SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 [FEE REQUIRED]
For the Fiscal Year Ended December 31, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
Commission File Number 2-62223
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
(Full title of the plan)
ENTERGY CORPORATION
639 Loyola Avenue
New Orleans, Louisiana 70113
(Issuer and address of principal executive office)
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Table of Contents
Page
Number
(a)Financial Statements:
Report of Independent Accountants 2
Statements of Net Assets Available for Benefits
as of December 31, 2000 and 1999 3
Statement of Changes in Net Assets Available for
Benefits for the Year Ended December 31, 2000 4
Notes to Financial Statements 5
(b)Supplemental Schedules:
Schedule of Assets (Held at End of Year) 17
Schedule of Reportable Transactions
for the Year Ended December 31, 2000 25
Signature 26
(c)Exhibit:
Consent of PricewaterhouseCoopers LLP 27
Report of Independent Accountants
To the Trustee and Participants of the
Savings Plan of Entergy Corporation and Subsidiaries
In our opinion, the accompanying statements of net assets available
for benefits and the related statement of changes in net assets
available for benefits present fairly, in all material respects, the
net assets available for benefits of the Savings Plan of Entergy
Corporation and Subsidiaries (the "Plan") at December 31, 2000 and
1999, and the changes in net assets available for benefits for the
year ended December 31, 2000 in conformity with accounting
principles generally accepted in the United States of America.
These financial statements are the responsibility of the Plan's
management; our responsibility is to express an opinion on these
financial statements based on our audits. We conducted our audits
of these statements in accordance with auditing standards generally
accepted in the United States of America, which require that we plan
and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by
management, and evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis
for our opinion.
Our audits were conducted for the purpose of forming an opinion on
the basic financial statements taken as a whole. The supplemental
Schedule of Assets (Held at End of Year) and Schedule of Reportable
Transactions for the Year Ended December 31, 2000 are presented for
the purpose of additional analysis and are not a required part of
the basic financial statements but are supplementary information
required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. These supplemental schedules are the
responsibility of the Plan's management. The supplemental schedules
have been subjected to the auditing procedures applied in the audits
of the basic financial statements and, in our opinion, are fairly
stated in all material respects in relation to the basic financial
statements taken as a whole.
/s/ PricewaterhouseCoopers LLP
June 25, 2001
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31,
2000 1999
INVESTMENTS:
Participant Directed:
Cash and temporary cash investments $ 30,356,253 $ 27,762,550
Entergy Corporation common stock 69,395,773 51,735,759
Mutual funds 450,208,929 410,757,763
Common trust funds 113,303,508 127,558,401
Guaranteed investment contracts 18,276,970 28,406,989
Synthetic investment contracts 183,710,228 185,017,457
Brokerage accounts 6,297,797 -
Loans to participants 31,962,402 29,662,767
Non-Participant Directed:
Entergy Corporation common stock 532,441,519 322,856,754
-------------- --------------
1,435,953,379 1,183,758,440
RECEIVABLES:
Plans transferred-in 91,547,410 -
Loans transferred-in 3,570,549 -
Participants' contributions 1,386,012 2,095,084
Employer contributions 353,019 594,278
Interest receivable 48,866 63,428
-------------- --------------
96,905,856 2,752,790
-------------- --------------
Net Assets Available for Benefits $1,532,859,235 $1,186,511,230
============== ==============
See Notes to Financial Statements.
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
For the Year Ended December 31, 2000
Participant Non-Participant
Directed Directed Total
Additions to Net Assets attributed to:
Investment income:
Dividend $ 37,807,487 $14,255,323 $ 52,062,810
Interest 2,725,270 - 2,725,270
Net realized and unrealized appreciation
of investments 10,915,503 210,492,003 221,407,506
-------------- ------------ --------------
Total investment income 51,448,260 224,747,326 276,195,586
Contributions:
Participant 53,720,053 - 53,720,053
Employer - net of forfeitures - 15,597,649 15,597,649
-------------- ------------ --------------
Total contributions 53,720,053 15,597,649 69,317,702
-------------- ------------ --------------
Total Additions 105,168,313 240,344,975 345,513,288
Distributions to withdrawing participants 70,015,262 24,267,980 94,283,242
-------------- ------------ --------------
Net increase before transfers 35,153,051 216,076,995 251,230,046
-------------- ------------ --------------
Transfers:
Plans transferred-in 91,547,410 - 91,547,410
Loans transferred-in 3,570,549 - 3,570,549
Interfund transfers 6,938,287 (6,938,287) -
-------------- ------------ --------------
Total transfers 102,056,246 (6,938,287) 95,117,959
-------------- ------------ --------------
Net increase 137,209,297 209,138,708 346,348,005
Net Assets Available for Benefits
Beginning of Year 862,854,897 323,656,333 1,186,511,230
-------------- ------------ --------------
End of Year $1,000,064,194 $532,795,041 $1,532,859,235
============== ============ ==============
See Notes to Financial Statements.
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Notes to Financial Statements
Note 1. General Description of the Plan
The following description of the Savings Plan of Entergy
Corporation and Subsidiaries (Entergy Savings Plan) is provided for
general information only. Entergy Savings Plan participants should
refer to the Entergy Savings Plan summary plan description for a
more complete description of the Entergy Savings Plan's provisions.
General: The Entergy Savings Plan is a defined contribution plan
of Entergy Corporation and Subsidiaries, collectively the Entergy
System Companies, subject to the provisions of the Employee
Retirement Income Security Act of 1974, as amended (ERISA). The
ERISA provisions set forth the requirements for participation,
vesting of benefits, fiduciary conduct for administering and
handling of assets, and disclosure of Entergy Savings Plan
information.
The Entergy Savings Plan constitutes two types of plans qualified
under Internal Revenue Code Section 401 as follows:
o A profit sharing plan; and
o A stock bonus plan which constitutes an Employee Stock
Ownership Plan (ESOP).
Plan Amendments in 2000: The Entergy Savings Plan was amended
effective November 21, 2000 to include certain provisions
applicable to "NY Employees." Generally, "NY Employees" include
employees transferred from the Power Authority of the State of New
York (NYPA) to an Entergy System Company, or employees hired by
Entergy Nuclear Operations, Inc. (ENUC) after November 21, 2000,
whose work location is either the James A. Fitzpatrick Nuclear
Power Station, the Indian Point 3 Nuclear Power Station, or
Entergy's White Plains, New York office that provides professional
support to those plants.
The Entergy Savings Plan was amended effective January 1, 2001 to
adopt certain benefit enhancements. These amendments apply to
eligible employees who are employed by a participating Entergy
System Company on or after January 1, 2001. These amendments do not
apply to NY Employees or bargaining employees located at the
Pilgrim Steam Electric Generating Station.
The Entergy Savings Plan was amended effective September 19, 2000
to include a special eligibility provision applicable to former
employees of TLG Services, Inc., who became employees of an Entergy
System Company on September 19, 2000.
The significant changes to the Entergy Savings Plan resulting from
these amendments are described throughout this note.
Trustee: The Entergy Savings Plan utilizes T. Rowe Price Trust
Company as its trustee and T. Rowe Price Retirement Plan Services,
Inc. as its recordkeeper and provider of other administrative
services. Except for NY Employees, the Entergy Savings Plan's
investments, which are managed by its trustee or affiliates of its
trustee, are:
o Entergy Stock Fund
o Stable Income Fund
o Balanced Fund
o Equity Income Fund
o Equity Index Trust
o Blue Chip Growth Fund
o New Horizons Fund
o New Income Fund
o International Stock Fund
o Participants' Loans
o Tradelink Participant-Directed Brokerage Accounts
Eligibility: Effective January 1, 2001, the Entergy Savings Plan
is available to participating Entergy System Company employees on
the first day of the calendar month following the employee's
employment commencement date, except that employees who begin work
on the first day of a month are eligible on that day. Prior to
2001, participants were required to satisfy a six-month service
requirement.
