File No. 70-____
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-1
APPLICATION-DECLARATION
Under
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
Entergy Corporation Entergy Enterprises, Inc.
639 Loyola Avenue Three Financial Centre
New Orleans, LA 70113 900 S. Shackleford Road -Suite 210
Little Rock, AS 72211
(Names of companies filing this statement and
addresses of principal executive offices)
Entergy Corporation
(Name of top registered holding company parent
of each applicant or declarant)
Jerry D. Jackson
Executive Vice President - Marketing
and External Affairs
Entergy Corporation
639 Loyola Avenue
New Orleans, Louisiana 70113
(Name and address of agent for service)
The Commission is also requested to send copies of any
communications in connection with this matter to:
John A. Brayman Frederick F. Nugent, Esq.
Executive Vice President General Counsel
Entergy Enterprises, Inc. Entergy Enterprises,
Inc.
Three Financial Centre, Suite 210 Three Financial
Centre, Suite 210
Little Rock, AS 72211 Little Rock, AS 72211
Laurence M. Hamric, Esq. William T. Baker, Jr., Esq.
General Attorney Reid & Priest LLP
Entergy Services, Inc. 40 West 57th Street
639 Loyola Avenue New York, NY 10019
New Orleans, LA 70113
<PAGE>
Item 1. Description of Proposed Transactions.
Entergy Corporation ("Entergy"), a registered holding
company under the Public Utility Holding Company Act of 1935, as
amended ("Act"), and its wholly-owned, non-utility subsidiary
company, Entergy Enterprises, Inc. ("Enterprises"), hereby
request the authorization of the Securities and Exchange
Commission ("Commission") under the Act for Entergy to invest up
to $30 million through September 30, 1997, in one or more new
direct or indirect subsidiaries of Entergy and/or Enterprises
("New Subsidiaries").
The investments would be in the form of acquisitions of
stock and/or debt securities, capital contributions, open account
advances, guarantees of indebtedness or other extensions of
credit, whether directly in the New Subsidiary or indirectly
through one or more New Subsidiary intermediate holding
companies. Interest on the debt securities would be established
at a rate not to exceed the prime rate in effect on the date of
the issuance of the securities at a bank designated by Entergy,
and the debt securities would have a maturity not later than
December 31, 2005. The New Subsidiaries either directly or
indirectly would acquire interests in non-utility businesses,
including, among others, network-based businesses,
telecommunications, energy and security management services
businesses or environmental technology businesses. With respect
to network-based businesses or telecommunications, such
businesses would involve wired or wireless networks or systems,
including, among others, cable or personal communications or
other data communication services, which could be interactive and
developed to permit utility applications, including remote meter
reading and reporting of power outages. Such businesses could
operate inside and outside the Entergy System's1 service
territory, or both.
___________________________________
1. Entergy and its various direct and indirect subsidiaries
comprise the Entergy System ("Entergy System" or "System"),
which currently consists of (1) five retail electric utility
companies, Arkansas Power & Light Company, Gulf States
Utilities Company, Louisiana Power & Light Company,
Mississippi Power & Light Company and New Orleans Public
Service Inc., (2) a wholesale generating company that sells
power to the System Operating Companies, System Energy
Resources, Inc., (3) a wholesale generating company that
sells power to non-affiliates, Entergy Power, Inc., (4) a
service company subsidiary, Entergy Services, Inc. ("ESI"),
(5) a nuclear management service company, Entergy
Operations, Inc., (6) Enterprises, (7) a fuel supply
company, System Fuels, Inc., (8) an energy management
services company, Entergy Systems and Service, Inc., (9) two
companies formed to own Entergy's interests in certain
Argentine utility companies, Entergy S.A. and Entergy
Argentina S.A., and (10) various direct and indirect
subsidiary companies of Entergy formed to own Entergy's
interest in "eligible facilities" within the meaning of
Section 32(a) of the Act and "foreign utility companies"
within the meaning of Section 33 of the Act.
Entergy and Enterprises request that the Commission
treat the investments proposed in this Application-Declaration as
within the de minimis budget approach to diversified investments
by registered holding company systems comprehended by the Report
on The Regulation of Public-Utility Holding Companies, dated June
1995, of the Division of Investment Management ("Report"). As a
percentage of consolidated assets of the Entergy System ($22.5
billion at June 30, 1995), the proposed investments would amount,
in the aggregate, to not more than 0.133%, clearly a de minimis
amount.
The proposed investments would be made nonrecourse as
to other Entergy System companies and assets, and be isolated in
one or more New Subsidiaries. Enterprises would provide services
to the New Subsidiaries of the types and at the prices specified
and authorized by the Commission, in File No. 70-8105 (HCAR 35-
26322). To the extent that additional affiliate transactions
between the New Subsidiaries and other Entergy System companies,
except for the investments and the provision of services by
Enterprises, become necessary, the applicants will seek any
requisite regulatory approval at the time.
The proceeds from the investments will not be used to
invest directly or indirectly in an exempt wholesale generator
("EWG") or foreign utility company ("FUCO"), as defined in
Sections 32 and 33, respectively, of the Act.
The proposed transactions are also subject to Rule 54
and, therefore, in determining whether to approve the issue or
sale of a security by a registered holding company for purposes
other than the acquisition of an EWG or FUCO, or other
transactions by such registered holding company or its
subsidiaries other than with respect to EWGs or FUCOs, the
Commission shall not consider the effect of the capitalization or
earnings of any subsidiary which is an EWG or FUCO upon the
registered holding company system if Rules 53(a), (b) and (c) are
satisfied. In that regard, assuming consummation of the
transactions proposed in this Application-Declaration, all of the
conditions set forth in Rule 53(a) are, and will be, satisfied
and none of the conditions set forth in Rule 53(b) exists or, as
a result thereof, will exist.
Entergy's "aggregate investment" in EWGs and FUCOs is
approximately $196.7 million, representing approximately 8.79% of
the Entergy System's consolidated retained earnings as of June
30, 1995. Furthermore, Entergy has complied with and will
continue to comply with the record keeping requirements of Rule
53(a)(2) concerning affiliated EWGs and FUCOs. In addition, as
required by Rule 53(a)(3), no more than 2% of the employees of
Entergy System's domestic public utility subsidiary companies
would render services to affiliated EWGs and FUCOs. Finally,
none of the conditions set forth in Rule 53(b), under which the
provisions of Rule 53 would not be available, have been met.
Item 2. Fees, Commissions and Expenses.
The fees, commissions and expenses incurred in
connection with the filing of this Application-Declaration will
be supplied by amendment.
Item 3. Applicable Statutory Provisions.
Entergy and Enterprises consider Sections 6(a), 7,
9(a), 10, 12 and 13 of the Act, and Rule 45(b) thereunder, to be
applicable to the proposed transactions. To the extent that the
proposed transactions are considered by the Commission to require
authorization, approval or exemption under any Section of the Act
or rules thereunder, other than those specifically referred to
above, request for such authorization, approval or exemption is
hereby made.
Item 4. Regulatory Approval.
Entergy and Enterprises are not now aware that any
activity that would be carried out under this Application-
Declaration would require prior approval of state or federal
regulatory bodies, other than the Commission. To the extent that
approval by state or federal regulatory bodies, other than the
Commission, of transactions proposed in this Application-
Declaration becomes necessary, the applicants will seek such
regulatory approval(s) at the time.
Item 5. Procedure.
Entergy and Enterprises request that the Commission
issue its order as soon as practicable but in any event no later
than October 20, 1995. Entergy and Enterprises hereby (1) waive
a recommended decision by a hearing officer or other responsible
officer of the Commission, (2) consent that the Division of
Investment Management may assist in the preparation of the
Commission's decision in this proceeding, and (3) request that
there be no waiting period between the issuance of the
Commission's order and the date on which it is to become
effective. As specified in the Report, Entergy and Enterprises
will file a certificate pursuant to Rule 24 under the Act within
10 days of creation of any New Subsidiary and its related
acquisition of an interest, specifying the amount invested and
the nature of the interest acquired.
Item 6. Exhibits and Financial Statements.
(a) Exhibits:
*A-1 - Form of Articles ofIncorporation of New Subsidiary.
*A-2 - Form of By-Laws of New Subsidiary.
*F - Opinion of Counsel.
H - Form of Notice of Proposed Transactions.
(b) Financial Statements:**
Financial Statements of Entergy and of Entergy
and subsidiaries consolidated as of June 30, 1995.
Financial Statements of Enterprises as of June 30, 1995,
including pro forma journal entries.
Item 7. Information as to Environmental Effects.
(a) The Commission's action in this matter will not
constitute any major federal action significantly affecting the
quality of the human environment.
(b) No other federal agency has prepared or is
preparing an environmental impact statement with regard to the
proposed transactions.
_______________________________
* To be supplied by amendment.
** Except as reflected in the Financial Statements, no material
changes not in the ordinary course of business have taken
place since June 30, 1995.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935, the undersigned companies have duly
caused this statement to be signed on their behalf by the
undersigned thereunto duly authorized.
ENTERGY CORPORATION
By:_________________________
Michael G. Thompson
Senior Vice President,
General Counsel and Secretary
ENTERGY ENTERPRISES, INC.
By:_________________________
Michael G. Thompson
Senior Vice President -
Law and Secretary
Dated: September 5, 1995
Exhibit H
[FORM OF NOTICE]
Entergy Corporation ("Entergy"), 639 Loyola
Avenue, New Orleans, Louisiana, a registered holding company
under the Public Utility Holding Company Act of 1935
("Act"), and its wholly-owned, non-utility subsidiary
company, Entergy Enterprises, Inc. ("Enterprises"), Three
Financial Centre, Little Rock, Arkansas, have filed an
Application-Declaration under Sections 6(a), 7, 9(a), 10, 12
and 13 of the Act and Rule 45(b) thereunder, requesting the
authorization of the Commission under the Act for Entergy to
invest up to $30 million through September 30, 1997, in one
or more new direct or indirect subsidiaries of Entergy
and/or Enterprises ("New Subsidiaries"). The investments
would be in the form of acquisitions of stock and/or debt
securities, capital contributions, open account advances,
guarantees of indebtedness or other extensions of credit,
whether directly in the New Subsidiary or through one or
more New Subsidiary intermediate holding companies.
Interest on the debt securities would be established at a
rate not to exceed the prime rate in effect on the date of
the issuance of the securities at a bank designated by
Entergy, and the debt securities would have a maturity not
later than December 31, 2005. The New Subsidiaries either
directly or indirectly would acquire interests in non-
utility businesses, including, among others, network-based
businesses, telecommunications, energy and security
management services businesses or environmental technology
businesses. With respect to network-based businesses or
telecommunications, such businesses would involve wired or
wireless networks or systems, including, among others, cable
or personal communications or other data communication
services, which could be interactive and developed to permit
utility applications, including remote meter reading and
reporting of power outages. Such businesses could operate
inside and outside the Entergy System's service territory,
or both. Entergy and Enterprises request that the
Commission treat the investments proposed in this paragraph
as within the de minimis budget approach to diversified
investments by registered holding company systems
comprehended by the Report on The Regulation of Public-
Utility Holding Companies, dated June 1995, of the Division
of Investment Management. As a percentage of consolidated
assets of the Entergy System ($22.5 billion at June 30,
1995), the proposed investments would amount, in the
aggregate, to not more than 0.133%.
The proposed investments would be made nonrecourse
as to other Entergy System companies and assets, and be
isolated in one or more New Subsidiaries. Enterprises would
provide services to the New Subsidiaries of the types and at
the prices specified, and authorized by the Commission, in
File No. 70-8105 (HCAR 35-26322). To the extent that
additional affiliate transactions between the New
Subsidiaries and other Entergy System companies, except for
the investments and the provision of services by
Enterprises, become necessary, the applicants will seek any
requisite regulatory approval at the time.
The proceeds from the investments will not be used
to invest directly or indirectly in an exempt wholesale
generator or foreign utility company, as defined in Sections
32 and 33, respectively, of the Act.
FINANCIAL STATEMENTS
_________________________________________
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM U-1
ENTERGY CORPORATION
___________________________________________
AS OF JUNE 30, 1995
(Unaudited)
_____________________________________________
<TABLE>
<CAPTION>
ENTERGY CORPORATION
PRO FORMA BALANCE SHEET
JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
ASSETS Transaction Filing Transaction
(In Thousands)
Investment in wholly owned subsidiaries $ 6,305,456 $ 30,000 $ 6,335,456
Current Assets:
Temporary cash investments 55,719 -30,000 25,719
Notes receivable - associated companies 18,358 18,358
Accounts receivable:
Associated companies 11,351 11,351
Other 356 356
Other current assets 9,110 9,110
--------------- --------------- ---------------
Total 94,894 -30,000 64,894
Other Investments --------------- --------------- ---------------
Deferred Debits
Accumulated deferred income taxes 7,081 7,081
Miscellaneous deferred debits 52,606 52,606
--------------- --------------- ---------------
Total 59,687 0 59,687
--------------- --------------- ---------------
TOTAL $ 6,460,037 $ 0 $ 6,460,037
--------------- --------------- ---------------
LIABILITIES
Capitalization:
Common stock $ 2,300 $ 2,300
Paid-in capital 4,199,643 4,199,643
Retained earnings 2,236,785 2,236,785
Less - treasury stock 67,270 67,270
--------------- --------------- ---------------
Total common shareholders' equity 6,371,458 0 6,371,458
Other Noncurrent Liabilities 67,460 0 67,460
--------------- --------------- ---------------
Current Liabilities:
Accounts payable:
Associated company 2,876 2,876
Other 1,696 1,696
Other 4,710 4,710
--------------- --------------- ---------------
Total 9,282 0 9,282
--------------- --------------- ---------------
Deferred Credits - Other 11,837 11,837
--------------- --------------- ---------------
Total 11,837 0 11,837
--------------- --------------- ---------------
TOTAL $ 6,460,037 $ 0 $ 6,460,037
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION
PRO FORMA STATEMENT OF INCOME
TWELVE MONTHS ENDED JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
Transaction Filing Transaction
(In Thousands)
Income:
Equity in income of subsidiaries $ 367,387 $ 367,387
Interest on temporary investments 30,291 30,291
--------------- --------------- ---------------
Total 397,678 0 397,678
--------------- --------------- ---------------
Expenses and Other Deductions:
Administrative and general expenses 60,661 60,661
Interest
Associated 11 11
Other 542 542
Income taxes -9,879 -9,879
Taxes other than income 546 546
--------------- --------------- ---------------
Total 51,881 0 51,881
--------------- --------------- ---------------
Net Income $ 345,797 $ 0 $ 345,797
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION
PRO FORMA STATEMENT OF RETAINED
EARNINGS AND PAID-IN CAPITAL
TWELVE MONTHS ENDED JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
RETAINED EARNINGS Transaction Filing Transaction
(In Thousands)
Retained Earnings - Beginning of period $ 2,318,200 $ 2,318,200
Add - Net income 345,797 345,797
--------------- --------------- ---------------
Total 2,663,997 0 2,663,997
--------------- --------------- ---------------
Deduct:
Dividends declared on common stock 409,477 409,477
Common stock retirements 13,940 13,940
Capital stock and other expenses 3,795 3,795
--------------- --------------- ---------------
Total 427,212 0 427,212
--------------- --------------- ---------------
Retained Earnings - End of period $ 2,236,785 $ 0 $ 2,236,785
=============== =============== ===============
PAID-IN CAPITAL
Paid-in Capital - Beginning of period $ 4,224,208 $ 4,224,208
Add:
Gain (loss) on the reacquisition of
preferred stock and others 34 34
Issuance of 56,667,726 shares of common
stock in the merger with GSU -5,715 -5,715
--------------- --------------- ---------------
Total -5,681 0 # -5,681
Deduct:
Common stock retirements 22,468 22,468
Capital stock and other expenses - net -3,584 -3,584
--------------- --------------- ---------------
Total 18,884 0 18,884
--------------- --------------- ---------------
Paid-in Capital - End of period $ 4,199,643 0 $ 4,199,643
=============== =============== ===============
</TABLE>
<PAGE>
Entergy Corporation
Entergy Enterprises, Inc.
Journal Entries
(In Thousands)
Investment in Wholly Owned Subsidiaries 30,000
Cash 30,000
To invest in one or more new subsidiaries which would either directly or
indirectly acquire interests, or options to acquire interests, in any
businesses, including among others, the telecommunications,
energy management services or environmental technology businesses.
