Entergy 2003 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 2003 Entergy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

50
ENTERGY CORPORATION AND SUBSIDIARIES 2003
CONSOLIDATED STATEMENTS OF INCOME
In thousands, except share data, for the years ended December 31, 2003 2002 2001
OPERATING REVENUES:
Domestic electric $7,397,175 $6,646,414 $7,244,827
Natural gas 186,176 125,353 185,902
Competitive businesses 1,611,569 1,533,268 2,190,170
Total 9,194,920 8,305,035 9,620,899
OPERATING EXPENSES:
Operating and maintenance:
Fuel, fuel-related expenses, and gas purchased for resale 1,987,217 2,154,596 3,681,677
Purchased power 1,697,959 832,334 1,021,432
Nuclear refueling outage expenses 159,995 105,592 89,145
Provision for turbine commitments, asset impairments,
and restructuring charges (7,743) 428,456 –
Other operation and maintenance 2,484,436 2,488,112 2,151,742
Decommissioning 146,100 76,417 28,586
Taxes other than income taxes 405,659 380,462 399,849
Depreciation and amortization 850,503 839,181 721,033
Other regulatory credits – net (13,761) (141,836) (20,510)
Total 7,710,365 7,163,314 8,072,954
OPERATING INCOME 1,484,555 1,141,721 1,547,945
OTHER INCOME:
Allowance for equity funds used during construction 42,710 31,658 26,209
Interest and dividend income 87,386 118,325 159,805
Equity in earnings of unconsolidated equity affiliates 271,647 183,878 162,882
Miscellaneous – net (76,505) 13,892 457
Total 325,238 347,753 349,353
INTEREST AND OTHER CHARGES:
Interest on long-term debt 485,964 526,442 563,758
Other interest – net 53,553 70,560 172,241
Allowance for borrowed funds used during construction (33,191) (24,538) (21,419)
Total 506,326 572,464 714,580
INCOME BEFORE INCOME TAXES AND
CUMULATIVE EFFECT OF ACCOUNTING CHANGES 1,303,467 917,010 1,182,718
Income taxes 490,074 293,938 455,693
INCOME BEFORE CUMULATIVE EFFECT
OF ACCOUNTING CHANGES 813,393 623,072 727,025
CUMULATIVE EFFECT OF ACCOUNTING
CHANGES (NET OF INCOME TAXES OF $89,925 IN 2003
AND $10,064 IN 2001) 137,074 – 23,482
CONSOLIDATED NET INCOME 950,467 623,072 750,507
Preferred dividend requirements and other 23,524 23,712 24,311
EARNINGS APPLICABLE TO COMMON STOCK $ 926,943 $ 599,360 $ 726,196
Earnings per average common share before
cumulative effect of accounting changes:
Basic $ 3.48 $ 2.69 $ 3.18
Diluted $ 3.42 $ 2.64 $ 3.13
Earnings per average common share:
Basic $ 4.09 $ 2.69 $ 3.29
Diluted $ 4.01 $ 2.64 $ 3.23
Dividends declared per common share $ 1.60 $ 1.34 $ 1.28
Average number of common shares outstanding:
Basic 226,804,370 223,047,431 220,944,270
Diluted 231,146,040 227,303,103 224,733,662
See Notes to Consolidated Financial Statements.