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Previous: MERCANTILE BANCORPORATION INC, 8-K/A, 1997-05-22 |
Next: MILLS MUSIC TRUST, 10-K/A, 1997-05-22 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM U5S (Amendment No. 1)
ANNUAL REPORT
For the Year Ended December 31, 1996
Filed Pursuant to the
Public Utility Holding Company Act of 1935
by
ENTERGY CORPORATION
639 Loyola Avenue
New Orleans, Louisiana 70113
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATING STATEMENT OF INCOME (LOSS)
YEAR ENDED DECEMBER 31, 1996
(In Thousands)
INTERCOMPANY
ELIMINATIONS
AND ENTERGY ENTERGY ENTERGY
CONSOLIDATED ADJUSTMENTS ARKANSAS GULF STATES LOUISIANA
<S> <C> <C> <C> <C> <C>
Operating Revenues:
Electric $ 6,450,940 $ 1,032,652 $ 1,743,433 $ 1,925,988 $ 1,828,867
Natural gas 134,456 617 .... 34,050 ....
Steam products 59,143 1,249,900 .... 59,143 ....
Nonregulated and foreign energy-related businesses 518,987 (349,357) .... .... ....
Equity in earnings of subsidiaries .... 459,350 .... .... ....
------------------------------------------------------------------------
Total 7,163,526 2,393,162 1,743,433 2,019,181 1,828,867
------------------------------------------------------------------------
Operating Expenses:
Operation:
Fuel for electric generation
and fuel-related expenses 1,635,885 617 257,008 520,065 419,331
Purchased power 704,744 890,173 432,825 295,960 403,322
Nuclear refueling outages expenses 55,148 577,168 29,365 8,660 15,885
Other operation and maintenance 1,577,383 548,058 358,789 402,719 297,667
Depreciation and decommissioning 790,948 (28,054) 167,878 206,070 167,779
Taxes other than income taxes 353,270 (8,512) 37,688 102,170 72,329
Rate deferrals (33,874) 18,241 .... .... (10,767)
Amortization of rate deferrals 401,301 (18,241) 149,730 71,639 26,875
------------------------------------------------------------------------
Total 5,484,805 1,979,450 1,433,283 1,607,283 1,392,421
------------------------------------------------------------------------
Operating Income 1,678,721 413,712 310,150 411,898 436,446
------------------------------------------------------------------------
Other Income:
Allowance for equity funds used during
construction 9,951 1 3,886 2,618 862
Write-off of River Bend rate deferrals (194,498) .... .... (194,498) ....
Miscellaneous - net 137,583 (27,566) 32,591 69,841 2,933
------------------------------------------------------------------------
Total (46,964) (27,565) 36,477 (122,039) 3,795
------------------------------------------------------------------------
Interest and Other Charges:
Interest on long-term debt 674,532 (77,545) 98,531 181,071 122,604
Other interest - net 49,053 10,120 6,257 12,819 6,938
Distributions on preferred securities of subsidiary 4,797 .... 1,927 .... 2,870
Allowance for borrowed funds used during
construction (8,347) .... (2,330) (2,235) (1,493)
Preferred dividend requirements of subsidiaries 70,536 (70,536) .... .... ....
------------------------------------------------------------------------
Total 790,571 (137,961) 104,385 191,655 130,919
------------------------------------------------------------------------
Income Before Income Taxes 841,186 524,108 242,242 98,204 309,322
Income Taxes 421,159 10,295 84,444 102,091 118,560
------------------------------------------------------------------------
Income before the Cumulative Effect of
Accounting Changes 420,027 513,813 157,798 (3,887) 190,762
Cumulative Effect of Accounting Changes
(net of tax) .... .... .... .... ....
------------------------------------------------------------------------
Net Income (Loss) $ 420,027 $ 513,813 $ 157,798 $ (3,887) $ 190,762
========================================================================
Earnings per average common share before
cumulative effect of a change in accounting principle $1.83
Earnings per average common share $1.83
Dividends declared per common share $1.80
Average number of common shares outstanding 229,084,241
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERGY SYSTEM ENTERGY ENTERGY ENTERGY ENTERGY SYSTEM ENTERGY
MISSISSIPPI NEW ORLEANS ENERGY CORPORATION OPERATIONS POWER SERVICES FUELS ENTERPRISES
(unaudited)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
$ 958,430 $ 403,254 $ 623,620 $ .... $ .... $ .... $ .... $ .... $ ....
