, reflecting a cap equal to 2% of 2022 retail revenues, effective in April 2023. In May 2023, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed a 2023 test year filing resulting in a total revenue increase of $26.5 million for 2023. Pursuant to the joint stipulation, Entergy Mississippi’s 2022 look-back filing reflected an earned return on rate base of 6.10% in calendar year 2022, which is below the look-back bandwidth, resulting in a $19 million increase in the formula rate plan revenues on an interim basis through June 2024. Entergy Mississippi recorded a regulatory credit of $0.8 million in June 2023 to reflect the increase in the look-back regulatory asset. In addition, certain long-term service agreement and conductor handling costs were authorized for realignment from the formula rate plan to the annual power management and grid modernization riders effective January 2023, resulting in regulatory credits recorded in June 2023 of $4.1 million and $4.3 million, respectively. Also, the amortization of Entergy Mississippi’s COVID-19 bad debt deferral was suspended for calendar year 2023 and will resume in 2024. In June 2023 the MPSC approved the joint stipulation with rates effective in July 2023. Filings with the City Council (Entergy New Orleans) Retail Rates 2023 Formula Rate Plan Filing In April 2023, Entergy New Orleans submitted to the City Council its formula rate plan 2022 test year filing. The 2022 test year evaluation report produced an electric earned return on equity of 7.34% and a gas earned return on equity of 3.52% compared to the authorized return on equity for each of 9.35%. Entergy New Orleans sought approval of a $25.6 million rate increase based on the formula set by the City Council in the 2018 rate case. The formula would result in an increase in authorized electric revenues of $17.4 million and an increase in authorized gas revenues of $8.2 million. Entergy New Orleans also sought to commence collecting $3.4 million in electric revenues that were previously approved by the City Council for collection through the formula rate plan. In July 2023, Entergy New Orleans filed a report to decrease its requested formula rate plan revenues by approximately $0.5 million to account for minor errors discovered after the filing. The City Council advisors issued a report seeking a reduction in the requested formula rate plan revenues of approximately $8.3 million, combined for electric and gas, due to alleged errors. The City Council advisors proposed additional rate mitigation in the amount of $12 million through offsets to the formula rate plan rate increase by certain regulatory liabilities. In September 2023 the City Council approved an agreement to settle the 2023 formula rate plan filing. Effective with the first billing cycle of September 2023, Entergy New Orleans implemented rates reflecting an amount agreed upon by Entergy New Orleans and the City Council, per the approved process for formula rate plan implementation. The agreement provides for a total increase in electric revenues of $10.5 million and a total increase in gas revenues of $6.9 million. The agreement also provides for a minor storm accrual of $0.5 million per year and the distribution of $8.9 million of currently held customer credits to implement the City Council advisors’ mitigation recommendations. Request for Extension and Modification of Formula Rate Plan In September 2023, Entergy New Orleans filed a motion seeking City Council approval of a three-year extension of Entergy New Orleans’s electric and gas formula rate plans. In October 2023 the City Council granted Entergy New Orleans’s request for an extension, subject to minor modifications which included a capital structure not to exceed 55% equity. Filings with the PUCT and Texas Cities (Entergy Texas) Retail Rates 2022 Base Rate Case As discussed in the Form 10-K, in July 2022, Entergy Texas filed a base rate case with the PUCT seeking a net increase in base rates of approximately $131.4 million. The base rate case was based on a 12-month test year ending December 31, 2021. Key drivers of the requested increase were changes in depreciation rates as the result of a depreciation study and an increase in the return on equity. In addition, Entergy Texas included capital additions placed into service for the period of January 1, 2018 through December 31, 2021, including those additions reflected in the then-effective distribution and transmission cost recovery factor riders and the generation cost recovery rider, all of which have been reset to zero as a result of this proceeding. In May 2023, Entergy Texas filed on behalf of the parties an unopposed settlement resolving all issues in the proceeding, except for issues related to electric vehicle charging infrastructure, and Entergy Texas filed an agreed motion for interim rates, subject to refund or surcharge to the extent that the interim rates differ from the final approved rates. The unopposed settlement reflected a net base rate increase to be effective and relate back to December 2022 of $54 million, exclusive of, and incremental to, the costs being realigned from the distribution and transmission cost recovery factor riders and the generation cost recovery rider and $4.8 million of rate case expenses to be recovered through a rider over a period of 36 months. The net base rate increase of $54 million includes updated depreciation rates and a total annual revenue requirement of $14.5 million for the accrual of a self-insured storm reserve and the recovery of the regulatory assets for the pension and postretirement benefits expense deferral, costs associated with the COVID-19 pandemic, and retired non-advanced metering system electric meters. In May 2023 the ALJ with the State Office of Administrative Hearings granted the motion for interim rates, which became effective in June 2023. Additionally, the ALJ remanded the proceeding, except for the issues related to electric vehicle charging infrastructure, to the PUCT to consider the settlement. In June 2023 the ALJ issued a proposal for decision related to the electric vehicle charging infrastructure issues and which noted recent legislation enacted which permits electric utilities to own and operate such infrastructure. The ALJ’s proposal for decision deferred to the PUCT regarding whether it is appropriate for any vertically integrated electric utility, or Entergy Texas specifically, to own electric vehicle charging infrastructure, and in the event that the PUCT decided ownership is permissible, the ALJ recommended approval of the proposed tariff to charge host customers for utility-owned and operated electric vehicle charging infrastructure sited on customer premises and denial of the proposed tariff to temporarily adjust billing demand charges for separately metered electric vehicle charging infrastructure, citing cost-shifting concerns. In July 2023 the parties filed exceptions and replies to exceptions to the proposal for decision. In August 2023 the PUCT issued an order approving the unopposed settlement and also issued an order severing the issues related to electric vehicle charging infrastructure addressed in the ALJ’s proposal for decision to a separate proceeding. Concurrently, Entergy Texas recorded the reversal of $21.9 million of regulatory liabilities to reflect the recognition of certain receipts by Entergy Texas under affiliated PPAs that have been resolved. Following the PUCT’s approval of the unopposed settlement in August 2023, Entergy Texas recorded a regulatory liability of $8.9 million, which reflects the net effects of higher depreciation and amortizations for the relate back period, partially offset by the relate back of base rate revenues that would have been collected had the approved rates been in effect for the period from December 2022 through June 2023, the date the new base rates were implemented on an interim basis. In October 2023, Entergy Texas filed a relate back surcharge rider to collect over six months beginning in January 2024 an additional approximately $24.6 million, which is the revenue requirement associated with the relate back of rates from December 2022 through June 2023, including carrying costs, as authorized by the PUCT’s August 2023 order. A final decision by the PUCT is expected by first quarter 2024. Generation Cost Recovery Rider As discussed in the Form 10-K, in August 2022 the PUCT approved a unanimous settlement agreement adjusting Entergy Texas’s generation cost recovery rider to recover an annual revenue requirement of approximately $92.8 million related to Entergy Texas’s actual investment in the acquisition of the Hardin County Peaking Facility, and rates became effective. In September 2022, Entergy Texas filed a relate-back rider designed to collect over three months an additional approximately $5.7 million, which is the revenue requirement, plus carrying costs, associated with Entergy Texas’s acquisition of Hardin County Peaking Facility from June 2021 through August 2022 when the updated revenue requirement took effect. In April 2023 the PUCT approved Entergy Texas’s as-filed request with rates effective over three months beginning in May 2023. COVID-19 Orders As discussed in the Form 10-K, in March 2020 the PUCT authorized electric utilities to record as a regulatory asset expenses resulting from the effects of the COVID-19 pandemic. Pursuant to the August 2023 PUCT approval of the unopposed settlement in Entergy Texas’s 2022 base rate case proceeding, the base rate increase of $54 million includes an annual revenue requirement of $3.4 million related to recovery of the regulatory asset for costs associated with the COVID-19 pandemic. Entergy Texas began recovery of the regulatory asset with the interim increase in the annual base rate effective in June 2023. Entergy Arkansas Opportunity Sales Proceeding See Note 2 to the financial statements in the Form 10-K for discussion of the Entergy Arkansas opportunity sales proceeding. As discussed in the Form 10-K, in January 2023, Arkansas Electric Energy Consumers, Inc., an industrial customer association, filed a notice of appeal of the U.S. District Court for the Eastern District of Arkansas’s order denying its motion to intervene to the United States Court of Appeals for the Eighth Circuit and a motion with the district court to stay the proceedings pending the appeal, which was denied. In February 2023, Arkansas Electric Energy Consumers, Inc. filed a motion with the United States Court of Appeals for the Eighth District to stay the proceedings pending the appeal, which also was denied. The trial was held in February 2023. Following the trial, Entergy Arkansas filed a motion with the United States Court of Appeals for the Eighth District to expedite the appeal filed by Arkansas Electric Energy Consumers, Inc. The United States Court of Appeals for the Eighth District granted Entergy Arkansas’s request, and oral arguments were held in June 2023. In August 2023 the United States Court of Appeals for the Eighth District denied Arkansas Electric Energy Consumers, Inc.’s motion to intervene. An order from the district court is pending. Complaints Against System Energy See Note 2 to the financial statements in the Form 10-K for information regarding pending complaints against System Energy. System Energy and the Unit Power Sales Agreement are currently the subject of several litigation proceedings at the FERC, including challenges with respect to System Energy’s authorized return on equity and capital structure, renewal of its sale-leaseback arrangement, treatment of uncertain tax positions, a broader investigation of rates under the Unit Power Sales Agreement, and two prudence complaints, one challenging the extended power uprate completed at Grand Gulf in 2012 and the operation and management of Grand Gulf, particularly in the 2016-2020 time period, and the second challenging the operation and management of Grand Gulf in the 2021-2022 time period. The claims in these proceedings include claims for refunds and claims for rate adjustments; the aggregate amount of refunds claimed in these proceedings substantially exceeds the net book value of System Energy. The settlement in principle with the APSC described in “ System Energy Settlement with the APSC ” below, if approved by the FERC, will substantially reduce the aggregate amount of this exposure. In the event of an adverse decision in one or more of these proceedings requiring the payment of substantial additional refunds, System Energy would be required to seek financing to pay such refunds which may not be available on terms acceptable to System Energy, or may not be available at all, when required. The following are updates to that discussion. Return on Equity and Capital Structure Complaints As discussed in the Form 10-K, in March 2021 the FERC ALJ issued an initial decision in the proceeding initiated by the LPSC, the MPSC, the APSC, and the City Council against System Energy regarding the return on equity component of the Unit Power Sales Agreement. With regard to System Energy’s authorized return on equity, the ALJ determined that the existing return on equity of 10.94% is no longer just and reasonable, and that the replacement authorized return on equity, based on application of the Opinion No. 569-A methodology, should be 9.32%. The ALJ further determined that System Energy should pay refunds for a fifteen-month refund period (January 2017-April 2018) based on the difference between the current return on equity and the replacement authorized return on |
Entergy Texas [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy As discussed in the Form 10-K, in a filing made with the FERC in March 2018, System Energy proposed revisions to the Unit Power Sales Agreement to reflect the effects of the Tax Cuts and Jobs Act. In July 2020 the presiding ALJ in the proceeding issued an initial decision finding that there is an additional $147 million in unprotected excess accumulated deferred income taxes related to System Energy’s uncertain decommissioning tax deduction. In December 2022 the FERC issued an order addressing the ALJ’s initial decision and denying System Energy’s motion to vacate the initial decision. The FERC disagreed with the ALJ’s determination that $147 million should be credited to customers in the same manner as the excess accumulated deferred income taxes addressed in System Energy’s March 2018 filing, which had included a stated amount of excess accumulated deferred income taxes to be returned pursuant to a specified methodology and had not included any excess accumulated deferred income taxes associated with the decommissioning tax position. Instead, the FERC ordered System Energy to compute the amount of excess accumulated deferred income taxes associated with the decommissioning tax position with consideration for the resolution of the tax position by the IRS. In February 2023, System Energy made the required filing with the FERC. In June 2023 the FERC issued a deficiency letter requesting additional information about the IRS’s resolution of the tax position for 2016 and 2017. In July 2023, System Energy provided the additional information. Fuel and purchased power cost recovery Entergy Arkansas See Note 1 to the financial statements herein for discussion of the write-off in third quarter 2023 of Entergy Arkansas’s $68.9 million regulatory asset for deferred fuel related to the ANO stator incident as a result of a commitment, made in October 2023, by Entergy Arkansas to the APSC to make a filing to forgo its opportunity to seek recovery of the incremental fuel and purchased energy expense resulting from the ANO stator incident. Energy Cost Recovery Rider As discussed in the Form 10-K, in March 2021, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which included an adjustment to account for a portion of the increased fuel costs resulting from the February 2021 winter storms. In February 2023 the APSC issued orders initiating proceedings with the utilities under its jurisdiction to address the prudence of costs incurred and appropriate cost allocation of the February 2021 winter storms. With respect to any prudence review of Entergy Arkansas fuel costs, as part of the APSC’s draft report issued in its February 2021 winter storms investigation docket, the APSC included findings that the load shedding plans of the investor-owned utilities and some cooperatives were appropriate and comprehensive, and, further, that Entergy Arkansas’s emergency plan was comprehensive and had a multilayered approach supported by a system-wide response plan, which is considered an industry standard. In September 2023 the APSC issued an order in Entergy Arkansas's company-specific proceeding and found that Entergy Arkansas’s practices during the winter storms were prudent. In March 2023, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase from $0.01639 per kWh to $0.01883 per kWh. The primary reason for the rate increase is a large under-recovered balance as a result of higher natural gas prices in 2022 and a $32 million deferral related to the February 2021 winter storms consistent with the APSC general staff’s request in 2022. The under-recovered balance included in the filing was partially offset by the proceeds of the $41.7 million refund that System Energy made to Entergy Arkansas in January 2023 related to the sale-leaseback renewal costs and depreciation litigation as calculated in System Energy’s January 2023 compliance report filed with the FERC. The redetermined rate of $0.01883 per kWh became effective with the first billing cycle in April 2023 through the normal operation of the tariff. Entergy Louisiana As discussed in the Form 10-K, in March 2021 the LPSC staff provided notice of an audit of Entergy Louisiana’s purchased gas adjustment clause filings covering the period January 2018 through December 2020. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s purchased gas adjustment clause for that period. In August 2023 the LPSC submitted its audit report and found that materially all costs recovered through the purchased gas adjustment filings were reasonable and eligible for recovery through the purchased gas adjustment clause. Entergy Mississippi In June 2023 the MPSC approved the joint stipulation agreement between Entergy Mississippi and the Mississippi Public Utilities Staff for Entergy Mississippi’s 2023 formula rate plan filing. The stipulation directed Entergy Mississippi to make a compliance filing to revise its power management cost adjustment factor, to revise its grid modernization cost adjustment factor, and to include a revision to reduce the net energy cost factor to a level necessary to reflect an average natural gas price of $4.50 per MMBtu. The MPSC approved the compliance filing in June 2023, effective for July 2023 bills. See “ Retail Rate Proceedings - Filings with the MPSC (Entergy Mississippi) - Retail Rates - 2023 Formula Rate Plan Filing” below for further discussion of the 2023 formula rate plan filing and the joint stipulation agreement. Entergy Texas As discussed in the Form 10-K, in September 2022, Entergy Texas filed an application with the PUCT to reconcile its fuel and purchased power costs for the period from April 2019 through March 2022. During the reconciliation period, Entergy Texas incurred approximately $1.7 billion in eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. As of the end of the reconciliation period, Entergy Texas’s cumulative under-recovery balance was approximately $103.1 million, including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2022, pending future surcharges or refunds as approved by the PUCT. In November 2022 the PUCT referred the proceeding to the State Office of Administrative Hearings. In March 2023 municipal intervenors filed testimony proposing a $5.2 million disallowance for fuel purchased during Winter Storm Uri. The PUCT staff proposed no disallowance. Entergy Texas filed rebuttal testimony in April 2023. In May 2023, Entergy Texas filed, and the ALJ with the State Office of Administrative Hearings granted, a joint motion to abate the proceeding to give parties additional time to finalize a settlement and cancelling the hearing on the merits previously scheduled for May 2023. In July 2023, Entergy Texas filed an unopposed settlement, supporting testimony, and an agreed motion to admit evidence and remand the proceeding to the PUCT. Pursuant to the unopposed settlement, Entergy Texas would receive no disallowance of fuel costs incurred over the three-year reconciliation period and retain $9.3 million in margins from off-system sales made during the reconciliation period, resulting in a cumulative under-recovery balance of approximately $99.7 million, including interest, as of the end of the reconciliation period. In July 2023 the ALJ with the State Office of Administrative Hearings granted the motion to admit evidence and remanded the proceeding to the PUCT for consideration of the unopposed settlement. The PUCT approved the settlement in September 2023. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2023 Formula Rate Plan Filing In July 2023, Entergy Arkansas filed with the APSC its 2023 formula rate plan filing to set its formula rate for the 2024 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2024 and a netting adjustment for the historical year 2022. The filing showed that Entergy Arkansas’s earned rate of return on common equity for the 2024 projected year is 8.11% resulting in a revenue deficiency of $80.5 million. The earned rate of return on common equity for the 2022 historical year was 7.29% resulting in a $49.8 million netting adjustment. The total proposed revenue change for the 2024 projected year and 2022 historical year netting adjustment is $130.3 million. By operation of the formula rate plan, Entergy Arkansas’s recovery of the revenue requirement is subject to a four percent annual revenue constraint. Because Entergy Arkansas’s revenue requirement in this filing exceeded the constraint, the resulting increase was limited to $88.6 million. The APSC general staff and intervenors filed their errors and objections in October 2023, proposing certain adjustments, including the APSC general staff’s update to annual filing year revenues which lowers the constraint to $87.7 million. Entergy Arkansas filed its rebuttal in October 2023. In October 2023, Entergy Arkansas filed with the APSC a settlement agreement reached with other parties resolving all issues in the proceeding, none of which affected Entergy Arkansas’s requested recovery up to the cap constraint of $87.7 million. The settlement agreement is pending the APSC’s approval. COVID-19 Orders See Note 2 to the financial statements in the Form 10-K for discussion of APSC orders issued in light of the COVID-19 pandemic. In its 2023 formula rate plan filing, Entergy Arkansas proposed to amortize the COVID-19 regulatory asset over a ten-year period. No party opposed Entergy Arkansas’s request. As of September 30, 2023, Entergy Arkansas had a regulatory asset of $39 million for costs associated with the COVID-19 pandemic. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2022 Formula Rate Plan Filing In May 2023, Entergy Louisiana filed its formula rate plan evaluation report for its 2022 calendar year operations. The 2022 test year evaluation report produced an earned return on common equity of 8.33%, requiring an approximately $70.7 million increase to base rider revenue. Due to a cap for the 2021 and 2022 test years, however, base rider formula rate plan revenues are only being increased by approximately $4.9 million, leaving an ongoing revenue deficiency of approximately $65.9 million and providing for prospective return on common equity opportunity of approximately 8.38%. Other changes in formula rate plan revenue driven by increases in capacity costs, primarily legacy capacity costs, additions eligible for recovery through the transmission recovery mechanism and distribution recovery mechanism, and higher sales during the test period are offset by reductions in net MISO costs as well as credits for FERC-ordered refunds. Also included in the 2022 test year distribution recovery mechanism revenue requirement is a $6 million credit relating to the distribution recovery mechanism performance accountability standards and requirements. In total, the net increase in formula rate plan revenues, including base formula rate plan revenues inside the formula rate plan bandwidth and subject to the cap, as well as other formula rate plan revenues outside of the bandwidth, is $85.2 million. In August 2023 the LPSC staff filed a list of objections/reservations, including outstanding issues from the test years 2017-2021 formula rate plan filings, the calculation of certain refunds from System Energy, and certain calculations relating to the tax reform adjustment mechanism. Subject to refund and LPSC review, the resulting net increase in formula rate plan revenues of $85.2 million became effective for bills rendered during the first billing cycle of September 2023. 2023 Entergy Louisiana Rate Case and Formula Rate Plan Extension Request In August 2023, Entergy Louisiana filed an application for approval of a regulatory blueprint necessary for it to strengthen the electric grid for the State of Louisiana, which contains a dual-path request to update rates through either: (1) extension of Entergy Louisiana’s current formula rate plan (with certain modifications) for three years (the Rate Mitigation Proposal), which is Entergy Louisiana’s recommended path; or (2) implementation of rates resulting from a cost-of-service study (the Rate Case path). The application complies with Entergy Louisiana’s previous formula rate plan extension order requiring that for Entergy Louisiana to obtain another extension of its formula rate plan that included a rate reset, Entergy Louisiana would need to submit a full cost-of-service/rate case. Entergy Louisiana’s filing supports the need to extend Entergy Louisiana’s formula rate plan with credit supportive mechanisms needed to facilitate investment in the distribution, transmission, and generation functions. The Rate Case path proposes a 2024-2026 test year formula rate plan with an initial revenue requirement increase, net of $17 million of one-time credits, of $430 million and a return on common equity of 10.5%. Depreciation rates would be updated for all asset classes. The Rate Mitigation Proposal proposes a 2023-2025 test year formula rate plan with an expected initial revenue requirement increase, also net of $17 million of one-time credits, of $173 million and a return on common equity of 10.0%. Depreciation rates would be updated only for nuclear assets and would be phased in over three years. Under both paths, Entergy Louisiana’s filing proposes removing the cap on amounts allowed to be recovered through the distribution recovery mechanism and continuing the distribution recovery mechanism performance accountability targets, which tie Entergy Louisiana’s ability to fully recover its distribution recovery mechanism investments to its reliability performance. Entergy Louisiana’s filing also includes new customer-centric programs specifically focused on affordability, such as reducing late fees and certain other fees assessed to customers, lowering additional facilities charge rates, providing eligible low-income seniors with monthly discounts on their electric bill, and adding new voluntary customer options to support new transportation electrification technologies. A status conference was held in October 2023 at which a procedural schedule was adopted that includes a hearing date of August 2024. 2017-2021 Formula Rate Plan Filings In October 2023, Entergy Louisiana and the LPSC staff jointly filed an uncontested stipulated settlement agreement for consideration by the LPSC that would resolve the evaluation of Entergy Louisiana’s formula rate plan for test years 2017, 2018, and 2019 and resolve certain disputed issues for test years 2020 and 2021. If approved by the LPSC, the settlement would result in a one-time cost of service credit to customers of $5.8 million, would allow Entergy Louisiana to retain approximately $6.2 million of excess securitization collection as recovery of a regulatory asset associated with late fees related to the 2016 Baton Rouge flood, and would result in the reversal of a regulatory liability for excess accumulated deferred income taxes recognized in 2017 as a result of the Tax Cuts and Jobs Act. See Note 3 to the financial statements in the Form 10-K for further discussion of the Tax Cuts and Jobs Act. It is anticipated that the settlement will be considered by the LPSC in November 2023. COVID-19 Orders As discussed in the Form 10-K, in April 2020 the LPSC issued an order authorizing utilities to record as a regulatory asset expenses incurred from the suspension of disconnections and collection of late fees imposed by LPSC orders associated with the COVID-19 pandemic. In April 2023, Entergy Louisiana filed an application proposing to utilize approximately $1.6 billion in certain low interest debt to generate earnings to apply toward the reduction of the COVID-19 regulatory asset, as well as to conduct additional outside right-of-way vegetation management activities and to apply to the minor storm reserve account. In that filing, Entergy Louisiana proposed to delay repayment of certain shorter-term first mortgage bonds that were issued to finance storm restoration costs until the costs could be securitized and to invest the funds that otherwise would be used to repay those bonds in the money pool to take advantage of the spread between prevailing interest rates on investments in the money pool and the interest rates on the bonds. The LPSC approved Entergy Louisiana’s requested relief in June 2023 and a subsequent filing will be required to permit the LPSC to review the COVID-19 regulatory asset. As of September 30, 2023, Entergy Louisiana had a regulatory asset of $47.8 million for costs associated with the COVID -19 pandemic. Filings with the MPSC (Entergy Mississippi) Retail Rates 2023 Formula Rate Plan Filing In March 2023, Entergy Mississippi submitted its formula rate plan 2023 test year filing and 2022 look-back filing showing Entergy Mississippi’s earned return on rate base for the historical 2022 calendar year to be below the formula rate plan bandwidth and projected earned return for the 2023 calendar year to be below the formula rate plan bandwidth. The 2023 test year filing shows a $39.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on rate base to the specified point of adjustment of 6.67%, within the formula rate plan bandwidth. The 2022 look-back filing compares actual 2022 results to the approved benchmark return on rate base and reflects the need for a $19.8 million temporary increase in formula rate plan revenues, including the refund of a $1.3 million over-recovery resulting from the demand-side management costs true-up for 2022. In fourth quarter 2022, Entergy Mississippi recorded a regulatory asset of $18.2 million in connection with the look-back feature of the formula rate plan to reflect that the 2022 estimated earned return was below the formula rate plan bandwidth. In accordance with the provisions of the formula rate plan, Entergy Mississippi implemented a $27.9 million interim rate increase, reflecting a cap equal to 2% of 2022 retail revenues, effective in April 2023. In May 2023, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed a 2023 test year filing resulting in a total revenue increase of $26.5 million for 2023. Pursuant to the joint stipulation, Entergy Mississippi’s 2022 look-back filing reflected an earned return on rate base of 6.10% in calendar year 2022, which is below the look-back bandwidth, resulting in a $19 million increase in the formula rate plan revenues on an interim basis through June 2024. Entergy Mississippi recorded a regulatory credit of $0.8 million in June 2023 to reflect the increase in the look-back regulatory asset. In addition, certain long-term service agreement and conductor handling costs were authorized for realignment from the formula rate plan to the annual power management and grid modernization riders effective January 2023, resulting in regulatory credits recorded in June 2023 of $4.1 million and $4.3 million, respectively. Also, the amortization of Entergy Mississippi’s COVID-19 bad debt deferral was suspended for calendar year 2023 and will resume in 2024. In June 2023 the MPSC approved the joint stipulation with rates effective in July 2023. Filings with the City Council (Entergy New Orleans) Retail Rates 2023 Formula Rate Plan Filing In April 2023, Entergy New Orleans submitted to the City Council its formula rate plan 2022 test year filing. The 2022 test year evaluation report produced an electric earned return on equity of 7.34% and a gas earned return on equity of 3.52% compared to the authorized return on equity for each of 9.35%. Entergy New Orleans sought approval of a $25.6 million rate increase based on the formula set by the City Council in the 2018 rate case. The formula would result in an increase in authorized electric revenues of $17.4 million and an increase in authorized gas revenues of $8.2 million. Entergy New Orleans also sought to commence collecting $3.4 million in electric revenues that were previously approved by the City Council for collection through the formula rate plan. In July 2023, Entergy New Orleans filed a report to decrease its requested formula rate plan revenues by approximately $0.5 million to account for minor errors discovered after the filing. The City Council advisors issued a report seeking a reduction in the requested formula rate plan revenues of approximately $8.3 million, combined for electric and gas, due to alleged errors. The City Council advisors proposed additional rate mitigation in the amount of $12 million through offsets to the formula rate plan rate increase by certain regulatory liabilities. In September 2023 the City Council approved an agreement to settle the 2023 formula rate plan filing. Effective with the first billing cycle of September 2023, Entergy New Orleans implemented rates reflecting an amount agreed upon by Entergy New Orleans and the City Council, per the approved process for formula rate plan implementation. The agreement provides for a total increase in electric revenues of $10.5 million and a total increase in gas revenues of $6.9 million. The agreement also provides for a minor storm accrual of $0.5 million per year and the distribution of $8.9 million of currently held customer credits to implement the City Council advisors’ mitigation recommendations. Request for Extension and Modification of Formula Rate Plan In September 2023, Entergy New Orleans filed a motion seeking City Council approval of a three-year extension of Entergy New Orleans’s electric and gas formula rate plans. In October 2023 the City Council granted Entergy New Orleans’s request for an extension, subject to minor modifications which included a capital structure not to exceed 55% equity. Filings with the PUCT and Texas Cities (Entergy Texas) Retail Rates 2022 Base Rate Case As discussed in the Form 10-K, in July 2022, Entergy Texas filed a base rate case with the PUCT seeking a net increase in base rates of approximately $131.4 million. The base rate case was based on a 12-month test year ending December 31, 2021. Key drivers of the requested increase were changes in depreciation rates as the result of a depreciation study and an increase in the return on equity. In addition, Entergy Texas included capital additions placed into service for the period of January 1, 2018 through December 31, 2021, including those additions reflected in the then-effective distribution and transmission cost recovery factor riders and the generation cost recovery rider, all of which have been reset to zero as a result of this proceeding. In May 2023, Entergy Texas filed on behalf of the parties an unopposed settlement resolving all issues in the proceeding, except for issues related to electric vehicle charging infrastructure, and Entergy Texas filed an agreed motion for interim rates, subject to refund or surcharge to the extent that the interim rates differ from the final approved rates. The unopposed settlement reflected a net base rate increase to be effective and relate back to December 2022 of $54 million, exclusive of, and incremental to, the costs being realigned from the distribution and transmission cost recovery factor riders and the generation cost recovery rider and $4.8 million of rate case expenses to be recovered through a rider over a period of 36 months. The net base rate increase of $54 million includes updated depreciation rates and a total annual revenue requirement of $14.5 million for the accrual of a self-insured storm reserve and the recovery of the regulatory assets for the pension and postretirement benefits expense deferral, costs associated with the COVID-19 pandemic, and retired non-advanced metering system electric meters. In May 2023 the ALJ with the State Office of Administrative Hearings granted the motion for interim rates, which became effective in June 2023. Additionally, the ALJ remanded the proceeding, except for the issues related to electric vehicle charging infrastructure, to the PUCT to consider the settlement. In June 2023 the ALJ issued a proposal for decision related to the electric vehicle charging infrastructure issues and which noted recent legislation enacted which permits electric utilities to own and operate such infrastructure. The ALJ’s proposal for decision deferred to the PUCT regarding whether it is appropriate for any vertically integrated electric utility, or Entergy Texas specifically, to own electric vehicle charging infrastructure, and in the event that the PUCT decided ownership is permissible, the ALJ recommended approval of the proposed tariff to charge host customers for utility-owned and operated electric vehicle charging infrastructure sited on customer premises and denial of the proposed tariff to temporarily adjust billing demand charges for separately metered electric vehicle charging infrastructure, citing cost-shifting concerns. In July 2023 the parties filed exceptions and replies to exceptions to the proposal for decision. In August 2023 the PUCT issued an order approving the unopposed settlement and also issued an order severing the issues related to electric vehicle charging infrastructure addressed in the ALJ’s proposal for decision to a separate proceeding. Concurrently, Entergy Texas recorded the reversal of $21.9 million of regulatory liabilities to reflect the recognition of certain receipts by Entergy Texas under affiliated PPAs that have been resolved. Following the PUCT’s approval of the unopposed settlement in August 2023, Entergy Texas recorded a regulatory liability of $8.9 million, which reflects the net effects of higher depreciation and amortizations for the relate back period, partially offset by the relate back of base rate revenues that would have been collected had the approved rates been in effect for the period from December 2022 through June 2023, the date the new base rates were implemented on an interim basis. In October 2023, Entergy Texas filed a relate back surcharge rider to collect over six months beginning in January 2024 an additional approximately $24.6 million, which is the revenue requirement associated with the relate back of rates from December 2022 through June 2023, including carrying costs, as authorized by the PUCT’s August 2023 order. A final decision by the PUCT is expected by first quarter 2024. Generation Cost Recovery Rider As discussed in the Form 10-K, in August 2022 the PUCT approved a unanimous settlement agreement adjusting Entergy Texas’s generation cost recovery rider to recover an annual revenue requirement of approximately $92.8 million related to Entergy Texas’s actual investment in the acquisition of the Hardin County Peaking Facility, and rates became effective. In September 2022, Entergy Texas filed a relate-back rider designed to collect over three months an additional approximately $5.7 million, which is the revenue requirement, plus carrying costs, associated with Entergy Texas’s acquisition of Hardin County Peaking Facility from June 2021 through August 2022 when the updated revenue requirement took effect. In April 2023 the PUCT approved Entergy Texas’s as-filed request with rates effective over three months beginning in May 2023. COVID-19 Orders As discussed in the Form 10-K, in March 2020 the PUCT authorized electric utilities to record as a regulatory asset expenses resulting from the effects of the COVID-19 pandemic. Pursuant to the August 2023 PUCT approval of the unopposed settlement in Entergy Texas’s 2022 base rate case proceeding, the base rate increase of $54 million includes an annual revenue requirement of $3.4 million related to recovery of the regulatory asset for costs associated with the COVID-19 pandemic. Entergy Texas began recovery of the regulatory asset with the interim increase in the annual base rate effective in June 2023. Entergy Arkansas Opportunity Sales Proceeding See Note 2 to the financial statements in the Form 10-K for discussion of the Entergy Arkansas opportunity sales proceeding. As discussed in the Form 10-K, in January 2023, Arkansas Electric Energy Consumers, Inc., an industrial customer association, filed a notice of appeal of the U.S. District Court for the Eastern District of Arkansas’s order denying its motion to intervene to the United States Court of Appeals for the Eighth Circuit and a motion with the district court to stay the proceedings pending the appeal, which was denied. In February 2023, Arkansas Electric Energy Consumers, Inc. filed a motion with the United States Court of Appeals for the Eighth District to stay the proceedings pending the appeal, which also was denied. The trial was held in February 2023. Following the trial, Entergy Arkansas filed a motion with the United States Court of Appeals for the Eighth District to expedite the appeal filed by Arkansas Electric Energy Consumers, Inc. The United States Court of Appeals for the Eighth District granted Entergy Arkansas’s request, and oral arguments were held in June 2023. In August 2023 the United States Court of Appeals for the Eighth District denied Arkansas Electric Energy Consumers, Inc.’s motion to intervene. An order from the district court is pending. Complaints Against System Energy See Note 2 to the financial statements in the Form 10-K for information regarding pending complaints against System Energy. System Energy and the Unit Power Sales Agreement are currently the subject of several litigation proceedings at the FERC, including challenges with respect to System Energy’s authorized return on equity and capital structure, renewal of its sale-leaseback arrangement, treatment of uncertain tax positions, a broader investigation of rates under the Unit Power Sales Agreement, and two prudence complaints, one challenging the extended power uprate completed at Grand Gulf in 2012 and the operation and management of Grand Gulf, particularly in the 2016-2020 time period, and the second challenging the operation and management of Grand Gulf in the 2021-2022 time period. The claims in these proceedings include claims for refunds and claims for rate adjustments; the aggregate amount of refunds claimed in these proceedings substantially exceeds the net book value of System Energy. The settlement in principle with the APSC described in “ System Energy Settlement with the APSC ” below, if approved by the FERC, will substantially reduce the aggregate amount of this exposure. In the event of an adverse decision in one or more of these proceedings requiring the payment of substantial additional refunds, System Energy would be required to seek financing to pay such refunds which may not be available on terms acceptable to System Energy, or may not be available at all, when required. The following are updates to that discussion. Return on Equity and Capital Structure Complaints As discussed in the Form 10-K, in March 2021 the FERC ALJ issued an initial decision in the proceeding initiated by the LPSC, the MPSC, the APSC, and the City Council against System Energy regarding the return on equity component of the Unit Power Sales Agreement. With regard to System Energy’s authorized return on equity, the ALJ determined that the existing return on equity of 10.94% is no longer just and reasonable, and that the replacement authorized return on equity, based on application of the Opinion No. 569-A methodology, should be 9.32%. The ALJ further determined that System Energy should pay refunds for a fifteen-month refund period (January 2017-April 2018) based on the difference between the current return on equity and the replacement authorized return on |
System Energy [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy As discussed in the Form 10-K, in a filing made with the FERC in March 2018, System Energy proposed revisions to the Unit Power Sales Agreement to reflect the effects of the Tax Cuts and Jobs Act. In July 2020 the presiding ALJ in the proceeding issued an initial decision finding that there is an additional $147 million in unprotected excess accumulated deferred income taxes related to System Energy’s uncertain decommissioning tax deduction. In December 2022 the FERC issued an order addressing the ALJ’s initial decision and denying System Energy’s motion to vacate the initial decision. The FERC disagreed with the ALJ’s determination that $147 million should be credited to customers in the same manner as the excess accumulated deferred income taxes addressed in System Energy’s March 2018 filing, which had included a stated amount of excess accumulated deferred income taxes to be returned pursuant to a specified methodology and had not included any excess accumulated deferred income taxes associated with the decommissioning tax position. Instead, the FERC ordered System Energy to compute the amount of excess accumulated deferred income taxes associated with the decommissioning tax position with consideration for the resolution of the tax position by the IRS. In February 2023, System Energy made the required filing with the FERC. In June 2023 the FERC issued a deficiency letter requesting additional information about the IRS’s resolution of the tax position for 2016 and 2017. In July 2023, System Energy provided the additional information. Fuel and purchased power cost recovery Entergy Arkansas See Note 1 to the financial statements herein for discussion of the write-off in third quarter 2023 of Entergy Arkansas’s $68.9 million regulatory asset for deferred fuel related to the ANO stator incident as a result of a commitment, made in October 2023, by Entergy Arkansas to the APSC to make a filing to forgo its opportunity to seek recovery of the incremental fuel and purchased energy expense resulting from the ANO stator incident. Energy Cost Recovery Rider As discussed in the Form 10-K, in March 2021, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which included an adjustment to account for a portion of the increased fuel costs resulting from the February 2021 winter storms. In February 2023 the APSC issued orders initiating proceedings with the utilities under its jurisdiction to address the prudence of costs incurred and appropriate cost allocation of the February 2021 winter storms. With respect to any prudence review of Entergy Arkansas fuel costs, as part of the APSC’s draft report issued in its February 2021 winter storms investigation docket, the APSC included findings that the load shedding plans of the investor-owned utilities and some cooperatives were appropriate and comprehensive, and, further, that Entergy Arkansas’s emergency plan was comprehensive and had a multilayered approach supported by a system-wide response plan, which is considered an industry standard. In September 2023 the APSC issued an order in Entergy Arkansas's company-specific proceeding and found that Entergy Arkansas’s practices during the winter storms were prudent. In March 2023, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase from $0.01639 per kWh to $0.01883 per kWh. The primary reason for the rate increase is a large under-recovered balance as a result of higher natural gas prices in 2022 and a $32 million deferral related to the February 2021 winter storms consistent with the APSC general staff’s request in 2022. The under-recovered balance included in the filing was partially offset by the proceeds of the $41.7 million refund that System Energy made to Entergy Arkansas in January 2023 related to the sale-leaseback renewal costs and depreciation litigation as calculated in System Energy’s January 2023 compliance report filed with the FERC. The redetermined rate of $0.01883 per kWh became effective with the first billing cycle in April 2023 through the normal operation of the tariff. Entergy Louisiana As discussed in the Form 10-K, in March 2021 the LPSC staff provided notice of an audit of Entergy Louisiana’s purchased gas adjustment clause filings covering the period January 2018 through December 2020. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s purchased gas adjustment clause for that period. In August 2023 the LPSC submitted its audit report and found that materially all costs recovered through the purchased gas adjustment filings were reasonable and eligible for recovery through the purchased gas adjustment clause. Entergy Mississippi In June 2023 the MPSC approved the joint stipulation agreement between Entergy Mississippi and the Mississippi Public Utilities Staff for Entergy Mississippi’s 2023 formula rate plan filing. The stipulation directed Entergy Mississippi to make a compliance filing to revise its power management cost adjustment factor, to revise its grid modernization cost adjustment factor, and to include a revision to reduce the net energy cost factor to a level necessary to reflect an average natural gas price of $4.50 per MMBtu. The MPSC approved the compliance filing in June 2023, effective for July 2023 bills. See “ Retail Rate Proceedings - Filings with the MPSC (Entergy Mississippi) - Retail Rates - 2023 Formula Rate Plan Filing” below for further discussion of the 2023 formula rate plan filing and the joint stipulation agreement. Entergy Texas As discussed in the Form 10-K, in September 2022, Entergy Texas filed an application with the PUCT to reconcile its fuel and purchased power costs for the period from April 2019 through March 2022. During the reconciliation period, Entergy Texas incurred approximately $1.7 billion in eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. As of the end of the reconciliation period, Entergy Texas’s cumulative under-recovery balance was approximately $103.1 million, including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2022, pending future surcharges or refunds as approved by the PUCT. In November 2022 the PUCT referred the proceeding to the State Office of Administrative Hearings. In March 2023 municipal intervenors filed testimony proposing a $5.2 million disallowance for fuel purchased during Winter Storm Uri. The PUCT staff proposed no disallowance. Entergy Texas filed rebuttal testimony in April 2023. In May 2023, Entergy Texas filed, and the ALJ with the State Office of Administrative Hearings granted, a joint motion to abate the proceeding to give parties additional time to finalize a settlement and cancelling the hearing on the merits previously scheduled for May 2023. In July 2023, Entergy Texas filed an unopposed settlement, supporting testimony, and an agreed motion to admit evidence and remand the proceeding to the PUCT. Pursuant to the unopposed settlement, Entergy Texas would receive no disallowance of fuel costs incurred over the three-year reconciliation period and retain $9.3 million in margins from off-system sales made during the reconciliation period, resulting in a cumulative under-recovery balance of approximately $99.7 million, including interest, as of the end of the reconciliation period. In July 2023 the ALJ with the State Office of Administrative Hearings granted the motion to admit evidence and remanded the proceeding to the PUCT for consideration of the unopposed settlement. The PUCT approved the settlement in September 2023. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2023 Formula Rate Plan Filing In July 2023, Entergy Arkansas filed with the APSC its 2023 formula rate plan filing to set its formula rate for the 2024 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2024 and a netting adjustment for the historical year 2022. The filing showed that Entergy Arkansas’s earned rate of return on common equity for the 2024 projected year is 8.11% resulting in a revenue deficiency of $80.5 million. The earned rate of return on common equity for the 2022 historical year was 7.29% resulting in a $49.8 million netting adjustment. The total proposed revenue change for the 2024 projected year and 2022 historical year netting adjustment is $130.3 million. By operation of the formula rate plan, Entergy Arkansas’s recovery of the revenue requirement is subject to a four percent annual revenue constraint. Because Entergy Arkansas’s revenue requirement in this filing exceeded the constraint, the resulting increase was limited to $88.6 million. The APSC general staff and intervenors filed their errors and objections in October 2023, proposing certain adjustments, including the APSC general staff’s update to annual filing year revenues which lowers the constraint to $87.7 million. Entergy Arkansas filed its rebuttal in October 2023. In October 2023, Entergy Arkansas filed with the APSC a settlement agreement reached with other parties resolving all issues in the proceeding, none of which affected Entergy Arkansas’s requested recovery up to the cap constraint of $87.7 million. The settlement agreement is pending the APSC’s approval. COVID-19 Orders See Note 2 to the financial statements in the Form 10-K for discussion of APSC orders issued in light of the COVID-19 pandemic. In its 2023 formula rate plan filing, Entergy Arkansas proposed to amortize the COVID-19 regulatory asset over a ten-year period. No party opposed Entergy Arkansas’s request. As of September 30, 2023, Entergy Arkansas had a regulatory asset of $39 million for costs associated with the COVID-19 pandemic. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2022 Formula Rate Plan Filing In May 2023, Entergy Louisiana filed its formula rate plan evaluation report for its 2022 calendar year operations. The 2022 test year evaluation report produced an earned return on common equity of 8.33%, requiring an approximately $70.7 million increase to base rider revenue. Due to a cap for the 2021 and 2022 test years, however, base rider formula rate plan revenues are only being increased by approximately $4.9 million, leaving an ongoing revenue deficiency of approximately $65.9 million and providing for prospective return on common equity opportunity of approximately 8.38%. Other changes in formula rate plan revenue driven by increases in capacity costs, primarily legacy capacity costs, additions eligible for recovery through the transmission recovery mechanism and distribution recovery mechanism, and higher sales during the test period are offset by reductions in net MISO costs as well as credits for FERC-ordered refunds. Also included in the 2022 test year distribution recovery mechanism revenue requirement is a $6 million credit relating to the distribution recovery mechanism performance accountability standards and requirements. In total, the net increase in formula rate plan revenues, including base formula rate plan revenues inside the formula rate plan bandwidth and subject to the cap, as well as other formula rate plan revenues outside of the bandwidth, is $85.2 million. In August 2023 the LPSC staff filed a list of objections/reservations, including outstanding issues from the test years 2017-2021 formula rate plan filings, the calculation of certain refunds from System Energy, and certain calculations relating to the tax reform adjustment mechanism. Subject to refund and LPSC review, the resulting net increase in formula rate plan revenues of $85.2 million became effective for bills rendered during the first billing cycle of September 2023. 2023 Entergy Louisiana Rate Case and Formula Rate Plan Extension Request In August 2023, Entergy Louisiana filed an application for approval of a regulatory blueprint necessary for it to strengthen the electric grid for the State of Louisiana, which contains a dual-path request to update rates through either: (1) extension of Entergy Louisiana’s current formula rate plan (with certain modifications) for three years (the Rate Mitigation Proposal), which is Entergy Louisiana’s recommended path; or (2) implementation of rates resulting from a cost-of-service study (the Rate Case path). The application complies with Entergy Louisiana’s previous formula rate plan extension order requiring that for Entergy Louisiana to obtain another extension of its formula rate plan that included a rate reset, Entergy Louisiana would need to submit a full cost-of-service/rate case. Entergy Louisiana’s filing supports the need to extend Entergy Louisiana’s formula rate plan with credit supportive mechanisms needed to facilitate investment in the distribution, transmission, and generation functions. The Rate Case path proposes a 2024-2026 test year formula rate plan with an initial revenue requirement increase, net of $17 million of one-time credits, of $430 million and a return on common equity of 10.5%. Depreciation rates would be updated for all asset classes. The Rate Mitigation Proposal proposes a 2023-2025 test year formula rate plan with an expected initial revenue requirement increase, also net of $17 million of one-time credits, of $173 million and a return on common equity of 10.0%. Depreciation rates would be updated only for nuclear assets and would be phased in over three years. Under both paths, Entergy Louisiana’s filing proposes removing the cap on amounts allowed to be recovered through the distribution recovery mechanism and continuing the distribution recovery mechanism performance accountability targets, which tie Entergy Louisiana’s ability to fully recover its distribution recovery mechanism investments to its reliability performance. Entergy Louisiana’s filing also includes new customer-centric programs specifically focused on affordability, such as reducing late fees and certain other fees assessed to customers, lowering additional facilities charge rates, providing eligible low-income seniors with monthly discounts on their electric bill, and adding new voluntary customer options to support new transportation electrification technologies. A status conference was held in October 2023 at which a procedural schedule was adopted that includes a hearing date of August 2024. 2017-2021 Formula Rate Plan Filings In October 2023, Entergy Louisiana and the LPSC staff jointly filed an uncontested stipulated settlement agreement for consideration by the LPSC that would resolve the evaluation of Entergy Louisiana’s formula rate plan for test years 2017, 2018, and 2019 and resolve certain disputed issues for test years 2020 and 2021. If approved by the LPSC, the settlement would result in a one-time cost of service credit to customers of $5.8 million, would allow Entergy Louisiana to retain approximately $6.2 million of excess securitization collection as recovery of a regulatory asset associated with late fees related to the 2016 Baton Rouge flood, and would result in the reversal of a regulatory liability for excess accumulated deferred income taxes recognized in 2017 as a result of the Tax Cuts and Jobs Act. See Note 3 to the financial statements in the Form 10-K for further discussion of the Tax Cuts and Jobs Act. It is anticipated that the settlement will be considered by the LPSC in November 2023. COVID-19 Orders As discussed in the Form 10-K, in April 2020 the LPSC issued an order authorizing utilities to record as a regulatory asset expenses incurred from the suspension of disconnections and collection of late fees imposed by LPSC orders associated with the COVID-19 pandemic. In April 2023, Entergy Louisiana filed an application proposing to utilize approximately $1.6 billion in certain low interest debt to generate earnings to apply toward the reduction of the COVID-19 regulatory asset, as well as to conduct additional outside right-of-way vegetation management activities and to apply to the minor storm reserve account. In that filing, Entergy Louisiana proposed to delay repayment of certain shorter-term first mortgage bonds that were issued to finance storm restoration costs until the costs could be securitized and to invest the funds that otherwise would be used to repay those bonds in the money pool to take advantage of the spread between prevailing interest rates on investments in the money pool and the interest rates on the bonds. The LPSC approved Entergy Louisiana’s requested relief in June 2023 and a subsequent filing will be required to permit the LPSC to review the COVID-19 regulatory asset. As of September 30, 2023, Entergy Louisiana had a regulatory asset of $47.8 million for costs associated with the COVID -19 pandemic. Filings with the MPSC (Entergy Mississippi) Retail Rates 2023 Formula Rate Plan Filing In March 2023, Entergy Mississippi submitted its formula rate plan 2023 test year filing and 2022 look-back filing showing Entergy Mississippi’s earned return on rate base for the historical 2022 calendar year to be below the formula rate plan bandwidth and projected earned return for the 2023 calendar year to be below the formula rate plan bandwidth. The 2023 test year filing shows a $39.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on rate base to the specified point of adjustment of 6.67%, within the formula rate plan bandwidth. The 2022 look-back filing compares actual 2022 results to the approved benchmark return on rate base and reflects the need for a $19.8 million temporary increase in formula rate plan revenues, including the refund of a $1.3 million over-recovery resulting from the demand-side management costs true-up for 2022. In fourth quarter 2022, Entergy Mississippi recorded a regulatory asset of $18.2 million in connection with the look-back feature of the formula rate plan to reflect that the 2022 estimated earned return was below the formula rate plan bandwidth. In accordance with the provisions of the formula rate plan, Entergy Mississippi implemented a $27.9 million interim rate increase, reflecting a cap equal to 2% of 2022 retail revenues, effective in April 2023. In May 2023, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed a 2023 test year filing resulting in a total revenue increase of $26.5 million for 2023. Pursuant to the joint stipulation, Entergy Mississippi’s 2022 look-back filing reflected an earned return on rate base of 6.10% in calendar year 2022, which is below the look-back bandwidth, resulting in a $19 million increase in the formula rate plan revenues on an interim basis through June 2024. Entergy Mississippi recorded a regulatory credit of $0.8 million in June 2023 to reflect the increase in the look-back regulatory asset. In addition, certain long-term service agreement and conductor handling costs were authorized for realignment from the formula rate plan to the annual power management and grid modernization riders effective January 2023, resulting in regulatory credits recorded in June 2023 of $4.1 million and $4.3 million, respectively. Also, the amortization of Entergy Mississippi’s COVID-19 bad debt deferral was suspended for calendar year 2023 and will resume in 2024. In June 2023 the MPSC approved the joint stipulation with rates effective in July 2023. Filings with the City Council (Entergy New Orleans) Retail Rates 2023 Formula Rate Plan Filing In April 2023, Entergy New Orleans submitted to the City Council its formula rate plan 2022 test year filing. The 2022 test year evaluation report produced an electric earned return on equity of 7.34% and a gas earned return on equity of 3.52% compared to the authorized return on equity for each of 9.35%. Entergy New Orleans sought approval of a $25.6 million rate increase based on the formula set by the City Council in the 2018 rate case. The formula would result in an increase in authorized electric revenues of $17.4 million and an increase in authorized gas revenues of $8.2 million. Entergy New Orleans also sought to commence collecting $3.4 million in electric revenues that were previously approved by the City Council for collection through the formula rate plan. In July 2023, Entergy New Orleans filed a report to decrease its requested formula rate plan revenues by approximately $0.5 million to account for minor errors discovered after the filing. The City Council advisors issued a report seeking a reduction in the requested formula rate plan revenues of approximately $8.3 million, combined for electric and gas, due to alleged errors. The City Council advisors proposed additional rate mitigation in the amount of $12 million through offsets to the formula rate plan rate increase by certain regulatory liabilities. In September 2023 the City Council approved an agreement to settle the 2023 formula rate plan filing. Effective with the first billing cycle of September 2023, Entergy New Orleans implemented rates reflecting an amount agreed upon by Entergy New Orleans and the City Council, per the approved process for formula rate plan implementation. The agreement provides for a total increase in electric revenues of $10.5 million and a total increase in gas revenues of $6.9 million. The agreement also provides for a minor storm accrual of $0.5 million per year and the distribution of $8.9 million of currently held customer credits to implement the City Council advisors’ mitigation recommendations. Request for Extension and Modification of Formula Rate Plan In September 2023, Entergy New Orleans filed a motion seeking City Council approval of a three-year extension of Entergy New Orleans’s electric and gas formula rate plans. In October 2023 the City Council granted Entergy New Orleans’s request for an extension, subject to minor modifications which included a capital structure not to exceed 55% equity. Filings with the PUCT and Texas Cities (Entergy Texas) Retail Rates 2022 Base Rate Case As discussed in the Form 10-K, in July 2022, Entergy Texas filed a base rate case with the PUCT seeking a net increase in base rates of approximately $131.4 million. The base rate case was based on a 12-month test year ending December 31, 2021. Key drivers of the requested increase were changes in depreciation rates as the result of a depreciation study and an increase in the return on equity. In addition, Entergy Texas included capital additions placed into service for the period of January 1, 2018 through December 31, 2021, including those additions reflected in the then-effective distribution and transmission cost recovery factor riders and the generation cost recovery rider, all of which have been reset to zero as a result of this proceeding. In May 2023, Entergy Texas filed on behalf of the parties an unopposed settlement resolving all issues in the proceeding, except for issues related to electric vehicle charging infrastructure, and Entergy Texas filed an agreed motion for interim rates, subject to refund or surcharge to the extent that the interim rates differ from the final approved rates. The unopposed settlement reflected a net base rate increase to be effective and relate back to December 2022 of $54 million, exclusive of, and incremental to, the costs being realigned from the distribution and transmission cost recovery factor riders and the generation cost recovery rider and $4.8 million of rate case expenses to be recovered through a rider over a period of 36 months. The net base rate increase of $54 million includes updated depreciation rates and a total annual revenue requirement of $14.5 million for the accrual of a self-insured storm reserve and the recovery of the regulatory assets for the pension and postretirement benefits expense deferral, costs associated with the COVID-19 pandemic, and retired non-advanced metering system electric meters. In May 2023 the ALJ with the State Office of Administrative Hearings granted the motion for interim rates, which became effective in June 2023. Additionally, the ALJ remanded the proceeding, except for the issues related to electric vehicle charging infrastructure, to the PUCT to consider the settlement. In June 2023 the ALJ issued a proposal for decision related to the electric vehicle charging infrastructure issues and which noted recent legislation enacted which permits electric utilities to own and operate such infrastructure. The ALJ’s proposal for decision deferred to the PUCT regarding whether it is appropriate for any vertically integrated electric utility, or Entergy Texas specifically, to own electric vehicle charging infrastructure, and in the event that the PUCT decided ownership is permissible, the ALJ recommended approval of the proposed tariff to charge host customers for utility-owned and operated electric vehicle charging infrastructure sited on customer premises and denial of the proposed tariff to temporarily adjust billing demand charges for separately metered electric vehicle charging infrastructure, citing cost-shifting concerns. In July 2023 the parties filed exceptions and replies to exceptions to the proposal for decision. In August 2023 the PUCT issued an order approving the unopposed settlement and also issued an order severing the issues related to electric vehicle charging infrastructure addressed in the ALJ’s proposal for decision to a separate proceeding. Concurrently, Entergy Texas recorded the reversal of $21.9 million of regulatory liabilities to reflect the recognition of certain receipts by Entergy Texas under affiliated PPAs that have been resolved. Following the PUCT’s approval of the unopposed settlement in August 2023, Entergy Texas recorded a regulatory liability of $8.9 million, which reflects the net effects of higher depreciation and amortizations for the relate back period, partially offset by the relate back of base rate revenues that would have been collected had the approved rates been in effect for the period from December 2022 through June 2023, the date the new base rates were implemented on an interim basis. In October 2023, Entergy Texas filed a relate back surcharge rider to collect over six months beginning in January 2024 an additional approximately $24.6 million, which is the revenue requirement associated with the relate back of rates from December 2022 through June 2023, including carrying costs, as authorized by the PUCT’s August 2023 order. A final decision by the PUCT is expected by first quarter 2024. Generation Cost Recovery Rider As discussed in the Form 10-K, in August 2022 the PUCT approved a unanimous settlement agreement adjusting Entergy Texas’s generation cost recovery rider to recover an annual revenue requirement of approximately $92.8 million related to Entergy Texas’s actual investment in the acquisition of the Hardin County Peaking Facility, and rates became effective. In September 2022, Entergy Texas filed a relate-back rider designed to collect over three months an additional approximately $5.7 million, which is the revenue requirement, plus carrying costs, associated with Entergy Texas’s acquisition of Hardin County Peaking Facility from June 2021 through August 2022 when the updated revenue requirement took effect. In April 2023 the PUCT approved Entergy Texas’s as-filed request with rates effective over three months beginning in May 2023. COVID-19 Orders As discussed in the Form 10-K, in March 2020 the PUCT authorized electric utilities to record as a regulatory asset expenses resulting from the effects of the COVID-19 pandemic. Pursuant to the August 2023 PUCT approval of the unopposed settlement in Entergy Texas’s 2022 base rate case proceeding, the base rate increase of $54 million includes an annual revenue requirement of $3.4 million related to recovery of the regulatory asset for costs associated with the COVID-19 pandemic. Entergy Texas began recovery of the regulatory asset with the interim increase in the annual base rate effective in June 2023. Entergy Arkansas Opportunity Sales Proceeding See Note 2 to the financial statements in the Form 10-K for discussion of the Entergy Arkansas opportunity sales proceeding. As discussed in the Form 10-K, in January 2023, Arkansas Electric Energy Consumers, Inc., an industrial customer association, filed a notice of appeal of the U.S. District Court for the Eastern District of Arkansas’s order denying its motion to intervene to the United States Court of Appeals for the Eighth Circuit and a motion with the district court to stay the proceedings pending the appeal, which was denied. In February 2023, Arkansas Electric Energy Consumers, Inc. filed a motion with the United States Court of Appeals for the Eighth District to stay the proceedings pending the appeal, which also was denied. The trial was held in February 2023. Following the trial, Entergy Arkansas filed a motion with the United States Court of Appeals for the Eighth District to expedite the appeal filed by Arkansas Electric Energy Consumers, Inc. The United States Court of Appeals for the Eighth District granted Entergy Arkansas’s request, and oral arguments were held in June 2023. In August 2023 the United States Court of Appeals for the Eighth District denied Arkansas Electric Energy Consumers, Inc.’s motion to intervene. An order from the district court is pending. Complaints Against System Energy See Note 2 to the financial statements in the Form 10-K for information regarding pending complaints against System Energy. System Energy and the Unit Power Sales Agreement are currently the subject of several litigation proceedings at the FERC, including challenges with respect to System Energy’s authorized return on equity and capital structure, renewal of its sale-leaseback arrangement, treatment of uncertain tax positions, a broader investigation of rates under the Unit Power Sales Agreement, and two prudence complaints, one challenging the extended power uprate completed at Grand Gulf in 2012 and the operation and management of Grand Gulf, particularly in the 2016-2020 time period, and the second challenging the operation and management of Grand Gulf in the 2021-2022 time period. The claims in these proceedings include claims for refunds and claims for rate adjustments; the aggregate amount of refunds claimed in these proceedings substantially exceeds the net book value of System Energy. The settlement in principle with the APSC described in “ System Energy Settlement with the APSC ” below, if approved by the FERC, will substantially reduce the aggregate amount of this exposure. In the event of an adverse decision in one or more of these proceedings requiring the payment of substantial additional refunds, System Energy would be required to seek financing to pay such refunds which may not be available on terms acceptable to System Energy, or may not be available at all, when required. The following are updates to that discussion. Return on Equity and Capital Structure Complaints As discussed in the Form 10-K, in March 2021 the FERC ALJ issued an initial decision in the proceeding initiated by the LPSC, the MPSC, the APSC, and the City Council against System Energy regarding the return on equity component of the Unit Power Sales Agreement. With regard to System Energy’s authorized return on equity, the ALJ determined that the existing return on equity of 10.94% is no longer just and reasonable, and that the replacement authorized return on equity, based on application of the Opinion No. 569-A methodology, should be 9.32%. The ALJ further determined that System Energy should pay refunds for a fifteen-month refund period (January 2017-April 2018) based on the difference between the current return on equity and the replacement authorized return on |
