Retirement And Other Postretirement Benefits | 6 Months Ended |
Jun. 30, 2022 |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $36,977 $42,951 Interest cost on projected benefit obligation 52,676 47,382 Expected return on assets (103,085) (106,039) Amortization of net loss 56,413 92,799 Settlement charges 22,653 111,549 Net pension costs $65,634 $188,642 Entergy’s qualified pension costs, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $74,637 $88,191 Interest cost on projected benefit obligation 103,795 93,480 Expected return on assets (206,692) (211,753) Amortization of net loss 116,992 197,190 Settlement charges 22,653 111,549 Net pension costs $111,385 $278,657 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,699 $9,007 $2,075 $752 $1,579 $2,001 Interest cost on projected benefit obligation 9,761 10,684 2,796 1,139 2,272 2,394 Expected return on assets (19,031) (21,060) (5,164) (2,515) (4,905) (4,586) Amortization of net loss 12,848 12,302 3,620 1,368 2,439 3,171 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $21,773 $15,394 $5,535 $744 $3,851 $5,003 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $7,255 $9,759 $2,304 $774 $1,757 $2,253 Interest cost on projected benefit obligation 8,752 9,864 2,571 1,079 2,052 2,236 Expected return on assets (19,640) (22,516) (5,600) (2,641) (5,272) (4,804) Amortization of net loss 18,250 17,890 5,309 2,069 3,415 4,933 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $39,003 $49,989 $12,346 $4,866 $8,578 $9,256 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,557 $18,144 $4,205 $1,504 $3,211 $4,046 Interest cost on projected benefit obligation 19,078 21,183 5,474 2,278 4,447 4,732 Expected return on assets (38,278) (42,193) (10,367) (5,030) (9,842) (9,209) Amortization of net loss 26,274 24,899 7,430 2,736 4,994 6,437 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $32,127 $26,494 $8,950 $1,488 $5,276 $8,029 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $14,674 $19,803 $4,668 $1,569 $3,557 $4,566 Interest cost on projected benefit obligation 17,092 19,425 5,034 2,108 4,002 4,378 Expected return on assets (39,311) (45,055) (11,186) (5,263) (10,510) (9,583) Amortization of net loss 37,552 37,093 10,976 4,340 7,126 10,258 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $54,393 $66,258 $17,254 $6,339 $10,801 $14,257 Non-Qualified Net Pension Cost Entergy recognized $7.2 million and $4.6 million in pension cost for its non-qualified pension plans in the second quarters of 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans in the second quarter of 2022 were settlement charges of $2.5 million related to the payment of lump sum benefits out of the plan. In the second quarter of 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. Entergy recognized $17.4 million and $9.2 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans for the six months ended June 30, 2022 were settlement charges of $7.8 million related to the payment of lump sum benefits out of the plan. For the six months ended June 30, 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the second quarters of 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $71 $26 $79 $27 $88 2021 $90 $44 $96 $8 $115 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the six months ended June 30, 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $143 $53 $161 $56 $303 2021 $180 $88 $192 $16 $230 Reflected in Entergy Mississippi’s non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $2 thousand related to the payment of lump sum benefits out of the plan. Entergy Texas’ non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $119 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit income, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $6,184 $6,645 Interest cost on accumulated postretirement benefit obligation (APBO) 6,827 5,320 Expected return on assets (10,855) (10,805) Amortization of prior service credit (6,388) (8,267) Amortization of net loss 1,083 713 Net other postretirement benefit income ($3,149) ($6,394) Entergy’s other postretirement benefit income, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $12,368 $13,290 Interest cost on accumulated postretirement benefit obligation (APBO) 13,654 10,640 Expected return on assets (21,710) (21,610) Amortization of prior service credit (12,776) (16,534) Amortization of net loss 2,166 1,426 Net other postretirement benefit income ($6,298) ($12,788) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost/(credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefit cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,034 $1,544 $362 $109 $346 $335 Interest cost on APBO 932 1,130 278 130 317 220 Expected return on assets (4,505) — (1,384) (1,438) (2,548) (789) Amortization of prior service credit (280) (1,230) (444) (229) (936) (109) Amortization of net (gain) loss 49 (91) 19 (178) 100 15 Net other postretirement benefit cost (income) ($2,770) $1,353 ($1,169) ($1,606) ($2,721) ($328) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,228 $2,816 $678 $198 $662 $620 Interest cost on APBO 2,526 2,886 700 348 798 558 Expected return on assets (8,966) — (2,788) (2,998) (5,136) (1,582) Amortization of prior service cost/(credit) 942 (2,316) (886) (458) (2,186) (160) Amortization of net (gain) loss 436 (372) 112 (450) 324 60 Net other postretirement benefit cost (income) ($2,834) $3,014 ($2,184) ($3,360) ($5,538) ($504) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,068 $3,088 $724 $218 $692 $670 Interest cost on APBO 1,864 2,260 556 260 634 440 Expected return on assets (9,010) — (2,768) (2,876) (5,096) (1,578) Amortization of prior service credit (560) (2,460) (888) (458) (1,872) (218) Amortization of net (gain) loss 98 (182) 38 (356) 200 30 Net other postretirement benefit cost (income) ($5,540) $2,706 ($2,338) ($3,212) ($5,442) ($656) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the second quarters of 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (10,035) (596) (348) (10,979) Settlement loss (178) — (367) (545) ($10,213) $3,418 ($892) ($7,687) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (493) 186 (1) (308) Settlement loss (178) — — ($178) ($671) $1,344 ($1) $672 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,288 ($40) $5,248 Amortization of net loss (26,443) (496) (595) (27,534) Settlement loss (6,043) — — (6,043) ($32,486) $4,792 ($635) ($28,329) Entergy Louisiana Amortization of prior service credit $— $1,230 $— $1,230 Amortization of net gain (loss) (716) 91 (1) (626) Settlement loss (1,400) — — (1,400) ($2,116) $1,321 ($1) ($796) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the six months ended June 30, 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $8,028 ($354) $7,674 Amortization of net loss (22,945) (1,192) (767) (24,904) Settlement loss (178) — (1,149) (1,327) ($23,123) $6,836 ($2,270) ($18,557) Entergy Louisiana Amortization of prior service credit $— $2,316 $— $2,316 Amortization of net gain (loss) (997) 372 (2) (627) Settlement loss (178) — — (178) ($1,175) $2,688 ($2) $1,511 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,576 ($80) $10,496 Amortization of net loss (59,883) (990) (1,190) (62,063) Settlement loss (6,043) — — (6,043) ($65,926) $9,586 ($1,270) ($57,610) Entergy Louisiana Amortization of prior service credit $— $2,460 $— $2,460 Amortization of net gain (loss) (1,484) 182 (3) (1,305) Settlement loss (1,400) — — (1,400) ($2,884) $2,642 ($3) ($245) Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Cost Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees exceeded the sum of the Plan’s 2022 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy each participate in the Entergy Corporation Retirement Plan for Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, and Entergy Mississippi each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, for the difference between the amount recorded for pension and other postretirement benefits expense under generally accepted accounting principles during 2019, the first year that rates from Entergy Texas’s last general rate proceeding were in effect, and the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amount will be evaluated in the base rate case that was filed with the PUCT in July 2022 and a reasonable amortization period will be determined by the PUCT. At June 30, 2022, the balance in this reserve was approximately $15.7 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $200 million to its qualified pension plans in 2022. As of June 30, 2022, Entergy had contributed $101 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2022: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2022 pension contributions $40,840 $22,917 $12,852 $922 $1,924 $12,760 Pension contributions made through June 2022 $21,532 $13,410 $5,442 $922 $1,486 $6,187 Remaining estimated pension contributions to be made in 2022 $19,308 $9,507 $7,410 $— $438 $6,573 |
