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Entergy Corporation 2013 INTEGRATED REPORT 3
• the economic climate, and particularly economic conditions in
Entergy’s Utility service area and the Northeast United States and
events that could influence economic conditions in those areas;
• the effects of Entergy’s strategies to reduce tax payments;
• changes in the financial markets, particularly those affecting the
availability of capital and Entergy’s ability to refinance existing
debt, execute share repurchase programs, and fund investments
and acquisitions;
• actions of rating agencies, including changes in the ratings of
debt and preferred stock, changes in general corporate ratings,
and changes in the rating agencies’ ratings criteria;
• changes in inflation and interest rates;
• the effect of litigation and government investigations
or proceedings;
• changes in technology, including with respect to new, developing,
or alternative sources of generation;
• the potential effects of threatened or actual terrorism, cyber-attacks
or data security breaches, including increased security costs, and
war or a catastrophic event such as a nuclear accident or a natural
gas pipeline explosion;
• Entergy’s ability to attract and retain talented management
and directors;
• changes in accounting standards and corporate governance;
• declines in the market prices of marketable securities and resulting
funding requirements for Entergy’s defined benefit pension and
other postretirement benefit plans;
• future wage and employee benefit costs, including changes
in discount rates and returns on benefit plan assets;
• changes in decommissioning trust fund values or earnings or
in the timing of or cost to decommission nuclear plant sites;
• the implementation of the shutdown of Vermont Yankee by the
end of 2014 and the related decommissioning of Vermont Yankee;
• the effectiveness of Entergy’s risk management policies and
procedures and the ability and willingness of its counterparties
to satisfy their financial and performance commitments;
• factors that could lead to impairment of long-lived assets; and
• the ability to successfully complete merger, acquisition, or
divestiture plans, regulatory or other limitations imposed as a result
of merger, acquisition, or divestiture, and the success of the
business following a merger, acquisition, or divestiture.
Regulation G
This report includes the non-GAAP financial measure of operational
earnings per share. The reconciliation of this measure to the most
directly comparable GAAP measure is below.
GAAP TO NON-GAAP RECONCILIATION
Earnings Per Share 2013 2012
As-Reported $ 3.99 $ 4.76
Less Special Items:
Transmission business spin-merge expenses $ (0.02) $ (0.21)
HCM implementation expenses $ (0.20) $ –
Vermont Yankee asset impairments /
related charges $ (1.15) $ (1.26)
Total Special Items $ (1.37) $ (1.47)
Operational $ 5.36 $ 6.23
Forward-Looking Information and Regulation G Compliance