Entergy 2009 Annual Report Download - page 150

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Entergy Corporation and Subsidiaries
Notes to Financial Statements
146
Entergy New Orleans paid in full, in cash, the allowed third-party prepetition accounts payable
(approximately $29 million, including interest). Entergy New Orleans paid interest from September 23,
2005 at the Louisiana judicial rate of interest for 2005 (6%) and 2006 (8%), and at the Louisiana judicial
rate of interest (9.5%) plus 1% for 2007 through the date of payment.
Entergy New Orleans issued notes due in three years in satisfaction of its affiliate prepetition accounts
payable (approximately $74 million, including interest), including its indebtedness to the Entergy System
money pool. Entergy New Orleans included in the principal amount of the notes accrued interest from
September 23, 2005 at the Louisiana judicial rate of interest for 2005 (6%) and 2006 (8%), and at the
Louisiana judicial rate of interest plus 1% for 2007 through the date of issuance of the notes. Entergy New
Orleans will pay interest on the notes from their date of issuance at the Louisiana judicial rate of interest plus
1%. The Louisiana judicial rate of interest is 9.5% for 2007, 8.5% for 2008, 5.5% for 2009, and 3.5% for
2010.
Entergy New Orleans repaid in full, in cash, the outstanding borrowings under the debtor-in-possession
credit agreement between Entergy New Orleans and Entergy Corporation (approximately $67 million).
Entergy New Orleans' first mortgage bonds remain outstanding with their stated maturity dates and interest
terms. Pursuant to an agreement with its first mortgage bondholders, Entergy New Orleans paid the first
mortgage bondholders an amount equal to the one year of interest from the bankruptcy petition date that the
bondholders had waived previously in the bankruptcy proceeding (approximately $12 million).
Entergy New Orleans' preferred stock will remain outstanding on its stated dividend terms, and Entergy New
Orleans paid its unpaid preferred dividends in arrears (approximately $1 million).
Litigation claims were generally unaltered, and will generally proceed as if Entergy New Orleans had not
filed for bankruptcy protection, with exceptions for certain claims.
With confirmation of the plan of reorganization, Entergy reconsolidated Entergy New Orleans in the second
quarter 2007, retroactive to January 1, 2007. Because Entergy owns all of the common stock of Entergy New
Orleans, reconsolidation does not affect the amount of net income that Entergy records from Entergy New Orleans'
operations for any current or prior periods, but does result in Entergy New Orleans' results being included in each
individual income statement line item in 2007.
NOTE 19. QUARTERLY FINANCIAL DATA (UNAUDITED)
Operating results for the four quarters of 2009 and 2008 for Entergy Corporation and subsidiaries were:
Operating
Revenues
Operating
Income
Net
Income
(In Thousands)
2009:
First Quarter $2,789,112 $506,527 $235,335
Second Quarter $2,520,789 $474,496 $226,813
Third Quarter $2,937,095 $800,304 $455,169
Fourth Quarter $2,498,654 $503,119 $313,775
2008:
First Quarter $2,864,734 $606,233 $308,749
Second Quarter $3,264,271 $568,109 $270,954
Third Quarter $3,963,884 $752,092 $470,289
Fourth Quarter $3,000,867 $356,733 $170,574
148