Entergy 2014 Annual Report Download - page 180
Download and view the complete annual report
Please find page 180 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.
(QWHUJ\&RUSRUDWLRQDQG6XEVLGLDULHV
1RWHVWR)LQDQFLDO6WDWHPHQWV
GDWD WKDW PDUNHW SDUWLFLSDQWV ZRXOG XVH LQ SULFLQJ DVVHWV RU OLDELOLWLHV DW IDLU YDOXH 7KH LQSXWV FDQ EH UHDGLO\
REVHUYDEOH FRUURERUDWHG E\ PDUNHW GDWD RU JHQHUDOO\ XQREVHUYDEOH (QWHUJ\ DQG WKH 5HJLVWUDQW 6XEVLGLDULHV
HQGHDYRUWRXVHWKHEHVWDYDLODEOHLQIRUPDWLRQWRGHWHUPLQHIDLUYDOXH
$FFRXQWLQJ VWDQGDUGV HVWDEOLVK D IDLU YDOXH KLHUDUFK\ WKDW SULRULWL]HV WKH LQSXWV XVHG WR PHDVXUH IDLU
YDOXH 7KH KLHUDUFK\ HVWDEOLVKHV WKH KLJKHVW SULRULW\ IRU XQDGMXVWHG PDUNHW TXRWHV LQ DQ DFWLYH PDUNHW IRU WKH
LGHQWLFDO DVVHW RU OLDELOLW\ DQG WKH ORZHVW SULRULW\ IRU XQREVHUYDEOH LQSXWV 7KH WKUHH OHYHOV RI WKH IDLU YDOXH
KLHUDUFK\DUH
/HYHO/HYHOLQSXWVDUHXQDGMXVWHGTXRWHGSULFHVLQDFWLYHPDUNHWVIRULGHQWLFDODVVHWVRUOLDELOLWLHVWKDW
WKHHQWLW\KDVWKHDELOLW\WRDFFHVVDWWKHPHDVXUHPHQWGDWH$FWLYHPDUNHWVDUHWKRVHLQZKLFKWUDQVDFWLRQV
IRU WKH DVVHW RU OLDELOLW\ RFFXU LQ VXIILFLHQW IUHTXHQF\ DQG YROXPH WR SURYLGH SULFLQJ LQIRUPDWLRQ RQ DQ
RQJRLQJ EDVLV /HYHO SULPDULO\ FRQVLVWV RI LQGLYLGXDOO\ RZQHG FRPPRQ VWRFNV FDVK HTXLYDOHQWV
WHPSRUDU\FDVKLQYHVWPHQWVVHFXULWL]DWLRQUHFRYHU\WUXVWDFFRXQWDQGHVFURZDFFRXQWVGHEW LQVWUXPHQWV
DQG JDV KHGJH FRQWUDFWV &DVK HTXLYDOHQWV LQFOXGHV DOOXQUHVWULFWHG KLJKO\ OLTXLG GHEW LQVWUXPHQWV ZLWK DQ
RULJLQDORUUHPDLQLQJPDWXULW\RIWKUHHPRQWKVRUOHVVDWWKHGDWHRISXUFKDVH
/HYHO/HYHOLQSXWVDUHLQSXWVRWKHUWKDQTXRWHGSULFHVLQFOXGHGLQ/HYHOWKDWDUHHLWKHUGLUHFWO\RU
LQGLUHFWO\REVHUYDEOHIRUWKHDVVHWRUOLDELOLW\DWWKHPHDVXUHPHQWGDWH$VVHWVDUHYDOXHGEDVHGRQSULFHV
GHULYHGE\LQGHSHQGHQWWKLUGSDUWLHVWKDWXVHLQSXWVVXFKDVEHQFKPDUN\LHOGVUHSRUWHGWUDGHVEURNHUGHDOHU
TXRWHV DQGLVVXHU VSUHDGV3ULFHV DUH UHYLHZHG DQGFDQEHFKDOOHQJHG ZLWKWKHLQGHSHQGHQW SDUWLHV DQGRU
RYHUULGGHQE\(QWHUJ\LILWLVEHOLHYHGVXFKZRXOGEHPRUHUHIOHFWLYHRIIDLUYDOXH/HYHOLQSXWVLQFOXGH
WKHIROORZLQJ
TXRWHGSULFHVIRUVLPLODUDVVHWVRUOLDELOLWLHVLQDFWLYHPDUNHWV
TXRWHGSULFHVIRULGHQWLFDODVVHWVRUOLDELOLWLHVLQLQDFWLYHPDUNHWV
LQSXWVRWKHUWKDQTXRWHGSULFHVWKDWDUHREVHUYDEOHIRUWKHDVVHWRUOLDELOLW\RU
LQSXWVWKDWDUHGHULYHGSULQFLSDOO\IURPRUFRUURERUDWHGE\REVHUYDEOHPDUNHWGDWDE\FRUUHODWLRQRU
RWKHUPHDQV
/HYHOFRQVLVWVSULPDULO\RILQGLYLGXDOO\RZQHGGHEWLQVWUXPHQWVRUVKDUHVLQFRPPRQWUXVWV&RPPRQWUXVWIXQGV
DUHVWDWHGDWHVWLPDWHGIDLUYDOXHEDVHGRQWKHIDLUPDUNHWYDOXHRIWKHXQGHUO\LQJLQYHVWPHQWV
/HYHO/HYHOLQSXWVDUHSULFLQJLQSXWVWKDWDUHJHQHUDOO\OHVVREVHUYDEOHRUXQREVHUYDEOHIURPREMHFWLYH
VRXUFHV 7KHVH LQSXWV DUH XVHG ZLWK LQWHUQDOO\ GHYHORSHG PHWKRGRORJLHV WR SURGXFH PDQDJHPHQW¶V EHVW
HVWLPDWH RI IDLU YDOXH IRU WKH DVVHW RU OLDELOLW\ /HYHO FRQVLVWV SULPDULO\ RI )75V DQG GHULYDWLYH SRZHU
FRQWUDFWVXVHGDVFDVKIORZKHGJHVRISRZHUVDOHVDWPHUFKDQWSRZHUSODQWV
7KH YDOXHV IRU SRZHU FRQWUDFW DVVHWV RU OLDELOLWLHV DUH EDVHG RQ ERWK REVHUYDEOH LQSXWV LQFOXGLQJ SXEOLF
PDUNHW SULFHV DQG LQWHUHVW UDWHV DQG XQREVHUYDEOH LQSXWV VXFKDV LPSOLHG YRODWLOLWLHV XQLW FRQWLQJHQW GLVFRXQWV
H[SHFWHGEDVLV GLIIHUHQFHV DQGFUHGLW DGMXVWHG FRXQWHUSDUW\LQWHUHVW UDWHV7KH\ DUHFODVVLILHG DV/HYHO DVVHWVDQG
OLDELOLWLHV7KHYDOXDWLRQVRIWKHVHDVVHWVDQGOLDELOLWLHVDUHSHUIRUPHGE\WKH(QWHUJ\:KROHVDOH&RPPRGLWLHV5LVN
&RQWURO JURXS DQG WKH (QWHUJ\ :KROHVDOH &RPPRGLWLHV $FFRXQWLQJ 3ROLF\ DQG ([WHUQDO 5HSRUWLQJ JURXS 7KH
SULPDU\ IXQFWLRQV RI WKH (QWHUJ\:KROHVDOH&RPPRGLWLHV 5LVN &RQWURO JURXS LQFOXGH JDWKHULQJ YDOLGDWLQJ DQG
UHSRUWLQJPDUNHWGDWDSURYLGLQJPDUNHWULVNDQDO\VHVDQGYDOXDWLRQVLQVXSSRUWRI(QWHUJ\:KROHVDOH&RPPRGLWLHV¶
FRPPHUFLDO WUDQVDFWLRQV GHYHORSLQJ DQG DGPLQLVWHULQJ SURWRFROV IRU WKH PDQDJHPHQW RI PDUNHW ULVNV DQG
LPSOHPHQWLQJDQGPDLQWDLQLQJFRQWUROVDURXQGFKDQJHVWRPDUNHWGDWD LQ WKHHQHUJ\ WUDGLQJ DQG ULVN PDQDJHPHQW
V\VWHP7KH5LVN&RQWUROJURXS LVDOVRUHVSRQVLEOHIRUPDQDJLQJWKHHQHUJ\WUDGLQJDQGULVNPDQDJHPHQW V\VWHP
IRUHFDVWLQJUHYHQXHV IRUZDUGSRVLWLRQV DQGDQDO\VLV7KH(QWHUJ\:KROHVDOH&RPPRGLWLHV$FFRXQWLQJ3ROLF\ DQG
([WHUQDO5HSRUWLQJJURXSSHUIRUPVIXQFWLRQVUHODWHGWRPDUNHWDQGFRXQWHUSDUW\VHWWOHPHQWVUHYHQXHUHSRUWLQJDQG
DQDO\VLV DQG ILQDQFLDO DFFRXQWLQJ 7KH (QWHUJ\ :KROHVDOH &RPPRGLWLHV 5LVN &RQWURO JURXS UHSRUWV WR WKH 9LFH
3UHVLGHQW DQG 7UHDVXUHU ZKLOH WKH (QWHUJ\ :KROHVDOH &RPPRGLWLHV $FFRXQWLQJ 3ROLF\ DQG ([WHUQDO 5HSRUWLQJ
JURXSUHSRUWVWRWKH9LFH3UHVLGHQW$FFRXQWLQJ3ROLF\DQG([WHUQDO5HSRUWLQJ