|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: SUNSHINE MINING & REFINING CO, DEFA14A, 1996-05-02 |
Next: SEARS GOVERNMENT INVESTMENT TRUST U S TREASURY SERIES 7, 485BPOS, 1996-05-02 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-13-60
ANNUAL REPORT
FOR THE PERIOD
Beginning January 1, 1995 and Ending December 31, 1995
TO THE
U.S. SECURITIES AND EXCHANGE COMMISSION
OF
ENTERGY ENTERPRISES, INC.
_________________________________________________________________
(Exact Name of Reporting Company)
A Subsidiary Service Company
_______________________________
("Mutual " or "Subsidiary")
Date of Incorporation December 30, 1983. If not Incorporated, Date
of Organization ____________________ State or Sovereign Power under
which Incorporated or Organized Louisiana
Location of Principal Offices of Reporting Company 900 S. Shackleford,
Little Rock, Arkansas 72211
Name, title and address of officer to whom correspondence concerning this
report should be addressed:
Mr. Gerald D. McInvale Executive Vice President, Chief Financial Officer
and Treasurer, P.O. Box 61000, New Orleans, La. 70161
Name of Principal Holding Company Whose Subsidiaries are served
by Reporting Company:
Entergy Corporation
<PAGE>
INSTRUCTIONS FOR USE OF FORM U-13-60
1. Time of Filing.
Rule 94 provides that on or before the first day of May in
each calendar year, each mutual service company and each
subsidiary service company as to which the Commission shall
have made a favorable finding pursuant to Rule 88, and
every service company whose application for approval or
declaration pursuant to Rule 88 is pending shall file with
the Commission an annual report on Form U-13-60 and in
accordance with the Instructions for that form.
2. Number of Copies.
Each annual report shall be filed in duplicate. The company
should prepare and retain at least one extra copy for
itself in case correspondence with reference to the report
become necessary.
3. Period Covered by Report.
The first report filed by any company shall cover the
period from the date the Uniform System of Accounts was
required to be made effective as to that company under
Rules 82 and 93 to the end of that calendar year.
Subsequent reports should cover a calendar year.
4. Report Format.
Reports shall be submitted on the forms prepared by the
Commission. If the space provided on any sheet of such form
is inadequate, additional sheets may be inserted of the
same size as a sheet of the form or folded to each size.
5. Money Amounts Displayed.
All money amounts required to be shown in financial
statements may be expressed in whole dollars, in thousands
of dollars or in hundred thousands of dollars, as
appropriate and subject to provisions of Regulation S-X
(SS210.3-01(b)).
6. Deficits Displayed.
Deficits and other like entries shall be indicated by the
use of either brackets or a parenthesis with corresponding
reference in footnotes. (Regulation S-X, Section 210.3-01(c))
7. Major Amendments or Corrections.
Any company desiring to amend or correct a major omission
or error in a report after it has been filed with the
Commission shall submit an amended report including only
those pages, schedules, and entries that are to be amended
or corrected. A cover letter shall be submitted
requesting the Commission to incorporate the amended report
changes and shall be signed by a duly authorized officer of
the company.
8. Definitions.
Definitions contained in Instruction 01-8 to the Uniform
System of Accounts for Mutual Service Companies and
Subsidiary Service Companies, Public Utility Holding
Company Act of 1935, as amended February 2, 1979 shall be
applicable to words or terms used specifically within this
Form U-13-60.
9. Organization Chart.
The service company shall submit with each annual report a
copy of its current organization chart.
10. Methods of Allocation.
The service company shall submit with each annual report a
listing of the currently effective methods of allocation
being used by the service company and on file with the
Securities and Exchange Commission pursuant to the Public
Utility Holding Company Act of 1935.
11. Annual Statement of Compensation for Use of Capital Billed.
The service company shall submit with each annual report a
copy of the annual statement supplied to each associate
company in support of the amount of compensation for use of
capital billed during the calendar year.
<PAGE>
ANNUAL REPORT FOR ENTERGY ENTERPRISES, INC.
For the Year Ended December 31, 1995
Listing Of Schedules and Analysis of Accounts
Schedule or Page
Description of Schedules and Accounts Account Number Number
Comparative Balance Sheet Schedule I 5
Service Company Property Schedule II 7
Accumulated Provision for Depreciation and
Amortization of Service Company Property Schedule III 8
Investments Schedule IV 9
Accounts Receivable from Associate Companies Schedule V 9
Fuel Stock Expenses Undistributed Schedule VI 10
Stores Expense Undistributed Schedule VII 10
Miscellaneous Current and Accrued Assets Schedule VIII 11
Miscellaneous Deferred Debits Schedule IX 11
Research, Development, or Demonstration
Expenditures Schedule X 11
Proprietary Capital Schedule XI 12
Long-Term Debt Schedule XII 13
Current and Accrued Liabilities Schedule XIII 14
Notes to Financial Statements Schedule XIV 14
Comparative Income Statement Schedule XV 15
Analysis of Billing - Associate Companies Account 457 16
Analysis of Billing - Nonassociate Companies Account 458 17
Analysis of Charges for Service - Associate
and Nonassociate Companies Schedule XVI 18
Schedule of Expense of Department or Service
Function Schedule XVII 19-20
Departmental Analysis of Salaries Account 920 21
Outside Services Employed Account 923 21
Employee Pensions and Benefits Account 926 22
General Advertising Expenses Account 930.1 22
Miscellaneous General Expenses Account 930.2 23
Rents Account 931 23
Taxes Other Than Income Taxes Account 408 24
Donations Account 426.1 24
Other Deductions Account 426.5 25
Notes to Statement of Income Schedule XVIII 25
Annual Report of Entergy Systems and
Service, Inc. Schedule XIX 26
LISTING OF INSTRUCTIONAL FILING REQUIREMENTS
Page
Description of Reports or Statements Number
Organization Chart 27
Methods of Allocation 27
Annual Statement of Compensation for Use of Capital Billed 27
Disclaimer of Subsidization 27
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
Schedule I - Comparative Balance Sheet
Give balance sheet of the Company as of December 31 of the current and prior
year.
