Entergy Corp. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Entergy Corporation and its subsidiaries on September 15, 2008. The filing addresses the status of the company's credit facilities and reports on the preliminary impact of Hurricane Gustav and Hurricane Ike on its utility operations.
Key Financial Metrics: Liquidity and Debt
The filing provides specific data regarding Entergy's $3.5 billion, 5-year bank credit facility as of September 15, 2008. No revenue, profit, or cash flow figures are included in this specific report.
| Metric | Amount (in Millions) |
|---|---|
| Total Facility Capacity | $3,500 |
| Outstanding Borrowings | $3,198 |
| Letters of Credit | $72 |
| Available Capacity | $230 |
Material Changes and Events
- Credit Facility Utilization: As of the report date, the company has utilized approximately 91% of its total borrowing capacity ($3,198 million in borrowings plus $72 million in letters of credit against a $3,500 million limit), leaving only $230 million available.
- Natural Disaster Impact: The company announced a preliminary assessment of the effects of Hurricane Gustav and an initial assessment of Hurricane Ike on Entergy and its utility operating companies. Detailed financial impacts were not quantified in this filing but were referenced in a press release dated September 19, 2008.
Guidance, Outlook, and Risks
The filing does not contain forward-looking financial guidance, earnings outlook, or management commentary regarding future performance. The primary risk highlighted is the operational and financial impact of Hurricanes Gustav and Ike. Investors are directed to Appendix B of the September 19, 2008 press release (Exhibit 99.1) for further details on liquidity sources and the hurricane assessment.
Key Facts for Investor Verification
- Verify the detailed financial impact of Hurricanes Gustav and Ike in the press release filed as Exhibit 99.1.
- Confirm the company's ability to access the remaining $230 million in credit facility capacity given the high utilization rate.
- Review the referenced Form 10-Q for the quarter ended June 30, 2008, for historical context on the credit facility usage.