FINANCIAL STATEMENTS
_________________________________________
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM U-1
ENTERGY CORPORATION
AND SUBSIDIARIES CONSOLIDATED
___________________________________________
AS OF JUNE 30, 1995
(Unaudited)
_____________________________________________
<TABLE>
<CAPTION>
ENTERGY CORPORATION AND SUBSIDIARIES
PRO FORMA CONSOLIDATED BALANCE SHEET
JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
ASSETS Transaction Filing Transaction
(In Thousands)
Utility Plant:
Electric $ 21,350,820 $ 21,350,820
Plant acquisition adjustment - GSU 479,822 479,822
Electric plant under leases 668,843 668,843
Property under capital leases - electric 155,067 155,067
Natural gas 166,109 166,109
Steam products 77,307 77,307
Construction work in progress 529,091 529,091
Nuclear fuel under capital leases 330,238 330,238
Nuclear fuel 37,463 37,463
--------------- --------------- ---------------
Other Investments 23,794,760 0 23,794,760
Less - accumulated depreciation
and amortization 7,958,011 7,958,011
--------------- --------------- ---------------
Utility plant - net 15,836,749 0 15,836,749
--------------- --------------- ---------------
Other Property and Investments:
Decommissioning trust funds 242,805 242,805
Other 295,445 30,000 325,445
--------------- --------------- ---------------
Total 538,250 30,000 568,250
--------------- --------------- ---------------
Current Assets:
Cash and cash equivalents:
Cash 116,109 116,109
Temporary cash investments - at cost,
which approximates market 328,720 -30,000 298,720
--------------- --------------- ---------------
Total cash and cash equivalents 444,829 -30,000 414,829
Special deposits 17,447 17,447
Notes receivable 15,929 15,929
Accounts receivable:
Customer (less allowance for doubtful
accounts of $6.7 million) 336,931 336,931
Other 47,970 47,970
Accrued unbilled revenues 350,709 350,709
Deferred Fuel 28,662 28,662
Fuel inventory 130,386 130,386
Materials and supplies - at average cost 380,654 380,654
Rate deferrals 398,281 398,281
Prepayments and other 123,526 123,526
--------------- --------------- ---------------
Total 2,275,324 -30,000 2,245,324
--------------- --------------- ---------------
Deferred Debits and Other Assets:
Regulatory assets:
Rate deferrals 1,275,634 1,275,634
SFAS 109 regulatory asset - net 1,417,996 1,417,996
Unamortized loss on reacquired debt 228,878 228,878
Other regulatory assets 320,630 320,630
Long-term receivables 277,446 277,446
Other 339,760 339,760
--------------- --------------- ---------------
Total 3,860,344 0 3,860,344
--------------- --------------- ---------------
TOTAL $ 22,510,667 $ 0 $ 22,510,667
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION AND SUBSIDIARIES
PRO FORMA CONSOLIDATED BALANCE SHEET
JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
CAPITALIZATION AND LIABILITIES Transactions Filing Transactions
(In Thousands)
Capitalization:
Common stock, $0.01 par value,
authorized 500,000,000 shares;
issued 230,017,485 shares $ 2,300 $ 2,300
Paid-in capital 4,199,643 4,199,643
Retained earnings 2,236,785 2,236,785
Less - treasury stock (2,268,318 shares) 67,270 67,270
--------------- --------------- ---------------
Total common shareholders' equity 6,371,458 0 6,371,458
Preference stock 150,000 150,000
Subsidiaries' preferred stock:
Without sinking fund 550,955 550,955
With sinking fund 273,698 273,698
Long-term debt 7,023,655 7,023,655
--------------- --------------- ---------------
Total 14,369,766 0 14,369,766
--------------- --------------- ---------------
Other Noncurrent Liabilities:
Obligations under capital leases 330,548 330,548
Other 320,000 320,000
--------------- --------------- ---------------
Total 650,548 0 650,548
--------------- --------------- ---------------
Current Liabilities:
Currently maturing long-term debt 403,060 403,060
Notes payable: 68,333 68,333
Accounts payable 396,408 396,408
Customer deposits 138,775 138,775
Taxes accrued 170,502 170,502
Accumulated deferred income taxes 41,342 41,342
Interest accrued 187,715 187,715
Dividends declared 12,883 12,883
Obligations under capital leases 152,730 152,730
Reserve for rate refund 66,943 66,943
Other 278,743 278,743
--------------- --------------- ---------------
Total 1,917,434 0 1,917,434
Deferred Credits:
Accumulated deferred income taxes 3,891,164 3,891,164
Accumulated deferred investment
tax credits 667,289 667,289
Other 1,014,466 1,014,466
--------------- --------------- ---------------
Total 5,572,919 0 5,572,919
--------------- --------------- ---------------
TOTAL $ 22,510,667 $ 0 $ 22,510,667
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION AND SUBSIDIARIES
PRO FORMA STATEMENT OF CONSOLIDATED INCOME
TWELVE MONTHS ENDED JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
Transactions Filing Transactions
(In Thousands)
Operating Revenues:
Electric 5,739,770 5,739,770
Natural gas 102,905 102,905
Steam products 46,415 46,415
--------------- --------------- ---------------
Total 5,889,090 0 5,889,090
Operating Expenses:
Operation and maintenance:
Fuel, fuel-related expenses,
and gas purchased for resale 1,375,465 1,375,465
Purchased power 294,266 294,266
Nuclear refueling outage expenses 83,723 83,723
Operation and maintenance 1,561,700 1,561,700
