EX-99 5 a22503ex3.htm

Exhibit 3 page 1 of 3

ENTERGY CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

ASSETS

September 30, 2003

(Unaudited)

(In Thousands)

CURRENT ASSETS

-

Cash and cash equivalents:

-

   Cash

$173,799

   Temporary cash investments - at cost,

-

     which approximates market

403,583

   Special deposits

162

     Total cash and cash equivalents

577,544

Other temporary investments

18,818

Notes receivable

2,013

Accounts receivable:

-

   Customer

532,498

    Allowance for doubtful accounts

(23,396)

    Other

249,657

   Accrued unbilled revenues

428,341

        Total receivables

1,187,100

Deferred fuel costs

288,322

Fuel inventory - at average cost

124,568

Materials and supplies - at average cost

552,345

Deferred nuclear refueling outage costs

147,318

Prepayments and other

143,371

TOTAL

3,041,399

OTHER PROPERTY AND INVESTMENTS

-

Investment in affiliates - at equity

1,097,083

Decommissioning trust funds

2,191,590

Non-utility property - at cost (less accumulated depreciation)

238,624

Other

441,581

TOTAL

3,968,878

PROPERTY, PLANT AND EQUIPMENT

-

Electric

27,350,894

Property under capital lease

755,190

Natural gas

219,379

Construction work in progress

1,647,084

Nuclear fuel under capital lease

280,219

Nuclear fuel

251,913

TOTAL PROPERTY, PLANT AND EQUIPMENT

30,504,679

Less - accumulated depreciation and amortization

12,460,124

PROPERTY, PLANT AND EQUIPMENT - NET

18,044,555

DEFERRED DEBITS AND OTHER ASSETS

-

Regulatory assets:

-

   SFAS 109 regulatory asset - net

805,851

   Unamortized loss on reacquired debt

168,205

   Other regulatory assets

1,204,701

Long-term receivables

21,884

Goodwill

377,172

Other

935,185

TOTAL

3,512,998

TOTAL ASSETS

$28,567,830

Exhibit 3 page 2 of 3

ENTERGY CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

LIABILITIES AND SHAREHOLDERS' EQUITY

September 30, 2003

(Unaudited)

(In Thousands)

CURRENT LIABILITIES

-

Currently maturing long-term debt

$570,381

Notes payable

351

Accounts payable

573,259

Customer deposits

207,147

Taxes accrued

451,603

Accumulated deferred income taxes

89,634

Nuclear refueling outage costs

4,987

Interest accrued

160,053

Obligations under capital leases

154,911

Other

140,692

TOTAL

2,353,018

NON-CURRENT LIABILITIES

-

Accumulated deferred income taxes and taxes accrued

4,581,436

Accumulated deferred investment tax credits

425,812

Obligations under capital leases

165,512

Other regulatory liabilities

267,574

Decommissioning

2,149,322

Transition to competition

79,098

Regulatory reserves

46,632

Accumulated provisions

436,464

Long-term debt

7,440,816

Preferred stock with sinking fund

20,877

Company-obligated mandatorily redeemable

-

   preferred securities of subsidiary trusts holding

-

   solely junior subordinated deferrable debentures

215,000

Other

1,280,934

TOTAL

17,109,477

Preferred stock without sinking fund

334,337

SHAREHOLDERS' EQUITY

-

Common stock, $.01 par value, authorized 500,000,000

-

   shares; issued 248,174,087 shares in 2003

2,482

Paid-in capital

4,696,598

Retained earnings

4,644,880

Accumulated other comprehensive loss

(3,765)

Less - treasury stock, at cost (19,678,683 shares in 2003

569,197

TOTAL

8,770,998

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

$28,567,830

Exhibit 3 page 3 of 3

ENTERGY CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF INCOME

For the Nine Months Ended September 30, 2003

(Unaudited)

(In Thousands)

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING REVENUES

 

 

 

 

 

Domestic electric

 

 

 

$5,763,298

 

Natural gas

 

 

 

139,803

 

Competitive businesses

 

 

 

1,188,659

 

TOTAL

 

 

 

7,091,760

 

 

 

 

 

 

 

OPERATING EXPENSES

 

 

 

 

 

Operating and Maintenance:

 

 

 

 

 

   Fuel, fuel-related expenses, and

 

 

 

 

 

     gas purchased for resale

 

 

 

1,480,101

 

   Purchased power

 

 

 

1,338,609

 

   Nuclear refueling outage expenses

 

 

 

119,298

 

   Provision for turbine commitments, asset impairments

 

 

 

 

 

     and restructuring charges

 

 

 

(7,743)

 

   Other operation and maintenance

 

 

 

1,650,380

 

Decommissioning

 

 

 

107,787

 

Taxes other than income taxes

 

 

 

303,601

 

Depreciation and amortization

 

 

 

637,159

 

Other regulatory charges (credits) - net

 

 

 

18,581

 

TOTAL

 

 

 

5,647,773

 

 

 

 

 

 

 

OPERATING INCOME

 

 

 

1,443,987

 

 

 

 

 

 

 

OTHER INCOME

 

 

 

 

 

Allowance for equity funds used during construction

 

 

 

26,962

 

Interest and dividend income

 

 

 

83,792

 

Equity in earnings of unconsolidated equity affiliates

 

 

 

258,451

 

Miscellaneous - net

 

 

 

(83,904)

 

TOTAL

 

 

 

285,301

 

 

 

 

 

 

 

INTEREST AND OTHER CHARGES

 

 

 

 

 

Interest on long-term debt

 

 

 

353,422

 

Other interest - net

 

 

 

42,636

 

Distributions on preferred securities of subsidiaries

 

 

 

14,128

 

Allowance for borrowed funds used during construction

 

 

 

(21,136)

 

TOTAL

 

 

 

389,050

 

 

 

 

 

 

 

INCOME BEFORE INCOME TAXES AND

 

 

 

 

 

CUMULATIVE EFFECT OF ACCOUNTING CHANGES

 1,340,238

 

 

 

 

 

 

 

Income taxes

 

 

 

499,068

 

 

 

 

 

 

 

INCOME BEFORE CUMULATIVE EFFECT

 

 

 

 

 

OF ACCOUNTING CHANGES

 

 

 

841,170

 

 

 

 

 

 

 

CUMULATIVE EFFECT OF ACCOUNTING

 

 

 

 

 

CHANGES (net of income taxes of $93,754)

 

 

 

142,922

 

 

 

 

 

 

 

CONSOLIDATED NET INCOME

 

 

 

984,092

 

 

 

 

 

 

 

Preferred dividend requirements and other

 

 

 

17,669

 

 

 

 

 

 

 

EARNINGS APPLICABLE TO

 

 

 

 

 

COMMON STOCK

 

 

 

$966,423

 

 

 

 

 

 

 

Earnings per average common share before cumulative

 

 

 

 

 

effect of accounting changes:

 

 

 

 

 

   Basic

 

 

 

$3.64

 

   Diluted

 

 

 

$3.57

 

Earnings per average common share:

 

 

 

 

 

   Basic

 

 

 

$4.27

 

   Diluted

 

 

 

$4.19

 

Dividends declared per common share

 

 

 

$1.15

 

 

 

 

 

 

 

Average number of common shares outstanding:

 

 

 

 

 

   Basic

 

 

 

226,145,567

 

   Diluted

 

 

 

230,388,260