8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date earliest event reported) June 28, 2019

Commission File Number	Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, and IRS Employer Identification No.	Commission File Number	Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, and IRS Employer Identification No.
1-11299	ENTERGY CORPORATION (a Delaware corporation) 639 Loyola Avenue New Orleans, Louisiana 70113 Telephone (504) 576-4000 72-1229752	1-35747	ENTERGY NEW ORLEANS, LLC (a Texas limited liability company) 1600 Perdido Street New Orleans, Louisiana 70112 Telephone (504) 670-3700 82-2212934
1-10764	ENTERGY ARKANSAS, LLC. (a Texas limited liability company) 425 West Capitol Avenue Little Rock, Arkansas 72201 Telephone (501) 377-4000 83-1918668	1-34360	ENTERGY TEXAS, INC. (a Texas corporation) 10055 Grogans Mill Road The Woodlands, Texas 77380 Telephone (409) 981-2000 61-1435798
1-32718	ENTERGY LOUISIANA, LLC (a Texas limited liability company) 4809 Jefferson Highway Jefferson, Louisiana 70121 Telephone (504) 576-4000 47-4469646	1-09067	SYSTEM ENERGY RESOURCES, INC. (an Arkansas corporation) 1340 Echelon Parkway Jackson, Mississippi 39213 Telephone (601) 368-5000 72-0752777
1-31508	ENTERGY MISSISSIPPI, LLC (a Texas limited liability company) 308 East Pearl Street Jackson, Mississippi 39201 Telephone (601) 368-5000 83-1950019

____________________________________________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Registrant	Trading Symbol	Title of Class	Name of Each Exchange on Which Registered
Entergy Corporation	ETR	Common Stock, $0.01 Par Value	New York Stock Exchange LLC NYSE Chicago, Inc.
Entergy Arkansas, LLC	EAB	Mortgage Bonds 4.90% Series due December 2052	New York Stock Exchange LLC
	EAE	Mortgage Bonds 4.75% Series due June 2063	New York Stock Exchange LLC
	EAI	Mortgage Bonds 4.875% Series due September 2066	New York Stock Exchange LLC
Entergy Louisiana, LLC	ELJ	Mortgage Bonds 5.25% Series due July 2052	New York Stock Exchange LLC
	ELU	Mortgage Bonds 4.70% Series due June 2063	New York Stock Exchange LLC
	ELC	Mortgage Bonds 4.875% Series due September 2066	New York Stock Exchange LLC
Entergy Mississippi, LLC	EMP	Mortgage Bonds 4.90% Series due October 2066	New York Stock Exchange LLC
Entergy New Orleans, LLC	ENJ	Mortgage Bonds 5.0% Series due December 2052	New York Stock Exchange LLC
	ENO	Mortgage Bonds 5.50% Series due April 2066	New York Stock Exchange LLC
Entergy Texas, Inc.	EZT	Mortgage Bonds 5.625% Series due June 2064	New York Stock Exchange LLC

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

[ ]Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 7.01 Regulation FD Disclosure.

On June 28, 2019, Entergy Corporation published on its website the 2018 Entergy Statistical Report and Investor Guide (the “Investor Guide”). The Investor Guide is a compilation of financial and operating data, financial metrics and other information about Entergy and its subsidiaries. The Investor Guide is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information contained in this Current Report on Form 8-K is being furnished, not filed, pursuant to Regulation FD.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	2018 Entergy Statistical Report and Investor Guide

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Entergy Corporation

Entergy Arkansas, LLC

Entergy Louisiana, LLC

Entergy Mississippi, LLC

Entergy New Orleans, LLC

Entergy Texas, Inc.

System Energy Resources, Inc.

By: /s/ Marcus V. Brown

Marcus V. Brown

Executive Vice President and

General Counsel

Dated: June 28, 2019

EX-99.1

ENTERGY STATISTICAL REPORT

AND INVESTOR GUIDE

2018

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 – customers, employees, communities and 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 approximately
$11 billion and nearly 13,700 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 2018 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 Statistical 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
This publication is unaudited and should be used in conjunction with Entergy’s 2018	• the effects of changes in federal, state or local laws and regulations, and other
Annual Report to Shareholders and Form 10-K filed with the Securities and Exchange	governmental actions or policies, including changes in monetary, fiscal, tax,
Commission. It has been prepared for information purposes and is not intended for use	environmental, trade/tariff, or energy policies;
in connection with any sale or purchase of, or any offer to buy, any securities of Entergy	• the effects of full or partial shutdowns of the federal government or delays in
Corporation or its subsidiaries.	obtaining government or regulatory actions or decisions;
	• uncertainty regarding the establishment of interim or permanent sites for spent
FORWARD-LOOKING INFORMATION	nuclear fuel and nuclear waste storage and disposal and the level of spent fuel and
In this report and from time to time, Entergy Corporation makes statements concerning	nuclear waste disposal fees charged by the U.S. government or other providers related
its expectations, beliefs, plans, objectives, goals, strategies, and future	to such sites;
events or performance. Such statements are “forward-looking statements”	• variations in weather and the occurrence of hurricanes and other storms and disasters,
within the meaning of the Private Securities Litigation Reform Act of 1995.	including uncertainties associated with efforts to remediate the effects of hurricanes,
Words such as “may,” “will,” “could,” “project,” “believe,” “anticipate,” “intend,”	ice storms, or other weather events and the recovery of costs associated with
“expect,” “estimate,” “continue,” “potential,” “plan,” “predict,” “forecast,”	restoration, including accessing funded storm reserves, federal and local cost recovery
and other similar words or expressions are intended to identify forward-looking	mechanisms, securitization, and insurance;
statements but are not the only means to identify these statements. Although Entergy	• effects of climate change, including the potential for increases in extreme weather
believes that these forward-looking statements and the underlying assumptions are	events and sea levels or coastal land and wetland loss;
reasonable, it cannot provide assurance that they will prove correct. Any	• changes in the quality and availability of water supplies and the related regulation of
forward-looking statement is based on information current as of the date of this	water use and diversion;
report and speaks only as of the date on which such statement is made.	• Entergy’s ability to manage its capital projects and operation and maintenance costs;
Except to the extent required by the federal securities laws, Entergy undertakes	• Entergy’s ability to purchase and sell assets at attractive prices and on other
no obligation to publicly update or revise any forward-looking statements,	attractive terms;
whether as a result of new information, future events, or otherwise.	• the economic climate, and particularly economic conditions in Entergy’s Utility
Forward-looking statements involve a number of risks and uncertainties.	service area and the northern United States and events and circumstances that could
There are factors that could cause actual results to differ materially from those	influence economic conditions in those areas, including power prices, and the risk
expressed or implied in the forward-looking statements, including (a) those	that anticipated load growth may not materialize;
factors discussed or incorporated by reference in Item 1A. Risk Factors contained	• federal income tax reform, including the enactment of the Tax Cuts and Jobs Act, and
in the Form 10-K for the year ended Dec. 31, 2018, (b) those factors discussed or	its intended and unintended consequences on financial results and future cash flows;
incorporated by reference in Management’s Financial Discussion and Analysis	• the effects of Entergy’s strategies to reduce tax payments, especially in light of
contained in the Form 10-K for the year ended Dec. 31, 2018, and (c) the following	federal income tax reform;
factors (in addition to others described elsewhere in this report and in	• changes in the financial markets and regulatory requirements for the issuance of
subsequent securities filings):	securities, particularly as they affect access to capital and Entergy’s ability to
• resolution of pending and future rate cases, formula rate proceedings and related	refinance existing securities, execute share repurchase programs, and fund
negotiations, including various performance-based rate discussions, Entergy’s utility	investments and acquisitions;
supply plan, and recovery of fuel and purchased power costs;	• actions of rating agencies, including changes in the ratings of debt, changes in general
• long-term risks and uncertainties associated with the termination of the System	corporate ratings, and changes in the rating agencies’ ratings criteria;
Agreement in 2016, including the potential absence of federal authority to resolve	• changes in inflation and interest rates;
certain issues among the Utility operating companies and their retail regulators;	• the effect of litigation and government investigations or proceedings;
• regulatory and operating challenges and uncertainties and economic risks associated	• changes in technology, including (i) Entergy’s ability to implement new or emerging
with the Utility operating companies’ participation in MISO, including the benefits	technologies, (ii) the impact of changes in technology relating to new, developing, or
of continued MISO participation, the effect of current or projected MISO market rules	alternative sources of generation such as distributed energy and energy storage,
and market and system conditions in the MISO markets, the allocation of MISO	renewable energy, energy efficiency, demand side management, and other measures that
system transmission upgrade costs, and the effect of planning decisions that MISO	reduce load, and (iii) competition from other companies offering products and services to
makes with respect to future transmission investments by the Utility operating	Entergy's customers based on new or emerging technologies or alternative sources of
companies;	generation;
• changes in utility regulation, including with respect to retail and wholesale	• the effects, including increased security costs, of threatened or actual terrorism, cyber-
competition, the ability to recover net utility assets and other potential stranded costs,	attacks or data security breaches, natural or man-made electromagnetic pulses that
and the application of more stringent transmission reliability requirements or market	affect transmission or generation infrastructure, accidents, and war or a catastrophic
power criteria by the FERC or the U.S. Department of Justice;	event such as a nuclear accident or a natural gas pipeline explosion;
• changes in the regulation or regulatory oversight of Entergy’s nuclear generating	• Entergy’s ability to attract and retain talented management, directors, and employees
facilities and nuclear materials and fuel, including with respect to the planned,	with specialized skills;
potential or actual shutdown of nuclear generating facilities owned or operated by	• changes in accounting standards and corporate governance;
Entergy Wholesale Commodities and the effects of new or existing safety or	• declines in the market prices of marketable securities and resulting funding
environmental concerns regarding nuclear power plants and nuclear fuel;	requirements and the effects on benefits costs for Entergy’s defined benefit pension

• resolution of pending or future applications, and related regulatory proceedings and	and other postretirement benefit plans;
litigation, for license modifications or other authorizations required of nuclear	• future wage and employee benefit costs, including changes in discount rates and
generating facilities and the effect of public and political opposition on these	returns on benefit plan assets;
applications, regulatory proceedings and litigation;	• changes in decommissioning trust fund values or earnings or in the timing of,
• the performance of and deliverability of power from Entergy’s generation resources,	requirements for, or cost to decommission Entergy's nuclear plant sites and the
including the capacity factors at Entergy's nuclear generating facilities;	implementation of decommissioning of such sites following shutdown;
• increases in costs and capital expenditures that could result from changing regulatory	• the decision to cease merchant power generation at all Entergy Wholesale
requirements, emerging operating and industry issues, and the commitment of	Commodities nuclear power plants by mid-2022, including the implementation of the
substantial human and capital resources required for the safe and reliable operation	planned shutdowns of Pilgrim, Indian Point 2, Indian Point 3, and Palisades;
and maintenance of Entergy’s nuclear generating facilities;	• the effectiveness of Entergy’s risk management policies and procedures and the
• Entergy’s ability to develop and execute on a point of view regarding future prices of	ability and willingness of its counterparties to satisfy their financial and performance
electricity, natural gas, and other energy-related commodities;	commitments;
• prices for power generated by Entergy’s merchant generating facilities and the ability	• factors that could lead to impairment of long-lived assets; and
to hedge, meet credit support requirements for hedges, sell power forward or	• the ability to successfully complete strategic transactions Entergy may undertake,
otherwise reduce the market price risk associated with those facilities, including the	including mergers, acquisitions, divestitures, or restructurings, regulatory or other
Entergy Wholesale Commodities nuclear plants especially in light of the planned	limitations imposed as a result of any such strategic transaction, and the success of
shutdown or sale of each of these nuclear plants;	the business following any such strategic transaction.
• the prices and availability of fuel and power Entergy must purchase for its Utility
customers, and Entergy’s ability to meet credit support requirements for fuel and	REGULATION G COMPLIANCE
power supply contracts;	Financial performance measures shown in this report include those calculated and
• volatility and changes in markets for electricity, natural gas, uranium, emissions	presented in accordance with generally accepted accounting principles (GAAP), as well
allowances, and other energy-related commodities, and the effect of those changes on	as those that are considered non-GAAP measures. This report includes non-GAAP
Entergy and its customers;	measures of adjusted earnings; adjusted EPS; adjustments; adjusted EBITDA; adjusted
• changes in law resulting from federal or state energy legislation or	common dividend payout ratio; adjusted ROIC; adjusted ROE; gross liquidity; adjusted
legislation subjecting energy derivatives used in hedging and risk management	return on average member's equity; adjusted net revenue; adjusted non-fuel O&M;
transactions to governmental regulation;	total debt, excluding securitization debt; debt to capital, excluding securitization debt;
• changes in environmental laws and regulations, agency positions or associated	net debt to net capital, excluding securitization debt; parent debt to total debt, excluding
litigation, including requirements for reduced emissions of sulfur dioxide, nitrogen	securitization debt; FFO; FFO to debt, excluding securitization debt; FFO to debt
oxide, greenhouse gases, mercury, particulate matter and other regulated air	excluding securitization debt, return of unprotected excess ADIT, and severance,
emissions, heat and other regulated discharges to water, requirements for waste	and retention payments associated with exit of EWC. We have prepared reconciliations
management and disposal and for the remediation of contaminated sites, wetlands	of these measures to the most directly comparable GAAP measures. Reconciliations
protection and permitting, and changes in costs of compliance with environmental	can be found on pages 7, 10, and 53 – 66.
laws and regulations;
• changes in laws and regulations, agency positions, or associated litigation related to
protected species and associated critical habitat designations;

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 – customers, employees, communities and owners. This is our mission.
• For our customers, we create value by delivering top-quartile customer experience by anticipating customer needs and exceeding their expectations while keeping rates reasonable.
• For our employees, we create value by attaining top-quartile organizational health scores and everyone safe, all day, every day and by providing a rewarding, engaging, diverse and inclusive work environment with fair compensation and benefits and opportunities for career advancement.
• For our communities, we create value by achieving top-decile corporate social responsibility performance through economic development, philanthropy, volunteerism and advocacy and by operating our business safely and in a socially and environmentally responsible way.
• For our owners, we create value by delivering top-quartile shareholder returns through the relentless pursuit of opportunities to optimize our business.
BUSINESS STRATEGY
Our strategy to achieve our stakeholder objectives has two key focus areas. 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 and supported by progressive regulatory constructs, and by ensuring an orderly exit of our merchant business.
ENTERGY BY THE NUMBERS
GAAP Revenues	$11.0 billion
GAAP Net Income	$863 million
Total Assets	$48.3 billion
Utility Retail Electric Customers	2.9 million
Interconnected High-Voltage Transmission Lines	15,900 circuit miles
Distribution Lines	105,000 circuit miles
Utility Billed Retail Electric Energy Sales	129,213 GWh
EWC Billed Electric Energy Sales	29,875 GWh
Employees at Year-end	13,688
Total Owned and Leased Generating Capability by Fuel Source in MW:
Nuclear	8,772
Gas/Oil	13,975
Coal	2,411
Solar	2
Hydro	73

ENTERGY AT A GLANCE
OPERATIONS
UTILITY
Entergy’s utility companies generate, transmit, distribute, and sell	ENTERGY WHOLESALE COMMODITIES (EWC)
electric power, and operate a small natural gas distribution business.	Entergy has announced the sale and closure of the EWC nuclear assets, completing
• Five electric utilities with 2.9 million customers	its plan to exit the merchant power business and transition to a pure-play utility.
• Four states – Arkansas, Louisiana, Mississippi, Texas
• 21,000 MW generating capability	EWC owns, operates and decommissions nuclear power plants located in the
• Two gas utilities with 200,000 customers	northern United States and sells the electric power produced by its operating
	plants to wholesale customers. EWC also provides operations and management services,
ENTERGY ARKANSAS, INC. (E-AR)	including decommissioning services, to nuclear power plants owned by other utilities
Entergy Arkansas generates, transmits, distributes, and sells electric	in the United States. EWC also owns interests in non-nuclear power plants that sell
power to 711,000 retail customers in Arkansas.	the electric power produced by those plants to wholesale customers.
ENTERGY LOUISIANA, LLC (E-LA)	• 3,568 MW nuclear-owned generating capacity in four units in northern U.S.
Entergy Louisiana generates, transmits, distributes, and sells electric	• Pilgrim Nuclear Power Station in Plymouth, Massachusetts
power to 1,084,000 retail customers in Louisiana. Entergy	• Indian Point Energy Center Units 2 and 3 in Buchanan, New York
Louisiana also provides natural gas utility service to 93,000 customers in	• Palisades Nuclear Plant in Covert, Michigan
the Baton Rouge, Louisiana area.	• 394 net owned MW non-nuclear generating capacity
	• 800 MW under management support services contract
ENTERGY MISSISSIPPI, INC. (E-MS)	• Cooper Nuclear Station located near Brownville, Nebraska
Entergy Mississippi generates, transmits, distributes, and sells electric
power to 450,000 retail customers in Mississippi.	James A. FitzPatrick Nuclear Power Plant was sold on March 31, 2017. Vermont Yankee
	Nuclear Power Station was sold on January 11, 2019. Entergy plans to close Pilgrim on
ENTERGY NEW ORLEANS, LLC (E-NO)	May 31, 2019, Indian Point 2 on April 30, 2020, Indian Point 3 on April 30, 2021, and
Entergy New Orleans generates, transmits, distributes, and sells	Palisades on May 31, 2022.
electric power to 202,000 retail customers in the city of New Orleans,
Louisiana. Entergy New Orleans also provides natural gas utility
service to 107,000 customers in the city of New Orleans.
ENTERGY TEXAS, INC. (E-TX)
Entergy Texas generates, transmits, distributes, and sells electric power
to 454,000 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
	2018		2017		2016
GAAP MEASURES
Operating Revenues ($ millions)	11,009		11,074		10,846
As-Reported Net Income (Loss) Attributable to Entergy Corporation ($ millions)	849		412		(584	)
As-Reported Earnings Per Share ($)	4.63		2.28		(3.26	)
Common Dividend Paid Per Share ($)	3.58		3.50		3.42
Common Dividend Payout Ratio – As-Reported (%)	77		154		(104	)
NON-GAAP MEASURES
Adjusted Earnings ($ millions)	970		715		785
Adjusted Earnings Per Share ($)	5.29		3.96		4.39
Adjustments ($ millions)	(121	)	(303	)	(1,369	)
Adjustments Per Share ($)	(0.66	)	(1.68	)	(7.65	)
Common Dividend Payout Ratio – Adjusted (%)	68		88		78
UTILITY ELECTRIC OPERATING DATA
	2018		2017		2016
Retail Kilowatt-Hour Sales (millions)	117,498		112,859		112,595
Peak Demand (megawatts)	21,587		21,671		21,387
Retail Customers – Year End (thousands)	2,901		2,884		2,868
ENTERGY WHOLESALE COMMODITIES OPERATING DATA
	2018		2017		2016
Billed Electric Energy Sales (gigawatt hours)	29,875		30,501		35,881
EMPLOYEES
	2018		2017		2016
Total Employees – Year End	13,688		13,504		13,513

OWNED AND LEASED CAPABILITY (MW)(a)
As of December 31, 2018
	E-AR	E-LA	E-MS	E-NO	E-TX	SERI	EWC(b)(c)	Total
Gas/Oil	2,118	6,646	2,382	507	2,109	—	213	13,975
Coal	1,188	362	413	—	267	—	181	2,411
Total Fossil	3,306	7,008	2,795	507	2,376	—	394	16,386
Nuclear	1,817	2,135	—	—	—	1,252	3,568	8,772
Hydro	73	—	—	—	—	—	—	73
Solar	—	—	1	1	—	—	—	2
Total	5,196	9,143	2,796	508	2,376	1,252	3,962	25,233
(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.

