ENTERGY CORP /DE/ - FORM 8-K - EX-99.1

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8-K - ENTERGY CORP /DE/	a06011.htm
EX-99.3 - ENTERGY CORP /DE/	a06011993.htm
EX-99.2 - ENTERGY CORP /DE/	a06011992.htm

Exhibit 99.1

For further information:

Paula Waters, VP, Investor Relations

Phone 504/576-4380, Fax 504/576-2897

pwater1@entergy.com

INVESTOR NEWS

November 1, 2011

ENTERGY REPORTS THIRD QUARTER EARNINGS

NEW ORLEANS – Entergy Corporation (NYSE: ETR) reported third quarter 2011 earnings of $3.53 per share on as-reported and operational bases, as shown in Table 1 below. A more detailed discussion of quarterly results begins on page 2 of this release.

Table 1: Consolidated Earnings – Reconciliation of GAAP to Non-GAAP Measures
Third Quarter and Year-to-Date 2011 vs. 2010
(Per share in U.S. $)
	Third Quarter			Year-to-Date
	2011	2010	Change	2011	2010	Change
As-Reported Earnings	3.53	2.62	0.91	6.67	5.38	1.29

Less Special Items	-	(0.14)	0.14	-	(0.40)	0.40

Operational Earnings	3.53	2.76	0.77	6.67	5.78	0.89

Weather Impact	0.29	0.29	-	0.57	0.55	0.02

Operational Earnings Highlights for Third Quarter 2011

·	Utility results were higher due primarily to a tax settlement that resulted in a significant decrease in income tax expense, which was partially offset by a regulatory charge to reflect the portion of the tax benefit that will be shared with Entergy Louisiana customers.

·	Entergy Wholesale Commodities earnings decreased as a result of lower net revenue, due primarily to lower pricing associated with the nuclear fleet, and a higher effective income tax rate.

·	Parent & Other results declined due primarily to higher income tax expense on Parent & Other activities.

“Legal and regulatory proceedings dominated the quarter. In September, the trial on our federal lawsuit to prevent the state of Vermont from forcing Vermont Yankee to close in March of next year, despite the fact that the NRC has extended the license, was completed. A ruling from the district court could be issued at any time. In New York, the hearing before administrative law judges of the New York State Department of Environmental Conservation is under way and expected to continue into 2012,” said J. Wayne Leonard, Entergy’s chairman and chief executive officer. “While we don’t expect final resolution – that is, appeals are always likely – for either of these issues in the immediate future, we are now moving out of the political arena and into the judicial system. Facts matter and we believe in our cases.

“The Utility also continues to make progress on key initiatives. The Arkansas Public Service Commission issued an order late last week in its proceeding on post-System Agreement transition for Entergy Arkansas. The order provides needed clarity, affirms that an RTO is the right answer, and opens the pathway for the other operating companies to move forward. We will submit a change of control filing in Arkansas to join MISO within the next 30 days.”

Entergy’s business highlights also include the following:

·	Entergy Gulf States Louisiana, Entergy Louisiana and Entergy New Orleans received orders resolving their 2010 test year formula rate plan filings.

·	Entergy Wholesale Commodities announced its agreement to acquire the Rhode Island State Energy Center, a 583 megawatt combined cycle gas turbine facility, including a planned 33 megawatt uprate, for $346 million.

·	Entergy was recognized for the 10th consecutive year as a leader in sustainability by the Dow Jones Sustainability Index. In addition, the Carbon Disclosure Project named Entergy to the Carbon Disclosure Leadership Index for the seventh time in eight years.

Entergy will host a teleconference to discuss this release at 10 a.m. CT on Tuesday, November 1, 2011, with access by telephone, (719) 457-2080, confirmation code 4650540. The call and presentation slides can also be accessed via Entergy’s website at www.entergy.com. A replay of the teleconference will be available through November 8, 2011, by dialing (719) 457-0820, confirmation code 4650540. The replay will also be available on Entergy’s website at www.entergy.com.

I.	Consolidated Results

Consolidated Earnings

Table 2 provides a comparative summary of consolidated earnings per share for third quarter and year-to-date 2011 versus 2010, including a reconciliation of GAAP as-reported earnings to non-GAAP operational earnings. The third quarter 2011 earnings improvement was due to higher earnings at Utility, partially offset by lower results at Entergy Wholesale Commodities and Parent & Other. Entergy’s results for the current period also reflect the positive effect of accretion associated with the company’s share repurchase programs. A detailed discussion of the factors driving quarterly results at each business segment follows.

Table 2: Consolidated Earnings – Reconciliation of GAAP to Non-GAAP Measures Third Quarter and Year-to-Date 2011 vs. 2010 (see Appendix D for definitions of certain measures)
(Per share in U.S. $)
	Third Quarter			Year-to-Date
	2011	2010	Change	2011	2010	Change
As-Reported
Utility	2.95	1.78	1.17	5.24	3.68	1.56
Entergy Wholesale Commodities	0.73	0.76	(0.03)	1.78	1.77	0.01
Parent & Other	(0.15)	0.08	(0.23)	(0.35)	(0.07)	(0.28)
Consolidated As-Reported Earnings	3.53	2.62	0.91	6.67	5.38	1.29

Less Special Items
Utility	-	-	-	-	-	-
Entergy Wholesale Commodities	-	(0.14)	0.14	-	(0.50)	0.50
Parent & Other	-	-	-	-	0.10	(0.10)
Consolidated Special Items	-	(0.14)	0.14	-	(0.40)	0.40

Operational
Utility	2.95	1.78	1.17	5.24	3.68	1.56
Entergy Wholesale Commodities	0.73	0.90	(0.17)	1.78	2.27	(0.49)
Parent & Other	(0.15)	0.08	(0.23)	(0.35)	(0.17)	(0.18)
Consolidated Operational Earnings	3.53	2.76	0.77	6.67	5.78	0.89
Weather Impact	0.29	0.29	-	0.57	0.55	0.02

Detailed earnings variance analysis is included in Appendix A-1 and Appendix A-2 to this release. In addition, Appendix A-3 provides details of special items shown in Table 2 above.

Consolidated Net Cash Flow Provided by Operating Activities

Entergy’s net cash flow provided by operating activities in third quarter 2011 was $1,153 million compared to $1,697 million in third quarter 2010. The overall quarterly decrease was due primarily to the absence of the receipt of $703 million from proceeds associated with storm-related debt issuances from the Louisiana Utilities Restoration Corporation for Entergy Louisiana and Entergy Gulf States Louisiana for hurricanes Gustav and Ike in third quarter of 2010. Partially offsetting this decrease was higher deferred fuel collections at the Utility. In addition, intercompany tax payments contributed to line of business variances, but were offsetting between Utility, Entergy Wholesale Commodities, and Parent & Other.

Table 3 provides the components of net cash flow provided by operating activities contributed by each business with quarterly and year-to-date comparisons.

Table 3: Consolidated Net Cash Flow Provided by Operating Activities
Third Quarter and Year-to-Date 2011 vs. 2010
(U.S. $ in millions)
	Third Quarter			Year-to-Date
	2011	2010	Change	2011	2010	Change
Utility	850	1,426	(576)	1,490	2,419	(929)
Entergy Wholesale Commodities	357	146	211	738	666	72
Parent & Other	(54)	125	(179)	(98)	80	(178)
Total Net Cash Flow Provided by Operating Activities	1,153	1,697	(544)	2,130	3,165	(1,035)

II.

Utility

In third quarter 2011, Utility as-reported and operational earnings were $2.95 per share compared to $1.78 per share on the same bases in third quarter 2010. Earnings in the current quarter reflect a tax settlement with the Internal Revenue Service entered into in August 2011 that resulted in a significant decrease in income tax expense. The majority of the income tax expense effect from the IRS settlement was recorded at the Utility; there was also some effect at the other business segments. Utility income tax expense was also lower in the current quarter due to the absence of the net effect of consolidated income tax adjustments across the Entergy companies in the third quarter of last year, which net to zero on a consolidated basis.

A portion of the Utility tax benefit from the IRS settlement will be shared with Entergy Louisiana customers, consistent with the settlement approved by the Louisiana Public Service Commission in October 2011. As a result, the decrease in Utility income tax expense was partially offset by a decrease in net revenue attributed to the regulatory charge recorded to reflect the customer sharing arrangement. Excluding the regulatory charge, net revenue was slightly lower than the prior year. Weather was significantly warmer than normal in the third quarter of both years. Also contributing to the higher earnings was lower non-fuel operation and maintenance expense due primarily to a reduction in compensation and benefit expenses. These benefits were partially offset by higher depreciation and amortization expense from higher depreciable plant balances.

Electricity usage, in gigawatt-hour sales by customer segment, is included in Table 4. Current quarter sales reflect the following:

·	Residential sales in third quarter 2011, on a weather-adjusted basis, increased 0.1 percent compared to third quarter 2010.

·	Commercial and governmental sales, on a weather-adjusted basis, increased 0.3 percent quarter over quarter.

·	Industrial sales in the third quarter increased 7.3 percent compared to the same quarter of 2010.

Overall retail sales growth, on a weather-adjusted basis, was 2.6 percent in the third quarter of this year driven by strong industrial sales. Entergy’s service territory continues to benefit from expansions. Entergy Louisiana, Entergy Texas, and Entergy Mississippi had the strongest industrial sales growth at 15.1 percent, 9.5 percent, and 3.1 percent, respectively.

Table 4 provides a comparative summary of Utility operational performance measures.

Table 4: Utility Operational Performance Measures (see Appendix D for definitions of measures)
Third Quarter and Year-to-Date 2011 vs. 2010

	Third Quarter				Year-to-Date
	2011	2010	% Change	% Weather Adjusted	2011	2010	% Change	% Weather Adjusted
GWh billed
Residential	12,376	12,365	0.1%	0.1%	29,411	29,715	(1.0)%	0.4%
Commercial and governmental	9,344	9,341	-%	0.3%	23,923	23,789	0.6%	-%
Industrial	11,024	10,276	7.3%	7.3%	30,681	28,871	6.3%	6.3%
Total Retail Sales	32,744	31,982	2.4%	2.6%	84,015	82,375	2.0%	2.4%
Wholesale	1,038	1,063	(2.4)%		3,021	3,351	(9.8)%
Total Sales	33,782	33,045	2.2%		87,036	85,726	1.5%
O&M expense per MWh	$14.93	$16.41	(9.0)%		$17.11	$17.54	(2.4)%
Number of retail customers
Residential					2,369,437	2,356,216	0.6%
Commercial and governmental					353,903	350,808	0.9%
Industrial					47,575	47,622	(0.1)%

Appendix B provides information on selected pending local and federal regulatory cases.

III.	Entergy Wholesale Commodities

Entergy Wholesale Commodities earned $0.73 per share on as-reported and operational bases in third quarter 2011, compared to as-reported earnings of $0.76 per share and operational earnings of $0.90 per share in third quarter 2010. Entergy Wholesale Commodities operational earnings declined partially as a result of lower net revenue driven by lower energy and capacity pricing on its nuclear fleet. The effect of lower pricing was partially offset by higher volume as a result of fewer refueling and unplanned nuclear outage days. A higher effective income tax rate also contributed to the Entergy Wholesale Commodities earnings decline. The higher income tax expense was due primarily to the absence of the net effect of consolidated income tax adjustments across the Entergy companies in the third quarter of last year, which net to zero on a consolidated basis. These items were partially offset by lower non-fuel operation and maintenance expense attributable primarily to lower compensation and benefit expenses and the absence of a write-off of capitalized engineering costs associated with a potential uprate project in the previous period.

Table 5 provides a comparative summary of Entergy Wholesale Commodities operational performance measures.

Table 5: Entergy Wholesale Commodities Operational Performance Measures
Third Quarter and Year-to-Date 2011 vs. 2010 (see Appendix D for definitions of measures)

	Third Quarter			Year-to-Date
	2011	2010	% Change	2011	2010	% Change
Owned Capacity	6,016	6,351	(5.3)%	6,016	6,351	(5.3)%
GWh billed	11,284	10,736	5.1%	32,455	32,362	0.3%
Average realized price per MWh	$55.87	$61.51	(9.2)%	$55.07	$59.32	(7.2)%
Non-fuel O&M expense / purchased power per MWh (a)	$25.32	$29.59	(14.4)%	$25.71	$26.77	(4.0)%

EWC Nuclear Fleet
Capacity factor	98%	91%	7.7%	93%	92%	1.1%
GWh billed	10,645	9,888	7.7%	30,551	30,011	1.8%
Average realized price per MWh	$56.07	$61.41	(8.7)%	$55.31	$59.27	(6.7)%
Production cost per MWh (a)	$24.92	$27.79	(10.3)%	$24.97	$25.28	(1.2)%
Refueling outage days:
FitzPatrick (b)	-	18		-	18
Indian Point 2	-	-		-	33
Indian Point 3	-	-		30	-
Palisades	-	-		-	-
Pilgrim	-	-		25	-
Vermont Yankee	-	-		-	29

(a)	Third quarter and year-to-date periods in 2010 exclude the effect of the special item for non-utility nuclear spin-off expenses.

(b)	Table reflects the duration of refueling outages that occurred through the third quarter; the FitzPatrick refueling outage continued for 17 days into the fourth quarter 2010.

Table 6 provides capacity and generation sold forward projections for Entergy Wholesale Commodities’ nuclear fleet.

Table 6: Entergy Wholesale Commodities Nuclear Capacity and Generation Projected Sold Forward
Fourth Quarter 2011 through 2016 (see Appendix D for definitions of measures)
	Balance of 2011	2012	2013	2014	2015	2016
Energy
Planned TWh of generation (c)	10	41	40	41	41	40
Percent of planned generation sold forward
Unit-contingent	80%	61%	38%	14%	12%	12%
Unit-contingent with availability guarantees	14%	14%	16%	13%	13%	13%
Firm LD	3%	24%	24%	8%	–%	–%
Offsetting positions	(3)%	(10)%	–%	–%	–%	–%
Total energy sold forward	94%	89%	78%	35%	25%	25%
Average revenue under contract per MWh (d) (e)	$52	$49	$45 - 51	$49 - 55	$49 - 57	$50 - 59

Capacity
Planned net MW in operation (c)	4,998	4,998	4,998	4,998	4,998	4,998
Percent of capacity sold forward
Bundled capacity and energy contracts	26%	18%	16%	16%	16%	16%
Capacity contracts	45%	32%	26%	25%	11%	–%
Total capacity sold forward	71%	50%	42%	41%	27%	16%
Average revenue under contract per kW per month (applies to capacity contracts only)	$1.8	$2.8	$3.2	$3.1	$2.9	$–

Blended Capacity and Energy Recap (based on revenues)
Percent of planned energy and capacity sold forward	95%	89%	76%	37%	26%	25%
Average revenue under contract per MWh (d) (e)	$53	$50	$49	$54	$55	$55

(c)

Assumes successful license renewal at all plants. NRC license renewal applications are in process for three units (with current license expirations noted parenthetically): Pilgrim (6/8/2012), Indian Point 2 (9/28/2013), and Indian Point 3 (12/12/2015). In addition, two Entergy subsidiaries filed a complaint in federal court seeking declaratory and injunctive relief to prevent the state of Vermont from forcing Vermont Yankee to cease operation on March 21, 2012.

(d)	A portion of EWC’s total planned generation sold forward through March 2012 is associated with the Vermont Yankee contract, for which pricing may be adjusted.

