Long-Term Debt (Notes)

12 Months Ended

Dec. 31, 2024

Long-Term Debt [Text Block]

LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy as of December 31, 2024 and 2023 consisted of:

Type of Debt and Maturity	Weighted-Average Interest Rate December 31, 2024	Interest Rate Ranges at December 31,		Outstanding at  December 31,
		2024	2023	2024	2023
				(In Thousands)
Mortgage Bonds
2024-2028	3.54%	1.50% - 6.00%	0.95% - 6.00%	$4,268,000	$6,143,000
2029-2033	3.62%	1.60% - 6.41%	1.60% - 5.30%	4,250,000	4,150,000
2034-2044	4.66%	3.10% - 6.54%	3.10% - 5.00%	3,457,000	1,507,000
2045-2066	4.48%	2.65% - 5.85%	2.65% - 5.80%	9,685,000	7,935,000
Governmental Bonds (a)
2024-2044	2.43%	2.0% - 2.5%	2.0% - 2.5%	282,375	282,375
Securitization Bonds
2024-2036	3.64%	3.051% - 3.697%	2.67% - 3.697%	242,424	267,003
Variable Interest Entities Notes Payable (Note 4)
2024-2029	3.67%	1.84% - 5.94%	1.84% - 5.94%	390,000	320,000
Entergy Corporation Senior Notes
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy Corporation Junior Subordinated Debentures due December 2054 (b)	n/a	7.125%	—	1,200,000	—
Entergy New Orleans Unsecured Term Loan due June 2024	n/a	—	6.25%	—	85,000
Vermont Yankee Credit Facility (Note 4)	n/a	—	6.61%	—	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	6.28%	6.10%	22,500	70,200
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	6.33%	6.17%	18,700	46,600
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	6.32%	6.07%	18,900	29,500
System Energy VIE Credit Facility (Note 4)	n/a	6.27%	5.91%	72,700	21,500
Long-term DOE Obligation (c)	—	—	—	216,016	205,151
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,203	34,260
Unamortized Premium and Discount - Net				(17,575)	(11,638)
Unamortized Debt Issuance Costs				(204,010)	(171,475)
Other				5,362	5,420
Total Long-Term Debt				27,991,595	25,107,896
Less Amount Due Within One Year				1,378,090	2,099,057
Long-Term Debt Excluding Amount Due Within One Year				$26,613,505	$23,008,839
Fair Value of Long-Term Debt				$25,181,802	$22,489,174

(a)Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds.

(b)Entergy Corporation will pay interest at an annual rate of 7.125% through November 2029. Commencing on December 1, 2029, the annual rate will equal the five-year treasury rate as of the most recent reset interest determination date plus 2.67%, which interest resets will occur on each five-year anniversary of December 1 after December 1, 2029.

(c)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Amount
	(In Thousands)
2025	$1,379,140
2026	$2,375,720
2027	$1,043,520
2028	$2,177,293
2029	$405,720

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through January 2027. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2025. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2025.

Long-term debt for the Registrant Subsidiaries as of December 31, 2024 and 2023 consisted of:

	2024	2023
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.70% Series due June 2024	$—	$375,000
3.5% Series due April 2026	600,000	600,000
4.00% Series due June 2028	350,000	350,000
5.15% Series due January 2033	425,000	425,000
5.30% Series due September 2033	300,000	300,000
5.45% Series due June 2034	400,000	—
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	550,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
5.75% Series due June 2054	400,000	—
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	4,760,000	4,335,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
1.84% Series N due July 2026	90,000	90,000
5.54% Series O due May 2029	70,000	—
Credit Facility due June 2027, weighted-average rate 6.28%	22,500	70,200
Total variable interest entity notes payable and credit facility	182,500	160,200
Other:
Long-term DOE Obligation (b)	216,016	205,151
Unamortized Premium and Discount – Net	3,620	7,508
Unamortized Debt Issuance Costs	(41,552)	(36,711)
Other	1,910	1,932
Total Long-Term Debt	5,122,494	4,673,080
Less Amount Due Within One Year	—	375,000
Long-Term Debt Excluding Amount Due Within One Year	$5,122,494	$4,298,080
Fair Value of Long-Term Debt	$4,546,643	$4,166,941

	2024	2023
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
0.95% Series due October 2024	$—	$1,000,000
5.40% Series due November 2024	—	400,000
3.78% Series due April 2025	110,000	110,000
3.78% Series due April 2025	190,000	190,000
4.44% Series due January 2026	250,000	250,000
2.40% Series due October 2026	400,000	400,000
3.12% Series due September 2027	450,000	450,000
3.25% Series due April 2028	425,000	425,000
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.00% Series due March 2033	750,000	750,000
5.35% Series due March 2034	500,000	—
5.15% Series due September 2034	700,000	—
3.10% Series due June 2041	500,000	500,000
5% Series due July 2044	170,000	170,000
4.95% Series due January 2045	450,000	450,000
4.20% Series due September 2048	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	500,000
5.70% Series due March 2054	700,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	9,565,000	9,065,000
Governmental Bonds (a):
2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
5.94% Series J due September 2026	70,000	70,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2027, weighted-average rate 6.33%	18,700	46,600
Credit Facility due June 2027, weighted-average rate 6.32%	18,900	29,500
Total variable interest entity notes payable and credit facilities	177,600	216,100
Other:
Unamortized Premium and Discount - Net	(9,820)	(6,478)
Unamortized Debt Issuance Costs	(68,459)	(56,101)
Other	3,452	3,488
Total Long-Term Debt	9,866,453	9,420,689
Less Amount Due Within One Year	300,000	1,400,000
Long-Term Debt Excluding Amount Due Within One Year	$9,566,453	$8,020,689
Fair Value of Long-Term Debt	$8,751,266	$8,414,512

	2024	2023
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.75% Series due July 2024	$—	$100,000
3.25% Series due December 2027	150,000	150,000
2.85% Series due June 2028	375,000	375,000
5.0% Series due September 2033	300,000	300,000
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
5.85% Series due June 2054	300,000	—
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,445,000	2,245,000
Other:
Unamortized Premium and Discount – Net	5,283	5,546
Unamortized Debt Issuance Costs	(23,210)	(21,036)
Total Long-Term Debt	2,427,073	2,229,510
Less Amount Due Within One Year	—	100,000
Long-Term Debt Excluding Amount Due Within One Year	$2,427,073	$2,129,510
Fair Value of Long-Term Debt	$2,116,246	$1,969,334

	2024	2023
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.00% Series due March 2025	$78,000	$78,000
4% Series due June 2026	85,000	85,000
6.25% Series due June 2029	35,000	—
6.41% Series due June 2031	65,000	—
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
6.54% Series due June 2034	50,000	—
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	735,000	585,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	—	6,245
Total securitization bonds	—	6,245
Other:
6.25% Unsecured Term Loan due June 2024	—	85,000
Payable to associated company due November 2035	7,004	8,279
Unamortized Premium and Discount – Net	—	(6)
Unamortized Debt Issuance Costs	(6,537)	(7,068)
Total Long-Term Debt	735,467	677,450
Less Amount Due Within One Year	79,140	86,275
Long-Term Debt Excluding Amount Due Within One Year	$656,327	$591,175
Fair Value of Long-Term Debt	$697,466	$602,716

	2024	2023
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.50% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	325,000
5.80% Series due September 2053	350,000	350,000
5.55% Series due September 2054	350,000	—
Total mortgage bonds	3,330,000	2,980,000
Securitization Bonds:
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	51,574	69,908
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	190,850
Total securitization bonds	242,424	260,758
Other:
Unamortized Premium and Discount - Net	7,624	10,199
Unamortized Debt Issuance Costs	(27,605)	(25,865)
Total Long-Term Debt	3,552,443	3,225,092
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$3,552,443	$3,225,092
Fair Value of Long-Term Debt	$3,176,230	$2,936,130

	2024	2023
	(In Thousands)
System Energy
Mortgage Bonds:
2.14% Series due December 2025	$200,000	$200,000
6.00% Series due April 2028	325,000	325,000
5.30% Series due December 2034	300,000	—
Total mortgage bonds	825,000	525,000
Governmental Bonds (a):
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	83,695
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2027, weighted-average rate 6.27%	72,700	21,500
Total variable interest entity notes payable and credit facility	162,700	111,500
Other:
Grand Gulf Sale-Leaseback Obligation	34,203	34,260
Unamortized Premium and Discount – Net	(8,698)	(10,451)
Unamortized Debt Issuance Costs	(7,164)	(5,545)
Total Long-Term Debt	1,089,736	738,459
Less Amount Due Within One Year	200,090	57
Long-Term Debt Excluding Amount Due Within One Year	$889,646	$738,402
Fair Value of Long-Term Debt	$1,063,946	$696,168

(a)Consists of pollution control revenue bonds.

(b)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

(c)The debt is secured by a series of collateral mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2025	$—	$300,000	$—	$79,140	$—	$200,000
2026	$690,000	$720,000	$—	$85,720	$130,000	$—
2027	$22,500	$557,600	$150,000	$720	$150,000	$162,700
2028	$350,000	$425,000	$375,000	$719	$51,574	$325,000
2029	$70,000	$—	$—	$35,720	$300,000	$—

Entergy Louisiana Debt Issuance

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana expects to use the proceeds, together with other funds, to repay on or prior to maturity its $190 million of 3.78% Series mortgage bonds due April 2025, to repay on or prior to maturity its $110 million of 3.78% Series mortgage bonds due April 2025, for capital expenditures, and for general corporate purposes.