Equity
Equity | 9 Months Ended |
Sep. 30, 2023 | |
Equity | EQUITY (Entergy Corporation and Entergy Louisiana) Common Stock Earnings per Share The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Three Months Ended September 30, 2023 2022 (In Millions, Except Per Share Data) $/share $/share Net income attributable to Entergy Corporation $666.8 $560.6 Basic shares and earnings per average common share 211.5 $3.15 203.4 $2.76 Average dilutive effect of: Stock options 0.2 — 0.5 (0.01) Other equity plans 0.5 (0.01) 0.6 (0.01) Equity forwards — — 0.1 — Diluted shares and earnings per average common shares 212.2 $3.14 204.6 $2.74 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was 1,305,354 options for the three months ended September 30, 2023 and 926,403 options for the three months ended September 30, 2022. The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Nine Months Ended September 30, 2023 2022 (In Millions, Except Per Share Data) $/share $/share Net income attributable to Entergy Corporation $1,368.9 $996.7 Basic shares and earnings per average common share 211.4 $6.47 203.3 $4.90 Average dilutive effect of: Stock options 0.3 (0.01) 0.5 (0.01) Other equity plans 0.5 (0.01) 0.5 (0.01) Equity forwards — — 0.1 — Diluted shares and earnings per average common shares 212.2 $6.45 204.4 $4.88 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was 1,138,384 options for the nine months ended September 30, 2023 and 937,350 options for the nine months ended September 30, 2022. Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. Dividends declared per common share were $1.07 for the three months ended September 30, 2023 and $1.01 for the three months ended September 30, 2022. Dividends declared per common share were $3.21 for the nine months ended September 30, 2023 and $3.03 for the nine months ended September 30, 2022. Equity Distribution Program In January 2021, Entergy entered into an equity distribution sales agreement with several counterparties establishing an at the market equity distribution program, pursuant to which Entergy may offer and sell from time to time shares of its common stock. The sales agreement provides that, in addition to the issuance and sale of shares of Entergy common stock, Entergy may enter into forward sale agreements for the sale of its common stock. The aggregate number of shares of common stock sold under this sales agreement and under any forward sale agreement may not exceed an aggregate gross sales price of $2 billion. As of September 30, 2023, shares at an aggregate gross sales price of approximately $1,126 million have been sold under the at the market equity distribution program. During the nine months ended September 30, 2023 and 2022, there were no shares of common stock issued under the at the market equity distribution program. In March, June, and September 2022, Entergy entered into forward sale agreements for 1,538,010 shares, 2,124,086 shares, and 1,666,172 shares of common stock, respectively. No amounts were recorded on Entergy’s balance sheet with respect to the equity offering until settlements of the equity forward sale agreements occurred in November 2022. The forward sale agreements required Entergy to, at its election prior to September 29, 2023 for the March 2022 agreements and prior to December 29, 2023 for the June and September agreements, either (i) physically settle the transactions by issuing the total of 1,538,010 shares, 2,124,086 shares, and 1,666,172 shares, respectively, of its common stock to the forward counterparties in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially approximately $108.12, $116.94, and $115.46 per share, respectively) or (ii) net settle the transactions in whole or in part through the delivery or receipt of cash or shares. The forward sale price is subject to adjustment on a daily basis based on a floating interest rate factor and will decrease by other fixed amounts specified in the agreements. In connection with the forward sale agreements, the forward seller, or its affiliates, borrowed from third parties and sold 1,538,010 shares, 2,124,086 shares, and 1,666,172 shares, respectively, of Entergy Corporation’s common stock. The gross sales price of these shares totaled approximately $168 million, $250.9 million, and $194.2 million, respectively. In connection with the sales of these shares, Entergy paid the forward sellers fees of approximately $1.7 million, $2.5 million, and $1.9 million, respectively, which have not been deducted from the gross sales prices. Entergy did not receive any proceeds from such sales of borrowed shares. In November 2022, Entergy physically settled its obligations under the then-outstanding forward sale agreements by delivering 7,688,419 shares of common stock in exchange for cash proceeds of $853.3 million. See Note 7 to the financial statements in the Form 10-K for discussion of the common stock issued and forward sale agreements settled under the at the market equity distribution program. In June 2023, Entergy entered into forward sale agreements for 102,995 shares and 365,307 shares of common stock. No amounts have been or will be recorded on Entergy’s balance sheet with respect to the equity offerings until settlements of the equity forward sale agreements occur. The forward sale agreements require Entergy to, at its election prior to May 31, 2024 or June 28, 2024, respectively, either (i) physically settle the transactions by issuing the total of 102,995 shares and 365,307 shares, respectively, of its common stock to the forward counterparty in exchange for net proceeds at the then-applicable forward sale price specified by the agreement (initially approximately $101.36 and $101.39 per share, respectively) or (ii) net settle the transaction in whole or in part through the delivery or receipt of cash or shares. Each forward sale price is subject to adjustment on a daily basis based on a floating interest rate factor and will decrease by other fixed amounts specified in the agreement. In connection with the forward sale agreements, the forward seller, or its affiliates, borrowed from third parties and sold 102,995 shares and 365,307 shares, respectively, of Entergy Corporation’s common stock. The gross sales price of these shares totaled approximately $10.5 million and $37.4 million, respectively. In connection with the sale of these shares, Entergy paid the forward sellers fees of approximately $0.1 million and $0.4 million, respectively, which have not been deducted from the gross sales price. Entergy did not receive any proceeds from such sales of borrowed shares. Until settlement of the forward sale agreements, earnings per share dilution resulting from the agreements, if any, will be determined under the treasury stock method. Share dilution occurs when the average market price of Entergy’s common stock is higher than the average forward sales price. For the nine months ended September 30, 2023 and 2022, 468,302 shares and 4,757,308 shares, respectively, under the forward sale agreements were not included in the calculation of diluted earnings per share because their effect would have been antidilutive. Treasury Stock During the nine months ended September 30, 2023, Entergy Corporation issued 295,304 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2023. Retained Earnings On October 27, 2023, Entergy Corporation’s Board of Directors declared a common stock dividend of $1.13 per share, payable on December 1, 2023 to holders of record as of November 14, 2023. Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2023: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, July 1, 2023 ($193,019) Amounts reclassified from accumulated other comprehensive income (loss) (2,434) Net other comprehensive income (loss) for the period (2,434) Ending balance, September 30, 2023 ($195,453) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2022 by component: Cash flow Pension Net Total (In Thousands) Beginning balance, July 1, 2022 ($987) ($324,274) $1,223 ($324,038) Other comprehensive income (loss) before reclassifications (14) — (1,223) (1,237) Amounts reclassified from accumulated other comprehensive income 38 11,867 — 11,905 Net other comprehensive income (loss) for the period 24 11,867 (1,223) 10,668 Ending balance, September 30, 2022 ($963) ($312,407) $— ($313,370) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2023: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2023 ($191,754) Amounts reclassified from accumulated other comprehensive income (loss) (3,699) Net other comprehensive income (loss) for the period (3,699) Ending balance, September 30, 2023 ($195,453) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2022 by component: Cash flow Pension Net Total (In Thousands) Beginning balance, January 1, 2022 ($1,035) ($338,647) $7,154 ($332,528) Other comprehensive income (loss) before reclassifications (42) — (12,997) (13,039) Amounts reclassified from accumulated other comprehensive income (loss) 114 26,240 5,843 32,197 Net other comprehensive income (loss) for the period 72 26,240 (7,154) 19,158 Ending balance, September 30, 2022 ($963) ($312,407) $— ($313,370) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2023 and 2022: Pension and Other 2023 2022 (In Thousands) Beginning balance, July 1, $52,811 $7,174 Amounts reclassified from accumulated other comprehensive income (loss) (1,829) 295 Net other comprehensive income (loss) for the period (1,829) 295 Ending balance, September 30, $50,982 $7,469 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2023 and 2022: Pension and Other 2023 2022 (In Thousands) Beginning balance, January 1, $55,370 $8,278 Amounts reclassified from accumulated other comprehensive income (loss) (4,388) (809) Net other comprehensive income (loss) for the period (4,388) (809) Ending balance, September 30, $50,982 $7,469 Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the three months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Cash flow hedges net unrealized loss Interest rate swaps $— ($48) Miscellaneous - net Total realized loss on cash flow hedges — (48) Income taxes — 10 Income taxes Total realized loss on cash flow hedges (net of tax) $— ($38) Pension and other postretirement liabilities Amortization of prior-service credit $3,396 $3,837 (a) Amortization of net gain (loss) 1,700 (4,870) (a) Settlement loss (1,919) (14,339) (a) Total amortization and settlement loss 3,177 (15,372) Income taxes (743) 3,505 Income taxes Total amortization and settlement loss (net of tax) $2,434 ($11,867) Net unrealized investment gain (loss) Total realized investment gain (loss) $— $— Total reclassifications for the period (net of tax) $2,434 ($11,905) (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the nine months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Cash flow hedges net unrealized loss Interest rate swaps $— ($145) Miscellaneous - net Total realized loss on cash flow hedges — (145) Income taxes — 31 Income taxes Total realized loss on cash flow hedges (net of tax) $— ($114) Pension and other postretirement liabilities Amortization of prior-service credit $10,191 $11,511 (a) Amortization of net gain (loss) 4,994 (29,774) (a) Settlement loss (10,408) (15,666) (a) Total amortization and settlement loss 4,777 (33,929) Income taxes (1,078) 7,689 Income taxes Total amortization and settlement loss (net of tax) $3,699 ($26,240) Net unrealized investment loss Realized loss $— ($9,245) Interest and investment income Income taxes — 3,402 Income taxes Total realized investment loss (net of tax) $— ($5,843) Total reclassifications for the period (net of tax) $3,699 ($32,197) (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the three months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $951 $1,158 (a) Amortization of gain (loss) 1,574 (222) (a) Settlement loss (22) (1,340) (a) Total amortization and settlement loss 2,503 (404) Income taxes (674) 109 Income taxes Total amortization and settlement loss (net of tax) 1,829 (295) Total reclassifications for the period (net of tax) $1,829 ($295) (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the nine months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $2,853 $3,474 (a) Amortization of gain (loss) 4,703 (849) (a) Settlement loss (1,551) (1,518) (a) Total amortization and settlement loss 6,005 1,107 Income taxes (1,617) (298) Income taxes Total amortization and settlement loss (net of tax) 4,388 809 Total reclassifications for the period (net of tax) $4,388 $809 (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Noncontrolling Interests The dollar value of noncontrolling interests for Entergy Louisiana as of September 30, 2023 and December 31, 2022 is presented below: 2023 2022 (In Thousands) Entergy Louisiana Noncontrolling Interests Restoration Law Trust I (a) $32,084 $31,735 Restoration Law Trust II (b) 15,130 — Total Noncontrolling Interests $47,214 $31,735 (a) See Note 12 to the financial statements herein and Note 17 to the financial statements in the Form 10-K for discussion of Restoration Law Trust I. (b) Restoration Law Trust II (the storm trust II) was established as part of the Act 293 securitization of Entergy Louisiana’s Hurricane Ida storm restoration costs in March 2023. The storm trust II holds preferred membership interests issued by Entergy Finance Company, and Entergy Finance Company is required to make annual distributions (dividends) on the preferred membership interests. These annual dividends paid on the Entergy Finance Company preferred membership interests will be distributed 1% to the LURC and 99% to Entergy Louisiana. Entergy Louisiana, as the primary beneficiary, consolidates the storm trust II and the LURC’s 1% beneficial interest in noncontrolling interests in the consolidated financial statements for Entergy Louisiana and Entergy. See Note 2 to the financial statements herein for a discussion of the Entergy Louisiana March 2023 storm cost securitization. |
Entergy Louisiana [Member] | |
Equity | EQUITY (Entergy Corporation and Entergy Louisiana) Common Stock Earnings per Share The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Three Months Ended September 30, 2023 2022 (In Millions, Except Per Share Data) $/share $/share Net income attributable to Entergy Corporation $666.8 $560.6 Basic shares and earnings per average common share 211.5 $3.15 203.4 $2.76 Average dilutive effect of: Stock options 0.2 — 0.5 (0.01) Other equity plans 0.5 (0.01) 0.6 (0.01) Equity forwards — — 0.1 — Diluted shares and earnings per average common shares 212.2 $3.14 204.6 $2.74 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was 1,305,354 options for the three months ended September 30, 2023 and 926,403 options for the three months ended September 30, 2022. The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Nine Months Ended September 30, 2023 2022 (In Millions, Except Per Share Data) $/share $/share Net income attributable to Entergy Corporation $1,368.9 $996.7 Basic shares and earnings per average common share 211.4 $6.47 203.3 $4.90 Average dilutive effect of: Stock options 0.3 (0.01) 0.5 (0.01) Other equity plans 0.5 (0.01) 0.5 (0.01) Equity forwards — — 0.1 — Diluted shares and earnings per average common shares 212.2 $6.45 204.4 $4.88 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was 1,138,384 options for the nine months ended September 30, 2023 and 937,350 options for the nine months ended September 30, 2022. Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. Dividends declared per common share were $1.07 for the three months ended September 30, 2023 and $1.01 for the three months ended September 30, 2022. Dividends declared per common share were $3.21 for the nine months ended September 30, 2023 and $3.03 for the nine months ended September 30, 2022. Equity Distribution Program In January 2021, Entergy entered into an equity distribution sales agreement with several counterparties establishing an at the market equity distribution program, pursuant to which Entergy may offer and sell from time to time shares of its common stock. The sales agreement provides that, in addition to the issuance and sale of shares of Entergy common stock, Entergy may enter into forward sale agreements for the sale of its common stock. The aggregate number of shares of common stock sold under this sales agreement and under any forward sale agreement may not exceed an aggregate gross sales price of $2 billion. As of September 30, 2023, shares at an aggregate gross sales price of approximately $1,126 million have been sold under the at the market equity distribution program. During the nine months ended September 30, 2023 and 2022, there were no shares of common stock issued under the at the market equity distribution program. In March, June, and September 2022, Entergy entered into forward sale agreements for 1,538,010 shares, 2,124,086 shares, and 1,666,172 shares of common stock, respectively. No amounts were recorded on Entergy’s balance sheet with respect to the equity offering until settlements of the equity forward sale agreements occurred in November 2022. The forward sale agreements required Entergy to, at its election prior to September 29, 2023 for the March 2022 agreements and prior to December 29, 2023 for the June and September agreements, either (i) physically settle the transactions by issuing the total of 1,538,010 shares, 2,124,086 shares, and 1,666,172 shares, respectively, of its common stock to the forward counterparties in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially approximately $108.12, $116.94, and $115.46 per share, respectively) or (ii) net settle the transactions in whole or in part through the delivery or receipt of cash or shares. The forward sale price is subject to adjustment on a daily basis based on a floating interest rate factor and will decrease by other fixed amounts specified in the agreements. In connection with the forward sale agreements, the forward seller, or its affiliates, borrowed from third parties and sold 1,538,010 shares, 2,124,086 shares, and 1,666,172 shares, respectively, of Entergy Corporation’s common stock. The gross sales price of these shares totaled approximately $168 million, $250.9 million, and $194.2 million, respectively. In connection with the sales of these shares, Entergy paid the forward sellers fees of approximately $1.7 million, $2.5 million, and $1.9 million, respectively, which have not been deducted from the gross sales prices. Entergy did not receive any proceeds from such sales of borrowed shares. In November 2022, Entergy physically settled its obligations under the then-outstanding forward sale agreements by delivering 7,688,419 shares of common stock in exchange for cash proceeds of $853.3 million. See Note 7 to the financial statements in the Form 10-K for discussion of the common stock issued and forward sale agreements settled under the at the market equity distribution program. In June 2023, Entergy entered into forward sale agreements for 102,995 shares and 365,307 shares of common stock. No amounts have been or will be recorded on Entergy’s balance sheet with respect to the equity offerings until settlements of the equity forward sale agreements occur. The forward sale agreements require Entergy to, at its election prior to May 31, 2024 or June 28, 2024, respectively, either (i) physically settle the transactions by issuing the total of 102,995 shares and 365,307 shares, respectively, of its common stock to the forward counterparty in exchange for net proceeds at the then-applicable forward sale price specified by the agreement (initially approximately $101.36 and $101.39 per share, respectively) or (ii) net settle the transaction in whole or in part through the delivery or receipt of cash or shares. Each forward sale price is subject to adjustment on a daily basis based on a floating interest rate factor and will decrease by other fixed amounts specified in the agreement. In connection with the forward sale agreements, the forward seller, or its affiliates, borrowed from third parties and sold 102,995 shares and 365,307 shares, respectively, of Entergy Corporation’s common stock. The gross sales price of these shares totaled approximately $10.5 million and $37.4 million, respectively. In connection with the sale of these shares, Entergy paid the forward sellers fees of approximately $0.1 million and $0.4 million, respectively, which have not been deducted from the gross sales price. Entergy did not receive any proceeds from such sales of borrowed shares. Until settlement of the forward sale agreements, earnings per share dilution resulting from the agreements, if any, will be determined under the treasury stock method. Share dilution occurs when the average market price of Entergy’s common stock is higher than the average forward sales price. For the nine months ended September 30, 2023 and 2022, 468,302 shares and 4,757,308 shares, respectively, under the forward sale agreements were not included in the calculation of diluted earnings per share because their effect would have been antidilutive. Treasury Stock During the nine months ended September 30, 2023, Entergy Corporation issued 295,304 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2023. Retained Earnings On October 27, 2023, Entergy Corporation’s Board of Directors declared a common stock dividend of $1.13 per share, payable on December 1, 2023 to holders of record as of November 14, 2023. Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2023: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, July 1, 2023 ($193,019) Amounts reclassified from accumulated other comprehensive income (loss) (2,434) Net other comprehensive income (loss) for the period (2,434) Ending balance, September 30, 2023 ($195,453) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2022 by component: Cash flow Pension Net Total (In Thousands) Beginning balance, July 1, 2022 ($987) ($324,274) $1,223 ($324,038) Other comprehensive income (loss) before reclassifications (14) — (1,223) (1,237) Amounts reclassified from accumulated other comprehensive income 38 11,867 — 11,905 Net other comprehensive income (loss) for the period 24 11,867 (1,223) 10,668 Ending balance, September 30, 2022 ($963) ($312,407) $— ($313,370) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2023: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2023 ($191,754) Amounts reclassified from accumulated other comprehensive income (loss) (3,699) Net other comprehensive income (loss) for the period (3,699) Ending balance, September 30, 2023 ($195,453) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2022 by component: Cash flow Pension Net Total (In Thousands) Beginning balance, January 1, 2022 ($1,035) ($338,647) $7,154 ($332,528) Other comprehensive income (loss) before reclassifications (42) — (12,997) (13,039) Amounts reclassified from accumulated other comprehensive income (loss) 114 26,240 5,843 32,197 Net other comprehensive income (loss) for the period 72 26,240 (7,154) 19,158 Ending balance, September 30, 2022 ($963) ($312,407) $— ($313,370) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2023 and 2022: Pension and Other 2023 2022 (In Thousands) Beginning balance, July 1, $52,811 $7,174 Amounts reclassified from accumulated other comprehensive income (loss) (1,829) 295 Net other comprehensive income (loss) for the period (1,829) 295 Ending balance, September 30, $50,982 $7,469 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2023 and 2022: Pension and Other 2023 2022 (In Thousands) Beginning balance, January 1, $55,370 $8,278 Amounts reclassified from accumulated other comprehensive income (loss) (4,388) (809) Net other comprehensive income (loss) for the period (4,388) (809) Ending balance, September 30, $50,982 $7,469 Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the three months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Cash flow hedges net unrealized loss Interest rate swaps $— ($48) Miscellaneous - net Total realized loss on cash flow hedges — (48) Income taxes — 10 Income taxes Total realized loss on cash flow hedges (net of tax) $— ($38) Pension and other postretirement liabilities Amortization of prior-service credit $3,396 $3,837 (a) Amortization of net gain (loss) 1,700 (4,870) (a) Settlement loss (1,919) (14,339) (a) Total amortization and settlement loss 3,177 (15,372) Income taxes (743) 3,505 Income taxes Total amortization and settlement loss (net of tax) $2,434 ($11,867) Net unrealized investment gain (loss) Total realized investment gain (loss) $— $— Total reclassifications for the period (net of tax) $2,434 ($11,905) (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the nine months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Cash flow hedges net unrealized loss Interest rate swaps $— ($145) Miscellaneous - net Total realized loss on cash flow hedges — (145) Income taxes — 31 Income taxes Total realized loss on cash flow hedges (net of tax) $— ($114) Pension and other postretirement liabilities Amortization of prior-service credit $10,191 $11,511 (a) Amortization of net gain (loss) 4,994 (29,774) (a) Settlement loss (10,408) (15,666) (a) Total amortization and settlement loss 4,777 (33,929) Income taxes (1,078) 7,689 Income taxes Total amortization and settlement loss (net of tax) $3,699 ($26,240) Net unrealized investment loss Realized loss $— ($9,245) Interest and investment income Income taxes — 3,402 Income taxes Total realized investment loss (net of tax) $— ($5,843) Total reclassifications for the period (net of tax) $3,699 ($32,197) (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the three months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $951 $1,158 (a) Amortization of gain (loss) 1,574 (222) (a) Settlement loss (22) (1,340) (a) Total amortization and settlement loss 2,503 (404) Income taxes (674) 109 Income taxes Total amortization and settlement loss (net of tax) 1,829 (295) Total reclassifications for the period (net of tax) $1,829 ($295) (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the nine months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $2,853 $3,474 (a) Amortization of gain (loss) 4,703 (849) (a) Settlement loss (1,551) (1,518) (a) Total amortization and settlement loss 6,005 1,107 Income taxes (1,617) (298) Income taxes Total amortization and settlement loss (net of tax) 4,388 809 Total reclassifications for the period (net of tax) $4,388 $809 (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Noncontrolling Interests The dollar value of noncontrolling interests for Entergy Louisiana as of September 30, 2023 and December 31, 2022 is presented below: 2023 2022 (In Thousands) Entergy Louisiana Noncontrolling Interests Restoration Law Trust I (a) $32,084 $31,735 Restoration Law Trust II (b) 15,130 — Total Noncontrolling Interests $47,214 $31,735 (a) See Note 12 to the financial statements herein and Note 17 to the financial statements in the Form 10-K for discussion of Restoration Law Trust I. (b) Restoration Law Trust II (the storm trust II) was established as part of the Act 293 securitization of Entergy Louisiana’s Hurricane Ida storm restoration costs in March 2023. The storm trust II holds preferred membership interests issued by Entergy Finance Company, and Entergy Finance Company is required to make annual distributions (dividends) on the preferred membership interests. These annual dividends paid on the Entergy Finance Company preferred membership interests will be distributed 1% to the LURC and 99% to Entergy Louisiana. Entergy Louisiana, as the primary beneficiary, consolidates the storm trust II and the LURC’s 1% beneficial interest in noncontrolling interests in the consolidated financial statements for Entergy Louisiana and Entergy. See Note 2 to the financial statements herein for a discussion of the Entergy Louisiana March 2023 storm cost securitization. |
Revolving Credit Facilities, Li
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | 9 Months Ended |
Sep. 30, 2023 | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in June 2028. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.44% on the drawn portion of the facility. As of September 30, 2023, amounts outstanding and capacity available under the $3.5 billion credit facility are: Capacity Borrowings Letters Capacity (In Millions) $3,500 $— $3 $3,497 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion. As of September 30, 2023, Entergy Corporation had $1,351.1 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2023 was 5.35%. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO. The following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have FERC- authorized short-term borrowing limits effective through April 2025. The FERC-authorized short-term borrowing limit for System Energy is effective through March 2025. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are intercompany borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Credit Facility (Entergy Corporation) In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Entergy Assets Management Operations, LLC (formerly Vermont Yankee Asset Retirement, LLC), Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2024. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2023, $139 million in cash borrowings were outstanding under the credit facility. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.47% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant. The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. As of September 30, 2023, Entergy Arkansas and Entergy Louisiana each has obtained financing authorization from the FERC that extend through April 2025 and System Energy has obtained financing authorization from the FERC that extends through March 2025 for issuances by their nuclear fuel company VIEs. Debt Issuances and Retirements (Entergy Arkansas) In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas used the proceeds, together with other funds, to repay, at maturity, its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes. In August 2023, Entergy Arkansas issued $300 million of 5.30% Series mortgage bonds due September 2033. Entergy Arkansas used the proceeds, together with other funds, to repay debt outstanding under its $150 million long-term revolving credit facility and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (Entergy Louisiana) In September 2023, Entergy Louisiana repaid, at maturity, $325 million of 4.05% Series mortgage bonds. (Entergy Mississippi) In May 2023, Entergy Mississippi issued $300 million of 5.0% Series mortgage bonds due September 2033. Entergy Mississippi used the proceeds, together with other funds, to repay, prior to maturity, its $250 million of 3.10% Series mortgage bonds due July 2023 and $50 million of its unsecured term loan due December 2023 and for general corporate purposes. (Entergy New Orleans) In May 2023, Entergy New Orleans amended its $70 million unsecured term loan credit agreement, to provide for additional borrowings of $15 million due June 2024. The amended term loan bears interest at a fixed interest rate of 6.25% payable on the unpaid principal amount, compared to the previous rate of 2.5%. Entergy New Orleans used the funds for general corporate purposes. In July 2023, Entergy New Orleans repaid, at maturity, $100 million of 3.9% Series mortgage bonds. (Entergy Texas) In August 2023, Entergy Texas issued $350 million of 5.80% Series mortgage bonds due September 2053. Entergy Texas used the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (System Energy) In March 2023, System Energy issued $325 million of 6.00% Series mortgage bonds due April 2028. System Energy used the proceeds, together with other funds, to repay, prior to maturity, its $50 million term loan due November 2023, and to repay, at maturity, its $250 million of 4.10% Series mortgage bonds due April 2023, and for general corporate purposes. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy Arkansas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in June 2028. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.44% on the drawn portion of the facility. As of September 30, 2023, amounts outstanding and capacity available under the $3.5 billion credit facility are: Capacity Borrowings Letters Capacity (In Millions) $3,500 $— $3 $3,497 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion. As of September 30, 2023, Entergy Corporation had $1,351.1 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2023 was 5.35%. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO. The following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have FERC- authorized short-term borrowing limits effective through April 2025. The FERC-authorized short-term borrowing limit for System Energy is effective through March 2025. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are intercompany borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Credit Facility (Entergy Corporation) In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Entergy Assets Management Operations, LLC (formerly Vermont Yankee Asset Retirement, LLC), Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2024. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2023, $139 million in cash borrowings were outstanding under the credit facility. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.47% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant. The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. As of September 30, 2023, Entergy Arkansas and Entergy Louisiana each has obtained financing authorization from the FERC that extend through April 2025 and System Energy has obtained financing authorization from the FERC that extends through March 2025 for issuances by their nuclear fuel company VIEs. Debt Issuances and Retirements (Entergy Arkansas) In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas used the proceeds, together with other funds, to repay, at maturity, its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes. In August 2023, Entergy Arkansas issued $300 million of 5.30% Series mortgage bonds due September 2033. Entergy Arkansas used the proceeds, together with other funds, to repay debt outstanding under its $150 million long-term revolving credit facility and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (Entergy Louisiana) In September 2023, Entergy Louisiana repaid, at maturity, $325 million of 4.05% Series mortgage bonds. (Entergy Mississippi) In May 2023, Entergy Mississippi issued $300 million of 5.0% Series mortgage bonds due September 2033. Entergy Mississippi used the proceeds, together with other funds, to repay, prior to maturity, its $250 million of 3.10% Series mortgage bonds due July 2023 and $50 million of its unsecured term loan due December 2023 and for general corporate purposes. (Entergy New Orleans) In May 2023, Entergy New Orleans amended its $70 million unsecured term loan credit agreement, to provide for additional borrowings of $15 million due June 2024. The amended term loan bears interest at a fixed interest rate of 6.25% payable on the unpaid principal amount, compared to the previous rate of 2.5%. Entergy New Orleans used the funds for general corporate purposes. In July 2023, Entergy New Orleans repaid, at maturity, $100 million of 3.9% Series mortgage bonds. (Entergy Texas) In August 2023, Entergy Texas issued $350 million of 5.80% Series mortgage bonds due September 2053. Entergy Texas used the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (System Energy) In March 2023, System Energy issued $325 million of 6.00% Series mortgage bonds due April 2028. System Energy used the proceeds, together with other funds, to repay, prior to maturity, its $50 million term loan due November 2023, and to repay, at maturity, its $250 million of 4.10% Series mortgage bonds due April 2023, and for general corporate purposes. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy Louisiana [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in June 2028. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.44% on the drawn portion of the facility. As of September 30, 2023, amounts outstanding and capacity available under the $3.5 billion credit facility are: Capacity Borrowings Letters Capacity (In Millions) $3,500 $— $3 $3,497 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion. As of September 30, 2023, Entergy Corporation had $1,351.1 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2023 was 5.35%. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO. The following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have FERC- authorized short-term borrowing limits effective through April 2025. The FERC-authorized short-term borrowing limit for System Energy is effective through March 2025. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are intercompany borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Credit Facility (Entergy Corporation) In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Entergy Assets Management Operations, LLC (formerly Vermont Yankee Asset Retirement, LLC), Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2024. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2023, $139 million in cash borrowings were outstanding under the credit facility. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.47% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant. The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. As of September 30, 2023, Entergy Arkansas and Entergy Louisiana each has obtained financing authorization from the FERC that extend through April 2025 and System Energy has obtained financing authorization from the FERC that extends through March 2025 for issuances by their nuclear fuel company VIEs. Debt Issuances and Retirements (Entergy Arkansas) In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas used the proceeds, together with other funds, to repay, at maturity, its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes. In August 2023, Entergy Arkansas issued $300 million of 5.30% Series mortgage bonds due September 2033. Entergy Arkansas used the proceeds, together with other funds, to repay debt outstanding under its $150 million long-term revolving credit facility and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (Entergy Louisiana) In September 2023, Entergy Louisiana repaid, at maturity, $325 million of 4.05% Series mortgage bonds. (Entergy Mississippi) In May 2023, Entergy Mississippi issued $300 million of 5.0% Series mortgage bonds due September 2033. Entergy Mississippi used the proceeds, together with other funds, to repay, prior to maturity, its $250 million of 3.10% Series mortgage bonds due July 2023 and $50 million of its unsecured term loan due December 2023 and for general corporate purposes. (Entergy New Orleans) In May 2023, Entergy New Orleans amended its $70 million unsecured term loan credit agreement, to provide for additional borrowings of $15 million due June 2024. The amended term loan bears interest at a fixed interest rate of 6.25% payable on the unpaid principal amount, compared to the previous rate of 2.5%. Entergy New Orleans used the funds for general corporate purposes. In July 2023, Entergy New Orleans repaid, at maturity, $100 million of 3.9% Series mortgage bonds. (Entergy Texas) In August 2023, Entergy Texas issued $350 million of 5.80% Series mortgage bonds due September 2053. Entergy Texas used the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (System Energy) In March 2023, System Energy issued $325 million of 6.00% Series mortgage bonds due April 2028. System Energy used the proceeds, together with other funds, to repay, prior to maturity, its $50 million term loan due November 2023, and to repay, at maturity, its $250 million of 4.10% Series mortgage bonds due April 2023, and for general corporate purposes. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy Mississippi [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in June 2028. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.44% on the drawn portion of the facility. As of September 30, 2023, amounts outstanding and capacity available under the $3.5 billion credit facility are: Capacity Borrowings Letters Capacity (In Millions) $3,500 $— $3 $3,497 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion. As of September 30, 2023, Entergy Corporation had $1,351.1 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2023 was 5.35%. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO. The following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have FERC- authorized short-term borrowing limits effective through April 2025. The FERC-authorized short-term borrowing limit for System Energy is effective through March 2025. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are intercompany borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Credit Facility (Entergy Corporation) In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Entergy Assets Management Operations, LLC (formerly Vermont Yankee Asset Retirement, LLC), Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2024. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2023, $139 million in cash borrowings were outstanding under the credit facility. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.47% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant. The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. As of September 30, 2023, Entergy Arkansas and Entergy Louisiana each has obtained financing authorization from the FERC that extend through April 2025 and System Energy has obtained financing authorization from the FERC that extends through March 2025 for issuances by their nuclear fuel company VIEs. Debt Issuances and Retirements (Entergy Arkansas) In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas used the proceeds, together with other funds, to repay, at maturity, its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes. In August 2023, Entergy Arkansas issued $300 million of 5.30% Series mortgage bonds due September 2033. Entergy Arkansas used the proceeds, together with other funds, to repay debt outstanding under its $150 million long-term revolving credit facility and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (Entergy Louisiana) In September 2023, Entergy Louisiana repaid, at maturity, $325 million of 4.05% Series mortgage bonds. (Entergy Mississippi) In May 2023, Entergy Mississippi issued $300 million of 5.0% Series mortgage bonds due September 2033. Entergy Mississippi used the proceeds, together with other funds, to repay, prior to maturity, its $250 million of 3.10% Series mortgage bonds due July 2023 and $50 million of its unsecured term loan due December 2023 and for general corporate purposes. (Entergy New Orleans) In May 2023, Entergy New Orleans amended its $70 million unsecured term loan credit agreement, to provide for additional borrowings of $15 million due June 2024. The amended term loan bears interest at a fixed interest rate of 6.25% payable on the unpaid principal amount, compared to the previous rate of 2.5%. Entergy New Orleans used the funds for general corporate purposes. In July 2023, Entergy New Orleans repaid, at maturity, $100 million of 3.9% Series mortgage bonds. (Entergy Texas) In August 2023, Entergy Texas issued $350 million of 5.80% Series mortgage bonds due September 2053. Entergy Texas used the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (System Energy) In March 2023, System Energy issued $325 million of 6.00% Series mortgage bonds due April 2028. System Energy used the proceeds, together with other funds, to repay, prior to maturity, its $50 million term loan due November 2023, and to repay, at maturity, its $250 million of 4.10% Series mortgage bonds due April 2023, and for general corporate purposes. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy New Orleans [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in June 2028. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.44% on the drawn portion of the facility. As of September 30, 2023, amounts outstanding and capacity available under the $3.5 billion credit facility are: Capacity Borrowings Letters Capacity (In Millions) $3,500 $— $3 $3,497 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion. As of September 30, 2023, Entergy Corporation had $1,351.1 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2023 was 5.35%. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO. The following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have FERC- authorized short-term borrowing limits effective through April 2025. The FERC-authorized short-term borrowing limit for System Energy is effective through March 2025. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are intercompany borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Credit Facility (Entergy Corporation) In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Entergy Assets Management Operations, LLC (formerly Vermont Yankee Asset Retirement, LLC), Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2024. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2023, $139 million in cash borrowings were outstanding under the credit facility. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.47% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant. The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. As of September 30, 2023, Entergy Arkansas and Entergy Louisiana each has obtained financing authorization from the FERC that extend through April 2025 and System Energy has obtained financing authorization from the FERC that extends through March 2025 for issuances by their nuclear fuel company VIEs. Debt Issuances and Retirements (Entergy Arkansas) In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas used the proceeds, together with other funds, to repay, at maturity, its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes. In August 2023, Entergy Arkansas issued $300 million of 5.30% Series mortgage bonds due September 2033. Entergy Arkansas used the proceeds, together with other funds, to repay debt outstanding under its $150 million long-term revolving credit facility and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (Entergy Louisiana) In September 2023, Entergy Louisiana repaid, at maturity, $325 million of 4.05% Series mortgage bonds. (Entergy Mississippi) In May 2023, Entergy Mississippi issued $300 million of 5.0% Series mortgage bonds due September 2033. Entergy Mississippi used the proceeds, together with other funds, to repay, prior to maturity, its $250 million of 3.10% Series mortgage bonds due July 2023 and $50 million of its unsecured term loan due December 2023 and for general corporate purposes. (Entergy New Orleans) In May 2023, Entergy New Orleans amended its $70 million unsecured term loan credit agreement, to provide for additional borrowings of $15 million due June 2024. The amended term loan bears interest at a fixed interest rate of 6.25% payable on the unpaid principal amount, compared to the previous rate of 2.5%. Entergy New Orleans used the funds for general corporate purposes. In July 2023, Entergy New Orleans repaid, at maturity, $100 million of 3.9% Series mortgage bonds. (Entergy Texas) In August 2023, Entergy Texas issued $350 million of 5.80% Series mortgage bonds due September 2053. Entergy Texas used the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (System Energy) In March 2023, System Energy issued $325 million of 6.00% Series mortgage bonds due April 2028. System Energy used the proceeds, together with other funds, to repay, prior to maturity, its $50 million term loan due November 2023, and to repay, at maturity, its $250 million of 4.10% Series mortgage bonds due April 2023, and for general corporate purposes. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy Texas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in June 2028. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.44% on the drawn portion of the facility. As of September 30, 2023, amounts outstanding and capacity available under the $3.5 billion credit facility are: Capacity Borrowings Letters Capacity (In Millions) $3,500 $— $3 $3,497 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion. As of September 30, 2023, Entergy Corporation had $1,351.1 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2023 was 5.35%. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO. The following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have FERC- authorized short-term borrowing limits effective through April 2025. The FERC-authorized short-term borrowing limit for System Energy is effective through March 2025. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are intercompany borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Credit Facility (Entergy Corporation) In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Entergy Assets Management Operations, LLC (formerly Vermont Yankee Asset Retirement, LLC), Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2024. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2023, $139 million in cash borrowings were outstanding under the credit facility. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.47% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant. The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. As of September 30, 2023, Entergy Arkansas and Entergy Louisiana each has obtained financing authorization from the FERC that extend through April 2025 and System Energy has obtained financing authorization from the FERC that extends through March 2025 for issuances by their nuclear fuel company VIEs. Debt Issuances and Retirements (Entergy Arkansas) In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas used the proceeds, together with other funds, to repay, at maturity, its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes. In August 2023, Entergy Arkansas issued $300 million of 5.30% Series mortgage bonds due September 2033. Entergy Arkansas used the proceeds, together with other funds, to repay debt outstanding under its $150 million long-term revolving credit facility and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (Entergy Louisiana) In September 2023, Entergy Louisiana repaid, at maturity, $325 million of 4.05% Series mortgage bonds. (Entergy Mississippi) In May 2023, Entergy Mississippi issued $300 million of 5.0% Series mortgage bonds due September 2033. Entergy Mississippi used the proceeds, together with other funds, to repay, prior to maturity, its $250 million of 3.10% Series mortgage bonds due July 2023 and $50 million of its unsecured term loan due December 2023 and for general corporate purposes. (Entergy New Orleans) In May 2023, Entergy New Orleans amended its $70 million unsecured term loan credit agreement, to provide for additional borrowings of $15 million due June 2024. The amended term loan bears interest at a fixed interest rate of 6.25% payable on the unpaid principal amount, compared to the previous rate of 2.5%. Entergy New Orleans used the funds for general corporate purposes. In July 2023, Entergy New Orleans repaid, at maturity, $100 million of 3.9% Series mortgage bonds. (Entergy Texas) In August 2023, Entergy Texas issued $350 million of 5.80% Series mortgage bonds due September 2053. Entergy Texas used the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (System Energy) In March 2023, System Energy issued $325 million of 6.00% Series mortgage bonds due April 2028. System Energy used the proceeds, together with other funds, to repay, prior to maturity, its $50 million term loan due November 2023, and to repay, at maturity, its $250 million of 4.10% Series mortgage bonds due April 2023, and for general corporate purposes. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
System Energy [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in June 2028. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.44% on the drawn portion of the facility. As of September 30, 2023, amounts outstanding and capacity available under the $3.5 billion credit facility are: Capacity Borrowings Letters Capacity (In Millions) $3,500 $— $3 $3,497 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion. As of September 30, 2023, Entergy Corporation had $1,351.1 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2023 was 5.35%. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO. The following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have FERC- authorized short-term borrowing limits effective through April 2025. The FERC-authorized short-term borrowing limit for System Energy is effective through March 2025. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are intercompany borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Credit Facility (Entergy Corporation) In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Entergy Assets Management Operations, LLC (formerly Vermont Yankee Asset Retirement, LLC), Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2024. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2023, $139 million in cash borrowings were outstanding under the credit facility. The weighted-average interest rate for the nine months ended September 30, 2023 was 6.47% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant. The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. As of September 30, 2023, Entergy Arkansas and Entergy Louisiana each has obtained financing authorization from the FERC that extend through April 2025 and System Energy has obtained financing authorization from the FERC that extends through March 2025 for issuances by their nuclear fuel company VIEs. Debt Issuances and Retirements (Entergy Arkansas) In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas used the proceeds, together with other funds, to repay, at maturity, its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes. In August 2023, Entergy Arkansas issued $300 million of 5.30% Series mortgage bonds due September 2033. Entergy Arkansas used the proceeds, together with other funds, to repay debt outstanding under its $150 million long-term revolving credit facility and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (Entergy Louisiana) In September 2023, Entergy Louisiana repaid, at maturity, $325 million of 4.05% Series mortgage bonds. (Entergy Mississippi) In May 2023, Entergy Mississippi issued $300 million of 5.0% Series mortgage bonds due September 2033. Entergy Mississippi used the proceeds, together with other funds, to repay, prior to maturity, its $250 million of 3.10% Series mortgage bonds due July 2023 and $50 million of its unsecured term loan due December 2023 and for general corporate purposes. (Entergy New Orleans) In May 2023, Entergy New Orleans amended its $70 million unsecured term loan credit agreement, to provide for additional borrowings of $15 million due June 2024. The amended term loan bears interest at a fixed interest rate of 6.25% payable on the unpaid principal amount, compared to the previous rate of 2.5%. Entergy New Orleans used the funds for general corporate purposes. In July 2023, Entergy New Orleans repaid, at maturity, $100 million of 3.9% Series mortgage bonds. (Entergy Texas) In August 2023, Entergy Texas issued $350 million of 5.80% Series mortgage bonds due September 2053. Entergy Texas used the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and for general corporate purposes, including the repayment of borrowings from the Entergy System money pool. (System Energy) In March 2023, System Energy issued $325 million of 6.00% Series mortgage bonds due April 2028. System Energy used the proceeds, together with other funds, to repay, prior to maturity, its $50 million term loan due November 2023, and to repay, at maturity, its $250 million of 4.10% Series mortgage bonds due April 2023, and for general corporate purposes. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2023 | |
