Entergy 2003 Annual Report Download - page 72

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ENTERGY CORPORATION AND SUBSIDIARIES 2003
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
continued
Governmental Bonds (a) continued :Maturity Date 2003 2002
6.3% Series Pope County - Arkansas 2016 $ 19,500 $ 19,500
5.6% Series Jefferson County - Arkansas 2017 45,500 45,500
6.3% Series Jefferson County - Arkansas 2018 9,200 9,200
6.3% Series Pope County - Arkansas 2020 120,000 120,000
6.25% Series Independence County - Arkansas 2021 45,000 45,000
7.5% Series St. Charles Parish - Louisiana 2021 50,000 50,000
5.875% Series Mississippi Business Finance Corp. 2022 216,000 216,000
5.9% Series Mississippi Business Finance Corp. 2022 102,975 102,975
7.0% Series Warren County - Mississippi 2022 8,095 8,095
7.0% Series Washington County - Mississippi 2022 7,935 7,935
7.0% Series St. Charles Parish - Louisiana 2022 24,000 24,000
7.05% Series St. Charles Parish - Louisiana 2022 20,000 20,000
Auction Rate Independence City - Mississippi 2022 30,000 30,000
5.95% Series St. Charles Parish - Louisiana 2023 25,000 25,000
6.2% Series St. Charles Parish - Louisiana 2023 33,000 33,000
6.875% Series St. Charles Parish - Louisiana 2024 20,400 20,400
6.375% Series St. Charles Parish - Louisiana 2025 16,770 16,770
7.3% Series Claiborne County - Mississippi 2025 7,625 7,625
6.2% Series Claiborne County - Mississippi 2026 90,000 90,000
5.05% Series Pope County - Arkansas (b) 2028 47,000 47,000
5.65% Series West Feliciana Parish - Louisiana (c) 2028 62,000 62,000
6.6% Series West Feliciana Parish - Louisiana 2028 40,000 40,000
5.35% Series St. Charles Parish - Louisiana (d) 2029 – 110,950
Auction Rate St. Charles Parish - Louisiana 2030 60,000 60,000
4.9% Series St. Charles Parish - Louisiana (e)(f) 2030 55,000 55,000
Total governmental bonds $1,532,430 $1,643,380
Other Long-Term Debt: 2003 2002
Note Payable to NYPA, non-interest bearing, 4.8% implicit rate $ 514,708 $ 683,640
Bank Credit Facility (Entergy Corporation and Subsidiaries, Note 4) – 535,000
Bank Term Loan, Entergy Corporation, avg rate 2.98%, due 2005 60,000 60,000
Bank Term Loan, Entergy Corporation, avg rate 3.08%, due 2008 35,000 –
6.17% Notes due March 2008, Entergy Corporation 72,000 –
6.23% Notes due March 2008, Entergy Corporation 15,000 –
6.13% Notes due September 2008, Entergy Corporation 150,000 –
7.75% Notes due December 2009, Entergy Corporation 267,000 267,000
6.58% Notes due May 2010, Entergy Corporation 75,000 –
6.9% Notes due November 2010, Entergy Corporation 140,000 –
7.06% Notes due March 2011, Entergy Corporation 86,000 –
Long-term DOE Obligation (g) 154,409 152,804
Waterford 3 Lease Obligation, 7.45% (Entergy Corporation and Subsidiaries, Note 10) 262,534 297,950
Grand Gulf Lease Obligation, 7.02% (Entergy Corporation and Subsidiaries, Note 10) 403,468 414,843
Unamortized Premium and Discount - Net (11,853) (13,741)
Top of Iowa Wind Project Debt, avg rate 3.15% due 2003 – 79,029
8.5% Junior Subordinated Deferrable Interest Debentures, Due 2045 - Entergy Arkansas 61,856 61,856
8.75% Junior Subordinated Deferrable Interest Debentures, Due 2046 - Entergy Gulf States 87,629 87,629
9.0% Junior Subordinated Deferrable Interest Debentures, Due 2045 - Entergy Louisiana 72,165 72,165
Other 9,966 10,464
Total Long-Term Debt $7,847,312 $8,499,969
Less Amount Due Within One Year 524,372 1,191,320
Long-Term Debt Excluding Amount Due Within One Year $7,322,940 $7,308,649
Fair Value of Long-Term Debt (h) $7,113,740 $7,546,996
(a) Consists of pollution control revenue bonds and environmental revenue bonds, certain series of which are secured by non-interest bearing first mortgage bonds.
(b) The bonds are subject to mandatory tender for purchase from the holders at 100% of the principal amount outstanding on September 1, 2005 and can then be remarketed.
(c) The bonds are subject to mandatory tender for purchase from the holders at 100% of the principal amount outstanding on September 1, 2004 and can then be remarketed.
(d) The bonds had a mandatory tender date of October 1, 2003. Entergy Louisiana purchased the bonds from the holders, pursuant to the mandatory tender provision, and has
not remarketed the bonds at this time. Entergy Louisiana used a combination of cash on hand and short-term borrowing to buy-in the bonds.
(e) On June 1, 2002, Entergy Louisiana remarketed $55 million St. Charles Parish Pollution Control Revenue Refunding Bonds due 2030, resetting the interest rate to 4.9%
through May 2005.
(f) The bonds are subject to mandatory tender for purchase from the holders at 100% of the principal amount outstanding on June 1, 2005 and can then be remarketed.
(g) 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.
(h) The fair value excludes lease obligations, long-term DOE obligations, and other long-term debt and includes debt due within one year. It is determined using bid prices reported by
dealer markets and by nationally recognized investment banking firms.