etr-20210628
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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 28, 2021

Commission
File Number
Registrant, State of Incorporation or Organization, Address of Principal Executive Offices, Telephone Number, and IRS Employer Identification No.

Commission
File Number
Registrant, State of Incorporation or Organization, Address of Principal Executive Offices, Telephone Number, and IRS Employer Identification No.
1-11299ENTERGY CORPORATION1-35747ENTERGY NEW ORLEANS, LLC
(a Delaware corporation)
639 Loyola Avenue
New Orleans, Louisiana 70113
Telephone (504) 576-4000
(a Texas limited liability company)
1600 Perdido Street
New Orleans, Louisiana 70112
Telephone (504) 670-3700
72-122975282-2212934
1-10764ENTERGY ARKANSAS, LLC1-34360ENTERGY TEXAS, INC.
(a Texas limited liability company)
425 West Capitol Avenue
Little Rock, Arkansas 72201
Telephone (501) 377-4000
(a Texas corporation)
10055 Grogans Mill Road
The Woodlands, Texas 77380
Telephone (409) 981-2000
83-191866861-1435798
1-32718ENTERGY LOUISIANA, LLC1-09067SYSTEM ENERGY RESOURCES, INC.
(a Texas limited liability company)
4809 Jefferson Highway
Jefferson, Louisiana 70121
Telephone (504) 576-4000
(an Arkansas corporation)
1340 Echelon Parkway
Jackson, Mississippi 39213
Telephone (601) 368-5000
47-446964672-0752777
1-31508ENTERGY MISSISSIPPI, LLC
(a Texas limited liability company)
308 East Pearl Street
Jackson, Mississippi 39201
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:
RegistrantTitle of ClassTrading
Symbol
Name of Each Exchange
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, 4.875% Series due September 2066
EAI
New York Stock Exchange
 
 
 
Entergy Louisiana, LLC
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.
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 28, 2021, Entergy Corporation published on its website the 2020 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
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, the registrants have duly caused this report to be signed on their 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 28, 2021


Document

https://cdn.kscope.io/4ced5e0a9b4257e8e5ee0d6ff7682c1d-entergylogoa33a.gif

ENTERGY STATISTICAL REPORT
AND INVESTOR GUIDE
2020





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 engaged in electric power production, transmission and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 7,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 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 three 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 CONTENTSNote: The Excel Tab labels correspond to the page numbers
in the PDF version of the 2020 report.
Excel TabExcel Tab
ABOUT THIS PUBLICATIONPage 2   Utility Securities DetailPages 31 – 34
FORWARD-LOOKING INFORMATIONPage 2        Utility Long-Term Debt and Preferred Stock Page 31
REGULATION G COMPLIANCEPage 2            Entergy Arkansas, LLCPage 31
ENTERGY AT A GLANCEPages 3 – 4            Entergy Utility Holding Company, LLCPage 31
            Entergy Louisiana, LLCPage 32
ENTERGY CORPORATION AND SUBSIDIARIES            Entergy Mississippi, LLCPage 33
  Selected Financial and Operating DataPage 5            Entergy New Orleans, LLCPage 33
     Selected Financial DataPage 5            Entergy Texas, Inc.Page 34
     Utility Electric Operating DataPage 5            System Energy Resources, Inc.Page 34
     Entergy Wholesale Commodities Operating DataPage 5   Utility Statistical InformationPages 35 – 47
     EmployeesPage 5        Utility Total CapabilityPage 35
     Owned and Leased CapabilityPage 5        Utility Selected Operating DataPage 35
    Consolidated Quarterly Financial MetricsPage 6        Utility Electric Statisitcal InformationPage 36
    Consolidated Annual Financial MetricsPage 6            Entergy Arkansas, LLCPages 37 – 38
    Financial ResultsPage 7            Entergy Louisiana, LLC Pages 39 – 40
          GAAP to Non-GAAP Reconciliations:Page 7            Entergy Mississippi, LLCPages 41 – 42
      Consolidated Quarterly ResultsPage 7            Entergy New Orleans, LLC Pages 43 – 44
      Consolidated Quarterly AdjustmentsPages 8 – 9            System Energy Resources, Inc. Page 44
      Consolidated Annual ResultsPage 10            Entergy Texas, Inc.Pages 45 – 46
      Consolidated Annual AdjustmentsPages 11 – 12        Utility Nuclear Plant StatisticsPage 47
     Consolidated Statements of OperationsPage 13   Utility Regulatory InformationPage 48
     Consolidating Income StatementPage 14        State Regulatory CommissionsPage 48
     Consolidated Balance SheetsPages 15 – 16        Commission/Council MembersPage 48
     Consolidating Balance SheetPages 17 – 18
     Consolidated Statements of Cash FlowPages 19 – 20ENTERGY WHOLESALE COMMODITIES
     Cash Flow Information by BusinessPage 20   EWC Quarterly Financial MetricsPage 49
     Consolidated Statements of Changes in EquityPage 21   EWC Annual Financial MetricsPage 49
     Consolidated Statements of ComprehensivePage 22   EWC Quarterly Operational MetricsPage 49
      Income (Loss)   EWC Annual Operational MetricsPage 49
  Consolidated Capital ExpendituresPage 23   EWC Total CapacityPage 49
     Historical Capital ExpendituresPage 23   EWC Nuclear Plant StatisticsPage 50
  Entergy Corporation Securities DetailPage 23   EWC Nuclear Plant Additional InformationPage 50
     Entergy Corporation Long-Term DebtPage 23   EWC Non-Nuclear Wholesale Assets Page 50
     Securities Ratings (Outlook)Page 23     Plant Statistics
     Preferred Member InterestsPage 23   EWC Non-Nuclear Wholesale Assets Page 50
UTILITY     Plant Emissions
   Utility Quarterly Financial MetricsPage 24   EWC Non-Nuclear Assets Securities DetailPage 51
   Utility Annual Financial MetricsPage 24   Vermont Yankee Credit Facility Page 51
   Utility Securities Ratings (Outlook)Page 24   Preferred StockPage 51
   Utility Historical Capital ExpendituresPage 24
   Utility Financial ResultsPages 25 – 30DEFINITIONS OF OPERATIONAL MEASURES AND
        Utility Consolidating Income StatementPage 25  GAAP AND NON-GAAP FINANCIAL MEASURESPage 52
        Utility Consolidating Balance SheetPages 26 – 27
        Utility Selected Annual Financial MetricsPages 28 – 30REG G RECONCILIATIONS
  Financial MeasuresPages 53 – 66
INVESTOR INFORMATIONPage 67




ABOUT THIS PUBLICATION● the risk that an incident at any nuclear generation facility in the U.S. could lead to the
This publication is unaudited and should be used in conjunction with Entergy’s 2020assessment of significant retrospective assessments and/or retrospective insurance
Annual Report to Shareholders and Form 10-K filed with the Securities and Exchangepremiums as a result of Entergy’s participation in a secondary financial protection
Commission. It has been prepared for information purposes and is not intended for usesystem, a utility industry mutual insurance company, and industry self- insurance
in connection with any sale or purchase of, or any offer to buy, any securities of Entergyprograms;
Corporation or its subsidiaries.● effects of climate change, including the potential for increases in extreme weather
events and sea levels or coastal land and wetland loss;
FORWARD-LOOKING INFORMATION● changes in the quality and availability of water supplies and the related regulation of
In this report and from time to time, Entergy Corporation makes statements concerningwater use and diversion;
its expectations, beliefs, plans, objectives, goals, projections, strategies, and future● Entergy’s ability to manage its capital projects, including completion of projects timely
events or performance. Such statements are “forward-looking statements” within theand within budget and to obtain the anticipated performance or other benefits, and its
meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,”operation and maintenance costs;
“will,” “could,” “project,” “believe,” “anticipate,” “intend,” “expect,” “estimate,” “continue,”● Entergy’s ability to purchase and sell assets at attractive prices and on other attractive
“potential,” “plan,” “predict,” “forecast,” and other similar words or expressions areterms;
intended to identify forward-looking statements but are not the only means to identify● the economic climate, and particularly economic conditions in Entergy’s Utility service
these statements. Although Entergy believes that these forward-looking statements andarea and the northern United States and events and circumstances that could influence
the underlying assumptions are reasonable, it cannot provide assurance that they willeconomic conditions in those areas, including power prices, and the risk that anticipated
prove correct. Any forward-looking statement is based on information current as of theload growth may not materialize;
date of this report and speaks only as of the date on which such statement is made.● changes to federal income tax laws and regulations, including continued impact of the
Except to the extent required by the federal securities laws, Entergy undertakes noTax Cuts and Jobs Act and its intended and unintended consequences on financial
obligation to publicly update or revise any forward-looking statements, whether as aresults and future cash flows;
result of new information, future events, or otherwise.● the effects of Entergy’s strategies to reduce tax payments;
Forward-looking statements involve a number of risks and uncertainties. There are● changes in the financial markets and regulatory requirements for the issuance of
factors that could cause actual results to differ materially from those expressed orsecurities, particularly as they affect access to capital and Entergy’s ability to refinance
implied in the forward-looking statements, including (a) those factors discussed orexisting securities, execute share repurchase programs, and fund investments and
incorporated by reference in Item 1A. Risk Factors contained in the Form 10-K foracquisitions;
the year ended Dec. 31, 2020, (b) those factors discussed or incorporated by reference● actions of rating agencies, including changes in the ratings of debt and preferred
in Management’s Financial Discussion and Analysis contained in the Form 10-K for thestock, changes in general corporate ratings, and changes in the rating agencies’ ratings
year ended Dec. 31, 2020, and (c) the following factors (in addition to others describedcriteria;
elsewhere in this report and in subsequent securities filings):● changes in inflation and interest rates;
● resolution of pending and future rate cases, formula rate proceedings and related● the effects of litigation and government investigations or proceedings;
negotiations, including various performance-based rate discussions, Entergy’s utility● changes in technology, including (i) Entergy’s ability to implement new or emerging
supply plan, and recovery of fuel and purchased power costs, as well as delays in costtechnologies, (ii) the impact of changes relating to new, developing, or alternative
recovery resulting from these proceedings;sources of generation such as distributed energy and energy storage, renewable energy,
● continuing long-term risks and uncertainties associated with the termination of theenergy efficiency, demand side management and other measures that reduce load and
System Agreement in 2016, including the potential absence of federal authority togovernment policies incentivizing development of the foregoing, and (iii) competition from
resolve certain issues among the Utility operating companies and their retail regulators;other companies offering products and services to Entergy’s customers based on new or
● regulatory and operating challenges and uncertainties and economic risks associatedemerging technologies or alternative sources of generation;
with the Utility operating companies’ participation in MISO, including the benefits of● Entergy's ability to effectively formulate and implement plans to reduce its carbon
continued MISO participation, the effect of current or projected MISO market rules andemission rate and aggregate carbon emissions, including its commitment to achieve
market and system conditions in the MISO markets, the allocation of MISO systemnet-zero carbon emissions by 2050, and the potential impact on its business of
transmission upgrade costs, the MISO-wide base rate of return on equity allowed orattempting to achieve such objectives;
any MISO-related charges and credits required by the FERC, and the effect of planning● the effects, including increased security costs, of threatened or actual terrorism,
decisions that MISO makes with respect to future transmission investments by thecyber-attacks or data security breaches, natural or man-made electromagnetic pulses
Utility operating companies;that affect transmission or generation infrastructure, accidents, and war or a catastrophic
● changes in utility regulation, including with respect to retail and wholesale competition,event such as a nuclear accident or a natural gas pipeline explosion;
the ability to recover net utility assets and other potential stranded costs, and the● the effects of a global event or pandemic, such as the COVID-19 global pandemic,
application of more stringent return on equity criteria, transmission reliabilityincluding economic and societal disruptions; volatility in the capital markets (and any
requirements or market power criteria by the FERC or the U.S. Department of Justice;related increased cost of capital or any inability to access the capital markets or draw
● changes in the regulation or regulatory oversight of Entergy’s nuclear generatingon available bank credit facilities); reduced demand for electricity, particularly from
facilities and nuclear materials and fuel, including with respect to the planned or actualcommercial and industrial customers; increased or unrecoverable costs; supply chain,
shutdown and sale of each of the nuclear generating facilities owned or operated byvendor, and contractor disruptions; delays in completion of capital or other construction
Entergy Wholesale Commodities, and the effects of new or existing safety orprojects, maintenance, and other operations activities, including prolonged outages;
environmental concerns regarding nuclear power plants and nuclear fuel;impacts to Entergy’s workforce availability, health, or safety; increased cybersecurity
● resolution of pending or future applications, and related regulatory proceedings andrisks as a result of many employees telecommuting; increased late or uncollectible
litigation, for license modifications or other authorizations required of nuclear generatingcustomer payments; regulatory delays; executive orders affecting, or increased
facilities and the effect of public and political opposition on these applications, regulatoryregulation of, Entergy's business; changes in credit ratings or outlooks as a result of
proceedings, and litigation;any of the foregoing; or other adverse impacts on Entergy’s ability to execute on its
● the performance of and deliverability of power from Entergy’s generation resources,business strategies and initiatives or, more generally, on Entergy’s results of operations,
including the capacity factors at Entergy’s nuclear generating facilities;financial condition, and liquidity;
● increases in costs and capital expenditures that could result from changing regulatory● Entergy’s ability to attract and retain talented management, directors, and employees
requirements, emerging operating and industry issues, and the commitment ofwith specialized skills;



