Entergy 2009 Annual Report Download - page 106

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Entergy Corporation and Subsidiaries
Notes to Financial Statements
102
2009 2008
(In Thousands)
Unamortized Premium and Discount - Net (10,635) (6,906)
Other 18,972 28,913
Total Long-Term Debt 11,417,695 11,718,749
Less Amount Due Within One Year 711,957 544,460
Long-Term Debt Excluding Amount Due Within One Year $10,705,738 $11,174,289
Fair Value of Long-Term Debt (e) $10,727,908 $10,117,865
(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) The bonds are secured by a series of collateral first mortgage bonds.
(c) In December 2005, Entergy Corporation sold 10 million equity units with a stated amount of $50 each. An
equity unit consisted of (1) a note, initially due February 2011 and initially bearing interest at an annual rate
of 5.75%, and (2) a purchase contract that obligated the holder of the equity unit to purchase for $50 between
0.5705 and 0.7074 shares of Entergy Corporation common stock on or before February 17, 2009. Entergy
paid the holders quarterly contract adjustment payments of 1.875% per year on the stated amount of $50 per
equity unit. Under the terms of the purchase contracts, Entergy attempted to remarket the notes in February
2009 but was unsuccessful, the note holders put the notes to Entergy, Entergy retired the notes, and Entergy
issued 6,598,000 shares of common stock in the settlement of the purchase contracts.
(d) 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.
(e) The fair value excludes lease obligations of $241 million at Entergy Louisiana and $267 million at System
Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of
$178 million at Entergy, and includes debt due within one year. It is determined using bid prices reported by
dealer markets and by nationally recognized investment banking firms.
(f) Entergy Gulf States Louisiana remains primarily liable for all of the long-term debt issued by Entergy Gulf
States, Inc. that was outstanding on December 31, 2007 and has not been subsequently repaid. Under a debt
assumption agreement with Entergy Gulf States Louisiana, Entergy Texas assumed approximately 46% of this
long-term debt.
The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt
outstanding as of December 31, 2009, for the next five years are as follows:
Amount
(In Thousands)
2010 $652,916
2011 $394,778
2012 $2,689,454
2013 $554,154
2014 $144,920
104