CONSOLIDATED ENTERGY CORPORATION AND SUBSIDIARIES DATA
CONSOLIDATED QUARTERLY FINANCIAL METRICS
	2018					2017								FY
	1Q	2Q	3Q	4Q	FY	1Q		2Q		3Q		4Q	FY	CHANGE
GAAP MEASURES
ROIC – as-reported (%)(a)	3.9	3.2	3.7	5.3	5.3	(1.3	)	(1.9	)	(1.8	)	3.4	3.4	1.9
ROE – as-reported (%)(a)	5.8	3.6	5.1	10.1	10.1	(8.4	)	(9.8	)	(9.4	)	5.1	5.1	5.0
Cash and cash equivalents ($ millions)	1,206	813	988	481	481	1,083		934		546		781	781	(300	)
Revolver capacity ($ millions)	3,010	3,885	3,653	4,056	4,056	4,185		4,163		4,213		4,174	4,174	(118	)
Commercial paper ($ millions)	655	1,945	1,947	1,942	1,942	1,088		1,147		1,272		1,467	1,467	475
Total debt ($ millions)	17,680	17,881	18,485	18,133	18,133	15,611		16,285		16,224		16,677	16,677	1,456
Securitization debt ($ millions)	520	483	463	424	424	637		602		582		545	545	(121	)
Debt to capital (%)	68.4	68.5	68.2	66.7	66.7	65.4		65.5		64.6		67.1	67.1	(0.4	)
Off-balance sheet liabilities ($ millions)
Debt of joint ventures – Entergy’s share	66	64	62	61	61	71		70		68		67	67	(6	)
Leases – Entergy’s share	429	429	429	448	448	397		397		397		429	429	19
Power purchase agreements accounted for as leases(b)	136	136	136	106	106	166		166		166		136	136	(30	)
Total off-balance sheet liabilities	631	629	627	615	615	634		633		631		632	632	(17	)
NON-GAAP MEASURES
ROIC – adjusted (%)(a)	5.0	5.2	5.5	5.7	5.7	4.7		4.6		4.4		4.6	4.6	1.1
ROE – adjusted (%)(a)	9.4	10.1	10.7	11.5	11.5	8.5		8.2		7.5		8.9	8.9	2.6
Gross liquidity ($ millions)	4,216	4,698	4,641	4,537	4,537	5,268		5,097		4,759		4,955	4,955	(418	)
Debt to capital,      excluding securitization debt (%)	67.7	67.9	67.7	66.1	66.1	64.4		64.7		63.8		66.3	66.3	(0.1	)
Net debt to net capital,      excluding securitization debt (%)	66.1	66.9	66.4	65.5	65.5	62.7		63.2		62.9		65.2	65.2	0.4
Parent debt to total debt,      excluding securitization debt (%)	21.1	24.1	24.5	22.6	22.6	21.1		20.5		20.8		21.8	21.8	0.8
FFO to debt,      excluding securitization debt (%)	14.8	15.4	13.1	11.7	11.7	17.1		14.4		14.5		15.1	15.1	(3.4	)
FFO to debt,      excluding securitization debt, return of      unprotected excess ADIT, and severance and      retention payments associated with exit of EWC (%)	15.3	15.9	15.0	15.3	15.3	17.2		15.0		15.1		15.7	15.7	(0.4	)
Totals may not foot due to rounding.
(a) Rolling twelve months.
(b) For further detail, see Note 10 on page 158 of the 2018 SEC Form 10-K.

CONSOLIDATED ANNUAL FINANCIAL METRICS
	2018	2017	2016
GAAP MEASURES
ROIC – as-reported (%)	5.3	3.4	(0.7)
ROE – as-reported (%)	10.1	5.1	(6.7)
Cash and cash equivalents ($ millions)	481	781	1,188
Revolver capacity ($ millions)	4,056	4,174	3,720
Commercial paper ($ millions)	1,942	1,467	344
Total debt ($ millions)	18,133	16,677	15,275
Securitization debt ($ millions)	424	545	661
Debt to capital (%)	66.7	67.1	64.8
Off-balance sheet liabilities ($ millions)
Debt of joint ventures – Entergy’s share	61	67	72
Leases – Entergy’s share	448	429	397
Power purchase agreements accounted for as leases(a)	106	136	166
Total off-balance sheet liabilities	615	632	635
NON-GAAP MEASURES
ROIC – adjusted (%)	5.7	4.6	5.1
ROE – adjusted (%)	11.5	8.9	9.0
Gross liquidity ($ millions)	4,537	4,955	4,908
Debt to capital, excluding securitization debt (%)	66.1	66.3	63.8
Net debt to net capital, excluding securitization debt (%)	65.5	65.2	61.8
Parent debt to total debt, excluding securitization debt (%)	22.6	21.8	19.8
FFO to debt, excluding securitization debt (%)	11.7	15.1	18.8
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%)	15.3	15.7	18.8
Totals may not foot due to rounding.
(a) For further detail, see Note 10 on page 158 of the 2018 SEC Form 10-K.

FINANCIAL RESULTS
ENTERGY CORPORATION CONSOLIDATED QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION
	2018										2017										FY
(After-tax, $ in millions)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY		CHANGE
AS-REPORTED EARNINGS (LOSS)
Utility	215		376		505		388		1,483		165		243		401		(47	)	762		722
Parent & Other	(64	)	(73	)	(73	)	(81	)	(292	)	(54	)	(57	)	(58	)	(6	)	(175	)	(116	)
Entergy Wholesale Commodities	(18	)	(57	)	105		(373	)	(343	)	(28	)	223		55		(425	)	(175	)	(168	)
CONSOLIDATED AS-REPORTED EARNINGS (LOSS)	133		245		536		(66	)	849		83		410		398		(479	)	412		437
LESS ADJUSTMENTS
Utility	—		43		—		179		222		—		—		—		(181	)	(181	)	403
Parent & Other	—		—		—		—		—		—		—		—		52		52		(52	)
Entergy Wholesale Commodities	(18	)	(57	)	105		(373	)	(343	)	(28	)	223		55		(425	)	(175	)	(168	)
TOTAL ADJUSTMENTS	(18	)	(14	)	105		(194	)	(121	)	(28	)	223		55		(554	)	(304	)	183
ADJUSTED EARNINGS (LOSS)
Utility	215		333		505		209		1,262		165		243		401		134		943		319
Parent & Other	(64	)	(73	)	(73	)	(81	)	(291	)	(54	)	(57	)	(58	)	(58	)	(227	)	(64	)
Entergy Wholesale Commodities	—		—		—		—		—		—		—		—		—		—		—
CONSOLIDATED ADJUSTED EARNINGS (LOSS)	151		259		431		128		970		111		187		343		75		715		255
Weather Impact	16		21		5		25		67		(29	)	(16	)	(45	)	11		(79	)	146
SHARES OF COMMON STOCK OUTSTANDING
($ millions)
End of period	181		181		181		189		189		179		180		180		181		181		9
Weighted average - diluted	181		183		184		183		183		180		180		181		180		181		3
	2018										2017										FY
(After-tax, per share in $) (a)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY		CHANGE
AS-REPORTED EARNINGS (LOSS)
Utility	1.19		2.05		2.75		2.12		8.09		0.92		1.35		2.22		(0.26	)	4.22		3.87
Parent & Other	(0.36	)	(0.40	)	(0.40	)	(0.44	)	(1.59	)	(0.30	)	(0.32	)	(0.32	)	(0.04	)	(0.97	)	(0.62	)
Entergy Wholesale Commodities	(0.10	)	(0.31	)	0.57		(2.04	)	(1.87	)	(0.16	)	1.24		0.31		(2.36	)	(0.97	)	(0.90	)
CONSOLIDATED AS-REPORTED EARNINGS (LOSS)	0.73		1.34		2.92		(0.36	)	4.63		0.46		2.27		2.21		(2.66	)	2.28		2.35
LESS ADJUSTMENTS
Utility	—		0.23		—		0.98		1.21		—		—		—		(1.00	)	(1.00	)	2.21
Parent & Other	—		—		—		—		—		—		—		—		0.29		0.29		(0.29	)
Entergy Wholesale Commodities	(0.10	)	(0.31	)	0.57		(2.04	)	(1.87	)	(0.16	)	1.24		0.31		(2.36	)	(0.97	)	(0.90	)
TOTAL ADJUSTMENTS	(0.10	)	(0.08	)	0.57		(1.06	)	(0.66	)	(0.16	)	1.24		0.31		(3.07	)	(1.68	)	1.02
ADJUSTED EARNINGS (LOSS)
Utility	1.19		2.05		2.75		2.12		8.09		0.92		1.35		2.22		(0.26	)	4.22		3.87
Parent & Other	(0.36	)	(0.40	)	(0.40	)	(0.44	)	(1.59	)	(0.30	)	(0.32	)	(0.32	)	(0.04	)	(0.97	)	(0.62	)
Entergy Wholesale Commodities	—		—		—		—		—		—		—		—		—		—		—
CONSOLIDATED ADJUSTED EARNINGS (LOSS)	0.83		1.42		2.35		0.70		5.29		0.62		1.03		1.90		0.41		3.96		1.33
Weather Impact	0.09		0.11		0.03		0.13		0.37		(0.16	)	(0.09	)	(0.25	)	0.06		(0.44	)	0.80
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
	2018										2017										FY
(Pre-tax except for income tax effect and total, $ millions)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY		CHANGE
UTILITY ADJUSTMENTS
Customer sharing associated with internal restructuring	—		—		—		(40	)	(40	)	—		—		—		—		—		(40	)
Customer sharing associated with tax reform	—		—		—		—		—		—		—		—		56		56		(56	)
Income tax effect on Utility adjustments above (a)	—		—		—		10		10		—		—		—		(14	)	(14	)	24
2012 / 2013 IRS audit settlement	—		43		—		—		43		—		—		—		—		—		43
Internal restructuring	—		—		—		170		170		—		—		—		—		—		170
Tax reform	—		—		—		38		38		—		—		—		(222	)	(222	)	260
Total	—		43		—		179		222		—		—		—		(181	)	(181	)	403
PARENT & OTHER ADJUSTMENTS
Tax reform	—		—		—		—		—		—		—		—		52		52		(52	)
Total	—		—		—		—		—		—		—		—		52		52		(52	)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Income before income taxes	(19	)	(86	)	(30	)	(474	)	(610	)	(106	)	(231	)	81		(64	)	(319	)	(291	)
Income taxes	1		30		136		102		269		78		454		(26	)	(361	)	146		123
Preferred dividend requirements of subsidiaries	(1	)	(1	)	(1	)	(1	)	(2	)	(1	)	(1	)	(1	)	(1	)	(2	)	—
Total	(18	)	(57	)	105		(373	)	(343	)	(28	)	223		55		(425	)	(175	)	(168	)
TOTAL ADJUSTMENTS	(18	)	(14	)	105		(194	)	(121	)	(28	)	223		55		(554	)	(304	)	183
	2018										2017										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		—		—		—		(1.23	)	(1.23	)	1.44
Customer sharing associated with tax reform	—		—		—		—		—		—		—		—		0.23		0.23		(0.23	)
Total	—		0.23		—		0.98		1.21		—		—		—		(1.00	)	(1.00	)	2.21
PARENT & OTHER ADJUSTMENTS
Tax reform	—		—		—		—		—		—		—		—		0.29		0.29		(0.29	)
Total	—		—		—		—		—		—		—		—		0.29		0.29		(0.29	)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Total	(0.10	)	(0.31	)	0.57		(2.04	)	(1.87	)	(0.16	)	1.24		0.31		(2.36	)	(0.97	)	(0.90	)
TOTAL ADJUSTMENTS	(0.10	)	(0.08	)	0.57		(1.06	)	(0.66	)	(0.16	)	1.24		0.31		(3.07	)	(1.68	)	1.02
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
	2018										2017										FY
(Pre-tax except for Income taxes and Total, $ millions)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY		CHANGE
UTILITY ADJUSTMENTS
Net revenue (a)	—		—		—		(40	)	(40	)	—		—		—		56		56		(95	)
Income taxes (c)	—		43		—		219		261		—		—		—		(236	)	(236	)	498
Total	—		43		—		179		222		—		—		—		(181	)	(181	)	403
PARENT & OTHER ADJUSTMENTS
Income taxes (c)	—		—		—		—		—		—		—		—		52		52		(52	)
Total	—		—		—		—		—		—		—		—		52		52		(52	)
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Net revenue (b)	382		272		341		281		1,276		494		250		392		333		1,469		(193	)
Non-fuel O&M	(193	)	(200	)	(209	)	(209	)	(811	)	(291	)	(195	)	(186	)	(222	)	(894	)	82
Asset write-offs and impairments	(73	)	(69	)	(155	)	(235	)	(532	)	(212	)	(194	)	(16	)	(117	)	(538	)	6
Decommissioning expense	(58	)	(60	)	(56	)	(64	)	(239	)	(75	)	(60	)	(60	)	(60	)	(255	)	16
Taxes other than income taxes	(16	)	(22	)	(19	)	(21	)	(78	)	(23	)	(19	)	(18	)	(20	)	(80	)	1
Depreciation/amortization expense	(38	)	(39	)	(40	)	(34	)	(150	)	(53	)	(52	)	(52	)	(36	)	(193	)	43
Gain on sale of asset	—		—		—		—		—		16		—		—		—		16		(16	)
Other income (deductions) - other	(14	)	40		116		(185	)	(42	)	43		44		28		64		180		(222	)
Interest expense and other charges	(8	)	(8	)	(9	)	(8	)	(34	)	(6	)	(6	)	(5	)	(6	)	(24	)	(11	)
Income taxes	1		30		136		102		269		78		455		(26	)	(361	)	146		123
Preferred dividend	(1	)	(1	)	(1	)	(1	)	(2	)	(1	)	(1	)	(1	)	(1	)	(2	)	—
Total	(18	)	(57	)	105		(373	)	(343	)	(28	)	223		55		(425	)	(175	)	(168	)
TOTAL ADJUSTMENTS (after-tax)	(18	)	(14	)	105		(194	)	(121	)	(28	)	223		55		(554	)	(304	)	183
Totals may not foot due to rounding.
(a) Operating revenue less fuel, fuel related expenses and gas purchased for resale, purchased power and other regulatory charges (credits) – net.
(b) Operating revenue less fuel, fuel related expenses and purchased power.
(c) 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)	2018		2017		2016
AS-REPORTED EARNINGS (LOSS)
Utility	1,483		762		1,134
Parent & Other	(292	)	(175	)	(222	)
Entergy Wholesale Commodities	(343	)	(175	)	(1,495	)
CONSOLIDATED AS-REPORTED EARNINGS	849		412		(584	)
LESS ADJUSTMENTS
Utility	222		(181	)	127
Parent & Other	—		52		—
Entergy Wholesale Commodities	(343	)	(175	)	(1,495	)
TOTAL ADJUSTMENTS	(121	)	(304	)	(1,369	)
ADJUSTED EARNINGS (LOSS)
Utility	1,261		943		1,007
Parent & Other	(292	)	(227	)	(222	)
Entergy Wholesale Commodities	—		—		—
ENTERGY ADJUSTED EARNINGS	970		716		785
Weather Impact	67		(79	)	11
SHARES OF COMMON STOCK OUTSTANDING
($ millions)
End of period	189		181		179
Weighted average - diluted	183		181		179
(After-tax, per share in $) (a)	2018		2017		2016
AS-REPORTED EARNINGS (LOSS)
Utility	8.09		4.22		6.34
Parent & Other	(1.59	)	(0.97	)	(1.24	)
Entergy Wholesale Commodities	(1.87	)	(0.97	)	(8.36	)
CONSOLIDATED AS-REPORTED EARNINGS	4.63		2.28		(3.26	)
LESS ADJUSTMENTS
Utility	1.21		(1.00	)	0.71
Parent & Other	—		0.29		—
Entergy Wholesale Commodities	(1.87	)	(0.97	)	(8.36	)
TOTAL ADJUSTMENTS	(0.66	)	(1.68	)	(7.65	)
ADJUSTED EARNINGS (LOSS)
Utility	6.88		5.22		5.63
Parent & Other	(1.59	)	(1.26	)	(1.24	)
Entergy Wholesale Commodities	—		—		—
ENTERGY ADJUSTED EARNINGS	5.29		3.96		4.39
Weather Impact	0.37		(0.44	)	(0.06	)
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 tax effect and total, $ millions)	2018		2017		2016
UTILITY ADJUSTMENTS
Customer sharing associated with internal restructuring	(40	)	—		—
Customer sharing associated with tax reform	—		56		—
Customer sharing associated with IRS audit items	—		—		(16	)
Income tax effect on Utility adjustments above (a)	10		(14	)	6
2012 / 2013 IRS audit settlement	43		—		—
Internal restructuring	170		—		—
Tax reform	38		(222	)	—
IRS audit items	—		—		137
Total	222		(181	)	127
PARENT & OTHER ADJUSTMENTS
Tax reform	—		52		—
Total	—		52		—
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Income before income taxes	(610	)	(319	)	(2,685	)
Income taxes	269		146		1,192
Preferred dividend	(2	)	(2	)	(2	)
Total	(343	)	(175	)	(1,495	)
TOTAL ADJUSTMENTS	(121	)	(304	)	(1,368	)
(After-tax, per share in $) (b)	2018		2017		2016
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	—		—		0.76
Customer sharing associated with IRS audit items	—		—		(0.06	)
Total	1.21		(1.00	)	0.71
PARENT & OTHER ADJUSTMENTS
Tax reform	—		0.29		—
Total	—		0.29		—
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT
Total	(1.87	)	(0.97	)	(8.36	)
TOTAL ADJUSTMENTS	(0.66	)	(1.68	)	(7.65	)
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 and Total, $ millions)	2018		2017		2016
UTILITY ADJUSTMENTS
Net revenue (a)	(40	)	56		(16	)
Income taxes (c)	261		(236	)	143
Total	222		(181	)	127
PARENT & OTHER ADJUSTMENTS
Income taxes (c)	—		52		—
Total	—		52		—
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS
Net revenue (b)	1,276		1,469		1,542
Non-fuel O&M	(811	)	(894	)	(972	)
Asset write-offs and impairments	(532	)	(538	)	(2,836	)
Decommissioning expense	(239	)	(255	)	(175	)
Taxes other than income taxes	(78	)	(80	)	(94	)
Depreciation/amortization expense	(150	)	(193	)	(200	)
Gain on sale of assets	—		16		—
Other income (deductions) - other	(42	)	180		71
Interest expense and other charges	(34	)	(24	)	(23	)
Income taxes	269		146		1,192
Preferred dividend	(2	)	(2	)	(2	)
Total	(343	)	(175	)	(1,495	)
TOTAL ADJUSTMENTS (after-tax)	(121	)	(304	)	(1,369	)
Totals may not foot due to rounding.
(a) Operating revenue less fuel, fuel related expenses and gas purchased for resale, purchased power and other regulatory charges (credits) – net.
(b) Operating revenue less fuel, fuel related expenses and purchased power.
(c) 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,	2018			2017			2016
OPERATING REVENUES:
Electric		$9,384,111			$9,278,895			$8,866,659
Natural gas	156,436			138,856			129,348
Competitive businesses	1,468,905			1,656,730			1,849,638
Total	11,009,452			11,074,481			10,845,645
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale	2,147,793			1,991,589			1,809,200
Purchased power	1,658,799			1,427,950			1,220,527
Nuclear refueling outage expenses	153,826			168,151			208,678
Other operation and maintenance	3,346,397			3,306,694			3,225,477
Asset write-offs, impairments, and related charges	532,321			538,372			2,835,637
Decommissioning	388,508			405,685			327,425
Taxes other than income taxes	641,952			617,556			592,502
Depreciation and amortization	1,369,442			1,389,978			1,347,187
Other regulatory charges (credits) – net	301,049			(131,901		)	94,243
Total	10,540,087			9,714,074			11,660,876
OPERATING INCOME (LOSS)	469,365			1,360,407			(815,231		)
OTHER INCOME:
Allowance for equity funds used during construction	129,602			95,088			67,563
Interest and investment income	63,864			288,197			145,127
Miscellaneous – net	(129,754		)	(113,426		)	(112,851		)
Total	63,712			269,859			99,839
INTEREST EXPENSE:
Interest expense	768,322			707,212			700,545
Allowance for borrowed funds used during construction	(60,974		)	(44,869		)	(34,175		)
Total	707,348			662,343			666,370
INCOME (LOSS) BEFORE INCOME TAXES	(174,271		)	967,923			(1,381,762		)
Income taxes	(1,036,826		)	542,570			(817,259		)
CONSOLIDATED NET INCOME (LOSS)	862,555			425,353			(564,503		)
Preferred dividend requirements of subsidiaries	13,894			13,741			19,115
NET INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION		$848,661			$411,612			($583,618	)
Basic earnings (loss) per average common share		$4.68			$2.29			($3.26	)
Diluted earnings (loss) per average common share		$4.63			$2.28			($3.26	)
Basic average number of common shares outstanding	181,409,597			179,671,797			178,885,660
Diluted average number of common shares outstanding	183,378,513			180,535,893			178,885,660

FINANCIAL RESULTS
2018 CONSOLIDATING INCOME STATEMENT (unaudited)
										ENTERGY
In thousands, except share data, for the year ended December 31, 2018.	UTILITY			PARENT & OTHER			EWC			CONSOLIDATED
OPERATING REVENUES:
Electric		$9,384,234			($123	)		$—			$9,384,111
Natural gas	156,436			—			—			156,436
Competitive businesses	—			—			1,468,905			1,468,905
Total	9,540,670			(123		)	1,468,905			11,009,452
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale	2,070,678			(123		)	77,238			2,147,793
Purchased power	1,543,470			119			115,210			1,658,799
Nuclear refueling outage expenses	150,255			—			3,571			153,826
Other operation and maintenance	2,501,369			37,328			807,700			3,346,397
Asset write-offs, impairments, and related charges	—			—			532,321			532,321
Decommissioning	149,624			—			238,884			388,508
Taxes other than income taxes	561,985			1,796			78,171			641,952
Depreciation and amortization	1,218,320			1,274			149,848			1,369,442
Other regulatory charges (credits) - net	301,049			—			—			301,049
Total	8,496,750			40,394			2,002,943			10,540,087
OPERATING INCOME (LOSS)	1,043,920			(40,517		)	(534,038		)	469,365
OTHER INCOME:
Allowance for equity funds used during construction	129,602			—			—			129,602
Interest and investment income	203,936			(154,615		)	14,543			63,864
Miscellaneous – net	(62,026		)	(11,251		)	(56,477		)	(129,754		)
Total	271,512			(165,866		)	(41,934		)	63,712
INTEREST EXPENSE:
Interest expense	613,893			120,735			33,694			768,322
Allowance for borrowed funds used during construction	(60,974		)	—			—			(60,974		)
Total	552,919			120,735			33,694			707,348
INCOME (LOSS) BEFORE INCOME TAXES	762,513			(327,118		)	(609,666		)	(174,271		)
Income taxes	(732,548		)	(35,253		)	(269,025		)	(1,036,826		)
CONSOLIDATED NET INCOME (LOSS)	1,495,061			(291,865		)	(340,641		)	862,555
Preferred dividend requirements of subsidiaries	11,706			—			2,188			13,894
NET INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION		$1,483,355			($291,865	)		($342,829	)		$848,661
Basic earnings (loss) per average common share		$8.18			($1.61	)		($1.89	)		$4.68
Diluted earnings (loss) per average common share		$8.09			($1.59	)		($1.87	)		$4.63
Totals may not foot due to rounding.

FINANCIAL RESULTS
CONSOLIDATED BALANCE SHEETS (unaudited)
In thousands, as of December 31,	2018			2017			2016
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash		$56,690			$56,629			$129,579
Temporary cash investments	424,285			724,644			1,058,265
Total cash and cash equivalents	480,975			781,273			1,187,844
Accounts receivable:
Customer	558,494			673,347			654,995
Allowance for doubtful accounts	(7,322		)	(13,587		)	(11,924		)
Other	167,722			169,377			158,419
Accrued unbilled revenues	395,511			383,813			368,677
Total accounts receivable	1,114,405			1,212,950			1,170,167
Deferred fuel costs	27,251			95,746			108,465
Fuel inventory – at average cost	117,304			182,643			179,600
Materials and supplies – at average cost	752,843			723,222			698,523
Deferred nuclear refueling outage costs	230,960			133,164			146,221
Prepayments and other	234,326			156,333			193,448
Total	2,958,064			3,285,331			3,684,268
OTHER PROPERTY AND INVESTMENTS:
Investment in affiliates – at equity	—			198			198
Decommissioning trust funds	6,920,164			7,211,993			5,723,897
Non-utility property – at cost (less accumulated depreciation)	304,382			260,980			233,641
Other	437,265			441,862			469,664
Total	7,661,811			7,915,033			6,427,400
PROPERTY, PLANT AND EQUIPMENT:
Electric	49,196,578			47,287,370			45,191,216
Property under capital lease	634,908			620,544			619,527
Natural gas	496,150			453,162			413,224
Construction work in progress	2,888,639			1,980,508			1,378,180
Nuclear fuel	861,272			923,200			1,037,899
Total property, plant and equipment	54,077,547			51,264,784			48,640,046
Less – accumulated depreciation and amortization	22,103,101			21,600,424			20,718,639
Property, plant and equipment – net	31,974,446			29,664,360			27,921,407
DEFERRED DEBITS AND OTHER ASSETS:
Regulatory assets:
Regulatory asset for income taxes - net	—			—			761,280
Other regulatory assets (includes securitization property of
$360,790 as of December 31, 2018, $485,031 as of
December 31, 2017 and $600,996 as of December 31, 2016)	4,746,496			4,935,689			4,769,913
Deferred fuel costs	239,496			239,298			239,100
Goodwill	377,172			377,172			377,172
Accumulated deferred income taxes	54,593			178,204			117,885
Other	262,988			112,062			1,606,009
Total	5,680,745			5,842,425			7,871,359
TOTAL ASSETS		$48,275,066			$46,707,149			$45,904,434

FINANCIAL RESULTS
CONSOLIDATED BALANCE SHEETS (unaudited)
In thousands, as of December 31,	2018			2017			2016
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Currently maturing long-term debt		$650,009			$760,007			$364,900
Notes payable and commercial paper	1,942,339			1,578,308			415,011
Accounts payable	1,496,058			1,452,216			1,285,577
Customer deposits	411,505			401,330			403,311
Taxes accrued	254,241			214,967			181,114
Interest accrued	193,192			187,972			187,229
Deferred fuel costs	52,396			146,522			102,753
Obligations under capital leases	1,617			1,502			2,423
Pension and other postretirement liabilities	61,240			71,612			76,942
Current portion of unprotected excess accumulated deferred income taxes	248,127			—			—
Other	132,820			221,771			180,836
Total	5,443,544			5,036,207			3,200,096
NON-CURRENT LIABILITIES:
Accumulated deferred income taxes and taxes accrued	4,107,152			4,466,503			7,495,290
Accumulated deferred investment tax credits	213,101			219,634			227,147
Obligations under capital leases	20,378			22,015			24,582
Regulatory liability for income taxes - net	1,817,021			2,900,204			—
Other regulatory liabilities	1,620,254			1,588,520			1,572,929
Decommissioning and asset retirement cost liabilities	6,355,543			6,185,814			5,992,476
Accumulated provisions	514,107			478,273			481,636
Pension and other postretirement liabilities	2,616,085			2,910,654			3,036,010
Long-term debt (includes securitization bonds
of $423,858 as of December 31, 2018, $544,921 as of
December 31, 2017, and $661,175 as of December 31, 2016)	15,518,303			14,315,259			14,467,655
Other	985,871			393,748			1,121,619
Total	33,767,815			33,480,624			34,419,344
Commitments and Contingencies
Subsidiaries' preferred stock without sinking fund	219,402			197,803			203,185
COMMON EQUITY:
Common stock, $.01 par value, authorized 500,000,000
shares; issued 261,587,009 shares in 2018 and
issued 254,752,788 shares in 2017 and 2016	2,616			2,548			2,548
Paid-in capital	5,951,431			5,433,433			5,417,245
Retained earnings	8,721,150			7,977,702			8,195,571
Accumulated other comprehensive income (loss)	(557,173		)	(23,531		)	(34,971		)
Less – treasury stock, at cost (72,530,866 shares in 2018,
74,235,135 shares in 2017, and 75,623,363 shares in 2016)	5,273,719			5,397,637			5,498,584
Total	8,844,305			7,992,515			8,081,809
TOTAL LIABILITIES AND EQUITY		$48,275,066			$46,707,149			$45,904,434

FINANCIAL RESULTS
2018 CONSOLIDATING BALANCE SHEET (unaudited)
									ENTERGY
In thousands, as of December 31, 2018	UTILITY			PARENT & OTHER			EWC		CONSOLIDATED
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash		$52,362			$4,096			$232		$56,690
Temporary cash investments	207,590			3,792			212,903		424,285
Total cash and cash equivalents	259,952			7,888			213,135		480,975
Notes receivable	—			(511,786		)	511,786		—
Accounts receivable:
Customer	481,059			—			77,435		558,494
Allowance for doubtful accounts	(7,322		)	—			—		(7,322		)
Associated companies	28,949			(32,855		)	3,906		—
Other	157,656			—			10,066		167,722
Accrued unbilled revenues	395,511			—			—		395,511
Total accounts receivable	1,055,853			(32,855		)	91,407		1,114,405
Deferred fuel costs	27,251			—			—		27,251
Fuel inventory – at average cost	113,698			—			3,606		117,304
Materials and supplies – at average cost	719,438			—			33,405		752,843
Deferred nuclear refueling outage costs	147,796			—			83,164		230,960
Prepayments and other	171,199			(16,113		)	79,240		234,326
Total	2,495,187			(552,866		)	1,015,743		2,958,064
OTHER PROPERTY AND INVESTMENTS:
Investment in affiliates – at equity	1,430,792			(1,430,878		)	86		—
Decommissioning trust funds	3,066,588			—			3,853,576		6,920,164
Non-utility property – at cost (less accumulated depreciation)	293,182			(14		)	11,214		304,382
Other	436,981			—			284		437,265
Total	5,227,543			(1,430,892		)	3,865,160		7,661,811
PROPERTY, PLANT AND EQUIPMENT:
Electric	48,275,159			9,585			911,834		49,196,578
Property under capital lease	634,908			—			—		634,908
Natural gas	496,150			—			—		496,150
Construction work in progress	2,815,214			270			73,155		2,888,639
Nuclear fuel	753,513			—			107,759		861,272
Total property, plant and equipment	52,974,944			9,855			1,092,748		54,077,547
Less – accumulated depreciation and amortization	21,430,017			198			672,886		22,103,101
Property, plant and equipment – net	31,544,927			9,657			419,862		31,974,446
DEFERRED DEBITS AND OTHER ASSETS:
Regulatory assets:
Other regulatory assets (includes securitization property of $360,790	4,746,496			—			—		4,746,496
as of December 31, 2018)
Deferred fuel costs	239,496			—			—		239,496
Goodwill	374,099			—			3,073		377,172
Accumulated deferred income taxes	41,969			2,677			9,947		54,593
Other	107,450			10,048			145,490		262,988
Total	5,509,510			12,725			158,510		5,680,745
TOTAL ASSETS		$44,777,167			($1,961,376	)		$5,459,275		$48,275,066
Totals may not foot due to rounding.

FINANCIAL RESULTS
2018 CONSOLIDATING BALANCE SHEET (unaudited)
										ENTERGY
In thousands, as of December 31, 2018	UTILITY			PARENT & OTHER			EWC			CONSOLIDATED
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Currently maturing long-term debt		$650,009			$—			$—			$650,009
Notes payable and commercial paper:
Associated companies	—			(227,298		)	227,298			—
Other	—			1,942,339			—			1,942,339
Accounts payable:
Associated companies	29,135			(51,435		)	22,300			—
Other	1,174,309			45			321,704			1,496,058
Customer deposits	411,505			—			—			411,505
Taxes accrued	267,678			(18,490		)	5,053			254,241
Interest accrued	166,592			26,401			199			193,192
Deferred fuel costs	52,396			—			—			52,396
Obligations under capital leases	1,617			—			—			1,617
Pension and other postretirement liabilities	49,104			—			12,136			61,240
Current portion of unprotected excess accumulated deferred
income taxes	248,127			—			—			248,127
Other	92,168			1,638			39,014			132,820
Total	3,142,640			1,673,200			627,704			5,443,544
NON-CURRENT LIABILITIES:
Accumulated deferred income taxes and taxes accrued	5,458,667			(317,012		)	(1,034,503		)	4,107,152
Accumulated deferred investment tax credits	213,101			—			—			213,101
Obligations under capital leases	20,378			—			—			20,378
Regulatory liability for income taxes - net	1,817,021			—			—			1,817,021
Other regulatory liabilities	1,620,254			—			—			1,620,254
Decommissioning and retirement cost liabilities	3,244,419			—			3,111,124			6,355,543
Accumulated provisions	513,489			—			618			514,107
Pension and other postretirement liabilities	1,937,884			—			678,201			2,616,085
Long-term debt	13,319,111			2,060,192			139,000			15,518,303
Other	740,865			(397,003		)	642,009			985,871
Total	28,885,189			1,346,177			3,536,449			33,767,815
Subsidiaries' preferred stock without sinking fund	195,153			—			24,249			219,402
COMMON EQUITY:
Common stock, $.01 par value, authorized 500,000,000 shares;	1,973,748			(2,172,235		)	201,103			2,616
issued 261,587,009 shares in 2018
Paid-in capital	3,864,764			767,625			1,319,042			5,951,431
Retained earnings	6,931,882			1,577,576			211,692			8,721,150
Accumulated other comprehensive income (loss)	(96,209		)	—			(460,964		)	(557,173		)
Less – treasury stock, at cost (72,530,866 shares in 2018)	120,000			5,153,719			—			5,273,719
Total	12,554,185			(4,980,753		)	1,270,873			8,844,305
TOTAL LIABILITIES AND EQUITY		$44,777,167			($1,961,376	)		$5,459,275			$48,275,066
Totals may not foot due to rounding.

FINANCIAL RESULTS
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited)
In thousands, for the years ended December 31,	2018			2017			2016
OPERATING ACTIVITIES:
Consolidated net income (loss)		$862,555			$425,353			($564,503	)
Adjustments to reconcile consolidated net income (loss)
to net cash flow provided by operating activities:
Depreciation, amortization, and decommissioning, including nuclear fuel amortization	2,040,555			2,078,578			2,123,291
Deferred income taxes, investment tax credits, and non-current taxes accrued	(256,848		)	529,053			(836,257		)
Asset write-offs, impairments, and related charges	491,739			357,251			2,835,637
Changes in working capital:
Receivables	98,546			(97,637		)	(96,975		)
Fuel inventory	45,839			(3,043		)	38,210
Accounts payable	97,312			101,802			174,421
Prepaid taxes and taxes accrued	39,272			33,853			(28,963		)
Interest accrued	5,220			742			(7,335		)
Deferred fuel costs	(25,829		)	56,290			(241,896		)
Other working capital accounts	(164,173		)	(4,331		)	31,197
Changes in provisions for estimated losses	35,706			(3,279		)	20,905
Changes in other regulatory assets	189,193			595,504			(48,469		)
Changes in other regulatory liabilities	(803,323		)	2,915,795			158,031
Deferred tax rate change recognized as regulatory liability / asset	—			(3,665,498		)	—
Changes in pensions and other postretirement liabilities	(304,941		)	(130,686		)	(136,919		)
Other	34,424			(566,247		)	(421,676		)
Net cash flow provided by operating activities	2,385,247			2,623,500			2,998,699
INVESTING ACTIVITIES:
Construction/capital expenditures	(3,942,010		)	(3,607,532		)	(2,780,222		)
Allowance for equity funds used during construction	130,195			96,000			68,345
Nuclear fuel purchases	(302,584		)	(377,324		)	(314,706		)
Payment for purchase of plant or assets	(26,623		)	(16,762		)	(949,329		)
Proceeds from sale of assets and businesses	24,902			100,000			—
Insurance proceeds received for property damages	18,270			26,157			20,968
Changes in securitization account	(5,844		)	1,323			4,007
Payments to storm reserve escrow account	(6,551		)	(2,878		)	(1,544		)
Receipts from storm reserve escrow account	—			11,323			—
Decrease (increase) in other investments	(54,500		)	1,078			9,055
Litigation proceeds for reimbursement of spent nuclear fuel storage costs	59,643			25,493			169,085
Proceeds from nuclear decommissioning trust fund sales	6,484,791			3,162,747			2,408,920
Investment in nuclear decommissioning trust funds	(6,485,676		)	(3,260,674		)	(2,484,627		)
Net cash flow used in investing activities	(4,105,987		)	(3,841,049		)	(3,850,048		)
FINANCING ACTIVITIES:
Proceeds from the issuance of:
Long-term debt	8,035,536			1,809,390			6,800,558
Preferred stock of subsidiary	73,330			14,399			—
Treasury stock	103,315			80,729			33,114
Common stock	499,272			—			—
Retirement of long-term debt	(6,965,738		)	(1,585,681		)	(5,311,324		)
Repurchase/redemptions of preferred stock	(53,868		)	(20,599		)	(115,283		)
Changes in credit borrowings and commercial paper – net	364,031			1,163,296			(79,337		)
Other	26,453			(7,731		)	(6,872		)
Dividends paid:
Common stock	(647,704		)	(628,885		)	(611,835		)
Preferred stock	(14,185		)	(13,940		)	(20,789		)
Net cash flow provided by financing activities	1,420,442			810,978			688,232
Net increase (decrease) in cash and cash equivalents	(300,298		)	(406,571		)	(163,117		)
Cash and cash equivalents at beginning of period	781,273			1,187,844			1,350,961
Cash and cash equivalents at end of period		$480,975			$781,273			$1,187,844

FINANCIAL RESULTS
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited)
$ thousands, for the years ended December 31,	2018	2017		2016
SUPPLEMENTAL DISCLOSURE OF
CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest – net of amount capitalized	734,845	678,371		746,779
Income taxes	19,825	(13,375	)	95,317

CASH FLOW INFORMATION BY BUSINESS
			PARENT &				ENTERGY
For the years ended December 31, 2017, 2016, 2015, 2014, and 2013.	UTILITY		OTHER		EWC		CONSOLIDATED
($ thousands)
2018
Net cash flow provided by 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 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
2016
Net cash flow provided by operating activities	2,860,511		(107,950	)	246,138		2,998,699
Net cash flow provided by (used in) investing activities	(3,671,452	)	(394	)	(178,202	)	(3,850,048	)
Net cash flow provided by (used in) financing activities	938,780		103,847		(354,395	)	688,232
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, 2015	—		2,548	(5,552,379	)	5,403,758		9,393,913		8,951		9,256,791
Consolidated net income (loss) (a)	19,115		—	—		—		(583,618	)	—		(564,503	)
Other comprehensive loss	—		—	—		—		—		(43,922	)	(43,922	)
Common stock issuances related to stock plans	—		—	53,795		13,487		—		—		67,282
Common stock dividends declared	—		—	—		—		(611,835	)	—		(611,835	)
Subsidiaries' capital stock redemptions	—		—	—		—		(2,889	)	—		(2,889	)
Preferred dividend requirements of subsidiaries (a)	(19,115	)	—	—		—		—		—		(19,115	)
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	)
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
(a) Consolidated net income and preferred dividend requirements of subsidiaries for 2018, 2017 and 2016 include $13.9 million, $13.7 million and $19.1 million respectively, 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,	2018			2017			2016
NET INCOME (LOSS)		$862,555			$425,353			($564,503	)
Other comprehensive income (loss)
Cash flow hedges net unrealized gain (loss)
(net of tax expense (benefit) of $5,830, ($22,570) and ($55,298)	22,098			(41,470		)	(101,977		)
for 2018 to 2016, respectively)
Pension and other postretirement liabilities
(net of tax expense (benefit) of $30,299, ($4,057) and ($3,952)	90,143			(61,653		)	(2,842		)
for 2018 to 2016, respectively)
Net unrealized investment gains (losses)
(net of tax expense (benefit) of $6,393, $80,069 and $57,277	(28,771		)	115,311			62,177
for 2018 to 2016, respectively)
Foreign currency translation
(net of tax expense (benefit) of $-, $403 and $689
for 2018 to 2016, respectively)	—			(748		)	(1,280		)
Other comprehensive income (loss)	83,470			11,440			(43,922		)
COMPREHENSIVE INCOME (LOSS)	946,025			436,793			(608,425		)
Preferred dividend requirements of subsidiaries	13,894			13,741			19,115
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION		$932,131			$423,052			($627,540	)

CONSOLIDATED CAPITAL EXPENDITURES
HISTORICAL CAPITAL EXPENDITURES
($ millions)	2018	2017	2016
Utility
Generation	1,599	1,325	1,728
Transmission	895	887	750
Distribution	862	833	771
Other	434	400	293
Entergy Wholesale Commodities	178	179	188
Total Historical Capital Expenditures	3,968	3,624	3,730

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	2018	2017
	$3.5B Bank Credit Facility	3.60%	09/23 (b)			$ 220	$ 210
	Commercial Paper (a)	2.50%				1,942	1,467
29364GAF0	5.125% Notes	5.13%	09/20	Now	MW (T+.40%)	450	450
29364GAH6	4.00% Notes	4.0%	07/22	Now	MW (T+.30%)	650	650
29364GAJ2	2.95% Notes	2.95%	09/26	Now	MW (T+.25%)	750	750
	Total					$ 4,012	$ 3,527
(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 2018.

