Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Text Block]

REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Entergy Corporation has in place a credit facility that has a borrowing capacity of $3 billion and expires in June 2029. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  As there were no borrowings under the facility for the three months ended March 31, 2025, the estimated interest rate as of March 31, 2025 that would have been applied

to outstanding borrowings under the facility was 5.92%. The following is a summary of the amounts outstanding and capacity available under the credit facility as of March 31, 2025:

Capacity	Borrowings	Letters of Credit	Capacity Available
(In Millions)
$3,000	$—	$4	$2,996

Entergy Corporation’s credit facility includes a covenant requiring Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur.

Entergy Corporation has a commercial paper program with a Board-approved program limit of $2 billion.  As of March 31, 2025, Entergy Corporation had $1,330 million of commercial paper outstanding. The weighted-average interest rate for the three months ended March 31, 2025 was 4.66%.

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of March 31, 2025 as follows:

Company	Expiration Date	Amount of Facility	Interest Rate (a)	Amount Drawn as of March 31, 2025	Letters of Credit Outstanding as of March 31, 2025
Entergy Arkansas	April 2026	$25 million (b)	6.27%	$—	$—
Entergy Arkansas	June 2029	$300 million (c)	5.55%	$—	$—
Entergy Louisiana	June 2029	$400 million (c)	5.67%	$—	$—
Entergy Mississippi	June 2029	$300 million (c)	5.55%	$—	$—
Entergy New Orleans	June 2027	$25 million (c)	6.05%	$—	$—
Entergy Texas	June 2029	$300 million (c)	5.67%	$—	$1.1 million

(a)The interest rate is the estimated interest rate as of March 31, 2025 that would have been applied to outstanding borrowings under the facility.

(b)Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option.

(c)The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $5 million for Entergy Mississippi; $10 million for Entergy New Orleans; and $25 million for Entergy Texas.

The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization.  Each Registrant Subsidiary is in compliance with this covenant.

In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each has an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO and for other purposes. The following is a summary of the uncommitted standby letter of credit facilities as of March 31, 2025:

Company	Amount of Uncommitted Facility	Letter of Credit Fee	Letters of Credit Issued as of March 31, 2025 (a) (b)
Entergy Arkansas	$25 million	0.78%	$17.1 million
Entergy Louisiana	$125 million	0.78%	$56.2 million
Entergy Mississippi	$65 million	0.78%	$32.6 million
Entergy New Orleans	$1 million	1.625%	$0.5 million
Entergy Texas	$150 million	1.250%	$105.4 million

(a)As of March 31, 2025, no letters of credit were posted with MISO to cover financial transmission rights at the Utility operating companies.

(b)As of March 31, 2025, the letters of credit issued for Entergy Mississippi include $31.3 million in MISO letters of credit and $1.3 million in non-MISO letters of credit outstanding under this facility.

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have FERC-authorized short-term borrowing limits effective through January 2027. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy system money pool and from other internal short-term borrowing arrangements.  The money pool is an intercompany cash management program that makes possible intercompany borrowing and lending arrangements, and the money pool and the other internal borrowing arrangements are designed to reduce the Registrant Subsidiaries’ dependence on external short-term borrowings.  Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of March 31, 2025 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries:

	Authorized	Borrowings
	(In Millions)
Entergy Arkansas	$250	$—
Entergy Louisiana	$450	$—
Entergy Mississippi	$200	$—
Entergy New Orleans	$150	$—
Entergy Texas	$200	$—
System Energy	$200	$—

Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs).  To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of March 31, 2025:

Company	Expiration Date	Amount of Facility	Weighted-  Average Interest  Rate on  Borrowings (a)	Amount Outstanding as of March 31, 2025
		(Dollars in Millions)
Entergy Arkansas VIE	June 2027	$80	5.44%	$5.4
Entergy Louisiana River Bend VIE	June 2027	$105	5.43%	$72.3
Entergy Louisiana Waterford VIE	June 2027	$105	5.43%	$65.3
System Energy VIE	June 2027	$120	5.43%	$58.9

(a)Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility.

The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs.  Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant.

The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of March 31, 2025 as follows:

Company	Description	Amount
Entergy Arkansas VIE	1.84% Series N due July 2026	$90 million
Entergy Arkansas VIE	5.54% Series O due May 2029	$70 million
Entergy Louisiana River Bend VIE	2.51% Series V due June 2027	$70 million
Entergy Louisiana Waterford VIE	5.94% Series J due September 2026	$70 million
System Energy VIE	2.05% Series K due September 2027	$90 million

In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

As of March 31, 2025, Entergy Arkansas, Entergy Louisiana, and System Energy each has obtained financing authorization from the FERC that extends through January 2027 for issuances by its nuclear fuel company VIEs.

Debt Issuances and Retirements

(Entergy Louisiana)

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana used the proceeds, together with other funds: (1) to repay, prior to maturity, its $190 million of

3.78% Series mortgage bonds due April 2025; (2) to repay, prior to maturity, its $110 million of 3.78% Series mortgage bonds due April 2025; (3) for capital expenditures; and (4) for general corporate purposes.

(Entergy Mississippi)

In March 2025, Entergy Mississippi issued $600 million of 5.80% Series mortgage bonds due April 2055. Entergy Mississippi expects to use the proceeds, together with other funds, to finance a portion of the construction of the Delta Blues Advanced Power Station, the Delta Solar facility, and the Penton Solar facility, and for general corporate purposes.

(Entergy New Orleans)

In February 2025, Entergy New Orleans entered into a term loan credit agreement providing a $80 million unsecured term loan due March 2026. The term loan bears interest at a variable interest rate based on an adjusted term Secured Overnight Financing Rate plus the applicable adjustment. The rate set as of March 31, 2025 was 5.77%. Entergy New Orleans received the funds in March 2025 and used the proceeds to repay, at maturity, its $78 million of 3.00% Series mortgage bonds due March 2025 and for general corporate purposes.

(Entergy Texas)

In February 2025, Entergy Texas issued $500 million of 5.25% Series mortgage bonds due April 2035. Entergy Texas expects to use the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and the Lone Star Power Station, and for general corporate purposes.

Fair Value

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of March 31, 2025 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$29,594,991	$26,976,295
Entergy Arkansas	$5,107,853	$4,538,510
Entergy Louisiana	$10,405,643	$9,371,023
Entergy Mississippi	$3,020,618	$2,712,650
Entergy New Orleans	$737,355	$697,047
Entergy Texas	$4,047,376	$3,723,403
System Energy	$1,076,797	$1,063,300

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of December 31, 2024 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$27,991,595	$25,181,802
Entergy Arkansas	$5,122,494	$4,546,643
Entergy Louisiana	$9,866,453	$8,751,266
Entergy Mississippi	$2,427,073	$2,116,246
Entergy New Orleans	$735,467	$697,466
Entergy Texas	$3,552,443	$3,176,230
System Energy	$1,089,736	$1,063,946

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

Entergy Arkansas [Member]

Debt Disclosure [Text Block]

REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Entergy Corporation has in place a credit facility that has a borrowing capacity of $3 billion and expires in June 2029. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  As there were no borrowings under the facility for the three months ended March 31, 2025, the estimated interest rate as of March 31, 2025 that would have been applied

to outstanding borrowings under the facility was 5.92%. The following is a summary of the amounts outstanding and capacity available under the credit facility as of March 31, 2025:

Capacity	Borrowings	Letters of Credit	Capacity Available
(In Millions)
$3,000	$—	$4	$2,996

Entergy Corporation’s credit facility includes a covenant requiring Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur.

Entergy Corporation has a commercial paper program with a Board-approved program limit of $2 billion.  As of March 31, 2025, Entergy Corporation had $1,330 million of commercial paper outstanding. The weighted-average interest rate for the three months ended March 31, 2025 was 4.66%.

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of March 31, 2025 as follows:

Company	Expiration Date	Amount of Facility	Interest Rate (a)	Amount Drawn as of March 31, 2025	Letters of Credit Outstanding as of March 31, 2025
Entergy Arkansas	April 2026	$25 million (b)	6.27%	$—	$—
Entergy Arkansas	June 2029	$300 million (c)	5.55%	$—	$—
Entergy Louisiana	June 2029	$400 million (c)	5.67%	$—	$—
Entergy Mississippi	June 2029	$300 million (c)	5.55%	$—	$—
Entergy New Orleans	June 2027	$25 million (c)	6.05%	$—	$—
Entergy Texas	June 2029	$300 million (c)	5.67%	$—	$1.1 million

(a)The interest rate is the estimated interest rate as of March 31, 2025 that would have been applied to outstanding borrowings under the facility.

(b)Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option.

(c)The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $5 million for Entergy Mississippi; $10 million for Entergy New Orleans; and $25 million for Entergy Texas.

The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization.  Each Registrant Subsidiary is in compliance with this covenant.

In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each has an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO and for other purposes. The following is a summary of the uncommitted standby letter of credit facilities as of March 31, 2025:

Company	Amount of Uncommitted Facility	Letter of Credit Fee	Letters of Credit Issued as of March 31, 2025 (a) (b)
Entergy Arkansas	$25 million	0.78%	$17.1 million
Entergy Louisiana	$125 million	0.78%	$56.2 million
Entergy Mississippi	$65 million	0.78%	$32.6 million
Entergy New Orleans	$1 million	1.625%	$0.5 million
Entergy Texas	$150 million	1.250%	$105.4 million

(a)As of March 31, 2025, no letters of credit were posted with MISO to cover financial transmission rights at the Utility operating companies.

(b)As of March 31, 2025, the letters of credit issued for Entergy Mississippi include $31.3 million in MISO letters of credit and $1.3 million in non-MISO letters of credit outstanding under this facility.

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have FERC-authorized short-term borrowing limits effective through January 2027. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy system money pool and from other internal short-term borrowing arrangements.  The money pool is an intercompany cash management program that makes possible intercompany borrowing and lending arrangements, and the money pool and the other internal borrowing arrangements are designed to reduce the Registrant Subsidiaries’ dependence on external short-term borrowings.  Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of March 31, 2025 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries:

	Authorized	Borrowings
	(In Millions)
Entergy Arkansas	$250	$—
Entergy Louisiana	$450	$—
Entergy Mississippi	$200	$—
Entergy New Orleans	$150	$—
Entergy Texas	$200	$—
System Energy	$200	$—

Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs).  To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of March 31, 2025:

Company	Expiration Date	Amount of Facility	Weighted-  Average Interest  Rate on  Borrowings (a)	Amount Outstanding as of March 31, 2025
		(Dollars in Millions)
Entergy Arkansas VIE	June 2027	$80	5.44%	$5.4
Entergy Louisiana River Bend VIE	June 2027	$105	5.43%	$72.3
Entergy Louisiana Waterford VIE	June 2027	$105	5.43%	$65.3
System Energy VIE	June 2027	$120	5.43%	$58.9

(a)Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility.

The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs.  Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant.

The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of March 31, 2025 as follows:

Company	Description	Amount
Entergy Arkansas VIE	1.84% Series N due July 2026	$90 million
Entergy Arkansas VIE	5.54% Series O due May 2029	$70 million
Entergy Louisiana River Bend VIE	2.51% Series V due June 2027	$70 million
Entergy Louisiana Waterford VIE	5.94% Series J due September 2026	$70 million
System Energy VIE	2.05% Series K due September 2027	$90 million

In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

As of March 31, 2025, Entergy Arkansas, Entergy Louisiana, and System Energy each has obtained financing authorization from the FERC that extends through January 2027 for issuances by its nuclear fuel company VIEs.

Debt Issuances and Retirements

(Entergy Louisiana)

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana used the proceeds, together with other funds: (1) to repay, prior to maturity, its $190 million of

3.78% Series mortgage bonds due April 2025; (2) to repay, prior to maturity, its $110 million of 3.78% Series mortgage bonds due April 2025; (3) for capital expenditures; and (4) for general corporate purposes.

(Entergy Mississippi)

In March 2025, Entergy Mississippi issued $600 million of 5.80% Series mortgage bonds due April 2055. Entergy Mississippi expects to use the proceeds, together with other funds, to finance a portion of the construction of the Delta Blues Advanced Power Station, the Delta Solar facility, and the Penton Solar facility, and for general corporate purposes.

