The company said Entergy New Orleans entered into a settlement in principle with the Council of the City of New Orleans on April 18, 2024. It increases customer sharing of income tax benefits from the 2016–2018 IRS audit resolution from $60 million to $138 million.

1. 01

   The company said Entergy New Orleans entered into a settlement in principle with the Council of the City of New Orleans on April 18, 2024. It increases customer sharing of income tax benefits from the 2016–2018 IRS audit resolution from $60 million to $138 million.

2. 02

   Entergy New Orleans said the settlement in principle increases customer sharing of income tax benefits by $78 million. It added that the settlement also includes retail ratemaking treatment of the total customer credit.

3. 03

   The company said Entergy New Orleans’ first quarter 2024 results will include a regulatory charge of $78 million, with the related regulatory liability rising by the same amount. It said that in Q4 2023, Entergy New Orleans recorded a provision of $60 million for customer sharing of income tax benefits, bringing the total amount to be shared to $138 million.

4. 04

   The company said the item will be treated as an adjustment to Entergy’s GAAP net income and will not affect adjusted earnings per share (non-GAAP). Entergy also said in the filing that it affirms its adjusted EPS and credit outlooks.

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Original filing

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