| Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Notes) | 12 Months Ended |
| Dec. 31, 2020 |
| Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 but before January 1, 2021 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2020 2019 2018 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $161,487 $134,193 $155,010 Interest cost on projected benefit obligation 239,614 293,114 267,415 Expected return on assets (414,273) (414,947) (442,142) Amortization of prior service cost — — 398 Recognized net loss 350,010 241,117 274,104 Settlement charges 36,946 23,492 828 Net periodic pension costs $373,784 $276,969 $255,613 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $483,653 $614,600 $394,951 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — (398) Amortization of net loss (358,473) (241,117) (274,104) Settlement charge (36,946) (23,492) (828) Total $88,234 $349,991 $119,621 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $462,018 $626,960 $375,234 The Registrant Subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,329 $35,158 $8,060 $2,654 $6,116 $7,883 Interest cost on projected benefit obligation 44,165 50,432 12,922 5,825 10,731 11,006 Expected return on assets (78,187) (89,691) (23,147) (10,509) (21,951) (18,757) Recognized net loss 68,338 66,640 18,983 8,018 13,173 17,104 Settlement charges 21,078 8,109 3,366 — 4,289 105 Net pension cost $81,723 $70,648 $20,184 $5,988 $12,358 $17,341 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $106,178 $90,064 $36,899 $8,148 $13,379 $35,403 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (69,713) (68,248) (19,393) (8,213) (13,564) (17,434) Settlement charge (21,078) (8,109) (3,366) — (4,289) (105) Total $15,387 $13,707 $14,140 ($65) ($4,474) $17,864 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $97,110 $84,355 $34,324 $5,923 $7,884 $35,205 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705) (90,607) (23,873) (10,785) (23,447) (18,710) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361) (46,571) (12,416) (6,117) (9,335) (11,400) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404) (99,236) (26,007) (11,973) (26,091) (19,963) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650) (57,800) (14,438) (7,816) (10,503) (14,859) Total $20,920 ($16,158) $4,806 ($5,465) $13,618 ($17,218) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313) Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $8,406,203 $7,404,917 Service cost 161,487 134,193 Interest cost 239,614 293,114 Actuarial loss 969,609 1,292,767 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Balance at December 31 $9,143,652 $8,406,203 Change in Plan Assets Fair value of assets at January 1 $6,271,160 $5,497,415 Actual return on plan assets 900,229 1,093,114 Employer contributions 316,298 399,419 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Fair value of assets at December 31 $6,854,426 $6,271,160 Funded status ($2,289,226) ($2,135,043) Amount recognized in the balance sheet Non-current liabilities ($2,289,226) ($2,135,043) Amount recognized as a regulatory asset Net loss $2,926,670 $2,831,408 Amount recognized as AOCI (before tax) Net loss $726,010 $724,575 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Service cost 26,329 35,158 8,060 2,654 6,116 7,883 Interest cost 44,165 50,432 12,922 5,825 10,731 11,006 Actuarial loss 196,755 196,032 62,564 20,535 37,579 57,574 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Balance at December 31 $1,739,382 $1,927,271 $510,109 $220,287 $410,664 $441,148 Change in Plan Assets Fair value of assets at $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Actual return on plan assets 168,764 195,658 48,812 22,896 46,151 40,927 Employer contributions 60,008 55,443 12,601 4,567 4,997 16,145 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Fair value of assets at December 31 $1,285,856 $1,476,306 $371,394 $172,551 $349,748 $310,818 Funded status ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized as regulatory asset Net loss $816,002 $766,099 $239,904 $91,991 $156,480 $212,062 Amounts recognized as AOCI (before tax) Net loss $— $31,921 $— $— $— $— (a) Including settlement lump sum benefit payments of ($48.4) million at Entergy Arkansas, ($18.6) million at Entergy Louisiana, ($7.7) million at Entergy Mississippi, ($9.8) million at Entergy Texas, and ($236) thousand at System Energy. 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— The qualified pension plans incurred actuarial losses during 2020 and 2019 primarily due to a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for both 2020 and 2019. Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $8.4 billion and $7.8 billion at December 31, 2020 and 2019, respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2020 and 2019 was as follows: December 31, 2020 2019 (In Thousands) Entergy Arkansas $1,617,858 $1,519,998 Entergy Louisiana $1,753,980 $1,643,759 Entergy Mississippi $466,497 $438,817 Entergy New Orleans $201,159 $192,561 Entergy Texas $379,050 $371,589 System Energy $410,296 $368,771 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. In March 2020, Entergy announced changes to its other postretirement benefits. Effective January 1, 2021, certain retired, former non-bargaining employees age 65 and older who are eligible for Entergy-sponsored retiree welfare benefits, and their eligible spouses who are age 65 and older (collectively, Medicare-eligible participants), will be eligible to participate in a new Entergy-sponsored retiree health plan, and will no longer be eligible for retiree coverage under the Entergy Corporation Companies’ Benefits Plus Medical, Dental and Vision Plans. Under the new Entergy retiree health plan, Medicare-eligible participants will be eligible to participate in a health reimbursement arrangement which they may use towards the purchase of various types of qualified insurance offered through a Medicare exchange provider and for other qualified medical expenses. In accordance with accounting standards, the effects of this change are reflected in the December 31, 2020 other postretirement obligation. The changes affecting active bargaining unit employees will be negotiated with the unions prior to implementation, where necessary, and to the extent required by law. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2020, 2019, and 2018 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2020 2019 2018 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $24,500 $18,699 $27,129 Interest cost on accumulated postretirement benefit obligation (APBO) 28,597 47,901 50,725 Expected return on assets (40,880) (38,246) (41,493) Amortization of prior service credit (32,882) (35,377) (37,002) Recognized net loss 3,481 1,430 13,729 Net other postretirement benefit (income)/cost ($17,184) ($5,593) $13,088 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($128,837) $— $— Net (gain)/loss 41,031 (38,526) (274,354) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 32,882 35,377 37,002 Amortization of net loss (3,481) (1,430) (13,729) Total ($58,405) ($4,579) ($251,081) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($75,589) ($10,172) ($237,993) Total 2020, 2019, and 2018 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,626 $5,993 $1,468 $445 $1,219 $1,254 Interest cost on APBO 4,712 6,216 1,536 784 2,008 1,130 Expected return on assets (17,104) — (5,167) (5,382) (9,643) (2,958) Amortization of prior service credit (1,849) (6,179) (1,652) (763) (3,364) (1,065) Recognized net (gain)/ loss 540 (447) 171 (13) 907 121 Net other postretirement benefit (income)/cost ($10,075) $5,583 ($3,644) ($4,929) ($8,873) ($1,518) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service cost/(credit) for the period $12,320 ($23,508) ($4,428) ($5,493) ($22,441) ($1,963) Net (gain)/loss $2,245 $8,744 ($4,456) ($5,351) ($3,266) $58 Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 1,849 6,179 1,652 763 3,364 1,065 Amortization of net (gain)/loss (540) 447 (171) 13 (907) (121) Total $15,874 ($8,138) ($7,403) ($10,068) ($23,250) ($961) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) $5,799 ($2,555) ($11,047) ($14,997) ($32,123) ($2,479) 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962) — (4,794) (4,947) (9,103) (2,788) Amortization of prior service credit (4,950) (7,349) (1,756) (682) (2,243) (1,450) Recognized net (gain)/loss 576 (695) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747) $7,259 ($2,100) ($3,450) ($6,503) ($1,009) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707) ($2,220) ($11,950) ($10,967) ($6,406) ($5,539) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/ loss (576) 695 (723) (231) (485) (354) Total ($22,333) $5,824 ($10,917) ($10,516) ($4,648) ($4,443) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080) $13,083 ($13,017) ($13,966) ($11,151) ($5,452) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368) — (5,213) (5,250) (9,784) (3,130) Amortization of prior service credit (5,110) (7,735) (1,823) (745) (2,316) (1,513) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168) $11,194 ($1,513) ($3,673) ($6,204) ($490) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain (32,219) (73,249) (7,794) (981) (10,561) (6,680) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154) (1,550) (1,508) (137) (823) (932) Total ($28,263) ($67,064) ($7,479) ($373) ($9,068) ($6,099) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431) ($55,870) ($8,992) ($4,046) ($15,272) ($6,589) Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in APBO Balance at January 1 $1,252,903 $1,232,619 Service cost 24,500 18,699 Interest cost 28,597 47,901 Plan amendments (128,837) — Plan participant contributions 37,176 38,640 Actuarial loss 80,162 23,673 Benefits paid (113,786) (109,223) Medicare Part D subsidy received 360 594 Balance at December 31 $1,181,075 $1,252,903 Change in Plan Assets Fair value of assets at January 1 $686,262 $609,782 Actual return on plan assets 80,011 100,445 Employer contributions 48,203 46,618 Plan participant contributions 37,176 38,640 Benefits paid (113,786) (109,223) Fair value of assets at December 31 $737,866 $686,262 Funded status ($443,209) ($566,641) Amounts recognized in the balance sheet Current liabilities ($38,963) ($48,040) Non-current liabilities (404,246) (518,601) Total funded status ($443,209) ($566,641) Amounts recognized as a regulatory asset Prior service credit ($45,501) ($11,899) Net gain (8,565) (5,081) ($54,066) ($16,980) Amounts recognized as AOCI (before tax) Prior service credit ($83,581) ($21,231) Net (gain)/loss 24,365 (16,670) ($59,216) ($37,901) Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Service cost 3,626 5,993 1,468 445 1,219 1,254 Interest cost 4,712 6,216 1,536 784 2,008 1,130 Plan amendments 12,320 (23,508) (4,428) (5,493) (22,441) (1,963) Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Actuarial (gain)/loss 18,257 8,744 684 (91) 5,952 3,025 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Medicare Part D subsidy received 59 77 11 9 18 26 Balance at December 31 $209,369 $255,571 $61,990 $31,707 $74,233 $47,701 Change in Plan Assets Fair value of assets at January 1 $284,224 $— $86,085 $93,858 $161,810 $48,471 Actual return on plan assets 33,116 — 10,307 10,642 18,861 5,925 Employer contributions 2,201 16,126 343 641 690 1,342 Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Fair value of assets at December 31 $304,192 $— $93,475 $102,734 $174,096 $52,619 Funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in the balance sheet Current liabilities $— ($15,580) $— $— $— $— Non-current liabilities 94,823 (239,991) 31,485 71,027 99,863 4,918 Total funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in regulatory asset Prior service cost/(credit) $7,655 $— ($5,884) ($4,730) ($20,498) ($1,754) Net (gain)/loss (16,557) — (1,355) (13,385) 2,030 2,818 ($8,902) $— ($7,239) ($18,115) ($18,468) $1,064 Amounts recognized in AOCI (before tax) Prior service credit $— ($22,244) $— $— $— $— Net gain — (15,548) — — — — $— ($37,792) $— $— $— $— 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220) (3,778) (4,234) 8,279 (891) Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467) $— $— $— $— Non-current liabilities 98,480 (255,708) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515) $— ($3,108) $— ($1,422) ($854) Net (gain)/loss (18,262) — 3,272 (8,046) 6,203 2,881 ($24,777) $— $164 ($8,046) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915) $— $— $— $— Net gain — (24,739) — — — — $— ($29,654) $— $— $— $— The other postretirement plans incurred actuarial losses during 2020 primarily due to a reduction in the projected Employer Group Waiver Plan (EGWP) revenue and a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for 2020, an update to the latest mortality projection scale MP-2020, and favorable claims experience. The other postretirement plans experienced actuarial gains during 2019 primarily due to the actual return on assets exceeding the expected return on assets for 2019, favorable claims experience, an increase in projected EGWP revenue, and the adoption of the Pri.H-2012 mortality table with improvement scale MP-2019. These gains were partially offset by losses resulting from a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $18.1 million in 2020, $22.6 million in 2019, and $24.4 million in 2018. In 2019, and 2018 Entergy recognized $7.4 million and $7.7 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $182.4 million as of December 31, 2020 of which $22.9 million was a current liability and $159.5 million was a non-current liability. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The accumulated benefit obligation was $161.3 million and $143.4 million as of December 31, 2020 and 2019, respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ($77.3 million at December 31, 2020 and $58.8 million at December 31, 2019) and accumulated other comprehensive income before taxes ($16.7 million at December 31, 2020 and $24.9 million at December 31, 2019). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2020, 2019, and 2018, was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $333 $148 $359 $31 $469 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $3,197 $1,965 $3,852 $247 $8,475 2019 $2,755 $1,682 $3,286 $231 $7,783 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,626 $1,802 $3,345 $240 $7,949 2019 $2,248 $1,682 $2,938 $230 $7,391 The following amounts were recorded on the balance sheet as of December 31, 2020 and 2019: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy |
| Entergy Arkansas [Member] | |
| Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 but before January 1, 2021 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2020 2019 2018 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $161,487 $134,193 $155,010 Interest cost on projected benefit obligation 239,614 293,114 267,415 Expected return on assets (414,273) (414,947) (442,142) Amortization of prior service cost — — 398 Recognized net loss 350,010 241,117 274,104 Settlement charges 36,946 23,492 828 Net periodic pension costs $373,784 $276,969 $255,613 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $483,653 $614,600 $394,951 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — (398) Amortization of net loss (358,473) (241,117) (274,104) Settlement charge (36,946) (23,492) (828) Total $88,234 $349,991 $119,621 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $462,018 $626,960 $375,234 The Registrant Subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,329 $35,158 $8,060 $2,654 $6,116 $7,883 Interest cost on projected benefit obligation 44,165 50,432 12,922 5,825 10,731 11,006 Expected return on assets (78,187) (89,691) (23,147) (10,509) (21,951) (18,757) Recognized net loss 68,338 66,640 18,983 8,018 13,173 17,104 Settlement charges 21,078 8,109 3,366 — 4,289 105 Net pension cost $81,723 $70,648 $20,184 $5,988 $12,358 $17,341 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $106,178 $90,064 $36,899 $8,148 $13,379 $35,403 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (69,713) (68,248) (19,393) (8,213) (13,564) (17,434) Settlement charge (21,078) (8,109) (3,366) — (4,289) (105) Total $15,387 $13,707 $14,140 ($65) ($4,474) $17,864 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $97,110 $84,355 $34,324 $5,923 $7,884 $35,205 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705) (90,607) (23,873) (10,785) (23,447) (18,710) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361) (46,571) (12,416) (6,117) (9,335) (11,400) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404) (99,236) (26,007) (11,973) (26,091) (19,963) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650) (57,800) (14,438) (7,816) (10,503) (14,859) Total $20,920 ($16,158) $4,806 ($5,465) $13,618 ($17,218) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313) Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $8,406,203 $7,404,917 Service cost 161,487 134,193 Interest cost 239,614 293,114 Actuarial loss 969,609 1,292,767 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Balance at December 31 $9,143,652 $8,406,203 Change in Plan Assets Fair value of assets at January 1 $6,271,160 $5,497,415 Actual return on plan assets 900,229 1,093,114 Employer contributions 316,298 399,419 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Fair value of assets at December 31 $6,854,426 $6,271,160 Funded status ($2,289,226) ($2,135,043) Amount recognized in the balance sheet Non-current liabilities ($2,289,226) ($2,135,043) Amount recognized as a regulatory asset Net loss $2,926,670 $2,831,408 Amount recognized as AOCI (before tax) Net loss $726,010 $724,575 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Service cost 26,329 35,158 8,060 2,654 6,116 7,883 Interest cost 44,165 50,432 12,922 5,825 10,731 11,006 Actuarial loss 196,755 196,032 62,564 20,535 37,579 57,574 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Balance at December 31 $1,739,382 $1,927,271 $510,109 $220,287 $410,664 $441,148 Change in Plan Assets Fair value of assets at $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Actual return on plan assets 168,764 195,658 48,812 22,896 46,151 40,927 Employer contributions 60,008 55,443 12,601 4,567 4,997 16,145 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Fair value of assets at December 31 $1,285,856 $1,476,306 $371,394 $172,551 $349,748 $310,818 Funded status ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized as regulatory asset Net loss $816,002 $766,099 $239,904 $91,991 $156,480 $212,062 Amounts recognized as AOCI (before tax) Net loss $— $31,921 $— $— $— $— (a) Including settlement lump sum benefit payments of ($48.4) million at Entergy Arkansas, ($18.6) million at Entergy Louisiana, ($7.7) million at Entergy Mississippi, ($9.8) million at Entergy Texas, and ($236) thousand at System Energy. 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— The qualified pension plans incurred actuarial losses during 2020 and 2019 primarily due to a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for both 2020 and 2019. Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $8.4 billion and $7.8 billion at December 31, 2020 and 2019, respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2020 and 2019 was as follows: December 31, 2020 2019 (In Thousands) Entergy Arkansas $1,617,858 $1,519,998 Entergy Louisiana $1,753,980 $1,643,759 Entergy Mississippi $466,497 $438,817 Entergy New Orleans $201,159 $192,561 Entergy Texas $379,050 $371,589 System Energy $410,296 $368,771 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. In March 2020, Entergy announced changes to its other postretirement benefits. Effective January 1, 2021, certain retired, former non-bargaining employees age 65 and older who are eligible for Entergy-sponsored retiree welfare benefits, and their eligible spouses who are age 65 and older (collectively, Medicare-eligible participants), will be eligible to participate in a new Entergy-sponsored retiree health plan, and will no longer be eligible for retiree coverage under the Entergy Corporation Companies’ Benefits Plus Medical, Dental and Vision Plans. Under the new Entergy retiree health plan, Medicare-eligible participants will be eligible to participate in a health reimbursement arrangement which they may use towards the purchase of various types of qualified insurance offered through a Medicare exchange provider and for other qualified medical expenses. In accordance with accounting standards, the effects of this change are reflected in the December 31, 2020 other postretirement obligation. The changes affecting active bargaining unit employees will be negotiated with the unions prior to implementation, where necessary, and to the extent required by law. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2020, 2019, and 2018 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2020 2019 2018 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $24,500 $18,699 $27,129 Interest cost on accumulated postretirement benefit obligation (APBO) 28,597 47,901 50,725 Expected return on assets (40,880) (38,246) (41,493) Amortization of prior service credit (32,882) (35,377) (37,002) Recognized net loss 3,481 1,430 13,729 Net other postretirement benefit (income)/cost ($17,184) ($5,593) $13,088 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($128,837) $— $— Net (gain)/loss 41,031 (38,526) (274,354) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 32,882 35,377 37,002 Amortization of net loss (3,481) (1,430) (13,729) Total ($58,405) ($4,579) ($251,081) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($75,589) ($10,172) ($237,993) Total 2020, 2019, and 2018 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,626 $5,993 $1,468 $445 $1,219 $1,254 Interest cost on APBO 4,712 6,216 1,536 784 2,008 1,130 Expected return on assets (17,104) — (5,167) (5,382) (9,643) (2,958) Amortization of prior service credit (1,849) (6,179) (1,652) (763) (3,364) (1,065) Recognized net (gain)/ loss 540 (447) 171 (13) 907 121 Net other postretirement benefit (income)/cost ($10,075) $5,583 ($3,644) ($4,929) ($8,873) ($1,518) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service cost/(credit) for the period $12,320 ($23,508) ($4,428) ($5,493) ($22,441) ($1,963) Net (gain)/loss $2,245 $8,744 ($4,456) ($5,351) ($3,266) $58 Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 1,849 6,179 1,652 763 3,364 1,065 Amortization of net (gain)/loss (540) 447 (171) 13 (907) (121) Total $15,874 ($8,138) ($7,403) ($10,068) ($23,250) ($961) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) $5,799 ($2,555) ($11,047) ($14,997) ($32,123) ($2,479) 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962) — (4,794) (4,947) (9,103) (2,788) Amortization of prior service credit (4,950) (7,349) (1,756) (682) (2,243) (1,450) Recognized net (gain)/loss 576 (695) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747) $7,259 ($2,100) ($3,450) ($6,503) ($1,009) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707) ($2,220) ($11,950) ($10,967) ($6,406) ($5,539) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/ loss (576) 695 (723) (231) (485) (354) Total ($22,333) $5,824 ($10,917) ($10,516) ($4,648) ($4,443) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080) $13,083 ($13,017) ($13,966) ($11,151) ($5,452) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368) — (5,213) (5,250) (9,784) (3,130) Amortization of prior service credit (5,110) (7,735) (1,823) (745) (2,316) (1,513) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168) $11,194 ($1,513) ($3,673) ($6,204) ($490) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain (32,219) (73,249) (7,794) (981) (10,561) (6,680) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154) (1,550) (1,508) (137) (823) (932) Total ($28,263) ($67,064) ($7,479) ($373) ($9,068) ($6,099) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431) ($55,870) ($8,992) ($4,046) ($15,272) ($6,589) Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in APBO Balance at January 1 $1,252,903 $1,232,619 Service cost 24,500 18,699 Interest cost 28,597 47,901 Plan amendments (128,837) — Plan participant contributions 37,176 38,640 Actuarial loss 80,162 23,673 Benefits paid (113,786) (109,223) Medicare Part D subsidy received 360 594 Balance at December 31 $1,181,075 $1,252,903 Change in Plan Assets Fair value of assets at January 1 $686,262 $609,782 Actual return on plan assets 80,011 100,445 Employer contributions 48,203 46,618 Plan participant contributions 37,176 38,640 Benefits paid (113,786) (109,223) Fair value of assets at December 31 $737,866 $686,262 Funded status ($443,209) ($566,641) Amounts recognized in the balance sheet Current liabilities ($38,963) ($48,040) Non-current liabilities (404,246) (518,601) Total funded status ($443,209) ($566,641) Amounts recognized as a regulatory asset Prior service credit ($45,501) ($11,899) Net gain (8,565) (5,081) ($54,066) ($16,980) Amounts recognized as AOCI (before tax) Prior service credit ($83,581) ($21,231) Net (gain)/loss 24,365 (16,670) ($59,216) ($37,901) Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Service cost 3,626 5,993 1,468 445 1,219 1,254 Interest cost 4,712 6,216 1,536 784 2,008 1,130 Plan amendments 12,320 (23,508) (4,428) (5,493) (22,441) (1,963) Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Actuarial (gain)/loss 18,257 8,744 684 (91) 5,952 3,025 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Medicare Part D subsidy received 59 77 11 9 18 26 Balance at December 31 $209,369 $255,571 $61,990 $31,707 $74,233 $47,701 Change in Plan Assets Fair value of assets at January 1 $284,224 $— $86,085 $93,858 $161,810 $48,471 Actual return on plan assets 33,116 — 10,307 10,642 18,861 5,925 Employer contributions 2,201 16,126 343 641 690 1,342 Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Fair value of assets at December 31 $304,192 $— $93,475 $102,734 $174,096 $52,619 Funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in the balance sheet Current liabilities $— ($15,580) $— $— $— $— Non-current liabilities 94,823 (239,991) 31,485 71,027 99,863 4,918 Total funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in regulatory asset Prior service cost/(credit) $7,655 $— ($5,884) ($4,730) ($20,498) ($1,754) Net (gain)/loss (16,557) — (1,355) (13,385) 2,030 2,818 ($8,902) $— ($7,239) ($18,115) ($18,468) $1,064 Amounts recognized in AOCI (before tax) Prior service credit $— ($22,244) $— $— $— $— Net gain — (15,548) — — — — $— ($37,792) $— $— $— $— 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220) (3,778) (4,234) 8,279 (891) Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467) $— $— $— $— Non-current liabilities 98,480 (255,708) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515) $— ($3,108) $— ($1,422) ($854) Net (gain)/loss (18,262) — 3,272 (8,046) 6,203 2,881 ($24,777) $— $164 ($8,046) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915) $— $— $— $— Net gain — (24,739) — — — — $— ($29,654) $— $— $— $— The other postretirement plans incurred actuarial losses during 2020 primarily due to a reduction in the projected Employer Group Waiver Plan (EGWP) revenue and a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for 2020, an update to the latest mortality projection scale MP-2020, and favorable claims experience. The other postretirement plans experienced actuarial gains during 2019 primarily due to the actual return on assets exceeding the expected return on assets for 2019, favorable claims experience, an increase in projected EGWP revenue, and the adoption of the Pri.H-2012 mortality table with improvement scale MP-2019. These gains were partially offset by losses resulting from a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $18.1 million in 2020, $22.6 million in 2019, and $24.4 million in 2018. In 2019, and 2018 Entergy recognized $7.4 million and $7.7 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $182.4 million as of December 31, 2020 of which $22.9 million was a current liability and $159.5 million was a non-current liability. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The accumulated benefit obligation was $161.3 million and $143.4 million as of December 31, 2020 and 2019, respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ($77.3 million at December 31, 2020 and $58.8 million at December 31, 2019) and accumulated other comprehensive income before taxes ($16.7 million at December 31, 2020 and $24.9 million at December 31, 2019). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2020, 2019, and 2018, was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $333 $148 $359 $31 $469 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $3,197 $1,965 $3,852 $247 $8,475 2019 $2,755 $1,682 $3,286 $231 $7,783 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,626 $1,802 $3,345 $240 $7,949 2019 $2,248 $1,682 $2,938 $230 $7,391 The following amounts were recorded on the balance sheet as of December 31, 2020 and 2019: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy |
| Entergy Louisiana [Member] | |
| Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 but before January 1, 2021 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2020 2019 2018 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $161,487 $134,193 $155,010 Interest cost on projected benefit obligation 239,614 293,114 267,415 Expected return on assets (414,273) (414,947) (442,142) Amortization of prior service cost — — 398 Recognized net loss 350,010 241,117 274,104 Settlement charges 36,946 23,492 828 Net periodic pension costs $373,784 $276,969 $255,613 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $483,653 $614,600 $394,951 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — (398) Amortization of net loss (358,473) (241,117) (274,104) Settlement charge (36,946) (23,492) (828) Total $88,234 $349,991 $119,621 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $462,018 $626,960 $375,234 The Registrant Subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,329 $35,158 $8,060 $2,654 $6,116 $7,883 Interest cost on projected benefit obligation 44,165 50,432 12,922 5,825 10,731 11,006 Expected return on assets (78,187) (89,691) (23,147) (10,509) (21,951) (18,757) Recognized net loss 68,338 66,640 18,983 8,018 13,173 17,104 Settlement charges 21,078 8,109 3,366 — 4,289 105 Net pension cost $81,723 $70,648 $20,184 $5,988 $12,358 $17,341 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $106,178 $90,064 $36,899 $8,148 $13,379 $35,403 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (69,713) (68,248) (19,393) (8,213) (13,564) (17,434) Settlement charge (21,078) (8,109) (3,366) — (4,289) (105) Total $15,387 $13,707 $14,140 ($65) ($4,474) $17,864 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $97,110 $84,355 $34,324 $5,923 $7,884 $35,205 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705) (90,607) (23,873) (10,785) (23,447) (18,710) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361) (46,571) (12,416) (6,117) (9,335) (11,400) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404) (99,236) (26,007) (11,973) (26,091) (19,963) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650) (57,800) (14,438) (7,816) (10,503) (14,859) Total $20,920 ($16,158) $4,806 ($5,465) $13,618 ($17,218) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313) Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $8,406,203 $7,404,917 Service cost 161,487 134,193 Interest cost 239,614 293,114 Actuarial loss 969,609 1,292,767 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Balance at December 31 $9,143,652 $8,406,203 Change in Plan Assets Fair value of assets at January 1 $6,271,160 $5,497,415 Actual return on plan assets 900,229 1,093,114 Employer contributions 316,298 399,419 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Fair value of assets at December 31 $6,854,426 $6,271,160 Funded status ($2,289,226) ($2,135,043) Amount recognized in the balance sheet Non-current liabilities ($2,289,226) ($2,135,043) Amount recognized as a regulatory asset Net loss $2,926,670 $2,831,408 Amount recognized as AOCI (before tax) Net loss $726,010 $724,575 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Service cost 26,329 35,158 8,060 2,654 6,116 7,883 Interest cost 44,165 50,432 12,922 5,825 10,731 11,006 Actuarial loss 196,755 196,032 62,564 20,535 37,579 57,574 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Balance at December 31 $1,739,382 $1,927,271 $510,109 $220,287 $410,664 $441,148 Change in Plan Assets Fair value of assets at $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Actual return on plan assets 168,764 195,658 48,812 22,896 46,151 40,927 Employer contributions 60,008 55,443 12,601 4,567 4,997 16,145 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Fair value of assets at December 31 $1,285,856 $1,476,306 $371,394 $172,551 $349,748 $310,818 Funded status ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized as regulatory asset Net loss $816,002 $766,099 $239,904 $91,991 $156,480 $212,062 Amounts recognized as AOCI (before tax) Net loss $— $31,921 $— $— $— $— (a) Including settlement lump sum benefit payments of ($48.4) million at Entergy Arkansas, ($18.6) million at Entergy Louisiana, ($7.7) million at Entergy Mississippi, ($9.8) million at Entergy Texas, and ($236) thousand at System Energy. 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— The qualified pension plans incurred actuarial losses during 2020 and 2019 primarily due to a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for both 2020 and 2019. Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $8.4 billion and $7.8 billion at December 31, 2020 and 2019, respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2020 and 2019 was as follows: December 31, 2020 2019 (In Thousands) Entergy Arkansas $1,617,858 $1,519,998 Entergy Louisiana $1,753,980 $1,643,759 Entergy Mississippi $466,497 $438,817 Entergy New Orleans $201,159 $192,561 Entergy Texas $379,050 $371,589 System Energy $410,296 $368,771 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. In March 2020, Entergy announced changes to its other postretirement benefits. Effective January 1, 2021, certain retired, former non-bargaining employees age 65 and older who are eligible for Entergy-sponsored retiree welfare benefits, and their eligible spouses who are age 65 and older (collectively, Medicare-eligible participants), will be eligible to participate in a new Entergy-sponsored retiree health plan, and will no longer be eligible for retiree coverage under the Entergy Corporation Companies’ Benefits Plus Medical, Dental and Vision Plans. Under the new Entergy retiree health plan, Medicare-eligible participants will be eligible to participate in a health reimbursement arrangement which they may use towards the purchase of various types of qualified insurance offered through a Medicare exchange provider and for other qualified medical expenses. In accordance with accounting standards, the effects of this change are reflected in the December 31, 2020 other postretirement obligation. The changes affecting active bargaining unit employees will be negotiated with the unions prior to implementation, where necessary, and to the extent required by law. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2020, 2019, and 2018 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2020 2019 2018 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $24,500 $18,699 $27,129 Interest cost on accumulated postretirement benefit obligation (APBO) 28,597 47,901 50,725 Expected return on assets (40,880) (38,246) (41,493) Amortization of prior service credit (32,882) (35,377) (37,002) Recognized net loss 3,481 1,430 13,729 Net other postretirement benefit (income)/cost ($17,184) ($5,593) $13,088 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($128,837) $— $— Net (gain)/loss 41,031 (38,526) (274,354) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 32,882 35,377 37,002 Amortization of net loss (3,481) (1,430) (13,729) Total ($58,405) ($4,579) ($251,081) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($75,589) ($10,172) ($237,993) Total 2020, 2019, and 2018 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,626 $5,993 $1,468 $445 $1,219 $1,254 Interest cost on APBO 4,712 6,216 1,536 784 2,008 1,130 Expected return on assets (17,104) — (5,167) (5,382) (9,643) (2,958) Amortization of prior service credit (1,849) (6,179) (1,652) (763) (3,364) (1,065) Recognized net (gain)/ loss 540 (447) 171 (13) 907 121 Net other postretirement benefit (income)/cost ($10,075) $5,583 ($3,644) ($4,929) ($8,873) ($1,518) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service cost/(credit) for the period $12,320 ($23,508) ($4,428) ($5,493) ($22,441) ($1,963) Net (gain)/loss $2,245 $8,744 ($4,456) ($5,351) ($3,266) $58 Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 1,849 6,179 1,652 763 3,364 1,065 Amortization of net (gain)/loss (540) 447 (171) 13 (907) (121) Total $15,874 ($8,138) ($7,403) ($10,068) ($23,250) ($961) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) $5,799 ($2,555) ($11,047) ($14,997) ($32,123) ($2,479) 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962) — (4,794) (4,947) (9,103) (2,788) Amortization of prior service credit (4,950) (7,349) (1,756) (682) (2,243) (1,450) Recognized net (gain)/loss 576 (695) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747) $7,259 ($2,100) ($3,450) ($6,503) ($1,009) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707) ($2,220) ($11,950) ($10,967) ($6,406) ($5,539) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/ loss (576) 695 (723) (231) (485) (354) Total ($22,333) $5,824 ($10,917) ($10,516) ($4,648) ($4,443) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080) $13,083 ($13,017) ($13,966) ($11,151) ($5,452) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368) — (5,213) (5,250) (9,784) (3,130) Amortization of prior service credit (5,110) (7,735) (1,823) (745) (2,316) (1,513) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168) $11,194 ($1,513) ($3,673) ($6,204) ($490) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain (32,219) (73,249) (7,794) (981) (10,561) (6,680) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154) (1,550) (1,508) (137) (823) (932) Total ($28,263) ($67,064) ($7,479) ($373) ($9,068) ($6,099) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431) ($55,870) ($8,992) ($4,046) ($15,272) ($6,589) Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in