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etr-20220708

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) July 8, 2022


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.

1-11299	ENTERGY CORPORATION	1-35747	ENTERGY 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
	72-1229752		82-2212934


1-10764	ENTERGY ARKANSAS, LLC	1-34360	ENTERGY TEXAS, INC.
	(a Texas limited liability company) 425 West Capitol Avenue Little Rock, Arkansas 72201 Telephone (501) 377-4000		(a Texas corporation) 2107 Research Forest Drive The Woodlands, Texas 77380 Telephone (409) 981-2000
	83-1918668		61-1435798


1-32718	ENTERGY LOUISIANA, LLC	1-09067	SYSTEM 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
	47-4469646		72-0752777


1-31508	ENTERGY 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:


Registrant	Title of Class	Trading 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 July 8, 2022, Entergy Corporation published on its website the 2021 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			2021 Entergy Statistical Report and Investor Guide
104			Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, 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: July 8, 2022

Document




















ENTERGY STATISTICAL REPORT

AND INVESTOR GUIDE



2021


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, a Fortune 500 company headquartered in New Orleans, powers life for 3 million customers across Arkansas, Louisiana, Mississippi and Texas. Entergy is creating a cleaner, more resilient energy future for everyone with our diverse power generation portfolio, including increasingly carbon-free energy sources. With roots in the Gulf South region for more than a century, Entergy is a recognized leader in corporate citizenship, delivering more than $100 million in economic benefits to local communities through philanthropy and advocacy efforts annually over the last several years. Our approximately 12,500 employees are dedicated to powering life today and for future generations.

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 CONTENTS

Note: The Excel Tab labels correspond to the page numbers

in the PDF version of the 2021 report.

Excel Tab

ABOUT THIS PUBLICATION

Page 2

Utility Securities Detail

Pages 31 – 34

FORWARD-LOOKING INFORMATION

Page 2

Utility Long-Term Debt and Preferred Stock

Page 31

REGULATION G COMPLIANCE

Page 2

Entergy Arkansas, LLC

Page 31

ENTERGY AT A GLANCE

Pages 3 – 4

Entergy Utility Holding Company, LLC

Page 31

Entergy Louisiana, LLC

Page 32

ENTERGY CORPORATION AND SUBSIDIARIES

Entergy Mississippi, LLC

Page 33

Selected Financial and Operating Data

Page 5

Entergy New Orleans, LLC

Page 33

Selected Financial Data

Page 5

Entergy Texas, Inc.

Page 34

Utility Electric Operating Data

Page 5

System Energy Resources, Inc.

Page 34

Entergy Wholesale Commodities Operating Data

Page 5

Utility Statistical Information

Pages 35 – 47

Employees

Page 5

Utility Total Capability

Page 35

Owned and Leased Capability

Page 5

Utility Selected Operating Data

Page 35

Consolidated Quarterly Financial Metrics

Page 6

Utility Electric Statisitcal Information

Page 36

Consolidated Annual Financial Metrics

Page 6

Entergy Arkansas, LLC

Pages 37 – 38

Financial Results

Page 7

Entergy Louisiana, LLC

Pages 39 – 40

GAAP to Non-GAAP Reconciliations:

Page 7

Entergy Mississippi, LLC

Pages 41 – 42

Consolidated Quarterly Results

Page 7

Entergy New Orleans, LLC

Pages 43 – 44

Consolidated Quarterly Adjustments

Pages 8 – 9

System Energy Resources, Inc.

Page 44

Consolidated Annual Results

Page 10

Entergy Texas, Inc.

Pages 45 – 46

Consolidated Annual Adjustments

Pages 11 – 12

Utility Nuclear Plant Statistics

Page 47

Consolidated Statements of Operations

Page 13

Utility Regulatory Information

Page 48

Consolidating Income Statement

Page 14

State Regulatory Commissions

Page 48

Consolidated Balance Sheets

Pages 15 – 16

Commission/Council Members

Page 48

Consolidating Balance Sheet

Pages 17 – 18

Consolidated Statements of Cash Flow

Pages 19 – 20

ENTERGY WHOLESALE COMMODITIES

Cash Flow Information by Business

Page 20

EWC Quarterly Financial Metrics

Page 49

Consolidated Statements of Changes in Equity

Page 21

EWC Annual Financial Metrics

Page 49

Consolidated Statements of Comprehensive

Page 22

EWC Quarterly Operational Metrics

Page 49

Income (Loss)

EWC Annual Operational Metrics

Page 49

Consolidated Capital Expenditures

Page 23

EWC Total Capacity

Page 49

Historical Capital Expenditures

Page 23

EWC Nuclear Plant Statistics

Page 50

Entergy Corporation Securities Detail

Page 23

EWC Nuclear Plant Additional Information

Page 50

Entergy Corporation Long-Term Debt

Page 23

EWC Non-Nuclear Wholesale Assets

Page 50

Securities Ratings (Outlook)

Page 23

Plant Statistics

Preferred Member Interests

Page 23

EWC Non-Nuclear Wholesale Assets

Page 50

UTILITY

Plant Emissions

Utility Quarterly Financial Metrics

Page 24

EWC Non-Nuclear Assets Securities Detail

Page 51

Utility Annual Financial Metrics

Page 24

Vermont Yankee Credit Facility

Page 51

Utility Securities Ratings (Outlook)

