Entergy Corporation and Subsidiaries Notes to Financial Statements 68 Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line.
Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries.
AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in rates.
Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return.
Each tax paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy's intercompany income tax allocation agreement.
Deferred income taxes are recorded for all temporary differences between the book and tax basis of assets and liabilities, and for certain credits available for carryforward.
Entergy Louisiana, formed December 31, 2005, was not a member of the consolidated group in 2006 and 2007 and filed a separate federal income tax return.
Beginning January 1, 2008, Entergy Louisiana joined the Entergy consolidated federal income tax return.
Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized.
Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted.
Investment tax credits are deferred and amortized based upon the average useful life of the related property, in accordance with ratemaking treatment.
Earnings per Share The following table presents Entergy's basic and diluted earnings per share calculation included on the consolidated statements of income:
## Table 0 ##
The calculation of diluted earnings per share excluded 4,368,614 options outstanding at December 31, 2009 that could potentially dilute basic earnings per share in the future.
Those options were not included in the calculation
Entergy Corporation and Subsidiaries Notes to Financial Statements 136 rate of 2.04%.
Although the principal amount is not due until the date given in the tables above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.7 million for 2017, $22.3 million for 2018, $22.7 million for 2019, $23.2 million for 2020, and $11 million for 2021.
With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds.
In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs.
The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet.
The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana.
Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections.
Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization.
In July 2015, Entergy New Orleans Storm Recovery Funding I, L. L. C. , a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds.
The bonds have a coupon of 2.67%.
Although the principal amount is not due until the date given in the tables above, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $10.6 million for 2017, $11 million for 2018, $11.2 million for 2019, $11.6 million for 2020, and $11.9 million for 2021.
With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds.
The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet.
The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans.
Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections.
Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits.
In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows:
## Table 1 ##
Entergy Corporation and Subsidiaries Notes to Financial Statements 190 Entergy also sponsors the Savings Plan of Entergy Corporation and Subsidiaries IV (established in March 2002), the Savings Plan of Entergy Corporation and Subsidiaries VI (established in April 2007), and the Savings Plan of Entergy Corporation and Subsidiaries VII (established in April 2007) to which matching contributions are also made.
The plans are defined contribution plans that cover eligible employees, as defined by each plan, of Entergy and certain of its subsidiaries.
Entergy’s subsidiaries’contributions to defined contribution plans collectively were $47 million in 2016, $44.4 million in 2015, and $43.3 million in 2014.
The majority of the contributions were to the System Savings Plan.
The Registrant Subsidiaries’ 2016, 2015, and 2014 contributions to defined contribution plans for their employees were as follows:
## Table 2 ##
NOTE 12.
STOCK-BASED COMPENSATION (Entergy Corporation) Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans which are shareholder-approved stock-based compensation plans.
The Equity Ownership Plan, as restated in February 2003, expired December 31, 2016.
Effective January 1, 2007, Entergy’s shareholders approved the 2007 Equity Ownership and Long-Term Cash Incentive Plan (2007 Plan).
The maximum aggregate number of common shares that were available for issuance from the 2007 Plan for stock-based awards was 7,000,000 with no more than 2,000,000 available for non-option grants.
The 2007 Plan, which only applied to awards granted between January 1, 2007 and May 5, 2011, will expire after 10 years.
Effective May 6, 2011, Entergy’s shareholders approved the 2011 Equity Ownership and Long-Term Cash Incentive Plan (2011 Plan).
The maximum number of common shares that were available for issuance from the 2011 Plan for stock-based awards was 5,500,000 with no more than 2,000,000 available for incentive stock option grants.
The 2011 Plan, which only applied to awards granted between May 6, 2011 and May 7, 2015, will expire after 10 years.
Effective May 8, 2015, Entergy’s shareholders approved the 2015 Equity Ownership and Long-Term Cash Incentive Plan (2015 Plan).
