Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'NRG ENERGY, INC. | ' |
Entity Central Index Key | '0001013871 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 323,416,260 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Revenues | ' | ' | ' | ' |
Total operating revenues | $3,490 | $2,331 | $8,500 | $6,359 |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | 2,355 | 1,740 | 6,179 | 4,660 |
Depreciation and amortization | 318 | 239 | 921 | 703 |
Selling, general and administrative | 229 | 224 | 671 | 613 |
Acquisition-related transaction and integration costs | 26 | 18 | 95 | 18 |
Development activity expenses | 27 | 24 | 63 | 52 |
Total operating costs and expenses | 2,955 | 2,245 | 7,929 | 6,046 |
Operating Income | 535 | 86 | 571 | 313 |
Other Income/(Expense) | ' | ' | ' | ' |
Equity in (losses)/earnings of unconsolidated affiliates | -5 | 4 | 6 | 26 |
Other income, net | 5 | 9 | 9 | 12 |
Loss on debt extinguishment | -1 | -41 | -50 | -41 |
Interest expense | -228 | -163 | -630 | -495 |
Total other expense | -229 | -191 | -665 | -498 |
Income/(Loss) Before Income Taxes | 306 | -105 | -94 | -185 |
Income tax expense/(benefit) | 163 | -113 | -47 | -246 |
Net Income/(Loss) | 143 | 8 | -47 | 61 |
Less: Net income attributable to noncontrolling interest | 19 | 9 | 27 | 18 |
Net Income/(Loss) Attributable to NRG Energy, Inc. | 124 | -1 | -74 | 43 |
Dividends for preferred shares | 2 | 2 | 7 | 7 |
Income/(Loss) Available for Common Stockholders | $122 | ($3) | ($81) | $36 |
Earnings/(Loss) Per Share Attributable to NRG Energy, Inc. Common Stockholders | ' | ' | ' | ' |
Weighted average number of common shares outstanding | 323 | 228 | 323 | 228 |
Earnings/(Loss) per Weighted Average Common Share — Basic | $0.38 | ($0.01) | ($0.25) | $0.16 |
Weighted average number of shares outstanding, diluted | 327 | 228 | 323 | 230 |
Net loss per weighted average common share — diluted | $0.37 | ($0.01) | ($0.25) | $0.16 |
Dividends Per Common Share | $0.12 | $0.09 | $0.33 | $0.09 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 |
Net Income/(Loss) | $143 | $8 | ' | ($47) | $61 |
Other Comprehensive (Loss)/Income, net of tax | ' | ' | ' | ' | ' |
Unrealized (loss)/gain on derivatives, net of income tax benefit of $5, $24, $2 and $76 | -16 | -43 | ' | 8 | -132 |
Foreign currency translation adjustments, net of income tax benefit of $1, $0, $13 and $1 | 5 | 1 | ' | -14 | -1 |
Reclassification adjustment for translation gain realized upon sale of Schkopau, net of income tax expense of $0, $6, $0 and $6 | 0 | -11 | ' | 0 | -11 |
Available-for-sale securities, net of income tax expense of $0, $1, $1 and $1 | 0 | 2 | 2 | 2 | 2 |
Defined benefit plans, net of tax expense of $0, $0, $4 and $0 | 0 | 0 | ' | 25 | 0 |
Other comprehensive (loss)/income | -11 | -51 | ' | 21 | -142 |
Comprehensive Income/(Loss) | 132 | -43 | ' | -26 | -81 |
Less: Comprehensive income attributable to noncontrolling interest | -18 | -9 | ' | -26 | -18 |
Comprehensive Income/(Loss) Attributable to NRG Energy, Inc. | 114 | -52 | ' | -52 | -99 |
Dividends for preferred shares | 2 | 2 | ' | 7 | 7 |
Comprehensive Income/(Loss) Available for Common Stockholders | $112 | ($54) | ' | ($59) | ($106) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Comprehensive Loss Income (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Unrealized gain/loss on derivatives, income tax benefit | $5 | $24 | $2 | $76 |
Foreign currency translation adjustments, income tax benefit | 1 | 0 | 13 | 1 |
Reclassification adjustment for translation gain realized upon sale of Schkopau, income tax expense | 0 | 6 | 0 | 6 |
Available-for-sale securities, income tax expense | 0 | 1 | 1 | 1 |
Defined benefit plans, income tax expense | $0 | $0 | $4 | $0 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $2,129 | $2,087 |
Funds deposited by counterparties | 122 | 271 |
Restricted cash | 307 | 217 |
Accounts receivable — trade, less allowance for doubtful accounts of $41 and $32 | 1,366 | 1,061 |
Inventory | 861 | 911 |
Derivative instruments | 1,389 | 2,644 |
Cash collateral paid in support of energy risk management activities | 288 | 229 |
Deferred income taxes | 0 | 56 |
Renewable energy grant receivable | 345 | 58 |
Prepayments and other current assets | 442 | 401 |
Total current assets | 7,249 | 7,935 |
Property, plant and equipment, net of accumulated depreciation of $6,264 and $5,417 | 20,600 | 20,241 |
Other Assets | ' | ' |
Equity investments in affiliates | 626 | 676 |
Notes receivable, less current portion | 76 | 79 |
Goodwill | 1,953 | 1,956 |
Intangible assets, net of accumulated amortization of $1,915 and $1,706 | 1,141 | 1,200 |
Nuclear decommissioning trust fund | 524 | 473 |
Derivative instruments | 506 | 662 |
Deferred income taxes | 1,499 | 1,282 |
Other non-current assets | 689 | 600 |
Total other assets | 7,014 | 6,928 |
Total Assets | 34,863 | 35,104 |
Current Liabilities | ' | ' |
Current portion of long-term debt and capital leases | 911 | 147 |
Accounts payable | 1,140 | 1,171 |
Derivative instruments | 1,064 | 1,981 |
Deferred income taxes | 112 | 0 |
Cash collateral received in support of energy risk management activities | 122 | 271 |
Accrued expenses and other current liabilities | 1,033 | 1,085 |
Total current liabilities | 4,382 | 4,655 |
Other Liabilities | ' | ' |
Long-term debt and capital leases | 15,802 | 15,736 |
Nuclear decommissioning reserve | 290 | 354 |
Nuclear decommissioning trust liability | 303 | 273 |
Deferred income taxes | 50 | 55 |
Derivative instruments | 372 | 500 |
Out-of-market contracts | 1,157 | 1,231 |
Other non-current liabilities | 1,377 | 1,553 |
Total non-current liabilities | 19,351 | 19,702 |
Total Liabilities | 23,733 | 24,357 |
3.625% convertible perpetual preferred stock (at liquidation value, net of issuance costs) | 249 | 249 |
Commitments and Contingencies | ' | ' |
Stockholders’ Equity | ' | ' |
Common stock | 4 | 4 |
Additional paid-in capital | 7,843 | 7,587 |
Retained earnings | 4,272 | 4,459 |
Less treasury stock, at cost — 77,347,528 and 76,505,718 shares, respectively | -1,942 | -1,920 |
Accumulated other comprehensive loss | -129 | -150 |
Noncontrolling interest | 833 | 518 |
Total Stockholders’ Equity | 10,881 | 10,498 |
Total Liabilities and Stockholders’ Equity | $34,863 | $35,104 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Accounts receivable - trade, allowance for doubtful accounts | $41 | $32 |
Property, plant and equipment, accumulated depreciation | 6,264 | 5,417 |
Intangible assets, accumulated amortization | $1,915 | $1,706 |
3.625% convertible perpetual preferred stock, interest rate (as a percentage) | 3.63% | 3.63% |
Treasury stock, shares (in shares) | 77,347,528 | 76,505,718 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash Flows from Operating Activities | ' | ' |
Net Income/(Loss) | ($47) | $61 |
Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | ' | ' |
Distributions and equity in earnings of unconsolidated affiliates | 23 | 8 |
Depreciation and amortization | 921 | 703 |
Provision for bad debts | 49 | 40 |
Amortization of nuclear fuel | 27 | 29 |
Amortization of financing costs and debt discount/premiums | -22 | 25 |
Adjustment to loss on debt extinguishment | -15 | 8 |
Amortization of intangibles and out-of-market contracts | 75 | 108 |
Amortization of unearned equity compensation | 32 | 27 |
Changes in deferred income taxes and liability for uncertain tax benefits | 39 | -261 |
Changes in nuclear decommissioning trust liability | 25 | 25 |
Changes in derivative instruments | 189 | 360 |
Changes in collateral deposits supporting energy risk management activities | -59 | 213 |
Gain on sale of emission allowances | -8 | -3 |
Cash used by changes in other working capital | -406 | -285 |
Net Cash Provided by Operating Activities | 823 | 1,058 |
Cash Flows from Investing Activities | ' | ' |
Acquisitions of businesses, net of cash acquired | -374 | -40 |
Capital expenditures | -1,581 | -2,474 |
Increase in restricted cash, net | -67 | -96 |
(Increase)/decrease in restricted cash to support equity requirements for U.S. DOE funded projects | -20 | 151 |
Increase in notes receivable | -22 | -22 |
Investments in nuclear decommissioning trust fund securities | -369 | -341 |
Proceeds from sales of nuclear decommissioning trust fund securities | 344 | 316 |
Proceeds from renewable energy grants | 52 | 49 |
Proceeds from sale of assets, net of cash disposed of | -13 | -137 |
Other | -7 | -9 |
Net Cash Used by Investing Activities | -2,031 | -2,329 |
Cash Flows from Financing Activities | ' | ' |
Payment of dividends to common and preferred stockholders | -113 | -28 |
Payment for treasury stock | -25 | 0 |
Net receipts from/(payments for) settlement of acquired derivatives that include financing elements | 177 | -65 |
Proceeds from issuance of long-term debt | 1,605 | 2,541 |
Sale proceeds and other contributions from noncontrolling interest in subsidiaries | 504 | 316 |
Proceeds from issuance of common stock | 14 | 0 |
Payment of debt issuance costs | -43 | -30 |
Payments for short and long-term debt | -868 | -955 |
Net Cash Provided by Financing Activities | 1,251 | 1,779 |
Effect of exchange rate changes on cash and cash equivalents | -1 | -3 |
Net Increase in Cash and Cash Equivalents | 42 | 505 |
Cash and Cash Equivalents at Beginning of Period | 2,087 | 1,105 |
Cash and Cash Equivalents at End of Period | $2,129 | $1,610 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Basis of Presentation Disclosure [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
NRG Energy, Inc., or NRG or the Company, is historically a competitive power and energy company that aspires to be a leader in the way residential, industrial and commercial consumers think about, use, produce and deliver energy and energy services in major competitive power markets in the United States. NRG engages in the ownership and operation of power generation facilities; the trading of energy, capacity and related products; the transacting in and trading of fuel and transportation services and the direct sale of energy, services, and innovative, sustainable products to retail customers in competitive markets in which NRG owns generation. The Company sells retail electric products and services under the name “NRG” and various brands owned by NRG. Finally, NRG is a clean energy leader and is focused on the deployment and commercialization of potentially transformative technologies, like electric vehicles, Distributed Solar and smart meter/home automation technology that collectively have the potential to fundamentally change the nature of the power industry, including a substantial change in the role of the national electric transmission grid and distribution system. On December 14, 2012, the Company acquired GenOn as further described in Note 3, Business Acquisitions and Dispositions, and has reported results of operations from the acquisition date forward. | |
The Company formed NRG Yield, Inc. to own and operate a portfolio of contracted generation assets and thermal infrastructure assets that have historically been owned and/or operated by NRG and its subsidiaries. On July 22, 2013, NRG Yield, Inc. closed its initial public offering of 22,511,250 shares of Class A common stock at a price of $22 per share. Net proceeds to NRG Yield, Inc. from the sale of the Class A common stock were approximately $468 million, net of underwriting discounts and commissions of $27 million. The Company retained 42,738,250 shares of Class B common stock of NRG Yield, Inc. As a result, the Company owns a controlling interest in NRG Yield, Inc. and will consolidate this entity for financial reporting purposes. In addition, the Company retained a 65.5% interest in NRG Yield LLC. The initial public offering represented the sale of a 34.5% interest in NRG Yield LLC. NRG Yield LLC's initial assets consist of three natural gas or dual-fired facilities, eight utility-scale solar and wind generation facilities, two portfolios of distributed solar facilities that collectively represent 1,324 net MW, and thermal infrastructure assets with an aggregate steam and chilled water capacity of 1,098 net MWt and electric generation capacity of 123 net MW. The following table represents the structure of NRG Yield, Inc. after the initial public offering: | |
The Company has revised its segment reporting to include an NRG Yield segment, as further described in Note 11, Segment Reporting. | |
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with the SEC's regulations for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. The following notes should be read in conjunction with the accounting policies and other disclosures as set forth in the notes to the financial statements in the Company's 2012 Form 10-K. Interim results are not necessarily indicative of results for a full year. | |
In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements contain all material adjustments consisting of normal and recurring accruals necessary to present fairly the Company's consolidated financial position as of September 30, 2013, and the results of operations, comprehensive income/(loss) and cash flows for the three and nine months ended September 30, 2013, and 2012. | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |
Reclassifications | |
Certain prior year amounts have been reclassified for comparative purposes. The reclassifications did not affect results from operations or cash flows. The Company reclassified certain plant-related expenses from selling, general and administrative to cost of operations and certain general and administrative expenses to development activity expenses. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Significant Accounting Policies [Abstract] | ' | |||
Summary of Significant Accounting Policies | ' | |||
Summary of Significant Accounting Policies | ||||
Development Activity Expenses | ||||
Development activity expenses include project development costs, which are expensed in the preliminary stages of a project and capitalized when the project is deemed to be commercially viable. Commercial viability is determined by one or a series of actions including, among others, Board of Director approval pursuant to a formal project plan that subjects the Company to significant future obligations that can only be discharged by the use of a Company asset. When a project is available for operations, capitalized project development costs are reclassified to property, plant and equipment and amortized on a straight-line basis over the estimated useful life of the project's related assets. Capitalized costs are charged to expense if a project is abandoned or management otherwise determines the costs to be unrecoverable. | ||||
Development activity expenses also include selling, general, and administrative expenses associated with the current operations of certain developing businesses including residential solar, electric vehicles, waste-to-energy, carbon capture and other emerging technologies. The revenue associated with these businesses was immaterial for the three and nine months ended September 30, 2013 and 2012. When it is determined that a business will remain an ongoing part of the Company's operations or when operating revenues become material relative to the operating costs of the underlying business, the Company no longer classifies a business as a development activity. | ||||
Other Cash Flow Information | ||||
NRG’s investing activities exclude capital expenditures of $127 million which were accrued and unpaid at September 30, 2013, primarily for solar projects under construction. | ||||
Noncontrolling Interest | ||||
The following table reflects the changes in NRG's noncontrolling interest balance: | ||||
(In millions) | ||||
Balance as of December 31, 2012 | $ | 518 | ||
Contributions from noncontrolling interest | 289 | |||
Comprehensive income attributable to noncontrolling interest | 26 | |||
Balance as of September 30, 2013 | $ | 833 | ||
The contributions from noncontrolling interest primarily reflect the value of the underlying net assets sold to the NRG Yield, Inc. Class A common shareholders in the initial public offering. The transaction resulted in a gain of $221 million, which was recorded in NRG's additional paid-in capital balance. | ||||
Recent Accounting Developments | ||||
ASU 2011-11 - Effective January 1, 2013, the Company adopted the provisions of ASU No. 2011-11, Balance Sheet (Topic 210) Disclosures about Offsetting Assets and Liabilities, or ASU No. 2011-11, and began providing enhanced disclosures regarding the effect or potential effect of netting arrangements on an entity's financial position by improving information about financial instruments and derivative instruments that either (1) offset in accordance with either ASC 210-20-45 or ASC 810-20-45 or (2) are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset. Reporting entities are required to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. The disclosures required by ASU No. 2011-11 are required to be adopted retroactively. As this guidance provides only disclosure requirements, the adoption of this standard did not impact the Company's results of operations, cash flows or financial position. | ||||
ASU 2013-02 - Effective January 1, 2013, the Company adopted the provisions of ASU No. 2013-02, Other Comprehensive Income (Topic 220) Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, or ASU No. 2013-02, and began reporting the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income within the notes to the financial statements if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income in the same reporting period. For other amounts not required by U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures which provide additional information about the amounts. The provisions of ASU No. 2013-02 are required to be adopted prospectively. As this guidance provides only presentation requirements, the adoption of this standard did not impact the Company's results of operations, cash flows or financial position. |
Business_Acquisitions_and_Disp
Business Acquisitions and Dispositions | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Business Acquisitions and Dispositions [Abstract] | ' | |||||||||||
Business Acquisitions and Dispositions | ' | |||||||||||
Business Acquisitions and Dispositions | ||||||||||||
Pending Acquisition | ||||||||||||
On October 18, 2013, the Company entered into an agreement to acquire substantially all of the assets of Edison Mission Energy, or EME. EME, through its subsidiaries and affiliates, owns, operates, and leases a portfolio of 8,000 MW consisting of wind energy facilities and coal- and gas-fired generating facilities. On December 17, 2012, EME and certain of its direct and indirect subsidiaries filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code, or the Bankruptcy Code. EME was deconsolidated from its parent company, Edison International, for financial statement purposes but not for tax purposes on December 17, 2012. On May 2, 2013, certain other subsidiaries of EME filed voluntary petitions for relief under the Bankruptcy Code. | ||||||||||||
The Company will pay an aggregate purchase price of $2.6 billion (subject to adjustment), which will consist of 12,671,977 shares of NRG common stock (valued at $350 million based upon the volume-weighted average trading price over the 20 trading days prior to October 18, 2013) with the balance to be paid in cash. The Company expects to fund the net cash portion of the purchase price using a combination of cash on hand, including acquired cash on hand of $1.1 billion, and approximately $700 million in newly-issued corporate debt. The Company also expects to assume non-recourse debt of approximately $1.5 billion. | ||||||||||||
In connection with the transaction, NRG has agreed to certain conditions with the parties to the Powerton and Joliet, or POJO, sale-leaseback transaction subject to which an NRG subsidiary will assume the POJO leveraged leases and NRG will guarantee the remaining payments under each lease. In connection with this agreement, NRG has committed to fund up to $350 million in capital expenditures for plant modifications at Powerton and Joliet to install controls to comply with MATS. | ||||||||||||
The acquisition is subject to customary conditions, including approval of the U.S. Bankruptcy Court for the Northern District of Illinois and required regulatory approvals, and is expected to close by the first quarter of 2014. However, EME may continue to solicit alternative transaction proposals from third parties through December 6, 2013. Under certain circumstances, including if EME enters into or seeks approval of an alternative transaction, NRG will receive a cash fee of $65 million plus expense reimbursement. There are no assurances that the conditions to the acquisition of EME will be satisfied, that EME will not seek or enter into an alternative transaction, or that the acquisition of EME will be consummated on the terms agreed to, if at all. | ||||||||||||
Gregory Acquisition | ||||||||||||
On August 7, 2013, NRG Texas Gregory, LLC, a wholly owned subsidiary of NRG, acquired Gregory Power Partners, L.P. for approximately $245 million in cash, net of $32 million cash acquired. Gregory is a cogeneration plant located in Corpus Christi, Texas, which has generation capacity of 388 MW and steam capacity of 160 MWt. The Gregory cogeneration plant provides steam, processed water and a small percentage of its electrical generation to the Corpus Christi Sherwin Alumina plant. The majority of the plant's generation is available for sale in the ERCOT market. The acquisition was recorded as a business combination under ASC 805, with identifiable assets acquired and liabilities assumed provisionally recorded at their estimated fair values on the acquisition date. The purchase price was provisionally allocated primarily to property, plant, and equipment. The initial accounting for the business combination is not complete because the evaluations necessary to assess the fair value of certain net assets acquired are still in process. | ||||||||||||
GenOn Acquisition | ||||||||||||
On December 14, 2012, NRG acquired GenOn Energy, Inc., or GenOn. GenOn, a generator of wholesale electricity, has baseload, intermediate and peaking power generation facilities using coal, natural gas and oil, totaling approximately 21,440 MW. Consideration for the acquisition was valued at $2.2 billion and was comprised of 0.1216 shares of NRG common stock for each outstanding share of GenOn, including restricted stock units outstanding, on the acquisition date, except for fractional shares which were paid in cash. The Company issued 93.9 million shares of NRG common stock, or 29% of total common shares outstanding following the closing of the transaction. The acquisition was recorded as a business combination, with identifiable assets acquired and liabilities assumed provisionally recorded at their estimated fair values on the acquisition date. The initial accounting for the business combination is not complete because the evaluations necessary to assess the fair value of certain net assets acquired are still in process. See Note 3, Business Acquisitions and Dispositions, in the Company's 2012 Form 10-K for additional information related to the GenOn acquisition. | ||||||||||||
The following table summarizes the provisional amounts recognized for assets acquired and liabilities assumed as of the acquisition date as well as adjustments made during the nine months ended September 30, 2013 to the amounts initially recorded in 2012 due to the ongoing evaluation of initial estimates. The measurement period adjustments were recorded as an adjustment to the gain on bargain purchase and did not have a significant impact on the Company's consolidated statements of operations, cash flows or financial position in any period. The allocation of the purchase price may be modified up to one year from the date of the acquisition as more information is obtained about the fair value of assets acquired and liabilities assumed. | ||||||||||||
(In millions) | Amounts Recognized | Measurement Period Adjustments | Amounts Recognized | |||||||||
as of Acquisition Date | as of Acquisition Date | |||||||||||
(as previously reported) | (as adjusted) | |||||||||||
Assets | ||||||||||||
Cash | $ | 983 | $ | — | $ | 983 | ||||||
Current and non-current assets | 1,385 | (18 | ) | 1,367 | ||||||||
Property, plant and equipment | 3,936 | (27 | ) | 3,909 | ||||||||
Derivative assets | 1,157 | — | 1,157 | |||||||||
Deferred income taxes | 2,265 | 21 | 2,286 | |||||||||
Total assets acquired | $ | 9,726 | $ | (24 | ) | $ | 9,702 | |||||
Liabilities | ||||||||||||
Current and non-current liabilities | $ | 1,312 | $ | (7 | ) | $ | 1,305 | |||||
Out-of-market contracts and leases | 1,064 | 15 | 1,079 | |||||||||
Derivative liabilities | 399 | — | 399 | |||||||||
Long-term debt and capital leases | 4,203 | 3 | 4,206 | |||||||||
Total liabilities assumed | 6,978 | 11 | 6,989 | |||||||||
Net assets acquired | 2,748 | (35 | ) | 2,713 | ||||||||
Consideration paid | 2,188 | — | 2,188 | |||||||||
Gain on bargain purchase | $ | 560 | $ | (35 | ) | $ | 525 | |||||
2012 Dispositions | ||||||||||||
Agua Caliente | ||||||||||||
On January 18, 2012, the Company sold a 49% interest in NRG Solar AC Holdings LLC, the indirect owner of the Agua Caliente project, to MidAmerican Energy Holdings Company, or MidAmerican. A majority of the $122 million of cash consideration received at closing represented 49% of construction costs funded by NRG's equity contributions. The excess of the consideration over the carrying value of the divested interest was recorded to additional paid-in capital. MidAmerican will fund its proportionate share of future equity contributions and other credit support for the project. NRG continues to hold a majority interest in and consolidates the project. | ||||||||||||
Saale Energie GmbH | ||||||||||||
On July 17, 2012, the Company sold its 100% interest in Saale Energie GmbH, which holds a 41.9% interest in Kraftwerke Schkopau GbR and a 44.4% interest in Kraftwerke Schkopau Betriebsgesllschaft mbH, collectively, Schkopau. Schkopau holds a fixed 400 MW participation in the 900 MW Schkopau Power Station located in Germany. In connection with the sale of Schkopau, NRG entered into a foreign currency swap contract to hedge the impact of exchange rate fluctuations on the sale proceeds of €141 million. The Company received cash consideration, net of selling expenses, of $174 million, which included $4 million related to the settlement of the swap contract that was recorded as a gain within Other income, net in the quarter ended September 30, 2012. The cash consideration approximated the book value of the net assets, including cash of $38 million, on the date of the sale. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
This footnote should be read in conjunction with the complete description under Note 4, Fair Value of Financial Instruments, to the Company's 2012 Form 10-K. | ||||||||||||||||||||||||||||||||
For cash and cash equivalents, funds deposited by counterparties, accounts and other receivables, accounts payable, restricted cash, and cash collateral paid and received in support of energy risk management activities, the carrying amount approximates fair value because of the short-term maturity of those instruments and are classified as Level 1 within the fair value hierarchy. | ||||||||||||||||||||||||||||||||
The estimated carrying amounts and fair values of NRG's recorded financial instruments not carried at fair market value are as follows: | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Notes receivable (a) | $ | 107 | $ | 107 | $ | 88 | $ | 88 | ||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt, including current portion | 16,699 | 17,061 | 15,866 | 16,492 | ||||||||||||||||||||||||||||
(a) Includes the current portion of notes receivable which is recorded in prepayments and other current assets on the Company's consolidated balance sheets. | ||||||||||||||||||||||||||||||||
The fair value of the Company's publicly-traded long-term debt is based on quoted market prices and is classified as Level 1 within the fair value hierarchy. The fair value of non publicly-traded long-term debt and certain notes receivable of the Company are based on expected future cash flows discounted at market interest rates, or current interest rates for similar instruments with equivalent credit quality, and are classified as Level 3 within the fair value hierarchy. | ||||||||||||||||||||||||||||||||
Recurring Fair Value Measurements | ||||||||||||||||||||||||||||||||
Debt securities, equity securities, and trust fund investments, which are comprised of various U.S. debt and equity securities, and derivative assets and liabilities, are carried at fair market value. | ||||||||||||||||||||||||||||||||
The following tables present assets and liabilities measured and recorded at fair value on the Company's condensed consolidated balance sheets on a recurring basis and their level within the fair value hierarchy: | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||||||||||
(In millions) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||||
Investment in available-for-sale securities (classified within other | ||||||||||||||||||||||||||||||||
non-current assets): | ||||||||||||||||||||||||||||||||
Debt securities | $ | — | $ | — | $ | 15 | $ | 15 | ||||||||||||||||||||||||
Other (a) | 37 | — | — | 37 | ||||||||||||||||||||||||||||
Trust fund investments: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | 2 | — | — | 2 | ||||||||||||||||||||||||||||
U.S. government and federal agency obligations | 51 | 4 | — | 55 | ||||||||||||||||||||||||||||
Federal agency mortgage-backed securities | — | 58 | — | 58 | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | 12 | — | 12 | ||||||||||||||||||||||||||||
Corporate debt securities | — | 60 | — | 60 | ||||||||||||||||||||||||||||
Equity securities | 281 | — | 55 | 336 | ||||||||||||||||||||||||||||
Foreign government fixed income securities | — | 2 | — | 2 | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Commodity contracts | 436 | 1,337 | 111 | 1,884 | ||||||||||||||||||||||||||||
Interest rate contracts | — | 11 | — | 11 | ||||||||||||||||||||||||||||
Total assets | $ | 807 | $ | 1,484 | $ | 181 | $ | 2,472 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Commodity contracts | $ | 344 | $ | 892 | $ | 118 | $ | 1,354 | ||||||||||||||||||||||||
Interest rate contracts | — | 82 | — | 82 | ||||||||||||||||||||||||||||
Total liabilities | $ | 344 | $ | 974 | $ | 118 | $ | 1,436 | ||||||||||||||||||||||||
(a) Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. | ||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||||||||||
(In millions) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||||
Investment in available-for-sale securities (classified within other | ||||||||||||||||||||||||||||||||
non-current assets): | ||||||||||||||||||||||||||||||||
Debt securities | $ | — | $ | — | $ | 12 | $ | 12 | ||||||||||||||||||||||||
Other (a) | 44 | — | — | 44 | ||||||||||||||||||||||||||||
Trust fund investments: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | 10 | — | — | 10 | ||||||||||||||||||||||||||||
U.S. government and federal agency obligations | 34 | — | — | 34 | ||||||||||||||||||||||||||||
Federal agency mortgage-backed securities | — | 59 | — | 59 | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | 9 | — | 9 | ||||||||||||||||||||||||||||
Corporate debt securities | — | 80 | — | 80 | ||||||||||||||||||||||||||||
Equity securities | 233 | — | 47 | 280 | ||||||||||||||||||||||||||||
Foreign government fixed income securities | — | 2 | — | 2 | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Commodity contracts | 1,457 | 1,711 | 135 | 3,303 | ||||||||||||||||||||||||||||
Interest rate contracts | — | 3 | — | 3 | ||||||||||||||||||||||||||||
Total assets | $ | 1,778 | $ | 1,864 | $ | 194 | $ | 3,836 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Commodity contracts | $ | 1,144 | $ | 1,047 | $ | 147 | $ | 2,338 | ||||||||||||||||||||||||
Interest rate contracts | — | 143 | — | 143 | ||||||||||||||||||||||||||||
Total liabilities | $ | 1,144 | $ | 1,190 | $ | 147 | $ | 2,481 | ||||||||||||||||||||||||
(a) Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. | ||||||||||||||||||||||||||||||||
There were no transfers during the three and nine months ended September 30, 2013 and 2012, between Levels 1 and 2. The following tables reconcile, for the three and nine months ended September 30, 2013 and 2012, the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements, at least annually, using significant unobservable inputs: | ||||||||||||||||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Nine months ended September 30, 2013 | |||||||||||||||||||||||||||||||
(In millions) | Debt Securities | Trust Fund Investments | Derivatives(a) | Total | Debt Securities | Trust Fund Investments | Derivatives(a) | Total | ||||||||||||||||||||||||
Beginning balance | $ | 15 | $ | 50 | $ | (12 | ) | $ | 53 | $ | 12 | $ | 47 | $ | (12 | ) | $ | 47 | ||||||||||||||
Total gains/(losses) — realized/unrealized: | ||||||||||||||||||||||||||||||||
Included in earnings | — | — | 14 | 14 | — | — | (4 | ) | (4 | ) | ||||||||||||||||||||||
Included in OCI | — | — | — | — | 3 | — | — | 3 | ||||||||||||||||||||||||
Included in nuclear decommissioning obligations | — | 5 | — | 5 | — | 7 | — | 7 | ||||||||||||||||||||||||
Purchases | — | — | 4 | 4 | — | 1 | (3 | ) | (2 | ) | ||||||||||||||||||||||
Transfers into Level 3 (b) | — | — | (36 | ) | (36 | ) | — | — | (9 | ) | (9 | ) | ||||||||||||||||||||
Transfers out of Level 3 (b) | — | — | 23 | 23 | — | — | 21 | 21 | ||||||||||||||||||||||||
Ending balance as of | $ | 15 | $ | 55 | $ | (7 | ) | $ | 63 | $ | 15 | $ | 55 | $ | (7 | ) | $ | 63 | ||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Gains for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2013 | $ | — | $ | — | $ | (7 | ) | $ | (7 | ) | $ | — | $ | — | $ | (4 | ) | $ | (4 | ) | ||||||||||||
(a) | Consists of derivative assets and liabilities, net. | |||||||||||||||||||||||||||||||
(b) | Transfers in/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. All transfers in/out are with Level 2. | |||||||||||||||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||
(In millions) | Debt Securities | Trust Fund Investments | Derivatives(a) | Total | Debt Securities | Trust Fund Investments | Derivatives(a) | Total | ||||||||||||||||||||||||
Beginning balance | $ | 9 | $ | 43 | $ | 171 | $ | 223 | $ | 7 | $ | 42 | $ | 8 | $ | 57 | ||||||||||||||||
Total (losses)/gains — realized/unrealized: | ||||||||||||||||||||||||||||||||
Included in earnings | — | — | (9 | ) | (9 | ) | — | — | (3 | ) | (3 | ) | ||||||||||||||||||||
Included in OCI | 2 | — | — | 2 | 4 | — | — | 4 | ||||||||||||||||||||||||
Included in nuclear decommissioning obligations | — | 3 | — | 3 | — | 3 | — | 3 | ||||||||||||||||||||||||
Purchases | — | — | (109 | ) | (109 | ) | — | 1 | (1 | ) | — | |||||||||||||||||||||
Transfers into Level 3 (b) | — | — | (31 | ) | (31 | ) | — | — | 4 | 4 | ||||||||||||||||||||||
Transfers out of Level 3 (b) | — | — | (20 | ) | (20 | ) | — | — | (6 | ) | (6 | ) | ||||||||||||||||||||
Ending balance as of | $ | 11 | $ | 46 | $ | 2 | $ | 59 | $ | 11 | $ | 46 | $ | 2 | $ | 59 | ||||||||||||||||
September 30, 2012 | ||||||||||||||||||||||||||||||||
(Losses)/gains for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2012 | $ | — | $ | — | $ | (5 | ) | $ | (5 | ) | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||
(a) | Consists of derivative assets and liabilities, net. | |||||||||||||||||||||||||||||||
(b) | Transfers in/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. All transfers in/out are with Level 2. | |||||||||||||||||||||||||||||||
Realized and unrealized gains and losses included in earnings that are related to the energy derivatives are recorded in operating revenues and cost of operations. | ||||||||||||||||||||||||||||||||
Derivative Fair Value Measurements | ||||||||||||||||||||||||||||||||
A portion of NRG's contracts are exchange-traded contracts with readily available quoted market prices. A majority of NRG's contracts are non-exchange-traded contracts valued using prices provided by external sources, primarily price quotations available through brokers or over-the-counter and on-line exchanges. For the majority of NRG's markets, the Company receives quotes from multiple sources. To the extent that NRG receives multiple quotes, the Company's prices reflect the average of the bid-ask mid-point prices obtained from all sources that NRG believes provide the most liquid market for the commodity. If the Company receives one quote, then the mid-point of the bid-ask spread for that quote is used. The terms for which such price information is available vary by commodity, region and product. A significant portion of the fair value of the Company's derivative portfolio is based on price quotes from brokers in active markets who regularly facilitate those transactions and the Company believes such price quotes are executable. The Company does not use third party sources that derive price based on proprietary models or market surveys. The remainder of the assets and liabilities represent contracts for which external sources or observable market quotes are not available for the whole term or for certain delivery months or the contracts are retail and load following power contracts. These contracts are valued using various valuation techniques including but not limited to internal models that apply fundamental analysis of the market and corroboration with similar markets. As of September 30, 2013, contracts valued with prices provided by models and other valuation techniques make up 6% of the total derivative assets and 8% of the total derivative liabilities. | ||||||||||||||||||||||||||||||||
The fair value of each contract is discounted using a risk free interest rate. In addition, the Company applies a credit reserve to reflect credit risk which is calculated based on published default probabilities. To the extent that NRG's net exposure under a specific master agreement is an asset, the Company uses the counterparty's default swap rate. If the net exposure under a specific master agreement is a liability, the Company uses NRG's default swap rate. The credit reserve is added to the discounted fair value to reflect the exit price that a market participant would be willing to receive to assume NRG's liabilities or that a market participant would be willing to pay for NRG's assets. As of September 30, 2013, the credit reserve resulted in a $1 million decrease in fair value which is composed of a $1 million gain in OCI, and a $2 million loss in operating revenue and cost of operations. As of September 30, 2012, the credit reserve resulted in a $9 million increase in fair value which is composed of a $4 million gain in OCI and a $5 million gain in operating revenue and cost of operations. | ||||||||||||||||||||||||||||||||
Concentration of Credit Risk | ||||||||||||||||||||||||||||||||
In addition to the credit risk discussion as disclosed in Note 2, Summary of Significant Accounting Policies, to the Company's 2012 Form 10-K, the following is a discussion of the concentration of credit risk for the Company's contractual obligations. Credit risk relates to the risk of loss resulting from non-performance or non-payment by counterparties pursuant to the terms of their contractual obligations. NRG is exposed to counterparty credit risk through various activities including wholesale sales, fuel purchases and retail supply arrangements, and retail customer credit risk through its retail load activities. | ||||||||||||||||||||||||||||||||
Counterparty Credit Risk | ||||||||||||||||||||||||||||||||
The Company monitors and manages counterparty credit risk through credit policies that include: (i) an established credit approval process; (ii) daily monitoring of counterparties' credit limits; (iii) the use of credit mitigation measures such as margin, collateral, prepayment arrangements, or volumetric limits; (iv) the use of payment netting arrangements; and (v) the use of master netting agreements that allow for the netting of positive and negative exposures of various contracts associated with a single counterparty. Risk surrounding counterparty performance and credit could ultimately impact the amount and timing of expected cash flows. The Company seeks to mitigate counterparty credit risk with a diversified portfolio of counterparties. The Company also has credit protection within various agreements to call on additional collateral support if and when necessary. Cash margin is collected and held at NRG to cover the credit risk of the counterparty until positions settle. | ||||||||||||||||||||||||||||||||
As of September 30, 2013, counterparty credit exposure, excluding credit risk exposure under certain long term agreements, was $975 million and NRG held collateral (cash and letters of credit) against those positions of $44 million, resulting in a net exposure of $931 million. Approximately 85% of the Company's exposure before collateral is expected to roll off by the end of 2014. Counterparty credit exposure is valued through observable market quotes and discounted at a risk free interest rate. The following tables highlight net counterparty credit exposure by industry sector and by counterparty credit quality. Net counterparty credit exposure is defined as the aggregate net asset position for NRG with counterparties where netting is permitted under the enabling agreement and includes all cash flow, mark-to-market and NPNS, and non-derivative transactions. The exposure is shown net of collateral held, and includes amounts net of receivables or payables. | ||||||||||||||||||||||||||||||||
Net Exposure (a) | ||||||||||||||||||||||||||||||||
Category | (% of Total) | |||||||||||||||||||||||||||||||
Financial institutions | 58 | % | ||||||||||||||||||||||||||||||
Utilities, energy merchants, marketers and other | 34 | |||||||||||||||||||||||||||||||
ISOs | 6 | |||||||||||||||||||||||||||||||
Coal and emissions | 2 | |||||||||||||||||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||||||||||||||||
Net Exposure (a) | ||||||||||||||||||||||||||||||||
Category | (% of Total) | |||||||||||||||||||||||||||||||
Investment grade | 96 | % | ||||||||||||||||||||||||||||||
Non-rated (b) | 4 | |||||||||||||||||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||||||||||||||||
(a) | Counterparty credit exposure excludes uranium and coal transportation contracts because of the unavailability of market prices. | |||||||||||||||||||||||||||||||
(b) | For non-rated counterparties, a significant portion are related to ISO and municipal public power entities, which are considered investment grade equivalent ratings based on NRG's internal credit ratings. | |||||||||||||||||||||||||||||||