(Entergy New Orleans)

In February 2025, Entergy New Orleans entered into a term loan credit agreement providing a $80 million unsecured term loan due March 2026. The term loan bears interest at a variable interest rate based on an adjusted term Secured Overnight Financing Rate plus the applicable adjustment. The rate set as of March 31, 2025 was 5.77%. Entergy New Orleans received the funds in March 2025 and used the proceeds to repay, at maturity, its $78 million of 3.00% Series mortgage bonds due March 2025 and for general corporate purposes.

(Entergy Texas)

In February 2025, Entergy Texas issued $500 million of 5.25% Series mortgage bonds due April 2035. Entergy Texas expects to use the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and the Lone Star Power Station, and for general corporate purposes.

Fair Value

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of March 31, 2025 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$29,594,991	$26,976,295
Entergy Arkansas	$5,107,853	$4,538,510
Entergy Louisiana	$10,405,643	$9,371,023
Entergy Mississippi	$3,020,618	$2,712,650
Entergy New Orleans	$737,355	$697,047
Entergy Texas	$4,047,376	$3,723,403
System Energy	$1,076,797	$1,063,300

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of December 31, 2024 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$27,991,595	$25,181,802
Entergy Arkansas	$5,122,494	$4,546,643
Entergy Louisiana	$9,866,453	$8,751,266
Entergy Mississippi	$2,427,073	$2,116,246
Entergy New Orleans	$735,467	$697,466
Entergy Texas	$3,552,443	$3,176,230
System Energy	$1,089,736	$1,063,946

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

Entergy Louisiana [Member]

Debt Disclosure [Text Block]

REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Entergy Corporation has in place a credit facility that has a borrowing capacity of $3 billion and expires in June 2029. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  As there were no borrowings under the facility for the three months ended March 31, 2025, the estimated interest rate as of March 31, 2025 that would have been applied

to outstanding borrowings under the facility was 5.92%. The following is a summary of the amounts outstanding and capacity available under the credit facility as of March 31, 2025:

Capacity	Borrowings	Letters of Credit	Capacity Available
(In Millions)
$3,000	$—	$4	$2,996

Entergy Corporation’s credit facility includes a covenant requiring Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur.

Entergy Corporation has a commercial paper program with a Board-approved program limit of $2 billion.  As of March 31, 2025, Entergy Corporation had $1,330 million of commercial paper outstanding. The weighted-average interest rate for the three months ended March 31, 2025 was 4.66%.

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of March 31, 2025 as follows:

Company	Expiration Date	Amount of Facility	Interest Rate (a)	Amount Drawn as of March 31, 2025	Letters of Credit Outstanding as of March 31, 2025
Entergy Arkansas	April 2026	$25 million (b)	6.27%	$—	$—
Entergy Arkansas	June 2029	$300 million (c)	5.55%	$—	$—
Entergy Louisiana	June 2029	$400 million (c)	5.67%	$—	$—
Entergy Mississippi	June 2029	$300 million (c)	5.55%	$—	$—
Entergy New Orleans	June 2027	$25 million (c)	6.05%	$—	$—
Entergy Texas	June 2029	$300 million (c)	5.67%	$—	$1.1 million

(a)The interest rate is the estimated interest rate as of March 31, 2025 that would have been applied to outstanding borrowings under the facility.

(b)Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option.

(c)The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $5 million for Entergy Mississippi; $10 million for Entergy New Orleans; and $25 million for Entergy Texas.

The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization.  Each Registrant Subsidiary is in compliance with this covenant.

In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each has an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO and for other purposes. The following is a summary of the uncommitted standby letter of credit facilities as of March 31, 2025:

Company	Amount of Uncommitted Facility	Letter of Credit Fee	Letters of Credit Issued as of March 31, 2025 (a) (b)
Entergy Arkansas	$25 million	0.78%	$17.1 million
Entergy Louisiana	$125 million	0.78%	$56.2 million
Entergy Mississippi	$65 million	0.78%	$32.6 million
Entergy New Orleans	$1 million	1.625%	$0.5 million
Entergy Texas	$150 million	1.250%	$105.4 million

(a)As of March 31, 2025, no letters of credit were posted with MISO to cover financial transmission rights at the Utility operating companies.

(b)As of March 31, 2025, the letters of credit issued for Entergy Mississippi include $31.3 million in MISO letters of credit and $1.3 million in non-MISO letters of credit outstanding under this facility.

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have FERC-authorized short-term borrowing limits effective through January 2027. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy system money pool and from other internal short-term borrowing arrangements.  The money pool is an intercompany cash management program that makes possible intercompany borrowing and lending arrangements, and the money pool and the other internal borrowing arrangements are designed to reduce the Registrant Subsidiaries’ dependence on external short-term borrowings.  Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of March 31, 2025 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries:

	Authorized	Borrowings
	(In Millions)
Entergy Arkansas	$250	$—
Entergy Louisiana	$450	$—
Entergy Mississippi	$200	$—
Entergy New Orleans	$150	$—
Entergy Texas	$200	$—
System Energy	$200	$—

Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs).  To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of March 31, 2025:

Company	Expiration Date	Amount of Facility	Weighted-  Average Interest  Rate on  Borrowings (a)	Amount Outstanding as of March 31, 2025
		(Dollars in Millions)
Entergy Arkansas VIE	June 2027	$80	5.44%	$5.4
Entergy Louisiana River Bend VIE	June 2027	$105	5.43%	$72.3
Entergy Louisiana Waterford VIE	June 2027	$105	5.43%	$65.3
System Energy VIE	June 2027	$120	5.43%	$58.9

(a)Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility.

The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs.  Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant.

The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of March 31, 2025 as follows:

Company	Description	Amount
Entergy Arkansas VIE	1.84% Series N due July 2026	$90 million
Entergy Arkansas VIE	5.54% Series O due May 2029	$70 million
Entergy Louisiana River Bend VIE	2.51% Series V due June 2027	$70 million
Entergy Louisiana Waterford VIE	5.94% Series J due September 2026	$70 million
System Energy VIE	2.05% Series K due September 2027	$90 million

In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

As of March 31, 2025, Entergy Arkansas, Entergy Louisiana, and System Energy each has obtained financing authorization from the FERC that extends through January 2027 for issuances by its nuclear fuel company VIEs.

Debt Issuances and Retirements

(Entergy Louisiana)

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana used the proceeds, together with other funds: (1) to repay, prior to maturity, its $190 million of

3.78% Series mortgage bonds due April 2025; (2) to repay, prior to maturity, its $110 million of 3.78% Series mortgage bonds due April 2025; (3) for capital expenditures; and (4) for general corporate purposes.

(Entergy Mississippi)

In March 2025, Entergy Mississippi issued $600 million of 5.80% Series mortgage bonds due April 2055. Entergy Mississippi expects to use the proceeds, together with other funds, to finance a portion of the construction of the Delta Blues Advanced Power Station, the Delta Solar facility, and the Penton Solar facility, and for general corporate purposes.

(Entergy New Orleans)

In February 2025, Entergy New Orleans entered into a term loan credit agreement providing a $80 million unsecured term loan due March 2026. The term loan bears interest at a variable interest rate based on an adjusted term Secured Overnight Financing Rate plus the applicable adjustment. The rate set as of March 31, 2025 was 5.77%. Entergy New Orleans received the funds in March 2025 and used the proceeds to repay, at maturity, its $78 million of 3.00% Series mortgage bonds due March 2025 and for general corporate purposes.

(Entergy Texas)

In February 2025, Entergy Texas issued $500 million of 5.25% Series mortgage bonds due April 2035. Entergy Texas expects to use the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and the Lone Star Power Station, and for general corporate purposes.

Fair Value

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of March 31, 2025 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$29,594,991	$26,976,295
Entergy Arkansas	$5,107,853	$4,538,510
Entergy Louisiana	$10,405,643	$9,371,023
Entergy Mississippi	$3,020,618	$2,712,650
Entergy New Orleans	$737,355	$697,047
Entergy Texas	$4,047,376	$3,723,403
System Energy	$1,076,797	$1,063,300

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of December 31, 2024 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$27,991,595	$25,181,802
Entergy Arkansas	$5,122,494	$4,546,643
Entergy Louisiana	$9,866,453	$8,751,266
Entergy Mississippi	$2,427,073	$2,116,246
Entergy New Orleans	$735,467	$697,466
Entergy Texas	$3,552,443	$3,176,230
System Energy	$1,089,736	$1,063,946

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

Entergy Mississippi [Member]

Debt Disclosure [Text Block]

REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Entergy Corporation has in place a credit facility that has a borrowing capacity of $3 billion and expires in June 2029. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  As there were no borrowings under the facility for the three months ended March 31, 2025, the estimated interest rate as of March 31, 2025 that would have been applied

to outstanding borrowings under the facility was 5.92%. The following is a summary of the amounts outstanding and capacity available under the credit facility as of March 31, 2025:

Capacity	Borrowings	Letters of Credit	Capacity Available
(In Millions)
$3,000	$—	$4	$2,996

Entergy Corporation’s credit facility includes a covenant requiring Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur.

Entergy Corporation has a commercial paper program with a Board-approved program limit of $2 billion.  As of March 31, 2025, Entergy Corporation had $1,330 million of commercial paper outstanding. The weighted-average interest rate for the three months ended March 31, 2025 was 4.66%.

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of March 31, 2025 as follows:

Company	Expiration Date	Amount of Facility	Interest Rate (a)	Amount Drawn as of March 31, 2025	Letters of Credit Outstanding as of March 31, 2025
Entergy Arkansas	April 2026	$25 million (b)	6.27%	$—	$—
Entergy Arkansas	June 2029	$300 million (c)	5.55%	$—	$—
Entergy Louisiana	June 2029	$400 million (c)	5.67%	$—	$—
Entergy Mississippi	June 2029	$300 million (c)	5.55%	$—	$—
Entergy New Orleans	June 2027	$25 million (c)	6.05%	$—	$—
Entergy Texas	June 2029	$300 million (c)	5.67%	$—	$1.1 million

(a)The interest rate is the estimated interest rate as of March 31, 2025 that would have been applied to outstanding borrowings under the facility.

(b)Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option.

(c)The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $5 million for Entergy Mississippi; $10 million for Entergy New Orleans; and $25 million for Entergy Texas.

The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization.  Each Registrant Subsidiary is in compliance with this covenant.

In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each has an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO and for other purposes. The following is a summary of the uncommitted standby letter of credit facilities as of March 31, 2025:

Company	Amount of Uncommitted Facility	Letter of Credit Fee	Letters of Credit Issued as of March 31, 2025 (a) (b)
Entergy Arkansas	$25 million	0.78%	$17.1 million
Entergy Louisiana	$125 million	0.78%	$56.2 million
Entergy Mississippi	$65 million	0.78%	$32.6 million
Entergy New Orleans	$1 million	1.625%	$0.5 million
Entergy Texas	$150 million	1.250%	$105.4 million

(a)As of March 31, 2025, no letters of credit were posted with MISO to cover financial transmission rights at the Utility operating companies.

(b)As of March 31, 2025, the letters of credit issued for Entergy Mississippi include $31.3 million in MISO letters of credit and $1.3 million in non-MISO letters of credit outstanding under this facility.

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have FERC-authorized short-term borrowing limits effective through January 2027. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy system money pool and from other internal short-term borrowing arrangements.  The money pool is an intercompany cash management program that makes possible intercompany borrowing and lending arrangements, and the money pool and the other internal borrowing arrangements are designed to reduce the Registrant Subsidiaries’ dependence on external short-term borrowings.  Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of March 31, 2025 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries:

	Authorized	Borrowings
	(In Millions)
Entergy Arkansas	$250	$—
Entergy Louisiana	$450	$—
Entergy Mississippi	$200	$—
Entergy New Orleans	$150	$—
Entergy Texas	$200	$—
System Energy	$200	$—

Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs).  To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of March 31, 2025:

Company	Expiration Date	Amount of Facility	Weighted-  Average Interest  Rate on  Borrowings (a)	Amount Outstanding as of March 31, 2025
		(Dollars in Millions)
Entergy Arkansas VIE	June 2027	$80	5.44%	$5.4
Entergy Louisiana River Bend VIE	June 2027	$105	5.43%	$72.3
Entergy Louisiana Waterford VIE	June 2027	$105	5.43%	$65.3
System Energy VIE	June 2027	$120	5.43%	$58.9

(a)Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility.

The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs.  Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant.

The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of March 31, 2025 as follows:

Company	Description	Amount
Entergy Arkansas VIE	1.84% Series N due July 2026	$90 million
Entergy Arkansas VIE	5.54% Series O due May 2029	$70 million
Entergy Louisiana River Bend VIE	2.51% Series V due June 2027	$70 million
Entergy Louisiana Waterford VIE	5.94% Series J due September 2026	$70 million
System Energy VIE	2.05% Series K due September 2027	$90 million

In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

As of March 31, 2025, Entergy Arkansas, Entergy Louisiana, and System Energy each has obtained financing authorization from the FERC that extends through January 2027 for issuances by its nuclear fuel company VIEs.

Debt Issuances and Retirements

(Entergy Louisiana)

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana used the proceeds, together with other funds: (1) to repay, prior to maturity, its $190 million of

3.78% Series mortgage bonds due April 2025; (2) to repay, prior to maturity, its $110 million of 3.78% Series mortgage bonds due April 2025; (3) for capital expenditures; and (4) for general corporate purposes.

(Entergy Mississippi)

In March 2025, Entergy Mississippi issued $600 million of 5.80% Series mortgage bonds due April 2055. Entergy Mississippi expects to use the proceeds, together with other funds, to finance a portion of the construction of the Delta Blues Advanced Power Station, the Delta Solar facility, and the Penton Solar facility, and for general corporate purposes.

(Entergy New Orleans)

In February 2025, Entergy New Orleans entered into a term loan credit agreement providing a $80 million unsecured term loan due March 2026. The term loan bears interest at a variable interest rate based on an adjusted term Secured Overnight Financing Rate plus the applicable adjustment. The rate set as of March 31, 2025 was 5.77%. Entergy New Orleans received the funds in March 2025 and used the proceeds to repay, at maturity, its $78 million of 3.00% Series mortgage bonds due March 2025 and for general corporate purposes.

(Entergy Texas)

In February 2025, Entergy Texas issued $500 million of 5.25% Series mortgage bonds due April 2035. Entergy Texas expects to use the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and the Lone Star Power Station, and for general corporate purposes.

Fair Value

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of March 31, 2025 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$29,594,991	$26,976,295
Entergy Arkansas	$5,107,853	$4,538,510
Entergy Louisiana	$10,405,643	$9,371,023
Entergy Mississippi	$3,020,618	$2,712,650
Entergy New Orleans	$737,355	$697,047
Entergy Texas	$4,047,376	$3,723,403
System Energy	$1,076,797	$1,063,300

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of December 31, 2024 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$27,991,595	$25,181,802
Entergy Arkansas	$5,122,494	$4,546,643
Entergy Louisiana	$9,866,453	$8,751,266
Entergy Mississippi	$2,427,073	$2,116,246
Entergy New Orleans	$735,467	$697,466
Entergy Texas	$3,552,443	$3,176,230
System Energy	$1,089,736	$1,063,946

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

Entergy New Orleans [Member]

Debt Disclosure [Text Block]

REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Entergy Corporation has in place a credit facility that has a borrowing capacity of $3 billion and expires in June 2029. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  As there were no borrowings under the facility for the three months ended March 31, 2025, the estimated interest rate as of March 31, 2025 that would have been applied

to outstanding borrowings under the facility was 5.92%. The following is a summary of the amounts outstanding and capacity available under the credit facility as of March 31, 2025:

Capacity	Borrowings	Letters of Credit	Capacity Available
(In Millions)
$3,000	$—	$4	$2,996

Entergy Corporation’s credit facility includes a covenant requiring Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur.

Entergy Corporation has a commercial paper program with a Board-approved program limit of $2 billion.  As of March 31, 2025, Entergy Corporation had $1,330 million of commercial paper outstanding. The weighted-average interest rate for the three months ended March 31, 2025 was 4.66%.

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of March 31, 2025 as follows:

Company	Expiration Date	Amount of Facility	Interest Rate (a)	Amount Drawn as of March 31, 2025	Letters of Credit Outstanding as of March 31, 2025
Entergy Arkansas	April 2026	$25 million (b)	6.27%	$—	$—
Entergy Arkansas	June 2029	$300 million (c)	5.55%	$—	$—
Entergy Louisiana	June 2029	$400 million (c)	5.67%	$—	$—
Entergy Mississippi	June 2029	$300 million (c)	5.55%	$—	$—
Entergy New Orleans	June 2027	$25 million (c)	6.05%	$—	$—
Entergy Texas	June 2029	$300 million (c)	5.67%	$—	$1.1 million

(a)The interest rate is the estimated interest rate as of March 31, 2025 that would have been applied to outstanding borrowings under the facility.

(b)Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option.

(c)The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $5 million for Entergy Mississippi; $10 million for Entergy New Orleans; and $25 million for Entergy Texas.

The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization.  Each Registrant Subsidiary is in compliance with this covenant.

In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each has an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO and for other purposes. The following is a summary of the uncommitted standby letter of credit facilities as of March 31, 2025:

Company	Amount of Uncommitted Facility	Letter of Credit Fee	Letters of Credit Issued as of March 31, 2025 (a) (b)
Entergy Arkansas	$25 million	0.78%	$17.1 million
Entergy Louisiana	$125 million	0.78%	$56.2 million
Entergy Mississippi	$65 million	0.78%	$32.6 million
Entergy New Orleans	$1 million	1.625%	$0.5 million
Entergy Texas	$150 million	1.250%	$105.4 million

(a)As of March 31, 2025, no letters of credit were posted with MISO to cover financial transmission rights at the Utility operating companies.

(b)As of March 31, 2025, the letters of credit issued for Entergy Mississippi include $31.3 million in MISO letters of credit and $1.3 million in non-MISO letters of credit outstanding under this facility.

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have FERC-authorized short-term borrowing limits effective through January 2027. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy system money pool and from other internal short-term borrowing arrangements.  The money pool is an intercompany cash management program that makes possible intercompany borrowing and lending arrangements, and the money pool and the other internal borrowing arrangements are designed to reduce the Registrant Subsidiaries’ dependence on external short-term borrowings.  Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of March 31, 2025 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries:

	Authorized	Borrowings
	(In Millions)
Entergy Arkansas	$250	$—
Entergy Louisiana	$450	$—
Entergy Mississippi	$200	$—
Entergy New Orleans	$150	$—
Entergy Texas	$200	$—
System Energy	$200	$—

Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs).  To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of March 31, 2025:

Company	Expiration Date	Amount of Facility	Weighted-  Average Interest  Rate on  Borrowings (a)	Amount Outstanding as of March 31, 2025
		(Dollars in Millions)
Entergy Arkansas VIE	June 2027	$80	5.44%	$5.4
Entergy Louisiana River Bend VIE	June 2027	$105	5.43%	$72.3
Entergy Louisiana Waterford VIE	June 2027	$105	5.43%	$65.3
System Energy VIE	June 2027	$120	5.43%	$58.9

(a)Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility.

The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs.  Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant.

The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of March 31, 2025 as follows:

Company	Description	Amount
Entergy Arkansas VIE	1.84% Series N due July 2026	$90 million
Entergy Arkansas VIE	5.54% Series O due May 2029	$70 million
Entergy Louisiana River Bend VIE	2.51% Series V due June 2027	$70 million
Entergy Louisiana Waterford VIE	5.94% Series J due September 2026	$70 million
System Energy VIE	2.05% Series K due September 2027	$90 million

In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

As of March 31, 2025, Entergy Arkansas, Entergy Louisiana, and System Energy each has obtained financing authorization from the FERC that extends through January 2027 for issuances by its nuclear fuel company VIEs.

Debt Issuances and Retirements

(Entergy Louisiana)

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana used the proceeds, together with other funds: (1) to repay, prior to maturity, its $190 million of

3.78% Series mortgage bonds due April 2025; (2) to repay, prior to maturity, its $110 million of 3.78% Series mortgage bonds due April 2025; (3) for capital expenditures; and (4) for general corporate purposes.

(Entergy Mississippi)

In March 2025, Entergy Mississippi issued $600 million of 5.80% Series mortgage bonds due April 2055. Entergy Mississippi expects to use the proceeds, together with other funds, to finance a portion of the construction of the Delta Blues Advanced Power Station, the Delta Solar facility, and the Penton Solar facility, and for general corporate purposes.

(Entergy New Orleans)

In February 2025, Entergy New Orleans entered into a term loan credit agreement providing a $80 million unsecured term loan due March 2026. The term loan bears interest at a variable interest rate based on an adjusted term Secured Overnight Financing Rate plus the applicable adjustment. The rate set as of March 31, 2025 was 5.77%. Entergy New Orleans received the funds in March 2025 and used the proceeds to repay, at maturity, its $78 million of 3.00% Series mortgage bonds due March 2025 and for general corporate purposes.

(Entergy Texas)

In February 2025, Entergy Texas issued $500 million of 5.25% Series mortgage bonds due April 2035. Entergy Texas expects to use the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and the Lone Star Power Station, and for general corporate purposes.

Fair Value

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of March 31, 2025 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$29,594,991	$26,976,295
Entergy Arkansas	$5,107,853	$4,538,510
Entergy Louisiana	$10,405,643	$9,371,023
Entergy Mississippi	$3,020,618	$2,712,650
Entergy New Orleans	$737,355	$697,047
Entergy Texas	$4,047,376	$3,723,403
System Energy	$1,076,797	$1,063,300

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of December 31, 2024 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$27,991,595	$25,181,802
Entergy Arkansas	$5,122,494	$4,546,643
Entergy Louisiana	$9,866,453	$8,751,266
Entergy Mississippi	$2,427,073	$2,116,246
Entergy New Orleans	$735,467	$697,466
Entergy Texas	$3,552,443	$3,176,230
System Energy	$1,089,736	$1,063,946

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

Entergy Texas [Member]

Debt Disclosure [Text Block]

REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Entergy Corporation has in place a credit facility that has a borrowing capacity of $3 billion and expires in June 2029. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  As there were no borrowings under the facility for the three months ended March 31, 2025, the estimated interest rate as of March 31, 2025 that would have been applied

to outstanding borrowings under the facility was 5.92%. The following is a summary of the amounts outstanding and capacity available under the credit facility as of March 31, 2025:

Capacity	Borrowings	Letters of Credit	Capacity Available
(In Millions)
$3,000	$—	$4	$2,996

Entergy Corporation’s credit facility includes a covenant requiring Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur.

Entergy Corporation has a commercial paper program with a Board-approved program limit of $2 billion.  As of March 31, 2025, Entergy Corporation had $1,330 million of commercial paper outstanding. The weighted-average interest rate for the three months ended March 31, 2025 was 4.66%.

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of March 31, 2025 as follows:

Company	Expiration Date	Amount of Facility	Interest Rate (a)	Amount Drawn as of March 31, 2025	Letters of Credit Outstanding as of March 31, 2025
Entergy Arkansas	April 2026	$25 million (b)	6.27%	$—	$—
Entergy Arkansas	June 2029	$300 million (c)	5.55%	$—	$—
Entergy Louisiana	June 2029	$400 million (c)	5.67%	$—	$—
Entergy Mississippi	June 2029	$300 million (c)	5.55%	$—	$—
Entergy New Orleans	June 2027	$25 million (c)	6.05%	$—	$—
Entergy Texas	June 2029	$300 million (c)	5.67%	$—	$1.1 million

(a)The interest rate is the estimated interest rate as of March 31, 2025 that would have been applied to outstanding borrowings under the facility.

(b)Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option.

(c)The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $5 million for Entergy Mississippi; $10 million for Entergy New Orleans; and $25 million for Entergy Texas.

The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization.  Each Registrant Subsidiary is in compliance with this covenant.

In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each has an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO and for other purposes. The following is a summary of the uncommitted standby letter of credit facilities as of March 31, 2025:

Company	Amount of Uncommitted Facility	Letter of Credit Fee	Letters of Credit Issued as of March 31, 2025 (a) (b)
Entergy Arkansas	$25 million	0.78%	$17.1 million
Entergy Louisiana	$125 million	0.78%	$56.2 million
Entergy Mississippi	$65 million	0.78%	$32.6 million
Entergy New Orleans	$1 million	1.625%	$0.5 million
Entergy Texas	$150 million	1.250%	$105.4 million

(a)As of March 31, 2025, no letters of credit were posted with MISO to cover financial transmission rights at the Utility operating companies.

(b)As of March 31, 2025, the letters of credit issued for Entergy Mississippi include $31.3 million in MISO letters of credit and $1.3 million in non-MISO letters of credit outstanding under this facility.

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have FERC-authorized short-term borrowing limits effective through January 2027. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy system money pool and from other internal short-term borrowing arrangements.  The money pool is an intercompany cash management program that makes possible intercompany borrowing and lending arrangements, and the money pool and the other internal borrowing arrangements are designed to reduce the Registrant Subsidiaries’ dependence on external short-term borrowings.  Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of March 31, 2025 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries:

	Authorized	Borrowings
	(In Millions)
Entergy Arkansas	$250	$—
Entergy Louisiana	$450	$—
Entergy Mississippi	$200	$—
Entergy New Orleans	$150	$—
Entergy Texas	$200	$—
System Energy	$200	$—

Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs).  To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of March 31, 2025:

Company	Expiration Date	Amount of Facility	Weighted-  Average Interest  Rate on  Borrowings (a)	Amount Outstanding as of March 31, 2025
		(Dollars in Millions)
Entergy Arkansas VIE	June 2027	$80	5.44%	$5.4
Entergy Louisiana River Bend VIE	June 2027	$105	5.43%	$72.3
Entergy Louisiana Waterford VIE	June 2027	$105	5.43%	$65.3
System Energy VIE	June 2027	$120	5.43%	$58.9

(a)Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility.

The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs.  Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant.

The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of March 31, 2025 as follows:

Company	Description	Amount
Entergy Arkansas VIE	1.84% Series N due July 2026	$90 million
Entergy Arkansas VIE	5.54% Series O due May 2029	$70 million
Entergy Louisiana River Bend VIE	2.51% Series V due June 2027	$70 million
Entergy Louisiana Waterford VIE	5.94% Series J due September 2026	$70 million
System Energy VIE	2.05% Series K due September 2027	$90 million

In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

As of March 31, 2025, Entergy Arkansas, Entergy Louisiana, and System Energy each has obtained financing authorization from the FERC that extends through January 2027 for issuances by its nuclear fuel company VIEs.

Debt Issuances and Retirements

(Entergy Louisiana)

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana used the proceeds, together with other funds: (1) to repay, prior to maturity, its $190 million of

3.78% Series mortgage bonds due April 2025; (2) to repay, prior to maturity, its $110 million of 3.78% Series mortgage bonds due April 2025; (3) for capital expenditures; and (4) for general corporate purposes.

(Entergy Mississippi)

In March 2025, Entergy Mississippi issued $600 million of 5.80% Series mortgage bonds due April 2055. Entergy Mississippi expects to use the proceeds, together with other funds, to finance a portion of the construction of the Delta Blues Advanced Power Station, the Delta Solar facility, and the Penton Solar facility, and for general corporate purposes.

(Entergy New Orleans)

In February 2025, Entergy New Orleans entered into a term loan credit agreement providing a $80 million unsecured term loan due March 2026. The term loan bears interest at a variable interest rate based on an adjusted term Secured Overnight Financing Rate plus the applicable adjustment. The rate set as of March 31, 2025 was 5.77%. Entergy New Orleans received the funds in March 2025 and used the proceeds to repay, at maturity, its $78 million of 3.00% Series mortgage bonds due March 2025 and for general corporate purposes.

(Entergy Texas)

In February 2025, Entergy Texas issued $500 million of 5.25% Series mortgage bonds due April 2035. Entergy Texas expects to use the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and the Lone Star Power Station, and for general corporate purposes.

Fair Value

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of March 31, 2025 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$29,594,991	$26,976,295
Entergy Arkansas	$5,107,853	$4,538,510
Entergy Louisiana	$10,405,643	$9,371,023
Entergy Mississippi	$3,020,618	$2,712,650
Entergy New Orleans	$737,355	$697,047
Entergy Texas	$4,047,376	$3,723,403
System Energy	$1,076,797	$1,063,300

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of December 31, 2024 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$27,991,595	$25,181,802
Entergy Arkansas	$5,122,494	$4,546,643
Entergy Louisiana	$9,866,453	$8,751,266
Entergy Mississippi	$2,427,073	$2,116,246
Entergy New Orleans	$735,467	$697,466
Entergy Texas	$3,552,443	$3,176,230
System Energy	$1,089,736	$1,063,946

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

System Energy [Member]

Debt Disclosure [Text Block]

REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Entergy Corporation has in place a credit facility that has a borrowing capacity of $3 billion and expires in June 2029. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.  As there were no borrowings under the facility for the three months ended March 31, 2025, the estimated interest rate as of March 31, 2025 that would have been applied

to outstanding borrowings under the facility was 5.92%. The following is a summary of the amounts outstanding and capacity available under the credit facility as of March 31, 2025:

Capacity	Borrowings	Letters of Credit	Capacity Available
(In Millions)
$3,000	$—	$4	$2,996

Entergy Corporation’s credit facility includes a covenant requiring Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Registrant Subsidiaries (except Entergy New Orleans and System Energy) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the Entergy Corporation credit facility’s maturity date may occur.

Entergy Corporation has a commercial paper program with a Board-approved program limit of $2 billion.  As of March 31, 2025, Entergy Corporation had $1,330 million of commercial paper outstanding. The weighted-average interest rate for the three months ended March 31, 2025 was 4.66%.

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of March 31, 2025 as follows:

Company	Expiration Date	Amount of Facility	Interest Rate (a)	Amount Drawn as of March 31, 2025	Letters of Credit Outstanding as of March 31, 2025
Entergy Arkansas	April 2026	$25 million (b)	6.27%	$—	$—
Entergy Arkansas	June 2029	$300 million (c)	5.55%	$—	$—
Entergy Louisiana	June 2029	$400 million (c)	5.67%	$—	$—
Entergy Mississippi	June 2029	$300 million (c)	5.55%	$—	$—
Entergy New Orleans	June 2027	$25 million (c)	6.05%	$—	$—
Entergy Texas	June 2029	$300 million (c)	5.67%	$—	$1.1 million

(a)The interest rate is the estimated interest rate as of March 31, 2025 that would have been applied to outstanding borrowings under the facility.

(b)Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option.

(c)The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $5 million for Entergy Mississippi; $10 million for Entergy New Orleans; and $25 million for Entergy Texas.

The commitment fees on the credit facilities range from 0.075% to 0.375% of the undrawn commitment amount for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas, and of the entire facility amount for Entergy New Orleans. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization.  Each Registrant Subsidiary is in compliance with this covenant.

In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each has an uncommitted standby letter of credit facility as a means to post collateral to support its obligations to MISO and for other purposes. The following is a summary of the uncommitted standby letter of credit facilities as of March 31, 2025:

Company	Amount of Uncommitted Facility	Letter of Credit Fee	Letters of Credit Issued as of March 31, 2025 (a) (b)
Entergy Arkansas	$25 million	0.78%	$17.1 million
Entergy Louisiana	$125 million	0.78%	$56.2 million
Entergy Mississippi	$65 million	0.78%	$32.6 million
Entergy New Orleans	$1 million	1.625%	$0.5 million
Entergy Texas	$150 million	1.250%	$105.4 million

(a)As of March 31, 2025, no letters of credit were posted with MISO to cover financial transmission rights at the Utility operating companies.

(b)As of March 31, 2025, the letters of credit issued for Entergy Mississippi include $31.3 million in MISO letters of credit and $1.3 million in non-MISO letters of credit outstanding under this facility.

The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have FERC-authorized short-term borrowing limits effective through January 2027. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy system money pool and from other internal short-term borrowing arrangements.  The money pool is an intercompany cash management program that makes possible intercompany borrowing and lending arrangements, and the money pool and the other internal borrowing arrangements are designed to reduce the Registrant Subsidiaries’ dependence on external short-term borrowings.  Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of March 31, 2025 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries:

	Authorized	Borrowings
	(In Millions)
Entergy Arkansas	$250	$—
Entergy Louisiana	$450	$—
Entergy Mississippi	$200	$—
Entergy New Orleans	$150	$—
Entergy Texas	$200	$—
System Energy	$200	$—

Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs).  To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of March 31, 2025:

Company	Expiration Date	Amount of Facility	Weighted-  Average Interest  Rate on  Borrowings (a)	Amount Outstanding as of March 31, 2025
		(Dollars in Millions)
Entergy Arkansas VIE	June 2027	$80	5.44%	$5.4
Entergy Louisiana River Bend VIE	June 2027	$105	5.43%	$72.3
Entergy Louisiana Waterford VIE	June 2027	$105	5.43%	$65.3
System Energy VIE	June 2027	$120	5.43%	$58.9

(a)Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company VIEs for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company VIE for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility.

The commitment fees on the credit facilities are 0.100% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs.  Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. Each lessee is in compliance with this covenant.

The nuclear fuel company VIEs had notes payable that were included in debt on the respective balance sheets as of March 31, 2025 as follows:

Company	Description	Amount
Entergy Arkansas VIE	1.84% Series N due July 2026	$90 million
Entergy Arkansas VIE	5.54% Series O due May 2029	$70 million
Entergy Louisiana River Bend VIE	2.51% Series V due June 2027	$70 million
Entergy Louisiana Waterford VIE	5.94% Series J due September 2026	$70 million
System Energy VIE	2.05% Series K due September 2027	$90 million

In accordance with regulatory treatment, interest on the nuclear fuel company VIEs’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense.

As of March 31, 2025, Entergy Arkansas, Entergy Louisiana, and System Energy each has obtained financing authorization from the FERC that extends through January 2027 for issuances by its nuclear fuel company VIEs.

Debt Issuances and Retirements

(Entergy Louisiana)

In January 2025, Entergy Louisiana issued $750 million of 5.80% Series mortgage bonds due March 2055. Entergy Louisiana used the proceeds, together with other funds: (1) to repay, prior to maturity, its $190 million of

3.78% Series mortgage bonds due April 2025; (2) to repay, prior to maturity, its $110 million of 3.78% Series mortgage bonds due April 2025; (3) for capital expenditures; and (4) for general corporate purposes.

(Entergy Mississippi)

In March 2025, Entergy Mississippi issued $600 million of 5.80% Series mortgage bonds due April 2055. Entergy Mississippi expects to use the proceeds, together with other funds, to finance a portion of the construction of the Delta Blues Advanced Power Station, the Delta Solar facility, and the Penton Solar facility, and for general corporate purposes.

(Entergy New Orleans)

In February 2025, Entergy New Orleans entered into a term loan credit agreement providing a $80 million unsecured term loan due March 2026. The term loan bears interest at a variable interest rate based on an adjusted term Secured Overnight Financing Rate plus the applicable adjustment. The rate set as of March 31, 2025 was 5.77%. Entergy New Orleans received the funds in March 2025 and used the proceeds to repay, at maturity, its $78 million of 3.00% Series mortgage bonds due March 2025 and for general corporate purposes.

(Entergy Texas)

In February 2025, Entergy Texas issued $500 million of 5.25% Series mortgage bonds due April 2035. Entergy Texas expects to use the proceeds, together with other funds, to finance the construction of the Orange County Advanced Power Station and the Lone Star Power Station, and for general corporate purposes.

Fair Value

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of March 31, 2025 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$29,594,991	$26,976,295
Entergy Arkansas	$5,107,853	$4,538,510
Entergy Louisiana	$10,405,643	$9,371,023
Entergy Mississippi	$3,020,618	$2,712,650
Entergy New Orleans	$737,355	$697,047
Entergy Texas	$4,047,376	$3,723,403
System Energy	$1,076,797	$1,063,300

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.

The book value and the fair value of long-term debt for Entergy and the Registrant Subsidiaries as of December 31, 2024 were as follows:

	Book Value of Long-Term Debt	Fair Value of Long-Term Debt (a)
	(In Thousands)
Entergy	$27,991,595	$25,181,802
Entergy Arkansas	$5,122,494	$4,546,643
Entergy Louisiana	$9,866,453	$8,751,266
Entergy Mississippi	$2,427,073	$2,116,246
Entergy New Orleans	$735,467	$697,466
Entergy Texas	$3,552,443	$3,176,230
System Energy	$1,089,736	$1,063,946

(a)Fair values were classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements herein.