Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 31, 2017 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | NRG Yield, Inc. | |
Entity Central Index Key | 1,567,683 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | Yes | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 34,586,250 | |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 42,738,750 | |
Common Class C [Member] | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 64,717,087 | |
Common Class D [Member] | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 42,738,750 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||||
Operating Revenues | |||||||
Total operating revenues | $ 265 | $ 272 | [1] | $ 767 | $ 789 | [1] | |
Operating Costs and Expenses | |||||||
Cost of operations | 78 | 76 | [1] | 239 | 238 | [1] | |
Depreciation and amortization | 88 | 75 | [1] | 241 | 224 | [1] | |
General and administrative | 4 | 4 | [1] | 14 | 10 | [1] | |
Acquisition-related transaction and integration costs | 0 | 0 | [1] | 2 | 0 | [1] | |
Total operating costs and expenses | 170 | 155 | [1] | 496 | 472 | [1] | |
Operating Income | 95 | 117 | [1] | 271 | 317 | [1] | |
Other Income (Expense) | |||||||
Equity in earnings of unconsolidated affiliates | 28 | 16 | [1] | 63 | 34 | [1] | |
Other income, net | 1 | 1 | [1] | 3 | 3 | [1] | |
Interest expense | (75) | (71) | [1] | (237) | (213) | [1] | |
Total other expense, net | (46) | (54) | [1] | (171) | (176) | [1] | |
Income Before Income Taxes | 49 | 63 | [1] | 100 | 141 | [1] | |
Income tax expense | 8 | 13 | [1] | 15 | 25 | [1] | |
Net Income | 41 | 50 | [1],[2] | 85 | 116 | [1],[2] | |
Less: Pre-acquisition net income of Drop Down Assets | 1 | 11 | [2] | 18 | 20 | [1],[2] | |
Net Income Excluding Pre-acquisition Net Income of Drop Down Assets | 40 | 39 | [1] | 67 | 96 | [1] | |
Less: Net Income attributable to noncontrolling interests | 11 | 6 | [1] | 13 | 26 | [1] | |
Net Income Attributable to NRG Yield, Inc. | $ 29 | 33 | [1] | 54 | 70 | [1] | |
Earnings Per Share Attributable to NRG Yield, Inc. Class A and Class C Common Stockholders | |||||||
Dividends Per Common Share, Cash Paid | $ 0.28 | ||||||
Common Class C [Member] | |||||||
Other Income (Expense) | |||||||
Net Income Attributable to NRG Yield, Inc. | [3] | $ 19 | $ 21 | $ 35 | $ 45 | ||
Earnings Per Share Attributable to NRG Yield, Inc. Class A and Class C Common Stockholders | |||||||
Weighted Average Number of Shares Outstanding, Basic | [3] | 64 | 63 | 63 | 63 | ||
Weighted average number of Class A common shares outstanding - diluted | [3] | 75 | 73 | 63 | 63 | ||
Earnings Per Share, Basic | [3] | $ 0.30 | $ 0.34 | $ 0.56 | $ 0.72 | ||
Earnings per Weighted Average Class A Common Share - Diluted | [3] | 0.29 | 0.32 | 0.56 | 0.72 | ||
Dividends Per Common Share, Cash Paid | $ 0.28 | $ 0.24 | [1] | $ 0.81 | $ 0.70 | [1] | |
Common Class A [Member] | |||||||
Other Income (Expense) | |||||||
Net Income Attributable to NRG Yield, Inc. | [3] | $ 10 | $ 12 | $ 19 | $ 25 | ||
Earnings Per Share Attributable to NRG Yield, Inc. Class A and Class C Common Stockholders | |||||||
Weighted Average Number of Shares Outstanding, Basic | [3] | 35 | 35 | 35 | 35 | ||
Weighted average number of Class A common shares outstanding - diluted | [3] | 49 | 49 | 35 | 49 | ||
Earnings Per Share, Basic | [3] | $ 0.30 | $ 0.34 | $ 0.56 | $ 0.72 | ||
Earnings per Weighted Average Class A Common Share - Diluted | [3] | 0.27 | 0.30 | 0.56 | 0.68 | ||
Dividends Per Common Share, Cash Paid | $ 0.28 | $ 0.24 | [1] | $ 0.81 | $ 0.70 | [1] | |
[1] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[2] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[3] | (a) Basic and diluted earnings per share might not recalculate due to presenting values in millions rather than whole dollars. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017 | Sep. 30, 2016 | [2] | Sep. 30, 2017 | Sep. 30, 2016 | [2] | |
Net income | $ 41 | $ 50 | [1] | $ 85 | $ 116 | [1] |
Other Comprehensive Gain (Loss), net of tax | ||||||
Unrealized gain (loss) on derivatives, net of income tax benefit of $0, $1, $0 and $13 | 7 | 21 | 7 | (36) | ||
Other comprehensive gain (loss) | 7 | 21 | 7 | (36) | ||
Comprehensive Income | 48 | 71 | 92 | 80 | ||
Less: Pre-acquisition net income of Drop Down Assets | 1 | 11 | 18 | 20 | [1] | |
Less: Comprehensive income attributable to noncontrolling interests | 17 | 28 | 19 | 11 | ||
Comprehensive Income Attributable to NRG Yield, Inc. | $ 30 | $ 32 | $ 55 | $ 49 | ||
[1] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||
[2] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized gain/loss on derivatives, income tax expense /(benefit) | $ 0 | $ (1) | $ 0 | $ (13) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash and cash equivalents | $ 179,000,000 | $ 322,000,000 |
Restricted cash | 140,000,000 | 165,000,000 |
Accounts receivable — trade | 126,000,000 | 92,000,000 |
Inventory | 38,000,000 | 39,000,000 |
Derivative instruments | 0 | 2,000,000 |
Notes receivable | 15,000,000 | 16,000,000 |
Prepayments and other current assets | 22,000,000 | 20,000,000 |
Total current assets | 520,000,000 | 656,000,000 |
Property, plant and equipment, net | 5,247,000,000 | 5,460,000,000 |
Other Assets | ||
Equity investments in affiliates | 1,183,000,000 | 1,152,000,000 |
Intangible assets, net | 1,234,000,000 | 1,286,000,000 |
Derivative instruments | 0 | 1,000,000 |
Deferred income taxes | 202,000,000 | 216,000,000 |
Other non-current assets | 56,000,000 | 65,000,000 |
Total other assets | 2,675,000,000 | 2,720,000,000 |
Total Assets | 8,442,000,000 | 8,836,000,000 |
Current Liabilities | ||
Current portion of long-term debt | 300,000,000 | 291,000,000 |
Accounts payable — trade | 27,000,000 | 23,000,000 |
Accounts payable — affiliate | 45,000,000 | 40,000,000 |
Derivative instruments | 23,000,000 | 32,000,000 |
Accrued expenses and other current liabilities | 95,000,000 | 86,000,000 |
Total current liabilities | 490,000,000 | 472,000,000 |
Other Liabilities | ||
Long-term debt | 5,520,000,000 | 5,696,000,000 |
Due to Related Parties, Noncurrent | 3,000,000 | 9,000,000 |
Derivative instruments | 43,000,000 | 44,000,000 |
Other non-current liabilities | 87,000,000 | 76,000,000 |
Total non-current liabilities | 5,653,000,000 | 5,825,000,000 |
Total Liabilities | 6,143,000,000 | 6,297,000,000 |
Commitments and Contingencies | 0 | 0 |
Stockholders' Equity | ||
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued | 0 | 0 |
Class A, Class B, Class C and Class D common stock, $0.01 par value; 3,000,000,000 shares authorized (Class A 500,000,000, Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 184,780,837 shares issued and outstanding (Class A 34,586,250, Class B 42,738,750, Class C 64,717,087, Class D 42,738,750) at September 30, 2017 and 182,848,000 shares issued and outstanding (Class A 34,586,250, Class B 42,738,750, Class C 62,784,250, Class D 42,738,750) at December 31, 2016 | 1,000,000 | 1,000,000 |
Additional paid-in capital | 1,864,000,000 | 1,879,000,000 |
Retained Earnings (Accumulated deficit) | 24,000,000 | (2,000,000) |
Accumulated other comprehensive loss | (27,000,000) | (28,000,000) |
Noncontrolling interest | 437,000,000 | 689,000,000 |
Total Stockholders' Equity | 2,299,000,000 | 2,539,000,000 |
Total Liabilities and Stockholders' Equity | $ 8,442,000,000 | $ 8,836,000,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Commitments and Contingencies | $ 0 | $ 0 |
Common Class A [Member] | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 34,586,250 | 34,586,250 |
Preferred Stock [Member] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Class B [Member] | ||
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 42,738,750 | 42,738,750 |
Common Class C [Member] | ||
Common Stock, Shares Authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, Shares, Issued | 64,717,087 | 62,784,250 |
Common Class D [Member] | ||
Common Stock, Shares Authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, Shares, Issued | 42,738,750 | 42,738,750 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | ||
Cash Flows from Operating Activities | |||
Net income | $ 85 | $ 116 | [1],[2] |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Equity in earnings of unconsolidated affiliates | (63) | (34) | [1] |
Distributions from unconsolidated affiliates | 52 | 43 | [3] |
Depreciation and amortization | 241 | 224 | [3] |
Amortization of financing costs and debt discounts | 18 | 15 | [3] |
Amortization of intangibles and out-of-market contracts | 52 | 57 | [3] |
Changes in deferred income taxes | 15 | 25 | [3] |
Changes in derivative instruments | (2) | (5) | [3] |
Loss on disposal of asset components | 8 | 5 | [3] |
Changes in prepaid and accrued liabilities for tolling agreements | 5 | 2 | [3] |
Changes in other working capital | (37) | (5) | [3] |
Net Cash Provided by Operating Activities | 374 | 443 | [3] |
Cash Flows from Investing Activities | |||
Payments for the Drop Down Assets | 176 | 77 | [3] |
Capital expenditures | (23) | (16) | [3] |
Cash receipts from notes receivable | 11 | 11 | [3] |
Return of investment from unconsolidated affiliates | 32 | 16 | [3] |
Investments in unconsolidated affiliates | (48) | (69) | [3] |
Net Cash Used in Investing Activities | (204) | (135) | [3] |
Cash Flows from Financing Activities | |||
Net contributions from noncontrolling interests | 13 | 7 | [3] |
Net distributions and return of capital to NRG prior to the acquisition of Drop Down Assets | (49) | (126) | [3] |
Net proceeds from the issuance of common stock | 34 | 0 | [3] |
Payments of dividends and distributions | (149) | (127) | [3] |
Payments of debt issuance costs | 4 | 6 | [3] |
Proceeds from the revolving credit facility | 0 | 60 | [3] |
Payments for the revolving credit facility | 0 | 366 | [3] |
Proceeds from the issuance of long-term debt | 41 | 550 | [3] |
Payments for long-term debt | (224) | (204) | [3] |
Net Cash Used in Financing Activities | (338) | (212) | [3] |
Net Decrease in Cash, Cash Equivalents and Restricted Cash | (168) | 96 | [3] |
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 487 | 242 | [3] |
Cash, Cash Equivalents and Restricted Cash at End of Period | $ 319 | $ 338 | [3] |
[1] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||
[2] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||
[3] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Nature of Business
Nature of Business | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | Nature of Business NRG Yield, Inc., together with its consolidated subsidiaries, or the Company, is a dividend growth-oriented company formed to serve as the primary vehicle through which NRG owns, operates and acquires contracted renewable and conventional generation and thermal infrastructure assets. The Company believes it is well positioned to be a premier company for investors seeking stable and growing dividend income from a diversified portfolio of lower-risk, high-quality assets. NRG Yield, Inc. owns 100% of the Class A units and Class C units of NRG Yield LLC, including a controlling interest through its position as managing member. The Company owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the U.S. The Company’s contracted generation portfolio collectively represents 5,080 net MW as of September 30, 2017 . Each of these assets sells substantially all of its output pursuant to long-term offtake agreements with creditworthy counterparties. The weighted average remaining contract duration of these offtake agreements was approximately 16 years as of September 30, 2017 based on CAFD. The Company also owns thermal infrastructure assets with an aggregate steam and chilled water capacity of 1,319 net MWt and electric generation capacity of 123 net MW. These thermal infrastructure assets provide steam, hot and/or chilled water, and, in some instances, electricity to commercial businesses, universities, hospitals and governmental units in multiple locations, principally through long-term contracts or pursuant to rates regulated by state utility commissions. NRG Yield, Inc. consolidates the results of NRG Yield LLC through its controlling interest, with NRG's interest shown as noncontrolling interest in the financial statements. The holders of NRG Yield, Inc.'s outstanding shares of Class A and Class C common stock are entitled to dividends as declared. NRG receives its distributions from NRG Yield LLC through its ownership of NRG Yield LLC Class B and Class D units. The following table represents the structure of the Company as of September 30, 2017 : On July 12, 2017, NRG announced that it had adopted and initiated a three-year, three-part improvement plan, or the NRG Transformation Plan. As part of the NRG Transformation Plan, NRG announced that it is exploring strategic alternatives for its renewables platform and its interest in the Company. NRG, through its holdings of Class B common stock and Class D common stock, has a 55.1% voting interest in the Company and receives distributions from NRG Yield LLC through its ownership of Class B units and Class D units. NRG stated that the strategic alternatives span a variety of ownership structures and partnership types, including the potential partial or full monetization of NRG's renewables platform and NRG's interest in the Company. NRG is the Company's controlling stockholder and the Company has been highly dependent on NRG for, among other things, growth opportunities and management and administration services. See Part I, Item 1A, Risk Factors in the Company's 2016 Form 10-K, as well as Part II, Item 1A, Risk Factors in the Company's Form 10-Q for the quarter ended June 30, 2017, for risks related to the NRG Transformation Plan and the Company's relationship with NRG. As of September 30, 2017 , the Company's operating assets are comprised of the following projects: Projects Percentage Ownership Net Capacity (MW) (a) Offtake Counterparty Expiration Conventional El Segundo 100 % 550 Southern California Edison 2023 GenConn Devon 50 % 95 Connecticut Light & Power 2040 GenConn Middletown 50 % 95 Connecticut Light & Power 2041 Marsh Landing 100 % 720 Pacific Gas and Electric 2023 Walnut Creek 100 % 485 Southern California Edison 2023 1,945 Utility Scale Solar Agua Caliente 16 % 46 Pacific Gas and Electric 2039 Alpine 100 % 66 Pacific Gas and Electric 2033 Avenal 50 % 23 Pacific Gas and Electric 2031 Avra Valley 100 % 26 Tucson Electric Power 2032 Blythe 100 % 21 Southern California Edison 2029 Borrego 100 % 26 San Diego Gas and Electric 2038 CVSR 100 % 250 Pacific Gas and Electric 2038 Desert Sunlight 250 25 % 63 Southern California Edison 2035 Desert Sunlight 300 25 % 75 Pacific Gas and Electric 2040 Kansas South 100 % 20 Pacific Gas and Electric 2033 Roadrunner 100 % 20 El Paso Electric 2031 TA High Desert 100 % 20 Southern California Edison 2033 Utah Solar Portfolio (b) (e) 50 % 265 PacifiCorp 2036 921 Distributed Solar Apple I LLC Projects 100 % 9 Various 2032 AZ DG Solar Projects 100 % 5 Various 2025 - 2033 14 Wind Alta I 100 % 150 Southern California Edison 2035 Alta II 100 % 150 Southern California Edison 2035 Alta III 100 % 150 Southern California Edison 2035 Alta IV 100 % 102 Southern California Edison 2035 Alta V 100 % 168 Southern California Edison 2035 Alta X (b) 100 % 137 Southern California Edison 2038 Alta XI (b) 100 % 90 Southern California Edison 2038 Buffalo Bear 100 % 19 Western Farmers Electric Co-operative 2033 Crosswinds (b) (f) 99 % 21 Corn Belt Power Cooperative 2027 Elbow Creek (b) (f) 100 % 122 NRG Power Marketing LLC 2022 Elkhorn Ridge (b) (f) 66.7 % 54 Nebraska Public Power District 2029 Forward (b) (f) 100 % 29 Constellation NewEnergy, Inc. 2017 Goat Wind (b) (f) 100 % 150 Dow Pipeline Company 2025 Hardin (b) (f) 99 % 15 Interstate Power and Light Company 2027 Laredo Ridge 100 % 80 Nebraska Public Power District 2031 Lookout (b) (f) 100 % 38 Southern Maryland Electric Cooperative 2030 Projects Percentage Ownership Net Capacity (MW) (a) Offtake Counterparty Expiration Odin (b) (f) 99.9 % 20 Missouri River Energy Services 2028 Pinnacle 100 % 55 Maryland Department of General Services and University System of Maryland 2031 San Juan Mesa (b) (f) 75 % 90 Southwestern Public Service Company 2025 Sleeping Bear (b) (f) 100 % 95 Public Service Company of Oklahoma 2032 South Trent 100 % 101 AEP Energy Partners 2029 Spanish Fork (b) (f) 100 % 19 PacifiCorp 2028 Spring Canyon II (b) 90.1 % 29 Platte River Power Authority 2039 Spring Canyon III (b) 90.1 % 25 Platte River Power Authority 2039 Taloga 100 % 130 Oklahoma Gas & Electric 2031 Wildorado (b) (f) 100 % 161 Southwestern Public Service Company 2027 2,200 Thermal NRG Dover Energy Center LLC 100 % 103 NRG Power Marketing LLC 2018 Thermal generation 100 % 20 Various Various 123 Total net generation capacity (c) 5,203 Thermal equivalent MWt (d) 100 % 1,319 Various Various (a) Net capacity represents the maximum, or rated, generating capacity of the facility multiplied by the Company's percentage ownership in the facility as of September 30, 2017 . (b) Projects are part of tax equity arrangements. (c) The Company's total generation capacity is net of 6 MWs for noncontrolling interest for Spring Canyon II and III. The Company's generation capacity including this noncontrolling interest was 5,209 MWs. (d) For thermal energy, net capacity represents MWt for steam or chilled water and excludes 134 MWt available under the right-to-use provisions contained in agreements between two of the Company's thermal facilities and certain of its customers. (e) Represents interests in Four Brothers Solar, LLC, Granite Mountain Holdings, LLC, and Iron Springs Holdings, LLC, all acquired as part of the March 2017 Drop Down Assets (ownership percentage is based upon cash to be distributed). (f) Projects are part of NRG Wind TE Holdco portfolio. In addition to the facilities owned or leased in the table above, the Company entered into partnerships to own or purchase solar power generation projects, as well as other ancillary related assets from a related party via intermediate funds. The Company does not consolidate these partnerships and accounts for them as equity method investments. The Company's net interest in these projects is 226 MW based on cash to be distributed as of September 30, 2017 . For further discussions, refer to Note 4 , Investments Accounted for by the Equity Method and Variable Interest Entities of this Form 10-Q and Note 5 , Investments Accounted for by the Equity Method and Variable Interest Entities to the consolidated financial statements for the year ended December 31, 2016 included in the Company's May 9, 2017 Form 8-K. Substantially all of the Company's generation assets are under long-term contractual arrangements for the output or capacity from these assets. The thermal assets are comprised of district energy systems and combined heat and power plants that produce steam, hot water and/or chilled water and, in some instances, electricity at a central plant. Certain district energy systems are subject to rate regulation by state public utility commissions (although they may negotiate certain rates) while the other district energy systems have rates determined by negotiated bilateral contracts. As described in Note 3 , Business Acquisitions , on August 1, 2017, the Company acquired the remaining 25% interest in NRG Wind TE Holdco, a portfolio of 12 wind projects, referred to as the August 2017 Drop Down Assets, from NRG for total cash consideration of $ 44 million , including working capital adjustment of $3 million . The purchase agreement also included potential additional payments to NRG dependent upon actual energy prices for merchant periods beginning in 2027, which were estimated and accrued as contingent consideration in the amount of $8 million as of September 30, 2017. On March 27, 2017, the Company acquired the following interests from NRG, referred to as the March 2017 Drop Down Assets: (i) Agua Caliente Borrower 2 LLC, which owns a 16% interest in the Agua Caliente solar farm, one of the ROFO assets and (ii) NRG's interests in seven utility-scale solar farms located in Utah that were part of NRG's November 2, 2016 acquisition of projects from SunEdison, or the Utah Solar Portfolio. The Company paid total cash consideration of $130 million , plus a $2 million working capital adjustment, and assumed non-recourse debt of $ 328 million , which is consolidated, as well as its pro-rata share of non-recourse project-level debt of $135 million . The acquisition was funded with cash on hand. The acquisitions of the August 2017 Drop Down Assets and March 2017 Drop Down Assets were accounted for as transfers of entities under common control. The accounting guidance requires retrospective combination of the entities for all periods presented as if the combinations had been in effect from the beginning of the financial statement period or from the date the entities were under common control (if later than the beginning of the financial statement period). In