Entergy Arkansas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $36,977 $42,951 Interest cost on projected benefit obligation 52,676 47,382 Expected return on assets (103,085) (106,039) Amortization of net loss 56,413 92,799 Settlement charges 22,653 111,549 Net pension costs $65,634 $188,642 Entergy’s qualified pension costs, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $74,637 $88,191 Interest cost on projected benefit obligation 103,795 93,480 Expected return on assets (206,692) (211,753) Amortization of net loss 116,992 197,190 Settlement charges 22,653 111,549 Net pension costs $111,385 $278,657 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,699 $9,007 $2,075 $752 $1,579 $2,001 Interest cost on projected benefit obligation 9,761 10,684 2,796 1,139 2,272 2,394 Expected return on assets (19,031) (21,060) (5,164) (2,515) (4,905) (4,586) Amortization of net loss 12,848 12,302 3,620 1,368 2,439 3,171 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $21,773 $15,394 $5,535 $744 $3,851 $5,003 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $7,255 $9,759 $2,304 $774 $1,757 $2,253 Interest cost on projected benefit obligation 8,752 9,864 2,571 1,079 2,052 2,236 Expected return on assets (19,640) (22,516) (5,600) (2,641) (5,272) (4,804) Amortization of net loss 18,250 17,890 5,309 2,069 3,415 4,933 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $39,003 $49,989 $12,346 $4,866 $8,578 $9,256 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,557 $18,144 $4,205 $1,504 $3,211 $4,046 Interest cost on projected benefit obligation 19,078 21,183 5,474 2,278 4,447 4,732 Expected return on assets (38,278) (42,193) (10,367) (5,030) (9,842) (9,209) Amortization of net loss 26,274 24,899 7,430 2,736 4,994 6,437 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $32,127 $26,494 $8,950 $1,488 $5,276 $8,029 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $14,674 $19,803 $4,668 $1,569 $3,557 $4,566 Interest cost on projected benefit obligation 17,092 19,425 5,034 2,108 4,002 4,378 Expected return on assets (39,311) (45,055) (11,186) (5,263) (10,510) (9,583) Amortization of net loss 37,552 37,093 10,976 4,340 7,126 10,258 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $54,393 $66,258 $17,254 $6,339 $10,801 $14,257 Non-Qualified Net Pension Cost Entergy recognized $7.2 million and $4.6 million in pension cost for its non-qualified pension plans in the second quarters of 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans in the second quarter of 2022 were settlement charges of $2.5 million related to the payment of lump sum benefits out of the plan. In the second quarter of 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. Entergy recognized $17.4 million and $9.2 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans for the six months ended June 30, 2022 were settlement charges of $7.8 million related to the payment of lump sum benefits out of the plan. For the six months ended June 30, 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the second quarters of 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $71 $26 $79 $27 $88 2021 $90 $44 $96 $8 $115 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the six months ended June 30, 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $143 $53 $161 $56 $303 2021 $180 $88 $192 $16 $230 Reflected in Entergy Mississippi’s non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $2 thousand related to the payment of lump sum benefits out of the plan. Entergy Texas’ non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $119 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit income, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $6,184 $6,645 Interest cost on accumulated postretirement benefit obligation (APBO) 6,827 5,320 Expected return on assets (10,855) (10,805) Amortization of prior service credit (6,388) (8,267) Amortization of net loss 1,083 713 Net other postretirement benefit income ($3,149) ($6,394) Entergy’s other postretirement benefit income, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $12,368 $13,290 Interest cost on accumulated postretirement benefit obligation (APBO) 13,654 10,640 Expected return on assets (21,710) (21,610) Amortization of prior service credit (12,776) (16,534) Amortization of net loss 2,166 1,426 Net other postretirement benefit income ($6,298) ($12,788) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost/(credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefit cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,034 $1,544 $362 $109 $346 $335 Interest cost on APBO 932 1,130 278 130 317 220 Expected return on assets (4,505) — (1,384) (1,438) (2,548) (789) Amortization of prior service credit (280) (1,230) (444) (229) (936) (109) Amortization of net (gain) loss 49 (91) 19 (178) 100 15 Net other postretirement benefit cost (income) ($2,770) $1,353 ($1,169) ($1,606) ($2,721) ($328) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,228 $2,816 $678 $198 $662 $620 Interest cost on APBO 2,526 2,886 700 348 798 558 Expected return on assets (8,966) — (2,788) (2,998) (5,136) (1,582) Amortization of prior service cost/(credit) 942 (2,316) (886) (458) (2,186) (160) Amortization of net (gain) loss 436 (372) 112 (450) 324 60 Net other postretirement benefit cost (income) ($2,834) $3,014 ($2,184) ($3,360) ($5,538) ($504) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,068 $3,088 $724 $218 $692 $670 Interest cost on APBO 1,864 2,260 556 260 634 440 Expected return on assets (9,010) — (2,768) (2,876) (5,096) (1,578) Amortization of prior service credit (560) (2,460) (888) (458) (1,872) (218) Amortization of net (gain) loss 98 (182) 38 (356) 200 30 Net other postretirement benefit cost (income) ($5,540) $2,706 ($2,338) ($3,212) ($5,442) ($656) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the second quarters of 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (10,035) (596) (348) (10,979) Settlement loss (178) — (367) (545) ($10,213) $3,418 ($892) ($7,687) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (493) 186 (1) (308) Settlement loss (178) — — ($178) ($671) $1,344 ($1) $672 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,288 ($40) $5,248 Amortization of net loss (26,443) (496) (595) (27,534) Settlement loss (6,043) — — (6,043) ($32,486) $4,792 ($635) ($28,329) Entergy Louisiana Amortization of prior service credit $— $1,230 $— $1,230 Amortization of net gain (loss) (716) 91 (1) (626) Settlement loss (1,400) — — (1,400) ($2,116) $1,321 ($1) ($796) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the six months ended June 30, 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $8,028 ($354) $7,674 Amortization of net loss (22,945) (1,192) (767) (24,904) Settlement loss (178) — (1,149) (1,327) ($23,123) $6,836 ($2,270) ($18,557) Entergy Louisiana Amortization of prior service credit $— $2,316 $— $2,316 Amortization of net gain (loss) (997) 372 (2) (627) Settlement loss (178) — — (178) ($1,175) $2,688 ($2) $1,511 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,576 ($80) $10,496 Amortization of net loss (59,883) (990) (1,190) (62,063) Settlement loss (6,043) — — (6,043) ($65,926) $9,586 ($1,270) ($57,610) Entergy