Account Assets and Other Debits
As of December 31
Current Prior
Service Company Property
<S> <C> <C> <C>
101 Service company property (Schedule II) $3,570,707 $1,810,768
107 Construction work in progress (Schedule II)
------------ -----------
Total Property 3,570,707 1,810,768
------------ -----------
108 Less accumulated provision for depreciation and amortization of service
company property (Schedule III) 1,435,109 632,689
------------ -----------
Net Service Company Property 2,135,598 1,178,079
------------ -----------
Investments
123 Investments in associate companies (Schedule IV) 91,795,937 (2,746,947)
124 Other Investments (Schedule IV) 1,876,038 6,688,705
128 Special Funds (Schedule IV) 30,000 30,000
------------ -----------
Total Investments 93,701,975 3,971,758
------------ -----------
Current and Accrued Assets
131 Cash 361,927 3,877,744
135 Working funds 113,750 52,850
136 Temporary cash investments (Schedule IV) 4,482,334
141 Notes receivable
143 Accounts receivable 24,286 45,245
144 Accumulated provision of uncollectible accounts
146 Accounts receivable from associate companies (Schedule V) 14,506,718 9,577,120
152 Fuel stock expenses undistributed (Schedule VI)
154 Materials and supplies
163 Stores expense undistributed (Schedule VII)
165 Prepayments
174 Miscellaneous current and accrued assets (Schedule VIII) 9,758
------------ -----------
Total Current and Accrued Assets 19,498,773 13,552,959
------------ -----------
Deferred Debits
181 Unamortized debt expense
184 Clearing accounts
186 Miscellaneous deferred debits (Schedule IX) (215,679) 2,243,411
188 Research, development, or demonstration expenditures (Schedule X)
190 Accumulated deferred income taxes 7,741,826 3,440,593
------------ -----------
Total Deferred Debits 7,526,147 5,684,004
------------ -----------
TOTAL ASSETS AND OTHER DEBITS $122,862,493 $24,386,800
============ ===========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
Schedule I - Comparative Balance Sheet
Account Account Liabilities and Proprietary Capital
As of December 31
Current Prior
Proprietary Capital
<S> <C> <C> <C>
201 Common stock issued (Schedule XI) $54,400,000 $54,400,000
211 Miscellaneous paid-in-capital (Schedule XI) 125,000,000
215 Appropriated retained earnings (Schedule XI)
216 Unappropriated retained earnings (Schedule XI) (67,387,677) (32,208,780)
------------ -----------
Total Proprietary Capital 112,012,323 22,191,220
------------ -----------
Long-Term Debt
223 Advances from associate companies (Schedule XII)
224 Other long-term debt (Schedule XII)
225 Unamortized premium on long-term debt
226 Unamortized discount on long-term debt-debit
227 Capital Leases
------------ -----------
Total Long-Term Debt
------------ -----------
Current and Accrued Liabilities
231 Notes payable
232 Accounts payable 2,828,276 1,433,794
233 Notes payable to associate companies (Schedule XIII)
234 Account payable to associate companies (Schedule XIII) 542,369 224,150
236 Taxes accrued 1,086,097 (2,896,487)
237 Interest accrued
238 Dividends declared
241 Tax collections payable 61,246 86,987
242 Miscellaneous current and accrued liabilities (Schedule XIII) 2,149,908 1,313,295
------------ -----------
Total Current and Accrued Liabilities 6,667,896 161,739
------------ -----------
Deferred Credits
253 Other deferred credits (See Note 9) 4,182,274 2,033,841
255 Accumulated deferred investment tax credits
------------ -----------
Total Deferred Credits 4,182,274 2,033,841
------------ -----------
282 Accumulated Deferred Income Taxes
TOTAL LIABILITIES AND PROPRIETARY CAPITAL $122,862,493 $24,386,800
============ ===========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE II - SERVICE COMPANY PROPERTY
Balance at Retirements Other Balance at
Beginning Additions or Changes Close of
Description of Year Sales (1) Year
Service Company Property
Account
<S> <C> <C> <C> <C> <C> <C>
301 Organization $126,136 $126,136
303 Miscellaneous Intangible Plant
304 Land and Land Rights
305 Structures and Improvements
306 Leasehold Improvements 370,910 $580,354 951,264
307 Equipment
308 Office Furniture and 1,313,722 1,179,585 2,493,307
Equipment
309 Automobiles, Other Vehicles
and Related Garage Equipment
310 Aircraft and Airport Equipment
311 Other Service Company
Property (3)
----------- --------- -- -- -----------
SUB-TOTAL 1,810,768 1,759,939 3,570,707
----------- -------- -- -- -----------
107 Construction Work in Progress
----------- ---------- -- -- -----------
TOTAL $ 1,810,768 $1,759,939 $ 3,570,707
=========== ========== == == ===========
</TABLE>
(1) Provide an explanation of those changes considered material:
(2) Subaccounts are required for each class of equipment owned. The service
company shall provide a listing by subaccount of equipment additions
during the year and the balance at the close of the year:
Balance
at Close
Subaccount Description Additions of Year
Office Furniture and Equipment
Furniture $412,474 $1,012,539
Computer Equipment 316,709 899,110
Telephone and Video Conferencing
Equipment 450,402 581,658
---------- ----------
TOTAL $1,179,585 $2,493,307
========== ==========
(3) Description other service company property:
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE III - ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF SERVICE COMPANY PROPERTY
Balance at Additions Other Balance
Beginning Charged to Changes Add at Close
Description of Year Account Retirements (Deduct) (1) of Year
403
Account
<S> <C> <C> <C> <C> <C>
301 Organization $ 50,451 $ 25,227 $ 75,678
303 Miscellaneous Intangible Plant
304 Land and Land Rights
305 Structures and Improvements
306 Leasehold Improvements 180,045 334,200 514,245
307 Equipment
308 Office Furniture and Fixtures 402,193 442,993 845,186
309 Automobiles, Other Vehicles
and Related Garage Equipment
310 Aircraft and Airport Equipment
311 Other Service Company
Property
-------- -------- -------- ----------
TOTAL $632,689 $802,420 $1,435,109
======== ======== ======== ==========
</TABLE>
(1) Provide an explanation of those changes considered material:
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE IV - INVESTMENTS
Instructions:
Complete the following schedule concerning investments.
Under Account 124 "Other Investments," state each investment
separately, with description, including, the name of issuing
company, number of shares or principal amount, etc.
Under Account 136, "Temporary Cash Investments," list each
investment separately.
Balance at Balance at
Beginning of Close of
Year Year
Description
Account 123 - Investment in Associated Companies
Entergy Systems & Service, Inc. (13,500 Shares
Common Stock) $(2,746,947) $91,795,937
Account 124 - Other Investments
First Pacific Networks, Inc (1,715,235
shares, $0.01 Par Common Stock) 6,688,705 1,876,038
Account 128 - Special Funds
California office security deposit 30,000 30,000
Account 136 - Temporary Cash Investments
Commercial paper 4,482,334
----------- -----------
TOTAL $ 3,971,758 $98,184,309
=========== ===========
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Schedule V - Accounts Receivable from Associate Companies
Instructions:
Complete the following schedule listing accounts receivable from each
associate company. Where the service company has provided accommodation
or convenience payments for associate companies, a separate listing
of total payments for each associate company by subaccount should be
provided.