connection with the acquisition of the March 2017 Drop Down Assets, the Company filed the May 9, 2017 Form 8-K to recast the financial statements included in its 2016 Form 10-K for all periods presented in the following sections: Part II, Item 6. Selected Financial Data, Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, and Part IV, Item 15. Exhibits, Financial Statement Schedules. The recast of the Company's financial statements for the August 2017 and March 2017 Drop Down Assets did not affect the historical net income attributable to NRG Yield, Inc.'s weighted average number of shares outstanding, earnings per share or dividends. The accompanying unaudited interim 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 GAAP 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 consolidated financial statements for the year ended December 31, 2016 included in the Company's May 9, 2017 Form 8-K. Interim results are not necessarily indicative of results for a full year. In the opinion of management, the accompanying unaudited interim 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, 2017 , and the results of operations, comprehensive income (loss) and cash flows for the three and nine months ended September 30, 2017 and 2016 . |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could be different from these estimates. Accumulated Depreciation, Accumulated Amortization The following table presents the accumulated depreciation included in the property, plant and equipment, net, and accumulated amortization included in intangible assets, net, respectively, as of September 30, 2017 and December 31, 2016 : September 30, 2017 December 31, 2016 (In millions) Property, Plant and Equipment Accumulated Depreciation $ 1,189 $ 951 Intangible Assets Accumulated Amortization 216 163 Noncontrolling Interests Stockholders' equity represents the equity associated with the Class A and Class C common stockholders, the equity associated with the Class B and Class D common stockholder, NRG, and the third-party interests under certain tax equity arrangements are classified as noncontrolling interests. The following table reflects the changes in the Company's noncontrolling interest balance: (In millions) Balance as of December 31, 2016 $ 689 Capital contributions from tax equity investors, net of distributions 11 Payment for the March 2017 and August 2017 Drop Down Assets (176 ) Pre-acquisition net income of Drop Down Assets 18 Comprehensive income 19 Distributions to NRG for Drop Down Assets, net of contributions (47 ) August 2017 Drop Down Assets contingent consideration (8 ) NRG Yield LLC distributions to NRG (69 ) Balance as of September 30, 2017 $ 437 Distributions to NRG for Drop Down Assets, net of contributions Distributions and contributions to and from NRG for Drop Down Assets relate primarily to NRG's interests in the August 2017 and March 2017 Drop Down Assets prior to the acquisition by the Company. This amount includes cash and non-cash distributions and includes a distribution to NRG from Agua Caliente Borrower 2 LLC following the issuance of the Agua Caliente Holdco financing, as described in Note 7 , Long-term Debt . NRG Yield LLC Distributions to NRG The following table lists the distributions paid to NRG on NRG Yield LLC's Class B and D units during the nine months ended September 30, 2017 : Third Quarter 2017 Second Quarter 2017 First Quarter 2017 Distributions per Class B Unit $ 0.28 $ 0.27 $ 0.26 Distributions per Class D Unit $ 0.28 $ 0.27 $ 0.26 On October 31, 2017 , NRG Yield LLC declared a distribution on its Class A, Class B, Class C and Class D units of $0.288 per unit payable on December 15, 2017 to unit holders of record as of December 1, 2017 . Income Taxes NRG Yield, Inc. is included in certain NRG consolidated unitary state tax return filings which is reflected in NRG Yield, Inc.'s state effective tax rate. If NRG Yield, Inc. filed under a separate standalone methodology, there would be an additional state tax expense of approximately $1 million as of September 30, 2017 due to a change in the NRG Yield, Inc. state effective tax rate. Reclassifications Certain prior-year amounts have been reclassified for comparative purposes. Recent Accounting Developments ASU 2017-12 — In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) , Targeted Improvements to Accounting for Hedging Activities, or ASU No. 2017-12. ASU No. 2017-12 amends ASU No. 2016-15. The amendments of ASU No. 2016-15 were issued to simplify the application of hedge accounting guidance and more closely aligning financial reporting for hedging relationships with economic results of an entity's risk management activities. The issues addressed by ASU No. 2017-12 include but are not limited to alignment of risk management activities and financial reporting, risk component hedging, accounting for the hedged item in fair value hedges of interest rate risk, recognition and presentation of the effects of hedging instruments, amounts excluded from the assessment of hedge effectiveness, and other simplifications of hedge accounting guidance. The amendments of ASU No. 2017-12 are effective for fiscal years beginning after December 15, 2018, and interim periods therein. Early adoption is permitted in any interim period and the effect of the adoption should be reflected as of the beginning of the fiscal year of adoption. The Company does not expect that the adoption of ASU No. 2017-12 will have a material impact on our consolidated results of operations, cash flows, and statement of financial position. ASU 2016-18 — In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230) , Restricted Cash, or ASU No. 2016-18. The amendments of ASU No. 2016-18 require an entity to include amounts generally described as restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning of period and end of period total amounts on the statement of cash flows. The amendments of ASU No. 2016-18 are effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted and the adoption of ASU No. 2016-18 will be applied retrospectively. The Company early adopted ASU No. 2016-18 during the second quarter of 2017. Net cash flows used in investing activities for the nine months ended September 30, 2016 decreased by $7 million. The sum of Company's cash and cash equivalents and restricted cash reported within the consolidated balance sheet as of December 31, 2016 equals the beginning balances of cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows for the nine months ended September 30, 2017. The sum of Company's cash and cash equivalents and restricted cash reported within the consolidated balance sheet as of September 30, 2017 equals to the ending balances of cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows for the nine months ended September 30, 2017. ASU 2016-02 — In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), or Topic 842, with the objective to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and to improve financial reporting by expanding the related disclosures. The guidance in Topic 842 provides that a lessee that may have previously accounted for a lease as an operating lease under current GAAP should recognize the assets and liabilities that arise from a lease on the balance sheet. In addition, Topic 842 expands the required quantitative and qualitative disclosures with regards to lease arrangements. The Company expects to adopt the standard effective January 1, 2019 utilizing the required modified retrospective approach for the earliest period presented. The Company expects to elect certain of the practical expedients permitted, including the expedient that permits the Company to retain its existing lease assessment and classification. The Company is currently working through an adoption plan and evaluating the anticipated impact on the Company's results of operations, cash flows and financial position. While the Company is currently evaluating the impact the new guidance will have on its financial position and results of operations, the Company expects to recognize lease liabilities and right of use assets. The extent of the increase to assets and liabilities associated with these amounts remains to be determined pending the Company’s review of its existing lease contracts and service contracts which may contain embedded leases. While this review is still in process, the Company believes the adoption of Topic 842 may be material to its financial statements. ASU 2014-09 — In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), or ASU No. 2014-09, which was further amended through various updates issued by the FASB thereafter. The amendments of ASU No. 2014-09 completed the joint effort between the FASB and the IASB, to develop a common revenue standard for GAAP and IFRS, and to improve financial reporting. The guidance under Topic 606 provides that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for the goods or services provided and establishes a five step model to be applied by an entity in evaluating its contracts with customers. The Company expects to adopt the standard effective January 1, 2018 and apply the guidance retrospectively to contracts at the date of adoption. The Company will recognize the cumulative effect of applying Topic 606 at the date of initial application, as prescribed under the modified retrospective transition method. The Company also expects to elect the practical expedient available under Topic 606 for measuring progress toward complete satisfaction of a performance obligation and for disclosure requirements of remaining performance obligations. The practical expedient allows an entity to recognize revenue in the amount to which the entity has the right to invoice such that the entity has a right to the consideration in an amount that corresponds directly with the value to the customer for performance completed to date by the entity. The majority of the Company's revenues are obtained through PPAs, which are currently accounted for as operating leases. In connection with the implementation of Topic 842, as described above, the Company expects to elect certain of the practical expedients permitted, including the expedient that permits the Company to retain its existing lease assessment and classification. As leases are excluded from the scope of Topic 606, the Company expects the standard to have an immaterial impact on the Company's results of operations, cash flows and financial position. |
Business Acquisitions Business
Business Acquisitions Business Acquisitions (Notes) | 9 Months Ended |
Sep. 30, 2017 | |
Business Acquisitions [Abstract] | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | Business Acquisitions 2017 Acquisitions November 2017 Drop Down Assets — On November 1, 2017, the Company acquired a 38 MW solar portfolio primarily comprised of assets from NRG's Solar Power Partners (SPP) funds and other projects developed by NRG , for cash consideration of $71 million , excluding working capital adjustments, plus assumed non-recourse debt of $26 million . As of September 30, 2017, the November 2017 Drop Down Assets' debt was $33 million , of which $7 million was paid by NRG in October 2017. The purchase price for the November 2017 Drop Down Assets was funded with cash on hand. The assets and liabilities transferred to the Company relate to interests under common control by NRG and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The difference between the cash paid and historical value of the entities' equity was recorded as a distribution to NRG and reduced the balance of its noncontrolling interest. Because the transaction constituted a transfer of net assets under common control, the guidance requires retrospective combination of the entities for all periods presented as if the combination has been in effect since the inception of common control. The following is a summary of assets and liabilities transferred in connection with the acquisition of the November 2017 Drop Down Assets as of September 30, 2017: (In millions) Assets: Current assets $ 11 Property, plant and equipment 84 Non-current assets 32 Total assets 127 Liabilities: Debt (Current and non-current) (a) 31 Other current and non-current liabilities 3 Total liabilities assumed 34 Net assets acquired $ 93 (a) Net of $2 million of net debt issuance costs. Supplemental Pro Forma Information As described above, the Company's acquisition of the November 2017 Drop Down Assets was accounted for as a transfer of entities under common control. The following unaudited supplemental pro forma information represents the consolidated results of operations as if the Company acquired the November 2017 Drop Down Assets on January 1, 2016, including the impact of acquisition accounting with respect to NRG's acquisition of the projects. All net income or losses prior to the Company's acquisition of the projects is reflected as attributable to NRG and, accordingly, no pro forma impact to earnings per Class A and Class C common share was calculated. For the three months ended For the nine months ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Total operating revenues $ 269 $ 275 $ 777 $ 798 Net income 19 52 65 119 August 2017 Drop Down Assets — On August 1, 2017, the Company acquired the remaining 25% interest in NRG Wind TE Holdco, a portfolio of 12 wind projects, from NRG for total cash consideration of $44 million , including working capital adjustment of $ 3 million . The purchase agreement also included potential additional payments to NRG dependent upon actual energy prices for merchant periods beginning in 2027, which were estimated and accrued as contingent consideration in the amount of $8 million as of September 30, 2017. The Company originally acquired 75% of NRG Wind TE Holdco on November 3, 2015, or November 2015 Drop Down Assets, which were consolidated with 25% of the net assets recorded as noncontrolling interest. The assets and liabilities transferred to the Company related to interests under common control by NRG and were recorded at historical cost in accordance with ASC 805-50, Business Combination - Related Issues. As the Company had reflected NRG's 25% ownership of NRG Wind TE Holdco in noncontrolling interest, the difference between the cash paid of $44 million , net of the contingent consideration of $8 million , and the historical value of the remaining 25% of $87 million as of July 31, 2017, was recorded as an adjustment to NRG's noncontrolling interest. Since the transaction constituted a transfer of entities under common control, the accounting guidance requires retrospective combination of the entities for all periods presented as if the combination has been in effect from the beginning of the financial statement period or from the date the entities were under common control (if later than the beginning of the financial statement period). March 2017 Drop Down Assets — On March 27, 2017, the Company acquired the following interests from NRG: (i) Agua Caliente Borrower 2 LLC, which owns a 16% interest (approximately 31% of NRG's 51% interest) in the Agua Caliente solar farm, one of the ROFO Assets, representing ownership of approximately 46 net MW of capacity and (ii) NRG's interests in the Utah Solar Portfolio. Agua Caliente is located in Yuma County, AZ and sells power subject to a 25 -year PPA with Pacific Gas and Electric, with 22 years remaining on that contract. The seven utility-scale solar farms in the Utah Solar Portfolio are owned by the following entities: Four Brothers Capital, LLC, Iron Springs Capital, LLC, and Granite Mountain Capital, LLC. These utility-scale solar farms achieved commercial operations in 2016, sell power subject to 20 -year PPAs with PacifiCorp, a subsidiary of Berkshire Hathaway and are part of a tax equity structure with Dominion Solar Projects III, Inc., or Dominion, through which the Company is entitled to receive 50% of cash to be distributed, as further described below. The Company paid cash consideration of $130 million , plus $2 million of working capital paid through September 30, 2017. The acquisition of the March 2017 Drop Down Assets was funded with cash on hand. The Company recorded the acquired interests as equity method investments. The Company also assumed non-recourse debt of $41 million and $287 million on Agua Caliente Borrower 2 LLC and the Utah Solar Portfolio, respectively, as further described in Note 7 , Long-term Debt , as well as its pro-rata share of non-recourse project-level debt of Agua Caliente Solar LLC, as further described in Note 4 , Investments Accounted for by the Equity Method and Variable Interest Entities . The assets and liabilities transferred to the Company relate to interests under common control by NRG and were recorded at historical cost in accordance with ASC 805-50, Business Combination - Related Issues. The difference between the cash paid and the historical value of the entities' equity of $8 million was recorded as an adjustment to NRG's noncontrolling interest. Since the transaction constituted a transfer of entities under common control, the accounting guidance requires retrospective combination of the entities for all periods presented as if the combination has been in effect from the beginning of the financial statement period or from the date the entities were under common control (if later than the beginning of the financial statement period). Accordingly, in connection with the retrospective adjustment of prior periods, the Company adjusted its financial statements to reflect its results of operations, financial position and cash flows as if it recorded its interests in the Agua Caliente Borrower 2 LLC on January 1, 2016, and its interests in the Utah Solar Portfolio on November 2, 2016. The following is a summary of assets and liabilities transferred in connection with the acquisition of the March 2017 Drop Down Assets as of March 27, 2017: (In millions) Assets: Cash $ 6 Equity investment in projects 456 Total assets acquired 462 Liabilities: Debt (Current and non-current) (a) 320 Other current and non-current liabilities 3 Total liabilities assumed 323 Net assets acquired $ 139 (a) Net of $8 million of debt issuance costs. The following tables present a summary of the Company's historical information combining the financial information for the March 2017 Drop Down Assets transferred in connection with the acquisition: Three months ended September 30, 2016 Nine months ended September 30, 2016 As Previously Reported March 2017 Drop Down Assets As Currently Reported As Previously Reported March 2017 Drop Down Assets As Currently Reported (In millions) Total operating revenues $ 272 $ — $ 272 $ 789 $ — $ 789 Operating income 117 — 117 317 — 317 Net income 47 3 50 111 5 116 2016 Acquisitions CVSR Drop Down — Prior to September 1, 2016, the Company had a 48.95% interest in CVSR, which was accounted for as an equity method investment. On September 1, 2016, the Company acquired from NRG the remaining 51.05% interest of CVSR Holdco LLC, which indirectly owns the CVSR solar facility, for total cash consideration of $78.5 million plus an immaterial working capital adjustment. The Company also assumed additional debt of $496 million , which represents 51.05% of the CVSR project level debt and 51.05% of the notes issued under the CVSR Holdco Financing Agreement, as of the closing date, as further described in Note 10 , Long-term Debt , to the consolidated financial statements for the year ended December 31, 2016 included in the Company's May 9, 2017 Form 8-K. The acquisition was funded with cash on hand. The assets and liabilities transferred to the Company relate to interests under common control by NRG and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues . The difference between the cash paid and historical value of the CVSR Drop Down of $112 million , as well as $6 million of AOCL, was recorded as a distribution to NRG with the offset to noncontrolling interest. Because the transaction constituted a transfer of net assets under common control, the guidance requires retrospective combination of the entities for all periods presented as if the combination has been in effect since the inception of common control. In connection with the retrospective adjustment of prior periods, the Company now consolidates CVSR and 100% of its debt, consisting of $771 million of project level debt and $200 million of notes issued under the CVSR Holdco Financing Agreement as of September 1, 2016. In connection with the retrospective adjustment of prior periods, the Company has removed the equity method investment from all prior periods and adjusted its financial statements to reflect its results of operations, financial position and cash flows as if it had consolidated CVSR from the beginning of the financial statement period. |
Variable Interest Entities
Variable Interest Entities | 9 Months Ended |