Securitization Bonds

Entergy New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount was not due until June 2027, Entergy New Orleans Storm Recovery Funding made a principal payment on the bonds in the amount of $6.2 million in 2024, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds). Although the principal amount was not due until November 2023, Entergy Texas Restoration Funding made principal payments on the bonds in the amount of $54.3 million in 2022, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Laura, Hurricane Delta, and Winter Storm Uri

In January 2022 the PUCT authorized the issuance of securitization bonds to recover $242.9 million of Entergy Texas’s Hurricane Laura, Hurricane Delta, and Winter Storm Uri restoration costs, plus carrying costs, plus approximately $13.3 million relating to a system restoration regulatory asset related to Hurricane Harvey, plus up-front qualified costs. In April 2022, Entergy Texas Restoration Funding II, LLC, a company wholly-owned and consolidated by Entergy Texas, issued $290.85 million of senior secured system restoration bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured System Restoration Bonds:
Tranche A-1 (3.051%) due December 2028	$100,000
Tranche A-2 (3.697%) due December 2036	190,850
Total senior secured system restoration bonds	$290,850

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next three years in the amounts of $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1, after which Tranche A-1 will be fully repaid. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with payments of $6.6 million in 2027, $20.5 million in 2028, and $21.2 million in 2029.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million.  The initial term of the leases expired in July 2015.  System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value.  In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy.

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.  As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance.  The lease payments are recognized as principal and interest payments on the debt balance.

As of December 31, 2024, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:

	Amount
	(In Thousands)
2025	$17,188
2026	17,188
2027	17,188
2028	17,188
2029	17,188
Years thereafter	120,312
Total	206,252
Less: Amount representing interest	172,049
Present value of net minimum lease payments	$34,203

Entergy Arkansas [Member]

Long-Term Debt [Text Block]

LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy as of December 31, 2024 and 2023 consisted of:

Type of Debt and Maturity	Weighted-Average Interest Rate December 31, 2024	Interest Rate Ranges at December 31,		Outstanding at  December 31,
		2024	2023	2024	2023
				(In Thousands)
Mortgage Bonds
2024-2028	3.54%	1.50% - 6.00%	0.95% - 6.00%	$4,268,000	$6,143,000
2029-2033	3.62%	1.60% - 6.41%	1.60% - 5.30%	4,250,000	4,150,000
2034-2044	4.66%	3.10% - 6.54%	3.10% - 5.00%	3,457,000	1,507,000
2045-2066	4.48%	2.65% - 5.85%	2.65% - 5.80%	9,685,000	7,935,000
Governmental Bonds (a)
2024-2044	2.43%	2.0% - 2.5%	2.0% - 2.5%	282,375	282,375
Securitization Bonds
2024-2036	3.64%	3.051% - 3.697%	2.67% - 3.697%	242,424	267,003
Variable Interest Entities Notes Payable (Note 4)
2024-2029	3.67%	1.84% - 5.94%	1.84% - 5.94%	390,000	320,000
Entergy Corporation Senior Notes
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy Corporation Junior Subordinated Debentures due December 2054 (b)	n/a	7.125%	—	1,200,000	—
Entergy New Orleans Unsecured Term Loan due June 2024	n/a	—	6.25%	—	85,000
Vermont Yankee Credit Facility (Note 4)	n/a	—	6.61%	—	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	6.28%	6.10%	22,500	70,200
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	6.33%	6.17%	18,700	46,600
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	6.32%	6.07%	18,900	29,500
System Energy VIE Credit Facility (Note 4)	n/a	6.27%	5.91%	72,700	21,500
Long-term DOE Obligation (c)	—	—	—	216,016	205,151
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,203	34,260
Unamortized Premium and Discount - Net				(17,575)	(11,638)
Unamortized Debt Issuance Costs				(204,010)	(171,475)
Other				5,362	5,420
Total Long-Term Debt				27,991,595	25,107,896
Less Amount Due Within One Year				1,378,090	2,099,057
Long-Term Debt Excluding Amount Due Within One Year				$26,613,505	$23,008,839
Fair Value of Long-Term Debt				$25,181,802	$22,489,174

(a)Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds.

(b)Entergy Corporation will pay interest at an annual rate of 7.125% through November 2029. Commencing on December 1, 2029, the annual rate will equal the five-year treasury rate as of the most recent reset interest determination date plus 2.67%, which interest resets will occur on each five-year anniversary of December 1 after December 1, 2029.

(c)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Amount
	(In Thousands)
2025	$1,379,140
2026	$2,375,720
2027	$1,043,520
2028	$2,177,293
2029	$405,720

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through January 2027. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2025. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2025.

Long-term debt for the Registrant Subsidiaries as of December 31, 2024 and 2023 consisted of:

	2024	2023
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.70% Series due June 2024	$—	$375,000
3.5% Series due April 2026	600,000	600,000
4.00% Series due June 2028	350,000	350,000
5.15% Series due January 2033	425,000	425,000
5.30% Series due September 2033	300,000	300,000
5.45% Series due June 2034	400,000	—
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	550,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
5.75% Series due June 2054	400,000	—
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	4,760,000	4,335,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
1.84% Series N due July 2026	90,000	90,000
5.54% Series O due May 2029	70,000	—
Credit Facility due June 2027, weighted-average rate 6.28%	22,500	70,200
Total variable interest entity notes payable and credit facility	182,500	160,200
Other:
Long-term DOE Obligation (b)	216,016	205,151
Unamortized Premium and Discount – Net	3,620	7,508
Unamortized Debt Issuance Costs	(41,552)	(36,711)
Other	1,910	1,932
Total Long-Term Debt	5,122,494	4,673,080
Less Amount Due Within One Year	—	375,000
Long-Term Debt Excluding Amount Due Within One Year	$5,122,494	$4,298,080
Fair Value of Long-Term Debt	$4,546,643	$4,166,941

	2024	2023
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
0.95% Series due October 2024	$—	$1,000,000
5.40% Series due November 2024	—	400,000
3.78% Series due April 2025	110,000	110,000
3.78% Series due April 2025	190,000	190,000
4.44% Series due January 2026	250,000	250,000
2.40% Series due October 2026	400,000	400,000
3.12% Series due September 2027	450,000	450,000
3.25% Series due April 2028	425,000	425,000
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.00% Series due March 2033	750,000	750,000
5.35% Series due March 2034	500,000	—
5.15% Series due September 2034	700,000	—
3.10% Series due June 2041	500,000	500,000
5% Series due July 2044	170,000	170,000
4.95% Series due January 2045	450,000	450,000
4.20% Series due September 2048	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	500,000
5.70% Series due March 2054	700,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	9,565,000	9,065,000
Governmental Bonds (a):
2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
5.94% Series J due September 2026	70,000	70,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2027, weighted-average rate 6.33%	18,700	46,600
Credit Facility due June 2027, weighted-average rate 6.32%	18,900	29,500
Total variable interest entity notes payable and credit facilities	177,600	216,100
Other:
Unamortized Premium and Discount - Net	(9,820)	(6,478)
Unamortized Debt Issuance Costs	(68,459)	(56,101)
Other	3,452	3,488
Total Long-Term Debt	9,866,453	9,420,689
Less Amount Due Within One Year	300,000	1,400,000
Long-Term Debt Excluding Amount Due Within One Year	$9,566,453	$8,020,689
Fair Value of Long-Term Debt	$8,751,266	$8,414,512

	2024	2023
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.75% Series due July 2024	$—	$100,000
3.25% Series due December 2027	150,000	150,000
2.85% Series due June 2028	375,000	375,000
5.0% Series due September 2033	300,000	300,000
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
5.85% Series due June 2054	300,000	—
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,445,000	2,245,000
Other:
Unamortized Premium and Discount – Net	5,283	5,546
Unamortized Debt Issuance Costs	(23,210)	(21,036)
Total Long-Term Debt	2,427,073	2,229,510
Less Amount Due Within One Year	—	100,000
Long-Term Debt Excluding Amount Due Within One Year	$2,427,073	$2,129,510
Fair Value of Long-Term Debt	$2,116,246	$1,969,334

	2024	2023
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.00% Series due March 2025	$78,000	$78,000
4% Series due June 2026	85,000	85,000
6.25% Series due June 2029	35,000	—
6.41% Series due June 2031	65,000	—
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
6.54% Series due June 2034	50,000	—
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	735,000	585,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	—	6,245
Total securitization bonds	—	6,245
Other:
6.25% Unsecured Term Loan due June 2024	—	85,000
Payable to associated company due November 2035	7,004	8,279
Unamortized Premium and Discount – Net	—	(6)
Unamortized Debt Issuance Costs	(6,537)	(7,068)
Total Long-Term Debt	735,467	677,450
Less Amount Due Within One Year	79,140	86,275
Long-Term Debt Excluding Amount Due Within One Year	$656,327	$591,175
Fair Value of Long-Term Debt	$697,466	$602,716

	2024	2023
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.50% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	325,000
5.80% Series due September 2053	350,000	350,000
5.55% Series due September 2054	350,000	—
Total mortgage bonds	3,330,000	2,980,000
Securitization Bonds:
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	51,574	69,908
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	190,850
Total securitization bonds	242,424	260,758
Other:
Unamortized Premium and Discount - Net	7,624	10,199
Unamortized Debt Issuance Costs	(27,605)	(25,865)
Total Long-Term Debt	3,552,443	3,225,092
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$3,552,443	$3,225,092
Fair Value of Long-Term Debt	$3,176,230	$2,936,130

	2024	2023
	(In Thousands)
System Energy
Mortgage Bonds:
2.14% Series due December 2025	$200,000	$200,000
6.00% Series due April 2028	325,000	325,000
5.30% Series due December 2034	300,000	—
Total mortgage bonds	825,000	525,000
Governmental Bonds (a):
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	83,695
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2027, weighted-average rate 6.27%	72,700	21,500
Total variable interest entity notes payable and credit facility	162,700	111,500
Other:
Grand Gulf Sale-Leaseback Obligation	34,203	34,260
Unamortized Premium and Discount – Net	(8,698)	(10,451)
Unamortized Debt Issuance Costs	(7,164)	(5,545)
Total Long-Term Debt	1,089,736	738,459
Less Amount Due Within One Year	200,090	57
Long-Term Debt Excluding Amount Due Within One Year	$889,646	$738,402
Fair Value of Long-Term Debt	$1,063,946	$696,168

(a)Consists of pollution control revenue bonds.