APBO Balance at January 1 $1,252,903 $1,232,619 Service cost 24,500 18,699 Interest cost 28,597 47,901 Plan amendments (128,837) — Plan participant contributions 37,176 38,640 Actuarial loss 80,162 23,673 Benefits paid (113,786) (109,223) Medicare Part D subsidy received 360 594 Balance at December 31 $1,181,075 $1,252,903 Change in Plan Assets Fair value of assets at January 1 $686,262 $609,782 Actual return on plan assets 80,011 100,445 Employer contributions 48,203 46,618 Plan participant contributions 37,176 38,640 Benefits paid (113,786) (109,223) Fair value of assets at December 31 $737,866 $686,262 Funded status ($443,209) ($566,641) Amounts recognized in the balance sheet Current liabilities ($38,963) ($48,040) Non-current liabilities (404,246) (518,601) Total funded status ($443,209) ($566,641) Amounts recognized as a regulatory asset Prior service credit ($45,501) ($11,899) Net gain (8,565) (5,081) ($54,066) ($16,980) Amounts recognized as AOCI (before tax) Prior service credit ($83,581) ($21,231) Net (gain)/loss 24,365 (16,670) ($59,216) ($37,901) Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Service cost 3,626 5,993 1,468 445 1,219 1,254 Interest cost 4,712 6,216 1,536 784 2,008 1,130 Plan amendments 12,320 (23,508) (4,428) (5,493) (22,441) (1,963) Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Actuarial (gain)/loss 18,257 8,744 684 (91) 5,952 3,025 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Medicare Part D subsidy received 59 77 11 9 18 26 Balance at December 31 $209,369 $255,571 $61,990 $31,707 $74,233 $47,701 Change in Plan Assets Fair value of assets at January 1 $284,224 $— $86,085 $93,858 $161,810 $48,471 Actual return on plan assets 33,116 — 10,307 10,642 18,861 5,925 Employer contributions 2,201 16,126 343 641 690 1,342 Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Fair value of assets at December 31 $304,192 $— $93,475 $102,734 $174,096 $52,619 Funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in the balance sheet Current liabilities $— ($15,580) $— $— $— $— Non-current liabilities 94,823 (239,991) 31,485 71,027 99,863 4,918 Total funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in regulatory asset Prior service cost/(credit) $7,655 $— ($5,884) ($4,730) ($20,498) ($1,754) Net (gain)/loss (16,557) — (1,355) (13,385) 2,030 2,818 ($8,902) $— ($7,239) ($18,115) ($18,468) $1,064 Amounts recognized in AOCI (before tax) Prior service credit $— ($22,244) $— $— $— $— Net gain — (15,548) — — — — $— ($37,792) $— $— $— $— 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220) (3,778) (4,234) 8,279 (891) Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467) $— $— $— $— Non-current liabilities 98,480 (255,708) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515) $— ($3,108) $— ($1,422) ($854) Net (gain)/loss (18,262) — 3,272 (8,046) 6,203 2,881 ($24,777) $— $164 ($8,046) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915) $— $— $— $— Net gain — (24,739) — — — — $— ($29,654) $— $— $— $— The other postretirement plans incurred actuarial losses during 2020 primarily due to a reduction in the projected Employer Group Waiver Plan (EGWP) revenue and a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for 2020, an update to the latest mortality projection scale MP-2020, and favorable claims experience. The other postretirement plans experienced actuarial gains during 2019 primarily due to the actual return on assets exceeding the expected return on assets for 2019, favorable claims experience, an increase in projected EGWP revenue, and the adoption of the Pri.H-2012 mortality table with improvement scale MP-2019. These gains were partially offset by losses resulting from a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $18.1 million in 2020, $22.6 million in 2019, and $24.4 million in 2018. In 2019, and 2018 Entergy recognized $7.4 million and $7.7 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $182.4 million as of December 31, 2020 of which $22.9 million was a current liability and $159.5 million was a non-current liability. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The accumulated benefit obligation was $161.3 million and $143.4 million as of December 31, 2020 and 2019, respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ($77.3 million at December 31, 2020 and $58.8 million at December 31, 2019) and accumulated other comprehensive income before taxes ($16.7 million at December 31, 2020 and $24.9 million at December 31, 2019). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2020, 2019, and 2018, was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $333 $148 $359 $31 $469 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $3,197 $1,965 $3,852 $247 $8,475 2019 $2,755 $1,682 $3,286 $231 $7,783 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,626 $1,802 $3,345 $240 $7,949 2019 $2,248 $1,682 $2,938 $230 $7,391 The following amounts were recorded on the balance sheet as of December 31, 2020 and 2019: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy |
| Entergy Mississippi [Member] | |
| Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 but before January 1, 2021 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2020 2019 2018 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $161,487 $134,193 $155,010 Interest cost on projected benefit obligation 239,614 293,114 267,415 Expected return on assets (414,273) (414,947) (442,142) Amortization of prior service cost — — 398 Recognized net loss 350,010 241,117 274,104 Settlement charges 36,946 23,492 828 Net periodic pension costs $373,784 $276,969 $255,613 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $483,653 $614,600 $394,951 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — (398) Amortization of net loss (358,473) (241,117) (274,104) Settlement charge (36,946) (23,492) (828) Total $88,234 $349,991 $119,621 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $462,018 $626,960 $375,234 The Registrant Subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,329 $35,158 $8,060 $2,654 $6,116 $7,883 Interest cost on projected benefit obligation 44,165 50,432 12,922 5,825 10,731 11,006 Expected return on assets (78,187) (89,691) (23,147) (10,509) (21,951) (18,757) Recognized net loss 68,338 66,640 18,983 8,018 13,173 17,104 Settlement charges 21,078 8,109 3,366 — 4,289 105 Net pension cost $81,723 $70,648 $20,184 $5,988 $12,358 $17,341 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $106,178 $90,064 $36,899 $8,148 $13,379 $35,403 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (69,713) (68,248) (19,393) (8,213) (13,564) (17,434) Settlement charge (21,078) (8,109) (3,366) — (4,289) (105) Total $15,387 $13,707 $14,140 ($65) ($4,474) $17,864 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $97,110 $84,355 $34,324 $5,923 $7,884 $35,205 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705) (90,607) (23,873) (10,785) (23,447) (18,710) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361) (46,571) (12,416) (6,117) (9,335) (11,400) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404) (99,236) (26,007) (11,973) (26,091) (19,963) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650) (57,800) (14,438) (7,816) (10,503) (14,859) Total $20,920 ($16,158) $4,806 ($5,465) $13,618 ($17,218) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313) Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $8,406,203 $7,404,917 Service cost 161,487 134,193 Interest cost 239,614 293,114 Actuarial loss 969,609 1,292,767 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Balance at December 31 $9,143,652 $8,406,203 Change in Plan Assets Fair value of assets at January 1 $6,271,160 $5,497,415 Actual return on plan assets 900,229 1,093,114 Employer contributions 316,298 399,419 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Fair value of assets at December 31 $6,854,426 $6,271,160 Funded status ($2,289,226) ($2,135,043) Amount recognized in the balance sheet Non-current liabilities ($2,289,226) ($2,135,043) Amount recognized as a regulatory asset Net loss $2,926,670 $2,831,408 Amount recognized as AOCI (before tax) Net loss $726,010 $724,575 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Service cost 26,329 35,158 8,060 2,654 6,116 7,883 Interest cost 44,165 50,432 12,922 5,825 10,731 11,006 Actuarial loss 196,755 196,032 62,564 20,535 37,579 57,574 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Balance at December 31 $1,739,382 $1,927,271 $510,109 $220,287 $410,664 $441,148 Change in Plan Assets Fair value of assets at $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Actual return on plan assets 168,764 195,658 48,812 22,896 46,151 40,927 Employer contributions 60,008 55,443 12,601 4,567 4,997 16,145 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Fair value of assets at December 31 $1,285,856 $1,476,306 $371,394 $172,551 $349,748 $310,818 Funded status ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized as regulatory asset Net loss $816,002 $766,099 $239,904 $91,991 $156,480 $212,062 Amounts recognized as AOCI (before tax) Net loss $— $31,921 $— $— $— $— (a) Including settlement lump sum benefit payments of ($48.4) million at Entergy Arkansas, ($18.6) million at Entergy Louisiana, ($7.7) million at Entergy Mississippi, ($9.8) million at Entergy Texas, and ($236) thousand at System Energy. 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— The qualified pension plans incurred actuarial losses during 2020 and 2019 primarily due to a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for both 2020 and 2019. Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $8.4 billion and $7.8 billion at December 31, 2020 and 2019, respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2020 and 2019 was as follows: December 31, 2020 2019 (In Thousands) Entergy Arkansas $1,617,858 $1,519,998 Entergy Louisiana $1,753,980 $1,643,759 Entergy Mississippi $466,497 $438,817 Entergy New Orleans $201,159 $192,561 Entergy Texas $379,050 $371,589 System Energy $410,296 $368,771 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. In March 2020, Entergy announced changes to its other postretirement benefits. Effective January 1, 2021, certain retired, former non-bargaining employees age 65 and older who are eligible for Entergy-sponsored retiree welfare benefits, and their eligible spouses who are age 65 and older (collectively, Medicare-eligible participants), will be eligible to participate in a new Entergy-sponsored retiree health plan, and will no longer be eligible for retiree coverage under the Entergy Corporation Companies’ Benefits Plus Medical, Dental and Vision Plans. Under the new Entergy retiree health plan, Medicare-eligible participants will be eligible to participate in a health reimbursement arrangement which they may use towards the purchase of various types of qualified insurance offered through a Medicare exchange provider and for other qualified medical expenses. In accordance with accounting standards, the effects of this change are reflected in the December 31, 2020 other postretirement obligation. The changes affecting active bargaining unit employees will be negotiated with the unions prior to implementation, where necessary, and to the extent required by law. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2020, 2019, and 2018 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2020 2019 2018 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $24,500 $18,699 $27,129 Interest cost on accumulated postretirement benefit obligation (APBO) 28,597 47,901 50,725 Expected return on assets (40,880) (38,246) (41,493) Amortization of prior service credit (32,882) (35,377) (37,002) Recognized net loss 3,481 1,430 13,729 Net other postretirement benefit (income)/cost ($17,184) ($5,593) $13,088 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($128,837) $— $— Net (gain)/loss 41,031 (38,526) (274,354) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 32,882 35,377 37,002 Amortization of net loss (3,481) (1,430) (13,729) Total ($58,405) ($4,579) ($251,081) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($75,589) ($10,172) ($237,993) Total 2020, 2019, and 2018 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,626 $5,993 $1,468 $445 $1,219 $1,254 Interest cost on APBO 4,712 6,216 1,536 784 2,008 1,130 Expected return on assets (17,104) — (5,167) (5,382) (9,643) (2,958) Amortization of prior service credit (1,849) (6,179) (1,652) (763) (3,364) (1,065) Recognized net (gain)/ loss 540 (447) 171 (13) 907 121 Net other postretirement benefit (income)/cost ($10,075) $5,583 ($3,644) ($4,929) ($8,873) ($1,518) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service cost/(credit) for the period $12,320 ($23,508) ($4,428) ($5,493) ($22,441) ($1,963) Net (gain)/loss $2,245 $8,744 ($4,456) ($5,351) ($3,266) $58 Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 1,849 6,179 1,652 763 3,364 1,065 Amortization of net (gain)/loss (540) 447 (171) 13 (907) (121) Total $15,874 ($8,138) ($7,403) ($10,068) ($23,250) ($961) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) $5,799 ($2,555) ($11,047) ($14,997) ($32,123) ($2,479) 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962) — (4,794) (4,947) (9,103) (2,788) Amortization of prior service credit (4,950) (7,349) (1,756) (682) (2,243) (1,450) Recognized net (gain)/loss 576 (695) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747) $7,259 ($2,100) ($3,450) ($6,503) ($1,009) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707) ($2,220) ($11,950) ($10,967) ($6,406) ($5,539) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/ loss (576) 695 (723) (231) (485) (354) Total ($22,333) $5,824 ($10,917) ($10,516) ($4,648) ($4,443) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080) $13,083 ($13,017) ($13,966) ($11,151) ($5,452) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368) — (5,213) (5,250) (9,784) (3,130) Amortization of prior service credit (5,110) (7,735) (1,823) (745) (2,316) (1,513) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168) $11,194 ($1,513) ($3,673) ($6,204) ($490) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain (32,219) (73,249) (7,794) (981) (10,561) (6,680) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154) (1,550) (1,508) (137) (823) (932) Total ($28,263) ($67,064) ($7,479) ($373) ($9,068) ($6,099) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431) ($55,870) ($8,992) ($4,046) ($15,272) ($6,589) Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in APBO Balance at January 1 $1,252,903 $1,232,619 Service cost 24,500 18,699 Interest cost 28,597 47,901 Plan amendments (128,837) — Plan participant contributions 37,176 38,640 Actuarial loss 80,162 23,673 Benefits paid (113,786) (109,223) Medicare Part D subsidy received 360 594 Balance at December 31 $1,181,075 $1,252,903 Change in Plan Assets Fair value of assets at January 1 $686,262 $609,782 Actual return on plan assets 80,011 100,445 Employer contributions 48,203 46,618 Plan participant contributions 37,176 38,640 Benefits paid (113,786) (109,223) Fair value of assets at December 31 $737,866 $686,262 Funded status ($443,209) ($566,641) Amounts recognized in the balance sheet Current liabilities ($38,963) ($48,040) Non-current liabilities (404,246) (518,601) Total funded status ($443,209) ($566,641) Amounts recognized as a regulatory asset Prior service credit ($45,501) ($11,899) Net gain (8,565) (5,081) ($54,066) ($16,980) Amounts recognized as AOCI (before tax) Prior service credit ($83,581) ($21,231) Net (gain)/loss 24,365 (16,670) ($59,216) ($37,901) Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Service cost 3,626 5,993 1,468 445 1,219 1,254 Interest cost 4,712 6,216 1,536 784 2,008 1,130 Plan amendments 12,320 (23,508) (4,428) (5,493) (22,441) (1,963) Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Actuarial (gain)/loss 18,257 8,744 684 (91) 5,952 3,025 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Medicare Part D subsidy received 59 77 11 9 18 26 Balance at December 31 $209,369 $255,571 $61,990 $31,707 $74,233 $47,701 Change in Plan Assets Fair value of assets at January 1 $284,224 $— $86,085 $93,858 $161,810 $48,471 Actual return on plan assets 33,116 — 10,307 10,642 18,861 5,925 Employer contributions 2,201 16,126 343 641 690 1,342 Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Fair value of assets at December 31 $304,192 $— $93,475 $102,734 $174,096 $52,619 Funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in the balance sheet Current liabilities $— ($15,580) $— $— $— $— Non-current liabilities 94,823 (239,991) 31,485 71,027 99,863 4,918 Total funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in regulatory asset Prior service cost/(credit) $7,655 $— ($5,884) ($4,730) ($20,498) ($1,754) Net (gain)/loss (16,557) — (1,355) (13,385) 2,030 2,818 ($8,902) $— ($7,239) ($18,115) ($18,468) $1,064 Amounts recognized in AOCI (before tax) Prior service credit $— ($22,244) $— $— $— $— Net gain — (15,548) — — — — $— ($37,792) $— $— $— $— 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220) (3,778) (4,234) 8,279 (891) Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467) $— $— $— $— Non-current liabilities 98,480 (255,708) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515) $— ($3,108) $— ($1,422) ($854) Net (gain)/loss (18,262) — 3,272 (8,046) 6,203 2,881 ($24,777) $— $164 ($8,046) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915) $— $— $— $— Net gain — (24,739) — — — — $— ($29,654) $— $— $— $— The other postretirement plans incurred actuarial losses during 2020 primarily due to a reduction in the projected Employer Group Waiver Plan (EGWP) revenue and a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for 2020, an update to the latest mortality projection scale MP-2020, and favorable claims experience. The other postretirement plans experienced actuarial gains during 2019 primarily due to the actual return on assets exceeding the expected return on assets for 2019, favorable claims experience, an increase in projected EGWP revenue, and the adoption of the Pri.H-2012 mortality table with improvement scale MP-2019. These gains were partially offset by losses resulting from a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $18.1 million in 2020, $22.6 million in 2019, and $24.4 million in 2018. In 2019, and 2018 Entergy recognized $7.4 million and $7.7 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $182.4 million as of December 31, 2020 of which $22.9 million was a current liability and $159.5 million was a non-current liability. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The accumulated benefit obligation was $161.3 million and $143.4 million as of December 31, 2020 and 2019, respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ($77.3 million at December 31, 2020 and $58.8 million at December 31, 2019) and accumulated other comprehensive income before taxes ($16.7 million at December 31, 2020 and $24.9 million at December 31, 2019). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2020, 2019, and 2018, was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $333 $148 $359 $31 $469 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $3,197 $1,965 $3,852 $247 $8,475 2019 $2,755 $1,682 $3,286 $231 $7,783 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,626 $1,802 $3,345 $240 $7,949 2019 $2,248 $1,682 $2,938 $230 $7,391 The following amounts were recorded on the balance sheet as of December 31, 2020 and 2019: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy |
| Entergy New Orleans [Member] | |
| Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 but before January 1, 2021 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2020 2019 2018 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $161,487 $134,193 $155,010 Interest cost on projected benefit obligation 239,614 293,114 267,415 Expected return on assets (414,273) (414,947) (442,142) Amortization of prior service cost — — 398 Recognized net loss 350,010 241,117 274,104 Settlement charges 36,946 23,492 828 Net periodic pension costs $373,784 $276,969 $255,613 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $483,653 $614,600 $394,951 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — (398) Amortization of net loss (358,473) (241,117) (274,104) Settlement charge (36,946) (23,492) (828) Total $88,234 $349,991 $119,621 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $462,018 $626,960 $375,234 The Registrant Subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,329 $35,158 $8,060 $2,654 $6,116 $7,883 Interest cost on projected benefit obligation 44,165 50,432 12,922 5,825 10,731 11,006 Expected return on assets (78,187) (89,691) (23,147) (10,509) (21,951) (18,757) Recognized net loss 68,338 66,640 18,983 8,018 13,173 17,104 Settlement charges 21,078 8,109 3,366 — 4,289 105 Net pension cost $81,723 $70,648 $20,184 $5,988 $12,358 $17,341 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $106,178 $90,064 $36,899 $8,148 $13,379 $35,403 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (69,713) (68,248) (19,393) (8,213) (13,564) (17,434) Settlement charge (21,078) (8,109) (3,366) — (4,289) (105) Total $15,387 $13,707 $14,140 ($65) ($4,474) $17,864 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $97,110 $84,355 $34,324 $5,923 $7,884 $35,205 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705) (90,607) (23,873) (10,785) (23,447) (18,710) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361) (46,571) (12,416) (6,117) (9,335) (11,400) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404) (99,236) (26,007) (11,973) (26,091) (19,963) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650) (57,800) (14,438) (7,816) (10,503) (14,859) Total $20,920 ($16,158) $4,806 ($5,465) $13,618 ($17,218) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313) Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $8,406,203 $7,404,917 Service cost 161,487 134,193 Interest cost 239,614 293,114 Actuarial loss 969,609 1,292,767 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Balance at December 31 $9,143,652 $8,406,203 Change in Plan Assets Fair value of assets at January 1 $6,271,160 $5,497,415 Actual return on plan assets 900,229 1,093,114 Employer contributions 316,298 399,419 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Fair value of assets at December 31 $6,854,426 $6,271,160 Funded status ($2,289,226) ($2,135,043) Amount recognized in the balance sheet Non-current liabilities ($2,289,226) ($2,135,043) Amount recognized as a regulatory asset Net loss $2,926,670 $2,831,408 Amount recognized as AOCI (before tax) Net loss $726,010 $724,575 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Service cost 26,329 35,158 8,060 2,654 6,116 7,883 Interest cost 44,165 50,432 12,922 5,825 10,731 11,006 Actuarial loss 196,755 196,032 62,564 20,535 37,579 57,574 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Balance at December 31 $1,739,382 $1,927,271 $510,109 $220,287 $410,664 $441,148 Change in Plan Assets Fair value of assets at $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Actual return on plan assets 168,764 195,658 48,812 22,896 46,151 40,927 Employer contributions 60,008 55,443 12,601 4,567 4,997 16,145 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Fair value of assets at December 31 $1,285,856 $1,476,306 $371,394 $172,551 $349,748 $310,818 Funded status ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized as regulatory asset Net loss $816,002 $766,099 $239,904 $91,991 $156,480 $212,062 Amounts recognized as AOCI (before tax) Net loss $— $31,921 $— $— $— $— (a) Including settlement lump sum benefit payments of ($48.4) million at Entergy Arkansas, ($18.6) million at Entergy Louisiana, ($7.7) million at Entergy Mississippi, ($9.8) million at Entergy Texas, and ($236) thousand at System Energy. 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— The qualified pension plans incurred actuarial losses during 2020 and 2019 primarily due to a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for both 2020 and 2019. Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $8.4 billion and $7.8 billion at December 31, 2020 and 2019, respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2020 and 2019 was as follows: December 31, 2020 2019 (In Thousands) Entergy Arkansas $1,617,858 $1,519,998 Entergy Louisiana $1,753,980 $1,643,759 Entergy Mississippi $466,497 $438,817 Entergy New Orleans $201,159 $192,561 Entergy Texas $379,050 $371,589 System Energy $410,296 $368,771 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. In March 2020, Entergy announced changes to its other postretirement benefits. Effective January 1, 2021, certain retired, former non-bargaining employees age 65 and older who are eligible for Entergy-sponsored retiree welfare benefits, and their eligible spouses who are age 65 and older (collectively, Medicare-eligible participants), will be eligible to participate in a new Entergy-sponsored retiree health plan, and will no longer be eligible for retiree coverage under the Entergy Corporation Companies’ Benefits Plus Medical, Dental and Vision Plans. Under the new Entergy retiree health plan, Medicare-eligible participants will be eligible to participate in a health reimbursement arrangement which they may use towards the purchase of various types of qualified insurance offered through a Medicare exchange provider and for other qualified medical expenses. In accordance with accounting standards, the effects of this change are reflected in the December 31, 2020 other postretirement obligation. The changes affecting active bargaining unit employees will be negotiated with the unions prior to implementation, where necessary, and to the extent required by law. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2020, 2019, and 2018 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2020 2019 2018 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $24,500 $18,699 $27,129 Interest cost on accumulated postretirement benefit obligation (APBO) 28,597 47,901 50,725 Expected return on assets (40,880) (38,246) (41,493) Amortization of prior service credit (32,882) (35,377) (37,002) Recognized net loss 3,481 1,430 13,729 Net other postretirement benefit (income)/cost ($17,184) ($5,593) $13,088 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($128,837) $— $— Net (gain)/loss 41,031 (38,526) (274,354) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 32,882 35,377 37,002 Amortization of net loss (3,481) (1,430) (13,729) Total ($58,405) ($4,579) ($251,081) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($75,589) ($10,172) ($237,993) Total 2020, 2019, and 2018 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,626 $5,993 $1,468 $445 $1,219 $1,254 Interest cost on APBO 4,712 6,216 1,536 784 2,008 1,130 Expected return on assets (17,104) — (5,167) (5,382) (9,643) (2,958) Amortization of prior service credit (1,849) (6,179) (1,652) (763) (3,364) (1,065) Recognized net (gain)/ loss 540 (447) 171 (13) 907 121 Net other postretirement benefit (income)/cost ($10,075) $5,583 ($3,644) ($4,929) ($8,873) ($1,518) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service cost/(credit) for the period $12,320 ($23,508) ($4,428) ($5,493) ($22,441) ($1,963) Net (gain)/loss $2,245 $8,744 ($4,456) ($5,351) ($3,266) $58 Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 1,849 6,179 1,652 763 3,364 1,065 Amortization of net (gain)/loss (540) 447 (171) 13 (907) (121) Total $15,874 ($8,138) ($7,403) ($10,068) ($23,250) ($961) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) $5,799 ($2,555) ($11,047) ($14,997) ($32,123) ($2,479) 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962) — (4,794) (4,947) (9,103) (2,788) Amortization of prior service credit (4,950) (7,349) (1,756) (682) (2,243) (1,450) Recognized net (gain)/loss 576 (695) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747) $7,259 ($2,100) ($3,450) ($6,503) ($1,009) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707) ($2,220) ($11,950) ($10,967) ($6,406) ($5,539) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/ loss (576) 695 (723) (231) (485) (354) Total ($22,333) $5,824 ($10,917) ($10,516) ($4,648) ($4,443) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080) $13,083 ($13,017) ($13,966) ($11,151) ($5,452) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368) — (5,213) (5,250) (9,784) (3,130) Amortization of prior service credit (5,110) (7,735) (1,823) (745) (2,316) (1,513) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168) $11,194 ($1,513) ($3,673) ($6,204) ($490) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain (32,219) (73,249) (7,794) (981) (10,561) (6,680) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154) (1,550) (1,508) (137) (823) (932) Total ($28,263) ($67,064) ($7,479) ($373) ($9,068) ($6,099) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431) ($55,870) ($8,992) ($4,046) ($15,272) ($6,589) Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in APBO Balance at January 1 $1,252,903 $1,232,619 Service cost 24,500 18,699 Interest cost 28,597 47,901 Plan amendments (128,837) — Plan participant contributions 37,176 38,640 Actuarial loss 80,162 23,673 Benefits paid (113,786) (109,223) Medicare Part D subsidy received 360 594 Balance at December 31 $1,181,075 $1,252,903 Change in Plan Assets Fair value of assets at January 1 $686,262 $609,782 Actual return on plan assets 80,011 100,445 Employer contributions 48,203 46,618 Plan participant contributions 37,176 38,640 Benefits paid (113,786) (109,223) Fair value of assets at December 31 $737,866 $686,262 Funded status ($443,209) ($566,641) Amounts recognized in the balance sheet Current liabilities ($38,963) ($48,040) Non-current liabilities (404,246) (518,601) Total funded status ($443,209) ($566,641) Amounts recognized as a regulatory asset Prior service credit ($45,501) ($11,899) Net gain (8,565) (5,081) ($54,066) ($16,980) Amounts recognized as AOCI (before tax) Prior service credit ($83,581) ($21,231) Net (gain)/loss 24,365 (16,670) ($59,216) ($37,901) Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Service cost 3,626 5,993 1,468 445 1,219 1,254 Interest cost 4,712 6,216 1,536 784 2,008 1,130 Plan amendments 12,320 (23,508) (4,428) (5,493) (22,441) (1,963) Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Actuarial (gain)/loss 18,257 8,744 684 (91) 5,952 3,025 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Medicare Part D subsidy received 59 77 11 9 18 26 Balance at December 31 $209,369 $255,571 $61,990 $31,707 $74,233 $47,701 Change in Plan Assets Fair value of assets at January 1 $284,224 $— $86,085 $93,858 $161,810 $48,471 Actual return on plan assets 33,116 — 10,307 10,642 18,861 5,925 Employer contributions 2,201 16,126 343 641 690 1,342 Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Fair value of assets at December 31 $304,192 $— $93,475 $102,734 $174,096 $52,619 Funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in the balance sheet Current liabilities $— ($15,580) $— $— $— $— Non-current liabilities 94,823 (239,991) 31,485 71,027 99,863 4,918 Total funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in regulatory asset Prior service cost/(credit) $7,655 $— ($5,884) ($4,730) ($20,498) ($1,754) Net (gain)/loss (16,557) — (1,355) (13,385) 2,030 2,818 ($8,902) $— ($7,239) ($18,115) ($18,468) $1,064 Amounts recognized in AOCI (before tax) Prior service credit $— ($22,244) $— $— $— $— Net gain — (15,548) — — — — $— ($37,792) $— $— $— $— 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220) (3,778) (4,234) 8,279 (891) Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467) $— $— $— $— Non-current liabilities 98,480 (255,708) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515) $— ($3,108) $— ($1,422) ($854) Net (gain)/loss (18,262) — 3,272 (8,046) 6,203 2,881 ($24,777) $— $164 ($8,046) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915) $— $— $— $— Net gain — (24,739) — — — — $— ($29,654) $— $— $— $— The other postretirement plans incurred actuarial losses during 2020 primarily due to a reduction in the projected Employer Group Waiver Plan (EGWP) revenue and a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for 2020, an update to the latest mortality projection scale MP-2020, and favorable claims experience. The other postretirement plans experienced actuarial gains during 2019 primarily due to the actual return on assets exceeding the expected return on assets for 2019, favorable claims experience, an increase in projected EGWP revenue, and the adoption of the Pri.H-2012 mortality table with improvement scale MP-2019. These gains were partially offset by losses resulting from a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $18.1 million in 2020, $22.6 million in 2019, and $24.4 million in 2018. In 2019, and 2018 Entergy recognized $7.4 million and $7.7 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $182.4 million as of December 31, 2020 of which $22.9 million was a current liability and $159.5 million was a non-current liability. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The accumulated benefit obligation was $161.3 million and $143.4 million as of December 31, 2020 and 2019, respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ($77.3 million at December 31, 2020 and $58.8 million at December 31, 2019) and accumulated other comprehensive income before taxes ($16.7 million at December 31, 2020 and $24.9 million at December 31, 2019). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2020, 2019, and 2018, was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $333 $148 $359 $31 $469 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $3,197 $1,965 $3,852 $247 $8,475 2019 $2,755 $1,682 $3,286 $231 $7,783 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,626 $1,802 $3,345 $240 $7,949 2019 $2,248 $1,682 $2,938 $230 $7,391 The following amounts were recorded on the balance sheet as of December 31, 2020 and 2019: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy |
| Entergy Texas [Member] | |
| Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 but before January 1, 2021 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2020 2019 2018 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $161,487 $134,193 $155,010 Interest cost on projected benefit obligation 239,614 293,114 267,415 Expected return on assets (414,273) (414,947) (442,142) Amortization of prior service cost — — 398 Recognized net loss 350,010 241,117 274,104 Settlement charges 36,946 23,492 828 Net periodic pension costs $373,784 $276,969 $255,613 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $483,653 $614,600 $394,951 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — (398) Amortization of net loss (358,473) (241,117) (274,104) Settlement charge (36,946) (23,492) (828) Total $88,234 $349,991 $119,621 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $462,018 $626,960 $375,234 The Registrant Subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,329 $35,158 $8,060 $2,654 $6,116 $7,883 Interest cost on projected benefit obligation 44,165 50,432 12,922 5,825 10,731 11,006 Expected return on assets (78,187) (89,691) (23,147) (10,509) (21,951) (18,757) Recognized net loss 68,338 66,640 18,983 8,018 13,173 17,104 Settlement charges 21,078 8,109 3,366 — 4,289 105 Net pension cost $81,723 $70,648 $20,184 $5,988 $12,358 $17,341 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $106,178 $90,064 $36,899 $8,148 $13,379 $35,403 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (69,713) (68,248) (19,393) (8,213) (13,564) (17,434) Settlement charge (21,078) (8,109) (3,366) — (4,289) (105) Total $15,387 $13,707 $14,140 ($65) ($4,474) $17,864 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $97,110 $84,355 $34,324 $5,923 $7,884 $35,205 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705) (90,607) (23,873) (10,785) (23,447) (18,710) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361) (46,571) (12,416) (6,117) (9,335) (11,400) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404) (99,236) (26,007) (11,973) (26,091) (19,963) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650) (57,800) (14,438) (7,816) (10,503) (14,859) Total $20,920 ($16,158) $4,806 ($5,465) $13,618 ($17,218) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313) Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $8,406,203 $7,404,917 Service cost 161,487 134,193 Interest cost 239,614 293,114 Actuarial loss 969,609 1,292,767 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Balance at December 31 $9,143,652 $8,406,203 Change in Plan Assets Fair value of assets at January 1 $6,271,160 $5,497,415 Actual return on plan assets 900,229 1,093,114 Employer contributions 316,298 399,419 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Fair value of assets at December 31 $6,854,426 $6,271,160 Funded status ($2,289,226) ($2,135,043) Amount recognized in the balance sheet Non-current liabilities ($2,289,226) ($2,135,043) Amount recognized as a regulatory asset Net loss $2,926,670 $2,831,408 Amount recognized as AOCI (before tax) Net loss $726,010 $724,575 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Service cost 26,329 35,158 8,060 2,654 6,116 7,883 Interest cost 44,165 50,432 12,922 5,825 10,731 11,006 Actuarial loss 196,755 196,032 62,564 20,535 37,579 57,574 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Balance at December 31 $1,739,382 $1,927,271 $510,109 $220,287 $410,664 $441,148 Change in Plan Assets Fair value of assets at $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Actual return on plan assets 168,764 195,658 48,812 22,896 46,151 40,927 Employer contributions 60,008 55,443 12,601 4,567 4,997 16,145 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Fair value of assets at December 31 $1,285,856 $1,476,306 $371,394 $172,551 $349,748 $310,818 Funded status ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized as regulatory asset Net loss $816,002 $766,099 $239,904 $91,991 $156,480 $212,062 Amounts recognized as AOCI (before tax) Net loss $— $31,921 $— $— $— $— (a) Including settlement lump sum benefit payments of ($48.4) million at Entergy Arkansas, ($18.6) million at Entergy Louisiana, ($7.7) million at Entergy Mississippi, ($9.8) million at Entergy Texas, and ($236) thousand at System Energy. 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— The qualified pension plans incurred actuarial losses during 2020 and 2019 primarily due to a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for both 2020 and 2019. Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $8.4 billion and $7.8 billion at December 31, 2020 and 2019, respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2020 and 2019 was as follows: December 31, 2020 2019 (In Thousands) Entergy Arkansas $1,617,858 $1,519,998 Entergy Louisiana $1,753,980 $1,643,759 Entergy Mississippi $466,497 $438,817 Entergy New Orleans $201,159 $192,561 Entergy Texas $379,050 $371,589 System Energy $410,296 $368,771 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. In March 2020, Entergy announced changes to its other postretirement benefits. Effective January 1, 2021, certain retired, former non-bargaining employees age 65 and older who are eligible for Entergy-sponsored retiree welfare benefits, and their eligible spouses who are age 65 and older (collectively, Medicare-eligible participants), will be eligible to participate in a new Entergy-sponsored retiree health plan, and will no longer be eligible for retiree coverage under the Entergy Corporation Companies’ Benefits Plus Medical, Dental and Vision Plans. Under the new Entergy retiree health plan, Medicare-eligible participants will be eligible to participate in a health reimbursement arrangement which they may use towards the purchase of various types of qualified insurance offered through a Medicare exchange provider and for other qualified medical expenses. In accordance with accounting standards, the effects of this change are reflected in the December 31, 2020 other postretirement obligation. The changes affecting active bargaining unit employees will be negotiated with the unions prior to implementation, where necessary, and to the extent required by law. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2020, 2019, and 2018 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2020 2019 2018 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $24,500 $18,699 $27,129 Interest cost on accumulated postretirement benefit obligation (APBO) 28,597 47,901 50,725 Expected return on assets (40,880) (38,246) (41,493) Amortization of prior service credit (32,882) (35,377) (37,002) Recognized net loss 3,481 1,430 13,729 Net other postretirement benefit (income)/cost ($17,184) ($5,593) $13,088 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($128,837) $— $— Net (gain)/loss 41,031 (38,526) (274,354) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 32,882 35,377 37,002 Amortization of net loss (3,481) (1,430) (13,729) Total ($58,405) ($4,579) ($251,081) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($75,589) ($10,172) ($237,993) Total 2020, 2019, and 2018 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,626 $5,993 $1,468 $445 $1,219 $1,254 Interest cost on APBO 4,712 6,216 1,536 784 2,008 1,130 Expected return on assets (17,104) — (5,167) (5,382) (9,643) (2,958) Amortization of prior service credit (1,849) (6,179) (1,652) (763) (3,364) (1,065) Recognized net (gain)/ loss 540 (447) 171 (13) 907 121 Net other postretirement benefit (income)/cost ($10,075) $5,583 ($3,644) ($4,929) ($8,873) ($1,518) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service cost/(credit) for the period $12,320 ($23,508) ($4,428) ($5,493) ($22,441) ($1,963) Net (gain)/loss $2,245 $8,744 ($4,456) ($5,351) ($3,266) $58 Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 1,849 6,179 1,652 763 3,364 1,065 Amortization of net (gain)/loss (540) 447 (171) 13 (907) (121) Total $15,874 ($8,138) ($7,403) ($10,068) ($23,250) ($961) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) $5,799 ($2,555) ($11,047) ($14,997) ($32,123) ($2,479) 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962) — (4,794) (4,947) (9,103) (2,788) Amortization of prior service credit (4,950) (7,349) (1,756) (682) (2,243) (1,450) Recognized net (gain)/loss 576 (695) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747) $7,259 ($2,100) ($3,450) ($6,503) ($1,009) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707) ($2,220) ($11,950) ($10,967) ($6,406) ($5,539) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/ loss (576) 695 (723) (231) (485) (354) Total ($22,333) $5,824 ($10,917) ($10,516) ($4,648) ($4,443) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080) $13,083 ($13,017) ($13,966) ($11,151) ($5,452) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368) — (5,213) (5,250) (9,784) (3,130) Amortization of prior service credit (5,110) (7,735) (1,823) (745) (2,316) (1,513) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168) $11,194 ($1,513) ($3,673) ($6,204) ($490) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain (32,219) (73,249) (7,794) (981) (10,561) (6,680) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154) (1,550) (1,508) (137) (823) (932) Total ($28,263) ($67,064) ($7,479) ($373) ($9,068) ($6,099) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431) ($55,870) ($8,992) ($4,046) ($15,272) ($6,589) Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in APBO Balance at January 1 $1,252,903 $1,232,619 Service cost 24,500 18,699 Interest cost 28,597 47,901 Plan amendments (128,837) — Plan participant contributions 37,176 38,640 Actuarial loss 80,162 23,673 Benefits paid (113,786) (109,223) Medicare Part D subsidy received 360 594 Balance at December 31 $1,181,075 $1,252,903 Change in Plan Assets Fair value of assets at January 1 $686,262 $609,782 Actual return on plan assets 80,011 100,445 Employer contributions 48,203 46,618 Plan participant contributions 37,176 38,640 Benefits paid (113,786) (109,223) Fair value of assets at December 31 $737,866 $686,262 Funded status ($443,209) ($566,641) Amounts recognized in the balance sheet Current liabilities ($38,963) ($48,040) Non-current liabilities (404,246) (518,601) Total funded status ($443,209) ($566,641) Amounts recognized as a regulatory asset Prior service credit ($45,501) ($11,899) Net gain (8,565) (5,081) ($54,066) ($16,980) Amounts recognized as AOCI (before tax) Prior service credit ($83,581) ($21,231) Net (gain)/loss 24,365 (16,670) ($59,216) ($37,901) Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Service cost 3,626 5,993 1,468 445 1,219 1,254 Interest cost 4,712 6,216 1,536 784 2,008 1,130 Plan amendments 12,320 (23,508) (4,428) (5,493) (22,441) (1,963) Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Actuarial (gain)/loss 18,257 8,744 684 (91) 5,952 3,025 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Medicare Part D subsidy received 59 77 11 9 18 26 Balance at December 31 $209,369 $255,571 $61,990 $31,707 $74,233 $47,701 Change in Plan Assets Fair value of assets at January 1 $284,224 $— $86,085 $93,858 $161,810 $48,471 Actual return on plan assets 33,116 — 10,307 10,642 18,861 5,925 Employer contributions 2,201 16,126 343 641 690 1,342 Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Fair value of assets at December 31 $304,192 $— $93,475 $102,734 $174,096 $52,619 Funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in the balance sheet Current liabilities $— ($15,580) $— $— $— $— Non-current liabilities 94,823 (239,991) 31,485 71,027 99,863 4,918 Total funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in regulatory asset Prior service cost/(credit) $7,655 $— ($5,884) ($4,730) ($20,498) ($1,754) Net (gain)/loss (16,557) — (1,355) (13,385) 2,030 2,818 ($8,902) $— ($7,239) ($18,115) ($18,468) $1,064 Amounts recognized in AOCI (before tax) Prior service credit $— ($22,244) $— $— $— $— Net gain — (15,548) — — — — $— ($37,792) $— $— $— $— 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220) (3,778) (4,234) 8,279 (891) Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467) $— $— $— $— Non-current liabilities 98,480 (255,708) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515) $— ($3,108) $— ($1,422) ($854) Net (gain)/loss (18,262) — 3,272 (8,046) 6,203 2,881 ($24,777) $— $164 ($8,046) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915) $— $— $— $— Net gain — (24,739) — — — — $— ($29,654) $— $— $— $— The other postretirement plans incurred actuarial losses during 2020 primarily due to a reduction in the projected Employer Group Waiver Plan (EGWP) revenue and a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for 2020, an update to the latest mortality projection scale MP-2020, and favorable claims experience. The other postretirement plans experienced actuarial gains during 2019 primarily due to the actual return on assets exceeding the expected return on assets for 2019, favorable claims experience, an increase in projected EGWP revenue, and the adoption of the Pri.H-2012 mortality table with improvement scale MP-2019. These gains were partially offset by losses resulting from a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $18.1 million in 2020, $22.6 million in 2019, and $24.4 million in 2018. In 2019, and 2018 Entergy recognized $7.4 million and $7.7 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $182.4 million as of December 31, 2020 of which $22.9 million was a current liability and $159.5 million was a non-current liability. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The accumulated benefit obligation was $161.3 million and $143.4 million as of December 31, 2020 and 2019, respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ($77.3 million at December 31, 2020 and $58.8 million at December 31, 2019) and accumulated other comprehensive income before taxes ($16.7 million at December 31, 2020 and $24.9 million at December 31, 2019). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2020, 2019, and 2018, was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $333 $148 $359 $31 $469 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $3,197 $1,965 $3,852 $247 $8,475 2019 $2,755 $1,682 $3,286 $231 $7,783 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,626 $1,802 $3,345 $240 $7,949 2019 $2,248 $1,682 $2,938 $230 $7,391 The following amounts were recorded on the balance sheet as of December 31, 2020 and 2019: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy |
| System Energy [Member] | |
| Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 but before January 1, 2021 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2020 2019 2018 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $161,487 $134,193 $155,010 Interest cost on projected benefit obligation 239,614 293,114 267,415 Expected return on assets (414,273) (414,947) (442,142) Amortization of prior service cost — — 398 Recognized net loss 350,010 241,117 274,104 Settlement charges 36,946 23,492 828 Net periodic pension costs $373,784 $276,969 $255,613 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $483,653 $614,600 $394,951 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — (398) Amortization of net loss (358,473) (241,117) (274,104) Settlement charge (36,946) (23,492) (828) Total $88,234 $349,991 $119,621 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $462,018 $626,960 $375,234 The Registrant Subsidiaries’ total 2020, 2019, and 2018 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,329 $35,158 $8,060 $2,654 $6,116 $7,883 Interest cost on projected benefit obligation 44,165 50,432 12,922 5,825 10,731 11,006 Expected return on assets (78,187) (89,691) (23,147) (10,509) (21,951) (18,757) Recognized net loss 68,338 66,640 18,983 8,018 13,173 17,104 Settlement charges 21,078 8,109 3,366 — 4,289 105 Net pension cost $81,723 $70,648 $20,184 $5,988 $12,358 $17,341 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $106,178 $90,064 $36,899 $8,148 $13,379 $35,403 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (69,713) (68,248) (19,393) (8,213) (13,564) (17,434) Settlement charge (21,078) (8,109) (3,366) — (4,289) (105) Total $15,387 $13,707 $14,140 ($65) ($4,474) $17,864 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $97,110 $84,355 $34,324 $5,923 $7,884 $35,205 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705) (90,607) (23,873) (10,785) (23,447) (18,710) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361) (46,571) (12,416) (6,117) (9,335) (11,400) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404) (99,236) (26,007) (11,973) (26,091) (19,963) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650) (57,800) (14,438) (7,816) (10,503) (14,859) Total $20,920 ($16,158) $4,806 ($5,465) $13,618 ($17,218) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313) Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $8,406,203 $7,404,917 Service cost 161,487 134,193 Interest cost 239,614 293,114 Actuarial loss 969,609 1,292,767 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Balance at December 31 $9,143,652 $8,406,203 Change in Plan Assets Fair value of assets at January 1 $6,271,160 $5,497,415 Actual return on plan assets 900,229 1,093,114 Employer contributions 316,298 399,419 Benefits paid (including settlement lump sum benefit payments of ($84,754) in 2020 and ($68,203) in 2019) (633,261) (718,788) Fair value of assets at December 31 $6,854,426 $6,271,160 Funded status ($2,289,226) ($2,135,043) Amount recognized in the balance sheet Non-current liabilities ($2,289,226) ($2,135,043) Amount recognized as a regulatory asset Net loss $2,926,670 $2,831,408 Amount recognized as AOCI (before tax) Net loss $726,010 $724,575 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Service cost 26,329 35,158 8,060 2,654 6,116 7,883 Interest cost 44,165 50,432 12,922 5,825 10,731 11,006 Actuarial loss 196,755 196,032 62,564 20,535 37,579 57,574 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Balance at December 31 $1,739,382 $1,927,271 $510,109 $220,287 $410,664 $441,148 Change in Plan Assets Fair value of assets at $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Actual return on plan assets 168,764 195,658 48,812 22,896 46,151 40,927 Employer contributions 60,008 55,443 12,601 4,567 4,997 16,145 Benefits paid (a) (142,951) (138,825) (44,947) (15,689) (40,526) (28,922) Fair value of assets at December 31 $1,285,856 $1,476,306 $371,394 $172,551 $349,748 $310,818 Funded status ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($453,526) ($450,965) ($138,715) ($47,736) ($60,916) ($130,330) Amounts recognized as regulatory asset Net loss $816,002 $766,099 $239,904 $91,991 $156,480 $212,062 Amounts recognized as AOCI (before tax) Net loss $— $31,921 $— $— $— $— (a) Including settlement lump sum benefit payments of ($48.4) million at Entergy Arkansas, ($18.6) million at Entergy Louisiana, ($7.7) million at Entergy Mississippi, ($9.8) million at Entergy Texas, and ($236) thousand at System Energy. 