Louisiana Amortization of prior service credit $— $2,460 $— $2,460 Amortization of net gain (loss) (1,484) 182 (3) (1,305) Settlement loss (1,400) — — (1,400) ($2,884) $2,642 ($3) ($245) Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Cost Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees exceeded the sum of the Plan’s 2022 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy each participate in the Entergy Corporation Retirement Plan for Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, and Entergy Mississippi each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, for the difference between the amount recorded for pension and other postretirement benefits expense under generally accepted accounting principles during 2019, the first year that rates from Entergy Texas’s last general rate proceeding were in effect, and the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amount will be evaluated in the base rate case that was filed with the PUCT in July 2022 and a reasonable amortization period will be determined by the PUCT. At June 30, 2022, the balance in this reserve was approximately $15.7 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $200 million to its qualified pension plans in 2022. As of June 30, 2022, Entergy had contributed $101 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2022: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2022 pension contributions $40,840 $22,917 $12,852 $922 $1,924 $12,760 Pension contributions made through June 2022 $21,532 $13,410 $5,442 $922 $1,486 $6,187 Remaining estimated pension contributions to be made in 2022 $19,308 $9,507 $7,410 $— $438 $6,573 |
Entergy Louisiana [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $36,977 $42,951 Interest cost on projected benefit obligation 52,676 47,382 Expected return on assets (103,085) (106,039) Amortization of net loss 56,413 92,799 Settlement charges 22,653 111,549 Net pension costs $65,634 $188,642 Entergy’s qualified pension costs, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $74,637 $88,191 Interest cost on projected benefit obligation 103,795 93,480 Expected return on assets (206,692) (211,753) Amortization of net loss 116,992 197,190 Settlement charges 22,653 111,549 Net pension costs $111,385 $278,657 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,699 $9,007 $2,075 $752 $1,579 $2,001 Interest cost on projected benefit obligation 9,761 10,684 2,796 1,139 2,272 2,394 Expected return on assets (19,031) (21,060) (5,164) (2,515) (4,905) (4,586) Amortization of net loss 12,848 12,302 3,620 1,368 2,439 3,171 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $21,773 $15,394 $5,535 $744 $3,851 $5,003 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $7,255 $9,759 $2,304 $774 $1,757 $2,253 Interest cost on projected benefit obligation 8,752 9,864 2,571 1,079 2,052 2,236 Expected return on assets (19,640) (22,516) (5,600) (2,641) (5,272) (4,804) Amortization of net loss 18,250 17,890 5,309 2,069 3,415 4,933 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $39,003 $49,989 $12,346 $4,866 $8,578 $9,256 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,557 $18,144 $4,205 $1,504 $3,211 $4,046 Interest cost on projected benefit obligation 19,078 21,183 5,474 2,278 4,447 4,732 Expected return on assets (38,278) (42,193) (10,367) (5,030) (9,842) (9,209) Amortization of net loss 26,274 24,899 7,430 2,736 4,994 6,437 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $32,127 $26,494 $8,950 $1,488 $5,276 $8,029 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $14,674 $19,803 $4,668 $1,569 $3,557 $4,566 Interest cost on projected benefit obligation 17,092 19,425 5,034 2,108 4,002 4,378 Expected return on assets (39,311) (45,055) (11,186) (5,263) (10,510) (9,583) Amortization of net loss 37,552 37,093 10,976 4,340 7,126 10,258 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $54,393 $66,258 $17,254 $6,339 $10,801 $14,257 Non-Qualified Net Pension Cost Entergy recognized $7.2 million and $4.6 million in pension cost for its non-qualified pension plans in the second quarters of 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans in the second quarter of 2022 were settlement charges of $2.5 million related to the payment of lump sum benefits out of the plan. In the second quarter of 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. Entergy recognized $17.4 million and $9.2 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans for the six months ended June 30, 2022 were settlement charges of $7.8 million related to the payment of lump sum benefits out of the plan. For the six months ended June 30, 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the second quarters of 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $71 $26 $79 $27 $88 2021 $90 $44 $96 $8 $115 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the six months ended June 30, 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $143 $53 $161 $56 $303 2021 $180 $88 $192 $16 $230 Reflected in Entergy Mississippi’s non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $2 thousand related to the payment of lump sum benefits out of the plan. Entergy Texas’ non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $119 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit income, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $6,184 $6,645 Interest cost on accumulated postretirement benefit obligation (APBO) 6,827 5,320 Expected return on assets (10,855) (10,805) Amortization of prior service credit (6,388) (8,267) Amortization of net loss 1,083 713 Net other postretirement benefit income ($3,149) ($6,394) Entergy’s other postretirement benefit income, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $12,368 $13,290 Interest cost on accumulated postretirement benefit obligation (APBO) 13,654 10,640 Expected return on assets (21,710) (21,610) Amortization of prior service credit (12,776) (16,534) Amortization of net loss 2,166 1,426 Net other postretirement benefit income ($6,298) ($12,788) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost/(credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefit cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,034 $1,544 $362 $109 $346 $335 Interest cost on APBO 932 1,130 278 130 317 220 Expected return on assets (4,505) — (1,384) (1,438) (2,548) (789) Amortization of prior service credit (280) (1,230) (444) (229) (936) (109) Amortization of net (gain) loss 49 (91) 19 (178) 100 15 Net other postretirement benefit cost (income) ($2,770) $1,353 ($1,169) ($1,606) ($2,721) ($328) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,228 $2,816 $678 $198 $662 $620 Interest cost on APBO 2,526 2,886 700 348 798 558 Expected return on assets (8,966) — (2,788) (2,998) (5,136) (1,582) Amortization of prior service cost/(credit) 942 (2,316) (886) (458) (2,186) (160) Amortization of net (gain) loss 436 (372) 112 (450) 324 60 Net other postretirement benefit cost (income) ($2,834) $3,014 ($2,184) ($3,360) ($5,538) ($504) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,068 $3,088 $724 $218 $692 $670 Interest cost on APBO 1,864 2,260 556 260 634 440 Expected return on assets (9,010) — (2,768) (2,876) (5,096) (1,578) Amortization of prior service credit (560) (2,460) (888) (458) (1,872) (218) Amortization of net (gain) loss 98 (182) 38 (356) 200 30 Net other postretirement benefit cost (income) ($5,540) $2,706 ($2,338) ($3,212) ($5,442) ($656) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the second quarters of 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (10,035) (596) (348) (10,979) Settlement loss (178) — (367) (545) ($10,213) $3,418 ($892) ($7,687) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (493) 186 (1) (308) Settlement loss (178) — — ($178) ($671) $1,344 ($1) $672 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,288 ($40) $5,248 Amortization of net loss (26,443) (496) (595) (27,534) Settlement loss (6,043) — — (6,043) ($32,486) $4,792 ($635) ($28,329) Entergy Louisiana Amortization of prior service credit $— $1,230 $— $1,230 Amortization of net gain (loss) (716) 91 (1) (626) Settlement loss (1,400) — — (1,400) ($2,116) $1,321 ($1) ($796) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the six months ended June 30, 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $8,028 ($354) $7,674 Amortization of net loss (22,945) (1,192) (767) (24,904) Settlement loss (178) — (1,149) (1,327) ($23,123) $6,836 ($2,270) ($18,557) Entergy Louisiana Amortization of prior service credit $— $2,316 $— $2,316 Amortization of net gain (loss) (997) 372 (2) (627) Settlement loss (178) — — (178) ($1,175) $2,688 ($2) $1,511 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,576 ($80) $10,496 Amortization of net loss (59,883) (990) (1,190) (62,063) Settlement loss (6,043) — — (6,043) ($65,926) $9,586 ($1,270) ($57,610) Entergy Louisiana Amortization of prior service credit $— $2,460 $— $2,460 Amortization of net gain (loss) (1,484) 182 (3) (1,305) Settlement loss (1,400) — — (1,400) ($2,884) $2,642 ($3) ($245) Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Cost Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees exceeded the sum of the Plan’s 2022 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy each participate in the Entergy Corporation Retirement Plan for Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, and Entergy Mississippi each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, for the difference between the amount recorded for pension and other postretirement benefits expense under generally accepted accounting principles during 2019, the first year that rates from Entergy Texas’s last general rate proceeding were in effect, and the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amount will be evaluated in the base rate case that was filed with the PUCT in July 2022 and a reasonable amortization period will be determined by the PUCT. At June 30, 2022, the balance in this reserve was approximately $15.7 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $200 million to its qualified pension plans in 2022. As of June 30, 2022, Entergy had contributed $101 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2022: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2022 pension contributions $40,840 $22,917 $12,852 $922 $1,924 $12,760 Pension contributions made through June 2022 $21,532 $13,410 $5,442 $922 $1,486 $6,187 Remaining estimated pension contributions to be made in 2022 $19,308 $9,507 $7,410 $— $438 $6,573 |
Entergy Mississippi [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $36,977 $42,951 Interest cost on projected benefit obligation 52,676 47,382 Expected return on assets (103,085) (106,039) Amortization of net loss 56,413 92,799 Settlement charges 22,653 111,549 Net pension costs $65,634 $188,642 Entergy’s qualified pension costs, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $74,637 $88,191 Interest cost on projected benefit obligation 103,795 93,480 Expected return on assets (206,692) (211,753) Amortization of net loss 116,992 197,190 Settlement charges 22,653 111,549 Net pension costs $111,385 $278,657 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,699 $9,007 $2,075 $752 $1,579 $2,001 Interest cost on projected benefit obligation 9,761 10,684 2,796 1,139 2,272 2,394 Expected return on assets (19,031) (21,060) (5,164) (2,515) (4,905) (4,586) Amortization of net loss 12,848 12,302 3,620 1,368 2,439 3,171 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $21,773 $15,394 $5,535 $744 $3,851 $5,003 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $7,255 $9,759 $2,304 $774 $1,757 $2,253 Interest cost on projected benefit obligation 8,752 9,864 2,571 1,079 2,052 2,236 Expected return on assets (19,640) (22,516) (5,600) (2,641) (5,272) (4,804) Amortization of net loss 18,250 17,890 5,309 2,069 3,415 4,933 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $39,003 $49,989 $12,346 $4,866 $8,578 $9,256 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,557 $18,144 $4,205 $1,504 $3,211 $4,046 Interest cost on projected benefit obligation 19,078 21,183 5,474 2,278 4,447 4,732 Expected return on assets (38,278) (42,193) (10,367) (5,030) (9,842) (9,209) Amortization of net loss 26,274 24,899 7,430 2,736 4,994 6,437 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $32,127 $26,494 $8,950 $1,488 $5,276 $8,029 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $14,674 $19,803 $4,668 $1,569 $3,557 $4,566 Interest cost on projected benefit obligation 17,092 19,425 5,034 2,108 4,002 4,378 Expected return on assets (39,311) (45,055) (11,186) (5,263) (10,510) (9,583) Amortization of net loss 37,552 37,093 10,976 4,340 7,126 10,258 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $54,393 $66,258 $17,254 $6,339 $10,801 $14,257 Non-Qualified Net Pension Cost Entergy recognized $7.2 million and $4.6 million in pension cost for its non-qualified pension plans in the second quarters of 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans in the second quarter of 2022 were settlement charges of $2.5 million related to the payment of lump sum benefits out of the plan. In the second quarter of 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. Entergy recognized $17.4 million and $9.2 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans for the six months ended June 30, 2022 were settlement charges of $7.8 million related to the payment of lump sum benefits out of the plan. For the six months ended June 30, 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the second quarters of 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $71 $26 $79 $27 $88 2021 $90 $44 $96 $8 $115 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the six months ended June 30, 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $143 $53 $161 $56 $303 2021 $180 $88 $192 $16 $230 Reflected in Entergy Mississippi’s non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $2 thousand related to the payment of lump sum benefits out of the plan. Entergy Texas’ non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $119 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit income, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $6,184 $6,645 Interest cost on accumulated postretirement benefit obligation (APBO) 6,827 5,320 Expected return on assets (10,855) (10,805) Amortization of prior service credit (6,388) (8,267) Amortization of net loss 1,083 713 Net other postretirement benefit income ($3,149) ($6,394) Entergy’s other postretirement benefit income, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $12,368 $13,290 Interest cost on accumulated postretirement benefit obligation (APBO) 13,654 10,640 Expected return on assets (21,710) (21,610) Amortization of prior service credit (12,776) (16,534) Amortization of net loss 2,166 1,426 Net other postretirement benefit income ($6,298) ($12,788) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost/(credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefit cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,034 $1,544 $362 $109 $346 $335 Interest cost on APBO 932 1,130 278 130 317 220 Expected return on assets (4,505) — (1,384) (1,438) (2,548) (789) Amortization of prior service credit (280) (1,230) (444) (229) (936) (109) Amortization of net (gain) loss 49 (91) 19 (178) 100 15 Net other postretirement benefit cost (income) ($2,770) $1,353 ($1,169) ($1,606) ($2,721) ($328) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,228 $2,816 $678 $198 $662 $620 Interest cost on APBO 2,526 2,886 700 348 798 558 Expected return on assets (8,966) — (2,788) (2,998) (5,136) (1,582) Amortization of prior service cost/(credit) 942 (2,316) (886) (458) (2,186) (160) Amortization of net (gain) loss 436 (372) 112 (450) 324 60 Net other postretirement benefit cost (income) ($2,834) $3,014 ($2,184) ($3,360) ($5,538) ($504) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,068 $3,088 $724 $218 $692 $670 Interest cost on APBO 1,864 2,260 556 260 634 440 Expected return on assets (9,010) — (2,768) (2,876) (5,096) (1,578) Amortization of prior service credit (560) (2,460) (888) (458) (1,872) (218) Amortization of net (gain) loss 98 (182) 38 (356) 200 30 Net other postretirement benefit cost (income) ($5,540) $2,706 ($2,338) ($3,212) ($5,442) ($656) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the second quarters of 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (10,035) (596) (348) (10,979) Settlement loss (178) — (367) (545) ($10,213) $3,418 ($892) ($7,687) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (493) 186 (1) (308) Settlement loss (178) — — ($178) ($671) $1,344 ($1) $672 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,288 ($40) $5,248 Amortization of net loss (26,443) (496) (595) (27,534) Settlement loss (6,043) — — (6,043) ($32,486) $4,792 ($635) ($28,329) Entergy Louisiana Amortization of prior service credit $— $1,230 $— $1,230 Amortization of net gain (loss) (716) 91 (1) (626) Settlement loss (1,400) — — (1,400) ($2,116) $1,321 ($1) ($796) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the six months ended June 30, 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $8,028 ($354) $7,674 Amortization of net loss (22,945) (1,192) (767) (24,904) Settlement loss (178) — (1,149) (1,327) ($23,123) $6,836 ($2,270) ($18,557) Entergy Louisiana Amortization of prior service credit $— $2,316 $— $2,316 Amortization of net gain (loss) (997) 372 (2) (627) Settlement loss (178) — — (178) ($1,175) $2,688 ($2) $1,511 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,576 ($80) $10,496 Amortization of net loss (59,883) (990) (1,190) (62,063) Settlement loss (6,043) — — (6,043) ($65,926) $9,586 ($1,270) ($57,610) Entergy Louisiana Amortization of prior service credit $— $2,460 $— $2,460 Amortization of net gain (loss) (1,484) 182 (3) (1,305) Settlement loss (1,400) — — (1,400) ($2,884) $2,642 ($3) ($245) Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Cost Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees exceeded the sum of the Plan’s 2022 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy each participate in the Entergy Corporation Retirement Plan for Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, and Entergy Mississippi each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, for the difference between the amount recorded for pension and other postretirement benefits expense under generally accepted accounting principles during 2019, the first year that rates from Entergy Texas’s last general rate proceeding were in effect, and the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amount will be evaluated in the base rate case that was filed with the PUCT in July 2022 and a reasonable amortization period will be determined by the PUCT. At June 30, 2022, the balance in this reserve was approximately $15.7 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $200 million to its qualified pension plans in 2022. As of June 30, 2022, Entergy had contributed $101 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2022: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2022 pension contributions $40,840 $22,917 $12,852 $922 $1,924 $12,760 Pension contributions made through June 2022 $21,532 $13,410 $5,442 $922 $1,486 $6,187 Remaining estimated pension contributions to be made in 2022 $19,308 $9,507 $7,410 $— $438 $6,573 |
Entergy New Orleans [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $36,977 $42,951 Interest cost on projected benefit obligation 52,676 47,382 Expected return on assets (103,085) (106,039) Amortization of net loss 56,413 92,799 Settlement charges 22,653 111,549 Net pension costs $65,634 $188,642 Entergy’s qualified pension costs, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $74,637 $88,191 Interest cost on projected benefit obligation 103,795 93,480 Expected return on assets (206,692) (211,753) Amortization of net loss 116,992 197,190 Settlement charges 22,653 111,549 Net pension costs $111,385 $278,657 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,699 $9,007 $2,075 $752 $1,579 $2,001 Interest cost on projected benefit obligation 9,761 10,684 2,796 1,139 2,272 2,394 Expected return on assets (19,031) (21,060) (5,164) (2,515) (4,905) (4,586) Amortization of net loss 12,848 12,302 3,620 1,368 2,439 3,171 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $21,773 $15,394 $5,535 $744 $3,851 $5,003 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $7,255 $9,759 $2,304 $774 $1,757 $2,253 Interest cost on projected benefit obligation 8,752 9,864 2,571 1,079 2,052 2,236 Expected return on assets (19,640) (22,516) (5,600) (2,641) (5,272) (4,804) Amortization of net loss 18,250 17,890 5,309 2,069 3,415 4,933 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $39,003 $49,989 $12,346 $4,866 $8,578 $9,256 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,557 $18,144 $4,205 $1,504 $3,211 $4,046 Interest cost on projected benefit obligation 19,078 21,183 5,474 2,278 4,447 4,732 Expected return on assets (38,278) (42,193) (10,367) (5,030) (9,842) (9,209) Amortization of net loss 26,274 24,899 7,430 2,736 4,994 6,437 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $32,127 $26,494 $8,950 $1,488 $5,276 $8,029 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $14,674 $19,803 $4,668 $1,569 $3,557 $4,566 Interest cost on projected benefit obligation 17,092 19,425 5,034 2,108 4,002 4,378 Expected return on assets (39,311) (45,055) (11,186) (5,263) (10,510) (9,583) Amortization of net loss 37,552 37,093 10,976 4,340 7,126 10,258 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $54,393 $66,258 $17,254 $6,339 $10,801 $14,257 Non-Qualified Net Pension Cost Entergy recognized $7.2 million and $4.6 million in pension cost for its non-qualified pension plans in the second quarters of 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans in the second quarter of 2022 were settlement charges of $2.5 million related to the payment of lump sum benefits out of the plan. In the second quarter of 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. Entergy recognized $17.4 million and $9.2 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans for the six months ended June 30, 2022 were settlement charges of $7.8 million related to the payment of lump sum benefits out of the plan. For the six months ended June 30, 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the second quarters of 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $71 $26 $79 $27 $88 2021 $90 $44 $96 $8 $115 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the six months ended June 30, 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $143 $53 $161 $56 $303 2021 $180 $88 $192 $16 $230 Reflected in Entergy Mississippi’s non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $2 thousand related to the payment of lump sum benefits out of the plan. Entergy Texas’ non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $119 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit income, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $6,184 $6,645 Interest cost on accumulated postretirement benefit obligation (APBO) 6,827 5,320 Expected return on assets (10,855) (10,805) Amortization of prior service credit (6,388) (8,267) Amortization of net loss 1,083 713 Net other postretirement benefit income ($3,149) ($6,394) Entergy’s other postretirement benefit income, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $12,368 $13,290 Interest cost on accumulated postretirement benefit obligation (APBO) 13,654 10,640 Expected return on assets (21,710) (21,610) Amortization of prior service credit (12,776) (16,534) Amortization of net loss 2,166 1,426 Net other postretirement benefit income ($6,298) ($12,788) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost/(credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefit cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,034 $1,544 $362 $109 $346 $335 Interest cost on APBO 932 1,130 278 130 317 220 Expected return on assets (4,505) — (1,384) (1,438) (2,548) (789) Amortization of prior service credit (280) (1,230) (444) (229) (936) (109) Amortization of net (gain) loss 