substantial human and capital resources required for the safe and reliable operation and● Entergy’s ability to attract, retain and manage an appropriately qualified workforce;
maintenance of Entergy’s nuclear generating facilities;● changes in accounting standards and corporate governance;
● Entergy’s ability to develop and execute on a point of view regarding future prices of● declines in the market prices of marketable securities and resulting funding
electricity, natural gas, and other energy-related commodities;requirements and the effects on benefits costs for Entergy’s defined benefit pension
● prices for power generated by Entergy’s merchant generating facilities and the abilityand other postretirement benefit plans;
to hedge, meet credit support requirements for hedges, sell power forward or otherwise● future wage and employee benefit costs, including changes in discount rates and
reduce the market price risk associated with those facilities, including the Entergyreturns on benefit plan assets;
Wholesale Commodities nuclear plants, especially in light of the planned shutdown and● changes in decommissioning trust fund values or earnings or in the timing of,
sale of each of these nuclear plants;requirements for, or cost to decommission Entergy’s nuclear plant sites and the
● the prices and availability of fuel and power Entergy must purchase for its Utilityimplementation of decommissioning of such sites following shutdown;
customers, and Entergy’s ability to meet credit support requirements for fuel and power● the decision to cease merchant power generation at all Entergy Wholesale
supply contracts;Commodities nuclear power plants by mid-2022, including the implementation of the
● volatility and changes in markets for electricity, natural gas, uranium, emissionsplanned shutdowns and sales of Indian Point 2, Indian Point 3, and Palisades;
allowances, and other energy-related commodities, and the effect of those changes on● the effectiveness of Entergy’s risk management policies and procedures and the
Entergy and its customers;ability and willingness of its counterparties to satisfy their financial and performance
● changes in law resulting from federal or state energy legislation or legislationcommitments;
subjecting energy derivatives used in hedging and risk management transactions to● the potential for the factors listed herein to lead to the impairment of long-lived assets;
governmental regulation;and
● changes in environmental laws and regulations, agency positions or associated● Entergy and its subsidiaries' ability to successfully execute on their business
litigation, including requirements for reduced emissions of sulfur dioxide, nitrogen oxide,strategies, including their ability to complete strategic transactions that Entergy may
greenhouse gases, mercury, particulate matter and other regulated air emissions, heatundertake.
and other regulated discharges to water, requirements for waste management and
disposal and for the remediation of contaminated sites, wetlands protection andREGULATION G COMPLIANCE
permitting, and changes in costs of compliance with environmental laws and regulations;Financial performance measures shown in this report include those calculated and
● changes in laws and regulations, agency positions, or associated litigation related topresented in accordance with generally accepted accounting principles (GAAP), as well
protected species and associated critical habitat designations;as those that are considered non-GAAP measures. This report includes non-GAAP
● the effects of changes in federal, state, or local laws and regulations, and othermeasures of adjusted earnings; adjusted EPS; adjustments; adjusted EBITDA; adjusted
governmental actions or policies, including changes in monetary, fiscal, tax,common dividend payout ratio; adjusted ROIC; adjusted ROE; gross liquidity; adjusted
environmental, trade/tariff, domestic purchase requirements, or energy policies;return on average member's equity; adjusted net revenue; adjusted non-fuel O&M; total
● the effects of full or partial shutdowns of the federal government or delays in obtainingdebt, excluding securitization debt; debt to capital, excluding securitization debt; net
government or regulatory actions or decisions;debt to net capital, excluding securitization debt; parent debt to total debt, excluding
● uncertainty regarding the establishment of interim or permanent sites for spent nuclearsecuritization debt; FFO; FFO to debt, excluding securitization debt; FFO to debt
fuel and nuclear waste storage and disposal and the level of spent fuel and nuclearexcluding securitization debt, return of unprotected excess ADIT, and severance, and
waste disposal fees charged by the U.S. government or other providers related to suchretention payments associated with exit of EWC. We have prepared reconciliations of
sites;these measures to the most directly comparable GAAP measures. Reconciliations can
● variations in weather and the occurrence of hurricanes and other storms and disasters,be found on pages 7, 10, and 53 – 66.
including uncertainties associated with efforts to remediate the effects of hurricanes
(including Hurricane Laura, Hurricane Delta, and Hurricane Zeta), ice storms, or other
weather events and the recovery of costs associated with restoration, including
accessing funded storm reserves, federal and local cost recovery mechanisms,
securitization, and insurance, as well as any related unplanned outages;