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681) (156,617) (44,820) (18,296) (41,927) (31,542) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049) ($420,444) ($116,582) ($46,185) ($57,638) ($110,939) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— The qualified pension plans incurred actuarial losses during 2020 and 2019 primarily due to a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for both 2020 and 2019. Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $8.4 billion and $7.8 billion at December 31, 2020 and 2019, respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2020 and 2019 was as follows: December 31, 2020 2019 (In Thousands) Entergy Arkansas $1,617,858 $1,519,998 Entergy Louisiana $1,753,980 $1,643,759 Entergy Mississippi $466,497 $438,817 Entergy New Orleans $201,159 $192,561 Entergy Texas $379,050 $371,589 System Energy $410,296 $368,771 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. In March 2020, Entergy announced changes to its other postretirement benefits. Effective January 1, 2021, certain retired, former non-bargaining employees age 65 and older who are eligible for Entergy-sponsored retiree welfare benefits, and their eligible spouses who are age 65 and older (collectively, Medicare-eligible participants), will be eligible to participate in a new Entergy-sponsored retiree health plan, and will no longer be eligible for retiree coverage under the Entergy Corporation Companies’ Benefits Plus Medical, Dental and Vision Plans. Under the new Entergy retiree health plan, Medicare-eligible participants will be eligible to participate in a health reimbursement arrangement which they may use towards the purchase of various types of qualified insurance offered through a Medicare exchange provider and for other qualified medical expenses. In accordance with accounting standards, the effects of this change are reflected in the December 31, 2020 other postretirement obligation. The changes affecting active bargaining unit employees will be negotiated with the unions prior to implementation, where necessary, and to the extent required by law. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2020, 2019, and 2018 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2020 2019 2018 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $24,500 $18,699 $27,129 Interest cost on accumulated postretirement benefit obligation (APBO) 28,597 47,901 50,725 Expected return on assets (40,880) (38,246) (41,493) Amortization of prior service credit (32,882) (35,377) (37,002) Recognized net loss 3,481 1,430 13,729 Net other postretirement benefit (income)/cost ($17,184) ($5,593) $13,088 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($128,837) $— $— Net (gain)/loss 41,031 (38,526) (274,354) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 32,882 35,377 37,002 Amortization of net loss (3,481) (1,430) (13,729) Total ($58,405) ($4,579) ($251,081) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($75,589) ($10,172) ($237,993) Total 2020, 2019, and 2018 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,626 $5,993 $1,468 $445 $1,219 $1,254 Interest cost on APBO 4,712 6,216 1,536 784 2,008 1,130 Expected return on assets (17,104) — (5,167) (5,382) (9,643) (2,958) Amortization of prior service credit (1,849) (6,179) (1,652) (763) (3,364) (1,065) Recognized net (gain)/ loss 540 (447) 171 (13) 907 121 Net other postretirement benefit (income)/cost ($10,075) $5,583 ($3,644) ($4,929) ($8,873) ($1,518) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service cost/(credit) for the period $12,320 ($23,508) ($4,428) ($5,493) ($22,441) ($1,963) Net (gain)/loss $2,245 $8,744 ($4,456) ($5,351) ($3,266) $58 Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 1,849 6,179 1,652 763 3,364 1,065 Amortization of net (gain)/loss (540) 447 (171) 13 (907) (121) Total $15,874 ($8,138) ($7,403) ($10,068) ($23,250) ($961) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) $5,799 ($2,555) ($11,047) ($14,997) ($32,123) ($2,479) 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962) — (4,794) (4,947) (9,103) (2,788) Amortization of prior service credit (4,950) (7,349) (1,756) (682) (2,243) (1,450) Recognized net (gain)/loss 576 (695) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747) $7,259 ($2,100) ($3,450) ($6,503) ($1,009) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707) ($2,220) ($11,950) ($10,967) ($6,406) ($5,539) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/ loss (576) 695 (723) (231) (485) (354) Total ($22,333) $5,824 ($10,917) ($10,516) ($4,648) ($4,443) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080) $13,083 ($13,017) ($13,966) ($11,151) ($5,452) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368) — (5,213) (5,250) (9,784) (3,130) Amortization of prior service credit (5,110) (7,735) (1,823) (745) (2,316) (1,513) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168) $11,194 ($1,513) ($3,673) ($6,204) ($490) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain (32,219) (73,249) (7,794) (981) (10,561) (6,680) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154) (1,550) (1,508) (137) (823) (932) Total ($28,263) ($67,064) ($7,479) ($373) ($9,068) ($6,099) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431) ($55,870) ($8,992) ($4,046) ($15,272) ($6,589) Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 2019 (In Thousands) Change in APBO Balance at January 1 $1,252,903 $1,232,619 Service cost 24,500 18,699 Interest cost 28,597 47,901 Plan amendments (128,837) — Plan participant contributions 37,176 38,640 Actuarial loss 80,162 23,673 Benefits paid (113,786) (109,223) Medicare Part D subsidy received 360 594 Balance at December 31 $1,181,075 $1,252,903 Change in Plan Assets Fair value of assets at January 1 $686,262 $609,782 Actual return on plan assets 80,011 100,445 Employer contributions 48,203 46,618 Plan participant contributions 37,176 38,640 Benefits paid (113,786) (109,223) Fair value of assets at December 31 $737,866 $686,262 Funded status ($443,209) ($566,641) Amounts recognized in the balance sheet Current liabilities ($38,963) ($48,040) Non-current liabilities (404,246) (518,601) Total funded status ($443,209) ($566,641) Amounts recognized as a regulatory asset Prior service credit ($45,501) ($11,899) Net gain (8,565) (5,081) ($54,066) ($16,980) Amounts recognized as AOCI (before tax) Prior service credit ($83,581) ($21,231) Net (gain)/loss 24,365 (16,670) ($59,216) ($37,901) Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Service cost 3,626 5,993 1,468 445 1,219 1,254 Interest cost 4,712 6,216 1,536 784 2,008 1,130 Plan amendments 12,320 (23,508) (4,428) (5,493) (22,441) (1,963) Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Actuarial (gain)/loss 18,257 8,744 684 (91) 5,952 3,025 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Medicare Part D subsidy received 59 77 11 9 18 26 Balance at December 31 $209,369 $255,571 $61,990 $31,707 $74,233 $47,701 Change in Plan Assets Fair value of assets at January 1 $284,224 $— $86,085 $93,858 $161,810 $48,471 Actual return on plan assets 33,116 — 10,307 10,642 18,861 5,925 Employer contributions 2,201 16,126 343 641 690 1,342 Plan participant contributions 7,792 8,269 2,122 1,123 2,456 1,732 Benefits paid (23,141) (24,395) (5,382) (3,530) (9,721) (4,851) Fair value of assets at December 31 $304,192 $— $93,475 $102,734 $174,096 $52,619 Funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in the balance sheet Current liabilities $— ($15,580) $— $— $— $— Non-current liabilities 94,823 (239,991) 31,485 71,027 99,863 4,918 Total funded status $94,823 ($255,571) $31,485 $71,027 $99,863 $4,918 Amounts recognized in regulatory asset Prior service cost/(credit) $7,655 $— ($5,884) ($4,730) ($20,498) ($1,754) Net (gain)/loss (16,557) — (1,355) (13,385) 2,030 2,818 ($8,902) $— ($7,239) ($18,115) ($18,468) $1,064 Amounts recognized in AOCI (before tax) Prior service credit $— ($22,244) $— $— $— $— Net gain — (15,548) — — — — $— ($37,792) $— $— $— $— 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220) (3,778) (4,234) 8,279 (891) Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048) (23,160) (5,159) (2,598) (8,830) (5,229) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467) $— $— $— $— Non-current liabilities 98,480 (255,708) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515) $— ($3,108) $— ($1,422) ($854) Net (gain)/loss (18,262) — 3,272 (8,046) 6,203 2,881 ($24,777) $— $164 ($8,046) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915) $— $— $— $— Net gain — (24,739) — — — — $— ($29,654) $— $— $— $— The other postretirement plans incurred actuarial losses during 2020 primarily due to a reduction in the projected Employer Group Waiver Plan (EGWP) revenue and a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. These losses were partially offset by gains resulting from the actual return on assets exceeding the expected return on assets for 2020, an update to the latest mortality projection scale MP-2020, and favorable claims experience. The other postretirement plans experienced actuarial gains during 2019 primarily due to the actual return on assets exceeding the expected return on assets for 2019, favorable claims experience, an increase in projected EGWP revenue, and the adoption of the Pri.H-2012 mortality table with improvement scale MP-2019. These gains were partially offset by losses resulting from a fall in bond yields that resulted in decreases to the discount rates used to develop the benefit obligations. Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $18.1 million in 2020, $22.6 million in 2019, and $24.4 million in 2018. In 2019, and 2018 Entergy recognized $7.4 million and $7.7 million, respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $182.4 million as of December 31, 2020 of which $22.9 million was a current liability and $159.5 million was a non-current liability. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The accumulated benefit obligation was $161.3 million and $143.4 million as of December 31, 2020 and 2019, respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ($77.3 million at December 31, 2020 and $58.8 million at December 31, 2019) and accumulated other comprehensive income before taxes ($16.7 million at December 31, 2020 and $24.9 million at December 31, 2019). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2020, 2019, and 2018, was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $333 $148 $359 $31 $469 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $3,197 $1,965 $3,852 $247 $8,475 2019 $2,755 $1,682 $3,286 $231 $7,783 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2020 and 2019 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,626 $1,802 $3,345 $240 $7,949 2019 $2,248 $1,682 $2,938 $230 $7,391 The following amounts were recorded on the balance sheet as of December 31, 2020 and 2019: 2020 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy |
