Document


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 27, 2018

Commission
File Number
Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, and
IRS Employer Identification No.
Commission
File Number
Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, and
IRS Employer Identification No.
1-11299
ENTERGY CORPORATION
(a Delaware corporation)
639 Loyola Avenue
New Orleans, Louisiana 70113
Telephone (504) 576-4000
72-1229752
1-35747
ENTERGY NEW ORLEANS, LLC
(a Texas limited liability company)
1600 Perdido Street
New Orleans, Louisiana 70112
Telephone (504) 670-3700
72-0273040
1-10764
ENTERGY ARKANSAS, INC.
(an Arkansas corporation)
425 West Capitol Avenue
Little Rock, Arkansas 72201
Telephone (501) 377-4000
71-0005900
1-34360
ENTERGY TEXAS, INC.
(a Texas corporation)
10055 Grogans Mill Road
The Woodlands, Texas 77380
Telephone (409) 981-2000
61-1435798
1-32718
ENTERGY LOUISIANA, LLC
(a Texas limited liability company)
4809 Jefferson Highway
Jefferson, Louisiana 70121
Telephone (504) 576-4000
47-4469646
1-09067
SYSTEM ENERGY RESOURCES, INC.
(an Arkansas corporation)
Echelon One
1340 Echelon Parkway
Jackson, Mississippi 39213
Telephone (601) 368-5000
72-0752777
1-31508
ENTERGY MISSISSIPPI, INC.
(a Mississippi corporation)
308 East Pearl Street
Jackson, Mississippi 39201
Telephone (601) 368-5000
64-0205830
 
 

____________________________________________________________________________________________
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))






Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 27, 2018, Entergy Corporation published on its website the 2017 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








SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.


Entergy Corporation
Entergy Arkansas, Inc.
Entergy Louisiana, LLC
Entergy Mississippi, Inc.
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 27, 2018



Exhibit


http://api.tenkwizard.com/cgi/image?quest=1&rid=23&ipage=12331771&doc=3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY STATISTICAL REPORT
 
AND INVESTOR GUIDE
 
 
 
2017








Our Vision: We Power Life
 
Our Mission: We exist to grow a world-class energy business that creates sustainable value
for our four stakeholders – customers, employees, communities and owners.
 
Entergy Corporation (NYSE:ETR) is an integrated energy company engaged
primarily in electric power production and retail distribution operations.
Entergy owns and operates power plants with approximately
30,000 megawatts of electric generating capacity, including nearly
9,000 megawatts of nuclear power. Entergy delivers electricity to
2.9 million utility customers in Arkansas, Louisiana, Mississippi
and Texas. Entergy has annual revenues of approximately
$11 billion and more than 13,000 employees.
We have assembled the statistics and facts in this report to support your review and analysis of Entergy’s results over the last five years.

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 2017 report.
 
 
Excel Tab
 
 
Excel Tab
ABOUT THIS PUBLICATION
Page 2
 
   Utility Securities Detail
Page 31
FORWARD-LOOKING INFORMATION
Page 2
 
        Utility Long-Term Debt and Preferred Stock
Page 31
REGULATION G COMPLIANCE
Page 2
 
            Entergy Arkansas, Inc.
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, Inc.
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
Page 35
     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 Consolidating Information
Page 36
    Consolidated Annual Financial Metrics
Page 6
 
            Entergy Arkansas, Inc.
Pages 37 – 38
    Financial Results
Page 7
 
            Entergy Louisiana, LLC
Pages 39 – 40
          GAAP to Non-GAAP Reconciliations:
Page 7
 
            Entergy Mississippi, Inc.
Pages 41 – 42
      Consolidated Quarterly Results
Page 7
 
            Entergy New Orleans, Inc.
Pages 43 – 44
         GAAP to Non-GAAP Reconciliations:
Pages 8 – 9
 
            System Energy Resources, Inc.
Page 44
             Utility, Parent & Other Quarterly Results
Page 10
 
            Entergy Texas, Inc.
Pages 45 – 46
     Consolidated Quarterly Special Items
Pages 11 – 12
 
        Utility Nuclear Plant Statistics
Page 47
         GAAP to Non-GAAP Reconciliations:
Page 13
 
   Utility Regulatory Information
Page 48
      Consolidated Annual Results
Page 14
 
        State Regulatory Commissions
Page 48
     Consolidated Annual Special Items
Pages 15 – 16
 
        Commission/Council Members
Page 48
     Consolidated Statements of Operations
Pages 17 – 18
 
 
 
     Consolidating Income Statement
Pages 19 – 20
 
ENTERGY WHOLESALE COMMODITIES
 
     Consolidated Balance Sheets
Page 20
 
   EWC Quarterly Financial Metrics
Page 49
     Consolidating Balance Sheet
Page 21
 
   EWC Annual Financial Metrics
Page 49
     Consolidated Statements of Cash Flow
Page 22
 
   EWC Quarterly Operational Metrics
Page 49
     Cash Flow Information by Business
 
 
   EWC Annual Operational Metrics
Page 49
     Consolidated Statements of Changes in Equity
Page 23
 
   EWC Total Capacity
Page 49
     Consolidated Statements of Comprehensive
Page 23
 
   EWC Nuclear Plant Statistics
Page 50
      Income (Loss)
Page 23
 
   EWC Non-Nuclear Wholesale Assets
Page 50
  Consolidated Capital Expenditures
Page 23
 
     Plant Statistics
 
  Entergy Corporation Securities Detail
Page 23
 
   EWC Non-Nuclear Wholesale Assets
Page 50
     Entergy Corporation Long-Term Debt
 
 
     Plant Emissions
 
     Securities Ratings (Outlook)
 
 
   EWC Nuclear Securities Detail
Page 51
     Preferred Member Interests
Page 24
 
   EWC Non-Nuclear Wholesale Assets
Page 51
 
Page 24
 
     Securities Detail
 
UTILITY
Page 24
 
 
 
   Utility Quarterly Financial Metrics
Page 24
 
DEFINITIONS OF OPERATIONAL MEASURES AND
 
   Utility Annual Financial Metrics
Page 25
 
  GAAP AND NON-GAAP FINANCIAL MEASURES
Page 52
   Utility Securities Ratings (Outlook)
Page 25
 
 
 
   Utility Historical Capital Expenditures
Pages 26 – 27
 
REG G RECONCILIATIONS
 
   Utility Financial Results
Pages 28 – 30
 
  Financial Measures
Pages 53 – 66
        Utility Consolidating Income Statement
 
 
 
 
        Utility Consolidating Balance Sheet
 
 
INVESTOR INFORMATION
Page 67
        Utility Selected Annual Financial Metrics
 
 
 
 
 
 
 
 
 
 
 
 
 
 





ABOUT THIS PUBLICATION
 
This publication is unaudited and should be used in conjunction with Entergy’s
• uncertainty regarding the establishment of interim or permanent sites for
2017 Annual Report to Shareholders and Form 10-K filed with the Securities
spent nuclear fuel and nuclear waste storage and disposal and the level of
and Exchange Commission. It has been prepared for information purposes and
spent fuel and nuclear waste disposal fees charged by the U.S.
is not intended for use in connection with any sale or purchase of, or any offer
government or other providers related to such sites
to buy, any securities of Entergy Corporation or its subsidiaries.
• variations in weather and the occurrence of hurricanes and other storms
 
and disasters, including uncertainties associated with efforts to remediate
FORWARD-LOOKING INFORMATION
the effects of hurricanes, ice storms, or other weather events and the recovery
In this report and from time to time, Entergy Corporation makes statements concerning
of costs associated with restoration, including accessing funded storm reserves,
its expectations, beliefs, plans, objectives, goals, strategies, and future
federal and local cost recovery mechanisms, securitization, and insurance
events or performance. Such statements are “forward-looking statements”
• effects of climate change, including the potential for increases in sea
within the meaning of the Private Securities Litigation Reform Act of 1995.
levels or coastal land and wetland loss
Words such as “may,” “will,” “could,” “project,” “believe,” “anticipate,” “intend,”
• changes in the quality and availability of water supplies and the related
“expect,” “estimate,” “continue,” “potential,” “plan,” “predict,” “forecast,”
regulation of water use and diversion
and other similar words or expressions are intended to identify forward-looking
• Entergy’s ability to manage its capital projects and operation
statements but are not the only means to identify these statements. Although Entergy
and maintenance costs
believes that these forward-looking statements and the underlying assumptions are
• Entergy’s ability to purchase and sell assets at attractive prices
reasonable, it cannot provide assurance that they will prove correct. Any
and on other attractive terms
forward-looking statement is based on information current as of the date of this
• the economic climate, and particularly economic conditions in Entergy’s
report and speaks only as of the date on which such statement is made.
Utility service area and the northern United States and events and
Except to the extent required by the federal securities laws, Entergy undertakes
circumstances that could influence economic conditions in those areas,
no obligation to publicly update or revise any forward-looking statements,
including power prices, and the risk that anticipated load growth
whether as a result of new information, future events, or otherwise.
may not materialize
     Forward-looking statements involve a number of risks and uncertainties.
• federal income tax reform, including the enactment of the Tax Cuts and Jobs
There are factors that could cause actual results to differ materially from those
Act, and its intended and unintended consequences on financial results and
expressed or implied in the forward-looking statements, including (a) those
future cash flows, including the potential impact to credit ratings, which
factors discussed or incorporated by reference in Item 1A. Risk Factors contained
may affect Entergy’s ability to borrow funds or increase the cost of
in the Form 10-K for the year ended Dec. 31, 2017, (b) those factors discussed or
borrowing in the future
incorporated by reference in Management’s Financial Discussion and Analysis
• the effects of Entergy’s strategies to reduce tax payments, especially in
contained in the Form 10-K for the year ended Dec. 31, 2017, and (c) the following
light of federal income tax reform
factors (in addition to others described elsewhere in this report and in
• changes in the financial markets and regulatory requirements for the
subsequent securities filings):
issuance of securities, particularly as they affect access to
• resolution of pending and future rate cases, formula rate proceedings and related
capital and Entergy’s ability to refinance existing securities, execute
 negotiations, including various performance-based rate discussions,
share repurchase programs, and fund investments and acquisitions
Entergy’s utility supply plan, and recovery of fuel and purchased power costs
• actions of rating agencies, including changes in the ratings of
• long-term risks and uncertainties associated with the termination of the System
debt and preferred stock, changes in general corporate ratings,
Agreement in 2016, including the potential absence of federal authority to resolve
and changes in the rating agencies’ ratings criteria
certain issues among the Utility operating companies and their retail regulators
• changes in inflation and interest rates
• regulatory and operating challenges and uncertainties and economic risks
• the effect of litigation and government investigations or proceedings
associated with the Utility operating companies’ participation in MISO,
• changes in technology, including (i) Entergy’s ability to implement new
including the benefits of continued MISO participation, the effect of current or
technologies, (ii) the impact of changes relating to new, developing, or
projected MISO market rules and market and system conditions in the MISO
alternative sources of generation such as distributed energy and energy
markets, the allocation of MISO system transmission upgrade costs, and the effect
storage, energy efficiency, demand side management and other measures
of planning decisions that MISO makes with respect to future transmission
that reduce load, and competition from other companies offering products
investments by the Utility operating companies
and services to our customers based on new or emerging technologies
• changes in utility regulation, including with respect to retail and wholesale
• the effects, including increased security costs, of threatened or actual
competition, the ability to recover net utility assets and other potential stranded
terrorism, cyber-attacks or data security breaches, natural or man-made
costs, and the application of more stringent transmission reliability requirements
electromagnetic pulses that affect transmission or generation infrastructure,
or market power criteria by the FERC or the U.S. Department of Justice
accidents, and war or a catastrophic event such as a nuclear accident or a
• changes in the regulation or regulatory oversight of Entergy’s nuclear generating
natural gas pipeline explosion
facilities and nuclear materials and fuel, including with respect to the planned, potential
• Entergy’s ability to attract and retain talented management, directors,
or actual shutdown of nuclear generating facilities owned or operated by
and employees with specialized skills
Entergy Wholesale Commodities and the effects of new or existing safety or
• changes in accounting standards and corporate governance
environmental concerns regarding nuclear power plants and nuclear fuel
• declines in the market prices of marketable securities and resulting funding
• resolution of pending or future applications, and related regulatory proceedings
requirements and the effects on benefits costs for Entergy’s defined benefit
and litigation, for license renewals or modifications or other authorizations required
pension and other postretirement benefit plans
of nuclear generating facilities and the effect of public and political opposition on
• future wage and employee benefit costs, including changes
these applications, regulatory proceedings and litigation
in discount rates and returns on benefit plan assets





• the performance of and deliverability of power from Entergy’s generation
• changes in decommissioning trust fund values or earnings or in the
resources, including the capacity factors at Entergy's nuclear generating facilities
timing of, requirements for, or cost to decommission Entergy's nuclear plant
• increases in costs and capital expenditures that could result from the commitment
sites and the implementation of decommissioning of such sites
of substantial human and capital resources required for the operation and maintenance
following shutdown
of Entergy’s nuclear generating facilities
• the decision to cease merchant power generation at all Entergy
• Entergy’s ability to develop and execute on a point of view regarding future
Wholesale Commodities nuclear power plants by mid-2022, including
prices of electricity, natural gas, and other energy-related commodities
the implementation of the planned shutdowns of Pilgrim, Indian Point 2,
• prices for power generated by Entergy’s merchant generating
Indian Point 3, and Palisades
facilities and the ability to hedge, meet credit support requirements for hedges,
• the effectiveness of Entergy’s risk management policies and procedures
sell power forward or otherwise reduce the market price risk associated
and the ability and willingness of its counterparties to satisfy their
with those facilities, including the Entergy Wholesale Commodities nuclear plants
financial and performance commitments
especially in light of the planned shutdown or sale of each of these nuclear plants
• factors that could lead to impairment of long-lived assets
• the prices and availability of fuel and power Entergy must purchase
• the ability to successfully complete strategic transactions Entergy may
for its Utility customers, and Entergy’s ability to meet credit support
undertake, including mergers, acquisitions, divestitures, or restructurings,
requirements for fuel and power supply contracts
regulatory or other limitations imposed as a result of any such strategic
• volatility and changes in markets for electricity, natural gas,
transaction and the success of the business following any such
uranium, emissions allowances, and other energy-related commodities,
strategic transaction
and the effect of those changes on Entergy and its customers
 
• changes in law resulting from federal or state energy legislation or
REGULATION G COMPLIANCE
legislation subjecting energy derivatives used in hedging and risk
Financial performance measures shown in this report include those
management transactions to governmental regulation
calculated and presented in accordance with generally accepted
• changes in environmental laws and regulations, agency positions, or associated
accounting principles (GAAP), as well as those that are considered
litigation, including requirements for reduced emissions of sulfur dioxide, nitrogen
non-GAAP measures. This report includes non-GAAP measures
oxide, greenhouse gases, mercury, particulate matter, heat, and other regulated air
of operational earnings; operational EPS; adjusted earnings;
and water emissions, requirements for waste management and disposal and for the
operational adjusted EBITDA; operational ROIC; operational ROE;
remediation of contaminated sites, wetlands protection and permitting,
operational return on average member's equity; operational non-fuel operation
and changes in costs of compliance with these environmental laws and regulations
and maintenance expense; operational common dividend payout ratio;
• changes in laws and regulations, agency positions, or associated litigation related
gross liquidity; total debt, excluding securitization debt;
to protected species and associated critical habitat designations
net debt to net capital ratio; debt to capital ratio, excluding
• the effects of changes in federal, state or local laws and regulations,
securitization debt; net debt to net capital ratio, excluding securitization debt;
and other governmental actions or policies, including changes in
parent debt to total debt ratio, excluding securitization debt;
monetary, fiscal, tax, environmental, or energy policies
debt to operational adjusted EBITDA, excluding securitization debt;
 
operational FFO to debt ratio, excluding securitization debt; operational
 
net revenue when describing Entergy’s results of operations and financial
 
performance. 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 help improve lives, build businesses and create prosperity. “We power life” is Entergy’s promise to create a better future for us all.
 
 
 
We exist to grow a world-class energy business that creates sustainable value for our four stakeholders – customers, employees, communities and owners. This is our mission.
 
 
 
• For our customers, we create value by delivering top-quartile customer satisfaction through anticipating customer needs and exceeding their expectations while keeping rates reasonable.
 
 
 
• For our employees, we create value by earning top-quartile organizational health scores and top-decile safety performance and by providing a rewarding, engaging, diverse and inclusive work environment with fair compensation and benefits and opportunities for career advancement.
 
 
 
• For our communities, we create value by achieving top-decile corporate social responsibility performance through economic development, philanthropy, volunteerism and advocacy and by operating our business safely and in a socially and environmentally responsible way.
 
 
 
• For our owners, we create value by delivering top-quartile returns through the relentless pursuit of opportunities to optimize our business.
 
 
 
BUSINESS STRATEGY
 
 
 
 
 
Our strategy to achieve our stakeholder objectives has two key areas of focus. 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 and supported by progressive regulatory constructs, and by exiting our merchant business.
 
 
 
ENTERGY BY THE NUMBERS
 
 
http://api.tenkwizard.com/cgi/image?quest=1&rid=23&ipage=12331771&doc=4





ENTERGY AT A GLANCE
 
 
 
 
 
OPERATIONS
 
 
 
 
 
UTILITY
 
 
Entergy’s utility companies generate, transmit, distribute, and sell
 
ENTERGY WHOLESALE COMMODITIES (EWC)
electric power, and operate a small natural gas distribution business.
 
Entergy has announced the sale or closure of the EWC nuclear assets, completing
• Five electric utilities with 2.9 million customers
 
its plan to exit the merchant power business and transition to a pure-play utility.
• Four states – Arkansas, Louisiana, Mississippi, Texas
 
 
• 22,000 MW generating capacity
 
EWC owns, operates and decommissions nuclear power plants located in the
• Two gas utilities with 199,000 customers
 
northern United States and sells the electric power produced by its operating
 
 
plants to wholesale customers. EWC also provides operations and management services,
ENTERGY ARKANSAS, INC. (E-AR)
 
including decommissioning services, to nuclear power plants owned by other utilities
Entergy Arkansas generates, transmits, distributes, and sells electric
 
in the United States. EWC also owns interests in non-nuclear power plants that sell
power to 709,000 retail customers in Arkansas.
 
the electric power produced by those plants to wholesale customers.
 
 
 
ENTERGY LOUISIANA, LLC (E-LA)
 
• 3,568 MW nuclear-owned generating capacity in four units in northern U.S.
Entergy Louisiana generates, transmits, distributes, and sells electric
 
    • Pilgrim Nuclear Power Station in Plymouth, Massachusetts
power to 1,078,000 retail customers in Louisiana. Entergy
 
    • Indian Point Energy Center Units 2 and 3 in Buchanan, New York
Louisiana also provides natural gas utility service to 93,000 customers in
 
    • Palisades Nuclear Plant in Covert, Michigan
the Baton Rouge, Louisiana area.
 
• 394 net owned MW non-nuclear generating capacity
 
 
• 800 MW under management support services contract
ENTERGY MISSISSIPPI, INC. (E-MS)
 
    • Cooper Nuclear Station located near Brownville, Nebraska
Entergy Mississippi generates, transmits, distributes, and sells electric
 
 
power to 449,000 retail customers in Mississippi.
 
James A. FitzPatrick Nuclear Power Plant was sold on March 31, 2017. Entergy plans
 
 
to close Pilgrim on May 31, 2019, Indian Point 2 on April 30, 2020, Indian Point 3 on
ENTERGY NEW ORLEANS, LLC (E-NO)
 
April 30, 2021, and Palisades on May 31, 2022.
Entergy New Orleans generates, transmits, distributes, and sells
 
 
electric power to 200,000 retail customers in the city of New Orleans,
 
Vermont Yankee Nuclear Power Station was shutdown at the end of 2014.
Louisiana. Entergy New Orleans also provides natural gas utility
 
Entergy has entered into an agreement to sell Vermont Yankee and the transaction
service to 106,000 customers in the city of New Orleans.
 
is expected to close in December 2018.
 
 
 
ENTERGY TEXAS, INC. (E-TX)
 
 
Entergy Texas generates, transmits, distributes, and sells electric power
 
 
to 448,000 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
 
 
 
 
 
 
 
 
 
 
 
 
 
2017

2016

2015

2014

2013

GAAP MEASURES
 
 
 
 
 
 
 
 
 
Operating Revenues ($ millions)
 
 
 
 
11,074

10,846

11,513

12,495

11,391

As-Reported Net Income (Loss) Attributable to Entergy Corporation ($ millions)
412

(584
)
(177
)
941

712

As-Reported Earnings Per Share ($)
 
 
 
2.28

(3.26
)
(0.99
)
5.22

3.99

Common Dividend Paid Per Share ($)
 
 
 
3.50

3.42

3.34

3.32

3.32

Common Dividend Payout Ratio – As-Reported (%)
 
 
154

(104
)
(339
)
64

83

NON-GAAP MEASURES
 
 
 
 
 
 
 
 
 
Operational Earnings ($ millions)
 
 
 
1,300

1,272

1,076

1,050

957

Operational Earnings Per Share ($)
 
 
 
7.20

7.11

6.00

5.83

5.36

Special Items ($ millions)
 
 
 
 
(889
)
(1,855
)
(1,252
)
(109
)
(245
)
Special Items Per Share ($)
 
 
 
 
(4.92
)
(10.37
)
(6.99
)
(0.61
)
(1.37
)
Common Dividend Payout Ratio – Operational (%)
 
 
49

48

56

57

62

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
UTILITY ELECTRIC OPERATING DATA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017

2016

2015

2014

2013

Retail Kilowatt-Hour Sales (millions)
 
 
 
112,859

112,595

112,312

110,910

107,781

Peak Demand (megawatts)
 
 
 
 
21,671

21,387

21,730

20,472

21,581

Retail Customers – Year End (thousands)
 
 
 
2,884

2,868

2,845

2,818

2,800

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY WHOLESALE COMMODITIES OPERATING DATA
 
 
 
 
 
 
 
 
 
 
 
 
2017

2016

2015

2014

2013

Billed Electric Energy Sales (gigawatt hours)
 
 
 
30,501

35,881

39,745

44,424

45,127

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EMPLOYEES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017

2016

2015

2014

2013

Total Employees – Year End
 
 
 
 
13,504

13,513

13,579

13,393

13,808



OWNED AND LEASED CAPABILITY (MW)(a)
 
 
 
 
 
 As of December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 E-AR

E-LA

 E-MS

 E-NO

 E-TX

SERI

EWC(b)(c)

 Total

Gas/Oil
2,136

6,603

2,944

491

2,065


213

14,452

Coal
1,189

360

414


266


181

2,410

    Total Fossil
3,325

6,963

3,358

491

2,331


394

16,862

Nuclear
1,821

2,136




1,271

3,568

8,796

Hydro
71







71

Solar


1

1




2

    Total
           5,217

           9,099

           3,359

              492

           2,331

            1,271

            3,962

          25,731

 (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.







CONSOLIDATED ENTERGY CORPORATION AND SUBSIDIARIES DATA
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED QUARTERLY FINANCIAL METRICS
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
2016
 FY %

 
 1Q

 2Q

 3Q

 4Q

FY

 1Q

 2Q

 3Q

 4Q

FY

 CHANGE

GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 

ROIC – as-reported (%)(a)
(1.3
)
(1.9
)
(1.8
)
3.4

3.4

0.7

2.4

7.0

(0.7
)
(0.7
)
4.1

ROE – as-reported (%)(a)
(8.4
)
(9.8
)
(9.4
)
5.1

5.1

(2.5
)
1.7

13.4

(6.7
)
(6.7
)
11.8

Book value per share

$44.90


$46.63


$48.38


$44.28


$44.28


$52.38


$54.54


$56.21


$45.12


$45.12


($0.84
)
End of period shares outstanding (millions)
179.4

179.5

179.6

180.5

180.5

178.7

178.9

179.1

179.1

179.1

1.4

Cash and cash equivalents ($ millions)
1,083

934

546

781

781

1,092

996

1,307

1,188

1,188

(407
)
Revolver capacity ($ millions)
4,185

4,163

4,213

4,174

4,174

3,794

4,173

4,243

3,720

3,720

454

Commercial paper ($ millions)
1,088

1,147

1,272

1,467

1,467

578

853

264

344

344

1,123

Total debt ($ millions)
15,611

16,285

16,224

16,677

16,677

15,092

14,837

15,073

15,275

15,275

1,402

Securitization debt ($ millions)
637

602

582

545

545

752

716

698

661

661

(116
)
Debt to capital (%)
65.4

65.5

64.6

67.1

67.1

60.9

59.6

59.4

64.8

64.8

2.3

Off-balance sheet liabilities ($ millions)
 
 
 
 
 
 
 
 
 
 
 
   Debt of joint ventures – Entergy’s share
71

70

68

67

67

77

76

74

72

72

(5
)
   Leases – Entergy’s share
397

397

397

429

429

359

359

359

397

397

32

   Power purchase agreements accounted for as leases(b)
166

166

166

136

136

195

195

195

166

166

(30
)
      Total off-balance sheet liabilities
634

633

631

632

632

631

630

628

635

635


($3
)
 
 
 
 
 
 
 
 
 
 
 
 
NON-GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 
ROIC – operational (%)(a)
6.7

6.5

6.5

7.1

7.1

5.8

7.5

7.9

7.2

7.2

(0.1
)
ROE – operational (%)(a)
13.9

13.3

13.0

16.2

16.2

10.4

14.3

15.6

14.7

14.7

1.5

Gross liquidity ($ millions)
5,268

5,097

4,759

4,955

4,955

4,886

5,169

5,550

4,908

4,908

47

Debt to capital,
     excluding securitization debt (%)
64.4

64.7

63.8

66.3

66.3

59.7

58.4

58.3

63.8

63.8

2.5

Net debt to net capital,
     excluding securitization debt (%)
62.7

63.2

62.9

65.2

65.2

57.8

56.6

55.9

61.8

61.8

3.4

Parent debt to total debt,
     excluding securitization debt (%)
21.1

20.5

20.9

21.9

21.9

19.5

19.1

19.4

19.8

19.8

2.1

Debt to operational adjusted EBITDA,
     excluding securitization debt (times)
4.4

4.6

4.6

4.8

4.8

4.6

4.4

4.2

4.1

4.1

0.7

Operational FFO to debt,
     excluding securitization debt (%)
17.3

15.2

15.3

15.9

15.9

21.0

21.1

21.1

18.8

18.8

(2.9
)
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
(a) Rolling twelve months.
 
 
 
 
 
 
 
 
 
 
 
(b) For further detail, see Note 10 on page 156 of the 2017 SEC Form 10-K.







CONSOLIDATED ANNUAL FINANCIAL METRICS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017

 
2016

 
2015

 
2014

 
2013

GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 
ROIC – as-reported (%)
 
 
3.4

 
(0.7
)
 
1.0

 
5.6

 
4.7

ROE – as-reported (%)
 
 
5.1

 
(6.7
)
 
(1.8
)
 
9.6

 
7.6

Book value per share
 
 

$44.28

 

$45.12

 

$51.89

 

$55.83

 

$54.00

End of period shares outstanding (millions)
 
 
180.5

 
179.1

 
178.4

 
179.2

 
178.4

Cash and cash equivalents ($ millions)
 
 
781

 
1,188

 
1,351

 
1,422

 
739

Revolver capacity ($ millions)
 
 
4,174

 
3,720

 
3,582

 
3,592

 
3,977

Commercial paper ($ millions)
 
 
1,467

 
344

 
422

 
484

 
1,045

Total debt ($ millions)
 
 
16,677

 
15,275

 
13,850

 
13,917

 
13,562

Securitization debt ($ millions)
 
 
545

 
661

 
775

 
777

 
883

Debt to capital (%)
 
 
67.1

 
64.8

 
59.1

 
57.4

 
57.7

Off-balance sheet liabilities ($ millions)
 
 
 
 
 
 
 
 
 
 
 
   Debt of joint ventures – Entergy’s share
 
67

 
72

 
77

 
81

 
86

   Leases – Entergy’s share
 
 
429

 
397

 
359

 
422

 
456

   Power purchase agreements accounted for as leases(a)
136

 
166

 
195

 
224

 
253

      Total off-balance sheet liabilities
 
 
632

 
635

 
631

 
727

 
795

 
 
 
 
 
 
 
 
 
 
 
 
NON-GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 
ROIC – operational (%)
 
 
7.1

 
7.2

 
6.3

 
6.1

 
5.8

ROE – operational (%)
 
 
16.2

 
14.7

 
11.2

 
10.7

 
10.2

Gross liquidity ($ millions)
 
 
4,955

 
4,908

 
4,933

 
5,014

 
4,716

Debt to capital, excluding securitization debt (%)
 
 
66.3

 
63.8

 
57.7

 
56.0

 
56.1

Net debt to net capital, excluding securitization debt (%)
 
 
65.2

 
61.8

 
55.0

 
53.2

 
54.6

Parent debt to total debt, excluding securitization debt (%)
 
 
21.9

 
19.8

 
21.9

 
20.4

 
21.9

Debt to operational adjusted EBITDA, excluding securitization debt (times)
4.8

 
4.1

 
4.1

 
3.7

 
4.0

Operational FFO to debt, excluding securitization debt (%)
 
 
15.9

 
18.8

 
25.7

 
27.8

 
27.0

Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
(a) For further detail, see Note 10 on page 156 of the 2017 SEC Form 10-K.
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY CORPORATION CONSOLIDATED QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
2016
FY

(After-tax, per share in $) (a)
 1Q

 2Q

 3Q

 4Q

FY

 1Q

 2Q

 3Q

 4Q

FY

 CHANGE

AS-REPORTED
   

   

   

   

   

   

   

   

   

   

   

Utility
0.92

1.35

2.22

(0.26
)
4.22

1.09

2.09

2.47

0.67

6.34

(2.12
)
Parent & Other
(0.30
)
(0.32
)
(0.32
)
(0.04
)
(0.97
)
(0.25
)
(0.32
)
(0.35
)
(0.32
)
(1.24
)
0.27

Entergy Wholesale Commodities
(0.16
)
1.24

0.31

(2.36
)
(0.97
)
0.44

1.39

0.04

(10.23
)
(8.36
)
7.39

CONSOLIDATED AS-REPORTED EARNINGS (LOSS)
0.46

2.27

2.21

(2.66
)
2.28

1.28

3.16

2.16

(9.88
)
(3.26
)
5.54

LESS SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
Utility



(1.00
)
(1.00
)





(1.00
)
Parent & Other



0.29

0.29






0.29

Entergy Wholesale Commodities
(0.53
)
(0.84
)
(0.14
)
(2.71
)
(4.21
)
(0.07
)
0.05

(0.15
)
(10.19
)
(10.37
)
6.16

TOTAL SPECIAL ITEMS
(0.53
)
(0.84
)
(0.14
)
(3.42
)
(4.92
)
(0.07
)
0.05

(0.15
)
(10.19
)
(10.37
)
5.45

OPERATIONAL
 
 
 
 
 
 
 
 
 
 
 
Utility
0.92

1.35

2.22

0.74

5.22

1.09

2.09

2.47

0.67

6.34

(1.12
)
Parent & Other
(0.30
)
(0.32
)
(0.32
)
(0.33
)
(1.26
)
(0.25
)
(0.32
)
(0.35
)
(0.32
)
(1.24
)
(0.02
)
Entergy Wholesale Commodities
0.37

2.08

0.45

0.35

3.24

0.51

1.34

0.19

(0.04
)
2.01

1.23

CONSOLIDATED OPERATIONAL EARNINGS (LOSS)
0.99

3.11

2.35

0.76

7.20

1.35

3.11

2.31

0.31

7.11

0.09

 
 
 
 
 
 
 
 
 
 
 
 
Weather Impact
(0.16
)
(0.09
)
(0.25
)
0.06

(0.44
)
(0.14
)
(0.09
)
0.18

0.11

0.06

(0.50
)
 
 
 
 
 
 
 
 
 
 
 
 
SHARES OF COMMON STOCK OUTSTANDING
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 
 
 
 
 
 
 
 
 
 
 
   End of period
179.4

179.5

179.6

180.5

180.5

178.7

178.9

179.1

179.1

179.1

1.4

   Weighted average - diluted
179.8

180.2

180.5

180.3

180.5

179.0

179.5

180.0

179.1

178.9

1.6

Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
(a) Per share amounts are calculated by dividing the corresponding line item in the chart above by the diluted average number of common shares outstanding for the period.
 
 
 
 
 
 
 
 
 
 
 
 
UTILITY, PARENT & OTHER QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
2016
FY

($ millions)
 1Q

 2Q

 3Q

 4Q

FY

 1Q

 2Q

 3Q

 4Q

FY

 CHANGE

Utility as-reported earnings (loss)
164.7

243.5

400.8

(47.4
)
761.6

194.9

375.6

443.3

120.4

1,134.2

(372.6
)
Parent & Other as-reported earnings (loss)
(54.4
)
(56.9
)
(57.9
)
(6.3
)
(175.5
)
(44.0
)
(58.6
)
(62.8
)
(57.1
)
(222.5
)
47.1

UP&O AS-REPORTED EARNINGS (LOSS)
110.3

186.6

343.0

(53.8
)
586.1

151.0

317.0

380.5

63.3

911.7

(325.6
)
LESS:
 
 
 
 
 
 
 
 
 
 
 
  Special items



(128.5
)
(128.5
)





(128.5
)
  Weather
(47.5
)
(25.9
)
(72.7
)
18.3

(127.8
)
(41.3
)
(26.6
)
55.0

31.0

18.1

(145.9
)
  Tax effect of weather (a)
18.3

10.0

28.0

(7.0
)
49.2

15.9

10.2

(21.1
)
(12.0
)
(7.0
)
56.2

  Estimated weather impact (after-tax)
(29.2
)
(15.9
)
(44.7
)
11.3

(78.6
)
(25.4
)
(16.3
)
33.8

19.1

11.1

(89.7
)
  Customer sharing






(16.1
)


(16.1
)
16.1

  Tax effect of customer sharing (a)






6.2



6.2

(6.2
)
  Other income tax items
(9.4
)
0.5

0.2

(22.3
)
(31.0
)
6.0

132.4

(6.6
)
(4.9
)
126.9

(157.9
)
  Tax items, net of customer sharing
(9.4
)
0.5

0.2

(22.3
)
(31.0
)
6.0

122.5

(6.6
)
(4.9
)
117.0

(147.9
)
UP&O ADJUSTED EARNINGS (LOSS)
148.9

202.0

387.5

85.7

824.2

170.3

210.9

353.2

49.2

783.6

40.6

(After-tax, per share in $) (b)
 
 
 
 
 
 
 
 
 
 
 
Utility as-reported earnings (loss)
0.92

1.35

2.22

(0.26
)
4.22

1.09

2.09

2.47

0.67

6.34

(2.12
)
Parent & Other as-reported earnings (loss)
(0.30
)
(0.32
)
(0.32
)
(0.04
)
(0.97
)
(0.25
)
(0.32
)
(0.35
)
(0.32
)
(1.24
)
0.27

UP&O AS-REPORTED EARNINGS (LOSS)
0.62

1.03

1.90

(0.30
)
3.25

0.84

1.77

2.12

0.35

5.10

(1.85
)
LESS:
 
 
 
 
 
 
 
 
 
 
 
  Special items



(0.71
)
(0.71
)





(0.71
)
  Weather
(0.16
)
(0.09
)
(0.25
)
0.06

(0.44
)
(0.14
)
(0.09
)
0.18

0.11

0.06

(0.50
)
  Tax items, net of customer sharing
(0.05
)


(0.12
)
(0.17
)
0.03

0.68

(0.04
)
(0.03
)
0.66

(0.82
)
UP&O ADJUSTED EARNINGS (LOSS)
0.83

1.12

2.15

0.48

4.57

0.95

1.18

1.98

0.27

4.38

0.18

Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
(a) Income tax effect is calculated by multiplying the pre-tax amount by the estimated income tax rates that are expected to apply to those adjustments.
(b) Per share amounts are calculated by dividing the corresponding line item in the chart above by the diluted average number of common shares outstanding for the period.






FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY CORPORATION CONSOLIDATED QUARTERLY SPECIAL ITEMS - BY ITEM TYPE
Shown as Positive/(Negative) Impact on Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
2016
FY

(Pre-tax except for income tax effects and total, $ millions)
 1Q
 2Q
 3Q
 4Q
FY
 1Q
 2Q
 3Q
 4Q
FY
 CHANGE

UTILITY
 
 
 
 
 
 
 
 
 
 
 
SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
   Tax reform



(180.7
)
(180.7
)





(180.7
)
Total



(180.7
)
(180.7
)





(180.7
)
PARENT & OTHER
 
 
 
 
 
 
 
 
 
 
 
SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
   Tax reform



52.1

52.1






52.1

Total



52.1

52.1






52.1

ENTERGY WHOLESALE COMMODITIES
SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
   Items associated with decisions to close or sell
     EWC nuclear plants
(230.9
)
(232.8
)
(39.3
)
(140.6
)
(643.7
)
(19.9
)
(19
)
(42.4
)
(2,828.5
)
(2,909.8
)
2,266.2

   Gain on the sale of FitzPatrick
16.3




16.3






16.3

   DOE litigation awards






33.8



33.8

(33.8
)
   Income tax effect on adjustments above (a)
75.1

81.5

13.7

49.2

219.6

7.0

(5.2
)
15.0

1,003.9

1,020.7

(801.1
)
   Income tax benefit resulting from FitzPatrick transaction
44.5




44.5






44.5

   Tax reform



(396.7
)
(396.7
)





(396.7
)
Total
(95.1
)
(151.3
)
(25.5
)
(488.1
)
(760.0
)
(12.9
)
9.6

(27.5
)
(1,824.6
)
(1,855.3
)
1,095.2

TOTAL SPECIAL ITEMS
(95.1
)
(151.3
)
(25.5
)
(616.7
)
(888.6
)
(12.9
)
9.6

(27.5
)
(1,824.6
)
(1,855.3
)
966.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
2016
FY

(After-tax, per share in $) (b)
 1Q
 2Q
 3Q
 4Q
FY
 1Q
 2Q
 3Q
 4Q
FY
 CHANGE

UTILITY
 
 
 
 
 
 
 
 
 
 
 
SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
   Tax reform



(1.00
)
(1.00
)





(1.00
)
Total



(1.00
)
(1.00
)





(1.00
)
PARENT & OTHER
 
 
 
 
 
 
 
 
 
 
 
SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
   Tax reform



0.29

0.29






0.29

Total



0.29

0.29






0.29

ENTERGY WHOLESALE COMMODITIES
SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
   Items associated with decisions to close or sell
     EWC nuclear plants
(0.84
)
(0.84
)
(0.14
)
(0.51
)
(2.32
)
(0.07
)
(0.07
)
(0.15
)
(10.19
)
(10.49
)
8.17

   Gain on the sale of FitzPatrick
0.06




0.06






0.06

   DOE litigation awards






0.12



0.12

(0.12
)
   Income tax benefit resulting from FitzPatrick transaction
0.25




0.25






0.25

   Tax reform



(2.20
)
(2.20
)





(2.20
)
Total
(0.53
)
(0.84
)
(0.14
)
(2.71
)
(4.21
)
(0.07
)
0.05

(0.15
)
(10.19
)
(10.37
)
6.16

TOTAL SPECIAL ITEMS
(0.53
)
(0.84
)
(0.14
)
(3.42
)
(4.92
)
(0.07
)
0.05

(0.15
)
(10.19
)
(10.37
)
5.45

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 SPECIAL ITEMS - BY INCOME STATEMENT LINE ITEM
Shown as Positive/(Negative) Impact on Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
2016
FY

(Pre-tax except for Income taxes and Total, $ millions)
 1Q
 2Q
 3Q
 4Q
FY
 1Q
 2Q
 3Q
 4Q
FY
 CHANGE

UTILITY SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
   Net revenue (a)



55.5

55.5






55.5

   Income taxes (c)



(236.2
)
(236.2
)





(236.2
)
Total



(180.7
)
(180.7
)