XML 61 R18.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Decommissioning Trust Funds | 3 Months Ended
--- | ---
Mar. 31, 2018
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) Entergy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. Entergy implemented this ASU using a modified retrospective method, and Entergy recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive loss by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. Going forward, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/(losses) will continue to be recorded in other regulatory liabilities/assets. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/losses recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($64) million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 2,619 |  |  | 23 |  |  | 48 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $4,662 |  |  |  | $2,131 |  |  |  | $1 |
Debt Securities |  | 2,550 |  |  | 44 |  |  | 16 |
Total |  |  | $7,212 |  |  |  | $2,175 |  |  |  | $17 |
The unrealized gains/(losses) above are reported before deferred taxes of $472 million as of December 31, 2017 for equity securities, and ($2) million as of March 31, 2018 and $7 million as of December 31, 2017 for debt securities. The amortized cost of debt securities was $2,643 million as of March 31, 2018 and $2,539 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 3.26%, an average duration of approximately 6.18 years, and an average maturity of approximately 10.09 years. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $1,667 |  |  |  | $35 |
More than 12 months |  | 241 |  |  | 13 |
Total |  |  | $1,908 |  |  |  | $48 |
The fair value and gross unrealized losses of available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $8 |  |  |  | $1 |  |  |  | $1,099 |  |  |  | $7 |
More than 12 months | — |  |  | — |  |  | 265 |  |  | 9 |
Total |  | $8 |  |  |  | $1 |  |  |  | $1,364 |  |  |  | $16 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $89 |  |  |  | $74 |
1 year - 5 years | 928 |  |  | 902 |
5 years - 10 years | 784 |  |  | 812 |
10 years - 15 years | 152 |  |  | 147 |
15 years - 20 years | 101 |  |  | 100 |
20 years+ | 565 |  |  | 515 |
Total |  | $2,619 |  |  |  | $2,550 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $1,091 million and $514 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $1 million and $9 million, respectively, and gross losses of $7 million and $5 million, respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of March 31, 2018 are $485 million for Indian Point 1, $614 million for Indian Point 2, $789 million for Indian Point 3, $453 million for Palisades, $1,048 million for Pilgrim, and $591 million for Vermont Yankee. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2017 are $491 million for Indian Point 1, $621 million for Indian Point 2, $798 million for Indian Point 3, $458 million for Palisades, $1,068 million for Pilgrim, and $613 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 350.8 |  |  | 0.5 |  |  | 9.7 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $596.7 |  |  |  | $354.9 |  |  |  | $— |
Debt Securities |  | 348.2 |  |  | 2.1 |  |  | 3.0 |
Total |  |  | $944.9 |  |  |  | $357.0 |  |  |  | $3.0 |
The amortized cost of debt securities was $360 million as of March 31, 2018 and $349.1 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 2.67%, an average duration of approximately 5.48 years, and an average maturity of approximately 6.90 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $277.8 |  |  |  | $7.2 |
More than 12 months |  | 42.5 |  |  | 2.5 |
Total |  |  | $320.3 |  |  |  | $9.7 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $168.0 |  |  |  | $1.2 |
More than 12 months | — |  |  | — |  |  | 41.4 |  |  | 1.8 |
Total |  | $— |  |  |  | $— |  |  |  | $209.4 |  |  |  | $3.0 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $14.1 |  |  |  | $13.0 |
1 year - 5 years | 130.6 |  |  | 123.4 |
5 years - 10 years | 177.9 |  |  | 180.6 |
10 years - 15 years | 3.4 |  |  | 4.8 |
15 years - 20 years | 7.0 |  |  | 3.4 |
20 years+ | 17.8 |  |  | 23.0 |
Total |  | $350.8 |  |  |  | $348.2 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $34.9 million and $36 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.1 million and $0.5 million, respectively, and gross losses of $0.1 million and $0.1 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 516.3 |  |  | 5.7 |  |  | 8.4 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $818.3 |  |  |  | $461.2 |  |  |  | $— |