NRG has counterparty credit risk exposure to certain counterparties, each of which, represent more than 10% of total net exposure discussed above. The aggregate of such counterparties' exposure was $316 million. Changes in hedge positions and market prices will affect credit exposure and counterparty concentration. Given the credit quality, diversification and term of the exposure in the portfolio, NRG does not anticipate a material impact on the Company's financial position or results of operations from nonperformance by any of NRG's counterparties. | ||||||||||||||||||||||||||||||||
Counterparty credit exposure described above excludes credit risk exposure under certain long term agreements, including California tolling agreements, South Central load obligations, and solar PPAs. As external sources or observable market quotes are not available to estimate such exposure, the Company values these contracts based on various techniques including, but not limited to, internal models based on a fundamental analysis of the market and extrapolation of observable market data with similar characteristics. Based on these valuation techniques, as of September 30, 2013, aggregate credit risk exposure managed by NRG to these counterparties was approximately $2.3 billion, including $649 million related to assets of NRG Yield, Inc., for the next five years. This amount excludes potential credit exposures for projects with long term PPAs that have not reached commercial operations. The majority of these power contracts are with utilities or public power entities with strong credit quality and public utility commission or other regulatory support. However, such regulated utility counterparties can be impacted by changes in government regulations, which NRG is unable to predict. | ||||||||||||||||||||||||||||||||
Retail Customer Credit Risk | ||||||||||||||||||||||||||||||||
NRG is exposed to retail credit risk through the Company's retail electricity providers, which serve commercial, industrial and governmental/institutional customers and the Mass market. Retail credit risk results when a customer fails to pay for products or services rendered. The losses may result from both nonpayment of customer accounts receivable and the loss of in-the-money forward value. NRG manages retail credit risk through the use of established credit policies that include monitoring of the portfolio, and the use of credit mitigation measures such as deposits or prepayment arrangements. | ||||||||||||||||||||||||||||||||
As of September 30, 2013, the Company's retail customer credit exposure was diversified across many customers and various industries, as well as government entities. |
Nuclear_Decommissioning_Trust_
Nuclear Decommissioning Trust Fund | 9 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||
Nuclear Decommissioning Trust Fund Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Nuclear Decommissioning Trust Fund | ' | |||||||||||||||||||||||||
Nuclear Decommissioning Trust Fund | ||||||||||||||||||||||||||
NRG's Nuclear Decommissioning Trust Fund assets are comprised of securities classified as available-for-sale and recorded at fair value based on actively quoted market prices. NRG accounts for the Nuclear Decommissioning Trust Fund in accordance with ASC 980, Regulated Operations, because the Company's nuclear decommissioning activities are subject to approval by the PUCT with regulated rates that are designed to recover all decommissioning costs and that can be charged to and collected from the ratepayers per PUCT mandate. Since the Company is in compliance with PUCT rules and regulations regarding decommissioning trusts and the cost of decommissioning is the responsibility of the Texas ratepayers, not NRG, all realized and unrealized gains or losses (including other-than-temporary impairments) related to the Nuclear Decommissioning Trust Fund are recorded to nuclear decommissioning trust liability and are not included in net income or accumulated other comprehensive income, consistent with regulatory treatment. | ||||||||||||||||||||||||||
The following table summarizes the aggregate fair values and unrealized gains and losses (including other-than-temporary impairments) for the securities held in the trust funds, as well as information about the contractual maturities of those securities. | ||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||
(In millions, except otherwise noted) | Fair Value | Unrealized Gains | Unrealized Losses | Weighted-average Maturities (In years) | Fair Value | Unrealized Gains (a) | Weighted-average Maturities (In years) | |||||||||||||||||||
Cash and cash equivalents | $ | 2 | $ | — | $ | — | — | $ | 10 | $ | — | — | ||||||||||||||
U.S. government and federal agency obligations | 54 | 2 | 1 | 9 | 33 | 2 | 10 | |||||||||||||||||||
Federal agency mortgage-backed securities | 58 | 1 | 1 | 24 | 59 | 2 | 23 | |||||||||||||||||||
Commercial mortgage-backed securities | 12 | — | — | 29 | 9 | — | 30 | |||||||||||||||||||
Corporate debt securities | 60 | 2 | 1 | 9 | 80 | 4 | 11 | |||||||||||||||||||
Equity securities | 336 | 187 | — | — | 280 | 143 | — | |||||||||||||||||||
Foreign government fixed income securities | 2 | — | — | 9 | 2 | — | 6 | |||||||||||||||||||
Total | $ | 524 | $ | 192 | $ | 3 | $ | 473 | $ | 151 | ||||||||||||||||
(a)There were no unrealized losses as of December 31, 2012. | ||||||||||||||||||||||||||
The following table summarizes proceeds from sales of available-for-sale securities and the related realized gains and losses from these sales. The cost of securities sold is determined on the specific identification method. | ||||||||||||||||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||
Realized gains | $ | 10 | $ | 8 | ||||||||||||||||||||||
Realized losses | 7 | 5 | ||||||||||||||||||||||||
Proceeds from sale of securities | 344 | 316 | ||||||||||||||||||||||||
Accounting_for_Derivative_Inst
Accounting for Derivative Instruments and Hedging Activities | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities | ' | |||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities | ||||||||||||||||||||||||
This footnote should be read in conjunction with the complete description under Note 5, Accounting for Derivative Instruments and Hedging Activities, to the Company's 2012 Form 10-K. | ||||||||||||||||||||||||
Energy-Related Commodities | ||||||||||||||||||||||||
As of September 30, 2013, NRG had energy-related derivative financial instruments extending through 2015, which are designated as cash flow hedges. | ||||||||||||||||||||||||
Interest Rate Swaps | ||||||||||||||||||||||||
NRG is exposed to changes in interest rates through the Company's issuance of variable and fixed rate debt. In order to manage the Company's interest rate risk, NRG enters into interest rate swap agreements. As of September 30, 2013, the Company had interest rate derivative instruments on non-recourse debt extending through 2030, the majority of which are designated as cash flow hedges. | ||||||||||||||||||||||||
Volumetric Underlying Derivative Transactions | ||||||||||||||||||||||||
The following table summarizes the net notional volume buy/(sell) of NRG's open derivative transactions broken out by commodity, excluding those derivatives that qualified for the NPNS exception as of September 30, 2013 and December 31, 2012. Option contracts are reflected using delta volume. Delta volume equals the notional volume of an option adjusted for the probability that the option will be in-the-money at its expiration date. | ||||||||||||||||||||||||
Total Volume | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Commodity | Units | (In millions) | ||||||||||||||||||||||
Emissions | Short Ton | (1 | ) | (1 | ) | |||||||||||||||||||
Coal | Short Ton | 42 | 37 | |||||||||||||||||||||
Natural Gas | MMBtu | (215 | ) | (413 | ) | |||||||||||||||||||
Oil | Barrel | — | 1 | |||||||||||||||||||||
Power | MWh | (16 | ) | (14 | ) | |||||||||||||||||||
Interest | Dollars | $ | 1,520 | $ | 2,612 | |||||||||||||||||||
The decrease in the natural gas position was the result of additional purchases entered into during the year to hedge our retail portfolio as well as the settlement of positions during the period. These amounts were slightly offset by natural gas sales entered into during the year to hedge our conventional power generation. The decrease in the interest rate position was primarily the result of the settlement of interest rate swaps. | ||||||||||||||||||||||||
Fair Value of Derivative Instruments | ||||||||||||||||||||||||
The following table summarizes the fair value within the derivative instrument valuation on the balance sheets: | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Derivatives designated as cash flow hedges: | ||||||||||||||||||||||||
Interest rate contracts current | $ | — | $ | — | $ | 27 | $ | 29 | ||||||||||||||||
Interest rate contracts long-term | 8 | 3 | 47 | 96 | ||||||||||||||||||||
Commodity contracts current | — | — | 2 | 3 | ||||||||||||||||||||
Commodity contracts long-term | — | — | 1 | 1 | ||||||||||||||||||||
Total derivatives designated as cash flow hedges | 8 | 3 | 77 | 129 | ||||||||||||||||||||
Derivatives not designated as cash flow hedges: | ||||||||||||||||||||||||
Interest rate contracts current | — | — | 5 | 7 | ||||||||||||||||||||
Interest rate contracts long-term | 3 | — | 3 | 11 | ||||||||||||||||||||
Commodity contracts current | 1,389 | 2,644 | 1,030 | 1,942 | ||||||||||||||||||||
Commodity contracts long-term | 495 | 659 | 321 | 392 | ||||||||||||||||||||
Total derivatives not designated as cash flow hedges | 1,887 | 3,303 | 1,359 | 2,352 | ||||||||||||||||||||
Total derivatives | $ | 1,895 | $ | 3,306 | $ | 1,436 | $ | 2,481 | ||||||||||||||||
The Company has elected to present derivative assets and liabilities on the balance sheet on a trade-by-trade basis and does not offset amounts at the counterparty master agreement level. In addition, collateral received or paid on the Company's derivative assets or liabilities are recorded on a separate line item on the balance sheet. The following table summarizes the offsetting of derivatives by counterparty master agreement level and collateral received or paid: | ||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | ||||||||||||||||||||||||
Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
As of September 30, 2013 | (In millions) | |||||||||||||||||||||||
Commodity contracts: | ||||||||||||||||||||||||
Derivative assets | $ | 1,884 | $ | (1,151 | ) | $ | (195 | ) | $ | 538 | ||||||||||||||
Derivative liabilities | (1,354 | ) | 1,151 | 65 | (138 | ) | ||||||||||||||||||
Total commodity contracts | 530 | — | (130 | ) | 400 | |||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Derivative assets | 11 | (6 | ) | — | 5 | |||||||||||||||||||
Derivative liabilities | (82 | ) | 6 | — | (76 | ) | ||||||||||||||||||
Total interest rate contracts | (71 | ) | — | — | (71 | ) | ||||||||||||||||||
Total derivative instruments | $ | 459 | $ | — | $ | (130 | ) | $ | 329 | |||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | ||||||||||||||||||||||||
Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
As of December 31, 2012 | (In millions) | |||||||||||||||||||||||
Commodity contracts: | ||||||||||||||||||||||||
Derivative assets | $ | 3,303 | $ | (2,024 | ) | $ | (374 | ) | $ | 905 | ||||||||||||||
Derivative liabilities | (2,338 | ) | 2,024 | 28 | (286 | ) | ||||||||||||||||||
Total commodity contracts | 965 | — | (346 | ) | 619 | |||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Derivative assets | 3 | — | — | 3 | ||||||||||||||||||||
Derivative liabilities | (143 | ) | — | — | (143 | ) | ||||||||||||||||||
Total interest rate contracts | (140 | ) | — | — | (140 | ) | ||||||||||||||||||
Total derivative instruments | $ | 825 | $ | — | $ | (346 | ) | $ | 479 | |||||||||||||||
Accumulated Other Comprehensive Income | ||||||||||||||||||||||||
The following table summarizes the effects of ASC 815, Derivatives and Hedging, or ASC 815, on the Company's accumulated OCI balance attributable to cash flow hedge derivatives, net of tax: | ||||||||||||||||||||||||
Three months ended September 30, 2013 | Nine months ended September 30, 2013 | |||||||||||||||||||||||
Energy Commodities | Interest Rate | Total | Energy Commodities | Interest Rate | Total | |||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Accumulated OCI beginning balance | $ | 24 | $ | (31 | ) | $ | (7 | ) | $ | 41 | $ | (72 | ) | $ | (31 | ) | ||||||||
Reclassified from accumulated OCI to income: | ||||||||||||||||||||||||
Due to realization of previously deferred amounts | (15 | ) | 2 | (13 | ) | (38 | ) | 6 | (32 | ) | ||||||||||||||
Mark-to-market of cash flow hedge accounting contracts | 1 | (4 | ) | (3 | ) | 7 | 33 | 40 | ||||||||||||||||
Accumulated OCI ending balance, net of $13 tax | $ | 10 | $ | (33 | ) | $ | (23 | ) | $ | 10 | $ | (33 | ) | $ | (23 | ) | ||||||||
Gains/(losses) expected to be realized from OCI during the next 12 months, net of $1 tax | $ | 11 | $ | (9 | ) | $ | 2 | $ | 11 | $ | (9 | ) | $ | 2 | ||||||||||
Gains recognized in income from the ineffective portion of cash flow hedges | $ | 1 | $ | — | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||
Three months ended September 30, 2012 | Nine months ended September 30, 2012 | |||||||||||||||||||||||
Energy Commodities | Interest Rate | Total | Energy Commodities | Interest Rate | Total | |||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Accumulated OCI beginning balance | $ | 111 | $ | (68 | ) | $ | 43 | $ | 188 | $ | (56 | ) | $ | 132 | ||||||||||
Reclassified from accumulated OCI to income: | ||||||||||||||||||||||||
Due to realization of previously deferred amounts | (30 | ) | 3 | (27 | ) | (106 | ) | 11 | (95 | ) | ||||||||||||||
Mark-to-market of cash flow hedge accounting contracts | (1 | ) | (15 | ) | (16 | ) | (2 | ) | (35 | ) | (37 | ) | ||||||||||||
Accumulated OCI ending balance, net of $12 tax | $ | 80 | $ | (80 | ) | $ | — | $ | 80 | $ | (80 | ) | $ | — | ||||||||||
Gains/(losses) expected to be realized from OCI during the next 12 months, net of $38 tax | $ | 77 | $ | (11 | ) | $ | 66 | $ | 77 | $ | (11 | ) | $ | 66 | ||||||||||
Losses recognized in income from the ineffective portion of cash flow hedges | $ | — | $ | — | $ | — | $ | (51 | ) | $ | — | $ | (51 | ) | ||||||||||
Amounts reclassified from accumulated OCI into income and amounts recognized in income from the ineffective portion of cash flow hedges are recorded to operating revenue for commodity contracts and interest expense for interest rate contracts. | ||||||||||||||||||||||||
Impact of Derivative Instruments on the Statements of Operations | ||||||||||||||||||||||||
Unrealized gains and losses associated with changes in the fair value of derivative instruments not accounted for as cash flow hedges and ineffectiveness of hedge derivatives are reflected in current period earnings. | ||||||||||||||||||||||||
The following table summarizes the pre-tax effects of economic hedges that have not been designated as cash flow hedges, ineffectiveness on cash flow hedges and trading activity on the Company's statement of operations. The effect of commodity hedges is included within operating revenues and cost of operations and the effect of interest rate hedges is included in interest expense. | ||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Unrealized mark-to-market results | (In millions) | |||||||||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to economic hedges | $ | (48 | ) | $ | (85 | ) | $ | (80 | ) | $ | (160 | ) | ||||||||||||
Reversal of (gain)/loss positions acquired as part of the Reliant Energy, Green Mountain Energy and GenOn acquisitions | (82 | ) | (15 | ) | (269 | ) | 5 | |||||||||||||||||
Net unrealized gains/(losses) on open positions related to economic hedges | 76 | (159 | ) | 131 | (78 | ) | ||||||||||||||||||
Gains/(losses) on ineffectiveness associated with open positions treated as | 1 | — | — | (51 | ) | |||||||||||||||||||
cash flow hedges | ||||||||||||||||||||||||
Total unrealized mark-to-market losses for economic hedging activities | (53 | ) | (259 | ) | (218 | ) | (284 | ) | ||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to trading activity | (13 | ) | (15 | ) | (42 | ) | (45 | ) | ||||||||||||||||
Reversal of gain positions acquired as part of the GenOn acquisitions | (2 | ) | — | (2 | ) | — | ||||||||||||||||||
Net unrealized gains/(losses) on open positions related to trading activity | 26 | (3 | ) | — | 33 | |||||||||||||||||||
Total unrealized mark-to-market gains/(losses) for trading activity | 11 | (18 | ) | (44 | ) | (12 | ) | |||||||||||||||||
Total unrealized losses | $ | (42 | ) | $ | (277 | ) | $ | (262 | ) | $ | (296 | ) | ||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Unrealized losses included in operating revenues | $ | (64 | ) | $ | (395 | ) | $ | (404 | ) | $ | (470 | ) | ||||||||||||
Unrealized gains included in cost of operations | 22 | 118 | 142 | 174 | ||||||||||||||||||||
Total impact to statement of operations — energy commodities | $ | (42 | ) | $ | (277 | ) | $ | (262 | ) | $ | (296 | ) | ||||||||||||
Total impact to statement of operations — interest rate contracts | $ | 4 | $ | — | $ | 10 | $ | (12 | ) | |||||||||||||||
The reversal of gain or loss positions acquired as part of the Reliant Energy, Green Mountain Energy and GenOn acquisitions were valued based upon the forward prices on the acquisition dates. | ||||||||||||||||||||||||
For the nine months ended September 30, 2013, the unrealized gain from open economic hedge positions was primarily the result of an increase in value of forward sales of natural gas and electricity due to a decrease in forward natural gas and electricity prices. | ||||||||||||||||||||||||
As of June 30, 2013, NRG had interest rate swaps designated as cash flow hedges on the CVSR solar project. The notional amount on the swaps exceeded the actual debt draws on the project. As such, NRG discontinued cash flow hedge accounting for these contracts and $5 million of loss previously deferred in OCI was recognized in earnings for the nine months ended September 30, 2013. | ||||||||||||||||||||||||
For the nine months ended September 30, 2012, the unrealized loss from open economic hedge positions was primarily the result of a decrease in forward coal prices. | ||||||||||||||||||||||||
As of June 30, 2012, NRG had interest rate swaps designated as cash flow hedges on the Alpine solar project. The notional amount on the swaps exceeded the actual debt draws on the project. As such, NRG discontinued cash flow hedge accounting for these contracts and $4 million of loss previously deferred in OCI was recognized in earnings for the nine months ended September 30, 2012. | ||||||||||||||||||||||||
Credit Risk Related Contingent Features | ||||||||||||||||||||||||
Certain of the Company's hedging agreements contain provisions that require the Company to post additional collateral if the counterparty determines that there has been deterioration in credit quality, generally termed “adequate assurance” under the agreements, or requires the Company to post additional collateral if there were a one notch downgrade in the Company's credit rating. The collateral required for contracts with adequate assurance clauses that are in a net liability position as of September 30, 2013 was $103 million. The collateral required for contracts with credit rating contingent features was $39 million. The Company is also a party to certain marginable agreements where NRG has a net liability position, but the counterparty has not called for the collateral due, which was approximately $15 million as of September 30, 2013. | ||||||||||||||||||||||||
See Note 4, Fair Value of Financial Instruments, to this Form 10-Q for discussion regarding concentration of credit risk. |
Debt_and_Capital_Leases
Debt and Capital Leases | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Long Term Debt Disclosure [Abstract] | ' | ||||||||||
Debt and Capital Leases | ' | ||||||||||
Debt and Capital Leases | |||||||||||
This footnote should be read in conjunction with the complete description under Note 11, Debt and Capital Leases, to the Company's 2012 Form 10-K. | |||||||||||
Long-term debt and capital leases consisted of the following: | |||||||||||
September 30, 2013 | December 31, 2012 | Current interest rate % (a) | |||||||||
(In millions, except rates) | |||||||||||
NRG recourse debt: | |||||||||||
Senior notes, due 2018 | $ | 1,130 | $ | 1,200 | 7.625 | ||||||
Senior notes, due 2019 | 800 | 800 | 7.625 | ||||||||
Senior notes, due 2019 | 601 | 693 | 8.5 | ||||||||
Senior notes, due 2020 | 1,063 | 1,100 | 8.25 | ||||||||
Senior notes, due 2021 | 1,128 | 1,128 | 7.875 | ||||||||
Senior notes, due 2023 | 990 | 990 | 6.625 | ||||||||
Term loan facility, due 2018 | 2,006 | 1,573 | L+2.00 | ||||||||
Indian River Power LLC, tax-exempt bonds, due 2040 and 2045 | 247 | 247 | 5.375 - 6.000 | ||||||||
Dunkirk Power LLC, tax-exempt bonds, due 2042 | 59 | 59 | 5.875 | ||||||||
Fort Bend County, tax-exempt bonds, due 2038 and 2042 | 67 | 28 | 4.75 | ||||||||
Subtotal NRG Recourse Debt | 8,091 | 7,818 | |||||||||
NRG non-recourse debt: | |||||||||||
GenOn senior notes, due 2014 | — | 617 | 7.625 | ||||||||
GenOn senior notes, due 2017 | 787 | 800 | 7.875 | ||||||||
GenOn senior notes, due 2018 | 785 | 801 | 9.5 | ||||||||
GenOn senior notes, due 2020 | 624 | 631 | 9.875 | ||||||||
GenOn Americas Generation senior notes, due 2021 | 504 | 509 | 8.5 | ||||||||
GenOn Americas Generation senior notes, due 2031 | 435 | 437 | 9.125 | ||||||||
NRG Marsh Landing, due 2017 and 2023 | 500 | 390 | L+2.50 - 2.75 | ||||||||
CVSR - High Plains Ranch II LLC, due 2013 and 2037 | 1,104 | 786 | 0.611 - 3.579 | ||||||||
NRG West Holdings LLC, due 2023 | 475 | 350 | L+2.25 - 2.75 | ||||||||
Agua Caliente Solar LLC, due 2037 | 764 | 640 | 2.395 - 3.473 | ||||||||
Ivanpah Financing, due 2014 and 2038 | 1,561 | 1,437 | 1.116 - 4.256 | ||||||||
South Trent Wind LLC, due 2020 | 69 | 72 | L+2.625 | ||||||||
NRG Peaker Finance Co. LLC, bonds, due 2019 | 176 | 173 | L+1.07 | ||||||||
NRG Energy Center Minneapolis LLC, senior secured notes, due 2013, 2017 and 2025 | 129 | 137 | 5.95 - 7.25 | ||||||||
NRG Solar Alpine LLC, due 2013 and 2022 | 223 | 2 | L+2.25 - 2.50 | ||||||||
NRG Solar Borrego I LLC, due 2024 and 2038 | 79 | — | L+2.50/5.65 | ||||||||
NRG Solar Avra Valley LLC | 64 | 66 | L+2.25 | ||||||||
TA - High Desert LLC, due 2013, 2023 and 2033 | 82 | — | L+2.50/5.15 | ||||||||
NRG Solar Kansas South LLC, due 2013 and 2031 | 59 | — | L+2.00 - 2.625 | ||||||||
Other | 188 | 200 | various | ||||||||
Subtotal NRG Non-Recourse Debt | 8,608 | 8,048 | |||||||||
Subtotal long-term debt (including current maturities) | 16,699 | 15,866 | |||||||||
Capital leases: | |||||||||||
Chalk Point capital lease, due 2015 | 11 | 14 | 8.19 | ||||||||
Other | 3 | 3 | various | ||||||||
Subtotal long-term debt and capital leases (including current maturities) | 16,713 | 15,883 | |||||||||
Less current maturities | 911 | 147 | |||||||||
Total long-term debt and capital leases | $ | 15,802 | $ | 15,736 | |||||||
(a) As of September 30, 2013, L+ equals 3 month LIBOR plus x%, with the exception of NRG Solar Alpine LLC cash grant loan and NRG Solar Kansas South LLC cash grant bridge loan which are 1 month LIBOR plus x% and NRG Solar Kansas South LLC term loan which is 6 month LIBOR plus x%. | |||||||||||
NRG Recourse Debt | |||||||||||
Senior Credit Facility | |||||||||||
On June 4, 2013, NRG amended the Term Loan Facility to (i) obtain additional financing of $450 million, which was issued at a discount of 99.5%; and (ii) adjust the interest rate from LIBOR plus 2.50% to LIBOR plus 2.00%. In addition, the Company redeemed and re-issued $407 million of the Term Loan Facility to new lenders resulting in a $7 million loss on debt extinguishment, recorded during the three months ended June 30, 2013, which primarily consisted of the write-off of previously deferred financing costs and unamortized discount. The proceeds from the additional $450 million borrowed were used for general corporate purposes. Debt issuance costs of $23 million and a discount on debt issuance of $4 million will be amortized to interest expense through the maturity date of the Term Loan Facility. | |||||||||||
The Company also amended the Revolving Credit Facility to (i) increase the capacity by $211 million to a total of $2.5 billion; (ii) adjust the interest rate to LIBOR plus 2.25%; and (iii) extend the maturity date to July 1, 2018 to coincide with the maturity date of the Term Loan Facility. As a result of the amended Revolving Credit Facility, the Company capitalized debt issuance costs of $4 million, which will be amortized to interest expense through the maturity date of the Revolving Credit Facility. A $3 million loss on debt extinguishment was recorded during the three months ended June 30, 2013 related to the write-off of previously deferred financing costs. | |||||||||||
Senior Notes Repurchases | |||||||||||
On December 17, 2012, NRG entered into an agreement with a financial institution to repurchase up to $200 million of the Senior Notes in the open market by February 27, 2013. In the first quarter of 2013, the Company paid $80 million, $104 million, and $42 million, at an average price of 114.179%, 111.700%, and 113.082% of face value, for repurchases of the Company's 2018 Senior Notes, 2019 Senior Notes and 2020 Senior Notes, respectively. A $28 million loss on the debt extinguishment of the 2018 Senior Notes, 2019 Senior Notes and 2020 Senior Notes was recorded during the three months ended March 31, 2013 which primarily consisted of the premiums paid on the repurchases and the write-off of previously deferred financing costs. | |||||||||||
NRG Non-Recourse Debt | |||||||||||
Redemption of GenOn Senior Notes | |||||||||||
In June 2013, the Company redeemed all of the 2014 GenOn Senior Notes with an aggregate outstanding principal amount of $575 million at a redemption price of 106.778% of face value as well as any accrued and unpaid interest as of the redemption date. In connection with the redemption, an $11 million loss on the debt extinguishment of the 2014 GenOn Senior Notes was recorded during the three months ended June 30, 2013 which primarily consisted of a make whole premium payment offset by the write-off of unamortized premium. | |||||||||||
Kansas South Facility | |||||||||||
In the second quarter of 2013, the Company, through its wholly owned subsidiary, NRG Solar PV LLC, acquired Kansas South, a 20 MW utility-scale photovoltaic solar facility located in Kings County, California, shortly before commercial operation. In June 2013, NRG recorded $59 million of non-recourse project level debt under the Kansas South Facility which includes a $38 million term loan due 2031 and a $21 million cash grant bridge loan due the earlier of 10 days after receipt of the cash grant or March 2014. The term loan has an interest rate of 6 month LIBOR plus an applicable margin of 2.625% and increases by 0.25% every four years. The cash grant bridge loan has an interest rate of 1 month LIBOR plus an applicable margin of 2.00%. The term loan amortizes on a predetermined schedule and is secured by all of the assets of Kansas South. As of September 30, 2013, $4 million of letters of credit were issued under the Kansas South Facility. | |||||||||||
NRG Repowering Holdings LLC Facility | |||||||||||
In June 2013, $82 million of letters of credit issued under the NRG Repowering Holdings LLC Facility were returned to the Company. In July 2013, the NRG Repowering Holding LLC Facility was terminated and the Company issued replacement letters of credit under its Revolving Credit Facility. | |||||||||||
Marsh Landing Credit Agreement Term Conversion | |||||||||||
In May 2013, Marsh Landing met the conditions under the credit agreement to convert the construction loan for the facility to a term loan, which will amortize on a predetermined basis. Prior to term conversion, the Company drew the remaining funds available under the facility in order to pay costs due for construction. The Company issued a $26 million letter of credit under the facility in support of its debt service requirements. | |||||||||||
Alpine Financing | |||||||||||
In March 2012, NRG Solar Alpine LLC, or Alpine, entered into a credit agreement with a group of lenders for a $166 million construction loan that will convert to a term loan upon completion of the project and a $68 million cash grant loan. In January 2013, the credit agreement was amended reducing the cash grant loan to $63 million. In March 2013, Alpine met the conditions under the credit agreement to convert the construction loan for the facility to a term loan. Immediately prior to the conversion, the Company drew an additional $164 million under the construction loan and $62 million under the cash grant loan. The term loan amortizes on a predetermined schedule with final maturity in November 2022. As of September 30, 2013, $161 million was outstanding under the term loan, $62 million under the cash grant loan, and $37 million of letters of credit were issued under the credit agreement. | |||||||||||
Borrego Financing | |||||||||||
In March 2013, NRG Solar Borrego I LLC, or Borrego, entered into a credit agreement with a group of lenders, or the Borrego Financing Agreement, for $45 million of 5.65% fixed rate notes and a $36 million term loan. The term loan has an interest rate of 3 month LIBOR plus an applicable margin of 2.50%, which escalates 0.25% on the fourth and eighth anniversary of the closing date. The fixed rate notes mature in February 2038 and the term loan matures in December 2024. Both amortize based upon predetermined schedules. The Borrego Financing Agreement also includes a letter of credit facility on behalf of Borrego of up to $5 million. Borrego pays an availability fee of 100% of the applicable margin on issued letters of credit. As of September 30, 2013, $45 million was outstanding under the fixed rate notes, $34 million was outstanding under the term loan, and $5 million of letters of credit in support of the project were issued. | |||||||||||
Under the terms of the Borrego Financing Agreement, on March 28, 2013, Borrego was required to enter into two fixed for floating interest rate swaps that would fix the interest rate for a minimum of 75% of the outstanding notional amount. Borrego will pay its counterparty the equivalent of a 1.125% fixed interest payment on a predetermined notional value, and Borrego will receive quarterly the equivalent of a floating interest payment based on a 3 month LIBOR calculated on the same notional value through June 30, 2020. All interest rate swap payments by Borrego and its counterparties are made quarterly and the LIBOR rate is determined in advance of each interest period. The original notional amount of the swaps, which became effective April 3, 2013, is $15 million and will amortize in proportion to the term loan. | |||||||||||
High Desert Facility | |||||||||||
In the first quarter of 2013, the Company, through its wholly owned subsidiary, NRG Solar PV LLC, acquired High Desert, a 20 MW utility-scale photovoltaic solar facility located in Lancaster, California, shortly before commercial operation. As part of the acquisition of High Desert, NRG recorded $82 million of non-recourse project level debt in March 2013 issued under the High Desert Facility which is comprised of $53 million of fixed rate notes due 2033 at an interest rate of 5.15%, $7 million of floating rate notes due 2023, $22 million of bridge notes due the earlier of 10 days after receipt of the cash grant or February 2014 and a revolving facility of $12 million. The floating rate notes, bridge notes and revolving facility have an interest rate of 3 month LIBOR plus 2.50%. The revolving facility can be used for cash or for the issuance of up to $9 million in letters of credit. As of September 30, 2013, $9 million of letters of credit were issued under the revolving facility. The notes amortize on predetermined schedules and are secured by all of the assets of High Desert. | |||||||||||
NRG Yield Revolving Credit Facility | |||||||||||
In connection with the initial public offering of Class A common stock of NRG Yield, Inc. in July 2013, as further described in Note 1, Basis of Presentation, NRG Yield LLC and its direct wholly owned subsidiary, NRG Yield Operating LLC, entered into a senior secured revolving credit facility, which provides a revolving line of credit of $60 million. The NRG Yield revolving credit facility can be used for cash or for the issuance of letters of credit. There was no cash drawn or letters of credit issued under the NRG Yield revolving credit facility as of September 30, 2013. |
Variable_Interest_Entities
Variable Interest Entities | 9 Months Ended |
Sep. 30, 2013 | |
Variable Interest Entities Disclosure [Abstract] | ' |
Variable Interest Entity | ' |
Variable Interest Entities | |
NRG has interests in entities that are considered VIEs under ASC 810, Consolidation, but NRG is not considered the primary beneficiary. NRG accounts for its interests in these entities under the equity method of accounting. | |
GenConn Energy LLC — Through its subsidiary, NRG Connecticut Peaking Development LLC, NRG owns a 50% interest in GenConn, a limited liability company which owns and operates two 190 MW peaking generation facilities in Connecticut at NRG's Devon and Middletown sites. NRG's maximum exposure to loss is limited to its equity investment, which was $118 million as of September 30, 2013. | |
Sherbino I Wind Farm LLC — NRG owns a 50% interest in Sherbino, a joint venture with BP Wind Energy North America Inc. NRG's maximum exposure to loss is limited to its equity investment, which was $88 million as of September 30, 2013. | |
Texas Coastal Ventures LLC — NRG owns a 50% interest in Texas Coastal Ventures, a joint venture with Hilcorp Energy I, L.P., through its subsidiary Petra Nova LLC. NRG's maximum exposure to loss is limited to its equity investment, which was $63 million as of September 30, 2013. |
Changes_in_Capital_Structure
Changes in Capital Structure | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Changes in Capital Structure Disclosure [Abstract] | ' | |||||||||||
Changes in Capital Structure | ' | |||||||||||
Changes in Capital Structure | ||||||||||||
As of September 30, 2013 and December 31, 2012, the Company had 500,000,000 shares of common stock authorized. The following table reflects the changes in NRG's common shares issued and outstanding: | ||||||||||||
Issued | Treasury | Outstanding | ||||||||||
Balance as of December 31, 2012 | 399,112,616 | (76,505,718 | ) | 322,606,898 | ||||||||
Shares issued under LTIP | 1,562,480 | — | 1,562,480 | |||||||||
Shares issued under ESPP | — | 130,482 | 130,482 | |||||||||
Shares repurchased under Capital Allocation Program | — | (972,292 | ) | (972,292 | ) | |||||||
Balance as of September 30, 2013 | 400,675,096 | (77,347,528 | ) | 323,327,568 | ||||||||
As discussed in Note 3, Business Acquisition and Dispositions, the Company announced its intention to issue 12,671,977 shares of NRG common stock in connection with the acquisition of EME, expected to close in the first quarter of 2014. | ||||||||||||
2013 Capital Allocation Program | ||||||||||||
In 2013, the Company increased its annual common stock dividend by 33%, to $0.48 per share. The following table lists the dividends paid during 2013: | ||||||||||||
First Quarter 2013 | Second Quarter 2013 | Third Quarter 2013 | ||||||||||
Dividends per Common Share | $ | 0.09 | $ | 0.12 | $ | 0.12 | ||||||
On October 16, 2013, NRG declared a quarterly dividend on the Company's common stock of $0.12 per share, payable on November 15, 2013, to shareholders of record as of November 1, 2013. | ||||||||||||
In addition, the Company is authorized to repurchase $200 million of its common stock in 2013 under the 2013 Capital Allocation Program. During the first quarter, the Company purchased 972,292 shares of NRG common stock for approximately $25 million at an average cost of $25.88 per share. As a result of the proposed acquisition of EME, the Company has not completed the remaining $175 million of share repurchases under the 2013 Capital Allocation Program and does not expect to do so through the remainder of the 2013 fiscal year. | ||||||||||||
The Company's common stock dividend and share repurchases are subject to available capital, market conditions, and compliance with associated laws and regulations. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings (Loss) Per Share Disclosure [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
Earnings/(Loss) Per Share | ||||||||||||||||
Basic earnings/(loss) per common share is computed by dividing net income/(loss) less accumulated preferred stock dividends by the weighted average number of common shares outstanding. Shares issued and treasury shares repurchased during the year are weighted for the portion of the year that they were outstanding. Diluted earnings/(loss) per share is computed in a manner consistent with that of basic earnings/(loss) per share while giving effect to all potentially dilutive common shares that were outstanding during the period. | ||||||||||||||||
The reconciliation of NRG's basic and diluted earnings/(loss) per share is shown in the following table: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
(In millions, except per share data) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Basic earnings/(loss) per share attributable to NRG common stockholders | ||||||||||||||||
Net income/(loss) attributable to NRG Energy, Inc. | $ | 124 | $ | (1 | ) | $ | (74 | ) | $ | 43 | ||||||
Dividends for preferred shares | 2 | 2 | 7 | 7 | ||||||||||||
Income/(loss) Available for Common Stockholders | $ | 122 | $ | (3 | ) | $ | (81 | ) | $ | 36 | ||||||
Weighted average number of common shares outstanding | 323 | 228 | 323 | 228 | ||||||||||||
Earnings/(loss) per weighted average common share — basic | $ | 0.38 | $ | (0.01 | ) | $ | (0.25 | ) | $ | 0.16 | ||||||
Diluted earnings/(loss) per share attributable to NRG common stockholders | ||||||||||||||||
Weighted average number of common shares outstanding | 323 | 228 | 323 | 228 | ||||||||||||
Incremental shares attributable to the issuance of equity compensation (treasury stock method) | 4 | — | — | 2 | ||||||||||||
Total dilutive shares | 327 | 228 | 323 | 230 | ||||||||||||
Earnings/(loss) per weighted average common share — diluted | $ | 0.37 | $ | (0.01 | ) | $ | (0.25 | ) | $ | 0.16 | ||||||
The following table summarizes NRG’s outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company’s diluted earnings/(loss) per share: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
(In millions of shares) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Equity compensation plans | 2 | 11 | 10 | 6 | ||||||||||||
Embedded derivative of 3.625% redeemable perpetual preferred stock | 16 | 16 | 16 | 16 | ||||||||||||
Total | 18 | 27 | 26 | 22 | ||||||||||||
Segment_Reporting
Segment Reporting | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||
Segment Reporting | ' | |||||||||||||||||||||||||||||||||||||||||||
Segment Reporting | ||||||||||||||||||||||||||||||||||||||||||||
Effective June 2013, the Company's segment structure and its allocation of corporate expenses were updated to reflect how management currently makes financial decisions and allocates resources. The Company has recast data from prior periods to reflect this change in reportable segments to conform to the current year presentation. The Company's businesses are primarily segregated based on the Retail Business, conventional power generation, alternative energy businesses, NRG Yield, and corporate activities. Within NRG's conventional power generation, there are distinct components with separate operating results and management structures for the following geographical regions: Texas, East, South Central, West and Other, which includes international businesses and maintenance services. The Company's alternative energy segment includes solar and wind assets, excluding those in the NRG Yield segment, electric vehicle services and the carbon capture business. NRG Yield includes certain of the Company's contracted generation assets including three natural gas or dual-fired facilities, eight utility-scale solar and wind generation facilities, two portfolios of distributed solar facilities and thermal infrastructure assets. Intersegment sales are accounted for at market. | ||||||||||||||||||||||||||||||||||||||||||||
(In millions) | Conventional Power Generation | |||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Retail(a) | Texas(a) | East(a) | South(a) | West(a) | Other(a) | Alternative Energy(a) | NRG Yield(a) | Corporate(a)(b) | Elimination | Total | |||||||||||||||||||||||||||||||||
Central | ||||||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 1,994 | $ | 881 | $ | 1,011 | $ | 244 | $ | 134 | $ | 38 | $ | 83 | $ | 95 | $ | — | $ | (990 | ) | $ | 3,490 | |||||||||||||||||||||
Depreciation and amortization | 37 | 116 | 79 | 24 | 13 | 1 | 27 | 16 | 5 | — | 318 | |||||||||||||||||||||||||||||||||
Equity in earnings/(losses) of unconsolidated affiliates | — | — | — | 1 | (10 | ) | — | (3 | ) | 12 | — | (5 | ) | (5 | ) | |||||||||||||||||||||||||||||
(Loss)/income before income taxes | (60 | ) | 265 | 245 | 17 | 30 | 1 | 1 | 45 | (217 | ) | (21 | ) | 306 | ||||||||||||||||||||||||||||||
Net (loss)/income attributable to NRG Energy, Inc. | $ | (60 | ) | $ | 265 | $ | 245 | $ | 17 | $ | 30 | $ | 1 | $ | (21 | ) | $ | 31 | $ | (375 | ) | $ | (9 | ) | $ | 124 | ||||||||||||||||||
Total assets as of September 30, 2013 | $ | 4,296 | $ | 11,914 | $ | 8,329 | $ | 2,290 | $ | 1,553 | $ | 461 | $ | 6,162 | $ | 2,331 | $ | 4,863 | $ | (7,336 | ) | $ | 34,863 | |||||||||||||||||||||
(a) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 2 | $ | 910 | $ | 55 | $ | — | $ | — | $ | 15 | $ | 8 | $ | — | $ | — | ||||||||||||||||||||||||||
(b) Includes loss on debt extinguishment of $1 million. | ||||||||||||||||||||||||||||||||||||||||||||
(In millions) | Conventional Power Generation | |||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Retail(c) | Texas(c) | East(c) | South(c) | West(c) | Other(c) | Alternative Energy(c) | NRG Yield(c) | Corporate(c)(d) | Elimination | Total | |||||||||||||||||||||||||||||||||
Central | ||||||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 1,856 | $ | 877 | $ | 274 | $ | 270 | $ | 87 | $ | 28 | $ | 49 | $ | 47 | $ | 4 | $ | (1,161 | ) | $ | 2,331 | |||||||||||||||||||||
Depreciation and amortization | 41 | 115 | 32 | 23 | 3 | 1 | 15 | 6 | 3 | — | 239 | |||||||||||||||||||||||||||||||||
Equity in earnings/(losses) of unconsolidated affiliates | — | — | — | — | 4 | 3 | (9 | ) | 6 | — | — | 4 | ||||||||||||||||||||||||||||||||
(Loss)/income before income taxes | (300 | ) | 299 | 30 | 19 | 35 | 5 | (8 | ) | 12 | (197 | ) | — | (105 | ) | |||||||||||||||||||||||||||||
