RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Components of Qualified Net Pension Cost

Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$23,358	$25,302
Interest cost on projected benefit obligation	56,631	73,850
Expected return on assets	(76,557)	(96,775)

Recognized net loss	14,322	20,204
Settlement charges	—	6,914
Net pension cost	$17,754	$29,495

Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$70,104	$76,346
Interest cost on projected benefit obligation	193,218	223,584
Expected return on assets	(262,043)	(290,660)

Recognized net loss	44,296	63,858
Settlement charges	325,253	152,588
Net pension cost	$370,828	$225,716

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,101	$5,550	$1,284	$441	$963	$1,380
Interest cost on projected benefit obligation	13,218	13,962	3,522	1,569	2,832	3,375
Expected return on assets	(18,156)	(19,446)	(5,112)	(2,202)	(4,077)	(4,602)

Recognized net loss	5,745	2,601	1,140	471	393	1,155

Net pension cost	$4,908	$2,667	$834	$279	$111	$1,308



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,566	$6,175	$1,431	$492	$1,074	$1,430
Interest cost on projected benefit obligation	13,813	14,896	3,797	1,667	3,138	3,419
Expected return on assets	(17,639)	(18,892)	(4,830)	(2,206)	(4,147)	(4,392)

Recognized net loss	5,438	4,748	1,545	456	1,008	1,204
Settlement charges	558	561	345	248	632	228
Net pension cost	$6,736	$7,488	$2,288	$657	$1,705	$1,889

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$12,300	$16,652	$3,852	$1,321	$2,886	$4,147
Interest cost on projected benefit obligation	39,652	41,884	10,564	4,707	8,494	10,152
Expected return on assets	(54,466)	(58,340)	(15,338)	(6,609)	(12,231)	(13,883)

Recognized net loss	17,237	7,805	3,420	1,411	1,179	3,482
Settlement charges	—	—	—	—	—	611
Net pension cost	$14,723	$8,001	$2,498	$830	$328	$4,509


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$13,976	$18,654	$4,369	$1,470	$3,271	$4,342
Interest cost on projected benefit obligation	42,010	45,219	11,551	5,051	9,542	10,382
Expected return on assets	(53,593)	(56,891)	(14,349)	(6,783)	(12,322)	(13,431)


Recognized net loss	18,170	14,704	4,937	1,453	3,057	3,939
Settlement charges	24,516	38,791	12,088	1,948	10,902	5,518
Net pension cost	$45,079	$60,477	$18,596	$3,139	$14,450	$10,750

Non-Qualified Net Pension Cost

Entergy recognized $2.7 million and $21.8 million in pension cost for its non-qualified pension plans for the third quarters of 2024 and 2023, respectively. For the third quarter of 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the third quarter of 2023 were settlement charges of $18 million related to the payment of lump sum benefits out of the plans. Entergy recognized $8.2 million and $39.8 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 were settlement charges of $27.3 million related to the payment of lump sum benefits out of the plans.

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$68	$51	$83	$31	$62
2023	$63	$24	$85	$33	$63

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$204	$153	$249	$93	$186
2023	$575	$76	$724	$99	$190

For the third quarters of 2024 and 2023, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2024, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2023, there were settlement charges of $379 thousand and $453 thousand for Entergy Arkansas and Entergy Mississippi, respectively, included in the non-qualified pension costs above related to the payment of lump sum benefits out of the plan.

Components of Net Other Postretirement Benefits Cost (Income)

Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$3,126	$3,664
Interest cost on accumulated postretirement benefit obligation (APBO)	9,852	10,568
Expected return on assets	(10,569)	(9,183)

Amortization of prior service credit	(5,720)	(5,640)
Recognized net gain	(2,761)	(2,862)
Net other postretirement benefits income	($6,072)	($3,453)

Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$9,378	$10,992
Interest cost on APBO	29,556	31,704
Expected return on assets	(31,707)	(27,549)

Amortization of prior service credit	(17,160)	(16,920)
Recognized net gain	(8,283)	(8,586)
Net other postretirement benefits income	($18,216)	($10,359)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$642	$700	$184	$51	$168	$175
Interest cost on APBO	1,833	1,999	486	253	603	398
Expected return on assets	(4,384)	—	(1,372)	(1,479)	(2,539)	(728)

Amortization of prior service cost (credit)	524	(1,136)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	—	(1,738)	15	19	148	—
Net other postretirement benefits income	($1,385)	($175)	($926)	($1,385)	($2,713)	($228)



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$741	$845	$220	$59	$202	$189
Interest cost on APBO	2,001	2,233	543	290	649	432
Expected return on assets	(3,778)	—	(1,179)	(1,316)	(2,194)	(634)


Amortization of prior service cost (credit)	524	(951)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	43	(1,764)	21	117	229	—
Net other postretirement benefits (income) cost	($469)	$363	($634)	($1,079)	($2,207)	($86)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$1,926	$2,100	$552	$153	$504	$525
Interest cost on APBO	5,499	5,997	1,458	759	1,809	1,194
Expected return on assets	(13,152)	—	(4,116)	(4,437)	(7,617)	(2,184)
Amortization of prior service cost (credit)	1,572	(3,408)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	—	(5,214)	45	57	444	—
Net other postretirement benefits income	($4,155)	($525)	($2,778)	($4,155)	($8,139)	($684)


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$2,223	$2,535	$660	$177	$606	$567
Interest cost on APBO	6,003	6,699	1,629	870	1,947	1,296
Expected return on assets	(11,334)	—	(3,537)	(3,948)	(6,582)	(1,902)


Amortization of prior service cost (credit)	1,572	(2,853)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	129	(5,292)	63	351	687	—
Net other postretirement benefits (income) cost	($1,407)	$1,089	($1,902)	($3,237)	($6,621)	($258)

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2024 and 2023:



2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,513	($40)	$3,473
Amortization of net gain (loss)	(405)	2,615	(80)	2,130


	($405)	$6,128	($120)	$5,603
Entergy Louisiana
Amortization of prior service credit	$—	$1,136	$—	$1,136
Amortization of net gain (loss)	(104)	1,738	—	1,634

	($104)	$2,874	$—	$2,770



2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,509	($113)	$3,396
Amortization of net gain (loss)	(1,064)	2,898	(134)	1,700

Settlement loss	(490)	—	(1,429)	(1,919)
	($1,554)	$6,407	($1,676)	$3,177
Entergy Louisiana
Amortization of prior service credit	$—	$951	$—	$951
Amortization of net gain (loss)	(190)	1,764	—	1,574
Settlement loss	(22)	—	—	(22)
	($212)	$2,715	$—	$2,503

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2024 and 2023:


2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,539	($120)	$10,419
Amortization of net gain (loss)	(2,438)	7,845	(240)	5,167

Settlement loss	(316,974)	—	—	(316,974)
	($319,412)	$18,384	($360)	($301,388)
Entergy Louisiana
Amortization of prior service credit	$—	$3,408	$—	$3,408
Amortization of net gain (loss)	(312)	5,214	(2)	4,900

	($312)	$8,622	($2)	$8,308


2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,529	($338)	$10,191
Amortization of net gain (loss)	(3,208)	8,693	(491)	4,994

Settlement loss	(7,446)	—	(2,962)	(10,408)
	($10,654)	$19,222	($3,791)	$4,777
Entergy Louisiana
Amortization of prior service credit	$—	$2,853	$—	$2,853
Amortization of net gain (loss)	(588)	5,292	(1)	4,703
Settlement loss	(1,551)	—	—	(1,551)
	($2,139)	$8,145	($1)	$6,005

Accounting for Pension and Other Postretirement Benefits

In accordance with accounting standards, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income.

Qualified Pension Settlement Costs

In May 2024, Entergy Corporation entered into a commitment agreement by and between Entergy Corporation, Newport Trust Company, LLC, as independent fiduciary of Entergy Corporation Retirement Plan II for Non-Bargaining Employees, Entergy Corporation Retirement Plan II for Bargaining Employees, Entergy Corporation Retirement Plan III, and Entergy Corporation Retirement Plan IV for Bargaining Employees (the Pension Plans), and the Metropolitan Life Insurance Company (MetLife), under which the Pension Plans purchased a nonparticipating single premium group annuity contract from MetLife to settle approximately $1.157 billion of benefit liabilities of the Pension Plans.

The group annuity contract primarily covers a population that includes approximately 3,400 non-utility business retirees, joint annuitants, beneficiaries, and alternate payees who commenced benefit payments from the Pension Plans on or before March 1, 2024 (Transferred Participants). MetLife irrevocably guarantees and assumes the sole obligation to make future monthly pension benefit payments to the Transferred Participants as provided under its group annuity contract, with direct payments that began September 1, 2024. The aggregate amount of each Transferred Participant’s payment under the group annuity contract will be equal to the amount of each individual’s payment under the Pension Plans.

The purchase of the group annuity contract was funded directly by assets of the Pension Plans. The transferred pension liability required no additional funding prior to transfer, as the liability was fully funded. As a result of the transaction, Entergy recognized a one-time non-cash pension settlement charge in the second quarter of 2024 of $325 million, of which $8 million was recorded at Utility, as described below, and $317 million was recorded at Parent & Other. The $317 million settlement charge at Parent & Other is reflected in Miscellaneous - net in Other income (deductions) on the consolidated income statements.

