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, 2022 and 2021 consisted of:


Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2022	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2022	2021	2022	2021
				(In Thousands)
Mortgage Bonds
2022-2026	2.98%	0.62% - 4.44%	0.62% - 5.59%	$6,058,000	$6,693,000
2027-2031	2.84%	1.60%- 4.19%	1.60% - 4.19%	3,515,000	3,515,000
2032-2041	3.56%	2.35% - 4.52%	2.35% - 4.52%	2,597,000	2,597,000
2044-2066	4.15%	2.65% - 5.50%	2.65% - 5.50%	8,005,000	6,980,000
Governmental Bonds (a)
2022-2044	2.43%	2.00% - 2.50%	2.00% - 2.5%	282,375	332,680
Securitization Bonds
2023-2036	3.57%	2.67% - 3.697%	2.67% - 4.38%	297,363	85,234
Variable Interest Entities Notes Payable (Note 4)
2023-2027	2.18%	1.84% - 3.22%	1.84% - 3.22%	310,000	310,000
Entergy Corporation Notes
due July 2022	n/a	—	4.00%	—	650,000
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy New Orleans Unsecured Term Loan due May 2023	n/a	2.5%	2.5%	70,000	70,000
Entergy Mississippi Unsecured Term Loan due December 2023	n/a	4.082%	—	150,000	—
System Energy Term Loan due November 2023	n/a	3.721%	—	50,000	—
5 Year Credit Facility (Note 4)	n/a	2.97%	1.60%	150,000	165,000
Entergy Louisiana Credit Facility (Note 4)	n/a	7.75%	1.32%	50,000	125,000

Vermont Yankee Credit Facility (Note 4)	n/a	3.19%	1.67%	139,000	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	2.62%	1.17%	—	4,800
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	2.17%	1.15%	13,100	42,700
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	2.74%	1.16%	60,800	39,600
System Energy VIE Credit Facility (Note 4)	n/a	2.77%	1.16%	72,600	36,100
Long-term DOE Obligation (b)	—	—	—	195,044	192,115
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,297	34,321
Unamortized Premium and Discount - Net				960	(8,273)
Unamortized Debt Issuance Costs				(173,464)	(177,904)
Other				5,474	5,528
Total Long-Term Debt				25,932,549	25,880,901
Less Amount Due Within One Year				2,309,037	1,039,329
Long-Term Debt Excluding Amount Due Within One Year				$23,623,512	$24,841,572
Fair Value of Long-Term Debt				$22,573,837	$27,061,171

(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.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


			Amount
			(In Thousands)
2023			$2,310,306
2024			$2,176,275
2025			$1,525,640
2026			$2,305,720
2027			$1,129,490

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2023. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2023. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2023.

Long-term debt for the Registrant Subsidiaries as of December 31, 2022 and 2021 consisted of:


	2022	2021
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
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
4.00% Series due June 2028	350,000	350,000
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	350,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	3,860,000	3,660,000




Variable Interest Entity Notes Payable and Credit Facility (Note 4):


3.17% Series M due December 2023	40,000	40,000
1.84% Series N due July 2026	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.62%	—	4,800
Total variable interest entity notes payable and credit facility	130,000	134,800



Other:
Long-term DOE Obligation (b)	195,044	192,115
Unamortized Premium and Discount – Net	12,513	2,776
Unamortized Debt Issuance Costs	(33,009)	(32,803)
Other	1,952	1,974
Total Long-Term Debt	4,166,500	3,958,862
Less Amount Due Within One Year	290,000	—
Long-Term Debt Excluding Amount Due Within One Year	$3,876,500	$3,958,862
Fair Value of Long-Term Debt	$3,538,930	$4,176,577


	2022	2021
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
3.3% Series due December 2022	$—	$200,000
4.05% Series due September 2023	325,000	325,000
0.62% Series due November 2023	665,000	1,100,000
5.59% Series due October 2024	300,000	300,000
0.95% Series due October 2024	1,000,000	1,000,000
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
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.0% Series due March 2033	750,000	750,000
3.10% Series due June 2041	500,000	500,000
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	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	10,355,000	10,490,000
Governmental Bonds (a):


2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):


3.22% Series I due December 2023	20,000	20,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2025, weighted avg rate 2.17%	13,100	42,700
Credit Facility due June 2025, weighted avg rate 2.74%	60,800	39,600
Total variable interest entity notes payable and credit facilities	163,900	172,300



Other:
Credit Facility due June 2027, weighted avg rate 7.75%	50,000	125,000
Unamortized Premium and Discount - Net	(8,482)	(7,523)
Unamortized Debt Issuance Costs	(63,698)	(67,665)
Other	3,522	3,554
Total Long-Term Debt	10,698,922	10,914,346
Less Amount Due Within One Year	1,010,000	200,000
Long-Term Debt Excluding Amount Due Within One Year	$9,688,922	$10,714,346
Fair Value of Long-Term Debt	$9,444,665	$11,492,650


	2022	2021
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.10% 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
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,195,000	2,195,000
Other:
Unsecured Term Loan due December 2023, weighted avg rate 4.082%	150,000	—
Unamortized Premium and Discount – Net	5,803	5,853
Unamortized Debt Issuance Costs	(19,707)	(20,864)

Total Long-Term Debt	2,331,096	2,179,989
Less Amount Due Within One Year	400,000	—
Long-Term Debt Excluding Amount Due Within One Year	$1,931,096	$2,179,989
Fair Value of Long-Term Debt	$1,987,154	$2,346,230


	2022	2021
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.9% Series due July 2023	$100,000	$100,000
3.0% Series due March 2025	78,000	78,000
4.0% Series due June 2026	85,000	85,000
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	685,000	685,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	18,770	30,977
Total securitization bonds	18,770	30,977
Other:

2.5% Unsecured Term Loan due May 2023	70,000	70,000
Payable to associated company due November 2035	9,585	10,911
Unamortized Premium and Discount – Net	(25)	(58)
Unamortized Debt Issuance Costs	(7,698)	(8,665)
Total Long-Term Debt	775,632	788,165
Less Amount Due Within One Year	171,306	1,326
Long-Term Debt Excluding Amount Due Within One Year	$604,326	$786,839
Fair Value of Long-Term Debt	$707,872	$765,538


	2022	2021
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.5% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	—
Total mortgage bonds	2,630,000	2,305,000
Securitization Bonds:



4.38% Series Senior Secured, Series A due November 2023	—	54,257
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	87,743	—
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	—
Total securitization bonds	278,593	54,257
Other:
Unamortized Premium and Discount - Net	11,528	13,556
Unamortized Debt Issuance Costs	(24,208)	(18,665)

Total Long-Term Debt	2,895,913	2,354,148
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$2,895,913	$2,354,148
Fair Value of Long-Term Debt	$2,485,705	$2,483,995


	2022	2021
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023	$250,000	$250,000
2.14% Series due December 2025	200,000	200,000
Total mortgage bonds	450,000	450,000
Governmental Bonds (a):
2.5% Series due April 2022, Mississippi Business Finance Corp.	—	50,305
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):



2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.77%	72,600	36,100
Total variable interest entity notes payable and credit facility	162,600	126,100
Other:
Term Loan due November 2023, weighted avg rate 3.721% (c)	50,000	—
Grand Gulf Sale-Leaseback Obligation	34,297	34,321
Unamortized Premium and Discount – Net	(50)	(108)
Unamortized Debt Issuance Costs	(2,637)	(3,017)

Total Long-Term Debt	777,905	741,296
Less Amount Due Within One Year	300,037	50,329
Long-Term Debt Excluding Amount Due Within One Year	$477,868	$690,967
Fair Value of Long-Term Debt	$702,473	$743,040

(a)Consists of pollution control revenue bonds.

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

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

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2023	$290,000	$1,010,000	$400,000	$171,306	$—	$300,000
2024	$375,000	$1,700,000	$100,000	$1,275	$—	$—
2025	$—	$373,900	$—	$79,140	$—	$272,600
2026	$690,000	$650,000	$—	$85,720	$130,000	$—
2027	$—	$570,000	$150,000	$19,490	$150,000	$90,000

Entergy Arkansas Debt Issuance

In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas expects to use the proceeds, together with other funds, to repay on or prior to maturity its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes.

Securitization Bonds

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 had an interest rate of 2.04%. Although the principal amount was not due until September 2023, Entergy Louisiana Investment Recovery Funding made principal payments on the bonds in the amount of $11 million in 2021, after which the bonds were fully repaid.

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 two years in the amounts of $12.5 million for 2023 and $6.2 million for 2024, after which the bonds will be fully repaid. 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). Although the principal amount was not due until June 2022, Entergy Gulf States Reconstruction Funding made principal payments on the bonds in the amount of $17.5 million in 2021, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

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

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

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


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

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next five years in the amounts of $17.8 million for 2023, $18.3 million for 2024, $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with a payment of $6.6 million.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to

the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

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

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues have included the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis. The amount was a net regulatory liability of $55.6 million as of December 31, 2021. In December 2022 the regulatory liability was derecognized as a result of a FERC order which determined that sale-leaseback rent payments during the renewal terms are not recoverable. See Note 2 to the financial statements for discussion of the December 2022 FERC order related to the Grand Gulf sale-leaseback renewal complaint.

As of December 31, 2022, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:


			Amount
			(In Thousands)

2023			$17,188
2024			17,188
2025			17,188
2026			17,188
2027			17,188
Years thereafter			154,688
Total			240,628
Less: Amount representing interest			206,330
Present value of net minimum lease payments			$34,298

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, 2022 and 2021 consisted of:


Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2022	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2022	2021	2022	2021
				(In Thousands)
Mortgage Bonds
2022-2026	2.98%	0.62% - 4.44%	0.62% - 5.59%	$6,058,000	$6,693,000
2027-2031	2.84%	1.60%- 4.19%	1.60% - 4.19%	3,515,000	3,515,000
2032-2041	3.56%	2.35% - 4.52%	2.35% - 4.52%	2,597,000	2,597,000
2044-2066	4.15%	2.65% - 5.50%	2.65% - 5.50%	8,005,000	6,980,000
Governmental Bonds (a)
2022-2044	2.43%	2.00% - 2.50%	2.00% - 2.5%	282,375	332,680
Securitization Bonds
2023-2036	3.57%	2.67% - 3.697%	2.67% - 4.38%	297,363	85,234
Variable Interest Entities Notes Payable (Note 4)
2023-2027	2.18%	1.84% - 3.22%	1.84% - 3.22%	310,000	310,000
Entergy Corporation Notes
due July 2022	n/a	—	4.00%	—	650,000
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy New Orleans Unsecured Term Loan due May 2023	n/a	2.5%	2.5%	70,000	70,000
Entergy Mississippi Unsecured Term Loan due December 2023	n/a	4.082%	—	150,000	—
System Energy Term Loan due November 2023	n/a	3.721%	—	50,000	—
5 Year Credit Facility (Note 4)	n/a	2.97%	1.60%	150,000	165,000
Entergy Louisiana Credit Facility (Note 4)	n/a	7.75%	1.32%	50,000	125,000

Vermont Yankee Credit Facility (Note 4)	n/a	3.19%	1.67%	139,000	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	2.62%	1.17%	—	4,800
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	2.17%	1.15%	13,100	42,700
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	2.74%	1.16%	60,800	39,600
System Energy VIE Credit Facility (Note 4)	n/a	2.77%	1.16%	72,600	36,100
Long-term DOE Obligation (b)	—	—	—	195,044	192,115
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,297	34,321
Unamortized Premium and Discount - Net				960	(8,273)
Unamortized Debt Issuance Costs				(173,464)	(177,904)
Other				5,474	5,528
Total Long-Term Debt				25,932,549	25,880,901
Less Amount Due Within One Year				2,309,037	1,039,329
Long-Term Debt Excluding Amount Due Within One Year				$23,623,512	$24,841,572
Fair Value of Long-Term Debt				$22,573,837	$27,061,171

(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.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


			Amount
			(In Thousands)
2023			$2,310,306
2024			$2,176,275
2025			$1,525,640
2026			$2,305,720
2027			$1,129,490

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2023. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2023. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2023.

Long-term debt for the Registrant Subsidiaries as of December 31, 2022 and 2021 consisted of:


	2022	2021
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
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
4.00% Series due June 2028	350,000	350,000
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	350,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	3,860,000	3,660,000




Variable Interest Entity Notes Payable and Credit Facility (Note 4):


3.17% Series M due December 2023	40,000	40,000
1.84% Series N due July 2026	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.62%	—	4,800
Total variable interest entity notes payable and credit facility	130,000	134,800



Other:
Long-term DOE Obligation (b)	195,044	192,115
Unamortized Premium and Discount – Net	12,513	2,776
Unamortized Debt Issuance Costs	(33,009)	(32,803)
Other	1,952	1,974
Total Long-Term Debt	4,166,500	3,958,862
Less Amount Due Within One Year	290,000	—
Long-Term Debt Excluding Amount Due Within One Year	$3,876,500	$3,958,862
Fair Value of Long-Term Debt	$3,538,930	$4,176,577


	2022	2021
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
3.3% Series due December 2022	$—	$200,000
4.05% Series due September 2023	325,000	325,000
0.62% Series due November 2023	665,000	1,100,000
5.59% Series due October 2024	300,000	300,000
0.95% Series due October 2024	1,000,000	1,000,000
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
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.0% Series due March 2033	750,000	750,000
3.10% Series due June 2041	500,000	500,000
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	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	10,355,000	10,490,000
Governmental Bonds (a):


2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):


3.22% Series I due December 2023	20,000	20,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2025, weighted avg rate 2.17%	13,100	42,700
Credit Facility due June 2025, weighted avg rate 2.74%	60,800	39,600
Total variable interest entity notes payable and credit facilities	163,900	172,300



Other:
Credit Facility due June 2027, weighted avg rate 7.75%	50,000	125,000
Unamortized Premium and Discount - Net	(8,482)	(7,523)
Unamortized Debt Issuance Costs	(63,698)	(67,665)
Other	3,522	3,554
Total Long-Term Debt	10,698,922	10,914,346
Less Amount Due Within One Year	1,010,000	200,000
Long-Term Debt Excluding Amount Due Within One Year	$9,688,922	$10,714,346
Fair Value of Long-Term Debt	$9,444,665	$11,492,650


	2022	2021
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.10% 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
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,195,000	2,195,000
Other:
Unsecured Term Loan due December 2023, weighted avg rate 4.082%	150,000	—
Unamortized Premium and Discount – Net	5,803	5,853
Unamortized Debt Issuance Costs	(19,707)	(20,864)

Total Long-Term Debt	2,331,096	2,179,989
Less Amount Due Within One Year	400,000	—
Long-Term Debt Excluding Amount Due Within One Year	$1,931,096	$2,179,989
Fair Value of Long-Term Debt	$1,987,154	$2,346,230


	2022	2021
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.9% Series due July 2023	$100,000	$100,000
3.0% Series due March 2025	78,000	78,000
4.0% Series due June 2026	85,000	85,000
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	685,000	685,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	18,770	30,977
Total securitization bonds	18,770	30,977
Other:

2.5% Unsecured Term Loan due May 2023	70,000	70,000
Payable to associated company due November 2035	9,585	10,911
Unamortized Premium and Discount – Net	(25)	(58)
Unamortized Debt Issuance Costs	(7,698)	(8,665)
Total Long-Term Debt	775,632	788,165
Less Amount Due Within One Year	171,306	1,326
Long-Term Debt Excluding Amount Due Within One Year	$604,326	$786,839
Fair Value of Long-Term Debt	$707,872	$765,538


	2022	2021
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.5% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	—
Total mortgage bonds	2,630,000	2,305,000
Securitization Bonds:



4.38% Series Senior Secured, Series A due November 2023	—	54,257
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	87,743	—
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	—
Total securitization bonds	278,593	54,257
Other:
Unamortized Premium and Discount - Net	11,528	13,556
Unamortized Debt Issuance Costs	(24,208)	(18,665)

Total Long-Term Debt	2,895,913	2,354,148
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$2,895,913	$2,354,148
Fair Value of Long-Term Debt	$2,485,705	$2,483,995


	2022	2021
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023	$250,000	$250,000
2.14% Series due December 2025	200,000	200,000
Total mortgage bonds	450,000	450,000
Governmental Bonds (a):
2.5% Series due April 2022, Mississippi Business Finance Corp.	—	50,305
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):



2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.77%	72,600	36,100
Total variable interest entity notes payable and credit facility	162,600	126,100
Other:
Term Loan due November 2023, weighted avg rate 3.721% (c)	50,000	—
Grand Gulf Sale-Leaseback Obligation	34,297	34,321
Unamortized Premium and Discount – Net	(50)	(108)
Unamortized Debt Issuance Costs	(2,637)	(3,017)

Total Long-Term Debt	777,905	741,296
Less Amount Due Within One Year	300,037	50,329
Long-Term Debt Excluding Amount Due Within One Year	$477,868	$690,967
Fair Value of Long-Term Debt	$702,473	$743,040

(a)Consists of pollution control revenue bonds.

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

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

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2023	$290,000	$1,010,000	$400,000	$171,306	$—	$300,000
2024	$375,000	$1,700,000	$100,000	$1,275	$—	$—
2025	$—	$373,900	$—	$79,140	$—	$272,600
2026	$690,000	$650,000	$—	$85,720	$130,000	$—
2027	$—	$570,000	$150,000	$19,490	$150,000	$90,000

Entergy Arkansas Debt Issuance

In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas expects to use the proceeds, together with other funds, to repay on or prior to maturity its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes.

Securitization Bonds

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 had an interest rate of 2.04%. Although the principal amount was not due until September 2023, Entergy Louisiana Investment Recovery Funding made principal payments on the bonds in the amount of $11 million in 2021, after which the bonds were fully repaid.

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 two years in the amounts of $12.5 million for 2023 and $6.2 million for 2024, after which the bonds will be fully repaid. 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). Although the principal amount was not due until June 2022, Entergy Gulf States Reconstruction Funding made principal payments on the bonds in the amount of $17.5 million in 2021, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

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

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

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


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

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next five years in the amounts of $17.8 million for 2023, $18.3 million for 2024, $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with a payment of $6.6 million.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to

the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

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

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues have included the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis. The amount was a net regulatory liability of $55.6 million as of December 31, 2021. In December 2022 the regulatory liability was derecognized as a result of a FERC order which determined that sale-leaseback rent payments during the renewal terms are not recoverable. See Note 2 to the financial statements for discussion of the December 2022 FERC order related to the Grand Gulf sale-leaseback renewal complaint.

As of December 31, 2022, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:


			Amount
			(In Thousands)

2023			$17,188
2024			17,188
2025			17,188
2026			17,188
2027			17,188
Years thereafter			154,688
Total			240,628
Less: Amount representing interest			206,330
Present value of net minimum lease payments			$34,298

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, 2022 and 2021 consisted of:


Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2022	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2022	2021	2022	2021
				(In Thousands)
Mortgage Bonds
2022-2026	2.98%	0.62% - 4.44%	0.62% - 5.59%	$6,058,000	$6,693,000
2027-2031	2.84%	1.60%- 4.19%	1.60% - 4.19%	3,515,000	3,515,000
2032-2041	3.56%	2.35% - 4.52%	2.35% - 4.52%	2,597,000	2,597,000
2044-2066	4.15%	2.65% - 5.50%	2.65% - 5.50%	8,005,000	6,980,000
Governmental Bonds (a)
2022-2044	2.43%	2.00% - 2.50%	2.00% - 2.5%	282,375	332,680
Securitization Bonds
2023-2036	3.57%	2.67% - 3.697%	2.67% - 4.38%	297,363	85,234
Variable Interest Entities Notes Payable (Note 4)
2023-2027	2.18%	1.84% - 3.22%	1.84% - 3.22%	310,000	310,000
Entergy Corporation Notes
due July 2022	n/a	—	4.00%	—	650,000
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy New Orleans Unsecured Term Loan due May 2023	n/a	2.5%	2.5%	70,000	70,000
Entergy Mississippi Unsecured Term Loan due December 2023	n/a	4.082%	—	150,000	—
System Energy Term Loan due November 2023	n/a	3.721%	—	50,000	—
5 Year Credit Facility (Note 4)	n/a	2.97%	1.60%	150,000	165,000
Entergy Louisiana Credit Facility (Note 4)	n/a	7.75%	1.32%	50,000	125,000

Vermont Yankee Credit Facility (Note 4)	n/a	3.19%	1.67%	139,000	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	2.62%	1.17%	—	4,800
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	2.17%	1.15%	13,100	42,700
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	2.74%	1.16%	60,800	39,600
System Energy VIE Credit Facility (Note 4)	n/a	2.77%	1.16%	72,600	36,100
Long-term DOE Obligation (b)	—	—	—	195,044	192,115
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,297	34,321
Unamortized Premium and Discount - Net				960	(8,273)
Unamortized Debt Issuance Costs				(173,464)	(177,904)
Other				5,474	5,528
Total Long-Term Debt				25,932,549	25,880,901
Less Amount Due Within One Year				2,309,037	1,039,329
Long-Term Debt Excluding Amount Due Within One Year				$23,623,512	$24,841,572
Fair Value of Long-Term Debt				$22,573,837	$27,061,171

(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.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


			Amount
			(In Thousands)
2023			$2,310,306
2024			$2,176,275
2025			$1,525,640
2026			$2,305,720
2027			$1,129,490

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2023. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2023. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2023.

Long-term debt for the Registrant Subsidiaries as of December 31, 2022 and 2021 consisted of:


	2022	2021
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
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
4.00% Series due June 2028	350,000	350,000
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	350,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	3,860,000	3,660,000




Variable Interest Entity Notes Payable and Credit Facility (Note 4):


3.17% Series M due December 2023	40,000	40,000
1.84% Series N due July 2026	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.62%	—	4,800
Total variable interest entity notes payable and credit facility	130,000	134,800



Other:
Long-term DOE Obligation (b)	195,044	192,115
Unamortized Premium and Discount – Net	12,513	2,776
Unamortized Debt Issuance Costs	(33,009)	(32,803)
Other	1,952	1,974
Total Long-Term Debt	4,166,500	3,958,862
Less Amount Due Within One Year	290,000	—
Long-Term Debt Excluding Amount Due Within One Year	$3,876,500	$3,958,862
Fair Value of Long-Term Debt	$3,538,930	$4,176,577


	2022	2021
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
3.3% Series due December 2022	$—	$200,000
4.05% Series due September 2023	325,000	325,000
0.62% Series due November 2023	665,000	1,100,000
5.59% Series due October 2024	300,000	300,000
0.95% Series due October 2024	1,000,000	1,000,000
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
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.0% Series due March 2033	750,000	750,000
3.10% Series due June 2041	500,000	500,000
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	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	10,355,000	10,490,000
Governmental Bonds (a):


2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):


3.22% Series I due December 2023	20,000	20,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2025, weighted avg rate 2.17%	13,100	42,700
Credit Facility due June 2025, weighted avg rate 2.74%	60,800	39,600
Total variable interest entity notes payable and credit facilities	163,900	172,300



Other:
Credit Facility due June 2027, weighted avg rate 7.75%	50,000	125,000
Unamortized Premium and Discount - Net	(8,482)	(7,523)
Unamortized Debt Issuance Costs	(63,698)	(67,665)
Other	3,522	3,554
Total Long-Term Debt	10,698,922	10,914,346
Less Amount Due Within One Year	1,010,000	200,000
Long-Term Debt Excluding Amount Due Within One Year	$9,688,922	$10,714,346
Fair Value of Long-Term Debt	$9,444,665	$11,492,650


	2022	2021
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.10% 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
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,195,000	2,195,000
Other:
Unsecured Term Loan due December 2023, weighted avg rate 4.082%	150,000	—
Unamortized Premium and Discount – Net	5,803	5,853
Unamortized Debt Issuance Costs	(19,707)	(20,864)

Total Long-Term Debt	2,331,096	2,179,989
Less Amount Due Within One Year	400,000	—
Long-Term Debt Excluding Amount Due Within One Year	$1,931,096	$2,179,989
Fair Value of Long-Term Debt	$1,987,154	$2,346,230


	2022	2021
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.9% Series due July 2023	$100,000	$100,000
3.0% Series due March 2025	78,000	78,000
4.0% Series due June 2026	85,000	85,000
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	685,000	685,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	18,770	30,977
Total securitization bonds	18,770	30,977
Other:

2.5% Unsecured Term Loan due May 2023	70,000	70,000
Payable to associated company due November 2035	9,585	10,911
Unamortized Premium and Discount – Net	(25)	(58)
Unamortized Debt Issuance Costs	(7,698)	(8,665)
Total Long-Term Debt	775,632	788,165
Less Amount Due Within One Year	171,306	1,326
Long-Term Debt Excluding Amount Due Within One Year	$604,326	$786,839
Fair Value of Long-Term Debt	$707,872	$765,538


	2022	2021
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.5% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	—
Total mortgage bonds	2,630,000	2,305,000
Securitization Bonds:



4.38% Series Senior Secured, Series A due November 2023	—	54,257
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	87,743	—
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	—
Total securitization bonds	278,593	54,257
Other:
Unamortized Premium and Discount - Net	11,528	13,556
Unamortized Debt Issuance Costs	(24,208)	(18,665)

Total Long-Term Debt	2,895,913	2,354,148
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$2,895,913	$2,354,148
Fair Value of Long-Term Debt	$2,485,705	$2,483,995


	2022	2021
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023	$250,000	$250,000
2.14% Series due December 2025	200,000	200,000
Total mortgage bonds	450,000	450,000
Governmental Bonds (a):
2.5% Series due April 2022, Mississippi Business Finance Corp.	—	50,305
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):



2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.77%	72,600	36,100
Total variable interest entity notes payable and credit facility	162,600	126,100
Other:
Term Loan due November 2023, weighted avg rate 3.721% (c)	50,000	—
Grand Gulf Sale-Leaseback Obligation	34,297	34,321
Unamortized Premium and Discount – Net	(50)	(108)
Unamortized Debt Issuance Costs	(2,637)	(3,017)

Total Long-Term Debt	777,905	741,296
Less Amount Due Within One Year	300,037	50,329
Long-Term Debt Excluding Amount Due Within One Year	$477,868	$690,967
Fair Value of Long-Term Debt	$702,473	$743,040

(a)Consists of pollution control revenue bonds.

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

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

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2023	$290,000	$1,010,000	$400,000	$171,306	$—	$300,000
2024	$375,000	$1,700,000	$100,000	$1,275	$—	$—
2025	$—	$373,900	$—	$79,140	$—	$272,600
2026	$690,000	$650,000	$—	$85,720	$130,000	$—
2027	$—	$570,000	$150,000	$19,490	$150,000	$90,000

Entergy Arkansas Debt Issuance

In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas expects to use the proceeds, together with other funds, to repay on or prior to maturity its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes.

Securitization Bonds

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 had an interest rate of 2.04%. Although the principal amount was not due until September 2023, Entergy Louisiana Investment Recovery Funding made principal payments on the bonds in the amount of $11 million in 2021, after which the bonds were fully repaid.

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 two years in the amounts of $12.5 million for 2023 and $6.2 million for 2024, after which the bonds will be fully repaid. 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). Although the principal amount was not due until June 2022, Entergy Gulf States Reconstruction Funding made principal payments on the bonds in the amount of $17.5 million in 2021, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

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

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

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


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

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next five years in the amounts of $17.8 million for 2023, $18.3 million for 2024, $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with a payment of $6.6 million.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to

the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

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

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues have included the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis. The amount was a net regulatory liability of $55.6 million as of December 31, 2021. In December 2022 the regulatory liability was derecognized as a result of a FERC order which determined that sale-leaseback rent payments during the renewal terms are not recoverable. See Note 2 to the financial statements for discussion of the December 2022 FERC order related to the Grand Gulf sale-leaseback renewal complaint.

As of December 31, 2022, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:


			Amount
			(In Thousands)

2023			$17,188
2024			17,188
2025			17,188
2026			17,188
2027			17,188
Years thereafter			154,688
Total			240,628
Less: Amount representing interest			206,330
Present value of net minimum lease payments			$34,298

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, 2022 and 2021 consisted of:


Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2022	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2022	2021	2022	2021
				(In Thousands)
Mortgage Bonds
2022-2026	2.98%	0.62% - 4.44%	0.62% - 5.59%	$6,058,000	$6,693,000
2027-2031	2.84%	1.60%- 4.19%	1.60% - 4.19%	3,515,000	3,515,000
2032-2041	3.56%	2.35% - 4.52%	2.35% - 4.52%	2,597,000	2,597,000
2044-2066	4.15%	2.65% - 5.50%	2.65% - 5.50%	8,005,000	6,980,000
Governmental Bonds (a)
2022-2044	2.43%	2.00% - 2.50%	2.00% - 2.5%	282,375	332,680
Securitization Bonds
2023-2036	3.57%	2.67% - 3.697%	2.67% - 4.38%	297,363	85,234
Variable Interest Entities Notes Payable (Note 4)
2023-2027	2.18%	1.84% - 3.22%	1.84% - 3.22%	310,000	310,000
Entergy Corporation Notes
due July 2022	n/a	—	4.00%	—	650,000
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy New Orleans Unsecured Term Loan due May 2023	n/a	2.5%	2.5%	70,000	70,000
Entergy Mississippi Unsecured Term Loan due December 2023	n/a	4.082%	—	150,000	—
System Energy Term Loan due November 2023	n/a	3.721%	—	50,000	—
5 Year Credit Facility (Note 4)	n/a	2.97%	1.60%	150,000	165,000
Entergy Louisiana Credit Facility (Note 4)	n/a	7.75%	1.32%	50,000	125,000

Vermont Yankee Credit Facility (Note 4)	n/a	3.19%	1.67%	139,000	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	2.62%	1.17%	—	4,800
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	2.17%	1.15%	13,100	42,700
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	2.74%	1.16%	60,800	39,600
System Energy VIE Credit Facility (Note 4)	n/a	2.77%	1.16%	72,600	36,100
Long-term DOE Obligation (b)	—	—	—	195,044	192,115
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,297	34,321
Unamortized Premium and Discount - Net				960	(8,273)
Unamortized Debt Issuance Costs				(173,464)	(177,904)
Other				5,474	5,528
Total Long-Term Debt				25,932,549	25,880,901
Less Amount Due Within One Year				2,309,037	1,039,329
Long-Term Debt Excluding Amount Due Within One Year				$23,623,512	$24,841,572
Fair Value of Long-Term Debt				$22,573,837	$27,061,171

(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.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


			Amount
			(In Thousands)
2023			$2,310,306
2024			$2,176,275
2025			$1,525,640
2026			$2,305,720
2027			$1,129,490

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2023. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2023. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2023.

Long-term debt for the Registrant Subsidiaries as of December 31, 2022 and 2021 consisted of:


	2022	2021
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
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
4.00% Series due June 2028	350,000	350,000
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	350,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	3,860,000	3,660,000




Variable Interest Entity Notes Payable and Credit Facility (Note 4):


3.17% Series M due December 2023	40,000	40,000
1.84% Series N due July 2026	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.62%	—	4,800
Total variable interest entity notes payable and credit facility	130,000	134,800



Other:
Long-term DOE Obligation (b)	195,044	192,115
Unamortized Premium and Discount – Net	12,513	2,776
Unamortized Debt Issuance Costs	(33,009)	(32,803)
Other	1,952	1,974
Total Long-Term Debt	4,166,500	3,958,862
Less Amount Due Within One Year	290,000	—
Long-Term Debt Excluding Amount Due Within One Year	$3,876,500	$3,958,862
Fair Value of Long-Term Debt	$3,538,930	$4,176,577


	2022	2021
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
3.3% Series due December 2022	$—	$200,000
4.05% Series due September 2023	325,000	325,000
0.62% Series due November 2023	665,000	1,100,000
5.59% Series due October 2024	300,000	300,000
0.95% Series due October 2024	1,000,000	1,000,000
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
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.0% Series due March 2033	750,000	750,000
3.10% Series due June 2041	500,000	500,000
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	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	10,355,000	10,490,000
Governmental Bonds (a):


2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):


3.22% Series I due December 2023	20,000	20,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2025, weighted avg rate 2.17%	13,100	42,700
Credit Facility due June 2025, weighted avg rate 2.74%	60,800	39,600
Total variable interest entity notes payable and credit facilities	163,900	172,300



Other:
Credit Facility due June 2027, weighted avg rate 7.75%	50,000	125,000
Unamortized Premium and Discount - Net	(8,482)	(7,523)
Unamortized Debt Issuance Costs	(63,698)	(67,665)
Other	3,522	3,554
Total Long-Term Debt	10,698,922	10,914,346
Less Amount Due Within One Year	1,010,000	200,000
Long-Term Debt Excluding Amount Due Within One Year	$9,688,922	$10,714,346
Fair Value of Long-Term Debt	$9,444,665	$11,492,650


	2022	2021
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.10% 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
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,195,000	2,195,000
Other:
Unsecured Term Loan due December 2023, weighted avg rate 4.082%	150,000	—
Unamortized Premium and Discount – Net	5,803	5,853
Unamortized Debt Issuance Costs	(19,707)	(20,864)

Total Long-Term Debt	2,331,096	2,179,989
Less Amount Due Within One Year	400,000	—
Long-Term Debt Excluding Amount Due Within One Year	$1,931,096	$2,179,989
Fair Value of Long-Term Debt	$1,987,154	$2,346,230


	2022	2021
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.9% Series due July 2023	$100,000	$100,000
3.0% Series due March 2025	78,000	78,000
4.0% Series due June 2026	85,000	85,000
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	685,000	685,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	18,770	30,977
Total securitization bonds	18,770	30,977
Other:

2.5% Unsecured Term Loan due May 2023	70,000	70,000
Payable to associated company due November 2035	9,585	10,911
Unamortized Premium and Discount – Net	(25)	(58)
Unamortized Debt Issuance Costs	(7,698)	(8,665)
Total Long-Term Debt	775,632	788,165
Less Amount Due Within One Year	171,306	1,326
Long-Term Debt Excluding Amount Due Within One Year	$604,326	$786,839
Fair Value of Long-Term Debt	$707,872	$765,538


	2022	2021
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.5% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	—
Total mortgage bonds	2,630,000	2,305,000
Securitization Bonds:



4.38% Series Senior Secured, Series A due November 2023	—	54,257
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	87,743	—
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	—
Total securitization bonds	278,593	54,257
Other:
Unamortized Premium and Discount - Net	11,528	13,556
Unamortized Debt Issuance Costs	(24,208)	(18,665)

Total Long-Term Debt	2,895,913	2,354,148
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$2,895,913	$2,354,148
Fair Value of Long-Term Debt	$2,485,705	$2,483,995


	2022	2021
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023	$250,000	$250,000
2.14% Series due December 2025	200,000	200,000
Total mortgage bonds	450,000	450,000
Governmental Bonds (a):
2.5% Series due April 2022, Mississippi Business Finance Corp.	—	50,305
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):



2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.77%	72,600	36,100
Total variable interest entity notes payable and credit facility	162,600	126,100
Other:
Term Loan due November 2023, weighted avg rate 3.721% (c)	50,000	—
Grand Gulf Sale-Leaseback Obligation	34,297	34,321
Unamortized Premium and Discount – Net	(50)	(108)
Unamortized Debt Issuance Costs	(2,637)	(3,017)

Total Long-Term Debt	777,905	741,296
Less Amount Due Within One Year	300,037	50,329
Long-Term Debt Excluding Amount Due Within One Year	$477,868	$690,967
Fair Value of Long-Term Debt	$702,473	$743,040

(a)Consists of pollution control revenue bonds.

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

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

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2023	$290,000	$1,010,000	$400,000	$171,306	$—	$300,000
2024	$375,000	$1,700,000	$100,000	$1,275	$—	$—
2025	$—	$373,900	$—	$79,140	$—	$272,600
2026	$690,000	$650,000	$—	$85,720	$130,000	$—
2027	$—	$570,000	$150,000	$19,490	$150,000	$90,000

Entergy Arkansas Debt Issuance

In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas expects to use the proceeds, together with other funds, to repay on or prior to maturity its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes.

Securitization Bonds

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 had an interest rate of 2.04%. Although the principal amount was not due until September 2023, Entergy Louisiana Investment Recovery Funding made principal payments on the bonds in the amount of $11 million in 2021, after which the bonds were fully repaid.

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 two years in the amounts of $12.5 million for 2023 and $6.2 million for 2024, after which the bonds will be fully repaid. 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). Although the principal amount was not due until June 2022, Entergy Gulf States Reconstruction Funding made principal payments on the bonds in the amount of $17.5 million in 2021, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

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

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

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


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

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next five years in the amounts of $17.8 million for 2023, $18.3 million for 2024, $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with a payment of $6.6 million.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to

the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

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

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues have included the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis. The amount was a net regulatory liability of $55.6 million as of December 31, 2021. In December 2022 the regulatory liability was derecognized as a result of a FERC order which determined that sale-leaseback rent payments during the renewal terms are not recoverable. See Note 2 to the financial statements for discussion of the December 2022 FERC order related to the Grand Gulf sale-leaseback renewal complaint.

As of December 31, 2022, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:


			Amount
			(In Thousands)

2023			$17,188
2024			17,188
2025			17,188
2026			17,188
2027			17,188
Years thereafter			154,688
Total			240,628
Less: Amount representing interest			206,330
Present value of net minimum lease payments			$34,298

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, 2022 and 2021 consisted of:


Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2022	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2022	2021	2022	2021
				(In Thousands)
Mortgage Bonds
2022-2026	2.98%	0.62% - 4.44%	0.62% - 5.59%	$6,058,000	$6,693,000
2027-2031	2.84%	1.60%- 4.19%	1.60% - 4.19%	3,515,000	3,515,000
2032-2041	3.56%	2.35% - 4.52%	2.35% - 4.52%	2,597,000	2,597,000
2044-2066	4.15%	2.65% - 5.50%	2.65% - 5.50%	8,005,000	6,980,000
Governmental Bonds (a)
2022-2044	2.43%	2.00% - 2.50%	2.00% - 2.5%	282,375	332,680
Securitization Bonds
2023-2036	3.57%	2.67% - 3.697%	2.67% - 4.38%	297,363	85,234
Variable Interest Entities Notes Payable (Note 4)
2023-2027	2.18%	1.84% - 3.22%	1.84% - 3.22%	310,000	310,000
Entergy Corporation Notes
due July 2022	n/a	—	4.00%	—	650,000
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy New Orleans Unsecured Term Loan due May 2023	n/a	2.5%	2.5%	70,000	70,000
Entergy Mississippi Unsecured Term Loan due December 2023	n/a	4.082%	—	150,000	—
System Energy Term Loan due November 2023	n/a	3.721%	—	50,000	—
5 Year Credit Facility (Note 4)	n/a	2.97%	1.60%	150,000	165,000
Entergy Louisiana Credit Facility (Note 4)	n/a	7.75%	1.32%	50,000	125,000

Vermont Yankee Credit Facility (Note 4)	n/a	3.19%	1.67%	139,000	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	2.62%	1.17%	—	4,800
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	2.17%	1.15%	13,100	42,700
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	2.74%	1.16%	60,800	39,600
System Energy VIE Credit Facility (Note 4)	n/a	2.77%	1.16%	72,600	36,100
Long-term DOE Obligation (b)	—	—	—	195,044	192,115
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,297	34,321
Unamortized Premium and Discount - Net				960	(8,273)
Unamortized Debt Issuance Costs				(173,464)	(177,904)
Other				5,474	5,528
Total Long-Term Debt				25,932,549	25,880,901
Less Amount Due Within One Year				2,309,037	1,039,329
Long-Term Debt Excluding Amount Due Within One Year				$23,623,512	$24,841,572
Fair Value of Long-Term Debt				$22,573,837	$27,061,171

(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.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


			Amount
			(In Thousands)
2023			$2,310,306
2024			$2,176,275
2025			$1,525,640
2026			$2,305,720
2027			$1,129,490

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2023. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2023. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2023.

Long-term debt for the Registrant Subsidiaries as of December 31, 2022 and 2021 consisted of:


	2022	2021
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
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
4.00% Series due June 2028	350,000	350,000
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	350,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	3,860,000	3,660,000




Variable Interest Entity Notes Payable and Credit Facility (Note 4):


3.17% Series M due December 2023	40,000	40,000
1.84% Series N due July 2026	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.62%	—	4,800
Total variable interest entity notes payable and credit facility	130,000	134,800



Other:
Long-term DOE Obligation (b)	195,044	192,115
Unamortized Premium and Discount – Net	12,513	2,776
Unamortized Debt Issuance Costs	(33,009)	(32,803)
Other	1,952	1,974
Total Long-Term Debt	4,166,500	3,958,862
Less Amount Due Within One Year	290,000	—
Long-Term Debt Excluding Amount Due Within One Year	$3,876,500	$3,958,862
Fair Value of Long-Term Debt	$3,538,930	$4,176,577


	2022	2021
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
3.3% Series due December 2022	$—	$200,000
4.05% Series due September 2023	325,000	325,000
0.62% Series due November 2023	665,000	1,100,000
5.59% Series due October 2024	300,000	300,000
0.95% Series due October 2024	1,000,000	1,000,000
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
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.0% Series due March 2033	750,000	750,000
3.10% Series due June 2041	500,000	500,000
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	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	10,355,000	10,490,000
Governmental Bonds (a):


2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):


3.22% Series I due December 2023	20,000	20,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2025, weighted avg rate 2.17%	13,100	42,700
Credit Facility due June 2025, weighted avg rate 2.74%	60,800	39,600
Total variable interest entity notes payable and credit facilities	163,900	172,300



Other:
Credit Facility due June 2027, weighted avg rate 7.75%	50,000	125,000
Unamortized Premium and Discount - Net	(8,482)	(7,523)
Unamortized Debt Issuance Costs	(63,698)	(67,665)
Other	3,522	3,554
Total Long-Term Debt	10,698,922	10,914,346
Less Amount Due Within One Year	1,010,000	200,000
Long-Term Debt Excluding Amount Due Within One Year	$9,688,922	$10,714,346
Fair Value of Long-Term Debt	$9,444,665	$11,492,650


	2022	2021
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.10% 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
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,195,000	2,195,000
Other:
Unsecured Term Loan due December 2023, weighted avg rate 4.082%	150,000	—
Unamortized Premium and Discount – Net	5,803	5,853
Unamortized Debt Issuance Costs	(19,707)	(20,864)

Total Long-Term Debt	2,331,096	2,179,989
Less Amount Due Within One Year	400,000	—
Long-Term Debt Excluding Amount Due Within One Year	$1,931,096	$2,179,989
Fair Value of Long-Term Debt	$1,987,154	$2,346,230


	2022	2021
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.9% Series due July 2023	$100,000	$100,000
3.0% Series due March 2025	78,000	78,000
4.0% Series due June 2026	85,000	85,000
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	685,000	685,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	18,770	30,977
Total securitization bonds	18,770	30,977
Other:

2.5% Unsecured Term Loan due May 2023	70,000	70,000
Payable to associated company due November 2035	9,585	10,911
Unamortized Premium and Discount – Net	(25)	(58)
Unamortized Debt Issuance Costs	(7,698)	(8,665)
Total Long-Term Debt	775,632	788,165
Less Amount Due Within One Year	171,306	1,326
Long-Term Debt Excluding Amount Due Within One Year	$604,326	$786,839
Fair Value of Long-Term Debt	$707,872	$765,538


	2022	2021
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.5% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	—
Total mortgage bonds	2,630,000	2,305,000
Securitization Bonds:



4.38% Series Senior Secured, Series A due November 2023	—	54,257
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	87,743	—
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	—
Total securitization bonds	278,593	54,257
Other:
Unamortized Premium and Discount - Net	11,528	13,556
Unamortized Debt Issuance Costs	(24,208)	(18,665)

Total Long-Term Debt	2,895,913	2,354,148
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$2,895,913	$2,354,148
Fair Value of Long-Term Debt	$2,485,705	$2,483,995


	2022	2021
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023	$250,000	$250,000
2.14% Series due December 2025	200,000	200,000
Total mortgage bonds	450,000	450,000
Governmental Bonds (a):
2.5% Series due April 2022, Mississippi Business Finance Corp.	—	50,305
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):



2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.77%	72,600	36,100
Total variable interest entity notes payable and credit facility	162,600	126,100
Other:
Term Loan due November 2023, weighted avg rate 3.721% (c)	50,000	—
Grand Gulf Sale-Leaseback Obligation	34,297	34,321
Unamortized Premium and Discount – Net	(50)	(108)
Unamortized Debt Issuance Costs	(2,637)	(3,017)

Total Long-Term Debt	777,905	741,296
Less Amount Due Within One Year	300,037	50,329
Long-Term Debt Excluding Amount Due Within One Year	$477,868	$690,967
Fair Value of Long-Term Debt	$702,473	$743,040

(a)Consists of pollution control revenue bonds.

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

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

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2023	$290,000	$1,010,000	$400,000	$171,306	$—	$300,000
2024	$375,000	$1,700,000	$100,000	$1,275	$—	$—
2025	$—	$373,900	$—	$79,140	$—	$272,600
2026	$690,000	$650,000	$—	$85,720	$130,000	$—
2027	$—	$570,000	$150,000	$19,490	$150,000	$90,000

Entergy Arkansas Debt Issuance

In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas expects to use the proceeds, together with other funds, to repay on or prior to maturity its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes.

Securitization Bonds

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 had an interest rate of 2.04%. Although the principal amount was not due until September 2023, Entergy Louisiana Investment Recovery Funding made principal payments on the bonds in the amount of $11 million in 2021, after which the bonds were fully repaid.

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 two years in the amounts of $12.5 million for 2023 and $6.2 million for 2024, after which the bonds will be fully repaid. 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). Although the principal amount was not due until June 2022, Entergy Gulf States Reconstruction Funding made principal payments on the bonds in the amount of $17.5 million in 2021, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

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

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

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


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

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next five years in the amounts of $17.8 million for 2023, $18.3 million for 2024, $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with a payment of $6.6 million.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to

the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

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

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues have included the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis. The amount was a net regulatory liability of $55.6 million as of December 31, 2021. In December 2022 the regulatory liability was derecognized as a result of a FERC order which determined that sale-leaseback rent payments during the renewal terms are not recoverable. See Note 2 to the financial statements for discussion of the December 2022 FERC order related to the Grand Gulf sale-leaseback renewal complaint.

As of December 31, 2022, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:


			Amount
			(In Thousands)

2023			$17,188
2024			17,188
2025			17,188
2026			17,188
2027			17,188
Years thereafter			154,688
Total			240,628
Less: Amount representing interest			206,330
Present value of net minimum lease payments			$34,298

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, 2022 and 2021 consisted of:


Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2022	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2022	2021	2022	2021
				(In Thousands)
Mortgage Bonds
2022-2026	2.98%	0.62% - 4.44%	0.62% - 5.59%	$6,058,000	$6,693,000
2027-2031	2.84%	1.60%- 4.19%	1.60% - 4.19%	3,515,000	3,515,000
2032-2041	3.56%	2.35% - 4.52%	2.35% - 4.52%	2,597,000	2,597,000
2044-2066	4.15%	2.65% - 5.50%	2.65% - 5.50%	8,005,000	6,980,000
Governmental Bonds (a)
2022-2044	2.43%	2.00% - 2.50%	2.00% - 2.5%	282,375	332,680
Securitization Bonds
2023-2036	3.57%	2.67% - 3.697%	2.67% - 4.38%	297,363	85,234
Variable Interest Entities Notes Payable (Note 4)
2023-2027	2.18%	1.84% - 3.22%	1.84% - 3.22%	310,000	310,000
Entergy Corporation Notes
due July 2022	n/a	—	4.00%	—	650,000
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy New Orleans Unsecured Term Loan due May 2023	n/a	2.5%	2.5%	70,000	70,000
Entergy Mississippi Unsecured Term Loan due December 2023	n/a	4.082%	—	150,000	—
System Energy Term Loan due November 2023	n/a	3.721%	—	50,000	—
5 Year Credit Facility (Note 4)	n/a	2.97%	1.60%	150,000	165,000
Entergy Louisiana Credit Facility (Note 4)	n/a	7.75%	1.32%	50,000	125,000

Vermont Yankee Credit Facility (Note 4)	n/a	3.19%	1.67%	139,000	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	2.62%	1.17%	—	4,800
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	2.17%	1.15%	13,100	42,700
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	2.74%	1.16%	60,800	39,600
System Energy VIE Credit Facility (Note 4)	n/a	2.77%	1.16%	72,600	36,100
Long-term DOE Obligation (b)	—	—	—	195,044	192,115
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,297	34,321
Unamortized Premium and Discount - Net				960	(8,273)
Unamortized Debt Issuance Costs				(173,464)	(177,904)
Other				5,474	5,528
Total Long-Term Debt				25,932,549	25,880,901
Less Amount Due Within One Year				2,309,037	1,039,329
Long-Term Debt Excluding Amount Due Within One Year				$23,623,512	$24,841,572
Fair Value of Long-Term Debt				$22,573,837	$27,061,171

(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.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


			Amount
			(In Thousands)
2023			$2,310,306
2024			$2,176,275
2025			$1,525,640
2026			$2,305,720
2027			$1,129,490

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2023. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2023. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2023.

Long-term debt for the Registrant Subsidiaries as of December 31, 2022 and 2021 consisted of:


	2022	2021
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
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
4.00% Series due June 2028	350,000	350,000
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	350,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	3,860,000	3,660,000




Variable Interest Entity Notes Payable and Credit Facility (Note 4):


3.17% Series M due December 2023	40,000	40,000
1.84% Series N due July 2026	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.62%	—	4,800
Total variable interest entity notes payable and credit facility	130,000	134,800



Other:
Long-term DOE Obligation (b)	195,044	192,115
Unamortized Premium and Discount – Net	12,513	2,776
Unamortized Debt Issuance Costs	(33,009)	(32,803)
Other	1,952	1,974
Total Long-Term Debt	4,166,500	3,958,862
Less Amount Due Within One Year	290,000	—
Long-Term Debt Excluding Amount Due Within One Year	$3,876,500	$3,958,862
Fair Value of Long-Term Debt	$3,538,930	$4,176,577


	2022	2021
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
3.3% Series due December 2022	$—	$200,000
4.05% Series due September 2023	325,000	325,000
0.62% Series due November 2023	665,000	1,100,000
5.59% Series due October 2024	300,000	300,000
0.95% Series due October 2024	1,000,000	1,000,000
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
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.0% Series due March 2033	750,000	750,000
3.10% Series due June 2041	500,000	500,000
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	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	10,355,000	10,490,000
Governmental Bonds (a):


2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):


3.22% Series I due December 2023	20,000	20,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2025, weighted avg rate 2.17%	13,100	42,700
Credit Facility due June 2025, weighted avg rate 2.74%	60,800	39,600
Total variable interest entity notes payable and credit facilities	163,900	172,300



Other:
Credit Facility due June 2027, weighted avg rate 7.75%	50,000	125,000
Unamortized Premium and Discount - Net	(8,482)	(7,523)
Unamortized Debt Issuance Costs	(63,698)	(67,665)
Other	3,522	3,554
Total Long-Term Debt	10,698,922	10,914,346
Less Amount Due Within One Year	1,010,000	200,000
Long-Term Debt Excluding Amount Due Within One Year	$9,688,922	$10,714,346
Fair Value of Long-Term Debt	$9,444,665	$11,492,650


	2022	2021
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.10% 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
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,195,000	2,195,000
Other:
Unsecured Term Loan due December 2023, weighted avg rate 4.082%	150,000	—
Unamortized Premium and Discount – Net	5,803	5,853
Unamortized Debt Issuance Costs	(19,707)	(20,864)

Total Long-Term Debt	2,331,096	2,179,989
Less Amount Due Within One Year	400,000	—
Long-Term Debt Excluding Amount Due Within One Year	$1,931,096	$2,179,989
Fair Value of Long-Term Debt	$1,987,154	$2,346,230


	2022	2021
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.9% Series due July 2023	$100,000	$100,000
3.0% Series due March 2025	78,000	78,000
4.0% Series due June 2026	85,000	85,000
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	685,000	685,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	18,770	30,977
Total securitization bonds	18,770	30,977
Other:

2.5% Unsecured Term Loan due May 2023	70,000	70,000
Payable to associated company due November 2035	9,585	10,911
Unamortized Premium and Discount – Net	(25)	(58)
Unamortized Debt Issuance Costs	(7,698)	(8,665)
Total Long-Term Debt	775,632	788,165
Less Amount Due Within One Year	171,306	1,326
Long-Term Debt Excluding Amount Due Within One Year	$604,326	$786,839
Fair Value of Long-Term Debt	$707,872	$765,538


	2022	2021
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.5% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	—
Total mortgage bonds	2,630,000	2,305,000
Securitization Bonds:



4.38% Series Senior Secured, Series A due November 2023	—	54,257
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	87,743	—
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	—
Total securitization bonds	278,593	54,257
Other:
Unamortized Premium and Discount - Net	11,528	13,556
Unamortized Debt Issuance Costs	(24,208)	(18,665)

Total Long-Term Debt	2,895,913	2,354,148
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$2,895,913	$2,354,148
Fair Value of Long-Term Debt	$2,485,705	$2,483,995


	2022	2021
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023	$250,000	$250,000
2.14% Series due December 2025	200,000	200,000
Total mortgage bonds	450,000	450,000
Governmental Bonds (a):
2.5% Series due April 2022, Mississippi Business Finance Corp.	—	50,305
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):



2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.77%	72,600	36,100
Total variable interest entity notes payable and credit facility	162,600	126,100
Other:
Term Loan due November 2023, weighted avg rate 3.721% (c)	50,000	—
Grand Gulf Sale-Leaseback Obligation	34,297	34,321
Unamortized Premium and Discount – Net	(50)	(108)
Unamortized Debt Issuance Costs	(2,637)	(3,017)

Total Long-Term Debt	777,905	741,296
Less Amount Due Within One Year	300,037	50,329
Long-Term Debt Excluding Amount Due Within One Year	$477,868	$690,967
Fair Value of Long-Term Debt	$702,473	$743,040

(a)Consists of pollution control revenue bonds.

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

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

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2023	$290,000	$1,010,000	$400,000	$171,306	$—	$300,000
2024	$375,000	$1,700,000	$100,000	$1,275	$—	$—
2025	$—	$373,900	$—	$79,140	$—	$272,600
2026	$690,000	$650,000	$—	$85,720	$130,000	$—
2027	$—	$570,000	$150,000	$19,490	$150,000	$90,000

Entergy Arkansas Debt Issuance

In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas expects to use the proceeds, together with other funds, to repay on or prior to maturity its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes.

Securitization Bonds

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 had an interest rate of 2.04%. Although the principal amount was not due until September 2023, Entergy Louisiana Investment Recovery Funding made principal payments on the bonds in the amount of $11 million in 2021, after which the bonds were fully repaid.

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 two years in the amounts of $12.5 million for 2023 and $6.2 million for 2024, after which the bonds will be fully repaid. 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). Although the principal amount was not due until June 2022, Entergy Gulf States Reconstruction Funding made principal payments on the bonds in the amount of $17.5 million in 2021, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

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

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

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


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

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next five years in the amounts of $17.8 million for 2023, $18.3 million for 2024, $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with a payment of $6.6 million.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to

the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

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

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues have included the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis. The amount was a net regulatory liability of $55.6 million as of December 31, 2021. In December 2022 the regulatory liability was derecognized as a result of a FERC order which determined that sale-leaseback rent payments during the renewal terms are not recoverable. See Note 2 to the financial statements for discussion of the December 2022 FERC order related to the Grand Gulf sale-leaseback renewal complaint.

As of December 31, 2022, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:


			Amount
			(In Thousands)

2023			$17,188
2024			17,188
2025			17,188
2026			17,188
2027			17,188
Years thereafter			154,688
Total			240,628
Less: Amount representing interest			206,330
Present value of net minimum lease payments			$34,298

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, 2022 and 2021 consisted of:


Type of Debt and Maturity	Weighted Average Interest Rate December 31, 2022	Interest Rate Ranges at December 31,		Outstanding at December 31,
		2022	2021	2022	2021
				(In Thousands)
Mortgage Bonds
2022-2026	2.98%	0.62% - 4.44%	0.62% - 5.59%	$6,058,000	$6,693,000
2027-2031	2.84%	1.60%- 4.19%	1.60% - 4.19%	3,515,000	3,515,000
2032-2041	3.56%	2.35% - 4.52%	2.35% - 4.52%	2,597,000	2,597,000
2044-2066	4.15%	2.65% - 5.50%	2.65% - 5.50%	8,005,000	6,980,000
Governmental Bonds (a)
2022-2044	2.43%	2.00% - 2.50%	2.00% - 2.5%	282,375	332,680
Securitization Bonds
2023-2036	3.57%	2.67% - 3.697%	2.67% - 4.38%	297,363	85,234
Variable Interest Entities Notes Payable (Note 4)
2023-2027	2.18%	1.84% - 3.22%	1.84% - 3.22%	310,000	310,000
Entergy Corporation Notes
due July 2022	n/a	—	4.00%	—	650,000
due September 2025	n/a	0.9%	0.9%	800,000	800,000
due September 2026	n/a	2.95%	2.95%	750,000	750,000
due June 2028	n/a	1.9%	1.9%	650,000	650,000
due June 2030	n/a	2.80%	2.80%	600,000	600,000
due June 2031	n/a	2.40%	2.40%	650,000	650,000
due June 2050	n/a	3.75%	3.75%	600,000	600,000
Entergy New Orleans Unsecured Term Loan due May 2023	n/a	2.5%	2.5%	70,000	70,000
Entergy Mississippi Unsecured Term Loan due December 2023	n/a	4.082%	—	150,000	—
System Energy Term Loan due November 2023	n/a	3.721%	—	50,000	—
5 Year Credit Facility (Note 4)	n/a	2.97%	1.60%	150,000	165,000
Entergy Louisiana Credit Facility (Note 4)	n/a	7.75%	1.32%	50,000	125,000

Vermont Yankee Credit Facility (Note 4)	n/a	3.19%	1.67%	139,000	139,000
Entergy Arkansas VIE Credit Facility (Note 4)	n/a	2.62%	1.17%	—	4,800
Entergy Louisiana River Bend VIE Credit Facility (Note 4)	n/a	2.17%	1.15%	13,100	42,700
Entergy Louisiana Waterford VIE Credit Facility (Note 4)	n/a	2.74%	1.16%	60,800	39,600
System Energy VIE Credit Facility (Note 4)	n/a	2.77%	1.16%	72,600	36,100
Long-term DOE Obligation (b)	—	—	—	195,044	192,115
Grand Gulf Sale-Leaseback Obligation	n/a	—	—	34,297	34,321
Unamortized Premium and Discount - Net				960	(8,273)
Unamortized Debt Issuance Costs				(173,464)	(177,904)
Other				5,474	5,528
Total Long-Term Debt				25,932,549	25,880,901
Less Amount Due Within One Year				2,309,037	1,039,329
Long-Term Debt Excluding Amount Due Within One Year				$23,623,512	$24,841,572
Fair Value of Long-Term Debt				$22,573,837	$27,061,171

(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.

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


			Amount
			(In Thousands)
2023			$2,310,306
2024			$2,176,275
2025			$1,525,640
2026			$2,305,720
2027			$1,129,490

Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2023. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through December 2023. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2023.

Long-term debt for the Registrant Subsidiaries as of December 31, 2022 and 2021 consisted of:


	2022	2021
	(In Thousands)
Entergy Arkansas
Mortgage Bonds:
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
4.00% Series due June 2028	350,000	350,000
4.95% Series due December 2044	250,000	250,000
4.20% Series due April 2049	550,000	350,000
2.65% Series due June 2051	675,000	675,000
3.35% Series due June 2052	400,000	400,000
4.875% Series due September 2066	410,000	410,000
Total mortgage bonds	3,860,000	3,660,000




Variable Interest Entity Notes Payable and Credit Facility (Note 4):


3.17% Series M due December 2023	40,000	40,000
1.84% Series N due July 2026	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.62%	—	4,800
Total variable interest entity notes payable and credit facility	130,000	134,800



Other:
Long-term DOE Obligation (b)	195,044	192,115
Unamortized Premium and Discount – Net	12,513	2,776
Unamortized Debt Issuance Costs	(33,009)	(32,803)
Other	1,952	1,974
Total Long-Term Debt	4,166,500	3,958,862
Less Amount Due Within One Year	290,000	—
Long-Term Debt Excluding Amount Due Within One Year	$3,876,500	$3,958,862
Fair Value of Long-Term Debt	$3,538,930	$4,176,577


	2022	2021
	(In Thousands)
Entergy Louisiana
Mortgage Bonds:
3.3% Series due December 2022	$—	$200,000
4.05% Series due September 2023	325,000	325,000
0.62% Series due November 2023	665,000	1,100,000
5.59% Series due October 2024	300,000	300,000
0.95% Series due October 2024	1,000,000	1,000,000
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
1.60% Series due December 2030	300,000	300,000
3.05% Series due June 2031	325,000	325,000
2.35% Series due June 2032	500,000	500,000
4.0% Series due March 2033	750,000	750,000
3.10% Series due June 2041	500,000	500,000
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	900,000	900,000
4.20% Series due April 2050	525,000	525,000
2.90% Series due March 2051	650,000	650,000
4.75% Series due September 2052	500,000	—
4.875% Series due September 2066	270,000	270,000
Total mortgage bonds	10,355,000	10,490,000
Governmental Bonds (a):


2.00% Series due June 2030, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	16,200	16,200
2.50% Series due April 2036, Louisiana Local Government Environmental Facilities and Community Development Authority (c)	182,480	182,480
Total governmental bonds	198,680	198,680
Variable Interest Entity Notes Payable and Credit Facilities (Note 4):


3.22% Series I due December 2023	20,000	20,000
2.51% Series V due June 2027	70,000	70,000
Credit Facility due June 2025, weighted avg rate 2.17%	13,100	42,700
Credit Facility due June 2025, weighted avg rate 2.74%	60,800	39,600
Total variable interest entity notes payable and credit facilities	163,900	172,300



Other:
Credit Facility due June 2027, weighted avg rate 7.75%	50,000	125,000
Unamortized Premium and Discount - Net	(8,482)	(7,523)
Unamortized Debt Issuance Costs	(63,698)	(67,665)
Other	3,522	3,554
Total Long-Term Debt	10,698,922	10,914,346
Less Amount Due Within One Year	1,010,000	200,000
Long-Term Debt Excluding Amount Due Within One Year	$9,688,922	$10,714,346
Fair Value of Long-Term Debt	$9,444,665	$11,492,650


	2022	2021
	(In Thousands)
Entergy Mississippi
Mortgage Bonds:
3.10% 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
2.55% Series due December 2033	200,000	200,000
4.52% Series due December 2038	55,000	55,000
3.85% Series due June 2049	435,000	435,000
3.50% Series due June 2051	370,000	370,000
4.90% Series due October 2066	260,000	260,000
Total mortgage bonds	2,195,000	2,195,000
Other:
Unsecured Term Loan due December 2023, weighted avg rate 4.082%	150,000	—
Unamortized Premium and Discount – Net	5,803	5,853
Unamortized Debt Issuance Costs	(19,707)	(20,864)

Total Long-Term Debt	2,331,096	2,179,989
Less Amount Due Within One Year	400,000	—
Long-Term Debt Excluding Amount Due Within One Year	$1,931,096	$2,179,989
Fair Value of Long-Term Debt	$1,987,154	$2,346,230


	2022	2021
	(In Thousands)
Entergy New Orleans
Mortgage Bonds:
3.9% Series due July 2023	$100,000	$100,000
3.0% Series due March 2025	78,000	78,000
4.0% Series due June 2026	85,000	85,000
4.19% Series due November 2031	90,000	90,000
4.51% Series due September 2033	60,000	60,000
4.51% Series due November 2036	70,000	70,000
3.75% Series due March 2040	62,000	62,000
5.0% Series due December 2052	30,000	30,000
5.50% Series due April 2066	110,000	110,000
Total mortgage bonds	685,000	685,000
Securitization Bonds:
2.67% Series Senior Secured due June 2027	18,770	30,977
Total securitization bonds	18,770	30,977
Other:

2.5% Unsecured Term Loan due May 2023	70,000	70,000
Payable to associated company due November 2035	9,585	10,911
Unamortized Premium and Discount – Net	(25)	(58)
Unamortized Debt Issuance Costs	(7,698)	(8,665)
Total Long-Term Debt	775,632	788,165
Less Amount Due Within One Year	171,306	1,326
Long-Term Debt Excluding Amount Due Within One Year	$604,326	$786,839
Fair Value of Long-Term Debt	$707,872	$765,538


	2022	2021
	(In Thousands)
Entergy Texas
Mortgage Bonds:
1.50% Series due September 2026	$130,000	$130,000
3.45% Series due December 2027	150,000	150,000
4.0% Series due March 2029	300,000	300,000
1.75% Series due March 2031	600,000	600,000
4.5% Series due March 2039	400,000	400,000
5.15% Series due June 2045	250,000	250,000
3.55% Series due September 2049	475,000	475,000
5.00% Series due September 2052	325,000	—
Total mortgage bonds	2,630,000	2,305,000
Securitization Bonds:



4.38% Series Senior Secured, Series A due November 2023	—	54,257
3.051% Series Senior Secured, Series A Tranche A-1 due December 2028	87,743	—
3.697% Series Senior Secured, Series A Tranche A-2 due December 2036	190,850	—
Total securitization bonds	278,593	54,257
Other:
Unamortized Premium and Discount - Net	11,528	13,556
Unamortized Debt Issuance Costs	(24,208)	(18,665)

Total Long-Term Debt	2,895,913	2,354,148
Less Amount Due Within One Year	—	—
Long-Term Debt Excluding Amount Due Within One Year	$2,895,913	$2,354,148
Fair Value of Long-Term Debt	$2,485,705	$2,483,995


	2022	2021
	(In Thousands)
System Energy
Mortgage Bonds:
4.1% Series due April 2023	$250,000	$250,000
2.14% Series due December 2025	200,000	200,000
Total mortgage bonds	450,000	450,000
Governmental Bonds (a):
2.5% Series due April 2022, Mississippi Business Finance Corp.	—	50,305
2.375% Series due June 2044, Mississippi Business Finance Corp. (c)	83,695	83,695
Total governmental bonds	83,695	134,000
Variable Interest Entity Notes Payable and Credit Facility (Note 4):



2.05% Series K due September 2027	90,000	90,000
Credit Facility due June 2025, weighted avg rate 2.77%	72,600	36,100
Total variable interest entity notes payable and credit facility	162,600	126,100
Other:
Term Loan due November 2023, weighted avg rate 3.721% (c)	50,000	—
Grand Gulf Sale-Leaseback Obligation	34,297	34,321
Unamortized Premium and Discount – Net	(50)	(108)
Unamortized Debt Issuance Costs	(2,637)	(3,017)

Total Long-Term Debt	777,905	741,296
Less Amount Due Within One Year	300,037	50,329
Long-Term Debt Excluding Amount Due Within One Year	$477,868	$690,967
Fair Value of Long-Term Debt	$702,473	$743,040

(a)Consists of pollution control revenue bonds.

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

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

The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2022, for the next five years are as follows:


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2023	$290,000	$1,010,000	$400,000	$171,306	$—	$300,000
2024	$375,000	$1,700,000	$100,000	$1,275	$—	$—
2025	$—	$373,900	$—	$79,140	$—	$272,600
2026	$690,000	$650,000	$—	$85,720	$130,000	$—
2027	$—	$570,000	$150,000	$19,490	$150,000	$90,000

Entergy Arkansas Debt Issuance

In January 2023, Entergy Arkansas issued $425 million of 5.15% Series mortgage bonds due January 2033. Entergy Arkansas expects to use the proceeds, together with other funds, to repay on or prior to maturity its $250 million of 3.05% Series mortgage bonds due June 2023 and for general corporate purposes.

Securitization Bonds

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 had an interest rate of 2.04%. Although the principal amount was not due until September 2023, Entergy Louisiana Investment Recovery Funding made principal payments on the bonds in the amount of $11 million in 2021, after which the bonds were fully repaid.

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 two years in the amounts of $12.5 million for 2023 and $6.2 million for 2024, after which the bonds will be fully repaid. 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). Although the principal amount was not due until June 2022, Entergy Gulf States Reconstruction Funding made principal payments on the bonds in the amount of $17.5 million in 2021, after which the bonds were fully repaid.

Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav

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

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

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


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

Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding II expects to make principal payments on the securitization bonds over the next five years in the amounts of $17.8 million for 2023, $18.3 million for 2024, $18.8 million for 2025, $19.4 million for 2026, and $13.4 million for 2027 for Tranche A-1. Entergy Texas Restoration Funding II expects to begin principal payments for Tranche A-2 in 2027 with a payment of $6.6 million.

With the proceeds, Entergy Texas Restoration Funding II purchased from Entergy Texas the transition property, which is the right to recover from customers through a system restoration charge amounts sufficient to service the securitization bonds. Entergy Texas expects to use the proceeds to reduce its outstanding debt. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding II, including the transition property, and the creditors of Entergy Texas Restoration Funding II do not have recourse to

the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding II except to remit system restoration charge collections.

Grand Gulf Sale-Leaseback Transactions

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

System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues have included the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis. The amount was a net regulatory liability of $55.6 million as of December 31, 2021. In December 2022 the regulatory liability was derecognized as a result of a FERC order which determined that sale-leaseback rent payments during the renewal terms are not recoverable. See Note 2 to the financial statements for discussion of the December 2022 FERC order related to the Grand Gulf sale-leaseback renewal complaint.

As of December 31, 2022, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal:


			Amount
			(In Thousands)

2023			$17,188
2024			17,188
2025			17,188
2026			17,188
2027			17,188
Years thereafter			154,688
Total			240,628
Less: Amount representing interest			206,330
Present value of net minimum lease payments			$34,298