Download the 2009 Annual Report
Download the 2009 Annual Report
Financial Review

See Notes to Financial Statements. Management's Financial Discussion and Analysis, Consolidated Financial Statements, and Notes to the Consolidated Financial Statements within the printed version of Entergy's annual report. Click here to download this file in the Adobe Acrobat format. Click here to request a printed copy of the annual report and/or annual review.

Financial Review

Forward-Looking Information

In this report and from time to time, Entergy Corporation makes statements as a registrant concerning its expectations, beliefs, plans, objectives, goals, strategies, and future events or performance. Such statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “project,” “believe,” “anticipate,” “intend,” “expect,” “estimate,” “continue,” “potential,” “plan,” “predict,” “forecast,” and other similar words or expressions are intended to identify forward-looking statements but are not the only means to identify these statements. Although Entergy believes that these forward-looking statements and the underlying assumptions are reasonable, it cannot provide assurance that they will prove correct. Any forward-looking statement is based on information current as of the date of this report and speaks only as of the date on which such statement is made. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Forward-looking statements involve a number of risks and uncertainties. There are factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including those factors discussed or incorporated by reference in (a) Item 1A. Risk Factors in the 2009 Form 10-K, (b) Management’s Financial Discussion and Analysis in the Form 10-K, and (c) the following factors (in addition to others described elsewhere in this report and in subsequent securities filings):

resolution of pending and future rate cases and negotiations, including various performance-based rate discussions and other regulatory proceedings, including those related to Entergy’s System Agreement, Entergy’s utility supply plan, recovery of storm costs, and recovery of fuel and purchased power costs

changes in utility regulation, including the beginning or end of retail and wholesale competition, the ability to recover net utility assets and other potential stranded costs, the operations of the independent coordinator of transmission for Entergy’s utility service territory, and the application of more stringent transmission reliability requirements or market power criteria by the FERC

changes in regulation of nuclear generating facilities and nuclear materials and fuel, including possible shutdown of nuclear generating facilities, particularly those owned or operated by the Non-Utility Nuclear business

resolution of pending or future applications for license renewals or modifications of nuclear generating facilities

the performance of and deliverability of power from Entergy’s generation resources, including the capacity factors at its nuclear generating facilities

Entergy’s ability to develop and execute on a point of view regarding future prices of electricity, natural gas, and other energy-related commodities

prices for power generated by Entergy’s merchant generating facilities, the ability to hedge, sell power forward or otherwise reduce the market price risk associated with those facilities, including the Non-Utility Nuclear plants, and the prices and availability of fuel and power Entergy must purchase for its Utility customers, and Entergy’s ability to meet credit support requirements for fuel and power supply contracts

volatility and changes in markets for electricity, natural gas, uranium, and other energy-related commodities

changes in law resulting from federal or state energy legislation or legislation subjecting derivatives used in hedging and risk management transactions to governmental regulation

changes in environmental, tax, and other laws, including requirements for reduced emissions of sulfur, nitrogen, carbon, mercury, and other substances, and changes in costs of compliance with environmental and other laws and regulations

uncertainty regarding the establishment of interim or permanent sites for spent nuclear fuel and nuclear waste storage and disposal

variations in weather and the occurrence of hurricanes and other storms and disasters, including uncertainties associated with efforts to remediate the effects of hurricanes and ice storms (including most recently, Hurricane Gustav and Hurricane Ike in 2008 and the January 2009 ice storm in Arkansas) and recovery of costs associated with restoration, including accessing funded storm reserves, federal and local cost recovery mechanisms, securitization, and insurance

effects of climate change, and environmental and other regulatory obligations intended to compel reductions in carbon dioxide emissions

Entergy’s ability to manage its capital projects and operation and maintenance costs

Entergy’s ability to purchase and sell assets at attractive prices and on other attractive terms

the economic climate, and particularly economic conditions in Entergy’s Utility service territory and the Northeast United States

the effects of Entergy’s strategies to reduce tax payments

changes in the financial markets, particularly those affecting the availability of capital and Entergy’s ability to refinance existing debt, execute share repurchase programs, and fund investments and acquisitions

actions of rating agencies, including changes in the ratings of debt and preferred stock, changes in general corporate ratings, and changes in the rating agencies’ ratings criteria

changes in inflation and interest rates

the effect of litigation and government investigations or proceedings

advances in technology

the potential effects of threatened or actual terrorism and war

Entergy’s ability to attract and retain talented management and directors

changes in accounting standards and corporate governance

declines in the market prices of marketable securities and resulting funding requirements for Entergy’s defined benefit pension and other postretirement benefit plans

changes in decommissioning trust fund values or earnings or in the timing of or cost to decommission nuclear plant sites

the ability to successfully complete merger, acquisition, or divestiture plans, regulatory or other limitations imposed as a result of merger, acquisition, or divestiture, and the success of the business following a merger, acquisition, or divestiture

risks and uncertainties associated with unwinding the business infrastructure associated with the contemplated Non-Utility Nuclear spin-off, joint venture and related transactions.

Download 2008 Annual Report

Five-Year Summary of Selected Financial and Operating Data

Consolidated Statements of Income

Consolidated Statements of Retained Earnings, Comprehensive Income and Paid-In Capital

Consolidated Balance Sheets

Consolidated Statements of Cash Flows