Page 24

Preferred Stock

Page 51

Utility Historical Capital Expenditures

Page 24

Utility Financial Results

Pages 25 – 30

DEFINITIONS OF OPERATIONAL MEASURES AND

Utility Consolidating Income Statement

Page 25

GAAP AND NON-GAAP FINANCIAL MEASURES

Page 52

Utility Consolidating Balance Sheet

Pages 26 – 27

Utility Selected Annual Financial Metrics

Pages 28 – 30

REG G RECONCILIATIONS

Financial Measures

Pages 53 – 66

INVESTOR INFORMATION

Page 67


ABOUT THIS PUBLICATION						● effects of climate change, including the potential for increases in extreme weather events
This publication is unaudited and should be used in conjunction with Entergy’s 2021						and sea levels or coastal land and wetland loss;
Annual Report to Shareholders and Form 10-K filed with the Securities and Exchange						● the risk that an incident at any nuclear generation facility in the U.S. could lead to the
Commission. It has been prepared for information purposes and is not intended for use						assessment of significant retrospective assessments and/or retrospective insurance
in connection with any sale or purchase of, or any offer to buy, any securities of Entergy						premiums as a result of Entergy’s participation in a secondary financial protection system
Corporation or its subsidiaries.						and a utility industry mutual insurance company;
						● changes in the quality and availability of water supplies and the related regulation of
FORWARD-LOOKING INFORMATION						water use and diversion;
In this report and from time to time, Entergy Corporation makes statements concerning						● Entergy’s ability to manage its capital projects, including completion of projects timely
its expectations, beliefs, plans, objectives, goals, projections, strategies, and future						and within budget and to obtain the anticipated performance or other benefits, and its
events or performance. Such statements are “forward-looking statements” within the						operation and maintenance costs;
meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,”						● the effects of supply chain disruptions, including those driven by the COVID-19 global
“will,” “could,” “project,” “believe,” “anticipate,” “intend,” “expect,” “estimate,” “continue,”						pandemic or by trade-related governmental actions, on Entergy’s ability to complete its
“potential,” “plan,” “predict,” “forecast,” and other similar words or expressions are						capital projects in a timely and cost-effective manner;
intended to identify forward-looking statements but are not the only means to identify						● Entergy’s ability to purchase and sell assets at attractive prices and on other attractive
these statements. Although Entergy believes that these forward-looking statements and						terms;
the underlying assumptions are reasonable, it cannot provide assurance that they will						● the economic climate, and particularly economic conditions in Entergy’s Utility service
prove correct. Any forward-looking statement is based on information current as of the						area and events and circumstances that could influence economic conditions in those areas,
date of this report and speaks only as of the date on which such statement is made.						including power prices and inflation, and the risk that anticipated load growth may not
Except to the extent required by the federal securities laws, Entergy undertakes no						materialize;
obligation to publicly update or revise any forward-looking statements, whether as a						● changes to federal income tax laws and regulations, including the continued impact of the
result of new information, future events, or otherwise.						Tax Cuts and Jobs Act and its intended and unintended consequences on financial
Forward-looking statements involve a number of risks and uncertainties. There are						results and future cash flows;
factors that could cause actual results to differ materially from those expressed or						● the effects of Entergy’s strategies to reduce tax payments;
implied in the forward-looking statements, including (a) those factors discussed or						● changes in the financial markets and regulatory requirements for the issuance of
incorporated by reference in Item 1A. Risk Factors contained in the Form 10-K for						securities, particularly as they affect access to capital and Entergy’s ability to refinance
the year ended Dec. 31, 2021, (b) those factors discussed or incorporated by reference						existing securities, and fund investments and acquisitions;
in Management’s Financial Discussion and Analysis contained in the Form 10-K for the						● actions of rating agencies, including changes in the ratings of debt and preferred
year ended Dec. 31, 2021, and (c) the following factors (in addition to others described						stock, changes in general corporate ratings, and changes in the rating agencies’ ratings
elsewhere in this report and in subsequent securities filings):						criteria;
● resolution of pending and future rate cases and related litigation, formula rate						● changes in inflation and interest rates;
proceedings and related negotiations, including various performance-based rate						● the effects of litigation and government investigations or proceedings;
discussions, Entergy’s utility supply plan, and recovery of fuel and purchased power costs,						● changes in technology, including (i) Entergy’s ability to implement new or emerging
as well as delays in cost recovery resulting from these proceedings;						technologies, (ii) the impact of changes relating to new, developing, or alternative
● regulatory and operating challenges and uncertainties and economic risks associated						sources of generation such as distributed energy and energy storage, renewable energy,
with the Utility operating companies’ participation in MISO, including the benefits of						energy efficiency, demand side management and other measures that reduce load and
continued MISO participation, the effect of current or projected MISO market rules and						government policies incentivizing development of the foregoing, and (iii) competition from
market and system conditions in the MISO markets, the allocation of MISO system						other companies offering products and services to Entergy’s customers based on new or
transmission upgrade costs, the MISO-wide base rate of return on equity allowed or						emerging technologies or alternative sources of generation;
any MISO-related charges and credits required by the FERC, and the effect of planning						● Entergy's ability to effectively formulate and implement plans to reduce its carbon
decisions that MISO makes with respect to future transmission investments by the						emission rate and aggregate carbon emissions, including its commitment to achieve
Utility operating companies;						net-zero carbon emissions by 2050, and the potential impact on its business of
● changes in utility regulation, including with respect to retail and wholesale competition,						attempting to achieve such objectives;
the ability to recover net utility assets and other potential stranded costs, and the						● the effects, including increased security costs, of threatened or actual terrorism,
application of more stringent return on equity criteria, transmission reliability						cyber-attacks or data security breaches, natural or man-made electromagnetic pulses
requirements or market power criteria by the FERC or the U.S. Department of Justice;						that affect transmission or generation infrastructure, accidents, and war or a catastrophic
● changes in the regulation or regulatory oversight of Entergy’s owned or operated nuclear						event such as a nuclear accident or a natural gas pipeline explosion;
generating facilities and nuclear materials and fuel, and the effects of new or						● the effects of a global or geopolitical event or pandemic, such as the COVID-19 global
existing safety or environmental concerns regarding nuclear power plants and fuel;						pandemic and the military activities between Russia and Ukraine, including economic and
● resolution of pending or future applications, and related regulatory proceedings and						societal disruptions; volatility in the capital markets (and any related increased cost of
litigation, for license modifications or other authorizations required of nuclear generating						capital or any inability to access the capital markets or draw on available bank credit
facilities and the effect of public and political opposition on these applications, regulatory						facilities); reduced demand for electricity, particularly from commercial and industrial
proceedings, and litigation;						customers; increased or unrecoverable costs; supply chain, vendor, and contractor
● the performance of and deliverability of power from Entergy’s generation resources,						disruptions; delays in completion of capital or other construction projects, maintenance, and
including the capacity factors at Entergy’s nuclear generating facilities;						other operations activities, including prolonged or delayed outages; impacts to Entergy’s
● increases in costs and capital expenditures that could result from changing regulatory						workforce availability, health, or safety; increased cybersecurity risks as a result of many
requirements, changing economic conditions, and emerging operating and industry issues,						employees telecommuting; increased late or uncollectible customer payments; regulatory
and the risks related to recovery of these costs and capital expenditures from Entergy’s						delays; executive orders affecting, or increased regulation of, Entergy's business; changes
customers (especially in an increasing cost environment);						in credit ratings or outlooks as a result of any of the foregoing; or other adverse impacts on
● the commitment of substantial human and capital resources required for the safe and						Entergy’s ability to execute on its business strategies and initiatives or, more generally, on
reliable operation and maintenance of Entergy’s nuclear generating facilities;						Entergy’s results of operations, financial condition, and liquidity;
● Entergy’s ability to develop and execute on a point of view regarding future prices of						● Entergy’s ability to attract and retain talented management, directors, and employees
electricity, natural gas, and other energy-related commodities;						with specialized skills;
● the prices and availability of fuel and power Entergy must purchase for its Utility						● Entergy’s ability to attract, retain and manage an appropriately qualified workforce;
customers, and Entergy’s ability to meet credit support requirements for fuel and power						● changes in accounting standards and corporate governance;
supply contracts;						● declines in the market prices of marketable securities and resulting funding
● volatility and changes in markets for electricity, natural gas, uranium, emissions						requirements and the effects on benefits costs for Entergy’s defined benefit pension
allowances, and other energy-related commodities, and the effect of those changes on						and other postretirement benefit plans;
Entergy and its customers;						● future wage and employee benefit costs, including changes in discount rates and
● changes in law resulting from federal or state energy legislation or legislation						returns on benefit plan assets;
subjecting energy derivatives used in hedging and risk management transactions to						● changes in decommissioning trust fund values or earnings or in the timing of,
governmental regulation;						requirements for, or cost to decommission Entergy’s nuclear plant sites and the