For the nine months ended September 30, 2023, lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs.

In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred.

In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded are evaluated in each rate case filed by Entergy Texas and an amortization period is determined at that time.

See Note 11 to the financial statements in the Form 10-K for further discussion of pension and other postretirement benefits costs.

Employer Contributions

Based on current assumptions, Entergy expects to contribute $270 million to its qualified pension plans in 2024. As of September 30, 2024, Entergy had contributed $164.3 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their current and former employees in 2024:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Expected 2024 pension contributions	$55,112	$48,401	$14,980	$4,931	$8,272	$16,650
Pension contributions made through September 2024	$33,560	$29,375	$9,820	$2,643	$4,782	$9,994
Remaining estimated pension contributions to be made in 2024	$21,552	$19,026	$5,160	$2,288	$3,490	$6,656

Retirement Benefits [Text Block]

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Components of Qualified Net Pension Cost

Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$23,358	$25,302
Interest cost on projected benefit obligation	56,631	73,850
Expected return on assets	(76,557)	(96,775)

Recognized net loss	14,322	20,204
Settlement charges	—	6,914
Net pension cost	$17,754	$29,495

Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$70,104	$76,346
Interest cost on projected benefit obligation	193,218	223,584
Expected return on assets	(262,043)	(290,660)

Recognized net loss	44,296	63,858
Settlement charges	325,253	152,588
Net pension cost	$370,828	$225,716

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,101	$5,550	$1,284	$441	$963	$1,380
Interest cost on projected benefit obligation	13,218	13,962	3,522	1,569	2,832	3,375
Expected return on assets	(18,156)	(19,446)	(5,112)	(2,202)	(4,077)	(4,602)

Recognized net loss	5,745	2,601	1,140	471	393	1,155

Net pension cost	$4,908	$2,667	$834	$279	$111	$1,308



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,566	$6,175	$1,431	$492	$1,074	$1,430
Interest cost on projected benefit obligation	13,813	14,896	3,797	1,667	3,138	3,419
Expected return on assets	(17,639)	(18,892)	(4,830)	(2,206)	(4,147)	(4,392)

Recognized net loss	5,438	4,748	1,545	456	1,008	1,204
Settlement charges	558	561	345	248	632	228
Net pension cost	$6,736	$7,488	$2,288	$657	$1,705	$1,889

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$12,300	$16,652	$3,852	$1,321	$2,886	$4,147
Interest cost on projected benefit obligation	39,652	41,884	10,564	4,707	8,494	10,152
Expected return on assets	(54,466)	(58,340)	(15,338)	(6,609)	(12,231)	(13,883)

Recognized net loss	17,237	7,805	3,420	1,411	1,179	3,482
Settlement charges	—	—	—	—	—	611
Net pension cost	$14,723	$8,001	$2,498	$830	$328	$4,509


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$13,976	$18,654	$4,369	$1,470	$3,271	$4,342
Interest cost on projected benefit obligation	42,010	45,219	11,551	5,051	9,542	10,382
Expected return on assets	(53,593)	(56,891)	(14,349)	(6,783)	(12,322)	(13,431)


Recognized net loss	18,170	14,704	4,937	1,453	3,057	3,939
Settlement charges	24,516	38,791	12,088	1,948	10,902	5,518
Net pension cost	$45,079	$60,477	$18,596	$3,139	$14,450	$10,750

Non-Qualified Net Pension Cost

Entergy recognized $2.7 million and $21.8 million in pension cost for its non-qualified pension plans for the third quarters of 2024 and 2023, respectively. For the third quarter of 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the third quarter of 2023 were settlement charges of $18 million related to the payment of lump sum benefits out of the plans. Entergy recognized $8.2 million and $39.8 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 were settlement charges of $27.3 million related to the payment of lump sum benefits out of the plans.

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$68	$51	$83	$31	$62
2023	$63	$24	$85	$33	$63

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$204	$153	$249	$93	$186
2023	$575	$76	$724	$99	$190

For the third quarters of 2024 and 2023, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2024, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2023, there were settlement charges of $379 thousand and $453 thousand for Entergy Arkansas and Entergy Mississippi, respectively, included in the non-qualified pension costs above related to the payment of lump sum benefits out of the plan.

Components of Net Other Postretirement Benefits Cost (Income)

Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$3,126	$3,664
Interest cost on accumulated postretirement benefit obligation (APBO)	9,852	10,568
Expected return on assets	(10,569)	(9,183)

Amortization of prior service credit	(5,720)	(5,640)
Recognized net gain	(2,761)	(2,862)
Net other postretirement benefits income	($6,072)	($3,453)

Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$9,378	$10,992
Interest cost on APBO	29,556	31,704
Expected return on assets	(31,707)	(27,549)

Amortization of prior service credit	(17,160)	(16,920)
Recognized net gain	(8,283)	(8,586)
Net other postretirement benefits income	($18,216)	($10,359)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$642	$700	$184	$51	$168	$175
Interest cost on APBO	1,833	1,999	486	253	603	398
Expected return on assets	(4,384)	—	(1,372)	(1,479)	(2,539)	(728)

Amortization of prior service cost (credit)	524	(1,136)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	—	(1,738)	15	19	148	—
Net other postretirement benefits income	($1,385)	($175)	($926)	($1,385)	($2,713)	($228)



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$741	$845	$220	$59	$202	$189
Interest cost on APBO	2,001	2,233	543	290	649	432
Expected return on assets	(3,778)	—	(1,179)	(1,316)	(2,194)	(634)


Amortization of prior service cost (credit)	524	(951)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	43	(1,764)	21	117	229	—
Net other postretirement benefits (income) cost	($469)	$363	($634)	($1,079)	($2,207)	($86)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$1,926	$2,100	$552	$153	$504	$525
Interest cost on APBO	5,499	5,997	1,458	759	1,809	1,194
Expected return on assets	(13,152)	—	(4,116)	(4,437)	(7,617)	(2,184)
Amortization of prior service cost (credit)	1,572	(3,408)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	—	(5,214)	45	57	444	—
Net other postretirement benefits income	($4,155)	($525)	($2,778)	($4,155)	($8,139)	($684)


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$2,223	$2,535	$660	$177	$606	$567
Interest cost on APBO	6,003	6,699	1,629	870	1,947	1,296
Expected return on assets	(11,334)	—	(3,537)	(3,948)	(6,582)	(1,902)


Amortization of prior service cost (credit)	1,572	(2,853)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	129	(5,292)	63	351	687	—
Net other postretirement benefits (income) cost	($1,407)	$1,089	($1,902)	($3,237)	($6,621)	($258)

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2024 and 2023:



2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,513	($40)	$3,473
Amortization of net gain (loss)	(405)	2,615	(80)	2,130


	($405)	$6,128	($120)	$5,603
Entergy Louisiana
Amortization of prior service credit	$—	$1,136	$—	$1,136
Amortization of net gain (loss)	(104)	1,738	—	1,634

	($104)	$2,874	$—	$2,770



2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,509	($113)	$3,396
Amortization of net gain (loss)	(1,064)	2,898	(134)	1,700

Settlement loss	(490)	—	(1,429)	(1,919)
	($1,554)	$6,407	($1,676)	$3,177
Entergy Louisiana
Amortization of prior service credit	$—	$951	$—	$951
Amortization of net gain (loss)	(190)	1,764	—	1,574
Settlement loss	(22)	—	—	(22)
	($212)	$2,715	$—	$2,503

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2024 and 2023:


2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,539	($120)	$10,419
Amortization of net gain (loss)	(2,438)	7,845	(240)	5,167

Settlement loss	(316,974)	—	—	(316,974)
	($319,412)	$18,384	($360)	($301,388)
Entergy Louisiana
Amortization of prior service credit	$—	$3,408	$—	$3,408
Amortization of net gain (loss)	(312)	5,214	(2)	4,900

	($312)	$8,622	($2)	$8,308


2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,529	($338)	$10,191
Amortization of net gain (loss)	(3,208)	8,693	(491)	4,994

Settlement loss	(7,446)	—	(2,962)	(10,408)
	($10,654)	$19,222	($3,791)	$4,777
Entergy Louisiana
Amortization of prior service credit	$—	$2,853	$—	$2,853
Amortization of net gain (loss)	(588)	5,292	(1)	4,703
Settlement loss	(1,551)	—	—	(1,551)
	($2,139)	$8,145	($1)	$6,005

Accounting for Pension and Other Postretirement Benefits

In accordance with accounting standards, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income.

Qualified Pension Settlement Costs

In May 2024, Entergy Corporation entered into a commitment agreement by and between Entergy Corporation, Newport Trust Company, LLC, as independent fiduciary of Entergy Corporation Retirement Plan II for Non-Bargaining Employees, Entergy Corporation Retirement Plan II for Bargaining Employees, Entergy Corporation Retirement Plan III, and Entergy Corporation Retirement Plan IV for Bargaining Employees (the Pension Plans), and the Metropolitan Life Insurance Company (MetLife), under which the Pension Plans purchased a nonparticipating single premium group annuity contract from MetLife to settle approximately $1.157 billion of benefit liabilities of the Pension Plans.