(e)

Average revenue under contract may fluctuate due to factors including positive or negative basis differentials, option premiums and market prices at time of option expiration, costs to convert Firm LD to unit-contingent and other risk management costs. Also, average revenue under contract excludes payments owed under the value sharing agreement with the New York Power Authority.

IV.	Parent & Other

Parent & Other reported a loss of $(0.15) per share on as-reported and operational bases in third quarter 2011, compared to earnings of $0.08 per share on the same bases in the third quarter of last year. Higher income tax expense on Parent & Other activities was the primary factor driving results for the quarter. Income tax expense was higher due to the absence of a reversal of an income tax reserve recorded in the third quarter of last year. The absence of the net effect of consolidated income tax adjustments also contributed.

V.	2011 Earnings Guidance

As a result of the Internal Revenue Service and LPSC settlements discussed above, Entergy revised its 2011 as-reported and operational earnings guidance to a range of $7.15 to $7.65 per share. Entergy’s previous guidance range was $6.35 to $6.85 per share on both as-reported and operational bases. The midpoint of Entergy’s 2011 earnings guidance is adjusted only to reflect the year-to-date income tax expense adjustments above the level assumed in the original guidance, including the IRS settlement agreement, net of amount to be shared with Entergy Louisiana customers. Year-over-year changes are shown as point estimates and are applied to 2010 earnings to compute the 2011 guidance midpoint. Drivers for the 2011 guidance range are listed separately. Because there is a range of possible outcomes associated with each earnings driver, a range is applied to the guidance midpoint to produce Entergy’s guidance range. The 2011 earnings guidance is detailed in Table 7 below.

Table 7: 2011 Earnings Per Share Guidance – As-Reported and Operational
(Per share in U.S. $) – Revised October 2011 (f)
Segment	Description of Drivers	2010 Earnings per Share	Expected Change	2011 Guidance Midpoint	2011 Guidance Range

Utility	2010 Operational Earnings per Share	4.33
	Adjustment to normalize weather		(0.62)
	Increased net revenue due to sales growth and rate actions		0.45
	Decreased non-fuel operation and maintenance expense		0.20
	Increased depreciation expense		(0.10)
	Increased other income		0.10
	Lower effective income tax rate		0.15
	Accretion / other		0.19
	Subtotal	4.33	0.37	4.70

Entergy Wholesale Commodities	2010 Operational Earnings per Share	3.13
	Decreased net revenue from nuclear assets due to lower pricing net of higher volume		(0.35)
	Flat non-fuel operation and maintenance expense for nuclear operations		–
	Increased depreciation expense on nuclear assets		(0.05)
	Higher effective income tax rate		(0.10)
	Accretion / other		(0.03)
	Subtotal	3.13	(0.53)	2.60

Parent & Other	2010 Operational Earnings per Share	(0.36)
	Increased Parent non-fuel operation and maintenance expense		(0.10)
	Increased Parent interest expense		(0.10)
	Increased preferred dividend requirements		(0.10)
	Accretion / other		(0.04)
	Subtotal	(0.36)	(0.34)	(0.70)

Consolidated Operational	2011 Operational Earnings per Share Guidance Range	7.10	(0.50)	6.60	6.35 – 6.85

	Year-to-date income tax expense adjustments above level assumed in original guidance (including the IRS settlement agreement), net of amount to be shared with ELL customers		0.80

	Revised 2011 Operational Earnings per Share Guidance Range	7.10	0.30	7.40	7.15 – 7.65


Consolidated As-Reported	2010 As-Reported Earnings per Share	6.66
	Changes detailed above		0.30
	2010 special items for non-utility nuclear spin-off expenses		0.44
	Revised 2011 As-Reported Earnings per Share Guidance Range	6.66	0.74	7.40	7.15 – 7.65

(f)	Originally prepared October 2010 and updated February 2011 to reflect 2010 final results. Updated October 2011 to include IRS and LPSC settlements.

Key assumptions supporting 2011 earnings guidance are as follows:

Utility

·	Normal weather

·	Retail sales growth of around 2 percent on a weather-adjusted basis; around 1 percent on a normalized basis excluding the effects of industrial expansion and cogen loss

·	Increased revenue associated with rate actions

·	Decreased non-fuel operation and maintenance expense resulting largely from lower compensation and benefits costs (including lower expense associated with employee stock options, which is offset in Parent & Other)

·	Increased depreciation expense associated with capital spending at the Utility, partially offset by new depreciation rates established in the Entergy Arkansas rate case effective July 2010

·	Increased other income largely due to affiliate dividend income arising out of the use of proceeds from storm cost financings in Louisiana, offset at Parent & Other

·	Lower effective income tax rate in 2011

·	Accretion / other primarily driven by the effect of 2010 share repurchases

Entergy Wholesale Commodities

·	41 TWh of total output for the EWC nuclear fleet, reflecting an approximate 93 percent capacity factor, including 30 day refueling outages at Pilgrim and Indian Point 3 in Spring 2011 and Vermont Yankee in Fall 2011

·	95 percent of energy sold under existing contracts and 5 percent sold into the spot market for the EWC nuclear fleet

·	$53/MWh average energy contract price and $40/MWh average unsold energy price based on published market prices at the end of September 2010 for the EWC nuclear fleet; average energy price for unsold volume based on prices as of the end of September 2011 is around $45/MWh

$3.0/kW-month average capacity contract price and $1.2/kW-month average unsold capacity price based on published market prices at the end of September 2010 for the EWC nuclear fleet; average capacity price for unsold volume based on prices as of the end of September 2011 is approximately $0.3/kW-month

·	Increased nuclear fuel expense reflected in net revenue

Non-fuel operation and maintenance expense for nuclear operations, including refueling outage expense and purchased power, around $25/MWh reflecting slightly higher compensation and benefits costs due in part to a long-term workforce planning initiative and other general expense increases, offset by the absence of spending associated with remediation of the tritium leak at Vermont Yankee and the write-off of capitalized engineering costs associated with a potential uprate project in 2010

·	Increased depreciation expense on nuclear assets associated with capital spending

·	Higher effective income tax rate in 2011

·	Flat year-over-year results for the balance of EWC’s business, consisting primarily of the non-nuclear generation portfolio

·	Accretion / other including the effect of 2010 share repurchases

Parent & Other

·	Increased Parent non-fuel operation and maintenance expense due primarily to the offset of lower intercompany employee stock option expense at Utility

·	Higher Parent interest expense due to $1 billion permanent debt issued in September 2010, with proceeds used to pay down lower-cost revolving credit facility

·	Increased preferred dividend requirements largely due to affiliate dividend income at Utility described above

·	Accretion / other includes the effect of 2010 share repurchases and lower effective income tax rate in 2011

Share Repurchase Program

·	2011 average fully diluted shares outstanding of approximately 180 million, assuming completion of the $750 million repurchase program in 2010; does not assume any repurchases under the incremental $500 million share repurchase authority approved by the Board of Directors in October 2010

Other

·	Overall effective income tax rate of 35 percent in 2011

·	Pension discount rate of 6.1 percent (the final pension discount rate is 5.6 – 5.7 percent)

Revised 2011 Guidance Range

A tax settlement with the Internal Revenue Service resulted in a significant decrease in income tax expense. The majority of the income tax expense effect from the settlement was recorded at Utility; there was also some effect at Entergy Wholesale Commodities and Parent & Other. A portion of the Utility tax benefit will be shared with Entergy Louisiana customers, consistent with the settlement approved by the Louisiana Public Service Commission in October 2011. The net benefit is shown net of income tax expense amounts that were included in the original 2011 Guidance assumptions.

Earnings guidance for 2011 should be considered in association with earnings sensitivities as shown in Table 8. These sensitivities illustrate the estimated change in operational earnings resulting from changes in various revenue and expense drivers. Traditionally, the most significant variables for earnings drivers are utility sales for Utility and energy prices for Entergy Wholesale Commodities. Estimated annual impacts shown in Table 8 are intended to be indicative rather than precise guidance.

Table 8: 2011 Earnings Sensitivities
(Per share in U.S. $) – Prepared October 2010
Variable	2011 Guidance Assumption	Description of Change	Estimated Annual Impact (g)
Utility
Sales growth Residential Commercial / Governmental Industrial	Around 2% total sales growth on a weather-adjusted basis	1% change in Residential MWh sold 1% change in Comm / Govt MWh sold 1% change in Industrial MWh sold	- / + 0.05 - / + 0.04 - / + 0.02
Rate base	Growing rate base	$100 million change in rate base	- / + 0.03
Return on equity	Authorized regulatory ROEs	1% change in allowed ROE	- / + 0.34
Entergy Wholesale Commodities (Based on EWC nuclear portfolio)
Capacity factor	93% capacity factor	1% change in capacity factor	- / + 0.07
Energy revenues	95% energy sold at $53/MWh and 5% energy unsold at $40/MWh	$10/MWh market price change	- / + 0.07
Non-fuel operation and maintenance expense	$25/MWh non-fuel operation and maintenance expense/purchased power	$1/MWh change	+ / - 0.14
Outage (lost revenue only)	93% capacity factor, including refueling outages for three northeast units	1,000 MW plant for 10 days at average portfolio energy price of $53/MWh for sold and $40/MWh for unsold volumes in 2011	- 0.04 / n/a

(g) Based on 2010 average fully diluted shares outstanding of approximately 188 million.

VI.	Appendices

Five appendices are presented in this section as follows:

·	Appendix A includes earnings per share variance analysis and detail on special items that relate to the current quarter and year-to-date results.

·	Appendix B provides information on selected pending local and federal regulatory cases.

·	Appendix C provides financial metrics for both current and historical periods. In addition, historical financial and operating performance metrics are included for the trailing eight quarters.

·	Appendix D provides definitions of the operational performance measures and GAAP and non-GAAP financial measures that are used in this release.

·	Appendix E provides a reconciliation of GAAP to non-GAAP financial measures used in this release.

A.	Variance Analysis and Special Items

Appendix A-1 and Appendix A-2 provide details of third quarter and year-to-date 2011 vs. 2010 as-reported and operational earnings variance analysis for Utility, Entergy Wholesale Commodities, Parent & Other, and Consolidated.

Appendix A-1: As-Reported and Operational Earnings Per Share Variance Analysis
Third Quarter 2011 vs. 2010
(Per share in U.S. $, sorted in consolidated operational column, most to least favorable)
	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated
	As-Reported	Opera- tional		As-Reported	Opera-tional		As- Reported	Opera-tional		As- Reported	Opera-tional
2010 earnings	1.78	1.78		0.76	0.90		0.08	0.08		2.62	2.76
Income taxes – other	2.03	2.03	(h)	(0.14)	(0.14)	(i)	(0.21)	(0.21)	(j)	1.68	1.68
Share repurchase effect	0.16	0.16	(k)	0.04	0.04		(0.01)	(0.01)		0.19	0.19
Other operation and maintenance exp.	0.12	0.12	(l)	0.23	0.09	(m)	(0.03)	(0.03)		0.32	0.18
Other income (deductions) - other	-	-		(0.02)	(0.02)		0.03	0.03		0.01	0.01
Interest exp. and other charges	0.02	0.02		-	-		(0.02)	(0.02)		-	-
Decommissioning exp.	-	-		(0.01)	(0.01)		-	-		(0.01)	(0.01)
Taxes other than income taxes	(0.03)	(0.03)		(0.01)	(0.01)		-	-		(0.04)	(0.04)
Depreciation / amortization exp.	(0.05)	(0.05)	(n)	(0.01)	(0.01)		-	-		(0.06)	(0.06)
Net revenue	(1.08)	(1.08)	(o)	(0.11)	(0.11)	(p)	0.01	0.01		(1.18)	(1.18)
2011 earnings	2.95	2.95		0.73	0.73		(0.15)	(0.15)		3.53	3.53

Appendix A-2: As-Reported and Operational Earnings Per Share Variance Analysis
Year-to-Date Third Quarter 2011 vs. 2010
(Per share in U.S. $, sorted in consolidated operational column, most to least favorable)
	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated
	As-Reported	Opera- tional		As-Reported	Opera-tional		As- Reported	Opera-tional		As- Reported	Opera-tional
2010 earnings	3.68	3.68		1.77	2.27		(0.07)	(0.17)		5.38	5.78
Income taxes – other	2.06	2.06	(h)	(0.12)	(0.12)	(i)	(0.09)	0.01	(j)	1.85	1.95
Share repurchase effect	0.31	0.31	(k)	0.10	0.10	(k)	(0.02)	(0.02)		0.39	0.39
Other operation and maintenance exp.	0.04	0.04		0.46	0.11	(m)	(0.06)	(0.06)	(q)	0.44	0.09
Interest exp. and other charges	0.11	0.11	(r)	0.17	0.03	(s)	(0.10)	(0.10)	(t)	0.18	0.04
Nuclear refueling outage expense	0.01	0.01		(0.01)	(0.01)		-	-		-	-
Taxes other than income taxes	(0.02)	(0.02)		-	-		-	-		(0.02)	(0.02)
Decommissioning exp.	(0.01)	(0.01)		(0.02)	(0.02)		-	-		(0.03)	(0.03)
Other income (deductions) – other	0.07	0.07	(u)	(0.12)	(0.12)	(v)	(0.02)	(0.02)		(0.07)	(0.07)
Depreciation / amortization exp.	(0.04)	(0.04)		(0.04)	(0.05)	(w)	-	-		(0.08)	(0.09)
Net revenue	(0.97)	(0.97)	(o)	(0.41)	(0.41)	(p)	0.01	0.01		(1.37)	(1.37)
2011 earnings	5.24	5.24		1.78	1.78		(0.35)	(0.35)		6.67	6.67

(h)

The current quarter and year-to-date increase is due primarily to an IRS tax settlement executed in the current quarter; the absence of unfavorable consolidated income tax adjustments recorded in the prior year also contributed to the quarterly and year-to-date increase. These increases were partially offset by the absence of a Louisiana state income tax benefit related to Act 55 storm cost financing recognized in the third quarter of last year.

(i)

The decrease in the current quarter and year-to-date is due primarily to the absence of favorable consolidated income tax adjustments as well as the absence of the reversal of an income tax reserve related to a restructuring of the Entergy Nuclear Power Marketing business, both recorded in the third quarter of the prior year. Partially offsetting was favorable income tax adjustments associated with the IRS settlement noted in (h) above.

(j)

The current quarter decrease is due primarily to the absence of a prior year favorable Tax Court ruling addressing a foreign tax credit computation allowing the reversal of a previously-established tax reserve on the issue. Also contributing was the absence of the favorable effect of consolidated income tax adjustments in the third quarter 2010. Partially offsetting was favorable income tax adjustments associated with the IRS settlement noted in (h) above, as well as the absence of decreases in valuation allowances on loss carryovers reflected in the prior year-to-date period. The as-reported year-to-date decrease also reflects the absence of income tax benefits recorded in connection with the non-utility nuclear spin off unwind in 2010.

(k)	The increase reflects accretion from Entergy’s share repurchase programs.

(l)

The increase in the current quarter is due primarily to lower compensation and benefit expenses and a deferral of previously-expensed outage costs pursuant to an Entergy New Orleans regulatory agreement; the absence of amortization of rate case expenses at Entergy Texas recorded in the prior year also contributed.

(m)

The current quarter and year-to-date increase is due primarily to lower compensation and benefit expenses and the absence of a write off of capitalized engineering costs associated with a potential uprate project recorded in the prior year. The absence of operation and maintenance expense from the Harrison County plant, which was sold in the fourth quarter of 2010, also contributed. The absence of non-utility nuclear spin-off expenses contributed to the as-reported increase.

(n)	The decrease in the current quarter reflects higher depreciable plant balances.

Utility Net Revenue Variance Analysis 2011 vs. 2010 ($ EPS)
Third Quarter		Year-to-Date
Weather	-	Weather	0.02
Sales growth / pricing	(0.01)	Sales growth / pricing	0.15
Regulatory agreement	(1.06)	Regulatory agreement	(1.05)
Other	(0.01)	Other	(0.09)
Total	(1.08)	Total	(0.97)

(o)

The decrease in the current quarter and year-to-date is due primarily to a regulatory charge resulting from a settlement approved by the Louisiana Public Service Commission to share a portion of tax benefits from a settlement with the IRS with Entergy Louisiana customers. The year-to-date variance also reflects higher sales growth including the effects of weather, as well as the net effect of pricing adjustments resulting from rate actions in Arkansas, Louisiana, New Orleans, and Texas. For the current quarter, increases from higher weather-adjusted sales volume and regulatory actions were offset by lower unbilled revenues due to milder weather in the unbilled sales period at the end of the quarter.

(p)

The current quarter and year-to-date decrease is due primarily to lower energy and capacity pricing on the EWC nuclear fleet. The absence of net revenue from the Harrison County plant, which was sold in the fourth quarter of last year, also contributed to the decrease. The decrease in both periods is partially offset by higher nuclear volume.

(q)	The year-to-date decrease is due primarily to the offset of lower intercompany employee stock option expense at Utility.

(r)

The increase in the year-to-date period is due primarily to favorable debt refinancing and the absence of interest recorded on a fuel audit refund in the third quarter of 2010; a revision in the treatment of funds received for transmission interconnection projects, accepted by the Federal Energy Regulatory Commission, also contributed to the increase.

(s)	The as-reported year-to-date increase is due to the absence of the first quarter 2010 charge for the balance of fees recorded in connection with the non-utility nuclear spin off unwind.

(t)	The decrease year-to-date is due primarily to higher interest rates on $1 billion of Parent notes issued in September 2010; elimination of lower affiliated interest expense also contributed.

(u)	The year-to-date increase is due to higher affiliate dividend income with Parent & Other arising out of the use of proceeds from Louisiana storm cost financings, partially offset by the absence of storm-related carrying charges recorded in 2010.

(v)	The year-to-date decrease is due primarily to lower affiliate interest income (offset at Parent & Other) and lower realized gains on decommissioning trust investments.

(w)	The decrease year-to-date reflects higher depreciable plant balances.

Appendix A-3 lists special items by business with quarter-to-quarter and year-to-date comparisons. Amounts are shown on both earnings per share and net income bases. Special items are those events that are not routine, are related to prior periods, or are related to discontinued businesses. Special items are included in as-reported earnings per share consistent with generally accepted accounting principles (GAAP), but are excluded from operational earnings per share. As a result, operational earnings per share is considered a non-GAAP measure.

Appendix A-3: Special Items (shown as positive / (negative) impact on earnings)
Third Quarter and Year-to-Date 2011 vs. 2010
(Per share in U.S. $)
	Third Quarter			Year-to-Date
	2011	2010	Change	2011	2010	Change
Utility
None	-	-	-	-	-	-

Entergy Wholesale Commodities
Non-utility nuclear spin-off expenses (x)	-	(0.14)	0.14	-	(0.50)	0.50

Parent & Other
Non-utility nuclear spin-off expenses (x)	-	-	-	-	0.10	(0.10)
Total Special Items	-	(0.14)	0.14	-	(0.40)	0.40

(U.S. $ in millions)
	Third Quarter			Year-to-Date
	2011	2010	Change	2011	2010	Change
Utility
None	-	-	-	-	-	-

Entergy Wholesale Commodities
Non-utility nuclear spin-off expenses (x)	-	(25.2)	25.2	-	(94.0)	94.0

Parent & Other
Non-utility nuclear spin-off expenses (x)	-	-	-	-	18.5	(18.5)
Total Special Items	-	(25.2)	25.2	-	(75.5)	75.5

(x)	Includes non-utility nuclear spin-off expenses for outside services to pursue the previously planned spin-off and the charge in connection with the business unwind decision in 2010.

B.	Regulatory Summary

Appendix B provides a summary of selected regulatory cases and events that are pending.

Appendix B: Regulatory Summary Table
Company	Pending Cases / Events
Retail Regulation
Entergy Arkansas Authorized ROE: 10.2% Last Filed Rate Base: $4.0 billion filed 6/10 based on 6/30/09 test yr, with known and measurable changes through 6/30/10	Rate Case Recent Activity: None. Background: EAI implemented a $63.7 million rate increase in the first billing cycle of July 2010 pursuant to the settlement approved by the Arkansas Public Service Commission (APSC) in June 2010, which authorized a 10.2 percent allowed return on equity (ROE).
	System Agreement / RTO Investigation Docket Recent Activity: An evidentiary hearing took place September 7-9, 2011 regarding EAI’s post-system agreement transition plan. On October 28, 2011, the APSC issued an order finding that EAI joining a Regional Transmission Organization (RTO) is prudent. The APSC did not make a determination on the question of which RTO is in the best interest of EAI and its ratepayers – the Midwest Independent System Operator (MISO) option or the Southwest Power Pool (SPP) RTO option. Instead, the APSC deferred any determination on EAI’s proposal to join MISO until EAI files an application to transfer operational control of its transmission facilities to MISO. EAI expects to submit the change of control filing in 30 days from the APSC order. Federal Energy Regulatory Commission (FERC) filings to establish the zonal rate under the Midwest Independent System Operator (MISO) Open Access Transmission Tariff are targeted for late 2012 or early 2013. Background: On February 11, 2010, the APSC issued a Show Cause order opening an inquiry into EAI’s transition plans for post-system agreement operation. On April 25, 2011, Entergy announced that, after comprehensive review and analysis, the company concluded that joining MISO will provide meaningful long-term benefits for the customers of the Entergy operating companies. On May 12, 2011, EAI filed “An Evaluation of the Alternative Transmission Arrangements Available to the Entergy Operating Companies and Support for Proposal to Join MISO.” The target implementation date for joining MISO is December 2013, concurrent with EAI’s exit of the system agreement. Two contingency plans for post-system agreement readiness were also presented reflecting EAI-only joining MISO and EAI operating as a standalone balancing authority within the Independent Coordinator of Transmission (ICT) arrangement.
	Hot Spring Acquisition Recent Activity: On August 31, 2011, EAI and KGen filed an application seeking FERC approval of the Hot Spring acquisition under Section 203 of the Federal Power Act. On October 28, 2011, the APSC Staff and Arkansas Attorney General filed testimony in the APSC proceeding. The Staff generally supports the acquisition and recovery of capacity costs through a capacity acquisition rider, and recommends that the return on equity in the rider be set at 9.7 percent. The Attorney General also supports recovery through the proposed rider mechanism and recommends that, if the APSC approves the acquisition, it should retain jurisdiction to determine the reasonableness of any transmission costs identified in the future study. EAI will file rebuttal testimony in November 2011 and the matter is set for hearing in January 2012. Background: On April 29, 2011, EAI announced that it signed an asset purchase agreement to acquire the Hot Spring Energy Facility, a 620 MW natural gas-fired combined-cycle turbine plant located in Hot Spring County, Arkansas, from KGen Hot Spring LLC, a subsidiary of KGen Power Corporation. The total expected cost is $277 million (or $447/kW) including the purchase price of approximately $253 million (or $408/kW) and planned plant upgrades, transaction costs, and contingencies and excluding transmission upgrades. A new transmission service request has been submitted to determine if investment for supplemental upgrades to Entergy’s transmission system is needed to make this plant deliverable to EAI after it exits the System Agreement. On July 15, 2011, EAI filed an application with the APSC seeking approval of the Hot Spring acquisition and rider recovery concurrent with closing of the acquisition. On July 21, 2011, the transaction was reported to the U.S. Department of Justice and the Federal Trade Commission to satisfy the requirements of the Hart-Scott-Rodino Antitrust Improvements Act. Assuming timely regulatory approvals and the satisfaction of all other closing conditions, closing is expected to occur in mid-2012.
Entergy Gulf States Louisiana Authorized ROE Range: 9.9% - 11.4% (electric) 10.0% - 11.0% (gas) Last Filed Rate Base: $2.4 billion (electric) filed 5/11 based on 12/31/10 test yr $0.05 billion (gas) filed 4/11 based on 9/30/10 test yr	Formula Rate Plan Recent Activity: At its October 12, 2011 Business and Executive (B&E) session, the Louisiana Public Service Commission (LPSC) accepted the joint EGSL / LPSC Staff report reflecting resolution of the 2010 test year formula rate plan (FRP) filing. The filing reflected an 11.11 percent earned ROE which was within the earnings bandwidth resulting in no cost of service rate change. The filing also reflected a $22.8 million decrease outside of the FRP sharing mechanism for capacity costs. On September 6, 2011, EGSL filed a motion seeking a one year extension of its current FRP; the LPSC is expected to consider the matter at its November 9, 2011 B&E session. Background: At its October 2009 B&E session, the LPSC approved an uncontested settlement which, among other things, extended the FRP regulatory process for an additional three years. The new FRP was adopted for the 2008-2010 test years and retained the 10.65 percent ROE midpoint with a +/- 75 basis point bandwidth and a recovery mechanism for Commission-approved capacity additions. Earnings outside the bandwidth are allocated prospectively, 60 percent to customers and 40 percent to the company. As part of the settlement, all parties also committed to work together to attempt to develop a transmission rider for EGSL. In response to a depreciation rate complaint filed at FERC by the LPSC, EGSL presented in its 2009 test year FRP filing two ancillary FRP filing proposals based on a new depreciation study that increased depreciation rates and related FRP revenues by either $45.3 million (assuming a 40 year River Bend life) or $24.4 million (60 year life). The depreciation matter raised by the ancillary filing and the transmission rider remain outstanding.

Appendix B: Regulatory Summary Table (continued)
Company	Pending Cases / Events
Retail Regulation
Entergy Louisiana Authorized ROE Range: 9.45% - 11.05% Last Filed Rate Base: $3.2 billion filed 5/11 based on 12/31/10 test yr	Formula Rate Plan Recent Activity: At its October 12, 2011 B&E session, the LPSC accepted the joint ELL / LPSC Staff report reflecting resolution of the 2010 test year FRP filing. The filing reflected an 11.08 percent earned ROE which was within the earnings bandwidth resulting in no cost of service rate change. Capacity costs were essentially unchanged. On September 6, 2011, ELL filed a motion seeking a one year extension of its current FRP; the LPSC is expected to consider the matter at its November 9, 2011 B&E session. Background: At its October 2009 B&E session, the LPSC approved an uncontested settlement which, among other things, extended the FRP regulatory process for an additional three years. The new FRP was adopted for the 2008-2010 test years and retained the 10.25 percent ROE midpoint with a +/- 80 basis point bandwidth and a recovery mechanism for Commission-approved capacity additions. Earnings outside the bandwidth are allocated prospectively, 60 percent to customers and 40 percent to the company. As part of the settlement, all parties also committed to work together to attempt to develop a transmission rider for ELL. In response to a depreciation rate complaint filed at FERC by the LPSC, ELL presented in its 2009 test year FRP filing two ancillary FRP filing proposals based on a new depreciation study that increased depreciation rates and related FRP revenues by either $96.4 million (assuming a 40 year Waterford 3 life) or $40.5 million (60 year life). The depreciation matter raised by the ancillary filing and the transmission rider remain outstanding.
	Little Gypsy Repowering Recent Activity: On August 10, 2011, the LPSC approved securitization of costs related to the cancelled Little Gypsy 3 repowering project. On September 22, 2011, $207,156,000 of Investment Recovery Bonds were issued for Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by ELL. The bonds reflected an average life of 5.27 years and a coupon rate of 2.04 percent.
	Waterford 3 Steam Generator Replacement Recent Activity: On July 29, 2011, ELL filed its Quarterly Monitoring Report indicating that the Waterford 3 replacement steam generator (RSG) project continues to meet revised cost estimates and the revised schedule for installation in Fall 2012. In addition, ELL formally reported its Spring 2011 inspection findings to the Nuclear Regulatory Commission. As part of ELL’s request to extend its FRP by one year, ELL requested that it be permitted to include RSG costs, subject to refund and a subsequent prudence review, in rates as part of ELL’s 2011 test year FRP filing. ELL expects to resume the revenue requirement proceeding late in 2011 or early in 2012, provided that its FRP is extended. Background: On June 26, 2008, ELL petitioned the LPSC to replace two steam generators, the reactor vessel closure head, and control drive mechanisms. On November 12, 2008, the LPSC approved the stipulated settlement, finding that the decision to undertake this project at an estimated cost of $511 million was prudent and the timing concurrent with the 2011 outage was reasonable. Prudent costs are eligible for recovery through ELL’s formula rate plan, if extended, or a base rate case filing. ELL agreed to undertake a future prudence review to consider at least project management, cost controls, success in achieving stated objectives, project replacement cost, and outage length / replacement power costs. On December 17, 2010, ELL notified the LPSC that Westinghouse advised that the Waterford 3 RSGs would not be completed and delivered in time to maintain the then current project schedule for installation during the Spring 2011 refueling outage. On June 15, 2011, ELL filed a Special Monitoring Report to reflect the updated cost and schedule associated with the project. The installation schedule was revised from the Spring 2011 refueling outage to the Fall 2012 refueling outage. Additional funding of approximately $176 million is required, bringing the revised replacement project total to approximately $687 million. Extensive inspections of the steam generators during the Spring 2011 refueling outage confirmed that Waterford 3 can operate safely for another full cycle before the replacement of the steam generator.
	Ninemile 6 Certification Recent Activity: The project air permit was issued by the Louisiana Department of Environmental Quality on August 16, 2011. On August 18, 2011, an LPSC procedural schedule was established setting the matter for hearing in late February 2012. Assuming regulatory approvals are obtained, the targeted date to issue full notice to proceed with construction of the Ninemile 6 project is in May 2012. Background: The Ninemile 6 project is a proposed 550 MW combined-cycle gas turbine facility with commercial operation anticipated by the summer of 2015. The resource has been allocated 55 percent to ELL, 25 percent to EGSL, and 20 percent to ENOI. On June 21, 2011, ELL filed an application with the LPSC seeking approval to construct the Ninemile 6 CCGT and for EGSL to purchase up to 35 percent of the capacity and energy under a life-of-unit power purchase agreement. As reflected in the filing, the current estimated construction cost is approximately $721 million. ENOI submitted an application to the City Council of New Orleans (CCNO) on July 8, 2011 seeking approval of its participation in the Ninemile 6 project through a life-of-unit power purchase agreement of capacity and energy. If CCNO does not approve the power purchase agreement in a timely manner then ELL and EGSL propose an allocation of 65 percent to ELL and 35 percent to EGSL.

