Retirement, Other Postretirement Benefits, And Defined Contribution Plans

12 Months Ended

Dec. 31, 2014

Retirement And Other Postretirement Benefits

RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS  (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Qualified Pension Plans

Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment.  The “Entergy Corporation Retirement Plan III” is a final average pay plan that provides pension benefits that are based on employees’ credited service and compensation during the final years before retirement and includes a mandatory employee contribution of 3% of earnings during the first 10 years of plan participation, and allows voluntary contributions from 1% to 10% of earnings for a limited group of employees. Non-bargaining employees hired or rehired after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.”

The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy and the assets of the two cash balance pension plans are held in a second master trust established by Entergy.  Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee.  Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes.  Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust.  The fair value of the trusts’ assets is determined by the trustee and certain investment managers.  For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis.

Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly.  Assets for each Registrant Subsidiary are increased for investment income and contributions, and are decreased for benefit payments.  A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter.

Entergy Corporation and its subsidiaries fund pension costs in accordance with contribution guidelines established by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended.  The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts.  The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions.

Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI)

Entergy Corporation and its subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components:

	2014			2013			2012
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$140,436			$172,280			$150,763
Interest cost on projected benefit obligation	290,076			263,296			260,929
Expected return on assets	(361,462		)	(328,227		)	(317,423		)
Amortization of prior service cost	1,600			2,125			2,733
Recognized net loss	145,095			213,194			167,279
Curtailment loss	—			16,318			—
Special termination benefit	732			13,139			—
Net periodic pension costs		$216,477			$352,125			$264,281
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net (gain)/loss		$1,389,912			($894,150	)		$552,303
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(1,600		)	(2,125		)	(2,733		)
Acceleration of prior service cost to curtailment	—			(1,307		)	—
Amortization of net loss	(145,095		)	(213,194		)	(167,279		)
Total	1,243,217			(1,110,776		)	382,291
Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax)		$1,459,694			($758,651	)		$646,572
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year:
Prior service cost		$1,561			$1,600			$2,268
Net loss		$237,013			$146,958			$219,805

The Registrant Subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States  Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$20,090			$11,524			$14,182			$6,094			$2,666			$5,142			$5,785
Interest cost on projected benefit obligation	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Expected return on assets	(73,218		)	(37,950		)	(45,796		)	(22,794		)	(10,019		)	(23,723		)	(16,619		)
Amortization of prior service cost	—			—			—			—			—			—			2
Recognized net loss	35,956			15,923			24,523			9,415			5,796			9,356			9,500
Net pension cost		$42,365			$18,611			$30,779			$9,988			$6,607			$8,521			$12,229
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$300,907			$125,090			$193,842			$88,199			$38,161			$65,363			$60,763
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	—			—			—			—			—			—			(2		)
Amortization of net loss	(35,956		)	(15,923		)	(24,523		)	(9,415		)	(5,796		)	(9,356		)	(9,500		)
Total		$264,951			$109,167			$169,319			$78,784			$32,365			$56,007			$51,261
Total recognized as net periodic pension income regulatory asset, and/or AOCI (before tax)		$307,316			$127,778			$200,098			$88,772			$38,972			$64,528			$63,490
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Net loss		$54,254			$23,098			$36,704			$14,896			$8,053			$12,950			$13,055

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$25,229			$14,258			$17,044			$7,295			$3,264			$6,475			$7,242
Interest cost on projected benefit obligation	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Expected return on assets	(66,951		)	(34,982		)	(41,948		)	(21,139		)	(9,117		)	(22,277		)	(17,249		)
Amortization of prior service cost	23			9			83			10			2			6			9
Recognized net loss	49,517			23,374			34,107			13,189			7,878			13,302			9,560
Curtailment loss	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Net pension cost		$69,013			$31,013			$49,316			$16,283			$10,413			$16,223			$13,702
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net gain		($177,105	)		($98,610	)		($123,234	)		($52,525	)		($25,419	)		($55,772	)		($35,511	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(23		)	(9		)	(83		)	(10		)	(2		)	(6		)	(9		)
Amortization of net loss	(49,517		)	(23,374		)	(34,107		)	(13,189		)	(7,878		)	(13,302		)	(9,560		)
Total		($226,645	)		($121,993	)		($157,424	)		($65,724	)		($33,299	)		($69,080	)		($45,080	)
Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax)		($157,632	)		($90,980	)		($108,108	)		($49,441	)		($22,886	)		($52,857	)		($31,378	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$—			$—			$—			$—			$—			$—			$2
Net loss		$35,984			$15,935			$24,360			$9,421			$5,802			$9,363			$9,510

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$22,169			$12,273			$14,675			$6,410			$2,824			$5,684			$5,920
Interest cost on projected benefit obligation	55,686			25,679			35,201			16,279			7,608			16,823			12,987
Expected return on assets	(65,763		)	(34,370		)	(40,836		)	(20,945		)	(8,860		)	(22,325		)	(16,436		)
Amortization of prior service cost	200			19			208			30			7			15			13
Recognized net loss	40,772			16,173			28,197			10,532			6,878			10,179			9,001
Net pension cost		$53,064			$19,774			$37,445			$12,306			$8,457			$10,376			$11,485
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$105,133			$77,207			$76,163			$27,106			$14,282			$28,745			$10,266
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(200		)	(19		)	(208		)	(30		)	(7		)	(15		)	(13		)
Amortization of net loss	(40,772		)	(16,173		)	(28,197		)	(10,532		)	(6,878		)	(10,179		)	(9,001		)
Total		$64,161			$61,015			$47,758			$16,544			$7,397			$18,551			$1,252
Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax)		$117,225			$80,789			$85,203			$28,850			$15,854			$28,927			$12,737
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$23			$9			$83			$10			$2			$6			$10
Net loss		$50,175			$23,731			$34,906			$13,375			$8,046			$13,494			$9,717

Qualified PensionObligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet for Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$5,770,999			$6,096,639
Service cost	140,436			172,280
Interest cost	290,076			263,296
Curtailment	—			15,011
Special termination benefit	732			13,139
Actuarial loss/(gain)	1,284,049			(571,990		)
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Balance at end of year		$7,230,542			$5,770,999
Change in Plan Assets
Fair value of assets at beginning of year		$4,429,237			$3,832,860
Actual return on plan assets	255,599			650,386
Employer contributions	398,880			163,367
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Fair value of assets at end of year		$4,827,966			$4,429,237
Funded status		($2,402,576	)		($1,341,762	)
Amount recognized in the balance sheet
Non-current liabilities		($2,402,576	)		($1,341,762	)
Amount recognized as a regulatory asset
Prior service cost		$3,704			$5,027
Net loss	2,451,172			1,494,117
		$2,454,876			$1,499,144
Amount recognized as AOCI (before tax)
Prior service cost		$1,015			$1,292
Net loss	671,682			383,920
		$672,697			$385,212

Qualified Pension Obligations, Plan Assets, Funded Status, and Amounts Recognized in the Balance Sheet for the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Service cost	20,090			11,524			14,182			6,094			2,666			5,142			5,785
Interest cost	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Actuarial loss	279,781			113,883			180,763			81,600			35,131			58,556			55,410
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Balance at end of year		$1,485,718			$709,994			$956,541			$432,169			$202,555			$418,498			$334,312
Change in Plan Assets
Fair value of assets at beginning of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Actual return on plan assets	52,092			26,744			32,716			16,196			6,988			16,916			11,265
Employer contributions	95,464			30,176			54,549			21,839			10,509			17,072			21,261
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Fair value of assets at end of year		$977,521			$501,826			$611,533			$301,250			$133,344			$310,713			$217,621
Funded status		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized as  regulatory asset
Net loss		$722,119			$272,695			$468,779			$198,972			$102,141			$176,522			$172,463
Amounts recognized as AOCI (before tax)
Net loss		$—			$40,748			$—			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,274,886			$623,068			$817,745			$369,852			$174,585			$382,176			$282,841
Service cost	25,229			14,258			17,044			7,295			3,264			6,475			7,242
Interest cost	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Curtailment	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Actuarial gain	(110,943		)	(64,119		)	(80,794		)	(31,684		)	(16,276		)	(33,792		)	(23,882		)
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Balance at end of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Change in Plan Assets
Fair value of assets at beginning of year		$785,527			$409,971			$489,027			$248,272			$106,778			$262,110			$168,697
Actual return on plan assets	133,113			69,473			84,388			41,980			18,259			44,257			28,878
Employer contributions	35,382			11,550			21,152			8,152			4,175			6,880			8,305
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Fair value of assets at end of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Funded status		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized as  regulatory asset
Prior service cost		$—			$—			($1	)		$—			$—			$—			($4	)
Net loss	457,485			178,990			299,740			120,290			69,856			120,619			121,327
		$457,485			$178,990			$299,739			$120,290			$69,856			$120,619			$121,323
Amounts recognized as AOCI  (before tax)
Net loss		$—			$25,437			$—			$—			$—			$—			$—

Other Postretirement Benefits

Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees.  Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits.

In December 2013, Entergy announced changes to its other postretirement benefits which include, among other things, elimination of other postretirement benefits for all non-bargaining employees hired or rehired after June 30, 2014 and for certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreement, and setting a dollar limit cap on Entergy’s contribution to retiree medical costs, effective 2019 for those non-bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 and for certain bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 or such later date as provided for in their applicable collective bargaining agreement. In accordance with accounting standards, certain of the other postretirement benefit changes have been reflected in the December 31, 2013 other postretirement obligation. The changes affecting active bargaining unit employees are being negotiated with the unions prior to implementation, where necessary, and to the extent required by law.

Entergy uses a December 31 measurement date for its postretirement benefit plans.

Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions.  At January 1, 1993, the actuarially determined accumulated postretirement benefit obligation (APBO) earned by retirees and active employees was estimated to be approximately $241.4 million for Entergy (other than the former Entergy Gulf States) and $128 million for the former Entergy Gulf States (now split into Entergy Gulf States Louisiana and Entergy Texas).  Such obligations were being amortized over a 20-year period that began in 1993 and ended in 2012.  For the most part, the Registrant Subsidiaries recover accrued other postretirement benefit costs from customers and are required to contribute the other postretirement benefits collected in rates to an external trust.

Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates.  Entergy Arkansas began recovery in 1998, pursuant to an APSC order.  This order also allowed Entergy Arkansas to amortize a regulatory asset (representing the difference between other postretirement benefit costs and cash expenditures for other postretirement benefits incurred from 1993 through 1997) over a 15-year period that began in January 1998 and ended in December 2012.

The LPSC ordered Entergy Gulf States Louisiana and Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions.  However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted.

Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts.  System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf.

Trust assets contributed by participating Registrant Subsidiaries are in bank-administered master trusts, established by Entergy Corporation and maintained by a trustee.  Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets.  The assets in the master trusts are commingled for investment and administrative purposes.  Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses.  Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts.

Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI

Entergy Corporation’s and its subsidiaries’ total 2014, 2013, and 2012 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components:

	2014			2013			2012
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$43,493			$74,654			$68,883
Interest cost on APBO	71,841			79,453			82,561
Expected return on assets	(44,787		)	(40,323		)	(34,503		)
Amortization of transition obligation	—			—			3,177
Amortization of prior service credit	(31,590		)	(14,904		)	(18,163		)
Recognized net loss	11,143			44,178			36,448
Curtailment loss	—			12,729			—
Net other postretirement benefit cost		$50,100			$155,787			$138,403
Other changes in plan assets and benefit  obligations recognized as a regulatory asset  and /or AOCI (before tax)
Arising this period:
Prior service credit for period		($35,864	)		($116,571	)		$—
Net loss/(gain)	287,313			(405,976		)	92,584
Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year:
Amortization of transition obligation	—			—			(3,177		)
Amortization of prior service credit	31,590			14,904			18,163
Acceleration of prior service credit due to curtailment	—			1,989			—
Amortization of net loss	(11,143		)	(44,178		)	(36,448		)
Total		$271,896			($549,832	)		$71,122
Total recognized as net periodic benefit income/(cost),  regulatory asset, and/or AOCI (before tax)		$321,996			($394,045	)		$209,525
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic  benefit cost  in the following year
Prior service credit		($37,280	)		($31,589	)		($13,336	)
Net loss		$31,591			$11,197			$45,217

Total 2014, 2013, and 2012 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$5,957			$4,896			$4,518			$1,900			$868			$2,378			$2,058
Interest cost on APBO	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Expected return on assets	(19,135		)	—			—			(5,771		)	(4,475		)	(10,358		)	(3,727		)
Amortization of prior credit	(2,441		)	(2,237		)	(3,377		)	(915		)	(709		)	(1,300		)	(824		)
Recognized net loss	1,267			1,212			1,511			149			56			801			443
Net other postretirement benefit (income)/cost		($2,091	)		$12,249			$10,916			($982	)		($1,455	)		($2,827	)		$561
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		$—			($12,845	)		$—			$—			$—			($8,536	)		($3,845	)
Net loss		$55,642			$36,467			$24,582			$9,525			$6,309			$24,482			$10,596
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	2,441			2,237			3,377			915			709			1,300			824
Amortization of net loss	(1,267		)	(1,212		)	(1,511		)	(149		)	(56		)	(801		)	(443		)
Total		$56,816			$24,647			$26,448			$10,291			$6,962			$16,445			$7,132
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$54,725			$36,896			$37,364			$9,309			$5,507			$13,618			$7,693
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($4,086	)		($3,381	)		($916	)		($709	)		($2,723	)		($1,465	)
Net loss		$5,356			$3,908			$3,210			$860			$470			$2,740			$1,198

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,619			$7,910			$8,541			$3,246			$1,752			$3,760			$3,580
Interest cost on APBO	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Expected return on assets	(16,843		)	—			—			(5,335		)	(4,101		)	(9,391		)	(3,350		)
Amortization of prior credit	(689		)	(942		)	(508		)	(204		)	(24		)	(501		)	(126		)
Recognized net loss	7,976			4,598			5,050			2,534			1,509			3,744			1,896
Curtailment loss	4,517			1,546			1,848			596			354			1,436			760
Net other postretirement benefit cost		$18,125			$22,076			$24,341			$5,126			$2,625			$5,124			$5,705
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		($11,617	)		($8,705	)		($18,844	)		($4,714	)		($4,469	)		($5,359	)		($4,591	)
Net loss		($81,236	)		($40,938	)		($43,743	)		($30,018	)		($18,508	)		($34,562	)		($17,579	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	689			942			508			204			24			501			126
Acceleration of prior service credit/(cost) due to curtailment	78			91			41			20			(4		)	62			9
Amortization of net loss	(7,976		)	(4,598		)	(5,050		)	(2,534		)	(1,509		)	(3,744		)	(1,896		)
Total		($100,062	)		($53,208	)		($67,088	)		($37,042	)		($24,466	)		($43,102	)		($23,931	)
Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax)		($81,937	)		($31,132	)		($42,747	)		($31,916	)		($21,841	)		($37,978	)		($18,226	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($2,236	)		($3,376	)		($918	)		($709	)		($1,301	)		($824	)
Net loss		$1,267			$1,212			$1,511			$149			$56			$800			$464

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,089			$7,521			$7,796			$3,093			$1,689			$3,651			$3,293
Interest cost on APBO	14,452			9,590			9,781			4,716			3,422			6,650			3,028
Expected return on assets	(14,029		)	—			—			(4,521		)	(3,711		)	(8,415		)	(2,601		)
Amortization of transition obligation	820			238			382			351			1,189			187			8
Amortization of prior service cost/(credit)	(530		)	(824		)	(247		)	(139		)	38			(428		)	(63		)
Recognized net loss	8,305			4,737			4,359			2,920			1,559			4,320			1,970
Net other postretirement benefit cost		$18,107			$21,262			$22,071			$6,420			$4,186			$5,965			$5,635
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$9,066			$5,818			$16,215			$271			$2,260			$191			$2,043
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of transition obligation	(820		)	(238		)	(382		)	(351		)	(1,189		)	(187		)	(8		)
Amortization of prior service (cost)/credit	530			824			247			139			(38		)	428			63
Amortization of net loss	(8,305		)	(4,737		)	(4,359		)	(2,920		)	(1,559		)	(4,320		)	(1,970		)
Total		$471			$1,667			$11,721			($2,861	)		($526	)		($3,888	)		$128
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$18,578			$22,929			$33,792			$3,559			$3,660			$2,077			$5,763
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service cost/(credit)		($530	)		($824	)		($247	)		($139	)		$38			($428	)		($62	)
Net loss		$8,163			$4,693			$5,149			$2,650			$1,587			$3,905			$1,915

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet of Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in APBO
Balance at beginning of year		$1,461,910			$1,846,922
Service cost	43,493			74,654
Interest cost	71,841			79,453
Plan amendments	(35,864		)	(116,571		)
Curtailment	—			14,718
Plan participant contributions	22,160			19,141
Actuarial loss/(gain)	274,061			(370,004		)
Benefits paid	(102,439		)	(89,713		)
Medicare Part D subsidy received	4,395			3,310
Balance at end of year		$1,739,557			$1,461,910
Change in Plan Assets
Fair value of assets at beginning of year		$569,850			$488,448
Actual return on plan assets	31,535			76,314
Employer contributions	76,521			75,660
Plan participant contributions	22,160			19,141
Benefits paid	(102,439		)	(89,713		)
Fair value of assets at end of year		$597,627			$569,850
Funded status		($1,141,930	)		($892,060	)
Amounts recognized in the balance sheet
Current liabilities		($41,821	)		($40,602	)
Non-current liabilities	(1,100,109		)	(851,458		)
Total funded status		($1,141,930	)		($892,060	)
Amounts recognized as a regulatory asset
Prior service credit		($54,508	)		($93,332	)
Net loss	248,918			165,270
		$194,410			$71,938
Amounts recognized as AOCI (before tax)
Prior service credit		($104,086	)		($60,988	)
Net loss	300,518			107,996
		$196,432			$47,008

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Service cost	5,957			4,896			4,518			1,900			868			2,378			2,058
Interest cost	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Plan amendments	—			(12,845		)	—			—			—			(8,536		)	(3,845		)
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Actuarial loss	49,573			36,467			24,582			7,939			5,097			21,471			9,524
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Medicare Part D subsidy received	980			520			654			322			222			440			152
Balance at end of year		$303,716			$199,409			$195,537			$83,162			$63,779			$130,145			$60,754
Change in Plan Assets
Fair value of assets at beginning of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Actual return on plan assets	13,066			—			—			4,185			3,263			7,347			2,655
Employer contributions	15,251			8,309			11,245			8,505			4,289			3,446			334
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Fair value of assets at end of year		$244,191			$—			$—			$80,935			$71,004			$135,733			$48,293
Funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,884	)		($9,840	)		$—			$—			$—			$—
Non-current liabilities	(59,525		)	(190,525		)	(185,697		)	(2,227		)	7,225			5,588			(12,461		)
Total funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in regulatory asset
Prior service credit		($10,555	)		$—			$—			($4,141	)		($3,626	)		($13,741	)		($7,723	)
Net loss	94,647			—			—			18,680			12,738			46,453			20,450
		$84,092			$—			$—			$14,539			$9,112			$32,712			$12,727
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($20,967	)		($16,013	)		$—			$—			$—			$—
Net loss	—			66,832			58,072			—			—			—			—
		$—			$45,865			$42,059			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$315,308			$207,987			$220,017			$100,508			$74,200			$142,114			$67,934
Service cost	9,619			7,910			8,541			3,246			1,752			3,760			3,580
Interest cost	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Plan amendments	(11,617		)	(8,705		)	(18,844		)	(4,714		)	(4,469		)	(5,359		)	(4,591		)
Curtailment	4,595			1,637			1,889			616			350			1,498			769
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Actuarial gain	(67,253		)	(40,941		)	(43,747		)	(25,527		)	(13,739		)	(26,048		)	(14,639		)
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Medicare Part D subsidy received	737			410			513			245			194			334			105
Balance at end of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Change in Plan Assets
Fair value of assets at beginning of year		$194,018			$—			$—			$62,951			$58,651			$115,824			$39,474
Actual return on plan assets	30,830			—			—			9,826			8,870			17,905			6,292
Employer contributions	21,015			6,960			9,015			4,785			2,567			4,846			5,387
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Fair value of assets at end of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,803	)		($10,249	)		$—			$—			$—			$—
Non-current liabilities	(19,071		)	(161,499		)	(158,515		)	(1,101		)	8,665			16,200			(4,950		)
Total funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in regulatory asset
Prior service credit		($12,996	)		$—			$—			($5,056	)		($4,335	)		($6,505	)		($4,702	)
Net loss	40,272			—			—			9,304			6,485			22,772			10,297
		$27,276			$—			$—			$4,248			$2,150			$16,267			$5,595
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($10,359	)		($19,390	)		$—			$—			$—			$—
Net loss	—			31,577			35,001			—			—			—			—
		$—			$21,218			$15,611			$—			$—			$—			$—

Non-Qualified Pension Plans

Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  Entergy recognized net periodic pension cost related to these plans of $32.4 million in 2014, $54.5 million in 2013, and $26.5 million in 2012.  In 2014, 2013, and 2012 Entergy recognized $15.1 million, $33 million, and $6.3 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above.  The projected benefit obligation was $151.8 million and $154.3 million as of December 31, 2014 and 2013, respectively.  The accumulated benefit obligation was $130.6 million and $131.4 million as of December 31, 2014 and 2013, respectively.

Entergy’s non-qualified, non-current pension liability at December 31, 2014 and 2013 was $135.6 million and $127.5 million, respectively; and its current liability was $16.2 million and $26.8 million, respectively.  The unamortized prior service cost and net loss are recognized in regulatory assets ($60.3 million at December 31, 2014 and $59.1 million at December 31, 2013) and accumulated other comprehensive income before taxes ($23.5 million at December 31, 2014 and $26.1 million at December 31, 2013).

The Registrant Subsidiaries (except System Energy) participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  The net periodic pension cost for their employees for the non-qualified plans for 2014, 2013, and 2012, was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$754		$130		$5		$190		$95		$491
2013		$448		$151		$12		$192		$92		$1,001
2012		$464		$158		$12		$183		$79		$648

Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2013 net periodic pension cost above are settlement charges of $415 thousand for Entergy Texas related to the lump sum benefits paid out of the plan.  Included in the 2012 net periodic pension cost above are settlement charges of $38 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan.  

The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,495		$2,693		$158		$2,128		$476		$9,567
2013		$4,162		$2,511		$50		$1,752		$434		$7,910

The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,086		$2,693		$131		$1,761		$436		$9,215
2013		$3,765		$2,510		$50		$1,528		$387		$7,496

The following amounts were recorded on the balance sheet as of December 31, 2014 and 2013:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($347	)		($241	)		($18	)		($119	)		($23	)		($753	)
Non-current liabilities	(4,148		)	(2,452		)	(140		)	(2,009		)	(453		)	(8,814		)
Total funded status		($4,495	)		($2,693	)		($158	)		($2,128	)		($476	)		($9,567	)
Regulatory asset/(liability)		$2,368			$659			$37			$942			($65	)		$296
Accumulated other comprehensive income (before taxes)		$—			$98			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($367	)		($262	)		($6	)		($118	)		($20	)		($786	)
Non-current liabilities	(3,795		)	(2,249		)	(44		)	(1,634		)	(414		)	(7,124		)
Total funded status		($4,162	)		($2,511	)		($50	)		($1,752	)		($434	)		($7,910	)
Regulatory asset/(liability)		$1,979			$422			($87	)		$637			($18	)		($1,631	)
Accumulated other comprehensive income (before taxes)		$—			$57			$—			$—			$—			$—

Reclassification out of Accumulated Other Comprehensive Income

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2014:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,559	)		$22,280			($427	)		$20,294
Amortization of loss	(26,934		)	(6,689		)	(2,213		)	(35,836		)
Settlement loss	—			—			(3,643		)	(3,643		)
		($28,493	)		$15,591			($6,283	)		($19,185	)
Entergy Gulf States Louisiana
Amortization of prior service cost		$—			$2,237			$—			$2,237
Amortization of loss	(1,911		)	(1,212		)	(3		)	(3,126		)
		($1,911	)		$1,025			($3	)		($889	)
Entergy Louisiana
Amortization of prior service cost		$—			$3,377			$—			$3,377
Amortization of loss	—			(1,511		)	—			(1,511		)
		$—			$1,866			$—			$1,866

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2013:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,866	)		$12,925			($503	)		$10,556
Acceleration of prior service cost due to curtailment	(1,304		)	1,797			(178		)	315
Amortization of loss	(43,971		)	(21,590		)	(2,569		)	(68,130		)
Settlement loss	—			—			(11,612		)	(11,612		)
		($47,141	)		($6,868	)		($14,862	)		($68,871	)
Entergy Gulf States Louisiana
Amortization of prior service cost		($1	)		$942			$—			$941
Acceleration of prior service cost due to curtailment	—			91			—			91
Amortization of loss	(3,039		)	(4,598		)	(7		)	(7,644		)
		($3,040	)		($3,565	)		($7	)		($6,612	)
Entergy Louisiana
Amortization of prior service cost		$—			$508			$—			$508
Acceleration of prior service cost due to curtailment	—			41			—			41
Amortization of loss	—			(5,050		)	—			(5,050		)
		$—			($4,501	)		$—			($4,501	)

Accounting for Pension and Other Postretirement Benefits

Accounting standards require an employer to recognize in its balance sheet the funded status of its benefit plans.  This is measured as the difference between plan assets at fair value and the benefit obligation.  Entergy uses a December 31 measurement date for its pension and other postretirement plans.  Employers are to record previously unrecognized gains and losses, prior service costs, and any remaining transition asset or obligation (that resulted from adopting prior pension and other postretirement benefits accounting standards) as comprehensive income and/or as a regulatory asset reflective of the recovery mechanism for pension and other postretirement benefit costs in the Registrant Subsidiaries’ respective regulatory jurisdictions.  For the portion of Entergy Gulf States Louisiana that is not regulated, the unrecognized prior service cost, gains and losses, and transition asset/obligation for its pension and other postretirement benefit obligations are recorded as other comprehensive income.  Entergy Gulf States Louisiana and Entergy Louisiana recover other postretirement benefit costs on a pay-as-you-go basis and record the unrecognized prior service cost, gains and losses, and transition obligation for its other postretirement benefit obligation as other comprehensive income.  Accounting standards also require that changes in the funded status be recorded as other comprehensive income and/or a regulatory asset in the period in which the changes occur.

With regard to pension and other postretirement costs, Entergy calculates the expected return on pension and other postretirement benefit plan assets by multiplying the long-term expected rate of return on assets by the market-related value (MRV) of plan assets.  Entergy determines the MRV of pension plan assets by calculating a value that uses a 20-quarter phase-in of the difference between actual and expected returns.  For other postretirement benefit plan assets Entergy uses fair value when determining MRV.

Qualified Pension and Other Postretirement Plans’ Assets

The Plan Administrator’s trust asset investment strategy is to invest the assets in a manner whereby long-term earnings on the assets (plus cash contributions) provide adequate funding for retiree benefit payments.  The mix of assets is based on an optimization study that identifies asset allocation targets in order to achieve the maximum return for an acceptable level of risk, while minimizing the expected contributions and pension and postretirement expense.

In the optimization studies, the Plan Administrator formulates assumptions about characteristics, such as expected asset class investment returns, volatility (risk), and correlation coefficients among the various asset classes.  The future market assumptions used in the optimization study are determined by examining historical market characteristics of the various asset classes and making adjustments to reflect future conditions expected to prevail over the study period.  

The target asset allocation for pension adjusts dynamically based on the pension plans' funded status. The current targets are shown below. The expectation is that the allocation to fixed income securities will increase as the pension plans' funded status increases. The following ranges were established to produce an acceptable, economically efficient plan to manage around the targets. 

The target and range asset allocation for postretirement assets reflects changes made in 2012 as recommended in the latest optimization study.

Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2014 and 2013 and the target asset allocation and ranges are as follows:

Pension Asset Allocation	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	45%	34%	to	53%	45%	46%
International Equity Securities	20%	16%	to	24%	19%	20%
Fixed Income Securities	35%	31%	to	41%	35%	33%
Other	0%	0%	to	10%	1%	1%

Postretirement Asset Allocation	Non-Taxable and Taxable
	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	39%	34%	to	44%	42%	40%
International Equity Securities	26%	21%	to	31%	25%	26%
Fixed Income Securities	35%	30%	to	40%	33%	34%
Other	0%	0%	to	5%	0%	0%

In determining its expected long-term rate of return on plan assets used in the calculation of benefit plan costs, Entergy reviews past performance, current and expected future asset allocations, and capital market assumptions of its investment consultant and some investment managers.

The expected long-term rate of return for the qualified pension plans’ assets is based primarily on the geometric average of the historical annual performance of a representative portfolio weighted by the target asset allocation defined in the table above, along with other indications of expected return on assets. The time period reflected is a long dated period spanning several decades.

The expected long-term rate of return for the non-taxable postretirement trust assets is determined using the same methodology described above for pension assets, but the asset allocation specific to the non-taxable postretirement assets is used.

For the taxable postretirement trust assets, the investment allocation includes tax-exempt fixed income securities.  This asset allocation in combination with the same methodology employed to determine the expected return for other trust assets (as described above), with a modification to reflect applicable taxes, is used to produce the expected long-term rate of return for taxable postretirement trust assets.

Concentrations of Credit Risk

Entergy’s investment guidelines mandate the avoidance of risk concentrations.  Types of concentrations specified to be avoided include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country, geographic area and individual security issuance.  As of December 31, 2014, all investment managers and assets were materially in compliance with the approved investment guidelines, therefore there were no significant concentrations (defined as greater than 10 percent of plan assets) of risk in Entergy’s pension and other postretirement benefit plan assets.

Fair Value Measurements

Accounting standards provide the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).

The three levels of the fair value hierarchy are described below:

• Level 1 - Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date.  Assets are valued based on prices derived by an independent party that uses inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.  Prices are reviewed and can be challenged with the independent parties and/or overridden if it is believed such would be more reflective of fair value.  Level 2 inputs include the following:

-     quoted prices for similar assets or liabilities in active markets;

-     quoted prices for identical assets or liabilities in inactive markets;

-     inputs other than quoted prices that are observable for the asset or liability; or

-     inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If an asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

• Level 3 - Level 3 refers to securities valued based on significant unobservable inputs.

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.  The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2014, and December 31, 2013, a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate.

Qualified Defined Benefit Pension Plan Trusts

Final Average Pay Pension Plans’ Trust

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$10,017	(b)		$—	(a)		$—		$10,017
Common	717,685		(b)	97			—		717,782
Common collective trusts	—			1,886,897		(c)	—		1,886,897
103-12 investment entities	—			259,995		(h)	—		259,995
Fixed income securities:
U.S. Government securities	240		(b)	400,059		(a)	—		400,299
Corporate debt instruments	—			548,788		(a)	—		548,788
Registered investment companies	286,534		(d)	576,641		(e)	—		863,175
Other	—			130,295		(f)	—		130,295
Other:
Insurance company general account (unallocated contracts)	—			37,818		(g)	—		37,818
Total investments		$1,014,476			$3,840,590			$—		$4,855,066
Cash									314
Other pending transactions									7,359
Less: Other postretirement assets included in total investments									(34,954		)
Total fair value of qualified pension assets										$4,827,785

Cash Balance Pension Plans’ Trust

The Cash Balance pension plans’ trust held $181 thousand of cash as of December 31, 2014.

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$6,847	(b)		$6,038	(a)		$—		$12,885
Common	915,996		(b)	—			—		915,996
Common collective trusts	—			1,753,958		(c)	—		1,753,958
Fixed income securities:
U.S. Government securities	180,718		(b)	152,915		(a)	—		333,633
Corporate debt instruments	—			464,652		(a)	—		464,652
Registered investment companies	316,863		(d)	486,748		(e)	—		803,611
Other	—			129,169		(f)	—		129,169
Other:
Insurance company general account (unallocated contracts)	—			36,886		(g)	—		36,886
Total investments		$1,420,424			$3,030,366			$—		$4,450,790
Cash									280
Other pending transactions									8,081
Less: Other postretirement assets included in total investments									(29,914		)
Total fair value of qualified    pension assets										$4,429,237

Other Postretirement Trusts

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$370,228	(c)		$—		$370,228
Fixed income securities:
U.S. Government securities	36,306		(b)	45,618		(a)	—		81,924
Corporate debt instruments	—			57,830		(a)	—		57,830
Registered investment companies	5,558		(d)	—			—		5,558
Other	—			46,968		(f)	—		46,968
Total investments		$41,864			$520,644			$—		$562,508
Other pending transactions									165
Plus:  Other postretirement assets included in the investments of the qualified pension trust									34,954
Total fair value of other postretirement assets										$597,627

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$356,700	(c)		$—		$356,700
Fixed income securities:
U.S. Government securities	40,808		(b)	43,471		(a)	—		84,279
Corporate debt instruments	—			50,563		(a)	—		50,563
Registered investment companies	4,163		(d)	—			—		4,163
Other	—			43,458		(f)	—		43,458
Total investments		$44,971			$494,192			$—		$539,163
Other pending transactions									773
Plus:  Other postretirement assets included in the investments of the qualified pension trust									29,914
Total fair value of other postretirement assets										$569,850

(a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes.

(b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices.

(c) The common collective trusts hold investments in accordance with stated objectives.  The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index.  Net asset value per share of the common collective trusts estimate fair value.

(d) The registered investment company is a money market mutual fund with a stable net asset value of one dollar per share.

(e) The registered investment company holds investments in domestic and international bond markets and estimates fair value using net asset value per share.

(f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes.

(g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value.  The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust.

(h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. Net asset value per share of the 103-12 investment entities estimate fair value.

Accumulated Pension Benefit Obligation

The accumulated benefit obligation for Entergy’s qualified pension plans was $6.6 billion and $5.2 billion at December 31, 2014 and 2013, respectively.

The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2014 and 2013 was as follows:

	December 31,
	2014		2013
	(In Thousands)
Entergy Arkansas		$1,379,108		$1,107,023
Entergy Gulf States Louisiana		$649,932		$530,974
Entergy Louisiana		$873,759		$697,945
Entergy Mississippi		$399,300		$318,941
Entergy New Orleans		$186,473		$150,239
Entergy Texas		$391,296		$332,484
System Energy		$305,556		$247,807

Estimated Future Benefit Payments

Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2014, and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows:

	Estimated Future Benefits Payments
	Qualified Pension		Non-Qualified Pension		Other Postretirement (before Medicare Subsidy)		Estimated Future Medicare Subsidy Receipts
	(In Thousands)
Year(s)
2015		$262,792		$16,173		$78,601		$455
2016		$277,307		$9,976		$80,601		$525
2017		$292,841		$10,774		$83,425		$595
2018		$310,200		$12,598		$88,049		$1,785
2019		$328,533		$11,431		$92,253		$1,984
2020 - 2024		$1,966,776		$70,791		$506,086		$13,539

Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows:

Estimated Future Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$66,156		$25,450		$37,892		$18,702		$7,397		$19,078		$11,432
2016		$67,639		$26,805		$39,070		$19,625		$7,836		$19,697		$11,949
2017		$69,207		$28,340		$40,675		$20,517		$8,304		$20,558		$12,357
2018		$71,306		$30,279		$42,336		$21,444		$8,895		$21,448		$12,977
2019		$73,795		$32,445		$44,058		$22,306		$9,368		$22,291		$13,724
2020 - 2024		$418,009		$196,323		$256,639		$125,761		$56,659		$125,001		$87,663

Estimated Future Non-Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
Year(s)
2015		$347		$241		$18		$119		$23		$753
2016		$300		$228		$17		$115		$23		$837
2017		$291		$241		$16		$124		$23		$784
2018		$282		$205		$15		$114		$23		$749
2019		$339		$199		$17		$112		$46		$720
2020 - 2024		$2,684		$924		$90		$825		$199		$3,442

Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy)	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$15,699		$8,921		$9,885		$3,926		$4,261		$6,617		$2,796
2016		$15,745		$9,219		$10,016		$4,001		$4,253		$6,785		$2,802
2017		$15,830		$9,580		$10,148		$4,125		$4,280		$7,012		$2,883
2018		$16,305		$10,110		$10,654		$4,433		$4,373		$7,438		$2,984
2019		$16,528		$10,706		$11,048		$4,599		$4,412		$7,771		$3,138
2020 - 2024		$86,854		$59,199		$60,735		$25,341		$21,584		$41,303		$17,664

Estimated Future Medicare Part D Subsidy	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$77		$37		$45		$29		$23		$34		$9
2016		$87		$41		$50		$32		$24		$37		$11
2017		$96		$46		$56		$34		$25		$40		$1
2018		$358		$168		$204		$125		$87		$142		$52
2019		$398		$184		$223		$136		$90		$151		$59
2020 - 2024		$2,593		$1,243		$1,434		$839		$506		$922		$456

Contributions

Entergy currently expects to contribute approximately $396 million to its qualified pension plans and approximately $66.9 million to other postretirement plans in 2015.  The expected 2015 pension and other postretirement plan contributions of the Registrant Subsidiaries for their employees are shown below.  The required pension contributions will not be known with more certainty until the January 1, 2015 valuations are completed by April 1, 2015.

The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2015:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Pension Contributions		$92,523		$32,455		$56,960		$22,472		$10,910		$17,166		$20,778
Other Postretirement Contributions		$16,904		$8,921		$9,885		$535		$3,669		$3,231		$475

Actuarial Assumptions

The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2014, and 2013 were as follows:

	2014	2013
Weighted-average discount rate:
Qualified pension	4.03% - 4.40% Blended 4.27%	5.04% - 5.26% Blended 5.14%
Other postretirement	4.23%	5.05%
Non-qualified pension	3.61%	4.29%
Weighted-average rate of increase in future compensation levels	4.23%	4.23%
Assumed health care trend rate:
Pre-65	7.10%	7.25%
Post-65	7.70%	7.00%
Ultimate rate	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2023	2022
Post-65	2023	2022

The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2014,  2013, and 2012 were as follows:

	2014	2013	2012
Weighted-average discount rate:
Qualified pension	5.04%-5.26% Blended 5.14%	4.31% - 4.5% Blended 4.36%	5.10% - 5.20% Blended 5.11%
Other postretirement	5.05%	4.36%	5.10%
Non-qualified pension	4.29%	3.37%	4.40%
Weighted-average rate of increase   in future compensation levels	4.23%	4.23%	4.23%
Expected long-term rate of   return on plan assets:
Pension assets	8.50%	8.50%	8.50%
Other postretirement tax deferred assets	8.30%	8.50%	8.50%
Other postretirement taxable assets	6.50%	6.50%	6.50%
Assumed health care trend rate:
Pre-65	7.25%	7.50%	7.75%
Post-65	7.00%	7.25%	7.50%
Ultimate rate	4.75%	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2022	2022	2022
Post-65	2022	2022	2022

Entergy’s other postretirement benefit transition obligations were amortized over 20 years ending in 2012.

With respect to mortality assumptions, Entergy used the RP-2014 Employee and Health Annuitant Tables, with a fully generational MP-2014 projection scale, in determining its December 31, 2014 pension plans’ PBOs and other postretirement benefit APBO. The mortality assumptions used in determining Entergy’s December 31, 2013 pension plans’ PBOs were the 1994 Group Annuity Mortality Table and RP 2000 Combined Health Mortality, with generational (using Scale AA) projected mortality improvement. The mortality assumption used in determining the December 31, 2013 other postretirement APBO was the 1994 Group Annuity Mortality Table, with generational (using Scale AA) projected mortality improvement.

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects: 

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase /(Decrease) (In Thousands)
Entergy Corporation and its   subsidiaries		$234,971		$16,769		($190,996	)		($13,566	)

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects for the Registrant Subsidiaries for their employees:

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase/(Decrease) (In Thousands)
Entergy Arkansas		$39,286		$2,448		($31,753	)		($1,971	)
Entergy Gulf States Louisiana		$27,929		$2,092		($22,591	)		($1,671	)
Entergy Louisiana		$23,779		$1,681		($19,452	)		($1,366	)
Entergy Mississippi		$10,596		$754		($8,596	)		($606	)
Entergy New Orleans		$6,373		$386		($5,317	)		($321	)
Entergy Texas		$16,246		$1,148		($13,397	)		($927	)
System Energy		$8,716		$734		($7,044	)		($586	)

Defined Contribution Plans

Entergy sponsors the Savings Plan of Entergy Corporation and Subsidiaries (System Savings Plan).  The System Savings Plan is a defined contribution plan covering eligible employees of Entergy and certain of its subsidiaries. The participating employing Entergy subsidiary makes matching contributions to the System Savings Plan for all eligible participating employees in an amount equal to either 70% or 100% of the participants’ basic contributions, up to 6% of their eligible earnings per pay period.  The matching contribution is allocated to investments as directed by the employee.

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 $43.3 million in 2014, $44.5 million in 2013, and $43.7 million in 2012.  The majority of the contributions were to the System Savings Plan.

The Registrant Subsidiaries’ 2014, 2013, and 2012 contributions to defined contribution plans for their employees were as follows:

Year	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$3,044		$1,867		$2,266		$1,855		$710		$1,563
2013		$3,351		$1,906		$2,393		$1,954		$769		$1,616
2012		$3,223		$1,842		$2,327		$1,875		$740		$1,601

Entergy Arkansas [Member]

Retirement And Other Postretirement Benefits

RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS  (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Qualified Pension Plans

Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment.  The “Entergy Corporation Retirement Plan III” is a final average pay plan that provides pension benefits that are based on employees’ credited service and compensation during the final years before retirement and includes a mandatory employee contribution of 3% of earnings during the first 10 years of plan participation, and allows voluntary contributions from 1% to 10% of earnings for a limited group of employees. Non-bargaining employees hired or rehired after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.”