The group annuity contract primarily covers a population that includes approximately 3,400 non-utility business retirees, joint annuitants, beneficiaries, and alternate payees who commenced benefit payments from the Pension Plans on or before March 1, 2024 (Transferred Participants). MetLife irrevocably guarantees and assumes the sole obligation to make future monthly pension benefit payments to the Transferred Participants as provided under its group annuity contract, with direct payments that began September 1, 2024. The aggregate amount of each Transferred Participant’s payment under the group annuity contract will be equal to the amount of each individual’s payment under the Pension Plans.

The purchase of the group annuity contract was funded directly by assets of the Pension Plans. The transferred pension liability required no additional funding prior to transfer, as the liability was fully funded. As a result of the transaction, Entergy recognized a one-time non-cash pension settlement charge in the second quarter of 2024 of $325 million, of which $8 million was recorded at Utility, as described below, and $317 million was recorded at Parent & Other. The $317 million settlement charge at Parent & Other is reflected in Miscellaneous - net in Other income (deductions) on the consolidated income statements.

For the nine months ended September 30, 2023, lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs.

In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred.

In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded are evaluated in each rate case filed by Entergy Texas and an amortization period is determined at that time.

See Note 11 to the financial statements in the Form 10-K for further discussion of pension and other postretirement benefits costs.

Employer Contributions

Based on current assumptions, Entergy expects to contribute $270 million to its qualified pension plans in 2024. As of September 30, 2024, Entergy had contributed $164.3 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their current and former employees in 2024:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Expected 2024 pension contributions	$55,112	$48,401	$14,980	$4,931	$8,272	$16,650
Pension contributions made through September 2024	$33,560	$29,375	$9,820	$2,643	$4,782	$9,994
Remaining estimated pension contributions to be made in 2024	$21,552	$19,026	$5,160	$2,288	$3,490	$6,656

Retirement Benefits [Text Block]

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Components of Qualified Net Pension Cost

Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$23,358	$25,302
Interest cost on projected benefit obligation	56,631	73,850
Expected return on assets	(76,557)	(96,775)

Recognized net loss	14,322	20,204
Settlement charges	—	6,914
Net pension cost	$17,754	$29,495

Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$70,104	$76,346
Interest cost on projected benefit obligation	193,218	223,584
Expected return on assets	(262,043)	(290,660)

Recognized net loss	44,296	63,858
Settlement charges	325,253	152,588
Net pension cost	$370,828	$225,716

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,101	$5,550	$1,284	$441	$963	$1,380
Interest cost on projected benefit obligation	13,218	13,962	3,522	1,569	2,832	3,375
Expected return on assets	(18,156)	(19,446)	(5,112)	(2,202)	(4,077)	(4,602)

Recognized net loss	5,745	2,601	1,140	471	393	1,155

Net pension cost	$4,908	$2,667	$834	$279	$111	$1,308



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,566	$6,175	$1,431	$492	$1,074	$1,430
Interest cost on projected benefit obligation	13,813	14,896	3,797	1,667	3,138	3,419
Expected return on assets	(17,639)	(18,892)	(4,830)	(2,206)	(4,147)	(4,392)

Recognized net loss	5,438	4,748	1,545	456	1,008	1,204
Settlement charges	558	561	345	248	632	228
Net pension cost	$6,736	$7,488	$2,288	$657	$1,705	$1,889

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$12,300	$16,652	$3,852	$1,321	$2,886	$4,147
Interest cost on projected benefit obligation	39,652	41,884	10,564	4,707	8,494	10,152
Expected return on assets	(54,466)	(58,340)	(15,338)	(6,609)	(12,231)	(13,883)

Recognized net loss	17,237	7,805	3,420	1,411	1,179	3,482
Settlement charges	—	—	—	—	—	611
Net pension cost	$14,723	$8,001	$2,498	$830	$328	$4,509


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$13,976	$18,654	$4,369	$1,470	$3,271	$4,342
Interest cost on projected benefit obligation	42,010	45,219	11,551	5,051	9,542	10,382
Expected return on assets	(53,593)	(56,891)	(14,349)	(6,783)	(12,322)	(13,431)


Recognized net loss	18,170	14,704	4,937	1,453	3,057	3,939
Settlement charges	24,516	38,791	12,088	1,948	10,902	5,518
Net pension cost	$45,079	$60,477	$18,596	$3,139	$14,450	$10,750

Non-Qualified Net Pension Cost

Entergy recognized $2.7 million and $21.8 million in pension cost for its non-qualified pension plans for the third quarters of 2024 and 2023, respectively. For the third quarter of 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the third quarter of 2023 were settlement charges of $18 million related to the payment of lump sum benefits out of the plans. Entergy recognized $8.2 million and $39.8 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 were settlement charges of $27.3 million related to the payment of lump sum benefits out of the plans.

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$68	$51	$83	$31	$62
2023	$63	$24	$85	$33	$63

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$204	$153	$249	$93	$186
2023	$575	$76	$724	$99	$190

For the third quarters of 2024 and 2023, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2024, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2023, there were settlement charges of $379 thousand and $453 thousand for Entergy Arkansas and Entergy Mississippi, respectively, included in the non-qualified pension costs above related to the payment of lump sum benefits out of the plan.

Components of Net Other Postretirement Benefits Cost (Income)

Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$3,126	$3,664
Interest cost on accumulated postretirement benefit obligation (APBO)	9,852	10,568
Expected return on assets	(10,569)	(9,183)

Amortization of prior service credit	(5,720)	(5,640)
Recognized net gain	(2,761)	(2,862)
Net other postretirement benefits income	($6,072)	($3,453)

Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$9,378	$10,992
Interest cost on APBO	29,556	31,704
Expected return on assets	(31,707)	(27,549)

Amortization of prior service credit	(17,160)	(16,920)
Recognized net gain	(8,283)	(8,586)
Net other postretirement benefits income	($18,216)	($10,359)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$642	$700	$184	$51	$168	$175
Interest cost on APBO	1,833	1,999	486	253	603	398
Expected return on assets	(4,384)	—	(1,372)	(1,479)	(2,539)	(728)

Amortization of prior service cost (credit)	524	(1,136)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	—	(1,738)	15	19	148	—
Net other postretirement benefits income	($1,385)	($175)	($926)	($1,385)	($2,713)	($228)



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$741	$845	$220	$59	$202	$189
Interest cost on APBO	2,001	2,233	543	290	649	432
Expected return on assets	(3,778)	—	(1,179)	(1,316)	(2,194)	(634)


Amortization of prior service cost (credit)	524	(951)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	43	(1,764)	21	117	229	—
Net other postretirement benefits (income) cost	($469)	$363	($634)	($1,079)	($2,207)	($86)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$1,926	$2,100	$552	$153	$504	$525
Interest cost on APBO	5,499	5,997	1,458	759	1,809	1,194
Expected return on assets	(13,152)	—	(4,116)	(4,437)	(7,617)	(2,184)
Amortization of prior service cost (credit)	1,572	(3,408)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	—	(5,214)	45	57	444	—
Net other postretirement benefits income	($4,155)	($525)	($2,778)	($4,155)	($8,139)	($684)


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$2,223	$2,535	$660	$177	$606	$567
Interest cost on APBO	6,003	6,699	1,629	870	1,947	1,296
Expected return on assets	(11,334)	—	(3,537)	(3,948)	(6,582)	(1,902)


Amortization of prior service cost (credit)	1,572	(2,853)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	129	(5,292)	63	351	687	—
Net other postretirement benefits (income) cost	($1,407)	$1,089	($1,902)	($3,237)	($6,621)	($258)

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2024 and 2023:



2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,513	($40)	$3,473
Amortization of net gain (loss)	(405)	2,615	(80)	2,130


	($405)	$6,128	($120)	$5,603
Entergy Louisiana
Amortization of prior service credit	$—	$1,136	$—	$1,136
Amortization of net gain (loss)	(104)	1,738	—	1,634

	($104)	$2,874	$—	$2,770



2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,509	($113)	$3,396
Amortization of net gain (loss)	(1,064)	2,898	(134)	1,700

Settlement loss	(490)	—	(1,429)	(1,919)
	($1,554)	$6,407	($1,676)	$3,177
Entergy Louisiana
Amortization of prior service credit	$—	$951	$—	$951
Amortization of net gain (loss)	(190)	1,764	—	1,574
Settlement loss	(22)	—	—	(22)
	($212)	$2,715	$—	$2,503

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2024 and 2023:


2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,539	($120)	$10,419
Amortization of net gain (loss)	(2,438)	7,845	(240)	5,167

Settlement loss	(316,974)	—	—	(316,974)
	($319,412)	$18,384	($360)	($301,388)
Entergy Louisiana
Amortization of prior service credit	$—	$3,408	$—	$3,408
Amortization of net gain (loss)	(312)	5,214	(2)	4,900

	($312)	$8,622	($2)	$8,308


2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,529	($338)	$10,191
Amortization of net gain (loss)	(3,208)	8,693	(491)	4,994

Settlement loss	(7,446)	—	(2,962)	(10,408)
	($10,654)	$19,222	($3,791)	$4,777
Entergy Louisiana
Amortization of prior service credit	$—	$2,853	$—	$2,853
Amortization of net gain (loss)	(588)	5,292	(1)	4,703
Settlement loss	(1,551)	—	—	(1,551)
	($2,139)	$8,145	($1)	$6,005

Accounting for Pension and Other Postretirement Benefits

In accordance with accounting standards, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income.

