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2020 Financial
Highlights

Entergy’s total shareholder return for 2020 was (13.7)%, which ranked 17th out of the 20 companies in our peer group. We believe our strategy to build the premier utility — with a focus on innovative customer solutions and a steady, predictable earnings trajectory — positions us well to deliver top-quartile returns for our owners in the future.

2020 Total
Shareholder Return

Bar chart comparing the 2020 total shareholder return for the Entergy Corporation, the Philadelphia Utility Index, and the S&P 500

Source: Bloomberg


Comparison of Five-Year Cumulative Return

The following graph compares the performance of the common stock of Entergy Corporation with the Philadelphia Utility Index and the S&P 500 Index (each of which includes Entergy Corporation) for the last five years ended December 31.

2015 2016 2017 2018 2019 2020
ETR 2015: $100.00 2016: $112.52 2017: $130.40 2018: $144.22 2019: $208.16 2020: $179.62
UTY 2015: $100.00 2016: $117.40 2017: $132.45 2018: $137.11 2019: $173.87 2020: $178.61
S&P 500 Index 2015: $100.00 2016: $111.95 2017: $136.38 2018: $130.39 2019: $171.44 2020: $202.96

Assumes $100 invested at the closing price on December 31, 2015, in Entergy Corporation common stock, the Philadelphia Utility Index, and the S&P 500 Index, and reinvestment of all dividends.

Source: Bloomberg

Credit Ratings as of March 26, 2021

Entity Standard & Poor’s Moody’s
Rating Outlook Rating Outlook
Entity: Entergy Arkansas 1 Standard & Poor's Rating: A Standard & Poor's Outlook: Stable Moody's Rating: A2 Moody's Outlook: Stable
Entity: Entergy Louisiana 1 Standard & Poor's Rating: A Standard & Poor's Outlook: Stable Moody's Rating: A2 Moody's Outlook: Stable
Entity: Entergy Mississippi 1 Standard & Poor's Rating: A Standard & Poor's Outlook: Stable Moody's Rating: A2 Moody's Outlook: Stable
Entity: Entergy New Orleans 1 Standard & Poor's Rating: A Standard & Poor's Outlook: Stable Moody's Rating: Baa2 Moody's Outlook: Stable
Entity: Entergy Texas 1 Standard & Poor's Rating: A Standard & Poor's Outlook: Stable Moody's Rating: Baa1 Moody's Outlook: Positive
Entity: System Energy Resources 1 Standard & Poor's Rating: A Standard & Poor's Outlook: Stable Moody's Rating: Baa1 Moody's Outlook: Positive
Entity: Entergy Corporation 2 Standard & Poor's Rating: BBB+ Standard & Poor's Outlook: Stable Moody's Rating: Baa2 Moody's Outlook: Stable
  • 1 Senior secured ratings
  • 2 Corporate credit rating
2020
2019
2018
2017
2016
Selected Financial Data — In Thousands, Except Percentages and Per Share Amounts
Operating revenues
2020: $10,113,636
2019: $10,878,673
2018: $11,009,452
2017: $11,074,481
2016: $10,845,645
Net income (loss)
2020: $1,406,653
2019: $1,258,244
2018: $862,555
2017: $425,353
2016: $(564,503)
Earnings (loss) per share:
Basic
2020: $6.94
2019: $6.36
2018: $4.68
2017: $2.29
2016: $(3.26)
Diluted
2020: $6.90
2019: $6.30
2018: $4.63
2017: $2.28
2016: $(3.26)
Dividends declared per share
2020: $3.74
2019: $3.66
2018: $3.58
2017: $3.50
2016: $3.42
Return on common equity
2020: 13.13%
2019: 13.02%
2018: 10.08%
2017: 5.12%
2016: (6.73)%
Book value per share, year-end
2020: $54.56
2019: $51.34
2018: $46.78
2017: $44.28
2016: $45.12
Total assets
2020: $58,239,212
2019: $51,723,912
2018: $48,275,066
2017: $46,707,149
2016: $45,904,434
Long-term obligations(a)
2020: $21,477,974
2019: $17,351,449
2018: $15,758,083
2017: $14,535,077
2016: $14,695,422
Utility Electric Operating Revenues — In Millions
Residential
2020: $3,550
2019: $3,532
2018: $3,566
2017: $3,355
2016: $3,288
Commercial
2020: 2,293
2019: 2,476
2018: 2,426
2017: 2,480
2016: 2,362
Industrial
2020: 2,331
2019: 2,541
2018: 2,499
2017: 2,584
2016: 2,327
Governmental
2020: 212
2019: 228
2018: 226
2017: 231
2016: 217
Total billed retail
2020: 8,386
2019: 8,777
2018: 8,717
2017: 8,650
2016: 8,194
Sales for resale
2020: 296
2019: 286
2018: 300
2017: 253
2016: 236
Other
2020: 365
2019: 367
2018: 367
2017: 376
2016: 437
Total
2020: $9,047
2019: $9,430
2018: $9,384
2017: $9,279
2016: $8,867
Utility Billed Electric Energy Sales — In GWh
Residential
2020: 35,173
2019: 36,094
2018: 37,107
2017: 33,834
2016: 35,112
Commercial
2020: 26,466
2019: 28,755
2018: 29,426
2017: 28,745
2016: 29,197
Industrial
2020: 47,117
2019: 48,483
2018: 48,384
2017: 47,769
2016: 45,739
Governmental
2020: 2,414
2019: 2,579
2018: 2,581
2017: 2,511
2016: 2,547
Total retail
2020: 111,170
2019: 115,911
2018: 117,498
2017: 112,859
2016: 112,595
Sales for resale
2020: 13,658
2019: 13,210
2018: 11,715
2017: 11,550
2016: 11,054
Total
2020: 124,828
2019: 129,121
2018: 129,213
2017: 124,409
2016: 123,649
Entergy Wholesale Commodities
Operating revenues (In Millions)
2020: $943
2019: $1,295
2018: $1,469
2017: $1,657
2016: $1,850
Billed electric energy sales (GWh)
2020: 20,581
2019: 28,088
2018: 29,875
2017: 30,501
2016: 35,881

(a) Includes long-term debt (excluding currently maturing debt), non-current finance lease obligations, and subsidiary preferred stock without sinking fund that is not presented as equity on the balance sheet.

For the Years Ended December 31,
(in thousands, except share data)
2020
2019
2018
Operating Revenues
Electric
2020: $9,046,643
2019: $9,429,978
2018: $9,384,111
Natural gas
2020: 124,008
2019: 153,954
2018: 156,436
Competitive businesses
2020: 942,985
2019: 1,294,741
2018: 1,468,905
Total
2020: 10,113,636
2019: 10,878,673
2018: 11,009,452
Operating Expenses
Operation and Maintenance:
Fuel, fuel-related expenses, and gas purchased for resale
2020: 1,564,371
2019: 2,029,638
2018: 2,147,793
Purchased power
2020: 904,268
2019: 1,192,860
2018: 1,658,799
Nuclear refueling outage expenses
2020: 184,157
2019: 204,927
2018: 153,826
Other operation and maintenance
2020: 3,002,626
2019: 3,272,381
2018: 3,346,397
Asset write-offs, impairments, and related charges
2020: 26,623
2019: 290,027
2018: 532,321
Decommissioning
2020: 381,861
2019: 400,802
2018: 388,508
Taxes other than income taxes
2020: 652,840
2019: 643,745
2018: 641,952
Depreciation and amortization
2020: 1,613,086
2019: 1,480,016
2018: 1,369,442
Other regulatory charges (credits) — net
2020: 14,609
2019: (26,220)
2018: 301,049
Total
2020: 8,344,441
2019: 9,488,176
2018: 10,540,087
Operating Income
2020: 1,769,195
2019: 1,390,497
2018: 469,365
Other Income
Allowance for equity funds used during construction
2020: 119,430
2019: 144,974
2018: 129,602
Interest and investment income
2020: 392,818
2019: 547,912
2018: 63,864
Miscellaneous — net
2020: (210,633)
2019: (252,539)
2018: (129,754)
Total
2020: 301,615
2019: 440,347
2018: 63,712
Interest Expense
Interest expense
2020: 837,981
2019: 807,382
2018: 768,322
Allowance for borrowed funds used during construction
2020: (52,318)
2019: (64,957)
2018: (60,974)
Total
2020: 785,663
2019: 742,425
2018: 707,348
Income (Loss) Before Income Taxes
2020: 1,285,147
2019: 1,088,419
2018: (174,271)
Income taxes
2020: (121,506)
2019: (169,825)
2018: (1,036,826)
Consolidated Net Income
2020: 1,406,653
2019: 1,258,244
2018: 862,555
Preferred dividend requirements of subsidiaries
2020: 18,319
2019: 17,018
2018: 13,894
Net Income Attributable to Entergy Corporation
2020: $1,388,334
2019: $1,241,226
2018: $848,661
Earnings per average common share:
Basic
2020: $6.94
2019: $6.36
2018: $4.68
Diluted
2020: $6.90
2019: $6.30
2018: $4.63
Basic average number of common shares outstanding
2020: 200,106,945
2019: 195,195,858
2018: 181,409,597
Diluted average number of common shares outstanding
2020: 201,102,220
2019: 196,999,284
2018: 183,378,513
For the Years Ended December 31,
(in thousands)
2020
2019
2018
Net Income
2020: $1,406,653
2019: $1,258,244
2018: $862,555
Other comprehensive income (loss)
Cash flow hedges net unrealized gain (loss)
(net of tax expense (benefit) of ($14,776), $28,516, and $5,830)
2020:
(55,487)
2019:
115,026
2018:
22,098
Pension and other postretirement liabilities
(net of tax expense (benefit) of $5,600, ($6,539), and $30,299)
2020:
22,496
2019:
(25,150)
2018:
90,143
Net unrealized investment gains (losses)
(net of tax expense of $17,586, $14,023, and $6,393)
2020:
30,704
2019:
27,183
2018:
(28,771)
Other comprehensive income (loss)
2020: (2,287)
2019: 117,059
2018: 83,470
Comprehensive Income
2020: 1,404,366
2019: 1,375,303
2018: 946,025
Preferred dividend requirements of subsidiaries
2020: 18,319
2019: 17,018
2018: 13,894
Comprehensive Income Attributable to Entergy Corporation
2020: $1,386,047
2019: $1,358,285
2018: $932,131
For the Years Ended December 31,
(in thousands)
2020
2019
2018
Operating Activities
Consolidated net income
2020: $1,406,653
2019: $1,258,244
2018: $862,555
Adjustments to reconcile consolidated net income
to net cash flow provided by operating activities:
Depreciation, amortization, and decommissioning,
including nuclear fuel amortization
2020:
2,257,750
2019:
2,182,313
2018:
2,040,555
Deferred income taxes, investment tax credits,
and non-current taxes accrued
2020:
(131,114)
2019:
193,950
2018:
(256,848)
Asset write-offs, impairments, and related charges
2020: 26,379
2019: 226,678
2018: 491,739
Changes in working capital:
Receivables
2020: (139,296)
2019: (101,227)
2018: 98,546
Fuel inventory
2020: (27,458)
2019: (28,173)
2018: 45,839
Accounts payable
2020: 137,457
2019: (71,898)
2018: 97,312
Taxes accrued
2020: 207,556
2019: (20,784)
2018: 39,272
Interest accrued
2020: 7,662
2019: 937
2018: 5,220
Deferred fuel costs
2020: (49,484)
2019: 172,146
2018: (25,829)
Other working capital accounts
2020: (143,451)
2019: (3,108)
2018: (164,173)
Changes in provisions for estimated losses
2020: (291,193)
2019: 19,914
2018: 35,706
Changes in other regulatory assets
2020: (784,494)
2019: (545,559)
2018: 189,193
Changes in other regulatory liabilities
2020: 238,669
2019: (14,781)
2018: (803,323)
Changes in pensions and other postretirement liabilities
2020: 50,379
2019: 187,124
2018: (304,941)
Other
2020: (76,149)
2019: (639,149)
2018: 34,424
Net cash flow provided by operating activities
2020: 2,689,866
2019: 2,816,627
2018: 2,385,247
Investing Activities
Construction/capital expenditures
2020: (4,694,076)
2019: (4,197,667)
2018: (3,942,010)
Allowance for equity funds used during construction
2020: 119,430
2019: 144,862
2018: 130,195
Nuclear fuel purchases
2020: (215,664)
2019: (128,366)
2018: (302,584)
Payment for purchase of plant or assets
2020: (247,121)
2019: (305,472)
2018: (26,623)
Proceeds from sale of assets
2020:
2019: 28,932
2018: 24,902
Insurance proceeds received for property damages
2020:
2019: 7,040
2018: 18,270
Changes in securitization account
2020: 5,099
2019: 3,298
2018: (5,844)
Payments to storm reserve escrow account
2020: (2,273)
2019: (8,038)
2018: (6,551)
Receipts from storm reserve escrow account
2020: 297,588
2019:
2018:
Decrease (increase) in other investments
2020: (12,755)
2019: 30,319
2018: (54,500)
Litigation proceeds for reimbursement of spent nuclear fuel storage costs
2020: 72,711
2019: 2,369
2018: 59,643
Proceeds from nuclear decommissioning trust fund sales
2020: 3,107,812
2019: 4,121,351
2018: 6,484,791
Investment in nuclear decommissioning trust funds
2020: (3,203,057)
2019: (4,208,870)
2018: (6,485,676)
Net cash flow used in investing activities
2020: (4,772,306)
2019: (4,510,242)
2018: (4,105,987)
Financing Activities
Proceeds from the issuance of:
Long-term debt
2020: 12,619,201
2019: 9,304,396
2018: 8,035,536
Preferred stock of subsidiary
2020:
2019: 33,188
2018: 73,330
Treasury stock
2020: 42,600
2019: 93,862
2018: 103,315
Common stock
2020:
2019: 607,650
2018: 499,272
Retirement of long-term debt
2020: (8,152,378)
2019: (7,619,380)
2018: (6,965,738)
Repurchase / redemptions of preferred stock
2020:
2019: (50,000)
2018: (53,868)
Changes in credit borrowings and commercial paper — net
2020: (319,238)
2019: 4,389
2018: 364,031
Other
2020: (7,524)
2019: (7,732)
2018: 26,453
Dividends paid:
Common stock
2020: (748,342)
2019: (711,573)
2018: (647,704)
Preferred stock
2020: (18,502)
2019: (16,438)
2018: (14,185)
Net cash flow provided by financing activities
2020: 3,415,817
2019: 1,638,362
2018: 1,420,442
Net increase (decrease) in cash and cash equivalents
2020: 1,333,377
2019: (55,253)
2018: (300,298)
Cash and cash equivalents at beginning of period
2020: 425,722
2019: 480,975
2018: 781,273
Cash and cash equivalents at end of period
2020: $1,759,099
2019: $425,722
2018: $480,975
Supplemental Disclosure of Cash Flow Information:
Cash paid (received) during the period for:
Interest — net of amount capitalized
2020: $803,923
2019: $778,209
2018: $734,845
Income taxes
2020: $(31,228)
2019: $(40,435)
2018: $19,825
For the Years Ended December 31,
(in thousands)
2020
2019
Current Assets
Cash and cash equivalents:
Cash
2020: $128,851
2019: $34,242
Temporary cash investments
2020: 1,630,248
2019: 391,480
Total cash and cash equivalents
2020: 1,759,099
2019: 425,722
Accounts receivable:
Customer
2020: 833,478
2019: 595,509
Allowance for doubtful accounts
2020: (117,794)
2019: (7,404)
Other
2020: 135,208
2019: 219,870
Accrued unbilled revenues
2020: 434,835
2019: 400,617
Total accounts receivable
2020: 1,285,727
2019: 1,208,592
Deferred fuel costs
2020: 4,380
2019:
Fuel inventory — at average cost
2020: 172,934
2019: 145,476
Materials and supplies — at average cost
2020: 962,185
2019: 824,989
Deferred nuclear refueling outage costs
2020: 179,150
2019: 157,568
Prepayments and other
2020: 196,424
2019: 283,645
Total
2020: 4,559,899
2019: 3,045,992
Other Property and Investments
Decommissioning trust funds
2020: 7,253,215
2019: 6,404,030
Non-utility property — at cost (less accumulated depreciation)
2020: 343,328
2019: 332,864
Other
2020: 214,222
2019: 496,452
Total
2020: 7,810,765
2019: 7,233,346
Property, Plant, and Equipment
Electric
2020: 59,696,443
2019: 54,271,467
Natural gas
2020: 610,768
2019: 547,110
Construction work in progress
2020: 2,012,030
2019: 2,823,291
Nuclear fuel
2020: 601,281
2019: 677,181
Total property, plant, and equipment
2020: 62,920,522
2019: 58,319,049
Less — accumulated depreciation and amortization
2020: 24,067,745
2019: 23,136,356
Property, plant, and equipment — net
2020: 38,852,777
2019: 35,182,693
Deferred Debits and Other Assets
Regulatory assets:
Other regulatory assets (includes securitization property of $119,238 as of December 31, 2020 and $239,219 as of December 31, 2019)
2020:
6,076,549
2019:
5,292,055
Deferred fuel costs
2020: 240,422
2019: 239,892
Goodwill
2020: 377,172
2019: 377,172
Accumulated deferred income taxes
2020: 76,289
2019: 64,461
Other
2020: 245,339
2019: 288,301
Total
2020: 7,015,771
2019: 6,261,881
Total Assets
2020: $58,239,212
2019: $51,723,912
For the Years Ended December 31,
(in thousands)
2020
2019
Current Liabilities
Currently maturing long-term debt
2020: $1,164,015
2019: $795,012
Notes payable and commercial paper
2020: 1,627,489
2019: 1,946,727
Accounts payable
2020: 2,739,437
2019: 1,499,861
Customer deposits
2020: 401,512
2019: 409,171
Taxes accrued
2020: 441,011
2019: 233,455
Interest accrued
2020: 201,791
2019: 194,129
Deferred fuel costs
2020: 153,113
2019: 197,687
Pension and other postretirement liabilities
2020: 61,815
2019: 66,184
Current portion of unprotected excess accumulated deferred income taxes
2020: 63,683
2019: 76,457
Other
2020: 206,640
2019: 201,780
Total
2020: 7,060,506
2019: 5,620,463
Non-Current Liabilities
Accumulated deferred income taxes and taxes accrued
2020: 4,361,772
2019: 4,401,190
Accumulated deferred investment tax credits
2020: 212,494
2019: 207,113
Regulatory liability for income taxes-net
2020: 1,521,757
2019: 1,633,159
Other regulatory liabilities
2020: 2,323,851
2019: 1,961,005
Decommissioning and asset retirement cost liabilities
2020: 6,469,452
2019: 6,159,212
Accumulated provisions
2020: 242,835
2019: 534,028
Pension and other postretirement liabilities
2020: 2,853,013
2019: 2,798,265
Long-term debt (includes securitization bonds of $174,635 as of
December 31, 2020 and $297,981 as of December 31, 2019)
2020:
21,205,761
2019:
17,078,643
Other
2020: 807,219
2019: 852,749
Total
2020: 39,998,154
2019: 35,625,364
Commitments and Contingencies
Subsidiaries’ preferred stock without sinking fund
2020: 219,410
2019: 219,410
Equity
Common stock, $.01 par value, authorized 500,000,000 shares;
issued 270,035,180 shares in 2020 and in 2019
2020:
2,700
2019:
2,700
Paid-in capital
2020: 6,549,923
2019: 6,564,436
Retained earnings
2020: 9,897,182
2019: 9,257,609
Accumulated other comprehensive loss
2020: (449,207)
2019: (446,920)
Less — treasury stock, at cost (69,790,346 shares in 2020 and 70,886,400 shares in 2019)
2020: 5,074,456
2019: 5,154,150
Total common shareholders’ equity
2020: 10,926,142
2019: 10,223,675
Subsidiaries’ preferred stock without sinking fund
2020: 35,000
2019: 35,000
Total
2020: $10,961,142
2019: $10,258,675
Total Liabilities and Shareholders’ Equity
2020: $58,239,212
2019: $51,723,912
Common Shareholders’ Equity

For the Years Ended December 31,
2020, 2019, and 2018

Subsidiaries’
Preferred Stock

Common
Stock

Treasury
Stock

Paid-in
Capital

Retained
Earnings
Accumulated
Other Comprehensive
Income (Loss)


Total
Balance at December 31, 2017
Subsidiaries’ Preferred Stock: $
Common Stock: $2,548
Treasury Stock: $(5,397,637)
Paid-in Capital: $5,433,433
Retained Earnings: $7,977,702
Accumulated Other Comprehensive Income (Loss): $(23,531)
Total: $7,992,515
Implementation of accounting standards
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: 576,257
Accumulated Other Comprehensive Income (Loss): (632,617)
Total: (56,360)
Balance at January 1, 2018
Subsidiaries’ Preferred Stock:
Common Stock: 2,548
Treasury Stock: (5,397,637)
Paid-in Capital: 5,433,433
Retained Earnings: 8,553,959
Accumulated Other Comprehensive Income (Loss): (656,148)
Total: 7,936,155
Consolidated net income (a)
Subsidiaries’ Preferred Stock: 13,894
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: 848,661
Accumulated Other Comprehensive Income (Loss):
Total: 862,555
Other comprehensive income
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings:
Accumulated Other Comprehensive Income (Loss): 83,470
Total: 83,470
Settlement of equity forwards through
common stock issuance
Subsidiaries’ Preferred Stock:
Common Stock:
68
Treasury Stock:
Paid-in Capital:
499,932
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total:
500,000
Common stock issuance costs
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital: (728)
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total: (728)
Common stock issuances related to
stock plans
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
123,918
Paid-in Capital:
18,794
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total:
142,712
Common stock dividends declared
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: (647,704)
Accumulated Other Comprehensive Income (Loss):
Total: (647,704)
Subsidiaries’ capital stock redemptions
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: (1,723)
Accumulated Other Comprehensive Income (Loss):
Total: (1,723)
Preferred dividend requirements
of subsidiaries (a)
Subsidiaries’ Preferred Stock:
(13,894)
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total:
(13,894)
Reclassification pursuant to ASU 2018-02
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: (32,043)
Accumulated Other Comprehensive Income (Loss): 15,505
Total: (16,538)
Balance at December 31, 2018
Subsidiaries’ Preferred Stock:
Common Stock: 2,616
Treasury Stock: (5,273,719)
Paid-in Capital: 5,951,431
Retained Earnings: 8,721,150
Accumulated Other Comprehensive Income (Loss): (557,173)
Total: 8,844,305
Implementation of accounting standards
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: 6,806
Accumulated Other Comprehensive Income (Loss): (6,806)
Total:
Balance at January 1, 2019
Subsidiaries’ Preferred Stock:
Common Stock: 2,616
Treasury Stock: (5,273,719)
Paid-in Capital: 5,951,431
Retained Earnings: 8,727,956
Accumulated Other Comprehensive Income (Loss): (563,979)
Total: 8,844,305
Consolidated net income (a)
Subsidiaries’ Preferred Stock: 17,018
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: 1,241,226
Accumulated Other Comprehensive Income (Loss):
Total: 1,258,244
Other comprehensive income
