Entergy 2010 Annual Report Download - page 86

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Note 5. Long-Term Debt
Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2010 and 2009 consisted of (dollars in thousands):
Weighted-Average Interest Rate Ranges Outstanding at
Interest Rate at December 31, December 31,
Type of Debt and Maturity at December 31, 2010 2010 2009 2010 2009
Mortgage Bonds
2010 - 2015 4.68% 3.6% - 6.2% 4.5% - 6.2% $ 820,000 $ 1,662,120
2016 - 2020 5.98% 3.95% - 7.125% 4.95% - 7.125% 1,910,000 1,910,000
2021 - 2025 5.13% 3.75% - 5.66% 5.40% - 5.66% 1,258,738 909,097
2026 - 2035 5.90% 4.44% - 6.4% 5.65% - 7.6% 1,118,546 1,318,950
2039 - 2041 6.28% 5.75% - 7.875% 7.875% 755,000 150,000
Governmental Bonds(a)
2010 - 2015 4.26% 2.875% - 6.75% 5.45% - 7.0% 79,295 91,310
2016 - 2020 4.76% 4.6% - 5.8% 4.6% - 6.3% 65,540 214,200
2021 - 2025 5.67% 4.6% - 5.9% 4.6% - 5.9% 410,005 410,005
2026 - 2030 5.32% 5.0% - 6.2% 6.2% - 6.6% 288,680 111,680
Securitization Bonds
2013 - 2020 3.93% 2.12% - 5.79% 2.12% - 5.79% 474,318 505,628
2021 - 2023 4.25% 2.30% - 5.93% 4.38% - 5.93% 457,100 333,000
Variable Interest Entities Notes Payable (Note 4)
2011 - 2015 5.69% 2.125% - 9% – 474,200 –
Entergy Corporation Notes
due May 2010 – – 6.58% – 75,000
due November 2010 – – 6.9% – 140,000
due March 2011 n/a 7.06% 7.06% 86,000 86,000
due September 2015 n/a 3.625% – 550,000 –
due September 2020 n/a 5.125% – 450,000 –
Note Payable to NYPA (b) (b) (b) 155,971 177,543
5 Year Credit Facility (Note 4) n/a 0.78% 1.377% 1,632,120 2,566,150
Entergy Corporation Bank Term Loan due 2010 – – 1.41% – 60,000
Long-term DOE Obligation(c) – – – 180,919 180,683
Waterford 3 Lease Obligation(d) n/a 7.45% 7.45% 223,802 241,128
Grand Gulf Lease Obligation(d) n/a 5.13% 5.13% 222,280 266,864
Unamortized Premium and Discount - Net (10,181) (10,635)
Other 14,372 18,972
Total Long-Term Debt 11,616,705 11,417,695
Less Amount Due Within One Year 299,548 711,957
Long-Term Debt Excluding Amount Due Within One Year $11,317,157 $10,705,738
Fair Value of Long-Term Debt(e) $ 10,988,646 $ 10,727,908
(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.
(c) 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.
(d) See Note 10 for further discussion of the Waterford 3 and Grand Gulf Lease Obligations.
(e) The fair value excludes lease obligations of $224 million at Entergy Louisiana and $222 million at System Energy, long-term DOE obligations of $181 million at
Entergy Arkansas, and the note payable to NYPA of $156 million at Entergy, and includes debt due within one year. Fair values are based on prices derived by
independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.
Notes to Consolidated Financial Statements continued
84