Entergy 2011 Annual Report Download - page 106

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Derivatives
The fair values of Entergy’s derivative instruments on the consolidated balance sheets as of December 31, 2011 are as follows (in millions):
Instrument Balance Sheet Location Fair Value(a) Offset(a) Business
Derivatives designated as hedging instruments
Assets:
Electricity forwards, swaps, and options Prepayments and other (current portion) $197 $(25) Entergy Wholesale Commodities
Electricity forwards, swaps, and options Other deferred debits and other assets
(non-current portion) $112 $(1) Entergy Wholesale Commodities
Liabilities:
Electricity forwards, swaps, and options Other current liabilities (current portion) $– $(–) Entergy Wholesale Commodities
Electricity forwards, swaps, and options Other non-current liabilities
(non-current portion) $1 $(1) Entergy Wholesale Commodities
Derivatives not designated as hedging instruments
Assets:
Electricity forwards, swaps, and options Prepayments and other (current portion) $37 $(8) Entergy Wholesale Commodities
Electricity forwards, swaps, and options Other deferred debits and other assets
(non-current portion) $– $(–) Entergy Wholesale Commodities
Liabilities:
Electricity forwards, swaps, and options Other current liabilities (current portion) $33 $(33) Entergy Wholesale Commodities
Electricity forwards, swaps, and options Other non-current liabilities
(non-current portion) $– $(–) Entergy Wholesale Commodities
Natural gas swaps Other current liabilities $30 $(–) Utility
The fair values of Entergy’s derivative instruments on the consolidated balance sheets as of December 31, 2010 are as follows (in millions):
Instrument Balance Sheet Location Fair Value(a) Offset(a) Business
Derivatives designated as hedging instruments
Assets:
Electricity forwards, swaps, and options Prepayments and other (current portion) $160 $(7) Entergy Wholesale Commodities
Electricity forwards, swaps, and options Other deferred debits and other assets
(non-current portion) $82 $(29) Entergy Wholesale Commodities
Liabilities:
Electricity forwards, swaps, and options Other current liabilities (current portion) $5 $(5) Entergy Wholesale Commodities
Electricity forwards, swaps, and options Other non-current liabilities
(non-current portion) $47 $(30) Entergy Wholesale Commodities
Derivatives not designated as hedging instruments
Assets:
Electricity forwards, swaps, and options Prepayments and other (current portion) $2 $(–) Entergy Wholesale Commodities
Electricity forwards, swaps, and options Other deferred debits and other assets
(non-current portion) $14 $(8) Entergy Wholesale Commodities
Liabilities:
Electricity forwards, swaps, and options Other current liabilities (current portion) $2 $(2) Entergy Wholesale Commodities
Electricity forwards, swaps, and options Other non-current liabilities
(non-current portion) $7 $(7) Entergy Wholesale Commodities
Natural gas swaps Other current liabilities $2 $(–) Utility
(a) The balances of derivative assets and liabilities in these tables are presented gross. Certain investments, including those not designated as hedging instruments,
are subject to master netting agreements and are presented on the Entergy Consolidated Balance Sheets on a net basis in accordance with accounting guidance
for Derivatives and Hedging.
The effect of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended
December 31, 2011, 2010, and 2009 is as follows (in millions):
Amount of Gain
Amount of Gain Reclassified from
Recognized in OCI Accumulated OCI into
Instrument (effective portion) Income Statement Location Income (effective portion)
2011
Electricity forwards, swaps, and options $296 Competitive businesses operating revenues $168
2010
Electricity forwards, swaps, and options $206 Competitive businesses operating revenues $220
2009
Electricity forwards, swaps, and options $315 Competitive businesses operating revenues $322
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
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