Entergy Louisiana, Inc.  Management's Financial Discussion and Analysis 203 statutory rate of 35.0% to the effective income tax rate.
Tax reserves not expected to reverse within the next year are reflected as non-current taxes accrued on the balance sheet.
Liquidity and Capital Resources Cash Flow Cash flows for the years ended December 31, 2004, 2003, and 2002 were as follows:
## Table 0 ##
Operating Activities Cash flow from operations increased $10.8 million in 2004 primarily due to the increased collection of deferred fuel costs and the receipt of an income tax payment through Entergy's inter-company tax allocation process.
The increase was almost entirely offset by money pool activity.
In 2003, the domestic utility companies and System Energy filed, with the IRS, a change in tax accounting method notification for their respective calculations of cost of goods sold.
The adjustment implemented a simplified method of allocation of overhead to the production of electricity, which is provided under the IRS capitalization regulations.
The cumulative adjustment placing these companies on the new methodology resulted in a $505 million deduction for Entergy Louisiana on Entergy's 2003 income tax return.
There was no cash benefit from the method change in 2003.
In 2004 Entergy Louisiana realized $100 million in cash tax benefit from the method change.
This tax accounting method change is an issue across the utility industry and will likely be challenged by the IRS on audit.
As of December 31, 2004, Entergy Louisiana has a net operating loss (NOL) carryforward for tax purposes of $195.7 million, principally resulting from the change in tax accounting method related to cost of goods sold.
If the tax accounting method change is sustained, Entergy Louisiana expects to utilize the NOL carryforward through 2005.
Cash flow from operations decreased $621.8 million in 2003 as a result of Entergy Louisiana changing its method of accounting for tax purposes related to its wholesale electric power contracts, including the contract to purchase power from the Vidalia project (the contract is discussed in Note 8 to the domestic utility companies and System Energy financial statements).
The new tax accounting method provided a cumulative cash flow benefit of approximately $790 million through 2004, which is expected to reverse in the years 2005 through 2031.
The election did not reduce book income tax expense.
The timing of the reversal of this benefit depends on several variables, including the price of power.
In a settlement approved by the LPSC, Entergy Louisiana will keep a portion of the benefit in exchange for crediting customer rates.
The credit will be $11 million annually through at least 2010.
See Part I, Item 1 for additional details concerning the settlement.
Entergy Louisiana reduced its indebtedness and preferred stock with a portion of the cash from the tax benefit.
In accordance with the terms of the settlement, Entergy Louisiana requested SEC approval to return up to $350 million of common equity capital to Entergy Corporation in order to maintain Entergy Louisiana's capital structure.
In December 2002, Entergy Louisiana repurchased $120 million of common stock from Entergy Corporation and, at the time of settlement, paid a dividend of $122.6 million pursuant to the SEC approval.
The provisions of the settlement provide that the LPSC shall not recognize or use Entergy Louisiana's use of this cash in
Entergy Mississippi, Inc.  Management's Financial Discussion and Analysis 227 Other regulatory charges (credits) have no material effect on net income due to recovery and/or refund of such expenses.
Other regulatory credits increased primarily due to the under-recovery through the Grand Gulf rider of Grand Gulf capacity charges.2003 Compared to 2002 Net revenue, which is Entergy Mississippi's measure of gross margin, consists of operating revenues net of: 1) fuel, fuel-related, and purchased power expenses and 2) other regulatory charges (credits).
Following is an analysis of the change in net revenue comparing 2003 to 2002.
## Table 1 ##
The increase in base rates was effective January 2003 as approved by the MPSC.
Gross operating revenue, fuel and purchased power expenses, and other regulatory charges (credits) Gross operating revenues increased primarily due to an increase in base rates effective January 2003 and an increase of $29.7 million in fuel cost recovery revenues due to quarterly changes in the fuel factor resulting from the increases in market prices of natural gas and purchased power.