Contributions: Entergy Savings Plan contributions made by or on
behalf of participants are deposited with the trustee.
Participants may elect to contribute, through payroll deductions,
up to a total of 6% of their annual base salary (basic) for which
the employing Entergy System Company will make matching
contributions. Prior to January 1, 2001, participants could make
additional contributions up to a total of 10% of their annual base
salary (supplemental) for which there were no matching
contributions. Beginning in 2001, participants may make
supplemental contributions up to 13% of their annual base salary.
Basic and supplemental contributions may be made on a before-tax
basis (401(k) contributions), an after-tax basis, or a combination
of both. Contributions are limited by federal tax legislation.
The 401(k) contribution dollar limit for the calendar year 2000 was
$10,500 per participant.
Effective January 1, 2001, the employing Entergy System Company's
matching contribution to the Entergy Savings Plan on behalf of the
participant will be determined based on the participant's
investment election. If a participant's employer matching
investment election is directed entirely to the Entergy Stock Fund,
the employing Entergy System Company's matching contribution will
be equal to 75% of the participant's basic contribution. Employer
matching contributions not directed entirely to the Entergy Stock
Fund will receive matching contributions equal to 50% of the
participant's basic contribution. Matching contributions made by
the employing Entergy System Company prior to January 1, 2001 were
equal to 50% of the participant's basic contribution.
The Entergy Savings Plan provides that certain taxable amounts
received by an employee that originated from an employee benefit
plan qualified under Section 401(a) of the Internal Revenue Code of
1986, as amended (the Code), may be accepted under the Entergy
Savings Plan as rollover contributions (rollover contributions).
Investments: Participant contributions are invested as directed by
participants in accordance with the Entergy Savings Plan's
investment options. Earnings on participant contributions are
allocated based on participants' account balances.
Effective January 1, 2001, 50% matching contributions on
participant-elected contributions are invested as directed by
participants in accordance with the Entergy Savings Plan's
investment options and 75% matching contributions on participant-
elected deferrals are invested in the non-participant directed
Entergy Stock Fund. Prior to January 2001, matching contributions
based on participant-elected deferrals were invested by the Trustee
in the non-participant directed Entergy Stock Fund. Effective
January 1, 2001, participants can transfer a portion of their
matching contributions invested in the Entergy Stock Fund into
other Entergy Savings Plan investment funds if they are at least 50
years of age and have 10 years of participation in the Entergy
Savings Plan. Years of participation in the Gulf States Utilities
Company Employee's Thrift Plan, which merged into the Entergy
Savings Plan in 1997, also count for this purpose. The age
requirement prior to January 1, 2001 was 55 years of age.
The value of investments may fluctuate with changes in market
conditions. The amount of risk varies based on the fund's
investment goals and composition. Participants should realize the
risk associated with each investment when determining how to invest
their contributions.
Participant accounts: Each participant's account is credited with
the participant's contribution and allocation of the Entergy System
Companies' matching contribution and net earnings of the Entergy
Savings Plan. Allocations are based on participant earnings or
account balances, as defined.
Vesting: Amounts contributed by participants to the Entergy
Savings Plan are fully vested at all times. Effective January 1,
2001, participants who are employed on or after January 1, 2001 by
an Entergy System Company are fully vested in the company matching
account at all times. Prior to January 1, 2001, participants
became fully vested in the company matching account upon completion
of five years of service except for certain Entergy Gulf States'
employees who were immediately vested in past and future company
matching contributions.
In-Service withdrawals: While employed, participants may, with
certain restrictions, withdraw all or a portion of the value of
their basic and supplemental contributions, rollover contributions,
and System Individual Retirement Accounts. Such withdrawals may
include all or a portion of the value of their basic and
supplemental before-tax accounts if the participant has attained
age 59-1/2. Withdrawals of before-tax contributions may be subject
to a 10% premature distribution tax unless the participant is age
59-1/2 or older. A participant may also apply for a hardship
withdrawal from his 401(k) contributions if the participant
satisfies certain financial hardship withdrawal criteria.
A dividend pass through feature under the Entergy Savings Plan
allows eligible participants to either receive a cash distribution
of their ESOP Entergy Stock Fund dividends or reinvest the
dividends in the ESOP Entergy Stock Fund. Eligible participants
include all participants who are fully vested in their balance in
the non-participant directed ESOP Entergy Stock Fund. Effective
January 1, 2001, cash dividends on Entergy Corporation common stock
attributable to employer matching contributions made at the rate of
75% of the participant's basic contribution will be paid to the
employee in cash.
Effective January 1, 2001, employed participants may, with certain
restrictions, transfer from the ESOP Entergy Stock Fund a portion
of the amount credited to their ESOP accounts to other investment
funds (or withdraw such amount, in the case of certain Tax Credit
ESOP accounts) after the participant completes an 84-month holding
period or after the participant reaches age 50 and completes 10
years of plan participation. Prior to January 1, 2001, the age
requirement for withdrawals was 55. The amount of in-service
withdrawal is limited by provisions of the Code applicable to the
ESOP and may be subject to an additional 10% premature distribution
tax unless the participant is age 59-1/2 or older. Withdrawals
from the ESOP accounts are in the form of stock certificates, plus
cash for the value of any fractional share.
Loans to participants: The Entergy Savings Plan has a loan
provision whereby participants who are actively employed may borrow
an amount from their eligible account up to a maximum of 50% of the
vested balance of their account or $50,000, whichever is less. The
amount borrowed is deducted from the participant's eligible account
and repaid with interest based on the prime rate plus 1% in
accordance with an established schedule. The loan must be repaid
within 4-1/2 years or 20 years if for the acquisition of the
participant's primary residence. If a participant with an
outstanding loan separates from service, the remaining principal
balance of the loan is treated as a taxable distribution to the
participant unless the amount is repaid in full within a specified
period from the date of separation.
Payment of Benefits: Participants become eligible to receive a
single-sum distribution of the entire vested value of the
participant's Entergy Savings Plan accounts upon termination of
employment, retirement, disability, or death. There are certain
provisions regarding deferral of distributions; installment
distributions for terminated participants, retirees, and disabled
participants; minimum account balances; and mandatory
distributions.
Generally, there are tax consequences associated with receiving a
distribution from the Entergy Savings Plan, unless the taxable
portion is rolled over to an individual retirement account or
another retirement plan account which qualifies under Internal
Revenue Code Sections 408(a) or 401(a). Additionally, a 10% penalty
tax for early withdrawal applies, unless the distribution is
received after age 59-1/2 or the participant satisfies one of the
legal exemptions to such tax.
Inactive accounts: Participants are allowed, under the provisions
of the Entergy Savings Plan, to defer receipt of their vested
account balance upon separation from the Entergy Savings Plan until
age 70-1/2. The amount allocated to such participants was
$214,295,647 at December 31, 2000.
Forfeitures: Upon termination of employment for reasons other than
retirement, disability, or death, the portion of the employee's
account in which he/she is not vested at the time of termination
shall be forfeited and credited to a forfeiture account. Amounts
forfeited for the year ended December 31, 2000 were $454,132.
Forfeitures are used first to pay administrative expenses and the
residual to reduce employer contributions.
NY Employees: The Entergy Savings Plan was amended effective
November 21, 2000 for NY employees in the following respects.
Eligibility: NY employees become eligible to participate in the
Entergy Savings Plan upon commencement of employment with an
Entergy System Company.