Entergy Corporation [Member] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION (Entergy Corporation) Entergy grants stock and stock-based awards, which are described more fully in Note 12 to the financial statements in the Form 10-K. Awards under Entergy’s plans generally vest over three years. Stock Options Entergy granted options on 281,874 shares of its common stock under the 2019 Omnibus Incentive Plan during the first quarter 2023 with a fair value of $20.07 per option. As of September 30, 2023, there were options on 2,950,625 shares of common stock outstanding with a weighted-average exercise price of $97.49. The intrinsic value, which has no effect on net income, of the outstanding stock options is calculated by the positive difference between the weighted-average exercise price of the stock options granted and Entergy Corporation’s common stock price as of September 30, 2023. The aggregate intrinsic value of the stock options outstanding as of September 30, 2023 was $16.6 million. The following table includes financial information for outstanding stock options for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Compensation expense included in Entergy’s consolidated net income $1.1 $0.9 Tax benefit recognized in Entergy’s consolidated net income $0.3 $0.2 Compensation cost capitalized as part of fixed assets and materials and supplies $0.5 $0.4 The following table includes financial information for outstanding stock options for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Compensation expense included in Entergy’s consolidated net income $3.2 $3.2 Tax benefit recognized in Entergy’s consolidated net income $0.9 $0.8 Compensation cost capitalized as part of fixed assets and materials and supplies $1.6 $1.2 Other Equity Awards In January 2023 the Board approved and Entergy granted 345,983 restricted stock awards and 143,212 long-term incentive awards under the 2019 Omnibus Incentive Plan. The restricted stock awards were made effective on January 26, 2023 and were valued at $108.47 per share, which was the closing price of Entergy’s common stock on that date. Shares of restricted stock have the same dividend and voting rights as other common stock, are considered issued and outstanding shares of Entergy upon vesting, and are expensed ratably over the three-year vesting period. One-third of the restricted stock awards and accrued dividends will vest upon each anniversary of the grant date. In addition, long-term incentive awards were also granted in the form of performance units that represent the value of, and are settled with, one share of Entergy Corporation common stock at the end of the three-year performance period, plus dividends accrued during the performance period on the number of performance units earned. To emphasize the importance of strong cash generation for the long-term health of its business, a credit measure – adjusted funds from operations/debt ratio – was selected as one of the performance measures for the 2023-2025 performance period. Performance will be measured based eighty percent on relative total shareholder return and twenty percent on the credit measure. The performance units were granted on January 26, 2023 and eighty percent were valued at $130.65 per share based on various factors, primarily market conditions; and twenty percent were valued at $108.47 per share, the closing price of Entergy’s common stock on that date. Performance units have the same dividend rights as shares of Entergy common stock and are considered issued and outstanding shares of Entergy upon vesting. Performance units are expensed ratably over the three-year vesting period and compensation cost for the portion of the award based on cumulative adjusted earnings per share will be adjusted based on the number of units that ultimately vest. See Note 12 to the financial statements in the Form 10-K for a description of the Long-Term Performance Unit Program. The following table includes financial information for other outstanding equity awards for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Compensation expense included in Entergy’s consolidated net income $9.3 $9.1 Tax benefit recognized in Entergy’s consolidated net income $2.4 $2.3 Compensation cost capitalized as part of fixed assets and materials and supplies $4.2 $3.9 The following table includes financial information for other outstanding equity awards for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Compensation expense included in Entergy’s consolidated net income $27.1 $31.1 Tax benefit recognized in Entergy’s consolidated net income $7.0 $7.9 Compensation cost capitalized as part of fixed assets and materials and supplies $11.8 $12.6 |
Retirement And Other Postretire
Retirement And Other Postretirement Benefits | 9 Months Ended |
Sep. 30, 2023 | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $25,302 $33,845 Interest cost on projected benefit obligation 73,850 60,734 Expected return on assets (96,775) (100,203) Amortization of net loss 20,204 42,367 Settlement charges 6,914 125,548 Net pension costs $29,495 $162,291 Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $76,346 $108,482 Interest cost on projected benefit obligation 223,584 164,529 Expected return on assets (290,660) (306,895) Amortization of net loss 63,858 159,359 Settlement charges 152,588 148,201 Net pension costs $225,716 $273,676 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 Non-Qualified Net Pension Cost Entergy recognized $21.8 million and $5.9 million in pension cost for its non-qualified pension plans in the third quarters of 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2023 and 2022, respectively, were settlement charges of $18 million and $1.4 million related to the payment of lump sum benefits out of the plans. Entergy recognized $39.8 million and $23.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $27.3 million and $9.2 million related to the payment of lump sum benefits out of the plans. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 Reflected in Entergy Texas’s non-qualified pension costs in the third quarter of 2022 were settlement charges of $886 thousand related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2023 were settlement charges of $379 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $453 thousand and $2 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2022 were settlement charges of $1 million related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefits Cost (Income) Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $3,664 $6,184 Interest cost on accumulated postretirement benefit obligation (APBO) 10,568 6,827 Expected return on assets (9,183) (10,855) Amortization of prior service credit (5,640) (6,388) Amortization of net (gain) loss (2,862) 1,083 Net other postretirement benefits income ($3,453) ($3,149) Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $10,992 $18,552 Interest cost on accumulated postretirement benefit obligation (APBO) 31,704 20,481 Expected return on assets (27,549) (32,565) Amortization of prior service credit (16,920) (19,164) Amortization of net (gain) loss (8,586) 3,249 Net other postretirement benefits income ($10,359) ($9,447) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $3,509 ($113) $3,396 Amortization of net gain (loss) (1,064) 2,898 (134) 1,700 Settlement loss (490) — (1,429) (1,919) ($1,554) $6,407 ($1,676) $3,177 Entergy Louisiana Amortization of prior service credit $— $951 $— $951 Amortization of net gain (loss) (190) 1,764 — 1,574 Settlement loss (22) — — (22) ($212) $2,715 $— $2,503 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (3,976) (596) (298) (4,870) Settlement loss (14,263) — (76) (14,339) ($18,239) $3,418 ($551) ($15,372) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (407) 186 (1) (222) Settlement loss (1,340) — — (1,340) ($1,747) $1,344 ($1) ($404) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,529 ($338) $10,191 Amortization of net gain (loss) (3,208) 8,693 (491) 4,994 Settlement loss (7,446) — (2,962) (10,408) ($10,654) $19,222 ($3,791) $4,777 Entergy Louisiana Amortization of prior service credit $— $2,853 $— $2,853 Amortization of net gain (loss) (588) 5,292 (1) 4,703 Settlement loss (1,551) — — (1,551) ($2,139) $8,145 ($1) $6,005 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $12,042 ($531) $11,511 Amortization of net loss (26,921) (1,788) (1,065) (29,774) Settlement loss (14,441) — (1,225) (15,666) ($41,362) $10,254 ($2,821) ($33,929) Entergy Louisiana Amortization of prior service credit $— $3,474 $— $3,474 Amortization of net gain (loss) (1,404) 558 (3) (849) Settlement loss (1,518) — — (1,518) ($2,922) $4,032 ($3) $1,107 Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Costs Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded for 2020 and 2021 were included in the base rate case that was filed with the PUCT in July 2022, and amortization of that amount began in 2023 when interim rates became effective. The reserve amounts recorded for 2022 and through September 2023 will be evaluated in the next scheduled PUCT rate case and an amortization period will be determined by the PUCT at that time. At September 30, 2023, the balance in this reserve was approximately $39.3 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $267 million to its qualified pension plans in 2023. As of September 30, 2023, Entergy had contributed $267 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy Arkansas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $25,302 $33,845 Interest cost on projected benefit obligation 73,850 60,734 Expected return on assets (96,775) (100,203) Amortization of net loss 20,204 42,367 Settlement charges 6,914 125,548 Net pension costs $29,495 $162,291 Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $76,346 $108,482 Interest cost on projected benefit obligation 223,584 164,529 Expected return on assets (290,660) (306,895) Amortization of net loss 63,858 159,359 Settlement charges 152,588 148,201 Net pension costs $225,716 $273,676 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 Non-Qualified Net Pension Cost Entergy recognized $21.8 million and $5.9 million in pension cost for its non-qualified pension plans in the third quarters of 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2023 and 2022, respectively, were settlement charges of $18 million and $1.4 million related to the payment of lump sum benefits out of the plans. Entergy recognized $39.8 million and $23.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $27.3 million and $9.2 million related to the payment of lump sum benefits out of the plans. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 Reflected in Entergy Texas’s non-qualified pension costs in the third quarter of 2022 were settlement charges of $886 thousand related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2023 were settlement charges of $379 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $453 thousand and $2 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2022 were settlement charges of $1 million related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefits Cost (Income) Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $3,664 $6,184 Interest cost on accumulated postretirement benefit obligation (APBO) 10,568 6,827 Expected return on assets (9,183) (10,855) Amortization of prior service credit (5,640) (6,388) Amortization of net (gain) loss (2,862) 1,083 Net other postretirement benefits income ($3,453) ($3,149) Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $10,992 $18,552 Interest cost on accumulated postretirement benefit obligation (APBO) 31,704 20,481 Expected return on assets (27,549) (32,565) Amortization of prior service credit (16,920) (19,164) Amortization of net (gain) loss (8,586) 3,249 Net other postretirement benefits income ($10,359) ($9,447) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $3,509 ($113) $3,396 Amortization of net gain (loss) (1,064) 2,898 (134) 1,700 Settlement loss (490) — (1,429) (1,919) ($1,554) $6,407 ($1,676) $3,177 Entergy Louisiana Amortization of prior service credit $— $951 $— $951 Amortization of net gain (loss) (190) 1,764 — 1,574 Settlement loss (22) — — (22) ($212) $2,715 $— $2,503 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (3,976) (596) (298) (4,870) Settlement loss (14,263) — (76) (14,339) ($18,239) $3,418 ($551) ($15,372) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (407) 186 (1) (222) Settlement loss (1,340) — — (1,340) ($1,747) $1,344 ($1) ($404) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,529 ($338) $10,191 Amortization of net gain (loss) (3,208) 8,693 (491) 4,994 Settlement loss (7,446) — (2,962) (10,408) ($10,654) $19,222 ($3,791) $4,777 Entergy Louisiana Amortization of prior service credit $— $2,853 $— $2,853 Amortization of net gain (loss) (588) 5,292 (1) 4,703 Settlement loss (1,551) — — (1,551) ($2,139) $8,145 ($1) $6,005 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $12,042 ($531) $11,511 Amortization of net loss (26,921) (1,788) (1,065) (29,774) Settlement loss (14,441) — (1,225) (15,666) ($41,362) $10,254 ($2,821) ($33,929) Entergy Louisiana Amortization of prior service credit $— $3,474 $— $3,474 Amortization of net gain (loss) (1,404) 558 (3) (849) Settlement loss (1,518) — — (1,518) ($2,922) $4,032 ($3) $1,107 Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Costs Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded for 2020 and 2021 were included in the base rate case that was filed with the PUCT in July 2022, and amortization of that amount began in 2023 when interim rates became effective. The reserve amounts recorded for 2022 and through September 2023 will be evaluated in the next scheduled PUCT rate case and an amortization period will be determined by the PUCT at that time. At September 30, 2023, the balance in this reserve was approximately $39.3 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $267 million to its qualified pension plans in 2023. As of September 30, 2023, Entergy had contributed $267 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy Louisiana [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $25,302 $33,845 Interest cost on projected benefit obligation 73,850 60,734 Expected return on assets (96,775) (100,203) Amortization of net loss 20,204 42,367 Settlement charges 6,914 125,548 Net pension costs $29,495 $162,291 Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $76,346 $108,482 Interest cost on projected benefit obligation 223,584 164,529 Expected return on assets (290,660) (306,895) Amortization of net loss 63,858 159,359 Settlement charges 152,588 148,201 Net pension costs $225,716 $273,676 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 Non-Qualified Net Pension Cost Entergy recognized $21.8 million and $5.9 million in pension cost for its non-qualified pension plans in the third quarters of 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2023 and 2022, respectively, were settlement charges of $18 million and $1.4 million related to the payment of lump sum benefits out of the plans. Entergy recognized $39.8 million and $23.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $27.3 million and $9.2 million related to the payment of lump sum benefits out of the plans. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 Reflected in Entergy Texas’s non-qualified pension costs in the third quarter of 2022 were settlement charges of $886 thousand related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2023 were settlement charges of $379 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $453 thousand and $2 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2022 were settlement charges of $1 million related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefits Cost (Income) Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $3,664 $6,184 Interest cost on accumulated postretirement benefit obligation (APBO) 10,568 6,827 Expected return on assets (9,183) (10,855) Amortization of prior service credit (5,640) (6,388) Amortization of net (gain) loss (2,862) 1,083 Net other postretirement benefits income ($3,453) ($3,149) Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $10,992 $18,552 Interest cost on accumulated postretirement benefit obligation (APBO) 31,704 20,481 Expected return on assets (27,549) (32,565) Amortization of prior service credit (16,920) (19,164) Amortization of net (gain) loss (8,586) 3,249 Net other postretirement benefits income ($10,359) ($9,447) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $3,509 ($113) $3,396 Amortization of net gain (loss) (1,064) 2,898 (134) 1,700 Settlement loss (490) — (1,429) (1,919) ($1,554) $6,407 ($1,676) $3,177 Entergy Louisiana Amortization of prior service credit $— $951 $— $951 Amortization of net gain (loss) (190) 1,764 — 1,574 Settlement loss (22) — — (22) ($212) $2,715 $— $2,503 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (3,976) (596) (298) (4,870) Settlement loss (14,263) — (76) (14,339) ($18,239) $3,418 ($551) ($15,372) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (407) 186 (1) (222) Settlement loss (1,340) — — (1,340) ($1,747) $1,344 ($1) ($404) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,529 ($338) $10,191 Amortization of net gain (loss) (3,208) 8,693 (491) 4,994 Settlement loss (7,446) — (2,962) (10,408) ($10,654) $19,222 ($3,791) $4,777 Entergy Louisiana Amortization of prior service credit $— $2,853 $— $2,853 Amortization of net gain (loss) (588) 5,292 (1) 4,703 Settlement loss (1,551) — — (1,551) ($2,139) $8,145 ($1) $6,005 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $12,042 ($531) $11,511 Amortization of net loss (26,921) (1,788) (1,065) (29,774) Settlement loss (14,441) — (1,225) (15,666) ($41,362) $10,254 ($2,821) ($33,929) Entergy Louisiana Amortization of prior service credit $— $3,474 $— $3,474 Amortization of net gain (loss) (1,404) 558 (3) (849) Settlement loss (1,518) — — (1,518) ($2,922) $4,032 ($3) $1,107 Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Costs Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded for 2020 and 2021 were included in the base rate case that was filed with the PUCT in July 2022, and amortization of that amount began in 2023 when interim rates became effective. The reserve amounts recorded for 2022 and through September 2023 will be evaluated in the next scheduled PUCT rate case and an amortization period will be determined by the PUCT at that time. At September 30, 2023, the balance in this reserve was approximately $39.3 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $267 million to its qualified pension plans in 2023. As of September 30, 2023, Entergy had contributed $267 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy Mississippi [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $25,302 $33,845 Interest cost on projected benefit obligation 73,850 60,734 Expected return on assets (96,775) (100,203) Amortization of net loss 20,204 42,367 Settlement charges 6,914 125,548 Net pension costs $29,495 $162,291 Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $76,346 $108,482 Interest cost on projected benefit obligation 223,584 164,529 Expected return on assets (290,660) (306,895) Amortization of net loss 63,858 159,359 Settlement charges 152,588 148,201 Net pension costs $225,716 $273,676 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 Non-Qualified Net Pension Cost Entergy recognized $21.8 million and $5.9 million in pension cost for its non-qualified pension plans in the third quarters of 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2023 and 2022, respectively, were settlement charges of $18 million and $1.4 million related to the payment of lump sum benefits out of the plans. Entergy recognized $39.8 million and $23.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $27.3 million and $9.2 million related to the payment of lump sum benefits out of the plans. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 Reflected in Entergy Texas’s non-qualified pension costs in the third quarter of 2022 were settlement charges of $886 thousand related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2023 were settlement charges of $379 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $453 thousand and $2 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2022 were settlement charges of $1 million related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefits Cost (Income) Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $3,664 $6,184 Interest cost on accumulated postretirement benefit obligation (APBO) 10,568 6,827 Expected return on assets (9,183) (10,855) Amortization of prior service credit (5,640) (6,388) Amortization of net (gain) loss (2,862) 1,083 Net other postretirement benefits income ($3,453) ($3,149) Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $10,992 $18,552 Interest cost on accumulated postretirement benefit obligation (APBO) 31,704 20,481 Expected return on assets (27,549) (32,565) Amortization of prior service credit (16,920) (19,164) Amortization of net (gain) loss (8,586) 3,249 Net other postretirement benefits income ($10,359) ($9,447) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $3,509 ($113) $3,396 Amortization of net gain (loss) (1,064) 2,898 (134) 1,700 Settlement loss (490) — (1,429) (1,919) ($1,554) $6,407 ($1,676) $3,177 Entergy Louisiana Amortization of prior service credit $— $951 $— $951 Amortization of net gain (loss) (190) 1,764 — 1,574 Settlement loss (22) — — (22) ($212) $2,715 $— $2,503 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (3,976) (596) (298) (4,870) Settlement loss (14,263) — (76) (14,339) ($18,239) $3,418 ($551) ($15,372) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (407) 186 (1) (222) Settlement loss (1,340) — — (1,340) ($1,747) $1,344 ($1) ($404) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,529 ($338) $10,191 Amortization of net gain (loss) (3,208) 8,693 (491) 4,994 Settlement loss (7,446) — (2,962) (10,408) ($10,654) $19,222 ($3,791) $4,777 Entergy Louisiana Amortization of prior service credit $— $2,853 $— $2,853 Amortization of net gain (loss) (588) 5,292 (1) 4,703 Settlement loss (1,551) — — (1,551) ($2,139) $8,145 ($1) $6,005 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $12,042 ($531) $11,511 Amortization of net loss (26,921) (1,788) (1,065) (29,774) Settlement loss (14,441) — (1,225) (15,666) ($41,362) $10,254 ($2,821) ($33,929) Entergy Louisiana Amortization of prior service credit $— $3,474 $— $3,474 Amortization of net gain (loss) (1,404) 558 (3) (849) Settlement loss (1,518) — — (1,518) ($2,922) $4,032 ($3) $1,107 Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Costs Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded for 2020 and 2021 were included in the base rate case that was filed with the PUCT in July 2022, and amortization of that amount began in 2023 when interim rates became effective. The reserve amounts recorded for 2022 and through September 2023 will be evaluated in the next scheduled PUCT rate case and an amortization period will be determined by the PUCT at that time. At September 30, 2023, the balance in this reserve was approximately $39.3 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $267 million to its qualified pension plans in 2023. As of September 30, 2023, Entergy had contributed $267 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy New Orleans [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $25,302 $33,845 Interest cost on projected benefit obligation 73,850 60,734 Expected return on assets (96,775) (100,203) Amortization of net loss 20,204 42,367 Settlement charges 6,914 125,548 Net pension costs $29,495 $162,291 Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $76,346 $108,482 Interest cost on projected benefit obligation 223,584 164,529 Expected return on assets (290,660) (306,895) Amortization of net loss 63,858 159,359 Settlement charges 152,588 148,201 Net pension costs $225,716 $273,676 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 Non-Qualified Net Pension Cost Entergy recognized $21.8 million and $5.9 million in pension cost for its non-qualified pension plans in the third quarters of 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2023 and 2022, respectively, were settlement charges of $18 million and $1.4 million related to the payment of lump sum benefits out of the plans. Entergy recognized $39.8 million and $23.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $27.3 million and $9.2 million related to the payment of lump sum benefits out of the plans. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 Reflected in Entergy Texas’s non-qualified pension costs in the third quarter of 2022 were settlement charges of $886 thousand related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2023 were settlement charges of $379 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $453 thousand and $2 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2022 were settlement charges of $1 million related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefits Cost (Income) Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $3,664 $6,184 Interest cost on accumulated postretirement benefit obligation (APBO) 10,568 6,827 Expected return on assets (9,183) (10,855) Amortization of prior service credit (5,640) (6,388) Amortization of net (gain) loss (2,862) 1,083 Net other postretirement benefits income ($3,453) ($3,149) Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $10,992 $18,552 Interest cost on accumulated postretirement benefit obligation (APBO) 31,704 20,481 Expected return on assets (27,549) (32,565) Amortization of prior service credit (16,920) (19,164) Amortization of net (gain) loss (8,586) 3,249 Net other postretirement benefits income ($10,359) ($9,447) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $3,509 ($113) $3,396 Amortization of net gain (loss) (1,064) 2,898 (134) 1,700 Settlement loss (490) — (1,429) (1,919) ($1,554) $6,407 ($1,676) $3,177 Entergy Louisiana Amortization of prior service credit $— $951 $— $951 Amortization of net gain (loss) (190) 1,764 — 1,574 Settlement loss (22) — — (22) ($212) $2,715 $— $2,503 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (3,976) (596) (298) (4,870) Settlement loss (14,263) — (76) (14,339) ($18,239) $3,418 ($551) ($15,372) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (407) 186 (1) (222) Settlement loss (1,340) — — (1,340) ($1,747) $1,344 ($1) ($404) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,529 ($338) $10,191 Amortization of net gain (loss) (3,208) 8,693 (491) 4,994 Settlement loss (7,446) — (2,962) (10,408) ($10,654) $19,222 ($3,791) $4,777 Entergy Louisiana Amortization of prior service credit $— $2,853 $— $2,853 Amortization of net gain (loss) (588) 5,292 (1) 4,703 Settlement loss (1,551) — — (1,551) ($2,139) $8,145 ($1) $6,005 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $12,042 ($531) $11,511 Amortization of net loss (26,921) (1,788) (1,065) (29,774) Settlement loss (14,441) — (1,225) (15,666) ($41,362) $10,254 ($2,821) ($33,929) Entergy Louisiana Amortization of prior service credit $— $3,474 $— $3,474 Amortization of net gain (loss) (1,404) 558 (3) (849) Settlement loss (1,518) — — (1,518) ($2,922) $4,032 ($3) $1,107 Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Costs Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded for 2020 and 2021 were included in the base rate case that was filed with the PUCT in July 2022, and amortization of that amount began in 2023 when interim rates became effective. The reserve amounts recorded for 2022 and through September 2023 will be evaluated in the next scheduled PUCT rate case and an amortization period will be determined by the PUCT at that time. At September 30, 2023, the balance in this reserve was approximately $39.3 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $267 million to its qualified pension plans in 2023. As of September 30, 2023, Entergy had contributed $267 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy Texas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $25,302 $33,845 Interest cost on projected benefit obligation 73,850 60,734 Expected return on assets (96,775) (100,203) Amortization of net loss 20,204 42,367 Settlement charges 6,914 125,548 Net pension costs $29,495 $162,291 Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $76,346 $108,482 Interest cost on projected benefit obligation 223,584 164,529 Expected return on assets (290,660) (306,895) Amortization of net loss 63,858 159,359 Settlement charges 152,588 148,201 Net pension costs $225,716 $273,676 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 Non-Qualified Net Pension Cost Entergy recognized $21.8 million and $5.9 million in pension cost for its non-qualified pension plans in the third quarters of 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2023 and 2022, respectively, were settlement charges of $18 million and $1.4 million related to the payment of lump sum benefits out of the plans. Entergy recognized $39.8 million and $23.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $27.3 million and $9.2 million related to the payment of lump sum benefits out of the plans. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 Reflected in Entergy Texas’s non-qualified pension costs in the third quarter of 2022 were settlement charges of $886 thousand related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2023 were settlement charges of $379 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $453 thousand and $2 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2022 were settlement charges of $1 million related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefits Cost (Income) Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $3,664 $6,184 Interest cost on accumulated postretirement benefit obligation (APBO) 10,568 6,827 Expected return on assets (9,183) (10,855) Amortization of prior service credit (5,640) (6,388) Amortization of net (gain) loss (2,862) 1,083 Net other postretirement benefits income ($3,453) ($3,149) Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $10,992 $18,552 Interest cost on accumulated postretirement benefit obligation (APBO) 31,704 20,481 Expected return on assets (27,549) (32,565) Amortization of prior service credit (16,920) (19,164) Amortization of net (gain) loss (8,586) 3,249 Net other postretirement benefits income ($10,359) ($9,447) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $3,509 ($113) $3,396 Amortization of net gain (loss) (1,064) 2,898 (134) 1,700 Settlement loss (490) — (1,429) (1,919) ($1,554) $6,407 ($1,676) $3,177 Entergy Louisiana Amortization of prior service credit $— $951 $— $951 Amortization of net gain (loss) (190) 1,764 — 1,574 Settlement loss (22) — — (22) ($212) $2,715 $— $2,503 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (3,976) (596) (298) (4,870) Settlement loss (14,263) — (76) (14,339) ($18,239) $3,418 ($551) ($15,372) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (407) 186 (1) (222) Settlement loss (1,340) — — (1,340) ($1,747) $1,344 ($1) ($404) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,529 ($338) $10,191 Amortization of net gain (loss) (3,208) 8,693 (491) 4,994 Settlement loss (7,446) — (2,962) (10,408) ($10,654) $19,222 ($3,791) $4,777 Entergy Louisiana Amortization of prior service credit $— $2,853 $— $2,853 Amortization of net gain (loss) (588) 5,292 (1) 4,703 Settlement loss (1,551) — — (1,551) ($2,139) $8,145 ($1) $6,005 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $12,042 ($531) $11,511 Amortization of net loss (26,921) (1,788) (1,065) (29,774) Settlement loss (14,441) — (1,225) (15,666) ($41,362) $10,254 ($2,821) ($33,929) Entergy Louisiana Amortization of prior service credit $— $3,474 $— $3,474 Amortization of net gain (loss) (1,404) 558 (3) (849) Settlement loss (1,518) — — (1,518) ($2,922) $4,032 ($3) $1,107 Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Costs Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded for 2020 and 2021 were included in the base rate case that was filed with the PUCT in July 2022, and amortization of that amount began in 2023 when interim rates became effective. The reserve amounts recorded for 2022 and through September 2023 will be evaluated in the next scheduled PUCT rate case and an amortization period will be determined by the PUCT at that time. At September 30, 2023, the balance in this reserve was approximately $39.3 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $267 million to its qualified pension plans in 2023. As of September 30, 2023, Entergy had contributed $267 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
System Energy [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $25,302 $33,845 Interest cost on projected benefit obligation 73,850 60,734 Expected return on assets (96,775) (100,203) Amortization of net loss 20,204 42,367 Settlement charges 6,914 125,548 Net pension costs $29,495 $162,291 Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $76,346 $108,482 Interest cost on projected benefit obligation 223,584 164,529 Expected return on assets (290,660) (306,895) Amortization of net loss 63,858 159,359 Settlement charges 152,588 148,201 Net pension costs $225,716 $273,676 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 Non-Qualified Net Pension Cost Entergy recognized $21.8 million and $5.9 million in pension cost for its non-qualified pension plans in the third quarters of 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2023 and 2022, respectively, were settlement charges of $18 million and $1.4 million related to the payment of lump sum benefits out of the plans. Entergy recognized $39.8 million and $23.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $27.3 million and $9.2 million related to the payment of lump sum benefits out of the plans. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 Reflected in Entergy Texas’s non-qualified pension costs in the third quarter of 2022 were settlement charges of $886 thousand related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2023 were settlement charges of $379 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2023 and 2022, respectively, were settlement charges of $453 thousand and $2 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2022 were settlement charges of $1 million related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefits Cost (Income) Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $3,664 $6,184 Interest cost on accumulated postretirement benefit obligation (APBO) 10,568 6,827 Expected return on assets (9,183) (10,855) Amortization of prior service credit (5,640) (6,388) Amortization of net (gain) loss (2,862) 1,083 Net other postretirement benefits income ($3,453) ($3,149) Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $10,992 $18,552 Interest cost on accumulated postretirement benefit obligation (APBO) 31,704 20,481 Expected return on assets (27,549) (32,565) Amortization of prior service credit (16,920) (19,164) Amortization of net (gain) loss (8,586) 3,249 Net other postretirement benefits income ($10,359) ($9,447) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $3,509 ($113) $3,396 Amortization of net gain (loss) (1,064) 2,898 (134) 1,700 Settlement loss (490) — (1,429) (1,919) ($1,554) $6,407 ($1,676) $3,177 Entergy Louisiana Amortization of prior service credit $— $951 $— $951 Amortization of net gain (loss) (190) 1,764 — 1,574 Settlement loss (22) — — (22) ($212) $2,715 $— $2,503 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (3,976) (596) (298) (4,870) Settlement loss (14,263) — (76) (14,339) ($18,239) $3,418 ($551) ($15,372) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (407) 186 (1) (222) Settlement loss (1,340) — — (1,340) ($1,747) $1,344 ($1) ($404) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,529 ($338) $10,191 Amortization of net gain (loss) (3,208) 8,693 (491) 4,994 Settlement loss (7,446) — (2,962) (10,408) ($10,654) $19,222 ($3,791) $4,777 Entergy Louisiana Amortization of prior service credit $— $2,853 $— $2,853 Amortization of net gain (loss) (588) 5,292 (1) 4,703 Settlement loss (1,551) — — (1,551) ($2,139) $8,145 ($1) $6,005 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $12,042 ($531) $11,511 Amortization of net loss (26,921) (1,788) (1,065) (29,774) Settlement loss (14,441) — (1,225) (15,666) ($41,362) $10,254 ($2,821) ($33,929) Entergy Louisiana Amortization of prior service credit $— $3,474 $— $3,474 Amortization of net gain (loss) (1,404) 558 (3) (849) Settlement loss (1,518) — — (1,518) ($2,922) $4,032 ($3) $1,107 Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Costs Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded for 2020 and 2021 were included in the base rate case that was filed with the PUCT in July 2022, and amortization of that amount began in 2023 when interim rates became effective. The reserve amounts recorded for 2022 and through September 2023 will be evaluated in the next scheduled PUCT rate case and an amortization period will be determined by the PUCT at that time. At September 30, 2023, the balance in this reserve was approximately $39.3 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $267 million to its qualified pension plans in 2023. As of September 30, 2023, Entergy had contributed $267 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Business Segment Information
Business Segment Information | 9 Months Ended |
Sep. 30, 2023 | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy has a single reportable segment, Utility, which includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and operation of a small natural gas distribution business in portions of Louisiana. The Utility segment reflects management’s primary basis of organization with a predominant focus on its utility operations in the Gulf South. Parent & Other includes the parent company, Entergy Corporation, and other business activity, including Entergy’s non-utility operations business which owns interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers and also provides decommissioning services to nuclear power plants owned by non-affiliated entities in the United States. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy completed its multi-year strategy to exit the merchant nuclear power business in 2022 and upon completion of all transition activities, effective January 1, 2023, Entergy Wholesale Commodities is no longer a reportable segment. See Note 13 and Note 14 to the financial statements in the Form 10-K for discussion of the asset impairments and restructuring charges related to the decision to exit the merchant nuclear power business. Remaining business activity previously reported under Entergy Wholesale Commodities is now included under Parent & Other. Historical segment financial information presented herein has been restated for the third quarter 2022 and the nine months ended September 30, 2022 to reflect the change in reportable segments. The change in reportable segments had no effect on Entergy’s consolidated financial statements or historical segment financial information for the Utility reportable segment. Entergy’s segment financial information for the third quarters of 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $3,559,240 $36,302 ($20) $3,595,522 Income taxes $225,989 $1,008 $— $226,997 Consolidated net income (loss) $754,036 ($3,304) ($81,018) $669,714 2022 Operating revenues $4,156,616 $62,009 ($10) $4,218,615 Income taxes $178,088 $6,024 $— $184,112 Consolidated net income (loss) $667,162 ($55,870) ($55,410) $555,882 Entergy’s segment financial information for the nine months ended September 30, 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $9,325,977 $96,661 ($31) $9,422,607 Income taxes $304,352 ($21,534) $— $282,818 Consolidated net income (loss) $1,666,701 ($74,257) ($218,418) $1,374,026 Total assets as of September 30, 2023 $64,924,653 $839,217 ($5,211,723) $60,552,147 2022 Operating revenues $10,191,041 $300,720 ($24) $10,491,737 Income taxes ($118,257) $9,223 $— ($109,034) Consolidated net income (loss) $1,166,866 ($36,772) ($130,608) $999,486 Total assets as of December 31, 2022 $61,399,243 $884,442 ($3,688,494) $58,595,191 Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations are managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. Management allocates resources and assesses financial performance on a consolidated basis. |
Entergy Arkansas [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy has a single reportable segment, Utility, which includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and operation of a small natural gas distribution business in portions of Louisiana. The Utility segment reflects management’s primary basis of organization with a predominant focus on its utility operations in the Gulf South. Parent & Other includes the parent company, Entergy Corporation, and other business activity, including Entergy’s non-utility operations business which owns interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers and also provides decommissioning services to nuclear power plants owned by non-affiliated entities in the United States. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy completed its multi-year strategy to exit the merchant nuclear power business in 2022 and upon completion of all transition activities, effective January 1, 2023, Entergy Wholesale Commodities is no longer a reportable segment. See Note 13 and Note 14 to the financial statements in the Form 10-K for discussion of the asset impairments and restructuring charges related to the decision to exit the merchant nuclear power business. Remaining business activity previously reported under Entergy Wholesale Commodities is now included under Parent & Other. Historical segment financial information presented herein has been restated for the third quarter 2022 and the nine months ended September 30, 2022 to reflect the change in reportable segments. The change in reportable segments had no effect on Entergy’s consolidated financial statements or historical segment financial information for the Utility reportable segment. Entergy’s segment financial information for the third quarters of 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $3,559,240 $36,302 ($20) $3,595,522 Income taxes $225,989 $1,008 $— $226,997 Consolidated net income (loss) $754,036 ($3,304) ($81,018) $669,714 2022 Operating revenues $4,156,616 $62,009 ($10) $4,218,615 Income taxes $178,088 $6,024 $— $184,112 Consolidated net income (loss) $667,162 ($55,870) ($55,410) $555,882 Entergy’s segment financial information for the nine months ended September 30, 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $9,325,977 $96,661 ($31) $9,422,607 Income taxes $304,352 ($21,534) $— $282,818 Consolidated net income (loss) $1,666,701 ($74,257) ($218,418) $1,374,026 Total assets as of September 30, 2023 $64,924,653 $839,217 ($5,211,723) $60,552,147 2022 Operating revenues $10,191,041 $300,720 ($24) $10,491,737 Income taxes ($118,257) $9,223 $— ($109,034) Consolidated net income (loss) $1,166,866 ($36,772) ($130,608) $999,486 Total assets as of December 31, 2022 $61,399,243 $884,442 ($3,688,494) $58,595,191 Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations are managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. Management allocates resources and assesses financial performance on a consolidated basis. |
Entergy Louisiana [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy has a single reportable segment, Utility, which includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and operation of a small natural gas distribution business in portions of Louisiana. The Utility segment reflects management’s primary basis of organization with a predominant focus on its utility operations in the Gulf South. Parent & Other includes the parent company, Entergy Corporation, and other business activity, including Entergy’s non-utility operations business which owns interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers and also provides decommissioning services to nuclear power plants owned by non-affiliated entities in the United States. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy completed its multi-year strategy to exit the merchant nuclear power business in 2022 and upon completion of all transition activities, effective January 1, 2023, Entergy Wholesale Commodities is no longer a reportable segment. See Note 13 and Note 14 to the financial statements in the Form 10-K for discussion of the asset impairments and restructuring charges related to the decision to exit the merchant nuclear power business. Remaining business activity previously reported under Entergy Wholesale Commodities is now included under Parent & Other. Historical segment financial information presented herein has been restated for the third quarter 2022 and the nine months ended September 30, 2022 to reflect the change in reportable segments. The change in reportable segments had no effect on Entergy’s consolidated financial statements or historical segment financial information for the Utility reportable segment. Entergy’s segment financial information for the third quarters of 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $3,559,240 $36,302 ($20) $3,595,522 Income taxes $225,989 $1,008 $— $226,997 Consolidated net income (loss) $754,036 ($3,304) ($81,018) $669,714 2022 Operating revenues $4,156,616 $62,009 ($10) $4,218,615 Income taxes $178,088 $6,024 $— $184,112 Consolidated net income (loss) $667,162 ($55,870) ($55,410) $555,882 Entergy’s segment financial information for the nine months ended September 30, 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $9,325,977 $96,661 ($31) $9,422,607 Income taxes $304,352 ($21,534) $— $282,818 Consolidated net income (loss) $1,666,701 ($74,257) ($218,418) $1,374,026 Total assets as of September 30, 2023 $64,924,653 $839,217 ($5,211,723) $60,552,147 2022 Operating revenues $10,191,041 $300,720 ($24) $10,491,737 Income taxes ($118,257) $9,223 $— ($109,034) Consolidated net income (loss) $1,166,866 ($36,772) ($130,608) $999,486 Total assets as of December 31, 2022 $61,399,243 $884,442 ($3,688,494) $58,595,191 Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations are managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. Management allocates resources and assesses financial performance on a consolidated basis. |
Entergy Mississippi [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy has a single reportable segment, Utility, which includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and operation of a small natural gas distribution business in portions of Louisiana. The Utility segment reflects management’s primary basis of organization with a predominant focus on its utility operations in the Gulf South. Parent & Other includes the parent company, Entergy Corporation, and other business activity, including Entergy’s non-utility operations business which owns interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers and also provides decommissioning services to nuclear power plants owned by non-affiliated entities in the United States. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy completed its multi-year strategy to exit the merchant nuclear power business in 2022 and upon completion of all transition activities, effective January 1, 2023, Entergy Wholesale Commodities is no longer a reportable segment. See Note 13 and Note 14 to the financial statements in the Form 10-K for discussion of the asset impairments and restructuring charges related to the decision to exit the merchant nuclear power business. Remaining business activity previously reported under Entergy Wholesale Commodities is now included under Parent & Other. Historical segment financial information presented herein has been restated for the third quarter 2022 and the nine months ended September 30, 2022 to reflect the change in reportable segments. The change in reportable segments had no effect on Entergy’s consolidated financial statements or historical segment financial information for the Utility reportable segment. Entergy’s segment financial information for the third quarters of 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $3,559,240 $36,302 ($20) $3,595,522 Income taxes $225,989 $1,008 $— $226,997 Consolidated net income (loss) $754,036 ($3,304) ($81,018) $669,714 2022 Operating revenues $4,156,616 $62,009 ($10) $4,218,615 Income taxes $178,088 $6,024 $— $184,112 Consolidated net income (loss) $667,162 ($55,870) ($55,410) $555,882 Entergy’s segment financial information for the nine months ended September 30, 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $9,325,977 $96,661 ($31) $9,422,607 Income taxes $304,352 ($21,534) $— $282,818 Consolidated net income (loss) $1,666,701 ($74,257) ($218,418) $1,374,026 Total assets as of September 30, 2023 $64,924,653 $839,217 ($5,211,723) $60,552,147 2022 Operating revenues $10,191,041 $300,720 ($24) $10,491,737 Income taxes ($118,257) $9,223 $— ($109,034) Consolidated net income (loss) $1,166,866 ($36,772) ($130,608) $999,486 Total assets as of December 31, 2022 $61,399,243 $884,442 ($3,688,494) $58,595,191 Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations are managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. Management allocates resources and assesses financial performance on a consolidated basis. |
Entergy New Orleans [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy has a single reportable segment, Utility, which includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and operation of a small natural gas distribution business in portions of Louisiana. The Utility segment reflects management’s primary basis of organization with a predominant focus on its utility operations in the Gulf South. Parent & Other includes the parent company, Entergy Corporation, and other business activity, including Entergy’s non-utility operations business which owns interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers and also provides decommissioning services to nuclear power plants owned by non-affiliated entities in the United States. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy completed its multi-year strategy to exit the merchant nuclear power business in 2022 and upon completion of all transition activities, effective January 1, 2023, Entergy Wholesale Commodities is no longer a reportable segment. See Note 13 and Note 14 to the financial statements in the Form 10-K for discussion of the asset impairments and restructuring charges related to the decision to exit the merchant nuclear power business. Remaining business activity previously reported under Entergy Wholesale Commodities is now included under Parent & Other. Historical segment financial information presented herein has been restated for the third quarter 2022 and the nine months ended September 30, 2022 to reflect the change in reportable segments. The change in reportable segments had no effect on Entergy’s consolidated financial statements or historical segment financial information for the Utility reportable segment. Entergy’s segment financial information for the third quarters of 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $3,559,240 $36,302 ($20) $3,595,522 Income taxes $225,989 $1,008 $— $226,997 Consolidated net income (loss) $754,036 ($3,304) ($81,018) $669,714 2022 Operating revenues $4,156,616 $62,009 ($10) $4,218,615 Income taxes $178,088 $6,024 $— $184,112 Consolidated net income (loss) $667,162 ($55,870) ($55,410) $555,882 Entergy’s segment financial information for the nine months ended September 30, 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $9,325,977 $96,661 ($31) $9,422,607 Income taxes $304,352 ($21,534) $— $282,818 Consolidated net income (loss) $1,666,701 ($74,257) ($218,418) $1,374,026 Total assets as of September 30, 2023 $64,924,653 $839,217 ($5,211,723) $60,552,147 2022 Operating revenues $10,191,041 $300,720 ($24) $10,491,737 Income taxes ($118,257) $9,223 $— ($109,034) Consolidated net income (loss) $1,166,866 ($36,772) ($130,608) $999,486 Total assets as of December 31, 2022 $61,399,243 $884,442 ($3,688,494) $58,595,191 Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations are managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. Management allocates resources and assesses financial performance on a consolidated basis. |
Entergy Texas [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy has a single reportable segment, Utility, which includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and operation of a small natural gas distribution business in portions of Louisiana. The Utility segment reflects management’s primary basis of organization with a predominant focus on its utility operations in the Gulf South. Parent & Other includes the parent company, Entergy Corporation, and other business activity, including Entergy’s non-utility operations business which owns interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers and also provides decommissioning services to nuclear power plants owned by non-affiliated entities in the United States. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy completed its multi-year strategy to exit the merchant nuclear power business in 2022 and upon completion of all transition activities, effective January 1, 2023, Entergy Wholesale Commodities is no longer a reportable segment. See Note 13 and Note 14 to the financial statements in the Form 10-K for discussion of the asset impairments and restructuring charges related to the decision to exit the merchant nuclear power business. Remaining business activity previously reported under Entergy Wholesale Commodities is now included under Parent & Other. Historical segment financial information presented herein has been restated for the third quarter 2022 and the nine months ended September 30, 2022 to reflect the change in reportable segments. The change in reportable segments had no effect on Entergy’s consolidated financial statements or historical segment financial information for the Utility reportable segment. Entergy’s segment financial information for the third quarters of 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $3,559,240 $36,302 ($20) $3,595,522 Income taxes $225,989 $1,008 $— $226,997 Consolidated net income (loss) $754,036 ($3,304) ($81,018) $669,714 2022 Operating revenues $4,156,616 $62,009 ($10) $4,218,615 Income taxes $178,088 $6,024 $— $184,112 Consolidated net income (loss) $667,162 ($55,870) ($55,410) $555,882 Entergy’s segment financial information for the nine months ended September 30, 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $9,325,977 $96,661 ($31) $9,422,607 Income taxes $304,352 ($21,534) $— $282,818 Consolidated net income (loss) $1,666,701 ($74,257) ($218,418) $1,374,026 Total assets as of September 30, 2023 $64,924,653 $839,217 ($5,211,723) $60,552,147 2022 Operating revenues $10,191,041 $300,720 ($24) $10,491,737 Income taxes ($118,257) $9,223 $— ($109,034) Consolidated net income (loss) $1,166,866 ($36,772) ($130,608) $999,486 Total assets as of December 31, 2022 $61,399,243 $884,442 ($3,688,494) $58,595,191 Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations are managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. Management allocates resources and assesses financial performance on a consolidated basis. |
System Energy [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy has a single reportable segment, Utility, which includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and operation of a small natural gas distribution business in portions of Louisiana. The Utility segment reflects management’s primary basis of organization with a predominant focus on its utility operations in the Gulf South. Parent & Other includes the parent company, Entergy Corporation, and other business activity, including Entergy’s non-utility operations business which owns interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers and also provides decommissioning services to nuclear power plants owned by non-affiliated entities in the United States. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy completed its multi-year strategy to exit the merchant nuclear power business in 2022 and upon completion of all transition activities, effective January 1, 2023, Entergy Wholesale Commodities is no longer a reportable segment. See Note 13 and Note 14 to the financial statements in the Form 10-K for discussion of the asset impairments and restructuring charges related to the decision to exit the merchant nuclear power business. Remaining business activity previously reported under Entergy Wholesale Commodities is now included under Parent & Other. Historical segment financial information presented herein has been restated for the third quarter 2022 and the nine months ended September 30, 2022 to reflect the change in reportable segments. The change in reportable segments had no effect on Entergy’s consolidated financial statements or historical segment financial information for the Utility reportable segment. Entergy’s segment financial information for the third quarters of 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $3,559,240 $36,302 ($20) $3,595,522 Income taxes $225,989 $1,008 $— $226,997 Consolidated net income (loss) $754,036 ($3,304) ($81,018) $669,714 2022 Operating revenues $4,156,616 $62,009 ($10) $4,218,615 Income taxes $178,088 $6,024 $— $184,112 Consolidated net income (loss) $667,162 ($55,870) ($55,410) $555,882 Entergy’s segment financial information for the nine months ended September 30, 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $9,325,977 $96,661 ($31) $9,422,607 Income taxes $304,352 ($21,534) $— $282,818 Consolidated net income (loss) $1,666,701 ($74,257) ($218,418) $1,374,026 Total assets as of September 30, 2023 $64,924,653 $839,217 ($5,211,723) $60,552,147 2022 Operating revenues $10,191,041 $300,720 ($24) $10,491,737 Income taxes ($118,257) $9,223 $— ($109,034) Consolidated net income (loss) $1,166,866 ($36,772) ($130,608) $999,486 Total assets as of December 31, 2022 $61,399,243 $884,442 ($3,688,494) $58,595,191 Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations are managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. Management allocates resources and assesses financial performance on a consolidated basis. |
Risk Management And Fair Values
Risk Management And Fair Values | 9 Months Ended |