Qualified Pension Settlement Costs

In May 2024, Entergy Corporation entered into a commitment agreement by and between Entergy Corporation, Newport Trust Company, LLC, as independent fiduciary of Entergy Corporation Retirement Plan II for Non-Bargaining Employees, Entergy Corporation Retirement Plan II for Bargaining Employees, Entergy Corporation Retirement Plan III, and Entergy Corporation Retirement Plan IV for Bargaining Employees (the Pension Plans), and the Metropolitan Life Insurance Company (MetLife), under which the Pension Plans purchased a nonparticipating single premium group annuity contract from MetLife to settle approximately $1.157 billion of benefit liabilities of the Pension Plans.

The group annuity contract primarily covers a population that includes approximately 3,400 non-utility business retirees, joint annuitants, beneficiaries, and alternate payees who commenced benefit payments from the Pension Plans on or before March 1, 2024 (Transferred Participants). MetLife irrevocably guarantees and assumes the sole obligation to make future monthly pension benefit payments to the Transferred Participants as provided under its group annuity contract, with direct payments that began September 1, 2024. The aggregate amount of each Transferred Participant’s payment under the group annuity contract will be equal to the amount of each individual’s payment under the Pension Plans.

The purchase of the group annuity contract was funded directly by assets of the Pension Plans. The transferred pension liability required no additional funding prior to transfer, as the liability was fully funded. As a result of the transaction, Entergy recognized a one-time non-cash pension settlement charge in the second quarter of 2024 of $325 million, of which $8 million was recorded at Utility, as described below, and $317 million was recorded at Parent & Other. The $317 million settlement charge at Parent & Other is reflected in Miscellaneous - net in Other income (deductions) on the consolidated income statements.

For the nine months ended September 30, 2023, lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs.

In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred.

In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded are evaluated in each rate case filed by Entergy Texas and an amortization period is determined at that time.

See Note 11 to the financial statements in the Form 10-K for further discussion of pension and other postretirement benefits costs.

Employer Contributions

Based on current assumptions, Entergy expects to contribute $270 million to its qualified pension plans in 2024. As of September 30, 2024, Entergy had contributed $164.3 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their current and former employees in 2024:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Expected 2024 pension contributions	$55,112	$48,401	$14,980	$4,931	$8,272	$16,650
Pension contributions made through September 2024	$33,560	$29,375	$9,820	$2,643	$4,782	$9,994
Remaining estimated pension contributions to be made in 2024	$21,552	$19,026	$5,160	$2,288	$3,490	$6,656

Retirement Benefits [Text Block]

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Components of Qualified Net Pension Cost

Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$23,358	$25,302
Interest cost on projected benefit obligation	56,631	73,850
Expected return on assets	(76,557)	(96,775)

Recognized net loss	14,322	20,204
Settlement charges	—	6,914
Net pension cost	$17,754	$29,495

Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$70,104	$76,346
Interest cost on projected benefit obligation	193,218	223,584
Expected return on assets	(262,043)	(290,660)

Recognized net loss	44,296	63,858
Settlement charges	325,253	152,588
Net pension cost	$370,828	$225,716

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,101	$5,550	$1,284	$441	$963	$1,380
Interest cost on projected benefit obligation	13,218	13,962	3,522	1,569	2,832	3,375
Expected return on assets	(18,156)	(19,446)	(5,112)	(2,202)	(4,077)	(4,602)

Recognized net loss	5,745	2,601	1,140	471	393	1,155

Net pension cost	$4,908	$2,667	$834	$279	$111	$1,308



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,566	$6,175	$1,431	$492	$1,074	$1,430
Interest cost on projected benefit obligation	13,813	14,896	3,797	1,667	3,138	3,419
Expected return on assets	(17,639)	(18,892)	(4,830)	(2,206)	(4,147)	(4,392)

Recognized net loss	5,438	4,748	1,545	456	1,008	1,204
Settlement charges	558	561	345	248	632	228
Net pension cost	$6,736	$7,488	$2,288	$657	$1,705	$1,889

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$12,300	$16,652	$3,852	$1,321	$2,886	$4,147
Interest cost on projected benefit obligation	39,652	41,884	10,564	4,707	8,494	10,152
Expected return on assets	(54,466)	(58,340)	(15,338)	(6,609)	(12,231)	(13,883)

Recognized net loss	17,237	7,805	3,420	1,411	1,179	3,482
Settlement charges	—	—	—	—	—	611
Net pension cost	$14,723	$8,001	$2,498	$830	$328	$4,509


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$13,976	$18,654	$4,369	$1,470	$3,271	$4,342
Interest cost on projected benefit obligation	42,010	45,219	11,551	5,051	9,542	10,382
Expected return on assets	(53,593)	(56,891)	(14,349)	(6,783)	(12,322)	(13,431)


Recognized net loss	18,170	14,704	4,937	1,453	3,057	3,939
Settlement charges	24,516	38,791	12,088	1,948	10,902	5,518
Net pension cost	$45,079	$60,477	$18,596	$3,139	$14,450	$10,750

Non-Qualified Net Pension Cost

Entergy recognized $2.7 million and $21.8 million in pension cost for its non-qualified pension plans for the third quarters of 2024 and 2023, respectively. For the third quarter of 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the third quarter of 2023 were settlement charges of $18 million related to the payment of lump sum benefits out of the plans. Entergy recognized $8.2 million and $39.8 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 were settlement charges of $27.3 million related to the payment of lump sum benefits out of the plans.

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$68	$51	$83	$31	$62
2023	$63	$24	$85	$33	$63

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$204	$153	$249	$93	$186
2023	$575	$76	$724	$99	$190

For the third quarters of 2024 and 2023, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2024, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2023, there were settlement charges of $379 thousand and $453 thousand for Entergy Arkansas and Entergy Mississippi, respectively, included in the non-qualified pension costs above related to the payment of lump sum benefits out of the plan.

Components of Net Other Postretirement Benefits Cost (Income)

Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$3,126	$3,664
Interest cost on accumulated postretirement benefit obligation (APBO)	9,852	10,568
Expected return on assets	(10,569)	(9,183)

Amortization of prior service credit	(5,720)	(5,640)
Recognized net gain	(2,761)	(2,862)
Net other postretirement benefits income	($6,072)	($3,453)

Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$9,378	$10,992
Interest cost on APBO	29,556	31,704
Expected return on assets	(31,707)	(27,549)

Amortization of prior service credit	(17,160)	(16,920)
Recognized net gain	(8,283)	(8,586)
Net other postretirement benefits income	($18,216)	($10,359)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$642	$700	$184	$51	$168	$175
Interest cost on APBO	1,833	1,999	486	253	603	398
Expected return on assets	(4,384)	—	(1,372)	(1,479)	(2,539)	(728)

Amortization of prior service cost (credit)	524	(1,136)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	—	(1,738)	15	19	148	—
Net other postretirement benefits income	($1,385)	($175)	($926)	($1,385)	($2,713)	($228)



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$741	$845	$220	$59	$202	$189
Interest cost on APBO	2,001	2,233	543	290	649	432
Expected return on assets	(3,778)	—	(1,179)	(1,316)	(2,194)	(634)


Amortization of prior service cost (credit)	524	(951)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	43	(1,764)	21	117	229	—
Net other postretirement benefits (income) cost	($469)	$363	($634)	($1,079)	($2,207)	($86)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$1,926	$2,100	$552	$153	$504	$525
Interest cost on APBO	5,499	5,997	1,458	759	1,809	1,194
Expected return on assets	(13,152)	—	(4,116)	(4,437)	(7,617)	(2,184)
Amortization of prior service cost (credit)	1,572	(3,408)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	—	(5,214)	45	57	444	—
Net other postretirement benefits income	($4,155)	($525)	($2,778)	($4,155)	($8,139)	($684)


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$2,223	$2,535	$660	$177	$606	$567
Interest cost on APBO	6,003	6,699	1,629	870	1,947	1,296
Expected return on assets	(11,334)	—	(3,537)	(3,948)	(6,582)	(1,902)


Amortization of prior service cost (credit)	1,572	(2,853)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	129	(5,292)	63	351	687	—
Net other postretirement benefits (income) cost	($1,407)	$1,089	($1,902)	($3,237)	($6,621)	($258)

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2024 and 2023:



2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,513	($40)	$3,473
Amortization of net gain (loss)	(405)	2,615	(80)	2,130


	($405)	$6,128	($120)	$5,603
Entergy Louisiana
Amortization of prior service credit	$—	$1,136	$—	$1,136
Amortization of net gain (loss)	(104)	1,738	—	1,634