Balance at Balance at
Beginning of Close of
Description Year Year
Account 146 - Accounts Receivable from Associate Companies
Entergy Richmond Power Corp. $ 0 $ 0
Entergy Power Development Corp. 6,115,785 14,035,540
Entergy Argentina S.A., Ltd. 0 163,458
Entergy S.A. (15,201) 0
Entergy Transener S.A. 0 0
Entergy Power, Inc. 327,256 282,516
Entergy Corporation 2,621,585 0
Entergy SASI 35,683 (3,543)
Entergy Pakistan, Ltd. 106,839 20,828
Entergy Power Asia, Ltd. 385,173 0
Entergy Services Inc. 0 3,993
Entergy Power Holdings I, Ltd. 0 3,926
---------- -----------
TOTAL $9,577,120 $14,506,718
========== ===========
Total
Analysis of Convenience or Accommodation Payments: Payments
Entergy Systems and Service, Inc. - Consulting $120,041
--------
TOTAL PAYMENTS $120,041
========
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Schedule VI - Fuel Stock Expense Undistributed
Instructions:
Report the amount of labor and expenses incurred with respect to
fuel stock expenses during the year and indicate amount attributable
to each associate company. Under the section headed "Summary" listed
below give an overall report of the fuel functions performed by
the service company.
Description Labor Expenses Total
Account 152 - Fuel Stock Expenses Undistributed None None None
---- ---- ----
TOTAL -0- -0- -0-
==== ==== ====
Summary:
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Schedule VII - Stores Expense Undistributed
Instructions:
Report the amount of labor and expenses incurred with respect to stores
expense during the year and indicate amount attributable to each associate
company.
Description Labor Expenses Total
Account 163 - Stores Expense Undistributed None None None
---- ----- -----
TOTAL -0- - 0 - - 0 -
==== ===== =====
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE VIII - MISCELLANEOUS CURRENT AND ACCRUED ASSETS
Instructions:
Provide detail of items in this account. Items less than $10,000 may be
grouped, showing the number of items in each group.
Balance Balance
at at
Description Beginning Close of
of Year Year
Account 174 - Miscellaneous Current and
Accrued Assets
Interest Receivable on Temporary Investments $ 0 $ 9,758
------ -------
TOTAL $ 0 $ 9,758
====== =======
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
Schedule IX - Miscellaneous Deferred Debits
Instructions:
Provide detail of items in this account. Items less than $10,000 may
be grouped by class showing the number of items in each class.
Balance Balance
at at
Description Beginning Close of
of Year Year
Account 186 - Miscellaneous Deferred Debits
Employee Benefits $ 0 $(135,281)
Non-Productive Time 0 (80,398)
First Pacific Networks, Inc. License 2,243,411 0
---------- ---------
TOTAL $2,243,411 $(215,679)
========== =========
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
Schedule X - Research, Development or Demonstration Expenditures
Instructions.
Provide a description of each material research, development, or demonstration
project which incurred costs by the service corporation during the year.
Description Amount
Account 188 - Research, Development, or Demonstration Expenditures None
-----
TOTAL - 0 -
=====
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE XI - PROPRIETARY CAPITAL
Par or
Number Stated Outstanding Close of Period
of Shares Value No. of Total
Account Number Class of Stock Authorized Per Share Shares Amount
<S> <C> <C> <C> <C>
201 Common Stock Issued 100,000 None 54,400 $54,400,000
</TABLE>
Instructions:
Classify amounts in each account with brief explanation, disclosing the
general nature of transactions which give rise to the reported amounts.
Description Amount
Account 211 - Miscellaneous Paid-in Capital $125,000,000
Capital contribution from Entergy Corporation for
EEI to invest in Entergy SAS.
Account 215 - Appropriated Retained Earnings None
------------
TOTAL $125,000,000
============
Instructions:
Give particulars concerning net income or (loss) during the year,
distinguishing between compensation for the use of capital owed or
net loss remaining from servicing nonassociates per the General
Instructions of the Uniform System of Accounts. For dividends paid
during the year in cash or otherwise, provide rate percentage,
amount of dividend, date declared and date paid.
<TABLE>
<CAPTION>
Balance at Net Income Dividends Balance at
Beginning of -or (loss) Paid Close of
Description Year Year
<S> <C> <C> <C> <C>
Account 216 - Unappropriated Retained Earnings $(29,366,245) $(38,021,432) None $(67,387,677)
Unrealized Holding Losses pursuant to FAS 115 (2,842,535) 2,842,535 0
------------ ------------ ----- ------------
TOTAL $(32,208,780) $(35,178,897) - 0 - $(67,387,677)
============ ============ ===== ============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE XII - LONG TERM DEBT
Instructions:
Advances from associate companies should be reported separately for
advances on notes, and advances on open account. Names of associate
companies from which advances were received shall be shown under the
class and series of obligation column. For Account 224 - Other long-term
debt provide the name of creditor company or organization, terms of
the obligation, date of maturity, interest rate, and the amount
authorized and outstanding.
Terms of
Obligation Balance at Balance at
Class & Series Date of Interest Amount Beginning Close
Name of Creditor of Obligation Maturity Rate Authorized of Year Additions Deductions(1) of Year
<S> <C> <C> <C>
Account 223 - Advances from
Associate
Companies: None None None
Entergy Corporaton
Account 224 - Other Long-Term
Debt: None None None
--- --- --- ---
TOTAL $ 0 $ 0 $ 0 $ 0
=== === === ===
</TABLE>
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE XIII - CURRENT AND ACCRUED LIABILITIES
Instructions:
Provide balance of notes and accounts payable to each associate company.
Give description and amount of miscellaneous current and accrued
liabilities. Items less than $10,000 may be grouped, showing the number
of items in each group.
Balance at Balance at
Description Beginning Close of
of Year Year
Account 233 - Notes Payable to None None
Associate Companies
---------- ----------
TOTAL $ 0 $ 0
---------- ----------
Account 234 - Accounts Payable to Associate Companies
Entergy Services, Inc. 224,150 533,486
Entergy Corporation 0 8,883
---------- ----------
TOTAL 224,150 542,369
---------- ----------
Account 242 - Miscellaneous Current and Accrued Liabilities
Benefits Plans 1,020,320 2,160,572
Outside Directors Stock Plan (13,083) (11,116)
Accrued Payroll 306,058 0
Accrued Revenues 0 452
---------- ----------
TOTAL $1,313,295 $2,149,908
========== ==========
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Schedule XIV - Notes to Financial Statements
Instructions:
The space below is provided for important notes regarding the financial
statements or any account thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the end of the year. Notes
relating to financial statements shown elsewhere in this report may be
indicated here by reference.
See pages 14-A through 14-F.
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Schedule XIV - Notes to Financial Statements
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Organization
Entergy Enterprises, Inc. (Enterprises or the Company), formerly
Electec, Inc., is a diversified subsidiary of Entergy Corporation
(Entergy) chartered in December 1983 to market the Entergy
System's (the System) capabilities, expertise, and resources, and
to engage in preliminary development activity relating to investments
in qualifying facilities under the Public Utility Regulatory
Policies Act (PURPA).
Enterprises' principal activities now include (1) preliminary
development activities with respect to various investment
opportunities for the Entergy System, (2) market to
non-associates the System's expertise and capabilities in energy
related areas, including the expertise of Entergy Power, Inc. (EPI)
gained from its bulk power business, (3) market to non-associates
intellectual property developed by System companies, (4) provide
various consulting, management, administrative and support
services to associate companies, excluding certain associate
companies, (5) provide directly, or indirectly through one or
more special purpose subsidiary companies of Entergy or Enterprises,
various operations and maintenance services to non-associate or
associate companies (other than the excluded companies), and
(6) develop and field test a proposed telecommunications system
for advanced energy management and other utility applications.
Enterprises was first authorized to conduct business as a
subsidiary company for the System by order of the SEC dated
January 11, 1983.
All transactions between Enterprises and the System companies are
on a full cost reimbursement basis.
B. System of Accounts
The accompanying financial statements include the accounts of
Enterprises. The financial statements report Enterprises'
subsidiary, Entergy Systems and Service, Inc. (Entergy Systems)
under the equity method of accounting for investments in common
stock. The accounts of Enterprises are maintained in accordance
with the system of accounts prescribed by the SEC.
C. Cash and Cash Equivalents
For the purpose of Statement of Cash Flows, Enterprises considers
all highly liquid instruments purchased with an original maturity
of three months or less to be cash equivalents.
D. Depreciation and Amortization
Depreciation is computed on the declining balance method for
Enterprises over the estimated useful lives of the furniture and
equipment. Leasehold costs and improvements are amortized over
their estimated useful lives (five years).
E. Goodwill
Intangible assets consist primarily of goodwill that represents
the excess of cost over the fair value of net assets acquired,
and the balance is being amortized over five years using the
straight-line method.
F.Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with
generally accepted accounting principles requires management to
make estimates and assumptions that affect the reported amounts
of assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those
estimates.
G.Income Taxes
The company accounts for income taxes pursuant to Statement of
Financial Accounting Standards No. 109 "Accounting For Income
Taxes: (FAS 109). This standard requires that deferred income
taxes be recorded for all temporary differences between the
financial statement and tax basis of assets and liabilities and
loss carryforwards, and that deferred tax balances be based on
enacted tax laws at tax rates that are expected to be in effect
when the temporary differences reverse.
The Company joins its parent and the other Entergy subsidiaries
in filing a consolidated Federal income tax return. Income taxes
(or benefits) are allocated to the Company in proportion to its
contribution to consolidated taxable income.
H.Recently Issued Accounting Pronouncements
Statement of Financial Accounting Standards No. 121, Accounting
for the Impairment of Long-Lived Assets and for Long-Lived Assets
to Be Disposed Of was issued during 1995 and is effective for
financial statements for fiscal years beginning after December
15, 1995. The statement requires that management review long-
lived assets and certain identifiable intangibles for impairment
whenever events or changes in circumstances indicate that the
carrying amount of an asset may not be recoverable. The impact
of this statement is not expected to have a material impact of
this statement is not expected to have a material impact on the
financial position or operating results of the Company.
2. TRANSACTIONS WITH AFFILIATES
Entergy Services provides technical and consulting services and
other assistance to Enterprises at cost (except as indicated in
Note 1) which amounted to $2,875,000, $1,474,000, and $1,279,000
for the years 1995, 1994 and 1993, respectively.
3. INCOME TAXES
The tax sharing agreement with Entergy provides that the Company
will receive tax benefit for its taxable loss. Accordingly, a
long-term receivable has been recorded at December 31, 1995 to
reflect the tax benefit of the Company's cumulative loss in
jurisdictions in which the Company files combined or consolidated
returns. (Federal, Arkansas, and Mississippi for 1995)
Deferred income taxes are provided in recognition of temporary
differences between the financial reporting and income tax basis
of assets and liabilities and loss carryforwards. Deferred
income tax assets (liabilities) are comprised of the following at
December 31, 1995, 1994 and 1993.
<TABLE>
<CAPTION>
1995 1994 1993
<S> <C> <C> <C>
Deferred Tax Assets/(Liabilities):
Equipment and fixed assets 152,563 73,836 17,488
Deferred charges and other 2,767,614 1,181,326 157,386
Unrealized loss on marketable securities 3,004,667 1,114,985 -
Other intangible assets 1,536,356 778,496 480,753
State net operating loss carryforwards 325,753 325,753
Gross deferred tax asset/(liability) 7,786,953 3,474,396 655,627
State Deferred tax valuation allowance (325,753) (325,753) 0
------------ ------------ ---------
Net Deferred Tax Assets/(Liabilities) $ 7,461,200 $ 3,148,643 $ 655,627
============ ============ =========
</TABLE>
The ultimate realization of these deferred tax assets is
dependent upon future taxable income sufficient to offset the
related deductions and loss carryforwards within the applicable
carryforward period. The valuation allowance is based upon
management's conclusions that sufficient positive evidence, as
defined as FAS 109, regarding the realization of certain tax
carryforward items does not exist and generally relate to state
loss carryforwards in states in which Entergy or its
subsidiaries do not file a combined or consolidated return.
The provision for intercompany (benefit) expense in lieu of
federal income taxes for the year ended December 31, 1995, 1994
and 1993 consisted of the following:
<TABLE>
<CAPTION>
1995 1994 1993
<S> (In dollars)
Current: <C> <C>
Federal $ 230,556 $ (898,428) $(3,412,451)
State (321,241) (39,371) (3,459)
------------ ----------- -----------
Total Current Income Tax Expense (Benefit) (90,685) (937,799) (3,415,910)
------------ ----------- -----------
Deferred:
Federal (4,528,467) (997,895) (386,128)
State (898,780) (662,752) -
Valuation Allowance - 325,753 -
------------ ----------- -----------
Total Deferred Income Tax Expense (5,427,247) (1,334,894) (386,128)
------------ ----------- -----------
Recorded income tax expense $(5,517,932) $(2,272,693) $(3,802,038)
============ =========== ===========
</TABLE>
The Company's total income taxes differ from the amounts computed
by applying the statutory Federal income tax rate to income
before taxes. The primary reason for the difference is the
effect of state income taxes.
At December 31, 1995, the Company had net operating loss
carryforwards available for state income tax reporting purposes of
approximately $3 million. These net operating loss
carryforwards expire during various periods through 2010
depending on the taxing jurisdiction.
4. INVESTMENT IN FIRST PACIFIC NETWORKS, INC. (FPN)
During 1995, the Company experienced a continuing decline in
market value per share of its investment in the common stock of
FPN, and management determined that the decline
in market value of the FPN investment was other than temporary.
Accordingly, in 1995 the Company recognized such decline in the
market value of its FPN investment in its results of operations
as an other than temporary decline.
In March 1994, Enterprises consummated with FPN an amendment to a
Product License Agreement (the "License Agreement") entered into
in July 1991 in connection with utility applications, being
jointly developed by Enterprises and FPN, for FPN's patented
communications technology. The original License Agreement
primarily provided Enterprises an exclusive irrevocable license
to make, use and sell the "Core Technology" in the "New Products"
and sub-license to "Qualifying Utilities" the right to
manufacture and provide the New Products to end users. The
amendment removed Enterprises' right to manufacture or have
manufactured the New Products. As consideration for the
amendment of its rights, Enterprises received $2 million upon the
execution of the amendment, which was recorded as a reduction of
its investment in the original license agreement amount, and a $7
million unsecured, non-interest bearing obligation payable on
demand after March 15, 1998. Given FPN's limited success to
date in commercializing its patented communications technology,
Enterprises is uncertain as to FPN's ability to meet its $7
million obligation. Consequently, Enterprises has fully reserved
this receivable.
As a result of reliability problems encountered in connection with
the testing of the New Products, on May 24, 1995, Enterprises and
FPN entered into a new amendment to the Product (the "Second
Amended Agreement"), which, among other things, (i) terminated
the parties' joint effort to complete the development of the
New Products, (ii) retained and expanded Enterprises' exclusive
license to make, use and market the New Products within the
territorial limits of the Entergy System, and (iii) modified
Enterprises' right to share in revenues derived from the marketing
of the new Products outside the Entergy System. Although the
Second Amended Agreement contemplates that FPN may proceed
independently with the development of the New Products, given
the above referenced problems and the resulting uncertainly
concerning the long-term commercial success of the New Products,
the Company has recognized a $1.6 million loss on the write-down
of the remaining unamortized balance of the product license fee at
December 31, 1995.
5. INVESTMENT IN SYSTEMS AND SERVICE INTERNATIONAL, INC.
In 1992, Enterprises formed a new subsidiary, Entergy Systems and
Service, Inc. ("Entergy Systems") (formerly Systems and Service
U.S.A., Inc.) to enter into the business of providing energy
management services with an initial focus on efficient lighting
technologies. On December 29, 1992, Entergy Systems acquired a
9.95% equity interest in Systems and Service International, Inc.
(SASI), a manufacturer of efficient lighting products. Entergy
Systems also made a loan to SASI, acquired the business and
assets of SASI's distribution subsidiary, and entered into an
agreement to distribute SASI's products.
In April, 1995, Entergy Systems consummated a series of transactions
with SASI which, among other things:
- amended the existing Distribution Agreement to provide for lower
prices and eliminated minimum order quantities;
- provided for Entergy System's purchase of certain additional SASI
developed technology;
- provided for a Confidentiality and Non-Competition Agreement with
SASI;
- provided for the redemption of Entergy System's common stock
investment in SASI.
6. NOTE PAYABLE TO PARENT:
The Company entered in to a $100 million revolving credit
agreement with Entergy which expired December 31, 1994. This
agreement provided for a maturity date for individual draws at
the earlier of five years from the borrowing date or December 31,
1999. During 1995, Entergy received approval from the Securities
and exchange Commission to make capital contributions to
Enterprises who, in turn, would make capital contributions to
Entergy SAS in the aggregate amount of $125,000,000. Entergy SAS
applied a portion of the proceeds derived from such capital
contributions to discharge the entire principal indebtedness of
$72.3 million owed to Entergy under the revolving credit
agreement.
7. COMMON STOCK
At December 31, 1995, Enterprises is authorized, by its Charter,
to issue 100,000 shares of its common stock. During 1995,
Enterprises received a capital contribution of $125 million. No
shares of common stock were issued in the transaction. The
proceeds of this contribution were used to provide an additional
capital contribution to Entergy SASI with no additional common
stock issued.
It is anticipated that Enterprises' cash flow generated by
ongoing operations may not be sufficient to fund all of
Enterprises' obligations. On June 30, 1995, the SEC authorized
Entergy to invest up to $350 million through December 31, 1997 in
Enterprises. In addition to common stock, such investments
may take the form of capital contributions, loans, and/or
guarantees of the indebtedness or other obligations of
Enterprises or certain of its affiliated companies.
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE XV - STATEMENT OF INCOME
Account Description Current Year Prior Year
Income
457 Services rendered to associate companies $ 15,879,036 $ 11,818,915
458 Services rendered to nonassociate companies 137,673 212,489
418 Subsidiary Income (30,457,116) (10,887,245)
419 Interest Income 149,723 106,180
421 Miscellaneous income or loss 0 548,164
------------ ------------
Total income (14,290,684) 1,798,503
------------ ------------
Expense
920 Salaries and wages 10,574,432 7,025,656
921 Office supplies and expenses 4,977,511 2,168,591
922 Administrative expense transferred - credit (5,935,364)
923 Outside services employed 6,558,581 6,911,732
924 Property insurance 56,179 36,523
925 Injuries and damages 31,381 (859)
926 Employee pensions and benefits 684,522 313,571
928 Regulatory commission expense
930.1 General advertising expenses 29,001 736
930.2 Miscellaneous general expenses 61,156 88,108
931 Rents 1,427,145 597,618
932 Maintenance of structures and equipment 10,648 1,147
940 Active Development 0 115,461
403 Depreciation and amortization expense 1,428,488 1,269,179
408 Taxes other than income taxes 15,149 (10,886)
409 Income taxes 190,236 (1,459,989)
410 Provision for deferred income taxes (5,708,168) (812,703)
411 Provision for deferred income taxes - credit
411.5 Investment tax credit
426.1 Donations 32,090 2,630
426.4 Civic Political
426.5 Other deductions 9,297,761 33,692
427 Interest on long-term debt
430 Interest on debt to associate companies
431 Other interest expense
------------ ------------
Total Expense 23,730,748 16,280,207
------------ ------------
Net Income or (Loss) $(38,021,432) $(14,481,704)
============ ============
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
ANALYSIS OF BILLING
ASSOCIATE COMPANIES - ACCOUNT 457
Compensation
Direct Indirect For Total
Costs Costs Use of Amount
Name of Associate Company Charged Charged Capital Billed
457-1 457-2 457-3
Entergy SASI $ 141,816 $ 1,001 $ 142,817
Entergy S.A. 93,992 69,759 163,751
Entergy Argentina S.A. 243,620 185,110 428,730
Entergy Power, Inc. 830,758 657,217 1,487,975
Entergy Power Development Corp. 5,356,279 4,191,628 9,547,907
Pacific Rim 2,410,652 1,697,204 4,107,856
---------- ---------- ----- -----------
TOTAL $9,077,117 $6,801,919 - 0 - $15,879,035
========== ========== ===== ===========
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
ANALYSIS OF BILLING
NONASSOCIATE COMPANIES - ACCOUNT 458
Instructions:
Provide a brief description of the services rendered to each nonassociate
company:
Direct Indirect Compensation Excess Total
Cost Cost For Use Total or Amount
Name of Nonassociate companies Charged Charged of Capital Cost Deficiency Billed
458-1 458-2 457-3 458-4
<S> <C> <C> <C> <C> <C> <C>
Vidalia-Catalyst (Constructon
Management $56,450 $56,450
Costanera $4,385 $2,546 $6,931 58,814 65,745
ARLIS (Railcar Management Software) 15,478 15,478
------ ------ ---- ------ ------- -------
Total $4,385 $2,546 $6,931 $130,742 $137,673
====== ====== ==== ====== ======== ========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE XVI - ANALYSIS OF CHARGES FOR SERVICE -
ASSOCIATE AND NONASSOCIATE COMPANIES
Total cost of service will equal for associate and nonassociate companies
the total amount billed under their separate analysis of billing schedules.
Nonassociate
Associate Company Charges Company Charges Total Charges for Service
Direct Indirect Direct Indirect Direct Indirect
Account Description of Items Cost Cost Total Cost Cost Total Cost Cost Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
920 Salaries and Wages $3,643,657 $2,730,367 $6,374,024 $3,643,657 $2,730,367 $6,374,024
921 Office Supplies & Expenses 3,323,602 2,490,534 5,814,136 $4,385 $2,546 $6,931 3,327,987 2,493,080 5,821,067
922 Administrative Expense (1,327,157) (994,502) (2,321,659) (1,327,157) (994,502) (2,321,659)
Transferred - Credit
923 Outside Services Employed 2,340,316 1,753,711 4,094,027 2,340,316 1,753,711 4,094,027
924 Property Insurance 33,148 24,839 57,987 33,148 24,839 57,987
925 Injuries and Damages
926 Employee Pensions and
Benefits 8,926 6,689 15,615 8,926 6,689 15,615
928 Regulatory Commission Expense
930.1 General Advertising Expenses
930.2 Miscellaneous General Expenses 1,421 1,065 2,486 1,421 1,065 2,486
931 Rents 1,052,933 789,013 1,841,946 1,052,933 789,013 1,841,946
932 Maintenance of Structures and
Equipment
403 Depreciation and Amortization
Expense
408 Taxes Other Than Income Taxes
409 Income Taxes
410 Provision for Deferred Income Taxes
411 Provision for Deferred Income Taxes
- Credit
411.5 Investment Tax Credit
421 Miscellaneous Nonoperating Income
426.1 Donations
426.4 Political Contributions 271 203 474 271 203 474
426.5 Other Deductions
427 Interest on Long-Term Debt
431 Other Interest Expense
----------------------------------------------------------------------------------------------
TOTAL EXPENSES 9,077,117 6,801,919 15,879,036 4,385 2,546 6,931 9,081,502 6,804,465 15,885,967
----------------------------------------------------------------------------------------------
Compensation for use of Equity Capital
----------------------------------------------------------------------------------------------
430 Interest on Debt to
Associate Companies
----------------------------------------------------------------------------------------------
TOTAL COST OF SERVICE $9,077,117 $6,801,919 $15,879,036 $4,385 $2,546 $6,931 $9,081,502 $6,804,465 $15,885,967
==============================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE XVII - SCHEDULE OF EXPENSE DISTRIBUTION
BY DEPARTMENT OR SERVICE FUNCTION
Instruction:
Indicate each department or service function. (See Instruction 01-3 General
Structure of Accounting System: Uniform System of Accounts).
DEPARTMENT OR SERVICE FUNCTION
Account Description of Items Total Demand Side
Number Amount Executive Management Development Legal Administration
<S> <C> <C> <C> <C> <C> <C> <C>
920 Salaries and Wages $10,574,432 $4,463,951 $ 395,356 $2,873,948 $ 613,271 $ 827,179
921 Office Supplies and Expenses 4.977,511 686,053 888,259 2,013,256 222,705 640,996
922 Administrative Expense Transferred
- Credit (5,935,364) (2,067,101) (385,837) (1,427,847) (694,447) (1,171,031)
923 Outside Services Employed 6,558,581 862,297 1,781,611 1,130,760 2,067,249 381,632
924 Property Insurance 56,179 350 33,148 22,681
925 Injuries and Damages 31,381 31,381
926 Employee Pensions and Benefits 684,522 32,555 55,287 53,171 2,488 502,178
928 Regulatory Commission Expense
930.1 General Advertising Expense 29,001 27,952 1,049
930.2 Miscellaneous General Expense 61,156 59,004 189 1,421 405
931 Rents 1,427,145 11,645 1,178 1,056,128 358,194
932 Maintenance of Structures and
Equipment 10,648 10,648
940 Active Development
403 Depreciation and Amortization 1,428,488 12,614 712,115 53,592 650,167
Expense
408 Taxes Other Than Income Taxes 15,149 107 1,800 13,242
409 Income Taxes 190,236 (533,170) 723,406
410 Provision for Deferred Income (5,708,168) (4,615,941) (1,092,227)
Taxes
411 Provision for Deferred Income
Taxes - Credit
411.5 Investment Tax Credit
426.1 Donations 32,090 30,360 1,500 180
426.4 Political Contributions
426.5 Other Deductions 9,297,761 24,615 9,272,544 271 331
427 Interest on Long-Term Debt
431 Other Interest Expense
---------------------------------------------------------------------------
TOTAL EXPENSES $23,730,748 $4,116,450 $7,571,591 $5,819,100 $2,211,597 $1,900,080
===========================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE XVII - SCHEDULE OF EXPENSE DISTRIBUTION
BY DEPARTMENT OR SERVICE FUNCTION
Instruction:
Indicate each department or service function. (See Instruction 01-3 General
Structure of Accounting System: Uniform System of Accounts).