(b)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

(c)The debt is secured by a series of collateral mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2025	$—	$300,000	$—	$79,140	$—	$200,000
2026	$690,000	$720,000	$—	$85,720	$130,000	$—
2027	$22,500	$557,600	$150,000	$720	$150,000	$162,700
2028	$350,000	$425,000	$375,000	$719	$51,574	$325,000
2029	$70,000	$—	$—	$35,720	$300,000	$—

Entergy Louisiana Debt Issuance

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana expects to use the proceeds, together with other funds, to repay on or prior to maturity its $190 million of 3.78% Series mortgage bonds due April 2025, to repay on or prior to maturity its $110 million of 3.78% Series mortgage bonds due April 2025, for capital expenditures, and for general corporate purposes.

Securitization Bonds

Entergy New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount was not due until June 2027, Entergy New Orleans Storm Recovery Funding made a principal payment on the bonds in the amount of $6.2 million in 2024, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds). Although the principal amount was not due until November 2023, Entergy Texas Restoration Funding made principal payments on the bonds in the amount of $54.3 million in 2022, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Laura, Hurricane Delta, and Winter Storm Uri

In January 2022 the PUCT authorized the issuance of securitization bonds to recover $242.9 million of Entergy Texas’s Hurricane Laura, Hurricane Delta, and Winter Storm Uri restoration costs, plus carrying costs, plus approximately $13.3 million relating to a system restoration regulatory asset related to Hurricane Harvey, plus up-front qualified costs. In April 2022, Entergy Texas Restoration Funding II, LLC, a company wholly-owned and consolidated by Entergy Texas, issued $290.85 million of senior secured system restoration bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured System Restoration Bonds:
Tranche A-1 (3.051%) due December 2028	$100,000
Tranche A-2 (3.697%) due December 2036	190,850
Total senior secured system restoration bonds	$290,850

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next three years in the amounts of $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1, after which Tranche A-1 will be fully repaid. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with payments of $6.6 million in 2027, $20.5 million in 2028, and $21.2 million in 2029.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million.  The initial term of the leases expired in July 2015.  System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value.  In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy.

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.  As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance.  The lease payments are recognized as principal and interest payments on the debt balance.

As of December 31, 2024, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:

	Amount
	(In Thousands)
2025	$17,188
2026	17,188
2027	17,188
2028	17,188
2029	17,188
Years thereafter	120,312
Total	206,252
Less: Amount representing interest	172,049
Present value of net minimum lease payments	$34,203

Entergy Louisiana [Member]

Long-Term Debt [Text Block]

LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy as of December 31, 2024 and 2023 consisted of:

Type of Debt and Maturity	Weighted-Average Interest Rate December 31, 2024	Interest Rate Ranges at December 31,		Outstanding at  December 31,
		2024	2023	2024	2023
				(In Thousands)
Mortgage Bonds
2024-2028	3.54%	1.50% - 6.00%	0.95% - 6.00%	$4,268,000	$6,143,000
2029-2033	3.62%	1.60% - 6.41%	1.60% - 5.30%	4,250,000	4,150,000
2034-2044	4.66%	3.10% - 6.54%	3.10% - 5.00%	3,457,000	1,507,000
2045-2066	4.48%	2.65% - 5.85%	2.65% - 5.80%	9,685,000	7,935,000
Governmental Bonds (a)
2024-2044	2.43%	2.0% - 2.5%	2.0% - 2.5%	282,375	282,375
Securitization Bonds
2024-2036	3.64%	3.051% - 3.697%	2.67% - 3.697%	242,424	267,003
Variable Interest Entities Notes Payable (Note 4)
2024-2029	3.67%	1.84% - 5.94%	1.84% - 5.94%	390,000	320,000
Entergy Corporation Senior Notes
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy Corporation Junior Subordinated Debentures due December 2054 (b)	n/a	7.125%	—	1,200,000	—
Entergy New Orleans Unsecured Term Loan due June 2024	n/a	—	6.25%	—	85,000
Vermont Yankee Credit Facility (Note 4)	n/a	—	6.61%	—	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	6.28%	6.10%	22,500	70,200
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	6.33%	6.17%	18,700	46,600
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	6.32%	6.07%	18,900	29,500
System Energy VIE Credit Facility (Note 4)	n/a	6.27%	5.91%	72,700	21,500
Long-term DOE Obligation (c)	—	—	—	216,016	205,151
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,203	34,260
Unamortized Premium and Discount - Net				(17,575)	(11,638)
Unamortized Debt Issuance Costs				(204,010)	(171,475)
Other				5,362	5,420
Total Long-Term Debt				27,991,595	25,107,896
Less Amount Due Within One Year				1,378,090	2,099,057
Long-Term Debt Excluding Amount Due Within One Year				$26,613,505	$23,008,839
Fair Value of Long-Term Debt				$25,181,802	$22,489,174

(a)Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds.

(b)Entergy Corporation will pay interest at an annual rate of 7.125% through November 2029. Commencing on December 1, 2029, the annual rate will equal the five-year treasury rate as of the most recent reset interest determination date plus 2.67%, which interest resets will occur on each five-year anniversary of December 1 after December 1, 2029.

(c)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Amount
	(In Thousands)
2025	$1,379,140
2026	$2,375,720
2027	$1,043,520
2028	$2,177,293
2029	$405,720

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through January 2027. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2025. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2025.

Long-term debt for the Registrant Subsidiaries as of December 31, 2024 and 2023 consisted of:

	2024	2023
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.70% Series due June 2024	$—	$375,000
3.5% Series due April 2026	600,000	600,000
4.00% Series due June 2028	350,000	350,000
5.15% Series due January 2033	425,000	425,000
5.30% Series due September 2033	300,000	300,000
5.45% Series due June 2034	400,000	—
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	550,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
5.75% Series due June 2054	400,000	—
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	4,760,000	4,335,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
1.84% Series N due July 2026	90,000	90,000
5.54% Series O due May 2029	70,000	—
Credit Facility due June 2027, weighted-average rate 6.28%	22,500	70,200
Total variable interest entity notes payable and credit facility	182,500	160,200
Other:
Long-term DOE Obligation (b)	216,016	205,151
Unamortized Premium and Discount – Net	3,620	7,508
Unamortized Debt Issuance Costs	(41,552)	(36,711)
Other	1,910	1,932
Total Long-Term Debt	5,122,494	4,673,080
Less Amount Due Within One Year	—	375,000
Long-Term Debt Excluding Amount Due Within One Year	$5,122,494	$4,298,080
Fair Value of Long-Term Debt	$4,546,643	$4,166,941

	2024	2023
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
0.95% Series due October 2024	$—	$1,000,000
5.40% Series due November 2024	—	400,000
3.78% Series due April 2025	110,000	110,000
3.78% Series due April 2025	190,000	190,000
4.44% Series due January 2026	250,000	250,000
2.40% Series due October 2026	400,000	400,000
3.12% Series due September 2027	450,000	450,000
3.25% Series due April 2028	425,000	425,000
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.00% Series due March 2033	750,000	750,000
5.35% Series due March 2034	500,000	—
5.15% Series due September 2034	700,000	—
3.10% Series due June 2041	500,000	500,000
5% Series due July 2044	170,000	170,000
4.95% Series due January 2045	450,000	450,000
4.20% Series due September 2048	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	500,000
5.70% Series due March 2054	700,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	9,565,000	9,065,000
Governmental Bonds (a):
2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
5.94% Series J due September 2026	70,000	70,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2027, weighted-average rate 6.33%	18,700	46,600
Credit Facility due June 2027, weighted-average rate 6.32%	18,900	29,500
Total variable interest entity notes payable and credit facilities	177,600	216,100
Other:
Unamortized Premium and Discount - Net	(9,820)	(6,478)
Unamortized Debt Issuance Costs	(68,459)	(56,101)
Other	3,452	3,488
Total Long-Term Debt	9,866,453	9,420,689
Less Amount Due Within One Year	300,000	1,400,000
Long-Term Debt Excluding Amount Due Within One Year	$9,566,453	$8,020,689
Fair Value of Long-Term Debt	$8,751,266	$8,414,512

	2024	2023
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.75% Series due July 2024	$—	$100,000
3.25% Series due December 2027	150,000	150,000
2.85% Series due June 2028	375,000	375,000
5.0% Series due September 2033	300,000	300,000
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
5.85% Series due June 2054	300,000	—
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,445,000	2,245,000
Other:
Unamortized Premium and Discount – Net	5,283	5,546
Unamortized Debt Issuance Costs	(23,210)	(21,036)
Total Long-Term Debt	2,427,073	2,229,510
Less Amount Due Within One Year	—	100,000
Long-Term Debt Excluding Amount Due Within One Year	$2,427,073	$2,129,510
Fair Value of Long-Term Debt	$2,116,246	$1,969,334

	2024	2023
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.00% Series due March 2025	$78,000	$78,000
4% Series due June 2026	85,000	85,000
6.25% Series due June 2029	35,000	—
6.41% Series due June 2031	65,000	—
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
6.54% Series due June 2034	50,000	—
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	735,000	585,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	—	6,245
Total securitization bonds	—	6,245
Other:
6.25% Unsecured Term Loan due June 2024	—	85,000
Payable to associated company due November 2035	7,004	8,279
Unamortized Premium and Discount – Net	—	(6)
Unamortized Debt Issuance Costs	(6,537)	(7,068)
Total Long-Term Debt	735,467	677,450
Less Amount Due Within One Year	79,140	86,275
Long-Term Debt Excluding Amount Due Within One Year	$656,327	$591,175
Fair Value of Long-Term Debt	$697,466	$602,716

