Long - Term Debt

12 Months Ended

Dec. 31, 2013

Long - Term Debt

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

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2013 and 2012 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2013	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2013	2012	2013			2012
				(In Thousands)
Mortgage Bonds
2013-2018	5.43%	1.88%-6.50%	1.88%-6.50%		$1,460,000			$1,930,000
2019-2023	4.24%	3.05%-7.13%	3.10%-7.13%	2,925,000			2,250,000
2024-2028	5.27%	4.44%-5.66%	4.44%-5.66%	1,158,363			1,158,369
2029-2038	6.18%	5.65%-6.40%	5.65%-6.40%	867,914			867,976
2039-2063	5.55%	4.70%-7.88%	4.90%-7.88%	1,560,000			1,335,000
Governmental Bonds (a)
2013-2018	1.84%	1.55%-2.88%	2.88%-4.60%	86,655			86,655
2019-2023	5.30%	2.38%-5.88%	4.60%-5.88%	291,000			307,030
2024-2031	5.00%	5.00%	5.00%	198,680			198,680
Securitization Bonds
2014-2021	2.92%	2.04%-5.79%	2.12%-5.79%	550,243			459,152
2022-2024	4.86%	4.38%-5.93%	2.04%-5.93%	333,000			514,584
Variable Interest Entities Notes Payable (Note 4)
2013-2020	3.50%	1.38%-5.69%	2.62%-9.00%	634,800			640,000
Entergy Corporation Notes
due September 2015	n/a	3.625%	3.625%	550,000			550,000
due January 2017	n/a	4.70%	4.70%	500,000			500,000
due September 2020	n/a	5.125%	5.125%	450,000			450,000
Note Payable to NYPA	(b)	(b)	(b)	95,011			109,679
5 Year Credit Facility (Note 4)	n/a	1.96%	2.04%	255,000			795,000
Long-term DOE Obligation (c)	—	—	—	181,253			181,157
Waterford 3 Lease Obligation (d)	n/a	7.45%	7.45%	148,716			162,949
Grand Gulf Lease Obligation (d)	n/a	5.13%	5.13%	97,414			138,893
Term Loan - Entergy Arkansas	n/a	1.13%	—	250,000			—
Unamortized Premium and Discount - Net				(11,172		)	(10,744		)
Other				14,367			14,454
Total Long-Term Debt				12,596,244			12,638,834
Less Amount Due Within One Year				457,095			718,516
Long-Term Debt Excluding Amount Due Within One Year					$12,139,149			$11,920,318
Fair Value of Long-Term Debt (e)					$12,439,785			$12,849,330

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

(b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.

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

(d) See Note 10 to the financial statements for further discussion of the Waterford 3 and Grand Gulf lease obligations.

(e) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $95 million at Entergy, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Amount
	(In Thousands)
2014		$385,373
2015		$1,110,566
2016		$270,852
2017		$766,801
2018		$1,324,616

In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction.  Entergy issued notes to NYPA with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing.  These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.  In accordance with the purchase agreement with NYPA, the purchase of Indian Point 2 in 2001 resulted in Entergy becoming liable to NYPA for an additional $10 million per year for 10 years, beginning in September 2003.  This liability was recorded upon the purchase of Indian Point 2 in September 2001. In July 2003 a payment of $102 million was made prior to maturity on the note payable to NYPA.  Under a provision in a letter of credit supporting these notes, if certain of the Utility operating companies or System Energy were to default on other indebtedness, Entergy could be required to post collateral to support the letter of credit.

Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015.  Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014.

Capital Funds Agreement

Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to:

• maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt);

• permit the continued commercial operation of Grand Gulf;

• pay in full all System Energy indebtedness for borrowed money when due; and

• enable System Energy to make payments on specific System Energy debt, under supplements to the agreement assigning System Energy’s rights in the agreement as security for the specific debt.

Long-term debt for the Registrant Subsidiaries as of December 31, 2013 and 2012 consisted of:

	2013			2012
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
5.40% Series due August 2013		$—			$300,000
5.0% Series due July 2018	115,000			115,000
3.75% Series due February 2021	350,000			350,000
3.05% Series due June 2023	250,000			—
5.66% Series due February 2025	175,000			175,000
5.9% Series due June 2033	100,000			100,000
6.38% Series due November 2034	60,000			60,000
5.75% Series due November 2040	225,000			225,000
4.9% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			—
Total mortgage bonds	1,600,000			1,525,000
Governmental Bonds (a):
4.6% Series due 2017, Jefferson County (d)	—			54,700
1.55% Series due 2017, Jefferson County (d)	54,700			—
5.0% Series due 2021, Independence County (d)	—			45,000
2.38% Series due 2021, Independence County (d)	45,000			—
Total governmental bonds	99,700			99,700
Variable Interest Entity Notes Payable (Note 4):
9% Series H due June 2013	—			30,000
5.69% Series I due July 2014	70,000			70,000
3.23% Series J due July 2016	55,000			55,000
2.62% Series K due December 2017	60,000			60,000
Total variable interest entity notes payable	185,000			215,000
Securitization Bonds:
2.30% Series Senior Secured due August 2021	88,986			101,575
Total securitization bonds	88,986			101,575
Other:
Long-term DOE Obligation (b)	181,253			181,157
Term Loan due January 2015, weighted avg rate 1.13%	250,000			—
Unamortized Premium and Discount – Net	(1,242		)	(655		)
Other	2,105			2,118
Total Long-Term Debt	2,405,802			2,123,895
Less Amount Due Within One Year	70,000			330,000
Long-Term Debt Excluding Amount Due Within One Year		$2,335,802			$1,793,895
Fair Value of Long-Term Debt (c)		$2,142,527			$1,876,335

	2013			2012
	(In Thousands)
Entergy Gulf States Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$375,000			$375,000
3.95% Series due October 2020	250,000			250,000
5.59% Series due October 2024	300,000			300,000
6.2% Series due July 2033	240,000			240,000
6.18% Series due March 2035	85,000			85,000
Total mortgage bonds	1,250,000			1,250,000
Governmental Bonds (a):
2.875% Series due 2015, Louisiana Public Facilities Authority (d)	31,955			31,955
5.0% Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
Total governmental bonds	115,635			115,635
Variable Interest Entity Notes Payable (Note 4):
5.56% Series N due May 2013	—			75,000
3.25% Series Q due July 2017	75,000			75,000
3.38% Series R due August 2020	70,000			—
Credit Facility due June 2016, weighted avg rate 1.38%	14,800			—
Total variable interest entity notes payable	159,800			150,000
Other:
Unamortized Premium and Discount – Net	(1,574		)	(1,810		)
Other	3,604			3,604
Total Long-Term Debt	1,527,465			1,517,429
Less Amount Due Within One Year	—			75,000
Long-Term Debt Excluding Amount Due Within One Year		$1,527,465			$1,442,429
Fair Value of Long-Term Debt (c)		$1,631,308			$1,668,819

	2013			2012
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
1.875% Series due December 2014		$250,000			$250,000
6.50% Series due September 2018	300,000			300,000
4.8% Series due May 2021	200,000			200,000
3.3% Series due December 2022	200,000			200,000
4.05% Series due September 2023	325,000			—
5.40% Series due November 2024	400,000			400,000
4.44% Series due January 2026	250,000			250,000
6.4% Series due October 2034	70,000			70,000
6.3% Series due September 2035	100,000			100,000
6.0% Series due March 2040	150,000			150,000
5.875% Series due June 2041	150,000			150,000
5.25% Series due July 2052	200,000			200,000
4.7% Series due June 2063	100,000			—
Total mortgage bonds	2,695,000			2,270,000
Governmental Bonds (a):
5.0% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	115,000			115,000
Variable Interest Entity Notes Payable (Note 4):
5.69% Series E due July 2014	50,000			50,000
3.30% Series F due March 2016	20,000			20,000
3.25% Series G due July 2017	25,000			25,000
Total variable interest entity notes payable	95,000			95,000
Securitization Bonds:
2.04% Series Senior Secured due June 2021	164,993			181,584
Total securitization bonds	164,993			181,584
Other:
Waterford 3 Lease Obligation 7.45% (Note 10)	148,716			162,949
Unamortized Premium and Discount - Net	(2,962		)	(2,230		)
Other	3,769			3,792
Total Long-Term Debt	3,219,516			2,826,095
Less Amount Due Within One Year	320,231			14,236
Long-Term Debt Excluding Amount Due Within One Year		$2,899,285			$2,811,859
Fair Value of Long-Term Debt (c)		$3,148,877			$2,921,322

	2013			2012
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
5.15% Series due February 2013		$—			$100,000
3.25% Series due June 2016	125,000			125,000
4.95% Series due June 2018	95,000			95,000
6.64% Series due July 2019	150,000			150,000
3.1% Series due July 2023	250,000			250,000
6.0% Series due November 2032	75,000			75,000
6.25% Series due April 2034	100,000			100,000
6.20% Series due April 2040	80,000			80,000
6.0% Series due May 2051	150,000			150,000
Total mortgage bonds	1,025,000			1,125,000
Governmental Bonds (a):
4.60% Series due 2022, Mississippi Business Finance Corp.(d)	—			16,030
4.90% Series due 2022, Independence County (d)	30,000			30,000
Total governmental bonds	30,000			46,030
Other:
Unamortized Premium and Discount – Net	(1,330		)	(1,511		)
Total Long-Term Debt	1,053,670			1,169,519
Less Amount Due Within One Year	—			100,000
Long-Term Debt Excluding Amount Due Within One Year		$1,053,670			$1,069,519
Fair Value of Long-Term Debt (c)		$1,067,006			$1,230,714

	2013			2012
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.25% Series due August 2013		$—			$70,000
5.10% Series due December 2020	25,000			25,000
3.9% Series due July 2023	100,000			—
5.6% Series due September 2024	33,363			33,369
5.65% Series due September 2029	37,914			37,976
5.0% Series due December 2052	30,000			30,000
Total mortgage bonds	226,277			196,345
Other:
Unamortized Premium and Discount – Net	(333		)	(45		)
Total Long-Term Debt	225,944			196,300
Less Amount Due Within One Year	—			70,000
Long-Term Debt Excluding Amount Due Within One Year		$225,944			$126,300
Fair Value of Long-Term Debt (c)		$217,692			$200,725

	2013			2012
	(In Thousands)
Entergy Texas
Mortgage Bonds:
3.60% Series due June 2015		$200,000			$200,000
7.125% Series due February 2019	500,000			500,000
4.1% Series due September 2021	75,000			75,000
7.875% Series due June 2039	150,000			150,000
Total mortgage bonds	925,000			925,000
Securitization Bonds:
2.12% Series Senior Secured, Series A due February 2016	54,047			93,436
5.79% Series Senior Secured, Series A due October 2018	97,414			119,341
3.65% Series Senior Secured, Series A due August 2019	144,800			144,800
5.93% Series Senior Secured, Series A due June 2022	114,400			114,400
4.38% Series Senior Secured due November 2023	218,600			218,600
Total securitization bonds	629,261			690,577
Other:
Unamortized Premium and Discount - Net	(2,211		)	(2,653		)
Other	4,889			4,889
Total Long-Term Debt	1,556,939			1,617,813
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$1,556,939			$1,617,813
Fair Value of Long-Term Debt (c)		$1,726,623			$1,885,672

	2013			2012
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023		$250,000			$250,000
Total mortgage bonds	250,000			250,000
Governmental Bonds (a):
5.875% Series due 2022, Mississippi Business Finance Corp.	216,000			216,000
Total governmental bonds	216,000			216,000
Variable Interest Entity Notes Payable (Note 4):
6.29% Series F due September 2013	—			70,000
5.33% Series G due April 2015	60,000			60,000
4.02% Series H due February 2017	50,000			50,000
3.78% Series I due October 2018	85,000			—
Total variable interest entity notes payable	195,000			180,000
Other:
Grand Gulf Lease Obligation 5.13% (Note 10)	97,414			138,893
Unamortized Premium and Discount – Net	(981		)	(1,096		)
Other	3			2
Total Long-Term Debt	757,436			783,799
Less Amount Due Within One Year	48,653			111,854
Long-Term Debt Excluding Amount Due Within One Year		$708,783			$671,945
Fair Value of Long-Term Debt (c)		$664,890			$664,670

(a) Consists of pollution control revenue bonds and environmental revenue bonds.

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

(c) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy and long-term DOE obligations of $181 million at Entergy Arkansas, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) The bonds are secured by a series of collateral first mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans	Entergy Texas		System Energy
2014		$70,000	—			$300,000	—		—	—		—
2015		$250,000		$31,955	—		—		—		$200,000		$60,000
2016		$55,000		$14,800		$20,000		$125,000	—		$54,047	—
2017		$114,700		$75,000		$25,000	—		—	—			$50,000
2018		$115,000		$375,000		$300,000		$95,000	—		$97,414		$85,000

Entergy Arkansas Securitization Bonds

In June 2010, the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs.  In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds.  The bonds have a coupon of 2.30% and an expected maturity date of August 2021.  Although the principal amount is not due until the date given above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $12.8 million for 2014, $13.2 million for 2015, $13.4 million for 2016, $13.8 million for 2017, and $14.1 million for 2018.  With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds.  The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet.  The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas.  Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections.

Entergy Louisiana Securitization Bonds – Little Gypsy

In August 2011, the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the cancelled Little Gypsy repowering project.  In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds.  The bonds have an interest rate of 2.04% and an expected maturity date of June 2021.  Although the principal amount is not due until the date given above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.9 million for 2014, $20.5 million for 2015, $21.6 million for 2016, $21.7 million for 2017, and $22.3 million for 2018.  With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds.  In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs.  The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet.  The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana.  Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections.

Entergy Texas Securitization Bonds - Hurricane Rita

In April 2007, the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits.  In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds, Series A:
Tranche A-1 (5.51%) due October 2013		$93,500
Tranche A-2 (5.79%) due October 2018	121,600
Tranche A-3 (5.93%) due June 2022	114,400
Total senior secured transition bonds		$329,500

Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $23.2 million for 2014, $24.6 million for 2015, $26.0 million for 2016, $27.6 million for 2017, and $29.2 million for 2018.  All of the scheduled principal payments for 2014-2016 are for Tranche A-2, $23.6 million of the scheduled principal payments for 2017 are for Tranche A-2 and  $4.0 million of the scheduled principal payments for 2017 are for Tranche A-3. All of the scheduled principal payments for 2018 are for Tranche A-3.

With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009, the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds
Tranche A-1 (2.12%) due February 2016		$182,500
Tranche A-2 (3.65%) due August 2019	144,800
Tranche A-3 (4.38%) due November 2023	218,600
Total senior secured transition bonds		$545,900

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $40.2 million for 2014, $41.2 million for 2015, $42.6 million for 2016, $44.1 million for 2017, and $45.8 million for 2018.  All of the scheduled principal payments for 2014 are for Tranche A-1, $13.8 million of the scheduled principal payments for 2015 are for Tranche A-1 and $27.4 million are for Tranche A-2. All of the scheduled principal payments for 2016-2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15.0 million are for Tranche A-3.

With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections.