Sep. 30, 2023 | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs, that are recovered from customers. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2023 is 6 months, for each of Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2023 is 16,033,600 MMBtu for Entergy, including 3,660,000 MMBtu for Entergy Louisiana, 11,256,600 MMBtu for Entergy Mississippi, and 1,117,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2023, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2023 through May 31, 2024. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy’s non-utility operations are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2023 is 100,632 GWh for Entergy, including 25,018 GWh for Entergy Arkansas, 42,908 GWh for Entergy Louisiana, 12,949 GWh for Entergy Mississippi, 3,960 GWh for Entergy New Orleans, and 15,596 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy’s non-utility operations is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy’s non-utility operations as of September 30, 2023 and December 31, 2022. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas as of September 30, 2023 and for Entergy Mississippi, Entergy New Orleans, and Entergy Texas as of December 31, 2022. The fair values of Entergy’s derivative instruments not designated as hedging instruments on the consolidated balance sheets as of September 30, 2023 and December 31, 2022 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) (In Millions) 2023 Assets: Natural gas swaps and options Prepayments and other $1 $— $ 1 Financial transmission rights Prepayments and other $33 ($1) $ 32 Liabilities: Natural gas swaps and options Other current liabilities $7 $— $ 7 2022 Assets: Natural gas swaps and options Prepayments and other $13 $— $ 13 Natural gas swaps and options Other deferred debits and other assets $3 $— $ 3 Financial transmission rights Prepayments and other $21 ($2) $ 19 Liabilities: Natural gas swaps and options Other current liabilities $25 $— $ 25 (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $8 million posted as of December 31, 2022. Also excludes letters of credit in the amount of $4 million posted as of September 30, 2023 and $3 million posted as of December 31, 2022. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($6) Financial transmission rights Purchased power expense (b) $ 48 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 42 Financial transmission rights Purchased power expense (b) $ 30 The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($44) Financial transmission rights Purchased power expense (b) $ 96 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 120 Financial transmission rights Purchased power expense (b) $ 90 (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Office of Corporate Risk Oversight. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Office of Corporate Risk Oversight reports to the Vice President and Treasurer. The Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,414 $— $— $1,414 Decommissioning trust funds (a): Equity securities 17 — — 17 Debt securities 567 1,093 — 1,660 Common trusts (b) 2,741 Securitization recovery trust account 18 — — 18 Storm reserve escrow accounts 416 — — 416 Gas hedge contracts 1 — — 1 Financial transmission rights — — 32 32 $2,433 $1,093 $32 $6,299 Liabilities: Gas hedge contracts $7 $— $— $7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $109 $— $— $109 Decommissioning trust funds (a): Equity securities 24 — — 24 Debt securities 534 1,122 — 1,656 Common trusts (b) 2,442 Securitization recovery trust account 13 — — 13 Storm reserve escrow accounts 402 — — 402 Gas hedge contracts 13 3 — 16 Financial transmission rights — — 19 19 $1,095 $1,125 $19 $4,681 Liabilities: Gas hedge contracts $25 $— $— $25 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of July 1, $40 $12 Total gains (losses) for the period Included as a regulatory liability/asset 40 39 Settlements (48) (30) Balance as of September 30, $32 $21 The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of January 1, $19 $4 Total gains (losses) for the period Included as a regulatory liability/asset 67 91 Issuances of financial transmission rights 42 16 Settlements (96) (90) Balance as of September 30, $32 $21 The fair values of the Level 3 financial transmission rights are based on unobservable inputs calculated internally and verified against historical pricing data published by MISO. The following tables set forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. Entergy Arkansas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $110.3 $— $— $110.3 Decommissioning trust funds (a): Equity securities 2.4 — — 2.4 Debt securities 128.8 342.1 — 470.9 Common trusts (b) 812.3 Financial transmission rights — — 11.6 11.6 $241.5 $342.1 $11.6 $1,407.5 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $3.4 $— $— $3.4 Decommissioning trust funds (a): Equity securities 4.5 — — 4.5 Debt securities 126.8 343.9 — 470.7 Common trusts (b) 724.7 Financial transmission rights — — 10.3 10.3 $134.7 $343.9 $10.3 $1,213.6 Entergy Louisiana 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $765.8 $— $— $765.8 Decommissioning trust funds (a): Equity securities 10.6 — — 10.6 Debt securities 243.3 493.5 — 736.8 Common trusts (b) 1,165.5 Storm reserve escrow account 303.9 — — 303.9 Gas hedge contracts 1.0 — — 1.0 Financial transmission rights — — 14.7 14.7 $1,324.6 $493.5 $14.7 $2,998.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $6.3 $— $— $6.3 Decommissioning trust funds (a): Equity securities 16.8 — — 16.8 Debt securities 209.4 515.7 — 725.1 Common trusts (b) 1,037.2 Storm reserve escrow account 293.4 — — 293.4 Gas hedge contracts 13.1 3.4 — 16.5 Financial transmission rights — — 7.3 7.3 $539.0 $519.1 $7.3 $2,102.6 Entergy Mississippi 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $10.3 $— $— $10.3 Storm reserve escrow account 34.7 — — 34.7 Financial transmission rights — — 1.1 1.1 $45.0 $— $1.1 $46.1 Liabilities: Gas hedge contracts $7.1 $— $— $7.1 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $17.0 $— $— $17.0 Storm reserve escrow account 33.5 — — 33.5 Financial transmission rights — — 0.6 0.6 $50.5 $— $0.6 $51.1 Liabilities: Gas hedge contracts $24.0 $— $— $24.0 Entergy New Orleans 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $114.4 $— $— $114.4 Securitization recovery trust account 5.7 — — 5.7 Storm reserve escrow account 77.7 — — 77.7 Financial transmission rights — — 1.3 1.3 $197.8 $— $1.3 $199.1 Liabilities: Gas hedge contracts $0.3 $— $— $0.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $4.4 $— $— $4.4 Securitization recovery trust account 2.2 — — 2.2 Storm reserve escrow account 75.0 — — 75.0 Financial transmission rights — — 0.8 0.8 $81.6 $— $0.8 $82.4 Liabilities: Gas hedge contracts $1.5 $— $— $1.5 Entergy Texas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $249.6 $— $— $249.6 Securitization recovery trust account 12.3 — — 12.3 Financial transmission rights — — 3.3 3.3 $261.9 $— $3.3 $265.2 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $3.0 $— $— $3.0 Securitization recovery trust account 10.9 — — 10.9 Financial transmission rights — — 0.1 0.1 $13.9 $— $0.1 $14.0 System Energy 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $94.5 $— $— $94.5 Decommissioning trust funds (a): Equity securities 4.1 — — 4.1 Debt securities 195.5 257.3 — 452.8 Common trusts (b) 762.3 $294.1 $257.3 $— $1,313.7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $2.9 $— $— $2.9 Decommissioning trust funds (a): Equity securities 2.8 — — 2.8 Debt securities 197.5 262.2 — 459.7 Common trusts (b) 680.4 $203.2 $262.2 $— $1,145.8 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Entergy Arkansas [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs, that are recovered from customers. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2023 is 6 months, for each of Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2023 is 16,033,600 MMBtu for Entergy, including 3,660,000 MMBtu for Entergy Louisiana, 11,256,600 MMBtu for Entergy Mississippi, and 1,117,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2023, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2023 through May 31, 2024. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy’s non-utility operations are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2023 is 100,632 GWh for Entergy, including 25,018 GWh for Entergy Arkansas, 42,908 GWh for Entergy Louisiana, 12,949 GWh for Entergy Mississippi, 3,960 GWh for Entergy New Orleans, and 15,596 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy’s non-utility operations is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy’s non-utility operations as of September 30, 2023 and December 31, 2022. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas as of September 30, 2023 and for Entergy Mississippi, Entergy New Orleans, and Entergy Texas as of December 31, 2022. The fair values of Entergy’s derivative instruments not designated as hedging instruments on the consolidated balance sheets as of September 30, 2023 and December 31, 2022 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) (In Millions) 2023 Assets: Natural gas swaps and options Prepayments and other $1 $— $ 1 Financial transmission rights Prepayments and other $33 ($1) $ 32 Liabilities: Natural gas swaps and options Other current liabilities $7 $— $ 7 2022 Assets: Natural gas swaps and options Prepayments and other $13 $— $ 13 Natural gas swaps and options Other deferred debits and other assets $3 $— $ 3 Financial transmission rights Prepayments and other $21 ($2) $ 19 Liabilities: Natural gas swaps and options Other current liabilities $25 $— $ 25 (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $8 million posted as of December 31, 2022. Also excludes letters of credit in the amount of $4 million posted as of September 30, 2023 and $3 million posted as of December 31, 2022. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($6) Financial transmission rights Purchased power expense (b) $ 48 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 42 Financial transmission rights Purchased power expense (b) $ 30 The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($44) Financial transmission rights Purchased power expense (b) $ 96 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 120 Financial transmission rights Purchased power expense (b) $ 90 (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Office of Corporate Risk Oversight. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Office of Corporate Risk Oversight reports to the Vice President and Treasurer. The Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,414 $— $— $1,414 Decommissioning trust funds (a): Equity securities 17 — — 17 Debt securities 567 1,093 — 1,660 Common trusts (b) 2,741 Securitization recovery trust account 18 — — 18 Storm reserve escrow accounts 416 — — 416 Gas hedge contracts 1 — — 1 Financial transmission rights — — 32 32 $2,433 $1,093 $32 $6,299 Liabilities: Gas hedge contracts $7 $— $— $7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $109 $— $— $109 Decommissioning trust funds (a): Equity securities 24 — — 24 Debt securities 534 1,122 — 1,656 Common trusts (b) 2,442 Securitization recovery trust account 13 — — 13 Storm reserve escrow accounts 402 — — 402 Gas hedge contracts 13 3 — 16 Financial transmission rights — — 19 19 $1,095 $1,125 $19 $4,681 Liabilities: Gas hedge contracts $25 $— $— $25 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of July 1, $40 $12 Total gains (losses) for the period Included as a regulatory liability/asset 40 39 Settlements (48) (30) Balance as of September 30, $32 $21 The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of January 1, $19 $4 Total gains (losses) for the period Included as a regulatory liability/asset 67 91 Issuances of financial transmission rights 42 16 Settlements (96) (90) Balance as of September 30, $32 $21 The fair values of the Level 3 financial transmission rights are based on unobservable inputs calculated internally and verified against historical pricing data published by MISO. The following tables set forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. Entergy Arkansas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $110.3 $— $— $110.3 Decommissioning trust funds (a): Equity securities 2.4 — — 2.4 Debt securities 128.8 342.1 — 470.9 Common trusts (b) 812.3 Financial transmission rights — — 11.6 11.6 $241.5 $342.1 $11.6 $1,407.5 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $3.4 $— $— $3.4 Decommissioning trust funds (a): Equity securities 4.5 — — 4.5 Debt securities 126.8 343.9 — 470.7 Common trusts (b) 724.7 Financial transmission rights — — 10.3 10.3 $134.7 $343.9 $10.3 $1,213.6 Entergy Louisiana 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $765.8 $— $— $765.8 Decommissioning trust funds (a): Equity securities 10.6 — — 10.6 Debt securities 243.3 493.5 — 736.8 Common trusts (b) 1,165.5 Storm reserve escrow account 303.9 — — 303.9 Gas hedge contracts 1.0 — — 1.0 Financial transmission rights — — 14.7 14.7 $1,324.6 $493.5 $14.7 $2,998.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $6.3 $— $— $6.3 Decommissioning trust funds (a): Equity securities 16.8 — — 16.8 Debt securities 209.4 515.7 — 725.1 Common trusts (b) 1,037.2 Storm reserve escrow account 293.4 — — 293.4 Gas hedge contracts 13.1 3.4 — 16.5 Financial transmission rights — — 7.3 7.3 $539.0 $519.1 $7.3 $2,102.6 Entergy Mississippi 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $10.3 $— $— $10.3 Storm reserve escrow account 34.7 — — 34.7 Financial transmission rights — — 1.1 1.1 $45.0 $— $1.1 $46.1 Liabilities: Gas hedge contracts $7.1 $— $— $7.1 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $17.0 $— $— $17.0 Storm reserve escrow account 33.5 — — 33.5 Financial transmission rights — — 0.6 0.6 $50.5 $— $0.6 $51.1 Liabilities: Gas hedge contracts $24.0 $— $— $24.0 Entergy New Orleans 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $114.4 $— $— $114.4 Securitization recovery trust account 5.7 — — 5.7 Storm reserve escrow account 77.7 — — 77.7 Financial transmission rights — — 1.3 1.3 $197.8 $— $1.3 $199.1 Liabilities: Gas hedge contracts $0.3 $— $— $0.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $4.4 $— $— $4.4 Securitization recovery trust account 2.2 — — 2.2 Storm reserve escrow account 75.0 — — 75.0 Financial transmission rights — — 0.8 0.8 $81.6 $— $0.8 $82.4 Liabilities: Gas hedge contracts $1.5 $— $— $1.5 Entergy Texas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $249.6 $— $— $249.6 Securitization recovery trust account 12.3 — — 12.3 Financial transmission rights — — 3.3 3.3 $261.9 $— $3.3 $265.2 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $3.0 $— $— $3.0 Securitization recovery trust account 10.9 — — 10.9 Financial transmission rights — — 0.1 0.1 $13.9 $— $0.1 $14.0 System Energy 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $94.5 $— $— $94.5 Decommissioning trust funds (a): Equity securities 4.1 — — 4.1 Debt securities 195.5 257.3 — 452.8 Common trusts (b) 762.3 $294.1 $257.3 $— $1,313.7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $2.9 $— $— $2.9 Decommissioning trust funds (a): Equity securities 2.8 — — 2.8 Debt securities 197.5 262.2 — 459.7 Common trusts (b) 680.4 $203.2 $262.2 $— $1,145.8 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Entergy Louisiana [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs, that are recovered from customers. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2023 is 6 months, for each of Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2023 is 16,033,600 MMBtu for Entergy, including 3,660,000 MMBtu for Entergy Louisiana, 11,256,600 MMBtu for Entergy Mississippi, and 1,117,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2023, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2023 through May 31, 2024. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy’s non-utility operations are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2023 is 100,632 GWh for Entergy, including 25,018 GWh for Entergy Arkansas, 42,908 GWh for Entergy Louisiana, 12,949 GWh for Entergy Mississippi, 3,960 GWh for Entergy New Orleans, and 15,596 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy’s non-utility operations is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy’s non-utility operations as of September 30, 2023 and December 31, 2022. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas as of September 30, 2023 and for Entergy Mississippi, Entergy New Orleans, and Entergy Texas as of December 31, 2022. The fair values of Entergy’s derivative instruments not designated as hedging instruments on the consolidated balance sheets as of September 30, 2023 and December 31, 2022 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) (In Millions) 2023 Assets: Natural gas swaps and options Prepayments and other $1 $— $ 1 Financial transmission rights Prepayments and other $33 ($1) $ 32 Liabilities: Natural gas swaps and options Other current liabilities $7 $— $ 7 2022 Assets: Natural gas swaps and options Prepayments and other $13 $— $ 13 Natural gas swaps and options Other deferred debits and other assets $3 $— $ 3 Financial transmission rights Prepayments and other $21 ($2) $ 19 Liabilities: Natural gas swaps and options Other current liabilities $25 $— $ 25 (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $8 million posted as of December 31, 2022. Also excludes letters of credit in the amount of $4 million posted as of September 30, 2023 and $3 million posted as of December 31, 2022. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($6) Financial transmission rights Purchased power expense (b) $ 48 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 42 Financial transmission rights Purchased power expense (b) $ 30 The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($44) Financial transmission rights Purchased power expense (b) $ 96 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 120 Financial transmission rights Purchased power expense (b) $ 90 (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Office of Corporate Risk Oversight. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Office of Corporate Risk Oversight reports to the Vice President and Treasurer. The Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,414 $— $— $1,414 Decommissioning trust funds (a): Equity securities 17 — — 17 Debt securities 567 1,093 — 1,660 Common trusts (b) 2,741 Securitization recovery trust account 18 — — 18 Storm reserve escrow accounts 416 — — 416 Gas hedge contracts 1 — — 1 Financial transmission rights — — 32 32 $2,433 $1,093 $32 $6,299 Liabilities: Gas hedge contracts $7 $— $— $7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $109 $— $— $109 Decommissioning trust funds (a): Equity securities 24 — — 24 Debt securities 534 1,122 — 1,656 Common trusts (b) 2,442 Securitization recovery trust account 13 — — 13 Storm reserve escrow accounts 402 — — 402 Gas hedge contracts 13 3 — 16 Financial transmission rights — — 19 19 $1,095 $1,125 $19 $4,681 Liabilities: Gas hedge contracts $25 $— $— $25 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of July 1, $40 $12 Total gains (losses) for the period Included as a regulatory liability/asset 40 39 Settlements (48) (30) Balance as of September 30, $32 $21 The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of January 1, $19 $4 Total gains (losses) for the period Included as a regulatory liability/asset 67 91 Issuances of financial transmission rights 42 16 Settlements (96) (90) Balance as of September 30, $32 $21 The fair values of the Level 3 financial transmission rights are based on unobservable inputs calculated internally and verified against historical pricing data published by MISO. The following tables set forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. Entergy Arkansas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $110.3 $— $— $110.3 Decommissioning trust funds (a): Equity securities 2.4 — — 2.4 Debt securities 128.8 342.1 — 470.9 Common trusts (b) 812.3 Financial transmission rights — — 11.6 11.6 $241.5 $342.1 $11.6 $1,407.5 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $3.4 $— $— $3.4 Decommissioning trust funds (a): Equity securities 4.5 — — 4.5 Debt securities 126.8 343.9 — 470.7 Common trusts (b) 724.7 Financial transmission rights — — 10.3 10.3 $134.7 $343.9 $10.3 $1,213.6 Entergy Louisiana 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $765.8 $— $— $765.8 Decommissioning trust funds (a): Equity securities 10.6 — — 10.6 Debt securities 243.3 493.5 — 736.8 Common trusts (b) 1,165.5 Storm reserve escrow account 303.9 — — 303.9 Gas hedge contracts 1.0 — — 1.0 Financial transmission rights — — 14.7 14.7 $1,324.6 $493.5 $14.7 $2,998.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $6.3 $— $— $6.3 Decommissioning trust funds (a): Equity securities 16.8 — — 16.8 Debt securities 209.4 515.7 — 725.1 Common trusts (b) 1,037.2 Storm reserve escrow account 293.4 — — 293.4 Gas hedge contracts 13.1 3.4 — 16.5 Financial transmission rights — — 7.3 7.3 $539.0 $519.1 $7.3 $2,102.6 Entergy Mississippi 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $10.3 $— $— $10.3 Storm reserve escrow account 34.7 — — 34.7 Financial transmission rights — — 1.1 1.1 $45.0 $— $1.1 $46.1 Liabilities: Gas hedge contracts $7.1 $— $— $7.1 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $17.0 $— $— $17.0 Storm reserve escrow account 33.5 — — 33.5 Financial transmission rights — — 0.6 0.6 $50.5 $— $0.6 $51.1 Liabilities: Gas hedge contracts $24.0 $— $— $24.0 Entergy New Orleans 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $114.4 $— $— $114.4 Securitization recovery trust account 5.7 — — 5.7 Storm reserve escrow account 77.7 — — 77.7 Financial transmission rights — — 1.3 1.3 $197.8 $— $1.3 $199.1 Liabilities: Gas hedge contracts $0.3 $— $— $0.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $4.4 $— $— $4.4 Securitization recovery trust account 2.2 — — 2.2 Storm reserve escrow account 75.0 — — 75.0 Financial transmission rights — — 0.8 0.8 $81.6 $— $0.8 $82.4 Liabilities: Gas hedge contracts $1.5 $— $— $1.5 Entergy Texas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $249.6 $— $— $249.6 Securitization recovery trust account 12.3 — — 12.3 Financial transmission rights — — 3.3 3.3 $261.9 $— $3.3 $265.2 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $3.0 $— $— $3.0 Securitization recovery trust account 10.9 — — 10.9 Financial transmission rights — — 0.1 0.1 $13.9 $— $0.1 $14.0 System Energy 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $94.5 $— $— $94.5 Decommissioning trust funds (a): Equity securities 4.1 — — 4.1 Debt securities 195.5 257.3 — 452.8 Common trusts (b) 762.3 $294.1 $257.3 $— $1,313.7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $2.9 $— $— $2.9 Decommissioning trust funds (a): Equity securities 2.8 — — 2.8 Debt securities 197.5 262.2 — 459.7 Common trusts (b) 680.4 $203.2 $262.2 $— $1,145.8 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Entergy Mississippi [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs, that are recovered from customers. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2023 is 6 months, for each of Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2023 is 16,033,600 MMBtu for Entergy, including 3,660,000 MMBtu for Entergy Louisiana, 11,256,600 MMBtu for Entergy Mississippi, and 1,117,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2023, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2023 through May 31, 2024. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy’s non-utility operations are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2023 is 100,632 GWh for Entergy, including 25,018 GWh for Entergy Arkansas, 42,908 GWh for Entergy Louisiana, 12,949 GWh for Entergy Mississippi, 3,960 GWh for Entergy New Orleans, and 15,596 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy’s non-utility operations is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy’s non-utility operations as of September 30, 2023 and December 31, 2022. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas as of September 30, 2023 and for Entergy Mississippi, Entergy New Orleans, and Entergy Texas as of December 31, 2022. The fair values of Entergy’s derivative instruments not designated as hedging instruments on the consolidated balance sheets as of September 30, 2023 and December 31, 2022 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) (In Millions) 2023 Assets: Natural gas swaps and options Prepayments and other $1 $— $ 1 Financial transmission rights Prepayments and other $33 ($1) $ 32 Liabilities: Natural gas swaps and options Other current liabilities $7 $— $ 7 2022 Assets: Natural gas swaps and options Prepayments and other $13 $— $ 13 Natural gas swaps and options Other deferred debits and other assets $3 $— $ 3 Financial transmission rights Prepayments and other $21 ($2) $ 19 Liabilities: Natural gas swaps and options Other current liabilities $25 $— $ 25 (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $8 million posted as of December 31, 2022. Also excludes letters of credit in the amount of $4 million posted as of September 30, 2023 and $3 million posted as of December 31, 2022. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($6) Financial transmission rights Purchased power expense (b) $ 48 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 42 Financial transmission rights Purchased power expense (b) $ 30 The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($44) Financial transmission rights Purchased power expense (b) $ 96 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 120 Financial transmission rights Purchased power expense (b) $ 90 (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Office of Corporate Risk Oversight. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Office of Corporate Risk Oversight reports to the Vice President and Treasurer. The Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,414 $— $— $1,414 Decommissioning trust funds (a): Equity securities 17 — — 17 Debt securities 567 1,093 — 1,660 Common trusts (b) 2,741 Securitization recovery trust account 18 — — 18 Storm reserve escrow accounts 416 — — 416 Gas hedge contracts 1 — — 1 Financial transmission rights — — 32 32 $2,433 $1,093 $32 $6,299 Liabilities: Gas hedge contracts $7 $— $— $7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $109 $— $— $109 Decommissioning trust funds (a): Equity securities 24 — — 24 Debt securities 534 1,122 — 1,656 Common trusts (b) 2,442 Securitization recovery trust account 13 — — 13 Storm reserve escrow accounts 402 — — 402 Gas hedge contracts 13 3 — 16 Financial transmission rights — — 19 19 $1,095 $1,125 $19 $4,681 Liabilities: Gas hedge contracts $25 $— $— $25 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of July 1, $40 $12 Total gains (losses) for the period Included as a regulatory liability/asset 40 39 Settlements (48) (30) Balance as of September 30, $32 $21 The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of January 1, $19 $4 Total gains (losses) for the period Included as a regulatory liability/asset 67 91 Issuances of financial transmission rights 42 16 Settlements (96) (90) Balance as of September 30, $32 $21 The fair values of the Level 3 financial transmission rights are based on unobservable inputs calculated internally and verified against historical pricing data published by MISO. The following tables set forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. Entergy Arkansas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $110.3 $— $— $110.3 Decommissioning trust funds (a): Equity securities 2.4 — — 2.4 Debt securities 128.8 342.1 — 470.9 Common trusts (b) 812.3 Financial transmission rights — — 11.6 11.6 $241.5 $342.1 $11.6 $1,407.5 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $3.4 $— $— $3.4 Decommissioning trust funds (a): Equity securities 4.5 — — 4.5 Debt securities 126.8 343.9 — 470.7 Common trusts (b) 724.7 Financial transmission rights — — 10.3 10.3 $134.7 $343.9 $10.3 $1,213.6 Entergy Louisiana 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $765.8 $— $— $765.8 Decommissioning trust funds (a): Equity securities 10.6 — — 10.6 Debt securities 243.3 493.5 — 736.8 Common trusts (b) 1,165.5 Storm reserve escrow account 303.9 — — 303.9 Gas hedge contracts 1.0 — — 1.0 Financial transmission rights — — 14.7 14.7 $1,324.6 $493.5 $14.7 $2,998.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $6.3 $— $— $6.3 Decommissioning trust funds (a): Equity securities 16.8 — — 16.8 Debt securities 209.4 515.7 — 725.1 Common trusts (b) 1,037.2 Storm reserve escrow account 293.4 — — 293.4 Gas hedge contracts 13.1 3.4 — 16.5 Financial transmission rights — — 7.3 7.3 $539.0 $519.1 $7.3 $2,102.6 Entergy Mississippi 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $10.3 $— $— $10.3 Storm reserve escrow account 34.7 — — 34.7 Financial transmission rights — — 1.1 1.1 $45.0 $— $1.1 $46.1 Liabilities: Gas hedge contracts $7.1 $— $— $7.1 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $17.0 $— $— $17.0 Storm reserve escrow account 33.5 — — 33.5 Financial transmission rights — — 0.6 0.6 $50.5 $— $0.6 $51.1 Liabilities: Gas hedge contracts $24.0 $— $— $24.0 Entergy New Orleans 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $114.4 $— $— $114.4 Securitization recovery trust account 5.7 — — 5.7 Storm reserve escrow account 77.7 — — 77.7 Financial transmission rights — — 1.3 1.3 $197.8 $— $1.3 $199.1 Liabilities: Gas hedge contracts $0.3 $— $— $0.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $4.4 $— $— $4.4 Securitization recovery trust account 2.2 — — 2.2 Storm reserve escrow account 75.0 — — 75.0 Financial transmission rights — — 0.8 0.8 $81.6 $— $0.8 $82.4 Liabilities: Gas hedge contracts $1.5 $— $— $1.5 Entergy Texas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $249.6 $— $— $249.6 Securitization recovery trust account 12.3 — — 12.3 Financial transmission rights — — 3.3 3.3 $261.9 $— $3.3 $265.2 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $3.0 $— $— $3.0 Securitization recovery trust account 10.9 — — 10.9 Financial transmission rights — — 0.1 0.1 $13.9 $— $0.1 $14.0 System Energy 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $94.5 $— $— $94.5 Decommissioning trust funds (a): Equity securities 4.1 — — 4.1 Debt securities 195.5 257.3 — 452.8 Common trusts (b) 762.3 $294.1 $257.3 $— $1,313.7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $2.9 $— $— $2.9 Decommissioning trust funds (a): Equity securities 2.8 — — 2.8 Debt securities 197.5 262.2 — 459.7 Common trusts (b) 680.4 $203.2 $262.2 $— $1,145.8 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Entergy New Orleans [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs, that are recovered from customers. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2023 is 6 months, for each of Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2023 is 16,033,600 MMBtu for Entergy, including 3,660,000 MMBtu for Entergy Louisiana, 11,256,600 MMBtu for Entergy Mississippi, and 1,117,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2023, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2023 through May 31, 2024. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy’s non-utility operations are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2023 is 100,632 GWh for Entergy, including 25,018 GWh for Entergy Arkansas, 42,908 GWh for Entergy Louisiana, 12,949 GWh for Entergy Mississippi, 3,960 GWh for Entergy New Orleans, and 15,596 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy’s non-utility operations is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy’s non-utility operations as of September 30, 2023 and December 31, 2022. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas as of September 30, 2023 and for Entergy Mississippi, Entergy New Orleans, and Entergy Texas as of December 31, 2022. The fair values of Entergy’s derivative instruments not designated as hedging instruments on the consolidated balance sheets as of September 30, 2023 and December 31, 2022 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) (In Millions) 2023 Assets: Natural gas swaps and options Prepayments and other $1 $— $ 1 Financial transmission rights Prepayments and other $33 ($1) $ 32 Liabilities: Natural gas swaps and options Other current liabilities $7 $— $ 7 2022 Assets: Natural gas swaps and options Prepayments and other $13 $— $ 13 Natural gas swaps and options Other deferred debits and other assets $3 $— $ 3 Financial transmission rights Prepayments and other $21 ($2) $ 19 Liabilities: Natural gas swaps and options Other current liabilities $25 $— $ 25 (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $8 million posted as of December 31, 2022. Also excludes letters of credit in the amount of $4 million posted as of September 30, 2023 and $3 million posted as of December 31, 2022. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($6) Financial transmission rights Purchased power expense (b) $ 48 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 42 Financial transmission rights Purchased power expense (b) $ 30 The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($44) Financial transmission rights Purchased power expense (b) $ 96 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 120 Financial transmission rights Purchased power expense (b) $ 90 (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Office of Corporate Risk Oversight. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Office of Corporate Risk Oversight reports to the Vice President and Treasurer. The Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,414 $— $— $1,414 Decommissioning trust funds (a): Equity securities 17 — — 17 Debt securities 567 1,093 — 1,660 Common trusts (b) 2,741 Securitization recovery trust account 18 — — 18 Storm reserve escrow accounts 416 — — 416 Gas hedge contracts 1 — — 1 Financial transmission rights — — 32 32 $2,433 $1,093 $32 $6,299 Liabilities: Gas hedge contracts $7 $— $— $7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $109 $— $— $109 Decommissioning trust funds (a): Equity securities 24 — — 24 Debt securities 534 1,122 — 1,656 Common trusts (b) 2,442 Securitization recovery trust account 13 — — 13 Storm reserve escrow accounts 402 — — 402 Gas hedge contracts 13 3 — 16 Financial transmission rights — — 19 19 $1,095 $1,125 $19 $4,681 Liabilities: Gas hedge contracts $25 $— $— $25 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of July 1, $40 $12 Total gains (losses) for the period Included as a regulatory liability/asset 40 39 Settlements (48) (30) Balance as of September 30, $32 $21 The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of January 1, $19 $4 Total gains (losses) for the period Included as a regulatory liability/asset 67 91 Issuances of financial transmission rights 42 16 Settlements (96) (90) Balance as of September 30, $32 $21 The fair values of the Level 3 financial transmission rights are based on unobservable inputs calculated internally and verified against historical pricing data published by MISO. The following tables set forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. Entergy Arkansas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $110.3 $— $— $110.3 Decommissioning trust funds (a): Equity securities 2.4 — — 2.4 Debt securities 128.8 342.1 — 470.9 Common trusts (b) 812.3 Financial transmission rights — — 11.6 11.6 $241.5 $342.1 $11.6 $1,407.5 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $3.4 $— $— $3.4 Decommissioning trust funds (a): Equity securities 4.5 — — 4.5 Debt securities 126.8 343.9 — 470.7 Common trusts (b) 724.7 Financial transmission rights — — 10.3 10.3 $134.7 $343.9 $10.3 $1,213.6 Entergy Louisiana 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $765.8 $— $— $765.8 Decommissioning trust funds (a): Equity securities 10.6 — — 10.6 Debt securities 243.3 493.5 — 736.8 Common trusts (b) 1,165.5 Storm reserve escrow account 303.9 — — 303.9 Gas hedge contracts 1.0 — — 1.0 Financial transmission rights — — 14.7 14.7 $1,324.6 $493.5 $14.7 $2,998.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $6.3 $— $— $6.3 Decommissioning trust funds (a): Equity securities 16.8 — — 16.8 Debt securities 209.4 515.7 — 725.1 Common trusts (b) 1,037.2 Storm reserve escrow account 293.4 — — 293.4 Gas hedge contracts 13.1 3.4 — 16.5 Financial transmission rights — — 7.3 7.3 $539.0 $519.1 $7.3 $2,102.6 Entergy Mississippi 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $10.3 $— $— $10.3 Storm reserve escrow account 34.7 — — 34.7 Financial transmission rights — — 1.1 1.1 $45.0 $— $1.1 $46.1 Liabilities: Gas hedge contracts $7.1 $— $— $7.1 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $17.0 $— $— $17.0 Storm reserve escrow account 33.5 — — 33.5 Financial transmission rights — — 0.6 0.6 $50.5 $— $0.6 $51.1 Liabilities: Gas hedge contracts $24.0 $— $— $24.0 Entergy New Orleans 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $114.4 $— $— $114.4 Securitization recovery trust account 5.7 — — 5.7 Storm reserve escrow account 77.7 — — 77.7 Financial transmission rights — — 1.3 1.3 $197.8 $— $1.3 $199.1 Liabilities: Gas hedge contracts $0.3 $— $— $0.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $4.4 $— $— $4.4 Securitization recovery trust account 2.2 — — 2.2 Storm reserve escrow account 75.0 — — 75.0 Financial transmission rights — — 0.8 0.8 $81.6 $— $0.8 $82.4 Liabilities: Gas hedge contracts $1.5 $— $— $1.5 Entergy Texas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $249.6 $— $— $249.6 Securitization recovery trust account 12.3 — — 12.3 Financial transmission rights — — 3.3 3.3 $261.9 $— $3.3 $265.2 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $3.0 $— $— $3.0 Securitization recovery trust account 10.9 — — 10.9 Financial transmission rights — — 0.1 0.1 $13.9 $— $0.1 $14.0 System Energy 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $94.5 $— $— $94.5 Decommissioning trust funds (a): Equity securities 4.1 — — 4.1 Debt securities 195.5 257.3 — 452.8 Common trusts (b) 762.3 $294.1 $257.3 $— $1,313.7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $2.9 $— $— $2.9 Decommissioning trust funds (a): Equity securities 2.8 — — 2.8 Debt securities 197.5 262.2 — 459.7 Common trusts (b) 680.4 $203.2 $262.2 $— $1,145.8 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Entergy Texas [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs, that are recovered from customers. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2023 is 6 months, for each of Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2023 is 16,033,600 MMBtu for Entergy, including 3,660,000 MMBtu for Entergy Louisiana, 11,256,600 MMBtu for Entergy Mississippi, and 1,117,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2023, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2023 through May 31, 2024. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy’s non-utility operations are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2023 is 100,632 GWh for Entergy, including 25,018 GWh for Entergy Arkansas, 42,908 GWh for Entergy Louisiana, 12,949 GWh for Entergy Mississippi, 3,960 GWh for Entergy New Orleans, and 15,596 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy’s non-utility operations is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy’s non-utility operations as of September 30, 2023 and December 31, 2022. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas as of September 30, 2023 and for Entergy Mississippi, Entergy New Orleans, and Entergy Texas as of December 31, 2022. The fair values of Entergy’s derivative instruments not designated as hedging instruments on the consolidated balance sheets as of September 30, 2023 and December 31, 2022 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) (In Millions) 2023 Assets: Natural gas swaps and options Prepayments and other $1 $— $ 1 Financial transmission rights Prepayments and other $33 ($1) $ 32 Liabilities: Natural gas swaps and options Other current liabilities $7 $— $ 7 2022 Assets: Natural gas swaps and options Prepayments and other $13 $— $ 13 Natural gas swaps and options Other deferred debits and other assets $3 $— $ 3 Financial transmission rights Prepayments and other $21 ($2) $ 19 Liabilities: Natural gas swaps and options Other current liabilities $25 $— $ 25 (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $8 million posted as of December 31, 2022. Also excludes letters of credit in the amount of $4 million posted as of September 30, 2023 and $3 million posted as of December 31, 2022. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($6) Financial transmission rights Purchased power expense (b) $ 48 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 42 Financial transmission rights Purchased power expense (b) $ 30 The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($44) Financial transmission rights Purchased power expense (b) $ 96 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 120 Financial transmission rights Purchased power expense (b) $ 90 (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Office of Corporate Risk Oversight. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Office of Corporate Risk Oversight reports to the Vice President and Treasurer. The Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,414 $— $— $1,414 Decommissioning trust funds (a): Equity securities 17 — — 17 Debt securities 567 1,093 — 1,660 Common trusts (b) 2,741 Securitization recovery trust account 18 — — 18 Storm reserve escrow accounts 416 — — 416 Gas hedge contracts 1 — — 1 Financial transmission rights — — 32 32 $2,433 $1,093 $32 $6,299 Liabilities: Gas hedge contracts $7 $— $— $7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $109 $— $— $109 Decommissioning trust funds (a): Equity securities 24 — — 24 Debt securities 534 1,122 — 1,656 Common trusts (b) 2,442 Securitization recovery trust account 13 — — 13 Storm reserve escrow accounts 402 — — 402 Gas hedge contracts 13 3 — 16 Financial transmission rights — — 19 19 $1,095 $1,125 $19 $4,681 Liabilities: Gas hedge contracts $25 $— $— $25 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of July 1, $40 $12 Total gains (losses) for the period Included as a regulatory liability/asset 40 39 Settlements (48) (30) Balance as of September 30, $32 $21 The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of January 1, $19 $4 Total gains (losses) for the period Included as a regulatory liability/asset 67 91 Issuances of financial transmission rights 42 16 Settlements (96) (90) Balance as of September 30, $32 $21 The fair values of the Level 3 financial transmission rights are based on unobservable inputs calculated internally and verified against historical pricing data published by MISO. The following tables set forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. Entergy Arkansas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $110.3 $— $— $110.3 Decommissioning trust funds (a): Equity securities 2.4 — — 2.4 Debt securities 128.8 342.1 — 470.9 Common trusts (b) 812.3 Financial transmission rights — — 11.6 11.6 $241.5 $342.1 $11.6 $1,407.5 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $3.4 $— $— $3.4 Decommissioning trust funds (a): Equity securities 4.5 — — 4.5 Debt securities 126.8 343.9 — 470.7 Common trusts (b) 724.7 Financial transmission rights — — 10.3 10.3 $134.7 $343.9 $10.3 $1,213.6 Entergy Louisiana 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $765.8 $— $— $765.8 Decommissioning trust funds (a): Equity securities 10.6 — — 10.6 Debt securities 243.3 493.5 — 736.8 Common trusts (b) 1,165.5 Storm reserve escrow account 303.9 — — 303.9 Gas hedge contracts 1.0 — — 1.0 Financial transmission rights — — 14.7 14.7 $1,324.6 $493.5 $14.7 $2,998.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $6.3 $— $— $6.3 Decommissioning trust funds (a): Equity securities 16.8 — — 16.8 Debt securities 209.4 515.7 — 725.1 Common trusts (b) 1,037.2 Storm reserve escrow account 293.4 — — 293.4 Gas hedge contracts 13.1 3.4 — 16.5 Financial transmission rights — — 7.3 7.3 $539.0 $519.1 $7.3 $2,102.6 Entergy Mississippi 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $10.3 $— $— $10.3 Storm reserve escrow account 34.7 — — 34.7 Financial transmission rights — — 1.1 1.1 $45.0 $— $1.1 $46.1 Liabilities: Gas hedge contracts $7.1 $— $— $7.1 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $17.0 $— $— $17.0 Storm reserve escrow account 33.5 — — 33.5 Financial transmission rights — — 0.6 0.6 $50.5 $— $0.6 $51.1 Liabilities: Gas hedge contracts $24.0 $— $— $24.0 Entergy New Orleans 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $114.4 $— $— $114.4 Securitization recovery trust account 5.7 — — 5.7 Storm reserve escrow account 77.7 — — 77.7 Financial transmission rights — — 1.3 1.3 $197.8 $— $1.3 $199.1 Liabilities: Gas hedge contracts $0.3 $— $— $0.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $4.4 $— $— $4.4 Securitization recovery trust account 2.2 — — 2.2 Storm reserve escrow account 75.0 — — 75.0 Financial transmission rights — — 0.8 0.8 $81.6 $— $0.8 $82.4 Liabilities: Gas hedge contracts $1.5 $— $— $1.5 Entergy Texas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $249.6 $— $— $249.6 Securitization recovery trust account 12.3 — — 12.3 Financial transmission rights — — 3.3 3.3 $261.9 $— $3.3 $265.2 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $3.0 $— $— $3.0 Securitization recovery trust account 10.9 — — 10.9 Financial transmission rights — — 0.1 0.1 $13.9 $— $0.1 $14.0 System Energy 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $94.5 $— $— $94.5 Decommissioning trust funds (a): Equity securities 4.1 — — 4.1 Debt securities 195.5 257.3 — 452.8 Common trusts (b) 762.3 $294.1 $257.3 $— $1,313.7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $2.9 $— $— $2.9 Decommissioning trust funds (a): Equity securities 2.8 — — 2.8 Debt securities 197.5 262.2 — 459.7 Common trusts (b) 680.4 $203.2 $262.2 $— $1,145.8 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
System Energy [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs, that are recovered from customers. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2023 is 6 months, for each of Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2023 is 16,033,600 MMBtu for Entergy, including 3,660,000 MMBtu for Entergy Louisiana, 11,256,600 MMBtu for Entergy Mississippi, and 1,117,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2023, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2023 through May 31, 2024. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy’s non-utility operations are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2023 is 100,632 GWh for Entergy, including 25,018 GWh for Entergy Arkansas, 42,908 GWh for Entergy Louisiana, 12,949 GWh for Entergy Mississippi, 3,960 GWh for Entergy New Orleans, and 15,596 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy’s non-utility operations is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy’s non-utility operations as of September 30, 2023 and December 31, 2022. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas as of September 30, 2023 and for Entergy Mississippi, Entergy New Orleans, and Entergy Texas as of December 31, 2022. The fair values of Entergy’s derivative instruments not designated as hedging instruments on the consolidated balance sheets as of September 30, 2023 and December 31, 2022 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) (In Millions) 2023 Assets: Natural gas swaps and options Prepayments and other $1 $— $ 1 Financial transmission rights Prepayments and other $33 ($1) $ 32 Liabilities: Natural gas swaps and options Other current liabilities $7 $— $ 7 2022 Assets: Natural gas swaps and options Prepayments and other $13 $— $ 13 Natural gas swaps and options Other deferred debits and other assets $3 $— $ 3 Financial transmission rights Prepayments and other $21 ($2) $ 19 Liabilities: Natural gas swaps and options Other current liabilities $25 $— $ 25 (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $8 million posted as of December 31, 2022. Also excludes letters of credit in the amount of $4 million posted as of September 30, 2023 and $3 million posted as of December 31, 2022. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($6) Financial transmission rights Purchased power expense (b) $ 48 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 42 Financial transmission rights Purchased power expense (b) $ 30 The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($44) Financial transmission rights Purchased power expense (b) $ 96 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 120 Financial transmission rights Purchased power expense (b) $ 90 (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Office of Corporate Risk Oversight. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Office of Corporate Risk Oversight reports to the Vice President and Treasurer. The Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,414 $— $— $1,414 Decommissioning trust funds (a): Equity securities 17 — — 17 Debt securities 567 1,093 — 1,660 Common trusts (b) 2,741 Securitization recovery trust account 18 — — 18 Storm reserve escrow accounts 416 — — 416 Gas hedge contracts 1 — — 1 Financial transmission rights — — 32 32 $2,433 $1,093 $32 $6,299 Liabilities: Gas hedge contracts $7 $— $— $7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $109 $— $— $109 Decommissioning trust funds (a): Equity securities 24 — — 24 Debt securities 534 1,122 — 1,656 Common trusts (b) 2,442 Securitization recovery trust account 13 — — 13 Storm reserve escrow accounts 402 — — 402 Gas hedge contracts 13 3 — 16 Financial transmission rights — — 19 19 $1,095 $1,125 $19 $4,681 Liabilities: Gas hedge contracts $25 $— $— $25 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of July 1, $40 $12 Total gains (losses) for the period Included as a regulatory liability/asset 40 39 Settlements (48) (30) Balance as of September 30, $32 $21 The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of January 1, $19 $4 Total gains (losses) for the period Included as a regulatory liability/asset 67 91 Issuances of financial transmission rights 42 16 Settlements (96) (90) Balance as of September 30, $32 $21 The fair values of the Level 3 financial transmission rights are based on unobservable inputs calculated internally and verified against historical pricing data published by MISO. The following tables set forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. Entergy Arkansas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $110.3 $— $— $110.3 Decommissioning trust funds (a): Equity securities 2.4 — — 2.4 Debt securities 128.8 342.1 — 470.9 Common trusts (b) 812.3 Financial transmission rights — — 11.6 11.6 $241.5 $342.1 $11.6 $1,407.5 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $3.4 $— $— $3.4 Decommissioning trust funds (a): Equity securities 4.5 — — 4.5 Debt securities 126.8 343.9 — 470.7 Common trusts (b) 724.7 Financial transmission rights — — 10.3 10.3 $134.7 $343.9 $10.3 $1,213.6 Entergy Louisiana 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $765.8 $— $— $765.8 Decommissioning trust funds (a): Equity securities 10.6 — — 10.6 Debt securities 243.3 493.5 — 736.8 Common trusts (b) 1,165.5 Storm reserve escrow account 303.9 — — 303.9 Gas hedge contracts 1.0 — — 1.0 Financial transmission rights — — 14.7 14.7 $1,324.6 $493.5 $14.7 $2,998.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $6.3 $— $— $6.3 Decommissioning trust funds (a): Equity securities 16.8 — — 16.8 Debt securities 209.4 515.7 — 725.1 Common trusts (b) 1,037.2 Storm reserve escrow account 293.4 — — 293.4 Gas hedge contracts 13.1 3.4 — 16.5 Financial transmission rights — — 7.3 7.3 $539.0 $519.1 $7.3 $2,102.6 Entergy Mississippi 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $10.3 $— $— $10.3 Storm reserve escrow account 34.7 — — 34.7 Financial transmission rights — — 1.1 1.1 $45.0 $— $1.1 $46.1 Liabilities: Gas hedge contracts $7.1 $— $— $7.1 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $17.0 $— $— $17.0 Storm reserve escrow account 33.5 — — 33.5 Financial transmission rights — — 0.6 0.6 $50.5 $— $0.6 $51.1 Liabilities: Gas hedge contracts $24.0 $— $— $24.0 Entergy New Orleans 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $114.4 $— $— $114.4 Securitization recovery trust account 5.7 — — 5.7 Storm reserve escrow account 77.7 — — 77.7 Financial transmission rights — — 1.3 1.3 $197.8 $— $1.3 $199.1 Liabilities: Gas hedge contracts $0.3 $— $— $0.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $4.4 $— $— $4.4 Securitization recovery trust account 2.2 — — 2.2 Storm reserve escrow account 75.0 — — 75.0 Financial transmission rights — — 0.8 0.8 $81.6 $— $0.8 $82.4 Liabilities: Gas hedge contracts $1.5 $— $— $1.5 Entergy Texas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $249.6 $— $— $249.6 Securitization recovery trust account 12.3 — — 12.3 Financial transmission rights — — 3.3 3.3 $261.9 $— $3.3 $265.2 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $3.0 $— $— $3.0 Securitization recovery trust account 10.9 — — 10.9 Financial transmission rights — — 0.1 0.1 $13.9 $— $0.1 $14.0 System Energy 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $94.5 $— $— $94.5 Decommissioning trust funds (a): Equity securities 4.1 — — 4.1 Debt securities 195.5 257.3 — 452.8 Common trusts (b) 762.3 $294.1 $257.3 $— $1,313.7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $2.9 $— $— $2.9 Decommissioning trust funds (a): Equity securities 2.8 — — 2.8 Debt securities 197.5 262.2 — 459.7 Common trusts (b) 680.4 $203.2 $262.2 $— $1,145.8 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Decommissioning Trust Funds
Decommissioning Trust Funds | 9 Months Ended |
Sep. 30, 2023 | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, and Grand Gulf. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Palisades non-utility nuclear plant did not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds were recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. As discussed in Note 14 to the financial statements in the Form 10-K, in June 2022, Entergy completed the sale of Palisades to Holtec. As part of the transaction, Entergy transferred the Palisades decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $552 million. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($99) million and $272 million, respectively. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $1,660 $1 $222 2022 Debt Securities $1,655 $4 $201 As of September 30, 2023 and December 31, 2022, there were no deferred taxes on unrealized gains/(losses). The amortized cost of available-for-sale debt securities was $1,881 million as of September 30, 2023 and $1,852 million as of December 31, 2022. As of September 30, 2023, available-for-sale debt securities had an average coupon rate of approximately 3.37%, an average duration of approximately 6.30 years, and an average maturity of approximately 10.71 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $585 $30 $840 $63 More than 12 months 1,010 192 666 138 Total $1,595 $222 $1,506 $201 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $80 $62 1 year - 5 years 499 520 5 years - 10 years 477 461 10 years - 15 years 108 117 15 years - 20 years 155 161 20 years+ 341 334 Total $1,660 $1,655 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $226 million and $119 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $11 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $8 million reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $486 million and $755 million, respectively. During the nine months ended September 30, 2023, there were $1 million in gross gains and $28 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $2 million and gross losses of $36 million reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $470.9 $0.1 $78.1 2022 Debt Securities $470.7 $0.2 $69.3 The amortized cost of available-for-sale debt securities was $548.9 million as of September 30, 2023 and $539.8 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 2.58%, an average duration of approximately 5.78 years, and an average maturity of approximately 7.35 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($29.3) million and $80 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $68.8 $4.3 $197.6 $18.8 More than 12 months 391.8 73.8 260.1 50.5 Total $460.6 $78.1 $457.7 $69.3 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $45.6 $21.2 1 year - 5 years 135.8 159.7 5 years - 10 years 189.8 191.7 10 years - 15 years 38.9 38.0 15 years - 20 years 42.2 42.6 20 years+ 18.6 17.5 Total $470.9 $470.7 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $1.8 million and $17.2 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $0.1 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were no gross gains and gross losses of $2 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $18.4 million and $33.1 million, respectively. During the nine months ended September 30, 2023, there were no gross gains and $1.8 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $0.1 million and gross losses of $2.5 million reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $736.8 $1.3 $74.5 2022 Debt Securities $725.1 $3.5 $67.5 The amortized cost of available-for-sale debt securities was $809.9 million as of September 30, 2023 and $789.1 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 3.87%, an average duration of approximately 6.72 years, and an average maturity of approximately 13.11 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($42.3) million and $117.2 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $339.7 $14.9 $409.9 $24.6 More than 12 months 354.9 59.6 207.5 42.9 Total $694.6 $74.5 $617.4 $67.5 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $31.9 $33.6 1 year - 5 years 164.6 159.1 5 years - 10 years 169.2 161.7 10 years - 15 years 64.2 67.1 15 years - 20 years 79.4 83.3 20 years+ 227.5 220.3 Total $736.8 $725.1 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale securities amounted to $148.1 million and $47.6 million, respectively. During the three months ended September 30, 2023, there were no gross gains and gross losses of $8.6 million reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $2.8 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $280.7 million and $288.5 million, respectively. During the nine months ended September 30, 2023, there were gross gains of $0.5 million and gross losses of $17.6 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $1.3 million and gross losses of $15 million reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $452.8 $0.1 $69.8 2022 Debt Securities $459.7 $0.7 $63.7 The amortized cost of available-for-sale debt securities was $522.6 million as of September 30, 2023 and $522.7 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 3.36%, an average duration of approximately 6.15 years, and an average maturity of approximately 10.26 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($27.5) million and $75.2 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $176.1 $11.0 $231.9 $19.2 More than 12 months 263.0 58.8 198.0 44.5 Total $439.1 $69.8 $429.9 $63.7 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $2.7 $6.8 1 year - 5 years 198.9 201.7 5 years - 10 years 118.4 107.1 10 years - 15 years 4.7 11.7 15 years - 20 years 33.1 35.0 20 years+ 95.0 97.4 Total $452.8 $459.7 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $76.2 million and $54.6 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $2.7 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.02 million and gross losses of $3 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $187.3 million and $158.6 million, respectively. During the nine months ended September 30, 2023, there were no gross gains and $9.1 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $8.3 million reclassified out of other regulatory liabilities/assets into earnings. Allowance for expected credit losses Entergy estimates the expected credit losses for its available-for-sale securities based on the current credit rating and remaining life of the securities. To the extent an individual security is determined to be uncollectible, it is written off against this allowance. Entergy’s available-for-sale securities are held in trusts managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Specifically, available-for-sale securities are subject to credit worthiness restrictions, with requirements for both the average credit rating of the portfolio and minimum credit ratings for individual debt securities. Entergy did not have an allowance for expected credit losses related to available-for-sale securities as of September 30, 2023 and December 31, 2022. Entergy did not record any impairments of available- |
Entergy Arkansas [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, and Grand Gulf. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Palisades non-utility nuclear plant did not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds were recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. As discussed in Note 14 to the financial statements in the Form 10-K, in June 2022, Entergy completed the sale of Palisades to Holtec. As part of the transaction, Entergy transferred the Palisades decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $552 million. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($99) million and $272 million, respectively. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $1,660 $1 $222 2022 Debt Securities $1,655 $4 $201 As of September 30, 2023 and December 31, 2022, there were no deferred taxes on unrealized gains/(losses). The amortized cost of available-for-sale debt securities was $1,881 million as of September 30, 2023 and $1,852 million as of December 31, 2022. As of September 30, 2023, available-for-sale debt securities had an average coupon rate of approximately 3.37%, an average duration of approximately 6.30 years, and an average maturity of approximately 10.71 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $585 $30 $840 $63 More than 12 months 1,010 192 666 138 Total $1,595 $222 $1,506 $201 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $80 $62 1 year - 5 years 499 520 5 years - 10 years 477 461 10 years - 15 years 108 117 15 years - 20 years 155 161 20 years+ 341 334 Total $1,660 $1,655 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $226 million and $119 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $11 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $8 million reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $486 million and $755 million, respectively. During the nine months ended September 30, 2023, there were $1 million in gross gains and $28 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $2 million and gross losses of $36 million reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $470.9 $0.1 $78.1 2022 Debt Securities $470.7 $0.2 $69.3 The amortized cost of available-for-sale debt securities was $548.9 million as of September 30, 2023 and $539.8 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 2.58%, an average duration of approximately 5.78 years, and an average maturity of approximately 7.35 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($29.3) million and $80 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $68.8 $4.3 $197.6 $18.8 More than 12 months 391.8 73.8 260.1 50.5 Total $460.6 $78.1 $457.7 $69.3 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $45.6 $21.2 1 year - 5 years 135.8 159.7 5 years - 10 years 189.8 191.7 10 years - 15 years 38.9 38.0 15 years - 20 years 42.2 42.6 20 years+ 18.6 17.5 Total $470.9 $470.7 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $1.8 million and $17.2 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $0.1 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were no gross gains and gross losses of $2 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $18.4 million and $33.1 million, respectively. During the nine months ended September 30, 2023, there were no gross gains and $1.8 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $0.1 million and gross losses of $2.5 million reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $736.8 $1.3 $74.5 2022 Debt Securities $725.1 $3.5 $67.5 The amortized cost of available-for-sale debt securities was $809.9 million as of September 30, 2023 and $789.1 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 3.87%, an average duration of approximately 6.72 years, and an average maturity of approximately 13.11 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($42.3) million and $117.2 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $339.7 $14.9 $409.9 $24.6 More than 12 months 354.9 59.6 207.5 42.9 Total $694.6 $74.5 $617.4 $67.5 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $31.9 $33.6 1 year - 5 years 164.6 159.1 5 years - 10 years 169.2 161.7 10 years - 15 years 64.2 67.1 15 years - 20 years 79.4 83.3 20 years+ 227.5 220.3 Total $736.8 $725.1 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale securities amounted to $148.1 million and $47.6 million, respectively. During the three months ended September 30, 2023, there were no gross gains and gross losses of $8.6 million reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $2.8 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $280.7 million and $288.5 million, respectively. During the nine months ended September 30, 2023, there were gross gains of $0.5 million and gross losses of $17.6 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $1.3 million and gross losses of $15 million reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $452.8 $0.1 $69.8 2022 Debt Securities $459.7 $0.7 $63.7 The amortized cost of available-for-sale debt securities was $522.6 million as of September 30, 2023 and $522.7 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 3.36%, an average duration of approximately 6.15 years, and an average maturity of approximately 10.26 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($27.5) million and $75.2 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $176.1 $11.0 $231.9 $19.2 More than 12 months 263.0 58.8 198.0 44.5 Total $439.1 $69.8 $429.9 $63.7 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $2.7 $6.8 1 year - 5 years 198.9 201.7 5 years - 10 years 118.4 107.1 10 years - 15 years 4.7 11.7 15 years - 20 years 33.1 35.0 20 years+ 95.0 97.4 Total $452.8 $459.7 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $76.2 million and $54.6 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $2.7 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.02 million and gross losses of $3 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $187.3 million and $158.6 million, respectively. During the nine months ended September 30, 2023, there were no gross gains and $9.1 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $8.3 million reclassified out of other regulatory liabilities/assets into earnings. Allowance for expected credit losses Entergy estimates the expected credit losses for its available-for-sale securities based on the current credit rating and remaining life of the securities. To the extent an individual security is determined to be uncollectible, it is written off against this allowance. Entergy’s available-for-sale securities are held in trusts managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Specifically, available-for-sale securities are subject to credit worthiness restrictions, with requirements for both the average credit rating of the portfolio and minimum credit ratings for individual debt securities. Entergy did not have an allowance for expected credit losses related to available-for-sale securities as of September 30, 2023 and December 31, 2022. Entergy did not record any impairments of available- |
Entergy Louisiana [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, and Grand Gulf. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Palisades non-utility nuclear plant did not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds were recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. As discussed in Note 14 to the financial statements in the Form 10-K, in June 2022, Entergy completed the sale of Palisades to Holtec. As part of the transaction, Entergy transferred the Palisades decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $552 million. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($99) million and $272 million, respectively. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $1,660 $1 $222 2022 Debt Securities $1,655 $4 $201 As of September 30, 2023 and December 31, 2022, there were no deferred taxes on unrealized gains/(losses). The amortized cost of available-for-sale debt securities was $1,881 million as of September 30, 2023 and $1,852 million as of December 31, 2022. As of September 30, 2023, available-for-sale debt securities had an average coupon rate of approximately 3.37%, an average duration of approximately 6.30 years, and an average maturity of approximately 10.71 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $585 $30 $840 $63 More than 12 months 1,010 192 666 138 Total $1,595 $222 $1,506 $201 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $80 $62 1 year - 5 years 499 520 5 years - 10 years 477 461 10 years - 15 years 108 117 15 years - 20 years 155 161 20 years+ 341 334 Total $1,660 $1,655 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $226 million and $119 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $11 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $8 million reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $486 million and $755 million, respectively. During the nine months ended September 30, 2023, there were $1 million in gross gains and $28 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $2 million and gross losses of $36 million reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $470.9 $0.1 $78.1 2022 Debt Securities $470.7 $0.2 $69.3 The amortized cost of available-for-sale debt securities was $548.9 million as of September 30, 2023 and $539.8 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 2.58%, an average duration of approximately 5.78 years, and an average maturity of approximately 7.35 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($29.3) million and $80 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $68.8 $4.3 $197.6 $18.8 More than 12 months 391.8 73.8 260.1 50.5 Total $460.6 $78.1 $457.7 $69.3 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $45.6 $21.2 1 year - 5 years 135.8 159.7 5 years - 10 years 189.8 191.7 10 years - 15 years 38.9 38.0 15 years - 20 years 42.2 42.6 20 years+ 18.6 17.5 Total $470.9 $470.7 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $1.8 million and $17.2 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $0.1 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were no gross gains and gross losses of $2 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $18.4 million and $33.1 million, respectively. During the nine months ended September 30, 2023, there were no gross gains and $1.8 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $0.1 million and gross losses of $2.5 million reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $736.8 $1.3 $74.5 2022 Debt Securities $725.1 $3.5 $67.5 The amortized cost of available-for-sale debt securities was $809.9 million as of September 30, 2023 and $789.1 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 3.87%, an average duration of approximately 6.72 years, and an average maturity of approximately 13.11 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($42.3) million and $117.2 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $339.7 $14.9 $409.9 $24.6 More than 12 months 354.9 59.6 207.5 42.9 Total $694.6 $74.5 $617.4 $67.5 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $31.9 $33.6 1 year - 5 years 164.6 159.1 5 years - 10 years 169.2 161.7 10 years - 15 years 64.2 67.1 15 years - 20 years 79.4 83.3 20 years+ 227.5 220.3 Total $736.8 $725.1 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale securities amounted to $148.1 million and $47.6 million, respectively. During the three months ended September 30, 2023, there were no gross gains and gross losses of $8.6 million reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $2.8 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $280.7 million and $288.5 million, respectively. During the nine months ended September 30, 2023, there were gross gains of $0.5 million and gross losses of $17.6 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $1.3 million and gross losses of $15 million reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $452.8 $0.1 $69.8 2022 Debt Securities $459.7 $0.7 $63.7 The amortized cost of available-for-sale debt securities was $522.6 million as of September 30, 2023 and $522.7 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 3.36%, an average duration of approximately 6.15 years, and an average maturity of approximately 10.26 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($27.5) million and $75.2 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $176.1 $11.0 $231.9 $19.2 More than 12 months 263.0 58.8 198.0 44.5 Total $439.1 $69.8 $429.9 $63.7 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $2.7 $6.8 1 year - 5 years 198.9 201.7 5 years - 10 years 118.4 107.1 10 years - 15 years 4.7 11.7 15 years - 20 years 33.1 35.0 20 years+ 95.0 97.4 Total $452.8 $459.7 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $76.2 million and $54.6 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $2.7 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.02 million and gross losses of $3 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $187.3 million and $158.6 million, respectively. During the nine months ended September 30, 2023, there were no gross gains and $9.1 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $8.3 million reclassified out of other regulatory liabilities/assets into earnings. Allowance for expected credit losses Entergy estimates the expected credit losses for its available-for-sale securities based on the current credit rating and remaining life of the securities. To the extent an individual security is determined to be uncollectible, it is written off against this allowance. Entergy’s available-for-sale securities are held in trusts managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Specifically, available-for-sale securities are subject to credit worthiness restrictions, with requirements for both the average credit rating of the portfolio and minimum credit ratings for individual debt securities. Entergy did not have an allowance for expected credit losses related to available-for-sale securities as of September 30, 2023 and December 31, 2022. Entergy did not record any impairments of available- |
System Energy [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, and Grand Gulf. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Palisades non-utility nuclear plant did not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds were recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. As discussed in Note 14 to the financial statements in the Form 10-K, in June 2022, Entergy completed the sale of Palisades to Holtec. As part of the transaction, Entergy transferred the Palisades decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $552 million. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($99) million and $272 million, respectively. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $1,660 $1 $222 2022 Debt Securities $1,655 $4 $201 As of September 30, 2023 and December 31, 2022, there were no deferred taxes on unrealized gains/(losses). The amortized cost of available-for-sale debt securities was $1,881 million as of September 30, 2023 and $1,852 million as of December 31, 2022. As of September 30, 2023, available-for-sale debt securities had an average coupon rate of approximately 3.37%, an average duration of approximately 6.30 years, and an average maturity of approximately 10.71 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $585 $30 $840 $63 More than 12 months 1,010 192 666 138 Total $1,595 $222 $1,506 $201 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $80 $62 1 year - 5 years 499 520 5 years - 10 years 477 461 10 years - 15 years 108 117 15 years - 20 years 155 161 20 years+ 341 334 Total $1,660 $1,655 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $226 million and $119 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $11 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $8 million reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $486 million and $755 million, respectively. During the nine months ended September 30, 2023, there were $1 million in gross gains and $28 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $2 million and gross losses of $36 million reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $470.9 $0.1 $78.1 2022 Debt Securities $470.7 $0.2 $69.3 The amortized cost of available-for-sale debt securities was $548.9 million as of September 30, 2023 and $539.8 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 2.58%, an average duration of approximately 5.78 years, and an average maturity of approximately 7.35 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($29.3) million and $80 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $68.8 $4.3 $197.6 $18.8 More than 12 months 391.8 73.8 260.1 50.5 Total $460.6 $78.1 $457.7 $69.3 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $45.6 $21.2 1 year - 5 years 135.8 159.7 5 years - 10 years 189.8 191.7 10 years - 15 years 38.9 38.0 15 years - 20 years 42.2 42.6 20 years+ 18.6 17.5 Total $470.9 $470.7 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $1.8 million and $17.2 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $0.1 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were no gross gains and gross losses of $2 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $18.4 million and $33.1 million, respectively. During the nine months ended September 30, 2023, there were no gross gains and $1.8 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $0.1 million and gross losses of $2.5 million reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $736.8 $1.3 $74.5 2022 Debt Securities $725.1 $3.5 $67.5 The amortized cost of available-for-sale debt securities was $809.9 million as of September 30, 2023 and $789.1 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 3.87%, an average duration of approximately 6.72 years, and an average maturity of approximately 13.11 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($42.3) million and $117.2 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $339.7 $14.9 $409.9 $24.6 More than 12 months 354.9 59.6 207.5 42.9 Total $694.6 $74.5 $617.4 $67.5 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $31.9 $33.6 1 year - 5 years 164.6 159.1 5 years - 10 years 169.2 161.7 10 years - 15 years 64.2 67.1 15 years - 20 years 79.4 83.3 20 years+ 227.5 220.3 Total $736.8 $725.1 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale securities amounted to $148.1 million and $47.6 million, respectively. During the three months ended September 30, 2023, there were no gross gains and gross losses of $8.6 million reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $2.8 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $280.7 million and $288.5 million, respectively. During the nine months ended September 30, 2023, there were gross gains of $0.5 million and gross losses of $17.6 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $1.3 million and gross losses of $15 million reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $452.8 $0.1 $69.8 2022 Debt Securities $459.7 $0.7 $63.7 The amortized cost of available-for-sale debt securities was $522.6 million as of September 30, 2023 and $522.7 million as of December 31, 2022. As of September 30, 2023, the available-for-sale debt securities had an average coupon rate of approximately 3.36%, an average duration of approximately 6.15 years, and an average maturity of approximately 10.26 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2023 on equity securities still held as of September 30, 2023 were ($27.5) million and $75.2 million, respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $176.1 $11.0 $231.9 $19.2 More than 12 months 263.0 58.8 198.0 44.5 Total $439.1 $69.8 $429.9 $63.7 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $2.7 $6.8 1 year - 5 years 198.9 201.7 5 years - 10 years 118.4 107.1 10 years - 15 years 4.7 11.7 15 years - 20 years 33.1 35.0 20 years+ 95.0 97.4 Total $452.8 $459.7 During the three months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $76.2 million and $54.6 million, respectively. During the three months ended September 30, 2023, there were no gross gains and $2.7 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2022, there were gross gains of $0.02 million and gross losses of $3 million reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2023 and 2022, proceeds from the dispositions of available-for-sale debt securities amounted to $187.3 million and $158.6 million, respectively. During the nine months ended September 30, 2023, there were no gross gains and $9.1 million in gross losses reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2022, there were gross gains of $0.2 million and gross losses of $8.3 million reclassified out of other regulatory liabilities/assets into earnings. Allowance for expected credit losses Entergy estimates the expected credit losses for its available-for-sale securities based on the current credit rating and remaining life of the securities. To the extent an individual security is determined to be uncollectible, it is written off against this allowance. Entergy’s available-for-sale securities are held in trusts managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Specifically, available-for-sale securities are subject to credit worthiness restrictions, with requirements for both the average credit rating of the portfolio and minimum credit ratings for individual debt securities. Entergy did not have an allowance for expected credit losses related to available-for-sale securities as of September 30, 2023 and December 31, 2022. Entergy did not record any impairments of available- |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2023 | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Audits ” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, the Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory authorities. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This manner of regulatory accounting affects the effective tax rate for the period as compared to the statutory tax rate. There was no return of unprotected excess accumulated deferred income taxes for Entergy or the Registrant Subsidiaries for the three months ended September 30, 2023 or for the nine months ended September 30, 2023. For the three months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $16 million for Entergy, including $6 million for Entergy Louisiana and $10 million for Entergy Texas. For the nine months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $50 million for Entergy, including $25 million for Entergy Louisiana, $1 million for Entergy New Orleans, and $24 million for Entergy Texas. Income Tax Audits Entergy and the Registrant Subsidiaries anticipate the resolution of the IRS 2016-2018 audit and expect to record the effects of the adjustments associated with such audit in the fourth quarter of 2023. As described more fully in Note 3 to the financial statements in the Form 10-K, the resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the fourth quarter of 2023. In 2018, Entergy Arkansas adopted a new method of accounting for income tax return purposes in which nuclear decommissioning liabilities are treated as production costs of electricity includable in cost of goods sold. Entergy Arkansas anticipates that the position will be resolved with the IRS upon conclusion of the audit. Entergy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans anticipate resolving with the IRS the mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements. Also included in this IRS audit is the income tax treatment of the 2018 restructuring of Entergy Arkansas. Entergy Arkansas anticipates resolving this tax treatment with the IRS upon conclusion of the audit. Other Tax Matters Act 293 Securitization As described in Note 2 to the financial statements herein, Entergy Louisiana implemented a securitization authorized under Act 293 of the Louisiana Legislature’s Regular Session of 2021 in the first quarter 2023. Act 293 provides that the LURC contribute the net bond proceeds to a LURC-sponsored trust. Over the 15-year term of the Act 293 bonds, the storm trust II will make distributions to Entergy Louisiana, a beneficiary of the storm trust II, that will not be taxable to Entergy Louisiana. Additionally, Entergy Louisiana will not include the receipt of the system restoration charges in taxable income because the right to receive the system restoration charges has been granted directly to the LURC, and Entergy Louisiana only acts as an agent to collect those charges on behalf of the LURC. Accordingly, the securitization provides for a tax accounting permanent difference resulting in a net reduction of income tax expense of approximately $133 million, after taking into account a provision for uncertain tax positions, by Entergy Louisiana. Entergy’s recognition of reduced income tax expense was offset by other tax charges resulting in a net reduction of income tax expense of $129 million, after taking into account a provision for uncertain tax positions. I n recognition of its obligations related to an LPSC ancillary order issued as part of the securitization regulatory proceeding, Entergy Louisiana recorded in first quarter 2023 a $103 million ($76 million net-of-tax) regulatory charge and a corresponding regulatory liability to reflect its obligation to share the benefits of the securitization with its customers. See Note 2 to the financial statements herein for discussion of the Entergy Louisiana March 2023 storm cost securitization. Arkansas Corporate Income Tax Rate Changes In April 2023, Arkansas Act 532 reduced the Arkansas corporate income tax rate from 5.3% to 5.1%. As a result of the rate reduction, Entergy Arkansas accrued a regulatory liability for income taxes of approximately $8 million in second quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. In September 2023, Arkansas Act 6 reduced the Arkansas corporate income tax rate from 5.1% to 4.8%, which will be effective January 1, 2024. As a result of the rate reduction, Entergy Arkansas accrued an additional regulatory liability for income taxes of approximately $14 million in third quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. |
Entergy Arkansas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Audits ” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, the Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory authorities. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This manner of regulatory accounting affects the effective tax rate for the period as compared to the statutory tax rate. There was no return of unprotected excess accumulated deferred income taxes for Entergy or the Registrant Subsidiaries for the three months ended September 30, 2023 or for the nine months ended September 30, 2023. For the three months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $16 million for Entergy, including $6 million for Entergy Louisiana and $10 million for Entergy Texas. For the nine months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $50 million for Entergy, including $25 million for Entergy Louisiana, $1 million for Entergy New Orleans, and $24 million for Entergy Texas. Income Tax Audits Entergy and the Registrant Subsidiaries anticipate the resolution of the IRS 2016-2018 audit and expect to record the effects of the adjustments associated with such audit in the fourth quarter of 2023. As described more fully in Note 3 to the financial statements in the Form 10-K, the resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the fourth quarter of 2023. In 2018, Entergy Arkansas adopted a new method of accounting for income tax return purposes in which nuclear decommissioning liabilities are treated as production costs of electricity includable in cost of goods sold. Entergy Arkansas anticipates that the position will be resolved with the IRS upon conclusion of the audit. Entergy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans anticipate resolving with the IRS the mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements. Also included in this IRS audit is the income tax treatment of the 2018 restructuring of Entergy Arkansas. Entergy Arkansas anticipates resolving this tax treatment with the IRS upon conclusion of the audit. Other Tax Matters Act 293 Securitization As described in Note 2 to the financial statements herein, Entergy Louisiana implemented a securitization authorized under Act 293 of the Louisiana Legislature’s Regular Session of 2021 in the first quarter 2023. Act 293 provides that the LURC contribute the net bond proceeds to a LURC-sponsored trust. Over the 15-year term of the Act 293 bonds, the storm trust II will make distributions to Entergy Louisiana, a beneficiary of the storm trust II, that will not be taxable to Entergy Louisiana. Additionally, Entergy Louisiana will not include the receipt of the system restoration charges in taxable income because the right to receive the system restoration charges has been granted directly to the LURC, and Entergy Louisiana only acts as an agent to collect those charges on behalf of the LURC. Accordingly, the securitization provides for a tax accounting permanent difference resulting in a net reduction of income tax expense of approximately $133 million, after taking into account a provision for uncertain tax positions, by Entergy Louisiana. Entergy’s recognition of reduced income tax expense was offset by other tax charges resulting in a net reduction of income tax expense of $129 million, after taking into account a provision for uncertain tax positions. I n recognition of its obligations related to an LPSC ancillary order issued as part of the securitization regulatory proceeding, Entergy Louisiana recorded in first quarter 2023 a $103 million ($76 million net-of-tax) regulatory charge and a corresponding regulatory liability to reflect its obligation to share the benefits of the securitization with its customers. See Note 2 to the financial statements herein for discussion of the Entergy Louisiana March 2023 storm cost securitization. Arkansas Corporate Income Tax Rate Changes In April 2023, Arkansas Act 532 reduced the Arkansas corporate income tax rate from 5.3% to 5.1%. As a result of the rate reduction, Entergy Arkansas accrued a regulatory liability for income taxes of approximately $8 million in second quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. In September 2023, Arkansas Act 6 reduced the Arkansas corporate income tax rate from 5.1% to 4.8%, which will be effective January 1, 2024. As a result of the rate reduction, Entergy Arkansas accrued an additional regulatory liability for income taxes of approximately $14 million in third quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. |
Entergy Louisiana [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Audits ” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, the Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory authorities. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This manner of regulatory accounting affects the effective tax rate for the period as compared to the statutory tax rate. There was no return of unprotected excess accumulated deferred income taxes for Entergy or the Registrant Subsidiaries for the three months ended September 30, 2023 or for the nine months ended September 30, 2023. For the three months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $16 million for Entergy, including $6 million for Entergy Louisiana and $10 million for Entergy Texas. For the nine months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $50 million for Entergy, including $25 million for Entergy Louisiana, $1 million for Entergy New Orleans, and $24 million for Entergy Texas. Income Tax Audits Entergy and the Registrant Subsidiaries anticipate the resolution of the IRS 2016-2018 audit and expect to record the effects of the adjustments associated with such audit in the fourth quarter of 2023. As described more fully in Note 3 to the financial statements in the Form 10-K, the resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the fourth quarter of 2023. In 2018, Entergy Arkansas adopted a new method of accounting for income tax return purposes in which nuclear decommissioning liabilities are treated as production costs of electricity includable in cost of goods sold. Entergy Arkansas anticipates that the position will be resolved with the IRS upon conclusion of the audit. Entergy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans anticipate resolving with the IRS the mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements. Also included in this IRS audit is the income tax treatment of the 2018 restructuring of Entergy Arkansas. Entergy Arkansas anticipates resolving this tax treatment with the IRS upon conclusion of the audit. Other Tax Matters Act 293 Securitization As described in Note 2 to the financial statements herein, Entergy Louisiana implemented a securitization authorized under Act 293 of the Louisiana Legislature’s Regular Session of 2021 in the first quarter 2023. Act 293 provides that the LURC contribute the net bond proceeds to a LURC-sponsored trust. Over the 15-year term of the Act 293 bonds, the storm trust II will make distributions to Entergy Louisiana, a beneficiary of the storm trust II, that will not be taxable to Entergy Louisiana. Additionally, Entergy Louisiana will not include the receipt of the system restoration charges in taxable income because the right to receive the system restoration charges has been granted directly to the LURC, and Entergy Louisiana only acts as an agent to collect those charges on behalf of the LURC. Accordingly, the securitization provides for a tax accounting permanent difference resulting in a net reduction of income tax expense of approximately $133 million, after taking into account a provision for uncertain tax positions, by Entergy Louisiana. Entergy’s recognition of reduced income tax expense was offset by other tax charges resulting in a net reduction of income tax expense of $129 million, after taking into account a provision for uncertain tax positions. I n recognition of its obligations related to an LPSC ancillary order issued as part of the securitization regulatory proceeding, Entergy Louisiana recorded in first quarter 2023 a $103 million ($76 million net-of-tax) regulatory charge and a corresponding regulatory liability to reflect its obligation to share the benefits of the securitization with its customers. See Note 2 to the financial statements herein for discussion of the Entergy Louisiana March 2023 storm cost securitization. Arkansas Corporate Income Tax Rate Changes In April 2023, Arkansas Act 532 reduced the Arkansas corporate income tax rate from 5.3% to 5.1%. As a result of the rate reduction, Entergy Arkansas accrued a regulatory liability for income taxes of approximately $8 million in second quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. In September 2023, Arkansas Act 6 reduced the Arkansas corporate income tax rate from 5.1% to 4.8%, which will be effective January 1, 2024. As a result of the rate reduction, Entergy Arkansas accrued an additional regulatory liability for income taxes of approximately $14 million in third quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. |
Entergy Mississippi [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Audits ” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, the Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory authorities. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This manner of regulatory accounting affects the effective tax rate for the period as compared to the statutory tax rate. There was no return of unprotected excess accumulated deferred income taxes for Entergy or the Registrant Subsidiaries for the three months ended September 30, 2023 or for the nine months ended September 30, 2023. For the three months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $16 million for Entergy, including $6 million for Entergy Louisiana and $10 million for Entergy Texas. For the nine months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $50 million for Entergy, including $25 million for Entergy Louisiana, $1 million for Entergy New Orleans, and $24 million for Entergy Texas. Income Tax Audits Entergy and the Registrant Subsidiaries anticipate the resolution of the IRS 2016-2018 audit and expect to record the effects of the adjustments associated with such audit in the fourth quarter of 2023. As described more fully in Note 3 to the financial statements in the Form 10-K, the resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the fourth quarter of 2023. In 2018, Entergy Arkansas adopted a new method of accounting for income tax return purposes in which nuclear decommissioning liabilities are treated as production costs of electricity includable in cost of goods sold. Entergy Arkansas anticipates that the position will be resolved with the IRS upon conclusion of the audit. Entergy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans anticipate resolving with the IRS the mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements. Also included in this IRS audit is the income tax treatment of the 2018 restructuring of Entergy Arkansas. Entergy Arkansas anticipates resolving this tax treatment with the IRS upon conclusion of the audit. Other Tax Matters Act 293 Securitization As described in Note 2 to the financial statements herein, Entergy Louisiana implemented a securitization authorized under Act 293 of the Louisiana Legislature’s Regular Session of 2021 in the first quarter 2023. Act 293 provides that the LURC contribute the net bond proceeds to a LURC-sponsored trust. Over the 15-year term of the Act 293 bonds, the storm trust II will make distributions to Entergy Louisiana, a beneficiary of the storm trust II, that will not be taxable to Entergy Louisiana. Additionally, Entergy Louisiana will not include the receipt of the system restoration charges in taxable income because the right to receive the system restoration charges has been granted directly to the LURC, and Entergy Louisiana only acts as an agent to collect those charges on behalf of the LURC. Accordingly, the securitization provides for a tax accounting permanent difference resulting in a net reduction of income tax expense of approximately $133 million, after taking into account a provision for uncertain tax positions, by Entergy Louisiana. Entergy’s recognition of reduced income tax expense was offset by other tax charges resulting in a net reduction of income tax expense of $129 million, after taking into account a provision for uncertain tax positions. I n recognition of its obligations related to an LPSC ancillary order issued as part of the securitization regulatory proceeding, Entergy Louisiana recorded in first quarter 2023 a $103 million ($76 million net-of-tax) regulatory charge and a corresponding regulatory liability to reflect its obligation to share the benefits of the securitization with its customers. See Note 2 to the financial statements herein for discussion of the Entergy Louisiana March 2023 storm cost securitization. Arkansas Corporate Income Tax Rate Changes In April 2023, Arkansas Act 532 reduced the Arkansas corporate income tax rate from 5.3% to 5.1%. As a result of the rate reduction, Entergy Arkansas accrued a regulatory liability for income taxes of approximately $8 million in second quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. In September 2023, Arkansas Act 6 reduced the Arkansas corporate income tax rate from 5.1% to 4.8%, which will be effective January 1, 2024. As a result of the rate reduction, Entergy Arkansas accrued an additional regulatory liability for income taxes of approximately $14 million in third quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. |
Entergy New Orleans [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Audits ” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, the Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory authorities. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This manner of regulatory accounting affects the effective tax rate for the period as compared to the statutory tax rate. There was no return of unprotected excess accumulated deferred income taxes for Entergy or the Registrant Subsidiaries for the three months ended September 30, 2023 or for the nine months ended September 30, 2023. For the three months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $16 million for Entergy, including $6 million for Entergy Louisiana and $10 million for Entergy Texas. For the nine months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $50 million for Entergy, including $25 million for Entergy Louisiana, $1 million for Entergy New Orleans, and $24 million for Entergy Texas. Income Tax Audits Entergy and the Registrant Subsidiaries anticipate the resolution of the IRS 2016-2018 audit and expect to record the effects of the adjustments associated with such audit in the fourth quarter of 2023. As described more fully in Note 3 to the financial statements in the Form 10-K, the resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the fourth quarter of 2023. In 2018, Entergy Arkansas adopted a new method of accounting for income tax return purposes in which nuclear decommissioning liabilities are treated as production costs of electricity includable in cost of goods sold. Entergy Arkansas anticipates that the position will be resolved with the IRS upon conclusion of the audit. Entergy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans anticipate resolving with the IRS the mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements. Also included in this IRS audit is the income tax treatment of the 2018 restructuring of Entergy Arkansas. Entergy Arkansas anticipates resolving this tax treatment with the IRS upon conclusion of the audit. Other Tax Matters Act 293 Securitization As described in Note 2 to the financial statements herein, Entergy Louisiana implemented a securitization authorized under Act 293 of the Louisiana Legislature’s Regular Session of 2021 in the first quarter 2023. Act 293 provides that the LURC contribute the net bond proceeds to a LURC-sponsored trust. Over the 15-year term of the Act 293 bonds, the storm trust II will make distributions to Entergy Louisiana, a beneficiary of the storm trust II, that will not be taxable to Entergy Louisiana. Additionally, Entergy Louisiana will not include the receipt of the system restoration charges in taxable income because the right to receive the system restoration charges has been granted directly to the LURC, and Entergy Louisiana only acts as an agent to collect those charges on behalf of the LURC. Accordingly, the securitization provides for a tax accounting permanent difference resulting in a net reduction of income tax expense of approximately $133 million, after taking into account a provision for uncertain tax positions, by Entergy Louisiana. Entergy’s recognition of reduced income tax expense was offset by other tax charges resulting in a net reduction of income tax expense of $129 million, after taking into account a provision for uncertain tax positions. I n recognition of its obligations related to an LPSC ancillary order issued as part of the securitization regulatory proceeding, Entergy Louisiana recorded in first quarter 2023 a $103 million ($76 million net-of-tax) regulatory charge and a corresponding regulatory liability to reflect its obligation to share the benefits of the securitization with its customers. See Note 2 to the financial statements herein for discussion of the Entergy Louisiana March 2023 storm cost securitization. Arkansas Corporate Income Tax Rate Changes In April 2023, Arkansas Act 532 reduced the Arkansas corporate income tax rate from 5.3% to 5.1%. As a result of the rate reduction, Entergy Arkansas accrued a regulatory liability for income taxes of approximately $8 million in second quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. In September 2023, Arkansas Act 6 reduced the Arkansas corporate income tax rate from 5.1% to 4.8%, which will be effective January 1, 2024. As a result of the rate reduction, Entergy Arkansas accrued an additional regulatory liability for income taxes of approximately $14 million in third quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. |
Entergy Texas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Audits ” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, the Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory authorities. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This manner of regulatory accounting affects the effective tax rate for the period as compared to the statutory tax rate. There was no return of unprotected excess accumulated deferred income taxes for Entergy or the Registrant Subsidiaries for the three months ended September 30, 2023 or for the nine months ended September 30, 2023. For the three months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $16 million for Entergy, including $6 million for Entergy Louisiana and $10 million for Entergy Texas. For the nine months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $50 million for Entergy, including $25 million for Entergy Louisiana, $1 million for Entergy New Orleans, and $24 million for Entergy Texas. Income Tax Audits Entergy and the Registrant Subsidiaries anticipate the resolution of the IRS 2016-2018 audit and expect to record the effects of the adjustments associated with such audit in the fourth quarter of 2023. As described more fully in Note 3 to the financial statements in the Form 10-K, the resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the fourth quarter of 2023. In 2018, Entergy Arkansas adopted a new method of accounting for income tax return purposes in which nuclear decommissioning liabilities are treated as production costs of electricity includable in cost of goods sold. Entergy Arkansas anticipates that the position will be resolved with the IRS upon conclusion of the audit. Entergy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans anticipate resolving with the IRS the mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements. Also included in this IRS audit is the income tax treatment of the 2018 restructuring of Entergy Arkansas. Entergy Arkansas anticipates resolving this tax treatment with the IRS upon conclusion of the audit. Other Tax Matters Act 293 Securitization As described in Note 2 to the financial statements herein, Entergy Louisiana implemented a securitization authorized under Act 293 of the Louisiana Legislature’s Regular Session of 2021 in the first quarter 2023. Act 293 provides that the LURC contribute the net bond proceeds to a LURC-sponsored trust. Over the 15-year term of the Act 293 bonds, the storm trust II will make distributions to Entergy Louisiana, a beneficiary of the storm trust II, that will not be taxable to Entergy Louisiana. Additionally, Entergy Louisiana will not include the receipt of the system restoration charges in taxable income because the right to receive the system restoration charges has been granted directly to the LURC, and Entergy Louisiana only acts as an agent to collect those charges on behalf of the LURC. Accordingly, the securitization provides for a tax accounting permanent difference resulting in a net reduction of income tax expense of approximately $133 million, after taking into account a provision for uncertain tax positions, by Entergy Louisiana. Entergy’s recognition of reduced income tax expense was offset by other tax charges resulting in a net reduction of income tax expense of $129 million, after taking into account a provision for uncertain tax positions. I n recognition of its obligations related to an LPSC ancillary order issued as part of the securitization regulatory proceeding, Entergy Louisiana recorded in first quarter 2023 a $103 million ($76 million net-of-tax) regulatory charge and a corresponding regulatory liability to reflect its obligation to share the benefits of the securitization with its customers. See Note 2 to the financial statements herein for discussion of the Entergy Louisiana March 2023 storm cost securitization. Arkansas Corporate Income Tax Rate Changes In April 2023, Arkansas Act 532 reduced the Arkansas corporate income tax rate from 5.3% to 5.1%. As a result of the rate reduction, Entergy Arkansas accrued a regulatory liability for income taxes of approximately $8 million in second quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. In September 2023, Arkansas Act 6 reduced the Arkansas corporate income tax rate from 5.1% to 4.8%, which will be effective January 1, 2024. As a result of the rate reduction, Entergy Arkansas accrued an additional regulatory liability for income taxes of approximately $14 million in third quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. |
System Energy [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Audits ” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, the Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory authorities. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This manner of regulatory accounting affects the effective tax rate for the period as compared to the statutory tax rate. There was no return of unprotected excess accumulated deferred income taxes for Entergy or the Registrant Subsidiaries for the three months ended September 30, 2023 or for the nine months ended September 30, 2023. For the three months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $16 million for Entergy, including $6 million for Entergy Louisiana and $10 million for Entergy Texas. For the nine months ended September 30, 2022, the return of unprotected excess accumulated deferred income taxes reduced the regulatory liability for income taxes by $50 million for Entergy, including $25 million for Entergy Louisiana, $1 million for Entergy New Orleans, and $24 million for Entergy Texas. Income Tax Audits Entergy and the Registrant Subsidiaries anticipate the resolution of the IRS 2016-2018 audit and expect to record the effects of the adjustments associated with such audit in the fourth quarter of 2023. As described more fully in Note 3 to the financial statements in the Form 10-K, the resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the fourth quarter of 2023. In 2018, Entergy Arkansas adopted a new method of accounting for income tax return purposes in which nuclear decommissioning liabilities are treated as production costs of electricity includable in cost of goods sold. Entergy Arkansas anticipates that the position will be resolved with the IRS upon conclusion of the audit. Entergy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans anticipate resolving with the IRS the mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements. Also included in this IRS audit is the income tax treatment of the 2018 restructuring of Entergy Arkansas. Entergy Arkansas anticipates resolving this tax treatment with the IRS upon conclusion of the audit. Other Tax Matters Act 293 Securitization As described in Note 2 to the financial statements herein, Entergy Louisiana implemented a securitization authorized under Act 293 of the Louisiana Legislature’s Regular Session of 2021 in the first quarter 2023. Act 293 provides that the LURC contribute the net bond proceeds to a LURC-sponsored trust. Over the 15-year term of the Act 293 bonds, the storm trust II will make distributions to Entergy Louisiana, a beneficiary of the storm trust II, that will not be taxable to Entergy Louisiana. Additionally, Entergy Louisiana will not include the receipt of the system restoration charges in taxable income because the right to receive the system restoration charges has been granted directly to the LURC, and Entergy Louisiana only acts as an agent to collect those charges on behalf of the LURC. Accordingly, the securitization provides for a tax accounting permanent difference resulting in a net reduction of income tax expense of approximately $133 million, after taking into account a provision for uncertain tax positions, by Entergy Louisiana. Entergy’s recognition of reduced income tax expense was offset by other tax charges resulting in a net reduction of income tax expense of $129 million, after taking into account a provision for uncertain tax positions. I n recognition of its obligations related to an LPSC ancillary order issued as part of the securitization regulatory proceeding, Entergy Louisiana recorded in first quarter 2023 a $103 million ($76 million net-of-tax) regulatory charge and a corresponding regulatory liability to reflect its obligation to share the benefits of the securitization with its customers. See Note 2 to the financial statements herein for discussion of the Entergy Louisiana March 2023 storm cost securitization. Arkansas Corporate Income Tax Rate Changes In April 2023, Arkansas Act 532 reduced the Arkansas corporate income tax rate from 5.3% to 5.1%. As a result of the rate reduction, Entergy Arkansas accrued a regulatory liability for income taxes of approximately $8 million in second quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. In September 2023, Arkansas Act 6 reduced the Arkansas corporate income tax rate from 5.1% to 4.8%, which will be effective January 1, 2024. As a result of the rate reduction, Entergy Arkansas accrued an additional regulatory liability for income taxes of approximately $14 million in third quarter 2023, including a gross-up for the treatment of income taxes in Entergy Arkansas’s retail and wholesale ratemaking formulas. |
Property, Plant, And Equipment
Property, Plant, And Equipment | 9 Months Ended |
Sep. 30, 2023 | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accrued Construction Expenditures Accrued construction expenditures at September 30, 2023 were $447 million for Entergy, $62 million for Entergy Arkansas, $111.3 million for Entergy Louisiana, $31.2 million for Entergy Mississippi, $4.7 million for Entergy New Orleans, $178.7 million for Entergy Texas, and $16.7 million for System Energy. Accrued construction expenditures at December 31, 2022 were $462 million for Entergy, $93.2 million for Entergy Arkansas, $156.7 million for Entergy Louisiana, $59.5 million for Entergy Mississippi, $11.2 million for Entergy New Orleans, $68.9 million for Entergy Texas, and $29 million for System Energy. |
Entergy Arkansas [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accrued Construction Expenditures Accrued construction expenditures at September 30, 2023 were $447 million for Entergy, $62 million for Entergy Arkansas, $111.3 million for Entergy Louisiana, $31.2 million for Entergy Mississippi, $4.7 million for Entergy New Orleans, $178.7 million for Entergy Texas, and $16.7 million for System Energy. Accrued construction expenditures at December 31, 2022 were $462 million for Entergy, $93.2 million for Entergy Arkansas, $156.7 million for Entergy Louisiana, $59.5 million for Entergy Mississippi, $11.2 million for Entergy New Orleans, $68.9 million for Entergy Texas, and $29 million for System Energy. |
Entergy Louisiana [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accrued Construction Expenditures Accrued construction expenditures at September 30, 2023 were $447 million for Entergy, $62 million for Entergy Arkansas, $111.3 million for Entergy Louisiana, $31.2 million for Entergy Mississippi, $4.7 million for Entergy New Orleans, $178.7 million for Entergy Texas, and $16.7 million for System Energy. Accrued construction expenditures at December 31, 2022 were $462 million for Entergy, $93.2 million for Entergy Arkansas, $156.7 million for Entergy Louisiana, $59.5 million for Entergy Mississippi, $11.2 million for Entergy New Orleans, $68.9 million for Entergy Texas, and $29 million for System Energy. |
Entergy Mississippi [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accrued Construction Expenditures Accrued construction expenditures at September 30, 2023 were $447 million for Entergy, $62 million for Entergy Arkansas, $111.3 million for Entergy Louisiana, $31.2 million for Entergy Mississippi, $4.7 million for Entergy New Orleans, $178.7 million for Entergy Texas, and $16.7 million for System Energy. Accrued construction expenditures at December 31, 2022 were $462 million for Entergy, $93.2 million for Entergy Arkansas, $156.7 million for Entergy Louisiana, $59.5 million for Entergy Mississippi, $11.2 million for Entergy New Orleans, $68.9 million for Entergy Texas, and $29 million for System Energy. |
Entergy New Orleans [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accrued Construction Expenditures Accrued construction expenditures at September 30, 2023 were $447 million for Entergy, $62 million for Entergy Arkansas, $111.3 million for Entergy Louisiana, $31.2 million for Entergy Mississippi, $4.7 million for Entergy New Orleans, $178.7 million for Entergy Texas, and $16.7 million for System Energy. Accrued construction expenditures at December 31, 2022 were $462 million for Entergy, $93.2 million for Entergy Arkansas, $156.7 million for Entergy Louisiana, $59.5 million for Entergy Mississippi, $11.2 million for Entergy New Orleans, $68.9 million for Entergy Texas, and $29 million for System Energy. |
Entergy Texas [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accrued Construction Expenditures Accrued construction expenditures at September 30, 2023 were $447 million for Entergy, $62 million for Entergy Arkansas, $111.3 million for Entergy Louisiana, $31.2 million for Entergy Mississippi, $4.7 million for Entergy New Orleans, $178.7 million for Entergy Texas, and $16.7 million for System Energy. Accrued construction expenditures at December 31, 2022 were $462 million for Entergy, $93.2 million for Entergy Arkansas, $156.7 million for Entergy Louisiana, $59.5 million for Entergy Mississippi, $11.2 million for Entergy New Orleans, $68.9 million for Entergy Texas, and $29 million for System Energy. |
System Energy [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accrued Construction Expenditures Accrued construction expenditures at September 30, 2023 were $447 million for Entergy, $62 million for Entergy Arkansas, $111.3 million for Entergy Louisiana, $31.2 million for Entergy Mississippi, $4.7 million for Entergy New Orleans, $178.7 million for Entergy Texas, and $16.7 million for System Energy. Accrued construction expenditures at December 31, 2022 were $462 million for Entergy, $93.2 million for Entergy Arkansas, $156.7 million for Entergy Louisiana, $59.5 million for Entergy Mississippi, $11.2 million for Entergy New Orleans, $68.9 million for Entergy Texas, and $29 million for System Energy. |
Variable Interest Entities
Variable Interest Entities | 9 Months Ended |
Sep. 30, 2023 | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of variable interest entities (VIEs). See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities, commercial paper borrowings, and long-term debt. See Note 6 to the financial statements in the Form 10-K and Note 3 to the financial statements herein for discussion of noncontrolling interests. Restoration Law Trust I (the storm trust I), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. As of September 30, 2023 and December 31, 2022, the primary asset held by the storm trust I was $3 billion and $3.2 billion, respectively, of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust I is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with balances of $32.1 million as of September 30, 2023 and $31.7 million as of December 31, 2022. Restoration Law Trust II (the storm trust II), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. The storm trust II was established as part of the March 2023 Act 293 securitization of Entergy Louisiana’s Hurricane Ida restoration costs, less Hurricane Ida amounts previously financed in May 2022 in a prior securitization transaction. Entergy Louisiana is the primary beneficiary of the storm trust II because it was created to facilitate the financing of Entergy Louisiana’s storm restoration costs and Entergy Louisiana is entitled to receive a majority of the proceeds received by the storm trust II. As of September 30, 2023, the primary asset held by the storm trust II is the $1.5 billion of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The storm trust II’s investment in affiliate preferred membership interests was purchased with the net bond proceeds of the securitization bonds issued by the LCDA. After the securitization bonds were issued, the LCDA loaned the net bond proceeds to the LURC, and pursuant to Act 293, the LURC contributed the net bond proceeds to the storm trust II. The holders of the securitization bonds do not have recourse to the assets or revenues of the storm trust II or to any Entergy affiliate and the bonds are not reflected in the consolidated balance sheets of Entergy or Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust II is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with a balance of $15.1 million as of September 30, 2023. See Note 2 to the financial statements herein for additional discussion of the securitization bonds and the preferred membership interests. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 5 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $17.2 million in each of the nine months ended September 30, 2023 and the nine months ended September 30, 2022. AR Searcy Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Arkansas is required to consolidate as it is the primary beneficiary. As of September 30, 2023, AR Searcy Partnership, LLC recorded assets equal to $135.4 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $110.6 million. As of December 31, 2022, AR Searcy Partnership, LLC recorded assets equal to $138.3 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $109 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. MS Sunflower Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Mississippi is required to consolidate as it is the primary beneficiary. As of September 30, 2023, MS Sunflower Partnership, LLC recorded assets equal to $164 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $127.2 million. As of December 31, 2022, MS Sunflower Partnership, LLC recorded assets equal to $154.5 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $117.2 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. |
Entergy Arkansas [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of variable interest entities (VIEs). See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities, commercial paper borrowings, and long-term debt. See Note 6 to the financial statements in the Form 10-K and Note 3 to the financial statements herein for discussion of noncontrolling interests. Restoration Law Trust I (the storm trust I), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. As of September 30, 2023 and December 31, 2022, the primary asset held by the storm trust I was $3 billion and $3.2 billion, respectively, of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust I is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with balances of $32.1 million as of September 30, 2023 and $31.7 million as of December 31, 2022. Restoration Law Trust II (the storm trust II), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. The storm trust II was established as part of the March 2023 Act 293 securitization of Entergy Louisiana’s Hurricane Ida restoration costs, less Hurricane Ida amounts previously financed in May 2022 in a prior securitization transaction. Entergy Louisiana is the primary beneficiary of the storm trust II because it was created to facilitate the financing of Entergy Louisiana’s storm restoration costs and Entergy Louisiana is entitled to receive a majority of the proceeds received by the storm trust II. As of September 30, 2023, the primary asset held by the storm trust II is the $1.5 billion of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The storm trust II’s investment in affiliate preferred membership interests was purchased with the net bond proceeds of the securitization bonds issued by the LCDA. After the securitization bonds were issued, the LCDA loaned the net bond proceeds to the LURC, and pursuant to Act 293, the LURC contributed the net bond proceeds to the storm trust II. The holders of the securitization bonds do not have recourse to the assets or revenues of the storm trust II or to any Entergy affiliate and the bonds are not reflected in the consolidated balance sheets of Entergy or Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust II is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with a balance of $15.1 million as of September 30, 2023. See Note 2 to the financial statements herein for additional discussion of the securitization bonds and the preferred membership interests. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 5 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $17.2 million in each of the nine months ended September 30, 2023 and the nine months ended September 30, 2022. AR Searcy Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Arkansas is required to consolidate as it is the primary beneficiary. As of September 30, 2023, AR Searcy Partnership, LLC recorded assets equal to $135.4 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $110.6 million. As of December 31, 2022, AR Searcy Partnership, LLC recorded assets equal to $138.3 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $109 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. MS Sunflower Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Mississippi is required to consolidate as it is the primary beneficiary. As of September 30, 2023, MS Sunflower Partnership, LLC recorded assets equal to $164 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $127.2 million. As of December 31, 2022, MS Sunflower Partnership, LLC recorded assets equal to $154.5 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $117.2 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. |
Entergy Louisiana [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of variable interest entities (VIEs). See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities, commercial paper borrowings, and long-term debt. See Note 6 to the financial statements in the Form 10-K and Note 3 to the financial statements herein for discussion of noncontrolling interests. Restoration Law Trust I (the storm trust I), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. As of September 30, 2023 and December 31, 2022, the primary asset held by the storm trust I was $3 billion and $3.2 billion, respectively, of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust I is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with balances of $32.1 million as of September 30, 2023 and $31.7 million as of December 31, 2022. Restoration Law Trust II (the storm trust II), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. The storm trust II was established as part of the March 2023 Act 293 securitization of Entergy Louisiana’s Hurricane Ida restoration costs, less Hurricane Ida amounts previously financed in May 2022 in a prior securitization transaction. Entergy Louisiana is the primary beneficiary of the storm trust II because it was created to facilitate the financing of Entergy Louisiana’s storm restoration costs and Entergy Louisiana is entitled to receive a majority of the proceeds received by the storm trust II. As of September 30, 2023, the primary asset held by the storm trust II is the $1.5 billion of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The storm trust II’s investment in affiliate preferred membership interests was purchased with the net bond proceeds of the securitization bonds issued by the LCDA. After the securitization bonds were issued, the LCDA loaned the net bond proceeds to the LURC, and pursuant to Act 293, the LURC contributed the net bond proceeds to the storm trust II. The holders of the securitization bonds do not have recourse to the assets or revenues of the storm trust II or to any Entergy affiliate and the bonds are not reflected in the consolidated balance sheets of Entergy or Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust II is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with a balance of $15.1 million as of September 30, 2023. See Note 2 to the financial statements herein for additional discussion of the securitization bonds and the preferred membership interests. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 5 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $17.2 million in each of the nine months ended September 30, 2023 and the nine months ended September 30, 2022. AR Searcy Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Arkansas is required to consolidate as it is the primary beneficiary. As of September 30, 2023, AR Searcy Partnership, LLC recorded assets equal to $135.4 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $110.6 million. As of December 31, 2022, AR Searcy Partnership, LLC recorded assets equal to $138.3 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $109 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. MS Sunflower Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Mississippi is required to consolidate as it is the primary beneficiary. As of September 30, 2023, MS Sunflower Partnership, LLC recorded assets equal to $164 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $127.2 million. As of December 31, 2022, MS Sunflower Partnership, LLC recorded assets equal to $154.5 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $117.2 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. |
Entergy Mississippi [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of variable interest entities (VIEs). See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities, commercial paper borrowings, and long-term debt. See Note 6 to the financial statements in the Form 10-K and Note 3 to the financial statements herein for discussion of noncontrolling interests. Restoration Law Trust I (the storm trust I), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. As of September 30, 2023 and December 31, 2022, the primary asset held by the storm trust I was $3 billion and $3.2 billion, respectively, of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust I is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with balances of $32.1 million as of September 30, 2023 and $31.7 million as of December 31, 2022. Restoration Law Trust II (the storm trust II), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. The storm trust II was established as part of the March 2023 Act 293 securitization of Entergy Louisiana’s Hurricane Ida restoration costs, less Hurricane Ida amounts previously financed in May 2022 in a prior securitization transaction. Entergy Louisiana is the primary beneficiary of the storm trust II because it was created to facilitate the financing of Entergy Louisiana’s storm restoration costs and Entergy Louisiana is entitled to receive a majority of the proceeds received by the storm trust II. As of September 30, 2023, the primary asset held by the storm trust II is the $1.5 billion of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The storm trust II’s investment in affiliate preferred membership interests was purchased with the net bond proceeds of the securitization bonds issued by the LCDA. After the securitization bonds were issued, the LCDA loaned the net bond proceeds to the LURC, and pursuant to Act 293, the LURC contributed the net bond proceeds to the storm trust II. The holders of the securitization bonds do not have recourse to the assets or revenues of the storm trust II or to any Entergy affiliate and the bonds are not reflected in the consolidated balance sheets of Entergy or Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust II is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with a balance of $15.1 million as of September 30, 2023. See Note 2 to the financial statements herein for additional discussion of the securitization bonds and the preferred membership interests. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 5 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $17.2 million in each of the nine months ended September 30, 2023 and the nine months ended September 30, 2022. AR Searcy Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Arkansas is required to consolidate as it is the primary beneficiary. As of September 30, 2023, AR Searcy Partnership, LLC recorded assets equal to $135.4 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $110.6 million. As of December 31, 2022, AR Searcy Partnership, LLC recorded assets equal to $138.3 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $109 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. MS Sunflower Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Mississippi is required to consolidate as it is the primary beneficiary. As of September 30, 2023, MS Sunflower Partnership, LLC recorded assets equal to $164 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $127.2 million. As of December 31, 2022, MS Sunflower Partnership, LLC recorded assets equal to $154.5 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $117.2 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. |
Entergy New Orleans [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of variable interest entities (VIEs). See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities, commercial paper borrowings, and long-term debt. See Note 6 to the financial statements in the Form 10-K and Note 3 to the financial statements herein for discussion of noncontrolling interests. Restoration Law Trust I (the storm trust I), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. As of September 30, 2023 and December 31, 2022, the primary asset held by the storm trust I was $3 billion and $3.2 billion, respectively, of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust I is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with balances of $32.1 million as of September 30, 2023 and $31.7 million as of December 31, 2022. Restoration Law Trust II (the storm trust II), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. The storm trust II was established as part of the March 2023 Act 293 securitization of Entergy Louisiana’s Hurricane Ida restoration costs, less Hurricane Ida amounts previously financed in May 2022 in a prior securitization transaction. Entergy Louisiana is the primary beneficiary of the storm trust II because it was created to facilitate the financing of Entergy Louisiana’s storm restoration costs and Entergy Louisiana is entitled to receive a majority of the proceeds received by the storm trust II. As of September 30, 2023, the primary asset held by the storm trust II is the $1.5 billion of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The storm trust II’s investment in affiliate preferred membership interests was purchased with the net bond proceeds of the securitization bonds issued by the LCDA. After the securitization bonds were issued, the LCDA loaned the net bond proceeds to the LURC, and pursuant to Act 293, the LURC contributed the net bond proceeds to the storm trust II. The holders of the securitization bonds do not have recourse to the assets or revenues of the storm trust II or to any Entergy affiliate and the bonds are not reflected in the consolidated balance sheets of Entergy or Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust II is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with a balance of $15.1 million as of September 30, 2023. See Note 2 to the financial statements herein for additional discussion of the securitization bonds and the preferred membership interests. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 5 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $17.2 million in each of the nine months ended September 30, 2023 and the nine months ended September 30, 2022. AR Searcy Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Arkansas is required to consolidate as it is the primary beneficiary. As of September 30, 2023, AR Searcy Partnership, LLC recorded assets equal to $135.4 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $110.6 million. As of December 31, 2022, AR Searcy Partnership, LLC recorded assets equal to $138.3 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $109 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. MS Sunflower Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Mississippi is required to consolidate as it is the primary beneficiary. As of September 30, 2023, MS Sunflower Partnership, LLC recorded assets equal to $164 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $127.2 million. As of December 31, 2022, MS Sunflower Partnership, LLC recorded assets equal to $154.5 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $117.2 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. |
Entergy Texas [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of variable interest entities (VIEs). See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities, commercial paper borrowings, and long-term debt. See Note 6 to the financial statements in the Form 10-K and Note 3 to the financial statements herein for discussion of noncontrolling interests. Restoration Law Trust I (the storm trust I), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. As of September 30, 2023 and December 31, 2022, the primary asset held by the storm trust I was $3 billion and $3.2 billion, respectively, of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust I is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with balances of $32.1 million as of September 30, 2023 and $31.7 million as of December 31, 2022. Restoration Law Trust II (the storm trust II), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. The storm trust II was established as part of the March 2023 Act 293 securitization of Entergy Louisiana’s Hurricane Ida restoration costs, less Hurricane Ida amounts previously financed in May 2022 in a prior securitization transaction. Entergy Louisiana is the primary beneficiary of the storm trust II because it was created to facilitate the financing of Entergy Louisiana’s storm restoration costs and Entergy Louisiana is entitled to receive a majority of the proceeds received by the storm trust II. As of September 30, 2023, the primary asset held by the storm trust II is the $1.5 billion of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The storm trust II’s investment in affiliate preferred membership interests was purchased with the net bond proceeds of the securitization bonds issued by the LCDA. After the securitization bonds were issued, the LCDA loaned the net bond proceeds to the LURC, and pursuant to Act 293, the LURC contributed the net bond proceeds to the storm trust II. The holders of the securitization bonds do not have recourse to the assets or revenues of the storm trust II or to any Entergy affiliate and the bonds are not reflected in the consolidated balance sheets of Entergy or Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust II is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with a balance of $15.1 million as of September 30, 2023. See Note 2 to the financial statements herein for additional discussion of the securitization bonds and the preferred membership interests. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 5 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $17.2 million in each of the nine months ended September 30, 2023 and the nine months ended September 30, 2022. AR Searcy Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Arkansas is required to consolidate as it is the primary beneficiary. As of September 30, 2023, AR Searcy Partnership, LLC recorded assets equal to $135.4 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $110.6 million. As of December 31, 2022, AR Searcy Partnership, LLC recorded assets equal to $138.3 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $109 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. MS Sunflower Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Mississippi is required to consolidate as it is the primary beneficiary. As of September 30, 2023, MS Sunflower Partnership, LLC recorded assets equal to $164 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $127.2 million. As of December 31, 2022, MS Sunflower Partnership, LLC recorded assets equal to $154.5 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $117.2 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. |
System Energy [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of variable interest entities (VIEs). See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities, commercial paper borrowings, and long-term debt. See Note 6 to the financial statements in the Form 10-K and Note 3 to the financial statements herein for discussion of noncontrolling interests. Restoration Law Trust I (the storm trust I), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. As of September 30, 2023 and December 31, 2022, the primary asset held by the storm trust I was $3 billion and $3.2 billion, respectively, of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust I is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with balances of $32.1 million as of September 30, 2023 and $31.7 million as of December 31, 2022. Restoration Law Trust II (the storm trust II), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary. The storm trust II was established as part of the March 2023 Act 293 securitization of Entergy Louisiana’s Hurricane Ida restoration costs, less Hurricane Ida amounts previously financed in May 2022 in a prior securitization transaction. Entergy Louisiana is the primary beneficiary of the storm trust II because it was created to facilitate the financing of Entergy Louisiana’s storm restoration costs and Entergy Louisiana is entitled to receive a majority of the proceeds received by the storm trust II. As of September 30, 2023, the primary asset held by the storm trust II is the $1.5 billion of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana. The storm trust II’s investment in affiliate preferred membership interests was purchased with the net bond proceeds of the securitization bonds issued by the LCDA. After the securitization bonds were issued, the LCDA loaned the net bond proceeds to the LURC, and pursuant to Act 293, the LURC contributed the net bond proceeds to the storm trust II. The holders of the securitization bonds do not have recourse to the assets or revenues of the storm trust II or to any Entergy affiliate and the bonds are not reflected in the consolidated balance sheets of Entergy or Entergy Louisiana. The LURC’s 1% beneficial interest in the storm trust II is presented as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with a balance of $15.1 million as of September 30, 2023. See Note 2 to the financial statements herein for additional discussion of the securitization bonds and the preferred membership interests. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 5 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $17.2 million in each of the nine months ended September 30, 2023 and the nine months ended September 30, 2022. AR Searcy Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Arkansas is required to consolidate as it is the primary beneficiary. As of September 30, 2023, AR Searcy Partnership, LLC recorded assets equal to $135.4 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $110.6 million. As of December 31, 2022, AR Searcy Partnership, LLC recorded assets equal to $138.3 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Arkansas’s ownership interest in the partnership was approximately $109 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. MS Sunflower Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Mississippi is required to consolidate as it is the primary beneficiary. As of September 30, 2023, MS Sunflower Partnership, LLC recorded assets equal to $164 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $127.2 million. As of December 31, 2022, MS Sunflower Partnership, LLC recorded assets equal to $154.5 million, primarily consisting of property, plant, and equipment, and the carrying value of Entergy Mississippi’s ownership interest in the partnership was approximately $117.2 million. The tax equity investor’s ownership interest is recorded as noncontrolling interest. |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2023 | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating Revenues See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $1,602,496 $1,570,940 Commercial 884,585 940,604 Industrial 797,982 1,109,245 Governmental 73,846 84,649 Total billed retail 3,358,909 3,705,438 Sales for resale (a) 86,505 311,479 Other electric revenues (b) 66,211 83,679 Revenues from contracts with customers 3,511,625 4,100,596 Other Utility revenues (c) 15,310 9,462 Electric revenues 3,526,935 4,110,058 Natural gas revenues 32,305 46,548 Other revenues (d) 36,282 62,009 Total operating revenues $3,595,522 $4,218,615 Entergy’s total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $3,595,378 $3,592,025 Commercial 2,291,673 2,290,893 Industrial 2,411,882 2,731,075 Governmental 204,999 209,044 Total billed retail 8,503,932 8,823,037 Sales for resale (a) 262,714 689,473 Other electric revenues (b) 358,000 420,710 Revenues from contracts with customers 9,124,646 9,933,220 Other Utility revenues (c) 70,942 90,869 Electric revenues 9,195,588 10,024,089 Natural gas revenues 130,389 166,917 Other revenues (d) 96,630 300,731 Total operating revenues $9,422,607 $10,491,737 The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. Allowance for doubtful accounts The allowance for doubtful accounts reflects Entergy’s best estimate of expected losses on its accounts receivable balances. Due to the essential nature of utility services, Entergy has historically experienced a low rate of default on its accounts receivables. The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. The allowance for currently expected credit losses is calculated as the historical rate of customer write-offs multiplied by the current accounts receivable balance, taking into account the length of time the receivable balances have been outstanding. The rate of customer write-offs has historically experienced minimal variation, although general economic conditions, such as the COVID-19 pandemic or other economic hardships, can affect the rate of customer write-offs. Management monitors the current condition of individual customer accounts to manage collections and ensure bad debt expense is recorded in a timely manner. |
Entergy Arkansas [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating Revenues See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $1,602,496 $1,570,940 Commercial 884,585 940,604 Industrial 797,982 1,109,245 Governmental 73,846 84,649 Total billed retail 3,358,909 3,705,438 Sales for resale (a) 86,505 311,479 Other electric revenues (b) 66,211 83,679 Revenues from contracts with customers 3,511,625 4,100,596 Other Utility revenues (c) 15,310 9,462 Electric revenues 3,526,935 4,110,058 Natural gas revenues 32,305 46,548 Other revenues (d) 36,282 62,009 Total operating revenues $3,595,522 $4,218,615 Entergy’s total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $3,595,378 $3,592,025 Commercial 2,291,673 2,290,893 Industrial 2,411,882 2,731,075 Governmental 204,999 209,044 Total billed retail 8,503,932 8,823,037 Sales for resale (a) 262,714 689,473 Other electric revenues (b) 358,000 420,710 Revenues from contracts with customers 9,124,646 9,933,220 Other Utility revenues (c) 70,942 90,869 Electric revenues 9,195,588 10,024,089 Natural gas revenues 130,389 166,917 Other revenues (d) 96,630 300,731 Total operating revenues $9,422,607 $10,491,737 The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. Allowance for doubtful accounts The allowance for doubtful accounts reflects Entergy’s best estimate of expected losses on its accounts receivable balances. Due to the essential nature of utility services, Entergy has historically experienced a low rate of default on its accounts receivables. The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. The allowance for currently expected credit losses is calculated as the historical rate of customer write-offs multiplied by the current accounts receivable balance, taking into account the length of time the receivable balances have been outstanding. The rate of customer write-offs has historically experienced minimal variation, although general economic conditions, such as the COVID-19 pandemic or other economic hardships, can affect the rate of customer write-offs. Management monitors the current condition of individual customer accounts to manage collections and ensure bad debt expense is recorded in a timely manner. |
Entergy Louisiana [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating Revenues See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $1,602,496 $1,570,940 Commercial 884,585 940,604 Industrial 797,982 1,109,245 Governmental 73,846 84,649 Total billed retail 3,358,909 3,705,438 Sales for resale (a) 86,505 311,479 Other electric revenues (b) 66,211 83,679 Revenues from contracts with customers 3,511,625 4,100,596 Other Utility revenues (c) 15,310 9,462 Electric revenues 3,526,935 4,110,058 Natural gas revenues 32,305 46,548 Other revenues (d) 36,282 62,009 Total operating revenues $3,595,522 $4,218,615 Entergy’s total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $3,595,378 $3,592,025 Commercial 2,291,673 2,290,893 Industrial 2,411,882 2,731,075 Governmental 204,999 209,044 Total billed retail 8,503,932 8,823,037 Sales for resale (a) 262,714 689,473 Other electric revenues (b) 358,000 420,710 Revenues from contracts with customers 9,124,646 9,933,220 Other Utility revenues (c) 70,942 90,869 Electric revenues 9,195,588 10,024,089 Natural gas revenues 130,389 166,917 Other revenues (d) 96,630 300,731 Total operating revenues $9,422,607 $10,491,737 The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. Allowance for doubtful accounts The allowance for doubtful accounts reflects Entergy’s best estimate of expected losses on its accounts receivable balances. Due to the essential nature of utility services, Entergy has historically experienced a low rate of default on its accounts receivables. The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. The allowance for currently expected credit losses is calculated as the historical rate of customer write-offs multiplied by the current accounts receivable balance, taking into account the length of time the receivable balances have been outstanding. The rate of customer write-offs has historically experienced minimal variation, although general economic conditions, such as the COVID-19 pandemic or other economic hardships, can affect the rate of customer write-offs. Management monitors the current condition of individual customer accounts to manage collections and ensure bad debt expense is recorded in a timely manner. |
Entergy Mississippi [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating Revenues See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $1,602,496 $1,570,940 Commercial 884,585 940,604 Industrial 797,982 1,109,245 Governmental 73,846 84,649 Total billed retail 3,358,909 3,705,438 Sales for resale (a) 86,505 311,479 Other electric revenues (b) 66,211 83,679 Revenues from contracts with customers 3,511,625 4,100,596 Other Utility revenues (c) 15,310 9,462 Electric revenues 3,526,935 4,110,058 Natural gas revenues 32,305 46,548 Other revenues (d) 36,282 62,009 Total operating revenues $3,595,522 $4,218,615 Entergy’s total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $3,595,378 $3,592,025 Commercial 2,291,673 2,290,893 Industrial 2,411,882 2,731,075 Governmental 204,999 209,044 Total billed retail 8,503,932 8,823,037 Sales for resale (a) 262,714 689,473 Other electric revenues (b) 358,000 420,710 Revenues from contracts with customers 9,124,646 9,933,220 Other Utility revenues (c) 70,942 90,869 Electric revenues 9,195,588 10,024,089 Natural gas revenues 130,389 166,917 Other revenues (d) 96,630 300,731 Total operating revenues $9,422,607 $10,491,737 The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. Allowance for doubtful accounts The allowance for doubtful accounts reflects Entergy’s best estimate of expected losses on its accounts receivable balances. Due to the essential nature of utility services, Entergy has historically experienced a low rate of default on its accounts receivables. The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. The allowance for currently expected credit losses is calculated as the historical rate of customer write-offs multiplied by the current accounts receivable balance, taking into account the length of time the receivable balances have been outstanding. The rate of customer write-offs has historically experienced minimal variation, although general economic conditions, such as the COVID-19 pandemic or other economic hardships, can affect the rate of customer write-offs. Management monitors the current condition of individual customer accounts to manage collections and ensure bad debt expense is recorded in a timely manner. |
Entergy New Orleans [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating Revenues See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $1,602,496 $1,570,940 Commercial 884,585 940,604 Industrial 797,982 1,109,245 Governmental 73,846 84,649 Total billed retail 3,358,909 3,705,438 Sales for resale (a) 86,505 311,479 Other electric revenues (b) 66,211 83,679 Revenues from contracts with customers 3,511,625 4,100,596 Other Utility revenues (c) 15,310 9,462 Electric revenues 3,526,935 4,110,058 Natural gas revenues 32,305 46,548 Other revenues (d) 36,282 62,009 Total operating revenues $3,595,522 $4,218,615 Entergy’s total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $3,595,378 $3,592,025 Commercial 2,291,673 2,290,893 Industrial 2,411,882 2,731,075 Governmental 204,999 209,044 Total billed retail 8,503,932 8,823,037 Sales for resale (a) 262,714 689,473 Other electric revenues (b) 358,000 420,710 Revenues from contracts with customers 9,124,646 9,933,220 Other Utility revenues (c) 70,942 90,869 Electric revenues 9,195,588 10,024,089 Natural gas revenues 130,389 166,917 Other revenues (d) 96,630 300,731 Total operating revenues $9,422,607 $10,491,737 The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. Allowance for doubtful accounts The allowance for doubtful accounts reflects Entergy’s best estimate of expected losses on its accounts receivable balances. Due to the essential nature of utility services, Entergy has historically experienced a low rate of default on its accounts receivables. The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. The allowance for currently expected credit losses is calculated as the historical rate of customer write-offs multiplied by the current accounts receivable balance, taking into account the length of time the receivable balances have been outstanding. The rate of customer write-offs has historically experienced minimal variation, although general economic conditions, such as the COVID-19 pandemic or other economic hardships, can affect the rate of customer write-offs. Management monitors the current condition of individual customer accounts to manage collections and ensure bad debt expense is recorded in a timely manner. |
Entergy Texas [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating Revenues See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $1,602,496 $1,570,940 Commercial 884,585 940,604 Industrial 797,982 1,109,245 Governmental 73,846 84,649 Total billed retail 3,358,909 3,705,438 Sales for resale (a) 86,505 311,479 Other electric revenues (b) 66,211 83,679 Revenues from contracts with customers 3,511,625 4,100,596 Other Utility revenues (c) 15,310 9,462 Electric revenues 3,526,935 4,110,058 Natural gas revenues 32,305 46,548 Other revenues (d) 36,282 62,009 Total operating revenues $3,595,522 $4,218,615 Entergy’s total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $3,595,378 $3,592,025 Commercial 2,291,673 2,290,893 Industrial 2,411,882 2,731,075 Governmental 204,999 209,044 Total billed retail 8,503,932 8,823,037 Sales for resale (a) 262,714 689,473 Other electric revenues (b) 358,000 420,710 Revenues from contracts with customers 9,124,646 9,933,220 Other Utility revenues (c) 70,942 90,869 Electric revenues 9,195,588 10,024,089 Natural gas revenues 130,389 166,917 Other revenues (d) 96,630 300,731 Total operating revenues $9,422,607 $10,491,737 The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. Allowance for doubtful accounts The allowance for doubtful accounts reflects Entergy’s best estimate of expected losses on its accounts receivable balances. Due to the essential nature of utility services, Entergy has historically experienced a low rate of default on its accounts receivables. The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. The allowance for currently expected credit losses is calculated as the historical rate of customer write-offs multiplied by the current accounts receivable balance, taking into account the length of time the receivable balances have been outstanding. The rate of customer write-offs has historically experienced minimal variation, although general economic conditions, such as the COVID-19 pandemic or other economic hardships, can affect the rate of customer write-offs. Management monitors the current condition of individual customer accounts to manage collections and ensure bad debt expense is recorded in a timely manner. |
System Energy [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating Revenues See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $1,602,496 $1,570,940 Commercial 884,585 940,604 Industrial 797,982 1,109,245 Governmental 73,846 84,649 Total billed retail 3,358,909 3,705,438 Sales for resale (a) 86,505 311,479 Other electric revenues (b) 66,211 83,679 Revenues from contracts with customers 3,511,625 4,100,596 Other Utility revenues (c) 15,310 9,462 Electric revenues 3,526,935 4,110,058 Natural gas revenues 32,305 46,548 Other revenues (d) 36,282 62,009 Total operating revenues $3,595,522 $4,218,615 Entergy’s total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $3,595,378 $3,592,025 Commercial 2,291,673 2,290,893 Industrial 2,411,882 2,731,075 Governmental 204,999 209,044 Total billed retail 8,503,932 8,823,037 Sales for resale (a) 262,714 689,473 Other electric revenues (b) 358,000 420,710 Revenues from contracts with customers 9,124,646 9,933,220 Other Utility revenues (c) 70,942 90,869 Electric revenues 9,195,588 10,024,089 Natural gas revenues 130,389 166,917 Other revenues (d) 96,630 300,731 Total operating revenues $9,422,607 $10,491,737 The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. Allowance for doubtful accounts The allowance for doubtful accounts reflects Entergy’s best estimate of expected losses on its accounts receivable balances. Due to the essential nature of utility services, Entergy has historically experienced a low rate of default on its accounts receivables. The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. The allowance for currently expected credit losses is calculated as the historical rate of customer write-offs multiplied by the current accounts receivable balance, taking into account the length of time the receivable balances have been outstanding. The rate of customer write-offs has historically experienced minimal variation, although general economic conditions, such as the COVID-19 pandemic or other economic hardships, can affect the rate of customer write-offs. Management monitors the current condition of individual customer accounts to manage collections and ensure bad debt expense is recorded in a timely manner. |
Asset Retirement Obligations
Asset Retirement Obligations | 9 Months Ended |
Sep. 30, 2023 | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following is an update to that discussion. In third quarter 2023, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in a $10.8 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining useful life of the unit. |
Entergy Arkansas [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following is an update to that discussion. In third quarter 2023, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in a $10.8 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining useful life of the unit. |
Entergy Louisiana [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following is an update to that discussion. In third quarter 2023, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in a $10.8 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining useful life of the unit. |
Entergy Mississippi [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following is an update to that discussion. In third quarter 2023, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in a $10.8 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining useful life of the unit. |
Entergy New Orleans [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following is an update to that discussion. In third quarter 2023, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in a $10.8 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining useful life of the unit. |
Entergy Texas [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following is an update to that discussion. In third quarter 2023, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in a $10.8 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining useful life of the unit. |
System Energy [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following is an update to that discussion. In third quarter 2023, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in a $10.8 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining useful life of the unit. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Pay vs Performance Disclosure | ||||
Net Income (Loss) | $ 666.8 | $ 560.6 | $ 1,368.9 | $ 996.7 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Sep. 30, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Equity (Tables)
Equity (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Schedule Of Earnings Per Share Basic And Diluted | The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Three Months Ended September 30, 2023 2022 (In Millions, Except Per Share Data) $/share $/share Net income attributable to Entergy Corporation $666.8 $560.6 Basic shares and earnings per average common share 211.5 $3.15 203.4 $2.76 Average dilutive effect of: Stock options 0.2 — 0.5 (0.01) Other equity plans 0.5 (0.01) 0.6 (0.01) Equity forwards — — 0.1 — Diluted shares and earnings per average common shares 212.2 $3.14 204.6 $2.74 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was 1,305,354 options for the three months ended September 30, 2023 and 926,403 options for the three months ended September 30, 2022. The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Nine Months Ended September 30, 2023 2022 (In Millions, Except Per Share Data) $/share $/share Net income attributable to Entergy Corporation $1,368.9 $996.7 Basic shares and earnings per average common share 211.4 $6.47 203.3 $4.90 Average dilutive effect of: Stock options 0.3 (0.01) 0.5 (0.01) Other equity plans 0.5 (0.01) 0.5 (0.01) Equity forwards — — 0.1 — Diluted shares and earnings per average common shares 212.2 $6.45 204.4 $4.88 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was 1,138,384 options for the nine months ended September 30, 2023 and 937,350 options for the nine months ended September 30, 2022. |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2023: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, July 1, 2023 ($193,019) Amounts reclassified from accumulated other comprehensive income (loss) (2,434) Net other comprehensive income (loss) for the period (2,434) Ending balance, September 30, 2023 ($195,453) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2022 by component: Cash flow Pension Net Total (In Thousands) Beginning balance, July 1, 2022 ($987) ($324,274) $1,223 ($324,038) Other comprehensive income (loss) before reclassifications (14) — (1,223) (1,237) Amounts reclassified from accumulated other comprehensive income 38 11,867 — 11,905 Net other comprehensive income (loss) for the period 24 11,867 (1,223) 10,668 Ending balance, September 30, 2022 ($963) ($312,407) $— ($313,370) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2023: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2023 ($191,754) Amounts reclassified from accumulated other comprehensive income (loss) (3,699) Net other comprehensive income (loss) for the period (3,699) Ending balance, September 30, 2023 ($195,453) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2022 by component: Cash flow Pension Net Total (In Thousands) Beginning balance, January 1, 2022 ($1,035) ($338,647) $7,154 ($332,528) Other comprehensive income (loss) before reclassifications (42) — (12,997) (13,039) Amounts reclassified from accumulated other comprehensive income (loss) 114 26,240 5,843 32,197 Net other comprehensive income (loss) for the period 72 26,240 (7,154) 19,158 Ending balance, September 30, 2022 ($963) ($312,407) $— ($313,370) |
Reclassification out of Accumulated Other Comprehensive Income | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the three months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Cash flow hedges net unrealized loss Interest rate swaps $— ($48) Miscellaneous - net Total realized loss on cash flow hedges — (48) Income taxes — 10 Income taxes Total realized loss on cash flow hedges (net of tax) $— ($38) Pension and other postretirement liabilities Amortization of prior-service credit $3,396 $3,837 (a) Amortization of net gain (loss) 1,700 (4,870) (a) Settlement loss (1,919) (14,339) (a) Total amortization and settlement loss 3,177 (15,372) Income taxes (743) 3,505 Income taxes Total amortization and settlement loss (net of tax) $2,434 ($11,867) Net unrealized investment gain (loss) Total realized investment gain (loss) $— $— Total reclassifications for the period (net of tax) $2,434 ($11,905) (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the nine months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Cash flow hedges net unrealized loss Interest rate swaps $— ($145) Miscellaneous - net Total realized loss on cash flow hedges — (145) Income taxes — 31 Income taxes Total realized loss on cash flow hedges (net of tax) $— ($114) Pension and other postretirement liabilities Amortization of prior-service credit $10,191 $11,511 (a) Amortization of net gain (loss) 4,994 (29,774) (a) Settlement loss (10,408) (15,666) (a) Total amortization and settlement loss 4,777 (33,929) Income taxes (1,078) 7,689 Income taxes Total amortization and settlement loss (net of tax) $3,699 ($26,240) Net unrealized investment loss Realized loss $— ($9,245) Interest and investment income Income taxes — 3,402 Income taxes Total realized investment loss (net of tax) $— ($5,843) Total reclassifications for the period (net of tax) $3,699 ($32,197) (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Entergy Louisiana [Member] | |
Schedule of noncontrolling interest | The dollar value of noncontrolling interests for Entergy Louisiana as of September 30, 2023 and December 31, 2022 is presented below: 2023 2022 (In Thousands) Entergy Louisiana Noncontrolling Interests Restoration Law Trust I (a) $32,084 $31,735 Restoration Law Trust II (b) 15,130 — Total Noncontrolling Interests $47,214 $31,735 (a) See Note 12 to the financial statements herein and Note 17 to the financial statements in the Form 10-K for discussion of Restoration Law Trust I. (b) Restoration Law Trust II (the storm trust II) was established as part of the Act 293 securitization of Entergy Louisiana’s Hurricane Ida storm restoration costs in March 2023. The storm trust II holds preferred membership interests issued by Entergy Finance Company, and Entergy Finance Company is required to make annual distributions (dividends) on the preferred membership interests. These annual dividends paid on the Entergy Finance Company preferred membership interests will be distributed 1% to the LURC and 99% to Entergy Louisiana. Entergy Louisiana, as the primary beneficiary, consolidates the storm trust II and the LURC’s 1% beneficial interest in noncontrolling interests in the consolidated financial statements for Entergy Louisiana and Entergy. See Note 2 to the financial statements herein for a discussion of the Entergy Louisiana March 2023 storm cost securitization. |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2023 and 2022: Pension and Other 2023 2022 (In Thousands) Beginning balance, July 1, $52,811 $7,174 Amounts reclassified from accumulated other comprehensive income (loss) (1,829) 295 Net other comprehensive income (loss) for the period (1,829) 295 Ending balance, September 30, $50,982 $7,469 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2023 and 2022: Pension and Other 2023 2022 (In Thousands) Beginning balance, January 1, $55,370 $8,278 Amounts reclassified from accumulated other comprehensive income (loss) (4,388) (809) Net other comprehensive income (loss) for the period (4,388) (809) Ending balance, September 30, $50,982 $7,469 |
Reclassification out of Accumulated Other Comprehensive Income | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the three months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $951 $1,158 (a) Amortization of gain (loss) 1,574 (222) (a) Settlement loss (22) (1,340) (a) Total amortization and settlement loss 2,503 (404) Income taxes (674) 109 Income taxes Total amortization and settlement loss (net of tax) 1,829 (295) Total reclassifications for the period (net of tax) $1,829 ($295) (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the nine months ended September 30, 2023 and 2022 were as follows: Amounts reclassified Income Statement Location 2023 2022 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $2,853 $3,474 (a) Amortization of gain (loss) 4,703 (849) (a) Settlement loss (1,551) (1,518) (a) Total amortization and settlement loss 6,005 1,107 Income taxes (1,617) (298) Income taxes Total amortization and settlement loss (net of tax) 4,388 809 Total reclassifications for the period (net of tax) $4,388 $809 (a) These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Revolving Credit Facilities, _2
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Summary Of The Borrowings Outstanding And Capacity Available Under The Facility | Capacity Borrowings Letters Capacity (In Millions) $3,500 $— $3 $3,497 |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | ollowing is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. |
Notes Payable By Variable Interest Entities | The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy Arkansas [Member] | |
Summary Of The Borrowings Outstanding And Capacity Available Under The Facility | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | ollowing is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. |
Notes Payable By Variable Interest Entities | The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy Louisiana [Member] | |
Summary Of The Borrowings Outstanding And Capacity Available Under The Facility | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | ollowing is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. |
Notes Payable By Variable Interest Entities | The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy Mississippi [Member] | |
Summary Of The Borrowings Outstanding And Capacity Available Under The Facility | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | ollowing is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy New Orleans [Member] | |
Summary Of The Borrowings Outstanding And Capacity Available Under The Facility | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | ollowing is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Entergy Texas [Member] | |
Summary Of The Borrowings Outstanding And Capacity Available Under The Facility | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2023 as follows: Company Expiration Amount of Interest Rate Amount Drawn Letters of Credit Entergy Arkansas April 2024 $25 million (b) 7.27% $— $— Entergy Arkansas June 2028 $150 million (c) 6.54% $— $— Entergy Louisiana June 2028 $350 million (c) 6.67% $— $— Entergy Mississippi July 2025 $150 million 6.54% $— $— Entergy New Orleans June 2024 $25 million (c) 7.04% $— $— Entergy Texas June 2028 $150 million (c) 6.67% $— $1.1 million (a) The interest rate is the estimated interest rate as of September 30, 2023 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | ollowing is a summary of the uncommitted standby letter of credit facilities as of September 30, 2023: Company Amount of Letter of Credit Fee Letters of Credit Entergy Arkansas $25 million 0.78% $7.8 million Entergy Louisiana $125 million 0.78% $11.2 million Entergy Mississippi $65 million 0.78% $6.7 million Entergy New Orleans $15 million 1.625% $1 million Entergy Texas $80 million 1.250% $12.8 million (a) As of September 30, 2023, letters of credit posted with MISO covered financial transmission right exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. See Note 8 to the financial statements herein for discussion of financial transmission rights. (b) As of September 30, 2023, in addition to the $6.7 million MISO letters of credit, Entergy Mississippi had $1 million in non-MISO letters of credit outstanding under this facility. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
System Energy [Member] | |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following were the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2023 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $200 $24 Entergy New Orleans $150 $— Entergy Texas $200 $— System Energy $200 $— |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of September 30, 2023: Company Expiration Amount Weighted- Amount (Dollars in Millions) Entergy Arkansas VIE June 2025 $80 6.03% $10.6 Entergy Louisiana River Bend VIE June 2025 $105 6.08% $57.1 Entergy Louisiana Waterford VIE June 2025 $105 6.04% $13.9 System Energy VIE June 2025 $120 5.90% $29.2 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. |
Notes Payable By Variable Interest Entities | The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of September 30, 2023 as follows: Company Description Amount Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Arkansas VIE 1.84% Series N due July 2026 $90 million Entergy Louisiana River Bend VIE 2.51% Series V due June 2027 $70 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million Entergy Louisiana Waterford VIE 5.94% Series J due September 2026 $70 million System Energy VIE 2.05% Series K due September 2027 $90 million |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2023 were as follows: Book Value Fair Value (In Thousands) Entergy $26,183,400 $22,233,532 Entergy Arkansas $4,650,501 $3,910,973 Entergy Louisiana $10,399,014 $8,893,051 Entergy Mississippi $2,329,185 $1,935,895 Entergy New Orleans $685,002 $599,005 Entergy Texas $3,233,614 $2,702,065 System Energy $745,247 $677,274 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2022 were as follows: Book Value Fair Value (In Thousands) Entergy $25,932,549 $22,573,837 Entergy Arkansas $4,166,500 $3,538,930 Entergy Louisiana $10,698,922 $9,444,665 Entergy Mississippi $2,331,096 $1,987,154 Entergy New Orleans $775,632 $707,872 Entergy Texas $2,895,913 $2,485,705 System Energy $777,905 $702,473 (a) Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) - Entergy Corporation [Member] | 9 Months Ended |
Sep. 30, 2023 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Financial Information For Stock Options | The following table includes financial information for outstanding stock options for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Compensation expense included in Entergy’s consolidated net income $1.1 $0.9 Tax benefit recognized in Entergy’s consolidated net income $0.3 $0.2 Compensation cost capitalized as part of fixed assets and materials and supplies $0.5 $0.4 The following table includes financial information for outstanding stock options for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Compensation expense included in Entergy’s consolidated net income $3.2 $3.2 Tax benefit recognized in Entergy’s consolidated net income $0.9 $0.8 Compensation cost capitalized as part of fixed assets and materials and supplies $1.6 $1.2 |
Financial Information For Restricted Stock | The following table includes financial information for other outstanding equity awards for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Compensation expense included in Entergy’s consolidated net income $9.3 $9.1 Tax benefit recognized in Entergy’s consolidated net income $2.4 $2.3 Compensation cost capitalized as part of fixed assets and materials and supplies $4.2 $3.9 The following table includes financial information for other outstanding equity awards for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Compensation expense included in Entergy’s consolidated net income $27.1 $31.1 Tax benefit recognized in Entergy’s consolidated net income $7.0 $7.9 Compensation cost capitalized as part of fixed assets and materials and supplies $11.8 $12.6 |
Retirement And Other Postreti_2
Retirement And Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Defined Benefit Plan Disclosure [Line Items] | |
Reclassification out of Accumulated Other Comprehensive Income, amortization | Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $3,509 ($113) $3,396 Amortization of net gain (loss) (1,064) 2,898 (134) 1,700 Settlement loss (490) — (1,429) (1,919) ($1,554) $6,407 ($1,676) $3,177 Entergy Louisiana Amortization of prior service credit $— $951 $— $951 Amortization of net gain (loss) (190) 1,764 — 1,574 Settlement loss (22) — — (22) ($212) $2,715 $— $2,503 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (3,976) (596) (298) (4,870) Settlement loss (14,263) — (76) (14,339) ($18,239) $3,418 ($551) ($15,372) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (407) 186 (1) (222) Settlement loss (1,340) — — (1,340) ($1,747) $1,344 ($1) ($404) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,529 ($338) $10,191 Amortization of net gain (loss) (3,208) 8,693 (491) 4,994 Settlement loss (7,446) — (2,962) (10,408) ($10,654) $19,222 ($3,791) $4,777 Entergy Louisiana Amortization of prior service credit $— $2,853 $— $2,853 Amortization of net gain (loss) (588) 5,292 (1) 4,703 Settlement loss (1,551) — — (1,551) ($2,139) $8,145 ($1) $6,005 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $12,042 ($531) $11,511 Amortization of net loss (26,921) (1,788) (1,065) (29,774) Settlement loss (14,441) — (1,225) (15,666) ($41,362) $10,254 ($2,821) ($33,929) Entergy Louisiana Amortization of prior service credit $— $3,474 $— $3,474 Amortization of net gain (loss) (1,404) 558 (3) (849) Settlement loss (1,518) — — (1,518) ($2,922) $4,032 ($3) $1,107 |
Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $25,302 $33,845 Interest cost on projected benefit obligation 73,850 60,734 Expected return on assets (96,775) (100,203) Amortization of net loss 20,204 42,367 Settlement charges 6,914 125,548 Net pension costs $29,495 $162,291 Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $76,346 $108,482 Interest cost on projected benefit obligation 223,584 164,529 Expected return on assets (290,660) (306,895) Amortization of net loss 63,858 159,359 Settlement charges 152,588 148,201 Net pension costs $225,716 $273,676 |
Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $3,664 $6,184 Interest cost on accumulated postretirement benefit obligation (APBO) 10,568 6,827 Expected return on assets (9,183) (10,855) Amortization of prior service credit (5,640) (6,388) Amortization of net (gain) loss (2,862) 1,083 Net other postretirement benefits income ($3,453) ($3,149) Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2023 and 2022, included the following components: 2023 2022 (In Thousands) Service cost - benefits earned during the period $10,992 $18,552 Interest cost on accumulated postretirement benefit obligation (APBO) 31,704 20,481 Expected return on assets (27,549) (32,565) Amortization of prior service credit (16,920) (19,164) Amortization of net (gain) loss (8,586) 3,249 Net other postretirement benefits income ($10,359) ($9,447) |
Entergy Arkansas [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy Arkansas [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) |
Entergy Arkansas [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 |
Entergy Louisiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Reclassification out of Accumulated Other Comprehensive Income, amortization | Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $3,509 ($113) $3,396 Amortization of net gain (loss) (1,064) 2,898 (134) 1,700 Settlement loss (490) — (1,429) (1,919) ($1,554) $6,407 ($1,676) $3,177 Entergy Louisiana Amortization of prior service credit $— $951 $— $951 Amortization of net gain (loss) (190) 1,764 — 1,574 Settlement loss (22) — — (22) ($212) $2,715 $— $2,503 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (3,976) (596) (298) (4,870) Settlement loss (14,263) — (76) (14,339) ($18,239) $3,418 ($551) ($15,372) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (407) 186 (1) (222) Settlement loss (1,340) — — (1,340) ($1,747) $1,344 ($1) ($404) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2023 and 2022: 2023 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,529 ($338) $10,191 Amortization of net gain (loss) (3,208) 8,693 (491) 4,994 Settlement loss (7,446) — (2,962) (10,408) ($10,654) $19,222 ($3,791) $4,777 Entergy Louisiana Amortization of prior service credit $— $2,853 $— $2,853 Amortization of net gain (loss) (588) 5,292 (1) 4,703 Settlement loss (1,551) — — (1,551) ($2,139) $8,145 ($1) $6,005 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $12,042 ($531) $11,511 Amortization of net loss (26,921) (1,788) (1,065) (29,774) Settlement loss (14,441) — (1,225) (15,666) ($41,362) $10,254 ($2,821) ($33,929) Entergy Louisiana Amortization of prior service credit $— $3,474 $— $3,474 Amortization of net gain (loss) (1,404) 558 (3) (849) Settlement loss (1,518) — — (1,518) ($2,922) $4,032 ($3) $1,107 |
Entergy Louisiana [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy Louisiana [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) |
Entergy Louisiana [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 |
Entergy Mississippi [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy Mississippi [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) |
Entergy Mississippi [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 |
Entergy New Orleans [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy New Orleans [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) |
Entergy New Orleans [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 |
Entergy Texas [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
Entergy Texas [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) |
Entergy Texas [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $63 $24 $85 $33 $63 2022 $69 $24 $80 $28 $961 The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2023 and 2022: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2023 $575 $76 $724 $99 $190 2022 $212 $77 $241 $84 $1,264 |
System Energy [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $4,566 $6,175 $1,431 $492 $1,074 $1,430 Interest cost on projected benefit obligation 13,813 14,896 3,797 1,667 3,138 3,419 Expected return on assets (17,639) (18,892) (4,830) (2,206) (4,147) (4,392) Amortization of net loss 5,438 4,748 1,545 456 1,008 1,204 Settlement charges 558 561 345 248 632 228 Net pension cost $6,736 $7,488 $2,288 $657 $1,705 $1,889 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,138 $8,261 $1,953 $690 $1,441 $1,891 Interest cost on projected benefit obligation 11,866 12,523 3,383 1,368 2,795 2,882 Expected return on assets (18,731) (20,586) (5,006) (2,487) (4,551) (4,509) Amortization of net loss 10,283 10,156 2,941 1,208 2,130 2,641 Settlement charges 11,477 33,507 6,853 4,402 13,082 4,593 Net pension cost $21,033 $43,861 $10,124 $5,181 $14,897 $7,498 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,976 $18,654 $4,369 $1,470 $3,271 $4,342 Interest cost on projected benefit obligation 42,010 45,219 11,551 5,051 9,542 10,382 Expected return on assets (53,593) (56,891) (14,349) (6,783) (12,322) (13,431) Amortization of net loss 18,170 14,704 4,937 1,453 3,057 3,939 Settlement charges 24,516 38,791 12,088 1,948 10,902 5,518 Net pension cost $45,079 $60,477 $18,596 $3,139 $14,450 $10,750 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $19,695 $26,405 $6,158 $2,194 $4,652 $5,937 Interest cost on projected benefit obligation 30,944 33,706 8,857 3,646 7,242 7,614 Expected return on assets (57,009) (62,779) (15,373) (7,517) (14,393) (13,718) Amortization of net loss 36,557 35,055 10,371 3,944 7,124 9,078 Settlement charges 22,973 37,968 9,061 4,402 15,547 6,616 Net pension cost $53,160 $70,355 $19,074 $6,669 $20,172 $15,527 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2023: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2023 pension contributions $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Pension contributions made through September 2023 $54,468 $44,565 $21,110 $1,420 $5,314 $15,543 Remaining estimated pension contributions to be made in 2023 $— $— $— $— $— $— |
System Energy [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the third quarters of 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $741 $845 $220 $59 $202 $189 Interest cost on APBO 2,001 2,233 543 290 649 432 Expected return on assets (3,778) — (1,179) (1,316) (2,194) (634) Amortization of prior service cost (credit) 524 (951) (239) (229) (1,093) (73) Amortization of net (gain) loss 43 (1,764) 21 117 229 — Net other postretirement benefits cost (income) ($469) $363 ($634) ($1,079) ($2,207) ($86) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost (credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefits cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) The Registrant Subsidiaries’ other postretirement benefits cost (income), including amounts capitalized, for their current and former employees for the nine months ended September 30, 2023 and 2022, included the following components: 2023 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,223 $2,535 $660 $177 $606 $567 Interest cost on APBO 6,003 6,699 1,629 870 1,947 1,296 Expected return on assets (11,334) — (3,537) (3,948) (6,582) (1,902) Amortization of prior service cost (credit) 1,572 (2,853) (717) (687) (3,279) (219) Amortization of net (gain) loss 129 (5,292) 63 351 687 — Net other postretirement benefits cost (income) ($1,407) $1,089 ($1,902) ($3,237) ($6,621) ($258) 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $3,342 $4,224 $1,017 $297 $993 $930 Interest cost on APBO 3,789 4,329 1,050 522 1,197 837 Expected return on assets (13,449) — (4,182) (4,497) (7,704) (2,373) Amortization of prior service cost (credit) 1,413 (3,474) (1,329) (687) (3,279) (240) Amortization of net (gain) loss 654 (558) 168 (675) 486 90 Net other postretirement benefits cost (income) ($4,251) $4,521 ($3,276) ($5,040) ($8,307) ($756) |
Business Segment Information (T
Business Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Entergy Corporation [Member] | |
Segment Financial Information | Entergy’s segment financial information for the third quarters of 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $3,559,240 $36,302 ($20) $3,595,522 Income taxes $225,989 $1,008 $— $226,997 Consolidated net income (loss) $754,036 ($3,304) ($81,018) $669,714 2022 Operating revenues $4,156,616 $62,009 ($10) $4,218,615 Income taxes $178,088 $6,024 $— $184,112 Consolidated net income (loss) $667,162 ($55,870) ($55,410) $555,882 Entergy’s segment financial information for the nine months ended September 30, 2023 and 2022 was as follows: Utility Parent & Other Eliminations Consolidated (In Thousands) 2023 Operating revenues $9,325,977 $96,661 ($31) $9,422,607 Income taxes $304,352 ($21,534) $— $282,818 Consolidated net income (loss) $1,666,701 ($74,257) ($218,418) $1,374,026 Total assets as of September 30, 2023 $64,924,653 $839,217 ($5,211,723) $60,552,147 2022 Operating revenues $10,191,041 $300,720 ($24) $10,491,737 Income taxes ($118,257) $9,223 $— ($109,034) Consolidated net income (loss) $1,166,866 ($36,772) ($130,608) $999,486 Total assets as of December 31, 2022 $61,399,243 $884,442 ($3,688,494) $58,595,191 Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. |
Risk Management And Fair Valu_2
Risk Management And Fair Values (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Fair Values Of Derivative Instruments | The fair values of Entergy’s derivative instruments not designated as hedging instruments on the consolidated balance sheets as of September 30, 2023 and December 31, 2022 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) (In Millions) 2023 Assets: Natural gas swaps and options Prepayments and other $1 $— $ 1 Financial transmission rights Prepayments and other $33 ($1) $ 32 Liabilities: Natural gas swaps and options Other current liabilities $7 $— $ 7 2022 Assets: Natural gas swaps and options Prepayments and other $13 $— $ 13 Natural gas swaps and options Other deferred debits and other assets $3 $— $ 3 Financial transmission rights Prepayments and other $21 ($2) $ 19 Liabilities: Natural gas swaps and options Other current liabilities $25 $— $ 25 (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $8 million posted as of December 31, 2022. Also excludes letters of credit in the amount of $4 million posted as of September 30, 2023 and $3 million posted as of December 31, 2022. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($6) Financial transmission rights Purchased power expense (b) $ 48 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 42 Financial transmission rights Purchased power expense (b) $ 30 The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Amount of gain (loss) (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($44) Financial transmission rights Purchased power expense (b) $ 96 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) $ 120 Financial transmission rights Purchased power expense (b) $ 90 (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are |
Assets and liabilities at fair value on a recurring basis | The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,414 $— $— $1,414 Decommissioning trust funds (a): Equity securities 17 — — 17 Debt securities 567 1,093 — 1,660 Common trusts (b) 2,741 Securitization recovery trust account 18 — — 18 Storm reserve escrow accounts 416 — — 416 Gas hedge contracts 1 — — 1 Financial transmission rights — — 32 32 $2,433 $1,093 $32 $6,299 Liabilities: Gas hedge contracts $7 $— $— $7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $109 $— $— $109 Decommissioning trust funds (a): Equity securities 24 — — 24 Debt securities 534 1,122 — 1,656 Common trusts (b) 2,442 Securitization recovery trust account 13 — — 13 Storm reserve escrow accounts 402 — — 402 Gas hedge contracts 13 3 — 16 Financial transmission rights — — 19 19 $1,095 $1,125 $19 $4,681 Liabilities: Gas hedge contracts $25 $— $— $25 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of July 1, $40 $12 Total gains (losses) for the period Included as a regulatory liability/asset 40 39 Settlements (48) (30) Balance as of September 30, $32 $21 The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023 and 2022: 2023 2022 (In Millions) Balance as of January 1, $19 $4 Total gains (losses) for the period Included as a regulatory liability/asset 67 91 Issuances of financial transmission rights 42 16 Settlements (96) (90) Balance as of September 30, $32 $21 |
Entergy Arkansas [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Arkansas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $110.3 $— $— $110.3 Decommissioning trust funds (a): Equity securities 2.4 — — 2.4 Debt securities 128.8 342.1 — 470.9 Common trusts (b) 812.3 Financial transmission rights — — 11.6 11.6 $241.5 $342.1 $11.6 $1,407.5 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $3.4 $— $— $3.4 Decommissioning trust funds (a): Equity securities 4.5 — — 4.5 Debt securities 126.8 343.9 — 470.7 Common trusts (b) 724.7 Financial transmission rights — — 10.3 10.3 $134.7 $343.9 $10.3 $1,213.6 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Entergy Louisiana [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Louisiana 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $765.8 $— $— $765.8 Decommissioning trust funds (a): Equity securities 10.6 — — 10.6 Debt securities 243.3 493.5 — 736.8 Common trusts (b) 1,165.5 Storm reserve escrow account 303.9 — — 303.9 Gas hedge contracts 1.0 — — 1.0 Financial transmission rights — — 14.7 14.7 $1,324.6 $493.5 $14.7 $2,998.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $6.3 $— $— $6.3 Decommissioning trust funds (a): Equity securities 16.8 — — 16.8 Debt securities 209.4 515.7 — 725.1 Common trusts (b) 1,037.2 Storm reserve escrow account 293.4 — — 293.4 Gas hedge contracts 13.1 3.4 — 16.5 Financial transmission rights — — 7.3 7.3 $539.0 $519.1 $7.3 $2,102.6 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Entergy Mississippi [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Mississippi 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $10.3 $— $— $10.3 Storm reserve escrow account 34.7 — — 34.7 Financial transmission rights — — 1.1 1.1 $45.0 $— $1.1 $46.1 Liabilities: Gas hedge contracts $7.1 $— $— $7.1 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $17.0 $— $— $17.0 Storm reserve escrow account 33.5 — — 33.5 Financial transmission rights — — 0.6 0.6 $50.5 $— $0.6 $51.1 Liabilities: Gas hedge contracts $24.0 $— $— $24.0 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Entergy New Orleans [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy New Orleans 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $114.4 $— $— $114.4 Securitization recovery trust account 5.7 — — 5.7 Storm reserve escrow account 77.7 — — 77.7 Financial transmission rights — — 1.3 1.3 $197.8 $— $1.3 $199.1 Liabilities: Gas hedge contracts $0.3 $— $— $0.3 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $4.4 $— $— $4.4 Securitization recovery trust account 2.2 — — 2.2 Storm reserve escrow account 75.0 — — 75.0 Financial transmission rights — — 0.8 0.8 $81.6 $— $0.8 $82.4 Liabilities: Gas hedge contracts $1.5 $— $— $1.5 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
Entergy Texas [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2023 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $1.0 $— $ 1.0 Entergy Louisiana Financial transmission rights Prepayments and other $11.7 ($0.1) $ 11.6 Entergy Arkansas Financial transmission rights Prepayments and other $14.7 $— $ 14.7 Entergy Louisiana Financial transmission rights Prepayments and other $1.2 ($0.1) $ 1.1 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $ 1.3 Entergy New Orleans Financial transmission rights Prepayments and other $3.6 ($0.3) $ 3.3 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.1 $— $ 7.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.3 $— $ 0.3 Entergy New Orleans The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2022 were as follows: Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $13.1 $— $ 13.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $3.4 $— $ 3.4 Entergy Louisiana Financial transmission rights Prepayments and other $10.3 $— $ 10.3 Entergy Arkansas Financial transmission rights Prepayments and other $7.7 ($0.4) $ 7.3 Entergy Louisiana Financial transmission rights Prepayments and other $0.6 $— $ 0.6 Entergy Mississippi Financial transmission rights Prepayments and other $0.8 $— $ 0.8 Entergy New Orleans Financial transmission rights Prepayments and other $1.2 ($1.1) $ 0.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $24.0 $— $ 24.0 Entergy Mississippi Natural gas swaps Other current liabilities $1.5 $— $ 1.5 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2023, letters of credit posted with MISO covered financial transmission rights exposure of $1.7 million for Entergy Arkansas, $0.9 million for Entergy Louisiana, $0.6 million for Entergy Mississippi, and $0.5 million for Entergy Texas. As of December 31, 2022, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, $0.2 million for Entergy New Orleans, and $2.4 million for Entergy Texas. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.4) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 18.3 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 6.6 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 2.4 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 10.4 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 17.9 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 24.4 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 12.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 10.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 4.8 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 0.6 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 2.3 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2023 and 2022 were as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2023 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($7.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($34.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 18.2 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 46.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 11.1 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 4.8 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 14.5 (b) Entergy Texas 2022 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $ 37.7 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 81.9 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $ 0.7 (a) Entergy New Orleans Financial transmission rights Purchased power expense $ 35.8 (b) Entergy Arkansas Financial transmission rights Purchased power expense $ 35.7 (b) Entergy Louisiana Financial transmission rights Purchased power expense $ 8.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $ 3.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense $ 7.2 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Texas 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $249.6 $— $— $249.6 Securitization recovery trust account 12.3 — — 12.3 Financial transmission rights — — 3.3 3.3 $261.9 $— $3.3 $265.2 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $3.0 $— $— $3.0 Securitization recovery trust account 10.9 — — 10.9 Financial transmission rights — — 0.1 0.1 $13.9 $— $0.1 $14.0 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $19.6 $16.7 $1.2 $1.5 $1.2 Gains (losses) included as a regulatory liability/asset 2.2 16.3 6.5 2.2 12.5 Settlements (10.2) (18.3) (6.6) (2.4) (10.4) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $4.4 $4.7 $0.5 $0.6 $1.5 Gains (losses) included as a regulatory liability/asset 17.6 14.9 5.8 1.1 0.4 Settlements (12.4) (10.2) (4.8) (0.6) (2.3) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2023. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $10.3 $7.3 $0.6 $0.8 $0.1 Issuances of financial transmission rights 20.6 18.1 1.4 1.4 0.2 Gains (losses) included as a regulatory liability/asset (1.1) 36.0 10.2 3.9 17.5 Settlements (18.2) (46.7) (11.1) (4.8) (14.5) Balance as of September 30, $11.6 $14.7 $1.1 $1.3 $3.3 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2022. Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of January 1, $2.3 $0.6 $0.3 $0.1 $0.8 Issuances of financial transmission rights 5.4 5.3 0.8 0.8 3.9 Gains (losses) included as a regulatory liability/asset 37.7 39.2 8.4 3.2 2.1 Settlements (35.8) (35.7) (8.0) (3.0) (7.2) Balance as of September 30, $9.6 $9.4 $1.5 $1.1 ($0.4) |
System Energy [Member] | |
Assets and liabilities at fair value on a recurring basis | System Energy 2023 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $94.5 $— $— $94.5 Decommissioning trust funds (a): Equity securities 4.1 — — 4.1 Debt securities 195.5 257.3 — 452.8 Common trusts (b) 762.3 $294.1 $257.3 $— $1,313.7 2022 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $2.9 $— $— $2.9 Decommissioning trust funds (a): Equity securities 2.8 — — 2.8 Debt securities 197.5 262.2 — 459.7 Common trusts (b) 680.4 $203.2 $262.2 $— $1,145.8 |
Decommissioning Trust Funds (Ta
Decommissioning Trust Funds (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Securities Held | The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $1,660 $1 $222 2022 Debt Securities $1,655 $4 $201 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $585 $30 $840 $63 More than 12 months 1,010 192 666 138 Total $1,595 $222 $1,506 $201 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $80 $62 1 year - 5 years 499 520 5 years - 10 years 477 461 10 years - 15 years 108 117 15 years - 20 years 155 161 20 years+ 341 334 Total $1,660 $1,655 |
Entergy Arkansas [Member] | |
Securities Held | The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $470.9 $0.1 $78.1 2022 Debt Securities $470.7 $0.2 $69.3 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $68.8 $4.3 $197.6 $18.8 More than 12 months 391.8 73.8 260.1 50.5 Total $460.6 $78.1 $457.7 $69.3 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $45.6 $21.2 1 year - 5 years 135.8 159.7 5 years - 10 years 189.8 191.7 10 years - 15 years 38.9 38.0 15 years - 20 years 42.2 42.6 20 years+ 18.6 17.5 Total $470.9 $470.7 |
Entergy Louisiana [Member] | |
Securities Held | The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $736.8 $1.3 $74.5 2022 Debt Securities $725.1 $3.5 $67.5 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $339.7 $14.9 $409.9 $24.6 More than 12 months 354.9 59.6 207.5 42.9 Total $694.6 $74.5 $617.4 $67.5 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $31.9 $33.6 1 year - 5 years 164.6 159.1 5 years - 10 years 169.2 161.7 10 years - 15 years 64.2 67.1 15 years - 20 years 79.4 83.3 20 years+ 227.5 220.3 Total $736.8 $725.1 |
System Energy [Member] | |
Securities Held | The available-for-sale securities held as of September 30, 2023 and December 31, 2022 are summarized as follows: Fair Total Total (In Millions) 2023 Debt Securities $452.8 $0.1 $69.8 2022 Debt Securities $459.7 $0.7 $63.7 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Fair Gross Fair Gross (In Millions) Less than 12 months $176.1 $11.0 $231.9 $19.2 More than 12 months 263.0 58.8 198.0 44.5 Total $439.1 $69.8 $429.9 $63.7 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2023 and December 31, 2022 were as follows: 2023 2022 (In Millions) Less than 1 year $2.7 $6.8 1 year - 5 years 198.9 201.7 5 years - 10 years 118.4 107.1 10 years - 15 years 4.7 11.7 15 years - 20 years 33.1 35.0 20 years+ 95.0 97.4 Total $452.8 $459.7 |
Revenue Recognition Revenue Rec
Revenue Recognition Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Disaggregation of Revenue [Table Text Block] | Entergy’s total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $1,602,496 $1,570,940 Commercial 884,585 940,604 Industrial 797,982 1,109,245 Governmental 73,846 84,649 Total billed retail 3,358,909 3,705,438 Sales for resale (a) 86,505 311,479 Other electric revenues (b) 66,211 83,679 Revenues from contracts with customers 3,511,625 4,100,596 Other Utility revenues (c) 15,310 9,462 Electric revenues 3,526,935 4,110,058 Natural gas revenues 32,305 46,548 Other revenues (d) 36,282 62,009 Total operating revenues $3,595,522 $4,218,615 Entergy’s total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 2022 (In Thousands) Utility: Residential $3,595,378 $3,592,025 Commercial 2,291,673 2,290,893 Industrial 2,411,882 2,731,075 Governmental 204,999 209,044 Total billed retail 8,503,932 8,823,037 Sales for resale (a) 262,714 689,473 Other electric revenues (b) 358,000 420,710 Revenues from contracts with customers 9,124,646 9,933,220 Other Utility revenues (c) 70,942 90,869 Electric revenues 9,195,588 10,024,089 Natural gas revenues 130,389 166,917 Other revenues (d) 96,630 300,731 Total operating revenues $9,422,607 $10,491,737 |
Allowance for Doubtful Accounts | The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. |
Entergy Arkansas [Member] | |
Disaggregation of Revenue [Table Text Block] | The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. |
Allowance for Doubtful Accounts | The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. |
Entergy Louisiana [Member] | |
Disaggregation of Revenue [Table Text Block] | The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. |
Allowance for Doubtful Accounts | The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. |
Entergy Mississippi [Member] | |
Disaggregation of Revenue [Table Text Block] | The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. |
Allowance for Doubtful Accounts | The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. |
Entergy New Orleans [Member] | |
Disaggregation of Revenue [Table Text Block] | The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. |
Allowance for Doubtful Accounts | The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. |
Entergy Texas [Member] | |
Disaggregation of Revenue [Table Text Block] | The Utility operating companies’ total revenues for the three months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $346,454 $547,485 $257,241 $120,311 $331,005 Commercial 183,352 313,112 184,164 69,927 134,030 Industrial 194,284 393,172 58,253 9,163 143,110 Governmental 5,895 20,936 17,226 22,358 7,431 Total billed retail 729,985 1,274,705 516,884 221,759 615,576 Sales for resale (a) 73,081 95,257 17,403 13,007 3,426 Other electric revenues (b) 25,922 43,094 2,086 (1,474) (2,074) Revenues from contracts with customers 828,988 1,413,056 536,373 233,292 616,928 Other revenues (c) 2,671 8,542 2,442 1,988 (333) Electric revenues 831,659 1,421,598 538,815 235,280 616,595 Natural gas revenues — 13,269 — 19,036 — Total operating revenues $831,659 $1,434,867 $538,815 $254,316 $616,595 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $323,767 $618,056 $206,708 $116,968 $305,441 Commercial 165,609 402,027 150,137 75,083 147,748 Industrial 175,304 693,445 50,931 10,973 178,592 Governmental 6,104 28,022 14,837 27,406 8,280 Total billed retail 670,784 1,741,550 422,613 230,430 640,061 Sales for resale (a) 157,008 191,664 56,162 33,158 9,149 Other electric revenues (b) 35,478 61,549 (21,997) (900) 10,895 Revenues from contracts with customers 863,270 1,994,763 456,778 262,688 660,105 Other revenues (c) 1,232 8,246 2,354 216 (549) Electric revenues 864,502 2,003,009 459,132 262,904 659,556 Natural gas revenues — 17,789 — 28,759 — Total operating revenues $864,502 $2,020,798 $459,132 $291,663 $659,556 The Utility operating companies’ total revenues for the nine months ended September 30, 2023 and 2022 were as follows: 2023 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $790,760 $1,242,378 $589,630 $252,412 $720,198 Commercial 445,279 844,655 460,836 180,091 360,812 Industrial 479,337 1,310,121 164,406 24,138 433,880 Governmental 15,500 63,417 46,080 58,052 21,950 Total billed retail 1,730,876 3,460,571 1,260,952 514,693 1,536,840 Sales for resale (a) 187,365 258,741 82,219 48,992 7,857 Other electric revenues (b) 105,446 161,033 45,926 4,611 45,011 Revenues from contracts with customers 2,023,687 3,880,345 1,389,097 568,296 1,589,708 Other revenues (c) 7,068 52,914 7,276 4,895 (1,177) Electric revenues 2,030,755 3,933,259 1,396,373 573,191 1,588,531 Natural gas revenues — 52,428 — 77,961 — Total operating revenues $2,030,755 $3,985,687 $1,396,373 $651,152 $1,588,531 2022 Entergy Entergy Entergy Entergy Entergy (In Thousands) Residential $750,762 $1,372,538 $503,351 $256,110 $709,264 Commercial 406,078 949,680 379,075 179,456 376,604 Industrial 420,788 1,681,628 133,826 26,462 468,371 Governmental 15,702 68,880 39,449 62,617 22,396 Total billed retail 1,593,330 4,072,726 1,055,701 524,645 1,576,635 Sales for resale (a) 384,175 422,596 121,328 96,523 44,927 Other electric revenues (b) 136,870 185,405 29,665 17,936 54,874 Revenues from contracts with customers 2,114,375 4,680,727 1,206,694 639,104 1,676,436 Other revenues (c) 6,022 57,461 6,926 2,530 20,193 Electric revenues 2,120,397 4,738,188 1,213,620 641,634 1,696,629 Natural gas revenues — 64,367 — 102,550 — Total operating revenues $2,120,397 $4,802,555 $1,213,620 $744,184 $1,696,629 (a) Sales for resale includes day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market, unbilled revenue, and certain customer credits as directed by regulators. (c) Other Utility revenues include the equity component of carrying costs related to securitization, settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. (d) Other revenues include competitive business sales including day-ahead sales of energy in a market administered by an ISO, operation and management services fees, and amortization of a below-market power purchase agreement. |
Allowance for Doubtful Accounts | The following tables set forth a reconciliation of changes in the allowance for doubtful accounts for the nine months ended September 30, 2023 and 2022. Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2022 $30.9 $6.5 $7.6 $2.5 $11.9 $2.4 Provisions 29.3 5.4 12.2 3.8 3.6 4.3 Write-offs (64.9) (16.5) (25.9) (5.7) (8.6) (8.2) Recoveries 32.5 10.2 13.7 2.4 2.3 3.9 Balance as of September 30, 2023 $27.8 $5.6 $7.6 $3.0 $9.2 $2.4 Entergy Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of December 31, 2021 $68.6 $13.1 $29.2 $7.2 $13.3 $5.8 Provisions (a) 28.8 12.1 8.3 1.5 4.0 2.9 Write-offs (95.1) (27.3) (38.1) (9.8) (11.7) (8.2) Recoveries 28.4 8.4 10.5 3.2 3.8 2.5 Balance as of September 30, 2022 $30.7 $6.3 $9.9 $2.1 $9.4 $3.0 (a) Provisions include estimated incremental bad debt expenses, and revisions to those estimates, resulting from the COVID-19 pandemic of ($6.4) million for Entergy, $6.4 million for Entergy Arkansas, ($8.5) million for Entergy Louisiana, ($3.0) million for Entergy New Orleans, and ($1.3) million for Entergy Texas that have been deferred as regulatory assets. See Note 2 to the financial statements herein and in the Form 10-K for discussion of the COVID-19 orders issued by retail regulators. |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jul. 31, 2023 | Mar. 31, 2023 | Feb. 28, 2014 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2018 | Dec. 31, 2014 | Dec. 31, 2013 | |
Loss Contingencies [Line Items] | ||||||||||
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | $ 23,655 | $ 32,367 | ||||||||
Asset Impairment Charges | $ 38,078 | $ (143) | 38,078 | (163,464) | ||||||
Indian Point | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 59,000 | |||||||||
Damages awarded for previously recorded operation and maintenance | 15,000 | |||||||||
Damages awarded for previously recorded taxes other than income taxes | 1,000 | |||||||||
Damages awarded for previously recorded nuclear fuel expense | 6,000 | |||||||||
Damages awarded for costs previously recorded as asset retirement obligation | $ 18,000 | |||||||||
Entergy Arkansas [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 17,933 | 0 | ||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 21,000 | |||||||||
Asset Impairment Charges | 78,434 | $ 0 | $ 78,434 | $ 0 | ||||||
Asset impairment charge for undepreciated balance in capital costs | 9,500 | |||||||||
Estimated Cost To Restore ANO To Service | $ 95,000 | |||||||||
Proceeds From Insurance Settlement, Operating and Investing Activities | $ 50,000 | |||||||||
Estimated Cost To Restore ANO To Service | $ 95,000 | |||||||||
Proceeds From Insurance Settlement, Operating and Investing Activities | $ 50,000 | |||||||||
Entergy Arkansas [Member] | Deferred Fuel Costs | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Asset Impairment Charges | $ 68,900 | |||||||||
Entergy Arkansas [Member] | ANO | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 41,000 | |||||||||
Damages awarded for previously recorded operation and maintenance | 10,000 | |||||||||
Damages awarded for previously recorded taxes other than income taxes | 2,000 | |||||||||
Damages awarded for previously capitalized nuclear fuel expense [Abstract] | 8,000 | |||||||||
Damages awarded for previously recorded materials and supplies [Abstract] | 3,000 | |||||||||
Damages awarded for previously recorded nuclear fuel expense | $ 18,000 | |||||||||
Deferred Fuel and Purchased Energy Costs Excluded From Revised Energy Cost Rate | $ 65,900 | |||||||||
Deferred Fuel and Purchased Energy Costs Excluded From Revised Energy Cost Rate | $ 65,900 |
Rate And Regulatory Matters (Na
Rate And Regulatory Matters (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 36 Months Ended | 57 Months Ended | |||||||||||||||||||||||||||||
Nov. 01, 2023 | Oct. 31, 2023 USD ($) | Sep. 30, 2023 USD ($) | Aug. 31, 2023 USD ($) | Jul. 31, 2023 USD ($) | Jun. 30, 2023 USD ($) $ / unit | May 31, 2023 USD ($) | Apr. 30, 2023 USD ($) | Mar. 31, 2023 USD ($) shares | Jan. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Nov. 30, 2022 USD ($) | Oct. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) | Aug. 31, 2022 USD ($) | Jul. 31, 2022 USD ($) | Jun. 30, 2022 USD ($) | Apr. 30, 2022 USD ($) | Oct. 31, 2021 USD ($) | Mar. 31, 2021 | Dec. 31, 1988 | Sep. 30, 2023 USD ($) | Mar. 31, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) | Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) shares | Dec. 31, 2022 USD ($) | Dec. 31, 2018 USD ($) | Jun. 30, 2024 USD ($) | Mar. 31, 2022 USD ($) | Sep. 30, 2020 USD ($) | Sep. 30, 2021 USD ($) | Jul. 31, 2020 USD ($) | |
Public Utilities, Property, Plant and Equipment, Construction Work in Progress | $ 2,296,265,000 | $ 1,844,171,000 | $ 2,296,265,000 | $ 2,296,265,000 | $ 1,844,171,000 | $ 1,844,171,000 | ||||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | 3,605,237,000 | $ 5,316,693,000 | ||||||||||||||||||||||||||||||||||
Storm Reserve Escrow Account | 416,274,000 | 401,955,000 | 416,274,000 | 416,274,000 | 401,955,000 | 401,955,000 | ||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 5,690,179,000 | 6,036,397,000 | 5,690,179,000 | 5,690,179,000 | 6,036,397,000 | 6,036,397,000 | ||||||||||||||||||||||||||||||
Long-term Transition Bond, Noncurrent | 278,286,000 | 292,760,000 | 278,286,000 | 278,286,000 | 292,760,000 | 292,760,000 | ||||||||||||||||||||||||||||||
Deferred Fuel Cost | 188,885,000 | 710,401,000 | 188,885,000 | 188,885,000 | 710,401,000 | 710,401,000 | ||||||||||||||||||||||||||||||
Replacement Reserve Escrow | 416,000,000 | 402,000,000 | 416,000,000 | 416,000,000 | 402,000,000 | 402,000,000 | ||||||||||||||||||||||||||||||
Asset Impairment Charges | 38,078,000 | $ (143,000) | 38,078,000 | (163,464,000) | ||||||||||||||||||||||||||||||||
Storm Costs | ||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 500,000 | |||||||||||||||||||||||||||||||||||
Indian Point | ||||||||||||||||||||||||||||||||||||
Proceeds from Legal Settlements | $ 40,000,000 | |||||||||||||||||||||||||||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 59,000,000 | |||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Property, Plant and Equipment, Construction Work in Progress | 587,658,000 | 736,969,000 | 587,658,000 | 587,658,000 | 736,969,000 | 736,969,000 | ||||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | 1,196,927,000 | 2,673,246,000 | ||||||||||||||||||||||||||||||||||
Total Restoration Costs For Repair and Replacement of Electrical System including carrying costs | $ 2,640,000,000 | |||||||||||||||||||||||||||||||||||
Storm Reserve Escrow Account | 303,869,000 | 293,406,000 | 303,869,000 | 303,869,000 | 293,406,000 | 293,406,000 | ||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 1,665,315,000 | 2,056,179,000 | 1,665,315,000 | 1,665,315,000 | 2,056,179,000 | 2,056,179,000 | ||||||||||||||||||||||||||||||
Deferred Fuel Cost | 26,093,000 | 159,183,000 | 26,093,000 | 26,093,000 | 159,183,000 | 159,183,000 | ||||||||||||||||||||||||||||||
Replacement Reserve Escrow | 303,900,000 | 293,400,000 | 303,900,000 | $ 303,900,000 | 293,400,000 | 293,400,000 | ||||||||||||||||||||||||||||||
LURC's percentage of annual dividends | 1% | |||||||||||||||||||||||||||||||||||
ELL's percentage of annual dividends | 99% | 99% | ||||||||||||||||||||||||||||||||||
Proceeds from Contributed Capital | $ 1,457,676,000 | 1,000,000,000 | ||||||||||||||||||||||||||||||||||
Regulatory charge recorded as a result of reduction in income tax expense | $ 103,000,000 | |||||||||||||||||||||||||||||||||||
Regulatory charge recorded as a result of reduction in income tax expense, net of tax | 76,000,000 | |||||||||||||||||||||||||||||||||||
Reduction to income tax expense - net of provision for uncertain tax positions | 133,000,000 | |||||||||||||||||||||||||||||||||||
Reduction to income tax expense - net, offset by other tax charges | $ 129,000,000 | |||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Restoration Law Trust II (storm trust II) [Member] | ||||||||||||||||||||||||||||||||||||
LURC's beneficial interest in the storm trust, percentage | 1% | 1% | 1% | |||||||||||||||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 7.50% | |||||||||||||||||||||||||||||||||||
Preferred Stock, Liquidation Preference, Value | $ 100 | $ 100 | $ 100 | |||||||||||||||||||||||||||||||||
Class preferred non voting membership interest units acquired in wholly owned subsidiary | shares | 14,576,757.48 | 14,576,757.48 | 14,576,757.48 | |||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Deferred COVID 19 Costs | ||||||||||||||||||||||||||||||||||||
Regulatory Assets | 47,800,000 | 47,800,000 | 47,800,000 | |||||||||||||||||||||||||||||||||
Amount of long-term debt proposed to be used to generate earnings to reduce certain regulatory assets | $ 1,600,000,000 | |||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricanes Laura, Delta, Zeta, and Winter Storm Uri | ||||||||||||||||||||||||||||||||||||
Carrying costs associated with storm restoration costs | 3,000,000 | |||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricane Ida | ||||||||||||||||||||||||||||||||||||
Carrying costs associated with storm restoration costs | 57,000,000 | |||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricane Ida | ||||||||||||||||||||||||||||||||||||
Total Restoration Costs For Repair and Replacement of Electrical System | $ 2,640,000,000 | 2,540,000,000 | ||||||||||||||||||||||||||||||||||
Non-capital storm costs | 586,000,000 | |||||||||||||||||||||||||||||||||||
Deferred Storm and Property Reserve Deficiency, Noncurrent | $ 1,000,000,000 | 1,960,000,000 | $ 1,000,000,000 | $ 1,000,000,000 | $ 1,000,000,000 | |||||||||||||||||||||||||||||||
Total Restoration Costs For Repair and Replacement of Electrical System including carrying costs | 2,600,000,000 | |||||||||||||||||||||||||||||||||||
Carrying costs associated with storm restoration costs | $ 59,100,000 | |||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricanes Laura, Delta, Zeta, and Winter Storm Uri | ||||||||||||||||||||||||||||||||||||
Total Restoration Costs For Repair and Replacement of Electrical System | 2,570,000,000 | |||||||||||||||||||||||||||||||||||
Total Restoration Costs For Repair and Replacement of Electrical System including carrying costs | $ 32,000,000 | |||||||||||||||||||||||||||||||||||
Carrying costs associated with storm restoration costs | 59,200,000 | |||||||||||||||||||||||||||||||||||
Aggregate principal amount of system restoration bonds authorization requested | $ 1,491,000,000 | 1,657,000,000 | 1,657,000,000 | 1,657,000,000 | ||||||||||||||||||||||||||||||||
aggregate principal amount of system restoration bond authorization approved | 1,491,000,000 | 1,491,000,000 | 1,491,000,000 | |||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricanes Laura, Delta, Zeta, and Winter Storm Uri | Storm Costs | ||||||||||||||||||||||||||||||||||||
Regulatory Assets | 180,000,000 | 180,000,000 | 180,000,000 | |||||||||||||||||||||||||||||||||
Entergy Mississippi [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Property, Plant and Equipment, Construction Work in Progress | 249,991,000 | 170,191,000 | 249,991,000 | 249,991,000 | 170,191,000 | 170,191,000 | ||||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | 396,853,000 | 249,298,000 | ||||||||||||||||||||||||||||||||||
Storm Reserve Escrow Account | 34,694,000 | 33,549,000 | 34,694,000 | 34,694,000 | 33,549,000 | 33,549,000 | ||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 555,430,000 | 519,460,000 | 555,430,000 | 555,430,000 | 519,460,000 | 519,460,000 | ||||||||||||||||||||||||||||||
Deferred Fuel Cost | 0 | 143,211,000 | 0 | 0 | 143,211,000 | 143,211,000 | ||||||||||||||||||||||||||||||
Replacement Reserve Escrow | 34,700,000 | 33,500,000 | 34,700,000 | 34,700,000 | 33,500,000 | 33,500,000 | ||||||||||||||||||||||||||||||
Entergy New Orleans [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Property, Plant and Equipment, Construction Work in Progress | 31,152,000 | 39,607,000 | 31,152,000 | 31,152,000 | 39,607,000 | 39,607,000 | ||||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | 14,630,000 | 0 | ||||||||||||||||||||||||||||||||||
Storm Reserve Escrow Account | 77,712,000 | 75,000,000 | 77,712,000 | 77,712,000 | 75,000,000 | 75,000,000 | ||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 193,515,000 | 202,112,000 | 193,515,000 | 193,515,000 | 202,112,000 | 202,112,000 | ||||||||||||||||||||||||||||||
Long-term Transition Bond, Noncurrent | 11,806,000 | 17,697,000 | 11,806,000 | 11,806,000 | 17,697,000 | 17,697,000 | ||||||||||||||||||||||||||||||
Deferred Fuel Cost | 2,128,000 | 10,153,000 | 2,128,000 | 2,128,000 | 10,153,000 | 10,153,000 | ||||||||||||||||||||||||||||||
Replacement Reserve Escrow | 77,700,000 | 75,000,000 | 77,700,000 | 77,700,000 | 75,000,000 | 75,000,000 | ||||||||||||||||||||||||||||||
Entergy New Orleans [Member] | Hurricane Ida | ||||||||||||||||||||||||||||||||||||
Total Restoration Costs For Repair and Replacement of Electrical System | $ 170,000,000 | |||||||||||||||||||||||||||||||||||
Carrying costs associated with storm restoration costs | 9,000,000 | |||||||||||||||||||||||||||||||||||
Replacement Reserve Escrow | $ 39,000,000 | |||||||||||||||||||||||||||||||||||
Estimated costs included in filing for total restoration costs for repair and replacement of electrical system | 11,000,000 | |||||||||||||||||||||||||||||||||||
storm securitization costs approved for securitization allocated to Hurricane Ida | $ 125,000,000 | |||||||||||||||||||||||||||||||||||
Excess withdrawn replacement reserve escrow | $ 7,000,000 | |||||||||||||||||||||||||||||||||||
Storm Restoration Costs Deemed Prudently Incurred | 164,100,000 | |||||||||||||||||||||||||||||||||||
Carrying costs associated with storm restoration costs deemed prudently incurred | 7,500,000 | |||||||||||||||||||||||||||||||||||
Credits available to be applied to future storm costs | 900,000 | |||||||||||||||||||||||||||||||||||
Storm costs deemed previously recovered through base rates | 1,200,000 | |||||||||||||||||||||||||||||||||||
Entergy Texas [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Property, Plant and Equipment, Construction Work in Progress | 784,116,000 | 339,139,000 | 784,116,000 | 784,116,000 | 339,139,000 | 339,139,000 | ||||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | 344,966,000 | 606,444,000 | ||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 596,679,000 | 578,682,000 | 596,679,000 | 596,679,000 | 578,682,000 | 578,682,000 | ||||||||||||||||||||||||||||||
Long-term Transition Bond, Noncurrent | 266,480,000 | 275,064,000 | 266,480,000 | 266,480,000 | 275,064,000 | 275,064,000 | ||||||||||||||||||||||||||||||
Deferred Fuel Cost | 160,664,000 | 258,115,000 | 160,664,000 | 160,664,000 | 258,115,000 | 258,115,000 | ||||||||||||||||||||||||||||||
Entergy Texas [Member] | Certain receipts under affiliated PPAs | ||||||||||||||||||||||||||||||||||||
Regulatory Liabilities | 21,900,000 | |||||||||||||||||||||||||||||||||||
Entergy Arkansas [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Property, Plant and Equipment, Construction Work in Progress | 479,889,000 | 417,244,000 | 479,889,000 | 479,889,000 | 417,244,000 | 417,244,000 | ||||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | 991,606,000 | 225,625,000 | ||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 1,879,619,000 | 1,810,281,000 | 1,879,619,000 | 1,879,619,000 | 1,810,281,000 | 1,810,281,000 | ||||||||||||||||||||||||||||||
Deferred Fuel Cost | 0 | 139,739,000 | 0 | 0 | 139,739,000 | 139,739,000 | ||||||||||||||||||||||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 21,000,000 | |||||||||||||||||||||||||||||||||||
Asset Impairment Charges | 78,434,000 | $ 0 | 78,434,000 | 0 | ||||||||||||||||||||||||||||||||
Entergy Arkansas [Member] | Deferred COVID 19 Costs | ||||||||||||||||||||||||||||||||||||
Regulatory Assets | 39,000,000 | 39,000,000 | 39,000,000 | |||||||||||||||||||||||||||||||||
Entergy Arkansas [Member] | Deferred Fuel Costs | ||||||||||||||||||||||||||||||||||||
Asset Impairment Charges | 68,900,000 | |||||||||||||||||||||||||||||||||||
Entergy Arkansas [Member] | 2021 February Winter Storms | ||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 32,000,000 | $ 32,000,000 | 32,000,000 | |||||||||||||||||||||||||||||||||
System Energy [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Property, Plant and Equipment, Construction Work in Progress | 105,468,000 | 102,987,000 | 105,468,000 | 105,468,000 | 102,987,000 | 102,987,000 | ||||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | 662,965,000 | $ 955,587,000 | ||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 439,419,000 | 415,121,000 | 439,419,000 | 439,419,000 | 415,121,000 | 415,121,000 | ||||||||||||||||||||||||||||||
Potential settlement refund | 353,000,000 | |||||||||||||||||||||||||||||||||||
Additional unprotected excess ADIT related to uncertain decommissioning tax deduction | 147,000,000 | 147,000,000 | 147,000,000 | $ 147,000,000 | ||||||||||||||||||||||||||||||||
Regulatory Liability related to potential settlement refund | 270,000,000 | 588,000,000 | 270,000,000 | $ 270,000,000 | ||||||||||||||||||||||||||||||||
Estimated Litigation Liability | 37,000,000 | |||||||||||||||||||||||||||||||||||
Regulatory charge related to System Energy settlement | 551,000,000 | 40,000,000 | ||||||||||||||||||||||||||||||||||
Regulatory charge related to System Energy settlement - net of tax | 413,000,000 | |||||||||||||||||||||||||||||||||||
System Energy [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||
Authorized return on common equity | 9.65% | |||||||||||||||||||||||||||||||||||
Public Utilities, Approved Equity Capital Structure, Percentage | 52% | |||||||||||||||||||||||||||||||||||
Grand Gulf [Member] | Entergy Mississippi [Member] | ||||||||||||||||||||||||||||||||||||
Long-term Contract for Purchase of Electric Power, Share of Plant Output Being Purchased | 40% | |||||||||||||||||||||||||||||||||||
Grand Gulf [Member] | System Energy [Member] | ||||||||||||||||||||||||||||||||||||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 11.50% | |||||||||||||||||||||||||||||||||||
Grand Gulf [Member] | Entergy Arkansas and and Entergy Mississippi [Member] | ||||||||||||||||||||||||||||||||||||
Long-term Contract for Purchase of Electric Power, Share of Plant Output Being Purchased | 65% | |||||||||||||||||||||||||||||||||||
Generation Cost Recovery Rider | Entergy Texas [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 92,800,000 | |||||||||||||||||||||||||||||||||||
Public Utilities, Interim Rate Increase (Decrease), Amount | $ 5,700,000 | |||||||||||||||||||||||||||||||||||
Grand Gulf Sale-leaseback Renewal Complaint | Entergy Louisiana [Member] | ||||||||||||||||||||||||||||||||||||
Proceeds from Legal Settlements | 27,800,000 | |||||||||||||||||||||||||||||||||||
Payments for Legal Settlements | 18,200,000 | |||||||||||||||||||||||||||||||||||
Grand Gulf Sale-leaseback Renewal Complaint | Entergy Mississippi [Member] | ||||||||||||||||||||||||||||||||||||
Allocated sale-leaseback annual renewal costs | $ 5,700,000 | |||||||||||||||||||||||||||||||||||
Grand Gulf Sale-leaseback Renewal Complaint | Entergy New Orleans [Member] | ||||||||||||||||||||||||||||||||||||
Proceeds from Legal Settlements | 34,000,000 | |||||||||||||||||||||||||||||||||||
Payments for Legal Settlements | 22,300,000 | |||||||||||||||||||||||||||||||||||
Grand Gulf Sale-leaseback Renewal Complaint | Entergy Arkansas [Member] | ||||||||||||||||||||||||||||||||||||
Proceeds from Legal Settlements | 41,700,000 | 50,000,000 | ||||||||||||||||||||||||||||||||||
Cumulative proceeds awarded from legal settlements | 142,000,000 | |||||||||||||||||||||||||||||||||||
Grand Gulf Sale-leaseback Renewal Complaint | System Energy [Member] | ||||||||||||||||||||||||||||||||||||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 11.50% | |||||||||||||||||||||||||||||||||||
Payments for Legal Settlements | 103,500,000 | |||||||||||||||||||||||||||||||||||
Disallowance of future sale-leaseback renewal costs recovery | 11,500,000 | |||||||||||||||||||||||||||||||||||
Calculated refund of sale-leaseback renewal rental costs, including interest | 89,800,000 | |||||||||||||||||||||||||||||||||||
One-time accumulated deferred income tax credit | $ 25,200,000 | |||||||||||||||||||||||||||||||||||
Calculated net refund for excess depreciation expense | 13,700,000 | |||||||||||||||||||||||||||||||||||
Grand Gulf Sale-leaseback Renewal Complaint | System Energy [Member] | Sale-leaseback and depreciation-related refunds due [Member] | ||||||||||||||||||||||||||||||||||||
Regulatory Assets | 40,500,000 | 40,500,000 | 40,500,000 | |||||||||||||||||||||||||||||||||
Grand Gulf Sale-leaseback Renewal Complaint | System Energy [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||
Proceeds from Legal Settlements | $ 67,800,000 | |||||||||||||||||||||||||||||||||||
Recalculated Payments for Legal Settlements | 35,700,000 | |||||||||||||||||||||||||||||||||||
Waived proceed from legal settlement resulting from compliance filing | 27,300,000 | |||||||||||||||||||||||||||||||||||
Unit Power Sales Agreement Complaint | Entergy Arkansas [Member] | ||||||||||||||||||||||||||||||||||||
Proceeds from Legal Settlements | $ 41,700,000 | |||||||||||||||||||||||||||||||||||
Unit Power Sales Agreement Complaint | System Energy [Member] | ||||||||||||||||||||||||||||||||||||
Potential settlement refund | $ 18,000,000 | |||||||||||||||||||||||||||||||||||
FERC ALJ initial decision recommended refunds | 116,000,000 | |||||||||||||||||||||||||||||||||||
Interest component of FERC ALJ initial decision recommended refunds | 147,000,000 | |||||||||||||||||||||||||||||||||||
FERC ALJ initial decision modification to cash working capital allowance | $ 36,400,000 | |||||||||||||||||||||||||||||||||||
2022 Base Rate Case | Entergy Texas [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 54,000,000 | 54,000,000 | $ 131,400,000 | |||||||||||||||||||||||||||||||||
Rate case expenses to be recovered from customers through a rider | 4,800,000 | |||||||||||||||||||||||||||||||||||
2022 Base Rate Case | Entergy Texas [Member] | 2022 Rate Case Settlement Relate Back | ||||||||||||||||||||||||||||||||||||
Regulatory Liabilities | 8,900,000 | |||||||||||||||||||||||||||||||||||
2022 Base Rate Case | Entergy Texas [Member] | Deferred COVID 19 Costs | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 3,400,000 | |||||||||||||||||||||||||||||||||||
2022 Base Rate Case | Entergy Texas [Member] | Other Regulatory Assets (Liabilities) | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 14,500,000 | |||||||||||||||||||||||||||||||||||
2022 Base Rate Case | Entergy Texas [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Interim Rate Increase (Decrease), Amount | 24,600,000 | |||||||||||||||||||||||||||||||||||
Fuel reconciliation | Entergy Texas [Member] | ||||||||||||||||||||||||||||||||||||
Eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments | 1,700,000,000 | |||||||||||||||||||||||||||||||||||
Deferred fuel under-recovery balance, including interest, for reconciliation period | 103,100,000 | |||||||||||||||||||||||||||||||||||
Margins from off-system sales made during the reconciliation period | 9,300,000 | |||||||||||||||||||||||||||||||||||
Deferred fuel under-recovery balance, including interest, for reconciliation period per settlement | $ 99,700,000 | |||||||||||||||||||||||||||||||||||
Fuel reconciliation | Entergy Texas [Member] | Winter Storm Uri | ||||||||||||||||||||||||||||||||||||
Proposed disallowance for fuel purchase | 5,200,000 | |||||||||||||||||||||||||||||||||||
2022 Look-back Filing [Member] | Entergy Mississippi [Member] | ||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | $ 800,000 | |||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount | 19,800,000 | |||||||||||||||||||||||||||||||||||
Requested refund for true-up of demand-side management costs | 1,300,000 | |||||||||||||||||||||||||||||||||||
Earned return on rate base | 6.10% | |||||||||||||||||||||||||||||||||||
2022 Look-back Filing [Member] | Entergy Mississippi [Member] | Formula Rate Plan Historical Year Rate Adjustment Member | ||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | $ 18,200,000 | $ 18,200,000 | $ 18,200,000 | |||||||||||||||||||||||||||||||||
2022 Look-back Filing [Member] | Entergy Mississippi [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Interim Rate Increase (Decrease), Amount | $ 27,900,000 | |||||||||||||||||||||||||||||||||||
Public Utilities, Interim Rate Increase (Decrease), Percentage | 2% | |||||||||||||||||||||||||||||||||||
2022 Look-back Filing [Member] | Entergy Mississippi [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount | $ 19,000,000 | |||||||||||||||||||||||||||||||||||
2023 Formula Rate Plan Filing [Member] | Entergy Mississippi [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 39,800,000 | |||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 6.67% | |||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 26,500,000 | |||||||||||||||||||||||||||||||||||
2023 Formula Rate Plan Filing [Member] | Entergy Mississippi [Member] | Natural Gas, US Regulated [Member] | ||||||||||||||||||||||||||||||||||||
Oil and Gas, Average Production Cost Per Unit | $ / unit | 4.50 | |||||||||||||||||||||||||||||||||||
2023 Formula Rate Plan Filing [Member] | Entergy New Orleans [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 500,000 | $ 25,600,000 | ||||||||||||||||||||||||||||||||||
Authorized return on common equity | 9.35% | |||||||||||||||||||||||||||||||||||
Requested reduction to formula rate plan revenues resulting from alleged errors | 8,300,000 | |||||||||||||||||||||||||||||||||||
Proposed formula rate plan rate mitigation through offsets to regulatory liabilities | 12,000,000 | |||||||||||||||||||||||||||||||||||
Reduction to formula rate plan revenues related to customer credits | 8,900,000 | |||||||||||||||||||||||||||||||||||
2023 Formula Rate Plan Filing [Member] | Entergy New Orleans [Member] | Electricity [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 17,400,000 | |||||||||||||||||||||||||||||||||||
Earned return on common equity | 7.34% | |||||||||||||||||||||||||||||||||||
Additional revenue increase due to previously approved amounts | $ 3,400,000 | |||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 10,500,000 | |||||||||||||||||||||||||||||||||||
2023 Formula Rate Plan Filing [Member] | Entergy New Orleans [Member] | Natural Gas, US Regulated [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 8,200,000 | |||||||||||||||||||||||||||||||||||
Earned return on common equity | 3.52% | |||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 6,900,000 | |||||||||||||||||||||||||||||||||||
2023 Formula Rate Plan Filing [Member] | Entergy Arkansas [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 130,300,000 | |||||||||||||||||||||||||||||||||||
Projected Revenue Deficiency | $ 80,500,000 | |||||||||||||||||||||||||||||||||||
Prospective return on common equity opportunity | 8.11% | |||||||||||||||||||||||||||||||||||
2023 Formula Rate Plan Filing [Member] | Entergy Arkansas [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 88,600,000 | |||||||||||||||||||||||||||||||||||
Annual revenue constraint per rate class percentage | 4% | |||||||||||||||||||||||||||||||||||
2023 Formula Rate Plan Filing [Member] | Entergy Arkansas [Member] | Subsequent Event [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||
Adjusted Public Utilities Requested Rate Increase Decrease Amount Per Service Commission | $ 87,700,000 | |||||||||||||||||||||||||||||||||||
Return on Equity and Capital Structure Complaints [Member] | System Energy [Member] | ||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.94% | |||||||||||||||||||||||||||||||||||
Recommended adjustment to earned return on equity | 9.32% | |||||||||||||||||||||||||||||||||||
Return on equity complaint, estimated annual rate reduction | 29,000,000 | 29,000,000 | 29,000,000 | |||||||||||||||||||||||||||||||||
Payments for Legal Settlements | $ 40,000,000 | |||||||||||||||||||||||||||||||||||
Return on Equity and Capital Structure Complaints [Member] | System Energy [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||
ALJ recommended equity capital structure, percentage | 48.15% | |||||||||||||||||||||||||||||||||||
2022 Formula Rate Plan | Entergy Arkansas [Member] | ||||||||||||||||||||||||||||||||||||
Earned return on common equity | 7.29% | |||||||||||||||||||||||||||||||||||
Projected Revenue Deficiency | $ 49,800,000 | |||||||||||||||||||||||||||||||||||
Entergy Cost Recovery Rider | Entergy Arkansas [Member] | ||||||||||||||||||||||||||||||||||||
Energy Cost Recovery Rider Rate Per kWh | $ 0.01639 | |||||||||||||||||||||||||||||||||||
Entergy Cost Recovery Rider | Entergy Arkansas [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||
Energy Cost Recovery Rider Rate Per kWh | $ 0.01883 | |||||||||||||||||||||||||||||||||||
Requested Energy Cost Recovery Rider Rate Per kWh | $ 0.01883 | |||||||||||||||||||||||||||||||||||
2022 Formula Rate Plan Filing | Entergy Louisiana [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 70,700,000 | |||||||||||||||||||||||||||||||||||
Earned return on common equity | 8.33% | |||||||||||||||||||||||||||||||||||
Projected Revenue Deficiency | $ 65,900,000 | |||||||||||||||||||||||||||||||||||
Prospective return on common equity opportunity | 8.38% | |||||||||||||||||||||||||||||||||||
Distribution recovery mechanism revenue requirement | $ 6,000,000 | |||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 85,200,000 | |||||||||||||||||||||||||||||||||||
2022 Formula Rate Plan Filing | Entergy Louisiana [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 4,900,000 | |||||||||||||||||||||||||||||||||||
Annual power management rider [Member] | Entergy Mississippi [Member] | ||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | $ 4,100,000 | |||||||||||||||||||||||||||||||||||
Grid modernization rider [Member] | Entergy Mississippi [Member] | ||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | $ 4,300,000 | |||||||||||||||||||||||||||||||||||
2023 Rate Case Entergy Louisiana | Entergy Louisiana [Member] | ||||||||||||||||||||||||||||||||||||
Prospective return on common equity opportunity | 10.50% | |||||||||||||||||||||||||||||||||||
Projected increase in revenue requirement | $ 430,000,000 | |||||||||||||||||||||||||||||||||||
One-time customer credits | $ 17,000,000 | |||||||||||||||||||||||||||||||||||
2023 Formula Rate Plan Extention Proposal Entergy Louisiana | Entergy Louisiana [Member] | ||||||||||||||||||||||||||||||||||||
Prospective return on common equity opportunity | 10% | |||||||||||||||||||||||||||||||||||
Projected increase in revenue requirement | $ 173,000,000 | |||||||||||||||||||||||||||||||||||
One-time customer credits | $ 17,000,000 | |||||||||||||||||||||||||||||||||||
Request for Extension and Modification of Formula Rate Plan | Entergy New Orleans [Member] | Subsequent Event [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Equity Capital Structure, Percentage | 55% | |||||||||||||||||||||||||||||||||||
Grand Gulf Prudence Complaint [Member] | System Energy, Entergy Services, and Entergy Operations [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingency, Damages Sought, Value | $ 1,000,000,000 | |||||||||||||||||||||||||||||||||||
System Energy Formula Rate Annual Protocols Formal Challenge | Entergy Mississippi [Member] | ||||||||||||||||||||||||||||||||||||
Payments for Legal Settlements | $ 235,000,000 | |||||||||||||||||||||||||||||||||||
Depreciation Amendment Proceeding [Member] | System Energy [Member] | ||||||||||||||||||||||||||||||||||||
Reduction to depreciation expense resulting from differences in depreciation rates | $ 41,000,000 | |||||||||||||||||||||||||||||||||||
Pension Costs Amendment Proceeding [Member] | System Energy [Member] | ||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 8,900,000 | |||||||||||||||||||||||||||||||||||
Test Years 2017-2021 Formula Rate Plan Filings [Member] | Entergy Louisiana [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||
One-time customer credits | $ 5,800,000 | |||||||||||||||||||||||||||||||||||
Test Years 2017-2021 Formula Rate Plan Filings [Member] | Entergy Louisiana [Member] | Subsequent Event [Member] | Associated with Late Fees from 2016 Flood [Member] | ||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Assets and Liabilities | $ 6,200,000 |
Equity (Narrative) (Details)
Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||
Oct. 27, 2023 | Jun. 28, 2023 | Jun. 06, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Nov. 30, 2022 | Jan. 31, 2021 | |
Equity [Abstract] | ||||||||||||||
Common stock dividend (in dollars per share) | $ 1.07 | $ 1.01 | $ 3.21 | $ 3.03 | ||||||||||
Common Stock, Shares Authorized | 499,000,000 | 499,000,000 | 499,000,000 | |||||||||||
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 | 1,000,000 | |||||||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 295,304 | |||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,305,354 | 926,403 | 1,138,384 | 937,350 | ||||||||||
Stock Issued During Period, Shares, New Issues | 0 | 0 | ||||||||||||
Stock Issued During Period, Shares, New Issues | 0 | 0 | ||||||||||||
Equity Distribution Program | ||||||||||||||
Equity [Abstract] | ||||||||||||||
Forward Sale Agreement, Aggregate Compensation to Sales Agents | $ 400 | $ 100 | $ 1,900 | $ 2,500 | $ 1,700 | |||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 468,302 | 4,757,308 | ||||||||||||
Forward Contract Indexed to Equity, Settlement, Cash, Amount | $ 1,126,000 | $ 1,126,000 | ||||||||||||
Equity Distribution Sales Agreement, Maximum Aggregate Gross Sales Price | $ 2,000,000 | |||||||||||||
Common Stock [Member] | Equity Distribution Program | ||||||||||||||
Equity [Abstract] | ||||||||||||||
Forward Contract Indexed to Issuer's Equity, Forward Rate Per Share | $ 101.39 | $ 101.36 | $ 115.46 | $ 116.94 | $ 108.12 | |||||||||
Forward Contract Indexed to Equity, Settlement, Cash, Amount | $ 37,400 | $ 10,500 | $ 194,200 | $ 250,900 | $ 168,000 | $ 194,200 | $ 194,200 | $ 853,300 | ||||||
Forward Contract Indexed to Issuer's Equity, Indexed Shares | 365,307 | 102,995 | 1,666,172 | 2,124,086 | 1,538,010 | 1,666,172 | 1,666,172 | |||||||
Forward Contract Indexed to Equity, Settlement, Number of Shares | 365,307 | 102,995 | 1,666,172 | 2,124,086 | 1,538,010 | 1,666,172 | 1,666,172 | 7,688,419 | ||||||
Entergy Louisiana [Member] | ||||||||||||||
Equity [Abstract] | ||||||||||||||
Members' Equity Attributable to Noncontrolling Interest | 47,214 | $ 47,214 | $ 31,735 | |||||||||||
LURC's percentage of annual dividends | 1% | |||||||||||||
ELL's percentage of annual dividends | 99% | 99% | ||||||||||||
Entergy Louisiana [Member] | Restoration Law Trust I | ||||||||||||||
Equity [Abstract] | ||||||||||||||
Members' Equity Attributable to Noncontrolling Interest | 32,084 | $ 32,084 | 31,735 | |||||||||||
Entergy Arkansas [Member] | ||||||||||||||
Equity [Abstract] | ||||||||||||||
Members' Equity Attributable to Noncontrolling Interest | $ 23,675 | $ 23,675 | $ 27,825 | |||||||||||
System Energy [Member] | ||||||||||||||
Equity [Abstract] | ||||||||||||||
Common Stock, Shares Authorized | 1,000,000 | 1,000,000 | 1,000,000 | |||||||||||
Entergy Texas [Member] | ||||||||||||||
Equity [Abstract] | ||||||||||||||
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 | 200,000,000 | |||||||||||
Subsequent Event [Member] | ||||||||||||||
Equity [Abstract] | ||||||||||||||
Common stock dividend (in dollars per share) | $ 1.13 |
Equity (Schedule Of Earnings Pe
Equity (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net Income Attributable to Entergy Corporation, Shares | 211,459,244 | 203,445,773 | 211,420,117 | 203,259,373 |
Net Income Attributable to Entergy Corporation, $/share | $ 3.15 | $ 2.76 | $ 6.47 | $ 4.90 |
Diluted earnings per share, Shares | 212,238,117 | 204,578,013 | 212,195,735 | 204,357,916 |
Diluted earnings per share $/share | $ 3.14 | $ 2.74 | $ 6.45 | $ 4.88 |
Net Income (Loss) | $ 666.8 | $ 560.6 | $ 1,368.9 | $ 996.7 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,305,354 | 926,403 | 1,138,384 | 937,350 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,305,354 | 926,403 | 1,138,384 | 937,350 |
Employee Stock Option [Member] | ||||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 200,000 | 500,000 | 300,000 | 500,000 |
Average Dilutive Effect Of Stock Options Per Share | $ 0 | $ (0.01) | $ (0.01) | $ (0.01) |
Restricted Stock Units (RSUs) [Member] | ||||
Restricted stock, Shares | 500,000 | 600,000 | 500,000 | 500,000 |
Restricted stock $/share | $ (0.01) | $ (0.01) | $ (0.01) | $ (0.01) |
Forward Contracts [Member] | ||||
Incremental Common Shares Attributable to Dilutive Effect of Equity Forward Agreements | 0 | 100,000 | 0 | 100,000 |
Average Dilutive Effect Of Equity Forwards | $ 0 | $ 0 | $ 0 | $ 0 |
Equity (Accumulated Other Compr
Equity (Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Accumulated other comprehensive loss | $ (195,453) | $ (313,370) | $ (324,038) | $ (195,453) | $ (313,370) | $ (191,754) | $ (332,528) | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 11,905 | 32,197 | ||||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (1,237) | (13,039) | ||||||||
Other comprehensive income (loss) | (2,434) | $ (3,292) | $ 2,027 | 10,668 | 12,540 | $ (4,050) | (3,699) | 19,158 | ||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Accumulated other comprehensive loss | 0 | 1,223 | 0 | 7,154 | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 5,843 | ||||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (1,223) | (12,997) | ||||||||
Other comprehensive income (loss) | (1,223) | (7,154) | ||||||||
Accumulated Other Comprehensive Income [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Other comprehensive income (loss) | (2,434) | (3,292) | 2,027 | 10,668 | 12,540 | (4,050) | ||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Accumulated other comprehensive loss | (195,453) | (193,019) | (312,407) | (324,274) | (195,453) | (312,407) | (191,754) | (338,647) | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (2,434) | 11,867 | (3,699) | 26,240 | ||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | 0 | ||||||||
Other comprehensive income (loss) | (2,434) | 11,867 | (3,699) | 26,240 | ||||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Accumulated other comprehensive loss | (963) | (987) | (963) | (1,035) | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 38 | 114 | ||||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (14) | (42) | ||||||||
Other comprehensive income (loss) | 24 | 72 | ||||||||
Entergy Louisiana [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Accumulated other comprehensive loss | 50,982 | 50,982 | 55,370 | |||||||
Other comprehensive income (loss) | (1,829) | (1,773) | (786) | 295 | (491) | (613) | (4,388) | (809) | ||
Entergy Louisiana [Member] | Accumulated Other Comprehensive Income [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Other comprehensive income (loss) | (1,829) | (1,773) | $ (786) | 295 | (491) | $ (613) | ||||
Entergy Louisiana [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Accumulated other comprehensive loss | 50,982 | $ 52,811 | 7,469 | $ 7,174 | 50,982 | 7,469 | $ 55,370 | $ 8,278 | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (1,829) | 295 | (4,388) | (809) | ||||||
Other comprehensive income (loss) | $ (1,829) | $ 295 | $ (4,388) | $ (809) |
Equity (Reclassification out of
Equity (Reclassification out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,595,522 | $ 4,218,615 | $ 9,422,607 | $ 10,491,737 | ||||
Other Nonoperating Income (Expense) | (18,018) | (10,462) | (121,014) | 32,720 | ||||
Income taxes (benefits) | (226,997) | (184,112) | (282,818) | 109,034 | ||||
Consolidated net income | 669,714 | $ 392,014 | $ 312,299 | 555,882 | $ 164,011 | $ 279,593 | 1,374,026 | 999,486 |
Competitive Businesses [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 36,282 | 62,009 | 96,630 | 300,731 | ||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Consolidated net income | 2,434 | (11,905) | 3,699 | (32,197) | ||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Other Nonoperating Income (Expense) | 0 | (48) | 0 | (145) | ||||
INCOME (LOSS) BEFORE INCOME TAXES | 0 | (48) | 0 | (145) | ||||
Income taxes (benefits) | 0 | 10 | 0 | 31 | ||||
Consolidated net income | 0 | (38) | 0 | (114) | ||||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Income taxes (benefits) | 0 | 3,402 | ||||||
Consolidated net income | 0 | 0 | 0 | (5,843) | ||||
Realized Investment Gains (Losses) | 0 | (9,245) | ||||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Amortization of prior-service credit | 3,396 | 3,837 | 10,191 | 11,511 | ||||
Amortization of loss | 1,700 | (4,870) | 4,994 | (29,774) | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | (1,919) | (14,339) | (10,408) | (15,666) | ||||
INCOME (LOSS) BEFORE INCOME TAXES | 3,177 | (15,372) | 4,777 | (33,929) | ||||
Income taxes (benefits) | (743) | 3,505 | (1,078) | 7,689 | ||||
Consolidated net income | 2,434 | (11,867) | 3,699 | (26,240) | ||||
Entergy Louisiana [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,434,867 | 2,020,798 | 3,985,687 | 4,802,555 | ||||
Other Nonoperating Income (Expense) | (6,411) | 6,835 | (97,079) | 59,338 | ||||
Income taxes (benefits) | (103,889) | (71,453) | (61,621) | 204,989 | ||||
Consolidated net income | 359,307 | $ 263,260 | $ 244,024 | 274,390 | $ 316,659 | $ 150,860 | 866,591 | 741,909 |
Entergy Louisiana [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Amortization of prior-service credit | 951 | 1,158 | 2,853 | 3,474 | ||||
Amortization of loss | 1,574 | (222) | 4,703 | (849) | ||||
Defined Benefit Plan, Accumulated Benefit Obligation, (Increase) Decrease for Settlement and Curtailment | (22) | (1,340) | (1,551) | (1,518) | ||||
INCOME (LOSS) BEFORE INCOME TAXES | 2,503 | (404) | 6,005 | 1,107 | ||||
Income taxes (benefits) | (674) | 109 | (1,617) | (298) | ||||
Consolidated net income | $ 1,829 | $ (295) | $ 4,388 | $ 809 |
Equity (Schedule of Noncontroll
Equity (Schedule of Noncontrolling Interest) (Details) - Entergy Louisiana [Member] - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2022 | |
Equity [Abstract] | ||
Schedule of noncontrolling interest | The dollar value of noncontrolling interests for Entergy Louisiana as of September 30, 2023 and December 31, 2022 is presented below: 2023 2022 (In Thousands) Entergy Louisiana Noncontrolling Interests Restoration Law Trust I (a) $32,084 $31,735 Restoration Law Trust II (b) 15,130 — Total Noncontrolling Interests $47,214 $31,735 (a) See Note 12 to the financial statements herein and Note 17 to the financial statements in the Form 10-K for discussion of Restoration Law Trust I. (b) Restoration Law Trust II (the storm trust II) was established as part of the Act 293 securitization of Entergy Louisiana’s Hurricane Ida storm restoration costs in March 2023. The storm trust II holds preferred membership interests issued by Entergy Finance Company, and Entergy Finance Company is required to make annual distributions (dividends) on the preferred membership interests. These annual dividends paid on the Entergy Finance Company preferred membership interests will be distributed 1% to the LURC and 99% to Entergy Louisiana. Entergy Louisiana, as the primary beneficiary, consolidates the storm trust II and the LURC’s 1% beneficial interest in noncontrolling interests in the consolidated financial statements for Entergy Louisiana and Entergy. See Note 2 to the financial statements herein for a discussion of the Entergy Louisiana March 2023 storm cost securitization. | |
Members' Equity Attributable to Noncontrolling Interest | $ 47,214 | $ 31,735 |
Restoration Law Trust I | ||
Members' Equity Attributable to Noncontrolling Interest | 32,084 | 31,735 |
Restoration Law Trust II | ||
Members' Equity Attributable to Noncontrolling Interest | $ 15,130 | $ 0 |
Revolving Credit Facilities, _3
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Narrative) (Details) $ in Thousands | 1 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2023 USD ($) | Aug. 31, 2023 USD ($) | Jul. 31, 2023 USD ($) | May 31, 2023 USD ($) | Mar. 31, 2023 USD ($) | Jan. 31, 2023 USD ($) | Nov. 30, 2021 USD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Debt Instrument [Line Items] | |||||||||
Amount of Facility | $ 3,500,000 | $ 3,500,000 | |||||||
Amount Drawn/ Outstanding | 0 | 0 | |||||||
Letters Of Credit | 3,000 | 3,000 | |||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 3,497,000 | $ 3,497,000 | |||||||
Commercial Paper Program [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt, weighted average interest rate | 5.35% | 5.35% | |||||||
Commercial Paper program limit | $ 2,000,000 | $ 2,000,000 | |||||||
Commercial Paper Amount Outstanding | 1,351,100 | 1,351,100 | |||||||
Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount of Facility | 3,500,000 | 3,500,000 | |||||||
Amount of total borrowing capacity against which fronting commitments exist | 20,000 | $ 20,000 | |||||||
Line of credit facility, commitment fee percentage | 0.225% | ||||||||
Line of Credit Facility, Interest Rate During Period | 6.44% | ||||||||
Entergy Arkansas [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Authorized Short Term Borrowings | 250,000 | $ 250,000 | |||||||
Amount of total borrowing capacity against which fronting commitments exist | 5,000 | 5,000 | |||||||
Letters of Credit Outstanding, Amount | 1,700 | 1,700 | |||||||
Entergy Arkansas [Member] | 5.15% Series mortgage bonds due January 2033 | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 425,000 | ||||||||
Debt instrument, interest rate, stated percentage | 5.15% | ||||||||
Entergy Arkansas [Member] | Mortgage Bonds Three Point Zero Five Percent Series Due June Two Thousand Twenty Three | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, interest rate, stated percentage | 3.05% | ||||||||
Repayments of Debt | $ 250,000 | ||||||||
Entergy Arkansas [Member] | 5.30% Series mortgage bonds due September 2033 | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 300,000 | ||||||||
Debt instrument, interest rate, stated percentage | 5.30% | ||||||||
Entergy Louisiana [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Authorized Short Term Borrowings | 450,000 | 450,000 | |||||||
Amount of total borrowing capacity against which fronting commitments exist | 15,000 | 15,000 | |||||||
Letters of Credit Outstanding, Amount | $ 900 | $ 900 | |||||||
Entergy Louisiana [Member] | 4.05% Series Mortgage Bonds due September 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, interest rate, stated percentage | 4.05% | 4.05% | |||||||
Repayments of Debt | $ 325,000 | ||||||||
Entergy Mississippi [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Authorized Short Term Borrowings | 200,000 | $ 200,000 | |||||||
Letters of Credit Outstanding, Amount | 600 | 600 | $ 200 | ||||||
Non-MISO letter of credit outstanding | 1,000 | 1,000 | |||||||
Entergy Mississippi [Member] | 5.0% Series mortgage bonds due September 2033 | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 300,000 | ||||||||
Debt instrument, interest rate, stated percentage | 5% | ||||||||
Entergy Mississippi [Member] | 3.10% Series mortgage bonds due July 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, interest rate, stated percentage | 3.10% | ||||||||
Repayments of Debt | $ 250,000 | ||||||||
Entergy Mississippi [Member] | Unsecured Term Loan due December 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Repayments of Debt | 50,000 | ||||||||
Entergy Texas [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Authorized Short Term Borrowings | 200,000 | 200,000 | |||||||
Amount of total borrowing capacity against which fronting commitments exist | 30,000 | 30,000 | |||||||
Letters of Credit Outstanding, Amount | 500 | 500 | 2,400 | ||||||
Entergy Texas [Member] | 5.80% Series mortgage bonds due September 2053 | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 350,000 | ||||||||
Debt instrument, interest rate, stated percentage | 5.80% | ||||||||
System Energy [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Authorized Short Term Borrowings | 200,000 | 200,000 | |||||||
System Energy [Member] | 6.00% Series mortgage bonds due April 2028 | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 325,000 | ||||||||
Debt instrument, interest rate, stated percentage | 6% | ||||||||
System Energy [Member] | Unsecured Term Loan due November 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Repayments of Debt | $ 50,000 | ||||||||
System Energy [Member] | 4.10% Series mortgage bonds due April 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, interest rate, stated percentage | 4.10% | ||||||||
Repayments of Debt | $ 250,000 | ||||||||
Entergy New Orleans [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Authorized Short Term Borrowings | 150,000 | 150,000 | |||||||
Amount of total borrowing capacity against which fronting commitments exist | 10,000 | 10,000 | |||||||
Letters of Credit Outstanding, Amount | 200 | ||||||||
Amount | 8,279 | 8,279 | $ 8,279 | ||||||
Entergy New Orleans [Member] | Unsecured term loan due June 2024 | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 15,000 | ||||||||
Debt instrument, interest rate, stated percentage | 6.25% | ||||||||
Entergy New Orleans [Member] | Unsecured term loan due May 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 70,000 | ||||||||
Debt instrument, interest rate, stated percentage | 2.50% | ||||||||
Entergy New Orleans [Member] | 3.90% Series mortgage bond due July 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, interest rate, stated percentage | 3.90% | ||||||||
Repayments of Debt | $ 100,000 | ||||||||
System Energy VIE [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount Drawn/ Outstanding | 29,200 | $ 29,200 | |||||||
Line of Credit Facility, Interest Rate During Period | 5.90% | ||||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||||
Entergy Arkansas VIE [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount Drawn/ Outstanding | 10,600 | $ 10,600 | |||||||
Line of Credit Facility, Interest Rate During Period | 6.03% | ||||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||||
Entergy Louisiana Waterford VIE [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount Drawn/ Outstanding | 13,900 | $ 13,900 | |||||||
Line of Credit Facility, Interest Rate During Period | 6.04% | ||||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||||
Entergy Louisiana River Bend VIE [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount Drawn/ Outstanding | 57,100 | $ 57,100 | |||||||
Line of Credit Facility, Interest Rate During Period | 6.08% | ||||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||||
Entergy Nuclear Vermont Yankee | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount of Facility | 139,000 | $ 139,000 | |||||||
Amount Drawn/ Outstanding | $ 139,000 | $ 139,000 | |||||||
Debt, weighted average interest rate | 6.47% | 6.47% | |||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.20% | ||||||||
Maximum [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of credit facility, commitment fee percentage | 0.375% | ||||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||||
Maximum [Member] | Entergy Arkansas [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||||
Consolidated debt ratio of total capitalization | 70% | ||||||||
Maximum [Member] | Entergy Louisiana [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||||
Consolidated debt ratio of total capitalization | 70% | ||||||||
Maximum [Member] | Entergy Mississippi [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||||
Maximum [Member] | Entergy Texas [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||||
Maximum [Member] | System Energy [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||||
Consolidated debt ratio of total capitalization | 70% | ||||||||
Maximum [Member] | Entergy New Orleans [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||||
Minimum [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of credit facility, commitment fee percentage | 0.075% | ||||||||
Credit Facility Of Three Hundred Fifty Million [Member] | Entergy Louisiana [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount of Facility | $ 350,000 | $ 350,000 | |||||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||||
Line of Credit Facility, Interest Rate During Period | 6.67% | ||||||||
Credit Facility Of One Hundred And Fifty Million [Member] | Entergy Arkansas [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount of Facility | 150,000 | $ 150,000 | |||||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||||
Line of Credit Facility, Interest Rate During Period | 6.54% | ||||||||
Credit Facility Of One Hundred And Fifty Million [Member] | Entergy Mississippi [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount of Facility | 150,000 | $ 150,000 | |||||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||||
Line of Credit Facility, Interest Rate During Period | 6.54% | ||||||||
Credit Facility Of One Hundred And Fifty Million [Member] | Entergy Texas [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount of Facility | 150,000 | $ 150,000 | |||||||
Letters of Credit Outstanding, Amount | 1,100 | 1,100 | |||||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||||
Line of Credit Facility, Interest Rate During Period | 6.67% | ||||||||
Credit Facility Of Twenty Five Million [Member] | Entergy Arkansas [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount of Facility | 25,000 | $ 25,000 | |||||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||||
Line of Credit Facility, Interest Rate During Period | 7.27% | ||||||||
Credit Facility Of Twenty Five Million [Member] | Entergy New Orleans [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount of Facility | 25,000 | $ 25,000 | |||||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||||
Line of Credit Facility, Interest Rate During Period | 7.04% | ||||||||
Credit Facility of Sixty Five Million [Member] | Entergy Mississippi [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Letters of Credit Outstanding, Amount | 6,700 | $ 6,700 | |||||||
Uncommitted Credit Facility | $ 65,000 | $ 65,000 |
Revolving Credit Facilities, _4
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Credit Facilities) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2022 | |
Amount of Facility | $ 3,500 | |
Amount Drawn/ Outstanding | 0 | |
Entergy Arkansas [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | 5 | |
Letters of Credit Outstanding, Amount | 1.7 | |
Entergy Arkansas [Member] | Credit Facility Of Twenty Five Million [Member] | ||
Amount of Facility | $ 25 | |
Interest Rate | 7.27% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Arkansas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ||
Amount of Facility | $ 150 | |
Interest Rate | 6.54% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Louisiana [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | 15 | |
Letters of Credit Outstanding, Amount | 0.9 | |
Entergy Louisiana [Member] | Credit Facility Of Three Hundred Fifty Million [Member] | ||
Amount of Facility | $ 350 | |
Interest Rate | 6.67% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Mississippi [Member] | ||
Letters of Credit Outstanding, Amount | 0.6 | $ 0.2 |
Entergy Mississippi [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ||
Amount of Facility | $ 150 | |
Interest Rate | 6.54% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy New Orleans [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | 10 | |
Letters of Credit Outstanding, Amount | 0.2 | |
Entergy New Orleans [Member] | Credit Facility Of Twenty Five Million [Member] | ||
Amount of Facility | $ 25 | |
Interest Rate | 7.04% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Texas [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | 30 | |
Letters of Credit Outstanding, Amount | 0.5 | $ 2.4 |
Entergy Texas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ||
Amount of Facility | $ 150 | |
Interest Rate | 6.67% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 1.1 |
Revolving Credit Facilities, _5
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Short-Term Borrowings And The Outstanding Short-Term Borrowings) (Details) $ in Millions | Sep. 30, 2023 USD ($) |
Entergy Arkansas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | $ 250 |
Borrowings | 0 |
Entergy Louisiana [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 450 |
Borrowings | 0 |
Entergy Mississippi [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | 24 |
Entergy New Orleans [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 150 |
Borrowings | 0 |
Entergy Texas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | 0 |
System Energy [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | $ 0 |
Revolving Credit Facilities, _6
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Amount Drawn/ Outstanding | $ 0 |
Entergy Arkansas VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Amount of Facility | $ 80 |
Line of Credit Facility, Interest Rate During Period | 6.03% |
Amount Drawn/ Outstanding | $ 10.6 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
System Energy VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Amount of Facility | $ 120 |
Line of Credit Facility, Interest Rate During Period | 5.90% |
Amount Drawn/ Outstanding | $ 29.2 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
Entergy Louisiana River Bend VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Amount of Facility | $ 105 |
Line of Credit Facility, Interest Rate During Period | 6.08% |
Amount Drawn/ Outstanding | $ 57.1 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
Entergy Louisiana Waterford VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Amount of Facility | $ 105 |
Line of Credit Facility, Interest Rate During Period | 6.04% |
Amount Drawn/ Outstanding | $ 13.9 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
Revolving Credit Facilities, _7
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Notes Payable By Variable Interest Entities) (Details) $ in Millions | Sep. 30, 2023 USD ($) |
Three Point One Seven Percent Series M Notes Due December Two Thousand Twenty Three [Member] | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.17% |
Amount | $ 40 |
Three Point Two Two Percent Series I Notes Due December Two Thousand Twenty Three [Domain] | Entergy Louisiana Waterford VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.22% |
Amount | $ 20 |
Two Point Fifty One Percent Series V Notes Due June 2027 | Entergy Louisiana River Bend VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 2.51% |
Amount | $ 70 |
Two Point Zero Five Percent Series K Notes Due September 2027 | System Energy VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 2.05% |
Amount | $ 90 |
One Point Eight Four Percent Series N Notes Due July Two Thousand Twenty Six | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 1.84% |
Amount | $ 90 |
Five Point Nine Four Percent Series J Notes Due September Two Thousand Twenty Six | Entergy Louisiana Waterford VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 5.94% |
Amount | $ 70 |
Revolving Credit Facilities, _8
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Book Value And The Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Long-term Debt, Fair Value | $ 22,233,532 | $ 22,573,837 |
Long-term Debt, Book Value | 26,183,400 | 25,932,549 |
Entergy Arkansas [Member] | ||
Long-term Debt, Fair Value | 3,910,973 | 3,538,930 |
Long-term Debt, Book Value | 4,650,501 | 4,166,500 |
Entergy Louisiana [Member] | ||
Long-term Debt, Fair Value | 8,893,051 | 9,444,665 |
Long-term Debt, Book Value | 10,399,014 | 10,698,922 |
Entergy Mississippi [Member] | ||
Long-term Debt, Fair Value | 1,935,895 | 1,987,154 |
Long-term Debt, Book Value | 2,329,185 | 2,331,096 |
Entergy New Orleans [Member] | ||
Long-term Debt, Fair Value | 599,005 | 707,872 |
Long-term Debt, Book Value | 685,002 | 775,632 |
Entergy Texas [Member] | ||
Long-term Debt, Fair Value | 2,702,065 | 2,485,705 |
Long-term Debt, Book Value | 3,233,614 | 2,895,913 |
System Energy [Member] | ||
Long-term Debt, Fair Value | 677,274 | 702,473 |
Long-term Debt, Book Value | $ 745,247 | $ 777,905 |
Revolving Credit Facilities, _9
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations) (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Entergy Arkansas [Member] | ||
Letters of Credit Outstanding, Amount | $ 1.7 | |
Entergy Mississippi [Member] | ||
Letters of Credit Outstanding, Amount | 0.6 | $ 0.2 |
Non-MISO letter of credit outstanding | 1 | |
Entergy Louisiana [Member] | ||
Letters of Credit Outstanding, Amount | 0.9 | |
Entergy New Orleans [Member] | ||
Letters of Credit Outstanding, Amount | 0.2 | |
Entergy Texas [Member] | ||
Letters of Credit Outstanding, Amount | 0.5 | $ 2.4 |
Credit Facility Of Twenty Five Million [Member] | Entergy Arkansas [Member] | ||
Uncommitted Credit Facility | $ 25 | |
Letter of Credit Fee, Percentage | 0.78% | |
Letters of Credit Outstanding, Amount | $ 7.8 | |
Credit Facility of Fifteen Million [Member] | Entergy New Orleans [Member] | ||
Uncommitted Credit Facility | $ 15 | |
Letter of Credit Fee, Percentage | 1.625% | |
Letters of Credit Outstanding, Amount | $ 1 | |
Credit Facility Of One Hundred Twenty Five Million [Member] | Entergy Louisiana [Member] | ||
Uncommitted Credit Facility | $ 125 | |
Letter of Credit Fee, Percentage | 0.78% | |
Letters of Credit Outstanding, Amount | $ 11.2 | |
Credit Facility of Sixty Five Million [Member] | Entergy Mississippi [Member] | ||
Uncommitted Credit Facility | $ 65 | |
Letter of Credit Fee, Percentage | 0.78% | |
Letters of Credit Outstanding, Amount | $ 6.7 | |
Credit Facility of Eighty Million | Entergy Texas [Member] | ||
Uncommitted Credit Facility | $ 80 | |
Letter of Credit Fee, Percentage | 1.25% | |
Letters of Credit Outstanding, Amount | $ 12.8 |
Stock Based Compensation (Narra
Stock Based Compensation (Narrative) (Details) - 2019 Omnibus Incentive Plan - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | |
Jan. 26, 2023 | Jan. 31, 2023 | Mar. 31, 2023 | Sep. 30, 2023 | |
Long Term Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock option granted (in shares) | 143,212 | |||
Percent of performance measure based on relative total shareholder return | 80% | 80% | ||
Percent of performance measure based on cumulative adjusted EPS metric | 20% | 20% | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | 143,212 | |||
Long Term Incentive Plan [Member] | Performance measure based on relative total shareholder return [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Restricted stock awards granted value (in dollars per share) | $ 130.65 | |||
Long Term Incentive Plan [Member] | Performance measure based on cumulative adjusted earnings per share metric [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Restricted stock awards granted value (in dollars per share) | 108.47 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock option granted (in shares) | 281,874 | |||
Weighted-average grant-date fair value of options granted (in dollars per share) | $ 20.07 | |||
Intrinsic value in the money stock options | $ 16.6 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,950,625 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 97.49 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock option granted (in shares) | 345,983 | |||
Restricted stock awards granted value (in dollars per share) | $ 108.47 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | 345,983 |
Stock-Based Compensation (Finan
Stock-Based Compensation (Financial Information For Stock Options) (Details) - Employee Stock Option [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Employee service share-based compensation, aggregate disclosures | ||||
Compensation expense included in Entergy's net income | $ 1.1 | $ 0.9 | $ 3.2 | $ 3.2 |
Tax benefit recognized in Entergy's net income | 0.3 | 0.2 | 0.9 | 0.8 |
Compensation cost capitalized as part of fixed assets and inventory | $ 0.5 | $ 0.4 | $ 1.6 | $ 1.2 |
Stock-Based Compensation (Fin_2
Stock-Based Compensation (Financial Information For Other Equity Plans) (Details) - Other Equity Awards [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Employee service share-based compensation, aggregate disclosures | ||||