.... 101,023 .... .... .... .... .... .... ....
.... .... .... .... 598,546 .... 440,283 211,071 ....
.... .... .... .... .... 106,108 .... .... 63,522
.... .... .... 459,350 .... .... .... .... ....
- --------------------------------------------------------------------------------------------------------------------
958,430 504,277 623,620 459,350 598,546 106,108 440,283 211,071 63,522
- --------------------------------------------------------------------------------------------------------------------
207,116 129,059 43,761 .... .... 60,162 .... .... ....
272,812 176,450 .... .... .... 13,548 .... .... ....
.... .... 1,239 .... 577,167 .... .... .... ....
122,628 71,421 105,453 34,402 .... 15,961 403,381 211,780 101,240
40,313 20,007 128,474 .... 1,161 5,580 20,573 .... 5,059
43,389 27,388 27,654 828 17,693 1,085 13,602 932 ....
.... (4,866) .... .... .... .... .... .... ....
107,576 27,240 .... .... .... .... .... .... ....
- --------------------------------------------------------------------------------------------------------------------
793,834 446,699 306,581 35,230 596,021 96,336 437,556 212,712 106,299
- --------------------------------------------------------------------------------------------------------------------
164,596 57,578 317,039 424,120 2,525 9,772 2,727 (1,641) (42,777)
- --------------------------------------------------------------------------------------------------------------------
1,143 321 1,122 .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
1,662 1,146 5,234 4,840 .... 1,091 388 7,253 (16,962)
- --------------------------------------------------------------------------------------------------------------------
2,805 1,467 6,356 4,840 .... 1,091 388 7,253 (16,962)
- --------------------------------------------------------------------------------------------------------------------
44,137 15,268 135,376 .... .... .... .... .... ....
3,870 1,036 8,344 10,491 919 119 3,233 1,237 3,910
.... .... .... .... .... .... .... .... ....
(923) (252) (1,114) .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
- --------------------------------------------------------------------------------------------------------------------
47,084 16,052 142,606 10,491 919 119 3,233 1,237 3,910
- --------------------------------------------------------------------------------------------------------------------
120,317 42,993 180,789 418,469 1,606 10,744 (118) 4,375 (63,649)
41,106 16,217 82,121 (1,558) 1,606 4,694 (118) 4,375 (22,084)
- --------------------------------------------------------------------------------------------------------------------
79,211 26,776 98,668 420,027 .... 6,050 .... .... (41,565)
.... .... .... .... .... .... .... .... ....
- --------------------------------------------------------------------------------------------------------------------
$ 79,211 $ 26,776 $ 98,668 $ 420,027 $ .... $ 6,050 $ .... $ .... $ (41,565)
====================================================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATING STATEMENT OF CASH FLOWS
YEAR ENDED DECEMBER 31, 1996
(In Thousands)
INTERCOMPANY
ELIMINATIONS
AND ENTERGY ENTERGY ENTERGY
OPERATING ACTIVITIES: CONSOLIDATED ADJUSTMENTS ARKANSAS GULF STATES LOUISIANA
<S> <C> <C> <C> <C> <C>
Net Income (Loss) $ 420,027 $ 513,813 $ 157,798 $ (3,887) $ 190,762
Noncash items included in net income
Write-off of River Bend rate deferrals 194,498 .... .... 194,498 ....
Change in rate deferrals/ excess capacity 423,036 (24,359) 139,701 72,597 19,860
Depreciation, amortization and decommissioning 790,948 (24,628) 167,878 206,070 167,779
Deferred income taxes and investment tax credits 76,920 (6,855) (46,026) 101,380 18,809
Allowance for equity funds used during construction (9,951) (1) (3,886) (2,618) (862)
Equity in earnings of subsidiaries .... (459,350) .... .... ....
Accrued pension liability .... 1,026 .... .... ....
Provisions for estimated losses 31,063 21,336 4,125 (1,885) 3,240
Changes in working capital: ....
Receivables (30,322) (104,914) (4,292) 3,691 (4,889)
Fuel inventory (17,220) (3,662) 137 (12,868) ....