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$10.1 billion
GAAP Net Income$1.4 billion
Total Assets$58.2 billion
Utility Retail Electric Customers3.0 million
Interconnected High-Voltage Transmission Lines16,100 circuit miles
Distribution Lines105,500 circuit miles
Utility Billed Retail Electric Energy Sales124,828 GWh
EWC Billed Electric Energy Sales20,581 GWh
Employees at Year-end13,400
Total Owned and Leased Generating Capability by Fuel Source in MW:
  Modern Gas9,738
  Nuclear7,069
  Legacy Gas6,965
  Coal2,392
  Hydro/Solar101





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 gasEntergy 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 3 million customers
● Four states – Arkansas, Louisiana, Mississippi, TexasThe EWC business segment includes the ownership, operation, and decommissioning
● 24,020 MW generating capabilityof nuclear power plants located in the northern United States and the sale of the electric
● Two gas utilities with 202,000 customerspower 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 722,000 retail customers in Arkansas.● 1,852 MW nuclear-owned generating capacity in two units in northern U.S.
● Indian Point Energy Center Unit 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 1,096,000 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
ENTERGY MISSISSIPPI, LLC (E-MS)Yankee Nuclear Power Station was sold on January 11, 2019. Pilgrim Nuclear Power
Entergy Mississippi generates, transmits, distributes, and sells electricStation was sold on August 26, 2019. Indian Point 2 Nucelar Power Station ceased
power to 456,000 retail customers in Mississippi.operations on April 30, 2020. Entergy plans to close 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 207,000 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 473,000 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  
202020192018
GAAP MEASURES
Operating Revenues ($ millions)10,114 10,879 11,009 
As-Reported Net Income (Loss) Attributable to Entergy Corporation ($ millions)1,407 1,241 849 
As-Reported Earnings Per Share ($)6.90 6.30 4.63 
Common Dividend Paid Per Share ($)3.74 3.66 3.58 
Common Dividend Payout Ratio – As-Reported (%)54 58 77 
NON-GAAP MEASURES
Adjusted Earnings ($ millions)1,138 1,064 970 
Adjusted Earnings Per Share ($)5.66 5.40 5.29 
Adjustments ($ millions)250 177 (121)
Adjustments Per Share ($)1.24 0.90 (0.66)
Common Dividend Payout Ratio – Adjusted (%)66 68 68 
UTILITY ELECTRIC OPERATING DATA  
 202020192018
Retail Kilowatt-Hour Sales (millions) 124,828 129,121 117,498 
Peak Demand (megawatts) 21,340 21,598 21,587 
Retail Customers – Year End (thousands) 2,954 2,923 2,901 
  
ENTERGY WHOLESALE COMMODITIES OPERATING DATA
 202020192018
Billed Electric Energy Sales (gigawatt hours) 20,581 28,088 29,875 
EMPLOYEES   
 202020192018
Total Employees – Year End 13,400 13,635 13,688 