DEPARTMENT OR SERVICE FUNCTION
Account Description of Items Bulk Entergy Technical
Number Power Power Mktg. Services
<S> <C> <C> <C> <C>
920 Salaries and Wages $458,056 $384,778 $557,893
921 Office Supplies and Expenses 116,870 90,380 318,992
922 Administrative Expense
Transferred - Credit (61) (189,040)
923 Outside Services Employed 130,149 159,107 45,776
924 Property Insurance
925 Injuries and Damages
926 Employee Pensions and Benefits 25,599 13,244
928 Regulatory Commission Expense
930.1 General Advertising Expense
930.2 Miscellaneous General Expense 137
931 Rents
932 Maintenance of Structures and
Equipment
940 Active Development
403 Depreciation and Amortization
Expense
408 Taxes Other Than Income Taxes
409 Income Taxes
410 Provision for Deferred Income
Taxes
411 Provision for Deferred Income
Taxes - Credit
411.5 Investment Tax Credit
426.1 Donations 50
426.4 Political Contributions
426.5 Other Deductions
427 Interest on Long-Term Debt
431 Other Interest Expense
----------------------------------
TOTAL EXPENSES $705,014 $659,864 $747,052
==================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
DEPARTMENTAL ANALYSIS OF SALARIES - ACCOUNT 920
Departmental Salary Expense
Name of Department Included in Amounts Billed to Number of
Indicate each department Total Parent Other Non Personnel
or service function Amount Company Associates Associates End of Year
<S> <C> <C> <C>
Executive $ 4,463,951 $ 2,690,767 2
Development 4,670,031 2,814,987 42
Legal 613,271 369,666 8
Administration 827,179 498,604 16
------------ ------------ -----
TOTAL $10,574,432 $ 6,374,024 68
============ ============ =====
</TABLE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Outside Services Employed - Account 923
Instructions:
Provide a breakdown by subaccount of outside services employed. If the
aggregate amounts paid to any one payee and included within one subaccount
is less than $25,000, only the aggregate number and amount of all such
payments included within the subaccount need be shown. Provide a subtotal
for each type of service.
Relationship
"A" - Associate
"NA" - Non
From Whom Purchased Address Associate Amount
See pages 21-A thru 21-C $6,558,581
==========
<PAGE>
<TABLE>
<CAPTION>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Outside Services Employed - Account 923
Relationship
"A" - Associate
"NA" - Non
From Whom Purchased Address Associate Amount
<S> <C> <C> <C>
Americorp Relocation Management 17304 Preston Road, Ste. 400 NA 65,254
Dallas, TX 75252
Black & Veatch P.O. Box 27-258 NA 60,342
Kansas City, MO 64180
Byron He 9201 Kanis Road, Apt. 1N NA 56,316
Little Rock, AR 72205
Carregal & Funes Chemical Bank NA 117,923
Enhiesta, SA
Chadbourne & Parke 1101 Vermont Avenue NW NA 328,520
Washington, D. C. 20005
Coopers & Lybrand 317 Seventeenth Street NA 25,410
Denver, CO 80202
Duke/Fluor Daniel P.O. Box 65934 NA 25,000
Charlotte, NC 28265
EDS Management Consulting 1025 Thomas Jefferson St. NW, Ste. 301 NA 75,000
Washington, D.C. 20007
Entergy Services, Inc. 639 Loyola Avenue A 2,125,556
New Orleans, LA 70113
Estudio Juridico Otero Huerfanos 835, Piso 10 NA 68,810
Santiago
Federal Energy Regulatory Commision Lock Box 93938 NA 82,667
Chicago, IL 60673
First Pacific Network, Inc. 871 Fox Lane NA 75,000
San Jose, CA 95131
Friday, Eldridge & Clark 400 West Capitol NA 134,729
Little Rock, AR 72201
G.E. Capital Asia Pacific 1004-6 Three Exchange Square NA 100,000
Hong Kong
Hewitt Associates LLC P.O. Box 95135 NA 67,803
Chicago, IL 60694
F.G. Hyde, Inc. 16316 E. Soriano Dr. NA 33,592
Hacienda Heights, CA 91745
N. Hunter Johnston 1776 Eye Street NW, Ste. 245 NA 30,500
Washington, D.C. 20006
Jones Walker Waechter Poitevent Suite 245 Republic Place NA 30,467
Washington, DC 20006
Krueger Associates 2307 Pine Bend Drive NA 37,688
Kingwood, TX 77339
Lamalie Amrop International P.O. Box 340468 NA 186,583
Tampa, FL 33694
Locke Purnell Rain Harrell 2200 Ross Avenue, Ste. 2200 NA 214,584
Dallas, TX 75201
M.W. Rice 2222 Breckenridge NA 40,824
Little Rock, AR 72207
Mayer Brown & Platt 190 South Lasalle Street NA 84,639
Chicago, IL 60604
Bechtel 50 Beale Street NA 73,574
San Francisco, CA 94119
Phelps Dunbar 400 Poydras Street NA 112,451
Texaco Center
New Orleans, LA 70130
Pillar Corporation 10 Post Office Square, Suite 350 NA 33,814
Boston, MA 02109
Pillsbury Madison & Sutro P.O. Box 60000 NA 52,656
San Francisco, CA 94160
RHR International P.O. Box 95122 NA 165,364
Chicago, IL 60694
Reid & Priest 40 West 57th Street NA 251,496
New York, NY 10019
SSI, Inc. dba Spencer Stuart NA 46,418
P.O. Box 98991
Chicago, IL 60693
Sade Ingenieria y Construcciones S.A. Maipu 1 NA 50,828
1599 Buenos Aries
Argentina
Saker Lynd Partnership, Inc. 11459 Madera Rosa Way NA 70,497
San Diego, CA 92124
Simpson Thatcher & Bartlett Asia Pacific Finance Tower, 32nd Floor NA 89,700
3 Garden Road
Central, Hong Kong
Speas Technologies, Inc. 1601 Westpark Drive, Suite 9 NA 88,191
Little Rock, AR 72204
Strategic Performance Management Citicorp Center, #1Sansome Street, Ste 2000 NA 48,545
San Francisco, CA 94104
Michael J. Suter 1206 California Street NA 83,975
Huntington Beach, CA 92648
Tenneco Power Generation P.O. Box 2511 NA 56,442
Houston, TX 77252
Williams & Anderson 111 Center Street, 22nd Floor NA 70,860
Little Rock, AR 72201
Williams Cable Installation 19 Brookview Drive NA 47,115
Little Rock, AR 72209
Others (145) Various NA 1,149,450
---------
Total 6,558,581
=========
</TABLE>
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
EMPLOYEE PENSIONS AND BENEFITS - ACCOUNT 926
Instructions:
Provide a listing of each pension plan and benefit program provided by the
service company. Such listing should be limited to $25,000.
Description Amount
Moving Expense Reimbursement $666,312
Other 18,210
--------
TOTAL $684,522
========
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
General Advertising Expenses - Account 930.1
Instructions:
Provide a listing of the amount included in Account 930.1, "General Advertising
Expenses," classifying the items according to the nature of the advertising
and as defined in the account definition. If a particular class includes
an amount in excess of $3,000 applicable to a single payee, show separately
the name of the payee and the aggregate amount applicable thereto.
Description Name of Amount
Payee
Amount
Newspaper Advertisement ADGROUP, LTD. $18,500
MERCOSUR Advertisement Montgomery-Scott
International 9,452
Project Finance Advertisement Wall Street Journal 1,049
-------
TOTAL $29,001
=======
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
FOR THE YEAR ENDED DECEMBER 31, 1995
MISCELLANEOUS GENERAL EXPENSES - ACCOUNT 930.2
Instructions:
Provide a listing of the amount included in Account 930.2, "Miscellaneous
General Expenses," classifying such expenses according to their nature.
