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Entergy Corporation and Subsidiaries 2011
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
NOTE 13. BUSINESS SEGMENT INFORMATION
Entergy’s reportable segments as of December 31, 2011 are Utility and Entergy Wholesale Commodities. Utility includes the generation,
transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service
in portions of Louisiana. Entergy Wholesale Commodities includes the ownership and operation of six nuclear power plants located in the
northern United States and the sale of the electric power produced by those plants to wholesale customers. Entergy Wholesale Commodities
also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale
customers. “All Other” includes the parent company, Entergy Corporation, and other business activity, including the earnings on the proceeds
of sales of previously-owned businesses.
Entergy’s segment financial information is as follows:
Entergy
Wholesale
Utility Commodities* All Others Eliminations Consolidated
2011
Operating revenues $ 8,841,827 $ 2,413,773 $ 4,157 $ (30,684) $11,229,073
Deprec., amort. & decomm. 1,027,597 260,638 4,562 – 1,292,797
Interest and investment income 158,737 136,492 28,830 (194,925) 129,134
Interest expense 455,739 20,634 121,599 (84,345) 513,627
Income tax 27,311 225,456 33,496 – 286,263
Consolidated net income (loss) 1,123,866 491,841 (137,755) (110,580) 1,367,372
Total assets 32,734,549 10,533,080 (507,860) (2,058,070) 40,701,699
Investment in affiliates - at equity 199 44,677 – – 44,876
Cash paid for long-lived asset additions 2,351,913 1,048,146 (402) – 3,399,657
2010
Operating revenues $ 8,941,332 $ 2,566,156 $ 7,442 $ (27,353) $11,487,577
Deprec., amort. & decomm. 1,006,385 270,658 4,587 – 1,281,630
Interest and investment income 182,493 171,158 44,757 (212,953) 185,455
Interest expense 493,241 71,817 129,505 (119,396) 575,167
Income tax (benefits) 454,227 268,649 (105,637) – 617,239
Consolidated net income 829,719 489,422 44,721 (93,557) 1,270,305
Total assets 31,080,240 10,102,817 (714,968) (1,782,813) 38,685,276
Investment in affiliates - at equity 199 59,456 (18,958) – 40,697
Cash paid for long-lived asset additions 1,766,609 687,313 75 – 2,453,997
2009
Operating revenues $ 8,055,353 $ 2,711,078 $ 5,682 $ (26,463) $10,745,650
Deprec., amort. & decomm. 1,025,922 251,147 4,769 – 1,281,838
Interest and investment income (loss) 180,505 196,492 (10,470) (129,899) 236,628
Interest expense 462,206 78,278 86,420 (56,460) 570,444
Income tax (benefits) 388,682 322,255 (78,197) – 632,740
Consolidated net income (loss) 708,905 641,094 (25,511) (73,438) 1,251,050
Total assets 29,892,088 11,134,791 (646,756) (2,818,170) 37,561,953
Investment in affiliates - at equity 200 – 39,380 – 39,580
Cash paid for long-lived asset additions 1,872,997 661,596 (5,874) – 2,528,719
Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity.
Almost all of Entergy’s goodwill is related to the Utility segment.
On April 5, 2010, Entergy announced that, effective immediately, it planned to unwind the business infrastructure associated with its
proposed plan to spin-off its non-utility nuclear business. As a result of the plan to unwind the business infrastructure, Entergy recorded
expenses in the Entergy Wholesale Commodities segment. Other operating and maintenance expense includes the write-off of $64 million
of capital costs, primarily for software that will not be utilized. Interest charges include the write-off of $39 million of debt financing costs,
primarily incurred for the $1.2 billion credit facility related to the planned spin-off of Entergy’s non-utility nuclear business that will not
be used. Approximately $16 million of other costs were incurred in 2010 in connection with unwinding the planned non-utility nuclear
spin-off transaction.
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