SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 [FEE REQUIRED]
For the Fiscal Year Ended December 31, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
Commission File Number 2-62223
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
(Full title of the plan)
ENTERGY CORPORATION
639 Loyola
New Orleans, Louisiana 70113
(Issuer and address of principal executive office)
Table of Contents
Page
Number
Herein
------
(a)Financial Statements and Supplemental Schedules:
Report of Independent Accountants 3
Statement of Net Assets Available for Benefits
With Fund Information as of December 31, 1995 4
Statement of Net Assets Available for Benefits
With Fund Information as of December 31, 1994 5
Statement of Changes in Net Assets Available for
Benefits With Fund Information-for the Year
ended December 31, 1995 6
Statement of Changes in Net Assets Available for
Benefits With Fund Information-for the Year Ended
December 31, 1994 7
Notes to Financial Statements 8
(b)Supplemental Schedules:
Item 27a - Schedule of Assets Held for Investment
Purposes - as of December 31, 1995 15
Item 27d - Schedule of Reportable Transactions -
for the Year Ended December 31, 1995 32
Signature 33
(c)Exhibit:
Consent of Coopers & Lybrand L.L.P. 34
Report of Independent Accountants
----------------------------------
To the Trustee and Participants of the Savings Plan of
Entergy Corporation and Subsidiaries
We have audited the accompanying statements of net assets available for
benefits of the Savings Plan of Entergy Corporation and Subsidiaries
(the Plan) as of December 31, 1995 and 1994, and the related statements
of changes in net assets available for benefits for the years then
ended. These financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these
financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for benefits
of the Plan as of December 31, 1995 and 1994, and the changes in net
assets available for benefits for the years ended December 31, 1995 and
1994, in conformity with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental
schedules listed in the Table of Contents on page 2 are presented for
the purpose of additional analysis and are not a required part of the
basic financial statements but are supplementary information required
by the Department of Labor's Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income Security Act of 1974.
The Fund Information in the statements of net assets available for
benefits and the statements of changes in net assets available for
benefits is presented for purposes of additional analysis rather than
to present the net assets available for plan benefits and changes in
net assets available for plan benefits of each fund. The supplemental
schedules and Fund Information have been subjected to the auditing
procedures applied in the audits of the basic financial statements and,
in our opinion, are fairly stated in all material respects in relation
to the basic financial statements taken as a whole.
New Orleans, Louisiana
June 19, 1996
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Statement of Net Assets Available for Benefits with Fund Information
As of December 31, 1995
FUND INFORMATION
-----------------------------------------------------------------------------------------------
Entergy Stable Stock Stock Stock
Corporation Income Balanced Income Index Growth Acorn Loan
Total Stock Fund Fund Fund Fund Fund Fund Fund Fund
------------ ------------ ----------- ---------- ---------- ----------- ---------- ---------- ----------
Assets:
Investments:
Cash and
temporary
cash
investments $6,429,766 $51,086 $784,564 $1,106,560 $712,513 $995,169 $2,220,671 $473,003 $86,200
Equity
securities:
Entergy
Corporation
common stock
- 10,547,333
shares 308,509,490 308,509,490 - - - - - - -
Other equity
securities 163,737,591 - - 9,543,150 73,200,510 17,931,737 33,460,570 29,601,624 -
Fixed income
securities:
U.S. Treasury
and government
agency
securities 28,362,832 - 22,391,156 5,971,676 - - - - -
Guaranteed
investment
contracts 20,754,164 - 20,754,164 - - - - - -
Synthetic
investment
contracts 110,425,335 - 110,425,335 - - - - - -
IDS Trust Fund 13,231,811 - 13,231,811
Other
corporate
securities 119,284,000 - 116,074,427 3,209,573 - - - - -
Loans to
participants 10,725,071 - - - - - - - 10,725,071
------------ ------------ ----------- ----------- ----------- ------------ ----------- ----------- ----------
Total
investments 781,460,060 308,560,576 283,661,457 19,830,959 73,913,023 18,926,906 35,681,241 30,074,627 10,811,271
Contributions
receivable 5,143,206 1,681,857 1,580,490 218,591 588,600 280,009 541,784 251,875 -
Other
receivables 6,311,124 227,874 2,249,095 1,072,057 619,735 879,383 1,189,124 73,856 -
------------ ------------ ----------- ----------- ----------- ------------ ----------- ------------ -----------
Total assets 792,914,390 310,470,307 287,491,042 21,121,607 75,121,358 20,086,298 37,412,149 30,400,358 10,811,271
------------ ------------ ----------- ----------- ----------- ------------ ----------- ------------ ------------
Liabilities:
Other
liabilities 3,948,043 1,136,876 1,958,016 32,884 635,496 8,445 111,792 64,534 -
------------ ------------ ----------- ----------- ----------- ------------ ----------- ------------ ------------
Net assets
available for
benefits $788,966,347 $309,333,431 $285,533,026 $21,088,723 $74,485,862 $20,077,853 $37,300,357 $30,335,824 $10,811,271
============ ============ ============ =========== =========== =========== =========== ============ ============
See Notes to Financial Statements.
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Statement of Net Assets Available for Benefits with Fund Information
As of December 31, 1994
FUND INFORMATION
---------------------------------------------------------------------------
Entergy Stable Stock Stock Stock
Corporation Income Balanced Income Index Growth Loan
Total Stock Fund Fund Fund Fund Fund Fund Fund
------------ ----------- ----------- ----------- ----------- ----------- ----------- ------------
Assets:
Investments:
Cash and
temporary cash
investments $8,493,005 $28,660 $4,194,700 $183,999 $2,856,317 $986,386 $242,943 $ -
Equity
securities:
Entergy
Corporation
common stock -
9,726,021
shares 212,756,709 212,756,709 - - - - - -
Other equity
securities 66,817,046 - - 2,915,602 48,590,751 5,341,325 9,969,368 -
Fixed income
securities:
U.S. Treasury
and government
agency
securities 40,441,683 - 37,166,639 3,275,044 - - - -
Guaranteed
investment
contracts 69,787,323 - 69,787,323 - - - - -
Other
corporate
securities 137,907,363 - 137,622,974 284,389 - - - -
Loans to
participants 11,990,115 - - - - - - 11,990,115
------------ ------------ ------------ ----------- ----------- ----------- ----------- ------------
Total
investments 548,193,244 212,785,369 248,771,636 6,659,034 51,447,068 6,327,711 10,212,311 11,990,115
Contributions
receivable 4,622,241 1,639,239 1,875,202 122,478 595,378 145,670 244,274 -
Other
receivables 4,197,850 67,834 2,423,979 139,024 928,963 184,524 453,526 -
------------ ------------ ------------ ----------- ---------- ----------- ----------- ------------
Total assets 557,013,335 214,492,442 253,070,817 6,920,536 52,971,409 6,657,905 10,910,111 11,990,115
Liabilities:
Other
liabilities 2,295,794 171,805 870,692 167,044 903,989 19,543 162,721 -
------------ ------------ ------------ ----------- ---------- ----------- ----------- ------------
Net assets
available for
benefits $554,717,541 $214,320,637 $252,200,125 $6,753,492 $52,067,420 $6,638,362 $10,747,390 $11,990,115
============ ============ ============ ========== =========== ============ ============ ===========
See Notes to Financial Statements.
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Statement of Changes in Net Assets Available for Benefits with Fund Information
For the Year ended December 31, 1995
FUND INFORMATION
------------------------------------------------------------------------------------------------
Entergy Stable Stock Stock Stock
Corporation Income Balanced Income Index Growth Acorn Loan
Total Stock Fund Fund Fund Fund Fund Fund Fund Fund
------------ ------------ ----------- ----------- ----------- ----------- ----------- ----------- ----------
Net assets
available for
benefits -
Beginning of
year $554,717,541 $214,320,637 $252,200,125 $6,753,492 $52,067,420 $6,638,362 $10,747,390 $ - $11,990,115
Increases:
Investment
income:
Dividends 22,477,614 18,566,757 - 248,338 2,311,637 - 1,181,392 169,490 -
Interest 21,669,774 76,124 19,508,687 344,860 157,733 271,333 50,559 9,703 1,250,775
Net realized
and unrealized
appreciation
of investments 114,306,526 78,385,291 6,416,427 2,234,968 16,616,198 2,815,224 4,426,938 3,411,480 -
------------ ------------ ----------- ----------- ----------- ----------- ------------ ----------- ----------
Total
investment
income 158,453,914 97,028,172 25,925,114 2,828,166 19,085,568 3,086,557 5,658,889 3,590,673 1,250,775
------------ ------------ ----------- ----------- ----------- ----------- ------------ ----------- -----------
Employee
contributions 39,414,479 4,441,810 18,269,972 1,763,837 6,209,455 2,239,489 4,169,804 2,320,112 -
Employer
contributions
- net
of forfeitures 13,179,747 13,179,747 - - - - - - -
------------ ----------- ----------- ----------- ----------- ----------- ------------ ----------- -----------
Total
increases 211,048,140 114,649,729 44,195,086 4,592,003 25,295,023 5,326,046 9,828,693 5,910,785 1,250,775
------------ ----------- ----------- ---------- ----------- ----------- ----------- ----------- -----------
Decreases:
Distributions
to withdrawing
participants 88,444,936 28,384,185 45,113,216 1,099,500 6,791,136 730,517 1,233,381 3,374,765 1,718,236
------------ ------------ ----------- ---------- ----------- ----------- ----------- ------------ ------------
Total
decreases 88,444,936 28,384,185 45,113,216 1,099,500 6,791,136 730,517 1,233,381 3,374,765 1,718,236
------------ ------------ ----------- ---------- ----------- ----------- ----------- ------------ -----------
Net increase
(decrease)
before
transfers 122,603,204 86,265,544 (918,130) 3,492,503 18,503,887 4,595,529 8,595,312 2,536,020 (467,461)
Net transfers
from
affiliated
plans 111,645,602 18,618,462 53,735,948 4,871,522 5,427,232 1,956,407 4,699,348 22,336,683 -
Net transfers
between the
funds - (9,871,212) (19,484,917) 5,971,206 (1,512,677) 6,887,555 13,258,307 5,463,121 (711,383)
------------ ------------ ------------ ----------- ----------- ----------- ---------- ----------- -----------
Net increase
(decrease) 234,248,806 95,012,794 33,332,901 14,335,231 22,418,442 13,439,491 26,552,967 30,335,824 (1,178,844)
------------ ------------ ------------ ----------- ----------- ----------- ---------- ----------- -----------
Net assets
available for
benefits -
End of year $788,966,347 $309,333,431 $285,533,026 $21,088,723 $74,485,862 $20,077,853 $37,300,357 $30,335,824 $10,811,271
============ ============ ============ =========== ============ =========== =========== ============ ===========
See Notes to Financial Statements.
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Statement of Changes in Net Assets Available for Benefits with Fund Information
For the Year ended December 31, 1994
FUND INFORMATION
---------------------------------------------------------------------------------------
Entergy Stable Stock Stock Stock
Corporation Income Balanced Income Index Growth Loan
Total Stock Fund Fund Fund Fund Fund Fund Fund
------------ ------------ ----------- ---------- ----------- ----------- ----------- ------------
Net assets
available for
benefits -
Beginning of
year $641,639,819 $315,252,872 $263,828,643 $ - $51,368,028 $ - $ - $11,190,276
Increases:
Investment
income:
Dividends 18,548,915 16,280,659 - 121,963 2,146,293 - - -
Interest 12,838,734 35,855 11,697,791 80,890 73,544 108,420 57,568 784,666
Net realized
and unrealized
appreciation
(depreciation)
of investments (131,791,650)(127,399,662) (2,541,662) (197,999) (1,973,996) 63,034 258,635 -
------------ ------------ ---------- ---------- ----------- ----------- ----------- ------------
Total
investment
income (loss) (100,404,001)(111,083,148) 9,156,129 4,854 245,841 171,454 316,203 784,666
------------ ----------- ---------- ---------- ----------- ----------- ----------- ------------
Employee
contributions 35,094,032 4,842,940 19,970,676 893,709 6,587,812 1,091,517 1,707,378 -
Employer
contributions
- net
of forfeiture 11,687,558 11,687,558 - - - - - -
------------ ----------- ----------- ---------- ----------- ----------- ----------- ------------
Total
increases
(decreases) (53,622,411) (94,552,650) 29,126,805 898,563 6,833,653 1,262,971 2,023,581 784,666
Decreases:
Distributions
to withdrawing
participants 33,299,867 10,972,842 19,264,072 205,586 2,423,764 71,784 98,001 263,818
------------ ----------- ----------- ---------- ----------- ----------- ----------- ------------
Total
decreases 33,299,867 10,972,842 19,264,072 205,586 2,423,764 71,784 98,001 263,818
------------ ----------- ----------- ---------- ----------- ----------- ----------- ------------
Net increase
(decrease) (86,922,278) (105,525,492) 9,862,733 692,977 4,409,889 1,191,187 1,925,580 520,848
Net transfers
between the
funds - 4,593,257 (21,491,251) 6,060,515 (3,710,497) 5,447,175 8,821,810 278,991
------------ ----------- ----------- ---------- ----------- ----------- ----------- -----------
Net assets
available for
benefits -
End of year $554,717,541 $214,320,637 $252,200,125 $6,753,492 $52,067,420 $6,638,362 $10,747,390 $11,990,115
============ ============ ============ ========== =========== =========== =========== ===========
See Notes to Financial Statements.
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Notes to Financial Statements
1. Summary of Significant Accounting Policies
------------------------------------------
Basis of presentation: The accompanying financial statements have
been prepared on the accrual basis of accounting and present the
Statement of Net Assets Available for Benefits with fund
information and the Statement of Changes in Net Assets Available
for Benefits with fund information for the Savings Plan of Entergy
Corporation and Subsidiaries (Plan).
Benefits payable for terminations and withdrawals are included in
net assets available for benefits and are charged to net assets
when paid. This accounting method differs from that required in
the Department of Labor Form 5500 which requires benefits payable
to be accrued and charged to net assets in the period the liability
arises. Net assets available for benefits as of December 31, 1995
and 1994 and the net increase in net assets available for benefits
for each of the years differ from that reported in the Form 5500 as
follows:
Net Assets Available
for Benefits
---------------------------------
1995 1994
-------------- --------------
As reported herein $788,966,347 $554,717,541
Accrued benefits payable (982,271) (2,696,186)
-------------- --------------
To be reported in Form 5500 $787,984,076 $552,021,355
============== ==============
Net Increase(Decrease) in
Net Assets Available for Benefits
---------------------------------
1995 1994
-------------- --------------
As reported herein $234,248,806 $(86,922,278)
Accrued benefits payable 1,713,915 2,123,886
-------------- --------------
To be reported in Form 5500 $235,962,721 $(84,798,392)
============== ==============
Interest and Dividend Income: Interest income is recorded on the
accrual basis. Dividends are recorded on the ex-dividend date.
Investments: Cash equivalents are valued at cost, which
approximates fair value. Investments in equity and fixed income
securities are stated at their fair value as determined by quoted
market prices on the valuation date, in compliance with the
Department of Labor Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income Security Act of
1974 (ERISA), as amended.
The values of guaranteed investment contracts (GICs) are recorded
at contract value, which approximates fair value. Contract value
represents amounts invested under the GICs, plus interest earned
and reinvested through the valuation date at the contracted rate.
The values of synthetic investment contracts (SICs) are recorded at
contract value, which approximates fair market value, because
participants are guaranteed a return of principal and accrued
interest. SICs are similar to a GIC except the assets of a SIC are
placed in a trust with ownership by the plan, and a financially
responsible third party issues a wrapper contract guaranteeing a
stated rate of return. The fair value of the SIC assets in trust at
December 31, 1995 was $113,122,000. Listed below are the GICs
and SICs as of December 31, 1995:
Guaranteed investment contracts
Contract
Interest Rate Value
ENTERGY STABLE INCOME FUND: ------------- ------------
The Principal Financial Group 7.50% 6,854,192
Provident Life & Accident Ins. 5.53% 3,845,991
State Mutual Life Assur. 5.42% 3,844,237
Continental Assurance Company 5.72% 3,971,735
Provident National Assur. Co. 9.02% 2,238,009
------------
Total guaranteed investment contracts $ 20,754,164
============
Synthetic investment contracts
Contract
Interest Rate Value
ENTERGY STABLE INCOME FUND: ------------- -------------
Commonwealth Life 6.47% 36,826,757
Rabobank Nederland 6.15% 36,778,916
Transamerica Life 6.41% 36,819,662
-------------
Total synthetic investment contracts $ 110,425,335
=============
The carrying value of loans to participants approximates fair
value.
