Entergy Corp. reported fourth-quarter earnings of $296.3 million, or $1.66 per share, compared with $154.1 million, or 87 cents per share, a year earlier.

For the year, Entergy’s as-reported earnings were $846.7 million, or $4.76 per share, compared to earnings of $1.3 billion, or $7.55 per share, in 2011.

The company’s fourth-quarter results were boosted by lower income-income tax expenses thanks to a settlement with the Internal Revenue Service. However, higher income tax rate for the utilities business hurt 2012 earnings overall.