● changes in environmental laws and regulations, agency positions or associated						implementation of decommissioning of such sites following shutdown;
litigation, including requirements for reduced emissions of sulfur dioxide, nitrogen oxide,						● the effectiveness of Entergy’s risk management policies and procedures and the
greenhouse gases, mercury, particulate matter and other regulated air emissions, heat						ability and willingness of its counterparties to satisfy their financial and performance
and other regulated discharges to water, requirements for waste management and						commitments; and
disposal and for the remediation of contaminated sites, wetlands protection and						● Entergy and its subsidiaries' ability to successfully execute on their business
permitting, and changes in costs of compliance with environmental laws and regulations;						strategies, including their ability to complete strategic transactions that they may
● changes in laws and regulations, agency positions, or associated litigation related to						undertake.
protected species and associated critical habitat designations;
● the effects of changes in federal, state, or local laws and regulations, and other						REGULATION G COMPLIANCE
governmental actions or policies, including changes in monetary, fiscal, tax,						Financial performance measures shown in this report include those calculated and
environmental, trade/tariff, domestic purchase requirements, or energy policies and						presented in accordance with generally accepted accounting principles (GAAP), as well
related laws, regulations, and other governmental actions;						as those that are considered non-GAAP measures. This report includes non-GAAP
● the effects of full or partial shutdowns of the federal government or delays in obtaining						measures of adjusted earnings; adjusted EPS; adjustments; adjusted EBITDA; adjusted
government or regulatory actions or decisions;						common dividend payout ratio; adjusted ROE; gross liquidity; adjusted return on average
● uncertainty regarding the establishment of interim or permanent sites for spent nuclear						member's equity; adjusted net revenue; adjusted non-fuel O&M; total debt, excluding
fuel and nuclear waste storage and disposal and the level of spent fuel and nuclear						securitization debt; debt to capital, excluding securitization debt; net debt to net capital,
waste disposal fees charged by the U.S. government or other providers related to such						excluding securitization debt; parent debt to total debt, excluding securitization debt; FFO;
sites;						FFO to debt, excluding securitization debt; FFO to debt excluding securitization debt, return
● variations in weather and the occurrence of hurricanes and other storms and disasters,						of unprotected excess ADIT, and severance, and retention payments associated with exit
including uncertainties associated with efforts to remediate the effects of hurricanes						of EWC. We have prepared reconciliations of these measures to the most directly
(including from Hurricane Laura, Hurricane Delta, Hurricane Zeta, and Hurricane Ida), ice						comparable GAAP measures. Reconciliations can be found on pages 7, 10, and 53 – 66.
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

STAKEHOLDER OBJECTIVES

Entergy's Mission: We exist to operate 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 understand their needs and exceed their expectations while keeping rates affordable.

● 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-quartile social responsibility performance. We are active in economic development, philanthropy, volunteerism, and advocacy, and we operate our business safely, resiliently, 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.

ENTERGY BY THE NUMBERS

GAAP revenues						$11.7 billion
GAAP net Income						$1.1 billion
Total assets						$59.5 billion
Utility electric customers						3.0 million
Interconnected high-voltage transmission lines						16,100 circuit miles
Distribution lines across the utility’s 94,000-square-mile service area						105,500 circuit miles
Utility billed retail electric energy sales						114,744 GWh
Employees at year-end						12,369
Utility owned and leased generating capability by fuel source in MW:
Modern Gas						10,508
Nuclear						5,222
Legacy Gas						6,425
Coal						2,097
Renewables						101


ENTERGY AT A GLANCE

UTILITY OPERATIONS

The Utility business segment includes the generation, transmission, distribution, and sale of electric power, and operation of a small
natural gas distribution business.
● Five retail electric utilities with 3 million customers
● Four states – Arkansas, Louisiana, Mississippi, Texas
● 24,353 MW generating capability
● Two gas utilities with 206,000 customers

ENTERGY ARKANSAS, LLC (E-AR)
Entergy Arkansas generates, transmits, distributes, and sells electric power to 728,000 retail customers in Arkansas.

ENTERGY LOUISIANA, LLC (E-LA)
Entergy Louisiana generates, transmits, distributes, and sells electric power to 1,100,000 retail customers in Louisiana.
Entergy Louisiana also provides natural gas utility service to 96,000 customers in the Baton Rouge, Louisiana area.

ENTERGY MISSISSIPPI, LLC (E-MS)
Entergy Mississippi generates, transmits, distributes, and sells electric power to 461,000 retail customers in Mississippi.

ENTERGY NEW ORLEANS, LLC (E-NO)
Entergy New Orleans generates, transmits, distributes, and sells electric power to 209,000 retail customers in the city of New Orleans,
Louisiana. Entergy New Orleans also provides natural gas utility service to 110,000 customers in the city of New Orleans.

ENTERGY TEXAS, INC. (E-TX)
Entergy Texas generates, transmits, distributes, and sells electric power to 486,000 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
	2021	2020	2019
GAAP MEASURES
Operating Revenues ($ millions)	11,743	10,114	10,879
As-Reported Net Income (Loss) Attributable to Entergy Corporation ($ millions)	1,118	1,388	1,241
As-Reported Earnings Per Share ($)	5.54	6.90	6.3
Common Dividend Paid Per Share ($)	3.86	3.74	3.66
Common Dividend Payout Ratio – As-Reported (%)	70	54	58
NON-GAAP MEASURES
Adjusted Earnings ($ millions)	1,215	1,138	1,064
Adjusted Earnings Per Share ($)	6.02	5.66	5.4
Adjustments ($ millions)	(97)	250	177
Adjustments Per Share ($)	(0.48)	1.24	0.9
Common Dividend Payout Ratio – Adjusted (%)	64	66	68


UTILITY ELECTRIC OPERATING DATA
	2021	2020	2019
Retail Kilowatt-Hour Sales (millions)	114,744	111,170	115,911
Peak Demand (megawatts)	22,051	21,340	21,598
Retail Customers – Year End (thousands)	2,984	2,954	2,923


ENTERGY WHOLESALE COMMODITIES OPERATING DATA
	2021	2020	2019
Billed Electric Energy Sales (gigawatt hours)	11,328	20,581	28,088


EMPLOYEES
	2021	2020	2019
Total Employees – Year End	12,369	13,400	13,635


OWNED AND LEASED CAPABILITY (MW)(a)
As of December 31, 2021

	E-AR	E-LA	E-MS	E-NO	E-TX	SERI	EWC(b)(c)(d)	Total
Gas/Oil	2,091	8,261	2,938	639	3,004	—	213	17,146
Coal	1,193	340	312	—	252	—	181	2,278
Total Fossil	3,284	8,601	3,250	639	3,256	—	394	19,424
Nuclear	1,819	2,140	—	—	—	1,263	811	6,033
Hydro	72	—	—	—	—	—	—	72
Solar	—	—	2	27	—	—	—	29
Total	5,175	10,741	3,252	666	3,256	1,263	1,205	25,558
(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

	2021					2020					FY
	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q	FY	CHANGE
GAAP MEASURES
ROE – as-reported (%)(a)	15.1	11.6	11.3	9.9	9.9	11.5	12.2	13.3	13.1	13.1	(3.2)
Cash and cash equivalents ($ millions)	1,743	687	1,000	443	443	1,464	935	1,240	1,759	1,759	(1,317)
Revolver capacity ($ millions)	4,220	4,125	3,925	3,985	3,985	3,348	4,110	4,125	4,110	4,110	(124)
Commercial paper ($ millions)	1,028	866	1,006	1,201	1,201	1,942	1,946	1,398	1,627	1,627	(426)
Total debt ($ millions)	25,803	25,435	25,695	27,154	27,154	21,465	21,493	22,127	24,062	24,062	3,092
Securitization debt ($ millions)	147	114	90	84	84	271	232	209	175	175	(91)
Debt to capital (%)	69.6	69.5	69.1	69.5	69.5	67.2	66.8	66.7	68.3	68.3	1.2
Off-balance sheet liabilities ($ millions)
Debt of joint ventures – Entergy’s share	15	12	9	7	7	53	51	49	17	17	(10)
Total off-balance sheet liabilities	15	12	9	7	7	53	51	49	17	17	(10)

NON-GAAP MEASURES
ROE – adjusted (%)(a)	11.3	11.3	10.9	10.8	10.8	11.8	11.4	10.9	10.8	10.8	0
Gross liquidity ($ millions)	5,963	4,812	4,925	4,428	4,428	4,811	5,045	5,364	5,869	5,869	(1,441)
Net liquidity ($ millions)	4,935	3,946	3,919	3,227	3,227	2,870	3,099	3,966	4,241	4,241	(1,014)
Net liquidity, including storm escrows ($ millions)	5,007	4,018	3,952	3,260	3,260	3,242	3,472	4,339	4,357	4,357	(1,097)
Debt to capital, excluding securitization debt (%)	69.5	69.4	69.0	69.4	69.4	66.9	66.6	66.5	68.1	68.1	1.3
Net debt to net capital, excluding securitization debt (%)	68.0	68.9	68.1	69.1	69.1	65.3	65.6	65.2	66.4	66.4	2.6
Parent debt to total debt, excluding securitization debt (%)	22.3	22.4	23.4	22.2	22.2	22.2	22.0	22.4	21.6	21.6	0.6
FFO to debt, excluding securitization debt (%)	8.2	8.3	8.3	7.7	7.7	14.3	14.6	11.8	10.3	10.3	(2.6)
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%)	8.7	9.3	9.2	8.4	8.4	16.0	16.0	12.5	10.9	10.9	(2.5)
Totals may not foot due to rounding.
(a) Rolling twelve months.


CONSOLIDATED ANNUAL FINANCIAL METRICS

	2021	2020	2019
GAAP MEASURES
ROE – as-reported (%)	9.9	13.1	13.0
Cash and cash equivalents ($ millions)	443	1,759	426
Revolver capacity ($ millions)	3,985	4,110	3,810
Commercial paper ($ millions)	1,201	1,627	1,947
Total debt ($ millions)	27,154	24,062	19,885
Securitization debt ($ millions)	84	175	298
Debt to capital (%)	69.5	68.3	65.5
Off-balance sheet liabilities ($ millions)
Debt of joint ventures – Entergy’s share	7	17	54
Total off-balance sheet liabilities	7	17	54

NON-GAAP MEASURES
ROE – adjusted (%)	10.8	10.8	11.2
Gross liquidity ($ millions)	4,428	5,869	4,236
Net liquidity ($ millions)	3,227	4,241	2,289
Net liquidity, including storm escrows ($ millions)	3,260	4,357	2,701
Debt to capital, excluding securitization debt (%)	69.4	68.1	65.1
Net debt to net capital, excluding securitization debt (%)	69.1	66.4	64.6
Parent debt to total debt, excluding securitization debt (%)	22.2	21.6	21.6
FFO to debt, excluding securitization debt (%)	7.7	10.3	14.6
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%)	8.4	10.9	16.8
Totals may not foot due to rounding.


FINANCIAL RESULTS

ENTERGY CORPORATION CONSOLIDATED QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION

	2021					2020					FY
(After-tax, $ in millions)	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q	FY	CHANGE
AS-REPORTED EARNINGS (LOSS)
Utility	357	326	570	238	1,490	320	345	552	584	1,800	(310)
Parent & Other	(60)	(57)	(65)	(68)	(249)	(90)	(69)	(61)	(127)	(347)	98
Entergy Wholesale Commodities	38	(275)	26	89	(123)	(111)	85	30	(69)	(65)	(58)
CONSOLIDATED AS-REPORTED EARNINGS (LOSS)	335	(6)	531	259	1,118	119	361	521	388	1,388	(270)

LESS ADJUSTMENTS
Utility	—	—	11	16	27	—	—	—	377	377	(350)
Parent & Other	—	—	—	(1)	(1)	—	—	—	(61)	(61)	61
Entergy Wholesale Commodities	38	(275)	26	89	(123)	(111)	85	30	(69)	(65)	(58)
TOTAL ADJUSTMENTS	38	(275)	37	104	(97)	(111)	85	30	246	250	(347)

ADJUSTED EARNINGS (LOSS)
Utility	357	326	559	222	1,464	320	345	552	207	1,424	40
Parent & Other	(60)	(57)	(65)	(67)	(248)	(90)	(69)	(61)	(66)	(286)	37
Entergy Wholesale Commodities	—	—	—	—	—	—	—	—	—	—	—
CONSOLIDATED ADJUSTED EARNINGS (LOSS)	297	269	494	155	1,215	230	276	491	142	1,138	77

Weather Impact	24	(19)	(2)	(10)	(7)	(50)	(4)	1	(22)	(75)	68

SHARES OF COMMON STOCK OUTSTANDING
($ millions)
End of period	201	201	201	203	203	200	200	200	200	200	3
Diluted average	201	201	202	203	202	201	201	201	201	201	1

	2021					2020					FY
(After-tax, per share in $) (a)	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q	FY	CHANGE
AS-REPORTED EARNINGS (LOSS)
Utility	1.77	1.62	2.82	1.17	7.38	1.59	1.71	2.74	2.90	8.95	(1.57)
Parent & Other	(0.30)	(0.28)	(0.32)	(0.33)	(1.23)	(0.45)	(0.34)	(0.30)	(0.63)	(1.73)	0.50
Entergy Wholesale Commodities	0.19	(1.37)	0.13	0.44	(0.61)	(0.55)	0.42	0.15	(0.34)	(0.32)	(0.29)
CONSOLIDATED AS-REPORTED EARNINGS (LOSS)	1.66	(0.03)	2.63	1.28	5.54	0.59	1.79	2.59	1.93	6.90	(1.36)

LESS ADJUSTMENTS
Utility	—	—	0.05	0.08	0.13	—	—	—	1.87	1.87	(1.74)
Parent & Other	—	—	—	—	—	—	—	—	(0.31)	(0.31)	0.31
Entergy Wholesale Commodities	0.19	(1.37)	0.13	0.44	(0.61)	(0.55)	0.42	0.15	(0.34)	(0.32)	(0.29)
TOTAL ADJUSTMENTS	0.19	(1.37)	0.18	0.52	(0.48)	(0.55)	0.42	0.15	1.22	1.24	(1.72)

ADJUSTED EARNINGS (LOSS)
Utility	1.77	1.62	2.77	1.09	7.25	1.59	1.71	2.74	1.03	7.08	0.17
Parent & Other	(0.30)	(0.28)	(0.32)	(0.33)	(1.23)	(0.45)	(0.34)	(0.30)	(0.32)	(1.42)	0.19
Entergy Wholesale Commodities	—	—	—	—	—	—	—	—	—	—	—
CONSOLIDATED ADJUSTED EARNINGS (LOSS)	1.47	1.34	2.45	0.76	6.02	1.14	1.37	2.44	0.71	5.66	0.36

Weather Impact	0.12	(0.09)	(0.01)	(0.05)	(0.03)	(0.25)	(0.02)	0.01	(0.11)	(0.37)	0.34
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

	2021					2020					FY
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions)	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q	FY	CHANGE
UTILITY ADJUSTMENTS
Gain on sale	—	—	15	—	15	—	—	—	—	—	15
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015	—	—	—	—	—	—	—	—	(25)	(25)	25
Income tax effect on Utility adjustments above (a)	—	—	(4)	—	(4)	—	—	—	6	6	(10)
Income tax valuation allowance	—	—	—	(8)	(8)	—	—	—	—	—	(8)
Provision for uncertain tax position	—	—	—	(5)	(5)	—	—	—	—	—	(5)
State corporate income tax rate change	—	—	—	29	29	—	—	—	—	—	29
2014 / 2015 IRS settlement - E-LA business combination	—	—	—	—	—	—	—	—	396	396	(396)
Total	—	—	11	16	27	—	—	—	377	377	(350)
PARENT & OTHER ADJUSTMENTS
State corporate income tax rate change	—	—	—	(1)	(1)	—	—	—	—	—	(1)
2014 / 2015 IRS settlement - E-LA business combination	—	—	—	—	—	—	—	—	(61)	(61)	61
Total	—	—	—	(1)	(1)	—	—	—	(61)	(61)	61
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Income before income taxes	54	(346)	35	112	(146)	(141)	110	43	30	42	(188)
Income taxes	(16)	72	(9)	(22)	25	31	(24)	(12)	(99)	(105)	130
Preferred dividend requirements	(1)	(1)	(1)	(1)	(2)	(1)	(1)	(1)	(1)	(2)	—
Total	38	(275)	26	89	(123)	(111)	85	30	(69)	(65)	(58)
TOTAL ADJUSTMENTS	38	(275)	37	104	(97)	(111)	85	30	246	250	(347)


	2021					2020					FY
(After-tax, per share in $) (b)	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q	FY	CHANGE
UTILITY ADJUSTMENTS
Gain on sale	—	—	0.05	—	0.05	—	—	—	—	—	0.05
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015	—	—	—	—	—	—	—	—	(0.09)	(0.09)	0.09
Income tax valuation allowance	—	—	—	(0.04)	(0.04)	—	—	—	—	—	(0.04)
Provision for uncertain tax position	—	—	—	(0.02)	(0.02)	—	—	—	—	—	(0.02)
State corporate income tax rate change	—	—	—	0.14	0.14	—	—	—	—	—	0.14
2014 / 2015 IRS settlement - E-LA business combination	—	—	—		—	—	—	—	1.96	1.96	(1.96)
Total	—	—	0.05	0.08	0.13	—	—	—	1.87	1.87	(1.74)
PARENT & OTHER ADJUSTMENTS
2014 / 2015 IRS settlement - E-LA business combination	—	—	—	—	—	—	—	—	(0.31)	(0.31)	0.31
Total	—	—	—	—	—	—	—	—	(0.31)	(0.31)	0.31
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Total	0.19	(1.37)	0.13	0.44	(0.61)	(0.55)	0.42	0.15	(0.34)	(0.32)	(0.29)
TOTAL ADJUSTMENTS	0.19	(1.37)	0.18	0.52	(0.48)	(0.55)	0.42	0.15	1.22	1.24	(1.72)
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

	2021					2020					FY
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions)	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q	FY	CHANGE
UTILITY ADJUSTMENTS
Other O&M	—	—	15	—	15	—	—	—	—	—	15
Other regulatory charges	—	—	—	—	—	—	—	—	(25)	(25)	25
Income taxes (a)	—	—	(4)	16	12	—	—	—	402	402	(390)
Total	—	—	11	16	27	—	—	—	377	377	(350)
PARENT & OTHER ADJUSTMENTS
Income taxes (a)	—	—	—	(1)	(1)	—	—	—	(61)	(61)	61
Total	—	—	—	(1)	(1)	—	—	—	(61)	(61)	61
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Operating revenues	248	149	162	139	698	333	200	214	196	943	(245)
Fuel and fuel-related expenses	(21)	(17)	(24)	(20)	(83)	(20)	(17)	(14)	(16)	(67)	(15)
Purchased power	(18)	(18)	(22)	(15)	(73)	(11)	(10)	(29)	(18)	(68)	(5)
Nuclear refueling outage expense	(11)	(11)	(11)	(11)	(45)	(12)	(12)	(11)	(11)	(45)	(1)
Other O&M	(99)	(83)	(51)	(53)	(287)	(131)	(140)	(114)	(115)	(500)	213
Asset write-offs and impairments	(3)	(342)	—	82	(264)	(5)	(7)	(4)	(10)	(27)	(237)
Decommissioning expense	(53)	(40)	(14)	(14)	(120)	(50)	(51)	(51)	(53)	(205)	85
Taxes other than income taxes	(6)	(6)	(2)	(3)	(17)	(20)	(14)	(10)	(9)	(53)	36
Depreciation/amortization expense	(13)	(14)	(9)	(9)	(44)	(35)	(25)	(21)	(21)	(102)	58
Other income (deductions) - other	34	41	9	18	101	(184)	194	87	92	189	(87)
Interest expense and other charges	(4)	(4)	(3)	(2)	(13)	(5)	(7)	(5)	(5)	(22)	9
Income taxes	(16)	72	(9)	(22)	25	31	(24)	(12)	(99)	(105)	130
Preferred dividend requirements	(1)	(1)	(1)	(1)	(2)	(1)	(1)	(1)	(1)	(2)	—
Total	38	(275)	26	89	(123)	(111)	85	30	(69)	(65)	(58)
TOTAL ADJUSTMENTS (after-tax)	38	(275)	37	104	(97)	(111)	85	30	246	250	(347)
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)	2021	2020	2019
AS-REPORTED EARNINGS (LOSS)
Utility	1,490	1,800	1,411
Parent & Other	(249)	(347)	(316)
Entergy Wholesale Commodities	(123)	(65)	147
CONSOLIDATED AS-REPORTED EARNINGS	1,118	1,388	1,241

LESS ADJUSTMENTS
Utility	27	377	41
Parent & Other	(1)	(61)	(11)
Entergy Wholesale Commodities	(123)	(65)	147
TOTAL ADJUSTMENTS	(97)	250	177

ADJUSTED EARNINGS (LOSS)
Utility	1,464	1,424	1,369
Parent & Other	(248)	(286)	(305)
Entergy Wholesale Commodities	—	—	—
ENTERGY ADJUSTED EARNINGS	1,215	1,138	1,064

Weather Impact	(7)	(75)	46

SHARES OF COMMON STOCK OUTSTANDING
($ millions)
End of period	203	200	199
Weighted average - diluted	202	201	197

(After-tax, per share in $) (a)	2021	2020	2019
AS-REPORTED EARNINGS (LOSS)
Utility	7.38	8.95	7.16
Parent & Other	(1.23)	(1.73)	(1.60)
Entergy Wholesale Commodities	(0.61)	(0.32)	0.74
CONSOLIDATED AS-REPORTED EARNINGS	5.54	6.90	6.30

LESS ADJUSTMENTS
Utility	0.13	1.87	0.21
Parent & Other	—	(0.31)	(0.05)
Entergy Wholesale Commodities	(0.61)	(0.32)	0.74
TOTAL ADJUSTMENTS	(0.48)	1.24	0.90

ADJUSTED EARNINGS (LOSS)
Utility	7.25	7.08	6.95
Parent & Other	(1.23)	(1.42)	(1.55)
Entergy Wholesale Commodities	—	—	—
ENTERGY ADJUSTED EARNINGS	6.02	5.66	5.40

Weather Impact	(0.03)	(0.37)	0.23
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)	2021	2020	2019
UTILITY ADJUSTMENTS
Gain on sale	15	—	—
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015	—	(25)	—
Income tax effect on Utility adjustments above (a)	(4)	6	—
Income tax valuation allowance	(8)	—	—
Provision for uncertain tax position	(5)	—	—
State corporate income tax rate change	29	—	—
2014 / 2015 IRS settlement - E-LA business combination	—	396	—
Reversal of income tax valuation allowance	—	—	41
Total	27	377	41
PARENT & OTHER ADJUSTMENTS
State corporate income tax rate change	(1)
2014 / 2015 IRS settlement - E-LA business combination	—	(61)	—
Income tax item related to a valuation allowance for interest deductibility	—	—	(11)
Total	(1)	(61)	(11)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Income before income taxes	(146)	42	(12)
Income taxes	25	(105)	161
Preferred dividend requirements	(2)	(2)	(2)
Total	(123)	(65)	147
TOTAL ADJUSTMENTS	(97)	250	177

(After-tax, per share in $) (b)	2021	2020	2019
UTILITY ADJUSTMENTS
Gain on sale	0.05	—	—
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015	—	(0.09)	—
Income tax valuation allowance	(0.04)	—	—
Provision for uncertain tax position	(0.02)	—	—
State corporate income tax rate change	0.14	—	—
2014 / 2015 IRS settlement - E-LA business combination	—	1.96	—
Reversal of income tax valuation allowance	—	—	0.21
Total	0.13	1.87	0.21
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	(0.61)	(0.32)	0.74
TOTAL ADJUSTMENTS	(0.48)	1.24	0.90
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)	2021	2020	2019
UTILITY ADJUSTMENTS
Other O&M	15	—	—
Other regulatory charges	—	(25)	—
Income taxes (a)	12	402	41
Total	27	377	41
PARENT & OTHER ADJUSTMENTS
Income taxes (a)	(1)	(61)	(11)
Total	(1)	(61)	(11)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Operating revenues	698	943	1,295
Fuel and fuel-related expenses	(83)	(67)	(98)
Purchased power	(73)	(68)	(59)
Nuclear refueling outage expense	(45)	(45)	(49)
Other O&M	(287)	(500)	(678)
Asset write-offs and impairments	(264)	(27)	(290)
Decommissioning expense	(120)	(205)	(237)
Taxes other than income taxes	(17)	(53)	(60)
Depreciation/amortization expense	(44)	(102)	(148)
Other income (deductions) - other	101	189	340
Interest expense and other charges	(13)	(22)	(29)
Income taxes	25	(105)	161
Preferred dividend requirements	(2)	(2)	(2)
Total	(123)	(65)	147
TOTAL ADJUSTMENTS (after-tax)	(97)	250	177
Totals may not foot due to rounding.
(a) Income taxes represents the income tax effect of the adjustments which were calculated using the estimated income tax rate that is expected to apply to each item, as well as tax adjustments as a result of tax reform.

(Page left blank intentionally)


FINANCIAL RESULTS

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

In thousands, except share data, for the years ended December 31,	2021	2020	2019
OPERATING REVENUES:
Electric	$10,873,995	$9,046,643	$9,429,978
Natural gas	170,610	124,008	153,954
Competitive businesses	698,291	942,985	1,294,741
Total	11,742,896	10,113,636	10,878,673
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale	2,458,096	1,564,371	2,029,638
Purchased power	1,271,677	904,268	1,192,860
Nuclear refueling outage expenses	172,636	184,157	204,927
Other operation and maintenance	2,968,621	3,002,626	3,272,381
Asset write-offs, impairments, and related charges	263,625	26,623	290,027
Decommissioning	306,411	381,861	400,802
Taxes other than income taxes	660,290	652,840	643,745
Depreciation and amortization	1,684,286	1,613,086	1,480,016
Other regulatory charges (credits) – net	111,628	14,609	(26,220)
Total	9,897,270	8,344,441	9,488,176
OPERATING INCOME	1,845,626	1,769,195	1,390,497
OTHER INCOME:
Allowance for equity funds used during construction	70,473	119,430	144,974
Interest and investment income	430,466	392,818	547,912
Miscellaneous – net	(201,778)	(210,633)	(252,539)
Total	299,161	301,615	440,347
INTEREST EXPENSE:
Interest expense	863,712	837,981	807,382
Allowance for borrowed funds used during construction	(29,018)	(52,318)	(64,957)
Total	834,694	785,663	742,425
INCOME BEFORE INCOME TAXES	1,310,093	1,285,147	1,088,419
Income taxes	191,374	(121,506)	(169,825)
CONSOLIDATED NET INCOME	1,118,719	1,406,653	1,258,244
Preferred dividend requirements of subsidiaries and noncontrolling interest	227	18,319	17,018
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$1,118,492	$1,388,334	$1,241,226
Basic earnings per average common share	$5.57	$6.94	$6.36
Diluted earnings per average common share	$5.54	$6.90	$6.30
Basic average number of common shares outstanding	200,941,511	200,106,945	195,195,858
Diluted average number of common shares outstanding	201,873,024	201,102,220	196,999,284


FINANCIAL RESULTS

2021 CONSOLIDATING INCOME STATEMENT (unaudited)
				ENTERGY
In thousands, except share data, for the year ended December 31, 2021.	UTILITY	PARENT & OTHER	EWC	CONSOLIDATED
OPERATING REVENUES:
Electric	$10,874,064	($69)	$—	$10,873,995
Natural gas	170,610	—	—	170,610
Competitive businesses	—	127	698,164	698,291
Total	11,044,674	58	698,164	11,742,896
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale	2,375,456	(29)	82,669	2,458,096
Purchased power	1,198,755	29	72,893	1,271,677
Nuclear refueling outage expenses	127,758	—	44,878	172,636
Other operation and maintenance	2,657,025	25,068	286,528	2,968,621
Asset write-offs, impairments, and related charges	—	—	263,625	263,625
Decommissioning	186,238	—	120,173	306,411
Taxes other than income taxes	642,604	493	17,193	660,290
Depreciation and amortization	1,637,151	2,706	44,429	1,684,286
Other regulatory charges - net	111,628	—	—	111,628
Total	8,936,615	28,267	932,388	9,897,270
OPERATING INCOME	2,108,059	(28,209)	(234,224)	1,845,626
OTHER INCOME (DEDUCTIONS):
Allowance for equity funds used during construction	70,473	—	—	70,473
Interest and investment income	442,817	(130,948)	118,597	430,466
Miscellaneous – net	(176,649)	(8,020)	(17,109)	(201,778)
Total	336,641	(138,968)	101,488	299,161
INTEREST EXPENSE:
Interest expense	721,022	129,356	13,334	863,712
Allowance for borrowed funds used during construction	(29,018)	—	—	(29,018)
Total	692,004	129,356	13,334	834,694
INCOME BEFORE INCOME TAXES	1,752,696	(296,533)	(146,070)	1,310,093
Income taxes	264,209	(47,454)	(25,381)	191,374
CONSOLIDATED NET INCOME	1,488,487	(249,079)	(120,689)	1,118,719
Preferred dividend requirements of subsidiaries and noncontrolling interest	(1,933)	(28)	2,188	227
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$1,490,420	($249,051)	($122,877)	$1,118,492
Basic earnings per average common share	$7.42	($1.24)	($0.61)	$5.57
Diluted earnings per average common share	$7.38	($1.23)	($0.61)	$5.54
Totals may not foot due to rounding.