Payments and expenses permitted by Section 321(b)(2) of the Federal
Election Campaign Act, as amended by Public Law 94-283 in 1976
(2 U.S.C. SS441(b)(2)) shall be separately classified.
Descri Amount
ption
Director Fees & Expenses $59,003
Miscellaneous 2,153
-------
TOTAL $61,156
=======
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Rents - Account 931
Instructions.
Provide a listing of the amount included in Account 931, "Rents," classifying
such expenses by major groupings of property, as defined in the account
definition of the Uniform System of Accounts.
Type of Property Amount
Building $1,378,314
Office Equipment 48,831
----------
TOTAL $1,427,145
==========
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
TAXES OTHER THAN INCOME TAXES - ACCOUNT 408
(In Thousands)
Instructions:
Provide an analysis of Account 408, "Taxes Other Than Income Taxes." Separate
the analysis into two groups: (1) other than U.S. Government taxes, and
(2) U.S. Government taxes. Specify each of the various kinds of taxes and
show the amounts thereof. Provide a subtotal for each class of tax.
Kind of Tax Amount
Franchise $15,149
-------
TOTAL $15,149
=======
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Donations - Account 426.1
Instructions:
Provide a listing of the amount included in Account 426.1, "Donations,"
classifying such expenses by its purpose. The aggregate number and
amount of all items of less than $3,000 may be in lieu of details.
Name of Recipient Purpose of Amount
Donation
U.S. Asean Council Corporate sponsorship $20,000
Washington Symphony Orchestra Corporate sponsorship 10,100
Others (6) Various charitable & 1,990
educational
-------
TOTAL $32,090
=======
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Other Deductions - Account 426.5
Instructions:
Provide a listing of the amount included in Account 426.5, "Other Deductions,"
classifying such expenses according to their nature.
Description Name of Amount
Payee
FPN License investment write-off $9,272,544
Club Membership and Dues 25,217
----------
Total $9,297,761
==========
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
For the Year Ended December 31, 1995
Schedule XVIII - Notes to Statement of Income
Instructions:
The space below is provided for important notes regarding the statement of
income or any account thereof. Furnish particulars as to any significant
increases in services rendered or expenses incurred during the year. Notes
relating to financial statements shown elsewhere in this report may be
indicated hereby reference.
See Notes to Financial Statements on pages 14A - 14C.
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
Organization Chart
See pages 26-A
Methods of Allocation
Indirect costs are allocated monthly to each project based on the direct
dollars charges to the project.
Annual Statement of Compensation for Use of Capital Billed
- Not applicable -
Disclaimer of Subsidization
Enterprises represents that no Domestic Associate Company has subsidized
the operations of Central Costanera, S.A. or Edesur, S.A. and, further,
that the transfer of any personnel from, and the rendering of services
by the Domestic Associate Companies in connection with these companies
have not adversely affected the services provided by such companies to
their respective customers.
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
Organization Charts
For the Year Ended December 31, 1995
Ed Lupberger - Chairman of the Board & President
Terry Ogletree - Executive Vice President
John Brayman - Executive Vice President
Gerald McInvale - Executive Vice President, Chief Financial
Officer & Treasurer
Mike Thompson - Senior Vice President, Chief Legal Officer
& Secretary
Bob Cushman - Vice President - Finance
Bob Keegan - Vice President
Larry Folks - Vice President
Ken Oberg - Vice President
Charles Brown III - Vice President
Herbert Zureich Jr. - Vice President
Fred Nugent - Asst. Secretary
<PAGE>
ANNUAL REPORT TO THE SEC OF ENTERGY ENTERPRISES, INC. (UNCONSOLIDATED)
Signature Clause
Pursuant to the requirements of the Public Utility Holding Company Act of 1935
and the rules and regulations of the Securities and Exchange Commission issued
thereunder, the undersigned company has duly caused this report to be signed
on its behalf by the undersigned officer thereunto duly authorized.
Entergy Enterprises, Inc.
(Name of Reporting Company)
By: /s/ Gerald D. McInvale
(Signature of Signing Officer)
Gerald D. McInvale, Executive Vice President,
Chief Financial Officer and Treasurer
(Printed Name and Title of Signing Officer)
Date: May 1, 1996
<TABLE> <S> <C>
<ARTICLE> OPUR2
<CIK> 0000833411
<NAME> ENTERGY ENTERPRISES, INC.
<SUBSIDIARY>
<NUMBER> 018
<NAME> ENTERGY ENTERPRISES, INC.
<S> <C> <C>
<PERIOD-TYPE> YEAR YEAR
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1994
<PERIOD-END> DEC-31-1995 DEC-31-1994
<BOOK-VALUE> PER-BOOK PER-BOOK
<NET-SERVICE-COMPANY-PROPERTY> 2,135,598 1,178,079
<TOTAL-INVESTMENTS> 93,701,975 3,971,758
<TOTAL-CURRENT-ASSETS> 19,498,773 13,552,959
<TOTAL-DEFERRED-DEBITS> 7,526,147 5,684,004
<OTHER-ASSETS-AND-DEBITS> 0 0
<TOTAL-ASSETS-AND-DEBITS> 122,862,493 24,386,800
<TOTAL-PROPRIETARY-CAPITAL> 112,012,323 22,191,220
<TOTAL-LONG-TERM-DEBT> 0 0
<NOTES-PAYABLE> 0 0
<NOTES-PAYABLE-ASSOCIATE-COMP> 0 0
<OTHER-CURR-AND-ACCRUED-LIAB> 6,667,896 161,739
<TOTAL-DEFERRED-CREDITS> 4,182,274 2,033,841
<DEFERRED-INCOME-TAX> 0 0
<TOT-LIABIL-AND-PROPRIET-CAP> 122,862,493 24,386,800
<SERVICES-ASSOCIATE-COMPANIES> 15,879,036 11,818,915
<SERVICES-NON-ASSOCIATE-COMP> 137,673 212,489
<MISC-INCOME-OR-LOSS> 0 548,164
<TOTAL-INCOME> (14,290,684) 1,798,503
<SALARIES-AND-WAGES> 10,574,432 7,025,656
<EMPLOYEE-PENSION-AND-BENEFIT> 684,522 313,571
<OTHER-EXPENSES> 12,471,794 8,940,980
<TOTAL-EXPENSES> 23,730,748 16,280,207
<NET-INCOME> (38,021,432) (14,481,704)
<TOTAL-EXPENSES-DIRECT-COST> 9,077,117 6,325,880
<TOTAL-EXPENSES-INDIRECT-COST> 6,801,919 5,493,035
<TOT-EXP-DIRECT-AND-INDIRECT> 15,879,036 11,818,915
<PERSONNEL-END-OF-YEAR> 68 48
</TABLE>
|
|