Common Equity

12 Months Ended

Dec. 31, 2011

Equity [Abstract]

COMMON EQUITY

NOTE 7. COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Common Stock

Common stock and treasury stock shares activity for Entergy for 2011, 2010, and 2009 is as follows:

	2011					2010					2009
	Common Shares Issued		Treasury Shares			Common Shares Issued		Treasury Shares			Common Shares Issued		Treasury Shares
Beginning Balance, January 1		254,752,788		76,006,920			254,752,788		65,634,580			248,174,087		58,815,518
Equity Unit Transaction		—		—			—		—			6,578,701		—
Repurchases		—		3,475,000			—		11,490,551			—		7,680,000
Issuances:
Employee Stock-Based Compensation Plans		—		(1,079,008	)		—		(1,113,411	)		—		(856,390	)
Directors’ Plan		—		(5,924	)		—		(4,800	)		—		(4,548	)
Ending Balance, December 31		254,752,788		78,396,988			254,752,788		76,006,920			254,752,788		65,634,580

In December 2005, Entergy Corporation sold 10 million equity units with a stated amount of $50 each. An equity unit consisted of (1) a note, initially due February 2011 and initially bearing interest at an annual rate of 5.75%, and (2) a purchase contract that obligated the holder of the equity unit to purchase for $50 between 0.5705 and 0.7074 shares of Entergy Corporation common stock on or before February 17, 2009. Entergy paid the holders quarterly contract adjustment payments of 1.875% per year on the stated amount of $50 per equity unit. Under the terms of the purchase contracts, Entergy attempted to remarket the notes in February 2009 but was unsuccessful, the note holders put the notes to Entergy, Entergy retired the notes, and Entergy issued shares of common stock to settle the purchase contracts.

Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), two Equity Ownership Plans of Entergy Corporation and Subsidiaries, the Equity Awards Plan of Entergy Corporation and Subsidiaries, and certain other stock benefit plans. The Directors’ Plan awards to non-employee directors a portion of their compensation in the form of a fixed number of shares of Entergy Corporation common stock.

In January 2007, the Board approved a repurchase program that authorized Entergy to repurchase up to $1.5 billion of its common stock. In January 2008, the Board authorized an incremental $500 million share repurchase program to enable Entergy to consider opportunistic purchases in response to equity market conditions. Entergy completed both the $1.5 billion and $500 million programs in the third quarter 2009. In October 2009, the Board granted authority for an additional $750 million share repurchase program which was completed in the fourth quarter 2010. In October 2010, the Board granted authority for an additional $500 million share repurchase program. As of December 31, 2011, $350 million remains under the $500 million share repurchase program.

Retained Earnings and Dividend Restrictions

Provisions within the articles of incorporation or pertinent indentures and various other agreements relating to the long-term debt and preferred stock of certain of Entergy Corporation’s subsidiaries could restrict the payment of cash dividends or other distributions on their common and preferred equity. As of December 31, 2011, under provisions in their mortgage indentures, Entergy Arkansas and Entergy Mississippi had retained earnings unavailable for distribution to Entergy Corporation of $394.9 million and $68.5 million, respectively. Entergy Corporation received dividend payments from subsidiaries totaling $595 million in 2011, $580 million in 2010, and $417 million in 2009.

Comprehensive Income

Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy, Entergy Gulf States Louisiana, and Entergy Louisiana. Accumulated other comprehensive income (loss) in the balance sheets included the following components:

	Entergy						Entergy Gulf States Louisiana						Entergy Louisiana
	December 31, 2011			December 31, 2010			December 31, 2011			December 31, 2010			December 31, 2011			December 31, 2010
	(In Thousands)
Cash flow hedges net unrealized gain	$	177,497		$	106,258		$	—		$	—		$	—		$	—
Pension and other postretirement liabilities		(499,556	)		(276,466	)		(69,610	)		(40,304	)		(39,507	)		(24,962	)
Net unrealized investment gains		150,939			129,685			—			—			—			—
Foreign currency translation		2,668			2,311			—			—			—			—
Total	($	168,452	)	($	38,212	)	($	69,610	)	($	40,304	)	($	39,507	)	($	24,962	)

Other comprehensive income and total comprehensive income for years ended December 31, 2011, 2010, and 2009 are presented in Entergy’s, Entergy Gulf States Louisiana’s, and Entergy Louisiana’s Statements of Comprehensive Income.