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Risk Management And Fair Values (Tables) | 3 Months Ended
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Mar. 31, 2016
Fair Values Of Derivative Instruments | The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of March 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging.
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Offset (b) |  | Net (c) (d) |  | Business
|  |  |  | (In Millions) |  |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |
Electricity swaps and options |  | Prepayments and other (current portion) |  | $120 |  | ($26) |  | $94 |  | Entergy Wholesale Commodities
Electricity swaps and options |  | Other deferred debits and other assets (non-current portion) |  | $20 |  | ($1) |  | $19 |  | Entergy Wholesale Commodities
Liabilities: |  |  |  |  |  |  |  |  |  |
Electricity swaps and options |  | Other current liabilities (current portion) |  | $1 |  | ($1) |  | $— |  | Entergy Wholesale Commodities
Electricity swaps and options |  | Other non-current liabilities (non-current portion) |  | $1 |  | ($1) |  | $— |  | Entergy Wholesale Commodities
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |
Electricity swaps and options |  | Prepayments and other (current portion) |  | $94 |  | ($24) |  | $70 |  | Entergy Wholesale Commodities
FTRs |  | Prepayments and other |  | $9 |  | $— |  | $9 |  | Utility and Entergy Wholesale Commodities
Liabilities: |  |  |  |  |  |  |  |  |  |
Electricity swaps and options |  | Other current liabilities(current portion) |  | $49 |  | ($49) |  | $— |  | Entergy Wholesale Commodities
Natural gas swaps |  | Other current liabilities |  | $9 |  | $— |  | $9 |  | Utility
The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging.
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Offset (b) |  | Net (c) (d) |  | Business
|  |  |  | (In Millions) |  |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |
Electricity swaps and options |  | Prepayments and other (current portion) |  | $173 |  | ($34) |  | $139 |  | Entergy Wholesale Commodities
Electricity swaps and options |  | Other deferred debits and other assets (non-current portion) |  | $17 |  | ($2) |  | $15 |  | Entergy Wholesale Commodities
Liabilities: |  |  |  |  |  |  |  |  |  |
Electricity swaps and options |  | Other current liabilities (current portion) |  | $14 |  | ($14) |  | $— |  | Entergy Wholesale Commodities
Electricity swaps and options |  | Other non-current liabilities (non-current portion) |  | $2 |  | ($2) |  | $— |  | Entergy Wholesale Commodities
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |
Electricity swaps and options |  | Prepayments and other (current portion) |  | $54 |  | ($13) |  | $41 |  | Entergy Wholesale Commodities
FTRs |  | Prepayments and other |  | $24 |  | ($1) |  | $23 |  | Utility and Entergy Wholesale Commodities
Liabilities: |  |  |  |  |  |  |  |  |  |
Electricity swaps and options |  | Other current liabilities (current portion) |  | $38 |  | ($32) |  | $6 |  | Entergy Wholesale Commodities
Natural gas swaps |  | Other current liabilities |  | $9 |  | $— |  | $9 |  | Utility
Derivative Instruments Designated As Cash Flow Hedges On Consolidated Statements Of Income |
The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the three months ended March 31, 2016 and 2015 are as follows:
Instrument |  | Amount of gain (loss) recognized in other comprehensive income |  | Income Statement location |  | Amount of gain (loss) reclassified from AOCI into income (a)
|  | (In Millions) |  |  |  | (In Millions)
2016 |  |  |  |  |  |
Electricity swaps and options |  | $139 |  | Competitive businesses operating revenues |  | $154
2015 |  |  |  |  |  |
Electricity swaps and options |  | ($32) |  | Competitive businesses operating revenues |  | $14
(a) | Before taxes of $54 million and $5 million for the three months ended March 31, 2016 and 2015, respectively
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated statements of operations for the three months ended March 31, 2016 and 2015 are as follows:
Instrument |  | Amount of gain (loss) recognized in AOCI |  | Income Statement location |  | Amount of gain (loss) recorded in the income statement
|  | (In Millions) |  |  |  | (In Millions)
2016 |  |  |  |  |  |
Natural gas swaps |  | $— |  | Fuel, fuel-related expenses, and gas purchased for resale | (a) | ($24)
FTRs |  | $— |  | Purchased power expense | (b) | $21
Electricity swaps and options de-designated as hedged items |  | $25 |  | Competitive business operating revenues |  | $—
2015 |  |  |  |  |  |
Natural gas swaps |  | $— |  | Fuel, fuel-related expenses, and gas purchased for resale | (a) | ($19)
FTRs |  | $— |  | Purchased power expense | (b) | $33
Electricity swaps and options de-designated as hedged items |  | $4 |  | Competitive business operating revenues |  | ($34)
(a) | Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms.