Appendix B: Regulatory Summary Table (continued)
Company	Pending Cases / Events
Retail Regulation
Entergy Mississippi Authorized ROE Range: 10.54% - 12.72% (per FRP filing) Last Filed Rate Base: $1.6 billion filed 3/11 based on 12/31/10 test yr	Formula Rate Plan Recent Activity: None. The 2010 FRP test year filing remains pending before the Mississippi Public Service Commission (MPSC). Background: On March 4, 2010, the MPSC approved modifications to EMI’s FRP that (1) aligned EMI’s FRP more closely with the FRPs of the other regulated gas and electric utilities in Mississippi; (2) provided the opportunity to reset the ROE and bandwidth based upon performance ratings; (3) rescored the performance adjustment factors; (4) increased the percent of revenues limit to a 4 percent limit, with any adjustment over 2 percent requiring a hearing; and (5) directed EMI to phase-out the summer / winter rate differential in residential rates over two years. On March 15, 2011, EMI filed its second evaluation report under its new FRP for the 2010 test year. The filing reflected a 10.65 percent earned ROE which was within the bandwidth resulting in no change in rates. The calculated 11.63 percent FRP midpoint ROE includes the benefit of a 0.79 percent performance incentive. On June 23, 2011, EMI filed a Depreciation Study, requesting that new rates become effective with the next base rate change.
	Hinds Acquisition Recent Activity: On August 31, 2011, EMI and KGen filed an application seeking FERC approval of the Hinds acquisition under Section 203 of the Federal Power Act. Background: On April 29, 2011, EMI announced that it signed an asset purchase agreement to acquire the Hinds Energy Facility, a 450 MW (summer rating) natural gas-fired combined-cycle turbine plant located in Jackson, Mississippi, from KGen Hinds, LLC, a subsidiary of KGen Power Corporation. The total expected cost is $246 million (or $547/kW) including the purchase price of approximately $206 million (or $458/kW) and planned plant upgrades, transaction costs, and contingencies and excluding transmission upgrades. A new transmission service request has been submitted to determine if investment for supplemental upgrades to Entergy’s transmission system is needed to make this plant deliverable to EMI after it exits the System Agreement. On July 15, 2011, EMI filed an application with the MPSC seeking certification of the Hinds acquisition and rider recovery concurrent with closing of the acquisition. On July 21, 2011, the transaction was reported to the U.S. Department of Justice and the Federal Trade Commission to satisfy the requirements of the Hart-Scott-Rodino Antitrust Improvements Act. Assuming timely regulatory approvals and the satisfaction of all other closing conditions, closing is expected to occur in mid-2012.
Entergy New Orleans Authorized ROE Range: 10.7% - 11.5% (electric) 10.25% - 11.25% (gas) Last Filed Rate Base: $0.3 billion (electric), $0.09 billion (gas) filed 5/11 based on 12/31/10 test yr	Formula Rate Plan Recent Activity: On September 22, 2011, the City Council of New Orleans (CCNO) approved the Agreement in Principle reached between ENOI and the CCNO Advisors resolving ENOI’s 2010 test year FRP. The agreement decreased electric rates by approximately $13.1 million and gas rates by approximately $1.6 million effective October 2011. In addition, the agreement permits ENOI to recover $2.5 million of system agreement-related costs through ENOI’s Fuel Adjustment’s over / under collection mechanism. The CCNO Advisors recommended that ENOI’s request to increase the electric and gas storm reserve rider in order to meet the original target of $75 million in the storm fund by the year 2017 be considered separately. Background: A new three year FRP beginning with the 2009 test year was adopted in ENOI’s rate case settled in April 2009. Key provisions include an 11.1 percent electric ROE with a +/- 40 basis points bandwidth and a 10.75 percent gas ROE with a +/- 50 basis points bandwidth. Earnings outside the bandwidth reset to the midpoint ROE, with rates changing on a prospective basis depending on whether ENOI is over or under-earning. The FRP also includes a recovery mechanism for Council-approved capacity additions plus provisions for extraordinary cost changes and force majeure. The FRP may be extended by the mutual agreement of ENOI and CCNO. The settlement also implemented energy conservation and demand side management programs.
Entergy Texas Authorized ROE: 10.125% Last Filed Rate Base: $1.6 billion filed 12/09 based on 6/30/09 adjusted test yr	Rate Case Recent Activity: In late October 2011, ETI provided notice of its intent to file a general rate case later in 2011. Background: ETI implemented a $17.5 million interim rate increase beginning on May 1, 2010, pursuant to a February 2010 unanimous settlement on interim rates, and the balance of the total $59 million base rate increase for usage on and after August 15, 2010, pursuant to its August 2010 stipulation and settlement agreement approved by the Public Utility Commission of Texas (PUCT) in December 2010. Other key elements of the stipulation and settlement agreement included an additional $9 million rate increase implemented for bills rendered on and after May 2, 2011 and a 10.125 percent allowed ROE.
	Other Regulatory Activity: On September 15, 2011, the PUCT adopted the proposed rule implementing a Distribution Cost Recovery Factor (DCRF) to recover capital and capital-related costs related to distribution infrastructure. The DCRF permits utilities to implement an increase in rates once per year to reflect depreciation expense, federal income tax and other taxes, and return above amounts reflected in base rates. The DCRF rider may be changed a maximum of four times between base rate cases, and expires in January 2017, unless otherwise extended by the Texas Legislature. No action has been taken by the PUCT on a purchased power capacity rider. On September 29, 2011, the PUCT denied a motion seeking rejection of the competitive generation service (CGS) tariff proposal and directed the parties to submit a report identifying agreed and open issues. Background: On March 10, 2011, the PUCT opened a rulemaking to review recovery of purchased power capacity costs. The parties provided comments in June 2011 and the PUCT Staff subsequently held a technical conference. The CGS tariff was proposed by ETI as required in state legislation initially enacted in 2005 and modified in 2009. Parties have been negotiating a settlement of the CGS tariff proposal since it was severed from ETI’s last rate case proceeding in December 2010.

Appendix B: Regulatory Summary Table (continued)
Company	Pending Cases / Events
Wholesale Regulation
System Energy Resources, Inc. Authorized ROE: 10.94% Last Calculated Rate Base: $1.1 billion for 9/30/11 monthly cost of service	Recent Activity: None. Background: 10.94 percent ROE approved by July 2001 FERC order. Grand Gulf Uprate: Work continues on the approximate 178 MW uprate, which remains targeted for completion in 2012. SERI owns or leases 90 percent of the plant. On November 30, 2009, the MPSC issued a Certificate of Public Convenience and Necessity for implementation of the uprate. The license amendment application was submitted to the NRC on September 8, 2010. Following an acceptance review period, the NRC formally accepted the submittal for review on December 22, 2010. The NRC is expected to complete its formal 12-month review in the fourth quarter of 2011.
Transmission, Proposal to Join MISO and System Agreement Authorized ROE: 11.0% (y) Last Filed OATT Rate Base: $2.2 billion (z) filed 5/11 based on 12/31/10 test year	Proposal to Join MISO Recent Activity: The target implementation date for joining MISO is December 2013. On October 31, 2011, EGSL and ELL submitted their joint change of control filing to the LPSC. The other Utility operating companies plan to submit change of control filings to their respective regulators later this year. FERC filings related to integrating the Utility operating companies into MISO are targeted for late 2012 or early 2013. Background: In November 2006, the Utility operating companies installed SPP as their ICT with an initial term of four years unless Entergy filed and FERC approved an extension beyond that four year period. The Utility operating companies did not transfer control of the transmission system but rather vested the ICT with responsibility, among others, for granting or denying transmission service, administering the OASIS node, developing a base plan for the transmission system that is used to determine whether costs of transmission upgrades should be rolled into transmission rates or directly assigned to customers requesting or causing the upgrade to be built, serving as reliability coordinator for the transmission system, and overseeing the weekly procurement process. On November 16, 2010, FERC issued an order accepting the Utility operating companies’ proposal to extend the ICT arrangement with SPP by an additional term of two years, providing time for analysis of longer-term structures. On December 16, 2010, FERC issued an order that granted the Entergy Regional State Committee (E-RSC) additional authority over transmission planning and cost allocation. Specifically, the E-RSC has been given authority, upon unanimous vote of all members, to direct the Utility operating companies to make a filing to propose changes to the way costs for future transmission upgrades are allocated under the OATT and to add specific projects to the Entergy Construction Plan. The E-RSC, comprised of one representative from each of the Utility operating company retail regulators, was formed in 2009 to consider several of the issues related to the Entergy transmission system. On May 12, 2011, the Utility operating companies submitted detailed analysis to their respective retail regulators supporting their conclusion that joining MISO will provide meaningful long-term benefits for customers. The proposal to join MISO also addresses the exit of Entergy Arkansas and Entergy Mississippi from the System Agreement.
	System Agreement Recent Activity: On October 20, 2011, FERC issued an order addressing the DC Circuit’s directive that FERC reconsider two issues in the original bandwidth proceeding. On the first issue, FERC concluded that it would not require refunds for the 20-month period from September 13, 2001 through May 2, 2003. On the second issue, the FERC order concluded that the prospective bandwidth remedy should begin on June 1, 2005 (the date of its initial order in the proceeding), rather than on January 1, 2006 as it had previously ordered. Entergy is required to calculate the additional bandwidth payments for the period June 1, 2005 through December 31, 2005, utilizing the bandwidth formula that was in effect for the first bandwidth calculation. Entergy is required to submit a compliance filing within 60 days that provides the payments and receipts among the Utility operating companies, and to make the payments / receipts among the Utility operating companies within 90 days of the date of the order. Entergy expects the requirement to implement the bandwidth remedy sooner will result in additional payments from Entergy Arkansas customers to customers in other states. EAI has an existing rider approved by the APSC that provides for recovery of costs resulting from the FERC 2005 orders and any subsequent modifications of those orders. Background: The System Agreement case addresses the allocation of production costs among the Utility operating companies. In 2005, FERC issued orders that require each Utility operating company’s production costs to be within +/- 11 percent of System average production costs and set 2007 as the first possible year of payments among the Utility operating companies, based on calendar year 2006 actual production costs. Upon appeal, the DC Circuit remanded to FERC to reconsider its conclusion that it did not have the authority to order refunds and to also reconsider its decision to delay implementation of the bandwidth remedy. Since 2007, bandwidth filings have required payments from EAI to various other Utility operating companies totaling approximately $1.0 billion. FERC set each of the 2007 through 2011 bandwidth filings for hearing following protests from retail regulatory commissions and / or third parties. Requests for rehearing and clarification of a final FERC order in the 2007 bandwidth proceeding were filed. All other bandwidth proceedings remain outstanding. On November 19, 2009, FERC accepted EAI’s and EMI’s notices to withdraw from the System Agreement effective December 2013 and November 2015, respectively. On February 1, 2011, FERC denied the LPSC and CCNO’s request for rehearing of this order. The LPSC and CCNO subsequently appealed this decision to the United States Court of Appeals for the DC Circuit.

(y)	Applies to sales made under Entergy’s FERC-jurisdictional OATT.
(z)	Reflects transmission rate base in Entergy’s FERC OATT filing, which is also included in the rate base figures for each of the Utility operating companies shown above.

C.	Financial Performance Measures and Historical Performance Measures

Appendix C-1 provides comparative financial performance measures for the current quarter. Appendix C-2 provides historical financial performance measures and operating performance metrics for the trailing eight quarters. Financial performance measures in both tables include those calculated and presented in accordance with generally accepted accounting principles (GAAP), as well as those that are considered non-GAAP measures.

As-reported measures are computed in accordance with GAAP as they include all components of net income, including special items. Operational measures are non-GAAP measures as they are calculated using operational net income, which excludes the impact of special items. A reconciliation of operational measures to as-reported measures is provided in Appendix E.

Appendix C-1: GAAP and Non-GAAP Financial Performance Measures
Third Quarter 2011 vs. 2010 (see Appendix D for definitions of certain measures)

For 12 months ending September 30	2011	2010	Change
GAAP Measures
Return on average invested capital – as-reported	8.2%	8.2%	-
Return on average common equity – as-reported	16.1%	15.5%	0.6%
Net margin – as-reported	12.6%	11.7%	0.9%
Cash flow interest coverage	6.6	8.0	(1.4)
Book value per share	$50.92	$48.10	$2.82
End of period shares outstanding (millions)	176.1	181.5	(5.4)

Non-GAAP Measures
Return on average invested capital – operational	8.2%	8.7%	(0.5)%
Return on average common equity – operational	16.1%	16.6%	(0.5)%
Net margin – operational	12.7%	12.5%	0.2%

As of September 30 ($ in millions)	2011	2010	Change
GAAP Measures
Cash and cash equivalents	987	1,931	(944)
Revolver capacity	2,116	2,216	(100)
Total debt	12,452	12,247	205
Securitization debt	1,086	940	146
Debt to capital ratio	57.3%	57.5%	(0.2)%
Off-balance sheet liabilities:
Debt of joint ventures – Entergy’s share	99	108	(9)
Leases – Entergy’s share	546	530	16
Total off-balance sheet liabilities	645	638	7

Non-GAAP Measures
Debt to capital ratio, excluding securitization debt	55.1%	55.6%	(0.5)%
Total gross liquidity	3,103	4,147	(1,044)
Net debt to net capital ratio, excluding securitization debt	52.8%	50.9%	1.9%
Net debt to net capital ratio including off-balance sheet liabilities, excluding securitization debt	54.3%	52.5%	1.8%

Appendix C-2: Historical Performance Measures (see Appendix D for definitions of measures)
			4Q09	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	10YTD	11YTD
Financial
		EPS – as-reported ($)	1.64	1.12	1.65	2.62	1.26	1.38	1.76	3.53	5.38	6.67
		Less – special items ($)	(0.11)	(0.21)	(0.06)	(0.14)	(0.04)	- -	- -	- -	(0.40)	- -
		EPS – operational ($)	1.75	1.33	1.71	2.76	1.30	1.38	1.76	3.53	5.78	6.67
	Trailing twelve months
		ROIC – as-reported (%)	7.7	7.6	8.1	8.2	7.8	7.7	7.7	8.2
		ROIC – operational (%)	8.1	8.0	8.5	8.7	8.2	7.9	7.9	8.2
		ROE – as-reported (%)	14.9	13.8	14.8	15.5	14.6	14.8	14.8	16.1
		ROE – operational (%)	15.7	14.9	15.8	16.6	15.6	15.3	15.2	16.1
		Cash flow interest coverage	6.1	6.3	6.6	8.0	7.8	7.8	7.6	6.6
		Debt to capital ratio (%)	57.4	57.0	56.6	57.5	57.3	57.6	58.1	57.3
		Debt to capital ratio, excluding securitization debt (%)	55.6	55.2	54.8	55.6	55.3	55.7	56.3	55.1
		Net debt to net capital ratio, excluding securitization debt (%)	51.5	51.3	51.6	50.9	52.1	54.0	55.1	52.8
Utility
		GWh billed
		Residential	7,421	9,645	7,705	12,365	7,750	9,042	7,993	12,376	29,715	29,411
		Commercial & Gov’t	7,240	7,064	7,384	9,341	7,504	7,032	7,548	9,344	23,789	23,923
		Industrial	9,235	8,733	9,862	10,276	9,880	9,516	10,140	11,024	28,871	30,681
		Wholesale	998	1,317	971	1,063	1,021	947	1,036	1,038	3,351	3,021
		O&M expense/MWh	$20.18	$17.29	$19.21	$16.41	$21.18	$17.89	$19.09	$14.93	$17.54	$17.11
		Reliability – trailing twelve months
		SAIFI	1.8	1.7	1.8	1.8	1.7	1.7	1.7	1.7
		SAIDI	210	213	206	197	187	188	202	214
Entergy Wholesale Commodities
		Owned Capacity	6,351	6,351	6,351	6,351	6,351	6,016	6,016	6,016	6,351	6,016
		GWh billed	11,821	11,128	10,498	10,736	10,320	10,519	10,652	11,284	32,362	32,455
		Avg. realized revenue per MWh	$59.62	$58.31	$58.15	$61.51	$58.16	$56.98	$52.32	$55.87	$59.32	$55.07
		Non-fuel O&M expense / purchased power per MWh (aa)	$25.20	$23.90	$26.93	$29.59	$26.74	$24.95	$26.87	$25.32	$26.77	$25.71
		EWC Nuclear Operational Measures
		Capacity factor (%)	99	94	90	91	86	91	91	98	92	93
		GWh billed	11,052	10,255	9,868	9,888	9,644	9,913	9,993	10,645	30,011	30,551
		Avg. realized revenue per MWh	$59.43	$58.72	$57.69	$61.41	$58.80	$57.46	$52.38	$56.07	$59.27	$55.31
		Production cost per MWh (aa)	$23.20	$23.70	$24.40	$27.79	$25.23	$24.01	$25.96	$24.92	$25.28	$24.97

(aa)	2009 and 2010 exclude the effects of the non-utility nuclear spin-off expenses special item at Entergy Wholesale Commodities.