Net (loss)/income attributable to NRG Energy, Inc. | $ | (300 | ) | $ | 299 | $ | 30 | $ | 19 | $ | 35 | $ | 5 | $ | (16 | ) | $ | 4 | $ | (77 | ) | $ | — | $ | (1 | ) | ||||||||||||||||||
(c) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 3 | $ | 1,126 | $ | 6 | $ | — | $ | — | $ | 12 | $ | 10 | $ | — | $ | 4 | ||||||||||||||||||||||||||
(d) Includes loss on debt extinguishment of $41 million. | ||||||||||||||||||||||||||||||||||||||||||||
(In millions) | Conventional Power Generation | |||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Retail(e) | Texas(e) | East(e) | South(e) | West(e) | Other(e) | Alternative Energy(e) | NRG Yield(e) | Corporate(e)(f) | Elimination | Total | |||||||||||||||||||||||||||||||||
Central | ||||||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 4,760 | $ | 1,712 | $ | 2,432 | $ | 656 | $ | 347 | $ | 110 | $ | 177 | $ | 227 | $ | 9 | $ | (1,930 | ) | $ | 8,500 | |||||||||||||||||||||
Depreciation and amortization | 105 | 340 | 236 | 73 | 37 | 3 | 78 | 35 | 14 | — | 921 | |||||||||||||||||||||||||||||||||
Equity in (losses)/earnings of unconsolidated affiliates | — | — | — | 3 | (8 | ) | 2 | (7 | ) | 18 | — | (2 | ) | 6 | ||||||||||||||||||||||||||||||
Income/(loss) before income taxes | 231 | 14 | 238 | 17 | 62 | 3 | (48 | ) | 90 | (695 | ) | (6 | ) | (94 | ) | |||||||||||||||||||||||||||||
Net income/(loss) attributable to NRG Energy, Inc. | $ | 231 | $ | 14 | $ | 238 | $ | 17 | $ | 62 | $ | 2 | $ | (75 | ) | $ | 76 | $ | (642 | ) | $ | 3 | $ | (74 | ) | |||||||||||||||||||
(e) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 4 | $ | 1,732 | $ | 99 | $ | 16 | $ | 3 | $ | 48 | $ | 19 | — | $ | 9 | |||||||||||||||||||||||||||
(f) Includes loss on debt extinguishment of $50 million. | ||||||||||||||||||||||||||||||||||||||||||||
(In millions) | Conventional Power Generation | |||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | Retail(g) | Texas(g) | East(g) | South(g) | West | Other(g) | Alternative Energy(g) | NRG Yield(g) | Corporate(g)(h) | Elimination | Total | |||||||||||||||||||||||||||||||||
Central | ||||||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 4,492 | $ | 1,462 | $ | 598 | $ | 653 | $ | 185 | $ | 152 | $ | 91 | $ | 133 | $ | 11 | $ | (1,418 | ) | $ | 6,359 | |||||||||||||||||||||
Depreciation and amortization | 126 | 343 | 96 | 69 | 8 | 1 | 34 | 18 | 8 | — | 703 | |||||||||||||||||||||||||||||||||
Equity in earnings/(losses) of unconsolidated affiliates | — | — | — | — | 6 | 8 | (3 | ) | 15 | — | $ | — | $ | 26 | ||||||||||||||||||||||||||||||
Income/(loss) before income taxes | 504 | (202 | ) | (31 | ) | — | 42 | 22 | (27 | ) | 18 | (511 | ) | — | (185 | ) | ||||||||||||||||||||||||||||
Net income/(loss) attributable to NRG Energy, Inc. | $ | 504 | $ | (202 | ) | $ | (31 | ) | $ | — | $ | 42 | $ | 18 | $ | (45 | ) | $ | 8 | $ | (251 | ) | $ | — | $ | 43 | ||||||||||||||||||
(g) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 3 | $ | 1,287 | $ | 51 | $ | — | $ | — | $ | 55 | $ | 18 | $ | — | $ | 4 | ||||||||||||||||||||||||||
(h) Includes loss on debt extinguishment of $41 million. |
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||
Income Taxes | ' | ||||||||||||||
Income Taxes | |||||||||||||||
Effective Tax Rate | |||||||||||||||
The income tax provision consisted of the following: | |||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
(In millions except otherwise noted) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Income/(loss) before income taxes | $ | 306 | $ | (105 | ) | (94 | ) | $ | (185 | ) | |||||
Income tax expense/(benefit) | 163 | (113 | ) | (47 | ) | (246 | ) | ||||||||
Effective tax rate | 53.3 | % | 107.6 | % | 50 | % | 133 | % | |||||||
For the three months ended September 30, 2013, NRG's overall effective tax rate was different than the statutory rate of 35% primarily due to the impact of state and local income taxes. For the nine months ended September 30, 2013, NRG's overall effective rate was different than the statutory rate of 35% primarily due to the recognition of ITCs from the Company's Agua Caliente solar project in Arizona and the impact of non-taxable equity earnings, partially offset by state and local income taxes. | |||||||||||||||
For the three and nine months ended September 30, 2012, NRG's overall effective tax rate was different than the statutory rate of 35% primarily due to the recognition of ITCs from the Company's Agua Caliente solar project in Arizona and production tax credits generated from certain Texas wind facilities. | |||||||||||||||
Uncertain Tax Benefits | |||||||||||||||
As of September 30, 2013, NRG has recorded a non-current tax liability of $74 million for uncertain tax benefits from positions taken on various state income tax returns, including accrued interest. NRG has accrued interest related to these uncertain tax benefits of $1 million for the nine months ended September 30, 2013, and has accrued $17 million of interest and penalties since adoption. The Company recognizes interest and penalties related to uncertain tax benefits in income tax expense. | |||||||||||||||
NRG is subject to examination by taxing authorities for income tax returns filed in the U.S. federal jurisdiction and various state and foreign jurisdictions including operations located in Australia. The Company is not subject to U.S. federal income tax examinations for years prior to 2007. With few exceptions, state and local income tax examinations are no longer open for years before 2004. The Company's primary foreign operations are also no longer subject to examination by local jurisdictions for years prior to 2010. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
Commitments | |
First Lien Structure | |
NRG has granted first liens to certain counterparties on a substantial portion of the Company's assets, excluding assets acquired in the GenOn acquisition and assets held by NRG Yield, Inc., to reduce the amount of cash collateral and letters of credit that it would otherwise be required to post from time to time to support its obligations under out-of-the-money hedge agreements for forward sales of power or MWh equivalents. The Company's lien counterparties may have a claim on NRG's assets to the extent market prices exceed the hedged price. As of September 30, 2013, hedges under the first lien were in-the-money for NRG on a counterparty aggregate basis. | |
Nuclear Insurance | |
STP maintains required insurance coverage for liability claims arising from nuclear incidents pursuant to the Price-Anderson Amendment to the Energy Policy Act of 2005, referred to as the Price-Anderson Act. As of September 30, 2013, the liability limit per incident was $13.6 billion, subject to changes to account for the effects of inflation and the number of licensed reactors. Under the Price-Anderson Act, owners of nuclear power plants in the U.S. are required to purchase primary insurance limits of $375 million for each operating site. In addition, the Price-Anderson Act requires an additional layer of protection through mandatory participation in a retrospective rating plan for power reactors resulting in an additional $13.2 billion in funds available for public liability claims. The current maximum assessment per incident, per reactor, is approximately $127 million, taking into account a 5% adjustment for administrative fees, payable at no more than approximately $19 million per year, per reactor. NRG would be responsible for 44% of the maximum assessment, or $8 million per year, per reactor, and a maximum of $112 million per incident. In addition, the U.S. Congress retains the ability to impose additional financial requirements on the nuclear industry to pay liability claims that exceed $13.6 billion for a single incident. The liabilities of the co-owners of STP with respect to the retrospective premium assessments for nuclear liability insurance are joint and several. | |
STP purchases insurance for property damage and site decontamination cleanup costs from Nuclear Electric Insurance Limited, or NEIL, an industry mutual insurance company, of which STP is a member. STP has purchased $2.75 billion in limits for nuclear events and $1.5 billion in limits for non-nuclear events, the maximum available from NEIL. The upper $1 billion in limits (excess of the first $1.75 billion in limits) is a single limit blanket policy shared with two Diablo Canyon nuclear reactors, which have no affiliation with the Company. This shared limit is not subject to automatic reinstatement in the event of a loss. The NEIL policy covers both nuclear and non-nuclear property damage events. NRG also purchases an Accidental Outage policy from NEIL, which provides protection for lost revenue due to an insurable event. This coverage allows for reimbursement up to $1.98 million per week per unit up to a maximum of $215.6 million nuclear and $144 million non-nuclear, and is subject to an eight week waiting period. Under the terms of the NEIL policies, member companies may be assessed up to ten times their annual premium if the NEIL Board of Directors determines their surplus has been depleted due to the payment of property losses at any of the licensed reactors in a single policy year. NEIL requires that its members maintain an investment grade credit rating or insure their annual retrospective obligation by providing a financial guarantee, letter of credit, deposit premium, or an insurance policy. NRG has purchased an insurance policy from NEIL to guarantee the Company's obligation; however this insurance will only respond to retrospective premium adjustments assessed within twenty-four months after the policy term, whereas NEIL's Board of Directors can make such an adjustment up to six years after the policy expires. | |
Contingencies | |
The Company's material legal proceedings are described below. The Company believes that it has valid defenses to these legal proceedings and intends to defend them vigorously. NRG records reserves for estimated losses from contingencies when information available indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. In addition, legal costs are expensed as incurred. Management has assessed each of the following matters based on current information and made a judgment concerning its potential outcome, considering the nature of the claim, the amount and nature of damages sought, and the probability of success. Unless specified below, the Company is unable to predict the outcome of these legal proceedings or reasonably estimate the scope or amount of any associated costs and potential liabilities. As additional information becomes available, management adjusts its assessment and estimates of such contingencies accordingly. Because litigation is subject to inherent uncertainties and unfavorable rulings or developments, it is possible that the ultimate resolution of the Company's liabilities and contingencies could be at amounts that are different from its currently recorded reserves and that such difference could be material. | |
In addition to the legal proceedings noted below, NRG and its subsidiaries are party to other litigation or legal proceedings arising in the ordinary course of business. In management's opinion, the disposition of these ordinary course matters will not materially adversely affect NRG's consolidated financial position, results of operations, or cash flows. | |
Louisiana Generating, LLC | |
In 2009, the U.S. DOJ, on behalf of the EPA, and later the Louisiana Department of Environmental Quality, or LDEQ, on behalf of the State of Louisiana, sued Louisiana Generating, LLC, or LaGen, a wholly owned subsidiary of NRG, in federal district court in the Middle District of Louisiana alleging violations of the CAA at the Big Cajun II power plant. On March 6, 2013, the court entered a Consent Decree resolving the matter. In addition to a fine of $3.5 million and mitigation projects totaling $10.5 million, the Consent Decree includes: (i) annual emission caps for NOx and SO2; (ii) installation of selective non-catalytic reduction on Units 1, 2 and 3 by May 1, 2014; (iii) installation of dry sorbent injection on Unit 1 by April 15, 2015 followed by a further reduction in SO2 in March 2025; (iv) conversion of Unit 2 to natural gas; and (v) surrender of any excess allowances associated with the NRG owned portion of the plant. Further discussion of this matter can be found in Note 15, Environmental Matters - South Central Region. | |
In a related matter, soon after the filing of the above referenced U.S. DOJ lawsuit, LaGen sought insurance coverage from its insurance carrier, Illinois Union Insurance Company, or ILU. ILU denied coverage and refused to provide a defense for LaGen, and thereafter LaGen filed a lawsuit in federal district court in the Middle District of Louisiana (which was consolidated with a prior suit filed by ILU) seeking a declaration that ILU must provide coverage to LaGen for the defense costs incurred in defending the U.S. DOJ lawsuit as well as indemnity costs. LaGen and ILU both filed motions for summary judgment and on January 30, 2012, the court issued an order granting LaGen's motion finding that ILU had a duty to defend LaGen. On May 25, 2012, ILU filed a petition with the U.S. Court of Appeals for the Fifth Circuit seeking to appeal the trial court's summary judgment ruling. The Fifth Circuit heard oral argument on March 6, 2013. On May 15, 2013, the Fifth Circuit affirmed the district court's ruling that ILU has a duty to defend LaGen against the U.S. DOJ lawsuit. On May 29, 2013, ILU filed a petition for rehearing. The Fifth Circuit denied ILU's petition for rehearing on June 12, 2013. On October 2, 2013, LaGen filed a motion for summary judgment in the federal district court for the Middle District of Louisiana for recovery of LaGen's fees and costs related to the U.S. DOJ lawsuit, as well as its fees and costs related to the insurance coverage action. | |
Big Cajun II Alleged Opacity Violations — On September 7, 2012, LaGen received a Consolidated Compliance Order & Notice of Potential Penalty, or CCO&NPP, from the LDEQ. The CCO&NPP alleges there were opacity exceedance events from the Big Cajun II Power Plant on certain dates during the years 2007-2012. On October 8, 2012, LaGen filed a Request for Administrative Adjudicatory hearing. LaGen and LDEQ have since reached an agreement in principle to resolve the matter for approximately $47,000. Following execution of a settlement agreement with LDEQ, notice of the settlement will be published for public comment, and is subject to approval by the Louisiana Attorney General within 90 days of the notice. | |
Global Warming | |
In February 2008, the Native Village of Kivalina and the City of Kivalina, Alaska filed a suit in the U.S. District Court for the Northern District of California against GenOn and 23 other electric generating and oil and gas companies. The lawsuit sought damages of up to $400 million for the cost of relocating the village allegedly because of global warming caused by the GHG emissions of the defendants. In late 2009, the District Court ordered that the case be dismissed and the plaintiffs appealed. In September 2012, the U.S. Court of Appeals for the Ninth Circuit dismissed plaintiffs' appeal. In October 2012, the plaintiffs petitioned for en banc rehearing of the case, which petition was denied in November 2012. In February 2013, plaintiffs filed a petition for certiorari with the U.S. Supreme Court seeking review of the decision of the U.S. Court of Appeals. In May 2013, the U.S. Supreme Court denied plaintiffs' petition, thereby ending the case. | |
Actions Pursued by MC Asset Recovery | |
With Mirant Corporation's emergence from bankruptcy protection in 2006, certain actions filed by GenOn Energy Holdings and some of its subsidiaries against third parties were transferred to MC Asset Recovery, a wholly owned subsidiary of GenOn Energy Holdings. MC Asset Recovery is governed by a manager who is independent of NRG and GenOn. MC Asset Recovery is a disregarded entity for income tax purposes. | |
Under the remaining action transferred to MC Asset Recovery, MC Asset Recovery seeks to recover damages from Commerzbank AG and various other banks, or the Commerzbank Defendants, for alleged fraudulent transfers that occurred prior to GenOn Energy Holdings' bankruptcy proceedings. In December 2010, the U.S. District Court for the Northern District of Texas dismissed MC Asset Recovery's complaint against the Commerzbank Defendants. In January 2011, MC Asset Recovery appealed the District Court's dismissal of its complaint against the Commerzbank Defendants to the U.S. Court of Appeals for the Fifth Circuit. In March 2012, the Court of Appeals reversed the District Court's dismissal and reinstated MC Asset Recovery's amended complaint against the Commerzbank Defendants. If MC Asset Recovery succeeds in obtaining any recoveries from the Commerzbank Defendants, the Commerzbank Defendants have asserted that they will seek to file claims in GenOn Energy Holdings' bankruptcy proceedings for the amount of those recoveries. GenOn Energy Holdings would vigorously contest the allowance of any such claims. If the Commerzbank Defendants were to receive an allowed claim as a result of a recovery by MC Asset Recovery on its claims against them, GenOn Energy Holdings would retain from the net amount recovered by MC Asset Recovery an amount equal to the dollar amount of the resulting allowed claim. | |
Pending Natural Gas Litigation | |
GenOn is party to five lawsuits, several of which are class action lawsuits, in state and federal courts in Kansas, Missouri, Nevada and Wisconsin. These lawsuits were filed in the aftermath of the California energy crisis in 2000 and 2001 and the resulting FERC investigations and relate to alleged conduct to increase natural gas prices in violation of antitrust and similar laws. The lawsuits seek treble or punitive damages, restitution and/or expenses. The lawsuits also name as parties a number of energy companies unaffiliated with NRG. In July 2011, the U.S. District Court for the District of Nevada, which is handling four of the five cases, granted the defendants' motion for summary judgment and dismissed all claims against GenOn in those cases. The plaintiffs appealed to the U.S. Court of Appeals for the Ninth Circuit. The Ninth Circuit reversed the decision of the U.S. District Court for the District of Nevada. On August 26, 2013, GenOn along with the other defendants in the lawsuit filed a petition for certiorari to the U.S. Supreme Court challenging the Ninth Circuit’s decision. In September 2012, the State of Nevada Supreme Court, which is handling the remaining case, affirmed dismissal by the Eighth Judicial District Court for Clark County, Nevada of all plaintiffs' claims against GenOn. In February 2013, the plaintiffs in the Nevada case filed a petition for certiorari to the U.S. Supreme Court. In June 2013, the U.S. Supreme Court denied the petition for certiorari, thereby ending one of the five lawsuits. GenOn has agreed to indemnify CenterPoint against certain losses relating to these lawsuits. | |
New Source Review Matters | |
The EPA and various states are investigating compliance of electric generating facilities with the pre-construction permitting requirements of the CAA known as “new source review.” Since 2000, the EPA has made information requests concerning several of the Company's subsidiaries' plants. The Company continues to correspond with the EPA regarding some of these requests. The EPA agreed to share information relating to its investigations with state environmental agencies. In 2005 and 2006, the Company received an NOV from the EPA alleging that past work at Big Cajun II violated regulations regarding new source review. Further discussion of this matter can be found in Note 15, Environmental Matters - South Central Region. In January 2009, the EPA issued an NOV alleging that past work at the Shawville, Portland and Keystone generating facilities violated regulations regarding new source review. In June 2011, the EPA issued an NOV alleging that past work at the Niles and Avon Lake generating facilities violated regulations regarding new source review. In April 2013, the Connecticut Department of Energy and Environmental Protection issued four NOVs alleging that past work at combustion turbines at three of the Company's Connecticut Jet Power facilities and Middletown facility violated regulations regarding new source review. | |
In December 2007, the NJDEP sued GenOn in the U.S. District Court for the Eastern District of Pennsylvania, alleging that new source review violations occurred at the Portland generating facility. The suit sought installation of BACT for each pollutant, to enjoin GenOn from operating the generating facility if it is not in compliance with the CAA and civil penalties. The suit also named past owners of the plant as defendants, but the claims against the past owners were dismissed. In March 2009, the Connecticut Department of Energy and Environmental Protection became an intervening party to the suit. In July 2013, the court entered a Consent Decree which generally requires the cessation of coal combustion at Portland Units 1 and 2 and the payment of $1 million to benefit the environment in New Jersey and Connecticut. The entry of the Consent Decree resolved this matter. | |
Cheswick Class Action Complaint | |
In April 2012, a putative class action lawsuit was filed against GenOn in the Court of Common Pleas of Allegheny County, Pennsylvania alleging that emissions from the Cheswick generating facility have damaged the property of neighboring residents. The Company disputes these allegations. Plaintiffs have brought nuisance, negligence, trespass and strict liability claims seeking both damages and injunctive relief. Plaintiffs seek to certify a class that consists of people who own property or live within one mile of the Company's plant. In July 2012, the Company removed the lawsuit to the U.S. District Court for the Western District of Pennsylvania. In October 2012, the court granted the Company's motion to dismiss, which Plaintiffs appealed to the U.S. Court of Appeals for the Third Circuit. On August 20, 2013, the Third Circuit reversed the decision of the District Court. On September 3, 2013, the Company filed a petition for rehearing with the Third Circuit which was subsequently denied on September 23, 2013. On October 15, 2013, the Company filed a motion with the District Court seeking to stay the District Court case while it petitions for certiorari to the U.S. Supreme Court. | |
Cheswick Monarch Mine NOV | |
In 2008, the PADEP issued an NOV related to the Monarch mine located near the Cheswick generating facility. It has not been mined for many years. The Company uses it for disposal of low-volume wastewater from the Cheswick generating facility and for disposal of leachate collected from ash disposal facilities. The NOV addresses the alleged requirement to maintain a minimum pumping volume from the mine. The PADEP indicated it will seek a civil penalty of approximately $200,000. The Company contests the allegations in the NOV and has not agreed to such penalty. The Company is currently planning capital expenditures in connection with wastewater from Cheswick and leachate from ash disposal facilities. | |
Ormond Beach Alleged Federal Clean Water Act Violations | |
In October 2012, the Wishtoyo Foundation, a California-based cultural and environmental advocacy organization, through its Ventura Coastkeeper Program, filed suit in the U.S. District Court for the Central District of California regarding alleged violations of the CWA associated with discharges of stormwater from the Ormond Beach generating facility. The Wishtoyo Foundation alleged that elevated concentrations of pollutants in stormwater discharged from the Ormond Beach generating facility were affecting adjacent aquatic resources in violation of (i) the Statewide General Industrial Stormwater permit (a general National Pollution Discharge Elimination System permit issued by the California State Water Resources Control Board that authorizes stormwater discharges from industrial facilities in California) and (ii) the state's Porter-Cologne Water Quality Control Act. The Wishtoyo Foundation further alleged that the Company had not implemented effective stormwater control and treatment measures and that the Company had not complied with the sampling and reporting requirements of the General Industrial Stormwater permit. The Company settled this matter in May 2013 and agreed to make operational changes and pay $79,000 in legal fees, $65,000 for supplemental environmental projects, and $15,000 for monitoring costs. | |
Maryland Fly Ash Facilities | |
The Company has three fly ash facilities in Maryland: Faulkner, Westland and Brandywine. Fly ash from the Morgantown and Chalk Point generating facilities is disposed of at Brandywine. Fly ash from the Dickerson generating facility is disposed of at Westland. Fly ash is no longer disposed of at the Faulkner facility. As described below, the MDE had sued NRG MD Ash Management and GenOn Mid-Atlantic regarding Faulkner, Brandywine and Westland. The MDE also had threatened not to renew the water discharge permits for all three facilities. | |
Faulkner Litigation — In May 2008, the MDE sued GenOn MidAtlantic and NRG MD Ash Management in the Circuit Court for Charles County, Maryland alleging violations of Maryland's water pollution laws at Faulkner. The MDE contended that the operation of Faulkner had resulted in the discharge of pollutants that exceeded Maryland's water quality criteria and without the appropriate NPDES permit. The MDE also alleged that GenOn failed to perform certain sampling and reporting required under an applicable NPDES permit. The MDE complaint requested that the court (i) prohibit continuation of the alleged unpermitted discharges, (ii) require GenOn to cease from further disposal of any coal combustion byproducts at Faulkner and close and cap the existing disposal cells and (iii) assess civil penalties. In July 2008, GenOn filed a motion to dismiss the complaint, arguing that the discharges are permitted by a December 2000 Consent Order. In January 2011, the MDE dismissed without prejudice its complaint and informed GenOn that it intended to file a similar lawsuit in federal court. In May 2011, the MDE filed a complaint against GenOn Mid-Atlantic and NRG MD Ash Management in the U.S. District Court for the District of Maryland alleging violations at Faulkner of the Clean Water Act and Maryland's Water Pollution Control Law. The MDE contends that (i) certain of GenOn's water discharges are not authorized by the existing permit and (ii) operation of the Faulkner facility has resulted in discharges of pollutants that violate water quality criteria. The complaint asked the court to, among other things, (i) enjoin further disposal of coal ash; (ii) enjoin discharges that are not authorized by the existing permit; (iii) require numerous technical studies; (iv) impose civil penalties and (v) award MDE attorneys' fees. The Company disputed these allegations. | |
Brandywine Litigation — In April 2010, the MDE filed a complaint against GenOn MidAtlantic and NRG MD Ash Management in the U.S. District Court for the District of Maryland asserting violations at Brandywine of the CWA and Maryland's Water Pollution Control Law. The MDE contended that the operation of Brandywine has resulted in discharges of pollutants that violate Maryland's water quality criteria. The complaint requested that the court, among other things, (i) enjoin further disposal of coal combustion waste at Brandywine, (ii) require the existing open disposal cells to be closed and capped within one year, (iii) impose civil penalties and (iv) award MDE attorneys' fees. In September 2010, four environmental advocacy groups became intervening parties in the proceeding. | |
Westland Litigation — In January 2011, the MDE informed GenOn that it intended to sue for alleged violations at Westland of Maryland's water pollution laws, which suit was filed in U.S. District Court for the District of Maryland in December 2012. | |
Permit Renewals — In March 2011, the MDE tentatively determined to deny NRG MD Ash Management's application for the renewal of the water discharge permit for Brandywine, which could have resulted in a significant increase in operating expenses for the GenOn Mid Atlantic's Chalk Point and Morgantown generating facilities. The MDE also had indicated that it was planning to deny the Company's applications for the renewal of the water discharge permits for Faulkner and Westland. Denial of the renewal of the water discharge permit for the latter facility could have resulted in a significant increase in operating expenses for the Dickerson generating facility. | |
Settlement — In April 2013, NRG MD Ash Management and MDE signed a Consent Decree settling the disputes at each of the three ash facilities. GenOn agreed to pay a civil penalty of $1.9 million for alleged past violations and an additional $0.6 million (for agreed prospective penalties while the settlement is implemented). GenOn agreed to develop a technical solution, which includes installing synthetic caps on the closed cells of each of the three ash facilities, for which $47 million has been reserved, and to remediate the site. At this time, the Company cannot reasonably estimate the upper range of its obligation for remediating the sites because the Company has not: (i) finished assessing each site including identifying the full impacts to both ground and surface water and the impacts to the surrounding habitat; (ii) finalized with the MDE the standards to which it must remediate; and (iii) identified the technologies required, if any, to meet the yet to be determined remediation standards at each site nor the timing of the design and installation of such technologies. | |
Energy Plus Holdings Purported Class Actions | |
Energy Plus Holdings was sued in six purported class action lawsuits, two in New York, two in New Jersey, and two in Pennsylvania. On February 28, 2013, Energy Plus Holdings entered into a settlement agreement with plaintiffs to resolve all of the claims in the six pending suits, subject to court approval. On September 17, 2013, the U.S. District Court, for the Southern District of New York entered an order approving the settlement. This settlement became final and nonappealable on October 27, 2013. Energy Plus Holdings continues to cooperate with the Connecticut Office of Attorney General and Office of Consumer Counsel and the State of New York Office of Attorney General to resolve certain issues related to Energy Plus Holdings's sales, marketing and business practices. Energy Plus Holdings and the Connecticut Office of Attorney General and Office of Consumer Counsel have been involved in settlement discussions and their efforts to reach a resolution continue. | |
Purported Class Actions related to July 22, 2012 Announcement of NRG/GenOn Merger Agreement | |
NRG was named as a defendant in eight purported class actions in Texas and Delaware related to its announcement of its agreement to acquire all outstanding shares of GenOn. These cases were consolidated into one state court case in each of Delaware and Texas and a federal court case in Texas. The plaintiffs generally alleged breach of fiduciary duties, as well as conspiracy, aiding and abetting breaches of fiduciary duties. Plaintiffs generally sought to: be certified as a class; enjoin the merger; direct the defendants to exercise their fiduciary duties; rescind the acquisition; and be awarded attorneys' fees costs and other relief that the court deems appropriate. Plaintiffs also demanded that there be additional disclosures regarding the merger terms. On October 24, 2012, the parties to the Delaware state court case executed a Memorandum of Understanding to resolve the Delaware purported class action lawsuit. In March 2013, the parties finalized the settlement of the Delaware action. On June 3, 2013, the court approved the Delaware class action settlement thereby ending the Delaware lawsuit. The remaining Texas state and federal court cases were dismissed in July 2013 and August 2013, respectively, thereby ending these matters. | |
Maryland Department of the Environment v. GenOn Chalk Point and GenOn Mid-Atlantic | |
On January 25, 2013, Food & Water Watch, the Patuxent Riverkeeper and the Potomac Riverkeeper (together, the Citizens Group) sent NRG a letter alleging that the Chalk Point, Dickerson and Morgantown generating facilities were violating the terms of the three National Pollution Discharge Elimination System permits by discharging nitrogen and phosphorous in excess of the limits in each permit. On March 21, 2013, the MDE sent the Company a similar letter with respect to the Chalk Point and Dickerson facilities, threatening to sue within 60 days if the Company did not bring itself into compliance. On June 11, 2013, the Maryland Attorney General on behalf of the MDE filed a complaint in the U.S. District Court for the District of Maryland alleging violations of the Clean Water Act and Maryland environmental laws related to water. The lawsuit seeks injunctive relief and civil penalties in excess of $100,000. | |
Huntley Power LLC Subpoena | |
Huntley Power LLC was served with a subpoena on May 13, 2013 from the U.S. Department of Justice requesting information regarding the plant's use and handling of diesel fuel. The Company is cooperating with the U.S Department of Justice to address the issues related to the use and handling of diesel fuel. | |
Texas Franchise Audit | |
During the second quarter of 2013, the Company settled the Texas Franchise tax dispute with the state relating to years 2001 through 2007. Prior to the GenOn acquisition, the State of Texas issued franchise tax assessments against GenOn as a result of its audit indicating an underpayment of franchise tax of $72 million (including interest and penalties through June 30, 2013 of $29 million). These assessments relate primarily to a claim by Texas that would change the sourcing of intercompany receipts thereby increasing the amount of tax due. GenOn disagreed with most of the State's assessment and its determination and had accordingly accrued a portion of the liability but had protested the entire assessment. In June 2013, the Company settled the matter with the State by agreeing to pay $11 million on issues arising from the audit, and reversed the remainder of the accrual. The reversal was recorded as a measurement period adjustment to the amounts recognized on the acquisition date. |
Regulatory_Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2013 | |
Regulatory Matters Disclosure [Abstract] | ' |
Regulatory Matters | ' |
Regulatory Matters | |
NRG operates in a highly regulated industry and is subject to regulation by various federal and state agencies. As such, NRG is affected by regulatory developments at both the federal and state levels and in the regions in which NRG operates. In addition, NRG is subject to the market rules, procedures, and protocols of the various ISO and RTO markets in which NRG participates. These power markets are subject to ongoing legislative and regulatory changes that may impact NRG's wholesale and retail businesses. | |
In addition to the regulatory proceedings noted below, NRG and its subsidiaries are a party to other regulatory proceedings arising in the ordinary course of business or have other regulatory exposure. In management's opinion, the disposition of these ordinary course matters will not materially adversely affect NRG's consolidated financial position, results of operations, or cash flows. | |
East Region | |
Reliability Must Run Agreements for Elrama and Niles — In May 2012, GenOn filed with FERC an RMR rate schedule governing operation of unit 4 of the Elrama generating facility and unit 1 of the Niles generating facility. PJM determined that each of these units was needed past its planned deactivation date of June 1, 2012 to maintain transmission system reliability on the PJM system pending the completion of transmission upgrades. The RMR rate schedule sets forth the terms, conditions and cost-based rates under which GenOn operated the units for reliability purposes through September 30, 2012, the date PJM indicated the units would no longer be needed for reliability. In July 2012, FERC accepted GenOn's RMR rate schedule subject to hearing and settlement procedures. In the settlement discussions ordered by FERC, or in any subsequent hearing, the Company's RMR rate schedule may be modified from that which was filed. The rates GenOn charged are subject to refund pending a ruling or settlement. The Company filed a settlement of all outstanding issues in May 2013, which several parties are contesting. The matter is pending before FERC. | |
Retail | |
MISO SECA — Green Mountain Energy previously provided competitive retail energy supply in the MISO region during the relevant period of January 1, 2002, to December 31, 2005. By order dated November 18, 2004, FERC eliminated certain regional through-and-out transmission rates charged by transmission owners in MISO and PJM. In order to temporarily compensate the transmission owners for lost revenues, FERC ordered MISO, PJM and their respective transmission owners to revamp the way that ISOs manage certain cross-system congestion costs, known as Seams Elimination Charge/Cost Adjustments/Assignments, or SECA, charges effective December 1, 2004, through March 31, 2006. The tariff amendments filed by MISO and the MISO transmission owners allocated certain SECA charges to various zones and sub-zones within MISO, including a sub-zone called the Green Mountain Energy Company Sub-zone. During several years of extensive litigation before FERC, several transmission owners sought to recover SECA charges from Green Mountain Energy. Green Mountain Energy denied responsibility for any SECA charges and did not pay any asserted SECA charges. | |
On May 21, 2010, FERC issued two orders, including its Order on Initial Decision, in which FERC determined that approximately $22 million plus interest of SECA charges were owed not by Green Mountain Energy but rather by BP Energy - one of Green Mountain Energy's suppliers during the period at issue. On August 19, 2010, the transmission owners and MISO made compliance filings in accordance with FERC's Orders allocating SECA charges to a BP Energy Sub-zone, and making no allocation to a Green Mountain Energy sub-zone. FERC has not yet ruled on those compliance filings. | |
On September 30, 2011, FERC issued orders denying all requests for rehearing and again determined that SECA charges were not owed by Green Mountain Energy. Numerous parties, including BP Energy, sought judicial review of FERC's orders, and Green Mountain Energy was granted intervenor status in the consolidated appeals. Most appellants subsequently settled with the transmission owners and withdrew their appeals, including BP Energy, which agreed to pay approximately $24 million to the three transmission owners signing the agreement, with another $1 million offered to the remaining PJM transmission owners, should they choose to join the settlement; all chose to do so. FERC approved the settlement, and BP Energy moved to dismiss its appeals; its motions to dismiss were granted by the Court. | |
West Region | |
California Station Power — On December 18, 2012, in Calpine Corporation v. FERC, the U.S. Court of Appeals for the D.C. Circuit upheld a decision by FERC disclaiming jurisdiction over how the states impose retail station power charges. The CPUC may now establish retail charges for future station power consumption. Due to reservation-of-rights language in the California utilities' state-jurisdictional station power tariffs, the court's ruling arguably requires California generators to pay state-imposed retail charges back to the date of enrollment by the facilities in the CAISO's station period program (February 1, 2009, for the Company's Encina and El Segundo facilities; March 1, 2009, for the Company's Long Beach facility). | |
On November 18, 2011, Southern California Edison Company filed with the CPUC, seeking authorization to begin charging generators station power charges, and to assess such charges retroactively, which the Company and other generators have challenged. On August 13, 2012, the CPUC Energy Division issued a draft resolution in which it rejected the Company's arguments and approved Southern California Edison's proposed station power charges, including retroactive implementation, but proposing a credit to generators for some portion of their retail station power bill. However, the CPUC withdrew the draft resolution from the calendar and consideration of the measure has not yet been rescheduled. The Company believes it has established an appropriate reserve. |
Environmental_Matters
Environmental Matters | 9 Months Ended |
Sep. 30, 2013 | |
Environmental Matters Disclosure [Abstract] | ' |
Environmental Matters | ' |
Environmental Matters | |
NRG is subject to a wide range of environmental regulations in the development, ownership, construction and operation of projects in the United States and Australia. These laws and regulations generally require that governmental permits and approvals be obtained before construction and during operation of power plants. Environmental regulations have become increasingly stringent and NRG expects this trend to continue. The electric generation industry is likely to face new requirements to address various emissions, including greenhouse gases, as well as combustion byproducts, water discharge and use, and threatened and endangered species. In general, future laws and regulations are expected to require the addition of emissions controls or other environmental controls or to impose certain restrictions on the operations of the Company's facilities, which could have a material effect on the Company's operations. | |
The EPA released CSAPR on July 7, 2011, which was scheduled to replace CAIR on January 1, 2012. On August 21, 2012, the U.S. Court of Appeals for the D.C. Circuit issued an opinion vacating CSAPR and keeping CAIR in place until the EPA can replace it. The EPA petitioned the Supreme Court seeking review of this decision, which petition was granted. The Supreme Court will hear oral argument in the case on December 10, 2013. The Court of Appeals decision was beneficial to the Company as it eliminated an SO2 allowance reduction which was to have occurred before the MATS compliance date. While NRG is unable to predict the final outcome of the ongoing litigation, the Company's investment in pollution controls and cleaner technologies coupled with planned strategic plant retirements leaves the fleet well positioned for compliance. | |
Environmental Capital Expenditures | |
Based on current rules, technology and preliminary plans based on some proposed rules, NRG estimates that environmental capital expenditures from 2013 through 2017 required to comply with environmental laws will be approximately $530 million which includes $223 million for GenOn. These costs are primarily associated with (i) controls to satisfy MATS and the recent NSR settlement at Big Cajun II; (ii) controls to satisfy MATS at W.A. Parish, Limestone and Conemaugh; and (iii) NOx controls for Sayreville and Gilbert. The decrease from NRG's estimate disclosed in the Company's 2012 Form 10‑K is related to changes in technology related to complying with MATS and the NSR settlement at Big Cajun II, and the selection of more cost-effective environmental compliance solutions at Cheswick. NRG continues to explore cost-effective compliance alternatives to further reduce costs. | |
NRG's contracts with its rural electric cooperative customers in the South Central region allow for recovery of a portion of the region's environmental capital costs incurred as the result of complying with any change in environmental law. Cost recoveries begin once the environmental equipment becomes operational and include a return on capital. The actual recoveries will depend, among other things, on the timing of the completion of the capital projects and the remaining duration of the contracts. | |
East Region | |
The EPA and various states are investigating compliance of electric generating facilities with the pre-construction permitting requirements of the CAA known as “new source review,” or NSR. In January 2009, GenOn received an NOV from the EPA alleging that past work at Keystone, Portland and Shawville generating facilities violated regulations regarding NSR. In June 2011, GenOn received an NOV from the EPA alleging that past work at Avon Lake and Niles generating stations violated NSR. In December 2007, the NJDEP filed suit alleging that NSR violations occurred at the Portland generating station, which suit was resolved pursuant to a July 2013 Consent Decree. The Shawville, Niles and Portland generating units that are the subject of the NOVs are scheduled for retirement soon. Additionally, in April 2013, the Connecticut Department of Energy and Environmental Protection issued four NOVs alleging that past work at oil-fired combustion turbines at the Torrington Terminal, Franklin, Branford and Middletown violated regulations regarding NSR. | |
In 2008, the PADEP issued an NOV related to the inactive Monarch mine where low-volume wastewater from the Cheswick Generating Station and ash leachate was historically disposed. Resolution of the NOV could result in operational requirements such as pumping a minimum volume of water from the mine and a penalty of approximately $200,000. | |
In January 2006, NRG's Indian River Operations, Inc. was notified that it may be a potentially responsible party with respect to Burton Island Old Ash Landfill, a historic captive landfill located at the Indian River facility. On October 1, 2007, NRG signed an agreement with DNREC to investigate the site through the Voluntary Clean-up Program. On February 4, 2008, DNREC issued findings that no further action is required in relation to surface water and that a previously planned shoreline stabilization project would satisfactorily address shoreline erosion. The landfill itself required a Remedial Investigation and Feasibility Study to determine the type and scope of any additional required work. The DNREC approved the Feasibility Study in December 2012. In January 2013, DNREC proposed a remediation plan based on the Feasibility Study. The remediation plan was approved in October 2013. The cost of completing the work required by the approved remediation plan is consistent with amounts previously budgeted. On May 29, 2008, DNREC requested that NRG's Indian River Operations, Inc. participate in the development and performance of a Natural Resource Damage Assessment at the Burton Island Old Ash Landfill. NRG is currently working with DNREC and other trustees to close out the assessment process. | |
The MDE sued GenOn for alleged violations of water pollution laws at three fly ash disposal sites in Maryland: Faulkner (2008/2011), Brandywine (2010) and Westland (2012). On April 30, 2013, the court approved the consent decree resolving these issues. GenOn has discontinued use of the Faulkner disposal site and opened a new, state of the art carbon burnout facility at its Morgantown plant that allows greater beneficial reuse (as a cement substitute). | |
For further discussion of these matters, refer to Note 13, Commitments and Contingencies. | |
South Central Region | |
In 2009, the U.S. DOJ, on behalf of the EPA, and later the Louisiana Department of Environmental Quality on behalf of the state of Louisiana, sued LaGen in federal district court in the Middle District of Louisiana alleging violations of the CAA at the Big Cajun II power plant. On March 6, 2013, the court entered a Consent Decree resolving the matter. In addition to a fine of $3.5 million and mitigation projects totaling $10.5 million, the Consent Decree includes: (i) annual emission caps for NOx and SO2; (ii) installation of selective non-catalytic reduction on Units 1, 2 and 3 by May 1, 2014; (iii) installation of dry sorbent injection on Unit 1 by April 15, 2015 followed by a further reduction in SO2 in March 2025; (iv) conversion of Unit 2 to natural gas; and (v) surrender of any excess allowances associated with the NRG owned portion of the plant. For further discussion of this matter, refer to Note 13, Commitments and Contingencies. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Condensed Consolidating Financial Information Disclosure [Abstract] | ' | |||||||||||||||||||
Condensed Consolidating Financial Information | ' | |||||||||||||||||||
Condensed Consolidating Financial Information | ||||||||||||||||||||
As of September 30, 2013, the Company had outstanding $5.7 billion of Senior Notes due from 2018 - 2023, as shown in Note 7, Debt and Capital Leases. These Senior Notes are guaranteed by certain of NRG's current and future 100% owned domestic subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include all of NRG's foreign subsidiaries and certain domestic subsidiaries, including GenOn and its subsidiaries. | ||||||||||||||||||||
Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of September 30, 2013: | ||||||||||||||||||||
Ace Energy, Inc. | Middletown Power LLC | NRG Oswego Harbor Power Operations, Inc. | ||||||||||||||||||
Allied Warranty LLC | Montville Power LLC | NRG PacGen Inc. | ||||||||||||||||||
Arthur Kill Power LLC | NEO Corporation | NRG Power Marketing LLC | ||||||||||||||||||
Astoria Gas Turbine Power LLC | NEO Freehold-Gen LLC | NRG Reliability Solutions LLC | ||||||||||||||||||
Bidurenergy, Inc. | NEO Power Services Inc. | NRG Renter's Protection LLC | ||||||||||||||||||
Cabrillo Power I LLC | New Genco GP, LLC | NRG Retail LLC | ||||||||||||||||||
Cabrillo Power II LLC | Norwalk Power LLC | NRG Rockford Acquisition LLC | ||||||||||||||||||
Carbon Management Solutions LLC | NRG Affiliate Services Inc. | NRG Saguaro Operations Inc. | ||||||||||||||||||
Clean Edge Energy LLC | NRG Artesian Energy LLC | NRG Security LLC | ||||||||||||||||||
Conemaugh Power LLC | NRG Arthur Kill Operations Inc. | NRG Services Corporation | ||||||||||||||||||
Connecticut Jet Power LLC | NRG Astoria Gas Turbine Operations Inc. | NRG SimplySmart Solutions LLC | ||||||||||||||||||
Cottonwood Development LLC | NRG Bayou Cove LLC | NRG South Central Affiliate Services Inc. | ||||||||||||||||||
Cottonwood Energy Company LP | NRG Cabrillo Power Operations Inc. | NRG South Central Generating LLC | ||||||||||||||||||
Cottonwood Generating Partners I LLC | NRG California Peaker Operations LLC | NRG South Central Operations Inc. | ||||||||||||||||||
Cottonwood Generating Partners II LLC | NRG Cedar Bayou Development Company, LLC | NRG South Texas LP | ||||||||||||||||||
Cottonwood Generating Partners III LLC | NRG Connecticut Affiliate Services Inc. | NRG Texas C&I Supply LLC | ||||||||||||||||||
Cottonwood Technology Partners LP | NRG Construction LLC | NRG Texas Gregory LLC | ||||||||||||||||||
Devon Power LLC | NRG Curtailment Solutions LLC | NRG Texas Holding Inc. | ||||||||||||||||||
Dunkirk Power LLC | NRG Development Company Inc. | NRG Texas LLC | ||||||||||||||||||
Eastern Sierra Energy Company LLC | NRG Devon Operations Inc. | NRG Texas Power LLC | ||||||||||||||||||
El Segundo Power, LLC | NRG Dispatch Services LLC | NRG Unemployment Protection LLC | ||||||||||||||||||
El Segundo Power II LLC | NRG Dunkirk Operations Inc. | NRG Warranty Services LLC | ||||||||||||||||||
Elbow Creek Wind Project LLC | NRG El Segundo Operations Inc. | NRG West Coast LLC | ||||||||||||||||||
Energy Alternatives Wholesale, LLC | NRG Energy Labor Services LLC | NRG Western Affiliate Services Inc. | ||||||||||||||||||
Energy Curtailment Specialists, Inc. | NRG Energy Services Group LLC | O'Brien Cogeneration, Inc. II | ||||||||||||||||||
Energy Plus Holdings LLC | NRG Energy Services LLC | ONSITE Energy, Inc. | ||||||||||||||||||
Energy Plus Natural Gas LLC | NRG Generation Holdings, Inc. | Oswego Harbor Power LLC | ||||||||||||||||||
Energy Protection Insurance Company | NRG Home & Business Solutions LLC | RE Retail Receivables, LLC | ||||||||||||||||||
Everything Energy LLC | NRG Home Solutions LLC | Reliant Energy Northeast LLC | ||||||||||||||||||
GCP Funding Company, LLC | NRG Home Solutions Product LLC | Reliant Energy Power Supply, LLC | ||||||||||||||||||
Green Mountain Energy Company | NRG Homer City Services LLC | Reliant Energy Retail Holdings, LLC | ||||||||||||||||||
Green Mountain Energy Company | NRG Huntley Operations Inc. | Reliant Energy Retail Services, LLC | ||||||||||||||||||
(NY Com) LLC | NRG Identity Protect LLC | RERH Holdings, LLC | ||||||||||||||||||
Green Mountain Energy Company | NRG Ilion Limited Partnership | Saguaro Power LLC | ||||||||||||||||||
(NY Res) LLC | NRG Ilion LP LLC | Somerset Operations Inc. | ||||||||||||||||||
Gregory Partners, LLC | NRG International LLC | Somerset Power LLC | ||||||||||||||||||
Gregory Power Partners LLC | NRG Maintenance Services LLC | Texas Genco Financing Corp. | ||||||||||||||||||
Huntley Power LLC | NRG Mextrans Inc. | Texas Genco GP, LLC | ||||||||||||||||||
Independence Energy Alliance LLC | NRG MidAtlantic Affiliate Services Inc. | Texas Genco Holdings, Inc. | ||||||||||||||||||
Independence Energy Group LLC | NRG Middletown Operations Inc. | Texas Genco LP, LLC | ||||||||||||||||||
Independence Energy Natural Gas LLC | NRG Montville Operations Inc. | Texas Genco Operating Services, LLC | ||||||||||||||||||
Indian River Operations Inc. | NRG New Jersey Energy Sales LLC | Texas Genco Services, LP | ||||||||||||||||||
Indian River Power LLC | NRG New Roads Holdings LLC | US Retailers LLC | ||||||||||||||||||
Keystone Power LLC | NRG North Central Operations Inc. | Vienna Operations Inc. | ||||||||||||||||||
Langford Wind Power, LLC | NRG Northeast Affiliate Services Inc. | Vienna Power LLC | ||||||||||||||||||
Lone Star A/C & Appliance Repair, LLC | NRG Norwalk Harbor Operations Inc. | WCP (Generation) Holdings LLC | ||||||||||||||||||
Louisiana Generating LLC | NRG Operating Services, Inc. | West Coast Power LLC | ||||||||||||||||||
Meriden Gas Turbines LLC | ||||||||||||||||||||
NRG conducts much of its business through and derives much of its income from its subsidiaries. Therefore, the Company's ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and NRG's ability to receive funds from its subsidiaries. Except for NRG Bayou Cove, LLC, which is subject to certain restrictions under the Company's Peaker financing agreements, there are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to NRG. In addition, there may be restrictions for certain non-guarantor subsidiaries. | ||||||||||||||||||||
The following condensed consolidating financial information presents the financial information of NRG Energy, Inc., the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the Securities and Exchange Commission's Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. | ||||||||||||||||||||
In this presentation, NRG Energy, Inc. consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of NRG are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. | ||||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating Revenues | ||||||||||||||||||||
Total operating revenues | $ | 2,464 | $ | 1,019 | $ | — | $ | 7 | $ | 3,490 | ||||||||||
Operating Costs and Expenses | ||||||||||||||||||||
Cost of operations | 1,792 | 566 | (6 | ) | 3 | 2,355 | ||||||||||||||
Depreciation and amortization | 213 | 102 | 3 | — | 318 | |||||||||||||||
Selling, general and administrative | 116 | 70 | 39 | 4 | 229 | |||||||||||||||
Acquisition-related transaction and integration costs | — | 13 | 13 | — | 26 | |||||||||||||||
Development activity expenses | — | 14 | 13 | — | 27 | |||||||||||||||
Total operating costs and expenses | 2,121 | 765 | 62 | 7 | 2,955 | |||||||||||||||
Operating Income/(Loss) | 343 | 254 | (62 | ) | — | 535 | ||||||||||||||
Other Income/(Expense) | ||||||||||||||||||||
Equity in (loss)/earnings of consolidated subsidiaries | (25 | ) | (5 | ) | 309 | (279 | ) | — | ||||||||||||
Equity in (loss)/earnings of unconsolidated affiliates | (10 | ) | 10 | — | (5 | ) | (5 | ) | ||||||||||||
Other income, net | 5 | 3 | 1 | (4 | ) | 5 | ||||||||||||||
Loss on debt extinguishment | — | (1 | ) | — | — | (1 | ) | |||||||||||||
Interest expense | (3 | ) | (88 | ) | (137 | ) | — | (228 | ) | |||||||||||
Total other (expense)/income | (33 | ) | (81 | ) | 173 | (288 | ) | (229 | ) | |||||||||||
Income Before Income Taxes | 310 | 173 | 111 | (288 | ) | 306 | ||||||||||||||
Income tax expense/(benefit) | 126 | 59 | (22 | ) | — | 163 | ||||||||||||||
Net Income | 184 | 114 | 133 | (288 | ) | 143 | ||||||||||||||
Less: Net income attributable to noncontrolling interest | — | 32 | 9 | (22 | ) | 19 | ||||||||||||||
Net Income attributable to | $ | 184 | $ | 82 | $ | 124 | $ | (266 | ) | $ | 124 | |||||||||
NRG Energy, Inc. | ||||||||||||||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating Revenues | ||||||||||||||||||||
Total operating revenues | $ | 6,225 | $ | 2,394 | $ | — | $ | (119 | ) | $ | 8,500 | |||||||||
Operating Costs and Expenses | ||||||||||||||||||||
Cost of operations | 4,697 | 1,593 | 1 | (112 | ) | 6,179 | ||||||||||||||
Depreciation and amortization | 624 | 288 | 9 | — | 921 | |||||||||||||||
Selling, general and administrative | 341 | 173 | 164 | (7 | ) | 671 | ||||||||||||||
Acquisition-related transaction and integration costs | — | 54 | 41 | — | 95 | |||||||||||||||
Development activity expenses | — | 24 | 39 | — | 63 | |||||||||||||||
Total operating costs and expenses | 5,662 | 2,132 | 254 | (119 | ) | 7,929 | ||||||||||||||
Operating Income/(Loss) | 563 | 262 | (254 | ) | — | 571 | ||||||||||||||
Other Income/(Expense) | ||||||||||||||||||||
Equity in (loss)/earnings of consolidated subsidiaries | (4 | ) | (9 | ) | 363 | (350 | ) | — | ||||||||||||
Equity in (loss)/earnings of unconsolidated affiliates | (8 | ) | 16 | — | (2 | ) | 6 | |||||||||||||
Other income, net | 7 | 5 | 3 | (6 | ) | 9 | ||||||||||||||
Loss on debt extinguishment | — | (12 | ) | (38 | ) | — | (50 | ) | ||||||||||||
Interest expense | (13 | ) | (229 | ) | (388 | ) | — | (630 | ) | |||||||||||
Total other expense | (18 | ) | (229 | ) | (60 | ) | (358 | ) | (665 | ) | ||||||||||
Income/(Loss) Before Income Taxes | 545 | 33 | (314 | ) | (358 | ) | (94 | ) | ||||||||||||
Income tax expense/(benefit) | 212 | (10 | ) | (249 | ) | — | (47 | ) | ||||||||||||
Net Income/(Loss) | 333 | 43 | (65 | ) | (358 | ) | (47 | ) | ||||||||||||
Less: Net income attributable to noncontrolling interest | — | 40 | 9 | (22 | ) | 27 | ||||||||||||||
Net Income/(Loss) attributable to | $ | 333 | $ | 3 | $ | (74 | ) | $ | (336 | ) | $ | (74 | ) | |||||||
NRG Energy, Inc. | ||||||||||||||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME | ||||||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Net Income | $ | 184 | $ | 114 | $ | 133 | $ | (288 | ) | $ | 143 | |||||||||
Other comprehensive (loss)/income, net of tax | ||||||||||||||||||||
Unrealized (loss)/gain on derivatives, net | (13 | ) | (8 | ) | 17 | (12 | ) | (16 | ) | |||||||||||
Foreign currency translation adjustments, net | — | 4 | 1 | — | 5 | |||||||||||||||
Other comprehensive (loss)/income | (13 | ) | (4 | ) | 18 | (12 | ) | (11 | ) | |||||||||||
Comprehensive income | 171 | 110 | 151 | (300 | ) | 132 | ||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | 29 | 9 | (20 | ) | 18 | ||||||||||||||
Comprehensive income attributable to NRG Energy, Inc. | 171 | 81 | 142 | (280 | ) | 114 | ||||||||||||||
Dividends for preferred shares | — | — | 2 | — | 2 | |||||||||||||||
Comprehensive income available for common stockholders | $ | 171 | $ | 81 | $ | 140 | $ | (280 | ) | $ | 112 | |||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Net Income/(Loss) | $ | 333 | $ | 43 | $ | (65 | ) | $ | (358 | ) | $ | (47 | ) | |||||||
Other comprehensive (loss)/income, net of tax | ||||||||||||||||||||
Unrealized (loss)/gain on derivatives, net | (54 | ) | 41 | 9 | 12 | 8 | ||||||||||||||
Foreign currency translation adjustments, net | — | (11 | ) | (3 | ) | — | (14 | ) | ||||||||||||
Available-for-sale securities, net | — | — | 2 | — | 2 | |||||||||||||||
Defined benefit plan, net | — | 25 | — | — | 25 | |||||||||||||||
Other comprehensive (loss)/income | (54 | ) | 55 | 8 | 12 | 21 | ||||||||||||||
Comprehensive income/(loss) | 279 | 98 | (57 | ) | (346 | ) | (26 | ) | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | 39 | 9 | (22 | ) | 26 | ||||||||||||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 279 | 59 | (66 | ) | (324 | ) | (52 | ) | ||||||||||||
Dividends for preferred shares | — | — | 7 | — | 7 | |||||||||||||||
Comprehensive income/(loss) available for common stockholders | $ | 279 | $ | 59 | $ | (73 | ) | $ | (324 | ) | $ | (59 | ) | |||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
ASSETS | (In millions) | |||||||||||||||||||
Current Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 23 | $ | 1,110 | $ | 996 | $ | — | $ | 2,129 | ||||||||||
Funds deposited by counterparties | — | 122 | — | — | 122 | |||||||||||||||
Restricted cash | 18 | 278 | 11 | — | 307 | |||||||||||||||
Accounts receivable, net | 1,132 | 234 | — | — | 1,366 | |||||||||||||||
Inventory | 406 | 455 | — | — | 861 | |||||||||||||||
Derivative instruments | 914 | 491 | — | (16 | ) | 1,389 | ||||||||||||||
Cash collateral paid in support of energy risk management activities | 253 | 35 | — | — | 288 | |||||||||||||||
Renewable energy grant receivable | — | 344 | 1 | — | 345 | |||||||||||||||
Prepayments and other current assets | 4,103 | 283 | (3,414 | ) | (530 | ) | 442 | |||||||||||||
Total current assets | 6,849 | 3,352 | (2,406 | ) | (546 | ) | 7,249 | |||||||||||||
Net property, plant and equipment | 9,651 | 10,822 | 149 | (22 | ) | 20,600 | ||||||||||||||
Other Assets | ||||||||||||||||||||
Investment in subsidiaries | 108 | (108 | ) | 18,218 | (18,218 | ) | — | |||||||||||||
Equity investments in affiliates | 18 | 724 | 10 | (126 | ) | 626 | ||||||||||||||
Notes receivable, less current portion | — | 66 | 255 | (245 | ) | 76 | ||||||||||||||
Goodwill | 1,941 | 12 | — | — | 1,953 | |||||||||||||||
Intangible assets, net | 988 | 172 | 33 | (52 | ) | 1,141 | ||||||||||||||
Nuclear decommissioning trust fund | 524 | — | — | — | 524 | |||||||||||||||
Deferred income tax | — | 784 | 715 | — | 1,499 | |||||||||||||||
Derivative instruments | 202 | 307 | — | (3 | ) | 506 | ||||||||||||||
Other non-current assets | 80 | 239 | 370 | — | 689 | |||||||||||||||
Total other assets | 3,861 | 2,196 | 19,601 | (18,644 | ) | 7,014 | ||||||||||||||
Total Assets | $ | 20,361 | $ | 16,370 | $ | 17,344 | $ | (19,212 | ) | $ | 34,863 | |||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||
Current portion of long-term debt and capital leases | $ | 1 | $ | 890 | $ | 20 | $ | — | $ | 911 | ||||||||||
Accounts payable | 678 | 436 | 26 | — | 1,140 | |||||||||||||||
Accounts payable — affiliate | 6 | 1,973 | (1,572 | ) | (407 | ) | — | |||||||||||||
Derivative instruments | 887 | 193 | — | (16 | ) | 1,064 | ||||||||||||||
Deferred income taxes | 369 | (264 | ) | 7 | — | 112 | ||||||||||||||
Cash collateral received in support of energy risk management activities | — | 122 | — | — | 122 | |||||||||||||||
Accrued expenses and other current liabilities | 283 | 478 | 272 | — | 1,033 | |||||||||||||||
Total current liabilities | 2,224 | 3,828 | (1,247 | ) | (423 | ) | 4,382 | |||||||||||||
Other Liabilities | ||||||||||||||||||||
Long-term debt and capital leases | 316 | 7,965 | 7,766 | (245 | ) | 15,802 | ||||||||||||||
Nuclear decommissioning reserve | 290 | — | — | — | 290 | |||||||||||||||
Nuclear decommissioning trust liability | 303 | — | — | — | 303 | |||||||||||||||
Deferred income taxes | 886 | (836 | ) | — | — | 50 | ||||||||||||||
Derivative instruments | 279 | 96 | — | (3 | ) | 372 | ||||||||||||||
Out-of-market contracts | 162 | 1,026 | — | (31 | ) | 1,157 | ||||||||||||||
Other non-current liabilities | 510 | 631 | 236 | — | 1,377 | |||||||||||||||
Total non-current liabilities | 2,746 | 8,882 | 8,002 | (279 | ) | 19,351 | ||||||||||||||
Total liabilities | 4,970 | 12,710 | 6,755 | (702 | ) | 23,733 | ||||||||||||||
3.625% convertible perpetual preferred stock | — | — | 249 | — | 249 | |||||||||||||||
Stockholders’ Equity | 15,391 | 3,660 | 10,340 | (18,510 | ) | 10,881 | ||||||||||||||
Total Liabilities and Stockholders’ Equity | $ | 20,361 | $ | 16,370 | $ | 17,344 | $ | (19,212 | ) | $ | 34,863 | |||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Cash Flows from Operating Activities | ||||||||||||||||||||
Net Cash Provided/(Used) by Operating Activities | 1,334 | 135 | (1,800 | ) | 1,154 | 823 | ||||||||||||||
Cash Flows from Investing Activities | ||||||||||||||||||||
Intercompany loans to subsidiaries | (1,158 | ) | 4 | 1,154 | — | — | ||||||||||||||
Acquisition of businesses, net of cash acquired | — | (59 | ) | (315 | ) | — | (374 | ) | ||||||||||||
Capital expenditures | (154 | ) | (1,388 | ) | (39 | ) | — | (1,581 | ) | |||||||||||
(Increase)/decrease in restricted cash, net | (7 | ) | (61 | ) | 1 | — | (67 | ) | ||||||||||||
Increase in restricted cash — U.S. DOE projects | — | (18 | ) | (2 | ) | — | (20 | ) | ||||||||||||
Decrease/(increase) in notes receivable | 2 | (16 | ) | (8 | ) | — | (22 | ) | ||||||||||||
Investments in nuclear decommissioning trust fund securities | (369 | ) | — | — | — | (369 | ) | |||||||||||||
Proceeds from sales of nuclear decommissioning trust fund securities | 344 | — | — | — | 344 | |||||||||||||||
Proceeds from renewable energy grants | — | 52 | — | — | 52 | |||||||||||||||
Proceeds from sale of assets, net of cash disposed of | 13 | — | — | — | 13 | |||||||||||||||
Other | 7 | (1 | ) | (13 | ) | — | (7 | ) | ||||||||||||
Net Cash (Used)/Provided by Investing Activities | (1,322 | ) | (1,487 | ) | 778 | — | (2,031 | ) | ||||||||||||
Cash Flows from Financing Activities | ||||||||||||||||||||
Proceeds from intercompany loans | — | — | 1,154 | (1,154 | ) | — | ||||||||||||||
Payment of dividends to common and preferred stockholders | — | — | (113 | ) | — | (113 | ) | |||||||||||||
Payment for treasury stock | — | — | (25 | ) | — | (25 | ) | |||||||||||||
Net (payments for)/receipts from settlement of acquired derivatives that include financing elements | (67 | ) | 244 | — | — | 177 | ||||||||||||||
Contributions from noncontrolling interest in subsidiaries | — | 504 | — | — | 504 | |||||||||||||||
Proceeds from issuance of long-term debt | — | 1,120 | 485 | — | 1,605 | |||||||||||||||
Proceeds from issuance of common stock | — | — | 14 | — | 14 | |||||||||||||||
Payment of debt issuance and hedging costs | — | (9 | ) | (34 | ) | — | (43 | ) | ||||||||||||
Payments for short and long-term debt | — | (654 | ) | (214 | ) | — | (868 | ) | ||||||||||||
Net Cash (Used)/Provided by Financing Activities | (67 | ) | 1,205 | 1,267 | (1,154 | ) | 1,251 | |||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | (1 | ) | — | — | (1 | ) | |||||||||||||
Net (Decrease)/Increase in Cash and Cash Equivalents | (55 | ) | (148 | ) | 245 | — | 42 | |||||||||||||
Cash and Cash Equivalents at Beginning of Period | 78 | 1,258 | 751 | — | 2,087 | |||||||||||||||
Cash and Cash Equivalents at End of Period | $ | 23 | $ | 1,110 | $ | 996 | $ | — | $ | 2,129 | ||||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating Revenues | ||||||||||||||||||||
Total operating revenues | $ | 2,237 | $ | 120 | $ | — | $ | (26 | ) | $ | 2,331 | |||||||||
Operating Costs and Expenses | ||||||||||||||||||||
Cost of operations | 1,715 | 47 | 1 | (23 | ) | 1,740 | ||||||||||||||
Depreciation and amortization | 217 | 20 | 2 | — | 239 | |||||||||||||||
Selling, general and administrative | 154 | — | 73 | (3 | ) | 224 | ||||||||||||||
Acquisition-related transaction and integration costs | — | — | 18 | — | 18 | |||||||||||||||
Development activity expenses | — | 14 | 10 | — | 24 | |||||||||||||||
Total operating costs and expenses | 2,086 | 81 | 104 | (26 | ) | 2,245 | ||||||||||||||
Operating Income/(Loss) | 151 | 39 | (104 | ) | — | 86 | ||||||||||||||
Other Income/(Expense) | ||||||||||||||||||||
Equity in (losses)/earnings of consolidated subsidiaries | (10 | ) | 1 | 121 | (112 | ) | — | |||||||||||||
Equity in earnings of unconsolidated affiliates | 4 | — | — | — | 4 | |||||||||||||||
Other income, net | — | 2 | 7 | — | 9 | |||||||||||||||
Loss on debt extinguishment | — | — | (41 | ) | — | (41 | ) | |||||||||||||
Interest expense | (5 | ) | (21 | ) | (137 | ) | — | (163 | ) | |||||||||||
Total other expense | (11 | ) | (18 | ) | (50 | ) | (112 | ) | (191 | ) | ||||||||||
Income/(Loss) Before Income Taxes | 140 | 21 | (154 | ) | (112 | ) | (105 | ) | ||||||||||||
Income tax expense/(benefit) | 67 | (27 | ) | (153 | ) | — | (113 | ) | ||||||||||||
Net Income/(Loss) | 73 | 48 | (1 | ) | (112 | ) | 8 | |||||||||||||
Less: Net income attributable to noncontrolling interest | — | 9 | — | — | 9 | |||||||||||||||
Net Income/(Loss) attributable to NRG Energy, Inc. | $ | 73 | $ | 39 | $ | (1 | ) | $ | (112 | ) | $ | (1 | ) | |||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating Revenues | ||||||||||||||||||||
Total operating revenues | $ | 6,058 | $ | 353 | $ | — | $ | (52 | ) | $ | 6,359 | |||||||||
Operating Costs and Expenses | ||||||||||||||||||||
Cost of operations | 4,512 | 186 | 7 | (45 | ) | 4,660 | ||||||||||||||
Depreciation and amortization | 647 | 48 | 8 | — | 703 | |||||||||||||||
Selling, general and administrative | 387 | 6 | 227 | (7 | ) | 613 | ||||||||||||||
Acquisition-related transaction and integration costs | — | — | 18 | — | 18 | |||||||||||||||
Development activity expenses | — | 22 | 30 | — | 52 | |||||||||||||||
Total operating costs and expenses | 5,546 | 262 | 290 | (52 | ) | 6,046 | ||||||||||||||
Operating Income/(Loss) | 512 | 91 | (290 | ) | — | 313 | ||||||||||||||
Other Income/(Expense) | ||||||||||||||||||||
Equity in earnings/(losses) of consolidated subsidiaries | 6 | (11 | ) | 463 | (458 | ) | — | |||||||||||||
Equity in earnings of unconsolidated affiliates | 6 | 20 | — | — | 26 | |||||||||||||||
Other income, net | — | 4 | 8 | — | 12 | |||||||||||||||
Loss on debt extinguishment | — | — | (41 | ) | — | (41 | ) | |||||||||||||
Interest expense | (21 | ) | (60 | ) | (414 | ) | — | (495 | ) | |||||||||||
Total other (expense)/income | (9 | ) | (47 | ) | 16 | (458 | ) | (498 | ) | |||||||||||
Income/(Loss) Before Income Taxes | 503 | 44 | (274 | ) | (458 | ) | (185 | ) | ||||||||||||
Income tax expense/(benefit) | 193 | (122 | ) | (317 | ) | — | (246 | ) | ||||||||||||
Net Income | 310 | 166 | 43 | (458 | ) | 61 | ||||||||||||||
Less: Net income attributable to noncontrolling interest | — | 18 | — | — | 18 | |||||||||||||||
Net Income attributable to NRG Energy, Inc. | $ | 310 | $ | 148 | $ | 43 | $ | (458 | ) | $ | 43 | |||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Net Income/(Loss) | $ | 73 | $ | 48 | $ | (1 | ) | $ | (112 | ) | $ | 8 | ||||||||
Other comprehensive loss, net of tax | ||||||||||||||||||||
Unrealized loss on derivatives, net | (43 | ) | (14 | ) | (54 | ) | 68 | (43 | ) | |||||||||||
Foreign currency translation adjustments, net | — | — | 1 | — | 1 | |||||||||||||||
Foreign currency translation realized upon sale of Schkopau | — | (11 | ) | — | — | (11 | ) | |||||||||||||
Available-for-sale securities, net | — | — | 2 | — | 2 | |||||||||||||||
Other comprehensive loss | (43 | ) | (25 | ) | (51 | ) | 68 | (51 | ) | |||||||||||
Comprehensive income/(loss) | 30 | 23 | (52 | ) | (44 | ) | (43 | ) | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | 9 | — | — | 9 | |||||||||||||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 30 | 14 | (52 | ) | (44 | ) | (52 | ) | ||||||||||||
Dividends for preferred shares | — | — | 2 | — | 2 | |||||||||||||||
Comprehensive income/(loss) available for common stockholders | $ | 30 | $ | 14 | $ | (54 | ) | $ | (44 | ) | $ | (54 | ) | |||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Net Income | $ | 310 | $ | 166 | $ | 43 | $ | (458 | ) | $ | 61 | |||||||||
Other comprehensive loss, net of tax | ||||||||||||||||||||
Unrealized loss on derivatives, net | (122 | ) | (33 | ) | (145 | ) | 168 | (132 | ) | |||||||||||
Foreign currency translation adjustments, net | — | (2 | ) | 1 | — | (1 | ) | |||||||||||||
Foreign currency translation realized upon sale of Schkopau | — | (11 | ) | — | — | (11 | ) | |||||||||||||
Available-for-sale securities, net | — | — | 2 | — | 2 | |||||||||||||||
Other comprehensive loss | (122 | ) | (46 | ) | (142 | ) | 168 | (142 | ) | |||||||||||
Comprehensive income/(loss) | 188 | 120 | (99 | ) | (290 | ) | (81 | ) | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | 18 | — | — | 18 | |||||||||||||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 188 | 102 | (99 | ) | (290 | ) | (99 | ) | ||||||||||||
Dividends for preferred shares | — | — | 7 | — | 7 | |||||||||||||||
Comprehensive income/(loss) available for common stockholders | $ | 188 | $ | 102 | $ | (106 | ) | $ | (290 | ) | $ | (106 | ) | |||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | ||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
ASSETS | (In millions) | |||||||||||||||||||
Current Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 78 | $ | 1,258 | $ | 751 | $ | — | $ | 2,087 | ||||||||||
Funds deposited by counterparties | 131 | 140 | — | — | 271 | |||||||||||||||
Restricted cash | 11 | 196 | 10 | — | 217 | |||||||||||||||
Accounts receivable, net | 807 | 254 | — | — | 1,061 | |||||||||||||||
Inventory | 472 | 439 | — | — | 911 | |||||||||||||||
Derivative instruments | 2,058 | 604 | — | (18 | ) | 2,644 | ||||||||||||||
Deferred income taxes | (153 | ) | 10 | 199 | — | 56 | ||||||||||||||
Cash collateral paid in support of energy risk management activities | 81 | 148 | — | — | 229 | |||||||||||||||
Renewable energy grant receivable | — | 58 | — | — | 58 | |||||||||||||||
Prepayments and other current assets | 2,966 | (57 | ) | (2,518 | ) | 10 | 401 | |||||||||||||
Total current assets | 6,451 | 3,050 | (1,558 | ) | (8 | ) | 7,935 | |||||||||||||
Net Property, Plant and Equipment | 9,905 | 10,235 | 121 | (20 | ) | 20,241 | ||||||||||||||
Other Assets | ||||||||||||||||||||
Investment in subsidiaries | 244 | (102 | ) | 17,655 | (17,797 | ) | — | |||||||||||||
Equity investments in affiliates | 33 | 633 | 10 | — | 676 | |||||||||||||||
Capital leases and notes receivable, less current portion | 3 | 74 | 531 | (529 | ) | 79 | ||||||||||||||
Goodwill | 1,944 | 12 | — | — | 1,956 | |||||||||||||||
Intangible assets, net | 1,042 | 177 | 33 | (52 | ) | 1,200 | ||||||||||||||
Nuclear decommissioning trust fund | 473 | — | — | — | 473 | |||||||||||||||
Deferred income taxes | (915 | ) | 1,829 | 368 | — | 1,282 | ||||||||||||||
Derivative instruments | 149 | 515 | — | (2 | ) | 662 | ||||||||||||||
Other non-current assets | 85 | 305 | 210 | — | 600 | |||||||||||||||
Total other assets | 3,058 | 3,443 | 18,807 | (18,380 | ) | 6,928 | ||||||||||||||
Total Assets | $ | 19,414 | $ | 16,728 | $ | 17,370 | $ | (18,408 | ) | $ | 35,104 | |||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||
Current portion of long-term debt and capital leases | $ | 1 | $ | 137 | $ | 15 | $ | (6 | ) | $ | 147 | |||||||||
Accounts payable | 541 | 584 | 46 | — | 1,171 | |||||||||||||||
Accounts payable — affiliate | (55 | ) | 1,421 | (1,366 | ) | — | — | |||||||||||||
Derivative instruments | 1,726 | 271 | 2 | (18 | ) | 1,981 | ||||||||||||||
Cash collateral received in support of energy risk management activities | 131 | 140 | — | — | 271 | |||||||||||||||
Accrued expenses and other current liabilities | 354 | 488 | 243 | — | 1,085 | |||||||||||||||
Total current liabilities | 2,698 | 3,041 | (1,060 | ) | (24 | ) | 4,655 | |||||||||||||
Other Liabilities | ||||||||||||||||||||
Long-term debt and capital leases | 310 | 8,459 | 7,496 | (529 | ) | 15,736 | ||||||||||||||
Nuclear decommissioning reserve | 354 | — | — | — | 354 | |||||||||||||||
Nuclear decommissioning trust liability | 273 | — | — | — | 273 | |||||||||||||||
Deferred income taxes | — | 55 | — | — | 55 | |||||||||||||||
Derivative instruments | 312 | 190 | — | (2 | ) | 500 | ||||||||||||||
Out-of-market contracts | 180 | 1,082 | — | (31 | ) | 1,231 | ||||||||||||||
Other non-current liabilities | 618 | 800 | 135 | — | 1,553 | |||||||||||||||
Total non-current liabilities | 2,047 | 10,586 | 7,631 | (562 | ) | 19,702 | ||||||||||||||
Total liabilities | 4,745 | 13,627 | 6,571 | (586 | ) | 24,357 | ||||||||||||||
3.625% Preferred Stock | — | — | 249 | — | 249 | |||||||||||||||
Stockholders’ Equity | 14,669 | 3,101 | 10,550 | (17,822 | ) | 10,498 | ||||||||||||||
Total Liabilities and Stockholders’ Equity | $ | 19,414 | $ | 16,728 | $ | 17,370 | $ | (18,408 | ) | $ | 35,104 | |||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated Balance | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Cash Flows from Operating Activities | ||||||||||||||||||||
Net Cash Provided/(Used) by Operating Activities | 1,942 | 177 | (883 | ) | (178 | ) | 1,058 | |||||||||||||
Cash Flows from Investing Activities | ||||||||||||||||||||
Intercompany loans to subsidiaries | (1,686 | ) | 416 | — | 1,270 | — | ||||||||||||||
Acquisition of businesses, net of cash acquired | — | (17 | ) | (23 | ) | — | (40 | ) | ||||||||||||
Capital expenditures | (183 | ) | (2,241 | ) | (50 | ) | — | (2,474 | ) | |||||||||||
Increase in restricted cash, net | (2 | ) | (94 | ) | — | — | (96 | ) | ||||||||||||
Decrease in restricted cash — U.S. DOE projects | — | 113 | 38 | — | 151 | |||||||||||||||
Increase in notes receivable | — | (20 | ) | (2 | ) | — | (22 | ) | ||||||||||||
Investments in nuclear decommissioning trust fund securities | (341 | ) | — | — | — | (341 | ) | |||||||||||||
Proceeds from sales of nuclear decommissioning trust fund securities | 316 | — | — | — | 316 | |||||||||||||||
Proceeds from renewable energy grants | 3 | 46 | — | — | 49 | |||||||||||||||
Proceeds from sale of assets | 133 | — | 4 | — | 137 | |||||||||||||||
Other | 13 | (8 | ) | (14 | ) | — | (9 | ) | ||||||||||||
Net Cash Used by Investing Activities | (1,747 | ) | (1,805 | ) | (47 | ) | 1,270 | (2,329 | ) | |||||||||||
Cash Flows from Financing Activities | ||||||||||||||||||||
Proceeds from intercompany loans | — | — | 1,270 | (1,270 | ) | — | ||||||||||||||
Payment of dividends to preferred stockholders | (172 | ) | (6 | ) | — | 178 | — | |||||||||||||
Payment of intercompany dividends | — | — | (28 | ) | — | (28 | ) | |||||||||||||
Net payment for settlement of acquired derivatives that include financing elements | (65 | ) | — | — | — | (65 | ) | |||||||||||||
Proceeds from issuance of long-term debt | 9 | 1,526 | 1,006 | — | 2,541 | |||||||||||||||
Sale proceeds and other contributions from noncontrolling interest in subsidiaries | — | 316 | — | — | 316 | |||||||||||||||
Payment of debt issuance costs | — | (16 | ) | (14 | ) | — | (30 | ) | ||||||||||||
Payments for short and long-term debt | — | (51 | ) | (904 | ) | — | (955 | ) | ||||||||||||
Net Cash (Used)/Provided by Financing Activities | (228 | ) | 1,769 | 1,330 | (1,092 | ) | 1,779 | |||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | (3 | ) | — | — | (3 | ) | |||||||||||||
Net (Decrease)/Increase in Cash and Cash Equivalents | (33 | ) | 138 | 400 | — | 505 | ||||||||||||||
Cash and Cash Equivalents at Beginning of Period | 44 | 85 | 976 | — | 1,105 | |||||||||||||||
Cash and Cash Equivalents at End of Period | $ | 11 | $ | 223 | $ | 1,376 | $ | — | $ | 1,610 | ||||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2013 | |
Significant Accounting Policies [Abstract] | ' |
Use of Estimates (Policy) | ' |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |
Development Activity Expenses (Policy) | ' |
Development Activity Expenses | |
Development activity expenses include project development costs, which are expensed in the preliminary stages of a project and capitalized when the project is deemed to be commercially viable. Commercial viability is determined by one or a series of actions including, among others, Board of Director approval pursuant to a formal project plan that subjects the Company to significant future obligations that can only be discharged by the use of a Company asset. When a project is available for operations, capitalized project development costs are reclassified to property, plant and equipment and amortized on a straight-line basis over the estimated useful life of the project's related assets. Capitalized costs are charged to expense if a project is abandoned or management otherwise determines the costs to be unrecoverable. | |
Development activity expenses also include selling, general, and administrative expenses associated with the current operations of certain developing businesses including residential solar, electric vehicles, waste-to-energy, carbon capture and other emerging technologies. The revenue associated with these businesses was immaterial for the three and nine months ended September 30, 2013 and 2012. When it is determined that a business will remain an ongoing part of the Company's operations or when operating revenues become material relative to the operating costs of the underlying business, the Company no longer classifies a business as a development activity. | |
Nuclear Decommissioning (Policy) | ' |
NRG's Nuclear Decommissioning Trust Fund assets are comprised of securities classified as available-for-sale and recorded at fair value based on actively quoted market prices. NRG accounts for the Nuclear Decommissioning Trust Fund in accordance with ASC 980, Regulated Operations, because the Company's nuclear decommissioning activities are subject to approval by the PUCT with regulated rates that are designed to recover all decommissioning costs and that can be charged to and collected from the ratepayers per PUCT mandate. Since the Company is in compliance with PUCT rules and regulations regarding decommissioning trusts and the cost of decommissioning is the responsibility of the Texas ratepayers, not NRG, all realized and unrealized gains or losses (including other-than-temporary impairments) related to the Nuclear Decommissioning Trust Fund are recorded to nuclear decommissioning trust liability and are not included in net income or accumulated other comprehensive income, consistent with regulatory treatment. | |
Segment Reporting (Policy) | ' |
Effective June 2013, the Company's segment structure and its allocation of corporate expenses were updated to reflect how management currently makes financial decisions and allocates resources. The Company has recast data from prior periods to reflect this change in reportable segments to conform to the current year presentation. The Company's businesses are primarily segregated based on the Retail Business, conventional power generation, alternative energy businesses, NRG Yield, and corporate activities. Within NRG's conventional power generation, there are distinct components with separate operating results and management structures for the following geographical regions: Texas, East, South Central, West and Other, which includes international businesses and maintenance services. The Company's alternative energy segment includes solar and wind assets, excluding those in the NRG Yield segment, electric vehicle services and the carbon capture business. NRG Yield includes certain of the Company's contracted generation assets including three natural gas or dual-fired facilities, eight utility-scale solar and wind generation facilities, two portfolios of distributed solar facilities and thermal infrastructure assets. Intersegment sales are accounted for at market. |
Basis_of_Presentation_Basis_of
Basis of Presentation Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2013 | |
Basis of Presentation Disclosure [Abstract] | ' |
IPO of NRG Yield | ' |
The following table represents the structure of NRG Yield, Inc. after the initial public offering: | |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Noncontrolling Interest [Abstract] | ' | |||
Schedule of Change in Noncontrolling Interest | ' | |||
The following table reflects the changes in NRG's noncontrolling interest balance: | ||||
(In millions) | ||||
Balance as of December 31, 2012 | $ | 518 | ||
Contributions from noncontrolling interest | 289 | |||
Comprehensive income attributable to noncontrolling interest | 26 | |||
Balance as of September 30, 2013 | $ | 833 | ||
Business_Acquisitions_and_Disp1
Business Acquisitions and Dispositions Business Acquisitions and Dispositions (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | |||||||||||
The following table summarizes the provisional amounts recognized for assets acquired and liabilities assumed as of the acquisition date as well as adjustments made during the nine months ended September 30, 2013 to the amounts initially recorded in 2012 due to the ongoing evaluation of initial estimates. The measurement period adjustments were recorded as an adjustment to the gain on bargain purchase and did not have a significant impact on the Company's consolidated statements of operations, cash flows or financial position in any period. The allocation of the purchase price may be modified up to one year from the date of the acquisition as more information is obtained about the fair value of assets acquired and liabilities assumed. | ||||||||||||
(In millions) | Amounts Recognized | Measurement Period Adjustments | Amounts Recognized | |||||||||
as of Acquisition Date | as of Acquisition Date | |||||||||||
(as previously reported) | (as adjusted) | |||||||||||
Assets | ||||||||||||
Cash | $ | 983 | $ | — | $ | 983 | ||||||
Current and non-current assets | 1,385 | (18 | ) | 1,367 | ||||||||
Property, plant and equipment | 3,936 | (27 | ) | 3,909 | ||||||||
Derivative assets | 1,157 | — | 1,157 | |||||||||
Deferred income taxes | 2,265 | 21 | 2,286 | |||||||||
Total assets acquired | $ | 9,726 | $ | (24 | ) | $ | 9,702 | |||||
Liabilities | ||||||||||||
