Entergy 2009 Annual Report Download - page 58

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Entergy Corporation and Subsidiaries
Management's Financial Discussion and Analysis
54
New Accounting Pronouncements
In June 2009 the FASB issued SFAS 167, "Amendments to FASB Interpretation No. 46R". SFAS 167
replaces the current quantitative-based risks and rewards calculation for determining which enterprise, if any, has a
controlling financial interest in a variable interest entity with an approach focused on identifying which enterprise has
the power to direct the activities of a variable interest entity that most significantly affect the entity's economic
performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity.
SFAS 167 also requires additional disclosures on an interim and annual basis about an enterprise's involvement in
variable interest entities. The standard will be effective for Entergy in the first quarter 2010. Upon adoption,
Entergy expects its subsidiaries that finance their nuclear fuel purchases through nuclear fuel leases to consolidate
the special purpose nuclear fuel companies acting as lessors. The adoption of this statement will result in the
reclassification of amounts between certain line items in the financial statements.
56