Long - Term Debt

12 Months Ended

Dec. 31, 2018

Long - Term Debt

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

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2018 and 2017 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2018	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2018	2017	2018			2017
				(In Thousands)
Mortgage Bonds
2018-2022	3.86%	2.55%-7.125%	2.55%-7.125%		$1,875,000			$2,550,000
2023-2027	3.71%	2.40%-5.59%	2.40%-5.59%	4,735,000			4,735,000
2028-2038	3.63%	2.85%-4.52%	2.85%-3.25%	2,240,000			1,125,000
2044-2066	4.88%	4.20%-5.625%	4.70%-5.625%	3,560,000			2,960,000
Governmental Bonds (a)
2021-2022	5.28%	2.375%-5.875%	2.375%-5.875%	179,000			179,000
2028-2030	3.45%	3.375%-3.50%	3.375%-3.50%	198,680			198,680
Securitization Bonds
2019-2027	3.79%	2.04%-5.93%	2.04%-5.93%	429,118			551,499
Variable Interest Entities Notes Payable (Note 4)
2018-2023	3.44%	3.17%-3.92%	3.17%-3.92%	360,000			345,000
Entergy Corporation Notes
due September 2020	n/a	5.125%	5.125%	450,000			450,000
due July 2022	n/a	4.00%	4.00%	650,000			650,000
due September 2026	n/a	2.95%	2.95%	750,000			750,000
5 Year Credit Facility (Note 4)	n/a	3.60%	2.55%	220,000			210,000
Vermont Yankee Credit Facility (Note 4)	n/a	3.50%	2.64%	139,000			103,500
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	3.48%	2.87%	59,600			24,900
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	3.44%	2.38%	38,600			65,650
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	3.35%	2.64%	82,000			36,360
System Energy VIE Credit Facility (Note 4)	n/a	3.44%	2.52%	113,900			50,000
Long-term DOE Obligation (b)	—	—	—	186,864			183,435
Grand Gulf Lease Obligation (c)	n/a	(d)	(d)	34,352			34,356
Unamortized Premium and Discount - Net				(14,784		)	(13,911		)
Unamortized Debt Issuance Costs				(130,612		)	(126,033		)
Other				12,594			12,830
Total Long-Term Debt				16,168,312			15,075,266
Less Amount Due Within One Year				650,009			760,007
Long-Term Debt Excluding Amount Due Within One Year					$15,518,303			$14,315,259
Fair Value of Long-Term Debt (c)					$15,880,239			$15,367,453

(a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage 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 $34 million at System Energy and long-term DOE obligations of $187 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 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Amount
	(In Thousands)
2019		$650,000
2020		$934,000
2021		$1,340,792
2022		$1,065,237
2023		$1,715,523

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020.  Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2019. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020.

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 a supplement 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, 2018 and 2017 consisted of:

	2018			2017
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.75% Series due February 2021		$350,000			$350,000
3.05% Series due June 2023	250,000			250,000
3.7% Series due June 2024	375,000			375,000
3.5% Series due April 2026	600,000			600,000
4.0% Series due June 2028	250,000			—
4.95% Series due December 2044	250,000			250,000
4.90% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			125,000
4.875% Series due September 2066	410,000			410,000
Total mortgage bonds	2,810,000			2,560,000
Governmental Bonds (a):
2.375% Series due 2021, Independence County (d)	45,000			45,000
Total governmental bonds	45,000			45,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.65% Series L due July 2021	90,000			90,000
3.17% Series M due December 2023	40,000			40,000
Credit Facility due September 2021, weighted avg rate 3.48%	59,600			24,900
Total variable interest entity notes payable and credit facility	189,600			154,900
Securitization Bonds:
2.30% Series Senior Secured due August 2021	21,692			35,764
Total securitization bonds	21,692			35,764
Other:
Long-term DOE Obligation (b)	186,864			183,435
Unamortized Premium and Discount – Net	4,408			5,307
Unamortized Debt Issuance Costs	(33,831		)	(34,049		)
Other	2,026			2,042
Total Long-Term Debt	3,225,759			2,952,399
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$3,225,759			$2,952,399
Fair Value of Long-Term Debt (c)		$3,002,627			$2,865,844

	2018			2017
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$—			$375,000
6.50% Series due September 2018	—			300,000
3.95% Series due October 2020	250,000			250,000
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			325,000
5.59% Series due October 2024	300,000			300,000
5.40% Series due November 2024	400,000			400,000
3.78% Series due April 2025	110,000			110,000
3.78% Series due April 2025	190,000			190,000
4.44% Series due January 2026	250,000			250,000
2.40% Series due October 2026	400,000			400,000
3.12% Series due September 2027	450,000			450,000
3.25% Series due April 2028	425,000			425,000
3.05% Series due June 2031	325,000			325,000
4.0% Series due March 2033	750,000			—
5.0% Series due July 2044	170,000			170,000
4.95% Series due January 2045	450,000			450,000
4.20% Series due September 2048	600,000			—
5.25% Series due July 2052	200,000			200,000
4.70% Series due June 2063	100,000			100,000
4.875% Series due September 2066	270,000			270,000
Total mortgage bonds	6,365,000			5,690,000
Governmental Bonds (a):
3.375 % Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
3.50% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	198,680			198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
3.38% Series R due August 2020	70,000			70,000
3.92% Series H due February 2021	40,000			40,000
3.22% Series I due December 2023	20,000			20,000
Credit Facility due September 2021, weighted avg rate 3.44%	38,600			65,650
Credit Facility due September 2021, weighted avg rate 3.35%	82,000			36,360
Total variable interest entity notes payable and credit facilities	250,600			232,010
Securitization Bonds:
2.04% Series Senior Secured due September 2023	56,910			79,228
Total securitization bonds	56,910			79,228
Other:
Unamortized Premium and Discount - Net	(14,955		)	(13,877		)
Unamortized Debt Issuance Costs	(57,011		)	(48,540		)
Other	6,544			6,570
Total Long-Term Debt	6,805,768			6,144,071
Less Amount Due Within One Year	2			675,002
Long-Term Debt Excluding Amount Due Within One Year		$6,805,766			$5,469,069
Fair Value of Long-Term Debt (c)		$6,834,134			$6,389,774

	2018			2017
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
6.64% Series due July 2019		$150,000			$150,000
3.1% Series due July 2023	250,000			250,000
3.75% Series due July 2024	100,000			100,000
3.25% Series due December 2027	150,000			150,000
2.85% Series due June 2028	375,000			375,000
4.52% Series due December 2038	55,000			—
4.90% Series due October 2066	260,000			260,000
Total mortgage bonds	1,340,000			1,285,000
Other:
Unamortized Premium and Discount – Net	(989		)	(1,155		)
Unamortized Debt Issuance Costs	(13,261		)	(13,723		)
Total Long-Term Debt	1,325,750			1,270,122
Less Amount Due Within One Year	150,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,175,750			$1,270,122
Fair Value of Long-Term Debt (c)		$1,276,452			$1,285,741

	2018			2017
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.10% Series due December 2020		$25,000			$25,000
3.9% Series due July 2023	100,000			100,000
4.0% Series due June 2026	85,000			85,000
4.51% Series due September 2033	60,000			—
5.0% Series due December 2052	30,000			30,000
5.50% Series due April 2066	110,000			110,000
Total mortgage bonds	410,000			350,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	65,666			76,707
Total securitization bonds	65,666			76,707
Other:
Payable to associated company due November 2035	16,346			18,423
Unamortized Premium and Discount – Net	(168		)	(206		)
Unamortized Debt Issuance Costs	(8,140		)	(8,054		)
Total Long-Term Debt	483,704			436,870
Less Amount Due Within One Year	1,979			2,077
Long-Term Debt Excluding Amount Due Within One Year		$481,725			$434,793
Fair Value of Long-Term Debt (c)		$491,569			$455,968

	2018			2017
	(In Thousands)
Entergy Texas
Mortgage Bonds:
7.125% Series due February 2019		$500,000			$500,000
2.55% Series due June 2021	125,000			125,000
4.1% Series due September 2021	75,000			75,000
3.45% Series due December 2027	150,000			150,000
5.15% Series due June 2045	250,000			250,000
5.625% Series due June 2064	135,000			135,000
Total mortgage bonds	1,235,000			1,235,000
Securitization Bonds:
3.65% Series Senior Secured, Series A due August 2019	—			30,769
5.93% Series Senior Secured, Series A due June 2022	81,237			110,431
4.38% Series Senior Secured, Series A due November 2023	203,613			218,600
Total securitization bonds	284,850			359,800
Other:
Unamortized Premium and Discount - Net	(992		)	(1,498		)
Unamortized Debt Issuance Costs	(9,145		)	(10,366		)
Other	4,022			4,214
Total Long-Term Debt	1,513,735			1,587,150
Less Amount Due Within One Year	500,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,013,735			$1,587,150
Fair Value of Long-Term Debt (c)		$1,528,828			$1,661,902

	2018			2017
	(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.	134,000			134,000
Total governmental bonds	134,000			134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.78% Series I due October 2018	—			85,000
3.42% Series J due April 2021	100,000			—
Credit Facility due September 2021, weighted avg rate 3.44%	113,900			50,000
Total variable interest entity notes payable and credit facility	213,900			135,000
Other:
Grand Gulf Lease Obligation (e)	34,352			34,356
Unamortized Premium and Discount – Net	(328		)	(415		)
Unamortized Debt Issuance Costs	(1,176		)	(1,455		)
Other	2			2
Total Long-Term Debt	630,750			551,488
Less Amount Due Within One Year	6			85,004
Long-Term Debt Excluding Amount Due Within One Year		$630,744			$466,484
Fair Value of Long-Term Debt (c)		$596,123			$529,119

(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 $34 million at System Energy and long-term DOE obligations of $187 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 15 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 mortgage bonds.

(e) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Entergy Arkansas		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
2019		$—		$—		$150,000		$—		$500,000		$—
2020		$—		$320,000		$—		$25,000		$—		$—
2021		$566,292		$360,600		$—		$—		$200,000		$213,900
2022		$—		$200,000		$—		$—		$81,237		$134,000
2023		$290,000		$401,910		$250,000		$100,000		$203,613		$250,000

Entergy Texas Debt Issuance

In January 2019, Entergy Texas issued $300 million of 4.00% Series first mortgage bonds due March 2029 and $400 million of 4.50% Series first mortgage bonds due March 2039. Entergy Texas used the proceeds to repay at maturity its $500 million of 7.125% Series first mortgage bonds due February 2019 and for general corporate purposes.

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%.  Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next two years in the amount of $14.4 million for 2019 and $7.3 million for 2020. 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 canceled 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%.  Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next three years in the amounts of $22.7 million for 2019, $23.2 million for 2020, and $11 million for 2021.  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 New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.2 million for 2019, $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, and $12.5 million for 2023. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans 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 New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm 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 (a)	114,400
Total senior secured transition bonds		$329,500

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $81.2 million.

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 three years in the amounts of $30.9 million for 2019, $32.8 million for 2020, and $17.5 million for 2021. All of the scheduled principal payments for 2019-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 (a)	218,600
Total senior secured transition bonds		$545,900

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $203.6 million.

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 four years in the amount of $47.6 million for 2019, $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2018 and 2017 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2018	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2018	2017	2018			2017
				(In Thousands)
Mortgage Bonds
2018-2022	3.86%	2.55%-7.125%	2.55%-7.125%		$1,875,000			$2,550,000
2023-2027	3.71%	2.40%-5.59%	2.40%-5.59%	4,735,000			4,735,000
2028-2038	3.63%	2.85%-4.52%	2.85%-3.25%	2,240,000			1,125,000
2044-2066	4.88%	4.20%-5.625%	4.70%-5.625%	3,560,000			2,960,000
Governmental Bonds (a)
2021-2022	5.28%	2.375%-5.875%	2.375%-5.875%	179,000			179,000
2028-2030	3.45%	3.375%-3.50%	3.375%-3.50%	198,680			198,680
Securitization Bonds
2019-2027	3.79%	2.04%-5.93%	2.04%-5.93%	429,118			551,499
Variable Interest Entities Notes Payable (Note 4)
2018-2023	3.44%	3.17%-3.92%	3.17%-3.92%	360,000			345,000
Entergy Corporation Notes
due September 2020	n/a	5.125%	5.125%	450,000			450,000
due July 2022	n/a	4.00%	4.00%	650,000			650,000
due September 2026	n/a	2.95%	2.95%	750,000			750,000
5 Year Credit Facility (Note 4)	n/a	3.60%	2.55%	220,000			210,000
Vermont Yankee Credit Facility (Note 4)	n/a	3.50%	2.64%	139,000			103,500
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	3.48%	2.87%	59,600			24,900
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	3.44%	2.38%	38,600			65,650
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	3.35%	2.64%	82,000			36,360
System Energy VIE Credit Facility (Note 4)	n/a	3.44%	2.52%	113,900			50,000
Long-term DOE Obligation (b)	—	—	—	186,864			183,435
Grand Gulf Lease Obligation (c)	n/a	(d)	(d)	34,352			34,356
Unamortized Premium and Discount - Net				(14,784		)	(13,911		)
Unamortized Debt Issuance Costs				(130,612		)	(126,033		)
Other				12,594			12,830
Total Long-Term Debt				16,168,312			15,075,266
Less Amount Due Within One Year				650,009			760,007
Long-Term Debt Excluding Amount Due Within One Year					$15,518,303			$14,315,259
Fair Value of Long-Term Debt (c)					$15,880,239			$15,367,453

(a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage 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 $34 million at System Energy and long-term DOE obligations of $187 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 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Amount
	(In Thousands)
2019		$650,000
2020		$934,000
2021		$1,340,792
2022		$1,065,237
2023		$1,715,523

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020.  Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2019. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020.

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 a supplement 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, 2018 and 2017 consisted of:

	2018			2017
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.75% Series due February 2021		$350,000			$350,000
3.05% Series due June 2023	250,000			250,000
3.7% Series due June 2024	375,000			375,000
3.5% Series due April 2026	600,000			600,000
4.0% Series due June 2028	250,000			—
4.95% Series due December 2044	250,000			250,000
4.90% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			125,000
4.875% Series due September 2066	410,000			410,000
Total mortgage bonds	2,810,000			2,560,000
Governmental Bonds (a):
2.375% Series due 2021, Independence County (d)	45,000			45,000
Total governmental bonds	45,000			45,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.65% Series L due July 2021	90,000			90,000
3.17% Series M due December 2023	40,000			40,000
Credit Facility due September 2021, weighted avg rate 3.48%	59,600			24,900
Total variable interest entity notes payable and credit facility	189,600			154,900
Securitization Bonds:
2.30% Series Senior Secured due August 2021	21,692			35,764
Total securitization bonds	21,692			35,764
Other:
Long-term DOE Obligation (b)	186,864			183,435
Unamortized Premium and Discount – Net	4,408			5,307
Unamortized Debt Issuance Costs	(33,831		)	(34,049		)
Other	2,026			2,042
Total Long-Term Debt	3,225,759			2,952,399
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$3,225,759			$2,952,399
Fair Value of Long-Term Debt (c)		$3,002,627			$2,865,844

	2018			2017
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$—			$375,000
6.50% Series due September 2018	—			300,000
3.95% Series due October 2020	250,000			250,000
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			325,000
5.59% Series due October 2024	300,000			300,000
5.40% Series due November 2024	400,000			400,000
3.78% Series due April 2025	110,000			110,000
3.78% Series due April 2025	190,000			190,000
4.44% Series due January 2026	250,000			250,000
2.40% Series due October 2026	400,000			400,000
3.12% Series due September 2027	450,000			450,000
3.25% Series due April 2028	425,000			425,000
3.05% Series due June 2031	325,000			325,000
4.0% Series due March 2033	750,000			—
5.0% Series due July 2044	170,000			170,000
4.95% Series due January 2045	450,000			450,000
4.20% Series due September 2048	600,000			—
5.25% Series due July 2052	200,000			200,000
4.70% Series due June 2063	100,000			100,000
4.875% Series due September 2066	270,000			270,000
Total mortgage bonds	6,365,000			5,690,000
Governmental Bonds (a):
3.375 % Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
3.50% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	198,680			198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
3.38% Series R due August 2020	70,000			70,000
3.92% Series H due February 2021	40,000			40,000
3.22% Series I due December 2023	20,000			20,000
Credit Facility due September 2021, weighted avg rate 3.44%	38,600			65,650
Credit Facility due September 2021, weighted avg rate 3.35%	82,000			36,360
Total variable interest entity notes payable and credit facilities	250,600			232,010
Securitization Bonds:
2.04% Series Senior Secured due September 2023	56,910			79,228
Total securitization bonds	56,910			79,228
Other:
Unamortized Premium and Discount - Net	(14,955		)	(13,877		)
Unamortized Debt Issuance Costs	(57,011		)	(48,540		)
Other	6,544			6,570
Total Long-Term Debt	6,805,768			6,144,071
Less Amount Due Within One Year	2			675,002
Long-Term Debt Excluding Amount Due Within One Year		$6,805,766			$5,469,069
Fair Value of Long-Term Debt (c)		$6,834,134			$6,389,774

	2018			2017
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
6.64% Series due July 2019		$150,000			$150,000
3.1% Series due July 2023	250,000			250,000
3.75% Series due July 2024	100,000			100,000
3.25% Series due December 2027	150,000			150,000
2.85% Series due June 2028	375,000			375,000
4.52% Series due December 2038	55,000			—
4.90% Series due October 2066	260,000			260,000
Total mortgage bonds	1,340,000			1,285,000
Other:
Unamortized Premium and Discount – Net	(989		)	(1,155		)
Unamortized Debt Issuance Costs	(13,261		)	(13,723		)
Total Long-Term Debt	1,325,750			1,270,122
Less Amount Due Within One Year	150,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,175,750			$1,270,122
Fair Value of Long-Term Debt (c)		$1,276,452			$1,285,741

	2018			2017
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.10% Series due December 2020		$25,000			$25,000
3.9% Series due July 2023	100,000			100,000
4.0% Series due June 2026	85,000			85,000
4.51% Series due September 2033	60,000			—
5.0% Series due December 2052	30,000			30,000
5.50% Series due April 2066	110,000			110,000
Total mortgage bonds	410,000			350,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	65,666			76,707
Total securitization bonds	65,666			76,707
Other:
Payable to associated company due November 2035	16,346			18,423
Unamortized Premium and Discount – Net	(168		)	(206		)
Unamortized Debt Issuance Costs	(8,140		)	(8,054		)
Total Long-Term Debt	483,704			436,870
Less Amount Due Within One Year	1,979			2,077
Long-Term Debt Excluding Amount Due Within One Year		$481,725			$434,793
Fair Value of Long-Term Debt (c)		$491,569			$455,968

	2018			2017
	(In Thousands)
Entergy Texas
Mortgage Bonds:
7.125% Series due February 2019		$500,000			$500,000
2.55% Series due June 2021	125,000			125,000
4.1% Series due September 2021	75,000			75,000
3.45% Series due December 2027	150,000			150,000
5.15% Series due June 2045	250,000			250,000
5.625% Series due June 2064	135,000			135,000
Total mortgage bonds	1,235,000			1,235,000
Securitization Bonds:
3.65% Series Senior Secured, Series A due August 2019	—			30,769
5.93% Series Senior Secured, Series A due June 2022	81,237			110,431
4.38% Series Senior Secured, Series A due November 2023	203,613			218,600
Total securitization bonds	284,850			359,800
Other:
Unamortized Premium and Discount - Net	(992		)	(1,498		)
Unamortized Debt Issuance Costs	(9,145		)	(10,366		)
Other	4,022			4,214
Total Long-Term Debt	1,513,735			1,587,150
Less Amount Due Within One Year	500,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,013,735			$1,587,150
Fair Value of Long-Term Debt (c)		$1,528,828			$1,661,902

	2018			2017
	(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.	134,000			134,000
Total governmental bonds	134,000			134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.78% Series I due October 2018	—			85,000
3.42% Series J due April 2021	100,000			—
Credit Facility due September 2021, weighted avg rate 3.44%	113,900			50,000
Total variable interest entity notes payable and credit facility	213,900			135,000
Other:
Grand Gulf Lease Obligation (e)	34,352			34,356
Unamortized Premium and Discount – Net	(328		)	(415		)
Unamortized Debt Issuance Costs	(1,176		)	(1,455		)
Other	2			2
Total Long-Term Debt	630,750			551,488
Less Amount Due Within One Year	6			85,004
Long-Term Debt Excluding Amount Due Within One Year		$630,744			$466,484
Fair Value of Long-Term Debt (c)		$596,123			$529,119

(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 $34 million at System Energy and long-term DOE obligations of $187 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 15 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 mortgage bonds.