Debt Securities |  | 493.8 |  |  | 10.9 |  |  | 3.6 |
Total |  |  | $1,312.1 |  |  |  | $472.1 |  |  |  | $3.6 |
The amortized cost of debt securities was $519 million as of March 31, 2018 and $490 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 3.83%, an average duration of approximately 6.05 years, and an average maturity of approximately 11.85 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($10.8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $254.9 |  |  |  | $4.6 |
More than 12 months |  | 78.8 |  |  | 3.8 |
Total |  |  | $333.7 |  |  |  | $8.4 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $135.3 |  |  |  | $1.1 |
More than 12 months | — |  |  | — |  |  | 84.4 |  |  | 2.5 |
Total |  | $— |  |  |  | $— |  |  |  | $219.7 |  |  |  | $3.6 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $28.1 |  |  |  | $23.2 |
1 year - 5 years | 136.7 |  |  | 122.8 |
5 years - 10 years | 108.4 |  |  | 109.3 |
10 years - 15 years | 52.9 |  |  | 52.7 |
15 years - 20 years | 44.7 |  |  | 50.7 |
20 years+ | 145.5 |  |  | 135.1 |
Total |  | $516.3 |  |  |  | $493.8 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $125.5 million and $40.6 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.5 million and $0.03 million, respectively, and gross losses of $0.8 million and $0.2 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 325.6 |  |  | 1.4 |  |  | 5.8 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $575.2 |  |  |  | $308.6 |  |  |  | $— |
Debt Securities |  | 330.5 |  |  | 4.2 |  |  | 1.2 |
Total |  |  | $905.7 |  |  |  | $312.8 |  |  |  | $1.2 |
The amortized cost of debt securities was $330 million as of March 31, 2018 and $327.5 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 2.72%, an average duration of approximately 6.38 years, and an average maturity of approximately 9.39 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($7.8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  |  | $240.7 |  |  |  | $5.5 |
More than 12 months |  | 10.2 |  |  | 0.3 |
Total |  |  | $250.9 |  |  |  | $5.8 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $196.9 |  |  |  | $1.0 |
More than 12 months | — |  |  | — |  |  | 10.4 |  |  | 0.2 |
Total |  | $— |  |  |  | $— |  |  |  | $207.3 |  |  |  | $1.2 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $5.5 |  |  |  | $4.1 |
1 year - 5 years | 164.5 |  |  | 173.0 |
5 years - 10 years | 78.4 |  |  | 78.5 |
10 years - 15 years | 3.8 |  |  | 1.0 |
15 years - 20 years | 10.7 |  |  | 6.9 |
20 years+ | 62.7 |  |  | 67.0 |
Total |  | $325.6 |  |  |  | $330.5 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $54.2 million and $75.8 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.1 million and $0.1 million, respectively, and gross losses of $0.6 million and $0.7 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three months ended March 31, 2018 and 2017. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments.
Entergy Arkansas [Member] |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) Entergy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. Entergy implemented this ASU using a modified retrospective method, and Entergy recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive loss by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. Going forward, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/(losses) will continue to be recorded in other regulatory liabilities/assets. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/losses recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($64) million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 2,619 |  |  | 23 |  |  | 48 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $4,662 |  |  |  | $2,131 |  |  |  | $1 |
Debt Securities |  | 2,550 |  |  | 44 |  |  | 16 |
Total |  |  | $7,212 |  |  |  | $2,175 |  |  |  | $17 |
The unrealized gains/(losses) above are reported before deferred taxes of $472 million as of December 31, 2017 for equity securities, and ($2) million as of March 31, 2018 and $7 million as of December 31, 2017 for debt securities. The amortized cost of debt securities was $2,643 million as of March 31, 2018 and $2,539 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 3.26%, an average duration of approximately 6.18 years, and an average maturity of approximately 10.09 years. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $1,667 |  |  |  | $35 |