	2024	2023
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.50% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	325,000
5.80% Series due September 2053	350,000	350,000
5.55% Series due September 2054	350,000	—
Total mortgage bonds	3,330,000	2,980,000
Securitization Bonds:
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	51,574	69,908
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	190,850
Total securitization bonds	242,424	260,758
Other:
Unamortized Premium and Discount - Net	7,624	10,199
Unamortized Debt Issuance Costs	(27,605)	(25,865)
Total Long-Term Debt	3,552,443	3,225,092
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$3,552,443	$3,225,092
Fair Value of Long-Term Debt	$3,176,230	$2,936,130

	2024	2023
	(In Thousands)
System Energy
Mortgage Bonds:
2.14% Series due December 2025	$200,000	$200,000
6.00% Series due April 2028	325,000	325,000
5.30% Series due December 2034	300,000	—
Total mortgage bonds	825,000	525,000
Governmental Bonds (a):
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	83,695
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2027, weighted-average rate 6.27%	72,700	21,500
Total variable interest entity notes payable and credit facility	162,700	111,500
Other:
Grand Gulf Sale-Leaseback Obligation	34,203	34,260
Unamortized Premium and Discount – Net	(8,698)	(10,451)
Unamortized Debt Issuance Costs	(7,164)	(5,545)
Total Long-Term Debt	1,089,736	738,459
Less Amount Due Within One Year	200,090	57
Long-Term Debt Excluding Amount Due Within One Year	$889,646	$738,402
Fair Value of Long-Term Debt	$1,063,946	$696,168

(a)Consists of pollution control revenue bonds.

(b)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

(c)The debt is secured by a series of collateral mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2025	$—	$300,000	$—	$79,140	$—	$200,000
2026	$690,000	$720,000	$—	$85,720	$130,000	$—
2027	$22,500	$557,600	$150,000	$720	$150,000	$162,700
2028	$350,000	$425,000	$375,000	$719	$51,574	$325,000
2029	$70,000	$—	$—	$35,720	$300,000	$—

Entergy Louisiana Debt Issuance

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana expects to use the proceeds, together with other funds, to repay on or prior to maturity its $190 million of 3.78% Series mortgage bonds due April 2025, to repay on or prior to maturity its $110 million of 3.78% Series mortgage bonds due April 2025, for capital expenditures, and for general corporate purposes.

Securitization Bonds

Entergy New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount was not due until June 2027, Entergy New Orleans Storm Recovery Funding made a principal payment on the bonds in the amount of $6.2 million in 2024, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds). Although the principal amount was not due until November 2023, Entergy Texas Restoration Funding made principal payments on the bonds in the amount of $54.3 million in 2022, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Laura, Hurricane Delta, and Winter Storm Uri

In January 2022 the PUCT authorized the issuance of securitization bonds to recover $242.9 million of Entergy Texas’s Hurricane Laura, Hurricane Delta, and Winter Storm Uri restoration costs, plus carrying costs, plus approximately $13.3 million relating to a system restoration regulatory asset related to Hurricane Harvey, plus up-front qualified costs. In April 2022, Entergy Texas Restoration Funding II, LLC, a company wholly-owned and consolidated by Entergy Texas, issued $290.85 million of senior secured system restoration bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured System Restoration Bonds:
Tranche A-1 (3.051%) due December 2028	$100,000
Tranche A-2 (3.697%) due December 2036	190,850
Total senior secured system restoration bonds	$290,850

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next three years in the amounts of $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1, after which Tranche A-1 will be fully repaid. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with payments of $6.6 million in 2027, $20.5 million in 2028, and $21.2 million in 2029.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million.  The initial term of the leases expired in July 2015.  System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value.  In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy.

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.  As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance.  The lease payments are recognized as principal and interest payments on the debt balance.

As of December 31, 2024, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:

	Amount
	(In Thousands)
2025	$17,188
2026	17,188
2027	17,188
2028	17,188
2029	17,188
Years thereafter	120,312
Total	206,252
Less: Amount representing interest	172,049
Present value of net minimum lease payments	$34,203

Entergy Mississippi [Member]

Long-Term Debt [Text Block]

LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy as of December 31, 2024 and 2023 consisted of:

Type of Debt and Maturity	Weighted-Average Interest Rate December 31, 2024	Interest Rate Ranges at December 31,		Outstanding at  December 31,
		2024	2023	2024	2023
				(In Thousands)
Mortgage Bonds
2024-2028	3.54%	1.50% - 6.00%	0.95% - 6.00%	$4,268,000	$6,143,000
2029-2033	3.62%	1.60% - 6.41%	1.60% - 5.30%	4,250,000	4,150,000
2034-2044	4.66%	3.10% - 6.54%	3.10% - 5.00%	3,457,000	1,507,000
2045-2066	4.48%	2.65% - 5.85%	2.65% - 5.80%	9,685,000	7,935,000
Governmental Bonds (a)
2024-2044	2.43%	2.0% - 2.5%	2.0% - 2.5%	282,375	282,375
Securitization Bonds
2024-2036	3.64%	3.051% - 3.697%	2.67% - 3.697%	242,424	267,003
Variable Interest Entities Notes Payable (Note 4)
2024-2029	3.67%	1.84% - 5.94%	1.84% - 5.94%	390,000	320,000
Entergy Corporation Senior Notes
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy Corporation Junior Subordinated Debentures due December 2054 (b)	n/a	7.125%	—	1,200,000	—
Entergy New Orleans Unsecured Term Loan due June 2024	n/a	—	6.25%	—	85,000
Vermont Yankee Credit Facility (Note 4)	n/a	—	6.61%	—	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	6.28%	6.10%	22,500	70,200
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	6.33%	6.17%	18,700	46,600
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	6.32%	6.07%	18,900	29,500
System Energy VIE Credit Facility (Note 4)	n/a	6.27%	5.91%	72,700	21,500
Long-term DOE Obligation (c)	—	—	—	216,016	205,151
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,203	34,260
Unamortized Premium and Discount - Net				(17,575)	(11,638)
Unamortized Debt Issuance Costs				(204,010)	(171,475)
Other				5,362	5,420
Total Long-Term Debt				27,991,595	25,107,896
Less Amount Due Within One Year				1,378,090	2,099,057
Long-Term Debt Excluding Amount Due Within One Year				$26,613,505	$23,008,839
Fair Value of Long-Term Debt				$25,181,802	$22,489,174

(a)Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds.

(b)Entergy Corporation will pay interest at an annual rate of 7.125% through November 2029. Commencing on December 1, 2029, the annual rate will equal the five-year treasury rate as of the most recent reset interest determination date plus 2.67%, which interest resets will occur on each five-year anniversary of December 1 after December 1, 2029.

(c)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Amount
	(In Thousands)
2025	$1,379,140
2026	$2,375,720
2027	$1,043,520
2028	$2,177,293
2029	$405,720

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through January 2027. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2025. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2025.

Long-term debt for the Registrant Subsidiaries as of December 31, 2024 and 2023 consisted of:

	2024	2023
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.70% Series due June 2024	$—	$375,000
3.5% Series due April 2026	600,000	600,000
4.00% Series due June 2028	350,000	350,000
5.15% Series due January 2033	425,000	425,000
5.30% Series due September 2033	300,000	300,000
5.45% Series due June 2034	400,000	—
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	550,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
5.75% Series due June 2054	400,000	—
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	4,760,000	4,335,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
1.84% Series N due July 2026	90,000	90,000
5.54% Series O due May 2029	70,000	—
Credit Facility due June 2027, weighted-average rate 6.28%	22,500	70,200
Total variable interest entity notes payable and credit facility	182,500	160,200
Other:
Long-term DOE Obligation (b)	216,016	205,151
Unamortized Premium and Discount – Net	3,620	7,508
Unamortized Debt Issuance Costs	(41,552)	(36,711)
Other	1,910	1,932
Total Long-Term Debt	5,122,494	4,673,080
Less Amount Due Within One Year	—	375,000
Long-Term Debt Excluding Amount Due Within One Year	$5,122,494	$4,298,080
Fair Value of Long-Term Debt	$4,546,643	$4,166,941

	2024	2023
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
0.95% Series due October 2024	$—	$1,000,000
5.40% Series due November 2024	—	400,000
3.78% Series due April 2025	110,000	110,000
3.78% Series due April 2025	190,000	190,000
4.44% Series due January 2026	250,000	250,000
2.40% Series due October 2026	400,000	400,000
3.12% Series due September 2027	450,000	450,000
3.25% Series due April 2028	425,000	425,000
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.00% Series due March 2033	750,000	750,000
5.35% Series due March 2034	500,000	—
5.15% Series due September 2034	700,000	—
3.10% Series due June 2041	500,000	500,000
5% Series due July 2044	170,000	170,000
4.95% Series due January 2045	450,000	450,000
4.20% Series due September 2048	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	500,000
5.70% Series due March 2054	700,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	9,565,000	9,065,000
Governmental Bonds (a):
2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
5.94% Series J due September 2026	70,000	70,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2027, weighted-average rate 6.33%	18,700	46,600
Credit Facility due June 2027, weighted-average rate 6.32%	18,900	29,500
Total variable interest entity notes payable and credit facilities	177,600	216,100
Other:
Unamortized Premium and Discount - Net	(9,820)	(6,478)
Unamortized Debt Issuance Costs	(68,459)	(56,101)
Other	3,452	3,488
Total Long-Term Debt	9,866,453	9,420,689
Less Amount Due Within One Year	300,000	1,400,000
Long-Term Debt Excluding Amount Due Within One Year	$9,566,453	$8,020,689
Fair Value of Long-Term Debt	$8,751,266	$8,414,512