(e) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Entergy Arkansas		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
2019		$—		$—		$150,000		$—		$500,000		$—
2020		$—		$320,000		$—		$25,000		$—		$—
2021		$566,292		$360,600		$—		$—		$200,000		$213,900
2022		$—		$200,000		$—		$—		$81,237		$134,000
2023		$290,000		$401,910		$250,000		$100,000		$203,613		$250,000

Entergy Texas Debt Issuance

In January 2019, Entergy Texas issued $300 million of 4.00% Series first mortgage bonds due March 2029 and $400 million of 4.50% Series first mortgage bonds due March 2039. Entergy Texas used the proceeds to repay at maturity its $500 million of 7.125% Series first mortgage bonds due February 2019 and for general corporate purposes.

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%.  Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next two years in the amount of $14.4 million for 2019 and $7.3 million for 2020. 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 canceled 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%.  Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next three years in the amounts of $22.7 million for 2019, $23.2 million for 2020, and $11 million for 2021.  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 New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.2 million for 2019, $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, and $12.5 million for 2023. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans 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 New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm 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 (a)	114,400
Total senior secured transition bonds		$329,500

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $81.2 million.

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 three years in the amounts of $30.9 million for 2019, $32.8 million for 2020, and $17.5 million for 2021. All of the scheduled principal payments for 2019-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 (a)	218,600
Total senior secured transition bonds		$545,900

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $203.6 million.

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 four years in the amount of $47.6 million for 2019, $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2018 and 2017 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2018	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2018	2017	2018			2017
				(In Thousands)
Mortgage Bonds
2018-2022	3.86%	2.55%-7.125%	2.55%-7.125%		$1,875,000			$2,550,000
2023-2027	3.71%	2.40%-5.59%	2.40%-5.59%	4,735,000			4,735,000
2028-2038	3.63%	2.85%-4.52%	2.85%-3.25%	2,240,000			1,125,000
2044-2066	4.88%	4.20%-5.625%	4.70%-5.625%	3,560,000			2,960,000
Governmental Bonds (a)
2021-2022	5.28%	2.375%-5.875%	2.375%-5.875%	179,000			179,000
2028-2030	3.45%	3.375%-3.50%	3.375%-3.50%	198,680			198,680
Securitization Bonds
2019-2027	3.79%	2.04%-5.93%	2.04%-5.93%	429,118			551,499
Variable Interest Entities Notes Payable (Note 4)
2018-2023	3.44%	3.17%-3.92%	3.17%-3.92%	360,000			345,000
Entergy Corporation Notes
due September 2020	n/a	5.125%	5.125%	450,000			450,000
due July 2022	n/a	4.00%	4.00%	650,000			650,000
due September 2026	n/a	2.95%	2.95%	750,000			750,000
5 Year Credit Facility (Note 4)	n/a	3.60%	2.55%	220,000			210,000
Vermont Yankee Credit Facility (Note 4)	n/a	3.50%	2.64%	139,000			103,500
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	3.48%	2.87%	59,600			24,900
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	3.44%	2.38%	38,600			65,650
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	3.35%	2.64%	82,000			36,360
System Energy VIE Credit Facility (Note 4)	n/a	3.44%	2.52%	113,900			50,000
Long-term DOE Obligation (b)	—	—	—	186,864			183,435
Grand Gulf Lease Obligation (c)	n/a	(d)	(d)	34,352			34,356
Unamortized Premium and Discount - Net				(14,784		)	(13,911		)
Unamortized Debt Issuance Costs				(130,612		)	(126,033		)
Other				12,594			12,830
Total Long-Term Debt				16,168,312			15,075,266
Less Amount Due Within One Year				650,009			760,007
Long-Term Debt Excluding Amount Due Within One Year					$15,518,303			$14,315,259
Fair Value of Long-Term Debt (c)					$15,880,239			$15,367,453

(a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage 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 $34 million at System Energy and long-term DOE obligations of $187 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 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Amount
	(In Thousands)
2019		$650,000
2020		$934,000
2021		$1,340,792
2022		$1,065,237
2023		$1,715,523

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020.  Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2019. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020.

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 a supplement 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, 2018 and 2017 consisted of:

	2018			2017
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.75% Series due February 2021		$350,000			$350,000
3.05% Series due June 2023	250,000			250,000
3.7% Series due June 2024	375,000			375,000
3.5% Series due April 2026	600,000			600,000
4.0% Series due June 2028	250,000			—
4.95% Series due December 2044	250,000			250,000
4.90% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			125,000
4.875% Series due September 2066	410,000			410,000
Total mortgage bonds	2,810,000			2,560,000
Governmental Bonds (a):
2.375% Series due 2021, Independence County (d)	45,000			45,000
Total governmental bonds	45,000			45,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.65% Series L due July 2021	90,000			90,000
3.17% Series M due December 2023	40,000			40,000
Credit Facility due September 2021, weighted avg rate 3.48%	59,600			24,900
Total variable interest entity notes payable and credit facility	189,600			154,900
Securitization Bonds:
2.30% Series Senior Secured due August 2021	21,692			35,764
Total securitization bonds	21,692			35,764
Other:
Long-term DOE Obligation (b)	186,864			183,435
Unamortized Premium and Discount – Net	4,408			5,307
Unamortized Debt Issuance Costs	(33,831		)	(34,049		)
Other	2,026			2,042
Total Long-Term Debt	3,225,759			2,952,399
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$3,225,759			$2,952,399
Fair Value of Long-Term Debt (c)		$3,002,627			$2,865,844

	2018			2017
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$—			$375,000
6.50% Series due September 2018	—			300,000
3.95% Series due October 2020	250,000			250,000
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			325,000
5.59% Series due October 2024	300,000			300,000
5.40% Series due November 2024	400,000			400,000
3.78% Series due April 2025	110,000			110,000
3.78% Series due April 2025	190,000			190,000
4.44% Series due January 2026	250,000			250,000
2.40% Series due October 2026	400,000			400,000
3.12% Series due September 2027	450,000			450,000
3.25% Series due April 2028	425,000			425,000
3.05% Series due June 2031	325,000			325,000
4.0% Series due March 2033	750,000			—
5.0% Series due July 2044	170,000			170,000
4.95% Series due January 2045	450,000			450,000
4.20% Series due September 2048	600,000			—
5.25% Series due July 2052	200,000			200,000
4.70% Series due June 2063	100,000			100,000
4.875% Series due September 2066	270,000			270,000
Total mortgage bonds	6,365,000			5,690,000
Governmental Bonds (a):
3.375 % Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
3.50% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	198,680			198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
3.38% Series R due August 2020	70,000			70,000
3.92% Series H due February 2021	40,000			40,000
3.22% Series I due December 2023	20,000			20,000
Credit Facility due September 2021, weighted avg rate 3.44%	38,600			65,650
Credit Facility due September 2021, weighted avg rate 3.35%	82,000			36,360
Total variable interest entity notes payable and credit facilities	250,600			232,010
Securitization Bonds:
2.04% Series Senior Secured due September 2023	56,910			79,228
Total securitization bonds	56,910			79,228
Other:
Unamortized Premium and Discount - Net	(14,955		)	(13,877		)
Unamortized Debt Issuance Costs	(57,011		)	(48,540		)
Other	6,544			6,570
Total Long-Term Debt	6,805,768			6,144,071
Less Amount Due Within One Year	2			675,002
Long-Term Debt Excluding Amount Due Within One Year		$6,805,766			$5,469,069
Fair Value of Long-Term Debt (c)		$6,834,134			$6,389,774

	2018			2017
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
6.64% Series due July 2019		$150,000			$150,000
3.1% Series due July 2023	250,000			250,000
3.75% Series due July 2024	100,000			100,000
3.25% Series due December 2027	150,000			150,000
2.85% Series due June 2028	375,000			375,000
4.52% Series due December 2038	55,000			—
4.90% Series due October 2066	260,000			260,000
Total mortgage bonds	1,340,000			1,285,000
Other:
Unamortized Premium and Discount – Net	(989		)	(1,155		)
Unamortized Debt Issuance Costs	(13,261		)	(13,723		)
Total Long-Term Debt	1,325,750			1,270,122
Less Amount Due Within One Year	150,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,175,750			$1,270,122
Fair Value of Long-Term Debt (c)		$1,276,452			$1,285,741