Current and non-current liabilities | $ | 1,312 | $ | (7 | ) | $ | 1,305 | |||||
Out-of-market contracts and leases | 1,064 | 15 | 1,079 | |||||||||
Derivative liabilities | 399 | — | 399 | |||||||||
Long-term debt and capital leases | 4,203 | 3 | 4,206 | |||||||||
Total liabilities assumed | 6,978 | 11 | 6,989 | |||||||||
Net assets acquired | 2,748 | (35 | ) | 2,713 | ||||||||
Consideration paid | 2,188 | — | 2,188 | |||||||||
Gain on bargain purchase | $ | 560 | $ | (35 | ) | $ | 525 | |||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||
Estimated carrying amounts and fair values of NRG's recorded financial instruments not carried at fair market value | ' | |||||||||||||||||||||||||||||||
The estimated carrying amounts and fair values of NRG's recorded financial instruments not carried at fair market value are as follows: | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Notes receivable (a) | $ | 107 | $ | 107 | $ | 88 | $ | 88 | ||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt, including current portion | 16,699 | 17,061 | 15,866 | 16,492 | ||||||||||||||||||||||||||||
(a) Includes the current portion of notes receivable which is recorded in prepayments and other current assets on the Company's consolidated balance sheet | ||||||||||||||||||||||||||||||||
Assets and liabilities measured and recorded at fair value on the consolidated balance sheets on a recurring basis | ' | |||||||||||||||||||||||||||||||
The following tables present assets and liabilities measured and recorded at fair value on the Company's condensed consolidated balance sheets on a recurring basis and their level within the fair value hierarchy: | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||||||||||
(In millions) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||||
Investment in available-for-sale securities (classified within other | ||||||||||||||||||||||||||||||||
non-current assets): | ||||||||||||||||||||||||||||||||
Debt securities | $ | — | $ | — | $ | 15 | $ | 15 | ||||||||||||||||||||||||
Other (a) | 37 | — | — | 37 | ||||||||||||||||||||||||||||
Trust fund investments: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | 2 | — | — | 2 | ||||||||||||||||||||||||||||
U.S. government and federal agency obligations | 51 | 4 | — | 55 | ||||||||||||||||||||||||||||
Federal agency mortgage-backed securities | — | 58 | — | 58 | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | 12 | — | 12 | ||||||||||||||||||||||||||||
Corporate debt securities | — | 60 | — | 60 | ||||||||||||||||||||||||||||
Equity securities | 281 | — | 55 | 336 | ||||||||||||||||||||||||||||
Foreign government fixed income securities | — | 2 | — | 2 | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Commodity contracts | 436 | 1,337 | 111 | 1,884 | ||||||||||||||||||||||||||||
Interest rate contracts | — | 11 | — | 11 | ||||||||||||||||||||||||||||
Total assets | $ | 807 | $ | 1,484 | $ | 181 | $ | 2,472 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Commodity contracts | $ | 344 | $ | 892 | $ | 118 | $ | 1,354 | ||||||||||||||||||||||||
Interest rate contracts | — | 82 | — | 82 | ||||||||||||||||||||||||||||
Total liabilities | $ | 344 | $ | 974 | $ | 118 | $ | 1,436 | ||||||||||||||||||||||||
(a) Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. | ||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||||||||||
(In millions) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||||
Investment in available-for-sale securities (classified within other | ||||||||||||||||||||||||||||||||
non-current assets): | ||||||||||||||||||||||||||||||||
Debt securities | $ | — | $ | — | $ | 12 | $ | 12 | ||||||||||||||||||||||||
Other (a) | 44 | — | — | 44 | ||||||||||||||||||||||||||||
Trust fund investments: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | 10 | — | — | 10 | ||||||||||||||||||||||||||||
U.S. government and federal agency obligations | 34 | — | — | 34 | ||||||||||||||||||||||||||||
Federal agency mortgage-backed securities | — | 59 | — | 59 | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities | — | 9 | — | 9 | ||||||||||||||||||||||||||||
Corporate debt securities | — | 80 | — | 80 | ||||||||||||||||||||||||||||
Equity securities | 233 | — | 47 | 280 | ||||||||||||||||||||||||||||
Foreign government fixed income securities | — | 2 | — | 2 | ||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||
Commodity contracts | 1,457 | 1,711 | 135 | 3,303 | ||||||||||||||||||||||||||||
Interest rate contracts | — | 3 | — | 3 | ||||||||||||||||||||||||||||
Total assets | $ | 1,778 | $ | 1,864 | $ | 194 | $ | 3,836 | ||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||
Commodity contracts | $ | 1,144 | $ | 1,047 | $ | 147 | $ | 2,338 | ||||||||||||||||||||||||
Interest rate contracts | — | 143 | — | 143 | ||||||||||||||||||||||||||||
Total liabilities | $ | 1,144 | $ | 1,190 | $ | 147 | $ | 2,481 | ||||||||||||||||||||||||
(a) Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. | ||||||||||||||||||||||||||||||||
Reconciliation of beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs | ' | |||||||||||||||||||||||||||||||
The following tables reconcile, for the three and nine months ended September 30, 2013 and 2012, the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements, at least annually, using significant unobservable inputs: | ||||||||||||||||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Nine months ended September 30, 2013 | |||||||||||||||||||||||||||||||
(In millions) | Debt Securities | Trust Fund Investments | Derivatives(a) | Total | Debt Securities | Trust Fund Investments | Derivatives(a) | Total | ||||||||||||||||||||||||
Beginning balance | $ | 15 | $ | 50 | $ | (12 | ) | $ | 53 | $ | 12 | $ | 47 | $ | (12 | ) | $ | 47 | ||||||||||||||
Total gains/(losses) — realized/unrealized: | ||||||||||||||||||||||||||||||||
Included in earnings | — | — | 14 | 14 | — | — | (4 | ) | (4 | ) | ||||||||||||||||||||||
Included in OCI | — | — | — | — | 3 | — | — | 3 | ||||||||||||||||||||||||
Included in nuclear decommissioning obligations | — | 5 | — | 5 | — | 7 | — | 7 | ||||||||||||||||||||||||
Purchases | — | — | 4 | 4 | — | 1 | (3 | ) | (2 | ) | ||||||||||||||||||||||
Transfers into Level 3 (b) | — | — | (36 | ) | (36 | ) | — | — | (9 | ) | (9 | ) | ||||||||||||||||||||
Transfers out of Level 3 (b) | — | — | 23 | 23 | — | — | 21 | 21 | ||||||||||||||||||||||||
Ending balance as of | $ | 15 | $ | 55 | $ | (7 | ) | $ | 63 | $ | 15 | $ | 55 | $ | (7 | ) | $ | 63 | ||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Gains for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2013 | $ | — | $ | — | $ | (7 | ) | $ | (7 | ) | $ | — | $ | — | $ | (4 | ) | $ | (4 | ) | ||||||||||||
(a) | Consists of derivative assets and liabilities, net. | |||||||||||||||||||||||||||||||
(b) | Transfers in/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. All transfers in/out are with Level 2. | |||||||||||||||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||
(In millions) | Debt Securities | Trust Fund Investments | Derivatives(a) | Total | Debt Securities | Trust Fund Investments | Derivatives(a) | Total | ||||||||||||||||||||||||
Beginning balance | $ | 9 | $ | 43 | $ | 171 | $ | 223 | $ | 7 | $ | 42 | $ | 8 | $ | 57 | ||||||||||||||||
Total (losses)/gains — realized/unrealized: | ||||||||||||||||||||||||||||||||
Included in earnings | — | — | (9 | ) | (9 | ) | — | — | (3 | ) | (3 | ) | ||||||||||||||||||||
Included in OCI | 2 | — | — | 2 | 4 | — | — | 4 | ||||||||||||||||||||||||
Included in nuclear decommissioning obligations | — | 3 | — | 3 | — | 3 | — | 3 | ||||||||||||||||||||||||
Purchases | — | — | (109 | ) | (109 | ) | — | 1 | (1 | ) | — | |||||||||||||||||||||
Transfers into Level 3 (b) | — | — | (31 | ) | (31 | ) | — | — | 4 | 4 | ||||||||||||||||||||||
Transfers out of Level 3 (b) | — | — | (20 | ) | (20 | ) | — | — | (6 | ) | (6 | ) | ||||||||||||||||||||
Ending balance as of | $ | 11 | $ | 46 | $ | 2 | $ | 59 | $ | 11 | $ | 46 | $ | 2 | $ | 59 | ||||||||||||||||
September 30, 2012 | ||||||||||||||||||||||||||||||||
(Losses)/gains for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2012 | $ | — | $ | — | $ | (5 | ) | $ | (5 | ) | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||
(a) | Consists of derivative assets and liabilities, net. | |||||||||||||||||||||||||||||||
(b) | Transfers in/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. All transfers in/out are with Level 2. | |||||||||||||||||||||||||||||||
Net counterparty credit exposure by industry sector and by counterparty credit quality | ' | |||||||||||||||||||||||||||||||
The following tables highlight net counterparty credit exposure by industry sector and by counterparty credit quality. Net counterparty credit exposure is defined as the aggregate net asset position for NRG with counterparties where netting is permitted under the enabling agreement and includes all cash flow, mark-to-market and NPNS, and non-derivative transactions. The exposure is shown net of collateral held, and includes amounts net of receivables or payables. | ||||||||||||||||||||||||||||||||
Net Exposure (a) | ||||||||||||||||||||||||||||||||
Category | (% of Total) | |||||||||||||||||||||||||||||||
Financial institutions | 58 | % | ||||||||||||||||||||||||||||||
Utilities, energy merchants, marketers and other | 34 | |||||||||||||||||||||||||||||||
ISOs | 6 | |||||||||||||||||||||||||||||||
Coal and emissions | 2 | |||||||||||||||||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||||||||||||||||
Net Exposure (a) | ||||||||||||||||||||||||||||||||
Category | (% of Total) | |||||||||||||||||||||||||||||||
Investment grade | 96 | % | ||||||||||||||||||||||||||||||
Non-rated (b) | 4 | |||||||||||||||||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||||||||||||||||
(a) | Counterparty credit exposure excludes uranium and coal transportation contracts because of the unavailability of market prices. | |||||||||||||||||||||||||||||||
(b) | For non-rated counterparties, a significant portion are related to ISO and municipal public power entities, which are considered investment grade equivalent ratings based on NRG's internal credit ratings. |
Nuclear_Decommissioning_Trust_1
Nuclear Decommissioning Trust Fund (Tables) | 9 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||
Nuclear Decommissioning Trust Fund Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Summary of aggregate fair values and unrealized gains and losses (including other-than-temporary impairments) for the securities held in the nuclear decommissioning trust fund | ' | |||||||||||||||||||||||||
The following table summarizes the aggregate fair values and unrealized gains and losses (including other-than-temporary impairments) for the securities held in the trust funds, as well as information about the contractual maturities of those securities. | ||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||
(In millions, except otherwise noted) | Fair Value | Unrealized Gains | Unrealized Losses | Weighted-average Maturities (In years) | Fair Value | Unrealized Gains (a) | Weighted-average Maturities (In years) | |||||||||||||||||||
Cash and cash equivalents | $ | 2 | $ | — | $ | — | — | $ | 10 | $ | — | — | ||||||||||||||
U.S. government and federal agency obligations | 54 | 2 | 1 | 9 | 33 | 2 | 10 | |||||||||||||||||||
Federal agency mortgage-backed securities | 58 | 1 | 1 | 24 | 59 | 2 | 23 | |||||||||||||||||||
Commercial mortgage-backed securities | 12 | — | — | 29 | 9 | — | 30 | |||||||||||||||||||
Corporate debt securities | 60 | 2 | 1 | 9 | 80 | 4 | 11 | |||||||||||||||||||
Equity securities | 336 | 187 | — | — | 280 | 143 | — | |||||||||||||||||||
Foreign government fixed income securities | 2 | — | — | 9 | 2 | — | 6 | |||||||||||||||||||
Total | $ | 524 | $ | 192 | $ | 3 | $ | 473 | $ | 151 | ||||||||||||||||
Summary of proceeds from sales of available-for-sale securities and the related realized gains and losses | ' | |||||||||||||||||||||||||
The following table summarizes proceeds from sales of available-for-sale securities and the related realized gains and losses from these sales. The cost of securities sold is determined on the specific identification method. | ||||||||||||||||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||
Realized gains | $ | 10 | $ | 8 | ||||||||||||||||||||||
Realized losses | 7 | 5 | ||||||||||||||||||||||||
Proceeds from sale of securities | 344 | 316 | ||||||||||||||||||||||||
Accounting_for_Derivative_Inst1
Accounting for Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||
Net notional volume buy/(sell) of NRG's open derivative transactions broken out by commodity | ' | |||||||||||||||||||||||
The following table summarizes the net notional volume buy/(sell) of NRG's open derivative transactions broken out by commodity, excluding those derivatives that qualified for the NPNS exception as of September 30, 2013 and December 31, 2012. Option contracts are reflected using delta volume. Delta volume equals the notional volume of an option adjusted for the probability that the option will be in-the-money at its expiration date. | ||||||||||||||||||||||||
Total Volume | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Commodity | Units | (In millions) | ||||||||||||||||||||||
Emissions | Short Ton | (1 | ) | (1 | ) | |||||||||||||||||||
Coal | Short Ton | 42 | 37 | |||||||||||||||||||||
Natural Gas | MMBtu | (215 | ) | (413 | ) | |||||||||||||||||||
Oil | Barrel | — | 1 | |||||||||||||||||||||
Power | MWh | (16 | ) | (14 | ) | |||||||||||||||||||
Interest | Dollars | $ | 1,520 | $ | 2,612 | |||||||||||||||||||
Fair value within the derivative instrument valuation on the balance sheets | ' | |||||||||||||||||||||||
The following table summarizes the fair value within the derivative instrument valuation on the balance sheets: | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Derivatives designated as cash flow hedges: | ||||||||||||||||||||||||
Interest rate contracts current | $ | — | $ | — | $ | 27 | $ | 29 | ||||||||||||||||
Interest rate contracts long-term | 8 | 3 | 47 | 96 | ||||||||||||||||||||
Commodity contracts current | — | — | 2 | 3 | ||||||||||||||||||||
Commodity contracts long-term | — | — | 1 | 1 | ||||||||||||||||||||
Total derivatives designated as cash flow hedges | 8 | 3 | 77 | 129 | ||||||||||||||||||||
Derivatives not designated as cash flow hedges: | ||||||||||||||||||||||||
Interest rate contracts current | — | — | 5 | 7 | ||||||||||||||||||||
Interest rate contracts long-term | 3 | — | 3 | 11 | ||||||||||||||||||||
Commodity contracts current | 1,389 | 2,644 | 1,030 | 1,942 | ||||||||||||||||||||
Commodity contracts long-term | 495 | 659 | 321 | 392 | ||||||||||||||||||||
Total derivatives not designated as cash flow hedges | 1,887 | 3,303 | 1,359 | 2,352 | ||||||||||||||||||||
Total derivatives | $ | 1,895 | $ | 3,306 | $ | 1,436 | $ | 2,481 | ||||||||||||||||
Offsetting of derivatives by counterparty master agreement level and collateral received or paid | ' | |||||||||||||||||||||||
The following table summarizes the offsetting of derivatives by counterparty master agreement level and collateral received or paid: | ||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | ||||||||||||||||||||||||
Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
As of September 30, 2013 | (In millions) | |||||||||||||||||||||||
Commodity contracts: | ||||||||||||||||||||||||
Derivative assets | $ | 1,884 | $ | (1,151 | ) | $ | (195 | ) | $ | 538 | ||||||||||||||
Derivative liabilities | (1,354 | ) | 1,151 | 65 | (138 | ) | ||||||||||||||||||
Total commodity contracts | 530 | — | (130 | ) | 400 | |||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Derivative assets | 11 | (6 | ) | — | 5 | |||||||||||||||||||
Derivative liabilities | (82 | ) | 6 | — | (76 | ) | ||||||||||||||||||
Total interest rate contracts | (71 | ) | — | — | (71 | ) | ||||||||||||||||||
Total derivative instruments | $ | 459 | $ | — | $ | (130 | ) | $ | 329 | |||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | ||||||||||||||||||||||||
Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
As of December 31, 2012 | (In millions) | |||||||||||||||||||||||
Commodity contracts: | ||||||||||||||||||||||||
Derivative assets | $ | 3,303 | $ | (2,024 | ) | $ | (374 | ) | $ | 905 | ||||||||||||||
Derivative liabilities | (2,338 | ) | 2,024 | 28 | (286 | ) | ||||||||||||||||||
Total commodity contracts | 965 | — | (346 | ) | 619 | |||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||||
Derivative assets | 3 | — | — | 3 | ||||||||||||||||||||
Derivative liabilities | (143 | ) | — | — | (143 | ) | ||||||||||||||||||
Total interest rate contracts | (140 | ) | — | — | (140 | ) | ||||||||||||||||||
Total derivative instruments | $ | 825 | $ | — | $ | (346 | ) | $ | 479 | |||||||||||||||
Effects of ASC 815 on the Company's accumulated OCI balance attributable to cash flow hedge derivatives, net of tax | ' | |||||||||||||||||||||||
The following table summarizes the effects of ASC 815, Derivatives and Hedging, or ASC 815, on the Company's accumulated OCI balance attributable to cash flow hedge derivatives, net of tax: | ||||||||||||||||||||||||
Three months ended September 30, 2013 | Nine months ended September 30, 2013 | |||||||||||||||||||||||
Energy Commodities | Interest Rate | Total | Energy Commodities | Interest Rate | Total | |||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Accumulated OCI beginning balance | $ | 24 | $ | (31 | ) | $ | (7 | ) | $ | 41 | $ | (72 | ) | $ | (31 | ) | ||||||||
Reclassified from accumulated OCI to income: | ||||||||||||||||||||||||
Due to realization of previously deferred amounts | (15 | ) | 2 | (13 | ) | (38 | ) | 6 | (32 | ) | ||||||||||||||
Mark-to-market of cash flow hedge accounting contracts | 1 | (4 | ) | (3 | ) | 7 | 33 | 40 | ||||||||||||||||
Accumulated OCI ending balance, net of $13 tax | $ | 10 | $ | (33 | ) | $ | (23 | ) | $ | 10 | $ | (33 | ) | $ | (23 | ) | ||||||||
Gains/(losses) expected to be realized from OCI during the next 12 months, net of $1 tax | $ | 11 | $ | (9 | ) | $ | 2 | $ | 11 | $ | (9 | ) | $ | 2 | ||||||||||
Gains recognized in income from the ineffective portion of cash flow hedges | $ | 1 | $ | — | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||
Three months ended September 30, 2012 | Nine months ended September 30, 2012 | |||||||||||||||||||||||
Energy Commodities | Interest Rate | Total | Energy Commodities | Interest Rate | Total | |||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Accumulated OCI beginning balance | $ | 111 | $ | (68 | ) | $ | 43 | $ | 188 | $ | (56 | ) | $ | 132 | ||||||||||
Reclassified from accumulated OCI to income: | ||||||||||||||||||||||||
Due to realization of previously deferred amounts | (30 | ) | 3 | (27 | ) | (106 | ) | 11 | (95 | ) | ||||||||||||||
Mark-to-market of cash flow hedge accounting contracts | (1 | ) | (15 | ) | (16 | ) | (2 | ) | (35 | ) | (37 | ) | ||||||||||||
Accumulated OCI ending balance, net of $12 tax | $ | 80 | $ | (80 | ) | $ | — | $ | 80 | $ | (80 | ) | $ | — | ||||||||||
Gains/(losses) expected to be realized from OCI during the next 12 months, net of $38 tax | $ | 77 | $ | (11 | ) | $ | 66 | $ | 77 | $ | (11 | ) | $ | 66 | ||||||||||
Losses recognized in income from the ineffective portion of cash flow hedges | $ | — | $ | — | $ | — | $ | (51 | ) | $ | — | $ | (51 | ) | ||||||||||
Pre-tax effects of economic hedges that have not been designated as cash flow hedges, ineffectiveness on cash flow hedges and trading activity on the Company's statement of operations | ' | |||||||||||||||||||||||
The following table summarizes the pre-tax effects of economic hedges that have not been designated as cash flow hedges, ineffectiveness on cash flow hedges and trading activity on the Company's statement of operations. The effect of commodity hedges is included within operating revenues and cost of operations and the effect of interest rate hedges is included in interest expense. | ||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Unrealized mark-to-market results | (In millions) | |||||||||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to economic hedges | $ | (48 | ) | $ | (85 | ) | $ | (80 | ) | $ | (160 | ) | ||||||||||||
Reversal of (gain)/loss positions acquired as part of the Reliant Energy, Green Mountain Energy and GenOn acquisitions | (82 | ) | (15 | ) | (269 | ) | 5 | |||||||||||||||||
Net unrealized gains/(losses) on open positions related to economic hedges | 76 | (159 | ) | 131 | (78 | ) | ||||||||||||||||||
Gains/(losses) on ineffectiveness associated with open positions treated as | 1 | — | — | (51 | ) | |||||||||||||||||||
cash flow hedges | ||||||||||||||||||||||||
Total unrealized mark-to-market losses for economic hedging activities | (53 | ) | (259 | ) | (218 | ) | (284 | ) | ||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to trading activity | (13 | ) | (15 | ) | (42 | ) | (45 | ) | ||||||||||||||||
Reversal of gain positions acquired as part of the GenOn acquisitions | (2 | ) | — | (2 | ) | — | ||||||||||||||||||
Net unrealized gains/(losses) on open positions related to trading activity | 26 | (3 | ) | — | 33 | |||||||||||||||||||
Total unrealized mark-to-market gains/(losses) for trading activity | 11 | (18 | ) | (44 | ) | (12 | ) | |||||||||||||||||
Total unrealized losses | $ | (42 | ) | $ | (277 | ) | $ | (262 | ) | $ | (296 | ) | ||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||
Unrealized losses included in operating revenues | $ | (64 | ) | $ | (395 | ) | $ | (404 | ) | $ | (470 | ) | ||||||||||||
Unrealized gains included in cost of operations | 22 | 118 | 142 | 174 | ||||||||||||||||||||
Total impact to statement of operations — energy commodities | $ | (42 | ) | $ | (277 | ) | $ | (262 | ) | $ | (296 | ) | ||||||||||||
Total impact to statement of operations — interest rate contracts | $ | 4 | $ | — | $ | 10 | $ | (12 | ) | |||||||||||||||
Debt_and_Capital_Leases_Debt_a
Debt and Capital Leases Debt and Capital Leases (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Long Term Debt Disclosure [Abstract] | ' | ||||||||||
Long-term debt and capital leases | ' | ||||||||||
Long-term debt and capital leases consisted of the following: | |||||||||||
September 30, 2013 | December 31, 2012 | Current interest rate % (a) | |||||||||
(In millions, except rates) | |||||||||||
NRG recourse debt: | |||||||||||
Senior notes, due 2018 | $ | 1,130 | $ | 1,200 | 7.625 | ||||||
Senior notes, due 2019 | 800 | 800 | 7.625 | ||||||||
Senior notes, due 2019 | 601 | 693 | 8.5 | ||||||||
Senior notes, due 2020 | 1,063 | 1,100 | 8.25 | ||||||||
Senior notes, due 2021 | 1,128 | 1,128 | 7.875 | ||||||||
Senior notes, due 2023 | 990 | 990 | 6.625 | ||||||||
Term loan facility, due 2018 | 2,006 | 1,573 | L+2.00 | ||||||||
Indian River Power LLC, tax-exempt bonds, due 2040 and 2045 | 247 | 247 | 5.375 - 6.000 | ||||||||
Dunkirk Power LLC, tax-exempt bonds, due 2042 | 59 | 59 | 5.875 | ||||||||
Fort Bend County, tax-exempt bonds, due 2038 and 2042 | 67 | 28 | 4.75 | ||||||||
Subtotal NRG Recourse Debt | 8,091 | 7,818 | |||||||||
NRG non-recourse debt: | |||||||||||
GenOn senior notes, due 2014 | — | 617 | 7.625 | ||||||||
GenOn senior notes, due 2017 | 787 | 800 | 7.875 | ||||||||
GenOn senior notes, due 2018 | 785 | 801 | 9.5 | ||||||||
GenOn senior notes, due 2020 | 624 | 631 | 9.875 | ||||||||
GenOn Americas Generation senior notes, due 2021 | 504 | 509 | 8.5 | ||||||||
GenOn Americas Generation senior notes, due 2031 | 435 | 437 | 9.125 | ||||||||
NRG Marsh Landing, due 2017 and 2023 | 500 | 390 | L+2.50 - 2.75 | ||||||||
CVSR - High Plains Ranch II LLC, due 2013 and 2037 | 1,104 | 786 | 0.611 - 3.579 | ||||||||
NRG West Holdings LLC, due 2023 | 475 | 350 | L+2.25 - 2.75 | ||||||||
Agua Caliente Solar LLC, due 2037 | 764 | 640 | 2.395 - 3.473 | ||||||||
Ivanpah Financing, due 2014 and 2038 | 1,561 | 1,437 | 1.116 - 4.256 | ||||||||
South Trent Wind LLC, due 2020 | 69 | 72 | L+2.625 | ||||||||
NRG Peaker Finance Co. LLC, bonds, due 2019 | 176 | 173 | L+1.07 | ||||||||
NRG Energy Center Minneapolis LLC, senior secured notes, due 2013, 2017 and 2025 | 129 | 137 | 5.95 - 7.25 | ||||||||
NRG Solar Alpine LLC, due 2013 and 2022 | 223 | 2 | L+2.25 - 2.50 | ||||||||
NRG Solar Borrego I LLC, due 2024 and 2038 | 79 | — | L+2.50/5.65 | ||||||||
NRG Solar Avra Valley LLC | 64 | 66 | L+2.25 | ||||||||
TA - High Desert LLC, due 2013, 2023 and 2033 | 82 | — | L+2.50/5.15 | ||||||||
NRG Solar Kansas South LLC, due 2013 and 2031 | 59 | — | L+2.00 - 2.625 | ||||||||
Other | 188 | 200 | various | ||||||||
Subtotal NRG Non-Recourse Debt | 8,608 | 8,048 | |||||||||
Subtotal long-term debt (including current maturities) | 16,699 | 15,866 | |||||||||
Capital leases: | |||||||||||
Chalk Point capital lease, due 2015 | 11 | 14 | 8.19 | ||||||||
Other | 3 | 3 | various | ||||||||
Subtotal long-term debt and capital leases (including current maturities) | 16,713 | 15,883 | |||||||||
Less current maturities | 911 | 147 | |||||||||
Total long-term debt and capital leases | $ | 15,802 | $ | 15,736 | |||||||
(a) As of September 30, 2013, L+ equals 3 month LIBOR plus x%, with the exception of NRG Solar Alpine LLC cash grant loan and NRG Solar Kansas South LLC cash grant bridge loan which are 1 month LIBOR plus x% and NRG Solar Kansas South LLC term loan which is 6 month LIBOR plus x%. |
Changes_in_Capital_Structure_T
Changes in Capital Structure (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Changes in Capital Structure Disclosure [Abstract] | ' | |||||||||||
Changes in NRG's common shares issued and outstanding | ' | |||||||||||
The following table reflects the changes in NRG's common shares issued and outstanding: | ||||||||||||
Issued | Treasury | Outstanding | ||||||||||
Balance as of December 31, 2012 | 399,112,616 | (76,505,718 | ) | 322,606,898 | ||||||||
Shares issued under LTIP | 1,562,480 | — | 1,562,480 | |||||||||
Shares issued under ESPP | — | 130,482 | 130,482 | |||||||||
Shares repurchased under Capital Allocation Program | — | (972,292 | ) | (972,292 | ) | |||||||
Balance as of September 30, 2013 | 400,675,096 | (77,347,528 | ) | 323,327,568 | ||||||||
Schedule of dividends paid | ' | |||||||||||
The following table lists the dividends paid during 2013: | ||||||||||||
First Quarter 2013 | Second Quarter 2013 | Third Quarter 2013 | ||||||||||
Dividends per Common Share | $ | 0.09 | $ | 0.12 | $ | 0.12 | ||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings (Loss) Per Share Disclosure [Abstract] | ' | |||||||||||||||
Reconciliation of NRG's basic and diluted earnings per share | ' | |||||||||||||||
The reconciliation of NRG's basic and diluted earnings/(loss) per share is shown in the following table: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
(In millions, except per share data) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Basic earnings/(loss) per share attributable to NRG common stockholders | ||||||||||||||||
Net income/(loss) attributable to NRG Energy, Inc. | $ | 124 | $ | (1 | ) | $ | (74 | ) | $ | 43 | ||||||
Dividends for preferred shares | 2 | 2 | 7 | 7 | ||||||||||||
Income/(loss) Available for Common Stockholders | $ | 122 | $ | (3 | ) | $ | (81 | ) | $ | 36 | ||||||
Weighted average number of common shares outstanding | 323 | 228 | 323 | 228 | ||||||||||||
Earnings/(loss) per weighted average common share — basic | $ | 0.38 | $ | (0.01 | ) | $ | (0.25 | ) | $ | 0.16 | ||||||
Diluted earnings/(loss) per share attributable to NRG common stockholders | ||||||||||||||||
Weighted average number of common shares outstanding | 323 | 228 | 323 | 228 | ||||||||||||
Incremental shares attributable to the issuance of equity compensation (treasury stock method) | 4 | — | — | 2 | ||||||||||||
Total dilutive shares | 327 | 228 | 323 | 230 | ||||||||||||
Earnings/(loss) per weighted average common share — diluted | $ | 0.37 | $ | (0.01 | ) | $ | (0.25 | ) | $ | 0.16 | ||||||
Summary of NRG's outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company's diluted earnings per share | ' | |||||||||||||||
The following table summarizes NRG’s outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company’s diluted earnings/(loss) per share: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
(In millions of shares) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Equity compensation plans | 2 | 11 | 10 | 6 | ||||||||||||
Embedded derivative of 3.625% redeemable perpetual preferred stock | 16 | 16 | 16 | 16 | ||||||||||||
Total | 18 | 27 | 26 | 22 | ||||||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||
Schedule of segment reporting information, by segment | ' | |||||||||||||||||||||||||||||||||||||||||||
(In millions) | Conventional Power Generation | |||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Retail(a) | Texas(a) | East(a) | South(a) | West(a) | Other(a) | Alternative Energy(a) | NRG Yield(a) | Corporate(a)(b) | Elimination | Total | |||||||||||||||||||||||||||||||||
Central | ||||||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 1,994 | $ | 881 | $ | 1,011 | $ | 244 | $ | 134 | $ | 38 | $ | 83 | $ | 95 | $ | — | $ | (990 | ) | $ | 3,490 | |||||||||||||||||||||
Depreciation and amortization | 37 | 116 | 79 | 24 | 13 | 1 | 27 | 16 | 5 | — | 318 | |||||||||||||||||||||||||||||||||
Equity in earnings/(losses) of unconsolidated affiliates | — | — | — | 1 | (10 | ) | — | (3 | ) | 12 | — | (5 | ) | (5 | ) | |||||||||||||||||||||||||||||
(Loss)/income before income taxes | (60 | ) | 265 | 245 | 17 | 30 | 1 | 1 | 45 | (217 | ) | (21 | ) | 306 | ||||||||||||||||||||||||||||||
Net (loss)/income attributable to NRG Energy, Inc. | $ | (60 | ) | $ | 265 | $ | 245 | $ | 17 | $ | 30 | $ | 1 | $ | (21 | ) | $ | 31 | $ | (375 | ) | $ | (9 | ) | $ | 124 | ||||||||||||||||||
Total assets as of September 30, 2013 | $ | 4,296 | $ | 11,914 | $ | 8,329 | $ | 2,290 | $ | 1,553 | $ | 461 | $ | 6,162 | $ | 2,331 | $ | 4,863 | $ | (7,336 | ) | $ | 34,863 | |||||||||||||||||||||
(a) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 2 | $ | 910 | $ | 55 | $ | — | $ | — | $ | 15 | $ | 8 | $ | — | $ | — | ||||||||||||||||||||||||||
(b) Includes loss on debt extinguishment of $1 million. | ||||||||||||||||||||||||||||||||||||||||||||
(In millions) | Conventional Power Generation | |||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Retail(c) | Texas(c) | East(c) | South(c) | West(c) | Other(c) | Alternative Energy(c) | NRG Yield(c) | Corporate(c)(d) | Elimination | Total | |||||||||||||||||||||||||||||||||
Central | ||||||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 1,856 | $ | 877 | $ | 274 | $ | 270 | $ | 87 | $ | 28 | $ | 49 | $ | 47 | $ | 4 | $ | (1,161 | ) | $ | 2,331 | |||||||||||||||||||||
Depreciation and amortization | 41 | 115 | 32 | 23 | 3 | 1 | 15 | 6 | 3 | — | 239 | |||||||||||||||||||||||||||||||||
Equity in earnings/(losses) of unconsolidated affiliates | — | — | — | — | 4 | 3 | (9 | ) | 6 | — | — | 4 | ||||||||||||||||||||||||||||||||
(Loss)/income before income taxes | (300 | ) | 299 | 30 | 19 | 35 | 5 | (8 | ) | 12 | (197 | ) | — | (105 | ) | |||||||||||||||||||||||||||||
Net (loss)/income attributable to NRG Energy, Inc. | $ | (300 | ) | $ | 299 | $ | 30 | $ | 19 | $ | 35 | $ | 5 | $ | (16 | ) | $ | 4 | $ | (77 | ) | $ | — | $ | (1 | ) | ||||||||||||||||||
(c) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 3 | $ | 1,126 | $ | 6 | $ | — | $ | — | $ | 12 | $ | 10 | $ | — | $ | 4 | ||||||||||||||||||||||||||
(d) Includes loss on debt extinguishment of $41 million. | ||||||||||||||||||||||||||||||||||||||||||||
(In millions) | Conventional Power Generation | |||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Retail(e) | Texas(e) | East(e) | South(e) | West(e) | Other(e) | Alternative Energy(e) | NRG Yield(e) | Corporate(e)(f) | Elimination | Total | |||||||||||||||||||||||||||||||||
Central | ||||||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 4,760 | $ | 1,712 | $ | 2,432 | $ | 656 | $ | 347 | $ | 110 | $ | 177 | $ | 227 | $ | 9 | $ | (1,930 | ) | $ | 8,500 | |||||||||||||||||||||
Depreciation and amortization | 105 | 340 | 236 | 73 | 37 | 3 | 78 | 35 | 14 | — | 921 | |||||||||||||||||||||||||||||||||
Equity in (losses)/earnings of unconsolidated affiliates | — | — | — | 3 | (8 | ) | 2 | (7 | ) | 18 | — | (2 | ) | 6 | ||||||||||||||||||||||||||||||
Income/(loss) before income taxes | 231 | 14 | 238 | 17 | 62 | 3 | (48 | ) | 90 | (695 | ) | (6 | ) | (94 | ) | |||||||||||||||||||||||||||||
Net income/(loss) attributable to NRG Energy, Inc. | $ | 231 | $ | 14 | $ | 238 | $ | 17 | $ | 62 | $ | 2 | $ | (75 | ) | $ | 76 | $ | (642 | ) | $ | 3 | $ | (74 | ) | |||||||||||||||||||
(e) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 4 | $ | 1,732 | $ | 99 | $ | 16 | $ | 3 | $ | 48 | $ | 19 | — | $ | 9 | |||||||||||||||||||||||||||
(f) Includes loss on debt extinguishment of $50 million. | ||||||||||||||||||||||||||||||||||||||||||||
(In millions) | Conventional Power Generation | |||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | Retail(g) | Texas(g) | East(g) | South(g) | West | Other(g) | Alternative Energy(g) | NRG Yield(g) | Corporate(g)(h) | Elimination | Total | |||||||||||||||||||||||||||||||||
Central | ||||||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 4,492 | $ | 1,462 | $ | 598 | $ | 653 | $ | 185 | $ | 152 | $ | 91 | $ | 133 | $ | 11 | $ | (1,418 | ) | $ | 6,359 | |||||||||||||||||||||
Depreciation and amortization | 126 | 343 | 96 | 69 | 8 | 1 | 34 | 18 | 8 | — | 703 | |||||||||||||||||||||||||||||||||
Equity in earnings/(losses) of unconsolidated affiliates | — | — | — | — | 6 | 8 | (3 | ) | 15 | — | $ | — | $ | 26 | ||||||||||||||||||||||||||||||
Income/(loss) before income taxes | 504 | (202 | ) | (31 | ) | — | 42 | 22 | (27 | ) | 18 | (511 | ) | — | (185 | ) | ||||||||||||||||||||||||||||
Net income/(loss) attributable to NRG Energy, Inc. | $ | 504 | $ | (202 | ) | $ | (31 | ) | $ | — | $ | 42 | $ | 18 | $ | (45 | ) | $ | 8 | $ | (251 | ) | $ | — | $ | 43 | ||||||||||||||||||
(g) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 3 | $ | 1,287 | $ | 51 | $ | — | $ | — | $ | 55 | $ | 18 | $ | — | $ | 4 | ||||||||||||||||||||||||||
(h) Includes loss on debt extinguishment of $41 million. |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||||||||
The income tax provision consisted of the following: | |||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
(In millions except otherwise noted) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Income/(loss) before income taxes | $ | 306 | $ | (105 | ) | (94 | ) | $ | (185 | ) | |||||
Income tax expense/(benefit) | 163 | (113 | ) | (47 | ) | (246 | ) | ||||||||
Effective tax rate | 53.3 | % | 107.6 | % | 50 | % | 133 | % |
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Condensed Consolidating Financial Information Disclosure [Abstract] | ' | |||||||||||||||||||
Condensed Consolidating Statements of Operations | ' | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating Revenues | ||||||||||||||||||||
Total operating revenues | $ | 2,464 | $ | 1,019 | $ | — | $ | 7 | $ | 3,490 | ||||||||||
Operating Costs and Expenses | ||||||||||||||||||||
Cost of operations | 1,792 | 566 | (6 | ) | 3 | 2,355 | ||||||||||||||
Depreciation and amortization | 213 | 102 | 3 | — | 318 | |||||||||||||||
Selling, general and administrative | 116 | 70 | 39 | 4 | 229 | |||||||||||||||
Acquisition-related transaction and integration costs | — | 13 | 13 | — | 26 | |||||||||||||||
Development activity expenses | — | 14 | 13 | — | 27 | |||||||||||||||
Total operating costs and expenses | 2,121 | 765 | 62 | 7 | 2,955 | |||||||||||||||
Operating Income/(Loss) | 343 | 254 | (62 | ) | — | 535 | ||||||||||||||
Other Income/(Expense) | ||||||||||||||||||||
Equity in (loss)/earnings of consolidated subsidiaries | (25 | ) | (5 | ) | 309 | (279 | ) | — | ||||||||||||
Equity in (loss)/earnings of unconsolidated affiliates | (10 | ) | 10 | — | (5 | ) | (5 | ) | ||||||||||||
Other income, net | 5 | 3 | 1 | (4 | ) | 5 | ||||||||||||||
Loss on debt extinguishment | — | (1 | ) | — | — | (1 | ) | |||||||||||||
Interest expense | (3 | ) | (88 | ) | (137 | ) | — | (228 | ) | |||||||||||
Total other (expense)/income | (33 | ) | (81 | ) | 173 | (288 | ) | (229 | ) | |||||||||||
Income Before Income Taxes | 310 | 173 | 111 | (288 | ) | 306 | ||||||||||||||
Income tax expense/(benefit) | 126 | 59 | (22 | ) | — | 163 | ||||||||||||||
Net Income | 184 | 114 | 133 | (288 | ) | 143 | ||||||||||||||
Less: Net income attributable to noncontrolling interest | — | 32 | 9 | (22 | ) | 19 | ||||||||||||||
Net Income attributable to | $ | 184 | $ | 82 | $ | 124 | $ | (266 | ) | $ | 124 | |||||||||
NRG Energy, Inc. | ||||||||||||||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating Revenues | ||||||||||||||||||||
Total operating revenues | $ | 6,225 | $ | 2,394 | $ | — | $ | (119 | ) | $ | 8,500 | |||||||||
Operating Costs and Expenses | ||||||||||||||||||||
Cost of operations | 4,697 | 1,593 | 1 | (112 | ) | 6,179 | ||||||||||||||
Depreciation and amortization | 624 | 288 | 9 | — | 921 | |||||||||||||||
Selling, general and administrative | 341 | 173 | 164 | (7 | ) | 671 | ||||||||||||||
Acquisition-related transaction and integration costs | — | 54 | 41 | — | 95 | |||||||||||||||
Development activity expenses | — | 24 | 39 | — | 63 | |||||||||||||||
Total operating costs and expenses | 5,662 | 2,132 | 254 | (119 | ) | 7,929 | ||||||||||||||
Operating Income/(Loss) | 563 | 262 | (254 | ) | — | 571 | ||||||||||||||
Other Income/(Expense) | ||||||||||||||||||||
Equity in (loss)/earnings of consolidated subsidiaries | (4 | ) | (9 | ) | 363 | (350 | ) | — | ||||||||||||
Equity in (loss)/earnings of unconsolidated affiliates | (8 | ) | 16 | — | (2 | ) | 6 | |||||||||||||
Other income, net | 7 | 5 | 3 | (6 | ) | 9 | ||||||||||||||
Loss on debt extinguishment | — | (12 | ) | (38 | ) | — | (50 | ) | ||||||||||||
Interest expense | (13 | ) | (229 | ) | (388 | ) | — | (630 | ) | |||||||||||
Total other expense | (18 | ) | (229 | ) | (60 | ) | (358 | ) | (665 | ) | ||||||||||
Income/(Loss) Before Income Taxes | 545 | 33 | (314 | ) | (358 | ) | (94 | ) | ||||||||||||
Income tax expense/(benefit) | 212 | (10 | ) | (249 | ) | — | (47 | ) | ||||||||||||
Net Income/(Loss) | 333 | 43 | (65 | ) | (358 | ) | (47 | ) | ||||||||||||
Less: Net income attributable to noncontrolling interest | — | 40 | 9 | (22 | ) | 27 | ||||||||||||||
Net Income/(Loss) attributable to | $ | 333 | $ | 3 | $ | (74 | ) | $ | (336 | ) | $ | (74 | ) | |||||||
NRG Energy, Inc. | ||||||||||||||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating Revenues | ||||||||||||||||||||
Total operating revenues | $ | 2,237 | $ | 120 | $ | — | $ | (26 | ) | $ | 2,331 | |||||||||
Operating Costs and Expenses | ||||||||||||||||||||
Cost of operations | 1,715 | 47 | 1 | (23 | ) | 1,740 | ||||||||||||||
Depreciation and amortization | 217 | 20 | 2 | — | 239 | |||||||||||||||
Selling, general and administrative | 154 | — | 73 | (3 | ) | 224 | ||||||||||||||
Acquisition-related transaction and integration costs | — | — | 18 | — | 18 | |||||||||||||||
Development activity expenses | — | 14 | 10 | — | 24 | |||||||||||||||
Total operating costs and expenses | 2,086 | 81 | 104 | (26 | ) | 2,245 | ||||||||||||||
Operating Income/(Loss) | 151 | 39 | (104 | ) | — | 86 | ||||||||||||||
Other Income/(Expense) | ||||||||||||||||||||
Equity in (losses)/earnings of consolidated subsidiaries | (10 | ) | 1 | 121 | (112 | ) | — | |||||||||||||
Equity in earnings of unconsolidated affiliates | 4 | — | — | — | 4 | |||||||||||||||
Other income, net | — | 2 | 7 | — | 9 | |||||||||||||||
Loss on debt extinguishment | — | — | (41 | ) | — | (41 | ) | |||||||||||||
Interest expense | (5 | ) | (21 | ) | (137 | ) | — | (163 | ) | |||||||||||
Total other expense | (11 | ) | (18 | ) | (50 | ) | (112 | ) | (191 | ) | ||||||||||
Income/(Loss) Before Income Taxes | 140 | 21 | (154 | ) | (112 | ) | (105 | ) | ||||||||||||
Income tax expense/(benefit) | 67 | (27 | ) | (153 | ) | — | (113 | ) | ||||||||||||
Net Income/(Loss) | 73 | 48 | (1 | ) | (112 | ) | 8 | |||||||||||||
Less: Net income attributable to noncontrolling interest | — | 9 | — | — | 9 | |||||||||||||||
Net Income/(Loss) attributable to NRG Energy, Inc. | $ | 73 | $ | 39 | $ | (1 | ) | $ | (112 | ) | $ | (1 | ) | |||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating Revenues | ||||||||||||||||||||
Total operating revenues | $ | 6,058 | $ | 353 | $ | — | $ | (52 | ) | $ | 6,359 | |||||||||
Operating Costs and Expenses | ||||||||||||||||||||
Cost of operations | 4,512 | 186 | 7 | (45 | ) | 4,660 | ||||||||||||||
Depreciation and amortization | 647 | 48 | 8 | — | 703 | |||||||||||||||
Selling, general and administrative | 387 | 6 | 227 | (7 | ) | 613 | ||||||||||||||
Acquisition-related transaction and integration costs | — | — | 18 | — | 18 | |||||||||||||||
Development activity expenses | — | 22 | 30 | — | 52 | |||||||||||||||
Total operating costs and expenses | 5,546 | 262 | 290 | (52 | ) | 6,046 | ||||||||||||||
Operating Income/(Loss) | 512 | 91 | (290 | ) | — | 313 | ||||||||||||||
Other Income/(Expense) | ||||||||||||||||||||
Equity in earnings/(losses) of consolidated subsidiaries | 6 | (11 | ) | 463 | (458 | ) | — | |||||||||||||
Equity in earnings of unconsolidated affiliates | 6 | 20 | — | — | 26 | |||||||||||||||
Other income, net | — | 4 | 8 | — | 12 | |||||||||||||||
Loss on debt extinguishment | — | — | (41 | ) | — | (41 | ) | |||||||||||||
Interest expense | (21 | ) | (60 | ) | (414 | ) | — | (495 | ) | |||||||||||
Total other (expense)/income | (9 | ) | (47 | ) | 16 | (458 | ) | (498 | ) | |||||||||||
Income/(Loss) Before Income Taxes | 503 | 44 | (274 | ) | (458 | ) | (185 | ) | ||||||||||||
Income tax expense/(benefit) | 193 | (122 | ) | (317 | ) | — | (246 | ) | ||||||||||||
Net Income | 310 | 166 | 43 | (458 | ) | 61 | ||||||||||||||
Less: Net income attributable to noncontrolling interest | — | 18 | — | — | 18 | |||||||||||||||
Net Income attributable to NRG Energy, Inc. | $ | 310 | $ | 148 | $ | 43 | $ | (458 | ) | $ | 43 | |||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income/(Loss) | ' | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME | ||||||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Net Income | $ | 184 | $ | 114 | $ | 133 | $ | (288 | ) | $ | 143 | |||||||||
Other comprehensive (loss)/income, net of tax | ||||||||||||||||||||
Unrealized (loss)/gain on derivatives, net | (13 | ) | (8 | ) | 17 | (12 | ) | (16 | ) | |||||||||||
Foreign currency translation adjustments, net | — | 4 | 1 | — | 5 | |||||||||||||||
Other comprehensive (loss)/income | (13 | ) | (4 | ) | 18 | (12 | ) | (11 | ) | |||||||||||
Comprehensive income | 171 | 110 | 151 | (300 | ) | 132 | ||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | 29 | 9 | (20 | ) | 18 | ||||||||||||||
Comprehensive income attributable to NRG Energy, Inc. | 171 | 81 | 142 | (280 | ) | 114 | ||||||||||||||
Dividends for preferred shares | — | — | 2 | — | 2 | |||||||||||||||
Comprehensive income available for common stockholders | $ | 171 | $ | 81 | $ | 140 | $ | (280 | ) | $ | 112 | |||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Net Income/(Loss) | $ | 333 | $ | 43 | $ | (65 | ) | $ | (358 | ) | $ | (47 | ) | |||||||
Other comprehensive (loss)/income, net of tax | ||||||||||||||||||||
Unrealized (loss)/gain on derivatives, net | (54 | ) | 41 | 9 | 12 | 8 | ||||||||||||||
Foreign currency translation adjustments, net | — | (11 | ) | (3 | ) | — | (14 | ) | ||||||||||||
Available-for-sale securities, net | — | — | 2 | — | 2 | |||||||||||||||
Defined benefit plan, net | — | 25 | — | — | 25 | |||||||||||||||
Other comprehensive (loss)/income | (54 | ) | 55 | 8 | 12 | 21 | ||||||||||||||
Comprehensive income/(loss) | 279 | 98 | (57 | ) | (346 | ) | (26 | ) | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | 39 | 9 | (22 | ) | 26 | ||||||||||||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 279 | 59 | (66 | ) | (324 | ) | (52 | ) | ||||||||||||
Dividends for preferred shares | — | — | 7 | — | 7 | |||||||||||||||
Comprehensive income/(loss) available for common stockholders | $ | 279 | $ | 59 | $ | (73 | ) | $ | (324 | ) | $ | (59 | ) | |||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Net Income/(Loss) | $ | 73 | $ | 48 | $ | (1 | ) | $ | (112 | ) | $ | 8 | ||||||||
Other comprehensive loss, net of tax | ||||||||||||||||||||
Unrealized loss on derivatives, net | (43 | ) | (14 | ) | (54 | ) | 68 | (43 | ) | |||||||||||
Foreign currency translation adjustments, net | — | — | 1 | — | 1 | |||||||||||||||
Foreign currency translation realized upon sale of Schkopau | — | (11 | ) | — | — | (11 | ) | |||||||||||||
Available-for-sale securities, net | — | — | 2 | — | 2 | |||||||||||||||
Other comprehensive loss | (43 | ) | (25 | ) | (51 | ) | 68 | (51 | ) | |||||||||||
Comprehensive income/(loss) | 30 | 23 | (52 | ) | (44 | ) | (43 | ) | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | 9 | — | — | 9 | |||||||||||||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 30 | 14 | (52 | ) | (44 | ) | (52 | ) | ||||||||||||
Dividends for preferred shares | — | — | 2 | — | 2 | |||||||||||||||
Comprehensive income/(loss) available for common stockholders | $ | 30 | $ | 14 | $ | (54 | ) | $ | (44 | ) | $ | (54 | ) | |||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Net Income | $ | 310 | $ | 166 | $ | 43 | $ | (458 | ) | $ | 61 | |||||||||
Other comprehensive loss, net of tax | ||||||||||||||||||||
Unrealized loss on derivatives, net | (122 | ) | (33 | ) | (145 | ) | 168 | (132 | ) | |||||||||||
Foreign currency translation adjustments, net | — | (2 | ) | 1 | — | (1 | ) | |||||||||||||
Foreign currency translation realized upon sale of Schkopau | — | (11 | ) | — | — | (11 | ) | |||||||||||||
Available-for-sale securities, net | — | — | 2 | — | 2 | |||||||||||||||
Other comprehensive loss | (122 | ) | (46 | ) | (142 | ) | 168 | (142 | ) | |||||||||||
Comprehensive income/(loss) | 188 | 120 | (99 | ) | (290 | ) | (81 | ) | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | 18 | — | — | 18 | |||||||||||||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 188 | 102 | (99 | ) | (290 | ) | (99 | ) | ||||||||||||
Dividends for preferred shares | — | — | 7 | — | 7 | |||||||||||||||
Comprehensive income/(loss) available for common stockholders | $ | 188 | $ | 102 | $ | (106 | ) | $ | (290 | ) | $ | (106 | ) | |||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
Condensed Consolidating Balance Sheets | ' | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
ASSETS | (In millions) | |||||||||||||||||||
Current Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 23 | $ | 1,110 | $ | 996 | $ | — | $ | 2,129 | ||||||||||
Funds deposited by counterparties | — | 122 | — | — | 122 | |||||||||||||||
Restricted cash | 18 | 278 | 11 | — | 307 | |||||||||||||||
Accounts receivable, net | 1,132 | 234 | — | — | 1,366 | |||||||||||||||
Inventory | 406 | 455 | — | — | 861 | |||||||||||||||
Derivative instruments | 914 | 491 | — | (16 | ) | 1,389 | ||||||||||||||
Cash collateral paid in support of energy risk management activities | 253 | 35 | — | — | 288 | |||||||||||||||
Renewable energy grant receivable | — | 344 | 1 | — | 345 | |||||||||||||||
Prepayments and other current assets | 4,103 | 283 | (3,414 | ) | (530 | ) | 442 | |||||||||||||
Total current assets | 6,849 | 3,352 | (2,406 | ) | (546 | ) | 7,249 | |||||||||||||
Net property, plant and equipment | 9,651 | 10,822 | 149 | (22 | ) | 20,600 | ||||||||||||||
Other Assets | ||||||||||||||||||||
Investment in subsidiaries | 108 | (108 | ) | 18,218 | (18,218 | ) | — | |||||||||||||
Equity investments in affiliates | 18 | 724 | 10 | (126 | ) | 626 | ||||||||||||||
Notes receivable, less current portion | — | 66 | 255 | (245 | ) | 76 | ||||||||||||||
Goodwill | 1,941 | 12 | — | — | 1,953 | |||||||||||||||
Intangible assets, net | 988 | 172 | 33 | (52 | ) | 1,141 | ||||||||||||||
Nuclear decommissioning trust fund | 524 | — | — | — | 524 | |||||||||||||||
Deferred income tax | — | 784 | 715 | — | 1,499 | |||||||||||||||
Derivative instruments | 202 | 307 | — | (3 | ) | 506 | ||||||||||||||
Other non-current assets | 80 | 239 | 370 | — | 689 | |||||||||||||||
Total other assets | 3,861 | 2,196 | 19,601 | (18,644 | ) | 7,014 | ||||||||||||||
Total Assets | $ | 20,361 | $ | 16,370 | $ | 17,344 | $ | (19,212 | ) | $ | 34,863 | |||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||
Current portion of long-term debt and capital leases | $ | 1 | $ | 890 | $ | 20 | $ | — | $ | 911 | ||||||||||
Accounts payable | 678 | 436 | 26 | — | 1,140 | |||||||||||||||
Accounts payable — affiliate | 6 | 1,973 | (1,572 | ) | (407 | ) | — | |||||||||||||
Derivative instruments | 887 | 193 | — | (16 | ) | 1,064 | ||||||||||||||
Deferred income taxes | 369 | (264 | ) | 7 | — | 112 | ||||||||||||||
Cash collateral received in support of energy risk management activities | — | 122 | — | — | 122 | |||||||||||||||
Accrued expenses and other current liabilities | 283 | 478 | 272 | — | 1,033 | |||||||||||||||
Total current liabilities | 2,224 | 3,828 | (1,247 | ) | (423 | ) | 4,382 | |||||||||||||
Other Liabilities | ||||||||||||||||||||
Long-term debt and capital leases | 316 | 7,965 | 7,766 | (245 | ) | 15,802 | ||||||||||||||
Nuclear decommissioning reserve | 290 | — | — | — | 290 | |||||||||||||||
Nuclear decommissioning trust liability | 303 | — | — | — | 303 | |||||||||||||||
Deferred income taxes | 886 | (836 | ) | — | — | 50 | ||||||||||||||
Derivative instruments | 279 | 96 | — | (3 | ) | 372 | ||||||||||||||
Out-of-market contracts | 162 | 1,026 | — | (31 | ) | 1,157 | ||||||||||||||
Other non-current liabilities | 510 | 631 | 236 | — | 1,377 | |||||||||||||||
Total non-current liabilities | 2,746 | 8,882 | 8,002 | (279 | ) | 19,351 | ||||||||||||||
Total liabilities | 4,970 | 12,710 | 6,755 | (702 | ) | 23,733 | ||||||||||||||
3.625% convertible perpetual preferred stock | — | — | 249 | — | 249 | |||||||||||||||
Stockholders’ Equity | 15,391 | 3,660 | 10,340 | (18,510 | ) | 10,881 | ||||||||||||||
Total Liabilities and Stockholders’ Equity | $ | 20,361 | $ | 16,370 | $ | 17,344 | $ | (19,212 | ) | $ | 34,863 | |||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | ||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
ASSETS | (In millions) | |||||||||||||||||||
Current Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 78 | $ | 1,258 | $ | 751 | $ | — | $ | 2,087 | ||||||||||
Funds deposited by counterparties | 131 | 140 | — | — | 271 | |||||||||||||||
Restricted cash | 11 | 196 | 10 | — | 217 | |||||||||||||||
Accounts receivable, net | 807 | 254 | — | — | 1,061 | |||||||||||||||
Inventory | 472 | 439 | — | — | 911 | |||||||||||||||
Derivative instruments | 2,058 | 604 | — | (18 | ) | 2,644 | ||||||||||||||
Deferred income taxes | (153 | ) | 10 | 199 | — | 56 | ||||||||||||||
Cash collateral paid in support of energy risk management activities | 81 | 148 | — | — | 229 | |||||||||||||||
Renewable energy grant receivable | — | 58 | — | — | 58 | |||||||||||||||
Prepayments and other current assets | 2,966 | (57 | ) | (2,518 | ) | 10 | 401 | |||||||||||||
Total current assets | 6,451 | 3,050 | (1,558 | ) | (8 | ) | 7,935 | |||||||||||||
Net Property, Plant and Equipment | 9,905 | 10,235 | 121 | (20 | ) | 20,241 | ||||||||||||||
Other Assets | ||||||||||||||||||||
Investment in subsidiaries | 244 | (102 | ) | 17,655 | (17,797 | ) | — | |||||||||||||
Equity investments in affiliates | 33 | 633 | 10 | — | 676 | |||||||||||||||
Capital leases and notes receivable, less current portion | 3 | 74 | 531 | (529 | ) | 79 | ||||||||||||||
Goodwill | 1,944 | 12 | — | — | 1,956 | |||||||||||||||
Intangible assets, net | 1,042 | 177 | 33 | (52 | ) | 1,200 | ||||||||||||||
Nuclear decommissioning trust fund | 473 | — | — | — | 473 | |||||||||||||||
Deferred income taxes | (915 | ) | 1,829 | 368 | — | 1,282 | ||||||||||||||
Derivative instruments | 149 | 515 | — | (2 | ) | 662 | ||||||||||||||
Other non-current assets | 85 | 305 | 210 | — | 600 | |||||||||||||||
Total other assets | 3,058 | 3,443 | 18,807 | (18,380 | ) | 6,928 | ||||||||||||||
Total Assets | $ | 19,414 | $ | 16,728 | $ | 17,370 | $ | (18,408 | ) | $ | 35,104 | |||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||
Current portion of long-term debt and capital leases | $ | 1 | $ | 137 | $ | 15 | $ | (6 | ) | $ | 147 | |||||||||
Accounts payable | 541 | 584 | 46 | — | 1,171 | |||||||||||||||
Accounts payable — affiliate | (55 | ) | 1,421 | (1,366 | ) | — | — | |||||||||||||
Derivative instruments | 1,726 | 271 | 2 | (18 | ) | 1,981 | ||||||||||||||
Cash collateral received in support of energy risk management activities | 131 | 140 | — | — | 271 | |||||||||||||||
Accrued expenses and other current liabilities | 354 | 488 | 243 | — | 1,085 | |||||||||||||||
Total current liabilities | 2,698 | 3,041 | (1,060 | ) | (24 | ) | 4,655 | |||||||||||||
Other Liabilities | ||||||||||||||||||||
Long-term debt and capital leases | 310 | 8,459 | 7,496 | (529 | ) | 15,736 | ||||||||||||||
Nuclear decommissioning reserve | 354 | — | — | — | 354 | |||||||||||||||
Nuclear decommissioning trust liability | 273 | — | — | — | 273 | |||||||||||||||
Deferred income taxes | — | 55 | — | — | 55 | |||||||||||||||
Derivative instruments | 312 | 190 | — | (2 | ) | 500 | ||||||||||||||
Out-of-market contracts | 180 | 1,082 | — | (31 | ) | 1,231 | ||||||||||||||
Other non-current liabilities | 618 | 800 | 135 | — | 1,553 | |||||||||||||||
Total non-current liabilities | 2,047 | 10,586 | 7,631 | (562 | ) | 19,702 | ||||||||||||||
Total liabilities | 4,745 | 13,627 | 6,571 | (586 | ) | 24,357 | ||||||||||||||
3.625% Preferred Stock | — | — | 249 | — | 249 | |||||||||||||||
Stockholders’ Equity | 14,669 | 3,101 | 10,550 | (17,822 | ) | 10,498 | ||||||||||||||
Total Liabilities and Stockholders’ Equity | $ | 19,414 | $ | 16,728 | $ | 17,370 | $ | (18,408 | ) | $ | 35,104 | |||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ' | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Cash Flows from Operating Activities | ||||||||||||||||||||
Net Cash Provided/(Used) by Operating Activities | 1,334 | 135 | (1,800 | ) | 1,154 | 823 | ||||||||||||||
Cash Flows from Investing Activities | ||||||||||||||||||||
Intercompany loans to subsidiaries | (1,158 | ) | 4 | 1,154 | — | — | ||||||||||||||
Acquisition of businesses, net of cash acquired | — | (59 | ) | (315 | ) | — | (374 | ) | ||||||||||||
Capital expenditures | (154 | ) | (1,388 | ) | (39 | ) | — | (1,581 | ) | |||||||||||
(Increase)/decrease in restricted cash, net | (7 | ) | (61 | ) | 1 | — | (67 | ) | ||||||||||||
Increase in restricted cash — U.S. DOE projects | — | (18 | ) | (2 | ) | — | (20 | ) | ||||||||||||
Decrease/(increase) in notes receivable | 2 | (16 | ) | (8 | ) | — | (22 | ) | ||||||||||||
Investments in nuclear decommissioning trust fund securities | (369 | ) | — | — | — | (369 | ) | |||||||||||||
Proceeds from sales of nuclear decommissioning trust fund securities | 344 | — | — | — | 344 | |||||||||||||||
Proceeds from renewable energy grants | — | 52 | — | — | 52 | |||||||||||||||
Proceeds from sale of assets, net of cash disposed of | 13 | — | — | — | 13 | |||||||||||||||
Other | 7 | (1 | ) | (13 | ) | — | (7 | ) | ||||||||||||
Net Cash (Used)/Provided by Investing Activities | (1,322 | ) | (1,487 | ) | 778 | — | (2,031 | ) | ||||||||||||
Cash Flows from Financing Activities | ||||||||||||||||||||
Proceeds from intercompany loans | — | — | 1,154 | (1,154 | ) | — | ||||||||||||||
Payment of dividends to common and preferred stockholders | — | — | (113 | ) | — | (113 | ) | |||||||||||||
Payment for treasury stock | — | — | (25 | ) | — | (25 | ) | |||||||||||||
Net (payments for)/receipts from settlement of acquired derivatives that include financing elements | (67 | ) | 244 | — | — | 177 | ||||||||||||||
Contributions from noncontrolling interest in subsidiaries | — | 504 | — | — | 504 | |||||||||||||||
Proceeds from issuance of long-term debt | — | 1,120 | 485 | — | 1,605 | |||||||||||||||
Proceeds from issuance of common stock | — | — | 14 | — | 14 | |||||||||||||||
Payment of debt issuance and hedging costs | — | (9 | ) | (34 | ) | — | (43 | ) | ||||||||||||
Payments for short and long-term debt | — | (654 | ) | (214 | ) | — | (868 | ) | ||||||||||||
Net Cash (Used)/Provided by Financing Activities | (67 | ) | 1,205 | 1,267 | (1,154 | ) | 1,251 | |||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | (1 | ) | — | — | (1 | ) | |||||||||||||
Net (Decrease)/Increase in Cash and Cash Equivalents | (55 | ) | (148 | ) | 245 | — | 42 | |||||||||||||
Cash and Cash Equivalents at Beginning of Period | 78 | 1,258 | 751 | — | 2,087 | |||||||||||||||
Cash and Cash Equivalents at End of Period | $ | 23 | $ | 1,110 | $ | 996 | $ | — | $ | 2,129 | ||||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||||||||
NRG ENERGY, INC. AND SUBSIDIARIES | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Guarantor Subsidiaries | Non-Guarantor Subsidiaries | NRG Energy, Inc. | Eliminations(a) | Consolidated Balance | ||||||||||||||||
(Note Issuer) | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Cash Flows from Operating Activities | ||||||||||||||||||||
Net Cash Provided/(Used) by Operating Activities | 1,942 | 177 | (883 | ) | (178 | ) | 1,058 | |||||||||||||
Cash Flows from Investing Activities | ||||||||||||||||||||
Intercompany loans to subsidiaries | (1,686 | ) | 416 | — | 1,270 | — | ||||||||||||||
Acquisition of businesses, net of cash acquired | — | (17 | ) | (23 | ) | — | (40 | ) | ||||||||||||
Capital expenditures | (183 | ) | (2,241 | ) | (50 | ) | — | (2,474 | ) | |||||||||||
Increase in restricted cash, net | (2 | ) | (94 | ) | — | — | (96 | ) | ||||||||||||
Decrease in restricted cash — U.S. DOE projects | — | 113 | 38 | — | 151 | |||||||||||||||
Increase in notes receivable | — | (20 | ) | (2 | ) | — | (22 | ) | ||||||||||||
Investments in nuclear decommissioning trust fund securities | (341 | ) | — | — | — | (341 | ) | |||||||||||||
Proceeds from sales of nuclear decommissioning trust fund securities | 316 | — | — | — | 316 | |||||||||||||||
Proceeds from renewable energy grants | 3 | 46 | — | — | 49 | |||||||||||||||
Proceeds from sale of assets | 133 | — | 4 | — | 137 | |||||||||||||||
Other | 13 | (8 | ) | (14 | ) | — | (9 | ) | ||||||||||||
Net Cash Used by Investing Activities | (1,747 | ) | (1,805 | ) | (47 | ) | 1,270 | (2,329 | ) | |||||||||||
Cash Flows from Financing Activities | ||||||||||||||||||||
Proceeds from intercompany loans | — | — | 1,270 | (1,270 | ) | — | ||||||||||||||
Payment of dividends to preferred stockholders | (172 | ) | (6 | ) | — | 178 | — | |||||||||||||
Payment of intercompany dividends | — | — | (28 | ) | — | (28 | ) | |||||||||||||
Net payment for settlement of acquired derivatives that include financing elements | (65 | ) | — | — | — | (65 | ) | |||||||||||||
Proceeds from issuance of long-term debt | 9 | 1,526 | 1,006 | — | 2,541 | |||||||||||||||
Sale proceeds and other contributions from noncontrolling interest in subsidiaries | — | 316 | — | — | 316 | |||||||||||||||
Payment of debt issuance costs | — | (16 | ) | (14 | ) | — | (30 | ) | ||||||||||||
Payments for short and long-term debt | — | (51 | ) | (904 | ) | — | (955 | ) | ||||||||||||
Net Cash (Used)/Provided by Financing Activities | (228 | ) | 1,769 | 1,330 | (1,092 | ) | 1,779 | |||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | (3 | ) | — | — | (3 | ) | |||||||||||||
Net (Decrease)/Increase in Cash and Cash Equivalents | (33 | ) | 138 | 400 | — | 505 | ||||||||||||||
Cash and Cash Equivalents at Beginning of Period | 44 | 85 | 976 | — | 1,105 | |||||||||||||||
Cash and Cash Equivalents at End of Period | $ | 11 | $ | 223 | $ | 1,376 | $ | — | $ | 1,610 | ||||||||||
(a) | All significant intercompany transactions have been eliminated in consolidation. |
Basis_of_Presentation_Basis_of1
Basis of Presentation Basis of Presentation (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Jul. 22, 2013 | Sep. 30, 2013 | Jul. 22, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 22, 2013 | Sep. 30, 2013 | Jul. 22, 2013 | Jul. 22, 2013 |
In Millions, except Share data, unless otherwise specified | NRG | NRG Yield LLC | Class A Common Stock | Coal and dual-fired Facilites | Utility-scale Solar and Wind Facilities | Distributed Solar | Thermal | NRG | NRG | NRG Yield LLC | Public Shareholders | ||
portfolio | NRG Yield Inc. | NRG Yield LLC | NRG Yield Inc. | NRG Yield LLC | NRG Yield LLC | NRG Yield Inc. | Class B Common Stock | NRG | NRG Yield Inc. | ||||
facility | facility | MW | MW | NRG Yield Inc. | |||||||||
Basis of Presentation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Number of Shares, Issued in Transaction | ' | ' | ' | ' | 22,511,250 | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share | ' | ' | ' | ' | $22 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance Initial Public Offering | ' | ' | ' | ' | $468 | ' | ' | ' | ' | ' | ' | ' | ' |
Administrative Fees, Amount Paid | ' | ' | ' | ' | $27 | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Outstanding | 323,327,568 | 322,606,898 | ' | ' | ' | ' | ' | ' | ' | ' | 42,738,250 | ' | ' |
Sale of Stock, Percentage of Ownership after Transaction | ' | ' | 65.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of stock, Percentage of Ownership Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34.50% | ' |
Number of Facilities | ' | ' | ' | ' | ' | 3 | 8 | ' | ' | ' | ' | ' | ' |
Number of Portfolios of Distributed Solar Facilites | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Generation Capacity (in MW) | ' | ' | ' | ' | ' | ' | ' | 1,324 | 123 | ' | ' | ' | ' |
Steam and Chilled Water Capacity (in MWt) | ' | ' | ' | ' | ' | ' | ' | ' | 1,098 | ' | ' | ' | ' |
Common Stock, Voting Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.50% | ' | ' | 34.50% |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Noncontrolling Interest [Abstract] | ' | ' | ' | ' |
Noncontrolling interest | ' | ' | $518 | ' |
Contributions from noncontrolling interest | ' | ' | 289 | ' |
Comprehensive income attributable to noncontrolling interest | 18 | 9 | 26 | 18 |
Noncontrolling interest | 833 | ' | 833 | ' |
Other Cash Flow Information Disclosure [Abstract] | ' | ' | ' | ' |
Gain (Loss) on Sale of Interest in Projects | ' | ' | 221 | ' |
Capital expenditures accrued and unpaid | $127 | ' | ' | ' |
Business_Acquisitions_and_Disp2
Business Acquisitions and Dispositions (Details) | 0 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 9 Months Ended | 0 Months Ended | |||||||||||
Jul. 19, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jul. 17, 2012 | Jan. 18, 2012 | Jan. 18, 2012 | Jul. 17, 2012 | Jul. 17, 2012 | Jul. 17, 2012 | Oct. 18, 2013 | Aug. 07, 2013 | Feb. 14, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 14, 2012 | Jul. 17, 2012 | Oct. 18, 2013 | Oct. 18, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | NRG Solar AC Holdings LLC | Sale of Interest in Agua Caliente | Kraftwerke Schkopau | Kraftwerke Schkopau Betriebsgesllshaft mbH | Schkopau | Edison Mission Energy | Gregory | GenOn Energy | GenOn Energy | GenOn Energy | GenOn Energy | Foreign Currency Swap | Subsequent Event | Subsequent Event | |
MW | USD ($) | MW | MW | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | Edison Mission Energy | Common Stock | |||||||
MW | MW | USD ($) | Edison Mission Energy | |||||||||||||||
USD ($) | ||||||||||||||||||
Business Acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Generation Capacity (in MW) | ' | ' | ' | ' | ' | ' | ' | ' | 900 | 8,000 | 388 | ' | ' | ' | 21,440 | ' | ' | ' |
Payments to Acquire Business, Estimated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,600,000,000 | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 93,900,000 | ' | ' | ' | ' | ' | 12,671,977 |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,000,000 | ' | ' | ' | 983,000,000 | ' | 1,100,000,000 | ' |
Business Combination, Estimated Consideration Transferred, Estimated Liabilities Incurred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000,000 | ' |
Business Acquisition, Purchase Price Allocation, Noncurrent Liabilities, Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,203,000,000 | ' | 1,500,000,000 | ' |
Environmental Capital Expenditures, Estimated | ' | 530,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | ' |
Payments to Acquire Business, Fee Contingently Receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65,000,000 | ' |
Payments to Acquire Businesses, Net of Cash Acquired | ' | 374,000,000 | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | 245,000,000 | ' | ' | ' | ' | ' | ' | ' |
Steam Capacity (in MWt) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 160 | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Equity Interests Issued and Issuable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,188,000,000 | ' | ' | ' | ' | ' | ' |
BusinessAcquisitionEquityInterestIssuedOrIssuableExchangeRatio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.16% | ' | ' | ' |
Business Acquisition, Purchase Price, Percentage of Outstanding Common Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29.00% | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Other Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,385,000,000 | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Other Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -18,000,000 | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Other Assets, Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,367,000,000 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,936,000,000 | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -27,000,000 | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment, Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,909,000,000 | ' | ' | ' |
Business Acquisition Purchase Price Allocation, Derivative Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,157,000,000 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Deferred Taxes Asset (Liability), Net, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,265,000,000 | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Deferred Taxes Asset (Liability), Net, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,000,000 | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Deferred Taxes Asset (Liability), Net, Noncurrent, Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,286,000,000 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Assets Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,726,000,000 | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -24,000,000 | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Assets Acquired, Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,702,000,000 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Other Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,312,000,000 | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Current and Noncurrent Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,000,000 | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Other Liabilities, Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,305,000,000 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Out of Market Contracts and Leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,064,000,000 | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Out of Market Contracts and Leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Out of Market Contracts and Leases, Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,079,000,000 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Derivative Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 399,000,000 | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Noncurrent Liabilities Longterm Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Noncurrent Liabilities, Long-term Debt, Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,206,000,000 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Liabilities Assumed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,978,000,000 | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Liabilities Assumed, Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,989,000,000 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,748,000,000 | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Net Assets Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -35,000,000 | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,713,000,000 | ' | ' | ' |
Business Combination, Bargain Purchase, Gain Recognized, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 560,000,000 | ' | ' | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Bargain Purchase, Gain Recognized, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -35,000,000 | ' | ' | ' | ' |
Business Combination, Bargain Purchase, Gain Recognized, Amount, Adjusted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 525,000,000 | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | ' | 49.00% | 49.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Sale of Interest by Parent | ' | ' | ' | ' | ' | 122,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Owned, Percent of Net Assets | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | 41.90% | 44.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Power Generation, Participation (in MW) | ' | ' | ' | 400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Curreny Swap Contract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 141,000,000 | ' | ' |
Long Lived Assets Held-for-sale, Proceeds from Sale | 174,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets Held-for-sale, Long Lived | ' | ' | ' | $38,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ||
Long-term debt, including current portion | $16,699 | $15,866 | ||
Carrying Amount | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ||
Notes receivable | 107 | [1] | 88 | [1] |
Long-term debt, including current portion | 16,699 | 15,866 | ||
Fair Value | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ||
Notes receivable | 107 | [1] | 88 | [1] |
Long-term debt, including current portion | $17,061 | $16,492 | ||
[1] | Includes the current portion of notes receivable which is recorded in prepayments and other current assets on the Company's consolidated balance sheets |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | $1,895 | $3,306 | ||
Derivative liabilities | 1,436 | 2,481 | ||
Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 1,884 | 3,303 | ||
Derivative liabilities | 1,354 | 2,338 | ||
Interest rate contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 11 | 3 | ||
Derivative liabilities | 82 | 143 | ||
Fair Value, Measurements, Recurring | Level 1 | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Debt securities | 0 | 0 | ||
Other | 37 | [1] | 44 | [1] |
Total assets | 807 | 1,778 | ||
Total liabilities | 344 | 1,144 | ||
Fair Value, Measurements, Recurring | Level 1 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 436 | 1,457 | ||
Derivative liabilities | 344 | 1,144 | ||
Fair Value, Measurements, Recurring | Level 1 | Interest rate contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Cash and cash equivalents | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 2 | 10 | ||
Fair Value, Measurements, Recurring | Level 1 | U.S. government and federal agency obligations | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 51 | 34 | ||
Fair Value, Measurements, Recurring | Level 1 | Federal agency mortgage-backed securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Commercial mortgage-backed securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Corporate debt securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Equity securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 281 | 233 | ||
Fair Value, Measurements, Recurring | Level 1 | Foreign government fixed income securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Debt securities | 0 | 0 | ||
Other | 0 | [1] | 0 | [1] |
Total assets | 1,484 | 1,864 | ||
Total liabilities | 974 | 1,190 | ||
Fair Value, Measurements, Recurring | Level 2 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 1,337 | 1,711 | ||
Derivative liabilities | 892 | 1,047 | ||
Fair Value, Measurements, Recurring | Level 2 | Interest rate contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 11 | 3 | ||
Derivative liabilities | 82 | 143 | ||
Fair Value, Measurements, Recurring | Level 2 | Cash and cash equivalents | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | U.S. government and federal agency obligations | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 4 | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | Federal agency mortgage-backed securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 58 | 59 | ||
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 12 | 9 | ||
Fair Value, Measurements, Recurring | Level 2 | Corporate debt securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 60 | 80 | ||
Fair Value, Measurements, Recurring | Level 2 | Equity securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | Foreign government fixed income securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 2 | 2 | ||
Fair Value, Measurements, Recurring | Level 3 | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Debt securities | 15 | 12 | ||
Other | 0 | [1] | 0 | [1] |
Total assets | 181 | 194 | ||
Total liabilities | 118 | 147 | ||
Fair Value, Measurements, Recurring | Level 3 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 111 | 135 | ||
Derivative liabilities | 118 | 147 | ||
Fair Value, Measurements, Recurring | Level 3 | Interest rate contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Cash and cash equivalents | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | U.S. government and federal agency obligations | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Federal agency mortgage-backed securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Corporate debt securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Equity securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 55 | 47 | ||
Fair Value, Measurements, Recurring | Level 3 | Foreign government fixed income securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 0 | 0 | ||
Fair Value, Measurements, Recurring | Fair Value | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Debt securities | 15 | 12 | ||
Other | 37 | [1] | 44 | [1] |
Total assets | 2,472 | 3,836 | ||
Total liabilities | 1,436 | 2,481 | ||
Fair Value, Measurements, Recurring | Fair Value | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 1,884 | 3,303 | ||
Derivative liabilities | 1,354 | 2,338 | ||
Fair Value, Measurements, Recurring | Fair Value | Interest rate contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Derivative Assets | 11 | 3 | ||
Derivative liabilities | 82 | 143 | ||
Fair Value, Measurements, Recurring | Fair Value | Cash and cash equivalents | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 2 | 10 | ||
Fair Value, Measurements, Recurring | Fair Value | U.S. government and federal agency obligations | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 55 | 34 | ||
Fair Value, Measurements, Recurring | Fair Value | Federal agency mortgage-backed securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 58 | 59 | ||
Fair Value, Measurements, Recurring | Fair Value | Commercial mortgage-backed securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 12 | 9 | ||
Fair Value, Measurements, Recurring | Fair Value | Corporate debt securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 60 | 80 | ||
Fair Value, Measurements, Recurring | Fair Value | Equity securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | 336 | 280 | ||
Fair Value, Measurements, Recurring | Fair Value | Foreign government fixed income securities | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring Basis | ' | ' | ||
Trust fund investments | $2 | $2 | ||
[1] | Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |||||
Fair Value Asset and Liabilities, Measured on Recurring Basis Unobservable Input, Changes | ' | ' | ' | ' | ||||
No transfers during the three and six months ended June 30, 2013 and 2013 (Level 1 to Level 2) | $0 | $0 | $0 | $0 | ||||
No transfers during the three and six months ended June 30, 2013 and 2013 (Level 2 to Level 1) | 0 | 0 | 0 | 0 | ||||
Reconciliation of the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements | ' | ' | ' | ' | ||||
Beginning balance | 53,000,000 | 223,000,000 | 47,000,000 | 57,000,000 | ||||
Total gains/(losses) - realized/unrealized: | ' | ' | ' | ' | ||||
Included in earnings | 14,000,000 | -9,000,000 | -4,000,000 | -3,000,000 | ||||
Included in OCI | 0 | 2,000,000 | 3,000,000 | 4,000,000 | ||||
Included in nuclear decommissioning obligations | 5,000,000 | 3,000,000 | 7,000,000 | 3,000,000 | ||||
Purchases | 4,000,000 | -109,000,000 | -2,000,000 | 0 | ||||
Transfers into Level 3 | -36,000,000 | [1] | -31,000,000 | [1] | -9,000,000 | [1] | 4,000,000 | [1] |
Transfers out of Level 3 | 23,000,000 | [1] | -20,000,000 | [1] | 21,000,000 | [1] | -6,000,000 | [1] |
Ending balance | 63,000,000 | 59,000,000 | 63,000,000 | 59,000,000 | ||||
Gains/(losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of period end | -7,000,000 | -5,000,000 | -4,000,000 | 1,000,000 | ||||
Debt Securities | ' | ' | ' | ' | ||||
Reconciliation of the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements | ' | ' | ' | ' | ||||
Beginning balance | 15,000,000 | 9,000,000 | 12,000,000 | 7,000,000 | ||||
Total gains/(losses) - realized/unrealized: | ' | ' | ' | ' | ||||
Included in earnings | 0 | 0 | 0 | 0 | ||||
Included in OCI | 0 | 2,000,000 | 3,000,000 | 4,000,000 | ||||
Included in nuclear decommissioning obligations | 0 | 0 | 0 | 0 | ||||
Purchases | 0 | 0 | 0 | 0 | ||||
Transfers into Level 3 | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Transfers out of Level 3 | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Ending balance | 15,000,000 | 11,000,000 | 15,000,000 | 11,000,000 | ||||
Gains/(losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of period end | 0 | 0 | 0 | 0 | ||||
Trust Fund Investments | ' | ' | ' | ' | ||||
Reconciliation of the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements | ' | ' | ' | ' | ||||
Beginning balance | 50,000,000 | 43,000,000 | 47,000,000 | 42,000,000 | ||||
Total gains/(losses) - realized/unrealized: | ' | ' | ' | ' | ||||
Included in earnings | 0 | 0 | 0 | 0 | ||||
Included in OCI | 0 | 0 | 0 | 0 | ||||
Included in nuclear decommissioning obligations | 5,000,000 | 3,000,000 | 7,000,000 | 3,000,000 | ||||
Purchases | 0 | 0 | 1,000,000 | 1,000,000 | ||||
Transfers into Level 3 | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Transfers out of Level 3 | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Ending balance | 55,000,000 | 46,000,000 | 55,000,000 | 46,000,000 | ||||
Gains/(losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of period end | 0 | 0 | 0 | 0 | ||||
Derivatives | ' | ' | ' | ' | ||||
Reconciliation of the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements | ' | ' | ' | ' | ||||
Beginning balance | -12,000,000 | [2] | 171,000,000 | [2] | -12,000,000 | [2] | 8,000,000 | [2] |
Total gains/(losses) - realized/unrealized: | ' | ' | ' | ' | ||||
Included in earnings | 14,000,000 | [2] | -9,000,000 | [2] | -4,000,000 | [2] | -3,000,000 | [2] |
Included in OCI | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] |
Included in nuclear decommissioning obligations | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] |
Purchases | 4,000,000 | [2] | -109,000,000 | [2] | -3,000,000 | [2] | -1,000,000 | [2] |
Transfers into Level 3 | -36,000,000 | [1],[2] | -31,000,000 | [1],[2] | -9,000,000 | [1],[2] | 4,000,000 | [1],[2] |
Transfers out of Level 3 | 23,000,000 | [1],[2] | -20,000,000 | [1],[2] | 21,000,000 | [1],[2] | -6,000,000 | [1],[2] |
Ending balance | -7,000,000 | [2] | 2,000,000 | [2] | -7,000,000 | [2] | 2,000,000 | [2] |
Gains/(losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of period end | ($7,000,000) | [2] | ($5,000,000) | [2] | ($4,000,000) | [2] | $1,000,000 | [2] |
[1] | Transfers in/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. All transfers in/out are with Level 2. | |||||||
[2] | Consists of derivative assets and liabilities, net. |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments (Details 4) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | |
Concentration of Credit Risk | ' | ' | |
Total derivative assets valued with prices provied by models and other valuation techniques (as a percent) | 6.00% | ' | |
Total derivative liabilities valued with prices provied by models and other valuation techniques (as a percent) | 8.00% | ' | |
Increase in fair value as a result of the credit reserve | ($1) | $9 | |
Increase in fair value as a result of the credit reserve, portion recorded in OCI | -1 | -4 | |
Increase in fair value as a result of the credit reserve, portion recorded in operating revenue and cost of operations | 2 | -5 | |
Counterparty credit exposure to a portion of the Company's counterparties | 975 | ' | |
Collateral held (cash and letters of credit) against counterparty credit exposure to a portion of the Company's counterparties | 44 | ' | |
Net counterparty credit exposure to a portion of the Company's counterparties | 931 | ' | |
Company's exposure before collateral is expected to roll off by the end of 2014 (as a percent) | 85.00% | ' | |
Net Exposure (as a percent) | 100.00% | [1] | ' |
Counterparty credit risk exposure to certain counterparties, threshold (as a percent) | 10.00% | ' | |
Aggregate counterparty credit risk exposure for counterparties representing exposure above threshold percentage | 316 | ' | |
Estimated counterparty credit risk exposure under certain long term agreements, including California tolling agreements, South Central load obligations and solar power purchase agreements for the next 5 years | 2,300 | ' | |
Period of estimated counterparty credit risk exposure under certain long term agreements, including California tolling agreements, South Central load obligations and solar power purchase agreements (in years) | '5 years | ' | |
Investment grade | ' | ' | |
Concentration of Credit Risk | ' | ' | |
Net Exposure (as a percent) | 96.00% | [1] | ' |
Non-rated | ' | ' | |
Concentration of Credit Risk | ' | ' | |
Net Exposure (as a percent) | 4.00% | [1],[2] | ' |
Financial institutions | ' | ' | |
Concentration of Credit Risk | ' | ' | |
Net Exposure (as a percent) | 58.00% | [1] | ' |
Utilities, energy merchants, marketers and other | ' | ' | |
Concentration of Credit Risk | ' | ' | |
Net Exposure (as a percent) | 34.00% | [1] | ' |
ISOs | ' | ' | |
Concentration of Credit Risk | ' | ' | |
Net Exposure (as a percent) | 6.00% | [1] | ' |
Coal and emissions | ' | ' | |
Concentration of Credit Risk | ' | ' | |
Net Exposure (as a percent) | 2.00% | [1] | ' |
NRG Yield, Inc. | ' | ' | |
Concentration of Credit Risk | ' | ' | |
Estimated counterparty credit risk exposure under certain long term agreements, including California tolling agreements, South Central load obligations and solar power purchase agreements for the next 5 years | $649 | ' | |
[1] | Counterparty credit exposure excludes uranium and coal transportation contracts because of the unavailability of market prices. | ||
[2] | For non-rated counterparties, a significant portion are related to ISO and municipal public power entities, which are considered investment grade equivalent ratings based on NRG's internal credit ratings. |
Nuclear_Decommissioning_Trust_2
Nuclear Decommissioning Trust Fund (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||
Nuclear decommissioning trust fund disclosure | ' | ' | ' | |
Fair Value | $524,000,000 | ' | $473,000,000 | |
Unrealized Gains | 192,000,000 | ' | 151,000,000 | [1] |
Unrealized Losses | 3,000,000 | ' | 0 | |
Proceeds from sales of available-for-sale securities and the related realized gains and losses | ' | ' | ' | |
Realized gains | 10,000,000 | 8,000,000 | ' | |
Proceeds from sale of securities | 7,000,000 | 5,000,000 | ' | |
Proceeds from sale of securities | 344,000,000 | 316,000,000 | ' | |
Cash and cash equivalents | ' | ' | ' | |
Nuclear decommissioning trust fund disclosure | ' | ' | ' | |
Fair Value | 2,000,000 | ' | 10,000,000 | |
Unrealized Gains | 0 | ' | 0 | [1] |
Unrealized Losses | 0 | ' | ' | |
Weighted-average Maturities (In years) | 0 | ' | 0 | |
U.S. government and federal agency obligations | ' | ' | ' | |
Nuclear decommissioning trust fund disclosure | ' | ' | ' | |
Fair Value | 54,000,000 | ' | 33,000,000 | |
Unrealized Gains | 2,000,000 | ' | 2,000,000 | [1] |
Unrealized Losses | 1,000,000 | ' | ' | |
Weighted-average Maturities (In years) | 9 | ' | 10 | |
Federal agency mortgage-backed securities | ' | ' | ' | |
Nuclear decommissioning trust fund disclosure | ' | ' | ' | |
Fair Value | 58,000,000 | ' | 59,000,000 | |
Unrealized Gains | 1,000,000 | ' | 2,000,000 | [1] |
Unrealized Losses | 1,000,000 | ' | ' | |
Weighted-average Maturities (In years) | 24 | ' | 23 | |
Commercial mortgage-backed securities | ' | ' | ' | |
Nuclear decommissioning trust fund disclosure | ' | ' | ' | |
Fair Value | 12,000,000 | ' | 9,000,000 | |
Unrealized Gains | 0 | ' | 0 | [1] |
Unrealized Losses | 0 | ' | ' | |
Weighted-average Maturities (In years) | 29 | ' | 30 | |
Corporate debt securities | ' | ' | ' | |
Nuclear decommissioning trust fund disclosure | ' | ' | ' | |
Fair Value | 60,000,000 | ' | 80,000,000 | |
Unrealized Gains | 2,000,000 | ' | 4,000,000 | [1] |
Unrealized Losses | 1,000,000 | ' | ' | |
Weighted-average Maturities (In years) | 9 | ' | 11 | |
Equity securities | ' | ' | ' | |
Nuclear decommissioning trust fund disclosure | ' | ' | ' | |
Fair Value | 336,000,000 | ' | 280,000,000 | |
Unrealized Gains | 187,000,000 | ' | 143,000,000 | [1] |
Unrealized Losses | ' | ' | ' | |
Weighted-average Maturities (In years) | 0 | ' | 0 | |
Foreign government fixed income securities | ' | ' | ' | |
Nuclear decommissioning trust fund disclosure | ' | ' | ' | |
Fair Value | 2,000,000 | ' | 2,000,000 | |
Unrealized Gains | $0 | ' | $0 | [1] |
