Equibles

8-K

ENTERGY TEXAS, INC. (ETI-P)

8-K 2020-06-30 For: 2020-06-30
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Added on April 06, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date earliest event reported) June 30, 2020

Commission<br><br>File Number Registrant, State of Incorporation or Organization, Address of Principal Executive Offices, Telephone Number, and IRS Employer Identification No. Commission<br><br>File Number Registrant, State of Incorporation or Organization, Address of Principal Executive Offices, Telephone Number, and IRS Employer Identification No.
1-11299 ENTERGY CORPORATION 1-35747 ENTERGY NEW ORLEANS, LLC
(a Delaware corporation)<br><br>639 Loyola Avenue<br><br>New Orleans, Louisiana 70113<br><br>Telephone (504) 576-4000 (a Texas limited liability company)<br><br>1600 Perdido Street<br><br>New Orleans, Louisiana 70112<br><br>Telephone (504) 670-3700
72-1229752 82-2212934
1-10764 ENTERGY ARKANSAS, LLC 1-34360 ENTERGY TEXAS, INC.
(a Texas limited liability company)<br><br>425 West Capitol Avenue<br><br>Little Rock, Arkansas 72201<br><br>Telephone (501) 377-4000 (a Texas corporation)<br><br>10055 Grogans Mill Road<br><br>The Woodlands, Texas 77380<br><br>Telephone (409) 981-2000
83-1918668 61-1435798
1-32718 ENTERGY LOUISIANA, LLC 1-09067 SYSTEM ENERGY RESOURCES, INC.
(a Texas limited liability company)<br><br>4809 Jefferson Highway<br><br>Jefferson, Louisiana 70121<br><br>Telephone (504) 576-4000 (an Arkansas corporation)<br><br>1340 Echelon Parkway<br><br>Jackson, Mississippi 39213<br><br>Telephone (601) 368-5000
47-4469646 72-0752777
1-31508 ENTERGY MISSISSIPPI, LLC
(a Texas limited liability company)<br><br>308 East Pearl Street<br><br>Jackson, Mississippi 39201<br><br>Telephone (601) 368-5000
83-1950019

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Registrant Title of Class Trading<br><br>Symbol Name of Each Exchange<br><br>on Which Registered
Entergy Corporation Common Stock, $0.01 Par Value ETR New York Stock Exchange
Common Stock, $0.01 Par Value ETR NYSE Chicago, Inc.
Entergy Arkansas, LLC Mortgage Bonds, 4.90% Series due December 2052 EAB New York Stock Exchange
Mortgage Bonds, 4.75% Series due June 2063 EAE New York Stock Exchange
Mortgage Bonds, 4.875% Series due September 2066 EAI New York Stock Exchange
Entergy Louisiana, LLC Mortgage Bonds, 5.25% Series due July 2052 ELJ New York Stock Exchange
Mortgage Bonds, 4.70% Series due June 2063 ELU New York Stock Exchange
Mortgage Bonds, 4.875% Series due September 2066 ELC New York Stock Exchange
Entergy Mississippi, LLC Mortgage Bonds, 4.90% Series due October 2066 EMP New York Stock Exchange
Entergy New Orleans, LLC Mortgage Bonds, 5.0% Series due December 2052 ENJ New York Stock Exchange
Mortgage Bonds, 5.50% Series due April 2066 ENO New York Stock Exchange
Entergy Texas, Inc. Mortgage Bonds, 5.625% Series due June 2064 EZT New York Stock Exchange
5.375% Series A Preferred Stock, Cumulative, No Par Value (Liquidation Value $25 Per Share) ETI/PR New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐

Item 7.01 Regulation FD Disclosure.

On June 30, 2020, Entergy Corporation published on its website the 2019 Entergy Statistical Report and Investor Guide (the “Investor Guide”). The Investor Guide is a compilation of financial and operating data, financial metrics and other information about Entergy and its subsidiaries. The Investor Guide is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information contained in this Current Report on Form 8-K is being furnished, not filed, pursuant to Regulation FD.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description
99.1 2019 Entergy Statistical Report and Investor Guide
104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Entergy Corporation

Entergy Arkansas, LLC

Entergy Louisiana, LLC

Entergy Mississippi, LLC

Entergy New Orleans, LLC

Entergy Texas, Inc.

System Energy Resources, Inc.

By: /s/ Marcus V. Brown

Marcus V. Brown

Executive Vice President and

General Counsel

Dated: June 30, 2020

		Exhibit

entergylogoa33.gif

ENTERGY STATISTICAL REPORT
AND INVESTOR GUIDE
2019
Our Vision: We Power Life
Our Mission: We exist to grow a world-class energy business that creates sustainable value for our four key stakeholders – our customers, our employees, our communities and our owners.
Entergy Corporation (NYSE:ETR) is an integrated energy company<br>engaged primarily in electric power production and retail distribution<br>operations. Entergy owns and operates power plants with<br>approximately 30,000 megawatts of electric generating capacity,<br> including nearly 9,000 megawatts of nuclear power. Entergy delivers <br>electricity to 2.9 million utility customers in Arkansas, Louisiana,<br>Mississippi and Texas. Entergy has annual revenues of $11 billion and approximately 13,600 employees.
We have assembled the statistics and facts in this report to support your review and analysis of Entergy’s results over the last three years.<br><br><br><br>This information is available in two electronic files, Excel and PDF in order to facilitate easier access and analysis.
Entergy Investor Relations
TABLE OF CONTENTS Note: The Excel Tab labels correspond to the page numbers
in the PDF version of the 2019 report.
Excel Tab Excel Tab
ABOUT THIS PUBLICATION Page 2 Utility Securities Detail Pages 31 – 34
FORWARD-LOOKING INFORMATION Page 2 Utility Long-Term Debt and Preferred Stock Page 31
REGULATION G COMPLIANCE Page 2 Entergy Arkansas, LLC Page 31
ENTERGY AT A GLANCE Pages 3 – 4 Entergy Utility Holding Company, LLC Page 31
Entergy Louisiana, LLC Page 32
ENTERGY CORPORATION AND SUBSIDIARIES Entergy Mississippi, LLC Page 33
Selected Financial and Operating Data Page 5 Entergy New Orleans, LLC Page 33
Selected Financial Data Page 5 Entergy Texas, Inc. Page 34
Utility Electric Operating Data Page 5 System Energy Resources, Inc. Page 34
Entergy Wholesale Commodities Operating Data Page 5 Utility Statistical Information Pages 35 – 47
Employees Page 5 Utility Total Capability Page 35
Owned and Leased Capability Page 5 Utility Selected Operating Data Page 35
Consolidated Quarterly Financial Metrics Page 6 Utility Electric Statisitcal Information Page 36
Consolidated Annual Financial Metrics Page 6 Entergy Arkansas, LLC Pages 37 – 38
Financial Results Page 7 Entergy Louisiana, LLC Pages 39 – 40
GAAP to Non-GAAP Reconciliations: Page 7 Entergy Mississippi, LLC Pages 41 – 42
Consolidated Quarterly Results Page 7 Entergy New Orleans, LLC Pages 43 – 44
Consolidated Quarterly Adjustments Pages 8 – 9 System Energy Resources, Inc. Page 44
Consolidated Annual Results Page 10 Entergy Texas, Inc. Pages 45 – 46
Consolidated Annual Adjustments Pages 11 – 12 Utility Nuclear Plant Statistics Page 47
Consolidated Statements of Operations Page 13 Utility Regulatory Information Page 48
Consolidating Income Statement Page 14 State Regulatory Commissions Page 48
Consolidated Balance Sheets Pages 15 – 16 Commission/Council Members Page 48
Consolidating Balance Sheet Pages 17 – 18
Consolidated Statements of Cash Flow Pages 19 – 20 ENTERGY WHOLESALE COMMODITIES
Cash Flow Information by Business Page 20 EWC Quarterly Financial Metrics Page 49
Consolidated Statements of Changes in Equity Page 21 EWC Annual Financial Metrics Page 49
Consolidated Statements of Comprehensive Page 22 EWC Quarterly Operational Metrics Page 49
Income (Loss) EWC Annual Operational Metrics Page 49
Consolidated Capital Expenditures Page 23 EWC Total Capacity Page 49
Historical Capital Expenditures Page 23 EWC Nuclear Plant Statistics Page 50
Entergy Corporation Securities Detail Page 23 EWC Nuclear Plant Additional Information Page 50
Entergy Corporation Long-Term Debt Page 23 EWC Non-Nuclear Wholesale Assets Page 50
Securities Ratings (Outlook) Page 23 Plant Statistics
Preferred Member Interests Page 23 EWC Non-Nuclear Wholesale Assets Page 50
UTILITY Plant Emissions
Utility Quarterly Financial Metrics Page 24 EWC Non-Nuclear Assets Securities Detail Page 51
Utility Annual Financial Metrics Page 24 Vermont Yankee Credit Facility Page 51
Utility Securities Ratings (Outlook) Page 24 Preferred Stock Page 51
Utility Historical Capital Expenditures Page 24
Utility Financial Results Pages 25 – 30 DEFINITIONS OF OPERATIONAL MEASURES AND
Utility Consolidating Income Statement Page 25 GAAP AND NON-GAAP FINANCIAL MEASURES Page 52
Utility Consolidating Balance Sheet Pages 26 – 27
Utility Selected Annual Financial Metrics Pages 28 – 30 REG G RECONCILIATIONS
Financial Measures Pages 53 – 66
INVESTOR INFORMATION Page 67
ABOUT THIS PUBLICATION • variations in weather and the occurrence of hurricanes and other storms and disasters,
This publication is unaudited and should be used in conjunction with Entergy’s 2019 including uncertainties associated with efforts to remediate the effects of hurricanes, ice
Annual Report to Shareholders and Form 10-K filed with the Securities and Exchange storms, or other weather events and the recovery of costs associated with restoration,
Commission. It has been prepared for information purposes and is not intended for use including accessing funded storm reserves, federal and local cost recovery mechanisms,
in connection with any sale or purchase of, or any offer to buy, any securities of Entergy securitization, and insurance, as well as any related unplanned outages;
Corporation or its subsidiaries. • the risk that an incident at any nuclear generation facility in the U.S. could lead to the
assessment of significant retrospective assessments and/or retrospective insurance
FORWARD-LOOKING INFORMATION premiums as a result of Entergy’s participation in a secondary financial protection
In this report and from time to time, Entergy Corporation makes statements concerning system, a utility industry mutual insurance company, and industry self- insurance
its expectations, beliefs, plans, objectives, goals, strategies, and future events or programs;
performance. Such statements are “forward-looking statements” within the meaning of • effects of climate change, including the potential for increases in extreme weather
the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” events and sea levels or coastal land and wetland loss;
“could,” “project,” “believe,” “anticipate,” “intend,” “expect,” “estimate,” “continue,” • changes in the quality and availability of water supplies and the related regulation of
“potential,” “plan,” “predict,” “forecast,” and other similar words or expressions are water use and diversion;
intended to identify forward-looking statements but are not the only means to identify • Entergy’s ability to manage its capital projects, including completion of projects timely
these statements. Although Entergy believes that these forward-looking statements and and within budget and to obtain the anticipated performance or other benefits, and its
the underlying assumptions are reasonable, it cannot provide assurance that they will operation and maintenance costs;
prove correct. Any forward-looking statement is based on information current as of the • Entergy’s ability to purchase and sell assets at attractive prices and on other attractive
date of this report and speaks only as of the date on which such statement is made. terms;
Except to the extent required by the federal securities laws, Entergy undertakes no • the economic climate, and particularly economic conditions in Entergy’s Utility service
obligation to publicly update or revise any forward-looking statements, whether as a area and the northern United States and events and circumstances that could influence
result of new information, future events, or otherwise. economic conditions in those areas, including power prices, and the risk that anticipated
Forward-looking statements involve a number of risks and uncertainties. There are load growth may not materialize;
factors that could cause actual results to differ materially from those expressed or • federal income tax reform, including the Tax Cuts and Jobs Act and its intended and
implied in the forward-looking statements, including those factors discussed or unintended consequences on financial results and future cash flows;
incorporated by reference in (a) Item 1A. Risk Factors contained in the Form 10-K for • the effects of Entergy’s strategies to reduce tax payments;
the year ended Dec. 31, 2019, (b) those factors discussed or incorporated by reference • changes in the financial markets and regulatory requirements for the issuance of
in Management’s Financial Discussion and Analysis contained in the Form 10-K for the securities, particularly as they affect access to capital and Entergy’s ability to refinance
year ended Dec. 31, 2019, and (c) the following factors (in addition to others described existing securities, execute share repurchase programs, and fund investments and
elsewhere in this report and in subsequent securities filings): acquisitions;
• resolution of pending and future rate cases, formula rate proceedings and related • actions of rating agencies, including changes in the ratings of debt and preferred
negotiations, including various performance-based rate discussions, Entergy’s utility stock, changes in general corporate ratings, and changes in the rating agencies’ ratings
supply plan, and recovery of fuel and purchased power costs; criteria;
• continuing long-term risks and uncertainties associated with the termination of the • changes in inflation and interest rates;
System Agreement in 2016, including the potential absence of federal authority to • the effects of litigation and government investigations or proceedings;
resolve certain issues among the Utility operating companies and their retail regulators; • changes in technology, including (i) Entergy’s ability to implement new or emerging
• regulatory and operating challenges and uncertainties and economic risks associated technologies, (ii) the impact of changes relating to new, developing, or alternative
with the Utility operating companies’ participation in MISO, including the benefits of sources of generation such as distributed energy and energy storage, renewable energy,
continued MISO participation, the effect of current or projected MISO market rules and energy efficiency, demand side management and other measures that reduce load and
market and system conditions in the MISO markets, the allocation of MISO system government policies incentivizing development of the foregoing, and (iii) competition from
transmission upgrade costs, the MISO-wide base rate of return on equity allowed or other companies offering products and services to Entergy’s customers based on new or
any MISO-related charges and credits required by the FERC, and the effect of planning emerging technologies or alternative sources of generation;
decisions that MISO makes with respect to future transmission investments by the • the effects, including increased security costs, of threatened or actual terrorism,
Utility operating companies; cyber-attacks or data security breaches, natural or man-made electromagnetic pulses
• changes in utility regulation, including with respect to retail and wholesale competition, that affect transmission or generation infrastructure, accidents, and war or a catastrophic
the ability to recover net utility assets and other potential stranded costs, and the event such as a nuclear accident or a natural gas pipeline explosion;
application of more stringent return on equity criteria, transmission reliability • the effects of a global event or pandemic, such as the COVID-19 global pandemic,
requirements or market power criteria by the FERC or the U.S. Department of Justice; including economic and societal disruptions; volatility in the capital markets (and any
• changes in the regulation or regulatory oversight of Entergy’s nuclear generating related increased cost of capital or any inability to access the capital markets or draw
facilities and nuclear materials and fuel, including with respect to the planned or actual on available bank credit facilities); reduced demand for electricity, particularly from
shutdown and sale of each of the nuclear generating facilities owned or operated by commercial and industrial customers; increased or unrecoverable costs; supply chain,
Entergy Wholesale Commodities, and the effects of new or existing safety or vendor, and contractor disruptions; delays in completion of capital or other construction
environmental concerns regarding nuclear power plants and nuclear fuel; projects, maintenance, and other operations activities, including prolonged outages;
• resolution of pending or future applications, and related regulatory proceedings and impacts to Entergy’s workforce availability, health, or safety; increased cybersecurity
litigation, for license modifications or other authorizations required of nuclear generating risks as a result of many employees telecommuting; increased late or uncollectible
facilities and the effect of public and political opposition on these applications, regulatory customer payments; regulatory delays; executive orders affecting, or increased
proceedings, and litigation; regulation of, our business; changes in credit ratings or outlooks as a result of any of the
• the performance of and deliverability of power from Entergy’s generation resources, foregoing; or other adverse impacts on Entergy’s ability to execute on its business
including the capacity factors at Entergy’s nuclear generating facilities; strategies and initiatives or, more generally, on Entergy’s results of operations, financial
• increases in costs and capital expenditures that could result from changing regulatory condition, and liquidity;
requirements, emerging operating and industry issues, and the commitment of • Entergy’s ability to attract and retain talented management, directors, and employees
substantial human and capital resources required for the safe and reliable operation and with specialized skills;
maintenance of Entergy’s nuclear generating facilities; • Entergy’s ability to attract, retain and manage an appropriately qualified workforce;
• Entergy’s ability to develop and execute on a point of view regarding future prices of • changes in accounting standards and corporate governance;
electricity, natural gas, and other energy-related commodities; • declines in the market prices of marketable securities and resulting funding
• prices for power generated by Entergy’s merchant generating facilities and the ability requirements and the effects on benefits costs for Entergy’s defined benefit pension
to hedge, meet credit support requirements for hedges, sell power forward or otherwise and other postretirement benefit plans;
reduce the market price risk associated with those facilities, including the Entergy • future wage and employee benefit costs, including changes in discount rates and
Wholesale Commodities nuclear plants, especially in light of the planned shutdown and returns on benefit plan assets;
sale of each of these nuclear plants; • changes in decommissioning trust fund values or earnings or in the timing of,
• the prices and availability of fuel and power Entergy must purchase for its Utility requirements for, or cost to decommission Entergy’s nuclear plant sites and the
customers, and Entergy’s ability to meet credit support requirements for fuel and power implementation of decommissioning of such sites following shutdown;
supply contracts; • the decision to cease merchant power generation at all Entergy Wholesale
• volatility and changes in markets for electricity, natural gas, uranium, emissions Commodities nuclear power plants by mid-2022, including the implementation of the
allowances, and other energy-related commodities, and the effect of those changes on planned shutdowns and sales of Indian Point 2, Indian Point 3, and Palisades;
Entergy and its customers; • the effectiveness of Entergy’s risk management policies and procedures and the
• changes in law resulting from federal or state energy legislation or legislation ability and willingness of its counterparties to satisfy their financial and performance
subjecting energy derivatives used in hedging and risk management transactions to commitments;
governmental regulation; • the potential for the factors listed herein to lead to the impairment of long-lived assets;
• changes in environmental laws and regulations, agency positions or associated and
litigation, including requirements for reduced emissions of sulfur dioxide, nitrogen oxide, • Entergy and its subsidiaries 'ability to successfully execute on their business
greenhouse gases, mercury, particulate matter and other regulated air emissions, heat strategies, including their ability to complete strategic transactions that Entergy may
and other regulated discharges to water, requirements for waste management and undertake.
disposal and for the remediation of contaminated sites, wetlands protection and
permitting, and changes in costs of compliance with environmental laws and regulations; REGULATION G COMPLIANCE
• changes in laws and regulations, agency positions, or associated litigation related to Financial performance measures shown in this report include those calculated and
protected species and associated critical habitat designations; presented in accordance with generally accepted accounting principles (GAAP), as well
• the effects of changes in federal, state, or local laws and regulations, and other as those that are considered non-GAAP measures. This report includes non-GAAP
governmental actions or policies, including changes in monetary, fiscal, tax, measures of adjusted earnings; adjusted EPS; adjustments; adjusted EBITDA; adjusted
environmental, trade/tariff, domestic purchase requirements, or energy policies; common dividend payout ratio; adjusted ROIC; adjusted ROE; gross liquidity; adjusted
• the effects of full or partial shutdowns of the federal government or delays in obtaining return on average member's equity; adjusted net revenue; adjusted non-fuel O&M; total
government or regulatory actions or decisions; debt, excluding securitization debt; debt to capital, excluding securitization debt; net
• uncertainty regarding the establishment of interim or permanent sites for spent nuclear debt to net capital, excluding securitization debt; parent debt to total debt, excluding
fuel and nuclear waste storage and disposal and the level of spent fuel and nuclear securitization debt; FFO; FFO to debt, excluding securitization debt; FFO to debt
waste disposal fees charged by the U.S. government or other providers related to such excluding securitization debt, return of unprotected excess ADIT, and severance, and
sites; retention payments associated with exit of EWC. We have prepared reconciliations of
these measures to the most directly comparable GAAP measures. Reconciliations can
be found on pages 7, 10, and 53 – 66.
ENTERGY AT A GLANCE
VISION, MISSION AND STAKEHOLDER OBJECTIVES
We power life. This is our vision. It goes much further than powering the grid. Together, we are on a journey with our stakeholders to improve lives, build businesses and create prosperity.
We exist to grow a world-class energy business that creates sustainable value for our four key stakeholders – our customers, our employees, our communities, and our owners.
• For our customers, we create value by delivering top-quartile customer experience. We work directly with customers to anticipate their needs and exceed their expectations while also keeping rates reasonable.
• For our employees, we create value by advocating for our employees to live safe, all day, every day. We strive to earn top-quartile organizational health scores. We provide a rewarding, engaging, diverse, and inclusive work environment with fair compensation and benefits while also providing opportunities for career advancement.
• For our communities, we create value by achieving top-decile corporate social responsibility performance. We are active in economic development, philanthropy, volunteerism, and advocacy, and we operate our business safely and in a socially and environmentally responsible way.
• For our owners, we create value by delivering top-quartile total shareholder returns. We are relentless in our pursuit of opportunities to optimize our business.
BUSINESS STRATEGY
Our strategy to achieve our stakeholder objectives has two key aspects. First, we invest in the utility for the benefit of our customers, which supports steady, predictable growth in earnings and dividends. Second, we manage risk by ensuring our utility investments are customer-centric, supported by progressive regulatory constructs, and executed with disciplined project management.
ENTERGY BY THE NUMBERS
GAAP Revenues $10.9 billion
GAAP Net Income $1.2 billion
Total Assets $51.7 billion
Utility Retail Electric Customers 2.9 million
Interconnected High-Voltage Transmission Lines 16,000 circuit miles
Distribution Lines 105,000 circuit miles
Utility Billed Retail Electric Energy Sales 129,121 GWh
EWC Billed Electric Energy Sales 28,088 GWh
Employees at Year-end 13,635
Total Owned and Leased Generating Capability by Fuel Source in MW:
CCGT/CT 8,330
Nuclear 8,087
Legacy Gas 7,011
Coal 2,401
Hydro/Solar 75
ENTERGY AT A GLANCE
OPERATIONS
UTILITY
The Utility business segment includes the generation, transmission, ENTERGY WHOLESALE COMMODITIES (EWC)
distribution, and sale of electric power, and operation of a small natural gas Entergy has announced the sale and closure of the EWC nuclear assets, completing
distribution business. its plan to exit the merchant power business and transition to a pure-play utility.
• Five retail electric utilities with 2.9 million customers
• Four states – Arkansas, Louisiana, Mississippi, Texas The EWC business segment includes the ownership, operation, and decommissioning
• 22,630 MW generating capability of nuclear power plants located in the northern United States and the sale of the electric
• Two gas utilities with 202,000 customers power produced by its operating plants to wholesale customers. EWC also provides
services to other nuclear power plant owners and owns interest in non-nuclear power
ENTERGY ARKANSAS, LLC (E-AR) plants that sell the electric power produced by those plants to wholesale customers.
Entergy Arkansas generates, transmits, distributes, and sells electric
power to 715,000 retail customers in Arkansas. • 2,880 MW nuclear-owned generating capacity in three units in northern U.S.
• Indian Point Energy Center Units 2 and 3 in Buchanan, New York
ENTERGY LOUISIANA, LLC (E-LA) • Palisades Nuclear Plant in Covert, Michigan
Entergy Louisiana generates, transmits, distributes, and sells electric • 394 net owned MW non-nuclear generating capacity
power to 1,091,000 retail customers in Louisiana. Entergy • 800 MW under management support services contract
Louisiana also provides natural gas utility service to 94,000 customers in • Cooper Nuclear Station located near Brownville, Nebraska
the Baton Rouge, Louisiana area.
James A. FitzPatrick Nuclear Power Plant was sold on March 31, 2017. Vermont Yankee
ENTERGY MISSISSIPPI, LLC (E-MS) Nuclear Power Station was sold on January 11, 2019. Pilgrim Nuclear Power Station
Entergy Mississippi generates, transmits, distributes, and sells electric was sold on August 26, 2019. Entergy plans to close Indian Point 2 on April 30, 2020,
power to 451,000 retail customers in Mississippi. Indian Point 3 on April 30, 2021, and Palisades on May 31, 2022.
ENTERGY NEW ORLEANS, LLC (E-NO)
Entergy New Orleans generates, transmits, distributes, and sells
electric power to 205,000 retail customers in the city of New Orleans,
Louisiana. Entergy New Orleans also provides natural gas utility
service to 108,000 customers in the city of New Orleans.
ENTERGY TEXAS, INC. (E-TX)
Entergy Texas generates, transmits, distributes, and sells electric power
to 461,000 retail customers in Texas.
SYSTEM ENERGY RESOURCES, INC. (SERI)
System Energy owns or leases 90% of the Grand Gulf 1 nuclear
generating facility. System Energy sells its power and capacity from
Grand Gulf 1 at wholesale to Entergy Arkansas (36%), Entergy Louisiana (14%),
Entergy Mississippi (33%) and Entergy New Orleans (17%).
UTILITY NUCLEAR PLANTS
Entergy owns and operates five nuclear units at four plant sites to serve
its regulated utility business: Arkansas Nuclear One (ANO) Units 1 and 2
near Russellville, Arkansas; Grand Gulf Nuclear Station Unit 1 in Port Gibson,
Mississippi; River Bend Station in St. Francisville, Louisiana and
Waterford Steam Electric Station Unit 3 in Killona, Louisiana.
SELECTED FINANCIAL AND OPERATING DATA
SELECTED FINANCIAL DATA
2019 2018 2017
GAAP MEASURES
Operating Revenues ($ millions) 10,879 11,009 11,074
As-Reported Net Income (Loss) Attributable to Entergy Corporation ($ millions) 1,241 849 412
As-Reported Earnings Per Share ($) 6.3 4.63 2.28
Common Dividend Paid Per Share ($) 3.66 3.58 3.50
Common Dividend Payout Ratio – As-Reported (%) 58 77 154
NON-GAAP MEASURES
Adjusted Earnings ($ millions) 1,064 970 715
Adjusted Earnings Per Share ($) 5.40 5.29 3.96
Adjustments ($ millions) 177 (121 ) (303 )
Adjustments Per Share ($) 0.9 (0.66 ) (1.68 )
Common Dividend Payout Ratio – Adjusted (%) 68 68 88
UTILITY ELECTRIC OPERATING DATA
2019 2018 2017
Retail Kilowatt-Hour Sales (millions) 129,121 117,498 112,859
Peak Demand (megawatts) 21,598 21,587 21,671
Retail Customers – Year End (thousands) 2,923 2,901 2,884
ENTERGY WHOLESALE COMMODITIES OPERATING DATA
2019 2018 2017
Billed Electric Energy Sales (gigawatt hours) 28,088 29,875 30,501
EMPLOYEES
2019 2018 2017
Total Employees – Year End 13,635 13,688 13,504
OWNED AND LEASED CAPABILITY (MW)(a)
--- --- --- --- --- --- --- --- ---
As of December 31, 2019
E-AR E-LA E-MS E-NO E-TX SERI EWC(b)(c)(d) Total
Gas/Oil 2,106 7,556 2,923 507 2,034 — 213 15,339
Coal 1,194 350 417 — 259 — 181 2,401
Total Fossil 3,300 7,906 3,340 507 2,293 — 394 17,740
Nuclear 1,810 2,144 — — — 1,254 2,880 8,088
Hydro 73 — — — — — — 73
Solar — — 2 1 — — — 3
Total 5,183 10,050 3,342 508 2,293 1,254 3,274 25,904
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based
on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Nuclear reflects Net MW in Operation. Net MW in Operation is the installed capacity owned and operated. Excludes management
services contract for Cooper Nuclear Station.
(c) Fossil reflects nameplate rating of generating unit and excludes capacity under contract.
(d) The owned MW capacity for coal is the portion of the plant capacity owned by Entergy Wholesale Commodities.
CONSOLIDATED ENTERGY CORPORATION AND SUBSIDIARIES DATA
CONSOLIDATED QUARTERLY FINANCIAL METRICS
2018 FY
2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY CHANGE
GAAP MEASURES
ROIC – as-reported (%)(a) 5.5 4.8 6.3 6.3 3.9 3.2 3.7 5.3 5.3 1.0
ROE – as-reported (%)(a) 10.8 8.6 13.0 13.0 5.8 3.6 5.1 10.1 10.1 2.9
Cash and cash equivalents ( millions) 636 956 426 426 1,206 813 988 481 481 (55 )
Revolver capacity ( millions) 4,120 4,115 3,810 3,810 3,010 3,885 3,653 4,056 4,056 (246 )
Commercial paper ( millions) 1,635 1,918 1,947 1,947 655 1,945 1,947 1,942 1,942 5
Total debt ( millions) 19,054 19,441 19,885 19,885 17,680 17,881 18,485 18,133 18,133 1,752
Securitization debt ( millions) 360 338 298 298 520 483 463 424 424 (126 )
Debt to capital (%) 65.5 65.4 65.5 65.5 68.4 68.5 68.2 66.7 66.7 (1.2 )
Off-balance sheet liabilities ( millions)
Debt of joint ventures – Entergy’s share 58 56 54 54 66 64 62 61 61 (7 )
Leases – Entergy’s share — — — — 429 429 429 448 448 (448 )
Power purchase agreements accounted for as leases(b) — — — — 136 136 136 106 106 (106 )
Total off-balance sheet liabilities 58 56 54 54 631 629 627 615 615 (561 )
NON-GAAP MEASURES
ROIC – adjusted (%)(a) 5.5 5.6 5.6 5.6 5.0 5.2 5.5 5.7 5.7 (0.1 )
ROE – adjusted (%)(a) 11.0 11.4 11.2 11.2 9.4 10.1 10.7 11.5 11.5 (0.3 )
Gross liquidity ( millions) 4,756 5,071 4,236 4,236 4,216 4,698 4,641 4,537 4,537 (301 )
Debt to capital,      excluding securitization debt (%) 65.1 65.0 65.1 65.1 67.7 67.9 67.7 66.1 66.1 (1.0 )
Net debt to net capital,     excluding securitization debt (%) 64.3 63.8 64.6 64.6 66.1 66.9 66.4 65.5 65.5 (0.9 )
Parent debt to total debt,      excluding securitization debt (%) 19.4 20.5 21.6 21.6 21.1 24.1 24.5 22.6 22.6 (1.0 )
FFO to debt,      excluding securitization debt (%) 11.8 14.2 14.6 14.6 14.8 15.4 13.1 11.7 11.7 2.9
FFO to debt,      excluding securitization debt, return of      unprotected excess ADIT, and severance and     retention payments associated with exit of EWC (%) 15.8 17.6 16.8 16.8 15.3 15.9 15.0 15.3 15.3 1.5
Totals may not foot due to rounding.
(a) Rolling twelve months.
(b) For further detail, see Note 10 on page 159 of the 2019 SEC Form 10-K.

All values are in US Dollars.

CONSOLIDATED ANNUAL FINANCIAL METRICS
2018 2017
GAAP MEASURES
ROIC – as-reported (%) 5.3 3.4
ROE – as-reported (%) 10.1 5.1
Cash and cash equivalents ( millions) 481 781
Revolver capacity ( millions) 4,056 4,174
Commercial paper ( millions) 1,942 1,467
Total debt ( millions) 18,133 16,677
Securitization debt ( millions) 424 545
Debt to capital (%) 66.7 67.1
Off-balance sheet liabilities ( millions)
Debt of joint ventures – Entergy’s share 61 67
Leases – Entergy’s share 448 429
Power purchase agreements accounted for as leases(a) 106 136
Total off-balance sheet liabilities 615 632
NON-GAAP MEASURES
ROIC – adjusted (%) 5.7 4.6
ROE – adjusted (%) 11.5 8.9
Gross liquidity ( millions) 4,537 4,955
Debt to capital, excluding securitization debt (%) 66.1 66.3
Net debt to net capital, excluding securitization debt (%) 65.5 65.2
Parent debt to total debt, excluding securitization debt (%) 22.6 21.8
FFO to debt, excluding securitization debt (%) 11.7 15.1
FFO to debt, excluding securitization debt, return ofunprotected excess ADIT, and severance and retentionpayments associated with exit of EWC (%) 15.3 15.7
Totals may not foot due to rounding.
(a) For further detail, see Note 10 on page 159 of the 2019 SEC Form 10-K.

All values are in US Dollars.

FINANCIAL RESULTS
ENTERGY CORPORATION CONSOLIDATED QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION
2018 FY
(After-tax, in millions) 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY CHANGE
AS-REPORTED EARNINGS (LOSS)
Utility 331 578 271 1,411 215 376 505 388 1,483 (73 )
Parent & Other ) (69 ) (72 ) (103 ) (316 ) (64 ) (73 ) (73 ) (81 ) (292 ) (24 )
Entergy Wholesale Commodities (26 ) (141 ) 217 147 (18 ) (57 ) 105 (373 ) (343 ) 490
CONSOLIDATED AS-REPORTED EARNINGS (LOSS) 236 365 385 1,241 133 245 536 (66 ) 849 393
LESS ADJUSTMENTS
Utility — — 41 41 — 43 — 179 222 (180 )
Parent & Other — — (11 ) (11 ) — — — — — (11 )
Entergy Wholesale Commodities (26 ) (141 ) 217 147 (18 ) (57 ) 105 (373 ) (343 ) 490
TOTAL ADJUSTMENTS (26 ) (141 ) 248 177 (18 ) (14 ) 105 (194 ) (121 ) 298
ADJUSTED EARNINGS (LOSS)
Utility 331 578 229 1,369 215 333 505 209 1,262 108
Parent & Other ) (69 ) (72 ) (92 ) (305 ) (64 ) (73 ) (73 ) (81 ) (291 ) (14 )
Entergy Wholesale Commodities — — — — — — — — — —
CONSOLIDATED ADJUSTED EARNINGS (LOSS) 262 506 137 1,064 151 259 431 128 970 94
Weather Impact ) 12 13 45 46 16 21 5 25 67 (21 )
SHARES OF COMMON STOCK OUTSTANDING
( millions)
End of period 199 199 199 199 181 181 181 189 189 10
Weighted average - diluted 194 200 201 197 181 183 184 183 183 14
2018 FY
(After-tax, per share in ) (a) 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY CHANGE
AS-REPORTED EARNINGS (LOSS)
Utility 1.70 2.88 1.35 7.16 1.19 2.05 2.75 2.12 8.09 (0.93 )
Parent & Other ) (0.35 ) (0.36 ) (0.51 ) (1.60 ) (0.36 ) (0.40 ) (0.40 ) (0.44 ) (1.59 ) (0.01 )
Entergy Wholesale Commodities (0.13 ) (0.70 ) 1.08 0.74 (0.10 ) (0.31 ) 0.57 (2.04 ) (1.87 ) 2.61
CONSOLIDATED AS-REPORTED EARNINGS (LOSS) 1.22 1.82 1.92 6.30 0.73 1.34 2.92 (0.36 ) 4.63 1.67
LESS ADJUSTMENTS
Utility — — 0.21 0.21 — 0.23 — 0.98 1.21 (1.00 )
Parent & Other — — (0.05 ) (0.05 ) — — — — — (0.05 )
Entergy Wholesale Commodities (0.13 ) (0.70 ) 1.08 0.74 (0.10 ) (0.31 ) 0.57 (2.04 ) (1.87 ) 2.61
TOTAL ADJUSTMENTS (0.13 ) (0.70 ) 1.24 0.90 (0.10 ) (0.08 ) 0.57 (1.06 ) (0.66 ) 1.56
ADJUSTED EARNINGS (LOSS)
Utility 1.70 2.88 1.14 6.95 1.19 1.82 2.75 1.14 6.88 0.07
Parent & Other ) (0.35 ) (0.36 ) (0.46 ) (1.55 ) (0.36 ) (0.40 ) (0.40 ) (0.44 ) (1.59 ) 0.04
Entergy Wholesale Commodities — — — — — — — — — —
CONSOLIDATED ADJUSTED EARNINGS (LOSS) 1.35 2.52 0.68 5.40 0.83 1.42 2.35 0.71 5.29 0.11
Weather Impact ) 0.06 0.06 0.22 0.23 0.09 0.11 0.03 0.13 0.37 (0.14 )
Totals may not foot due to rounding.
(a) Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period.

All values are in US Dollars.

FINANCIAL RESULTS
ENTERGY CORPORATION CONSOLIDATED QUARTERLY ADJUSTMENTS - BY ITEM TYPE
Shown as Positive/(Negative) Impact on Earnings
2019 2018 FY
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY CHANGE
UTILITY ADJUSTMENTS
Customer sharing associated with internal restructuring — — — — — ` — — (40 ) (40 ) 40
Income tax effect on Utility adjustments above (a) — — — — — — — — 10 10 (10 )
2012 / 2013 IRS audit settlement — — — — — — 43 — — 43 (43 )
Internal restructuring — — — — — — — — 170 170 (170 )
Tax reform — — — — — — — — 38 38 (38 )
Reversal of income tax valuation allowance — — — 41 41 — — — — — 41
Total — — — 41 41 — 43 — 179 222 (180 )
PARENT & OTHER ADJUSTMENTS
Income tax item related to valuation allowance for interest deductibility — — — (11 ) (11 ) — — — — — (11 )
Total — — — (11 ) (11 ) — — — — — (11 )
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Income before income taxes 163 (35 ) (171 ) 31 (12 ) (19 ) (86 ) (30 ) (474 ) (610 ) 597
Income taxes (66 ) 9 31 187 161 1 30 136 102 269 (108 )
Preferred dividend requirements 1 (1 ) (1 ) (1 ) (2 ) (1 ) (1 ) (1 ) (1 ) (2 ) —
Total 97 (26 ) (141 ) 217 147 (18 ) (57 ) 105 (373 ) (343 ) 490
TOTAL ADJUSTMENTS 97 (26 ) (141 ) 248 177 (18 ) (14 ) 105 (194 ) (121 ) 298
2019 2018 FY
(After-tax, per share in $) (b) 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY CHANGE
UTILITY ADJUSTMENTS
2012 / 2013 IRS audit settlement — — — — — — 0.23 — — 0.23 (0.23 )
Internal restructuring — — — — — — — — 0.93 0.93 (0.93 )
Customer sharing associated with internal restructuring — — — — — — — — (0.16 ) (0.16 ) 0.16
Tax reform — — — — — — — — 0.21 0.21 (0.21 )
Reversal of income tax valuation allowance — — — 0.21 0.21 — — — — — 0.21
Total — — — 0.21 0.21 — 0.23 — 0.98 1.21 (1.00 )
PARENT & OTHER ADJUSTMENTS
Income tax item related to valuation allowance for interest deductibility — — — (0.05 ) (0.50 ) — — — — — (0.05 )
Total — — — (0.05 ) (0.50 ) — — — — — (0.05 )
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Total 0.50 (0.13 ) (0.70 ) 1.08 0.74 (0.10 ) (0.31 ) 0.57 (2.04 ) (1.87 ) 2.61
TOTAL ADJUSTMENTS 0.50 (0.13 ) (0.70 ) 1.24 0.90 (0.10 ) (0.08 ) 0.57 (1.06 ) (0.66 ) 1.56
Totals may not foot due to rounding.
(a) Income tax effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply.
(b) EPS effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply to each adjustment and then dividing by
the diluted average number of common shares outstanding for the period.
FINANCIAL RESULTS
ENTERGY CORPORATION CONSOLIDATED QUARTERLY ADJUSTMENTS - BY INCOME STATEMENT LINE ITEM
Shown as Positive/(Negative) Impact on Earnings
2019 2018 FY
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY CHANGE
UTILITY ADJUSTMENTS
Other regulatory charges — — — — — — — — (40 ) (40 ) 40
Income taxes (a) — — — 41 41 — 43 — 219 261 (220 )
Total — — — 41 41 — 43 — 179 222 (180 )
PARENT & OTHER ADJUSTMENTS
Income taxes (a) — — — (11 ) (11 ) — — — — — (11 )
Total — — — (11 ) (11 ) — — — — — (11 )
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Operating revenues 434 290 300 271 1,295 419 309 380 361 1,469 (174 )
Fuel and fuel-related expenses (25 ) (26 ) (26 ) (22 ) (98 ) (20 ) (19 ) (19 ) (19 ) (77 ) (21 )
Purchased power (16 ) (15 ) (18 ) (10 ) (59 ) (17 ) (18 ) (20 ) (61 ) (115 ) 57
Nuclear refueling outage expense (12 ) (12 ) (12 ) (12 ) (49 ) (2 ) (1 ) — (1 ) (4 ) (45 )
Other O&M (189 ) (188 ) (136 ) (165 ) (678 ) (191 ) (200 ) (209 ) (208 ) (808 ) 130
Asset write-offs and impairments (74 ) (16 ) (198 ) (2 ) (290 ) (73 ) (69 ) (155 ) (235 ) (532 ) 242
Decommissioning expense (63 ) (64 ) (60 ) (49 ) (237 ) (58 ) (60 ) (56 ) (64 ) (239 ) 2
Taxes other than income taxes (13 ) (20 ) (13 ) (15 ) (60 ) (16 ) (22 ) (19 ) (21 ) (78 ) 18
Depreciation/amortization expense (38 ) (38 ) (38 ) (34 ) (148 ) (38 ) (39 ) (40 ) (34 ) (150 ) 2
Other income (deductions) - other 169 64 34 74 340 (14 ) 40 116 (185 ) (42 ) 382
Interest expense and other charges (9 ) (9 ) (6 ) (5 ) (29 ) (8 ) (8 ) (9 ) (8 ) (34 ) 5
Income taxes (66 ) 9 31 187 161 1 30 136 102 269 (108 )
Preferred dividend requirements (1 ) (1 ) (1 ) (1 ) (2 ) (1 ) (1 ) (1 ) (1 ) (2 ) —
Total 97 (26 ) (141 ) 217 147 (18 ) (57 ) 105 (373 ) (343 ) 490
TOTAL ADJUSTMENTS (after-tax) 97 (26 ) (141 ) 248 177 (18 ) (14 ) 105 (194 ) (121 ) 298
Totals may not foot due to rounding.
(a) Income taxes represents the income tax effect of the adjustments which were calculated using the estimated income tax rate that is expected to apply to each item, as well as tax adjustments as a result of tax reform.
FINANCIAL RESULTS
ENTERGY CORPORATION CONSOLIDATED ANNUAL RESULTS – GAAP TO NON-GAAP RECONCILIATION
(After-tax, in millions) 2018 2017
AS-REPORTED EARNINGS (LOSS)
Utility 1,483 762
Parent & Other ) (292 ) (175 )
Entergy Wholesale Commodities (343 ) (175 )
CONSOLIDATED AS-REPORTED EARNINGS 849 412
LESS ADJUSTMENTS
Utility 222 (181 )
Parent & Other ) — 52
Entergy Wholesale Commodities (343 ) (175 )
TOTAL ADJUSTMENTS (121 ) (304 )
ADJUSTED EARNINGS (LOSS)
Utility 1,261 943
Parent & Other ) (292 ) (227 )
Entergy Wholesale Commodities — —
ENTERGY ADJUSTED EARNINGS 970 716
Weather Impact 67 (79 )
SHARES OF COMMON STOCK OUTSTANDING
( millions)
End of period 189 181
Weighted average - diluted 183 181
(After-tax, per share in ) (a) 2018 2017
AS-REPORTED EARNINGS (LOSS)
Utility 8.09 4.22
Parent & Other ) (1.59 ) (0.97 )
Entergy Wholesale Commodities (1.87 ) (0.97 )
CONSOLIDATED AS-REPORTED EARNINGS 4.63 2.28
LESS ADJUSTMENTS
Utility 1.21 (1.00 )
Parent & Other ) — 0.29
Entergy Wholesale Commodities (1.87 ) (0.97 )
TOTAL ADJUSTMENTS (0.66 ) (1.68 )
ADJUSTED EARNINGS (LOSS)
Utility 6.88 5.22
Parent & Other ) (1.59 ) (1.26 )
Entergy Wholesale Commodities — —
ENTERGY ADJUSTED EARNINGS 5.29 3.96
Weather Impact 0.37 (0.44 )
Totals may not foot due to rounding.
(a) Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period.

All values are in US Dollars.

FINANCIAL RESULTS
ENTERGY CORPORATION CONSOLIDATED ANNUAL ADJUSTMENTS - BY ITEM TYPE
Shown as Positive/(Negative) Impact on Earnings
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) 2019 2018 2017
UTILITY ADJUSTMENTS
Customer sharing associated with internal restructuring — (40 ) —
Customer sharing associated with tax reform — — 56
Customer sharing associated with IRS audit items — — —
Income tax effect on Utility adjustments above (a) — 10 (14 )
2012 / 2013 IRS audit settlement — 43 —
Internal restructuring — 170 —
Tax reform — 38 (222 )
IRS audit items — — —
Reversal of income tax valuation allowance 41 — —
Total 41 222 (181 )
PARENT & OTHER ADJUSTMENTS
Tax reform — — 52
Income tax item related to a valuation allowance for interest deductibility (11 ) — —
Total (11 ) — 52
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Income before income taxes (12 ) (610 ) (319 )
Income taxes 161 269 146
Preferred dividend requirements (2 ) (2 ) (2 )
Total 147 (343 ) (175 )
TOTAL ADJUSTMENTS 177 (121 ) (304 )
(After-tax, per share in $) (b) 2019 2018 2017
UTILITY ADJUSTMENTS
2012 / 2013 IRS audit settlement — 0.23 —
Internal restructuring — 0.93 —
Customer sharing associated with internal restructuring — (0.16 ) —
Tax reform — 0.21 (1.23 )
Customer sharing associated with tax reform — — 0.23
IRS audit items — — —
Customer sharing associated with IRS audit items — — —
Reversal of income tax valuation allowance 0.21 — —
Total 0.21 1.21 (1.00 )
PARENT & OTHER ADJUSTMENTS
Tax reform — — 0.29
Income tax item related to a valuation allowance for interest deductibility (0.05 ) — —
Total (0.05 ) — 0.29
TOTAL ADJUSTMENTS 0.90 (0.66 ) (1.68 )
Totals may not foot due to rounding.
(a) Income tax effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply.
(b) EPS effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply to each
adjustment and then dividing by the diluted average number of common shares outstanding for the period.
FINANCIAL RESULTS
ENTERGY CORPORATION CONSOLIDATED ANNUAL ADJUSTMENTS - BY INCOME STATEMENT LINE ITEM
Shown as Positive/(Negative) Impact on Earnings
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) 2019 2018 2017
UTILITY ADJUSTMENTS
Other regulatory charges — (40 ) 56
Income taxes (a) 41 261 (236 )
Total 41 222 (181 )
PARENT & OTHER ADJUSTMENTS
Income taxes (a) (11 ) — 52
Total (11 ) — 52
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Operating revenues 1,295 1,469 1,657
Fuel and fuel-related expenses (98 ) (77 ) (83 )
Purchased power (59 ) (115 ) (105 )
Nuclear refueling outage expense (49 ) (4 ) (14 )
Other O&M (678 ) (808 ) (863 )
Asset write-offs and impairments (290 ) (532 ) (538 )
Decommissioning expense (237 ) (239 ) (255 )
Taxes other than income taxes (60 ) (78 ) (80 )
Depreciation/amortization expense (148 ) (150 ) (193 )
Other income (deductions) - other 340 (42 ) 180
Interest expense and other charges (29 ) (34 ) (24 )
Income taxes 161 269 146
Preferred dividend requirements (2 ) (2 ) (2 )
Total 147 (343 ) (175 )
TOTAL ADJUSTMENTS (after-tax) 177 (121 ) (304 )
Totals may not foot due to rounding.
(a) Income taxes represents the income tax effect of the adjustments which were calculated using the estimated income tax rate that is expected to apply to each item, as well as tax adjustments as a result of tax reform.
(Page left blank intentionally)
FINANCIAL RESULTS
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
In thousands, except share data, for the years ended December 31, 2019 2018 2017
OPERATING REVENUES:
Electric 9,429,978 9,384,111 9,278,895
Natural gas 153,954 156,436 138,856
Competitive businesses 1,294,741 1,468,905 1,656,730
Total 10,878,673 11,009,452 11,074,481
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale 2,029,638 2,147,793 1,991,589
Purchased power 1,192,860 1,658,799 1,427,950
Nuclear refueling outage expenses 204,927 153,826 168,151
Other operation and maintenance 3,272,381 3,346,397 3,306,694
Asset write-offs, impairments, and related charges 290,027 532,321 538,372
Decommissioning 400,802 388,508 405,685
Taxes other than income taxes 643,745 641,952 617,556
Depreciation and amortization 1,480,016 1,369,442 1,389,978
Other regulatory charges (credits) – net (26,220 301,049 (131,901
Total 9,488,176 10,540,087 9,714,074
OPERATING INCOME 1,390,497 469,365 1,360,407
OTHER INCOME:
Allowance for equity funds used during construction 144,974 129,602 95,088
Interest and investment income 547,912 63,864 288,197
Miscellaneous – net (252,539 (129,754 (113,426
Total 440,347 63,712 269,859
INTEREST EXPENSE:
Interest expense 807,382 768,322 707,212
Allowance for borrowed funds used during construction (64,957 (60,974 (44,869
Total 742,425 707,348 662,343
INCOME (LOSS) BEFORE INCOME TAXES 1,088,419 (174,271 967,923
Income taxes (169,825 (1,036,826 542,570
CONSOLIDATED NET INCOME 1,258,244 862,555 425,353
Preferred dividend requirements of subsidiaries 17,018 13,894 13,741
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION 1,241,226 848,661 411,612
Basic earnings per average common share 6.36 4.68 2.29
Diluted earnings per average common share 6.30 4.63 2.28
Basic average number of common shares outstanding 195,195,858 181,409,597 179,671,797
Diluted average number of common shares outstanding 196,999,284 183,378,513 180,535,893

All values are in US Dollars.

FINANCIAL RESULTS
2019 CONSOLIDATING INCOME STATEMENT (unaudited)
ENTERGY
In thousands, except share data, for the year ended December 31, 2019. UTILITY PARENT & OTHER EWC CONSOLIDATED
OPERATING REVENUES:
Electric 9,430,031 ($53 ) — 9,429,978
Natural gas 153,954 — — 153,954
Competitive businesses — 22 1,294,719 1,294,741
Total 9,583,985 (31 ) 1,294,719 10,878,673
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale 1,931,478 (52 ) 98,212 2,029,638
Purchased power 1,134,194 52 58,614 1,192,860
Nuclear refueling outage expenses 156,315 — 48,612 204,927
Other operation and maintenance 2,562,568 32,167 677,646 3,272,381
Asset write-offs, impairments, and related charges — — 290,027 290,027
Decommissioning 164,267 — 236,535 400,802
Taxes other than income taxes 582,811 633 60,301 643,745
Depreciation and amortization 1,328,900 2,944 148,172 1,480,016
Other regulatory charges (credits) - net (26,220 — — (26,220
Total 7,834,313 35,744 1,618,119 9,488,176
OPERATING INCOME (LOSS) 1,749,672 (35,775 ) (323,400 1,390,497
OTHER INCOME:
Allowance for equity funds used during construction 144,974 — — 144,974
Interest and investment income 289,570 (156,294 ) 414,636 547,912
Miscellaneous – net (149,544 (28,784 ) (74,211 (252,539
Total 285,000 (185,078 ) 340,425 440,347
INTEREST EXPENSE:
Interest expense 654,352 123,580 29,450 807,382
Allowance for borrowed funds used during construction (64,957 — — (64,957
Total 589,395 123,580 29,450 742,425
INCOME (LOSS) BEFORE INCOME TAXES 1,445,277 (344,433 ) (12,425 1,088,419
Income taxes 19,634 (28,164 ) (161,295 (169,825
CONSOLIDATED NET INCOME (LOSS) 1,425,643 (316,269 ) 148,870 1,258,244
Preferred dividend requirements of subsidiaries 14,830 — 2,188 17,018
NET INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION 1,410,813 ($316,269 ) 146,682 1,241,226
Basic earnings (loss) per average common share 7.23 ($1.62 ) 0.75 6.36
Diluted earnings (loss) per average common share 7.16 ($1.60 ) 0.74 6.30
Totals may not foot due to rounding.

All values are in US Dollars.

FINANCIAL RESULTS
CONSOLIDATED BALANCE SHEETS (unaudited)
In thousands, as of December 31, 2018 2017
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash 34,242 56,690 56,629
Temporary cash investments 424,285 724,644
Total cash and cash equivalents 480,975 781,273
Accounts receivable:
Customer 558,494 673,347
Allowance for doubtful accounts (7,322 (13,587
Other 167,722 169,377
Accrued unbilled revenues 395,511 383,813
Total accounts receivable 1,114,405 1,212,950
Deferred fuel costs 27,251 95,746
Fuel inventory – at average cost 117,304 182,643
Materials and supplies – at average cost 752,843 723,222
Deferred nuclear refueling outage costs 230,960 133,164
Prepayments and other 234,326 156,333
Total 2,958,064 3,285,331
OTHER PROPERTY AND INVESTMENTS:
Investment in affiliates – at equity — 198
Decommissioning trust funds 6,920,164 7,211,993
Non-utility property – at cost (less accumulated depreciation) 304,382 260,980
Other 437,265 441,862
Total 7,661,811 7,915,033
PROPERTY, PLANT AND EQUIPMENT:
Electric 49,831,486 47,907,914
Natural gas 496,150 453,162
Construction work in progress 2,888,639 1,980,508
Nuclear fuel 861,272 923,200
Total property, plant and equipment 54,077,547 51,264,784
Less – accumulated depreciation and amortization 22,103,101 21,600,424
Property, plant and equipment – net 31,974,446 29,664,360
DEFERRED DEBITS AND OTHER ASSETS:
Regulatory assets:
Other regulatory assets (includes securitization property of
239,219 as of December 31, 2019, 360,790 as of
December 31, 2018 and 485,031 as of December 31, 2017) 4,746,496 4,935,689
Deferred fuel costs 239,496 239,298
Goodwill 377,172 377,172
Accumulated deferred income taxes 54,593 178,204
Other 262,988 112,062
Total 5,680,745 5,842,425
TOTAL ASSETS 51,723,912 48,275,066 46,707,149

All values are in US Dollars.

FINANCIAL RESULTS
CONSOLIDATED BALANCE SHEETS (unaudited)
In thousands, as of December 31, 2018 2017
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Currently maturing long-term debt 795,012 650,009 760,007
Notes payable and commercial paper 1,942,339 1,578,308
Accounts payable 1,496,058 1,452,216
Customer deposits 411,505 401,330
Taxes accrued 254,241 214,967
Interest accrued 193,192 187,972
Deferred fuel costs 52,396 146,522
Pension and other postretirement liabilities 61,240 71,612
Current portion of unprotected excess accumulated deferred income taxes 248,127 —
Other 134,437 223,273
Total 5,443,544 5,036,207
NON-CURRENT LIABILITIES:
Accumulated deferred income taxes and taxes accrued 4,107,152 4,466,503
Accumulated deferred investment tax credits 213,101 219,634
Regulatory liability for income taxes - net 1,817,021 2,900,204
Other regulatory liabilities 1,620,254 1,588,520
Decommissioning and asset retirement cost liabilities 6,355,543 6,185,814
Accumulated provisions 514,107 478,273
Pension and other postretirement liabilities 2,616,085 2,910,654
Long-term debt (includes securitization bonds
of 297,981 as of December 31, 2019, 423,858 as of
December 31, 2018, and 544,921 as of December 31, 2017) 15,518,303 14,315,259
Other 1,006,249 415,763
Total 33,767,815 33,480,624
Commitments and Contingencies
Subsidiaries' preferred stock without sinking fund 219,402 197,803
COMMON EQUITY:
Common stock, .01 par value, authorized 500,000,000
shares; issued 270,035,180 shares in 2019; issued 261,587,009 shares
in 2018; and issued 254,752,788 shares in 2017. 2,616 2,548
Paid-in capital 5,951,431 5,433,433
Retained earnings 8,721,150 7,977,702
Accumulated other comprehensive income (loss) (557,173 (23,531
Less – treasury stock, at cost (70,886,400 shares in 2019,
72,530,866 shares in 2018, and 74,235,135 shares in 2017) 5,273,719 5,397,637
Total common shareholders' equity 8,844,305 7,992,515
Subsidiaries' preferred stock without sinking fund — —
Total 8,844,305 7,992,515
TOTAL LIABILITIES AND EQUITY 51,723,912 48,275,066 46,707,149

All values are in US Dollars.

FINANCIAL RESULTS
2019 CONSOLIDATING BALANCE SHEET (unaudited)
In thousands, as of December 31, 2019 UTILITY PARENT & OTHER EWC
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash 28,010 4,858 1,374 34,242
Temporary cash investments 173,613 10,192 207,675
Total cash and cash equivalents 201,623 15,050 209,049
Notes receivable — (514,116 514,116
Accounts receivable:
Customer 512,228 — 83,281
Allowance for doubtful accounts (7,404 — —
Associated companies 20,481 (25,572 5,091
Other 210,452 817 8,601
Accrued unbilled revenues 400,617 — —
Total accounts receivable 1,136,374 (24,755 96,973
Fuel inventory – at average cost 140,010 — 5,466
Materials and supplies – at average cost 792,192 — 32,797
Deferred nuclear refueling outage costs 120,110 — 37,458
Prepayments and other 171,874 (16,346 128,117
Total 2,562,183 (540,167 1,023,976
OTHER PROPERTY AND INVESTMENTS:
Investment in affiliates – at equity 1,468,991 (1,469,077 86
Decommissioning trust funds 3,719,193 — 2,684,837
Non-utility property – at cost (less accumulated depreciation) 319,504 (5 13,365
Other 492,245 — 4,207
Total 5,999,933 (1,469,082 2,702,495
PROPERTY, PLANT AND EQUIPMENT:
Electric 53,298,795 10,633 962,039
Natural gas 547,110 — —
Construction work in progress 2,813,416 245 9,630
Nuclear fuel 612,900 — 64,281
Total property, plant and equipment 57,272,221 10,878 1,035,950
Less – accumulated depreciation and amortization 22,364,188 2,044 770,124
Property, plant and equipment – net 34,908,033 8,834 265,826
DEFERRED DEBITS AND OTHER ASSETS:
Regulatory assets:
Other regulatory assets (includes securitization property of $239,219 5,292,055 — —
as of December 31, 2019)
Deferred fuel costs 239,892 — —
Goodwill 374,099 — 3,073
Accumulated deferred income taxes 59,425 1,022 4,014
Other 122,044 10,680 155,577
Total 6,087,515 11,702 162,664
TOTAL ASSETS 49,557,664 (1,988,713 4,154,961
Totals may not foot due to rounding.

All values are in US Dollars.

FINANCIAL RESULTS
2019 CONSOLIDATING BALANCE SHEET (unaudited)
ENTERGY
In thousands, as of December 31, 2019 UTILITY PARENT & OTHER EWC CONSOLIDATED
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Currently maturing long-term debt 345,012 450,000 — 795,012
Notes payable and commercial paper:
Other — 1,946,727 — 1,946,727
Accounts payable:
Associated companies 34,378 (48,342 13,964 —
Other 1,303,705 60 196,096 1,499,861
Customer deposits 409,171 — — 409,171
Taxes accrued 261,125 (957 (26,713 233,455
Interest accrued 167,332 26,649 148 194,129
Deferred fuel costs 197,687 — — 197,687
Pension and other postretirement liabilities 49,348 — 16,836 66,184
Current portion of unprotected excess accumulated deferred
income taxes 76,457 — — 76,457
Other 180,327 1,837 19,616 201,780
Total 3,024,542 2,375,974 219,947 5,620,463
NON-CURRENT LIABILITIES:
Accumulated deferred income taxes and taxes accrued 5,899,201 (374,582 (1,123,429 4,401,190
Accumulated deferred investment tax credits 207,113 — — 207,113
Regulatory liability for income taxes - net 1,633,159 — — 1,633,159
Other regulatory liabilities 1,961,005 — — 1,961,005
Decommissioning and retirement cost liabilities 3,692,574 — 2,466,638 6,159,212
Accumulated provisions 533,706 — 322 534,028
Pension and other postretirement liabilities 2,141,381 — 656,884 2,798,265
Long-term debt 15,107,596 1,832,047 139,000 17,078,643
Other 1,243,775 (446,069 55,043 852,749
Total 32,419,510 1,011,396 2,194,458 35,625,364
Subsidiaries' preferred stock without sinking fund 195,161 — 24,249 219,410
EQUITY:
Common stock, $.01 par value, authorized 500,000,000 shares; 1,973,748 (2,172,151 201,103 2,700
issued 270,035,180 shares in 2019
Paid-in capital 4,117,727 882,286 1,564,423 6,564,436
Retained earnings 8,014,497 947,932 295,180 9,257,609
Accumulated other comprehensive income (loss) (102,521 — (344,399 (446,920
Less – treasury stock, at cost (70,886,400 shares in 2019) 120,000 5,034,150 — 5,154,150
Total common shareholders' equity 13,883,451 (5,376,083 1,716,307 10,223,675
Subsidiaries' preferred stock without sinking fund 35,000 — — 35,000
Total 13,918,451 (5,376,083 1,716,307 10,258,675
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 49,557,664 (1,988,713 4,154,961 51,723,912
Totals may not foot due to rounding.

All values are in US Dollars.

FINANCIAL RESULTS
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited)
In thousands, for the years ended December 31, 2019 2018 2017
OPERATING ACTIVITIES:
Consolidated net income (loss) 1,258,244 862,555 425,353
Adjustments to reconcile consolidated net income (loss)
to net cash flow provided by operating activities:
Depreciation, amortization, and decommissioning, including nuclear fuel amortization 2,182,313 2,040,555 2,078,578
Deferred income taxes, investment tax credits, and non-current taxes accrued 193,950 (256,848 529,053
Asset write-offs, impairments, and related charges 226,678 491,739 357,251
Changes in working capital:
Receivables (101,227 98,546 (97,637
Fuel inventory (28,173 45,839 (3,043
Accounts payable (71,898 97,312 101,802
Taxes accrued (20,784 39,272 33,853
Interest accrued 937 5,220 742
Deferred fuel costs 172,146 (25,829 56,290
Other working capital accounts (3,108 (164,173 (4,331
Changes in provisions for estimated losses 19,914 35,706 (3,279
Changes in other regulatory assets (545,559 189,193 595,504
Changes in other regulatory liabilities (14,781 (803,323 2,915,795
Deferred tax rate change recognized as regulatory liability / asset — — (3,665,498
Changes in pensions and other postretirement liabilities 187,124 (304,941 (130,686
Other (639,149 34,424 (566,247
Net cash flow provided by operating activities 2,816,627 2,385,247 2,623,500
INVESTING ACTIVITIES:
Construction/capital expenditures (4,197,667 (3,942,010 (3,607,532
Allowance for equity funds used during construction 144,862 130,195 96,000
Nuclear fuel purchases (128,366 (302,584 (377,324
Payment for purchase of plant or assets (305,472 (26,623 (16,762
Proceeds from sale of assets 28,932 24,902 100,000
Insurance proceeds received for property damages 7,040 18,270 26,157
Changes in securitization account 3,298 (5,844 1,323
Payments to storm reserve escrow account (8,038 (6,551 (2,878
Receipts from storm reserve escrow account — — 11,323
Decrease (increase) in other investments 30,319 (54,500 1,078
Litigation proceeds for reimbursement of spent nuclear fuel storage costs 2,369 59,643 25,493
Proceeds from nuclear decommissioning trust fund sales 4,121,351 6,484,791 3,162,747
Investment in nuclear decommissioning trust funds (4,208,870 (6,485,676 (3,260,674
Net cash flow used in investing activities (4,510,242 (4,105,987 (3,841,049
FINANCING ACTIVITIES:
Proceeds from the issuance of:
Long-term debt 9,304,396 8,035,536 1,809,390
Preferred stock of subsidiary 33,188 73,330 14,399
Treasury stock 93,862 103,315 80,729
Common stock 607,650 499,272 —
Retirement of long-term debt (7,619,380 (6,965,738 (1,585,681
Repurchase/redemptions of preferred stock (50,000 (53,868 (20,599
Changes in credit borrowings and commercial paper – net 4,389 364,031 1,163,296
Other (7,732 26,453 (7,731
Dividends paid:
Common stock (711,573 (647,704 (628,885
Preferred stock (16,438 (14,185 (13,940
Net cash flow provided by financing activities 1,638,362 1,420,442 810,978
Net increase (decrease) in cash and cash equivalents (55,253 (300,298 (406,571
Cash and cash equivalents at beginning of period 480,975 781,273 1,187,844
Cash and cash equivalents at end of period 425,722 480,975 781,273

All values are in US Dollars.

FINANCIAL RESULTS
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited)
$ thousands, for the years ended December 31, 2019 2018 2017
SUPPLEMENTAL DISCLOSURE OF
CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest – net of amount capitalized 778,209 734,845 678,371
Income taxes (40,435 ) 19,825 (13,375 )
CASH FLOW INFORMATION BY BUSINESS
--- --- --- --- --- --- --- ---
PARENT & ENTERGY
For the years ended December 31, 2019, 2018, and 2017. OTHER EWC CONSOLIDATED
( thousands)
2019
Net cash flow provided by (used in) operating activities (237,649 ) 80,404 2,816,627
Net cash flow provided by (used in) investing activities ) (159 ) (84,255 ) (4,510,242 )
Net cash flow provided by (used in) financing activities 244,969 (235 ) 1,638,362
2018
Net cash flow provided by (used in) operating activities (234,491 ) (73,690 ) 2,385,247
Net cash flow provided by (used in) investing activities ) (98 ) (212,868 ) (4,105,987 )
Net cash flow provided by (used in) financing activities 237,843 267,483 1,420,442
2017
Net cash flow provided by (used in) operating activities (452,430 ) 137,343 2,623,500
Net cash flow provided by (used in) investing activities ) (438 ) (193,668 ) (3,841,049 )
Net cash flow provided by (used in) financing activities 449,109 (144,008 ) 810,978
Totals may not foot due to rounding.

All values are in US Dollars.

FINANCIAL RESULTS
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited)
Common Shareholders’ Equity
( thousands) Common Stock Treasury Stock Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Total
Balance at December 31, 2016 2,548 (5,498,584 ) 5,417,245 8,195,571 (34,971 ) 8,081,809
Consolidated net income (loss) (a) — — — 411,612 — 425,353
Other comprehensive loss — — — — 11,440 11,440
Common stock issuances related to stock plans — 100,947 16,188 — — 117,135
Common stock dividends declared — — — (628,885 ) — (628,885 )
Subsidiaries' capital stock redemptions — — — (596 ) — (596 )
Preferred dividend requirements of subsidiaries (a) ) — — — — — (13,741 )
Balance at December 31, 2017 2,548 (5,397,637 ) 5,433,433 7,977,702 (23,531 ) 7,992,515
Implementation of accounting standards — — — 576,257 (632,617 ) (56,360 )
Balance at January 1, 2018 2,548 (5,397,637 ) 5,433,433 8,553,959 (656,148 ) 7,936,155
Consolidated net income (loss) (a) — — — 848,661 — 862,555
Other comprehensive loss — — — — 83,470 83,470
Settlement of equity forwards through common stock
issuance 68 — 499,932 — — 500,000
Common stock issuance costs — — (728 ) — — (728 )
Common stock issuances related to stock plans — 123,918 18,794 — — 142,712
Common stock dividends declared — — — (647,704 ) — (647,704 )
Subsidiaries' capital stock redemptions — — — (1,723 ) — (1,723 )
Preferred dividend requirements of subsidiaries (a) ) — — — — — (13,894 )
Reclassification pursuant to ASU 2018-02 — — — (32,043 ) 15,505 (16,538 )
Balance at December 31, 2018 2,616 (5,273,719 ) 5,951,431 8,721,150 (557,173 ) 8,844,305
Implementation of accounting standards — — — 6,806 (6,806 ) —
Balance at January 1, 2019 2,616 (5,273,719 ) 5,951,431 8,727,956 (563,979 ) 8,844,305
Consolidated net income (loss) (a) — — — 1,241,226 — 1,258,244
Other comprehensive income — — — — 117,059 117,059
Settlement of equity forwards through common stock
issuance 84 — 607,566 — — 607,650
Common stock issuance costs — — (7 ) — — (7 )
Common stock issuances related to stock plans — 119,569 5,446 — — 125,015
Common stock dividends declared — — — (711,573 ) — (711,573 )
Subsidiary's preferred stock issuance — — — — — 35,000
Preferred dividend requirements of subsidiaries (a) ) — — — — — (17,018 )
Balance at December 31, 2019 2,700 (5,154,150 ) 6,564,436 9,257,609 (446,920 ) 10,258,675
(a) Consolidated net income and preferred dividend requirements of subsidiaries include 16.5 million for 2019, 13.9 million for 2018, and 13.7 million for 2017 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity.

All values are in US Dollars.

FINANCIAL RESULTS
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited)
In thousands, for the years ended December 31, 2019 2018 2017
NET INCOME (LOSS) 1,258,244 862,555 425,353
Other comprehensive income (loss)
Cash flow hedges net unrealized gain (loss)
(net of tax expense (benefit) of $28,516, $5,830, and ($22,570) for 2019 to 2017, respectively) 115,026 22,098 (41,470
Pension and other postretirement liabilities
(net of tax expense (benefit) of ($6,539), $30,299 and ($4,057) for 2019 to 2017, respectively) (25,150 90,143 (61,653
Net unrealized investment gains (losses)
(net of tax expense (benefit) of $14,023, $6,393 and $80,069 for 2019 to 2017, respectively) 27,183 (28,771 115,311
Foreign currency translation
(net of tax expense (benefit) of $-, $- and $403 for 2019 to 2017, respectively) — — (748
Other comprehensive income (loss) 117,059 83,470 11,440
COMPREHENSIVE INCOME (LOSS) 1,375,303 946,025 436,793
Preferred dividend requirements of subsidiaries 17,018 13,894 13,741
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION 1,358,285 932,131 423,052

All values are in US Dollars.

CONSOLIDATED CAPITAL EXPENDITURES
HISTORICAL CAPITAL EXPENDITURES
($ millions) 2019 2018 2017
Utility
Generation 1,781 1,599 1,325
Transmission 1,030 895 887
Distribution 1,114 862 833
Other 504 434 400
Entergy Wholesale Commodities 74 178 179
Total Historical Capital Expenditures 4,503 3,968 3,624
ENTERGY CORPORATION SECURITIES DETAIL
--- --- --- --- --- --- --- --- --- ---
ENTERGY CORPORATION LONG-TERM DEBT CURRENT OR AS OF
MATURITY FIRST CALL FIRST CALL DECEMBER 31,
CUSIP RATE DATE DATE PRICE 2019 2018
3.6 % 09/24 (b) $ 440 $ 220
2.5 % 1,947 1,942
29364GAF0 5.13 % 09/20 Now MW (T+.40%) 450 450
29364GAH6 4 % 07/22 Now MW (T+.30%) 650 650
29364GAJ2 2.95 % 09/26 Now MW (T+.25%) 750 750
$ 4,237 $ 4,012
(a) Entergy Corporation has a commercial paper program with a program limit of up to 2.0 billion.
(b) The maturity date was extended in September 2019.

All values are in US Dollars.

SECURITIES RATINGS (OUTLOOK)
ISSUER RATING CORPORATE CREDIT
As of 12/31/19 MOODY’S S&P
Entergy Corporation Baa2 (stable) BBB+ (stable)
CALL PRICE
AS OF PER SHARE
PREFERRED MEMBER INTERESTS DECEMBER 31, AS OF DECEMBER 31,
CUSIP RATE 2019 2018 2019
None 10.00 % $ 684 $ 684 —
None 9.00 % 413 413 —
None 7.50 % 294 294 —
None 5.00 % 734 734 —
None 5.00 % 256 256 —
$ 2,381 $ 2,381 —
OTHER NON-CURRENT LIABILITIES:
None 10.00 % — $ 50 —
— $ 50 —
$ 2,381 $ 2,431 —
(a) Distributions are payable quarterly and have a liquidation price of 100 per unit. The preferred membership interests are callable at the option of Entergy Holdings Company LLC after ten years under the terms of the LLC agreement.
(b) On February 16, 2012, Entergy Gulf States Louisiana, L.L.C. sold 500,000 units of Class A preferred, non-voting, membership interest units of Entergy Holdings Company LLC. to a non-affiliated third party. This preferred membership interest is reflected in the Parent & Other disclosure segment in ‘Other Non-Current Liabilities’ on the balance sheet.
Totals may not foot due to rounding.

All values are in US Dollars.

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UTILITY SELECTED DATA
UTILITY QUARTERLY FINANCIAL METRICS
2019 2018 FY %
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY CHANGE
GAAP MEASURES
As-reported earnings ($ millions) 231 331 578 271 1,411 215 376 505 388 1,483 (4.8 )
ROIC – as-reported (%)(a) 7.2 7 7.1 6.6 6.6 5.1 5.5 5.8 7.5 7.5 (11.8 )
ROE – as-reported (%)(a) 12.6 11.8 11.9 10.7 10.7 7.5 8.4 9 12.6 12.6 (15.0 )
Debt to capital Ratio (%) 53.9 54.0 53.0 52.4 52.4 55.2 53.2 52.8 52.3 52.3 0.1
NON-GAAP MEASURES
Adjusted earnings ($ millions) 231 331 578 229 1,369 215 333 505 209 1,262 8.5
ROIC – adjusted (%)(a) 6.4 6.4 6.5 6.5 6.5 5.8 6.1 6.4 6.6 6.6 (1.6 )
ROE – adjusted (%)(a) 10.7 10.4 10.5 10.4 10.4 9.2 9.6 10.2 10.7 10.7 (2.8 )
Debt to capital ratio,<br><br>excluding securitization debt (%) 53.2 53.4 52.4 51.9 51.9 54.3 52.3 51.9 51.6 51.6 0.7
Net debt to net capital ratio,<br><br>excluding securitization debt (%) 52.0 52.8 51.3 51.6 51.6 52.5 51.1 50.4 51.1 51.1 1.0
(a) Rolling twelve months. Totals may not foot due to rounding.
UTILITY ANNUAL FINANCIAL METRICS
--- --- --- ---
2019 2018 2017
GAAP MEASURES
As-reported earnings ($ millions) 1,411 1,483 762
ROIC – as-reported (%)(a) 6.6 7.5 4.7
ROE – as-reported (%)(a) 10.7 12.6 7.1
Debt to capital ratio (%) 52.4 52.3 53.9
NON-GAAP MEASURES
Adjusted earnings ($ millions) 1,369 1,262 942
ROIC – adjusted (%)(a) 6.5 6.6 5.5
ROE – adjusted (%)(a) 10.4 10.7 8.8
Debt to capital ratio, excluding securitization debt (%) 51.9 51.6 52.8
Net debt to net capital ratio, excluding securitization debt (%) 51.6 51.1 51.7
(a) Rolling twelve months. Totals may not foot due to rounding.
UTILITY SECURITIES RATINGS (OUTLOOK)
--- --- ---
MORTGAGE BONDS
As of 5/26/20 MOODY’S S&P
Entergy Arkansas, LLC A2 (stable) A (stable)
Entergy Louisiana, LLC A2 (stable) A (stable)
Entergy Mississippi, LLC A2 (stable) A (stable)
Entergy New Orleans, LLC Baa2 (stable) A (stable)
Entergy Texas, Inc. Baa1 (positive) A (stable)
System Energy Resources, Inc. Baa1 (stable) A (stable)
UTILITY HISTORICAL CAPITAL EXPENDITURES(a)
($ millions) 2019 2018 2017
Entergy Arkansas 642 660 736
Entergy Louisiana 1,673 1,832 1,673
Entergy Mississippi 738 387 435
Entergy New Orleans 230 202 115
Entergy Texas 898 452 348
System Energy Resources 167 195 92
Other(b) 82 62 46
Total 4,430 3,790 3,445
(a) Historical capital expenditures include storm capital spending.
(b) Corresponds to Entergy Services, LLC, Entergy Operations, Inc., and Varibus, L.L.C.
UTILITY FINANCIAL RESULTS
2019 UTILITY CONSOLIDATING INCOME STATEMENT (unaudited)
OTHER/
In thousands, for the year ending December 31, 2019. E-AR E-LA E-MS E-NO E-TX SERI ELIMINATIONS(a) UTILITY
OPERATING REVENUES:
Electric 2,259,594 4,223,027 1,323,043 594,417 1,488,955 573,410 (1,032,415 9,430,031
Natural gas — 62,148 — 91,806 — — — 153,954
Total 2,259,594 4,285,175 1,323,043 686,223 1,488,955 573,410 (1,032,415 9,583,985
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale 458,907 845,108 277,425 105,217 162,544 82,438 (161 1,931,478
Purchased power 204,640 810,462 284,492 258,306 602,563 — (1,026,269 1,134,194
Nuclear refueling outage expenses 68,769 54,170 — — — 33,376 — 156,315
Other operation and maintenance 720,217 994,637 266,175 121,057 258,924 206,444 (4,886 2,562,568
Decommissioning 68,030 59,346 — — — 35,729 1,162 164,267
Taxes other than income taxes 115,869 194,222 105,318 55,270 76,366 29,018 6,748 582,811
Depreciation and amortization 307,351 535,791 170,886 56,072 153,286 106,630 (1,116 1,328,900
Other regulatory charges (credits) – net (11,186 (105,203 14,993 21,616 88,770 (35,210 — (26,220
Total 1,932,597 3,388,533 1,119,289 617,538 1,342,453 458,425 (1,024,522 7,834,313
OPERATING INCOME 326,997 896,642 203,754 68,685 146,502 114,985 (7,893 1,749,672
OTHER INCOME (DEDUCTIONS):
Allowance for equity funds used during construction 15,499 74,023 8,356 9,941 28,445 8,709 1 144,974
Interest and investment income 26,020 231,985 1,412 428 3,072 29,488 (2,835 289,570
Miscellaneous – net (18,566 (115,427 (4,478 (6,038 546 (5,516 (65 (149,544
Total 22,953 190,581 5,290 4,331 32,063 32,681 (2,899 285,000
INTEREST EXPENSE:
Interest expense 140,087 309,493 61,785 24,463 86,333 35,328 (3,137 654,352
Allowance for borrowed funds used during construction (6,332 (35,430 (3,532 (4,262 (13,269 (2,131 (1 (64,957
Total 133,755 274,063 58,253 20,201 73,064 33,197 (3,138 589,395
INCOME (LOSS) BEFORE INCOME TAXES 216,195 813,160 150,791 52,815 105,501 114,469 (7,654 1,445,277
Income taxes (46,769 121,623 30,866 186 (53,896 15,349 (47,725 19,634
NET INCOME 262,964 691,537 119,925 52,629 159,397 99,120 40,071 1,425,643
Preferred dividend requirements and other — — — — 580 — 14,250 14,830
EARNINGS APPLICABLE TO
COMMON STOCK / EQUITY 262,964 691,537 119,925 52,629 158,817 99,120 25,821 1,410,813
Totals may not foot due to rounding.
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions.

All values are in US Dollars.

UTILITY FINANCIAL RESULTS
2019 UTILITY CONSOLIDATING BALANCE SHEET (unaudited)
In thousands, as of December 31, 2019. E-AR E-LA E-MS E-NO E-TX SERI UTILITY
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash 3,519 488 11 26 25 93 23,848 28,010
Temporary cash investments — 1,518 51,590 5,991 12,904 68,441 173,613
Total cash and cash equivalents 3,519 2,006 51,601 6,017 12,929 68,534 201,623
Securitization recovery trust account 4,036 — — 1,989 37,720 —
Accounts receivable:
Customer 117,679 194,869 92,050 48,265 59,365 — 512,228
Allowance for doubtful accounts (1,169 (1,902 (636 (3,226 (471 — (7,404
Associated companies 29,178 77,212 49,257 6,280 24,001 121,972 20,481
Other 117,653 42,179 14,986 7,378 17,050 7,547 210,452
Accrued unbilled revenues 108,489 169,201 47,426 25,453 50,048 — 400,617
Total accounts receivable 371,830 481,559 203,083 84,150 149,993 129,519 1,136,374
Fuel inventory – at average cost 33,745 41,613 15,139 1,920 47,593 — 140,010
Materials and supplies – at average cost 211,320 354,020 57,972 13,522 46,056 108,766 792,192
Deferred nuclear refueling outage costs 48,875 56,743 — — — 14,493 120,110
Prepaid taxes — 7,959 — — — — —
Prepayments and other 14,096 37,837 7,149 4,846 21,012 6,045 171,874
Total 687,421 981,737 334,944 112,444 315,303 327,357 2,562,183
OTHER PROPERTY AND INVESTMENTS:
Investment in affiliates – at equity — 1,390,587 — — 396 — 1,468,991
Decommissioning trust funds 1,101,283 1,563,812 — — — 1,054,098 3,719,193
Non-utility property – at cost (less accumulated depreciation) — 312,896 4,560 1,016 376 — 319,504
Storm reserve escrow account — 295,875 — 82,605 — — —
Escrow accounts — — 80,201 — — — —
Other 345 13,476 — — 20,077 — 492,245
Total 1,101,628 3,576,646 84,761 83,621 20,849 1,054,098 5,999,933
PROPERTY, PLANT AND EQUIPMENT
Electric 12,293,483 22,620,365 5,672,589 1,467,215 5,199,027 5,070,859 53,298,795
Natural gas — 235,678 — 311,432 — — 547,110
Construction work in progress 197,775 1,383,603 88,373 201,829 760,354 164,996 2,813,416
Nuclear fuel 195,547 267,779 — — — 149,574 612,900
Total property, plant and equipment 12,686,805 24,507,425 5,760,962 1,980,476 5,959,381 5,385,429 57,272,221
Less – accumulated depreciation and amortization 5,019,826 9,118,524 1,894,000 715,406 1,770,852 3,285,487 22,364,188
Property, plant and equipment – net 7,666,979 15,388,901 3,866,962 1,265,070 4,188,529 2,099,942 34,908,033
DEFERRED DEBITS AND OTHER ASSETS:
Regulatory assets:
Other regulatory assets (includes securitization property
of $239,219 as of December 31, 2019) 1,666,850 1,315,211 377,972 259,363 512,648 490,083 5,292,055
Deferred fuel costs 67,690 168,122 — 4,080 — — 239,892
Goodwill — — — — — — 374,099
Accumulated deferred income taxes — — — — — 8,023 59,425
Other 15,065 33,491 10,105 10,720 33,393 3,192 122,044
Total 1,749,605 1,516,824 388,077 274,163 546,041 501,298 6,087,515
TOTAL ASSETS 11,205,633 21,464,108 4,674,744 1,735,298 5,070,722 3,982,695 1,424,464 49,557,664
Totals may not foot due to rounding.
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions.

All values are in US Dollars.

UTILITY FINANCIAL RESULTS
2019 UTILITY CONSOLIDATING BALANCE SHEET (unaudited)
In thousands, as of December 31, 2019. E-AR UTILITY
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Currently maturing long-term debt — 320,002 — 25,000 — 10 — 345,012
Payable due to associated companies — —
Accounts payable:
Associated companies 111,785 34,378
Other 202,201 1,303,705
Customer deposits 101,411 409,171
Taxes accrued 81,831 261,125
Interest accrued 22,788 167,332
Deferred fuel costs 53,721 197,687
Current portion of unprotected excess accumulated deferred income taxes 9,296 76,457
Pension and other postretirement liabilities — 49,348
Other 38,760 180,327
Total 621,793 3,024,542
NON-CURRENT LIABILITIES:
Accumulated deferred income taxes and taxes accrued 1,183,126 5,899,201
Accumulated deferred investment tax credits 31,701 207,113
Regulatory liability for income taxes - net 478,174 1,633,159
Other regulatory liabilities 559,555 1,961,005
Decommissioning and asset retirement cost liabilities 1,242,616 3,692,574
Accumulated provisions 63,880 533,706
Pension and other postretirement liabilities 319,075 2,141,381
Long-term debt (includes securitization bonds
of $297,982 as of December 31, 2019) 3,517,208 15,107,596
Long-term payable due to associated companies — —
Other 62,568 1,243,775
Total 7,457,903 32,419,510
Preferred stock without sinking fund — 195,161
EQUITY:
Common stock or member's equity 3,125,937 1,973,748
Paid-in capital — 4,117,727
Retained earnings — 8,014,497
Accumulated other comprehensive (loss) — (102,521
Less – treasury stock, at cost — 120,000
Total common shareholders' equity 3,125,937 13,883,451
Preferred stock without sinking fund — 35,000
Total 3,125,937 13,918,451
TOTAL LIABILITIES AND EQUITY 11,205,633 21,464,108 4,674,744 1,735,298 5,070,722 3,982,695 1,424,464 49,557,664
Totals may not foot due to rounding.
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions.

All values are in US Dollars.

UTILITY FINANCIAL RESULTS
UTILITY SELECTED ANNUAL FINANCIAL METRICS
2019 2018 2017
ENTERGY ARKANSAS, LLC
As-Reported Earnings ($ millions) 263 252 138
Less Adjustments ($ millions) — (2 ) 3
Adjusted Earnings ($ millions) 263 254 135
GAAP MEASURES
ROIC – As-Reported (%) 5.6 5.8 4.0
Return on Average Member's Equity – As-Reported (%) 8.6 9.4 6.0
Debt to Capital (%) 53.0 52.0 55.5
Total Debt ($ millions) 3,528 3,226 3,002
Total Preferred ($ millions) — — 31
Total Equity ($ millions) 3,126 2,983 2,377
NON-GAAP MEASURES
ROIC – Adjusted (%) 5.6 5.9 4.0
Return on Average Member's Equity – Adjusted (%) 8.6 9.5 5.8
Total Debt, excluding securitization debt ($ millions) 3,522 3,205 2,968
Debt to Capital, excluding securitization debt (%) 53.0 51.8 55.2
Net Debt to Net Capital, excluding securitization debt (%) 53.0 51.8 55.2
Totals may not foot due to rounding.
ENTERGY LOUISIANA, LLC
As-Reported Net Income ($ millions) 692 676 316
Less Adjustments ($ millions) — 50 (183 )
Adjusted Net Income ($ millions) 692 626 499
GAAP MEASURES
ROIC – As-Reported (%) 6.8 7.1 4.2
Return on Average Common Equity – As-Reported (%) 11.3 12.1 6.1
Debt to Capital (%) 53.4 53.6 53.8
Total Debt ($ millions) 7,321 6,806 6,188
Total Preferred ($ millions) — — —
Total Equity ($ millions) 6,397 5,903 5,309
NON-GAAP MEASURES
ROIC – Adjusted (%) 6.8 6.7 5.9
Return on Average Common Equity – Adjusted (%) 11.3 11.2 9.6
Total Debt, excluding securitization debt ($ millions) 7,288 6,750 6,110
Debt to Capital, excluding securitization debt (%) 53.3 53.3 53.5
Net Debt to Net Capital, excluding securitization debt (%) 53.2 53.2 53.4
Totals may not foot due to rounding.
UTILITY FINANCIAL RESULTS
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED)
2019 2018 2017
ENTERGY MISSISSIPPI, LLC
As-Reported Earnings ($ millions) 120 125 109
Less Adjustments ($ millions) — (1 ) (3 )
Adjusted Earnings ($ millions) 120 126 113
GAAP MEASURES
ROIC – As-Reported (%) 5.7 6.5 5.9
Return on Average Member's Equity – As-Reported (%) 8.5 10.1 9.6
Debt to Capital (%) 51.2 50.6 51.5
Total Debt ($ millions) 1,621 1,326 1,270
Total Preferred ($ millions) — — 20
Total Equity ($ millions) 1,542 1,292 1,178
NON-GAAP MEASURES
ROIC – Adjusted (%) 5.7 6.5 6.1
Return on Average Member's Equity – Adjusted (%) 8.5 10.2 9.9
Net Debt to Net Capital (%) 50.4 49.9 51.3
Totals may not foot due to rounding.
ENTERGY NEW ORLEANS, LLC
As-Reported Earnings ($ millions) 53 53 44
Less Adjustments ($ millions) — — (6 )
Adjusted Earnings ($ millions) 53 53 50
GAAP MEASURES
ROIC – As-Reported (%) 6.8 7.6 6.5
Return on Average Member's Equity – As-Reported (%) 11.3 12.4 10.4
Debt to Capital (%) 53.1 52.1 51.3
Total Debt ($ millions) 564 484 437
Total Preferred ($ millions) — — —
Total Equity ($ millions) 498 445 416
NON-GAAP MEASURES
ROIC – Adjusted (%) 7.2 8.2 8.0
Return on Average Member's Equity – Adjusted (%) 11.3 12.4 11.8
Total Debt, excluding securitization debt ($ millions) 511 420 362
Debt to Capital, excluding securitization debt (%) 50.7 48.6 46.6
Net debt to net capital, excluding securitization debt 50.4 47.4 44.2
Totals may not foot due to rounding.
ENTERGY TEXAS, INC.
As-Reported Net Income ($ millions) 159 162 76
Less Adjustments ($ millions) — 37 (3 )
Adjusted Net Income ($ millions) 159 125 79
GAAP MEASURES
ROIC – As-Reported (%) 6.5 7.8 4.7
ROE – As-Reported (%) 10.0 12.1 6.5
Debt to Capital (%) 51.7 51.6 55.7
Total Debt ($ millions) 1,928 1,514 1,587
Total Preferred ($ millions) 35 — —
Total Common Equity ($ millions) 1,764 1,422 1,260
NON-GAAP MEASURES
ROIC – Adjusted (%) 7.0 7.4 5.6
ROE – Adjusted (%) 10.0 9.3 6.8
Total Debt, excluding securitization debt ($ millions) 1,723 1,230 1,229
Debt to Capital, excluding securitization debt (%) 48.9 46.4 49.4
Net Debt to Net Capital, excluding securitization debt (%) 48.7 46.4 46.9
Totals may not foot due to rounding.
UTILITY FINANCIAL RESULTS
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED)
2019 2018 2017
SYSTEM ENERGY RESOURCES, INC.
As-Reported Net Income ($ millions) 99 94 79
Less Adjustments ($ millions) — — —
Adjusted Earnings ($ millions) 99 94 79
GAAP MEASURES
ROIC – As-Reported (%) 9.4 9.2 7.6
ROE – As-Reported (%) 13.7 13.0 10.8
Debt to Capital (%) 43.5 46.1 44.5
Total Debt ($ millions) 548 631 569
Total Preferred ($ millions) — — —
Total Equity ($ millions) 712 737 711
NON-GAAP MEASURES
ROIC – Adjusted (%) 9.4 9.2 7.6
ROE – Adjusted (%) 13.7 13.0 10.8
Net Debt to Net Capital (%) 40.2 42.1 28.5
Totals may not foot due to rounding.
UTILITY SECURITIES DETAIL
UTILITY LONG-TERM DEBT AND PREFERRED STOCK
ENTERGY ARKANSAS, LLC
FIRST CURRENT OR
BONDS: MATURITY CALL OR FIRST AS OF DECEMBER 31,
CUSIP TYPE* RATE DATE DATE CALL PRICE 2019 2018
( millions)
29364DAQ3 M 3.75 % 2/21 Now MW (T + .20%) $ 350 $ 350
29364DAR1 M 3.05 % 6/23 Now MW (T + .20%) 250 250
29364DAS9 M 3.70 % 6/24 Now MW (T + .15%) 375 375
29364DAU4 M 3.50 % 4/26 Now MW (T + .20%) 600 600
29364DAV2 M 4.00 % 6/28 Now MW (T + .20%) 250 250
29364DAT7 M 4.95 % 12/44 Now MW (T + .30%) 250 250
29366MAA6 M 4.20 % 4/49 Now MW (T + .20%) 350 —
29364D761 M 4.90 % 12/52 Now 100 % 200 200
29364D753 M 4.75 % 6/63 Now 100 % 125 125
29364D100 M 4.88 % 9/66 9/1/21 100 % 410 410
453424BT9 G(a,d) 2.38 % 1/21 Non-Call Life 45 45
3,205 2,855
OTHER LONG-TERM DEBT:
76824*AV6 3.65 % 7/21 Now MW (T + .50%) 90 90
76824*AW4 3.17 % 12/23 Now MW (T + .50%) 40 40
3.33 % 9/21 15 60
29365YAA1 2.30 % 8/21 Non-Call Life 7 22
191 187
2 4
(35 ) (34 )
2 2
TOTAL LONG-TERM DEBT 3,517 3,226
Less Amount Due Within One Year — —
Long-Term Debt Excluding Amount Due Within One Year 3,517 3,226
Fair Value of Long-Term Debt(c) $ 3,557 $ 3,003
Weighted-average annualized coupon rate (e) 4.0 % 4.0 %
*M = Mortgage Bond; G = Governmental Bond
(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.
(c) The fair value excludes long-term DOE obligations at Entergy Arkansas and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(d) The bonds are secured by a series of collateral first mortgage bonds.
(e) Rate calculation only includes Bonds, VIE notes, and Securitization Bonds
Totals may not foot due to rounding.

All values are in US Dollars.

ENTERGY UTILITY HOLDING COMPANY, LLC
SHARES
AUTHORIZED AND OUTSTANDING
PREFERRED STOCK: AS OF DECEMBER 31, AS OF DECEMBER 31,
CUSIP 2019 2018 2019
( millions)
110,000 110,000 107 $107
15,000 15,000 14
75,000 75,000 73
200,000 200,000 195 $195
(a) Dollar amount outstanding is net of preferred stock issuance costs.
Totals may not foot due to rounding.

All values are in US Dollars.

UTILITY LONG-TERM DEBT AND PREFERRED STOCK
ENTERGY LOUISIANA, LLC
CURRENT
BONDS: MATURITY FIRST CALL OR FIRST AS OF DECEMBER 31,
CUSIP TYPE* RATE DATE DATE CALL PRICE 2019 2018
( millions)
29365PAQ5 M 3.95% 10/20 Now MW (T + .25%) 250 250
29364WAN8 M 4.80% 5/21 Now MW (T + .25%) 200 200
29364WAR9 M 3.30% 12/22 Now MW (T + .25%) 200 200
29364WAS7 M 4.05% 9/23 Now MW (T + .20%) 325 325
29365PAP7 M 5.59% 10/24 Now MW (T + .40%) 300 300
29364WAK4 M 5.40% 11/24 Now MW (T + .35%) 400 400
29365PAR3 M 3.78% 4/25 Now MW (T + .20%) 110 110
29364WAU2 M 3.78% 4/25 Now MW (T + .20%) 190 190
29364WAM0 M 4.44% 1/26 Now MW (T + .30%) 250 250
29364WAY4 M 2.40% 10/26 Now MW (T + .15%) 400 400
29364WAZ1 M 3.12% 9/27 Now MW (T + .15%) 450 450
29364WAW8 M 3.25% 4/28 Now MW (T + .25%) 425 425
29364WAX6 M 3.05% 6/31 Now MW (T + .25%) 325 325
29364WBA5 M 4.00% 3/33 Now MW (T + .20%) 750 750
29364WAT5 M 5.00% 7/44 Now MW (T + .25%) 170 170
29364WAV0 M 4.95% 1/45 Now MW (T + .30%) 450 450
29364WBB3 M 4.20% 9/48 Now MW (T + .20%) 600 600
29364WBC1 M 4.20 % 4/50 Now MW (T + .20%) 525 —
29364W504 M 5.25% 7/52 Now 100% 200 200
29364W603 M 4.70% 6/63 Now 100% 100 100
29364W108 M 4.88% 9/66 9/1/21 100% 270 270
5463984Y1 G(a,c) 3.38% 9/28 3/1/21 100% 84 84
5463984Z8 G(a,c) 3.50% 6/30 6/1/21 100% 115 115
7,089 6,564
OTHER LONG-TERM DEBT:
76083@AT4 3.38% 8/20 Now MW (T + .50%) 70 70
76822*AM8 3.92% 2/21 Now MW (T + .50%) 40 40
76822*AN6 3.22% 12/23 Now MW (T + .50%) 20 20
3.44% 9/21 70 39
3.35% 9/21 50 82
29366AAA2 2.04% 6/21 34 57
(17 (15
(58 (57
6 7
TOTAL LONG-TERM DEBT 7,304 6,806
Less Amount Due Within One Year 320 2
Long-Term Debt Excluding Amount Due Within One Year 6,984 6,804
Fair Value of Long-Term Debt(b) 7,961 6,834
Weighted-average annualized coupon rate (d) 4.1% 4.1
*M = Mortgage Bond; G = Governmental Bond
(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(c) The bonds are secured by a series of collateral first mortgage bonds.
(d) Rate calculation only includes Bonds, VIE notes, and Securitization Bonds
Totals may not foot due to rounding.

All values are in US Dollars.

UTILITY LONG-TERM DEBT AND PREFERRED STOCK
ENTERGY MISSISSIPPI, LLC
CURRENT
BONDS: MATURITY FIRST CALL OR FIRST AS OF DECEMBER 31,
CUSIP TYPE* RATE DATE DATE CALL PRICE 2019 2018
( millions)
29364NAP3 M 6.64% 7/19 Now MW (T + .50%) — 150
29364NAR9 M 3.10% 7/23 Now MW (T + .25%) 250 250
29364NAS7 M 3.75% 7/24 Now MW (T + .15%) 100 100
29364NAU2 M 3.25% 12/27 Now MW (T + .15%) 150 150
29364NAT5 M 2.85% 6/28 Now MW (T + .20%) 375 375
29365*AA6 M 4.52% 12/38 Now MW (T + .50%) 55 55
29366WAA4 M 3.85 % 6/49 Now MW (T + .20%) 435 —
29364N108 M 4.90% 7/24 10/1/21 100% 260 260
1,625 1,340
OTHER LONG-TERM DEBT:
6 (1
(17 (13
TOTAL LONG-TERM DEBT 1,614 1,326
Less Amount Due Within One Year — 150
Long-Term Debt Excluding Amount Due Within One Year 1,614 1,176
Fair Value of Long-Term Debt(a) 1,710 1,276
Weighted-average annualized coupon rate (B) 3.6 3.9%
*M = Mortgage Bond
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(b) Rate calculation only includes Bonds
Totals may not foot due to rounding.

All values are in US Dollars.

ENTERGY NEW ORLEANS, LLC
CURRENT
BONDS: MATURITY FIRST CALL OR FIRST AS OF DECEMBER 31,
CUSIP TYPE* RATE DATE DATE CALL PRICE 2018 2017
( millions)
29364PAM5 M 5.10% 12/20 Now MW (T + .35%) 25 25
29364PAN3 M 3.90% 7/23 Now MW (T + .30%) 100 100
29364PAP8 M 4.00% 6/26 Now MW (T + .35%) 85 85
29365@AA4 M 4.51% 9/33 Now MW (T + .50%) 60 60
29364P509 M 5.00% 12/52 Now 100% 30 30
29364P103 M 5.50% 4/66 4/1/21 100% 110 110
410 410
OTHER LONG-TERM DEBT:
29277VAA4 2.67% 6/27 54 66
3.00 % 5/22 70
2.92 % 20 —
11/35 14 16
— —
(8 (8
TOTAL LONG-TERM DEBT 561 484
Less Amount Due Within One Year 27 2
Long-Term Debt Excluding Amount Due Within One Year 534 482
Fair Value of Long-Term Debt(a) 524 492
Weighted-average annualized coupon rate (B) 4.4 4.7
*M = Mortgage
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(b) Rate calculation only includes Bonds and Securitization Bonds
Totals may not foot due to rounding.

All values are in US Dollars.

UTILITY LONG-TERM DEBT AND PREFERRED STOCK
ENTERGY TEXAS, INC.
CURRENT
BONDS: MATURITY FIRST CALL OR FIRST AS OF DECEMBER 31,
CUSIP TYPE* RATE DATE DATE CALL PRICE 2019 2018
( millions)
29365TAA2 M 7.13% 2/19 Now MW (T + .50%) — 500
29365TAE4 M 2.55% 6/21 Now MW (T + .20%) 125 125
29365TAC8 M 4.10% 9/21 Now MW (T + .35%) 75 75
29365TAF1 M 3.45% 12/27 Now MW (T + .20%) 150 150
29365TAG9 M 4.00 % 3/29 Now MW (T + .25%) 300 —
2936TAH7 M 4.50 % 3/39 Now MW (T + .25%) 400 —
29365TAD6 M 5.15% 6/45 Now MW (T + .35%) 250 250
29365TAJ3 M 5.15 % 9/49 Now MW (T + .20%) 300 —
29365T104 M 5.63% 6/64 6/1/19 100% 135 135
1,735 1,235
OTHER LONG-TERM DEBT:
29365KAB9 3.65% 8/19 — —
29365QAC4 5.93% 6/22 50 81
29365KAC7 4.38% 11/23 156 204
(5 (1
(18 (9
4 4
TOTAL LONG-TERM DEBT 1,923 1,514
Less Amount Due Within One Year — 500
Long-Term Debt Excluding Amount Due Within One Year 1,923 1,014
Fair Value of Long-Term Debt(a) 2,090 1,529
Weighted-average annualized coupon rate (b) 4.2 4.5
*M = Mortgage Bond
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(b) Rate calculation only includes Bonds and Securitization Bonds
Totals may not foot due to rounding.

All values are in US Dollars.

PREFERRED STOCK: AS OF DECEMBER 31, AS OF DECEMBER 31,
CUSIP 2019 2018 2019 2018
( millions)
$ — $ — $ — $ —
29365T302 $ 1,400,000 $ — $ 35 $ —
$ 1,400,000 $ — $ 35 $ —
Totals may not foot due to rounding.

All values are in US Dollars.

SYSTEM ENERGY RESOURCES, INC.
CURRENT
BONDS: MATURITY FIRST CALL OR FIRST AS OF DECEMBER 31,
CUSIP TYPE* RATE DATE DATE CALL PRICE 2019 2018
( millions)
605277AB8 G(a) 5.88% 4/22 Now 100% 134 134
871911AS2 M 4.10% 4/23 Now MW (T + 0.40%) 250 250
384 384
OTHER LONG-TERM DEBT:
76823#AS0 3.78% 10/18 — —
76823#AT8 3.42% 4/21 100 100
3.44% 9/21 32 114
361561AA1 5.13% 34 34
— —
(2 (1
— —
TOTAL LONG-TERM DEBT 548 631
Less Amount Due Within One Year — —
Long-Term Debt Excluding Amount Due Within One Year 548 631
Fair Value of Long-Term Debt(b) 565 630
Weighted-average annualized coupon rate (c) 4.5 4.5%
*M = Mortgage Bond; G = Governmental Bond
(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) The fair value excludes lease obligations of 34 million at System Energy and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(c) Rate calculation only includes Bonds and VIE notes
Totals may not foot due to rounding.

All values are in US Dollars.

UTILITY STATISTICAL INFORMATION
UTILITY TOTAL CAPABILITY
OWNED &
OPERATED LEASED OPERATED
As of December 31, 2019 PLANTS UNITS (MW)(a) (MW)(b)
Plants that use fuel type:
Gas/Oil 21 41 15,128 15,842
Coal 3 5 2,220 3,857
Petroleum Coke 1 2 — 190
Total Fossil 25 48 17,348 19,889
Hydro 3 7 73 147
Nuclear 2 3 5,207 5,346
Solar 4 4 2 2
Total Capability 34 62 22,630 25,384
All plants that have units with multiple fuel types are in the Gas & Oil plant count.
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties, which Entergy operates for the participating parties.
UTILITY SELECTED OPERATING DATA
2019 2018 2017
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil 52,672 51,093 46,221
Coal 8,214 11,848 10,730
Nuclear 37,484 36,242 34,695
Hydro 224 160 93
Solar 5 4 4
Total Net Generation 98,600 99,347 91,743
Purchased Power:
Affiliated Companies — — —
Non-affiliated Companies 34,647 33,973 37,535
Total Purchased Power 34,647 33,973 37,535
Total Sources of Energy 133,246 133,320 129,278
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential 36,093 37,107 33,834
Commercial 28,754 29,426 28,745
Industrial 48,484 48,384 47,769
Governmental 2,578 2,581 2,511
Total Retail 115,909 117,498 112,859
Sales for Resale 13,210 11,715 11,550
Unbilled Energy (83 ) (513 ) 364
Total Electric Energy Sales 129,036 128,700 124,773
Line Losses and Company Usage 4,210 4,620 4,505
Total Uses of Energy 133,246 133,320 129,278
Electric Energy Sales (Weather Adjusted)(GWh):
Residential 35,446 35,876 35,692
Commercial 28,490 29,047 29,015
Industrial 48,483 48,384 47,769
Governmental 2,561 2,566 2,519
Total Weather Adjusted Sales 114,980 115,873 114,995
Peak Demand (MW) 21,598 21,587 21,671
Operational Summer Capacity at Peak (MW) 23,887 23,121 24,279
Annual System Load Factor (%) 64 65 62
Retail Electric Sales Growth Rate (%) (1.4 ) 4.1 0.2
Retail Electric Sales Weather-Adjusted Growth Rate (%) (0.8 ) 0.8 2.3
Average Fuel Cost (cents/KWh)
Natural Gas 2.33 2.84 2.60
Nuclear Fuel 0.73 0.84 0.86
Coal 2.31 2.24 2.35
Purchased Power 4.86 5.23 4.02
MISO Purchases 2.71 3.71 3.09
Certain prior year data has been reclassified to conform with current year presentation.
Totals may not foot due to rounding.
UTILITY STATISTICAL INFORMATION
2018 CONSOLIDATING UTILITY ELECTRIC STATISTICAL INFORMATION
E-LA E-MS E-NO E-TX SERI ELIMINATIONS UTILITY %
ELECTRIC OPERATING REVENUES ( thousands)
Residential 1,270,478 562,219 245,081 658,453 — — 3,531,500 37 %
Commercial 947,412 444,173 202,138 343,013 — — 2,475,586 26 %
Industrial 1,450,966 164,491 31,824 373,048 — — 2,541,288 27 %
Governmental 71,046 44,300 70,865 21,464 — — 228,470 2 %
Total Retail 3,739,902 1,215,183 549,908 1,395,978 — — 8,776,844 93 %
Sales for Resale 333,394 39,295 38,626 59,074 584,144 (1,026,623 ) 285,774 3 %
Other 149,731 68,566 5,883 33,902 (10,733 ) (5,791 ) 367,415 4 %
Total Electric Operating Revenues 4,223,027 1,323,044 594,417 1,488,954 573,410 (1,032,414 ) 9,430,033 100 %
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil 27,773 7,647 2,975 5,441 — — 52,672 40 %
Coal 1,100 1,411 — 821 — — 8,214 6 %
Nuclear 13,981 — — — 9,928 — 37,484 28 %
Hydro — — — — — — 224 — %
Solar — 2 3 — — — 5 — %
Total Net Generation 42,854 9,060 2,978 6,262 9,928 — 98,600 74 %
Purchased Power:
Affiliated Companies 3,608 3,971 4,401 2,847 — (18,405 ) — —
Non-affiliated Companies 17,959 2,752 572 12,242 — — 34,647 26 %
Total Purchased Power 21,567 6,723 4,973 15,089 — (18,405 ) 34,647 26 %
Total Sources of Energy 64,421 15,783 7,951 21,351 9,928 (18,405 ) 133,246 100 %
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential 14,046 5,659 2,353 6,039 — — 36,093 31 %
Commercial 11,353 4,698 2,215 4,667 — — 28,754 25 %
Industrial 29,801 2,443 438 8,043 — — 48,484 42 %
Governmental 827 436 815 259 — — 2,578 2 %
Total Retail 56,027 13,236 5,821 19,008 — — 115,909 100 %
Sales for Resale 6,738 1,776 1,961 1,815 9,940 (18,405 ) 13,210 —
Unbilled Energy (16 ) (78 ) 18 (31 ) — — (83 ) —
Total Electric Energy Sales 62,749 14,934 7,800 20,792 9,940 (18,405 ) 129,036 —
Line Losses and Company Usage 1,672 849 151 559 (12 ) — 4,210 —
Total Uses of Energy 64,421 15,783 7,951 21,351 9,928 (18,405 ) 133,246 —
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential 9.05 9.93 10.42 10.90 — — 9.78 —
Commercial 8.34 9.45 9.13 7.35 — — 8.61 —
Industrial 4.87 6.73 7.27 4.64 — — 5.24 —
Governmental 8.59 10.16 8.70 8.29 — — 8.86 —
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential 940,071 377,158 184,399 403,793 — — 2,500,736 85 %
Commercial 132,364 64,488 17,198 50,025 — — 359,395 12 %
Industrial 10,654 3,971 1,832 5,481 — — 45,320 2 %
Governmental 8,003 5,130 1,915 2,053 — — 17,768 1 %
Total Retail Customers 1,091,092 450,747 205,344 461,352 — — 2,923,219 100 %
Totals may not foot due to rounding.

All values are in US Dollars.

UTILITY STATISTICAL INFORMATION
ENTERGY ARKANSAS, LLC
2018 2017
ELECTRIC OPERATING REVENUES ( thousands)
Residential 807,098 768,389
Commercial 425,523 495,252
Industrial 434,387 471,958
Governmental 16,537 18,818
Total Retail 1,683,545 1,754,417
Sales for Resale 248,861 249,028
Other 128,238 136,474
Total Electric Operating Revenues 2,060,644 2,139,919
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil 8,983 8,079
Coal 6,263 5,563
Nuclear 12,721 12,693
Hydro 160 93
Total Net Generation 28,127 26,428
Purchased Power:
Affiliated Companies 2,255 2,403
Non-affiliated Companies 1,494 1,731
Total Purchased Power 3,749 4,134
Total Sources of Energy 31,876 30,562
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential 8,248 7,298
Commercial 5,967 5,825
Industrial 8,071 7,528
Governmental 239 237
Total Retail 22,525 20,888
Sales for Resale 8,220 8,331
Unbilled Energy (13 ) 43
Total Electric Energy Sales 30,732 29,262
Line Losses and Company Usage 1,144 1,300
Total Uses of Energy 31,876 30,562
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential 9.79 10.53
Commercial 7.13 8.50
Industrial 5.38 6.27
Governmental 6.92 7.94
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential 592,718 590,999
Commercial 94,640 93,910
Industrial 23,364 23,770
Governmental 769 751
Total Retail Customers 711,491 709,430
Totals may not foot due to rounding.

All values are in US Dollars.

UTILITY STATISTICAL INFORMATION
ENTERGY ARKANSAS, LLC
GENERATION PORTFOLIO
PLANT TOTAL PLANT – 2019
OWNED & AVG BTU TOTAL
LEASED PER KWH Emissions NET EXPENSES PRODUCTION
COMMERCIAL CAPABILITY FUEL NET SO2 NOx CO2 Hg GENERATION PER NET EXPENSE
PLANT UNIT OWNERSHIP OPERATION (MW)(a) TYPE PURPOSE GENERATION(d) (tons) (tons) (tons) (lbs) TECHNOLOGY(b) (MWH) MWH ($ thousands)
Lake Catherine 4 100 % 1970 522 Gas/Oil Peaking 12,352 1 191 104,346 127,496 184.7 23,543
Ouachita 1 100 % 2002 242 Gas Intermediate 7,291 3 67 542,140 Dry LNB, SCR 2,397,488 22.2 53,161
2 100 % 2002 244 Gas Intermediate 3 65 505,218 Dry LNB, SCR
Hot Spring 1 100 % 2002 600 Gas Intermediate 7,411 7 122 1,314,950 Dry LNB, SCR 2,937,708 24.8 72,779
Independence 1 31.5 % 1983 260 Coal Base 10,528 2,329 795 1,020,041 8 LNB w/Sep OFA, ESP, ACI 838,173 31.2 26,121
White Bluff 1 57 % 1980 464 Coal Base 10,619 5,886 1,819 2,596,682 20 OFA, ESP, ACI 4,058,101 27.9 113,088
2 57 % 1981 469 Coal Base 5,121 1,582 2,190,964 15 LNB w/Sep OFA, ESP, ACI —
Carpenter 1 100 % 1932 31 Hydro Peaking 171,629 10.5 1,808
2 100 % 1932 31 Hydro Peaking
Remmel 1 100 % 1925 4 Hydro Peaking 52,620 19.0 1,000
2 100 % 1925 4 Hydro Peaking
3 100 % 1925 4 Hydro Peaking
Union Power Station 2 100 % 2003 498 Gas Intermediate 7,238 7 147 1,405,716 Dry LNB, SCR 3,373,496 21.7 73,279
Arkansas 1 100 % 1974 831 Nuclear PWR(c) Base 10,352 13,574,636 26.4 358,607
Nuclear One 2 100 % 1980 979 Nuclear PWR(c) Base
Total 5,183 13,358 4,788 9,680,057 43 27,531,347 26.3 723,386
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Installed NOx and particulate matter and mercury emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2 or CO2 control equipment operating on any unit.
(c) PWR = Pressurized Water Reactor.
(d) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency
Total may not foot due to rounding.
UTILITY STATISTICAL INFORMATION
ENTERGY LOUISIANA, LLC
2018 2017
ELECTRIC OPERATING REVENUES ( thousands)
Residential 1,244,413 1,197,651
Commercial 941,321 955,539
Industrial 1,462,462 1,534,496
Governmental 68,587 68,707
Total Retail 3,716,783 3,756,393
Sales for Resale 356,603 341,632
Other 159,156 147,995
Total Electric Operating Revenues 4,232,542 4,246,020
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil 25,869 23,507
Coal 1,819 1,876
Nuclear 17,298 15,379
Hydro — —
Total Net Generation 44,986 40,762
Purchased Power:
Affiliated Companies 3,061 3,128
Non-affiliated Companies 17,211 19,984
Total Purchased Power 20,272 23,112
Total Sources of Energy 65,258 63,874
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential 14,494 13,357
Commercial 11,578 11,342
Industrial 29,254 29,754
Governmental 823 790
Total Retail 56,149 55,243
Sales for Resale 7,260 6,504
Unbilled Energy ) (64 ) 2
Total Electric Energy Sales 63,345 61,749
Line Losses and Company Usage 1,913 2,125
Total Uses of Energy 65,258 63,874
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential 8.59 8.97
Commercial 8.13 8.42
Industrial 5.00 5.16
Governmental 8.33 8.70
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential 933,809 929,024
Commercial 131,119 130,600
Industrial 10,745 10,830
Governmental 7,990 7,971
Total Retail Customers 1,083,663 1,078,425
Totals may not foot due to rounding.

All values are in US Dollars.

UTILITY STATISTICAL INFORMATION
ENTERGY LOUISIANA, LLC
GENERATION PORTFOLIO
PLANT TOTAL PLANT – 2019
OWNED & AVG BTU TOTAL
LEASED PER KWH Emissions NET EXPENSES PRODUCTION
COMMERCIAL CAPABILITY NET SO2 NOx CO2 Hg GENERATION PER NET EXPENSE
PLANT UNIT OWNERSHIP OPERATION (MW)(a) FUEL TYPE PURPOSE GENERATION(d) (tons) (tons) (tons) (lbs) TECHNOLOGY(b) (MWH) MWH ($ thousands)
Acadia 2 100 % 2002 534 Gas Intermediate 7,265 4 58 1,225,048 SCR 1,751,391 27.9 48,869
Little Gypsy 2 100 % 1966 415 Gas/Oil Intermediate 3 751 556,282 BOOS 2,719,628 35.3 95,978
3 100 % 1969 517 Gas/Oil Intermediate 5 2,603 461,931 BOOS/IFGR
Ninemile 4 100 % 1971 730 Gas/Oil Intermediate 9 4,602 1,756,130 BOOS/IFGR 5,840,464 30.4 177,347
5 100 % 1973 744 Gas/Oil Intermediate 8 3,733 1,052,780 BOOS/IFGR
6 100 % 2014 553 Gas/Oil Intermediate 7,138 8 160 1,731,342 SCR, Water/Steam Injection 4,002,853 26.7 106,834
Perryville 1 100 % 2002 526 Gas Intermediate 7,040 6 141 1,606,075 Dry LNB, SCR 2,896,015 25.5 73,930
2 100 % 2001 152 Gas Peaking — 2 31,298 Dry LNB 7,256
J. Wayne Leonard 1 100 % 2019 926 Gas Intermediate
Sterlington 7 100 % 1974 47 Gas/Oil Peaking — 8 4,861 482 1,620.4 781
Waterford 1 100 % 1975 411 Gas/Oil Intermediate 10,733 1 211 451,556 LNCB, FGR 673,704 56.1 3,786
2 100 % 1975 417 Gas/Oil Intermediate 1 399 550,616 LNCB, FGR
4 100 % 2009 33 Oil Peaking 3 7 9,782 Water/Steam Injection
LA Station 2 10 100 % 1950 — Gas Reserve — — 365
11 100 % 1950 — Gas Reserve
12 100 % 1953 — Gas Reserve
Roy S. Nelson 4 100 % 1970 — Gas/Oil Reserve Combus Mod/Fuel Reburn (12,421 ) 1,359
Calcasieu 1 100 % 2000 144 Gas Peaking 12,283 — 30 172,173 Dry LNB 59,767 153.0 9,142
2 100 % 2001 160 Gas Peaking — 26 60,854 Dry LNB 58,132
Ouachita 3 100 % 2002 241 Gas Intermediate 7,112 3 60 501,419 Dry LNB, SCR 1,213,793 22.8 27,694
Roy S. Nelson 6 40 % 1982 211 Coal Base 11,890 3,089 977 1,349,092 6 LNB w/ Sep OFA, ESP, ACI 720,470 40.3 29,062
Big Cajun 2 3 24 % 1983 139 Coal Base 10,734 1,322 270 908,127 6 LNB w/ OFA, ESP, ACI 379,214 40.7 15,446
River Bend 1 100 % 1986 967 Nuclear BWR(c) Base 10,896 6,420,310 32.4 207,996
Waterford 3 100 % 1985 1,177 Nuclear PWR(c) Base 10,879 7,560,402 30.1 227,576
Union Power Station 3 100 % 2003 506 Gas Intermediate 7,312 4 85 1,049,064 Dry LNB, SCR 1,908,829 66.1 153,960
4 100 % 2003 503 Gas Intermediate 6 128 1,079,728 Dry LNB, SCR 3,021,774
Total 10,051 4,473 14,252 13,410,964 12 39,222,063 30.2 1,322,019
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Low NOx Cell Burner (LNCB), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Water/Steam Injection, Flue Gas Recirculation (FGR), Induced Flue Gas Recirculation (IFGR), Burners-out-of-service (BOOS) and Activated Carbon Injection (ACI). Currently have no SO2 or CO2 control equipment operating on any unit.
(c) BWR = Boiling Water Reactor; PWR = Pressurized Water Reactor.
(d) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency
Totals may not foot due to rounding.
UTILITY STATISTICAL INFORMATION
ENTERGY MISSISSIPPI, LLC
2018 2017
ELECTRIC OPERATING REVENUES ( thousands)
Residential 578,568 502,305
Commercial 461,832 422,692
Industrial 175,056 158,649
Governmental 43,747 41,049
Total Retail 1,259,203 1,124,695
Sales for Resale 25,812 18,238
Other 50,097 55,296
Total Electric Operating Revenues 1,335,112 1,198,229
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil 7,318 6,727
Coal 2,421 1,904
Nuclear — —
Hydro — —
Solar 3 2
Total Net Generation 9,742 8,633
Purchased Power:
Affiliated Companies 2,502 2,667
Non-affiliated Companies 3,155 3,332
Total Purchased Power 5,657 5,999
Total Sources of Energy 15,399 14,632
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential 5,829 5,308
Commercial 4,865 4,783
Industrial 2,559 2,536
Governmental 438 421
Total Retail 13,691 13,048
Sales for Resale 1,060 857
Unbilled Energy ) (31 ) 22
Total Electric Energy Sales 14,720 13,927
Line Losses and Company Usage 679 705
Total Uses of Energy 15,399 14,632
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential 9.93 9.46
Commercial 9.49 8.84
Industrial 6.84 6.26
Governmental 9.99 9.75
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential 375,730 375,281
Commercial 64,719 64,583
Industrial 3,984 3,970
Governmental 5,169 5,066
Total Retail Customers 449,602 448,900
Totals may not foot due to rounding.

All values are in US Dollars.

UTILITY STATISTICAL INFORMATION
ENTERGY MISSISSIPPI, LLC
GENERATION PORTFOLIO
PLANT TOTAL PLANT – 2019
OWNED & AVG BTU TOTAL
LEASED PER KWH Emissions NET EXPENSES PRODUCTION
COMMERCIAL CAPABILITY NET SO2 NOx CO2 Hg GENERATION PER NET EXPENSE
PLANT UNIT OWNERSHIP OPERATION (MW)(a) FUEL TYPE PURPOSE GENERATION (tons) (tons) (tons) (lbs) TECHNOLOGY(b) (MWH) MWH ($ thousands)
Attala 1 100 % 2001 451 Gas Intermediate 7,046 4 69 696,835 Dry LNB, SCR 1,658,875 25.3 41,986
Hinds 1 100 % 2001 455 Gas Intermediate 7,095 7 118 1,312,792 Dry LNB, SCR 3,176,284 22.2 70,543
Baxter Wilson 1 100 % 1967 494 Gas/Oil Intermediate 10,614 197 1,811 947,943 Combus Mod/Fuel Reburn 1,537,393 32.2 49,449
Choctaw 1 100 % 2003 796 Gas Intermediate 6,911 1 22 261,967 656,617 24.4 16,017
Gerald Andrus 1 100 % 1975 727 Gas/Oil Intermediate 12,617 2 730 401,689 OFA 534,554 60.4 32,313
Rex Brown 4 100 % 1959 — Gas/Oil Retired 13,827 — 164 84,851 84,274 40.3 3,400
5 100 % 1968 — Oil Retired
Independence 1 25 % 1983 206 Coal Base 10,667 1,848 631 809,556 6 LNB w/Sep OFA, ESP, ACI 663,534 63.6 42,175
2 25 % 1984 210 Coal Base 2,116 635 915,165 7 OFA, ESP, ACI 747,209
DeSoto Solar 1 100 % 2015 0.4 Solar N/A 512 0.2 —
Brookhaven Solar 1 100 % 2015 0.4 Solar N/A 543 .2 —
Hinds Solar 1 100 % 2015 0.4 Solar N/A 664 .1 —
Total 3,341 4,176 4,178 5,430,797 13 9,060,459 28.2 255,884
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plan and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2, or CO2 control equipment operating on any unit.
Totals may not foot due to rounding.
UTILITY STATISTICAL INFORMATION
ENTERGY NEW ORLEANS, LLC
2018 2017
ELECTRIC OPERATING REVENUES ( thousands)
Residential 261,585 250,164
Commercial 217,182 227,835
Industrial 33,371 35,642
Governmental 72,057 77,098
Total Retail 584,195 590,739
Sales for Resale 29,506 29,027
Other 11,031 11,978
Total Electric Operating Revenues 624,732 631,744
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil 2,735 2,675
Coal — —
Nuclear — —
Hydro — —
Solar 1 2
Total Net Generation 2,736 2,677
Purchased Power:
Affiliated Companies 3,912 3,874
Non-affiliated Companies 871 921
Total Purchased Power 4,783 4,795
Total Sources of Energy 7,519 7,472
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential 2,401 2,155
Commercial 2,270 2,248
Industrial 448 429
Governmental 795 790
Total Retail 5,914 5,622
Sales for Resale 1,484 1,703
Unbilled Energy (329 ) 28
Total Electric Energy Sales 7,069 7,353
Line Losses and Company Usage 450 119
Total Uses of Energy 7,519 7,472
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential 10.89 11.61
Commercial 9.57 10.14
Industrial 7.45 8.31
Governmental 9.06 9.76
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential 181,633 179,754
Commercial 16,908 16,505
Industrial 1,940 2,110
Governmental 1,889 1,883
Total Retail Customers 202,370 200,252
Totals may not foot due to rounding.
On Sept. 1, 2015, E-LA transferred its Algiers assets to E-NO. The effect of the Algiers transfer has been retrospectively applied to E-NO's data presented above.

All values are in US Dollars.

UTILITY STATISTICAL INFORMATION
ENTERGY NEW ORLEANS, LLC
GENERATION PORTFOLIO
PLANT TOTAL PLANT – 2019
OWNED & AVG BTU TOTAL
LEASED PER KWH Emissions NET EXPENSES PRODUCTION
COMMERCIAL CAPABILITY NET SO2 NOx CO2 Hg GENERATION PER NET EXPENSE
PLANT UNIT OWNERSHIP OPERATION (MW)(a) FUEL TYPE PURPOSE GENERATION (tons) (tons) (tons) (lbs) TECHNOLOGY(b) (MWH) MWH ($ thousands)
Union Power Station 1 100 % 2003 507 Gas Intermediate 7,274 6 126 1,254,501 Dry LNB, SCR 2,974,504 23.9 71,019
New Orleans Solar 1 100 % 2016 1 Solar N/A 1,538 37.2 57
Total 508 6 26 1,254,501 2,976,042 23.9 71,077
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2or CO2 control equipment operating on any unit.
Totals may not foot due to rounding.
SYSTEM ENERGY RESOURCES, INC.
--- --- --- --- --- --- ---
2019 2018 2017
ELECTRIC OPERATING REVENUES ($ thousands) 573,410 456,707 633,458
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil — —
Coal — —
Nuclear 9,928 6,223 6,623
Hydro — —
Total Net Generation 9,928 6,223 6,623
Purchased Power — —
Total Sources of Energy 9,928 6,223 6,623
USES OF ENERGY (GWh)
Electric Energy Sales 9,940 6,264 6,675
Unbilled Energy — —
Line Losses and Company Usage (12 ) (41 ) (52 )
Total Uses of Energy 9,928 6,223 6,623
Totals may not foot due to rounding.
SYSTEM ENERGY RESOURCES, INC.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
GENERATION PORTFOLIO
PLANT TOTAL PLANT – 2019
OWNED & AVG BTU TOTAL
LEASED PER KWH Emissions NET EXPENSES PRODUCTION
COMMERCIAL CAPABILITY NET SO2 NOx CO2 Hg GENERATION PER NET EXPENSE
PLANT UNIT OWNERSHIP OPERATION (MW)(a) FUEL TYPE PURPOSE GENERATION(c) (tons) (tons) (tons) (lbs) TECHNOLOGY (MWH) MWH ($ thousands)
Grand Gulf 1 90% 1985 1,253 Nuclear BWR(b) Base 10,410 — — — — 9,928,077 27.9 276,515
Total 1,253 9,928,077 27.9 276,515
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) BWR = Boiling Water Reactor.
(c) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency
Totals may not foot due to rounding.
UTILITY STATISTICAL INFORMATION
ENTERGY TEXAS, INC.
2018 2017
ELECTRIC OPERATING REVENUES ( thousands)
Residential 673,858 636,254
Commercial 380,619 378,453
Industrial 393,951 383,814
Governmental 24,953 24,901
Total Retail 1,473,381 1,423,422
Sales for Resale 97,478 79,694
Other 35,043 41,777
Total Electric Operating Revenues 1,605,902 1,544,893
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil 6,188 5,233
Coal 1,345 1,387
Nuclear — —
Hydro — —
Total Net Generation 7,533 6,620
Purchased Power:
Affiliated Companies 3,321 2,711
Non-affiliated Companies 11,242 11,567
Total Purchased Power 14,563 14,278
Total Sources of Energy 22,096 20,898
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential 6,135 5,716
Commercial 4,747 4,548
Industrial 8,052 7,521
Governmental 286 273
Total Retail 19,220 18,058
Sales for Resale 2,478 2,263
Unbilled Energy ) (76 ) 269
Total Electric Energy Sales 21,622 20,590
Line Losses and Company Usage 474 308
Total Uses of Energy 22,096 20,898
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential 10.98 11.13
Commercial 8.02 8.32
Industrial 4.89 5.10
Governmental 8.72 9.12
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential 397,137 391,613
Commercial 49,232 48,591
Industrial 5,757 5,513
Governmental 2,022 2,157
Total Retail Customers 454,148 447,874
Totals may not foot due to rounding.

All values are in US Dollars.

UTILITY STATISTICAL INFORMATION
ENTERGY TEXAS, INC.
GENERATION PORTFOLIO
PLANT TOTAL PLANT – 2019
OWNED & AVG BTU TOTAL
LEASED PER KWH Emissions NET EXPENSES PRODUCTION
COMMERCIAL CAPABILITY NET SO2 NOx CO2 Hg GENERATION PER NET EXPENSE
PLANT UNIT OWNERSHIP OPERATION (MW)(a) FUEL TYPE PURPOSE ^GENERATION^ (tons) (tons) (tons) (lbs) TECHNOLOGY(b) (MWH) MWH ($ thousands)
Roy S. Nelson 6 30% 1982 156 Coal Base 12,153 2,283 722 704,503 4 LNB w/ Sep OFA, ESP, ACI 532,521 42.9 22,852
Big Cajun 2 3 18% 1983 103 Coal Base 9,966 977 199 342,062 1 LNB w/ OFA, ESP, ACI 288,142 39.9 11,484
Lewis Creek 1 100% 1970 249 Gas/Oil Intermediate 10,740 3 134 641,782 SCR 2,192,154 32.3 70,817
2 100% 1971 254 Gas/Oil Intermediate 3 139 670,795 SCR
Sabine 1 100% 1962 212 Gas/Oil Intermediate 10,506 1 242 193,256 3,249,202 37.3 121,218
3 100% 1966 359 Gas/Oil Intermediate 2 320 427,428 LNB w/ Sep OFA
4 100% 1974 513 Gas Intermediate 5 1,586 973,011 Combus Mod/Fuel Reburn
5 100% 1979 447 Gas/Oil Intermediate 2 336 462,580 LNB w/ Closed-coupled OFA
Total 2,292 3,277 3,678 4,415,416 5 6,262,019 36.1 226,371
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2or CO2 control equipment operating on any unit.
Totals may not foot due to rounding.
UTILITY STATISTICAL INFORMATION
UTILITY NUCLEAR PLANT STATISTICS
The following table shows plant performance for 2017 – 2019 based on 18/24 month operating cycle.
CAPABILITY FACTOR (%) 2019 2018 2017
ANO 82.9 85.3 78.0
Grand Gulf 76.4 62.9 55.4
River Bend 79.8 83.3 83.3
Waterford 3 82.4 99.6 88.5
Entergy Southeast Average 80.9 83.3 76.6
Industry Average 93.4 93.2 92.9
The following table shows plant performance for 2019 and average for one three-year period.
--- --- ---
PRODUCTION COST ($/MWh) (a) 2019 2016-2018
ANO 26.4 30.5
Grand Gulf 27.8 36.8
River Bend 32.4 31.1
Waterford 3 30.1 24.5
Entergy Southeast Average 29.2 30.2
(a) Fuel and other operation and maintenance expenses according to accounting standards that directly relate to the production of electricity per MWh; excludes special items.
INDIVIDUAL PLANT INFORMATION
--- --- --- --- ---
GRAND GULF RIVER BEND WATERFORD 3
UNIT 2
Owner Entergy Arkansas System Energy - 90%<br><br>Cooperative Energy - 10% Entergy Louisiana Entergy Louisiana
Commercial Operation Date March 80 July 85 June 86 September 85
License Expiration Date 7/17/2038 11/1/2044 8/29/2045 12/18/2044
Architect/Engineer Bechtel Power Bechtel Power Stone & Webster Ebasco
Reactor Manufacturer Combustion<br><br>Engineering General Electric General Electric Combustion<br><br>Engineering
Reactor Type PWR BWR BWR PWR
Turbine Generator Manufacturer General Electric Kraftwerk Union General Electric Westinghouse
Owned and Leased Capability (MW)(a) 985 1,272 967 1,165
Refueling Data:
Last Date 3/14/20 – 2/22/20 – 3/30/19 – 1/5/19 –
4/21/2020 5/23/2020 5/13/2019 3/18/2019
Number of Days 39 91 45 73
Next Scheduled Refueling Fall 21 Spring 22 Spring 21 Fall 20
2019 Capability Factor (%) 75.5 76.4 79.8 82.4
( in millions as of December 31, 2019)
Net Book Value 1,787 2,082(c) 2,535
Decommissioning Trust Fair Values 1,054 976(c) 588
Decommissioning Liability 932 662(c) 808
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) ANO Units 1 and 2 are reported together.
(c) 30% of River Bend is not subject to rate regulation by the Public Utility Commission of Texas, the Louisiana Public Service Commission, nor various municipal authorities, and is included in non-utility property on the balance sheet. The decommissioning trust fund balance and decommissioning liability include amounts for the 30% not subject to rate regulation.

All values are in US Dollars.