Contributions: Entergy Savings Plan contributions made by or on
behalf of NY employees are deposited with the trustee. Non-
bargaining NY Employees may elect to contribute, through payroll
deductions, up to a total of 6% of their annual base salary
(basic). The employing Entergy System Company will make matching
contributions to the Entergy Savings Plan on behalf of the
participant in an amount equal to 50% of the participant's basic
contribution. Participants may make additional contributions up to
a total of 9% of their annual base salary (supplemental) for which
there are no matching contributions. Basic and supplemental
contributions may be made on a before-tax basis (401(k)
contributions), an after-tax basis, or a combination of both.
Contributions are limited by federal tax legislation. The 401(k)
contribution dollar limit for the calendar year 2000 was $10,500
per participant.
Bargaining NY Employees may only contribute to the Entergy
Savings Plan on a before-tax basis. These contributions may not
exceed: (1) 25% of earnings if the employee is credited with ten or
more years of benefit service or does not participate in the
Entergy Corporation Retirement Plan III; or (2) 22% of earnings if
the employee is credited with less than ten years of benefit
service and participates in the Entergy Corporation Retirement Plan
III. Bargaining NY Employees are not eligible for employer
matching contributions.
Investments: Matching contributions made on behalf of non-
bargaining NY Employees, based on their elected contributions, are
invested by the trustee in the non-participant directed Entergy
Stock Fund. Participant contributions are invested as directed by
participants in accordance with the investment options made
available to non-bargaining and bargaining NY Employees. The
following table represents the Entergy Savings Plan's investments
available to non-bargaining NY Employees (which includes any
amounts transferred from the NYPA Savings Plan for bargaining NY
Employees) and to bargaining NY Employees, which are managed by its
trustee or affiliates of its trustee. These investment options
will be made available until at least November 21, 2001, to the
extent available, under the Entergy Savings Plan.
o Stable Value Trust 1
o Mid-Cap Value Fund 1
o Value Fund 1
o Prime Reserve Fund 1
o Growth and Income Fund
o New America Growth Fund
o Science and Technology Fund
o Capital Appreciation Fund
o Spectrum Income Fund
o Spectrum Growth Fund
o Equity Index 500 Fund
o Growth Stock Fund 2
1 Available to bargaining NY Employees only
2 Available to non-bargaining NY Employees only
Participant accounts: Transferred NY Employees' before-tax and
after-tax accounts under the NYPA Savings Plan were transferred to
the Entergy Savings Plan by direct trust-to-trust transfer.
Vesting: Transferred NY Employees are fully vested at all times
in the accounts transferred to the Entergy Savings Plan. Non-
bargaining NY Employees become fully vested in the employer
matching account upon completion of five years of service. Years
of participation under the NYPA Savings Plan also count for this
purpose.
In-Service withdrawals: Special in-service withdrawal
provisions apply to non-bargaining NY Employees and to that portion
of a bargaining NY Employee's accounts transferred from the NYPA
Savings Plan. Under these provisions, the NY Employee may, with
certain restrictions, withdraw all or a portion of the value of
their after-tax contributions and any vested portion of their NYPA
Company account. NY Employees described in this paragraph who have
attained age 59-1/2 may, without penalty and subject to certain
restrictions, withdraw all or a portion of their NYPA Company,
Deferral, Qualified Non-Elective, Rollover, and Discretionary
Employer Contribution accounts. A separate financial hardship
withdrawal provision also applies.
Loans to participants: Certain provisions apply to non-
bargaining NY Employees under the Entergy Savings Plan loan
program. Non-bargaining NY Employees may have two loans
outstanding at any time. In addition, the loan repayment period is
subject to a 30-year maximum for a participant's primary residence
loan, and a 5-year maximum for all other loans. The amount borrowed
is deducted from the participant's eligible account and repaid with
interest based on the prime rate plus 1% in accordance with an
established schedule. Bargaining NY Employee participants are not
eligible for new loans under the Entergy Savings Plan.
Payment of benefits: Transferred NY employees shall be paid in
the form of cash for that portion of their Company account that was
transferred from the NYPA Savings Plan upon termination of
employment, retirement, disability, or death. There are certain
provisions applicable to non-bargaining and bargaining NY Employees
that are carried over from the NYPA Savings Plan and the NYPA DC
Plan, respectively, regarding the timing and form of payment of
benefits.
Note 2. Summary of Significant Accounting Policies
Basis of presentation: The accompanying financial statements have
been prepared on the accrual basis of accounting.
Use of estimates in the preparation of financial statements: The
preparation of the Entergy Savings Plan financial statements, in
conformity with accounting principles generally accepted in the
United States, requires management to make estimates and
assumptions that affect reported amounts in the Statements of Net
Assets Available for Benefits and the Statement of Changes in Net
Assets Available for Benefits, such as those regarding fair value.
Adjustments to the reported amounts may be necessary in the future
to the extent that future estimates or actual results are different
from the estimates used in the financial statements.
Investment valuation: Cash and temporary cash investments and
loans to participants are valued at cost, which approximates fair
value. Investments in equity and fixed income securities are
stated at their fair value as determined by quoted market prices on
the valuation date, in compliance with the Department of Labor
Rules and Regulations for Reporting and Disclosure under ERISA.
The values of guaranteed investment contracts (GICs) are recorded
at contract value, which approximates fair market value. Contract
value represents amounts invested under the GICs, plus interest
earned and reinvested through the valuation date at the contracted
rate. The values of synthetic investment contracts (SICs) are
recorded at contract value, which approximates fair market value,
because participants are guaranteed a return of principal and
accrued interest. SICs are similar to GICs except that the assets
of a SIC are placed in a trust with ownership by the Entergy
Savings Plan and a financially responsible third party issues a
wrapper contract. A wrapper contract is an insurance policy that
guarantees a stated rate of return on specific Entergy Savings Plan
assets placed in the trust.
Payment of benefits: Benefits payable for terminations and
withdrawals are recorded when paid. This accounting method differs
from that required in the Internal Revenue Service and Department
of Labor Form 5500, which requires benefits payable to be accrued
and charged to net assets in the period the liability arises.
Income recognition: The difference in fair value from one period
to the next is recognized and included in net realized and
unrealized appreciation of investments in the accompanying
Statement of Changes in Net Assets Available for Benefits. The net
appreciation also includes realized gains and losses.
Purchases and sales of securities are accounted for on a trade-date
basis. Interest income is recorded on the accrual basis.
Dividends are recorded on the ex-dividend date.
Administrative expenses: All costs and expenses of administering
the Entergy Savings Plan, except expenses incurred in the direct
acquisition or disposition of stock and investment manager fees,
are paid first by forfeitures and then by Entergy Corporation.
Concentration of credit risk: The Entergy Savings Plan invests in
GICs and SICs which are subject to credit risk with respect to the
insurance companies that back them. The potential credit risk of
the GICs as of December 31, 2000 is $18,276,970. The potential
credit risk for the SICs represents the amount by which the
contract value exceeds the fair value of the SIC assets in the
trust. As of December 31, 2000, the contract value of the SIC
assets was $183,710,228. The fair value of the SIC assets exceeded
the contract value by $56,434. The Entergy Savings Plan provisions
set investment guidelines addressing investment diversification,
quality, maturity and performance standards prescribed to mitigate
the potential credit risk.
New accounting pronouncements: In June 1998, the FASB issued SFAS
133, "Accounting for Derivative Instruments and Hedging
Activities," which was implemented effective January 1, 2001. This
statement requires that all derivatives be recognized in the
balance sheet, either as assets or liabilities, measured at fair
value. The Entergy Savings Plan currently holds only one type of
instrument that may be affected by SFAS 133, the SICs. The Entergy
Savings Plan did not apply SFAS 133 to the SICs as of January 1,
2001 because of an inconsistency between SFAS 133 and other
accounting literature. The AICPA Audit and Accounting Guide on
"Audits of Employee Benefit Plans" and Statement of Position 94-4,
"Reporting of Investment Contracts Held by Health and Welfare
Benefit Plans and Defined-Contribution Pension Plans," require
measurement of benefit responsive investment contracts, including
SICs, at contract value. Management believes that the contract
value of the SICs approximates their fair value, and the Entergy
Savings Plan will continue to measure SICs at contract value unless
resolution of the discrepancy requires a different treatment.
Note 3. Investment Contracts With Insurance Companies
The Stable Income Fund of the Entergy Savings Plan invests in a
diversified portfolio of GICs and SICs issued by insurance
companies and other financial institutions. The average yield for
the Stable Income Fund was approximately 6.5% for 2000 and 6.0%
for 1999. The crediting interest rates varied from 6.06%-6.60%
for 2000 and 1999.
Note 4. Investments
The following represents investments in excess of 5% of the current
value of net assets available for benefits as of December 31, 2000
and 1999:
2000 1999
Entergy Corporation common stock* $601,837,292 $374,592,513
Equity Index Trust $113,274,766 $127,558,401
Mutual Funds:
Equity Income Fund $107,032,333 $113,826,219
Blue Chip Growth Fund $182,016,956 $164,863,603
New Horizons Fund $ 90,087,830 $ 62,870,586
Stable Income Fund:
Synthetic Investment Contracts:
Rabobank Nederland SIC Assets $ 89,697,671 $ 72,441,605
Commonwealth Life Insurance Company
and Transamerica Life Insurance and
Annuity Company SIC Assets $ 90,189,695 $ 93,374,980
* As of December 31, 2000, $532,441,519 of the Entergy
Corporation common stock and as of December 31, 1999,
$322,856,754 of the Entergy Corporation common stock was
non-participant directed.
During 2000, the Entergy Savings Plan's investments (including
gains and losses on investments bought and sold, as well as held
during the year) appreciated in value by $221,407,506 as follows:
Entergy Corporation common stock $255,060,999
Mutual funds $(34,163,904)
Common trust funds $(11,238,926)
Synthetic investment contracts $ 14,030,356
Brokerage accounts $ (2,281,019)
Non-bargaining NY employees' before-tax and after-tax accounts
under the NYPA Savings Plan were transferred to the Entergy Savings
Plan effective November 21, 2000 and received in January 2001.
Therefore, the plans and loans transferred are reflected in
the Statement of Net Assets and the Statement of Changes in Net
Assets for the year ending December 31, 2000.
Note 5. Tax Status
Entergy Savings Plan obtained its latest determination letter on
March 26, 1997, in which the Internal Revenue Service stated that
the Entergy Savings Plan, as then designed, was in compliance with
the applicable requirements of the Code. The Entergy Savings Plan
has been amended since receiving the determination letter.
However, the plan administrator and the plan's tax counsel believe
that the Entergy Savings Plan is currently designed and being
operated in compliance with the applicable requirements of the
Code. Accordingly, no provision for income taxes has been included
in the Entergy Savings Plan's financial statements.
Note 6. Entergy Savings Plan Termination
Although it has not expressed any intent to do so, the Entergy
System Companies have the right under the Entergy Savings Plan to
discontinue their contributions at any time and Entergy Corporation
has the right to terminate the Entergy Savings Plan subject to the
provisions of ERISA. In the event that the Entergy Savings Plan is
terminated, subject to conditions set forth in ERISA, the Entergy
Savings Plan provides that all participants will be fully vested
and the net assets of the Entergy Savings Plan be distributed to
participants in proportion to their respective vested interests in
such net assets at that date.
Note 7. Related Party Transactions
Certain of the Entergy Savings Plan investments are shares in funds
managed by T. Rowe Price Trust Company who is the trustee, as
defined by the Entergy Savings Plan and, therefore, these
investments and investment transactions qualify as party-in-
interest transactions. As the Entergy Savings Plan holds common
stock of Entergy Corporation as an investment, these investments
and investment transactions also qualify as party-in-interest
transactions. The year-end market price of Entergy Corporation
common stock was $42.31 and $25.75 at December 31, 2000 and 1999,
respectively.
Note 8. Reconciliation to Form 5500
As of December 31, 2000 and 1999, the Entergy Savings Plan had
approximately $687,782 and $286,795, respectively, of pending
distributions to participants who elected to withdraw from the
Entergy Savings Plan. These amounts are recorded as a liability in
the Entergy Savings Plan's Form 5500; however, these amounts are
not recorded as a liability in the accompanying statements of net
assets available for benefits in accordance with generally accepted
accounting principles.
The following reconciles the financial statements to the Entergy
Savings Plan Form 5500 for the plan year ended December 31, 2000
and 1999:
Net Assets Available Benefits Paid
for Benefits
2000 1999 2000 1999
Per financial statements $1,532,859,235 $1,186,511,230 $94,283,242 $ 80,770,242
Pending distributions to participants (687,782) (286,795) 400,987 286,795
-------------- -------------- ----------- ------------
Per Form 5500 $1,532,171,453 $1,186,224,435 $94,684,229 $ 81,057,037
============== ============== =========== ============
SUPPLEMENTAL SCHEDULES
SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES
Schedule of Assets (Held at End of Year)
E.I.N. 72-1229752 (Plan No. 003)
Number Current
Description of Shares Cost Value
Cash and temporary cash investments N/A $30,356,253 $ 30,356,253
------------- -------------
ENTERGY STOCK FUND:*
Entergy Corporation common stock, $.01 par 14,223,629 $357,081,547 $ 601,837,292
---------- ------------- -------------
MUTUAL FUNDS:
T. Rowe Price Trust Company*:
Balanced Fund 2,506,711 42,276,131 48,053,666
Equity Income Fund 4,338,563 104,370,481 107,032,333
Blue Chip Growth Fund 5,377,163 147,421,678 182,016,956
New Horizons Fund 3,770,943 93,967,407 90,087,830
New Income Fund 694,738 5,977,717 5,905,271
International Stock Fund 1,162,811 18,923,250 16,884,022
Mid-Cap Value Fund 31 471 478
Value Fund 57 1,097 1,100
Prime Reserve Fund 12,825 12,825 12,825
Growth and Income Fund 1,703 41,885 41,628
New America Growth Fund 247 9,422 8,848
Science and Technology Fund 2,048 79,433 72,860
Capital Appreciation Fund 501 6,896 6,984
Spectrum Income Fund 314 3,355 3,375
Spectrum Growth Fund 902 14,260 14,171
Equity Index 500 Fund 976 35,169 34,629
Growth Stock Fund 1,175 32,420 31,953
---------- ------------- -------------
TOTAL MUTUAL FUNDS 17,871,708 $413,173,897 $ 450,208,929
---------- ------------- -------------
COMMON TRUST FUND:
T. Rowe Price Trust Company*:
Equity Index Trust 3,233,650 88,217,506 113,274,766
Stable Value Trust 28,742 28,742 28,742
--------- ------------- -------------
TOTAL COMMON TRUST FUNDS 3,262,392 $ 88,246,248 $ 113,303,508
--------- ------------- -------------
BROKERAGE ACCOUNTS:
Tradelink Brokerage Accounts:
Alleghany/Chicago Trust Growth & Income 79 2,242 2,034
American Century Equity Growth 413 10,957 8,985
American Century Income & Growth 77 2,512 2,312
American Century International Bd Inv 804 11,624 8,786
American Century Twentieth 96 3,892 3,110
Amerindo Technology Fund 120 2,500 1,403
Berger Mid-Cap Value Fund 1,848 26,348 26,589
Berger New Generation Fund 2,188 81,438 34,878
Berger Small Company Growth 692 4,910 3,313
Citizens Emerging Growth Fund 432 13,244 8,798
Citizens Global Equity Fund 322 8,692 7,371
Columbia Real Estate Equity 506 8,870 9,058
Dresdner RCM Biotechnology 62 2,503 2,267
Dreyfus Aggressive Value Fund 780 20,919 19,102
Dreyfus Mid-Cap Value Fund 1,531 38,732 36,651
Federated International Small 45 1,500 1,162
Fidelity Aggressive Growth 986 60,203 35,647
Fidelity Asset Manager Growth 882 17,887 14,040
Fidelity Diversified 615 15,015 13,496
Fidelity Fund 558 23,008 18,295
Fidelity Growth Company Fund 456 41,940 32,546
Fidelity Mid Cap Stock Fund 387 10,333 10,077
Fidelity OTC Fund 157 11,761 6,464
Fidelity Select Computers 167 20,196 8,762
Fidelity Select Electronics 274 33,686 15,845
Number Current
Description of Shares Cost Value
Fidelity Select Technology 109 17,680 9,680
Firsthand FDS 162 15,372 12,039
Gabelli Global Interactive 167 5,396 3,395
Gabelli Growth Fund 327 14,920 12,367
Gabelli Small Cap Growth Fund 1,205 29,321 22,539
Harbor Capital Appreciation 5,384 255,026 191,555
Icon Technology Fund 1,043 22,707 12,188
Invesco Blue Chip Growth Fund 1,595 14,976 8,213
Invesco Dynamics Fund 3,632 91,999 86,339
Invesco Energy Fund 3,150 62,992 65,772
Invesco Financial Services 1,674 52,870 54,069
Invesco Gold Fund 12,583 20,008 18,372
Invesco Health Sciences Fund 734 41,944 43,587
Invesco Technology Fund 6,458 587,488 386,007
Invesco Telecommunications 2,073 109,620 75,207
Investec Internet.com Index 1,609 30,344 14,673
Janus Balanced Fund 567 12,869 12,043
Janus Enterprise Fund 2,344 188,807 124,869
Janus Fund 1,344 59,083 44,756
Janus Growth & Income Fund 793 34,145 28,044
Janus Mercury Fund 8,361 364,059 248,062
Janus Orion Fund 1,957 19,492 13,721
Janus Worldwide Fund 221 16,761 12,563
Liberty Acorn International-Z 569 16,133 13,573
Loomis Sayles Aggressive 261 10,161 8,497
Managers Capital Appreciation 282 16,666 12,067
Marsico Focus Fund 7,325 152,364 126,202
Munder Framlington Healthcare 505 15,415 14,372
PBHG Emerging Growth Fund 324 12,946 7,693
PBHG Global Technology And Communications 4,788 54,201 35,382
PBHG Growth Fund 2,431 130,780 75,597
PBHG Large-Cap 20 Fund 11,824 471,348 297,972
PBHG Large-Cap Growth Fund 382 14,362 11,130
PBHG Large-Cap Value Fund 2,882 35,154 39,996
PBHG Select Equity Fund 8,751 605,354 360,817
PBHG Small-Cap Value Fund 255 5,258 5,021
PBHG Strategic Small Company 210 3,504 3,196
PBHG Technology And Communications 23,756 1,468,766 817,904
Pin Oak Aggressive Stock Fund 1,892 134,943 87,928
Prime Reserve 322,818 322,818 322,818
Red Oak Technology Select Fund 8,515 296,677 185,466
Royce Opportunity Fund 5,805 54,020 45,161
RS Diversified Growth Fund 2,145 70,273 48,976
RS Information Age Fund 500 20,775 9,499
Rydex Series OTC Fund 2,642 66,701 44,671
Scudder Gold Fund 1,003 5,917 6,007
Scudder Greater Europe Growth 763 26,162 23,689
Scudder International Fund 236 15,049 11,882
Scudder Large Company Growth 120 5,154 3,958
Security Capital Real Estate Fund 608 7,071 7,380
Selected American Shares Inc. 333 13,284 11,756
Sit Mid-Cap Growth Fund 1,277 29,376 20,477
Sit Small-Cap Growth Fund 302 12,654 10,631
SSgA Growth & Income Fund 197 5,227 4,329
Strong American Utilities Fund 540 9,461 9,442
Strong Enterprise Fund 3,085 121,624 87,521
Strong Growth 20 Fund 469 14,162 11,798
Strong Growth & Income Fund 546 15,192 13,843
Strong Growth Fund 2,508 97,162 67,852
Strong Large-Cap Growth Fund 280 11,730 9,730
Strong Mid-Cap Growth Fund 397 11,049 8,032
Strong Small-Cap Value Fund 123 2,014 2,107
Strong U.S. Emerging Growth 330 7,687 6,322
T. Rowe Price Blue Chip Growth 350 14,221 11,839
Number Current
Description of Shares Cost Value
T. Rowe Price Emerging Market 497 7,312 5,675
T. Rowe Price European Stock 323 7,522 6,676
T. Rowe Price Financial 1,179 23,200 25,202
T. Rowe Price Health Sciences 4,134 91,634 89,702
T. Rowe Price Media & Telecom 1,697 63,407 36,737
T. Rowe Price New Era Fund 228 5,399 5,550
T. Rowe Price Science & Tech 9,526 564,359 338,856
T. Rowe Price Small-Cap Value 833 16,472 15,939
The Internet Fund, Inc. 4,608 167,000 111,151
Third Avenue Value Fund 638 24,882 23,120
Turner Mid-Cap Growth Fund 1,965 73,070 60,115
Turner Technology Fund 1,735 53,421 22,156
Turner Top Twenty Fund 878 22,888 10,910
U.S. Global Investors Bonnel Growth Fund 1,351 36,559 25,798
Ultraotc Profund-Investor 284 25,000 6,470
Value Line Leveraged Growth 161 8,750 7,352
Van Wagoner Mid-Cap Fund 4,282 140,347 86,833
Van Wagoner Post Venture Fund 4,664 204,670 123,693
Van Wagoner Technology Fund 1,669 118,125 69,878
Vanguard Index Trust S & P 18 2,514 2,222
Vanguard International Growth 117 2,482 2,199
Vanguard Primecap Fund 73 4,868 4,407
Vanguard U.S. Growth Portfolio 204 9,426 5,631
Warburg Pincus Capital Appreciation 767 23,511 18,139
Warburg Pincus Emerging Growth 176 9,236 6,324
Warburg Pincus Global 1,114 73,882 46,976
Warburg Pincus Global Post-Vent Capital 579 16,710 13,144
Westport Small-Cap Fund 343 6,300 6,255
White Oak Growth Stock Fund 5,942 450,077 374,788
Settlement Fund N/A N/A 12,315
------- ------------ -------------
TOTAL BROKERAGE ACCOUNTS 544,283 $ 9,198,629 $ 6,297,797
------- ------------ -------------
Interest Maturity Current
Rate Date Cost Value
STABLE INCOME FUND:
Guaranteed Investment Contracts (GICs):
GE Life & Annuity 6.06% 6/27/01 5,938,336 5,938,336
GE Life & Annuity 6.10% 9/26/01 5,891,123 5,891,123
Protective Life Insurance Company 6.60% 3/20/01 6,447,511 6,447,511
-------------- -------------
Total GICs $ 18,276,970 $ 18,276,970
-------------- -------------
Synthetic Investment Contracts (SICs):
Caisse des Depots et Cosignations Investment
Management Corporation SIC Assets:
Government obligations:
FHR 1724 PO 0.00% 5/15/01 3,491,959 3,879,297
Total Caisse des Depots et Cosignations Investment
-------------- -------------
Management Corporation SIC Assets $ 3,491,959 $ 3,879,297
-------------- -------------
Rabobank Nederland SIC Assets:
Non-government obligations:
AMERICAN EXPRESS 6.40% 4/15/05 2,073,437 2,021,549
AMERICAN EXPRESS 5.90% 4/15/04 2,048,828 2,006,564
BMW 6.54% 4/25/04 249,967 253,055
CITIBANK 5.30% 1/9/06 973,320 1,010,247
CITIBANK 5.80% 2/7/05 2,036,406 2,040,300
CELT 5.77% 8/15/05 1,469,883 1,497,284
DISCOVER 5.80% 9/16/03 1,986,875 2,032,236
DISCOVER 6.20% 5/16/06 1,966,406 2,030,184
DIST. FI 5.70% 2/16/09 477,018 477,062
DIST. FI 6.88% 11/15/16 1,499,497 1,533,177
FIRST NATIONAL BANK 6.15% 9/15/04 1,990,937 2,015,587
FIRST U.S. 6.42% 3/17/05 2,069,922 2,018,853
Interest Maturity Current
Rate Date Cost Value
FIRST U.S. 5.28% 9/18/06 975,664 986,297
FORDO 6.40% 10/15/02 500,098 502,542
ONYX 7.00% 11/15/04 749,816 767,393
PECO 5.80% 3/1/07 960,977 1,014,803
SEARS CREDIT 6.20% 7/16/07 2,049,766 2,013,311
SEARS CREDIT 5.95% 10/7/04 1,099,731 1,142,552
WFNMT 6.95% 4/15/06 2,009,687 2,051,558
ABBEY NATIONAL MTN 6.69% 10/17/05 311,220 305,545
ALLTEL CORP DEB 6.75% 9/15/05 975,156 956,237
AMERICAN GENERAL FINANCE CORP 5.75% 11/1/03 938,280 990,563
AMERITECH CAP 6.15% 1/15/08 549,098 542,563
ANZ BANKING GR 7.55% 9/15/06 499,240 529,200
ARCHER DANIELS MIDLAND COMPANY 0.00% 5/1/02 1,684,320 1,838,320
ASSOC CORP. OF NORTH AMERICA 5.75% 10/15/03 939,390 994,129
ASSOC CORP. OF NA SNR NTS 7.60% 12/17/02 1,610,805 1,559,830
AT&T CORP NT 7.00% 5/15/05 321,180 300,604
BANKAMERICA CORP 7.20% 9/15/02 1,054,610 1,034,760
BANKAMERICA CORP 10.00% 2/1/03 571,705 554,683
BANKERS TRUST NY 8.13% 5/15/02 1,558,335 1,547,028
BELLSOUTH TELECOMM 6.25% 5/15/03 970,280 1,003,786
BHP FINANCE USA 7.88% 12/1/02 392,272 381,833
CHESAPEAKE & POTOMAC TEL CO 6.05% 5/15/03 982,450 999,211
COMMERCIAL CREDIT NOTE 6.88% 5/1/02 1,026,200 1,017,608
CONOCO INC 5.90% 4/15/04 698,992 704,036
DAIMLER CHRYSLER 6.46% 12/7/01 986,940 1,005,651
FARMERS INS EXCH 144A 8.50% 8/1/04 543,545 533,778
FORD MOTOR CREDIT CORP 6.63% 6/30/03 496,480 499,907
FORD MOTOR CREDIT SR NT 6.55% 9/10/02 1,035,780 1,023,126
GENERAL MOTORS ACCEPTANCE CORP 6.75% 2/7/02 1,022,750 1,031,790
GOLDMAN SACHS GROUP 6.65% 8/1/03 971,550 1,035,288
HELLER FINANCIAL INC NTS 6.44% 10/6/02 498,200 505,273
HOUSEHOLD FINANCE CORP 6.25% 8/15/03 951,770 998,326
INGERSOLL-RAND CO 6.26% 2/15/01 1,000,000 1,023,130
KANSALLIS-OSAKE-PANKKI 10.00% 5/1/02 566,925 529,068
LEHMAN BROS HLDGS MTN 7.25% 10/15/03 978,890 1,034,126
LIBERTY MUTUAL INS 144A 8.20% 5/4/07 536,300 509,047
MERRILL LYNCH 6.00% 2/12/03 1,524,105 1,529,785
MERRILL LYNCH & CO MTN 5.71% 1/15/02 498,605 510,210
MERRILL LYNCH NOTES 8.00% 2/1/02 1,035,700 1,050,853
MET LIFE 144A SURPLUS NT 6.30% 11/1/03 484,235 500,200
MORGAN STANLEY GROUP SER 6.50% 12/31/01 751,703 750,120
MORGAN STANLEY GROUP NTS 9.38% 6/15/01 542,145 508,948
NATIONWIDE MUTUAL LIFE 6.50% 2/15/04 495,100 500,943
NATL RURAL UTIL NTS 6.38% 10/15/04 1,003,480 1,017,448
ONTARIO SNR 8.00% 10/17/01 1,012,850 1,030,704
PDVSA FINANCE 144A 6.65% 2/15/06 499,038 469,884
PHILIP MORRIS 6.80% 12/1/03 498,670 499,638
PITNEY BOWES CREDIT CORP 5.50% 4/15/04 500,000 491,856
PROCTOR & GAMBLE CO 6.60% 12/15/04 971,680 1,028,473
PUBLIC SERVICE ELECTRIC & GAS 8.88% 6/1/03 414,221 389,537
ROCKWELL INTL NT 6.75% 9/15/02 1,572,075 1,524,128
SALOMON SMITH BARNEY 6.25% 1/15/05 496,925 509,250
SANTANDER FIN ISS LTD 7.00% 4/1/06 498,390 510,520
SEARS ROEBUCK ACCEPTANCE SNR NTS 6.05% 2/18/03 1,520,130 1,515,955
SOUTHWEST AIR DEB 8.75% 10/15/03 109,269 107,351
SOUTHWESTERN BELL 5.88% 6/1/03 979,180 996,716
TCI COMMUN INC 6.38% 5/1/03 970,340 996,465
WORLDCOM INC 6.25% 8/15/03 961,660 1,003,811
-------------- -------------
Subtotal non-government obligations $ 69,200,399 $ 69,845,795
Interest Maturity Current
Rate Date Cost Value
Government and agency obligations:
FHLMC 15YR GOLD E7-2049 6.00% 9/1/13 38,562 38,165
FHLMC 15YR GOLD E7-3619 6.00% 12/1/13 694,059 686,922
FHLMC 15YR GOLD E7-4845 6.00% 2/1/14 1,363,753 1,348,676
FHLMC 15YR GOLD E0-0625 6.00% 2/1/14 1,927,584 1,906,502
FHLMC 15YR GOLD E7-5233 6.00% 1/1/14 827,820 819,307
FHLMC 15YR GOLD E7-4438 6.00% 1/1/14 220,971 218,563
FHR 2083 VC 6.50% 9/15/05 1,274,593 1,293,538
GNMA 30 YR 780454X 7.00% 10/15/26 72,173 73,908
GNMA 30 YR 780459X 7.00% 11/15/26 346,206 354,526
GNMA 30 YR 781129X 7.00% 11/15/28 526,321 551,658
GNMA II 002359M 7.00% 1/20/27 668,322 682,394
GNMA I 392442X 8.00% 7/15/24 30,428 31,143
GNMA I 403923X 8.00% 7/15/24 181,076 185,332
GNMA I 414564X 7.50% 8/15/25 182,939 185,617
GNMA I 416123X 7.50% 1/15/26 202,516 210,139
GNMA I 317516X 8.50% 2/15/22 92,583 92,422
GNMA I 317696X 8.50% 2/15/22 84,851 84,703
GNMA I 336918X 8.50% 12/15/22 94,829 94,664
GNMA I 421739X 7.50% 6/15/26 195,486 203,683
GNMA I 424000X 7.50% 9/15/26 162,765 169,590
GNMA I 780463X 7.00% 11/15/26 502,118 514,186
FED FARM CREDIT BANK MTN 8.80% 1/31/02 326,016 321,191
FNMA 31359MDN0 5.63% 3/15/01 1,916,568 1,928,657
FNMA 3135866A2 6.80% 1/10/03 1,040,300 1,054,870
FNMA 31359MBUK1 6.88% 7/18/02 2,002,109 2,096,217
FNMA 3133905L6 7.56% 2/27/02 4,826,250 4,705,303
-------------- -------------
Subtotal government and agency obligations $ 19,801,198 $ 19,851,876
-------------- -------------
Total Rabobank Nederland SIC Assets $ 89,001,597 $ 89,697,671
-------------- -------------
Commonwealth Life Insurance Company and Transamerica Life
Insurance and Annuity Company SIC Assets:
Non-government obligations:
AMERITECH CAP 6.15% 1/15/08 499,180 493,239
BANKBOSTON N.A. 7.00% 9/15/07 1,019,990 1,022,491
BAXTER INTERNATIONAL INC 9.50% 6/15/08 1,222,290 1,147,232
BK OF NY 7.78% 12/1/26 771,975 694,683
BOEING CO DEB 8.75% 8/15/21 1,136,010 1,240,646
BRITISH TELECOM PLC 8.13% 12/15/10 539,120 550,097
CITIZENS UTILITY DEB 7.00% 11/1/25 933,110 793,727
CIPGE 6.42% 9/25/08 735,234 760,598
CNH 7.34% 2/15/07 99,986 102,310
DCAT 6.66% 1/8/05 599,978 611,133
DEUTSCHE TELEKOM FINANCE GROUP 8.00% 6/15/10 996,570 1,022,586
DHMT 5.90% 5/25/06 1,725,094 1,793,850
ELI LILLY & CO NT 7.13% 6/1/25 933,470 1,043,858
FORD CAPITAL B V GTD NT 9.88% 5/15/02 1,107,900 1,051,808
GMAC MTN 7.05% 4/23/02 1,028,650 1,027,545
GTE CALIFORNIA DEB 6.70% 9/1/09 981,140 1,002,233
HERTZ CORP 6.63% 5/15/08 1,992,560 1,934,091
HOUSTON LTG & PWR 9.15% 3/15/21 1,141,340 1,146,022
LEHMAN BROS HLDGS MTN 9.17% 2/28/02 1,095,240 1,061,222
LIBERTY MUTUAL INS 8.20% 5/4/07 1,072,600 1,018,093
LUCENT TECHNOLOGIES, INC. 5.50% 11/15/08 572,482 462,776
M & T BANK CORP 8.00% 10/1/10 499,400 531,391
MERRILL LYNCH NOTES 6.25% 10/15/08 971,340 977,824
MIDLAND BANK PLC 7.63% 6/15/06 267,690 257,910
MMCA 6.80% 8/15/03 749,766 757,434
NAROT 7.17% 8/15/04 999,993 1,029,977
NATIONAL AUSTRALIA BANK LTD 8.60% 5/19/10 1,003,780 1,120,603
NATIONWIDE MUTUAL INSURANCE CO 7.50% 2/15/24 935,820 880,443
PDVSA FINANCE LTD 6.80% 11/15/08 997,879 882,559
PUB SVS ELEC & GAS FMG 6.25% 1/1/07 984,740 1,012,970
SANTANDER FIN ISSUE LTD 6.38% 2/15/11 944,230 942,453
Interest Maturity Current
Rate Date Cost Value
TAOT 6.80% 4/15/07 449,978 461,449
TELEFONICA EUROP 7.35% 9/15/05 674,737 696,551
ZURICH REINS CENTRE BLDG 7.13% 10/15/23 989,667 992,378
-------------- -------------
Subtotal non-government obligations $ 30,672,939 $ 30,524,182
Government and agency obligations:
AMLT 98-1 AG 6.43% 3/25/28 1,797,398 1,769,379
COMM 7.42% 4/15/10 815,375 851,694
FEDERAL HOME LOAN BANK 7.31% 6/16/04 2,137,734 2,105,792
FEDERAL HOME LOAN BANK 5.38% 3/2/01 1,993,820 2,032,255
FEDERAL HOME LOAN MORTGAGE 5.75% 6/15/01 340,446 345,323
FEDERAL HOME LOAN MORTGAGE 6.88% 1/15/05 1,693,858 1,833,875
FHLM 6.00% 8/15/07 957,789 996,567
FHLMC GOLD C1-9469 6.00% 12/1/28 2,646,097 2,604,308
FHLMC GOLD C1-1095 7.00% 11/1/30 1,563,133 1,610,183
FNMA 5.25% 1/15/03 3,918,125 4,069,513
FNMA 30 YR 457024 6.50% 1/1/29 827,898 815,381
FNMA 30 YR 479028 6.50% 1/1/29 786,520 774,628
FNMA 30 YR 445559 6.50% 10/1/28 33,711 33,243
FNMA 30 YR 454777 6.50% 12/1/28 36,925 36,413
FNMA 30 YR 436656 6.50% 8/1/28 50,641 49,939
FNMA 30 YR 480043 6.50% 1/1/29 54,153 53,335
FNMA 30 YR 446690 6.50% 10/1/28 33,171 32,711
FNMA 30 YR 453108 6.50% 1/1/29 620,376 610,996
FNMA 30 YR 323865 6.50% 7/1/29 1,716,640 1,734,314
GNMA 293344X 9.50% 11/15/20 11,647 11,407
GNMA 299157X 9.50% 11/15/20 12,778 12,515
GNMA 149980X 10.00% 7/15/16 6,252 6,101
GNMA 153604X 10.00% 3/15/16 41,666 40,661
GNMA 156268X 10.00% 5/15/16 7,934 7,743
GNMA 156464X 10.00% 9/15/16 172,135 167,984
GNMA 158223X 10.00% 4/15/16 41,408 40,409
GNMA 164608X 10.00% 9/15/16 6,736 6,574
GNMA 166276X 10.00% 5/15/16 58,596 57,183
GNMA 174601X 10.00% 8/15/16 55,347 54,012
GNMA 206492X 10.00% 12/15/17 195,175 190,103
GNMA 234666X 10.00% 11/15/17 244,282 237,934
GNMA 255692X 10.00% 4/15/18 4,779 4,663
GNMA 285106X 10.00% 4/15/20 341,772 333,627
GNMA 780081X 10.00% 2/15/25 120,580 117,706
GNMA 415189X 7.00% 3/15/26 450,675 461,507
GNMA 370612X 7.00% 2/15/26 334,360 342,396
GNMA 373507X 7.00% 2/15/26 297,844 305,002
GNMA 516182X 7.00% 7/15/29 438,409 455,530
GNMA 481605X 7.00% 7/15/29 484,781 503,712
GNMA 500941X 7.00% 8/15/29 23,598 24,520