Compensation expense included in Entergy's net income | $ 9.3 | $ 9.1 | $ 27.1 | $ 31.1 |
Tax benefit recognized in Entergy's net income | 2.4 | 2.3 | 7 | 7.9 |
Compensation cost capitalized as part of fixed assets and inventory | $ 4.2 | $ 3.9 | $ 11.8 | $ 12.6 |
Retirement And Other Postreti_3
Retirement And Other Postretirement Benefits (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Entergy Arkansas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | $ 54,468 | $ 54,468 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 54,468 | ||||
Entergy Louisiana [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 44,565 | 44,565 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 44,565 | ||||
Entergy Mississippi [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 21,110 | 21,110 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 21,110 | ||||
Entergy New Orleans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 1,420 | 1,420 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 1,420 | ||||
Entergy Texas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 5,314 | 5,314 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 5,314 | ||||
Difference between rate case pension amounts and actuarially determined pension amounts | 39,300 | 39,300 | |||
System Energy [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 15,543 | 15,543 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 15,543 | ||||
Subsequent Event [Member] | Entergy Arkansas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 | ||||
Subsequent Event [Member] | Entergy Louisiana [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | ||||
Subsequent Event [Member] | Entergy Mississippi [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | ||||
Subsequent Event [Member] | Entergy New Orleans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | ||||
Subsequent Event [Member] | Entergy Texas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | ||||
Subsequent Event [Member] | System Energy [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 | ||||
Non Qualified Pension Plans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 21,800 | $ 5,900 | 39,800 | $ 23,300 | |
Defined Benefit Plan, Plan Assets, Payment for Settlement | 18,000 | 1,400 | 27,300 | 9,200 | |
Non Qualified Pension Plans [Member] | Entergy Arkansas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 63 | 69 | 575 | 212 | |
Defined Benefit Plan, Plan Assets, Payment for Settlement | 379 | ||||
Non Qualified Pension Plans [Member] | Entergy Louisiana [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 24 | 24 | 76 | 77 | |
Non Qualified Pension Plans [Member] | Entergy Mississippi [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 85 | 80 | 724 | 241 | |
Defined Benefit Plan, Plan Assets, Payment for Settlement | 453 | 2 | |||
Non Qualified Pension Plans [Member] | Entergy New Orleans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 33 | 28 | 99 | 84 | |
Non Qualified Pension Plans [Member] | Entergy Texas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 63 | 961 | 190 | 1,264 | |
Defined Benefit Plan, Plan Assets, Payment for Settlement | 886 | 1,000 | |||
Pension Plans Defined Benefit [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 267,000 | ||||
Net other postretirement benefit cost | 29,495 | 162,291 | 225,716 | 273,676 | |
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | (6,914) | (125,548) | (152,588) | (148,201) | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 267,000 | 267,000 | |||
Pension Plans Defined Benefit [Member] | Entergy Arkansas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 6,736 | 21,033 | 45,079 | 53,160 | |
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | (558) | (11,477) | (24,516) | (22,973) | |
Pension Plans Defined Benefit [Member] | Entergy Louisiana [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 7,488 | 43,861 | 60,477 | 70,355 | |
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | (561) | (33,507) | (38,791) | (37,968) | |
Pension Plans Defined Benefit [Member] | Entergy Mississippi [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 2,288 | 10,124 | 18,596 | 19,074 | |
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | (345) | (6,853) | (12,088) | (9,061) | |
Pension Plans Defined Benefit [Member] | Entergy New Orleans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 657 | 5,181 | 3,139 | 6,669 | |
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | (248) | (4,402) | (1,948) | (4,402) | |
Pension Plans Defined Benefit [Member] | Entergy Texas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 1,705 | 14,897 | 14,450 | 20,172 | |
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | (632) | (13,082) | (10,902) | (15,547) | |
Pension Plans Defined Benefit [Member] | System Energy [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net other postretirement benefit cost | 1,889 | 7,498 | 10,750 | 15,527 | |
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | $ (228) | $ (4,593) | $ (5,518) | $ (6,616) |
Retirement And Other Postreti_4
Retirement And Other Postretirement Benefits (Components Of Qualified Net Pension Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Pension Plans Defined Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | $ 25,302 | $ 33,845 | $ 76,346 | $ 108,482 |
Interest cost on projected benefit obligation | 73,850 | 60,734 | 223,584 | 164,529 |
Expected return on assets | (96,775) | (100,203) | (290,660) | (306,895) |
Amortization of loss | 20,204 | 42,367 | 63,858 | 159,359 |
Net other postretirement benefit cost | 29,495 | 162,291 | 225,716 | 273,676 |
Pension Plans Defined Benefit [Member] | Entergy Arkansas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 4,566 | 6,138 | 13,976 | 19,695 |
Interest cost on projected benefit obligation | 13,813 | 11,866 | 42,010 | 30,944 |
Expected return on assets | (17,639) | (18,731) | (53,593) | (57,009) |
Amortization of loss | 5,438 | 10,283 | 18,170 | 36,557 |
Net other postretirement benefit cost | 6,736 | 21,033 | 45,079 | 53,160 |
Pension Plans Defined Benefit [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 6,175 | 8,261 | 18,654 | 26,405 |
Interest cost on projected benefit obligation | 14,896 | 12,523 | 45,219 | 33,706 |
Expected return on assets | (18,892) | (20,586) | (56,891) | (62,779) |
Amortization of loss | 4,748 | 10,156 | 14,704 | 35,055 |
Net other postretirement benefit cost | 7,488 | 43,861 | 60,477 | 70,355 |
Pension Plans Defined Benefit [Member] | Entergy Mississippi [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,431 | 1,953 | 4,369 | 6,158 |
Interest cost on projected benefit obligation | 3,797 | 3,383 | 11,551 | 8,857 |
Expected return on assets | (4,830) | (5,006) | (14,349) | (15,373) |
Amortization of loss | 1,545 | 2,941 | 4,937 | 10,371 |
Net other postretirement benefit cost | 2,288 | 10,124 | 18,596 | 19,074 |
Pension Plans Defined Benefit [Member] | Entergy New Orleans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 492 | 690 | 1,470 | 2,194 |
Interest cost on projected benefit obligation | 1,667 | 1,368 | 5,051 | 3,646 |
Expected return on assets | (2,206) | (2,487) | (6,783) | (7,517) |
Amortization of loss | 456 | 1,208 | 1,453 | 3,944 |
Net other postretirement benefit cost | 657 | 5,181 | 3,139 | 6,669 |
Pension Plans Defined Benefit [Member] | Entergy Texas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,074 | 1,441 | 3,271 | 4,652 |
Interest cost on projected benefit obligation | 3,138 | 2,795 | 9,542 | 7,242 |
Expected return on assets | (4,147) | (4,551) | (12,322) | (14,393) |
Amortization of loss | 1,008 | 2,130 | 3,057 | 7,124 |
Net other postretirement benefit cost | 1,705 | 14,897 | 14,450 | 20,172 |
Pension Plans Defined Benefit [Member] | System Energy [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,430 | 1,891 | 4,342 | 5,937 |
Interest cost on projected benefit obligation | 3,419 | 2,882 | 10,382 | 7,614 |
Expected return on assets | (4,392) | (4,509) | (13,431) | (13,718) |
Amortization of loss | 1,204 | 2,641 | 3,939 | 9,078 |
Net other postretirement benefit cost | 1,889 | 7,498 | 10,750 | 15,527 |
Other Postretirement [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 3,664 | 6,184 | 10,992 | 18,552 |
Interest cost on projected benefit obligation | 10,568 | 6,827 | 31,704 | 20,481 |
Expected return on assets | (9,183) | (10,855) | (27,549) | (32,565) |
Amortization of prior service cost (credit) | (5,640) | (6,388) | (16,920) | (19,164) |
Amortization of loss | (2,862) | 1,083 | (8,586) | 3,249 |
Net other postretirement benefit cost | (3,453) | (3,149) | (10,359) | (9,447) |
Other Postretirement [Member] | Entergy Arkansas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 741 | 1,114 | 2,223 | 3,342 |
Interest cost on projected benefit obligation | 2,001 | 1,263 | 6,003 | 3,789 |
Expected return on assets | (3,778) | (4,483) | (11,334) | (13,449) |
Amortization of prior service cost (credit) | 524 | 471 | 1,572 | 1,413 |
Amortization of loss | 43 | 218 | 129 | 654 |
Net other postretirement benefit cost | (469) | (1,417) | (1,407) | (4,251) |
Other Postretirement [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 845 | 1,408 | 2,535 | 4,224 |
Interest cost on projected benefit obligation | 2,233 | 1,443 | 6,699 | 4,329 |
Expected return on assets | 0 | 0 | 0 | 0 |
Amortization of prior service cost (credit) | (951) | (1,158) | (2,853) | (3,474) |
Amortization of loss | (1,764) | (186) | (5,292) | (558) |
Net other postretirement benefit cost | 363 | 1,507 | 1,089 | 4,521 |
Other Postretirement [Member] | Entergy Mississippi [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 220 | 339 | 660 | 1,017 |
Interest cost on projected benefit obligation | 543 | 350 | 1,629 | 1,050 |
Expected return on assets | (1,179) | (1,394) | (3,537) | (4,182) |
Amortization of prior service cost (credit) | (239) | (443) | (717) | (1,329) |
Amortization of loss | 21 | 56 | 63 | 168 |
Net other postretirement benefit cost | (634) | (1,092) | (1,902) | (3,276) |
Other Postretirement [Member] | Entergy New Orleans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 59 | 99 | 177 | 297 |
Interest cost on projected benefit obligation | 290 | 174 | 870 | 522 |
Expected return on assets | (1,316) | (1,499) | (3,948) | (4,497) |
Amortization of prior service cost (credit) | (229) | (229) | (687) | (687) |
Amortization of loss | 117 | (225) | 351 | (675) |
Net other postretirement benefit cost | (1,079) | (1,680) | (3,237) | (5,040) |
Other Postretirement [Member] | Entergy Texas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 202 | 331 | 606 | 993 |
Interest cost on projected benefit obligation | 649 | 399 | 1,947 | 1,197 |
Expected return on assets | (2,194) | (2,568) | (6,582) | (7,704) |
Amortization of prior service cost (credit) | (1,093) | (1,093) | (3,279) | (3,279) |
Amortization of loss | 229 | 162 | 687 | 486 |
Net other postretirement benefit cost | (2,207) | (2,769) | (6,621) | (8,307) |
Other Postretirement [Member] | System Energy [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 189 | 310 | 567 | 930 |
Interest cost on projected benefit obligation | 432 | 279 | 1,296 | 837 |
Expected return on assets | (634) | (791) | (1,902) | (2,373) |
Amortization of prior service cost (credit) | (73) | (80) | (219) | (240) |
Amortization of loss | 0 | 30 | 0 | 90 |
Net other postretirement benefit cost | (86) | (252) | (258) | (756) |
Non Qualified Pension Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 21,800 | 5,900 | 39,800 | 23,300 |
Non Qualified Pension Plans [Member] | Entergy Arkansas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 63 | 69 | 575 | 212 |
Non Qualified Pension Plans [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 24 | 24 | 76 | 77 |
Non Qualified Pension Plans [Member] | Entergy Mississippi [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 85 | 80 | 724 | 241 |
Non Qualified Pension Plans [Member] | Entergy New Orleans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 33 | 28 | 99 | 84 |
Non Qualified Pension Plans [Member] | Entergy Texas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | $ 63 | $ 961 | $ 190 | $ 1,264 |
Retirement And Other Postreti_5
Retirement And Other Postretirement Benefits (Expected Employer Contributions) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Dec. 31, 2023 | Sep. 30, 2023 | |
Entergy Louisiana [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | $ 44,565 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 44,565 | |
Entergy Louisiana [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 | |
Entergy Mississippi [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 21,110 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 21,110 | |
Entergy Mississippi [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | |
Entergy New Orleans [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 1,420 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 1,420 | |
Entergy New Orleans [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | |
Entergy Texas [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 5,314 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 5,314 | |
Entergy Texas [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | |
System Energy [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 15,543 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 15,543 | |
System Energy [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | |
Entergy Arkansas [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 54,468 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 54,468 | |
Entergy Arkansas [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 |
Retirement And Other Postreti_6
Retirement And Other Postretirement Benefits (Reclassification Out Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | $ 3,396 | $ 3,837 | $ 10,191 | $ 11,511 |
Amortization of loss | 1,700 | (4,870) | 4,994 | (29,774) |
Total | 3,177 | (15,372) | 4,777 | (33,929) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (1,919) | (14,339) | (10,408) | (15,666) |
Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 951 | 1,158 | 2,853 | 3,474 |
Amortization of loss | 1,574 | (222) | 4,703 | (849) |
Total | 2,503 | (404) | 6,005 | 1,107 |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (22) | (1,340) | (1,551) | (1,518) |
Pension Plans Defined Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of loss | (1,064) | (3,976) | (3,208) | (26,921) |
Total | (1,554) | (18,239) | (10,654) | (41,362) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (490) | (14,263) | (7,446) | (14,441) |
Pension Plans Defined Benefit [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of loss | (190) | (407) | (588) | (1,404) |
Total | (212) | (1,747) | (2,139) | (2,922) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (22) | (1,340) | (1,551) | (1,518) |
Other Postretirement [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 3,509 | 4,014 | 10,529 | 12,042 |
Amortization of loss | 2,898 | (596) | 8,693 | (1,788) |
Total | 6,407 | 3,418 | 19,222 | 10,254 |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | 0 | 0 | 0 | 0 |
Other Postretirement [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 951 | 1,158 | 2,853 | 3,474 |
Amortization of loss | 1,764 | 186 | 5,292 | 558 |
Total | 2,715 | 1,344 | 8,145 | 4,032 |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | 0 | 0 | 0 | 0 |
Non Qualified Pension Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | (113) | (177) | (338) | (531) |
Amortization of loss | (134) | (298) | (491) | (1,065) |
Total | (1,676) | (551) | (3,791) | (2,821) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (1,429) | (76) | (2,962) | (1,225) |
Non Qualified Pension Plans [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of loss | 0 | (1) | (1) | (3) |
Total | 0 | (1) | (1) | (3) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | $ 0 | $ 0 | $ 0 | $ 0 |
Business Segment Information (S
Business Segment Information (Segment Financial Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Segment Financial Information | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,595,522 | $ 4,218,615 | $ 9,422,607 | $ 10,491,737 | |||||
Income taxes (benefits) | 226,997 | 184,112 | 282,818 | (109,034) | |||||
Consolidated net income | 669,714 | $ 392,014 | $ 312,299 | 555,882 | $ 164,011 | $ 279,593 | 1,374,026 | 999,486 | |
Assets | 60,552,147 | 60,552,147 | $ 58,595,191 | ||||||
Utility [Member] | |||||||||
Segment Financial Information | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,559,240 | 4,156,616 | 9,325,977 | 10,191,041 | |||||
Income taxes (benefits) | 225,989 | 178,088 | 304,352 | (118,257) | |||||
Consolidated net income | 754,036 | 667,162 | 1,666,701 | 1,166,866 | |||||
Assets | 64,924,653 | 64,924,653 | 61,399,243 | ||||||
Corporate and Other | |||||||||
Segment Financial Information | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 36,302 | 62,009 | 96,661 | 300,720 | |||||
Income taxes (benefits) | 1,008 | 6,024 | (21,534) | 9,223 | |||||
Consolidated net income | (3,304) | (55,870) | (74,257) | (36,772) | |||||
Assets | 839,217 | 839,217 | 884,442 | ||||||
Eliminations | |||||||||
Segment Financial Information | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | (20) | (10) | (31) | (24) | |||||
Income taxes (benefits) | 0 | 0 | 0 | 0 | |||||
Consolidated net income | (81,018) | $ (55,410) | (218,418) | $ (130,608) | |||||
Assets | $ (5,211,723) | $ (5,211,723) | $ (3,688,494) |
Risk Management and Fair Valu_3
Risk Management and Fair Values (Narrative) (Details) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 USD ($) GWh MMBTU | Dec. 31, 2022 USD ($) | |
Total volume of fixed transmission rights outstanding | GWh | 100,632 | |
Letters Of Credit | $ 3 | |
Entergy Arkansas [Member] | ||
Letters of Credit Outstanding, Amount | $ 1.7 | |
Total volume of fixed transmission rights outstanding | GWh | 25,018 | |
Entergy Louisiana [Member] | ||
Letters of Credit Outstanding, Amount | $ 0.9 | |
Total volume of fixed transmission rights outstanding | GWh | 42,908 | |
Entergy Mississippi [Member] | ||
Letters of Credit Outstanding, Amount | $ 0.6 | $ 0.2 |
Total volume of fixed transmission rights outstanding | GWh | 12,949 | |
Entergy New Orleans [Member] | ||
Letters of Credit Outstanding, Amount | 0.2 | |
Total volume of fixed transmission rights outstanding | GWh | 3,960 | |
Entergy Texas [Member] | ||
Letters of Credit Outstanding, Amount | $ 0.5 | 2.4 |
Total volume of fixed transmission rights outstanding | GWh | 15,596 | |
Gas Hedge Contracts [Member] | ||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 16,033,600 | |
Gas Hedge Contracts [Member] | Entergy Louisiana [Member] | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 6 months | |
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 3,660,000 | |
Gas Hedge Contracts [Member] | Entergy Mississippi [Member] | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 6 months | |
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 11,256,600 | |
Gas Hedge Contracts [Member] | Entergy New Orleans [Member] | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 6 months | |
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 1,117,000 | |
Entergy Wholesale Commodities [Member] | ||
Cash collateral posted | 8 | |
Utility [Member] | ||
Letters Of Credit | $ 4 | $ 3 |
Risk Management and Fair Valu_4
Risk Management and Fair Values (Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Entergy Wholesale Commodities [Member] | ||
Liabilities: | ||
Cash collateral posted | $ 8 | |
Other Deferred Debits And Other Assets [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | 3 | |
Derivative, Collateral, Obligation to Return Cash | $ 0 | |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets, Noncurrent | |
Prepayments And Other [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | $ 1 | $ 13 |
Derivative, Collateral, Obligation to Return Cash | $ 0 | $ 0 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets | Prepaid Expense and Other Assets |
Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | $ 33 | $ 21 |
Derivative, Collateral, Obligation to Return Cash | $ (1) | $ (2) |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets | Prepaid Expense and Other Assets |
Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | $ 7 | $ 25 |
Derivative, Collateral, Right to Reclaim Cash | $ 0 | $ 0 |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities, Current | Other Liabilities, Current |
Entergy Louisiana [Member] | ||
Liabilities: | ||
Letters of Credit Outstanding, Amount | $ 0.9 | |
Entergy Louisiana [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets | Prepaid Expense and Other Assets |
Entergy Louisiana [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets | Prepaid Expense and Other Assets |
Entergy Louisiana [Member] | Other Deferred Debits And Other Assets [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | $ 3.4 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | $ 1 | 13.1 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | 14.7 | 7.7 |
Derivative, Collateral, Obligation to Return Cash | 0 | (0.4) |
Entergy Mississippi [Member] | ||
Liabilities: | ||
Letters of Credit Outstanding, Amount | $ 0.6 | $ 0.2 |
Entergy Mississippi [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities, Current | Other Liabilities, Current |
Entergy Mississippi [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets | Prepaid Expense and Other Assets |
Entergy Mississippi [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | $ 1.2 | $ 0.6 |
Derivative, Collateral, Obligation to Return Cash | 0.1 | 0 |
Entergy Mississippi [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 7.1 | 24 |
Derivative, Collateral, Right to Reclaim Cash | $ 0 | 0 |
Entergy New Orleans [Member] | ||
Liabilities: | ||
Letters of Credit Outstanding, Amount | $ 0.2 | |
Entergy New Orleans [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities, Current | Other Liabilities, Current |
Entergy New Orleans [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets | Prepaid Expense and Other Assets |
Entergy New Orleans [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | $ 1.3 | $ 0.8 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Entergy New Orleans [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 0.3 | 1.5 |
Derivative, Collateral, Right to Reclaim Cash | 0 | $ 0 |
Entergy Arkansas [Member] | ||
Liabilities: | ||
Letters of Credit Outstanding, Amount | $ 1.7 | |
Entergy Arkansas [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets | Prepaid Expense and Other Assets |
Entergy Arkansas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | $ 11.7 | $ 10.3 |
Derivative, Collateral, Obligation to Return Cash | (0.1) | 0 |
Entergy Texas [Member] | ||
Liabilities: | ||
Letters of Credit Outstanding, Amount | $ 0.5 | $ 2.4 |
Entergy Texas [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets | Prepaid Expense and Other Assets |
Entergy Texas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset, Fair Value, Gross Asset | $ 3.6 | $ 1.2 |
Derivative, Collateral, Obligation to Return Cash | $ (0.3) | $ 1.1 |
Risk Management and Fair Valu_5
Risk Management and Fair Values (Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | |
Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | |
Entergy Arkansas [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Letters of Credit Outstanding, Amount | $ 1.7 | $ 1.7 | |||
Entergy Arkansas [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | |
Entergy Louisiana [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Letters of Credit Outstanding, Amount | $ 0.9 | $ 0.9 | |||
Entergy Louisiana [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Other Assets, Noncurrent | ||||
Entergy Louisiana [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | |
Entergy Louisiana [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | |
Entergy Mississippi [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Letters of Credit Outstanding, Amount | $ 0.6 | $ 0.6 | $ 0.2 | ||
Entergy Mississippi [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | Other Current Liabilities [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative Liability, Fair Value, Gross Liability | 7.1 | 7.1 | 24 | ||
Derivative, Collateral, Right to Reclaim Cash | $ 0 | $ 0 | 0 | ||
Entergy Mississippi [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | |
Entergy Mississippi [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | |
Entergy New Orleans [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Letters of Credit Outstanding, Amount | 0.2 | ||||
Entergy New Orleans [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | Other Current Liabilities [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative Liability, Fair Value, Gross Liability | $ 0.3 | $ 0.3 | 1.5 | ||
Derivative, Collateral, Right to Reclaim Cash | $ 0 | $ 0 | 0 | ||
Entergy New Orleans [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | Utilities Operating Expense, Fuel Used | |
Entergy New Orleans [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | |
Entergy Texas [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Letters of Credit Outstanding, Amount | $ 0.5 | $ 0.5 | $ 2.4 | ||
Entergy Texas [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | |||||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power | Utilities Operating Expense, Purchased Power |
Risk Management and Fair Valu_6
Risk Management and Fair Values (Assets And Liabilities At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | $ 1,414,486 | $ 108,874 |
Assets at fair value on a recurring basis | ||
Securitization recovery trust account | 18,000 | 13,000 |
Replacement Reserve Escrow | 416,000 | 402,000 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 6,299,000 | 4,681,000 |
Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 7,000 | 25,000 |
Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 1,660,000 | 1,656,000 |
Common trust funds valued using Net Asset Value [Domain] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 2,741,000 | 2,442,000 |
Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 1,000 | 16,000 |
Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 32,000 | 19,000 |
Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 17,000 | 24,000 |
Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 1,414,000 | 109,000 |
Assets at fair value on a recurring basis | ||
Securitization recovery trust account | 18,000 | 13,000 |
Replacement Reserve Escrow | 416,000 | 402,000 |
Equity Securities, FV-NI | 17,000 | 24,000 |
Debt Securities | 567,000 | 534,000 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 2,433,000 | 1,095,000 |
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 7,000 | 25,000 |
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 1,000 | 13,000 |
Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Securitization recovery trust account | 0 | 0 |
Replacement Reserve Escrow | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Debt Securities | 1,093,000 | 1,122,000 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 1,093,000 | 1,125,000 |
Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 3,000 |
Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Securitization recovery trust account | 0 | 0 |
Replacement Reserve Escrow | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Debt Securities | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 32,000 | 19,000 |
Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 32,000 | 19,000 |
Entergy New Orleans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 114,372 | 4,437 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 5,672 | 2,235 |
Replacement Reserve Escrow | 77,700 | 75,000 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 199,100 | 82,400 |
Entergy New Orleans [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 300 | 1,500 |
Entergy New Orleans [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 1,300 | 800 |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 114,400 | 4,400 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 5,700 | 2,200 |
Replacement Reserve Escrow | 77,700 | 75,000 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 197,800 | 81,600 |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 300 | 1,500 |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Replacement Reserve Escrow | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 0 | 0 |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Replacement Reserve Escrow | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 1,300 | 800 |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 1,300 | 800 |
Entergy Mississippi [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 10,290 | 16,953 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 34,700 | 33,500 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 46,100 | 51,100 |
Entergy Mississippi [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 7,100 | 24,000 |
Entergy Mississippi [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 1,100 | 600 |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 10,300 | 17,000 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 34,700 | 33,500 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 45,000 | 50,500 |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 7,100 | 24,000 |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 0 | 0 |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 1,100 | 600 |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 1,100 | 600 |
Entergy Louisiana [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 765,759 | 6,295 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 303,900 | 293,400 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 2,998,300 | 2,102,600 |
Entergy Louisiana [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 736,800 | 725,100 |
Entergy Louisiana [Member] | Common trust funds valued using Net Asset Value [Domain] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 1,165,500 | 1,037,200 |
Entergy Louisiana [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 1,000 | 16,500 |
Entergy Louisiana [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 14,700 | 7,300 |
Entergy Louisiana [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 10,600 | 16,800 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 765,800 | 6,300 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 303,900 | 293,400 |
Equity Securities, FV-NI | 10,600 | 16,800 |
Debt Securities | 243,300 | 209,400 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 1,324,600 | 539,000 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 1,000 | 13,100 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Debt Securities | 493,500 | 515,700 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 493,500 | 519,100 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 3,400 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Debt Securities | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 14,700 | 7,300 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 14,700 | 7,300 |
Entergy Arkansas [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 110,262 | 3,367 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 1,407,500 | 1,213,600 |
Entergy Arkansas [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 470,900 | 470,700 |
Entergy Arkansas [Member] | Common trust funds valued using Net Asset Value [Domain] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 812,300 | 724,700 |
Entergy Arkansas [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 11,600 | 10,300 |
Entergy Arkansas [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 2,400 | 4,500 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 110,300 | 3,400 |
Assets at fair value on a recurring basis | ||
Equity Securities, FV-NI | 2,400 | 4,500 |
Debt Securities | 128,800 | 126,800 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 241,500 | 134,700 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Equity Securities, FV-NI | 0 | 0 |
Debt Securities | 342,100 | 343,900 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 342,100 | 343,900 |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Equity Securities, FV-NI | 0 | 0 |
Debt Securities | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 11,600 | 10,300 |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 11,600 | 10,300 |
Entergy Texas [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 249,561 | 2,997 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 12,281 | 10,879 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 265,200 | 14,000 |
Entergy Texas [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 3,300 | 100 |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 249,600 | 3,000 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 12,300 | 10,900 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 261,900 | 13,900 |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Texas [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 0 | 0 |
Entergy Texas [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Texas [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 3,300 | 100 |
Entergy Texas [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | ||
Assets at fair value on a recurring basis | ||
Derivative Asset | 3,300 | 100 |
System Energy [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 94,502 | 2,862 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 1,313,700 | 1,145,800 |
System Energy [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 452,800 | 459,700 |
System Energy [Member] | Common trust funds valued using Net Asset Value [Domain] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 762,300 | 680,400 |
System Energy [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Decommissioning Fund Investments, Fair Value | 4,100 | 2,800 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 94,500 | 2,900 |
Assets at fair value on a recurring basis | ||
Equity Securities, FV-NI | 4,100 | 2,800 |
Debt Securities | 195,500 | 197,500 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 294,100 | 203,200 |
System Energy [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Equity Securities, FV-NI | 0 | 0 |
Debt Securities | 257,300 | 262,200 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 257,300 | 262,200 |
System Energy [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Equity Securities, FV-NI | 0 | 0 |
Debt Securities | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Risk Management and Fair Valu_7
Risk Management and Fair Values (Reconciliation Of Changes In The Net Assets (Liabilities) For The Fair Value Of Derivatives Classified As Level 3 In The Fair Value Hierarchy) (Details) - Fixed Transmission Rights (FTRs) [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 32 | $ 21 | $ 32 | $ 21 | $ 40 | $ 19 | $ 12 | $ 4 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 40 | 39 | 67 | 91 | ||||
Issuance of Financial Transmission Rights | 42 | 16 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (48) | (30) | (96) | (90) | ||||
Entergy Arkansas [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 11.6 | 9.6 | 11.6 | 9.6 | 19.6 | 10.3 | 4.4 | 2.3 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 37.7 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 2.2 | 17.6 | (1.1) | |||||
Issuance of Financial Transmission Rights | 20.6 | 5.4 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (10.2) | (12.4) | (18.2) | (35.8) | ||||
Entergy Louisiana [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 14.7 | 9.4 | 14.7 | 9.4 | 16.7 | 7.3 | 4.7 | 0.6 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 39.2 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 16.3 | 14.9 | 36 | |||||
Issuance of Financial Transmission Rights | 18.1 | 5.3 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (18.3) | (10.2) | (46.7) | (35.7) | ||||
Entergy Mississippi [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 1.1 | 1.5 | 1.1 | 1.5 | 1.2 | 0.6 | 0.5 | 0.3 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 8.4 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 6.5 | 5.8 | 10.2 | |||||
Issuance of Financial Transmission Rights | 1.4 | 0.8 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (6.6) | (4.8) | (11.1) | (8) | ||||
Entergy New Orleans [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 1.3 | 1.1 | 1.3 | 1.1 | 1.5 | 0.8 | 0.6 | 0.1 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 3.2 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 2.2 | 1.1 | 3.9 | |||||
Issuance of Financial Transmission Rights | 1.4 | 0.8 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (2.4) | (0.6) | (4.8) | (3) | ||||
Entergy Texas [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 3.3 | 3.3 | $ 1.2 | $ 0.1 | $ 1.5 | $ 0.8 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 2.1 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 12.5 | 0.4 | 17.5 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | (0.4) | (0.4) | ||||||
Issuance of Financial Transmission Rights | 0.2 | 3.9 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | $ (10.4) | $ (2.3) | $ (14.5) | $ (7.2) |
Risk Management and Fair Valu_8
Risk Management and Fair Values (Schedules Of Valuation Techniques) (Details) - Gas Hedge Contracts [Member] | 9 Months Ended |
Sep. 30, 2023 | |
Entergy Louisiana [Member] | |
Maximum Length of Time Hedged in Cash Flow Hedge | 6 months |
Entergy Mississippi [Member] | |
Maximum Length of Time Hedged in Cash Flow Hedge | 6 months |
Entergy New Orleans [Member] | |
Maximum Length of Time Hedged in Cash Flow Hedge | 6 months |
Decommissioning Trust Funds (Na
Decommissioning Trust Funds (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Jun. 28, 2022 | |
Decommissioning Trust Funds [Abstract] | ||||||
Amortized cost of debt securities | $ 1,881,000,000 | $ 1,881,000,000 | $ 1,852,000,000 | |||
Average coupon rate of debt securities | 3.37% | 3.37% | ||||
Average duration of debt securities, years | 6 years 3 months 18 days | |||||
Average maturity of debt securities, years | 10 years 8 months 15 days | |||||
Proceeds from the dispositions of debt securities | $ 226,000,000 | $ 119,000,000 | $ 486,000,000 | $ 755,000,000 | ||
Equity Securities, FV-NI, Unrealized Loss | (99,000,000) | |||||
Debt Securities, Available-for-sale, Realized Gain | 200,000 | 1,000,000 | 2,000,000 | |||
Debt Securities, Available-for-sale, Realized Loss | 11,000,000 | 8,000,000 | 28,000,000 | 36,000,000 | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale | 1,500,000 | |||||
Equity Securities, FV-NI, Unrealized Gain | 272,000,000 | |||||
Debt Securities [Member] | ||||||
Decommissioning Trust Funds [Abstract] | ||||||
Deferred taxes on unrealized gains/(losses) recorded in OCI for non-regulated decommissioning trusts | 0 | 0 | ||||
Entergy Arkansas [Member] | ||||||
Decommissioning Trust Funds [Abstract] | ||||||
Amortized cost of debt securities | $ 548,900,000 | $ 548,900,000 | 539,800,000 | |||
Average coupon rate of debt securities | 2.58% | 2.58% | ||||
Average duration of debt securities, years | 5 years 9 months 10 days | |||||
Average maturity of debt securities, years | 7 years 4 months 6 days | |||||
Proceeds from the dispositions of debt securities | $ 1,800,000 | 17,200,000 | $ 18,400,000 | 33,100,000 | ||
Equity Securities, FV-NI, Unrealized Loss | (29,300,000) | |||||
Debt Securities, Available-for-sale, Realized Gain | 0 | 0 | 0 | 100,000 | ||
Debt Securities, Available-for-sale, Realized Loss | 100,000 | 2,000,000 | 1,800,000 | 2,500,000 | ||
Equity Securities, FV-NI, Unrealized Gain | 80,000,000 | |||||
Entergy Louisiana [Member] | ||||||
Decommissioning Trust Funds [Abstract] | ||||||
Amortized cost of debt securities | $ 809,900,000 | $ 809,900,000 | 789,100,000 | |||
Average coupon rate of debt securities | 3.87% | 3.87% | ||||
Average duration of debt securities, years | 6 years 8 months 19 days | |||||
Average maturity of debt securities, years | 13 years 1 month 9 days | |||||
Proceeds from the dispositions of debt securities | $ 148,100,000 | 47,600,000 | $ 280,700,000 | 288,500,000 | ||
Percentage Interest in River Bend | 30% | |||||
Equity Securities, FV-NI, Unrealized Loss | (42,300,000) | |||||
Debt Securities, Available-for-sale, Realized Gain | 0 | 200,000 | $ 500,000 | 1,300,000 | ||
Debt Securities, Available-for-sale, Realized Loss | 8,600,000 | 2,800,000 | 17,600,000 | 15,000,000 | ||
Equity Securities, FV-NI, Unrealized Gain | 117,200,000 | |||||
System Energy [Member] | ||||||
Decommissioning Trust Funds [Abstract] | ||||||
Amortized cost of debt securities | $ 522,600,000 | $ 522,600,000 | $ 522,700,000 | |||
Average coupon rate of debt securities | 3.36% | 3.36% | ||||
Average duration of debt securities, years | 6 years 1 month 24 days | |||||
Average maturity of debt securities, years | 10 years 3 months 3 days | |||||
Proceeds from the dispositions of debt securities | $ 76,200,000 | 54,600,000 | $ 187,300,000 | 158,600,000 | ||
Equity Securities, FV-NI, Unrealized Loss | (27,500,000) | |||||
Debt Securities, Available-for-sale, Realized Gain | 0 | 20,000 | 0 | 200,000 | ||
Debt Securities, Available-for-sale, Realized Loss | $ 2,700,000 | $ 3,000,000 | 9,100,000 | $ 8,300,000 | ||
Equity Securities, FV-NI, Unrealized Gain | $ 75,200,000 | |||||
Palisades [Member] | ||||||
Decommissioning Trust Funds [Abstract] | ||||||
Decommissioning Fund Investments, Fair Value | $ 552,000,000 |
Decommissioning Trust Funds (Se
Decommissioning Trust Funds (Securities Held) (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-sale [Line Items] | ||
Total | $ 1,660 | $ 1,655 |
Debt Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 222 | 201 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1 | 4 |
Total | 1,660 | 1,655 |
Entergy Arkansas [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total | 470.9 | 470.7 |
Entergy Arkansas [Member] | Debt Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 78.1 | 69.3 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0.1 | 0.2 |
Total | 470.9 | 470.7 |
Entergy Louisiana [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total | 736.8 | 725.1 |
Entergy Louisiana [Member] | Debt Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 74.5 | 67.5 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1.3 | 3.5 |
Total | 736.8 | 725.1 |
System Energy [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total | 452.8 | 459.7 |
System Energy [Member] | Debt Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 69.8 | 63.7 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0.1 | 0.7 |
Total | $ 452.8 | $ 459.7 |
Decommissioning Trust Funds (Av
Decommissioning Trust Funds (Available For Sale Securities Continuous Unrealized Loss Position Fair Value) (Details) - Debt Securities [Member] - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 585 | $ 840 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 1,010 | 666 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 1,595 | 1,506 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 30 | 63 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 192 | 138 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 222 | 201 |
Entergy Arkansas [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 68.8 | 197.6 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 391.8 | 260.1 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 460.6 | 457.7 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 4.3 | 18.8 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 73.8 | 50.5 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 78.1 | 69.3 |
Entergy Louisiana [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 339.7 | 409.9 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 354.9 | 207.5 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 694.6 | 617.4 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 14.9 | 24.6 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 59.6 | 42.9 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 74.5 | 67.5 |
System Energy [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 176.1 | 231.9 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 263 | 198 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 439.1 | 429.9 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 11 | 19.2 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 58.8 | 44.5 |
Debt Securities, Available-for-sale, Unrealized Loss Position | $ 69.8 | $ 63.7 |
Decommissioning Trust Funds (Fa
Decommissioning Trust Funds (Fair Value Of Debt Securities By Contractual Maturities) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Fair value of debt securities by contractual maturities | ||
1 year - 5 years | $ 499,000 | $ 520,000 |
5 years - 10 years | 477,000 | 461,000 |
10 years - 15 years | 108,000 | 117,000 |
15 years - 20 years | 155,000 | 161,000 |
20 years+ | 341,000 | 334,000 |
Total | 1,660,000 | 1,655,000 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 80,000 | 62,000 |
Decommissioning Fund Investments | 4,417,704 | 4,121,864 |
Entergy Arkansas [Member] | ||
Fair value of debt securities by contractual maturities | ||
1 year - 5 years | 135,800 | 159,700 |
5 years - 10 years | 189,800 | 191,700 |
10 years - 15 years | 38,900 | 38,000 |
15 years - 20 years | 42,200 | 42,600 |
20 years+ | 18,600 | 17,500 |
Total | 470,900 | 470,700 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 45,600 | 21,200 |
Decommissioning Fund Investments | 1,285,583 | 1,199,860 |
Entergy Louisiana [Member] | ||
Fair value of debt securities by contractual maturities | ||
1 year - 5 years | 164,600 | 159,100 |
5 years - 10 years | 169,200 | 161,700 |
10 years - 15 years | 64,200 | 67,100 |
15 years - 20 years | 79,400 | 83,300 |
20 years+ | 227,500 | 220,300 |
Total | 736,800 | 725,100 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 31,900 | 33,600 |
Decommissioning Fund Investments | 1,912,924 | 1,779,090 |
System Energy [Member] | ||
Fair value of debt securities by contractual maturities | ||
1 year - 5 years | 198,900 | 201,700 |
5 years - 10 years | 118,400 | 107,100 |
10 years - 15 years | 4,700 | 11,700 |
15 years - 20 years | 33,100 | 35,000 |
20 years+ | 95,000 | 97,400 |
Total | 452,800 | 459,700 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 2,700 | 6,800 |
Decommissioning Fund Investments | $ 1,219,196 | $ 1,142,914 |
Income Taxes Income Taxes (Redu
Income Taxes Income Taxes (Reduction to Regulatory Liability Due to Return of Unprotected Excess ADIT (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Jan. 01, 2024 | Apr. 01, 2023 | Dec. 31, 2022 | |
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | $ 0 | $ 16,000,000 | $ 0 | $ 50,000,000 | |||||
Regulatory Liability For Income Taxes Net | 1,223,532,000 | 1,223,532,000 | $ 1,258,276,000 | ||||||
reduction of taxable income [Abstract] | |||||||||
Increase (Decrease) in Regulatory Liabilities | 204,817,000 | (116,315,000) | |||||||
Entergy Arkansas [Member] | |||||||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 0 | 0 | |||||||
State Effective Income tax Rate, Percent | 5.30% | 5.10% | |||||||
Regulatory Liability For Income Taxes Net | 433,687,000 | 433,687,000 | 435,157,000 | ||||||
reduction of taxable income [Abstract] | |||||||||
Increase (Decrease) in Regulatory Liabilities | 14,000,000 | $ 8,000,000 | 68,475,000 | (305,972,000) | |||||
Entergy Arkansas [Member] | Subsequent Event [Member] | |||||||||
State Effective Income tax Rate, Percent | 4.80% | ||||||||
Entergy Louisiana [Member] | |||||||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 0 | 6,000,000 | 0 | 25,000,000 | |||||
Regulatory charge recorded as a result of reduction in income tax expense | $ 103,000,000 | ||||||||
Regulatory charge recorded as a result of reduction in income tax expense, net of tax | 76,000,000 | ||||||||
Reduction to income tax expense - net of provision for uncertain tax positions | 133,000,000 | ||||||||
Reduction to income tax expense - net, offset by other tax charges | $ 129,000,000 | ||||||||
Regulatory Liability For Income Taxes Net | 323,956,000 | 323,956,000 | 337,836,000 | ||||||
reduction of taxable income [Abstract] | |||||||||
Increase (Decrease) in Regulatory Liabilities | 200,267,000 | (92,554,000) | |||||||
Entergy Mississippi [Member] | |||||||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 0 | 0 | |||||||
Regulatory Liability For Income Taxes Net | 193,812,000 | 193,812,000 | 202,058,000 | ||||||
reduction of taxable income [Abstract] | |||||||||
Increase (Decrease) in Regulatory Liabilities | (52,712,000) | 31,682,000 | |||||||
Entergy New Orleans [Member] | |||||||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 0 | 0 | 1,000,000 | ||||||
Regulatory Liability For Income Taxes Net | 42,028,000 | 42,028,000 | 39,738,000 | ||||||
reduction of taxable income [Abstract] | |||||||||
Increase (Decrease) in Regulatory Liabilities | 17,878,000 | (8,921,000) | |||||||
Entergy Texas [Member] | |||||||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 0 | $ 10,000,000 | 0 | 24,000,000 | |||||
Regulatory Liability For Income Taxes Net | 121,472,000 | 121,472,000 | 132,647,000 | ||||||
reduction of taxable income [Abstract] | |||||||||
Increase (Decrease) in Regulatory Liabilities | (13,111,000) | (23,014,000) | |||||||
System Energy [Member] | |||||||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 0 | 0 | |||||||
Regulatory Liability For Income Taxes Net | $ 108,577,000 | 108,577,000 | $ 110,840,000 | ||||||
reduction of taxable income [Abstract] | |||||||||
Increase (Decrease) in Regulatory Liabilities | $ (15,981,000) | $ 282,463,000 |
Property, Plant, And Equipment
Property, Plant, And Equipment (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Supplemental non cash investing activity [Abstract] | ||
Capital Expenditures Incurred but Not yet Paid | $ 447 | $ 462 |
Entergy Arkansas [Member] | ||
Supplemental non cash investing activity [Abstract] | ||
Capital Expenditures Incurred but Not yet Paid | 62 | 93.2 |
Entergy Louisiana [Member] | ||
Supplemental non cash investing activity [Abstract] | ||
Capital Expenditures Incurred but Not yet Paid | 111.3 | 156.7 |
Entergy Mississippi [Member] | ||
Supplemental non cash investing activity [Abstract] | ||
Capital Expenditures Incurred but Not yet Paid | 31.2 | 59.5 |
Entergy New Orleans [Member] | ||
Supplemental non cash investing activity [Abstract] | ||
Capital Expenditures Incurred but Not yet Paid | 4.7 | 11.2 |
Entergy Texas [Member] | ||
Supplemental non cash investing activity [Abstract] | ||
Capital Expenditures Incurred but Not yet Paid | 178.7 | 68.9 |
System Energy [Member] | ||
Supplemental non cash investing activity [Abstract] | ||
Capital Expenditures Incurred but Not yet Paid | $ 16.7 | $ 29 |
Variable Interest Entities (Nar
Variable Interest Entities (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | |
Variable Interest Entity [Line Items] | ||||
Assets | $ 60,552,147 | $ 58,595,191 | ||
Entergy New Orleans [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Assets | 2,232,256 | 2,212,401 | ||
Entergy Louisiana [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Assets | 29,991,991 | 28,144,555 | ||
Members' Equity Attributable to Noncontrolling Interest | $ 47,214 | 31,735 | ||
Entergy Louisiana [Member] | Restoration Law Trust II (storm trust II) [Member] | ||||
Variable Interest Entity [Line Items] | ||||
LURC's beneficial interest in the storm trust, percentage | 1% | |||
Entergy Louisiana [Member] | Restoration Law Trust I | ||||
Variable Interest Entity [Line Items] | ||||
LURC's beneficial interest in the storm trust, percentage | 1% | |||
Entergy Louisiana [Member] | Restoration Law Trust II | ||||
Variable Interest Entity [Line Items] | ||||
LURC's beneficial interest in the storm trust, percentage | 1% | |||
Entergy Louisiana [Member] | Entergy Finance Company [Member] | Restoration Law Trust II (storm trust II) [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Members' Equity Attributable to Noncontrolling Interest | $ 14,600 | |||
Entergy Louisiana [Member] | Entergy Finance Company [Member] | Restoration Law Trust I | ||||
Variable Interest Entity [Line Items] | ||||
Redeemable Noncontrolling Interest, Equity, Preferred, Fair Value | $ 3,000,000 | 3,200,000 | ||
Members' Equity Attributable to Noncontrolling Interest | 32,100 | 31,700 | ||
Entergy Louisiana [Member] | Entergy Finance Company [Member] | Restoration Law Trust II | ||||
Variable Interest Entity [Line Items] | ||||
Redeemable Noncontrolling Interest, Equity, Preferred, Fair Value | 1,500,000 | |||
Members' Equity Attributable to Noncontrolling Interest | 15,100 | |||
System Energy [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Assets | $ 4,260,532 | 4,214,146 | ||
System Energy [Member] | Grand Gulf [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 11.50% | |||
Payments on lease, including interest | $ 17,200 | $ 17,200 | ||
Entergy Arkansas [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Assets | 13,521,580 | 13,006,576 | ||
Members' Equity Attributable to Noncontrolling Interest | 23,675 | 27,825 | ||
Entergy Arkansas [Member] | AR Searcy Partnership, LLC | ||||
Variable Interest Entity [Line Items] | ||||
Assets | 135,400 | 138,300 | ||
Ownership Interest in Partnership, Carrying Value | 110,600 | 109,000 | ||
Entergy Mississippi [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Assets | 6,236,550 | 6,078,764 | ||
Entergy Mississippi [Member] | MS Sunflower Partnership, LLC | ||||
Variable Interest Entity [Line Items] | ||||
Assets | 164,000 | 154,500 | ||
Ownership Interest in Partnership, Carrying Value | $ 127,200 | $ 117,200 |
Revenue Recognition (Disaggrega
Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,595,522 | $ 4,218,615 | $ 9,422,607 | $ 10,491,737 |
Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 831,659 | 864,502 | 2,030,755 | 2,120,397 |
Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,434,867 | 2,020,798 | 3,985,687 | 4,802,555 |
Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 538,815 | 459,132 | 1,396,373 | 1,213,620 |
Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 254,316 | 291,663 | 651,152 | 744,184 |
Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 616,595 | 659,556 | 1,588,531 | 1,696,629 |
Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,526,935 | 4,110,058 | 9,195,588 | 10,024,089 |
Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 831,659 | 864,502 | 2,030,755 | 2,120,397 |
Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,421,598 | 2,003,009 | 3,933,259 | 4,738,188 |
Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 538,815 | 459,132 | 1,396,373 | 1,213,620 |
Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 235,280 | 262,904 | 573,191 | 641,634 |
Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 616,595 | 659,556 | 1,588,531 | 1,696,629 |
Natural Gas, US Regulated [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 32,305 | 46,548 | 130,389 | 166,917 |
Natural Gas, US Regulated [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Natural Gas, US Regulated [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 13,269 | 17,789 | 52,428 | 64,367 |
Natural Gas, US Regulated [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Natural Gas, US Regulated [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 19,036 | 28,759 | 77,961 | 102,550 |
Natural Gas, US Regulated [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Competitive Businesses [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 36,282 | 62,009 | 96,630 | 300,731 |
Residential [Member] | Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,602,496 | 1,570,940 | 3,595,378 | 3,592,025 |
Residential [Member] | Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 346,454 | 323,767 | 790,760 | 750,762 |
Residential [Member] | Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 547,485 | 618,056 | 1,242,378 | 1,372,538 |
Residential [Member] | Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 257,241 | 206,708 | 589,630 | 503,351 |
Residential [Member] | Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 120,311 | 116,968 | 252,412 | 256,110 |
Residential [Member] | Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 331,005 | 305,441 | 720,198 | 709,264 |
Commercial [Member] | Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 884,585 | 940,604 | 2,291,673 | 2,290,893 |
Commercial [Member] | Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 183,352 | 165,609 | 445,279 | 406,078 |
Commercial [Member] | Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 313,112 | 402,027 | 844,655 | 949,680 |
Commercial [Member] | Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 184,164 | 150,137 | 460,836 | 379,075 |
Commercial [Member] | Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 69,927 | 75,083 | 180,091 | 179,456 |
Commercial [Member] | Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 134,030 | 147,748 | 360,812 | 376,604 |
Industrial [Member] | Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 797,982 | 1,109,245 | 2,411,882 | 2,731,075 |
Industrial [Member] | Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 194,284 | 175,304 | 479,337 | 420,788 |
Industrial [Member] | Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 393,172 | 693,445 | 1,310,121 | 1,681,628 |
Industrial [Member] | Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 58,253 | 50,931 | 164,406 | 133,826 |
Industrial [Member] | Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 9,163 | 10,973 | 24,138 | 26,462 |
Industrial [Member] | Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 143,110 | 178,592 | 433,880 | 468,371 |
Governmental [Member] | Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 73,846 | 84,649 | 204,999 | 209,044 |
Governmental [Member] | Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 5,895 | 6,104 | 15,500 | 15,702 |
Governmental [Member] | Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 20,936 | 28,022 | 63,417 | 68,880 |
Governmental [Member] | Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17,226 | 14,837 | 46,080 | 39,449 |
Governmental [Member] | Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 22,358 | 27,406 | 58,052 | 62,617 |
Governmental [Member] | Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 7,431 | 8,280 | 21,950 | 22,396 |
Billed Retail [Member] | Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,358,909 | 3,705,438 | 8,503,932 | 8,823,037 |
Billed Retail [Member] | Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 729,985 | 670,784 | 1,730,876 | 1,593,330 |
Billed Retail [Member] | Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,274,705 | 1,741,550 | 3,460,571 | 4,072,726 |
Billed Retail [Member] | Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 516,884 | 422,613 | 1,260,952 | 1,055,701 |
Billed Retail [Member] | Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 221,759 | 230,430 | 514,693 | 524,645 |
Billed Retail [Member] | Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 615,576 | 640,061 | 1,536,840 | 1,576,635 |
Sales for Resale [Member] | Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 86,505 | 311,479 | 262,714 | 689,473 |
Sales for Resale [Member] | Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 73,081 | 157,008 | 187,365 | 384,175 |
Sales for Resale [Member] | Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 95,257 | 191,664 | 258,741 | 422,596 |
Sales for Resale [Member] | Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17,403 | 56,162 | 82,219 | 121,328 |
Sales for Resale [Member] | Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 13,007 | 33,158 | 48,992 | 96,523 |
Sales for Resale [Member] | Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,426 | 9,149 | 7,857 | 44,927 |
Non-Customer [Member] | Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 15,310 | 9,462 | 70,942 | 90,869 |
Non-Customer [Member] | Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,671 | 1,232 | 7,068 | 6,022 |
Non-Customer [Member] | Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 8,542 | 8,246 | 52,914 | 57,461 |
Non-Customer [Member] | Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,442 | 2,354 | 7,276 | 6,926 |
Non-Customer [Member] | Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,988 | 216 | 4,895 | 2,530 |
Non-Customer [Member] | Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | (333) | (549) | (1,177) | 20,193 |
Other Electric [Member] | Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 66,211 | 83,679 | 358,000 | 420,710 |
Other Electric [Member] | Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 25,922 | 35,478 | 105,446 | 136,870 |
Other Electric [Member] | Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 43,094 | 61,549 | 161,033 | 185,405 |
Other Electric [Member] | Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,086 | (21,997) | 45,926 | 29,665 |
Other Electric [Member] | Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | (1,474) | (900) | 4,611 | 17,936 |
Other Electric [Member] | Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | (2,074) | 10,895 | 45,011 | 54,874 |
Revenues from customers [Member] | Electricity [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,511,625 | 4,100,596 | 9,124,646 | 9,933,220 |
Revenues from customers [Member] | Electricity [Member] | Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 828,988 | 863,270 | 2,023,687 | 2,114,375 |
Revenues from customers [Member] | Electricity [Member] | Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,413,056 | 1,994,763 | 3,880,345 | 4,680,727 |
Revenues from customers [Member] | Electricity [Member] | Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 536,373 | 456,778 | 1,389,097 | 1,206,694 |
Revenues from customers [Member] | Electricity [Member] | Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 233,292 | 262,688 | 568,296 | 639,104 |
Revenues from customers [Member] | Electricity [Member] | Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 616,928 | 660,105 | 1,589,708 | 1,676,436 |
Competitive Business Sales [Member] | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 36,282 | $ 62,009 | $ 96,630 | $ 300,731 |
Revenue Recognition (Allowance
Revenue Recognition (Allowance for Doubtful Accounts) (Details) - USD ($) $ in Millions | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Allowance for Doubtful Other Receivables, Current | $ 27.8 | $ 30.7 | $ 30.9 | $ 68.6 |
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 29.3 | 28.8 | ||
Accounts Receivable, Allowance for Credit Loss, Writeoff | (64.9) | (95.1) | ||
Accounts Receivable, Allowance for Credit Loss, Recovery | 32.5 | 28.4 | ||
COVID-19 Pandemic [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | (6.4) | |||
Entergy Arkansas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Allowance for Doubtful Other Receivables, Current | 5.6 | 6.3 | 6.5 | 13.1 |
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 5.4 | 12.1 | ||
Accounts Receivable, Allowance for Credit Loss, Writeoff | (16.5) | (27.3) | ||
Accounts Receivable, Allowance for Credit Loss, Recovery | 10.2 | 8.4 | ||
Entergy Arkansas [Member] | COVID-19 Pandemic [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 6.4 | |||
Entergy Louisiana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Allowance for Doubtful Other Receivables, Current | 7.6 | 9.9 | 7.6 | 29.2 |
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 12.2 | 8.3 | ||
Accounts Receivable, Allowance for Credit Loss, Writeoff | (25.9) | (38.1) | ||
Accounts Receivable, Allowance for Credit Loss, Recovery | 13.7 | 10.5 | ||
Entergy Louisiana [Member] | COVID-19 Pandemic [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | (8.5) | |||
Entergy Mississippi [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Allowance for Doubtful Other Receivables, Current | 3 | 2.1 | 2.5 | 7.2 |
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 3.8 | 1.5 | ||
Accounts Receivable, Allowance for Credit Loss, Writeoff | (5.7) | (9.8) | ||
Accounts Receivable, Allowance for Credit Loss, Recovery | 2.4 | 3.2 | ||
Entergy New Orleans [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Allowance for Doubtful Other Receivables, Current | 9.2 | 9.4 | 11.9 | 13.3 |
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 3.6 | 4 | ||
Accounts Receivable, Allowance for Credit Loss, Writeoff | (8.6) | (11.7) | ||
Accounts Receivable, Allowance for Credit Loss, Recovery | 2.3 | 3.8 | ||
Entergy New Orleans [Member] | COVID-19 Pandemic [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | (3) | |||
Entergy Texas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Allowance for Doubtful Other Receivables, Current | 2.4 | 3 | $ 2.4 | $ 5.8 |
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 4.3 | 2.9 | ||
Accounts Receivable, Allowance for Credit Loss, Writeoff | (8.2) | (8.2) | ||
Accounts Receivable, Allowance for Credit Loss, Recovery | $ 3.9 | 2.5 | ||
Entergy Texas [Member] | COVID-19 Pandemic [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | $ (1.3) |
Asset Retirement Obligations (D
Asset Retirement Obligations (Details) $ in Millions | 3 Months Ended |
Sep. 30, 2023 USD ($) | |
Entergy Louisiana [Member] | River Bend [Member] | |
Asset Retirement Obligation, Revision of Estimate | $ 10.8 |
Uncategorized Items - etr-20230
Label | Element | Value |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | $ 442,559,000 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 224,164,000 |
Entergy Louisiana [Member] | ||
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 18,573,000 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 56,613,000 |
Entergy Arkansas [Member] | ||
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 12,915,000 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 5,278,000 |
Entergy Texas [Member] | ||
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 28,000 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 3,497,000 |
Entergy New Orleans [Member] | ||
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 42,862,000 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 4,464,000 |
System Energy [Member] | ||
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 89,201,000 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 2,940,000 |
Entergy Mississippi [Member] | ||
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 47,627,000 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | $ 16,979,000 |