Entergy Texas 8K Regulation FD Disclosure | ETI-P 30 Jun 20

Entergy Texas (ETI-P) 8-KRegulation FD Disclosure

ENTERGY STATISTICAL REPORT

AND INVESTOR GUIDE

2019

Our Vision: We Power Life

Our Mission: We exist to grow a world-class energy business that creates sustainable value for our four key stakeholders – our customers, our employees, our communities and our owners.

Entergy Corporation (NYSE:ETR) is an integrated energy company
engaged primarily in electric power production and retail distribution
operations. Entergy owns and operates power plants with
approximately 30,000 megawatts of electric generating capacity,
including nearly 9,000 megawatts of nuclear power. Entergy delivers
electricity to 2.9 million utility customers in Arkansas, Louisiana,
Mississippi and Texas. Entergy has annual revenues of $11 billion and approximately 13,600 employees.

We have assembled the statistics and facts in this report to support your review and analysis of Entergy’s results over the last three years.

This information is available in two electronic files, Excel and PDF in order to facilitate easier access and analysis.

Entergy Investor Relations



TABLE OF CONTENTS		Note: The Excel Tab labels correspond to the page numbers
		in the PDF version of the 2019 report.
	Excel Tab		Excel Tab
ABOUT THIS PUBLICATION	Page 2	Utility Securities Detail	Pages 31 – 34
FORWARD-LOOKING INFORMATION	Page 2	Utility Long-Term Debt and Preferred Stock	Page 31
REGULATION G COMPLIANCE	Page 2	Entergy Arkansas, LLC	Page 31
ENTERGY AT A GLANCE	Pages 3 – 4	Entergy Utility Holding Company, LLC	Page 31
		Entergy Louisiana, LLC	Page 32
ENTERGY CORPORATION AND SUBSIDIARIES		Entergy Mississippi, LLC	Page 33
Selected Financial and Operating Data	Page 5	Entergy New Orleans, LLC	Page 33
Selected Financial Data	Page 5	Entergy Texas, Inc.	Page 34
Utility Electric Operating Data	Page 5	System Energy Resources, Inc.	Page 34
Entergy Wholesale Commodities Operating Data	Page 5	Utility Statistical Information	Pages 35 – 47
Employees	Page 5	Utility Total Capability	Page 35
Owned and Leased Capability	Page 5	Utility Selected Operating Data	Page 35
Consolidated Quarterly Financial Metrics	Page 6	Utility Electric Statisitcal Information	Page 36
Consolidated Annual Financial Metrics	Page 6	Entergy Arkansas, LLC	Pages 37 – 38
Financial Results	Page 7	Entergy Louisiana, LLC	Pages 39 – 40
GAAP to Non-GAAP Reconciliations:	Page 7	Entergy Mississippi, LLC	Pages 41 – 42
Consolidated Quarterly Results	Page 7	Entergy New Orleans, LLC	Pages 43 – 44
Consolidated Quarterly Adjustments	Pages 8 – 9	System Energy Resources, Inc.	Page 44
Consolidated Annual Results	Page 10	Entergy Texas, Inc.	Pages 45 – 46
Consolidated Annual Adjustments	Pages 11 – 12	Utility Nuclear Plant Statistics	Page 47
Consolidated Statements of Operations	Page 13	Utility Regulatory Information	Page 48
Consolidating Income Statement	Page 14	State Regulatory Commissions	Page 48
Consolidated Balance Sheets	Pages 15 – 16	Commission/Council Members	Page 48
Consolidating Balance Sheet	Pages 17 – 18
Consolidated Statements of Cash Flow	Pages 19 – 20	ENTERGY WHOLESALE COMMODITIES
Cash Flow Information by Business	Page 20	EWC Quarterly Financial Metrics	Page 49
Consolidated Statements of Changes in Equity	Page 21	EWC Annual Financial Metrics	Page 49
Consolidated Statements of Comprehensive	Page 22	EWC Quarterly Operational Metrics	Page 49
Income (Loss)		EWC Annual Operational Metrics	Page 49
Consolidated Capital Expenditures	Page 23	EWC Total Capacity	Page 49
Historical Capital Expenditures	Page 23	EWC Nuclear Plant Statistics	Page 50
Entergy Corporation Securities Detail	Page 23	EWC Nuclear Plant Additional Information	Page 50
Entergy Corporation Long-Term Debt	Page 23	EWC Non-Nuclear Wholesale Assets	Page 50
Securities Ratings (Outlook)	Page 23	Plant Statistics
Preferred Member Interests	Page 23	EWC Non-Nuclear Wholesale Assets	Page 50
UTILITY		Plant Emissions
Utility Quarterly Financial Metrics	Page 24	EWC Non-Nuclear Assets Securities Detail	Page 51
Utility Annual Financial Metrics	Page 24	Vermont Yankee Credit Facility	Page 51
Utility Securities Ratings (Outlook)	Page 24	Preferred Stock	Page 51
Utility Historical Capital Expenditures	Page 24
Utility Financial Results	Pages 25 – 30	DEFINITIONS OF OPERATIONAL MEASURES AND
Utility Consolidating Income Statement	Page 25	GAAP AND NON-GAAP FINANCIAL MEASURES	Page 52
Utility Consolidating Balance Sheet	Pages 26 – 27
Utility Selected Annual Financial Metrics	Pages 28 – 30	REG G RECONCILIATIONS
		Financial Measures	Pages 53 – 66

		INVESTOR INFORMATION	Page 67



ABOUT THIS PUBLICATION	• variations in weather and the occurrence of hurricanes and other storms and disasters,
This publication is unaudited and should be used in conjunction with Entergy’s 2019	including uncertainties associated with efforts to remediate the effects of hurricanes, ice
Annual Report to Shareholders and Form 10-K filed with the Securities and Exchange	storms, or other weather events and the recovery of costs associated with restoration,
Commission. It has been prepared for information purposes and is not intended for use	including accessing funded storm reserves, federal and local cost recovery mechanisms,
in connection with any sale or purchase of, or any offer to buy, any securities of Entergy	securitization, and insurance, as well as any related unplanned outages;
Corporation or its subsidiaries.	• the risk that an incident at any nuclear generation facility in the U.S. could lead to the
	assessment of significant retrospective assessments and/or retrospective insurance
FORWARD-LOOKING INFORMATION	premiums as a result of Entergy’s participation in a secondary financial protection
In this report and from time to time, Entergy Corporation makes statements concerning	system, a utility industry mutual insurance company, and industry self- insurance
its expectations, beliefs, plans, objectives, goals, strategies, and future events or	programs;
performance. Such statements are “forward-looking statements” within the meaning of	• effects of climate change, including the potential for increases in extreme weather
the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,”	events and sea levels or coastal land and wetland loss;
“could,” “project,” “believe,” “anticipate,” “intend,” “expect,” “estimate,” “continue,”	• changes in the quality and availability of water supplies and the related regulation of
“potential,” “plan,” “predict,” “forecast,” and other similar words or expressions are	water use and diversion;
intended to identify forward-looking statements but are not the only means to identify	• Entergy’s ability to manage its capital projects, including completion of projects timely
these statements. Although Entergy believes that these forward-looking statements and	and within budget and to obtain the anticipated performance or other benefits, and its
the underlying assumptions are reasonable, it cannot provide assurance that they will	operation and maintenance costs;
prove correct. Any forward-looking statement is based on information current as of the	• Entergy’s ability to purchase and sell assets at attractive prices and on other attractive
date of this report and speaks only as of the date on which such statement is made.	terms;
Except to the extent required by the federal securities laws, Entergy undertakes no	• the economic climate, and particularly economic conditions in Entergy’s Utility service
obligation to publicly update or revise any forward-looking statements, whether as a	area and the northern United States and events and circumstances that could influence
result of new information, future events, or otherwise.	economic conditions in those areas, including power prices, and the risk that anticipated
Forward-looking statements involve a number of risks and uncertainties. There are	load growth may not materialize;
factors that could cause actual results to differ materially from those expressed or	• federal income tax reform, including the Tax Cuts and Jobs Act and its intended and
implied in the forward-looking statements, including those factors discussed or	unintended consequences on financial results and future cash flows;
incorporated by reference in (a) Item 1A. Risk Factors contained in the Form 10-K for	• the effects of Entergy’s strategies to reduce tax payments;
the year ended Dec. 31, 2019, (b) those factors discussed or incorporated by reference	• changes in the financial markets and regulatory requirements for the issuance of
in Management’s Financial Discussion and Analysis contained in the Form 10-K for the	securities, particularly as they affect access to capital and Entergy’s ability to refinance
year ended Dec. 31, 2019, and (c) the following factors (in addition to others described	existing securities, execute share repurchase programs, and fund investments and
elsewhere in this report and in subsequent securities filings):	acquisitions;
• resolution of pending and future rate cases, formula rate proceedings and related	• actions of rating agencies, including changes in the ratings of debt and preferred
negotiations, including various performance-based rate discussions, Entergy’s utility	stock, changes in general corporate ratings, and changes in the rating agencies’ ratings
supply plan, and recovery of fuel and purchased power costs;	criteria;
• continuing long-term risks and uncertainties associated with the termination of the	• changes in inflation and interest rates;
System Agreement in 2016, including the potential absence of federal authority to	• the effects of litigation and government investigations or proceedings;
resolve certain issues among the Utility operating companies and their retail regulators;	• changes in technology, including (i) Entergy’s ability to implement new or emerging
• regulatory and operating challenges and uncertainties and economic risks associated	technologies, (ii) the impact of changes relating to new, developing, or alternative
with the Utility operating companies’ participation in MISO, including the benefits of	sources of generation such as distributed energy and energy storage, renewable energy,
continued MISO participation, the effect of current or projected MISO market rules and	energy efficiency, demand side management and other measures that reduce load and
market and system conditions in the MISO markets, the allocation of MISO system	government policies incentivizing development of the foregoing, and (iii) competition from
transmission upgrade costs, the MISO-wide base rate of return on equity allowed or	other companies offering products and services to Entergy’s customers based on new or
any MISO-related charges and credits required by the FERC, and the effect of planning	emerging technologies or alternative sources of generation;
decisions that MISO makes with respect to future transmission investments by the	• the effects, including increased security costs, of threatened or actual terrorism,
Utility operating companies;	cyber-attacks or data security breaches, natural or man-made electromagnetic pulses
• changes in utility regulation, including with respect to retail and wholesale competition,	that affect transmission or generation infrastructure, accidents, and war or a catastrophic
the ability to recover net utility assets and other potential stranded costs, and the	event such as a nuclear accident or a natural gas pipeline explosion;
application of more stringent return on equity criteria, transmission reliability	• the effects of a global event or pandemic, such as the COVID-19 global pandemic,
requirements or market power criteria by the FERC or the U.S. Department of Justice;	including economic and societal disruptions; volatility in the capital markets (and any
• changes in the regulation or regulatory oversight of Entergy’s nuclear generating	related increased cost of capital or any inability to access the capital markets or draw
facilities and nuclear materials and fuel, including with respect to the planned or actual	on available bank credit facilities); reduced demand for electricity, particularly from
shutdown and sale of each of the nuclear generating facilities owned or operated by	commercial and industrial customers; increased or unrecoverable costs; supply chain,
Entergy Wholesale Commodities, and the effects of new or existing safety or	vendor, and contractor disruptions; delays in completion of capital or other construction
environmental concerns regarding nuclear power plants and nuclear fuel;	projects, maintenance, and other operations activities, including prolonged outages;
• resolution of pending or future applications, and related regulatory proceedings and	impacts to Entergy’s workforce availability, health, or safety; increased cybersecurity



litigation, for license modifications or other authorizations required of nuclear generating	risks as a result of many employees telecommuting; increased late or uncollectible
facilities and the effect of public and political opposition on these applications, regulatory	customer payments; regulatory delays; executive orders affecting, or increased
proceedings, and litigation;	regulation of, our business; changes in credit ratings or outlooks as a result of any of the
• the performance of and deliverability of power from Entergy’s generation resources,	foregoing; or other adverse impacts on Entergy’s ability to execute on its business
including the capacity factors at Entergy’s nuclear generating facilities;	strategies and initiatives or, more generally, on Entergy’s results of operations, financial
• increases in costs and capital expenditures that could result from changing regulatory	condition, and liquidity;
requirements, emerging operating and industry issues, and the commitment of	• Entergy’s ability to attract and retain talented management, directors, and employees
substantial human and capital resources required for the safe and reliable operation and	with specialized skills;
maintenance of Entergy’s nuclear generating facilities;	• Entergy’s ability to attract, retain and manage an appropriately qualified workforce;
• Entergy’s ability to develop and execute on a point of view regarding future prices of	• changes in accounting standards and corporate governance;
electricity, natural gas, and other energy-related commodities;	• declines in the market prices of marketable securities and resulting funding
• prices for power generated by Entergy’s merchant generating facilities and the ability	requirements and the effects on benefits costs for Entergy’s defined benefit pension
to hedge, meet credit support requirements for hedges, sell power forward or otherwise	and other postretirement benefit plans;
reduce the market price risk associated with those facilities, including the Entergy	• future wage and employee benefit costs, including changes in discount rates and
Wholesale Commodities nuclear plants, especially in light of the planned shutdown and	returns on benefit plan assets;
sale of each of these nuclear plants;	• changes in decommissioning trust fund values or earnings or in the timing of,
• the prices and availability of fuel and power Entergy must purchase for its Utility	requirements for, or cost to decommission Entergy’s nuclear plant sites and the
customers, and Entergy’s ability to meet credit support requirements for fuel and power	implementation of decommissioning of such sites following shutdown;
supply contracts;	• the decision to cease merchant power generation at all Entergy Wholesale
• volatility and changes in markets for electricity, natural gas, uranium, emissions	Commodities nuclear power plants by mid-2022, including the implementation of the
allowances, and other energy-related commodities, and the effect of those changes on	planned shutdowns and sales of Indian Point 2, Indian Point 3, and Palisades;
Entergy and its customers;	• the effectiveness of Entergy’s risk management policies and procedures and the
• changes in law resulting from federal or state energy legislation or legislation	ability and willingness of its counterparties to satisfy their financial and performance
subjecting energy derivatives used in hedging and risk management transactions to	commitments;
governmental regulation;	• the potential for the factors listed herein to lead to the impairment of long-lived assets;
• changes in environmental laws and regulations, agency positions or associated	and
litigation, including requirements for reduced emissions of sulfur dioxide, nitrogen oxide,	• Entergy and its subsidiaries 'ability to successfully execute on their business
greenhouse gases, mercury, particulate matter and other regulated air emissions, heat	strategies, including their ability to complete strategic transactions that Entergy may
and other regulated discharges to water, requirements for waste management and	undertake.
disposal and for the remediation of contaminated sites, wetlands protection and
permitting, and changes in costs of compliance with environmental laws and regulations;	REGULATION G COMPLIANCE
• changes in laws and regulations, agency positions, or associated litigation related to	Financial performance measures shown in this report include those calculated and
protected species and associated critical habitat designations;	presented in accordance with generally accepted accounting principles (GAAP), as well
• the effects of changes in federal, state, or local laws and regulations, and other	as those that are considered non-GAAP measures. This report includes non-GAAP
governmental actions or policies, including changes in monetary, fiscal, tax,	measures of adjusted earnings; adjusted EPS; adjustments; adjusted EBITDA; adjusted
environmental, trade/tariff, domestic purchase requirements, or energy policies;	common dividend payout ratio; adjusted ROIC; adjusted ROE; gross liquidity; adjusted
• the effects of full or partial shutdowns of the federal government or delays in obtaining	return on average member's equity; adjusted net revenue; adjusted non-fuel O&M; total
government or regulatory actions or decisions;	debt, excluding securitization debt; debt to capital, excluding securitization debt; net
• uncertainty regarding the establishment of interim or permanent sites for spent nuclear	debt to net capital, excluding securitization debt; parent debt to total debt, excluding
fuel and nuclear waste storage and disposal and the level of spent fuel and nuclear	securitization debt; FFO; FFO to debt, excluding securitization debt; FFO to debt
waste disposal fees charged by the U.S. government or other providers related to such	excluding securitization debt, return of unprotected excess ADIT, and severance, and
sites;	retention payments associated with exit of EWC. We have prepared reconciliations of
	these measures to the most directly comparable GAAP measures. Reconciliations can
	be found on pages 7, 10, and 53 – 66.



ENTERGY AT A GLANCE

VISION, MISSION AND STAKEHOLDER OBJECTIVES

We power life. This is our vision. It goes much further than powering the grid. Together, we are on a journey with our stakeholders to improve lives, build businesses and create prosperity.

We exist to grow a world-class energy business that creates sustainable value for our four key stakeholders – our customers, our employees, our communities, and our owners.

• For our customers, we create value by delivering top-quartile customer experience. We work directly with customers to anticipate their needs and exceed their expectations while also keeping rates reasonable.

• For our employees, we create value by advocating for our employees to live safe, all day, every day. We strive to earn top-quartile organizational health scores. We provide a rewarding, engaging, diverse, and inclusive work environment with fair compensation and benefits while also providing opportunities for career advancement.

• For our communities, we create value by achieving top-decile corporate social responsibility performance. We are active in economic development, philanthropy, volunteerism, and advocacy, and we operate our business safely and in a socially and environmentally responsible way.

• For our owners, we create value by delivering top-quartile total shareholder returns. We are relentless in our pursuit of opportunities to optimize our business.

BUSINESS STRATEGY

Our strategy to achieve our stakeholder objectives has two key aspects. First, we invest in the utility for the benefit of our customers, which supports steady, predictable growth in earnings and dividends. Second, we manage risk by ensuring our utility investments are customer-centric, supported by progressive regulatory constructs, and executed with disciplined project management.

ENTERGY BY THE NUMBERS

GAAP Revenues		$10.9 billion
GAAP Net Income		$1.2 billion
Total Assets		$51.7 billion
Utility Retail Electric Customers		2.9 million
Interconnected High-Voltage Transmission Lines		16,000 circuit miles
Distribution Lines		105,000 circuit miles
Utility Billed Retail Electric Energy Sales		129,121 GWh
EWC Billed Electric Energy Sales		28,088 GWh
Employees at Year-end		13,635
Total Owned and Leased Generating Capability by Fuel Source in MW:
CCGT/CT		8,330
Nuclear		8,087
Legacy Gas		7,011
Coal		2,401
Hydro/Solar		75



ENTERGY AT A GLANCE

OPERATIONS

UTILITY
The Utility business segment includes the generation, transmission,		ENTERGY WHOLESALE COMMODITIES (EWC)
distribution, and sale of electric power, and operation of a small natural gas		Entergy has announced the sale and closure of the EWC nuclear assets, completing
distribution business.		its plan to exit the merchant power business and transition to a pure-play utility.
• Five retail electric utilities with 2.9 million customers
• Four states – Arkansas, Louisiana, Mississippi, Texas		The EWC business segment includes the ownership, operation, and decommissioning
• 22,630 MW generating capability		of nuclear power plants located in the northern United States and the sale of the electric
• Two gas utilities with 202,000 customers		power produced by its operating plants to wholesale customers. EWC also provides
		services to other nuclear power plant owners and owns interest in non-nuclear power
ENTERGY ARKANSAS, LLC (E-AR)		plants that sell the electric power produced by those plants to wholesale customers.
Entergy Arkansas generates, transmits, distributes, and sells electric
power to 715,000 retail customers in Arkansas.		• 2,880 MW nuclear-owned generating capacity in three units in northern U.S.
		• Indian Point Energy Center Units 2 and 3 in Buchanan, New York
ENTERGY LOUISIANA, LLC (E-LA)		• Palisades Nuclear Plant in Covert, Michigan
Entergy Louisiana generates, transmits, distributes, and sells electric		• 394 net owned MW non-nuclear generating capacity
power to 1,091,000 retail customers in Louisiana. Entergy		• 800 MW under management support services contract
Louisiana also provides natural gas utility service to 94,000 customers in		• Cooper Nuclear Station located near Brownville, Nebraska
the Baton Rouge, Louisiana area.
		James A. FitzPatrick Nuclear Power Plant was sold on March 31, 2017. Vermont Yankee
ENTERGY MISSISSIPPI, LLC (E-MS)		Nuclear Power Station was sold on January 11, 2019. Pilgrim Nuclear Power Station
Entergy Mississippi generates, transmits, distributes, and sells electric		was sold on August 26, 2019. Entergy plans to close Indian Point 2 on April 30, 2020,
power to 451,000 retail customers in Mississippi.		Indian Point 3 on April 30, 2021, and Palisades on May 31, 2022.

ENTERGY NEW ORLEANS, LLC (E-NO)
Entergy New Orleans generates, transmits, distributes, and sells
electric power to 205,000 retail customers in the city of New Orleans,
Louisiana. Entergy New Orleans also provides natural gas utility
service to 108,000 customers in the city of New Orleans.

ENTERGY TEXAS, INC. (E-TX)
Entergy Texas generates, transmits, distributes, and sells electric power
to 461,000 retail customers in Texas.

SYSTEM ENERGY RESOURCES, INC. (SERI)
System Energy owns or leases 90% of the Grand Gulf 1 nuclear
generating facility. System Energy sells its power and capacity from
Grand Gulf 1 at wholesale to Entergy Arkansas (36%), Entergy Louisiana (14%),
Entergy Mississippi (33%) and Entergy New Orleans (17%).

UTILITY NUCLEAR PLANTS
Entergy owns and operates five nuclear units at four plant sites to serve
its regulated utility business: Arkansas Nuclear One (ANO) Units 1 and 2
near Russellville, Arkansas; Grand Gulf Nuclear Station Unit 1 in Port Gibson,
Mississippi; River Bend Station in St. Francisville, Louisiana and
Waterford Steam Electric Station Unit 3 in Killona, Louisiana.



SELECTED FINANCIAL AND OPERATING DATA

SELECTED FINANCIAL DATA
	2019	2018		2017
GAAP MEASURES
Operating Revenues ($ millions)	10,879	11,009		11,074
As-Reported Net Income (Loss) Attributable to Entergy Corporation ($ millions)	1,241	849		412
As-Reported Earnings Per Share ($)	6.3	4.63		2.28
Common Dividend Paid Per Share ($)	3.66	3.58		3.50
Common Dividend Payout Ratio – As-Reported (%)	58	77		154
NON-GAAP MEASURES
Adjusted Earnings ($ millions)	1,064	970		715
Adjusted Earnings Per Share ($)	5.40	5.29		3.96
Adjustments ($ millions)	177	(121	)	(303	)
Adjustments Per Share ($)	0.9	(0.66	)	(1.68	)
Common Dividend Payout Ratio – Adjusted (%)	68	68		88


UTILITY ELECTRIC OPERATING DATA
	2019	2018		2017
Retail Kilowatt-Hour Sales (millions)	129,121	117,498		112,859
Peak Demand (megawatts)	21,598	21,587		21,671
Retail Customers – Year End (thousands)	2,923	2,901		2,884


ENTERGY WHOLESALE COMMODITIES OPERATING DATA
	2019	2018		2017
Billed Electric Energy Sales (gigawatt hours)	28,088	29,875		30,501


EMPLOYEES
	2019	2018		2017
Total Employees – Year End	13,635	13,688		13,504



OWNED AND LEASED CAPABILITY (MW)(a)
As of December 31, 2019

	E-AR	E-LA	E-MS	E-NO	E-TX	SERI	EWC(b)(c)(d)	Total
Gas/Oil	2,106	7,556	2,923	507	2,034	—	213	15,339
Coal	1,194	350	417	—	259	—	181	2,401
Total Fossil	3,300	7,906	3,340	507	2,293	—	394	17,740
Nuclear	1,810	2,144	—	—	—	1,254	2,880	8,088
Hydro	73	—	—	—	—	—	—	73
Solar	—	—	2	1	—	—	—	3
Total	5,183	10,050	3,342	508	2,293	1,254	3,274	25,904
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based
on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Nuclear reflects Net MW in Operation. Net MW in Operation is the installed capacity owned and operated. Excludes management
services contract for Cooper Nuclear Station.
(c) Fossil reflects nameplate rating of generating unit and excludes capacity under contract.
(d) The owned MW capacity for coal is the portion of the plant capacity owned by Entergy Wholesale Commodities.



CONSOLIDATED ENTERGY CORPORATION AND SUBSIDIARIES DATA

CONSOLIDATED QUARTERLY FINANCIAL METRICS

	2019					2018					FY
	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q	FY	CHANGE
GAAP MEASURES
ROIC – as-reported (%)(a)	5.6	5.5	4.8	6.3	6.3	3.9	3.2	3.7	5.3	5.3	1.0
ROE – as-reported (%)(a)	11.4	10.8	8.6	13.0	13.0	5.8	3.6	5.1	10.1	10.1	2.9
Cash and cash equivalents ($ millions)	983	636	956	426	426	1,206	813	988	481	481	(55	)
Revolver capacity ($ millions)	3,950	4,120	4,115	3,810	3,810	3,010	3,885	3,653	4,056	4,056	(246	)
Commercial paper ($ millions)	1,942	1,635	1,918	1,947	1,947	655	1,945	1,947	1,942	1,942	5
Total debt ($ millions)	19,325	19,054	19,441	19,885	19,885	17,680	17,881	18,485	18,133	18,133	1,752
Securitization debt ($ millions)	398	360	338	298	298	520	483	463	424	424	(126	)
Debt to capital (%)	67.8	65.5	65.4	65.5	65.5	68.4	68.5	68.2	66.7	66.7	(1.2	)
Off-balance sheet liabilities ($ millions)
Debt of joint ventures – Entergy’s share	59	58	56	54	54	66	64	62	61	61	(7	)
Leases – Entergy’s share	—	—	—	—	—	429	429	429	448	448	(448	)
Power purchase agreements accounted for as leases(b)	—	—	—	—	—	136	136	136	106	106	(106	)
Total off-balance sheet liabilities	59	58	56	54	54	631	629	627	615	615	(561	)

NON-GAAP MEASURES
ROIC – adjusted (%)(a)	5.5	5.5	5.6	5.6	5.6	5.0	5.2	5.5	5.7	5.7	(0.1	)
ROE – adjusted (%)(a)	11.5	11.0	11.4	11.2	11.2	9.4	10.1	10.7	11.5	11.5	(0.3	)
Gross liquidity ($ millions)	4,933	4,756	5,071	4,236	4,236	4,216	4,698	4,641	4,537	4,537	(301	)
Debt to capital, excluding securitization debt (%)	67.3	65.1	65.0	65.1	65.1	67.7	67.9	67.7	66.1	66.1	(1.0	)
Net debt to net capital, excluding securitization debt (%)	66.1	64.3	63.8	64.6	64.6	66.1	66.9	66.4	65.5	65.5	(0.9	)
Parent debt to total debt, excluding securitization debt (%)	21.7	19.4	20.5	21.6	21.6	21.1	24.1	24.5	22.6	22.6	(1.0	)
FFO to debt, excluding securitization debt (%)	11.1	11.8	14.2	14.6	14.6	14.8	15.4	13.1	11.7	11.7	2.9
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%)	15.0	15.8	17.6	16.8	16.8	15.3	15.9	15.0	15.3	15.3	1.5
Totals may not foot due to rounding.
(a) Rolling twelve months.
(b) For further detail, see Note 10 on page 159 of the 2019 SEC Form 10-K.



CONSOLIDATED ANNUAL FINANCIAL METRICS

	2019	2018	2017
GAAP MEASURES
ROIC – as-reported (%)	6.3	5.3	3.4
ROE – as-reported (%)	13.0	10.1	5.1
Cash and cash equivalents ($ millions)	426	481	781
Revolver capacity ($ millions)	3,810	4,056	4,174
Commercial paper ($ millions)	1,947	1,942	1,467
Total debt ($ millions)	19,885	18,133	16,677
Securitization debt ($ millions)	298	424	545
Debt to capital (%)	65.5	66.7	67.1
Off-balance sheet liabilities ($ millions)
Debt of joint ventures – Entergy’s share	54	61	67
Leases – Entergy’s share	—	448	429
Power purchase agreements accounted for as leases(a)	—	106	136
Total off-balance sheet liabilities	54	615	632

NON-GAAP MEASURES
ROIC – adjusted (%)	5.6	5.7	4.6
ROE – adjusted (%)	11.2	11.5	8.9
Gross liquidity ($ millions)	4,236	4,537	4,955
Debt to capital, excluding securitization debt (%)	65.1	66.1	66.3
Net debt to net capital, excluding securitization debt (%)	64.6	65.5	65.2
Parent debt to total debt, excluding securitization debt (%)	21.6	22.6	21.8
FFO to debt, excluding securitization debt (%)	14.6	11.7	15.1
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%)	16.8	15.3	15.7
Totals may not foot due to rounding.
(a) For further detail, see Note 10 on page 159 of the 2019 SEC Form 10-K.



FINANCIAL RESULTS

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

	2019										2018										FY
(After-tax, $ in millions)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY		CHANGE
AS-REPORTED EARNINGS (LOSS)
Utility	231		331		578		271		1,411		215		376		505		388		1,483		(73	)
Parent & Other	(73	)	(69	)	(72	)	(103	)	(316	)	(64	)	(73	)	(73	)	(81	)	(292	)	(24	)
Entergy Wholesale Commodities	97		(26	)	(141	)	217		147		(18	)	(57	)	105		(373	)	(343	)	490
CONSOLIDATED AS-REPORTED EARNINGS (LOSS)	255		236		365		385		1,241		133		245		536		(66	)	849		393

LESS ADJUSTMENTS
Utility	—		—		—		41		41		—		43		—		179		222		(180	)
Parent & Other	—		—		—		(11	)	(11	)	—		—		—		—		—		(11	)
Entergy Wholesale Commodities	97		(26	)	(141	)	217		147		(18	)	(57	)	105		(373	)	(343	)	490
TOTAL ADJUSTMENTS	97		(26	)	(141	)	248		177		(18	)	(14	)	105		(194	)	(121	)	298

ADJUSTED EARNINGS (LOSS)
Utility	231		331		578		229		1,369		215		333		505		209		1,262		108
Parent & Other	(73	)	(69	)	(72	)	(92	)	(305	)	(64	)	(73	)	(73	)	(81	)	(291	)	(14	)
Entergy Wholesale Commodities	—		—		—		—		—		—		—		—		—		—		—
CONSOLIDATED ADJUSTED EARNINGS (LOSS)	158		262		506		137		1,064		151		259		431		128		970		94

Weather Impact	(23	)	12		13		45		46		16		21		5		25		67		(21	)

SHARES OF COMMON STOCK OUTSTANDING
($ millions)
End of period	190		199		199		199		199		181		181		181		189		189		10
Weighted average - diluted	192		194		200		201		197		181		183		184		183		183		14

	2019										2018										FY
(After-tax, per share in $) (a)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY		CHANGE
AS-REPORTED EARNINGS (LOSS)
Utility	1.20		1.70		2.88		1.35		7.16		1.19		2.05		2.75		2.12		8.09		(0.93	)
Parent & Other	(0.38	)	(0.35	)	(0.36	)	(0.51	)	(1.60	)	(0.36	)	(0.40	)	(0.40	)	(0.44	)	(1.59	)	(0.01	)
Entergy Wholesale Commodities	0.50		(0.13	)	(0.70	)	1.08		0.74		(0.10	)	(0.31	)	0.57		(2.04	)	(1.87	)	2.61
CONSOLIDATED AS-REPORTED EARNINGS (LOSS)	1.32		1.22		1.82		1.92		6.30		0.73		1.34		2.92		(0.36	)	4.63		1.67

LESS ADJUSTMENTS
Utility	—		—		—		0.21		0.21		—		0.23		—		0.98		1.21		(1.00	)
Parent & Other	—		—		—		(0.05	)	(0.05	)	—		—		—		—		—		(0.05	)
Entergy Wholesale Commodities	0.50		(0.13	)	(0.70	)	1.08		0.74		(0.10	)	(0.31	)	0.57		(2.04	)	(1.87	)	2.61
TOTAL ADJUSTMENTS	0.50		(0.13	)	(0.70	)	1.24		0.90		(0.10	)	(0.08	)	0.57		(1.06	)	(0.66	)	1.56

ADJUSTED EARNINGS (LOSS)
Utility	1.20		1.70		2.88		1.14		6.95		1.19		1.82		2.75		1.14		6.88		0.07
Parent & Other	(0.38	)	(0.35	)	(0.36	)	(0.46	)	(1.55	)	(0.36	)	(0.40	)	(0.40	)	(0.44	)	(1.59	)	0.04
Entergy Wholesale Commodities	—		—		—		—		—		—		—		—		—		—		—
CONSOLIDATED ADJUSTED EARNINGS (LOSS)	0.82		1.35		2.52		0.68		5.40		0.83		1.42		2.35		0.71		5.29		0.11

Weather Impact	(0.12	)	0.06		0.06		0.22		0.23		0.09		0.11		0.03		0.13		0.37		(0.14	)
Totals may not foot due to rounding.
(a) Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period.



FINANCIAL RESULTS

ENTERGY CORPORATION CONSOLIDATED QUARTERLY ADJUSTMENTS - BY ITEM TYPE
Shown as Positive/(Negative) Impact on Earnings

	2019										2018										FY
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY		CHANGE
UTILITY ADJUSTMENTS
Customer sharing associated with internal restructuring	—		—		—		—		—		`		—		—		(40	)	(40	)	40
Income tax effect on Utility adjustments above (a)	—		—		—		—		—		—		—		—		10		10		(10	)
2012 / 2013 IRS audit settlement	—		—		—		—		—		—		43		—		—		43		(43	)
Internal restructuring	—		—		—		—		—		—		—		—		170		170		(170	)
Tax reform	—		—		—		—		—		—		—		—		38		38		(38	)
Reversal of income tax valuation allowance	—		—		—		41		41		—		—		—		—		—		41
Total	—		—		—		41		41		—		43		—		179		222		(180	)
PARENT & OTHER ADJUSTMENTS
Income tax item related to valuation allowance for interest deductibility	—		—		—		(11	)	(11	)	—		—		—		—		—		(11	)
Total	—		—		—		(11	)	(11	)	—		—		—		—		—		(11	)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Income before income taxes	163		(35	)	(171	)	31		(12	)	(19	)	(86	)	(30	)	(474	)	(610	)	597
Income taxes	(66	)	9		31		187		161		1		30		136		102		269		(108	)
Preferred dividend requirements	1		(1	)	(1	)	(1	)	(2	)	(1	)	(1	)	(1	)	(1	)	(2	)	—
Total	97		(26	)	(141	)	217		147		(18	)	(57	)	105		(373	)	(343	)	490
TOTAL ADJUSTMENTS	97		(26	)	(141	)	248		177		(18	)	(14	)	105		(194	)	(121	)	298



	2019										2018										FY
(After-tax, per share in $) (b)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY		CHANGE
UTILITY ADJUSTMENTS
2012 / 2013 IRS audit settlement	—		—		—		—		—		—		0.23		—		—		0.23		(0.23	)
Internal restructuring	—		—		—		—		—		—		—		—		0.93		0.93		(0.93	)
Customer sharing associated with internal restructuring	—		—		—		—		—		—		—		—		(0.16	)	(0.16	)	0.16
Tax reform	—		—		—		—		—		—		—		—		0.21		0.21		(0.21	)
Reversal of income tax valuation allowance	—		—		—		0.21		0.21		—		—		—		—		—		0.21
Total	—		—		—		0.21		0.21		—		0.23		—		0.98		1.21		(1.00	)
PARENT & OTHER ADJUSTMENTS
Income tax item related to valuation allowance for interest deductibility	—		—		—		(0.05	)	(0.50	)	—		—		—		—		—		(0.05	)
Total	—		—		—		(0.05	)	(0.50	)	—		—		—		—		—		(0.05	)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Total	0.50		(0.13	)	(0.70	)	1.08		0.74		(0.10	)	(0.31	)	0.57		(2.04	)	(1.87	)	2.61
TOTAL ADJUSTMENTS	0.50		(0.13	)	(0.70	)	1.24		0.90		(0.10	)	(0.08	)	0.57		(1.06	)	(0.66	)	1.56
Totals may not foot due to rounding.
(a) Income tax effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply.
(b) EPS effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply to each adjustment and then dividing by
the diluted average number of common shares outstanding for the period.



FINANCIAL RESULTS

ENTERGY CORPORATION CONSOLIDATED QUARTERLY ADJUSTMENTS - BY INCOME STATEMENT LINE ITEM
Shown as Positive/(Negative) Impact on Earnings

	2019										2018										FY
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY		CHANGE
UTILITY ADJUSTMENTS
Other regulatory charges	—		—		—		—		—		—		—		—		(40	)	(40	)	40
Income taxes (a)	—		—		—		41		41		—		43		—		219		261		(220	)
Total	—		—		—		41		41		—		43		—		179		222		(180	)
PARENT & OTHER ADJUSTMENTS
Income taxes (a)	—		—		—		(11	)	(11	)	—		—		—		—		—		(11	)
Total	—		—		—		(11	)	(11	)	—		—		—		—		—		(11	)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Operating revenues	434		290		300		271		1,295		419		309		380		361		1,469		(174	)
Fuel and fuel-related expenses	(25	)	(26	)	(26	)	(22	)	(98	)	(20	)	(19	)	(19	)	(19	)	(77	)	(21	)
Purchased power	(16	)	(15	)	(18	)	(10	)	(59	)	(17	)	(18	)	(20	)	(61	)	(115	)	57
Nuclear refueling outage expense	(12	)	(12	)	(12	)	(12	)	(49	)	(2	)	(1	)	—		(1	)	(4	)	(45	)
Other O&M	(189	)	(188	)	(136	)	(165	)	(678	)	(191	)	(200	)	(209	)	(208	)	(808	)	130
Asset write-offs and impairments	(74	)	(16	)	(198	)	(2	)	(290	)	(73	)	(69	)	(155	)	(235	)	(532	)	242
Decommissioning expense	(63	)	(64	)	(60	)	(49	)	(237	)	(58	)	(60	)	(56	)	(64	)	(239	)	2
Taxes other than income taxes	(13	)	(20	)	(13	)	(15	)	(60	)	(16	)	(22	)	(19	)	(21	)	(78	)	18
Depreciation/amortization expense	(38	)	(38	)	(38	)	(34	)	(148	)	(38	)	(39	)	(40	)	(34	)	(150	)	2
Other income (deductions) - other	169		64		34		74		340		(14	)	40		116		(185	)	(42	)	382
Interest expense and other charges	(9	)	(9	)	(6	)	(5	)	(29	)	(8	)	(8	)	(9	)	(8	)	(34	)	5
Income taxes	(66	)	9		31		187		161		1		30		136		102		269		(108	)
Preferred dividend requirements	(1	)	(1	)	(1	)	(1	)	(2	)	(1	)	(1	)	(1	)	(1	)	(2	)	—
Total	97		(26	)	(141	)	217		147		(18	)	(57	)	105		(373	)	(343	)	490
TOTAL ADJUSTMENTS (after-tax)	97		(26	)	(141	)	248		177		(18	)	(14	)	105		(194	)	(121	)	298
Totals may not foot due to rounding.
(a) Income taxes represents the income tax effect of the adjustments which were calculated using the estimated income tax rate that is expected to apply to each item, as well as tax adjustments as a result of tax reform.



FINANCIAL RESULTS

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

(After-tax, $ in millions)	2019		2018		2017
AS-REPORTED EARNINGS (LOSS)
Utility	1,411		1,483		762
Parent & Other	(316	)	(292	)	(175	)
Entergy Wholesale Commodities	147		(343	)	(175	)
CONSOLIDATED AS-REPORTED EARNINGS	1,241		849		412

LESS ADJUSTMENTS
Utility	41		222		(181	)
Parent & Other	(11	)	—		52
Entergy Wholesale Commodities	147		(343	)	(175	)
TOTAL ADJUSTMENTS	177		(121	)	(304	)

ADJUSTED EARNINGS (LOSS)
Utility	1,369		1,261		943
Parent & Other	(305	)	(292	)	(227	)
Entergy Wholesale Commodities	—		—		—
ENTERGY ADJUSTED EARNINGS	1,064		970		716

Weather Impact	46		67		(79	)

SHARES OF COMMON STOCK OUTSTANDING
($ millions)
End of period	199		189		181
Weighted average - diluted	197		183		181

(After-tax, per share in $) (a)	2019		2018		2017
AS-REPORTED EARNINGS (LOSS)
Utility	7.16		8.09		4.22
Parent & Other	(1.60	)	(1.59	)	(0.97	)
Entergy Wholesale Commodities	0.74		(1.87	)	(0.97	)
CONSOLIDATED AS-REPORTED EARNINGS	6.30		4.63		2.28

LESS ADJUSTMENTS
Utility	0.21		1.21		(1.00	)
Parent & Other	(0.05	)	—		0.29
Entergy Wholesale Commodities	0.74		(1.87	)	(0.97	)
TOTAL ADJUSTMENTS	0.90		(0.66	)	(1.68	)

ADJUSTED EARNINGS (LOSS)
Utility	6.95		6.88		5.22
Parent & Other	(1.55	)	(1.59	)	(1.26	)
Entergy Wholesale Commodities	—		—		—
ENTERGY ADJUSTED EARNINGS	5.40		5.29		3.96

Weather Impact	0.23		0.37		(0.44	)
Totals may not foot due to rounding.
(a) Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period.



FINANCIAL RESULTS

ENTERGY CORPORATION CONSOLIDATED ANNUAL ADJUSTMENTS - BY ITEM TYPE
Shown as Positive/(Negative) Impact on Earnings

(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions)	2019		2018		2017
UTILITY ADJUSTMENTS
Customer sharing associated with internal restructuring	—		(40	)	—
Customer sharing associated with tax reform	—		—		56
Customer sharing associated with IRS audit items	—		—		—
Income tax effect on Utility adjustments above (a)	—		10		(14	)
2012 / 2013 IRS audit settlement	—		43		—
Internal restructuring	—		170		—
Tax reform	—		38		(222	)
IRS audit items	—		—		—
Reversal of income tax valuation allowance	41		—		—
Total	41		222		(181	)
PARENT & OTHER ADJUSTMENTS
Tax reform	—		—		52
Income tax item related to a valuation allowance for interest deductibility	(11	)	—		—
Total	(11	)	—		52
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Income before income taxes	(12	)	(610	)	(319	)
Income taxes	161		269		146
Preferred dividend requirements	(2	)	(2	)	(2	)
Total	147		(343	)	(175	)
TOTAL ADJUSTMENTS	177		(121	)	(304	)

(After-tax, per share in $) (b)	2019		2018		2017
UTILITY ADJUSTMENTS
2012 / 2013 IRS audit settlement	—		0.23		—
Internal restructuring	—		0.93		—
Customer sharing associated with internal restructuring	—		(0.16	)	—
Tax reform	—		0.21		(1.23	)
Customer sharing associated with tax reform	—		—		0.23
IRS audit items	—		—		—
Customer sharing associated with IRS audit items	—		—		—
Reversal of income tax valuation allowance	0.21		—		—
Total	0.21		1.21		(1.00	)
PARENT & OTHER ADJUSTMENTS
Tax reform	—		—		0.29
Income tax item related to a valuation allowance for interest deductibility	(0.05	)	—		—
Total	(0.05	)	—		0.29
TOTAL ADJUSTMENTS	0.90		(0.66	)	(1.68	)
Totals may not foot due to rounding.
(a) Income tax effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply.
(b) EPS effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply to each
adjustment and then dividing by the diluted average number of common shares outstanding for the period.



FINANCIAL RESULTS

ENTERGY CORPORATION CONSOLIDATED ANNUAL ADJUSTMENTS - BY INCOME STATEMENT LINE ITEM
Shown as Positive/(Negative) Impact on Earnings

(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions)	2019		2018		2017
UTILITY ADJUSTMENTS
Other regulatory charges	—		(40	)	56
Income taxes (a)	41		261		(236	)
Total	41		222		(181	)
PARENT & OTHER ADJUSTMENTS
Income taxes (a)	(11	)	—		52
Total	(11	)	—		52
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Operating revenues	1,295		1,469		1,657
Fuel and fuel-related expenses	(98	)	(77	)	(83	)
Purchased power	(59	)	(115	)	(105	)
Nuclear refueling outage expense	(49	)	(4	)	(14	)
Other O&M	(678	)	(808	)	(863	)
Asset write-offs and impairments	(290	)	(532	)	(538	)
Decommissioning expense	(237	)	(239	)	(255	)
Taxes other than income taxes	(60	)	(78	)	(80	)
Depreciation/amortization expense	(148	)	(150	)	(193	)
Other income (deductions) - other	340		(42	)	180
Interest expense and other charges	(29	)	(34	)	(24	)
Income taxes	161		269		146
Preferred dividend requirements	(2	)	(2	)	(2	)
Total	147		(343	)	(175	)
TOTAL ADJUSTMENTS (after-tax)	177		(121	)	(304	)
Totals may not foot due to rounding.
(a) Income taxes represents the income tax effect of the adjustments which were calculated using the estimated income tax rate that is expected to apply to each item, as well as tax adjustments as a result of tax reform.



(Page left blank intentionally)



FINANCIAL RESULTS

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

In thousands, except share data, for the years ended December 31,	2019			2018			2017
OPERATING REVENUES:
Electric		$9,429,978			$9,384,111			$9,278,895
Natural gas	153,954			156,436			138,856
Competitive businesses	1,294,741			1,468,905			1,656,730
Total	10,878,673			11,009,452			11,074,481
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale	2,029,638			2,147,793			1,991,589
Purchased power	1,192,860			1,658,799			1,427,950
Nuclear refueling outage expenses	204,927			153,826			168,151
Other operation and maintenance	3,272,381			3,346,397			3,306,694
Asset write-offs, impairments, and related charges	290,027			532,321			538,372
Decommissioning	400,802			388,508			405,685
Taxes other than income taxes	643,745			641,952			617,556
Depreciation and amortization	1,480,016			1,369,442			1,389,978
Other regulatory charges (credits) – net	(26,220		)	301,049			(131,901		)
Total	9,488,176			10,540,087			9,714,074
OPERATING INCOME	1,390,497			469,365			1,360,407
OTHER INCOME:
Allowance for equity funds used during construction	144,974			129,602			95,088
Interest and investment income	547,912			63,864			288,197
Miscellaneous – net	(252,539		)	(129,754		)	(113,426		)
Total	440,347			63,712			269,859
INTEREST EXPENSE:
Interest expense	807,382			768,322			707,212
Allowance for borrowed funds used during construction	(64,957		)	(60,974		)	(44,869		)
Total	742,425			707,348			662,343
INCOME (LOSS) BEFORE INCOME TAXES	1,088,419			(174,271		)	967,923
Income taxes	(169,825		)	(1,036,826		)	542,570
CONSOLIDATED NET INCOME	1,258,244			862,555			425,353
Preferred dividend requirements of subsidiaries	17,018			13,894			13,741
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION		$1,241,226			$848,661			$411,612
Basic earnings per average common share		$6.36			$4.68			$2.29
Diluted earnings per average common share		$6.30			$4.63			$2.28
Basic average number of common shares outstanding	195,195,858			181,409,597			179,671,797
Diluted average number of common shares outstanding	196,999,284			183,378,513			180,535,893



FINANCIAL RESULTS

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



FINANCIAL RESULTS

CONSOLIDATED BALANCE SHEETS (unaudited)

In thousands, as of December 31,	2019			2018			2017
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash		$34,242			$56,690			$56,629
Temporary cash investments	391,480			424,285			724,644
Total cash and cash equivalents	425,722			480,975			781,273
Accounts receivable:
Customer	595,509			558,494			673,347
Allowance for doubtful accounts	(7,404		)	(7,322		)	(13,587		)
Other	219,870			167,722			169,377
Accrued unbilled revenues	400,617			395,511			383,813
Total accounts receivable	1,208,592			1,114,405			1,212,950
Deferred fuel costs	—			27,251			95,746
Fuel inventory – at average cost	145,476			117,304			182,643
Materials and supplies – at average cost	824,989			752,843			723,222
Deferred nuclear refueling outage costs	157,568			230,960			133,164
Prepayments and other	283,645			234,326			156,333
Total	3,045,992			2,958,064			3,285,331
OTHER PROPERTY AND INVESTMENTS:
Investment in affiliates – at equity	—			—			198
Decommissioning trust funds	6,404,030			6,920,164			7,211,993
Non-utility property – at cost (less accumulated depreciation)	332,864			304,382			260,980
Other	496,452			437,265			441,862
Total	7,233,346			7,661,811			7,915,033
PROPERTY, PLANT AND EQUIPMENT:
Electric	54,271,467			49,831,486			47,907,914
Natural gas	547,110			496,150			453,162
Construction work in progress	2,823,291			2,888,639			1,980,508
Nuclear fuel	677,181			861,272			923,200
Total property, plant and equipment	58,319,049			54,077,547			51,264,784
Less – accumulated depreciation and amortization	23,136,356			22,103,101			21,600,424
Property, plant and equipment – net	35,182,693			31,974,446			29,664,360
DEFERRED DEBITS AND OTHER ASSETS:
Regulatory assets:
Other regulatory assets (includes securitization property of
$239,219 as of December 31, 2019, $360,790 as of
December 31, 2018 and $485,031 as of December 31, 2017)	5,292,055			4,746,496			4,935,689
Deferred fuel costs	239,892			239,496			239,298
Goodwill	377,172			377,172			377,172
Accumulated deferred income taxes	64,461			54,593			178,204
Other	288,301			262,988			112,062
Total	6,261,881			5,680,745			5,842,425
TOTAL ASSETS		$51,723,912			$48,275,066			$46,707,149



FINANCIAL RESULTS

CONSOLIDATED BALANCE SHEETS (unaudited)

In thousands, as of December 31,	2019			2018			2017
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Currently maturing long-term debt		$795,012			$650,009			$760,007
Notes payable and commercial paper	1,946,727			1,942,339			1,578,308
Accounts payable	1,499,861			1,496,058			1,452,216
Customer deposits	409,171			411,505			401,330
Taxes accrued	233,455			254,241			214,967
Interest accrued	194,129			193,192			187,972
Deferred fuel costs	197,687			52,396			146,522
Pension and other postretirement liabilities	66,184			61,240			71,612
Current portion of unprotected excess accumulated deferred income taxes	76,457			248,127			—
Other	201,780			134,437			223,273
Total	5,620,463			5,443,544			5,036,207

NON-CURRENT LIABILITIES:
Accumulated deferred income taxes and taxes accrued	4,401,190			4,107,152			4,466,503
Accumulated deferred investment tax credits	207,113			213,101			219,634
Regulatory liability for income taxes - net	1,633,159			1,817,021			2,900,204
Other regulatory liabilities	1,961,005			1,620,254			1,588,520
Decommissioning and asset retirement cost liabilities	6,159,212			6,355,543			6,185,814
Accumulated provisions	534,028			514,107			478,273
Pension and other postretirement liabilities	2,798,265			2,616,085			2,910,654
Long-term debt (includes securitization bonds
of $297,981 as of December 31, 2019, $423,858 as of
December 31, 2018, and $544,921 as of December 31, 2017)	17,078,643			15,518,303			14,315,259
Other	852,749			1,006,249			415,763
Total	35,625,364			33,767,815			33,480,624

Commitments and Contingencies

Subsidiaries' preferred stock without sinking fund	219,410			219,402			197,803

COMMON EQUITY:
Common stock, $.01 par value, authorized 500,000,000
shares; issued 270,035,180 shares in 2019; issued 261,587,009 shares
in 2018; and issued 254,752,788 shares in 2017.	2,700			2,616			2,548
Paid-in capital	6,564,436			5,951,431			5,433,433
Retained earnings	9,257,609			8,721,150			7,977,702
Accumulated other comprehensive income (loss)	(446,920		)	(557,173		)	(23,531		)
Less – treasury stock, at cost (70,886,400 shares in 2019,
72,530,866 shares in 2018, and 74,235,135 shares in 2017)	5,154,150			5,273,719			5,397,637
Total common shareholders' equity	10,223,675			8,844,305			7,992,515
Subsidiaries' preferred stock without sinking fund	35,000			—			—
Total	10,258,675			8,844,305			7,992,515
TOTAL LIABILITIES AND EQUITY		$51,723,912			$48,275,066			$46,707,149



FINANCIAL RESULTS

2019 CONSOLIDATING BALANCE SHEET (unaudited)
									ENTERGY
In thousands, as of December 31, 2019	UTILITY			PARENT & OTHER			EWC		CONSOLIDATED
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash		$28,010			$4,858			$1,374		$34,242
Temporary cash investments	173,613			10,192			207,675		391,480
Total cash and cash equivalents	201,623			15,050			209,049		425,722
Notes receivable	—			(514,116		)	514,116		—
Accounts receivable:
Customer	512,228			—			83,281		595,509
Allowance for doubtful accounts	(7,404		)	—			—		(7,404		)
Associated companies	20,481			(25,572		)	5,091		—
Other	210,452			817			8,601		219,870
Accrued unbilled revenues	400,617			—			—		400,617
Total accounts receivable	1,136,374			(24,755		)	96,973		1,208,592
Fuel inventory – at average cost	140,010			—			5,466		145,476
Materials and supplies – at average cost	792,192			—			32,797		824,989
Deferred nuclear refueling outage costs	120,110			—			37,458		157,568
Prepayments and other	171,874			(16,346		)	128,117		283,645
Total	2,562,183			(540,167		)	1,023,976		3,045,992
OTHER PROPERTY AND INVESTMENTS:
Investment in affiliates – at equity	1,468,991			(1,469,077		)	86		—
Decommissioning trust funds	3,719,193			—			2,684,837		6,404,030
Non-utility property – at cost (less accumulated depreciation)	319,504			(5		)	13,365		332,864
Other	492,245			—			4,207		496,452
Total	5,999,933			(1,469,082		)	2,702,495		7,233,346
PROPERTY, PLANT AND EQUIPMENT:
Electric	53,298,795			10,633			962,039		54,271,467
Natural gas	547,110			—			—		547,110
Construction work in progress	2,813,416			245			9,630		2,823,291
Nuclear fuel	612,900			—			64,281		677,181
Total property, plant and equipment	57,272,221			10,878			1,035,950		58,319,049
Less – accumulated depreciation and amortization	22,364,188			2,044			770,124		23,136,356
Property, plant and equipment – net	34,908,033			8,834			265,826		35,182,693
DEFERRED DEBITS AND OTHER ASSETS:
Regulatory assets:
Other regulatory assets (includes securitization property of $239,219	5,292,055			—			—		5,292,055
as of December 31, 2019)
Deferred fuel costs	239,892			—			—		239,892
Goodwill	374,099			—			3,073		377,172
Accumulated deferred income taxes	59,425			1,022			4,014		64,461
Other	122,044			10,680			155,577		288,301
Total	6,087,515			11,702			162,664		6,261,881
TOTAL ASSETS	49,557,664			(1,988,713		)	4,154,961		51,723,912
Totals may not foot due to rounding.



FINANCIAL RESULTS

2019 CONSOLIDATING BALANCE SHEET (unaudited)
										ENTERGY
In thousands, as of December 31, 2019	UTILITY			PARENT & OTHER			EWC			CONSOLIDATED
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Currently maturing long-term debt		$345,012			$450,000			$—			$795,012
Notes payable and commercial paper:
Other	—			1,946,727			—			1,946,727
Accounts payable:
Associated companies	34,378			(48,342		)	13,964			—
Other	1,303,705			60			196,096			1,499,861
Customer deposits	409,171			—			—			409,171
Taxes accrued	261,125			(957		)	(26,713		)	233,455
Interest accrued	167,332			26,649			148			194,129
Deferred fuel costs	197,687			—			—			197,687
Pension and other postretirement liabilities	49,348			—			16,836			66,184
Current portion of unprotected excess accumulated deferred
income taxes	76,457			—			—			76,457
Other	180,327			1,837			19,616			201,780
Total	3,024,542			2,375,974			219,947			5,620,463

NON-CURRENT LIABILITIES:
Accumulated deferred income taxes and taxes accrued	5,899,201			(374,582		)	(1,123,429		)	4,401,190
Accumulated deferred investment tax credits	207,113			—			—			207,113
Regulatory liability for income taxes - net	1,633,159			—			—			1,633,159
Other regulatory liabilities	1,961,005			—			—			1,961,005
Decommissioning and retirement cost liabilities	3,692,574			—			2,466,638			6,159,212
Accumulated provisions	533,706			—			322			534,028
Pension and other postretirement liabilities	2,141,381			—			656,884			2,798,265
Long-term debt	15,107,596			1,832,047			139,000			17,078,643
Other	1,243,775			(446,069		)	55,043			852,749
Total	32,419,510			1,011,396			2,194,458			35,625,364

Subsidiaries' preferred stock without sinking fund	195,161			—			24,249			219,410

EQUITY:
Common stock, $.01 par value, authorized 500,000,000 shares;	1,973,748			(2,172,151		)	201,103			2,700
issued 270,035,180 shares in 2019
Paid-in capital	4,117,727			882,286			1,564,423			6,564,436
Retained earnings	8,014,497			947,932			295,180			9,257,609
Accumulated other comprehensive income (loss)	(102,521		)	—			(344,399		)	(446,920		)
Less – treasury stock, at cost (70,886,400 shares in 2019)	120,000			5,034,150			—			5,154,150
Total common shareholders' equity	13,883,451			(5,376,083		)	1,716,307			10,223,675
Subsidiaries' preferred stock without sinking fund	35,000			—			—			35,000
Total	13,918,451			(5,376,083		)	1,716,307			10,258,675
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$49,557,664			($1,988,713	)		$4,154,961			$51,723,912
Totals may not foot due to rounding.



FINANCIAL RESULTS

CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited)

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



FINANCIAL RESULTS

CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited)

$ thousands, for the years ended December 31,	2019		2018	2017
SUPPLEMENTAL DISCLOSURE OF
CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest – net of amount capitalized	778,209		734,845	678,371
Income taxes	(40,435	)	19,825	(13,375	)



CASH FLOW INFORMATION BY BUSINESS

			PARENT &				ENTERGY
For the years ended December 31, 2019, 2018, and 2017.	UTILITY		OTHER		EWC		CONSOLIDATED
($ thousands)
2019
Net cash flow provided by (used in) operating activities	2,973,872		(237,649	)	80,404		2,816,627
Net cash flow provided by (used in) investing activities	(4,425,828	)	(159	)	(84,255	)	(4,510,242	)
Net cash flow provided by (used in) financing activities	1,393,628		244,969		(235	)	1,638,362

2018
Net cash flow provided by (used in) operating activities	2,693,429		(234,491	)	(73,690	)	2,385,247
Net cash flow provided by (used in) investing activities	(3,893,022	)	(98	)	(212,868	)	(4,105,987	)
Net cash flow provided by (used in) financing activities	915,116		237,843		267,483		1,420,442

2017
Net cash flow provided by (used in) operating activities	2,938,587		(452,430	)	137,343		2,623,500
Net cash flow provided by (used in) investing activities	(3,646,943	)	(438	)	(193,668	)	(3,841,049	)
Net cash flow provided by (used in) financing activities	505,877		449,109		(144,008	)	810,978

Totals may not foot due to rounding.



FINANCIAL RESULTS

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited)

			Common Shareholders’ Equity
($ thousands)	Subsidiaries’ Preferred Stock		Common Stock	Treasury Stock		Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total
Balance at December 31, 2016	—		2,548	(5,498,584	)	5,417,245		8,195,571		(34,971	)	8,081,809

Consolidated net income (loss) (a)	13,741		—	—		—		411,612		—		425,353
Other comprehensive loss	—		—	—		—		—		11,440		11,440
Common stock issuances related to stock plans	—		—	100,947		16,188		—		—		117,135
Common stock dividends declared	—		—	—		—		(628,885	)	—		(628,885	)
Subsidiaries' capital stock redemptions	—		—	—		—		(596	)	—		(596	)
Preferred dividend requirements of subsidiaries (a)	(13,741	)	—	—		—		—		—		(13,741	)

Balance at December 31, 2017	—		2,548	(5,397,637	)	5,433,433		7,977,702		(23,531	)	7,992,515
Implementation of accounting standards	—		—	—		—		576,257		(632,617	)	(56,360	)

Balance at January 1, 2018	—		2,548	(5,397,637	)	5,433,433		8,553,959		(656,148	)	7,936,155
Consolidated net income (loss) (a)	13,894		—	—		—		848,661		—		862,555
Other comprehensive loss	—		—	—		—		—		83,470		83,470
Settlement of equity forwards through common stock
issuance	—		68	—		499,932		—		—		500,000
Common stock issuance costs	—		—	—		(728	)	—		—		(728	)
Common stock issuances related to stock plans	—		—	123,918		18,794		—		—		142,712
Common stock dividends declared	—		—	—		—		(647,704	)	—		(647,704	)
Subsidiaries' capital stock redemptions	—		—	—		—		(1,723	)	—		(1,723	)
Preferred dividend requirements of subsidiaries (a)	(13,894	)	—	—		—		—		—		(13,894	)
Reclassification pursuant to ASU 2018-02	—		—	—		—		(32,043	)	15,505		(16,538	)

Balance at December 31, 2018	—		2,616	(5,273,719	)	5,951,431		8,721,150		(557,173	)	8,844,305
Implementation of accounting standards	—		—	—		—		6,806		(6,806	)	—

Balance at January 1, 2019	—		2,616	(5,273,719	)	5,951,431		8,727,956		(563,979	)	8,844,305
Consolidated net income (loss) (a)	17,018		—	—		—		1,241,226		—		1,258,244
Other comprehensive income	—		—	—		—		—		117,059		117,059
Settlement of equity forwards through common stock
issuance	—		84	—		607,566		—		—		607,650
Common stock issuance costs	—		—	—		(7	)	—		—		(7	)
Common stock issuances related to stock plans	—		—	119,569		5,446		—		—		125,015
Common stock dividends declared	—		—	—		—		(711,573	)	—		(711,573	)
Subsidiary's preferred stock issuance	35,000		—	—		—		—		—		35,000
Preferred dividend requirements of subsidiaries (a)	(17,018	)	—	—		—		—		—		(17,018	)

Balance at December 31, 2019	35,000		2,700	(5,154,150	)	6,564,436		9,257,609		(446,920	)	10,258,675

(a) Consolidated net income and preferred dividend requirements of subsidiaries include $16.5 million for 2019, $13.9 million for 2018, and $13.7 million for 2017 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity.



FINANCIAL RESULTS

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited)

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



CONSOLIDATED CAPITAL EXPENDITURES

HISTORICAL CAPITAL EXPENDITURES
($ millions)	2019	2018	2017
Utility
Generation	1,781	1,599	1,325
Transmission	1,030	895	887
Distribution	1,114	862	833
Other	504	434	400
Entergy Wholesale Commodities	74	178	179
Total Historical Capital Expenditures	4,503	3,968	3,624



ENTERGY CORPORATION SECURITIES DETAIL

ENTERGY CORPORATION LONG-TERM DEBT						CURRENT OR			AS OF
				MATURITY	FIRST CALL	FIRST CALL	DECEMBER 31,
CUSIP		RATE		DATE	DATE	PRICE	2019		2018

	$3.5B Bank Credit Facility	3.6	%	09/24 (b)			$	440	$	220
	Commercial Paper (a)	2.5	%				1,947		1,942
29364GAF0	5.125% Notes	5.13	%	09/20	Now	MW (T+.40%)	450		450
29364GAH6	4.00% Notes	4	%	07/22	Now	MW (T+.30%)	650		650
29364GAJ2	2.95% Notes	2.95	%	09/26	Now	MW (T+.25%)	750		750
	Total						$	4,237	$	4,012
(a) Entergy Corporation has a commercial paper program with a program limit of up to $2.0 billion.
(b) The maturity date was extended in September 2019.



								CALL PRICE
						AS OF		PER SHARE
PREFERRED MEMBER INTERESTS				DECEMBER 31,				AS OF DECEMBER 31,
CUSIP	DESCRIPTION	RATE		2019		2018		2019

	Held by Entergy Louisiana:
None	Class A preferred non-voting membership interest units of Entergy Holdings Co. LLC	10.00	%	$	684	$	684	—
	(6,843,780 units in 2019 and 2018) (a)
None	Class B preferred non-voting membership interest units of Entergy Holdings Co. LLC	9.00	%	413		413		—
	(4,126,940 units in 2019 and 2018) (a)
None	Class C preferred non-voting membership interest units of Entergy Holdings Co. LLC	7.50	%	294		294		—
	(2,935,153 units in 2019 and 2018) (a)
	Held by Entergy Corporation:
None	Class D preferred non-voting membership interest units of Entergy Holdings Co. LLC	5.00	%	734		734		—
	(7,340,750 units in 2019 and 2018) (a)
	Held by Entergy Utility Holding Company, LLC:
None	Class D preferred non-voting membership interest units of Entergy Holdings Co. LLC	5.00	%	256		256		—
	(2,559,250 units in 2019 and 2018) (a)
	Preferred member interests			$	2,381	$	2,381	—
OTHER NON-CURRENT LIABILITIES:
None	Class A preferred non-voting membership interest units of Entergy Holdings Co. LLC	10.00	%	—		$	50	—
	(500,000 units in 2019 and 2018) (a)(b)
	Other non-current liabilities			—		$	50	—
	Total			$	2,381	$	2,431	—
(a) Distributions are payable quarterly and have a liquidation price of $100 per unit. The preferred membership interests are callable at the option of Entergy Holdings Company LLC after ten years under the terms of the LLC agreement.
(b) On February 16, 2012, Entergy Gulf States Louisiana, L.L.C. sold 500,000 units of Class A preferred, non-voting, membership interest units of Entergy Holdings Company LLC. to a non-affiliated third party. This preferred membership interest is reflected in the Parent & Other disclosure segment in ‘Other Non-Current Liabilities’ on the balance sheet.
Totals may not foot due to rounding.



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UTILITY SELECTED DATA

UTILITY QUARTERLY FINANCIAL METRICS
	2019					2018					FY %
	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q	FY	CHANGE
GAAP MEASURES
As-reported earnings ($ millions)	231	331	578	271	1,411	215	376	505	388	1,483	(4.8	)
ROIC – as-reported (%)(a)	7.2	7	7.1	6.6	6.6	5.1	5.5	5.8	7.5	7.5	(11.8	)
ROE – as-reported (%)(a)	12.6	11.8	11.9	10.7	10.7	7.5	8.4	9	12.6	12.6	(15.0	)
Debt to capital Ratio (%)	53.9	54.0	53.0	52.4	52.4	55.2	53.2	52.8	52.3	52.3	0.1
NON-GAAP MEASURES
Adjusted earnings ($ millions)	231	331	578	229	1,369	215	333	505	209	1,262	8.5
ROIC – adjusted (%)(a)	6.4	6.4	6.5	6.5	6.5	5.8	6.1	6.4	6.6	6.6	(1.6	)
ROE – adjusted (%)(a)	10.7	10.4	10.5	10.4	10.4	9.2	9.6	10.2	10.7	10.7	(2.8	)
Debt to capital ratio, excluding securitization debt (%)	53.2	53.4	52.4	51.9	51.9	54.3	52.3	51.9	51.6	51.6	0.7
Net debt to net capital ratio, excluding securitization debt (%)	52.0	52.8	51.3	51.6	51.6	52.5	51.1	50.4	51.1	51.1	1.0
(a) Rolling twelve months. Totals may not foot due to rounding.



UTILITY ANNUAL FINANCIAL METRICS
	2019	2018	2017
GAAP MEASURES
As-reported earnings ($ millions)	1,411	1,483	762
ROIC – as-reported (%)(a)	6.6	7.5	4.7
ROE – as-reported (%)(a)	10.7	12.6	7.1
Debt to capital ratio (%)	52.4	52.3	53.9
NON-GAAP MEASURES
Adjusted earnings ($ millions)	1,369	1,262	942
ROIC – adjusted (%)(a)	6.5	6.6	5.5
ROE – adjusted (%)(a)	10.4	10.7	8.8
Debt to capital ratio, excluding securitization debt (%)	51.9	51.6	52.8
Net debt to net capital ratio, excluding securitization debt (%)	51.6	51.1	51.7
(a) Rolling twelve months. Totals may not foot due to rounding.



UTILITY SECURITIES RATINGS (OUTLOOK)
	MORTGAGE BONDS
As of 5/26/20	MOODY’S	S&P
Entergy Arkansas, LLC	A2 (stable)	A (stable)
Entergy Louisiana, LLC	A2 (stable)	A (stable)
Entergy Mississippi, LLC	A2 (stable)	A (stable)
Entergy New Orleans, LLC	Baa2 (stable)	A (stable)
Entergy Texas, Inc.	Baa1 (positive)	A (stable)
System Energy Resources, Inc.	Baa1 (stable)	A (stable)



UTILITY HISTORICAL CAPITAL EXPENDITURES(a)
($ millions)	2019	2018	2017
Entergy Arkansas	642	660	736
Entergy Louisiana	1,673	1,832	1,673
Entergy Mississippi	738	387	435
Entergy New Orleans	230	202	115
Entergy Texas	898	452	348
System Energy Resources	167	195	92
Other(b)	82	62	46
Total	4,430	3,790	3,445
(a) Historical capital expenditures include storm capital spending.
(b) Corresponds to Entergy Services, LLC, Entergy Operations, Inc., and Varibus, L.L.C.



UTILITY FINANCIAL RESULTS

2019 UTILITY CONSOLIDATING INCOME STATEMENT (unaudited)

																			OTHER/
In thousands, for the year ending December 31, 2019.	E-AR			E-LA			E-MS			E-NO			E-TX			SERI			ELIMINATIONS(a)			UTILITY
OPERATING REVENUES:
Electric		$2,259,594			$4,223,027			$1,323,043			$594,417			$1,488,955			$573,410			($1,032,415	)		$9,430,031
Natural gas	—			62,148			—			91,806			—			—			—			153,954
Total	2,259,594			4,285,175			1,323,043			686,223			1,488,955			573,410			(1,032,415		)	9,583,985
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale	458,907			845,108			277,425			105,217			162,544			82,438			(161		)	1,931,478
Purchased power	204,640			810,462			284,492			258,306			602,563			—			(1,026,269		)	1,134,194
Nuclear refueling outage expenses	68,769			54,170			—			—			—			33,376			—			156,315
Other operation and maintenance	720,217			994,637			266,175			121,057			258,924			206,444			(4,886		)	2,562,568
Decommissioning	68,030			59,346			—			—			—			35,729			1,162			164,267
Taxes other than income taxes	115,869			194,222			105,318			55,270			76,366			29,018			6,748			582,811
Depreciation and amortization	307,351			535,791			170,886			56,072			153,286			106,630			(1,116		)	1,328,900
Other regulatory charges (credits) – net	(11,186		)	(105,203		)	14,993			21,616			88,770			(35,210		)	—			(26,220		)
Total	1,932,597			3,388,533			1,119,289			617,538			1,342,453			458,425			(1,024,522		)	7,834,313
OPERATING INCOME	326,997			896,642			203,754			68,685			146,502			114,985			(7,893		)	1,749,672
OTHER INCOME (DEDUCTIONS):
Allowance for equity funds used during construction	15,499			74,023			8,356			9,941			28,445			8,709			1			144,974
Interest and investment income	26,020			231,985			1,412			428			3,072			29,488			(2,835		)	289,570
Miscellaneous – net	(18,566		)	(115,427		)	(4,478		)	(6,038		)	546			(5,516		)	(65		)	(149,544		)
Total	22,953			190,581			5,290			4,331			32,063			32,681			(2,899		)	285,000
INTEREST EXPENSE:
Interest expense	140,087			309,493			61,785			24,463			86,333			35,328			(3,137		)	654,352
Allowance for borrowed funds used during construction	(6,332		)	(35,430		)	(3,532		)	(4,262		)	(13,269		)	(2,131		)	(1		)	(64,957		)
Total	133,755			274,063			58,253			20,201			73,064			33,197			(3,138		)	589,395
INCOME (LOSS) BEFORE INCOME TAXES	216,195			813,160			150,791			52,815			105,501			114,469			(7,654		)	1,445,277
Income taxes	(46,769		)	121,623			30,866			186			(53,896		)	15,349			(47,725		)	19,634
NET INCOME	262,964			691,537			119,925			52,629			159,397			99,120			40,071			1,425,643
Preferred dividend requirements and other	—			—			—			—			580			—			14,250			14,830
EARNINGS APPLICABLE TO
COMMON STOCK / EQUITY		$262,964			$691,537			$119,925			$52,629			$158,817			$99,120			$25,821			$1,410,813
Totals may not foot due to rounding.
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions.



UTILITY FINANCIAL RESULTS

2019 UTILITY CONSOLIDATING BALANCE SHEET (unaudited)


																		OTHER/
In thousands, as of December 31, 2019.	E-AR			E-LA			E-MS			E-NO			E-TX			SERI		ELIMINATIONS(a)			UTILITY
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash		$3,519			$488			$11			$26			$25			$93		$23,848			$28,010
Temporary cash investments	—			1,518			51,590			5,991			12,904			68,441		33,169			173,613
Total cash and cash equivalents	3,519			2,006			51,601			6,017			12,929			68,534		57,017			201,623
Securitization recovery trust account	4,036			—			—			1,989			37,720			—		(43,745		)
Accounts receivable:
Customer	117,679			194,869			92,050			48,265			59,365			—		—			512,228
Allowance for doubtful accounts	(1,169		)	(1,902		)	(636		)	(3,226		)	(471		)	—		—			(7,404		)
Associated companies	29,178			77,212			49,257			6,280			24,001			121,972		(287,419		)	20,481
Other	117,653			42,179			14,986			7,378			17,050			7,547		3,659			210,452
Accrued unbilled revenues	108,489			169,201			47,426			25,453			50,048			—		—			400,617
Total accounts receivable	371,830			481,559			203,083			84,150			149,993			129,519		(283,760		)	1,136,374
Fuel inventory – at average cost	33,745			41,613			15,139			1,920			47,593			—		—			140,010
Materials and supplies – at average cost	211,320			354,020			57,972			13,522			46,056			108,766		536			792,192
Deferred nuclear refueling outage costs	48,875			56,743			—			—			—			14,493		(1		)	120,110
Prepaid taxes	—			7,959			—			—			—			—		(7,959		)	—
Prepayments and other	14,096			37,837			7,149			4,846			21,012			6,045		80,889			171,874
Total	687,421			981,737			334,944			112,444			315,303			327,357		(197,023		)	2,562,183
OTHER PROPERTY AND INVESTMENTS:
Investment in affiliates – at equity	—			1,390,587			—			—			396			—		78,008			1,468,991
Decommissioning trust funds	1,101,283			1,563,812			—			—			—			1,054,098		—			3,719,193
Non-utility property – at cost (less accumulated depreciation)	—			312,896			4,560			1,016			376			—		656			319,504
Storm reserve escrow account	—			295,875			—			82,605			—			—		(378,480		)	—
Escrow accounts	—			—			80,201			—			—			—		(80,201		)	—
Other	345			13,476			—			—			20,077			—		458,347			492,245
Total	1,101,628			3,576,646			84,761			83,621			20,849			1,054,098		78,330			5,999,933
PROPERTY, PLANT AND EQUIPMENT
Electric	12,293,483			22,620,365			5,672,589			1,467,215			5,199,027			5,070,859		975,257			53,298,795
Natural gas	—			235,678			—			311,432			—			—		—			547,110
Construction work in progress	197,775			1,383,603			88,373			201,829			760,354			164,996		16,486			2,813,416
Nuclear fuel	195,547			267,779			—			—			—			149,574		—			612,900
Total property, plant and equipment	12,686,805			24,507,425			5,760,962			1,980,476			5,959,381			5,385,429		991,743			57,272,221
Less – accumulated depreciation and amortization	5,019,826			9,118,524			1,894,000			715,406			1,770,852			3,285,487		560,093			22,364,188
Property, plant and equipment – net	7,666,979			15,388,901			3,866,962			1,265,070			4,188,529			2,099,942		431,650			34,908,033
DEFERRED DEBITS AND OTHER ASSETS:
Regulatory assets:
Other regulatory assets (includes securitization property
of $239,219 as of December 31, 2019)	1,666,850			1,315,211			377,972			259,363			512,648			490,083		669,928			5,292,055
Deferred fuel costs	67,690			168,122			—			4,080			—			—		—			239,892
Goodwill	—			—			—			—			—			—		374,099			374,099
Accumulated deferred income taxes	—			—			—			—			—			8,023		51,402			59,425
Other	15,065			33,491			10,105			10,720			33,393			3,192		16,078			122,044
Total	1,749,605			1,516,824			388,077			274,163			546,041			501,298		1,111,507			6,087,515
TOTAL ASSETS		$11,205,633			$21,464,108			$4,674,744			$1,735,298			$5,070,722			$3,982,695		$1,424,464			$49,557,664
Totals may not foot due to rounding.
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions.



UTILITY FINANCIAL RESULTS

2019 UTILITY CONSOLIDATING BALANCE SHEET (unaudited)


													OTHER/
In thousands, as of December 31, 2019.	E-AR		E-LA		E-MS		E-NO		E-TX		SERI		ELIMINATIONS(a)			UTILITY
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Currently maturing long-term debt		$—		$320,002		$—		$25,000		$—		$10		$—			$345,012
Payable due to associated companies	—		—		—		1,838		—		—		(1,838		)	—
Accounts payable:
Associated companies	111,785		187,615		48,090		43,222		58,055		14,619		(429,008		)	34,378
Other	202,201		357,206		94,729		43,963		188,460		64,144		353,002			1,303,705
Customer deposits	101,411		153,097		85,938		28,493		40,232		—		—			409,171
Taxes accrued	81,831		—		90,661		4,302		49,708		13,832		20,791			261,125
Interest accrued	22,788		87,744		18,900		6,916		18,992		11,993		(1		)	167,332
Deferred fuel costs	53,721		55,645		70,402		4,918		13,001		—		—			197,687
Current portion of unprotected excess accumulated deferred income taxes	9,296		31,138		—		9,470		26,552		—		1			76,457
Pension and other postretirement liabilities	—		—		—		—		—		—		49,348			49,348
Other	38,760		64,668		32,667		15,827		10,521		3,381		14,503			180,327
Total	621,793		1,257,115		441,387		183,949		405,521		107,979		6,798			3,024,542
NON-CURRENT LIABILITIES:
Accumulated deferred income taxes and taxes accrued	1,183,126		2,464,513		594,832		354,536		585,413		821,963		(105,182		)	5,899,201
Accumulated deferred investment tax credits	31,701		112,128		9,602		2,131		10,559		40,181		811			207,113
Regulatory liability for income taxes - net	478,174		500,083		236,988		49,090		225,980		142,845		(1		)	1,633,159
Other regulatory liabilities	559,555		794,140		21,512		—		42,085		533,415		10,298			1,961,005
Decommissioning and asset retirement cost liabilities	1,242,616		1,497,349		9,727		3,522		7,631		931,729		—			3,692,574
Accumulated provisions	63,880		320,419		50,021		88,542		8,108		—		2,736			533,706
Pension and other postretirement liabilities	319,075		677,619		99,406		—		—		109,816		935,465			2,141,381
Long-term debt (includes securitization bonds
of $297,982 as of December 31, 2019)	3,517,208		6,983,667		1,614,129		521,539		1,922,956		548,097		—			15,107,596
Long-term payable due to associated companies	—		—		—		12,529		—		—		(12,529		)	—
Other	62,568		459,957		54,989		21,881		63,062		34,602		546,716			1,243,775
Total	7,457,903		13,809,875		2,691,206		1,053,770		2,865,794		3,162,648		1,378,314			32,419,510

Preferred stock without sinking fund	—		—		—		—		—		—		195,161			195,161

EQUITY:
Common stock or member's equity	3,125,937		6,392,556		1,542,151		497,579		49,452		601,850		(10,235,777		)	1,973,748
Paid-in capital	—		—		—		—		780,182		—		3,337,545			4,117,727
Retained earnings	—		—		—		—		934,773		110,218		6,969,506			8,014,497
Accumulated other comprehensive (loss)	—		4,562		—		—		—		—		(107,083		)	(102,521		)
Less – treasury stock, at cost	—		—		—		—		—		—		120,000			120,000
Total common shareholders' equity	3,125,937		6,397,118		1,542,151		497,579		1,764,407		712,068		(155,809		)	13,883,451
Preferred stock without sinking fund	—		—		—		—		35,000		—		—			35,000
Total	3,125,937		6,397,118		1,542,151		497,579		1,799,407		712,068		(155,809		)	13,918,451

TOTAL LIABILITIES AND EQUITY		$11,205,633		$21,464,108		$4,674,744		$1,735,298		$5,070,722		$3,982,695		$1,424,464			$49,557,664
Totals may not foot due to rounding.
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions.



UTILITY FINANCIAL RESULTS

UTILITY SELECTED ANNUAL FINANCIAL METRICS

	2019	2018		2017
ENTERGY ARKANSAS, LLC
As-Reported Earnings ($ millions)	263	252		138
Less Adjustments ($ millions)	—	(2	)	3
Adjusted Earnings ($ millions)	263	254		135
GAAP MEASURES
ROIC – As-Reported (%)	5.6	5.8		4.0
Return on Average Member's Equity – As-Reported (%)	8.6	9.4		6.0
Debt to Capital (%)	53.0	52.0		55.5
Total Debt ($ millions)	3,528	3,226		3,002
Total Preferred ($ millions)	—	—		31
Total Equity ($ millions)	3,126	2,983		2,377
NON-GAAP MEASURES
ROIC – Adjusted (%)	5.6	5.9		4.0
Return on Average Member's Equity – Adjusted (%)	8.6	9.5		5.8
Total Debt, excluding securitization debt ($ millions)	3,522	3,205		2,968
Debt to Capital, excluding securitization debt (%)	53.0	51.8		55.2
Net Debt to Net Capital, excluding securitization debt (%)	53.0	51.8		55.2
Totals may not foot due to rounding.

ENTERGY LOUISIANA, LLC
As-Reported Net Income ($ millions)	692	676		316
Less Adjustments ($ millions)	—	50		(183	)
Adjusted Net Income ($ millions)	692	626		499
GAAP MEASURES
ROIC – As-Reported (%)	6.8	7.1		4.2
Return on Average Common Equity – As-Reported (%)	11.3	12.1		6.1
Debt to Capital (%)	53.4	53.6		53.8
Total Debt ($ millions)	7,321	6,806		6,188
Total Preferred ($ millions)	—	—		—
Total Equity ($ millions)	6,397	5,903		5,309
NON-GAAP MEASURES
ROIC – Adjusted (%)	6.8	6.7		5.9
Return on Average Common Equity – Adjusted (%)	11.3	11.2		9.6
Total Debt, excluding securitization debt ($ millions)	7,288	6,750		6,110
Debt to Capital, excluding securitization debt (%)	53.3	53.3		53.5
Net Debt to Net Capital, excluding securitization debt (%)	53.2	53.2		53.4
Totals may not foot due to rounding.



UTILITY FINANCIAL RESULTS

UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED)

	2019	2018		2017
ENTERGY MISSISSIPPI, LLC
As-Reported Earnings ($ millions)	120	125		109
Less Adjustments ($ millions)	—	(1	)	(3	)
Adjusted Earnings ($ millions)	120	126		113
GAAP MEASURES
ROIC – As-Reported (%)	5.7	6.5		5.9
Return on Average Member's Equity – As-Reported (%)	8.5	10.1		9.6
Debt to Capital (%)	51.2	50.6		51.5
Total Debt ($ millions)	1,621	1,326		1,270
Total Preferred ($ millions)	—	—		20
Total Equity ($ millions)	1,542	1,292		1,178
NON-GAAP MEASURES
ROIC – Adjusted (%)	5.7	6.5		6.1
Return on Average Member's Equity – Adjusted (%)	8.5	10.2		9.9
Net Debt to Net Capital (%)	50.4	49.9		51.3
Totals may not foot due to rounding.

ENTERGY NEW ORLEANS, LLC
As-Reported Earnings ($ millions)	53	53		44
Less Adjustments ($ millions)	—	—		(6	)
Adjusted Earnings ($ millions)	53	53		50
GAAP MEASURES
ROIC – As-Reported (%)	6.8	7.6		6.5
Return on Average Member's Equity – As-Reported (%)	11.3	12.4		10.4
Debt to Capital (%)	53.1	52.1		51.3
Total Debt ($ millions)	564	484		437
Total Preferred ($ millions)	—	—		—
Total Equity ($ millions)	498	445		416
NON-GAAP MEASURES
ROIC – Adjusted (%)	7.2	8.2		8.0
Return on Average Member's Equity – Adjusted (%)	11.3	12.4		11.8
Total Debt, excluding securitization debt ($ millions)	511	420		362
Debt to Capital, excluding securitization debt (%)	50.7	48.6		46.6
Net debt to net capital, excluding securitization debt	50.4	47.4		44.2
Totals may not foot due to rounding.

ENTERGY TEXAS, INC.
As-Reported Net Income ($ millions)	159	162		76
Less Adjustments ($ millions)	—	37		(3	)
Adjusted Net Income ($ millions)	159	125		79
GAAP MEASURES
ROIC – As-Reported (%)	6.5	7.8		4.7
ROE – As-Reported (%)	10.0	12.1		6.5
Debt to Capital (%)	51.7	51.6		55.7
Total Debt ($ millions)	1,928	1,514		1,587
Total Preferred ($ millions)	35	—		—
Total Common Equity ($ millions)	1,764	1,422		1,260
NON-GAAP MEASURES
ROIC – Adjusted (%)	7.0	7.4		5.6
ROE – Adjusted (%)	10.0	9.3		6.8
Total Debt, excluding securitization debt ($ millions)	1,723	1,230		1,229
Debt to Capital, excluding securitization debt (%)	48.9	46.4		49.4
Net Debt to Net Capital, excluding securitization debt (%)	48.7	46.4		46.9
Totals may not foot due to rounding.



UTILITY FINANCIAL RESULTS

UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED)

	2019	2018	2017
SYSTEM ENERGY RESOURCES, INC.
As-Reported Net Income ($ millions)	99	94	79
Less Adjustments ($ millions)	—	—	—
Adjusted Earnings ($ millions)	99	94	79
GAAP MEASURES
ROIC – As-Reported (%)	9.4	9.2	7.6
ROE – As-Reported (%)	13.7	13.0	10.8
Debt to Capital (%)	43.5	46.1	44.5
Total Debt ($ millions)	548	631	569
Total Preferred ($ millions)	—	—	—
Total Equity ($ millions)	712	737	711
NON-GAAP MEASURES
ROIC – Adjusted (%)	9.4	9.2	7.6
ROE – Adjusted (%)	13.7	13.0	10.8
Net Debt to Net Capital (%)	40.2	42.1	28.5
Totals may not foot due to rounding.



UTILITY SECURITIES DETAIL

UTILITY LONG-TERM DEBT AND PREFERRED STOCK

ENTERGY ARKANSAS, LLC
						FIRST		CURRENT OR
BONDS:					MATURITY	CALL	OR FIRST			AS OF DECEMBER 31,
CUSIP		TYPE*	RATE		DATE	DATE	CALL PRICE			2019			2018
($ millions)
29364DAQ3	3.75% Series	M	3.75	%	2/21	Now	MW (T + .20%)			$	350		$	350
29364DAR1	3.05% Series	M	3.05	%	6/23	Now	MW (T + .20%)			250			250
29364DAS9	3.7% Series	M	3.70	%	6/24	Now	MW (T + .15%)			375			375
29364DAU4	3.5% Series	M	3.50	%	4/26	Now	MW (T + .20%)			600			600
29364DAV2	4.00% Series	M	4.00	%	6/28	Now	MW (T + .20%)			250			250
29364DAT7	4.95% Series	M	4.95	%	12/44	Now	MW (T + .30%)			250			250
29366MAA6	4.20% Series	M	4.20	%	4/49	Now	MW (T + .20%)			350			—
29364D761	4.90% Series	M	4.90	%	12/52	Now	100		%	200			200
29364D753	4.75% Series	M	4.75	%	6/63	Now	100		%	125			125
29364D100	4.875% Series	M	4.88	%	9/66	9/1/21	100		%	410			410
453424BT9	2.375% Series – Independence County	G(a,d)	2.38	%	1/21	Non-Call Life				45			45
	Total bonds									3,205			2,855
OTHER LONG-TERM DEBT:
76824*AV6	3.65% Series L – Variable Interest Entity Note Payable		3.65	%	7/21	Now	MW (T + .50%)			90			90
76824*AW4	3.17% Series M – Variable Interest Entity Note Payable		3.17	%	12/23	Now	MW (T + .50%)			40			40
	Credit Facility - Variable Interest Entity		3.33	%	9/21					15			60
29365YAA1	2.30% Series Senior Secured – Securitization Bond		2.30	%	8/21	Non-Call Life				7			22
	Long-Term United States Department of Energy Obligation(b)									191			187
	Unamortized Premium and Discount – Net									2			4
	Unamortized Debt Issuance Costs									(35		)	(34		)
	Other									2			2
TOTAL LONG-TERM DEBT										3,517			3,226
Less Amount Due Within One Year										—			—
Long-Term Debt Excluding Amount Due Within One Year										3,517			3,226
Fair Value of Long-Term Debt(c)										$	3,557		$	3,003
Weighted-average annualized coupon rate (e)										4.0		%	4.0		%
*M = Mortgage Bond; G = Governmental Bond
(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.
(c) The fair value excludes long-term DOE obligations at Entergy Arkansas and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(d) The bonds are secured by a series of collateral first mortgage bonds.
(e) Rate calculation only includes Bonds, VIE notes, and Securitization Bonds
Totals may not foot due to rounding.




ENTERGY UTILITY HOLDING COMPANY, LLC
			SHARES
			AUTHORIZED AND OUTSTANDING
PREFERRED STOCK:			AS OF DECEMBER 31,		AS OF DECEMBER 31,
CUSIP		RATE	2019	2018	2019		2018
($ millions)
	Without sinking fund:
	Cumulative, $100 par value:
	7.5% Series(a)	7.50%	110,000	110,000		$107		$107
	6.25% Series(a)	6.25%	15,000	15,000	14		14
	6.75% Series(a)	6.75%	75,000	75,000	73		73
	Total without sinking fund		200,000	200,000		$195		$195
(a) Dollar amount outstanding is net of preferred stock issuance costs.
Totals may not foot due to rounding.

UTILITY LONG-TERM DEBT AND PREFERRED STOCK

ENTERGY LOUISIANA, LLC

CURRENT

BONDS:

MATURITY

FIRST CALL

OR FIRST

AS OF DECEMBER 31,

CUSIP

TYPE*

RATE

DATE

CALL PRICE

2019

2018

($ millions)

29365PAQ5

3.95% Series

3.95%

10/20

Now

MW (T + .25%)

250

29364WAN8

4.8% Series

4.80%

5/21

Now

MW (T + .25%)

200

29364WAR9

3.30% Series

3.30%

12/22

Now

MW (T + .25%)

200

29364WAS7

4.05% Series

4.05%

9/23

Now

MW (T + .20%)

325

29365PAP7

5.59% Series

5.59%

10/24

Now

MW (T + .40%)

300

29364WAK4

5.40% Series

5.40%

11/24

Now

MW (T + .35%)

400

29365PAR3

3.78% Series

3.78%

4/25

Now

MW (T + .20%)

110

29364WAU2

3.78% Series

3.78%

4/25

Now

MW (T + .20%)

190

29364WAM0

4.44% Series

4.44%

1/26

Now

MW (T + .30%)

250

29364WAY4

2.4% Series

2.40%

10/26

Now

MW (T + .15%)

400

29364WAZ1

3.12% Series

3.12%

9/27

Now

MW (T + .15%)

450

29364WAW8

3.25% Series

3.25%

4/28

Now

MW (T + .25%)

425

29364WAX6

3.05% Series

3.05%

6/31

Now

MW (T + .25%)

325

29364WBA5

4.0% Series

4.00%

3/33

Now

MW (T + .20%)

750

29364WAT5

5.0% Series

5.00%

7/44

Now

MW (T + .25%)

170

29364WAV0

4.95% Series

4.95%

1/45

Now

MW (T + .30%)

450

29364WBB3

4.2% Series

4.20%

9/48

Now

MW (T + .20%)

600

29364WBC1

4.2% Series

4.20

4/50

Now

MW (T + .20%)

525

—

29364W504

5.25% Series

5.25%

7/52

Now

100%

200

29364W603

4.7% Series

4.70%

6/63

Now

100%

100

29364W108

4.875% Series

4.88%

9/66

9/1/21

100%

270

5463984Y1

3.375% Series – Louisiana Public Facilities Authority

G(a,c)

3.38%

9/28

3/1/21

100%

5463984Z8

3.5% Series – Louisiana Public Facilities Authority

G(a,c)

3.50%

6/30

6/1/21

100%

115

Total bonds

7,089

6,564

OTHER LONG-TERM DEBT:

76083@AT4

3.38% Series R – Variable Interest Entity Note Payable

3.38%

8/20

Now

MW (T + .50%)

76822*AM8

3.92% Series H – Variable Interest Entity Note Payable

3.92%

2/21

Now

MW (T + .50%)

76822*AN6

3.22% Series I – Variable Interest Entity Note Payable

3.22%

12/23

Now

MW (T + .50%)

Credit Facility - Variable Interest Entity - River Bend

3.44%

9/21

Credit Facility - Variable Interest Entity - Waterford

3.35%

9/21

29366AAA2

2.04% Series Senior Secured - Securitization Bond

2.04%

6/21

Unamortized Premium and Discount – Net

(17

)

(15

)

Unamortized Debt Issuance Costs

(58

)

(57

)

Other

TOTAL LONG-TERM DEBT

7,304

6,806

Less Amount Due Within One Year

320

Long-Term Debt Excluding Amount Due Within One Year

$6,984

$6,804

Fair Value of Long-Term Debt(b)

$7,961

$6,834

Weighted-average annualized coupon rate (d)

4.1%

4.1

*M = Mortgage Bond; G = Governmental Bond

(a) Consists of pollution control revenue bonds and environmental revenue bonds.

(b) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) Rate calculation only includes Bonds, VIE notes, and Securitization Bonds

Totals may not foot due to rounding.

UTILITY LONG-TERM DEBT AND PREFERRED STOCK

ENTERGY MISSISSIPPI, LLC

CURRENT

BONDS:

MATURITY

FIRST CALL

OR FIRST

AS OF DECEMBER 31,

CUSIP

TYPE*

RATE

DATE

CALL PRICE

2019

2018

($ millions)

29364NAP3

6.64% Series

6.64%

7/19

Now

MW (T + .50%)

$—

$150

29364NAR9

3.1% Series

3.10%

7/23

Now

MW (T + .25%)

250

29364NAS7

3.75% Series

3.75%

7/24

Now

MW (T + .15%)

100

29364NAU2

3.25% Series

3.25%

12/27

Now

MW (T + .15%)

150

29364NAT5

2.85% Series

2.85%

6/28

Now

MW (T + .20%)

375

29365*AA6

4.52% Series

4.52%

12/38

Now

MW (T + .50%)

29366WAA4

3.85% Series

3.85

6/49

Now

MW (T + .20%)

435

—

29364N108

4.90% Series

4.90%

7/24

10/1/21

100%

260

Total bonds

1,625

1,340

OTHER LONG-TERM DEBT:

Unamortized Premium and Discount – Net

)

Unamortized Debt Issuance Cost

(17

)

(13

)

TOTAL LONG-TERM DEBT

1,614

1,326

Less Amount Due Within One Year

—

150

Long-Term Debt Excluding Amount Due Within One Year

$1,614

$1,176

Fair Value of Long-Term Debt(a)

$1,710

$1,276

Weighted-average annualized coupon rate (B)

3.6

3.9%

*M = Mortgage Bond

(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.

(b) Rate calculation only includes Bonds

Totals may not foot due to rounding.



ENTERGY NEW ORLEANS, LLC
								CURRENT
BONDS:					MATURITY	FIRST CALL	OR FIRST		AS OF DECEMBER 31,
CUSIP		TYPE*	RATE		DATE	DATE	CALL PRICE		2018			2017
($ millions)
29364PAM5	5.10% Series	M	5.10%		12/20	Now	MW (T + .35%)			$25			$25
29364PAN3	3.9% Series	M	3.90%		7/23	Now	MW (T + .30%)		100			100
29364PAP8	4.0% Series	M	4.00%		6/26	Now	MW (T + .35%)		85			85
29365@AA4	4.51% Series	M	4.51%		9/33	Now	MW (T + .50%)		60			60
29364P509	5.0% Series	M	5.00%		12/52	Now	100%		30			30
29364P103	5.5% Series	M	5.50%		4/66	4/1/21	100%		110			110
	Total bonds								410			410
OTHER LONG-TERM DEBT:
29277VAA4	2.67% Series Senior Secured - Securitization Bond		2.67%		6/27				54			66
	Unsecured Term Loan		3.00	%	5/22				70
	Credit Facility - Variable Interest Entity		2.92	%					20			—
	Payable to Entergy Louisiana				11/35				14			16
	Unamortized Premium and Discount – Net								—			—
	Unamortized Debt Issuance Cost								(8		)	(8		)
TOTAL LONG-TERM DEBT									561			484
Less Amount Due Within One Year									27			2
Long-Term Debt Excluding Amount Due Within One Year										$534			$482
Fair Value of Long-Term Debt(a)										$524			$492
Weighted-average annualized coupon rate (B)									4.4		%	4.7		%
*M = Mortgage
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(b) Rate calculation only includes Bonds and Securitization Bonds
Totals may not foot due to rounding.



UTILITY LONG-TERM DEBT AND PREFERRED STOCK

ENTERGY TEXAS, INC.
								CURRENT
BONDS:					MATURITY	FIRST CALL	OR FIRST		AS OF DECEMBER 31,
CUSIP		TYPE*	RATE		DATE	DATE	CALL PRICE		2019			2018
($ millions)
29365TAA2	7.125% Series	M	7.13%		2/19	Now	MW (T + .50%)			$—			$500
29365TAE4	2.55% Series	M	2.55%		6/21	Now	MW (T + .20%)		125			125
29365TAC8	4.1% Series	M	4.10%		9/21	Now	MW (T + .35%)		75			75
29365TAF1	3.45% Series	M	3.45%		12/27	Now	MW (T + .20%)		150			150
29365TAG9	4.0% Series	M	4.00	%	3/29	Now	MW (T + .25%)		300			—
2936TAH7	4.5% Series	M	4.50	%	3/39	Now	MW (T + .25%)		400			—
29365TAD6	5.15% Series	M	5.15%		6/45	Now	MW (T + .35%)		250			250
29365TAJ3	3.55% Series	M	5.15	%	9/49	Now	MW (T + .20%)		300			—
29365T104	5.625% Series	M	5.63%		6/64	6/1/19	100%		135			135
	Total bonds								1,735			1,235
OTHER LONG-TERM DEBT:
29365KAB9	3.65% Series Senior Secured, Series A - Securitization Bond		3.65%		8/19				—			—
29365QAC4	5.93% Series Senior Secured, Series A - Securitization Bond		5.93%		6/22				50			81
29365KAC7	4.38% Series Senior Secured - Securitization Bond		4.38%		11/23				156			204
	Unamortized Premium and Discount – Net								(5		)	(1		)
	Unamortized Debt Issuance Costs								(18		)	(9		)
	Other								4			4
TOTAL LONG-TERM DEBT									1,923			1,514
Less Amount Due Within One Year									—			500
Long-Term Debt Excluding Amount Due Within One Year										$1,923			$1,014
Fair Value of Long-Term Debt(a)										$2,090			$1,529
Weighted-average annualized coupon rate (b)									4.2		%	4.5		%
*M = Mortgage Bond
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(b) Rate calculation only includes Bonds and Securitization Bonds
Totals may not foot due to rounding.



PREFERRED STOCK:			AS OF DECEMBER 31,				AS OF DECEMBER 31,
CUSIP		RATE	2019		2018		2019		2018
($ millions)
	Without sinking fund:
	Cumulative, $100 par value:		$	—	$	—	$	—	$	—
29365T302	5.375% Series	5.375%	$	1,400,000	$	—	$	35	$	—
	Total without sinking fund		$	1,400,000	$	—	$	35	$	—
Totals may not foot due to rounding.



SYSTEM ENERGY RESOURCES, INC.
							CURRENT
BONDS:				MATURITY	FIRST CALL	OR FIRST		AS OF DECEMBER 31,
CUSIP		TYPE*	RATE	DATE	DATE	CALL PRICE		2019			2018
($ millions)
605277AB8	5.875% Series – MBFC	G(a)	5.88%	4/22	Now	100%			$134			$134
871911AS2	4.10% Series	M	4.10%	4/23	Now	MW (T + 0.40%)		250			250
	Total bonds							384			384
OTHER LONG-TERM DEBT:
76823#AS0	3.78% Series I – Variable Interest Entity Note Payable		3.78%	10/18				—			—
76823#AT8	3.42% Series J – Variable Interest Entity Note Payable		3.42%	4/21				100			100
	Credit Facility – Variable Interest Entity		3.44%	9/21				32			114
361561AA1	Grand Gulf Lease Obligation 5.13%		5.13%					34			34
	Unamortized Premium and Discount – Net							—			—
	Unamortized Debt Issuance Costs							(2		)	(1		)
	Other							—			—
TOTAL LONG-TERM DEBT								548			631
Less Amount Due Within One Year								—			—
Long-Term Debt Excluding Amount Due Within One Year									$548			$631
Fair Value of Long-Term Debt(b)									$565			$630
Weighted-average annualized coupon rate (c)								4.5		%	4.5%
*M = Mortgage Bond; G = Governmental Bond
(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) The fair value excludes lease obligations of $34 million at System Energy and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2019 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(c) Rate calculation only includes Bonds and VIE notes
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

UTILITY TOTAL CAPABILITY
			OWNED &
	OPERATED		LEASED	OPERATED
As of December 31, 2019	PLANTS	UNITS	(MW)(a)	(MW)(b)
Plants that use fuel type:
Gas/Oil	21	41	15,128	15,842
Coal	3	5	2,220	3,857
Petroleum Coke	1	2	—	190
Total Fossil	25	48	17,348	19,889
Hydro	3	7	73	147
Nuclear	2	3	5,207	5,346
Solar	4	4	2	2
Total Capability	34	62	22,630	25,384
All plants that have units with multiple fuel types are in the Gas & Oil plant count.
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties, which Entergy operates for the participating parties.



UTILITY SELECTED OPERATING DATA
	2019		2018		2017
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	52,672		51,093		46,221
Coal	8,214		11,848		10,730
Nuclear	37,484		36,242		34,695
Hydro	224		160		93
Solar	5		4		4
Total Net Generation	98,600		99,347		91,743
Purchased Power:
Affiliated Companies	—		—		—
Non-affiliated Companies	34,647		33,973		37,535
Total Purchased Power	34,647		33,973		37,535
Total Sources of Energy	133,246		133,320		129,278
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	36,093		37,107		33,834
Commercial	28,754		29,426		28,745
Industrial	48,484		48,384		47,769
Governmental	2,578		2,581		2,511
Total Retail	115,909		117,498		112,859
Sales for Resale	13,210		11,715		11,550
Unbilled Energy	(83	)	(513	)	364
Total Electric Energy Sales	129,036		128,700		124,773
Line Losses and Company Usage	4,210		4,620		4,505
Total Uses of Energy	133,246		133,320		129,278
Electric Energy Sales (Weather Adjusted)(GWh):
Residential	35,446		35,876		35,692
Commercial	28,490		29,047		29,015
Industrial	48,483		48,384		47,769
Governmental	2,561		2,566		2,519
Total Weather Adjusted Sales	114,980		115,873		114,995
Peak Demand (MW)	21,598		21,587		21,671
Operational Summer Capacity at Peak (MW)	23,887		23,121		24,279
Annual System Load Factor (%)	64		65		62
Retail Electric Sales Growth Rate (%)	(1.4	)	4.1		0.2
Retail Electric Sales Weather-Adjusted Growth Rate (%)	(0.8	)	0.8		2.3
Average Fuel Cost (cents/KWh)
Natural Gas	2.33		2.84		2.60
Nuclear Fuel	0.73		0.84		0.86
Coal	2.31		2.24		2.35
Purchased Power	4.86		5.23		4.02
MISO Purchases	2.71		3.71		3.09
Certain prior year data has been reclassified to conform with current year presentation.
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

2018 CONSOLIDATING UTILITY ELECTRIC STATISTICAL INFORMATION

	E-AR	E-LA		E-MS		E-NO	E-TX		SERI		ELIMINATIONS		UTILITY		%
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	795,269	1,270,478		562,219		245,081	658,453		—		—		3,531,500		37	%
Commercial	538,850	947,412		444,173		202,138	343,013		—		—		2,475,586		26	%
Industrial	520,958	1,450,966		164,491		31,824	373,048		—		—		2,541,288		27	%
Governmental	20,795	71,046		44,300		70,865	21,464		—		—		228,470		2	%
Total Retail	1,875,873	3,739,902		1,215,183		549,908	1,395,978		—		—		8,776,844		93	%
Sales for Resale	257,864	333,394		39,295		38,626	59,074		584,144		(1,026,623	)	285,774		3	%
Other	125,858	149,731		68,566		5,883	33,902		(10,733	)	(5,791	)	367,415		4	%
Total Electric Operating Revenues	2,259,594	4,223,027		1,323,044		594,417	1,488,954		573,410		(1,032,414	)	9,430,033		100	%

SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	8,836	27,773		7,647		2,975	5,441		—		—		52,672		40	%
Coal	4,882	1,100		1,411		—	821		—		—		8,214		6	%
Nuclear	13,575	13,981		—		—	—		9,928		—		37,484		28	%
Hydro	224	—		—		—	—		—		—		224		—	%
Solar	—	—		2		3	—		—		—		5		—	%
Total Net Generation	27,517	42,854		9,060		2,978	6,262		9,928		—		98,600		74	%
Purchased Power:
Affiliated Companies	3,578	3,608		3,971		4,401	2,847		—		(18,405	)	—		—
Non-affiliated Companies	1,122	17,959		2,752		572	12,242		—		—		34,647		26	%
Total Purchased Power	4,700	21,567		6,723		4,973	15,089		—		(18,405	)	34,647		26	%
Total Sources of Energy	32,217	64,421		15,783		7,951	21,351		9,928		(18,405	)	133,246		100	%

USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	7,996	14,046		5,659		2,353	6,039		—		—		36,093		31	%
Commercial	5,822	11,353		4,698		2,215	4,667		—		—		28,754		25	%
Industrial	7,759	29,801		2,443		438	8,043		—		—		48,484		42	%
Governmental	241	827		436		815	259		—		—		2,578		2	%
Total Retail	21,818	56,027		13,236		5,821	19,008		—		—		115,909		100	%
Sales for Resale	9,385	6,738		1,776		1,961	1,815		9,940		(18,405	)	13,210		—
Unbilled Energy	24	(16	)	(78	)	18	(31	)	—		—		(83	)	—
Total Electric Energy Sales	31,227	62,749		14,934		7,800	20,792		9,940		(18,405	)	129,036		—
Line Losses and Company Usage	990	1,672		849		151	559		(12	)	—		4,210		—
Total Uses of Energy	32,217	64,421		15,783		7,951	21,351		9,928		(18,405	)	133,246		—

AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	9.95	9.05		9.93		10.42	10.90		—		—		9.78		—
Commercial	9.26	8.34		9.45		9.13	7.35		—		—		8.61		—
Industrial	6.71	4.87		6.73		7.27	4.64		—		—		5.24		—
Governmental	8.63	8.59		10.16		8.70	8.29		—		—		8.86		—

NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential	595,315	940,071		377,158		184,399	403,793		—		—		2,500,736		85	%
Commercial	95,320	132,364		64,488		17,198	50,025		—		—		359,395		12	%
Industrial	23,382	10,654		3,971		1,832	5,481		—		—		45,320		2	%
Governmental	667	8,003		5,130		1,915	2,053		—		—		17,768		1	%
Total Retail Customers	714,684	1,091,092		450,747		205,344	461,352		—		—		2,923,219		100	%
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

ENTERGY ARKANSAS, LLC
	2019	2018		2017
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	795,269	807,098		768,389
Commercial	538,850	425,523		495,252
Industrial	520,958	434,387		471,958
Governmental	20,795	16,537		18,818
Total Retail	1,875,873	1,683,545		1,754,417
Sales for Resale	257,864	248,861		249,028
Other	125,858	128,238		136,474
Total Electric Operating Revenues	2,259,594	2,060,644		2,139,919

SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	8,836	8,983		8,079
Coal	4,882	6,263		5,563
Nuclear	13,575	12,721		12,693
Hydro	224	160		93
Total Net Generation	27,517	28,127		26,428
Purchased Power:
Affiliated Companies	3,578	2,255		2,403
Non-affiliated Companies	1,122	1,494		1,731
Total Purchased Power	4,700	3,749		4,134
Total Sources of Energy	32,217	31,876		30,562

USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	7,996	8,248		7,298
Commercial	5,822	5,967		5,825
Industrial	7,759	8,071		7,528
Governmental	241	239		237
Total Retail	21,818	22,525		20,888
Sales for Resale	9,385	8,220		8,331
Unbilled Energy	24	(13	)	43
Total Electric Energy Sales	31,227	30,732		29,262
Line Losses and Company Usage	990	1,144		1,300
Total Uses of Energy	32,217	31,876		30,562

AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	9.95	9.79		10.53
Commercial	9.26	7.13		8.50
Industrial	6.71	5.38		6.27
Governmental	8.63	6.92		7.94

NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential	595,315	592,718		590,999
Commercial	95,320	94,640		93,910
Industrial	23,382	23,364		23,770
Governmental	667	769		751
Total Retail Customers	714,684	711,491		709,430
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

ENTERGY ARKANSAS, LLC

GENERATION PORTFOLIO
								PLANT						TOTAL PLANT – 2019
					OWNED &			AVG BTU								TOTAL
					LEASED			PER KWH	Emissions					NET	EXPENSES	PRODUCTION
				COMMERCIAL	CAPABILITY	FUEL		NET	SO2	NOx	CO2	Hg		GENERATION	PER NET	EXPENSE
PLANT	UNIT	OWNERSHIP		OPERATION	(MW)(a)	TYPE	PURPOSE	GENERATION(d)	(tons)	(tons)	(tons)	(lbs)	TECHNOLOGY(b)	(MWH)	MWH	($ thousands)
Lake Catherine	4	100	%	1970	522	Gas/Oil	Peaking	12,352	1	191	104,346			127,496	184.7	23,543
Ouachita	1	100	%	2002	242	Gas	Intermediate	7,291	3	67	542,140		Dry LNB, SCR	2,397,488	22.2	53,161
	2	100	%	2002	244	Gas	Intermediate		3	65	505,218		Dry LNB, SCR
Hot Spring	1	100	%	2002	600	Gas	Intermediate	7,411	7	122	1,314,950		Dry LNB, SCR	2,937,708	24.8	72,779
Independence	1	31.5	%	1983	260	Coal	Base	10,528	2,329	795	1,020,041	8	LNB w/Sep OFA, ESP, ACI	838,173	31.2	26,121
White Bluff	1	57	%	1980	464	Coal	Base	10,619	5,886	1,819	2,596,682	20	OFA, ESP, ACI	4,058,101	27.9	113,088
	2	57	%	1981	469	Coal	Base		5,121	1,582	2,190,964	15	LNB w/Sep OFA, ESP, ACI	—
Carpenter	1	100	%	1932	31	Hydro	Peaking							171,629	10.5	1,808
	2	100	%	1932	31	Hydro	Peaking
Remmel	1	100	%	1925	4	Hydro	Peaking							52,620	19.0	1,000
	2	100	%	1925	4	Hydro	Peaking
	3	100	%	1925	4	Hydro	Peaking
Union Power Station	2	100	%	2003	498	Gas	Intermediate	7,238	7	147	1,405,716		Dry LNB, SCR	3,373,496	21.7	73,279
Arkansas	1	100	%	1974	831	Nuclear PWR(c)	Base	10,352						13,574,636	26.4	358,607
Nuclear One	2	100	%	1980	979	Nuclear PWR(c)	Base
Total					5,183				13,358	4,788	9,680,057	43		27,531,347	26.3	723,386
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Installed NOx and particulate matter and mercury emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2 or CO2 control equipment operating on any unit.
(c) PWR = Pressurized Water Reactor.
(d) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency
Total may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

ENTERGY LOUISIANA, LLC
	2019		2018		2017
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	1,270,478		1,244,413		1,197,651
Commercial	947,412		941,321		955,539
Industrial	1,450,966		1,462,462		1,534,496
Governmental	71,046		68,587		68,707
Total Retail	3,739,902		3,716,783		3,756,393
Sales for Resale	333,394		356,603		341,632
Other	149,731		159,156		147,995
Total Electric Operating Revenues	4,223,027		4,232,542		4,246,020


SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	27,773		25,869		23,507
Coal	1,100		1,819		1,876
Nuclear	13,981		17,298		15,379
Hydro	—		—		—
Total Net Generation	42,854		44,986		40,762
Purchased Power:
Affiliated Companies	3,608		3,061		3,128
Non-affiliated Companies	17,959		17,211		19,984
Total Purchased Power	21,567		20,272		23,112
Total Sources of Energy	64,421		65,258		63,874

USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	14,046		14,494		13,357
Commercial	11,353		11,578		11,342
Industrial	29,801		29,254		29,754
Governmental	827		823		790
Total Retail	56,027		56,149		55,243
Sales for Resale	6,738		7,260		6,504
Unbilled Energy	(16	)	(64	)	2
Total Electric Energy Sales	62,749		63,345		61,749
Line Losses and Company Usage	1,672		1,913		2,125
Total Uses of Energy	64,421		65,258		63,874

AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	9.05		8.59		8.97
Commercial	8.34		8.13		8.42
Industrial	4.87		5.00		5.16
Governmental	8.59		8.33		8.70

NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential	940,071		933,809		929,024
Commercial	132,364		131,119		130,600
Industrial	10,654		10,745		10,830
Governmental	8,003		7,990		7,971
Total Retail Customers	1,091,092		1,083,663		1,078,425
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

ENTERGY LOUISIANA, LLC

GENERATION PORTFOLIO
								PLANT						TOTAL PLANT – 2019
					OWNED &			AVG BTU									TOTAL
					LEASED			PER KWH	Emissions					NET		EXPENSES	PRODUCTION
				COMMERCIAL	CAPABILITY			NET	SO2	NOx	CO2	Hg		GENERATION		PER NET	EXPENSE
PLANT	UNIT	OWNERSHIP		OPERATION	(MW)(a)	FUEL TYPE	PURPOSE	GENERATION(d)	(tons)	(tons)	(tons)	(lbs)	TECHNOLOGY(b)	(MWH)		MWH	($ thousands)
Acadia	2	100	%	2002	534	Gas	Intermediate	7,265	4	58	1,225,048		SCR	1,751,391		27.9	48,869
Little Gypsy	2	100	%	1966	415	Gas/Oil	Intermediate		3	751	556,282		BOOS	2,719,628		35.3	95,978
	3	100	%	1969	517	Gas/Oil	Intermediate		5	2,603	461,931		BOOS/IFGR
Ninemile	4	100	%	1971	730	Gas/Oil	Intermediate		9	4,602	1,756,130		BOOS/IFGR	5,840,464		30.4	177,347
	5	100	%	1973	744	Gas/Oil	Intermediate		8	3,733	1,052,780		BOOS/IFGR
	6	100	%	2014	553	Gas/Oil	Intermediate	7,138	8	160	1,731,342		SCR, Water/Steam Injection	4,002,853		26.7	106,834
Perryville	1	100	%	2002	526	Gas	Intermediate	7,040	6	141	1,606,075		Dry LNB, SCR	2,896,015		25.5	73,930
	2	100	%	2001	152	Gas	Peaking		—	2	31,298		Dry LNB	7,256
J. Wayne Leonard	1	100	%	2019	926	Gas	Intermediate
Sterlington	7	100	%	1974	47	Gas/Oil	Peaking		—	8	4,861			482		1,620.4	781
Waterford	1	100	%	1975	411	Gas/Oil	Intermediate	10,733	1	211	451,556		LNCB, FGR	673,704		56.1	3,786
	2	100	%	1975	417	Gas/Oil	Intermediate		1	399	550,616		LNCB, FGR
	4	100	%	2009	33	Oil	Peaking		3	7	9,782		Water/Steam Injection
LA Station 2	10	100	%	1950	—	Gas	Reserve							—		—	365
	11	100	%	1950	—	Gas	Reserve
	12	100	%	1953	—	Gas	Reserve
Roy S. Nelson	4	100	%	1970	—	Gas/Oil	Reserve						Combus Mod/Fuel Reburn	(12,421	)		1,359
Calcasieu	1	100	%	2000	144	Gas	Peaking	12,283	—	30	172,173		Dry LNB	59,767		153.0	9,142
	2	100	%	2001	160	Gas	Peaking		—	26	60,854		Dry LNB	58,132
Ouachita	3	100	%	2002	241	Gas	Intermediate	7,112	3	60	501,419		Dry LNB, SCR	1,213,793		22.8	27,694
Roy S. Nelson	6	40	%	1982	211	Coal	Base	11,890	3,089	977	1,349,092	6	LNB w/ Sep OFA, ESP, ACI	720,470		40.3	29,062
Big Cajun 2	3	24	%	1983	139	Coal	Base	10,734	1,322	270	908,127	6	LNB w/ OFA, ESP, ACI	379,214		40.7	15,446
River Bend	1	100	%	1986	967	Nuclear BWR(c)	Base	10,896						6,420,310		32.4	207,996
Waterford	3	100	%	1985	1,177	Nuclear PWR(c)	Base	10,879						7,560,402		30.1	227,576
Union Power Station	3	100	%	2003	506	Gas	Intermediate	7,312	4	85	1,049,064		Dry LNB, SCR	1,908,829		66.1	153,960
	4	100	%	2003	503	Gas	Intermediate		6	128	1,079,728		Dry LNB, SCR	3,021,774
Total					10,051				4,473	14,252	13,410,964	12		39,222,063		30.2	1,322,019
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Low NOx Cell Burner (LNCB), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Water/Steam Injection, Flue Gas Recirculation (FGR), Induced Flue Gas Recirculation (IFGR), Burners-out-of-service (BOOS) and Activated Carbon Injection (ACI). Currently have no SO2 or CO2 control equipment operating on any unit.
(c) BWR = Boiling Water Reactor; PWR = Pressurized Water Reactor.
(d) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

ENTERGY MISSISSIPPI, LLC
	2019		2018		2017
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	562,219		578,568		502,305
Commercial	444,173		461,832		422,692
Industrial	164,491		175,056		158,649
Governmental	44,300		43,747		41,049
Total Retail	1,215,183		1,259,203		1,124,695
Sales for Resale	39,295		25,812		18,238
Other	68,566		50,097		55,296
Total Electric Operating Revenues	1,323,044		1,335,112		1,198,229

SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	7,647		7,318		6,727
Coal	1,411		2,421		1,904
Nuclear	—		—		—
Hydro	—		—		—
Solar	2		3		2
Total Net Generation	9,060		9,742		8,633
Purchased Power:
Affiliated Companies	3,971		2,502		2,667
Non-affiliated Companies	2,752		3,155		3,332
Total Purchased Power	6,723		5,657		5,999
Total Sources of Energy	15,783		15,399		14,632

USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	5,659		5,829		5,308
Commercial	4,698		4,865		4,783
Industrial	2,443		2,559		2,536
Governmental	436		438		421
Total Retail	13,236		13,691		13,048
Sales for Resale	1,776		1,060		857
Unbilled Energy	(78	)	(31	)	22
Total Electric Energy Sales	14,934		14,720		13,927
Line Losses and Company Usage	849		679		705
Total Uses of Energy	15,783		15,399		14,632

AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	9.93		9.93		9.46
Commercial	9.45		9.49		8.84
Industrial	6.73		6.84		6.26
Governmental	10.16		9.99		9.75

NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential	377,158		375,730		375,281
Commercial	64,488		64,719		64,583
Industrial	3,971		3,984		3,970
Governmental	5,130		5,169		5,066
Total Retail Customers	450,747		449,602		448,900
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

ENTERGY MISSISSIPPI, LLC

GENERATION PORTFOLIO
								PLANT						TOTAL PLANT – 2019
					OWNED &			AVG BTU								TOTAL
					LEASED			PER KWH	Emissions					NET	EXPENSES	PRODUCTION
				COMMERCIAL	CAPABILITY			NET	SO2	NOx	CO2	Hg		GENERATION	PER NET	EXPENSE
PLANT	UNIT	OWNERSHIP		OPERATION	(MW)(a)	FUEL TYPE	PURPOSE	GENERATION	(tons)	(tons)	(tons)	(lbs)	TECHNOLOGY(b)	(MWH)	MWH	($ thousands)
Attala	1	100	%	2001	451	Gas	Intermediate	7,046	4	69	696,835		Dry LNB, SCR	1,658,875	25.3	41,986
Hinds	1	100	%	2001	455	Gas	Intermediate	7,095	7	118	1,312,792		Dry LNB, SCR	3,176,284	22.2	70,543
Baxter Wilson	1	100	%	1967	494	Gas/Oil	Intermediate	10,614	197	1,811	947,943		Combus Mod/Fuel Reburn	1,537,393	32.2	49,449
Choctaw	1	100	%	2003	796	Gas	Intermediate	6,911	1	22	261,967			656,617	24.4	16,017
Gerald Andrus	1	100	%	1975	727	Gas/Oil	Intermediate	12,617	2	730	401,689		OFA	534,554	60.4	32,313
Rex Brown	4	100	%	1959	—	Gas/Oil	Retired	13,827	—	164	84,851			84,274	40.3	3,400
	5	100	%	1968	—	Oil	Retired
Independence	1	25	%	1983	206	Coal	Base	10,667	1,848	631	809,556	6	LNB w/Sep OFA, ESP, ACI	663,534	63.6	42,175
	2	25	%	1984	210	Coal	Base		2,116	635	915,165	7	OFA, ESP, ACI	747,209
DeSoto Solar	1	100	%	2015	0.4	Solar	N/A							512	0.2	—
Brookhaven Solar	1	100	%	2015	0.4	Solar	N/A							543	.2	—
Hinds Solar	1	100	%	2015	0.4	Solar	N/A							664	.1	—
Total					3,341				4,176	4,178	5,430,797	13		9,060,459	28.2	255,884
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plan and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2, or CO2 control equipment operating on any unit.
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

ENTERGY NEW ORLEANS, LLC
	2019	2018		2017
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	245,081	261,585		250,164
Commercial	202,138	217,182		227,835
Industrial	31,824	33,371		35,642
Governmental	70,865	72,057		77,098
Total Retail	549,908	584,195		590,739
Sales for Resale	38,626	29,506		29,027
Other	5,883	11,031		11,978
Total Electric Operating Revenues	594,417	624,732		631,744

SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	2,975	2,735		2,675
Coal	—	—		—
Nuclear	—	—		—
Hydro	—	—		—
Solar	3	1		2
Total Net Generation	2,978	2,736		2,677
Purchased Power:
Affiliated Companies	4,401	3,912		3,874
Non-affiliated Companies	572	871		921
Total Purchased Power	4,973	4,783		4,795
Total Sources of Energy	7,951	7,519		7,472

USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	2,353	2,401		2,155
Commercial	2,215	2,270		2,248
Industrial	438	448		429
Governmental	815	795		790
Total Retail	5,821	5,914		5,622
Sales for Resale	1,961	1,484		1,703
Unbilled Energy	18	(329	)	28
Total Electric Energy Sales	7,800	7,069		7,353
Line Losses and Company Usage	151	450		119
Total Uses of Energy	7,951	7,519		7,472

AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	10.42	10.89		11.61
Commercial	9.13	9.57		10.14
Industrial	7.27	7.45		8.31
Governmental	8.70	9.06		9.76

NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential	184,399	181,633		179,754
Commercial	17,198	16,908		16,505
Industrial	1,832	1,940		2,110
Governmental	1,915	1,889		1,883
Total Retail Customers	205,344	202,370		200,252
Totals may not foot due to rounding.
On Sept. 1, 2015, E-LA transferred its Algiers assets to E-NO. The effect of the Algiers transfer has been retrospectively applied to E-NO's data presented above.

UTILITY STATISTICAL INFORMATION

ENTERGY NEW ORLEANS, LLC

GENERATION PORTFOLIO

PLANT

TOTAL PLANT – 2019

OWNED &

AVG BTU

TOTAL

LEASED

PER KWH

Emissions

NET

EXPENSES

PRODUCTION

COMMERCIAL

CAPABILITY

NET

SO2

NOx

CO2

GENERATION

PER NET

EXPENSE

PLANT

UNIT

OWNERSHIP

OPERATION

(MW)(a)

FUEL TYPE

PURPOSE

GENERATION

(tons)

(lbs)

TECHNOLOGY(b)

(MWH)

MWH

($ thousands)

Union Power Station

100

2003

507

Gas

Intermediate

7,274

126

1,254,501

Dry LNB, SCR

2,974,504

23.9

71,019

New Orleans Solar

100

2016

Solar

N/A

1,538

37.2

Total

508

1,254,501

2,976,042

23.9

71,077

(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.

(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2or CO2 control equipment operating on any unit.

Totals may not foot due to rounding.



SYSTEM ENERGY RESOURCES, INC.

	2019		2018		2017
ELECTRIC OPERATING REVENUES ($ thousands)	573,410		456,707		633,458

SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil			—		—
Coal			—		—
Nuclear	9,928		6,223		6,623
Hydro			—		—
Total Net Generation	9,928		6,223		6,623
Purchased Power			—		—
Total Sources of Energy	9,928		6,223		6,623

USES OF ENERGY (GWh)
Electric Energy Sales	9,940		6,264		6,675
Unbilled Energy			—		—
Line Losses and Company Usage	(12	)	(41	)	(52	)
Total Uses of Energy	9,928		6,223		6,623
Totals may not foot due to rounding.

SYSTEM ENERGY RESOURCES, INC.

GENERATION PORTFOLIO

PLANT

TOTAL PLANT – 2019

OWNED &

AVG BTU

TOTAL

LEASED

PER KWH

Emissions

NET

EXPENSES

PRODUCTION

COMMERCIAL

CAPABILITY

NET

SO2

NOx

CO2

GENERATION

PER NET

EXPENSE

PLANT

UNIT

OWNERSHIP

OPERATION

(MW)(a)

FUEL TYPE

PURPOSE

GENERATION(c)

(tons)

(lbs)

TECHNOLOGY

(MWH)

MWH

($ thousands)

Grand Gulf

90%

1985

1,253

Nuclear BWR(b)

Base

10,410

—

9,928,077

27.9

276,515

Total

1,253

9,928,077

27.9

276,515

(b) BWR = Boiling Water Reactor.

(c) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency

Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

ENTERGY TEXAS, INC.
	2019		2018		2017
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	658,453		673,858		636,254
Commercial	343,013		380,619		378,453
Industrial	373,048		393,951		383,814
Governmental	21,464		24,953		24,901
Total Retail	1,395,978		1,473,381		1,423,422
Sales for Resale	59,074		97,478		79,694
Other	33,902		35,043		41,777
Total Electric Operating Revenues	1,488,954		1,605,902		1,544,893

SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	5,441		6,188		5,233
Coal	821		1,345		1,387
Nuclear	—		—		—
Hydro	—		—		—
Total Net Generation	6,262		7,533		6,620
Purchased Power:
Affiliated Companies	2,847		3,321		2,711
Non-affiliated Companies	12,242		11,242		11,567
Total Purchased Power	15,089		14,563		14,278
Total Sources of Energy	21,351		22,096		20,898

USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	6,039		6,135		5,716
Commercial	4,667		4,747		4,548
Industrial	8,043		8,052		7,521
Governmental	259		286		273
Total Retail	19,008		19,220		18,058
Sales for Resale	1,815		2,478		2,263
Unbilled Energy	(31	)	(76	)	269
Total Electric Energy Sales	20,792		21,622		20,590
Line Losses and Company Usage	559		474		308
Total Uses of Energy	21,351		22,096		20,898

AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	10.90		10.98		11.13
Commercial	7.35		8.02		8.32
Industrial	4.64		4.89		5.10
Governmental	8.29		8.72		9.12

NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2019)
Residential	403,793		397,137		391,613
Commercial	50,025		49,232		48,591
Industrial	5,481		5,757		5,513
Governmental	2,053		2,022		2,157
Total Retail Customers	461,352		454,148		447,874
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

ENTERGY TEXAS, INC.

GENERATION PORTFOLIO
							PLANT						TOTAL PLANT – 2019
				OWNED &			AVG BTU								TOTAL
				LEASED			PER KWH	Emissions					NET	EXPENSES	PRODUCTION
			COMMERCIAL	CAPABILITY			NET	SO2	NOx	CO2	Hg		GENERATION	PER NET	EXPENSE
PLANT	UNIT	OWNERSHIP	OPERATION	(MW)(a)	FUEL TYPE	PURPOSE	^GENERATION	(tons)	(tons)	(tons)	(lbs)	TECHNOLOGY(b)	(MWH)	MWH	($ thousands)
Roy S. Nelson	6	30%	1982	156	Coal	Base	12,153	2,283	722	704,503	4	LNB w/ Sep OFA, ESP, ACI	532,521	42.9	22,852
Big Cajun 2	3	18%	1983	103	Coal	Base	9,966	977	199	342,062	1	LNB w/ OFA, ESP, ACI	288,142	39.9	11,484
Lewis Creek	1	100%	1970	249	Gas/Oil	Intermediate	10,740	3	134	641,782		SCR	2,192,154	32.3	70,817
	2	100%	1971	254	Gas/Oil	Intermediate		3	139	670,795		SCR
Sabine	1	100%	1962	212	Gas/Oil	Intermediate	10,506	1	242	193,256			3,249,202	37.3	121,218
	3	100%	1966	359	Gas/Oil	Intermediate		2	320	427,428		LNB w/ Sep OFA
	4	100%	1974	513	Gas	Intermediate		5	1,586	973,011		Combus Mod/Fuel Reburn
	5	100%	1979	447	Gas/Oil	Intermediate		2	336	462,580		LNB w/ Closed-coupled OFA
Total				2,292				3,277	3,678	4,415,416	5		6,262,019	36.1	226,371
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2or CO2 control equipment operating on any unit.
Totals may not foot due to rounding.



UTILITY STATISTICAL INFORMATION

UTILITY NUCLEAR PLANT STATISTICS
The following table shows plant performance for 2017 – 2019 based on 18/24 month operating cycle.

CAPABILITY FACTOR (%)	2019	2018	2017
ANO	82.9	85.3	78.0
Grand Gulf	76.4	62.9	55.4
River Bend	79.8	83.3	83.3
Waterford 3	82.4	99.6	88.5
Entergy Southeast Average	80.9	83.3	76.6
Industry Average	93.4	93.2	92.9



The following table shows plant performance for 2019 and average for one three-year period.

PRODUCTION COST ($/MWh) (a)	2019	2016-2018
ANO	26.4	30.5
Grand Gulf	27.8	36.8
River Bend	32.4	31.1
Waterford 3	30.1	24.5
Entergy Southeast Average	29.2	30.2
(a) Fuel and other operation and maintenance expenses according to accounting standards that directly relate to the production of electricity per MWh; excludes special items.



INDIVIDUAL PLANT INFORMATION

	ANO		GRAND GULF	RIVER BEND	WATERFORD 3
	UNIT 1	UNIT 2
Owner	Entergy Arkansas	Entergy Arkansas	System Energy - 90% Cooperative Energy - 10%	Entergy Louisiana	Entergy Louisiana
Commercial Operation Date	December 74	March 80	July 85	June 86	September 85
License Expiration Date	5/20/2034	7/17/2038	11/1/2044	8/29/2045	12/18/2044
Architect/Engineer	Bechtel Power	Bechtel Power	Bechtel Power	Stone & Webster	Ebasco
Reactor Manufacturer	Babcox & Wilcox	Combustion Engineering	General Electric	General Electric	Combustion Engineering
Reactor Type	PWR	PWR	BWR	BWR	PWR
Turbine Generator Manufacturer	Westinghouse	General Electric	Kraftwerk Union	General Electric	Westinghouse
Owned and Leased Capability (MW)(a)	833	985	1,272	967	1,165
Refueling Data:
Last Date	10/5/19 –	3/14/20 –	2/22/20 –	3/30/19 –	1/5/19 –
	11/20/2019	4/21/2020	5/23/2020	5/13/2019	3/18/2019
Number of Days	46	39	91	45	73
Next Scheduled Refueling	Spring 21	Fall 21	Spring 22	Spring 21	Fall 20
2019 Capability Factor (%)	90.4	75.5	76.4	79.8	82.4
($ in millions as of December 31, 2019)
Net Book Value	1,777(b)		1,787	2,082(c)	2,535
Decommissioning Trust Fair Values	1,101(b)		1,054	976(c)	588
Decommissioning Liability	1,221(b)		932	662(c)	808
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
(b) ANO Units 1 and 2 are reported together.
(c) 30% of River Bend is not subject to rate regulation by the Public Utility Commission of Texas, the Louisiana Public Service Commission, nor various municipal authorities, and is included in non-utility property on the balance sheet. The decommissioning trust fund balance and decommissioning liability include amounts for the 30% not subject to rate regulation.



UTILITY REGULATORY INFORMATION

STATE REGULATORY COMMISSIONS

	ARKANSAS	LOUISIANA	MISSISSIPPI	NEW ORLEANS	TEXAS
Commission	Arkansas Public	Louisiana	Mississippi	New Orleans	Public Utility
	Service	Public Service	Public Service	City Council	Commission
	Commission	Commission	Commission		of Texas
Number of Commissioners	3	5	3	7	3
Method of Selection	Appointed by	Elected	Elected	Elected	Appointed by
	Governor				Governor
Term of Office	6 years –	6 years –	4 years –	4 years –	6 years –
	staggered	staggered	concurrent	concurrent	staggered
				(2 term limit)
Chair/President	Appointed by	Selected by	Rotates every	Rotates annually	Appointed by
	Governor	peers – 1 year	1 - 2 years, as	from the	Governor
		term	determined by members	at-large positions



COMMISSION/COUNCIL MEMBERS
			CURRENT
	PARTY	SERVICE BEGAN	TERM ENDS
ARKANSAS
Ted J. Thomas – Chairperson	Republican	1/15	1/21
Kimberly A. O'Guinn	Republican	1/17	1/23
Justin Tate	Republican	1/19	1/25
LOUISIANA
Mike Francis - Chairperson	Republican	11/16	12/22
Foster L. Campbell, Jr.	Democrat	1/03	12/20
Eric Skrmetta	Republican	1/09	12/20
Craig Greene - Vice-Chairperson	Republican	6/17	12/24
Lambert C. Boissiere, III	Democrat	1/05	12/22
MISSISSIPPI
Dane Maxwell – Chairperson	Democrat	1/20	12/23
Brent Bailey	Republican	1/20	12/23
Brandon Presley	Democrat	1/08	12/23
NEW ORLEANS
Helena Moreno - Chairperson of Utility Committee	Democrat	5/18	5/22
Jason Rogers Williams	Democrat	5/14	5/22
Jared Brossett	Democrat	5/14	5/22
Joseph Giarrusso	Democrat	5/18	5/22
Jay Banks	Democrat	5/18	5/22
Kristin Gisleson Palmer	Democrat	5/18	5/22
Cyndi Nguyen	Democrat	5/18	5/22
TEXAS
DeAnn Walker - Chairperson	Republican	9/17	9/21
Arthur D'Andrea	Republican	11/17	9/23
Shelly Botkin	Republican	6/18	9/25
3/27/2020



ENTERGY WHOLESALE COMMODITIES

EWC QUARTERLY FINANCIAL METRICS
	2019								2018										FY
($ millions)	1Q	2Q		3Q		4Q	FY		1Q		2Q		3Q		4Q		FY		CHANGE
GAAP MEASURES
As-Reported Earnings	97	(25	)	(141	)	218	149		(18	)	(56	)	106		(372	)	(340	)	489
NON-GAAP MEASURES
Adjusted EBITDA	92	2		(127	)	20	(13	)	86		(37	)	(52	)	(199	)	(202	)	189



EWC ANNUAL FINANCIAL METRICS
($ millions)	2019		2018		2017
GAAP MEASURES
As-Reported Earnings	149		(340	)	(175	)
NON-GAAP MEASURES
Adjusted EBITDA	(13	)	(202	)	557



EWC QUARTERLY OPERATIONAL METRICS
	2019															2018															FY
	1Q			2Q			3Q			4Q			FY			1Q			2Q			3Q			4Q			FY			% CHANGE
Owned Capacity (MW) (a)	3,962			3,274			3,274			3,274			3,274			3,962			3,962			3,962			3,962			3,962			(17	)%
GWh billed	7,203			7,258			6,847			6,780			28,088			7,885			7,281			7,576			8,022			30,764			(9	)%
EWC Nuclear
Capacity Factor	85		%	92		%	98		%	99		%	94		%	83		%	86		%	90		%	78		%	84		%	11	%
GWh billed	6,690			6,703			6,210			6,326			25,929			6,408			6,713			6,976			7,520			27,617			(6	)%
Production cost per MWh (b)	$	20.04		$	24.82		$	15.68		$	17.71		$	18.29		$	18.75		$	17.15		$	17.15		$	18.79		$	17.68		3	%
(a) Pilgrim (688 MW) was shutdown May 31, 2019 and sold on August 26,2019.
(b) Fuel and O&M expenses according to accounting standards that directly relate to the production of electricity per MWh (based on net generation), excluding special items.
Totals may not foot due to rounding.



EWC ANNUAL OPERATIONAL METRICS
	2019			2018			2017
Owned Capacity (MW) (a)	3,274			3,962			3,962
GWh billed	28,088			30,764			30,501
EWC Nuclear
Capacity Factor	93		%	83		%	83		%
GWh billed	25,929			27,617			28,178
Production cost per MWh (b)	$	18.29		$	17.68		$	18.70
Totals may not foot due to rounding.
(a) James A. FitzPatrick Nuclear Station (838 MW) was sold in March 2017; Pilgrim (688 MW) was shutdown May 31, 2019 and sold on August 26, 2019.
(b) Fuel and other O&M expenses according to accounting standards that directly relate to the production of electricity per MWh (based on net generation), excluding special items.



EWC TOTAL CAPACITY
		OPERATED (a)		OWNED CAPACITY
As of December 31, 2019	PLANTS	UNITS	MW	MW	%
Gas/Oil	—	—	—	213	7
Coal	—	—	—	181	6
Total Fossil	—	—	—	394	12
Nuclear	3	4	3,680	2,880	88
Total Capacity	3	4	3,680	3,274	100
Totals may not foot due to rounding.
(a) Operated capacity includes management services contracts and excludes units operated by Entergy’s utility companies.



ENTERGY WHOLESALE COMMODITIES

EWC NUCLEAR PLANT STATISTICS

	INDIAN POINT			PALISADES
	ENERGY CENTER			NUCLEAR
	UNIT 2		UNIT 3	PLANT
Entergy Purchase Date	9/6/01		11/21/00	4/11/07
Commercial Operation Date	August 74		August 76	December 71
License Expiration Date	4/30/24		4/30/25	3/24/31
Architect/Engineer	United Engineers & Constructors		United Engineers & Constructors	Combustion Engineering
Reactor Manufacturer	Westinghouse		Westinghouse	Combustion Engineering
Reactor Type	PWR		PWR	PWR
Turbine Generator Manufacturer	General Electric		Westinghouse	Westinghouse
Net MWs in Operation (MW)	1,028		1,041	811
Refueling Data:
Last Date	3/19/18 –		3/11/19 –	10/28/18 –
	4/21/18		4/9/19	12/28/18
Number of Days	33		29	61
Upcoming Refueling Outages				Summer 20

2019 Capacity Factor	93	%	91%	97	%
Net Book Value of Plant and Related Assets (a)	240			60
($ in millions as of December 31, 2019)
Capacity Zone (ICAP/UCAP)	NYISO Lower Hudson Valley		NYISO Lower Hudson Valley	MISO
Nearest Market Hub	Zone G (b)		Zone G (b)	Indiana
(a) Entergy's adjusted investment in the companies being sold, with Indian Point as a combined total.
(b) Indian Point physically located in NYISO Zone H.



EWC NUCLEAR PLANT ADDITIONAL INFORMATION
				PALISADES	PILGRIM
	INDIAN POINT			NUCLEAR	NUCLEAR
	UNIT 1	UNIT 2	UNIT 3	PLANT	STATION
Decommissioning Trust Asset	556	701	930	498	—
Decommissioning Liability	239	829	808	590 (a)	—
($ in millions as of December 31, 2019)
Planned closing date	n/a (b)	4/30/20	4/30/21	5/31/2022	n/a (c)
(a) Includes $40 million for Big Rock Point.
(b) Indian Point 1 has been shut down and in safe storage since the 1970s.
(c) Pilgrim was shutdown May 31, 2019 and sold on August 26,2019.



EWC NON-NUCLEAR WHOLESALE ASSETS PLANT STATISTICS
	NERC	COMMERCIAL	OWNERSHIP	NET	TOTAL	FUEL TYPE
PLANT	REGION	OPERATION	INTEREST	MW	MW	TECHNOLOGY
Independence – Unit 2	SERC	1983	14%	121	842	Coal
Nelson 6	SERC	1982	11%	60	550	Coal
RS Cogen	SERC	2002	50%	213	425	CCGT Cogen
Total				394	1,817



EWC NON-NUCLEAR WHOLESALE ASSETS PLANT EMISSIONS

		Emissions
PLANT	PURPOSE	SO2 (tons)	NOx (tons)	Co2 (tons)	Hg (lbs)	TECHNOLOGY (a)
Independence – Unit 2	Base	1,216	365	526,037	2	OFA, ESP, ACI
Nelson 6	Base	836	265	258,120	2	LNB w Sep OFA, ESP, ACI
RS Cogen	Base	4	395	873,994	—	Dry LNB/SCR
(a) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Overfire Air (OFA), Electrostatic Precipitator (ESP), Activated Carbon Injection (ACI), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Dry Low NOx Burners (Dry LNB), and Selective Catalytic Reduction (SCR) or Steam Injection.
Currently have no SO2 or CO2 control equipment operating on any unit.
Totals may not foot due to rounding.



EWC NON-NUCLEAR WHOLESALE ASSETS

EWC NON-NUCLEAR WHOLESALE ASSETS SECURITIES DETAIL
DEBT:
OUTSTANDING AS OF DECEMBER 31,
ENTERGY’S SHARE
($ millions)	2019	2018	MATURITY	RATE

RS Cogen Senior Project Debt
Bank Portion(a)	$—	$—	10/17/2018	LIBOR + 2.25%
Institutional Portion	$26	$35	10/15/2022	Fixed 8.73%
RS Cogen Subordinated Debt(b)	$28	$26	10/17/2017	LIBOR + 4.50%
(a) RS Cogen spread on bank portion increases over time from 1.375% to 2.375%.
(b) Debt outstanding includes Entergy's portion of accrued but unpaid interest on Entergy's portion of the RS Cogen subordinated debt since the project went into default on the subordinated credit facility in 2008.



VERMONT YANKEE CREDIT FACILITY
OUTSTANDING AS OF DECEMBER 31,	RATE		2019	2018
	3.93	%	$139	$139


			SHARES OUTSTANDING
PREFERRED STOCK:			AS OF DECEMBER 31,		AS OF DECEMBER 31,
($ millions)	RATE		2019	2018	2019		2018

Without Sinking Fund:
Entergy Finance Holding, Inc.	8.75%(a)		250,000	250,000	$	24	$	24
Authorized 250,000 shares, $100 par value, cumulative
Total without sinking fund			250,000	250,000	$	24	$	24
(a) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs.



DEFINITIONS OF OPERATIONAL MEASURES AND GAAP AND NON-GAAP FINANCIAL MEASURES

OPERATIONAL MEASURES
Owned capacity (MW)	Installed capacity owned by EWC
Production cost per MWh	Fuel and other O&M expenses according to accounting standards that directly relate to the production of
	electricity per MWh (based on net generation)
Billed electric energy sales (GWh billed)	Total number of GWh billed to customers and financially-settled instruments
Capability factor	The percentage of the maximum energy generation a plant is capable of supplying to the grid, limited
	only by factors within control of plant management; a high capability factor indicates effective plant
	programs and practices to minimize unplanned energy losses and to optimize planned outages
Capacity factor	Normalized percentage of the period that the nuclear plants generate power
Refueling outage days	Number of days lost for a scheduled refueling and maintenance outage during the period

Financial measures defined below include measures prepared in accordance with generally accepted accounting principles (GAAP), as well as non-GAAP measures.
Non-GAAP measures are included in this report in order to provide metrics that remove the effect of less routine financial impacts from commonly used financial metrics.

FINANCIAL MEASURES – GAAP
Return on average invested capital (ROIC) – as-reported	12-months rolling net income attributable to Entergy Corporation or subsidiary adjusted for preferred
	dividends and tax-effected interest expense divided by average invested capital
Return on average common equity (ROE) – as-reported	12-months rolling net income attributable to Entergy Corporation or subsidiary divided by average common equity
Return on average member's equity – as-reported	12-months rolling attributable to Entergy Corporation or subsidiary divided by average member's equity
Common dividend payout – as-reported	Common dividend paid per share divided by earnings per share
Revolver capacity	Amount of undrawn capacity remaining on corporate and subsidiary revolvers
Total debt	Sum of short-term and long-term debt, notes payable and commercial paper, and capital leases on the balance sheet
Debt of joint ventures – Entergy’s share	Entergy's share of debt issued by business joint ventures at EWC
Leases - Entergy’s share	Operating leases held by subsidiaries capitalized at implicit interest rate
Debt to capital	Total debt divided by total capitalization
Securitization debt	Debt on the balance sheet associated with securitization bonds that is secured by certain future customer collections

FINANCIAL MEASURES – NON-GAAP
Adjusted earnings	As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments
Adjusted EBITDA	Earnings before interest, income taxes, depreciation and amortization, excluding interest and investment income and decommissioning
	expense for EWC
Adjusted EPS	As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments, divided by the diluted average
	number of common shares outstanding
Adjustments	Unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business
	of Entergy, such as the results of the EWC segment, significant tax items, and other items such as certain costs, expenses,
	or other specified items
Common dividend payout – adjusted	Common dividend paid per share divided by adjusted earnings per share
Return on average invested capital (ROIC) – adjusted	12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary adjusted for preferred dividends and tax-
	effected interest expense divided by average invested capital
Return on average common equity (ROE) – adjusted	12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary divided by average common equity
Return on average member's equity – adjusted	12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary divided by average member's equity
Gross liquidity	Sum of cash and available revolver capacity
Total debt, excluding securitization debt	Total debt, excluding securitization debt
Debt to capital, excluding securitization debt	Total debt divided by total capitalization, excluding securitization debt
Net debt to net capital, excluding securitization debt	Total debt less cash and cash equivalents divided by total capitalization less cash and cash equivalents,
	excluding securitization debt
Parent debt to total debt, excluding securitization debt	End of period Entergy Corporation debt, including amounts drawn on credit revolver and commercial paper facilities, as a
	percent of consolidated total debt, excluding securitization debt
FFO	OCF less AFUDC-borrowed funds, working capital items in OCF (receivables, fuel inventory, accounts payable, taxes accrued,
	interest accrued, and other working capital accounts), and securitization regulatory charges
FFO to debt, excluding securitization debt	12-months rolling adjusted FFO as a percentage of end of period total debt excluding securitization debt
FFO to debt, excluding securitization debt, return of unprotected	12-months rolling adjusted FFO excluding return of unprotected excess ADIT and severance and retention payments
excess ADIT, and severance and retention payments associated	associated with exit of EWC as a percentage of end of period total debt excluding securitization debt
with exit of EWC



REG G RECONCILIATIONS

CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019	2018		2017
As-reported net income (loss) attributable to Entergy Corporation (A)	1,241	849		412
Preferred dividends	17	14		14
Tax-effected interest expense	554	527		407
As-reported net income (loss) attributable to Entergy Corporation
adjusted for preferred dividends and tax-effected interest expense (B)	1,812	1,390		833

Adjustments (C)	177	(121	)	(303	)

EWC preferred dividends and tax-effected interest expense, rolling 12 months	25	29		18

Total adjustments, adding back EWC preferred dividends and
tax-effected interest expense (non-GAAP) (D)	202	(92	)	(285	)

Adjusted earnings, (non-GAAP) (A-C)	1,064	970		715
Adjusted earnings, including preferred dividends and
tax-effected interest expense (non-GAAP) (B-D)	1,610	1,482		1,118

Average invested capital (E)	28,780	26,032		24,213

Average common equity (F)	9,534	8,418		8,037

($ per share)
As-reported earnings per share (N)	6.30	4.63		2.28

Adjusted earnings per share (O)	5.40	5.29		3.96

Common dividend paid per share (P)	3.66	3.58		3.50

(%)
ROIC – As-reported (B/E)	6.3	5.3		3.4
ROIC – Adjusted (non-GAAP) ((B-D)/E)	5.6	5.7		4.6

ROE – As-reported (A/F)	13.0	10.1		5.1
ROE – Adjusted (non-GAAP) ((A-C)/F)	11.2	11.5		8.9

Common dividend payout – As-reported % (P/N)	58	77		154
Common dividend payout – Adjusted % (P/O)	68	68		88
Calculations may differ due to rounding.



REG G RECONCILIATIONS

CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q18-4Q19

($ millions)	1Q19		2Q19		3Q19		4Q19	1Q18		2Q18		3Q18		4Q18
As-reported net income (loss) attributable to Entergy Corporation, rolling 12	970		961		790		1,241	462		297		435		849
months (A)
Preferred dividends	15		15		16		17	14		14		14		14
Tax-effected interest expense	539		543		548		554	499		510		520		527
As-reported net income (loss) attributable to Entergy Corporation, rolling 12
months adjusted for preferred dividends and tax-effected interest expense (B)	1,524		1,519		1,354		1,812	975		821		969		1,390

Adjustments, rolling 12 months (C)	(6	)	(18	)	(264	)	177	(294	)	(531	)	(481	)	(121	)

EWC preferred dividends and tax-effected interest expense, rolling 12 months	30		30		27		25	22		24		27		29

Total adjustments, adding back EWC preferred dividends and
tax-effected interest expense (non-GAAP) (D)	24		12		(237	)	202	(272	)	(507	)	(454	)	(92	)

Adjusted earnings, rolling 12 months (non-GAAP) (A-C)	976		979		1,054		1,064	756		828		916		970
Adjusted earnings, rolling 12 months including preferred dividends and
tax-effected interest expense (non-GAAP) (B-D)	1,501		1,507		1,591		1,610	1,247		1,328		1,423		1,482

Average invested capital (E)	27,184		27,586		28,413		28,780	24,862		25,480		26,107		26,032

Average common equity (F)	8,473		8,910		9,224		9,534	8,016		8,197		8,551		8,418

(%)
ROIC – As-reported (B/E)	5.6		5.5		4.8		6.3	3.9		3.2		3.7		5.3
ROIC – Adjusted (non-GAAP) ((B-D)/E)	5.5		5.5		5.6		5.6	5.0		5.2		5.5		5.7

ROE – As-reported (A/F)	11.4		10.8		8.6		13.0	5.8		3.6		5.1		10.1
ROE – Adjusted (non-GAAP) ((A-C)/F)	11.5		11.0		11.4		11.2	9.4		10.1		10.7		11.5
Calculations may differ due to rounding.



REG G RECONCILIATIONS

CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019		2018		2017
Total debt (A)	19,885		18,133		16,677
Less securitization debt (B)	298		424		545
Total debt, excluding securitization debt (A-B)	19,587		17,709		16,132
Less cash and cash equivalents (C)	426		481		781
Net debt, excluding securitization debt (A-B-C)	19,161		17,228		15,351
Total capitalization (D)	30,363		27,196		24,867
Less securitization debt (E)	298		424		545
Total capitalization, excluding securitization debt (D-E)	30,065		26,772		24,322
Less cash and cash equivalents (F)	426		481		781
Net capitalization, excluding securitization debt (D-E-F)	29,639		26,291		23,541
(%)
Debt to capital (A/D)	65.5		66.7		67.1
Debt to capital, excluding securitization debt ((A-B)/D-E))	65.1		66.1		66.3
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F))	64.6		65.5		65.2

Revolver capacity (G)	3,810		4,056		4,174

Gross liquidity (C+G)	4,236		4,537		4,955

Entergy Corporation notes:
Due September 2020	450		450		450
Due July 2022	650		650		650
Due September 2026	750		750		750
Total parent long-term debt (H)	1,850		1,850		1,850
Revolver draw (I)	440		220		210
Commercial paper (J)	1,947		1,942		1,467
Unamortized debt issuance and discounts (K)	(8	)	(10	)	(11	)
Total parent debt (H)+(I)+(J)+(K)	4,229		4,002		3,516

Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B)	21.6		22.6		21.8
Calculations may differ due to rounding.



REG G RECONCILIATIONS
1Q18-4Q19

($ millions)	1Q19		2Q19		3Q19		4Q19		1Q18		2Q18		3Q18		4Q18
Total debt (A)	19,325		19,054		19,441		19,885		17,680		17,881		18,485		18,133
Less securitization debt (B)	398		360		338		298		520		483		463		424
Total debt, excluding securitization debt (A-B)	18,927		18,694		19,103		19,587		17,160		17,398		18,022		17,709
Less cash and cash equivalents (C)	983		636		956		426		1,206		813		988		481
Net debt, excluding securitization debt (A-B-C)	17,994		18,058		18,147		19,161		15,954		16,585		17,034		17,228
Total capitalization (D)	28,515		29,071		29,730		30,363		25,853		26,102		27,095		27,196
Less securitization debt (E)	398		360		338		298		520		483		463		424
Total capitalization, excluding securitization debt (D-E)	28,117		28,711		29,392		30,065		25,333		25,619		26,632		26,772
Less cash and cash equivalents (F)	983		636		956		426		1,206		813		988		481
Net capitalization, excluding securitization debt (D-E-F)	27,134		28,075		28,436		29,639		24,127		24,806		25,644		26,291
(%)
Debt to capital (A/D)	67.8		65.5		65.4		65.5		68.4		68.5		68.2		66.7
Debt to capital, excluding securitization debt ((A-B)/D-E))	67.3		65.1		65.0		65.1		67.7		67.9		67.7		66.1
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F))	66.1		64.3		63.8		64.6		66.1		66.9		66.4		65.5

Revolver capacity (G)	3,950		4,120		4,115		3,810		3,010		3,885		3,653		4,056

Gross liquidity (C+G)	4,933		4,756		5,071		4,236		4,216		4,698		4,641		4,537

Entergy Corporation notes:
Due September 2020	450		450		450		450		450		450		450		450
Due July 2022	650		650		650		650		650		650		650		650
Due September 2026	750		750		750		750		750		750		750		750
Total parent long-term debt (H)	1,850		1,850		1,850		1,850		1,850		1,850		1,850		1,850
Revolver draw (I)	320		150		155		440		1,125		390		630		220
Commercial paper (J)	1,942		1,635		1,918		1,947		655		1,945		1,947		1,942
Unamortized debt issuance and discounts (K)	(9	)	(9	)	(10	)	(8	)	(11	)	(11	)	(10	)	(10	)
Total parent debt (H)+(I)+(J)+(K)	4,103		3,626		3,913		4,229		3,619		4,174		4,417		4,002

Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B)	21.7		19.4		20.5		21.6		21.1		24		24.5		22.6
Calculations may differ due to rounding.



REG G RECONCILIATIONS

CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019		2018		2017
Total debt (A)	19,885		18,133		16,677
Less securitization debt (B)	298		424		545
Total debt, excluding securitization debt (C)	19,587		17,709		16,132

Net cash flow provided by operating activities, rolling 12 months (D)	2,817		2,385		2,624
Allowance for borrowed funds used during construction, rolling 12 months (E)	(65	)	(61	)	(45	)
Working capital items in net cash flow provided by operating activities, rolling 12 months:
Receivables	(101	)	99		(98	)
Fuel inventory	(28	)	46		(3	)
Accounts payable	(72	)	97		102
Taxes accrued	(21	)	39		34
Interest accrued	1		5		1
Other working capital accounts	(3	)	(164	)	(4	)
Securitization regulatory charges	122		124		116
Total (F)	(102	)	246		148
FFO, rolling 12 months (G) = (D)+(E)-(F)	2,854		2,078		2,431
FFO to debt, excluding securitization debt (G)/(C)	14.6	%	11.7	%	15.1	%
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H)	301		592		—
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I)	141		43		100
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC [(G+H+I)/(C)]	16.8	%	15.3	%	15.7	%
Calculations may differ due to rounding.



REG G RECONCILIATIONS

CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q18-4Q19

($ millions)	1Q19		2Q19		3Q19		4Q19		1Q18		2Q18		3Q18		4Q18
Total debt (A)	19,325		19,054		19,441		19,885		17,680		17,881		18,485		18,133
Less securitization debt (B)	398		360		338		298		520		483		463		424
Total debt, excluding securitization debt (C)	18,927		18,694		19,103		19,587		17,160		17,398		18,022		17,709

Net cash flow provided by operating activities, rolling 12 months (D)	2,329		2,358		2,644		2,817		2,652		2,884		2,770		2,385
Allowance for borrowed funds used during construction, rolling 12 months (E)	(65	)	(67	)	(67	)	(65	)	(49	)	(53	)	(57	)	(61	)
Working capital items in net cash flow provided by operating activities, rolling 12 months:
Receivables	7		17		21		(101	)	(123	)	(149	)	(53	)	99
Fuel inventory	58		24		(18	)	(28	)	(26	)	(1	)	26		46
Accounts payable	103		(19	)	(158	)	(72	)	81		190		258		97
Prepaid taxes and taxes accrued	51		9		(7	)	(21	)	36		28		10		39
Interest accrued	(5	)	7		12		1		5		3		(3	)	5
Other working capital accounts	(178	)	(81	)	(97	)	(3	)	(25	)	(48	)	(9	)	(164	)
Securitization regulatory charges	121		121		120		122		121		123		125		124
Total (F)	157		78		(127	)	(102	)	69		146		354		246
FFO, rolling 12 months (G) = (D)+(E)-(F)	2,107		2,213		2,704		2,854		2,534		2,685		2,359		2,078
FFO to debt, excluding securitization debt (G)/(C)	11.1	%	11.8	%	14.2	%	14.6	%	14.8	%	15.4	%	13.1	%	11.7	%
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H)	692		651		469		301		—		76		342		592
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I)	43		97		183		141		100		—		—		43
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC [(G+H+I)/(C)]	15	%	15.8	%	17.6	%	16.8	%	15.3	%	15.9	%	15	%	15.3	%
Calculations may differ due to rounding.



REG G RECONCILIATIONS

UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019	2018		2017
As-reported net income (loss) applicable to common stock/equity (A)	1,411	1,483		762
Preferred dividends	15	12		12
Tax-effected interest expense	439	412		337
As-reported net income (loss) applicable to common stock/equity adjusted for
preferred dividends and tax-effected interest expense (B)	1,865	1,907		1,110

Utility adjustments
Regulatory-sharing	—	(40	)	56
Income tax effect on Utility adjustments above	—	10		(14	)
2012/2013 IRS audit settlement	—	44		—
Internal restructuring	—	170		—
Tax reform	—	38		(222	)
Reversal of valuation allowance on internal restructuring	41	—		—
Total adjustments (C)	41	223		(181	)

Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	1,824	1,684		1,291
Adjusted earnings (A-C)	1,370	1,261		942

Average invested capital (D)	28,186	25,487		23,601
Average common stock or member's equity (E)	13,219	11,778		10,721

Gross debt (F)	15,517	13,991		13,059
Less securitization debt (G)	298	424		545
Gross debt, excluding securitization debt (F-G)	15,219	13,567		12,514
Less cash and cash equivalents (H)	202	260		544
Net debt, excluding securitization debt (F-G-H)	15,018	13,307		11,969

Total capitalization (I)	29,631	26,740		24,234
Less securitization debt (J)	298	424		545
Total capitalization, excluding securitization debt (I-J)	29,333	26,317		23,689
Less cash and cash equivalents (K)	202	260		544
Net capitalization, excluding securitization debt (I-J-K)	29,131	26,057		23,144

(%)
ROIC – As-Reported (B/D)	6.6	7.5		4.7
ROIC – Adjusted ((B-C)/D)	6.5	6.6		5.5
ROE – As-Reported (A/E)	10.7	12.6		7.1
ROE – Adjusted ((A-C)/E)	10.4	10.7		8.8
Debt to capital (F/I)	52.4	52.3		53.9
Debt to capital, excluding securitization debt ((F-G)/(I-J))	51.9	51.6		52.8
Net debt to net capital, excluding securitization debt ((F-G-H)/(I-J-K))	51.6	51.1		51.7
Calculations may differ due to rounding.



REG G RECONCILIATIONS

UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q18-4Q19

($ millions)	1Q19	2Q19	3Q19	4Q19	1Q18		2Q18		3Q18		4Q18
As-reported net income (loss) (A)	231	331	578	271	215		376		505		388
Less adjustments (B)	—	—	—	41	—		44		—		179
Adjusted net income (loss) (A-B)	231	331	578	230	215		332		505		209

As-reported net income (loss) applicable to common stock/equity-rolling 12 months (C)	1,499	1,455	1,528	1,411	812		944		1,048		1,483
Preferred dividends	12	13	14	15	12		12		12		12
Tax-effected interest expense	416	421	428	439	409		413		415		412
As-Reported net income (loss) applicable to common stock/equity, rolling
12 months adjusted for preferred dividends and tax-effected	1,927	1,888	1,970	1,865	1,233		1,369		1,474		1,907
interest expense (D)

Adjustments in prior quarters	223	179	179	—	(181	)	(181	)	(137	)	44
Adjustments in current quarter	—	—	—	41	—		44		—		179
Total adjustments (E)	223	179	179	41	(181	)	(137	)	(137	)	223

Adjusted earnings, rolling 12 months adjusted for preferred
dividends and tax-effected interest expense (D-E)	1,705	1,709	1,791	1,824	1,413		1,505		1,611		1,684
Adjusted earnings, rolling 12 months (C-E)	1,276	1,276	1,349	1,370	993		1,081		1,185		1,261

Average invested capital (F)	26,617	26,903	27,728	28,186	24,193		24,745		25,247		25,487
Average common stock or member's equity (G)	11,920	12,297	12,864	13,219	10,844		11,266		11,660		11,778

Gross debt (H)	15,083	15,244	15,387	15,517	13,943		13,600		13,937		13,991
Less securitization debt (I)	398	360	338	298	520		483		463		424
Gross debt, excluding securitization debt (H-I)	14,685	14,883	15,049	15,219	13,423		13,116		13,474		13,567
Less cash and cash equivalents (J)	733	337	667	202	946		623		808		260
Net debt, excluding securitization debt (H-I-J)	13,952	14,546	14,382	15,018	12,477		12,493		12,666		13,307

Total capitalization (K)	27,986	28,238	29,056	29,631	25,248		25,567		26,400		26,740
Less securitization debt (L)	398	360	338	298	520		483		463		424
Total capitalization, excluding securitization debt (K-L)	27,588	27,878	28,717	29,333	24,728		25,084		25,937		26,317
Less cash and cash equivalents (M)	733	337	667	202	946		623		808		260
Net capitalization, excluding securitization debt (K-L-M)	26,855	27,540	28,050	29,131	23,782		24,460		25,129		26,057

(%)
ROIC – As-Reported (D/F)	7.2	7.0	7.1	6.6	5.1		5.5		5.8		7.5
ROIC – Adjusted ((D-E)/F)	6.4	6.4	6.5	6.5	5.8		6.1		6.4		6.6
ROE – As-Reported (C/G)	12.6	11.8	11.9	10.7	7.5		8.4		9.0		12.6
ROE – Adjusted ((C-E)/G)	10.7	10.4	10.5	10.4	9.2		9.6		10.2		10.7
Debt to capital ratio (H/K)	53.9	54.0	53.0	52.4	55.2		53.2		52.8		52.3
Debt to capital, excluding securitization debt ((H-I)/(K-L))	53.2	53.4	52.4	51.9	54.3		52.3		51.9		51.6
Net debt to net capital, excluding securitization debt ((H-I-J)/(K-L-M))	52.0	52.8	51.3	51.6	52.5		51.1		50.4		51.1
Calculations may differ due to rounding.



REG G RECONCILIATIONS

ENTERGY ARKANSAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES

($ millions)	2019	2018		2017
As-reported earnings applicable to common stock (A)	263	252		138
Preferred dividends	—	1		1
Tax-effected interest expense	99	86		70
As-reported earnings applicable to common stock adjusted for
preferred dividends and tax-effected interest expense (B)	362	339		210

Adjustments
Tax reform	—	—		3
2012/2013 IRS audit settlement	—	(2	)	—
Total adjustments (C)	—	(2	)	3

Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	362	341		206
Adjusted earnings (A-C)	263	254		135
Average invested capital (D)	6,432	5,810		5,263
Average invested capital, excluding securitization (E)	6,418	5,782		5,221
Average member's equity (F)	3,055	2,680		2,315

Gross debt (G)	3,528	3,226		3,002
Less securitization debt (H)	7	21		35
Gross debt, excluding securitization debt (G-H)	3,522	3,205		2,968
Less cash and cash equivalents (I)	3	—		6
Net debt, excluding securitization debt (G-H-I)	3,518	3,205		2,961

Total capitalization (J)	6,654	6,209		5,410
Less securitization debt (K)	7	21		35
Total capitalization, excluding securitization debt (J-K)	6,647	6,188		5,375
Less cash and cash equivalents (L)	3	—		6
Net capitalization, excluding securitization debt (J-K-L)	6,644	6,188		5,369

(%)
ROIC – As-Reported (B/D)	5.6	5.8		4.0
ROIC – Adjusted ((B-C)/E)	5.6	5.9		4.0
Return on average member's equity – As-Reported (A/F)	8.6	9.4		6.0
Return on average member's equity – Adjusted ((A-C)/F)	8.6	9.5		5.8
Debt to capital (G/J)	53.0	52.0		55.5
Debt to capital, excluding securitization debt ((G-H)/(J-K))	53.0	51.8		55.2
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L))	53.0	51.8		55.2
Calculations may differ due to rounding.



REG G RECONCILIATIONS

ENTERGY LOUISIANA FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019	2018	2017
As-reported net income (A)	692	676	316
Preferred dividends	—	—	—
Tax-effected interest expense	203	184	154
As-reported net income adjusted for preferred dividends and
tax-effected interest expense (B)	894	860	470

Adjustments
IRS audit items	—	—	—
Regulatory sharing	—	—	56
Income tax effect on regulatory sharing	—	—	(14	)
Tax reform	—	—	(224	)
2012/2013 IRS audit settlement	—	50	—
Total Adjustments (C)	—	50	(183	)

Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	894	810	653
Adjusted earnings (A-C)	692	626	499
Average invested capital (D)	13,213	12,103	11,197
Average invested capital, excluding securitization (E)	13,169	12,036	11,109
Average common equity (F)	6,150	5,606	5,195

Gross debt (G)	7,321	6,806	6,188
Less securitization debt (H)	33	56	78
Gross debt, excluding securitization debt (G-H)	7,288	6,750	6,110
Less cash and cash equivalents (I)	2	43	36
Net debt, excluding securitization debt (G-H-I)	7,286	6,707	6,074

Total capitalization (J)	13,718	12,709	11,496
Less securitization debt (K)	33	56	78
Total capitalization, excluding securitization debt (J-K)	13,685	12,653	11,419
Less cash and cash equivalents (L)	2	43	36
Net capitalization, excluding securitization debt (J-K-L)	13,683	12,610	11,383

(%)
ROIC – As-Reported (B/D)	6.8	7.1	4.2
ROIC – Adjusted ((B-C)/E)	6.8	6.7	5.9
Return on average member's equity – As-Reported (A/F)	11.3	12.1	6.1
Return on average member's equity – Adjusted ((A-C)/F)	11.3	11.2	9.6
Debt to capital (G/J)	53.4	53.6	53.8
Debt to capital ratio, excluding securitization debt ((G-H)/(J-K))	53.3	53.3	53.5
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L))	53.2	53.2	53.4
Calculations may differ due to rounding.



REG G RECONCILIATIONS

ENTERGY MISSISSIPPI FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019	2018		2017
As-reported earnings applicable to common stock (A)	120	125		109
Preferred dividends	—	1		1
Tax-effected interest expense	44	39		29
As-reported earnings applicable to common stock adjusted for preferred
dividends and tax-effected interest expense (B)	164	165		139

Adjustments
Tax reform	—	—		(3	)
2012/2013 IRS audit settlement	—	(1	)	—
Total Adjustments (C)	—	(1	)	(3	)

Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	164	166		143
Adjusted earnings (A-C)	120	126		113
Average invested capital (D)	2,891	2,543		2,352
Average member's equity (E)	1,417	1,235		1,136

Gross debt (F)	1,621	1,326		1,270
Less cash and cash equivalents (G)	52	37		6
Net debt (F-G)	1,569	1,289		1,264

Total capitalization (H)	3,163	2,618		2,468
Less cash and cash equivalents (I)	52	37		6
Net capitalization (H-I)	3,111	2,581		2,462

(%)
ROIC – As-Reported (B/D)	5.7	6.5		5.9
ROIC – Adjusted ((B-C)/D)	5.7	6.5		6.1
Return on average member's equity – As-Reported (A/E)	8.5	10.1		9.6
Return on average member's equity – Adjusted ((A-C)/E)	8.5	10.2		9.9
Debt to capital (F/H)	51.2	50.6		51.5
Net debt to net capital ((F-G)/(H-I))	50.4	49.9		51.3
Calculations may differ due to rounding.



ENTERGY NEW ORLEANS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019	2018	2017
As-reported earnings applicable to common stock (A)	53.0	53.0	44.0
Preferred dividends	—	—	1.0
Tax-effected interest expense	15.0	15.0	13.0
As-reported earnings applicable to common stock adjusted for preferred
dividends and tax-effected interest expense (B)	68.0	68.0	57.0

Adjustments
Tax reform	—	—	(6.0	)
2012/2013 IRS audit settlement	—	—	—
Total Adjustments (C)	—	—	(6.0	)

Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	68	68	63
Adjusted earnings (A-C)	53	53	50
Average invested capital (D)	995	891	874
Average invested capital, excluding securitization (E)	937	822	794
Average member's equity (F)	471	430	421

Gross debt (G)	564	484	437
Less securitization debt (H)	53	64	74
Gross debt, excluding securitization debt (G-H)	511	420	362
Less cash and cash equivalents (I)	6	20	33
Net debt, excluding securitization debt (G-H-I)	505	400	330

Total capitalization (J)	1,062	929	852
Less securitization debt (K)	53	64	74
Total capitalization, excluding securitization debt (J-K)	1,009	865	778
Less cash and cash equivalents (L)	6	20	33
Net capitalization, excluding securitization debt (J-K-L)	1,003	845	745

(%)
ROIC – As-Reported (B/D)	6.8	7.6	6.5
ROIC – Adjusted ((B-C)/E)	7.2	8.2	8.0
Return on average member's equity – As-Reported (A/F)	11.3	12.4	10.4
Return on average member's equity – Adjusted ((A-C)/F)	11.3	12.4	11.8
Debt to capital (G/J)	53.1	52.1	51.3
Debt to capital, excluding securitization debt ((G-H)/(J-K))	50.7	48.6	46.5
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L))	50.4	47.4	44.2
Calculations may differ due to rounding.



REG G RECONCILIATIONS

ENTERGY TEXAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019	2018		2017
As-reported earnings applicable to common stock (A)	159	162		76
Preferred dividends	1	—		—
Tax-effected interest expense	58	65		51
As-reported earnings applicable to common stock adjusted for preferred
dividends and tax-effected interest expense (B)	217	227		127

Adjustments
IRS audit items	—	—		—
Tax reform	—	38		(3	)
2012/2013 IRS audit settlement	—	(1	)	—
Total Adjustments (C)	—	37		(3	)

Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	217	189		130
Adjusted earnings (A-C)	159	125		79
Average invested capital (D)	3,332	2,892		2,712
Average invested capital, excluding securitization debt (E)	3,087	2,571		2,319
Average common equity (F)	1,593	1,341		1,165

Gross debt (G)	1,928	1,514		1,587
Less securitization debt (H)	205	284		358
Gross debt, excluding securitization debt (G-H)	1,723	1,230		1,229
Less cash and cash equivalents (I)	13	—		116
Net debt, excluding securitization debt (G-H-I)	1,710	1,230		1,114

Total capitalization (J)	3,728	2,936		2,847
Less securitization debt (K)	205	284		358
Total capitalization, excluding securitization debt (J-K)	3,522	2,652		2,489
Less cash and cash equivalents (L)	13	—		116
Net capitalization, excluding securitization debt (J-K-L)	3,509	2,652		2,374

(%)
ROIC – As-Reported (B/D)	6.5	7.8		4.7
ROIC – Adjusted ((B-C)/E)	7.0	7.4		5.6
ROE – As-Reported (A/F)	10.0	12.1		6.5
ROE – Adjusted ((A-C)/F)	10.0	9.3		6.8
Debt to capital (G/J)	51.7	51.6		55.7
Debt to capital, excluding securitization debt ((G-H)/(J-K))	48.9	46.4		49.4
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L))	48.7	46.4		46.9
Calculations may differ due to rounding.



REG G RECONCILIATIONS

SYSTEM ENERGY RESOURCES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019	2018	2017
As-reported net income (A)	99	94	79
Preferred dividends	—	—	—
Tax-effected interest expense	25	27	22
As-reported net income adjusted for preferred
dividends and tax-effected interest expense (B)	124	121	101

Adjustments
Tax reform	—	—	—
2012/2013 IRS audit settlement	—	—	—
Total Adjustments (C)	—	—	—

Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	124	121	101
Adjusted earnings (A-C)	99	94	79
Average invested capital (D)	1,314	1,324	1,318
Average common equity (E)	725	724	725

Gross debt (F)	548	631	569
Less cash and cash equivalents (G)	69	96	287
Net debt (F-G)	479	535	282

Total capitalization (H)	1,260	1,368	1,280
Less cash and cash equivalents (I)	69	96	287
Net capitalization (H-I)	1,191	1,272	993

(%)
ROIC – As-Reported (B/D)	9.4	9.2	7.6
ROIC – Adjusted ((B-C)/D)	9.4	9.2	7.6
ROE – As-Reported (A/E)	13.7	13.0	10.8
ROE – Adjusted ((A-C)/E)	13.7	13.0	10.8
Debt to capital (F/H)	43.5	46.1	44.5
Net debt to net capital ((F-G)/(H-I))	40.2	42.1	28.5
Calculations may differ due to rounding.



REG G RECONCILIATIONS

ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2017-2019

($ millions)	2019		2018		2017
As-reported net income (loss) attributable to Entergy Corporation	147		(343	)	(175	)

Net income (loss)	149		(341	)	(172	)
Add back: interest expense	29		34		24
Add back: income taxes	(161	)	(269	)	(146	)
Add back: depreciation and amortization	148		150		193
Subtract: interest and investment income	415		15		224
Add back: decommissioning expense	237		239		255
Adjusted EBITDA	(13	)	(202	)	(71	)
Calculations may differ due to rounding.



ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q18-4Q19

($ millions)	1Q19	2Q19		3Q19		4Q19		1Q18		2Q18		3Q18		4Q18
As-reported net income (loss) attributable to Entergy Corporation	97	(26	)	(141	)	217		(18	)	(57	)	105		(373	)

Net income (loss)	97	(25	)	(141	)	218		(18	)	(56	)	106		(372	)
Add back: interest expense	9	9		6		5		8		8		9		8
Add back: income taxes	66	(9	)	(31	)	(187	)	(1	)	(30	)	(136	)	(102	)
Add back: depreciation and amortization	38	38		38		34		38		39		40		34
Subtract: interest and investment income	181	75		59		99		(1	)	58		127		(169	)
Add back: decommissioning expense	63	64		60		49		58		60		56		64
Adjusted EBITDA	92	2		(127	)	20		86		(37	)	(52	)	(199	)
Calculations may differ due to rounding.



ENTERGY CORPORATION AND SUBSIDIARIES

INVESTOR NEWS	COMMON STOCK INFORMATION
Visit our investor relations website at www.entergy.com/investor_relations for	The company’s common stock is listed on the New York and Chicago
earnings reports, financial releases, SEC filings and other investor information.	exchanges under the symbol “ETR” (CUSIP 29364G103). The Entergy
	share price is reported daily in the financial press under “Entergy” in
INVESTOR RELATIONS	most listings of New York Stock Exchange securities. Entergy common
Securities analysts, portfolio managers, and other members of the financial	stock is a component of the following indices: S&P 500, S&P Utilities
community may contact:	Index, Philadelphia Utility Index and the NYSE Composite Index,
David Borde	among others.
Vice President, Investor Relations
Telephone: 504-576-5668	As of Jan. 31, 2020, there were 190,726,738 shares of Entergy
E–mail: dborde@entergy.com	common stock outstanding. Shareholders of record totaled
	23,696, and approximately 283,538 investors held Entergy stock in
SHAREHOLDER ACCOUNT INFORMATION	“street name” through a broker.
EQ Shareowner Services is Entergy’s transfer agent,
registrar, dividend disbursing agent, and dividend reinvestment	CERTIFICATIONS
and stock purchase plan agent. Shareholders of record with	In May 2019, Entergy’s Chief Executive Officer certified to the
questions about lost certificates, lost or missing dividend checks	New York Stock Exchange that he was not aware of any violation
or notifications of change of address should contact:	of the NYSE corporate governance listing standards. Also, Entergy
EQ Shareowner Services	filed certifications regarding the quality of the company’s public
P.O. Box 64874	disclosure, required by Section 302 of the Sarbanes-Oxley Act of
St. Paul, MN 55164-0874	2002, as exhibits to our Annual Report on Form 10-K for the fiscal year
Phone: 1-855-854-1360	ended Dec. 31, 2019.
Internet: www.shareowneronline.com
	DIVIDEND PAYMENTS
CORPORATE GOVERNANCE	The Board of Directors declares dividends quarterly and sets the record and
Entergy’s Corporate Governance Guidelines, Board Committee Charters	payment dates. Subject to Board discretion, those dates for 2020 are:
for the Audit, Corporate Governance, and Personnel Committees, Entergy's
Code of Entegrity and other ethics policies may be accessed electronically	DECLARATION DATE		RECORD DATE		PAYMENT DATE
by selecting the investor information page on Entergy’s corporate	February 1			February 14	March 1
website at entergy.com.	April 8			May 7	June 1
	July 31			August 13	September 1
ADDITIONAL INFORMATION	October 30			November 12	December 1
For copies of the above Corporate Governance documents, Entergy’s
10-K and 10-Q reports filed with the Securities and Exchange	Quarterly dividend payments (in cents-per-share):
Commission, or for other investor information, email amichel@entergy.com.
	QUARTER	2019	2018	2017
	1	91	89	87
	2	91	89	87
	3	91	89	87
	4	93	91	89

SECURITIES RATINGS (OUTLOOK)

ISSUER RATING

CORPORATE CREDIT

As of 12/31/19

Entergy Corporation

Baa2 (stable)

BBB+ (stable)