	($104)	$2,874	$—	$2,770



2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,509	($113)	$3,396
Amortization of net gain (loss)	(1,064)	2,898	(134)	1,700

Settlement loss	(490)	—	(1,429)	(1,919)
	($1,554)	$6,407	($1,676)	$3,177
Entergy Louisiana
Amortization of prior service credit	$—	$951	$—	$951
Amortization of net gain (loss)	(190)	1,764	—	1,574
Settlement loss	(22)	—	—	(22)
	($212)	$2,715	$—	$2,503

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2024 and 2023:


2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,539	($120)	$10,419
Amortization of net gain (loss)	(2,438)	7,845	(240)	5,167

Settlement loss	(316,974)	—	—	(316,974)
	($319,412)	$18,384	($360)	($301,388)
Entergy Louisiana
Amortization of prior service credit	$—	$3,408	$—	$3,408
Amortization of net gain (loss)	(312)	5,214	(2)	4,900

	($312)	$8,622	($2)	$8,308


2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,529	($338)	$10,191
Amortization of net gain (loss)	(3,208)	8,693	(491)	4,994

Settlement loss	(7,446)	—	(2,962)	(10,408)
	($10,654)	$19,222	($3,791)	$4,777
Entergy Louisiana
Amortization of prior service credit	$—	$2,853	$—	$2,853
Amortization of net gain (loss)	(588)	5,292	(1)	4,703
Settlement loss	(1,551)	—	—	(1,551)
	($2,139)	$8,145	($1)	$6,005

Accounting for Pension and Other Postretirement Benefits

In accordance with accounting standards, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income.

Qualified Pension Settlement Costs

In May 2024, Entergy Corporation entered into a commitment agreement by and between Entergy Corporation, Newport Trust Company, LLC, as independent fiduciary of Entergy Corporation Retirement Plan II for Non-Bargaining Employees, Entergy Corporation Retirement Plan II for Bargaining Employees, Entergy Corporation Retirement Plan III, and Entergy Corporation Retirement Plan IV for Bargaining Employees (the Pension Plans), and the Metropolitan Life Insurance Company (MetLife), under which the Pension Plans purchased a nonparticipating single premium group annuity contract from MetLife to settle approximately $1.157 billion of benefit liabilities of the Pension Plans.

The group annuity contract primarily covers a population that includes approximately 3,400 non-utility business retirees, joint annuitants, beneficiaries, and alternate payees who commenced benefit payments from the Pension Plans on or before March 1, 2024 (Transferred Participants). MetLife irrevocably guarantees and assumes the sole obligation to make future monthly pension benefit payments to the Transferred Participants as provided under its group annuity contract, with direct payments that began September 1, 2024. The aggregate amount of each Transferred Participant’s payment under the group annuity contract will be equal to the amount of each individual’s payment under the Pension Plans.

The purchase of the group annuity contract was funded directly by assets of the Pension Plans. The transferred pension liability required no additional funding prior to transfer, as the liability was fully funded. As a result of the transaction, Entergy recognized a one-time non-cash pension settlement charge in the second quarter of 2024 of $325 million, of which $8 million was recorded at Utility, as described below, and $317 million was recorded at Parent & Other. The $317 million settlement charge at Parent & Other is reflected in Miscellaneous - net in Other income (deductions) on the consolidated income statements.

For the nine months ended September 30, 2023, lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs.

In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred.

In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded are evaluated in each rate case filed by Entergy Texas and an amortization period is determined at that time.

See Note 11 to the financial statements in the Form 10-K for further discussion of pension and other postretirement benefits costs.

Employer Contributions

Based on current assumptions, Entergy expects to contribute $270 million to its qualified pension plans in 2024. As of September 30, 2024, Entergy had contributed $164.3 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their current and former employees in 2024:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Expected 2024 pension contributions	$55,112	$48,401	$14,980	$4,931	$8,272	$16,650
Pension contributions made through September 2024	$33,560	$29,375	$9,820	$2,643	$4,782	$9,994
Remaining estimated pension contributions to be made in 2024	$21,552	$19,026	$5,160	$2,288	$3,490	$6,656

Retirement Benefits [Text Block]

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Components of Qualified Net Pension Cost

Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$23,358	$25,302
Interest cost on projected benefit obligation	56,631	73,850
Expected return on assets	(76,557)	(96,775)

Recognized net loss	14,322	20,204
Settlement charges	—	6,914
Net pension cost	$17,754	$29,495

Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$70,104	$76,346
Interest cost on projected benefit obligation	193,218	223,584
Expected return on assets	(262,043)	(290,660)

Recognized net loss	44,296	63,858
Settlement charges	325,253	152,588
Net pension cost	$370,828	$225,716

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,101	$5,550	$1,284	$441	$963	$1,380
Interest cost on projected benefit obligation	13,218	13,962	3,522	1,569	2,832	3,375
Expected return on assets	(18,156)	(19,446)	(5,112)	(2,202)	(4,077)	(4,602)

Recognized net loss	5,745	2,601	1,140	471	393	1,155

Net pension cost	$4,908	$2,667	$834	$279	$111	$1,308



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,566	$6,175	$1,431	$492	$1,074	$1,430
Interest cost on projected benefit obligation	13,813	14,896	3,797	1,667	3,138	3,419
Expected return on assets	(17,639)	(18,892)	(4,830)	(2,206)	(4,147)	(4,392)

Recognized net loss	5,438	4,748	1,545	456	1,008	1,204
Settlement charges	558	561	345	248	632	228
Net pension cost	$6,736	$7,488	$2,288	$657	$1,705	$1,889

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$12,300	$16,652	$3,852	$1,321	$2,886	$4,147
Interest cost on projected benefit obligation	39,652	41,884	10,564	4,707	8,494	10,152
Expected return on assets	(54,466)	(58,340)	(15,338)	(6,609)	(12,231)	(13,883)

Recognized net loss	17,237	7,805	3,420	1,411	1,179	3,482
Settlement charges	—	—	—	—	—	611
Net pension cost	$14,723	$8,001	$2,498	$830	$328	$4,509


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$13,976	$18,654	$4,369	$1,470	$3,271	$4,342
Interest cost on projected benefit obligation	42,010	45,219	11,551	5,051	9,542	10,382
Expected return on assets	(53,593)	(56,891)	(14,349)	(6,783)	(12,322)	(13,431)


Recognized net loss	18,170	14,704	4,937	1,453	3,057	3,939
Settlement charges	24,516	38,791	12,088	1,948	10,902	5,518
Net pension cost	$45,079	$60,477	$18,596	$3,139	$14,450	$10,750

Non-Qualified Net Pension Cost

Entergy recognized $2.7 million and $21.8 million in pension cost for its non-qualified pension plans for the third quarters of 2024 and 2023, respectively. For the third quarter of 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the third quarter of 2023 were settlement charges of $18 million related to the payment of lump sum benefits out of the plans. Entergy recognized $8.2 million and $39.8 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 were settlement charges of $27.3 million related to the payment of lump sum benefits out of the plans.

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$68	$51	$83	$31	$62
2023	$63	$24	$85	$33	$63

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$204	$153	$249	$93	$186
2023	$575	$76	$724	$99	$190

For the third quarters of 2024 and 2023, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2024, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2023, there were settlement charges of $379 thousand and $453 thousand for Entergy Arkansas and Entergy Mississippi, respectively, included in the non-qualified pension costs above related to the payment of lump sum benefits out of the plan.

Components of Net Other Postretirement Benefits Cost (Income)

Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$3,126	$3,664
Interest cost on accumulated postretirement benefit obligation (APBO)	9,852	10,568
Expected return on assets	(10,569)	(9,183)

Amortization of prior service credit	(5,720)	(5,640)
Recognized net gain	(2,761)	(2,862)
Net other postretirement benefits income	($6,072)	($3,453)

Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$9,378	$10,992
Interest cost on APBO	29,556	31,704
Expected return on assets	(31,707)	(27,549)

Amortization of prior service credit	(17,160)	(16,920)
Recognized net gain	(8,283)	(8,586)
Net other postretirement benefits income	($18,216)	($10,359)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$642	$700	$184	$51	$168	$175
Interest cost on APBO	1,833	1,999	486	253	603	398
Expected return on assets	(4,384)	—	(1,372)	(1,479)	(2,539)	(728)

Amortization of prior service cost (credit)	524	(1,136)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	—	(1,738)	15	19	148	—
Net other postretirement benefits income	($1,385)	($175)	($926)	($1,385)	($2,713)	($228)



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$741	$845	$220	$59	$202	$189
Interest cost on APBO	2,001	2,233	543	290	649	432
Expected return on assets	(3,778)	—	(1,179)	(1,316)	(2,194)	(634)


Amortization of prior service cost (credit)	524	(951)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	43	(1,764)	21	117	229	—
Net other postretirement benefits (income) cost	($469)	$363	($634)	($1,079)	($2,207)	($86)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$1,926	$2,100	$552	$153	$504	$525
Interest cost on APBO	5,499	5,997	1,458	759	1,809	1,194
Expected return on assets	(13,152)	—	(4,116)	(4,437)	(7,617)	(2,184)
Amortization of prior service cost (credit)	1,572	(3,408)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	—	(5,214)	45	57	444	—
Net other postretirement benefits income	($4,155)	($525)	($2,778)	($4,155)	($8,139)	($684)


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$2,223	$2,535	$660	$177	$606	$567
Interest cost on APBO	6,003	6,699	1,629	870	1,947	1,296
Expected return on assets	(11,334)	—	(3,537)	(3,948)	(6,582)	(1,902)


Amortization of prior service cost (credit)	1,572	(2,853)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	129	(5,292)	63	351	687	—
Net other postretirement benefits (income) cost	($1,407)	$1,089	($1,902)	($3,237)	($6,621)	($258)

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2024 and 2023:



2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,513	($40)	$3,473
Amortization of net gain (loss)	(405)	2,615	(80)	2,130


	($405)	$6,128	($120)	$5,603
Entergy Louisiana
Amortization of prior service credit	$—	$1,136	$—	$1,136
Amortization of net gain (loss)	(104)	1,738	—	1,634

	($104)	$2,874	$—	$2,770



2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,509	($113)	$3,396
Amortization of net gain (loss)	(1,064)	2,898	(134)	1,700

Settlement loss	(490)	—	(1,429)	(1,919)
	($1,554)	$6,407	($1,676)	$3,177
Entergy Louisiana
Amortization of prior service credit	$—	$951	$—	$951
Amortization of net gain (loss)	(190)	1,764	—	1,574
Settlement loss	(22)	—	—	(22)
	($212)	$2,715	$—	$2,503

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2024 and 2023:


2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,539	($120)	$10,419
Amortization of net gain (loss)	(2,438)	7,845	(240)	5,167

Settlement loss	(316,974)	—	—	(316,974)
	($319,412)	$18,384	($360)	($301,388)
Entergy Louisiana
Amortization of prior service credit	$—	$3,408	$—	$3,408
Amortization of net gain (loss)	(312)	5,214	(2)	4,900

	($312)	$8,622	($2)	$8,308


2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,529	($338)	$10,191
Amortization of net gain (loss)	(3,208)	8,693	(491)	4,994

Settlement loss	(7,446)	—	(2,962)	(10,408)
	($10,654)	$19,222	($3,791)	$4,777
Entergy Louisiana
Amortization of prior service credit	$—	$2,853	$—	$2,853
Amortization of net gain (loss)	(588)	5,292	(1)	4,703
Settlement loss	(1,551)	—	—	(1,551)
	($2,139)	$8,145	($1)	$6,005

Accounting for Pension and Other Postretirement Benefits

In accordance with accounting standards, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income.

Qualified Pension Settlement Costs

In May 2024, Entergy Corporation entered into a commitment agreement by and between Entergy Corporation, Newport Trust Company, LLC, as independent fiduciary of Entergy Corporation Retirement Plan II for Non-Bargaining Employees, Entergy Corporation Retirement Plan II for Bargaining Employees, Entergy Corporation Retirement Plan III, and Entergy Corporation Retirement Plan IV for Bargaining Employees (the Pension Plans), and the Metropolitan Life Insurance Company (MetLife), under which the Pension Plans purchased a nonparticipating single premium group annuity contract from MetLife to settle approximately $1.157 billion of benefit liabilities of the Pension Plans.

The group annuity contract primarily covers a population that includes approximately 3,400 non-utility business retirees, joint annuitants, beneficiaries, and alternate payees who commenced benefit payments from the Pension Plans on or before March 1, 2024 (Transferred Participants). MetLife irrevocably guarantees and assumes the sole obligation to make future monthly pension benefit payments to the Transferred Participants as provided under its group annuity contract, with direct payments that began September 1, 2024. The aggregate amount of each Transferred Participant’s payment under the group annuity contract will be equal to the amount of each individual’s payment under the Pension Plans.

The purchase of the group annuity contract was funded directly by assets of the Pension Plans. The transferred pension liability required no additional funding prior to transfer, as the liability was fully funded. As a result of the transaction, Entergy recognized a one-time non-cash pension settlement charge in the second quarter of 2024 of $325 million, of which $8 million was recorded at Utility, as described below, and $317 million was recorded at Parent & Other. The $317 million settlement charge at Parent & Other is reflected in Miscellaneous - net in Other income (deductions) on the consolidated income statements.

For the nine months ended September 30, 2023, lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs.

In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred.

In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded are evaluated in each rate case filed by Entergy Texas and an amortization period is determined at that time.

See Note 11 to the financial statements in the Form 10-K for further discussion of pension and other postretirement benefits costs.

Employer Contributions

Based on current assumptions, Entergy expects to contribute $270 million to its qualified pension plans in 2024. As of September 30, 2024, Entergy had contributed $164.3 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their current and former employees in 2024:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Expected 2024 pension contributions	$55,112	$48,401	$14,980	$4,931	$8,272	$16,650
Pension contributions made through September 2024	$33,560	$29,375	$9,820	$2,643	$4,782	$9,994
Remaining estimated pension contributions to be made in 2024	$21,552	$19,026	$5,160	$2,288	$3,490	$6,656

Retirement Benefits [Text Block]

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Components of Qualified Net Pension Cost

Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$23,358	$25,302
Interest cost on projected benefit obligation	56,631	73,850
Expected return on assets	(76,557)	(96,775)

Recognized net loss	14,322	20,204
Settlement charges	—	6,914
Net pension cost	$17,754	$29,495

Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$70,104	$76,346
Interest cost on projected benefit obligation	193,218	223,584
Expected return on assets	(262,043)	(290,660)

Recognized net loss	44,296	63,858
Settlement charges	325,253	152,588
Net pension cost	$370,828	$225,716

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,101	$5,550	$1,284	$441	$963	$1,380
Interest cost on projected benefit obligation	13,218	13,962	3,522	1,569	2,832	3,375
Expected return on assets	(18,156)	(19,446)	(5,112)	(2,202)	(4,077)	(4,602)

Recognized net loss	5,745	2,601	1,140	471	393	1,155

Net pension cost	$4,908	$2,667	$834	$279	$111	$1,308



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,566	$6,175	$1,431	$492	$1,074	$1,430
Interest cost on projected benefit obligation	13,813	14,896	3,797	1,667	3,138	3,419
Expected return on assets	(17,639)	(18,892)	(4,830)	(2,206)	(4,147)	(4,392)

Recognized net loss	5,438	4,748	1,545	456	1,008	1,204
Settlement charges	558	561	345	248	632	228
Net pension cost	$6,736	$7,488	$2,288	$657	$1,705	$1,889

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$12,300	$16,652	$3,852	$1,321	$2,886	$4,147
Interest cost on projected benefit obligation	39,652	41,884	10,564	4,707	8,494	10,152
Expected return on assets	(54,466)	(58,340)	(15,338)	(6,609)	(12,231)	(13,883)

Recognized net loss	17,237	7,805	3,420	1,411	1,179	3,482
Settlement charges	—	—	—	—	—	611
Net pension cost	$14,723	$8,001	$2,498	$830	$328	$4,509


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$13,976	$18,654	$4,369	$1,470	$3,271	$4,342
Interest cost on projected benefit obligation	42,010	45,219	11,551	5,051	9,542	10,382
Expected return on assets	(53,593)	(56,891)	(14,349)	(6,783)	(12,322)	(13,431)


Recognized net loss	18,170	14,704	4,937	1,453	3,057	3,939
Settlement charges	24,516	38,791	12,088	1,948	10,902	5,518
Net pension cost	$45,079	$60,477	$18,596	$3,139	$14,450	$10,750

Non-Qualified Net Pension Cost

Entergy recognized $2.7 million and $21.8 million in pension cost for its non-qualified pension plans for the third quarters of 2024 and 2023, respectively. For the third quarter of 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the third quarter of 2023 were settlement charges of $18 million related to the payment of lump sum benefits out of the plans. Entergy recognized $8.2 million and $39.8 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 were settlement charges of $27.3 million related to the payment of lump sum benefits out of the plans.

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$68	$51	$83	$31	$62
2023	$63	$24	$85	$33	$63

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$204	$153	$249	$93	$186
2023	$575	$76	$724	$99	$190

For the third quarters of 2024 and 2023, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2024, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2023, there were settlement charges of $379 thousand and $453 thousand for Entergy Arkansas and Entergy Mississippi, respectively, included in the non-qualified pension costs above related to the payment of lump sum benefits out of the plan.

Components of Net Other Postretirement Benefits Cost (Income)

Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$3,126	$3,664
Interest cost on accumulated postretirement benefit obligation (APBO)	9,852	10,568
Expected return on assets	(10,569)	(9,183)

Amortization of prior service credit	(5,720)	(5,640)
Recognized net gain	(2,761)	(2,862)
Net other postretirement benefits income	($6,072)	($3,453)

Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$9,378	$10,992
Interest cost on APBO	29,556	31,704
Expected return on assets	(31,707)	(27,549)

Amortization of prior service credit	(17,160)	(16,920)
Recognized net gain	(8,283)	(8,586)
Net other postretirement benefits income	($18,216)	($10,359)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$642	$700	$184	$51	$168	$175
Interest cost on APBO	1,833	1,999	486	253	603	398
Expected return on assets	(4,384)	—	(1,372)	(1,479)	(2,539)	(728)

Amortization of prior service cost (credit)	524	(1,136)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	—	(1,738)	15	19	148	—
Net other postretirement benefits income	($1,385)	($175)	($926)	($1,385)	($2,713)	($228)



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$741	$845	$220	$59	$202	$189
Interest cost on APBO	2,001	2,233	543	290	649	432
Expected return on assets	(3,778)	—	(1,179)	(1,316)	(2,194)	(634)


Amortization of prior service cost (credit)	524	(951)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	43	(1,764)	21	117	229	—
Net other postretirement benefits (income) cost	($469)	$363	($634)	($1,079)	($2,207)	($86)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$1,926	$2,100	$552	$153	$504	$525
Interest cost on APBO	5,499	5,997	1,458	759	1,809	1,194
Expected return on assets	(13,152)	—	(4,116)	(4,437)	(7,617)	(2,184)
Amortization of prior service cost (credit)	1,572	(3,408)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	—	(5,214)	45	57	444	—
Net other postretirement benefits income	($4,155)	($525)	($2,778)	($4,155)	($8,139)	($684)


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$2,223	$2,535	$660	$177	$606	$567
Interest cost on APBO	6,003	6,699	1,629	870	1,947	1,296
Expected return on assets	(11,334)	—	(3,537)	(3,948)	(6,582)	(1,902)


Amortization of prior service cost (credit)	1,572	(2,853)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	129	(5,292)	63	351	687	—
Net other postretirement benefits (income) cost	($1,407)	$1,089	($1,902)	($3,237)	($6,621)	($258)

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2024 and 2023:



2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,513	($40)	$3,473
Amortization of net gain (loss)	(405)	2,615	(80)	2,130


	($405)	$6,128	($120)	$5,603
Entergy Louisiana
Amortization of prior service credit	$—	$1,136	$—	$1,136
Amortization of net gain (loss)	(104)	1,738	—	1,634

	($104)	$2,874	$—	$2,770



2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,509	($113)	$3,396
Amortization of net gain (loss)	(1,064)	2,898	(134)	1,700

Settlement loss	(490)	—	(1,429)	(1,919)
	($1,554)	$6,407	($1,676)	$3,177
Entergy Louisiana
Amortization of prior service credit	$—	$951	$—	$951
Amortization of net gain (loss)	(190)	1,764	—	1,574
Settlement loss	(22)	—	—	(22)
	($212)	$2,715	$—	$2,503

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2024 and 2023:


2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,539	($120)	$10,419
Amortization of net gain (loss)	(2,438)	7,845	(240)	5,167

Settlement loss	(316,974)	—	—	(316,974)
	($319,412)	$18,384	($360)	($301,388)
Entergy Louisiana
Amortization of prior service credit	$—	$3,408	$—	$3,408
Amortization of net gain (loss)	(312)	5,214	(2)	4,900

	($312)	$8,622	($2)	$8,308


2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,529	($338)	$10,191
Amortization of net gain (loss)	(3,208)	8,693	(491)	4,994

Settlement loss	(7,446)	—	(2,962)	(10,408)
	($10,654)	$19,222	($3,791)	$4,777
Entergy Louisiana
Amortization of prior service credit	$—	$2,853	$—	$2,853
Amortization of net gain (loss)	(588)	5,292	(1)	4,703
Settlement loss	(1,551)	—	—	(1,551)
	($2,139)	$8,145	($1)	$6,005

Accounting for Pension and Other Postretirement Benefits

In accordance with accounting standards, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income.

Qualified Pension Settlement Costs

In May 2024, Entergy Corporation entered into a commitment agreement by and between Entergy Corporation, Newport Trust Company, LLC, as independent fiduciary of Entergy Corporation Retirement Plan II for Non-Bargaining Employees, Entergy Corporation Retirement Plan II for Bargaining Employees, Entergy Corporation Retirement Plan III, and Entergy Corporation Retirement Plan IV for Bargaining Employees (the Pension Plans), and the Metropolitan Life Insurance Company (MetLife), under which the Pension Plans purchased a nonparticipating single premium group annuity contract from MetLife to settle approximately $1.157 billion of benefit liabilities of the Pension Plans.

The group annuity contract primarily covers a population that includes approximately 3,400 non-utility business retirees, joint annuitants, beneficiaries, and alternate payees who commenced benefit payments from the Pension Plans on or before March 1, 2024 (Transferred Participants). MetLife irrevocably guarantees and assumes the sole obligation to make future monthly pension benefit payments to the Transferred Participants as provided under its group annuity contract, with direct payments that began September 1, 2024. The aggregate amount of each Transferred Participant’s payment under the group annuity contract will be equal to the amount of each individual’s payment under the Pension Plans.

The purchase of the group annuity contract was funded directly by assets of the Pension Plans. The transferred pension liability required no additional funding prior to transfer, as the liability was fully funded. As a result of the transaction, Entergy recognized a one-time non-cash pension settlement charge in the second quarter of 2024 of $325 million, of which $8 million was recorded at Utility, as described below, and $317 million was recorded at Parent & Other. The $317 million settlement charge at Parent & Other is reflected in Miscellaneous - net in Other income (deductions) on the consolidated income statements.

For the nine months ended September 30, 2023, lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs.

In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred.

In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded are evaluated in each rate case filed by Entergy Texas and an amortization period is determined at that time.

See Note 11 to the financial statements in the Form 10-K for further discussion of pension and other postretirement benefits costs.

Employer Contributions

Based on current assumptions, Entergy expects to contribute $270 million to its qualified pension plans in 2024. As of September 30, 2024, Entergy had contributed $164.3 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their current and former employees in 2024:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Expected 2024 pension contributions	$55,112	$48,401	$14,980	$4,931	$8,272	$16,650
Pension contributions made through September 2024	$33,560	$29,375	$9,820	$2,643	$4,782	$9,994
Remaining estimated pension contributions to be made in 2024	$21,552	$19,026	$5,160	$2,288	$3,490	$6,656

Retirement Benefits [Text Block]

RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Components of Qualified Net Pension Cost

Entergy’s qualified pension costs, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$23,358	$25,302
Interest cost on projected benefit obligation	56,631	73,850
Expected return on assets	(76,557)	(96,775)

Recognized net loss	14,322	20,204
Settlement charges	—	6,914
Net pension cost	$17,754	$29,495

Entergy’s qualified pension costs, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$70,104	$76,346
Interest cost on projected benefit obligation	193,218	223,584
Expected return on assets	(262,043)	(290,660)

Recognized net loss	44,296	63,858
Settlement charges	325,253	152,588
Net pension cost	$370,828	$225,716

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,101	$5,550	$1,284	$441	$963	$1,380
Interest cost on projected benefit obligation	13,218	13,962	3,522	1,569	2,832	3,375
Expected return on assets	(18,156)	(19,446)	(5,112)	(2,202)	(4,077)	(4,602)

Recognized net loss	5,745	2,601	1,140	471	393	1,155

Net pension cost	$4,908	$2,667	$834	$279	$111	$1,308



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$4,566	$6,175	$1,431	$492	$1,074	$1,430
Interest cost on projected benefit obligation	13,813	14,896	3,797	1,667	3,138	3,419
Expected return on assets	(17,639)	(18,892)	(4,830)	(2,206)	(4,147)	(4,392)

Recognized net loss	5,438	4,748	1,545	456	1,008	1,204
Settlement charges	558	561	345	248	632	228
Net pension cost	$6,736	$7,488	$2,288	$657	$1,705	$1,889

The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$12,300	$16,652	$3,852	$1,321	$2,886	$4,147
Interest cost on projected benefit obligation	39,652	41,884	10,564	4,707	8,494	10,152
Expected return on assets	(54,466)	(58,340)	(15,338)	(6,609)	(12,231)	(13,883)

Recognized net loss	17,237	7,805	3,420	1,411	1,179	3,482
Settlement charges	—	—	—	—	—	611
Net pension cost	$14,723	$8,001	$2,498	$830	$328	$4,509


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$13,976	$18,654	$4,369	$1,470	$3,271	$4,342
Interest cost on projected benefit obligation	42,010	45,219	11,551	5,051	9,542	10,382
Expected return on assets	(53,593)	(56,891)	(14,349)	(6,783)	(12,322)	(13,431)


Recognized net loss	18,170	14,704	4,937	1,453	3,057	3,939
Settlement charges	24,516	38,791	12,088	1,948	10,902	5,518
Net pension cost	$45,079	$60,477	$18,596	$3,139	$14,450	$10,750

Non-Qualified Net Pension Cost

Entergy recognized $2.7 million and $21.8 million in pension cost for its non-qualified pension plans for the third quarters of 2024 and 2023, respectively. For the third quarter of 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the third quarter of 2023 were settlement charges of $18 million related to the payment of lump sum benefits out of the plans. Entergy recognized $8.2 million and $39.8 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, there were no settlement charges related to the payment of lump sum benefits out of the plan. Included in the pension cost for non-qualified pension plans for the nine months ended September 30, 2023 were settlement charges of $27.3 million related to the payment of lump sum benefits out of the plans.