49 (91) 19 (178) 100 15 Net other postretirement benefit cost (income) ($2,770) $1,353 ($1,169) ($1,606) ($2,721) ($328) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,228 $2,816 $678 $198 $662 $620 Interest cost on APBO 2,526 2,886 700 348 798 558 Expected return on assets (8,966) — (2,788) (2,998) (5,136) (1,582) Amortization of prior service cost/(credit) 942 (2,316) (886) (458) (2,186) (160) Amortization of net (gain) loss 436 (372) 112 (450) 324 60 Net other postretirement benefit cost (income) ($2,834) $3,014 ($2,184) ($3,360) ($5,538) ($504) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,068 $3,088 $724 $218 $692 $670 Interest cost on APBO 1,864 2,260 556 260 634 440 Expected return on assets (9,010) — (2,768) (2,876) (5,096) (1,578) Amortization of prior service credit (560) (2,460) (888) (458) (1,872) (218) Amortization of net (gain) loss 98 (182) 38 (356) 200 30 Net other postretirement benefit cost (income) ($5,540) $2,706 ($2,338) ($3,212) ($5,442) ($656) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the second quarters of 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (10,035) (596) (348) (10,979) Settlement loss (178) — (367) (545) ($10,213) $3,418 ($892) ($7,687) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (493) 186 (1) (308) Settlement loss (178) — — ($178) ($671) $1,344 ($1) $672 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,288 ($40) $5,248 Amortization of net loss (26,443) (496) (595) (27,534) Settlement loss (6,043) — — (6,043) ($32,486) $4,792 ($635) ($28,329) Entergy Louisiana Amortization of prior service credit $— $1,230 $— $1,230 Amortization of net gain (loss) (716) 91 (1) (626) Settlement loss (1,400) — — (1,400) ($2,116) $1,321 ($1) ($796) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the six months ended June 30, 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $8,028 ($354) $7,674 Amortization of net loss (22,945) (1,192) (767) (24,904) Settlement loss (178) — (1,149) (1,327) ($23,123) $6,836 ($2,270) ($18,557) Entergy Louisiana Amortization of prior service credit $— $2,316 $— $2,316 Amortization of net gain (loss) (997) 372 (2) (627) Settlement loss (178) — — (178) ($1,175) $2,688 ($2) $1,511 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,576 ($80) $10,496 Amortization of net loss (59,883) (990) (1,190) (62,063) Settlement loss (6,043) — — (6,043) ($65,926) $9,586 ($1,270) ($57,610) Entergy Louisiana Amortization of prior service credit $— $2,460 $— $2,460 Amortization of net gain (loss) (1,484) 182 (3) (1,305) Settlement loss (1,400) — — (1,400) ($2,884) $2,642 ($3) ($245) Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Cost Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees exceeded the sum of the Plan’s 2022 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy each participate in the Entergy Corporation Retirement Plan for Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, and Entergy Mississippi each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, for the difference between the amount recorded for pension and other postretirement benefits expense under generally accepted accounting principles during 2019, the first year that rates from Entergy Texas’s last general rate proceeding were in effect, and the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amount will be evaluated in the base rate case that was filed with the PUCT in July 2022 and a reasonable amortization period will be determined by the PUCT. At June 30, 2022, the balance in this reserve was approximately $15.7 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $200 million to its qualified pension plans in 2022. As of June 30, 2022, Entergy had contributed $101 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2022: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2022 pension contributions $40,840 $22,917 $12,852 $922 $1,924 $12,760 Pension contributions made through June 2022 $21,532 $13,410 $5,442 $922 $1,486 $6,187 Remaining estimated pension contributions to be made in 2022 $19,308 $9,507 $7,410 $— $438 $6,573 |
Entergy Texas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $36,977 $42,951 Interest cost on projected benefit obligation 52,676 47,382 Expected return on assets (103,085) (106,039) Amortization of net loss 56,413 92,799 Settlement charges 22,653 111,549 Net pension costs $65,634 $188,642 Entergy’s qualified pension costs, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $74,637 $88,191 Interest cost on projected benefit obligation 103,795 93,480 Expected return on assets (206,692) (211,753) Amortization of net loss 116,992 197,190 Settlement charges 22,653 111,549 Net pension costs $111,385 $278,657 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,699 $9,007 $2,075 $752 $1,579 $2,001 Interest cost on projected benefit obligation 9,761 10,684 2,796 1,139 2,272 2,394 Expected return on assets (19,031) (21,060) (5,164) (2,515) (4,905) (4,586) Amortization of net loss 12,848 12,302 3,620 1,368 2,439 3,171 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $21,773 $15,394 $5,535 $744 $3,851 $5,003 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $7,255 $9,759 $2,304 $774 $1,757 $2,253 Interest cost on projected benefit obligation 8,752 9,864 2,571 1,079 2,052 2,236 Expected return on assets (19,640) (22,516) (5,600) (2,641) (5,272) (4,804) Amortization of net loss 18,250 17,890 5,309 2,069 3,415 4,933 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $39,003 $49,989 $12,346 $4,866 $8,578 $9,256 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,557 $18,144 $4,205 $1,504 $3,211 $4,046 Interest cost on projected benefit obligation 19,078 21,183 5,474 2,278 4,447 4,732 Expected return on assets (38,278) (42,193) (10,367) (5,030) (9,842) (9,209) Amortization of net loss 26,274 24,899 7,430 2,736 4,994 6,437 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $32,127 $26,494 $8,950 $1,488 $5,276 $8,029 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $14,674 $19,803 $4,668 $1,569 $3,557 $4,566 Interest cost on projected benefit obligation 17,092 19,425 5,034 2,108 4,002 4,378 Expected return on assets (39,311) (45,055) (11,186) (5,263) (10,510) (9,583) Amortization of net loss 37,552 37,093 10,976 4,340 7,126 10,258 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $54,393 $66,258 $17,254 $6,339 $10,801 $14,257 Non-Qualified Net Pension Cost Entergy recognized $7.2 million and $4.6 million in pension cost for its non-qualified pension plans in the second quarters of 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans in the second quarter of 2022 were settlement charges of $2.5 million related to the payment of lump sum benefits out of the plan. In the second quarter of 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. Entergy recognized $17.4 million and $9.2 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans for the six months ended June 30, 2022 were settlement charges of $7.8 million related to the payment of lump sum benefits out of the plan. For the six months ended June 30, 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the second quarters of 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $71 $26 $79 $27 $88 2021 $90 $44 $96 $8 $115 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the six months ended June 30, 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $143 $53 $161 $56 $303 2021 $180 $88 $192 $16 $230 Reflected in Entergy Mississippi’s non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $2 thousand related to the payment of lump sum benefits out of the plan. Entergy Texas’ non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $119 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit income, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $6,184 $6,645 Interest cost on accumulated postretirement benefit obligation (APBO) 6,827 5,320 Expected return on assets (10,855) (10,805) Amortization of prior service credit (6,388) (8,267) Amortization of net loss 1,083 713 Net other postretirement benefit income ($3,149) ($6,394) Entergy’s other