Accounts payable 4,011 76,400 (1,112) (26,706) 22,838
Taxes accrued (27,488) 22,782 14,035 (1,266) (11,222)
Interest accrued 7,176 (15,189) (2,615) (7,186) 5,047
Reserve for rate refund .... .... .... ....
Other working capital accounts (121,692) (42,047) (7,529) (139,124) (26,831)
Common stock dividends received .... 554,200 .... .... ....
Change in other regulatory assets (85,051) 32,790 .... (17,303) (6,385)
Change in decommissioning trust (52,204) .... (18,961) (5,922) (8,790)
Other (146,238) 75,168 (22,675) (37,116) (17,685)
--------------------------------------------------------------
Net cash flow provided (used) by operating activities 1,457,513 616,510 376,578 322,355 351,671
--------------------------------------------------------------
INVESTING ACTIVITIES:
Construction expenditures (571,890) 3,408 (145,529) (154,993) (103,187)
Allowance for equity funds used during construction 9,951 1 3,886 2,618 862
Nuclear fuel sales (expenditures) - net (123,929) 28,017 (26,084) (25,124) ....
Proceeds from sale/leaseback of nuclear fuel 109,980 (14,035) 25,451 26,523 ....
Acquisition of CitiPower (1,156,112) 1,156,112 .... .... ....
Investment in nonregulated/nonutility properties (76,091) 73,818 .... .... ....
Proceeds from sale of Hub River stock 26,955 (26,955) .... .... ....
Proceeds from sale of Independence 2 39,398 (39,398) .... .... ....
Proceeds from sale of non-utility property .... .... .... .... ....
Other (32,619) (236,275) .... .... ....
--------------------------------------------------------------
Net cash flow used by investing activities (1,774,357) 944,693 (142,276) (150,976) (102,325)
--------------------------------------------------------------
FINANCING ACTIVITIES:
Proceeds from issuance of:
General and refunding mortgage bonds 39,608 .... .... .... ....
First mortgage bonds 431,906 .... 84,256 .... 113,994
Bank notes and other long-term debt 1,066,858 (932,145) .... 780 ....
Common stock 118,087 .... .... .... ....
Preferred securities of subsidiaries' trusts 125,963 .... 58,168 .... 67,795
Retirement of:
First mortgage bonds (821,575) .... (112,807) (195,417) (130,000)
General and refunding mortgage bonds (56,000) .... .... .... ....
Other long-term debt (145,110) (31,418) (1,700) (50,425) (270)
Redemption of preferred stock (157,503) .... (69,624) (10,179) (67,824)
Dividends paid:
Common stock (405,346) (548,400) (142,800) .... (179,200)
Preferred stock .... (71,109) (17,736) (28,336) (19,072)
Change in advances from parent company .... 28,000 .... .... ....
Changes in short-term borrowings (24,981) 109,166 .... .... (45,393)
Other .... (60,877) .... .... ....
--------------------------------------------------------------
Net cash flow provided (used) by financing activities 171,907 (1,506,783) (202,243) (283,577) (259,970)
--------------------------------------------------------------
Effect of exchange rates on cash and cash equivalents 50 (50) .... .... ....
--------------------------------------------------------------
Net increase (decrease) in cash and cash equivalents (144,887) 54,370 32,059 (112,198) (10,624)
Cash and cash equivalents at beginning of year 533,590 63,510 11,798 234,604 34,370
--------------------------------------------------------------
Cash and cash equivalents at end of year $ 388,703 $ 117,880 $ 43,857 $ 122,406 $ 23,746
==============================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERGY SYSTEM ENTERGY ENTERGY ENTERGY ENTERGY SYSTEM ENTERGY
MISSISSIPPI NEW ORLEANS ENERGY CORPORATION OPERATIONS POWER SERVICES FUELS ENTERPRISES
(unaudited)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
$ 79,211 $ 26,776 $ 98,668 $ 420,027 $ .... $ 6,050 $ .... $ .... $ (41,565)
.... .... .... .... .... .... .... .... ....
130,602 35,917 .... .... .... .... .... .... ....