Depreciation, amortization, and decommissioning 674,332 674,332
Taxes other than income taxes 291,783 291,783
Income taxes 155,763 155,763
Amortization of rate deferrals 393,389 393,389
--------------- --------------- ---------------
Total 4,830,421 0 4,830,421
--------------- --------------- ---------------
Operating Income 1,058,669 0 1,058,669
--------------- --------------- ---------------
Other Income (Deductions):
Allowance for equity funds used
during construction 10,080 10,080
Miscellaneous - net 19,017 19,017
Income taxes 10,812 10,812
--------------- --------------- ---------------
Total 39,909 0 39,909
--------------- --------------- ---------------
Interest and Other Charges:
Interest on long-term debt 653,695 653,695
Other interest - net 28,809 28,809
Allowance for borrowed funds
used during construction -8,973 -8,973
Preferred dividend requirements of
subsidiaries and other 79,250 79,250
--------------- --------------- ---------------
Total 752,781 0 752,781
--------------- --------------- ---------------
Net Income $ 345,797 $ 0 $ 345,797
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION AND SUBSIDIARIES
PRO FORMA STATEMENT OF CONSOLIDATED RETAINED EARNINGS
TWELVE MONTHS ENDED JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
RETAINED EARNINGS Transactions Filing Transactions
(In Thousands)
Retained Earnings - Beginning of period $ 2,318,200 $ 2,318,200
Add - Net income 345,797 345,797
--------------- --------------- ---------------
Total 2,663,997 0 2,663,997
--------------- --------------- ---------------
Deduct:
Dividends declared on common stock 409,477 409,477
Common stock retirements 13,940 13,940
Capital stock and other expenses 3,795 3,795
--------------- --------------- ---------------
Total 427,212 0 427,212
--------------- --------------- ---------------
Retained Earnings - End of period 2,236,785 0 2,236,785
PAID-IN CAPITAL
Paid-in Capital - Beginning of period 4,224,208 4,224,208
Add:
Gain (loss) on the reacquisition of
preferred stock and others 34 34
Issuance of 56,667,726 shares of common
stock in the merger with GSU -5,715 -5,715
--------------- --------------- ---------------
Total -5,681 0 -5,681
--------------- --------------- ---------------
Deduct:
Common stock retirements 22,468 22,468
Capital stock and other expenses -3,584 -3,584
--------------- --------------- ---------------
Total 18,884 0 18,884
--------------- --------------- ---------------
Paid-in Capital - End of period $ 4,199,643 $ 0 $ 4,199,643
=============== =============== ===============
</TABLE>
FINANCIAL STATEMENTS
_________________________________________
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM U-1
ENTERGY ENTERPRISES, INC.
___________________________________________
AS OF JUNE 30, 1995
(Unaudited)
_____________________________________________
<TABLE>
<CAPTION>
ENTERGY ENTERPRISES, INC.
PRO FORMA BALANCE SHEET
JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
ASSETS Transaction Filing Transaction
(In Thousands)
Property:
Furniture & equipment $ 1,007 $ 1,007
Intangible assets 63 63
--------------- --------------- ---------------
Total 1,070 0 1,070
--------------- --------------- ---------------
Investment:
Investment in subsidiary company - at equity 0 $ 30,000 30,000
Investments in FPN 4,717 4,717
Investments in Entergy SASI, Inc. 138,500 138,500
Earnings from Entergy SASI, Inc. -26,838 -26,838
Other Investments 30 30
--------------- --------------- ---------------
Total 116,409 30,000 146,409
--------------- --------------- ---------------
Current Assets:
Cash and cash equivalents:
Cash 730 730
Temporary cash investments 999 999
--------------- --------------- ---------------
Total cash and cash equivalents 1,729 0 1,729
Accounts receivable 43 43
Accounts receivable - associated companies 12,326 12,326
Taxes accrued 3,404 3,404
--------------- --------------- ---------------
Total 17,502 0 17,502
--------------- --------------- ---------------
Deferred Debits:
FPN License (Net of Amortization) 1,930 1,930
Accum. Deferred Income Tax - Federal & State 4,979 4,979
--------------- --------------- ---------------
Total Deferred Debits 6,909 0 6,909
--------------- --------------- ---------------
TOTAL $ 141,890 $ 30,000 $ 171,890
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERPRISES, INC.
PRO FORMA BALANCE SHEET
JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
CAPITALIZATION AND LIABILITIES Transaction Filing Transaction
(In Thousands)
Capitalization:
Common Stock $ 54,400 $ 54,400
Miscellaneous Paid In Capital 125,000 125,000
Retained Earnings -41,364 -41,364
Retained Earnings - Unreal. Holding Losses -2,926 -2,926
--------------- --------------- ---------------
Total 135,110 0 135,110
--------------- --------------- ---------------
Current Liabilities:
Notes Payable - associated companies 0 $ 30,000 30,000
Accounts Payable 799 799
Accounts payable - associated companies 1,011 1,011
Other 1,363 1,363
--------------- --------------- ---------------
Total 3,173 30,000 33,173
Deferred Credits - Other 3,607 3,607
--------------- --------------- ---------------
Total 3,607 0 3,607
--------------- --------------- ---------------
TOTAL $ 141,890 $ 30,000 $ 171,890
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERPRISES, INC.
PRO FORMA STATEMENT OF INCOME
TWELVE MONTHS ENDED JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
Transaction Filing Transaction
(In Thousands)
Revenues: <C> <C> <C>
Services rendered - non-associated companies $ 210 $ 210
Services rendered - associated companies 18,115 18,115
Equity in earnings of subsidiaries -17,451 -17,451
Interest Income 169 169
--------------- --------------- ---------------
Total 1,043 0 1,043
--------------- --------------- ---------------
Expenses:
Salaries, wages and benefits 9,143 9,143
Outside services 7,426 7,426
Administrative and general 3,216 3,216
Active development reserve -188 -188
Other 1,080 1,080
--------------- --------------- ---------------
Total 20,677 0 20,677
Depreciation and amortization 502 502
Amortization of organizational cost 649 649
Miscellaneous expenses 46 46
--------------- --------------- ---------------
Total expenses 21,874 0 21,874
--------------- --------------- ---------------
Income (Loss) Before Income Taxes -20,831 0 -20,831
--------------- --------------- ---------------
Income Taxes - Federal 603 603
Income Taxes - State -150 -150
Provision for Deferred Income Taxes - Federal -1,461 -1,461
Provision for Deferred Income Taxes - State -309 -309
--------------- --------------- ---------------
Net Loss $ -19,514 $ 0 $ -19,514
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERPRISES, INC.
PRO FORMA STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
RETAINED EARNINGS Transaction Filing Transaction
(In Thousands)
Balance at June 30, 1994 $ -21,850 $ -21,850
Add - Net loss -19,514 -19,514
--------------- --------------- ---------------
Balance at June 30, 1995 $ -41,364 $ 0 $ -41,364
=============== =============== ===============
</TABLE>
<PAGE>
Entergy Enterprises, Inc.
Journal Entries
(In Thousands)
Entry 1
Cash $ 30,000
Notes Payable - Associated Company $ 30,000
To record loan to Entergy Enterprises, Inc. for investment
in the telecommunications, energy management services or environmental
technology businesses.
Entry 2
Investment in Subsidiary $ 30,000
Cash $ 30,000
To invest in one or more new subsidiaries which would either directly or
indirectly acquire interests, or options to acquire interests, in any
businesses, including among others, the telecommunications,
energy management services or environmental technology businesses.
FINANCIAL STATEMENTS
_________________________________________
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM U-1
ENTERGY ENTERPRISES, INC. AND CONSOLIDATED
___________________________________________
AS OF JUNE 30, 1995
(Unaudited)
_____________________________________________
<TABLE>
<CAPTION>
ENTERGY ENTERPRISES, INC. AND CONSOLIDATED
PRO FORMA BALANCE SHEET
JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
ASSETS Transaction Filing Transaction
(In Thousands)
Property:
Furniture & equipment $ 8,254 $ 8,254
Intangible assets 934 934
Work in process 14,482 14,482
--------------- --------------- ---------------
Total 23,670 0 23,670
--------------- --------------- ---------------
Investment:
Investments in FPN 4,717 4,717
Note receivable - Entergy SASI, Inc. 2,700 2,700
Investment in subsidiary company - at equity - $ 30,000 30,000
Other Investments 31,867 31,867
Special deposits 30 30
--------------- --------------- ---------------
Total 39,314 30,000 69,314
--------------- --------------- ---------------
Current Assets:
Cash and cash equivalents:
Cash 56,836 -30,000 26,836
Temporary cash investments 999 999
Total cash and cash equivalents 57,835 -30,000 27,835
Accounts receivable 3,305 3,305
Accounts receivable - associated companies 12,326 12,326
Inventory 17,806 17,806
Taxes accrued 3,404 3,404
Other current assets 305 305
--------------- --------------- ---------------
Total 94,981 -30,000 64,981
--------------- --------------- ---------------
Deferred Debits:
FPN License (Net of Amortization) 1,930 1,930
Accum. Deferred Income Tax - Federal & State 13,912 13,912
--------------- --------------- ---------------
Total Deferred Debits 15,842 0 15,842
--------------- --------------- ---------------
TOTAL $ 173,807 $ 0 $ 173,807
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERPRISES, INC. AND CONSOLIDATED
PRO FORMA BALANCE SHEET
JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
CAPITALIZATION AND LIABILITIES Transaction Filing Transaction
(In Thousands)
Capitalization:
Common Stock $ 54,400 $ 54,400