Sep. 30, 2017 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments Accounted for by the Equity Method and Variable Interest Entities | Investments Accounted for by the Equity Method and Variable Interest Entities Entities that are Consolidated The Company has a controlling financial interest in certain entities which have been identified as VIEs under ASC 810, Consolidations, or ASC 810. These arrangements are primarily related to tax equity arrangements entered into with third parties in order to monetize certain tax credits associated with wind facilities, as further described in Note 5 , Investments Accounted for by the Equity Method and Variable Interest Entities , to the consolidated financial statements for the year ended December 31, 2016 included in the Company's May 9, 2017 Form 8-K. Summarized financial information for the Company's consolidated VIEs consisted of the following as of September 30, 2017 : (In millions) NRG Wind TE Holdco Alta Wind TE Holdco Spring Canyon Other current and non-current assets $ 175 $ 17 $ 4 Property, plant and equipment 417 443 96 Intangible assets 2 265 — Total assets 594 725 100 Current and non-current liabilities 206 9 6 Total liabilities 206 9 6 Noncontrolling interest 22 96 63 Net assets less noncontrolling interests $ 366 $ 620 $ 31 Entities that are not Consolidated The Company has interests in entities that are considered VIEs under ASC 810, but for which it is not considered the primary beneficiary. The Company accounts for its interests in these entities under the equity method of accounting, as further described in Note 5 , Investments Accounted for by the Equity Method and Variable Interest Entities , to the consolidated financial statements for the year ended December 31, 2016 included in the Company's May 9, 2017 Form 8-K. The Company's maximum exposure to loss as of September 30, 2017 is limited to its equity investment in the unconsolidated entities, as further summarized in the table below: (In millions) Maximum exposure to loss Four Brothers Solar, LLC $ 221 Granite Mountain Holdings, LLC 81 Iron Springs Holdings, LLC 56 GenConn Energy LLC 102 NRG DGPV Holdco 1 LLC 71 NRG RPV Holdco 1 LLC 65 NRG DGPV Holdco 2 LLC 54 NRG DGPV Holdco 3 LLC 20 NRG DGPV Holdco 2 LLC — The Company contributed $ 37 million into NRG DGPV Holdco 2 LLC, or DGPV Holdco 2 during the nine months ended September 30, 2017 , with an additional $2 million due to NRG in accounts payable — affiliate as of September 30, 2017 , to be funded in tranches as the project milestones are completed. The Company co-owns approximately 107 MW of distributed solar capacity, based on cash to be distributed, with a weighted average contract life of approximately 21 years as of September 30, 2017 . On October 12, 2017, the Company and NRG amended the DGPV Holdco 2 partnership agreement to increase the aggregate commitment of $50 million to $60 million in order to accommodate funding of additional projects. NRG DGPV Holdco 3 LLC — On September 26, 2017, the Company entered into an additional partnership with NRG by forming NRG DGPV Holdco 3 LLC, or DGPV Holdco 3, in which the Company would invest up to $50 million in an operating portfolio of distributed solar assets, primarily comprised of community solar projects, developed by NRG. The Company invested $4 million during September 2017 with an additional $16 million due to NRG in accounts payable - affiliate as of September 30, 2017 , to be funded in tranches as the project milestones are completed. The Company co-owns approximately 33 MW of distributed solar capacity, based on cash to be distributed, with a weighted average contract life of approximately 20 years as of September 30, 2017 . Utah Solar Portfolio — As described in Note 3 , Business Acquisitions , on March 27, 2017, as part of the March 2017 Drop Down Assets acquisition, the Company acquired from NRG 100% of the Class A equity interests in the Utah Solar Portfolio, comprised of Four Brothers Solar, LLC, Granite Mountain Holdings, LLC, and Iron Springs Holdings, LLC. The Class B interests of the Utah Solar Portfolio are owned by a tax equity investor, or TE Investor, who receives 99% of allocations of taxable income and other items until the flip point, which occurs when the TE Investor obtains a specified return on its initial investment, at which time the allocations to the TE Investor change to 50% . The Company generally receives 50% of distributable cash throughout the term of the tax-equity arrangements. The three entities comprising the Utah Solar Portfolio are VIEs. As the Company is not the primary beneficiary, the Company uses the equity method of accounting to account for its interests in the Utah Solar Portfolio. The Company utilizes the HLBV method to determine its share of the income or losses in the investees. The following tables present summarized financial information for the Utah Solar Portfolio: Three months ended September 30, Nine months ended September 30, (In millions) 2017 2016 2017 2016 Income Statement Data: Utah Solar Portfolio Operating revenues $ 23 $ — $ 60 $ — Operating income 9 — 17 — Net income 9 — 17 — September 30, 2017 December 31, 2016 Balance Sheet Data: (In millions) Utah Solar Portfolio Current assets $ 25 $ 20 Non-current assets 1,091 1,105 Current liabilities 9 14 Non-current liabilities 21 38 Non-recourse project-level debt of unconsolidated affiliates Agua Caliente Financing — As described in Note 3 , Business Acquisitions , the Company acquired a 16% interest in the Agua Caliente solar facility through its acquisition of Agua Caliente Borrower 2 LLC. As of September 30, 2017 , Agua Caliente Solar LLC, the direct owner of the Agua Caliente solar facility, had $833 million outstanding under the Agua Caliente financing agreement with the Federal Financing Bank, or FFB, borrowed to finance the costs of constructing the facility. The Company's pro-rata share of the Agua Caliente financing arrangement was $133 million as of September 30, 2017 . Amounts borrowed under the Agua Caliente financing agreement accrue interest at a fixed rate based on U.S. Treasury rates plus a spread of 0.375% , mature in 2037 and are secured by the assets of Agua Caliente Solar LLC. The loans provided by the FFB are guaranteed by the U.S. DOE. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair Value Accounting under ASC 820 ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: • Level 1—quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. • Level 2—inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. • Level 3—unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. In accordance with ASC 820, the Company determines the level in the fair value hierarchy within which each fair value measurement in its entirety falls, based on the lowest level input that is significant to the fair value measurement. For cash and cash equivalents, restricted cash, accounts receivable, accounts receivable — affiliate, accounts payable, current portion of the accounts payable — affiliates, accrued expenses and other liabilities, the carrying amounts approximate 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 the Company’s recorded financial instruments not carried at fair market value are as follows: As of September 30, 2017 As of December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Assets: Notes receivable (a) $ 18 $ 18 $ 30 $ 30 Liabilities: Long-term debt, including current portion (b) $ 5,881 $ 5,942 $ 6,057 $ 6,056 (a) Includes the long-term portion of notes receivable, which is recorded in other noncurrent assets on the Company's consolidated balance sheets. (b) Excludes deferred financing costs, which are recorded as a reduction to long-term debt 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 2 within the fair value hierarchy. The fair value of debt securities, 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. The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of September 30, 2017 and December 31, 2016 : As of September 30, 2017 As of December 31, 2016 Level 2 Level 3 Level 2 Level 3 (In millions) Long-term debt, including current portion $ 1,525 $ 4,417 $ 1,455 $ 4,601 Recurring Fair Value Measurements The Company records its derivative assets and liabilities at fair value on its consolidated balance sheet. The following table presents assets and liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis and their level within the fair value hierarchy: As of September 30, 2017 As of December 31, 2016 Fair Value (a) Fair Value (a) Fair Value (a) (In millions) Level 2 Level 1 Level 2 Derivative assets: Commodity contracts $ — $ 1 $ 1 Interest rate contracts — — 1 Total assets — 1 2 Derivative liabilities: Commodity contracts 2 — 1 Interest rate contracts 64 — 75 Total liabilities $ 66 $ — $ 76 (a) There were no derivative assets or liabilities classified as Level 1 as of September 30, 2017 . There were no derivative assets or liabilities classified as Level 3 as of September 30, 2017 and December 31, 2016 . Derivative Fair Value Measurements The Company's contracts are non-exchange-traded and valued using prices provided by external sources. For the Company’s energy markets, management receives quotes from multiple sources. To the extent that multiple quotes are received, the prices reflect the average of the bid-ask mid-point prices obtained from all sources believed to provide the most liquid market for the commodity. The fair value of each contract is discounted using a risk free interest rate. In addition, a credit reserve is applied to reflect credit risk, which is, for interest rate swaps, calculated based on credit default swaps using the bilateral method. For commodities, to the extent that the 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. For interest rate swaps and commodities, 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 the liabilities or that a market participant would be willing to pay for the assets. As of September 30, 2017 , the credit reserve resulted in a $1 million increase in fair value in interest expense. It is possible that future market prices could vary from those used in recording assets and liabilities and such variations could be material. Concentration of Credit Risk In addition to the credit risk discussion in Note 2 , Summary of Significant Accounting Policies , to the consolidated financial statements for the year ended December 31, 2016 included in the Company's May 9, 2017 Form 8-K, the following is a discussion of the concentration of credit risk for the Company's financial instruments. 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. The Company monitors and manages 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 agreements; 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. Risks surrounding counterparty performance and credit could ultimately impact the amount and timing of expected cash flows. The Company seeks to mitigate counterparty risk by having a diversified portfolio of counterparties. Counterparty credit exposure includes credit risk exposure under certain long-term agreements, including solar and other PPAs. As external sources or observable market quotes are not available to estimate such exposure, the Company estimates the exposure related to 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, 2017 , credit risk exposure to these counterparties attributable to the Company's ownership interests was approximately $2.9 billion for the next five years . The majority of these power contracts are with utilities 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 the Company is unable to predict. |
Accounting for Derivative Instr
Accounting for Derivative Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2017 | |
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 7 , Accounting for Derivative Instruments and Hedging Activities , to the consolidated financial statements for the year ended December 31, 2016 included in the Company's May 9, 2017 Form 8-K. Energy-Related Commodities As of September 30, 2017 , the Company had energy-related derivative instruments extending through 2020. At September 30, 2017 , these contracts were not designated as cash flow or fair value hedges. Interest Rate Swaps As of September 30, 2017 , the Company had interest rate derivative instruments on non-recourse debt extending through 2036, a portion of which are designated as cash flow hedges. Volumetric Underlying Derivative Transactions The following table summarizes the net notional volume buy of the Company's open derivative transactions broken out by commodity: Total Volume September 30, 2017 December 31, 2016 Commodity Units (In millions) Natural Gas MMBtu 2 3 Interest Dollars $ 1,983 $ 2,070 Fair Value of Derivative Instruments There were no derivative asset positions on the balance sheet as of September 30, 2017 . The following table summarizes the fair value within the derivative instrument valuation on the balance sheet: Fair Value Derivative Assets Derivative Liabilities December 31, 2016 September 30, 2017 December 31, 2016 (In millions) Derivatives Designated as Cash Flow Hedges: Interest rate contracts current $ — $ 7 $ 26 Interest rate contracts long-term 1 13 39 Total Derivatives Designated as Cash Flow Hedges 1 20 65 Derivatives Not Designated as Cash Flow Hedges: Interest rate contracts current — 15 5 Interest rate contracts long-term — 29 5 Commodity contracts current 2 1 1 Commodity contracts long-term — 1 — Total Derivatives Not Designated as Cash Flow Hedges 2 46 11 Total Derivatives $ 3 $ 66 $ 76 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. As of September 30, 2017 , there were no offsetting amounts at the counterparty master agreement level nor outstanding collateral paid or received. As of December 31, 2016 , there was no outstanding collateral paid or received. The following tables summarize the offsetting of derivatives by the counterparty master agreement level as of December 31, 2016 : As of December 31, 2016 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Commodity contracts: (In millions) Derivative assets $ 2 $ — $ 2 Derivative liabilities (1 ) — (1 ) Total commodity contracts 1 — 1 Interest rate contracts: Derivative assets 1 (1 ) — Derivative liabilities (75 ) 1 (74 ) Total interest rate contracts (74 ) — (74 ) Total derivative instruments $ (73 ) $ — $ (73 ) Accumulated Other Comprehensive Loss The following table summarizes the effects on the Company’s accumulated OCL balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 (In millions) Accumulated OCL beginning balance $ (70 ) $ (140 ) $ (70 ) $ (83 ) Reclassified from accumulated OCL to income due to realization of previously deferred amounts 4 4 10 10 Mark-to-market of cash flow hedge accounting contracts 3 17 (3 ) (46 ) Accumulated OCL ending balance, net of income tax benefit of $16 and $29, respectively (63 ) (119 ) (63 ) (119 ) Accumulated OCL attributable to noncontrolling interests (36 ) (71 ) (36 ) (71 ) Accumulated OCL attributable to NRG Yield, Inc. $ (27 ) $ (48 ) $ (27 ) $ (48 ) Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3 $ 14 $ 14 Amounts reclassified from accumulated OCL into income and amounts recognized in income from the ineffective portion of cash flow hedges are recorded to interest expense. There was no ineffectiveness for the nine months ended September 30, 2017 and 2016 . Accounting guidelines require a high degree of correlation between the derivative and the hedged item throughout the period in order to qualify as a cash flow hedge. As of December 31, 2016, the Company's regression analysis for Viento Funding II interest rate swaps, while positively correlated, did not meet the required threshold for cash flow hedge accounting. As a result, the Company de-designated the Viento Funding II cash flow hedges as of December 31, 2016, and will prospectively mark these derivatives to market through the income statement. The Company's regression analysis for Marsh Landing, Walnut Creek and Avra Valley interest rate swaps, while positively correlated, no longer contain matching terms for cash flow hedge accounting. As a result, the Company voluntarily de-designated the Marsh Landing, Walnut Creek and Avra Valley cash flow hedges as of April 28, 2017, and will prospectively mark these derivatives to market through the income statement. Impact of Derivative Instruments on the Statements of Income The Company has interest rate derivative instruments that are not designated as cash flow hedges. The effect of interest rate hedges is recorded to interest expense. For the three months ended September 30, 2017 and 2016 , the impact to the consolidated statements of income was a gain of $7 million and $2 million , respectively. For the nine months ended September 30, 2017 and 2016 , the impact to the consolidated statements of income was a loss of $2 million and $7 million , respectively. A portion of the Company’s derivative commodity contracts relates to its Thermal Business for the purchase of fuel commodities based on the forecasted usage of the thermal district energy centers. Realized gains and losses on these contracts are reflected in the fuel costs that are permitted to be billed to customers through the related customer contracts or tariffs and, accordingly, no gains or losses are reflected in the consolidated statements of income for these contracts. See Note 5 , Fair Value of Financial Instruments , for a discussion regarding concentration of credit risk. |
Long-term Debt
Long-term Debt | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Long-term Debt | Long-term Debt This footnote should be read in conjunction with the complete description under Note 10 , Long-term Debt , to the consolidated financial statements for the year ended December 31, 2016 included in the Company's May 9, 2017 Form 8-K. Long-term debt consisted of the following: September 30, 2017 December 31, 2016 September 30, 2017, interest rate % (a) Letters of Credit Outstanding at September 30, 2017 (In millions, except rates) 2019 Convertible Notes $ 345 $ 345 3.500 2020 Convertible Notes 288 288 3.250 2024 Senior Notes 500 500 5.375 2026 Senior Notes 350 350 5.000 Project-level debt: Agua Caliente Borrower 2, due 2038 41 — 5.430 17 Alpine, due 2022 138 145 L+1.750 37 Alta Wind I - V lease financing arrangements, due 2034 and 2035 940 965 5.696 - 7.015 103 CVSR, due 2037 746 771 2.339 - 3.775 — CVSR Holdco Notes, due 2037 194 199 4.680 13 El Segundo Energy Center, due 2023 400 443 L+1.75 - L+2.375 102 Energy Center Minneapolis, due 2017 and 2025 82 96 5.950 -7.250 — Energy Center Minneapolis Series D Notes, due 2031 125 125 3.550 — Laredo Ridge, due 2028 96 100 L+1.875 10 Marsh Landing, due 2017 and 2023 334 370 L+1.750 - L+1.875 34 Tapestry, due 2021 165 172 L+1.625 20 Utah Solar Portfolio, due 2022 284 287 L+2.625 13 Viento, due 2023 169 178 L+3.00 27 Walnut Creek, due 2023 279 310 L+1.625 49 Other 425 440 Various 37 Subtotal project-level debt: 4,418 4,601 Total debt 5,901 6,084 Less current maturities (300 ) (291 ) Less net debt issuance costs (61 ) (70 ) Less discounts (b) (20 ) (27 ) Total long-term debt $ 5,520 $ 5,696 (a) As of September 30, 2017 , L+ equals 3 month LIBOR plus x%, except for the Utah Solar Portfolio, where L+ equals 1 month LIBOR plus x% (b) Discounts relate to the 2019 Convertible Notes and 2020 Convertible Notes. The financing arrangements listed above contain certain covenants, including financial covenants that the Company is required to be in compliance with during the term of the respective arrangement. As of September 30, 2017 , the Company was in compliance with all of the required covenants. The discussion below describes material changes to or additions of long-term debt for the nine months ended September 30, 2017 . NRG Yield LLC and NRG Yield Operating LLC Revolving Credit Facility As of September 30, 2017 , there were no outstanding borrowings under the revolving credit facility and the Company had $68 million of letters of credit outstanding. Thermal Financing On March 16, 2017, NRG Energy Center Minneapolis LLC, a subsidiary of NRG Thermal LLC, amended the shelf facility of its existing Thermal financing arrangement to allow for the issuance of an additional $10 million of Series F notes at a 4.60% interest rate, or Series F Notes, increasing the total principal amount of notes available for issuance under the shelf facility to $80 million . The Series F Notes will be secured by substantially all of the assets of NRG Energy Center Minneapolis LLC. NRG Thermal LLC has guaranteed the indebtedness and its guarantee is secured by a pledge of the equity interests in all of NRG Thermal LLC’s subsidiaries. Financing Related to the March 2017 Drop Down Assets Agua Caliente Borrower 2, due 2038 On February 17, 2017, Agua Caliente Borrower 1 LLC, an indirect subsidiary of NRG, and Agua Caliente Borrower 2 LLC, issued $130 million of senior secured notes under the Agua Caliente Borrower 1 LLC and Agua Caliente Borrower 2 LLC financing agreement, or Agua Caliente Holdco Financing Agreement, that bear interest at 5.43% and mature on December 31, 2038. As described in Note 3 , Business Acquisitions , on March 27, 2017, the Company acquired Agua Caliente Borrower 2 LLC from NRG as part of the March 2017 Drop Down Assets acquisition and assumed NRG's portion of senior secured notes under the Agua Caliente Holdco Financing Agreement. Agua Caliente Borrower 2 LLC holds $41 million of the Agua Caliente Holdco debt as of September 30, 2017 . The debt is joint and several with respect to Agua Caliente Borrower 1 LLC and Agua Caliente Borrower 2 LLC and is secured by the equity interests of each borrower in the Agua Caliente solar facility. Utah Solar Portfolio, due 2022 As part of the March 2017 Drop Down Assets acquisition, the Company assumed non-recourse debt of $287 million relating to the Utah Solar Portfolio at an interest rate of LIBOR plus 2.625% . The debt matures on December 16, 2022. The $287 million consisted of $222 million outstanding at the time of NRG's acquisition of the Utah Solar Portfolio on November 2, 2016, and additional borrowings of $65 million , net of debt issuance costs, incurred during 2016. The Company holds $284 million of the Utah Solar Portfolio debt as of September 30, 2017 . |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Shares issued during the year are weighted for the portion of the year that they were outstanding. Diluted earnings per share is computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive common shares that were outstanding during the period. The reconciliation of the Company's basic and diluted earnings per share is shown in the following tables: Three months ended September 30, 2017 2016 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Basic earnings per share attributable to NRG Yield, Inc. common stockholders Net income attributable to NRG Yield, Inc. $ 10 $ 19 $ 12 $ 21 Weighted average number of common shares outstanding — basic 35 64 35 63 Earnings per weighted average common share — basic $ 0.30 $ 0.30 $ 0.34 $ 0.34 Diluted earnings per share attributable to NRG Yield, Inc. common stockholders Net income attributable to NRG Yield, Inc. $ 13 $ 21 $ 15 $ 24 Weighted average number of common shares outstanding — diluted 49 75 49 73 Earnings per weighted average common share — diluted $ 0.27 $ 0.29 $ 0.30 $ 0.32 Nine months ended September 30, 2017 2016 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Basic and diluted earnings per share attributable to NRG Yield, Inc. common stockholders Net income attributable to NRG Yield, Inc. $ 19 $ 35 $ 25 $ 45 Weighted average number of common shares outstanding — basic 35 63 35 63 Earnings per weighted average common share — basic $ 0.56 $ 0.56 $ 0.72 $ 0.72 Diluted earnings per share attributable to NRG Yield, Inc. common stockholders Net income attributable to NRG Yield, Inc. $ 19 $ 35 $ 34 $ 45 Weighted average number of common shares outstanding — diluted 35 63 49 63 Earnings per weighted average common share — diluted $ 0.56 $ 0.56 $ 0.68 $ 0.72 (a) Basic and diluted earnings per share might not recalculate due to presenting values in millions rather than whole dollars. The following table summarizes the Company's outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company's diluted earnings per share: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 (In millions of shares) 2019 Convertible Notes - Common Class A — — 15 — 2020 Convertible Notes - Common Class C — — 10 10 |
Changes in Capital Structure
Changes in Capital Structure | 9 Months Ended |
Sep. 30, 2017 | |
Changes in Capital Structure [Abstract] | |
Partners' Capital Notes Disclosure [Text Block] | Changes in Capital Structure At-the-Market Equity Offering Program, or the ATM Program NRG Yield, Inc. is party to an equity distribution agreement with Barclays Capital Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC, as sales agents. Pursuant to the terms of the equity distribution agreement, NRG Yield, Inc. may offer and sell shares of its Class C common stock par value $0.01 per share, from time to time through the sales agents up to an aggregate sales price of $150 million through an at-the-market equity offering program, or the ATM Program. NRG Yield, Inc. may also sell shares of its Class C common stock to any of the sales agents, as principals for its own account, at a price agreed upon at the time of sale. The following table lists the issuance of shares of Class C common stock under the ATM Program during the three and nine months ended September 30, 2017 : (In millions, except shares) Three months ended September 30, 2017 Nine months ended September 30, 2017 Shares of Class C common stock issued 987,727 1,921,866 Gross proceeds $18 $35 NRG Yield, Inc. incurred commission fees of approximately $346 thousand in connection with the issuance of Class C common stock during the nine months ended September 30, 2017. At September 30, 2017 , approximately $115 million of Class C common stock remains available for issuance under the ATM Program. As a result of the Company's sale of shares of Class C common stock under the ATM Program, the public shareholders of Class A and Class C common stock increased their economic and voting interests in NRG Yield, Inc. to 53.7% , and 44.9% , respectively, as of September 30, 2017 . Dividends to Class A and Class C common stockholders The following table lists the dividends paid on the Company's Class A common stock and Class C common stock during the nine months ended September 30, 2017 : Third Quarter 2017 Second Quarter 2017 First Quarter 2017 Dividends per Class A share $ 0.28 $ 0.27 $ 0.26 Dividends per Class C share $ 0.28 $ 0.27 $ 0.26 Dividends on the Class A common stock and Class C common stock are subject to available capital, market conditions, and compliance with associated laws, regulations and other contractual obligations. The Company expects that, based on current circumstances, comparable cash dividends will continue to be paid in the foreseeable future. On October 31, 2017 , the Company declared quarterly dividends on its Class A common stock and Class C common stock of $0.288 per share payable on December 15, 2017 , to stockholders of record as of December 1, 2017 . The Company also has authorized 10 million shares of preferred stock, par value $0.01 per share. None of the shares of preferred stock have been issued. |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting | Segment Reporting The Company’s segment structure reflects how management currently operates and allocates resources. The Company's businesses are primarily segregated based on conventional power generation, renewable businesses which consist of solar and wind, and the thermal and chilled water business. The Corporate segment reflects the Company's corporate costs. The Company's chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, and CAFD, as well as economic gross margin and net income (loss). Three months ended September 30, 2017 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 88 $ 131 $ 46 $ — $ 265 Cost of operations 16 33 29 — 78 Depreciation and amortization 27 56 5 — 88 General and administrative — — — 4 4 Operating income (loss) 45 42 12 (4 ) 95 Equity in earnings of unconsolidated affiliates 3 25 — — 28 Other income, net 1 — — — 1 Interest expense (13 ) (39 ) (2 ) (21 ) (75 ) Income (loss) before income taxes 36 28 10 (25 ) 49 Income tax expense — — — 8 8 Net Income (Loss) $ 36 $ 28 $ 10 $ (33 ) $ 41 Total Assets $ 1,920 $ 5,821 $ 420 $ 281 $ 8,442 Three months ended September 30, 2016 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 82 $ 142 $ 48 $ — $ 272 Cost of operations 14 31 31 — 76 Depreciation and amortization 20 50 5 — 75 General and administrative — — — 4 4 Operating income (loss) 48 61 12 (4 ) 117 Equity in earnings of unconsolidated affiliates 3 13 — — 16 Other income, net 1 — — — 1 Interest expense (13 ) (37 ) (2 ) (19 ) (71 ) Income (loss) before income taxes 39 37 10 (23 ) 63 Income tax expense — — — 13 13 Net Income (Loss) $ 39 $ 37 $ 10 $ (36 ) $ 50 Nine months ended September 30, 2017 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 246 $ 391 $ 130 $ — $ 767 Cost of operations 53 100 86 — 239 Depreciation and amortization 77 149 15 — 241 General and administrative — — — 14 14 Acquisition-related transaction and integration costs — — — 2 2 Operating income (loss) 116 142 29 (16 ) 271 Equity in earnings of unconsolidated affiliates 9 54 — — 63 Other income, net 1 1 — 1 3 Interest expense (39 ) (128 ) (7 ) (63 ) (237 ) Income (loss) before income taxes 87 69 22 (78 ) 100 Income tax expense — — — 15 15 Net Income (Loss) $ 87 $ 69 $ 22 $ (93 ) $ 85 Total Assets $ 1,920 $ 5,821 $ 420 $ 281 $ 8,442 Nine months ended September 30, 2016 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 246 $ 412 $ 131 $ — $ 789 Cost of operations 53 98 87 — 238 Depreciation and amortization 60 149 15 — 224 General and administrative — — — 10 10 Operating income (loss) 133 165 29 (10 ) 317 Equity in earnings of unconsolidated affiliates 10 24 — — 34 Other income, net 1 2 — — 3 Interest expense (36 ) (115 ) (5 ) (57 ) (213 ) Income (loss) before income taxes 108 76 24 (67 ) 141 Income tax expense — — — 25 25 Net Income (Loss) $ 108 $ 76 $ 24 $ (92 ) $ 116 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017 2016 2017 2016 (In millions, except percentages) Income before income taxes $ 49 $ 63 $ 100 $ 141 Income tax expense 8 13 15 25 Effective income tax rate 16.3 % 20.6 % 15.0 % 17.7 % For the three and nine months ended September 30, 2017 and 2016 , the overall effective tax rate was different than the statutory rate of 35% primarily due to taxable earnings allocated to NRG resulting from its interest in NRG Yield LLC and production and investment tax credits generated from certain wind and solar assets, respectively. For tax purposes, NRG Yield LLC is treated as a partnership; therefore, the Company and NRG each record their respective share of taxable income or loss. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure | Related Party Transactions In addition to the transactions and relationships described elsewhere in these notes to the consolidated financial statements, NRG and certain subsidiaries of NRG provide services to the Company and its project entities. Amounts due to NRG subsidiaries are recorded as accounts payable - affiliate and amounts due to the Company from NRG or its subsidiaries are recorded as accounts receivable - affiliate in the Company's balance sheet. Power Purchase Agreements (PPAs) between the Company and NRG Power Marketing Elbow Creek and Dover are parties to PPAs with NRG Power Marketing and generate revenue under the PPAs, which are recorded to operating revenues in the Company's consolidated statements of operations. For the three and nine months ended September 30, 2017 , Elbow Creek and Dover, collectively, generated revenue of $3 million and $10 million , respectively. For the three and nine months ended September 30, 2016 , Elbow Creek and Dover, collectively, generated revenue of $4 million and $10 million , respectively. Energy Marketing Services Agreement by and between Thermal entities and NRG Power Marketing NRG Energy Center Dover LLC, NRG Energy Center Minneapolis, NRG Energy Center Phoenix LLC, and NRG Energy Center Paxton LLC, or Thermal entities, are parties to Energy Marketing Services Agreements with NRG Power Marketing, a wholly-owned subsidiary of NRG. Under the agreements, NRG Power Marketing procures fuel and fuel transportation for the operation of Thermal entities. For the three and nine months ended September 30, 2017 , Thermal entities purchased $1 million and $7 million , respectively, of natural gas from NRG Power Marketing. For the three and nine months ended September 30, 2016 , Thermal entities purchased $1 million and $6 million , respectively, of natural gas from NRG Power Marketing. Operation and Maintenance (O&M) Services Agreements by and between Company's subsidiaries and NRG Certain of the Company's subsidiaries are party to O&M Services Agreements with NRG, pursuant to which NRG subsidiaries provide necessary and appropriate services to operate and maintain the subsidiaries' plant operations, businesses and thermal facilities. NRG is reimbursed for the provided services, as well as for all reasonable and related expenses and expenditures, and payments to third parties for services and materials rendered to or on behalf of the parties to the agreements. NRG is not entitled to any management fee or mark-up under the agreements. The following table summarizes material O&M costs recorded in the cost of operations line in the Company's consolidated statements of operations: Three months ended September 30, Nine months ended September 30, (in millions) 2017 2016 2017 2016 O&M costs $ 10 $ 9 $ 29 $ 28 There were balances of $21 million and $22 million due from the entities above to NRG in accounts payable — affiliate as of September 30, 2017 and December 31, 2016 , respectively. As of September 30, 2017 , $3 million was recorded in long term liabilities of the consolidated balance sheet. O&M Services Agreements by and between GenConn and NRG GenConn incurs fees under two O&M agreements with wholly-owned subsidiaries of NRG. For the three months and nine months ended September 30, 2017 and September 30, 2016 , the aggregate fees incurred under the agreements were $1 million and $4 million for each period in each year, respectively. Administrative Services Agreement by and between Marsh Landing and NRG West Coast LLC On December 19, 2016, Marsh Landing entered into an administrative services agreement with NRG West Coast LLC, a wholly owned subsidiary of NRG. The administrative services agreement was previously between Marsh Landing and GenOn Energy Services, LLC, a wholly-owned subsidiary of NRG and was subsequently assigned to and assumed by NRG West Coast LLC. The Company reimbursed costs under this agreement of $4 million and $10 million for the three and nine months ended September 30, 2017 , respectively. The Company reimbursed costs under the agreement of $4 million and $9 million for the three and nine months ended September 30, 2016 , respectively. Administrative Services Agreements by and between the Company and NRG Renew Operation & Maintenance LLC Various wholly-owned subsidiaries of the Company in the Renewables segment are party to administrative services agreements with NRG Renew Operation and Maintenance LLC, or RENOM, a wholly-owned subsidiary of NRG, which provides O&M services on behalf of these entities. The Company incurred total expenses for these services in the amount of $6 million and $16 million for the three and nine months ended September 30, 2017 , respectively. The Company incurred total expenses for these services of $4 million and $9 million for the three and nine months ended September 30, 2016 , respectively. There was a balance of $4 million and $5 million due to RENOM as of September 30, 2017 and December 31, 2016 , respectively. Management Services Agreement by and between the Company and NRG NRG provides the Company with various operation, management, and administrative services, which include human resources, accounting, tax, legal, information systems, treasury, and risk management, as set forth in the Management Services Agreement. As of September 30, 2017 , the base management fee was approximately $8 million per year, subject to an inflation-based adjustment annually at an inflation factor based on the year-over-year U.S. consumer price index. The fee is also subject to adjustments following the consummation of acquisitions and as a result of a change in the scope of services provided under the Management Services Agreement. Costs incurred under this agreement were $2 million and $8 million for the three and nine months ended September 30, 2017 , respectively. Costs incurred under this agreement for the three and nine months ended September 30, 2016 were $2 million and $7 million , respectively. The costs incurred under the Management Service Agreement included certain direct expenses incurred by NRG on behalf of the Company in addition to the base management fee. |
Contingencies (Notes)
Contingencies (Notes) | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies Disclosure [Text Block] | Contingencies This note should be read in conjunction with the complete description under Note 16 , Commitments and Contingencies , to the Company's 2016 Form 10-K. 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. The Company 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. As applicable, the Company has established an adequate reserve for the matters discussed below. In addition, legal costs are expensed as incurred. Management assesses such matters based on current information and makes a judgment concerning its potential outcome, considering the nature of the claim, the amount and nature of damages sought, and the probability of success. The Company is unable to predict the outcome of the legal proceedings below 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, the Company 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 the Company's consolidated financial position, results of operations, or cash flows. Braun v. NRG Yield, Inc. — On April 19, 2016, plaintiffs filed a putative class action lawsuit against NRG Yield, Inc., the current and former members of its board of directors individually, and other parties in California Superior Court in Kern County, CA. Plaintiffs allege various violations of the Securities Act due to the defendants’ alleged failure to disclose material facts related to low wind production prior to NRG Yield, Inc.'s June 22, 2015 Class C common stock offering. Plaintiffs seek compensatory damages, rescission, attorney’s fees and costs. The defendants filed demurrers and a motion challenging jurisdiction on October 18, 2016. On October 26, 2017, the court approved the parties' stipulation which provides the plaintiffs' opposition is due on December 6, 2017 and the defendants' reply is due on February 8, 2018. Ahmed v. NRG Energy, Inc. and the NRG Yield Board of Directors — On September 15, 2016, plaintiffs filed a putative class action lawsuit against NRG Energy, Inc., the directors of NRG Yield, Inc., and other parties in the Delaware Chancery Court. The complaint alleges that the defendants breached their respective fiduciary duties with regard to the recapitalization of NRG Yield, Inc. common stock in 2015. The plaintiffs generally seek economic damages, attorney’s fees and injunctive relief. The defendants filed a motion to dismiss the lawsuit on December 21, 2016. Plaintiffs filed their objection to the motion to dismiss on February 15, 2017. The defendants' reply was filed on March 24, 2017. The court heard oral argument on the defendants' motion to dismiss on June 20, 2017. On September 7, 2017, the court requested additional briefing which the parties provided on September 21, 2017. GenOn Noteholders' Lawsuit — On December 13, 2016, certain indenture trustees for an ad hoc group of holders, or the Noteholders, of the GenOn Energy, Inc., or GenOn, 7.875% Senior Notes due 2017, 9.500% Notes due 2018, and 9.875% Notes due 2020, and the GenOn Americas Generation, LLC 8.50% Senior Notes due 2021 and 9.125% Senior Notes due 2031, along with certain of the Noteholders, filed a complaint in the Superior Court of the State of Delaware against NRG and GenOn alleging certain claims related to the Services Agreement between NRG and GenOn. On April 30, 2017, the Noteholders filed an amended complaint that asserts additional claims of fraudulent transfer, insider preference and breach of fiduciary duties. In addition to NRG and GenOn, the amended complaint names NRG Yield LLC and certain current and former officers and directors of GenOn as defendants. The plaintiffs, among other things, generally seek return of all monies paid under the Services Agreement and any other damages that the court deems appropriate. On April 28, 2017, the bondholders filed an amended complaint adding the GenOn directors and officers as defendants and asserting claims that they breached certain fiduciary duties. Plaintiffs specifically allege that the transfer of Marsh Landing to NRG Yield LLC constituted a fraudulent transfer. On June 12, 2017, certain GenOn entities, NRG and certain holders of the GenOn and GenOn Americas Generation, LLC senior notes entered into a restructuring support and lock-up agreement. Pursuant to the terms of the restructuring support and lock-up agreement, this matter should ultimately be resolved if GenOn's plan of reorganization, originally submitted on June 29, 2017, is approved by the United States Bankruptcy Court for the Southern District of Texas, Houston Division. |
Summary of Significant Accoun21
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could be different from these estimates. |
Noncontrolling Interest Disclosure [Text Block] | Noncontrolling Interests Stockholders' equity represents the equity associated with the Class A and Class C common stockholders, the equity associated with the Class B and Class D common stockholder, NRG, and the third-party interests under certain tax equity arrangements are classified as noncontrolling interests. The following table reflects the changes in the Company's noncontrolling interest balance: (In millions) Balance as of December 31, 2016 $ 689 Capital contributions from tax equity investors, net of distributions 11 Payment for the March 2017 and August 2017 Drop Down Assets (176 ) Pre-acquisition net income of Drop Down Assets 18 Comprehensive income 19 Distributions to NRG for Drop Down Assets, net of contributions (47 ) August 2017 Drop Down Assets contingent consideration (8 ) NRG Yield LLC distributions to NRG (69 ) Balance as of September 30, 2017 $ 437 Distributions to NRG for Drop Down Assets, net of contributions Distributions and contributions to and from NRG for Drop Down Assets relate primarily to NRG's interests in the August 2017 and March 2017 Drop Down Assets prior to the acquisition by the Company. This amount includes cash and non-cash distributions and includes a distribution to NRG from Agua Caliente Borrower 2 LLC following the issuance of the Agua Caliente Holdco financing, as described in Note 7 , Long-term Debt . NRG Yield LLC Distributions to NRG The following table lists the distributions paid to NRG on NRG Yield LLC's Class B and D units during the nine months ended September 30, 2017 : Third Quarter 2017 Second Quarter 2017 First Quarter 2017 Distributions per Class B Unit $ 0.28 $ 0.27 $ 0.26 Distributions per Class D Unit $ 0.28 $ 0.27 $ 0.26 On October 31, 2017 , NRG Yield LLC declared a distribution on its Class A, Class B, Class C and Class D units of $0.288 per unit payable on December 15, 2017 to unit holders of record as of December 1, 2017 . Incom |
Distributions [Policy Text Block] | Distributions to NRG The following table lists the distributions paid to NRG on NRG Yield LLC's Class B and D units during the nine months ended September 30, 2017 : Third Quarter 2017 Second Quarter 2017 First Quarter 2017 Distributions per Class B Unit $ 0.28 $ 0.27 $ 0.26 Distributions per Class D Unit $ 0.28 $ 0.27 $ 0.26 On October 31, 2017 , NRG Yield LLC declared a distribution on its Class A, Class B, Class C and Class D units of $0.288 per unit payable on December 15, 2017 to unit holders of record as of December 1, 2017 . Incom |
Recent Accounting Developments | Recent Accounting Developments ASU 2017-12 — In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) , Targeted Improvements to Accounting for Hedging Activities, or ASU No. 2017-12. ASU No. 2017-12 amends ASU No. 2016-15. The amendments of ASU No. 2016-15 were issued to simplify the application of hedge accounting guidance and more closely aligning financial reporting for hedging relationships with economic results of an entity's risk management activities. The issues addressed by ASU No. 2017-12 include but are not limited to alignment of risk management activities and financial reporting, risk component hedging, accounting for the hedged item in fair value hedges of interest rate risk, recognition and presentation of the effects of hedging instruments, amounts excluded from the assessment of hedge effectiveness, and other simplifications of hedge accounting guidance. The amendments of ASU No. 2017-12 are effective for fiscal years beginning after December 15, 2018, and interim periods therein. Early adoption is permitted in any interim period and the effect of the adoption should be reflected as of the beginning of the fiscal year of adoption. The Company does not expect that the adoption of ASU No. 2017-12 will have a material impact on our consolidated results of operations, cash flows, and statement of financial position. ASU 2016-18 — In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230) , Restricted Cash, or ASU No. 2016-18. The amendments of ASU No. 2016-18 require an entity to include amounts generally described as restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning of period and end of period total amounts on the statement of cash flows. The amendments of ASU No. 2016-18 are effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted and the adoption of ASU No. 2016-18 will be applied retrospectively. The Company early adopted ASU No. 2016-18 during the second quarter of 2017. Net cash flows used in investing activities for the nine months ended September 30, 2016 decreased by $7 million. The sum of Company's cash and cash equivalents and restricted cash reported within the consolidated balance sheet as of December 31, 2016 equals the beginning balances of cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows for the nine months ended September 30, 2017. The sum of Company's cash and cash equivalents and restricted cash reported within the consolidated balance sheet as of September 30, 2017 equals to the ending balances of cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows for the nine months ended September 30, 2017. ASU 2016-02 — In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), or Topic 842, with the objective to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and to improve financial reporting by expanding the related disclosures. The guidance in Topic 842 provides that a lessee that may have previously accounted for a lease as an operating lease under current GAAP should recognize the assets and liabilities that arise from a lease on the balance sheet. In addition, Topic 842 expands the required quantitative and qualitative disclosures with regards to lease arrangements. The Company expects to adopt the standard effective January 1, 2019 utilizing the required modified retrospective approach for the earliest period presented. The Company expects to elect certain of the practical expedients permitted, including the expedient that permits the Company to retain its existing lease assessment and classification. The Company is currently working through an adoption plan and evaluating the anticipated impact on the Company's results of operations, cash flows and financial position. While the Company is currently evaluating the impact the new guidance will have on its financial position and results of operations, the Company expects to recognize lease liabilities and right of use assets. The extent of the increase to assets and liabilities associated with these amounts remains to be determined pending the Company’s review of its existing lease contracts and service contracts which may contain embedded leases. While this review is still in process, the Company believes the adoption of Topic 842 may be material to its financial statements. ASU 2014-09 — In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), or ASU No. 2014-09, which was further amended through various updates issued by the FASB thereafter. The amendments of ASU No. 2014-09 completed the joint effort between the FASB and the IASB, to develop a common revenue standard for GAAP and IFRS, and to improve financial reporting. The guidance under Topic 606 provides that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for the goods or services provided and establishes a five step model to be applied by an entity in evaluating its contracts with customers. The Company expects to adopt the standard effective January 1, 2018 and apply the guidance retrospectively to contracts at the date of adoption. The Company will recognize the cumulative effect of applying Topic 606 at the date of initial application, as prescribed under the modified retrospective transition method. The Company also expects to elect the practical expedient available under Topic 606 for measuring progress toward complete satisfaction of a performance obligation and for disclosure requirements of remaining performance obligations. The practical expedient allows an entity to recognize revenue in the amount to which the entity has the right to invoice such that the entity has a right to the consideration in an amount that corresponds directly with the value to the customer for performance completed to date by the entity. The majority of the Company's revenues are obtained through PPAs, which are currently accounted for as operating leases. In connection with the implementation of Topic 842, as described above, the Company expects to elect certain of the practical expedients permitted, including the expedient that permits the Company to retain its existing lease assessment and classification. As leases are excluded from the scope of Topic 606, the Company expects the standard to have an immaterial impact on the Company's results of operations, cash flows and financial position. |
Segment Reporting Segment Repor
Segment Reporting Segment Reporting (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting, Policy [Policy Text Block] | The Company’s segment structure reflects how management currently operates and allocates resources. The Company's businesses are primarily segregated based on conventional power generation, renewable businesses which consist of solar and wind, and the thermal and chilled water business. The Corporate segment reflects the Company's corporate costs. The Company's chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, and CAFD, as well as economic gross margin and net income (loss). |
Nature of Business Nature of Bu
Nature of Business Nature of Business (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Nature of Business Disclosure [Abstract] | |
IPO of NRG Yield | The following table represents the structure of the Company as of September 30, 2017 : |
Schedule of Ownership | As of September 30, 2017 , the Company's operating assets are comprised of the following projects: Projects Percentage Ownership Net Capacity (MW) (a) Offtake Counterparty Expiration Conventional El Segundo 100 % 550 Southern California Edison 2023 GenConn Devon 50 % 95 Connecticut Light & Power 2040 GenConn Middletown 50 % 95 Connecticut Light & Power 2041 Marsh Landing 100 % 720 Pacific Gas and Electric 2023 Walnut Creek 100 % 485 Southern California Edison 2023 1,945 Utility Scale Solar Agua Caliente 16 % 46 Pacific Gas and Electric 2039 Alpine 100 % 66 Pacific Gas and Electric 2033 Avenal 50 % 23 Pacific Gas and Electric 2031 Avra Valley 100 % 26 Tucson Electric Power 2032 Blythe 100 % 21 Southern California Edison 2029 Borrego 100 % 26 San Diego Gas and Electric 2038 CVSR 100 % 250 Pacific Gas and Electric 2038 Desert Sunlight 250 25 % 63 Southern California Edison 2035 Desert Sunlight 300 25 % 75 Pacific Gas and Electric 2040 Kansas South 100 % 20 Pacific Gas and Electric 2033 Roadrunner 100 % 20 El Paso Electric 2031 TA High Desert 100 % 20 Southern California Edison 2033 Utah Solar Portfolio (b) (e) 50 % 265 PacifiCorp 2036 921 Distributed Solar Apple I LLC Projects 100 % 9 Various 2032 AZ DG Solar Projects 100 % 5 Various 2025 - 2033 14 Wind Alta I 100 % 150 Southern California Edison 2035 Alta II 100 % 150 Southern California Edison 2035 Alta III 100 % 150 Southern California Edison 2035 Alta IV 100 % 102 Southern California Edison 2035 Alta V 100 % 168 Southern California Edison 2035 Alta X (b) 100 % 137 Southern California Edison 2038 Alta XI (b) 100 % 90 Southern California Edison 2038 Buffalo Bear 100 % 19 Western Farmers Electric Co-operative 2033 Crosswinds (b) (f) 99 % 21 Corn Belt Power Cooperative 2027 Elbow Creek (b) (f) 100 % 122 NRG Power Marketing LLC 2022 Elkhorn Ridge (b) (f) 66.7 % 54 Nebraska Public Power District 2029 Forward (b) (f) 100 % 29 Constellation NewEnergy, Inc. 2017 Goat Wind (b) (f) 100 % 150 Dow Pipeline Company 2025 Hardin (b) (f) 99 % 15 Interstate Power and Light Company 2027 Laredo Ridge 100 % 80 Nebraska Public Power District 2031 Lookout (b) (f) 100 % 38 Southern Maryland Electric Cooperative 2030 Projects Percentage Ownership Net Capacity (MW) (a) Offtake Counterparty Expiration Odin (b) (f) 99.9 % 20 Missouri River Energy Services 2028 Pinnacle 100 % 55 Maryland Department of General Services and University System of Maryland 2031 San Juan Mesa (b) (f) 75 % 90 Southwestern Public Service Company 2025 Sleeping Bear (b) (f) 100 % 95 Public Service Company of Oklahoma 2032 South Trent 100 % 101 AEP Energy Partners 2029 Spanish Fork (b) (f) 100 % 19 PacifiCorp 2028 Spring Canyon II (b) 90.1 % 29 Platte River Power Authority 2039 Spring Canyon III (b) 90.1 % 25 Platte River Power Authority 2039 Taloga 100 % 130 Oklahoma Gas & Electric 2031 Wildorado (b) (f) 100 % 161 Southwestern Public Service Company 2027 2,200 Thermal NRG Dover Energy Center LLC 100 % 103 NRG Power Marketing LLC 2018 Thermal generation 100 % 20 Various Various 123 Total net generation capacity (c) 5,203 Thermal equivalent MWt (d) 100 % 1,319 Various Various (a) Net capacity represents the maximum, or rated, generating capacity of the facility multiplied by the Company's percentage ownership in the facility as of September 30, 2017 . (b) Projects are part of tax equity arrangements. (c) The Company's total generation capacity is net of 6 MWs for noncontrolling interest for Spring Canyon II and III. The Company's generation capacity including this noncontrolling interest was 5,209 MWs. (d) For thermal energy, net capacity represents MWt for steam or chilled water and excludes 134 MWt available under the right-to-use provisions contained in agreements between two of the Company's thermal facilities and certain of its customers. (e) Represents interests in Four Brothers Solar, LLC, Granite Mountain Holdings, LLC, and Iron Springs Holdings, LLC, all acquired as part of the March 2017 Drop Down Assets (ownership percentage is based upon cash to be distributed). (f) Projects are part of NRG Wind TE Holdco portfolio. |
Summary of Significant Accoun24
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Schedule of Accumulated Depreciation and Amortization [Table Text Block] | The following table presents the accumulated depreciation included in the property, plant and equipment, net, and accumulated amortization included in intangible assets, net, respectively, as of September 30, 2017 and December 31, 2016 : September 30, 2017 December 31, 2016 (In millions) Property, Plant and Equipment Accumulated Depreciation $ 1,189 $ 951 Intangible Assets Accumulated Amortization 216 163 |
Schedule of Change in Noncontrolling Interest [Table Text Block] | The following table reflects the changes in the Company's noncontrolling interest balance: (In millions) Balance as of December 31, 2016 $ 689 Capital contributions from tax equity investors, net of distributions 11 Payment for the March 2017 and August 2017 Drop Down Assets (176 ) Pre-acquisition net income of Drop Down Assets 18 Comprehensive income 19 Distributions to NRG for Drop Down Assets, net of contributions (47 ) August 2017 Drop Down Assets contingent consideration (8 ) NRG Yield LLC distributions to NRG (69 ) Balance as of September 30, 2017 $ 437 |
Distributions Made to Limited Liability Company (LLC) Member, by Distribution [Table Text Block] | The following table lists the distributions paid to NRG on NRG Yield LLC's Class B and D units during the nine months ended September 30, 2017 : Third Quarter 2017 Second Quarter 2017 First Quarter 2017 Distributions per Class B Unit $ 0.28 $ 0.27 $ 0.26 Distributions per Class D Unit $ 0.28 $ 0.27 $ 0.26 |
Business Acquisitions Busines25
Business Acquisitions Business Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
November 2017 Drop Down Assets [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following is a summary of assets and liabilities transferred in connection with the acquisition of the November 2017 Drop Down Assets as of September 30, 2017: (In millions) Assets: Current assets $ 11 Property, plant and equipment 84 Non-current assets 32 Total assets 127 Liabilities: Debt (Current and non-current) (a) 31 Other current and non-current liabilities 3 Total liabilities assumed 34 Net assets acquired $ 93 (a) Net of $2 million of net debt issuance costs. |
Business Acquisition, Pro Forma Information [Table Text Block] | As described above, the Company's acquisition of the November 2017 Drop Down Assets was accounted for as a transfer of entities under common control. The following unaudited supplemental pro forma information represents the consolidated results of operations as if the Company acquired the November 2017 Drop Down Assets on January 1, 2016, including the impact of acquisition accounting with respect to NRG's acquisition of the projects. All net income or losses prior to the Company's acquisition of the projects is reflected as attributable to NRG and, accordingly, no pro forma impact to earnings per Class A and Class C common share was calculated. For the three months ended For the nine months ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Total operating revenues $ 269 $ 275 $ 777 $ 798 Net income 19 52 65 119 |
March 2017 Drop Down Assets [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following is a summary of assets and liabilities transferred in connection with the acquisition of the March 2017 Drop Down Assets as of March 27, 2017: (In millions) Assets: Cash $ 6 Equity investment in projects 456 Total assets acquired 462 Liabilities: Debt (Current and non-current) (a) 320 Other current and non-current liabilities 3 Total liabilities assumed 323 Net assets acquired $ 139 (a) Net of $8 million of debt issuance costs. |
Business Acquisition, Pro Forma Information [Table Text Block] | The following tables present a summary of the Company's historical information combining the financial information for the March 2017 Drop Down Assets transferred in connection with the acquisition: Three months ended September 30, 2016 Nine months ended September 30, 2016 As Previously Reported March 2017 Drop Down Assets As Currently Reported As Previously Reported March 2017 Drop Down Assets As Currently Reported (In millions) Total operating revenues $ 272 $ — $ 272 $ 789 $ — $ 789 Operating income 117 — 117 317 — 317 Net income 47 3 50 111 5 116 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Schedule of Equity Method Investments [Line Items] | |
Equity Method Investments [Table Text Block] | The following tables present summarized financial information for the Utah Solar Portfolio: Three months ended September 30, Nine months ended September 30, (In millions) 2017 2016 2017 2016 Income Statement Data: Utah Solar Portfolio Operating revenues $ 23 $ — $ 60 $ — Operating income 9 — 17 — Net income 9 — 17 — September 30, 2017 December 31, 2016 Balance Sheet Data: (In millions) Utah Solar Portfolio Current assets $ 25 $ 20 Non-current assets 1,091 1,105 Current liabilities 9 14 Non-current liabilities 21 38 |
Entities that are not consolidated [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Schedule of Variable Interest Entities [Table Text Block] | The Company's maximum exposure to loss as of September 30, 2017 is limited to its equity investment in the unconsolidated entities, as further summarized in the table below: (In millions) Maximum exposure to loss Four Brothers Solar, LLC $ 221 Granite Mountain Holdings, LLC 81 Iron Springs Holdings, LLC 56 GenConn Energy LLC 102 NRG DGPV Holdco 1 LLC 71 NRG RPV Holdco 1 LLC 65 NRG DGPV Holdco 2 LLC 54 NRG DGPV Holdco 3 LLC 20 |
Consolidated Entities [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Schedule of Variable Interest Entities [Table Text Block] | Summarized financial information for the Company's consolidated VIEs consisted of the following as of September 30, 2017 : (In millions) NRG Wind TE Holdco Alta Wind TE Holdco Spring Canyon Other current and non-current assets $ 175 $ 17 $ 4 Property, plant and equipment 417 443 96 Intangible assets 2 265 — Total assets 594 725 100 Current and non-current liabilities 206 9 6 Total liabilities 206 9 6 Noncontrolling interest 22 96 63 Net assets less noncontrolling interests $ 366 $ 620 $ 31 |
Fair Value of Financial Instr27
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Estimated carrying values and fair values | The estimated carrying amounts and fair values of the Company’s recorded financial instruments not carried at fair market value are as follows: As of September 30, 2017 As of December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Assets: Notes receivable (a) $ 18 $ 18 $ 30 $ 30 Liabilities: Long-term debt, including current portion (b) $ 5,881 $ 5,942 $ 6,057 $ 6,056 |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | The fair value of the Company's publicly-traded long-term debt is based on quoted market prices and is classified as Level 2 within the fair value hierarchy. The fair value of debt securities, 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. The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of September 30, 2017 and December 31, 2016 : As of September 30, 2017 As of December 31, 2016 Level 2 Level 3 Level 2 Level 3 (In millions) Long-term debt, including current portion $ 1,525 $ 4,417 $ 1,455 $ 4,601 |
