Entergy Corporation and Subsidiaries Notes to Financial Statements 125 NOTE 7.
COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Treasury Stock Treasury stock activity for Entergy for 2008, 2007, and 2006 is as follows:
## Table 0 ##
Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors' Plan), two Equity Ownership Plans of Entergy Corporation and Subsidiaries, the Equity Awards Plan of Entergy Corporation and Subsidiaries, and certain other stock benefit plans.
The Directors' Plan awards to non-employee directors a portion of their compensation in the form of a fixed number of shares of Entergy Corporation common stock.
In January 2007, the Board approved a repurchase program under which Entergy is authorized to repurchase up to $1.5 billion of its common stock, of which $1.4 billion was repurchased as of December 31, 2008.
In January 2008, the Board authorized an incremental $500 million share repurchase program to enable Entergy to consider opportunistic purchases in response to equity market conditions.
Entergy expects to complete both of these programs in 2009.
The amount of repurchases may vary as a result of material changes in business results or capital spending or new investment opportunities.
The Board had previously approved a program under which Entergy was authorized to repurchase up to $1.5 billion of its common stock through 2006.
Entergy completed this program in the fourth quarter 2006.
Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation or pertinent indentures and various other agreements relating to the long-term debt and preferred stock of certain of Entergy Corporation's subsidiaries restrict the payment of cash dividends or other distributions on their common and preferred stock.
As of December 31, 2008, Entergy Arkansas and Entergy Mississippi had restricted retained earnings unavailable for distribution to Entergy Corporation of $461.6 million and $121.6 million, respectively.
Entergy Corporation received dividend payments from subsidiaries totaling $313 million in 2008, $625 million in 2007, and $950 million in 2006
Entergy Corporation and Subsidiaries Notes to Financial Statements 136 Nuclear Fuel Leases As of December 31, 2008, arrangements to lease nuclear fuel existed in an aggregate amount up to $145 million for Entergy Arkansas, $150 million for Entergy Gulf States Louisiana, $110 million for Entergy Louisiana, and $205 million for System Energy.
As of December 31, 2008, the unrecovered cost base of nuclear fuel leases amounted to approximately $125.1 million for Entergy Arkansas, $120.2 million for Entergy Gulf States Louisiana, $74.2 million for Entergy Louisiana, and $125.4 million for System Energy.
The lessors finance the acquisition and ownership of nuclear fuel through loans made under revolving credit agreements, the issuance of commercial paper, and the issuance of intermediate-term notes.
The credit agreements for Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy each have a termination date of August 12, 2010.
The termination dates may be extended from time to time with the consent of the lenders.
The intermediate-term notes issued pursuant to these fuel lease arrangements have varying maturities through September 15, 2013.
It is expected that additional financing under the leases will be arranged as needed to acquire additional fuel, to pay interest, and to pay maturing debt.
However, if such additional financing cannot be arranged, the lessee in each case must repurchase sufficient nuclear fuel to allow the lessor to meet its obligations in accordance with the fuel lease.
Lease payments are based on nuclear fuel use.
The table below represents the total nuclear fuel lease payments (principal and interest), as well as the separate interest component charged to operations, in 2008, 2007, and 2006 for the four Registrant Subsidiaries that own nuclear power plants:
## Table 1 ##
Sale and Leaseback Transactions Waterford 3 Lease Obligations In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million.
The interests represent approximately 9.3% of Waterford 3.
The leases expire in 2017.
Under certain circumstances, Entergy Louisiana may repurchase the leased interests prior to the end of the term of the leases.
At the end of the lease terms, Entergy Louisiana has the option to repurchase the leased interests in Waterford 3 at fair market value or to renew the leases for either fair market value or, under certain conditions, a fixed rate.
Entergy Louisiana issued $208.2 million of non-interest bearing first mortgage bonds as collateral for the equity portion of certain amounts payable under the leases.
Upon the occurrence of certain events, Entergy Louisiana may be obligated to assume the outstanding bonds used to finance the purchase of the interests in the unit and to pay an amount sufficient to withdraw from the lease transaction.
Such events include lease events of default, events of loss, deemed loss events, or certain adverse "Financial Events. "
"Financial Events" include, among other things, failure by Entergy Louisiana, following the expiration of any applicable grace or cure period, to maintain (i) total equity capital (including preferred membership interests) at least equal to 30% of adjusted capitalization, or (ii) a fixed charge coverage ratio of at least 1.50
Entergy Gulf States Louisiana, L. L. C.  Management's Financial Discussion and Analysis 280 Following are the amounts of Entergy Gulf States Louisiana's planned construction and other capital investments, existing debt and lease obligations (includes estimated interest payments), and other purchase obligations:
## Table 2 ##
(1) Includes approximately $148 million annually for maintenance capital, which is planned spending on routine capital projects that are necessary to support reliability of service, equipment or systems and to support normal customer growth.
(2) Purchase obligations represent the minimum purchase obligation or cancellation charge for contractual obligations to purchase goods or services.
For Entergy Gulf States Louisiana, it primarily includes unconditional fuel and purchased power obligations.
(3) It is expected that additional financing under the leases will be arranged as needed to acquire additional fuel, to pay interest, and to pay maturing debt.
If such additional financing cannot be arranged, however, Entergy Gulf States Louisiana must repurchase sufficient nuclear fuel to allow the lessor to meet its obligations.
In addition to the contractual obligations given above, Entergy Gulf States Louisiana expects to spend approximately $39 million related to Hurricane Gustav restoration work in 2009.
Also, Entergy Gulf States Louisiana expects to contribute $4.7 million to its pension plans and $7.5 million to other postretirement plans in 2009.
Guidance pursuant to the Pension Protection Act of 2006 rules, effective for the 2008 plan year and beyond, may affect the level of Entergy Gulf States Louisiana's pension contributions in the future.
Also in addition to the contractual obligations, Entergy Gulf States Louisiana has $275.4 million of unrecognized tax benefits and interest for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions.
See Note 3 to the financial statements for additional information regarding unrecognized tax benefits.
The planned capital investment estimate for Entergy Gulf States Louisiana reflects capital required to support existing business and customer growth.
Entergy's Utility supply plan initiative will continue to seek to transform its generation portfolio with new or repowered generation resources.
Opportunities resulting from the supply plan initiative, including new projects or the exploration of alternative financing sources, could result in increases or decreases in the capital expenditure estimates given above.
The estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints, environmental compliance, market volatility, economic trends, business restructuring, and the ability to access capital.
Management provides more information on long-term debt and preferred membership interest maturities in Notes 5 and 6 to the financial statements.
As an indirect, wholly-owned subsidiary of Entergy Corporation, Entergy Gulf States Louisiana pays distributions from its earnings at a percentage determined monthly.
Entergy Gulf States Louisiana's long-term debt indentures contain restrictions on the payment of cash dividends or other distributions on its common and preferred membership interests.
Little Gypsy Repowering Project In April 2007, Entergy Louisiana announced that it intended to pursue the solid fuel repowering of a 538 MW unit at its Little Gypsy plant, and Entergy Gulf States Louisiana filed subsequently with the LPSC seeking certification to participate in one-third of the project.
Petroleum coke and coal would be the unit's primary fuel sources.
In July 2007, Entergy Louisiana filed with the LPSC for approval of the repowering project.
In addition to seeking a finding that the project is in the public interest, the filing with the LPSC asked that Entergy Louisiana be
Entergy Gulf States Louisiana, L. L. C.  Management's Financial Discussion and Analysis 282 Sources of Capital Entergy Gulf States Louisiana's sources to meet its capital requirements include: x internally generated funds; x cash on hand; x debt or preferred membership interest issuances; and x bank financing under new or existing facilities.
Entergy Gulf States Louisiana may refinance or redeem debt and preferred equity/membership interests prior to maturity, to the extent market conditions and interest and dividend rates are favorable.
All debt and common and preferred equity/membership interest issuances by Entergy Gulf States Louisiana require prior regulatory approval.
Preferred equity/membership interest and debt issuances are also subject to issuance tests set forth in its corporate charter, bond indentures, and other agreements.
Entergy Gulf States Louisiana has sufficient capacity under these tests to meet its foreseeable capital needs.
Entergy Gulf States, Inc.  filed with the FERC an application, on behalf of Entergy Gulf States Louisiana, for authority to issue up to $200 million of shortterm debt, up to $500 million of tax-exempt bonds and up to $750 million of other long-term securities, including common and preferred membership interests and long-term debt.
On November 8, 2007 the FERC issued orders granting the requested authority for a two-year period ending November 8, 2009.
Entergy Gulf States Louisiana's receivables from or (payables to) the money pool were as follows as of December 31 for each of the following years:
## Table 3 ##
See Note 4 to the financial statements for a description of the money pool.
Entergy Gulf States Louisiana has a credit facility in the amount of $100 million scheduled to expire in August 2012.
No borrowings were outstanding under the credit facility as of December 31, 2008.
In May 2008, Entergy Gulf States Louisiana issued $375 million of 6.00% Series First Mortgage Bonds due May 2018.
The proceeds were used to pay at maturity the portion of the $325 million of 3.6% Series First Mortgage Bonds due June 2008 that had not been assumed by Entergy Texas and to redeem, prior to maturity, $189.7 million of the $350 million Floating Rate series of First Mortgage bonds due December 2008, and for other general corporate purposes.
The portion of the $325 million of 3.6% Series First Mortgage Bonds due June 2008 that had been assumed by Entergy Texas were paid at maturity by Entergy Texas in June 2008, and that bond series is no longer outstanding.