Miscellaneous Paid In Capital 125,000 125,000
Retained Earnings -41,364 -41,364
Retained Earnings - Unreal. Holding Losses -2,926 -2,926
--------------- --------------- ---------------
Total 135,110 0 135,110
--------------- --------------- ---------------
Long-Term Liabilities:
Other Long-term Debt 7,933 7,933
Other 254 254
--------------- --------------- ---------------
Total 8,187 0 8,187
--------------- --------------- ---------------
Current Liabilities:
Accounts Payable 1,641 1,641
Accounts payable - associated companies 1,011 1,011
Other 2,170 2,170
--------------- --------------- ---------------
Total 4,822 0 4,822
--------------- --------------- ---------------
Deferred Credits
Deferred Revenue 22,084 22,084
Other Deferred Credits 3,607 3,607
--------------- --------------- ---------------
Total 25,691 0 25,691
--------------- --------------- ---------------
TOTAL $ 173,810 $ 0 $ 173,810
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERPRISES, INC. AND CONSOLIDATED
PRO FORMA STATEMENT OF INCOME
TWELVE MONTHS ENDED JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
Transaction Filing Transaction
(In Thousands)
Revenues:
Services rendered - non-associated companies $ 210 $ 210
Services rendered - associated companies 18,116 18,116
Net sales 13,687 13,687
Miscellaneous income 1,450 1,450
--------------- --------------- ---------------
Total 33,463 0 33,463
--------------- --------------- ---------------
Expenses:
Installation/Maintenance Costs 9,134
Salaries, wages and benefits 23,200 23,200
Outside services 9,386 9,386
Administrative and General 9,791 9,791
Other 3,551 3,551
--------------- --------------- ---------------
Total 55,062 0 45,928
--------------- --------------- ---------------
Depreciation and Amortization 3,484 3,484
Amortization of organizational cost 649 649
Miscellaneous Expenses 46 46
--------------- --------------- ---------------
Total expenses 59,241 0 59,241
--------------- --------------- ---------------
Interest Expense 4,733 4,733
--------------- --------------- ---------------
Loss Before Income Taxes -30,511 0 -30,511
--------------- --------------- ---------------
Income Taxes - Federal -9,077 -9,077
Income Taxes - State -150 -150
Provision for Deferred Income Taxes - Federal -1,461 -1,461
Provision for Deferred Income Taxes - State -309 -309
--------------- --------------- ---------------
Net Loss $ -19,514 $ 0 $ -19,514
=============== =============== ===============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERPRISES, INC. AND CONSOLIDATED
PRO FORMA STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED JUNE 30, 1995
(Unaudited)
<S> <C> <C> <C>
Adjustments to Reflect
Transactions Proposed
Before In Present After
RETAINED EARNINGS Transaction Filing Transaction
(In Thousands)
Balance at June 30, 1994 $ -21,850 $ -21,850
Add - Net loss -19,514 -19,514
--------------- --------------- ---------------
Balance at June 30, 1995 $ -41,364 0 $ -41,364
=============== =============== ===============
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
Entergy Corporation
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1995
<PERIOD-END> JUN-30-1995 JUN-30-1995
<BOOK-VALUE> PER-BOOK PRO-FORMA
<TOTAL-NET-UTILITY-PLANT> 0 0
<OTHER-PROPERTY-AND-INVEST> 6,305,456 6,335,456
<TOTAL-CURRENT-ASSETS> 94,984 64,984
<TOTAL-DEFERRED-CHARGES> 59,587 59,587
<OTHER-ASSETS> 0 0
<TOTAL-ASSETS> 6,460,037 6,460,037
<COMMON> 2,300 2,300
<CAPITAL-SURPLUS-PAID-IN> 4,199,643 4,199,643
<RETAINED-EARNINGS> 2,236,785 2,236,785
<TOTAL-COMMON-STOCKHOLDERS-EQ> 6,438,728 6,438,728
0 0
0 0
<LONG-TERM-DEBT-NET> 0 0
<SHORT-TERM-NOTES> 0 0
<LONG-TERM-NOTES-PAYABLE> 0 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0 0
<LONG-TERM-DEBT-CURRENT-PORT> 0 0
0 0
<CAPITAL-LEASE-OBLIGATIONS> 0 0
<LEASES-CURRENT> 0 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 21,309 21,309
<TOT-CAPITALIZATION-AND-LIAB> 6,460,037 6,460,037
<GROSS-OPERATING-REVENUE> 397,678 397,678
<INCOME-TAX-EXPENSE> (9,879) (9,879)
<OTHER-OPERATING-EXPENSES> 61,207 61,207
<TOTAL-OPERATING-EXPENSES> 51,328 51,328
<OPERATING-INCOME-LOSS> 346,350 346,350
<OTHER-INCOME-NET> 0 0
<INCOME-BEFORE-INTEREST-EXPEN> 346,350 346,350
<TOTAL-INTEREST-EXPENSE> 553 553
<NET-INCOME> 345,797 345,797
0 0
<EARNINGS-AVAILABLE-FOR-COMM> 345,797 345,797
<COMMON-STOCK-DIVIDENDS> 409,477 409,477
<TOTAL-INTEREST-ON-BONDS> 0 0
<CASH-FLOW-OPERATIONS> 0 0
<EPS-PRIMARY> 0 0