	2024	2023
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.75% Series due July 2024	$—	$100,000
3.25% Series due December 2027	150,000	150,000
2.85% Series due June 2028	375,000	375,000
5.0% Series due September 2033	300,000	300,000
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
5.85% Series due June 2054	300,000	—
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,445,000	2,245,000
Other:
Unamortized Premium and Discount – Net	5,283	5,546
Unamortized Debt Issuance Costs	(23,210)	(21,036)
Total Long-Term Debt	2,427,073	2,229,510
Less Amount Due Within One Year	—	100,000
Long-Term Debt Excluding Amount Due Within One Year	$2,427,073	$2,129,510
Fair Value of Long-Term Debt	$2,116,246	$1,969,334

	2024	2023
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.00% Series due March 2025	$78,000	$78,000
4% Series due June 2026	85,000	85,000
6.25% Series due June 2029	35,000	—
6.41% Series due June 2031	65,000	—
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
6.54% Series due June 2034	50,000	—
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	735,000	585,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	—	6,245
Total securitization bonds	—	6,245
Other:
6.25% Unsecured Term Loan due June 2024	—	85,000
Payable to associated company due November 2035	7,004	8,279
Unamortized Premium and Discount – Net	—	(6)
Unamortized Debt Issuance Costs	(6,537)	(7,068)
Total Long-Term Debt	735,467	677,450
Less Amount Due Within One Year	79,140	86,275
Long-Term Debt Excluding Amount Due Within One Year	$656,327	$591,175
Fair Value of Long-Term Debt	$697,466	$602,716

	2024	2023
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.50% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	325,000
5.80% Series due September 2053	350,000	350,000
5.55% Series due September 2054	350,000	—
Total mortgage bonds	3,330,000	2,980,000
Securitization Bonds:
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	51,574	69,908
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	190,850
Total securitization bonds	242,424	260,758
Other:
Unamortized Premium and Discount - Net	7,624	10,199
Unamortized Debt Issuance Costs	(27,605)	(25,865)
Total Long-Term Debt	3,552,443	3,225,092
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$3,552,443	$3,225,092
Fair Value of Long-Term Debt	$3,176,230	$2,936,130

	2024	2023
	(In Thousands)
System Energy
Mortgage Bonds:
2.14% Series due December 2025	$200,000	$200,000
6.00% Series due April 2028	325,000	325,000
5.30% Series due December 2034	300,000	—
Total mortgage bonds	825,000	525,000
Governmental Bonds (a):
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	83,695
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2027, weighted-average rate 6.27%	72,700	21,500
Total variable interest entity notes payable and credit facility	162,700	111,500
Other:
Grand Gulf Sale-Leaseback Obligation	34,203	34,260
Unamortized Premium and Discount – Net	(8,698)	(10,451)
Unamortized Debt Issuance Costs	(7,164)	(5,545)
Total Long-Term Debt	1,089,736	738,459
Less Amount Due Within One Year	200,090	57
Long-Term Debt Excluding Amount Due Within One Year	$889,646	$738,402
Fair Value of Long-Term Debt	$1,063,946	$696,168

(a)Consists of pollution control revenue bonds.

(b)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

(c)The debt is secured by a series of collateral mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2025	$—	$300,000	$—	$79,140	$—	$200,000
2026	$690,000	$720,000	$—	$85,720	$130,000	$—
2027	$22,500	$557,600	$150,000	$720	$150,000	$162,700
2028	$350,000	$425,000	$375,000	$719	$51,574	$325,000
2029	$70,000	$—	$—	$35,720	$300,000	$—

Entergy Louisiana Debt Issuance

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana expects to use the proceeds, together with other funds, to repay on or prior to maturity its $190 million of 3.78% Series mortgage bonds due April 2025, to repay on or prior to maturity its $110 million of 3.78% Series mortgage bonds due April 2025, for capital expenditures, and for general corporate purposes.

Securitization Bonds

Entergy New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount was not due until June 2027, Entergy New Orleans Storm Recovery Funding made a principal payment on the bonds in the amount of $6.2 million in 2024, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds). Although the principal amount was not due until November 2023, Entergy Texas Restoration Funding made principal payments on the bonds in the amount of $54.3 million in 2022, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Laura, Hurricane Delta, and Winter Storm Uri

In January 2022 the PUCT authorized the issuance of securitization bonds to recover $242.9 million of Entergy Texas’s Hurricane Laura, Hurricane Delta, and Winter Storm Uri restoration costs, plus carrying costs, plus approximately $13.3 million relating to a system restoration regulatory asset related to Hurricane Harvey, plus up-front qualified costs. In April 2022, Entergy Texas Restoration Funding II, LLC, a company wholly-owned and consolidated by Entergy Texas, issued $290.85 million of senior secured system restoration bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured System Restoration Bonds:
Tranche A-1 (3.051%) due December 2028	$100,000
Tranche A-2 (3.697%) due December 2036	190,850
Total senior secured system restoration bonds	$290,850

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next three years in the amounts of $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1, after which Tranche A-1 will be fully repaid. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with payments of $6.6 million in 2027, $20.5 million in 2028, and $21.2 million in 2029.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million.  The initial term of the leases expired in July 2015.  System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value.  In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy.

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.  As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance.  The lease payments are recognized as principal and interest payments on the debt balance.

As of December 31, 2024, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:

	Amount
	(In Thousands)
2025	$17,188
2026	17,188
2027	17,188
2028	17,188
2029	17,188
Years thereafter	120,312
Total	206,252
Less: Amount representing interest	172,049
Present value of net minimum lease payments	$34,203

Entergy New Orleans [Member]

Long-Term Debt [Text Block]

LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy as of December 31, 2024 and 2023 consisted of:

Type of Debt and Maturity	Weighted-Average Interest Rate December 31, 2024	Interest Rate Ranges at December 31,		Outstanding at  December 31,
		2024	2023	2024	2023
				(In Thousands)
Mortgage Bonds
2024-2028	3.54%	1.50% - 6.00%	0.95% - 6.00%	$4,268,000	$6,143,000
2029-2033	3.62%	1.60% - 6.41%	1.60% - 5.30%	4,250,000	4,150,000
2034-2044	4.66%	3.10% - 6.54%	3.10% - 5.00%	3,457,000	1,507,000
2045-2066	4.48%	2.65% - 5.85%	2.65% - 5.80%	9,685,000	7,935,000
Governmental Bonds (a)
2024-2044	2.43%	2.0% - 2.5%	2.0% - 2.5%	282,375	282,375
Securitization Bonds
2024-2036	3.64%	3.051% - 3.697%	2.67% - 3.697%	242,424	267,003
Variable Interest Entities Notes Payable (Note 4)
2024-2029	3.67%	1.84% - 5.94%	1.84% - 5.94%	390,000	320,000
Entergy Corporation Senior Notes
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy Corporation Junior Subordinated Debentures due December 2054 (b)	n/a	7.125%	—	1,200,000	—
Entergy New Orleans Unsecured Term Loan due June 2024	n/a	—	6.25%	—	85,000
Vermont Yankee Credit Facility (Note 4)	n/a	—	6.61%	—	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	6.28%	6.10%	22,500	70,200
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	6.33%	6.17%	18,700	46,600
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	6.32%	6.07%	18,900	29,500
System Energy VIE Credit Facility (Note 4)	n/a	6.27%	5.91%	72,700	21,500
Long-term DOE Obligation (c)	—	—	—	216,016	205,151
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,203	34,260
Unamortized Premium and Discount - Net				(17,575)	(11,638)
Unamortized Debt Issuance Costs				(204,010)	(171,475)
Other				5,362	5,420
Total Long-Term Debt				27,991,595	25,107,896
Less Amount Due Within One Year				1,378,090	2,099,057
Long-Term Debt Excluding Amount Due Within One Year				$26,613,505	$23,008,839
Fair Value of Long-Term Debt				$25,181,802	$22,489,174

(a)Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds.

(b)Entergy Corporation will pay interest at an annual rate of 7.125% through November 2029. Commencing on December 1, 2029, the annual rate will equal the five-year treasury rate as of the most recent reset interest determination date plus 2.67%, which interest resets will occur on each five-year anniversary of December 1 after December 1, 2029.

(c)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Amount
	(In Thousands)
2025	$1,379,140
2026	$2,375,720
2027	$1,043,520
2028	$2,177,293
2029	$405,720

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through January 2027. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2025. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2025.

Long-term debt for the Registrant Subsidiaries as of December 31, 2024 and 2023 consisted of:

	2024	2023
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.70% Series due June 2024	$—	$375,000
3.5% Series due April 2026	600,000	600,000
4.00% Series due June 2028	350,000	350,000
5.15% Series due January 2033	425,000	425,000
5.30% Series due September 2033	300,000	300,000
5.45% Series due June 2034	400,000	—
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	550,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
5.75% Series due June 2054	400,000	—
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	4,760,000	4,335,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
1.84% Series N due July 2026	90,000	90,000
5.54% Series O due May 2029	70,000	—
Credit Facility due June 2027, weighted-average rate 6.28%	22,500	70,200
Total variable interest entity notes payable and credit facility	182,500	160,200
Other:
Long-term DOE Obligation (b)	216,016	205,151
Unamortized Premium and Discount – Net	3,620	7,508
Unamortized Debt Issuance Costs	(41,552)	(36,711)
Other	1,910	1,932
Total Long-Term Debt	5,122,494	4,673,080
Less Amount Due Within One Year	—	375,000
Long-Term Debt Excluding Amount Due Within One Year	$5,122,494	$4,298,080
Fair Value of Long-Term Debt	$4,546,643	$4,166,941

	2024	2023
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
0.95% Series due October 2024	$—	$1,000,000
5.40% Series due November 2024	—	400,000
3.78% Series due April 2025	110,000	110,000
3.78% Series due April 2025	190,000	190,000
4.44% Series due January 2026	250,000	250,000
2.40% Series due October 2026	400,000	400,000
3.12% Series due September 2027	450,000	450,000
3.25% Series due April 2028	425,000	425,000
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.00% Series due March 2033	750,000	750,000
5.35% Series due March 2034	500,000	—
5.15% Series due September 2034	700,000	—
3.10% Series due June 2041	500,000	500,000
5% Series due July 2044	170,000	170,000
4.95% Series due January 2045	450,000	450,000
4.20% Series due September 2048	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	500,000
5.70% Series due March 2054	700,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	9,565,000	9,065,000
Governmental Bonds (a):
2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
5.94% Series J due September 2026	70,000	70,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2027, weighted-average rate 6.33%	18,700	46,600
Credit Facility due June 2027, weighted-average rate 6.32%	18,900	29,500
Total variable interest entity notes payable and credit facilities	177,600	216,100
Other:
Unamortized Premium and Discount - Net	(9,820)	(6,478)
Unamortized Debt Issuance Costs	(68,459)	(56,101)
Other	3,452	3,488
Total Long-Term Debt	9,866,453	9,420,689
Less Amount Due Within One Year	300,000	1,400,000
Long-Term Debt Excluding Amount Due Within One Year	$9,566,453	$8,020,689
Fair Value of Long-Term Debt	$8,751,266	$8,414,512

	2024	2023
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.75% Series due July 2024	$—	$100,000
3.25% Series due December 2027	150,000	150,000
2.85% Series due June 2028	375,000	375,000
5.0% Series due September 2033	300,000	300,000
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
5.85% Series due June 2054	300,000	—
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,445,000	2,245,000
Other:
Unamortized Premium and Discount – Net	5,283	5,546
Unamortized Debt Issuance Costs	(23,210)	(21,036)
Total Long-Term Debt	2,427,073	2,229,510
Less Amount Due Within One Year	—	100,000
Long-Term Debt Excluding Amount Due Within One Year	$2,427,073	$2,129,510
Fair Value of Long-Term Debt	$2,116,246	$1,969,334

	2024	2023
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.00% Series due March 2025	$78,000	$78,000
4% Series due June 2026	85,000	85,000
6.25% Series due June 2029	35,000	—
6.41% Series due June 2031	65,000	—
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
6.54% Series due June 2034	50,000	—
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	735,000	585,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	—	6,245
Total securitization bonds	—	6,245
Other:
6.25% Unsecured Term Loan due June 2024	—	85,000
Payable to associated company due November 2035	7,004	8,279
Unamortized Premium and Discount – Net	—	(6)
Unamortized Debt Issuance Costs	(6,537)	(7,068)
Total Long-Term Debt	735,467	677,450
Less Amount Due Within One Year	79,140	86,275
Long-Term Debt Excluding Amount Due Within One Year	$656,327	$591,175
Fair Value of Long-Term Debt	$697,466	$602,716

	2024	2023
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.50% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	325,000
5.80% Series due September 2053	350,000	350,000
5.55% Series due September 2054	350,000	—
Total mortgage bonds	3,330,000	2,980,000
Securitization Bonds:
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	51,574	69,908
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	190,850
Total securitization bonds	242,424	260,758
Other:
Unamortized Premium and Discount - Net	7,624	10,199
Unamortized Debt Issuance Costs	(27,605)	(25,865)
Total Long-Term Debt	3,552,443	3,225,092
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$3,552,443	$3,225,092
Fair Value of Long-Term Debt	$3,176,230	$2,936,130

	2024	2023
	(In Thousands)
System Energy
Mortgage Bonds:
2.14% Series due December 2025	$200,000	$200,000
6.00% Series due April 2028	325,000	325,000
5.30% Series due December 2034	300,000	—
Total mortgage bonds	825,000	525,000
Governmental Bonds (a):
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	83,695
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2027, weighted-average rate 6.27%	72,700	21,500
Total variable interest entity notes payable and credit facility	162,700	111,500
Other:
Grand Gulf Sale-Leaseback Obligation	34,203	34,260
Unamortized Premium and Discount – Net	(8,698)	(10,451)
Unamortized Debt Issuance Costs	(7,164)	(5,545)
Total Long-Term Debt	1,089,736	738,459
Less Amount Due Within One Year	200,090	57
Long-Term Debt Excluding Amount Due Within One Year	$889,646	$738,402
Fair Value of Long-Term Debt	$1,063,946	$696,168

(a)Consists of pollution control revenue bonds.

(b)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

(c)The debt is secured by a series of collateral mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2025	$—	$300,000	$—	$79,140	$—	$200,000
2026	$690,000	$720,000	$—	$85,720	$130,000	$—
2027	$22,500	$557,600	$150,000	$720	$150,000	$162,700
2028	$350,000	$425,000	$375,000	$719	$51,574	$325,000
2029	$70,000	$—	$—	$35,720	$300,000	$—

Entergy Louisiana Debt Issuance

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana expects to use the proceeds, together with other funds, to repay on or prior to maturity its $190 million of 3.78% Series mortgage bonds due April 2025, to repay on or prior to maturity its $110 million of 3.78% Series mortgage bonds due April 2025, for capital expenditures, and for general corporate purposes.

Securitization Bonds

Entergy New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount was not due until June 2027, Entergy New Orleans Storm Recovery Funding made a principal payment on the bonds in the amount of $6.2 million in 2024, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds). Although the principal amount was not due until November 2023, Entergy Texas Restoration Funding made principal payments on the bonds in the amount of $54.3 million in 2022, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Laura, Hurricane Delta, and Winter Storm Uri

In January 2022 the PUCT authorized the issuance of securitization bonds to recover $242.9 million of Entergy Texas’s Hurricane Laura, Hurricane Delta, and Winter Storm Uri restoration costs, plus carrying costs, plus approximately $13.3 million relating to a system restoration regulatory asset related to Hurricane Harvey, plus up-front qualified costs. In April 2022, Entergy Texas Restoration Funding II, LLC, a company wholly-owned and consolidated by Entergy Texas, issued $290.85 million of senior secured system restoration bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured System Restoration Bonds:
Tranche A-1 (3.051%) due December 2028	$100,000
Tranche A-2 (3.697%) due December 2036	190,850
Total senior secured system restoration bonds	$290,850

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next three years in the amounts of $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1, after which Tranche A-1 will be fully repaid. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with payments of $6.6 million in 2027, $20.5 million in 2028, and $21.2 million in 2029.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million.  The initial term of the leases expired in July 2015.  System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value.  In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy.

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.  As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance.  The lease payments are recognized as principal and interest payments on the debt balance.

As of December 31, 2024, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:

	Amount
	(In Thousands)
2025	$17,188
2026	17,188
2027	17,188
2028	17,188
2029	17,188
Years thereafter	120,312
Total	206,252
Less: Amount representing interest	172,049
Present value of net minimum lease payments	$34,203

Entergy Texas [Member]

Long-Term Debt [Text Block]

LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy as of December 31, 2024 and 2023 consisted of:

Type of Debt and Maturity	Weighted-Average Interest Rate December 31, 2024	Interest Rate Ranges at December 31,		Outstanding at  December 31,
		2024	2023	2024	2023
				(In Thousands)
Mortgage Bonds
2024-2028	3.54%	1.50% - 6.00%	0.95% - 6.00%	$4,268,000	$6,143,000
2029-2033	3.62%	1.60% - 6.41%	1.60% - 5.30%	4,250,000	4,150,000
2034-2044	4.66%	3.10% - 6.54%	3.10% - 5.00%	3,457,000	1,507,000
2045-2066	4.48%	2.65% - 5.85%	2.65% - 5.80%	9,685,000	7,935,000
Governmental Bonds (a)
2024-2044	2.43%	2.0% - 2.5%	2.0% - 2.5%	282,375	282,375
Securitization Bonds
2024-2036	3.64%	3.051% - 3.697%	2.67% - 3.697%	242,424	267,003
Variable Interest Entities Notes Payable (Note 4)
2024-2029	3.67%	1.84% - 5.94%	1.84% - 5.94%	390,000	320,000
Entergy Corporation Senior Notes
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy Corporation Junior Subordinated Debentures due December 2054 (b)	n/a	7.125%	—	1,200,000	—
Entergy New Orleans Unsecured Term Loan due June 2024	n/a	—	6.25%	—	85,000
Vermont Yankee Credit Facility (Note 4)	n/a	—	6.61%	—	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	6.28%	6.10%	22,500	70,200
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	6.33%	6.17%	18,700	46,600
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	6.32%	6.07%	18,900	29,500
System Energy VIE Credit Facility (Note 4)	n/a	6.27%	5.91%	72,700	21,500
Long-term DOE Obligation (c)	—	—	—	216,016	205,151
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,203	34,260
Unamortized Premium and Discount - Net				(17,575)	(11,638)
Unamortized Debt Issuance Costs				(204,010)	(171,475)
Other				5,362	5,420
Total Long-Term Debt				27,991,595	25,107,896
Less Amount Due Within One Year				1,378,090	2,099,057
Long-Term Debt Excluding Amount Due Within One Year				$26,613,505	$23,008,839
Fair Value of Long-Term Debt				$25,181,802	$22,489,174

(a)Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds.

(b)Entergy Corporation will pay interest at an annual rate of 7.125% through November 2029. Commencing on December 1, 2029, the annual rate will equal the five-year treasury rate as of the most recent reset interest determination date plus 2.67%, which interest resets will occur on each five-year anniversary of December 1 after December 1, 2029.

(c)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Amount
	(In Thousands)
2025	$1,379,140
2026	$2,375,720
2027	$1,043,520
2028	$2,177,293
2029	$405,720

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through January 2027. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2025. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2025.

Long-term debt for the Registrant Subsidiaries as of December 31, 2024 and 2023 consisted of:

	2024	2023
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.70% Series due June 2024	$—	$375,000
3.5% Series due April 2026	600,000	600,000
4.00% Series due June 2028	350,000	350,000
5.15% Series due January 2033	425,000	425,000
5.30% Series due September 2033	300,000	300,000
5.45% Series due June 2034	400,000	—
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	550,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
5.75% Series due June 2054	400,000	—
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	4,760,000	4,335,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
1.84% Series N due July 2026	90,000	90,000
5.54% Series O due May 2029	70,000	—
Credit Facility due June 2027, weighted-average rate 6.28%	22,500	70,200
Total variable interest entity notes payable and credit facility	182,500	160,200
Other:
Long-term DOE Obligation (b)	216,016	205,151
Unamortized Premium and Discount – Net	3,620	7,508
Unamortized Debt Issuance Costs	(41,552)	(36,711)
Other	1,910	1,932
Total Long-Term Debt	5,122,494	4,673,080
Less Amount Due Within One Year	—	375,000
Long-Term Debt Excluding Amount Due Within One Year	$5,122,494	$4,298,080
Fair Value of Long-Term Debt	$4,546,643	$4,166,941

	2024	2023
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
0.95% Series due October 2024	$—	$1,000,000
5.40% Series due November 2024	—	400,000
3.78% Series due April 2025	110,000	110,000
3.78% Series due April 2025	190,000	190,000
4.44% Series due January 2026	250,000	250,000
2.40% Series due October 2026	400,000	400,000
3.12% Series due September 2027	450,000	450,000
3.25% Series due April 2028	425,000	425,000
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.00% Series due March 2033	750,000	750,000
5.35% Series due March 2034	500,000	—
5.15% Series due September 2034	700,000	—
3.10% Series due June 2041	500,000	500,000
5% Series due July 2044	170,000	170,000
4.95% Series due January 2045	450,000	450,000
4.20% Series due September 2048	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	500,000
5.70% Series due March 2054	700,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	9,565,000	9,065,000
Governmental Bonds (a):
2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
5.94% Series J due September 2026	70,000	70,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2027, weighted-average rate 6.33%	18,700	46,600
Credit Facility due June 2027, weighted-average rate 6.32%	18,900	29,500
Total variable interest entity notes payable and credit facilities	177,600	216,100
Other:
Unamortized Premium and Discount - Net	(9,820)	(6,478)
Unamortized Debt Issuance Costs	(68,459)	(56,101)
Other	3,452	3,488
Total Long-Term Debt	9,866,453	9,420,689
Less Amount Due Within One Year	300,000	1,400,000
Long-Term Debt Excluding Amount Due Within One Year	$9,566,453	$8,020,689
Fair Value of Long-Term Debt	$8,751,266	$8,414,512

	2024	2023
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.75% Series due July 2024	$—	$100,000
3.25% Series due December 2027	150,000	150,000
2.85% Series due June 2028	375,000	375,000
5.0% Series due September 2033	300,000	300,000
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
5.85% Series due June 2054	300,000	—
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,445,000	2,245,000
Other:
Unamortized Premium and Discount – Net	5,283	5,546
Unamortized Debt Issuance Costs	(23,210)	(21,036)
Total Long-Term Debt	2,427,073	2,229,510
Less Amount Due Within One Year	—	100,000
Long-Term Debt Excluding Amount Due Within One Year	$2,427,073	$2,129,510
Fair Value of Long-Term Debt	$2,116,246	$1,969,334

	2024	2023
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.00% Series due March 2025	$78,000	$78,000
4% Series due June 2026	85,000	85,000
6.25% Series due June 2029	35,000	—
6.41% Series due June 2031	65,000	—
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
6.54% Series due June 2034	50,000	—
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	735,000	585,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	—	6,245
Total securitization bonds	—	6,245
Other:
6.25% Unsecured Term Loan due June 2024	—	85,000
Payable to associated company due November 2035	7,004	8,279
Unamortized Premium and Discount – Net	—	(6)
Unamortized Debt Issuance Costs	(6,537)	(7,068)
Total Long-Term Debt	735,467	677,450
Less Amount Due Within One Year	79,140	86,275
Long-Term Debt Excluding Amount Due Within One Year	$656,327	$591,175
Fair Value of Long-Term Debt	$697,466	$602,716

	2024	2023
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.50% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	325,000
5.80% Series due September 2053	350,000	350,000
5.55% Series due September 2054	350,000	—
Total mortgage bonds	3,330,000	2,980,000
Securitization Bonds:
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	51,574	69,908
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	190,850
Total securitization bonds	242,424	260,758
Other:
Unamortized Premium and Discount - Net	7,624	10,199
Unamortized Debt Issuance Costs	(27,605)	(25,865)
Total Long-Term Debt	3,552,443	3,225,092
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$3,552,443	$3,225,092
Fair Value of Long-Term Debt	$3,176,230	$2,936,130

	2024	2023
	(In Thousands)
System Energy
Mortgage Bonds:
2.14% Series due December 2025	$200,000	$200,000
6.00% Series due April 2028	325,000	325,000
5.30% Series due December 2034	300,000	—
Total mortgage bonds	825,000	525,000
Governmental Bonds (a):
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	83,695
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2027, weighted-average rate 6.27%	72,700	21,500
Total variable interest entity notes payable and credit facility	162,700	111,500
Other:
Grand Gulf Sale-Leaseback Obligation	34,203	34,260
Unamortized Premium and Discount – Net	(8,698)	(10,451)
Unamortized Debt Issuance Costs	(7,164)	(5,545)
Total Long-Term Debt	1,089,736	738,459
Less Amount Due Within One Year	200,090	57
Long-Term Debt Excluding Amount Due Within One Year	$889,646	$738,402
Fair Value of Long-Term Debt	$1,063,946	$696,168

(a)Consists of pollution control revenue bonds.

(b)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

(c)The debt is secured by a series of collateral mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2025	$—	$300,000	$—	$79,140	$—	$200,000
2026	$690,000	$720,000	$—	$85,720	$130,000	$—
2027	$22,500	$557,600	$150,000	$720	$150,000	$162,700
2028	$350,000	$425,000	$375,000	$719	$51,574	$325,000
2029	$70,000	$—	$—	$35,720	$300,000	$—

Entergy Louisiana Debt Issuance

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana expects to use the proceeds, together with other funds, to repay on or prior to maturity its $190 million of 3.78% Series mortgage bonds due April 2025, to repay on or prior to maturity its $110 million of 3.78% Series mortgage bonds due April 2025, for capital expenditures, and for general corporate purposes.

Securitization Bonds

Entergy New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount was not due until June 2027, Entergy New Orleans Storm Recovery Funding made a principal payment on the bonds in the amount of $6.2 million in 2024, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds). Although the principal amount was not due until November 2023, Entergy Texas Restoration Funding made principal payments on the bonds in the amount of $54.3 million in 2022, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Laura, Hurricane Delta, and Winter Storm Uri

In January 2022 the PUCT authorized the issuance of securitization bonds to recover $242.9 million of Entergy Texas’s Hurricane Laura, Hurricane Delta, and Winter Storm Uri restoration costs, plus carrying costs, plus approximately $13.3 million relating to a system restoration regulatory asset related to Hurricane Harvey, plus up-front qualified costs. In April 2022, Entergy Texas Restoration Funding II, LLC, a company wholly-owned and consolidated by Entergy Texas, issued $290.85 million of senior secured system restoration bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured System Restoration Bonds:
Tranche A-1 (3.051%) due December 2028	$100,000
Tranche A-2 (3.697%) due December 2036	190,850
Total senior secured system restoration bonds	$290,850

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next three years in the amounts of $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1, after which Tranche A-1 will be fully repaid. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with payments of $6.6 million in 2027, $20.5 million in 2028, and $21.2 million in 2029.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million.  The initial term of the leases expired in July 2015.  System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value.  In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy.

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.  As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance.  The lease payments are recognized as principal and interest payments on the debt balance.

As of December 31, 2024, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:

	Amount
	(In Thousands)
2025	$17,188
2026	17,188
2027	17,188
2028	17,188
2029	17,188
Years thereafter	120,312
Total	206,252
Less: Amount representing interest	172,049
Present value of net minimum lease payments	$34,203

System Energy [Member]

Long-Term Debt [Text Block]

LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy as of December 31, 2024 and 2023 consisted of:

Type of Debt and Maturity	Weighted-Average Interest Rate December 31, 2024	Interest Rate Ranges at December 31,		Outstanding at  December 31,
		2024	2023	2024	2023
				(In Thousands)
Mortgage Bonds
2024-2028	3.54%	1.50% - 6.00%	0.95% - 6.00%	$4,268,000	$6,143,000
2029-2033	3.62%	1.60% - 6.41%	1.60% - 5.30%	4,250,000	4,150,000
2034-2044	4.66%	3.10% - 6.54%	3.10% - 5.00%	3,457,000	1,507,000
2045-2066	4.48%	2.65% - 5.85%	2.65% - 5.80%	9,685,000	7,935,000
Governmental Bonds (a)
2024-2044	2.43%	2.0% - 2.5%	2.0% - 2.5%	282,375	282,375
Securitization Bonds
2024-2036	3.64%	3.051% - 3.697%	2.67% - 3.697%	242,424	267,003
Variable Interest Entities Notes Payable (Note 4)
2024-2029	3.67%	1.84% - 5.94%	1.84% - 5.94%	390,000	320,000
Entergy Corporation Senior Notes
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy Corporation Junior Subordinated Debentures due December 2054 (b)	n/a	7.125%	—	1,200,000	—
Entergy New Orleans Unsecured Term Loan due June 2024	n/a	—	6.25%	—	85,000
Vermont Yankee Credit Facility (Note 4)	n/a	—	6.61%	—	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	6.28%	6.10%	22,500	70,200
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	6.33%	6.17%	18,700	46,600
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	6.32%	6.07%	18,900	29,500
System Energy VIE Credit Facility (Note 4)	n/a	6.27%	5.91%	72,700	21,500
Long-term DOE Obligation (c)	—	—	—	216,016	205,151
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,203	34,260
Unamortized Premium and Discount - Net				(17,575)	(11,638)
Unamortized Debt Issuance Costs				(204,010)	(171,475)
Other				5,362	5,420
Total Long-Term Debt				27,991,595	25,107,896
Less Amount Due Within One Year				1,378,090	2,099,057
Long-Term Debt Excluding Amount Due Within One Year				$26,613,505	$23,008,839
Fair Value of Long-Term Debt				$25,181,802	$22,489,174

(a)Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds.