Schedule of Fair Value, Assets and Liabilities [Table Text Block] | The Company records its derivative assets and liabilities at fair value on its consolidated balance sheet. The following table presents assets and liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis and their level within the fair value hierarchy: As of September 30, 2017 As of December 31, 2016 Fair Value (a) Fair Value (a) Fair Value (a) (In millions) Level 2 Level 1 Level 2 Derivative assets: Commodity contracts $ — $ 1 $ 1 Interest rate contracts — — 1 Total assets — 1 2 Derivative liabilities: Commodity contracts 2 — 1 Interest rate contracts 64 — 75 Total liabilities $ 66 $ — $ 76 (a) There were no derivative assets or liabilities classified as Level 1 as of September 30, 2017 . There were no derivative assets or liabilities classified as Level 3 as of September 30, 2017 and December 31, 2016 . |
Accounting for Derivative Ins28
Accounting for Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Net notional volume buy/(sell) of NRG Yield's open derivative transactions broken out by commodity | The following table summarizes the net notional volume buy of the Company's open derivative transactions broken out by commodity: Total Volume September 30, 2017 December 31, 2016 Commodity Units (In millions) Natural Gas MMBtu 2 3 Interest Dollars $ 1,983 $ 2,070 |
Fair value within the derivative instrument valuation on the balance sheets | he following table summarizes the fair value within the derivative instrument valuation on the balance sheet: Fair Value Derivative Assets Derivative Liabilities December 31, 2016 September 30, 2017 December 31, 2016 (In millions) Derivatives Designated as Cash Flow Hedges: Interest rate contracts current $ — $ 7 $ 26 Interest rate contracts long-term 1 13 39 Total Derivatives Designated as Cash Flow Hedges 1 20 65 Derivatives Not Designated as Cash Flow Hedges: Interest rate contracts current — 15 5 Interest rate contracts long-term — 29 5 Commodity contracts current 2 1 1 Commodity contracts long-term — 1 — Total Derivatives Not Designated as Cash Flow Hedges 2 46 11 Total Derivatives $ 3 $ 66 $ 76 |
Offsetting of derivatives by counterparty master agreement level and collateral received or paid | As of December 31, 2016 Gross Amounts of Recognized Assets/Liabilities Derivative Instruments Net Amount Commodity contracts: (In millions) Derivative assets $ 2 $ — $ 2 Derivative liabilities (1 ) — (1 ) Total commodity contracts 1 — 1 Interest rate contracts: Derivative assets 1 (1 ) — Derivative liabilities (75 ) 1 (74 ) Total interest rate contracts (74 ) — (74 ) Total derivative instruments $ (73 ) $ — $ (73 ) |
Effects of NRG Yield's accumulated OCI balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax | The following table summarizes the effects on the Company’s accumulated OCL balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 (In millions) Accumulated OCL beginning balance $ (70 ) $ (140 ) $ (70 ) $ (83 ) Reclassified from accumulated OCL to income due to realization of previously deferred amounts 4 4 10 10 Mark-to-market of cash flow hedge accounting contracts 3 17 (3 ) (46 ) Accumulated OCL ending balance, net of income tax benefit of $16 and $29, respectively (63 ) (119 ) (63 ) (119 ) Accumulated OCL attributable to noncontrolling interests (36 ) (71 ) (36 ) (71 ) Accumulated OCL attributable to NRG Yield, Inc. $ (27 ) $ (48 ) $ (27 ) $ (48 ) Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3 $ 14 $ 14 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of long-term debt | Long-term debt consisted of the following: September 30, 2017 December 31, 2016 September 30, 2017, interest rate % (a) Letters of Credit Outstanding at September 30, 2017 (In millions, except rates) 2019 Convertible Notes $ 345 $ 345 3.500 2020 Convertible Notes 288 288 3.250 2024 Senior Notes 500 500 5.375 2026 Senior Notes 350 350 5.000 Project-level debt: Agua Caliente Borrower 2, due 2038 41 — 5.430 17 Alpine, due 2022 138 145 L+1.750 37 Alta Wind I - V lease financing arrangements, due 2034 and 2035 940 965 5.696 - 7.015 103 CVSR, due 2037 746 771 2.339 - 3.775 — CVSR Holdco Notes, due 2037 194 199 4.680 13 El Segundo Energy Center, due 2023 400 443 L+1.75 - L+2.375 102 Energy Center Minneapolis, due 2017 and 2025 82 96 5.950 -7.250 — Energy Center Minneapolis Series D Notes, due 2031 125 125 3.550 — Laredo Ridge, due 2028 96 100 L+1.875 10 Marsh Landing, due 2017 and 2023 334 370 L+1.750 - L+1.875 34 Tapestry, due 2021 165 172 L+1.625 20 Utah Solar Portfolio, due 2022 284 287 L+2.625 13 Viento, due 2023 169 178 L+3.00 27 Walnut Creek, due 2023 279 310 L+1.625 49 Other 425 440 Various 37 Subtotal project-level debt: 4,418 4,601 Total debt 5,901 6,084 Less current maturities (300 ) (291 ) Less net debt issuance costs (61 ) (70 ) Less discounts (b) (20 ) (27 ) Total long-term debt $ 5,520 $ 5,696 (a) As of September 30, 2017 , L+ equals 3 month LIBOR plus x%, except for the Utah Solar Portfolio, where L+ equals 1 month LIBOR plus x% (b) Discounts relate to the 2019 Convertible Notes and 2020 Convertible Notes. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The reconciliation of the Company's basic and diluted earnings per share is shown in the following tables: Three months ended September 30, 2017 2016 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Basic earnings per share attributable to NRG Yield, Inc. common stockholders Net income attributable to NRG Yield, Inc. $ 10 $ 19 $ 12 $ 21 Weighted average number of common shares outstanding — basic 35 64 35 63 Earnings per weighted average common share — basic $ 0.30 $ 0.30 $ 0.34 $ 0.34 Diluted earnings per share attributable to NRG Yield, Inc. common stockholders Net income attributable to NRG Yield, Inc. $ 13 $ 21 $ 15 $ 24 Weighted average number of common shares outstanding — diluted 49 75 49 73 Earnings per weighted average common share — diluted $ 0.27 $ 0.29 $ 0.30 $ 0.32 Nine months ended September 30, 2017 2016 (In millions, except per share data) (a) Common Class A Common Class C Common Class A Common Class C Basic and diluted earnings per share attributable to NRG Yield, Inc. common stockholders Net income attributable to NRG Yield, Inc. $ 19 $ 35 $ 25 $ 45 Weighted average number of common shares outstanding — basic 35 63 35 63 Earnings per weighted average common share — basic $ 0.56 $ 0.56 $ 0.72 $ 0.72 Diluted earnings per share attributable to NRG Yield, Inc. common stockholders Net income attributable to NRG Yield, Inc. $ 19 $ 35 $ 34 $ 45 Weighted average number of common shares outstanding — diluted 35 63 49 63 Earnings per weighted average common share — diluted $ 0.56 $ 0.56 $ 0.68 $ 0.72 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | The following table summarizes the Company's outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company's diluted earnings per share: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 (In millions of shares) 2019 Convertible Notes - Common Class A — — 15 — 2020 Convertible Notes - Common Class C — — 10 10 |
Changes in Capital Structure St
Changes in Capital Structure Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Changes in Capital Structure [Abstract] | |
Schedule of Stock by Class [Table Text Block] | The following table lists the issuance of shares of Class C common stock under the ATM Program during the three and nine months ended September 30, 2017 : (In millions, except shares) Three months ended September 30, 2017 Nine months ended September 30, 2017 Shares of Class C common stock issued 987,727 1,921,866 Gross proceeds $18 $35 |
Dividends Declared [Table Text Block] | The following table lists the dividends paid on the Company's Class A common stock and Class C common stock during the nine months ended September 30, 2017 : Third Quarter 2017 Second Quarter 2017 First Quarter 2017 Dividends per Class A share $ 0.28 $ 0.27 $ 0.26 Dividends per Class C share $ 0.28 $ 0.27 $ 0.26 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Three months ended September 30, 2017 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 88 $ 131 $ 46 $ — $ 265 Cost of operations 16 33 29 — 78 Depreciation and amortization 27 56 5 — 88 General and administrative — — — 4 4 Operating income (loss) 45 42 12 (4 ) 95 Equity in earnings of unconsolidated affiliates 3 25 — — 28 Other income, net 1 — — — 1 Interest expense (13 ) (39 ) (2 ) (21 ) (75 ) Income (loss) before income taxes 36 28 10 (25 ) 49 Income tax expense — — — 8 8 Net Income (Loss) $ 36 $ 28 $ 10 $ (33 ) $ 41 Total Assets $ 1,920 $ 5,821 $ 420 $ 281 $ 8,442 Three months ended September 30, 2016 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 82 $ 142 $ 48 $ — $ 272 Cost of operations 14 31 31 — 76 Depreciation and amortization 20 50 5 — 75 General and administrative — — — 4 4 Operating income (loss) 48 61 12 (4 ) 117 Equity in earnings of unconsolidated affiliates 3 13 — — 16 Other income, net 1 — — — 1 Interest expense (13 ) (37 ) (2 ) (19 ) (71 ) Income (loss) before income taxes 39 37 10 (23 ) 63 Income tax expense — — — 13 13 Net Income (Loss) $ 39 $ 37 $ 10 $ (36 ) $ 50 Nine months ended September 30, 2017 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 246 $ 391 $ 130 $ — $ 767 Cost of operations 53 100 86 — 239 Depreciation and amortization 77 149 15 — 241 General and administrative — — — 14 14 Acquisition-related transaction and integration costs — — — 2 2 Operating income (loss) 116 142 29 (16 ) 271 Equity in earnings of unconsolidated affiliates 9 54 — — 63 Other income, net 1 1 — 1 3 Interest expense (39 ) (128 ) (7 ) (63 ) (237 ) Income (loss) before income taxes 87 69 22 (78 ) 100 Income tax expense — — — 15 15 Net Income (Loss) $ 87 $ 69 $ 22 $ (93 ) $ 85 Total Assets $ 1,920 $ 5,821 $ 420 $ 281 $ 8,442 Nine months ended September 30, 2016 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 246 $ 412 $ 131 $ — $ 789 Cost of operations 53 98 87 — 238 Depreciation and amortization 60 149 15 — 224 General and administrative — — — 10 10 Operating income (loss) 133 165 29 (10 ) 317 Equity in earnings of unconsolidated affiliates 10 24 — — 34 Other income, net 1 2 — — 3 Interest expense (36 ) (115 ) (5 ) (57 ) (213 ) Income (loss) before income taxes 108 76 24 (67 ) 141 Income tax expense — — — 25 25 Net Income (Loss) $ 108 $ 76 $ 24 $ (92 ) $ 116 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Reconciliation of the U.S. federal statutory rate to the Company's effective rate | The income tax provision consisted of the following: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 (In millions, except percentages) Income before income taxes $ 49 $ 63 $ 100 $ 141 Income tax expense 8 13 15 25 Effective income tax rate 16.3 % 20.6 % 15.0 % 17.7 % |
Related Party Transactions Rela
Related Party Transactions Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Operations and Maintenance services [Member] | |
Related Party Transaction | |
Schedule of Related Party Transactions [Table Text Block] | The following table summarizes material O&M costs recorded in the cost of operations line in the Company's consolidated statements of operations: Three months ended September 30, Nine months ended September 30, (in millions) 2017 2016 2017 2016 O&M costs $ 10 $ 9 $ 29 $ 28 |
Nature of Business (Details)
Nature of Business (Details) $ in Millions | Aug. 02, 2017USD ($) | Mar. 27, 2017USD ($)MW | Sep. 30, 2017USD ($)MW | Aug. 01, 2017USD ($) | Sep. 01, 2016USD ($) | |
Nature of Business | ||||||
Weighted Average Remaining PPA Term | 16 years | |||||
Power Generation Capacity, Megawatts | [1],[2] | 5,203 | ||||
Power Generation Capacity, Megawatts, including portion attributable to noncontrolling interest | [1] | 5,209 | ||||
Megawatts Thermal Equivalent, Available Under right-to-use Provisions | 134 | |||||
Conventional Generation, Utility-Scale Solar, Distributed Solar, and Wind [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 5,080 | ||||
Conventional Generation [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 1,945 | ||||
Utility-Scale Solar | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 921 | ||||
Distributed Solar [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 14 | ||||
Wind Farms [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 2,200 | ||||
Thermal [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [2] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1] | 123 | ||||
Steam and Chilled Water Capacity, Megawatts Thermal Equivalent | [1],[2],[3] | 1,319 | ||||
NRG Energy Center Dover [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
NRG Yield, Inc. [Member] | ||||||
Nature of Business | ||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Voting Interest | 44.90% | |||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 53.70% | |||||
NRG Yield LLC | ||||||
Nature of Business | ||||||
Sale of Stock, Percentage of Ownership after Transaction | 100.00% | |||||
NRG Yield LLC | NRG [Member] | ||||||
Nature of Business | ||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Voting Interest | 55.10% | |||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 46.30% | |||||
GenConn Middletown | Conventional Generation [Member] | ||||||
Nature of Business | ||||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||
Power Generation Capacity, Megawatts | [1] | 95 | ||||
GenConn Devon [Member] | Conventional Generation [Member] | ||||||
Nature of Business | ||||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||
Power Generation Capacity, Megawatts | [1] | 95 | ||||
Marsh Landing | Conventional Generation [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 720 | ||||
El Segundo [Member] | Conventional Generation [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 550 | ||||
Walnut Creek [Member] | Conventional Generation [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 485 | ||||
Agua Caliente [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 16.00% | |||||
Power Generation Capacity, Megawatts | [1] | 46 | ||||
Alpine [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 66 | ||||
Avenal [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||
Power Generation Capacity, Megawatts | [1] | 23 | ||||
Avra Valley | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 26 | ||||
NRG Solar Blythe LLC [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 21 | ||||
Borrego [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 26 | ||||
CVSR [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Equity Method Investment, Ownership Percentage | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 250 | ||||
Desert Sunlight [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 25.00% | |||||
Kansas South [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 20 | ||||
Roadrunner | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 20 | ||||
TA - High Desert LLC [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 20 | ||||
Utah Portfolio [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | [4] | 50.00% | ||||
Power Generation Capacity, Megawatts | [1],[4] | 265 | ||||
AZ DG Solar Projects [Member] | Distributed Solar [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 5 | ||||
PFMG DG Solar Projects [Member] | Distributed Solar [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 9 | ||||
Alta I [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 150 | ||||
Alta II [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 150 | ||||
Alta III [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 150 | ||||
Alta IV [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 102 | ||||
Alta V [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 168 | ||||
Alta X [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1],[5] | 137 | ||||
Alta XI [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1],[5] | 90 | ||||
South Trent | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 101 | ||||
Spanish Fork [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 19 | ||||
Spring Canyon II [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5] | 90.10% | ||||
Power Generation Capacity, Megawatts | [1],[5] | 29 | ||||
Laredo Ridge [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 80 | ||||
Lookout [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 38 | ||||
Odin Wind Farm [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 99.90% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 20 | ||||
Taloga [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 130 | ||||
Wildorado [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 161 | ||||
Pinnacle [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 55 | ||||
San Juan Mesa Wind Project, LLC [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 75.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 90 | ||||
Sleeping Bear [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 95 | ||||
Buffalo Bear [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 19 | ||||
Crosswinds [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 99.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 21 | ||||
Elbow Creek [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 122 | ||||
Elkhorn Ridge Wind, LLC [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 66.70% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 54 | ||||
Forward [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 29 | ||||
Goat Wind [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 100.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 150 | ||||
Hardin [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5],[6] | 99.00% | ||||
Power Generation Capacity, Megawatts | [1],[5],[6] | 15 | ||||
Spring Canyon [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts attributed to noncontrolling interest | [1],[5] | 6 | ||||
Spring Canyon III [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | [5] | 90.10% | ||||
Power Generation Capacity, Megawatts | [1],[5] | 25 | ||||
Thermal [Member] | Thermal [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 20 | ||||
NRG Energy Center Dover [Member] | Thermal [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 103 | ||||
August 2017 Drop Down Assets [Member] | ||||||
Nature of Business | ||||||
Business Acquisitions, Purchase Price | $ | $ 44 | |||||
Business Acquisition, Consideration Transferred, Working Capital | $ | $ 3 | |||||
Business Combination, Contingent Consideration, Liability | $ | $ 8 | |||||
CVSR [Member] | ||||||
Nature of Business | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.05% | |||||
Business Combination, Long-term Debt | $ | $ 496 | |||||
Southern California Edison [Member] | Desert Sunlight [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 63 | ||||
Pacific Gas and Electric [Member] | Desert Sunlight [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 75 | ||||
Common Class D [Member] | NRG Yield LLC | ||||||
Nature of Business | ||||||
Sale of Stock, Percentage of Ownership after Transaction | 100.00% | |||||
Unconsolidated Solar Partnerships [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | 226 | |||||
August 2017 Drop Down Assets [Member] | ||||||
Nature of Business | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 25.00% | |||||
Agua Caliente [Member] | ||||||
Nature of Business | ||||||
Equity Method Investment, Ownership Percentage | 16.00% | |||||
March 2017 Drop Down Assets [Member] | ||||||
Nature of Business | ||||||
Business Acquisitions, Purchase Price | $ | $ 130 | |||||
Business Acquisition, Consideration Transferred, Working Capital | $ | 2 | |||||
Business Combination, Long-term Debt | $ | 328 | |||||
Pro-Rate Share of Debt Held by Unconsolidated Affiliates | $ | $ 135 | |||||
Agua Caliente Borrower 2 [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | 46 | |||||
Pro-Rate Share of Debt Held by Unconsolidated Affiliates | $ | $ 133 | |||||
Agua Caliente Borrower 2 [Member] | NRG [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 51.00% | |||||
[1] | Net capacity represents the maximum, or rated, generating capacity of the facility multiplied by the Company's percentage ownership in the facility as of September 30, 2017. | |||||
[2] | The Company's total generation capacity is net of 6 MWs for noncontrolling interest for Spring Canyon II and III. The Company's generation capacity including this noncontrolling interest was 5,209 MWs. | |||||
[3] | For thermal energy, net capacity represents MWt for steam or chilled water and excludes 134 MWt available under the right-to-use provisions contained in agreements between two of the Company's thermal facilities and certain of its customers. | |||||
[4] | Represents interests in Four Brothers Solar, LLC, Granite Mountain Holdings, LLC, and Iron Springs Holdings, LLC, all acquired as part of the March 2017 Drop Down Assets (ownership percentage is based upon cash to be distributed). | |||||
[5] | Projects are part of tax equity arrangements | |||||
[6] | Projects are part of NRG Wind TE Holdco portfolio. |
Summary of Significant Accoun36
Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2016 | [1] | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | ||
Summary of Significant Accounting Policies [Line Items] | |||||||||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ 1,189 | $ 1,189 | $ 951 | ||||||
Finite-Lived Intangible Assets, Accumulated Amortization | 216 | 216 | 163 | ||||||
Stockholders' Equity Attributable to Noncontrolling Interest | (437) | (437) | $ (689) | ||||||
Pre-acquisition net income of Drop Down Assets | 1 | $ 11 | 18 | $ 20 | [1],[2] | ||||
Comprehensive income | $ 17 | $ 28 | 19 | 11 | [1] | ||||
Distributions to NRG for Drop Down Assets, net of contributions | (49) | $ (126) | [3] | ||||||
NRG Yield LLC distributions to NRG | $ (69) | ||||||||
Dividends Payable, Date Declared | Oct. 31, 2017 | ||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.288 | ||||||||
Dividends Payable, Date to be Paid | Dec. 15, 2017 | ||||||||
Dividends Payable, Date of Record | Dec. 1, 2017 | ||||||||
Additional State Tax Expense if Filed Under a Standalone Methodology | $ 1 | ||||||||
2017 Drop Down Assets [Member] | |||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||
Payment for the March 2017 and August 2017 Drop Down Assets | (176) | ||||||||
Financial Institutions [Member] | |||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||
Capital contributions from tax equity investors, net of distributions | 11 | ||||||||
Common Class B [Member] | |||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||
Distribution Made to Limited Liability Company (LLC) Member, Distributions Paid, Per Unit | $ 0.28 | $ 0.27 | $ 0.26 | ||||||
Common Class D [Member] | |||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||
Distribution Made to Limited Liability Company (LLC) Member, Distributions Paid, Per Unit | $ 0.28 | $ 0.27 | $ 0.26 | ||||||
Drop Down Assets [Member] | |||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||
Distributions to NRG for Drop Down Assets, net of contributions | $ (47) | ||||||||
[1] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[2] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[3] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Business Acquisitions Busines37
Business Acquisitions Business Acquisitions - November 2017 Drop Down (Details) $ in Millions | Nov. 02, 2017USD ($) | Oct. 31, 2017USD ($) | Sep. 30, 2017USD ($)MW | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($)MW | Sep. 30, 2016USD ($) | Nov. 01, 2017USD ($)MW | Dec. 31, 2016USD ($) | |
Business Acquisition [Line Items] | |||||||||
Equity investments in affiliates | $ 1,183 | $ 1,183 | $ 1,152 | ||||||
Power Generation Capacity, Megawatts | MW | [1],[2] | 5,203 | 5,203 | ||||||
Debt Issuance Costs, Net | $ 61 | $ 61 | $ 70 | ||||||
November 2017 Drop Down Assets [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Non-Recourse Debt | [3] | 33 | 33 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 11 | 11 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 84 | 84 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 32 | 32 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 127 | 127 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | [3] | 31 | 31 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | 3 | 3 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 34 | 34 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 93 | 93 | |||||||
Debt Issuance Costs, Net | 2 | 2 | |||||||
Business Acquisition, Pro Forma Revenue | 269 | $ 275 | 777 | $ 798 | |||||
Business Acquisition, Pro Forma Net Income (Loss) | $ 19 | $ 52 | $ 65 | $ 119 | |||||
Subsequent Event [Member] | November 2017 Drop Down Assets [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Power Generation Capacity, Megawatts | MW | 38 | ||||||||
Business Combination, Consideration Transferred | $ 71 | ||||||||
Non-Recourse Debt | $ 26 | ||||||||
Repayments of Debt | $ 7 | ||||||||
[1] | Net capacity represents the maximum, or rated, generating capacity of the facility multiplied by the Company's percentage ownership in the facility as of September 30, 2017. | ||||||||
[2] | The Company's total generation capacity is net of 6 MWs for noncontrolling interest for Spring Canyon II and III. The Company's generation capacity including this noncontrolling interest was 5,209 MWs. | ||||||||
[3] | Net of $2 million of net debt issuance costs. |
Business Acquisitions Busines38
Business Acquisitions Business Acquisitions - August 2017 Drop Down (Details) - August 2017 Drop Down Assets [Member] - USD ($) $ in Millions | Aug. 02, 2017 | Sep. 30, 2017 | Aug. 01, 2017 |
Business Acquisition [Line Items] | |||
Business Combination, Consideration Transferred | $ 44 | ||
Business Acquisition, Consideration Transferred, Working Capital | $ 3 | ||
Business Combination, Contingent Consideration, Liability | $ 8 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 87 |
Business Acquisitions Busines39
Business Acquisitions Business Acquisitions - March 2017 Drop Down (Details) $ in Millions | Mar. 27, 2017USD ($)MW | Sep. 30, 2017USD ($)MW | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($)MW | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |||
Business Acquisition [Line Items] | |||||||||
Power Generation Capacity, Megawatts | MW | [1],[2] | 5,203 | 5,203 | ||||||
Equity investments in affiliates | $ 1,183 | $ 1,183 | $ 1,152 | ||||||
Debt Issuance Costs, Net | 61 | 61 | $ 70 | ||||||
Total operating revenues | 265 | $ 272 | [3] | 767 | $ 789 | [3] | |||
Operating Income | 95 | 117 | [3] | 271 | 317 | [3] | |||
Net Income (Loss) | $ 41 | 50 | [3],[4] | $ 85 | 116 | [3],[4] | |||
Agua Caliente [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Equity Method Investment, Ownership Percentage | 16.00% | 16.00% | |||||||
Agua Caliente Borrower 2 [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Percentage of NRG's Ownership | 31.00% | ||||||||
Power Generation Capacity, Megawatts | MW | 46 | ||||||||
Power Purchase Agreement Period | 25 years | ||||||||
Remaining Power Purchase Agreement term | 22 years | ||||||||
Non-Recourse Debt | $ 41 | ||||||||
Utah Portfolio [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Remaining Power Purchase Agreement term | 20 years | ||||||||
Percentage of Cash Available for Distributions | 50.00% | 50.00% | |||||||
Non-Recourse Debt | $ 287 | ||||||||
Total operating revenues | $ 23 | 0 | $ 60 | 0 | |||||
Operating Income | 9 | 0 | 17 | 0 | |||||
Net Income (Loss) | $ 9 | 0 | $ 17 | 0 | |||||
March 2017 Drop Down Assets [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Consideration Transferred | 130 | ||||||||
Business Acquisition, Consideration Transferred, Working Capital | 2 | ||||||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | 8 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 6 | ||||||||
Equity investments in affiliates | 456 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 462 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | [5] | 320 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | 3 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 323 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 139 | ||||||||
Debt Issuance Costs, Net | $ 8 | ||||||||
Total operating revenues | 0 | 0 | |||||||
Operating Income | 0 | 0 | |||||||
Net Income (Loss) | 3 | 5 | |||||||
NRG [Member] | Agua Caliente Borrower 2 [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Percentage of Ownership | 51.00% | ||||||||
NRG [Member] | Utah Portfolio [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 50.00% | ||||||||
Scenario, Previously Reported [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Total operating revenues | 272 | 789 | |||||||
Operating Income | 117 | 317 | |||||||
Net Income (Loss) | $ 47 | $ 111 | |||||||
[1] | Net capacity represents the maximum, or rated, generating capacity of the facility multiplied by the Company's percentage ownership in the facility as of September 30, 2017. | ||||||||
[2] | The Company's total generation capacity is net of 6 MWs for noncontrolling interest for Spring Canyon II and III. The Company's generation capacity including this noncontrolling interest was 5,209 MWs. | ||||||||
[3] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[4] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[5] | Net of $8 million of debt issuance costs. |
Business Acquisitions Busines40
Business Acquisitions Business Acquisitions - CVSR (Details) - USD ($) $ in Millions | Sep. 02, 2016 | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 01, 2016 |
Business Acquisition [Line Items] | ||||
Long-term Debt | $ 5,901 | $ 6,084 | ||
CVSR [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.05% | |||
Payments to Acquire Businesses, Gross | $ 78.5 | |||
Business Combination, Long-term Debt | $ 496 | |||
CVSR [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | 112 | |||
Business Combination, Consideration Transferred | $ 6 | |||
CVSR, due 2037 | ||||
Business Acquisition [Line Items] | ||||
Long-term Debt | 746 | 771 | ||
CVSR, due 2037 | CVSR [Member] | ||||
Business Acquisition [Line Items] | ||||
Long-term Debt | 771 | |||
CVSR Holdco due 2037 [Member] | ||||
Business Acquisition [Line Items] | ||||
Long-term Debt | $ 194 | $ 199 | ||
CVSR Holdco due 2037 [Member] | CVSR [Member] | ||||
Business Acquisition [Line Items] | ||||
Long-term Debt | $ 200 | |||
Utility-Scale Solar [Member] | CVSR [Member] | ||||
Business Acquisition [Line Items] | ||||
Percentage of Ownership | 100.00% |
Variable Interest Entities Vari
Variable Interest Entities Variable Interest Entities - Consolidated Entities (Details) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Equity Method Investments [Line Items] | ||
Other Assets | $ 2,675 | $ 2,720 |
Property, Plant and Equipment, Net | 5,247 | 5,460 |
Total Assets | 8,442 | 8,836 |
Liabilities | 6,143 | $ 6,297 |
November 2015 Drop Down Assets [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Other Assets | 175 | |
Property, Plant and Equipment, Net | 417 | |
Intangible Assets | 2 | |
Total Assets | 594 | |
Liabilities | 206 | |
Noncontrolling Interest in Variable Interest Entity | 22 | |
Net Assets | 366 | |
Alta X and XI TE Holdco [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Other Assets | 17 | |
Property, Plant and Equipment, Net | 443 | |
Intangible Assets | 265 | |
Total Assets | 725 | |
Liabilities | 9 | |
Noncontrolling Interest in Variable Interest Entity | 96 | |
Net Assets | 620 | |
Spring Canyon [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Other Assets | 4 | |
Property, Plant and Equipment, Net | 96 | |
Intangible Assets | 0 | |
Total Assets | 100 | |
Liabilities | 6 | |
Noncontrolling Interest in Variable Interest Entity | 63 | |
Net Assets | $ 31 |
Variable Interest Entities Va42
Variable Interest Entities Variable Interest Entities - Unconsolidated Entities (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2017USD ($)MW | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($)MW | Sep. 30, 2016USD ($) | Oct. 12, 2017USD ($) | Dec. 31, 2016USD ($) | ||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | $ 1,183 | $ 1,183 | $ 1,152 | ||||||
Power Generation Capacity, Megawatts | MW | [1],[2] | 5,203 | 5,203 | ||||||
Operating revenues | $ 265 | $ 272 | [3] | $ 767 | $ 789 | [3] | |||
Operating Income | 95 | 117 | [3] | 271 | 317 | [3] | |||
Net Income (Loss) | 41 | 50 | [3],[4] | 85 | 116 | [3],[4] | |||
Assets, Current | 520 | 520 | 656 | ||||||
Liabilities, Current | 490 | 490 | 472 | ||||||
Liabilities, Noncurrent | 5,653 | 5,653 | 5,825 | ||||||
Four Brothers Solar [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | 221 | 221 | |||||||
Granite Mountain Holdings [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | 81 | 81 | |||||||
Iron Springs Holdings [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | 56 | 56 | |||||||
Gen Conn Energy LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | 102 | 102 | |||||||
NRG DGPV Holdco 1 [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | 71 | 71 | |||||||
NRG RPV Holdco [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | 65 | 65 | |||||||
NRG DGPV Holdco 2 [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | 54 | 54 | |||||||
Payments to Acquire Interest in Subsidiaries and Affiliates | 37 | ||||||||
Due to Affiliate | 2 | $ 2 | |||||||
Remaining Lease Term | 21 years | ||||||||
NRG DGPV Holdco 3 [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | 20 | $ 20 | |||||||
Payments to Acquire Interest in Subsidiaries and Affiliates | 4 | ||||||||
Due to Affiliate | $ 16 | $ 16 | |||||||
Power Generation Capacity, Megawatts | MW | 33 | 33 | |||||||
Remaining Lease Term | 20 years | ||||||||
Utah Portfolio [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Operating revenues | $ 23 | 0 | $ 60 | 0 | |||||
Operating Income | 9 | 0 | 17 | 0 | |||||
Net Income (Loss) | 9 | $ 0 | 17 | $ 0 | |||||
Assets, Current | 25 | 25 | 20 | ||||||
Assets, Noncurrent | 1,091 | 1,091 | 1,105 | ||||||
Liabilities, Current | 9 | 9 | 14 | ||||||
Liabilities, Noncurrent | 21 | 21 | $ 38 | ||||||
Tax Equity Financed Portfolio of Leases [Member] | Maximum [Member] | NRG DGPV Holdco 2 [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | 50 | 50 | |||||||
Tax Equity Financed Portfolio of Leases [Member] | Maximum [Member] | NRG DGPV Holdco 3 [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | $ 50 | $ 50 | |||||||
Subsequent Event [Member] | Tax Equity Financed Portfolio of Leases [Member] | Maximum [Member] | NRG DGPV Holdco 2 [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity investments in affiliates | $ 60 | ||||||||
[1] | Net capacity represents the maximum, or rated, generating capacity of the facility multiplied by the Company's percentage ownership in the facility as of September 30, 2017. | ||||||||
[2] | The Company's total generation capacity is net of 6 MWs for noncontrolling interest for Spring Canyon II and III. The Company's generation capacity including this noncontrolling interest was 5,209 MWs. | ||||||||
[3] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[4] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Variable Interest Entities Va43
Variable Interest Entities Variable Interest Entities - Utah Solar Portfolio (Details) - Utah Portfolio [Member] | Sep. 30, 2017 |
Variable Interest Entity [Line Items] | |
Percentage of Cash Available for Distributions | 50.00% |
Capital Unit, Class A [Member] | |
Variable Interest Entity [Line Items] | |
Percentage of Ownership | 100.00% |
Financial Institutions [Member] | Capital Unit, Class B [Member] | |
Variable Interest Entity [Line Items] | |
Taxable Income Allocation, Pre-Flip | 99.00% |
Taxable Income Allocation, Post-Flip | 50.00% |
Variable Interest Entities Va44
Variable Interest Entities Variable Interest Entities - Debt Held by Unconsolidated Affiliates (Details) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Equity Method Investments [Line Items] | ||
Long-term Debt | $ 5,901 | $ 6,084 |
Agua Caliente [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 16.00% | |
Long-term Debt | $ 833 | |
Debt Instrument, Basis Spread on Libor Rate | 0.375% | |
Agua Caliente Borrower 2 [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Pro-Rate Share of Debt Held by Unconsolidated Affiliates | $ 133 |
Fair Value of Financial Instr45
Fair Value of Financial Instruments Fair Value of Financial Instruments - Balance Sheet Grouping (Details) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 | |
Estimate of Fair Value Measurement [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Financing Receivable, Net | [1] | $ 18 | $ 30 |
Long-term Debt and Capital Lease Obligations, Including Current Maturities | [2] | 5,942 | 6,056 |
Reported Value Measurement [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Financing Receivable, Net | [1] | 18 | 30 |
Long-term Debt and Capital Lease Obligations, Including Current Maturities | [2] | 5,881 | 6,057 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term Debt and Capital Lease Obligations, Including Current Maturities | 1,525 | 1,455 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term Debt and Capital Lease Obligations, Including Current Maturities | $ 4,417 | $ 4,601 | |
[1] | (a) Includes the long-term portion of notes receivable, which is recorded in other noncurrent assets on the Company's consolidated balance sheets. | ||
[2] | (b) Excludes deferred financing costs, which are recorded as a reduction to long-term debt on the Company's consolidated balance sheets. |
Fair Value of Financial Instr46
Fair Value of Financial Instruments Fair Value of Financial Instruments - Recurring Fair Value (Details) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | $ 3,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | $ 66,000,000 | 76,000,000 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 1,000,000 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 0 | 2,000,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | 66,000,000 | 76,000,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets (Liabilities), at Fair Value, Net | 0 | 0 | |
Commodity Contract [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 2,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 1,000,000 | ||
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 1,000,000 | |
Derivative Liability, Fair Value, Gross Liability | [1] | 0 | |
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 0 | 1,000,000 |
Derivative Liability, Fair Value, Gross Liability | [1] | 2,000,000 | 1,000,000 |
Interest Rate Contract [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 1,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 75,000,000 | ||
Interest Rate Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 0 | |
Derivative Liability, Fair Value, Gross Liability | [1] | 0 | |
Interest Rate Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 0 | 1,000,000 |
Derivative Liability, Fair Value, Gross Liability | [1] | $ 64,000,000 | $ 75,000,000 |
[1] | (a) There were no derivative assets or liabilities classified as Level 1 as of September 30, 2017. There were no derivative assets or liabilities classified as Level 3 as of September 30, 2017 and December 31, 2016. |
Fair Value of Financial Instr47
Fair Value of Financial Instruments Fair Value of Financial Instruments - Credit Risk and Derivative FV Measurements (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | |
Fair Value Assets, Valuation Techniques, Impact of Credit Reserve to Fair Value | $ 1 |
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | $ 2,900 |
Estimated Counterparty Credit Risk Exposure to Certain Counterparties, Period | 5 years |
Accounting for Derivative Ins48
Accounting for Derivative Instruments and Hedging Activities Accounting for Derivative Instruments and Hedging Activities - FV of Derivatives (Details) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | $ 3 | |
Derivative Liability, Fair Value, Gross Liability | $ 66 | 76 |
Fair Value of Gross Derivative Assets/(Liabilities), Net | (73) | |
Derivative Asset Fair Value Gross Liability Net Of Derivative Liability Fair Value Gross Asset | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral Net Of Derivative Liability, Fair Value, Amount Offset Against Collateral | (73) | |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 1 | |
Derivative Liability, Fair Value, Gross Liability | 20 | 65 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 2 | |
Derivative Liability, Fair Value, Gross Liability | 46 | 11 |
Interest Rate Contract Current [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | |
Derivative Liability, Fair Value, Gross Liability | 7 | 26 |
Interest Rate Contract Current [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | |
Derivative Liability, Fair Value, Gross Liability | 15 | 5 |
Interest Rate Contract Non Current [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 1 | |
Derivative Liability, Fair Value, Gross Liability | 13 | 39 |
Interest Rate Contract Non Current [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | |
Derivative Liability, Fair Value, Gross Liability | 29 | 5 |
Commodity Contract Current [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 2 | |
Derivative Liability, Fair Value, Gross Liability | 1 | 1 |
Commodity Contract Non Current [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | |
Derivative Liability, Fair Value, Gross Liability | 1 | 0 |
Commodity Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 2 | |
Derivative Liability, Fair Value, Gross Liability | 1 | |
Derivative Asset, Fair Value, Gross Liability | 0 | |
Derivative Liability, Fair Value, Gross Asset | 0 | |
Derivative Asset | 2 | |
Derivative Liability | 1 | |
Fair Value of Gross Derivative Assets/(Liabilities), Net | 1 | |
Derivative Asset Fair Value Gross Liability Net Of Derivative Liability Fair Value Gross Asset | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral Net Of Derivative Liability, Fair Value, Amount Offset Against Collateral | 1 | |
Interest Rate Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 1 | |
Derivative Liability, Fair Value, Gross Liability | 75 | |
Derivative Asset, Fair Value, Gross Liability | 1 | |
Derivative Liability, Fair Value, Gross Asset | 1 | |
Derivative Asset | 0 | |
Derivative Liability | 74 | |
Fair Value of Gross Derivative Assets/(Liabilities), Net | (74) | |
Derivative Asset Fair Value Gross Liability Net Of Derivative Liability Fair Value Gross Asset | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral Net Of Derivative Liability, Fair Value, Amount Offset Against Collateral | (74) | |
Interest [Member] | United States of America, Dollars | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 1,983 | 2,070 |
Natural Gas [Member] | MMbtu [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $ 2 | $ 3 |
Accounting for Derivative Ins49
Accounting for Derivative Instruments and Hedging Activities Accounting for Derivative Instruments and Hedging Activities - AOCI (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Derivative [Line Items] | ||||||||
Accumulated Other Comprehensive Loss, Net of Tax | $ (63) | $ (119) | $ (63) | $ (119) | $ (70) | $ (70) | $ (140) | $ (83) |
Accumulated Other Comprehensive Loss, Cumulative Change in Loss from Cash Flow Hedges, Tax Amount | (16) | (29) | (16) | (29) | ||||
Reclassified from accumulated OCL to income due to realization of previously deferred amounts | 4 | 4 | 10 | 10 | ||||
Mark-to-market of cash flow hedge accounting contracts | 3 | 17 | (3) | (46) | ||||
Accumulated other comprehensive loss | (27) | (48) | (27) | (48) | $ (28) | |||
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3 | 14 | |||||||
Losses expected to be realized from OCL during the next 12 months, Tax Amount | (3) | (3) | ||||||
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net | 0 | 0 | ||||||
Noncontrolling Interest [Member] | ||||||||
Derivative [Line Items] | ||||||||
Accumulated other comprehensive loss | $ (36) | $ (71) | $ (36) | $ (71) |
Accounting for Derivative Ins50
Accounting for Derivative Instruments and Hedging Activities Accounting for Derivative Instruments and Hedging Activities - Impact to Statement of Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest Rate Contract [Member] | Interest Expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized Gain (Loss) on Derivatives | $ 7 | $ 2 | $ (2) | $ (7) |
Long-term Debt Long-term Debt -
Long-term Debt Long-term Debt - Debt Table (Details) - USD ($) $ in Millions | 9 Months Ended | |||
Sep. 30, 2017 | Mar. 27, 2017 | Dec. 31, 2016 | ||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 5,901 | $ 6,084 | ||
Current portion of long-term debt | (300) | (291) | ||
Debt Issuance Costs, Net | (61) | (70) | ||
Long-term Debt, Excluding Current Maturities | 5,520 | 5,696 | ||
Debt Instrument, Unamortized Discount | [1] | (20) | (27) | |
3.5% Convertible Notes due 2019 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 345 | 345 | ||
Debt Instrument, Interest Rate, Stated Percentage | [2] | 3.50% | ||
3.25% Convertible Notes due 2020 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 288 | 288 | ||
Debt Instrument, Interest Rate, Stated Percentage | [2] | 3.25% | ||
5.375% Senior Notes due in 2024 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | $ 500 | 500 | ||
Debt Instrument, Interest Rate, Stated Percentage | [2] | 5.375% | ||
5.00% Senior Notes due in 2026 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | $ 350 | 350 | ||
Debt Instrument, Interest Rate, Stated Percentage | [2] | 5.00% | ||
Agua Caliente Borrower 2 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 41 | 0 | ||
Debt Instrument, Interest Rate, Stated Percentage | [2] | 5.43% | ||
Alpine Financing Agreement, due 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 138 | 145 | ||
Debt Instrument, Description of Variable Rate Basis | [2] | 3-Month LIBOR | ||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||
Alta Wind I-V, lease financing arrangement, due 2034 and 2035 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 940 | 965 | ||
CVSR, due 2037 | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | 746 | 771 | ||
CVSR Holdco due 2037 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 194 | 199 | ||
Debt Instrument, Interest Rate, Stated Percentage | [2] | 4.68% | ||
El Segundo Energy Center, due 2023 | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 400 | 443 | ||
Debt Instrument, Description of Variable Rate Basis | [2] | 3-Month LIBOR | ||
El Segundo Energy Center due 2023 Tranche B [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.375% | |||
El Segundo Energy Center due 2023 Tranche A [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||
Energy Center Minneapolis, due 2017 and 2025 | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 82 | 96 | ||
Energy Center Minneapolis LLC Senior Secured Notes, due 2017 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.95% | |||
Energy Center Minneapolis LLC Senior Secured Notes, due 2025 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | |||
Energy Center Minneapolis Series D Notes, due 2031 | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 125 | 125 | ||
Debt Instrument, Interest Rate, Stated Percentage | [2] | 3.55% | ||
Laredo Ridge Wind, LLC, due in 2026 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 96 | 100 | ||
Debt Instrument, Description of Variable Rate Basis | [2] | 3-Month LIBOR | ||
Debt Instrument, Basis Spread on Variable Rate | 1.875% | |||
Marsh Landing Term Loan Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 334 | 370 | ||
Marsh Landing Tranche A due December 2017 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | [2] | 3-Month LIBOR | ||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||
Marsh Landing Tranche B due 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | [2] | 3-Month LIBOR | ||
Debt Instrument, Basis Spread on Variable Rate | 1.875% | |||
Tapestry Wind LLC due in 2021 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 165 | 172 | ||
Debt Instrument, Description of Variable Rate Basis | [2] | 3-Month LIBOR | ||
Debt Instrument, Basis Spread on Variable Rate | 1.625% | |||
Utah Solar Portfolio, due 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 284 | $ 287 | 287 | |
Debt Instrument, Description of Variable Rate Basis | 1-Month LIBOR | |||
Debt Instrument, Basis Spread on Variable Rate | 2.625% | |||
Viento Funding II, Inc., due in 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 169 | 178 | ||
Debt Instrument, Description of Variable Rate Basis | [2] | 3-Month LIBOR | ||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | |||
Walnut Creek Energy, LLC, due in 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 279 | 310 | ||
Debt Instrument, Description of Variable Rate Basis | [2] | 3-Month LIBOR | ||
Debt Instrument, Basis Spread on Variable Rate | 1.625% | |||
Other Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 425 | 440 | ||
Letters of Credit Outstanding, Amount | 37 | |||
Project [Domain] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 4,418 | $ 4,601 | ||
Minimum [Member] | Alta Wind I-V, lease financing arrangement, due 2034 and 2035 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.696% | |||
Minimum [Member] | CVSR, due 2037 | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 2.339% | |||
Maximum [Member] | Alta Wind I-V, lease financing arrangement, due 2034 and 2035 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.015% | |||
Maximum [Member] | CVSR, due 2037 | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.775% | |||
Letter of Credit [Member] | Agua Caliente Borrower 2 [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | $ 17 | |||
Letter of Credit [Member] | Alpine Financing Agreement, due 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 37 | |||
Letter of Credit [Member] | Alta Wind I-V, lease financing arrangement, due 2034 and 2035 [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 103 | |||
Letter of Credit [Member] | CVSR, due 2037 | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 0 | |||
Letter of Credit [Member] | CVSR Holdco due 2037 [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 13 | |||
Letter of Credit [Member] | El Segundo Energy Center, due 2023 | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 102 | |||
Letter of Credit [Member] | Energy Center Minneapolis, due 2017 and 2025 | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 0 | |||
Letter of Credit [Member] | Energy Center Minneapolis Series D Notes, due 2031 | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 0 | |||
Letter of Credit [Member] | Laredo Ridge Wind, LLC, due in 2026 [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 10 | |||
Letter of Credit [Member] | Marsh Landing Term Loan Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 34 | |||
Letter of Credit [Member] | Tapestry Wind LLC due in 2021 [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 20 | |||
Letter of Credit [Member] | Utah Solar Portfolio, due 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 13 | |||
Letter of Credit [Member] | Viento Funding II, Inc., due in 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | 27 | |||
Letter of Credit [Member] | Walnut Creek Energy, LLC, due in 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit Outstanding, Amount | $ 49 | |||
[1] | Discounts relate to the 2019 Convertible Notes and 2020 Convertible Notes. | |||
[2] | As of September 30, 2017, L+ equals 3 month LIBOR plus x%, except for the Utah Solar Portfolio, where L+ equals 1 month LIBOR plus x% |
Long-term Debt Long-term Debt52
Long-term Debt Long-term Debt - Debt Disclosures (Details) - USD ($) $ in Millions | 2 Months Ended | 9 Months Ended | |||||
Dec. 31, 2016 | Sep. 30, 2017 | Mar. 27, 2017 | Mar. 16, 2017 | Feb. 17, 2017 | Nov. 02, 2016 | ||
Debt Instrument [Line Items] | |||||||
Long-term Debt | $ 6,084 | $ 5,901 | |||||
NRG Yield Revolving Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Line of Credit Facility, Fair Value of Amount Outstanding | $ 0 | ||||||
NRG Energy Center Minneapolis Series F Notes [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Credit Facility, Maximum Borrowing Capacity, Amendment | $ 10 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.60% | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 80 | ||||||
Agua Caliente Borrower 1, due 2038 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt | $ 130 | ||||||
Agua Caliente Borrower 2 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | [1] | 5.43% | |||||
Long-term Debt | 0 | $ 41 | |||||
Utah Solar Portfolio, due 2022 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt | 287 | $ 284 | $ 287 | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.625% | ||||||
Business Combination, Long-term Debt | $ 222 | ||||||
Proceeds from Issuance of Debt | $ 65 | ||||||
Letter of Credit [Member] | NRG Yield Revolving Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Letters of Credit Outstanding, Amount | $ 68 | ||||||
Letter of Credit [Member] | Agua Caliente Borrower 2 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Letters of Credit Outstanding, Amount | 17 | ||||||
Letter of Credit [Member] | Utah Solar Portfolio, due 2022 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Letters of Credit Outstanding, Amount | $ 13 | ||||||
[1] | As of September 30, 2017, L+ equals 3 month LIBOR plus x%, except for the Utah Solar Portfolio, where L+ equals 1 month LIBOR plus x% |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Net Income (Loss) Available to Common Stockholders, Basic | $ 29 | $ 33 | [1] | $ 54 | $ 70 | [1] | |
Common Class A [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Net Income (Loss) Available to Common Stockholders, Basic | [2] | $ 10 | $ 12 | $ 19 | $ 25 | ||
Weighted Average Number of Shares Outstanding, Basic | [2] | 35 | 35 | 35 | 35 | ||
Earnings Per Share, Basic | [2] | $ 0.30 | $ 0.34 | $ 0.56 | $ 0.72 | ||
Net Income (Loss) Available to Common Stockholders, Diluted | [2] | $ 13 | $ 15 | $ 19 | $ 34 | ||
Weighted Average Number of Shares Outstanding, Diluted | [2] | 49 | 49 | 35 | 49 | ||
Earnings Per Share, Diluted | [2] | $ 0.27 | $ 0.30 | $ 0.56 | $ 0.68 | ||
Common Class C [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Net Income (Loss) Available to Common Stockholders, Basic | [2] | $ 19 | $ 21 | $ 35 | $ 45 | ||
Weighted Average Number of Shares Outstanding, Basic | [2] | 64 | 63 | 63 | 63 | ||
Earnings Per Share, Basic | [2] | $ 0.30 | $ 0.34 | $ 0.56 | $ 0.72 | ||
Net Income (Loss) Available to Common Stockholders, Diluted | [2] | $ 21 | $ 24 | $ 35 | $ 45 | ||
Weighted Average Number of Shares Outstanding, Diluted | [2] | 75 | 73 | 63 | 63 | ||
Earnings Per Share, Diluted | [2] | $ 0.29 | $ 0.32 | $ 0.56 | $ 0.72 | ||
3.5% Convertible Notes due 2019 [Member] | Common Class A [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 15 | 0 | |||
3.25% Convertible Notes due 2020 [Member] | Common Class C [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 10 | 10 | |||
[1] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[2] | (a) Basic and diluted earnings per share might not recalculate due to presenting values in millions rather than whole dollars. |
Changes in Capital Structure Ch
Changes in Capital Structure Changes in Capital Structure - Stock Issuance (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017USD ($)$ / sharesshares | Sep. 30, 2017USD ($)$ / sharesshares | |
Class of Stock [Line Items] | ||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | $ 0.01 |
ATM Program, Maximum Dollar Value of Shares to Be Issued | $ 150,000 | $ 150,000 |
Common Stock, Shares, Issued | shares | 987,727 | 1,921,866 |
Proceeds from Issuance of Common Stock, Before Commission Fees | $ 18,000 | $ 35,000 |
Commission Fees | 346 | |
ATM program, dollar value of shares remaining | $ 115,000 | $ 115,000 |
NRG Yield, Inc. [Member] | ||
Class of Stock [Line Items] | ||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 53.70% | |
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Voting Interest | 44.90% |
Changes in Capital Structure 55
Changes in Capital Structure Changes in Capital Structure - Dividends (Details) - $ / shares | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2016 | [1] | Sep. 30, 2017 | Sep. 30, 2016 | [1] | Dec. 31, 2016 | |
Class of Stock [Line Items] | |||||||||
Dividends Per Common Share, Cash Paid | $ 0.28 | $ 0.27 | $ 0.26 | ||||||
Dividends Payable, Date Declared | Oct. 31, 2017 | ||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.288 | ||||||||
Dividends Payable, Date to be Paid | Dec. 15, 2017 | ||||||||
Dividends Payable, Date of Record | Dec. 1, 2017 | ||||||||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |||||||
Common Class A [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Dividends Per Common Share, Cash Paid | 0.28 | $ 0.24 | 0.81 | $ 0.70 | |||||
Common Class C [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Dividends Per Common Share, Cash Paid | $ 0.28 | $ 0.24 | $ 0.81 | $ 0.70 | |||||
[1] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Segment Reporting (Details)
Segment Reporting (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |||
Segment Reporting | |||||||
Operating revenues | $ 265 | $ 272 | [1] | $ 767 | $ 789 | [1] | |
Cost of operations | 78 | 76 | 239 | 238 | |||
Depreciation and amortization | 88 | 75 | [1] | 241 | 224 | [1] | |
General and administrative | 4 | 4 | [1] | 14 | 10 | [1] | |
Acquisition-related transaction and integration costs | 0 | 0 | [1] | 2 | 0 | [1] | |
Operating Income | 95 | 117 | [1] | 271 | 317 | [1] | |
Equity in earnings of unconsolidated affiliates | 28 | 16 | [1] | 63 | 34 | [1] | |
Other income, net | 1 | 1 | [1] | 3 | 3 | [1] | |
Interest expense | (75) | (71) | [1] | (237) | (213) | [1] | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 49 | 63 | [1] | 100 | 141 | [1] | |
Income tax expense | 8 | 13 | [1] | 15 | 25 | [1] | |
Net Income (Loss) | 41 | 50 | [1],[2] | 85 | 116 | [1],[2] | |
Total Assets | 8,442 | 8,442 | $ 8,836 | ||||
Conventional Generation | |||||||
Segment Reporting | |||||||
Operating revenues | 88 | 82 | 246 | 246 | |||
Cost of operations | 16 | 14 | 53 | 53 | |||
Depreciation and amortization | 27 | 20 | 77 | 60 | |||
General and administrative | 0 | 0 | 0 | 0 | |||
Acquisition-related transaction and integration costs | 0 | ||||||
Operating Income | 45 | 48 | 116 | 133 | |||
Equity in earnings of unconsolidated affiliates | 3 | 3 | 9 | 10 | |||
Other income, net | 1 | 1 | 1 | 1 | |||
Interest expense | (13) | (13) | (39) | (36) | |||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 36 | 39 | 87 | 108 | |||
Income tax expense | 0 | 0 | 0 | 0 | |||
Net Income (Loss) | 36 | 39 | 87 | 108 | |||
Total Assets | 1,920 | 1,920 | |||||
Renewables | |||||||
Segment Reporting | |||||||
Operating revenues | 131 | 142 | 391 | 412 | |||
Cost of operations | 33 | 31 | 100 | 98 | |||
Depreciation and amortization | 56 | 50 | 149 | 149 | |||
General and administrative | 0 | 0 | 0 | 0 | |||
Acquisition-related transaction and integration costs | 0 | ||||||
Operating Income | 42 | 61 | 142 | 165 | |||
Equity in earnings of unconsolidated affiliates | 25 | 13 | 54 | 24 | |||
Other income, net | 0 | 0 | 1 | 2 | |||
Interest expense | (39) | (37) | (128) | (115) | |||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 28 | 37 | 69 | 76 | |||
Income tax expense | 0 | 0 | 0 | 0 | |||
Net Income (Loss) | 28 | 37 | 69 | 76 | |||
Total Assets | 5,821 | 5,821 | |||||
Thermal [Member] | |||||||
Segment Reporting | |||||||
Operating revenues | 46 | 48 | 130 | 131 | |||
Cost of operations | 29 | 31 | 86 | 87 | |||
Depreciation and amortization | 5 | 5 | 15 | 15 | |||
General and administrative | 0 | 0 | 0 | 0 | |||
Acquisition-related transaction and integration costs | 0 | ||||||
Operating Income | 12 | 12 | 29 | 29 | |||
Equity in earnings of unconsolidated affiliates | 0 | 0 | 0 | 0 | |||
Other income, net | 0 | 0 | 0 | 0 | |||
Interest expense | (2) | (2) | (7) | (5) | |||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 10 | 10 | 22 | 24 | |||
Income tax expense | 0 | 0 | 0 | 0 | |||
Net Income (Loss) | 10 | 10 | 22 | 24 | |||
Total Assets | 420 | 420 | |||||
Corporate | |||||||
Segment Reporting | |||||||
Operating revenues | 0 | 0 | 0 | 0 | |||
Cost of operations | 0 | 0 | 0 | 0 | |||
Depreciation and amortization | 0 | 0 | 0 | 0 | |||
General and administrative | 4 | 4 | 14 | 10 | |||
Acquisition-related transaction and integration costs | 2 | ||||||
Operating Income | (4) | (4) | (16) | (10) | |||
Equity in earnings of unconsolidated affiliates | 0 | 0 | 0 | 0 | |||
Other income, net | 0 | 0 | 1 | 0 | |||
Interest expense | (21) | (19) | (63) | (57) | |||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (25) | (23) | (78) | (67) | |||
Income tax expense | 8 | 13 | 15 | 25 | |||
Net Income (Loss) | (33) | $ (36) | (93) | $ (92) | |||
Total Assets | $ 281 | $ 281 | |||||
[1] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[2] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Income Taxes (Provision) (Detai
Income Taxes (Provision) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |||
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||||
Income before income taxes | $ 49 | $ 63 | [1] | $ 100 | $ 141 | [1] |
Income tax expense | $ 8 | $ 13 | [1] | $ 15 | $ 25 | [1] |
Effective income tax rate | 16.30% | 20.60% | 15.00% | 17.70% | ||
U.S. federal statutory rate (as a percent) | 35.00% | |||||
[1] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |||
Related Party Transaction | |||||||
General and administrative | $ 4 | $ 4 | [1] | $ 14 | $ 10 | [1] | |
GenOn Energy Services LLC [Member] | |||||||
Related Party Transaction | |||||||
Due to Affiliate | $ 6 | ||||||
NRG [Member] | |||||||
Related Party Transaction | |||||||
Revenue from Related Parties | 3 | 4 | 10 | 10 | |||
NRG RENOM [Member] | |||||||
Related Party Transaction | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 6 | 4 | 16 | 9 | |||
Due to Affiliate | 4 | 4 | 5 | ||||
Thermal [Member] | NRG [Member] | |||||||
Related Party Transaction | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 1 | 1 | 7 | 6 | |||
Marsh Landing [Member] | NRG [Member] | |||||||
Related Party Transaction | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 4 | 4 | 10 | 9 | |||
NRG Yield [Member] | NRG [Member] | |||||||
Related Party Transaction | |||||||
General and administrative | 2 | 2 | 8 | 7 | |||
NRG Yield [Member] | NRG [Member] | Scenario, Plan [Member] | |||||||
Related Party Transaction | |||||||
Management Services Fee, Annual | 8 | ||||||
Operations and Maintenance services [Member] | NRG [Member] | |||||||
Related Party Transaction | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 10 | 9 | 29 | 28 | |||
Due to Affiliate | 21 | 21 | $ 22 | ||||
Due to Affiliate - Noncurrent | 3 | 3 | |||||
Operations and Maintenance services [Member] | GCE Holding LLC [Member] | NRG [Member] | |||||||
Related Party Transaction | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 1 | $ 1 | $ 4 | $ 4 | |||
[1] | (a) Retrospectively adjusted as discussed in Note 1, Nature of Business. |