Entergy Texas, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Entergy Texas, Inc. has filed its 2023 10-K annual report, providing a detailed financial and operational overview.</b>

AI Summary

ENTERGY TEXAS, INC. (ETI-P) filed a Annual Report (10-K) with the SEC on February 23, 2024. Entergy Texas, Inc. is a subsidiary of Entergy Corp. and operates within the electric services industry. The company's fiscal year ends on December 31st. The filing is a 10-K annual report, indicating a comprehensive overview of the company's financial performance and operations. Entergy Texas, Inc. is incorporated in Texas. The company's business address is located at 10055 Grogans Mill Road, The Woodlands, TX 77380.

Why It Matters

For investors and stakeholders tracking ENTERGY TEXAS, INC., this filing contains several important signals. This 10-K filing provides investors and stakeholders with crucial information regarding Entergy Texas, Inc.'s financial health, operational performance, and strategic direction for the fiscal year 2023. Understanding the details within this report is essential for assessing the company's stability, growth prospects, and potential risks in the electric services sector.

Risk Assessment

Risk Level: low — ENTERGY TEXAS, INC. shows low risk based on this filing. The filing is a standard 10-K, which is a routine disclosure for publicly traded companies and does not inherently signal significant positive or negative events.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Entergy Texas, Inc.'s performance and outlook.

Key Numbers

• 20231231 — Fiscal Year End (The end date of the reporting period.)
• 20240223 — Filing Date (The date the 10-K was filed.)
• 10-K — Form Type (Type of filing submitted.)
• 0000065984-24-000012 — Accession Number (Unique identifier for the filing.)

Key Players & Entities

• Entergy Texas, Inc. (company) — Filer of the 10-K report.
• Entergy Corp. (company) — Parent company of Entergy Texas, Inc.
• DE (regulator) — State of incorporation for Entergy Corp.
• TX (regulator) — State of incorporation for Entergy Texas, Inc.
• 10055 Grogans Mill Road (location) — Business address of Entergy Texas, Inc.
• The Woodlands (location) — City of Entergy Texas, Inc.'s business address.
• 77380 (location) — ZIP code of Entergy Texas, Inc.'s business address.
• 409-981-2000 (phone) — Business phone number for Entergy Texas, Inc.

FAQ

Industry Context

Entergy Texas, Inc. operates in the electric services industry, providing electricity to customers in its service territory.

Regulatory Implications

As an electric utility, Entergy Texas, Inc. is subject to regulatory oversight by state and federal agencies.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and profitability trends.
2. Review management's discussion and analysis for insights into operational strategies and challenges.
3. Examine risk factors to understand potential threats to the company's business.

Year-Over-Year Comparison

This is the initial filing analyzed for Entergy Texas, Inc. for the fiscal year 2023.

Key Financial Figures

• $0.01 — red Entergy Corporation Common Stock, $0.01 Par Value ETR New York Stock Exchange
• $25 — lative, No Par Value (Liquidation Value $25 Per Share) ETI/PR New York Stock Excha
• $97.37 — ased on the reported last sale price of $97.37 per share for such stock on the New Yor