40,313 20,007 128,474 1,628 1,161 5,580 20,573 1,798 5,059
(32,887) (12,274) 48,975 8,499 20 (9,486) (1,051) (626) (5,268)
(1,143) (321) (1,122) .... .... .... .... .... ....
.... .... .... (459,350) .... .... .... .... ....
.... .... .... .... .... .... 1,026 .... ....
.... .... 46,919 .... .... .... .... .... ....
(4,123) 832 3,436 3,232 (7,831) 4,102 (47,387) (68,561) (13,446)
20 .... .... .... .... 1,370 .... (9,541) ....
88 (5,638) 560 9,919 (1,348) (5,455) 26,482 53,398 7,385
(2,157) (4,350) (4,825) .... .... (1,890) .... 6,969 ....
(925) 214 (2,548) .... .... .... .... .... ....
4,074 (5,216) (13,430) (1,170) (1,381) (350) 22,125 483 4,610
.... .... .... 554,200 .... .... .... .... ....
(28,573) .... .... .... .... .... .... .... ....
.... .... (18,531) .... .... .... .... .... ....
(2,534) (11,941) 281 (3,524) (758) 958 5,445 1,924 16,555
- ---------------------------------------------------------------------------------------------------------------
181,966 44,006 286,857 533,461 (10,137) 879 27,213 (14,156) (26,670)
- ---------------------------------------------------------------------------------------------------------------
(85,018) (27,956) (29,469) .... (232) (356) (21,742) .... ....
1,143 321 1,122 .... .... .... .... .... ....
.... .... (44,704) .... .... .... .... .... ....
.... .... 43,971 .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... (2,273)
.... .... .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
.... .... .... (266,681) .... 37,800 .... .... (40,013)
- ---------------------------------------------------------------------------------------------------------------
(83,875) (27,635) (29,080) (266,681) (232) 37,444 (21,742) .... (42,286)
- ---------------------------------------------------------------------------------------------------------------
.... 39,608 .... .... .... .... .... .... ....
.... .... 233,656 .... .... .... .... .... ....
.... .... 133,933 .... .... .... .... ....
.... .... .... 118,087 .... .... .... .... ....
.... ....
(35,000) (23,250) (325,101) .... .... .... .... .... ....
(26,000) (30,000) .... .... .... .... .... .... ....
(15) .... (92,700) .... .... .... .... (31,418) ....
(9,876) .... .... .... .... .... .... .... ....
(79,900) (34,000) (112,500) (405,346) .... .... .... .... ....
(5,000) (965) .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... 28,000
50,253 .... (2,990) 20,000 9,128 .... 6,507 46,680 ....
.... .... .... .... .... (75,000) .... .... 14,123
- ---------------------------------------------------------------------------------------------------------------
(105,538) (48,607) (165,702) (267,259) 9,128 (75,000) 6,507 15,262 42,123
- ---------------------------------------------------------------------------------------------------------------
.... .... .... .... .... .... .... .... ....
- ---------------------------------------------------------------------------------------------------------------
(7,447) (32,236) 92,075 (479) (1,241) (36,677) 11,978 1,106 (26,833)
16,945 49,746 240 129,144 1,241 59,482 10,396 1,020 48,114
- ---------------------------------------------------------------------------------------------------------------
$ 9,498 $ 17,510 $ 92,315 $ 128,665 $ .... $ 22,805 $ 22,374 $ 2,126 $ 21,281
===============================================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1996
(In Thousands)
INTERCOMPANY
ELIMINATIONS
AND ENTERGY ENTERGY ENTERGY
ASSETS CONSOLIDATED ADJUSTMENTS ARKANSAS GULF STATES LOUISIANA
<S> <C> <C> <C> <C> <C>
Current Assets:
Cash and cash equivalents:
Cash $ 34,807 $ 13,510 $ 5,117 $ 6,573 $ 1,804
Temporary cash investments:
Associated companies .... 169,717 17,462 45,234 ....
Other 346,782 (65,347) 21,278 70,599 21,942
Special deposits 7,114 .... .... .... ....