Expenses: All costs and expenses of administering the Plan, except
expenses incurred in the direct acquisition or disposition of stock
and investment manager fees, are paid first by forfeitures of the
Plan and then by Entergy Corporation.
Purchases and sales of securities are accounted for on the trade
date.
Tax status: The Internal Revenue Service issued a favorable
determination letter on May 23, 1995 stating that the Plan
qualifies under the provisions of Section 401(a) of the Internal
Revenue Code (Code) and is exempt from federal income taxes under
Section 501(a) of the Code. Accordingly, no provisions for federal
income taxes have been made in the accompanying financial
statements.
Use of estimates in the preparation of financial statements: The
preparation of the Plan financial statements, in conformity with
generally accepted accounting principles, requires management to
make estimates and assumptions that affect reported amounts on the
Statement of Net Assets Available for Benefits as of December 31,
1995 and 1994, and the reported amounts on the Statement of Changes
in Net Assets Available for Benefits during fiscal years 1995 and
1994. Adjustments to the reported amount may be necessary in the
future to the extent that future estimates or actual results are
different from the estimates used in 1995 Plan financial statements.
Concentration of credit risk: Periodically, the plan invests in
certificates of deposit with a small number of banks. For deposit
insurance purposes, the certificates of deposit are considered to
be owned by each participant and insured up to $100,000 per
participant. However, the insurance coverage of $100,000 per
participant will be available only if the bank issuing the
certificate of deposit is eligible to accept "brokered deposits"
under the FDIC Improvement Act of 1991.
The Plan invests in government notes and securities which include
direct obligations of the United States Government (U.S.), or
obligations of agencies or instrumentalities thereof, which are
backed by the full faith and credit of the U.S.
The Plan invests in GICs and SICs which are subject to credit risk
with respect to the insurance companies.
2. Summary of Plan Provisions
--------------------------
The following description of the Plan is provided for general
information purposes only. Plan participants should refer to the
Plan document for a more complete description of the Plan's
provisions.
General: The Plan is a defined contribution plan of Entergy
Corporation and Subsidiaries subject to the provisions of ERISA.
The ERISA provisions set forth the requirements for participation,
vesting of benefits, fiduciary conduct for administering and
handling Plan assets, and for disclosure of Plan information.
Eligibility: At December 31, 1995 the Plan was available to all
employees of Entergy Corporation and its subsidiary companies
(System) who satisfy a six month System service requirement. All
current collective bargaining units except for active River Bend
Steam Electric Generating Station (River Bend) bargaining employees
of Entergy Operations, Inc. as of October 1, 1995 participate in
the Plan.
Contributions: Contributions made by or on behalf of participants
are deposited with Hibernia National Bank in New Orleans as Trustee
for the Plan. Participants may elect to contribute, through
payroll deductions, one to six percent of their base salary
(basic). The employing System company will make matching
contributions to the Plan in an amount equal to fifty percent of a
participant's basic contribution (matching). Participants may
contribute an additional one to ten percent of their base salary
(supplemental) for which there are no matching contributions.
Basic and supplemental contributions may be made on a before-tax
basis (401(k) contributions), an after-tax basis, or a combination
of both. Contributions are monitored and limited by federal tax
legislation. The limit for the 1995 401(k) contribution was
$9,240.
The Plan provides that certain taxable amounts received by an
employee which originated from an employee benefit plan qualified
under Section 401(a) of the Code may be accepted under the Plan as
rollover contributions (Rollover). Prior to January 1, 1987, the
Plan accepted tax-deductible (IRA-type) contributions as System
Individual Retirement Account (SIRA) contributions and continues to
maintain such accounts under the Plan until distribution.
Investments: Matching contributions made on behalf of participants
are invested by the Trustee in the Entergy Corporation Stock Fund.
Participant contributions are invested as directed by participants
in accordance with the Plan's investment options. Earnings on
participant contributions are allocated based on participants'
account balances as of the first day of each month.
On July 6, 1994, the Board amended the Plan, effective January 1,
1995, by adding the Acorn Fund as a new investment option.
Upon enrollment in the Plan, a participant may direct contributions
to any of the following seven investment options:
Stable Income Fund - Funds are invested in high-quality,
fixed-income securities managed by Standish, Ayer &
Wood. In addition, the Fund invests in various
investments which include a stable value portfolio
managed by T. Rowe Price and investment contracts with
insurance companies offering a specified annual interest
rate over a stated period of time. Investments in the
T. Rowe Price stable value fund include SICs, as well as
high quality GICs. SICs are similar to GICs in that
they can be issued by banks and insurance companies and
provide a stable asset value and book value of payments
upon certain events.
Balanced Fund - Funds are invested in a mix of common
stocks that are similar to the Standard & Poor's 500 and
fixed-income securities.
Stock Income Fund - Funds are invested in the common
stocks of large, well-established companies whose
dividends are higher than the average dividends of
companies that make up the Standard & Poor's 500.
Stock Index Fund - Funds are invested in a portfolio of
common stocks intended to reflect the U.S. stock market.
The portfolio seeks to match the Wilshire 5000 Index, an
index of all regularly and publicly traded U.S. stocks.
Stock Growth Fund - Funds are invested in the common
stocks of large, well-established companies with
favorable growth potential.
Acorn Fund - The funds are invested in common stocks of
small and medium sized companies, including
international companies.
Entergy Corporation Stock Fund - Funds are invested in
common stock of Entergy Corporation.
As of December 31, 1995, the Plan had the following number of
participants in each investment option (excluding company matching
contributions):
Number of
Participants
------------
Stable Income Fund 10,963
Balanced Fund 2,494
Stock Income Fund 5,355
Stock Index Fund 2,729
Stock Growth Fund 3,710
Acorn Fund 2,219
Entergy Corporation Stock Fund 4,666
Vesting: Amounts contributed by participants are fully vested at
all times. Participants become fully vested in the matching
account upon completion of five years of System service except for
all Entergy Gulf States employees who were eligible to participate
in the Gulf States Utilities Company Employees' Thrift Plan before
January 1, 1995, and who transferred into the Plan as of January 1,
1995, continued to be immediately vested in all past and future
matching contributions.
Plan termination: Although it has not expressed any intent to do
so, the System has the right under the Plan to discontinue its
contributions at any time and to terminate the Plan subject to the
provisions of ERISA. In the event of a Plan termination,
participants would receive the total value of their accounts,
determined as of the date of termination.
In-Service withdrawals: While employed, participants may, with
certain restrictions, annually withdraw all or a portion of the
value of their basic and supplemental after-tax, Rollover, and SIRA
accounts. Such withdrawals may include all or a portion of the
value of their basic and supplemental before-tax accounts if the
participant has attained age 59-1/2. These withdrawals may be
subject to a ten percent penalty unless the participant is age 59-
1/2 or older. The Plan also has a financial hardship withdrawal
provision.
Loans to participants: The Plan has a loan provision whereby
participants who are actively employed may borrow an amount from
their eligible account(s) based on the balance of such account(s).
The amount borrowed is deducted from the participant's eligible
account(s) and repaid with interest in accordance with an
established schedule. If a participant with an outstanding loan
separates from service, the remaining principal balance of the loan
is treated as a taxable distribution to the participant unless the
amount is repaid in full within a specified period from the date of
separation.
Distributions upon separation from service: Upon leaving a System
company, participants become eligible to receive a single-sum
distribution of the entire vested value of the Plan accounts, with
certain additional provisions regarding deferral of distributions,
installment distributions for certain retirees and disabled
participants, minimum account balances, and mandatory
distributions.
Asset value per unit: The number of units and the net asset value
per unit for the funds as of December 31, 1995 and 1994, were as
follows:
1995 1994
Stable Income Fund: ---------- -----------
Number of Units 52,394,931 50,451,019
Net Asset Value per unit $5.41 $4.93
Balanced Fund:
Number of Units 16,093,095 6,675,004
Net Asset Value per unit $1.23 $1.00
Stock Income Fund:
Number of Units 8,803,045 8,267,809
Net Asset Value per unit $8.40 $6.22
Stock Index Fund:
Number of Units 14,281,442 6,251,436
Net Asset Value per unit $1.33 $1.01
Stock Growth Fund:
Number of Units 25,719,264 9,895,592
Net Asset Value per unit $1.39 $1.03
Acorn Fund:
Number of Units 24,754,051 -
Net Asset Value per unit $1.21 -
The asset value of the Entergy Corporation Stock Fund is based on
the market value per share of Entergy Corporation common stock
which was $29.25 and $21.88 at December 31, 1995 and 1994,
respectively.
Inactive accounts: The amounts allocated to accounts of plan
participants who have withdrawn from participation in the plan, but
for which disbursements of those funds from the plan has not yet
been made is $154,930,302.
Forfeitures: Upon termination of employment for reasons other than
retirement, disability, or death, the portion of the employee's
account in which he/she is not vested at the time of termination
shall be forfeited and credited to the Plan Forfeiture Account.
Contributions forfeited for the years ended December 31, 1995 and
1994 were $182,176 and $93,212, respectively.
Plan amendments: Effective January 1, 1995, the dividend pass
through feature was added to the Plan. The new Plan feature allows
eligible participants to receive a cash distribution of their
Entergy common stock dividend held in the Company Match Account or
reinvest it back into the Plan. Eligible participants include all
participants which are vested in their Company Account. Entergy
employees with 5 years of service are vested.
Other: The following represents investments in excess of
five percent of the current value of net assets available for
benefits as of December 31, 1995 and 1994:
Investment December 31,1995 December 31, 1994
-------------------- ---------------- -----------------
Entergy Common Stock $308,509,490 $212,756,709
3. Entergy Corporation - Gulf States Utilities Company Merger
----------------------------------------------------------
On December 31, 1993, Entergy Corporation and Gulf States Utilities
Company (Entergy Gulf States, Inc.) consummated their merger.
Entergy Gulf States, Inc. became a wholly owned subsidiary of
Entergy Corporation. On May 5, 1994, the Board of Directors of
Entergy Corporation (Board) approved the combination of the Plan
and the Gulf States Utilities Employees' Thrift Plan.
On January 1, 1995, the non-bargaining employees of Entergy Gulf
States began making new contributions to the Plan. In April 1995,
the non-bargaining employees' and inactive participants' assets
were transferred from the Gulf States Utilities Company Employees'
Thrift Plan to the Plan. Bargaining unit employees of Entergy Gulf
States, other than River Bend, joined the Plan on October 1, 1995
and their assets were transferred in October 1995. The River
Bend bargaining unit elected to remain in the Gulf State
Utilities Employees' Thrift Plan. During 1995, the Plan received
$71,777,638 in cash and $39,867,964 in securities from the Gulf
States Utilities Company Employees' Thrift Plan.
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Item 27a - Schedule of Assets Held for Investment Purposes
December 31, 1995
E.I.N. 13-5550175 (Plan No. 003)
Shares Current
Description Face/Amount Cost Value
- --------------------------------------------------- ------------ ------------ ------------
Cash and temporary cash investments $ 6,429,766 $ 6,429,766
----------- ------------
Equity securities:
Entergy Corporation common stock (10,547,333 shares, $.01 par) $199,912,378 $308,509,490
------------ ------------
Other equity securities:
Domestic securities:
ENTERGY BALANCED FUND:
Avon Products, Inc. 300 17,501 22,612
CPC International Inc. 700 41,365 48,038
Colgate Palmolive Co. 900 66,730 63,225
General Mls Inc. 1,200 67,324 69,300
PepsiCo Inc. 4,900 221,226 273,787
Philip Morris Cos. Inc. 1,100 59,309 99,275
Premark Intl Inc. 1,800 90,529 91,125
Sara Lee Corp. 2,100 53,122 67,200
UST Inc. 2,000 54,974 66,750
Whitman Corp. 1,100 17,312 25,575
Abbott Labs 1,500 53,379 62,437
Baxter International Inc. 1,900 64,198 79,563
Bristol-Myers Squibb Comp. 4,000 267,966 343,500
Columbia/HCE Healthcare Corp. 600 23,939 30,450
Johnson & Johnson 2,900 175,553 247,950
Medtronic Inc. 1,200 33,535 67,050
Merck & Company Inc. 2,900 141,303 190,312
Millipore Corp. 600 13,971 24,675
Pfizer Inc. 400 15,305 25,200
Schering Plough Corp. 1,000 38,214 54,750
Albertsons, Inc. 3,200 101,784 105,200
Chrysler Corp. 2,200 117,904 121,275
Dana Corp. 1,300 35,393 38,025
Eastman Kodak Company 3,000 172,198 201,000
Eaton Corp. 1,100 60,607 58,987
Gap Inc. Del. 1,200 52,824 50,400
General Motors Corp. 1,200 57,467 63,450
Goodyear Tire & Rubber Company 1,300 52,176 58,988
Home Depot 2,800 117,358 133,700
Marriott International Inc. 600 22,680 22,950
Price/Costco Inc. 3,500 57,841 53,375
Safeway Inc. 1,000 46,270 51,500
Staples Inc. 1,350 27,009 32,906
Tedtronix Inc. 800 46,805 39,300
Toys R Us Inc. 4,200 116,400 91,350
Wal-Mart Stores Inc. 3,600 85,264 80,100
CISCO Systems Inc. 400 22,010 29,850
Digital Equip Corp. 700 39,995 44,888
Integated Device Technology Inc. 1,000 23,504 12,875
Intel Corp. 1,000 46,553 56,750
KOMAG Inc. 600 37,523 27,675
LAM Research Corp. 600 28,395 27,450
Linear Technology Corp. 700 28,239 27,475
Lockheed Martin Corp. 2,100 126,985 165,900
Microsoft Corp. 1,200 117,278 105,300
Parker Hannifin Corp. 600 18,435 20,550
Signa Aldrich Corp. 300 14,694 14,850
Teradyne Inc. 800 21,073 20,100
Texas Instruments Inc. 1,700 104,120 87,550
Xerox Corp. 2,400 290,113 328,800
Allied Signal Inc. 2,600 113,583 123,500
Boeing Company 1,900 125,148 148,913
Browning Ferris Industries Inc. 1,500 51,305 44,062
Cooper Inds Inc. 1,200 46,050 44,100
Dial Corporation 800 18,989 23,700
General Electric Comp. 3,300 187,431 237,600
Ogden Corp. 336 6,084 7,182
Raytheon Comp. 1,600 55,142 75,600
Tenneco Inc. 2,500 117,479 124,063
Textron Inc. 300 18,494 20,250
Webb Del Corp. 200 2,904 4,025
Aetna Life & Casualty Comp. 2,000 135,156 138,500
Allstate Corporation 2,900 81,472 119,263
American Express Company 4,200 141,307 173,775
Banc One Corp. 1,700 56,346 63,962
BankAmerica Corp. 400 19,660 25,900
Barnett Banks Inc. 700 32,729 41,300
Cigna Corp. 800 58,376 82,600
Chemical Banking Corp. 1,500 71,132 88,125
Dean Witter Discover & Co. 1,500 63,586 70,500
First Bank System Inc. 3,100 161,602 153,838
First Union Corp. 1,500 73,344 83,438
Fleet Financial Group Inc. 1,000 37,672 40,750
Lincoln Natl Corp. Ind. 1,400 63,304 75,250
Marsh & McLennan Cos Inc. 2,300 194,301 204,125
NationsBank Corp. 2,700 162,473 187,987
Weyerhaeuser Co. 700 30,354 30,275
Willamett Industries Inc. 200 10,154 11,250
AT&T Corp. 3,900 202,071 252,525
Ameritech Corporation 1,900 80,453 111,862
Anadarko Pertroleum Corp. 2,200 105,090 119,075
GTE Corp. 5,800 212,401 254,475
MCI Communications 1,800 47,796 47,025
NYNEX Corp 1,200 48,242 64,800
Pacific Gas & Electric Company 3,100 80,200 87,962
Panhandle Eastern Corp. 2,600 58,561 72,475
SBC Communication Inc. 1,300 57,414 74,425
Sprint Corp. 2,100 70,583 83,213
Unicom Corp. 1,600 43,032 52,400
Amoco Corp. 900 53,825 64,350
Baker Hughes Inc 800 16,720 19,500
British Pete LTD AMER SH 400 39,258 40,850
Chevron Corp. 700 30,523 36,662
Exxon Corp. 2,700 184,073 217,350
Halliburton Company 1,300 54,958 65,813
Mobil Corp. 1,500 139,284 167,625
Phillip Petroleum Co. 3,800 128,652 129,675
Norfolk & Southern Corp. 100 6,889 7,937
UAL Corp. 250 29,481 44,625
Air Products & Chemicals Inc. 1,100 58,877 58,025
British Steel PLC ADR 1,100 27,668 28,188
Federated Department Stores Inc. 2,400 65,898 65,400
Hercules Inc. 2,800 137,360 157,850
Kimberly Clark Corp. 1,500 95,501 124,125
Mead Corporation 1,200 52,329 62,700
Monsanto Company 1,200 135,892 147,000
Morton International Inc. 700 21,437 25,112
Pall Corporation 1,600 33,440 43,000
Praxair Inc. 600 13,455 20,175
---------- ----------
Subtotal Entergy Balanced Fund $8,072,592 $9,315,325
---------- ----------
ENTERGY STOCK INCOME FUND:
American Brands, Inc. 9,800 $407,935 $436,100
General MLS, Inc. 19,800 1,062,804 1,143,450
H. J. Heinz, Co. 43,600 1,353,649 1,444,250
Philip Morris Cos Inc. 17,400 1,129,139 1,570,350
RJR Nabisco Holdings Corp. 36,880 1,104,838 1,134,060
UST Inc. 17,900 627,667 597,412
American Home Products Corp. 17,100 1,343,722 1,658,700
Bristol-Myers Squibb Company 17,500 1,314,498 1,502,812
Glaxo Wellcome PLC 33,700 827,359 947,812
Pharmacia & Upjohn, Inc. 10,200 386,643 395,250
SmithKline Beechman participating preferred stock
Series B 27,000 915,011 1,498,500
Warner Lambert Co. 15,000 1,057,508 1,456,875
Chrysler Corp. 21,804 1,004,963 1,201,945
Ford Motor Company Del. 32,500 1,003,350 938,437
Genuine Parts Co. 20,000 685,662 820,000
Maytag Corp. 26,000 453,078 526,500
McGraw Hill, Inc. 22,100 1,501,989 1,925,462
J. C. Penney, Inc. 19,700 795,493 938,212
Royal PTT Nederland N V 23,600 835,481 855,500
Pitney Bowes, Inc. 25,200 1,165,077 1,184,400
Thomas & Betts Corp. 15,500 913,868 1,143,125
Am South Bancorporation 17,500 710,102 706,562
Cooper Inds. Inc. 25,900 912,906 951,825
General Dynamics Corp. 15,500 658,289 916,437
General Electric Company 22,500 1,082,035 1,620,000
Minnesota Mining & Manufacturing Co. 14,900 694,371 988,987
Tenneco, Inc. 18,900 853,099 937,912
American Express Company 17,600 874,204 976,800
American General Corp. 23,900 749,942 833,513
AON Corp. 21,400 919,893 1,067,325
Bank of Boston Corp. 12,500 531,277 578,125
Beneficial Corp. 23,700 1,110,858 1,105,013
H and R Block 8,900 350,499 360,450
Cigna Corp. 10,600 888,488 1,094,450
Chemical Banking Corporation 30,400 1,621,131 1,786,000
Corestates Financial Corp. 21,900 829,884 829,463
Crestar Finanial Corp. 15,100 871,158 892,788
First Chicago Corp. 20,977 836,218 828,592
Fleet Financial Group, Inc. 11,800 473,268 480,850
Integra Financial Corp. 11,800 450,780 744,875
Marsh & McLennan Cos., Inc. 6,800 536,574 603,500
Mellon Bank Corp. 21,700 930,119 1,166,375
Meridian Bancorp Inc. 25,000 781,607 1,162,500
St. Paul Companies, Inc. 22,200 909,404 1,234,875
Union Camp Corp. 15,000 678,745 714,375
U.S. Bancorp Ore. 19,000 487,748 638,875
Witco Corp. 29,700 703,081 868,725
Alltel Corp. 34,000 851,871 1,003,000
Bell South Corp. 25,200 933,156 1,096,200
FPL Group, Inc. 8,300 352,211 384,913
Frontier Corp. 40,000 841,277 1,200,000
GTE Corp. 22,700 873,750 995,963
Houston INDS, Inc. 15,400 339,262 373,450
PECO Energy Company 11,800 350,283 355,475
Questar Corp. 22,300 716,820 747,050
SBC Communications, Inc. 17,600 883,731 1,007,600
Sonat, Inc. 10,000 282,780 356,250
Williams COS, Inc. 30,400 1,110,926 1,333,800
Amoco Corp. 19,800 1,157,413 1,415,700
Atlantic Richfield Co. 6,400 670,776 708,800
Exxon Corp. 19,000 1,194,947 1,529,500
Mobil, Corp. 9,900 986,929 1,106,325
Occidental Petroleum Corp. 36,100 722,188 771,638
UJB FINL Corp. 31,900 1,043,436 1,136,438
Norfolk & Southern Corp. 800 60,691 63,500
Union Pacific Corp. 13,700 772,900 904,200
Dow Chemical Company 6,600 437,787 463,650
E.I. DuPont De Nemours & Co. 28,400 1,548,621 1,984,450
Federal Paper Board 17,100 843,397 887,063
Freeport McMoran Copper & Gold, Inc. 36,700 749,098 1,032,188
Imperial Chemical Inds. PLC 14,000 738,224 654,500
Kimberly Clark Corp. 21,500 1,252,800 1,779,125
Monsanto Co. 17,500 1,124,129 2,143,750
----------- ----------
Subtotal Entergy Stock Income Fund $61,174,817 $72,842,872
----------- -----------
ENTERGY STOCK INDEX FUND:
Wells Fargo Institutional Trust Co. 646,269 $15,043,317 $17,931,737
----------- -----------
ENTERGY STOCK GROWTH FUND:
Coca Cola 6,500 341,745 482,625
Duracell Intl 10,300 494,253 533,025
Gillette Company 9,900 402,773 516,037
Pepiso Inc. 11,800 544,867 659,325
Chiron Corp. 4,803 343,438 530,731
Johnson & Johnson 4,700 407,384 401,850
Lilly Eli & Company 13,800 559,992 776,250
Merck & Company Inc. 6,600 353,709 433,125
Pfizer Inc. 6,000 376,969 378,000
Smithkline Beechman 15,200 668,389 843,600
United Healthcare Corp. 14,700 684,241 961,013
Autozone Inc. 20,000 523,975 577,500
CUC Intl Inc. 14,250 367,698 486,281
Walt Disney Co. 13,700 709,450 806,587
Dollar General Corp. 9,800 296,243 203,350
Harrah's Entertainment Inc. 10,200 278,470 247,350
Home Depot 11,500 483,709 549,125
ITT Corp. 7,800 389,990 413,400
Kohls Corp. 9,100 442,956 477,750
Lone Star Steakhouse Saloon 10,000 300,252 383,750
Mc Donalds Corp. 8,200 261,195 370,025
Omnicom Group Inc. 17,800 514,687 663,050
Phycor Inc. 13,700 268,371 692,713
Promus Hotel Corp. 9,100 206,221 202,475
Reuters Holdings Plc Ord B 12,200 588,354 672,525
Scholastic Corp. 7,500 404,255 583,125
Adobe Systems Incorporated 10,100 445,367 626,200
America Online Inc. 11,300 355,948 423,750
Applied Materials Inc. 11,600 381,394 456,750
Autodesk Inc. 13,900 471,142 476,075
Broderbund Software Inc. 5,500 302,901 334,125
Cisco Systems Inc. 11,900 577,800 888,038
Compaq Computer Corp. 11,000 495,635 528,000
Computer Assoc Intl Inc. 12,850 469,864 730,844
Dell Computer Corp. 11,100 455,390 384,337
First Data Corp. 9,100 451,352 608,563
General Motors Class E 4,300 217,165 223,600
Hewlett Packard Company 14,100 866,472 1,180,875
Intel Corp. 19,600 950,189 1,112,300
Intuit Inc. 4,200 321,840 327,600
LSI Logic Corp. 20,700 666,019 677,925
Maxis Inc. 8,700 321,696 330,600
Microsoft Corp. 6,800 468,706 596,700
Micro Warehouse Inc. 9,900 335,614 428,175
Minerals Technologies Inc. 9,300 310,414 339,450
Motorola Inc. 7,800 484,942 444,600
Silicon Graphics Inc. 12,000 415,833 331,500
Symbol Technologies Inc. 13,200 391,288 521,400
Tellabs Inc. 13,300 523,660 492,100
Boeing Company 13,800 814,323 1,081,575
Clear Channel Communications 13,200 389,242 582,450
Harnischfeger Industries Inc. 13,000 395,048 432,250
International Rectifier Corp. 29,200 441,520 730,000
Federal National Mortgage Assn. 7,200 653,672 891,900
ITT Hartford Group Inc. 4,800 233,450 232,200
MGIC Investment 10,800 570,163 585,900
Morgan Stanley Group 4,900 409,864 395,063
National RE Corp. 16,500 502,730 627,000
Delta Air Lines Inc. 8,500 560,170 625,813
Nokia Corp. 11,000 561,355 429,000
----------- -----------
Subtotal Entergy Stock Growth Fund $27,425,754 $32,921,245
----------- -----------
Acorn Mutual Fund:
Acorn Investment Trust 2,176,590 $26,774,710 $29,601,624
----------- -----------
Total domestic securities $138,491,190 $162,612,803
------------ ------------
Foreign securities:
ENTERGY BALANCED FUND:
Unilever NV New York 900 $ 116,813 $ 126,675
Imperial Oil Ltd. 2,800 98,001 101,150
----------- -----------
Subtotal Entergy Balanced Fund $ 214,814 $ 227,825
----------- -----------
ENTERGY STOCK INCOME FUND:
Imperial Oil Ltd. 9,900 $ 351,364 $ 357,638
----------- -----------
ENTERGY STOCK GROWTH FUND
Vodafone Group PLC 15,300 $ 560,103 $ 539,325
----------- -----------
Total foreign securities $ 1,126,281 $ 1,124,788
------------ ------------
Total other equity securities $139,617,471 $163,737,591
============ ============
Fixed income securities:
U.S. Treasury and government agency securities:
ENTERGY STABLE INCOME FUND:
Federal Home Loan Mtg.(8.00% due 2/1/00) 1,277,507 1,309,844 1,319,703
Federal Home Loan Mtg. (7.50% due 8/1/99) 671,831 686,947 693,793
Federal Home Loan Mortgage (7.50% due 1/1/00) 326,666 334,016 337,387
Federal Home Loan Mtg. (8.00% due 2/1/00) 555,197 569,250 573,391
Federal Home Loan Bank FHOR (4.37% due 2/24/97) 4,000,000 3,744,375 3,974,000
Federal Home Loan Bank FHLB (7.81% due 7/17/96) 1,000,000 1,001,250 1,013,440
Federal Natl Mtg. Assn FNFR (var. rate due 4/29/96) 1,460,000 1,459,563 1,434,450
GNMA Pool (9.00% due 4/15/25) 1,621,420 1,704,011 1,717,310
GNMA Pool (9.00% due 8/15/24) 223,375 234,753 236,592
GNMA Pool (9.00% due 5/15/25) 115,222 121,091 122,006
GNMA Pool (9.00% due 8/15/25) 200,715 210,939 212,692
GNMA Pool (9.00% due 2/15/25) 43,029 45,221 45,555
GNMA Pool (9.00% due 1/15/25 215,068 226,023 227,327
GNMA Pool (9.00% due 8/15/24) 59,444 62,471 62,918
GNMA Pool (9.00% due 3/15/25) 93,703 98,476 99,163
GNMA Pool (9.00% due 9/15/24) 49,648 52,177 52,579
GNMA Pool (9.00% due 4/15/25) 894,334 939,889 947,306
GNMA Pool (9.00% due 9/15/24) 78,882 82,900 83,549
GNMA Pool (9.00% due 7/15/25) 243,483 255,885 257,958
GNMA Pool (9.00% due 12/15/24) 150,652 158,325 159,608
GNMA Pool (9.00% due 7/15/25) 720,339 757,031 763,048
GNMA Pool (9.00% due 4/15/25) 86,356 90,754 91,465
GNMA Pool (9.00% due 7/15/25) 565,351 594,149 598,944
GNMA Pool (9.00% due 7/15/25) 494,619 519,814 523,663
GNMA Pool (9.00% due 10/15/25) 494,734 519,934 524,259
GNMA Pool (9.50% due 3/15/23) 1 1 1
US Treasury Oblig Notes (5.25% due 7/31/98) 2,000,000 1,991,839 2,001,250
US Treasury Oblig Notes (4.75% due 8/31/98) 900,000 884,250 889,312
US Treasury Oblig Notes (5.125% due 11/30/98) 2,385,000 2,365,622 2,377,547
US Treasury Oblig Notes (6.875% due 8/31/99) 1,000,000 1,040,781 1,050,940
----------- -----------
Subtotal Entergy Stable Income Fund: $22,061,581 $22,391,156
----------- -----------
ENTERGY BALANCED FUND:
FNMA (6.36% Due 8/16/00) 270,000 269,409 278,343
U.S. Treasury Note (13.875% due 5/15/11) 190,000 294,841 309,463
U.S. Treasury Note (11.625% due 11/15/04) 580,000 795,834 821,425
U.S. Treasury Note (8.125% due 8/15/21) 200,000 228,110 253,000
U.S. Treasury Note (7.50% due 11/15/01) 860,000 918,662 948,150
U.S. Treasury Note (6.875% due 8/31/99) 125,000 123,455 131,368
U.S. Treasury Note (7.125% due 9/30/99) 540,000 558,225 572,570
U.S. Treasury Note (7.875% due 11/15/04) 150,000 158,008 173,672
U.S. Treasury Note (7.50% due 2/15/05) 675,000 740,220 765,281
U.S. Treasury Note (6.125% due 5/15/98) 470,000 474,186 479,548
U.S. Treasury Note (5.625% due 6/30/97) 300,000 298,589 301,970
U.S. Treasury Note (5.8750% due 6/30/00) 70,000 69,113 71,488
U.S. Treasury Note (6.125% due 7/31/00) 210,000 211,104 216,300
U.S. Treasury Note (6.125% due 9/30/00) 630,000 644,667 649,098
----------- -----------
Subtotal Entergy Balanced Fund
$ 5,784,423 $ 5,971,676
Total U.S. Treasury and government ----------- -----------
agency securities $27,846,004 $28,362,832
=========== ===========
Guaranteed investment contracts:
Interest Rate Maturity Date
ENTERGY STABLE INCOME FUND: ------------- -------------
The Principal Financial Group 7.50% 9/30/96 6,854,192 6,854,192
Provident Life & Accident Ins. 5.53% 9/30/97 3,845,991 3,845,991
State Mutual Life Assurace 5.42% 9/30/97 3,844,237 3,844,237
Continental Assurance Company 5.72% 3/31/97 3,971,735 3,971,735
Provident National Assur. Co. 9.02% 3/31/96 2,238,009 2,238,009
------------ ------------
Total guaranteed investment contracts $ 20,754,164 $ 20,754,164
============ ============
Synthetic investment contracts (SIC) trust assets:
Entergy Stable Income Fund:
Money market funds - - $ 1,008,138 $ 1,008,138
Government obligations - - 81,082,877 82,848,437
Non-government obligations - - 28,741,528 29,265,464
------------ ------------
Total $110,832,543 $113,122,039
Issuing agent's gain on guarantee of SIC (wrapper) (2,696,704)
------------
Contract value of SIC $110,425,335
============
Shares Current
Description Face/Amount Cost Value
- ---------------------------------- ------------ ------------ ------------
Mutual Fund:
Entergy Stable Income Fund
IDS Trust - $ 13,231,811 $ 13,231,811
============ ============
Other corporate securities:
Nongovernment obligations:
Entergy Stable Income Fund
AFC Home Equity Loan Trust (5.90% due 5/20/08) 339,760 310,828 334,562
AFC Home Equity Loan Trust (6.00% due 1/20/13) 306,323 295,148 303,260
Advanta Mortgage Loan Trust (5.50% due 3/25/10) 746,268 745,451 716,641
Advanta Mortgage Loan Trust (7.27% due 11/25/08) 446,952 444,787 447,577
Advanta Home Equity Loan Trust (7.15% due 6/25/08) 361,812 371,623 370,098
Associates Corp North Amer (7.50% due 5/15/99) 200,000 207,072 210,860
Assoc Corp N.A. (6.00% due 3/15/00) 1,000,000 987,980 1,003,200
Auto One Securitization Corp. (7.25% due 7/15/01) 2,840,697 2,839,365 2,910,294
Bank Of Boston Corp. (9.50% due 8/15/97) 3,376,000 3,632,861 3,578,898
Bear Stearns Co. (6.750% due 8/15/00) 875,000 869,444 900,638
MTNCIT Group Holdings (7.625% due 12/5/96) 2,050,000 2,034,563 2,086,285
Capital Auto Receivables Asset (4.60% due 10/15/98) 1,103,611 1,100,162 1,104,825
Capital One Bank (6.66% due 8/17/98) 2,025,000 2,026,478 2,064,083
Centura Bank (7.95% due 7/25/96) 3,700,000 3,698,927 3,749,580
Charter Equipment Lease Trust (7.40% due 10/25/01) 2,514,991 2,513,911 2,598,488
Chrysler Finance Corp. (5.20% due 11/12/96) 150,000 149,816 149,325
Chrysler Financial Corporation (6.00% due 4/15/96) 1,000,000 1,025,180 999,070
Citicorp (8.75% due 11/1/96) 1,200,000 1,325,016 1,232,160
Contimortgage Home Equity Loan (9.07% due 10/15/09) 1,175,000 1,219,980 1,222,822
Contimortgage Home Equity Loan (6.86% due 7/15/10) 2,925,000 2,924,086 2,986,132
ERP Operating Limited Partnership (var. due 12/22/97) 2,900,000 2,903,486 2,915,428
EQCC Home Equity Loan Trust (var. rate due 12/15/08) 1,527,974 1,534,659 1,506,888
FDIC Remic Trust (6.30% due 9/25/25) 287,989 287,899 287,629
FPC Group Cap Inc. (6.50% due 7/1/97) 400,000 400,000 404,920
Federal Reality Investment Trust (8.875% due 1/15/00) 1,300,000 1,418,560 1,396,330
Finova Capital Corp (6.45% due 6/1/00) 1,525,000 1,518,442 1,548,180
First Intst Bancorp (10.50% due 3/1/96) 950,000 1,037,560 957,600
First USA Bank (8.20% due 2/15/98) 1,050,000 1,048,624 1,100,820
Ford Holdings Inc. (9.250% due 7/15/97) 1,400,000 1,474,368 1,475,740
Ford Motor Credit Company(5.625% due 1/15/99) 875,000 858,427 872,900
Ford Motor Credit (var. rate due 7/12/96) 625,000 625,000 620,312
Franchise Finance Corp. (7.00% due 11/30/00) 1,050,000 1,041,463 1,050,315
General Motors Acceptance Corp. (7.50% due 5/19/97) 425,000 443,079 436,050
General Motors Acceptance Corp. (6.625% due 3/22/99) 1,000,000 1,020,900 1,025,000
General Motors Acceptance (8.375% due 5/1/97) 700,000 706,020 727,566
General Motors Acceptance Corp. (7.75% due 1/15/99) 325,000 341,910 342,745
Georgia Pacific Corp. (9.85% due 6/15/97) 1,202,000 1,377,890 1,265,345
Great Northern Nekoosa Corp. (9.125% due 2/1/98) 350,000 397,985 370,790
Green Tree Financial Corp. CMO (7.05% due 1/15/18 1,225,000 1,288,930 1,250,480
Green Tree Financial Corp (6.10% due 7/15/18) 600,000 598,688 607,140
Green Tree Financial Corp (5.86% due 1/15/19) 1,575,000 1,574,508 1,579,882
Green Tree Financial Corp (5.60% due 4/15/19) 1,519,650 1,491,869 1,519,194
Green Tree Securitized Net Inter (6.90% due 2/15/04) 1,808,951 1,808,103 1,807,250
Green Tree Financial Corp. (7.25% due 7/15/05) 888,860 888,444 901,360
Health & Retirement Properties Tr.(Var. due 7/13/99) 3,400,000 3,368,447 3,381,572
Hertz Corp. (9.50% due 5/15/98) 2,650,000 2,848,246 2,872,335
Home Equity Loan Trust (6.65% due 11/20/12) 115,144 114,604 115,627
Houston Industries Inc. (7.25% due 12/1/96) 1,625,000 1,715,512 1,647,425
Huntington Bancshares (6.15% due 10/15/98) 950,000 949,763 962,359
International Lease Finance Corp. (6.125% due 11/1/99) 1,350,000 1,349,163 1,365,660
MBNA Master Credit Card Trust (7.75% due 10/15/98) 385,000 404,009 391,584
Merrill Lynch Mortgage Invs (7.40% due 7/15/17) 1,420,091 1,407,285 1,454,600
Merrill Lynch (var. rate due 4/7/97) 1,375,000 1,366,406 1,369,789
NCNB Corp. (8.50% due 11/1/96) 545,000 586,453 558,287
News America Holdings (7.50% due 3/1/00) 2,950,000 3,058,265 3,087,765
DSCC Home Equity LN TR (6.55% due 11/25/07) 142,706 142,662 143,192
OCSS Home Equity Loan Trust (5.85% due 3/15/08) 827,705 836,629 825,553
Occidental Petroleum Corp.(9.50% due 8/15/97) 1,300,000 1,385,410 1,377,090
Occidental Pete (5.84% due 11/9/98) 1,000,000 982,210 1,000,900
Resolution TR Corp. Mtg.(7.50% due 8/25/23) 210,622 216,315 212,531
SPNB Home Equity LN (7.85% due 5/15/98) 62,891 64,922 63,639
SPNB Home Equity LN (8.15% due 6/15/20) 497,590 523,558 512,269
Salomon Inc. (9.375% due 4/15/98) 550,000 582,368 584,045
Salomon Inc. (7.05% due 1/15/98) 250,000 257,463 253,125
Salomon Inc. (6.36% due 4/1/98) 125,000 125,000 124,850
Salomon Inc. (var. rate due 4/5/99) 750,000 750,000 742,500
Salomon Inc. (6.82% due 7/26/99) 1,425,000 1,425,000 1,434,263
Sears Roebuck & Co. (7.72% due 3/10/97) 125,000 133,016 127,825
Shawmut Corp. (8.875% due 4/1/96) 1,275,000 1,357,989 1,285,073
Shawmut Corporation (8.125% due 2/1/97) 240,000 245,825 246,552
Smith Barney HLD (6.625% due 6/1/00) 2,750,000 2,758,030 2,811,325
TMS Trust (8.75% due 1/15/21) 2,000,000 1,999,063 2,163,400
The Money Store Home Equity TR (6.90% due 7/15/07) 451,922 456,238 458,249
TMS Home Equity Loan Trust (5.675% due 2/15/09) 2,644,009 2,621,537 2,580,817
Taubman Realty Group (8.00% due 6/15/99) 1,550,000 1,577,435 1,625,020
Tele Communications Inc. (6.16% due 8/19/96) 1,125,000 1,161,720 1,124,550
Tennessee Gas Pipeline Co (9.00% due 1/15/97) 525,000 559,628 540,425
Time Warner Entertainment Co.(9.625% due 5/1/02) 3,900,000 4,608,474 4,469,790
QCFC Loan TR(6.075% due 7/25/14) 1,121,122 1,122,970 1,109,686