This increase was partially offset by a decrease of $35.9 million in gross wholesale revenue as a result of decreased generation and purchases that resulted in less energy available for resale sales.
Fuel and fuel-related expenses decreased primarily due to the decreased recovery of fuel and purchased power costs and decreased generation, partially offset by an increase in the market price of purchased power.
Other regulatory charges increased primarily due to over-recovery of capacity charges related to the Grand Gulf rate rider and the cessation of the Grand Gulf Accelerated Recovery Tariff that was suspended in July 2003.
Other Income Statement Variances 2004 Compared to 2003 Other operation and maintenance expenses increased primarily due to: ?
an increase of $6.6 million in customer service support costs; and ?
an increase of $3.7 million in benefit costs.  .
The increase was partially offset by the absence of the voluntary severance program accruals of $7.1 million that occurred in 2003.
Taxes other than income taxes increased primarily due to a higher assessment of ad valorem and franchise taxes compared to the same period in 2003.2003 Compared to 2002 Other operation and maintenance expenses increased primarily due to: ?
voluntary severance program accruals of $7.1 million; and ?
an increase of $4.4 million in benefit costs.
Domestic utility companies and System Energy Notes to Respective Financial Statement
## Table 2 ##
As of December 31, 2004, federal net operating loss carryforwards were $766.9 million for Entergy Arkansas, $447.5 million for Entergy Gulf States, $195.7 million for Entergy Louisiana, $40.9 million for Entergy Mississippi, and $54.9 million for Entergy New Orleans.
If the federal net operating loss carryforwards are not utilized, they will expire in the year 2023.
As of December 31, 2004, state net operating loss carryforwards were $1.9 billion for Entergy Louisiana, $278 million for Entergy Gulf States, $11 million for Entergy New Orleans, and $638 million for Entergy Arkansas.
If the state net operating loss carryforwards are not utilized, they will expire in the years 2016 through 2018 for Entergy Louisiana, 2018 for Entergy Gulf States, 2018 for Entergy New Orleans, and 2008 for Entergy Arkansas.
NOTE 4.
LINES OF CREDIT AND SHORT-TERM BORROWINGS (Entergy Arkansas, Entergy Gulf States, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) The short-term borrowings of Entergy's subsidiaries are limited to amounts authorized by the SEC.
The current limits authorized are effective through November 30, 2007.
In addition to borrowing from commercial banks, Entergy's subsidiaries are authorized under the SEC order to borrow from Entergy's money pool.
The money pool is an inter-company borrowing arrangement designed to reduce Entergy's subsidiaries' dependence on external short-term borrowings.
Borrowings from the money pool and external borrowings combined may not exceed the SEC authorized limits.
Under the SEC Order and without further SEC authorization, the domestic utility companies and System Energy cannot incur additional short-term indebtedness unless (a) the issuer and Entergy Corporation maintain a common equity ratio of at least 30% and (b) with the exception of money pool borrowings, the security to be issued (if rated) and all outstanding securities of the issuer (other than preferred stock of Entergy Gulf States and Entergy New Orleans), as well as all outstanding securities of Entergy Corporation, that are rated, are rated investment grade.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td> 2004</td><td> 2003</td><td> 2002</td></tr><tr><td></td><td colspan="3">(In Thousands)</td></tr><tr><td>Cash and cash equivalents at beginning of period</td><td>$8,787</td><td>$311,800</td><td>$42,408</td></tr><tr><td>Cash flow provided by (used in):</td><td></td><td></td><td></td></tr><tr><td>Operating activities</td><td>424,718</td><td>413,939</td><td>1,035,777</td></tr><tr><td>Investing activities</td><td>-243,231</td><td>-268,372</td><td>-212,333</td></tr><tr><td>Financing activities</td><td>-44,225</td><td>-448,580</td><td>-554,052</td></tr><tr><td>Net increase (decrease) in cash and cash equivalents</td><td>137,262</td><td>-303,013</td><td>269,392</td></tr><tr><td>Cash and cash equivalents at end of period</td><td>$146,049</td><td>$8,787</td><td>$311,800</td></tr></table>
<table><tr><td></td><td>(In Millions)</td></tr><tr><td>2002 net revenue</td><td>$380.2</td></tr><tr><td>Base rates</td><td>48.3</td></tr><tr><td>Other</td><td>-1.9</td></tr><tr><td>2003 net revenue</td><td>$426.6</td></tr></table>
<table><tr><td> 2003</td><td> Entergy  Arkansas</td><td> Entergy  Gulf States</td><td> Entergy  Louisiana</td><td> Entergy  Mississippi</td><td> Entergy  New Orleans</td><td> System  Energy</td></tr><tr><td></td><td colspan="6">(In Thousands)</td></tr><tr><td>Deferred and Long-term Accrued Tax Liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net regulatory assets/(liabilities)</td><td>-$157,147</td><td>-$478,254</td><td>-$195,074</td><td>-$34,738</td><td>$38,834</td><td>-$246,519</td></tr><tr><td>Plant-related basis differences, net</td><td>-798,641</td><td>-1,095,206</td><td>-806,955</td><td>-284,550</td><td>-74,041</td><td>-332,197</td></tr><tr><td>Power purchase agreements</td><td>-</td><td>-</td><td>-945,495</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deferred fuel</td><td>-4,154</td><td>-45,762</td><td>-</td><td>-40,091</td><td>-1,109</td><td>-</td></tr><tr><td>Long term taxes accrued</td><td>-26,611</td><td>-55,155</td><td>-</td><td>-52,646</td><td>-17,491</td><td>-57,239</td></tr><tr><td>Other</td><td>-85,528</td><td>-26,012</td><td>-67,272</td><td>-21,806</td><td>-1,728</td><td>-11,497</td></tr><tr><td>Total</td><td>-1,072,081</td><td>-1,700,389</td><td>-2,014,796</td><td>-433,831</td><td>-55,535</td><td>-647,452</td></tr><tr><td>Deferred Tax Assets:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accumulated deferred investment</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>tax credit</td><td>28,836</td><td>36,192</td><td>38,962</td><td>5,773</td><td>1,709</td><td>30,251</td></tr><tr><td>Sale and leaseback</td><td>-</td><td>-</td><td>83,539</td><td>-</td><td>-</td><td>139,595</td></tr><tr><td>NOL carryforward</td><td>-</td><td>-</td><td>104,489</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Unbilled/Deferred revenues</td><td>-</td><td>11,959</td><td>-</td><td>7,357</td><td>-</td><td>-</td></tr><tr><td>Pension-related items</td><td>5,453</td><td>11,474</td><td>12,562</td><td>-</td><td>9,324</td><td>7,354</td></tr><tr><td>Reserve for regulatory adjustments</td><td>-</td><td>138,933</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rate refund</td><td>2,351</td><td>23,184</td><td>789</td><td>379</td><td>3,977</td><td>170,222</td></tr><tr><td>Customer deposits</td><td>37,778</td><td>35,840</td><td>16,804</td><td>18,085</td><td>84</td><td>-</td></tr><tr><td>Nuclear decommissioning</td><td>13,171</td><td>-</td><td>2,833</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>6,399</td><td>26,147</td><td>26,096</td><td>9,722</td><td>1,415</td><td>8,124</td></tr><tr><td>Total</td><td>93,988</td><td>283,729</td><td>286,074</td><td>41,316</td><td>16,509</td><td>355,546</td></tr><tr><td>Net deferred tax liability</td><td>-$978,093</td><td>-$1,416,660</td><td>-$1,728,722</td><td>-$392,515</td><td>-$39,026</td><td>-$291,906</td></tr></table>

Question: what is the growth rate in net revenue for entergy mississippi , inc . in 2003?
Answer: 0.12204
Reasoning program: subtract(426.6,380.2), divide(#0,380.2)