The portion of the $350 million Floating Rate series of First Mortgage Bonds due December 2008 that had been assumed by Entergy Texas were paid at maturity by Entergy Texas in December 2008, and that bond series is no longer outstanding.
Hurricane Rita and Hurricane Katrina In August and September 2005, Hurricanes Katrina and Rita hit Entergy Gulf States Inc. 's jurisdictions in Louisiana and Texas.
The storms resulted in power outages; significant damage to electric distribution, transmission, and generation infrastructure; and the temporary loss of sales and customers due to mandatory evacuations.
Entergy Gulf States Louisiana is pursuing a range of initiatives to recover storm restoration and business continuity costs and incremental losses.
Initiatives include obtaining reimbursement of certain costs covered by insurance and pursuing recovery through existing or new rate mechanisms regulated by the FERC and local regulatory bodies, in combination with securitization.

<table><tr><td></td><td colspan="2"> 2008</td><td colspan="2"> 2007</td><td colspan="2"> 2006</td></tr><tr><td></td><td> Treasury</td><td></td><td> Treasury</td><td></td><td> Treasury</td><td></td></tr><tr><td></td><td> Shares</td><td> Cost (In Thousands)</td><td> Shares</td><td> Cost (In Thousands)</td><td> Shares</td><td> Cost (In Thousands)</td></tr><tr><td>Beginning Balance, January 1</td><td>55,053,847</td><td>$3,734,865</td><td>45,506,311</td><td>$2,644,390</td><td>40,644,602</td><td>$2,161,960</td></tr><tr><td>Repurchases</td><td>4,792,299</td><td>512,351</td><td>11,581,842</td><td>1,215,578</td><td>6,672,000</td><td>584,193</td></tr><tr><td>Issuances:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Employee Stock-Based Compensation Plans</td><td> -1,025,408</td><td> -71,636</td><td> -2,029,686</td><td> -124,801</td><td> -1,803,471</td><td> -101,393</td></tr><tr><td>Directors' Plan</td><td>-5,220</td><td>-366</td><td>-4,620</td><td>-302</td><td>-6,820</td><td>-370</td></tr><tr><td>Ending Balance, December 31</td><td>58,815,518</td><td>$4,175,214</td><td>55,053,847</td><td>$3,734,865</td><td>45,506,311</td><td>$2,644,390</td></tr></table>
<table><tr><td></td><td colspan="2"> 2008</td><td colspan="2"> 2007</td><td colspan="2"> 2006</td></tr><tr><td></td><td> Lease Payments</td><td>  Interest</td><td> Lease Payments</td><td>  Interest</td><td> Lease Payments</td><td>  Interest</td></tr><tr><td></td><td colspan="6">(In Millions)</td></tr><tr><td>Entergy Arkansas</td><td>$63.5</td><td>$4.7</td><td>$61.7</td><td>$5.8</td><td>$55.0</td><td>$5.0</td></tr><tr><td>Entergy Gulf States Louisiana</td><td>29.3</td><td>2.5</td><td>31.5</td><td>2.8</td><td>28.1</td><td>3.6</td></tr><tr><td>Entergy Louisiana</td><td>44.6</td><td>3.0</td><td>44.2</td><td>4.0</td><td>35.5</td><td>2.4</td></tr><tr><td>System Energy</td><td>33.0</td><td>2.9</td><td>30.4</td><td>4.0</td><td>32.8</td><td>3.6</td></tr><tr><td>Total</td><td>$170.4</td><td>$13.1</td><td>$167.8</td><td>$16.6</td><td>$151.4</td><td>$14.6</td></tr></table>
<table><tr><td></td><td> 2009</td><td> 2010-2011</td><td> 2012-2013</td><td> after 2013</td><td> Total</td></tr><tr><td> </td><td colspan="5">(In Millions)</td></tr><tr><td>Planned construction and</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>capital investment -1</td><td>$424</td><td>$662</td><td>N/A</td><td>N/A</td><td>$1,086</td></tr><tr><td>Long-term debt</td><td>$330</td><td>$523</td><td>$371</td><td>$1,886</td><td>$3,110</td></tr><tr><td>Operating leases</td><td>$11</td><td>$18</td><td>$16</td><td>$63</td><td>$108</td></tr><tr><td>Purchase obligations -2</td><td>$79</td><td>$118</td><td>$51</td><td>$90</td><td>$338</td></tr><tr><td>Nuclear fuel lease obligations -3</td><td>$24</td><td>$116</td><td>N/A</td><td>N/A</td><td>$140</td></tr></table>
<table><tr><td>2008</td><td>2007</td><td>2006</td><td>2005</td></tr><tr><td>(In Thousands)</td></tr><tr><td>$11,589</td><td>$55,509</td><td>$75,048</td><td>$64,011</td></tr></table>

Question: Does Repurchases for Cost keeps increasing each year between 2007 and 2008?
Answer: No