安特吉 2025年季度报告

For the transition period from ____________ to ____________ Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required tofile such reports), and (2) have been subject to such filing requirements for the past 90 days.Yes☑No☐ Indicate by check mark whether the registrants have submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrants were required to submit such files).Yes☑No☐ Indicate by check mark whether each registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrants have elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☑ Common Stock Outstanding Outstanding at September30, 2025 Entergy Corporation Entergy Corporation, Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, Entergy New Orleans, LLC,EntergyTexas,Inc.,and System Energy Resources,Inc.separately file this combined Quarterly Report on Form 10-Q.Information contained herein relating to any individual company is filed by such company on its own behalf.Each companymakes representations only as to itself and makes no other representations whatsoever as to any other company.This combinedQuarterly Report on Form 10-Q supplements and updates the Annual Report on Form 10-K for the calendar year ended December31, 2024 and the Quarterly Report on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, filed by the individualregistrants with the SEC, and should be read in conjunction therewith. Page Number Forward-looking InformationiiiDefinitionsvii Part I. Financial InformationEntergy Corporation and SubsidiariesManagement’s Financial Discussion and Analysis1Consolidated Income Statements26Consolidated Statements of Comprehensive Income27Consolidated Statements of Cash Flows28Consolidated Balance Sheets30Consolidated Statements of Changes in Equity32Notes to Financial StatementsNote 1. Commitments and Contingencies34Note 2. Rate and Regulatory Matters36Note 3. Equity46Note 4. Revolving Credit Facilities, Lines of Credit, Short-term Borrowings, and Long-term Debt52Note 5. Stock-based Compensation57Note 6. Retirement and Other Postretirement Benefits58Note 7. Business Segment Information66Note 8. Risk Management and Fair Values70Note 9. Decommissioning Trust Funds83Note 10. Income Taxes89Note 11. Variable Interest Entities90Note 12. Revenue92Note 13. Held for Sale and Dispositions95Item 3.Quantitative and Qualitative Disclosures About Market Risk98Item 4.Controls and Procedures98Entergy Arkansas, LLC and SubsidiariesManagement’s Financial Discussion and Analysis99Consolidated Income Statements112Consolidated Statements of Cash Flows113Consolidated Balance Sheets114Consolidated Statements of Changes in Equity116Entergy Louisiana, LLC and SubsidiariesManagement’s Financial Discussion and Analysis117Consolidated Income Statements134Consolidated Statements of Comprehensive Income135Consolidated Statements of Cash Flows137Consolidated Balance Sheets138Consolidated Statements of Changes in Equity140 TABLE OF CONTENTS Page Number Part II. Other Information Item 1.Legal Proceedings201Item 1A.Risk Factors201Item 2.Unregistered Sales of Equity Securities and Use of Proceeds201Item 5.Other Information202Item 6.Exhibits206Signature208 FORWARD-LOOKING INFORMATION In this combined report and from time to time, Entergy Corporation and the Registrant Subsidiaries each makes statementsas a registrant concerning its expectations, beliefs, plans, objectives, goals, projections, strategies, and future events orperformance.Such statements are “forward-looking statements” within the meaning of the Private Securities Litigation ReformAct of 1995.Words such as “may,” “will,” “could,” “project,” “believe,” “anticipate,” “intend,” “goal,” “commitment,” “expect,”“estimate,” “continue,” “potential,” “plan,” “predict,” “forecast,” and other similar words or expressions are intended to identifyforward-looking statements but are not the only means to identify these statements.Although each of these registrants believesthat these forward-looking statements and the underlying assumptions are reasonable, it cannot provide assurance tha