----------------------------------------------------------------
Total cash and cash equivalents 388,703 117,880 43,857 122,406 23,746
Notes receivable
Accounts receivable:
Customer 333,876 (20,965) 73,470 89,880 75,252
Allowance for doubtful accounts (9,189) 1,367 (2,326) (1,997) (1,429)
Associated companies .... 320,112 45,303 2,777 11,606
Other 99,066 (37,979) 5,862 30,758 7,053
Accrued unbilled revenues 351,429 (40,988) 104,764 75,351 63,879
Bulk power receivable:
Associated companies .... 44,003 .... .... ....
Other .... 12,694 .... .... ....
Deferred fuel costs 122,184 2,956 .... 99,503 18,347
Accumulated deferred income taxes .... 56,714 .... 56,714 ....
Recoverable income taxes .... .... .... .... ....
Fuel inventory - at average cost and LIFO 139,603 5,981 57,319 45,009 ....
Materials and supplies - at average cost 339,622 (5,973) 72,976 86,157 78,449
Rate deferrals 444,543 (1) 153,141 105,456 5,749
Deferred excess capacity .... 9,005 9,005 .... ....
Prepayments and other 152,696 3,515 32,025 16,321 41,650
----------------------------------------------------------------
Total 2,362,533 468,321 595,396 728,335 324,302
----------------------------------------------------------------
Other Property and Investments:
Common stock of subsidiaries consolidated .... 6,531,729 .... .... ....
Decommissioning trust funds 357,962 (1) 203,274 41,983 50,481
Investment in subsidiary companies - at equity 210 34,021 11,211 .... 14,230
Other 571,901 (394,336) 5,058 38,358 22,525
----------------------------------------------------------------
Total 930,073 6,171,413 219,543 80,341 87,236
----------------------------------------------------------------
Utility Plant:
Electric 22,811,164 (619,838) 4,578,728 7,112,021 4,997,456
Plant acquisition adjustment 455,425 (454,825) .... .... ....
Electric plant under leases 679,991 (232,582) .... .... ....
Property under capital leases - electric 147,277 230,860 57,869 72,800 232,582
Natural gas 168,143 .... .... 45,443 ....
Steam products 81,743 .... .... 81,743 ....
Construction work in progress 401,676 (21,440) 83,524 112,137 56,180
Nuclear fuel under capital leases 250,651 .... 79,103 49,833 38,157
Nuclear fuel 112,625 .... 27,500 .... 34,191
----------------------------------------------------------------
Total 25,108,695 (1,097,825) 4,826,724 7,473,977 5,358,566
Less - Accumulated depreciation and amortization 8,885,572 (17,215) 1,976,204 2,846,083 1,881,847
----------------------------------------------------------------
Utility plant - net 16,223,123 (1,080,610) 2,850,520 4,627,894 3,476,719
----------------------------------------------------------------
Deferred Debits and Other Assets:
Rate deferrals 399,493 .... 75,249 120,158 ....
Accumulated deferred income taxes .... 21,195 .... .... ....
Deferred excess capacity .... .... .... .... ....
SFAS 109 regulatory asset - net 1,196,041 1 244,767 372,817 295,836
Long-term receivables 216,082 .... .... 216,082 ....
Unamortized loss on reaquired debt 217,664 (1) 56,664 54,761 37,552
CitiPower license (net of $15.4 million of amortization) 606,214 (606,214) .... .... ....
Other 815,071 (22,178) 111,678 231,060 57,633
----------------------------------------------------------------
Total 3,450,565 (607,197) 488,358 994,878 391,021
----------------------------------------------------------------
Total $ 22,966,294 $ 4,951,927 $4,153,817 $ 6,431,448 $ 4,279,278
================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERGY SYSTEM ENTERGY ENTERGY ENTERGY ENTERGY SYSTEM ENTERGY
MISSISSIPPI NEW ORLEANS ENERGY CORPORATION OPERATIONS POWER SERVICES FUELS ENTERPRISES
(unaudited)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
2,384 $ 1,015 $ 26 $ 23 $ .... $ 2,256 $ 5,712 $ 2,126 $ 21,281
.... 7,435 41,600 57,986 .... .... .... .... ....
.... 9,060 50,689 70,656 .... 20,549 16,662 .... ....
7,114 .... .... .... .... .... .... .... ....
- ----------------------------------------------------------------------------------------------------------
9,498 17,510 92,315 128,665 .... 22,805 22,374 2,126 21,281
46,183 28,126 .... .... .... .... .... .... ....
