Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Income tax expenses from continuing operations

	2011			2010			2009
	(In Thousands)
Current:
Federal	$	452,713		$	145,161		($	433,105	)
Foreign		130			131			154
State		152,711			19,313			(108,552	)
Total		605,554			164,605			(541,503	)
Deferred and non-current — net		(311,708	)		468,698			1,191,418
Investment tax credit adjustments — net		(7,583	)		(16,064	)		(17,175	)
Income tax expense from continuing operations	$	286,263		$	617,239		$	632,740

Total income taxes for Entergy Corporation and Subsidiaries

	2011			2010			2009
	(In Thousands)
Net income attributable to Entergy Corporation	$	1,346,439		$	1,250,242		$	1,231,092
Preferred dividend requirements of subsidiaries		20,933			20,063			19,958
Consolidated net income		1,367,372			1,270,305			1,251,050
Income taxes		286,263			617,239			632,740
Income before income taxes	$	1,653,635		$	1,887,544		$	1,883,790
Computed at statutory rate (35%)	$	578,772		$	660,640		$	659,327
Increases (reductions) in tax resulting from:
State income taxes net of federal income tax effect		93,940			40,530			65,241
Regulatory differences - utility plant items		39,970			31,473			57,383
Equity component of AFUDC		(30,184	)		(16,542	)		(17,741	)
Amortization of investment tax credits		(14,962	)		(15,980	)		(16,745	)
Net-of-tax regulatory liability (a)		65,357			—			—
Deferred tax reversal on PPA settlement (a)		(421,819	)		—			—
Write-off of reorganization costs		—			(19,974	)		—
Tax law change-Medicare Part D		—			13,616			—
Decommissioning trust fund basis		—			—			(7,917	)
Capital gains / (losses)		—			—			(28,051	)
Flow-through / permanent differences		(17,848	)		(26,370	)		(31,745	)
Provision for uncertain tax positions		2,698			(43,115	)		(17,435	)
Valuation allowance		—			—			(40,795	)
Other - net		(9,661	)		(7,039	)		11,218
Total income taxes as reported	$	286,263		$	617,239		$	632,740
Effective Income Tax Rate		17.3	%		32.7	%		33.6	%

(a) See “Income Tax Audits - 2006-2007 IRS Audit” below for discussion of these items.

Significant components of accumulated deferred income taxes and taxes accrued

	2011			2010
	(In Thousands)
Deferred tax liabilities:
Plant basis differences - net	($	7,349,990	)	($	6,572,627	)
Regulatory asset for income taxes - net		(430,807	)		(449,266	)
Power purchase agreements		(17,138	)		(265,429	)
Nuclear decommissioning trusts		(553,558	)		(439,481	)
Other		(686,006	)		(679,302	)
Total		(9,037,499	)		(8,406,105	)
Deferred tax assets:
Accumulated deferred investment tax credit		108,338			111,170
Pension and other post-employment benefits		315,134			161,730
Nuclear decommissioning liabilities		612,945			285,889
Sale and leaseback		217,430			256,157
Provision for regulatory adjustments		97,607			100,504
Provision for contingencies		28,504			28,554
Unbilled/deferred revenues		12,217			18,642
Customer deposits		14,825			15,724
Net operating loss carryforwards		253,518			123,710
Capital losses		12,995			56,602
Other		96,676			19,009
Valuation allowance		(85,615	)		(70,089	)
Total		1,684,574			1,107,602
Noncurrent accrued taxes (including unrecognized tax benefits)		(814,597	)		(1,261,455	)
Accumulated deferred income taxes and taxes accrued	($	8,167,522	)	($	8,559,958	)

Entergy's estimated tax attributes carryovers and their expiration dates

Carryover Description	Carryover Amount		Year(s) of expiration
Federal net operating losses		$9 billion		2023-2031
State net operating losses		$8 billion		2012-2031
State capital losses		$162 million		2013-2015
Federal minimum tax credits		$79 million		never
Other federal and state credits		$80 million		2012-2031

Reconciliation of unrecognized tax benefits

	2011			2010			2009
	(In Thousands)
Gross balance at January 1	$	4,949,788		$	4,050,491		$	1,825,447
Additions based on tax positions related to the current year		211,966			480,843			2,286,759
Additions for tax positions of prior years		332,744			871,682			697,615
Reductions for tax positions of prior years		(259,895	)		(438,460	)		(372,862	)
Settlements		(841,528	)		(10,462	)		(385,321	)
Lapse of statute of limitations		(5,295	)		(4,306	)		(1,147	)
Gross balance at December 31		4,387,780			4,949,788			4,050,491
Offsets to gross unrecognized tax benefits:
Credit and loss carryovers		(3,212,397	)		(3,771,301	)		(3,349,589	)
Cash paid to taxing authorities		(363,266	)		(373,000	)		(373,000	)
Unrecognized tax benefits net of unused tax attributes and payments (1)	$	812,117		$	805,487		$	327,902

(1) Potential tax liability above what is payable on tax returns