D.	Definitions

Appendix D provides definitions of certain operational performance measures, as well as GAAP and non-GAAP financial measures, all of which are referenced in this release.

Appendix D: Definitions of Operational Performance Measures and GAAP and Non-GAAP Financial Measures
Utility
GWh billed	Total number of GWh billed to all retail and wholesale customers
O&M expense per MWh	Operation, maintenance and refueling expenses per MWh of billed sales, excluding fuel
SAIFI	System average interruption frequency index; average number per customer per year, excluding the impact of major storm activity
SAIDI	System average interruption duration index; average minutes per customer per year, excluding the impact of major storm activity
Number of retail customers	Number of customers at end of period
Entergy Wholesale Commodities
Owned capacity	Installed capacity owned and operated by Entergy Wholesale Commodities, including investments in wind generation accounted for under the equity method of accounting; EWC’s 335 MW ownership position in the Harrison County power plant was sold on December 31, 2010
GWh billed	Total number of GWh billed to customers, excluding investments in wind generation accounted for under the equity method of accounting
Average realized revenue per MWh	As-reported revenue per MWh billed for Entergy Wholesale Commodities, excluding revenue from the amortization of the Palisades below-market PPA and investments in wind generation accounted for under the equity method of accounting
Non-fuel O&M expense / purchased power per MWh	Operation, maintenance and refueling expenses and purchased power per MWh billed, excluding fuel and investments in wind generation accounted for under the equity method of accounting
Entergy Wholesale Commodities - Nuclear
Capacity factor	Normalized percentage of the period that the nuclear plants generate power
GWh billed	Total number of GWh billed to all customers
Average realized revenue per MWh	As-reported revenue per MWh billed for Entergy Wholesale Commodities’ nuclear business, excluding revenue from the amortization of the Palisades below-market PPA
Production cost per MWh	Fuel and non-fuel operation and maintenance expenses according to accounting standards that directly relate to the production of electricity per MWh (based on net generation)
Refueling outage days	Number of days lost for scheduled refueling outage during the period
Planned TWh of generation	Amount of output expected to be generated by Entergy Wholesale Commodities nuclear units considering plant operating characteristics, outage schedules, and expected market conditions which impact dispatch, assuming timely renewal of plant operating licenses
Percent of planned generation sold forward	Percent of planned generation output sold or purchased forward under contracts, forward physical contracts, forward financial contracts or options that mitigate price uncertainty (consistent with assumptions used in earnings guidance) that may or may not require regulatory approval
Unit-contingent	Transaction under which power is supplied from a specific generation asset; if the asset is not operating, seller is generally not liable to buyer for any damages
Unit-contingent with availability guarantees	Transaction under which power is supplied from a specific generation asset; if the asset is not operating, seller is generally not liable to buyer for any damages, unless the actual availability over a specified period of time is below an availability threshold specified in the contract
Firm LD	Transaction that requires receipt or delivery of energy at a specified delivery point (usually at a market hub not associated with a specific asset) or settles financially on notional quantities; if a party fails to deliver or receive energy, defaulting party must compensate the other party as specified in the contract
Offsetting positions	Transactions for the purchase of energy, generally to offset a Firm LD transaction
Planned net MW in operation	Amount of capacity to be available to generate power and / or sell capacity considering uprates planned to be completed during the year
Percent of capacity sold forward	Percent of planned qualified capacity sold to mitigate price uncertainty under physical or financial transactions
Bundled energy & capacity contract	A contract for the sale of installed capacity and related energy, priced per megawatt-hour sold
Capacity contract	A contract for the sale of the installed capacity product in regional markets managed by ISO New England and the New York Independent System Operator
Average revenue under contract per MWh or per kW per month	Revenue on a per unit basis at which generation output, capacity, or combination of both is expected to be sold to third parties (including offsetting positions), given existing contract or option exercise prices based on expected dispatch or capacity, excluding the revenue associated with the amortization of the below-market Power Purchase Agreement for Palisades. Revenue may fluctuate due to factors including positive or negative basis differentials, option premiums and market prices at time of option expiration, costs to convert Firm LD to unit-contingent and other risk management costs.

Financial measures defined in the below table include measures prepared in accordance with generally accepted accounting principles, (GAAP), as well as non-GAAP measures. Non-GAAP measures are included in this release in order to provide metrics that remove the effect of not routine financial impacts from commonly used financial metrics.

Appendix D: Definitions of Operational Performance Measures and GAAP and Non-GAAP Financial Measures (continued)
Financial Measures – GAAP
Return on average invested capital – as-reported	12-months rolling net income attributable to Entergy Corporation (Net Income) adjusted to include preferred dividends and tax-effected interest expense divided by average invested capital
Return on average common equity – as-reported	12-months rolling Net Income divided by average common equity
Net margin – as-reported	12-months rolling Net Income divided by 12 months rolling revenue
Cash flow interest coverage	12-months cash flow from operating activities plus 12-months rolling interest paid, divided by interest expense
Book value per share	Common equity divided by end of period shares outstanding
Revolver capacity	Amount of undrawn capacity remaining on corporate and subsidiary revolvers
Total debt	Sum of short-term and long-term debt, notes payable, capital leases, and preferred stock with sinking fund on the balance sheet less non-recourse debt, if any
Debt of joint ventures (Entergy’s share)	Debt issued by business joint ventures at Entergy Wholesale Commodities
Leases (Entergy’s share)	Operating leases held by subsidiaries capitalized at implicit interest rate
Debt to capital ratio	Gross debt divided by total capitalization
Securitization debt	Debt associated with securitization bonds issued to recover storm costs from hurricanes Rita, Ike and Gustav at Entergy Texas; the 2009 ice storm at Entergy Arkansas; and investment recovery of costs associated with the cancelled Little Gypsy repowering project at Entergy Louisiana

Financial Measures – Non-GAAP
Operational earnings	As-reported Net Income adjusted to exclude the impact of special items
Return on average invested capital – operational	12-months rolling operational Net Income adjusted to include preferred dividends and tax-effected interest expense divided by average invested capital
Return on average common equity – operational	12-months rolling operational Net Income divided by average common equity
Net margin – operational	12-months rolling operational Net Income divided by 12 months rolling revenue
Total gross liquidity	Sum of cash and revolver capacity
Debt to capital ratio, excluding securitization debt	Gross debt divided by total capitalization, excluding securitization debt
Net debt to net capital ratio, excluding securitization debt	Gross debt less cash and cash equivalents divided by total capitalization less cash and cash equivalents, excluding securitization debt
Net debt to net capital ratio, including off-balance sheet liabilities, excluding securitization debt	Sum of gross debt and off-balance sheet debt less cash and cash equivalents divided by sum of total capitalization and off-balance sheet debt less cash and cash equivalents, excluding securitization debt

E.	GAAP to Non-GAAP Reconciliations

Appendix E-1 and Appendix E-2 provide reconciliations of various non-GAAP financial measures disclosed in this release to their most comparable GAAP measure.

Appendix E-1: Reconciliation of GAAP to Non-GAAP Financial Measures – Return on Equity, Return on Invested Capital and Net Margin Metrics
($ in millions)
	4Q09	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11
As-reported Net Income-rolling 12 months (A)	1,231	1,210	1,298	1,336	1,250	1,285	1,285	1,421
Preferred dividends	20	20	20	20	20	20	20	20
Tax effected interest expense	351	372	368	358	354	327	320	320
As-reported Net Income, rolling 12 months including preferred dividends and tax effected interest expense (B)	1,602	1,602	1,686	1,714	1,624	1,632	1,625	1,761

Special items in prior quarters	(49)	(53)	(76)	(71)	(75)	(42)	(32)	(7)

Special items in current quarter
Nuclear spin-off expenses	(21)	(40)	(10)	(25)	(7)	-	-	-
Total special items (C)	(71)	(94)	(87)	(96)	(82)	(42)	(32)	(7)

Operational earnings, rolling 12 months including preferred dividends and tax effected interest expense (B-C)	1,673	1,696	1,773	1,810	1,706	1,674	1,657	1,768

Operational earnings, rolling 12 months (A-C)	1,302	1,304	1,385	1,432	1,332	1,327	1,317	1,428

Average invested capital (D)	20,748	21,149	20,761	20,802	20,781	21,093	21,101	21,509

Average common equity (E)	8,290	8,745	8,769	8,608	8,555	8,698	8,684	8,849

Operating revenues (F)	10,746	10,716	11,058	11,453	11,488	11,269	11,210	11,273

ROIC – as-reported % (B/D)	7.7	7.6	8.1	8.2	7.8	7.7	7.7	8.2

ROIC – operational % ((B-C)/D)	8.1	8.0	8.5	8.7	8.2	7.9	7.9	8.2

ROE – as-reported % (A/E)	14.9	13.8	14.8	15.5	14.6	14.8	14.8	16.1

ROE – operational % ((A-C)/E)	15.7	14.9	15.8	16.6	15.6	15.3	15.2	16.1

Net margin – as-reported % (A/F)	11.5	11.3	11.7	11.7	10.9	11.4	11.5	12.6

Net margin – operational % ((A-C)/F)	12.1	12.2	12.5	12.5	11.6	11.8	11.8	12.7

Appendix E-2: Reconciliation of GAAP to Non-GAAP Financial Measures – Credit and Liquidity Metrics
($ in millions)
	4Q09	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11
Gross debt (A)	12,014	12,152	11,853	12,247	11,816	12,018	12,360	12,452
Less securitization debt (B)	838	838	829	940	931	910	896	1,086
Gross debt, excluding securitization debt (C)	11,176	11,314	11,024	11,307	10,885	11,108	11,464	11,366
Less cash and cash equivalents (D)	1,710	1,657	1,336	1,931	1,294	726	530	987
Net debt, excluding securitization debt (E)	9,466	9,657	9,688	9,376	9,591	10,382	10,934	10,379

Total capitalization (F)	20,939	21,322	20,935	21,290	20,623	20,864	21,268	21,728
Less securitization debt (B)	838	838	829	940	931	910	896	1,086
Total capitalization, excluding securitization debt (G)	20,101	20,484	20,106	20,350	19,692	19,954	20,372	20,642
Less cash and cash equivalents (D)	1,710	1,657	1,336	1,931	1,294	726	530	987
Net capital, excluding securitization debt (H)	18,391	18,827	18,770	18,419	18,398	19,228	19,842	19,655

Debt to capital ratio % (A/F)	57.4	57.0	56.6	57.5	57.3	57.6	58.1	57.3

Debt to capital ratio, excluding securitization debt % (C/G)	55.6	55.2	54.8	55.6	55.3	55.7	56.3	55.1

Net debt to net capital ratio, excluding securitization debt % (E/H)	51.5	51.3	51.6	50.9	52.1	54.0	55.1	52.8

Off-balance sheet liabilities (I)	646	644	641	638	653	650	647	645

Net debt to net capital ratio including off-balance sheet liabilities, excluding securitization debt % ((E+I)/(H+I))	53.1	52.9	53.2	52.5	53.8	55.5	56.5	54.3

Revolver capacity (J)	1,464	1,417	1,338	2,216	2,354	2,258	1,993	2,116

Gross liquidity (D+J)	3,174	3,074	2,674	4,147	3,648	2,984	2,523	3,103

Entergy Corporation’s common stock is listed on the New York and Chicago exchanges under the symbol “ETR”.

Additional investor information can be accessed on-line at

www.entergy.com/investor_relations

*********************************************************************************************************************************

In this news release, and from time to time, Entergy Corporation makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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 (a) those factors discussed in: (i) Entergy’s Form 10-K for the year ended December 31, 2010; (ii) Entergy’s Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011; and (iii) Entergy’s other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with rate proceedings, formula rate plans and other cost recovery mechanisms; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) nuclear plant relicensing, operating and regulatory risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (e) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; and (f) conditions in commodity and capital markets during the periods covered by the forward-looking statements, in addition to other factors described elsewhere in this release and in subsequent securities filings.