(b)Entergy Corporation will pay interest at an annual rate of 7.125% through November 2029. Commencing on December 1, 2029, the annual rate will equal the five-year treasury rate as of the most recent reset interest determination date plus 2.67%, which interest resets will occur on each five-year anniversary of December 1 after December 1, 2029.

(c)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Amount
	(In Thousands)
2025	$1,379,140
2026	$2,375,720
2027	$1,043,520
2028	$2,177,293
2029	$405,720

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through January 2027. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2025. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2025.

Long-term debt for the Registrant Subsidiaries as of December 31, 2024 and 2023 consisted of:

	2024	2023
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.70% Series due June 2024	$—	$375,000
3.5% Series due April 2026	600,000	600,000
4.00% Series due June 2028	350,000	350,000
5.15% Series due January 2033	425,000	425,000
5.30% Series due September 2033	300,000	300,000
5.45% Series due June 2034	400,000	—
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	550,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
5.75% Series due June 2054	400,000	—
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	4,760,000	4,335,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
1.84% Series N due July 2026	90,000	90,000
5.54% Series O due May 2029	70,000	—
Credit Facility due June 2027, weighted-average rate 6.28%	22,500	70,200
Total variable interest entity notes payable and credit facility	182,500	160,200
Other:
Long-term DOE Obligation (b)	216,016	205,151
Unamortized Premium and Discount – Net	3,620	7,508
Unamortized Debt Issuance Costs	(41,552)	(36,711)
Other	1,910	1,932
Total Long-Term Debt	5,122,494	4,673,080
Less Amount Due Within One Year	—	375,000
Long-Term Debt Excluding Amount Due Within One Year	$5,122,494	$4,298,080
Fair Value of Long-Term Debt	$4,546,643	$4,166,941

	2024	2023
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
0.95% Series due October 2024	$—	$1,000,000
5.40% Series due November 2024	—	400,000
3.78% Series due April 2025	110,000	110,000
3.78% Series due April 2025	190,000	190,000
4.44% Series due January 2026	250,000	250,000
2.40% Series due October 2026	400,000	400,000
3.12% Series due September 2027	450,000	450,000
3.25% Series due April 2028	425,000	425,000
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.00% Series due March 2033	750,000	750,000
5.35% Series due March 2034	500,000	—
5.15% Series due September 2034	700,000	—
3.10% Series due June 2041	500,000	500,000
5% Series due July 2044	170,000	170,000
4.95% Series due January 2045	450,000	450,000
4.20% Series due September 2048	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	500,000
5.70% Series due March 2054	700,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	9,565,000	9,065,000
Governmental Bonds (a):
2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
5.94% Series J due September 2026	70,000	70,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2027, weighted-average rate 6.33%	18,700	46,600
Credit Facility due June 2027, weighted-average rate 6.32%	18,900	29,500
Total variable interest entity notes payable and credit facilities	177,600	216,100
Other:
Unamortized Premium and Discount - Net	(9,820)	(6,478)
Unamortized Debt Issuance Costs	(68,459)	(56,101)
Other	3,452	3,488
Total Long-Term Debt	9,866,453	9,420,689
Less Amount Due Within One Year	300,000	1,400,000
Long-Term Debt Excluding Amount Due Within One Year	$9,566,453	$8,020,689
Fair Value of Long-Term Debt	$8,751,266	$8,414,512

	2024	2023
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.75% Series due July 2024	$—	$100,000
3.25% Series due December 2027	150,000	150,000
2.85% Series due June 2028	375,000	375,000
5.0% Series due September 2033	300,000	300,000
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
5.85% Series due June 2054	300,000	—
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,445,000	2,245,000
Other:
Unamortized Premium and Discount – Net	5,283	5,546
Unamortized Debt Issuance Costs	(23,210)	(21,036)
Total Long-Term Debt	2,427,073	2,229,510
Less Amount Due Within One Year	—	100,000
Long-Term Debt Excluding Amount Due Within One Year	$2,427,073	$2,129,510
Fair Value of Long-Term Debt	$2,116,246	$1,969,334

	2024	2023
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.00% Series due March 2025	$78,000	$78,000
4% Series due June 2026	85,000	85,000
6.25% Series due June 2029	35,000	—
6.41% Series due June 2031	65,000	—
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
6.54% Series due June 2034	50,000	—
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	735,000	585,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	—	6,245
Total securitization bonds	—	6,245
Other:
6.25% Unsecured Term Loan due June 2024	—	85,000
Payable to associated company due November 2035	7,004	8,279
Unamortized Premium and Discount – Net	—	(6)
Unamortized Debt Issuance Costs	(6,537)	(7,068)
Total Long-Term Debt	735,467	677,450
Less Amount Due Within One Year	79,140	86,275
Long-Term Debt Excluding Amount Due Within One Year	$656,327	$591,175
Fair Value of Long-Term Debt	$697,466	$602,716

	2024	2023
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.50% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	325,000
5.80% Series due September 2053	350,000	350,000
5.55% Series due September 2054	350,000	—
Total mortgage bonds	3,330,000	2,980,000
Securitization Bonds:
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	51,574	69,908
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	190,850
Total securitization bonds	242,424	260,758
Other:
Unamortized Premium and Discount - Net	7,624	10,199
Unamortized Debt Issuance Costs	(27,605)	(25,865)
Total Long-Term Debt	3,552,443	3,225,092
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$3,552,443	$3,225,092
Fair Value of Long-Term Debt	$3,176,230	$2,936,130

	2024	2023
	(In Thousands)
System Energy
Mortgage Bonds:
2.14% Series due December 2025	$200,000	$200,000
6.00% Series due April 2028	325,000	325,000
5.30% Series due December 2034	300,000	—
Total mortgage bonds	825,000	525,000
Governmental Bonds (a):
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	83,695
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2027, weighted-average rate 6.27%	72,700	21,500
Total variable interest entity notes payable and credit facility	162,700	111,500
Other:
Grand Gulf Sale-Leaseback Obligation	34,203	34,260
Unamortized Premium and Discount – Net	(8,698)	(10,451)
Unamortized Debt Issuance Costs	(7,164)	(5,545)
Total Long-Term Debt	1,089,736	738,459
Less Amount Due Within One Year	200,090	57
Long-Term Debt Excluding Amount Due Within One Year	$889,646	$738,402
Fair Value of Long-Term Debt	$1,063,946	$696,168

(a)Consists of pollution control revenue bonds.

(b)Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service.  The contracts include a one-time fee for generation prior to April 7, 1983.  Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt.

(c)The debt is secured by a series of collateral mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2024, for the next five years are as follows:

	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2025	$—	$300,000	$—	$79,140	$—	$200,000
2026	$690,000	$720,000	$—	$85,720	$130,000	$—
2027	$22,500	$557,600	$150,000	$720	$150,000	$162,700
2028	$350,000	$425,000	$375,000	$719	$51,574	$325,000
2029	$70,000	$—	$—	$35,720	$300,000	$—

Entergy Louisiana Debt Issuance

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana expects to use the proceeds, together with other funds, to repay on or prior to maturity its $190 million of 3.78% Series mortgage bonds due April 2025, to repay on or prior to maturity its $110 million of 3.78% Series mortgage bonds due April 2025, for capital expenditures, and for general corporate purposes.

Securitization Bonds

Entergy New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount was not due until June 2027, Entergy New Orleans Storm Recovery Funding made a principal payment on the bonds in the amount of $6.2 million in 2024, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds). Although the principal amount was not due until November 2023, Entergy Texas Restoration Funding made principal payments on the bonds in the amount of $54.3 million in 2022, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Laura, Hurricane Delta, and Winter Storm Uri

In January 2022 the PUCT authorized the issuance of securitization bonds to recover $242.9 million of Entergy Texas’s Hurricane Laura, Hurricane Delta, and Winter Storm Uri restoration costs, plus carrying costs, plus approximately $13.3 million relating to a system restoration regulatory asset related to Hurricane Harvey, plus up-front qualified costs. In April 2022, Entergy Texas Restoration Funding II, LLC, a company wholly-owned and consolidated by Entergy Texas, issued $290.85 million of senior secured system restoration bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured System Restoration Bonds:
Tranche A-1 (3.051%) due December 2028	$100,000
Tranche A-2 (3.697%) due December 2036	190,850
Total senior secured system restoration bonds	$290,850

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next three years in the amounts of $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1, after which Tranche A-1 will be fully repaid. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with payments of $6.6 million in 2027, $20.5 million in 2028, and $21.2 million in 2029.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million.  The initial term of the leases expired in July 2015.  System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value.  In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy.

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.  As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance.  The lease payments are recognized as principal and interest payments on the debt balance.

As of December 31, 2024, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:

	Amount
	(In Thousands)
2025	$17,188
2026	17,188
2027	17,188
2028	17,188
2029	17,188
Years thereafter	120,312
Total	206,252
Less: Amount representing interest	172,049
Present value of net minimum lease payments	$34,203