Filing Documents

• etr-20231231.htm (10-K) — 14857KB
• ex4c6.htm (EX-4.(C)6) — 87KB
• ex4d31.htm (EX-4.(D)31) — 153KB
• ex4e5.htm (EX-4.(E)5) — 88KB
• ex4f5.htm (EX-4.(F)5) — 95KB
• ex10a11.htm (EX-10.A(11)) — 9KB
• ex10a16.htm (EX-10.A(16)) — 8KB
• ex10a21.htm (EX-10.A(21)) — 8KB
• ex10a32.htm (EX-10.A(32)) — 16KB
• ex10a34.htm (EX-10.A(34)) — 8KB
• ex10a35.htm (EX-10.A(35)) — 9KB
• ex10a36.htm (EX-10.A(36)) — 10KB
• ex10a37.htm (EX-10.A(37)) — 14KB
• ex10a47.htm (EX-10.A(47)) — 9KB
• ex10a60.htm (EX-10.A(60)) — 9KB
• ex10a72.htm (EX-10.A(72)) — 109KB
• a10kex-212023.htm (EX-21) — 52KB
• aex-242023xpowerofattorney.htm (EX-24) — 44KB
• a10kex-31a2023.htm (EX-31.A) — 9KB
• a10kex-31b2023.htm (EX-31.B) — 9KB
• a10kex-31c2023.htm (EX-31.C) — 9KB
• a10kex-31d2023.htm (EX-31.D) — 9KB
• a10kex-31e2023.htm (EX-31.E) — 9KB
• a10kex-31f2023.htm (EX-31.F) — 9KB
• a10kex-31g2023.htm (EX-31.G) — 9KB
• a10kex-31h2023.htm (EX-31.H) — 9KB
• a10kex-31i2023.htm (EX-31.I) — 9KB
• a10kex-31j2023.htm (EX-31.J) — 9KB
• a10kex-31k2023.htm (EX-31.K) — 10KB
• a10kex-31l2023.htm (EX-31.L) — 9KB
• a10kex-31m2023.htm (EX-31.M) — 9KB
• a10kex-31n2023.htm (EX-31.N) — 9KB
• a10kex-32a2023.htm (EX-32.A) — 4KB
• a10kex-32b2023.htm (EX-32.B) — 4KB
• a10kex-32c2023.htm (EX-32.C) — 4KB
• a10kex-32d2023.htm (EX-32.D) — 4KB
• a10kex-32e2023.htm (EX-32.E) — 4KB
• a10kex-32f2023.htm (EX-32.F) — 4KB
• a10kex-32g2023.htm (EX-32.G) — 4KB
• a10kex-32h2023.htm (EX-32.H) — 4KB
• a10kex-32i2023.htm (EX-32.I) — 4KB
• a10kex-32j2023.htm (EX-32.J) — 4KB
• a10kex-32k2023.htm (EX-32.K) — 5KB
• a10kex-32l2023.htm (EX-32.L) — 4KB
• a10kex-32m2023.htm (EX-32.M) — 4KB
• a10kex-32n2023.htm (EX-32.N) — 4KB
• a10kex-97.htm (EX-97) — 28KB
• 0000065984-24-000012.txt (&nbsp;) — 136461KB
• etr-20231231.xsd (EX-101.SCH) — 291KB
• etr-20231231_cal.xml (EX-101.CAL) — 82KB
• etr-20231231_def.xml (EX-101.DEF) — 2002KB
• etr-20231231_lab.xml (EX-101.LAB) — 2543KB
• etr-20231231_pre.xml (EX-101.PRE) — 2176KB
• etr-20231231_htm.xml (XML) — 54170KB

Item 7. 1

Part II. Item 7. 1 Report of Management 34 Report of Independent Registered Public Accounting Firm 35 Consolidated Income Statements For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 39

Part II. Item 8. 39 Consolidated Statements of Comprehensive Income For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 41

Part II. Item 8. 41 Consolidated Statements of Cash Flows For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 42

Part II. Item 8. 42 Consolidated Balance Sheets, December 31, 202 3 and 202 2

Item 8. 44

Part II. Item 8. 44 Consolidated Statements of Changes in Equity for the Years Ended December 31, 202 3 , 202 2 , and 20 21

Notes to Financial Statements Part II. Item 8

Notes to Financial Statements Part II. Item 8. Note 1. Summary of Significant Accounting Policies 47 Note 2. Rate and Regulatory Matters 57 Note 3. Income Taxes 117 Note 4. Revolving Credit Facilities, Lines of Credit, and Short-term Borrowings 134 Note 5. Long-term Debt 138 Note 6. Preferred Equity and Noncontrolling Interests 146 Note 7. Common Equity 150 Note 8. Commitments and Contingencies 155 Note 9. Asset Retirement Obligations 162 Note 10. Leases 165 Note 11. Retirement, Other Postretirement Benefits, and Defined Contribution Plans 170 Note 12. Stock-based Compensation 198 Note 13. Business Segment Information 203 Note 14. Acquisitions and Dispositions 206 Note 15. Risk Management and Fair Values 208 Note 16. Decommissioning Trust Funds 223 Note 17. Variable Interest Entities 229 Note 18. Transactions with Affiliates 232 Note 19. Revenue 233 Entergy's Business Part I. Item 1. Risk Factors Summary 239 Utility 241 Other Business Activit i es 268 Regulation of Entergy's Business 269 Litigation 281 Human Capital 282 Availability of SEC filings and other information on Entergy's website 284

Item 1A. 285

Part I. Item 1A. 285 Unresolved Staff Comments

Item 1B. 309

Part I. Item 1B. 309 i Table of Contents C ybersecurity

Item 1C. 309

Part I. Item 1C. 309 Entergy Arkansas, LLC and Subsidiaries Management's Financial Discussion and Analysis

Item 7. 313

Part II. Item 7. 313 Report of Independent Registered Public Accounting Firm 334 Consolidated Income Statements For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 336

Part II. Item 8. 336 Consolidated Statements of Cash Flows For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 337

Part II. Item 8. 337 Consolidated Balance Sheets, December 31, 202 3 and 202 2

Item 8. 338

Part II. Item 8. 338 Consolidated Statements of Changes in Equity for the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 340

Part II. Item 8. 340 Entergy Louisiana, LLC and Subsidiaries Management's Financial Discussion and Analysis

Item 7. 341

Part II. Item 7. 341 Report of Independent Registered Public Accounting Firm 364 Consolidated Income Statements For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 368

Part II. Item 8. 368 Consolidated Statements of Comprehensive Income For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 369

Part II. Item 8. 369 Consolidated Statements of Cash Flows For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 371

Part II. Item 8. 371 Consolidated Balance Sheets, December 31, 202 3 and 202 2

Item 8. 372

Part II. Item 8. 372 Consolidated Statements of Changes in Equity for the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 374

Part II. Item 8. 374 Entergy Mississippi, LLC and Subsidiaries Management's Financial Discussion and Analysis

Item 7. 375

Part II. Item 7. 375 Report of Independent Registered Public Accounting Firm 389 Consolidated Income Statements For the Years Ended December 31, 202 3 , 202 2 , and 2 021

Item 8. 391

Part II. Item 8. 391 Consolidated Statements of Cash Flows For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 393

Part II. Item 8. 393 Consolidated Balance Sheets, December 31, 202 3 and 202 2

Item 8. 394

Part II. Item 8. 394 Consolidated Statements of Changes in Equity for the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 396

Part II. Item 8. 396 Entergy New Orleans, LLC and Subsidiaries Management's Financial Discussion and Analysis

Item 7. 397

Part II. Item 7. 397 Report of Independent Registered Public Accounting Firm 410 Consolidated Income Statements For the Years Ended December 31, 202 3 , 202 2 , and 202 1

Item 8. 412

Part II. Item 8. 412 Consolidated Statements of Cash Flows For the Years Ended December 31, 202 3 , 202 2 , and 202 1

Item 8. 413

Part II. Item 8. 413 Consolidated Balance Sheets, December 31, 202 3 and 202 2

Item 8. 414

Part II. Item 8. 414 Consolidated Statements of Changes in Member's Equity for the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 416

Part II. Item 8. 416 Entergy Texas, Inc. and Subsidiaries Management's Financial Discussion and Analysis

Item 7. 417

Part II. Item 7. 417 Report of Independent Registered Public Accounting Firm 432 Consolidated Income Statements For the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 434

Part II. Item 8. 434 Consolidated Statements of Cash Flows For the Years Ended December 31, 202 3 , 202 2 , and 202 1

Item 8. 435

Part II. Item 8. 435 Consolidated Balance Sheets, December 31, 202 3 and 202 2

Item 8. 436

Part II. Item 8. 436 Consolidated Statements of Changes in Equity for the Years Ended December 31, 202 3 , 202 2 , and 20 21

Item 8. 438

Part II. Item 8. 438 ii Table of Contents System Energy Resources, Inc. Management's Financial Discussion and Analysis

Item 7. 439

Part II. Item 7. 439 Report of Independent Registered Public Accounting Firm 465

Item 8. 467

Part II. Item 8. 467

Item 8. 469

Part II. Item 8. 469 Balance Sheets, December 31, 202 3 and 202 2

Item 8. 470

Part II. Item 8. 470

Item 8. 472

Part II. Item 8. 472

Item 3. 473

Part I. Item 3. 473 Mine Safety Disclosures

Item 4. 473

Part I. Item 4. 473 Information about Executive Officers of Entergy Corporation

and Part III. Item 10. 473

Part I. and Part III. Item 10. 473 Market for Registrants' Common Equity , Related Stockholder Matters , and Issuer Purchases of Equity Securities

Item 5. 476

Part II. Item 5. 476 Reserved

Item 6. 476

Part II. Item 6. 476

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. 477

Part II. Item 7. 477

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. 477

Part II. Item 7A. 477

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data

Item 8. 477

Part II. Item 8. 477 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. 477

Part II. Item 9. 477

Controls and Procedures

Controls and Procedures

Item 9A. 477

Part II. Item 9A. 477 Attestation Report of Registered Public Accounting Firm

Item 9A. 479

Part II. Item 9A. 479 Other Information

Item 9B. 480

Part II. Item 9B. 480 Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. 480

Part II. Item 9C. 480 Directors, Executive Officers, and Corporate Governance of the Registrants

Item 10. 481

Part III. Item 10. 481

Executive Compensation

Executive Compensation

Item 11. 486

Part III. Item 11. 486

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management

Item 12. 534

Part III. Item 12. 534 Certain Relationships and Related Party Transactions and Director Independence

Item 13. 536

Part III. Item 13. 536 Principal Accountant Fees and Services

Item 14. 537

Part III. Item 14. 537 Exhibits and Financial Statement Schedules

Item 15. 540

Part IV. Item 15. 540 Form 10-K Summary

Item 16. 540

Part IV. Item 16. 540 Exhibit Index 541

Signatures

Signatures 557 Consents of Independent Registered Public Accounting Firm 564 Report of Independent Registered Public Accounting Firm 565 Index to Financial Statement Schedules S- 1 This combined Form 10-K is separately filed by Entergy Corporation and its six Registrant Subsidiaries: Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, Entergy New Orleans, LLC, Entergy Texas, Inc., and System Energy Resources, Inc. Information contained herein relating to any individual company is filed by such company on its own behalf. Each company makes representations only as to itself and makes no other representations whatsoever as to any other company. The report should be read in its entirety as it pertains to each respective reporting company. No one section of the report deals with all aspects of the subject matter. Separate Item 7 and 8 sections are provided for each reporting company, except for the Notes to the financial statements. The Notes to the financial statements for all of the reporting companies are combined. All Items other than 7 and 8 are combined for the reporting companies. iii Table of Contents FORWARD-LOOKING INFORMATION In this combined report and from time to time, Entergy Corporation and the Registrant Subsidiaries each makes statements as a registrant concerning its expectations, beliefs, plans, objectives, goals, projections, strategies, and future events or performance. Such statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "could," "project," "believe," "anticipate," "intend," "goal," "commitment," "expect," "estimate," "continue," "potential," "plan," "predict," "forecast," and other similar words or expressions are intended to identify forward-looking statements but are not the only means to identify these statements. Although each of these registrants believes that these forward-looking statements and the u

View Full Filing

View this 10-K filing on SEC EDGAR