More than 12 months |  | 241 |  |  | 13 |
Total |  |  | $1,908 |  |  |  | $48 |
The fair value and gross unrealized losses of available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $8 |  |  |  | $1 |  |  |  | $1,099 |  |  |  | $7 |
More than 12 months | — |  |  | — |  |  | 265 |  |  | 9 |
Total |  | $8 |  |  |  | $1 |  |  |  | $1,364 |  |  |  | $16 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $89 |  |  |  | $74 |
1 year - 5 years | 928 |  |  | 902 |
5 years - 10 years | 784 |  |  | 812 |
10 years - 15 years | 152 |  |  | 147 |
15 years - 20 years | 101 |  |  | 100 |
20 years+ | 565 |  |  | 515 |
Total |  | $2,619 |  |  |  | $2,550 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $1,091 million and $514 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $1 million and $9 million, respectively, and gross losses of $7 million and $5 million, respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of March 31, 2018 are $485 million for Indian Point 1, $614 million for Indian Point 2, $789 million for Indian Point 3, $453 million for Palisades, $1,048 million for Pilgrim, and $591 million for Vermont Yankee. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2017 are $491 million for Indian Point 1, $621 million for Indian Point 2, $798 million for Indian Point 3, $458 million for Palisades, $1,068 million for Pilgrim, and $613 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 350.8 |  |  | 0.5 |  |  | 9.7 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $596.7 |  |  |  | $354.9 |  |  |  | $— |
Debt Securities |  | 348.2 |  |  | 2.1 |  |  | 3.0 |
Total |  |  | $944.9 |  |  |  | $357.0 |  |  |  | $3.0 |
The amortized cost of debt securities was $360 million as of March 31, 2018 and $349.1 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 2.67%, an average duration of approximately 5.48 years, and an average maturity of approximately 6.90 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $277.8 |  |  |  | $7.2 |
More than 12 months |  | 42.5 |  |  | 2.5 |
Total |  |  | $320.3 |  |  |  | $9.7 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $168.0 |  |  |  | $1.2 |
More than 12 months | — |  |  | — |  |  | 41.4 |  |  | 1.8 |
Total |  | $— |  |  |  | $— |  |  |  | $209.4 |  |  |  | $3.0 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $14.1 |  |  |  | $13.0 |
1 year - 5 years | 130.6 |  |  | 123.4 |
5 years - 10 years | 177.9 |  |  | 180.6 |
10 years - 15 years | 3.4 |  |  | 4.8 |
15 years - 20 years | 7.0 |  |  | 3.4 |
20 years+ | 17.8 |  |  | 23.0 |
Total |  | $350.8 |  |  |  | $348.2 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $34.9 million and $36 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.1 million and $0.5 million, respectively, and gross losses of $0.1 million and $0.1 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 516.3 |  |  | 5.7 |  |  | 8.4 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $818.3 |  |  |  | $461.2 |  |  |  | $— |
Debt Securities |  | 493.8 |  |  | 10.9 |  |  | 3.6 |
Total |  |  | $1,312.1 |  |  |  | $472.1 |  |  |  | $3.6 |
The amortized cost of debt securities was $519 million as of March 31, 2018 and $490 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 3.83%, an average duration of approximately 6.05 years, and an average maturity of approximately 11.85 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($10.8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $254.9 |  |  |  | $4.6 |
More than 12 months |  | 78.8 |  |  | 3.8 |
Total |  |  | $333.7 |  |  |  | $8.4 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $135.3 |  |  |  | $1.1 |
More than 12 months | — |  |  | — |  |  | 84.4 |  |  | 2.5 |
Total |  | $— |  |  |  | $— |  |  |  | $219.7 |  |  |  | $3.6 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $28.1 |  |  |  | $23.2 |
1 year - 5 years | 136.7 |  |  | 122.8 |
5 years - 10 years | 108.4 |  |  | 109.3 |
10 years - 15 years | 52.9 |  |  | 52.7 |
15 years - 20 years | 44.7 |  |  | 50.7 |
20 years+ | 145.5 |  |  | 135.1 |
Total |  | $516.3 |  |  |  | $493.8 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $125.5 million and $40.6 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.5 million and $0.03 million, respectively, and gross losses of $0.8 million and $0.2 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 325.6 |  |  | 1.4 |  |  | 5.8 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $575.2 |  |  |  | $308.6 |  |  |  | $— |
Debt Securities |  | 330.5 |  |  | 4.2 |  |  | 1.2 |
Total |  |  | $905.7 |  |  |  | $312.8 |  |  |  | $1.2 |
The amortized cost of debt securities was $330 million as of March 31, 2018 and $327.5 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 2.72%, an average duration of approximately 6.38 years, and an average maturity of approximately 9.39 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($7.8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  |  | $240.7 |  |  |  | $5.5 |
More than 12 months |  | 10.2 |  |  | 0.3 |
Total |  |  | $250.9 |  |  |  | $5.8 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $196.9 |  |  |  | $1.0 |
More than 12 months | — |  |  | — |  |  | 10.4 |  |  | 0.2 |
Total |  | $— |  |  |  | $— |  |  |  | $207.3 |  |  |  | $1.2 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $5.5 |  |  |  | $4.1 |
1 year - 5 years | 164.5 |  |  | 173.0 |
5 years - 10 years | 78.4 |  |  | 78.5 |
10 years - 15 years | 3.8 |  |  | 1.0 |
15 years - 20 years | 10.7 |  |  | 6.9 |
20 years+ | 62.7 |  |  | 67.0 |
Total |  | $325.6 |  |  |  | $330.5 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $54.2 million and $75.8 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.1 million and $0.1 million, respectively, and gross losses of $0.6 million and $0.7 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three months ended March 31, 2018 and 2017. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments.
Entergy Louisiana [Member] |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) Entergy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. Entergy implemented this ASU using a modified retrospective method, and Entergy recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive loss by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. Going forward, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/(losses) will continue to be recorded in other regulatory liabilities/assets. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/losses recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($64) million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 2,619 |  |  | 23 |  |  | 48 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $4,662 |  |  |  | $2,131 |  |  |  | $1 |
Debt Securities |  | 2,550 |  |  | 44 |  |  | 16 |
Total |  |  | $7,212 |  |  |  | $2,175 |  |  |  | $17 |
The unrealized gains/(losses) above are reported before deferred taxes of $472 million as of December 31, 2017 for equity securities, and ($2) million as of March 31, 2018 and $7 million as of December 31, 2017 for debt securities. The amortized cost of debt securities was $2,643 million as of March 31, 2018 and $2,539 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 3.26%, an average duration of approximately 6.18 years, and an average maturity of approximately 10.09 years. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $1,667 |  |  |  | $35 |
More than 12 months |  | 241 |  |  | 13 |
Total |  |  | $1,908 |  |  |  | $48 |
The fair value and gross unrealized losses of available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $8 |  |  |  | $1 |  |  |  | $1,099 |  |  |  | $7 |
More than 12 months | — |  |  | — |  |  | 265 |  |  | 9 |
Total |  | $8 |  |  |  | $1 |  |  |  | $1,364 |  |  |  | $16 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $89 |  |  |  | $74 |
1 year - 5 years | 928 |  |  | 902 |
5 years - 10 years | 784 |  |  | 812 |
10 years - 15 years | 152 |  |  | 147 |
15 years - 20 years | 101 |  |  | 100 |
20 years+ | 565 |  |  | 515 |
Total |  | $2,619 |  |  |  | $2,550 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $1,091 million and $514 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $1 million and $9 million, respectively, and gross losses of $7 million and $5 million, respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of March 31, 2018 are $485 million for Indian Point 1, $614 million for Indian Point 2, $789 million for Indian Point 3, $453 million for Palisades, $1,048 million for Pilgrim, and $591 million for Vermont Yankee. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2017 are $491 million for Indian Point 1, $621 million for Indian Point 2, $798 million for Indian Point 3, $458 million for Palisades, $1,068 million for Pilgrim, and $613 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 350.8 |  |  | 0.5 |  |  | 9.7 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $596.7 |  |  |  | $354.9 |  |  |  | $— |
Debt Securities |  | 348.2 |  |  | 2.1 |  |  | 3.0 |
Total |  |  | $944.9 |  |  |  | $357.0 |  |  |  | $3.0 |
The amortized cost of debt securities was $360 million as of March 31, 2018 and $349.1 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 2.67%, an average duration of approximately 5.48 years, and an average maturity of approximately 6.90 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $277.8 |  |  |  | $7.2 |
More than 12 months |  | 42.5 |  |  | 2.5 |
Total |  |  | $320.3 |  |  |  | $9.7 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $168.0 |  |  |  | $1.2 |
More than 12 months | — |  |  | — |  |  | 41.4 |  |  | 1.8 |
Total |  | $— |  |  |  | $— |  |  |  | $209.4 |  |  |  | $3.0 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $14.1 |  |  |  | $13.0 |
1 year - 5 years | 130.6 |  |  | 123.4 |
5 years - 10 years | 177.9 |  |  | 180.6 |
10 years - 15 years | 3.4 |  |  | 4.8 |
15 years - 20 years | 7.0 |  |  | 3.4 |
20 years+ | 17.8 |  |  | 23.0 |
Total |  | $350.8 |  |  |  | $348.2 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $34.9 million and $36 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.1 million and $0.5 million, respectively, and gross losses of $0.1 million and $0.1 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 516.3 |  |  | 5.7 |  |  | 8.4 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $818.3 |  |  |  | $461.2 |  |  |  | $— |
Debt Securities |  | 493.8 |  |  | 10.9 |  |  | 3.6 |
Total |  |  | $1,312.1 |  |  |  | $472.1 |  |  |  | $3.6 |
The amortized cost of debt securities was $519 million as of March 31, 2018 and $490 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 3.83%, an average duration of approximately 6.05 years, and an average maturity of approximately 11.85 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($10.8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $254.9 |  |  |  | $4.6 |
More than 12 months |  | 78.8 |  |  | 3.8 |
Total |  |  | $333.7 |  |  |  | $8.4 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $135.3 |  |  |  | $1.1 |
More than 12 months | — |  |  | — |  |  | 84.4 |  |  | 2.5 |
Total |  | $— |  |  |  | $— |  |  |  | $219.7 |  |  |  | $3.6 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $28.1 |  |  |  | $23.2 |
1 year - 5 years | 136.7 |  |  | 122.8 |
5 years - 10 years | 108.4 |  |  | 109.3 |
10 years - 15 years | 52.9 |  |  | 52.7 |
15 years - 20 years | 44.7 |  |  | 50.7 |
20 years+ | 145.5 |  |  | 135.1 |
Total |  | $516.3 |  |  |  | $493.8 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $125.5 million and $40.6 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.5 million and $0.03 million, respectively, and gross losses of $0.8 million and $0.2 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 325.6 |  |  | 1.4 |  |  | 5.8 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $575.2 |  |  |  | $308.6 |  |  |  | $— |
Debt Securities |  | 330.5 |  |  | 4.2 |  |  | 1.2 |
Total |  |  | $905.7 |  |  |  | $312.8 |  |  |  | $1.2 |
The amortized cost of debt securities was $330 million as of March 31, 2018 and $327.5 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 2.72%, an average duration of approximately 6.38 years, and an average maturity of approximately 9.39 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($7.8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  |  | $240.7 |  |  |  | $5.5 |
More than 12 months |  | 10.2 |  |  | 0.3 |
Total |  |  | $250.9 |  |  |  | $5.8 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $196.9 |  |  |  | $1.0 |
More than 12 months | — |  |  | — |  |  | 10.4 |  |  | 0.2 |
Total |  | $— |  |  |  | $— |  |  |  | $207.3 |  |  |  | $1.2 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $5.5 |  |  |  | $4.1 |
1 year - 5 years | 164.5 |  |  | 173.0 |
5 years - 10 years | 78.4 |  |  | 78.5 |
10 years - 15 years | 3.8 |  |  | 1.0 |
15 years - 20 years | 10.7 |  |  | 6.9 |
20 years+ | 62.7 |  |  | 67.0 |
Total |  | $325.6 |  |  |  | $330.5 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $54.2 million and $75.8 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.1 million and $0.1 million, respectively, and gross losses of $0.6 million and $0.7 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three months ended March 31, 2018 and 2017. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments.
System Energy [Member] |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) Entergy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. Entergy implemented this ASU using a modified retrospective method, and Entergy recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive loss by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. Going forward, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/(losses) will continue to be recorded in other regulatory liabilities/assets. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/losses recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($64) million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 2,619 |  |  | 23 |  |  | 48 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $4,662 |  |  |  | $2,131 |  |  |  | $1 |
Debt Securities |  | 2,550 |  |  | 44 |  |  | 16 |
Total |  |  | $7,212 |  |  |  | $2,175 |  |  |  | $17 |
The unrealized gains/(losses) above are reported before deferred taxes of $472 million as of December 31, 2017 for equity securities, and ($2) million as of March 31, 2018 and $7 million as of December 31, 2017 for debt securities. The amortized cost of debt securities was $2,643 million as of March 31, 2018 and $2,539 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 3.26%, an average duration of approximately 6.18 years, and an average maturity of approximately 10.09 years. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $1,667 |  |  |  | $35 |
More than 12 months |  | 241 |  |  | 13 |
Total |  |  | $1,908 |  |  |  | $48 |
The fair value and gross unrealized losses of available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $8 |  |  |  | $1 |  |  |  | $1,099 |  |  |  | $7 |
More than 12 months | — |  |  | — |  |  | 265 |  |  | 9 |
Total |  | $8 |  |  |  | $1 |  |  |  | $1,364 |  |  |  | $16 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $89 |  |  |  | $74 |
1 year - 5 years | 928 |  |  | 902 |
5 years - 10 years | 784 |  |  | 812 |
10 years - 15 years | 152 |  |  | 147 |
15 years - 20 years | 101 |  |  | 100 |
20 years+ | 565 |  |  | 515 |
Total |  | $2,619 |  |  |  | $2,550 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $1,091 million and $514 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $1 million and $9 million, respectively, and gross losses of $7 million and $5 million, respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of March 31, 2018 are $485 million for Indian Point 1, $614 million for Indian Point 2, $789 million for Indian Point 3, $453 million for Palisades, $1,048 million for Pilgrim, and $591 million for Vermont Yankee. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2017 are $491 million for Indian Point 1, $621 million for Indian Point 2, $798 million for Indian Point 3, $458 million for Palisades, $1,068 million for Pilgrim, and $613 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 350.8 |  |  | 0.5 |  |  | 9.7 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $596.7 |  |  |  | $354.9 |  |  |  | $— |
Debt Securities |  | 348.2 |  |  | 2.1 |  |  | 3.0 |
Total |  |  | $944.9 |  |  |  | $357.0 |  |  |  | $3.0 |
The amortized cost of debt securities was $360 million as of March 31, 2018 and $349.1 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 2.67%, an average duration of approximately 5.48 years, and an average maturity of approximately 6.90 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $277.8 |  |  |  | $7.2 |
More than 12 months |  | 42.5 |  |  | 2.5 |
Total |  |  | $320.3 |  |  |  | $9.7 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $168.0 |  |  |  | $1.2 |
More than 12 months | — |  |  | — |  |  | 41.4 |  |  | 1.8 |
Total |  | $— |  |  |  | $— |  |  |  | $209.4 |  |  |  | $3.0 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $14.1 |  |  |  | $13.0 |
1 year - 5 years | 130.6 |  |  | 123.4 |
5 years - 10 years | 177.9 |  |  | 180.6 |
10 years - 15 years | 3.4 |  |  | 4.8 |
15 years - 20 years | 7.0 |  |  | 3.4 |
20 years+ | 17.8 |  |  | 23.0 |
Total |  | $350.8 |  |  |  | $348.2 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $34.9 million and $36 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.1 million and $0.5 million, respectively, and gross losses of $0.1 million and $0.1 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 516.3 |  |  | 5.7 |  |  | 8.4 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $818.3 |  |  |  | $461.2 |  |  |  | $— |
Debt Securities |  | 493.8 |  |  | 10.9 |  |  | 3.6 |
Total |  |  | $1,312.1 |  |  |  | $472.1 |  |  |  | $3.6 |
The amortized cost of debt securities was $519 million as of March 31, 2018 and $490 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 3.83%, an average duration of approximately 6.05 years, and an average maturity of approximately 11.85 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($10.8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
|  | (In Millions)
Less than 12 months |  |  | $254.9 |  |  |  | $4.6 |
More than 12 months |  | 78.8 |  |  | 3.8 |
Total |  |  | $333.7 |  |  |  | $8.4 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $135.3 |  |  |  | $1.1 |
More than 12 months | — |  |  | — |  |  | 84.4 |  |  | 2.5 |
Total |  | $— |  |  |  | $— |  |  |  | $219.7 |  |  |  | $3.6 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $28.1 |  |  |  | $23.2 |
1 year - 5 years | 136.7 |  |  | 122.8 |
5 years - 10 years | 108.4 |  |  | 109.3 |
10 years - 15 years | 52.9 |  |  | 52.7 |
15 years - 20 years | 44.7 |  |  | 50.7 |
20 years+ | 145.5 |  |  | 135.1 |
Total |  | $516.3 |  |  |  | $493.8 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $125.5 million and $40.6 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.5 million and $0.03 million, respectively, and gross losses of $0.8 million and $0.2 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of March 31, 2018 and December 31, 2017 are summarized as follows:
|  | Fair Value |  | Total Unrealized Gains |  | Total Unrealized Losses
|  | (In Millions)
2018 |  |  |  |  |  |
Debt Securities |  | 325.6 |  |  | 1.4 |  |  | 5.8 |
2017 |  |  |  |  |  |
Equity Securities |  |  | $575.2 |  |  |  | $308.6 |  |  |  | $— |
Debt Securities |  | 330.5 |  |  | 4.2 |  |  | 1.2 |
Total |  |  | $905.7 |  |  |  | $312.8 |  |  |  | $1.2 |
The amortized cost of debt securities was $330 million as of March 31, 2018 and $327.5 million as of December 31, 2017. As of March 31, 2018, the debt securities have an average coupon rate of approximately 2.72%, an average duration of approximately 6.38 years, and an average maturity of approximately 9.39 years. The unrealized gains/(losses) recognized during the three months ended March 31, 2018 on equity securities still held as of March 31, 2018 were ($7.8) million. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of the available-for-sale debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of March 31, 2018:
|  | Debt Securities
|  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  |  | $240.7 |  |  |  | $5.5 |
More than 12 months |  | 10.2 |  |  | 0.3 |
Total |  |  | $250.9 |  |  |  | $5.8 |
The fair value and gross unrealized losses of the available-for-sale securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017:
| Equity Securities |  | Debt Securities
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| (In Millions)
Less than 12 months |  | $— |  |  |  | $— |  |  |  | $196.9 |  |  |  | $1.0 |
More than 12 months | — |  |  | — |  |  | 10.4 |  |  | 0.2 |
Total |  | $— |  |  |  | $— |  |  |  | $207.3 |  |  |  | $1.2 |
The fair value of debt securities, summarized by contractual maturities, as of March 31, 2018 and December 31, 2017 are as follows:
| 2018 |  | 2017
| (In Millions)
less than 1 year |  | $5.5 |  |  |  | $4.1 |
1 year - 5 years | 164.5 |  |  | 173.0 |
5 years - 10 years | 78.4 |  |  | 78.5 |
10 years - 15 years | 3.8 |  |  | 1.0 |
15 years - 20 years | 10.7 |  |  | 6.9 |
20 years+ | 62.7 |  |  | 67.0 |
Total |  | $325.6 |  |  |  | $330.5 |
During the three months ended March 31, 2018 and 2017, proceeds from the dispositions of securities amounted to $54.2 million and $75.8 million, respectively. During the three months ended March 31, 2018 and 2017, gross gains of $0.1 million and $0.1 million, respectively, and gross losses of $0.6 million and $0.7 million, respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three months ended March 31, 2018 and 2017. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments.

X
- Definition Describes decommissioning trust assets. May include disclosures such as the purpose of the funds, funding requirements, regulatory authorities and related cost recovery aspects. + References No definition available. + Details
Name: | etr_DecommissioningTrustFundTextBlock
Namespace Prefix: | etr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=etr_EntergyArkansasMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | dei_LegalEntityAxis=etr_EntergyLouisianaMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | dei_LegalEntityAxis=etr_SystemEnergyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |