Entergy 2014 Annual Report Download - page 139

Download and view the complete annual report

Please find page 139 of the 2014 Entergy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 192

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192

(QWHUJ\&RUSRUDWLRQDQG6XEVLGLDULHV
1RWHVWR)LQDQFLDO6WDWHPHQWV
DVUHTXLULQJIROORZXSLQVSHFWLRQWRGHWHUPLQHZKHWKHUSHUIRUPDQFHGHILFLHQFLHVH[LVWHG,Q0DUFKWKH15&
LVVXHG DQ LQVSHFWLRQ UHSRUW RQ WKH IROORZXS LQVSHFWLRQ WKDW GLVFXVVHG WZR SUHOLPLQDU\ ILQGLQJV RQH WKDW ZDV
SUHOLPLQDULO\ GHWHUPLQHG WR EH ³UHG ZLWK KLJK VDIHW\ VLJQLILFDQFH´ IRU 8QLW  DQG RQH WKDW ZDV SUHOLPLQDULO\
GHWHUPLQHGWREH³\HOORZZLWKVXEVWDQWLDOVDIHW\VLJQLILFDQFH´IRU8QLWZLWKWKH15&LQGLFDWLQJIXUWKHUWKDWWKHVH
SUHOLPLQDU\ILQGLQJV PD\ ZDUUDQW DGGLWLRQDO UHJXODWRU\ RYHUVLJKW  7KLV UHSRUW DOVR QRWHG WKDW RQH DGGLWLRQDO LWHP
UHODWHGWRIORRGEDUULHUHIIHFWLYHQHVVZDVVWLOOXQGHUUHYLHZ
,Q0D\ WKH15& PHW ZLWK (QWHUJ\ GXULQJD UHJXODWRU\FRQIHUHQFH WR GLVFXVV WKHSUHOLPLQDU\ UHGDQG
\HOORZ ILQGLQJV DQG (QWHUJ\¶V UHVSRQVH WR WKH ILQGLQJV  'XULQJ WKH UHJXODWRU\ FRQIHUHQFH (QWHUJ\ SUHVHQWHG
LQIRUPDWLRQ RQ WKH IDFWV DQG DVVXPSWLRQV WKH 15& XVHG WR DVVHVV WKH SRWHQWLDO ILQGLQJV  7KH 15& XVHG WKH 
LQIRUPDWLRQSURYLGHGE\(QWHUJ\DWWKHUHJXODWRU\FRQIHUHQFHWRILQDOL]HLWVGHFLVLRQUHJDUGLQJWKHLQVSHFWLRQWHDV
ILQGLQJV  ,Q D OHWWHU GDWHG -XQH   WKH 15& FODVVLILHG ERWK ILQGLQJV DV ³\HOORZ ZLWK VXEVWDQWLDO VDIHW\
VLJQLILFDQFH´,QDQDVVHVVPHQWIROORZXSOHWWHUIRU$12GDWHG-XO\WKH15&VWDWHGWKDW JLYHQWKHWZR
\HOORZILQGLQJVLWGHWHUPLQHGWKDWWKHSHUIRUPDQFHDW$12LVLQWKH³GHJUDGHGFRUQHUVWRQHFROXPQ´RUFROXPQ
RI WKH 15&¶V UHDFWRU RYHUVLJKW SURFHVV DFWLRQ PDWUL[ EHJLQQLQJ WKH ILUVW TXDUWHU   &RUUHFWLYH DFWLRQV LQ
UHVSRQVH WR WKH 15&¶V ILQGLQJV KDYH EHHQ WDNHQ DQG UHPDLQ RQJRLQJ DW $12  7KH 15& SODQV WR FRQGXFW
VXSSOHPHQWDOLQVSHFWLRQDFWLYLW\WRUHYLHZWKHDFWLRQVWDNHQWRDGGUHVVWKH\HOORZILQGLQJV(QWHUJ\ZLOOFRQWLQXHWR
LQWHUDFWZLWKWKH15&WRDGGUHVVWKH15&¶VILQGLQJV 
 ,Q6HSWHPEHUWKH15&LVVXHGDQLQVSHFWLRQUHSRUWRQWKHIORRGEDUULHUHIIHFWLYHQHVVLVVXHWKDWZDVVWLOO
XQGHUUHYLHZDWWKHWLPHRIWKH0DUFKLQVSHFWLRQUHSRUW:KLOH(QWHUJ\EHOLHYHVWKDWWKHIORRGEDUULHULVVXHV
WKDW OHG WR WKH ILQGLQJ KDYH EHHQ DGGUHVVHG DW $12 15& SURFHVVHVVWLOOUHTXLUHG WKDWWKH15& DVVHVVWKHVDIHW\
VLJQLILFDQFHRIWKHGHILFLHQFLHV,QLWV6HSWHPEHULQVSHFWLRQUHSRUWWKH15&GLVFXVVHGDSUHOLPLQDU\ILQGLQJ
RI ³\HOORZ ZLWK VXEVWDQWLDO VDIHW\ VLJQLILFDQFH´ IRU WKH 8QLW  DQG 8QLW  DX[LOLDU\ DQG HPHUJHQF\ GLHVHO IXHO