	2018			2017
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.10% Series due December 2020		$25,000			$25,000
3.9% Series due July 2023	100,000			100,000
4.0% Series due June 2026	85,000			85,000
4.51% Series due September 2033	60,000			—
5.0% Series due December 2052	30,000			30,000
5.50% Series due April 2066	110,000			110,000
Total mortgage bonds	410,000			350,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	65,666			76,707
Total securitization bonds	65,666			76,707
Other:
Payable to associated company due November 2035	16,346			18,423
Unamortized Premium and Discount – Net	(168		)	(206		)
Unamortized Debt Issuance Costs	(8,140		)	(8,054		)
Total Long-Term Debt	483,704			436,870
Less Amount Due Within One Year	1,979			2,077
Long-Term Debt Excluding Amount Due Within One Year		$481,725			$434,793
Fair Value of Long-Term Debt (c)		$491,569			$455,968

	2018			2017
	(In Thousands)
Entergy Texas
Mortgage Bonds:
7.125% Series due February 2019		$500,000			$500,000
2.55% Series due June 2021	125,000			125,000
4.1% Series due September 2021	75,000			75,000
3.45% Series due December 2027	150,000			150,000
5.15% Series due June 2045	250,000			250,000
5.625% Series due June 2064	135,000			135,000
Total mortgage bonds	1,235,000			1,235,000
Securitization Bonds:
3.65% Series Senior Secured, Series A due August 2019	—			30,769
5.93% Series Senior Secured, Series A due June 2022	81,237			110,431
4.38% Series Senior Secured, Series A due November 2023	203,613			218,600
Total securitization bonds	284,850			359,800
Other:
Unamortized Premium and Discount - Net	(992		)	(1,498		)
Unamortized Debt Issuance Costs	(9,145		)	(10,366		)
Other	4,022			4,214
Total Long-Term Debt	1,513,735			1,587,150
Less Amount Due Within One Year	500,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,013,735			$1,587,150
Fair Value of Long-Term Debt (c)		$1,528,828			$1,661,902

	2018			2017
	(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.	134,000			134,000
Total governmental bonds	134,000			134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.78% Series I due October 2018	—			85,000
3.42% Series J due April 2021	100,000			—
Credit Facility due September 2021, weighted avg rate 3.44%	113,900			50,000
Total variable interest entity notes payable and credit facility	213,900			135,000
Other:
Grand Gulf Lease Obligation (e)	34,352			34,356
Unamortized Premium and Discount – Net	(328		)	(415		)
Unamortized Debt Issuance Costs	(1,176		)	(1,455		)
Other	2			2
Total Long-Term Debt	630,750			551,488
Less Amount Due Within One Year	6			85,004
Long-Term Debt Excluding Amount Due Within One Year		$630,744			$466,484
Fair Value of Long-Term Debt (c)		$596,123			$529,119

(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 $34 million at System Energy and long-term DOE obligations of $187 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 15 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 mortgage bonds.

(e) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Entergy Arkansas		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
2019		$—		$—		$150,000		$—		$500,000		$—
2020		$—		$320,000		$—		$25,000		$—		$—
2021		$566,292		$360,600		$—		$—		$200,000		$213,900
2022		$—		$200,000		$—		$—		$81,237		$134,000
2023		$290,000		$401,910		$250,000		$100,000		$203,613		$250,000

Entergy Texas Debt Issuance

In January 2019, Entergy Texas issued $300 million of 4.00% Series first mortgage bonds due March 2029 and $400 million of 4.50% Series first mortgage bonds due March 2039. Entergy Texas used the proceeds to repay at maturity its $500 million of 7.125% Series first mortgage bonds due February 2019 and for general corporate purposes.

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%.  Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next two years in the amount of $14.4 million for 2019 and $7.3 million for 2020. 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 canceled 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%.  Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next three years in the amounts of $22.7 million for 2019, $23.2 million for 2020, and $11 million for 2021.  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 New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.2 million for 2019, $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, and $12.5 million for 2023. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans 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 New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm 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 (a)	114,400
Total senior secured transition bonds		$329,500

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $81.2 million.

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 three years in the amounts of $30.9 million for 2019, $32.8 million for 2020, and $17.5 million for 2021. All of the scheduled principal payments for 2019-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 (a)	218,600
Total senior secured transition bonds		$545,900

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $203.6 million.

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 four years in the amount of $47.6 million for 2019, $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2018 and 2017 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2018	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2018	2017	2018			2017
				(In Thousands)
Mortgage Bonds
2018-2022	3.86%	2.55%-7.125%	2.55%-7.125%		$1,875,000			$2,550,000
2023-2027	3.71%	2.40%-5.59%	2.40%-5.59%	4,735,000			4,735,000
2028-2038	3.63%	2.85%-4.52%	2.85%-3.25%	2,240,000			1,125,000
2044-2066	4.88%	4.20%-5.625%	4.70%-5.625%	3,560,000			2,960,000
Governmental Bonds (a)
2021-2022	5.28%	2.375%-5.875%	2.375%-5.875%	179,000			179,000
2028-2030	3.45%	3.375%-3.50%	3.375%-3.50%	198,680			198,680
Securitization Bonds
2019-2027	3.79%	2.04%-5.93%	2.04%-5.93%	429,118			551,499
Variable Interest Entities Notes Payable (Note 4)
2018-2023	3.44%	3.17%-3.92%	3.17%-3.92%	360,000			345,000
Entergy Corporation Notes
due September 2020	n/a	5.125%	5.125%	450,000			450,000
due July 2022	n/a	4.00%	4.00%	650,000			650,000
due September 2026	n/a	2.95%	2.95%	750,000			750,000
5 Year Credit Facility (Note 4)	n/a	3.60%	2.55%	220,000			210,000
Vermont Yankee Credit Facility (Note 4)	n/a	3.50%	2.64%	139,000			103,500
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	3.48%	2.87%	59,600			24,900
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	3.44%	2.38%	38,600			65,650
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	3.35%	2.64%	82,000			36,360
System Energy VIE Credit Facility (Note 4)	n/a	3.44%	2.52%	113,900			50,000
Long-term DOE Obligation (b)	—	—	—	186,864			183,435
Grand Gulf Lease Obligation (c)	n/a	(d)	(d)	34,352			34,356
Unamortized Premium and Discount - Net				(14,784		)	(13,911		)
Unamortized Debt Issuance Costs				(130,612		)	(126,033		)
Other				12,594			12,830
Total Long-Term Debt				16,168,312			15,075,266
Less Amount Due Within One Year				650,009			760,007
Long-Term Debt Excluding Amount Due Within One Year					$15,518,303			$14,315,259
Fair Value of Long-Term Debt (c)					$15,880,239			$15,367,453

(a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage 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 $34 million at System Energy and long-term DOE obligations of $187 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 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Amount
	(In Thousands)
2019		$650,000
2020		$934,000
2021		$1,340,792
2022		$1,065,237
2023		$1,715,523

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020.  Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2019. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020.

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 a supplement 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, 2018 and 2017 consisted of:

	2018			2017
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.75% Series due February 2021		$350,000			$350,000
3.05% Series due June 2023	250,000			250,000
3.7% Series due June 2024	375,000			375,000
3.5% Series due April 2026	600,000			600,000
4.0% Series due June 2028	250,000			—
4.95% Series due December 2044	250,000			250,000
4.90% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			125,000
4.875% Series due September 2066	410,000			410,000
Total mortgage bonds	2,810,000			2,560,000
Governmental Bonds (a):
2.375% Series due 2021, Independence County (d)	45,000			45,000
Total governmental bonds	45,000			45,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.65% Series L due July 2021	90,000			90,000
3.17% Series M due December 2023	40,000			40,000
Credit Facility due September 2021, weighted avg rate 3.48%	59,600			24,900
Total variable interest entity notes payable and credit facility	189,600			154,900
Securitization Bonds:
2.30% Series Senior Secured due August 2021	21,692			35,764
Total securitization bonds	21,692			35,764
Other:
Long-term DOE Obligation (b)	186,864			183,435
Unamortized Premium and Discount – Net	4,408			5,307
Unamortized Debt Issuance Costs	(33,831		)	(34,049		)
Other	2,026			2,042
Total Long-Term Debt	3,225,759			2,952,399
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$3,225,759			$2,952,399
Fair Value of Long-Term Debt (c)		$3,002,627			$2,865,844

	2018			2017
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$—			$375,000
6.50% Series due September 2018	—			300,000
3.95% Series due October 2020	250,000			250,000
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			325,000
5.59% Series due October 2024	300,000			300,000
5.40% Series due November 2024	400,000			400,000
3.78% Series due April 2025	110,000			110,000
3.78% Series due April 2025	190,000			190,000
4.44% Series due January 2026	250,000			250,000
2.40% Series due October 2026	400,000			400,000
3.12% Series due September 2027	450,000			450,000
3.25% Series due April 2028	425,000			425,000
3.05% Series due June 2031	325,000			325,000
4.0% Series due March 2033	750,000			—
5.0% Series due July 2044	170,000			170,000
4.95% Series due January 2045	450,000			450,000
4.20% Series due September 2048	600,000			—
5.25% Series due July 2052	200,000			200,000
4.70% Series due June 2063	100,000			100,000
4.875% Series due September 2066	270,000			270,000
Total mortgage bonds	6,365,000			5,690,000
Governmental Bonds (a):
3.375 % Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
3.50% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	198,680			198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
3.38% Series R due August 2020	70,000			70,000
3.92% Series H due February 2021	40,000			40,000
3.22% Series I due December 2023	20,000			20,000
Credit Facility due September 2021, weighted avg rate 3.44%	38,600			65,650
Credit Facility due September 2021, weighted avg rate 3.35%	82,000			36,360
Total variable interest entity notes payable and credit facilities	250,600			232,010
Securitization Bonds:
2.04% Series Senior Secured due September 2023	56,910			79,228
Total securitization bonds	56,910			79,228
Other:
Unamortized Premium and Discount - Net	(14,955		)	(13,877		)
Unamortized Debt Issuance Costs	(57,011		)	(48,540		)
Other	6,544			6,570
Total Long-Term Debt	6,805,768			6,144,071
Less Amount Due Within One Year	2			675,002
Long-Term Debt Excluding Amount Due Within One Year		$6,805,766			$5,469,069
Fair Value of Long-Term Debt (c)		$6,834,134			$6,389,774

	2018			2017
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
6.64% Series due July 2019		$150,000			$150,000
3.1% Series due July 2023	250,000			250,000
3.75% Series due July 2024	100,000			100,000
3.25% Series due December 2027	150,000			150,000
2.85% Series due June 2028	375,000			375,000
4.52% Series due December 2038	55,000			—
4.90% Series due October 2066	260,000			260,000
Total mortgage bonds	1,340,000			1,285,000
Other:
Unamortized Premium and Discount – Net	(989		)	(1,155		)
Unamortized Debt Issuance Costs	(13,261		)	(13,723		)
Total Long-Term Debt	1,325,750			1,270,122
Less Amount Due Within One Year	150,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,175,750			$1,270,122
Fair Value of Long-Term Debt (c)		$1,276,452			$1,285,741

	2018			2017
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.10% Series due December 2020		$25,000			$25,000
3.9% Series due July 2023	100,000			100,000
4.0% Series due June 2026	85,000			85,000
4.51% Series due September 2033	60,000			—
5.0% Series due December 2052	30,000			30,000
5.50% Series due April 2066	110,000			110,000
Total mortgage bonds	410,000			350,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	65,666			76,707
Total securitization bonds	65,666			76,707
Other:
Payable to associated company due November 2035	16,346			18,423
Unamortized Premium and Discount – Net	(168		)	(206		)
Unamortized Debt Issuance Costs	(8,140		)	(8,054		)
Total Long-Term Debt	483,704			436,870
Less Amount Due Within One Year	1,979			2,077
Long-Term Debt Excluding Amount Due Within One Year		$481,725			$434,793
Fair Value of Long-Term Debt (c)		$491,569			$455,968

	2018			2017
	(In Thousands)
Entergy Texas
Mortgage Bonds:
7.125% Series due February 2019		$500,000			$500,000
2.55% Series due June 2021	125,000			125,000
4.1% Series due September 2021	75,000			75,000
3.45% Series due December 2027	150,000			150,000
5.15% Series due June 2045	250,000			250,000
5.625% Series due June 2064	135,000			135,000
Total mortgage bonds	1,235,000			1,235,000
Securitization Bonds:
3.65% Series Senior Secured, Series A due August 2019	—			30,769
5.93% Series Senior Secured, Series A due June 2022	81,237			110,431
4.38% Series Senior Secured, Series A due November 2023	203,613			218,600
Total securitization bonds	284,850			359,800
Other:
Unamortized Premium and Discount - Net	(992		)	(1,498		)
Unamortized Debt Issuance Costs	(9,145		)	(10,366		)
Other	4,022			4,214
Total Long-Term Debt	1,513,735			1,587,150
Less Amount Due Within One Year	500,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,013,735			$1,587,150
Fair Value of Long-Term Debt (c)		$1,528,828			$1,661,902

	2018			2017
	(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.	134,000			134,000
Total governmental bonds	134,000			134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.78% Series I due October 2018	—			85,000
3.42% Series J due April 2021	100,000			—
Credit Facility due September 2021, weighted avg rate 3.44%	113,900			50,000
Total variable interest entity notes payable and credit facility	213,900			135,000
Other:
Grand Gulf Lease Obligation (e)	34,352			34,356
Unamortized Premium and Discount – Net	(328		)	(415		)
Unamortized Debt Issuance Costs	(1,176		)	(1,455		)
Other	2			2
Total Long-Term Debt	630,750			551,488
Less Amount Due Within One Year	6			85,004
Long-Term Debt Excluding Amount Due Within One Year		$630,744			$466,484
Fair Value of Long-Term Debt (c)		$596,123			$529,119

(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 $34 million at System Energy and long-term DOE obligations of $187 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 15 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 mortgage bonds.

(e) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Entergy Arkansas		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
2019		$—		$—		$150,000		$—		$500,000		$—
2020		$—		$320,000		$—		$25,000		$—		$—
2021		$566,292		$360,600		$—		$—		$200,000		$213,900
2022		$—		$200,000		$—		$—		$81,237		$134,000
2023		$290,000		$401,910		$250,000		$100,000		$203,613		$250,000

Entergy Texas Debt Issuance

In January 2019, Entergy Texas issued $300 million of 4.00% Series first mortgage bonds due March 2029 and $400 million of 4.50% Series first mortgage bonds due March 2039. Entergy Texas used the proceeds to repay at maturity its $500 million of 7.125% Series first mortgage bonds due February 2019 and for general corporate purposes.

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%.  Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next two years in the amount of $14.4 million for 2019 and $7.3 million for 2020. 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 canceled 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%.  Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next three years in the amounts of $22.7 million for 2019, $23.2 million for 2020, and $11 million for 2021.  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 New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.2 million for 2019, $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, and $12.5 million for 2023. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans 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 New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm 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 (a)	114,400
Total senior secured transition bonds		$329,500

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $81.2 million.

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 three years in the amounts of $30.9 million for 2019, $32.8 million for 2020, and $17.5 million for 2021. All of the scheduled principal payments for 2019-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 (a)	218,600
Total senior secured transition bonds		$545,900

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $203.6 million.

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 four years in the amount of $47.6 million for 2019, $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2018 and 2017 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2018	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2018	2017	2018			2017
				(In Thousands)
Mortgage Bonds
2018-2022	3.86%	2.55%-7.125%	2.55%-7.125%		$1,875,000			$2,550,000
2023-2027	3.71%	2.40%-5.59%	2.40%-5.59%	4,735,000			4,735,000
2028-2038	3.63%	2.85%-4.52%	2.85%-3.25%	2,240,000			1,125,000
2044-2066	4.88%	4.20%-5.625%	4.70%-5.625%	3,560,000			2,960,000
Governmental Bonds (a)
2021-2022	5.28%	2.375%-5.875%	2.375%-5.875%	179,000			179,000
2028-2030	3.45%	3.375%-3.50%	3.375%-3.50%	198,680			198,680
Securitization Bonds
2019-2027	3.79%	2.04%-5.93%	2.04%-5.93%	429,118			551,499
Variable Interest Entities Notes Payable (Note 4)
2018-2023	3.44%	3.17%-3.92%	3.17%-3.92%	360,000			345,000
Entergy Corporation Notes
due September 2020	n/a	5.125%	5.125%	450,000			450,000
due July 2022	n/a	4.00%	4.00%	650,000			650,000
due September 2026	n/a	2.95%	2.95%	750,000			750,000
5 Year Credit Facility (Note 4)	n/a	3.60%	2.55%	220,000			210,000
Vermont Yankee Credit Facility (Note 4)	n/a	3.50%	2.64%	139,000			103,500
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	3.48%	2.87%	59,600			24,900
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	3.44%	2.38%	38,600			65,650
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	3.35%	2.64%	82,000			36,360
System Energy VIE Credit Facility (Note 4)	n/a	3.44%	2.52%	113,900			50,000
Long-term DOE Obligation (b)	—	—	—	186,864			183,435
Grand Gulf Lease Obligation (c)	n/a	(d)	(d)	34,352			34,356
Unamortized Premium and Discount - Net				(14,784		)	(13,911		)
Unamortized Debt Issuance Costs				(130,612		)	(126,033		)
Other				12,594			12,830
Total Long-Term Debt				16,168,312			15,075,266
Less Amount Due Within One Year				650,009			760,007
Long-Term Debt Excluding Amount Due Within One Year					$15,518,303			$14,315,259
Fair Value of Long-Term Debt (c)					$15,880,239			$15,367,453

(a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage 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 $34 million at System Energy and long-term DOE obligations of $187 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 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Amount
	(In Thousands)
2019		$650,000
2020		$934,000
2021		$1,340,792
2022		$1,065,237
2023		$1,715,523

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020.  Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2019. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020.

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 a supplement 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, 2018 and 2017 consisted of:

	2018			2017
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.75% Series due February 2021		$350,000			$350,000
3.05% Series due June 2023	250,000			250,000
3.7% Series due June 2024	375,000			375,000
3.5% Series due April 2026	600,000			600,000
4.0% Series due June 2028	250,000			—
4.95% Series due December 2044	250,000			250,000
4.90% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			125,000
4.875% Series due September 2066	410,000			410,000
Total mortgage bonds	2,810,000			2,560,000
Governmental Bonds (a):
2.375% Series due 2021, Independence County (d)	45,000			45,000
Total governmental bonds	45,000			45,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.65% Series L due July 2021	90,000			90,000
3.17% Series M due December 2023	40,000			40,000
Credit Facility due September 2021, weighted avg rate 3.48%	59,600			24,900
Total variable interest entity notes payable and credit facility	189,600			154,900
Securitization Bonds:
2.30% Series Senior Secured due August 2021	21,692			35,764
Total securitization bonds	21,692			35,764
Other:
Long-term DOE Obligation (b)	186,864			183,435
Unamortized Premium and Discount – Net	4,408			5,307
Unamortized Debt Issuance Costs	(33,831		)	(34,049		)
Other	2,026			2,042
Total Long-Term Debt	3,225,759			2,952,399
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$3,225,759			$2,952,399
Fair Value of Long-Term Debt (c)		$3,002,627			$2,865,844

	2018			2017
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$—			$375,000
6.50% Series due September 2018	—			300,000
3.95% Series due October 2020	250,000			250,000
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			325,000
5.59% Series due October 2024	300,000			300,000
5.40% Series due November 2024	400,000			400,000
3.78% Series due April 2025	110,000			110,000
3.78% Series due April 2025	190,000			190,000
4.44% Series due January 2026	250,000			250,000
2.40% Series due October 2026	400,000			400,000
3.12% Series due September 2027	450,000			450,000
3.25% Series due April 2028	425,000			425,000
3.05% Series due June 2031	325,000			325,000
4.0% Series due March 2033	750,000			—
5.0% Series due July 2044	170,000			170,000
4.95% Series due January 2045	450,000			450,000
4.20% Series due September 2048	600,000			—
5.25% Series due July 2052	200,000			200,000
4.70% Series due June 2063	100,000			100,000
4.875% Series due September 2066	270,000			270,000
Total mortgage bonds	6,365,000			5,690,000
Governmental Bonds (a):
3.375 % Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
3.50% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	198,680			198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
3.38% Series R due August 2020	70,000			70,000
3.92% Series H due February 2021	40,000			40,000
3.22% Series I due December 2023	20,000			20,000
Credit Facility due September 2021, weighted avg rate 3.44%	38,600			65,650
Credit Facility due September 2021, weighted avg rate 3.35%	82,000			36,360
Total variable interest entity notes payable and credit facilities	250,600			232,010
Securitization Bonds:
2.04% Series Senior Secured due September 2023	56,910			79,228
Total securitization bonds	56,910			79,228
Other:
Unamortized Premium and Discount - Net	(14,955		)	(13,877		)
Unamortized Debt Issuance Costs	(57,011		)	(48,540		)
Other	6,544			6,570
Total Long-Term Debt	6,805,768			6,144,071
Less Amount Due Within One Year	2			675,002
Long-Term Debt Excluding Amount Due Within One Year		$6,805,766			$5,469,069
Fair Value of Long-Term Debt (c)		$6,834,134			$6,389,774

	2018			2017
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
6.64% Series due July 2019		$150,000			$150,000
3.1% Series due July 2023	250,000			250,000
3.75% Series due July 2024	100,000			100,000
3.25% Series due December 2027	150,000			150,000
2.85% Series due June 2028	375,000			375,000
4.52% Series due December 2038	55,000			—
4.90% Series due October 2066	260,000			260,000
Total mortgage bonds	1,340,000			1,285,000
Other:
Unamortized Premium and Discount – Net	(989		)	(1,155		)
Unamortized Debt Issuance Costs	(13,261		)	(13,723		)
Total Long-Term Debt	1,325,750			1,270,122
Less Amount Due Within One Year	150,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,175,750			$1,270,122
Fair Value of Long-Term Debt (c)		$1,276,452			$1,285,741

	2018			2017
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.10% Series due December 2020		$25,000			$25,000
3.9% Series due July 2023	100,000			100,000
4.0% Series due June 2026	85,000			85,000
4.51% Series due September 2033	60,000			—
5.0% Series due December 2052	30,000			30,000
5.50% Series due April 2066	110,000			110,000
Total mortgage bonds	410,000			350,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	65,666			76,707
Total securitization bonds	65,666			76,707
Other:
Payable to associated company due November 2035	16,346			18,423
Unamortized Premium and Discount – Net	(168		)	(206		)
Unamortized Debt Issuance Costs	(8,140		)	(8,054		)
Total Long-Term Debt	483,704			436,870
Less Amount Due Within One Year	1,979			2,077
Long-Term Debt Excluding Amount Due Within One Year		$481,725			$434,793
Fair Value of Long-Term Debt (c)		$491,569			$455,968

	2018			2017
	(In Thousands)
Entergy Texas
Mortgage Bonds:
7.125% Series due February 2019		$500,000			$500,000
2.55% Series due June 2021	125,000			125,000
4.1% Series due September 2021	75,000			75,000
3.45% Series due December 2027	150,000			150,000
5.15% Series due June 2045	250,000			250,000
5.625% Series due June 2064	135,000			135,000
Total mortgage bonds	1,235,000			1,235,000
Securitization Bonds:
3.65% Series Senior Secured, Series A due August 2019	—			30,769
5.93% Series Senior Secured, Series A due June 2022	81,237			110,431
4.38% Series Senior Secured, Series A due November 2023	203,613			218,600
Total securitization bonds	284,850			359,800
Other:
Unamortized Premium and Discount - Net	(992		)	(1,498		)
Unamortized Debt Issuance Costs	(9,145		)	(10,366		)
Other	4,022			4,214
Total Long-Term Debt	1,513,735			1,587,150
Less Amount Due Within One Year	500,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,013,735			$1,587,150
Fair Value of Long-Term Debt (c)		$1,528,828			$1,661,902

	2018			2017
	(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.	134,000			134,000
Total governmental bonds	134,000			134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.78% Series I due October 2018	—			85,000
3.42% Series J due April 2021	100,000			—
Credit Facility due September 2021, weighted avg rate 3.44%	113,900			50,000
Total variable interest entity notes payable and credit facility	213,900			135,000
Other:
Grand Gulf Lease Obligation (e)	34,352			34,356
Unamortized Premium and Discount – Net	(328		)	(415		)
Unamortized Debt Issuance Costs	(1,176		)	(1,455		)
Other	2			2
Total Long-Term Debt	630,750			551,488
Less Amount Due Within One Year	6			85,004
Long-Term Debt Excluding Amount Due Within One Year		$630,744			$466,484
Fair Value of Long-Term Debt (c)		$596,123			$529,119

(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 $34 million at System Energy and long-term DOE obligations of $187 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 15 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 mortgage bonds.

(e) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Entergy Arkansas		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
2019		$—		$—		$150,000		$—		$500,000		$—
2020		$—		$320,000		$—		$25,000		$—		$—
2021		$566,292		$360,600		$—		$—		$200,000		$213,900
2022		$—		$200,000		$—		$—		$81,237		$134,000
2023		$290,000		$401,910		$250,000		$100,000		$203,613		$250,000

Entergy Texas Debt Issuance

In January 2019, Entergy Texas issued $300 million of 4.00% Series first mortgage bonds due March 2029 and $400 million of 4.50% Series first mortgage bonds due March 2039. Entergy Texas used the proceeds to repay at maturity its $500 million of 7.125% Series first mortgage bonds due February 2019 and for general corporate purposes.

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%.  Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next two years in the amount of $14.4 million for 2019 and $7.3 million for 2020. 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 canceled 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%.  Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next three years in the amounts of $22.7 million for 2019, $23.2 million for 2020, and $11 million for 2021.  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 New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.2 million for 2019, $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, and $12.5 million for 2023. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans 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 New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm 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 (a)	114,400
Total senior secured transition bonds		$329,500

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $81.2 million.

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 three years in the amounts of $30.9 million for 2019, $32.8 million for 2020, and $17.5 million for 2021. All of the scheduled principal payments for 2019-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 (a)	218,600
Total senior secured transition bonds		$545,900

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $203.6 million.

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 four years in the amount of $47.6 million for 2019, $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2018 and 2017 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2018	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2018	2017	2018			2017
				(In Thousands)
Mortgage Bonds
2018-2022	3.86%	2.55%-7.125%	2.55%-7.125%		$1,875,000			$2,550,000
2023-2027	3.71%	2.40%-5.59%	2.40%-5.59%	4,735,000			4,735,000
2028-2038	3.63%	2.85%-4.52%	2.85%-3.25%	2,240,000			1,125,000
2044-2066	4.88%	4.20%-5.625%	4.70%-5.625%	3,560,000			2,960,000
Governmental Bonds (a)
2021-2022	5.28%	2.375%-5.875%	2.375%-5.875%	179,000			179,000
2028-2030	3.45%	3.375%-3.50%	3.375%-3.50%	198,680			198,680
Securitization Bonds
2019-2027	3.79%	2.04%-5.93%	2.04%-5.93%	429,118			551,499
Variable Interest Entities Notes Payable (Note 4)
2018-2023	3.44%	3.17%-3.92%	3.17%-3.92%	360,000			345,000
Entergy Corporation Notes
due September 2020	n/a	5.125%	5.125%	450,000			450,000
due July 2022	n/a	4.00%	4.00%	650,000			650,000
due September 2026	n/a	2.95%	2.95%	750,000			750,000
5 Year Credit Facility (Note 4)	n/a	3.60%	2.55%	220,000			210,000
Vermont Yankee Credit Facility (Note 4)	n/a	3.50%	2.64%	139,000			103,500
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	3.48%	2.87%	59,600			24,900
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	3.44%	2.38%	38,600			65,650
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	3.35%	2.64%	82,000			36,360
System Energy VIE Credit Facility (Note 4)	n/a	3.44%	2.52%	113,900			50,000
Long-term DOE Obligation (b)	—	—	—	186,864			183,435
Grand Gulf Lease Obligation (c)	n/a	(d)	(d)	34,352			34,356
Unamortized Premium and Discount - Net				(14,784		)	(13,911		)
Unamortized Debt Issuance Costs				(130,612		)	(126,033		)
Other				12,594			12,830
Total Long-Term Debt				16,168,312			15,075,266
Less Amount Due Within One Year				650,009			760,007
Long-Term Debt Excluding Amount Due Within One Year					$15,518,303			$14,315,259
Fair Value of Long-Term Debt (c)					$15,880,239			$15,367,453

(a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage 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 $34 million at System Energy and long-term DOE obligations of $187 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 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Amount
	(In Thousands)
2019		$650,000
2020		$934,000
2021		$1,340,792
2022		$1,065,237
2023		$1,715,523

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020.  Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2019. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020.

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 a supplement 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, 2018 and 2017 consisted of:

	2018			2017
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.75% Series due February 2021		$350,000			$350,000
3.05% Series due June 2023	250,000			250,000
3.7% Series due June 2024	375,000			375,000
3.5% Series due April 2026	600,000			600,000
4.0% Series due June 2028	250,000			—
4.95% Series due December 2044	250,000			250,000
4.90% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			125,000
4.875% Series due September 2066	410,000			410,000
Total mortgage bonds	2,810,000			2,560,000
Governmental Bonds (a):
2.375% Series due 2021, Independence County (d)	45,000			45,000
Total governmental bonds	45,000			45,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.65% Series L due July 2021	90,000			90,000
3.17% Series M due December 2023	40,000			40,000
Credit Facility due September 2021, weighted avg rate 3.48%	59,600			24,900
Total variable interest entity notes payable and credit facility	189,600			154,900
Securitization Bonds:
2.30% Series Senior Secured due August 2021	21,692			35,764
Total securitization bonds	21,692			35,764
Other:
Long-term DOE Obligation (b)	186,864			183,435
Unamortized Premium and Discount – Net	4,408			5,307
Unamortized Debt Issuance Costs	(33,831		)	(34,049		)
Other	2,026			2,042
Total Long-Term Debt	3,225,759			2,952,399
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$3,225,759			$2,952,399
Fair Value of Long-Term Debt (c)		$3,002,627			$2,865,844

	2018			2017
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$—			$375,000
6.50% Series due September 2018	—			300,000
3.95% Series due October 2020	250,000			250,000
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			325,000
5.59% Series due October 2024	300,000			300,000
5.40% Series due November 2024	400,000			400,000
3.78% Series due April 2025	110,000			110,000
3.78% Series due April 2025	190,000			190,000
4.44% Series due January 2026	250,000			250,000
2.40% Series due October 2026	400,000			400,000
3.12% Series due September 2027	450,000			450,000
3.25% Series due April 2028	425,000			425,000
3.05% Series due June 2031	325,000			325,000
4.0% Series due March 2033	750,000			—
5.0% Series due July 2044	170,000			170,000
4.95% Series due January 2045	450,000			450,000
4.20% Series due September 2048	600,000			—
5.25% Series due July 2052	200,000			200,000
4.70% Series due June 2063	100,000			100,000
4.875% Series due September 2066	270,000			270,000
Total mortgage bonds	6,365,000			5,690,000
Governmental Bonds (a):
3.375 % Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
3.50% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	198,680			198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
3.38% Series R due August 2020	70,000			70,000
3.92% Series H due February 2021	40,000			40,000
3.22% Series I due December 2023	20,000			20,000
Credit Facility due September 2021, weighted avg rate 3.44%	38,600			65,650
Credit Facility due September 2021, weighted avg rate 3.35%	82,000			36,360
Total variable interest entity notes payable and credit facilities	250,600			232,010
Securitization Bonds:
2.04% Series Senior Secured due September 2023	56,910			79,228
Total securitization bonds	56,910			79,228
Other:
Unamortized Premium and Discount - Net	(14,955		)	(13,877		)
Unamortized Debt Issuance Costs	(57,011		)	(48,540		)
Other	6,544			6,570
Total Long-Term Debt	6,805,768			6,144,071
Less Amount Due Within One Year	2			675,002
Long-Term Debt Excluding Amount Due Within One Year		$6,805,766			$5,469,069
Fair Value of Long-Term Debt (c)		$6,834,134			$6,389,774

	2018			2017
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
6.64% Series due July 2019		$150,000			$150,000
3.1% Series due July 2023	250,000			250,000
3.75% Series due July 2024	100,000			100,000
3.25% Series due December 2027	150,000			150,000
2.85% Series due June 2028	375,000			375,000
4.52% Series due December 2038	55,000			—
4.90% Series due October 2066	260,000			260,000
Total mortgage bonds	1,340,000			1,285,000
Other:
Unamortized Premium and Discount – Net	(989		)	(1,155		)
Unamortized Debt Issuance Costs	(13,261		)	(13,723		)
Total Long-Term Debt	1,325,750			1,270,122
Less Amount Due Within One Year	150,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,175,750			$1,270,122
Fair Value of Long-Term Debt (c)		$1,276,452			$1,285,741

	2018			2017
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.10% Series due December 2020		$25,000			$25,000
3.9% Series due July 2023	100,000			100,000
4.0% Series due June 2026	85,000			85,000
4.51% Series due September 2033	60,000			—
5.0% Series due December 2052	30,000			30,000
5.50% Series due April 2066	110,000			110,000
Total mortgage bonds	410,000			350,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	65,666			76,707
Total securitization bonds	65,666			76,707
Other:
Payable to associated company due November 2035	16,346			18,423
Unamortized Premium and Discount – Net	(168		)	(206		)
Unamortized Debt Issuance Costs	(8,140		)	(8,054		)
Total Long-Term Debt	483,704			436,870
Less Amount Due Within One Year	1,979			2,077
Long-Term Debt Excluding Amount Due Within One Year		$481,725			$434,793
Fair Value of Long-Term Debt (c)		$491,569			$455,968

	2018			2017
	(In Thousands)
Entergy Texas
Mortgage Bonds:
7.125% Series due February 2019		$500,000			$500,000
2.55% Series due June 2021	125,000			125,000
4.1% Series due September 2021	75,000			75,000
3.45% Series due December 2027	150,000			150,000
5.15% Series due June 2045	250,000			250,000
5.625% Series due June 2064	135,000			135,000
Total mortgage bonds	1,235,000			1,235,000
Securitization Bonds:
3.65% Series Senior Secured, Series A due August 2019	—			30,769
5.93% Series Senior Secured, Series A due June 2022	81,237			110,431
4.38% Series Senior Secured, Series A due November 2023	203,613			218,600
Total securitization bonds	284,850			359,800
Other:
Unamortized Premium and Discount - Net	(992		)	(1,498		)
Unamortized Debt Issuance Costs	(9,145		)	(10,366		)
Other	4,022			4,214
Total Long-Term Debt	1,513,735			1,587,150
Less Amount Due Within One Year	500,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,013,735			$1,587,150
Fair Value of Long-Term Debt (c)		$1,528,828			$1,661,902

	2018			2017
	(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.	134,000			134,000
Total governmental bonds	134,000			134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.78% Series I due October 2018	—			85,000
3.42% Series J due April 2021	100,000			—
Credit Facility due September 2021, weighted avg rate 3.44%	113,900			50,000
Total variable interest entity notes payable and credit facility	213,900			135,000
Other:
Grand Gulf Lease Obligation (e)	34,352			34,356
Unamortized Premium and Discount – Net	(328		)	(415		)
Unamortized Debt Issuance Costs	(1,176		)	(1,455		)
Other	2			2
Total Long-Term Debt	630,750			551,488
Less Amount Due Within One Year	6			85,004
Long-Term Debt Excluding Amount Due Within One Year		$630,744			$466,484
Fair Value of Long-Term Debt (c)		$596,123			$529,119

(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 $34 million at System Energy and long-term DOE obligations of $187 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 15 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 mortgage bonds.

(e) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Entergy Arkansas		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
2019		$—		$—		$150,000		$—		$500,000		$—
2020		$—		$320,000		$—		$25,000		$—		$—
2021		$566,292		$360,600		$—		$—		$200,000		$213,900
2022		$—		$200,000		$—		$—		$81,237		$134,000
2023		$290,000		$401,910		$250,000		$100,000		$203,613		$250,000

Entergy Texas Debt Issuance

In January 2019, Entergy Texas issued $300 million of 4.00% Series first mortgage bonds due March 2029 and $400 million of 4.50% Series first mortgage bonds due March 2039. Entergy Texas used the proceeds to repay at maturity its $500 million of 7.125% Series first mortgage bonds due February 2019 and for general corporate purposes.

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%.  Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next two years in the amount of $14.4 million for 2019 and $7.3 million for 2020. 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 canceled 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%.  Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next three years in the amounts of $22.7 million for 2019, $23.2 million for 2020, and $11 million for 2021.  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 New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.2 million for 2019, $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, and $12.5 million for 2023. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans 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 New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm 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 (a)	114,400
Total senior secured transition bonds		$329,500

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $81.2 million.

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 three years in the amounts of $30.9 million for 2019, $32.8 million for 2020, and $17.5 million for 2021. All of the scheduled principal payments for 2019-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 (a)	218,600
Total senior secured transition bonds		$545,900

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $203.6 million.

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 four years in the amount of $47.6 million for 2019, $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2018 and 2017 consisted of:

Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2018	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2018	2017	2018			2017
				(In Thousands)
Mortgage Bonds
2018-2022	3.86%	2.55%-7.125%	2.55%-7.125%		$1,875,000			$2,550,000
2023-2027	3.71%	2.40%-5.59%	2.40%-5.59%	4,735,000			4,735,000
2028-2038	3.63%	2.85%-4.52%	2.85%-3.25%	2,240,000			1,125,000
2044-2066	4.88%	4.20%-5.625%	4.70%-5.625%	3,560,000			2,960,000
Governmental Bonds (a)
2021-2022	5.28%	2.375%-5.875%	2.375%-5.875%	179,000			179,000
2028-2030	3.45%	3.375%-3.50%	3.375%-3.50%	198,680			198,680
Securitization Bonds
2019-2027	3.79%	2.04%-5.93%	2.04%-5.93%	429,118			551,499
Variable Interest Entities Notes Payable (Note 4)
2018-2023	3.44%	3.17%-3.92%	3.17%-3.92%	360,000			345,000
Entergy Corporation Notes
due September 2020	n/a	5.125%	5.125%	450,000			450,000
due July 2022	n/a	4.00%	4.00%	650,000			650,000
due September 2026	n/a	2.95%	2.95%	750,000			750,000
5 Year Credit Facility (Note 4)	n/a	3.60%	2.55%	220,000			210,000
Vermont Yankee Credit Facility (Note 4)	n/a	3.50%	2.64%	139,000			103,500
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	3.48%	2.87%	59,600			24,900
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	3.44%	2.38%	38,600			65,650
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	3.35%	2.64%	82,000			36,360
System Energy VIE Credit Facility (Note 4)	n/a	3.44%	2.52%	113,900			50,000
Long-term DOE Obligation (b)	—	—	—	186,864			183,435
Grand Gulf Lease Obligation (c)	n/a	(d)	(d)	34,352			34,356
Unamortized Premium and Discount - Net				(14,784		)	(13,911		)
Unamortized Debt Issuance Costs				(130,612		)	(126,033		)
Other				12,594			12,830
Total Long-Term Debt				16,168,312			15,075,266
Less Amount Due Within One Year				650,009			760,007
Long-Term Debt Excluding Amount Due Within One Year					$15,518,303			$14,315,259
Fair Value of Long-Term Debt (c)					$15,880,239			$15,367,453

(a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage 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 $34 million at System Energy and long-term DOE obligations of $187 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 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades.

(d) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Amount
	(In Thousands)
2019		$650,000
2020		$934,000
2021		$1,340,792
2022		$1,065,237
2023		$1,715,523

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020.  Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2019. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020.

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 a supplement 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, 2018 and 2017 consisted of:

	2018			2017
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
3.75% Series due February 2021		$350,000			$350,000
3.05% Series due June 2023	250,000			250,000
3.7% Series due June 2024	375,000			375,000
3.5% Series due April 2026	600,000			600,000
4.0% Series due June 2028	250,000			—
4.95% Series due December 2044	250,000			250,000
4.90% Series due December 2052	200,000			200,000
4.75% Series due June 2063	125,000			125,000
4.875% Series due September 2066	410,000			410,000
Total mortgage bonds	2,810,000			2,560,000
Governmental Bonds (a):
2.375% Series due 2021, Independence County (d)	45,000			45,000
Total governmental bonds	45,000			45,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.65% Series L due July 2021	90,000			90,000
3.17% Series M due December 2023	40,000			40,000
Credit Facility due September 2021, weighted avg rate 3.48%	59,600			24,900
Total variable interest entity notes payable and credit facility	189,600			154,900
Securitization Bonds:
2.30% Series Senior Secured due August 2021	21,692			35,764
Total securitization bonds	21,692			35,764
Other:
Long-term DOE Obligation (b)	186,864			183,435
Unamortized Premium and Discount – Net	4,408			5,307
Unamortized Debt Issuance Costs	(33,831		)	(34,049		)
Other	2,026			2,042
Total Long-Term Debt	3,225,759			2,952,399
Less Amount Due Within One Year	—			—
Long-Term Debt Excluding Amount Due Within One Year		$3,225,759			$2,952,399
Fair Value of Long-Term Debt (c)		$3,002,627			$2,865,844

	2018			2017
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
6.0% Series due May 2018		$—			$375,000
6.50% Series due September 2018	—			300,000
3.95% Series due October 2020	250,000			250,000
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			325,000
5.59% Series due October 2024	300,000			300,000
5.40% Series due November 2024	400,000			400,000
3.78% Series due April 2025	110,000			110,000
3.78% Series due April 2025	190,000			190,000
4.44% Series due January 2026	250,000			250,000
2.40% Series due October 2026	400,000			400,000
3.12% Series due September 2027	450,000			450,000
3.25% Series due April 2028	425,000			425,000
3.05% Series due June 2031	325,000			325,000
4.0% Series due March 2033	750,000			—
5.0% Series due July 2044	170,000			170,000
4.95% Series due January 2045	450,000			450,000
4.20% Series due September 2048	600,000			—
5.25% Series due July 2052	200,000			200,000
4.70% Series due June 2063	100,000			100,000
4.875% Series due September 2066	270,000			270,000
Total mortgage bonds	6,365,000			5,690,000
Governmental Bonds (a):
3.375 % Series due 2028, Louisiana Public Facilities Authority (d)	83,680			83,680
3.50% Series due 2030, Louisiana Public Facilities Authority (d)	115,000			115,000
Total governmental bonds	198,680			198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):
3.38% Series R due August 2020	70,000			70,000
3.92% Series H due February 2021	40,000			40,000
3.22% Series I due December 2023	20,000			20,000
Credit Facility due September 2021, weighted avg rate 3.44%	38,600			65,650
Credit Facility due September 2021, weighted avg rate 3.35%	82,000			36,360
Total variable interest entity notes payable and credit facilities	250,600			232,010
Securitization Bonds:
2.04% Series Senior Secured due September 2023	56,910			79,228
Total securitization bonds	56,910			79,228
Other:
Unamortized Premium and Discount - Net	(14,955		)	(13,877		)
Unamortized Debt Issuance Costs	(57,011		)	(48,540		)
Other	6,544			6,570
Total Long-Term Debt	6,805,768			6,144,071
Less Amount Due Within One Year	2			675,002
Long-Term Debt Excluding Amount Due Within One Year		$6,805,766			$5,469,069
Fair Value of Long-Term Debt (c)		$6,834,134			$6,389,774

	2018			2017
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
6.64% Series due July 2019		$150,000			$150,000
3.1% Series due July 2023	250,000			250,000
3.75% Series due July 2024	100,000			100,000
3.25% Series due December 2027	150,000			150,000
2.85% Series due June 2028	375,000			375,000
4.52% Series due December 2038	55,000			—
4.90% Series due October 2066	260,000			260,000
Total mortgage bonds	1,340,000			1,285,000
Other:
Unamortized Premium and Discount – Net	(989		)	(1,155		)
Unamortized Debt Issuance Costs	(13,261		)	(13,723		)
Total Long-Term Debt	1,325,750			1,270,122
Less Amount Due Within One Year	150,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,175,750			$1,270,122
Fair Value of Long-Term Debt (c)		$1,276,452			$1,285,741

	2018			2017
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
5.10% Series due December 2020		$25,000			$25,000
3.9% Series due July 2023	100,000			100,000
4.0% Series due June 2026	85,000			85,000
4.51% Series due September 2033	60,000			—
5.0% Series due December 2052	30,000			30,000
5.50% Series due April 2066	110,000			110,000
Total mortgage bonds	410,000			350,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	65,666			76,707
Total securitization bonds	65,666			76,707
Other:
Payable to associated company due November 2035	16,346			18,423
Unamortized Premium and Discount – Net	(168		)	(206		)
Unamortized Debt Issuance Costs	(8,140		)	(8,054		)
Total Long-Term Debt	483,704			436,870
Less Amount Due Within One Year	1,979			2,077
Long-Term Debt Excluding Amount Due Within One Year		$481,725			$434,793
Fair Value of Long-Term Debt (c)		$491,569			$455,968

	2018			2017
	(In Thousands)
Entergy Texas
Mortgage Bonds:
7.125% Series due February 2019		$500,000			$500,000
2.55% Series due June 2021	125,000			125,000
4.1% Series due September 2021	75,000			75,000
3.45% Series due December 2027	150,000			150,000
5.15% Series due June 2045	250,000			250,000
5.625% Series due June 2064	135,000			135,000
Total mortgage bonds	1,235,000			1,235,000
Securitization Bonds:
3.65% Series Senior Secured, Series A due August 2019	—			30,769
5.93% Series Senior Secured, Series A due June 2022	81,237			110,431
4.38% Series Senior Secured, Series A due November 2023	203,613			218,600
Total securitization bonds	284,850			359,800
Other:
Unamortized Premium and Discount - Net	(992		)	(1,498		)
Unamortized Debt Issuance Costs	(9,145		)	(10,366		)
Other	4,022			4,214
Total Long-Term Debt	1,513,735			1,587,150
Less Amount Due Within One Year	500,000			—
Long-Term Debt Excluding Amount Due Within One Year		$1,013,735			$1,587,150
Fair Value of Long-Term Debt (c)		$1,528,828			$1,661,902

	2018			2017
	(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.	134,000			134,000
Total governmental bonds	134,000			134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):
3.78% Series I due October 2018	—			85,000
3.42% Series J due April 2021	100,000			—
Credit Facility due September 2021, weighted avg rate 3.44%	113,900			50,000
Total variable interest entity notes payable and credit facility	213,900			135,000
Other:
Grand Gulf Lease Obligation (e)	34,352			34,356
Unamortized Premium and Discount – Net	(328		)	(415		)
Unamortized Debt Issuance Costs	(1,176		)	(1,455		)
Other	2			2
Total Long-Term Debt	630,750			551,488
Less Amount Due Within One Year	6			85,004
Long-Term Debt Excluding Amount Due Within One Year		$630,744			$466,484
Fair Value of Long-Term Debt (c)		$596,123			$529,119

(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 $34 million at System Energy and long-term DOE obligations of $187 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 15 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 mortgage bonds.

(e) See Note 10 to the financial statements for detail of payments under the Grand Gulf lease obligation.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2018, for the next five years are as follows:

	Entergy Arkansas		Entergy Louisiana		Entergy Mississippi		Entergy New Orleans		Entergy Texas		System Energy
	(In Thousands)
2019		$—		$—		$150,000		$—		$500,000		$—
2020		$—		$320,000		$—		$25,000		$—		$—
2021		$566,292		$360,600		$—		$—		$200,000		$213,900
2022		$—		$200,000		$—		$—		$81,237		$134,000
2023		$290,000		$401,910		$250,000		$100,000		$203,613		$250,000

Entergy Texas Debt Issuance

In January 2019, Entergy Texas issued $300 million of 4.00% Series first mortgage bonds due March 2029 and $400 million of 4.50% Series first mortgage bonds due March 2039. Entergy Texas used the proceeds to repay at maturity its $500 million of 7.125% Series first mortgage bonds due February 2019 and for general corporate purposes.

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%.  Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next two years in the amount of $14.4 million for 2019 and $7.3 million for 2020. 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 canceled 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%.  Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next three years in the amounts of $22.7 million for 2019, $23.2 million for 2020, and $11 million for 2021.  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 New Orleans Securitization Bonds - Hurricane Isaac

In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million, including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million, and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67%. Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.2 million for 2019, $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, and $12.5 million for 2023. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans 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 New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm 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 (a)	114,400
Total senior secured transition bonds		$329,500

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $81.2 million.

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 three years in the amounts of $30.9 million for 2019, $32.8 million for 2020, and $17.5 million for 2021. All of the scheduled principal payments for 2019-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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 (a)	218,600
Total senior secured transition bonds		$545,900

(a)     As of December 31, 2018 the remaining amount outstanding on Tranche A-3 was $203.6 million.

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 four years in the amount of $47.6 million for 2019, $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid.

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.