UCFC Home Equity Loan (7.10% due 6/10/23) 888,448 891,641 910,482
USF&G Corporation (7.00% due 5/15/98) 4,350,000 4,344,041 4,461,360
World Omni (7.95% due 1/25/01) 3,000,000 2,995,781 3,079,800
Xerox Corp. (9.625% due 9/1/97) 900,000 959,067 958,500
------------ ------------
Subtotal Entergy Stable Income Fund $107,061,637 $107,372,476
------------ ------------
ENTERGY BALANCED FUND:
ABN-AMRO BK NV (Chicago) (7.25% due 5/31/05) 60,000 61,446 64,566
AT&T Universal Card Master Trust (5.95% due 10/17/02) 110,000 109,244 110,528
American General Finance (7.250% due 5/15/05) 30,000 30,849 32,010
Banc One Auto Trust (7.05% due 8/15/98) 30,000 30,619 30,846
Bancamerica Corporation (7.50% due 3/15/97) 30,000 29,929 30,711
Banponce Financial Corp. (7.30% due 6/5/02) 80,000 81,878 84,376
Boeing Co (8.625% due 11/15/31) 70,000 87,739 88,557
Chemical Banking Corp. (7.625% due 1/15/03) 10,000 9,865 10,831
Chemical Master Credit Card TR1 (6.23% due 4/15/05) 110,000 109,897 111,001
Du Pont E I De Nemours & Co. (8.45% due 10/15/96) 20,000 20,972 20,478
Fleet Mortgage Group (6.125% due 8/15/97) 50,000 47,909 50,465
Ford Motor Credit Notes (8.20% due 2/15/02) 170,000 182,954 188,802
General Motors Acceptance Corp. (6.75% due 6/17/02) 80,000 79,491 83,064
Green Tree Finl Corp. (5.75% due 10/15/18) 90,000 85,894 87,804
Green Tree Financial Corporation (7.300% due 11/15/19) 60,000 61,237 62,262
Heinz H J Company (5.50% due 9/15/97) 10,000 9,940 10,020
IBM Corp (7.00% due 10/30/25) 90,000 89,336 92,700
Korea Development Bank (5.87% due 12/1/98) 10,000 9,374 9,995
GCB Legrand S.A.(8.50% due 2/15/25) 60,000 66,399 71,958
Lehman Brothers Hldgs (6.625% due 11/15/00) 60,000 59,894 60,924
McDonnell Douglas Corp. (8.625% due 4/1/97) 10,000 10,149 10,350
Morgan Stanley Group Inc. (7.50% due 2/1/24) 30,000 25,885 31,038
NBD Bancorp (7.125% due 5/15/07) 80,000 82,632 85,488
New America Holdings (9.250% due 2/1/13) 30,000 33,606 35,754
Ohio Edison Company (8.75% due 2/15/98) 10,000 10,155 10,481
Pacific Bell (8.70% due 6/15/01) 80,000 87,503 90,424
Pepsico Inc.(7.00% due 11/15/96) 15,000 15,311 15,210
Philip Morris (9.0% due 01/01/01) 160,000 177,891 179,568
Philip Morris Cos Inc.(8.25% due 10/15/03) 40,000 42,358 44,732
Prime Credit Card Master Trust (7.05% due 2/15/01) 80,000 81,612 82,776
St. Paul Companies Inc.(9.375% due 6/15/97) 30,000 32,011 31,641
Salomon Inc. (7.00% due 1/20/98) 40,000 39,989 40,468
Salomon Inc. (6.7% due 12/01/98) 40,000 40,000 40,320
Sears Credit Account Master Trust(6.05% due 2/15/04) 80,000 79,913 80,432
Society National Bank (7.25% due 6/01/95) 90,000 93,916 95,922
Standard Credit Card Master Trust (5.90% due 2/07/01) 110,000 109,915 110,033
Swiss Bank Corp (7.50% due 7/15/25) 90,000 87,490 98,955
TCI communications Inc. (8.65% due 9/15/04) 50,000 53,193 55,435
Torchmark Corp. (7.875% due 5/15/23) 10,000 9,599 10,788
Valassis Communications Inc.(9.55% due 12/1/03) 30,000 32,737 33,768
WMX Technologies (6.22% due 4/30/04) 70,000 74,888 76,846
Westpac Banking (7.875% due 10/15/02) 60,000 61,299 66,150
Atlantic Richfield (8.750% due 03/01/32) 70,000 88,119 89,313
------------ ------------
Subtotal Entergy Balanced Fund $2,635,037 $2,717,790
------------ ------------
Foreign obligations:
Entergy Stable Income Fund:
INCO Euro Note (7.988% due 4/29/96) 1,107,000 1,130,844 1,119,598
Forte PLC (7.75% due 12/19/96) 1,800,000 1,889,046 1,833,048
Goldman Sachs Euro Note (7.625% due 5/29/97) 2,000,000 2,007,880 2,052,500
Goldman Sachs Euro Note (5.00% due 8/23/96) 2,000,000 1,934,560 1,989,000
Westpac Banking Corp. Euro Note (8.00% due 5/28/96) 1,600,000 1,637,644 1,707,805
------------ ------------
Subtotal Entergy Stable Income Fund: $ 8,599,974 $ 8,701,951
------------ ------------
Entergy Balanced Fund
Australia & New Zealand Banking (6.25% due 2/1/04) 90,000 87,866 90,054
Hanson Overseas B. V. (7.375% due 01/15/03) 40,000 41,938 42,972
Korea Development Bank (6.250% due 5/1/00) 90,000 88,558 90,765
Pohang Iron & Steel Co (7.375% due 5/15/05) 80,000 82,774 85,424
Quebec Province Canada (8.80% due 4/15/03) 80,000 87,958 91,928
Svenska Hndlsbkn (8.35% due 7/15/04) 80,000 90,386 90,640
------------ ------------
Subtotal Entergy Balanced Fund $ 479,480 $ 491,783
------------ ------------
Total other corporate securities $118,776,128 $119,284,000
------------ ------------
Loans to participants (Bearing interest rates of prime +1%
with terms of up to 20 years) $ - $ 10,725,071
------------ ------------
Total Investments $636,993,057 $781,460,060
============ ============
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Item 27d - Schedule of Reportable Transactions
December 31, 1995
E.I.N. 13-5550175 (Plan No. 003)
Description of Number of Purchase Price and Value Selling Price and Value Cost of Shares
Transactions Transactions at Transaction Date at Transaction Date Sold
- --------------------- ------------ ------------------------ ---------------------- --------------
Purchase Transactions
- ---------------------
Fidelity U.S.
Treasury Portfolio 653 $375,646,235
Tower Money Market
Account 6 $ 35,113,931
U.S. Treasury Notes 23 $ 51,973,568
Selling Transactions
- ----------------------
Fidelity U.S.
Treasury Portfolio 444 $372,307,968 $372,307,968
Tower Money Market
Account 4 $ 31,272,036 $ 31,272,036
U.S. Treasury Notes 29 $ 45,468,240 $ 45,666,846
* There were no significant expenses, gains or losses associated with the above
transactions.
SIGNATURE
The Plan. Pursuant to the requirements of the Securities and
Exchange Act of 1934, the Employee Benefits Committee has duly caused
this annual report to be signed on its behalf by the undersigned
hereunto duly authorized.
SAVINGS PLAN OF ENTERGY
CORPORATION AND SUBSIDIARIES
By: /s/ William O. VanAs
--------------------
William O. VanAs
Director of
Employee Benefits
Dated: June 19, 1996
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the registration
statement of Entergy Corporation on Form S-8 (File No. 33-54298)
of our report dated June 19, 1996, on our audits of the financial
statements and supplemental schedules of The Savings Plan of
Entergy Corporation and its Subsidiaries as of December 31, 1995
and 1994 and for the two years ended December 31, 1995 which
report is included in this Annual Report on Form 11-K.
New Orleans, Louisiana
June 19, 1996