Equity (Tables)

9 Months Ended

Sep. 30, 2023

Schedule Of Earnings Per Share Basic And Diluted

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

	For the Three Months Ended September 30,
	2023		2022
	(In Millions, Except Per Share Data)
		$/share		$/share
Net income attributable to Entergy Corporation	$666.8		$560.6
Basic shares and earnings per average common share	211.5	$3.15	203.4	$2.76
Average dilutive effect of:
Stock options	0.2	—	0.5	(0.01)
Other equity plans	0.5	(0.01)	0.6	(0.01)
Equity forwards	—	—	0.1	—
Diluted shares and earnings per average common shares	212.2	$3.14	204.6	$2.74

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was 1,305,354 options for the three months ended September 30, 2023 and 926,403 options for the three months ended September 30, 2022.

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

	For the Nine Months Ended September 30,
	2023		2022
	(In Millions, Except Per Share Data)
		$/share		$/share
Net income attributable to Entergy Corporation	$1,368.9		$996.7
Basic shares and earnings per average common share	211.4	$6.47	203.3	$4.90
Average dilutive effect of:
Stock options	0.3	(0.01)	0.5	(0.01)
Other equity plans	0.5	(0.01)	0.5	(0.01)
Equity forwards	—	—	0.1	—
Diluted shares and earnings per average common shares	212.2	$6.45	204.4	$4.88

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was 1,138,384 options for the nine months ended September 30, 2023 and 937,350 options for the nine months ended September 30, 2022.

Schedule of Accumulated Other Comprehensive Income (Loss)

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

	Pension and Other Postretirement Liabilities
	(In Thousands)
Beginning balance, July 1, 2023	($193,019)
Amounts reclassified from accumulated other comprehensive income (loss)	(2,434)
Net other comprehensive income (loss) for the period	(2,434)
Ending balance, September 30, 2023	($195,453)

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

	Cash flow hedges net unrealized gain (loss)	Pension and other postretirement liabilities	Net unrealized investment gain (loss)	Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, July 1, 2022	($987)	($324,274)	$1,223	($324,038)
Other comprehensive income (loss) before reclassifications	(14)	—	(1,223)	(1,237)
Amounts reclassified from accumulated other comprehensive income	38	11,867	—	11,905
Net other comprehensive income (loss) for the period	24	11,867	(1,223)	10,668
Ending balance, September 30, 2022	($963)	($312,407)	$—	($313,370)

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

	Pension and Other Postretirement Liabilities
	(In Thousands)
Beginning balance, January 1, 2023	($191,754)
Amounts reclassified from accumulated other comprehensive income (loss)	(3,699)
Net other comprehensive income (loss) for the period	(3,699)
Ending balance, September 30, 2023	($195,453)

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

	Cash flow hedges net unrealized gain (loss)	Pension and other postretirement liabilities	Net unrealized investment gain (loss)	Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2022	($1,035)	($338,647)	$7,154	($332,528)
Other comprehensive income (loss) before reclassifications	(42)	—	(12,997)	(13,039)
Amounts reclassified from accumulated other comprehensive income (loss)	114	26,240	5,843	32,197
Net other comprehensive income (loss) for the period	72	26,240	(7,154)	19,158
Ending balance, September 30, 2022	($963)	($312,407)	$—	($313,370)

Reclassification out of Accumulated Other Comprehensive Income

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

	Amounts reclassified from AOCI		Income Statement Location
	2023	2022
	(In Thousands)
Cash flow hedges net unrealized loss
Interest rate swaps	$—	($48)	Miscellaneous - net
Total realized loss on cash flow hedges	—	(48)
Income taxes	—	10	Income taxes
Total realized loss on cash flow hedges (net of tax)	$—	($38)
Pension and other postretirement liabilities
Amortization of prior-service credit	$3,396	$3,837	(a)
Amortization of net gain (loss)	1,700	(4,870)	(a)
Settlement loss	(1,919)	(14,339)	(a)
Total amortization and settlement loss	3,177	(15,372)
Income taxes	(743)	3,505	Income taxes
Total amortization and settlement loss (net of tax)	$2,434	($11,867)
Net unrealized investment gain (loss)
Total realized investment gain (loss)	$—	$—
Total reclassifications for the period (net of tax)	$2,434	($11,905)

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

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

	Amounts reclassified from AOCI		Income Statement Location
	2023	2022
	(In Thousands)
Cash flow hedges net unrealized loss
Interest rate swaps	$—	($145)	Miscellaneous - net
Total realized loss on cash flow hedges	—	(145)
Income taxes	—	31	Income taxes
Total realized loss on cash flow hedges (net of tax)	$—	($114)
Pension and other postretirement liabilities
Amortization of prior-service credit	$10,191	$11,511	(a)
Amortization of net gain (loss)	4,994	(29,774)	(a)
Settlement loss	(10,408)	(15,666)	(a)
Total amortization and settlement loss	4,777	(33,929)
Income taxes	(1,078)	7,689	Income taxes
Total amortization and settlement loss (net of tax)	$3,699	($26,240)
Net unrealized investment loss
Realized loss	$—	($9,245)	Interest and investment income
Income taxes	—	3,402	Income taxes
Total realized investment loss (net of tax)	$—	($5,843)
Total reclassifications for the period (net of tax)	$3,699	($32,197)

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

Entergy Louisiana [Member]

Schedule of noncontrolling interest

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

	2023	2022
	(In Thousands)
Entergy Louisiana Noncontrolling Interests
Restoration Law Trust I (a)	$32,084	$31,735
Restoration Law Trust II (b)	15,130	—
Total Noncontrolling Interests	$47,214	$31,735

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

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

Schedule of Accumulated Other Comprehensive Income (Loss)

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

	Pension and Other Postretirement Liabilities
	2023	2022
	(In Thousands)
Beginning balance, July 1,	$52,811	$7,174
Amounts reclassified from accumulated other comprehensive income (loss)	(1,829)	295
Net other comprehensive income (loss) for the period	(1,829)	295
Ending balance, September 30,	$50,982	$7,469

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

	Pension and Other Postretirement Liabilities
	2023	2022
	(In Thousands)
Beginning balance, January 1,	$55,370	$8,278
Amounts reclassified from accumulated other comprehensive income (loss)	(4,388)	(809)
Net other comprehensive income (loss) for the period	(4,388)	(809)
Ending balance, September 30,	$50,982	$7,469

Reclassification out of Accumulated Other Comprehensive Income

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

	Amounts reclassified from AOCI		Income Statement Location
	2023	2022
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit	$951	$1,158	(a)
Amortization of gain (loss)	1,574	(222)	(a)
Settlement loss	(22)	(1,340)	(a)
Total amortization and settlement loss	2,503	(404)
Income taxes	(674)	109	Income taxes
Total amortization and settlement loss (net of tax)	1,829	(295)
Total reclassifications for the period (net of tax)	$1,829	($295)

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

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

	Amounts reclassified from AOCI		Income Statement Location
	2023	2022
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit	$2,853	$3,474	(a)
Amortization of gain (loss)	4,703	(849)	(a)
Settlement loss	(1,551)	(1,518)	(a)
Total amortization and settlement loss	6,005	1,107
Income taxes	(1,617)	(298)	Income taxes
Total amortization and settlement loss (net of tax)	4,388	809
Total reclassifications for the period (net of tax)	$4,388	$809

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