(1,374) (696) .... .... .... .... .... .... ....
4,382 714 71,337 5,940 35,284 2,987 44,054 69,420 26,308
2,014 1,764 2,522 .... .... 6,208 125 1,850 2,931
49,383 17,064 .... .... .... .... .... .... ....
.... .... .... .... .... .... 44,003 .... ....
.... .... .... .... .... .... 12,694 .... ....
.... 7,290 .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
6,661 .... .... .... .... 2,424 .... 34,171 ....
17,567 9,904 66,302 .... .... 2,294 .... .... ....
142,504 37,692 .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
7,434 7,157 28,934 20,767 643 .... 1,005 .... 275
- ----------------------------------------------------------------------------------------------------------
284,252 126,525 261,410 155,372 35,927 36,718 124,255 107,567 50,795
- ----------------------------------------------------------------------------------------------------------
.... .... .... 6,531,729 .... .... .... .... ....
.... .... 62,223 .... .... .... .... .... ....
5,531 3,259 .... .... .... .... .... .... ....
7,923 .... .... .... .... .... .... .... 103,701
- ----------------------------------------------------------------------------------------------------------
13,454 3,259 62,223 6,531,729 .... .... .... .... 103,701
- ----------------------------------------------------------------------------------------------------------
1,633,484 503,061 2,994,445 .... 11,254 182,153 154,300 24,424 ....
.... .... .... .... .... 600 .... .... ....
.... .... 447,409 .... .... .... .... .... ....
.... .... .... .... .... .... .... 14,886 ....
.... 122,700 .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
47,373 18,247 41,362 .... 576 4,038 16,799 .... ....
.... .... 83,558 .... .... .... .... .... ....
.... .... .... .... .... .... .... 50,934 ....
- ----------------------------------------------------------------------------------------------------------
1,680,857 644,008 3,566,774 .... 11,830 186,791 171,099 90,244 ....
635,754 347,790 974,472 .... 7,025 86,330 89,253 23,599 ....
- ----------------------------------------------------------------------------------------------------------
1,045,103 296,218 2,592,302 .... 4,805 100,461 81,846 66,645 ....
- ----------------------------------------------------------------------------------------------------------
104,588 99,498 .... .... .... .... .... .... ....
.... .... .... .... 857 .... 2,164 .... 18,174
.... .... .... .... .... .... .... .... ....
11,813 6,051 264,758 .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
9,254 1,647 57,785 .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
53,002 16,798 222,815 74,891 1,870 358 10,314 110 12,364
- ----------------------------------------------------------------------------------------------------------
178,657 123,994 545,358 74,891 2,727 358 12,478 110 30,538
- ----------------------------------------------------------------------------------------------------------
1,521,466 $ 549,996 $3,461,293 $ 6,761,992 $ 43,459 $ 137,537 $ 218,579 $ 174,322 $ 185,034
==========================================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31,1996
(In Thousands)
INTERCOMPANY
ELIMINATIONS
AND ENTERGY ENTERGY ENTERGY
LIABILITIES AND SHAREHOLDERS' EQUITY CONSOLIDATED ADJUSTMENTS ARKANSAS GULF STATES LOUISIANA
<S> <C> <C> <C> <C> <C>
Current Liabilities:
Currently maturing long-term debt $ 345,620 $ .... $ 32,465 $ 160,865 $ 34,275
Notes payable:
Associated companies .... 169,717 .... .... 31,066
Other 20,686 586 667 .... ....
Accounts payable:
Associated companies .... 321,222 91,205 55,630 73,389
Other 554,558 (99,315) 97,589 85,541 89,550
Bulk power payable:
Associated companies .... 11,597 .... .... ....
Other .... 62,691 .... .... ....
Customer deposits 155,534 (3,860) 21,800 25,572 59,070
Taxes accrued 180,340 21,333 54,194 36,147 7,390
Accumulated deferred income taxes 78,010 56,714 70,506 .... ....
Interest accrued 203,425 (16,283) 27,625 49,651 49,249
Dividends declared 8,950 1 2,832 1,204 3,489
Deferred fuel cost .... 6,955 6,955 .... ....
Co-owner advances .... 33,873 33,873 .... ....