GNMA 507622X 7.00% 6/15/29 422,044 438,526
GNMA 494086X 7.00% 8/15/29 429,442 446,212
GNMA 488329X 7.00% 1/15/29 52,542 54,594
GNMA 507833X 7.00% 4/15/29 387,406 402,535
GNMA 491760X 6.50% 12/15/28 3,557,189 3,681,695
GNMA 781129X 7.00% 11/15/28 3,684,246 3,861,609
GNMA 780531X 8.00% 3/15/12 413,099 413,525
GNMA II 002359M 7.00% 1/20/27 742,986 758,629
GNMA II 002433M 8.00% 5/20/07 336,619 338,472
GNMA 405597X 8.00% 3/15/26 20,151 20,593
GNMA 780006X 8.50% 11/15/24 140,496 139,832
GNMA 780162X 8.50% 6/15/25 194,847 193,633
GNMA 422829X 7.00% 5/15/26 24,757 25,352
GNMA I 344710X 8.50% 2/15/23 14,460 14,435
GNMA I 349384X 7.50% 6/15/23 31,547 32,048
GNMA I 353245X 8.50% 4/15/23 17,199 17,169
GNMA I 354361X 7.50% 4/15/23 55,961 56,849
GNMA I 365444X 7.50% 9/15/25 24,427 24,785
Interest Maturity Current
Rate Date Cost Value
GNMA I 366144X 8.00% 7/15/25 169,034 169,187
GNMA I 372172X 9.00% 11/15/24 4,741 4,695
GNMA I 387064X 8.00% 7/15/25 270,192 270,437
GNMA I 390328X 8.50% 2/15/25 27,720 27,548
GNMA I 390625X 9.00% 6/15/24 10,514 10,413
GNMA I 390628X 9.00% 7/15/24 22,421 22,206
GNMA I 391605X 8.00% 5/15/24 208,281 213,176
GNMA I 393816X 7.50% 7/15/25 10,173 10,321
GNMA I 394224X 8.00% 4/15/25 9,491 9,708
GNMA I 394783X 8.00% 7/15/25 5,374 5,379
GNMA I 400883X 8.00% 7/15/25 532,457 532,938
GNMA I 402013X 9.00% 12/15/24 46,211 45,767
GNMA I 402149X 8.00% 7/15/25 60,013 60,068
GNMA I 407187X 8.00% 4/15/25 239,148 244,620
GNMA I 409485X 8.00% 7/15/25 95,361 95,447
GNMA I 409511X 7.50% 9/15/25 24,753 25,115
GNMA I 409912X 8.00% 7/15/25 250,415 250,641
GNMA I 412044X 8.00% 7/15/25 30,792 30,820
GNMA I 412478X 7.50% 8/15/25 178,020 185,003
GNMA I 413401X 8.00% 7/15/25 56,729 56,781
GNMA I 418828X 7.50% 10/15/25 425,762 431,995
GNMA I 418836X 7.50% 10/15/25 49,319 50,040
GNMA I 419341X 7.50% 12/15/25 111,987 116,380
GNMA I 421167X 7.50% 2/15/26 158,707 166,049
GNMA I 312859X 8.50% 1/15/22 57,798 57,697
GNMA I 318023X 8.50% 5/15/22 157,492 157,217
GNMA I 320837X 8.50% 4/15/22 68,337 68,218
GNMA I 323079X 8.50% 5/15/22 148,070 147,812
GNMA I 339175X 8.50% 1/15/23 19,399 19,365
GNMA I 340414X 8.50% 12/15/22 188,433 188,104
GNMA I 341924X 8.50% 5/15/23 27,219 27,172
GNMA I 342527X 7.50% 2/15/23 15,648 15,897
GNMA I 342841X 8.50% 12/15/22 136,617 136,379
GNMA I 342846X 9.00% 1/15/23 104,372 103,430
GNMA I 780029X 9.00% 11/15/24 205,834 203,856
GNMA I 372358X 7.50% 6/15/26 118,397 123,874
GNMA I 423558X 7.50% 5/15/26 113,659 118,917
GNMA I 423781X 7.50% 5/15/26 99,953 104,577
GNMA I 400102X 7.00% 2/15/26 301,240 320,594
GNMA I 417290X 7.00% 3/15/26 51,439 54,744
GNMA I 421473X 7.00% 6/15/26 229,601 244,353
GNMA I 422305X 7.00% 2/15/26 56,915 60,571
GNMA I 396841X 7.00% 2/15/26 229,725 235,246
GNMA I 437983X 7.50% 11/15/26 182,473 184,577
GNMA I 429541X 7.50% 10/15/26 81,797 82,740
GNMA I 167450X 9.50% 9/15/19 207,938 204,135
GNMA 421448X 7.00% 1/15/26 163,848 167,786
JPMC 2000 C10 A2 7.37% 8/15/32 879,359 923,031
SBM7 2000 C2 A2 7.46% 4/18/10 452,250 476,983
SBM7 2000 C3 A2 6.59% 10/18/10 915,750 932,625
TREASURY INFL INDX 3.38% 1/15/07 251,062 273,440
Interest Maturity Current
Rate Date Cost Value
US TREASURY BONDS 7.63% 2/15/25 5,736,484 5,890,434
US TREASURY 6.50% 2/15/10 3,109,336 3,356,435
US TREASURY NOTES 6.38% 8/15/02 2,001,563 2,081,899
US TREASURY NOTES 6.50% 8/15/05 257,256 270,545
US TREASURY NOTES 5.88% 11/15/04 2,122,854 2,222,450
US TREASURY NOTES 6.00% 9/30/02 503,203 514,045
-------------- -------------
Subtotal government and agency obligations $ 58,116,916 $ 59,665,513
-------------- -------------
Total Commonwealth Life Insurance Company and Transamerica Life
Insurance and Annuity Company SIC Assets (1) $ 88,789,855 $ 90,189,695
-------------- -------------
Grand total SIC Assets $ 181,283,411 $ 183,766,663
-------------- -------------
SIC contract wrapper $ (56,435)
-------------
Total value of SICs at December 31, 2000 $ 183,710,228
-------------
TOTAL ENTERGY STABLE INCOME FUND GICs & SICs $ 199,560,381 $ 201,987,198
-------------- -------------
Loans to participants*
(Bearing interest rates of prime +1% with terms of up to 20 years) 6%-11.5% 1/31/01- N/A $ 31,962,402
6/15/21
-------------- -------------
Total Assets Held for Investment Purposes $1,097,616,955 $1,435,953,379
============== ==============
(1) Commonwealth Life Insurance Company and Transamerica Life Insurance
and Annuity Company jointly issued SIC wrappers over 50% of the Entergy
Lehman Aggregate Managed SIC.
SAVINGS PLAN OF ENTERGY CORPORATION AND SUDSIDIARIES
Schedule of Reportable Transactions
For the Year Ended December 31, 2000
E.I.N. 72-1229752 (Plan No. 003)
Selling or
Number of Purchase Redemption
Description Transactions Price Price Cost Gain/(Loss)
Purchase Transactions:
Entergy Stock Fund* 152 $61,917,897
Stable Income Fund 108 46,835,459
Selling Transactions:
Entergy Stock Fund* 605 $89,734,108 $68,629,183 $21,104,925
Stable Income Fund 147 70,184,018 66,954,339 3,229,679
* Denotes a party-in-interest to the Entergy Savings Plan
SIGNATURE
The Entergy Savings Plan. Pursuant to the requirements of the
Securities and Exchange Act of 1934, the Employee Benefits Committee
has duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
SAVINGS PLAN OF ENTERGY
CORPORATION AND SUBSIDIARIES
By: /s/ Darrell A. Guidroz
Darrell A. Guidroz
Director, Human Resources
Compensation and Benefits
Dated: June 28, 2001
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Registration
Statement on Form S-8 (No. 33-54298) of Entergy Corporation of our
report dated June 25, 2001 relating to the financial statements and
supplemental schedules of the Savings Plan of Entergy Corporation and
Subsidiaries, which appears in this Form 11-K.
/s/ PricewaterhouseCoopers LLP
New Orleans, Louisiana
June 27, 2001