(b) | Due to regulatory treatment, the changes in the estimated fair value of FTRs for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms.
Assets and liabilities at fair value on a recurring basis | The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of March 31, 2016 and December 31, 2015. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.
2016 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $1,010 |  |  |  | $— |  |  |  | $— |  |  |  | $1,010 |
Funds held on deposit |  | 197 |  |  | — |  |  | — |  |  | 197 |
Decommissioning trust funds (a): |  |  |  |  |  |  |  |
Equity securities |  | 446 |  |  | — |  |  | — |  |  | 446 |
Debt securities |  | 1,060 |  |  | 1,189 |  |  | — |  |  | 2,249 |
Common trusts (b) |  |  |  |  |  |  |  | 2,757 |
Power contracts |  | — |  |  | — |  |  | 183 |  |  | 183 |
Securitization recovery trust account |  | 52 |  |  | — |  |  | — |  |  | 52 |
Escrow accounts |  | 454 |  |  | — |  |  | — |  |  | 454 |
FTRs |  | — |  |  | — |  |  | 9 |  |  | 9 |
|  |  | $3,219 |  |  |  | $1,189 |  |  |  | $192 |  |  |  | $7,357 |
Liabilities: |  |  |  |  |  |  |  |
Gas hedge contracts |  |  | $9 |  |  |  | $— |  |  |  | $— |  |  |  | $9 |
2015 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $1,287 |  |  |  | $— |  |  |  | $— |  |  |  | $1,287 |
Decommissioning trust funds (a): |  |  |  |  |  |  |  |
Equity securities |  | 468 |  |  | — |  |  | — |  |  | 468 |
Debt securities |  | 1,061 |  |  | 1,094 |  |  | — |  |  | 2,155 |
Common trusts (b) |  |  |  |  |  |  |  | 2,727 |
Power contracts |  | — |  |  | — |  |  | 195 |  |  | 195 |
Securitization recovery trust account |  | 50 |  |  | — |  |  | — |  |  | 50 |
Escrow accounts |  | 425 |  |  | — |  |  | — |  |  | 425 |
FTRs |  | — |  |  | — |  |  | 23 |  |  | 23 |
|  |  | $3,291 |  |  |  | $1,094 |  |  |  | $218 |  |  |  | $7,330 |
Liabilities: |  |  |  |  |  |  |  |
Power contracts |  |  | $— |  |  |  | $— |  |  |  | $6 |  |  |  | $6 |
Gas hedge contracts |  | 9 |  |  | — |  |  | — |  |  | 9 |
|  |  | $9 |  |  |  | $— |  |  |  | $6 |  |  |  | $15 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2016 and 2015:
| 2016 |  | 2015
| Power Contracts |  | FTRs |  | Power Contracts |  | FTRs
| (In Millions)
Balance as of January 1, |  | $189 |  |  |  | $23 |  |  |  | $215 |  |  |  | $47 |
Total gains (losses) for the period (a) |  |  |  |  |  |  |
Included in earnings | — |  |  | — |  |  | (35 | ) |  | — |
Included in OCI | 139 |  |  | — |  |  | (26 | ) |  | — |
Included as a regulatory liability/asset | — |  |  | 7 |  |  | — |  |  | 1 |
Purchases | — |  |  | — |  |  | 10 |  |  | — |
Settlements | (145 | ) |  | (21 | ) |  | (19 | ) |  | (33 | )
Balance as of March 31, |  | $183 |  |  |  | $9 |  |  |  | $145 |  |  |  | $15 |
(a) | Change in unrealized gains or losses for the period included in earnings for derivatives held at the end of the reporting period is $6 million for the three months ended March 31, 2016 and ($87) million for the three months ended March 31, 2015
Fair Value Inputs Liabilities Quantitative Information | The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy and significant unobservable inputs to each which cause that classification as of March 31, 2016:
Transaction Type |  | Fair Value as of March 31, 2016 |  | Significant Unobservable Inputs |  | Range from Average % |  | Effect on Fair Value
|  | (In Millions) |  |  |  |  |  |  | (In Millions)
Power contracts - electricity swaps |  | $149 |  | Unit contingent discount |  | +/- | 3% |  | $7
Power contracts - electricity options |  | $34 |  | Implied volatility |  | +/- | 30% |  | $10
Entergy Arkansas [Member] |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2016 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $3.7 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $3.3 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $0.6 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.6 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.8 |  | Entergy Mississippi
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $7.9 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $8.5 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $2.4 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $1.5 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $2.2 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.0 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.3 |  | Entergy Mississippi
Natural gas swaps |  | Other current liabilities |  | $0.5 |  | Entergy New Orleans
(a) | Excludes letters of credit in the amount of $0.4 million posted by Entergy Mississippi as of March 31, 2016. No cash collateral was required to be posted as of March 31, 2016 and December 31, 2015, respectively.
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2016 and 2015 are as follows:
Instrument |  | Income Statement Location |  | Amount of gain (loss) recorded in the income statement |  | Registrant
|  |  |  | (In Millions) |  |
2016 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($19.3) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($4.1) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $7.8 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $10.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $0.8 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $0.5 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $1.5 | (b) | Entergy Texas
2015 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($16.0) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($3.0) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $15.1 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $14.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $3.3 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $1.6 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | ($1.4) | (b) | Entergy Texas
(a) | Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms.
(b) | Due to regulatory treatment, the changes in the estimated fair value of FTRs for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms.
Assets and liabilities at fair value on a recurring basis | Entergy Arkansas
2016 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $13.4 |  |  |  | $— |  |  |  | $— |  |  |  | $13.4 |
Decommissioning trust funds (a): |  |  |  |  |  |  |  |
Equity securities |  | 5.2 |  |  | — |  |  | — |  |  | 5.2 |
Debt securities |  | 102.3 |  |  | 208.9 |  |  | — |  |  | 311.2 |
Common trusts (b) |  |  |  |  |  |  |  | 469.1 |
Securitization recovery trust account |  | 7.6 |  |  | — |  |  | — |  |  | 7.6 |
Escrow accounts |  | 19.3 |  |  | — |  |  | — |  |  | 19.3 |
FTRs |  | — |  |  | — |  |  | 3.7 |  |  | 3.7 |
|  |  | $147.8 |  |  |  | $208.9 |  |  |  | $3.7 |  |  |  | $829.5 |
2015 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Decommissioning trust funds (a): |  |  |  |  |  |  |  |
Equity securities |  |  | $3.0 |  |  |  | $— |  |  |  | $— |  |  |  | $3.0 |
Debt securities |  | 110.5 |  |  | 193.4 |  |  | — |  |  | 303.9 |
Common trusts (b) |  |  |  |  |  |  |  | 464.4 |
Securitization recovery trust account |  | 4.2 |  |  | — |  |  | — |  |  | 4.2 |
Escrow accounts |  | 12.2 |  |  | — |  |  | — |  |  | 12.2 |
FTRs |  | — |  |  | — |  |  | 7.9 |  |  | 7.9 |
|  |  | $129.9 |  |  |  | $193.4 |  |  |  | $7.9 |  |  |  | $795.6 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2016.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $7.9 |  |  |  | $8.5 |  |  |  | $2.4 |  |  |  | $1.5 |  |  |  | $2.2 |
Gains (losses) included as a regulatory liability/asset | 3.6 |  |  | 5.3 |  |  | (0.7 | ) |  | (0.4 | ) |  | 0.2 |
Settlements | (7.8 | ) |  | (10.5 | ) |  | (0.8 | ) |  | (0.5 | ) |  | (1.5 | )
Balance as of March 31, |  | $3.7 |  |  |  | $3.3 |  |  |  | $0.9 |  |  |  | $0.6 |  |  |  | $0.9 |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $0.7 |  |  |  | $25.5 |  |  |  | $3.4 |  |  |  | $4.1 |  |  |  | $12.3 |
