Entergy Louisiana, LLC and Subsidiaries Management’s Financial Discussion and Analysis The retail electric price variance is primarily due to an increase in formula rate plan revenues, implemented with the first billing cycle of March 2016, to collect the estimated first-year revenue requirement related to the purchase of Power Blocks 3 and 4 of the Union Power Station in March 2016 and a provision recorded in 2016 related to the settlement of the Waterford 3 replacement steam generator prudence review proceeding.
See Note 2 to the financial statements for further discussion of the formula rate plan revenues and the Waterford 3 replacement steam generator prudence review proceeding.
The Louisiana Act 55 financing savings obligation variance results from a regulatory charge recorded in 2016 for tax savings to be shared with customers per an agreement approved by the LPSC.
The tax savings resulted from the 2010-2011 IRS audit settlement on the treatment of the Louisiana Act 55 financing of storm costs for Hurricane Gustav and Hurricane Ike.
See Note 3 to the financial statements for additional discussion of the settlement and benefit sharing.
The volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales and decreased usage during the unbilled sales period.
The decrease was partially offset by an increase of 1,237 GWh, or 4%, in industrial usage primarily due to an increase in demand from existing customers and expansion projects in the chemicals industry.2016 Compared to 2015 Net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges.
Following is an analysis of the change in net revenue comparing 2016 to 2015.
## Table 0 ##
The retail electric price variance is primarily due to an increase in formula rate plan revenues, implemented with the first billing cycle of March 2016, to collect the estimated first-year revenue requirement related to the purchase of Power Blocks 3 and 4 of the Union Power Station.
See Note 2 to the financial statements for further discussion.
The volume/weather variance is primarily due to the effect of less favorable weather on residential sales, partially offset by an increase in industrial usage and an increase in volume during the unbilled period.
The increase in industrial usage is primarily due to increased demand from new customers and expansion projects, primarily in the chemicals industry.
The Louisiana Act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the LPSC.
The tax savings resulted from the 2010-2011 IRS audit settlement on the treatment of the Louisiana Act 55 financing of storm costs for Hurricane Gustav and Hurricane Ike.
See Note 3 to the financial statements for additional discussion of the settlement and benefit sharing.
Included in Other is a provision of $23 million recorded in 2016 related to the settlement of the Waterford 3 replacement steam generator prudence review proceeding, offset by a provision of $32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the Waterford 3 replacement steam generator prudence
Leggett & Platt, Incorporated Notes to Consolidated Financial Statements—(Continued) Deferred income taxes and withholding taxes have not been provided on undistributed earnings which management has deemed to be permanently reinvested.
The cumulative undistributed earnings as of December 31, 2007, which the Company has deemed to be permanently reinvested, are approximately $264.1.
If such earnings were distributed, the resulting incremental taxes would be approximately $44.6 based on present income tax laws, which are subject to change.
Deferred tax assets and (liabilities) included in the consolidated balance sheets are as follows:
## Table 1 ##
O—Segment Information Reportable segments are primarily based upon the Company’s management organizational structure.
This structure is generally focused on broad end-user markets for the Company’s diversified products.
Residential Furnishings derives its revenues from components for bedding, furniture and other furnishings, as well as related consumer products.
Commercial Fixturing & Components derives its revenues from retail store fixtures, displays and components for office and institutional furnishings.
Industrial Materials derives its revenues from drawn steel wire, specialty wire products and welded steel tubing sold to trade customers as well as other Leggett segments.
Specialized Products derives its revenues from automotive seating components, specialized machinery and equipment, and van interiors.
The accounting principles used in the preparation of the segment information are the same as used for the consolidated financial statements, except that the segment assets and income reflect the FIFO basis of accounting for inventory.
Certain inventories are accounted for using the LIFO basis in the consolidated financial statements.
The Company evaluates performance based on earnings from operations before interest and income taxes (EBIT).
Intersegment sales are made primarily at prices that approximate market-based selling prices.
Centrally incurred costs are allocated to the segments based on estimates of services used by the segment.
Certain general and administrative costs and miscellaneous corporate income and expense of the Company are allocated to the segments based on sales and EBIT.
Except for assets held for sale, asset information for the segments includes only inventory, trade receivables, net property, plant and equipment and unamortized purchased intangibles.
These segment assets are reflected in the segment information at their estimated average for the year.
Acquired companies’ long-lived assets as disclosed include property, plant and equipment, goodwill and other intangibles, and long-term assets.
Centrally incurred costs, allocated general and administrative costs and miscellaneous corporate income and expense include depreciation and other costs and income related to assets that are not allocated or otherwise included in the segment assets.
A summary of segment results for the years ended December 31, 2007, 2006 and 2005 are shown in the following tables.
Amounts for 2005 and 2006 have been retrospectively adjusted (i) to reflect discontinued operations as discussed in Note B, and (ii) an organizational change, effective June 1, 2007, that moved a few small formed wire operations from Commercial Fixturing & Components to Industrial Materials.
Issuer Repurchases of Equity Securities The table below is a listing of our repurchases of the Company’s common stock during the last quarter of 2007.
## Table 2 ##
* On August 4, 2004, the Board authorized management to repurchase up to 10 million shares each calendar year beginning January 1, 2005.
This standing authorization was first reported in the quarterly report on Form 10-Q for the period ended June 30, 2004, filed August 5, 2004, and shall remain in force until repealed by the Board of Directors.
On November 13, 2007 the Board accelerated the 10 million share standing repurchase authorization for the 2008 calendar year to begin November 15, 2007.
The acceleration was first reported in the Company’s press release issued November 13, 2007 and filed on Form 8-K on November 14, 2007.
As of December 31, 2007 there were no shares left under the 2007 calendar year standing authorization (which expired January 1, 2008) and 8,904,650 shares left under the 2008 calendar year standing authorization.
In addition to this standing authorization, on February 21, 2008, the Board approved the repurchase of an additional 20 million shares during the 2008 calendar year at management’s discretion, limited to the amount of divestiture proceeds.
This special authorization was first publicly announced in the Company’s press release dated February 21, 2008.
Item 6.
Selected Financial Data
## Table 3 ##
* As discussed in Note B on page 66 of the Notes to the Consolidated Financial Statements, the amounts for 2003 through 2006 have been retrospectively adjusted to reflect certain businesses as discontinued operations.
Because this Annual Report on Form 10-K is being filed within four business days from February 21, 2008, the amendments to the Bylaws are being disclosed hereunder rather than under Item 5.03 of Form 8-K.
The Bylaws, as amended, are attached hereto and incorporated by reference as Exhibit 3.2 Amendment to 2004 Key Officers Incentive Plan Award Formula.
On February 21, 2008 the Compensation Committee of the Board amended the Award Formula under the 2004 Key Officers Incentive Plan (“Plan”).
Reference is made to the Plan which was filed March 1, 2006 as Exhibit 10.13 to the Company’s Form 10-K.
The Award Formula was amended to change the definition of “Return” by adjusting earnings before interest and taxes (EBIT) to add back, or exclude, all restructuring related costs and asset impairment charges incurred by the Company in the fourth quarter of 2007, as the formula relates to the 2007 calendar year cash awards.
This Award Formula is applicable to ten executives including David S.  Haffner, President and Chief Executive Officer; Karl G.  Glassman, Executive Vice President and Chief Operating Officer; Matthew C.  Flanigan, Chief Financial Officer; and Paul R.  Hauser, Senior Vice President, President—Residential Furnishings Segment.
Because this Annual Report on Form 10-K is being filed within four business days from February 21, 2008, the amendments to the Award Formula are being disclosed hereunder rather than under Item 5.02(e) of Form 8-K.
The Award Formula is attached hereto and incorporated by reference as Exhibit 10.9.
Assignment and Assumption of Credit Agreement.
On February 22, 2008 the Company consented to the assignment and assumption by certain banking institutions that are parties to the Company’s $600 million multicurrency revolving credit agreement, dated August 5, 2005, as amended (“Credit Agreement”).
Bank of America, N. A.  assigned $10 million of its $75 million lending commitment to Bank of Tokyo-Mitsubishi UFJ, Ltd. , retaining a $65 million commitment.
The Bank of New York assigned its $30 million lending commitment to Comerica Bank.
Bank of Tokyo-Mitsubishi UFJ, Ltd.  and Comerica Bank agreed to assume the respective obligations assigned to them under the Credit Agreement.
Below is a listing of the current participating banks along with their respective commitments under the Credit Agreement.

<table><tr><td></td><td>Amount (In Millions)</td></tr><tr><td>2015 net revenue</td><td>$2,408.8</td></tr><tr><td>Retail electric price</td><td>62.5</td></tr><tr><td>Volume/weather</td><td>-6.7</td></tr><tr><td>Louisiana Act 55 financing savings obligation</td><td>-17.2</td></tr><tr><td>Other</td><td>-9.0</td></tr><tr><td>2016 net revenue</td><td>$2,438.4</td></tr></table>
<table><tr><td></td><td colspan="2">December 31</td></tr><tr><td></td><td>2007</td><td>2006</td></tr><tr><td>Other current assets</td><td>$55.1</td><td>$22.0</td></tr><tr><td>Sundry</td><td>9.4</td><td>11.3</td></tr><tr><td>Other current liabilities</td><td>-1.8</td><td>-3.7</td></tr><tr><td>Deferred income taxes</td><td>-42.3</td><td>-67.1</td></tr><tr><td></td><td>$20.4</td><td>$-37.5</td></tr></table>
<table><tr><td> Period</td><td> Total Number of Shares Purchased </td><td> Average Price Paid  per Share </td><td> Total Number of Shares  Purchased as Part of a  Publicly Announced  Plan or Program* </td><td> Maximum  Number of Shares  that may yetbe  purchased under  the Plans or  Programs* </td></tr><tr><td> October 1-31, 2007</td><td>285</td><td>$19.21</td><td>285</td><td>400,545</td></tr><tr><td> November 1-30, 2007</td><td>436,404</td><td>$20.01</td><td>436,404</td><td>9,964,141</td></tr><tr><td> December 1-31, 2007</td><td>1,059,491</td><td>$17.98</td><td>1,059,491</td><td>8,904,650</td></tr><tr><td> Total</td><td>1,496,180</td><td>$18.57</td><td>1,496,180</td><td></td></tr></table>
<table><tr><td> (Unaudited)</td><td>2007**</td><td> 2006* </td><td> 2005* </td><td> 2004* </td><td> 2003* </td></tr><tr><td> (Dollar amounts in millions, except per share data)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of Operations</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net Sales from Continuing Operations</td><td>$4,306</td><td>$4,333</td><td>$4,258</td><td>$4,122</td><td>$3,532</td></tr><tr><td>Net Earnings from Continuing Operations</td><td>51</td><td>236</td><td>218</td><td>243</td><td>178</td></tr><tr><td>Net Earnings (Loss) from Discontinued Operations</td><td>-62</td><td>65</td><td>33</td><td>42</td><td>28</td></tr><tr><td>Net Earnings (Loss)</td><td>-11</td><td>300</td><td>251</td><td>285</td><td>206</td></tr><tr><td>Earnings per share from Continuing Operations</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>.28</td><td>1.26</td><td>1.13</td><td>1.24</td><td>.91</td></tr><tr><td>Diluted</td><td>.28</td><td>1.26</td><td>1.13</td><td>1.23</td><td>.91</td></tr><tr><td>Earnings (Loss) per share from Discontinued Operations</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>-.34</td><td>.35</td><td>.17</td><td>.22</td><td>.14</td></tr><tr><td>Diluted</td><td>-.34</td><td>.35</td><td>.17</td><td>.22</td><td>.14</td></tr><tr><td>Net Earnings (Loss) per share</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>-.06</td><td>1.61</td><td>1.30</td><td>1.46</td><td>1.05</td></tr><tr><td>Diluted</td><td>-.06</td><td>1.61</td><td>1.30</td><td>1.45</td><td>1.05</td></tr><tr><td>Cash Dividends declared per share</td><td>.78</td><td>.67</td><td>.63</td><td>.58</td><td>.54</td></tr><tr><td>Summary of Financial Position</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total Assets</td><td>$4,072.5</td><td>$4,265.3</td><td>$4,072.4</td><td>$4,197.2</td><td>$3,889.7</td></tr><tr><td>Long-term Debt</td><td>1,000.6</td><td>1,060.0</td><td>921.6</td><td>779.4</td><td>1,012.2</td></tr></table>

Question: what was the percentage increase in net revenue in 2016