The maximum number of common shares that can be issued from the 2015 Plan for stock-based awards is 6,900,000 with no more than 1,500,000 available for incentive stock option grants.
The 2015 Plan, which only applies to awards granted on or after May 6, 2011, will expire after 10 years.
As of December 31, 2016, there were 5,192,463 authorized shares remaining for stock-based awards, including 1,500,000 for incentive stock option grants.
Stock Options Stock options are granted at exercise prices that equal the closing market price of Entergy Corporation common stock on the date of grant.
Generally, stock options granted will become exercisable in equal amounts on each of the first three anniversaries of the date of grant.
Unless they are forfeited previously under the terms of the grant, options expire 10 years after the date of the grant if they are not exercised.
Entergy Corporation and Subsidiaries Management’s Financial Discussion and Analysis 26 Capital Expenditure Plans and Other Uses of Capital Following are the amounts of Entergy’s planned construction and other capital investments by operating segment for 2017 through 2019.

<table><tr><td></td><td colspan="9">For the Years Ended December 31,</td></tr><tr><td></td><td colspan="3">2009</td><td colspan="3">2008</td><td colspan="3">2007</td></tr><tr><td></td><td></td><td colspan="8">(In Millions, Except Per Share Data)</td></tr><tr><td>Basic earnings per average common share</td><td>Income</td><td>Shares</td><td>$/share</td><td>Income</td><td>Shares</td><td>$/share</td><td>Income</td><td>Shares</td><td>$/share</td></tr><tr><td>Net income attributable toEntergy Corporation</td><td>$1,231.1</td><td>192.8</td><td>$6.39</td><td>$1,220.6</td><td>190.9</td><td>$6.39</td><td>$1,134.8</td><td>196.6</td><td>$5.77</td></tr><tr><td>Average dilutive effect of:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Stock options</td><td>-</td><td>2.2</td><td>-0.07</td><td>-</td><td>4.1</td><td>-0.13</td><td>-</td><td>5.0</td><td>-0.14</td></tr><tr><td>Equity units</td><td>3.2</td><td>0.8</td><td>-0.02</td><td>24.7</td><td>6.0</td><td>-0.06</td><td>-</td><td>1.1</td><td>-0.03</td></tr><tr><td>Deferred units</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>0.1</td><td>-</td></tr><tr><td>Diluted earnings per averagecommon share</td><td>$1,234.3</td><td>195.8</td><td>$6.30</td><td>$1,245.3</td><td>201.0</td><td>$6.20</td><td>$1,134.8</td><td>202.8</td><td>$5.60</td></tr></table>
<table><tr><td></td><td>Amount (In Thousands)</td></tr><tr><td>Senior Secured Transition Bonds, Series A:</td><td></td></tr><tr><td>Tranche A-1 -5.51% due October 2013</td><td>$93,500</td></tr><tr><td>Tranche A-2 -5.79% due October 2018</td><td>121,600</td></tr><tr><td>Tranche A-3 -5.93% due June 2022</td><td>114,400</td></tr><tr><td>Total senior secured transition bonds</td><td>$329,500</td></tr></table>
<table><tr><td>Year</td><td>Entergy Arkansas</td><td>Entergy Louisiana</td><td>Entergy Mississippi</td><td>Entergy New Orleans</td><td>Entergy Texas</td></tr><tr><td></td><td colspan="5">(In Thousands)</td></tr><tr><td>2016</td><td>$3,528</td><td>$4,746</td><td>$1,997</td><td>$708</td><td>$1,778</td></tr><tr><td>2015</td><td>$3,242</td><td>$4,324</td><td>$1,920</td><td>$721</td><td>$1,620</td></tr><tr><td>2014</td><td>$3,044</td><td>$4,133</td><td>$1,855</td><td>$710</td><td>$1,563</td></tr></table>

Question: How many Diluted earnings per averagecommon share exceed the average of Net income attributable toEntergy Corporation in 2009?
Answer: 2