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings:
Accumulated Other Comprehensive Income (Loss): 117,059
Total: 117,059
Settlement of equity forwards through
common stock issuance
Subsidiaries’ Preferred Stock:
Common Stock:
84
Treasury Stock:
Paid-in Capital:
607,566
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total:
607,650
Common stock issuance costs
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital: (7)
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total: (7)
Common stock issuances related to
stock plans
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
119,569
Paid-in Capital:
5,446
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total:
125,015
Common stock dividends declared
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: (711,573)
Accumulated Other Comprehensive Income (Loss):
Total: (711,573)
Subsidiary’s preferred stock issuance
Subsidiaries’ Preferred Stock: 35,000
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total: 35,000
Preferred dividend requirements
of subsidiaries(a)
Subsidiaries’ Preferred Stock:
(17,018)
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total:
(17,018)
Balance at December 31, 2019
Subsidiaries’ Preferred Stock: 35,000
Common Stock: 2,700
Treasury Stock: (5,154,150)
Paid-in Capital: 6,564,436
Retained Earnings: 9,257,609
Accumulated Other Comprehensive Income (Loss): (446,920)
Total: 10,258,675
Implementation of accounting standards
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: (419)
Accumulated Other Comprehensive Income (Loss):
Total: (419)
Balance at January 1, 2020
Subsidiaries’ Preferred Stock: 35,000
Common Stock: 2,700
Treasury Stock: (5,154,150)
Paid-in Capital: 6,564,436
Retained Earnings: 9,257,190
Accumulated Other Comprehensive Income (Loss): (446,920)
Total: 10,258,256
Consolidated net income(a)
Subsidiaries’ Preferred Stock: 18,319
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: 1,388,334
Accumulated Other Comprehensive Income (Loss):
Total: 1,406,653
Other comprehensive loss
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings:
Accumulated Other Comprehensive Income (Loss): (2,287)
Total: (2,287)
Common stock issuances related to
stock plans
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
79,694
Paid-in Capital:
(14,513)
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total:
65,181
Common stock dividends declared
Subsidiaries’ Preferred Stock:
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings: (748,342)
Accumulated Other Comprehensive Income (Loss):
Total: (748,342)
Preferred dividend requirements
of subsidiaries (a)
Subsidiaries’ Preferred Stock:
(18,319)
Common Stock:
Treasury Stock:
Paid-in Capital:
Retained Earnings:
Accumulated Other Comprehensive Income (Loss):
Total:
(18,319)
Balance at December 31, 2020
Subsidiaries’ Preferred Stock: $35,000
Common Stock: $2,700
Treasury Stock: $(5,074,456)
Paid-in Capital: $6,549,923
Retained Earnings: $9,897,182
Accumulated Other Comprehensive Income (Loss): $(449,207)
Total: $10,961,142

(a) Consolidated net income and preferred dividend requirements of subsidiaries include $16.5 million for 2020, $16.5 million for 2019, and $13.9 million for 2018 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity.

2020 Total Shareholder Return