SECURITIES RATINGS (OUTLOOK)
	ISSUER RATING	CORPORATE CREDIT
As of 6/14/19	MOODY’S	S&P
Entergy Corporation	Baa2 (stable)	BBB+ (stable)

					CALL PRICE
				AS OF	PER SHARE
PREFERRED MEMBER INTERESTS			DECEMBER 31,		AS OF DECEMBER 31,
CUSIP	DESCRIPTION	RATE	2018	2017	2018
	Held by Entergy Louisiana:
None	Class A preferred non-voting membership interest units of Entergy Holdings Co. LLC	10.00%	$ 684	$ 684	$100.00
	(6,843,780 units in 2018 and 2017) (a)
None	Class B preferred non-voting membership interest units of Entergy Holdings Co. LLC	9.00%	413	413	100.00
	(4,126,940 units in 2018 and 2017) (a)
None	Class C preferred non-voting membership interest units of Entergy Holdings Co. LLC	7.50%	294	294	100.00
	(2,935,153 units in 2018 and 2017) (a)
	Held by Entergy Corporation:
None	Class D preferred non-voting membership interest units of Entergy Holdings Co. LLC	5.00%	734	734	100.00
	(7,340,750 units in 2018 and 2017) (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	100.00
	(2,559,250 units in 2018 and 2017) (a)
	Preferred member interests		$ 1,391	$ 1,391
OTHER NON-CURRENT LIABILITIES:
None	Class A preferred non-voting membership interest units of Entergy Holdings Co. LLC	10.00%	$ 50	$ 50	100.00
	(500,000 units in 2018 and 2017) (a)(b)
	Other non-current liabilities		$ 50	$ 50
	Total		$ 1,441	$ 1,441
(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
	2018					2017						FY %
	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q		FY	CHANGE
GAAP MEASURES
As-Reported Net Income ($ millions)	215	376	505	388	1,484	165	244	401	(47	)	762	94.8
As-Reported Net Revenue ($ millions)	1,460	1,370	1,558	1,238	5,626	1,404	1,549	1,811	1,553		6,318	(11.0	)
As-Reported Non-Fuel O&M ($ millions)	629	663	673	687	2,652	594	632	625	719		2,570	3.2
ROIC – As-Reported (%)(a)	5.1	5.5	5.8	7.5	7.5	6.4	5.7	5.4	4.7		4.7	59.2
ROE – As-Reported (%)(a)	7.5	8.4	9.0	12.6	12.6	10.8	9.3	8.7	7.1		7.1	77.4
Debt to Capital Ratio (%)	55.2	53.2	52.8	52.3	52.3	53.6	54.4	53.5	53.9		53.9	(2.9	)
NON-GAAP MEASURES
Adjusted Earnings ($ millions)	215	332	505	209	1,261	165	244	401	133		942	33.8
Adjusted Net Revenue ($ millions)	1,460	1,370	1,558	1,278	5,665	1,404	1,549	1,811	1,498		6,263	(9.5	)
Adjusted Non-Fuel O&M ($ millions)	629	663	673	687	2,652	594	632	625	719		2,570	3.2
ROIC – Adjusted (%)(a)	5.8	6.1	6.4	6.6	6.6	5.8	5.7	5.4	5.5		5.5	20.8
ROE – Adjusted (%)(a)	9.2	9.6	10.2	10.7	10.7	9.5	9.3	8.7	8.8		8.8	21.8
Debt to Capital Ratio,      excluding securitization debt (%)	54.3	52.3	51.9	51.6	51.6	52.3	53.2	52.3	52.8		52.8	(2.4	)
Net Debt to Net Capital Ratio,      excluding securitization debt (%)	52.5	51.1	50.4	51.1	51.1	51.3	51.8	51.7	51.7		51.7	(1.2	)
(a) Rolling twelve months. Totals may not foot due to rounding.

UTILITY ANNUAL FINANCIAL METRICS
	2018	2017	2016
GAAP MEASURES
As-Reported Net Income ($ millions)	1,484	762	1,134
As-Reported Net Revenue ($ millions)	5,626	6,318	6,179
As-Reported Non-Fuel O&M ($ millions)	2,652	2,570	2,407
ROIC – As-Reported (%)(a)	7.5	4.7	6.8
ROE – As-Reported (%)(a)	12.6	7.1	11.3
Debt to Capital Ratio (%)	52.3	53.9	53.8
NON-GAAP MEASURES
Adjusted Earnings ($ millions)	1,261	942	1,008
Adjusted Net Revenue ($ millions)	5,665	6,263	6,196
Adjusted Non-Fuel O&M ($ millions)	2,652	2,570	2,407
ROIC – Adjusted (%)(a)	6.6	5.5	6.2
ROE – Adjusted (%)(a)	10.7	8.8	10.1
Debt to Capital Ratio, excluding securitization debt (%)	51.6	52.8	52.4
Net Debt to Net Capital Ratio, excluding securitization debt (%)	51.1	51.7	50.7

UTILITY SECURITIES RATINGS (OUTLOOK)
	MORTGAGE BONDS
As of 5/14/19	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 (stable)	A (stable)
System Energy Resources, Inc.	Baa1 (stable)	A (stable)

UTILITY HISTORICAL CAPITAL EXPENDITURES(a)
($ millions)	2018	2017	2016
Entergy Arkansas	660	736	904
Entergy Louisiana	1,832	1,673	1,505
Entergy Mississippi	387	435	310
Entergy New Orleans	202	115	328
Entergy Texas	452	348	338
System Energy Resources	195	92	88
Other(b)	62	46	69
Total	3,790	3,445	3,542
(a) Historical capital expenditures include storm capital spending.
(b) Corresponds to Entergy Services, LLC, Entergy Operations, Inc., and System Fuels, Inc.

UTILITY FINANCIAL RESULTS
2018 UTILITY CONSOLIDATING INCOME STATEMENT (unaudited)
																			OTHER/
In thousands, for the year ending December 31, 2018.	E-AR			E-LA			E-MS			E-NO			E-TX			SERI			ELIMINATIONS(a)			UTILITY
OPERATING REVENUES:
Electric		$2,060,643			$4,232,541			$1,335,112			$624,733			$1,605,902			$456,707			($931,404	)		$9,384,234
Natural gas	—			63,779			—			92,657			—			—			—			156,436
Total	2,060,643			4,296,320			1,335,112			717,390			1,605,902			456,707			(931,404		)	9,540,670
OPERATING EXPENSES:
Operation and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale	517,245			915,410			260,198			114,787			204,830			64,778			(6,570		)	2,070,678
Purchased power	252,390			960,272			364,575			270,634			614,012			—			(918,413		)	1,543,470
Nuclear refueling outage expenses	77,915			51,626			—			—			—			20,715			(1		)	150,255
Other operation and maintenance	724,831			959,185			261,613			124,293			238,400			196,505			(3,458		)	2,501,369
Decommissioning	60,420			53,736			—			—			—			34,336			1,132			149,624
Taxes other than income taxes	104,771			183,745			101,999			56,141			82,033			28,090			5,206			561,985
Depreciation and amortization	292,649			492,179			152,577			55,930			128,534			97,527			(1,076		)	1,218,320
Other regulatory charges (credits) – net	(14,807		)	4,396			147,704			21,413			131,667			(28,924		)	39,599			301,049
Total	2,015,414			3,620,549			1,288,666			643,198			1,399,476			413,027			(883,581		)	8,496,750
OPERATING INCOME	45,229			675,771			46,446			74,192			206,426			43,680			(47,823		)	1,043,920
OTHER INCOME:
Allowance for equity funds used during construction	16,557			79,922			8,710			5,941			9,723			8,750			—			129,602
Interest and investment income	25,406			141,882			135			604			2,188			35,985			(2,264		)	203,936
Miscellaneous – net	(14,874		)	(27,530		)	(2,732		)	(10,444		)	(655		)	(5,775		)	(19		)	(62,026		)
Total	27,089			194,274			6,113			(3,899		)	11,256			38,960			(2,283		)	271,512
INTEREST EXPENSE:
Interest expense	124,459			288,658			55,905			21,772			87,203			38,424			(2,528		)	613,893
Allowance for borrowed funds used during construction	(7,781		)	(39,616		)	(3,651		)	(2,195		)	(5,513		)	(2,218		)	(1		)	(60,974		)
Total	116,678			249,042			52,254			19,577			81,690			36,206			(2,529		)	552,919
INCOME BEFORE INCOME TAXES	(44,360		)	621,003			305			50,716			135,992			46,434			(47,577		)	762,513
Income taxes	(297,067		)	(54,611		)	(125,773		)	(2,436		)	(26,243		)	(47,675		)	(178,779		)	(732,584		)
NET INCOME	252,707			675,614			126,078			53,152			162,235			94,109			131,202			1,495,097
Preferred dividend requirements and other	1,249			—			834			—			—			—			9,623			11,706
EARNINGS APPLICABLE TO
COMMON STOCK/EQUITY		$251,458			$675,614			$125,244			$53,152			$162,235			$94,109			$121,579			$1,483,391
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
2018 UTILITY CONSOLIDATING BALANCE SHEET (unaudited)
																		OTHER/
In thousands, as of December 31, 2018.	E-AR			E-LA			E-MS			E-NO			E-TX			SERI		ELIMINATIONS(a)			UTILITY
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash		$118			$252			$11			$26			$26			$68		$51,861			$52,362
Temporary cash investments	1			43,112			36,943			19,651			30			95,617		12,236			207,590
Total cash and cash equivalents	119			43,364			36,954			19,677			56			95,685		64,097			259,952
Securitization recovery trust account	4,666			—			—			2,224			40,185			—		(47,075		)
Accounts receivable:
Customer	94,348			199,903			73,205			43,890			69,714			—		—			481,059
Allowance for doubtful accounts	(1,264		)	(1,813		)	(563		)	(3,222		)	(461		)	—		1			(7,322		)
Associated companies	48,184			123,363			51,065			27,938			64,441			148,571		(434,613		)	28,949
Other	64,393			60,879			8,647			4,090			12,275			5,390		1,982			157,656
Accrued unbilled revenues	108,092			167,052			50,171			18,907			51,288			—		2			395,511
Total account receivable	313,753			549,384			182,525			91,603			197,257			153,961		(432,628		)	1,055,853
Deferred fuel costs	19,235			—			8,016			—			—			—		—			27,251
Fuel inventory – at average cost	23,148			34,418			11,931			1,533			42,667			—		1			113,698
Materials and supplies – at average cost	196,314			324,627			47,255			12,133			41,883			97,225		—			719,438
Deferred nuclear refueling outage costs	78,966			24,406			—			—			—			44,424		1			147,796
Prepaid taxes	—			—			—			—			—			5,415		(5,415		)	—
Prepayments and other	14,553			38,715			9,365			6,905			15,903			2,985		82,773			171,199
Total	650,754			1,014,914			296,046			134,075			337,951			399,695		(338,246		)	2,495,187
OTHER PROPERTY AND INVESTMENTS:
Investment in affiliates – at equity	—			1,390,587			—			—			448			—		39,757			1,430,792
Decommissioning trust funds	912,049			1,284,996			—			—			—			869,543		—			3,066,588
Non-utility property – at cost (less accumulated depreciation)	—			286,555			4,576			1,016			376			—		659			293,182
Storm reserve escrow account	—			289,525			—			80,853			—			—		(370,378		)	—
Escrow accounts	—			—			32,447			—			—			—		(32,447		)	—
Other	5,480			14,927			—			—			19,218			—		397,356			436,981
Total	917,529			3,266,590			37,023			81,869			20,042			869,543		34,947			5,227,543
PROPERTY, PLANT AND EQUIPMENT
Electric	11,611,041			20,532,312			4,780,720			1,364,091			4,773,984			4,433,346		779,665			48,275,159
Property under capital lease	—			—			—			—			—			602,770		32,138			634,908
Natural gas	—			211,421			—			284,728			—			—		1			496,150
Construction work in progress	243,731			1,864,582			128,149			146,668			325,193			70,156		36,735			2,815,214
Nuclear fuel	220,602			298,022			—			—			—			234,889		—			753,513
Total property, plant and equipment	12,075,374			22,906,337			4,908,869			1,795,487			5,099,177			5,341,161		848,539			52,974,944
Less – accumulated depreciation and amortization	4,864,818			8,837,596			1,641,821			670,135			1,684,569			3,212,080		518,998			21,430,017
Property, plant and equipment – net	7,210,556			14,068,741			3,267,048			1,125,352			3,414,608			2,129,081		329,541			31,544,927
DEFERRED DEBITS AND OTHER ASSETS:
Regulatory assets:
Regulatory asset for income taxes - net	—			—			—			—			—			—		—			—
Other regulatory assets (includes securitization property
of $350,871 as of December 31, 2018)	1,534,977			1,105,077			343,049			229,796			598,048			446,371		489,178			4,746,496
Deferred fuel costs	67,294			168,122			—			4,080			—			—		—			239,496
Goodwill	—			—			—			—			—			—		374,099			374,099
Accumulated deferred income taxes	—			—			—			—			—			—		41,969			41,969
Other	20,486			28,371			3,638			1,416			29,371			4,124		20,044			107,450
Total	1,622,757			1,301,570			346,687			235,292			627,419			450,495		925,290			5,509,510
TOTAL ASSETS		$10,401,596			$19,651,815			$3,946,804			$1,576,588			$4,400,020			$3,848,814		$951,530			$44,777,167
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
2018 UTILITY CONSOLIDATING BALANCE SHEET (unaudited)
														OTHER/
In thousands, as of December 31, 2018.	E-AR		E-LA			E-MS		E-NO		E-TX		SERI		ELIMINATIONS(a)			UTILITY
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Currently maturing long-term debt		$—		$2			$150,000		$—		$500,000		$6		$—			$650,009
Short-term borrowings	—		—			—		—		—		—		—			—
Notes payable and commercial paper:
Associated companies	—		—			—		1,979		—		—		(1,979		)	—
Other	—		—			—		—		—		—		—			—
Accounts payable:
Associated companies	251,768		102,749			42,928		43,416		119,371		11,031		(542,128		)	29,135
Other	187,387		390,367			79,117		36,686		150,679		47,565		282,508			1,174,309
Customer deposits	99,053		155,314			85,085		28,667		43,387		—		—			411,505
Taxes accrued	56,889		30,868			77,552		4,068		53,513		—		44,788			267,678
Interest accrued	18,893		83,450			20,231		6,366		24,355		13,295		2			166,592
Deferred fuel costs	—		31,411			—		1,288		19,697		—		—			52,396
Current portion of unprotected excess accumulated deferred income taxes	99,316		31,457			—		25,301		87,627		4,426		—			248,127
Obligations under capital leases	—		—			—		—		—		—		1,617			1,617
Pension and other postretirement liabilities	—		—			—		—		—		—		49,104			49,104
Other	23,943		49,202			7,526		9,521		6,353		2,832		(7,209		)	92,168
Total	737,249		874,820			462,439		157,292		1,004,982		79,155		(173,297		)	3,142,640
NON-CURRENT LIABILITIES:
Accumulated deferred income taxes and taxes accrued	1,085,545		2,226,721			551,869		323,595		552,535		805,296		(86,894		)	5,458,667
Accumulated deferred investment tax credits	32,903		116,999			10,186		2,219		11,176		38,673		945			213,101
Obligations under capital leases	—		—			—		—		—		—		20,378			20,378
Regulatory liability for income taxes - net	505,748		581,001			246,402		60,249		264,623		158,998		(1		)	1,817,021
Other regulatory liabilities	402,668		748,784			33,622		—		47,884		381,887		5,409			1,620,254
Decommissioning and asset retirement cost liabilities	1,048,428		1,280,272			9,206		3,291		7,222		896,000		(1		)	3,244,419
Accumulated provisions	48,979		310,755			51,142		86,594		13,856		—		2,163			513,489
Pension and other postretirement liabilities	313,295		643,171			93,100		5,626		4,834		98,639		779,219			1,937,884
Long-term debt (includes securitization bonds
of $423,859 as of December 31, 2018)	3,225,759		6,805,766			1,175,750		467,358		1,013,735		630,744		(1		)	13,319,111
Long-term payable - associated companies	—		—			—		14,367		—		—		(14,367		)	—
Other	17,919		160,608			20,862		11,047		56,771		22,224		451,436			740,865
Total	6,681,244		12,874,077			2,192,139		974,346		1,972,636		3,032,461		1,158,286			28,885,189
Commitments and Contingencies
Preferred stock without sinking fund	—		—			—		—		—		—		195,153			195,153
EQUITY:
Common stock or member's equity	2,983,103		5,909,071			1,292,226		444,950		49,452		601,850		(9,306,904		)	1,973,748
Paid-in capital/capital stock expense and other	—		—			—		—		596,994		—		3,267,770			3,864,764
Retained earnings	—		—			—		—		775,956		135,348		6,020,578			6,931,882
Accumulated other comprehensive (loss)	—		(6,153		)	—		—		—		—		(90,056		)	(96,209		)
Less – treasury stock, at cost	—		—			—		—		—		—		120,000			120,000
Total	2,983,103		5,902,918			1,292,226		444,950		1,422,402		737,198		(228,612		)	12,554,185
TOTAL LIABILITIES AND EQUITY		$10,401,596		$19,651,815			$3,946,804		$1,576,588		$4,400,020		$3,848,814		$951,530			$44,777,167
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
	2018		2017		2016
ENTERGY ARKANSAS, LLC
As-Reported Earnings ($ millions)	252		138		162
Less Adjustments ($ millions)	(2	)	3		—
Adjusted Earnings ($ millions)	254		135		162
GAAP MEASURES
ROIC – As-Reported (%)	5.8		4.0		4.8
Return on Average Member's Equity – As-Reported (%)	9.4		6.0		7.8
Debt to Capital (%)	52.0		55.5		55.3
Total Debt ($ millions)	3,226		3,002		2,831
Total Preferred ($ millions)	—		31		31
Total Equity ($ millions)	2,983		2,377		2,253
NON-GAAP MEASURES
ROIC – Adjusted (%)	5.9		4.0		4.8
Return on Average Member's Equity – Adjusted (%)	9.5		5.8		7.8
Total Debt, excluding securitization debt ($ millions)	3,205		2,968		2,783
Debt to Capital, excluding securitization debt (%)	51.8		55.2		54.9
Net Debt to Net Capital, excluding securitization debt (%)	51.8		55.2		54.7
Totals may not foot due to rounding.
ENTERGY LOUISIANA, LLC
As-Reported Earnings ($ millions)	676		316		622
Less Adjustments ($ millions)	50		(183	)	126
Adjusted Earnings ($ millions)	626		499		496
GAAP MEASURES
ROIC – As-Reported (%)	7.1		4.2		7.6
Return on Average Members’ Equity – As-Reported (%)	12.1		6.1		12.7
Debt to Capital (%)	53.6		53.8		53.4
Total Debt ($ millions)	6,806		6,188		5,817
Total Preferred ($ millions)	—		—		—
Total Equity ($ millions)	5,903		5,309		5,082
NON-GAAP MEASURES
ROIC – Adjusted (%)	6.7		5.9		6.5
Return on Average Member's Equity – Adjusted (%)	11.2		9.6		10.1
Total Debt, excluding securitization debt ($ millions)	6,750		6,110		5,717
Debt to Capital, excluding securitization debt (%)	53.3		53.5		52.9
Net Debt to Net Capital, excluding securitization debt (%)	53.2		53.4		52.0
Totals may not foot due to rounding.

