Company: EAI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000065984-25-000046
Chunk: 230

Company: ENTERGY ARKANSAS, LLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 230
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 borrowings, and long-term debt.  See Note 6 to the financial statements in the Form 10-K for discussion of noncontrolling interests.Restoration Law Trust I (the storm trust I), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary.  As of March 31, 2025 and December 31, 2024, the primary asset held by the storm trust I was $2.8 billion and $2.9 billion, respectively, of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana.  The LURC’s 1% beneficial interest in the storm trust I is recorded as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with balances of $28.4 million as of March 31, 2025 and $28.8 million as of December 31, 2024.Restoration Law Trust II (the storm trust II), a trust consolidated by Entergy Louisiana, is a VIE and Entergy Louisiana is the primary beneficiary.  As of March 31, 2025 and December 31, 2024, the primary asset held by the storm trust II was $1.4 billion of outstanding Entergy Finance Company preferred membership interests, which is reflected as an investment in affiliate preferred membership interests on the consolidated balance sheets of Entergy Louisiana.  The LURC’s 1% beneficial interest in the storm trust II is recorded as noncontrolling interest on the consolidated balance sheets of Entergy and Entergy Louisiana, with balances of $14.1 million as of March 31, 2025 and $13.9 million as of December 31, 2024.System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant.  System Energy is the lessee under this arrangement, which is described in more detail in Note 5 to the financial statements in the Form 10-K.  System Energy made payments under this arrangement, including interest, of $8.6 million in each of the three months ended March 31, 2025 and the three months ended March 31, 2024.AR Searcy Partnership, LLC is a tax equity partnership that qualifies as a VIE, which Entergy Arkansas is required to consolidate