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the third quarters of 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$68	$51	$83	$31	$62
2023	$63	$24	$85	$33	$63

The Registrant Subsidiaries recognized the following pension cost for their current and former employees for their non-qualified pension plans for the nine months ended September 30, 2024 and 2023:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Thousands)
2024	$204	$153	$249	$93	$186
2023	$575	$76	$724	$99	$190

For the third quarters of 2024 and 2023, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2024, there were no settlement charges for the Registrant Subsidiaries related to the payment of lump sum benefits out of the plan. For the nine months ended September 30, 2023, there were settlement charges of $379 thousand and $453 thousand for Entergy Arkansas and Entergy Mississippi, respectively, included in the non-qualified pension costs above related to the payment of lump sum benefits out of the plan.

Components of Net Other Postretirement Benefits Cost (Income)

Entergy’s other postretirement benefits income, including amounts capitalized, for the third quarters of 2024 and 2023, included the following components:



	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$3,126	$3,664
Interest cost on accumulated postretirement benefit obligation (APBO)	9,852	10,568
Expected return on assets	(10,569)	(9,183)

Amortization of prior service credit	(5,720)	(5,640)
Recognized net gain	(2,761)	(2,862)
Net other postretirement benefits income	($6,072)	($3,453)

Entergy’s other postretirement benefits income, including amounts capitalized, for the nine months ended September 30, 2024 and 2023, included the following components:


	2024	2023
	(In Thousands)
Service cost - benefits earned during the period	$9,378	$10,992
Interest cost on APBO	29,556	31,704
Expected return on assets	(31,707)	(27,549)

Amortization of prior service credit	(17,160)	(16,920)
Recognized net gain	(8,283)	(8,586)
Net other postretirement benefits income	($18,216)	($10,359)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the third quarters of 2024 and 2023, included the following components:



2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$642	$700	$184	$51	$168	$175
Interest cost on APBO	1,833	1,999	486	253	603	398
Expected return on assets	(4,384)	—	(1,372)	(1,479)	(2,539)	(728)

Amortization of prior service cost (credit)	524	(1,136)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	—	(1,738)	15	19	148	—
Net other postretirement benefits income	($1,385)	($175)	($926)	($1,385)	($2,713)	($228)



2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$741	$845	$220	$59	$202	$189
Interest cost on APBO	2,001	2,233	543	290	649	432
Expected return on assets	(3,778)	—	(1,179)	(1,316)	(2,194)	(634)


Amortization of prior service cost (credit)	524	(951)	(239)	(229)	(1,093)	(73)
Recognized net (gain) loss	43	(1,764)	21	117	229	—
Net other postretirement benefits (income) cost	($469)	$363	($634)	($1,079)	($2,207)	($86)

The Registrant Subsidiaries’ other postretirement benefits (income) cost, including amounts capitalized, for their current and former employees for the nine months ended September 30, 2024 and 2023, included the following components:


2024	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$1,926	$2,100	$552	$153	$504	$525
Interest cost on APBO	5,499	5,997	1,458	759	1,809	1,194
Expected return on assets	(13,152)	—	(4,116)	(4,437)	(7,617)	(2,184)
Amortization of prior service cost (credit)	1,572	(3,408)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	—	(5,214)	45	57	444	—
Net other postretirement benefits income	($4,155)	($525)	($2,778)	($4,155)	($8,139)	($684)


2023	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Service cost - benefits earned during the period	$2,223	$2,535	$660	$177	$606	$567
Interest cost on APBO	6,003	6,699	1,629	870	1,947	1,296
Expected return on assets	(11,334)	—	(3,537)	(3,948)	(6,582)	(1,902)


Amortization of prior service cost (credit)	1,572	(2,853)	(717)	(687)	(3,279)	(219)
Recognized net (gain) loss	129	(5,292)	63	351	687	—
Net other postretirement benefits (income) cost	($1,407)	$1,089	($1,902)	($3,237)	($6,621)	($258)

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2024 and 2023:



2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,513	($40)	$3,473
Amortization of net gain (loss)	(405)	2,615	(80)	2,130


	($405)	$6,128	($120)	$5,603
Entergy Louisiana
Amortization of prior service credit	$—	$1,136	$—	$1,136
Amortization of net gain (loss)	(104)	1,738	—	1,634

	($104)	$2,874	$—	$2,770



2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$3,509	($113)	$3,396
Amortization of net gain (loss)	(1,064)	2,898	(134)	1,700

Settlement loss	(490)	—	(1,429)	(1,919)
	($1,554)	$6,407	($1,676)	$3,177
Entergy Louisiana
Amortization of prior service credit	$—	$951	$—	$951
Amortization of net gain (loss)	(190)	1,764	—	1,574
Settlement loss	(22)	—	—	(22)
	($212)	$2,715	$—	$2,503

Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2024 and 2023:


2024	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,539	($120)	$10,419
Amortization of net gain (loss)	(2,438)	7,845	(240)	5,167

Settlement loss	(316,974)	—	—	(316,974)
	($319,412)	$18,384	($360)	($301,388)
Entergy Louisiana
Amortization of prior service credit	$—	$3,408	$—	$3,408
Amortization of net gain (loss)	(312)	5,214	(2)	4,900

	($312)	$8,622	($2)	$8,308


2023	Qualified Pension Costs	Other Postretirement Costs	Non-Qualified Pension Costs	Total
	(In Thousands)
Entergy
Amortization of prior service credit (cost)	$—	$10,529	($338)	$10,191
Amortization of net gain (loss)	(3,208)	8,693	(491)	4,994

Settlement loss	(7,446)	—	(2,962)	(10,408)
	($10,654)	$19,222	($3,791)	$4,777
Entergy Louisiana
Amortization of prior service credit	$—	$2,853	$—	$2,853
Amortization of net gain (loss)	(588)	5,292	(1)	4,703
Settlement loss	(1,551)	—	—	(1,551)
	($2,139)	$8,145	($1)	$6,005

Accounting for Pension and Other Postretirement Benefits

In accordance with accounting standards, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income.

Qualified Pension Settlement Costs

In May 2024, Entergy Corporation entered into a commitment agreement by and between Entergy Corporation, Newport Trust Company, LLC, as independent fiduciary of Entergy Corporation Retirement Plan II for Non-Bargaining Employees, Entergy Corporation Retirement Plan II for Bargaining Employees, Entergy Corporation Retirement Plan III, and Entergy Corporation Retirement Plan IV for Bargaining Employees (the Pension Plans), and the Metropolitan Life Insurance Company (MetLife), under which the Pension Plans purchased a nonparticipating single premium group annuity contract from MetLife to settle approximately $1.157 billion of benefit liabilities of the Pension Plans.

The group annuity contract primarily covers a population that includes approximately 3,400 non-utility business retirees, joint annuitants, beneficiaries, and alternate payees who commenced benefit payments from the Pension Plans on or before March 1, 2024 (Transferred Participants). MetLife irrevocably guarantees and assumes the sole obligation to make future monthly pension benefit payments to the Transferred Participants as provided under its group annuity contract, with direct payments that began September 1, 2024. The aggregate amount of each Transferred Participant’s payment under the group annuity contract will be equal to the amount of each individual’s payment under the Pension Plans.

The purchase of the group annuity contract was funded directly by assets of the Pension Plans. The transferred pension liability required no additional funding prior to transfer, as the liability was fully funded. As a result of the transaction, Entergy recognized a one-time non-cash pension settlement charge in the second quarter of 2024 of $325 million, of which $8 million was recorded at Utility, as described below, and $317 million was recorded at Parent & Other. The $317 million settlement charge at Parent & Other is reflected in Miscellaneous - net in Other income (deductions) on the consolidated income statements.

For the nine months ended September 30, 2023, lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees exceeded the sum of the Plans’ 2023 service and interest cost, resulting in settlement costs. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy each participate in one or both of the Entergy Corporation Retirement Plan for Bargaining Employees and the Entergy Corporation Retirement Plan for Non-Bargaining Employees and incurred settlement costs.

In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred.

In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, to track the surplus or deficit in the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amounts recorded are evaluated in each rate case filed by Entergy Texas and an amortization period is determined at that time.

See Note 11 to the financial statements in the Form 10-K for further discussion of pension and other postretirement benefits costs.

Employer Contributions

Based on current assumptions, Entergy expects to contribute $270 million to its qualified pension plans in 2024. As of September 30, 2024, Entergy had contributed $164.3 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their current and former employees in 2024:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
Expected 2024 pension contributions	$55,112	$48,401	$14,980	$4,931	$8,272	$16,650
Pension contributions made through September 2024	$33,560	$29,375	$9,820	$2,643	$4,782	$9,994
Remaining estimated pension contributions to be made in 2024	$21,552	$19,026	$5,160	$2,288	$3,490	$6,656