VII.	Financial Statements

Entergy Corporation

Consolidating Balance Sheet
September 30, 2011
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated
ASSETS

CURRENT ASSETS

Cash and cash equivalents:
Cash	$	124,243		$	11,425		$	5		$	135,673
Temporary cash investments		342,731			495,967			12,769			851,467
Total cash and cash equivalents		466,974			507,392			12,774			987,140
Securitization recovery trust account		43,487			-			-			43,487
Notes receivable		-			1,223,059			(1,223,059	)		-
Accounts receivable:
Customer		624,958			165,397			-			790,355
Allowance for doubtful accounts		(31,936	)		(203	)		-			(32,139	)
Associated companies		16,326			102,203			(118,529	)		-
Other		149,637			11,249			176			161,062
Accrued unbilled revenues		328,745			350			-			329,095
Total accounts receivable		1,087,730			278,996			(118,353	)		1,248,373
Deferred fuel costs		87,297			-			-			87,297
Accumulated deferred income taxes		138,318			103,262			(236,288	)		5,292
Fuel inventory - at average cost		191,721			3,127			-			194,848
Materials and supplies - at average cost		555,398			325,221			-			880,619
Deferred nuclear refueling outage costs		97,673			135,179			-			232,852
System agreement cost equalization		33,174			-			-			33,174
Prepaid taxes		-			-			56,565			56,565
Prepayments and other		86,395			137,391			4,065			227,851
TOTAL		2,788,167			2,713,627			(1,504,296	)		3,997,498

OTHER PROPERTY AND INVESTMENTS

Investment in affiliates - at equity		1,147,271			150,114			(1,253,451	)		43,934
Decommissioning trust funds		1,524,865			2,041,246			-			3,566,111
Non-utility property - at cost (less accumulated depreciation)		171,096			72,519			15,352			258,967
Other		372,771			10,915			30,000			413,686
TOTAL		3,216,003			2,274,794			(1,208,099	)		4,282,698

PROPERTY, PLANT, AND EQUIPMENT

Electric		34,105,899			4,375,402			3,411			38,484,712
Property under capital lease		789,898			-			-			789,898
Natural gas		339,484			439			-			339,923
Construction work in progress		1,553,429			350,204			680			1,904,313
Nuclear fuel		731,218			672,764			-			1,403,982
TOTAL PROPERTY, PLANT AND EQUIPMENT		37,519,928			5,398,809			4,091			42,922,828
Less - accumulated depreciation and amortization		17,202,625			920,837			339			18,123,801
PROPERTY, PLANT AND EQUIPMENT - NET		20,317,303			4,477,972			3,752			24,799,027

DEFERRED DEBITS AND OTHER ASSETS

Regulatory assets:
Regulatory asset for income taxes - net		737,475			-			-			737,475
Other regulatory assets		3,700,902			-			-			3,700,902
Deferred fuel costs		172,202			-			-			172,202
Goodwill		374,099			3,073			-			377,172
Accumulated deferred income taxes		6,075			13,768			38,158			58,001
Other		214,602			708,198			(43,277	)		879,523
TOTAL		5,205,355			725,039			(5,119	)		5,925,275
					-
TOTAL ASSETS	$	31,526,828		$	10,191,432		$	(2,713,762	)	$	39,004,498

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Balance Sheet
September 30, 2011
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated
LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES

Currently maturing long-term debt	$	125,472		$	26,938		$	1,870,000		$	2,022,410
Notes payable and commercial paper:
Associated companies		-			70,567			(70,567	)		-
Other		144,871			-			-			144,871
Account payable:
Associated companies		9,365			11,499			(20,864	)		-
Other		677,623			204,656			372			882,651
Customer deposits		347,185			-			-			347,185
Taxes accrued		775,621			155,174			(930,795	)		-
Accumulated deferred income taxes		85,500			149			(20,828	)		64,821
Interest accrued		158,604			3,676			2,098			164,378
Deferred fuel costs		69,566			-			-			69,566
Obligations under capital leases		3,578			-			-			3,578
Pension and other postretirement liabilities		34,334			6,236			-			40,570
System agreement cost equalization		33,190			-			-			33,190
Other		127,988			101,039			2,096			231,123
TOTAL		2,592,897			579,934			831,512			4,004,343

NON-CURRENT LIABILITIES

Accumulated deferred income taxes and taxes accrued		6,635,021			796,515			971,917			8,403,453
Accumulated deferred investment tax credits		281,112			-			-			281,112
Obligations under capital leases		39,341			-			-			39,341
Other regulatory liabilities		645,843			-			-			645,843
Decommissioning and retirement cost liabilities		1,775,013			1,499,466			-			3,274,479
Accumulated provisions		384,747			2,430			4,535			391,712
Pension and other postretirement liabilities		1,459,555			439,411			-			1,898,966
Long-term debt		9,118,690			123,699			999,604			10,241,993
Other		662,112			674,549			(789,515	)		547,146
TOTAL		21,001,434			3,536,070			1,186,541			25,724,045

Subsidiaries' preferred stock without sinking fund		186,510			85,995			(55,757	)		216,748

EQUITY

Common Shareholders' Equity:
Common stock, $.01 par value, authorized 500,000,000 shares;
issued 254,752,788 shares in 2011		2,161,268			398,987			(2,557,707	)		2,548
Paid-in capital		2,416,633			1,732,224			1,214,102			5,362,959
Retained earnings		3,297,048			3,893,597			2,248,355			9,439,000
Accumulated other comprehensive income (loss)		(102,962	)		(35,375	)		-			(138,337	)
Less - treasury stock, at cost (78,677,119 shares in 2011)		120,000			-			5,580,808			5,700,808
Total common shareholders' equity		7,651,987			5,989,433			(4,676,058	)		8,965,362
Subsidiaries' preferred stock without sinking fund		94,000			-			-			94,000
TOTAL		7,745,987			5,989,433			(4,676,058	)		9,059,362

TOTAL LIABILITIES AND EQUITY	$	31,526,828		$	10,191,432		$	(2,713,762	)	$	39,004,498

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Balance Sheet
December 31, 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated
ASSETS

CURRENT ASSETS

Cash and cash equivalents:
Cash	$	70,182		$	5,249		$	859		$	76,290
Temporary cash investments		751,403			448,541			18,238			1,218,182
Total cash and cash equivalents		821,585			453,790			19,097			1,294,472
Securitization recovery trust account		43,044			-			-			43,044
Notes receivable		-			1,065,356			(1,065,356	)		-
Accounts receivable:
Customer		385,383			217,413			-			602,796
Allowance for doubtful accounts		(31,575	)		(202	)		-			(31,777	)
Associated companies		20,214			66,807			(87,021	)		-
Other		150,369			10,893			400			161,662
Accrued unbilled revenues		302,787			114			-			302,901
Total accounts receivable		827,178			295,025			(86,621	)		1,035,582
Deferred fuel costs		64,659			-			-			64,659
Accumulated deferred income taxes		8,472			-			-			8,472
Fuel inventory - at average cost		205,258			2,262			-			207,520
Materials and supplies - at average cost		548,758			318,150			-			866,908
Deferred nuclear refueling outage costs		64,463			153,960			-			218,423
System agreement cost equalization		52,160			-			-			52,160
Prepaid taxes		190,349			111,919			(461	)		301,807
Prepayments and other		64,127			174,854			7,055			246,036
TOTAL		2,890,053			2,575,316			(1,126,286	)		4,339,083

OTHER PROPERTY AND INVESTMENTS

Investment in affiliates - at equity		1,147,271			291,453			(1,398,027	)		40,697
Decommissioning trust funds		1,542,832			2,052,884			-			3,595,716
Non-utility property - at cost (less accumulated depreciation)		166,671			72,869			18,307			257,847
Other		364,937			11,009			30,000			405,946
TOTAL		3,221,711			2,428,215			(1,349,720	)		4,300,206

PROPERTY, PLANT, AND EQUIPMENT

Electric		33,007,394			4,142,255			3,412			37,153,061
Property under capital lease		800,078			-			-			800,078
Natural gas		330,168			440			-			330,608
Construction work in progress		1,300,207			360,689			664			1,661,560
Nuclear fuel		760,140			617,822			-			1,377,962
TOTAL PROPERTY, PLANT AND EQUIPMENT		36,197,987			5,121,206			4,076			41,323,269
Less - accumulated depreciation and amortization		16,669,910			804,695			309			17,474,914
PROPERTY, PLANT AND EQUIPMENT - NET		19,528,077			4,316,511			3,767			23,848,355

DEFERRED DEBITS AND OTHER ASSETS

Regulatory assets:
Regulatory asset for income taxes - net		845,725			-			-			845,725
Other regulatory assets		3,838,237			-			-			3,838,237
Deferred fuel costs		172,202			-			-			172,202
Goodwill		374,099			3,073			-			377,172
Accumulated deferred income taxes		4,310			8,450			41,763			54,523
Other		205,826			771,252			(67,305	)		909,773
TOTAL		5,440,399			782,775			(25,542	)		6,197,632
					-
TOTAL ASSETS	$	31,080,240		$	10,102,817		$	(2,497,781	)	$	38,685,276

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Balance Sheet
December 31, 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities		Parent & Other			Consolidated
LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES

Currently maturing long-term debt	$	184,291		$	29,257	$	86,000		$	299,548
Notes payable and commercial paper:
Associated companies		-			144,497		(144,497	)		-
Other		154,135			-		-			154,135
Account payable:
Associated companies		9,696			13,420		(23,116	)		-
Other		878,584			300,235		2,280			1,181,099
Customer deposits		335,058			-		-			335,058
Taxes accrued		-			-		-			-
Accumulated deferred income taxes		(8,062	)		49,522		7,847			49,307
Interest accrued		201,799			669		15,217			217,685
Deferred fuel costs		166,409			-		-			166,409
Obligations under capital leases		3,388			-		-			3,388
Pension and other postretirement liabilities		34,283			5,579		-			39,862
System agreement cost equalization		52,160			-		-			52,160
Other		78,689			193,497		5,412			277,598
TOTAL		2,090,430			736,676		(50,857	)		2,776,249

NON-CURRENT LIABILITIES

Accumulated deferred income taxes and taxes accrued		7,514,297			924,485		134,864			8,573,646
Accumulated deferred investment tax credits		292,330			-		-			292,330
Obligations under capital leases		42,078			-		-			42,078
Other regulatory liabilities		539,026			-		-			539,026
Decommissioning and retirement cost liabilities		1,728,469			1,420,010		-			3,148,479
Accumulated provisions		388,081			2,595		4,574			395,250
Pension and other postretirement liabilities		1,700,368			474,996		-			2,175,364
Long-term debt		8,553,358			132,143		2,631,656			11,317,157
Other		712,060			696,049		(789,550	)		618,559
TOTAL		21,470,067			3,650,278		1,981,544			27,101,889

Subsidiaries' preferred stock without sinking fund		186,510			85,985		(55,757	)		216,738

EQUITY

Common Shareholders' Equity:
Common stock, $.01 par value, authorized 500,000,000 shares;
issued 254,752,788 shares in 2010		2,161,268			398,987		(2,557,707	)		2,548
Paid-in capital		2,416,633			1,566,166		1,384,675			5,367,474
Retained earnings		2,889,317			3,594,952		2,205,132			8,689,401
Accumulated other comprehensive income (loss)		(107,985	)		69,773		-			(38,212	)
Less - treasury stock, at cost (76,006,920 shares in 2010)		120,000			-		5,404,811			5,524,811
Total common shareholders' equity		7,239,233			5,629,878		(4,372,711	)		8,496,400
Subsidiaries' preferred stock without sinking fund		94,000			-		-			94,000
TOTAL		7,333,233			5,629,878		(4,372,711	)		8,590,400

TOTAL LIABILITIES AND EQUITY	$	31,080,240		$	10,102,817	$	(2,497,781	)	$	38,685,276

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Balance Sheet
September 30, 2011 vs December 31, 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated
ASSETS

CURRENT ASSETS

Cash and cash equivalents:
Cash	$	54,061		$	6,176		$	(854	)	$	59,383
Temporary cash investments		(408,672	)		47,426			(5,469	)		(366,715	)
Total cash and cash equivalents		(354,611	)		53,602			(6,323	)		(307,332	)
Securitization recovery trust account		443			-			-			443
Notes receivable		-			157,703			(157,703	)		-
Accounts receivable:
Customer		239,575			(52,016	)		-			187,559
Allowance for doubtful accounts		(361	)		(1	)		-			(362	)
Associated companies		(3,888	)		35,396			(31,508	)		-
Other		(732	)		356			(224	)		(600	)
Accrued unbilled revenues		25,958			236			-			26,194
Total accounts receivable		260,552			(16,029	)		(31,732	)		212,791
Deferred fuel costs		22,638			-			-			22,638
Accumulated deferred income taxes		129,846			103,262			(236,288	)		(3,180	)
Fuel inventory - at average cost		(13,537	)		865			-			(12,672	)
Materials and supplies - at average cost		6,640			7,071			-			13,711
Deferred nuclear refueling outage costs		33,210			(18,781	)		-			14,429
System agreement cost equalization		(18,986	)		-			-			(18,986	)
Prepaid taxes		(190,349	)		(111,919	)		57,026			(245,242	)
Prepayments and other		22,268			(37,463	)		(2,990	)		(18,185	)
TOTAL		(101,886	)		138,311			(378,010	)		(341,585	)

OTHER PROPERTY AND INVESTMENTS

Investment in affiliates - at equity		-			(141,339	)		144,576			3,237
Decommissioning trust funds		(17,967	)		(11,638	)		-			(29,605	)
Non-utility property - at cost (less accumulated depreciation)		4,425			(350	)		(2,955	)		1,120
Other		7,834			(94	)		-			7,740
TOTAL		(5,708	)		(153,421	)		141,621			(17,508	)

PROPERTY, PLANT, AND EQUIPMENT

Electric		1,098,505			233,147			(1	)		1,331,651
Property under capital lease		(10,180	)		-			-			(10,180	)
Natural gas		9,316			(1	)		-			9,315
Construction work in progress		253,222			(10,485	)		16			242,753
Nuclear fuel		(28,922	)		54,942			-			26,020
TOTAL PROPERTY, PLANT AND EQUIPMENT		1,321,941			277,603			15			1,599,559
Less - accumulated depreciation and amortization		532,715			116,142			30			648,887
PROPERTY, PLANT AND EQUIPMENT - NET		789,226			161,461			(15	)		950,672

DEFERRED DEBITS AND OTHER ASSETS

Regulatory assets:
Regulatory asset for income taxes - net		(108,250	)		-			-			(108,250	)
Other regulatory assets		(137,335	)		-			-			(137,335	)
Deferred fuel costs		-			-			-			-
Goodwill		-			-			-			-
Accumulated deferred income taxes		1,765			5,318			(3,605	)		3,478
Other		8,776			(63,054	)		24,028			(30,250	)
TOTAL		(235,044	)		(57,736	)		20,423			(272,357	)

TOTAL ASSETS	$	446,588		$	88,615		$	(215,981	)	$	319,222

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Balance Sheet
September 30, 2011 vs December 31, 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated
LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES

Currently maturing long-term debt	$	(58,819	)	$	(2,319	)	$	1,784,000		$	1,722,862
Notes payable and commercial paper:
Associated companies		-			(73,930	)		73,930			-
Other		(9,264	)		-			-			(9,264	)
Account payable:
Associated companies		(331	)		(1,921	)		2,252			-
Other		(200,961	)		(95,579	)		(1,908	)		(298,448	)
Customer deposits		12,127			-			-			12,127
Taxes accrued		775,621			155,174			(930,795	)		-
Accumulated deferred income taxes		93,562			(49,373	)		(28,675	)		15,514
Interest accrued		(43,195	)		3,007			(13,119	)		(53,307	)
Deferred fuel costs		(96,843	)		-			-			(96,843	)
Obligations under capital leases		190			-			-			190
Pension and other postretirement liabilities		51			657			-			708
System agreement cost equalization		(18,970	)		-			-			(18,970	)
Other		49,299			(92,458	)		(3,316	)		(46,475	)
TOTAL		502,467			(156,742	)		882,369			1,228,094

NON-CURRENT LIABILITIES

Accumulated deferred income taxes and taxes accrued		(879,276	)		(127,970	)		837,053			(170,193	)
Accumulated deferred investment tax credits		(11,218	)		-			-			(11,218	)
Obligations under capital leases		(2,737	)		-			-			(2,737	)
Other regulatory liabilities		106,817			-			-			106,817
Decommissioning and retirement cost liabilities		46,544			79,456			-			126,000
Accumulated provisions		(3,334	)		(165	)		(39	)		(3,538	)
Pension and other postretirement liabilities		(240,813	)		(35,585	)		-			(276,398	)
Long-term debt		565,332			(8,444	)		(1,632,052	)		(1,075,164	)
Other		(49,948	)		(21,500	)		35			(71,413	)
TOTAL		(468,633	)		(114,208	)		(795,003	)		(1,377,844	)

Subsidiaries' preferred stock without sinking fund		-			10			-			10

EQUITY

Common Shareholders' Equity:
Common stock, $.01 par value, authorized 500,000,000 shares;
issued 254,752,788 shares in 2011 and in 2010		-			-			-			-
Paid-in capital		-			166,058			(170,573	)		(4,515	)
Retained earnings		407,731			298,645			43,223			749,599
Accumulated other comprehensive income (loss)		5,023			(105,148	)		-			(100,125	)
Less - treasury stock, at cost		-			-			175,997			175,997
Total common shareholders' equity		412,754			359,555			(303,347	)		468,962
Subsidiaries' preferred stock without sinking fund		-			-			-			-
TOTAL		412,754			359,555			(303,347	)		468,962

TOTAL LIABILITIES AND EQUITY	$	446,588		$	88,615		$	(215,981	)	$	319,222

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Income Statement
Three Months Ended September 30, 2011
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated

OPERATING REVENUES
Electric	$	2,734,192		$	-		$	(591	)	$	2,733,601
Natural gas		26,439			-			-			26,439
Competitive businesses		-			641,216			(5,703	)		635,513
Total		2,760,631			641,216			(6,294	)		3,395,553

OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale		769,546			80,557			(121	)		849,982
Purchased power		468,696			18,861			(12,223	)		475,335
Nuclear refueling outage expenses		26,602			37,965			-			64,566
Other operation and maintenance		477,866			228,888			2,067			708,821
Decommissioning		27,327			29,140			-			56,467
Taxes other than income taxes		121,924			29,713			408			152,044
Depreciation and amortization		237,197			45,247			1,137			283,581
Other regulatory charges (credits) - net		203,848			-			-			203,848
Total		2,333,006			470,371			(8,732	)		2,794,644


OPERATING INCOME		427,625			170,845			2,438			600,909

OTHER INCOME
Allowance for equity funds used during construction		21,516			-			-			21,516
Interest and investment income		40,742			33,611			(41,114	)		33,238
Miscellaneous - net		(7,254	)		(4,196	)		(2,686	)		(14,137	)
Total		55,004			29,415			(43,800	)		40,617

INTEREST EXPENSE
Interest expense		122,556			5,319			9,427			137,301
Allowance for borrowed funds used during construction		(9,713	)		-			-			(9,713	)
Total		112,843			5,319			9,427			127,588

INCOME BEFORE INCOME TAXES		369,786			194,941			(50,789	)		513,938

Income taxes		(158,673	)		64,079			(24,537	)		(119,131	)

CONSOLIDATED NET INCOME		528,459			130,862			(26,252	)		633,069

Preferred dividend requirements of subsidiaries		4,332			683			-			5,015

NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$	524,127		$	130,179		$	(26,252	)	$	628,054

EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$	2.96		$	0.74		$	(0.15	)	$	3.55
DILUTED	$	2.95		$	0.73		$	(0.15	)	$	3.53

AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC											176,950,469
DILUTED											177,723,020

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Income Statement
Three Months Ended September 30, 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated

OPERATING REVENUES
Electric	$	2,639,464		$	-		$	(711	)	$	2,638,752
Natural gas		27,263			-			-			27,263
Competitive businesses		-			671,927			(5,766	)		666,161
Total		2,666,727			671,927			(6,477	)		3,332,176

OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale		671,904			77,325			(366	)		748,863
Purchased power		474,238			20,181			(9,725	)		484,694
Nuclear refueling outage expenses		26,819			38,066			-			64,885
Other operation and maintenance		515,613			299,399			(6,324	)		808,688
Decommissioning		26,277			27,103			-			53,380
Taxes other than income taxes		112,902			24,922			393			138,217
Depreciation and amortization		221,627			41,799			1,195			264,621
Other regulatory charges (credits) - net		(1,814	)		-			-			(1,814	)
Total		2,047,566			528,795			(14,827	)		2,561,534

		619,161			143,132			8,350			770,642
OPERATING INCOME

OTHER INCOME
Allowance for equity funds used during construction		15,064			-			-			15,064
Interest and investment income		46,364			43,043			(50,702	)		38,705
Miscellaneous - net		(7,017	)		(5,770	)		(1,962	)		(14,748	)
Total		54,411			37,273			(52,664	)		39,021

INTEREST EXPENSE
Interest expense		127,989			5,956			2,130			136,075
Allowance for borrowed funds used during construction		(8,949	)		-			-			(8,949	)
Total		119,040			5,956			2,130			127,126

INCOME BEFORE INCOME TAXES		554,532			174,449			(46,444	)		682,537

Income taxes		216,591			30,728			(62,683	)		184,636

CONSOLIDATED NET INCOME		337,941			143,721			16,239			497,901

Preferred dividend requirements of subsidiaries		4,332			683			-			5,015

NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$	333,609		$	143,038		$	16,239		$	492,886

EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$	1.79		$	0.77		$	0.09		$	2.65
DILUTED	$	1.78		$	0.76		$	0.08		$	2.62

AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC											185,962,431
DILUTED											187,777,172

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Income Statement
Three Months Ended September 30, 2011 vs. 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated

OPERATING REVENUES
Electric	$	94,728		$	-		$	120		$	94,849
Natural gas		(824	)		-			-			(824	)
Competitive businesses		-			(30,711	)		63			(30,648	)
Total		93,904			(30,711	)		183			63,377

OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale		97,642			3,232			245			101,119
Purchased power		(5,542	)		(1,320	)		(2,498	)		(9,359	)
Nuclear refueling outage expenses		(217	)		(101	)		-			(319	)
Other operation and maintenance		(37,747	)		(70,511	)		8,391			(99,867	)
Decommissioning		1,050			2,037			-			3,087
Taxes other than income taxes		9,022			4,791			15			13,827
Depreciation and amortization		15,570			3,448			(58	)		18,960
Other regulatory charges (credits ) - net		205,662			-			-			205,662
Total		285,440			(58,424	)		6,095			233,110


OPERATING INCOME		(191,536	)		27,713			(5,912	)		(169,733	)

OTHER INCOME
Allowance for equity funds used during construction		6,452			-			-			6,452
Interest and investment income		(5,622	)		(9,432	)		9,588			(5,467	)
Miscellaneous - net		(237	)		1,574			(724	)		611
Total		593			(7,858	)		8,864			1,596

INTEREST EXPENSE
Interest expense		(5,433	)		(637	)		7,297			1,226
Allowance for borrowed funds used during construction		(764	)		-			-			(764	)
Total		(6,197	)		(637	)		7,297			462

INCOME BEFORE INCOME TAXES		(184,746	)		20,492			(4,345	)		(168,599	)

Income taxes		(375,264	)		33,351			38,146			(303,767	)

CONSOLIDATED NET INCOME		190,518			(12,859	)		(42,491	)		135,168

Preferred dividend requirements of subsidiaries		-			-			-			-

NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$	190,518		$	(12,859	)	$	(42,491	)	$	135,168

EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$	1.17		$	(0.03	)	$	(0.24	)	$	0.90
DILUTED	$	1.17		$	(0.03	)	$	(0.23	)	$	0.91


*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Income Statement
Nine Months Ended September 30, 2011
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated

OPERATING REVENUES
Electric	$	6,813,271		$	-		$	(1,733	)	$	6,811,538
Natural gas		126,453			-			-			126,453
Competitive businesses		-			1,819,439			(17,389	)		1,802,050
Total		6,939,724			1,819,439			(19,122	)		8,740,041

OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale		1,694,393			227,072			(458	)		1,921,007
Purchased power		1,269,350			51,855			(32,025	)		1,289,180
Nuclear refueling outage expenses		78,433			113,084			-			191,517
Other operation and maintenance		1,410,693			669,383			(3,010	)		2,077,066
Decommissioning		81,368			85,861			-			167,229
Taxes other than income taxes		330,232			75,213			1,048			406,493
Depreciation and amortization		676,680			132,655			3,337			812,672
Other regulatory charges (credits) - net		204,338			-			-			204,338
Total		5,745,487			1,355,123			(31,108	)		7,069,502


OPERATING INCOME		1,194,237			464,316			11,986			1,670,539

OTHER INCOME
Allowance for equity funds used during construction		59,558			-			-			59,558
Interest and investment income		121,419			97,495			(123,008	)		95,906
Miscellaneous - net		(17,255	)		(14,115	)		(9,128	)		(40,498	)
Total		163,722			83,380			(132,136	)		114,966

INTEREST EXPENSE
Interest expense		364,935			14,701			29,848			409,484
Allowance for borrowed funds used during construction		(27,397	)		-			-			(27,397	)
Total		337,538			14,701			29,848			382,087

INCOME BEFORE INCOME TAXES		1,020,421			532,995			(149,998	)		1,403,418

Income taxes		70,567			213,344			(87,839	)		196,072

CONSOLIDATED NET INCOME		949,854			319,651			(62,159	)		1,207,346

Preferred dividend requirements of subsidiaries		12,997			2,049			-			15,046

NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$	936,857		$	317,602		$	(62,159	)	$	1,192,300

EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$	5.26		$	1.79		$	(0.35	)	$	6.70
DILUTED	$	5.24		$	1.78		$	(0.35	)	$	6.67

AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC											177,857,667
DILUTED											178,805,215

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Income Statement
Nine Months Ended September 30, 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated

OPERATING REVENUES
Electric	$	6,862,237		$	-		$	(2,446	)	$	6,859,791
Natural gas		154,426			-			-			154,426
Competitive businesses		-			1,954,393			(14,137	)		1,940,256
Total		7,016,663			1,954,393			(16,583	)		8,954,473

OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale		1,706,461			233,871			(1,255	)		1,939,077
Purchased power		1,349,379			51,587			(24,911	)		1,376,055
Nuclear refueling outage expenses		81,489			109,906			-			191,395
Other operation and maintenance		1,421,740			809,744			(20,102	)		2,211,382
Decommissioning		77,542			79,881			-			157,423
Taxes other than income taxes		322,956			76,330			1,311			400,597
Depreciation and amortization		665,503			120,506			3,383			789,392
Other regulatory charges (credits) - net		15,555			-			-			15,555
Total		5,640,625			1,481,825			(41,574	)		7,080,876

		1,376,038			472,568			24,991			1,873,597
OPERATING INCOME

OTHER INCOME
Allowance for equity funds used during construction		45,990			-			-			45,990
Interest and investment income		118,901			131,352			(128,384	)		121,869
Miscellaneous - net		(12,019	)		(12,355	)		(7,676	)		(32,050	)
Total		152,872			118,997			(136,060	)		135,809

INTEREST EXPENSE
Interest expense		397,491			67,129			(1,166	)		463,454
Allowance for borrowed funds used during construction		(27,274	)		-			-			(27,274	)
Total		370,217			67,129			(1,166	)		436,180

INCOME BEFORE INCOME TAXES		1,158,693			524,436			(109,903	)		1,573,226

Income taxes		447,608			185,616			(96,997	)		536,227

CONSOLIDATED NET INCOME		711,085			338,820			(12,906	)		1,036,999

Preferred dividend requirements of subsidiaries		12,999			2,049			-			15,048

NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$	698,086		$	336,771		$	(12,906	)	$	1,021,951

EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$	3.72		$	1.79		$	(0.07	)	$	5.44
DILUTED	$	3.68		$	1.77		$	(0.07	)	$	5.38

AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC											187,968,582
DILUTED											189,914,439

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Income Statement
Nine Months Ended September 30, 2011 vs. 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated

OPERATING REVENUES
Electric	$	(48,966	)	$	-		$	713		$	(48,253	)
Natural gas		(27,973	)		-			-			(27,973	)
Competitive businesses		-			(134,954	)		(3,252	)		(138,206	)
Total		(76,939	)		(134,954	)		(2,539	)		(214,432	)

OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale		(12,068	)		(6,799	)		797			(18,070	)
Purchased power		(80,029	)		268			(7,114	)		(86,875	)
Nuclear refueling outage expenses		(3,056	)		3,178			-			122
Other operation and maintenance		(11,047	)		(140,361	)		17,092			(134,316	)
Decommissioning		3,826			5,980			-			9,806
Taxes other than income taxes		7,276			(1,117	)		(263	)		5,896
Depreciation and amortization		11,177			12,149			(46	)		23,280
Other regulatory charges (credits ) - net		188,783			-			-			188,783
Total		104,862			(126,702	)		10,466			(11,374	)


OPERATING INCOME		(181,801	)		(8,252	)		(13,005	)		(203,058	)

OTHER INCOME
Allowance for equity funds used during construction		13,568			-			-			13,568
Interest and investment income		2,518			(33,857	)		5,376			(25,963	)
Miscellaneous - net		(5,236	)		(1,760	)		(1,452	)		(8,448	)
Total		10,850			(35,617	)		3,924			(20,843	)

INTEREST EXPENSE
Interest expense		(32,556	)		(52,428	)		31,014			(53,970	)
Allowance for borrowed funds used during construction		(123	)		-			-			(123	)
Total		(32,679	)		(52,428	)		31,014			(54,093	)

INCOME BEFORE INCOME TAXES		(138,272	)		8,559			(40,095	)		(169,808	)

Income taxes		(377,041	)		27,728			9,158			(340,155	)

CONSOLIDATED NET INCOME		238,769			(19,169	)		(49,253	)		170,347

Preferred dividend requirements of subsidiaries		(2	)		-			-			(2	)

NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$	238,771		$	(19,169	)	$	(49,253	)	$	170,349

EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$	1.54		$	(0.00	)	$	(0.28	)	$	1.26
DILUTED	$	1.56		$	0.01		$	(0.28	)	$	1.29


*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Income Statement
Twelve Months Ended September 30, 2011
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated

OPERATING REVENUES
Electric	$	8,694,708		$	-		$	(2,324	)	$	8,692,383
Natural gas		169,685			-			-			169,685
Competitive businesses		-			2,431,202			(20,126	)		2,411,076
Total		8,864,393			2,431,202			(22,450	)		11,273,144

OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale		2,205,197			296,061			(747	)		2,500,512
Purchased power		1,548,137			62,781			(38,376	)		1,572,541
Nuclear refueling outage expenses		105,143			151,102			-			256,245
Other operation and maintenance		1,937,845			906,680			(9,439	)		2,835,086
Decommissioning		108,084			113,458			-			221,542
Taxes other than income taxes		438,647			100,761			786			540,194
Depreciation and amortization		913,304			175,329			4,542			1,093,174
Other regulatory charges (credits) - net		233,704			-			-			233,704
Total		7,490,061			1,806,172			(43,234	)		9,252,998

Gain on sale of business		-			44,173			-			44,173

OPERATING INCOME		1,374,332			669,203			20,784			2,064,319

OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction		72,949			-			-			72,949
Interest and investment income		185,011			135,923			(162,820	)		158,114
Miscellaneous - net		(26,057	)		(19,107	)		(11,408	)		(56,571	)
Total		231,903			116,816			(174,228	)		174,492

INTEREST EXPENSE
Interest expense		495,664			19,389			41,123			556,177
Allowance for borrowed funds used during construction		(35,102	)		-			-			(35,102	)
Total		460,562			19,389			41,123			521,075

INCOME BEFORE INCOME TAXES		1,145,673			766,630			(194,567	)		1,717,736

Income taxes		77,186			296,377			(96,479	)		277,084

CONSOLIDATED NET INCOME		1,068,487			470,253			(98,088	)		1,440,652

Preferred dividend requirements of subsidiaries		17,329			2,732			-			20,061

NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$	1,051,158		$	467,521		$	(98,088	)	$	1,420,591

EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$	5.89		$	2.62		$	(0.55	)	$	7.96
DILUTED	$	5.86		$	2.60		$	(0.55	)	$	7.91

AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC											178,448,041
DILUTED											179,551,490

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Income Statement
Twelve Months Ended September 30, 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated

OPERATING REVENUES
Electric	$	8,601,969		$	-		$	(2,986	)	$	8,598,983
Natural gas		199,725			-			-			199,725
Competitive businesses		-			2,672,312			(17,893	)		2,654,419
Total		8,801,694			2,672,312			(20,879	)		11,453,127

OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale		2,012,192			311,533			(2,509	)		2,321,216
Purchased power		1,703,152			63,130			(29,506	)		1,736,776
Nuclear refueling outage expenses		109,142			145,108			-			254,250
Other operation and maintenance		1,896,564			1,072,811			(28,645	)		2,940,730
Decommissioning		102,815			105,553			-			208,368
Taxes other than income taxes		417,795			99,239			1,774			518,808
Depreciation and amortization		908,619			159,831			4,534			1,072,984
Other regulatory charges (credits) - net		23,198			-			-			23,198
Total		7,173,477			1,957,205			(54,352	)		9,076,330

Gain on sale of business		-			-			-			-

OPERATING INCOME		1,628,217			715,107			33,473			2,376,797

OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction		58,036			-			-			58,036
Interest and investment income		157,491			198,431			(168,105	)		187,818
Miscellaneous - net		(18,795	)		(24,703	)		(8,037	)		(51,535	)
Total		196,732			173,728			(176,142	)		194,319

INTEREST EXPENSE
Interest expense		527,483			83,965			3,025			614,472
Allowance for borrowed funds used during construction		(33,961	)		-			-			(33,961	)
Total		493,522			83,965			3,025			580,511

INCOME BEFORE INCOME TAXES		1,331,427			804,870			(145,694	)		1,990,605

Income taxes		478,071			267,521			(110,727	)		634,866

CONSOLIDATED NET INCOME		853,356			537,349			(34,967	)		1,355,739

Preferred dividend requirements of subsidiaries		17,331			2,682			-			20,013

NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$	836,025		$	534,667		$	(34,967	)	$	1,335,726

EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$	4.44		$	2.84		$	(0.18	)	$	7.10
DILUTED	$	4.39		$	2.81		$	(0.18	)	$	7.02

AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC											188,227,792
DILUTED											190,257,734

*Totals may not foot due to rounding.

Entergy Corporation

Consolidating Income Statement
Twelve Months Ended September 30, 2011 vs. 2010
(Dollars in thousands)
(Unaudited)

	Utility			Entergy Wholesale Commodities			Parent & Other			Consolidated

OPERATING REVENUES
Electric	$	92,739		$	-		$	662		$	93,400
Natural gas		(30,040	)		-			-			(30,040	)
Competitive businesses		-			(241,110	)		(2,233	)		(243,343	)
Total		62,699			(241,110	)		(1,571	)		(179,983	)

OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale		193,005			(15,472	)		1,762			179,296
Purchased power		(155,015	)		(349	)		(8,870	)		(164,235	)
Nuclear refueling outage expenses		(3,999	)		5,994			-			1,995
Other operation and maintenance		41,281			(166,131	)		19,206			(105,644	)
Decommissioning		5,269			7,905			-			13,174
Taxes other than income taxes		20,852			1,522			(988	)		21,386
Depreciation and amortization		4,685			15,498			8			20,190
Other regulatory charges (credits )- net		210,506			-			-			210,506
Total		316,584			(151,033	)		11,118			176,668

Gain on sale of business		-			44,173			-			44,173

OPERATING INCOME		(253,885	)		(45,904	)		(12,689	)		(312,478	)

OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction		14,913			-			-			14,913
Interest and investment income		27,520			(62,508	)		5,285			(29,704	)
Miscellaneous - net		(7,262	)		5,596			(3,371	)		(5,036	)
Total		35,171			(56,912	)		1,914			(19,827	)

INTEREST EXPENSE
Interest expense		(31,819	)		(64,576	)		38,098			(58,295	)
Allowance for borrowed funds used during construction		(1,141	)		-			-			(1,141	)
Total		(32,960	)		(64,576	)		38,098			(59,436	)

INCOME BEFORE INCOME TAXES		(185,754	)		(38,240	)		(48,873	)		(272,869	)

Income taxes		(400,885	)		28,856			14,248			(357,782	)

CONSOLIDATED NET INCOME		215,131			(67,096	)		(63,121	)		84,913

Preferred dividend requirements of subsidiaries		(2	)		50			-			48

NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION	$	215,133		$	(67,146	)	$	(63,121	)	$	84,865

EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$	1.45		$	(0.22	)	$	(0.37	)	$	0.86
DILUTED	$	1.47		$	(0.21	)	$	(0.37	)	$	0.89


*Totals may not foot due to rounding.

Entergy Corporation

Consolidated Cash Flow Statement
Three Months Ended September 30, 2011 vs. 2010
(Dollars in thousands)
(Unaudited)

	2011			2010			Variance

OPERATING ACTIVITIES
Consolidated net income	$	633,069		$	497,901		$	135,168
Adjustments to reconcile consolidated net income to net cash flow
provided by operating activities:
Depreciation, amortization, and decommissioning, including nuclear fuel amortization		463,702			427,758			35,944
Deferred income taxes, investment tax credits, and non-current taxes accrued		(311,100	)		181,718			(492,818	)
Changes in assets and liabilities:
Receivables		(45,271	)		(65,881	)		20,610
Fuel inventory		18,134			(1,674	)		19,808
Accounts payable		(162,076	)		21,254			(183,330	)
Prepaid taxes and taxes accrued		248,052			35,094			212,958
Interest accrued		(13,903	)		17,833			(31,736	)
Deferred fuel		78,571			(63,585	)		142,156
Other working capital accounts		81,067			(35,460	)		116,527
Provisions for estimated losses		1,346			289,180			(287,834	)
Other regulatory assets		154,198			505,663			(351,465	)
Pensions and other postretirement liabilities		(43,384	)		(68,233	)		24,849
Other assets and liabilities		50,102			(44,313	)		94,415
Net cash flow provided by operating activities		1,152,507			1,697,255			(544,748	)

INVESTING ACTIVITIES
Construction/capital expenditures		(469,375	)		(492,126	)		22,751
Allowance for equity funds used during construction		22,415			15,064			7,351
Nuclear fuel purchases		(72,250	)		(96,951	)		24,701
Proceeds from sale of assets and businesses		6,531			-			6,531
Insurance proceeds received for property damages		-			7,894			(7,894	)
Changes in securitization account		(9,549	)		(654	)		(8,895	)
Payments to storm reserve escrow account		(1,749	)		(291,871	)		290,122
Decrease (increase) in other investments		(17,699	)		62,266			(79,965	)
Proceeds from nuclear decommissioning trust fund sales		416,730			486,621			(69,891	)
Investment in nuclear decommissioning trust funds		(442,834	)		(512,086	)		69,252
Net cash flow used in investing activities		(567,780	)		(821,843	)		254,063

FINANCING ACTIVITIES
Proceeds from the issuance of:
Long-term debt		460,454			1,746,435			(1,285,981	)
Common stock and treasury stock		15,931			37,047			(21,116	)
Retirement of long-term debt		(391,461	)		(1,339,155	)		947,694
Repurchase of common stock		(75,030	)		(527,875	)		452,845
Changes in credit line borrowings - net		14,076			(36,055	)		50,131
Dividends paid:
Common stock		(146,935	)		(154,887	)		7,952
Preferred stock		(5,015	)		(5,015	)		-
Net cash flow used in financing activities		(127,980	)		(279,505	)		151,525

Effect of exchange rates on cash and cash equivalents		535			(512	)		1,047

Net increase (decrease) in cash and cash equivalents		457,282			595,395			(138,113	)

Cash and cash equivalents at beginning of period		529,858			1,335,524			(805,666	)

Cash and cash equivalents at end of period	$	987,140		$	1,930,919		$	(943,779	)

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest - net of amount capitalized	$	146,032		$	131,500		$	14,532
Income taxes	$	(88	)	$	6,910		$	(6,998	)

Entergy Corporation

Consolidated Cash Flow Statement
Nine Months Ended September 30, 2011 vs. 2010
(Dollars in thousands)
(Unaudited)

	2011			2010			Variance

OPERATING ACTIVITIES
Consolidated net income	$	1,207,346		$	1,036,999		$	170,347
Adjustments to reconcile consolidated net income to net cash flow
provided by operating activities:
Depreciation, amortization, and decommissioning, including nuclear fuel amortization		1,315,730			1,259,543			56,187
Deferred income taxes, investment tax credits, and non-current taxes accrued		(5,979	)		524,359			(530,338	)
Changes in assets and liabilities:
Receivables		(213,524	)		(243,326	)		29,802
Fuel inventory		12,677			3,328			9,349
Accounts payable		(238,879	)		44,348			(283,227	)
Prepaid taxes and taxes accrued		245,242			45,198			200,044
Interest accrued		(53,307	)		(10,982	)		(42,325	)
Deferred fuel		(119,481	)		(65,655	)		(53,826	)
Other working capital accounts		(31,319	)		(162,284	)		130,965
Provisions for estimated losses		(4,608	)		258,962			(263,570	)
Other regulatory assets		250,747			482,960			(232,213	)
Pensions and other postretirement liabilities		(275,690	)		(142,420	)		(133,270	)
Other assets and liabilities		40,801			134,059			(93,258	)
Net cash flow provided by operating activities		2,129,756			3,165,089			(1,035,333	)

INVESTING ACTIVITIES
Construction/capital expenditures		(1,460,668	)		(1,410,708	)		(49,960	)
Allowance for equity funds used during construction		61,096			45,990			15,106
Nuclear fuel purchases		(475,418	)		(315,780	)		(159,638	)
Payment for purchase of plant		(299,590	)		-			(299,590	)
Proceeds from sale of assets and businesses		6,531			9,675			(3,144	)
Insurance proceeds received for property damages		-			7,894			(7,894	)
Changes in securitization account		(443	)		(23,182	)		22,739
NYPA value sharing payment		(72,000	)		(72,000	)		-
Payments to storm reserve escrow account		(5,043	)		(294,901	)		289,858
Receipts from storm reserve escrow account		-			9,925			(9,925	)
Decrease (increase) in other investments		(60,693	)		117,696			(178,389	)
Proceeds from nuclear decommissioning trust fund sales		1,053,089			1,974,008			(920,919	)
Investment in nuclear decommissioning trust funds		(1,142,364	)		(2,043,361	)		900,997
Net cash flow used in investing activities		(2,395,503	)		(1,994,744	)		(400,759	)

FINANCING ACTIVITIES
Proceeds from the issuance of:
Long-term debt		1,535,634			2,272,224			(736,590	)
Common stock and treasury stock		32,889			45,763			(12,874	)
Retirement of long-term debt		(947,401	)		(2,113,927	)		1,166,526
Repurchase of common stock		(234,632	)		(665,624	)		430,992
Changes in credit line borrowings - net		30,036			(18,932	)		48,968
Dividends paid:
Common stock		(443,290	)		(453,683	)		10,393
Preferred stock		(15,046	)		(15,048	)		2
Net cash flow used in financing activities		(41,810	)		(949,227	)		907,417

Effect of exchange rates on cash and cash equivalents		225			250			(25	)

Net increase (decrease) in cash and cash equivalents		(307,332	)		221,368			(528,700	)

Cash and cash equivalents at beginning of period		1,294,472			1,709,551			(415,079	)

Cash and cash equivalents at end of period	$	987,140		$	1,930,919		$	(943,779	)

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest - net of amount capitalized	$	413,525		$	400,124		$	13,401
Income taxes	$	(11	)	$	32,964		$	(32,975	)

Entergy Corporation

Consolidated Cash Flow Statement
Twelve Months Ended September 30, 2011 vs. 2010
(Dollars in thousands)
(Unaudited)

	2011			2010			Variance

OPERATING ACTIVITIES
Consolidated net income	$	1,440,652		$	1,355,739		$	84,913
Adjustments to reconcile consolidated net income to net cash flow
provided by operating activities:
Depreciation, amortization, and decommissioning, including nuclear fuel amortization		1,761,518			1,642,289			119,229
Deferred income taxes, investment tax credits, and non-current taxes accrued		188,649			876,248			(687,599	)
Gain on sale of business		(44,173	)		-			(44,173	)
Changes in assets and liabilities:
Receivables		(69,838	)		(141,738	)		71,900
Fuel inventory		(1,316	)		12,789			(14,105	)
Accounts payable		(66,592	)		219,683			(286,275	)
Prepaid taxes and taxes accrued		83,056			(261,762	)		344,818
Interest accrued		(24,674	)		6,168			(30,842	)
Deferred fuel		(44,917	)		(189,452	)		144,535
Other working capital accounts		(29,361	)		(88,004	)		58,643
Provisions for estimated losses		1,714			257,258			(255,544	)
Other regulatory assets		107,195			400,350			(293,155	)
Pensions and other postretirement liabilities		(214,114	)		(17,917	)		(196,197	)
Other assets and liabilities		(197,051	)		17,265			(214,316	)
Net cash flow provided by operating activities		2,890,748			4,088,916			(1,198,168	)

INVESTING ACTIVITIES
Construction/capital expenditures		(2,024,246	)		(1,999,113	)		(25,133	)
Allowance for equity funds used during construction		74,487			58,036			16,451
Nuclear fuel purchases		(567,349	)		(549,533	)		(17,816	)
Proceeds from sale/leaseback of nuclear fuel		-			87,291			(87,291	)
Payment for purchase of plant		(299,590	)		-			(299,590	)
Proceeds from sale of assets and businesses		225,027			10,175			214,852
Insurance proceeds received for property damages		-			28,740			(28,740	)
Changes in securitization account		(7,206	)		(15,859	)		8,653
NYPA value sharing payment		(72,000	)		(72,000	)		-
Payments to storm reserve escrow account		(6,756	)		(296,545	)		289,789
Receipts from storm reserve escrow account		-			9,925			(9,925	)
Decrease (increase) in other investments		(153,433	)		189,189			(342,622	)
Proceeds from nuclear decommissioning trust fund sales		1,685,464			2,811,161			(1,125,697	)
Investment in nuclear decommissioning trust funds		(1,829,380	)		(2,902,944	)		1,073,564
Net cash flow used in investing activities		(2,974,982	)		(2,641,477	)		(333,505	)

FINANCING ACTIVITIES
Proceeds from the issuance of:
Long-term debt		3,134,104			3,494,196			(360,092	)
Common stock and treasury stock		38,289			56,746			(18,457	)
Retirement of long-term debt		(3,011,601	)		(2,872,364	)		(139,237	)
Repurchase of common stock		(447,584	)		(665,624	)		218,040
Changes in credit line borrowings - net		40,456			(43,932	)		84,388
Dividends paid:
Common stock		(593,461	)		(595,461	)		2,000
Preferred stock		(20,061	)		(20,013	)		(48	)
Net cash flow used in financing activities		(859,858	)		(646,452	)		(213,406	)

Effect of exchange rates on cash and cash equivalents		313			(848	)		1,161

Net increase (decrease) in cash and cash equivalents		(943,779	)		800,139			(1,743,918	)

Cash and cash equivalents at beginning of period		1,930,919			1,130,780			800,139

Cash and cash equivalents at end of period	$	987,140		$	1,930,919		$	(943,779	)

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest - net of amount capitalized	$	547,405		$	545,563		$	1,842
Income taxes	$	(831	)	$	57,106		$	(57,937	)

ENTERGY CORP /DE/ - FORM 8-K - EX-99.1 - November 1, 2011

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