Equity (Tables)

6 Months Ended

Jun. 30, 2023

Schedule Of Earnings Per Share Basic And Diluted

The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements:

	For the Three Months Ended June 30,
	2023			2022
	(In Millions, Except Per Share Data)
	Income	Shares	$/share	Income	Shares	$/share
Basic earnings per share
Net income attributable to Entergy Corporation	$391.2	211.4	$1.85	$159.7	203.4	$0.79
Average dilutive effect of:
Stock options		0.3	—		0.5	(0.01)
Other equity plans		0.5	(0.01)		0.5	—
Equity forwards		—	—		0.3	—
Diluted earnings per share	$391.2	212.2	$1.84	$159.7	204.7	$0.78

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 1.2 million for the three months ended June 30, 2023 and approximately 0.9 million for the three months ended June 30, 2022.

The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements:

	For the Six Months Ended June 30,
	2023			2022
	(In Millions, Except Per Share Data)
	Income	Shares	$/share	Income	Shares	$/share
Basic earnings per share
Net income attributable to Entergy Corporation	$702.2	211.4	$3.32	$436.1	203.2	$2.15
Average dilutive effect of:
Stock options		0.3	—		0.5	(0.01)
Other equity plans		0.5	(0.01)		0.4	(0.01)
Equity forwards		—	—		0.2	—
Diluted earnings per share	$702.2	212.2	$3.31	$436.1	204.3	$2.13

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 1.1 million for the six months ended June 30, 2023 and approximately 0.9 million for the six months ended June 30, 2022.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended June 30, 2023:

	Pension and Other Postretirement Liabilities
	(In Thousands)
Beginning balance, April 1, 2023	($189,727)
Amounts reclassified from accumulated other comprehensive income (loss)	(3,292)
Net other comprehensive income (loss) for the period	(3,292)
Ending balance, June 30, 2023	($193,019)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended June 30, 2022 by component:

	Cash flow hedges net unrealized gain (loss)	Pension and other postretirement liabilities	Net unrealized investment gain (loss)	Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, April 1, 2022	($1,011)	($330,319)	($5,248)	($336,578)
Other comprehensive income (loss) before reclassifications	(14)	—	4,101	4,087
Amounts reclassified from accumulated other comprehensive income	38	6,045	2,370	8,453
Net other comprehensive income (loss) for the period	24	6,045	6,471	12,540
Ending balance, June 30, 2022	($987)	($324,274)	$1,223	($324,038)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the six months ended June 30, 2023:

	Pension and Other Postretirement Liabilities
	(In Thousands)
Beginning balance, January 1, 2023	($191,754)
Amounts reclassified from accumulated other comprehensive income (loss)	(1,265)
Net other comprehensive income (loss) for the period	(1,265)
Ending balance, June 30, 2023	($193,019)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the six months ended June 30, 2022 by component:

	Cash flow hedges net unrealized gain (loss)	Pension and other postretirement liabilities	Net unrealized investment gain (loss)	Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2022	($1,035)	($338,647)	$7,154	($332,528)
Other comprehensive income (loss) before reclassifications	(29)	—	(11,774)	(11,803)
Amounts reclassified from accumulated other comprehensive income (loss)	77	14,373	5,843	20,293
Net other comprehensive income (loss) for the period	48	14,373	(5,931)	8,490
Ending balance, June 30, 2022	($987)	($324,274)	$1,223	($324,038)

Reclassification out of Accumulated Other Comprehensive Income

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the three months ended June 30, 2023 and 2022 were as follows:

	Amounts reclassified from AOCI		Income Statement Location
	2023	2022
	(In Thousands)
Cash flow hedges net unrealized loss
Interest rate swaps	$—	($48)	Miscellaneous - net
Total realized loss on cash flow hedges	—	(48)
Income taxes	—	10	Income taxes
Total realized loss on cash flow hedges (net of tax)	$—	($38)
Pension and other postretirement liabilities
Amortization of prior-service credit	$3,398	$3,837	(a)
Amortization of net gain (loss)	1,633	(10,979)	(a)
Settlement loss	(674)	(545)	(a)
Total amortization and settlement loss	4,357	(7,687)
Income taxes	(1,065)	1,642	Income taxes
Total amortization and settlement loss (net of tax)	$3,292	($6,045)
Net unrealized investment loss
Realized loss	$—	($3,750)	Interest and investment income
Income taxes	—	1,380	Income taxes
Total realized investment loss (net of tax)	$—	($2,370)
Total reclassifications for the period (net of tax)	$3,292	($8,453)