postretirement benefit income, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $12,368 $13,290 Interest cost on accumulated postretirement benefit obligation (APBO) 13,654 10,640 Expected return on assets (21,710) (21,610) Amortization of prior service credit (12,776) (16,534) Amortization of net loss 2,166 1,426 Net other postretirement benefit income ($6,298) ($12,788) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost/(credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefit cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,034 $1,544 $362 $109 $346 $335 Interest cost on APBO 932 1,130 278 130 317 220 Expected return on assets (4,505) — (1,384) (1,438) (2,548) (789) Amortization of prior service credit (280) (1,230) (444) (229) (936) (109) Amortization of net (gain) loss 49 (91) 19 (178) 100 15 Net other postretirement benefit cost (income) ($2,770) $1,353 ($1,169) ($1,606) ($2,721) ($328) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,228 $2,816 $678 $198 $662 $620 Interest cost on APBO 2,526 2,886 700 348 798 558 Expected return on assets (8,966) — (2,788) (2,998) (5,136) (1,582) Amortization of prior service cost/(credit) 942 (2,316) (886) (458) (2,186) (160) Amortization of net (gain) loss 436 (372) 112 (450) 324 60 Net other postretirement benefit cost (income) ($2,834) $3,014 ($2,184) ($3,360) ($5,538) ($504) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,068 $3,088 $724 $218 $692 $670 Interest cost on APBO 1,864 2,260 556 260 634 440 Expected return on assets (9,010) — (2,768) (2,876) (5,096) (1,578) Amortization of prior service credit (560) (2,460) (888) (458) (1,872) (218) Amortization of net (gain) loss 98 (182) 38 (356) 200 30 Net other postretirement benefit cost (income) ($5,540) $2,706 ($2,338) ($3,212) ($5,442) ($656) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the second quarters of 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (10,035) (596) (348) (10,979) Settlement loss (178) — (367) (545) ($10,213) $3,418 ($892) ($7,687) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (493) 186 (1) (308) Settlement loss (178) — — ($178) ($671) $1,344 ($1) $672 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,288 ($40) $5,248 Amortization of net loss (26,443) (496) (595) (27,534) Settlement loss (6,043) — — (6,043) ($32,486) $4,792 ($635) ($28,329) Entergy Louisiana Amortization of prior service credit $— $1,230 $— $1,230 Amortization of net gain (loss) (716) 91 (1) (626) Settlement loss (1,400) — — (1,400) ($2,116) $1,321 ($1) ($796) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the six months ended June 30, 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $8,028 ($354) $7,674 Amortization of net loss (22,945) (1,192) (767) (24,904) Settlement loss (178) — (1,149) (1,327) ($23,123) $6,836 ($2,270) ($18,557) Entergy Louisiana Amortization of prior service credit $— $2,316 $— $2,316 Amortization of net gain (loss) (997) 372 (2) (627) Settlement loss (178) — — (178) ($1,175) $2,688 ($2) $1,511 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,576 ($80) $10,496 Amortization of net loss (59,883) (990) (1,190) (62,063) Settlement loss (6,043) — — (6,043) ($65,926) $9,586 ($1,270) ($57,610) Entergy Louisiana Amortization of prior service credit $— $2,460 $— $2,460 Amortization of net gain (loss) (1,484) 182 (3) (1,305) Settlement loss (1,400) — — (1,400) ($2,884) $2,642 ($3) ($245) Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Cost Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees exceeded the sum of the Plan’s 2022 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy each participate in the Entergy Corporation Retirement Plan for Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, and Entergy Mississippi each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, for the difference between the amount recorded for pension and other postretirement benefits expense under generally accepted accounting principles during 2019, the first year that rates from Entergy Texas’s last general rate proceeding were in effect, and the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amount will be evaluated in the base rate case that was filed with the PUCT in July 2022 and a reasonable amortization period will be determined by the PUCT. At June 30, 2022, the balance in this reserve was approximately $15.7 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $200 million to its qualified pension plans in 2022. As of June 30, 2022, Entergy had contributed $101 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2022: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2022 pension contributions $40,840 $22,917 $12,852 $922 $1,924 $12,760 Pension contributions made through June 2022 $21,532 $13,410 $5,442 $922 $1,486 $6,187 Remaining estimated pension contributions to be made in 2022 $19,308 $9,507 $7,410 $— $438 $6,573 |
System Energy [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension costs, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $36,977 $42,951 Interest cost on projected benefit obligation 52,676 47,382 Expected return on assets (103,085) (106,039) Amortization of net loss 56,413 92,799 Settlement charges 22,653 111,549 Net pension costs $65,634 $188,642 Entergy’s qualified pension costs, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $74,637 $88,191 Interest cost on projected benefit obligation 103,795 93,480 Expected return on assets (206,692) (211,753) Amortization of net loss 116,992 197,190 Settlement charges 22,653 111,549 Net pension costs $111,385 $278,657 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $6,699 $9,007 $2,075 $752 $1,579 $2,001 Interest cost on projected benefit obligation 9,761 10,684 2,796 1,139 2,272 2,394 Expected return on assets (19,031) (21,060) (5,164) (2,515) (4,905) (4,586) Amortization of net loss 12,848 12,302 3,620 1,368 2,439 3,171 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $21,773 $15,394 $5,535 $744 $3,851 $5,003 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $7,255 $9,759 $2,304 $774 $1,757 $2,253 Interest cost on projected benefit obligation 8,752 9,864 2,571 1,079 2,052 2,236 Expected return on assets (19,640) (22,516) (5,600) (2,641) (5,272) (4,804) Amortization of net loss 18,250 17,890 5,309 2,069 3,415 4,933 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $39,003 $49,989 $12,346 $4,866 $8,578 $9,256 The Registrant Subsidiaries’ qualified pension costs, including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $13,557 $18,144 $4,205 $1,504 $3,211 $4,046 Interest cost on projected benefit obligation 19,078 21,183 5,474 2,278 4,447 4,732 Expected return on assets (38,278) (42,193) (10,367) (5,030) (9,842) (9,209) Amortization of net loss 26,274 24,899 7,430 2,736 4,994 6,437 Settlement charges 11,496 4,461 2,208 — 2,466 2,023 Net pension cost $32,127 $26,494 $8,950 $1,488 $5,276 $8,029 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $14,674 $19,803 $4,668 $1,569 $3,557 $4,566 Interest cost on projected benefit obligation 17,092 19,425 5,034 2,108 4,002 4,378 Expected return on assets (39,311) (45,055) (11,186) (5,263) (10,510) (9,583) Amortization of net loss 37,552 37,093 10,976 4,340 7,126 10,258 Settlement charges 24,386 34,992 7,762 3,585 6,626 4,638 Net pension cost $54,393 $66,258 $17,254 $6,339 $10,801 $14,257 Non-Qualified Net Pension Cost Entergy recognized $7.2 million and $4.6 million in pension cost for its non-qualified pension plans in the second quarters of 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans in the second quarter of 2022 were settlement charges of $2.5 million related to the payment of lump sum benefits out of the plan. In the second quarter of 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. Entergy recognized $17.4 million and $9.2 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2022 and 2021, respectively. Reflected in the pension cost for non-qualified pension plans for the six months ended June 30, 2022 were settlement charges of $7.8 million related to the payment of lump sum benefits out of the plan. For