Gains (losses) included as a regulatory liability/asset | 15.0 |  |  | (2.2 | ) |  | 0.8 |  |  | (1.1 | ) |  | (10.3 | )
Settlements | (15.1 | ) |  | (14.5 | ) |  | (3.3 | ) |  | (1.6 | ) |  | 1.4 |
Balance as of March 31, |  | $0.6 |  |  |  | $8.8 |  |  |  | $0.9 |  |  |  | $1.4 |  |  |  | $3.4 |
Entergy Louisiana [Member] |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2016 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $3.7 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $3.3 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $0.6 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.6 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.8 |  | Entergy Mississippi
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $7.9 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $8.5 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $2.4 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $1.5 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $2.2 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.0 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.3 |  | Entergy Mississippi
Natural gas swaps |  | Other current liabilities |  | $0.5 |  | Entergy New Orleans
(a) | Excludes letters of credit in the amount of $0.4 million posted by Entergy Mississippi as of March 31, 2016. No cash collateral was required to be posted as of March 31, 2016 and December 31, 2015, respectively.
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2016 and 2015 are as follows:
Instrument |  | Income Statement Location |  | Amount of gain (loss) recorded in the income statement |  | Registrant
|  |  |  | (In Millions) |  |
2016 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($19.3) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($4.1) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $7.8 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $10.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $0.8 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $0.5 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $1.5 | (b) | Entergy Texas
2015 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($16.0) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($3.0) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $15.1 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $14.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $3.3 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $1.6 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | ($1.4) | (b) | Entergy Texas
(a) | Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms.
(b) | Due to regulatory treatment, the changes in the estimated fair value of FTRs for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms.
Assets and liabilities at fair value on a recurring basis | Entergy Louisiana
2016 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $100.0 |  |  |  | $— |  |  |  | $— |  |  |  | $100.0 |
Funds held on deposit |  | 196.6 |  |  | — |  |  | — |  |  | 196.6 |
Decommissioning trust funds (a): |  |  |  |  |  |  |  |
Equity securities |  | 8.5 |  |  | — |  |  | — |  |  | 8.5 |
Debt securities |  | 154.5 |  |  | 267.7 |  |  | — |  |  | 422.2 |
Common trusts (b) |  |  |  |  |  |  |  | 634.5 |
Escrow accounts |  | 304.9 |  |  | — |  |  | — |  |  | 304.9 |
Securitization recovery trust account |  | 8.7 |  |  | — |  |  | — |  |  | 8.7 |
FTRs |  | — |  |  | — |  |  | 3.3 |  |  | 3.3 |
|  |  | $773.2 |  |  |  | $267.7 |  |  |  | $3.3 |  |  |  | $1,678.7 |
Liabilities: |  |  |  |  |  |  |  |
Gas hedge contracts |  |  | $7.6 |  |  |  | $— |  |  |  | $— |  |  |  | $7.6 |
2015 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $34.8 |  |  |  | $— |  |  |  | $— |  |  |  | $34.8 |
Decommissioning trust funds (a): |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | 7.1 |  |  | — |  |  | — |  |  | 7.1 |
Debt securities |  | 161.1 |  |  | 248.8 |  |  | — |  |  | 409.9 |
Common trusts (b) |  |  |  |  |  |  |  | 625.3 |
Escrow accounts |  | 290.4 |  |  | — |  |  | — |  |  | 290.4 |
Securitization recovery trust account |  | 3.2 |  |  | — |  |  | — |  |  | 3.2 |
FTRs |  | — |  |  | — |  |  | 8.5 |  |  | 8.5 |
|  |  | $496.6 |  |  |  | $248.8 |  |  |  | $8.5 |  |  |  | $1,379.2 |
Liabilities: |  |  |  |  |  |  |  |
Gas hedge contracts |  |  | $7.0 |  |  |  | $— |  |  |  | $— |  |  |  | $7.0 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2016.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $7.9 |  |  |  | $8.5 |  |  |  | $2.4 |  |  |  | $1.5 |  |  |  | $2.2 |
Gains (losses) included as a regulatory liability/asset | 3.6 |  |  | 5.3 |  |  | (0.7 | ) |  | (0.4 | ) |  | 0.2 |
Settlements | (7.8 | ) |  | (10.5 | ) |  | (0.8 | ) |  | (0.5 | ) |  | (1.5 | )
Balance as of March 31, |  | $3.7 |  |  |  | $3.3 |  |  |  | $0.9 |  |  |  | $0.6 |  |  |  | $0.9 |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $0.7 |  |  |  | $25.5 |  |  |  | $3.4 |  |  |  | $4.1 |  |  |  | $12.3 |
Gains (losses) included as a regulatory liability/asset | 15.0 |  |  | (2.2 | ) |  | 0.8 |  |  | (1.1 | ) |  | (10.3 | )
Settlements | (15.1 | ) |  | (14.5 | ) |  | (3.3 | ) |  | (1.6 | ) |  | 1.4 |
Balance as of March 31, |  | $0.6 |  |  |  | $8.8 |  |  |  | $0.9 |  |  |  | $1.4 |  |  |  | $3.4 |
Entergy Mississippi [Member] |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2016 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $3.7 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $3.3 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $0.6 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.6 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.8 |  | Entergy Mississippi
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $7.9 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $8.5 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $2.4 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $1.5 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $2.2 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.0 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.3 |  | Entergy Mississippi
Natural gas swaps |  | Other current liabilities |  | $0.5 |  | Entergy New Orleans
(a) | Excludes letters of credit in the amount of $0.4 million posted by Entergy Mississippi as of March 31, 2016. No cash collateral was required to be posted as of March 31, 2016 and December 31, 2015, respectively.
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2016 and 2015 are as follows:
Instrument |  | Income Statement Location |  | Amount of gain (loss) recorded in the income statement |  | Registrant
|  |  |  | (In Millions) |  |
2016 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($19.3) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($4.1) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $7.8 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $10.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $0.8 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $0.5 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $1.5 | (b) | Entergy Texas
2015 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($16.0) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($3.0) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $15.1 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $14.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $3.3 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $1.6 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | ($1.4) | (b) | Entergy Texas
(a) | Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms.
(b) | Due to regulatory treatment, the changes in the estimated fair value of FTRs for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms.
Assets and liabilities at fair value on a recurring basis | Entergy Mississippi
2016 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $112.7 |  |  |  | $— |  |  |  | $— |  |  |  | $112.7 |
Escrow accounts |  | 41.8 |  |  | — |  |  | — |  |  | 41.8 |
FTRs |  | — |  |  | — |  |  | 0.9 |  |  | 0.9 |
|  |  | $154.5 |  |  |  | $— |  |  |  | $0.9 |  |  |  | $155.4 |
Liabilities: |  |  |  |  |  |  |  |
Gas hedge contracts |  |  | $1.8 |  |  |  | $— |  |  |  | $— |  |  |  | $1.8 |
2015 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $144.2 |  |  |  | $— |  |  |  | $— |  |  |  | $144.2 |
Escrow accounts |  | 41.7 |  |  | — |  |  | — |  |  | 41.7 |
FTRs |  | — |  |  | — |  |  | 2.4 |  |  | 2.4 |
|  |  | $185.9 |  |  |  | $— |  |  |  | $2.4 |  |  |  | $188.3 |
Liabilities: |  |  |  |  |  |  |  |
Gas hedge contracts |  |  | $1.3 |  |  |  | $— |  |  |  | $— |  |  |  | $1.3 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2016.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $7.9 |  |  |  | $8.5 |  |  |  | $2.4 |  |  |  | $1.5 |  |  |  | $2.2 |
Gains (losses) included as a regulatory liability/asset | 3.6 |  |  | 5.3 |  |  | (0.7 | ) |  | (0.4 | ) |  | 0.2 |
Settlements | (7.8 | ) |  | (10.5 | ) |  | (0.8 | ) |  | (0.5 | ) |  | (1.5 | )
Balance as of March 31, |  | $3.7 |  |  |  | $3.3 |  |  |  | $0.9 |  |  |  | $0.6 |  |  |  | $0.9 |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $0.7 |  |  |  | $25.5 |  |  |  | $3.4 |  |  |  | $4.1 |  |  |  | $12.3 |
Gains (losses) included as a regulatory liability/asset | 15.0 |  |  | (2.2 | ) |  | 0.8 |  |  | (1.1 | ) |  | (10.3 | )
Settlements | (15.1 | ) |  | (14.5 | ) |  | (3.3 | ) |  | (1.6 | ) |  | 1.4 |
Balance as of March 31, |  | $0.6 |  |  |  | $8.8 |  |  |  | $0.9 |  |  |  | $1.4 |  |  |  | $3.4 |
Entergy New Orleans [Member] |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2016 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $3.7 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $3.3 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $0.6 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.6 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.8 |  | Entergy Mississippi
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $7.9 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $8.5 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $2.4 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $1.5 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $2.2 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.0 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.3 |  | Entergy Mississippi
Natural gas swaps |  | Other current liabilities |  | $0.5 |  | Entergy New Orleans
(a) | Excludes letters of credit in the amount of $0.4 million posted by Entergy Mississippi as of March 31, 2016. No cash collateral was required to be posted as of March 31, 2016 and December 31, 2015, respectively.
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2016 and 2015 are as follows:
Instrument |  | Income Statement Location |  | Amount of gain (loss) recorded in the income statement |  | Registrant
|  |  |  | (In Millions) |  |
2016 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($19.3) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($4.1) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $7.8 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $10.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $0.8 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $0.5 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $1.5 | (b) | Entergy Texas
2015 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($16.0) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($3.0) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $15.1 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $14.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $3.3 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $1.6 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | ($1.4) | (b) | Entergy Texas
(a) | Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms.
(b) | Due to regulatory treatment, the changes in the estimated fair value of FTRs for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms.
Assets and liabilities at fair value on a recurring basis | Entergy New Orleans
2016 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $5.3 |  |  |  | $— |  |  |  | $— |  |  |  | $5.3 |
Securitization recovery trust account |  | 7.4 |  |  | — |  |  | — |  |  | 7.4 |
Escrow accounts |  | 88.2 |  |  | — |  |  | — |  |  | 88.2 |
FTRs |  | — |  |  | — |  |  | 0.6 |  |  | 0.6 |
|  |  | $100.9 |  |  |  | $— |  |  |  | $0.6 |  |  |  | $101.5 |
2015 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $87.8 |  |  |  | $— |  |  |  | $— |  |  |  | $87.8 |
Securitization recovery trust account |  | 4.6 |  |  | — |  |  | — |  |  | 4.6 |
Escrow accounts |  | 81.0 |  |  | — |  |  | — |  |  | 81.0 |
FTRs |  | — |  |  | — |  |  | 1.5 |  |  | 1.5 |
|  |  | $173.4 |  |  |  | $— |  |  |  | $1.5 |  |  |  | $174.9 |
Liabilities: |  |  |  |  |  |  |  |
Gas hedge contracts |  |  | $0.5 |  |  |  | $— |  |  |  | $— |  |  |  | $0.5 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2016.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $7.9 |  |  |  | $8.5 |  |  |  | $2.4 |  |  |  | $1.5 |  |  |  | $2.2 |
Gains (losses) included as a regulatory liability/asset | 3.6 |  |  | 5.3 |  |  | (0.7 | ) |  | (0.4 | ) |  | 0.2 |
Settlements | (7.8 | ) |  | (10.5 | ) |  | (0.8 | ) |  | (0.5 | ) |  | (1.5 | )
Balance as of March 31, |  | $3.7 |  |  |  | $3.3 |  |  |  | $0.9 |  |  |  | $0.6 |  |  |  | $0.9 |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $0.7 |  |  |  | $25.5 |  |  |  | $3.4 |  |  |  | $4.1 |  |  |  | $12.3 |
Gains (losses) included as a regulatory liability/asset | 15.0 |  |  | (2.2 | ) |  | 0.8 |  |  | (1.1 | ) |  | (10.3 | )
Settlements | (15.1 | ) |  | (14.5 | ) |  | (3.3 | ) |  | (1.6 | ) |  | 1.4 |
Balance as of March 31, |  | $0.6 |  |  |  | $8.8 |  |  |  | $0.9 |  |  |  | $1.4 |  |  |  | $3.4 |
Entergy Texas [Member] |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2016 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $3.7 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $3.3 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $0.6 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $0.9 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.6 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.8 |  | Entergy Mississippi
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows:
Instrument |  | Balance Sheet Location |  | Fair Value (a) |  | Registrant
|  |  |  | (In Millions) |  |
Assets: |  |  |  |  |  |
FTRs |  | Prepayments and other |  | $7.9 |  | Entergy Arkansas
FTRs |  | Prepayments and other |  | $8.5 |  | Entergy Louisiana
FTRs |  | Prepayments and other |  | $2.4 |  | Entergy Mississippi
FTRs |  | Prepayments and other |  | $1.5 |  | Entergy New Orleans
FTRs |  | Prepayments and other |  | $2.2 |  | Entergy Texas
Liabilities: |  |  |  |  |  |
Natural gas swaps |  | Other current liabilities |  | $7.0 |  | Entergy Louisiana
Natural gas swaps |  | Other current liabilities |  | $1.3 |  | Entergy Mississippi
Natural gas swaps |  | Other current liabilities |  | $0.5 |  | Entergy New Orleans
(a) | Excludes letters of credit in the amount of $0.4 million posted by Entergy Mississippi as of March 31, 2016. No cash collateral was required to be posted as of March 31, 2016 and December 31, 2015, respectively.
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2016 and 2015 are as follows:
Instrument |  | Income Statement Location |  | Amount of gain (loss) recorded in the income statement |  | Registrant
|  |  |  | (In Millions) |  |
2016 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($19.3) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($4.1) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $7.8 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $10.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $0.8 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $0.5 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $1.5 | (b) | Entergy Texas
2015 |  |  |  |  |  |
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($16.0) | (a) | Entergy Louisiana
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($3.0) | (a) | Entergy Mississippi
Natural gas swaps |  | Fuel, fuel-related expenses, and gas purchased for resale |  | ($0.5) | (a) | Entergy New Orleans
FTRs |  | Purchased power expense |  | $15.1 | (b) | Entergy Arkansas
FTRs |  | Purchased power expense |  | $14.5 | (b) | Entergy Louisiana
FTRs |  | Purchased power expense |  | $3.3 | (b) | Entergy Mississippi
FTRs |  | Purchased power expense |  | $1.6 | (b) | Entergy New Orleans
FTRs |  | Purchased power expense |  | ($1.4) | (b) | Entergy Texas
(a) | Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms.
(b) | Due to regulatory treatment, the changes in the estimated fair value of FTRs for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms.
Assets and liabilities at fair value on a recurring basis | Entergy Texas
2016 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $64.8 |  |  |  | $— |  |  |  | $— |  |  |  | $64.8 |
Securitization recovery trust account |  | 27.9 |  |  | — |  |  | — |  |  | 27.9 |
FTRs |  | — |  |  | — |  |  | 0.9 |  |  | 0.9 |
|  |  | $92.7 |  |  |  | $— |  |  |  | $0.9 |  |  |  | $93.6 |
2015 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Securitization recovery trust account |  |  | $38.2 |  |  |  | $— |  |  |  | $— |  |  |  | $38.2 |
FTRs |  | — |  |  | — |  |  | 2.2 |  |  | 2.2 |
|  |  | $38.2 |  |  |  | $— |  |  |  | $2.2 |  |  |  | $40.4 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2016.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $7.9 |  |  |  | $8.5 |  |  |  | $2.4 |  |  |  | $1.5 |  |  |  | $2.2 |
Gains (losses) included as a regulatory liability/asset | 3.6 |  |  | 5.3 |  |  | (0.7 | ) |  | (0.4 | ) |  | 0.2 |
Settlements | (7.8 | ) |  | (10.5 | ) |  | (0.8 | ) |  | (0.5 | ) |  | (1.5 | )
Balance as of March 31, |  | $3.7 |  |  |  | $3.3 |  |  |  | $0.9 |  |  |  | $0.6 |  |  |  | $0.9 |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015.
| Entergy Arkansas |  | Entergy Louisiana |  | Entergy Mississippi |  | Entergy New Orleans |  | Entergy Texas
| (In Millions)
Balance as of January 1, |  | $0.7 |  |  |  | $25.5 |  |  |  | $3.4 |  |  |  | $4.1 |  |  |  | $12.3 |
Gains (losses) included as a regulatory liability/asset | 15.0 |  |  | (2.2 | ) |  | 0.8 |  |  | (1.1 | ) |  | (10.3 | )
Settlements | (15.1 | ) |  | (14.5 | ) |  | (3.3 | ) |  | (1.6 | ) |  | 1.4 |
Balance as of March 31, |  | $0.6 |  |  |  | $8.8 |  |  |  | $0.9 |  |  |  | $1.4 |  |  |  | $3.4 |
System Energy [Member] |
Assets and liabilities at fair value on a recurring basis | System Energy
2016 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $255.0 |  |  |  | $— |  |  |  | $— |  |  |  | $255.0 |
Decommissioning trust funds (a): |  |  |  |  |  |  |  |
Equity securities |  | 2.1 |  |  | — |  |  | — |  |  | 2.1 |
Debt securities |  | 232.6 |  |  | 58.8 |  |  | — |  |  | 291.4 |
Common trusts (b) |  |  |  |  |  |  |  | 426.3 |
|  |  | $489.7 |  |  |  | $58.8 |  |  |  | $— |  |  |  | $974.8 |
2015 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Millions)
Assets: |  |  |  |  |  |  |  |
Temporary cash investments |  |  | $222.0 |  |  |  | $— |  |  |  | $— |  |  |  | $222.0 |
Decommissioning trust funds (a): |  |  |  |  |  |  |  |
Equity securities |  | 1.8 |  |  | — |  |  | — |  |  | 1.8 |
Debt securities |  | 218.6 |  |  | 59.2 |  |  | — |  |  | 277.8 |
Common trusts (b) |  |  |  |  |  |  |  | 421.9 |
|  |  | $442.4 |  |  |  | $59.2 |  |  |  | $— |  |  |  | $923.5 |

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