(a)These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the six months ended June 30, 2023 and 2022 were as follows:

	Amounts reclassified from AOCI		Income Statement Location
	2023	2022
	(In Thousands)
Cash flow hedges net unrealized loss
Interest rate swaps	$—	($97)	Miscellaneous - net
Total realized loss on cash flow hedges	—	(97)
Income taxes	—	20	Income taxes
Total realized loss on cash flow hedges (net of tax)	$—	($77)
Pension and other postretirement liabilities
Amortization of prior-service credit	$6,795	$7,674	(a)
Amortization of net gain (loss)	3,295	(24,904)	(a)
Settlement loss	(8,490)	(1,327)	(a)
Total amortization and settlement loss	1,600	(18,557)
Income taxes	(335)	4,184	Income taxes
Total amortization and settlement loss (net of tax)	$1,265	($14,373)
Net unrealized investment loss
Realized loss	$—	($9,245)	Interest and investment income
Income taxes	—	3,402	Income taxes
Total realized investment loss (net of tax)	$—	($5,843)
Total reclassifications for the period (net of tax)	$1,265	($20,293)

(a)These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Entergy Louisiana [Member]

Schedule of noncontrolling interest

The dollar value of noncontrolling interests for Entergy Louisiana as of June 30, 2023 and December 31, 2022 is presented below:

	2023	2022
	(In Thousands)
Entergy Louisiana Noncontrolling Interests
Restoration Law Trust I (a)	$32,359	$31,735
Restoration Law Trust II (b)	14,856	—
Total Noncontrolling Interests	$47,215	$31,735

(a)See Note 12 to the financial statements herein and Note 17 to the financial statements in the Form 10-K for discussion of Restoration Law Trust I.

(b)Restoration Law Trust II (the storm trust II) was established as part of the Act 293 securitization of Entergy Louisiana’s Hurricane Ida storm restoration costs in March 2023. The storm trust II holds preferred membership interests issued by Entergy Finance Company, and Entergy Finance Company is required to make annual distributions (dividends) on the preferred membership interests. These annual dividends paid on the Entergy Finance Company preferred membership interests will be distributed 1% to the LURC and 99% to Entergy Louisiana. Entergy Louisiana, as the primary beneficiary, consolidates the storm trust II and the LURC’s 1% beneficial interest in noncontrolling interests in the consolidated financial statements for Entergy Louisiana and Entergy. See Note 2 to the financial statements herein for a discussion of the Entergy Louisiana March 2023 storm cost securitization.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended June 30, 2023 and 2022:

	Pension and Other Postretirement Liabilities
	2023	2022
	(In Thousands)
Beginning balance, April 1,	$54,584	$7,665
Amounts reclassified from accumulated other comprehensive income (loss)	(1,773)	(491)
Net other comprehensive income (loss) for the period	(1,773)	(491)
Ending balance, June 30,	$52,811	$7,174

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the six months ended June 30, 2023 and 2022:

	Pension and Other Postretirement Liabilities
	2023	2022
	(In Thousands)
Beginning balance, January 1,	$55,370	$8,278
Amounts reclassified from accumulated other comprehensive income (loss)	(2,559)	(1,104)
Net other comprehensive income (loss) for the period	(2,559)	(1,104)
Ending balance, June 30,	$52,811	$7,174

Reclassification out of Accumulated Other Comprehensive Income

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the three months ended June 30, 2023 and 2022 were as follows:

	Amounts reclassified from AOCI		Income Statement Location
	2023	2022
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit	$951	$1,158	(a)
Amortization of gain (loss)	1,564	(308)	(a)
Settlement loss	(89)	(178)	(a)
Total amortization and settlement loss	2,426	672
Income taxes	(653)	(181)	Income taxes
Total amortization and settlement loss (net of tax)	1,773	491
Total reclassifications for the period (net of tax)	$1,773	$491

(a)These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost.  See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the six months ended June 30, 2023 and 2022 were as follows:

	Amounts reclassified from AOCI		Income Statement Location
	2023	2022
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit	$1,902	$2,316	(a)
Amortization of gain (loss)	3,129	(627)	(a)
Settlement loss	(1,529)	(178)	(a)
Total amortization and settlement loss	3,502	1,511
Income taxes	(943)	(407)	Income taxes
Total amortization and settlement loss (net of tax)	2,559	1,104
Total reclassifications for the period (net of tax)	$2,559	$1,104

(a)These accumulated other comprehensive income (loss) components were included in the computation of net periodic pension and other postretirement cost.  See Note 6 to the financial statements herein for additional details.