the six months ended June 30, 2021, there were no settlement charges related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the second quarters of 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $71 $26 $79 $27 $88 2021 $90 $44 $96 $8 $115 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the six months ended June 30, 2022 and 2021: Entergy Entergy Entergy Entergy Entergy (In Thousands) 2022 $143 $53 $161 $56 $303 2021 $180 $88 $192 $16 $230 Reflected in Entergy Mississippi’s non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $2 thousand related to the payment of lump sum benefits out of the plan. Entergy Texas’ non-qualified pension costs for the six months ended June 30, 2022 were settlement charges of $119 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit income, including amounts capitalized, for the second quarters of 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $6,184 $6,645 Interest cost on accumulated postretirement benefit obligation (APBO) 6,827 5,320 Expected return on assets (10,855) (10,805) Amortization of prior service credit (6,388) (8,267) Amortization of net loss 1,083 713 Net other postretirement benefit income ($3,149) ($6,394) Entergy’s other postretirement benefit income, including amounts capitalized, for the six months ended June 30, 2022 and 2021, included the following components: 2022 2021 (In Thousands) Service cost - benefits earned during the period $12,368 $13,290 Interest cost on accumulated postretirement benefit obligation (APBO) 13,654 10,640 Expected return on assets (21,710) (21,610) Amortization of prior service credit (12,776) (16,534) Amortization of net loss 2,166 1,426 Net other postretirement benefit income ($6,298) ($12,788) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the second quarters of 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,114 $1,408 $339 $99 $331 $310 Interest cost on APBO 1,263 1,443 350 174 399 279 Expected return on assets (4,483) — (1,394) (1,499) (2,568) (791) Amortization of prior service cost/(credit) 471 (1,158) (443) (229) (1,093) (80) Amortization of net (gain) loss 218 (186) 56 (225) 162 30 Net other postretirement benefit cost (income) ($1,417) $1,507 ($1,092) ($1,680) ($2,769) ($252) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $1,034 $1,544 $362 $109 $346 $335 Interest cost on APBO 932 1,130 278 130 317 220 Expected return on assets (4,505) — (1,384) (1,438) (2,548) (789) Amortization of prior service credit (280) (1,230) (444) (229) (936) (109) Amortization of net (gain) loss 49 (91) 19 (178) 100 15 Net other postretirement benefit cost (income) ($2,770) $1,353 ($1,169) ($1,606) ($2,721) ($328) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the six months ended June 30, 2022 and 2021, included the following components: 2022 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,228 $2,816 $678 $198 $662 $620 Interest cost on APBO 2,526 2,886 700 348 798 558 Expected return on assets (8,966) — (2,788) (2,998) (5,136) (1,582) Amortization of prior service cost/(credit) 942 (2,316) (886) (458) (2,186) (160) Amortization of net (gain) loss 436 (372) 112 (450) 324 60 Net other postretirement benefit cost (income) ($2,834) $3,014 ($2,184) ($3,360) ($5,538) ($504) 2021 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $2,068 $3,088 $724 $218 $692 $670 Interest cost on APBO 1,864 2,260 556 260 634 440 Expected return on assets (9,010) — (2,768) (2,876) (5,096) (1,578) Amortization of prior service credit (560) (2,460) (888) (458) (1,872) (218) Amortization of net (gain) loss 98 (182) 38 (356) 200 30 Net other postretirement benefit cost (income) ($5,540) $2,706 ($2,338) ($3,212) ($5,442) ($656) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the second quarters of 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $4,014 ($177) $3,837 Amortization of net loss (10,035) (596) (348) (10,979) Settlement loss (178) — (367) (545) ($10,213) $3,418 ($892) ($7,687) Entergy Louisiana Amortization of prior service credit $— $1,158 $— $1,158 Amortization of net gain (loss) (493) 186 (1) (308) Settlement loss (178) — — ($178) ($671) $1,344 ($1) $672 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,288 ($40) $5,248 Amortization of net loss (26,443) (496) (595) (27,534) Settlement loss (6,043) — — (6,043) ($32,486) $4,792 ($635) ($28,329) Entergy Louisiana Amortization of prior service credit $— $1,230 $— $1,230 Amortization of net gain (loss) (716) 91 (1) (626) Settlement loss (1,400) — — (1,400) ($2,116) $1,321 ($1) ($796) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the six months ended June 30, 2022 and 2021: 2022 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $8,028 ($354) $7,674 Amortization of net loss (22,945) (1,192) (767) (24,904) Settlement loss (178) — (1,149) (1,327) ($23,123) $6,836 ($2,270) ($18,557) Entergy Louisiana Amortization of prior service credit $— $2,316 $— $2,316 Amortization of net gain (loss) (997) 372 (2) (627) Settlement loss (178) — — (178) ($1,175) $2,688 ($2) $1,511 2021 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $10,576 ($80) $10,496 Amortization of net loss (59,883) (990) (1,190) (62,063) Settlement loss (6,043) — — (6,043) ($65,926) $9,586 ($1,270) ($57,610) Entergy Louisiana Amortization of prior service credit $— $2,460 $— $2,460 Amortization of net gain (loss) (1,484) 182 (3) (1,305) Settlement loss (1,400) — — (1,400) ($2,884) $2,642 ($3) ($245) Accounting for Pension and Other Postretirement Benefits In accordance with ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations and are presented by Entergy in miscellaneous - net in other income. Qualified Pension Settlement Cost Year-to-date lump sum benefit payments from the Entergy Corporation Retirement Plan for Bargaining Employees exceeded the sum of the Plan’s 2022 service and interest cost, resulting in settlement costs. In accordance with accounting standards, settlement accounting requires immediate recognition of the portion of previously unrecognized losses associated with the settled portion of the plan’s pension liability. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy each participate in the Entergy Corporation Retirement Plan for Bargaining Employees and incurred settlement costs. Similar to other pension costs, the settlement costs were included with employee labor costs and charged to expense and capital in the same manner that labor costs were charged. Entergy Arkansas, Entergy Louisiana, and Entergy Mississippi each received regulatory approval to defer the expense portion of the settlement costs, with future amortization of the deferred settlement expense over the period in which the expense otherwise would be recorded had the immediate recognition not occurred. Entergy Texas Reserve In September 2020, Entergy Texas elected to establish a reserve, in accordance with PUCT regulations, for the difference between the amount recorded for pension and other postretirement benefits expense under generally accepted accounting principles during 2019, the first year that rates from Entergy Texas’s last general rate proceeding were in effect, and the annual amount of actuarially determined pension and other postretirement benefits chargeable to Entergy Texas’s expense. The reserve amount will be evaluated in the base rate case that was filed with the PUCT in July 2022 and a reasonable amortization period will be determined by the PUCT. At June 30, 2022, the balance in this reserve was approximately $15.7 million. Employer Contributions Based on current assumptions, Entergy expects to contribute $200 million to its qualified pension plans in 2022. As of June 30, 2022, Entergy had contributed $101 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2022: Entergy Entergy Entergy Entergy Entergy System (In Thousands) Expected 2022 pension contributions $40,840 $22,917 $12,852 $922 $1,924 $12,760 Pension contributions made through June 2022 $21,532 $13,410 $5,442 $922 $1,486 $6,187 Remaining estimated pension contributions to be made in 2022 $19,308 $9,507 $7,410 $— $438 $6,573 |