Obligations under capital leases 151,287 (2) 53,012 39,110 28,000
Other 184,157 (52,160) 15,135 29,336 4,940
--------------------------------------------------------------
Total 1,882,567 513,069 507,858 483,056 380,418
--------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 3,770,760 24,881 785,994 1,200,935 831,093
Accumulated deferred investment tax credits 607,641 (1) 108,307 219,188 139,899
FERC Settlement - refund obligation .... 52,839 .... .... ....
Deferred revenue .... 47,240 .... .... ....
SFAS 109 regulatory liability - net .... .... .... .... ....
Obligations under capital leases 247,360 (1,830) 83,940 83,524 10,156
Other 1,298,306 (119,128) 113,998 573,440 131,474
--------------------------------------------------------------
Total 5,924,067 4,001 1,092,239 2,077,087 1,112,622
--------------------------------------------------------------
Long-term debt 7,590,804 (1,055,425) 1,255,388 1,915,346 1,373,233
Subsidiaries' preferred stock with sinking fund 216,986 .... 40,027 77,459 92,500
Subsidiary's preference stock 150,000 .... .... 150,000 ....
Company-obligated mandatorily redeemable
preferred securities of subsidiary trust holding
solely junior subordinated deferrable debentures 130,000 .... 60,000 .... 70,000
Notes payable to associated companies .... 34,000 .... .... ....
Shareholders' Equity:
Subsidiaries' preferred stock without sinking fund 430,955 .... 116,350 136,444 100,500
Common stock, $.01par value, authorized
500,000,000 shares; issued and outstanding
230,017,485 shares 2,345 .... .... .... ....
Common stock of subsidiaries .... 2,433,345 470 114,055 1,088,900
Paid in capital 4,320,591 1,955,097 590,169 1,152,689 ....
Capital stock expense and other .... (2,802) .... .... (2,659)
Retained earnings 2,341,703 1,070,642 491,316 325,312 63,764
Cumulative foreign currency translation 21,725 .... .... .... ....
Less - treasury stock (1,496,118 shares in 1996) 45,449 .... .... .... ....
--------------------------------------------------------------
Total common shareholders' equity 7,071,870 5,456,282 1,198,305 1,728,500 1,250,505
--------------------------------------------------------------
Total $22,966,294 $ 4,951,927 $ 4,153,817 $ 6,431,448 $ 4,279,278
==============================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERGY SYSTEM ENTERGY ENTERGY ENTERGY ENTERGY SYSTEM ENTERGY
MISSISSIPPI NEW ORLEANS ENERGY CORPORATION OPERATIONS POWER SERVICES FUELS ENTERPRISES
(unaudited)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
$ 96,015 $ 12,000 $ 10,000 $ .... $ .... $ .... $ .... $ .... $ ....
50,253 .... .... .... 14,908 .... 17,052 56,438 ....
.... .... .... 20,000 .... .... .... .... 605
32,878 18,757 18,245 11,613 8,934 1,309 3,876 4,208 1,178
23,701 14,130 18,836 22 16,532 1,110 41,180 54,416 12,636
.... .... .... .... .... .... 11,597 .... ....
.... .... .... .... .... .... 62,691 .... ....
26,258 18,974 .... .... .... .... .... .... ....
26,482 1,204 67,823 .... .... 2,946 .... 5,487 ....
58,634 5,584 .... .... .... .... .... .... ....
20,909 5,325 34,195 188 .... .... .... .... ....
1,185 241 .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
72 .... 28,000 .... .... .... .... 2,984 107
1,808 20,745 2,306 15,638 610 173 25,487 852 14,967
- -----------------------------------------------------------------------------------------------------------
338,195 96,960 179,405 47,461 40,984 5,538 161,883 124,385 29,493
- -----------------------------------------------------------------------------------------------------------
249,522 72,895 624,020 .... .... 27,627 .... 3,555 ....
25,422 7,984 103,647 .... .... .... 2,895 298 ....
.... .... 52,839 .... .... .... .... .... ....
.... .... .... .... .... 1,089 .... .... 46,151
.... .... .... .... .... .... .... .... ....
