Entergy 2009 Annual Report Download - page 26

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Entergy Corporation and Subsidiaries
Management's Financial Discussion and Analysis
22
Capital lease obligations, including nuclear fuel leases, are a minimal part of Entergy's overall capital
structure, and are discussed in Note 10 to the financial statements. Following are Entergy's payment obligations
under those leases:
2010 2011 2012 2013-2014 after 2014
(In Millions)
Capital lease payments, including nuclear
fuel leases $212 $319 $3 $4 $28
Notes payable includes borrowings outstanding on credit facilities with original maturities of less than one
year. Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, and Entergy Texas
each had credit facilities available as of December 31, 2009 as follows:
Company Expiration Date
Amount of
Facility Interest Rate (a)
Amount Drawn as
of Dec. 31, 2009
Entergy Arkansas April 2010 $88 million (b) 5.00% -
Entergy Gulf States Louisiana August 2012 $100 million (c) 0.71% -
Entergy Louisiana August 2012 $200 million (d) 0.64% -
Entergy Mississippi May 2010 $35 million (e) 1.98% -
Entergy Mississippi May 2010 $25 million (e) 1.98% -
Entergy Mississippi May 2010 $10 million (e) 1.91% -
Entergy Texas August 2012 $100 million (f) 0.71% -
(a)
The interest rate is the weighted average interest rate as of December 31, 2009 applied or that
would be applied to the outstanding borrowings under the facility.
(b) The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less o
f its total
capitalization and contains an interest rate floor of 5%. Borrowings under the Entergy
Arkansas credit facility may be secured by a security interest in its accounts receivable.
(c) The credit facility allows Entergy Gulf States Louisiana to
issue letters of credit against the
borrowing capacity of the facility. As of December 31, 2009, no letters of credit were
outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a
consolidated debt ratio of 65% or less of its
total capitalization. Pursuant to the terms of the
credit agreement, the amount of debt assumed by Entergy Texas ($168 million as of December
31, 2009 and $770 million as of December 31, 2008) is excluded from debt and capitalization
in calculating the debt ratio.
(d)
The credit facility allows Entergy Louisiana to issue letters of credit against the borrowing
capacity of the facility. As of December 31, 2009, no letters of credit were outstanding. The
credit agreement requires Entergy Louisiana to mai
ntain a consolidated debt ratio of 65% or
less of its total capitalization.
(e)
Borrowings under the Entergy Mississippi credit facilities may be secured by a security
interest in its accounts receivable. Entergy Mississippi is required to maintain a con
solidated
debt ratio of 65% or less of its total capitalization.
(f)
The credit facility allows Entergy Texas to issue letters of credit against the borrowing
capacity of the facility. As of December 31, 2009, no letters of credit were outstanding. The
credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of
its total capitalization. Pursuant to the terms of the credit agreement, securitization bonds are
excluded from debt and capitalization in calculating the debt ratio.
24