Weighted-average Maturities (In years) | 9 | ' | 6 | |
[1] | There were no unrealized losses as of December 31, 2012. |
Accounting_for_Derivative_Inst2
Accounting for Derivative Instruments and Hedging Activities (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | $1,895 | $3,306 |
Derivative Liabilities | 1,436 | 2,481 |
Derivatives Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 8 | 3 |
Derivative Liabilities | 77 | 129 |
Derivatives Not Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 1,887 | 3,303 |
Derivative Liabilities | 1,359 | 2,352 |
Interest rate contracts current | Derivatives Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 27 | 29 |
Interest rate contracts current | Derivatives Not Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 5 | 7 |
Interest rate contracts long-term | Derivatives Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 8 | 3 |
Derivative Liabilities | 47 | 96 |
Interest rate contracts long-term | Derivatives Not Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 3 | 0 |
Derivative Liabilities | 3 | 11 |
Commodity contracts current | Derivatives Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 2 | 3 |
Commodity contracts current | Derivatives Not Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 1,389 | 2,644 |
Derivative Liabilities | 1,030 | 1,942 |
Commodity contracts long-term | Derivatives Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 1 | 1 |
Commodity contracts long-term | Derivatives Not Designated as Cash Flow Hedges | ' | ' |
Fair Value of Derivative Instrument | ' | ' |
Derivative Assets | 495 | 659 |
Derivative Liabilities | 321 | 392 |
Short Ton | Emissions | ' | ' |
Volumetric Underlying Derivative Transactions | ' | ' |
Underlying, Derivative | -1,000,000 | -1,000,000 |
Short Ton | Coal | ' | ' |
Volumetric Underlying Derivative Transactions | ' | ' |
Underlying, Derivative | 42,000,000 | 37,000,000 |
MMbtu | Natural Gas | ' | ' |
Volumetric Underlying Derivative Transactions | ' | ' |
Underlying, Derivative | -215,000,000 | -413,000,000 |
Barrel | Oil | ' | ' |
Volumetric Underlying Derivative Transactions | ' | ' |
Underlying, Derivative | 0 | 1,000,000 |
MWh | Power | ' | ' |
Volumetric Underlying Derivative Transactions | ' | ' |
Underlying, Derivative | -16,000,000 | -14,000,000 |
Dollars | Interest | ' | ' |
Volumetric Underlying Derivative Transactions | ' | ' |
Derivative, Notional Amount | $1,520 | $2,612 |
Accounting_for_Derivative_Inst3
Accounting for Derivative Instruments and Hedging Activities (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid | ' | ' |
Gross Amount of Recognized Derivative Assets | $1,895 | $3,306 |
Cash Collateral (Held) | -122 | -271 |
Gross Amounts of Recognized Derivative Liabilities | -1,436 | -2,481 |
Cash Collateral Posted | 288 | 229 |
Gross Amounts of Recognized Assets / Liabilities | 459 | 825 |
Derivative Instruments | 0 | 0 |
Cash Collateral (Held) / Posted | -130 | -346 |
Net Amount | 329 | 479 |
Commodity contracts | ' | ' |
Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid | ' | ' |
Gross Amount of Recognized Derivative Assets | 1,884 | 3,303 |
Derivative Instruments | -1,151 | -2,024 |
Cash Collateral (Held) | -195 | -374 |
Net Amount | 538 | 905 |
Gross Amounts of Recognized Derivative Liabilities | -1,354 | -2,338 |
Derivative Instruments | 1,151 | 2,024 |
Cash Collateral Posted | 65 | 28 |
Net Amount | -138 | -286 |
Gross Amounts of Recognized Assets / Liabilities | 530 | 965 |
Derivative Instruments | 0 | 0 |
Cash Collateral (Held) / Posted | -130 | -346 |
Net Amount | 400 | 619 |
Interest rate contracts | ' | ' |
Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid | ' | ' |
Gross Amount of Recognized Derivative Assets | 11 | 3 |
Derivative Instruments | -6 | 0 |
Cash Collateral (Held) | 0 | 0 |
Net Amount | 5 | 3 |
Gross Amounts of Recognized Derivative Liabilities | -82 | -143 |
Derivative Instruments | 6 | 0 |
Cash Collateral Posted | 0 | 0 |
Net Amount | -76 | -143 |
Gross Amounts of Recognized Assets / Liabilities | -71 | -140 |
Derivative Instruments | 0 | 0 |
Cash Collateral (Held) / Posted | 0 | 0 |
Net Amount | ($71) | ($140) |
Accounting_for_Derivative_Inst4
Accounting for Derivative Instruments and Hedging Activities (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Effects of ASC 815 on NRG's Accumulated OCI Balance Attributable to Cash Flow Hedge Derivatives, net of tax | ' | ' | ' | ' |
Accumulated OCI beginning balance | ($7) | $43 | ($31) | $132 |
Net Income/(Loss) | 143 | 8 | -47 | 61 |
Mark-to-market of cash flow hedge accounting contracts | -3 | -16 | 40 | -37 |
Accumulated OCI ending balance, net of tax | -23 | 0 | -23 | 0 |
Gains/(losses) expected to be realized from OCI during the next 12 months, net of tax | 2 | 66 | 2 | 66 |
Gains/(losses) recognized in income from the ineffective portion of cash flow hedges | 1 | 0 | 0 | -51 |
Accumulated OCI ending balance, tax | 13 | 12 | 13 | 12 |
Gains/(losses) expected to be realized from OCI during the next 12 months, tax | 1 | 38 | 1 | 38 |
Unrealized mark-to-market results | ' | ' | ' | ' |
Reversal of previously recognized unrealized losses/(gains) on settled positions related to economic hedges | -48 | -85 | -80 | -160 |
Reversal of loss positions acquired as part of the acquisition | -82 | -15 | -269 | 5 |
Net unrealized gains/(losses) on open positions related to economic hedges | 76 | -159 | 131 | -78 |
Losses on ineffectiveness associated with open positions treated as cash flow hedges | 1 | 0 | 0 | -51 |
Total unrealized mark-to-market gains/(losses) for economic hedging activities | -53 | -259 | -218 | -284 |
Reversal of previously recognized unrealized (gains) losses on settled positions related to trading activity | -13 | -15 | -42 | -45 |
Reversal of Previously Unrecognized Unrealized Gain Loss Acquired as Part of Acquisition Trading Activity | -2 | 0 | -2 | 0 |
Net unrealized gains on open positions related to trading activity | 26 | -3 | 0 | 33 |
Total unrealized mark-to-market gains for trading activity | 11 | -18 | -44 | -12 |
Impact of derivative instruments on statement of operations | ' | ' | ' | ' |
Total unrealized gains/(losses) | -42 | -277 | -262 | -296 |
Credit Risk Related Contingent Features | ' | ' | ' | ' |
Collateral required for contracts with adequate assurance clauses in net liability positions | 103 | ' | 103 | ' |
Collateral required for contracts with credit rating contingent features | 39 | ' | 39 | ' |
Collateral due on net liability position that has not been called by a certain marginable agreement counterparty | 15 | ' | 15 | ' |
Commodity contracts | ' | ' | ' | ' |
Effects of ASC 815 on NRG's Accumulated OCI Balance Attributable to Cash Flow Hedge Derivatives, net of tax | ' | ' | ' | ' |
Accumulated OCI beginning balance | 24 | 111 | 41 | 188 |
Mark-to-market of cash flow hedge accounting contracts | 1 | -1 | 7 | -2 |
Accumulated OCI ending balance, net of tax | 10 | 80 | 10 | 80 |
Gains/(losses) expected to be realized from OCI during the next 12 months, net of tax | 11 | 77 | 11 | 77 |
Gains/(losses) recognized in income from the ineffective portion of cash flow hedges | 1 | 0 | 0 | -51 |
Impact of derivative instruments on statement of operations | ' | ' | ' | ' |
Total unrealized gains/(losses) | -42 | -277 | -262 | -296 |
Commodity contracts | Gains (losses) included in operating revenues | ' | ' | ' | ' |
Impact of derivative instruments on statement of operations | ' | ' | ' | ' |
Total unrealized gains/(losses) | -64 | -395 | -404 | -470 |
Commodity contracts | Gains (losses) included in cost of operations | ' | ' | ' | ' |
Impact of derivative instruments on statement of operations | ' | ' | ' | ' |
Total unrealized gains/(losses) | 22 | 118 | 142 | 174 |
Interest rate contracts | ' | ' | ' | ' |
Effects of ASC 815 on NRG's Accumulated OCI Balance Attributable to Cash Flow Hedge Derivatives, net of tax | ' | ' | ' | ' |
Accumulated OCI beginning balance | -31 | -68 | -72 | -56 |
Mark-to-market of cash flow hedge accounting contracts | -4 | -15 | 33 | -35 |
Accumulated OCI ending balance, net of tax | -33 | -80 | -33 | -80 |
Gains/(losses) expected to be realized from OCI during the next 12 months, net of tax | -9 | -11 | -9 | -11 |
Gains/(losses) recognized in income from the ineffective portion of cash flow hedges | 0 | 0 | 0 | 0 |
Impact of derivative instruments on statement of operations | ' | ' | ' | ' |
Total unrealized gains/(losses) | 4 | 0 | 10 | -12 |
CVSR | Interest rate contracts | ' | ' | ' | ' |
Discontinuation of cash flow hedges | ' | ' | ' | ' |
Loss previously deferred in OCI recognized in earnings resulting from discontinued cash flow hedge accounting | ' | ' | 5 | ' |
Alpine | Interest rate contracts | ' | ' | ' | ' |
Discontinuation of cash flow hedges | ' | ' | ' | ' |
Loss previously deferred in OCI recognized in earnings resulting from discontinued cash flow hedge accounting | ' | ' | 4 | 4 |
Reclassification out of Accumulated Other Comprehensive Income | ' | ' | ' | ' |
Effects of ASC 815 on NRG's Accumulated OCI Balance Attributable to Cash Flow Hedge Derivatives, net of tax | ' | ' | ' | ' |
Net Income/(Loss) | -13 | -27 | -32 | -95 |
Reclassification out of Accumulated Other Comprehensive Income | Commodity contracts | ' | ' | ' | ' |
Effects of ASC 815 on NRG's Accumulated OCI Balance Attributable to Cash Flow Hedge Derivatives, net of tax | ' | ' | ' | ' |
Net Income/(Loss) | -15 | -30 | -38 | -106 |
Reclassification out of Accumulated Other Comprehensive Income | Interest rate contracts | ' | ' | ' | ' |
Effects of ASC 815 on NRG's Accumulated OCI Balance Attributable to Cash Flow Hedge Derivatives, net of tax | ' | ' | ' | ' |
Net Income/(Loss) | $2 | $3 | $6 | $11 |
Debt_and_Capital_Leases_Debt_a1
Debt and Capital Leases Debt and Capital Leases (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 2 Months Ended | 2 Months Ended | 2 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Feb. 27, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Feb. 27, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 04, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 16, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Jan. 15, 2013 | Mar. 16, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 28, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 28, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 28, 2013 | Mar. 31, 2013 | Mar. 28, 2013 | Sep. 30, 2013 | Mar. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Recourse Debt | Recourse Debt | Non Recourse Debt | Non Recourse Debt | Senior Notes Repurchases | Senior Notes Repurchases | Senior notes, due 2018 | Senior notes, due 2018 | Senior notes, due 2018 | 8.500% Senior notes, due 2019 | 8.500% Senior notes, due 2019 | 8.500% Senior notes, due 2019 | Senior notes, due 2020 | Senior notes, due 2020 | Senior notes, due 2020 | 7.625% Senior notes, due 2019 | 7.625% Senior notes, due 2019 | Senior notes, due 2021 | Senior notes, due 2021 | Senior notes, due 2023 | Senior notes, due 2023 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Term loan facility, due 2018 | Indian River Power LLC, tax-exempt bonds, due 2040 and 2045 | Indian River Power LLC, tax-exempt bonds, due 2040 and 2045 | Indian River Power LLC, tax-exempt bonds, due 2040 | Indian River Power LLC, tax-exempt bonds, due 2045 | Dunkirk Power LLC, tax-exempt bonds, due 2042 | Dunkirk Power LLC, tax-exempt bonds, due 2042 | Fort Bend County, tax-exempt bonds, due 2038 and 2042 | Fort Bend County, tax-exempt bonds, due 2038 and 2042 | GenOn senior notes, due 2014 | GenOn senior notes, due 2014 | GenOn senior notes, due 2014 | GenOn senior notes, due 2014 | GenOn senior notes, due 2017 | GenOn senior notes, due 2017 | GenOn senior notes, due 2018 | GenOn senior notes, due 2018 | GenOn senior notes, due 2020 | GenOn senior notes, due 2020 | GenOn Americas Generation senior notes, due in 2021 | GenOn Americas Generation senior notes, due in 2021 | GenOn Americas Generation senior notes, due in 2031 | GenOn Americas Generation senior notes, due in 2031 | GenOn Marsh Landing term loans, due 2017 and 2023 | GenOn Marsh Landing term loans, due 2017 and 2023 | GenOn Marsh Landing term loan, due 2017 | GenOn Marsh Landing term loan, due 2017 | GenOn Marsh Landing term loan, due 2023 | GenOn Marsh Landing term loan, due 2023 | CVSR - High Plains Ranch II LLC, due 2037 | CVSR - High Plains Ranch II LLC, due 2037 | NRG West Holdings LLC, term loan, due 2023 | NRG West Holdings LLC, term loan, due 2023 | NRG West Holdings LLC, term loan, due 2023 | Agua Caliente Solar LLC, due 2037 | Agua Caliente Solar LLC, due 2037 | Ivanpah Financing, due 2014 and 2038 | Ivanpah Financing, due 2014 and 2038 | South Trent Wind LLC, financing agreement, due 2020 | South Trent Wind LLC, financing agreement, due 2020 | South Trent Wind LLC, financing agreement, due 2020 | NRG Peaker Finance Co. LLC, bonds, due 2019 | NRG Peaker Finance Co. LLC, bonds, due 2019 | NRG Peaker Finance Co. LLC, bonds, due 2019 | NRG Energy Center Minneapolis LLC, senior secured notes, due 2013, 2017, and 2025 | NRG Energy Center Minneapolis LLC, senior secured notes, due 2013, 2017, and 2025 | NRG Energy Center Minneapolis LLC Senior Secured Notes, due 2013 | NRG Energy Center Minneapolis LLC Senior Secured Notes, due 2017 | NRG Energy Center Minneapolis LLC Senior Secured Notes, due 2025 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 and 2022 | NRG Solar Alpine LLC, due 2013 | NRG Solar Alpine LLC, due 2013 | NRG Solar Alpine LLC, due 2022 | NRG Solar Alpine LLC, due 2022 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | NRG Solar Borrego LLC, due 2024 and 2038 | Borrego Financing Agreement, due 2024 | Borrego Financing Agreement, due 2024 | Borrego Financing Agreement, due 2038 | NRG Solar Avra Valley LLC | NRG Solar Avra Valley LLC | NRG Solar Avra Valley LLC | High Desert Facility | High Desert Facility | High Desert Facility | High Desert Facility | High Desert Facility | High Desert Facility | High Desert Facility | High Desert Facility | High Desert Facility | High Desert Facility | High Desert Facility | High Desert Facility, due 2013 | High Desert Facility, due 2013 | High Desert Facility, due 2023 | High Desert Facility, due 2023 | High Desert Facility, due 2033 | Kansas South Facility | Kansas South Facility | Kansas South Facility | Kansas South Facility | Kansas South Facility | Kansas South Facility | Kansas South Facility | Kansas South Facility | Kansas South Facility, due 2013 | Kansas South Facility, due 2031 | Other (Non-recourse debt) | Other (Non-recourse debt) | Chalk Point capital lease, due 2015 | Chalk Point capital lease, due 2015 | Other (Capital leases) | Other (Capital leases) | NRG Repowering Holdings LLC Credit Facility | Kansas South | TA - High Desert LLC | Marsh Landing | NRG Yield Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Term Loan | Term Loan | Term Loan | Term Loan | Term Loan | Term Loan | Term Loan | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Letters of Credit | Term Loan | Construction Loan | Construction Loan | Cash Grant Loan | Cash Grant Loan | Cash Grant Loan | Cash Grant Loan | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Interest Rate Swaps | Interest Rate Swaps | Interest Rate Swaps | Non Recourse Debt | Non Recourse Debt | Letters of Credit | Letters of Credit | Letters of Credit | Term Loan | Term Loan | Term Loan | Term Loan | Term Loan | Fixed Rate Notes | Fixed Rate Notes | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Fixed Rate Notes | Floating Rate Notes | Floating Rate Notes | Bridge Loan | Bridge Loan | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Letters of Credit | Term Loan | Term Loan | Cash Grant Bridge Loan | Cash Grant Bridge Loan | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Non Recourse Debt | Letters of Credit | MW | MW | Letters of Credit | Revolving Credit Facility | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | interest_rate_derivative | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt and Capital Leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | $16,699 | ' | $16,699 | ' | $15,866 | $8,091 | $7,818 | $8,608 | $8,048 | ' | ' | ' | $1,130 | $1,200 | ' | $601 | $693 | ' | $1,063 | $1,100 | $800 | $800 | $1,128 | $1,128 | $990 | $990 | $2,006 | $1,573 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $247 | $247 | ' | ' | $59 | $59 | $67 | $28 | ' | ' | $0 | $617 | $787 | $800 | $785 | $801 | $624 | $631 | $504 | $509 | $435 | $437 | $500 | $390 | ' | ' | ' | ' | $1,104 | $786 | $475 | $350 | ' | $764 | $640 | $1,561 | $1,437 | $69 | $72 | ' | $176 | $173 | ' | $129 | $137 | ' | ' | ' | $223 | $2 | ' | $161 | ' | ' | ' | $62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $79 | $0 | ' | ' | ' | ' | $34 | ' | ' | ' | $45 | ' | ' | ' | ' | $64 | $66 | ' | $82 | $82 | $0 | ' | ' | ' | $53 | $7 | ' | $22 | ' | ' | ' | ' | ' | ' | $59 | $59 | $0 | ' | $38 | ' | $21 | ' | ' | ' | $188 | $200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Chalk Point capital lease, due 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | 14 | 3 | 3 | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal | 16,713 | ' | 16,713 | ' | 15,883 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Less current maturities | 911 | ' | 911 | ' | 147 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total long-term debt and capital leases | 15,802 | ' | 15,802 | ' | 15,736 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate, stated rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.63% | [1] | ' | ' | 8.50% | [1] | ' | ' | 8.25% | [1] | ' | 7.63% | [1] | ' | 7.88% | [1] | ' | 6.63% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | [1] | 5.38% | [1] | 5.88% | [1] | ' | 4.75% | [1] | ' | ' | ' | 7.63% | [1] | ' | 7.88% | [1] | ' | 9.50% | [1] | ' | 9.88% | [1] | ' | 8.50% | [1] | ' | 9.13% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.31% | [1] | ' | 5.95% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.65% | ' | ' | 5.65% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.15% | ' | ' | ' | ' | ' | ' | ' | ' | 5.15% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||
Interest rate, variable basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | [1] | ' | ' | 'LIBOR | ' | ' | 'LIBOR | ' | ' | 'LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | [1] | ' | 'LIBOR | [1] | ' | ' | ' | 'LIBOR | [1] | ' | ' | ' | ' | ' | ' | 'LIBOR | [1] | ' | ' | 'LIBOR | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | [1] | ' | 'LIBOR | [1] | ' | '3 month LIBOR | ' | ' | ' | ' | ' | ' | ' | '3 month LIBOR | ' | ' | ' | ' | ' | ' | 'LIBOR | [1] | ' | ' | 'LIBOR | [1] | ' | ' | ' | ' | ' | '3 month LIBOR | ' | ' | ' | '3 month LIBOR | ' | '3 month LIBOR | ' | 'LIBOR | [1] | ' | 'LIBOR | [1] | ' | ' | ' | ' | ' | ' | '6 month LIBOR | ' | '1 month LIBOR | ' | 'LIBOR | [1] | 'LIBOR | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||
Interest rate, basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | [1] | ' | ' | 2.25% | ' | ' | ' | ' | ' | 2.00% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | [1] | ' | 2.75% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.63% | [1] | ' | ' | 1.07% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.25% | [1] | ' | 2.50% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' | 2.50% | [1] | ' | ' | ' | 2.25% | [1] | ' | ' | ' | ' | ' | 2.50% | ' | ' | 2.50% | ' | 2.50% | ' | 2.50% | [1] | ' | 2.50% | [1] | ' | ' | ' | ' | ' | ' | 2.63% | ' | 2.00% | 2.00% | 2.63% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Interest rate, range, minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.61% | [1] | ' | ' | ' | 2.25% | [1] | 2.40% | [1] | ' | 1.12% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.12% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate, range, maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.58% | [1] | ' | ' | ' | 2.75% | [1] | 3.47% | [1] | ' | 4.26% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.25% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate, Chalk Point capital lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.19% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Additional borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 164 | ' | 62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt redeemed and re-issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 407 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase/redemption price, percentage of face amount (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114.18% | ' | ' | 111.70% | ' | ' | 113.08% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106.78% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on debt extinguishment | 1 | 41 | 50 | 41 | ' | ' | ' | ' | ' | 28 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Capacity (in MW) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 20 | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, discount on issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum borrowing capacity, amendment, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 211 | 211 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500 | 2,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 166 | ' | ' | ' | 68 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchased/redeemed debt, face value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 575 | 575 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Cash paid for senior notes repurchases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80 | ' | ' | 104 | ' | ' | 42 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Letters of credit issued and outstanding at period end, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26 | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Issued letters of credit returned, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 82 | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | ' | ' | ' | 45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate, escalation percent of basis spread on variable rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, escalation period of basis spread on variable rate (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Letters of credit, availability fee, percentage of applicable margin (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Number of interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps, minimum percent of outstanding notional amount required to have a fixed interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps, fixed interest payment rate equivalent (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative, Notional Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, period payment is due after receipt of cash (in days) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Line of credit facility, maximum borrowing capacity available for issuance of letters of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | As of September 30, 2013, L+ equals 3 month LIBOR plus x%, with the exception of NRG Solar Alpine LLC cash grant loan and NRG Solar Kansas South LLC cash grant bridge loan which are 1 month LIBOR plus x% and NRG Solar Kansas South LLC term loan which is 6 month LIBOR plus x%. |
Variable_Interest_Entities_Det
Variable Interest Entities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Investments Accounted for by the Equity Method | ' | ' |
Equity investments in affiliates | $626 | $676 |
GenConn Energy LLC | ' | ' |
Investments Accounted for by the Equity Method | ' | ' |
Economic interest in equity method investments (as a percent) | 50.00% | ' |
Power generation units | 2 | ' |
Generation Capacity (in MW) | 190 | ' |
Equity investments in affiliates | 118 | ' |
Sherbino I Wind Farm LLC | ' | ' |
Investments Accounted for by the Equity Method | ' | ' |
Economic interest in equity method investments (as a percent) | 50.00% | ' |
Equity investments in affiliates | 88 | ' |
Texas Coastal Ventures LLC | ' | ' |
Investments Accounted for by the Equity Method | ' | ' |
Economic interest in equity method investments (as a percent) | 50.00% | ' |
Equity investments in affiliates | $63 | ' |
Changes_in_Capital_Structure_D
Changes in Capital Structure (Details) | 3 Months Ended | 9 Months Ended | 0 Months Ended | |||
Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 18, 2013 | |
Common Stock | Treasury Stock | Edison Mission Energy | ||||
Subsequent Event | ||||||
Common Stock | ||||||
Common stock authorized (in shares) | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | 500,000,000 | 500,000,000 | ' | ' | ' |
Changes in common stock issued and outstanding (in shares) | ' | ' | ' | ' | ' | ' |
Shares issued, balance at the beginning of the year | 399,112,616 | 400,675,096 | ' | ' | ' | ' |
Shares outstanding, balance at the beginning of the year | 322,606,898 | 323,327,568 | ' | ' | ' | ' |
Shares issued from LTIP | ' | ' | ' | 1,562,480 | ' | ' |
Shares issued under ESPP | ' | ' | ' | 130,482 | 130,482 | ' |
Shares issued, balance at the end of the year | ' | 400,675,096 | ' | ' | ' | ' |
Shares outstanding, balance at the end of the year | ' | 323,327,568 | ' | ' | ' | ' |
Changes in treasury stock (in shares) | ' | ' | ' | ' | ' | ' |
Treasury shares, balance at the beginning of the year | -76,505,718 | -77,347,528 | ' | ' | ' | ' |
Shares issued under ESPP | ' | ' | ' | 130,482 | 130,482 | ' |
Shares repurchased under Capital Allocation Program | 972,292 | ' | ' | -972,292 | 972,292 | ' |
Treasury shares, balance at the beginning of the year | ' | -77,347,528 | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | ' | ' | ' | ' | 12,671,977 |
Changes_in_Capital_Structure_D1
Changes in Capital Structure (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 27, 2013 |
Subsequent Event | Scenario, Forecast | Scenario, Forecast | Scenario, Plan [Member] | Scenario, Plan [Member] | |||||||
Employee Stock Purchase Plan and 2013 Capital Allocation Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NRG's annual common stock dividend, propsed increase for 2013 (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.00% |
NRG's annual common stock dividend, proposed amount for 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.48 | ' |
Dividend paid | $0.12 | $0.12 | $0.09 | $0.09 | $0.33 | $0.09 | ' | ' | ' | ' | ' |
Dividend declared | ' | ' | ' | ' | ' | ' | $0.12 | ' | ' | ' | ' |
Shares repurchased under Capital Allocation Program, dollar amount authorized | ' | ' | ' | ' | ' | ' | ' | ' | $200 | ' | ' |
Shares repurchased under Capital Allocation Program | ' | ' | 972,292 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased under Capital Allocation Program, value | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased under Capital Allocation Program, weighted average value per share | ' | ' | $25.88 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased under Capital Allocation Program, remaining dollar amount authorized | ' | ' | ' | ' | ' | ' | ' | $175 | ' | ' | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Numerator: | ' | ' | ' | ' | ' |
Net income/(loss) attributable to NRG Energy, Inc. | $124 | ($1) | ($74) | $43 | ' |
Dividends for preferred shares | 2 | 2 | 7 | 7 | ' |
Income/(loss) Available for Common Stockholders | $122 | ($3) | ($81) | $36 | ' |
Denominator: | ' | ' | ' | ' | ' |
Weighted average number of common shares outstanding | 323 | 228 | 323 | 228 | ' |
Basic earnings per share: | ' | ' | ' | ' | ' |
Earnings/(loss) per weighted average common share — basic | $0.38 | ($0.01) | ($0.25) | $0.16 | ' |
Denominator (diluted earnings per share): | ' | ' | ' | ' | ' |
Incremental shares attributable to the issuance of equity compensation (treasury stock method) | 4 | 0 | 0 | 2 | ' |
Total dilutive shares | 327 | 228 | 323 | 230 | ' |
Diluted earnings per share: | ' | ' | ' | ' | ' |
Diluted earnings per share attributable to NRG common stockholders | $0.37 | ($0.01) | ($0.25) | $0.16 | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | ' | ' | ' | ' |
Antidilutive securities excluded from computation of diluted earnings per share, amount | 18 | 27 | 26 | 22 | ' |
3.625% convertible perpetual preferred stock, interest rate (as a percentage) | 3.63% | 3.63% | 3.63% | 3.63% | 3.63% |
Equity compensation plans | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | ' | ' | ' | ' |
Antidilutive securities excluded from computation of diluted earnings per share, amount | 2 | 11 | 10 | 6 | ' |
Embedded derivative of 3.625% redeemable perpetual preferred stock | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | ' | ' | ' | ' |
Antidilutive securities excluded from computation of diluted earnings per share, amount | 16 | 16 | 16 | 16 | ' |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | $3,490 | $2,331 | $8,500 | $6,359 | ' | ||||
Depreciation and amortization | 318 | 239 | 921 | 703 | ' | ||||
Equity in earnings/(losses) of unconsolidated affiliates | -5 | 4 | 6 | 26 | ' | ||||
(Loss)/income before income taxes | 306 | -105 | -94 | -185 | ' | ||||
Net income/(loss) attributable to NRG Energy, Inc. | 124 | -1 | -74 | 43 | ' | ||||
Total assets | 34,863 | ' | 34,863 | ' | 35,104 | ||||
Includes loss on debt extinguishment of | 1 | 41 | 50 | 41 | ' | ||||
Retail | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | 1,994 | [1] | 1,856 | [2] | 4,760 | [3] | 4,492 | [4] | ' |
Depreciation and amortization | 37 | [1] | 41 | [2] | 105 | [3] | 126 | [4] | ' |
Equity in earnings/(losses) of unconsolidated affiliates | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] | ' |
(Loss)/income before income taxes | -60 | [1] | -300 | [2] | 231 | [3] | 504 | [4] | ' |
Net income/(loss) attributable to NRG Energy, Inc. | -60 | [1] | -300 | [2] | 231 | [3] | 504 | [4] | ' |
Total assets | 4,296 | [1] | ' | 4,296 | [1] | ' | ' | ||
Includes intersegment sales and derivative gains and losses of | 2 | 3 | 4 | 3 | ' | ||||
Conventional Power Generation | Texas | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | 881 | [1] | 877 | [2] | 1,712 | [3] | 1,462 | [4] | ' |
Depreciation and amortization | 116 | [1] | 115 | [2] | 340 | [3] | 343 | [4] | ' |
Equity in earnings/(losses) of unconsolidated affiliates | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] | ' |
(Loss)/income before income taxes | 265 | [1] | 299 | [2] | 14 | [3] | -202 | [4] | ' |
Net income/(loss) attributable to NRG Energy, Inc. | 265 | [1] | 299 | [2] | 14 | [3] | -202 | [4] | ' |
Total assets | 11,914 | [1] | ' | 11,914 | [1] | ' | ' | ||
Includes intersegment sales and derivative gains and losses of | 910 | 1,126 | 1,732 | 1,287 | ' | ||||
Conventional Power Generation | East | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | 1,011 | [1] | 274 | [2] | 2,432 | [3] | 598 | [4] | ' |
Depreciation and amortization | 79 | [1] | 32 | [2] | 236 | [3] | 96 | [4] | ' |
Equity in earnings/(losses) of unconsolidated affiliates | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] | ' |
(Loss)/income before income taxes | 245 | [1] | 30 | [2] | 238 | [3] | -31 | [4] | ' |
Net income/(loss) attributable to NRG Energy, Inc. | 245 | [1] | 30 | [2] | 238 | [3] | -31 | [4] | ' |
Total assets | 8,329 | [1] | ' | 8,329 | [1] | ' | ' | ||
Includes intersegment sales and derivative gains and losses of | 55 | 6 | 99 | 51 | ' | ||||
Conventional Power Generation | South Central | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | 244 | [1] | 270 | [2] | 656 | [3] | 653 | [4] | ' |
Depreciation and amortization | 24 | [1] | 23 | [2] | 73 | [3] | 69 | [4] | ' |
Equity in earnings/(losses) of unconsolidated affiliates | 1 | [1] | 0 | [2] | 3 | [3] | 0 | [4] | ' |
(Loss)/income before income taxes | 17 | [1] | 19 | [2] | 17 | [3] | 0 | [4] | ' |
Net income/(loss) attributable to NRG Energy, Inc. | 17 | [1] | 19 | [2] | 17 | [3] | 0 | [4] | ' |
Total assets | 2,290 | [1] | ' | 2,290 | [1] | ' | ' | ||
Includes intersegment sales and derivative gains and losses of | 0 | 0 | 16 | 0 | ' | ||||
Conventional Power Generation | West | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | 134 | 87 | [2] | 347 | [3] | 185 | [4] | ' | |
Depreciation and amortization | 13 | 3 | [2] | 37 | [3] | 8 | [4] | ' | |
Equity in earnings/(losses) of unconsolidated affiliates | -10 | 4 | [2] | -8 | [3] | 6 | [4] | ' | |
(Loss)/income before income taxes | 30 | 35 | [2] | 62 | [3] | 42 | [4] | ' | |
Net income/(loss) attributable to NRG Energy, Inc. | 30 | 35 | [2] | 62 | [3] | 42 | [4] | ' | |
Total assets | 1,553 | ' | 1,553 | ' | ' | ||||
Includes intersegment sales and derivative gains and losses of | 0 | 0 | 3 | 0 | ' | ||||
Conventional Power Generation | Other | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | 38 | [1] | 28 | [2] | 110 | [3] | 152 | [4] | ' |
Depreciation and amortization | 1 | [1] | 1 | [2] | 3 | [3] | 1 | [4] | ' |
Equity in earnings/(losses) of unconsolidated affiliates | 0 | [1] | 3 | [2] | 2 | [3] | 8 | [4] | ' |
(Loss)/income before income taxes | 1 | [1] | 5 | [2] | 3 | [3] | 22 | [4] | ' |
Net income/(loss) attributable to NRG Energy, Inc. | 1 | [1] | 5 | [2] | 2 | [3] | 18 | [4] | ' |
Total assets | 461 | [1] | ' | 461 | [1] | ' | ' | ||
Includes intersegment sales and derivative gains and losses of | 15 | 12 | 48 | 55 | ' | ||||
Alternative Energy | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | 83 | [1] | 49 | [2] | 177 | [3] | 91 | [4] | ' |
Depreciation and amortization | 27 | [1] | 15 | [2] | 78 | [3] | 34 | [4] | ' |
Equity in earnings/(losses) of unconsolidated affiliates | -3 | [1] | -9 | [2] | -7 | [3] | -3 | [4] | ' |
(Loss)/income before income taxes | 1 | [1] | -8 | [2] | -48 | [3] | -27 | [4] | ' |
Net income/(loss) attributable to NRG Energy, Inc. | -21 | [1] | -16 | [2] | -75 | [3] | -45 | [4] | ' |
Total assets | 6,162 | [1] | ' | 6,162 | [1] | ' | ' | ||
Includes intersegment sales and derivative gains and losses of | 8 | 10 | 19 | 18 | ' | ||||
NRG Yield | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | 95 | [1] | 47 | [2] | 227 | [3] | 133 | [4] | ' |
Depreciation and amortization | 16 | [1] | 6 | [2] | 35 | [3] | 18 | [4] | ' |
Equity in earnings/(losses) of unconsolidated affiliates | 12 | [1] | 6 | [2] | 18 | [3] | 15 | [4] | ' |
(Loss)/income before income taxes | 45 | [1] | 12 | [2] | 90 | [3] | 18 | [4] | ' |
Net income/(loss) attributable to NRG Energy, Inc. | 31 | [1] | 4 | [2] | 76 | [3] | 8 | [4] | ' |
Total assets | 2,331 | [1] | ' | 2,331 | [1] | ' | ' | ||
Includes intersegment sales and derivative gains and losses of | 0 | 0 | 0 | 0 | ' | ||||
Corporate | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | 0 | [1],[5] | 4 | [2],[6] | 9 | [3],[7] | 11 | [4],[6] | ' |
Depreciation and amortization | 5 | [1],[5] | 3 | [2],[6] | 14 | [3],[7] | 8 | [4],[6] | ' |
Equity in earnings/(losses) of unconsolidated affiliates | 0 | [1],[5] | 0 | [2],[6] | 0 | [3],[7] | 0 | [4],[6] | ' |
(Loss)/income before income taxes | -217 | [1],[5] | -197 | [2],[6] | -695 | [3],[7] | -511 | [4],[6] | ' |
Net income/(loss) attributable to NRG Energy, Inc. | -375 | [1],[5] | -77 | [2],[6] | -642 | [3],[7] | -251 | [4],[6] | ' |
Total assets | 4,863 | [1],[5] | ' | 4,863 | [1],[5] | ' | ' | ||
Includes loss on debt extinguishment of | 1 | 41 | 50 | 41 | ' | ||||
Includes intersegment sales and derivative gains and losses of | 0 | 4 | 9 | 4 | ' | ||||
Elimination | ' | ' | ' | ' | ' | ||||
Segment Reporting Information | ' | ' | ' | ' | ' | ||||
Operating revenues | -990 | -1,161 | -1,930 | -1,418 | ' | ||||
Depreciation and amortization | 0 | 0 | 0 | 0 | ' | ||||
Equity in earnings/(losses) of unconsolidated affiliates | -5 | 0 | -2 | 0 | ' | ||||
(Loss)/income before income taxes | -21 | 0 | -6 | 0 | ' | ||||
Net income/(loss) attributable to NRG Energy, Inc. | -9 | 0 | 3 | 0 | ' | ||||
Total assets | ($7,336) | ' | ($7,336) | ' | ' | ||||
[1] | (a) Operating revenues include inter-segment sales and net derivative gains and losses of:$2 $910 $55 $— $— $15 $8 $— $— | ||||||||
[2] | (c) Operating revenues include inter-segment sales and net derivative gains and losses of:$3 $1,126 $6 $— $— $12 $10 $— $4 | ||||||||
[3] | (e) Operating revenues include inter-segment sales and net derivative gains and losses of:$4 $1,732 $99 $16 $3 $48 $19 — $9 | ||||||||
[4] | (g) Operating revenues include inter-segment sales and net derivative gains and losses of:$3 $1,287 $51 $— $— $55 $18 $— $4 | ||||||||
[5] | Includes loss on debt extinguishment of $1 million. | ||||||||
[6] | Includes loss on debt extinguishment of $41 million. | ||||||||
[7] | Includes loss on debt extinguishment of $50 million. |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Effective Tax Rate | ' | ' | ' | ' |
Income/(loss) before income taxes | $306 | ($105) | ($94) | ($185) |
Income tax expense/(benefit) | 163 | -113 | -47 | -246 |
Effective tax rate (as a percent) | 53.30% | 107.60% | 50.00% | 133.00% |
Statutory tax rate (as a percent) | 35.00% | 35.00% | 35.00% | 35.00% |
Uncertain Tax Benefits | ' | ' | ' | ' |
Non-current tax liability for uncertain tax benefits | 74 | ' | 74 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | ' | ' | 1 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $17 | ' | $17 | ' |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 61 Months Ended | 0 Months Ended | 1 Months Ended | 4 Months Ended | 9 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 13 Months Ended | 1 Months Ended | 9 Months Ended | 0 Months Ended | |||||||||||||||||
Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2008 | Mar. 31, 2018 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 06, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Apr. 30, 2012 | Jun. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Mar. 31, 2013 | Jan. 31, 2013 | Feb. 28, 2008 | Sep. 30, 2013 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Jul. 31, 2011 | Sep. 30, 2013 | Apr. 30, 2011 | Sep. 30, 2010 | Feb. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Nov. 12, 2013 | |
Weeks | Nuclear Event | Non-nuclear Event | Louisiana Generating, LLC | New Source Review | New Source Review | Cheswick Class Action | Ormond Beach Alleged Federal Clean Water Act Violations | Agreement To Acquire All Outstanding Shares of GenOn | Notice of Intent to File Citizens Suit | Notice of Intent to File Citizens Suit | Notice of Intent to File Citizens Suit | Global Warming | Maryland Fly Ash | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Energy | GenOn Energy | GenOn Energy | GenOn Energy | GenOn Mid-Atlantic and GenOn MD Ash Management | GenOn Mid-Atlantic and GenOn MD Ash Management | Energy Plus | Energy Plus | New York | New Jersey | Pennsylvania | Subsequent Event | ||||
Months | nov | mi | Lawsuits | permit | Environmental Issue | fly_ash_facility | Maryland Fly Ash | Maryland Fly Ash | Maryland Fly Ash | Texas Franchise Audit | Natural Gas Litigation | Natural Gas Litigation | Natural Gas Litigation | Brandywine Litigation, Coal Combusion Waste | Brandywine Litigation, Coal Combusion Waste | Class Action Related to Sales, Marketing and Business Practices | Class Action Related to Sales, Marketing and Business Practices | Energy Plus | Energy Plus | Energy Plus | Big Cajun II Alleged Opacity Violations | |||||||||||
year | facility | companies | Environmental Issue | Environmental Issue | Environmental Issue | legal_cases | Lawsuits | Lawsuits | environmental_advocy_group | Lawsuits | Lawsuits | Class Action Related to Sales, Marketing and Business Practices | Class Action Related to Sales, Marketing and Business Practices | Class Action Related to Sales, Marketing and Business Practices | ||||||||||||||||||
fly_ash_facility | Lawsuits | Lawsuits | Lawsuits | |||||||||||||||||||||||||||||
Loss Contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nuclear Insurance Annual Coverage Limit | ' | $13,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nuclear Insurance Requirement Per Site | ' | 375,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nuclear Insurance Financial Protection Pool Value | ' | 13,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nuclear Insurance Financial Protection Pool, Maximum Assessment | ' | 127,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nuclear Insurance Financial Protection Pool, Maximum Assessment, Adminstrative Fee, As a Percent | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mutual Property Insurance Total Property Coverage | ' | ' | ' | ' | 2,750,000,000 | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mutual Property Insurance Additional Blanket Policy Property Coverage | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mutual Property Insurance Individual Maximum Property Coverage Limit | ' | 1,750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Mutual Lost Revenue Insurance Weekly Maximum | ' | 1,980,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accidental Outage Maximum Recovery For Lost Revenues | ' | ' | ' | ' | 215,600,000 | 144,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nuclear Insurance Financial Protection Pool Maximum Annual Assessment | ' | 19,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forty-Four Percent Maximum Assessment | ' | 44.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nuclear Insurance Financial Protection Pool Nuclear Operator Maximum Annual Assessment | ' | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nuclear Insurance Financial Protection Pool Nuclear Operator Total Assessment | ' | 112,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Twenty-Three Weeks Waiting Period | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Industry Mutual Insurance Company Multiplier | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Twenty-Four Months | ' | 24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Years Board Of Directors Of Industry Mutual Insurance Company Can Adjust Policy After Policy Expires | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Civil Penalties | 3,500,000 | ' | ' | ' | ' | ' | 3,500,000 | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Loss in Period | ' | ' | ' | 10,500,000 | ' | ' | 10,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Range of Possible Loss, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
number of companies also included in lawsuit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Number of NOVs Issued | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Facilities | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation Settlement, Amount | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,000 |
Litigation Settlement, Review Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days |
Distance From Facility of People who Own Property | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Civil Penalties which May Be Assumed | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency Obligation, Legal Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency Obligation, Supplemental Environmental Projects | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency Obligation, Monitoring Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Fly Ash Facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Requested Period of Time for Open Disposal Cells to be Closed and Capped | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' |
