ENTERGY ARKANSAS, LLC
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 19, 2026
ETR$111.79+1.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| Forward-looking Information · iv | ||
|---|---|---|
| Definitions · viii | ||
| Entergy Corporation and Subsidiaries | ||
| Management’s Financial Discussion and Analysis | Part II. Item 7. | 1 |
| Report of Management | 41 | |
| Report of Independent Registered Public Accounting Firm | 42 | |
| Consolidated Income Statements for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 45 |
| Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 47 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 48 |
| Consolidated Balance Sheets, December 31, 2025 and 2024 | Part II. Item 8. | 50 |
| Consolidated Statements of Changes in Equity for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 52 |
| Notes to Financial Statements | Part II. Item 8. | |
| Note 1. Summary of Significant Accounting Policies | 53 | |
| Note 2. Rate and Regulatory Matters | 64 | |
| Note 3. Income Taxes | 118 | |
| Note 4. Revolving Credit Facilities, Lines of Credit, and Short-term Borrowings | 139 | |
| Note 5. Long-term Debt | 143 | |
| Note 6. Preferred Equity and Noncontrolling Interests | 152 | |
| Note 7. Common Equity | 155 | |
| Note 8. Commitments and Contingencies | 161 | |
| Note 9. Asset Retirement Obligations | 168 | |
| Note 10. Leases | 171 | |
| Note 11. Retirement, Other Postretirement Benefits, and Defined Contribution Plans | 177 | |
| Note 12. Stock-based Compensation | 208 | |
| Note 13. Business Segment Information | 213 | |
| Note 14. Acquisitions and Dispositions | 216 | |
| Note 15. Risk Management and Fair Values | 219 | |
| Note 16. Decommissioning Trust Funds | 232 | |
| Note 17. Variable Interest Entities | 238 | |
| Note 18. Transactions with Affiliates | 240 | |
| Note 19. Revenue | 242 | |
| Entergy’s Business | Part I. Item 1. | |
| Risk Factors Summary | 247 | |
| Utility | 249 | |
| Other Business Activities | 278 | |
| Regulation of Entergy’s Business | 279 | |
| Litigation | 291 | |
| Human Capital | 292 | |
| Availability of SEC filings and other information on Entergy’s website | 294 | |
| Risk Factors | Part I. Item 1A. | 295 |
| Unresolved Staff Comments | Part I. Item 1B. | 322 |
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| Cybersecurity | Part I. Item 1C. | 322 |
|---|---|---|
| Entergy Arkansas, LLC and Subsidiaries | ||
| Management’s Financial Discussion and Analysis | Part II. Item 7. | 326 |
| Report of Independent Registered Public Accounting Firm | 346 | |
| Consolidated Income Statements for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 348 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 349 |
| Consolidated Balance Sheets, December 31, 2025 and 2024 | Part II. Item 8. | 350 |
| Consolidated Statements of Changes in Equity for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 352 |
| Entergy Louisiana, LLC and Subsidiaries | ||
| Management’s Financial Discussion and Analysis | Part II. Item 7. | 353 |
| Report of Independent Registered Public Accounting Firm | 375 | |
| Consolidated Income Statements for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 377 |
| Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 378 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 379 |
| Consolidated Balance Sheets, December 31, 2025 and 2024 | Part II. Item 8. | 380 |
| Consolidated Statements of Changes in Equity for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 382 |
| Entergy Mississippi, LLC and Subsidiaries | ||
| Management’s Financial Discussion and Analysis | Part II. Item 7. | 383 |
| Report of Independent Registered Public Accounting Firm | 400 | |
| Consolidated Income Statements for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 402 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 403 |
| Consolidated Balance Sheets, December 31, 2025 and 2024 | Part II. Item 8. | 404 |
| Consolidated Statements of Changes in Equity for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 406 |
| Entergy New Orleans, LLC and Subsidiaries | ||
| Management’s Financial Discussion and Analysis | Part II. Item 7. | 407 |
| Report of Independent Registered Public Accounting Firm | 419 | |
| Consolidated Income Statements for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 421 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 423 |
| Consolidated Balance Sheets, December 31, 2025 and 2024 | Part II. Item 8. | 424 |
| Consolidated Statements of Changes in Member’s Equity for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 426 |
| Entergy Texas, Inc. and Subsidiaries | ||
| Management’s Financial Discussion and Analysis | Part II. Item 7. | 427 |
| Report of Independent Registered Public Accounting Firm | 446 | |
| Consolidated Income Statements for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 449 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 451 |
| Consolidated Balance Sheets, December 31, 2025 and 2024 | Part II. Item 8. | 452 |
| Consolidated Statements of Changes in Equity for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 454 |
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| System Energy Resources, Inc. | ||
|---|---|---|
| Management’s Financial Discussion and Analysis | Part II. Item 7. | 455 |
| Report of Independent Registered Public Accounting Firm | 465 | |
| Income Statements for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 467 |
| Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 469 |
| Balance Sheets, December 31, 2025 and 2024 | Part II. Item 8. | 470 |
| Statements of Changes in Common Equity for the Years Ended December 31, 2025, 2024, and 2023 | Part II. Item 8. | 472 |
| Properties | Part I. Item 2. | 473 |
| Legal Proceedings | Part I. Item 3. | 473 |
| Mine Safety Disclosures | Part I. Item 4. | 473 |
| Information about Executive Officers of Entergy Corporation | Part I. and Part III. Item 10. | 473 |
| Market for Registrants’ Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities | Part II. Item 5. | 476 |
| Reserved | Part II. Item 6. | 476 |
| Management’s Discussion and Analysis of Financial Condition and Results of Operations | Part II. Item 7. | 477 |
| Quantitative and Qualitative Disclosures About Market Risk | Part II. Item 7A. | 477 |
| Financial Statements and Supplementary Data | Part II. Item 8. | 477 |
| Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | Part II. Item 9. | 477 |
| Controls and Procedures | Part II. Item 9A. | 477 |
| Attestation Report of Registered Public Accounting Firm | Part II. Item 9A. | 479 |
| Other Information | Part II. Item 9B. | 480 |
| Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | Part II. Item 9C. | 480 |
| Directors, Executive Officers, and Corporate Governance of the Registrants | Part III. Item 10. | 481 |
| Executive Compensation | Part III. Item 11. | 485 |
| Security Ownership of Certain Beneficial Owners and Management | Part III. Item 12. | 533 |
| Certain Relationships and Related Party Transactions and Director Independence | Part III. Item 13. | 535 |
| Principal Accountant Fees and Services | Part III. Item 14. | 536 |
| Exhibits and Financial Statement Schedules | Part IV. Item 15. | 539 |
| Exhibit Index | 540 | |
| Signatures | 559 | |
| Consents of Independent Registered Public Accounting Firm | 566 | |
This combined Form 10-K is separately filed by Entergy Corporation and its six Registrant Subsidiaries: Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, Entergy New Orleans, LLC, Entergy Texas, Inc., and System Energy Resources, Inc. Information contained herein relating to any individual company is filed by such company on its own behalf. Each company makes representations only as to itself and makes no other representations whatsoever as to any other company.
The report should be read in its entirety as it pertains to each respective reporting company. No one section of the report deals with all aspects of the subject matter. Separate Item 7 and 8 sections are provided for each reporting company, except for the Notes to the financial statements. The Notes to the financial statements for all of the reporting companies are combined. All Items other than 7 and 8 are combined for the reporting companies.
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