UTILITY REGULATORY INFORMATION
STATE REGULATORY COMMISSIONS
ARKANSAS LOUISIANA MISSISSIPPI NEW ORLEANS TEXAS
Commission Arkansas Public Louisiana Mississippi New Orleans Public Utility
Service Public Service Public Service City Council Commission
Commission Commission Commission of Texas
Number of Commissioners 3 5 3 7 3
Method of Selection Appointed by Elected Elected Elected Appointed by
Governor Governor
Term of Office 6 years – 6 years – 4 years – 4 years – 6 years –
staggered staggered concurrent concurrent staggered
(2 term limit)
Chair/President Appointed by Selected by Rotates every Rotates annually Appointed by
Governor peers – 1 year 1 - 2 years, as from the Governor
term determined by members at-large positions
COMMISSION/COUNCIL MEMBERS
--- --- --- ---
CURRENT
PARTY SERVICE BEGAN TERM ENDS
ARKANSAS
Ted J. Thomas – Chairperson Republican 1/15 1/21
Kimberly A. O'Guinn Republican 1/17 1/23
Justin Tate Republican 1/19 1/25
LOUISIANA
Mike Francis - Chairperson Republican 11/16 12/22
Foster L. Campbell, Jr. Democrat 1/03 12/20
Eric Skrmetta Republican 1/09 12/20
Craig Greene - Vice-Chairperson Republican 6/17 12/24
Lambert C. Boissiere, III Democrat 1/05 12/22
MISSISSIPPI
Dane Maxwell – Chairperson Democrat 1/20 12/23
Brent Bailey Republican 1/20 12/23
Brandon Presley Democrat 1/08 12/23
NEW ORLEANS
Helena Moreno - Chairperson of Utility Committee Democrat 5/18 5/22
Jason Rogers Williams Democrat 5/14 5/22
Jared Brossett Democrat 5/14 5/22
Joseph Giarrusso Democrat 5/18 5/22
Jay Banks Democrat 5/18 5/22
Kristin Gisleson Palmer Democrat 5/18 5/22
Cyndi Nguyen Democrat 5/18 5/22
TEXAS
DeAnn Walker - Chairperson Republican 9/17 9/21
Arthur D'Andrea Republican 11/17 9/23
Shelly Botkin Republican 6/18 9/25
3/27/2020
ENTERGY WHOLESALE COMMODITIES
EWC QUARTERLY FINANCIAL METRICS
2019 2018 FY
($ millions) 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY CHANGE
GAAP MEASURES
As-Reported Earnings 97 (25 ) (141 ) 218 149 (18 ) (56 ) 106 (372 ) (340 ) 489
NON-GAAP MEASURES
Adjusted EBITDA 92 2 (127 ) 20 (13 ) 86 (37 ) (52 ) (199 ) (202 ) 189
EWC ANNUAL FINANCIAL METRICS
--- --- --- --- --- --- ---
($ millions) 2019 2018 2017
GAAP MEASURES
As-Reported Earnings 149 (340 ) (175 )
NON-GAAP MEASURES
Adjusted EBITDA (13 ) (202 ) 557
EWC QUARTERLY OPERATIONAL METRICS
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
2019 2018 FY
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY % CHANGE
Owned Capacity (MW) (a) 3,962 3,274 3,274 3,274 3,274 3,962 3,962 3,962 3,962 3,962 (17 )%
GWh billed 7,203 7,258 6,847 6,780 28,088 7,885 7,281 7,576 8,022 30,764 (9 )%
EWC Nuclear
Capacity Factor 85 % 92 % 98 % 99 % 94 % 83 % 86 % 90 % 78 % 84 % 11 %
GWh billed 6,690 6,703 6,210 6,326 25,929 6,408 6,713 6,976 7,520 27,617 (6 )%
Production cost per MWh (b) $ 20.04 $ 24.82 $ 15.68 $ 17.71 $ 18.29 $ 18.75 $ 17.15 $ 17.15 $ 18.79 $ 17.68 3 %
(a) Pilgrim (688 MW) was shutdown May 31, 2019 and sold on August 26,2019.
(b) Fuel and O&M expenses according to accounting standards that directly relate to the production of electricity per MWh (based on net generation), excluding special items.
Totals may not foot due to rounding.
EWC ANNUAL OPERATIONAL METRICS
--- --- --- --- --- --- --- --- --- ---
2019 2018 2017
Owned Capacity (MW) (a) 3,274 3,962 3,962
GWh billed 28,088 30,764 30,501
EWC Nuclear
Capacity Factor 93 % 83 % 83 %
GWh billed 25,929 27,617 28,178
Production cost per MWh (b) $ 18.29 $ 17.68 $ 18.70
Totals may not foot due to rounding.
(a) James A. FitzPatrick Nuclear Station (838 MW) was sold in March 2017; Pilgrim (688 MW) was shutdown May 31, 2019 and sold on August 26, 2019.
(b) Fuel and other O&M expenses according to accounting standards that directly relate to the production of electricity per MWh (based on net generation), excluding special items.
EWC TOTAL CAPACITY
OPERATED (a) OWNED CAPACITY
As of December 31, 2019 PLANTS UNITS MW MW %
Gas/Oil — — — 213 7
Coal — — — 181 6
Total Fossil — — — 394 12
Nuclear 3 4 3,680 2,880 88
Total Capacity 3 4 3,680 3,274 100
Totals may not foot due to rounding.
(a) Operated capacity includes management services contracts and excludes units operated by Entergy’s utility companies.
ENTERGY WHOLESALE COMMODITIES
EWC NUCLEAR PLANT STATISTICS
PALISADES
NUCLEAR
UNIT 3 PLANT
Entergy Purchase Date 11/21/00 4/11/07
Commercial Operation Date August 76 December 71
License Expiration Date 4/30/25 3/24/31
Architect/Engineer United Engineers & Constructors Combustion Engineering
Reactor Manufacturer Westinghouse Combustion Engineering
Reactor Type PWR PWR
Turbine Generator Manufacturer Westinghouse Westinghouse
Net MWs in Operation (MW) 1,041 811
Refueling Data:
Last Date 3/11/19 – 10/28/18 –
4/9/19 12/28/18
Number of Days 29 61
Upcoming Refueling Outages Summer 20
2019 Capacity Factor % 91% 97 %
Net Book Value of Plant and   Related Assets (a) 60
( in millions as of December 31, 2019)
Capacity Zone (ICAP/UCAP) NYISO<br><br>Lower Hudson Valley MISO
Nearest Market Hub Zone G (b) Indiana
(a) Entergy's adjusted investment in the companies being sold, with Indian Point as a combined total.
(b) Indian Point physically located in NYISO Zone H.

All values are in US Dollars.

EWC NUCLEAR PLANT ADDITIONAL INFORMATION
PALISADES PILGRIM
NUCLEAR NUCLEAR
UNIT 2 UNIT 3 PLANT STATION
Decommissioning Trust Asset 701 930 498 —
Decommissioning Liability 829 808 590 (a) —
( in millions as of December 31, 2019)
Planned closing date 4/30/20 4/30/21 5/31/2022 n/a (c)
(a) Includes 40 million for Big Rock Point.
(b) Indian Point 1 has been shut down and in safe storage since the 1970s.
(c) Pilgrim was shutdown May 31, 2019 and sold on August 26,2019.

All values are in US Dollars.

EWC NON-NUCLEAR WHOLESALE ASSETS PLANT STATISTICS
NERC COMMERCIAL OWNERSHIP NET TOTAL FUEL TYPE
PLANT REGION OPERATION INTEREST MW MW TECHNOLOGY
Independence – Unit 2 SERC 1983 14% 121 842 Coal
Nelson 6 SERC 1982 11% 60 550 Coal
RS Cogen SERC 2002 50% 213 425 CCGT Cogen
Total 394 1,817
EWC NON-NUCLEAR WHOLESALE ASSETS PLANT EMISSIONS
Emissions
PLANT PURPOSE SO2 (tons) NOx (tons) Co2 (tons) Hg (lbs) TECHNOLOGY (a)
Independence – Unit 2 Base 1,216 365 526,037 2 OFA, ESP, ACI
Nelson 6 Base 836 265 258,120 2 LNB w Sep OFA, ESP, ACI
RS Cogen Base 4 395 873,994 — Dry LNB/SCR
(a) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Overfire Air (OFA), Electrostatic Precipitator (ESP), Activated Carbon Injection (ACI), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Dry Low NOx Burners (Dry LNB), and Selective Catalytic Reduction (SCR) or Steam Injection.
Currently have no SO2 or CO2 control equipment operating on any unit.
Totals may not foot due to rounding.
EWC NON-NUCLEAR WHOLESALE ASSETS
EWC NON-NUCLEAR WHOLESALE ASSETS SECURITIES DETAIL
DEBT:
OUTSTANDING AS OF DECEMBER 31,
ENTERGY’S SHARE
($ millions) 2019 2018 MATURITY RATE
RS Cogen Senior Project Debt
Bank Portion(a) $— $— 10/17/2018 LIBOR + 2.25%
Institutional Portion $26 $35 10/15/2022 Fixed 8.73%
RS Cogen Subordinated Debt(b) $28 $26 10/17/2017 LIBOR + 4.50%
(a) RS Cogen spread on bank portion increases over time from 1.375% to 2.375%.
(b) Debt outstanding includes Entergy's portion of accrued but unpaid interest on Entergy's portion of the RS Cogen subordinated debt since the project went into default on the subordinated credit facility in 2008.
VERMONT YANKEE CREDIT FACILITY
--- --- --- --- --- --- ---
OUTSTANDING AS OF DECEMBER 31, 2019 2018
% $139 139
SHARES OUTSTANDING
PREFERRED STOCK: AS OF DECEMBER 31,
( millions) 2019 2018 2018
Without Sinking Fund:
Entergy Finance Holding, Inc. 250,000 250,000 24 $ 24
Authorized 250,000 shares, 100 par value, cumulative
Total without sinking fund 250,000 250,000 24 $ 24
(a) Dollar amount outstanding is net of 751 thousand of preferred stock issuance costs.

All values are in US Dollars.

DEFINITIONS OF OPERATIONAL MEASURES AND GAAP AND NON-GAAP FINANCIAL MEASURES
OPERATIONAL MEASURES
Owned capacity (MW) Installed capacity owned by EWC
Production cost per MWh Fuel and other O&M expenses according to accounting standards that directly relate to the production of
electricity per MWh (based on net generation)
Billed electric energy sales (GWh billed) Total number of GWh billed to customers and financially-settled instruments
Capability factor The percentage of the maximum energy generation a plant is capable of supplying to the grid, limited
only by factors within control of plant management; a high capability factor indicates effective plant
programs and practices to minimize unplanned energy losses and to optimize planned outages
Capacity factor Normalized percentage of the period that the nuclear plants generate power
Refueling outage days Number of days lost for a scheduled refueling and maintenance outage during the period
Financial measures defined below include measures prepared in accordance with generally accepted accounting principles (GAAP), as well as non-GAAP measures.
Non-GAAP measures are included in this report in order to provide metrics that remove the effect of less routine financial impacts from commonly used financial metrics.
FINANCIAL MEASURES – GAAP
Return on average invested capital (ROIC) – as-reported 12-months rolling net income attributable to Entergy Corporation or subsidiary adjusted for preferred
dividends and tax-effected interest expense divided by average invested capital
Return on average common equity (ROE) – as-reported 12-months rolling net income attributable to Entergy Corporation or subsidiary divided by average common equity
Return on average member's equity – as-reported 12-months rolling attributable to Entergy Corporation or subsidiary divided by average member's equity
Common dividend payout – as-reported Common dividend paid per share divided by earnings per share
Revolver capacity Amount of undrawn capacity remaining on corporate and subsidiary revolvers
Total debt Sum of short-term and long-term debt, notes payable and commercial paper, and capital leases on the balance sheet
Debt of joint ventures – Entergy’s share Entergy's share of debt issued by business joint ventures at EWC
Leases - Entergy’s share Operating leases held by subsidiaries capitalized at implicit interest rate
Debt to capital Total debt divided by total capitalization
Securitization debt Debt on the balance sheet associated with securitization bonds that is secured by certain future customer collections
FINANCIAL MEASURES – NON-GAAP
Adjusted earnings As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments
Adjusted EBITDA Earnings before interest, income taxes, depreciation and amortization, excluding interest and investment income and decommissioning
expense for EWC
Adjusted EPS As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments, divided by the diluted average
number of common shares outstanding
Adjustments Unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business
of Entergy, such as the results of the EWC segment, significant tax items, and other items such as certain costs, expenses,
or other specified items
Common dividend payout – adjusted Common dividend paid per share divided by adjusted earnings per share
Return on average invested capital (ROIC) – adjusted 12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary adjusted for preferred dividends and tax-
effected interest expense divided by average invested capital
Return on average common equity (ROE) – adjusted 12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary divided by average common equity
Return on average member's equity – adjusted 12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary divided by average member's equity
Gross liquidity Sum of cash and available revolver capacity
Total debt, excluding securitization debt Total debt, excluding securitization debt
Debt to capital, excluding securitization debt Total debt divided by total capitalization, excluding securitization debt
Net debt to net capital, excluding securitization debt Total debt less cash and cash equivalents divided by total capitalization less cash and cash equivalents,
excluding securitization debt
Parent debt to total debt, excluding securitization debt End of period Entergy Corporation debt, including amounts drawn on credit revolver and commercial paper facilities, as a
percent of consolidated total debt, excluding securitization debt
FFO OCF less AFUDC-borrowed funds, working capital items in OCF (receivables, fuel inventory, accounts payable, taxes accrued,
interest accrued, and other working capital accounts), and securitization regulatory charges
FFO to debt, excluding securitization debt 12-months rolling adjusted FFO as a percentage of end of period total debt excluding securitization debt
FFO to debt, excluding securitization debt, return of unprotected 12-months rolling adjusted FFO excluding return of unprotected excess ADIT and severance and retention payments
excess ADIT, and severance and retention payments associated associated with exit of EWC as a percentage of end of period total debt excluding securitization debt
with exit of EWC
REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
( millions) 2018 2017
As-reported net income (loss) attributable to Entergy Corporation (A) 849 412
Preferred dividends 14 14
Tax-effected interest expense 527 407
As-reported net income (loss) attributable to Entergy Corporation
adjusted for preferred dividends and tax-effected interest expense (B) 1,390 833
Adjustments (C) (121 ) (303 )
EWC preferred dividends and tax-effected interest expense, rolling 12 months 29 18
Total adjustments, adding back EWC preferred dividends and
tax-effected interest expense (non-GAAP) (D) (92 ) (285 )
Adjusted earnings, (non-GAAP) (A-C) 970 715
Adjusted earnings, including preferred dividends and
tax-effected interest expense (non-GAAP) (B-D) 1,482 1,118
Average invested capital (E) 26,032 24,213
Average common equity (F) 8,418 8,037
( per share)
As-reported earnings per share (N) 4.63 2.28
Adjusted earnings per share (O) 5.29 3.96
Common dividend paid per share (P) 3.58 3.50
(%)
ROIC – As-reported (B/E) 5.3 3.4
ROIC – Adjusted (non-GAAP) ((B-D)/E) 5.7 4.6
ROE – As-reported (A/F) 10.1 5.1
ROE – Adjusted (non-GAAP) ((A-C)/F) 11.5 8.9
Common dividend payout – As-reported % (P/N) 77 154
Common dividend payout – Adjusted % (P/O) 68 88
Calculations may differ due to rounding.

All values are in US Dollars.

REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q18-4Q19
($ millions) 1Q19 2Q19 3Q19 4Q19 1Q18 2Q18 3Q18 4Q18
As-reported net income (loss) attributable to Entergy Corporation, rolling 12 970 961 790 1,241 462 297 435 849
months (A)
Preferred dividends 15 15 16 17 14 14 14 14
Tax-effected interest expense 539 543 548 554 499 510 520 527
As-reported net income (loss) attributable to Entergy Corporation, rolling 12
months adjusted for preferred dividends and tax-effected interest expense (B) 1,524 1,519 1,354 1,812 975 821 969 1,390
Adjustments, rolling 12 months (C) (6 ) (18 ) (264 ) 177 (294 ) (531 ) (481 ) (121 )
EWC preferred dividends and tax-effected interest expense, rolling 12 months 30 30 27 25 22 24 27 29
Total adjustments, adding back EWC preferred dividends and
tax-effected interest expense (non-GAAP) (D) 24 12 (237 ) 202 (272 ) (507 ) (454 ) (92 )
Adjusted earnings, rolling 12 months (non-GAAP) (A-C) 976 979 1,054 1,064 756 828 916 970
Adjusted earnings, rolling 12 months including preferred dividends and
tax-effected interest expense (non-GAAP) (B-D) 1,501 1,507 1,591 1,610 1,247 1,328 1,423 1,482
Average invested capital (E) 27,184 27,586 28,413 28,780 24,862 25,480 26,107 26,032
Average common equity (F) 8,473 8,910 9,224 9,534 8,016 8,197 8,551 8,418
(%)
ROIC – As-reported (B/E) 5.6 5.5 4.8 6.3 3.9 3.2 3.7 5.3
ROIC – Adjusted (non-GAAP) ((B-D)/E) 5.5 5.5 5.6 5.6 5.0 5.2 5.5 5.7
ROE – As-reported (A/F) 11.4 10.8 8.6 13.0 5.8 3.6 5.1 10.1
ROE – Adjusted (non-GAAP) ((A-C)/F) 11.5 11.0 11.4 11.2 9.4 10.1 10.7 11.5
Calculations may differ due to rounding.
REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
($ millions) 2019 2018 2017
Total debt (A) 19,885 18,133 16,677
Less securitization debt (B) 298 424 545
Total debt, excluding securitization debt (A-B) 19,587 17,709 16,132
Less cash and cash equivalents (C) 426 481 781
Net debt, excluding securitization debt (A-B-C) 19,161 17,228 15,351
Total capitalization (D) 30,363 27,196 24,867
Less securitization debt (E) 298 424 545
Total capitalization, excluding securitization debt (D-E) 30,065 26,772 24,322
Less cash and cash equivalents (F) 426 481 781
Net capitalization, excluding securitization debt (D-E-F) 29,639 26,291 23,541
(%)
Debt to capital (A/D) 65.5 66.7 67.1
Debt to capital, excluding securitization debt ((A-B)/D-E)) 65.1 66.1 66.3
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F)) 64.6 65.5 65.2
Revolver capacity (G) 3,810 4,056 4,174
Gross liquidity (C+G) 4,236 4,537 4,955
Entergy Corporation notes:
Due September 2020 450 450 450
Due July 2022 650 650 650
Due September 2026 750 750 750
Total parent long-term debt (H) 1,850 1,850 1,850
Revolver draw (I) 440 220 210
Commercial paper (J) 1,947 1,942 1,467
Unamortized debt issuance and discounts (K) (8 ) (10 ) (11 )
Total parent debt (H)+(I)+(J)+(K) 4,229 4,002 3,516
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B) 21.6 22.6 21.8
Calculations may differ due to rounding.
REG G RECONCILIATIONS
1Q18-4Q19
($ millions) 1Q19 2Q19 3Q19 4Q19 1Q18 2Q18 3Q18 4Q18
Total debt (A) 19,325 19,054 19,441 19,885 17,680 17,881 18,485 18,133
Less securitization debt (B) 398 360 338 298 520 483 463 424
Total debt, excluding securitization debt (A-B) 18,927 18,694 19,103 19,587 17,160 17,398 18,022 17,709
Less cash and cash equivalents (C) 983 636 956 426 1,206 813 988 481
Net debt, excluding securitization debt (A-B-C) 17,994 18,058 18,147 19,161 15,954 16,585 17,034 17,228
Total capitalization (D) 28,515 29,071 29,730 30,363 25,853 26,102 27,095 27,196
Less securitization debt (E) 398 360 338 298 520 483 463 424
Total capitalization, excluding securitization debt (D-E) 28,117 28,711 29,392 30,065 25,333 25,619 26,632 26,772
Less cash and cash equivalents (F) 983 636 956 426 1,206 813 988 481
Net capitalization, excluding securitization debt (D-E-F) 27,134 28,075 28,436 29,639 24,127 24,806 25,644 26,291
(%)
Debt to capital (A/D) 67.8 65.5 65.4 65.5 68.4 68.5 68.2 66.7
Debt to capital, excluding securitization debt ((A-B)/D-E)) 67.3 65.1 65.0 65.1 67.7 67.9 67.7 66.1
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F)) 66.1 64.3 63.8 64.6 66.1 66.9 66.4 65.5
Revolver capacity (G) 3,950 4,120 4,115 3,810 3,010 3,885 3,653 4,056
Gross liquidity (C+G) 4,933 4,756 5,071 4,236 4,216 4,698 4,641 4,537
Entergy Corporation notes:
Due September 2020 450 450 450 450 450 450 450 450
Due July 2022 650 650 650 650 650 650 650 650
Due September 2026 750 750 750 750 750 750 750 750
Total parent long-term debt (H) 1,850 1,850 1,850 1,850 1,850 1,850 1,850 1,850
Revolver draw (I) 320 150 155 440 1,125 390 630 220
Commercial paper (J) 1,942 1,635 1,918 1,947 655 1,945 1,947 1,942
Unamortized debt issuance and discounts (K) (9 ) (9 ) (10 ) (8 ) (11 ) (11 ) (10 ) (10 )
Total parent debt (H)+(I)+(J)+(K) 4,103 3,626 3,913 4,229 3,619 4,174 4,417 4,002
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B) 21.7 19.4 20.5 21.6 21.1 24 24.5 22.6
Calculations may differ due to rounding.
REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
($ millions) 2019 2018 2017
Total debt (A) 19,885 18,133 16,677
Less securitization debt (B) 298 424 545
Total debt, excluding securitization debt (C) 19,587 17,709 16,132
Net cash flow provided by operating activities, rolling 12 months (D) 2,817 2,385 2,624
Allowance for borrowed funds used during construction, rolling 12 months (E) (65 ) (61 ) (45 )
Working capital items in net cash flow provided by operating activities, rolling 12 months:
Receivables (101 ) 99 (98 )
Fuel inventory (28 ) 46 (3 )
Accounts payable (72 ) 97 102
Taxes accrued (21 ) 39 34
Interest accrued 1 5 1
Other working capital accounts (3 ) (164 ) (4 )
Securitization regulatory charges 122 124 116
Total (F) (102 ) 246 148
FFO, rolling 12 months (G) = (D)+(E)-(F) 2,854 2,078 2,431
FFO to debt, excluding securitization debt (G)/(C) 14.6 % 11.7 % 15.1 %
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H) 301 592 —
Severance and retention payments associated with exit of<br><br>EWC (rolling 12 months pre-tax) (I) 141 43 100
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC [(G+H+I)/(C)] 16.8 % 15.3 % 15.7 %
Calculations may differ due to rounding.
REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q18-4Q19
($ millions) 1Q19 2Q19 3Q19 4Q19 1Q18 2Q18 3Q18 4Q18
Total debt (A) 19,325 19,054 19,441 19,885 17,680 17,881 18,485 18,133
Less securitization debt (B) 398 360 338 298 520 483 463 424
Total debt, excluding securitization debt (C) 18,927 18,694 19,103 19,587 17,160 17,398 18,022 17,709
Net cash flow provided by operating activities, rolling 12 months (D) 2,329 2,358 2,644 2,817 2,652 2,884 2,770 2,385
Allowance for borrowed funds used during construction, rolling 12 months (E) (65 ) (67 ) (67 ) (65 ) (49 ) (53 ) (57 ) (61 )
Working capital items in net cash flow provided by operating activities, rolling 12 months:
Receivables 7 17 21 (101 ) (123 ) (149 ) (53 ) 99
Fuel inventory 58 24 (18 ) (28 ) (26 ) (1 ) 26 46
Accounts payable 103 (19 ) (158 ) (72 ) 81 190 258 97
Prepaid taxes and taxes accrued 51 9 (7 ) (21 ) 36 28 10 39
Interest accrued (5 ) 7 12 1 5 3 (3 ) 5
Other working capital accounts (178 ) (81 ) (97 ) (3 ) (25 ) (48 ) (9 ) (164 )
Securitization regulatory charges 121 121 120 122 121 123 125 124
Total (F) 157 78 (127 ) (102 ) 69 146 354 246
FFO, rolling 12 months (G) = (D)+(E)-(F) 2,107 2,213 2,704 2,854 2,534 2,685 2,359 2,078
FFO to debt, excluding securitization debt (G)/(C) 11.1 % 11.8 % 14.2 % 14.6 % 14.8 % 15.4 % 13.1 % 11.7 %
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H) 692 651 469 301 — 76 342 592
Severance and retention payments associated with exit of<br><br>EWC (rolling 12 months pre-tax) (I) 43 97 183 141 100 — — 43
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC [(G+H+I)/(C)] 15 % 15.8 % 17.6 % 16.8 % 15.3 % 15.9 % 15 % 15.3 %
Calculations may differ due to rounding.
REG G RECONCILIATIONS
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
($ millions) 2019 2018 2017
As-reported net income (loss) applicable to common stock/equity (A) 1,411 1,483 762
Preferred dividends 15 12 12
Tax-effected interest expense 439 412 337
As-reported net income (loss) applicable to common stock/equity adjusted for
preferred dividends and tax-effected interest expense (B) 1,865 1,907 1,110
Utility adjustments
Regulatory-sharing — (40 ) 56
Income tax effect on Utility adjustments above — 10 (14 )
2012/2013 IRS audit settlement — 44 —
Internal restructuring — 170 —
Tax reform — 38 (222 )
Reversal of valuation allowance on internal restructuring 41 — —
Total adjustments (C) 41 223 (181 )
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C) 1,824 1,684 1,291
Adjusted earnings (A-C) 1,370 1,261 942
Average invested capital (D) 28,186 25,487 23,601
Average common stock or member's equity (E) 13,219 11,778 10,721
Gross debt (F) 15,517 13,991 13,059
Less securitization debt (G) 298 424 545
Gross debt, excluding securitization debt (F-G) 15,219 13,567 12,514
Less cash and cash equivalents (H) 202 260 544
Net debt, excluding securitization debt (F-G-H) 15,018 13,307 11,969
Total capitalization (I) 29,631 26,740 24,234
Less securitization debt (J) 298 424 545
Total capitalization, excluding securitization debt (I-J) 29,333 26,317 23,689
Less cash and cash equivalents (K) 202 260 544
Net capitalization, excluding securitization debt (I-J-K) 29,131 26,057 23,144
(%)
ROIC – As-Reported (B/D) 6.6 7.5 4.7
ROIC – Adjusted ((B-C)/D) 6.5 6.6 5.5
ROE – As-Reported (A/E) 10.7 12.6 7.1
ROE – Adjusted ((A-C)/E) 10.4 10.7 8.8
Debt to capital (F/I) 52.4 52.3 53.9
Debt to capital, excluding securitization debt ((F-G)/(I-J)) 51.9 51.6 52.8
Net debt to net capital, excluding securitization debt ((F-G-H)/(I-J-K)) 51.6 51.1 51.7
Calculations may differ due to rounding.
REG G RECONCILIATIONS
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q18-4Q19
($ millions) 1Q19 2Q19 3Q19 4Q19 1Q18 2Q18 3Q18 4Q18
As-reported net income (loss) (A) 231 331 578 271 215 376 505 388
Less adjustments (B) — — — 41 — 44 — 179
Adjusted net income (loss) (A-B) 231 331 578 230 215 332 505 209
As-reported net income (loss) applicable to common stock/equity-rolling<br><br>12 months (C) 1,499 1,455 1,528 1,411 812 944 1,048 1,483
Preferred dividends 12 13 14 15 12 12 12 12
Tax-effected interest expense 416 421 428 439 409 413 415 412
As-Reported net income (loss) applicable to common stock/equity, rolling
12 months adjusted for preferred dividends and tax-effected 1,927 1,888 1,970 1,865 1,233 1,369 1,474 1,907
interest expense (D)
Adjustments in prior quarters 223 179 179 — (181 ) (181 ) (137 ) 44
Adjustments in current quarter — — — 41 — 44 — 179
Total adjustments (E) 223 179 179 41 (181 ) (137 ) (137 ) 223
Adjusted earnings, rolling 12 months adjusted for preferred
dividends and tax-effected interest expense (D-E) 1,705 1,709 1,791 1,824 1,413 1,505 1,611 1,684
Adjusted earnings, rolling 12 months (C-E) 1,276 1,276 1,349 1,370 993 1,081 1,185 1,261
Average invested capital (F) 26,617 26,903 27,728 28,186 24,193 24,745 25,247 25,487
Average common stock or member's equity (G) 11,920 12,297 12,864 13,219 10,844 11,266 11,660 11,778
Gross debt (H) 15,083 15,244 15,387 15,517 13,943 13,600 13,937 13,991
Less securitization debt (I) 398 360 338 298 520 483 463 424
Gross debt, excluding securitization debt (H-I) 14,685 14,883 15,049 15,219 13,423 13,116 13,474 13,567
Less cash and cash equivalents (J) 733 337 667 202 946 623 808 260
Net debt, excluding securitization debt (H-I-J) 13,952 14,546 14,382 15,018 12,477 12,493 12,666 13,307
Total capitalization (K) 27,986 28,238 29,056 29,631 25,248 25,567 26,400 26,740
Less securitization debt (L) 398 360 338 298 520 483 463 424
Total capitalization, excluding securitization debt (K-L) 27,588 27,878 28,717 29,333 24,728 25,084 25,937 26,317
Less cash and cash equivalents (M) 733 337 667 202 946 623 808 260
Net capitalization, excluding securitization debt (K-L-M) 26,855 27,540 28,050 29,131 23,782 24,460 25,129 26,057
(%)
ROIC – As-Reported (D/F) 7.2 7.0 7.1 6.6 5.1 5.5 5.8 7.5
ROIC – Adjusted ((D-E)/F) 6.4 6.4 6.5 6.5 5.8 6.1 6.4 6.6
ROE – As-Reported (C/G) 12.6 11.8 11.9 10.7 7.5 8.4 9.0 12.6
ROE – Adjusted ((C-E)/G) 10.7 10.4 10.5 10.4 9.2 9.6 10.2 10.7
Debt to capital ratio (H/K) 53.9 54.0 53.0 52.4 55.2 53.2 52.8 52.3
Debt to capital, excluding securitization debt ((H-I)/(K-L)) 53.2 53.4 52.4 51.9 54.3 52.3 51.9 51.6
Net debt to net capital, excluding securitization debt<br><br>((H-I-J)/(K-L-M)) 52.0 52.8 51.3 51.6 52.5 51.1 50.4 51.1
Calculations may differ due to rounding.
REG G RECONCILIATIONS
ENTERGY ARKANSAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
($ millions) 2019 2018 2017
As-reported earnings applicable to common stock (A) 263 252 138
Preferred dividends — 1 1
Tax-effected interest expense 99 86 70
As-reported earnings applicable to common stock adjusted for
preferred dividends and tax-effected interest expense (B) 362 339 210
Adjustments
Tax reform — — 3
2012/2013 IRS audit settlement — (2 ) —
Total adjustments (C) — (2 ) 3
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C) 362 341 206
Adjusted earnings (A-C) 263 254 135
Average invested capital (D) 6,432 5,810 5,263
Average invested capital, excluding securitization (E) 6,418 5,782 5,221
Average member's equity (F) 3,055 2,680 2,315
Gross debt (G) 3,528 3,226 3,002
Less securitization debt (H) 7 21 35
Gross debt, excluding securitization debt (G-H) 3,522 3,205 2,968
Less cash and cash equivalents (I) 3 — 6
Net debt, excluding securitization debt (G-H-I) 3,518 3,205 2,961
Total capitalization (J) 6,654 6,209 5,410
Less securitization debt (K) 7 21 35
Total capitalization, excluding securitization debt (J-K) 6,647 6,188 5,375
Less cash and cash equivalents (L) 3 — 6
Net capitalization, excluding securitization debt (J-K-L) 6,644 6,188 5,369
(%)
ROIC – As-Reported (B/D) 5.6 5.8 4.0
ROIC – Adjusted ((B-C)/E) 5.6 5.9 4.0
Return on average member's equity – As-Reported (A/F) 8.6 9.4 6.0
Return on average member's equity – Adjusted ((A-C)/F) 8.6 9.5 5.8
Debt to capital (G/J) 53.0 52.0 55.5
Debt to capital, excluding securitization debt ((G-H)/(J-K)) 53.0 51.8 55.2
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L)) 53.0 51.8 55.2
Calculations may differ due to rounding.
REG G RECONCILIATIONS
ENTERGY LOUISIANA FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
($ millions) 2019 2018 2017
As-reported net income (A) 692 676 316
Preferred dividends — — —
Tax-effected interest expense 203 184 154
As-reported net income adjusted for preferred dividends and
tax-effected interest expense (B) 894 860 470
Adjustments
IRS audit items — — —
Regulatory sharing — — 56
Income tax effect on regulatory sharing — — (14 )
Tax reform — — (224 )
2012/2013 IRS audit settlement — 50 —
Total Adjustments (C) — 50 (183 )
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C) 894 810 653
Adjusted earnings (A-C) 692 626 499
Average invested capital (D) 13,213 12,103 11,197
Average invested capital, excluding securitization (E) 13,169 12,036 11,109
Average common equity (F) 6,150 5,606 5,195
Gross debt (G) 7,321 6,806 6,188
Less securitization debt (H) 33 56 78
Gross debt, excluding securitization debt (G-H) 7,288 6,750 6,110
Less cash and cash equivalents (I) 2 43 36
Net debt, excluding securitization debt (G-H-I) 7,286 6,707 6,074
Total capitalization (J) 13,718 12,709 11,496
Less securitization debt (K) 33 56 78
Total capitalization, excluding securitization debt (J-K) 13,685 12,653 11,419
Less cash and cash equivalents (L) 2 43 36
Net capitalization, excluding securitization debt (J-K-L) 13,683 12,610 11,383
(%)
ROIC – As-Reported (B/D) 6.8 7.1 4.2
ROIC – Adjusted ((B-C)/E) 6.8 6.7 5.9
Return on average member's equity – As-Reported (A/F) 11.3 12.1 6.1
Return on average member's equity – Adjusted ((A-C)/F) 11.3 11.2 9.6
Debt to capital (G/J) 53.4 53.6 53.8
Debt to capital ratio, excluding securitization debt ((G-H)/(J-K)) 53.3 53.3 53.5
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L)) 53.2 53.2 53.4
Calculations may differ due to rounding.
REG G RECONCILIATIONS
ENTERGY MISSISSIPPI FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
($ millions) 2019 2018 2017
As-reported earnings applicable to common stock (A) 120 125 109
Preferred dividends — 1 1
Tax-effected interest expense 44 39 29
As-reported earnings applicable to common stock adjusted for preferred
dividends and tax-effected interest expense (B) 164 165 139
Adjustments
Tax reform — — (3 )
2012/2013 IRS audit settlement — (1 ) —
Total Adjustments (C) — (1 ) (3 )
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C) 164 166 143
Adjusted earnings (A-C) 120 126 113
Average invested capital (D) 2,891 2,543 2,352
Average member's equity (E) 1,417 1,235 1,136
Gross debt (F) 1,621 1,326 1,270
Less cash and cash equivalents (G) 52 37 6
Net debt (F-G) 1,569 1,289 1,264
Total capitalization (H) 3,163 2,618 2,468
Less cash and cash equivalents (I) 52 37 6
Net capitalization (H-I) 3,111 2,581 2,462
(%)
ROIC – As-Reported (B/D) 5.7 6.5 5.9
ROIC – Adjusted ((B-C)/D) 5.7 6.5 6.1
Return on average member's equity – As-Reported (A/E) 8.5 10.1 9.6
Return on average member's equity – Adjusted ((A-C)/E) 8.5 10.2 9.9
Debt to capital (F/H) 51.2 50.6 51.5
Net debt to net capital ((F-G)/(H-I)) 50.4 49.9 51.3
Calculations may differ due to rounding.
ENTERGY NEW ORLEANS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
($ millions) 2019 2018 2017
As-reported earnings applicable to common stock (A) 53.0 53.0 44.0
Preferred dividends — — 1.0
Tax-effected interest expense 15.0 15.0 13.0
As-reported earnings applicable to common stock adjusted for preferred
dividends and tax-effected interest expense (B) 68.0 68.0 57.0
Adjustments
Tax reform — — (6.0 )
2012/2013 IRS audit settlement — — —
Total Adjustments (C) — — (6.0 )
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C) 68 68 63
Adjusted earnings (A-C) 53 53 50
Average invested capital (D) 995 891 874
Average invested capital, excluding securitization (E) 937 822 794
Average member's equity (F) 471 430 421
Gross debt (G) 564 484 437
Less securitization debt (H) 53 64 74
Gross debt, excluding securitization debt (G-H) 511 420 362
Less cash and cash equivalents (I) 6 20 33
Net debt, excluding securitization debt (G-H-I) 505 400 330
Total capitalization (J) 1,062 929 852
Less securitization debt (K) 53 64 74
Total capitalization, excluding securitization debt (J-K) 1,009 865 778
Less cash and cash equivalents (L) 6 20 33
Net capitalization, excluding securitization debt (J-K-L) 1,003 845 745
(%)
ROIC – As-Reported (B/D) 6.8 7.6 6.5
ROIC – Adjusted ((B-C)/E) 7.2 8.2 8.0
Return on average member's equity – As-Reported (A/F) 11.3 12.4 10.4
Return on average member's equity – Adjusted ((A-C)/F) 11.3 12.4 11.8
Debt to capital (G/J) 53.1 52.1 51.3
Debt to capital, excluding securitization debt ((G-H)/(J-K)) 50.7 48.6 46.5
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L)) 50.4 47.4 44.2
Calculations may differ due to rounding.
REG G RECONCILIATIONS
ENTERGY TEXAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
($ millions) 2019 2018 2017
As-reported earnings applicable to common stock (A) 159 162 76
Preferred dividends 1 — —
Tax-effected interest expense 58 65 51
As-reported earnings applicable to common stock adjusted for preferred
dividends and tax-effected interest expense (B) 217 227 127
Adjustments
IRS audit items — — —
Tax reform — 38 (3 )
2012/2013 IRS audit settlement — (1 ) —
Total Adjustments (C) — 37 (3 )
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C) 217 189 130
Adjusted earnings (A-C) 159 125 79
Average invested capital (D) 3,332 2,892 2,712
Average invested capital, excluding securitization debt (E) 3,087 2,571 2,319
Average common equity (F) 1,593 1,341 1,165
Gross debt (G) 1,928 1,514 1,587
Less securitization debt (H) 205 284 358
Gross debt, excluding securitization debt (G-H) 1,723 1,230 1,229
Less cash and cash equivalents (I) 13 — 116
Net debt, excluding securitization debt (G-H-I) 1,710 1,230 1,114
Total capitalization (J) 3,728 2,936 2,847
Less securitization debt (K) 205 284 358
Total capitalization, excluding securitization debt (J-K) 3,522 2,652 2,489
Less cash and cash equivalents (L) 13 — 116
Net capitalization, excluding securitization debt (J-K-L) 3,509 2,652 2,374
(%)
ROIC – As-Reported (B/D) 6.5 7.8 4.7
ROIC – Adjusted ((B-C)/E) 7.0 7.4 5.6
ROE – As-Reported (A/F) 10.0 12.1 6.5
ROE – Adjusted ((A-C)/F) 10.0 9.3 6.8
Debt to capital (G/J) 51.7 51.6 55.7
Debt to capital, excluding securitization debt ((G-H)/(J-K)) 48.9 46.4 49.4
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L)) 48.7 46.4 46.9
Calculations may differ due to rounding.
REG G RECONCILIATIONS
SYSTEM ENERGY RESOURCES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
($ millions) 2019 2018 2017
As-reported net income (A) 99 94 79
Preferred dividends — — —
Tax-effected interest expense 25 27 22
As-reported net income adjusted for preferred
dividends and tax-effected interest expense (B) 124 121 101
Adjustments
Tax reform — — —
2012/2013 IRS audit settlement — — —
Total Adjustments (C) — — —
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C) 124 121 101
Adjusted earnings (A-C) 99 94 79
Average invested capital (D) 1,314 1,324 1,318
Average common equity (E) 725 724 725
Gross debt (F) 548 631 569
Less cash and cash equivalents (G) 69 96 287
Net debt (F-G) 479 535 282
Total capitalization (H) 1,260 1,368 1,280
Less cash and cash equivalents (I) 69 96 287
Net capitalization (H-I) 1,191 1,272 993
(%)
ROIC – As-Reported (B/D) 9.4 9.2 7.6
ROIC – Adjusted ((B-C)/D) 9.4 9.2 7.6
ROE – As-Reported (A/E) 13.7 13.0 10.8
ROE – Adjusted ((A-C)/E) 13.7 13.0 10.8
Debt to capital (F/H) 43.5 46.1 44.5
Net debt to net capital ((F-G)/(H-I)) 40.2 42.1 28.5
Calculations may differ due to rounding.
REG G RECONCILIATIONS
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019
($ millions) 2019 2018 2017
As-reported net income (loss) attributable to Entergy Corporation 147 (343 ) (175 )
Net income (loss) 149 (341 ) (172 )
Add back: interest expense 29 34 24
Add back: income taxes (161 ) (269 ) (146 )
Add back: depreciation and amortization 148 150 193
Subtract: interest and investment income 415 15 224
Add back: decommissioning expense 237 239 255
Adjusted EBITDA (13 ) (202 ) (71 )
Calculations may differ due to rounding.
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
1Q18-4Q19
($ millions) 1Q19 2Q19 3Q19 4Q19 1Q18 2Q18 3Q18 4Q18
As-reported net income (loss) attributable to Entergy Corporation 97 (26 ) (141 ) 217 (18 ) (57 ) 105 (373 )
Net income (loss) 97 (25 ) (141 ) 218 (18 ) (56 ) 106 (372 )
Add back: interest expense 9 9 6 5 8 8 9 8
Add back: income taxes 66 (9 ) (31 ) (187 ) (1 ) (30 ) (136 ) (102 )
Add back: depreciation and amortization 38 38 38 34 38 39 40 34
Subtract: interest and investment income 181 75 59 99 (1 ) 58 127 (169 )
Add back: decommissioning expense 63 64 60 49 58 60 56 64
Adjusted EBITDA 92 2 (127 ) 20 86 (37 ) (52 ) (199 )
Calculations may differ due to rounding.
ENTERGY CORPORATION AND SUBSIDIARIES
INVESTOR NEWS COMMON STOCK INFORMATION
Visit our investor relations website at www.entergy.com/investor_relations for The company’s common stock is listed on the New York and Chicago
earnings reports, financial releases, SEC filings and other investor information. exchanges under the symbol “ETR” (CUSIP 29364G103). The Entergy
share price is reported daily in the financial press under “Entergy” in
INVESTOR RELATIONS most listings of New York Stock Exchange securities. Entergy common
Securities analysts, portfolio managers, and other members of the financial stock is a component of the following indices: S&P 500, S&P Utilities
community may contact: Index, Philadelphia Utility Index and the NYSE Composite Index,
David Borde among others.
Vice President, Investor Relations
Telephone: 504-576-5668 As of Jan. 31, 2020, there were 190,726,738 shares of Entergy
E–mail: dborde@entergy.com common stock outstanding. Shareholders of record totaled
23,696, and approximately 283,538 investors held Entergy stock in
SHAREHOLDER ACCOUNT INFORMATION “street name” through a broker.
EQ Shareowner Services is Entergy’s transfer agent,
registrar, dividend disbursing agent, and dividend reinvestment CERTIFICATIONS
and stock purchase plan agent. Shareholders of record with In May 2019, Entergy’s Chief Executive Officer certified to the
questions about lost certificates, lost or missing dividend checks New York Stock Exchange that he was not aware of any violation
or notifications of change of address should contact: of the NYSE corporate governance listing standards. Also, Entergy
EQ Shareowner Services filed certifications regarding the quality of the company’s public
P.O. Box 64874 disclosure, required by Section 302 of the Sarbanes-Oxley Act of
St. Paul, MN 55164-0874 2002, as exhibits to our Annual Report on Form 10-K for the fiscal year
Phone: 1-855-854-1360 ended Dec. 31, 2019.
Internet: www.shareowneronline.com
DIVIDEND PAYMENTS
CORPORATE GOVERNANCE The Board of Directors declares dividends quarterly and sets the record and
Entergy’s Corporate Governance Guidelines, Board Committee Charters payment dates. Subject to Board discretion, those dates for 2020 are:
for the Audit, Corporate Governance, and Personnel Committees, Entergy's
Code of Entegrity and other ethics policies may be accessed electronically DECLARATION DATE RECORD DATE PAYMENT DATE
by selecting the investor information page on Entergy’s corporate February 1 February 14 March 1
website at entergy.com. April 8 May 7 June 1
July 31 August 13 September 1
ADDITIONAL INFORMATION October 30 November 12 December 1
For copies of the above Corporate Governance documents, Entergy’s
10-K and 10-Q reports filed with the Securities and Exchange Quarterly dividend payments (in cents-per-share):
Commission, or for other investor information, email amichel@entergy.com.
QUARTER 2019 2018 2017
1 91 89 87
2 91 89 87
3 91 89 87
4 93 91 89

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