Number of Environmental Advocacy Groups, Intervening Parties to Litigation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' |
Civil Penalties, Accrued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency Accrual, at Carrying Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Number of Plaintiffs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 2 | 2 | 2 | ' |
Loss Contingency, Claims Settled and Dismissed, Number | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 4 | ' | ' | ' | 6 | ' | ' | ' | ' | ' |
Loss Contingency, Pending Claims, Number | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Permits that Regulate Polution Discharge Elimination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Number of Days to Comply with Discharge Violation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Examination, Penalties and Interest Accrued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 72,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Examination, Interest Accrued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax Adjustments, Settlements, and Unusual Provisions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Regulatory_Matters_Details
Regulatory Matters (Details) (USD $) | 1 Months Ended | ||
In Millions, unless otherwise specified | 31-May-10 | Jul. 05, 2012 | Dec. 31, 2011 |
orders | owners | ||
Regulatory Matters Disclosure [Abstract] | ' | ' | ' |
Number of Significant Orders Issued by Authority | 2 | ' | ' |
SECA charges owed by BP Energy | ' | ' | $22 |
Regulatory Charges Settled by Third Party | ' | 24 | ' |
Number of PJM Transmission Owners Who Filed Motion | ' | 3 | ' |
Regulatory Charges Settled by Third Party, Additional | ' | $1 | ' |
Environmental_Matters_Details
Environmental Matters (Details) (USD $) | 1 Months Ended | 12 Months Ended | 61 Months Ended | |
Mar. 31, 2013 | Dec. 31, 2008 | Mar. 31, 2018 | Sep. 30, 2013 | |
Environmental Matters Disclosure [Abstract] | ' | ' | ' | ' |
Estimated environmental capital expenditures from 2013 through 2017 | ' | ' | ' | $530,000,000 |
Estimated environmental capital expenditures from 2013 through 2017, attributable to GenOn | ' | ' | ' | 223,000,000 |
Minimum Civil Penalties which May Be Assumed | ' | 200,000 | ' | ' |
Civil Penalties | 3,500,000 | ' | ' | ' |
Loss Contingency, Loss in Period | ' | ' | $10,500,000 | ' |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Debt Instrument | ' | ' |
Long-term debt | $16,699 | $15,866 |
Recourse Debt | ' | ' |
Debt Instrument | ' | ' |
Long-term debt | 8,091 | 7,818 |
Senior Notes [Member] | Recourse Debt | ' | ' |
Debt Instrument | ' | ' |
Long-term debt | $5,700 | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Operating Revenues | ' | ' | ' | ' | ' | ||||
Total operating revenues | $3,490 | $2,331 | ' | $8,500 | $6,359 | ||||
Operating Costs and Expenses | ' | ' | ' | ' | ' | ||||
Cost of operations | 2,355 | 1,740 | ' | 6,179 | 4,660 | ||||
Depreciation and amortization | 318 | 239 | ' | 921 | 703 | ||||
Selling, general and administrative | 229 | 224 | ' | 671 | 613 | ||||
Acquisition-related transaction and integration costs | 26 | 18 | ' | 95 | 18 | ||||
Development activity expenses | 27 | 24 | ' | 63 | 52 | ||||
Costs and Expenses | 2,955 | 2,245 | ' | 7,929 | 6,046 | ||||
Operating Income (Loss) | 535 | 86 | ' | 571 | 313 | ||||
Other Income/(Expense) | ' | ' | ' | ' | ' | ||||
Equity in earnings/(losses) of consolidated subsidiaries | 0 | 0 | ' | 0 | 0 | ||||
Equity in (losses)/earnings of unconsolidated affiliates | -5 | 4 | ' | 6 | 26 | ||||
Other income, net | 5 | 9 | ' | 9 | 12 | ||||
Loss on debt extinguishment | -1 | -41 | ' | -50 | -41 | ||||
Interest expense | -228 | -163 | ' | -630 | -495 | ||||
Total other expense | -229 | -191 | ' | -665 | -498 | ||||
(Loss)/income before income taxes | 306 | -105 | ' | -94 | -185 | ||||
Income tax expense/(benefit) | 163 | -113 | ' | -47 | -246 | ||||
Net Income/(Loss) | 143 | 8 | ' | -47 | 61 | ||||
Less: Net income attributable to noncontrolling interest | 19 | 9 | ' | 27 | 18 | ||||
Net income/(loss) attributable to NRG Energy, Inc. | 124 | -1 | ' | -74 | 43 | ||||
Other Comprehensive Income/(Loss), net of tax | ' | ' | ' | ' | ' | ||||
Unrealized (loss)/gain on derivatives, net | -16 | -43 | ' | 8 | -132 | ||||
Foreign currency translation adjustments, net | 5 | 1 | ' | -14 | -1 | ||||
Reclassification adjustment for translation gain realized upon sale of Schkopau, net of income tax expense of $0, $6, $0 and $6 | 0 | -11 | ' | 0 | -11 | ||||
Available-for-sale securities, net | 0 | 2 | 2 | 2 | 2 | ||||
Defined benefit plan, net | 0 | 0 | ' | 25 | 0 | ||||
Other comprehensive (loss)/income | -11 | -51 | ' | 21 | -142 | ||||
Comprehensive income/(loss) | 132 | -43 | ' | -26 | -81 | ||||
Comprehensive income attributable to noncontrolling interest | 18 | 9 | ' | 26 | 18 | ||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 114 | -52 | ' | -52 | -99 | ||||
Dividends for preferred shares | -2 | -2 | ' | -7 | -7 | ||||
Comprehensive Income/(Loss) Available for Common Stockholders | 112 | -54 | ' | -59 | -106 | ||||
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ||||
Operating Revenues | ' | ' | ' | ' | ' | ||||
Total operating revenues | 2,464 | 2,237 | ' | 6,225 | 6,058 | ||||
Operating Costs and Expenses | ' | ' | ' | ' | ' | ||||
Cost of operations | 1,792 | 1,715 | ' | 4,697 | 4,512 | ||||
Depreciation and amortization | 213 | 217 | ' | 624 | 647 | ||||
Selling, general and administrative | 116 | 154 | ' | 341 | 387 | ||||
Acquisition-related transaction and integration costs | 0 | 0 | ' | 0 | 0 | ||||
Development activity expenses | 0 | 0 | ' | 0 | 0 | ||||
Costs and Expenses | 2,121 | 2,086 | ' | 5,662 | 5,546 | ||||
Operating Income (Loss) | 343 | 151 | ' | 563 | 512 | ||||
Other Income/(Expense) | ' | ' | ' | ' | ' | ||||
Equity in earnings/(losses) of consolidated subsidiaries | -25 | -10 | ' | -4 | 6 | ||||
Equity in (losses)/earnings of unconsolidated affiliates | -10 | 4 | ' | -8 | 6 | ||||
Other income, net | 5 | 0 | ' | 7 | 0 | ||||
Loss on debt extinguishment | 0 | 0 | ' | 0 | 0 | ||||
Interest expense | -3 | 5 | ' | -13 | 21 | ||||
Total other expense | -33 | -11 | ' | -18 | -9 | ||||
(Loss)/income before income taxes | 310 | 140 | ' | 545 | 503 | ||||
Income tax expense/(benefit) | 126 | 67 | ' | 212 | 193 | ||||
Net Income/(Loss) | 184 | 73 | ' | 333 | 310 | ||||
Less: Net income attributable to noncontrolling interest | 0 | 0 | ' | 0 | 0 | ||||
Net income/(loss) attributable to NRG Energy, Inc. | 184 | 73 | ' | 333 | 310 | ||||
Other Comprehensive Income/(Loss), net of tax | ' | ' | ' | ' | ' | ||||
Unrealized (loss)/gain on derivatives, net | -13 | -43 | ' | -54 | -122 | ||||
Foreign currency translation adjustments, net | 0 | 0 | ' | 0 | 0 | ||||
Reclassification adjustment for translation gain realized upon sale of Schkopau, net of income tax expense of $0, $6, $0 and $6 | ' | ' | ' | ' | 0 | ||||
Available-for-sale securities, net | ' | 0 | ' | 0 | 0 | ||||
Defined benefit plan, net | ' | ' | ' | 0 | ' | ||||
Other comprehensive (loss)/income | -13 | -43 | ' | -54 | -122 | ||||
Comprehensive income/(loss) | 171 | 30 | ' | 279 | 188 | ||||
Comprehensive income attributable to noncontrolling interest | 0 | 0 | ' | 0 | 0 | ||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 171 | 30 | ' | 279 | 188 | ||||
Dividends for preferred shares | 0 | 0 | ' | 0 | 0 | ||||
Comprehensive Income/(Loss) Available for Common Stockholders | 171 | 30 | ' | 279 | 188 | ||||
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ||||
Operating Revenues | ' | ' | ' | ' | ' | ||||
Total operating revenues | 1,019 | 120 | ' | 2,394 | 353 | ||||
Operating Costs and Expenses | ' | ' | ' | ' | ' | ||||
Cost of operations | 566 | 47 | ' | 1,593 | 186 | ||||
Depreciation and amortization | 102 | 20 | ' | 288 | 48 | ||||
Selling, general and administrative | 70 | 0 | ' | 173 | 6 | ||||
Acquisition-related transaction and integration costs | 13 | 0 | ' | 54 | 0 | ||||
Development activity expenses | 14 | 14 | ' | 24 | 22 | ||||
Costs and Expenses | 765 | 81 | ' | 2,132 | 262 | ||||
Operating Income (Loss) | 254 | 39 | ' | 262 | 91 | ||||
Other Income/(Expense) | ' | ' | ' | ' | ' | ||||
Equity in earnings/(losses) of consolidated subsidiaries | -5 | 1 | ' | -9 | -11 | ||||
Equity in (losses)/earnings of unconsolidated affiliates | 10 | 0 | ' | 16 | 20 | ||||
Other income, net | 3 | 2 | ' | 5 | 4 | ||||
Loss on debt extinguishment | -1 | 0 | ' | -12 | 0 | ||||
Interest expense | -88 | 21 | ' | -229 | 60 | ||||
Total other expense | -81 | -18 | ' | -229 | -47 | ||||
(Loss)/income before income taxes | 173 | 21 | ' | 33 | 44 | ||||
Income tax expense/(benefit) | 59 | -27 | ' | -10 | -122 | ||||
Net Income/(Loss) | 114 | 48 | ' | 43 | 166 | ||||
Less: Net income attributable to noncontrolling interest | 32 | 9 | ' | 40 | 18 | ||||
Net income/(loss) attributable to NRG Energy, Inc. | 82 | 39 | ' | 3 | 148 | ||||
Other Comprehensive Income/(Loss), net of tax | ' | ' | ' | ' | ' | ||||
Unrealized (loss)/gain on derivatives, net | -8 | -14 | ' | 41 | -33 | ||||
Foreign currency translation adjustments, net | 4 | 0 | ' | -11 | -2 | ||||
Reclassification adjustment for translation gain realized upon sale of Schkopau, net of income tax expense of $0, $6, $0 and $6 | ' | ' | ' | ' | -11 | ||||
Available-for-sale securities, net | ' | 0 | ' | 0 | 0 | ||||
Defined benefit plan, net | ' | ' | ' | -25 | ' | ||||
Other comprehensive (loss)/income | -4 | -25 | ' | 55 | -46 | ||||
Comprehensive income/(loss) | 110 | 23 | ' | 98 | 120 | ||||
Comprehensive income attributable to noncontrolling interest | 29 | 9 | ' | 39 | 18 | ||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 81 | 14 | ' | 59 | 102 | ||||
Dividends for preferred shares | 0 | 0 | ' | 0 | 0 | ||||
Comprehensive Income/(Loss) Available for Common Stockholders | 81 | 14 | ' | 59 | 102 | ||||
NRG Energy, Inc. | ' | ' | ' | ' | ' | ||||
Operating Revenues | ' | ' | ' | ' | ' | ||||
Total operating revenues | 0 | 0 | ' | 0 | 0 | ||||
Operating Costs and Expenses | ' | ' | ' | ' | ' | ||||
Cost of operations | -6 | 1 | ' | 1 | 7 | ||||
Depreciation and amortization | 3 | 2 | ' | 9 | 8 | ||||
Selling, general and administrative | 39 | 73 | ' | 164 | 227 | ||||
Acquisition-related transaction and integration costs | 13 | 18 | ' | 41 | 18 | ||||
Development activity expenses | 13 | 10 | ' | 39 | 30 | ||||
Costs and Expenses | 62 | 104 | ' | 254 | 290 | ||||
Operating Income (Loss) | -62 | -104 | ' | -254 | -290 | ||||
Other Income/(Expense) | ' | ' | ' | ' | ' | ||||
Equity in earnings/(losses) of consolidated subsidiaries | 309 | 121 | ' | 363 | 463 | ||||
Equity in (losses)/earnings of unconsolidated affiliates | 0 | 0 | ' | 0 | 0 | ||||
Other income, net | 1 | 7 | ' | 3 | 8 | ||||
Loss on debt extinguishment | 0 | -41 | ' | -38 | -41 | ||||
Interest expense | -137 | 137 | ' | -388 | 414 | ||||
Total other expense | 173 | -50 | ' | -60 | 16 | ||||
(Loss)/income before income taxes | 111 | -154 | ' | -314 | -274 | ||||
Income tax expense/(benefit) | -22 | -153 | ' | -249 | -317 | ||||
Net Income/(Loss) | 133 | -1 | ' | -65 | 43 | ||||
Less: Net income attributable to noncontrolling interest | 9 | 0 | ' | 9 | 0 | ||||
Net income/(loss) attributable to NRG Energy, Inc. | 124 | -1 | ' | -74 | 43 | ||||
Other Comprehensive Income/(Loss), net of tax | ' | ' | ' | ' | ' | ||||
Unrealized (loss)/gain on derivatives, net | 17 | -54 | ' | 9 | -145 | ||||
Foreign currency translation adjustments, net | 1 | 1 | ' | -3 | 1 | ||||
Reclassification adjustment for translation gain realized upon sale of Schkopau, net of income tax expense of $0, $6, $0 and $6 | ' | ' | ' | ' | 0 | ||||
Available-for-sale securities, net | ' | 2 | ' | 2 | 2 | ||||
Defined benefit plan, net | ' | ' | ' | 0 | ' | ||||
Other comprehensive (loss)/income | 18 | -51 | ' | 8 | -142 | ||||
Comprehensive income/(loss) | 151 | -52 | ' | -57 | -99 | ||||
Comprehensive income attributable to noncontrolling interest | 9 | 0 | ' | 9 | 0 | ||||
Comprehensive income/(loss) attributable to NRG Energy, Inc. | 142 | -52 | ' | -66 | -99 | ||||
Dividends for preferred shares | -2 | -2 | ' | -7 | -7 | ||||
Comprehensive Income/(Loss) Available for Common Stockholders | 140 | -54 | ' | -73 | -106 | ||||
Eliminations | ' | ' | ' | ' | ' | ||||
Operating Revenues | ' | ' | ' | ' | ' | ||||
Total operating revenues | 7 | [1] | -26 | [1] | ' | -119 | [1] | -52 | [1] |
Operating Costs and Expenses | ' | ' | ' | ' | ' | ||||
Cost of operations | 3 | [1] | -23 | [1] | ' | -112 | [1] | -45 | [1] |
Depreciation and amortization | 0 | [1] | 0 | [1] | ' | 0 | [1] | 0 | [1] |
Selling, general and administrative | 4 | [1] | -3 | [1] | ' | -7 | [1] | -7 | [1] |
Acquisition-related transaction and integration costs | 0 | [1] | 0 | [1] | ' | 0 | [1] | 0 | [1] |
Development activity expenses | 0 | [1] | 0 | ' | 0 | [1] | 0 | [1] | |
Costs and Expenses | 7 | [1] | -26 | [1] | ' | -119 | [1] | -52 | [1] |
Operating Income (Loss) | 0 | [1] | 0 | [1] | ' | 0 | [1] | 0 | [1] |
Other Income/(Expense) | ' | ' | ' | ' | ' | ||||
Equity in earnings/(losses) of consolidated subsidiaries | -279 | [1] | -112 | [1] | ' | -350 | [1] | -458 | [1] |
Equity in (losses)/earnings of unconsolidated affiliates | -5 | [1] | 0 | [1] | ' | -2 | [1] | 0 | [1] |
Other income, net | -4 | [1] | 0 | [1] | ' | -6 | [1] | 0 | [1] |
Loss on debt extinguishment | 0 | [1] | 0 | [1] | ' | 0 | [1] | 0 | [1] |
Interest expense | 0 | [1] | 0 | ' | 0 | [1] | 0 | [1] | |
Total other expense | -288 | [1] | -112 | [1] | ' | -358 | [1] | -458 | [1] |
(Loss)/income before income taxes | -288 | [1] | -112 | [1] | ' | -358 | [1] | -458 | [1] |
Income tax expense/(benefit) | 0 | [1] | 0 | ' | 0 | [1] | 0 | [1] | |
Net Income/(Loss) | -288 | [1] | -112 | [1] | ' | -358 | [1] | -458 | [1] |
Less: Net income attributable to noncontrolling interest | -22 | [1] | 0 | ' | -22 | [1] | 0 | [1] | |
Net income/(loss) attributable to NRG Energy, Inc. | -266 | [1] | -112 | [1] | ' | -336 | [1] | -458 | [1] |
Other Comprehensive Income/(Loss), net of tax | ' | ' | ' | ' | ' | ||||
Unrealized (loss)/gain on derivatives, net | -12 | [1] | 68 | [1] | ' | 12 | [1] | 168 | [1] |
Foreign currency translation adjustments, net | 0 | [1] | 0 | [1] | ' | 0 | [1] | 0 | [1] |
Reclassification adjustment for translation gain realized upon sale of Schkopau, net of income tax expense of $0, $6, $0 and $6 | ' | ' | ' | ' | 0 | [1] | |||
Available-for-sale securities, net | ' | 0 | [1] | ' | 0 | [1] | 0 | [1] | |
Defined benefit plan, net | ' | ' | ' | 0 | [1] | ' | |||
Other comprehensive (loss)/income | -12 | [1] | 68 | [1] | ' | 12 | [1] | 168 | [1] |
Comprehensive income/(loss) | -300 | [1] | -44 | [1] | ' | -346 | [1] | -290 | [1] |
Comprehensive income attributable to noncontrolling interest | -20 | [1] | 0 | [1] | ' | -22 | [1] | 0 | [1] |
Comprehensive income/(loss) attributable to NRG Energy, Inc. | -280 | [1] | -44 | [1] | ' | -324 | [1] | -290 | [1] |
Dividends for preferred shares | 0 | [1] | 0 | [1] | ' | 0 | [1] | 0 | [1] |
Comprehensive Income/(Loss) Available for Common Stockholders | ($280) | [1] | ($44) | [1] | ' | ($324) | [1] | ($290) | [1] |
[1] | All significant intercompany transactions have been eliminated in consolidation. |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information (Details 3) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | ||||
In Millions, unless otherwise specified | ||||||||
Current Assets | ' | ' | ' | ' | ||||
Cash and cash equivalents | $2,129 | $2,087 | $1,610 | $1,105 | ||||
Funds deposited by counterparties | 122 | 271 | ' | ' | ||||
Restricted cash | 307 | 217 | ' | ' | ||||
Accounts receivable-trade, net | 1,366 | 1,061 | ' | ' | ||||
Inventory | 861 | 911 | ' | ' | ||||
Derivative instruments | 1,389 | 2,644 | ' | ' | ||||
Deferred income taxes | 0 | 56 | ' | ' | ||||
Cash collateral paid in support of energy risk management activities | 288 | 229 | ' | ' | ||||
Renewable energy grant receivable | 345 | 58 | ' | ' | ||||
Prepayments and other current assets | 442 | 401 | ' | ' | ||||
Total current assets | 7,249 | 7,935 | ' | ' | ||||
Net property, plant and equipment | 20,600 | 20,241 | ' | ' | ||||
Other Assets | ' | ' | ' | ' | ||||
Investment in subsidiaries | 0 | 0 | ' | ' | ||||
Equity investments in affiliates | 626 | 676 | ' | ' | ||||
Capital leases and notes receivable, less current portion | 76 | 79 | ' | ' | ||||
Goodwill | 1,953 | 1,956 | ' | ' | ||||
Intangible assets, net | 1,141 | 1,200 | ' | ' | ||||
Nuclear decommissioning trust fund | 524 | 473 | ' | ' | ||||
Deferred income taxes | 1,499 | 1,282 | ' | ' | ||||
Derivative instruments | 506 | 662 | ' | ' | ||||
Other non-current assets | 689 | 600 | ' | ' | ||||
Total other assets | 7,014 | 6,928 | ' | ' | ||||
Total assets | 34,863 | 35,104 | ' | ' | ||||
Current Liabilities | ' | ' | ' | ' | ||||
Current portion of long-term debt and capital leases | 911 | 147 | ' | ' | ||||
Accounts payable | 1,140 | 1,171 | ' | ' | ||||
Accounts payable — affiliate | 0 | 0 | ' | ' | ||||
Derivative instruments | 1,064 | 1,981 | ' | ' | ||||
Deferred income taxes | 112 | 0 | ' | ' | ||||
Cash collateral received in support of energy risk management activities | 122 | 271 | ' | ' | ||||
Accrued expenses and other current liabilities | 1,033 | 1,085 | ' | ' | ||||
Total current liabilities | 4,382 | 4,655 | ' | ' | ||||
Other Liabilities | ' | ' | ' | ' | ||||
Long-term debt and capital leases | 15,802 | 15,736 | ' | ' | ||||
Nuclear decommissioning reserve | 290 | 354 | ' | ' | ||||
Nuclear decommissioning trust liability | 303 | 273 | ' | ' | ||||
Deferred income taxes | 50 | 55 | ' | ' | ||||
Derivative instruments | 372 | 500 | ' | ' | ||||
Out-of-market contracts | 1,157 | 1,231 | ' | ' | ||||
Other non-current liabilities | 1,377 | 1,553 | ' | ' | ||||
Total non-current liabilities | 19,351 | 19,702 | ' | ' | ||||
Total Liabilities | 23,733 | 24,357 | ' | ' | ||||
3.625% convertible perpetual preferred stock | 249 | 249 | ' | ' | ||||
3.625% convertible perpetual preferred stock, interest rate (as a percentage) | 3.63% | 3.63% | 3.63% | ' | ||||
Total Stockholders' Equity | 10,881 | 10,498 | ' | ' | ||||
Total Liabilities and Stockholders' Equity | 34,863 | 35,104 | ' | ' | ||||
Guarantor Subsidiaries | ' | ' | ' | ' | ||||
Current Assets | ' | ' | ' | ' | ||||
Cash and cash equivalents | 23 | 78 | 11 | 44 | ||||
Funds deposited by counterparties | 0 | 131 | ' | ' | ||||
Restricted cash | 18 | 11 | ' | ' | ||||
Accounts receivable-trade, net | 1,132 | 807 | ' | ' | ||||
Inventory | 406 | 472 | ' | ' | ||||
Derivative instruments | 914 | 2,058 | ' | ' | ||||
Deferred income taxes | ' | -153 | ' | ' | ||||
Cash collateral paid in support of energy risk management activities | 253 | 81 | ' | ' | ||||
Renewable energy grant receivable | 0 | 0 | ' | ' | ||||
Prepayments and other current assets | 4,103 | 2,966 | ' | ' | ||||
Total current assets | 6,849 | 6,451 | ' | ' | ||||
Net property, plant and equipment | 9,651 | 9,905 | ' | ' | ||||
Other Assets | ' | ' | ' | ' | ||||
Investment in subsidiaries | 108 | 244 | ' | ' | ||||
Equity investments in affiliates | 18 | 33 | ' | ' | ||||
Capital leases and notes receivable, less current portion | 0 | 3 | ' | ' | ||||
Goodwill | 1,941 | 1,944 | ' | ' | ||||
Intangible assets, net | 988 | 1,042 | ' | ' | ||||
Nuclear decommissioning trust fund | 524 | 473 | ' | ' | ||||
Deferred income taxes | 0 | -915 | ' | ' | ||||
Derivative instruments | 202 | 149 | ' | ' | ||||
Other non-current assets | 80 | 85 | ' | ' | ||||
Total other assets | 3,861 | 3,058 | ' | ' | ||||
Total assets | 20,361 | 19,414 | ' | ' | ||||
Current Liabilities | ' | ' | ' | ' | ||||
Current portion of long-term debt and capital leases | 1 | 1 | ' | ' | ||||
Accounts payable | 678 | 541 | ' | ' | ||||
Accounts payable — affiliate | 6 | -55 | ' | ' | ||||
Derivative instruments | 887 | 1,726 | ' | ' | ||||
Deferred income taxes | 369 | ' | ' | ' | ||||
Cash collateral received in support of energy risk management activities | 0 | 131 | ' | ' | ||||
Accrued expenses and other current liabilities | 283 | 354 | ' | ' | ||||
Total current liabilities | 2,224 | 2,698 | ' | ' | ||||
Other Liabilities | ' | ' | ' | ' | ||||
Long-term debt and capital leases | 316 | 310 | ' | ' | ||||
Nuclear decommissioning reserve | 290 | 354 | ' | ' | ||||
Nuclear decommissioning trust liability | 303 | 273 | ' | ' | ||||
Deferred income taxes | 886 | 0 | ' | ' | ||||
Derivative instruments | 279 | 312 | ' | ' | ||||
Out-of-market contracts | 162 | 180 | ' | ' | ||||
Other non-current liabilities | 510 | 618 | ' | ' | ||||
Total non-current liabilities | 2,746 | 2,047 | ' | ' | ||||
Total Liabilities | 4,970 | 4,745 | ' | ' | ||||
3.625% convertible perpetual preferred stock | 0 | 0 | ' | ' | ||||
Total Stockholders' Equity | 15,391 | 14,669 | ' | ' | ||||
Total Liabilities and Stockholders' Equity | 20,361 | 19,414 | ' | ' | ||||
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ||||
Current Assets | ' | ' | ' | ' | ||||
Cash and cash equivalents | 1,110 | 1,258 | 223 | 85 | ||||
Funds deposited by counterparties | 122 | 140 | ' | ' | ||||
Restricted cash | 278 | 196 | ' | ' | ||||
Accounts receivable-trade, net | 234 | 254 | ' | ' | ||||
Inventory | 455 | 439 | ' | ' | ||||
Derivative instruments | 491 | 604 | ' | ' | ||||
Deferred income taxes | ' | 10 | ' | ' | ||||
Cash collateral paid in support of energy risk management activities | 35 | 148 | ' | ' | ||||
Renewable energy grant receivable | 344 | 58 | ' | ' | ||||
Prepayments and other current assets | 283 | -57 | ' | ' | ||||
Total current assets | 3,352 | 3,050 | ' | ' | ||||
Net property, plant and equipment | 10,822 | 10,235 | ' | ' | ||||
Other Assets | ' | ' | ' | ' | ||||
Investment in subsidiaries | -108 | -102 | ' | ' | ||||
Equity investments in affiliates | 724 | 633 | ' | ' | ||||
Capital leases and notes receivable, less current portion | 66 | 74 | ' | ' | ||||
Goodwill | 12 | 12 | ' | ' | ||||
Intangible assets, net | 172 | 177 | ' | ' | ||||
Nuclear decommissioning trust fund | 0 | 0 | ' | ' | ||||
Deferred income taxes | 784 | 1,829 | ' | ' | ||||
Derivative instruments | 307 | 515 | ' | ' | ||||
Other non-current assets | 239 | 305 | ' | ' | ||||
Total other assets | 2,196 | 3,443 | ' | ' | ||||
Total assets | 16,370 | 16,728 | ' | ' | ||||
Current Liabilities | ' | ' | ' | ' | ||||
Current portion of long-term debt and capital leases | 890 | 137 | ' | ' | ||||
Accounts payable | 436 | 584 | ' | ' | ||||
Accounts payable — affiliate | 1,973 | 1,421 | ' | ' | ||||
Derivative instruments | 193 | 271 | ' | ' | ||||
Deferred income taxes | -264 | ' | ' | ' | ||||
Cash collateral received in support of energy risk management activities | 122 | 140 | ' | ' | ||||
Accrued expenses and other current liabilities | 478 | 488 | ' | ' | ||||
Total current liabilities | 3,828 | 3,041 | ' | ' | ||||
Other Liabilities | ' | ' | ' | ' | ||||
Long-term debt and capital leases | 7,965 | 8,459 | ' | ' | ||||
Nuclear decommissioning reserve | 0 | 0 | ' | ' | ||||
Nuclear decommissioning trust liability | 0 | 0 | ' | ' | ||||
Deferred income taxes | -836 | 55 | ' | ' | ||||
Derivative instruments | 96 | 190 | ' | ' | ||||
Out-of-market contracts | 1,026 | 1,082 | ' | ' | ||||
Other non-current liabilities | 631 | 800 | ' | ' | ||||
Total non-current liabilities | 8,882 | 10,586 | ' | ' | ||||
Total Liabilities | 12,710 | 13,627 | ' | ' | ||||
3.625% convertible perpetual preferred stock | 0 | 0 | ' | ' | ||||
Total Stockholders' Equity | 3,660 | 3,101 | ' | ' | ||||
Total Liabilities and Stockholders' Equity | 16,370 | 16,728 | ' | ' | ||||
NRG Energy, Inc. | ' | ' | ' | ' | ||||
Current Assets | ' | ' | ' | ' | ||||
Cash and cash equivalents | 996 | 751 | 1,376 | 976 | ||||
Funds deposited by counterparties | 0 | 0 | ' | ' | ||||
Restricted cash | 11 | 10 | ' | ' | ||||
Accounts receivable-trade, net | 0 | 0 | ' | ' | ||||
Inventory | 0 | 0 | ' | ' | ||||
Derivative instruments | 0 | 0 | ' | ' | ||||
Deferred income taxes | ' | 199 | ' | ' | ||||
Cash collateral paid in support of energy risk management activities | 0 | 0 | ' | ' | ||||
Renewable energy grant receivable | 1 | 0 | ' | ' | ||||
Prepayments and other current assets | -3,414 | -2,518 | ' | ' | ||||
Total current assets | -2,406 | -1,558 | ' | ' | ||||
Net property, plant and equipment | 149 | 121 | ' | ' | ||||
Other Assets | ' | ' | ' | ' | ||||
Investment in subsidiaries | 18,218 | 17,655 | ' | ' | ||||
Equity investments in affiliates | 10 | 10 | ' | ' | ||||
Capital leases and notes receivable, less current portion | 255 | 531 | ' | ' | ||||
Goodwill | 0 | 0 | ' | ' | ||||
Intangible assets, net | 33 | 33 | ' | ' | ||||
Nuclear decommissioning trust fund | 0 | 0 | ' | ' | ||||
Deferred income taxes | 715 | 368 | ' | ' | ||||
Derivative instruments | 0 | 0 | ' | ' | ||||
Other non-current assets | 370 | 210 | ' | ' | ||||
Total other assets | 19,601 | 18,807 | ' | ' | ||||
Total assets | 17,344 | 17,370 | ' | ' | ||||
Current Liabilities | ' | ' | ' | ' | ||||
Current portion of long-term debt and capital leases | 20 | 15 | ' | ' | ||||
Accounts payable | 26 | 46 | ' | ' | ||||
Accounts payable — affiliate | -1,572 | -1,366 | ' | ' | ||||
Derivative instruments | 0 | 2 | ' | ' | ||||
Deferred income taxes | 7 | ' | ' | ' | ||||
Cash collateral received in support of energy risk management activities | 0 | 0 | ' | ' | ||||
Accrued expenses and other current liabilities | 272 | 243 | ' | ' | ||||
Total current liabilities | -1,247 | -1,060 | ' | ' | ||||
Other Liabilities | ' | ' | ' | ' | ||||
Long-term debt and capital leases | 7,766 | 7,496 | ' | ' | ||||
Nuclear decommissioning reserve | 0 | 0 | ' | ' | ||||
Nuclear decommissioning trust liability | 0 | 0 | ' | ' | ||||
Deferred income taxes | 0 | 0 | ' | ' | ||||
Derivative instruments | 0 | 0 | ' | ' | ||||
Out-of-market contracts | 0 | 0 | ' | ' | ||||
Other non-current liabilities | 236 | 135 | ' | ' | ||||
Total non-current liabilities | 8,002 | 7,631 | ' | ' | ||||
Total Liabilities | 6,755 | 6,571 | ' | ' | ||||
3.625% convertible perpetual preferred stock | 249 | 249 | ' | ' | ||||
3.625% convertible perpetual preferred stock, interest rate (as a percentage) | 3.63% | 3.63% | ' | ' | ||||
Total Stockholders' Equity | 10,340 | 10,550 | ' | ' | ||||
Total Liabilities and Stockholders' Equity | 17,344 | 17,370 | ' | ' | ||||
Eliminations | ' | ' | ' | ' | ||||
Current Assets | ' | ' | ' | ' | ||||
Cash and cash equivalents | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Funds deposited by counterparties | 0 | [1] | 0 | [1] | ' | ' | ||
Restricted cash | 0 | [1] | 0 | [1] | ' | ' | ||
Accounts receivable-trade, net | 0 | [1] | 0 | [1] | ' | ' | ||
Inventory | 0 | [1] | 0 | [1] | ' | ' | ||
Derivative instruments | -16 | [1] | -18 | [1] | ' | ' | ||
Deferred income taxes | ' | 0 | [1] | ' | ' | |||
Cash collateral paid in support of energy risk management activities | 0 | [1] | 0 | [1] | ' | ' | ||
Renewable energy grant receivable | 0 | 0 | [1] | ' | ' | |||
Prepayments and other current assets | -530 | [1] | 10 | [1] | ' | ' | ||
Total current assets | -546 | [1] | -8 | [1] | ' | ' | ||
Net property, plant and equipment | -22 | [1] | -20 | [1] | ' | ' | ||
Other Assets | ' | ' | ' | ' | ||||
Investment in subsidiaries | -18,218 | [1] | -17,797 | [1] | ' | ' | ||
Equity investments in affiliates | -126 | [1] | 0 | [1] | ' | ' | ||
Capital leases and notes receivable, less current portion | -245 | [1] | -529 | [1] | ' | ' | ||
Goodwill | 0 | [1] | 0 | [1] | ' | ' | ||
Intangible assets, net | -52 | [1] | -52 | [1] | ' | ' | ||
Nuclear decommissioning trust fund | 0 | [1] | 0 | [1] | ' | ' | ||
Deferred income taxes | 0 | [1] | 0 | [1] | ' | ' | ||
Derivative instruments | -3 | [1] | -2 | [1] | ' | ' | ||
Other non-current assets | 0 | [1] | 0 | [1] | ' | ' | ||
Total other assets | -18,644 | [1] | -18,380 | [1] | ' | ' | ||
Total assets | -19,212 | [1] | -18,408 | [1] | ' | ' | ||
Current Liabilities | ' | ' | ' | ' | ||||
Current portion of long-term debt and capital leases | 0 | [1] | -6 | [1] | ' | ' | ||
Accounts payable | 0 | [1] | 0 | [1] | ' | ' | ||
Accounts payable — affiliate | -407 | [1] | 0 | [1] | ' | ' | ||
Derivative instruments | -16 | [1] | -18 | [1] | ' | ' | ||
Deferred income taxes | 0 | [1] | ' | ' | ' | |||
Cash collateral received in support of energy risk management activities | 0 | [1] | 0 | [1] | ' | ' | ||
Accrued expenses and other current liabilities | 0 | [1] | 0 | [1] | ' | ' | ||
Total current liabilities | -423 | [1] | -24 | [1] | ' | ' | ||
Other Liabilities | ' | ' | ' | ' | ||||
Long-term debt and capital leases | -245 | [1] | -529 | [1] | ' | ' | ||
Nuclear decommissioning reserve | 0 | [1] | 0 | [1] | ' | ' | ||
Nuclear decommissioning trust liability | 0 | [1] | 0 | [1] | ' | ' | ||
Deferred income taxes | 0 | [1] | 0 | [1] | ' | ' | ||
Derivative instruments | -3 | [1] | -2 | [1] | ' | ' | ||
Out-of-market contracts | -31 | [1] | -31 | [1] | ' | ' | ||
Other non-current liabilities | 0 | [1] | 0 | [1] | ' | ' | ||
Total non-current liabilities | -279 | [1] | -562 | [1] | ' | ' | ||
Total Liabilities | -702 | [1] | -586 | [1] | ' | ' | ||
3.625% convertible perpetual preferred stock | 0 | [1] | 0 | [1] | ' | ' | ||
Total Stockholders' Equity | -18,510 | [1] | -17,822 | [1] | ' | ' | ||
Total Liabilities and Stockholders' Equity | ($19,212) | [1] | ($18,408) | [1] | ' | ' | ||
[1] | All significant intercompany transactions have been eliminated in consolidation. |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Information (Details 4) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Cash Flows from Operating Activities | ' | ' | ' | ' | ||||
Net Income/(Loss) | $143 | $8 | ($47) | $61 | ||||
Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | ' | ' | ' | ' | ||||
Distributions and equity in (earnings)/losses of unconsolidated affiliates and consolidated subsidiaries | ' | ' | 23 | 8 | ||||
Depreciation and amortization | 318 | 239 | 921 | 703 | ||||
Provision for bad debts | ' | ' | 49 | 40 | ||||
Amortization of nuclear fuel | ' | ' | 27 | 29 | ||||
Amortization of financing costs and debt discount/premiums | ' | ' | -22 | 25 | ||||
Adjustment to loss and loss on debt extinguishment | ' | ' | -15 | 8 | ||||
Amortization of intangibles and out-of-market contracts | ' | ' | 75 | 108 | ||||
Amortization of unearned equity compensation | ' | ' | 32 | 27 | ||||
Changes in deferred income taxes and liability for uncertain tax benefits | ' | ' | 39 | -261 | ||||
Changes in nuclear decommissioning trust liability | ' | ' | 25 | 25 | ||||
Changes in derivative instruments | ' | ' | 189 | 360 | ||||
Changes in collateral deposits supporting energy risk management activities | ' | ' | -59 | 213 | ||||
Cash used by changes in other working capital | ' | ' | -406 | -285 | ||||
Net Cash (Used)/Provided by Operating Activities | ' | ' | 823 | 1,058 | ||||
Cash Flows from Investing Activities | ' | ' | ' | ' | ||||
Intercompany loans to subsidiaries | ' | ' | 0 | 0 | ||||
Acquisitions of businesses, net of cash acquired | ' | ' | -374 | -40 | ||||
Capital expenditures | ' | ' | -1,581 | -2,474 | ||||
Increase in restricted cash, net | ' | ' | -67 | -96 | ||||
Increase in restricted cash - U.S. DOE projects | ' | ' | -20 | 151 | ||||
Decrease/(increase) in notes receivable | ' | ' | -22 | -22 | ||||
Investments in nuclear decommissioning trust fund securities | ' | ' | -369 | -341 | ||||
Proceeds from sales of nuclear decommissioning trust fund securities | ' | ' | 344 | 316 | ||||
Proceeds from renewable energy grants | ' | ' | 52 | 49 | ||||
Payments for (Proceeds from) Productive Assets | ' | ' | 13 | 137 | ||||
Other | ' | ' | -7 | -9 | ||||
Net Cash (Used)/Provided by Investing Activities | ' | ' | -2,031 | -2,329 | ||||
Cash Flows from Financing Activities | ' | ' | ' | ' | ||||
Proceeds from intercompany loans | ' | ' | 0 | 0 | ||||
Payment of intercompany dividends | ' | ' | ' | 0 | ||||
Payment of dividends to common and preferred stockholders | ' | ' | -113 | -28 | ||||
Payment for treasury stock | ' | ' | -25 | 0 | ||||
Net (payments for)/receipts from settlement of acquired derivatives that include financing elements | ' | ' | 177 | -65 | ||||
Contributions and sale proceeds from noncontrolling interest in subsidiaries | ' | ' | 504 | 316 | ||||
Proceeds from issuance of long-term debt | ' | ' | 1,605 | 2,541 | ||||
Proceeds from issuance of common stock | ' | ' | 14 | 0 | ||||
Payment of debt issuance costs | ' | ' | -43 | -30 | ||||
Payments for short and long-term debt | ' | ' | -868 | -955 | ||||
Net Cash (Used)/Provided by Financing Activities | ' | ' | 1,251 | 1,779 | ||||
Effect of exchange rate changes on cash and cash equivalents | ' | ' | -1 | -3 | ||||
Net (Decrease)/Increase in Cash and Cash Equivalents | ' | ' | 42 | 505 | ||||
Cash and Cash Equivalents at Beginning of Period | ' | ' | 2,087 | 1,105 | ||||
Cash and Cash Equivalents at End of Period | 2,129 | 1,610 | 2,129 | 1,610 | ||||
Guarantor Subsidiaries | ' | ' | ' | ' | ||||
Cash Flows from Operating Activities | ' | ' | ' | ' | ||||
Net Income/(Loss) | 184 | 73 | 333 | 310 | ||||
Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | ' | ' | ' | ' | ||||
Depreciation and amortization | 213 | 217 | 624 | 647 | ||||
Net Cash (Used)/Provided by Operating Activities | ' | ' | 1,334 | 1,942 | ||||
Cash Flows from Investing Activities | ' | ' | ' | ' | ||||
Intercompany loans to subsidiaries | ' | ' | -1,158 | -1,686 | ||||
Acquisitions of businesses, net of cash acquired | ' | ' | 0 | 0 | ||||
Capital expenditures | ' | ' | -154 | 183 | ||||
Increase in restricted cash, net | ' | ' | -7 | 2 | ||||
Increase in restricted cash - U.S. DOE projects | ' | ' | 0 | 0 | ||||
Decrease/(increase) in notes receivable | ' | ' | 2 | 0 | ||||
Investments in nuclear decommissioning trust fund securities | ' | ' | -369 | 341 | ||||
Proceeds from sales of nuclear decommissioning trust fund securities | ' | ' | 344 | 316 | ||||
Proceeds from renewable energy grants | ' | ' | 0 | 3 | ||||
Payments for (Proceeds from) Productive Assets | ' | ' | 13 | 133 | ||||
Other | ' | ' | 7 | -13 | ||||
Net Cash (Used)/Provided by Investing Activities | ' | ' | -1,322 | -1,747 | ||||
Cash Flows from Financing Activities | ' | ' | ' | ' | ||||
Proceeds from intercompany loans | ' | ' | 0 | 0 | ||||
Payment of intercompany dividends | ' | ' | ' | 172 | ||||
Payment of dividends to common and preferred stockholders | ' | ' | 0 | 0 | ||||
Payment for treasury stock | ' | ' | 0 | ' | ||||
Net (payments for)/receipts from settlement of acquired derivatives that include financing elements | ' | ' | -67 | 65 | ||||
Contributions and sale proceeds from noncontrolling interest in subsidiaries | ' | ' | 0 | 0 | ||||
Proceeds from issuance of long-term debt | ' | ' | 0 | 9 | ||||
Proceeds from issuance of common stock | ' | ' | 0 | ' | ||||
Payment of debt issuance costs | ' | ' | 0 | 0 | ||||
Payments for short and long-term debt | ' | ' | 0 | 0 | ||||
Net Cash (Used)/Provided by Financing Activities | ' | ' | -67 | -228 | ||||
Effect of exchange rate changes on cash and cash equivalents | ' | ' | 0 | 0 | ||||
Net (Decrease)/Increase in Cash and Cash Equivalents | ' | ' | -55 | -33 | ||||
Cash and Cash Equivalents at Beginning of Period | ' | ' | 78 | 44 | ||||
Cash and Cash Equivalents at End of Period | 23 | 11 | 23 | 11 | ||||
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ||||
Cash Flows from Operating Activities | ' | ' | ' | ' | ||||
Net Income/(Loss) | 114 | 48 | 43 | 166 | ||||
Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | ' | ' | ' | ' | ||||
Depreciation and amortization | 102 | 20 | 288 | 48 | ||||
Net Cash (Used)/Provided by Operating Activities | ' | ' | 135 | 177 | ||||
Cash Flows from Investing Activities | ' | ' | ' | ' | ||||
Intercompany loans to subsidiaries | ' | ' | 4 | 416 | ||||
Acquisitions of businesses, net of cash acquired | ' | ' | -59 | -17 | ||||
Capital expenditures | ' | ' | -1,388 | 2,241 | ||||
Increase in restricted cash, net | ' | ' | -61 | 94 | ||||
Increase in restricted cash - U.S. DOE projects | ' | ' | -18 | -113 | ||||
Decrease/(increase) in notes receivable | ' | ' | -16 | -20 | ||||
Investments in nuclear decommissioning trust fund securities | ' | ' | 0 | 0 | ||||
Proceeds from sales of nuclear decommissioning trust fund securities | ' | ' | 0 | 0 | ||||
Proceeds from renewable energy grants | ' | ' | 52 | 46 | ||||
Payments for (Proceeds from) Productive Assets | ' | ' | 0 | 0 | ||||
Other | ' | ' | -1 | 8 | ||||
Net Cash (Used)/Provided by Investing Activities | ' | ' | -1,487 | -1,805 | ||||
Cash Flows from Financing Activities | ' | ' | ' | ' | ||||
Proceeds from intercompany loans | ' | ' | 0 | 0 | ||||
Payment of intercompany dividends | ' | ' | ' | 6 | ||||
Payment of dividends to common and preferred stockholders | ' | ' | 0 | 0 | ||||
Payment for treasury stock | ' | ' | 0 | ' | ||||
Net (payments for)/receipts from settlement of acquired derivatives that include financing elements | ' | ' | 244 | 0 | ||||
Contributions and sale proceeds from noncontrolling interest in subsidiaries | ' | ' | 504 | 316 | ||||
Proceeds from issuance of long-term debt | ' | ' | 1,120 | 1,526 | ||||
Proceeds from issuance of common stock | ' | ' | 0 | ' | ||||
Payment of debt issuance costs | ' | ' | -9 | 16 | ||||
Payments for short and long-term debt | ' | ' | -654 | -51 | ||||
Net Cash (Used)/Provided by Financing Activities | ' | ' | 1,205 | 1,769 | ||||
Effect of exchange rate changes on cash and cash equivalents | ' | ' | -1 | -3 | ||||
Net (Decrease)/Increase in Cash and Cash Equivalents | ' | ' | -148 | 138 | ||||
Cash and Cash Equivalents at Beginning of Period | ' | ' | 1,258 | 85 | ||||
Cash and Cash Equivalents at End of Period | 1,110 | 223 | 1,110 | 223 | ||||
NRG Energy, Inc. | ' | ' | ' | ' | ||||
Cash Flows from Operating Activities | ' | ' | ' | ' | ||||
Net Income/(Loss) | 133 | -1 | -65 | 43 | ||||
Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | ' | ' | ' | ' | ||||
Depreciation and amortization | 3 | 2 | 9 | 8 | ||||
Net Cash (Used)/Provided by Operating Activities | ' | ' | -1,800 | -883 | ||||
Cash Flows from Investing Activities | ' | ' | ' | ' | ||||
Intercompany loans to subsidiaries | ' | ' | 1,154 | 0 | ||||
Acquisitions of businesses, net of cash acquired | ' | ' | -315 | -23 | ||||
Capital expenditures | ' | ' | -39 | 50 | ||||
Increase in restricted cash, net | ' | ' | 1 | 0 | ||||
Increase in restricted cash - U.S. DOE projects | ' | ' | -2 | -38 | ||||
Decrease/(increase) in notes receivable | ' | ' | -8 | -2 | ||||
Investments in nuclear decommissioning trust fund securities | ' | ' | 0 | 0 | ||||
Proceeds from sales of nuclear decommissioning trust fund securities | ' | ' | 0 | 0 | ||||
Proceeds from renewable energy grants | ' | ' | 0 | 0 | ||||
Payments for (Proceeds from) Productive Assets | ' | ' | 0 | 4 | ||||
Other | ' | ' | -13 | 14 | ||||
Net Cash (Used)/Provided by Investing Activities | ' | ' | 778 | -47 | ||||
Cash Flows from Financing Activities | ' | ' | ' | ' | ||||
Proceeds from intercompany loans | ' | ' | 1,154 | 1,270 | ||||
Payment of intercompany dividends | ' | ' | ' | 0 | ||||
Payment of dividends to common and preferred stockholders | ' | ' | -113 | 28 | ||||
Payment for treasury stock | ' | ' | -25 | ' | ||||
Net (payments for)/receipts from settlement of acquired derivatives that include financing elements | ' | ' | 0 | 0 | ||||
Contributions and sale proceeds from noncontrolling interest in subsidiaries | ' | ' | 0 | 0 | ||||
Proceeds from issuance of long-term debt | ' | ' | 485 | 1,006 | ||||
Proceeds from issuance of common stock | ' | ' | 14 | ' | ||||
Payment of debt issuance costs | ' | ' | -34 | 14 | ||||
Payments for short and long-term debt | ' | ' | -214 | -904 | ||||
Net Cash (Used)/Provided by Financing Activities | ' | ' | 1,267 | 1,330 | ||||
Effect of exchange rate changes on cash and cash equivalents | ' | ' | 0 | 0 | ||||
Net (Decrease)/Increase in Cash and Cash Equivalents | ' | ' | 245 | 400 | ||||
Cash and Cash Equivalents at Beginning of Period | ' | ' | 751 | 976 | ||||
Cash and Cash Equivalents at End of Period | 996 | 1,376 | 996 | 1,376 | ||||
Eliminations | ' | ' | ' | ' | ||||
Cash Flows from Operating Activities | ' | ' | ' | ' | ||||
Net Income/(Loss) | -288 | [1] | -112 | [1] | -358 | [1] | -458 | [1] |
Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | ' | ' | ' | ' | ||||
Depreciation and amortization | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Net Cash (Used)/Provided by Operating Activities | ' | ' | 1,154 | [1] | -178 | [1] | ||
Cash Flows from Investing Activities | ' | ' | ' | ' | ||||
Intercompany loans to subsidiaries | ' | ' | 0 | [1] | 1,270 | [1] | ||
Acquisitions of businesses, net of cash acquired | ' | ' | 0 | [1] | 0 | [1] | ||
Capital expenditures | ' | ' | 0 | [1] | 0 | [1] | ||
Increase in restricted cash, net | ' | ' | 0 | [1] | 0 | [1] | ||
Increase in restricted cash - U.S. DOE projects | ' | ' | 0 | [1] | 0 | [1] | ||
Decrease/(increase) in notes receivable | ' | ' | 0 | [1] | 0 | [1] | ||
Investments in nuclear decommissioning trust fund securities | ' | ' | 0 | [1] | 0 | [1] | ||
Proceeds from sales of nuclear decommissioning trust fund securities | ' | ' | 0 | [1] | 0 | [1] | ||
Proceeds from renewable energy grants | ' | ' | 0 | [1] | 0 | [1] | ||
Payments for (Proceeds from) Productive Assets | ' | ' | 0 | [1] | 0 | [1] | ||
Other | ' | ' | 0 | [1] | 0 | [1] | ||
Net Cash (Used)/Provided by Investing Activities | ' | ' | 0 | [1] | 1,270 | [1] | ||
Cash Flows from Financing Activities | ' | ' | ' | ' | ||||
Proceeds from intercompany loans | ' | ' | -1,154 | [1] | -1,270 | [1] | ||
Payment of intercompany dividends | ' | ' | ' | -178 | [1] | |||
Payment of dividends to common and preferred stockholders | ' | ' | 0 | [1] | 0 | [1] | ||
Payment for treasury stock | ' | ' | 0 | [1] | ' | |||
Net (payments for)/receipts from settlement of acquired derivatives that include financing elements | ' | ' | 0 | [1] | 0 | [1] | ||
Contributions and sale proceeds from noncontrolling interest in subsidiaries | ' | ' | 0 | [1] | 0 | [1] | ||
Proceeds from issuance of long-term debt | ' | ' | 0 | [1] | 0 | [1] | ||
Proceeds from issuance of common stock | ' | ' | 0 | ' | ||||
Payment of debt issuance costs | ' | ' | 0 | [1] | 0 | [1] | ||
Payments for short and long-term debt | ' | ' | 0 | [1] | 0 | [1] | ||
Net Cash (Used)/Provided by Financing Activities | ' | ' | -1,154 | [1] | -1,092 | [1] | ||
Effect of exchange rate changes on cash and cash equivalents | ' | ' | 0 | [1] | 0 | [1] | ||
Net (Decrease)/Increase in Cash and Cash Equivalents | ' | ' | 0 | [1] | 0 | [1] | ||
Cash and Cash Equivalents at Beginning of Period | ' | ' | 0 | [1] | 0 | [1] | ||
Cash and Cash Equivalents at End of Period | $0 | [1] | $0 | [1] | $0 | [1] | $0 | [1] |
[1] | All significant intercompany transactions have been eliminated in consolidation. |