DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

The NRC requires certain of the Utility operating companies and System Energy to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1 and 2, River Bend, Waterford 3, and Grand Gulf. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents.

Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, for unrealized gains/(losses) on investment securities, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other long-term liabilities on the consolidated balance sheets of Entergy and Entergy Louisiana for the unrealized trust earnings not currently expected to be needed to decommission the plant. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $185 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$2,410	$2,202
Unrealized gains	$15	$28
Unrealized losses	$60	$45

As of March 31, 2026 and December 31, 2025, there were no deferred taxes on unrealized gains/(losses). The amortized cost of available-for-sale debt securities was $2,456 million as of March 31, 2026 and $2,219 million as of December 31, 2025. As of March 31, 2026, available-for-sale debt securities had an average coupon rate of approximately 4.17%, an average duration of approximately 6.22 years, and an average maturity of approximately 10.58 years.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$991	$14	$361	$3
More than 12 months	502	46	549	42
Total	$1,493	$60	$910	$45

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$27	$31
1 year - 5 years	611	649
5 years - 10 years	744	645
10 years - 15 years	278	188
15 years - 20 years	284	218
20 years+	466	471
Total	$2,410	$2,202

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$159	$262
Realized gains	$1	$1
Realized losses	$2	$4

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Entergy Arkansas

Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$686.6	$614.0
Unrealized gains	$4.1	$7.5
Unrealized losses	$18.8	$14.2

The amortized cost of available-for-sale debt securities was $701.2 million as of March 31, 2026 and $620.7 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 3.75%, an average duration of approximately 6.27 years, and an average maturity of approximately 8.55 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $52 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$233.3	$3.7	$89.1	$0.6
More than 12 months	191.7	15.1	211.1	13.6
Total	$425.0	$18.8	$300.2	$14.2

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$22.6	$27.7
1 year - 5 years	144.5	140.2
5 years - 10 years	278.8	256.8
10 years - 15 years	99.0	69.1
15 years - 20 years	78.4	61.4
20 years+	63.3	58.8
Total	$686.6	$614.0

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$3.8	$—
Realized gains	$—	$—
Realized losses	$0.1	$—

During three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Entergy Louisiana

Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$1,045.8	$992.6
Unrealized gains	$6.9	$13.0
Unrealized losses	$20.3	$15.0

The amortized cost of available-for-sale debt securities was $1,059.2 million as of March 31, 2026 and $994.6 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 4.44%, an average duration of approximately 6.21 years, and an average maturity of approximately 12.21 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $82.6 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$449.9	$5.4	$179.8	$1.6
More than 12 months	176.6	14.9	196.6	13.4
Total	$626.5	$20.3	$376.4	$15.0

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$1.5	$0.9
1 year - 5 years	246.2	259.0
5 years - 10 years	237.2	227.7
10 years - 15 years	129.8	93.6
15 years - 20 years	152.2	110.9
20 years+	278.9	300.5
Total	$1,045.8	$992.6

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$75.7	$110.0
Realized gains	$0.4	$0.1
Realized losses	$1.5	$1.5

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

System Energy

System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$678.0	$595.0
Unrealized gains	$3.7	$7.4
Unrealized losses	$21.4	$16.2

The amortized cost of available-for-sale debt securities was $695.7 million as of March 31, 2026 and $603.7 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 4.22%, an average duration of approximately 6.18 years, and an average maturity of approximately 10.20 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $50.5 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


		2026		2025
		Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months		$307.5	$5.1	$91.9	$1.1
More than 12 months		134.2	16.3	141.7	15.1
Total		$441.7	$21.4	$233.6	$16.2

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$2.6	$2.2
1 year - 5 years	220.5	249.8
5 years - 10 years	227.6	160.3
10 years - 15 years	48.8	25.5
15 years - 20 years	53.4	46.2
20 years+	125.1	111.0
Total	$678.0	$595.0

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$79.0	$152.3
Realized gains	$0.3	$0.6
Realized losses	$0.7	$2.7

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Decommissioning Trust Fund [Text Block]

DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

The NRC requires certain of the Utility operating companies and System Energy to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1 and 2, River Bend, Waterford 3, and Grand Gulf. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents.

Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, for unrealized gains/(losses) on investment securities, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other long-term liabilities on the consolidated balance sheets of Entergy and Entergy Louisiana for the unrealized trust earnings not currently expected to be needed to decommission the plant. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $185 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$2,410	$2,202
Unrealized gains	$15	$28
Unrealized losses	$60	$45

As of March 31, 2026 and December 31, 2025, there were no deferred taxes on unrealized gains/(losses). The amortized cost of available-for-sale debt securities was $2,456 million as of March 31, 2026 and $2,219 million as of December 31, 2025. As of March 31, 2026, available-for-sale debt securities had an average coupon rate of approximately 4.17%, an average duration of approximately 6.22 years, and an average maturity of approximately 10.58 years.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$991	$14	$361	$3
More than 12 months	502	46	549	42
Total	$1,493	$60	$910	$45

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$27	$31
1 year - 5 years	611	649
5 years - 10 years	744	645
10 years - 15 years	278	188
15 years - 20 years	284	218
20 years+	466	471
Total	$2,410	$2,202

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$159	$262
Realized gains	$1	$1
Realized losses	$2	$4

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Entergy Arkansas

Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$686.6	$614.0
Unrealized gains	$4.1	$7.5
Unrealized losses	$18.8	$14.2

The amortized cost of available-for-sale debt securities was $701.2 million as of March 31, 2026 and $620.7 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 3.75%, an average duration of approximately 6.27 years, and an average maturity of approximately 8.55 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $52 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$233.3	$3.7	$89.1	$0.6
More than 12 months	191.7	15.1	211.1	13.6
Total	$425.0	$18.8	$300.2	$14.2

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$22.6	$27.7
1 year - 5 years	144.5	140.2
5 years - 10 years	278.8	256.8
10 years - 15 years	99.0	69.1
15 years - 20 years	78.4	61.4
20 years+	63.3	58.8
Total	$686.6	$614.0

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$3.8	$—
Realized gains	$—	$—
Realized losses	$0.1	$—

During three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Entergy Louisiana

Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$1,045.8	$992.6
Unrealized gains	$6.9	$13.0
Unrealized losses	$20.3	$15.0

The amortized cost of available-for-sale debt securities was $1,059.2 million as of March 31, 2026 and $994.6 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 4.44%, an average duration of approximately 6.21 years, and an average maturity of approximately 12.21 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $82.6 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$449.9	$5.4	$179.8	$1.6
More than 12 months	176.6	14.9	196.6	13.4
Total	$626.5	$20.3	$376.4	$15.0

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$1.5	$0.9
1 year - 5 years	246.2	259.0
5 years - 10 years	237.2	227.7
10 years - 15 years	129.8	93.6
15 years - 20 years	152.2	110.9
20 years+	278.9	300.5
Total	$1,045.8	$992.6

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$75.7	$110.0
Realized gains	$0.4	$0.1
Realized losses	$1.5	$1.5

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

System Energy

System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$678.0	$595.0
Unrealized gains	$3.7	$7.4
Unrealized losses	$21.4	$16.2

The amortized cost of available-for-sale debt securities was $695.7 million as of March 31, 2026 and $603.7 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 4.22%, an average duration of approximately 6.18 years, and an average maturity of approximately 10.20 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $50.5 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


		2026		2025
		Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months		$307.5	$5.1	$91.9	$1.1
More than 12 months		134.2	16.3	141.7	15.1
Total		$441.7	$21.4	$233.6	$16.2

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$2.6	$2.2
1 year - 5 years	220.5	249.8
5 years - 10 years	227.6	160.3
10 years - 15 years	48.8	25.5
15 years - 20 years	53.4	46.2
20 years+	125.1	111.0
Total	$678.0	$595.0

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$79.0	$152.3
Realized gains	$0.3	$0.6
Realized losses	$0.7	$2.7

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Decommissioning Trust Fund [Text Block]

DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

The NRC requires certain of the Utility operating companies and System Energy to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1 and 2, River Bend, Waterford 3, and Grand Gulf. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents.

Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, for unrealized gains/(losses) on investment securities, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other long-term liabilities on the consolidated balance sheets of Entergy and Entergy Louisiana for the unrealized trust earnings not currently expected to be needed to decommission the plant. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $185 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$2,410	$2,202
Unrealized gains	$15	$28
Unrealized losses	$60	$45

As of March 31, 2026 and December 31, 2025, there were no deferred taxes on unrealized gains/(losses). The amortized cost of available-for-sale debt securities was $2,456 million as of March 31, 2026 and $2,219 million as of December 31, 2025. As of March 31, 2026, available-for-sale debt securities had an average coupon rate of approximately 4.17%, an average duration of approximately 6.22 years, and an average maturity of approximately 10.58 years.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$991	$14	$361	$3
More than 12 months	502	46	549	42
Total	$1,493	$60	$910	$45

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$27	$31
1 year - 5 years	611	649
5 years - 10 years	744	645
10 years - 15 years	278	188
15 years - 20 years	284	218
20 years+	466	471
Total	$2,410	$2,202

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$159	$262
Realized gains	$1	$1
Realized losses	$2	$4

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Entergy Arkansas

Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$686.6	$614.0
Unrealized gains	$4.1	$7.5
Unrealized losses	$18.8	$14.2

The amortized cost of available-for-sale debt securities was $701.2 million as of March 31, 2026 and $620.7 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 3.75%, an average duration of approximately 6.27 years, and an average maturity of approximately 8.55 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $52 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$233.3	$3.7	$89.1	$0.6
More than 12 months	191.7	15.1	211.1	13.6
Total	$425.0	$18.8	$300.2	$14.2

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$22.6	$27.7
1 year - 5 years	144.5	140.2
5 years - 10 years	278.8	256.8
10 years - 15 years	99.0	69.1
15 years - 20 years	78.4	61.4
20 years+	63.3	58.8
Total	$686.6	$614.0

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$3.8	$—
Realized gains	$—	$—
Realized losses	$0.1	$—

During three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Entergy Louisiana

Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$1,045.8	$992.6
Unrealized gains	$6.9	$13.0
Unrealized losses	$20.3	$15.0

The amortized cost of available-for-sale debt securities was $1,059.2 million as of March 31, 2026 and $994.6 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 4.44%, an average duration of approximately 6.21 years, and an average maturity of approximately 12.21 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $82.6 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$449.9	$5.4	$179.8	$1.6
More than 12 months	176.6	14.9	196.6	13.4
Total	$626.5	$20.3	$376.4	$15.0

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$1.5	$0.9
1 year - 5 years	246.2	259.0
5 years - 10 years	237.2	227.7
10 years - 15 years	129.8	93.6
15 years - 20 years	152.2	110.9
20 years+	278.9	300.5
Total	$1,045.8	$992.6

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$75.7	$110.0
Realized gains	$0.4	$0.1
Realized losses	$1.5	$1.5

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

System Energy

System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$678.0	$595.0
Unrealized gains	$3.7	$7.4
Unrealized losses	$21.4	$16.2

The amortized cost of available-for-sale debt securities was $695.7 million as of March 31, 2026 and $603.7 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 4.22%, an average duration of approximately 6.18 years, and an average maturity of approximately 10.20 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $50.5 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


		2026		2025
		Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months		$307.5	$5.1	$91.9	$1.1
More than 12 months		134.2	16.3	141.7	15.1
Total		$441.7	$21.4	$233.6	$16.2

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$2.6	$2.2
1 year - 5 years	220.5	249.8
5 years - 10 years	227.6	160.3
10 years - 15 years	48.8	25.5
15 years - 20 years	53.4	46.2
20 years+	125.1	111.0
Total	$678.0	$595.0

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$79.0	$152.3
Realized gains	$0.3	$0.6
Realized losses	$0.7	$2.7

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Decommissioning Trust Fund [Text Block]

DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy)

The NRC requires certain of the Utility operating companies and System Energy to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1 and 2, River Bend, Waterford 3, and Grand Gulf. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents.

Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, for unrealized gains/(losses) on investment securities, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other long-term liabilities on the consolidated balance sheets of Entergy and Entergy Louisiana for the unrealized trust earnings not currently expected to be needed to decommission the plant. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $185 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$2,410	$2,202
Unrealized gains	$15	$28
Unrealized losses	$60	$45

As of March 31, 2026 and December 31, 2025, there were no deferred taxes on unrealized gains/(losses). The amortized cost of available-for-sale debt securities was $2,456 million as of March 31, 2026 and $2,219 million as of December 31, 2025. As of March 31, 2026, available-for-sale debt securities had an average coupon rate of approximately 4.17%, an average duration of approximately 6.22 years, and an average maturity of approximately 10.58 years.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$991	$14	$361	$3
More than 12 months	502	46	549	42
Total	$1,493	$60	$910	$45

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$27	$31
1 year - 5 years	611	649
5 years - 10 years	744	645
10 years - 15 years	278	188
15 years - 20 years	284	218
20 years+	466	471
Total	$2,410	$2,202

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$159	$262
Realized gains	$1	$1
Realized losses	$2	$4

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Entergy Arkansas

Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$686.6	$614.0
Unrealized gains	$4.1	$7.5
Unrealized losses	$18.8	$14.2

The amortized cost of available-for-sale debt securities was $701.2 million as of March 31, 2026 and $620.7 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 3.75%, an average duration of approximately 6.27 years, and an average maturity of approximately 8.55 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $52 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$233.3	$3.7	$89.1	$0.6
More than 12 months	191.7	15.1	211.1	13.6
Total	$425.0	$18.8	$300.2	$14.2

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$22.6	$27.7
1 year - 5 years	144.5	140.2
5 years - 10 years	278.8	256.8
10 years - 15 years	99.0	69.1
15 years - 20 years	78.4	61.4
20 years+	63.3	58.8
Total	$686.6	$614.0

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$3.8	$—
Realized gains	$—	$—
Realized losses	$0.1	$—

During three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

Entergy Louisiana

Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$1,045.8	$992.6
Unrealized gains	$6.9	$13.0
Unrealized losses	$20.3	$15.0

The amortized cost of available-for-sale debt securities was $1,059.2 million as of March 31, 2026 and $994.6 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 4.44%, an average duration of approximately 6.21 years, and an average maturity of approximately 12.21 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $82.6 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


	2026		2025
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months	$449.9	$5.4	$179.8	$1.6
More than 12 months	176.6	14.9	196.6	13.4
Total	$626.5	$20.3	$376.4	$15.0

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$1.5	$0.9
1 year - 5 years	246.2	259.0
5 years - 10 years	237.2	227.7
10 years - 15 years	129.8	93.6
15 years - 20 years	152.2	110.9
20 years+	278.9	300.5
Total	$1,045.8	$992.6

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$75.7	$110.0
Realized gains	$0.4	$0.1
Realized losses	$1.5	$1.5

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.

System Energy

System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale debt securities held as of March 31, 2026 and December 31, 2025 are summarized as follows:


	2026	2025
	(In Millions)
Fair value	$678.0	$595.0
Unrealized gains	$3.7	$7.4
Unrealized losses	$21.4	$16.2

The amortized cost of available-for-sale debt securities was $695.7 million as of March 31, 2026 and $603.7 million as of December 31, 2025. As of March 31, 2026, the available-for-sale debt securities had an average coupon rate of approximately 4.22%, an average duration of approximately 6.18 years, and an average maturity of approximately 10.20 years.

The unrealized gains/(losses) recognized during the three months ended March 31, 2026 on equity securities still held as of March 31, 2026 were $50.5 million. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds that are designed to approximate or somewhat exceed the return of the Wilshire 4500 Index. The debt securities are generally held in individual government and credit issuances.

The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities had been in a continuous loss position, were as follows as of March 31, 2026 and December 31, 2025:


		2026		2025
		Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
	(In Millions)
Less than 12 months		$307.5	$5.1	$91.9	$1.1
More than 12 months		134.2	16.3	141.7	15.1
Total		$441.7	$21.4	$233.6	$16.2

The fair value of available-for-sale debt securities, summarized by contractual maturities, as of March 31, 2026 and December 31, 2025 were as follows:


	2026	2025
	(In Millions)
Less than 1 year	$2.6	$2.2
1 year - 5 years	220.5	249.8
5 years - 10 years	227.6	160.3
10 years - 15 years	48.8	25.5
15 years - 20 years	53.4	46.2
20 years+	125.1	111.0
Total	$678.0	$595.0

The following table summarizes proceeds from the dispositions of available-for-sale debt securities and the related gains and losses from the sales during the three months ended March 31, 2026 and 2025:



	2026	2025
	(In Millions)
Proceeds from disposition of securities	$79.0	$152.3
Realized gains	$0.3	$0.6
Realized losses	$0.7	$2.7

During the three months ended March 31, 2026 and 2025, gross gains and gross losses related to available-for-sale debt securities were reclassified out of other regulatory liabilities/assets into earnings.