<EPS-DILUTED> 0 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
Entergy Corporation and Subsidiaries
</LEGEND>
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1995
<PERIOD-END> JUN-30-1995 JUN-30-1995
<BOOK-VALUE> PER-BOOK PRO-FORMA
<TOTAL-NET-UTILITY-PLANT> 15,836,749 15,836,749
<OTHER-PROPERTY-AND-INVEST> 538,250 568,250
<TOTAL-CURRENT-ASSETS> 2,275,324 2,245,324
<TOTAL-DEFERRED-CHARGES> 3,860,344 3,860,344
<OTHER-ASSETS> 0 0
<TOTAL-ASSETS> 22,510,667 22,510,667
<COMMON> 2,300 2,300
<CAPITAL-SURPLUS-PAID-IN> 4,199,643 4,199,643
<RETAINED-EARNINGS> 2,236,785 2,236,785
<TOTAL-COMMON-STOCKHOLDERS-EQ> 6,371,458 6,371,458
273,698 273,698
550,955 550,955
<LONG-TERM-DEBT-NET> 7,023,655 7,023,655
<SHORT-TERM-NOTES> 68,333 68,333
<LONG-TERM-NOTES-PAYABLE> 0 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0 0
<LONG-TERM-DEBT-CURRENT-PORT> 403,060 403,060
0 0
<CAPITAL-LEASE-OBLIGATIONS> 330,548 330,548
<LEASES-CURRENT> 152,730 152,730
<OTHER-ITEMS-CAPITAL-AND-LIAB> 7,268,960 7,268,960
<TOT-CAPITALIZATION-AND-LIAB> 22,510,667 22,510,667
<GROSS-OPERATING-REVENUE> 5,889,090 5,889,090
<INCOME-TAX-EXPENSE> 155,763 155,763
<OTHER-OPERATING-EXPENSES> 4,674,658 4,674,658
<TOTAL-OPERATING-EXPENSES> 4,830,421 4,830,421
<OPERATING-INCOME-LOSS> 1,058,669 1,058,669
<OTHER-INCOME-NET> 39,909 39,909
<INCOME-BEFORE-INTEREST-EXPEN> 1,098,578 1,098,578
<TOTAL-INTEREST-EXPENSE> 752,781 752,781
<NET-INCOME> 266,547 266,547
79,250 79,250
<EARNINGS-AVAILABLE-FOR-COMM> 345,797 345,797
<COMMON-STOCK-DIVIDENDS> 409,477 409,477
<TOTAL-INTEREST-ON-BONDS> 0 0
<CASH-FLOW-OPERATIONS> 0 0
<EPS-PRIMARY> 0 0
<EPS-DILUTED> 0 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
Entergy Enterprises, Inc.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1995
<PERIOD-END> JUN-30-1995 JUN-30-1995
<BOOK-VALUE> PER-BOOK PRO-FORMA
<TOTAL-NET-UTILITY-PLANT> 0 0
<OTHER-PROPERTY-AND-INVEST> 117,479 147,479
<TOTAL-CURRENT-ASSETS> 17,502 17,502
<TOTAL-DEFERRED-CHARGES> 6,909 6,909
<OTHER-ASSETS> 0 0
<TOTAL-ASSETS> 141,890 171,890
<COMMON> 54,400 54,400
<CAPITAL-SURPLUS-PAID-IN> 125,000 125,000
<RETAINED-EARNINGS> (44,290) (44,290)
<TOTAL-COMMON-STOCKHOLDERS-EQ> 135,110 135,110
0 0
0 0
<LONG-TERM-DEBT-NET> 0 0
<SHORT-TERM-NOTES> 0 30,000
<LONG-TERM-NOTES-PAYABLE> 0 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0 0
<LONG-TERM-DEBT-CURRENT-PORT> 0 0
0 0
<CAPITAL-LEASE-OBLIGATIONS> 0 0
<LEASES-CURRENT> 0 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 3,173 3,173
<TOT-CAPITALIZATION-AND-LIAB> 141,890 171,890
<GROSS-OPERATING-REVENUE> 1,043 1,043
<INCOME-TAX-EXPENSE> (1,317) (1,317)
<OTHER-OPERATING-EXPENSES> 21,874 21,874
<TOTAL-OPERATING-EXPENSES> 20,557 20,557
<OPERATING-INCOME-LOSS> (19,514) (19,514)
<OTHER-INCOME-NET> 0 0
<INCOME-BEFORE-INTEREST-EXPEN> 0 0
<TOTAL-INTEREST-EXPENSE> 0 0
<NET-INCOME> (19,514) (19,514)
0 0
<EARNINGS-AVAILABLE-FOR-COMM> 0 0
<COMMON-STOCK-DIVIDENDS> 0 0
<TOTAL-INTEREST-ON-BONDS> 0 0
<CASH-FLOW-OPERATIONS> 0 0
<EPS-PRIMARY> 0 0
<EPS-DILUTED> 0 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
Entergy Enterprises, Inc. and Consolidated
</LEGEND>
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1995
<PERIOD-END> JUN-30-1995 JUN-30-1995
<BOOK-VALUE> PER-BOOK PRO-FORMA
<TOTAL-NET-UTILITY-PLANT> 0 0
<OTHER-PROPERTY-AND-INVEST> 62,984 92,984
<TOTAL-CURRENT-ASSETS> 94,981 64,981
<TOTAL-DEFERRED-CHARGES> 15,842 15,842
<OTHER-ASSETS> 0 0
<TOTAL-ASSETS> 173,807 173,807
<COMMON> 54,400 54,400
<CAPITAL-SURPLUS-PAID-IN> 125,000 125,000
<RETAINED-EARNINGS> (44,290) (44,290)
<TOTAL-COMMON-STOCKHOLDERS-EQ> 135,110 135,110
0 0
0 0
<LONG-TERM-DEBT-NET> 7,933 7,933
<SHORT-TERM-NOTES> 0 0
<LONG-TERM-NOTES-PAYABLE> 0 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0 0
<LONG-TERM-DEBT-CURRENT-PORT> 0 0
0 0
<CAPITAL-LEASE-OBLIGATIONS> 0 0
<LEASES-CURRENT> 0 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 30,767 30,767
<TOT-CAPITALIZATION-AND-LIAB> 173,810 173,810
<GROSS-OPERATING-REVENUE> 33,463 33,463
<INCOME-TAX-EXPENSE> (10,997) (10,997)
<OTHER-OPERATING-EXPENSES> 59,241 59,241
<TOTAL-OPERATING-EXPENSES> 48,244 48,244
<OPERATING-INCOME-LOSS> (14,781) (14,781)
<OTHER-INCOME-NET> 0 0
<INCOME-BEFORE-INTEREST-EXPEN> (14,781) (14,781)
<TOTAL-INTEREST-EXPENSE> 4,733 4,733
<NET-INCOME> (19,514) (19,514)
0 0
<EARNINGS-AVAILABLE-FOR-COMM> (19,514) (19,514)
<COMMON-STOCK-DIVIDENDS> 0 0
<TOTAL-INTEREST-ON-BONDS> 0 0
<CASH-FLOW-OPERATIONS> 0 0
<EPS-PRIMARY> 0 0
<EPS-DILUTED> 0 0
</TABLE>