The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy and the assets of the two cash balance pension plans are held in a second master trust established by Entergy.  Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee.  Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes.  Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust.  The fair value of the trusts’ assets is determined by the trustee and certain investment managers.  For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis.

Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly.  Assets for each Registrant Subsidiary are increased for investment income and contributions, and are decreased for benefit payments.  A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter.

Entergy Corporation and its subsidiaries fund pension costs in accordance with contribution guidelines established by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended.  The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts.  The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions.

Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI)

Entergy Corporation and its subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components:

	2014			2013			2012
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$140,436			$172,280			$150,763
Interest cost on projected benefit obligation	290,076			263,296			260,929
Expected return on assets	(361,462		)	(328,227		)	(317,423		)
Amortization of prior service cost	1,600			2,125			2,733
Recognized net loss	145,095			213,194			167,279
Curtailment loss	—			16,318			—
Special termination benefit	732			13,139			—
Net periodic pension costs		$216,477			$352,125			$264,281
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net (gain)/loss		$1,389,912			($894,150	)		$552,303
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(1,600		)	(2,125		)	(2,733		)
Acceleration of prior service cost to curtailment	—			(1,307		)	—
Amortization of net loss	(145,095		)	(213,194		)	(167,279		)
Total	1,243,217			(1,110,776		)	382,291
Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax)		$1,459,694			($758,651	)		$646,572
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year:
Prior service cost		$1,561			$1,600			$2,268
Net loss		$237,013			$146,958			$219,805

The Registrant Subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States  Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$20,090			$11,524			$14,182			$6,094			$2,666			$5,142			$5,785
Interest cost on projected benefit obligation	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Expected return on assets	(73,218		)	(37,950		)	(45,796		)	(22,794		)	(10,019		)	(23,723		)	(16,619		)
Amortization of prior service cost	—			—			—			—			—			—			2
Recognized net loss	35,956			15,923			24,523			9,415			5,796			9,356			9,500
Net pension cost		$42,365			$18,611			$30,779			$9,988			$6,607			$8,521			$12,229
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$300,907			$125,090			$193,842			$88,199			$38,161			$65,363			$60,763
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	—			—			—			—			—			—			(2		)
Amortization of net loss	(35,956		)	(15,923		)	(24,523		)	(9,415		)	(5,796		)	(9,356		)	(9,500		)
Total		$264,951			$109,167			$169,319			$78,784			$32,365			$56,007			$51,261
Total recognized as net periodic pension income regulatory asset, and/or AOCI (before tax)		$307,316			$127,778			$200,098			$88,772			$38,972			$64,528			$63,490
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Net loss		$54,254			$23,098			$36,704			$14,896			$8,053			$12,950			$13,055

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$25,229			$14,258			$17,044			$7,295			$3,264			$6,475			$7,242
Interest cost on projected benefit obligation	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Expected return on assets	(66,951		)	(34,982		)	(41,948		)	(21,139		)	(9,117		)	(22,277		)	(17,249		)
Amortization of prior service cost	23			9			83			10			2			6			9
Recognized net loss	49,517			23,374			34,107			13,189			7,878			13,302			9,560
Curtailment loss	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Net pension cost		$69,013			$31,013			$49,316			$16,283			$10,413			$16,223			$13,702
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net gain		($177,105	)		($98,610	)		($123,234	)		($52,525	)		($25,419	)		($55,772	)		($35,511	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(23		)	(9		)	(83		)	(10		)	(2		)	(6		)	(9		)
Amortization of net loss	(49,517		)	(23,374		)	(34,107		)	(13,189		)	(7,878		)	(13,302		)	(9,560		)
Total		($226,645	)		($121,993	)		($157,424	)		($65,724	)		($33,299	)		($69,080	)		($45,080	)
Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax)		($157,632	)		($90,980	)		($108,108	)		($49,441	)		($22,886	)		($52,857	)		($31,378	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$—			$—			$—			$—			$—			$—			$2
Net loss		$35,984			$15,935			$24,360			$9,421			$5,802			$9,363			$9,510

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$22,169			$12,273			$14,675			$6,410			$2,824			$5,684			$5,920
Interest cost on projected benefit obligation	55,686			25,679			35,201			16,279			7,608			16,823			12,987
Expected return on assets	(65,763		)	(34,370		)	(40,836		)	(20,945		)	(8,860		)	(22,325		)	(16,436		)
Amortization of prior service cost	200			19			208			30			7			15			13
Recognized net loss	40,772			16,173			28,197			10,532			6,878			10,179			9,001
Net pension cost		$53,064			$19,774			$37,445			$12,306			$8,457			$10,376			$11,485
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$105,133			$77,207			$76,163			$27,106			$14,282			$28,745			$10,266
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(200		)	(19		)	(208		)	(30		)	(7		)	(15		)	(13		)
Amortization of net loss	(40,772		)	(16,173		)	(28,197		)	(10,532		)	(6,878		)	(10,179		)	(9,001		)
Total		$64,161			$61,015			$47,758			$16,544			$7,397			$18,551			$1,252
Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax)		$117,225			$80,789			$85,203			$28,850			$15,854			$28,927			$12,737
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$23			$9			$83			$10			$2			$6			$10
Net loss		$50,175			$23,731			$34,906			$13,375			$8,046			$13,494			$9,717

Qualified PensionObligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet for Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$5,770,999			$6,096,639
Service cost	140,436			172,280
Interest cost	290,076			263,296
Curtailment	—			15,011
Special termination benefit	732			13,139
Actuarial loss/(gain)	1,284,049			(571,990		)
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Balance at end of year		$7,230,542			$5,770,999
Change in Plan Assets
Fair value of assets at beginning of year		$4,429,237			$3,832,860
Actual return on plan assets	255,599			650,386
Employer contributions	398,880			163,367
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Fair value of assets at end of year		$4,827,966			$4,429,237
Funded status		($2,402,576	)		($1,341,762	)
Amount recognized in the balance sheet
Non-current liabilities		($2,402,576	)		($1,341,762	)
Amount recognized as a regulatory asset
Prior service cost		$3,704			$5,027
Net loss	2,451,172			1,494,117
		$2,454,876			$1,499,144
Amount recognized as AOCI (before tax)
Prior service cost		$1,015			$1,292
Net loss	671,682			383,920
		$672,697			$385,212

Qualified Pension Obligations, Plan Assets, Funded Status, and Amounts Recognized in the Balance Sheet for the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Service cost	20,090			11,524			14,182			6,094			2,666			5,142			5,785
Interest cost	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Actuarial loss	279,781			113,883			180,763			81,600			35,131			58,556			55,410
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Balance at end of year		$1,485,718			$709,994			$956,541			$432,169			$202,555			$418,498			$334,312
Change in Plan Assets
Fair value of assets at beginning of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Actual return on plan assets	52,092			26,744			32,716			16,196			6,988			16,916			11,265
Employer contributions	95,464			30,176			54,549			21,839			10,509			17,072			21,261
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Fair value of assets at end of year		$977,521			$501,826			$611,533			$301,250			$133,344			$310,713			$217,621
Funded status		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized as  regulatory asset
Net loss		$722,119			$272,695			$468,779			$198,972			$102,141			$176,522			$172,463
Amounts recognized as AOCI (before tax)
Net loss		$—			$40,748			$—			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,274,886			$623,068			$817,745			$369,852			$174,585			$382,176			$282,841
Service cost	25,229			14,258			17,044			7,295			3,264			6,475			7,242
Interest cost	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Curtailment	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Actuarial gain	(110,943		)	(64,119		)	(80,794		)	(31,684		)	(16,276		)	(33,792		)	(23,882		)
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Balance at end of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Change in Plan Assets
Fair value of assets at beginning of year		$785,527			$409,971			$489,027			$248,272			$106,778			$262,110			$168,697
Actual return on plan assets	133,113			69,473			84,388			41,980			18,259			44,257			28,878
Employer contributions	35,382			11,550			21,152			8,152			4,175			6,880			8,305
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Fair value of assets at end of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Funded status		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized as  regulatory asset
Prior service cost		$—			$—			($1	)		$—			$—			$—			($4	)
Net loss	457,485			178,990			299,740			120,290			69,856			120,619			121,327
		$457,485			$178,990			$299,739			$120,290			$69,856			$120,619			$121,323
Amounts recognized as AOCI  (before tax)
Net loss		$—			$25,437			$—			$—			$—			$—			$—

Other Postretirement Benefits

Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees.  Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits.

In December 2013, Entergy announced changes to its other postretirement benefits which include, among other things, elimination of other postretirement benefits for all non-bargaining employees hired or rehired after June 30, 2014 and for certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreement, and setting a dollar limit cap on Entergy’s contribution to retiree medical costs, effective 2019 for those non-bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 and for certain bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 or such later date as provided for in their applicable collective bargaining agreement. In accordance with accounting standards, certain of the other postretirement benefit changes have been reflected in the December 31, 2013 other postretirement obligation. The changes affecting active bargaining unit employees are being negotiated with the unions prior to implementation, where necessary, and to the extent required by law.

Entergy uses a December 31 measurement date for its postretirement benefit plans.

Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions.  At January 1, 1993, the actuarially determined accumulated postretirement benefit obligation (APBO) earned by retirees and active employees was estimated to be approximately $241.4 million for Entergy (other than the former Entergy Gulf States) and $128 million for the former Entergy Gulf States (now split into Entergy Gulf States Louisiana and Entergy Texas).  Such obligations were being amortized over a 20-year period that began in 1993 and ended in 2012.  For the most part, the Registrant Subsidiaries recover accrued other postretirement benefit costs from customers and are required to contribute the other postretirement benefits collected in rates to an external trust.

Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates.  Entergy Arkansas began recovery in 1998, pursuant to an APSC order.  This order also allowed Entergy Arkansas to amortize a regulatory asset (representing the difference between other postretirement benefit costs and cash expenditures for other postretirement benefits incurred from 1993 through 1997) over a 15-year period that began in January 1998 and ended in December 2012.

The LPSC ordered Entergy Gulf States Louisiana and Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions.  However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted.

Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts.  System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf.

Trust assets contributed by participating Registrant Subsidiaries are in bank-administered master trusts, established by Entergy Corporation and maintained by a trustee.  Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets.  The assets in the master trusts are commingled for investment and administrative purposes.  Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses.  Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts.

Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI

Entergy Corporation’s and its subsidiaries’ total 2014, 2013, and 2012 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components:

	2014			2013			2012
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$43,493			$74,654			$68,883
Interest cost on APBO	71,841			79,453			82,561
Expected return on assets	(44,787		)	(40,323		)	(34,503		)
Amortization of transition obligation	—			—			3,177
Amortization of prior service credit	(31,590		)	(14,904		)	(18,163		)
Recognized net loss	11,143			44,178			36,448
Curtailment loss	—			12,729			—
Net other postretirement benefit cost		$50,100			$155,787			$138,403
Other changes in plan assets and benefit  obligations recognized as a regulatory asset  and /or AOCI (before tax)
Arising this period:
Prior service credit for period		($35,864	)		($116,571	)		$—
Net loss/(gain)	287,313			(405,976		)	92,584
Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year:
Amortization of transition obligation	—			—			(3,177		)
Amortization of prior service credit	31,590			14,904			18,163
Acceleration of prior service credit due to curtailment	—			1,989			—
Amortization of net loss	(11,143		)	(44,178		)	(36,448		)
Total		$271,896			($549,832	)		$71,122
Total recognized as net periodic benefit income/(cost),  regulatory asset, and/or AOCI (before tax)		$321,996			($394,045	)		$209,525
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic  benefit cost  in the following year
Prior service credit		($37,280	)		($31,589	)		($13,336	)
Net loss		$31,591			$11,197			$45,217

Total 2014, 2013, and 2012 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$5,957			$4,896			$4,518			$1,900			$868			$2,378			$2,058
Interest cost on APBO	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Expected return on assets	(19,135		)	—			—			(5,771		)	(4,475		)	(10,358		)	(3,727		)
Amortization of prior credit	(2,441		)	(2,237		)	(3,377		)	(915		)	(709		)	(1,300		)	(824		)
Recognized net loss	1,267			1,212			1,511			149			56			801			443
Net other postretirement benefit (income)/cost		($2,091	)		$12,249			$10,916			($982	)		($1,455	)		($2,827	)		$561
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		$—			($12,845	)		$—			$—			$—			($8,536	)		($3,845	)
Net loss		$55,642			$36,467			$24,582			$9,525			$6,309			$24,482			$10,596
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	2,441			2,237			3,377			915			709			1,300			824
Amortization of net loss	(1,267		)	(1,212		)	(1,511		)	(149		)	(56		)	(801		)	(443		)
Total		$56,816			$24,647			$26,448			$10,291			$6,962			$16,445			$7,132
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$54,725			$36,896			$37,364			$9,309			$5,507			$13,618			$7,693
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($4,086	)		($3,381	)		($916	)		($709	)		($2,723	)		($1,465	)
Net loss		$5,356			$3,908			$3,210			$860			$470			$2,740			$1,198

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,619			$7,910			$8,541			$3,246			$1,752			$3,760			$3,580
Interest cost on APBO	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Expected return on assets	(16,843		)	—			—			(5,335		)	(4,101		)	(9,391		)	(3,350		)
Amortization of prior credit	(689		)	(942		)	(508		)	(204		)	(24		)	(501		)	(126		)
Recognized net loss	7,976			4,598			5,050			2,534			1,509			3,744			1,896
Curtailment loss	4,517			1,546			1,848			596			354			1,436			760
Net other postretirement benefit cost		$18,125			$22,076			$24,341			$5,126			$2,625			$5,124			$5,705
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		($11,617	)		($8,705	)		($18,844	)		($4,714	)		($4,469	)		($5,359	)		($4,591	)
Net loss		($81,236	)		($40,938	)		($43,743	)		($30,018	)		($18,508	)		($34,562	)		($17,579	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	689			942			508			204			24			501			126
Acceleration of prior service credit/(cost) due to curtailment	78			91			41			20			(4		)	62			9
Amortization of net loss	(7,976		)	(4,598		)	(5,050		)	(2,534		)	(1,509		)	(3,744		)	(1,896		)
Total		($100,062	)		($53,208	)		($67,088	)		($37,042	)		($24,466	)		($43,102	)		($23,931	)
Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax)		($81,937	)		($31,132	)		($42,747	)		($31,916	)		($21,841	)		($37,978	)		($18,226	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($2,236	)		($3,376	)		($918	)		($709	)		($1,301	)		($824	)
Net loss		$1,267			$1,212			$1,511			$149			$56			$800			$464

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,089			$7,521			$7,796			$3,093			$1,689			$3,651			$3,293
Interest cost on APBO	14,452			9,590			9,781			4,716			3,422			6,650			3,028
Expected return on assets	(14,029		)	—			—			(4,521		)	(3,711		)	(8,415		)	(2,601		)
Amortization of transition obligation	820			238			382			351			1,189			187			8
Amortization of prior service cost/(credit)	(530		)	(824		)	(247		)	(139		)	38			(428		)	(63		)
Recognized net loss	8,305			4,737			4,359			2,920			1,559			4,320			1,970
Net other postretirement benefit cost		$18,107			$21,262			$22,071			$6,420			$4,186			$5,965			$5,635
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$9,066			$5,818			$16,215			$271			$2,260			$191			$2,043
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of transition obligation	(820		)	(238		)	(382		)	(351		)	(1,189		)	(187		)	(8		)
Amortization of prior service (cost)/credit	530			824			247			139			(38		)	428			63
Amortization of net loss	(8,305		)	(4,737		)	(4,359		)	(2,920		)	(1,559		)	(4,320		)	(1,970		)
Total		$471			$1,667			$11,721			($2,861	)		($526	)		($3,888	)		$128
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$18,578			$22,929			$33,792			$3,559			$3,660			$2,077			$5,763
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service cost/(credit)		($530	)		($824	)		($247	)		($139	)		$38			($428	)		($62	)
Net loss		$8,163			$4,693			$5,149			$2,650			$1,587			$3,905			$1,915

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet of Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in APBO
Balance at beginning of year		$1,461,910			$1,846,922
Service cost	43,493			74,654
Interest cost	71,841			79,453
Plan amendments	(35,864		)	(116,571		)
Curtailment	—			14,718
Plan participant contributions	22,160			19,141
Actuarial loss/(gain)	274,061			(370,004		)
Benefits paid	(102,439		)	(89,713		)
Medicare Part D subsidy received	4,395			3,310
Balance at end of year		$1,739,557			$1,461,910
Change in Plan Assets
Fair value of assets at beginning of year		$569,850			$488,448
Actual return on plan assets	31,535			76,314
Employer contributions	76,521			75,660
Plan participant contributions	22,160			19,141
Benefits paid	(102,439		)	(89,713		)
Fair value of assets at end of year		$597,627			$569,850
Funded status		($1,141,930	)		($892,060	)
Amounts recognized in the balance sheet
Current liabilities		($41,821	)		($40,602	)
Non-current liabilities	(1,100,109		)	(851,458		)
Total funded status		($1,141,930	)		($892,060	)
Amounts recognized as a regulatory asset
Prior service credit		($54,508	)		($93,332	)
Net loss	248,918			165,270
		$194,410			$71,938
Amounts recognized as AOCI (before tax)
Prior service credit		($104,086	)		($60,988	)
Net loss	300,518			107,996
		$196,432			$47,008

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Service cost	5,957			4,896			4,518			1,900			868			2,378			2,058
Interest cost	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Plan amendments	—			(12,845		)	—			—			—			(8,536		)	(3,845		)
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Actuarial loss	49,573			36,467			24,582			7,939			5,097			21,471			9,524
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Medicare Part D subsidy received	980			520			654			322			222			440			152
Balance at end of year		$303,716			$199,409			$195,537			$83,162			$63,779			$130,145			$60,754
Change in Plan Assets
Fair value of assets at beginning of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Actual return on plan assets	13,066			—			—			4,185			3,263			7,347			2,655
Employer contributions	15,251			8,309			11,245			8,505			4,289			3,446			334
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Fair value of assets at end of year		$244,191			$—			$—			$80,935			$71,004			$135,733			$48,293
Funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,884	)		($9,840	)		$—			$—			$—			$—
Non-current liabilities	(59,525		)	(190,525		)	(185,697		)	(2,227		)	7,225			5,588			(12,461		)
Total funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in regulatory asset
Prior service credit		($10,555	)		$—			$—			($4,141	)		($3,626	)		($13,741	)		($7,723	)
Net loss	94,647			—			—			18,680			12,738			46,453			20,450
		$84,092			$—			$—			$14,539			$9,112			$32,712			$12,727
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($20,967	)		($16,013	)		$—			$—			$—			$—
Net loss	—			66,832			58,072			—			—			—			—
		$—			$45,865			$42,059			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$315,308			$207,987			$220,017			$100,508			$74,200			$142,114			$67,934
Service cost	9,619			7,910			8,541			3,246			1,752			3,760			3,580
Interest cost	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Plan amendments	(11,617		)	(8,705		)	(18,844		)	(4,714		)	(4,469		)	(5,359		)	(4,591		)
Curtailment	4,595			1,637			1,889			616			350			1,498			769
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Actuarial gain	(67,253		)	(40,941		)	(43,747		)	(25,527		)	(13,739		)	(26,048		)	(14,639		)
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Medicare Part D subsidy received	737			410			513			245			194			334			105
Balance at end of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Change in Plan Assets
Fair value of assets at beginning of year		$194,018			$—			$—			$62,951			$58,651			$115,824			$39,474
Actual return on plan assets	30,830			—			—			9,826			8,870			17,905			6,292
Employer contributions	21,015			6,960			9,015			4,785			2,567			4,846			5,387
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Fair value of assets at end of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,803	)		($10,249	)		$—			$—			$—			$—
Non-current liabilities	(19,071		)	(161,499		)	(158,515		)	(1,101		)	8,665			16,200			(4,950		)
Total funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in regulatory asset
Prior service credit		($12,996	)		$—			$—			($5,056	)		($4,335	)		($6,505	)		($4,702	)
Net loss	40,272			—			—			9,304			6,485			22,772			10,297
		$27,276			$—			$—			$4,248			$2,150			$16,267			$5,595
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($10,359	)		($19,390	)		$—			$—			$—			$—
Net loss	—			31,577			35,001			—			—			—			—
		$—			$21,218			$15,611			$—			$—			$—			$—

Non-Qualified Pension Plans

Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  Entergy recognized net periodic pension cost related to these plans of $32.4 million in 2014, $54.5 million in 2013, and $26.5 million in 2012.  In 2014, 2013, and 2012 Entergy recognized $15.1 million, $33 million, and $6.3 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above.  The projected benefit obligation was $151.8 million and $154.3 million as of December 31, 2014 and 2013, respectively.  The accumulated benefit obligation was $130.6 million and $131.4 million as of December 31, 2014 and 2013, respectively.

Entergy’s non-qualified, non-current pension liability at December 31, 2014 and 2013 was $135.6 million and $127.5 million, respectively; and its current liability was $16.2 million and $26.8 million, respectively.  The unamortized prior service cost and net loss are recognized in regulatory assets ($60.3 million at December 31, 2014 and $59.1 million at December 31, 2013) and accumulated other comprehensive income before taxes ($23.5 million at December 31, 2014 and $26.1 million at December 31, 2013).

The Registrant Subsidiaries (except System Energy) participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  The net periodic pension cost for their employees for the non-qualified plans for 2014, 2013, and 2012, was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$754		$130		$5		$190		$95		$491
2013		$448		$151		$12		$192		$92		$1,001
2012		$464		$158		$12		$183		$79		$648

Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2013 net periodic pension cost above are settlement charges of $415 thousand for Entergy Texas related to the lump sum benefits paid out of the plan.  Included in the 2012 net periodic pension cost above are settlement charges of $38 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan.  

The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,495		$2,693		$158		$2,128		$476		$9,567
2013		$4,162		$2,511		$50		$1,752		$434		$7,910

The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,086		$2,693		$131		$1,761		$436		$9,215
2013		$3,765		$2,510		$50		$1,528		$387		$7,496

The following amounts were recorded on the balance sheet as of December 31, 2014 and 2013:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($347	)		($241	)		($18	)		($119	)		($23	)		($753	)
Non-current liabilities	(4,148		)	(2,452		)	(140		)	(2,009		)	(453		)	(8,814		)
Total funded status		($4,495	)		($2,693	)		($158	)		($2,128	)		($476	)		($9,567	)
Regulatory asset/(liability)		$2,368			$659			$37			$942			($65	)		$296
Accumulated other comprehensive income (before taxes)		$—			$98			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($367	)		($262	)		($6	)		($118	)		($20	)		($786	)
Non-current liabilities	(3,795		)	(2,249		)	(44		)	(1,634		)	(414		)	(7,124		)
Total funded status		($4,162	)		($2,511	)		($50	)		($1,752	)		($434	)		($7,910	)
Regulatory asset/(liability)		$1,979			$422			($87	)		$637			($18	)		($1,631	)
Accumulated other comprehensive income (before taxes)		$—			$57			$—			$—			$—			$—

Reclassification out of Accumulated Other Comprehensive Income

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2014:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,559	)		$22,280			($427	)		$20,294
Amortization of loss	(26,934		)	(6,689		)	(2,213		)	(35,836		)
Settlement loss	—			—			(3,643		)	(3,643		)
		($28,493	)		$15,591			($6,283	)		($19,185	)
Entergy Gulf States Louisiana
Amortization of prior service cost		$—			$2,237			$—			$2,237
Amortization of loss	(1,911		)	(1,212		)	(3		)	(3,126		)
		($1,911	)		$1,025			($3	)		($889	)
Entergy Louisiana
Amortization of prior service cost		$—			$3,377			$—			$3,377
Amortization of loss	—			(1,511		)	—			(1,511		)
		$—			$1,866			$—			$1,866

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2013:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,866	)		$12,925			($503	)		$10,556
Acceleration of prior service cost due to curtailment	(1,304		)	1,797			(178		)	315
Amortization of loss	(43,971		)	(21,590		)	(2,569		)	(68,130		)
Settlement loss	—			—			(11,612		)	(11,612		)
		($47,141	)		($6,868	)		($14,862	)		($68,871	)
Entergy Gulf States Louisiana
Amortization of prior service cost		($1	)		$942			$—			$941
Acceleration of prior service cost due to curtailment	—			91			—			91
Amortization of loss	(3,039		)	(4,598		)	(7		)	(7,644		)
		($3,040	)		($3,565	)		($7	)		($6,612	)
Entergy Louisiana
Amortization of prior service cost		$—			$508			$—			$508
Acceleration of prior service cost due to curtailment	—			41			—			41
Amortization of loss	—			(5,050		)	—			(5,050		)
		$—			($4,501	)		$—			($4,501	)

Accounting for Pension and Other Postretirement Benefits

Accounting standards require an employer to recognize in its balance sheet the funded status of its benefit plans.  This is measured as the difference between plan assets at fair value and the benefit obligation.  Entergy uses a December 31 measurement date for its pension and other postretirement plans.  Employers are to record previously unrecognized gains and losses, prior service costs, and any remaining transition asset or obligation (that resulted from adopting prior pension and other postretirement benefits accounting standards) as comprehensive income and/or as a regulatory asset reflective of the recovery mechanism for pension and other postretirement benefit costs in the Registrant Subsidiaries’ respective regulatory jurisdictions.  For the portion of Entergy Gulf States Louisiana that is not regulated, the unrecognized prior service cost, gains and losses, and transition asset/obligation for its pension and other postretirement benefit obligations are recorded as other comprehensive income.  Entergy Gulf States Louisiana and Entergy Louisiana recover other postretirement benefit costs on a pay-as-you-go basis and record the unrecognized prior service cost, gains and losses, and transition obligation for its other postretirement benefit obligation as other comprehensive income.  Accounting standards also require that changes in the funded status be recorded as other comprehensive income and/or a regulatory asset in the period in which the changes occur.

With regard to pension and other postretirement costs, Entergy calculates the expected return on pension and other postretirement benefit plan assets by multiplying the long-term expected rate of return on assets by the market-related value (MRV) of plan assets.  Entergy determines the MRV of pension plan assets by calculating a value that uses a 20-quarter phase-in of the difference between actual and expected returns.  For other postretirement benefit plan assets Entergy uses fair value when determining MRV.

Qualified Pension and Other Postretirement Plans’ Assets

The Plan Administrator’s trust asset investment strategy is to invest the assets in a manner whereby long-term earnings on the assets (plus cash contributions) provide adequate funding for retiree benefit payments.  The mix of assets is based on an optimization study that identifies asset allocation targets in order to achieve the maximum return for an acceptable level of risk, while minimizing the expected contributions and pension and postretirement expense.

In the optimization studies, the Plan Administrator formulates assumptions about characteristics, such as expected asset class investment returns, volatility (risk), and correlation coefficients among the various asset classes.  The future market assumptions used in the optimization study are determined by examining historical market characteristics of the various asset classes and making adjustments to reflect future conditions expected to prevail over the study period.  

The target asset allocation for pension adjusts dynamically based on the pension plans' funded status. The current targets are shown below. The expectation is that the allocation to fixed income securities will increase as the pension plans' funded status increases. The following ranges were established to produce an acceptable, economically efficient plan to manage around the targets. 

The target and range asset allocation for postretirement assets reflects changes made in 2012 as recommended in the latest optimization study.

Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2014 and 2013 and the target asset allocation and ranges are as follows:

Pension Asset Allocation	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	45%	34%	to	53%	45%	46%
International Equity Securities	20%	16%	to	24%	19%	20%
Fixed Income Securities	35%	31%	to	41%	35%	33%
Other	0%	0%	to	10%	1%	1%

Postretirement Asset Allocation	Non-Taxable and Taxable
	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	39%	34%	to	44%	42%	40%
International Equity Securities	26%	21%	to	31%	25%	26%
Fixed Income Securities	35%	30%	to	40%	33%	34%
Other	0%	0%	to	5%	0%	0%

In determining its expected long-term rate of return on plan assets used in the calculation of benefit plan costs, Entergy reviews past performance, current and expected future asset allocations, and capital market assumptions of its investment consultant and some investment managers.

The expected long-term rate of return for the qualified pension plans’ assets is based primarily on the geometric average of the historical annual performance of a representative portfolio weighted by the target asset allocation defined in the table above, along with other indications of expected return on assets. The time period reflected is a long dated period spanning several decades.

The expected long-term rate of return for the non-taxable postretirement trust assets is determined using the same methodology described above for pension assets, but the asset allocation specific to the non-taxable postretirement assets is used.

For the taxable postretirement trust assets, the investment allocation includes tax-exempt fixed income securities.  This asset allocation in combination with the same methodology employed to determine the expected return for other trust assets (as described above), with a modification to reflect applicable taxes, is used to produce the expected long-term rate of return for taxable postretirement trust assets.

Concentrations of Credit Risk

Entergy’s investment guidelines mandate the avoidance of risk concentrations.  Types of concentrations specified to be avoided include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country, geographic area and individual security issuance.  As of December 31, 2014, all investment managers and assets were materially in compliance with the approved investment guidelines, therefore there were no significant concentrations (defined as greater than 10 percent of plan assets) of risk in Entergy’s pension and other postretirement benefit plan assets.

Fair Value Measurements

Accounting standards provide the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).

The three levels of the fair value hierarchy are described below:

• Level 1 - Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date.  Assets are valued based on prices derived by an independent party that uses inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.  Prices are reviewed and can be challenged with the independent parties and/or overridden if it is believed such would be more reflective of fair value.  Level 2 inputs include the following:

-     quoted prices for similar assets or liabilities in active markets;

-     quoted prices for identical assets or liabilities in inactive markets;

-     inputs other than quoted prices that are observable for the asset or liability; or

-     inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If an asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

• Level 3 - Level 3 refers to securities valued based on significant unobservable inputs.

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.  The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2014, and December 31, 2013, a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate.

Qualified Defined Benefit Pension Plan Trusts

Final Average Pay Pension Plans’ Trust

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$10,017	(b)		$—	(a)		$—		$10,017
Common	717,685		(b)	97			—		717,782
Common collective trusts	—			1,886,897		(c)	—		1,886,897
103-12 investment entities	—			259,995		(h)	—		259,995
Fixed income securities:
U.S. Government securities	240		(b)	400,059		(a)	—		400,299
Corporate debt instruments	—			548,788		(a)	—		548,788
Registered investment companies	286,534		(d)	576,641		(e)	—		863,175
Other	—			130,295		(f)	—		130,295
Other:
Insurance company general account (unallocated contracts)	—			37,818		(g)	—		37,818
Total investments		$1,014,476			$3,840,590			$—		$4,855,066
Cash									314
Other pending transactions									7,359
Less: Other postretirement assets included in total investments									(34,954		)
Total fair value of qualified pension assets										$4,827,785

Cash Balance Pension Plans’ Trust

The Cash Balance pension plans’ trust held $181 thousand of cash as of December 31, 2014.

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$6,847	(b)		$6,038	(a)		$—		$12,885
Common	915,996		(b)	—			—		915,996
Common collective trusts	—			1,753,958		(c)	—		1,753,958
Fixed income securities:
U.S. Government securities	180,718		(b)	152,915		(a)	—		333,633
Corporate debt instruments	—			464,652		(a)	—		464,652
Registered investment companies	316,863		(d)	486,748		(e)	—		803,611
Other	—			129,169		(f)	—		129,169
Other:
Insurance company general account (unallocated contracts)	—			36,886		(g)	—		36,886
Total investments		$1,420,424			$3,030,366			$—		$4,450,790
Cash									280
Other pending transactions									8,081
Less: Other postretirement assets included in total investments									(29,914		)
Total fair value of qualified    pension assets										$4,429,237

Other Postretirement Trusts

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$370,228	(c)		$—		$370,228
Fixed income securities:
U.S. Government securities	36,306		(b)	45,618		(a)	—		81,924
Corporate debt instruments	—			57,830		(a)	—		57,830
Registered investment companies	5,558		(d)	—			—		5,558
Other	—			46,968		(f)	—		46,968
Total investments		$41,864			$520,644			$—		$562,508
Other pending transactions									165
Plus:  Other postretirement assets included in the investments of the qualified pension trust									34,954
Total fair value of other postretirement assets										$597,627

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$356,700	(c)		$—		$356,700
Fixed income securities:
U.S. Government securities	40,808		(b)	43,471		(a)	—		84,279
Corporate debt instruments	—			50,563		(a)	—		50,563
Registered investment companies	4,163		(d)	—			—		4,163
Other	—			43,458		(f)	—		43,458
Total investments		$44,971			$494,192			$—		$539,163
Other pending transactions									773
Plus:  Other postretirement assets included in the investments of the qualified pension trust									29,914
Total fair value of other postretirement assets										$569,850

(a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes.

(b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices.

(c) The common collective trusts hold investments in accordance with stated objectives.  The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index.  Net asset value per share of the common collective trusts estimate fair value.

(d) The registered investment company is a money market mutual fund with a stable net asset value of one dollar per share.

(e) The registered investment company holds investments in domestic and international bond markets and estimates fair value using net asset value per share.

(f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes.

(g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value.  The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust.

(h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. Net asset value per share of the 103-12 investment entities estimate fair value.

Accumulated Pension Benefit Obligation

The accumulated benefit obligation for Entergy’s qualified pension plans was $6.6 billion and $5.2 billion at December 31, 2014 and 2013, respectively.

The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2014 and 2013 was as follows:

	December 31,
	2014		2013
	(In Thousands)
Entergy Arkansas		$1,379,108		$1,107,023
Entergy Gulf States Louisiana		$649,932		$530,974
Entergy Louisiana		$873,759		$697,945
Entergy Mississippi		$399,300		$318,941
Entergy New Orleans		$186,473		$150,239
Entergy Texas		$391,296		$332,484
System Energy		$305,556		$247,807

Estimated Future Benefit Payments

Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2014, and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows:

	Estimated Future Benefits Payments
	Qualified Pension		Non-Qualified Pension		Other Postretirement (before Medicare Subsidy)		Estimated Future Medicare Subsidy Receipts
	(In Thousands)
Year(s)
2015		$262,792		$16,173		$78,601		$455
2016		$277,307		$9,976		$80,601		$525
2017		$292,841		$10,774		$83,425		$595
2018		$310,200		$12,598		$88,049		$1,785
2019		$328,533		$11,431		$92,253		$1,984
2020 - 2024		$1,966,776		$70,791		$506,086		$13,539

Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows:

Estimated Future Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$66,156		$25,450		$37,892		$18,702		$7,397		$19,078		$11,432
2016		$67,639		$26,805		$39,070		$19,625		$7,836		$19,697		$11,949
2017		$69,207		$28,340		$40,675		$20,517		$8,304		$20,558		$12,357
2018		$71,306		$30,279		$42,336		$21,444		$8,895		$21,448		$12,977
2019		$73,795		$32,445		$44,058		$22,306		$9,368		$22,291		$13,724
2020 - 2024		$418,009		$196,323		$256,639		$125,761		$56,659		$125,001		$87,663

Estimated Future Non-Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
Year(s)
2015		$347		$241		$18		$119		$23		$753
2016		$300		$228		$17		$115		$23		$837
2017		$291		$241		$16		$124		$23		$784
2018		$282		$205		$15		$114		$23		$749
2019		$339		$199		$17		$112		$46		$720
2020 - 2024		$2,684		$924		$90		$825		$199		$3,442

Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy)	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$15,699		$8,921		$9,885		$3,926		$4,261		$6,617		$2,796
2016		$15,745		$9,219		$10,016		$4,001		$4,253		$6,785		$2,802
2017		$15,830		$9,580		$10,148		$4,125		$4,280		$7,012		$2,883
2018		$16,305		$10,110		$10,654		$4,433		$4,373		$7,438		$2,984
2019		$16,528		$10,706		$11,048		$4,599		$4,412		$7,771		$3,138
2020 - 2024		$86,854		$59,199		$60,735		$25,341		$21,584		$41,303		$17,664

Estimated Future Medicare Part D Subsidy	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$77		$37		$45		$29		$23		$34		$9
2016		$87		$41		$50		$32		$24		$37		$11
2017		$96		$46		$56		$34		$25		$40		$1
2018		$358		$168		$204		$125		$87		$142		$52
2019		$398		$184		$223		$136		$90		$151		$59
2020 - 2024		$2,593		$1,243		$1,434		$839		$506		$922		$456

Contributions

Entergy currently expects to contribute approximately $396 million to its qualified pension plans and approximately $66.9 million to other postretirement plans in 2015.  The expected 2015 pension and other postretirement plan contributions of the Registrant Subsidiaries for their employees are shown below.  The required pension contributions will not be known with more certainty until the January 1, 2015 valuations are completed by April 1, 2015.

The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2015:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Pension Contributions		$92,523		$32,455		$56,960		$22,472		$10,910		$17,166		$20,778
Other Postretirement Contributions		$16,904		$8,921		$9,885		$535		$3,669		$3,231		$475

Actuarial Assumptions

The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2014, and 2013 were as follows:

	2014	2013
Weighted-average discount rate:
Qualified pension	4.03% - 4.40% Blended 4.27%	5.04% - 5.26% Blended 5.14%
Other postretirement	4.23%	5.05%
Non-qualified pension	3.61%	4.29%
Weighted-average rate of increase in future compensation levels	4.23%	4.23%
Assumed health care trend rate:
Pre-65	7.10%	7.25%
Post-65	7.70%	7.00%
Ultimate rate	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2023	2022
Post-65	2023	2022

The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2014,  2013, and 2012 were as follows:

	2014	2013	2012
Weighted-average discount rate:
Qualified pension	5.04%-5.26% Blended 5.14%	4.31% - 4.5% Blended 4.36%	5.10% - 5.20% Blended 5.11%
Other postretirement	5.05%	4.36%	5.10%
Non-qualified pension	4.29%	3.37%	4.40%
Weighted-average rate of increase   in future compensation levels	4.23%	4.23%	4.23%
Expected long-term rate of   return on plan assets:
Pension assets	8.50%	8.50%	8.50%
Other postretirement tax deferred assets	8.30%	8.50%	8.50%
Other postretirement taxable assets	6.50%	6.50%	6.50%
Assumed health care trend rate:
Pre-65	7.25%	7.50%	7.75%
Post-65	7.00%	7.25%	7.50%
Ultimate rate	4.75%	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2022	2022	2022
Post-65	2022	2022	2022

Entergy’s other postretirement benefit transition obligations were amortized over 20 years ending in 2012.

With respect to mortality assumptions, Entergy used the RP-2014 Employee and Health Annuitant Tables, with a fully generational MP-2014 projection scale, in determining its December 31, 2014 pension plans’ PBOs and other postretirement benefit APBO. The mortality assumptions used in determining Entergy’s December 31, 2013 pension plans’ PBOs were the 1994 Group Annuity Mortality Table and RP 2000 Combined Health Mortality, with generational (using Scale AA) projected mortality improvement. The mortality assumption used in determining the December 31, 2013 other postretirement APBO was the 1994 Group Annuity Mortality Table, with generational (using Scale AA) projected mortality improvement.

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects: 

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase /(Decrease) (In Thousands)
Entergy Corporation and its   subsidiaries		$234,971		$16,769		($190,996	)		($13,566	)

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects for the Registrant Subsidiaries for their employees:

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase/(Decrease) (In Thousands)
Entergy Arkansas		$39,286		$2,448		($31,753	)		($1,971	)
Entergy Gulf States Louisiana		$27,929		$2,092		($22,591	)		($1,671	)
Entergy Louisiana		$23,779		$1,681		($19,452	)		($1,366	)
Entergy Mississippi		$10,596		$754		($8,596	)		($606	)
Entergy New Orleans		$6,373		$386		($5,317	)		($321	)
Entergy Texas		$16,246		$1,148		($13,397	)		($927	)
System Energy		$8,716		$734		($7,044	)		($586	)

Defined Contribution Plans

Entergy sponsors the Savings Plan of Entergy Corporation and Subsidiaries (System Savings Plan).  The System Savings Plan is a defined contribution plan covering eligible employees of Entergy and certain of its subsidiaries. The participating employing Entergy subsidiary makes matching contributions to the System Savings Plan for all eligible participating employees in an amount equal to either 70% or 100% of the participants’ basic contributions, up to 6% of their eligible earnings per pay period.  The matching contribution is allocated to investments as directed by the employee.

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 $43.3 million in 2014, $44.5 million in 2013, and $43.7 million in 2012.  The majority of the contributions were to the System Savings Plan.

The Registrant Subsidiaries’ 2014, 2013, and 2012 contributions to defined contribution plans for their employees were as follows:

Year	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$3,044		$1,867		$2,266		$1,855		$710		$1,563
2013		$3,351		$1,906		$2,393		$1,954		$769		$1,616
2012		$3,223		$1,842		$2,327		$1,875		$740		$1,601

Entergy Gulf States Louisiana [Member]

Retirement And Other Postretirement Benefits

RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS  (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Qualified Pension Plans

Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment.  The “Entergy Corporation Retirement Plan III” is a final average pay plan that provides pension benefits that are based on employees’ credited service and compensation during the final years before retirement and includes a mandatory employee contribution of 3% of earnings during the first 10 years of plan participation, and allows voluntary contributions from 1% to 10% of earnings for a limited group of employees. Non-bargaining employees hired or rehired after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.”

The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy and the assets of the two cash balance pension plans are held in a second master trust established by Entergy.  Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee.  Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes.  Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust.  The fair value of the trusts’ assets is determined by the trustee and certain investment managers.  For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis.

Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly.  Assets for each Registrant Subsidiary are increased for investment income and contributions, and are decreased for benefit payments.  A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter.

Entergy Corporation and its subsidiaries fund pension costs in accordance with contribution guidelines established by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended.  The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts.  The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions.

Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI)

Entergy Corporation and its subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components:

	2014			2013			2012
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$140,436			$172,280			$150,763
Interest cost on projected benefit obligation	290,076			263,296			260,929
Expected return on assets	(361,462		)	(328,227		)	(317,423		)
Amortization of prior service cost	1,600			2,125			2,733
Recognized net loss	145,095			213,194			167,279
Curtailment loss	—			16,318			—
Special termination benefit	732			13,139			—
Net periodic pension costs		$216,477			$352,125			$264,281
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net (gain)/loss		$1,389,912			($894,150	)		$552,303
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(1,600		)	(2,125		)	(2,733		)
Acceleration of prior service cost to curtailment	—			(1,307		)	—
Amortization of net loss	(145,095		)	(213,194		)	(167,279		)
Total	1,243,217			(1,110,776		)	382,291
Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax)		$1,459,694			($758,651	)		$646,572
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year:
Prior service cost		$1,561			$1,600			$2,268
Net loss		$237,013			$146,958			$219,805

The Registrant Subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States  Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$20,090			$11,524			$14,182			$6,094			$2,666			$5,142			$5,785
Interest cost on projected benefit obligation	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Expected return on assets	(73,218		)	(37,950		)	(45,796		)	(22,794		)	(10,019		)	(23,723		)	(16,619		)
Amortization of prior service cost	—			—			—			—			—			—			2
Recognized net loss	35,956			15,923			24,523			9,415			5,796			9,356			9,500
Net pension cost		$42,365			$18,611			$30,779			$9,988			$6,607			$8,521			$12,229
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$300,907			$125,090			$193,842			$88,199			$38,161			$65,363			$60,763
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	—			—			—			—			—			—			(2		)
Amortization of net loss	(35,956		)	(15,923		)	(24,523		)	(9,415		)	(5,796		)	(9,356		)	(9,500		)
Total		$264,951			$109,167			$169,319			$78,784			$32,365			$56,007			$51,261
Total recognized as net periodic pension income regulatory asset, and/or AOCI (before tax)		$307,316			$127,778			$200,098			$88,772			$38,972			$64,528			$63,490
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Net loss		$54,254			$23,098			$36,704			$14,896			$8,053			$12,950			$13,055

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$25,229			$14,258			$17,044			$7,295			$3,264			$6,475			$7,242
Interest cost on projected benefit obligation	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Expected return on assets	(66,951		)	(34,982		)	(41,948		)	(21,139		)	(9,117		)	(22,277		)	(17,249		)
Amortization of prior service cost	23			9			83			10			2			6			9
Recognized net loss	49,517			23,374			34,107			13,189			7,878			13,302			9,560
Curtailment loss	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Net pension cost		$69,013			$31,013			$49,316			$16,283			$10,413			$16,223			$13,702
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net gain		($177,105	)		($98,610	)		($123,234	)		($52,525	)		($25,419	)		($55,772	)		($35,511	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(23		)	(9		)	(83		)	(10		)	(2		)	(6		)	(9		)
Amortization of net loss	(49,517		)	(23,374		)	(34,107		)	(13,189		)	(7,878		)	(13,302		)	(9,560		)
Total		($226,645	)		($121,993	)		($157,424	)		($65,724	)		($33,299	)		($69,080	)		($45,080	)
Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax)		($157,632	)		($90,980	)		($108,108	)		($49,441	)		($22,886	)		($52,857	)		($31,378	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$—			$—			$—			$—			$—			$—			$2
Net loss		$35,984			$15,935			$24,360			$9,421			$5,802			$9,363			$9,510

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$22,169			$12,273			$14,675			$6,410			$2,824			$5,684			$5,920
Interest cost on projected benefit obligation	55,686			25,679			35,201			16,279			7,608			16,823			12,987
Expected return on assets	(65,763		)	(34,370		)	(40,836		)	(20,945		)	(8,860		)	(22,325		)	(16,436		)
Amortization of prior service cost	200			19			208			30			7			15			13
Recognized net loss	40,772			16,173			28,197			10,532			6,878			10,179			9,001
Net pension cost		$53,064			$19,774			$37,445			$12,306			$8,457			$10,376			$11,485
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$105,133			$77,207			$76,163			$27,106			$14,282			$28,745			$10,266
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(200		)	(19		)	(208		)	(30		)	(7		)	(15		)	(13		)
Amortization of net loss	(40,772		)	(16,173		)	(28,197		)	(10,532		)	(6,878		)	(10,179		)	(9,001		)
Total		$64,161			$61,015			$47,758			$16,544			$7,397			$18,551			$1,252
Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax)		$117,225			$80,789			$85,203			$28,850			$15,854			$28,927			$12,737
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$23			$9			$83			$10			$2			$6			$10
Net loss		$50,175			$23,731			$34,906			$13,375			$8,046			$13,494			$9,717

Qualified PensionObligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet for Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$5,770,999			$6,096,639
Service cost	140,436			172,280
Interest cost	290,076			263,296
Curtailment	—			15,011
Special termination benefit	732			13,139
Actuarial loss/(gain)	1,284,049			(571,990		)
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Balance at end of year		$7,230,542			$5,770,999
Change in Plan Assets
Fair value of assets at beginning of year		$4,429,237			$3,832,860
Actual return on plan assets	255,599			650,386
Employer contributions	398,880			163,367
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Fair value of assets at end of year		$4,827,966			$4,429,237
Funded status		($2,402,576	)		($1,341,762	)
Amount recognized in the balance sheet
Non-current liabilities		($2,402,576	)		($1,341,762	)
Amount recognized as a regulatory asset
Prior service cost		$3,704			$5,027
Net loss	2,451,172			1,494,117
		$2,454,876			$1,499,144
Amount recognized as AOCI (before tax)
Prior service cost		$1,015			$1,292
Net loss	671,682			383,920
		$672,697			$385,212

Qualified Pension Obligations, Plan Assets, Funded Status, and Amounts Recognized in the Balance Sheet for the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Service cost	20,090			11,524			14,182			6,094			2,666			5,142			5,785
Interest cost	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Actuarial loss	279,781			113,883			180,763			81,600			35,131			58,556			55,410
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Balance at end of year		$1,485,718			$709,994			$956,541			$432,169			$202,555			$418,498			$334,312
Change in Plan Assets
Fair value of assets at beginning of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Actual return on plan assets	52,092			26,744			32,716			16,196			6,988			16,916			11,265
Employer contributions	95,464			30,176			54,549			21,839			10,509			17,072			21,261
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Fair value of assets at end of year		$977,521			$501,826			$611,533			$301,250			$133,344			$310,713			$217,621
Funded status		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized as  regulatory asset
Net loss		$722,119			$272,695			$468,779			$198,972			$102,141			$176,522			$172,463
Amounts recognized as AOCI (before tax)
Net loss		$—			$40,748			$—			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,274,886			$623,068			$817,745			$369,852			$174,585			$382,176			$282,841
Service cost	25,229			14,258			17,044			7,295			3,264			6,475			7,242
Interest cost	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Curtailment	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Actuarial gain	(110,943		)	(64,119		)	(80,794		)	(31,684		)	(16,276		)	(33,792		)	(23,882		)
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Balance at end of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Change in Plan Assets
Fair value of assets at beginning of year		$785,527			$409,971			$489,027			$248,272			$106,778			$262,110			$168,697
Actual return on plan assets	133,113			69,473			84,388			41,980			18,259			44,257			28,878
Employer contributions	35,382			11,550			21,152			8,152			4,175			6,880			8,305
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Fair value of assets at end of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Funded status		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized as  regulatory asset
Prior service cost		$—			$—			($1	)		$—			$—			$—			($4	)
Net loss	457,485			178,990			299,740			120,290			69,856			120,619			121,327
		$457,485			$178,990			$299,739			$120,290			$69,856			$120,619			$121,323
Amounts recognized as AOCI  (before tax)
Net loss		$—			$25,437			$—			$—			$—			$—			$—

Other Postretirement Benefits

Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees.  Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits.

In December 2013, Entergy announced changes to its other postretirement benefits which include, among other things, elimination of other postretirement benefits for all non-bargaining employees hired or rehired after June 30, 2014 and for certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreement, and setting a dollar limit cap on Entergy’s contribution to retiree medical costs, effective 2019 for those non-bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 and for certain bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 or such later date as provided for in their applicable collective bargaining agreement. In accordance with accounting standards, certain of the other postretirement benefit changes have been reflected in the December 31, 2013 other postretirement obligation. The changes affecting active bargaining unit employees are being negotiated with the unions prior to implementation, where necessary, and to the extent required by law.

Entergy uses a December 31 measurement date for its postretirement benefit plans.

Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions.  At January 1, 1993, the actuarially determined accumulated postretirement benefit obligation (APBO) earned by retirees and active employees was estimated to be approximately $241.4 million for Entergy (other than the former Entergy Gulf States) and $128 million for the former Entergy Gulf States (now split into Entergy Gulf States Louisiana and Entergy Texas).  Such obligations were being amortized over a 20-year period that began in 1993 and ended in 2012.  For the most part, the Registrant Subsidiaries recover accrued other postretirement benefit costs from customers and are required to contribute the other postretirement benefits collected in rates to an external trust.

Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates.  Entergy Arkansas began recovery in 1998, pursuant to an APSC order.  This order also allowed Entergy Arkansas to amortize a regulatory asset (representing the difference between other postretirement benefit costs and cash expenditures for other postretirement benefits incurred from 1993 through 1997) over a 15-year period that began in January 1998 and ended in December 2012.

The LPSC ordered Entergy Gulf States Louisiana and Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions.  However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted.

Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts.  System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf.

Trust assets contributed by participating Registrant Subsidiaries are in bank-administered master trusts, established by Entergy Corporation and maintained by a trustee.  Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets.  The assets in the master trusts are commingled for investment and administrative purposes.  Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses.  Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts.

Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI

Entergy Corporation’s and its subsidiaries’ total 2014, 2013, and 2012 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components:

	2014			2013			2012
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$43,493			$74,654			$68,883
Interest cost on APBO	71,841			79,453			82,561
Expected return on assets	(44,787		)	(40,323		)	(34,503		)
Amortization of transition obligation	—			—			3,177
Amortization of prior service credit	(31,590		)	(14,904		)	(18,163		)
Recognized net loss	11,143			44,178			36,448
Curtailment loss	—			12,729			—
Net other postretirement benefit cost		$50,100			$155,787			$138,403
Other changes in plan assets and benefit  obligations recognized as a regulatory asset  and /or AOCI (before tax)
Arising this period:
Prior service credit for period		($35,864	)		($116,571	)		$—
Net loss/(gain)	287,313			(405,976		)	92,584
Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year:
Amortization of transition obligation	—			—			(3,177		)
Amortization of prior service credit	31,590			14,904			18,163
Acceleration of prior service credit due to curtailment	—			1,989			—
Amortization of net loss	(11,143		)	(44,178		)	(36,448		)
Total		$271,896			($549,832	)		$71,122
Total recognized as net periodic benefit income/(cost),  regulatory asset, and/or AOCI (before tax)		$321,996			($394,045	)		$209,525
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic  benefit cost  in the following year
Prior service credit		($37,280	)		($31,589	)		($13,336	)
Net loss		$31,591			$11,197			$45,217

Total 2014, 2013, and 2012 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$5,957			$4,896			$4,518			$1,900			$868			$2,378			$2,058
Interest cost on APBO	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Expected return on assets	(19,135		)	—			—			(5,771		)	(4,475		)	(10,358		)	(3,727		)
Amortization of prior credit	(2,441		)	(2,237		)	(3,377		)	(915		)	(709		)	(1,300		)	(824		)
Recognized net loss	1,267			1,212			1,511			149			56			801			443
Net other postretirement benefit (income)/cost		($2,091	)		$12,249			$10,916			($982	)		($1,455	)		($2,827	)		$561
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		$—			($12,845	)		$—			$—			$—			($8,536	)		($3,845	)
Net loss		$55,642			$36,467			$24,582			$9,525			$6,309			$24,482			$10,596
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	2,441			2,237			3,377			915			709			1,300			824
Amortization of net loss	(1,267		)	(1,212		)	(1,511		)	(149		)	(56		)	(801		)	(443		)
Total		$56,816			$24,647			$26,448			$10,291			$6,962			$16,445			$7,132
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$54,725			$36,896			$37,364			$9,309			$5,507			$13,618			$7,693
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($4,086	)		($3,381	)		($916	)		($709	)		($2,723	)		($1,465	)
Net loss		$5,356			$3,908			$3,210			$860			$470			$2,740			$1,198

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,619			$7,910			$8,541			$3,246			$1,752			$3,760			$3,580
Interest cost on APBO	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Expected return on assets	(16,843		)	—			—			(5,335		)	(4,101		)	(9,391		)	(3,350		)
Amortization of prior credit	(689		)	(942		)	(508		)	(204		)	(24		)	(501		)	(126		)
Recognized net loss	7,976			4,598			5,050			2,534			1,509			3,744			1,896
Curtailment loss	4,517			1,546			1,848			596			354			1,436			760
Net other postretirement benefit cost		$18,125			$22,076			$24,341			$5,126			$2,625			$5,124			$5,705
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		($11,617	)		($8,705	)		($18,844	)		($4,714	)		($4,469	)		($5,359	)		($4,591	)
Net loss		($81,236	)		($40,938	)		($43,743	)		($30,018	)		($18,508	)		($34,562	)		($17,579	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	689			942			508			204			24			501			126
Acceleration of prior service credit/(cost) due to curtailment	78			91			41			20			(4		)	62			9
Amortization of net loss	(7,976		)	(4,598		)	(5,050		)	(2,534		)	(1,509		)	(3,744		)	(1,896		)
Total		($100,062	)		($53,208	)		($67,088	)		($37,042	)		($24,466	)		($43,102	)		($23,931	)
Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax)		($81,937	)		($31,132	)		($42,747	)		($31,916	)		($21,841	)		($37,978	)		($18,226	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($2,236	)		($3,376	)		($918	)		($709	)		($1,301	)		($824	)
Net loss		$1,267			$1,212			$1,511			$149			$56			$800			$464

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,089			$7,521			$7,796			$3,093			$1,689			$3,651			$3,293
Interest cost on APBO	14,452			9,590			9,781			4,716			3,422			6,650			3,028
Expected return on assets	(14,029		)	—			—			(4,521		)	(3,711		)	(8,415		)	(2,601		)
Amortization of transition obligation	820			238			382			351			1,189			187			8
Amortization of prior service cost/(credit)	(530		)	(824		)	(247		)	(139		)	38			(428		)	(63		)
Recognized net loss	8,305			4,737			4,359			2,920			1,559			4,320			1,970
Net other postretirement benefit cost		$18,107			$21,262			$22,071			$6,420			$4,186			$5,965			$5,635
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$9,066			$5,818			$16,215			$271			$2,260			$191			$2,043
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of transition obligation	(820		)	(238		)	(382		)	(351		)	(1,189		)	(187		)	(8		)
Amortization of prior service (cost)/credit	530			824			247			139			(38		)	428			63
Amortization of net loss	(8,305		)	(4,737		)	(4,359		)	(2,920		)	(1,559		)	(4,320		)	(1,970		)
Total		$471			$1,667			$11,721			($2,861	)		($526	)		($3,888	)		$128
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$18,578			$22,929			$33,792			$3,559			$3,660			$2,077			$5,763
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service cost/(credit)		($530	)		($824	)		($247	)		($139	)		$38			($428	)		($62	)
Net loss		$8,163			$4,693			$5,149			$2,650			$1,587			$3,905			$1,915

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet of Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in APBO
Balance at beginning of year		$1,461,910			$1,846,922
Service cost	43,493			74,654
Interest cost	71,841			79,453
Plan amendments	(35,864		)	(116,571		)
Curtailment	—			14,718
Plan participant contributions	22,160			19,141
Actuarial loss/(gain)	274,061			(370,004		)
Benefits paid	(102,439		)	(89,713		)
Medicare Part D subsidy received	4,395			3,310
Balance at end of year		$1,739,557			$1,461,910
Change in Plan Assets
Fair value of assets at beginning of year		$569,850			$488,448
Actual return on plan assets	31,535			76,314
Employer contributions	76,521			75,660
Plan participant contributions	22,160			19,141
Benefits paid	(102,439		)	(89,713		)
Fair value of assets at end of year		$597,627			$569,850
Funded status		($1,141,930	)		($892,060	)
Amounts recognized in the balance sheet
Current liabilities		($41,821	)		($40,602	)
Non-current liabilities	(1,100,109		)	(851,458		)
Total funded status		($1,141,930	)		($892,060	)
Amounts recognized as a regulatory asset
Prior service credit		($54,508	)		($93,332	)
Net loss	248,918			165,270
		$194,410			$71,938
Amounts recognized as AOCI (before tax)
Prior service credit		($104,086	)		($60,988	)
Net loss	300,518			107,996
		$196,432			$47,008

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Service cost	5,957			4,896			4,518			1,900			868			2,378			2,058
Interest cost	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Plan amendments	—			(12,845		)	—			—			—			(8,536		)	(3,845		)
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Actuarial loss	49,573			36,467			24,582			7,939			5,097			21,471			9,524
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Medicare Part D subsidy received	980			520			654			322			222			440			152
Balance at end of year		$303,716			$199,409			$195,537			$83,162			$63,779			$130,145			$60,754
Change in Plan Assets
Fair value of assets at beginning of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Actual return on plan assets	13,066			—			—			4,185			3,263			7,347			2,655
Employer contributions	15,251			8,309			11,245			8,505			4,289			3,446			334
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Fair value of assets at end of year		$244,191			$—			$—			$80,935			$71,004			$135,733			$48,293
Funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,884	)		($9,840	)		$—			$—			$—			$—
Non-current liabilities	(59,525		)	(190,525		)	(185,697		)	(2,227		)	7,225			5,588			(12,461		)
Total funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in regulatory asset
Prior service credit		($10,555	)		$—			$—			($4,141	)		($3,626	)		($13,741	)		($7,723	)
Net loss	94,647			—			—			18,680			12,738			46,453			20,450
		$84,092			$—			$—			$14,539			$9,112			$32,712			$12,727
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($20,967	)		($16,013	)		$—			$—			$—			$—
Net loss	—			66,832			58,072			—			—			—			—
		$—			$45,865			$42,059			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$315,308			$207,987			$220,017			$100,508			$74,200			$142,114			$67,934
Service cost	9,619			7,910			8,541			3,246			1,752			3,760			3,580
Interest cost	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Plan amendments	(11,617		)	(8,705		)	(18,844		)	(4,714		)	(4,469		)	(5,359		)	(4,591		)
Curtailment	4,595			1,637			1,889			616			350			1,498			769
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Actuarial gain	(67,253		)	(40,941		)	(43,747		)	(25,527		)	(13,739		)	(26,048		)	(14,639		)
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Medicare Part D subsidy received	737			410			513			245			194			334			105
Balance at end of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Change in Plan Assets
Fair value of assets at beginning of year		$194,018			$—			$—			$62,951			$58,651			$115,824			$39,474
Actual return on plan assets	30,830			—			—			9,826			8,870			17,905			6,292
Employer contributions	21,015			6,960			9,015			4,785			2,567			4,846			5,387
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Fair value of assets at end of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,803	)		($10,249	)		$—			$—			$—			$—
Non-current liabilities	(19,071		)	(161,499		)	(158,515		)	(1,101		)	8,665			16,200			(4,950		)
Total funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in regulatory asset
Prior service credit		($12,996	)		$—			$—			($5,056	)		($4,335	)		($6,505	)		($4,702	)
Net loss	40,272			—			—			9,304			6,485			22,772			10,297
		$27,276			$—			$—			$4,248			$2,150			$16,267			$5,595
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($10,359	)		($19,390	)		$—			$—			$—			$—
Net loss	—			31,577			35,001			—			—			—			—
		$—			$21,218			$15,611			$—			$—			$—			$—

Non-Qualified Pension Plans

Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  Entergy recognized net periodic pension cost related to these plans of $32.4 million in 2014, $54.5 million in 2013, and $26.5 million in 2012.  In 2014, 2013, and 2012 Entergy recognized $15.1 million, $33 million, and $6.3 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above.  The projected benefit obligation was $151.8 million and $154.3 million as of December 31, 2014 and 2013, respectively.  The accumulated benefit obligation was $130.6 million and $131.4 million as of December 31, 2014 and 2013, respectively.

Entergy’s non-qualified, non-current pension liability at December 31, 2014 and 2013 was $135.6 million and $127.5 million, respectively; and its current liability was $16.2 million and $26.8 million, respectively.  The unamortized prior service cost and net loss are recognized in regulatory assets ($60.3 million at December 31, 2014 and $59.1 million at December 31, 2013) and accumulated other comprehensive income before taxes ($23.5 million at December 31, 2014 and $26.1 million at December 31, 2013).

The Registrant Subsidiaries (except System Energy) participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  The net periodic pension cost for their employees for the non-qualified plans for 2014, 2013, and 2012, was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$754		$130		$5		$190		$95		$491
2013		$448		$151		$12		$192		$92		$1,001
2012		$464		$158		$12		$183		$79		$648

Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2013 net periodic pension cost above are settlement charges of $415 thousand for Entergy Texas related to the lump sum benefits paid out of the plan.  Included in the 2012 net periodic pension cost above are settlement charges of $38 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan.  

The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,495		$2,693		$158		$2,128		$476		$9,567
2013		$4,162		$2,511		$50		$1,752		$434		$7,910

The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,086		$2,693		$131		$1,761		$436		$9,215
2013		$3,765		$2,510		$50		$1,528		$387		$7,496

The following amounts were recorded on the balance sheet as of December 31, 2014 and 2013:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($347	)		($241	)		($18	)		($119	)		($23	)		($753	)
Non-current liabilities	(4,148		)	(2,452		)	(140		)	(2,009		)	(453		)	(8,814		)
Total funded status		($4,495	)		($2,693	)		($158	)		($2,128	)		($476	)		($9,567	)
Regulatory asset/(liability)		$2,368			$659			$37			$942			($65	)		$296
Accumulated other comprehensive income (before taxes)		$—			$98			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($367	)		($262	)		($6	)		($118	)		($20	)		($786	)
Non-current liabilities	(3,795		)	(2,249		)	(44		)	(1,634		)	(414		)	(7,124		)
Total funded status		($4,162	)		($2,511	)		($50	)		($1,752	)		($434	)		($7,910	)
Regulatory asset/(liability)		$1,979			$422			($87	)		$637			($18	)		($1,631	)
Accumulated other comprehensive income (before taxes)		$—			$57			$—			$—			$—			$—

Reclassification out of Accumulated Other Comprehensive Income

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2014:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,559	)		$22,280			($427	)		$20,294
Amortization of loss	(26,934		)	(6,689		)	(2,213		)	(35,836		)
Settlement loss	—			—			(3,643		)	(3,643		)
		($28,493	)		$15,591			($6,283	)		($19,185	)
Entergy Gulf States Louisiana
Amortization of prior service cost		$—			$2,237			$—			$2,237
Amortization of loss	(1,911		)	(1,212		)	(3		)	(3,126		)
		($1,911	)		$1,025			($3	)		($889	)
Entergy Louisiana
Amortization of prior service cost		$—			$3,377			$—			$3,377
Amortization of loss	—			(1,511		)	—			(1,511		)
		$—			$1,866			$—			$1,866

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2013:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,866	)		$12,925			($503	)		$10,556
Acceleration of prior service cost due to curtailment	(1,304		)	1,797			(178		)	315
Amortization of loss	(43,971		)	(21,590		)	(2,569		)	(68,130		)
Settlement loss	—			—			(11,612		)	(11,612		)
		($47,141	)		($6,868	)		($14,862	)		($68,871	)
Entergy Gulf States Louisiana
Amortization of prior service cost		($1	)		$942			$—			$941
Acceleration of prior service cost due to curtailment	—			91			—			91
Amortization of loss	(3,039		)	(4,598		)	(7		)	(7,644		)
		($3,040	)		($3,565	)		($7	)		($6,612	)
Entergy Louisiana
Amortization of prior service cost		$—			$508			$—			$508
Acceleration of prior service cost due to curtailment	—			41			—			41
Amortization of loss	—			(5,050		)	—			(5,050		)
		$—			($4,501	)		$—			($4,501	)

Accounting for Pension and Other Postretirement Benefits

Accounting standards require an employer to recognize in its balance sheet the funded status of its benefit plans.  This is measured as the difference between plan assets at fair value and the benefit obligation.  Entergy uses a December 31 measurement date for its pension and other postretirement plans.  Employers are to record previously unrecognized gains and losses, prior service costs, and any remaining transition asset or obligation (that resulted from adopting prior pension and other postretirement benefits accounting standards) as comprehensive income and/or as a regulatory asset reflective of the recovery mechanism for pension and other postretirement benefit costs in the Registrant Subsidiaries’ respective regulatory jurisdictions.  For the portion of Entergy Gulf States Louisiana that is not regulated, the unrecognized prior service cost, gains and losses, and transition asset/obligation for its pension and other postretirement benefit obligations are recorded as other comprehensive income.  Entergy Gulf States Louisiana and Entergy Louisiana recover other postretirement benefit costs on a pay-as-you-go basis and record the unrecognized prior service cost, gains and losses, and transition obligation for its other postretirement benefit obligation as other comprehensive income.  Accounting standards also require that changes in the funded status be recorded as other comprehensive income and/or a regulatory asset in the period in which the changes occur.

With regard to pension and other postretirement costs, Entergy calculates the expected return on pension and other postretirement benefit plan assets by multiplying the long-term expected rate of return on assets by the market-related value (MRV) of plan assets.  Entergy determines the MRV of pension plan assets by calculating a value that uses a 20-quarter phase-in of the difference between actual and expected returns.  For other postretirement benefit plan assets Entergy uses fair value when determining MRV.

Qualified Pension and Other Postretirement Plans’ Assets

The Plan Administrator’s trust asset investment strategy is to invest the assets in a manner whereby long-term earnings on the assets (plus cash contributions) provide adequate funding for retiree benefit payments.  The mix of assets is based on an optimization study that identifies asset allocation targets in order to achieve the maximum return for an acceptable level of risk, while minimizing the expected contributions and pension and postretirement expense.

In the optimization studies, the Plan Administrator formulates assumptions about characteristics, such as expected asset class investment returns, volatility (risk), and correlation coefficients among the various asset classes.  The future market assumptions used in the optimization study are determined by examining historical market characteristics of the various asset classes and making adjustments to reflect future conditions expected to prevail over the study period.  

The target asset allocation for pension adjusts dynamically based on the pension plans' funded status. The current targets are shown below. The expectation is that the allocation to fixed income securities will increase as the pension plans' funded status increases. The following ranges were established to produce an acceptable, economically efficient plan to manage around the targets. 

The target and range asset allocation for postretirement assets reflects changes made in 2012 as recommended in the latest optimization study.

Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2014 and 2013 and the target asset allocation and ranges are as follows:

Pension Asset Allocation	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	45%	34%	to	53%	45%	46%
International Equity Securities	20%	16%	to	24%	19%	20%
Fixed Income Securities	35%	31%	to	41%	35%	33%
Other	0%	0%	to	10%	1%	1%

Postretirement Asset Allocation	Non-Taxable and Taxable
	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	39%	34%	to	44%	42%	40%
International Equity Securities	26%	21%	to	31%	25%	26%
Fixed Income Securities	35%	30%	to	40%	33%	34%
Other	0%	0%	to	5%	0%	0%

In determining its expected long-term rate of return on plan assets used in the calculation of benefit plan costs, Entergy reviews past performance, current and expected future asset allocations, and capital market assumptions of its investment consultant and some investment managers.

The expected long-term rate of return for the qualified pension plans’ assets is based primarily on the geometric average of the historical annual performance of a representative portfolio weighted by the target asset allocation defined in the table above, along with other indications of expected return on assets. The time period reflected is a long dated period spanning several decades.

The expected long-term rate of return for the non-taxable postretirement trust assets is determined using the same methodology described above for pension assets, but the asset allocation specific to the non-taxable postretirement assets is used.

For the taxable postretirement trust assets, the investment allocation includes tax-exempt fixed income securities.  This asset allocation in combination with the same methodology employed to determine the expected return for other trust assets (as described above), with a modification to reflect applicable taxes, is used to produce the expected long-term rate of return for taxable postretirement trust assets.

Concentrations of Credit Risk

Entergy’s investment guidelines mandate the avoidance of risk concentrations.  Types of concentrations specified to be avoided include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country, geographic area and individual security issuance.  As of December 31, 2014, all investment managers and assets were materially in compliance with the approved investment guidelines, therefore there were no significant concentrations (defined as greater than 10 percent of plan assets) of risk in Entergy’s pension and other postretirement benefit plan assets.

Fair Value Measurements

Accounting standards provide the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).

The three levels of the fair value hierarchy are described below:

• Level 1 - Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date.  Assets are valued based on prices derived by an independent party that uses inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.  Prices are reviewed and can be challenged with the independent parties and/or overridden if it is believed such would be more reflective of fair value.  Level 2 inputs include the following:

-     quoted prices for similar assets or liabilities in active markets;

-     quoted prices for identical assets or liabilities in inactive markets;

-     inputs other than quoted prices that are observable for the asset or liability; or

-     inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If an asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

• Level 3 - Level 3 refers to securities valued based on significant unobservable inputs.

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.  The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2014, and December 31, 2013, a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate.

Qualified Defined Benefit Pension Plan Trusts

Final Average Pay Pension Plans’ Trust

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$10,017	(b)		$—	(a)		$—		$10,017
Common	717,685		(b)	97			—		717,782
Common collective trusts	—			1,886,897		(c)	—		1,886,897
103-12 investment entities	—			259,995		(h)	—		259,995
Fixed income securities:
U.S. Government securities	240		(b)	400,059		(a)	—		400,299
Corporate debt instruments	—			548,788		(a)	—		548,788
Registered investment companies	286,534		(d)	576,641		(e)	—		863,175
Other	—			130,295		(f)	—		130,295
Other:
Insurance company general account (unallocated contracts)	—			37,818		(g)	—		37,818
Total investments		$1,014,476			$3,840,590			$—		$4,855,066
Cash									314
Other pending transactions									7,359
Less: Other postretirement assets included in total investments									(34,954		)
Total fair value of qualified pension assets										$4,827,785

Cash Balance Pension Plans’ Trust

The Cash Balance pension plans’ trust held $181 thousand of cash as of December 31, 2014.

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$6,847	(b)		$6,038	(a)		$—		$12,885
Common	915,996		(b)	—			—		915,996
Common collective trusts	—			1,753,958		(c)	—		1,753,958
Fixed income securities:
U.S. Government securities	180,718		(b)	152,915		(a)	—		333,633
Corporate debt instruments	—			464,652		(a)	—		464,652
Registered investment companies	316,863		(d)	486,748		(e)	—		803,611
Other	—			129,169		(f)	—		129,169
Other:
Insurance company general account (unallocated contracts)	—			36,886		(g)	—		36,886
Total investments		$1,420,424			$3,030,366			$—		$4,450,790
Cash									280
Other pending transactions									8,081
Less: Other postretirement assets included in total investments									(29,914		)
Total fair value of qualified    pension assets										$4,429,237

Other Postretirement Trusts

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$370,228	(c)		$—		$370,228
Fixed income securities:
U.S. Government securities	36,306		(b)	45,618		(a)	—		81,924
Corporate debt instruments	—			57,830		(a)	—		57,830
Registered investment companies	5,558		(d)	—			—		5,558
Other	—			46,968		(f)	—		46,968
Total investments		$41,864			$520,644			$—		$562,508
Other pending transactions									165
Plus:  Other postretirement assets included in the investments of the qualified pension trust									34,954
Total fair value of other postretirement assets										$597,627

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$356,700	(c)		$—		$356,700
Fixed income securities:
U.S. Government securities	40,808		(b)	43,471		(a)	—		84,279
Corporate debt instruments	—			50,563		(a)	—		50,563
Registered investment companies	4,163		(d)	—			—		4,163
Other	—			43,458		(f)	—		43,458
Total investments		$44,971			$494,192			$—		$539,163
Other pending transactions									773
Plus:  Other postretirement assets included in the investments of the qualified pension trust									29,914
Total fair value of other postretirement assets										$569,850

(a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes.

(b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices.

(c) The common collective trusts hold investments in accordance with stated objectives.  The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index.  Net asset value per share of the common collective trusts estimate fair value.

(d) The registered investment company is a money market mutual fund with a stable net asset value of one dollar per share.

(e) The registered investment company holds investments in domestic and international bond markets and estimates fair value using net asset value per share.

(f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes.

(g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value.  The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust.

(h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. Net asset value per share of the 103-12 investment entities estimate fair value.

Accumulated Pension Benefit Obligation

The accumulated benefit obligation for Entergy’s qualified pension plans was $6.6 billion and $5.2 billion at December 31, 2014 and 2013, respectively.

The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2014 and 2013 was as follows:

	December 31,
	2014		2013
	(In Thousands)
Entergy Arkansas		$1,379,108		$1,107,023
Entergy Gulf States Louisiana		$649,932		$530,974
Entergy Louisiana		$873,759		$697,945
Entergy Mississippi		$399,300		$318,941
Entergy New Orleans		$186,473		$150,239
Entergy Texas		$391,296		$332,484
System Energy		$305,556		$247,807

Estimated Future Benefit Payments

Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2014, and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows:

	Estimated Future Benefits Payments
	Qualified Pension		Non-Qualified Pension		Other Postretirement (before Medicare Subsidy)		Estimated Future Medicare Subsidy Receipts
	(In Thousands)
Year(s)
2015		$262,792		$16,173		$78,601		$455
2016		$277,307		$9,976		$80,601		$525
2017		$292,841		$10,774		$83,425		$595
2018		$310,200		$12,598		$88,049		$1,785
2019		$328,533		$11,431		$92,253		$1,984
2020 - 2024		$1,966,776		$70,791		$506,086		$13,539

Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows:

Estimated Future Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$66,156		$25,450		$37,892		$18,702		$7,397		$19,078		$11,432
2016		$67,639		$26,805		$39,070		$19,625		$7,836		$19,697		$11,949
2017		$69,207		$28,340		$40,675		$20,517		$8,304		$20,558		$12,357
2018		$71,306		$30,279		$42,336		$21,444		$8,895		$21,448		$12,977
2019		$73,795		$32,445		$44,058		$22,306		$9,368		$22,291		$13,724
2020 - 2024		$418,009		$196,323		$256,639		$125,761		$56,659		$125,001		$87,663

Estimated Future Non-Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
Year(s)
2015		$347		$241		$18		$119		$23		$753
2016		$300		$228		$17		$115		$23		$837
2017		$291		$241		$16		$124		$23		$784
2018		$282		$205		$15		$114		$23		$749
2019		$339		$199		$17		$112		$46		$720
2020 - 2024		$2,684		$924		$90		$825		$199		$3,442

Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy)	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$15,699		$8,921		$9,885		$3,926		$4,261		$6,617		$2,796
2016		$15,745		$9,219		$10,016		$4,001		$4,253		$6,785		$2,802
2017		$15,830		$9,580		$10,148		$4,125		$4,280		$7,012		$2,883
2018		$16,305		$10,110		$10,654		$4,433		$4,373		$7,438		$2,984
2019		$16,528		$10,706		$11,048		$4,599		$4,412		$7,771		$3,138
2020 - 2024		$86,854		$59,199		$60,735		$25,341		$21,584		$41,303		$17,664

Estimated Future Medicare Part D Subsidy	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$77		$37		$45		$29		$23		$34		$9
2016		$87		$41		$50		$32		$24		$37		$11
2017		$96		$46		$56		$34		$25		$40		$1
2018		$358		$168		$204		$125		$87		$142		$52
2019		$398		$184		$223		$136		$90		$151		$59
2020 - 2024		$2,593		$1,243		$1,434		$839		$506		$922		$456

Contributions

Entergy currently expects to contribute approximately $396 million to its qualified pension plans and approximately $66.9 million to other postretirement plans in 2015.  The expected 2015 pension and other postretirement plan contributions of the Registrant Subsidiaries for their employees are shown below.  The required pension contributions will not be known with more certainty until the January 1, 2015 valuations are completed by April 1, 2015.

The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2015:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Pension Contributions		$92,523		$32,455		$56,960		$22,472		$10,910		$17,166		$20,778
Other Postretirement Contributions		$16,904		$8,921		$9,885		$535		$3,669		$3,231		$475

Actuarial Assumptions

The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2014, and 2013 were as follows:

	2014	2013
Weighted-average discount rate:
Qualified pension	4.03% - 4.40% Blended 4.27%	5.04% - 5.26% Blended 5.14%
Other postretirement	4.23%	5.05%
Non-qualified pension	3.61%	4.29%
Weighted-average rate of increase in future compensation levels	4.23%	4.23%
Assumed health care trend rate:
Pre-65	7.10%	7.25%
Post-65	7.70%	7.00%
Ultimate rate	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2023	2022
Post-65	2023	2022

The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2014,  2013, and 2012 were as follows:

	2014	2013	2012
Weighted-average discount rate:
Qualified pension	5.04%-5.26% Blended 5.14%	4.31% - 4.5% Blended 4.36%	5.10% - 5.20% Blended 5.11%
Other postretirement	5.05%	4.36%	5.10%
Non-qualified pension	4.29%	3.37%	4.40%
Weighted-average rate of increase   in future compensation levels	4.23%	4.23%	4.23%
Expected long-term rate of   return on plan assets:
Pension assets	8.50%	8.50%	8.50%
Other postretirement tax deferred assets	8.30%	8.50%	8.50%
Other postretirement taxable assets	6.50%	6.50%	6.50%
Assumed health care trend rate:
Pre-65	7.25%	7.50%	7.75%
Post-65	7.00%	7.25%	7.50%
Ultimate rate	4.75%	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2022	2022	2022
Post-65	2022	2022	2022

Entergy’s other postretirement benefit transition obligations were amortized over 20 years ending in 2012.

With respect to mortality assumptions, Entergy used the RP-2014 Employee and Health Annuitant Tables, with a fully generational MP-2014 projection scale, in determining its December 31, 2014 pension plans’ PBOs and other postretirement benefit APBO. The mortality assumptions used in determining Entergy’s December 31, 2013 pension plans’ PBOs were the 1994 Group Annuity Mortality Table and RP 2000 Combined Health Mortality, with generational (using Scale AA) projected mortality improvement. The mortality assumption used in determining the December 31, 2013 other postretirement APBO was the 1994 Group Annuity Mortality Table, with generational (using Scale AA) projected mortality improvement.

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects: 

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase /(Decrease) (In Thousands)
Entergy Corporation and its   subsidiaries		$234,971		$16,769		($190,996	)		($13,566	)

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects for the Registrant Subsidiaries for their employees:

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase/(Decrease) (In Thousands)
Entergy Arkansas		$39,286		$2,448		($31,753	)		($1,971	)
Entergy Gulf States Louisiana		$27,929		$2,092		($22,591	)		($1,671	)
Entergy Louisiana		$23,779		$1,681		($19,452	)		($1,366	)
Entergy Mississippi		$10,596		$754		($8,596	)		($606	)
Entergy New Orleans		$6,373		$386		($5,317	)		($321	)
Entergy Texas		$16,246		$1,148		($13,397	)		($927	)
System Energy		$8,716		$734		($7,044	)		($586	)

Defined Contribution Plans

Entergy sponsors the Savings Plan of Entergy Corporation and Subsidiaries (System Savings Plan).  The System Savings Plan is a defined contribution plan covering eligible employees of Entergy and certain of its subsidiaries. The participating employing Entergy subsidiary makes matching contributions to the System Savings Plan for all eligible participating employees in an amount equal to either 70% or 100% of the participants’ basic contributions, up to 6% of their eligible earnings per pay period.  The matching contribution is allocated to investments as directed by the employee.

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 $43.3 million in 2014, $44.5 million in 2013, and $43.7 million in 2012.  The majority of the contributions were to the System Savings Plan.

The Registrant Subsidiaries’ 2014, 2013, and 2012 contributions to defined contribution plans for their employees were as follows:

Year	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$3,044		$1,867		$2,266		$1,855		$710		$1,563
2013		$3,351		$1,906		$2,393		$1,954		$769		$1,616
2012		$3,223		$1,842		$2,327		$1,875		$740		$1,601

Entergy Louisiana [Member]

Retirement And Other Postretirement Benefits

RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS  (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Qualified Pension Plans

Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment.  The “Entergy Corporation Retirement Plan III” is a final average pay plan that provides pension benefits that are based on employees’ credited service and compensation during the final years before retirement and includes a mandatory employee contribution of 3% of earnings during the first 10 years of plan participation, and allows voluntary contributions from 1% to 10% of earnings for a limited group of employees. Non-bargaining employees hired or rehired after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.”

The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy and the assets of the two cash balance pension plans are held in a second master trust established by Entergy.  Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee.  Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes.  Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust.  The fair value of the trusts’ assets is determined by the trustee and certain investment managers.  For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis.

Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly.  Assets for each Registrant Subsidiary are increased for investment income and contributions, and are decreased for benefit payments.  A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter.

Entergy Corporation and its subsidiaries fund pension costs in accordance with contribution guidelines established by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended.  The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts.  The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions.

Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI)

Entergy Corporation and its subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components:

	2014			2013			2012
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$140,436			$172,280			$150,763
Interest cost on projected benefit obligation	290,076			263,296			260,929
Expected return on assets	(361,462		)	(328,227		)	(317,423		)
Amortization of prior service cost	1,600			2,125			2,733
Recognized net loss	145,095			213,194			167,279
Curtailment loss	—			16,318			—
Special termination benefit	732			13,139			—
Net periodic pension costs		$216,477			$352,125			$264,281
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net (gain)/loss		$1,389,912			($894,150	)		$552,303
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(1,600		)	(2,125		)	(2,733		)
Acceleration of prior service cost to curtailment	—			(1,307		)	—
Amortization of net loss	(145,095		)	(213,194		)	(167,279		)
Total	1,243,217			(1,110,776		)	382,291
Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax)		$1,459,694			($758,651	)		$646,572
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year:
Prior service cost		$1,561			$1,600			$2,268
Net loss		$237,013			$146,958			$219,805

The Registrant Subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States  Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$20,090			$11,524			$14,182			$6,094			$2,666			$5,142			$5,785
Interest cost on projected benefit obligation	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Expected return on assets	(73,218		)	(37,950		)	(45,796		)	(22,794		)	(10,019		)	(23,723		)	(16,619		)
Amortization of prior service cost	—			—			—			—			—			—			2
Recognized net loss	35,956			15,923			24,523			9,415			5,796			9,356			9,500
Net pension cost		$42,365			$18,611			$30,779			$9,988			$6,607			$8,521			$12,229
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$300,907			$125,090			$193,842			$88,199			$38,161			$65,363			$60,763
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	—			—			—			—			—			—			(2		)
Amortization of net loss	(35,956		)	(15,923		)	(24,523		)	(9,415		)	(5,796		)	(9,356		)	(9,500		)
Total		$264,951			$109,167			$169,319			$78,784			$32,365			$56,007			$51,261
Total recognized as net periodic pension income regulatory asset, and/or AOCI (before tax)		$307,316			$127,778			$200,098			$88,772			$38,972			$64,528			$63,490
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Net loss		$54,254			$23,098			$36,704			$14,896			$8,053			$12,950			$13,055

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$25,229			$14,258			$17,044			$7,295			$3,264			$6,475			$7,242
Interest cost on projected benefit obligation	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Expected return on assets	(66,951		)	(34,982		)	(41,948		)	(21,139		)	(9,117		)	(22,277		)	(17,249		)
Amortization of prior service cost	23			9			83			10			2			6			9
Recognized net loss	49,517			23,374			34,107			13,189			7,878			13,302			9,560
Curtailment loss	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Net pension cost		$69,013			$31,013			$49,316			$16,283			$10,413			$16,223			$13,702
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net gain		($177,105	)		($98,610	)		($123,234	)		($52,525	)		($25,419	)		($55,772	)		($35,511	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(23		)	(9		)	(83		)	(10		)	(2		)	(6		)	(9		)
Amortization of net loss	(49,517		)	(23,374		)	(34,107		)	(13,189		)	(7,878		)	(13,302		)	(9,560		)
Total		($226,645	)		($121,993	)		($157,424	)		($65,724	)		($33,299	)		($69,080	)		($45,080	)
Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax)		($157,632	)		($90,980	)		($108,108	)		($49,441	)		($22,886	)		($52,857	)		($31,378	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$—			$—			$—			$—			$—			$—			$2
Net loss		$35,984			$15,935			$24,360			$9,421			$5,802			$9,363			$9,510

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$22,169			$12,273			$14,675			$6,410			$2,824			$5,684			$5,920
Interest cost on projected benefit obligation	55,686			25,679			35,201			16,279			7,608			16,823			12,987
Expected return on assets	(65,763		)	(34,370		)	(40,836		)	(20,945		)	(8,860		)	(22,325		)	(16,436		)
Amortization of prior service cost	200			19			208			30			7			15			13
Recognized net loss	40,772			16,173			28,197			10,532			6,878			10,179			9,001
Net pension cost		$53,064			$19,774			$37,445			$12,306			$8,457			$10,376			$11,485
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$105,133			$77,207			$76,163			$27,106			$14,282			$28,745			$10,266
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(200		)	(19		)	(208		)	(30		)	(7		)	(15		)	(13		)
Amortization of net loss	(40,772		)	(16,173		)	(28,197		)	(10,532		)	(6,878		)	(10,179		)	(9,001		)
Total		$64,161			$61,015			$47,758			$16,544			$7,397			$18,551			$1,252
Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax)		$117,225			$80,789			$85,203			$28,850			$15,854			$28,927			$12,737
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$23			$9			$83			$10			$2			$6			$10
Net loss		$50,175			$23,731			$34,906			$13,375			$8,046			$13,494			$9,717

Qualified PensionObligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet for Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$5,770,999			$6,096,639
Service cost	140,436			172,280
Interest cost	290,076			263,296
Curtailment	—			15,011
Special termination benefit	732			13,139
Actuarial loss/(gain)	1,284,049			(571,990		)
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Balance at end of year		$7,230,542			$5,770,999
Change in Plan Assets
Fair value of assets at beginning of year		$4,429,237			$3,832,860
Actual return on plan assets	255,599			650,386
Employer contributions	398,880			163,367
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Fair value of assets at end of year		$4,827,966			$4,429,237
Funded status		($2,402,576	)		($1,341,762	)
Amount recognized in the balance sheet
Non-current liabilities		($2,402,576	)		($1,341,762	)
Amount recognized as a regulatory asset
Prior service cost		$3,704			$5,027
Net loss	2,451,172			1,494,117
		$2,454,876			$1,499,144
Amount recognized as AOCI (before tax)
Prior service cost		$1,015			$1,292
Net loss	671,682			383,920
		$672,697			$385,212

Qualified Pension Obligations, Plan Assets, Funded Status, and Amounts Recognized in the Balance Sheet for the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Service cost	20,090			11,524			14,182			6,094			2,666			5,142			5,785
Interest cost	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Actuarial loss	279,781			113,883			180,763			81,600			35,131			58,556			55,410
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Balance at end of year		$1,485,718			$709,994			$956,541			$432,169			$202,555			$418,498			$334,312
Change in Plan Assets
Fair value of assets at beginning of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Actual return on plan assets	52,092			26,744			32,716			16,196			6,988			16,916			11,265
Employer contributions	95,464			30,176			54,549			21,839			10,509			17,072			21,261
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Fair value of assets at end of year		$977,521			$501,826			$611,533			$301,250			$133,344			$310,713			$217,621
Funded status		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized as  regulatory asset
Net loss		$722,119			$272,695			$468,779			$198,972			$102,141			$176,522			$172,463
Amounts recognized as AOCI (before tax)
Net loss		$—			$40,748			$—			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,274,886			$623,068			$817,745			$369,852			$174,585			$382,176			$282,841
Service cost	25,229			14,258			17,044			7,295			3,264			6,475			7,242
Interest cost	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Curtailment	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Actuarial gain	(110,943		)	(64,119		)	(80,794		)	(31,684		)	(16,276		)	(33,792		)	(23,882		)
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Balance at end of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Change in Plan Assets
Fair value of assets at beginning of year		$785,527			$409,971			$489,027			$248,272			$106,778			$262,110			$168,697
Actual return on plan assets	133,113			69,473			84,388			41,980			18,259			44,257			28,878
Employer contributions	35,382			11,550			21,152			8,152			4,175			6,880			8,305
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Fair value of assets at end of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Funded status		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized as  regulatory asset
Prior service cost		$—			$—			($1	)		$—			$—			$—			($4	)
Net loss	457,485			178,990			299,740			120,290			69,856			120,619			121,327
		$457,485			$178,990			$299,739			$120,290			$69,856			$120,619			$121,323
Amounts recognized as AOCI  (before tax)
Net loss		$—			$25,437			$—			$—			$—			$—			$—

Other Postretirement Benefits

Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees.  Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits.

In December 2013, Entergy announced changes to its other postretirement benefits which include, among other things, elimination of other postretirement benefits for all non-bargaining employees hired or rehired after June 30, 2014 and for certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreement, and setting a dollar limit cap on Entergy’s contribution to retiree medical costs, effective 2019 for those non-bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 and for certain bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 or such later date as provided for in their applicable collective bargaining agreement. In accordance with accounting standards, certain of the other postretirement benefit changes have been reflected in the December 31, 2013 other postretirement obligation. The changes affecting active bargaining unit employees are being negotiated with the unions prior to implementation, where necessary, and to the extent required by law.

Entergy uses a December 31 measurement date for its postretirement benefit plans.

Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions.  At January 1, 1993, the actuarially determined accumulated postretirement benefit obligation (APBO) earned by retirees and active employees was estimated to be approximately $241.4 million for Entergy (other than the former Entergy Gulf States) and $128 million for the former Entergy Gulf States (now split into Entergy Gulf States Louisiana and Entergy Texas).  Such obligations were being amortized over a 20-year period that began in 1993 and ended in 2012.  For the most part, the Registrant Subsidiaries recover accrued other postretirement benefit costs from customers and are required to contribute the other postretirement benefits collected in rates to an external trust.

Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates.  Entergy Arkansas began recovery in 1998, pursuant to an APSC order.  This order also allowed Entergy Arkansas to amortize a regulatory asset (representing the difference between other postretirement benefit costs and cash expenditures for other postretirement benefits incurred from 1993 through 1997) over a 15-year period that began in January 1998 and ended in December 2012.

The LPSC ordered Entergy Gulf States Louisiana and Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions.  However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted.

Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts.  System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf.

Trust assets contributed by participating Registrant Subsidiaries are in bank-administered master trusts, established by Entergy Corporation and maintained by a trustee.  Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets.  The assets in the master trusts are commingled for investment and administrative purposes.  Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses.  Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts.

Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI

Entergy Corporation’s and its subsidiaries’ total 2014, 2013, and 2012 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components:

	2014			2013			2012
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$43,493			$74,654			$68,883
Interest cost on APBO	71,841			79,453			82,561
Expected return on assets	(44,787		)	(40,323		)	(34,503		)
Amortization of transition obligation	—			—			3,177
Amortization of prior service credit	(31,590		)	(14,904		)	(18,163		)
Recognized net loss	11,143			44,178			36,448
Curtailment loss	—			12,729			—
Net other postretirement benefit cost		$50,100			$155,787			$138,403
Other changes in plan assets and benefit  obligations recognized as a regulatory asset  and /or AOCI (before tax)
Arising this period:
Prior service credit for period		($35,864	)		($116,571	)		$—
Net loss/(gain)	287,313			(405,976		)	92,584
Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year:
Amortization of transition obligation	—			—			(3,177		)
Amortization of prior service credit	31,590			14,904			18,163
Acceleration of prior service credit due to curtailment	—			1,989			—
Amortization of net loss	(11,143		)	(44,178		)	(36,448		)
Total		$271,896			($549,832	)		$71,122
Total recognized as net periodic benefit income/(cost),  regulatory asset, and/or AOCI (before tax)		$321,996			($394,045	)		$209,525
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic  benefit cost  in the following year
Prior service credit		($37,280	)		($31,589	)		($13,336	)
Net loss		$31,591			$11,197			$45,217

Total 2014, 2013, and 2012 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$5,957			$4,896			$4,518			$1,900			$868			$2,378			$2,058
Interest cost on APBO	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Expected return on assets	(19,135		)	—			—			(5,771		)	(4,475		)	(10,358		)	(3,727		)
Amortization of prior credit	(2,441		)	(2,237		)	(3,377		)	(915		)	(709		)	(1,300		)	(824		)
Recognized net loss	1,267			1,212			1,511			149			56			801			443
Net other postretirement benefit (income)/cost		($2,091	)		$12,249			$10,916			($982	)		($1,455	)		($2,827	)		$561
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		$—			($12,845	)		$—			$—			$—			($8,536	)		($3,845	)
Net loss		$55,642			$36,467			$24,582			$9,525			$6,309			$24,482			$10,596
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	2,441			2,237			3,377			915			709			1,300			824
Amortization of net loss	(1,267		)	(1,212		)	(1,511		)	(149		)	(56		)	(801		)	(443		)
Total		$56,816			$24,647			$26,448			$10,291			$6,962			$16,445			$7,132
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$54,725			$36,896			$37,364			$9,309			$5,507			$13,618			$7,693
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($4,086	)		($3,381	)		($916	)		($709	)		($2,723	)		($1,465	)
Net loss		$5,356			$3,908			$3,210			$860			$470			$2,740			$1,198

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,619			$7,910			$8,541			$3,246			$1,752			$3,760			$3,580
Interest cost on APBO	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Expected return on assets	(16,843		)	—			—			(5,335		)	(4,101		)	(9,391		)	(3,350		)
Amortization of prior credit	(689		)	(942		)	(508		)	(204		)	(24		)	(501		)	(126		)
Recognized net loss	7,976			4,598			5,050			2,534			1,509			3,744			1,896
Curtailment loss	4,517			1,546			1,848			596			354			1,436			760
Net other postretirement benefit cost		$18,125			$22,076			$24,341			$5,126			$2,625			$5,124			$5,705
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		($11,617	)		($8,705	)		($18,844	)		($4,714	)		($4,469	)		($5,359	)		($4,591	)
Net loss		($81,236	)		($40,938	)		($43,743	)		($30,018	)		($18,508	)		($34,562	)		($17,579	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	689			942			508			204			24			501			126
Acceleration of prior service credit/(cost) due to curtailment	78			91			41			20			(4		)	62			9
Amortization of net loss	(7,976		)	(4,598		)	(5,050		)	(2,534		)	(1,509		)	(3,744		)	(1,896		)
Total		($100,062	)		($53,208	)		($67,088	)		($37,042	)		($24,466	)		($43,102	)		($23,931	)
Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax)		($81,937	)		($31,132	)		($42,747	)		($31,916	)		($21,841	)		($37,978	)		($18,226	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($2,236	)		($3,376	)		($918	)		($709	)		($1,301	)		($824	)
Net loss		$1,267			$1,212			$1,511			$149			$56			$800			$464

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,089			$7,521			$7,796			$3,093			$1,689			$3,651			$3,293
Interest cost on APBO	14,452			9,590			9,781			4,716			3,422			6,650			3,028
Expected return on assets	(14,029		)	—			—			(4,521		)	(3,711		)	(8,415		)	(2,601		)
Amortization of transition obligation	820			238			382			351			1,189			187			8
Amortization of prior service cost/(credit)	(530		)	(824		)	(247		)	(139		)	38			(428		)	(63		)
Recognized net loss	8,305			4,737			4,359			2,920			1,559			4,320			1,970
Net other postretirement benefit cost		$18,107			$21,262			$22,071			$6,420			$4,186			$5,965			$5,635
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$9,066			$5,818			$16,215			$271			$2,260			$191			$2,043
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of transition obligation	(820		)	(238		)	(382		)	(351		)	(1,189		)	(187		)	(8		)
Amortization of prior service (cost)/credit	530			824			247			139			(38		)	428			63
Amortization of net loss	(8,305		)	(4,737		)	(4,359		)	(2,920		)	(1,559		)	(4,320		)	(1,970		)
Total		$471			$1,667			$11,721			($2,861	)		($526	)		($3,888	)		$128
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$18,578			$22,929			$33,792			$3,559			$3,660			$2,077			$5,763
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service cost/(credit)		($530	)		($824	)		($247	)		($139	)		$38			($428	)		($62	)
Net loss		$8,163			$4,693			$5,149			$2,650			$1,587			$3,905			$1,915

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet of Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in APBO
Balance at beginning of year		$1,461,910			$1,846,922
Service cost	43,493			74,654
Interest cost	71,841			79,453
Plan amendments	(35,864		)	(116,571		)
Curtailment	—			14,718
Plan participant contributions	22,160			19,141
Actuarial loss/(gain)	274,061			(370,004		)
Benefits paid	(102,439		)	(89,713		)
Medicare Part D subsidy received	4,395			3,310
Balance at end of year		$1,739,557			$1,461,910
Change in Plan Assets
Fair value of assets at beginning of year		$569,850			$488,448
Actual return on plan assets	31,535			76,314
Employer contributions	76,521			75,660
Plan participant contributions	22,160			19,141
Benefits paid	(102,439		)	(89,713		)
Fair value of assets at end of year		$597,627			$569,850
Funded status		($1,141,930	)		($892,060	)
Amounts recognized in the balance sheet
Current liabilities		($41,821	)		($40,602	)
Non-current liabilities	(1,100,109		)	(851,458		)
Total funded status		($1,141,930	)		($892,060	)
Amounts recognized as a regulatory asset
Prior service credit		($54,508	)		($93,332	)
Net loss	248,918			165,270
		$194,410			$71,938
Amounts recognized as AOCI (before tax)
Prior service credit		($104,086	)		($60,988	)
Net loss	300,518			107,996
		$196,432			$47,008

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Service cost	5,957			4,896			4,518			1,900			868			2,378			2,058
Interest cost	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Plan amendments	—			(12,845		)	—			—			—			(8,536		)	(3,845		)
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Actuarial loss	49,573			36,467			24,582			7,939			5,097			21,471			9,524
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Medicare Part D subsidy received	980			520			654			322			222			440			152
Balance at end of year		$303,716			$199,409			$195,537			$83,162			$63,779			$130,145			$60,754
Change in Plan Assets
Fair value of assets at beginning of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Actual return on plan assets	13,066			—			—			4,185			3,263			7,347			2,655
Employer contributions	15,251			8,309			11,245			8,505			4,289			3,446			334
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Fair value of assets at end of year		$244,191			$—			$—			$80,935			$71,004			$135,733			$48,293
Funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,884	)		($9,840	)		$—			$—			$—			$—
Non-current liabilities	(59,525		)	(190,525		)	(185,697		)	(2,227		)	7,225			5,588			(12,461		)
Total funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in regulatory asset
Prior service credit		($10,555	)		$—			$—			($4,141	)		($3,626	)		($13,741	)		($7,723	)
Net loss	94,647			—			—			18,680			12,738			46,453			20,450
		$84,092			$—			$—			$14,539			$9,112			$32,712			$12,727
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($20,967	)		($16,013	)		$—			$—			$—			$—
Net loss	—			66,832			58,072			—			—			—			—
		$—			$45,865			$42,059			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$315,308			$207,987			$220,017			$100,508			$74,200			$142,114			$67,934
Service cost	9,619			7,910			8,541			3,246			1,752			3,760			3,580
Interest cost	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Plan amendments	(11,617		)	(8,705		)	(18,844		)	(4,714		)	(4,469		)	(5,359		)	(4,591		)
Curtailment	4,595			1,637			1,889			616			350			1,498			769
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Actuarial gain	(67,253		)	(40,941		)	(43,747		)	(25,527		)	(13,739		)	(26,048		)	(14,639		)
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Medicare Part D subsidy received	737			410			513			245			194			334			105
Balance at end of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Change in Plan Assets
Fair value of assets at beginning of year		$194,018			$—			$—			$62,951			$58,651			$115,824			$39,474
Actual return on plan assets	30,830			—			—			9,826			8,870			17,905			6,292
Employer contributions	21,015			6,960			9,015			4,785			2,567			4,846			5,387
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Fair value of assets at end of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,803	)		($10,249	)		$—			$—			$—			$—
Non-current liabilities	(19,071		)	(161,499		)	(158,515		)	(1,101		)	8,665			16,200			(4,950		)
Total funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in regulatory asset
Prior service credit		($12,996	)		$—			$—			($5,056	)		($4,335	)		($6,505	)		($4,702	)
Net loss	40,272			—			—			9,304			6,485			22,772			10,297
		$27,276			$—			$—			$4,248			$2,150			$16,267			$5,595
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($10,359	)		($19,390	)		$—			$—			$—			$—
Net loss	—			31,577			35,001			—			—			—			—
		$—			$21,218			$15,611			$—			$—			$—			$—

Non-Qualified Pension Plans

Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  Entergy recognized net periodic pension cost related to these plans of $32.4 million in 2014, $54.5 million in 2013, and $26.5 million in 2012.  In 2014, 2013, and 2012 Entergy recognized $15.1 million, $33 million, and $6.3 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above.  The projected benefit obligation was $151.8 million and $154.3 million as of December 31, 2014 and 2013, respectively.  The accumulated benefit obligation was $130.6 million and $131.4 million as of December 31, 2014 and 2013, respectively.

Entergy’s non-qualified, non-current pension liability at December 31, 2014 and 2013 was $135.6 million and $127.5 million, respectively; and its current liability was $16.2 million and $26.8 million, respectively.  The unamortized prior service cost and net loss are recognized in regulatory assets ($60.3 million at December 31, 2014 and $59.1 million at December 31, 2013) and accumulated other comprehensive income before taxes ($23.5 million at December 31, 2014 and $26.1 million at December 31, 2013).

The Registrant Subsidiaries (except System Energy) participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  The net periodic pension cost for their employees for the non-qualified plans for 2014, 2013, and 2012, was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$754		$130		$5		$190		$95		$491
2013		$448		$151		$12		$192		$92		$1,001
2012		$464		$158		$12		$183		$79		$648

Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2013 net periodic pension cost above are settlement charges of $415 thousand for Entergy Texas related to the lump sum benefits paid out of the plan.  Included in the 2012 net periodic pension cost above are settlement charges of $38 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan.  

The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,495		$2,693		$158		$2,128		$476		$9,567
2013		$4,162		$2,511		$50		$1,752		$434		$7,910

The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,086		$2,693		$131		$1,761		$436		$9,215
2013		$3,765		$2,510		$50		$1,528		$387		$7,496

The following amounts were recorded on the balance sheet as of December 31, 2014 and 2013:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($347	)		($241	)		($18	)		($119	)		($23	)		($753	)
Non-current liabilities	(4,148		)	(2,452		)	(140		)	(2,009		)	(453		)	(8,814		)
Total funded status		($4,495	)		($2,693	)		($158	)		($2,128	)		($476	)		($9,567	)
Regulatory asset/(liability)		$2,368			$659			$37			$942			($65	)		$296
Accumulated other comprehensive income (before taxes)		$—			$98			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($367	)		($262	)		($6	)		($118	)		($20	)		($786	)
Non-current liabilities	(3,795		)	(2,249		)	(44		)	(1,634		)	(414		)	(7,124		)
Total funded status		($4,162	)		($2,511	)		($50	)		($1,752	)		($434	)		($7,910	)
Regulatory asset/(liability)		$1,979			$422			($87	)		$637			($18	)		($1,631	)
Accumulated other comprehensive income (before taxes)		$—			$57			$—			$—			$—			$—

Reclassification out of Accumulated Other Comprehensive Income

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2014:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,559	)		$22,280			($427	)		$20,294
Amortization of loss	(26,934		)	(6,689		)	(2,213		)	(35,836		)
Settlement loss	—			—			(3,643		)	(3,643		)
		($28,493	)		$15,591			($6,283	)		($19,185	)
Entergy Gulf States Louisiana
Amortization of prior service cost		$—			$2,237			$—			$2,237
Amortization of loss	(1,911		)	(1,212		)	(3		)	(3,126		)
		($1,911	)		$1,025			($3	)		($889	)
Entergy Louisiana
Amortization of prior service cost		$—			$3,377			$—			$3,377
Amortization of loss	—			(1,511		)	—			(1,511		)
		$—			$1,866			$—			$1,866

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2013:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,866	)		$12,925			($503	)		$10,556
Acceleration of prior service cost due to curtailment	(1,304		)	1,797			(178		)	315
Amortization of loss	(43,971		)	(21,590		)	(2,569		)	(68,130		)
Settlement loss	—			—			(11,612		)	(11,612		)
		($47,141	)		($6,868	)		($14,862	)		($68,871	)
Entergy Gulf States Louisiana
Amortization of prior service cost		($1	)		$942			$—			$941
Acceleration of prior service cost due to curtailment	—			91			—			91
Amortization of loss	(3,039		)	(4,598		)	(7		)	(7,644		)
		($3,040	)		($3,565	)		($7	)		($6,612	)
Entergy Louisiana
Amortization of prior service cost		$—			$508			$—			$508
Acceleration of prior service cost due to curtailment	—			41			—			41
Amortization of loss	—			(5,050		)	—			(5,050		)
		$—			($4,501	)		$—			($4,501	)

Accounting for Pension and Other Postretirement Benefits

Accounting standards require an employer to recognize in its balance sheet the funded status of its benefit plans.  This is measured as the difference between plan assets at fair value and the benefit obligation.  Entergy uses a December 31 measurement date for its pension and other postretirement plans.  Employers are to record previously unrecognized gains and losses, prior service costs, and any remaining transition asset or obligation (that resulted from adopting prior pension and other postretirement benefits accounting standards) as comprehensive income and/or as a regulatory asset reflective of the recovery mechanism for pension and other postretirement benefit costs in the Registrant Subsidiaries’ respective regulatory jurisdictions.  For the portion of Entergy Gulf States Louisiana that is not regulated, the unrecognized prior service cost, gains and losses, and transition asset/obligation for its pension and other postretirement benefit obligations are recorded as other comprehensive income.  Entergy Gulf States Louisiana and Entergy Louisiana recover other postretirement benefit costs on a pay-as-you-go basis and record the unrecognized prior service cost, gains and losses, and transition obligation for its other postretirement benefit obligation as other comprehensive income.  Accounting standards also require that changes in the funded status be recorded as other comprehensive income and/or a regulatory asset in the period in which the changes occur.

With regard to pension and other postretirement costs, Entergy calculates the expected return on pension and other postretirement benefit plan assets by multiplying the long-term expected rate of return on assets by the market-related value (MRV) of plan assets.  Entergy determines the MRV of pension plan assets by calculating a value that uses a 20-quarter phase-in of the difference between actual and expected returns.  For other postretirement benefit plan assets Entergy uses fair value when determining MRV.

Qualified Pension and Other Postretirement Plans’ Assets

The Plan Administrator’s trust asset investment strategy is to invest the assets in a manner whereby long-term earnings on the assets (plus cash contributions) provide adequate funding for retiree benefit payments.  The mix of assets is based on an optimization study that identifies asset allocation targets in order to achieve the maximum return for an acceptable level of risk, while minimizing the expected contributions and pension and postretirement expense.

In the optimization studies, the Plan Administrator formulates assumptions about characteristics, such as expected asset class investment returns, volatility (risk), and correlation coefficients among the various asset classes.  The future market assumptions used in the optimization study are determined by examining historical market characteristics of the various asset classes and making adjustments to reflect future conditions expected to prevail over the study period.  

The target asset allocation for pension adjusts dynamically based on the pension plans' funded status. The current targets are shown below. The expectation is that the allocation to fixed income securities will increase as the pension plans' funded status increases. The following ranges were established to produce an acceptable, economically efficient plan to manage around the targets. 

The target and range asset allocation for postretirement assets reflects changes made in 2012 as recommended in the latest optimization study.

Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2014 and 2013 and the target asset allocation and ranges are as follows:

Pension Asset Allocation	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	45%	34%	to	53%	45%	46%
International Equity Securities	20%	16%	to	24%	19%	20%
Fixed Income Securities	35%	31%	to	41%	35%	33%
Other	0%	0%	to	10%	1%	1%

Postretirement Asset Allocation	Non-Taxable and Taxable
	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	39%	34%	to	44%	42%	40%
International Equity Securities	26%	21%	to	31%	25%	26%
Fixed Income Securities	35%	30%	to	40%	33%	34%
Other	0%	0%	to	5%	0%	0%

In determining its expected long-term rate of return on plan assets used in the calculation of benefit plan costs, Entergy reviews past performance, current and expected future asset allocations, and capital market assumptions of its investment consultant and some investment managers.

The expected long-term rate of return for the qualified pension plans’ assets is based primarily on the geometric average of the historical annual performance of a representative portfolio weighted by the target asset allocation defined in the table above, along with other indications of expected return on assets. The time period reflected is a long dated period spanning several decades.

The expected long-term rate of return for the non-taxable postretirement trust assets is determined using the same methodology described above for pension assets, but the asset allocation specific to the non-taxable postretirement assets is used.

For the taxable postretirement trust assets, the investment allocation includes tax-exempt fixed income securities.  This asset allocation in combination with the same methodology employed to determine the expected return for other trust assets (as described above), with a modification to reflect applicable taxes, is used to produce the expected long-term rate of return for taxable postretirement trust assets.

Concentrations of Credit Risk

Entergy’s investment guidelines mandate the avoidance of risk concentrations.  Types of concentrations specified to be avoided include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country, geographic area and individual security issuance.  As of December 31, 2014, all investment managers and assets were materially in compliance with the approved investment guidelines, therefore there were no significant concentrations (defined as greater than 10 percent of plan assets) of risk in Entergy’s pension and other postretirement benefit plan assets.

Fair Value Measurements

Accounting standards provide the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).

The three levels of the fair value hierarchy are described below:

• Level 1 - Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date.  Assets are valued based on prices derived by an independent party that uses inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.  Prices are reviewed and can be challenged with the independent parties and/or overridden if it is believed such would be more reflective of fair value.  Level 2 inputs include the following:

-     quoted prices for similar assets or liabilities in active markets;

-     quoted prices for identical assets or liabilities in inactive markets;

-     inputs other than quoted prices that are observable for the asset or liability; or

-     inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If an asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

• Level 3 - Level 3 refers to securities valued based on significant unobservable inputs.

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.  The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2014, and December 31, 2013, a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate.

Qualified Defined Benefit Pension Plan Trusts

Final Average Pay Pension Plans’ Trust

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$10,017	(b)		$—	(a)		$—		$10,017
Common	717,685		(b)	97			—		717,782
Common collective trusts	—			1,886,897		(c)	—		1,886,897
103-12 investment entities	—			259,995		(h)	—		259,995
Fixed income securities:
U.S. Government securities	240		(b)	400,059		(a)	—		400,299
Corporate debt instruments	—			548,788		(a)	—		548,788
Registered investment companies	286,534		(d)	576,641		(e)	—		863,175
Other	—			130,295		(f)	—		130,295
Other:
Insurance company general account (unallocated contracts)	—			37,818		(g)	—		37,818
Total investments		$1,014,476			$3,840,590			$—		$4,855,066
Cash									314
Other pending transactions									7,359
Less: Other postretirement assets included in total investments									(34,954		)
Total fair value of qualified pension assets										$4,827,785

Cash Balance Pension Plans’ Trust

The Cash Balance pension plans’ trust held $181 thousand of cash as of December 31, 2014.

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$6,847	(b)		$6,038	(a)		$—		$12,885
Common	915,996		(b)	—			—		915,996
Common collective trusts	—			1,753,958		(c)	—		1,753,958
Fixed income securities:
U.S. Government securities	180,718		(b)	152,915		(a)	—		333,633
Corporate debt instruments	—			464,652		(a)	—		464,652
Registered investment companies	316,863		(d)	486,748		(e)	—		803,611
Other	—			129,169		(f)	—		129,169
Other:
Insurance company general account (unallocated contracts)	—			36,886		(g)	—		36,886
Total investments		$1,420,424			$3,030,366			$—		$4,450,790
Cash									280
Other pending transactions									8,081
Less: Other postretirement assets included in total investments									(29,914		)
Total fair value of qualified    pension assets										$4,429,237

Other Postretirement Trusts

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$370,228	(c)		$—		$370,228
Fixed income securities:
U.S. Government securities	36,306		(b)	45,618		(a)	—		81,924
Corporate debt instruments	—			57,830		(a)	—		57,830
Registered investment companies	5,558		(d)	—			—		5,558
Other	—			46,968		(f)	—		46,968
Total investments		$41,864			$520,644			$—		$562,508
Other pending transactions									165
Plus:  Other postretirement assets included in the investments of the qualified pension trust									34,954
Total fair value of other postretirement assets										$597,627

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$356,700	(c)		$—		$356,700
Fixed income securities:
U.S. Government securities	40,808		(b)	43,471		(a)	—		84,279
Corporate debt instruments	—			50,563		(a)	—		50,563
Registered investment companies	4,163		(d)	—			—		4,163
Other	—			43,458		(f)	—		43,458
Total investments		$44,971			$494,192			$—		$539,163
Other pending transactions									773
Plus:  Other postretirement assets included in the investments of the qualified pension trust									29,914
Total fair value of other postretirement assets										$569,850

(a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes.

(b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices.

(c) The common collective trusts hold investments in accordance with stated objectives.  The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index.  Net asset value per share of the common collective trusts estimate fair value.

(d) The registered investment company is a money market mutual fund with a stable net asset value of one dollar per share.

(e) The registered investment company holds investments in domestic and international bond markets and estimates fair value using net asset value per share.

(f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes.

(g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value.  The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust.

(h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. Net asset value per share of the 103-12 investment entities estimate fair value.

Accumulated Pension Benefit Obligation

The accumulated benefit obligation for Entergy’s qualified pension plans was $6.6 billion and $5.2 billion at December 31, 2014 and 2013, respectively.

The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2014 and 2013 was as follows:

	December 31,
	2014		2013
	(In Thousands)
Entergy Arkansas		$1,379,108		$1,107,023
Entergy Gulf States Louisiana		$649,932		$530,974
Entergy Louisiana		$873,759		$697,945
Entergy Mississippi		$399,300		$318,941
Entergy New Orleans		$186,473		$150,239
Entergy Texas		$391,296		$332,484
System Energy		$305,556		$247,807

Estimated Future Benefit Payments

Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2014, and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows:

	Estimated Future Benefits Payments
	Qualified Pension		Non-Qualified Pension		Other Postretirement (before Medicare Subsidy)		Estimated Future Medicare Subsidy Receipts
	(In Thousands)
Year(s)
2015		$262,792		$16,173		$78,601		$455
2016		$277,307		$9,976		$80,601		$525
2017		$292,841		$10,774		$83,425		$595
2018		$310,200		$12,598		$88,049		$1,785
2019		$328,533		$11,431		$92,253		$1,984
2020 - 2024		$1,966,776		$70,791		$506,086		$13,539

Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows:

Estimated Future Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$66,156		$25,450		$37,892		$18,702		$7,397		$19,078		$11,432
2016		$67,639		$26,805		$39,070		$19,625		$7,836		$19,697		$11,949
2017		$69,207		$28,340		$40,675		$20,517		$8,304		$20,558		$12,357
2018		$71,306		$30,279		$42,336		$21,444		$8,895		$21,448		$12,977
2019		$73,795		$32,445		$44,058		$22,306		$9,368		$22,291		$13,724
2020 - 2024		$418,009		$196,323		$256,639		$125,761		$56,659		$125,001		$87,663

Estimated Future Non-Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
Year(s)
2015		$347		$241		$18		$119		$23		$753
2016		$300		$228		$17		$115		$23		$837
2017		$291		$241		$16		$124		$23		$784
2018		$282		$205		$15		$114		$23		$749
2019		$339		$199		$17		$112		$46		$720
2020 - 2024		$2,684		$924		$90		$825		$199		$3,442

Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy)	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$15,699		$8,921		$9,885		$3,926		$4,261		$6,617		$2,796
2016		$15,745		$9,219		$10,016		$4,001		$4,253		$6,785		$2,802
2017		$15,830		$9,580		$10,148		$4,125		$4,280		$7,012		$2,883
2018		$16,305		$10,110		$10,654		$4,433		$4,373		$7,438		$2,984
2019		$16,528		$10,706		$11,048		$4,599		$4,412		$7,771		$3,138
2020 - 2024		$86,854		$59,199		$60,735		$25,341		$21,584		$41,303		$17,664

Estimated Future Medicare Part D Subsidy	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$77		$37		$45		$29		$23		$34		$9
2016		$87		$41		$50		$32		$24		$37		$11
2017		$96		$46		$56		$34		$25		$40		$1
2018		$358		$168		$204		$125		$87		$142		$52
2019		$398		$184		$223		$136		$90		$151		$59
2020 - 2024		$2,593		$1,243		$1,434		$839		$506		$922		$456

Contributions

Entergy currently expects to contribute approximately $396 million to its qualified pension plans and approximately $66.9 million to other postretirement plans in 2015.  The expected 2015 pension and other postretirement plan contributions of the Registrant Subsidiaries for their employees are shown below.  The required pension contributions will not be known with more certainty until the January 1, 2015 valuations are completed by April 1, 2015.

The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2015:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Pension Contributions		$92,523		$32,455		$56,960		$22,472		$10,910		$17,166		$20,778
Other Postretirement Contributions		$16,904		$8,921		$9,885		$535		$3,669		$3,231		$475

Actuarial Assumptions

The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2014, and 2013 were as follows:

	2014	2013
Weighted-average discount rate:
Qualified pension	4.03% - 4.40% Blended 4.27%	5.04% - 5.26% Blended 5.14%
Other postretirement	4.23%	5.05%
Non-qualified pension	3.61%	4.29%
Weighted-average rate of increase in future compensation levels	4.23%	4.23%
Assumed health care trend rate:
Pre-65	7.10%	7.25%
Post-65	7.70%	7.00%
Ultimate rate	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2023	2022
Post-65	2023	2022

The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2014,  2013, and 2012 were as follows:

	2014	2013	2012
Weighted-average discount rate:
Qualified pension	5.04%-5.26% Blended 5.14%	4.31% - 4.5% Blended 4.36%	5.10% - 5.20% Blended 5.11%
Other postretirement	5.05%	4.36%	5.10%
Non-qualified pension	4.29%	3.37%	4.40%
Weighted-average rate of increase   in future compensation levels	4.23%	4.23%	4.23%
Expected long-term rate of   return on plan assets:
Pension assets	8.50%	8.50%	8.50%
Other postretirement tax deferred assets	8.30%	8.50%	8.50%
Other postretirement taxable assets	6.50%	6.50%	6.50%
Assumed health care trend rate:
Pre-65	7.25%	7.50%	7.75%
Post-65	7.00%	7.25%	7.50%
Ultimate rate	4.75%	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2022	2022	2022
Post-65	2022	2022	2022

Entergy’s other postretirement benefit transition obligations were amortized over 20 years ending in 2012.

With respect to mortality assumptions, Entergy used the RP-2014 Employee and Health Annuitant Tables, with a fully generational MP-2014 projection scale, in determining its December 31, 2014 pension plans’ PBOs and other postretirement benefit APBO. The mortality assumptions used in determining Entergy’s December 31, 2013 pension plans’ PBOs were the 1994 Group Annuity Mortality Table and RP 2000 Combined Health Mortality, with generational (using Scale AA) projected mortality improvement. The mortality assumption used in determining the December 31, 2013 other postretirement APBO was the 1994 Group Annuity Mortality Table, with generational (using Scale AA) projected mortality improvement.

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects: 

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase /(Decrease) (In Thousands)
Entergy Corporation and its   subsidiaries		$234,971		$16,769		($190,996	)		($13,566	)

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects for the Registrant Subsidiaries for their employees:

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase/(Decrease) (In Thousands)
Entergy Arkansas		$39,286		$2,448		($31,753	)		($1,971	)
Entergy Gulf States Louisiana		$27,929		$2,092		($22,591	)		($1,671	)
Entergy Louisiana		$23,779		$1,681		($19,452	)		($1,366	)
Entergy Mississippi		$10,596		$754		($8,596	)		($606	)
Entergy New Orleans		$6,373		$386		($5,317	)		($321	)
Entergy Texas		$16,246		$1,148		($13,397	)		($927	)
System Energy		$8,716		$734		($7,044	)		($586	)

Defined Contribution Plans

Entergy sponsors the Savings Plan of Entergy Corporation and Subsidiaries (System Savings Plan).  The System Savings Plan is a defined contribution plan covering eligible employees of Entergy and certain of its subsidiaries. The participating employing Entergy subsidiary makes matching contributions to the System Savings Plan for all eligible participating employees in an amount equal to either 70% or 100% of the participants’ basic contributions, up to 6% of their eligible earnings per pay period.  The matching contribution is allocated to investments as directed by the employee.

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 $43.3 million in 2014, $44.5 million in 2013, and $43.7 million in 2012.  The majority of the contributions were to the System Savings Plan.

The Registrant Subsidiaries’ 2014, 2013, and 2012 contributions to defined contribution plans for their employees were as follows:

Year	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$3,044		$1,867		$2,266		$1,855		$710		$1,563
2013		$3,351		$1,906		$2,393		$1,954		$769		$1,616
2012		$3,223		$1,842		$2,327		$1,875		$740		$1,601

Entergy Mississippi [Member]

Retirement And Other Postretirement Benefits

RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS  (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Qualified Pension Plans

Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment.  The “Entergy Corporation Retirement Plan III” is a final average pay plan that provides pension benefits that are based on employees’ credited service and compensation during the final years before retirement and includes a mandatory employee contribution of 3% of earnings during the first 10 years of plan participation, and allows voluntary contributions from 1% to 10% of earnings for a limited group of employees. Non-bargaining employees hired or rehired after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.”

The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy and the assets of the two cash balance pension plans are held in a second master trust established by Entergy.  Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee.  Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes.  Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust.  The fair value of the trusts’ assets is determined by the trustee and certain investment managers.  For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis.

Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly.  Assets for each Registrant Subsidiary are increased for investment income and contributions, and are decreased for benefit payments.  A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter.

Entergy Corporation and its subsidiaries fund pension costs in accordance with contribution guidelines established by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended.  The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts.  The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions.

Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI)

Entergy Corporation and its subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components:

	2014			2013			2012
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$140,436			$172,280			$150,763
Interest cost on projected benefit obligation	290,076			263,296			260,929
Expected return on assets	(361,462		)	(328,227		)	(317,423		)
Amortization of prior service cost	1,600			2,125			2,733
Recognized net loss	145,095			213,194			167,279
Curtailment loss	—			16,318			—
Special termination benefit	732			13,139			—
Net periodic pension costs		$216,477			$352,125			$264,281
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net (gain)/loss		$1,389,912			($894,150	)		$552,303
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(1,600		)	(2,125		)	(2,733		)
Acceleration of prior service cost to curtailment	—			(1,307		)	—
Amortization of net loss	(145,095		)	(213,194		)	(167,279		)
Total	1,243,217			(1,110,776		)	382,291
Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax)		$1,459,694			($758,651	)		$646,572
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year:
Prior service cost		$1,561			$1,600			$2,268
Net loss		$237,013			$146,958			$219,805

The Registrant Subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States  Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$20,090			$11,524			$14,182			$6,094			$2,666			$5,142			$5,785
Interest cost on projected benefit obligation	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Expected return on assets	(73,218		)	(37,950		)	(45,796		)	(22,794		)	(10,019		)	(23,723		)	(16,619		)
Amortization of prior service cost	—			—			—			—			—			—			2
Recognized net loss	35,956			15,923			24,523			9,415			5,796			9,356			9,500
Net pension cost		$42,365			$18,611			$30,779			$9,988			$6,607			$8,521			$12,229
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$300,907			$125,090			$193,842			$88,199			$38,161			$65,363			$60,763
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	—			—			—			—			—			—			(2		)
Amortization of net loss	(35,956		)	(15,923		)	(24,523		)	(9,415		)	(5,796		)	(9,356		)	(9,500		)
Total		$264,951			$109,167			$169,319			$78,784			$32,365			$56,007			$51,261
Total recognized as net periodic pension income regulatory asset, and/or AOCI (before tax)		$307,316			$127,778			$200,098			$88,772			$38,972			$64,528			$63,490
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Net loss		$54,254			$23,098			$36,704			$14,896			$8,053			$12,950			$13,055

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$25,229			$14,258			$17,044			$7,295			$3,264			$6,475			$7,242
Interest cost on projected benefit obligation	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Expected return on assets	(66,951		)	(34,982		)	(41,948		)	(21,139		)	(9,117		)	(22,277		)	(17,249		)
Amortization of prior service cost	23			9			83			10			2			6			9
Recognized net loss	49,517			23,374			34,107			13,189			7,878			13,302			9,560
Curtailment loss	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Net pension cost		$69,013			$31,013			$49,316			$16,283			$10,413			$16,223			$13,702
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net gain		($177,105	)		($98,610	)		($123,234	)		($52,525	)		($25,419	)		($55,772	)		($35,511	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(23		)	(9		)	(83		)	(10		)	(2		)	(6		)	(9		)
Amortization of net loss	(49,517		)	(23,374		)	(34,107		)	(13,189		)	(7,878		)	(13,302		)	(9,560		)
Total		($226,645	)		($121,993	)		($157,424	)		($65,724	)		($33,299	)		($69,080	)		($45,080	)
Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax)		($157,632	)		($90,980	)		($108,108	)		($49,441	)		($22,886	)		($52,857	)		($31,378	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$—			$—			$—			$—			$—			$—			$2
Net loss		$35,984			$15,935			$24,360			$9,421			$5,802			$9,363			$9,510

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$22,169			$12,273			$14,675			$6,410			$2,824			$5,684			$5,920
Interest cost on projected benefit obligation	55,686			25,679			35,201			16,279			7,608			16,823			12,987
Expected return on assets	(65,763		)	(34,370		)	(40,836		)	(20,945		)	(8,860		)	(22,325		)	(16,436		)
Amortization of prior service cost	200			19			208			30			7			15			13
Recognized net loss	40,772			16,173			28,197			10,532			6,878			10,179			9,001
Net pension cost		$53,064			$19,774			$37,445			$12,306			$8,457			$10,376			$11,485
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$105,133			$77,207			$76,163			$27,106			$14,282			$28,745			$10,266
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(200		)	(19		)	(208		)	(30		)	(7		)	(15		)	(13		)
Amortization of net loss	(40,772		)	(16,173		)	(28,197		)	(10,532		)	(6,878		)	(10,179		)	(9,001		)
Total		$64,161			$61,015			$47,758			$16,544			$7,397			$18,551			$1,252
Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax)		$117,225			$80,789			$85,203			$28,850			$15,854			$28,927			$12,737
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$23			$9			$83			$10			$2			$6			$10
Net loss		$50,175			$23,731			$34,906			$13,375			$8,046			$13,494			$9,717

Qualified PensionObligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet for Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$5,770,999			$6,096,639
Service cost	140,436			172,280
Interest cost	290,076			263,296
Curtailment	—			15,011
Special termination benefit	732			13,139
Actuarial loss/(gain)	1,284,049			(571,990		)
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Balance at end of year		$7,230,542			$5,770,999
Change in Plan Assets
Fair value of assets at beginning of year		$4,429,237			$3,832,860
Actual return on plan assets	255,599			650,386
Employer contributions	398,880			163,367
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Fair value of assets at end of year		$4,827,966			$4,429,237
Funded status		($2,402,576	)		($1,341,762	)
Amount recognized in the balance sheet
Non-current liabilities		($2,402,576	)		($1,341,762	)
Amount recognized as a regulatory asset
Prior service cost		$3,704			$5,027
Net loss	2,451,172			1,494,117
		$2,454,876			$1,499,144
Amount recognized as AOCI (before tax)
Prior service cost		$1,015			$1,292
Net loss	671,682			383,920
		$672,697			$385,212

Qualified Pension Obligations, Plan Assets, Funded Status, and Amounts Recognized in the Balance Sheet for the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Service cost	20,090			11,524			14,182			6,094			2,666			5,142			5,785
Interest cost	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Actuarial loss	279,781			113,883			180,763			81,600			35,131			58,556			55,410
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Balance at end of year		$1,485,718			$709,994			$956,541			$432,169			$202,555			$418,498			$334,312
Change in Plan Assets
Fair value of assets at beginning of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Actual return on plan assets	52,092			26,744			32,716			16,196			6,988			16,916			11,265
Employer contributions	95,464			30,176			54,549			21,839			10,509			17,072			21,261
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Fair value of assets at end of year		$977,521			$501,826			$611,533			$301,250			$133,344			$310,713			$217,621
Funded status		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized as  regulatory asset
Net loss		$722,119			$272,695			$468,779			$198,972			$102,141			$176,522			$172,463
Amounts recognized as AOCI (before tax)
Net loss		$—			$40,748			$—			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,274,886			$623,068			$817,745			$369,852			$174,585			$382,176			$282,841
Service cost	25,229			14,258			17,044			7,295			3,264			6,475			7,242
Interest cost	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Curtailment	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Actuarial gain	(110,943		)	(64,119		)	(80,794		)	(31,684		)	(16,276		)	(33,792		)	(23,882		)
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Balance at end of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Change in Plan Assets
Fair value of assets at beginning of year		$785,527			$409,971			$489,027			$248,272			$106,778			$262,110			$168,697
Actual return on plan assets	133,113			69,473			84,388			41,980			18,259			44,257			28,878
Employer contributions	35,382			11,550			21,152			8,152			4,175			6,880			8,305
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Fair value of assets at end of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Funded status		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized as  regulatory asset
Prior service cost		$—			$—			($1	)		$—			$—			$—			($4	)
Net loss	457,485			178,990			299,740			120,290			69,856			120,619			121,327
		$457,485			$178,990			$299,739			$120,290			$69,856			$120,619			$121,323
Amounts recognized as AOCI  (before tax)
Net loss		$—			$25,437			$—			$—			$—			$—			$—

Other Postretirement Benefits

Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees.  Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits.

In December 2013, Entergy announced changes to its other postretirement benefits which include, among other things, elimination of other postretirement benefits for all non-bargaining employees hired or rehired after June 30, 2014 and for certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreement, and setting a dollar limit cap on Entergy’s contribution to retiree medical costs, effective 2019 for those non-bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 and for certain bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 or such later date as provided for in their applicable collective bargaining agreement. In accordance with accounting standards, certain of the other postretirement benefit changes have been reflected in the December 31, 2013 other postretirement obligation. The changes affecting active bargaining unit employees are being negotiated with the unions prior to implementation, where necessary, and to the extent required by law.

Entergy uses a December 31 measurement date for its postretirement benefit plans.

Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions.  At January 1, 1993, the actuarially determined accumulated postretirement benefit obligation (APBO) earned by retirees and active employees was estimated to be approximately $241.4 million for Entergy (other than the former Entergy Gulf States) and $128 million for the former Entergy Gulf States (now split into Entergy Gulf States Louisiana and Entergy Texas).  Such obligations were being amortized over a 20-year period that began in 1993 and ended in 2012.  For the most part, the Registrant Subsidiaries recover accrued other postretirement benefit costs from customers and are required to contribute the other postretirement benefits collected in rates to an external trust.

Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates.  Entergy Arkansas began recovery in 1998, pursuant to an APSC order.  This order also allowed Entergy Arkansas to amortize a regulatory asset (representing the difference between other postretirement benefit costs and cash expenditures for other postretirement benefits incurred from 1993 through 1997) over a 15-year period that began in January 1998 and ended in December 2012.

The LPSC ordered Entergy Gulf States Louisiana and Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions.  However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted.

Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts.  System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf.

Trust assets contributed by participating Registrant Subsidiaries are in bank-administered master trusts, established by Entergy Corporation and maintained by a trustee.  Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets.  The assets in the master trusts are commingled for investment and administrative purposes.  Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses.  Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts.

Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI

Entergy Corporation’s and its subsidiaries’ total 2014, 2013, and 2012 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components:

	2014			2013			2012
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$43,493			$74,654			$68,883
Interest cost on APBO	71,841			79,453			82,561
Expected return on assets	(44,787		)	(40,323		)	(34,503		)
Amortization of transition obligation	—			—			3,177
Amortization of prior service credit	(31,590		)	(14,904		)	(18,163		)
Recognized net loss	11,143			44,178			36,448
Curtailment loss	—			12,729			—
Net other postretirement benefit cost		$50,100			$155,787			$138,403
Other changes in plan assets and benefit  obligations recognized as a regulatory asset  and /or AOCI (before tax)
Arising this period:
Prior service credit for period		($35,864	)		($116,571	)		$—
Net loss/(gain)	287,313			(405,976		)	92,584
Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year:
Amortization of transition obligation	—			—			(3,177		)
Amortization of prior service credit	31,590			14,904			18,163
Acceleration of prior service credit due to curtailment	—			1,989			—
Amortization of net loss	(11,143		)	(44,178		)	(36,448		)
Total		$271,896			($549,832	)		$71,122
Total recognized as net periodic benefit income/(cost),  regulatory asset, and/or AOCI (before tax)		$321,996			($394,045	)		$209,525
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic  benefit cost  in the following year
Prior service credit		($37,280	)		($31,589	)		($13,336	)
Net loss		$31,591			$11,197			$45,217

Total 2014, 2013, and 2012 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$5,957			$4,896			$4,518			$1,900			$868			$2,378			$2,058
Interest cost on APBO	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Expected return on assets	(19,135		)	—			—			(5,771		)	(4,475		)	(10,358		)	(3,727		)
Amortization of prior credit	(2,441		)	(2,237		)	(3,377		)	(915		)	(709		)	(1,300		)	(824		)
Recognized net loss	1,267			1,212			1,511			149			56			801			443
Net other postretirement benefit (income)/cost		($2,091	)		$12,249			$10,916			($982	)		($1,455	)		($2,827	)		$561
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		$—			($12,845	)		$—			$—			$—			($8,536	)		($3,845	)
Net loss		$55,642			$36,467			$24,582			$9,525			$6,309			$24,482			$10,596
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	2,441			2,237			3,377			915			709			1,300			824
Amortization of net loss	(1,267		)	(1,212		)	(1,511		)	(149		)	(56		)	(801		)	(443		)
Total		$56,816			$24,647			$26,448			$10,291			$6,962			$16,445			$7,132
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$54,725			$36,896			$37,364			$9,309			$5,507			$13,618			$7,693
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($4,086	)		($3,381	)		($916	)		($709	)		($2,723	)		($1,465	)
Net loss		$5,356			$3,908			$3,210			$860			$470			$2,740			$1,198

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,619			$7,910			$8,541			$3,246			$1,752			$3,760			$3,580
Interest cost on APBO	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Expected return on assets	(16,843		)	—			—			(5,335		)	(4,101		)	(9,391		)	(3,350		)
Amortization of prior credit	(689		)	(942		)	(508		)	(204		)	(24		)	(501		)	(126		)
Recognized net loss	7,976			4,598			5,050			2,534			1,509			3,744			1,896
Curtailment loss	4,517			1,546			1,848			596			354			1,436			760
Net other postretirement benefit cost		$18,125			$22,076			$24,341			$5,126			$2,625			$5,124			$5,705
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		($11,617	)		($8,705	)		($18,844	)		($4,714	)		($4,469	)		($5,359	)		($4,591	)
Net loss		($81,236	)		($40,938	)		($43,743	)		($30,018	)		($18,508	)		($34,562	)		($17,579	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	689			942			508			204			24			501			126
Acceleration of prior service credit/(cost) due to curtailment	78			91			41			20			(4		)	62			9
Amortization of net loss	(7,976		)	(4,598		)	(5,050		)	(2,534		)	(1,509		)	(3,744		)	(1,896		)
Total		($100,062	)		($53,208	)		($67,088	)		($37,042	)		($24,466	)		($43,102	)		($23,931	)
Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax)		($81,937	)		($31,132	)		($42,747	)		($31,916	)		($21,841	)		($37,978	)		($18,226	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($2,236	)		($3,376	)		($918	)		($709	)		($1,301	)		($824	)
Net loss		$1,267			$1,212			$1,511			$149			$56			$800			$464

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,089			$7,521			$7,796			$3,093			$1,689			$3,651			$3,293
Interest cost on APBO	14,452			9,590			9,781			4,716			3,422			6,650			3,028
Expected return on assets	(14,029		)	—			—			(4,521		)	(3,711		)	(8,415		)	(2,601		)
Amortization of transition obligation	820			238			382			351			1,189			187			8
Amortization of prior service cost/(credit)	(530		)	(824		)	(247		)	(139		)	38			(428		)	(63		)
Recognized net loss	8,305			4,737			4,359			2,920			1,559			4,320			1,970
Net other postretirement benefit cost		$18,107			$21,262			$22,071			$6,420			$4,186			$5,965			$5,635
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$9,066			$5,818			$16,215			$271			$2,260			$191			$2,043
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of transition obligation	(820		)	(238		)	(382		)	(351		)	(1,189		)	(187		)	(8		)
Amortization of prior service (cost)/credit	530			824			247			139			(38		)	428			63
Amortization of net loss	(8,305		)	(4,737		)	(4,359		)	(2,920		)	(1,559		)	(4,320		)	(1,970		)
Total		$471			$1,667			$11,721			($2,861	)		($526	)		($3,888	)		$128
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$18,578			$22,929			$33,792			$3,559			$3,660			$2,077			$5,763
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service cost/(credit)		($530	)		($824	)		($247	)		($139	)		$38			($428	)		($62	)
Net loss		$8,163			$4,693			$5,149			$2,650			$1,587			$3,905			$1,915

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet of Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in APBO
Balance at beginning of year		$1,461,910			$1,846,922
Service cost	43,493			74,654
Interest cost	71,841			79,453
Plan amendments	(35,864		)	(116,571		)
Curtailment	—			14,718
Plan participant contributions	22,160			19,141
Actuarial loss/(gain)	274,061			(370,004		)
Benefits paid	(102,439		)	(89,713		)
Medicare Part D subsidy received	4,395			3,310
Balance at end of year		$1,739,557			$1,461,910
Change in Plan Assets
Fair value of assets at beginning of year		$569,850			$488,448
Actual return on plan assets	31,535			76,314
Employer contributions	76,521			75,660
Plan participant contributions	22,160			19,141
Benefits paid	(102,439		)	(89,713		)
Fair value of assets at end of year		$597,627			$569,850
Funded status		($1,141,930	)		($892,060	)
Amounts recognized in the balance sheet
Current liabilities		($41,821	)		($40,602	)
Non-current liabilities	(1,100,109		)	(851,458		)
Total funded status		($1,141,930	)		($892,060	)
Amounts recognized as a regulatory asset
Prior service credit		($54,508	)		($93,332	)
Net loss	248,918			165,270
		$194,410			$71,938
Amounts recognized as AOCI (before tax)
Prior service credit		($104,086	)		($60,988	)
Net loss	300,518			107,996
		$196,432			$47,008

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Service cost	5,957			4,896			4,518			1,900			868			2,378			2,058
Interest cost	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Plan amendments	—			(12,845		)	—			—			—			(8,536		)	(3,845		)
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Actuarial loss	49,573			36,467			24,582			7,939			5,097			21,471			9,524
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Medicare Part D subsidy received	980			520			654			322			222			440			152
Balance at end of year		$303,716			$199,409			$195,537			$83,162			$63,779			$130,145			$60,754
Change in Plan Assets
Fair value of assets at beginning of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Actual return on plan assets	13,066			—			—			4,185			3,263			7,347			2,655
Employer contributions	15,251			8,309			11,245			8,505			4,289			3,446			334
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Fair value of assets at end of year		$244,191			$—			$—			$80,935			$71,004			$135,733			$48,293
Funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,884	)		($9,840	)		$—			$—			$—			$—
Non-current liabilities	(59,525		)	(190,525		)	(185,697		)	(2,227		)	7,225			5,588			(12,461		)
Total funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in regulatory asset
Prior service credit		($10,555	)		$—			$—			($4,141	)		($3,626	)		($13,741	)		($7,723	)
Net loss	94,647			—			—			18,680			12,738			46,453			20,450
		$84,092			$—			$—			$14,539			$9,112			$32,712			$12,727
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($20,967	)		($16,013	)		$—			$—			$—			$—
Net loss	—			66,832			58,072			—			—			—			—
		$—			$45,865			$42,059			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$315,308			$207,987			$220,017			$100,508			$74,200			$142,114			$67,934
Service cost	9,619			7,910			8,541			3,246			1,752			3,760			3,580
Interest cost	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Plan amendments	(11,617		)	(8,705		)	(18,844		)	(4,714		)	(4,469		)	(5,359		)	(4,591		)
Curtailment	4,595			1,637			1,889			616			350			1,498			769
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Actuarial gain	(67,253		)	(40,941		)	(43,747		)	(25,527		)	(13,739		)	(26,048		)	(14,639		)
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Medicare Part D subsidy received	737			410			513			245			194			334			105
Balance at end of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Change in Plan Assets
Fair value of assets at beginning of year		$194,018			$—			$—			$62,951			$58,651			$115,824			$39,474
Actual return on plan assets	30,830			—			—			9,826			8,870			17,905			6,292
Employer contributions	21,015			6,960			9,015			4,785			2,567			4,846			5,387
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Fair value of assets at end of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,803	)		($10,249	)		$—			$—			$—			$—
Non-current liabilities	(19,071		)	(161,499		)	(158,515		)	(1,101		)	8,665			16,200			(4,950		)
Total funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in regulatory asset
Prior service credit		($12,996	)		$—			$—			($5,056	)		($4,335	)		($6,505	)		($4,702	)
Net loss	40,272			—			—			9,304			6,485			22,772			10,297
		$27,276			$—			$—			$4,248			$2,150			$16,267			$5,595
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($10,359	)		($19,390	)		$—			$—			$—			$—
Net loss	—			31,577			35,001			—			—			—			—
		$—			$21,218			$15,611			$—			$—			$—			$—

Non-Qualified Pension Plans

Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  Entergy recognized net periodic pension cost related to these plans of $32.4 million in 2014, $54.5 million in 2013, and $26.5 million in 2012.  In 2014, 2013, and 2012 Entergy recognized $15.1 million, $33 million, and $6.3 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above.  The projected benefit obligation was $151.8 million and $154.3 million as of December 31, 2014 and 2013, respectively.  The accumulated benefit obligation was $130.6 million and $131.4 million as of December 31, 2014 and 2013, respectively.

Entergy’s non-qualified, non-current pension liability at December 31, 2014 and 2013 was $135.6 million and $127.5 million, respectively; and its current liability was $16.2 million and $26.8 million, respectively.  The unamortized prior service cost and net loss are recognized in regulatory assets ($60.3 million at December 31, 2014 and $59.1 million at December 31, 2013) and accumulated other comprehensive income before taxes ($23.5 million at December 31, 2014 and $26.1 million at December 31, 2013).

The Registrant Subsidiaries (except System Energy) participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  The net periodic pension cost for their employees for the non-qualified plans for 2014, 2013, and 2012, was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$754		$130		$5		$190		$95		$491
2013		$448		$151		$12		$192		$92		$1,001
2012		$464		$158		$12		$183		$79		$648

Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2013 net periodic pension cost above are settlement charges of $415 thousand for Entergy Texas related to the lump sum benefits paid out of the plan.  Included in the 2012 net periodic pension cost above are settlement charges of $38 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan.  

The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,495		$2,693		$158		$2,128		$476		$9,567
2013		$4,162		$2,511		$50		$1,752		$434		$7,910

The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,086		$2,693		$131		$1,761		$436		$9,215
2013		$3,765		$2,510		$50		$1,528		$387		$7,496

The following amounts were recorded on the balance sheet as of December 31, 2014 and 2013:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($347	)		($241	)		($18	)		($119	)		($23	)		($753	)
Non-current liabilities	(4,148		)	(2,452		)	(140		)	(2,009		)	(453		)	(8,814		)
Total funded status		($4,495	)		($2,693	)		($158	)		($2,128	)		($476	)		($9,567	)
Regulatory asset/(liability)		$2,368			$659			$37			$942			($65	)		$296
Accumulated other comprehensive income (before taxes)		$—			$98			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($367	)		($262	)		($6	)		($118	)		($20	)		($786	)
Non-current liabilities	(3,795		)	(2,249		)	(44		)	(1,634		)	(414		)	(7,124		)
Total funded status		($4,162	)		($2,511	)		($50	)		($1,752	)		($434	)		($7,910	)
Regulatory asset/(liability)		$1,979			$422			($87	)		$637			($18	)		($1,631	)
Accumulated other comprehensive income (before taxes)		$—			$57			$—			$—			$—			$—

Reclassification out of Accumulated Other Comprehensive Income

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2014:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,559	)		$22,280			($427	)		$20,294
Amortization of loss	(26,934		)	(6,689		)	(2,213		)	(35,836		)
Settlement loss	—			—			(3,643		)	(3,643		)
		($28,493	)		$15,591			($6,283	)		($19,185	)
Entergy Gulf States Louisiana
Amortization of prior service cost		$—			$2,237			$—			$2,237
Amortization of loss	(1,911		)	(1,212		)	(3		)	(3,126		)
		($1,911	)		$1,025			($3	)		($889	)
Entergy Louisiana
Amortization of prior service cost		$—			$3,377			$—			$3,377
Amortization of loss	—			(1,511		)	—			(1,511		)
		$—			$1,866			$—			$1,866

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2013:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,866	)		$12,925			($503	)		$10,556
Acceleration of prior service cost due to curtailment	(1,304		)	1,797			(178		)	315
Amortization of loss	(43,971		)	(21,590		)	(2,569		)	(68,130		)
Settlement loss	—			—			(11,612		)	(11,612		)
		($47,141	)		($6,868	)		($14,862	)		($68,871	)
Entergy Gulf States Louisiana
Amortization of prior service cost		($1	)		$942			$—			$941
Acceleration of prior service cost due to curtailment	—			91			—			91
Amortization of loss	(3,039		)	(4,598		)	(7		)	(7,644		)
		($3,040	)		($3,565	)		($7	)		($6,612	)
Entergy Louisiana
Amortization of prior service cost		$—			$508			$—			$508
Acceleration of prior service cost due to curtailment	—			41			—			41
Amortization of loss	—			(5,050		)	—			(5,050		)
		$—			($4,501	)		$—			($4,501	)

Accounting for Pension and Other Postretirement Benefits

Accounting standards require an employer to recognize in its balance sheet the funded status of its benefit plans.  This is measured as the difference between plan assets at fair value and the benefit obligation.  Entergy uses a December 31 measurement date for its pension and other postretirement plans.  Employers are to record previously unrecognized gains and losses, prior service costs, and any remaining transition asset or obligation (that resulted from adopting prior pension and other postretirement benefits accounting standards) as comprehensive income and/or as a regulatory asset reflective of the recovery mechanism for pension and other postretirement benefit costs in the Registrant Subsidiaries’ respective regulatory jurisdictions.  For the portion of Entergy Gulf States Louisiana that is not regulated, the unrecognized prior service cost, gains and losses, and transition asset/obligation for its pension and other postretirement benefit obligations are recorded as other comprehensive income.  Entergy Gulf States Louisiana and Entergy Louisiana recover other postretirement benefit costs on a pay-as-you-go basis and record the unrecognized prior service cost, gains and losses, and transition obligation for its other postretirement benefit obligation as other comprehensive income.  Accounting standards also require that changes in the funded status be recorded as other comprehensive income and/or a regulatory asset in the period in which the changes occur.

With regard to pension and other postretirement costs, Entergy calculates the expected return on pension and other postretirement benefit plan assets by multiplying the long-term expected rate of return on assets by the market-related value (MRV) of plan assets.  Entergy determines the MRV of pension plan assets by calculating a value that uses a 20-quarter phase-in of the difference between actual and expected returns.  For other postretirement benefit plan assets Entergy uses fair value when determining MRV.

Qualified Pension and Other Postretirement Plans’ Assets

The Plan Administrator’s trust asset investment strategy is to invest the assets in a manner whereby long-term earnings on the assets (plus cash contributions) provide adequate funding for retiree benefit payments.  The mix of assets is based on an optimization study that identifies asset allocation targets in order to achieve the maximum return for an acceptable level of risk, while minimizing the expected contributions and pension and postretirement expense.

In the optimization studies, the Plan Administrator formulates assumptions about characteristics, such as expected asset class investment returns, volatility (risk), and correlation coefficients among the various asset classes.  The future market assumptions used in the optimization study are determined by examining historical market characteristics of the various asset classes and making adjustments to reflect future conditions expected to prevail over the study period.  

The target asset allocation for pension adjusts dynamically based on the pension plans' funded status. The current targets are shown below. The expectation is that the allocation to fixed income securities will increase as the pension plans' funded status increases. The following ranges were established to produce an acceptable, economically efficient plan to manage around the targets. 

The target and range asset allocation for postretirement assets reflects changes made in 2012 as recommended in the latest optimization study.

Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2014 and 2013 and the target asset allocation and ranges are as follows:

Pension Asset Allocation	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	45%	34%	to	53%	45%	46%
International Equity Securities	20%	16%	to	24%	19%	20%
Fixed Income Securities	35%	31%	to	41%	35%	33%
Other	0%	0%	to	10%	1%	1%

Postretirement Asset Allocation	Non-Taxable and Taxable
	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	39%	34%	to	44%	42%	40%
International Equity Securities	26%	21%	to	31%	25%	26%
Fixed Income Securities	35%	30%	to	40%	33%	34%
Other	0%	0%	to	5%	0%	0%

In determining its expected long-term rate of return on plan assets used in the calculation of benefit plan costs, Entergy reviews past performance, current and expected future asset allocations, and capital market assumptions of its investment consultant and some investment managers.

The expected long-term rate of return for the qualified pension plans’ assets is based primarily on the geometric average of the historical annual performance of a representative portfolio weighted by the target asset allocation defined in the table above, along with other indications of expected return on assets. The time period reflected is a long dated period spanning several decades.

The expected long-term rate of return for the non-taxable postretirement trust assets is determined using the same methodology described above for pension assets, but the asset allocation specific to the non-taxable postretirement assets is used.

For the taxable postretirement trust assets, the investment allocation includes tax-exempt fixed income securities.  This asset allocation in combination with the same methodology employed to determine the expected return for other trust assets (as described above), with a modification to reflect applicable taxes, is used to produce the expected long-term rate of return for taxable postretirement trust assets.

Concentrations of Credit Risk

Entergy’s investment guidelines mandate the avoidance of risk concentrations.  Types of concentrations specified to be avoided include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country, geographic area and individual security issuance.  As of December 31, 2014, all investment managers and assets were materially in compliance with the approved investment guidelines, therefore there were no significant concentrations (defined as greater than 10 percent of plan assets) of risk in Entergy’s pension and other postretirement benefit plan assets.

Fair Value Measurements

Accounting standards provide the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).

The three levels of the fair value hierarchy are described below:

• Level 1 - Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date.  Assets are valued based on prices derived by an independent party that uses inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.  Prices are reviewed and can be challenged with the independent parties and/or overridden if it is believed such would be more reflective of fair value.  Level 2 inputs include the following:

-     quoted prices for similar assets or liabilities in active markets;

-     quoted prices for identical assets or liabilities in inactive markets;

-     inputs other than quoted prices that are observable for the asset or liability; or

-     inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If an asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

• Level 3 - Level 3 refers to securities valued based on significant unobservable inputs.

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.  The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2014, and December 31, 2013, a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate.

Qualified Defined Benefit Pension Plan Trusts

Final Average Pay Pension Plans’ Trust

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$10,017	(b)		$—	(a)		$—		$10,017
Common	717,685		(b)	97			—		717,782
Common collective trusts	—			1,886,897		(c)	—		1,886,897
103-12 investment entities	—			259,995		(h)	—		259,995
Fixed income securities:
U.S. Government securities	240		(b)	400,059		(a)	—		400,299
Corporate debt instruments	—			548,788		(a)	—		548,788
Registered investment companies	286,534		(d)	576,641		(e)	—		863,175
Other	—			130,295		(f)	—		130,295
Other:
Insurance company general account (unallocated contracts)	—			37,818		(g)	—		37,818
Total investments		$1,014,476			$3,840,590			$—		$4,855,066
Cash									314
Other pending transactions									7,359
Less: Other postretirement assets included in total investments									(34,954		)
Total fair value of qualified pension assets										$4,827,785

Cash Balance Pension Plans’ Trust

The Cash Balance pension plans’ trust held $181 thousand of cash as of December 31, 2014.

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$6,847	(b)		$6,038	(a)		$—		$12,885
Common	915,996		(b)	—			—		915,996
Common collective trusts	—			1,753,958		(c)	—		1,753,958
Fixed income securities:
U.S. Government securities	180,718		(b)	152,915		(a)	—		333,633
Corporate debt instruments	—			464,652		(a)	—		464,652
Registered investment companies	316,863		(d)	486,748		(e)	—		803,611
Other	—			129,169		(f)	—		129,169
Other:
Insurance company general account (unallocated contracts)	—			36,886		(g)	—		36,886
Total investments		$1,420,424			$3,030,366			$—		$4,450,790
Cash									280
Other pending transactions									8,081
Less: Other postretirement assets included in total investments									(29,914		)
Total fair value of qualified    pension assets										$4,429,237

Other Postretirement Trusts

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$370,228	(c)		$—		$370,228
Fixed income securities:
U.S. Government securities	36,306		(b)	45,618		(a)	—		81,924
Corporate debt instruments	—			57,830		(a)	—		57,830
Registered investment companies	5,558		(d)	—			—		5,558
Other	—			46,968		(f)	—		46,968
Total investments		$41,864			$520,644			$—		$562,508
Other pending transactions									165
Plus:  Other postretirement assets included in the investments of the qualified pension trust									34,954
Total fair value of other postretirement assets										$597,627

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$356,700	(c)		$—		$356,700
Fixed income securities:
U.S. Government securities	40,808		(b)	43,471		(a)	—		84,279
Corporate debt instruments	—			50,563		(a)	—		50,563
Registered investment companies	4,163		(d)	—			—		4,163
Other	—			43,458		(f)	—		43,458
Total investments		$44,971			$494,192			$—		$539,163
Other pending transactions									773
Plus:  Other postretirement assets included in the investments of the qualified pension trust									29,914
Total fair value of other postretirement assets										$569,850

(a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes.

(b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices.

(c) The common collective trusts hold investments in accordance with stated objectives.  The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index.  Net asset value per share of the common collective trusts estimate fair value.

(d) The registered investment company is a money market mutual fund with a stable net asset value of one dollar per share.

(e) The registered investment company holds investments in domestic and international bond markets and estimates fair value using net asset value per share.

(f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes.

(g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value.  The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust.

(h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. Net asset value per share of the 103-12 investment entities estimate fair value.

Accumulated Pension Benefit Obligation

The accumulated benefit obligation for Entergy’s qualified pension plans was $6.6 billion and $5.2 billion at December 31, 2014 and 2013, respectively.

The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2014 and 2013 was as follows:

	December 31,
	2014		2013
	(In Thousands)
Entergy Arkansas		$1,379,108		$1,107,023
Entergy Gulf States Louisiana		$649,932		$530,974
Entergy Louisiana		$873,759		$697,945
Entergy Mississippi		$399,300		$318,941
Entergy New Orleans		$186,473		$150,239
Entergy Texas		$391,296		$332,484
System Energy		$305,556		$247,807

Estimated Future Benefit Payments

Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2014, and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows:

	Estimated Future Benefits Payments
	Qualified Pension		Non-Qualified Pension		Other Postretirement (before Medicare Subsidy)		Estimated Future Medicare Subsidy Receipts
	(In Thousands)
Year(s)
2015		$262,792		$16,173		$78,601		$455
2016		$277,307		$9,976		$80,601		$525
2017		$292,841		$10,774		$83,425		$595
2018		$310,200		$12,598		$88,049		$1,785
2019		$328,533		$11,431		$92,253		$1,984
2020 - 2024		$1,966,776		$70,791		$506,086		$13,539

Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows:

Estimated Future Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$66,156		$25,450		$37,892		$18,702		$7,397		$19,078		$11,432
2016		$67,639		$26,805		$39,070		$19,625		$7,836		$19,697		$11,949
2017		$69,207		$28,340		$40,675		$20,517		$8,304		$20,558		$12,357
2018		$71,306		$30,279		$42,336		$21,444		$8,895		$21,448		$12,977
2019		$73,795		$32,445		$44,058		$22,306		$9,368		$22,291		$13,724
2020 - 2024		$418,009		$196,323		$256,639		$125,761		$56,659		$125,001		$87,663

Estimated Future Non-Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
Year(s)
2015		$347		$241		$18		$119		$23		$753
2016		$300		$228		$17		$115		$23		$837
2017		$291		$241		$16		$124		$23		$784
2018		$282		$205		$15		$114		$23		$749
2019		$339		$199		$17		$112		$46		$720
2020 - 2024		$2,684		$924		$90		$825		$199		$3,442

Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy)	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$15,699		$8,921		$9,885		$3,926		$4,261		$6,617		$2,796
2016		$15,745		$9,219		$10,016		$4,001		$4,253		$6,785		$2,802
2017		$15,830		$9,580		$10,148		$4,125		$4,280		$7,012		$2,883
2018		$16,305		$10,110		$10,654		$4,433		$4,373		$7,438		$2,984
2019		$16,528		$10,706		$11,048		$4,599		$4,412		$7,771		$3,138
2020 - 2024		$86,854		$59,199		$60,735		$25,341		$21,584		$41,303		$17,664

Estimated Future Medicare Part D Subsidy	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$77		$37		$45		$29		$23		$34		$9
2016		$87		$41		$50		$32		$24		$37		$11
2017		$96		$46		$56		$34		$25		$40		$1
2018		$358		$168		$204		$125		$87		$142		$52
2019		$398		$184		$223		$136		$90		$151		$59
2020 - 2024		$2,593		$1,243		$1,434		$839		$506		$922		$456

Contributions

Entergy currently expects to contribute approximately $396 million to its qualified pension plans and approximately $66.9 million to other postretirement plans in 2015.  The expected 2015 pension and other postretirement plan contributions of the Registrant Subsidiaries for their employees are shown below.  The required pension contributions will not be known with more certainty until the January 1, 2015 valuations are completed by April 1, 2015.

The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2015:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Pension Contributions		$92,523		$32,455		$56,960		$22,472		$10,910		$17,166		$20,778
Other Postretirement Contributions		$16,904		$8,921		$9,885		$535		$3,669		$3,231		$475

Actuarial Assumptions

The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2014, and 2013 were as follows:

	2014	2013
Weighted-average discount rate:
Qualified pension	4.03% - 4.40% Blended 4.27%	5.04% - 5.26% Blended 5.14%
Other postretirement	4.23%	5.05%
Non-qualified pension	3.61%	4.29%
Weighted-average rate of increase in future compensation levels	4.23%	4.23%
Assumed health care trend rate:
Pre-65	7.10%	7.25%
Post-65	7.70%	7.00%
Ultimate rate	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2023	2022
Post-65	2023	2022

The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2014,  2013, and 2012 were as follows:

	2014	2013	2012
Weighted-average discount rate:
Qualified pension	5.04%-5.26% Blended 5.14%	4.31% - 4.5% Blended 4.36%	5.10% - 5.20% Blended 5.11%
Other postretirement	5.05%	4.36%	5.10%
Non-qualified pension	4.29%	3.37%	4.40%
Weighted-average rate of increase   in future compensation levels	4.23%	4.23%	4.23%
Expected long-term rate of   return on plan assets:
Pension assets	8.50%	8.50%	8.50%
Other postretirement tax deferred assets	8.30%	8.50%	8.50%
Other postretirement taxable assets	6.50%	6.50%	6.50%
Assumed health care trend rate:
Pre-65	7.25%	7.50%	7.75%
Post-65	7.00%	7.25%	7.50%
Ultimate rate	4.75%	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2022	2022	2022
Post-65	2022	2022	2022

Entergy’s other postretirement benefit transition obligations were amortized over 20 years ending in 2012.

With respect to mortality assumptions, Entergy used the RP-2014 Employee and Health Annuitant Tables, with a fully generational MP-2014 projection scale, in determining its December 31, 2014 pension plans’ PBOs and other postretirement benefit APBO. The mortality assumptions used in determining Entergy’s December 31, 2013 pension plans’ PBOs were the 1994 Group Annuity Mortality Table and RP 2000 Combined Health Mortality, with generational (using Scale AA) projected mortality improvement. The mortality assumption used in determining the December 31, 2013 other postretirement APBO was the 1994 Group Annuity Mortality Table, with generational (using Scale AA) projected mortality improvement.

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects: 

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase /(Decrease) (In Thousands)
Entergy Corporation and its   subsidiaries		$234,971		$16,769		($190,996	)		($13,566	)

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects for the Registrant Subsidiaries for their employees:

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase/(Decrease) (In Thousands)
Entergy Arkansas		$39,286		$2,448		($31,753	)		($1,971	)
Entergy Gulf States Louisiana		$27,929		$2,092		($22,591	)		($1,671	)
Entergy Louisiana		$23,779		$1,681		($19,452	)		($1,366	)
Entergy Mississippi		$10,596		$754		($8,596	)		($606	)
Entergy New Orleans		$6,373		$386		($5,317	)		($321	)
Entergy Texas		$16,246		$1,148		($13,397	)		($927	)
System Energy		$8,716		$734		($7,044	)		($586	)

Defined Contribution Plans

Entergy sponsors the Savings Plan of Entergy Corporation and Subsidiaries (System Savings Plan).  The System Savings Plan is a defined contribution plan covering eligible employees of Entergy and certain of its subsidiaries. The participating employing Entergy subsidiary makes matching contributions to the System Savings Plan for all eligible participating employees in an amount equal to either 70% or 100% of the participants’ basic contributions, up to 6% of their eligible earnings per pay period.  The matching contribution is allocated to investments as directed by the employee.

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 $43.3 million in 2014, $44.5 million in 2013, and $43.7 million in 2012.  The majority of the contributions were to the System Savings Plan.

The Registrant Subsidiaries’ 2014, 2013, and 2012 contributions to defined contribution plans for their employees were as follows:

Year	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$3,044		$1,867		$2,266		$1,855		$710		$1,563
2013		$3,351		$1,906		$2,393		$1,954		$769		$1,616
2012		$3,223		$1,842		$2,327		$1,875		$740		$1,601

Entergy New Orleans [Member]

Retirement And Other Postretirement Benefits

RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS  (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Qualified Pension Plans

Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment.  The “Entergy Corporation Retirement Plan III” is a final average pay plan that provides pension benefits that are based on employees’ credited service and compensation during the final years before retirement and includes a mandatory employee contribution of 3% of earnings during the first 10 years of plan participation, and allows voluntary contributions from 1% to 10% of earnings for a limited group of employees. Non-bargaining employees hired or rehired after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.”

The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy and the assets of the two cash balance pension plans are held in a second master trust established by Entergy.  Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee.  Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes.  Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust.  The fair value of the trusts’ assets is determined by the trustee and certain investment managers.  For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis.

Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly.  Assets for each Registrant Subsidiary are increased for investment income and contributions, and are decreased for benefit payments.  A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter.

Entergy Corporation and its subsidiaries fund pension costs in accordance with contribution guidelines established by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended.  The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts.  The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions.

Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI)

Entergy Corporation and its subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components:

	2014			2013			2012
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$140,436			$172,280			$150,763
Interest cost on projected benefit obligation	290,076			263,296			260,929
Expected return on assets	(361,462		)	(328,227		)	(317,423		)
Amortization of prior service cost	1,600			2,125			2,733
Recognized net loss	145,095			213,194			167,279
Curtailment loss	—			16,318			—
Special termination benefit	732			13,139			—
Net periodic pension costs		$216,477			$352,125			$264,281
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net (gain)/loss		$1,389,912			($894,150	)		$552,303
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(1,600		)	(2,125		)	(2,733		)
Acceleration of prior service cost to curtailment	—			(1,307		)	—
Amortization of net loss	(145,095		)	(213,194		)	(167,279		)
Total	1,243,217			(1,110,776		)	382,291
Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax)		$1,459,694			($758,651	)		$646,572
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year:
Prior service cost		$1,561			$1,600			$2,268
Net loss		$237,013			$146,958			$219,805

The Registrant Subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States  Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$20,090			$11,524			$14,182			$6,094			$2,666			$5,142			$5,785
Interest cost on projected benefit obligation	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Expected return on assets	(73,218		)	(37,950		)	(45,796		)	(22,794		)	(10,019		)	(23,723		)	(16,619		)
Amortization of prior service cost	—			—			—			—			—			—			2
Recognized net loss	35,956			15,923			24,523			9,415			5,796			9,356			9,500
Net pension cost		$42,365			$18,611			$30,779			$9,988			$6,607			$8,521			$12,229
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$300,907			$125,090			$193,842			$88,199			$38,161			$65,363			$60,763
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	—			—			—			—			—			—			(2		)
Amortization of net loss	(35,956		)	(15,923		)	(24,523		)	(9,415		)	(5,796		)	(9,356		)	(9,500		)
Total		$264,951			$109,167			$169,319			$78,784			$32,365			$56,007			$51,261
Total recognized as net periodic pension income regulatory asset, and/or AOCI (before tax)		$307,316			$127,778			$200,098			$88,772			$38,972			$64,528			$63,490
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Net loss		$54,254			$23,098			$36,704			$14,896			$8,053			$12,950			$13,055

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$25,229			$14,258			$17,044			$7,295			$3,264			$6,475			$7,242
Interest cost on projected benefit obligation	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Expected return on assets	(66,951		)	(34,982		)	(41,948		)	(21,139		)	(9,117		)	(22,277		)	(17,249		)
Amortization of prior service cost	23			9			83			10			2			6			9
Recognized net loss	49,517			23,374			34,107			13,189			7,878			13,302			9,560
Curtailment loss	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Net pension cost		$69,013			$31,013			$49,316			$16,283			$10,413			$16,223			$13,702
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net gain		($177,105	)		($98,610	)		($123,234	)		($52,525	)		($25,419	)		($55,772	)		($35,511	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(23		)	(9		)	(83		)	(10		)	(2		)	(6		)	(9		)
Amortization of net loss	(49,517		)	(23,374		)	(34,107		)	(13,189		)	(7,878		)	(13,302		)	(9,560		)
Total		($226,645	)		($121,993	)		($157,424	)		($65,724	)		($33,299	)		($69,080	)		($45,080	)
Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax)		($157,632	)		($90,980	)		($108,108	)		($49,441	)		($22,886	)		($52,857	)		($31,378	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$—			$—			$—			$—			$—			$—			$2
Net loss		$35,984			$15,935			$24,360			$9,421			$5,802			$9,363			$9,510

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$22,169			$12,273			$14,675			$6,410			$2,824			$5,684			$5,920
Interest cost on projected benefit obligation	55,686			25,679			35,201			16,279			7,608			16,823			12,987
Expected return on assets	(65,763		)	(34,370		)	(40,836		)	(20,945		)	(8,860		)	(22,325		)	(16,436		)
Amortization of prior service cost	200			19			208			30			7			15			13
Recognized net loss	40,772			16,173			28,197			10,532			6,878			10,179			9,001
Net pension cost		$53,064			$19,774			$37,445			$12,306			$8,457			$10,376			$11,485
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$105,133			$77,207			$76,163			$27,106			$14,282			$28,745			$10,266
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(200		)	(19		)	(208		)	(30		)	(7		)	(15		)	(13		)
Amortization of net loss	(40,772		)	(16,173		)	(28,197		)	(10,532		)	(6,878		)	(10,179		)	(9,001		)
Total		$64,161			$61,015			$47,758			$16,544			$7,397			$18,551			$1,252
Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax)		$117,225			$80,789			$85,203			$28,850			$15,854			$28,927			$12,737
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$23			$9			$83			$10			$2			$6			$10
Net loss		$50,175			$23,731			$34,906			$13,375			$8,046			$13,494			$9,717

Qualified PensionObligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet for Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$5,770,999			$6,096,639
Service cost	140,436			172,280
Interest cost	290,076			263,296
Curtailment	—			15,011
Special termination benefit	732			13,139
Actuarial loss/(gain)	1,284,049			(571,990		)
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Balance at end of year		$7,230,542			$5,770,999
Change in Plan Assets
Fair value of assets at beginning of year		$4,429,237			$3,832,860
Actual return on plan assets	255,599			650,386
Employer contributions	398,880			163,367
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Fair value of assets at end of year		$4,827,966			$4,429,237
Funded status		($2,402,576	)		($1,341,762	)
Amount recognized in the balance sheet
Non-current liabilities		($2,402,576	)		($1,341,762	)
Amount recognized as a regulatory asset
Prior service cost		$3,704			$5,027
Net loss	2,451,172			1,494,117
		$2,454,876			$1,499,144
Amount recognized as AOCI (before tax)
Prior service cost		$1,015			$1,292
Net loss	671,682			383,920
		$672,697			$385,212

Qualified Pension Obligations, Plan Assets, Funded Status, and Amounts Recognized in the Balance Sheet for the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Service cost	20,090			11,524			14,182			6,094			2,666			5,142			5,785
Interest cost	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Actuarial loss	279,781			113,883			180,763			81,600			35,131			58,556			55,410
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Balance at end of year		$1,485,718			$709,994			$956,541			$432,169			$202,555			$418,498			$334,312
Change in Plan Assets
Fair value of assets at beginning of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Actual return on plan assets	52,092			26,744			32,716			16,196			6,988			16,916			11,265
Employer contributions	95,464			30,176			54,549			21,839			10,509			17,072			21,261
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Fair value of assets at end of year		$977,521			$501,826			$611,533			$301,250			$133,344			$310,713			$217,621
Funded status		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized as  regulatory asset
Net loss		$722,119			$272,695			$468,779			$198,972			$102,141			$176,522			$172,463
Amounts recognized as AOCI (before tax)
Net loss		$—			$40,748			$—			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,274,886			$623,068			$817,745			$369,852			$174,585			$382,176			$282,841
Service cost	25,229			14,258			17,044			7,295			3,264			6,475			7,242
Interest cost	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Curtailment	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Actuarial gain	(110,943		)	(64,119		)	(80,794		)	(31,684		)	(16,276		)	(33,792		)	(23,882		)
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Balance at end of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Change in Plan Assets
Fair value of assets at beginning of year		$785,527			$409,971			$489,027			$248,272			$106,778			$262,110			$168,697
Actual return on plan assets	133,113			69,473			84,388			41,980			18,259			44,257			28,878
Employer contributions	35,382			11,550			21,152			8,152			4,175			6,880			8,305
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Fair value of assets at end of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Funded status		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized as  regulatory asset
Prior service cost		$—			$—			($1	)		$—			$—			$—			($4	)
Net loss	457,485			178,990			299,740			120,290			69,856			120,619			121,327
		$457,485			$178,990			$299,739			$120,290			$69,856			$120,619			$121,323
Amounts recognized as AOCI  (before tax)
Net loss		$—			$25,437			$—			$—			$—			$—			$—

Other Postretirement Benefits

Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees.  Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits.

In December 2013, Entergy announced changes to its other postretirement benefits which include, among other things, elimination of other postretirement benefits for all non-bargaining employees hired or rehired after June 30, 2014 and for certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreement, and setting a dollar limit cap on Entergy’s contribution to retiree medical costs, effective 2019 for those non-bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 and for certain bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 or such later date as provided for in their applicable collective bargaining agreement. In accordance with accounting standards, certain of the other postretirement benefit changes have been reflected in the December 31, 2013 other postretirement obligation. The changes affecting active bargaining unit employees are being negotiated with the unions prior to implementation, where necessary, and to the extent required by law.

Entergy uses a December 31 measurement date for its postretirement benefit plans.

Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions.  At January 1, 1993, the actuarially determined accumulated postretirement benefit obligation (APBO) earned by retirees and active employees was estimated to be approximately $241.4 million for Entergy (other than the former Entergy Gulf States) and $128 million for the former Entergy Gulf States (now split into Entergy Gulf States Louisiana and Entergy Texas).  Such obligations were being amortized over a 20-year period that began in 1993 and ended in 2012.  For the most part, the Registrant Subsidiaries recover accrued other postretirement benefit costs from customers and are required to contribute the other postretirement benefits collected in rates to an external trust.

Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates.  Entergy Arkansas began recovery in 1998, pursuant to an APSC order.  This order also allowed Entergy Arkansas to amortize a regulatory asset (representing the difference between other postretirement benefit costs and cash expenditures for other postretirement benefits incurred from 1993 through 1997) over a 15-year period that began in January 1998 and ended in December 2012.

The LPSC ordered Entergy Gulf States Louisiana and Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions.  However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted.

Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts.  System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf.

Trust assets contributed by participating Registrant Subsidiaries are in bank-administered master trusts, established by Entergy Corporation and maintained by a trustee.  Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets.  The assets in the master trusts are commingled for investment and administrative purposes.  Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses.  Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts.

Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI

Entergy Corporation’s and its subsidiaries’ total 2014, 2013, and 2012 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components:

	2014			2013			2012
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$43,493			$74,654			$68,883
Interest cost on APBO	71,841			79,453			82,561
Expected return on assets	(44,787		)	(40,323		)	(34,503		)
Amortization of transition obligation	—			—			3,177
Amortization of prior service credit	(31,590		)	(14,904		)	(18,163		)
Recognized net loss	11,143			44,178			36,448
Curtailment loss	—			12,729			—
Net other postretirement benefit cost		$50,100			$155,787			$138,403
Other changes in plan assets and benefit  obligations recognized as a regulatory asset  and /or AOCI (before tax)
Arising this period:
Prior service credit for period		($35,864	)		($116,571	)		$—
Net loss/(gain)	287,313			(405,976		)	92,584
Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year:
Amortization of transition obligation	—			—			(3,177		)
Amortization of prior service credit	31,590			14,904			18,163
Acceleration of prior service credit due to curtailment	—			1,989			—
Amortization of net loss	(11,143		)	(44,178		)	(36,448		)
Total		$271,896			($549,832	)		$71,122
Total recognized as net periodic benefit income/(cost),  regulatory asset, and/or AOCI (before tax)		$321,996			($394,045	)		$209,525
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic  benefit cost  in the following year
Prior service credit		($37,280	)		($31,589	)		($13,336	)
Net loss		$31,591			$11,197			$45,217

Total 2014, 2013, and 2012 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$5,957			$4,896			$4,518			$1,900			$868			$2,378			$2,058
Interest cost on APBO	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Expected return on assets	(19,135		)	—			—			(5,771		)	(4,475		)	(10,358		)	(3,727		)
Amortization of prior credit	(2,441		)	(2,237		)	(3,377		)	(915		)	(709		)	(1,300		)	(824		)
Recognized net loss	1,267			1,212			1,511			149			56			801			443
Net other postretirement benefit (income)/cost		($2,091	)		$12,249			$10,916			($982	)		($1,455	)		($2,827	)		$561
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		$—			($12,845	)		$—			$—			$—			($8,536	)		($3,845	)
Net loss		$55,642			$36,467			$24,582			$9,525			$6,309			$24,482			$10,596
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	2,441			2,237			3,377			915			709			1,300			824
Amortization of net loss	(1,267		)	(1,212		)	(1,511		)	(149		)	(56		)	(801		)	(443		)
Total		$56,816			$24,647			$26,448			$10,291			$6,962			$16,445			$7,132
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$54,725			$36,896			$37,364			$9,309			$5,507			$13,618			$7,693
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($4,086	)		($3,381	)		($916	)		($709	)		($2,723	)		($1,465	)
Net loss		$5,356			$3,908			$3,210			$860			$470			$2,740			$1,198

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,619			$7,910			$8,541			$3,246			$1,752			$3,760			$3,580
Interest cost on APBO	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Expected return on assets	(16,843		)	—			—			(5,335		)	(4,101		)	(9,391		)	(3,350		)
Amortization of prior credit	(689		)	(942		)	(508		)	(204		)	(24		)	(501		)	(126		)
Recognized net loss	7,976			4,598			5,050			2,534			1,509			3,744			1,896
Curtailment loss	4,517			1,546			1,848			596			354			1,436			760
Net other postretirement benefit cost		$18,125			$22,076			$24,341			$5,126			$2,625			$5,124			$5,705
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		($11,617	)		($8,705	)		($18,844	)		($4,714	)		($4,469	)		($5,359	)		($4,591	)
Net loss		($81,236	)		($40,938	)		($43,743	)		($30,018	)		($18,508	)		($34,562	)		($17,579	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	689			942			508			204			24			501			126
Acceleration of prior service credit/(cost) due to curtailment	78			91			41			20			(4		)	62			9
Amortization of net loss	(7,976		)	(4,598		)	(5,050		)	(2,534		)	(1,509		)	(3,744		)	(1,896		)
Total		($100,062	)		($53,208	)		($67,088	)		($37,042	)		($24,466	)		($43,102	)		($23,931	)
Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax)		($81,937	)		($31,132	)		($42,747	)		($31,916	)		($21,841	)		($37,978	)		($18,226	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($2,236	)		($3,376	)		($918	)		($709	)		($1,301	)		($824	)
Net loss		$1,267			$1,212			$1,511			$149			$56			$800			$464

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,089			$7,521			$7,796			$3,093			$1,689			$3,651			$3,293
Interest cost on APBO	14,452			9,590			9,781			4,716			3,422			6,650			3,028
Expected return on assets	(14,029		)	—			—			(4,521		)	(3,711		)	(8,415		)	(2,601		)
Amortization of transition obligation	820			238			382			351			1,189			187			8
Amortization of prior service cost/(credit)	(530		)	(824		)	(247		)	(139		)	38			(428		)	(63		)
Recognized net loss	8,305			4,737			4,359			2,920			1,559			4,320			1,970
Net other postretirement benefit cost		$18,107			$21,262			$22,071			$6,420			$4,186			$5,965			$5,635
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$9,066			$5,818			$16,215			$271			$2,260			$191			$2,043
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of transition obligation	(820		)	(238		)	(382		)	(351		)	(1,189		)	(187		)	(8		)
Amortization of prior service (cost)/credit	530			824			247			139			(38		)	428			63
Amortization of net loss	(8,305		)	(4,737		)	(4,359		)	(2,920		)	(1,559		)	(4,320		)	(1,970		)
Total		$471			$1,667			$11,721			($2,861	)		($526	)		($3,888	)		$128
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$18,578			$22,929			$33,792			$3,559			$3,660			$2,077			$5,763
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service cost/(credit)		($530	)		($824	)		($247	)		($139	)		$38			($428	)		($62	)
Net loss		$8,163			$4,693			$5,149			$2,650			$1,587			$3,905			$1,915

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet of Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in APBO
Balance at beginning of year		$1,461,910			$1,846,922
Service cost	43,493			74,654
Interest cost	71,841			79,453
Plan amendments	(35,864		)	(116,571		)
Curtailment	—			14,718
Plan participant contributions	22,160			19,141
Actuarial loss/(gain)	274,061			(370,004		)
Benefits paid	(102,439		)	(89,713		)
Medicare Part D subsidy received	4,395			3,310
Balance at end of year		$1,739,557			$1,461,910
Change in Plan Assets
Fair value of assets at beginning of year		$569,850			$488,448
Actual return on plan assets	31,535			76,314
Employer contributions	76,521			75,660
Plan participant contributions	22,160			19,141
Benefits paid	(102,439		)	(89,713		)
Fair value of assets at end of year		$597,627			$569,850
Funded status		($1,141,930	)		($892,060	)
Amounts recognized in the balance sheet
Current liabilities		($41,821	)		($40,602	)
Non-current liabilities	(1,100,109		)	(851,458		)
Total funded status		($1,141,930	)		($892,060	)
Amounts recognized as a regulatory asset
Prior service credit		($54,508	)		($93,332	)
Net loss	248,918			165,270
		$194,410			$71,938
Amounts recognized as AOCI (before tax)
Prior service credit		($104,086	)		($60,988	)
Net loss	300,518			107,996
		$196,432			$47,008

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Service cost	5,957			4,896			4,518			1,900			868			2,378			2,058
Interest cost	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Plan amendments	—			(12,845		)	—			—			—			(8,536		)	(3,845		)
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Actuarial loss	49,573			36,467			24,582			7,939			5,097			21,471			9,524
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Medicare Part D subsidy received	980			520			654			322			222			440			152
Balance at end of year		$303,716			$199,409			$195,537			$83,162			$63,779			$130,145			$60,754
Change in Plan Assets
Fair value of assets at beginning of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Actual return on plan assets	13,066			—			—			4,185			3,263			7,347			2,655
Employer contributions	15,251			8,309			11,245			8,505			4,289			3,446			334
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Fair value of assets at end of year		$244,191			$—			$—			$80,935			$71,004			$135,733			$48,293
Funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,884	)		($9,840	)		$—			$—			$—			$—
Non-current liabilities	(59,525		)	(190,525		)	(185,697		)	(2,227		)	7,225			5,588			(12,461		)
Total funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in regulatory asset
Prior service credit		($10,555	)		$—			$—			($4,141	)		($3,626	)		($13,741	)		($7,723	)
Net loss	94,647			—			—			18,680			12,738			46,453			20,450
		$84,092			$—			$—			$14,539			$9,112			$32,712			$12,727
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($20,967	)		($16,013	)		$—			$—			$—			$—
Net loss	—			66,832			58,072			—			—			—			—
		$—			$45,865			$42,059			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$315,308			$207,987			$220,017			$100,508			$74,200			$142,114			$67,934
Service cost	9,619			7,910			8,541			3,246			1,752			3,760			3,580
Interest cost	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Plan amendments	(11,617		)	(8,705		)	(18,844		)	(4,714		)	(4,469		)	(5,359		)	(4,591		)
Curtailment	4,595			1,637			1,889			616			350			1,498			769
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Actuarial gain	(67,253		)	(40,941		)	(43,747		)	(25,527		)	(13,739		)	(26,048		)	(14,639		)
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Medicare Part D subsidy received	737			410			513			245			194			334			105
Balance at end of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Change in Plan Assets
Fair value of assets at beginning of year		$194,018			$—			$—			$62,951			$58,651			$115,824			$39,474
Actual return on plan assets	30,830			—			—			9,826			8,870			17,905			6,292
Employer contributions	21,015			6,960			9,015			4,785			2,567			4,846			5,387
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Fair value of assets at end of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,803	)		($10,249	)		$—			$—			$—			$—
Non-current liabilities	(19,071		)	(161,499		)	(158,515		)	(1,101		)	8,665			16,200			(4,950		)
Total funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in regulatory asset
Prior service credit		($12,996	)		$—			$—			($5,056	)		($4,335	)		($6,505	)		($4,702	)
Net loss	40,272			—			—			9,304			6,485			22,772			10,297
		$27,276			$—			$—			$4,248			$2,150			$16,267			$5,595
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($10,359	)		($19,390	)		$—			$—			$—			$—
Net loss	—			31,577			35,001			—			—			—			—
		$—			$21,218			$15,611			$—			$—			$—			$—

Non-Qualified Pension Plans

Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  Entergy recognized net periodic pension cost related to these plans of $32.4 million in 2014, $54.5 million in 2013, and $26.5 million in 2012.  In 2014, 2013, and 2012 Entergy recognized $15.1 million, $33 million, and $6.3 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above.  The projected benefit obligation was $151.8 million and $154.3 million as of December 31, 2014 and 2013, respectively.  The accumulated benefit obligation was $130.6 million and $131.4 million as of December 31, 2014 and 2013, respectively.

Entergy’s non-qualified, non-current pension liability at December 31, 2014 and 2013 was $135.6 million and $127.5 million, respectively; and its current liability was $16.2 million and $26.8 million, respectively.  The unamortized prior service cost and net loss are recognized in regulatory assets ($60.3 million at December 31, 2014 and $59.1 million at December 31, 2013) and accumulated other comprehensive income before taxes ($23.5 million at December 31, 2014 and $26.1 million at December 31, 2013).

The Registrant Subsidiaries (except System Energy) participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  The net periodic pension cost for their employees for the non-qualified plans for 2014, 2013, and 2012, was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$754		$130		$5		$190		$95		$491
2013		$448		$151		$12		$192		$92		$1,001
2012		$464		$158		$12		$183		$79		$648

Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2013 net periodic pension cost above are settlement charges of $415 thousand for Entergy Texas related to the lump sum benefits paid out of the plan.  Included in the 2012 net periodic pension cost above are settlement charges of $38 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan.  

The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,495		$2,693		$158		$2,128		$476		$9,567
2013		$4,162		$2,511		$50		$1,752		$434		$7,910

The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,086		$2,693		$131		$1,761		$436		$9,215
2013		$3,765		$2,510		$50		$1,528		$387		$7,496

The following amounts were recorded on the balance sheet as of December 31, 2014 and 2013:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($347	)		($241	)		($18	)		($119	)		($23	)		($753	)
Non-current liabilities	(4,148		)	(2,452		)	(140		)	(2,009		)	(453		)	(8,814		)
Total funded status		($4,495	)		($2,693	)		($158	)		($2,128	)		($476	)		($9,567	)
Regulatory asset/(liability)		$2,368			$659			$37			$942			($65	)		$296
Accumulated other comprehensive income (before taxes)		$—			$98			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($367	)		($262	)		($6	)		($118	)		($20	)		($786	)
Non-current liabilities	(3,795		)	(2,249		)	(44		)	(1,634		)	(414		)	(7,124		)
Total funded status		($4,162	)		($2,511	)		($50	)		($1,752	)		($434	)		($7,910	)
Regulatory asset/(liability)		$1,979			$422			($87	)		$637			($18	)		($1,631	)
Accumulated other comprehensive income (before taxes)		$—			$57			$—			$—			$—			$—

Reclassification out of Accumulated Other Comprehensive Income

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2014:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,559	)		$22,280			($427	)		$20,294
Amortization of loss	(26,934		)	(6,689		)	(2,213		)	(35,836		)
Settlement loss	—			—			(3,643		)	(3,643		)
		($28,493	)		$15,591			($6,283	)		($19,185	)
Entergy Gulf States Louisiana
Amortization of prior service cost		$—			$2,237			$—			$2,237
Amortization of loss	(1,911		)	(1,212		)	(3		)	(3,126		)
		($1,911	)		$1,025			($3	)		($889	)
Entergy Louisiana
Amortization of prior service cost		$—			$3,377			$—			$3,377
Amortization of loss	—			(1,511		)	—			(1,511		)
		$—			$1,866			$—			$1,866

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2013:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,866	)		$12,925			($503	)		$10,556
Acceleration of prior service cost due to curtailment	(1,304		)	1,797			(178		)	315
Amortization of loss	(43,971		)	(21,590		)	(2,569		)	(68,130		)
Settlement loss	—			—			(11,612		)	(11,612		)
		($47,141	)		($6,868	)		($14,862	)		($68,871	)
Entergy Gulf States Louisiana
Amortization of prior service cost		($1	)		$942			$—			$941
Acceleration of prior service cost due to curtailment	—			91			—			91
Amortization of loss	(3,039		)	(4,598		)	(7		)	(7,644		)
		($3,040	)		($3,565	)		($7	)		($6,612	)
Entergy Louisiana
Amortization of prior service cost		$—			$508			$—			$508
Acceleration of prior service cost due to curtailment	—			41			—			41
Amortization of loss	—			(5,050		)	—			(5,050		)
		$—			($4,501	)		$—			($4,501	)

Accounting for Pension and Other Postretirement Benefits

Accounting standards require an employer to recognize in its balance sheet the funded status of its benefit plans.  This is measured as the difference between plan assets at fair value and the benefit obligation.  Entergy uses a December 31 measurement date for its pension and other postretirement plans.  Employers are to record previously unrecognized gains and losses, prior service costs, and any remaining transition asset or obligation (that resulted from adopting prior pension and other postretirement benefits accounting standards) as comprehensive income and/or as a regulatory asset reflective of the recovery mechanism for pension and other postretirement benefit costs in the Registrant Subsidiaries’ respective regulatory jurisdictions.  For the portion of Entergy Gulf States Louisiana that is not regulated, the unrecognized prior service cost, gains and losses, and transition asset/obligation for its pension and other postretirement benefit obligations are recorded as other comprehensive income.  Entergy Gulf States Louisiana and Entergy Louisiana recover other postretirement benefit costs on a pay-as-you-go basis and record the unrecognized prior service cost, gains and losses, and transition obligation for its other postretirement benefit obligation as other comprehensive income.  Accounting standards also require that changes in the funded status be recorded as other comprehensive income and/or a regulatory asset in the period in which the changes occur.

With regard to pension and other postretirement costs, Entergy calculates the expected return on pension and other postretirement benefit plan assets by multiplying the long-term expected rate of return on assets by the market-related value (MRV) of plan assets.  Entergy determines the MRV of pension plan assets by calculating a value that uses a 20-quarter phase-in of the difference between actual and expected returns.  For other postretirement benefit plan assets Entergy uses fair value when determining MRV.

Qualified Pension and Other Postretirement Plans’ Assets

The Plan Administrator’s trust asset investment strategy is to invest the assets in a manner whereby long-term earnings on the assets (plus cash contributions) provide adequate funding for retiree benefit payments.  The mix of assets is based on an optimization study that identifies asset allocation targets in order to achieve the maximum return for an acceptable level of risk, while minimizing the expected contributions and pension and postretirement expense.

In the optimization studies, the Plan Administrator formulates assumptions about characteristics, such as expected asset class investment returns, volatility (risk), and correlation coefficients among the various asset classes.  The future market assumptions used in the optimization study are determined by examining historical market characteristics of the various asset classes and making adjustments to reflect future conditions expected to prevail over the study period.  

The target asset allocation for pension adjusts dynamically based on the pension plans' funded status. The current targets are shown below. The expectation is that the allocation to fixed income securities will increase as the pension plans' funded status increases. The following ranges were established to produce an acceptable, economically efficient plan to manage around the targets. 

The target and range asset allocation for postretirement assets reflects changes made in 2012 as recommended in the latest optimization study.

Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2014 and 2013 and the target asset allocation and ranges are as follows:

Pension Asset Allocation	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	45%	34%	to	53%	45%	46%
International Equity Securities	20%	16%	to	24%	19%	20%
Fixed Income Securities	35%	31%	to	41%	35%	33%
Other	0%	0%	to	10%	1%	1%

Postretirement Asset Allocation	Non-Taxable and Taxable
	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	39%	34%	to	44%	42%	40%
International Equity Securities	26%	21%	to	31%	25%	26%
Fixed Income Securities	35%	30%	to	40%	33%	34%
Other	0%	0%	to	5%	0%	0%

In determining its expected long-term rate of return on plan assets used in the calculation of benefit plan costs, Entergy reviews past performance, current and expected future asset allocations, and capital market assumptions of its investment consultant and some investment managers.

The expected long-term rate of return for the qualified pension plans’ assets is based primarily on the geometric average of the historical annual performance of a representative portfolio weighted by the target asset allocation defined in the table above, along with other indications of expected return on assets. The time period reflected is a long dated period spanning several decades.

The expected long-term rate of return for the non-taxable postretirement trust assets is determined using the same methodology described above for pension assets, but the asset allocation specific to the non-taxable postretirement assets is used.

For the taxable postretirement trust assets, the investment allocation includes tax-exempt fixed income securities.  This asset allocation in combination with the same methodology employed to determine the expected return for other trust assets (as described above), with a modification to reflect applicable taxes, is used to produce the expected long-term rate of return for taxable postretirement trust assets.

Concentrations of Credit Risk

Entergy’s investment guidelines mandate the avoidance of risk concentrations.  Types of concentrations specified to be avoided include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country, geographic area and individual security issuance.  As of December 31, 2014, all investment managers and assets were materially in compliance with the approved investment guidelines, therefore there were no significant concentrations (defined as greater than 10 percent of plan assets) of risk in Entergy’s pension and other postretirement benefit plan assets.

Fair Value Measurements

Accounting standards provide the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).

The three levels of the fair value hierarchy are described below:

• Level 1 - Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date.  Assets are valued based on prices derived by an independent party that uses inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.  Prices are reviewed and can be challenged with the independent parties and/or overridden if it is believed such would be more reflective of fair value.  Level 2 inputs include the following:

-     quoted prices for similar assets or liabilities in active markets;

-     quoted prices for identical assets or liabilities in inactive markets;

-     inputs other than quoted prices that are observable for the asset or liability; or

-     inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If an asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

• Level 3 - Level 3 refers to securities valued based on significant unobservable inputs.

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.  The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2014, and December 31, 2013, a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate.

Qualified Defined Benefit Pension Plan Trusts

Final Average Pay Pension Plans’ Trust

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$10,017	(b)		$—	(a)		$—		$10,017
Common	717,685		(b)	97			—		717,782
Common collective trusts	—			1,886,897		(c)	—		1,886,897
103-12 investment entities	—			259,995		(h)	—		259,995
Fixed income securities:
U.S. Government securities	240		(b)	400,059		(a)	—		400,299
Corporate debt instruments	—			548,788		(a)	—		548,788
Registered investment companies	286,534		(d)	576,641		(e)	—		863,175
Other	—			130,295		(f)	—		130,295
Other:
Insurance company general account (unallocated contracts)	—			37,818		(g)	—		37,818
Total investments		$1,014,476			$3,840,590			$—		$4,855,066
Cash									314
Other pending transactions									7,359
Less: Other postretirement assets included in total investments									(34,954		)
Total fair value of qualified pension assets										$4,827,785

Cash Balance Pension Plans’ Trust

The Cash Balance pension plans’ trust held $181 thousand of cash as of December 31, 2014.

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$6,847	(b)		$6,038	(a)		$—		$12,885
Common	915,996		(b)	—			—		915,996
Common collective trusts	—			1,753,958		(c)	—		1,753,958
Fixed income securities:
U.S. Government securities	180,718		(b)	152,915		(a)	—		333,633
Corporate debt instruments	—			464,652		(a)	—		464,652
Registered investment companies	316,863		(d)	486,748		(e)	—		803,611
Other	—			129,169		(f)	—		129,169
Other:
Insurance company general account (unallocated contracts)	—			36,886		(g)	—		36,886
Total investments		$1,420,424			$3,030,366			$—		$4,450,790
Cash									280
Other pending transactions									8,081
Less: Other postretirement assets included in total investments									(29,914		)
Total fair value of qualified    pension assets										$4,429,237

Other Postretirement Trusts

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$370,228	(c)		$—		$370,228
Fixed income securities:
U.S. Government securities	36,306		(b)	45,618		(a)	—		81,924
Corporate debt instruments	—			57,830		(a)	—		57,830
Registered investment companies	5,558		(d)	—			—		5,558
Other	—			46,968		(f)	—		46,968
Total investments		$41,864			$520,644			$—		$562,508
Other pending transactions									165
Plus:  Other postretirement assets included in the investments of the qualified pension trust									34,954
Total fair value of other postretirement assets										$597,627

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$356,700	(c)		$—		$356,700
Fixed income securities:
U.S. Government securities	40,808		(b)	43,471		(a)	—		84,279
Corporate debt instruments	—			50,563		(a)	—		50,563
Registered investment companies	4,163		(d)	—			—		4,163
Other	—			43,458		(f)	—		43,458
Total investments		$44,971			$494,192			$—		$539,163
Other pending transactions									773
Plus:  Other postretirement assets included in the investments of the qualified pension trust									29,914
Total fair value of other postretirement assets										$569,850

(a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes.

(b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices.

(c) The common collective trusts hold investments in accordance with stated objectives.  The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index.  Net asset value per share of the common collective trusts estimate fair value.

(d) The registered investment company is a money market mutual fund with a stable net asset value of one dollar per share.

(e) The registered investment company holds investments in domestic and international bond markets and estimates fair value using net asset value per share.

(f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes.

(g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value.  The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust.

(h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. Net asset value per share of the 103-12 investment entities estimate fair value.

Accumulated Pension Benefit Obligation

The accumulated benefit obligation for Entergy’s qualified pension plans was $6.6 billion and $5.2 billion at December 31, 2014 and 2013, respectively.

The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2014 and 2013 was as follows:

	December 31,
	2014		2013
	(In Thousands)
Entergy Arkansas		$1,379,108		$1,107,023
Entergy Gulf States Louisiana		$649,932		$530,974
Entergy Louisiana		$873,759		$697,945
Entergy Mississippi		$399,300		$318,941
Entergy New Orleans		$186,473		$150,239
Entergy Texas		$391,296		$332,484
System Energy		$305,556		$247,807

Estimated Future Benefit Payments

Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2014, and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows:

	Estimated Future Benefits Payments
	Qualified Pension		Non-Qualified Pension		Other Postretirement (before Medicare Subsidy)		Estimated Future Medicare Subsidy Receipts
	(In Thousands)
Year(s)
2015		$262,792		$16,173		$78,601		$455
2016		$277,307		$9,976		$80,601		$525
2017		$292,841		$10,774		$83,425		$595
2018		$310,200		$12,598		$88,049		$1,785
2019		$328,533		$11,431		$92,253		$1,984
2020 - 2024		$1,966,776		$70,791		$506,086		$13,539

Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows:

Estimated Future Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$66,156		$25,450		$37,892		$18,702		$7,397		$19,078		$11,432
2016		$67,639		$26,805		$39,070		$19,625		$7,836		$19,697		$11,949
2017		$69,207		$28,340		$40,675		$20,517		$8,304		$20,558		$12,357
2018		$71,306		$30,279		$42,336		$21,444		$8,895		$21,448		$12,977
2019		$73,795		$32,445		$44,058		$22,306		$9,368		$22,291		$13,724
2020 - 2024		$418,009		$196,323		$256,639		$125,761		$56,659		$125,001		$87,663

Estimated Future Non-Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
Year(s)
2015		$347		$241		$18		$119		$23		$753
2016		$300		$228		$17		$115		$23		$837
2017		$291		$241		$16		$124		$23		$784
2018		$282		$205		$15		$114		$23		$749
2019		$339		$199		$17		$112		$46		$720
2020 - 2024		$2,684		$924		$90		$825		$199		$3,442

Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy)	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$15,699		$8,921		$9,885		$3,926		$4,261		$6,617		$2,796
2016		$15,745		$9,219		$10,016		$4,001		$4,253		$6,785		$2,802
2017		$15,830		$9,580		$10,148		$4,125		$4,280		$7,012		$2,883
2018		$16,305		$10,110		$10,654		$4,433		$4,373		$7,438		$2,984
2019		$16,528		$10,706		$11,048		$4,599		$4,412		$7,771		$3,138
2020 - 2024		$86,854		$59,199		$60,735		$25,341		$21,584		$41,303		$17,664

Estimated Future Medicare Part D Subsidy	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$77		$37		$45		$29		$23		$34		$9
2016		$87		$41		$50		$32		$24		$37		$11
2017		$96		$46		$56		$34		$25		$40		$1
2018		$358		$168		$204		$125		$87		$142		$52
2019		$398		$184		$223		$136		$90		$151		$59
2020 - 2024		$2,593		$1,243		$1,434		$839		$506		$922		$456

Contributions

Entergy currently expects to contribute approximately $396 million to its qualified pension plans and approximately $66.9 million to other postretirement plans in 2015.  The expected 2015 pension and other postretirement plan contributions of the Registrant Subsidiaries for their employees are shown below.  The required pension contributions will not be known with more certainty until the January 1, 2015 valuations are completed by April 1, 2015.

The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2015:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Pension Contributions		$92,523		$32,455		$56,960		$22,472		$10,910		$17,166		$20,778
Other Postretirement Contributions		$16,904		$8,921		$9,885		$535		$3,669		$3,231		$475

Actuarial Assumptions

The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2014, and 2013 were as follows:

	2014	2013
Weighted-average discount rate:
Qualified pension	4.03% - 4.40% Blended 4.27%	5.04% - 5.26% Blended 5.14%
Other postretirement	4.23%	5.05%
Non-qualified pension	3.61%	4.29%
Weighted-average rate of increase in future compensation levels	4.23%	4.23%
Assumed health care trend rate:
Pre-65	7.10%	7.25%
Post-65	7.70%	7.00%
Ultimate rate	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2023	2022
Post-65	2023	2022

The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2014,  2013, and 2012 were as follows:

	2014	2013	2012
Weighted-average discount rate:
Qualified pension	5.04%-5.26% Blended 5.14%	4.31% - 4.5% Blended 4.36%	5.10% - 5.20% Blended 5.11%
Other postretirement	5.05%	4.36%	5.10%
Non-qualified pension	4.29%	3.37%	4.40%
Weighted-average rate of increase   in future compensation levels	4.23%	4.23%	4.23%
Expected long-term rate of   return on plan assets:
Pension assets	8.50%	8.50%	8.50%
Other postretirement tax deferred assets	8.30%	8.50%	8.50%
Other postretirement taxable assets	6.50%	6.50%	6.50%
Assumed health care trend rate:
Pre-65	7.25%	7.50%	7.75%
Post-65	7.00%	7.25%	7.50%
Ultimate rate	4.75%	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2022	2022	2022
Post-65	2022	2022	2022

Entergy’s other postretirement benefit transition obligations were amortized over 20 years ending in 2012.

With respect to mortality assumptions, Entergy used the RP-2014 Employee and Health Annuitant Tables, with a fully generational MP-2014 projection scale, in determining its December 31, 2014 pension plans’ PBOs and other postretirement benefit APBO. The mortality assumptions used in determining Entergy’s December 31, 2013 pension plans’ PBOs were the 1994 Group Annuity Mortality Table and RP 2000 Combined Health Mortality, with generational (using Scale AA) projected mortality improvement. The mortality assumption used in determining the December 31, 2013 other postretirement APBO was the 1994 Group Annuity Mortality Table, with generational (using Scale AA) projected mortality improvement.

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects: 

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase /(Decrease) (In Thousands)
Entergy Corporation and its   subsidiaries		$234,971		$16,769		($190,996	)		($13,566	)

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects for the Registrant Subsidiaries for their employees:

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase/(Decrease) (In Thousands)
Entergy Arkansas		$39,286		$2,448		($31,753	)		($1,971	)
Entergy Gulf States Louisiana		$27,929		$2,092		($22,591	)		($1,671	)
Entergy Louisiana		$23,779		$1,681		($19,452	)		($1,366	)
Entergy Mississippi		$10,596		$754		($8,596	)		($606	)
Entergy New Orleans		$6,373		$386		($5,317	)		($321	)
Entergy Texas		$16,246		$1,148		($13,397	)		($927	)
System Energy		$8,716		$734		($7,044	)		($586	)

Defined Contribution Plans

Entergy sponsors the Savings Plan of Entergy Corporation and Subsidiaries (System Savings Plan).  The System Savings Plan is a defined contribution plan covering eligible employees of Entergy and certain of its subsidiaries. The participating employing Entergy subsidiary makes matching contributions to the System Savings Plan for all eligible participating employees in an amount equal to either 70% or 100% of the participants’ basic contributions, up to 6% of their eligible earnings per pay period.  The matching contribution is allocated to investments as directed by the employee.

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 $43.3 million in 2014, $44.5 million in 2013, and $43.7 million in 2012.  The majority of the contributions were to the System Savings Plan.

The Registrant Subsidiaries’ 2014, 2013, and 2012 contributions to defined contribution plans for their employees were as follows:

Year	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$3,044		$1,867		$2,266		$1,855		$710		$1,563
2013		$3,351		$1,906		$2,393		$1,954		$769		$1,616
2012		$3,223		$1,842		$2,327		$1,875		$740		$1,601

Entergy Texas [Member]

Retirement And Other Postretirement Benefits

RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS  (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Qualified Pension Plans

Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment.  The “Entergy Corporation Retirement Plan III” is a final average pay plan that provides pension benefits that are based on employees’ credited service and compensation during the final years before retirement and includes a mandatory employee contribution of 3% of earnings during the first 10 years of plan participation, and allows voluntary contributions from 1% to 10% of earnings for a limited group of employees. Non-bargaining employees hired or rehired after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.”

The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy and the assets of the two cash balance pension plans are held in a second master trust established by Entergy.  Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee.  Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes.  Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust.  The fair value of the trusts’ assets is determined by the trustee and certain investment managers.  For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis.

Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly.  Assets for each Registrant Subsidiary are increased for investment income and contributions, and are decreased for benefit payments.  A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter.

Entergy Corporation and its subsidiaries fund pension costs in accordance with contribution guidelines established by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended.  The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts.  The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions.

Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI)

Entergy Corporation and its subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components:

	2014			2013			2012
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$140,436			$172,280			$150,763
Interest cost on projected benefit obligation	290,076			263,296			260,929
Expected return on assets	(361,462		)	(328,227		)	(317,423		)
Amortization of prior service cost	1,600			2,125			2,733
Recognized net loss	145,095			213,194			167,279
Curtailment loss	—			16,318			—
Special termination benefit	732			13,139			—
Net periodic pension costs		$216,477			$352,125			$264,281
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net (gain)/loss		$1,389,912			($894,150	)		$552,303
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(1,600		)	(2,125		)	(2,733		)
Acceleration of prior service cost to curtailment	—			(1,307		)	—
Amortization of net loss	(145,095		)	(213,194		)	(167,279		)
Total	1,243,217			(1,110,776		)	382,291
Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax)		$1,459,694			($758,651	)		$646,572
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year:
Prior service cost		$1,561			$1,600			$2,268
Net loss		$237,013			$146,958			$219,805

The Registrant Subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States  Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$20,090			$11,524			$14,182			$6,094			$2,666			$5,142			$5,785
Interest cost on projected benefit obligation	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Expected return on assets	(73,218		)	(37,950		)	(45,796		)	(22,794		)	(10,019		)	(23,723		)	(16,619		)
Amortization of prior service cost	—			—			—			—			—			—			2
Recognized net loss	35,956			15,923			24,523			9,415			5,796			9,356			9,500
Net pension cost		$42,365			$18,611			$30,779			$9,988			$6,607			$8,521			$12,229
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$300,907			$125,090			$193,842			$88,199			$38,161			$65,363			$60,763
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	—			—			—			—			—			—			(2		)
Amortization of net loss	(35,956		)	(15,923		)	(24,523		)	(9,415		)	(5,796		)	(9,356		)	(9,500		)
Total		$264,951			$109,167			$169,319			$78,784			$32,365			$56,007			$51,261
Total recognized as net periodic pension income regulatory asset, and/or AOCI (before tax)		$307,316			$127,778			$200,098			$88,772			$38,972			$64,528			$63,490
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Net loss		$54,254			$23,098			$36,704			$14,896			$8,053			$12,950			$13,055

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$25,229			$14,258			$17,044			$7,295			$3,264			$6,475			$7,242
Interest cost on projected benefit obligation	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Expected return on assets	(66,951		)	(34,982		)	(41,948		)	(21,139		)	(9,117		)	(22,277		)	(17,249		)
Amortization of prior service cost	23			9			83			10			2			6			9
Recognized net loss	49,517			23,374			34,107			13,189			7,878			13,302			9,560
Curtailment loss	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Net pension cost		$69,013			$31,013			$49,316			$16,283			$10,413			$16,223			$13,702
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net gain		($177,105	)		($98,610	)		($123,234	)		($52,525	)		($25,419	)		($55,772	)		($35,511	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(23		)	(9		)	(83		)	(10		)	(2		)	(6		)	(9		)
Amortization of net loss	(49,517		)	(23,374		)	(34,107		)	(13,189		)	(7,878		)	(13,302		)	(9,560		)
Total		($226,645	)		($121,993	)		($157,424	)		($65,724	)		($33,299	)		($69,080	)		($45,080	)
Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax)		($157,632	)		($90,980	)		($108,108	)		($49,441	)		($22,886	)		($52,857	)		($31,378	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$—			$—			$—			$—			$—			$—			$2
Net loss		$35,984			$15,935			$24,360			$9,421			$5,802			$9,363			$9,510

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$22,169			$12,273			$14,675			$6,410			$2,824			$5,684			$5,920
Interest cost on projected benefit obligation	55,686			25,679			35,201			16,279			7,608			16,823			12,987
Expected return on assets	(65,763		)	(34,370		)	(40,836		)	(20,945		)	(8,860		)	(22,325		)	(16,436		)
Amortization of prior service cost	200			19			208			30			7			15			13
Recognized net loss	40,772			16,173			28,197			10,532			6,878			10,179			9,001
Net pension cost		$53,064			$19,774			$37,445			$12,306			$8,457			$10,376			$11,485
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$105,133			$77,207			$76,163			$27,106			$14,282			$28,745			$10,266
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(200		)	(19		)	(208		)	(30		)	(7		)	(15		)	(13		)
Amortization of net loss	(40,772		)	(16,173		)	(28,197		)	(10,532		)	(6,878		)	(10,179		)	(9,001		)
Total		$64,161			$61,015			$47,758			$16,544			$7,397			$18,551			$1,252
Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax)		$117,225			$80,789			$85,203			$28,850			$15,854			$28,927			$12,737
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$23			$9			$83			$10			$2			$6			$10
Net loss		$50,175			$23,731			$34,906			$13,375			$8,046			$13,494			$9,717

Qualified PensionObligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet for Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$5,770,999			$6,096,639
Service cost	140,436			172,280
Interest cost	290,076			263,296
Curtailment	—			15,011
Special termination benefit	732			13,139
Actuarial loss/(gain)	1,284,049			(571,990		)
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Balance at end of year		$7,230,542			$5,770,999
Change in Plan Assets
Fair value of assets at beginning of year		$4,429,237			$3,832,860
Actual return on plan assets	255,599			650,386
Employer contributions	398,880			163,367
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Fair value of assets at end of year		$4,827,966			$4,429,237
Funded status		($2,402,576	)		($1,341,762	)
Amount recognized in the balance sheet
Non-current liabilities		($2,402,576	)		($1,341,762	)
Amount recognized as a regulatory asset
Prior service cost		$3,704			$5,027
Net loss	2,451,172			1,494,117
		$2,454,876			$1,499,144
Amount recognized as AOCI (before tax)
Prior service cost		$1,015			$1,292
Net loss	671,682			383,920
		$672,697			$385,212

Qualified Pension Obligations, Plan Assets, Funded Status, and Amounts Recognized in the Balance Sheet for the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Service cost	20,090			11,524			14,182			6,094			2,666			5,142			5,785
Interest cost	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Actuarial loss	279,781			113,883			180,763			81,600			35,131			58,556			55,410
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Balance at end of year		$1,485,718			$709,994			$956,541			$432,169			$202,555			$418,498			$334,312
Change in Plan Assets
Fair value of assets at beginning of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Actual return on plan assets	52,092			26,744			32,716			16,196			6,988			16,916			11,265
Employer contributions	95,464			30,176			54,549			21,839			10,509			17,072			21,261
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Fair value of assets at end of year		$977,521			$501,826			$611,533			$301,250			$133,344			$310,713			$217,621
Funded status		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized as  regulatory asset
Net loss		$722,119			$272,695			$468,779			$198,972			$102,141			$176,522			$172,463
Amounts recognized as AOCI (before tax)
Net loss		$—			$40,748			$—			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,274,886			$623,068			$817,745			$369,852			$174,585			$382,176			$282,841
Service cost	25,229			14,258			17,044			7,295			3,264			6,475			7,242
Interest cost	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Curtailment	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Actuarial gain	(110,943		)	(64,119		)	(80,794		)	(31,684		)	(16,276		)	(33,792		)	(23,882		)
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Balance at end of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Change in Plan Assets
Fair value of assets at beginning of year		$785,527			$409,971			$489,027			$248,272			$106,778			$262,110			$168,697
Actual return on plan assets	133,113			69,473			84,388			41,980			18,259			44,257			28,878
Employer contributions	35,382			11,550			21,152			8,152			4,175			6,880			8,305
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Fair value of assets at end of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Funded status		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized as  regulatory asset
Prior service cost		$—			$—			($1	)		$—			$—			$—			($4	)
Net loss	457,485			178,990			299,740			120,290			69,856			120,619			121,327
		$457,485			$178,990			$299,739			$120,290			$69,856			$120,619			$121,323
Amounts recognized as AOCI  (before tax)
Net loss		$—			$25,437			$—			$—			$—			$—			$—

Other Postretirement Benefits

Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees.  Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits.

In December 2013, Entergy announced changes to its other postretirement benefits which include, among other things, elimination of other postretirement benefits for all non-bargaining employees hired or rehired after June 30, 2014 and for certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreement, and setting a dollar limit cap on Entergy’s contribution to retiree medical costs, effective 2019 for those non-bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 and for certain bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 or such later date as provided for in their applicable collective bargaining agreement. In accordance with accounting standards, certain of the other postretirement benefit changes have been reflected in the December 31, 2013 other postretirement obligation. The changes affecting active bargaining unit employees are being negotiated with the unions prior to implementation, where necessary, and to the extent required by law.

Entergy uses a December 31 measurement date for its postretirement benefit plans.

Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions.  At January 1, 1993, the actuarially determined accumulated postretirement benefit obligation (APBO) earned by retirees and active employees was estimated to be approximately $241.4 million for Entergy (other than the former Entergy Gulf States) and $128 million for the former Entergy Gulf States (now split into Entergy Gulf States Louisiana and Entergy Texas).  Such obligations were being amortized over a 20-year period that began in 1993 and ended in 2012.  For the most part, the Registrant Subsidiaries recover accrued other postretirement benefit costs from customers and are required to contribute the other postretirement benefits collected in rates to an external trust.

Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates.  Entergy Arkansas began recovery in 1998, pursuant to an APSC order.  This order also allowed Entergy Arkansas to amortize a regulatory asset (representing the difference between other postretirement benefit costs and cash expenditures for other postretirement benefits incurred from 1993 through 1997) over a 15-year period that began in January 1998 and ended in December 2012.

The LPSC ordered Entergy Gulf States Louisiana and Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions.  However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted.

Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts.  System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf.

Trust assets contributed by participating Registrant Subsidiaries are in bank-administered master trusts, established by Entergy Corporation and maintained by a trustee.  Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets.  The assets in the master trusts are commingled for investment and administrative purposes.  Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses.  Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts.

Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI

Entergy Corporation’s and its subsidiaries’ total 2014, 2013, and 2012 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components:

	2014			2013			2012
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$43,493			$74,654			$68,883
Interest cost on APBO	71,841			79,453			82,561
Expected return on assets	(44,787		)	(40,323		)	(34,503		)
Amortization of transition obligation	—			—			3,177
Amortization of prior service credit	(31,590		)	(14,904		)	(18,163		)
Recognized net loss	11,143			44,178			36,448
Curtailment loss	—			12,729			—
Net other postretirement benefit cost		$50,100			$155,787			$138,403
Other changes in plan assets and benefit  obligations recognized as a regulatory asset  and /or AOCI (before tax)
Arising this period:
Prior service credit for period		($35,864	)		($116,571	)		$—
Net loss/(gain)	287,313			(405,976		)	92,584
Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year:
Amortization of transition obligation	—			—			(3,177		)
Amortization of prior service credit	31,590			14,904			18,163
Acceleration of prior service credit due to curtailment	—			1,989			—
Amortization of net loss	(11,143		)	(44,178		)	(36,448		)
Total		$271,896			($549,832	)		$71,122
Total recognized as net periodic benefit income/(cost),  regulatory asset, and/or AOCI (before tax)		$321,996			($394,045	)		$209,525
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic  benefit cost  in the following year
Prior service credit		($37,280	)		($31,589	)		($13,336	)
Net loss		$31,591			$11,197			$45,217

Total 2014, 2013, and 2012 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$5,957			$4,896			$4,518			$1,900			$868			$2,378			$2,058
Interest cost on APBO	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Expected return on assets	(19,135		)	—			—			(5,771		)	(4,475		)	(10,358		)	(3,727		)
Amortization of prior credit	(2,441		)	(2,237		)	(3,377		)	(915		)	(709		)	(1,300		)	(824		)
Recognized net loss	1,267			1,212			1,511			149			56			801			443
Net other postretirement benefit (income)/cost		($2,091	)		$12,249			$10,916			($982	)		($1,455	)		($2,827	)		$561
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		$—			($12,845	)		$—			$—			$—			($8,536	)		($3,845	)
Net loss		$55,642			$36,467			$24,582			$9,525			$6,309			$24,482			$10,596
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	2,441			2,237			3,377			915			709			1,300			824
Amortization of net loss	(1,267		)	(1,212		)	(1,511		)	(149		)	(56		)	(801		)	(443		)
Total		$56,816			$24,647			$26,448			$10,291			$6,962			$16,445			$7,132
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$54,725			$36,896			$37,364			$9,309			$5,507			$13,618			$7,693
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($4,086	)		($3,381	)		($916	)		($709	)		($2,723	)		($1,465	)
Net loss		$5,356			$3,908			$3,210			$860			$470			$2,740			$1,198

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,619			$7,910			$8,541			$3,246			$1,752			$3,760			$3,580
Interest cost on APBO	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Expected return on assets	(16,843		)	—			—			(5,335		)	(4,101		)	(9,391		)	(3,350		)
Amortization of prior credit	(689		)	(942		)	(508		)	(204		)	(24		)	(501		)	(126		)
Recognized net loss	7,976			4,598			5,050			2,534			1,509			3,744			1,896
Curtailment loss	4,517			1,546			1,848			596			354			1,436			760
Net other postretirement benefit cost		$18,125			$22,076			$24,341			$5,126			$2,625			$5,124			$5,705
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		($11,617	)		($8,705	)		($18,844	)		($4,714	)		($4,469	)		($5,359	)		($4,591	)
Net loss		($81,236	)		($40,938	)		($43,743	)		($30,018	)		($18,508	)		($34,562	)		($17,579	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	689			942			508			204			24			501			126
Acceleration of prior service credit/(cost) due to curtailment	78			91			41			20			(4		)	62			9
Amortization of net loss	(7,976		)	(4,598		)	(5,050		)	(2,534		)	(1,509		)	(3,744		)	(1,896		)
Total		($100,062	)		($53,208	)		($67,088	)		($37,042	)		($24,466	)		($43,102	)		($23,931	)
Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax)		($81,937	)		($31,132	)		($42,747	)		($31,916	)		($21,841	)		($37,978	)		($18,226	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($2,236	)		($3,376	)		($918	)		($709	)		($1,301	)		($824	)
Net loss		$1,267			$1,212			$1,511			$149			$56			$800			$464

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,089			$7,521			$7,796			$3,093			$1,689			$3,651			$3,293
Interest cost on APBO	14,452			9,590			9,781			4,716			3,422			6,650			3,028
Expected return on assets	(14,029		)	—			—			(4,521		)	(3,711		)	(8,415		)	(2,601		)
Amortization of transition obligation	820			238			382			351			1,189			187			8
Amortization of prior service cost/(credit)	(530		)	(824		)	(247		)	(139		)	38			(428		)	(63		)
Recognized net loss	8,305			4,737			4,359			2,920			1,559			4,320			1,970
Net other postretirement benefit cost		$18,107			$21,262			$22,071			$6,420			$4,186			$5,965			$5,635
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$9,066			$5,818			$16,215			$271			$2,260			$191			$2,043
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of transition obligation	(820		)	(238		)	(382		)	(351		)	(1,189		)	(187		)	(8		)
Amortization of prior service (cost)/credit	530			824			247			139			(38		)	428			63
Amortization of net loss	(8,305		)	(4,737		)	(4,359		)	(2,920		)	(1,559		)	(4,320		)	(1,970		)
Total		$471			$1,667			$11,721			($2,861	)		($526	)		($3,888	)		$128
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$18,578			$22,929			$33,792			$3,559			$3,660			$2,077			$5,763
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service cost/(credit)		($530	)		($824	)		($247	)		($139	)		$38			($428	)		($62	)
Net loss		$8,163			$4,693			$5,149			$2,650			$1,587			$3,905			$1,915

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet of Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in APBO
Balance at beginning of year		$1,461,910			$1,846,922
Service cost	43,493			74,654
Interest cost	71,841			79,453
Plan amendments	(35,864		)	(116,571		)
Curtailment	—			14,718
Plan participant contributions	22,160			19,141
Actuarial loss/(gain)	274,061			(370,004		)
Benefits paid	(102,439		)	(89,713		)
Medicare Part D subsidy received	4,395			3,310
Balance at end of year		$1,739,557			$1,461,910
Change in Plan Assets
Fair value of assets at beginning of year		$569,850			$488,448
Actual return on plan assets	31,535			76,314
Employer contributions	76,521			75,660
Plan participant contributions	22,160			19,141
Benefits paid	(102,439		)	(89,713		)
Fair value of assets at end of year		$597,627			$569,850
Funded status		($1,141,930	)		($892,060	)
Amounts recognized in the balance sheet
Current liabilities		($41,821	)		($40,602	)
Non-current liabilities	(1,100,109		)	(851,458		)
Total funded status		($1,141,930	)		($892,060	)
Amounts recognized as a regulatory asset
Prior service credit		($54,508	)		($93,332	)
Net loss	248,918			165,270
		$194,410			$71,938
Amounts recognized as AOCI (before tax)
Prior service credit		($104,086	)		($60,988	)
Net loss	300,518			107,996
		$196,432			$47,008

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Service cost	5,957			4,896			4,518			1,900			868			2,378			2,058
Interest cost	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Plan amendments	—			(12,845		)	—			—			—			(8,536		)	(3,845		)
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Actuarial loss	49,573			36,467			24,582			7,939			5,097			21,471			9,524
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Medicare Part D subsidy received	980			520			654			322			222			440			152
Balance at end of year		$303,716			$199,409			$195,537			$83,162			$63,779			$130,145			$60,754
Change in Plan Assets
Fair value of assets at beginning of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Actual return on plan assets	13,066			—			—			4,185			3,263			7,347			2,655
Employer contributions	15,251			8,309			11,245			8,505			4,289			3,446			334
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Fair value of assets at end of year		$244,191			$—			$—			$80,935			$71,004			$135,733			$48,293
Funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,884	)		($9,840	)		$—			$—			$—			$—
Non-current liabilities	(59,525		)	(190,525		)	(185,697		)	(2,227		)	7,225			5,588			(12,461		)
Total funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in regulatory asset
Prior service credit		($10,555	)		$—			$—			($4,141	)		($3,626	)		($13,741	)		($7,723	)
Net loss	94,647			—			—			18,680			12,738			46,453			20,450
		$84,092			$—			$—			$14,539			$9,112			$32,712			$12,727
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($20,967	)		($16,013	)		$—			$—			$—			$—
Net loss	—			66,832			58,072			—			—			—			—
		$—			$45,865			$42,059			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$315,308			$207,987			$220,017			$100,508			$74,200			$142,114			$67,934
Service cost	9,619			7,910			8,541			3,246			1,752			3,760			3,580
Interest cost	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Plan amendments	(11,617		)	(8,705		)	(18,844		)	(4,714		)	(4,469		)	(5,359		)	(4,591		)
Curtailment	4,595			1,637			1,889			616			350			1,498			769
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Actuarial gain	(67,253		)	(40,941		)	(43,747		)	(25,527		)	(13,739		)	(26,048		)	(14,639		)
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Medicare Part D subsidy received	737			410			513			245			194			334			105
Balance at end of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Change in Plan Assets
Fair value of assets at beginning of year		$194,018			$—			$—			$62,951			$58,651			$115,824			$39,474
Actual return on plan assets	30,830			—			—			9,826			8,870			17,905			6,292
Employer contributions	21,015			6,960			9,015			4,785			2,567			4,846			5,387
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Fair value of assets at end of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,803	)		($10,249	)		$—			$—			$—			$—
Non-current liabilities	(19,071		)	(161,499		)	(158,515		)	(1,101		)	8,665			16,200			(4,950		)
Total funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in regulatory asset
Prior service credit		($12,996	)		$—			$—			($5,056	)		($4,335	)		($6,505	)		($4,702	)
Net loss	40,272			—			—			9,304			6,485			22,772			10,297
		$27,276			$—			$—			$4,248			$2,150			$16,267			$5,595
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($10,359	)		($19,390	)		$—			$—			$—			$—
Net loss	—			31,577			35,001			—			—			—			—
		$—			$21,218			$15,611			$—			$—			$—			$—

Non-Qualified Pension Plans

Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  Entergy recognized net periodic pension cost related to these plans of $32.4 million in 2014, $54.5 million in 2013, and $26.5 million in 2012.  In 2014, 2013, and 2012 Entergy recognized $15.1 million, $33 million, and $6.3 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above.  The projected benefit obligation was $151.8 million and $154.3 million as of December 31, 2014 and 2013, respectively.  The accumulated benefit obligation was $130.6 million and $131.4 million as of December 31, 2014 and 2013, respectively.

Entergy’s non-qualified, non-current pension liability at December 31, 2014 and 2013 was $135.6 million and $127.5 million, respectively; and its current liability was $16.2 million and $26.8 million, respectively.  The unamortized prior service cost and net loss are recognized in regulatory assets ($60.3 million at December 31, 2014 and $59.1 million at December 31, 2013) and accumulated other comprehensive income before taxes ($23.5 million at December 31, 2014 and $26.1 million at December 31, 2013).

The Registrant Subsidiaries (except System Energy) participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  The net periodic pension cost for their employees for the non-qualified plans for 2014, 2013, and 2012, was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$754		$130		$5		$190		$95		$491
2013		$448		$151		$12		$192		$92		$1,001
2012		$464		$158		$12		$183		$79		$648

Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2013 net periodic pension cost above are settlement charges of $415 thousand for Entergy Texas related to the lump sum benefits paid out of the plan.  Included in the 2012 net periodic pension cost above are settlement charges of $38 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan.  

The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,495		$2,693		$158		$2,128		$476		$9,567
2013		$4,162		$2,511		$50		$1,752		$434		$7,910

The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,086		$2,693		$131		$1,761		$436		$9,215
2013		$3,765		$2,510		$50		$1,528		$387		$7,496

The following amounts were recorded on the balance sheet as of December 31, 2014 and 2013:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($347	)		($241	)		($18	)		($119	)		($23	)		($753	)
Non-current liabilities	(4,148		)	(2,452		)	(140		)	(2,009		)	(453		)	(8,814		)
Total funded status		($4,495	)		($2,693	)		($158	)		($2,128	)		($476	)		($9,567	)
Regulatory asset/(liability)		$2,368			$659			$37			$942			($65	)		$296
Accumulated other comprehensive income (before taxes)		$—			$98			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($367	)		($262	)		($6	)		($118	)		($20	)		($786	)
Non-current liabilities	(3,795		)	(2,249		)	(44		)	(1,634		)	(414		)	(7,124		)
Total funded status		($4,162	)		($2,511	)		($50	)		($1,752	)		($434	)		($7,910	)
Regulatory asset/(liability)		$1,979			$422			($87	)		$637			($18	)		($1,631	)
Accumulated other comprehensive income (before taxes)		$—			$57			$—			$—			$—			$—

Reclassification out of Accumulated Other Comprehensive Income

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2014:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,559	)		$22,280			($427	)		$20,294
Amortization of loss	(26,934		)	(6,689		)	(2,213		)	(35,836		)
Settlement loss	—			—			(3,643		)	(3,643		)
		($28,493	)		$15,591			($6,283	)		($19,185	)
Entergy Gulf States Louisiana
Amortization of prior service cost		$—			$2,237			$—			$2,237
Amortization of loss	(1,911		)	(1,212		)	(3		)	(3,126		)
		($1,911	)		$1,025			($3	)		($889	)
Entergy Louisiana
Amortization of prior service cost		$—			$3,377			$—			$3,377
Amortization of loss	—			(1,511		)	—			(1,511		)
		$—			$1,866			$—			$1,866

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2013:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,866	)		$12,925			($503	)		$10,556
Acceleration of prior service cost due to curtailment	(1,304		)	1,797			(178		)	315
Amortization of loss	(43,971		)	(21,590		)	(2,569		)	(68,130		)
Settlement loss	—			—			(11,612		)	(11,612		)
		($47,141	)		($6,868	)		($14,862	)		($68,871	)
Entergy Gulf States Louisiana
Amortization of prior service cost		($1	)		$942			$—			$941
Acceleration of prior service cost due to curtailment	—			91			—			91
Amortization of loss	(3,039		)	(4,598		)	(7		)	(7,644		)
		($3,040	)		($3,565	)		($7	)		($6,612	)
Entergy Louisiana
Amortization of prior service cost		$—			$508			$—			$508
Acceleration of prior service cost due to curtailment	—			41			—			41
Amortization of loss	—			(5,050		)	—			(5,050		)
		$—			($4,501	)		$—			($4,501	)

Accounting for Pension and Other Postretirement Benefits

Accounting standards require an employer to recognize in its balance sheet the funded status of its benefit plans.  This is measured as the difference between plan assets at fair value and the benefit obligation.  Entergy uses a December 31 measurement date for its pension and other postretirement plans.  Employers are to record previously unrecognized gains and losses, prior service costs, and any remaining transition asset or obligation (that resulted from adopting prior pension and other postretirement benefits accounting standards) as comprehensive income and/or as a regulatory asset reflective of the recovery mechanism for pension and other postretirement benefit costs in the Registrant Subsidiaries’ respective regulatory jurisdictions.  For the portion of Entergy Gulf States Louisiana that is not regulated, the unrecognized prior service cost, gains and losses, and transition asset/obligation for its pension and other postretirement benefit obligations are recorded as other comprehensive income.  Entergy Gulf States Louisiana and Entergy Louisiana recover other postretirement benefit costs on a pay-as-you-go basis and record the unrecognized prior service cost, gains and losses, and transition obligation for its other postretirement benefit obligation as other comprehensive income.  Accounting standards also require that changes in the funded status be recorded as other comprehensive income and/or a regulatory asset in the period in which the changes occur.

With regard to pension and other postretirement costs, Entergy calculates the expected return on pension and other postretirement benefit plan assets by multiplying the long-term expected rate of return on assets by the market-related value (MRV) of plan assets.  Entergy determines the MRV of pension plan assets by calculating a value that uses a 20-quarter phase-in of the difference between actual and expected returns.  For other postretirement benefit plan assets Entergy uses fair value when determining MRV.

Qualified Pension and Other Postretirement Plans’ Assets

The Plan Administrator’s trust asset investment strategy is to invest the assets in a manner whereby long-term earnings on the assets (plus cash contributions) provide adequate funding for retiree benefit payments.  The mix of assets is based on an optimization study that identifies asset allocation targets in order to achieve the maximum return for an acceptable level of risk, while minimizing the expected contributions and pension and postretirement expense.

In the optimization studies, the Plan Administrator formulates assumptions about characteristics, such as expected asset class investment returns, volatility (risk), and correlation coefficients among the various asset classes.  The future market assumptions used in the optimization study are determined by examining historical market characteristics of the various asset classes and making adjustments to reflect future conditions expected to prevail over the study period.  

The target asset allocation for pension adjusts dynamically based on the pension plans' funded status. The current targets are shown below. The expectation is that the allocation to fixed income securities will increase as the pension plans' funded status increases. The following ranges were established to produce an acceptable, economically efficient plan to manage around the targets. 

The target and range asset allocation for postretirement assets reflects changes made in 2012 as recommended in the latest optimization study.

Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2014 and 2013 and the target asset allocation and ranges are as follows:

Pension Asset Allocation	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	45%	34%	to	53%	45%	46%
International Equity Securities	20%	16%	to	24%	19%	20%
Fixed Income Securities	35%	31%	to	41%	35%	33%
Other	0%	0%	to	10%	1%	1%

Postretirement Asset Allocation	Non-Taxable and Taxable
	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	39%	34%	to	44%	42%	40%
International Equity Securities	26%	21%	to	31%	25%	26%
Fixed Income Securities	35%	30%	to	40%	33%	34%
Other	0%	0%	to	5%	0%	0%

In determining its expected long-term rate of return on plan assets used in the calculation of benefit plan costs, Entergy reviews past performance, current and expected future asset allocations, and capital market assumptions of its investment consultant and some investment managers.

The expected long-term rate of return for the qualified pension plans’ assets is based primarily on the geometric average of the historical annual performance of a representative portfolio weighted by the target asset allocation defined in the table above, along with other indications of expected return on assets. The time period reflected is a long dated period spanning several decades.

The expected long-term rate of return for the non-taxable postretirement trust assets is determined using the same methodology described above for pension assets, but the asset allocation specific to the non-taxable postretirement assets is used.

For the taxable postretirement trust assets, the investment allocation includes tax-exempt fixed income securities.  This asset allocation in combination with the same methodology employed to determine the expected return for other trust assets (as described above), with a modification to reflect applicable taxes, is used to produce the expected long-term rate of return for taxable postretirement trust assets.

Concentrations of Credit Risk

Entergy’s investment guidelines mandate the avoidance of risk concentrations.  Types of concentrations specified to be avoided include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country, geographic area and individual security issuance.  As of December 31, 2014, all investment managers and assets were materially in compliance with the approved investment guidelines, therefore there were no significant concentrations (defined as greater than 10 percent of plan assets) of risk in Entergy’s pension and other postretirement benefit plan assets.

Fair Value Measurements

Accounting standards provide the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).

The three levels of the fair value hierarchy are described below:

• Level 1 - Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date.  Assets are valued based on prices derived by an independent party that uses inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.  Prices are reviewed and can be challenged with the independent parties and/or overridden if it is believed such would be more reflective of fair value.  Level 2 inputs include the following:

-     quoted prices for similar assets or liabilities in active markets;

-     quoted prices for identical assets or liabilities in inactive markets;

-     inputs other than quoted prices that are observable for the asset or liability; or

-     inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If an asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

• Level 3 - Level 3 refers to securities valued based on significant unobservable inputs.

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.  The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2014, and December 31, 2013, a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate.

Qualified Defined Benefit Pension Plan Trusts

Final Average Pay Pension Plans’ Trust

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$10,017	(b)		$—	(a)		$—		$10,017
Common	717,685		(b)	97			—		717,782
Common collective trusts	—			1,886,897		(c)	—		1,886,897
103-12 investment entities	—			259,995		(h)	—		259,995
Fixed income securities:
U.S. Government securities	240		(b)	400,059		(a)	—		400,299
Corporate debt instruments	—			548,788		(a)	—		548,788
Registered investment companies	286,534		(d)	576,641		(e)	—		863,175
Other	—			130,295		(f)	—		130,295
Other:
Insurance company general account (unallocated contracts)	—			37,818		(g)	—		37,818
Total investments		$1,014,476			$3,840,590			$—		$4,855,066
Cash									314
Other pending transactions									7,359
Less: Other postretirement assets included in total investments									(34,954		)
Total fair value of qualified pension assets										$4,827,785

Cash Balance Pension Plans’ Trust

The Cash Balance pension plans’ trust held $181 thousand of cash as of December 31, 2014.

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$6,847	(b)		$6,038	(a)		$—		$12,885
Common	915,996		(b)	—			—		915,996
Common collective trusts	—			1,753,958		(c)	—		1,753,958
Fixed income securities:
U.S. Government securities	180,718		(b)	152,915		(a)	—		333,633
Corporate debt instruments	—			464,652		(a)	—		464,652
Registered investment companies	316,863		(d)	486,748		(e)	—		803,611
Other	—			129,169		(f)	—		129,169
Other:
Insurance company general account (unallocated contracts)	—			36,886		(g)	—		36,886
Total investments		$1,420,424			$3,030,366			$—		$4,450,790
Cash									280
Other pending transactions									8,081
Less: Other postretirement assets included in total investments									(29,914		)
Total fair value of qualified    pension assets										$4,429,237

Other Postretirement Trusts

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$370,228	(c)		$—		$370,228
Fixed income securities:
U.S. Government securities	36,306		(b)	45,618		(a)	—		81,924
Corporate debt instruments	—			57,830		(a)	—		57,830
Registered investment companies	5,558		(d)	—			—		5,558
Other	—			46,968		(f)	—		46,968
Total investments		$41,864			$520,644			$—		$562,508
Other pending transactions									165
Plus:  Other postretirement assets included in the investments of the qualified pension trust									34,954
Total fair value of other postretirement assets										$597,627

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$356,700	(c)		$—		$356,700
Fixed income securities:
U.S. Government securities	40,808		(b)	43,471		(a)	—		84,279
Corporate debt instruments	—			50,563		(a)	—		50,563
Registered investment companies	4,163		(d)	—			—		4,163
Other	—			43,458		(f)	—		43,458
Total investments		$44,971			$494,192			$—		$539,163
Other pending transactions									773
Plus:  Other postretirement assets included in the investments of the qualified pension trust									29,914
Total fair value of other postretirement assets										$569,850

(a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes.

(b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices.

(c) The common collective trusts hold investments in accordance with stated objectives.  The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index.  Net asset value per share of the common collective trusts estimate fair value.

(d) The registered investment company is a money market mutual fund with a stable net asset value of one dollar per share.

(e) The registered investment company holds investments in domestic and international bond markets and estimates fair value using net asset value per share.

(f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes.

(g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value.  The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust.

(h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. Net asset value per share of the 103-12 investment entities estimate fair value.

Accumulated Pension Benefit Obligation

The accumulated benefit obligation for Entergy’s qualified pension plans was $6.6 billion and $5.2 billion at December 31, 2014 and 2013, respectively.

The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2014 and 2013 was as follows:

	December 31,
	2014		2013
	(In Thousands)
Entergy Arkansas		$1,379,108		$1,107,023
Entergy Gulf States Louisiana		$649,932		$530,974
Entergy Louisiana		$873,759		$697,945
Entergy Mississippi		$399,300		$318,941
Entergy New Orleans		$186,473		$150,239
Entergy Texas		$391,296		$332,484
System Energy		$305,556		$247,807

Estimated Future Benefit Payments

Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2014, and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows:

	Estimated Future Benefits Payments
	Qualified Pension		Non-Qualified Pension		Other Postretirement (before Medicare Subsidy)		Estimated Future Medicare Subsidy Receipts
	(In Thousands)
Year(s)
2015		$262,792		$16,173		$78,601		$455
2016		$277,307		$9,976		$80,601		$525
2017		$292,841		$10,774		$83,425		$595
2018		$310,200		$12,598		$88,049		$1,785
2019		$328,533		$11,431		$92,253		$1,984
2020 - 2024		$1,966,776		$70,791		$506,086		$13,539

Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows:

Estimated Future Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$66,156		$25,450		$37,892		$18,702		$7,397		$19,078		$11,432
2016		$67,639		$26,805		$39,070		$19,625		$7,836		$19,697		$11,949
2017		$69,207		$28,340		$40,675		$20,517		$8,304		$20,558		$12,357
2018		$71,306		$30,279		$42,336		$21,444		$8,895		$21,448		$12,977
2019		$73,795		$32,445		$44,058		$22,306		$9,368		$22,291		$13,724
2020 - 2024		$418,009		$196,323		$256,639		$125,761		$56,659		$125,001		$87,663

Estimated Future Non-Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
Year(s)
2015		$347		$241		$18		$119		$23		$753
2016		$300		$228		$17		$115		$23		$837
2017		$291		$241		$16		$124		$23		$784
2018		$282		$205		$15		$114		$23		$749
2019		$339		$199		$17		$112		$46		$720
2020 - 2024		$2,684		$924		$90		$825		$199		$3,442

Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy)	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$15,699		$8,921		$9,885		$3,926		$4,261		$6,617		$2,796
2016		$15,745		$9,219		$10,016		$4,001		$4,253		$6,785		$2,802
2017		$15,830		$9,580		$10,148		$4,125		$4,280		$7,012		$2,883
2018		$16,305		$10,110		$10,654		$4,433		$4,373		$7,438		$2,984
2019		$16,528		$10,706		$11,048		$4,599		$4,412		$7,771		$3,138
2020 - 2024		$86,854		$59,199		$60,735		$25,341		$21,584		$41,303		$17,664

Estimated Future Medicare Part D Subsidy	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$77		$37		$45		$29		$23		$34		$9
2016		$87		$41		$50		$32		$24		$37		$11
2017		$96		$46		$56		$34		$25		$40		$1
2018		$358		$168		$204		$125		$87		$142		$52
2019		$398		$184		$223		$136		$90		$151		$59
2020 - 2024		$2,593		$1,243		$1,434		$839		$506		$922		$456

Contributions

Entergy currently expects to contribute approximately $396 million to its qualified pension plans and approximately $66.9 million to other postretirement plans in 2015.  The expected 2015 pension and other postretirement plan contributions of the Registrant Subsidiaries for their employees are shown below.  The required pension contributions will not be known with more certainty until the January 1, 2015 valuations are completed by April 1, 2015.

The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2015:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Pension Contributions		$92,523		$32,455		$56,960		$22,472		$10,910		$17,166		$20,778
Other Postretirement Contributions		$16,904		$8,921		$9,885		$535		$3,669		$3,231		$475

Actuarial Assumptions

The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2014, and 2013 were as follows:

	2014	2013
Weighted-average discount rate:
Qualified pension	4.03% - 4.40% Blended 4.27%	5.04% - 5.26% Blended 5.14%
Other postretirement	4.23%	5.05%
Non-qualified pension	3.61%	4.29%
Weighted-average rate of increase in future compensation levels	4.23%	4.23%
Assumed health care trend rate:
Pre-65	7.10%	7.25%
Post-65	7.70%	7.00%
Ultimate rate	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2023	2022
Post-65	2023	2022

The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2014,  2013, and 2012 were as follows:

	2014	2013	2012
Weighted-average discount rate:
Qualified pension	5.04%-5.26% Blended 5.14%	4.31% - 4.5% Blended 4.36%	5.10% - 5.20% Blended 5.11%
Other postretirement	5.05%	4.36%	5.10%
Non-qualified pension	4.29%	3.37%	4.40%
Weighted-average rate of increase   in future compensation levels	4.23%	4.23%	4.23%
Expected long-term rate of   return on plan assets:
Pension assets	8.50%	8.50%	8.50%
Other postretirement tax deferred assets	8.30%	8.50%	8.50%
Other postretirement taxable assets	6.50%	6.50%	6.50%
Assumed health care trend rate:
Pre-65	7.25%	7.50%	7.75%
Post-65	7.00%	7.25%	7.50%
Ultimate rate	4.75%	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2022	2022	2022
Post-65	2022	2022	2022

Entergy’s other postretirement benefit transition obligations were amortized over 20 years ending in 2012.

With respect to mortality assumptions, Entergy used the RP-2014 Employee and Health Annuitant Tables, with a fully generational MP-2014 projection scale, in determining its December 31, 2014 pension plans’ PBOs and other postretirement benefit APBO. The mortality assumptions used in determining Entergy’s December 31, 2013 pension plans’ PBOs were the 1994 Group Annuity Mortality Table and RP 2000 Combined Health Mortality, with generational (using Scale AA) projected mortality improvement. The mortality assumption used in determining the December 31, 2013 other postretirement APBO was the 1994 Group Annuity Mortality Table, with generational (using Scale AA) projected mortality improvement.

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects: 

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase /(Decrease) (In Thousands)
Entergy Corporation and its   subsidiaries		$234,971		$16,769		($190,996	)		($13,566	)

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects for the Registrant Subsidiaries for their employees:

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase/(Decrease) (In Thousands)
Entergy Arkansas		$39,286		$2,448		($31,753	)		($1,971	)
Entergy Gulf States Louisiana		$27,929		$2,092		($22,591	)		($1,671	)
Entergy Louisiana		$23,779		$1,681		($19,452	)		($1,366	)
Entergy Mississippi		$10,596		$754		($8,596	)		($606	)
Entergy New Orleans		$6,373		$386		($5,317	)		($321	)
Entergy Texas		$16,246		$1,148		($13,397	)		($927	)
System Energy		$8,716		$734		($7,044	)		($586	)

Defined Contribution Plans

Entergy sponsors the Savings Plan of Entergy Corporation and Subsidiaries (System Savings Plan).  The System Savings Plan is a defined contribution plan covering eligible employees of Entergy and certain of its subsidiaries. The participating employing Entergy subsidiary makes matching contributions to the System Savings Plan for all eligible participating employees in an amount equal to either 70% or 100% of the participants’ basic contributions, up to 6% of their eligible earnings per pay period.  The matching contribution is allocated to investments as directed by the employee.

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 $43.3 million in 2014, $44.5 million in 2013, and $43.7 million in 2012.  The majority of the contributions were to the System Savings Plan.

The Registrant Subsidiaries’ 2014, 2013, and 2012 contributions to defined contribution plans for their employees were as follows:

Year	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$3,044		$1,867		$2,266		$1,855		$710		$1,563
2013		$3,351		$1,906		$2,393		$1,954		$769		$1,616
2012		$3,223		$1,842		$2,327		$1,875		$740		$1,601

System Energy [Member]

Retirement And Other Postretirement Benefits

RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS  (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Qualified Pension Plans

Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment.  The “Entergy Corporation Retirement Plan III” is a final average pay plan that provides pension benefits that are based on employees’ credited service and compensation during the final years before retirement and includes a mandatory employee contribution of 3% of earnings during the first 10 years of plan participation, and allows voluntary contributions from 1% to 10% of earnings for a limited group of employees. Non-bargaining employees hired or rehired after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.”

The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy and the assets of the two cash balance pension plans are held in a second master trust established by Entergy.  Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee.  Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes.  Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust.  The fair value of the trusts’ assets is determined by the trustee and certain investment managers.  For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis.

Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly.  Assets for each Registrant Subsidiary are increased for investment income and contributions, and are decreased for benefit payments.  A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter.

Entergy Corporation and its subsidiaries fund pension costs in accordance with contribution guidelines established by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended.  The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts.  The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions.

Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI)

Entergy Corporation and its subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components:

	2014			2013			2012
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$140,436			$172,280			$150,763
Interest cost on projected benefit obligation	290,076			263,296			260,929
Expected return on assets	(361,462		)	(328,227		)	(317,423		)
Amortization of prior service cost	1,600			2,125			2,733
Recognized net loss	145,095			213,194			167,279
Curtailment loss	—			16,318			—
Special termination benefit	732			13,139			—
Net periodic pension costs		$216,477			$352,125			$264,281
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net (gain)/loss		$1,389,912			($894,150	)		$552,303
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(1,600		)	(2,125		)	(2,733		)
Acceleration of prior service cost to curtailment	—			(1,307		)	—
Amortization of net loss	(145,095		)	(213,194		)	(167,279		)
Total	1,243,217			(1,110,776		)	382,291
Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax)		$1,459,694			($758,651	)		$646,572
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year:
Prior service cost		$1,561			$1,600			$2,268
Net loss		$237,013			$146,958			$219,805

The Registrant Subsidiaries’ total 2014, 2013, and 2012 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States  Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$20,090			$11,524			$14,182			$6,094			$2,666			$5,142			$5,785
Interest cost on projected benefit obligation	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Expected return on assets	(73,218		)	(37,950		)	(45,796		)	(22,794		)	(10,019		)	(23,723		)	(16,619		)
Amortization of prior service cost	—			—			—			—			—			—			2
Recognized net loss	35,956			15,923			24,523			9,415			5,796			9,356			9,500
Net pension cost		$42,365			$18,611			$30,779			$9,988			$6,607			$8,521			$12,229
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$300,907			$125,090			$193,842			$88,199			$38,161			$65,363			$60,763
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	—			—			—			—			—			—			(2		)
Amortization of net loss	(35,956		)	(15,923		)	(24,523		)	(9,415		)	(5,796		)	(9,356		)	(9,500		)
Total		$264,951			$109,167			$169,319			$78,784			$32,365			$56,007			$51,261
Total recognized as net periodic pension income regulatory asset, and/or AOCI (before tax)		$307,316			$127,778			$200,098			$88,772			$38,972			$64,528			$63,490
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Net loss		$54,254			$23,098			$36,704			$14,896			$8,053			$12,950			$13,055

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$25,229			$14,258			$17,044			$7,295			$3,264			$6,475			$7,242
Interest cost on projected benefit obligation	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Expected return on assets	(66,951		)	(34,982		)	(41,948		)	(21,139		)	(9,117		)	(22,277		)	(17,249		)
Amortization of prior service cost	23			9			83			10			2			6			9
Recognized net loss	49,517			23,374			34,107			13,189			7,878			13,302			9,560
Curtailment loss	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Net pension cost		$69,013			$31,013			$49,316			$16,283			$10,413			$16,223			$13,702
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net gain		($177,105	)		($98,610	)		($123,234	)		($52,525	)		($25,419	)		($55,772	)		($35,511	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(23		)	(9		)	(83		)	(10		)	(2		)	(6		)	(9		)
Amortization of net loss	(49,517		)	(23,374		)	(34,107		)	(13,189		)	(7,878		)	(13,302		)	(9,560		)
Total		($226,645	)		($121,993	)		($157,424	)		($65,724	)		($33,299	)		($69,080	)		($45,080	)
Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax)		($157,632	)		($90,980	)		($108,108	)		($49,441	)		($22,886	)		($52,857	)		($31,378	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$—			$—			$—			$—			$—			$—			$2
Net loss		$35,984			$15,935			$24,360			$9,421			$5,802			$9,363			$9,510

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Net periodic pension cost:
Service cost - benefits earned during the period		$22,169			$12,273			$14,675			$6,410			$2,824			$5,684			$5,920
Interest cost on projected benefit obligation	55,686			25,679			35,201			16,279			7,608			16,823			12,987
Expected return on assets	(65,763		)	(34,370		)	(40,836		)	(20,945		)	(8,860		)	(22,325		)	(16,436		)
Amortization of prior service cost	200			19			208			30			7			15			13
Recognized net loss	40,772			16,173			28,197			10,532			6,878			10,179			9,001
Net pension cost		$53,064			$19,774			$37,445			$12,306			$8,457			$10,376			$11,485
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$105,133			$77,207			$76,163			$27,106			$14,282			$28,745			$10,266
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service cost	(200		)	(19		)	(208		)	(30		)	(7		)	(15		)	(13		)
Amortization of net loss	(40,772		)	(16,173		)	(28,197		)	(10,532		)	(6,878		)	(10,179		)	(9,001		)
Total		$64,161			$61,015			$47,758			$16,544			$7,397			$18,551			$1,252
Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax)		$117,225			$80,789			$85,203			$28,850			$15,854			$28,927			$12,737
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year
Prior service cost		$23			$9			$83			$10			$2			$6			$10
Net loss		$50,175			$23,731			$34,906			$13,375			$8,046			$13,494			$9,717

Qualified PensionObligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet for Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$5,770,999			$6,096,639
Service cost	140,436			172,280
Interest cost	290,076			263,296
Curtailment	—			15,011
Special termination benefit	732			13,139
Actuarial loss/(gain)	1,284,049			(571,990		)
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Balance at end of year		$7,230,542			$5,770,999
Change in Plan Assets
Fair value of assets at beginning of year		$4,429,237			$3,832,860
Actual return on plan assets	255,599			650,386
Employer contributions	398,880			163,367
Employee contributions	560			598
Benefits paid	(256,310		)	(217,974		)
Fair value of assets at end of year		$4,827,966			$4,429,237
Funded status		($2,402,576	)		($1,341,762	)
Amount recognized in the balance sheet
Non-current liabilities		($2,402,576	)		($1,341,762	)
Amount recognized as a regulatory asset
Prior service cost		$3,704			$5,027
Net loss	2,451,172			1,494,117
		$2,454,876			$1,499,144
Amount recognized as AOCI (before tax)
Prior service cost		$1,015			$1,292
Net loss	671,682			383,920
		$672,697			$385,212

Qualified Pension Obligations, Plan Assets, Funded Status, and Amounts Recognized in the Balance Sheet for the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Service cost	20,090			11,524			14,182			6,094			2,666			5,142			5,785
Interest cost	59,537			29,114			37,870			17,273			8,164			17,746			13,561
Actuarial loss	279,781			113,883			180,763			81,600			35,131			58,556			55,410
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Balance at end of year		$1,485,718			$709,994			$956,541			$432,169			$202,555			$418,498			$334,312
Change in Plan Assets
Fair value of assets at beginning of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Actual return on plan assets	52,092			26,744			32,716			16,196			6,988			16,916			11,265
Employer contributions	95,464			30,176			54,549			21,839			10,509			17,072			21,261
Benefits paid	(66,330		)	(24,389		)	(37,624		)	(18,622		)	(7,113		)	(19,026		)	(11,233		)
Fair value of assets at end of year		$977,521			$501,826			$611,533			$301,250			$133,344			$310,713			$217,621
Funded status		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($508,197	)		($208,168	)		($345,008	)		($130,919	)		($69,211	)		($107,785	)		($116,691	)
Amounts recognized as  regulatory asset
Net loss		$722,119			$272,695			$468,779			$198,972			$102,141			$176,522			$172,463
Amounts recognized as AOCI (before tax)
Net loss		$—			$40,748			$—			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in Projected Benefit Obligation (PBO)
Balance at beginning of year		$1,274,886			$623,068			$817,745			$369,852			$174,585			$382,176			$282,841
Service cost	25,229			14,258			17,044			7,295			3,264			6,475			7,242
Interest cost	54,473			26,741			34,857			15,802			7,462			16,303			12,170
Curtailment	4,938			805			3,542			767			343			1,559			—
Special termination benefit	1,784			808			1,631			359			581			855			1,970
Actuarial gain	(110,943		)	(64,119		)	(80,794		)	(31,684		)	(16,276		)	(33,792		)	(23,882		)
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Balance at end of year		$1,192,640			$579,862			$761,350			$345,824			$163,707			$356,080			$270,789
Change in Plan Assets
Fair value of assets at beginning of year		$785,527			$409,971			$489,027			$248,272			$106,778			$262,110			$168,697
Actual return on plan assets	133,113			69,473			84,388			41,980			18,259			44,257			28,878
Employer contributions	35,382			11,550			21,152			8,152			4,175			6,880			8,305
Benefits paid	(57,727		)	(21,699		)	(32,675		)	(16,567		)	(6,252		)	(17,496		)	(9,552		)
Fair value of assets at end of year		$896,295			$469,295			$561,892			$281,837			$122,960			$295,751			$196,328
Funded status		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized in the  balance sheet (funded status)
Non-current liabilities		($296,345	)		($110,567	)		($199,458	)		($63,987	)		($40,747	)		($60,329	)		($74,461	)
Amounts recognized as  regulatory asset
Prior service cost		$—			$—			($1	)		$—			$—			$—			($4	)
Net loss	457,485			178,990			299,740			120,290			69,856			120,619			121,327
		$457,485			$178,990			$299,739			$120,290			$69,856			$120,619			$121,323
Amounts recognized as AOCI  (before tax)
Net loss		$—			$25,437			$—			$—			$—			$—			$—

Other Postretirement Benefits

Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees.  Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits.

In December 2013, Entergy announced changes to its other postretirement benefits which include, among other things, elimination of other postretirement benefits for all non-bargaining employees hired or rehired after June 30, 2014 and for certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreement, and setting a dollar limit cap on Entergy’s contribution to retiree medical costs, effective 2019 for those non-bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 and for certain bargaining employees who commence their Entergy retirement benefits on or after January 1, 2015 or such later date as provided for in their applicable collective bargaining agreement. In accordance with accounting standards, certain of the other postretirement benefit changes have been reflected in the December 31, 2013 other postretirement obligation. The changes affecting active bargaining unit employees are being negotiated with the unions prior to implementation, where necessary, and to the extent required by law.

Entergy uses a December 31 measurement date for its postretirement benefit plans.

Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions.  At January 1, 1993, the actuarially determined accumulated postretirement benefit obligation (APBO) earned by retirees and active employees was estimated to be approximately $241.4 million for Entergy (other than the former Entergy Gulf States) and $128 million for the former Entergy Gulf States (now split into Entergy Gulf States Louisiana and Entergy Texas).  Such obligations were being amortized over a 20-year period that began in 1993 and ended in 2012.  For the most part, the Registrant Subsidiaries recover accrued other postretirement benefit costs from customers and are required to contribute the other postretirement benefits collected in rates to an external trust.

Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates.  Entergy Arkansas began recovery in 1998, pursuant to an APSC order.  This order also allowed Entergy Arkansas to amortize a regulatory asset (representing the difference between other postretirement benefit costs and cash expenditures for other postretirement benefits incurred from 1993 through 1997) over a 15-year period that began in January 1998 and ended in December 2012.

The LPSC ordered Entergy Gulf States Louisiana and Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions.  However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted.

Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts.  System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf.

Trust assets contributed by participating Registrant Subsidiaries are in bank-administered master trusts, established by Entergy Corporation and maintained by a trustee.  Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets.  The assets in the master trusts are commingled for investment and administrative purposes.  Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses.  Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts.

Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI

Entergy Corporation’s and its subsidiaries’ total 2014, 2013, and 2012 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components:

	2014			2013			2012
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$43,493			$74,654			$68,883
Interest cost on APBO	71,841			79,453			82,561
Expected return on assets	(44,787		)	(40,323		)	(34,503		)
Amortization of transition obligation	—			—			3,177
Amortization of prior service credit	(31,590		)	(14,904		)	(18,163		)
Recognized net loss	11,143			44,178			36,448
Curtailment loss	—			12,729			—
Net other postretirement benefit cost		$50,100			$155,787			$138,403
Other changes in plan assets and benefit  obligations recognized as a regulatory asset  and /or AOCI (before tax)
Arising this period:
Prior service credit for period		($35,864	)		($116,571	)		$—
Net loss/(gain)	287,313			(405,976		)	92,584
Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year:
Amortization of transition obligation	—			—			(3,177		)
Amortization of prior service credit	31,590			14,904			18,163
Acceleration of prior service credit due to curtailment	—			1,989			—
Amortization of net loss	(11,143		)	(44,178		)	(36,448		)
Total		$271,896			($549,832	)		$71,122
Total recognized as net periodic benefit income/(cost),  regulatory asset, and/or AOCI (before tax)		$321,996			($394,045	)		$209,525
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic  benefit cost  in the following year
Prior service credit		($37,280	)		($31,589	)		($13,336	)
Net loss		$31,591			$11,197			$45,217

Total 2014, 2013, and 2012 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$5,957			$4,896			$4,518			$1,900			$868			$2,378			$2,058
Interest cost on APBO	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Expected return on assets	(19,135		)	—			—			(5,771		)	(4,475		)	(10,358		)	(3,727		)
Amortization of prior credit	(2,441		)	(2,237		)	(3,377		)	(915		)	(709		)	(1,300		)	(824		)
Recognized net loss	1,267			1,212			1,511			149			56			801			443
Net other postretirement benefit (income)/cost		($2,091	)		$12,249			$10,916			($982	)		($1,455	)		($2,827	)		$561
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		$—			($12,845	)		$—			$—			$—			($8,536	)		($3,845	)
Net loss		$55,642			$36,467			$24,582			$9,525			$6,309			$24,482			$10,596
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	2,441			2,237			3,377			915			709			1,300			824
Amortization of net loss	(1,267		)	(1,212		)	(1,511		)	(149		)	(56		)	(801		)	(443		)
Total		$56,816			$24,647			$26,448			$10,291			$6,962			$16,445			$7,132
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$54,725			$36,896			$37,364			$9,309			$5,507			$13,618			$7,693
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($4,086	)		($3,381	)		($916	)		($709	)		($2,723	)		($1,465	)
Net loss		$5,356			$3,908			$3,210			$860			$470			$2,740			$1,198

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,619			$7,910			$8,541			$3,246			$1,752			$3,760			$3,580
Interest cost on APBO	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Expected return on assets	(16,843		)	—			—			(5,335		)	(4,101		)	(9,391		)	(3,350		)
Amortization of prior credit	(689		)	(942		)	(508		)	(204		)	(24		)	(501		)	(126		)
Recognized net loss	7,976			4,598			5,050			2,534			1,509			3,744			1,896
Curtailment loss	4,517			1,546			1,848			596			354			1,436			760
Net other postretirement benefit cost		$18,125			$22,076			$24,341			$5,126			$2,625			$5,124			$5,705
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Prior service credit for the period		($11,617	)		($8,705	)		($18,844	)		($4,714	)		($4,469	)		($5,359	)		($4,591	)
Net loss		($81,236	)		($40,938	)		($43,743	)		($30,018	)		($18,508	)		($34,562	)		($17,579	)
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of prior service credit	689			942			508			204			24			501			126
Acceleration of prior service credit/(cost) due to curtailment	78			91			41			20			(4		)	62			9
Amortization of net loss	(7,976		)	(4,598		)	(5,050		)	(2,534		)	(1,509		)	(3,744		)	(1,896		)
Total		($100,062	)		($53,208	)		($67,088	)		($37,042	)		($24,466	)		($43,102	)		($23,931	)
Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax)		($81,937	)		($31,132	)		($42,747	)		($31,916	)		($21,841	)		($37,978	)		($18,226	)
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service credit		($2,441	)		($2,236	)		($3,376	)		($918	)		($709	)		($1,301	)		($824	)
Net loss		$1,267			$1,212			$1,511			$149			$56			$800			$464

2012	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Other postretirement costs:
Service cost - benefits earned during the period		$9,089			$7,521			$7,796			$3,093			$1,689			$3,651			$3,293
Interest cost on APBO	14,452			9,590			9,781			4,716			3,422			6,650			3,028
Expected return on assets	(14,029		)	—			—			(4,521		)	(3,711		)	(8,415		)	(2,601		)
Amortization of transition obligation	820			238			382			351			1,189			187			8
Amortization of prior service cost/(credit)	(530		)	(824		)	(247		)	(139		)	38			(428		)	(63		)
Recognized net loss	8,305			4,737			4,359			2,920			1,559			4,320			1,970
Net other postretirement benefit cost		$18,107			$21,262			$22,071			$6,420			$4,186			$5,965			$5,635
Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax)
Arising this period:
Net loss		$9,066			$5,818			$16,215			$271			$2,260			$191			$2,043
Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year:
Amortization of transition obligation	(820		)	(238		)	(382		)	(351		)	(1,189		)	(187		)	(8		)
Amortization of prior service (cost)/credit	530			824			247			139			(38		)	428			63
Amortization of net loss	(8,305		)	(4,737		)	(4,359		)	(2,920		)	(1,559		)	(4,320		)	(1,970		)
Total		$471			$1,667			$11,721			($2,861	)		($526	)		($3,888	)		$128
Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax)		$18,578			$22,929			$33,792			$3,559			$3,660			$2,077			$5,763
Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost  in the following year
Prior service cost/(credit)		($530	)		($824	)		($247	)		($139	)		$38			($428	)		($62	)
Net loss		$8,163			$4,693			$5,149			$2,650			$1,587			$3,905			$1,915

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet of Entergy Corporation and its Subsidiaries as of December 31, 2014 and 2013

	December 31,
	2014			2013
	(In Thousands)
Change in APBO
Balance at beginning of year		$1,461,910			$1,846,922
Service cost	43,493			74,654
Interest cost	71,841			79,453
Plan amendments	(35,864		)	(116,571		)
Curtailment	—			14,718
Plan participant contributions	22,160			19,141
Actuarial loss/(gain)	274,061			(370,004		)
Benefits paid	(102,439		)	(89,713		)
Medicare Part D subsidy received	4,395			3,310
Balance at end of year		$1,739,557			$1,461,910
Change in Plan Assets
Fair value of assets at beginning of year		$569,850			$488,448
Actual return on plan assets	31,535			76,314
Employer contributions	76,521			75,660
Plan participant contributions	22,160			19,141
Benefits paid	(102,439		)	(89,713		)
Fair value of assets at end of year		$597,627			$569,850
Funded status		($1,141,930	)		($892,060	)
Amounts recognized in the balance sheet
Current liabilities		($41,821	)		($40,602	)
Non-current liabilities	(1,100,109		)	(851,458		)
Total funded status		($1,141,930	)		($892,060	)
Amounts recognized as a regulatory asset
Prior service credit		($54,508	)		($93,332	)
Net loss	248,918			165,270
		$194,410			$71,938
Amounts recognized as AOCI (before tax)
Prior service credit		($104,086	)		($60,988	)
Net loss	300,518			107,996
		$196,432			$47,008

Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2014 and 2013

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Service cost	5,957			4,896			4,518			1,900			868			2,378			2,058
Interest cost	12,261			8,378			8,264			3,655			2,805			5,652			2,611
Plan amendments	—			(12,845		)	—			—			—			(8,536		)	(3,845		)
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Actuarial loss	49,573			36,467			24,582			7,939			5,097			21,471			9,524
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Medicare Part D subsidy received	980			520			654			322			222			440			152
Balance at end of year		$303,716			$199,409			$195,537			$83,162			$63,779			$130,145			$60,754
Change in Plan Assets
Fair value of assets at beginning of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Actual return on plan assets	13,066			—			—			4,185			3,263			7,347			2,655
Employer contributions	15,251			8,309			11,245			8,505			4,289			3,446			334
Plan participant contributions	5,195			2,304			2,767			1,396			1,044			1,655			1,061
Benefits paid	(20,984		)	(10,613		)	(14,012		)	(6,589		)	(4,131		)	(8,333		)	(3,858		)
Fair value of assets at end of year		$244,191			$—			$—			$80,935			$71,004			$135,733			$48,293
Funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,884	)		($9,840	)		$—			$—			$—			$—
Non-current liabilities	(59,525		)	(190,525		)	(185,697		)	(2,227		)	7,225			5,588			(12,461		)
Total funded status		($59,525	)		($199,409	)		($195,537	)		($2,227	)		$7,225			$5,588			($12,461	)
Amounts recognized in regulatory asset
Prior service credit		($10,555	)		$—			$—			($4,141	)		($3,626	)		($13,741	)		($7,723	)
Net loss	94,647			—			—			18,680			12,738			46,453			20,450
		$84,092			$—			$—			$14,539			$9,112			$32,712			$12,727
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($20,967	)		($16,013	)		$—			$—			$—			$—
Net loss	—			66,832			58,072			—			—			—			—
		$—			$45,865			$42,059			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas			System Energy
	(In Thousands)
Change in APBO
Balance at beginning of year		$315,308			$207,987			$220,017			$100,508			$74,200			$142,114			$67,934
Service cost	9,619			7,910			8,541			3,246			1,752			3,760			3,580
Interest cost	13,545			8,964			9,410			4,289			3,135			6,076			2,945
Plan amendments	(11,617		)	(8,705		)	(18,844		)	(4,714		)	(4,469		)	(5,359		)	(4,591		)
Curtailment	4,595			1,637			1,889			616			350			1,498			769
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Actuarial gain	(67,253		)	(40,941		)	(43,747		)	(25,527		)	(13,739		)	(26,048		)	(14,639		)
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Medicare Part D subsidy received	737			410			513			245			194			334			105
Balance at end of year		$250,734			$170,302			$168,764			$74,539			$57,874			$115,418			$53,051
Change in Plan Assets
Fair value of assets at beginning of year		$194,018			$—			$—			$62,951			$58,651			$115,824			$39,474
Actual return on plan assets	30,830			—			—			9,826			8,870			17,905			6,292
Employer contributions	21,015			6,960			9,015			4,785			2,567			4,846			5,387
Plan participant contributions	4,564			1,998			2,509			1,292			915			1,498			860
Benefits paid	(18,764		)	(8,958		)	(11,524		)	(5,416		)	(4,464		)	(8,455		)	(3,912		)
Fair value of assets at end of year		$231,663			$—			$—			$73,438			$66,539			$131,618			$48,101
Funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in the balance sheet
Current liabilities		$—			($8,803	)		($10,249	)		$—			$—			$—			$—
Non-current liabilities	(19,071		)	(161,499		)	(158,515		)	(1,101		)	8,665			16,200			(4,950		)
Total funded status		($19,071	)		($170,302	)		($168,764	)		($1,101	)		$8,665			$16,200			($4,950	)
Amounts recognized in regulatory asset
Prior service credit		($12,996	)		$—			$—			($5,056	)		($4,335	)		($6,505	)		($4,702	)
Net loss	40,272			—			—			9,304			6,485			22,772			10,297
		$27,276			$—			$—			$4,248			$2,150			$16,267			$5,595
Amounts recognized in AOCI (before tax)
Prior service credit		$—			($10,359	)		($19,390	)		$—			$—			$—			$—
Net loss	—			31,577			35,001			—			—			—			—
		$—			$21,218			$15,611			$—			$—			$—			$—

Non-Qualified Pension Plans

Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  Entergy recognized net periodic pension cost related to these plans of $32.4 million in 2014, $54.5 million in 2013, and $26.5 million in 2012.  In 2014, 2013, and 2012 Entergy recognized $15.1 million, $33 million, and $6.3 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above.  The projected benefit obligation was $151.8 million and $154.3 million as of December 31, 2014 and 2013, respectively.  The accumulated benefit obligation was $130.6 million and $131.4 million as of December 31, 2014 and 2013, respectively.

Entergy’s non-qualified, non-current pension liability at December 31, 2014 and 2013 was $135.6 million and $127.5 million, respectively; and its current liability was $16.2 million and $26.8 million, respectively.  The unamortized prior service cost and net loss are recognized in regulatory assets ($60.3 million at December 31, 2014 and $59.1 million at December 31, 2013) and accumulated other comprehensive income before taxes ($23.5 million at December 31, 2014 and $26.1 million at December 31, 2013).

The Registrant Subsidiaries (except System Energy) participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees.  The net periodic pension cost for their employees for the non-qualified plans for 2014, 2013, and 2012, was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$754		$130		$5		$190		$95		$491
2013		$448		$151		$12		$192		$92		$1,001
2012		$464		$158		$12		$183		$79		$648

Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2013 net periodic pension cost above are settlement charges of $415 thousand for Entergy Texas related to the lump sum benefits paid out of the plan.  Included in the 2012 net periodic pension cost above are settlement charges of $38 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan.  

The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,495		$2,693		$158		$2,128		$476		$9,567
2013		$4,162		$2,511		$50		$1,752		$434		$7,910

The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2014 and 2013 was as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$4,086		$2,693		$131		$1,761		$436		$9,215
2013		$3,765		$2,510		$50		$1,528		$387		$7,496

The following amounts were recorded on the balance sheet as of December 31, 2014 and 2013:

2014	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($347	)		($241	)		($18	)		($119	)		($23	)		($753	)
Non-current liabilities	(4,148		)	(2,452		)	(140		)	(2,009		)	(453		)	(8,814		)
Total funded status		($4,495	)		($2,693	)		($158	)		($2,128	)		($476	)		($9,567	)
Regulatory asset/(liability)		$2,368			$659			$37			$942			($65	)		$296
Accumulated other comprehensive income (before taxes)		$—			$98			$—			$—			$—			$—

2013	Entergy Arkansas			Entergy Gulf States Louisiana			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Thousands)
Current liabilities		($367	)		($262	)		($6	)		($118	)		($20	)		($786	)
Non-current liabilities	(3,795		)	(2,249		)	(44		)	(1,634		)	(414		)	(7,124		)
Total funded status		($4,162	)		($2,511	)		($50	)		($1,752	)		($434	)		($7,910	)
Regulatory asset/(liability)		$1,979			$422			($87	)		$637			($18	)		($1,631	)
Accumulated other comprehensive income (before taxes)		$—			$57			$—			$—			$—			$—

Reclassification out of Accumulated Other Comprehensive Income

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2014:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,559	)		$22,280			($427	)		$20,294
Amortization of loss	(26,934		)	(6,689		)	(2,213		)	(35,836		)
Settlement loss	—			—			(3,643		)	(3,643		)
		($28,493	)		$15,591			($6,283	)		($19,185	)
Entergy Gulf States Louisiana
Amortization of prior service cost		$—			$2,237			$—			$2,237
Amortization of loss	(1,911		)	(1,212		)	(3		)	(3,126		)
		($1,911	)		$1,025			($3	)		($889	)
Entergy Louisiana
Amortization of prior service cost		$—			$3,377			$—			$3,377
Amortization of loss	—			(1,511		)	—			(1,511		)
		$—			$1,866			$—			$1,866

Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) as of December 31, 2013:

	Qualified Pension Costs			Other Postretirement Costs			Non-Qualified Pension Costs			Total
	(In Thousands)
Entergy
Amortization of prior service cost		($1,866	)		$12,925			($503	)		$10,556
Acceleration of prior service cost due to curtailment	(1,304		)	1,797			(178		)	315
Amortization of loss	(43,971		)	(21,590		)	(2,569		)	(68,130		)
Settlement loss	—			—			(11,612		)	(11,612		)
		($47,141	)		($6,868	)		($14,862	)		($68,871	)
Entergy Gulf States Louisiana
Amortization of prior service cost		($1	)		$942			$—			$941
Acceleration of prior service cost due to curtailment	—			91			—			91
Amortization of loss	(3,039		)	(4,598		)	(7		)	(7,644		)
		($3,040	)		($3,565	)		($7	)		($6,612	)
Entergy Louisiana
Amortization of prior service cost		$—			$508			$—			$508
Acceleration of prior service cost due to curtailment	—			41			—			41
Amortization of loss	—			(5,050		)	—			(5,050		)
		$—			($4,501	)		$—			($4,501	)

Accounting for Pension and Other Postretirement Benefits

Accounting standards require an employer to recognize in its balance sheet the funded status of its benefit plans.  This is measured as the difference between plan assets at fair value and the benefit obligation.  Entergy uses a December 31 measurement date for its pension and other postretirement plans.  Employers are to record previously unrecognized gains and losses, prior service costs, and any remaining transition asset or obligation (that resulted from adopting prior pension and other postretirement benefits accounting standards) as comprehensive income and/or as a regulatory asset reflective of the recovery mechanism for pension and other postretirement benefit costs in the Registrant Subsidiaries’ respective regulatory jurisdictions.  For the portion of Entergy Gulf States Louisiana that is not regulated, the unrecognized prior service cost, gains and losses, and transition asset/obligation for its pension and other postretirement benefit obligations are recorded as other comprehensive income.  Entergy Gulf States Louisiana and Entergy Louisiana recover other postretirement benefit costs on a pay-as-you-go basis and record the unrecognized prior service cost, gains and losses, and transition obligation for its other postretirement benefit obligation as other comprehensive income.  Accounting standards also require that changes in the funded status be recorded as other comprehensive income and/or a regulatory asset in the period in which the changes occur.

With regard to pension and other postretirement costs, Entergy calculates the expected return on pension and other postretirement benefit plan assets by multiplying the long-term expected rate of return on assets by the market-related value (MRV) of plan assets.  Entergy determines the MRV of pension plan assets by calculating a value that uses a 20-quarter phase-in of the difference between actual and expected returns.  For other postretirement benefit plan assets Entergy uses fair value when determining MRV.

Qualified Pension and Other Postretirement Plans’ Assets

The Plan Administrator’s trust asset investment strategy is to invest the assets in a manner whereby long-term earnings on the assets (plus cash contributions) provide adequate funding for retiree benefit payments.  The mix of assets is based on an optimization study that identifies asset allocation targets in order to achieve the maximum return for an acceptable level of risk, while minimizing the expected contributions and pension and postretirement expense.

In the optimization studies, the Plan Administrator formulates assumptions about characteristics, such as expected asset class investment returns, volatility (risk), and correlation coefficients among the various asset classes.  The future market assumptions used in the optimization study are determined by examining historical market characteristics of the various asset classes and making adjustments to reflect future conditions expected to prevail over the study period.  

The target asset allocation for pension adjusts dynamically based on the pension plans' funded status. The current targets are shown below. The expectation is that the allocation to fixed income securities will increase as the pension plans' funded status increases. The following ranges were established to produce an acceptable, economically efficient plan to manage around the targets. 

The target and range asset allocation for postretirement assets reflects changes made in 2012 as recommended in the latest optimization study.

Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2014 and 2013 and the target asset allocation and ranges are as follows:

Pension Asset Allocation	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	45%	34%	to	53%	45%	46%
International Equity Securities	20%	16%	to	24%	19%	20%
Fixed Income Securities	35%	31%	to	41%	35%	33%
Other	0%	0%	to	10%	1%	1%

Postretirement Asset Allocation	Non-Taxable and Taxable
	Target	Range			Actual 2014	Actual 2013
Domestic Equity Securities	39%	34%	to	44%	42%	40%
International Equity Securities	26%	21%	to	31%	25%	26%
Fixed Income Securities	35%	30%	to	40%	33%	34%
Other	0%	0%	to	5%	0%	0%

In determining its expected long-term rate of return on plan assets used in the calculation of benefit plan costs, Entergy reviews past performance, current and expected future asset allocations, and capital market assumptions of its investment consultant and some investment managers.

The expected long-term rate of return for the qualified pension plans’ assets is based primarily on the geometric average of the historical annual performance of a representative portfolio weighted by the target asset allocation defined in the table above, along with other indications of expected return on assets. The time period reflected is a long dated period spanning several decades.

The expected long-term rate of return for the non-taxable postretirement trust assets is determined using the same methodology described above for pension assets, but the asset allocation specific to the non-taxable postretirement assets is used.

For the taxable postretirement trust assets, the investment allocation includes tax-exempt fixed income securities.  This asset allocation in combination with the same methodology employed to determine the expected return for other trust assets (as described above), with a modification to reflect applicable taxes, is used to produce the expected long-term rate of return for taxable postretirement trust assets.

Concentrations of Credit Risk

Entergy’s investment guidelines mandate the avoidance of risk concentrations.  Types of concentrations specified to be avoided include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country, geographic area and individual security issuance.  As of December 31, 2014, all investment managers and assets were materially in compliance with the approved investment guidelines, therefore there were no significant concentrations (defined as greater than 10 percent of plan assets) of risk in Entergy’s pension and other postretirement benefit plan assets.

Fair Value Measurements

Accounting standards provide the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).

The three levels of the fair value hierarchy are described below:

• Level 1 - Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date.  Assets are valued based on prices derived by an independent party that uses inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads.  Prices are reviewed and can be challenged with the independent parties and/or overridden if it is believed such would be more reflective of fair value.  Level 2 inputs include the following:

-     quoted prices for similar assets or liabilities in active markets;

-     quoted prices for identical assets or liabilities in inactive markets;

-     inputs other than quoted prices that are observable for the asset or liability; or

-     inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If an asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

• Level 3 - Level 3 refers to securities valued based on significant unobservable inputs.

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.  The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2014, and December 31, 2013, a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate.

Qualified Defined Benefit Pension Plan Trusts

Final Average Pay Pension Plans’ Trust

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$10,017	(b)		$—	(a)		$—		$10,017
Common	717,685		(b)	97			—		717,782
Common collective trusts	—			1,886,897		(c)	—		1,886,897
103-12 investment entities	—			259,995		(h)	—		259,995
Fixed income securities:
U.S. Government securities	240		(b)	400,059		(a)	—		400,299
Corporate debt instruments	—			548,788		(a)	—		548,788
Registered investment companies	286,534		(d)	576,641		(e)	—		863,175
Other	—			130,295		(f)	—		130,295
Other:
Insurance company general account (unallocated contracts)	—			37,818		(g)	—		37,818
Total investments		$1,014,476			$3,840,590			$—		$4,855,066
Cash									314
Other pending transactions									7,359
Less: Other postretirement assets included in total investments									(34,954		)
Total fair value of qualified pension assets										$4,827,785

Cash Balance Pension Plans’ Trust

The Cash Balance pension plans’ trust held $181 thousand of cash as of December 31, 2014.

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Corporate stocks:
Preferred		$6,847	(b)		$6,038	(a)		$—		$12,885
Common	915,996		(b)	—			—		915,996
Common collective trusts	—			1,753,958		(c)	—		1,753,958
Fixed income securities:
U.S. Government securities	180,718		(b)	152,915		(a)	—		333,633
Corporate debt instruments	—			464,652		(a)	—		464,652
Registered investment companies	316,863		(d)	486,748		(e)	—		803,611
Other	—			129,169		(f)	—		129,169
Other:
Insurance company general account (unallocated contracts)	—			36,886		(g)	—		36,886
Total investments		$1,420,424			$3,030,366			$—		$4,450,790
Cash									280
Other pending transactions									8,081
Less: Other postretirement assets included in total investments									(29,914		)
Total fair value of qualified    pension assets										$4,429,237

Other Postretirement Trusts

2014	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$370,228	(c)		$—		$370,228
Fixed income securities:
U.S. Government securities	36,306		(b)	45,618		(a)	—		81,924
Corporate debt instruments	—			57,830		(a)	—		57,830
Registered investment companies	5,558		(d)	—			—		5,558
Other	—			46,968		(f)	—		46,968
Total investments		$41,864			$520,644			$—		$562,508
Other pending transactions									165
Plus:  Other postretirement assets included in the investments of the qualified pension trust									34,954
Total fair value of other postretirement assets										$597,627

2013	Level 1			Level 2			Level 3		Total
	(In Thousands)
Equity securities:
Common collective trust		$—			$356,700	(c)		$—		$356,700
Fixed income securities:
U.S. Government securities	40,808		(b)	43,471		(a)	—		84,279
Corporate debt instruments	—			50,563		(a)	—		50,563
Registered investment companies	4,163		(d)	—			—		4,163
Other	—			43,458		(f)	—		43,458
Total investments		$44,971			$494,192			$—		$539,163
Other pending transactions									773
Plus:  Other postretirement assets included in the investments of the qualified pension trust									29,914
Total fair value of other postretirement assets										$569,850

(a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes.

(b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices.

(c) The common collective trusts hold investments in accordance with stated objectives.  The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index.  Net asset value per share of the common collective trusts estimate fair value.

(d) The registered investment company is a money market mutual fund with a stable net asset value of one dollar per share.

(e) The registered investment company holds investments in domestic and international bond markets and estimates fair value using net asset value per share.

(f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes.

(g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value.  The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust.

(h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. Net asset value per share of the 103-12 investment entities estimate fair value.

Accumulated Pension Benefit Obligation

The accumulated benefit obligation for Entergy’s qualified pension plans was $6.6 billion and $5.2 billion at December 31, 2014 and 2013, respectively.

The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2014 and 2013 was as follows:

	December 31,
	2014		2013
	(In Thousands)
Entergy Arkansas		$1,379,108		$1,107,023
Entergy Gulf States Louisiana		$649,932		$530,974
Entergy Louisiana		$873,759		$697,945
Entergy Mississippi		$399,300		$318,941
Entergy New Orleans		$186,473		$150,239
Entergy Texas		$391,296		$332,484
System Energy		$305,556		$247,807

Estimated Future Benefit Payments

Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2014, and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows:

	Estimated Future Benefits Payments
	Qualified Pension		Non-Qualified Pension		Other Postretirement (before Medicare Subsidy)		Estimated Future Medicare Subsidy Receipts
	(In Thousands)
Year(s)
2015		$262,792		$16,173		$78,601		$455
2016		$277,307		$9,976		$80,601		$525
2017		$292,841		$10,774		$83,425		$595
2018		$310,200		$12,598		$88,049		$1,785
2019		$328,533		$11,431		$92,253		$1,984
2020 - 2024		$1,966,776		$70,791		$506,086		$13,539

Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows:

Estimated Future Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$66,156		$25,450		$37,892		$18,702		$7,397		$19,078		$11,432
2016		$67,639		$26,805		$39,070		$19,625		$7,836		$19,697		$11,949
2017		$69,207		$28,340		$40,675		$20,517		$8,304		$20,558		$12,357
2018		$71,306		$30,279		$42,336		$21,444		$8,895		$21,448		$12,977
2019		$73,795		$32,445		$44,058		$22,306		$9,368		$22,291		$13,724
2020 - 2024		$418,009		$196,323		$256,639		$125,761		$56,659		$125,001		$87,663

Estimated Future Non-Qualified Pension Benefits Payments	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
Year(s)
2015		$347		$241		$18		$119		$23		$753
2016		$300		$228		$17		$115		$23		$837
2017		$291		$241		$16		$124		$23		$784
2018		$282		$205		$15		$114		$23		$749
2019		$339		$199		$17		$112		$46		$720
2020 - 2024		$2,684		$924		$90		$825		$199		$3,442

Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy)	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$15,699		$8,921		$9,885		$3,926		$4,261		$6,617		$2,796
2016		$15,745		$9,219		$10,016		$4,001		$4,253		$6,785		$2,802
2017		$15,830		$9,580		$10,148		$4,125		$4,280		$7,012		$2,883
2018		$16,305		$10,110		$10,654		$4,433		$4,373		$7,438		$2,984
2019		$16,528		$10,706		$11,048		$4,599		$4,412		$7,771		$3,138
2020 - 2024		$86,854		$59,199		$60,735		$25,341		$21,584		$41,303		$17,664

Estimated Future Medicare Part D Subsidy	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Year(s)
2015		$77		$37		$45		$29		$23		$34		$9
2016		$87		$41		$50		$32		$24		$37		$11
2017		$96		$46		$56		$34		$25		$40		$1
2018		$358		$168		$204		$125		$87		$142		$52
2019		$398		$184		$223		$136		$90		$151		$59
2020 - 2024		$2,593		$1,243		$1,434		$839		$506		$922		$456

Contributions

Entergy currently expects to contribute approximately $396 million to its qualified pension plans and approximately $66.9 million to other postretirement plans in 2015.  The expected 2015 pension and other postretirement plan contributions of the Registrant Subsidiaries for their employees are shown below.  The required pension contributions will not be known with more certainty until the January 1, 2015 valuations are completed by April 1, 2015.

The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2015:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
Pension Contributions		$92,523		$32,455		$56,960		$22,472		$10,910		$17,166		$20,778
Other Postretirement Contributions		$16,904		$8,921		$9,885		$535		$3,669		$3,231		$475

Actuarial Assumptions

The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2014, and 2013 were as follows:

	2014	2013
Weighted-average discount rate:
Qualified pension	4.03% - 4.40% Blended 4.27%	5.04% - 5.26% Blended 5.14%
Other postretirement	4.23%	5.05%
Non-qualified pension	3.61%	4.29%
Weighted-average rate of increase in future compensation levels	4.23%	4.23%
Assumed health care trend rate:
Pre-65	7.10%	7.25%
Post-65	7.70%	7.00%
Ultimate rate	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2023	2022
Post-65	2023	2022

The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2014,  2013, and 2012 were as follows:

	2014	2013	2012
Weighted-average discount rate:
Qualified pension	5.04%-5.26% Blended 5.14%	4.31% - 4.5% Blended 4.36%	5.10% - 5.20% Blended 5.11%
Other postretirement	5.05%	4.36%	5.10%
Non-qualified pension	4.29%	3.37%	4.40%
Weighted-average rate of increase   in future compensation levels	4.23%	4.23%	4.23%
Expected long-term rate of   return on plan assets:
Pension assets	8.50%	8.50%	8.50%
Other postretirement tax deferred assets	8.30%	8.50%	8.50%
Other postretirement taxable assets	6.50%	6.50%	6.50%
Assumed health care trend rate:
Pre-65	7.25%	7.50%	7.75%
Post-65	7.00%	7.25%	7.50%
Ultimate rate	4.75%	4.75%	4.75%
Year ultimate rate is reached and beyond:
Pre-65	2022	2022	2022
Post-65	2022	2022	2022

Entergy’s other postretirement benefit transition obligations were amortized over 20 years ending in 2012.

With respect to mortality assumptions, Entergy used the RP-2014 Employee and Health Annuitant Tables, with a fully generational MP-2014 projection scale, in determining its December 31, 2014 pension plans’ PBOs and other postretirement benefit APBO. The mortality assumptions used in determining Entergy’s December 31, 2013 pension plans’ PBOs were the 1994 Group Annuity Mortality Table and RP 2000 Combined Health Mortality, with generational (using Scale AA) projected mortality improvement. The mortality assumption used in determining the December 31, 2013 other postretirement APBO was the 1994 Group Annuity Mortality Table, with generational (using Scale AA) projected mortality improvement.

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects: 

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase /(Decrease) (In Thousands)
Entergy Corporation and its   subsidiaries		$234,971		$16,769		($190,996	)		($13,566	)

A one percentage point change in the assumed health care cost trend rate for 2014 would have the following effects for the Registrant Subsidiaries for their employees:

	1 Percentage Point Increase				1 Percentage Point Decrease
2014	Impact on the APBO		Impact on the sum of service costs and interest cost		Impact on the APBO			Impact on the sum of service costs and interest cost
	Increase/(Decrease) (In Thousands)
Entergy Arkansas		$39,286		$2,448		($31,753	)		($1,971	)
Entergy Gulf States Louisiana		$27,929		$2,092		($22,591	)		($1,671	)
Entergy Louisiana		$23,779		$1,681		($19,452	)		($1,366	)
Entergy Mississippi		$10,596		$754		($8,596	)		($606	)
Entergy New Orleans		$6,373		$386		($5,317	)		($321	)
Entergy Texas		$16,246		$1,148		($13,397	)		($927	)
System Energy		$8,716		$734		($7,044	)		($586	)

Defined Contribution Plans

Entergy sponsors the Savings Plan of Entergy Corporation and Subsidiaries (System Savings Plan).  The System Savings Plan is a defined contribution plan covering eligible employees of Entergy and certain of its subsidiaries. The participating employing Entergy subsidiary makes matching contributions to the System Savings Plan for all eligible participating employees in an amount equal to either 70% or 100% of the participants’ basic contributions, up to 6% of their eligible earnings per pay period.  The matching contribution is allocated to investments as directed by the employee.

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 $43.3 million in 2014, $44.5 million in 2013, and $43.7 million in 2012.  The majority of the contributions were to the System Savings Plan.

The Registrant Subsidiaries’ 2014, 2013, and 2012 contributions to defined contribution plans for their employees were as follows:

Year	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas
	(In Thousands)
2014		$3,044		$1,867		$2,266		$1,855		$710		$1,563
2013		$3,351		$1,906		$2,393		$1,954		$769		$1,616
2012		$3,223		$1,842		$2,327		$1,875		$740		$1,601