UTILITY FINANCIAL RESULTS
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED)
	2018		2017		2016
ENTERGY MISSISSIPPI, LLC
As-Reported Earnings ($ millions)	125		109		106.7
Less Adjustments ($ millions)	(1	)	(3	)	—
Adjusted Earnings ($ millions)	126		113		107
GAAP MEASURES
ROIC – As-Reported (%)	6.5		5.9		6.6
Return on Average Member's Equity – As-Reported (%)	10.1		9.6		10.1
Debt to Capital (%)	50.6		51.5		50.2
Total Debt ($ millions)	1,326		1,270		1,121
Total Preferred ($ millions)	—		20		20
Total Equity ($ millions)	1,292		1,178		1,095
NON-GAAP MEASURES
ROIC – Adjusted (%)	6.5		6.1		6.6
Return on Average Member's Equity – Adjusted (%)	10.2		9.9		10.1
Net Debt to Net Capital (%)	49.9		51.3		48.4
Totals may not foot due to rounding.
ENTERGY NEW ORLEANS, LLC
As-Reported Earnings ($ millions)	53		44		48
Less Adjustments ($ millions)	—		(6	)	—
Adjusted Earnings ($ millions)	53		50		48
GAAP MEASURES
ROIC – As-Reported (%)	7.6		6.5		7.7
Return on Average Member's Equity – As-Reported (%)	12.4		10.4		12.3
Debt to Capital (%)	52.1		51.3		50.1
Total Debt ($ millions)	484		437		449
Total Preferred ($ millions)	—		—		20
Total Equity ($ millions)	445		416		427
NON-GAAP MEASURES
ROIC – Adjusted (%)	8.2		8.0		8.6
Return on Average Member's Equity – Adjusted (%)	12.4		11.8		12.3
Total Debt, excluding securitization debt ($ millions)	420		362		364
Debt to Capital, excluding securitization debt (%)	48.6		46.6		44.9
Net debt to net capital, excluding securitization debt	47.4		44.2		36.9
Totals may not foot due to rounding.
ENTERGY TEXAS, INC.
As-Reported Net Income ($ millions)	162		76		108
Less Adjustments ($ millions)	37		(3	)	1
Adjusted Net Income ($ millions)	125		79		107
GAAP MEASURES
ROIC – As-Reported (%)	7.8		4.7		6.4
ROE – As-Reported (%)	12.1		6.5		10.6
Debt to Capital (%)	51.6		55.7		58.5
Total Debt ($ millions)	1,514		1,587		1,508
Total Preferred ($ millions)	—		—		—
Total Equity ($ millions)	1,422		1,260		1,069
NON-GAAP MEASURES
ROIC – Adjusted (%)	7.4		5.6		7.8
ROE – Adjusted (%)	9.3		6.8		10.5
Total Debt, excluding securitization debt ($ millions)	1,230		1,229		1,079
Debt to Capital, excluding securitization debt (%)	46.4		49.4		50.2
Net Debt to Net Capital, excluding securitization debt (%)	46.4		46.9		50.1
Totals may not foot due to rounding.

UTILITY FINANCIAL RESULTS
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED)
	2018	2017	2016
SYSTEM ENERGY RESOURCES, INC.
As-Reported Net Income ($ millions)	94	79	97
Less Adjustments ($ millions)	—	—	—
Adjusted Earnings ($ millions)	94	79	97
GAAP MEASURES
ROIC – As-Reported (%)	9.2	7.6	8.8
ROE – As-Reported (%)	13.0	10.8	12.7
Debt to Capital (%)	46.1	44.5	45.5
Total Debt ($ millions)	631	569	618
Total Preferred ($ millions)	—	—	—
Total Equity ($ millions)	737	711	739
NON-GAAP MEASURES
ROIC – Adjusted (%)	9.2	7.6	8.8
ROE – Adjusted (%)	13.0	10.8	12.7
Net Debt to Net Capital (%)	42.1	28.5	33.5
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			2018			2017
($ 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			—
29364DAT7	4.95% Series	M	4.95	%	12/44	Now	MW (T + .30%)			250			250
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									2,855			2,605
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		3.48	%	9/21					60			25
29365YAA1	2.30% Series Senior Secured – Securitization Bond		2.30	%	8/21	Non-Call Life				22			36
	Long-Term United States Department of Energy Obligation(b)									187			183
	Unamortized Premium and Discount – Net									4			5
	Unamortized Debt Issuance Costs									(34		)	(34		)
	Other									2			2
TOTAL LONG-TERM DEBT										3,226			2,952
Less Amount Due Within One Year										—			—
Long-Term Debt Excluding Amount Due Within One Year										3,226			2,952
Fair Value of Long-Term Debt(c)										$	3,003		$	2,866
Weighted-average annualized coupon rate (e)										4		%	4		%
*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 214 of 2018 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.

			SHARES
			AUTHORIZED AND OUTSTANDING
PREFERRED STOCK:			AS OF DECEMBER 31,		AS OF DECEMBER 31,
CUSIP		RATE	2018	2017	2018		2017
($ millions)
	Without sinking fund:
	Cumulative, $100 par value:
29364D209	4.32% Series	4.32%	—	70,000		$—		$7
29364D506	4.72% Series	4.72%	—	93,500	—		9
29364D308	4.56% Series	4.56%	—	75,000	—		8
29364D407	4.56% 1965 Series	4.56%	—	75,000	—		8
	Total without sinking fund		—	313,500		$—		$31
Totals may not foot due to rounding.
ENTERGY UTILITY HOLDING COMPANY, LLC
			SHARES
			AUTHORIZED AND OUTSTANDING
PREFERRED STOCK:			AS OF DECEMBER 31,		AS OF DECEMBER 31,
CUSIP		RATE	2018	2017	2018		2017
($ 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		73
	Total without sinking fund		125,000	125,000		$195		$122
(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

DATE

CALL PRICE

2018

2017

($ millions)

29365PAN2

6.0% Series

M

6.00%

05/18

Now

MW (T + .40%)

$—

$375

29364WAJ7

6.50% Series

M

6.50%

09/18

Now

MW (T + .40%)

—

300

29365PAQ5

3.95% Series

M

3.95%

10/20

Now

MW (T + .25%)

250

250

29364WAN8

4.8% Series

M

4.80%

5/21

Now

MW (T + .25%)

200

200

29364WAR9

3.30% Series

M

3.30%

12/22

Now

MW (T + .25%)

200

200

29364WAS7

4.05% Series

M

4.05%

9/23

Now

MW (T + .20%)

325

325

29365PAP7

5.59% Series

M

5.59%

10/24

Now

MW (T + .40%)

300

300

29364WAK4

5.40% Series

M

5.40%

11/24

Now

MW (T + .35%)

400

400

29365PAR3

3.78% Series

M

3.78%

4/25

Now

MW (T + .20%)

110

110

29364WAU2

3.78% Series

M

3.78%

4/25

Now

MW (T + .20%)

190

190

29364WAM0

4.44% Series

M

4.44%

1/26

Now

MW (T + .30%)

250

250

29364WAY4

2.4% Series

M

2.40%

10/26

Now

MW (T + .15%)

400

400

29364WAZ1

3.12% Series

M

3.12%

9/27

Now

MW (T + .15%)

450

450

29364WAW8

3.25% Series

M

3.25%

4/28

Now

MW (T + .25%)

425

425

29364WAX6

3.05% Series

M

3.05%

6/31

Now

MW (T + .25%)

325

325

29364WBA5

4.0% Series

M

4.00%

3/33

Now

MW (T + .20%)

750

—

29364WAT5

5.0% Series

M

5.00%

7/44

Now

MW (T + .25%)

170

170

29364WAV0

4.95% Series

M

4.95%

1/45

Now

MW (T + .30%)

450

450

29364WBB3

4.2% Series

M

4.20%

9/48

Now

MW (T + .20%)

600

—

29364W504

5.25% Series

M

5.25%

7/52

Now

100%

200

200

29364W603

4.7% Series

M

4.70%

6/63

Now

100%

100

100

29364W108

4.875% Series

M

4.88%

9/66

9/1/21

100%

270

270

5463984Y1

3.375% Series – Louisiana Public Facilities Authority

G(a,c)

3.38%

9/28

3/1/21

100%

84

84

5463984Z8

3.5% Series – Louisiana Public Facilities Authority

G(a,c)

3.50%

6/30

6/1/21

100%

115

115

Total bonds

6,564

5,889

OTHER LONG-TERM DEBT:

76083@AT4

3.38% Series R – Variable Interest Entity Note Payable

3.38%

8/20

Now

MW (T + .50%)

70

70

76822*AM8

3.92% Series H – Variable Interest Entity Note Payable

3.92%

2/21

Now

MW (T + .50%)

40

40

76822*AN6

3.22% Series I – Variable Interest Entity Note Payable

3.22%

12/23

Now

MW (T + .50%)

20

20

Credit Facility - Variable Interest Entity - River Bend

3.44%

9/21

39

66

Credit Facility - Variable Interest Entity - Waterford

3.35%

9/21

82

36

29366AAA2

2.04% Series Senior Secured - Securitization Bond

2.04%

6/21

57

79

Unamortized Premium and Discount – Net

(15

)

(14

)

Unamortized Debt Issuance Costs

(57

)

(49

)

Other

7

7

TOTAL LONG-TERM DEBT

6,806

6,144

Less Amount Due Within One Year

2

675

Long-Term Debt Excluding Amount Due Within One Year

$6,804

$5,469

Fair Value of Long-Term Debt(b)

$6,834

$6,390

Weighted-average annualized coupon rate (d)

4.1%

4.3%

*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 214 of 2018 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.

(c) The bonds are secured by a series of collateral first mortgage bonds.

(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

DATE

CALL PRICE

2018

2017

($ millions)

29364NAP3

6.64% Series

M

6.64%

7/19

Now

MW (T + .50%)

$150

$150

29364NAR9

3.1% Series

M

3.10%

7/23

Now

MW (T + .25%)

250

250

29364NAS7

3.75% Series

M

3.75%

7/24

Now

MW (T + .15%)

100

100

29364NAU2

3.25% Series

M

3.25%

12/27

Now

MW (T + .15%)

150

150

29364NAT5

2.85% Series

M

2.85%

6/28

Now

MW (T + .20%)

375

375

29365*AA6

4.52% Series

M

4.52%

12/38

Now

MW (T + .50%)

55

—

29364N108

4.90% Series

M

4.90%

7/24

10/1/21

100%

260

260

Total bonds

1,340

1,285

OTHER LONG-TERM DEBT:

Unamortized Premium and Discount – Net

(1

)

(1

)

Unamortized Debt Issuance Cost

(13

)

(14

)

TOTAL LONG-TERM DEBT

1,326

1,270

Less Amount Due Within One Year

150

—

Long-Term Debt Excluding Amount Due Within One Year

$1,176

$1,270

Fair Value of Long-Term Debt(a)

$1,276

$1,286

Weighted-average annualized coupon rate (B)

3.9%

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 214 of 2018 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.

			SHARES
			AUTHORIZED AND OUTSTANDING
PREFERRED STOCK:			AS OF DECEMBER 31,				AS OF DECEMBER 31,
CUSIP		RATE	2018		2017		2018		2017
($ millions)
	Without sinking fund:
	Cumulative, $100 par value:
29364N207	4.36% Series	4.36%		$—		$59,920		$—		$6
29364N306	4.56% Series	4.56%	—		43,887		—		4
29364N405	4.92% Series	4.92%	—		100,000		—		10
	Total without sinking fund			$203,807		$203,807		$20		$20

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			—
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			350
OTHER LONG-TERM DEBT:
29277VAA4	2.67% Series Senior Secured - Securitization Bond		2.67%	06/27				66			77
	Payable to Entergy Louisiana			11/35				16			18
	Unamortized Premium and Discount – Net							—			—
	Unamortized Debt Issuance Cost							(8		)	(8		)
TOTAL LONG-TERM DEBT								484			437
Less Amount Due Within One Year								2			2
Long-Term Debt Excluding Amount Due Within One Year									$482			$435
Fair Value of Long-Term Debt(a)									$492			$456
Weighted-average annualized coupon rate (B)								4.7%			4.3%
*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 214 of 2018 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		2018			2017
($ millions)
29365TAA2	7.125% Series	M	7.13%	2/19	Now	MW (T + .50%)			$500			$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
29365TAD6	5.15% Series	M	5.15%	6/45	Now	MW (T + .35%)		250			250
29365T104	5.625% Series	M	5.63%	6/64	6/1/19	100%		135			135
	Total bonds							1,235			1,235
OTHER LONG-TERM DEBT:
29365KAB9	3.65% Series Senior Secured, Series A - Securitization Bond		3.65%	8/19				—			31
29365QAC4	5.93% Series Senior Secured, Series A - Securitization Bond		5.93%	6/22				81			110
29365KAC7	4.38% Series Senior Secured - Securitization Bond		4.38%	11/23				204			219
	Unamortized Premium and Discount – Net							(1		)	(1		)
	Unamortized Debt Issuance Costs							(9		)	(10		)
	Other							4			4
TOTAL LONG-TERM DEBT								1,514			1,587
Less Amount Due Within One Year								500			—
Long-Term Debt Excluding Amount Due Within One Year									$1,014			$1,587
Fair Value of Long-Term Debt(a)									$1,529			$1,662
Weighted-average annualized coupon rate (b)								5.3%			5.3%
*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 214 of 2018 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.

SYSTEM ENERGY RESOURCES, INC.
							CURRENT
BONDS:				MATURITY	FIRST CALL	OR FIRST		AS OF DECEMBER 31,
CUSIP		TYPE*	RATE	DATE	DATE	CALL PRICE		2018			2017
($ 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				—			85
76823#AT8	3.42% Series J – Variable Interest Entity Note Payable		3.42%	4/21				100			—
	Credit Facility – Variable Interest Entity		3.44%	05/19				114			50
361561AA1	Grand Gulf Lease Obligation 5.13%		5.13%					34			34
	Unamortized Premium and Discount – Net							—			—
	Unamortized Debt Issuance Costs							(1		)	(1		)
	Other							—			—
TOTAL LONG-TERM DEBT								631			551
Less Amount Due Within One Year								—			85
Long-Term Debt Excluding Amount Due Within One Year									$631			$466
Fair Value of Long-Term Debt(b)									$596			$529
Weighted-average annualized coupon rate (c)								5.6%			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 214 of 2018 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, 2018	PLANTS	UNITS	(MW)(a)	(MW)(b)
Plants that use fuel type:
Gas/Oil	22	47	13,762	14,632
Coal	3	5	2,230	3,838
Petroleum Coke	1	2	—	203
Total Fossil	26	54	15,992	18,673
Hydro	3	7	73	153
Nuclear	4	5	5,204	5,343
Solar	4	4	2	2
Total Capability	37	70	21,271	24,171
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
	2018		2017	2016
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	51,093		46,221	51,976
Coal	11,848		10,730	9,164
Nuclear	36,242		34,695	35,871
Hydro	160		93	184
Solar	4		4	2
Total Net Generation	99,347		91,743	97,197
Purchased Power:
Affiliated Companies	—		—	—
Non-affiliated Companies	33,973		37,535	31,251
Total Purchased Power	33,973		37,535	31,251
Total Sources of Energy	133,320		129,278	128,448
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	37,107		33,834	35,112
Commercial	29,426		28,745	29,197
Industrial	48,384		47,769	45,739
Governmental	2,581		2,511	2,547
Total Retail	117,498		112,859	112,595
Sales for Resale	11,715		11,550	11,054
Unbilled Energy	(513	)	364	406
Total Electric Energy Sales	128,700		124,773	124,055
Line Losses and Company Usage	4,620		4,505	4,393
Total Uses of Energy	133,320		129,278	128,448
Electric Energy Sales (Weather Adjusted)(GWh):
Residential	35,876		35,692	35,362
Commercial	29,047		29,015	28,767
Industrial	48,384		47,769	45,739
Governmental	2,566		2,519	2,540
Total Weather Adjusted Sales	115,873		114,995	112,408
Peak Demand (MW)	21,587		21,671	21,387
Operational Summer Capacity at Peak (MW)	23,121		24,279	24,656
Annual System Load Factor (%)	65		62	63
Retail Electric Sales Growth Rate (%)	4.1		0.2	0.3
Retail Electric Sales Weather-Adjusted Growth Rate (%)	0.8		2.3	1.0
Average Fuel Cost (cents/KWh)
Natural Gas	2.84		2.60	2.44
Nuclear Fuel	0.84		0.86	0.63
Coal	2.24		2.35	2.65
Purchased Power	5.23		4.02	3.71
MISO Purchases	3.71		3.09	3.13
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	807,098		1,244,413		578,568		261,585		673,858		—		—		3,565,522		38%
Commercial	425,523		941,321		461,832		217,182		380,619		—		—		2,426,477		26%
Industrial	434,387		1,462,462		175,056		33,371		393,951		—		—		2,499,227		27%
Governmental	16,537		68,587		43,747		72,057		24,953		—		—		225,881		2%
Total Retail	1,683,545		3,716,783		1,259,203		584,195		1,473,381		—		—		8,717,107		93%
Sales for Resale	248,861		356,603		25,812		29,506		97,478		466,863		(925,434	)	299,689		3%
Other	128,238		159,156		50,097		11,031		35,043		(10,156	)	(5,971	)	367,438		4%
Total	2,060,644		4,232,542		1,335,112		624,732		1,605,902		456,707		(931,405	)	9,384,118		100%
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	8,983		25,869		7,318		2,735		6,188		—		—		51,093		38%
Coal	6,263		1,819		2,421		—		1,345		—		—		11,848		9%
Nuclear	12,721		17,298		—		—		—		6,223		—		36,242		27%
Hydro	160		—		—		—		—		—		—		160		0%
Solar	—		—		3		1		—		—		—		4		0%
Total Net Generation	28,127		44,986		9,742		2,736		7,533		6,223		—		99,347		75%
Purchased Power:
Affiliated Companies	2,255		3,061		2,502		3,912		3,321		—		(15,051	)	—		—
Non-affiliated Companies	1,494		17,211		3,155		871		11,242		—				33,973		25%
Total Purchased Power	3,749		20,272		5,657		4,783		14,563		—		(15,051	)	33,973		25%
Total Sources of Energy	31,876		65,258		15,399		7,519		22,096		6,223		(15,051	)	133,320		100%
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	8,248		14,494		5,829		2,401		6,135		—		—		37,107		32%
Commercial	5,967		11,578		4,865		2,270		4,747		—		—		29,426		25%
Industrial	8,071		29,254		2,559		448		8,052		—		—		48,384		41%
Governmental	239		823		438		795		286		—		—		2,581		2%
Total Retail	22,525		56,149		13,691		5,914		19,220		—		—		117,498		100%
Sales for Resale	8,220		7,260		1,060		1,484		2,478		6,264		(15,051	)	11,715		—
Unbilled Energy	(13	)	(64	)	(31	)	(329	)	(76	)	—		—		(513	)	—
Total Electric Energy Sales	30,732		63,345		14,720		7,069		21,622		6,264		(15,051	)	128,700		—
Line Losses and Company Usage	1,144		1,913		679		450		474		(41	)	—		4,620		—
Total Uses of Energy	31,876		65,258		15,399		7,519		22,096		6,223		(15,051	)	133,320		—
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	9.79		8.59		9.93		10.89		10.98		—		—		9.61		—
Commercial	7.13		8.13		9.49		9.57		8.02		—		—		8.25		—
Industrial	5.38		5.00		6.84		7.45		4.89		—		—		5.17		—
Governmental	6.92		8.33		9.99		9.06		8.72		—		—		8.75		—
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31, 2018)
Residential	592,718		933,809		375,730		181,633		397,137		—		—		2,481,027		85%
Commercial	94,640		131,119		64,719		16,908		49,232		—		—		356,618		12%
Industrial	23,364		10,745		3,984		1,940		5,757		—		—		45,790		2%
Governmental	769		7,990		5,169		1,889		2,022		—		—		17,839		1%
Total Retail Customers	711,491		1,083,663		449,602		202,370		454,148		—		—		2,901,274		100%
Totals may not foot due to rounding.

UTILITY STATISTICAL INFORMATION
ENTERGY ARKANSAS, LLC
	2018		2017	2016
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	807,098		768,389	789,472
Commercial	425,523		495,252	495,455
Industrial	434,387		471,958	445,525
Governmental	16,537		18,818	18,456
Total Retail	1,683,545		1,754,417	1,748,908
Sales for Resale	248,861		249,028	167,149
Other	128,238		136,474	170,551
Total Electric Operating Revenues	2,060,644		2,139,919	2,086,608
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	8,983		8,079	8,327
Coal	6,263		5,563	4,457
Nuclear	12,721		12,693	13,420
Hydro	160		93	184
Total Net Generation	28,127		26,428	26,388
Purchased Power:
Affiliated Companies	2,255		2,403	1,938
Non-affiliated Companies	1,494		1,731	2,315
Total Purchased Power	3,749		4,134	4,253
Total Sources of Energy	31,876		30,562	30,641
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	8,248		7,298	7,618
Commercial	5,967		5,825	5,988
Industrial	8,071		7,528	6,795
Governmental	239		237	237
Total Retail	22,525		20,888	20,638
Sales for Resale	8,220		8,331	8,724
Unbilled Energy	(13	)	43	156
Total Electric Energy Sales	30,732		29,262	29,518
Line Losses and Company Usage	1,144		1,300	1,123
Total Uses of Energy	31,876		30,562	30,641
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	9.79		10.53	10.36
Commercial	7.13		8.50	8.27
Industrial	5.38		6.27	6.56
Governmental	6.92		7.94	7.79
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31)
Residential	592,718		590,999	589,048
Commercial	94,640		93,910	93,183
Industrial	23,364		23,770	23,922
Governmental	769		751	727
Total Retail Customers	711,491		709,430	706,880
Totals may not foot due to rounding.

UTILITY STATISTICAL INFORMATION
ENTERGY ARKANSAS, LLC
GENERATION PORTFOLIO
								PLANT						TOTAL PLANT – 2018
					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)
Cecil Lynch	2	100	%	1949	—	Gas/Oil	Retired							—	—	—
	3	100	%	1954	—	Gas/Oil	Retired
Harvey Couch	1	100	%	1943	—	Gas/Oil	Retired							—	—	—
	2	100	%	1954	—	Gas/Oil	Retired
Lake Catherine	1	100	%	1950	—	Gas/Oil	Retired
	2	100	%	1950	—	Gas/Oil	Retired
	3	100	%	1953	—	Gas/Oil	Retired
	4	100	%	1970	522	Gas/Oil	Peaking	11,588	1.0	423	209,557			288,819	100.0	28,893
Hamilton Moses	1	100	%	1951	—	Gas/Oil	Retired							—	—	—
	2	100	%	1951	—	Gas/Oil	Retired
Mabelvale	1	100	%	1970	—	Gas/Oil	Retired							—	—	—
	2	100	%	1970	—	Gas/Oil	Retired
	3	100	%	1970	—	Gas/Oil	Retired
	4	100	%	1970	—	Gas/Oil	Retired
Robert Ritchie	1	100	%	1961	—	Gas/Oil	Retired							—	—	—
	3	100	%	1970	—	Gas/Oil	Retired							—	—	—
Ouachita	1	100	%	2002	252	Gas	Intermediate	7,169	3	80	661,634		Dry LNB, SCR	2,918,656	27.6	80,418
	2	100	%	2002	253	Gas	Intermediate		3	66	514,318		Dry LNB, SCR
Hot Spring	1	100	%	2002	606	Gas	Intermediate	7,471	7	106	1,339,587		Dry LNB, SCR	3,447,996	27.0	92,951
Independence	1	31.5	%	1983	257	Coal	Base	10,330	2,417	1,004	1,015,777	6	OFA, ESP, ACI	999,311	28.7	28,679
White Bluff	1	57	%	1980	465	Coal	Base	10,247	8,183	4,679	3,203,917	25	OFA, ESP, ACI	4,563,427	27.6	126,074
	2	57	%	1981	467	Coal	Base		5,047	1,830	2,008,144	11	OFA, ESP, ACI
Cecil Lynch	Diesel	100	%	1967	—	Oil	Retired							—	—	—
Carpenter	1	100	%	1932	30	Hydro	Peaking							69,475	17.9	1,242
	2	100	%	1932	30	Hydro	Peaking
Remmel	1	100	%	1925	4	Hydro	Peaking							23,963	33.5	804
	2	100	%	1925	4	Hydro	Peaking
	3	100	%	1925	4	Hydro	Peaking
Union Power Station	2	100	%	2003	497	Gas	Intermediate	7,361	3	69	618,154		Dry LNB, SCR	1,618,334	32.5	52,542
Arkansas	1	100	%	1974	835	Nuclear PWR(c)	Base	10,373						12,692,915	32.5	412,431
Nuclear One	2	100	%	1980	986	Nuclear PWR(c)	Base
Total					5,217				15,663	7,979	9,437,728	42		26,427,652	31.0	817,985
(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
	2018		2017	2016
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	1,244,413		1,197,651	1,195,721
Commercial	941,321		955,539	930,024
Industrial	1,462,462		1,534,496	1,350,484
Governmental	68,587		68,707	66,530
Total Retail	3,716,783		3,756,393	3,542,759
Sales for Resale	356,603		341,632	418,060
Other	159,156		147,995	165,524
Total Electric Operating Revenues	4,232,542		4,246,020	4,126,343
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	25,869		23,507	26,210
Coal	1,819		1,876	1,599
Nuclear	17,298		15,379	17,152
Hydro	—		—	—
Total Net Generation	44,986		40,762	44,961
Purchased Power:
Affiliated Companies	3,061		3,128	6,033
Non-affiliated Companies	17,211		19,984	14,685
Total Purchased Power	20,272		23,112	20,718
Total Sources of Energy	65,258		63,874	65,679
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	14,494		13,357	13,810
Commercial	11,578		11,342	11,478
Industrial	29,254		29,754	28,517
Governmental	823		790	794
Total Retail	56,149		55,243	54,599
Sales for Resale	7,260		6,504	9,035
Unbilled Energy	(64	)	2	206
Total Electric Energy Sales	63,345		61,749	63,840
Line Losses and Company Usage	1,913		2,125	1,839
Total Uses of Energy	65,258		63,874	65,679
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	8.59		8.97	8.66
Commercial	8.13		8.42	8.10
Industrial	5.00		5.16	4.74
Governmental	8.33		8.70	8.38
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31)
Residential	933,809		929,024	923,383
Commercial	131,119		130,600	129,989
Industrial	10,745		10,830	10,768
Governmental	7,990		7,971	7,927
Total Retail Customers	1,083,663		1,078,425	1,072,067
Totals may not foot due to rounding.

UTILITY STATISTICAL INFORMATION
ENTERGY LOUISIANA, LLC
GENERATION PORTFOLIO
								PLANT						TOTAL PLANT – 2018
					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	533	Gas	Intermediate	7,265	6	97	1,225,048		SCR	2,932,742		27.2	79,830
Buras	8	100	%	1971	—	Gas/Oil	Peaking	20,410						3,199		92.0	294
Little Gypsy	1	100	%	1961	—	Gas/Oil	Retired	11,515						1,618,194		48.7	78,878
	2	100	%	1966	412	Gas/Oil	Intermediate		3	720	556,282		BOOS
	3	100	%	1969	517	Gas/Oil	Intermediate		2	1,300	461,931		BOOS/IFGR
Monroe	10	100	%	1961	—	Gas	Retired							—		—	—
	11	100	%	1965	—	Gas	Retired
	12	100	%	1968	—	Gas	Retired
Ninemile Point	1	100	%	1951	—	Gas/Oil	Retired	9,890						4,693,351		38.0	178,280
	2	100	%	1953	—	Gas/Oil	Retired
	3	100	%	1955	—	Gas/Oil	Retired
	4	100	%	1971	729	Gas/Oil	Intermediate		9	3,649	1,756,130		BOOS/IFGR
	5	100	%	1973	745	Gas/Oil	Intermediate		5	2,428	1,052,780		BOOS/IFGR
	6	100	%	2014	560	Gas/Oil	Intermediate	7,138	9	185	1,731,342		SCR, Water/Steam Injection	4,567,269		28.7	131,056
Perryville	1	100	%	2002	528	Gas	Intermediate	7,040	8	180	1,606,075		Dry LNB, SCR	3,815,671		28.8	110,029
	2	100	%	2001	152	Gas	Peaking		—	8	31,298		Dry LNB	25,693
Sterlington	6	100	%	1958	—	Gas/Oil	Retired	13,881						3,142		357.6	1,124
	7	100	%	1974	48	Gas/Oil	Peaking		—	19	4,861
Waterford	1	100	%	1975	411	Gas/Oil	Intermediate	10,733	—	651	451,556		LNCB, FGR	1,613,750		45.2	72,951
	2	100	%	1975	428	Gas/Oil	Intermediate		3	1,039	550,616		LNCB, FGR
	4	100	%	2009	33	Oil	Peaking		3	7	9,782		Water/Steam Injection
LA Station 2 (d)	10	100	%	1950	—	Gas	Reserve							—		—	313
	11	100	%	1950	—	Gas	Reserve
	12	100	%	1953	—	Gas	Reserve
Willow Glen	1	100	%	1960	—	Gas/Oil	Retired							—		—	2,123
	2	100	%	1964	—	Gas/Oil	Retired
	3	100	%	1968	—	Gas	Retired						ESP
	4	100	%	1973	—	Gas/Oil	Retired
	5	100	%	1976	—	Gas/Oil	Retired
Roy S. Nelson	3	100	%	1960	—	Gas/Oil	Retired							(10,510	)	—	1,997
	4	100	%	1970	—	Gas/Oil	Reserve						Combus Mod/Fuel Reburn
Calcasieu	1	100	%	2000	143	Gas	Peaking	12,283	1	134	172,173		Dry LNB	357,373		61.2	21,878
	2	100	%	2001	156	Gas	Peaking		—	36	60,854		Dry LNB
Ouachita	3	100	%	2002	249	Gas	Intermediate	7,112	3	64	501,419		Dry LNB, SCR	1,250,592		29.6	36,984
Roy S. Nelson	6	40	%	1982	221	Coal	Base	11,890	4,122	1,046	1,349,092	6	LNB w/ Sep OFA, ESP, ACI	1,092,417		37.4	40,882
Big Cajun 2	3	24	%	1983	139	Coal	Base	10,734	2,531	538	908,127	6	LNB w/ OFA, ESP, ACI	783,859		32.3	25,333
River Bend	1	100	%	1986	967	Nuclear BWR(c)	Base	10,896						7,032,282		31.9	224,272
Waterford	3	100	%	1985	1,169	Nuclear PWR(c)	Base	10,879						8,347,047		28.0	233,896
Union Power Station	3	100	%	2003	497	Gas	Intermediate	7,312	5	115	1,049,064		Dry LNB, SCR	5,591,466		27.5	153,960
	4	100	%	2003	494	Gas	Intermediate		6	121	1,079,728		Dry LNB, SCR
Total					9,099				6,711	12,845	13,410,964	12		40,762,147		32.4	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
	2018		2017	2016
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	578,568		502,305	458,547
Commercial	461,832		422,692	374,426
Industrial	175,056		158,649	133,951
Governmental	43,747		41,049	38,265
Total Retail	1,259,203		1,124,695	1,005,189
Sales for Resale	25,812		18,238	31,408
Other	50,097		55,296	58,052
Total Electric Operating Revenues	1,335,112		1,198,229	1,094,649
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	7,318		6,727	7,852
Coal	2,421		1,904	1,926
Nuclear	—		—	—
Hydro	—		—	—
Solar	3		2	2
Total Net Generation	9,742		8,633	9,780
Purchased Power:
Affiliated Companies	2,502		2,667	2,150
Non-affiliated Companies	3,155		3,332	3,353
Total Purchased Power	5,657		5,999	5,503
Total Sources of Energy	15,399		14,632	15,283
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	5,829		5,308	5,617
Commercial	4,865		4,783	4,894
Industrial	2,559		2,536	2,493
Governmental	438		421	439
Total Retail	13,691		13,048	13,443
Sales for Resale	1,060		857	1,021
Unbilled Energy	(31	)	22	57
Total Electric Energy Sales	14,720		13,927	14,521
Line Losses and Company Usage	679		705	762
Total Uses of Energy	15,399		14,632	15,283
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	9.93		9.46	8.16
Commercial	9.49		8.84	7.65
Industrial	6.84		6.26	5.37
Governmental	9.99		9.75	8.72
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31)
Residential	375,730		375,281	374,119
Commercial	64,719		64,583	64,274
Industrial	3,984		3,970	4,028
Governmental	5,169		5,066	5,055
Total Retail Customers	449,602		448,900	447,476
Totals may not foot due to rounding.

UTILITY STATISTICAL INFORMATION
ENTERGY MISSISSIPPI, LLC
GENERATION PORTFOLIO
								PLANT						TOTAL PLANT – 2018
					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	455	Gas	Intermediate	7,191	5	104	985,287		Dry LNB, SCR	2,204,189	29.4	64,724
Hinds	1	100	%	2001	455	Gas	Intermediate	7,039	7	120	1,293,893		Dry LNB, SCR	3,154,832	26.2	82,591
Baxter Wilson	1	100	%	1967	530	Gas/Oil	Intermediate	10,453	3	1,112	573,267		Combus Mod/Fuel Reburn	946,825	43.9	41,578
	2	100	%	1971	—	Gas/Oil	Intermediate		—	—	—
Delta	1	100	%	1953	—	Gas/Oil	Retired
	2	100	%	1953	—	Gas/Oil	Retired
Gerald Andrus	1	100	%	1975	736	Gas/Oil	Intermediate	11,534	3	1,139	604,812		OFA	854,269	48.7	41,598
Natchez	1	100	%	1951	—	Gas/Oil	Retired
Rex Brown	1	100	%	1948	—	Gas	Retired	12,497						158,341	67.6	10,709
	3	100	%	1951	—	Gas/Oil	Retired			—	15
	4	100	%	1959	198	Gas/Oil	Intermediate		1	333	152,057
	5	100	%	1968	9	Oil	Peaking
Independence	1	25	%	1983	202	Coal	Base	10,336	3,063	1,033	1,334,111	10	LNB w/Sep OFA, ESP, ACI	2,420,796	25.8	62,494
	2	25	%	1984	211	Coal	Base		2,998	889	1,191,271	10	OFA, ESP, ACI
DeSoto Solar	1	100	%	2015	0.5	Solar	N/A							1,816	0.1	—
Brookhaven Solar	1	100	%	2015	0.5	Solar	N/A							533	0.4	0
Hinds Solar	1	100	%	2015	0.5	Solar	N/A							554	0.3	0
Total					2,797				6,079	4,730	6,255,989	19		9,742,155	31.2	303,696
(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
	2018		2017	2016
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	261,585		250,164	231,274
Commercial	217,182		227,835	205,846
Industrial	33,371		35,642	32,787
Governmental	72,057		77,098	69,126
Total Retail	584,195		590,739	539,033
Sales for Resale	29,506		29,027	32,843
Other	11,031		11,978	14,944
Total Electric Operating Revenues	624,732		631,744	586,820
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	2,735		2,675	1,792
Coal	—		—	—
Nuclear	—		—	—
Hydro	—		—	—
Solar	1		2	1
Total Net Generation	2,736		2,677	1,793
Purchased Power:
Affiliated Companies	3,912		3,874	3,865
Non-affiliated Companies	871		921	1,535
Total Purchased Power	4,783		4,795	5,400
Total Sources of Energy	7,519		7,472	7,193
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	2,401		2,155	2,231
Commercial	2,270		2,248	2,268
Industrial	448		429	441
Governmental	795		790	794
Total Retail	5,914		5,622	5,734
Sales for Resale	1,484		1,703	1,212
Unbilled Energy	(329	)	28	3
Total Electric Energy Sales	7,069		7,353	6,949
Line Losses and Company Usage	450		119	244
Total Uses of Energy	7,519		7,472	7,193
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	10.89		11.61	10.37
Commercial	9.57		10.14	9.08
Industrial	7.45		8.31	7.43
Governmental	9.06		9.76	8.71
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31)
Residential	181,633		179,754	177,993
Commercial	16,908		16,505	16,425
Industrial	1,940		2,110	2,117
Governmental	1,889		1,883	1,860
Total Retail Customers	202,370		200,252	198,395
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 – 2018

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)

Michoud

1

100%

1957

—

Gas/Oil

Retired

2

100%

1963

—

Gas/Oil

Retired

3

100%

1967

—

Gas/Oil

Retired

Combus Mod/Fuel Reburn

Union Power Station

1

100

%

2003

507

Gas

Intermediate

7,295

5

109

1,061,139

Dry LNB, SCR

2,734,823

27.9

76,333

New Orleans Solar

1

100

%

2016

1

Solar

N/A

1,518

44.3

67

Total

508

5

109

1,061,139

2,736,341

27.9

76,400

(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.
	2018		2017		2016
ELECTRIC OPERATING REVENUES ($ thousands)	456,707		633,458		548,291
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	—		—		—
Coal	—		—		—
Nuclear	6,223		6,623		5,299
Hydro	—		—		—
Total Net Generation	6,223		6,623		5,299
Purchased Power	—		—		—
Total Sources of Energy	6,223		6,623		5,299
USES OF ENERGY (GWh)
Electric Energy Sales	6,264		6,675		5,384
Unbilled Energy	—		—		—
Line Losses and Company Usage	(41	)	(52	)	(85	)
Total Uses of Energy	6,223		6,623		5,299
Totals may not foot due to rounding.

SYSTEM ENERGY RESOURCES, INC.

GENERATION PORTFOLIO

PLANT

TOTAL PLANT – 2018

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(c)

(tons)

(tons)

(tons)

(lbs)

TECHNOLOGY

(MWH)

MWH

($ thousands)

Grand Gulf

1

90%

1985

1,252

Nuclear BWR(b)

Base

10,638

—

—

—

—

6,223,457

39.6

246,536

Total

1,252

6,223,457

39.6

246,536

(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) 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.
	2018		2017	2016
ELECTRIC OPERATING REVENUES ($ thousands)
Residential	673,858		636,254	612,660
Commercial	380,619		378,453	356,057
Industrial	393,951		383,814	364,614
Governmental	24,953		24,901	24,373
Total Retail	1,473,381		1,423,422	1,357,704
Sales for Resale	97,478		79,694	218,007
Other	35,043		41,777	39,908
Total Electric Operating Revenues	1,605,902		1,544,893	1,615,619
SOURCES OF ENERGY (GWh)
Net Generation:
Gas & Oil	6,188		5,233	7,795
Coal	1,345		1,387	1,182
Nuclear	—		—	—
Hydro	—		—	—
Total Net Generation	7,533		6,620	8,977
Purchased Power:
Affiliated Companies	3,321		2,711	6,048
Non-affiliated Companies	11,242		11,567	9,363
Total Purchased Power	14,563		14,278	15,411
Total Sources of Energy	22,096		20,898	24,388
USES OF ENERGY (GWh)
Electric Energy Sales:
Residential	6,135		5,716	5,836
Commercial	4,747		4,548	4,570
Industrial	8,052		7,521	7,493
Governmental	286		273	283
Total Retail	19,220		18,058	18,182
Sales for Resale	2,478		2,263	5,711
Unbilled Energy	(76	)	269	(16	)
Total Electric Energy Sales	21,622		20,590	23,877
Line Losses and Company Usage	474		308	511
Total Uses of Energy	22,096		20,898	24,388
AVERAGE ELECTRIC REVENUE (cents/KWh)
Residential	10.98		11.13	10.50
Commercial	8.02		8.32	7.79
Industrial	4.89		5.10	4.87
Governmental	8.72		9.12	8.61
NUMBER OF RETAIL ELECTRIC CUSTOMERS
(as of December 31)
Residential	397,137		391,613	388,143
Commercial	49,232		48,591	48,276
Industrial	5,757		5,513	5,417
Governmental	2,022		2,157	2,162
Total Retail Customers	454,148		447,874	443,998
Totals may not foot due to rounding.

UTILITY STATISTICAL INFORMATION
ENTERGY TEXAS, INC.
GENERATION PORTFOLIO
							PLANT						TOTAL PLANT – 2018
				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	164	Coal	Base	11,508	3,349	789	1,019,277	4	LNB w/ Sep OFA, ESP, ACI	836,356	34.8	29,098
Big Cajun 2	3	18%	1983	104	Coal	Base	10,975	1,844	346	578,488	4	LNB w/ OFA, ESP, ACI	508,334	38.8	19,724
Lewis Creek	1	100%	1970	252	Gas/Oil	Intermediate	10,868	3	111	609,003		SCR	1,996,352	41.1	82,117
	2	100%	1971	253	Gas/Oil	Intermediate		3	100	561,712		SCR
Sabine	1	100%	1962	212	Gas/Oil	Intermediate	10,707	1	260	190,449			4,191,510	41.1	172,381
	2	100%	1962	—	Gas/Oil	Retired			—	—		Combus Mod/Fuel Reburn
	3	100%	1966	411	Gas/Oil	Intermediate		4	534	696,338		LNB w/ Sep OFA
	4	100%	1974	534	Gas	Intermediate		5	1,609	1,077,274		Combus Mod/Fuel Reburn
	5	100%	1979	448	Gas/Oil	Intermediate		4	501	724,652		LNB w/ Closed-coupled OFA
Total				2,376				5,212	4,249	5,457,193	8		7,532,552	40.3	303,320
(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 2016 – 2018 based on 18/24 month operating cycle.
CAPABILITY FACTOR (%)	2018	2017	2016
ANO	85.3	78.0	82.8
Grand Gulf	62.9	55.4	71.3
River Bend	83.3	83.3	83.0
Waterford 3	99.6	88.5	87.9
Entergy Southeast Average	83.3	76.6	81.5
Industry Average	93.2	92.9	92.7

The following table shows plant performance for 2018 and average for one three-year period.
PRODUCTION COST ($/MWh) (a)	2018	2015-2017
ANO	32.2	29.0
Grand Gulf	39.6	28.6
River Bend	34.0	29.5
Waterford 3	23.6	25.5
Entergy Southeast Average	31.5	28.2
(a) Fuel and non-fuel 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	5/20/34	7/17/38	11/1/44	8/29/45	12/18/44
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	3/24/18 –	9/29/18 –	4/7/18 –	3/30/19 –	1/5/19 –
	5/22/18	11/21/18	7/19/18	5/13/19	3/8/19
Number of Days	59	53	103	44	73
Next Scheduled Refueling	Fall 19	Spring 20	Spring 20	Spring 21	Fall 20
2018 Capability Factor (%)	84.6	85.9	62.9	83.3	99.6
($ in millions as of December 31, 2018)
Net Book Value	1,665(b)		1,713	1,536(c)	2,284
Decommissioning Trust Fair Values	912(b)		870	803(c)	482
Decommissioning Liability	1,028(b)		896	628(c)	625
(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. - Vice-Chairperson	Democrat	1/03	12/20
Eric Skrmetta	Republican	1/09	12/20
Craig Greene	Republican	6/17	12/24
Lambert C. Boissiere, III	Democrat	1/05	12/22
MISSISSIPPI
Brandon Presley – Chairperson	Democrat	1/08	12/19
Cecil Brown – Vice-Chairperson	Democrat	1/16	12/19
Sam Britton	Republican	1/16	12/19
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	9/19
5/15/19

ENTERGY WHOLESALE COMMODITIES
EWC QUARTERLY FINANCIAL METRICS
	2018					2017					FY
($ millions)	1Q	2Q	3Q	4Q	FY	1Q	2Q	3Q	4Q	FY	CHANGE
GAAP MEASURES
As-Reported Earnings	(18)	(56)	106	(372)	(340)	(28)	223	55	(425)	(175)	(166)
NON-GAAP MEASURES
Adjusted EBITDA	86	(37)	(52)	(199)	(202)	200	61	197	98	557	(759)

EWC ANNUAL FINANCIAL METRICS
($ millions)	2018	2017	2016
GAAP MEASURES
As-Reported Earnings	(340)	(175)	(1,495)
NON-GAAP MEASURES
Adjusted EBITDA	(202)	557	480

EWC QUARTERLY OPERATIONAL METRICS
	2018															2017															FY
	1Q			2Q			3Q			4Q			FY			1Q			2Q			3Q			4Q			FY			% CHANGE
Owned Capacity (MW) (a)	3,962			3,962			3,962			3,962			3,962			4,800			3,962			3,962			3,962			3,962			0%
GWh billed	7,885			7,281			7,576			8,022			30,764			8,363			6,019			8,234			7,885			30,501			1%
As-reported net revenue ($ millions)	382			272			341			281			1,276			494			250			392			333			1,469			(13)%
EWC Nuclear
Capacity Factor	83		%	86		%	90		%	78		%	84		%	80		%	59		%	98		%	93		%	83		%	2	%
GWh billed	6,408			6,713			6,976			7,520			27,617			7,835			5,393			7,633			7,317			28,178			(2)%
Production cost per MWh (b)		$18.75			$17.15			$17.15			$18.79			$17.68			$23.00			$27.11			$14.91			$18.73			$18.70		(5)%
As-reported net revenue ($ millions)	379			267			339			274			1,259			491			247			391			327			1,456			(14)%
(a) James A. FitzPatrick Nuclear Station (838 MW) was sold in March 2017.
(b) Fuel and non-fuel 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
	2018	2017	2016
Owned Capacity (MW) (a)	3,962	3,962	4,800
GWh billed	30,764	30,501	35,881
As-reported net revenue ($ millions)	1,276	1,469	1,542
EWC Nuclear
Capacity Factor	83%	83%	87%
GWh billed	27,617	28,178	33,551
Production cost per MWh (b)	$ 17.68	$ 18.70	$ 22.93
As-reported net revenue ($ millions)	1,259	1,456	1,533
Totals may not foot due to rounding.
(a) James A. FitzPatrick Nuclear Station (838 MW) was sold in March 2017.
(b) Fuel and non-fuel 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, 2018	PLANTS	UNITS	MW	MW	%
Gas/Oil	—	—	—	213	5
Coal	—	—	—	181	5
Total Fossil	—	—	—	394	10
Nuclear	4	5	4,368	3,568	90
Total Capacity	4	5	4,368	3,962	100
(a) Operated capacity includes management services contracts and excludes units operated by Entergy’s utility companies.

ENTERGY WHOLESALE COMMODITIES
EWC NUCLEAR PLANT STATISTICS
				PILGRIM
	INDIAN POINT		PALISADES	NUCLEAR
	ENERGY CENTER		NUCLEAR	POWER
	UNIT 2	UNIT 3	PLANT	STATION (a)
Entergy Purchase Date	9/6/01	11/21/00	4/11/07	7/13/99
Commercial Operation Date	August 74	August 76	December 71	December 72
License Expiration Date	4/30/24	4/30/25	3/24/31	6/8/32
Architect/Engineer	United Engineers & Constructors	United Engineers & Constructors	Combustion Engineering	Bechtel Power
Reactor Manufacturer	Westinghouse	Westinghouse	Combustion Engineering	General Electric
Reactor Type	PWR	PWR	PWR	BWR
Turbine Generator Manufacturer	General Electric	Westinghouse	Westinghouse	General Electric
Net MWs in Operation (MW)	1,028	1,041	811	688
Refueling Data:
Last Date	3/19/18 –	3/11/19 –	10/28/18 –	4/9/17 –
	4/21/18	4/9/19	12/28/18	5/22/17
Number of Days	33	29	61	43
Upcoming Refueling Outages			Summer 20
2018 Capacity Factor	89%	91%	77%	75%
Net Book Value of Plant and   Related Assets	85	120	246	6
($ in millions as of December 31, 2018)
Capacity Zone (ICAP/UCAP)	NYISO Lower Hudson Valley	NYISO Lower Hudson Valley	MISO	NEPOOL
Nearest Market Hub	Zone G (b)	Zone G (b)	Indiana	Mass Hub
(a) Pilgrim shutdown 5/31/19.
(b) Indian Point physically located in NYISO Zone H.

EWC NUCLEAR PLANT ADDITIONAL INFORMATION
				PALISADES	PILGRIM
	INDIAN POINT			NUCLEAR	NUCLEAR	VERMONT
	UNIT 1	UNIT 2	UNIT 3	PLANT	STATION	YANKEE
Decommissioning Trust Asset	471	598	781	444	1,028	532
Decommissioning Liability	228	768	751	548 (b)	816	568
($ in millions as of December 31, 2018)
Planned closing date	n/a (c)	4/30/20	4/30/21	5/31/2022	5/31/19 (d)	n/a (e)
(a) Vermont Yankee trust asset includes site restoration trust fund.
(b) Includes $40 million for Big Rock Point.
(c) Indian Point 1 has been shut down and in safe storage since the 1970s.
(d) Pilgrim plant ceased power production on 5/31/19.
(e) Vermont Yankee plant ceased power production on 12/29/14.

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	1723	511	754452	5	OFA, ESP, ACI
Nelson 6	Base	1227	289	373449	1	LNB w Sep OFA, ESP, ACI
RS Cogen	Base	4	398	801,689		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)	2018	2017	MATURITY	RATE
RS Cogen Senior Project Debt
Bank Portion(a)	$—	$6	10/17/18	LIBOR + 2.25%
Institutional Portion	$35	$38	10/15/22	Fixed 8.73%
RS Cogen Subordinated Debt(b)	$26	$23	10/17/17	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	2018	2017
	3.50%	$139	$104
		SHARES OUTSTANDING
PREFERRED STOCK:		AS OF DECEMBER 31,		AS OF DECEMBER 31,
($ millions)	RATE	2018	2017	2018		2017
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 and operated by EWC
Production cost per MWh	Fuel and non-fuel 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
As-reported non-fuel O&M	Operation and maintenance expenses excluding fuel, fuel-related expenses and gas purchased for resale and purchased power
As-reported net revenue	Operating revenue less fuel, fuel related expenses and gas purchased for resale, purchased power and other regulatory charges (credits) – net
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 associated with securitization bonds issued to recover storm costs from hurricanes Rita, Ike and Gustav at Entergy
	Texas and Hurricane Isaac at Entergy New Orleans; the 2009 ice storm at Entergy Arkansas; and investment recovery of
	costs associated with the cancelled Little Gypsy repowering project at Entergy Louisiana
FINANCIAL MEASURES – NON-GAAP
Adjusted earnings	As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments
Adjusted EBITDA	Earnings before interest, depreciation and amortization and income taxes excluding decommissioning expense;
	for Entergy consolidated, also excludes AFUDC-equity funds and subtracts securitization proceeds
Adjusted EPS	As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments, divided by the diluted
	average number of common shares outstanding
Adjusted net revenue	Operating revenue less fuel, fuel related expenses and gas purchased for resale, purchased power and other regulatory
	charges (credits) – net excluding adjustments
Adjusted non-fuel O&M	Operation and maintenance expenses excluding fuel, fuel-related expenses and gas purchased for resale and purchased
	power excluding the effects of adjustments
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 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 total debt, excluding securitization debt
FFO	OCF less AFUDC-borrowed funds, working capital items in OCF (receivables, fuel inventory, accounts payable, prepaid
	taxes and 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 excess ADIT, and severance and retention payments associated with exit of EWC	12-months rolling adjusted FFO as a percentage of end of period total debt excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC

REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018		2017		2016
As-reported net income (loss) attributable to Entergy Corporation (A)	849		412		(584	)
Preferred dividends	14		14		19
Tax-effected interest expense	527		407		410
As-reported net income (loss) attributable to Entergy Corporation
adjusted for preferred dividends and tax-effected interest expense (B)	1,390		833		(155	)
Adjustments (C)	(121	)	(303	)	(1,367	)
EWC preferred dividends and tax-effected interest expense, rolling 12 months	29		18		17
Total adjustments, including preferred dividends and
tax-effected interest expense (D)	(92	)	(285	)	(1,350	)
Adjusted earnings, rolling 12 months (A-C)	970		715		783
Adjusted earnings, rolling 12 months including preferred dividends and
tax-effected interest expense (B-D)	1,482		1,118		1,195
Average invested capital (E)	26,032		24,213		23,492
Average common equity (F)	8,418		8,037		8,669
($ per share)
As-Reported earnings per share (N)	4.63		2.28		(3.26	)
Adjusted earnings per share (O)	5.29		3.96		6.98
Common dividend paid per share (P)	3.58		3.50		3.42
(%)
ROIC – As-Reported (B/E)	5.3		3.4		(0.7	)
ROIC – Adjusted ((B-D)/E)	5.7		4.6		5.1
ROE – As-Reported (A/F)	10.1		5.1		(6.7	)
ROE – Adjusted ((A-C)/F)	11.5		8.9		9.0
Common dividend payout – As-Reported % (P/N)	77		154		(105	)
Common dividend payout – Adjusted % (P/O)	68		88		49
Calculations may differ due to rounding.

REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q17-4Q18
($ millions)	1Q18		2Q18		3Q18		4Q18		1Q17		2Q17		3Q17		4Q17
As-reported net income (loss) attributable to Entergy Corporation, rolling 12	462		297		435		849		(731	)	(888	)	(878	)	412
months (A)
Preferred dividends	14		14		14		14		17		15		14		14
Tax-effected interest expense	499		510		520		527		409		404		404		407
As-reported net income (loss) attributable to Entergy Corporation, rolling 12
months adjusted for preferred dividends and tax-effected interest expense (B)	975		821		969		1,390		(305	)	(469	)	(460	)	833
Adjustments, rolling 12 months (C)	(294	)	(531	)	(481	)	(121	)	(1,475	)	(1,629	)	(1,581	)	(303	)
EWC preferred dividends and tax-effected interest expense, rolling 12 months	22		24		27		29		17		17		17		18
Total adjustments, including preferred dividends and
tax-effected interest expense (D)	(272	)	(507	)	(454	)	(92	)	(1,458	)	(1,612	)	(1,564	)	(285	)
Adjusted earnings, rolling 12 months (A-C)	756		828		916		970		744		741		703		715
Adjusted earnings, rolling 12 months adjusted for preferred dividends and
tax-effected interest expense (B-D)	1,247		1,328		1,423		1,482		1,153		1,143		1,104		1,118
Average invested capital (E)	24,862		25,480		26,107		26,032		24,321		24,886		25,246		24,213
Average common equity (F)	8,016		8,197		8,551		8,418		8,709		9,064		9,380		8,037
(%)
ROIC – As-Reported (B/E)	3.9		3.2		3.7		5.3		(1.3	)	(1.9	)	(1.8	)	3.4
ROIC – Adjusted ((B-D)/E)	5.0		5.2		5.5		5.7		4.7		4.6		4.4		4.6
ROE – As-Reported (A/F)	5.8		3.6		5.1		10.1		(8.4	)	(9.8	)	(9.4	)	5.1
ROE – Adjusted ((A-C)/F)	9.4		10.1		10.7		11.5		8.5		8.2		7.5		8.9
Calculations may differ due to rounding.

REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018		2017		2016
Total debt (A)	18,133		16,677		15,275
Less securitization debt (B)	424		545		661
Total debt, excluding securitization debt (A-B)	17,709		16,132		14,614
Less cash and cash equivalents (C)	481		781		1,188
Net debt, excluding securitization debt (A-B-C)	17,228		15,351		13,426
Total capitalization (D)	27,196		24,867		23,560
Less securitization debt (E)	424		545		661
Total capitalization, excluding securitization debt (D-E)	26,772		24,322		22,899
Less cash and cash equivalents (F)	481		781		1,188
Net capitalization, excluding securitization debt (D-E-F)	26,291		23,541		21,711
(%)
Debt to capital (A/D)	66.7		67.1		64.8
Debt to capital, excluding securitization debt ((A-B)/D-E))	66.1		66.3		63.8
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F))	65.5		65.2		61.8
Revolver capacity (G)	4,056		4,174		3,720
Gross liquidity (C+G)	4,537		4,955		4,908
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)	220		210		700
Commercial paper (J)	1,942		1,467		344
Unamortized debt issuance and discounts (K)	(10	)	(11	)	(13	)
Total parent debt (H)+(I)+(J)+(K)	4,002		3,516		2,881
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B)	22.6		21.8		19.7
Calculations may differ due to rounding.

REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q17-4Q18
($ millions)	1Q18		2Q18		3Q18		4Q18		1Q17		2Q17		3Q17		4Q17
Total debt (A)	17,680		17,881		18,485		18,133		15,611		16,285		16,224		16,677
Less securitization debt (B)	520		483		463		424		637		602		582		545
Total debt, excluding securitization debt (A-B)	17,160		17,398		18,022		17,709		14,974		15,683		15,642		16,132
Less cash and cash equivalents (C)	1,206		813		988		481		1,083		934		546		781
Net debt, excluding securitization debt (A-B-C)	15,954		16,585		17,034		17,228		13,891		14,749		15,096		15,351
Total capitalization (D)	25,853		26,102		27,095		27,196		23,871		24,859		25,118		24,867
Less securitization debt (E)	520		483		463		424		637		602		582		545
Total capitalization, excluding securitization debt (D-E)	25,333		25,619		26,632		26,772		23,234		24,257		24,536		24,322
Less cash and cash equivalents (F)	1,206		813		988		481		1,083		934		546		781
Net capitalization, excluding securitization debt (D-E-F)	24,127		24,806		25,644		26,291		22,151		23,323		23,990		23,541
(%)
Debt to capital (A/D)	68.4		68.5		68.2		66.7		65.4		65.5		64.6		67.1
Debt to capital, excluding securitization debt ((A-B)/D-E))	67.7		67.9		67.7		66.1		64.4		64.7		63.8		66.3
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F))	66.1		66.9		66.4		65.5		62.7		63.2		62.9		65.2
Revolver capacity (G)	3,010		3,885		3,653		4,056		4,185		4,163		4,213		4,174
Gross liquidity (C+G)	4,216		4,698		4,641		4,537		5,268		5,097		4,759		4,955
Entergy Corporation notes:
Due January 2017	—		—		—		—		—		—		—		—
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)	1,125		390		630		220		225		225		150		210
Commercial paper (J)	655		1,945		1,947		1,942		1,088		1,147		1,272		1,467
Unamortized debt issuance and discounts (K)	(11	)	(11	)	(10	)	(10	)	(13	)	(12	)	(11	)	(11	)
Total parent debt (H)+(I)+(J)+(K)	3,619		4,174		4,417		4,002		3,150		3,210		3,261		3,516
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B)	21.1		24.0		24.5		22.6		21.0		20.5		20.8		21.8
Calculations may differ due to rounding.

REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018		2017		2016
Total debt (A)	18,133		16,677		15,275
Less securitization debt (B)	424		545		661
Total debt, excluding securitization debt (C)	17,709		16,132		14,614
Net cash flow provided by operating activities, rolling 12 months (D)	2,385		2,624		2,999
Allowance for borrowed funds used during construction, rolling 12 months (E)	(61	)	(45	)	(34	)
Working capital items in net cash flow provided by operating activities, rolling 12 months:
Receivables	99		(98	)	(97	)
Fuel inventory	46		(3	)	38
Accounts payable	97		102		174
Prepaid taxes and taxes accrued	39		34		(29	)
Interest accrued	5		1		(7	)
Other working capital accounts	(164	)	(4	)	31
Securitization regulatory charges	124		116		114
Total (F)	246		148		224
FFO, rolling 12 months (G) = (D)+(E)-(F)	2,078		2,431		2,741
FFO to debt, excluding securitization debt (G)/(C)	11.7%		15.1%		18.8%
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H)	592		—		—
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I)	43		100		6
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)]	15.3%		15.7%		18.8%
Calculations may differ due to rounding.

REG G RECONCILIATIONS
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q17-4Q18
($ millions)	1Q18		2Q18		3Q18		4Q18		1Q17		2Q17		3Q17		4Q17
Total debt (A)	17,680		17,881		18,485		18,133		15,611		16,285		16,224		16,677
Less securitization debt (B)	520		483		463		424		637		602		582		545
Total debt, excluding securitization debt (C)	17,160		17,398		18,022		17,709		14,974		15,683		15,642		16,132
Net cash flow provided by operating activities, rolling 12 months (D)	2,652		2,884		2,770		2,385		2,995		2,566		2,459		2,624
Allowance for borrowed funds used during construction, rolling 12 months (E)	(49	)	(53	)	(57	)	(61	)	(34	)	(37	)	(41	)	(45	)
Working capital items in net cash flow provided by operating activities, rolling 12 months:
Receivables	(123	)	(149	)	(53	)	99		(17	)	(33	)	(24	)	(98	)
Fuel inventory	(26	)	(1	)	26		46		54		35		30		(3	)
Accounts payable	81		190		258		97		194		139		(1	)	102
Prepaid taxes and taxes accrued	36		28		10		39		(72	)	(38	)	9		34
Interest accrued	5		3		(3	)	5		6		(2	)	—		1
Other working capital accounts	(25	)	(48	)	(9	)	(164	)	119		62		28		(4	)
Securitization regulatory charges	121		123		125		124		114		115		114		116
Total (F)	69		146		354		246		398		278		156		148
FFO, rolling 12 months (G) = (D)+(E)-(F)	2,534		2,685		2,359		2,078		2,563		2,251		2,262		2,431
FFO to debt, excluding securitization debt (G)/(C)	14.8%		15.4%		13.1%		11.7%		17.1%		14.4%		14.5%		15.1%
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H)	—		76		342		592		—		—		—		—
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I)	100		—		—		43		6		100		100		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)]	15.3%		15.9%		15.0%		15.3%		17.2%		15.0%		15.1%		15.7%
Calculations may differ due to rounding.

REG G RECONCILIATIONS
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018		2017		2016
As-reported earnings applicable to common stock/equity (A)	1,483		762		1,134
Preferred dividends	12		12		17
Tax-effected interest expense	412		337		343
As-reported earnings applicable to common stock/equity adjusted for
preferred dividends and tax-effected interest expense (B)	1,907		1,110		1,495
Utility adjustments
Regulatory-sharing	(40	)	56		(16	)
Income tax effect on Utility adjustments above	10		(14	)	6
2012/2013 IRS audit settlement	44		—		—
Internal restructuring	170		—		—
Tax reform	38		(222	)	—
IRS audit items	—		—		137
Total adjustments (C)	223		(181	)	127
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	1,684		1,291		1,368
Adjusted earnings (A-C)	1,261		942		1,008
As-reported Utility net revenue (D)	5,626		6,318		6,179
Utility adjustments included in net revenue
Tax reform	—		56		—
Internal restructuring	(40	)	—		(16	)
Total adjustments included in net revenue (E)	(40	)	56		(16	)
Adjusted Utility net revenue (D-E)	5,665		6,263		6,196
As-reported Utility non-fuel O&M (F)	2,652		2,570		2,407
Average invested capital (H)	25,487		23,601		21,896
Average common equity (I)	11,778		10,721		10,008
Gross debt (J)	13,991		13,059		12,349
Less securitization debt (K)	424		545		661
Gross debt, excluding securitization debt (J-K)	13,567		12,514		11,688
Less cash and cash equivalents (L)	260		544		747
Net debt, excluding securitization debt (J-K-L)	13,307		11,969		10,941
Total capitalization (M)	26,740		24,234		22,968
Less securitization debt (K)	424		545		661
Total capitalization, excluding securitization debt (M-K)	26,317		23,689		22,307
Less cash and cash equivalents (L)	260		544		747
Net capitalization, excluding securitization debt (M-K-L)	26,057		23,144		21,560
(%)
ROIC – As-Reported (B/H)	7.5		4.7		6.8
ROIC – Adjusted ((B-C)/H)	6.6		5.5		6.2
ROE – As-Reported (A/I)	12.6		7.1		11.3
ROE – Adjusted ((A-C)/I)	10.7		8.8		10.1
Debt to capital (J/M)	52.3		53.9		53.8
Debt to capital, excluding securitization debt ((J-K)/(M-K))	51.6		52.8		52.4
Net debt to net capital, excluding securitization debt ((J-K-L)/(M-K-L))	51.1		51.7		50.7
Calculations may differ due to rounding.

REG G RECONCILIATIONS
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q17-4Q18
($ millions)	1Q18		2Q18		3Q18		4Q18		1Q17	2Q17	3Q17	4Q17
As-reported earnings applicable to common stock/equity (A)	215		376		505		388		165	244	401	(47	)
Less adjustments (B)	—		44		—		179		—	—	—	(181	)
Adjusted earnings (A-B)	215		332		505		209		165	244	401	133
As-reported earnings applicable to common stock/equity-rolling   12 months (C)	812		944		1,048		1,483		1,104	972	929	762
Preferred dividends	12		12		12		12		15	13	12	12
Tax-effected interest expense	409		413		415		412		341	335	334	337
As-Reported earnings applicable to common stock/equity, rolling
12 months adjusted for preferred dividends and tax-effected	1,233		1,369		1,474		1,907		1,460	1,321	1,275	1,110
interest expense (D)
Adjustments in prior quarters	(181	)	(181	)	(137	)	44		127	—	—	—
Adjustments in current quarter	—		44		—		179		—	—	—	(181	)
Total adjustments (E)	(181	)	(137	)	(137	)	223		127	—	—	(181	)
Adjusted earnings, rolling 12 months adjusted for preferred
dividends and tax-effected interest expense (D-E)	1,413		1,505		1,611		1,684		1,334	1,321	1,275	1,291
Adjusted earnings, rolling 12 months (C-E)	993		1,081		1,185		1,261		977	972	929	942
As-reported Utility net revenue (F)	1,460		1,370		1,558		1,238		1,404	1,549	1,811	1,553
Utility adjustments included in net revenue
Tax reform	—		—		—		—		—	—	—	56
Internal restructuring	—		—		—		(40	)	—	—	—	—
Total adjustments included in net revenue (G)	—		—		—		(40	)	—	—	—	56
Adjusted Utility net revenue (F-G)	1,460		1,370		1,558		1,278		1,404	1,549	1,811	1,498
As-reported Utility non-fuel O&M (H)	629		663		673		687		594	632	625	719
Utility adjustments included in non-fuel O&M	—		—		—		—		—	—	—	—
Total adjustments included in non-fuel O&M (I)	—		—		—		—		—	—	—	—
Adjusted Utility non-fuel O&M (H-I)	629		663		673		687		594	632	625	719
Average invested capital (J)	24,193		24,745		25,247		25,487		22,804	23,170	23,474	23,601
Average common stock or member's equity (K)	10,844		11,266		11,660		11,778		10,261	10,402	10,712	10,721
Gross debt (L)	13,943		13,600		13,937		13,991		12,403	13,006	12,885	13,059
Less securitization debt (M)	520		483		463		424		637	602	582	545
Gross debt, excluding securitization debt (L-M)	13,423		13,116		13,474		13,567		11,766	12,404	12,303	12,514
Less cash and cash equivalents (N)	946		623		808		260		436	687	313	544
Net debt, excluding securitization debt (L-M-N)	12,477		12,493		12,666		13,307		11,330	11,717	11,990	11,970
Total capitalization (O)	25,248		25,567		26,400		26,740		23,138	23,922	24,095	24,234
Less securitization debt (M)	520		483		463		424		637	602	582	545
Total capitalization, excluding securitization debt (O-M)	24,728		25,084		25,937		26,317		22,501	23,320	23,513	23,689
Less cash and cash equivalents (N)	946		623		808		260		436	687	313	544
Net capitalization, excluding securitization debt (O-M-N)	23,782		24,460		25,129		26,057		22,065	22,633	23,200	23,144
(%)
ROIC – As-Reported (D/J)	5.1		5.5		5.8		7.5		6.4	5.7	5.4	4.7
ROIC – Adjusted ((D-E)/J)	5.8		6.1		6.4		6.6		5.8	5.7	5.4	5.5
ROE – As-Reported (C/K)	7.5		8.4		9.0		12.6		10.8	9.3	8.7	7.1
ROE – Adjusted ((C-E)/K)	9.2		9.6		10.2		10.7		9.5	9.3	8.7	8.8
Debt to capital ratio (L/O)	55.2		53.2		52.8		52.3		53.6	54.4	53.5	53.9
Debt to capital, excluding securitization debt ((L-M)/(O-M))	54.3		52.3		51.9		51.6		52.3	53.2	52.3	52.8
Net debt to net capital, excluding securitization debt     ((L-M-N)/(O-M-N))	52.5		51.1		50.4		51.1		51.3	51.8	51.7	51.7
Calculations may differ due to rounding.

REG G RECONCILIATIONS
ENTERGY ARKANSAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018		2017	2016
As-reported earnings applicable to common stock (A)	252		138	162
Preferred dividends	1		1	5
Tax-effected interest expense	86		70	65
As-reported earnings applicable to common stock adjusted for
preferred dividends and tax-effected interest expense (B)	339		210	233
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)	341		206	233
Adjusted earnings (A-C)	254		135	162
Average invested capital (D)	5,810		5,263	4,883
Average invested capital, excluding securitization (E)	5,782		5,221	4,828
Average member's equity (F)	2,680		2,315	2,072
Gross debt (G)	3,226		3,002	2,831
Less securitization debt (H)	21		35	48
Gross debt, excluding securitization debt (G-H)	3,205		2,968	2,783
Less cash and cash equivalents (I)	—		6	21
Net debt, excluding securitization debt (G-H-I)	3,205		2,961	2,762
Total capitalization (J)	6,209		5,410	5,115
Less securitization debt (K)	21		35	48
Total capitalization, excluding securitization debt (J-K)	6,188		5,375	5,067
Less cash and cash equivalents (L)	—		6	21
Net capitalization, excluding securitization debt (J-K-L)	6,188		5,369	5,046
(%)
ROIC – As-Reported (B/D)	5.8		4.0	4.8
ROIC – Adjusted ((B-C)/E)	5.9		4.0	4.8
Return on average member's equity – As-Reported (A/F)	9.4		6.0	7.8
Return on average member's equity – Adjusted ((A-C)/F)	9.5		5.8	7.8
Debt to capital (G/J)	52.0		55.5	55.3
Debt to capital, excluding securitization debt ((G-H)/(J-K))	51.8		55.2	54.9
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L))	51.8		55.2	54.7
Calculations may differ due to rounding.

REG G RECONCILIATIONS
ENTERGY LOUISIANA FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018	2017		2016
As-reported earnings applicable to common equity (A)	676	316		622
Preferred dividends	—	—		—
Tax-effected interest expense	184	154		159
As-reported earnings applicable to common equity adjusted for
preferred dividends and tax-effected interest expense (B)	860	470		781
Adjustments
IRS audit items	—	—		136
Regulatory sharing	—	56		(16	)
Income tax effect on regulatory sharing	—	(14	)	6
Tax reform	—	(224	)	—
2012/2013 IRS audit settlement	50	—		—
Total Adjustments (C)	50	(183	)	126
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	810	653		655
Adjusted earnings (A-C)	626	499		496
Average invested capital (D)	12,103	11,197		10,266
Average invested capital, excluding securitization (E)	12,036	11,109		10,156
Average member's equity (F)	5,606	5,195		4,910
Gross debt (G)	6,806	6,188		5,817
Less securitization debt (H)	56	78		99
Gross debt, excluding securitization debt (G-H)	6,750	6,110		5,718
Less cash and cash equivalents (I)	43	36		214
Net debt, excluding securitization debt (G-H-I)	6,707	6,074		5,504
Total capitalization (J)	12,709	11,496		10,898
Less securitization debt (K)	56	78		99
Total capitalization, excluding securitization debt (J-K)	12,653	11,419		10,799
Less cash and cash equivalents (L)	43	36		214
Net capitalization, excluding securitization debt (J-K-L)	12,610	11,383		10,585
(%)
ROIC – As-Reported (B/D)	7.1	4.2		7.6
ROIC – Adjusted ((B-C)/E)	6.7	5.9		6.5
Return on average member's equity – As-Reported (A/F)	12.1	6.1		12.7
Return on average member's equity – Adjusted ((A-C)/F)	11.2	9.6		10.1
Debt to capital (G/J)	53.6	53.8		53.4
Debt to capital ratio, excluding securitization debt ((G-H)/(J-K))	53.3	53.5		52.9
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L))	53.2	53.4		52.0
Calculations may differ due to rounding.

REG G RECONCILIATIONS
ENTERGY MISSISSIPPI FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018		2017		2016
As-reported earnings applicable to common stock (A)	125		109		107
Preferred dividends	1		1		2
Tax-effected interest expense	39		29		33
As-reported earnings applicable to common stock adjusted for preferred
dividends and tax-effected interest expense (B)	165		139		142
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)	166		143		142
Adjusted earnings (A-C)	126		113		107
Average invested capital (D)	2,543		2,352		2,174
Average member's equity (E)	1,235		1,136		1,053
Gross debt (F)	1,326		1,270		1,121
Less cash and cash equivalents (G)	37		6		77
Net debt (F-G)	1,289		1,264		1,044
Total capitalization (H)	2,618		2,468		2,236
Less cash and cash equivalents (I)	37		6		77
Net capitalization (H-I)	2,581		2,462		2,159
(%)
ROIC – As-Reported (B/D)	6.5		5.9		6.6
ROIC – Adjusted ((B-C)/D)	6.5		6.1		6.6
Return on average member's equity – As-Reported (A/E)	10.1		9.6		10.1
Return on average member's equity – Adjusted ((A-C)/E)	10.2		9.9		10.1
Debt to capital (F/H)	50.6		51.5		50.2
Net debt to net capital ((F-G)/(H-I))	49.9		51.3		48.4
Calculations may differ due to rounding.

ENTERGY NEW ORLEANS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018	2017		2016
As-reported earnings applicable to common stock (A)	53.2	43.7		47.9
Preferred dividends	—	0.8		1.0
Tax-effected interest expense	14.5	12.6		12.7
As-reported earnings applicable to common stock adjusted for preferred
dividends and tax-effected interest expense (B)	67.6	57.1		61.6
Adjustments
Tax reform	—	(6.1	)	—
2012/2013 IRS audit settlement	—	—		—
Total Adjustments (C)	—	(6.1	)	—
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	67.7	63.2		61.6
Adjusted earnings (A-C)	53.2	49.8		47.9
Average invested capital (D)	891	874		804
Average invested capital, excluding securitization (E)	822	794		714
Average member's equity (F)	430	421		388
Gross debt (G)	484	437		449
Less securitization debt (H)	64	74		85
Gross debt, excluding securitization debt (G-H)	420	362		364
Less cash and cash equivalents (I)	20	33		103
Net debt, excluding securitization debt (G-H-I)	400	330		261
Total capitalization (J)	929	852		896
Less securitization debt (K)	64	74		85
Total capitalization, excluding securitization debt (J-K)	865	778		811
Less cash and cash equivalents (L)	20	33		103
Net capitalization, excluding securitization debt (J-K-L)	845	745		708
(%)
ROIC – As-Reported (B/D)	7.6	6.5		7.7
ROIC – Adjusted ((B-C)/E)	8.2	8.0		8.6
Return on average member's equity – As-Reported (A/F)	12.4	10.4		12.3
Return on average member's equity – Adjusted ((A-C)/F)	12.4	11.8		12.3
Debt to capital (G/J)	52.1	51.3		50.1
Debt to capital, excluding securitization debt ((G-H)/(J-K))	48.6	46.5		44.9
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L))	47.4	44.2		36.9
Calculations may differ due to rounding.

REG G RECONCILIATIONS
ENTERGY TEXAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018		2017		2016
As-reported net income (A)	162		76		108
Preferred dividends	—		—		—
Tax-effected interest expense	65		51		51
As-reported net income adjusted for preferred
dividends and tax-effected interest expense (B)	227		127		159
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)	189		130		158
Adjusted earnings (A-C)	125		79		107
Average invested capital (D)	2,892		2,712		2,495
Average invested capital, excluding securitization debt (E)	2,571		2,319		2,032
Average common equity (F)	1,341		1,165		1,015
Gross debt (G)	1,514		1,587		1,508
Less securitization debt (H)	284		358		429
Gross debt, excluding securitization debt (G-H)	1,230		1,229		1,079
Less cash and cash equivalents (I)	—		116		6
Net debt, excluding securitization debt (G-H-I)	1,230		1,114		1,073
Total capitalization (J)	2,936		2,847		2,577
Less securitization debt (K)	284		358		429
Total capitalization, excluding securitization debt (J-K)	2,652		2,489		2,148
Less cash and cash equivalents (L)	—		116		6
Net capitalization, excluding securitization debt (J-K-L)	2,652		2,374		2,142
(%)
ROIC – As-Reported (B/D)	7.8		4.7		6.4
ROIC – Adjusted ((B-C)/E)	7.4		5.6		7.8
ROE – As-Reported (A/F)	12.1		6.5		10.6
ROE – Adjusted ((A-C)/F)	9.3		6.8		10.5
Debt to capital (G/J)	51.6		55.7		58.5
Debt to capital, excluding securitization debt ((G-H)/(J-K))	46.4		49.4		50.2
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L))	46.4		46.9		50.1
Calculations may differ due to rounding.

REG G RECONCILIATIONS
SYSTEM ENERGY RESOURCES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018	2017	2016
As-reported net income (A)	94	79	97
Preferred dividends	—	—	—
Tax-effected interest expense	27	22	22
As-reported net income adjusted for preferred
dividends and tax-effected interest expense (B)	121	101	119
Adjustments
Tax reform	—	—	—
2012/2013 IRS audit settlement	—	—	—
Total Adjustments (C)	—	—	—
Adjusted earnings adjusted for preferred
dividends and tax-effected interest expense (B-C)	122	101	119
Adjusted earnings (A-C)	94	79	97
Average invested capital (D)	1,324	1,318	1,355
Average common equity (E)	724	725	760
Gross debt (F)	631	569	618
Less cash and cash equivalents (G)	96	287	246
Net debt (F-G)	535	282	372
Total capitalization (H)	1,368	1,280	1,357
Less cash and cash equivalents (I)	96	287	246
Net capitalization (H-I)	1,272	993	1,111
(%)
ROIC – As-Reported (B/D)	9.2	7.6	8.8
ROIC – Adjusted ((B-C)/D)	9.2	7.6	8.8
ROE – As-Reported (A/E)	13.0	10.8	12.7
ROE – Adjusted ((A-C)/E)	13.0	10.8	12.7
Debt to capital (F/H)	46.1	44.5	45.5
Net debt to net capital ((F-G)/(H-I))	42.1	28.5	33.5
Calculations may differ due to rounding.

REG G RECONCILIATIONS
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2016-2018
($ millions)	2018		2017		2016
As-reported net income (loss) attributable to Entergy Corporation	(343	)	(175	)	(1,495	)
Net income (loss)	(341	)	(172	)	(1,493	)
Add back: interest expense	34		24		23
Add back: income taxes	(269	)	(146	)	(1,192	)
Add back: depreciation and amortization	150		193		200
Subtract: interest and investment income	15		224		108
Add back: decommissioning expense	239		255		175
Adjusted EBITDA	(202	)	(71	)	(2,396	)
EWC As-reported net revenue	1,276		1,469		1,542
EWC Nuclear As-reported net revenue	1,258		1,456		1,533
Calculations may differ due to rounding.

ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q17-4Q18
($ millions)	1Q18		2Q18		3Q18		4Q18		1Q17		2Q17		3Q17	4Q17
As-reported net income (loss) attributable to Entergy Corporation	(18	)	(57	)	105		(373	)	(28	)	223		55	(425	)
Net income (loss)	(18	)	(56	)	106		(372	)	(27	)	224		56	(425	)
Add back: interest expense	8		8		9		8		6		6		5	6
Add back: income taxes	(1	)	(30	)	(136	)	(102	)	(78	)	(455	)	26	361
Add back: depreciation and amortization	38		39		40		34		53		52		52	36
Subtract: interest and investment income	(1	)	58		127		(169	)	43		59		41	81
Add back: decommissioning expense	58		60		56		64		75		60		60	60
Adjusted EBITDA	86		(37	)	(52	)	(199	)	(15	)	(172	)	158	(43	)
EWC As-reported net revenue	382		272		341		281		494		250		392	333
EWC Nuclear As-reported net revenue	379		267		339		274		491		247		391	327
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, 2019, there were 189,580,512 shares of Entergy
E–mail: dborde@entergy.com	common stock outstanding. Shareholders of record totaled
	24,919, and approximately 175,045 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 2018, 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, 2018.
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 2019 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 3			May 9	June 3
	July 26			August 8	September 3
ADDITIONAL INFORMATION	October 25			November 7	December 2
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, call 1-504-576-4846
or write to:	QUARTER	2018	2017	2016
Entergy Corporation	1	89	87	85
Investor Relations	2	89	87	85
P.O. Box 61000	3	89	87	85
New Orleans, LA 70161	4	91	89	87