367 .... 55,558 .... .... .... .... 11,902 83
19,078 40,379 165,517 73,616 1,475 .... 53,781 162 6,258
- -----------------------------------------------------------------------------------------------------------
294,389 121,258 1,001,581 73,616 1,475 28,716 56,676 15,917 52,492
- -----------------------------------------------------------------------------------------------------------
399,054 168,888 1,418,869 .... .... .... .... .... 4,601
7,000 .... .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
.... .... .... .... .... .... .... 34,000
57,881 19,780 .... .... .... .... .... .... ....
.... .... .... 2,345 .... .... .... .... ....
199,326 33,744 789,350 .... 5 55 20 20 207,400
.... 36,294 .... 4,320,591 995 174,950 .... .... ....
(143) .... .... .... .... .... .... .... ....
225,764 73,072 72,088 2,341,703 .... (71,722) .... .... (108,952)
.... .... .... 21,725 .... .... .... .... ....
.... .... .... 45,449 .... .... .... .... ....
- -----------------------------------------------------------------------------------------------------------
482,828 162,890 861,438 6,640,915 1,000 103,283 20 20 98,448
- -----------------------------------------------------------------------------------------------------------
$ 1,521,466 $ 549,996 $ 3,461,293 $ 6,761,992 $ 43,459 $ 137,537 $ 218,579 $ 174,322 $ 185,034
===========================================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATING STATEMENTS OF RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1996
(IN THOUSANDS)
INTERCOMPANY
ELIMINATIONS
AND ENTERGY ENTERGY ENTERGY
RETAINED EARNINGS CONSOLIDATED ADJUSTMENTS ARKANSAS GULF LOUISIANA
STATES
<S> <C> <C> <C> <C> <C>
Retained Earnings, January 1, 1996 $ 2,335,579 $ 1,175,725 $ 492,386 $ 357,704 $ 72,150
Add:
Net Income (Loss) 420,027 513,813 157,798 (3,887) 190,762
Increase in Investment in subsidiary .... 42 42 .... ....
-----------------------------------------------------------------
Total 2,755,606 1,689,580 650,226 353,817 262,912
-----------------------------------------------------------------
Deduct:
Dividends declared on:
Preferred and preference stock .... 67,626 16,110 28,336 17,412
Common stock 412,250 548,400 142,800 .... 179,200
Capital stock and other expenses 1,653 2,743 .... .... 2,536
Preferred and preference stock redemption .... 169 .... 169 ....
Common stock retirements .... .... .... .... ....
-----------------------------------------------------------------
Total 413,903 618,938 158,910 28,505 199,148
-----------------------------------------------------------------
Retained Earnings, December 31, 1996 $ 2,341,703 $ 1,070,642 $ 491,316 $ 325,312 $ 63,764
=================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENTERGY ENTERGY SYSTEM ENTERGY ENTERGY ENTERGY ENTERGY SYSTEM ENTERGY
MISSISSIPPI NEW ORLEANS ENERGY CORPORATION OPERATIONS POWER SERVICES FUELS ENTERPRISES
(unaudited)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
$ 231,463 $ 81,261 $ 85,920 $ 2,335,579 $ .... $ (77,772) $ .... $ .... $ (67,387)
79,211 26,776 98,668 420,027 .... 6,050 .... .... (41,565)
.... .... .... .... .... .... .... .... ....
- ----------------------------------------------------------------------------------------------------------------
310,674 108,037 184,588 2,755,606 .... (71,722) .... .... (108,952)
- ----------------------------------------------------------------------------------------------------------------
4,803 965 .... .... .... .... .... .... ....
79,900 34,000 112,500 412,250 .... .... .... .... ....
207 .... .... 1,653 .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
.... .... .... .... .... .... .... .... ....
- ----------------------------------------------------------------------------------------------------------------
84,910 34,965 112,500 413,903 .... .... .... .... ....
- ----------------------------------------------------------------------------------------------------------------
$ 225,764 $ 73,072 $ 72,088 $ 2,341,703 $ .... $ (71,722) $ .... $ .... $ (108,952)
================================================================================================================
</TABLE>
<PAGE>
SIGNATURE
The undersigned holding company has duly caused this amendment to
its annual report to be signed on its behalf.
ENTERGY CORPORATION
By: /s/ Louis E. Buck
Louis E. Buck
Vice President, Chief Accounting Officer
and Assistant Secretary
Dated: May 22, 1997
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