OWNED AND LEASED CAPABILITY (MW)(a)
 As of December 31, 2020
 E-ARE-LA E-MS E-NO E-TXSERIEWC(b)(c)(d) Total
Gas/Oil2,091 8,827 2,929 638 2,005 — 213 16,703 
Coal1,194 346 416 — 255 — 181 2,392 
  Total Fossil3,285 9,173 3,345 638 2,260 — 394 19,095 
Nuclear1,817 2,144 — — — 1,256 1,852 7,069 
Hydro73 — — — — — — 73 
Solar— — 27 — — — 29 
  Total5,175 11,317 3,347 665 2,260 1,256 2,246 26,266 
 (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
20202019 FY
 1Q  2Q  3Q  4Q FY 1Q  2Q  3Q  4Q FY CHANGE
GAAP MEASURES 
ROIC – as-reported (%)(a)5.6 5.9 6.3 6.1 6.1 5.6 5.5 4.8 6.3 6.3 (0.2)
ROE – as-reported (%)(a)11.5 12.2 13.3 13.1 13.1 11.4 10.8 8.6 13.0 13.0 0.1 
Cash and cash equivalents ($ millions)1,464 935 1,240 1,759 1,759 983 636 956 426 426 1,333 
Revolver capacity ($ millions)3,348 4,110 4,125 4,110 4,110 3,950 4,120 4,115 3,810 3,810 300 
Commercial paper ($ millions)1,942 1,946 1,398 1,627 1,627 1,942 1,635 1,918 1,947 1,947 (320)
Total debt ($ millions)21,465 21,493 22,127 24,062 24,062 19,325 19,054 19,441 19,885 19,885 4,177 
Securitization debt ($ millions)271 232 209 175 175 398 360 338 298 298 (123)
Debt to capital (%)67.2 66.8 66.7 68.3 68.3 67.8 65.5 65.4 65.5 65.5 2.8 
Off-balance sheet liabilities ($ millions)
Debt of joint ventures – Entergy’s share53 51 49 17 17 59 58 56 54 54 (37)
Total off-balance sheet liabilities53 51 49 17 17 59 58 56 54 54 (37)
NON-GAAP MEASURES
ROIC – adjusted (%)(a)5.6 5.6 5.4 5.3 5.3 5.5 5.5 5.6 5.6 5.6 (0.3)
ROE – adjusted (%)(a)11.8 11.4 10.9 10.8 10.8 11.5 11.0 11.4 11.2 11.2 (0.4)
Gross liquidity ($ millions)4,811 5,045 5,364 5,869 5,869 4,933 4,756 5,071 4,236 4,236 1,633 
Net liquidity ($ millions)2,870 3,099 3,966 4,241 4,241 2,991 3,121 3,153 2,289 2,289 1,952 
Net liquidity, including storm escrows ($ millions)3,242 3,472 4,339 4,357 4,357 3,396 3,528 3,563 2,701 2,701 1,656 
Debt to capital,
     excluding securitization debt (%)
66.9 66.6 66.5 68.1 68.1 67.3 65.1 65.0 65.1 65.1 3.0 
Net debt to net capital,
     excluding securitization debt (%)
65.3 65.6 65.2 66.4 66.4 66.1 64.3 63.8 64.6 64.6 1.8 
Parent debt to total debt,
     excluding securitization debt (%)
22.2 22.0 22.4 21.6 21.6 21.7 19.4 20.5 21.6 21.6 — 
FFO to debt,
     excluding securitization debt (%)
14.3 14.6 11.8 10.3 10.3 11.1 11.8 14.2 14.6 14.6 (4.3)
FFO to debt,
     excluding securitization debt, return of
     unprotected excess ADIT, and severance and
     retention payments associated with exit of EWC
    (%)
16.0 16.0 12.5 10.9 10.9 15.0 15.8 17.6 16.8 16.8 (5.9)
Totals may not foot due to rounding.
(a) Rolling twelve months.





CONSOLIDATED ANNUAL FINANCIAL METRICS
202020192018
GAAP MEASURES   
ROIC – as-reported (%)6.1 6.3 5.3 
ROE – as-reported (%)13.1 13.0 10.1 
Cash and cash equivalents ($ millions)1,759 426 481 
Revolver capacity ($ millions) 4,110 3,810 4,056 
Commercial paper ($ millions) 1,627 1,947 1,942 
Total debt ($ millions) 24,062 19,885 18,133 
Securitization debt ($ millions) 175 298 424 
Debt to capital (%) 68.3 65.5 66.7 
Off-balance sheet liabilities ($ millions)
Debt of joint ventures – Entergy’s share 17 54 61 
Leases – Entergy’s share — — 448 
Power purchase agreements accounted for as leases(a)— — 106 
Total off-balance sheet liabilities17 54 615 
NON-GAAP MEASURES
ROIC – adjusted (%)5.3 5.6 5.7 
ROE – adjusted (%)10.8 11.2 11.5 
Gross liquidity ($ millions) 5,869 4,236 4,537 
Net liquidity ($ millions)4,241 2,289 2,595 
Net liquidity, including storm escrows ($ millions)4,357 2,701 2,998 
Debt to capital, excluding securitization debt (%)68.1 65.1 66.1 
Net debt to net capital, excluding securitization debt (%) 66.4 64.6 65.5 
Parent debt to total debt, excluding securitization debt (%) 21.6 21.6 22.6 
FFO to debt, excluding securitization debt (%) 10.3 14.6 11.7 
FFO to debt, excluding securitization debt, return of
unprotected excess ADIT, and severance and retention
payments associated with exit of EWC (%)
10.9 16.8 15.3 
Totals may not foot due to rounding. 
(a) For further detail, see Note 10 on page 159 of the 2019 SEC Form 10-K.




FINANCIAL RESULTS
ENTERGY CORPORATION CONSOLIDATED QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION
 20202019FY
(After-tax, $ in millions)  1Q  2Q  3Q  4Q FY 1Q  2Q  3Q  4Q FY CHANGE
AS-REPORTED EARNINGS (LOSS)               
Utility320 345 552 584 1,800 231 331 578 271 1,411 389 
Parent & Other(90)(69)(61)(127)(347)(73)(69)(72)(103)(316)(31)
Entergy Wholesale Commodities(111)85 30 (69)(65)97 (26)(141)217 147 (212)
CONSOLIDATED AS-REPORTED EARNINGS (LOSS)119 361 521 388 1,388 255 236 365 385 1,241 147 
LESS ADJUSTMENTS               
Utility— — — 377 377 — — — 41 41 335 
Parent & Other— — — (61)(61)— — — (11)(11)(51)
Entergy Wholesale Commodities(111)85 30 (69)(65)97 (26)(141)217 147 (212)
TOTAL ADJUSTMENTS(111)85 30 246 250 97 (26)(141)248 177 73 
ADJUSTED EARNINGS (LOSS)               
Utility320 345 552 207 1,424 231 331 578 229 1,369 54 
Parent & Other(90)(69)(61)(66)(286)(73)(69)(72)(92)(305)20 
Entergy Wholesale Commodities— — — — — — — — — — — 
CONSOLIDATED ADJUSTED EARNINGS (LOSS)230 276 491 142 1,138 158 262 506 137 1,064 74 
Weather Impact (50)(4)(22)(75)(23)12 13 45 46 (120)
SHARES OF COMMON STOCK OUTSTANDING
($ millions)
End of period 200 200 200 200 200 190 199 199 199 199 
Weighted average - diluted 201 201 201 201 201 192 194 200 201 197 
20202019FY
(After-tax, per share in $) (a) 1Q  2Q  3Q  4Q FY 1Q  2Q  3Q  4Q FY CHANGE
AS-REPORTED EARNINGS (LOSS)               
Utility1.59 1.71 2.74 2.90 8.95 1.20 1.70 2.88 1.35 7.16 1.79 
Parent & Other(0.45)(0.34)(0.30)(0.63)(1.73)(0.38)(0.35)(0.36)(0.51)(1.60)(0.13)
Entergy Wholesale Commodities(0.55)0.42 0.15 (0.34)(0.32)0.50 (0.13)(0.70)1.08 0.74 (1.06)
CONSOLIDATED AS-REPORTED EARNINGS (LOSS)0.59 1.79 2.59 1.93 6.90 1.32 1.22 1.82 1.92 6.30 0.60 
LESS ADJUSTMENTS
Utility— — — 1.87 1.87 — — — 0.21 0.21 1.66 
Parent & Other— — — (0.31)(0.31)— — — (0.05)(0.05)(0.26)
Entergy Wholesale Commodities(0.55)0.42 0.15 (0.34)(0.32)0.50 (0.13)(0.70)1.08 0.74 (1.06)
TOTAL ADJUSTMENTS(0.55)0.42 0.15 1.22 1.24 0.50 (0.13)(0.70)1.24 0.90 0.34 
ADJUSTED EARNINGS (LOSS)
Utility1.59 1.71 2.74 1.03 7.08 1.20 1.70 2.88 1.14 6.95 0.13 
Parent & Other(0.45)(0.34)(0.30)(0.32)(1.42)(0.38)(0.35)(0.36)(0.46)(1.55)0.13 
Entergy Wholesale Commodities— — — — — — — — — — — 
CONSOLIDATED ADJUSTED EARNINGS (LOSS)1.14 1.37 2.44 0.71 5.66 0.82 1.35 2.52 0.68 5.40 0.26 
Weather Impact (0.25)(0.02)0.01 (0.11)(0.37)(0.12)0.06 0.06 0.22 0.23 (0.60)
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.





FINANCIAL RESULTS
ENTERGY CORPORATION CONSOLIDATED QUARTERLY ADJUSTMENTS - BY ITEM TYPE
Shown as Positive/(Negative) Impact on Earnings
 20202019FY
(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                                 
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015— — — (25)(25)— — — — — (25)
Income tax effect on Utility adjustments above (a)— — — — — — — — 
2014 / 2015 IRS settlement - E-LA business combination— — — 396 396 — — — — — 396 
Reversal of income tax valuation allowance— — — — — — — — 41 41 (41)
Total — — — 377 377 — — — 41 41 335 
PARENT & OTHER ADJUSTMENTS                                 
2014 / 2015 IRS settlement - E-LA business combination— — — (61)(61)— — — — — (61)
Income tax item related to valuation allowance for interest deductibility— — — — — — — — (11)(11)11 
Total — — — (61)(61)— — — (11)(11)(51)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Income before income taxes(141)110 43 30 42 163 (35)(171)31 (12)55 
Income taxes31 (24)(12)(99)(105)(66)31 187 161 (266)
Preferred dividend requirements(1)(1)(1)(1)(2)(1)(1)(1)(2)— 
Total (111)85 30 (69)(65)97 (26)(141)217 147 (212)
TOTAL ADJUSTMENTS(111)85 30 246 250 97 (26)(141)248 177 73 
 20202019FY
(After-tax, per share in $) (b) 1Q  2Q  3Q  4Q FY 1Q  2Q  3Q  4Q FY CHANGE
UTILITY ADJUSTMENTS           
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015— — — (0.09)(0.09)— — — — — (0.09)
2014 / 2015 IRS settlement - E-LA business combination— — — 1.96 1.96 — — — — — 1.96 
Reversal of income tax valuation allowance— — — — — — — — 0.21 0.21 (0.21)
Total — — — 1.87 1.87 — — — 0.21 0.21 1.66 
PARENT & OTHER ADJUSTMENTS           
2014 / 2015 IRS settlement - E-LA business combination— — — (0.31)(0.31)— — — — — (0.31)
Income tax item related to valuation allowance for interest deductibility— — — — — — — — (0.05)(0.05)0.05 
Total — — — (0.31)(0.31)— — — (0.05)(0.05)(0.26)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Total (0.55)0.42 0.15 (0.34)(0.32)0.50 (0.13)(0.70)1.08 0.74 (1.06)
TOTAL ADJUSTMENTS(0.55)0.42 0.15 1.22 1.24 0.50 (0.13)(0.70)1.24 0.90 0.34 
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
20202019FY
(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— — — (25)(25)— — — — — (25)
Income taxes (a)— — — 402 402 — — — 41 41 361 
Total — — — 377 377 — — — 41 41 335 
PARENT & OTHER ADJUSTMENTS
Income taxes (a)— — — (61)(61)— — — (11)(11)(51)
Total — — — (61)(61)— — — (11)(11)(51)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Operating revenues333 200 214 196 943 434 290 300 271 1,295 (352)
Fuel and fuel-related expenses(20)(17)(14)(16)(67)(25)(26)(26)(22)(98)31 
Purchased power(11)(10)(29)(18)(68)(16)(15)(18)(10)(59)(9)
Nuclear refueling outage expense(12)(12)(11)(11)(45)(12)(12)(12)(12)(49)
Other O&M(131)(140)(114)(115)(500)(189)(188)(136)(165)(678)178 
Asset write-offs and impairments(5)(7)(4)(10)(27)(74)(16)(198)(2)(290)263 
Decommissioning expense(50)(51)(51)(53)(205)(63)(64)(60)(49)(237)32 
Taxes other than income taxes(20)(14)(10)(9)(53)(13)(20)(13)(15)(60)
Depreciation/amortization expense(35)(25)(21)(21)(102)(38)(38)(38)(34)(148)46 
Other income (deductions) - other(184)194 87 92 189 169 64 34 74 340 (152)
Interest expense and other charges(5)(7)(5)(5)(22)(9)(9)(6)(5)(29)
Income taxes 31 (24)(12)(99)(105)(66)31 187 161 (266)
Preferred dividend requirements(1)(1)(1)(1)(2)(1)(1)(1)(1)(2)— 
Total (111)85 30 (69)(65)97 (26)(141)217 147 (212)
TOTAL ADJUSTMENTS (after-tax)(111)85 30 246 250 97 (26)(141)248 177 73 
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) 202020192018
AS-REPORTED EARNINGS (LOSS)
Utility1,800 1,411 1,483 
Parent & Other(347)(316)(292)
Entergy Wholesale Commodities(65)147 (343)
CONSOLIDATED AS-REPORTED EARNINGS 1,388 1,241 849 
LESS ADJUSTMENTS
Utility377 41 222 
Parent & Other(61)(11)— 
Entergy Wholesale Commodities(65)147 (343)
TOTAL ADJUSTMENTS250 177 (121)
ADJUSTED EARNINGS (LOSS)
Utility1,424 1,369 1,261 
Parent & Other(286)(305)(292)
Entergy Wholesale Commodities— — — 
ENTERGY ADJUSTED EARNINGS 1,138 1,064 970 
Weather Impact (75)46 67 
SHARES OF COMMON STOCK OUTSTANDING
($ millions)
End of period 200 199 189 
Weighted average - diluted 201 197 183 
(After-tax, per share in $) (a)202020192018
AS-REPORTED EARNINGS (LOSS)
Utility8.95 7.16 8.09 
Parent & Other(1.73)(1.60)(1.59)
Entergy Wholesale Commodities(0.32)0.74 (1.87)
CONSOLIDATED AS-REPORTED EARNINGS 6.90 6.30 4.63 
LESS ADJUSTMENTS
Utility1.87 0.21 1.21 
Parent & Other(0.31)(0.05)— 
Entergy Wholesale Commodities(0.32)0.74 (1.87)
TOTAL ADJUSTMENTS1.24 0.90 (0.66)
ADJUSTED EARNINGS (LOSS)
Utility7.08 6.95 6.88 
Parent & Other(1.42)(1.55)(1.59)
Entergy Wholesale Commodities— — — 
ENTERGY ADJUSTED EARNINGS 5.66 5.40 5.29 
Weather Impact (0.37)0.23 0.37 
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.




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)202020192018
UTILITY ADJUSTMENTS
Customer sharing associated with internal restructuring— — (40)
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015(25)— — 
Income tax effect on Utility adjustments above (a)— 10 
2012 / 2013 IRS audit settlement— — 43 
Internal restructuring— — 170 
Tax reform— — 38 
2014 / 2015 IRS settlement - E-LA business combination396 — — 
Reversal of income tax valuation allowance— 41 — 
Total 377 41 222 
PARENT & OTHER ADJUSTMENTS
2014 / 2015 IRS settlement - E-LA business combination(61)— — 
Income tax item related to a valuation allowance for interest deductibility— (11)— 
Total(61)(11)— 
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Income before income taxes42 (12)(610)
Income taxes(105)161 269 
Preferred dividend requirements(2)(2)(2)
Total(65)147 (343)
TOTAL ADJUSTMENTS250 177 (121)
(After-tax, per share in $) (b)202020192018
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 
Reversal of income tax valuation allowance— 0.21 — 
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015(0.09)— — 
2014 / 2015 IRS settlement - E-LA business combination1.96 — — 
Total1.87 0.21 1.21 
PARENT & OTHER ADJUSTMENTS
Income tax item related to a valuation allowance for interest deductibility— (0.05)— 
2014 / 2015 IRS settlement - E-LA business combination(0.31)— — 
Total(0.31)(0.05)— 
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Total (0.32)0.74 (1.87)
TOTAL ADJUSTMENTS1.24 0.90 (0.66)
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)202020192018
UTILITY ADJUSTMENTS
Other regulatory charges(25)— (40)
Income taxes (a)402 41 261 
Total 377 41 222 
PARENT & OTHER ADJUSTMENTS
Income taxes (a)(61)(11)— 
Total (61)(11)— 
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Operating revenues943 1,295 1,469 
Fuel and fuel-related expenses(67)(98)(77)
Purchased power(68)(59)(115)
Nuclear refueling outage expense(45)(49)(4)
Other O&M(500)(678)(808)
Asset write-offs and impairments(27)(290)(532)
Decommissioning expense(205)(237)(239)
Taxes other than income taxes(53)(60)(78)
Depreciation/amortization expense(102)(148)(150)
Other income (deductions) - other189 340 (42)
Interest expense and other charges(22)(29)(34)
Income taxes(105)161 269 
Preferred dividend requirements(2)(2)(2)
Total(65)147 (343)
TOTAL ADJUSTMENTS (after-tax)250 177 (121)
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.




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FINANCIAL RESULTS
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
In thousands, except share data, for the years ended December 31, 202020192018
OPERATING REVENUES:
Electric$9,046,643 $9,429,978 $9,384,111 
Natural gas124,008 153,954 156,436 
Competitive businesses942,985 1,294,741 1,468,905 
Total10,113,636 10,878,673 11,009,452 
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale1,564,371 2,029,638 2,147,793 
Purchased power904,268 1,192,860 1,658,799 
Nuclear refueling outage expenses184,157 204,927 153,826 
Other operation and maintenance3,002,626 3,272,381 3,346,397 
Asset write-offs, impairments, and related charges26,623 290,027 532,321 
Decommissioning381,861 400,802 388,508 
Taxes other than income taxes652,840 643,745 641,952 
Depreciation and amortization1,613,086 1,480,016 1,369,442 
Other regulatory charges (credits) – net14,609 (26,220)301,049 
Total8,344,441 9,488,176 10,540,087 
OPERATING INCOME1,769,195 1,390,497 469,365 
OTHER INCOME:
Allowance for equity funds used during construction119,430 144,974 129,602 
Interest and investment income392,818 547,912 63,864 
Miscellaneous – net(210,633)(252,539)(129,754)
Total301,615 440,347 63,712 
INTEREST EXPENSE:
Interest expense837,981 807,382 768,322 
Allowance for borrowed funds used during construction(52,318)(64,957)(60,974)
Total785,663 742,425 707,348 
INCOME (LOSS) BEFORE INCOME TAXES1,285,147 1,088,419 (174,271)
Income taxes(121,506)(169,825)(1,036,826)
CONSOLIDATED NET INCOME1,406,653 1,258,244 862,555 
Preferred dividend requirements of subsidiaries18,319 17,018 13,894 
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION$1,388,334 $1,241,226 $848,661 
Basic earnings per average common share$6.94 $6.36 $4.68 
Diluted earnings per average common share$6.90 $6.30 $4.63 
Basic average number of common shares outstanding200,106,945 195,195,858 181,409,597 
Diluted average number of common shares outstanding201,102,220 196,999,284 183,378,513 




FINANCIAL RESULTS
2020 CONSOLIDATING INCOME STATEMENT (unaudited)
 ENTERGY
In thousands, except share data, for the year ended December 31, 2020.  UTILITY  PARENT & OTHER  EWC  CONSOLIDATED
OPERATING REVENUES:    
Electric$9,046,706 ($63)$— $9,046,643 
Natural gas124,008 — — 124,008 
Competitive businesses— 116 942,869 942,985 
Total9,170,714 53 942,869 10,113,636 
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale1,497,084 (25)67,312 1,564,371 
Purchased power836,689 25 67,554 904,268 
Nuclear refueling outage expenses138,779 — 45,378 184,157 
Other operation and maintenance2,478,020 24,905 499,701 3,002,626 
Asset write-offs, impairments, and related charges— — 26,623 26,623 
Decommissioning176,940 — 204,921 381,861 
Taxes other than income taxes598,554 972 53,314 652,840 
Depreciation and amortization1,508,198 2,835 102,053 1,613,086 
Other regulatory charges (credits) - net14,609 — — 14,609 
Total7,248,873 28,712 1,066,856 8,344,441 
OPERATING INCOME (LOSS)1,921,841 (28,659)(123,987)1,769,195 
OTHER INCOME:
Allowance for equity funds used during construction119,430 — — 119,430 
Interest and investment income299,004 (140,380)234,194 392,818 
Miscellaneous – net(157,381)(7,651)(45,601)(210,633)
Total261,053 (148,031)188,593 301,615 
INTEREST EXPENSE:
Interest expense701,169 114,380 22,432 837,981 
Allowance for borrowed funds used during construction(52,318)— — (52,318)
Total648,851 114,380 22,432 785,663 
INCOME (LOSS) BEFORE INCOME TAXES1,534,043 (291,070)42,174 1,285,147 
Income taxes(282,311)55,868 104,937 (121,506)
CONSOLIDATED NET INCOME (LOSS)1,816,354 (346,938)(62,763)1,406,653 
Preferred dividend requirements of subsidiaries