VWRUDJH EXLOGLQJV 7KH 15& LQGLFDWHG WKDW WKHVH SUHOLPLQDU\ ILQGLQJV PD\ ZDUUDQW DGGLWLRQDO UHJXODWRU\
RYHUVLJKW(QWHUJ\UHTXHVWHGDSXEOLFUHJXODWRU\FRQIHUHQFHUHJDUGLQJWKHLQVSHFWLRQ DQGWKHFRQIHUHQFHZDVKHOG
RQ 2FWREHU    'XULQJ WKH UHJXODWRU\ FRQIHUHQFH (QWHUJ\ SUHVHQWHG LQIRUPDWLRQ UHODWHG WR WKH IDFWV DQG
DVVXPSWLRQVXVHGE\WKH15&LQDUULYLQJDWLWVSUHOLPLQDU\ILQGLQJRI³\HOORZZLWKVXEVWDQWLDOVDIHW\VLJQLILFDQFH´
,Q -DQXDU\  WKH 15& LVVXHG LWV ILQDO ULVN VLJQLILFDQFH GHWHUPLQDWLRQ IRU WKH IORRG EDUULHU YLRODWLRQ RULJLQDOO\
FLWHGLQWKH6HSWHPEHUUHSRUW7KH15&¶VILQDOULVNVLJQLILFDQFHGHWHUPLQDWLRQZDVFODVVLILHGDV³\HOORZZLWK
VXEVWDQWLDOVDIHW\VLJQLILFDQFH´
 7KH15&¶V-DQXDU\OHWWHUGLGQRWDGYLVH$12RIWKHDGGLWLRQDOOHYHORIRYHUVLJKWWKDWZLOOUHVXOWIURP
WKH\HOORZILQGLQJUHODWHGWRWKHIORRGEDUULHULVVXHDQGLWVWDWHGWKDWWKH15&ZRXOGLQIRUP$12RIWKLVGHFLVLRQ
E\ VHSDUDWH FRUUHVSRQGHQFH  7KH \HOORZ ILQGLQJ PD\ UHVXOW LQ $12 EHLQJ SODFHG LQWR WKH ³PXOWLSOHUHSHWLWLYH
GHJUDGHGFRUQHUVWRQHFROXPQ´RIWKH15&¶VUHDFWRURYHUVLJKWSURFHVVDFWLRQPDWUL[ 3ODFHPHQW LQWRWKLVFROXPQ
ZRXOGUHTXLUHVLJQLILFDQWDGGLWLRQDO15&LQVSHFWLRQDFWLYLWLHVDWWKH$12VLWHLQFOXGLQJDUHYLHZRIWKHVLWVURRW
FDXVHHYDOXDWLRQDVVRFLDWHGZLWKWKHIORRGEDUULHUDQGVWDWRULVVXHVDQDVVHVVPHQWRIWKHHIIHFWLYHQHVVRIWKHVLWH¶V
FRUUHFWLYH DFWLRQ SURJUDP DQ DGGLWLRQDO GHVLJQ EDVLV LQVSHFWLRQ D VDIHW\ FXOWXUH DVVHVVPHQW DQG SRVVLEO\ RWKHU
LQVSHFWLRQDFWLYLWLHVFRQVLVWHQWZLWKWKH15&¶V,QVSHFWLRQ3URFHGXUH7KHDGGLWLRQDO15&LQVSHFWLRQDFWLYLWLHVDW
WKHVLWHDUHH[SHFWHGWRLQFUHDVH$1VRSHUDWLQJFRVWV
Baxter Wilson Plant Event
2Q6HSWHPEHU(QWHUJ\0LVVLVVLSSL¶V%D[WHU:LOVRQ8QLWSRZHUSODQWH[SHULHQFHGDVLJQLILFDQW
XQSODQQHGRXWDJHHYHQW(QWHUJ\0LVVLVVLSSLFRPSOHWHGWKHUHSDLUVWRWKHXQLWLQ'HFHPEHU$VRI'HFHPEHU
  (QWHUJ\ 0LVVLVVLSSL LQFXUUHG  PLOOLRQ RI FDSLWDO VSHQGLQJ DQG  PLOOLRQ RI RSHUDWLRQ DQG
PDLQWHQDQFH H[SHQVHV WR UHWXUQ WKH XQLW WR VHUYLFH  7KH GDPDJH ZDV FRYHUHG E\ (QWHUJ\ 0LVVLVVLSSLV SURSHUW\
LQVXUDQFHSROLF\VXEMHFWWRDPLOOLRQGHGXFWLEOH$VRI'HFHPEHU(QWHUJ\0LVVLVVLSSLUHFRUGHGDQ
LQVXUDQFHUHFHLYDEOHRIPLOOLRQIRUWKHDPRXQWH[SHFWHGWREHUHFHLYHGIURPLWVLQVXUDQFHSROLF\DOORFDWLQJ
 PLOOLRQ RI WKH H[SHFWHG LQVXUDQFH SURFHHGV WR FDSLWDO VSHQGLQJ DQG  PLOOLRQ WR RSHUDWLRQ DQG
PDLQWHQDQFHH[SHQVHV,Q-XQH(QWHUJ\0LVVLVVLSSLILOHGDUDWHFDVHZLWKWKH036&ZKLFKLQFOXGHVUHFRYHU\
RI WKH FRVWV DVVRFLDWHG ZLWK %D[WHU :LOVRQ 8QLW  UHSDLU DFWLYLWLHV QHW RI DSSOLFDEOH LQVXUDQFH SURFHHGV ,Q 
'HFHPEHU  WKH 036& LVVXHG DQ RUGHU WKDW SURYLGHG IRU D GHIHUUDO RI  PLOOLRQ LQ RWKHU RSHUDWLRQ DQG
