Entergy 2014 Annual Report Download - page 30
Download and view the complete annual report
Please find page 30 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
0DQDJHPHQWV)LQDQFLDO'LVFXVVLRQDQG$QDO\VLV
WDNHQIURPWKH$6/%VGHFLVLRQRQVL[RIWKRVHHLJKWFRQWHQWLRQVVRWKH\KDYHEHHQFRQFOXVLYHO\UHVROYHGLQ(QWHUJ\V
IDYRU7KH$6/%UHVROYHGRQH7UDFNFRQWHQWLRQIDYRUDEO\WR1HZ<RUN6WDWH7KDWFRQWHQWLRQZDVEDVHGRQD
GLVSXWHRYHUWKHFKDUDFWHUL]DWLRQRIFHUWDLQHOHFWULFDOHTXLSPHQWDV³DFWLYH´RU³SDVVLYH´7KH$6/%IRXQGLQIDYRURI
WKH6WDWHRI1HZ<RUNGHVSLWHSUHFHGHQWVXSSRUWLQJWKHFKDUDFWHUL]DWLRQDGYRFDWHGE\(QWHUJ\DQG15&VWDII
)ROORZLQJWKH$6/%V1RYHPEHUGHFLVLRQRQ7UDFNFRQWHQWLRQVWKH6WDWHRI1HZ<RUNDQG&OHDUZDWHU
HDFKDSSHDOHGWKHGHFLVLRQRQDVLQJOHFRQWHQWLRQ6$0$GHFRQWDPLQDWLRQFRVWHVWLPDWHVIRUWKH6WDWHRI1HZ<RUN
DQGHQYLURQPHQWDOMXVWLFHIRU&OHDUZDWHUZKLOH5LYHUNHHSHUILOHGQRDSSHDOV(QWHUJ\DQG15&VWDIIERWKDSSHDOHG
WKHVDPHWKUHHLVVXHVWKH$6/%¶VGHFLVLRQRQHOHFWULFDOWUDQVIRUPHUVFHUWDLQLQWHUPHGLDWHGHWHUPLQDWLRQVLQ
WKH$6/%¶VRYHUDOOIDYRUDEOHGHFLVLRQRQHQYLURQPHQWDOMXVWLFHDQGWKH$6/%¶VHDUOLHUGHFLVLRQVRQ6$0$FRVW
HVWLPDWHVWKXVUHQHZLQJWKHLUDSSHDOVRIWKDWLVVXHSUHYLRXVO\GHQLHGE\WKH15&DVSUHPDWXUH$SSHDODGGUHVVHG
DFRQWHQWLRQWKDWZDVRQHRIWKHIRXUGHFLGHGZLWKRXWKHDULQJ7KHUHPDLQLQJDSSHDOVDGGUHVVHGFRQWHQWLRQVWKDWZHUH
WULHGLQ7UDFNKHDULQJV
,Q)HEUXDU\WKH15&JUDQWHGSHWLWLRQVIRUUHYLHZRIWZRDSSHDOVIRUWKHSXUSRVHRIREWDLQLQJDGGLWLRQDO
LQIRUPDWLRQSULRUWRPDNLQJILQDOGLVSRVLWLRQ7KHDSSHDOVIRUZKLFKWKH15&UHTXHVWHGDQVZHUVWRVSHFLILHGTXHVWLRQV
ZHUH1HZ<RUN6WDWH¶VDSSHDORQ6$0$GHFRQWDPLQDWLRQFRVWHVWLPDWHVDQGWKHDSSHDORI(QWHUJ\DQG15&VWDIIRQ
6$0$FRVWHVWLPDWHV7KH15&VWDWHGWKDWWKHUHPDLQLQJDSSHDOVILOHGDIWHUWKH$6/%¶V7UDFNGHFLVLRQZRXOGEH
UHVROYHGLQWKHIXWXUH7KHUHLVQRGHDGOLQHIRUWKH15&DFWLRQRQHLWKHUJURXSRIDSSHDOVIURPWKH$6/%
7KHUHPDLQLQJIRXUDGPLWWHGFRQVROLGDWHGFRQWHQWLRQVZHUHGHVLJQDWHGE\WKH$6/%DV³7UDFN´,Q$SULO
WKH$6/%JUDQWHG(QWHUJ\¶VPRWLRQWRGLVPLVVDVPRRWDFRQWHQWLRQE\5LYHUNHHSHUDOOHJLQJWKDWWKH)6(,6IDLOHG
WRDGHTXDWHO\DGGUHVVHQGDQJHUHGVSHFLHVLVVXHV$WWKHVDPHWLPHWKH$6/%GHQLHGDPRWLRQILOHGE\5LYHUNHHSHU
LQ$XJXVWWRDPHQGLWVHQGDQJHUHGVSHFLHVFRQWHQWLRQ7KHVH$6/%GHFLVLRQVZHUHQRWDSSHDOHGDQGDUHQRZ
ILQDOPDNLQJDWRWDORIQLQHRIWKHRULJLQDODGPLWWHGFRQVROLGDWHGFRQWHQWLRQVWKDWKDYHEHHQUHVROYHGIDYRUDEO\RU
LQWKHFDVHRIVHWWOHPHQWDFFHSWDEO\WR(QWHUJ\6HYHQRIWKHRULJLQDODGPLWWHGFRQVROLGDWHGFRQWHQWLRQVDUHRQ
DSSHDOIRXUWRWDORUSHQGLQJKHDULQJRQ7UDFNWKUHHWRWDO
:KLOH7UDFNKHDULQJVKDYHQRWEHHQVFKHGXOHGWKHSURFHGXUDOVWHSVOHDGLQJWRVXFKKHDULQJVKDYHEHJXQ
3XUVXDQWWR$6/%SURFHGXUDORUGHUV1HZ<RUN6WDWHILOHGLQ)HEUXDU\SURSRVHGUHYLVLRQVWRWZRRIWKHWKUHH
DGPLWWHGFRQWHQWLRQVGHVLJQDWHGDV7UDFN(QWHUJ\DQG15&VWDIIZLOOKDYHDQRSSRUWXQLW\WRRSSRVHRUWRVHHN
OLPLWDWLRQVRQWKRVHFRQWHQWLRQUHYLVLRQVDIWHUZKLFKWKH$6/%ZLOOGHFLGHZKHWKHUWRDFFHSW1HZ<RUN6WDWH¶VSURSRVHG
UHYLVLRQVWRSUHYLRXVO\DGPLWWHGFRQWHQWLRQV,QDGGLWLRQEHIRUH7UDFNKHDULQJVDUHFRQYHQHGWKHSDUWLHVZLOOKDYH
WKHRSSRUWXQLW\WRXSGDWHDQGFRPSOHWHWKHLUWHVWLPRQ\
,QGHSHQGHQWRIWKH$6/%SURFHVVWKH15&VWDIIKDVSHUIRUPHGLWVWHFKQLFDODQGHQYLURQPHQWDOUHYLHZVRI
WKH,QGLDQ3RLQWDQG,QGLDQ3RLQWOLFHQVHUHQHZDODSSOLFDWLRQ7KH15&VWDIILVVXHGDQ)6(5LQ$XJXVWD
VXSSOHPHQWWRWKH)6(5LQ$XJXVWDQ)6(,6LQ'HFHPEHUDVXSSOHPHQWWRWKH)6(,6LQ-XQHDQG
DVQRWHGDERYHDIXUWKHUVXSSOHPHQWWRWKH)6(5LQ1RYHPEHU,Q1RYHPEHUWKH15&VWDIIDGYLVHGRI
LWVSURSRVHGVFKHGXOHIRULVVXDQFHRIDIXUWKHU)6(,6VXSSOHPHQWWRDGGUHVVQHZLQIRUPDWLRQUHFHLYHGE\15&VWDII
VLQFHSUHSDUDWLRQDQGSXEOLFDWLRQRIWKHSUHYLRXV)6(,6VXSSOHPHQWLQ-XQH7KHSURSRVHGVFKHGXOHLGHQWLILHV
VHYHUDOPLOHVWRQHVOHDGLQJWRWKHLVVXDQFHRIDQHZILQDO)6(,6VXSSOHPHQWLQ0DUFK7KHPDWWHUVWREHDGGUHVVHG
LQWKHQHZVXSSOHPHQWLQFOXGH(QWHUJ\¶V0D\VXEPLWWDORIXSGDWHGFRVWLQIRUPDWLRQIRU 6$0$V(QWHUJ\¶V
)HEUXDU\ VXEPLWWDO RI QHZ DTXDWLF LPSDFW LQIRUPDWLRQ WKH -XQH UHYLVLRQ E\ WKH 15& RI LWV *HQHULF
(QYLURQPHQWDO,PSDFW6WDWHPHQWUHOLHGXSRQLQOLFHQVHUHQHZDOSURFHHGLQJVDQGWKH15&¶V&RQWLQXHG6WRUDJH2I
6SHQW1XFOHDU)XHOUXOHZKLFKZDVSXEOLVKHGLQWKH)HGHUDO5HJLVWHULQ6HSWHPEHU
7KHKHDULQJSURFHVVLVDQLQWHJUDOFRPSRQHQWRIWKH15&¶VUHJXODWRU\IUDPHZRUNDQGHYLGHQWLDU\KHDULQJV
RQOLFHQVHUHQHZDODSSOLFDWLRQVDUHQRWXQFRPPRQ(QWHUJ\LVSDUWLFLSDWLQJIXOO\LQWKHKHDULQJDQGDSSHDOVSURFHVVHV
DVDXWKRUL]HGE\WKH15&UHJXODWLRQV$VQRWHGLQ(QWHUJ\ILOLQJVDWWKH$6/%DQGWKHDSSHOODWHOHYHOV(QWHUJ\
EHOLHYHVWKHFRQWHQWLRQVSURSRVHGE\WKHLQWHUYHQRUVDUHXQVXSSRUWHGDQGZLWKRXWPHULW(QWHUJ\ZLOOFRQWLQXHWRZRUN
ZLWKWKH15&VWDIIDVLWFRPSOHWHVLWVWHFKQLFDODQGHQYLURQPHQWDOUHYLHZVRIWKH,QGLDQ3RLQWDQGOLFHQVHUHQHZDO