Entergy Arkansas [Member]

Long - Term Debt

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

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2013 and 2012 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2013	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2013	2012	2013			2012
				(In Thousands)
Mortgage Bonds
2013-2018	5.43%	1.88%-6.50%	1.88%-6.50%		$1,460,000			$1,930,000
2019-2023	4.24%	3.05%-7.13%	3.10%-7.13%	2,925,000			2,250,000
2024-2028	5.27%	4.44%-5.66%	4.44%-5.66%	1,158,363			1,158,369
2029-2038	6.18%	5.65%-6.40%	5.65%-6.40%	867,914			867,976
2039-2063	5.55%	4.70%-7.88%	4.90%-7.88%	1,560,000			1,335,000
Governmental Bonds (a)
2013-2018	1.84%	1.55%-2.88%	2.88%-4.60%	86,655			86,655
2019-2023	5.30%	2.38%-5.88%	4.60%-5.88%	291,000			307,030
2024-2031	5.00%	5.00%	5.00%	198,680			198,680
Securitization Bonds
2014-2021	2.92%	2.04%-5.79%	2.12%-5.79%	550,243			459,152
2022-2024	4.86%	4.38%-5.93%	2.04%-5.93%	333,000			514,584
Variable Interest Entities Notes Payable (Note 4)
2013-2020	3.50%	1.38%-5.69%	2.62%-9.00%	634,800			640,000
Entergy Corporation Notes
due September 2015	n/a	3.625%	3.625%	550,000			550,000
due January 2017	n/a	4.70%	4.70%	500,000			500,000
due September 2020	n/a	5.125%	5.125%	450,000			450,000
Note Payable to NYPA	(b)	(b)	(b)	95,011			109,679
5 Year Credit Facility (Note 4)	n/a	1.96%	2.04%	255,000			795,000
Long-term DOE Obligation (c)	—	—	—	181,253			181,157
Waterford 3 Lease Obligation (d)	n/a	7.45%	7.45%	148,716			162,949
Grand Gulf Lease Obligation (d)	n/a	5.13%	5.13%	97,414			138,893
Term Loan - Entergy Arkansas	n/a	1.13%	—	250,000			—
Unamortized Premium and Discount - Net				(11,172		)	(10,744		)
Other				14,367			14,454
Total Long-Term Debt				12,596,244			12,638,834
Less Amount Due Within One Year				457,095			718,516
Long-Term Debt Excluding Amount Due Within One Year					$12,139,149			$11,920,318
Fair Value of Long-Term Debt (e)					$12,439,785			$12,849,330

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

(b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.

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

(d) See Note 10 to the financial statements for further discussion of the Waterford 3 and Grand Gulf lease obligations.

(e) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $95 million at Entergy, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Amount
	(In Thousands)
2014		$385,373
2015		$1,110,566
2016		$270,852
2017		$766,801
2018		$1,324,616

In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction.  Entergy issued notes to NYPA with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing.  These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.  In accordance with the purchase agreement with NYPA, the purchase of Indian Point 2 in 2001 resulted in Entergy becoming liable to NYPA for an additional $10 million per year for 10 years, beginning in September 2003.  This liability was recorded upon the purchase of Indian Point 2 in September 2001. In July 2003 a payment of $102 million was made prior to maturity on the note payable to NYPA.  Under a provision in a letter of credit supporting these notes, if certain of the Utility operating companies or System Energy were to default on other indebtedness, Entergy could be required to post collateral to support the letter of credit.

Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015.  Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014.

Capital Funds Agreement

Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to:

• maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt);

• permit the continued commercial operation of Grand Gulf;

• pay in full all System Energy indebtedness for borrowed money when due; and

• enable System Energy to make payments on specific System Energy debt, under supplements to the agreement assigning System Energy’s rights in the agreement as security for the specific debt.

Long-term debt for the Registrant Subsidiaries as of December 31, 2013 and 2012 consisted of:

	2013			2012
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
5.40% Series due August 2013		$—			$300,000
5.0% Series due July 2018	115,000			115,000
3.75% Series due February 2021	350,000			350,000
3.05% Series due June 2023	250,000			—
5.66% Series due February 2025	175,000			175,000
5.9% Series due June 2033	100,000			100,000
6.38% Series due November 2034	60,000			60,000
5.75% Series due November 2040	225,000			225,000
4.9% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			—
Total mortgage bonds	1,600,000			1,525,000
Governmental Bonds (a):
4.6% Series due 2017, Jefferson County (d)	—			54,700
1.55% Series due 2017, Jefferson County (d)	54,700			—
5.0% Series due 2021, Independence County (d)	—			45,000
2.38% Series due 2021, Independence County (d)	45,000			—
Total governmental bonds	99,700			99,700
Variable Interest Entity Notes Payable (Note 4):
9% Series H due June 2013	—			30,000
5.69% Series I due July 2014	70,000			70,000
3.23% Series J due July 2016	55,000			55,000
2.62% Series K due December 2017	60,000			60,000
Total variable interest entity notes payable	185,000			215,000
Securitization Bonds:
2.30% Series Senior Secured due August 2021	88,986			101,575
Total securitization bonds	88,986			101,575
Other:
Long-term DOE Obligation (b)	181,253			181,157
Term Loan due January 2015, weighted avg rate 1.13%	250,000			—
Unamortized Premium and Discount – Net	(1,242		)	(655		)
Other	2,105			2,118
Total Long-Term Debt	2,405,802			2,123,895
Less Amount Due Within One Year	70,000			330,000
Long-Term Debt Excluding Amount Due Within One Year		$2,335,802			$1,793,895
Fair Value of Long-Term Debt (c)		$2,142,527			$1,876,335

	2013			2012
	(In Thousands)
Entergy Gulf States Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$375,000			$375,000
3.95% Series due October 2020	250,000			250,000
5.59% Series due October 2024	300,000			300,000
6.2% Series due July 2033	240,000			240,000
6.18% Series due March 2035	85,000			85,000
Total mortgage bonds	1,250,000			1,250,000
Governmental Bonds (a):
2.875% Series due 2015, Louisiana Public Facilities Authority (d)	31,955			31,955
5.0% Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
Total governmental bonds	115,635			115,635
Variable Interest Entity Notes Payable (Note 4):
5.56% Series N due May 2013	—			75,000
3.25% Series Q due July 2017	75,000			75,000
3.38% Series R due August 2020	70,000			—
Credit Facility due June 2016, weighted avg rate 1.38%	14,800			—
Total variable interest entity notes payable	159,800			150,000
Other:
Unamortized Premium and Discount – Net	(1,574		)	(1,810		)
Other	3,604			3,604
Total Long-Term Debt	1,527,465			1,517,429
Less Amount Due Within One Year	—			75,000
Long-Term Debt Excluding Amount Due Within One Year		$1,527,465			$1,442,429
Fair Value of Long-Term Debt (c)		$1,631,308			$1,668,819

	2013			2012
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
1.875% Series due December 2014		$250,000			$250,000
6.50% Series due September 2018	300,000			300,000
4.8% Series due May 2021	200,000			200,000
3.3% Series due December 2022	200,000			200,000
4.05% Series due September 2023	325,000			—
5.40% Series due November 2024	400,000			400,000
4.44% Series due January 2026	250,000			250,000
6.4% Series due October 2034	70,000			70,000
6.3% Series due September 2035	100,000			100,000
6.0% Series due March 2040	150,000			150,000
5.875% Series due June 2041	150,000			150,000
5.25% Series due July 2052	200,000			200,000
4.7% Series due June 2063	100,000			—
Total mortgage bonds	2,695,000			2,270,000
Governmental Bonds (a):
5.0% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	115,000			115,000
Variable Interest Entity Notes Payable (Note 4):
5.69% Series E due July 2014	50,000			50,000
3.30% Series F due March 2016	20,000			20,000
3.25% Series G due July 2017	25,000			25,000
Total variable interest entity notes payable	95,000			95,000
Securitization Bonds:
2.04% Series Senior Secured due June 2021	164,993			181,584
Total securitization bonds	164,993			181,584
Other:
Waterford 3 Lease Obligation 7.45% (Note 10)	148,716			162,949
Unamortized Premium and Discount - Net	(2,962		)	(2,230		)
Other	3,769			3,792
Total Long-Term Debt	3,219,516			2,826,095
Less Amount Due Within One Year	320,231			14,236
Long-Term Debt Excluding Amount Due Within One Year		$2,899,285			$2,811,859
Fair Value of Long-Term Debt (c)		$3,148,877			$2,921,322

	2013			2012
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
5.15% Series due February 2013		$—			$100,000
3.25% Series due June 2016	125,000			125,000
4.95% Series due June 2018	95,000			95,000
6.64% Series due July 2019	150,000			150,000
3.1% Series due July 2023	250,000			250,000
6.0% Series due November 2032	75,000			75,000
6.25% Series due April 2034	100,000			100,000
6.20% Series due April 2040	80,000			80,000
6.0% Series due May 2051	150,000			150,000
Total mortgage bonds	1,025,000			1,125,000
Governmental Bonds (a):
4.60% Series due 2022, Mississippi Business Finance Corp.(d)	—			16,030
4.90% Series due 2022, Independence County (d)	30,000			30,000
Total governmental bonds	30,000			46,030
Other:
Unamortized Premium and Discount – Net	(1,330		)	(1,511		)
Total Long-Term Debt	1,053,670			1,169,519
Less Amount Due Within One Year	—			100,000
Long-Term Debt Excluding Amount Due Within One Year		$1,053,670			$1,069,519
Fair Value of Long-Term Debt (c)		$1,067,006			$1,230,714

	2013			2012
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.25% Series due August 2013		$—			$70,000
5.10% Series due December 2020	25,000			25,000
3.9% Series due July 2023	100,000			—
5.6% Series due September 2024	33,363			33,369
5.65% Series due September 2029	37,914			37,976
5.0% Series due December 2052	30,000			30,000
Total mortgage bonds	226,277			196,345
Other:
Unamortized Premium and Discount – Net	(333		)	(45		)
Total Long-Term Debt	225,944			196,300
Less Amount Due Within One Year	—			70,000
Long-Term Debt Excluding Amount Due Within One Year		$225,944			$126,300
Fair Value of Long-Term Debt (c)		$217,692			$200,725

	2013			2012
	(In Thousands)
Entergy Texas
Mortgage Bonds:
3.60% Series due June 2015		$200,000			$200,000
7.125% Series due February 2019	500,000			500,000
4.1% Series due September 2021	75,000			75,000
7.875% Series due June 2039	150,000			150,000
Total mortgage bonds	925,000			925,000
Securitization Bonds:
2.12% Series Senior Secured, Series A due February 2016	54,047			93,436
5.79% Series Senior Secured, Series A due October 2018	97,414			119,341
3.65% Series Senior Secured, Series A due August 2019	144,800			144,800
5.93% Series Senior Secured, Series A due June 2022	114,400			114,400
4.38% Series Senior Secured due November 2023	218,600			218,600
Total securitization bonds	629,261			690,577
Other:
Unamortized Premium and Discount - Net	(2,211		)	(2,653		)
Other	4,889			4,889
Total Long-Term Debt	1,556,939			1,617,813
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$1,556,939			$1,617,813
Fair Value of Long-Term Debt (c)		$1,726,623			$1,885,672

	2013			2012
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023		$250,000			$250,000
Total mortgage bonds	250,000			250,000
Governmental Bonds (a):
5.875% Series due 2022, Mississippi Business Finance Corp.	216,000			216,000
Total governmental bonds	216,000			216,000
Variable Interest Entity Notes Payable (Note 4):
6.29% Series F due September 2013	—			70,000
5.33% Series G due April 2015	60,000			60,000
4.02% Series H due February 2017	50,000			50,000
3.78% Series I due October 2018	85,000			—
Total variable interest entity notes payable	195,000			180,000
Other:
Grand Gulf Lease Obligation 5.13% (Note 10)	97,414			138,893
Unamortized Premium and Discount – Net	(981		)	(1,096		)
Other	3			2
Total Long-Term Debt	757,436			783,799
Less Amount Due Within One Year	48,653			111,854
Long-Term Debt Excluding Amount Due Within One Year		$708,783			$671,945
Fair Value of Long-Term Debt (c)		$664,890			$664,670

(a) Consists of pollution control revenue bonds and environmental revenue bonds.

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

(c) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy and long-term DOE obligations of $181 million at Entergy Arkansas, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) The bonds are secured by a series of collateral first mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans	Entergy Texas		System Energy
2014		$70,000	—			$300,000	—		—	—		—
2015		$250,000		$31,955	—		—		—		$200,000		$60,000
2016		$55,000		$14,800		$20,000		$125,000	—		$54,047	—
2017		$114,700		$75,000		$25,000	—		—	—			$50,000
2018		$115,000		$375,000		$300,000		$95,000	—		$97,414		$85,000

Entergy Arkansas Securitization Bonds

In June 2010, the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs.  In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds.  The bonds have a coupon of 2.30% and an expected maturity date of August 2021.  Although the principal amount is not due until the date given above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $12.8 million for 2014, $13.2 million for 2015, $13.4 million for 2016, $13.8 million for 2017, and $14.1 million for 2018.  With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds.  The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet.  The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas.  Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections.

Entergy Louisiana Securitization Bonds – Little Gypsy

In August 2011, the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the cancelled Little Gypsy repowering project.  In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds.  The bonds have an interest rate of 2.04% and an expected maturity date of June 2021.  Although the principal amount is not due until the date given above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.9 million for 2014, $20.5 million for 2015, $21.6 million for 2016, $21.7 million for 2017, and $22.3 million for 2018.  With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds.  In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs.  The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet.  The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana.  Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections.

Entergy Texas Securitization Bonds - Hurricane Rita

In April 2007, the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits.  In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds, Series A:
Tranche A-1 (5.51%) due October 2013		$93,500
Tranche A-2 (5.79%) due October 2018	121,600
Tranche A-3 (5.93%) due June 2022	114,400
Total senior secured transition bonds		$329,500

Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $23.2 million for 2014, $24.6 million for 2015, $26.0 million for 2016, $27.6 million for 2017, and $29.2 million for 2018.  All of the scheduled principal payments for 2014-2016 are for Tranche A-2, $23.6 million of the scheduled principal payments for 2017 are for Tranche A-2 and  $4.0 million of the scheduled principal payments for 2017 are for Tranche A-3. All of the scheduled principal payments for 2018 are for Tranche A-3.

With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009, the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds
Tranche A-1 (2.12%) due February 2016		$182,500
Tranche A-2 (3.65%) due August 2019	144,800
Tranche A-3 (4.38%) due November 2023	218,600
Total senior secured transition bonds		$545,900

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $40.2 million for 2014, $41.2 million for 2015, $42.6 million for 2016, $44.1 million for 2017, and $45.8 million for 2018.  All of the scheduled principal payments for 2014 are for Tranche A-1, $13.8 million of the scheduled principal payments for 2015 are for Tranche A-1 and $27.4 million are for Tranche A-2. All of the scheduled principal payments for 2016-2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15.0 million are for Tranche A-3.

With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections.

Entergy Gulf States Louisiana [Member]

Long - Term Debt

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

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2013 and 2012 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2013	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2013	2012	2013			2012
				(In Thousands)
Mortgage Bonds
2013-2018	5.43%	1.88%-6.50%	1.88%-6.50%		$1,460,000			$1,930,000
2019-2023	4.24%	3.05%-7.13%	3.10%-7.13%	2,925,000			2,250,000
2024-2028	5.27%	4.44%-5.66%	4.44%-5.66%	1,158,363			1,158,369
2029-2038	6.18%	5.65%-6.40%	5.65%-6.40%	867,914			867,976
2039-2063	5.55%	4.70%-7.88%	4.90%-7.88%	1,560,000			1,335,000
Governmental Bonds (a)
2013-2018	1.84%	1.55%-2.88%	2.88%-4.60%	86,655			86,655
2019-2023	5.30%	2.38%-5.88%	4.60%-5.88%	291,000			307,030
2024-2031	5.00%	5.00%	5.00%	198,680			198,680
Securitization Bonds
2014-2021	2.92%	2.04%-5.79%	2.12%-5.79%	550,243			459,152
2022-2024	4.86%	4.38%-5.93%	2.04%-5.93%	333,000			514,584
Variable Interest Entities Notes Payable (Note 4)
2013-2020	3.50%	1.38%-5.69%	2.62%-9.00%	634,800			640,000
Entergy Corporation Notes
due September 2015	n/a	3.625%	3.625%	550,000			550,000
due January 2017	n/a	4.70%	4.70%	500,000			500,000
due September 2020	n/a	5.125%	5.125%	450,000			450,000
Note Payable to NYPA	(b)	(b)	(b)	95,011			109,679
5 Year Credit Facility (Note 4)	n/a	1.96%	2.04%	255,000			795,000
Long-term DOE Obligation (c)	—	—	—	181,253			181,157
Waterford 3 Lease Obligation (d)	n/a	7.45%	7.45%	148,716			162,949
Grand Gulf Lease Obligation (d)	n/a	5.13%	5.13%	97,414			138,893
Term Loan - Entergy Arkansas	n/a	1.13%	—	250,000			—
Unamortized Premium and Discount - Net				(11,172		)	(10,744		)
Other				14,367			14,454
Total Long-Term Debt				12,596,244			12,638,834
Less Amount Due Within One Year				457,095			718,516
Long-Term Debt Excluding Amount Due Within One Year					$12,139,149			$11,920,318
Fair Value of Long-Term Debt (e)					$12,439,785			$12,849,330

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

(b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.

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

(d) See Note 10 to the financial statements for further discussion of the Waterford 3 and Grand Gulf lease obligations.

(e) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $95 million at Entergy, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Amount
	(In Thousands)
2014		$385,373
2015		$1,110,566
2016		$270,852
2017		$766,801
2018		$1,324,616

In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction.  Entergy issued notes to NYPA with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing.  These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.  In accordance with the purchase agreement with NYPA, the purchase of Indian Point 2 in 2001 resulted in Entergy becoming liable to NYPA for an additional $10 million per year for 10 years, beginning in September 2003.  This liability was recorded upon the purchase of Indian Point 2 in September 2001. In July 2003 a payment of $102 million was made prior to maturity on the note payable to NYPA.  Under a provision in a letter of credit supporting these notes, if certain of the Utility operating companies or System Energy were to default on other indebtedness, Entergy could be required to post collateral to support the letter of credit.

Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015.  Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014.

Capital Funds Agreement

Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to:

• maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt);

• permit the continued commercial operation of Grand Gulf;

• pay in full all System Energy indebtedness for borrowed money when due; and

• enable System Energy to make payments on specific System Energy debt, under supplements to the agreement assigning System Energy’s rights in the agreement as security for the specific debt.

Long-term debt for the Registrant Subsidiaries as of December 31, 2013 and 2012 consisted of:

	2013			2012
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
5.40% Series due August 2013		$—			$300,000
5.0% Series due July 2018	115,000			115,000
3.75% Series due February 2021	350,000			350,000
3.05% Series due June 2023	250,000			—
5.66% Series due February 2025	175,000			175,000
5.9% Series due June 2033	100,000			100,000
6.38% Series due November 2034	60,000			60,000
5.75% Series due November 2040	225,000			225,000
4.9% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			—
Total mortgage bonds	1,600,000			1,525,000
Governmental Bonds (a):
4.6% Series due 2017, Jefferson County (d)	—			54,700
1.55% Series due 2017, Jefferson County (d)	54,700			—
5.0% Series due 2021, Independence County (d)	—			45,000
2.38% Series due 2021, Independence County (d)	45,000			—
Total governmental bonds	99,700			99,700
Variable Interest Entity Notes Payable (Note 4):
9% Series H due June 2013	—			30,000
5.69% Series I due July 2014	70,000			70,000
3.23% Series J due July 2016	55,000			55,000
2.62% Series K due December 2017	60,000			60,000
Total variable interest entity notes payable	185,000			215,000
Securitization Bonds:
2.30% Series Senior Secured due August 2021	88,986			101,575
Total securitization bonds	88,986			101,575
Other:
Long-term DOE Obligation (b)	181,253			181,157
Term Loan due January 2015, weighted avg rate 1.13%	250,000			—
Unamortized Premium and Discount – Net	(1,242		)	(655		)
Other	2,105			2,118
Total Long-Term Debt	2,405,802			2,123,895
Less Amount Due Within One Year	70,000			330,000
Long-Term Debt Excluding Amount Due Within One Year		$2,335,802			$1,793,895
Fair Value of Long-Term Debt (c)		$2,142,527			$1,876,335

	2013			2012
	(In Thousands)
Entergy Gulf States Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$375,000			$375,000
3.95% Series due October 2020	250,000			250,000
5.59% Series due October 2024	300,000			300,000
6.2% Series due July 2033	240,000			240,000
6.18% Series due March 2035	85,000			85,000
Total mortgage bonds	1,250,000			1,250,000
Governmental Bonds (a):
2.875% Series due 2015, Louisiana Public Facilities Authority (d)	31,955			31,955
5.0% Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
Total governmental bonds	115,635			115,635
Variable Interest Entity Notes Payable (Note 4):
5.56% Series N due May 2013	—			75,000
3.25% Series Q due July 2017	75,000			75,000
3.38% Series R due August 2020	70,000			—
Credit Facility due June 2016, weighted avg rate 1.38%	14,800			—
Total variable interest entity notes payable	159,800			150,000
Other:
Unamortized Premium and Discount – Net	(1,574		)	(1,810		)
Other	3,604			3,604
Total Long-Term Debt	1,527,465			1,517,429
Less Amount Due Within One Year	—			75,000
Long-Term Debt Excluding Amount Due Within One Year		$1,527,465			$1,442,429
Fair Value of Long-Term Debt (c)		$1,631,308			$1,668,819

	2013			2012
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
1.875% Series due December 2014		$250,000			$250,000
6.50% Series due September 2018	300,000			300,000
4.8% Series due May 2021	200,000			200,000
3.3% Series due December 2022	200,000			200,000
4.05% Series due September 2023	325,000			—
5.40% Series due November 2024	400,000			400,000
4.44% Series due January 2026	250,000			250,000
6.4% Series due October 2034	70,000			70,000
6.3% Series due September 2035	100,000			100,000
6.0% Series due March 2040	150,000			150,000
5.875% Series due June 2041	150,000			150,000
5.25% Series due July 2052	200,000			200,000
4.7% Series due June 2063	100,000			—
Total mortgage bonds	2,695,000			2,270,000
Governmental Bonds (a):
5.0% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	115,000			115,000
Variable Interest Entity Notes Payable (Note 4):
5.69% Series E due July 2014	50,000			50,000
3.30% Series F due March 2016	20,000			20,000
3.25% Series G due July 2017	25,000			25,000
Total variable interest entity notes payable	95,000			95,000
Securitization Bonds:
2.04% Series Senior Secured due June 2021	164,993			181,584
Total securitization bonds	164,993			181,584
Other:
Waterford 3 Lease Obligation 7.45% (Note 10)	148,716			162,949
Unamortized Premium and Discount - Net	(2,962		)	(2,230		)
Other	3,769			3,792
Total Long-Term Debt	3,219,516			2,826,095
Less Amount Due Within One Year	320,231			14,236
Long-Term Debt Excluding Amount Due Within One Year		$2,899,285			$2,811,859
Fair Value of Long-Term Debt (c)		$3,148,877			$2,921,322

	2013			2012
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
5.15% Series due February 2013		$—			$100,000
3.25% Series due June 2016	125,000			125,000
4.95% Series due June 2018	95,000			95,000
6.64% Series due July 2019	150,000			150,000
3.1% Series due July 2023	250,000			250,000
6.0% Series due November 2032	75,000			75,000
6.25% Series due April 2034	100,000			100,000
6.20% Series due April 2040	80,000			80,000
6.0% Series due May 2051	150,000			150,000
Total mortgage bonds	1,025,000			1,125,000
Governmental Bonds (a):
4.60% Series due 2022, Mississippi Business Finance Corp.(d)	—			16,030
4.90% Series due 2022, Independence County (d)	30,000			30,000
Total governmental bonds	30,000			46,030
Other:
Unamortized Premium and Discount – Net	(1,330		)	(1,511		)
Total Long-Term Debt	1,053,670			1,169,519
Less Amount Due Within One Year	—			100,000
Long-Term Debt Excluding Amount Due Within One Year		$1,053,670			$1,069,519
Fair Value of Long-Term Debt (c)		$1,067,006			$1,230,714

	2013			2012
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.25% Series due August 2013		$—			$70,000
5.10% Series due December 2020	25,000			25,000
3.9% Series due July 2023	100,000			—
5.6% Series due September 2024	33,363			33,369
5.65% Series due September 2029	37,914			37,976
5.0% Series due December 2052	30,000			30,000
Total mortgage bonds	226,277			196,345
Other:
Unamortized Premium and Discount – Net	(333		)	(45		)
Total Long-Term Debt	225,944			196,300
Less Amount Due Within One Year	—			70,000
Long-Term Debt Excluding Amount Due Within One Year		$225,944			$126,300
Fair Value of Long-Term Debt (c)		$217,692			$200,725

	2013			2012
	(In Thousands)
Entergy Texas
Mortgage Bonds:
3.60% Series due June 2015		$200,000			$200,000
7.125% Series due February 2019	500,000			500,000
4.1% Series due September 2021	75,000			75,000
7.875% Series due June 2039	150,000			150,000
Total mortgage bonds	925,000			925,000
Securitization Bonds:
2.12% Series Senior Secured, Series A due February 2016	54,047			93,436
5.79% Series Senior Secured, Series A due October 2018	97,414			119,341
3.65% Series Senior Secured, Series A due August 2019	144,800			144,800
5.93% Series Senior Secured, Series A due June 2022	114,400			114,400
4.38% Series Senior Secured due November 2023	218,600			218,600
Total securitization bonds	629,261			690,577
Other:
Unamortized Premium and Discount - Net	(2,211		)	(2,653		)
Other	4,889			4,889
Total Long-Term Debt	1,556,939			1,617,813
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$1,556,939			$1,617,813
Fair Value of Long-Term Debt (c)		$1,726,623			$1,885,672

	2013			2012
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023		$250,000			$250,000
Total mortgage bonds	250,000			250,000
Governmental Bonds (a):
5.875% Series due 2022, Mississippi Business Finance Corp.	216,000			216,000
Total governmental bonds	216,000			216,000
Variable Interest Entity Notes Payable (Note 4):
6.29% Series F due September 2013	—			70,000
5.33% Series G due April 2015	60,000			60,000
4.02% Series H due February 2017	50,000			50,000
3.78% Series I due October 2018	85,000			—
Total variable interest entity notes payable	195,000			180,000
Other:
Grand Gulf Lease Obligation 5.13% (Note 10)	97,414			138,893
Unamortized Premium and Discount – Net	(981		)	(1,096		)
Other	3			2
Total Long-Term Debt	757,436			783,799
Less Amount Due Within One Year	48,653			111,854
Long-Term Debt Excluding Amount Due Within One Year		$708,783			$671,945
Fair Value of Long-Term Debt (c)		$664,890			$664,670

(a) Consists of pollution control revenue bonds and environmental revenue bonds.

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

(c) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy and long-term DOE obligations of $181 million at Entergy Arkansas, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) The bonds are secured by a series of collateral first mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans	Entergy Texas		System Energy
2014		$70,000	—			$300,000	—		—	—		—
2015		$250,000		$31,955	—		—		—		$200,000		$60,000
2016		$55,000		$14,800		$20,000		$125,000	—		$54,047	—
2017		$114,700		$75,000		$25,000	—		—	—			$50,000
2018		$115,000		$375,000		$300,000		$95,000	—		$97,414		$85,000

Entergy Arkansas Securitization Bonds

In June 2010, the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs.  In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds.  The bonds have a coupon of 2.30% and an expected maturity date of August 2021.  Although the principal amount is not due until the date given above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $12.8 million for 2014, $13.2 million for 2015, $13.4 million for 2016, $13.8 million for 2017, and $14.1 million for 2018.  With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds.  The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet.  The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas.  Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections.

Entergy Louisiana Securitization Bonds – Little Gypsy

In August 2011, the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the cancelled Little Gypsy repowering project.  In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds.  The bonds have an interest rate of 2.04% and an expected maturity date of June 2021.  Although the principal amount is not due until the date given above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.9 million for 2014, $20.5 million for 2015, $21.6 million for 2016, $21.7 million for 2017, and $22.3 million for 2018.  With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds.  In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs.  The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet.  The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana.  Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections.

Entergy Texas Securitization Bonds - Hurricane Rita

In April 2007, the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits.  In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds, Series A:
Tranche A-1 (5.51%) due October 2013		$93,500
Tranche A-2 (5.79%) due October 2018	121,600
Tranche A-3 (5.93%) due June 2022	114,400
Total senior secured transition bonds		$329,500

Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $23.2 million for 2014, $24.6 million for 2015, $26.0 million for 2016, $27.6 million for 2017, and $29.2 million for 2018.  All of the scheduled principal payments for 2014-2016 are for Tranche A-2, $23.6 million of the scheduled principal payments for 2017 are for Tranche A-2 and  $4.0 million of the scheduled principal payments for 2017 are for Tranche A-3. All of the scheduled principal payments for 2018 are for Tranche A-3.

With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009, the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds
Tranche A-1 (2.12%) due February 2016		$182,500
Tranche A-2 (3.65%) due August 2019	144,800
Tranche A-3 (4.38%) due November 2023	218,600
Total senior secured transition bonds		$545,900

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $40.2 million for 2014, $41.2 million for 2015, $42.6 million for 2016, $44.1 million for 2017, and $45.8 million for 2018.  All of the scheduled principal payments for 2014 are for Tranche A-1, $13.8 million of the scheduled principal payments for 2015 are for Tranche A-1 and $27.4 million are for Tranche A-2. All of the scheduled principal payments for 2016-2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15.0 million are for Tranche A-3.

With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections.

Entergy Louisiana [Member]

Long - Term Debt

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

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2013 and 2012 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2013	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2013	2012	2013			2012
				(In Thousands)
Mortgage Bonds
2013-2018	5.43%	1.88%-6.50%	1.88%-6.50%		$1,460,000			$1,930,000
2019-2023	4.24%	3.05%-7.13%	3.10%-7.13%	2,925,000			2,250,000
2024-2028	5.27%	4.44%-5.66%	4.44%-5.66%	1,158,363			1,158,369
2029-2038	6.18%	5.65%-6.40%	5.65%-6.40%	867,914			867,976
2039-2063	5.55%	4.70%-7.88%	4.90%-7.88%	1,560,000			1,335,000
Governmental Bonds (a)
2013-2018	1.84%	1.55%-2.88%	2.88%-4.60%	86,655			86,655
2019-2023	5.30%	2.38%-5.88%	4.60%-5.88%	291,000			307,030
2024-2031	5.00%	5.00%	5.00%	198,680			198,680
Securitization Bonds
2014-2021	2.92%	2.04%-5.79%	2.12%-5.79%	550,243			459,152
2022-2024	4.86%	4.38%-5.93%	2.04%-5.93%	333,000			514,584
Variable Interest Entities Notes Payable (Note 4)
2013-2020	3.50%	1.38%-5.69%	2.62%-9.00%	634,800			640,000
Entergy Corporation Notes
due September 2015	n/a	3.625%	3.625%	550,000			550,000
due January 2017	n/a	4.70%	4.70%	500,000			500,000
due September 2020	n/a	5.125%	5.125%	450,000			450,000
Note Payable to NYPA	(b)	(b)	(b)	95,011			109,679
5 Year Credit Facility (Note 4)	n/a	1.96%	2.04%	255,000			795,000
Long-term DOE Obligation (c)	—	—	—	181,253			181,157
Waterford 3 Lease Obligation (d)	n/a	7.45%	7.45%	148,716			162,949
Grand Gulf Lease Obligation (d)	n/a	5.13%	5.13%	97,414			138,893
Term Loan - Entergy Arkansas	n/a	1.13%	—	250,000			—
Unamortized Premium and Discount - Net				(11,172		)	(10,744		)
Other				14,367			14,454
Total Long-Term Debt				12,596,244			12,638,834
Less Amount Due Within One Year				457,095			718,516
Long-Term Debt Excluding Amount Due Within One Year					$12,139,149			$11,920,318
Fair Value of Long-Term Debt (e)					$12,439,785			$12,849,330

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

(b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.

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

(d) See Note 10 to the financial statements for further discussion of the Waterford 3 and Grand Gulf lease obligations.

(e) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $95 million at Entergy, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Amount
	(In Thousands)
2014		$385,373
2015		$1,110,566
2016		$270,852
2017		$766,801
2018		$1,324,616

In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction.  Entergy issued notes to NYPA with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing.  These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.  In accordance with the purchase agreement with NYPA, the purchase of Indian Point 2 in 2001 resulted in Entergy becoming liable to NYPA for an additional $10 million per year for 10 years, beginning in September 2003.  This liability was recorded upon the purchase of Indian Point 2 in September 2001. In July 2003 a payment of $102 million was made prior to maturity on the note payable to NYPA.  Under a provision in a letter of credit supporting these notes, if certain of the Utility operating companies or System Energy were to default on other indebtedness, Entergy could be required to post collateral to support the letter of credit.

Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015.  Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014.

Capital Funds Agreement

Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to:

• maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt);

• permit the continued commercial operation of Grand Gulf;

• pay in full all System Energy indebtedness for borrowed money when due; and

• enable System Energy to make payments on specific System Energy debt, under supplements to the agreement assigning System Energy’s rights in the agreement as security for the specific debt.

Long-term debt for the Registrant Subsidiaries as of December 31, 2013 and 2012 consisted of:

	2013			2012
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
5.40% Series due August 2013		$—			$300,000
5.0% Series due July 2018	115,000			115,000
3.75% Series due February 2021	350,000			350,000
3.05% Series due June 2023	250,000			—
5.66% Series due February 2025	175,000			175,000
5.9% Series due June 2033	100,000			100,000
6.38% Series due November 2034	60,000			60,000
5.75% Series due November 2040	225,000			225,000
4.9% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			—
Total mortgage bonds	1,600,000			1,525,000
Governmental Bonds (a):
4.6% Series due 2017, Jefferson County (d)	—			54,700
1.55% Series due 2017, Jefferson County (d)	54,700			—
5.0% Series due 2021, Independence County (d)	—			45,000
2.38% Series due 2021, Independence County (d)	45,000			—
Total governmental bonds	99,700			99,700
Variable Interest Entity Notes Payable (Note 4):
9% Series H due June 2013	—			30,000
5.69% Series I due July 2014	70,000			70,000
3.23% Series J due July 2016	55,000			55,000
2.62% Series K due December 2017	60,000			60,000
Total variable interest entity notes payable	185,000			215,000
Securitization Bonds:
2.30% Series Senior Secured due August 2021	88,986			101,575
Total securitization bonds	88,986			101,575
Other:
Long-term DOE Obligation (b)	181,253			181,157
Term Loan due January 2015, weighted avg rate 1.13%	250,000			—
Unamortized Premium and Discount – Net	(1,242		)	(655		)
Other	2,105			2,118
Total Long-Term Debt	2,405,802			2,123,895
Less Amount Due Within One Year	70,000			330,000
Long-Term Debt Excluding Amount Due Within One Year		$2,335,802			$1,793,895
Fair Value of Long-Term Debt (c)		$2,142,527			$1,876,335

	2013			2012
	(In Thousands)
Entergy Gulf States Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$375,000			$375,000
3.95% Series due October 2020	250,000			250,000
5.59% Series due October 2024	300,000			300,000
6.2% Series due July 2033	240,000			240,000
6.18% Series due March 2035	85,000			85,000
Total mortgage bonds	1,250,000			1,250,000
Governmental Bonds (a):
2.875% Series due 2015, Louisiana Public Facilities Authority (d)	31,955			31,955
5.0% Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
Total governmental bonds	115,635			115,635
Variable Interest Entity Notes Payable (Note 4):
5.56% Series N due May 2013	—			75,000
3.25% Series Q due July 2017	75,000			75,000
3.38% Series R due August 2020	70,000			—
Credit Facility due June 2016, weighted avg rate 1.38%	14,800			—
Total variable interest entity notes payable	159,800			150,000
Other:
Unamortized Premium and Discount – Net	(1,574		)	(1,810		)
Other	3,604			3,604
Total Long-Term Debt	1,527,465			1,517,429
Less Amount Due Within One Year	—			75,000
Long-Term Debt Excluding Amount Due Within One Year		$1,527,465			$1,442,429
Fair Value of Long-Term Debt (c)		$1,631,308			$1,668,819

	2013			2012
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
1.875% Series due December 2014		$250,000			$250,000
6.50% Series due September 2018	300,000			300,000
4.8% Series due May 2021	200,000			200,000
3.3% Series due December 2022	200,000			200,000
4.05% Series due September 2023	325,000			—
5.40% Series due November 2024	400,000			400,000
4.44% Series due January 2026	250,000			250,000
6.4% Series due October 2034	70,000			70,000
6.3% Series due September 2035	100,000			100,000
6.0% Series due March 2040	150,000			150,000
5.875% Series due June 2041	150,000			150,000
5.25% Series due July 2052	200,000			200,000
4.7% Series due June 2063	100,000			—
Total mortgage bonds	2,695,000			2,270,000
Governmental Bonds (a):
5.0% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	115,000			115,000
Variable Interest Entity Notes Payable (Note 4):
5.69% Series E due July 2014	50,000			50,000
3.30% Series F due March 2016	20,000			20,000
3.25% Series G due July 2017	25,000			25,000
Total variable interest entity notes payable	95,000			95,000
Securitization Bonds:
2.04% Series Senior Secured due June 2021	164,993			181,584
Total securitization bonds	164,993			181,584
Other:
Waterford 3 Lease Obligation 7.45% (Note 10)	148,716			162,949
Unamortized Premium and Discount - Net	(2,962		)	(2,230		)
Other	3,769			3,792
Total Long-Term Debt	3,219,516			2,826,095
Less Amount Due Within One Year	320,231			14,236
Long-Term Debt Excluding Amount Due Within One Year		$2,899,285			$2,811,859
Fair Value of Long-Term Debt (c)		$3,148,877			$2,921,322

	2013			2012
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
5.15% Series due February 2013		$—			$100,000
3.25% Series due June 2016	125,000			125,000
4.95% Series due June 2018	95,000			95,000
6.64% Series due July 2019	150,000			150,000
3.1% Series due July 2023	250,000			250,000
6.0% Series due November 2032	75,000			75,000
6.25% Series due April 2034	100,000			100,000
6.20% Series due April 2040	80,000			80,000
6.0% Series due May 2051	150,000			150,000
Total mortgage bonds	1,025,000			1,125,000
Governmental Bonds (a):
4.60% Series due 2022, Mississippi Business Finance Corp.(d)	—			16,030
4.90% Series due 2022, Independence County (d)	30,000			30,000
Total governmental bonds	30,000			46,030
Other:
Unamortized Premium and Discount – Net	(1,330		)	(1,511		)
Total Long-Term Debt	1,053,670			1,169,519
Less Amount Due Within One Year	—			100,000
Long-Term Debt Excluding Amount Due Within One Year		$1,053,670			$1,069,519
Fair Value of Long-Term Debt (c)		$1,067,006			$1,230,714

	2013			2012
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.25% Series due August 2013		$—			$70,000
5.10% Series due December 2020	25,000			25,000
3.9% Series due July 2023	100,000			—
5.6% Series due September 2024	33,363			33,369
5.65% Series due September 2029	37,914			37,976
5.0% Series due December 2052	30,000			30,000
Total mortgage bonds	226,277			196,345
Other:
Unamortized Premium and Discount – Net	(333		)	(45		)
Total Long-Term Debt	225,944			196,300
Less Amount Due Within One Year	—			70,000
Long-Term Debt Excluding Amount Due Within One Year		$225,944			$126,300
Fair Value of Long-Term Debt (c)		$217,692			$200,725

	2013			2012
	(In Thousands)
Entergy Texas
Mortgage Bonds:
3.60% Series due June 2015		$200,000			$200,000
7.125% Series due February 2019	500,000			500,000
4.1% Series due September 2021	75,000			75,000
7.875% Series due June 2039	150,000			150,000
Total mortgage bonds	925,000			925,000
Securitization Bonds:
2.12% Series Senior Secured, Series A due February 2016	54,047			93,436
5.79% Series Senior Secured, Series A due October 2018	97,414			119,341
3.65% Series Senior Secured, Series A due August 2019	144,800			144,800
5.93% Series Senior Secured, Series A due June 2022	114,400			114,400
4.38% Series Senior Secured due November 2023	218,600			218,600
Total securitization bonds	629,261			690,577
Other:
Unamortized Premium and Discount - Net	(2,211		)	(2,653		)
Other	4,889			4,889
Total Long-Term Debt	1,556,939			1,617,813
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$1,556,939			$1,617,813
Fair Value of Long-Term Debt (c)		$1,726,623			$1,885,672

	2013			2012
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023		$250,000			$250,000
Total mortgage bonds	250,000			250,000
Governmental Bonds (a):
5.875% Series due 2022, Mississippi Business Finance Corp.	216,000			216,000
Total governmental bonds	216,000			216,000
Variable Interest Entity Notes Payable (Note 4):
6.29% Series F due September 2013	—			70,000
5.33% Series G due April 2015	60,000			60,000
4.02% Series H due February 2017	50,000			50,000
3.78% Series I due October 2018	85,000			—
Total variable interest entity notes payable	195,000			180,000
Other:
Grand Gulf Lease Obligation 5.13% (Note 10)	97,414			138,893
Unamortized Premium and Discount – Net	(981		)	(1,096		)
Other	3			2
Total Long-Term Debt	757,436			783,799
Less Amount Due Within One Year	48,653			111,854
Long-Term Debt Excluding Amount Due Within One Year		$708,783			$671,945
Fair Value of Long-Term Debt (c)		$664,890			$664,670

(a) Consists of pollution control revenue bonds and environmental revenue bonds.

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

(c) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy and long-term DOE obligations of $181 million at Entergy Arkansas, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) The bonds are secured by a series of collateral first mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans	Entergy Texas		System Energy
2014		$70,000	—			$300,000	—		—	—		—
2015		$250,000		$31,955	—		—		—		$200,000		$60,000
2016		$55,000		$14,800		$20,000		$125,000	—		$54,047	—
2017		$114,700		$75,000		$25,000	—		—	—			$50,000
2018		$115,000		$375,000		$300,000		$95,000	—		$97,414		$85,000

Entergy Arkansas Securitization Bonds

In June 2010, the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs.  In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds.  The bonds have a coupon of 2.30% and an expected maturity date of August 2021.  Although the principal amount is not due until the date given above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $12.8 million for 2014, $13.2 million for 2015, $13.4 million for 2016, $13.8 million for 2017, and $14.1 million for 2018.  With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds.  The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet.  The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas.  Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections.

Entergy Louisiana Securitization Bonds – Little Gypsy

In August 2011, the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the cancelled Little Gypsy repowering project.  In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds.  The bonds have an interest rate of 2.04% and an expected maturity date of June 2021.  Although the principal amount is not due until the date given above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.9 million for 2014, $20.5 million for 2015, $21.6 million for 2016, $21.7 million for 2017, and $22.3 million for 2018.  With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds.  In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs.  The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet.  The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana.  Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections.

Entergy Texas Securitization Bonds - Hurricane Rita

In April 2007, the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits.  In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds, Series A:
Tranche A-1 (5.51%) due October 2013		$93,500
Tranche A-2 (5.79%) due October 2018	121,600
Tranche A-3 (5.93%) due June 2022	114,400
Total senior secured transition bonds		$329,500

Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $23.2 million for 2014, $24.6 million for 2015, $26.0 million for 2016, $27.6 million for 2017, and $29.2 million for 2018.  All of the scheduled principal payments for 2014-2016 are for Tranche A-2, $23.6 million of the scheduled principal payments for 2017 are for Tranche A-2 and  $4.0 million of the scheduled principal payments for 2017 are for Tranche A-3. All of the scheduled principal payments for 2018 are for Tranche A-3.

With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009, the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds
Tranche A-1 (2.12%) due February 2016		$182,500
Tranche A-2 (3.65%) due August 2019	144,800
Tranche A-3 (4.38%) due November 2023	218,600
Total senior secured transition bonds		$545,900

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $40.2 million for 2014, $41.2 million for 2015, $42.6 million for 2016, $44.1 million for 2017, and $45.8 million for 2018.  All of the scheduled principal payments for 2014 are for Tranche A-1, $13.8 million of the scheduled principal payments for 2015 are for Tranche A-1 and $27.4 million are for Tranche A-2. All of the scheduled principal payments for 2016-2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15.0 million are for Tranche A-3.

With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections.

Entergy Mississippi [Member]

Long - Term Debt

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

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2013 and 2012 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2013	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2013	2012	2013			2012
				(In Thousands)
Mortgage Bonds
2013-2018	5.43%	1.88%-6.50%	1.88%-6.50%		$1,460,000			$1,930,000
2019-2023	4.24%	3.05%-7.13%	3.10%-7.13%	2,925,000			2,250,000
2024-2028	5.27%	4.44%-5.66%	4.44%-5.66%	1,158,363			1,158,369
2029-2038	6.18%	5.65%-6.40%	5.65%-6.40%	867,914			867,976
2039-2063	5.55%	4.70%-7.88%	4.90%-7.88%	1,560,000			1,335,000
Governmental Bonds (a)
2013-2018	1.84%	1.55%-2.88%	2.88%-4.60%	86,655			86,655
2019-2023	5.30%	2.38%-5.88%	4.60%-5.88%	291,000			307,030
2024-2031	5.00%	5.00%	5.00%	198,680			198,680
Securitization Bonds
2014-2021	2.92%	2.04%-5.79%	2.12%-5.79%	550,243			459,152
2022-2024	4.86%	4.38%-5.93%	2.04%-5.93%	333,000			514,584
Variable Interest Entities Notes Payable (Note 4)
2013-2020	3.50%	1.38%-5.69%	2.62%-9.00%	634,800			640,000
Entergy Corporation Notes
due September 2015	n/a	3.625%	3.625%	550,000			550,000
due January 2017	n/a	4.70%	4.70%	500,000			500,000
due September 2020	n/a	5.125%	5.125%	450,000			450,000
Note Payable to NYPA	(b)	(b)	(b)	95,011			109,679
5 Year Credit Facility (Note 4)	n/a	1.96%	2.04%	255,000			795,000
Long-term DOE Obligation (c)	—	—	—	181,253			181,157
Waterford 3 Lease Obligation (d)	n/a	7.45%	7.45%	148,716			162,949
Grand Gulf Lease Obligation (d)	n/a	5.13%	5.13%	97,414			138,893
Term Loan - Entergy Arkansas	n/a	1.13%	—	250,000			—
Unamortized Premium and Discount - Net				(11,172		)	(10,744		)
Other				14,367			14,454
Total Long-Term Debt				12,596,244			12,638,834
Less Amount Due Within One Year				457,095			718,516
Long-Term Debt Excluding Amount Due Within One Year					$12,139,149			$11,920,318
Fair Value of Long-Term Debt (e)					$12,439,785			$12,849,330

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

(b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.

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

(d) See Note 10 to the financial statements for further discussion of the Waterford 3 and Grand Gulf lease obligations.

(e) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $95 million at Entergy, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Amount
	(In Thousands)
2014		$385,373
2015		$1,110,566
2016		$270,852
2017		$766,801
2018		$1,324,616

In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction.  Entergy issued notes to NYPA with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing.  These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.  In accordance with the purchase agreement with NYPA, the purchase of Indian Point 2 in 2001 resulted in Entergy becoming liable to NYPA for an additional $10 million per year for 10 years, beginning in September 2003.  This liability was recorded upon the purchase of Indian Point 2 in September 2001. In July 2003 a payment of $102 million was made prior to maturity on the note payable to NYPA.  Under a provision in a letter of credit supporting these notes, if certain of the Utility operating companies or System Energy were to default on other indebtedness, Entergy could be required to post collateral to support the letter of credit.

Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015.  Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014.

Capital Funds Agreement

Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to:

• maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt);

• permit the continued commercial operation of Grand Gulf;

• pay in full all System Energy indebtedness for borrowed money when due; and

• enable System Energy to make payments on specific System Energy debt, under supplements to the agreement assigning System Energy’s rights in the agreement as security for the specific debt.

Long-term debt for the Registrant Subsidiaries as of December 31, 2013 and 2012 consisted of:

	2013			2012
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
5.40% Series due August 2013		$—			$300,000
5.0% Series due July 2018	115,000			115,000
3.75% Series due February 2021	350,000			350,000
3.05% Series due June 2023	250,000			—
5.66% Series due February 2025	175,000			175,000
5.9% Series due June 2033	100,000			100,000
6.38% Series due November 2034	60,000			60,000
5.75% Series due November 2040	225,000			225,000
4.9% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			—
Total mortgage bonds	1,600,000			1,525,000
Governmental Bonds (a):
4.6% Series due 2017, Jefferson County (d)	—			54,700
1.55% Series due 2017, Jefferson County (d)	54,700			—
5.0% Series due 2021, Independence County (d)	—			45,000
2.38% Series due 2021, Independence County (d)	45,000			—
Total governmental bonds	99,700			99,700
Variable Interest Entity Notes Payable (Note 4):
9% Series H due June 2013	—			30,000
5.69% Series I due July 2014	70,000			70,000
3.23% Series J due July 2016	55,000			55,000
2.62% Series K due December 2017	60,000			60,000
Total variable interest entity notes payable	185,000			215,000
Securitization Bonds:
2.30% Series Senior Secured due August 2021	88,986			101,575
Total securitization bonds	88,986			101,575
Other:
Long-term DOE Obligation (b)	181,253			181,157
Term Loan due January 2015, weighted avg rate 1.13%	250,000			—
Unamortized Premium and Discount – Net	(1,242		)	(655		)
Other	2,105			2,118
Total Long-Term Debt	2,405,802			2,123,895
Less Amount Due Within One Year	70,000			330,000
Long-Term Debt Excluding Amount Due Within One Year		$2,335,802			$1,793,895
Fair Value of Long-Term Debt (c)		$2,142,527			$1,876,335

	2013			2012
	(In Thousands)
Entergy Gulf States Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$375,000			$375,000
3.95% Series due October 2020	250,000			250,000
5.59% Series due October 2024	300,000			300,000
6.2% Series due July 2033	240,000			240,000
6.18% Series due March 2035	85,000			85,000
Total mortgage bonds	1,250,000			1,250,000
Governmental Bonds (a):
2.875% Series due 2015, Louisiana Public Facilities Authority (d)	31,955			31,955
5.0% Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
Total governmental bonds	115,635			115,635
Variable Interest Entity Notes Payable (Note 4):
5.56% Series N due May 2013	—			75,000
3.25% Series Q due July 2017	75,000			75,000
3.38% Series R due August 2020	70,000			—
Credit Facility due June 2016, weighted avg rate 1.38%	14,800			—
Total variable interest entity notes payable	159,800			150,000
Other:
Unamortized Premium and Discount – Net	(1,574		)	(1,810		)
Other	3,604			3,604
Total Long-Term Debt	1,527,465			1,517,429
Less Amount Due Within One Year	—			75,000
Long-Term Debt Excluding Amount Due Within One Year		$1,527,465			$1,442,429
Fair Value of Long-Term Debt (c)		$1,631,308			$1,668,819

	2013			2012
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
1.875% Series due December 2014		$250,000			$250,000
6.50% Series due September 2018	300,000			300,000
4.8% Series due May 2021	200,000			200,000
3.3% Series due December 2022	200,000			200,000
4.05% Series due September 2023	325,000			—
5.40% Series due November 2024	400,000			400,000
4.44% Series due January 2026	250,000			250,000
6.4% Series due October 2034	70,000			70,000
6.3% Series due September 2035	100,000			100,000
6.0% Series due March 2040	150,000			150,000
5.875% Series due June 2041	150,000			150,000
5.25% Series due July 2052	200,000			200,000
4.7% Series due June 2063	100,000			—
Total mortgage bonds	2,695,000			2,270,000
Governmental Bonds (a):
5.0% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	115,000			115,000
Variable Interest Entity Notes Payable (Note 4):
5.69% Series E due July 2014	50,000			50,000
3.30% Series F due March 2016	20,000			20,000
3.25% Series G due July 2017	25,000			25,000
Total variable interest entity notes payable	95,000			95,000
Securitization Bonds:
2.04% Series Senior Secured due June 2021	164,993			181,584
Total securitization bonds	164,993			181,584
Other:
Waterford 3 Lease Obligation 7.45% (Note 10)	148,716			162,949
Unamortized Premium and Discount - Net	(2,962		)	(2,230		)
Other	3,769			3,792
Total Long-Term Debt	3,219,516			2,826,095
Less Amount Due Within One Year	320,231			14,236
Long-Term Debt Excluding Amount Due Within One Year		$2,899,285			$2,811,859
Fair Value of Long-Term Debt (c)		$3,148,877			$2,921,322

	2013			2012
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
5.15% Series due February 2013		$—			$100,000
3.25% Series due June 2016	125,000			125,000
4.95% Series due June 2018	95,000			95,000
6.64% Series due July 2019	150,000			150,000
3.1% Series due July 2023	250,000			250,000
6.0% Series due November 2032	75,000			75,000
6.25% Series due April 2034	100,000			100,000
6.20% Series due April 2040	80,000			80,000
6.0% Series due May 2051	150,000			150,000
Total mortgage bonds	1,025,000			1,125,000
Governmental Bonds (a):
4.60% Series due 2022, Mississippi Business Finance Corp.(d)	—			16,030
4.90% Series due 2022, Independence County (d)	30,000			30,000
Total governmental bonds	30,000			46,030
Other:
Unamortized Premium and Discount – Net	(1,330		)	(1,511		)
Total Long-Term Debt	1,053,670			1,169,519
Less Amount Due Within One Year	—			100,000
Long-Term Debt Excluding Amount Due Within One Year		$1,053,670			$1,069,519
Fair Value of Long-Term Debt (c)		$1,067,006			$1,230,714

	2013			2012
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.25% Series due August 2013		$—			$70,000
5.10% Series due December 2020	25,000			25,000
3.9% Series due July 2023	100,000			—
5.6% Series due September 2024	33,363			33,369
5.65% Series due September 2029	37,914			37,976
5.0% Series due December 2052	30,000			30,000
Total mortgage bonds	226,277			196,345
Other:
Unamortized Premium and Discount – Net	(333		)	(45		)
Total Long-Term Debt	225,944			196,300
Less Amount Due Within One Year	—			70,000
Long-Term Debt Excluding Amount Due Within One Year		$225,944			$126,300
Fair Value of Long-Term Debt (c)		$217,692			$200,725

	2013			2012
	(In Thousands)
Entergy Texas
Mortgage Bonds:
3.60% Series due June 2015		$200,000			$200,000
7.125% Series due February 2019	500,000			500,000
4.1% Series due September 2021	75,000			75,000
7.875% Series due June 2039	150,000			150,000
Total mortgage bonds	925,000			925,000
Securitization Bonds:
2.12% Series Senior Secured, Series A due February 2016	54,047			93,436
5.79% Series Senior Secured, Series A due October 2018	97,414			119,341
3.65% Series Senior Secured, Series A due August 2019	144,800			144,800
5.93% Series Senior Secured, Series A due June 2022	114,400			114,400
4.38% Series Senior Secured due November 2023	218,600			218,600
Total securitization bonds	629,261			690,577
Other:
Unamortized Premium and Discount - Net	(2,211		)	(2,653		)
Other	4,889			4,889
Total Long-Term Debt	1,556,939			1,617,813
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$1,556,939			$1,617,813
Fair Value of Long-Term Debt (c)		$1,726,623			$1,885,672

	2013			2012
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023		$250,000			$250,000
Total mortgage bonds	250,000			250,000
Governmental Bonds (a):
5.875% Series due 2022, Mississippi Business Finance Corp.	216,000			216,000
Total governmental bonds	216,000			216,000
Variable Interest Entity Notes Payable (Note 4):
6.29% Series F due September 2013	—			70,000
5.33% Series G due April 2015	60,000			60,000
4.02% Series H due February 2017	50,000			50,000
3.78% Series I due October 2018	85,000			—
Total variable interest entity notes payable	195,000			180,000
Other:
Grand Gulf Lease Obligation 5.13% (Note 10)	97,414			138,893
Unamortized Premium and Discount – Net	(981		)	(1,096		)
Other	3			2
Total Long-Term Debt	757,436			783,799
Less Amount Due Within One Year	48,653			111,854
Long-Term Debt Excluding Amount Due Within One Year		$708,783			$671,945
Fair Value of Long-Term Debt (c)		$664,890			$664,670

(a) Consists of pollution control revenue bonds and environmental revenue bonds.

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

(c) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy and long-term DOE obligations of $181 million at Entergy Arkansas, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) The bonds are secured by a series of collateral first mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans	Entergy Texas		System Energy
2014		$70,000	—			$300,000	—		—	—		—
2015		$250,000		$31,955	—		—		—		$200,000		$60,000
2016		$55,000		$14,800		$20,000		$125,000	—		$54,047	—
2017		$114,700		$75,000		$25,000	—		—	—			$50,000
2018		$115,000		$375,000		$300,000		$95,000	—		$97,414		$85,000

Entergy Arkansas Securitization Bonds

In June 2010, the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs.  In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds.  The bonds have a coupon of 2.30% and an expected maturity date of August 2021.  Although the principal amount is not due until the date given above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $12.8 million for 2014, $13.2 million for 2015, $13.4 million for 2016, $13.8 million for 2017, and $14.1 million for 2018.  With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds.  The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet.  The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas.  Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections.

Entergy Louisiana Securitization Bonds – Little Gypsy

In August 2011, the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the cancelled Little Gypsy repowering project.  In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds.  The bonds have an interest rate of 2.04% and an expected maturity date of June 2021.  Although the principal amount is not due until the date given above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.9 million for 2014, $20.5 million for 2015, $21.6 million for 2016, $21.7 million for 2017, and $22.3 million for 2018.  With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds.  In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs.  The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet.  The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana.  Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections.

Entergy Texas Securitization Bonds - Hurricane Rita

In April 2007, the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits.  In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds, Series A:
Tranche A-1 (5.51%) due October 2013		$93,500
Tranche A-2 (5.79%) due October 2018	121,600
Tranche A-3 (5.93%) due June 2022	114,400
Total senior secured transition bonds		$329,500

Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $23.2 million for 2014, $24.6 million for 2015, $26.0 million for 2016, $27.6 million for 2017, and $29.2 million for 2018.  All of the scheduled principal payments for 2014-2016 are for Tranche A-2, $23.6 million of the scheduled principal payments for 2017 are for Tranche A-2 and  $4.0 million of the scheduled principal payments for 2017 are for Tranche A-3. All of the scheduled principal payments for 2018 are for Tranche A-3.

With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009, the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds
Tranche A-1 (2.12%) due February 2016		$182,500
Tranche A-2 (3.65%) due August 2019	144,800
Tranche A-3 (4.38%) due November 2023	218,600
Total senior secured transition bonds		$545,900

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $40.2 million for 2014, $41.2 million for 2015, $42.6 million for 2016, $44.1 million for 2017, and $45.8 million for 2018.  All of the scheduled principal payments for 2014 are for Tranche A-1, $13.8 million of the scheduled principal payments for 2015 are for Tranche A-1 and $27.4 million are for Tranche A-2. All of the scheduled principal payments for 2016-2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15.0 million are for Tranche A-3.

With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections.

Entergy New Orleans [Member]

Long - Term Debt

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

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2013 and 2012 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2013	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2013	2012	2013			2012
				(In Thousands)
Mortgage Bonds
2013-2018	5.43%	1.88%-6.50%	1.88%-6.50%		$1,460,000			$1,930,000
2019-2023	4.24%	3.05%-7.13%	3.10%-7.13%	2,925,000			2,250,000
2024-2028	5.27%	4.44%-5.66%	4.44%-5.66%	1,158,363			1,158,369
2029-2038	6.18%	5.65%-6.40%	5.65%-6.40%	867,914			867,976
2039-2063	5.55%	4.70%-7.88%	4.90%-7.88%	1,560,000			1,335,000
Governmental Bonds (a)
2013-2018	1.84%	1.55%-2.88%	2.88%-4.60%	86,655			86,655
2019-2023	5.30%	2.38%-5.88%	4.60%-5.88%	291,000			307,030
2024-2031	5.00%	5.00%	5.00%	198,680			198,680
Securitization Bonds
2014-2021	2.92%	2.04%-5.79%	2.12%-5.79%	550,243			459,152
2022-2024	4.86%	4.38%-5.93%	2.04%-5.93%	333,000			514,584
Variable Interest Entities Notes Payable (Note 4)
2013-2020	3.50%	1.38%-5.69%	2.62%-9.00%	634,800			640,000
Entergy Corporation Notes
due September 2015	n/a	3.625%	3.625%	550,000			550,000
due January 2017	n/a	4.70%	4.70%	500,000			500,000
due September 2020	n/a	5.125%	5.125%	450,000			450,000
Note Payable to NYPA	(b)	(b)	(b)	95,011			109,679
5 Year Credit Facility (Note 4)	n/a	1.96%	2.04%	255,000			795,000
Long-term DOE Obligation (c)	—	—	—	181,253			181,157
Waterford 3 Lease Obligation (d)	n/a	7.45%	7.45%	148,716			162,949
Grand Gulf Lease Obligation (d)	n/a	5.13%	5.13%	97,414			138,893
Term Loan - Entergy Arkansas	n/a	1.13%	—	250,000			—
Unamortized Premium and Discount - Net				(11,172		)	(10,744		)
Other				14,367			14,454
Total Long-Term Debt				12,596,244			12,638,834
Less Amount Due Within One Year				457,095			718,516
Long-Term Debt Excluding Amount Due Within One Year					$12,139,149			$11,920,318
Fair Value of Long-Term Debt (e)					$12,439,785			$12,849,330

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

(b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.

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

(d) See Note 10 to the financial statements for further discussion of the Waterford 3 and Grand Gulf lease obligations.

(e) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $95 million at Entergy, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Amount
	(In Thousands)
2014		$385,373
2015		$1,110,566
2016		$270,852
2017		$766,801
2018		$1,324,616

In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction.  Entergy issued notes to NYPA with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing.  These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.  In accordance with the purchase agreement with NYPA, the purchase of Indian Point 2 in 2001 resulted in Entergy becoming liable to NYPA for an additional $10 million per year for 10 years, beginning in September 2003.  This liability was recorded upon the purchase of Indian Point 2 in September 2001. In July 2003 a payment of $102 million was made prior to maturity on the note payable to NYPA.  Under a provision in a letter of credit supporting these notes, if certain of the Utility operating companies or System Energy were to default on other indebtedness, Entergy could be required to post collateral to support the letter of credit.

Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015.  Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014.

Capital Funds Agreement

Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to:

• maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt);

• permit the continued commercial operation of Grand Gulf;

• pay in full all System Energy indebtedness for borrowed money when due; and

• enable System Energy to make payments on specific System Energy debt, under supplements to the agreement assigning System Energy’s rights in the agreement as security for the specific debt.

Long-term debt for the Registrant Subsidiaries as of December 31, 2013 and 2012 consisted of:

	2013			2012
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
5.40% Series due August 2013		$—			$300,000
5.0% Series due July 2018	115,000			115,000
3.75% Series due February 2021	350,000			350,000
3.05% Series due June 2023	250,000			—
5.66% Series due February 2025	175,000			175,000
5.9% Series due June 2033	100,000			100,000
6.38% Series due November 2034	60,000			60,000
5.75% Series due November 2040	225,000			225,000
4.9% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			—
Total mortgage bonds	1,600,000			1,525,000
Governmental Bonds (a):
4.6% Series due 2017, Jefferson County (d)	—			54,700
1.55% Series due 2017, Jefferson County (d)	54,700			—
5.0% Series due 2021, Independence County (d)	—			45,000
2.38% Series due 2021, Independence County (d)	45,000			—
Total governmental bonds	99,700			99,700
Variable Interest Entity Notes Payable (Note 4):
9% Series H due June 2013	—			30,000
5.69% Series I due July 2014	70,000			70,000
3.23% Series J due July 2016	55,000			55,000
2.62% Series K due December 2017	60,000			60,000
Total variable interest entity notes payable	185,000			215,000
Securitization Bonds:
2.30% Series Senior Secured due August 2021	88,986			101,575
Total securitization bonds	88,986			101,575
Other:
Long-term DOE Obligation (b)	181,253			181,157
Term Loan due January 2015, weighted avg rate 1.13%	250,000			—
Unamortized Premium and Discount – Net	(1,242		)	(655		)
Other	2,105			2,118
Total Long-Term Debt	2,405,802			2,123,895
Less Amount Due Within One Year	70,000			330,000
Long-Term Debt Excluding Amount Due Within One Year		$2,335,802			$1,793,895
Fair Value of Long-Term Debt (c)		$2,142,527			$1,876,335

	2013			2012
	(In Thousands)
Entergy Gulf States Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$375,000			$375,000
3.95% Series due October 2020	250,000			250,000
5.59% Series due October 2024	300,000			300,000
6.2% Series due July 2033	240,000			240,000
6.18% Series due March 2035	85,000			85,000
Total mortgage bonds	1,250,000			1,250,000
Governmental Bonds (a):
2.875% Series due 2015, Louisiana Public Facilities Authority (d)	31,955			31,955
5.0% Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
Total governmental bonds	115,635			115,635
Variable Interest Entity Notes Payable (Note 4):
5.56% Series N due May 2013	—			75,000
3.25% Series Q due July 2017	75,000			75,000
3.38% Series R due August 2020	70,000			—
Credit Facility due June 2016, weighted avg rate 1.38%	14,800			—
Total variable interest entity notes payable	159,800			150,000
Other:
Unamortized Premium and Discount – Net	(1,574		)	(1,810		)
Other	3,604			3,604
Total Long-Term Debt	1,527,465			1,517,429
Less Amount Due Within One Year	—			75,000
Long-Term Debt Excluding Amount Due Within One Year		$1,527,465			$1,442,429
Fair Value of Long-Term Debt (c)		$1,631,308			$1,668,819

	2013			2012
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
1.875% Series due December 2014		$250,000			$250,000
6.50% Series due September 2018	300,000			300,000
4.8% Series due May 2021	200,000			200,000
3.3% Series due December 2022	200,000			200,000
4.05% Series due September 2023	325,000			—
5.40% Series due November 2024	400,000			400,000
4.44% Series due January 2026	250,000			250,000
6.4% Series due October 2034	70,000			70,000
6.3% Series due September 2035	100,000			100,000
6.0% Series due March 2040	150,000			150,000
5.875% Series due June 2041	150,000			150,000
5.25% Series due July 2052	200,000			200,000
4.7% Series due June 2063	100,000			—
Total mortgage bonds	2,695,000			2,270,000
Governmental Bonds (a):
5.0% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	115,000			115,000
Variable Interest Entity Notes Payable (Note 4):
5.69% Series E due July 2014	50,000			50,000
3.30% Series F due March 2016	20,000			20,000
3.25% Series G due July 2017	25,000			25,000
Total variable interest entity notes payable	95,000			95,000
Securitization Bonds:
2.04% Series Senior Secured due June 2021	164,993			181,584
Total securitization bonds	164,993			181,584
Other:
Waterford 3 Lease Obligation 7.45% (Note 10)	148,716			162,949
Unamortized Premium and Discount - Net	(2,962		)	(2,230		)
Other	3,769			3,792
Total Long-Term Debt	3,219,516			2,826,095
Less Amount Due Within One Year	320,231			14,236
Long-Term Debt Excluding Amount Due Within One Year		$2,899,285			$2,811,859
Fair Value of Long-Term Debt (c)		$3,148,877			$2,921,322

	2013			2012
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
5.15% Series due February 2013		$—			$100,000
3.25% Series due June 2016	125,000			125,000
4.95% Series due June 2018	95,000			95,000
6.64% Series due July 2019	150,000			150,000
3.1% Series due July 2023	250,000			250,000
6.0% Series due November 2032	75,000			75,000
6.25% Series due April 2034	100,000			100,000
6.20% Series due April 2040	80,000			80,000
6.0% Series due May 2051	150,000			150,000
Total mortgage bonds	1,025,000			1,125,000
Governmental Bonds (a):
4.60% Series due 2022, Mississippi Business Finance Corp.(d)	—			16,030
4.90% Series due 2022, Independence County (d)	30,000			30,000
Total governmental bonds	30,000			46,030
Other:
Unamortized Premium and Discount – Net	(1,330		)	(1,511		)
Total Long-Term Debt	1,053,670			1,169,519
Less Amount Due Within One Year	—			100,000
Long-Term Debt Excluding Amount Due Within One Year		$1,053,670			$1,069,519
Fair Value of Long-Term Debt (c)		$1,067,006			$1,230,714

	2013			2012
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.25% Series due August 2013		$—			$70,000
5.10% Series due December 2020	25,000			25,000
3.9% Series due July 2023	100,000			—
5.6% Series due September 2024	33,363			33,369
5.65% Series due September 2029	37,914			37,976
5.0% Series due December 2052	30,000			30,000
Total mortgage bonds	226,277			196,345
Other:
Unamortized Premium and Discount – Net	(333		)	(45		)
Total Long-Term Debt	225,944			196,300
Less Amount Due Within One Year	—			70,000
Long-Term Debt Excluding Amount Due Within One Year		$225,944			$126,300
Fair Value of Long-Term Debt (c)		$217,692			$200,725

	2013			2012
	(In Thousands)
Entergy Texas
Mortgage Bonds:
3.60% Series due June 2015		$200,000			$200,000
7.125% Series due February 2019	500,000			500,000
4.1% Series due September 2021	75,000			75,000
7.875% Series due June 2039	150,000			150,000
Total mortgage bonds	925,000			925,000
Securitization Bonds:
2.12% Series Senior Secured, Series A due February 2016	54,047			93,436
5.79% Series Senior Secured, Series A due October 2018	97,414			119,341
3.65% Series Senior Secured, Series A due August 2019	144,800			144,800
5.93% Series Senior Secured, Series A due June 2022	114,400			114,400
4.38% Series Senior Secured due November 2023	218,600			218,600
Total securitization bonds	629,261			690,577
Other:
Unamortized Premium and Discount - Net	(2,211		)	(2,653		)
Other	4,889			4,889
Total Long-Term Debt	1,556,939			1,617,813
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$1,556,939			$1,617,813
Fair Value of Long-Term Debt (c)		$1,726,623			$1,885,672

	2013			2012
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023		$250,000			$250,000
Total mortgage bonds	250,000			250,000
Governmental Bonds (a):
5.875% Series due 2022, Mississippi Business Finance Corp.	216,000			216,000
Total governmental bonds	216,000			216,000
Variable Interest Entity Notes Payable (Note 4):
6.29% Series F due September 2013	—			70,000
5.33% Series G due April 2015	60,000			60,000
4.02% Series H due February 2017	50,000			50,000
3.78% Series I due October 2018	85,000			—
Total variable interest entity notes payable	195,000			180,000
Other:
Grand Gulf Lease Obligation 5.13% (Note 10)	97,414			138,893
Unamortized Premium and Discount – Net	(981		)	(1,096		)
Other	3			2
Total Long-Term Debt	757,436			783,799
Less Amount Due Within One Year	48,653			111,854
Long-Term Debt Excluding Amount Due Within One Year		$708,783			$671,945
Fair Value of Long-Term Debt (c)		$664,890			$664,670

(a) Consists of pollution control revenue bonds and environmental revenue bonds.

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

(c) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy and long-term DOE obligations of $181 million at Entergy Arkansas, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) The bonds are secured by a series of collateral first mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans	Entergy Texas		System Energy
2014		$70,000	—			$300,000	—		—	—		—
2015		$250,000		$31,955	—		—		—		$200,000		$60,000
2016		$55,000		$14,800		$20,000		$125,000	—		$54,047	—
2017		$114,700		$75,000		$25,000	—		—	—			$50,000
2018		$115,000		$375,000		$300,000		$95,000	—		$97,414		$85,000

Entergy Arkansas Securitization Bonds

In June 2010, the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs.  In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds.  The bonds have a coupon of 2.30% and an expected maturity date of August 2021.  Although the principal amount is not due until the date given above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $12.8 million for 2014, $13.2 million for 2015, $13.4 million for 2016, $13.8 million for 2017, and $14.1 million for 2018.  With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds.  The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet.  The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas.  Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections.

Entergy Louisiana Securitization Bonds – Little Gypsy

In August 2011, the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the cancelled Little Gypsy repowering project.  In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds.  The bonds have an interest rate of 2.04% and an expected maturity date of June 2021.  Although the principal amount is not due until the date given above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.9 million for 2014, $20.5 million for 2015, $21.6 million for 2016, $21.7 million for 2017, and $22.3 million for 2018.  With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds.  In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs.  The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet.  The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana.  Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections.

Entergy Texas Securitization Bonds - Hurricane Rita

In April 2007, the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits.  In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds, Series A:
Tranche A-1 (5.51%) due October 2013		$93,500
Tranche A-2 (5.79%) due October 2018	121,600
Tranche A-3 (5.93%) due June 2022	114,400
Total senior secured transition bonds		$329,500

Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $23.2 million for 2014, $24.6 million for 2015, $26.0 million for 2016, $27.6 million for 2017, and $29.2 million for 2018.  All of the scheduled principal payments for 2014-2016 are for Tranche A-2, $23.6 million of the scheduled principal payments for 2017 are for Tranche A-2 and  $4.0 million of the scheduled principal payments for 2017 are for Tranche A-3. All of the scheduled principal payments for 2018 are for Tranche A-3.

With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009, the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds
Tranche A-1 (2.12%) due February 2016		$182,500
Tranche A-2 (3.65%) due August 2019	144,800
Tranche A-3 (4.38%) due November 2023	218,600
Total senior secured transition bonds		$545,900

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $40.2 million for 2014, $41.2 million for 2015, $42.6 million for 2016, $44.1 million for 2017, and $45.8 million for 2018.  All of the scheduled principal payments for 2014 are for Tranche A-1, $13.8 million of the scheduled principal payments for 2015 are for Tranche A-1 and $27.4 million are for Tranche A-2. All of the scheduled principal payments for 2016-2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15.0 million are for Tranche A-3.

With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections.

Entergy Texas [Member]

Long - Term Debt

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

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2013 and 2012 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2013	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2013	2012	2013			2012
				(In Thousands)
Mortgage Bonds
2013-2018	5.43%	1.88%-6.50%	1.88%-6.50%		$1,460,000			$1,930,000
2019-2023	4.24%	3.05%-7.13%	3.10%-7.13%	2,925,000			2,250,000
2024-2028	5.27%	4.44%-5.66%	4.44%-5.66%	1,158,363			1,158,369
2029-2038	6.18%	5.65%-6.40%	5.65%-6.40%	867,914			867,976
2039-2063	5.55%	4.70%-7.88%	4.90%-7.88%	1,560,000			1,335,000
Governmental Bonds (a)
2013-2018	1.84%	1.55%-2.88%	2.88%-4.60%	86,655			86,655
2019-2023	5.30%	2.38%-5.88%	4.60%-5.88%	291,000			307,030
2024-2031	5.00%	5.00%	5.00%	198,680			198,680
Securitization Bonds
2014-2021	2.92%	2.04%-5.79%	2.12%-5.79%	550,243			459,152
2022-2024	4.86%	4.38%-5.93%	2.04%-5.93%	333,000			514,584
Variable Interest Entities Notes Payable (Note 4)
2013-2020	3.50%	1.38%-5.69%	2.62%-9.00%	634,800			640,000
Entergy Corporation Notes
due September 2015	n/a	3.625%	3.625%	550,000			550,000
due January 2017	n/a	4.70%	4.70%	500,000			500,000
due September 2020	n/a	5.125%	5.125%	450,000			450,000
Note Payable to NYPA	(b)	(b)	(b)	95,011			109,679
5 Year Credit Facility (Note 4)	n/a	1.96%	2.04%	255,000			795,000
Long-term DOE Obligation (c)	—	—	—	181,253			181,157
Waterford 3 Lease Obligation (d)	n/a	7.45%	7.45%	148,716			162,949
Grand Gulf Lease Obligation (d)	n/a	5.13%	5.13%	97,414			138,893
Term Loan - Entergy Arkansas	n/a	1.13%	—	250,000			—
Unamortized Premium and Discount - Net				(11,172		)	(10,744		)
Other				14,367			14,454
Total Long-Term Debt				12,596,244			12,638,834
Less Amount Due Within One Year				457,095			718,516
Long-Term Debt Excluding Amount Due Within One Year					$12,139,149			$11,920,318
Fair Value of Long-Term Debt (e)					$12,439,785			$12,849,330

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

(b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.

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

(d) See Note 10 to the financial statements for further discussion of the Waterford 3 and Grand Gulf lease obligations.

(e) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $95 million at Entergy, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Amount
	(In Thousands)
2014		$385,373
2015		$1,110,566
2016		$270,852
2017		$766,801
2018		$1,324,616

In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction.  Entergy issued notes to NYPA with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing.  These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.  In accordance with the purchase agreement with NYPA, the purchase of Indian Point 2 in 2001 resulted in Entergy becoming liable to NYPA for an additional $10 million per year for 10 years, beginning in September 2003.  This liability was recorded upon the purchase of Indian Point 2 in September 2001. In July 2003 a payment of $102 million was made prior to maturity on the note payable to NYPA.  Under a provision in a letter of credit supporting these notes, if certain of the Utility operating companies or System Energy were to default on other indebtedness, Entergy could be required to post collateral to support the letter of credit.

Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015.  Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014.

Capital Funds Agreement

Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to:

• maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt);

• permit the continued commercial operation of Grand Gulf;

• pay in full all System Energy indebtedness for borrowed money when due; and

• enable System Energy to make payments on specific System Energy debt, under supplements to the agreement assigning System Energy’s rights in the agreement as security for the specific debt.

Long-term debt for the Registrant Subsidiaries as of December 31, 2013 and 2012 consisted of:

	2013			2012
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
5.40% Series due August 2013		$—			$300,000
5.0% Series due July 2018	115,000			115,000
3.75% Series due February 2021	350,000			350,000
3.05% Series due June 2023	250,000			—
5.66% Series due February 2025	175,000			175,000
5.9% Series due June 2033	100,000			100,000
6.38% Series due November 2034	60,000			60,000
5.75% Series due November 2040	225,000			225,000
4.9% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			—
Total mortgage bonds	1,600,000			1,525,000
Governmental Bonds (a):
4.6% Series due 2017, Jefferson County (d)	—			54,700
1.55% Series due 2017, Jefferson County (d)	54,700			—
5.0% Series due 2021, Independence County (d)	—			45,000
2.38% Series due 2021, Independence County (d)	45,000			—
Total governmental bonds	99,700			99,700
Variable Interest Entity Notes Payable (Note 4):
9% Series H due June 2013	—			30,000
5.69% Series I due July 2014	70,000			70,000
3.23% Series J due July 2016	55,000			55,000
2.62% Series K due December 2017	60,000			60,000
Total variable interest entity notes payable	185,000			215,000
Securitization Bonds:
2.30% Series Senior Secured due August 2021	88,986			101,575
Total securitization bonds	88,986			101,575
Other:
Long-term DOE Obligation (b)	181,253			181,157
Term Loan due January 2015, weighted avg rate 1.13%	250,000			—
Unamortized Premium and Discount – Net	(1,242		)	(655		)
Other	2,105			2,118
Total Long-Term Debt	2,405,802			2,123,895
Less Amount Due Within One Year	70,000			330,000
Long-Term Debt Excluding Amount Due Within One Year		$2,335,802			$1,793,895
Fair Value of Long-Term Debt (c)		$2,142,527			$1,876,335

	2013			2012
	(In Thousands)
Entergy Gulf States Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$375,000			$375,000
3.95% Series due October 2020	250,000			250,000
5.59% Series due October 2024	300,000			300,000
6.2% Series due July 2033	240,000			240,000
6.18% Series due March 2035	85,000			85,000
Total mortgage bonds	1,250,000			1,250,000
Governmental Bonds (a):
2.875% Series due 2015, Louisiana Public Facilities Authority (d)	31,955			31,955
5.0% Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
Total governmental bonds	115,635			115,635
Variable Interest Entity Notes Payable (Note 4):
5.56% Series N due May 2013	—			75,000
3.25% Series Q due July 2017	75,000			75,000
3.38% Series R due August 2020	70,000			—
Credit Facility due June 2016, weighted avg rate 1.38%	14,800			—
Total variable interest entity notes payable	159,800			150,000
Other:
Unamortized Premium and Discount – Net	(1,574		)	(1,810		)
Other	3,604			3,604
Total Long-Term Debt	1,527,465			1,517,429
Less Amount Due Within One Year	—			75,000
Long-Term Debt Excluding Amount Due Within One Year		$1,527,465			$1,442,429
Fair Value of Long-Term Debt (c)		$1,631,308			$1,668,819

	2013			2012
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
1.875% Series due December 2014		$250,000			$250,000
6.50% Series due September 2018	300,000			300,000
4.8% Series due May 2021	200,000			200,000
3.3% Series due December 2022	200,000			200,000
4.05% Series due September 2023	325,000			—
5.40% Series due November 2024	400,000			400,000
4.44% Series due January 2026	250,000			250,000
6.4% Series due October 2034	70,000			70,000
6.3% Series due September 2035	100,000			100,000
6.0% Series due March 2040	150,000			150,000
5.875% Series due June 2041	150,000			150,000
5.25% Series due July 2052	200,000			200,000
4.7% Series due June 2063	100,000			—
Total mortgage bonds	2,695,000			2,270,000
Governmental Bonds (a):
5.0% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	115,000			115,000
Variable Interest Entity Notes Payable (Note 4):
5.69% Series E due July 2014	50,000			50,000
3.30% Series F due March 2016	20,000			20,000
3.25% Series G due July 2017	25,000			25,000
Total variable interest entity notes payable	95,000			95,000
Securitization Bonds:
2.04% Series Senior Secured due June 2021	164,993			181,584
Total securitization bonds	164,993			181,584
Other:
Waterford 3 Lease Obligation 7.45% (Note 10)	148,716			162,949
Unamortized Premium and Discount - Net	(2,962		)	(2,230		)
Other	3,769			3,792
Total Long-Term Debt	3,219,516			2,826,095
Less Amount Due Within One Year	320,231			14,236
Long-Term Debt Excluding Amount Due Within One Year		$2,899,285			$2,811,859
Fair Value of Long-Term Debt (c)		$3,148,877			$2,921,322

	2013			2012
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
5.15% Series due February 2013		$—			$100,000
3.25% Series due June 2016	125,000			125,000
4.95% Series due June 2018	95,000			95,000
6.64% Series due July 2019	150,000			150,000
3.1% Series due July 2023	250,000			250,000
6.0% Series due November 2032	75,000			75,000
6.25% Series due April 2034	100,000			100,000
6.20% Series due April 2040	80,000			80,000
6.0% Series due May 2051	150,000			150,000
Total mortgage bonds	1,025,000			1,125,000
Governmental Bonds (a):
4.60% Series due 2022, Mississippi Business Finance Corp.(d)	—			16,030
4.90% Series due 2022, Independence County (d)	30,000			30,000
Total governmental bonds	30,000			46,030
Other:
Unamortized Premium and Discount – Net	(1,330		)	(1,511		)
Total Long-Term Debt	1,053,670			1,169,519
Less Amount Due Within One Year	—			100,000
Long-Term Debt Excluding Amount Due Within One Year		$1,053,670			$1,069,519
Fair Value of Long-Term Debt (c)		$1,067,006			$1,230,714

	2013			2012
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.25% Series due August 2013		$—			$70,000
5.10% Series due December 2020	25,000			25,000
3.9% Series due July 2023	100,000			—
5.6% Series due September 2024	33,363			33,369
5.65% Series due September 2029	37,914			37,976
5.0% Series due December 2052	30,000			30,000
Total mortgage bonds	226,277			196,345
Other:
Unamortized Premium and Discount – Net	(333		)	(45		)
Total Long-Term Debt	225,944			196,300
Less Amount Due Within One Year	—			70,000
Long-Term Debt Excluding Amount Due Within One Year		$225,944			$126,300
Fair Value of Long-Term Debt (c)		$217,692			$200,725

	2013			2012
	(In Thousands)
Entergy Texas
Mortgage Bonds:
3.60% Series due June 2015		$200,000			$200,000
7.125% Series due February 2019	500,000			500,000
4.1% Series due September 2021	75,000			75,000
7.875% Series due June 2039	150,000			150,000
Total mortgage bonds	925,000			925,000
Securitization Bonds:
2.12% Series Senior Secured, Series A due February 2016	54,047			93,436
5.79% Series Senior Secured, Series A due October 2018	97,414			119,341
3.65% Series Senior Secured, Series A due August 2019	144,800			144,800
5.93% Series Senior Secured, Series A due June 2022	114,400			114,400
4.38% Series Senior Secured due November 2023	218,600			218,600
Total securitization bonds	629,261			690,577
Other:
Unamortized Premium and Discount - Net	(2,211		)	(2,653		)
Other	4,889			4,889
Total Long-Term Debt	1,556,939			1,617,813
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$1,556,939			$1,617,813
Fair Value of Long-Term Debt (c)		$1,726,623			$1,885,672

	2013			2012
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023		$250,000			$250,000
Total mortgage bonds	250,000			250,000
Governmental Bonds (a):
5.875% Series due 2022, Mississippi Business Finance Corp.	216,000			216,000
Total governmental bonds	216,000			216,000
Variable Interest Entity Notes Payable (Note 4):
6.29% Series F due September 2013	—			70,000
5.33% Series G due April 2015	60,000			60,000
4.02% Series H due February 2017	50,000			50,000
3.78% Series I due October 2018	85,000			—
Total variable interest entity notes payable	195,000			180,000
Other:
Grand Gulf Lease Obligation 5.13% (Note 10)	97,414			138,893
Unamortized Premium and Discount – Net	(981		)	(1,096		)
Other	3			2
Total Long-Term Debt	757,436			783,799
Less Amount Due Within One Year	48,653			111,854
Long-Term Debt Excluding Amount Due Within One Year		$708,783			$671,945
Fair Value of Long-Term Debt (c)		$664,890			$664,670

(a) Consists of pollution control revenue bonds and environmental revenue bonds.

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

(c) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy and long-term DOE obligations of $181 million at Entergy Arkansas, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) The bonds are secured by a series of collateral first mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans	Entergy Texas		System Energy
2014		$70,000	—			$300,000	—		—	—		—
2015		$250,000		$31,955	—		—		—		$200,000		$60,000
2016		$55,000		$14,800		$20,000		$125,000	—		$54,047	—
2017		$114,700		$75,000		$25,000	—		—	—			$50,000
2018		$115,000		$375,000		$300,000		$95,000	—		$97,414		$85,000

Entergy Arkansas Securitization Bonds

In June 2010, the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs.  In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds.  The bonds have a coupon of 2.30% and an expected maturity date of August 2021.  Although the principal amount is not due until the date given above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $12.8 million for 2014, $13.2 million for 2015, $13.4 million for 2016, $13.8 million for 2017, and $14.1 million for 2018.  With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds.  The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet.  The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas.  Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections.

Entergy Louisiana Securitization Bonds – Little Gypsy

In August 2011, the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the cancelled Little Gypsy repowering project.  In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds.  The bonds have an interest rate of 2.04% and an expected maturity date of June 2021.  Although the principal amount is not due until the date given above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.9 million for 2014, $20.5 million for 2015, $21.6 million for 2016, $21.7 million for 2017, and $22.3 million for 2018.  With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds.  In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs.  The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet.  The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana.  Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections.

Entergy Texas Securitization Bonds - Hurricane Rita

In April 2007, the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits.  In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds, Series A:
Tranche A-1 (5.51%) due October 2013		$93,500
Tranche A-2 (5.79%) due October 2018	121,600
Tranche A-3 (5.93%) due June 2022	114,400
Total senior secured transition bonds		$329,500

Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $23.2 million for 2014, $24.6 million for 2015, $26.0 million for 2016, $27.6 million for 2017, and $29.2 million for 2018.  All of the scheduled principal payments for 2014-2016 are for Tranche A-2, $23.6 million of the scheduled principal payments for 2017 are for Tranche A-2 and  $4.0 million of the scheduled principal payments for 2017 are for Tranche A-3. All of the scheduled principal payments for 2018 are for Tranche A-3.

With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009, the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds
Tranche A-1 (2.12%) due February 2016		$182,500
Tranche A-2 (3.65%) due August 2019	144,800
Tranche A-3 (4.38%) due November 2023	218,600
Total senior secured transition bonds		$545,900

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $40.2 million for 2014, $41.2 million for 2015, $42.6 million for 2016, $44.1 million for 2017, and $45.8 million for 2018.  All of the scheduled principal payments for 2014 are for Tranche A-1, $13.8 million of the scheduled principal payments for 2015 are for Tranche A-1 and $27.4 million are for Tranche A-2. All of the scheduled principal payments for 2016-2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15.0 million are for Tranche A-3.

With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections.

System Energy [Member]

Long - Term Debt

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

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2013 and 2012 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2013	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2013	2012	2013			2012
				(In Thousands)
Mortgage Bonds
2013-2018	5.43%	1.88%-6.50%	1.88%-6.50%		$1,460,000			$1,930,000
2019-2023	4.24%	3.05%-7.13%	3.10%-7.13%	2,925,000			2,250,000
2024-2028	5.27%	4.44%-5.66%	4.44%-5.66%	1,158,363			1,158,369
2029-2038	6.18%	5.65%-6.40%	5.65%-6.40%	867,914			867,976
2039-2063	5.55%	4.70%-7.88%	4.90%-7.88%	1,560,000			1,335,000
Governmental Bonds (a)
2013-2018	1.84%	1.55%-2.88%	2.88%-4.60%	86,655			86,655
2019-2023	5.30%	2.38%-5.88%	4.60%-5.88%	291,000			307,030
2024-2031	5.00%	5.00%	5.00%	198,680			198,680
Securitization Bonds
2014-2021	2.92%	2.04%-5.79%	2.12%-5.79%	550,243			459,152
2022-2024	4.86%	4.38%-5.93%	2.04%-5.93%	333,000			514,584
Variable Interest Entities Notes Payable (Note 4)
2013-2020	3.50%	1.38%-5.69%	2.62%-9.00%	634,800			640,000
Entergy Corporation Notes
due September 2015	n/a	3.625%	3.625%	550,000			550,000
due January 2017	n/a	4.70%	4.70%	500,000			500,000
due September 2020	n/a	5.125%	5.125%	450,000			450,000
Note Payable to NYPA	(b)	(b)	(b)	95,011			109,679
5 Year Credit Facility (Note 4)	n/a	1.96%	2.04%	255,000			795,000
Long-term DOE Obligation (c)	—	—	—	181,253			181,157
Waterford 3 Lease Obligation (d)	n/a	7.45%	7.45%	148,716			162,949
Grand Gulf Lease Obligation (d)	n/a	5.13%	5.13%	97,414			138,893
Term Loan - Entergy Arkansas	n/a	1.13%	—	250,000			—
Unamortized Premium and Discount - Net				(11,172		)	(10,744		)
Other				14,367			14,454
Total Long-Term Debt				12,596,244			12,638,834
Less Amount Due Within One Year				457,095			718,516
Long-Term Debt Excluding Amount Due Within One Year					$12,139,149			$11,920,318
Fair Value of Long-Term Debt (e)					$12,439,785			$12,849,330

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

(b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.

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

(d) See Note 10 to the financial statements for further discussion of the Waterford 3 and Grand Gulf lease obligations.

(e) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $95 million at Entergy, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Amount
	(In Thousands)
2014		$385,373
2015		$1,110,566
2016		$270,852
2017		$766,801
2018		$1,324,616

In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction.  Entergy issued notes to NYPA with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing.  These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%.  In accordance with the purchase agreement with NYPA, the purchase of Indian Point 2 in 2001 resulted in Entergy becoming liable to NYPA for an additional $10 million per year for 10 years, beginning in September 2003.  This liability was recorded upon the purchase of Indian Point 2 in September 2001. In July 2003 a payment of $102 million was made prior to maturity on the note payable to NYPA.  Under a provision in a letter of credit supporting these notes, if certain of the Utility operating companies or System Energy were to default on other indebtedness, Entergy could be required to post collateral to support the letter of credit.

Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015.  Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014.

Capital Funds Agreement

Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to:

• maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt);

• permit the continued commercial operation of Grand Gulf;

• pay in full all System Energy indebtedness for borrowed money when due; and

• enable System Energy to make payments on specific System Energy debt, under supplements to the agreement assigning System Energy’s rights in the agreement as security for the specific debt.

Long-term debt for the Registrant Subsidiaries as of December 31, 2013 and 2012 consisted of:

	2013			2012
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
5.40% Series due August 2013		$—			$300,000
5.0% Series due July 2018	115,000			115,000
3.75% Series due February 2021	350,000			350,000
3.05% Series due June 2023	250,000			—
5.66% Series due February 2025	175,000			175,000
5.9% Series due June 2033	100,000			100,000
6.38% Series due November 2034	60,000			60,000
5.75% Series due November 2040	225,000			225,000
4.9% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			—
Total mortgage bonds	1,600,000			1,525,000
Governmental Bonds (a):
4.6% Series due 2017, Jefferson County (d)	—			54,700
1.55% Series due 2017, Jefferson County (d)	54,700			—
5.0% Series due 2021, Independence County (d)	—			45,000
2.38% Series due 2021, Independence County (d)	45,000			—
Total governmental bonds	99,700			99,700
Variable Interest Entity Notes Payable (Note 4):
9% Series H due June 2013	—			30,000
5.69% Series I due July 2014	70,000			70,000
3.23% Series J due July 2016	55,000			55,000
2.62% Series K due December 2017	60,000			60,000
Total variable interest entity notes payable	185,000			215,000
Securitization Bonds:
2.30% Series Senior Secured due August 2021	88,986			101,575
Total securitization bonds	88,986			101,575
Other:
Long-term DOE Obligation (b)	181,253			181,157
Term Loan due January 2015, weighted avg rate 1.13%	250,000			—
Unamortized Premium and Discount – Net	(1,242		)	(655		)
Other	2,105			2,118
Total Long-Term Debt	2,405,802			2,123,895
Less Amount Due Within One Year	70,000			330,000
Long-Term Debt Excluding Amount Due Within One Year		$2,335,802			$1,793,895
Fair Value of Long-Term Debt (c)		$2,142,527			$1,876,335

	2013			2012
	(In Thousands)
Entergy Gulf States Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$375,000			$375,000
3.95% Series due October 2020	250,000			250,000
5.59% Series due October 2024	300,000			300,000
6.2% Series due July 2033	240,000			240,000
6.18% Series due March 2035	85,000			85,000
Total mortgage bonds	1,250,000			1,250,000
Governmental Bonds (a):
2.875% Series due 2015, Louisiana Public Facilities Authority (d)	31,955			31,955
5.0% Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
Total governmental bonds	115,635			115,635
Variable Interest Entity Notes Payable (Note 4):
5.56% Series N due May 2013	—			75,000
3.25% Series Q due July 2017	75,000			75,000
3.38% Series R due August 2020	70,000			—
Credit Facility due June 2016, weighted avg rate 1.38%	14,800			—
Total variable interest entity notes payable	159,800			150,000
Other:
Unamortized Premium and Discount – Net	(1,574		)	(1,810		)
Other	3,604			3,604
Total Long-Term Debt	1,527,465			1,517,429
Less Amount Due Within One Year	—			75,000
Long-Term Debt Excluding Amount Due Within One Year		$1,527,465			$1,442,429
Fair Value of Long-Term Debt (c)		$1,631,308			$1,668,819

	2013			2012
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
1.875% Series due December 2014		$250,000			$250,000
6.50% Series due September 2018	300,000			300,000
4.8% Series due May 2021	200,000			200,000
3.3% Series due December 2022	200,000			200,000
4.05% Series due September 2023	325,000			—
5.40% Series due November 2024	400,000			400,000
4.44% Series due January 2026	250,000			250,000
6.4% Series due October 2034	70,000			70,000
6.3% Series due September 2035	100,000			100,000
6.0% Series due March 2040	150,000			150,000
5.875% Series due June 2041	150,000			150,000
5.25% Series due July 2052	200,000			200,000
4.7% Series due June 2063	100,000			—
Total mortgage bonds	2,695,000			2,270,000
Governmental Bonds (a):
5.0% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	115,000			115,000
Variable Interest Entity Notes Payable (Note 4):
5.69% Series E due July 2014	50,000			50,000
3.30% Series F due March 2016	20,000			20,000
3.25% Series G due July 2017	25,000			25,000
Total variable interest entity notes payable	95,000			95,000
Securitization Bonds:
2.04% Series Senior Secured due June 2021	164,993			181,584
Total securitization bonds	164,993			181,584
Other:
Waterford 3 Lease Obligation 7.45% (Note 10)	148,716			162,949
Unamortized Premium and Discount - Net	(2,962		)	(2,230		)
Other	3,769			3,792
Total Long-Term Debt	3,219,516			2,826,095
Less Amount Due Within One Year	320,231			14,236
Long-Term Debt Excluding Amount Due Within One Year		$2,899,285			$2,811,859
Fair Value of Long-Term Debt (c)		$3,148,877			$2,921,322

	2013			2012
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
5.15% Series due February 2013		$—			$100,000
3.25% Series due June 2016	125,000			125,000
4.95% Series due June 2018	95,000			95,000
6.64% Series due July 2019	150,000			150,000
3.1% Series due July 2023	250,000			250,000
6.0% Series due November 2032	75,000			75,000
6.25% Series due April 2034	100,000			100,000
6.20% Series due April 2040	80,000			80,000
6.0% Series due May 2051	150,000			150,000
Total mortgage bonds	1,025,000			1,125,000
Governmental Bonds (a):
4.60% Series due 2022, Mississippi Business Finance Corp.(d)	—			16,030
4.90% Series due 2022, Independence County (d)	30,000			30,000
Total governmental bonds	30,000			46,030
Other:
Unamortized Premium and Discount – Net	(1,330		)	(1,511		)
Total Long-Term Debt	1,053,670			1,169,519
Less Amount Due Within One Year	—			100,000
Long-Term Debt Excluding Amount Due Within One Year		$1,053,670			$1,069,519
Fair Value of Long-Term Debt (c)		$1,067,006			$1,230,714

	2013			2012
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.25% Series due August 2013		$—			$70,000
5.10% Series due December 2020	25,000			25,000
3.9% Series due July 2023	100,000			—
5.6% Series due September 2024	33,363			33,369
5.65% Series due September 2029	37,914			37,976
5.0% Series due December 2052	30,000			30,000
Total mortgage bonds	226,277			196,345
Other:
Unamortized Premium and Discount – Net	(333		)	(45		)
Total Long-Term Debt	225,944			196,300
Less Amount Due Within One Year	—			70,000
Long-Term Debt Excluding Amount Due Within One Year		$225,944			$126,300
Fair Value of Long-Term Debt (c)		$217,692			$200,725

	2013			2012
	(In Thousands)
Entergy Texas
Mortgage Bonds:
3.60% Series due June 2015		$200,000			$200,000
7.125% Series due February 2019	500,000			500,000
4.1% Series due September 2021	75,000			75,000
7.875% Series due June 2039	150,000			150,000
Total mortgage bonds	925,000			925,000
Securitization Bonds:
2.12% Series Senior Secured, Series A due February 2016	54,047			93,436
5.79% Series Senior Secured, Series A due October 2018	97,414			119,341
3.65% Series Senior Secured, Series A due August 2019	144,800			144,800
5.93% Series Senior Secured, Series A due June 2022	114,400			114,400
4.38% Series Senior Secured due November 2023	218,600			218,600
Total securitization bonds	629,261			690,577
Other:
Unamortized Premium and Discount - Net	(2,211		)	(2,653		)
Other	4,889			4,889
Total Long-Term Debt	1,556,939			1,617,813
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$1,556,939			$1,617,813
Fair Value of Long-Term Debt (c)		$1,726,623			$1,885,672

	2013			2012
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023		$250,000			$250,000
Total mortgage bonds	250,000			250,000
Governmental Bonds (a):
5.875% Series due 2022, Mississippi Business Finance Corp.	216,000			216,000
Total governmental bonds	216,000			216,000
Variable Interest Entity Notes Payable (Note 4):
6.29% Series F due September 2013	—			70,000
5.33% Series G due April 2015	60,000			60,000
4.02% Series H due February 2017	50,000			50,000
3.78% Series I due October 2018	85,000			—
Total variable interest entity notes payable	195,000			180,000
Other:
Grand Gulf Lease Obligation 5.13% (Note 10)	97,414			138,893
Unamortized Premium and Discount – Net	(981		)	(1,096		)
Other	3			2
Total Long-Term Debt	757,436			783,799
Less Amount Due Within One Year	48,653			111,854
Long-Term Debt Excluding Amount Due Within One Year		$708,783			$671,945
Fair Value of Long-Term Debt (c)		$664,890			$664,670

(a) Consists of pollution control revenue bonds and environmental revenue bonds.

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

(c) The fair value excludes lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy and long-term DOE obligations of $181 million at Entergy Arkansas, and includes debt due within one year.  Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) The bonds are secured by a series of collateral first mortgage bonds.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2013, for the next five years are as follows:

	Entergy Arkansas		Entergy Gulf States Louisiana		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans	Entergy Texas		System Energy
2014		$70,000	—			$300,000	—		—	—		—
2015		$250,000		$31,955	—		—		—		$200,000		$60,000
2016		$55,000		$14,800		$20,000		$125,000	—		$54,047	—
2017		$114,700		$75,000		$25,000	—		—	—			$50,000
2018		$115,000		$375,000		$300,000		$95,000	—		$97,414		$85,000

Entergy Arkansas Securitization Bonds

In June 2010, the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs.  In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds.  The bonds have a coupon of 2.30% and an expected maturity date of August 2021.  Although the principal amount is not due until the date given above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $12.8 million for 2014, $13.2 million for 2015, $13.4 million for 2016, $13.8 million for 2017, and $14.1 million for 2018.  With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds.  The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet.  The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas.  Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections.

Entergy Louisiana Securitization Bonds – Little Gypsy

In August 2011, the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the cancelled Little Gypsy repowering project.  In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds.  The bonds have an interest rate of 2.04% and an expected maturity date of June 2021.  Although the principal amount is not due until the date given above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.9 million for 2014, $20.5 million for 2015, $21.6 million for 2016, $21.7 million for 2017, and $22.3 million for 2018.  With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds.  In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs.  The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet.  The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana.  Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections.

Entergy Texas Securitization Bonds - Hurricane Rita

In April 2007, the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits.  In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds, Series A:
Tranche A-1 (5.51%) due October 2013		$93,500
Tranche A-2 (5.79%) due October 2018	121,600
Tranche A-3 (5.93%) due June 2022	114,400
Total senior secured transition bonds		$329,500

Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $23.2 million for 2014, $24.6 million for 2015, $26.0 million for 2016, $27.6 million for 2017, and $29.2 million for 2018.  All of the scheduled principal payments for 2014-2016 are for Tranche A-2, $23.6 million of the scheduled principal payments for 2017 are for Tranche A-2 and  $4.0 million of the scheduled principal payments for 2017 are for Tranche A-3. All of the scheduled principal payments for 2018 are for Tranche A-3.

With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

In September 2009, the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds.  In November 2009, Entergy Texas Restoration funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows:

	Amount
	(In Thousands)
Senior Secured Transition Bonds
Tranche A-1 (2.12%) due February 2016		$182,500
Tranche A-2 (3.65%) due August 2019	144,800
Tranche A-3 (4.38%) due November 2023	218,600
Total senior secured transition bonds		$545,900

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $40.2 million for 2014, $41.2 million for 2015, $42.6 million for 2016, $44.1 million for 2017, and $45.8 million for 2018.  All of the scheduled principal payments for 2014 are for Tranche A-1, $13.8 million of the scheduled principal payments for 2015 are for Tranche A-1 and $27.4 million are for Tranche A-2. All of the scheduled principal payments for 2016-2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15.0 million are for Tranche A-3.

With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds.  The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet.  The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas.  Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections.