Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2016 | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | NRG Yield LLC |
Entity Central Index Key | 1,637,757 |
Document Type | 8-K |
Document Period End Date | Dec. 31, 2016 |
Amendment Flag | false |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Operating Revenues | |||||||||||||||||||||
Total operating revenues | $ 232 | $ 272 | $ 283 | $ 234 | $ 224 | $ 256 | $ 259 | $ 214 | $ 1,021 | [3] | $ 953 | [3] | $ 828 | [3] | |||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | [3] | 306 | 321 | 277 | |||||||||||||||||
Depreciation and amortization | [3] | 297 | 297 | 233 | |||||||||||||||||
Impairment losses | [3],[4] | 183 | 0 | 0 | |||||||||||||||||
General and administrative | [3] | 14 | 10 | 8 | |||||||||||||||||
Acquisition-related transaction and integration costs | [3] | 1 | 3 | 4 | |||||||||||||||||
Total operating costs and expenses | [3] | 801 | 631 | 522 | |||||||||||||||||
Operating Income | (99) | 118 | 128 | 73 | 71 | 102 | 99 | 50 | 220 | [3] | 322 | [3] | 306 | [3] | |||||||
Costs and Expenses [Abstract] | |||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | [3],[4] | 60 | 31 | 22 | |||||||||||||||||
Other income, net | [3] | 3 | 3 | 6 | |||||||||||||||||
Loss on debt extinguishment | [3],[4] | 0 | (9) | (1) | |||||||||||||||||
Interest expense | [3] | (268) | (254) | (211) | |||||||||||||||||
Total other income (expense), net | [3] | (205) | (229) | (184) | |||||||||||||||||
Net Income | $ (139) | $ 67 | $ 81 | $ 6 | $ 20 | $ 47 | $ 50 | $ (24) | 15 | [3],[5] | 93 | [3],[5],[6] | 122 | [3],[5],[6] | |||||||
Net (Loss) Income Attributable to Noncontrolling Interest | [3] | (142) | (51) | 3 | |||||||||||||||||
Net Income Attributable to NRG Yield LLC | [3] | $ 157 | $ 144 | $ 119 | |||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[5] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[6] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Statement of Comprehensive Income [Abstract] | |||||||||||||||||||||
Net Income (Loss) | $ (139) | $ 67 | $ 81 | $ 6 | $ 20 | $ 47 | $ 50 | $ (24) | $ 15 | [3],[4] | $ 93 | [3],[4],[5] | $ 122 | [3],[4],[5] | |||||||
Other Comprehensive Loss, net of tax | |||||||||||||||||||||
Unrealized (loss) gain on derivatives | [4] | 13 | (17) | (65) | |||||||||||||||||
Other comprehensive (loss) income | [4] | 13 | (17) | (65) | |||||||||||||||||
Comprehensive Income | [4] | 28 | 76 | 57 | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | [4] | 142 | 52 | (1) | |||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | [4] | $ 170 | $ 128 | $ 56 | |||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[5] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | ||
Current Assets | ||||
Cash and cash equivalents | [1],[2] | $ 321 | $ 110 | |
Restricted cash | [1] | 165 | 131 | |
Accounts receivable — trade | 92 | [1] | 101 | |
Accounts receivable — affiliate | [1] | 1 | 4 | |
Inventory | [1] | 39 | 36 | |
Derivative instruments — affiliate | [1] | 2 | 0 | |
Notes receivable | [1] | 16 | 17 | |
Prepayments and other current assets | [1] | 20 | 20 | |
Total current assets | [1] | 656 | 419 | |
Property, Plant and Equipment, Net | [1] | 5,460 | 5,878 | |
Other Assets | ||||
Equity investments in affiliates | [1] | 1,152 | 797 | |
Notes receivable | [1] | 14 | 30 | |
Intangible assets, net | [1] | 1,286 | 1,362 | |
Derivative Asset, Noncurrent | [1] | 1 | 0 | |
Other non-current assets | [1] | 51 | 136 | |
Total other assets | [1] | 2,504 | 2,325 | |
Total Assets | [1] | 8,620 | 8,622 | |
Current Liabilities | ||||
Current portion of long-term debt — external | [1] | 291 | 264 | |
Accounts payable — trade | [1] | 23 | 23 | |
Accounts payable — affiliate | [1] | 40 | 86 | |
Derivative instruments | [1] | 32 | 39 | |
Accrued expenses and other current liabilities | [1] | 85 | 76 | |
Total current liabilities | [1] | 471 | 488 | |
Other Liabilities | ||||
Long-term debt — external | [1] | 5,098 | 4,743 | |
Long-term debt — affiliate | [1] | 618 | 618 | |
Due to Related Parties, Noncurrent | [1] | 9 | 0 | |
Derivative instruments | [1] | 44 | 61 | |
Other non-current liabilities | [1] | 76 | 72 | |
Total non-current liabilities | [1] | 5,845 | 5,494 | |
Total Liabilities | [1] | 6,316 | 5,982 | |
Members' Equity | ||||
Contributed capital | [1] | 1,995 | 2,176 | |
Retained earnings | [1] | 79 | 100 | |
Accumulated other comprehensive loss | [1] | (83) | (96) | |
Members' Equity Attributable to Noncontrolling Interest | [1] | 313 | 460 | |
Total Members' Equity | [1] | 2,304 | 2,640 | |
Total Liabilities and Members’ Equity | [1] | $ 8,620 | $ 8,622 | |
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Consolidated Statements Of Cas
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Cash Flows from Operating Activities | |||||||
Net Income (Loss) | [1],[2] | $ 15 | $ 93 | [3] | $ 122 | [3] | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||||||
Equity in earnings of unconsolidated affiliates | [1],[4] | (60) | (31) | (22) | |||
Distributions from unconsolidated affiliates | [4] | 58 | 60 | 21 | |||
Depreciation, amortization and ARO accretion | [4] | 300 | 299 | 235 | |||
Amortization of financing costs | [4] | 8 | 7 | 6 | |||
Amortization of intangibles and out-of-market contracts | [4] | 75 | 54 | 28 | |||
Loss on debt extinguishment | [1],[4] | 0 | 9 | 1 | |||
Impairment losses | [1],[4] | 183 | 0 | 0 | |||
Changes in derivative instruments | [4] | (15) | (43) | (12) | |||
Loss on disposal of asset components | [4] | 6 | 3 | 0 | |||
Changes in prepaid and accrued capacity payments | [4] | (8) | (12) | 0 | |||
Changes in other working capital | [4] | 7 | (18) | (17) | |||
Net Cash Provided by Operating Activities | [4] | 569 | 421 | 362 | |||
Cash Flows from Investing Activities | |||||||
Acquisition of businesses, net of cash acquired | [4] | 0 | 37 | 901 | |||
Acquisition of Drop Down Assets, net of cash acquired | [4] | 77 | [5] | 698 | 311 | ||
Capital expenditures | [4] | (20) | (29) | (60) | |||
Receipt of indemnity from supplier | [4] | 0 | 0 | 57 | |||
(Increase) decrease in restricted cash | [4] | (34) | (1) | 25 | |||
Cash receipts from notes receivable | [4] | 17 | 17 | 14 | |||
Proceeds from renewable energy grants | [4] | 0 | 0 | 422 | |||
Return of investment from unconsolidated affiliates | [4] | 28 | 42 | 4 | |||
Investments in unconsolidated affiliates | [4] | (83) | (402) | (2) | |||
Other | [4] | 4 | 0 | 11 | |||
Net Cash Used in Investing Activities | [4] | (165) | (1,108) | (741) | |||
Cash Flows from Financing Activities | |||||||
Contributions from tax equity investors, net of distributions | [4] | 5 | 122 | 190 | |||
Capital contributions from NRG | [4] | 0 | 0 | 2 | |||
Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets | [4] | (170) | (76) | (333) | |||
Proceeds from the issuance of class A and class C units | [4] | 0 | 599 | 630 | |||
Payments of distributions | [4] | (183) | (139) | (101) | |||
Proceeds from the revolving credit facility | [4] | 60 | 551 | 500 | |||
Payments for the revolving credit facility | [4] | 366 | 245 | 0 | |||
Proceeds from issuance of long-term debt — external | [4] | 740 | 6 | 178 | |||
Proceeds from issuance of long-term debt — affiliate | [4] | 0 | 281 | 337 | |||
Payments of debt issuance costs | [4] | (15) | (7) | (28) | |||
Payments for long-term debt — external | [4] | (264) | (724) | (626) | |||
Net Cash (Used in) Provided by Financing Activities | [4] | (193) | 368 | 749 | |||
Net (Decrease) Increase in Cash and Cash Equivalents | [4] | 211 | (319) | 370 | |||
Cash and Cash Equivalents at Beginning of Period | [4] | 110 | [6] | 429 | 59 | ||
Cash and Cash Equivalents at End of Period | [4] | 321 | [6] | 110 | [6] | 429 | |
Supplemental Disclosures | |||||||
Interest paid, net of amount capitalized | [4] | (266) | (274) | (192) | |||
Non-cash investing and financing activities: | |||||||
Additions (reductions) to fixed assets for accrued capital expenditures | [4] | 3 | 1 | (21) | |||
Decrease to fixed assets for accrued grants | [4] | 0 | 0 | 34 | |||
Increase in debt due to accrued interest converted to debt | [4] | 0 | 0 | 11 | |||
Net contributions from NRG (net distributions/return of capital to NRG), non cash | [4] | $ (66) | $ 13 | $ (1,058) | |||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[3] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | ||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[5] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[6] | Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Consolidated Statements of Memb
Consolidated Statements of Members' Equity Statement - USD ($) $ in Millions | Total | Additional Paid-in Capital [Member] | Retained Earnings, Unappropriated [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | NRG [Member] | NRG [Member]Additional Paid-in Capital [Member] | NRG [Member]Retained Earnings, Unappropriated [Member] | NRG [Member]AOCI Attributable to Parent [Member] | NRG [Member]Noncontrolling Interest [Member] | NRG Yield, Inc. [Member] | NRG Yield, Inc. [Member]Additional Paid-in Capital [Member] | NRG Yield, Inc. [Member]Retained Earnings, Unappropriated [Member] | NRG Yield, Inc. [Member]AOCI Attributable to Parent [Member] | NRG Yield, Inc. [Member]Noncontrolling Interest [Member] | |||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | Scenario, Previously Reported [Member] | [1] | $ 1,444 | $ 1,302 | $ 101 | $ (17) | $ 58 | ||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,549 | 1,393 | 115 | (17) | 58 | |||||||||||||||||
Net Assets Acquired, Drop Down Assets | 105 | 91 | 14 | 0 | 0 | |||||||||||||||||
Net Income | Scenario, Previously Reported [Member] | 108 | |||||||||||||||||||||
Net Income | [4] | 122 | [2],[3] | 0 | 119 | 0 | 3 | |||||||||||||||
Unrealized Gain (Loss) on Derivatives | [4] | (65) | 0 | 0 | (63) | (2) | ||||||||||||||||
Gross Payment to Acquire Business under Common Control | (357) | (357) | 0 | 0 | 0 | |||||||||||||||||
Acquisition of Drop Down Assets, net of cash acquired | [5] | (311) | ||||||||||||||||||||
Net contributions from NRG (net distributions/return of capital to NRG), non cash | 1,058 | [5] | $ (1,058) | [4],[6] | $ (922) | [4],[6] | $ 0 | [4],[6] | $ 0 | [4],[6] | $ (136) | [4],[6] | ||||||||||
Proceeds from the issuance of class A and class C units | 630 | [5] | 630 | 0 | 0 | 0 | ||||||||||||||||
Payment of capital distributions and returns of capital, net of capital contributions | (331) | (280) | 0 | 0 | (51) | |||||||||||||||||
Contributions from tax equity investors, net of distributions | 190 | [5] | 0 | 0 | 0 | 190 | ||||||||||||||||
Payments of Ordinary Dividends, Common Stock | (60) | 0 | (60) | 0 | 0 | $ (41) | $ 0 | $ (41) | $ 0 | $ 0 | ||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,695 | 2,308 | 133 | (80) | 334 | |||||||||||||||||
Net Income | Scenario, Previously Reported [Member] | 78 | |||||||||||||||||||||
Net Income | [4] | 93 | [2],[3] | 0 | 144 | 0 | (51) | |||||||||||||||
Unrealized Gain (Loss) on Derivatives | [4] | (17) | 0 | 0 | (16) | (1) | ||||||||||||||||
Acquisition of Drop Down Assets, net of cash acquired | (698) | [5] | (698) | 0 | 0 | 0 | ||||||||||||||||
Net contributions from NRG (net distributions/return of capital to NRG), non cash | (13) | [5] | (13) | [4] | (5) | [4] | [4] | 0 | [4] | (8) | [4] | |||||||||||
Noncontrolling Interest, Increase from Business Combination | 74 | 0 | 0 | 0 | 74 | |||||||||||||||||
Proceeds from the issuance of class A and class C units | 599 | [5] | 599 | 0 | 0 | 0 | ||||||||||||||||
Payment of capital distributions and returns of capital, net of capital contributions | [4] | (76) | (28) | (38) | 0 | (10) | ||||||||||||||||
Contributions from tax equity investors, net of distributions | 122 | [5] | 0 | 0 | 0 | 122 | ||||||||||||||||
Payments of Ordinary Dividends, Common Stock | (70) | 0 | (70) | 0 | 0 | (69) | 0 | (69) | 0 | 0 | ||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,640 | 2,176 | 100 | (96) | 460 | |||||||||||||||||
Net Income | Scenario, Previously Reported [Member] | [2] | (2) | ||||||||||||||||||||
Net Income | 15 | [2],[3] | 0 | 157 | 0 | (142) | ||||||||||||||||
Unrealized Gain (Loss) on Derivatives | 13 | 0 | 0 | 13 | 0 | |||||||||||||||||
Acquisition of Drop Down Assets, net of cash acquired | (77) | [5],[7] | (77) | 0 | 0 | 0 | ||||||||||||||||
Net contributions from NRG (net distributions/return of capital to NRG), non cash | 66 | [5] | 66 | 66 | 0 | 0 | 0 | (5) | 0 | (5) | 0 | 0 | ||||||||||
Proceeds from the issuance of class A and class C units | [5] | 0 | ||||||||||||||||||||
Payment of capital distributions and returns of capital, net of capital contributions | (180) | (170) | 0 | 0 | (10) | |||||||||||||||||
Contributions from tax equity investors, net of distributions | 5 | [5] | 0 | 0 | 0 | 5 | ||||||||||||||||
Payments of Ordinary Dividends, Common Stock | $ (81) | $ 0 | $ (81) | $ 0 | $ 0 | $ (92) | $ 0 | $ (92) | $ 0 | $ 0 | ||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 2,304 | $ 1,995 | $ 79 | $ (83) | $ 313 | |||||||||||||||||
[1] | As previously reported in the Company's audited financial statements for the year ended December 31, 2016, included in the Company's 2016 Form 10-K. | |||||||||||||||||||||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||
[4] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | |||||||||||||||||||||
[5] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||
[6] | Capital contributions from NRG, non-cash, primarily represent Drop Down Assets' equity transferred from NRG to the Company in accordance with guidance on business combinations between entities under common control, as further described in Note 1, Nature of Business. | |||||||||||||||||||||
[7] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Nature of Business
Nature of Business | 12 Months Ended |
Dec. 31, 2016 | |
Nature of Business Disclosure [Abstract] | |
Nature of Business | Nature of Business NRG Yield LLC, together with its consolidated subsidiaries, or the Company, is the primary vehicle through which NRG owns, operates and acquires contracted renewable and conventional generation and thermal infrastructure assets. NRG owns 100% of the Company's Class B units and Class D units and receives distributions through its ownership of these units. NRG Yield, Inc., or Yield, Inc., owns 100% of the Company's Class A units and Class C units. NRG Yield LLC, through its wholly owned subsidiary, NRG Yield Operating LLC, or Yield Operating LLC, holds a portfolio of renewable and conventional generation and thermal infrastructure assets, primarily located in the Northeast, Southwest, Midwest and California regions of the U.S. Yield, Inc. closed its initial public offering of Class A common stock in July 2013, which was then followed by a Class A common stock offering in July 2014, a Recapitalization in May 2015, as described below, and a Class C common stock offering in June 2015. Effective May 14, 2015, Yield, Inc. amended its certificate of incorporation to create two new classes of capital stock, Class C common stock and Class D common stock, and distributed shares of the Class C common stock and Class D common stock to holders of Yield, Inc.'s outstanding Class A common stock and Class B common stock, respectively, through a stock split. The stock split is referred to as the Recapitalization. The Company also amended its operating agreement to reflect the Recapitalization. Effective May 14, 2015, each Class A unit of the Company was automatically reclassified into one Class A unit and one Class C unit and each Class B unit of the Company was automatically reclassified into one Class B unit and one Class D unit. The following table represents the structure of the Company as of December 31, 2016 : As of December 31, 2016 , 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 (e) 50 % 265 PacifiCorp 2036 921 Distributed Solar AZ DG Solar Projects 100 % 5 Various 2025 - 2033 PFMG DG Solar Projects 51 % 4 Various 2032 9 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) 74.3 % 16 Corn Belt Power Cooperative 2027 Elbow Creek (b) 75 % 92 NRG Power Marketing LLC 2022 Elkhorn Ridge (b) 50.3 % 41 Nebraska Public Power District 2029 Forward (b) 75 % 22 Constellation NewEnergy, Inc. 2017 Goat Wind (b) 74.9 % 113 Dow Pipeline Company 2025 Hardin (b) 74.3 % 11 Interstate Power and Light Company 2027 Laredo Ridge 100 % 80 Nebraska Public Power District 2031 Lookout (b) 75 % 29 Southern Maryland Electric Cooperative 2030 Odin (b) 74.9 % 15 Missouri River Energy Services 2028 Pinnacle 100 % 55 Maryland Department of General Services and University System of Maryland 2031 San Juan Mesa (b) 56.3 % 68 Southwestern Public Service Company 2025 Projects Percentage Ownership Net Capacity (MW) (a) Offtake Counterparty Expiration Sleeping Bear (b) 75 % 71 Public Service Company of Oklahoma 2032 South Trent 100 % 101 AEP Energy Partners 2029 Spanish Fork (b) 75 % 14 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) 74.9 % 121 Southwestern Public Service Company 2027 1,999 Thermal Thermal equivalent MWt (c) 100 % 1,319 Various Various NRG Energy Center Dover LLC 100 % 103 NRG Power Marketing LLC 2018 Thermal generation 100 % 20 Various Various 1,442 Total net capacity (excluding equivalent MWt) (d) 4,997 (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 December 31, 2016 . (b) Projects are part of tax equity arrangements. (c) 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. (d) NRG Yield's total generation capacity is net of 6 MWs for noncontrolling interest for Spring Canyon II and III. NRG Yield's generation capacity including this noncontrolling interest was 5,003 MWs. (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 acquisition (ownership percentage is based upon cash to be distributed). 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 131 MW based on cash to be distributed. For further discussions, refer to Note 5 , Investments Accounted for by the Equity Method and Variable Interest Entities to the Consolidated Financial Statements. 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. Three out of the fourteen district energy systems are subject to rate regulation by state public utility commissions while the other district energy systems have rates determined by negotiated bilateral contracts. As described in Note 13 , Related Party Transactions , the Company has a management services agreement with NRG for various services, including human resources, accounting, tax, legal, information systems, treasury, and risk management. During the years ending December 31, 2016 and 2015 the Company completed three acquisitions of Drop Down Assets from NRG. 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). For further discussion, see Note 3 , Business Acquisitions . In addition, as further described in Note 3 , Business Acquisitions , on March 27, 2017, the Company acquired the following 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 NRG 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 Utah Solar Portfolio. The Company paid total cash consideration of $130 million , plus a $1 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 acquisition of the March 2017 Drop Down Assets was accounted for as a transfer of entities under common control. 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 Aqua Caliente Borrower 2 LLC from the beginning of the financial statement period, and its interests in the Utah Solar Portfolio from November 2, 2016. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The Company's consolidated financial statements have been prepared in accordance with GAAP. The ASC is the source of authoritative GAAP to be applied by nongovernmental entities. In addition, the rules and interpretative releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The consolidated financial statements include the Company's accounts and operations and those of its subsidiaries in which it has a controlling interest. All significant intercompany transactions and balances have been eliminated in consolidation. The usual condition for a controlling financial interest is ownership of a majority of the voting interests of an entity. However, a controlling financial interest may also exist through arrangements that do not involve controlling voting interests. As such, the Company applies the guidance of ASC 810, Consolidations, or ASC 810, to determine when an entity that is insufficiently capitalized or not controlled through its voting interests, referred to as a variable interest entity, or VIE, should be consolidated. Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments with an original maturity of three months or less at the time of purchase. Cash and cash equivalents held at project subsidiaries was $110 million and $93 million as of December 31, 2016 and 2015 , respectively. Restricted Cash Restricted cash consists primarily of funds held to satisfy the requirements of certain debt agreements and funds held within the Company's projects that are restricted in their use. Of these funds as of December 31, 2016 , approximately $25 million is designated for current debt service payments, $13 million is designated to fund operating expenses and $37 million is designated for distributions to the Company, with the remaining $90 million restricted for reserves including debt service, performance obligations and other reserves, as well as capital expenditures. Trade Receivables and Allowance for Doubtful Accounts Trade receivables are reported on the balance sheet at the invoiced amount adjusted for any write-offs and the allowance for doubtful accounts. The allowance for doubtful accounts is reviewed periodically based on amounts past due and significance. The allowance for doubtful accounts was immaterial as of December 31, 2016 and 2015 . Inventory Inventory consists principally of spare parts and fuel oil. Spare parts inventory is valued at weighted average cost, unless evidence indicates that the weighted average cost will not be recovered with a normal profit in the ordinary course of business. Fuel oil inventory is valued at the lower of weighted average cost or market. The Company removes fuel inventories as they are used in the production of steam, chilled water or electricity. Spare parts inventory are removed when they are used for repairs, maintenance or capital projects. Property, Plant and Equipment Property, plant and equipment are stated at cost or, in the case of third party business acquisitions, fair value; however impairment adjustments are recorded whenever events or changes in circumstances indicate that their carrying values may not be recoverable. See Note 3 , Business Acquisitions , for more information on acquired property, plant and equipment. Significant additions or improvements extending asset lives are capitalized as incurred, while repairs and maintenance that do not improve or extend the life of the respective asset are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives. Certain assets and their related accumulated depreciation amounts are adjusted for asset retirements and disposals with the resulting gain or loss included in cost of operations in the consolidated statements of operations. Asset Impairments Long-lived assets that are held and used are reviewed for impairment whenever events or changes in circumstances indicate carrying values may not be recoverable. Such reviews are performed in accordance with ASC 360. An impairment loss is indicated if the total future estimated undiscounted cash flows expected from an asset are less than its carrying value. An impairment charge is measured by the difference between an asset's carrying amount and fair value with the difference recorded in operating costs and expenses in the statements of operations. Fair values are determined by a variety of valuation methods, including appraisals, sales prices of similar assets and present value techniques. For further discussion of the Company's long-lived asset impairments, refer to Note 9 , Asset Impairments . Investments accounted for by the equity method are reviewed for impairment in accordance with ASC 323, Investments-Equity Method and Joint Ventures , which requires that a loss in value of an investment that is an other-than-temporary decline should be recognized. The Company identifies and measures losses in the value of equity method investments based upon a comparison of fair value to carrying value. Debt Issuance Costs Debt issuance costs are capitalized and amortized as interest expense on a basis which approximates the effective interest method over the term of the related debt. Debt issuance costs related to the long term debt are presented as a direct deduction from the carrying amount of the related debt in both the current and prior periods. Debt issuance costs related to the senior secured revolving credit facility line of credit are recorded as a non-current asset on the balance sheet and are amortized over the term of the loan. Intangible Assets Intangible assets represent contractual rights held by the Company. The Company recognizes specifically identifiable intangible assets including power purchase agreements, leasehold improvements, customer relationships, customer contracts, and development rights when specific rights and contracts are acquired. These intangible assets are amortized primarily on a straight-line basis. Notes Receivable Notes receivable consist of receivables related to the financing of required network upgrades. The notes issued with respect to network upgrades will be repaid within a 5-year period following the date each facility reached commercial operations. Income Taxes The Company is classified as a partnership for federal and state income tax purposes. Therefore, federal and state income taxes are assessed at the partner level. Accordingly, no provision has been made for federal or state income taxes in the accompanying financial statements. Revenue Recognition Thermal Revenues Steam and chilled water revenue is recognized based on customer usage as determined by meter readings taken at month-end. Some locations read customer meters throughout the month, and recognize estimated revenue for the period between meter read date and month-end. The Thermal Business subsidiaries collect and remit state and local taxes associated with sales to their customers, as required by governmental authorities. These taxes are presented on a net basis in the income statement. Power Purchase Agreements, or PPAs The majority of the Company’s revenues are obtained through PPAs or other contractual agreements, which are accounted for as operating leases under ASC 840. ASC 840 requires the minimum lease payments received to be amortized over the term of the lease and contingent rentals are recorded when the achievement of the contingency becomes probable. Judgment is required by management in determining the economic life of each generating facility, in evaluating whether certain lease provisions constitute minimum payments or represent contingent rent and other factors in determining whether a contract contains a lease and whether the lease is an operating lease or capital lease. Certain of these leases have no minimum lease payments and all of the rental income under these leases is recorded as contingent rent on an actual basis when the electricity is delivered. The contingent rental income recognized in the years ended December 31, 2016 , 2015 and 2014 was $553 million , $416 million and $296 million , respectively. Derivative Financial Instruments The Company accounts for derivative financial instruments under ASC 815, Derivatives and Hedging , or ASC 815, which requires the Company to record all derivatives on the balance sheet at fair value unless they qualify for a NPNS exception. Changes in the fair value of non-hedge derivatives are immediately recognized in earnings. Changes in the fair value of derivatives accounted for as hedges, if elected for hedge accounting, are either: • Recognized in earnings as an offset to the changes in the fair value of the related hedged assets, liabilities and firm commitments; or • Deferred and recorded as a component of accumulated OCI until the hedged transactions occur and are recognized in earnings. The Company's primary derivative instruments are power purchase or sale contracts used to mitigate variability in earnings due to fluctuations in market prices, fuels purchase contracts used to control customer reimbursable fuel cost, and interest rate instruments used to mitigate variability in earnings due to fluctuations in interest rates. On an ongoing basis, the Company assesses the effectiveness of all derivatives that are designated as hedges for accounting purposes in order to determine that each derivative continues to be highly effective in offsetting changes in fair values or cash flows of hedged items. Internal analyses that measure the statistical correlation between the derivative and the associated hedged item determine the effectiveness of such a contract designated as a hedge. If it is determined that the derivative instrument is not highly effective as a hedge, hedge accounting will be discontinued prospectively. In this case, the gain or loss previously deferred in accumulated OCI would be frozen until the underlying hedged item is delivered unless the transaction being hedged is no longer probable of occurring in which case the amount in OCI would be immediately reclassified into earnings. If the derivative instrument is terminated, the effective portion of this derivative deferred in accumulated OCI will be frozen until the underlying hedged item is delivered. Revenues and expenses on contracts that qualify for the NPNS exception are recognized when the underlying physical transaction is delivered. While these contracts are considered derivative financial instruments under ASC 815, they are not recorded at fair value, but on an accrual basis of accounting. If it is determined that a transaction designated as NPNS no longer meets the scope exception, the fair value of the related contract is recorded on the balance sheet and immediately recognized through earnings. Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of accounts receivable, notes receivable and derivative instruments, which are concentrated within entities engaged in the energy and financial industry. These industry concentrations may impact the overall exposure to credit risk, either positively or negatively, in that the customers may be similarly affected by changes in economic, industry or other conditions. In addition, many of the Company's projects have only one customer. However, the Company believes that the credit risk posed by industry concentration is offset by the diversification and creditworthiness of its customer base. See Note 6 , Fair Value of Financial Instruments , for a further discussion of derivative concentrations and Note 12 , Segment Reporting , for concentration of counterparties. Fair Value of Financial Instruments The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, accounts receivable - affiliate, accounts payable, current portion of account payable - affiliate, and accrued expenses and other current liabilities approximate fair value because of the short-term maturity of these instruments. See Note 6 , Fair Value of Financial Instruments , for a further discussion of fair value of financial instruments. Asset Retirement Obligations Asset retirement obligations, or AROs, are accounted for in accordance with ASC 410-20, Asset Retirement Obligations, or ASC 410-20. Retirement obligations associated with long-lived assets included within the scope of ASC 410-20 are those for which a legal obligation exists under enacted laws, statutes, and written or oral contracts, including obligations arising under the doctrine of promissory estoppel, and for which the timing and/or method of settlement may be conditional on a future event. ASC 410-20 requires an entity to recognize the fair value of a liability for an ARO in the period in which it is incurred and a reasonable estimate of fair value can be made. Upon initial recognition of a liability for an ARO, the asset retirement cost is capitalized by increasing the carrying amount of the related long-lived asset by the same amount. Over time, the liability is accreted to its future value, while the capitalized cost is depreciated over the useful life of the related asset. The Company's AROs are primarily related to the future dismantlement of equipment on leased property and environmental obligations related to site closures and fuel storage facilities. The Company records AROs as part of other non-current liabilities on its balance sheet. The following table represents the balance of ARO obligations as of December 31, 2016 and 2015 , along with the additions and accretion related to the Company's ARO obligations for the year ended December 31, 2016 : (In millions) Balance as of December 31, 2015 $ 43 Revisions in estimates for current obligations 2 Accretion — expense 3 Balance as of December 31, 2016 $ 48 Guarantees The Company enters into various contracts that include indemnification and guarantee provisions as a routine part of its business activities. Examples of these contracts include operation and maintenance agreements, service agreements, commercial sales arrangements and other types of contractual agreements with vendors and other third parties, as well as affiliates. These contracts generally indemnify the counterparty for tax, environmental liability, litigation and other matters, as well as breaches of representations, warranties and covenants set forth in these agreements. Because many of the guarantees and indemnities the Company issues to third parties and affiliates do not limit the amount or duration of its obligations to perform under them, there exists a risk that the Company may have obligations in excess of the amounts agreed upon in the contracts mentioned above. For those guarantees and indemnities that do not limit the liability exposure, the Company may not be able to estimate what the liability would be, until a claim is made for payment or performance, due to the contingent nature of these contracts. Investments Accounted for by the Equity Method The Company has investments in various energy projects accounted for by the equity method, seven of which are VIEs, where the Company is not a primary beneficiary, and two of which are owned by a subsidiary that is consolidated as a VIE, as described in Note 5 , Investments Accounted for by the Equity Method and Variable Interest Entities . The equity method of accounting is applied to these investments in affiliates because the ownership structure prevents the Company from exercising a controlling influence over the operating and financial policies of the projects. Under this method, equity in pre-tax income or losses of the investments is reflected as equity in earnings of unconsolidated affiliates. Distributions from equity method investments that represent earnings on the Company's investment are included within cash flows from operating activities and distributions from equity method investments that represent a return of the Company's investment are included within cash flows from investing activities. Sale Leaseback Arrangements The Company is party to sale-leaseback arrangements that provide for the sale of certain assets to a third party and simultaneous leaseback to the Company. In accordance with ASC 840-40, Sale-Leaseback Transactions , if the seller-lessee retains, through the leaseback, substantially all of the benefits and risks incident to the ownership of the property sold, the sale-leaseback transaction is accounted for as a financing arrangement. An example of this type of continuing involvement would include an option to repurchase the assets or the buyer-lessor having the option to sell the assets back to the Company. This provision is included in most of the Company’s sale-leaseback arrangements. As such, the Company accounts for these arrangements as financings. Under the financing method, the Company does not recognize as income any of the sale proceeds received from the lessor that contractually constitutes payment to acquire the assets subject to these arrangements. Instead, the sale proceeds received are accounted for as financing obligations and leaseback payments made by the Company are allocated between interest expense and a reduction to the financing obligation. Interest on the financing obligation is calculated using the Company’s incremental borrowing rate at the inception of the arrangement on the outstanding financing obligation. Judgment is required to determine the appropriate borrowing rate for the arrangement and in determining any gain or loss on the transaction that would be recorded either at the end of or over the lease term. Business Combinations The Company accounts for its business combinations in accordance with ASC 805, Business Combinations, or ASC 805. For third party acquisitions, ASC 805 requires an acquirer to recognize and measure in its financial statements the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree at fair value at the acquisition date. It also recognizes and measures the goodwill acquired or a gain from a bargain purchase in the business combination and determines what information to disclose to enable users of an entity's financial statements to evaluate the nature and financial effects of the business combination. In addition, transaction costs are expensed as incurred. For acquisitions that relate to entities under common control, ASC 805 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 of from the date the entities were under common control (if later than the beginning of the financial statement period). The difference between the cash paid and historical value of the entities' equity is recorded as a distribution/contribution from/to NRG with the offset to contributed capital. Transaction costs are expensed as incurred. 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 amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during the reporting period. Actual results could be different from these estimates. In recording transactions and balances resulting from business operations, the Company uses estimates based on the best information available. Estimates are used for such items as plant depreciable lives, uncollectible accounts, environmental liabilities, acquisition accounting and legal costs incurred in connection with recorded loss contingencies, among others. In addition, estimates are used to test long-lived assets for impairment and to determine the fair value of impaired assets. As better information becomes available or actual amounts are determinable, the recorded estimates are revised. Consequently, operating results can be affected by revisions to prior accounting estimates. Tax Equity Arrangements Certain portions of the Company’s noncontrolling interests in subsidiaries represent third-party interests in the net assets under certain tax equity arrangements, which are consolidated by the Company, that have been entered into to finance the cost of wind facilities eligible for certain tax credits. Additionally, certain portions of the Company’s investments in unconsolidated affiliates reflect the Company’s interests in tax equity arrangements, that are not consolidated by the Company, that have been entered into to finance the cost of distributed solar energy systems under operating leases or PPAs eligible for certain tax credits. The Company has determined that the provisions in the contractual agreements of these structures represent substantive profit sharing arrangements. Further, the Company has determined that the appropriate methodology for calculating the noncontrolling interest and investment in unconsolidated affiliates that reflects the substantive profit sharing arrangements is a balance sheet approach utilizing the hypothetical liquidation at book value, or HLBV, method. Under the HLBV method, the amounts reported as noncontrolling interests and investment in unconsolidated affiliates represent the amounts the investors to the tax equity arrangements would hypothetically receive at each balance sheet date under the liquidation provisions of the contractual agreements, assuming the net assets of the funding structures were liquidated at their recorded amounts determined in accordance with GAAP. The investors’ interests in the results of operations of the funding structures are determined as the difference in noncontrolling interests and investment in unconsolidated affiliates at the start and end of each reporting period, after taking into account any capital transactions between the structures and the funds’ investors. The calculations utilized to apply the HLBV method include estimated calculations of taxable income or losses for each reporting period. Reclassifications Certain prior year amounts have been reclassified for comparative purposes. Recent Accounting Developments 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 were issued to address the diversity in classification and presentation of changes in restricted cash and restricted cash equivalents on the statement of cash flows which is currently not addressed under Topic 230. The amendments of ASU No. 2016-18 would 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 should be applied retrospectively. The Company is currently evaluating the impact of the standard on the Company’s statement of cash flows. ASU 2016-16 — In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740) , Intra-Entity Transfers of Assets Other Than Inventory, or ASU No. 2016-16. The amendments of ASU No. 2016-16 were issued to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party which has resulted in diversity in practice and increased complexity within financial reporting. The amendments of ASU No. 2016-16 would require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and do not require new disclosure requirements. The amendments of ASU No. 2016-16 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. 2016-16 should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently evaluating the impact of the standard on the Company's results of operations, cash flows and financial position. ASU 2016-15 — In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) , Classification of Certain Cash Receipts and Cash Payments, or ASU No. 2016-15. The amendments of ASU No. 2016-15 were issued to address eight specific cash flow issues for which stakeholders have indicated to the FASB that a diversity in practice existed in how entities were presenting and classifying these items in the statement of cash flows. The issues addressed by ASU No. 2016-15 include but are not limited to the classification of debt prepayment and debt extinguishment costs, payments made for contingent consideration for a business combination, proceeds from the settlement of insurance proceeds, distributions received from equity method investees and separately identifiable cash flows and the application of the predominance principle. The amendments of ASU No. 2016-15 are effective for public entities for fiscal years beginning after December 15, 2017 and interim periods in those fiscal years. Early adoption is permitted, including adoption in an interim fiscal period with all amendments adopted in the same period. The adoption of ASU No. 2016-15 is required to be applied retrospectively. The Company is currently evaluating the impact of the standard on the Company's statement of cash flows. ASU 2016-07 — In March 2016, the FASB issued ASU No. 2016-07, Investments - Equity Method and Joint Ventures (Topic 323), or ASU No. 2016-07. The amendments of ASU No. 2016-07 eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting with no retroactive adjustment to the investment. In addition, ASU No. 2016-07 requires that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The Company adopted this standard effective January 1, 2017. The adoption of ASU No. 2016-07 is required to be applied prospectively. The Company does not expect the standard to have a material impact on its results of operations, cash flows and financial position. ASU 2016-02 — In 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. As this review is still in process, it is currently not practicable to quantify the impact of adopting the ASU at this time. ASU 2016-01 — In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , or ASU No. 2016-01. The amendments of ASU No. 2016-01 eliminate available-for-sale classification of equity investments and require that equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be generally measured at fair value with changes in fair value recognized in net income. Further, the amendments require that financial assets and financial liabilities to be presented separately in the notes to the financial statements, grouped by measurement category and form of financial asset. The guidance in ASU No. 2016-01 is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those annual periods. The Company is currently evaluating the impact of the standard on the Company's results of operations, cash flows and financial position. ASU 2015-16 — In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments , or ASU No. 2015-16. The amendments of ASU No. 2015-16 require that an acquirer recognize measurement period adjustments to the provisional amounts recognized in a business combination in the reporting period during which the adjustments are determined. Additionally, the amendments of ASU No. 2015-16 require the acquirer to record in the same period's financial statements the effect on earnings of changes in depreciation, amortization or other income effects, if any, as a result of the measurement period adjustment, calculated as if the accounting had been completed at the acquisition date as well as disclosing on either the face of the income statement or in the notes the portion of the amount recorded in current period earnings that would have been recorded in previous reporting periods. The guidance in ASU No. 2015-16 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The amendments should be applied prospectively. The Company adopted ASU No. 2015-16 for the year ended December 31, 2016, and the adoption did not have a material impact on the Company's results of operations, cash flows and financial position. 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 Co |
Business Acquisitions
Business Acquisitions | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Business Acquisition | Business Acquisitions 2017 Acquisitions March 2017 Drop Down Assets — On March 27, 2017, the Company acquired the following 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 NRG 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 $1 million of working capital. The acquisition of the March 2017 Drop Down Assets was funded with cash on hand and is referred to as March 2017 Drop Down Assets. The Company recorded the acquired interests as equity method investments. The Company also assumed debt of $41 million and $287 million on Agua Caliente Borrower 2 LLC and the Utah Solar Portfolio, respectively, as further described in Note 10, Long-term Debt . 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 the Company's contributed capital. 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). 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, CVSR Drop Down, for total cash consideration of $78.5 million , plus an immaterial working capital adjustment. The acquisition was funded with cash on hand. 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 further described in Note 10 , Long-term Debt . I n 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. 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 with the offset to contributed capital. 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 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. As of June 30, 2016, the Company's recast consolidated balance sheet included a net receivable of $ 67 million related to current litigation with SunPower pursuant to indemnities in the project. The agreement between NRG and the Company for the CVSR Drop Down acquisition specified that all amounts related to the litigation with SunPower were excluded from the acquisition. Accordingly, prior to close of the transaction, the net receivable was transferred to NRG as a net reduction to its ownership interest in CVSR. The following is the summary of historical net liabilities assumed in connection with the CVSR Drop Down as of September 1, 2016: CVSR (In millions) Current assets $ 95 Property, plant and equipment 826 Non-current assets 13 Total assets 934 Debt (a) 966 Other current and non-current liabilities 12 Total liabilities 978 Net liabilities assumed (44 ) Accumulated other comprehensive loss (25 ) Historical net liabilities assumed $ (19 ) (a) Net of deferred financing costs of $5 million . The Company incurred and expensed acquisition-related transaction costs related to the acquisition of CVSR of $1 million for the year ended December 31, 2016. Since the acquisition date, CVSR has contributed $22 million in operating revenues and a $2 million in net loss to the Company. The following tables present the Company's historical information summary combining the financial information for the CVSR Drop Down and March 2017 Drop Down Assets transferred in connection with the acquisitions As of December 31, 2016 As Previously Reported March 2017 Drop Down Assets As Currently Reported (In millions) Current assets $ 645 $ 11 $ 656 Property, plant and equipment 5,460 — 5,460 Non-current assets 2,062 442 2,504 Total assets 8,167 453 8,620 Debt 5,728 279 6,007 Other current and non-current liabilities 304 5 309 Total liabilities 6,032 284 6,316 Net assets $ 2,135 $ 169 $ 2,304 As of December 31, 2015 As Previously Reported CVSR March 2017 Drop Down Assets As Currently Reported (a) (In millions) Current assets $ 321 $ 98 $ — $ 419 Property, plant and equipment 5,056 822 — 5,878 Non-current assets 2,231 (6 ) 100 2,325 Total assets 7,608 914 100 8,622 Debt 4,835 843 — 5,678 Other current and non-current liabilities 339 (35 ) — 304 Total liabilities 5,174 808 — 5,982 Net assets $ 2,434 $ 106 $ 100 $ 2,640 Year ended December 31, 2016 As Previously Reported March 2017 Drop Down Assets As Currently Reported (In millions) Total operating revenues $ 1,021 $ — $ 1,021 Operating income 220 — 220 Net (loss) income (2 ) 17 15 Year ended December 31, 2015 As Previously Reported CVSR March 2017 Drop Down Assets As Currently Reported (In millions) Total operating revenues $ 869 $ 84 $ — $ 953 Operating income 279 43 — 322 Net income 78 10 5 93 Year ended December 31, 2014 As Previously Reported (a) CVSR March 2017 Drop Down Assets As Currently Reported (In millions) Total operating revenues $ 746 $ 82 $ — $ 828 Operating income 266 40 — 306 Net income 108 9 5 122 2015 Acquisitions November 2015 Drop Down Assets from NRG — On November 3, 2015, the Company acquired the November 2015 Drop Down Assets, a portfolio of 12 wind facilities totaling 814 net MW, from NRG for cash consideration of $209 million , subject to working capital adjustments. In February 2016, NRG made a final working capital payment of $2 million , reducing total cash consideration to $207 million . The Company is responsible for its pro-rata share of non-recourse project debt of $193 million and noncontrolling interest associated with a tax equity structure of $159 million (as of the acquisition date). The Company funded the acquisition with borrowings from its revolving credit facility. The assets and liabilities transferred to the Company relate to interests under common control by NRG and were recorded at historical cost. The difference between the cash paid and historical value of the entities' equity was recorded as a distribution from NRG with the offset to contributed capital. The Class A interests of NRG Wind TE Holdco 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 8.53% . The Company generally receives 75% of CAFD until the flip point, at which time the allocations to the Company of CAFD change to 68.60% . If the flip point has not occurred by a specified date, 100% of CAFD is allocated to the TE Investor until the flip point occurs. NRG Wind TE Holdco is a VIE and the Company is the primary beneficiary, through its position as managing member, and consolidates NRG Wind TE Holdco. The following is a summary of assets and liabilities transferred in connection with the acquisition as of November 3, 2015: NRG Wind TE Holdco (In millions) Current assets $ 30 Property, plant and equipment 669 Non-current assets 177 Total assets 876 Debt 193 Other current and non-current liabilities 32 Total liabilities 225 Less: noncontrolling interest 282 Net assets acquired $ 369 Desert Sunlight — On June 29, 2015, the Company acquired 25% of the membership interest in Desert Sunlight Investment Holdings, LLC, which owns two solar photovoltaic facilities that total 550 MW, located in Desert Center, California from EFS Desert Sun, LLC, an affiliate of GE Energy Financial Services for a purchase price of $285 million . Power generated by the facilities is sold to Southern California Edison and Pacific Gas and Electric under long-term PPAs with approximately 20 years and 25 years of remaining contract life, respectively. The Company accounts for its 25% investment as an equity method investment. Spring Canyon — On May 7, 2015, the Company acquired a 90.1% interest in Spring Canyon II, a 32 MW wind facility, and Spring Canyon III, a 28 MW wind facility, each located in Logan County, Colorado, from Invenergy Wind Global LLC. The purchase price was funded with cash on hand. Power generated by Spring Canyon II and Spring Canyon III is sold to Platte River Power Authority under long-term PPAs, each with approximately 24 years of remaining contract life. University of Bridgeport Fuel Cell — On April 30, 2015, the Company completed the acquisition of the University of Bridgeport Fuel Cell project in Bridgeport, Connecticut from FuelCell Energy, Inc. The project added an additional 1.4 MW of thermal capacity to the Company's portfolio, with a 12 -year contract, with the option for a 7 -year extension. The acquisition is reflected in the Company's Thermal segment. January 2015 Drop Down Assets from NRG — On January 2, 2015, the Company acquired the following projects from NRG: (i) Laredo Ridge, an 80 MW wind facility located in Petersburg, Nebraska, (ii) Tapestry, which includes Buffalo Bear, a 19 MW wind facility in Buffalo, Oklahoma; Taloga, a 130 MW wind facility in Putnam, Oklahoma; and Pinnacle, a 55 MW wind facility in Keyser, West Virginia, and (iii) Walnut Creek, a 485 MW natural gas facility located in City of Industry, California, for total cash consideration of $489 million , including $9 million for working capital, plus assumed project-level debt of $737 million . The Company funded the acquisition with cash on hand and drawings under its revolving credit facility. The assets and liabilities transferred to the Company relate to interests under common control by NRG and were recorded at historical cost. The difference between the cash paid and the historical value of the entities' equity of $61 million was recorded as a distribution to NRG and reduced the balance of its contributed capital. 2014 Acquisitions Alta Wind Portfolio Acquisition — On August 12, 2014, the Company acquired 100% of the membership interests of Alta Wind Asset Management Holdings, LLC, Alta Wind Company, LLC, Alta Wind X Holding Company, LLC and Alta Wind XI Holding Company, LLC, which collectively own seven wind facilities that total 947 MW located in Tehachapi, California and a portfolio of associated land leases, or the Alta Wind Portfolio. Power generated by the Alta Wind Portfolio is sold to Southern California Edison under long-term PPAs with 21 years of remaining contract life for Alta I-V. The Alta Wind X and XI PPAs began in 2016 with a term of 22 years and sold energy and renewable energy credits on a merchant basis during the years ending December 31, 2015 and 2014. The purchase price for the Alta Wind Portfolio was $923 million , which consisted of a base purchase price of $870 million , as well as a payment for working capital of $53 million , plus the assumption of $1.6 billion of non-recourse project-level debt. In order to fund the purchase price, the Company completed an equity offering of 12,075,000 shares of its Class A common stock at an offering price of $54.00 per share on July 29, 2014, which resulted in net proceeds of $630 million , after underwriting discounts and expenses. In addition, on August 5, 2014, NRG Yield Operating LLC issued $500 million of Senior Notes, which bear interest at a rate of 5.375% and mature in August 2024. The acquisition was recorded as a business combination under ASC 805-50, with identifiable assets acquired and liabilities assumed provisionally recorded at their estimated fair values on the acquisition date. The accounting for the business combination was completed as of August 11, 2015, at which point the fair values became final. The following table summarizes the provisional amounts recognized for assets acquired and liabilities assumed as of December 31, 2014, as well as adjustments made through August 11, 2015, when the allocation became final. The purchase price of $923 million was allocated as follows: Acquisition Date Fair Value at December 31, 2014 Measurement period adjustments Revised Acquisition Date Assets (In millions) Cash $ 22 $ — $ 22 Current and non-current assets 49 (2 ) 47 Property, plant and equipment 1,304 6 1,310 Intangible assets 1,177 (6 ) 1,171 Total assets acquired 2,552 (2 ) 2,550 Liabilities Debt 1,591 — 1,591 Current and non-current liabilities 38 (2 ) 36 Total liabilities assumed 1,629 (2 ) 1,627 Net assets acquired $ 923 $ — $ 923 The Company incurred and expensed acquisition-related transaction costs related to the acquisition of the Alta Wind Portfolio of $2 million for the year ended December 31, 2014. June 2014 Drop Down Assets — On June 30, 2014, the Company acquired from NRG: (i) El Segundo, a 550 MW fast-start, gas-fired facility located in Los Angeles County, California; (ii) TA High Desert, a 20 MW solar facility located in Los Angeles County, California; and (iii) Kansas South, a 20 MW solar facility located in Kings County, California. The Company paid total cash consideration of $357 million , which represents a base purchase price of $349 million and $8 million of working capital adjustments. In addition, the acquisition included the assumption of $612 million of project- level debt. 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 . The difference between the cash proceeds and the historical value of the net assets was recorded as a distribution to NRG and reduced the balance of its contributed capital. Since the transaction constituted a transfer of entities 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 beginning of the financial statements period or the inception of common control (if later than the beginning of the financial statements period). Accordingly, the Company prepared its consolidated financial statements to reflect the transfer as if it had taken place from the beginning of the financial statements period. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment The Company’s major classes of property, plant, and equipment were as follows: December 31, 2016 December 31, 2015 Depreciable Lives (In millions) Facilities and equipment $ 6,215 $ 6,480 2 - 40 Years Land and improvements 171 171 Construction in progress (a) 25 9 Total property, plant and equipment 6,411 6,660 Accumulated depreciation (951 ) (782 ) Net property, plant and equipment $ 5,460 $ 5,878 (a) As of December 31, 2016, construction in progress includes $20 million of capital expenditures that relate to prepaid long-term service agreements primarily in the Conventional segment. |
Equity Method Investments and V
Equity Method Investments and VIEs | 12 Months Ended |
Dec. 31, 2016 | |
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 Equity Method Investments The following table summarizes the Company's equity method investments as of December 31, 2016 : Name Economic Interest Investment Balance (In millions) Utah Solar Portfolio (a) 50% $346 Desert Sunlight 25% 282 GenConn (b) 50% 106 Agua Caliente Borrower 2 16% 96 Elkhorn Ridge (c) 50.3% 85 San Juan Mesa (c) 56.3% 74 NRG DGPV Holdco 1 LLC (d) 95% 75 NRG DGPV Holdco 2 LLC (d) 95% 24 NRG RPV Holdco 1 LLC (d) 95% 71 Avenal 50% (7) Total equity investments in affiliates $1,152 (a) Economic interest based on cash to be distributed. Four Brothers Solar, LLC, Granite Mount Holdings, LLC and Iron Spring Holdings, LLC are tax equity structures and VIEs. The related allocations are described below. (b) GenConn is a variable interest entity. (c) San Juan Mesa and Elkhorn Ridge are part of the Wind TE Holdco tax equity structure, as described below. San Juan Mesa and Elkhorn Ridge are owned 75% and 66.7% , respectively, by Wind TE Holdco. The Company owns 75% of the Class B interests in Wind TE Holdco. (d) Economic interest based on cash to be distributed. NRG DGPV Holdco 1 LLC, NRG DGPV Holdco 2 LLC, and NRG RPV Holdco 1 LLC are tax equity structures and VIEs. The related allocations are described below. As of December 31, 2016 and 2015 , the Company had $ 51 million and $ 45 million , respectively, of undistributed earnings from its equity method investments. The Company acquired its interest in Desert Sunlight on June 30, 2015, for $285 million , which resulted in a difference between the purchase price and the basis of the acquired assets and liabilities of $171 million . The difference is attributable to the fair value of the property, plant and equipment and power purchase agreements. In addition, the difference between the basis of the acquired assets and liabilities and the purchase price for the Utah Solar Portfolio (Four Brothers Solar, LLC, Granite Mountain Holdings, LLC and Iron Springs Holdings, LLC) of $106 million is attributable to the fair value of the property, plant and equipment. The Company is amortizing the related basis differences to equity in earnings (losses) over the related useful life of the underlying assets acquired. Non-recourse project-level debt of unconsolidated affiliates The Company's pro-rata share of non-recourse debt held by unconsolidated affiliates was approximately $589 million as of December 31, 2016 . 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 December 31, 2016 , Agua Caliente Solar LLC, the direct owner of the Agua Caliente solar facility, had $849 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 Agua Caliente Financing was approximately $136 million as of December 31, 2016 . 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. Avenal — The Company owns a 50% equity interest in Avenal, which consists of three solar PV projects in Kings County, California totaling approximately 45 MWs. Eurus Energy owns the remaining 50% of Avenal. Power generated by the projects is sold under a 20 -year PPA. On September 22, 2010, Avenal entered into a $35 million promissory note facility with the Company. Amounts drawn under the promissory note facility accrue interest at 4.5% per annum. Also, on September 22, 2010, Avenal entered into a $209 million financing arrangement with a syndicate of banks, or the Avenal Facility. As of December 31, 2016 and 2015 , Avenal had outstanding $134 million and $143 million , respectively, under the Avenal Facility. Desert Sunlight — Desert Sunlight 250 and Desert Sunlight 300 each entered into three distinct tranches of debt. As of December 31, 2016 and 2015 , Desert Sunlight had total debt outstanding of $1.1 billion under the three tranches. GenConn — GenConn has a $237 million project note with an interest rate of 4.73% and a maturity date of July 2041 and a 5-year, $35 million working capital facility that matures in 2018 which can be used to issue letters of credit at an interest rate of 1.875% per annum. As of December 31, 2016 and 2015 , $212 million and $220 million , respectively, were outstanding under the note. As of December 31, 2016 , $14 million was drawn on the working capital facility. The note is secured by all of the GenConn assets. The Company's maximum exposure to loss is limited to its equity investment in GenConn, which was $106 million as of December 31, 2016. NRG DGPV Holdco 2 LLC — On June 30, 2016, NRG DGPV4 Borrower LLC, a direct subsidiary of NRG DGPV Holdco 2 LLC entered into a financing agreement to fund the acquisition of projects by the tax equity fund. As of December 31, 2016, there was $21 million outstanding under the facility. Summarized Financial Information The following tables present summarized financial information for the Company's significant equity method investments: Year Ended December 31, 2016 2015 2014 Income Statement Data: (In millions) GenConn Operating revenues $ 72 $ 78 $ 82 Operating income 38 40 40 Net income 26 28 28 Desert Sunlight Operating revenues $ 211 $ 206 134 Operating income 129 124 74 Net income 80 73 37 Utah Solar Portfolio (a) Operating revenues $ 13 $ — $ — Operating loss (6 ) (1 ) — Net loss (6 ) (1 ) — As of December 31, 2016 2015 Balance Sheet Data: (In millions) GenConn Current assets $ 36 $ 36 Non-current assets 389 416 Current liabilities 16 16 Non-current liabilities 196 215 Desert Sunlight Current assets $ 281 $ 310 Non-current assets 1,401 1,435 Current liabilities 64 82 Non-current liabilities 1,043 1,086 Utah Solar Portfolio (a) Current assets $ 20 $ 11 Non-current assets 1,105 705 Current liabilities 14 229 Non-current liabilities 38 — (a) Utah Solar Portfolio was acquired by NRG on November 2, 2016. Variable Interest Entities, or VIEs Entities that are Consolidated NRG Wind TE Holdco — On November 3, 2015, the Company acquired 75% of the Class B interests of NRG Wind TE Holdco, or the November 2015 Drop Down Assets, which owns a portfolio of 12 wind facilities totaling 814 net MW, from NRG for total cash consideration of $209 million , as described in Note 3 , Business Acquisitions . In February 2016, NRG made a final working capital payment of $2 million , reducing total cash consideration to $207 million . NRG retained a 25% ownership of the Class B interest. The Class A interests of NRG Wind TE Holdco 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 8.53% . The Company generally receives 75% of CAFD until the flip point, at which time the allocations to the Company of CAFD change to 68.60% . If the flip point has not occurred by a specified date, 100% of CAFD is allocated to the TE Investor until the flip point occurs. NRG Wind TE Holdco is a VIE and the Company is the primary beneficiary, through its position as managing member, and consolidates NRG Wind TE Holdco. The Company utilizes the HLBV method to determine the net income or loss allocated to the TE Investor noncontrolling interest. Net income or loss attributable to the Class B interests is allocated to NRG's noncontrolling interest based on its 25% ownership interest. Alta TE Holdco — On June 30, 2015, the Company sold an economic interest in Alta TE Holdco to a financial institution in order to monetize certain cash and tax attributes, primarily PTCs. The financial institution, or Alta Investor, receives 99% of allocations of taxable income and other items until the flip point, which occurs when the Alta Investor obtains a specified return on its initial investment, at which time the allocations to the Alta Investor change to 5% . The Company received 100% of CAFD through December 31, 2015, and subsequently will receive 94.34% until the flip point, at which time the allocations to the Company of CAFD will change to 97.12% , unless the flip point will not have occurred by a specified date, which would result in 100% of CAFD allocated to the Alta Investor until the flip point occurs. Alta TE Holdco is a VIE and the Company is the primary beneficiary through its position as managing member, and therefore consolidates Alta TE Holdco, with the Alta Investor's interest shown as noncontrolling interest. The Company utilizes the HLBV method to determine the net income or loss allocated to the noncontrolling interest. The net proceeds of $119 million were reflected as noncontrolling interest in the Company's balance sheet. Spring Canyon — On May 7, 2015, the Company acquired a 90.1% of the Class B interests in Spring Canyon II, a 32 MW wind facility, and Spring Canyon III, a 28 MW wind facility, each located in Logan County, Colorado, from Invenergy Wind Global LLC. Invenergy owns 9.9% of the Class B interests. Prior to the acquisition date, the projects were financed with a partnership flip tax-equity structure with a financial institution, who owns the Class A interests, to monetize certain cash and tax attributes, primarily PTCs. Until the flip point, the Class A member will receive 34.81% of the cash distributions based on the projects’ production level and the Company and Invenergy will receive 65.19% . After the flip point, cash distributions are allocated 5% to the Class A member and 95% to the Company and Invenergy. Spring Canyon is a VIE and the Company is the primary beneficiary through its position as managing member, and therefore consolidates Spring Canyon. The Class A member and Invenergy's interests are shown as noncontrolling interest. The Company utilizes the HLBV method to determine the net income or loss allocated to the Class A member. Net income or loss attributable to the Class B interests is allocated to Invenergy's noncontrolling interest based on its 9.9% ownership interest. Summarized financial information for the Company's consolidated VIEs consisted of the following as of December 31, 2016 : (In millions) NRG Wind TE Holdco Alta TE Holdco Spring Canyon Other current and non-current assets $ 193 $ 17 $ 4 Property, plant and equipment 441 461 100 Intangible assets 2 274 — Total assets 636 752 104 Current and non-current liabilities 209 9 6 Total liabilities 209 9 6 Noncontrolling interest 139 107 67 Net assets less noncontrolling interests $ 288 $ 636 $ 31 Entities that are not Consolidated The Company has interests in entities that are considered VIEs under ASC 810, Consolidation , 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. 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 Company’s maximum exposure to loss is limited to its equity method investments in the Utah Solar Portfolio, which was $346 million on a combined basis as of December 31, 2016. NRG DGPV Holdco 1 LLC — On May 8, 2015, the Company and NRG entered into a partnership by forming NRG DGPV Holdco 1 LLC, or DGPV Holdco 1, the purpose of which is to own or purchase solar power generation projects and other ancillary related assets from NRG Renew LLC or its subsidiaries via intermediate funds, including: (i) a tax equity-financed portfolio of 10 recently completed community solar projects representing approximately 8 MW with a weighted average remaining PPA term of 19 years ; (ii) a tax equity-financed portfolio of approximately 12 commercial photovoltaic systems representing approximately 37 MW with a weighted average remaining PPA term of 18 years ; and (iii) a tax equity-financed portfolio of approximately 3 commercial photovoltaic systems representing approximately 1 MW with a weighted average remaining PPA term of 20 years . All of these investments relate to the Company's $100 million commitment to distributed solar projects in partnership with NRG. NRG DGPV Holdco 2 LLC — On February 29, 2016, the Company and NRG entered into an additional partnership by forming NRG DGPV Holdco 2 LLC, or DGPV Holdco 2, to own or purchase solar power generation projects as well as other ancillary related assets from NRG Renew LLC or its subsidiaries, via intermediate funds including: (i) a tax equity-financed portfolio of 18 projects representing approximately 28 MW with a weighted average remaining PPA term of 21 years ; and (ii) a tax equity-financed portfolio of 21 projects representing approximately 18 MW with a weighted average remaining PPA term of 20 years . Under this partnership, the Company committed to fund up to $50 million of capital. The Company's maximum exposure to loss is limited to its equity investment in DGPV Holdco 1 and DGPV Holdco 2, which was $ 99 million on a combined basis, of which $14 million was payable to NRG, as of December 31, 2016 . NRG RPV Holdco 1 LLC — On April 9, 2015, the Company and NRG entered into a partnership by forming NRG RPV Holdco 1 LLC, or RPV Holdco, that holds operating portfolios of residential solar assets developed by NRG's residential solar business, including: (i) an existing, unlevered portfolio of over 2,200 leases across nine states representing approximately 15 MW with a weighted average remaining lease term of approximately 19 years that was acquired outside of the partnership; and (ii) a tax equity-financed portfolio of approximately 5,400 leases representing approximately 31 MW, with a weighted average remaining lease term for the existing and new leases of approximately 19 years . In addition to the acquisition of the unlevered portfolio of leases, the Company had previously committed to fund up to $150 million of capital to invest in the tax equity financed portfolio. On February 29, 2016, the Company and NRG amended the RPV Holdco partnership agreement to reduce the aggregate commitment of $150 million to $100 million in connection with the formation of DGPV Holdco 2. On August 5, 2016, the Company and NRG amended the RPV Holdco partnership agreement to further reduce that capital commitment of $100 million to $60 million in connection with NRG’s change in business model approach in the residential solar business. As of December 31, 2016 , the Company had contributed $59 million of this amount. The Company's maximum exposure to loss is limited to its equity investment, which was $71 million as of December 31, 2016 . |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments For cash and cash equivalents, restricted cash, accounts receivable — affiliate, accounts receivable, accounts payable, current portion of accounts payable — affiliate, accrued expenses and other liabilities, the carrying amount approximates fair value because of the short-term maturity of those instruments and are classified as Level 1 within the fair value hierarchy. The estimated carrying amounts and fair values of the Company’s recorded financial instruments not carried at fair market value are as follows: As of December 31, 2016 As of December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Assets: Notes receivable, including current portion $ 30 $ 30 $ 47 $ 47 Liabilities: Long-term debt, including current portion — affiliate 618 608 618 553 Long-term debt, including current portion — external $ 5,451 $ 5,435 $ 5,060 $ 4,974 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. 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 non-publicly traded long-term debt, affiliate 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 December 31, 2016 and 2015 : As of December 31, 2016 As of December 31, 2015 Level 2 Level 3 Level 2 Level 3 (In millions) Long-term debt, including current portion $ 833 $ 5,210 $ 413 $ 5,114 Recurring Fair Value Measurements The Company records its derivative assets and liabilities at fair market value on its consolidated balance sheet. There were no asset positions as of December 31, 2015. 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 December 31, 2016 As of December 31, 2016 As of December 31, 2015 Fair Value (a) Fair Value (a) Fair Value (a) (In millions) Level 1 Level 2 Level 2 Derivative assets: Commodity contracts $ 1 $ 1 $ — Interest rate contracts — 1 — Total assets $ 1 $ 2 $ — Derivative liabilities: Commodity contracts $ — $ 1 $ 2 Interest rate contracts — 75 98 Total liabilities $ — $ 76 $ 100 (a) There were no assets or liabilities classified as Level 1 as of December 31, 2015 . There were no assets or liabilities classified Level 3 as of December 31, 2016 and 2015 . 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 for interest rate swaps, is calculated based on credit default swaps utilizing the bilateral method. For commodities, to the extent that NRG's net exposure under a specific master agreement is an asset, the Company uses the counterparty's default swap rate. If the 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 December 31, 2016 , the credit reserve resulted in a $1 million increase in fair value in OCI. 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 as disclosed in Note 2 , Summary of Significant Accounting Policies , the following item 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 December 31, 2016 , credit risk exposure to these counterparties attributable to the Company's ownership interests was approximately $2.8 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 (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Accounting for Derivative Instruments and Hedging Activities | Accounting for Derivative Instruments and Hedging Activities ASC 815 requires the Company to recognize all derivative instruments on the balance sheet as either assets or liabilities and to measure them at fair value each reporting period unless they qualify for a NPNS exception. The Company may elect to designate certain derivatives as cash flow hedges, if certain conditions are met, and defer the effective portion of the change in fair value of the derivatives to accumulated OCI/OCL, until the hedged transactions occur and are recognized in earnings. The ineffective portion of a cash flow hedge is immediately recognized in earnings. For derivatives that are not designated as cash flow hedges or do not qualify for hedge accounting treatment, the changes in the fair value will be immediately recognized in earnings. Certain derivative instruments may qualify for the NPNS exception and are therefore exempt from fair value accounting treatment. ASC 815 applies to the Company's energy related commodity contracts and interest rate swaps. Energy-Related Commodities To manage the commodity price risk associated with its competitive supply activities and the price risk associated with wholesale power sales, the Company may enter into derivative hedging instruments, namely, forward contracts that commit the Company to sell energy commodities or purchase fuels/electricity in the future. The objectives for entering into derivatives contracts designated as hedges include fixing the price for a portion of anticipated future electricity sales and fixing the price of a portion of anticipated fuel/electricity purchases for the operation of its subsidiaries. As of December 31, 2016 , the Company had forward contracts for the purchase of fuel commodities relating to the forecasted usage of the Company’s district energy centers extending through 2018 and electricity contracts to supply retail power to the Company's district energy centers extending through 2020. At December 31, 2016 , these contracts were not designated as cash flow or fair value hedges. Also, as of December 31, 2016 , the Company had other energy-related contracts that did not meet the definition of a derivative instrument or qualified for the NPNS exception and were therefore exempt from fair value accounting treatment as follows: • Power tolling contracts through 2039, and • Natural gas transportation contracts through 2028. Interest Rate Swaps The Company is exposed to changes in interest rates through the issuance of variable rate debt. In order to manage interest rate risk, it enters into interest rate swap agreements. As of December 31, 2016 , the Company had interest rate derivative instruments on non-recourse debt extending through 2036, most of which are designated as cash flow hedges. Volumetric Underlying Derivative Transactions The following table summarizes the net notional volume buy/(sell) of the Company's open derivative transactions broken out by commodity as of December 31, 2016 and 2015 : Total Volume December 31, 2016 December 31, 2015 Commodity Units (In millions) Natural Gas MMBtu 3 4 Interest Dollars $ 2,070 $ 1,991 Fair Value of Derivative Instruments There were no derivative asset positions on the balance sheet as of December 31, 2015 . 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 December 31, 2016 December 31, 2015 (In millions) Derivatives Designated as Cash Flow Hedges: Interest rate contracts current $ — $ 26 $ 34 Interest rate contracts long-term 1 39 56 Total Derivatives Designated as Cash Flow Hedges 1 65 90 Derivatives Not Designated as Cash Flow Hedges : Interest rate contracts current — 5 3 Interest rate contracts long-term — 5 5 Commodity contracts current 2 1 2 Total Derivatives Not Designated as Cash Flow Hedges 2 11 10 Total Derivatives $ 3 $ 76 $ 100 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 December 31, 2016 , there was no outstanding collateral paid or received. As of December 31, 2015 , there were no offsetting amounts at the counterparty master agreement level or outstanding collateral paid or received. The following table summarizes the offsetting of derivatives by counterparty master agreement level as of December 31, 2016 : Gross Amounts Not Offset in the Statement of Financial Position 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: Year ended December 31, 2016 2015 2014 (In millions) Accumulated OCL beginning balance $ (99 ) $ (82 ) $ (17 ) Reclassified from accumulated OCL to income due to realization of previously deferred amounts 17 17 15 Mark-to-market of cash flow hedge accounting contracts (4 ) (34 ) (80 ) Accumulated OCL ending balance (86 ) (99 ) (82 ) Accumulated OCL attributable to noncontrolling interests (3 ) (3 ) (2 ) Accumulated OCL attributable to NRG Yield LLC $ (83 ) $ (96 ) $ (80 ) Losses expected to be realized from OCL during the next 12 months $ 19 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 years ended December 31, 2016 , 2015 and 2014 . 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. 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 years ended December 31, 2016 , 2015 and 2014 the impact to the consolidated statements of income was a loss of $2 million , a gain of $16 million , and a loss of $22 million , respectively. A portion of the Company’s derivative commodity contracts relates to its Thermal Business for the purchase of fuel/electricity commodities based on the forecasted usage of the thermal district energy centers. Realized gains and losses on these contracts are reflected in the 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. In 2015 and 2014, commodity contracts also hedged the forecasted sale of power for the Elbow Creek until the start of the PPA with NRG Power Marketing LLC, or Power Marketing, with effective date of November 1, 2015. The effect of these commodity hedges was recorded to operating revenues. For the years ended December 31, 2015 and 2014 , the impact to the consolidated statements of income was an unrealized loss of $2 million and a gain of $2 million , respectively. See Note 6 , Fair Value of Financial Instruments , for a discussion regarding concentration of credit risk. |
Intangible Assets Intangible As
Intangible Assets Intangible Assets - (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Intangible Assets Intangible Assets — The Company's intangible assets as of December 31, 2016 and 2015 primarily reflect intangible assets established from its business acquisitions and are comprised of the following: • PPAs — Established predominantly with the acquisitions of the Alta Wind Portfolio, Walnut Creek, Tapestry and Laredo Ridge, these represent the fair value of the PPAs acquired. These will be amortized, generally on a straight-line basis, over the term of the PPA. • Leasehold Rights — Established with the acquisition of the Alta Wind Portfolio, this represents the fair value of contractual rights to receive royalty payments equal to a percentage of PPA revenue from certain projects. These will be amortized on a straight-line basis. • Customer relationships — Established with the acquisition of NRG Energy Center Phoenix and NRG Energy Center Omaha, these intangibles represent the fair value at the acquisition date of the businesses' customer base. The customer relationships are amortized to depreciation and amortization expense based on the expected discounted future net cash flows by year. • Customer contracts — Established with the acquisition of NRG Energy Center Phoenix, these intangibles represent the fair value at the acquisition date of contracts that primarily provide chilled water, steam and electricity to its customers. These contracts are amortized to revenues based on expected volumes. • Emission Allowances — These intangibles primarily consist of SO 2 and NO x emission allowances established with the El Segundo and Walnut Creek acquisitions. These emission allowances are held-for-use and are amortized to cost of operations, with NO x allowances amortized on a straight-line basis and SO 2 allowances amortized based on units of production. • Development rights — Arising primarily from the acquisition of solar businesses in 2010 and 2011, these intangibles are amortized to depreciation and amortization expense on a straight-line basis over the estimated life of the related project portfolio. • Other — Consists of the acquisition date fair value of the contractual rights to a ground lease for South Trent and to utilize certain interconnection facilities for Blythe, as well as land rights acquired in connection with the acquisition of Elbow Creek. The following tables summarize the components of intangible assets subject to amortization: Year ended December 31, 2016 PPAs Leasehold Rights Customer Customer Contracts Emission Allowances Development Other Total (In millions) January 1, 2016 $ 1,264 $ 86 $ 66 $ 15 $ 15 $ 3 $ 6 $ 1,455 Other — — — — (6 ) — — (6 ) December 31, 2016 1,264 86 66 15 9 3 6 1,449 Less accumulated amortization (138 ) (9 ) (4 ) (7 ) (2 ) (1 ) (2 ) (163 ) Net carrying amount $ 1,126 $ 77 $ 62 $ 8 $ 7 $ 2 $ 4 $ 1,286 Year ended December 31, 2015 PPAs Leasehold Rights Customer Customer Contracts Emission Allowances Development Other Total (In millions) January 1, 2015 $ 1,270 $ 86 $ 66 $ 15 $ 16 $ 3 $ 6 $ 1,462 Other (6 ) — — — (1 ) — — (7 ) December 31, 2015 1,264 86 66 15 15 3 6 1,455 Less accumulated amortization (75 ) (5 ) (3 ) (6 ) (1 ) (1 ) (2 ) (93 ) Net carrying amount $ 1,189 $ 81 $ 63 $ 9 $ 14 $ 2 $ 4 $ 1,362 The Company recorded amortization expense of $70 million , $55 million and $30 million during the years ended December 31, 2016 , 2015 and 2014 . Of these amounts, $69 million , $54 million and $29 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, were recorded to contract amortization expense and reduced operating revenues in the consolidated statements of income. The Company estimates the future amortization expense for its intangibles to be $71 million for the next five years through 2021. Out-of-market contracts — The out-of-market contract liability represents the out-of-market value of the PPAs for the Blythe solar project and Spring Canyon wind projects and the out-of-market value of the land lease for Alta Wind XI Holding Company, LLC, as of their respective acquisition dates. The Blythe solar project's liability of $4 million is recorded to other non-current liabilities on the consolidated balance sheet and is amortized to revenue in the consolidated statements of income on a units-of-production basis over the twenty -year term of the agreement. Spring Canyon's liability of $3 million is recorded to other non-current liabilities and is amortized to revenue on a straight-line basis over the twenty-five year term of the agreement. The Alta Wind XI Holding Company, LLC's liability of $5 million is recorded to other non-current liabilities and is amortized to cost of operations on a straight-line basis over the term of the land lease. At December 31, 2016 , accumulated amortization of out-of-market contracts was $3 million and amortization expense was $1 million for the years ended December 31, 2016 and 2015 . |
Asset Impairments Asset Impairm
Asset Impairments Asset Impairments (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Asset Impairments [Abstract] | |
Asset Impairments | Asset Impairments During the fourth quarter of 2016, as the Company updated its estimated cash flows in connection with the preparation and review of the Company's annual budget, the Company determined that the cash flows for the Elbow Creek and Goat Wind projects located in Texas and the Forward project in Pennsylvania were below the carrying value of the related assets, primarily driven by declining merchant power prices in post-contract periods, and that the assets were considered impaired. These projects were acquired in connection with the acquisition of the November 2015 Drop Down Assets and were recorded in the Renewables segment of the Company. The projects were recorded at historical cost at acquisition date as they were related to interests under common control by NRG. The fair value of the facilities was determined using an income approach by applying a discounted cash flow methodology to the long-term budgets for each respective plant. The income approach utilized estimates of discounted future cash flows, which were Level 3 fair value measurement and include key inputs, such as forecasted power prices, operations and maintenance expense, and discount rates. The Company measured the impairment loss as the difference between the carrying amount and the fair value of the assets and recorded impairment losses of $117 million , $60 million and $6 million for Elbow Creek, Goat Wind, and Forward, respectively. |
Long-term Debt
Long-term Debt | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Long-term Debt | Long-term Debt The Company's borrowings, including short term and long term portions consisted of the following: December 31, 2016 December 31, 2015 Interest rate % (a) Letters of Credit Outstanding at December 31, 2016 (In millions, except rates) 2026 Senior Notes $ 350 $ — 5.000 2024 Senior Notes 500 500 5.375 Long-term debt - affiliate, due 2020 281 281 3.325 Long-term debt - affiliate, due 2019 337 337 3.580 NRG Yield LLC and NRG Yield Operating LLC Revolving Credit Facility, due 2019 (b) — 306 L+2.500 60 Project-level debt: Alpine, due 2022 145 154 L+1.750 37 Alta Wind I, lease financing arrangement, due 2034 242 252 7.015 16 Alta Wind II, lease financing arrangement, due 2034 191 198 5.696 27 Alta Wind III, lease financing arrangement, due 2034 198 206 6.067 27 Alta Wind IV, lease financing arrangement, due 2034 128 133 5.938 19 Alta Wind V, lease financing arrangement, due 2035 206 213 6.071 30 Alta Realty Investments, due 2031 31 33 7.000 — Alta Wind Asset Management, due 2031 18 19 L+2.375 — Avra Valley, due 2031 57 60 L+1.750 3 Blythe, due 2028 19 21 L+1.625 6 Borrego, due 2025 and 2038 69 72 L+ 2.500/5.650 5 CVSR, due 2037 771 793 2.339 - 3.775 — CVSR Holdco Notes, due 2037 199 — 4.680 13 El Segundo Energy Center, due 2023 443 485 L+1.625 - L+2.250 82 Energy Center Minneapolis, due 2017 and 2025 96 108 5.950 -7.250 — Energy Center Minneapolis Series D Notes, due 2031 125 — 3.550 — Kansas South, due 2031 30 33 L+2.000 4 Laredo Ridge, due 2028 100 104 L+1.875 10 Marsh Landing, due 2017 and 2023 370 418 L+1.750 - L+1.875 22 PFMG and related subsidiaries financing agreement, due 2030 27 29 6.000 — Roadrunner, due 2031 37 40 L+1.625 5 South Trent Wind, due 2020 57 62 L+1.625 10 TA High Desert, due 2020 and 2032 49 52 L+2.500/5.150 8 Tapestry, due 2021 172 181 L+1.625 20 Utah Solar Portfolio, due 2022 287 — L+2.625 13 Viento, due 2023 178 189 L+2.750 27 Walnut Creek, due 2023 310 351 L+1.625 41 WCEP Holdings, due 2023 46 46 L+3.000 — Other — 2 various — Subtotal project-level debt 4,601 4,254 Total debt 6,069 5,678 Less current maturities (291 ) (264 ) Less deferred financing costs (62 ) (53 ) Total long-term debt $ 5,716 $ 5,361 (a) As of December 31, 2016 , L+ equals 3 month LIBOR plus x%, except for the Alpine term loan, Marsh Landing term loan, Walnut Creek term loan, Utah Solar Portfolio debt, and NRG Yield LLC and NRG Yield Operating LLC Revolving Credit Facility, where L+ equals 1 month LIBOR plus x% and Kansas South and Viento, where L+ equals 6 month LIBOR plus x%. (b) Applicable rate is determined by the Borrower Leverage Ratio, as defined in the credit agreement. 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 arrangement. As of December 31, 2016 , the Company was in compliance with all of the required covenants. NRG Yield Operating LLC 2026 Senior Notes On August 18, 2016, Yield Operating LLC issued $350 million of senior unsecured notes, or the 2026 Senior Notes. The 2026 Senior Notes bear interest at 5.00% and mature on September 15, 2026. Interest on the notes is payable semi-annually on March 15 and September 15 of each year, and interest payments will commence on March 15, 2017. The 2026 Senior Notes are senior unsecured obligations of Yield Operating LLC and are guaranteed by the Company, and by certain of Yield Operating LLC's wholly owned current and future subsidiaries. A portion of the proceeds of the 2026 Senior Notes were used to repay the Company's revolving credit facility, as described below. NRG Yield Operating LLC 2024 Senior Notes On August 5, 2014, Yield Operating LLC issued $500 million of senior unsecured notes, or the 2024 Senior Notes. The 2024 Senior Notes bear interest at 5.375% and mature in August 2024. Interest on the notes is payable semi-annually on February 15 and August 15 of each year. The 2024 Senior Notes are senior unsecured obligations of Yield Operating LLC and are guaranteed by the Company, and by certain of Yield Operating LLC’s wholly owned current and future subsidiaries. Yield, Inc. 2020 Convertible Senior Notes and Related Intercompany Note On June 29, 2015, Yield, Inc. closed on its offering of $287.5 million aggregate principal amount of 3.25% Convertible Senior Notes due 2020, or the 2020 Convertible Notes. The 2020 Convertible Notes are convertible, under certain circumstances, into Yield, Inc.'s Class C common stock, cash or a combination thereof at an initial conversion price of $27.50 per Class C common share, which is equivalent to a conversion rate of approximately 36.3636 shares of Class C common stock per $1,000 principal amount of 2020 Convertible Notes. The Company and Yield Operating LLC provided a guarantee to Yield, Inc. with respect to the 2020 Convertible Notes. In addition, Yield Operating LLC and Yield, Inc. entered into an intercompany borrowing arrangement, under which Yield Operating LLC received $281 million of the proceeds of the 2020 Convertible Notes. The intercompany note bears interest at a rate of 3.325% and matures in 2020. Yield, Inc. 2019 Convertible Senior Notes and Related Intercompany Note During the first quarter of 2014, Yield, Inc. closed on its offering of $345 million aggregate principal amount of 3.50% Convertible Senior Notes due 2019, or the 2019 Convertible Notes. The 2019 Convertible Notes were convertible, under certain circumstances, into Yield, Inc.’s Class A common stock, cash or a combination thereof at an initial conversion price of $46.55 per Class A common share, which is equivalent to a conversion rate of approximately 42.9644 shares of Class A common stock per $1,000 principal amount of 2019 Convertible Notes in accordance with the terms of the related indenture. The Company and Yield Operating LLC provided a guarantee to Yield, Inc. with respect to the 2019 Convertible Notes. In addition, Yield Operating and Yield, Inc. entered into an intercompany borrowing arrangement, under which Yield Operating borrowed $337 million of the proceeds of the 2019 Convertible Notes. The intercompany note bears interest at a rate of 3.580% and matures in 2019. NRG Yield LLC and NRG Yield Operating LLC Revolving Credit Facility In connection with the Yield, Inc. initial public offering in July 2013, as further described in Note 1 , Nature of Business , the Company and Yield Operating LLC entered into a senior secured revolving credit facility, or the Yield Credit Facility, which was amended on June 26, 2015, to, among other things, increase the availability to $495 million . The Company's revolving credit facility can be used for cash or for the issuance of letters of credit. During 2015, the Company borrowed $254 million from the revolving credit facility to finance the acquisition of the November 2015 Drop Down Assets as discussed in Note 3 , Business Acquisitions , as well as fund dividend payments and tax equity contributions. The Company borrowed $60 million from the revolving credit facility and repaid $366 million during the year ended December 31, 2016 . The Company used its pro rata proceeds of $97.5 million from the CVSR Holdco Financing Arrangement in July 2016, a portion of its proceeds from the issuance of the 2026 Senior Notes in August 2015, as well as its cash on hand to repay the outstanding borrowings under the revolving credit facility. As of December 31, 2016 , there were no outstanding borrowings and the Company had $60 million of letters of credit outstanding under the revolving credit facility. Project - level Debt 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 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. Agua Caliente Borrower 2 LLC owns a 16% interest in the Agua Caliente solar farm and holds $41 million of the Agua Caliente Holdco debt. 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. Concurrent with the February 2017 borrowing, the Company entered into a letter of credit commitment of $17 million and issued same to support the Company's debt service requirement obligations. The Company pays semi-annual related fees of 2.25% on the outstanding balance. Utah Solar Portfolio, due 2022 As part of its March 2017 Drop Down Assets acquisition, the Company assumed non-recourse debt of $287 million relating to the Utah Solar Portfolio at 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 the NRG acquisition in November 2016, and additional borrowings of $65 million incurred during 2016. The Company also entered into letter agreements for a commitment of $13 million to support the Company's debt service requirement obligations. The Company pays an availability fee of 2.625% on the amount on a quarterly basis. On March 27, 2017, the letters of credit were amended, reducing the issued amount to $11 million . Energy Center Minneapolis LLC Series D Notes On October 31, 2016, NRG Energy Center Minneapolis LLC, a subsidiary of the Company, received proceeds of $125 million from the issuance of 3.55% Series D notes due October 31, 2031, or the Series D Notes, and entered into a shelf facility for the anticipated issuance of an additional $70 million of notes at a 4.80% fixed rate. The Series D 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. NRG Energy Center Minneapolis LLC distributed the proceeds of the Series D Notes to NRG Thermal LLC, which in turn distributed the proceeds to NRG Yield Operating LLC to be utilized for general corporate purposes, including potential acquisitions. CVSR Holdco Notes, due 2037 On July 15, 2016, CVSR Holdco, the indirect owner of the CVSR solar facility, issued $200 million of senior secured notes under the CVSR Holdco Financing Agreement, or 2037 CVSR Holdco Notes, that bear interest at 4.68% and mature on March 31, 2037. Net proceeds were distributed to the Company and NRG based on their respective ownership as of July 15, 2016, and, accordingly, the Company received net proceeds of $97.5 million . As described in Note 3 , Business Acquisitions , on September 1, 2016, the Company acquired the remaining 51.05% of CVSR, and assumed additional debt of $496 million , which represents 51.05% of the CVSR project level debt and 51.05% of the 2037 CVSR Holdco Notes. In connection with the retrospective adjustment of prior periods, as described in Note 1 , Nature of Business , the Company now consolidates CVSR and 100% of its debt, consisting of $771 million of project level debt and $200 million of 2037 CVSR Holdco Notes as of September 1, 2016. Avenal On March 18, 2015, Avenal, one of the Company's equity method investments, amended its credit agreement to increase its borrowings by $43 million and to reduce the related interest rate from 6 month LIBOR plus an applicable margin of 2.25% to 6 month LIBOR plus 1.75% from March 18, 2015, through March 17, 2022, 6 month LIBOR plus 2.00% from March 18, 2022, through March 17, 2027, and 6 month LIBOR plus 2.25% from March 18, 2027, through the maturity date. As a result of the credit agreement amendment, the Company received net proceeds of $20 million after fees from its 49.95% ownership in Avenal. Effective September 30, 2015, the Company increased its ownership to 50% by acquiring an additional 0.05% membership interest in Avenal. Lease financing arrangements Alta Wind Holdings (Alta Wind II - V) and Alta I (operating entities) have finance lease obligations issued under lease transactions whereby the respective operating entities sold and leased back undivided interests in specific assets of the project. The sale and related lease transactions are accounted for as financing arrangements as the operating entities have continued involvement with the property. The terms and conditions of each facility lease are substantially similar. Each operating entity makes rental payments as stipulated in the facility lease agreements on a semiannual basis every June 30 and December 30 through the final maturity dates. In addition, the operating entities have a credit agreement with a group of lenders that provides for the issuance of letters of credit to support certain operating and debt service obligations. Certain operations and maintenance, as well as rent reserve requirements are satisfied by letters of credit issued under the Yield Operating agreement. As of December 31, 2016 , $965 million was outstanding under the finance lease obligations, and $119 million of letters of credit were issued under the credit agreement and $23 million were issued under the Yield Credit Facility. Interest Rate Swaps — Project Financings Many of the Company's project subsidiaries entered into interest rate swaps, intended to hedge the risks associated with interest rates on non-recourse project level debt. These swaps amortize in proportion to their respective loans and are floating for fixed where the project subsidiary pays its counterparty the equivalent of a fixed interest payment on a predetermined notional value and will receive quarterly the equivalent of a floating interest payment based on the same notional value. All interest rate swap payments by the project subsidiary and its counterparty are made quarterly and the LIBOR is determined in advance of each interest period. In connection with the acquisition of the Alta Wind Portfolio in 2015, as described in Note 3 , Business Acquisitions , the Company acquired thirty-one additional interest rate swaps, thirty of which were settled during 2015. During 2015, the Company acquired thirty-two additional interest rate swaps in connection with the January 2015 and November 2015 Drop Downs, as described in Note 3 , Business Acquisitions . The following table summarizes the swaps, some of which are forward starting as indicated, related to the Company's project level debt as of December 31, 2016 : % of Principal Fixed Interest Rate Floating Interest Rate Notional Amount at December 31, 2016 (In millions) Effective Date Maturity Date Alpine 85 % 2.744 % 3-Month LIBOR $ 115 various December 31, 2029 Alpine 85 % 2.421 % 3-Month LIBOR 8 June 24, 2014 June 30, 2025 Avra Valley 85 % 2.333 % 3-Month LIBOR 49 November 30, 2012 November 30, 2030 AWAM 100 % 2.47 % 3-Month LIBOR 18 May 22, 2013 May 15, 2031 Blythe 75 % 3.563 % 3-Month LIBOR 14 June 25, 2010 June 25, 2028 Borrego 75 % 1.125 % 3-Month LIBOR 7 April 3, 2013 June 30, 2020 El Segundo 75 % 2.417 % 3-Month LIBOR 330 November 30, 2011 August 31, 2023 Kansas South 75 % 2.368 % 6-Month LIBOR 23 June 28, 2013 December 31, 2030 Laredo Ridge 75 % 2.31 % 3-Month LIBOR 79 March 31, 2011 March 31, 2026 Marsh Landing 75 % 3.244 % 3-Month LIBOR 342 June 28, 2013 June 30, 2023 Roadrunner 75 % 4.313 % 3-Month LIBOR 28 September 30, 2011 December 31, 2029 South Trent 75 % 3.265 % 3-Month LIBOR 43 June 15, 2010 June 14, 2020 South Trent 75 % 4.95 % 3-Month LIBOR 21 June 30, 2020 June 14, 2028 Tapestry 75 % 2.21 % 3-Month LIBOR 155 December 30, 2011 December 21, 2021 Tapestry 50 % 3.57 % 3-Month LIBOR 60 December 21, 2021 December 21, 2029 Utah Solar Portfolio 80 % various 1-Month LIBOR 230 December 15, 2016 September 30, 2036 Viento Funding II 90 % various 6-Month LIBOR 160 various various Viento Funding II 90 % 4.985 % 6-Month LIBOR 65 July 11, 2023 June 30, 2028 Walnut Creek Energy 75 % various 3-Month LIBOR 276 June 28, 2013 May 31, 2023 WCEP Holdings 90 % 4.003 % 3-Month LIBOR 46 June 28, 2013 May 31, 2023 Total $ 2,069 Annual Maturities Annual payments based on the maturities of the Company's debt, for the years ending after December 31, 2016 , are as follows: (In millions) 2017 $ 291 2018 304 2019 657 2020 647 2021 452 Thereafter 3,718 Total $ 6,069 |
Members' Equity (Notes)
Members' Equity (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Members' Equity [Abstract] | |
Members' Equity | Members' Equity The following table lists the distributions paid on the Company's Class A, Class B, Class C and Class D units during the year ended December 31, 2016 : Fourth Quarter 2016 Third Quarter 2016 Second Quarter 2016 First Quarter 2016 Distributions per Class A and Class B units $ 0.25 $ 0.24 $ 0.23 $ 0.225 Distributions per Class C and Class D units $ 0.25 $ 0.24 $ 0.23 $ 0.225 On February 15, 2017 , the Company declared a quarterly distribution on its Class A, Class B, Class C and Class D units of $0.26 per share, payable on March 15, 2017 . During the first quarter of 2017 and the years ended December 31, 2016, 2015 and 2014, the Company acquired the Drop Down Assets from NRG, as described in Note 3 , Business Acquisitions . The difference between the cash paid and historical value of the March 2017 Drop Down Assets of $8 million was recorded as a contribution from NRG and increased the balance of its contributed capital in 2017. The difference between the cash paid and historical value of the CVSR Drop Down of $112 million was recorded as a distribution to NRG and reduced the balance of its contributed capital in 2016. The difference between the cash paid and historical value of the January 2015 and November 2015 Drop Down Assets of $109 million was recorded as a contribution from NRG and increased the balance of its contributed capital in 2015. The difference between the cash paid and historical value of the June 2014 Drop Down Assets of $113 million was recorded as a distribution to NRG and reduced the balance of its contributed capital in 2014. Prior to the date of acquisition, certain of the projects made distributions to NRG and NRG made contributions into certain projects. These amounts are reflected within the Company’s statement of stockholders’ equity as changes in the contributed capital balance. In addition, NRG maintained a 25% ownership interest in the Class B interests of NRG Wind TE Holdco. This 25% interest is also reflected within the Company’s noncontrolling interest balance. |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2016 | |
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 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). The Company generated more than 10% of its revenues from the following customers for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Customer Conventional (%) Renewables (%) Conventional (%) Renewables (%) Conventional (%) Renewables (%) SCE 21% 21% 23% 17% 24% 7% PG&E 12% 11% 13% 12% 15% 13% Year ended December 31, 2016 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 333 $ 518 $ 170 $ — $ 1,021 Cost of operations 66 126 114 — 306 Depreciation and amortization 80 197 20 — 297 Impairment losses — 183 — — 183 General and administrative — — — 14 14 Acquisition-related transaction and integration costs — — — 1 1 Operating income (loss) 187 12 36 (15 ) 220 Equity in earnings of unconsolidated affiliates 13 47 — — 60 Other income, net 1 2 — — 3 Interest expense (48 ) (147 ) (7 ) (66 ) (268 ) Net Income (Loss) $ 153 $ (86 ) $ 29 $ (81 ) $ 15 Balance Sheet Equity investment in affiliates $ 106 $ 1,046 $ — $ — $ 1,152 Capital expenditures (a) 7 2 14 — 23 Total Assets $ 1,993 $ 5,988 $ 426 $ 213 $ 8,620 (a) Includes accruals. Year ended December 31, 2015 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 336 $ 443 $ 174 $ — $ 953 Cost of operations 59 136 126 — 321 Depreciation and amortization 81 197 19 — 297 General and administrative — — — 10 10 Acquisition-related transaction and integration costs — — — 3 3 Operating income (loss) 196 110 29 (13 ) 322 Equity in earnings of unconsolidated affiliates 14 17 — — 31 Other income, net 1 2 — — 3 Loss on debt extinguishment (7 ) (2 ) — — (9 ) Interest expense (48 ) (147 ) (7 ) (52 ) (254 ) Net Income (Loss) $ 156 $ (20 ) $ 22 $ (65 ) $ 93 Balance Sheet Equity investments in affiliates $ 110 $ 687 $ — $ — $ 797 Capital expenditures (a) 4 6 20 — 30 Total Assets $ 2,102 $ 6,070 $ 428 $ 22 $ 8,622 (a) Includes accruals. Year ended December 31, 2014 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 317 $ 316 $ 195 $ — $ 828 Cost of operations 55 83 139 — 277 Depreciation and amortization 82 133 18 — 233 General and administrative — — — 8 8 Acquisition-related transaction and integration costs — — — 4 4 Operating income (loss) 180 100 38 (12 ) 306 Equity in earnings of unconsolidated affiliates 14 8 — — 22 Other income, net — 5 — 1 6 Loss on debt extinguishment — (1 ) — — (1 ) Interest expense (53 ) (126 ) (7 ) (25 ) (211 ) Net Income (Loss) $ 141 $ (14 ) $ 31 $ (36 ) $ 122 |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Operating Lease Commitments The Company leases certain facilities and equipment under operating leases, some of which include escalation clauses, expiring on various dates through 2048. The effects of these scheduled rent increases, leasehold incentives, and rent concessions are recognized on a straight-line basis over the lease term unless another systematic and rational allocation basis is more representative of the time pattern in which the leased property is physically employed. Lease expense under operating leases was $15 million , $10 million and $9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Future minimum lease commitments under operating leases for the years ending after December 31, 2016 , are as follows: Period (In millions) 2017 $ 9 2018 9 2019 10 2020 9 2021 9 Thereafter 152 Total $ 198 Gas and Transportation Commitments The Company has entered into contractual arrangements to procure power, fuel and associated transportation services. For the years ended December 31, 2016 , 2015 and 2014 , the Company purchased $32 million , $40 million and $55 million , respectively, under such arrangements. As further described in Note 13 Related Party Transactions , these balances include intercompany purchases in the amount of $8 million , $13 million , and $12 million , respectively. As of December 31, 2016 , the Company's commitments under such outstanding agreements are estimated as follows: Period (In millions) 2017 $ 13 2018 5 2019 2 2020 3 2021 3 Thereafter 19 Total $ 45 Contingencies The Company's material legal proceedings are described below. The Company believes that it has valid defenses to these legal proceedings and intends to defend them vigorously. 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. 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. On August 3, 2016, the court approved a stipulation entered into by the parties. The stipulation provided that the plaintiffs would file an amended complaint by August 19, 2016, which they did on August 18, 2016. The defendants filed demurrers and a motion challenging jurisdiction on October 18, 2016. On February 24, 2017, the court approved the parties' stipulation which provides the plaintiffs' opposition is due on June 15, 2017 and defendants' reply is due on August 14, 2017. 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. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure | Related Party Transactions In addition to the transactions and relationships described elsewhere in the notes to the consolidated financial statements, certain subsidiaries of NRG provide services to the Company's project entities. Amounts due to NRG subsidiaries are recorded as accounts payable — affiliate and amounts due to the Company from NRG subsidiaries are recorded as accounts receivable — affiliate in the Company's balance sheet. The disclosures below summarize the Company's material related party transactions with NRG and its subsidiaries that are included in the Company's operating revenues, operating costs and other income and expense. Power Hedge Contracts by and between Renewable Entities and NRG Texas Power LLC Certain NRG Wind TE Holdco entities, which are subsidiaries in the Renewables segment, entered into power hedge contracts with NRG Texas Power LLC, a subsidiary of NRG, and generated $16 million and $12 million of revenues during the years ended December 31, 2015 and 2014, respectively. Included in the revenues for the years ended December 31, 2015 and 2014 are unrealized losses and gains, respectively, on forward contracts with NRG Texas Power LLC hedging the sale of power from Elbow Creek, extending through the end of 2015, as further described in Note 7 , Accounting for Derivative Instruments and Hedging Activities . Effective October 2015, Elbow Creek entered into a PPA with NRG Power Marketing LLC, or NRG Power Marketing, a wholly-owned subsidiary of NRG, as further described below, and the hedge agreement between Elbow Creek and NRG Texas Power LLC was terminated. PPA by and between Elbow Creek and NRG In October 2015, Elbow Creek, the Company's subsidiary in the Renewables segment, entered into a PPA with NRG Power Marketing for the sale of energy and environmental attributes with the effective date of November 1, 2015, and an expiration date of October 31, 2022. Elbow Creek generated $8 million of revenue during the year ended December 31, 2016 . PPA by and between NRG Energy Center Dover LLC and NRG In February 2016, NRG Energy Center Dover LLC, or NRG Dover, a subsidiary of the Company, entered into a PPA with NRG Power Marketing for the sale of energy and environmental attributes with an effective date of February 1, 2016 and expiration date of December 31, 2018. NRG Dover generated $5 million of revenue during the year ended December 31, 2016 . The agreement in place is in addition to the existing Power Sales and Services Agreement described further below. Power Sales and Services Agreement by and between NRG Energy Center Dover LLC and NRG NRG Dover is party to a Power Sales and Services Agreement with NRG Power Marketing. The agreement is automatically renewed on a month-to-month basis unless terminated by either party upon at least 30 day written notice. Under the agreement, NRG Power Marketing has the exclusive right to (i) manage, market and sell power, (ii) procure fuel and fuel transportation for operation of the Dover generating facility, to include for purposes other than generating power, (iii) procure transmission services required for the sale of power and (iv) procure and market emissions credits for operation of the Dover generating facility. In addition, NRG Power Marketing has the exclusive right and obligation to direct the output from the generating facility, in accordance with and to meet the terms of any power sales contracts executed against the power generation of the Dover facility. Under the agreement, NRG Power Marketing pays NRG Dover gross receipts generated through sales, less costs incurred by NRG Power Marketing related to providing such services as transmission and delivery costs, as well as fuel costs. For the years ended December 31, 2016 , 2015 and 2014 , NRG Dover purchased approximately $1 million , $5 million and $10 million , respectively, of natural gas from NRG Power Marketing under the Power Sales and Services Agreement. Energy Marketing Services Agreement by and between NRG Energy Center Minneapolis LLC and NRG NRG Energy Center Minneapolis LLC, or NRG Minneapolis, a subsidiary of the Company is party to an Energy Marketing Services Agreement with NRG Power Marketing. The agreement commenced in August 2014 and is automatically renewed annually unless terminated by either party upon at least 90 day written notice prior to the end of any term. Under the agreement, NRG Power Marketing will procure fuel and fuel transportation for the operation of the Minneapolis generating facility. For the years ended December 31, 2016 , 2015 and 2014 , NRG Minneapolis purchased approximately $7 million , $8 million and $2 million , respectively, of natural gas from NRG Power Marketing. Operations and Maintenance (O&M) Services Agreements by and between Thermal Entities and NRG On October 1, 2014, NRG entered into Plant O&M Services Agreements with certain wholly-owned subsidiaries of the Company. NRG provides necessary and appropriate services to operate and maintain the subsidiaries' plant operations, businesses and thermal facilities. NRG is to be 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. Prior to October 1, 2014, NRG provided the same services to Thermal entities on an informal basis. For each of the years ended December 31, 2016 and 2015 , total fees incurred under the agreements were $29 million . For the year ended December 31, 2014 , total fees incurred were $27 million . There was a balance of $20 million and $29 million due to NRG in accounts payable — affiliate as of December 31, 2016 , and 2015 , respectively. As of December 31, 2016 , $11 million of the balance was recorded in the current liabilities of the consolidated balance sheet and $9 million was recorded in non-current 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. The fees incurred under the agreements were $5 million , $4 million and $6 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. O&M Services Agreements by and between El Segundo and NRG El Segundo Operations El Segundo incurs fees under an O&M agreement with NRG El Segundo Operations, Inc., a wholly-owned subsidiary of NRG. Under the O&M agreement, NRG El Segundo Operations, Inc. manages, operates and maintains the El Segundo facility for an initial term of ten years following the commercial operations date. For each of the years ended December 31, 2016 , 2015 and 2014 , the costs incurred under the agreement were approximately $4 million . There was a balance of $1 million due to NRG El Segundo in accounts payable — affiliate as of December 31, 2016 and 2015 . Administrative Services Agreement by and between Marsh Landing and GenOn Energy Services, LLC and related Assignment and Assumption Agreement Marsh Landing was a party to an administrative services agreement with GenOn Energy Services, LLC, a wholly owned subsidiary of NRG, through December 18, 2016. Under the agreement, GenOn Energy Services, LLC provided processing and invoice payment services on behalf of Marsh Landing. Marsh Landing reimbursed GenOn Energy Services, LLC for the amounts it paid. The Company reimbursed costs under this agreement of approximately $14 million for the year ended December 31, 2016 , and $13 million for the years ended December 31, 2015 and 2014 , respectively. For the year ended December 31, 2014 , $2 million was capitalized. There was a balance of $1 million and $6 million due to GenOn Energy Services, LLC in accounts payable — affiliate as of December 31, 2016 and 2015 , respectively. Marsh Landing had the right to terminate the agreement for convenience upon thirty days prior written notice. In lieu of a termination of the agreement, Marsh Landing requested that GenOn Energy Services LLC enter into an assignment and assumption agreement with NRG West Coast LLC, a wholly owned subsidiary of NRG. The administrative services agreement was assigned to NRG West Coast LLC on December 19, 2016. Administrative Services Agreement by and between CVSR and NRG CVSR was a party to an administrative services agreement with NRG Energy Services, a wholly-owned subsidiary of NRG, which was subsequently assigned to NRG Renew Operations & Maintenance LLC, or RENOM, on July 15, 2015. The Company reimbursed a total of $4 million and $7 million to NRG Energy Services for the expenses incurred for the years ended December 31, 2015 and 2014, respectively. See below for further discussions of the costs incurred by CVSR under the administrative services agreement with RENOM in 2016. Administrative Services Agreement by and between the Company and NRG Renew Operations & Maintenance LLC Various wholly-owned subsidiaries of the Company in the Renewables segment are party to an administrative services agreement with 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 $13 million and $7 million for the years ended December 31, 2016 and 2015 , respectively. There was a balance of $5 million and $1 million due to RENOM as of December 31, 2016 and 2015 , respectively. O&M Services Agreements by and between Walnut Creek and NRG Walnut Creek incurs fees under an O&M agreement with NRG Energy Services LLC, a wholly-owned subsidiary of NRG. Under the O&M agreement, NRG Energy Services LLC manages, operates and maintains the Walnut Creek facility and is reimbursed for the services provided. The Company incurred total expenses for these services in the amount of $3 million for each of the years ended December 31, 2016 and 2015 and $2 million for the year ended December 31, 2014 . Management Services Agreement by and between the Company and NRG NRG provides the Company with various operational, 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 December 31, 2016 , the base management fee was approximately $7.5 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 future acquisitions and as a result of a change in the scope of services provided under the Management Services Agreement. During the year ended December 31, 2016 , the fee was increased by approximately $0.5 million per year, primarily due to the acquisition of the CVSR Drop Down. In addition to the base management fee, the Company is also responsible for any expenses that are directly incurred and paid for by NRG on behalf of the Company. Costs incurred under this agreement were approximately $10 million , $8 million and $6 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. There was a balance of $3 million in accounts payable — affiliate due to NRG as of December 31, 2016 . Administrative Services Agreements by and between Wind TE Holdco LLC and NRG NRG Asset Services LLC, a wholly-owned subsidiary of NRG, provides support services to NRG Wind TE Holdco LLC project entities pursuant to various support services agreements. The agreements provide for administrative and support services and reimbursements of certain insurance, consultant and credit costs. For the years ended December 31, 2016 , 2015 and 2014 , the costs incurred under the agreements were $2 million , $3 million and $1 million , respectively. Accounts Payable to NRG Repowering Holdings LLC During 2013, NRG Repowering Holdings, LLC, a wholly-owned subsidiary of NRG, made payments to BA Leasing BSC, LLC, or BA Leasing, of $18 million , which were expected to be repaid with the proceeds of the cash grant received by BA Leasing with respect to the PFMG DG Solar Projects, in connection with a sale-leaseback arrangement between the PFMG DG Solar Projects and BA Leasing. As of December 31, 2014 , PFMG DG Solar Projects had a corresponding receivable for the reimbursement of the cash grant from BA Leasing and related payable to NRG Repowering Holdings, LLC. In the first quarter of 2014, the PFMG DG Solar Projects received $11 million from BA Leasing and reduced the remaining receivable with an offset to the deferred liability recorded in connection with the sale - leaseback arrangement. The PFMG DG Solar Projects utilized the $11 million to repay NRG Repowering Holdings LLC. There was a balance of $7 million in accounts payable — affiliate |
Condensed Consolidating Financi
Condensed Consolidating Financial Information Condensed Consolidating Financial Information | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Unaudited Quarterly Financial D
Unaudited Quarterly Financial Data (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Unaudited Quarterly Data | Unaudited Quarterly Data Refer to Note 2 , Summary of Significant Accounting Policies and Note 3 , Business Acquisitions for a description of the effect of unusual or infrequently occurring events during the quarterly periods. Summarized unaudited quarterly financial data is as follows: Quarter Ended December 31, September 30, June 30, March 31, 2016 (In millions) Operating Revenues $ 232 $ 272 $ 283 $ 234 Operating (Loss) Income (99 ) 118 128 73 Net (Loss) Income (a) (139 ) 67 81 6 Net (Loss) Income (b) (149 ) 64 79 4 Change 10 $ 3 $ 2 $ 2 (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. (b) As previously reported. Quarter Ended December 31, September 30, June 30, March 31, 2015 (In millions) Operating Revenues $ 224 $ 256 $ 259 $ 214 Operating Income 71 102 99 50 Net Income (Loss) (a) 20 47 50 (24 ) Net Income (Loss) (b) 20 44 48 (24 ) Change $ — $ 3 $ 2 $ — |
Condensed Consolidating Finan23
Condensed Consolidating Financial Information CP Income Statement CP Income Statement (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan24
Condensed Consolidating Financial Information CP Comprehensive Income Condensed Consolidating Financial Information CP Comprehensive Income (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan25
Condensed Consolidating Financial Information CP Balance Sheet Condensed Consolidating CP Balance Sheet (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan26
Condensed Consolidating Financial Information CP Cash Flows Condensed Consolidating CP Cash Flows (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan27
Condensed Consolidating Financial Information PP Income Statement Condensed Consolidating PP Income Statement (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan28
Condensed Consolidating Financial Information PP Comprehensive Income Condensed Consolidating PP Comprehensive Income (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan29
Condensed Consolidating Financial Information PP Balance Sheet Condensed Consolidating PP Balance Sheet (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan30
Condensed Consolidating Financial Information PP Cash Flows Condensed Consolidating PP Cash Flows (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan31
Condensed Consolidating Financial Information PP2 Income Statement (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan32
Condensed Consolidating Financial Information PP2 Comprehensive Income (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan33
Condensed Consolidating Financial Information PP2 Cash Flows (Notes) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Cash Flows [Abstract] | |||
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2016 , Yield Operating LLC had outstanding $500 million of the 2024 Senior Notes and $350 million of the 2026 Senior Notes, collectively Senior Notes, as described in Note 10 , Long-term Debt . These Senior Notes are guaranteed by the Company, as well as certain of the Company's subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include the rest of the Company's subsidiaries, including the ones that are subject to project financing. Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes as of December 31, 2016 : NRG Yield LLC Alta Wind 1-5 Holding Company, LLC Alta Wind Company, LLC NRG Energy Center Omaha Holdings LLC NRG Energy Center Omaha LLC NYLD Fuel Cell Holdings LLC UB Fuel Cell, LLC NRG South Trent Holdings LLC NRG Yield DGPV Holding LLC NRG Yield RPV Holding LLC Yield Operating LLC conducts much of its business through and derives much of its income from its subsidiaries. Therefore, its ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and Yield Operating LLC's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to Yield Operating LLC. However, there may be restrictions for certain non-guarantor subsidiaries. The following condensed consolidating financial information presents the financial information of Yield LLC, Yield Operating LLC, the issuer of the Senior Notes, the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 under the SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities. In this presentation, Yield LLC consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of Yield LLC are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis. As described in Note 3 , Business Acquisitions , the Company completed the acquisitions of the March 2017 Drop Down Assets, CVSR Drop Down and November 2015 Drop Down Assets from NRG on March 27, 2017, September 1, 2016 and November 3, 2015, respectively. 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. Accordingly, the Company prepared its condensed consolidating financial statements to reflect the transfers as if they had taken place from the beginning of the financial statements period. The Company has recorded all minority interests in NRG Wind TE Holdco as noncontrolling interest in the Consolidated Financial Statements for all periods presented. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Yield LLC’s subsidiaries exceed 25 percent of the consolidated net assets of Yield LLC. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Yield LLC. For a discussion of Yield LLC's long-term debt, see Note 10 , Long-term Debt . For a discussion of Yield LLC's commitments and contingencies, see Note 14 , Commitments and Contingencies . For a discussion of Yield LLC's distributions to Yield, Inc. and NRG Energy, see Note 11 , Members' Equity . For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Summary of Significant Accoun34
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation and Principles of Consolidation The Company's consolidated financial statements have been prepared in accordance with GAAP. The ASC is the source of authoritative GAAP to be applied by nongovernmental entities. In addition, the rules and interpretative releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. |
Consolidation, Policy [Policy Text Block] | The consolidated financial statements include the Company's accounts and operations and those of its subsidiaries in which it has a controlling interest. All significant intercompany transactions and balances have been eliminated in consolidation. The usual condition for a controlling financial interest is ownership of a majority of the voting interests of an entity. However, a controlling financial interest may also exist through arrangements that do not involve controlling voting interests. As such, the Company applies the guidance of ASC 810, Consolidations, or ASC 810, to determine when an entity that is insufficiently capitalized or not controlled through its voting interests, referred to as a variable interest entity, or VIE, should be consolidated. |
Cash and Cash Equivalents, Unrestricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments with an original maturity of three months or less at the time of purchase. Cash and cash equivalents held at project subsidiaries was $110 million and $93 million as of December 31, 2016 and 2015 , respectively. |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Restricted cash consists primarily of funds held to satisfy the requirements of certain debt agreements and funds held within the Company's projects that are restricted in their use. Of these funds as of December 31, 2016 , approximately $25 million is designated for current debt service payments, $13 million is designated to fund operating expenses and $37 million is designated for distributions to the Company, with the remaining $90 million restricted for reserves including debt service, performance obligations and other reserves, as well as capital expenditures. |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Notes Receivable Notes receivable consist of receivables related to the financing of required network upgrades. The notes issued with respect to network upgrades will be repaid within a 5-year period following the date each facility reached commercial operations. Trade Receivables and Allowance for Doubtful Accounts Trade receivables are reported on the balance sheet at the invoiced amount adjusted for any write-offs and the allowance for doubtful accounts. The allowance for doubtful accounts is reviewed periodically based on amounts past due and significance. The allowance for doubtful accounts was immaterial as of December 31, 2016 and 2015 . |
Inventory, Policy [Policy Text Block] | Inventory Inventory consists principally of spare parts and fuel oil. Spare parts inventory is valued at weighted average cost, unless evidence indicates that the weighted average cost will not be recovered with a normal profit in the ordinary course of business. Fuel oil inventory is valued at the lower of weighted average cost or market. The Company removes fuel inventories as they are used in the production of steam, chilled water or electricity. Spare parts inventory are removed when they are used for repairs, maintenance or capital projects. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property, plant and equipment are stated at cost or, in the case of third party business acquisitions, fair value; however impairment adjustments are recorded whenever events or changes in circumstances indicate that their carrying values may not be recoverable. See Note 3 , Business Acquisitions , for more information on acquired property, plant and equipment. Significant additions or improvements extending asset lives are capitalized as incurred, while repairs and maintenance that do not improve or extend the life of the respective asset are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives. Certain assets and their related accumulated depreciation amounts are adjusted for asset retirements and disposals with the resulting gain or loss included in cost of operations in the consolidated statements of operations. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Asset Impairments Long-lived assets that are held and used are reviewed for impairment whenever events or changes in circumstances indicate carrying values may not be recoverable. Such reviews are performed in accordance with ASC 360. An impairment loss is indicated if the total future estimated undiscounted cash flows expected from an asset are less than its carrying value. An impairment charge is measured by the difference between an asset's carrying amount and fair value with the difference recorded in operating costs and expenses in the statements of operations. Fair values are determined by a variety of valuation methods, including appraisals, sales prices of similar assets and present value techniques. For further discussion of the Company's long-lived asset impairments, refer to Note 9 , Asset Impairments . Investments accounted for by the equity method are reviewed for impairment in accordance with ASC 323, Investments-Equity Method and Joint Ventures , which requires that a loss in value of an investment that is an other-than-temporary decline should be recognized. The Company identifies and measures losses in the value of equity method investments based upon a comparison of fair value to carrying value. |
Debt, Policy [Policy Text Block] | Debt Issuance Costs Debt issuance costs are capitalized and amortized as interest expense on a basis which approximates the effective interest method over the term of the related debt. Debt issuance costs related to the long term debt are presented as a direct deduction from the carrying amount of the related debt in both the current and prior periods. Debt issuance costs related to the senior secured revolving credit facility line of credit are recorded as a non-current asset on the balance sheet and are amortized over the term of the loan. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets represent contractual rights held by the Company. The Company recognizes specifically identifiable intangible assets including power purchase agreements, leasehold improvements, customer relationships, customer contracts, and development rights when specific rights and contracts are acquired. These intangible assets are amortized primarily on a straight-line basis. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Thermal Revenues Steam and chilled water revenue is recognized based on customer usage as determined by meter readings taken at month-end. Some locations read customer meters throughout the month, and recognize estimated revenue for the period between meter read date and month-end. The Thermal Business subsidiaries collect and remit state and local taxes associated with sales to their customers, as required by governmental authorities. These taxes are presented on a net basis in the income statement. Power Purchase Agreements, or PPAs The majority of the Company’s revenues are obtained through PPAs or other contractual agreements, which are accounted for as operating leases under ASC 840. ASC 840 requires the minimum lease payments received to be amortized over the term of the lease and contingent rentals are recorded when the achievement of the contingency becomes probable. Judgment is required by management in determining the economic life of each generating facility, in evaluating whether certain lease provisions constitute minimum payments or represent contingent rent and other factors in determining whether a contract contains a lease and whether the lease is an operating lease or capital lease. Certain of these leases have no minimum lease payments and all of the rental income under these leases is recorded as contingent rent on an actual basis when the electricity is delivered. The contingent rental income recognized in the years ended December 31, 2016 , 2015 and 2014 was $553 million , $416 million and $296 million , respectively. |
Derivatives, Policy [Policy Text Block] | Derivative Financial Instruments The Company accounts for derivative financial instruments under ASC 815, Derivatives and Hedging , or ASC 815, which requires the Company to record all derivatives on the balance sheet at fair value unless they qualify for a NPNS exception. Changes in the fair value of non-hedge derivatives are immediately recognized in earnings. Changes in the fair value of derivatives accounted for as hedges, if elected for hedge accounting, are either: • Recognized in earnings as an offset to the changes in the fair value of the related hedged assets, liabilities and firm commitments; or • Deferred and recorded as a component of accumulated OCI until the hedged transactions occur and are recognized in earnings. The Company's primary derivative instruments are power purchase or sale contracts used to mitigate variability in earnings due to fluctuations in market prices, fuels purchase contracts used to control customer reimbursable fuel cost, and interest rate instruments used to mitigate variability in earnings due to fluctuations in interest rates. On an ongoing basis, the Company assesses the effectiveness of all derivatives that are designated as hedges for accounting purposes in order to determine that each derivative continues to be highly effective in offsetting changes in fair values or cash flows of hedged items. Internal analyses that measure the statistical correlation between the derivative and the associated hedged item determine the effectiveness of such a contract designated as a hedge. If it is determined that the derivative instrument is not highly effective as a hedge, hedge accounting will be discontinued prospectively. In this case, the gain or loss previously deferred in accumulated OCI would be frozen until the underlying hedged item is delivered unless the transaction being hedged is no longer probable of occurring in which case the amount in OCI would be immediately reclassified into earnings. If the derivative instrument is terminated, the effective portion of this derivative deferred in accumulated OCI will be frozen until the underlying hedged item is delivered. Revenues and expenses on contracts that qualify for the NPNS exception are recognized when the underlying physical transaction is delivered. While these contracts are considered derivative financial instruments under ASC 815, they are not recorded at fair value, but on an accrual basis of accounting. If it is determined that a transaction designated as NPNS no longer meets the scope exception, the fair value of the related contract is recorded on the balance sheet and immediately recognized through earnings. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of accounts receivable, notes receivable and derivative instruments, which are concentrated within entities engaged in the energy and financial industry. These industry concentrations may impact the overall exposure to credit risk, either positively or negatively, in that the customers may be similarly affected by changes in economic, industry or other conditions. In addition, many of the Company's projects have only one customer. However, the Company believes that the credit risk posed by industry concentration is offset by the diversification and creditworthiness of its customer base. See Note 6 , Fair Value of Financial Instruments , for a further discussion of derivative concentrations and Note 12 , Segment Reporting , for concentration of counterparties. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, accounts receivable - affiliate, accounts payable, current portion of account payable - affiliate, and accrued expenses and other current liabilities approximate fair value because of the short-term maturity of these instruments. See Note 6 , Fair Value of Financial Instruments , for a further discussion of fair value of financial instruments. |
Asset Retirement Obligations, Policy [Policy Text Block] | Asset Retirement Obligations Asset retirement obligations, or AROs, are accounted for in accordance with ASC 410-20, Asset Retirement Obligations, or ASC 410-20. Retirement obligations associated with long-lived assets included within the scope of ASC 410-20 are those for which a legal obligation exists under enacted laws, statutes, and written or oral contracts, including obligations arising under the doctrine of promissory estoppel, and for which the timing and/or method of settlement may be conditional on a future event. ASC 410-20 requires an entity to recognize the fair value of a liability for an ARO in the period in which it is incurred and a reasonable estimate of fair value can be made. Upon initial recognition of a liability for an ARO, the asset retirement cost is capitalized by increasing the carrying amount of the related long-lived asset by the same amount. Over time, the liability is accreted to its future value, while the capitalized cost is depreciated over the useful life of the related asset. The Company's AROs are primarily related to the future dismantlement of equipment on leased property and environmental obligations related to site closures and fuel storage facilities. The Company records AROs as part of other non-current liabilities on its balance sheet. The following table represents the balance of ARO obligations as of December 31, 2016 and 2015 , along with the additions and accretion related to the Company's ARO obligations for the year ended December 31, 2016 : (In millions) Balance as of December 31, 2015 $ 43 Revisions in estimates for current obligations 2 Accretion — expense 3 Balance as of December 31, 2016 $ 48 |
Guarantees, Indemnifications and Warranties Policies [Policy Text Block] | Guarantees The Company enters into various contracts that include indemnification and guarantee provisions as a routine part of its business activities. Examples of these contracts include operation and maintenance agreements, service agreements, commercial sales arrangements and other types of contractual agreements with vendors and other third parties, as well as affiliates. These contracts generally indemnify the counterparty for tax, environmental liability, litigation and other matters, as well as breaches of representations, warranties and covenants set forth in these agreements. Because many of the guarantees and indemnities the Company issues to third parties and affiliates do not limit the amount or duration of its obligations to perform under them, there exists a risk that the Company may have obligations in excess of the amounts agreed upon in the contracts mentioned above. For those guarantees and indemnities that do not limit the liability exposure, the Company may not be able to estimate what the liability would be, until a claim is made for payment or performance, due to the contingent nature of these contracts. |
Equity Method Investments, Policy [Policy Text Block] | Investments Accounted for by the Equity Method The Company has investments in various energy projects accounted for by the equity method, seven of which are VIEs, where the Company is not a primary beneficiary, and two of which are owned by a subsidiary that is consolidated as a VIE, as described in Note 5 , Investments Accounted for by the Equity Method and Variable Interest Entities . The equity method of accounting is applied to these investments in affiliates because the ownership structure prevents the Company from exercising a controlling influence over the operating and financial policies of the projects. Under this method, equity in pre-tax income or losses of the investments is reflected as equity in earnings of unconsolidated affiliates. Distributions from equity method investments that represent earnings on the Company's investment are included within cash flows from operating activities and distributions from equity method investments that represent a return of the Company's investment are included within cash flows from investing activities. |
Lease, Policy [Policy Text Block] | Sale Leaseback Arrangements The Company is party to sale-leaseback arrangements that provide for the sale of certain assets to a third party and simultaneous leaseback to the Company. In accordance with ASC 840-40, Sale-Leaseback Transactions , if the seller-lessee retains, through the leaseback, substantially all of the benefits and risks incident to the ownership of the property sold, the sale-leaseback transaction is accounted for as a financing arrangement. An example of this type of continuing involvement would include an option to repurchase the assets or the buyer-lessor having the option to sell the assets back to the Company. This provision is included in most of the Company’s sale-leaseback arrangements. As such, the Company accounts for these arrangements as financings. Under the financing method, the Company does not recognize as income any of the sale proceeds received from the lessor that contractually constitutes payment to acquire the assets subject to these arrangements. Instead, the sale proceeds received are accounted for as financing obligations and leaseback payments made by the Company are allocated between interest expense and a reduction to the financing obligation. Interest on the financing obligation is calculated using the Company’s incremental borrowing rate at the inception of the arrangement on the outstanding financing obligation. Judgment is required to determine the appropriate borrowing rate for the arrangement and in determining any gain or loss on the transaction that would be recorded either at the end of or over the lease term. |
Business Combinations Policy [Policy Text Block] | Business Combinations The Company accounts for its business combinations in accordance with ASC 805, Business Combinations, or ASC 805. For third party acquisitions, ASC 805 requires an acquirer to recognize and measure in its financial statements the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree at fair value at the acquisition date. It also recognizes and measures the goodwill acquired or a gain from a bargain purchase in the business combination and determines what information to disclose to enable users of an entity's financial statements to evaluate the nature and financial effects of the business combination. In addition, transaction costs are expensed as incurred. For acquisitions that relate to entities under common control, ASC 805 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 of from the date the entities were under common control (if later than the beginning of the financial statement period). The difference between the cash paid and historical value of the entities' equity is recorded as a distribution/contribution from/to NRG with the offset to contributed capital. Transaction costs are expensed as incurred. |
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 amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during the reporting period. Actual results could be different from these estimates. In recording transactions and balances resulting from business operations, the Company uses estimates based on the best information available. Estimates are used for such items as plant depreciable lives, uncollectible accounts, environmental liabilities, acquisition accounting and legal costs incurred in connection with recorded loss contingencies, among others. In addition, estimates are used to test long-lived assets for impairment and to determine the fair value of impaired assets. As better information becomes available or actual amounts are determinable, the recorded estimates are revised. Consequently, operating results can be affected by revisions to prior accounting estimates. |
Tax Equity Arrangements, Policy [Policy Text Block] | Tax Equity Arrangements Certain portions of the Company’s noncontrolling interests in subsidiaries represent third-party interests in the net assets under certain tax equity arrangements, which are consolidated by the Company, that have been entered into to finance the cost of wind facilities eligible for certain tax credits. Additionally, certain portions of the Company’s investments in unconsolidated affiliates reflect the Company’s interests in tax equity arrangements, that are not consolidated by the Company, that have been entered into to finance the cost of distributed solar energy systems under operating leases or PPAs eligible for certain tax credits. The Company has determined that the provisions in the contractual agreements of these structures represent substantive profit sharing arrangements. Further, the Company has determined that the appropriate methodology for calculating the noncontrolling interest and investment in unconsolidated affiliates that reflects the substantive profit sharing arrangements is a balance sheet approach utilizing the hypothetical liquidation at book value, or HLBV, method. Under the HLBV method, the amounts reported as noncontrolling interests and investment in unconsolidated affiliates represent the amounts the investors to the tax equity arrangements would hypothetically receive at each balance sheet date under the liquidation provisions of the contractual agreements, assuming the net assets of the funding structures were liquidated at their recorded amounts determined in accordance with GAAP. The investors’ interests in the results of operations of the funding structures are determined as the difference in noncontrolling interests and investment in unconsolidated affiliates at the start and end of each reporting period, after taking into account any capital transactions between the structures and the funds’ investors. The calculations utilized to apply the HLBV method include estimated calculations of taxable income or losses for each reporting period. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain prior year amounts have been reclassified for comparative purposes. |
Recent Accounting Developments | Recent Accounting Developments 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 were issued to address the diversity in classification and presentation of changes in restricted cash and restricted cash equivalents on the statement of cash flows which is currently not addressed under Topic 230. The amendments of ASU No. 2016-18 would 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 should be applied retrospectively. The Company is currently evaluating the impact of the standard on the Company’s statement of cash flows. ASU 2016-16 — In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740) , Intra-Entity Transfers of Assets Other Than Inventory, or ASU No. 2016-16. The amendments of ASU No. 2016-16 were issued to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party which has resulted in diversity in practice and increased complexity within financial reporting. The amendments of ASU No. 2016-16 would require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and do not require new disclosure requirements. The amendments of ASU No. 2016-16 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. 2016-16 should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently evaluating the impact of the standard on the Company's results of operations, cash flows and financial position. ASU 2016-15 — In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) , Classification of Certain Cash Receipts and Cash Payments, or ASU No. 2016-15. The amendments of ASU No. 2016-15 were issued to address eight specific cash flow issues for which stakeholders have indicated to the FASB that a diversity in practice existed in how entities were presenting and classifying these items in the statement of cash flows. The issues addressed by ASU No. 2016-15 include but are not limited to the classification of debt prepayment and debt extinguishment costs, payments made for contingent consideration for a business combination, proceeds from the settlement of insurance proceeds, distributions received from equity method investees and separately identifiable cash flows and the application of the predominance principle. The amendments of ASU No. 2016-15 are effective for public entities for fiscal years beginning after December 15, 2017 and interim periods in those fiscal years. Early adoption is permitted, including adoption in an interim fiscal period with all amendments adopted in the same period. The adoption of ASU No. 2016-15 is required to be applied retrospectively. The Company is currently evaluating the impact of the standard on the Company's statement of cash flows. ASU 2016-07 — In March 2016, the FASB issued ASU No. 2016-07, Investments - Equity Method and Joint Ventures (Topic 323), or ASU No. 2016-07. The amendments of ASU No. 2016-07 eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting with no retroactive adjustment to the investment. In addition, ASU No. 2016-07 requires that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The Company adopted this standard effective January 1, 2017. The adoption of ASU No. 2016-07 is required to be applied prospectively. The Company does not expect the standard to have a material impact on its results of operations, cash flows and financial position. ASU 2016-02 — In 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. As this review is still in process, it is currently not practicable to quantify the impact of adopting the ASU at this time. ASU 2016-01 — In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , or ASU No. 2016-01. The amendments of ASU No. 2016-01 eliminate available-for-sale classification of equity investments and require that equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be generally measured at fair value with changes in fair value recognized in net income. Further, the amendments require that financial assets and financial liabilities to be presented separately in the notes to the financial statements, grouped by measurement category and form of financial asset. The guidance in ASU No. 2016-01 is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those annual periods. The Company is currently evaluating the impact of the standard on the Company's results of operations, cash flows and financial position. ASU 2015-16 — In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments , or ASU No. 2015-16. The amendments of ASU No. 2015-16 require that an acquirer recognize measurement period adjustments to the provisional amounts recognized in a business combination in the reporting period during which the adjustments are determined. Additionally, the amendments of ASU No. 2015-16 require the acquirer to record in the same period's financial statements the effect on earnings of changes in depreciation, amortization or other income effects, if any, as a result of the measurement period adjustment, calculated as if the accounting had been completed at the acquisition date as well as disclosing on either the face of the income statement or in the notes the portion of the amount recorded in current period earnings that would have been recorded in previous reporting periods. The guidance in ASU No. 2015-16 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The amendments should be applied prospectively. The Company adopted ASU No. 2015-16 for the year ended December 31, 2016, and the adoption did not have a material impact on the Company's results of operations, cash flows and financial position. 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, however, the Company continues to assess the impact in connection with its plan of adoption. |
Segment Reporting Segment Repor
Segment Reporting Segment Reporting (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Reporting, Policy | The Company’s segment structure reflects how management currently operates and allocates resources. The Company's businesses are 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. |
Nature of Business Nature of Bu
Nature of Business Nature of Business (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
IPO of NRG Yield [Abstract] | |
IPO of NRG Yield | The following table represents the structure of the Company as of December 31, 2016 : |
Schedule of Ownership Percentage, Net Capacity, Offtake Counterparty and Year of Offtake Expiration by Operating Asset [Table Text Block] | As of December 31, 2016 , 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 (e) 50 % 265 PacifiCorp 2036 921 Distributed Solar AZ DG Solar Projects 100 % 5 Various 2025 - 2033 PFMG DG Solar Projects 51 % 4 Various 2032 9 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) 74.3 % 16 Corn Belt Power Cooperative 2027 Elbow Creek (b) 75 % 92 NRG Power Marketing LLC 2022 Elkhorn Ridge (b) 50.3 % 41 Nebraska Public Power District 2029 Forward (b) 75 % 22 Constellation NewEnergy, Inc. 2017 Goat Wind (b) 74.9 % 113 Dow Pipeline Company 2025 Hardin (b) 74.3 % 11 Interstate Power and Light Company 2027 Laredo Ridge 100 % 80 Nebraska Public Power District 2031 Lookout (b) 75 % 29 Southern Maryland Electric Cooperative 2030 Odin (b) 74.9 % 15 Missouri River Energy Services 2028 Pinnacle 100 % 55 Maryland Department of General Services and University System of Maryland 2031 San Juan Mesa (b) 56.3 % 68 Southwestern Public Service Company 2025 Projects Percentage Ownership Net Capacity (MW) (a) Offtake Counterparty Expiration Sleeping Bear (b) 75 % 71 Public Service Company of Oklahoma 2032 South Trent 100 % 101 AEP Energy Partners 2029 Spanish Fork (b) 75 % 14 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) 74.9 % 121 Southwestern Public Service Company 2027 1,999 Thermal Thermal equivalent MWt (c) 100 % 1,319 Various Various NRG Energy Center Dover LLC 100 % 103 NRG Power Marketing LLC 2018 Thermal generation 100 % 20 Various Various 1,442 Total net capacity (excluding equivalent MWt) (d) 4,997 (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 December 31, 2016 . (b) Projects are part of tax equity arrangements. (c) 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. (d) NRG Yield's total generation capacity is net of 6 MWs for noncontrolling interest for Spring Canyon II and III. NRG Yield's generation capacity including this noncontrolling interest was 5,003 MWs. (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 acquisition (ownership percentage is based upon cash to be distributed). |
Summary of Significant Accoun37
Summary of Significant Accounting Policies Noncontrolling Interest Disclosure (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Summary of Significant Accounting Policies [Abstract] | |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | The following table represents the balance of ARO obligations as of December 31, 2016 and 2015 , along with the additions and accretion related to the Company's ARO obligations for the year ended December 31, 2016 : (In millions) Balance as of December 31, 2015 $ 43 Revisions in estimates for current obligations 2 Accretion — expense 3 Balance as of December 31, 2016 $ 48 |
Business Acquisitions (Tables)
Business Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
CVSR [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following is the summary of historical net liabilities assumed in connection with the CVSR Drop Down as of September 1, 2016: CVSR (In millions) Current assets $ 95 Property, plant and equipment 826 Non-current assets 13 Total assets 934 Debt (a) 966 Other current and non-current liabilities 12 Total liabilities 978 Net liabilities assumed (44 ) Accumulated other comprehensive loss (25 ) Historical net liabilities assumed $ (19 ) (a) Net of deferred financing costs of $5 million . |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following tables present the Company's historical information summary combining the financial information for the CVSR Drop Down and March 2017 Drop Down Assets transferred in connection with the acquisitions As of December 31, 2016 As Previously Reported March 2017 Drop Down Assets As Currently Reported (In millions) Current assets $ 645 $ 11 $ 656 Property, plant and equipment 5,460 — 5,460 Non-current assets 2,062 442 2,504 Total assets 8,167 453 8,620 Debt 5,728 279 6,007 Other current and non-current liabilities 304 5 309 Total liabilities 6,032 284 6,316 Net assets $ 2,135 $ 169 $ 2,304 As of December 31, 2015 As Previously Reported CVSR March 2017 Drop Down Assets As Currently Reported (a) (In millions) Current assets $ 321 $ 98 $ — $ 419 Property, plant and equipment 5,056 822 — 5,878 Non-current assets 2,231 (6 ) 100 2,325 Total assets 7,608 914 100 8,622 Debt 4,835 843 — 5,678 Other current and non-current liabilities 339 (35 ) — 304 Total liabilities 5,174 808 — 5,982 Net assets $ 2,434 $ 106 $ 100 $ 2,640 Year ended December 31, 2016 As Previously Reported March 2017 Drop Down Assets As Currently Reported (In millions) Total operating revenues $ 1,021 $ — $ 1,021 Operating income 220 — 220 Net (loss) income (2 ) 17 15 Year ended December 31, 2015 As Previously Reported CVSR March 2017 Drop Down Assets As Currently Reported (In millions) Total operating revenues $ 869 $ 84 $ — $ 953 Operating income 279 43 — 322 Net income 78 10 5 93 Year ended December 31, 2014 As Previously Reported (a) CVSR March 2017 Drop Down Assets As Currently Reported (In millions) Total operating revenues $ 746 $ 82 $ — $ 828 Operating income 266 40 — 306 Net income 108 9 5 122 |
Alta Wind Portfolio [Member] | |
Business Acquisition [Line Items] | |
Business Acquisition, Purchase Price [Table Text Block] | he purchase price of $923 million was allocated as follows: Acquisition Date Fair Value at December 31, 2014 Measurement period adjustments Revised Acquisition Date Assets (In millions) Cash $ 22 $ — $ 22 Current and non-current assets 49 (2 ) 47 Property, plant and equipment 1,304 6 1,310 Intangible assets 1,177 (6 ) 1,171 Total assets acquired 2,552 (2 ) 2,550 Liabilities Debt 1,591 — 1,591 Current and non-current liabilities 38 (2 ) 36 Total liabilities assumed 1,629 (2 ) 1,627 Net assets acquired $ 923 $ — $ 923 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | The Company’s major classes of property, plant, and equipment were as follows: December 31, 2016 December 31, 2015 Depreciable Lives (In millions) Facilities and equipment $ 6,215 $ 6,480 2 - 40 Years Land and improvements 171 171 Construction in progress (a) 25 9 Total property, plant and equipment 6,411 6,660 Accumulated depreciation (951 ) (782 ) Net property, plant and equipment $ 5,460 $ 5,878 (a) As of December 31, 2016, construction in progress includes $20 million of capital expenditures that relate to prepaid long-term service agreements primarily in the Conventional segment. |
Equity Method Investments and40
Equity Method Investments and VIEs (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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 December 31, 2016 : (In millions) NRG Wind TE Holdco Alta TE Holdco Spring Canyon Other current and non-current assets $ 193 $ 17 $ 4 Property, plant and equipment 441 461 100 Intangible assets 2 274 — Total assets 636 752 104 Current and non-current liabilities 209 9 6 Total liabilities 209 9 6 Noncontrolling interest 139 107 67 Net assets less noncontrolling interests $ 288 $ 636 $ 31 |
Equity Method Investments [Table Text Block] | The following table summarizes the Company's equity method investments as of December 31, 2016 : Name Economic Interest Investment Balance (In millions) Utah Solar Portfolio (a) 50% $346 Desert Sunlight 25% 282 GenConn (b) 50% 106 Agua Caliente Borrower 2 16% 96 Elkhorn Ridge (c) 50.3% 85 San Juan Mesa (c) 56.3% 74 NRG DGPV Holdco 1 LLC (d) 95% 75 NRG DGPV Holdco 2 LLC (d) 95% 24 NRG RPV Holdco 1 LLC (d) 95% 71 Avenal 50% (7) Total equity investments in affiliates $1,152 (a) Economic interest based on cash to be distributed. Four Brothers Solar, LLC, Granite Mount Holdings, LLC and Iron Spring Holdings, LLC are tax equity structures and VIEs. The related allocations are described below. (b) GenConn is a variable interest entity. (c) San Juan Mesa and Elkhorn Ridge are part of the Wind TE Holdco tax equity structure, as described below. San Juan Mesa and Elkhorn Ridge are owned 75% and 66.7% , respectively, by Wind TE Holdco. The Company owns 75% of the Class B interests in Wind TE Holdco. (d) Economic interest based on cash to be distributed. NRG DGPV Holdco 1 LLC, NRG DGPV Holdco 2 LLC, and NRG RPV Holdco 1 LLC are tax equity structures and VIEs. The related allocations are described below. |
Entities that are not consolidated [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Equity Method Investments [Table Text Block] | The following tables present summarized financial information for the Company's significant equity method investments: Year Ended December 31, 2016 2015 2014 Income Statement Data: (In millions) GenConn Operating revenues $ 72 $ 78 $ 82 Operating income 38 40 40 Net income 26 28 28 Desert Sunlight Operating revenues $ 211 $ 206 134 Operating income 129 124 74 Net income 80 73 37 Utah Solar Portfolio (a) Operating revenues $ 13 $ — $ — Operating loss (6 ) (1 ) — Net loss (6 ) (1 ) — As of December 31, 2016 2015 Balance Sheet Data: (In millions) GenConn Current assets $ 36 $ 36 Non-current assets 389 416 Current liabilities 16 16 Non-current liabilities 196 215 Desert Sunlight Current assets $ 281 $ 310 Non-current assets 1,401 1,435 Current liabilities 64 82 Non-current liabilities 1,043 1,086 Utah Solar Portfolio (a) Current assets $ 20 $ 11 Non-current assets 1,105 705 Current liabilities 14 229 Non-current liabilities 38 — |
Fair Value of Financial Instr41
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 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 December 31, 2016 As of December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Assets: Notes receivable, including current portion $ 30 $ 30 $ 47 $ 47 Liabilities: Long-term debt, including current portion — affiliate 618 608 618 553 Long-term debt, including current portion — external $ 5,451 $ 5,435 $ 5,060 $ 4,974 |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of December 31, 2016 and 2015 : As of December 31, 2016 As of December 31, 2015 Level 2 Level 3 Level 2 Level 3 (In millions) Long-term debt, including current portion $ 833 $ 5,210 $ 413 $ 5,114 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | 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 December 31, 2016 As of December 31, 2016 As of December 31, 2015 Fair Value (a) Fair Value (a) Fair Value (a) (In millions) Level 1 Level 2 Level 2 Derivative assets: Commodity contracts $ 1 $ 1 $ — Interest rate contracts — 1 — Total assets $ 1 $ 2 $ — Derivative liabilities: Commodity contracts $ — $ 1 $ 2 Interest rate contracts — 75 98 Total liabilities $ — $ 76 $ 100 (a) There were no assets or liabilities classified as Level 1 as of December 31, 2015 . There were no assets or liabilities classified Level 3 as of December 31, 2016 and 2015 . |
Accounting for Derivative Ins42
Accounting for Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | The following table summarizes the net notional volume buy/(sell) of the Company's open derivative transactions broken out by commodity as of December 31, 2016 and 2015 : Total Volume December 31, 2016 December 31, 2015 Commodity Units (In millions) Natural Gas MMBtu 3 4 Interest Dollars $ 2,070 $ 1,991 |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | 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 December 31, 2016 December 31, 2015 (In millions) Derivatives Designated as Cash Flow Hedges: Interest rate contracts current $ — $ 26 $ 34 Interest rate contracts long-term 1 39 56 Total Derivatives Designated as Cash Flow Hedges 1 65 90 Derivatives Not Designated as Cash Flow Hedges : Interest rate contracts current — 5 3 Interest rate contracts long-term — 5 5 Commodity contracts current 2 1 2 Total Derivatives Not Designated as Cash Flow Hedges 2 11 10 Total Derivatives $ 3 $ 76 $ 100 |
Offsetting Liabilities [Table Text Block] | Gross Amounts Not Offset in the Statement of Financial Position 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 ) |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table summarizes the effects on the Company’s accumulated OCL balance attributable to interest rate swaps designated as cash flow hedge derivatives: Year ended December 31, 2016 2015 2014 (In millions) Accumulated OCL beginning balance $ (99 ) $ (82 ) $ (17 ) Reclassified from accumulated OCL to income due to realization of previously deferred amounts 17 17 15 Mark-to-market of cash flow hedge accounting contracts (4 ) (34 ) (80 ) Accumulated OCL ending balance (86 ) (99 ) (82 ) Accumulated OCL attributable to noncontrolling interests (3 ) (3 ) (2 ) Accumulated OCL attributable to NRG Yield LLC $ (83 ) $ (96 ) $ (80 ) Losses expected to be realized from OCL during the next 12 months $ 19 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 years ended December 31, 2016 , 2015 and 2014 . |
Intangible Assets Intangible 43
Intangible Assets Intangible Assets - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets | The following tables summarize the components of intangible assets subject to amortization: Year ended December 31, 2016 PPAs Leasehold Rights Customer Customer Contracts Emission Allowances Development Other Total (In millions) January 1, 2016 $ 1,264 $ 86 $ 66 $ 15 $ 15 $ 3 $ 6 $ 1,455 Other — — — — (6 ) — — (6 ) December 31, 2016 1,264 86 66 15 9 3 6 1,449 Less accumulated amortization (138 ) (9 ) (4 ) (7 ) (2 ) (1 ) (2 ) (163 ) Net carrying amount $ 1,126 $ 77 $ 62 $ 8 $ 7 $ 2 $ 4 $ 1,286 Year ended December 31, 2015 PPAs Leasehold Rights Customer Customer Contracts Emission Allowances Development Other Total (In millions) January 1, 2015 $ 1,270 $ 86 $ 66 $ 15 $ 16 $ 3 $ 6 $ 1,462 Other (6 ) — — — (1 ) — — (7 ) December 31, 2015 1,264 86 66 15 15 3 6 1,455 Less accumulated amortization (75 ) (5 ) (3 ) (6 ) (1 ) (1 ) (2 ) (93 ) Net carrying amount $ 1,189 $ 81 $ 63 $ 9 $ 14 $ 2 $ 4 $ 1,362 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of long-term debt | The Company's borrowings, including short term and long term portions consisted of the following: December 31, 2016 December 31, 2015 Interest rate % (a) Letters of Credit Outstanding at December 31, 2016 (In millions, except rates) 2026 Senior Notes $ 350 $ — 5.000 2024 Senior Notes 500 500 5.375 Long-term debt - affiliate, due 2020 281 281 3.325 Long-term debt - affiliate, due 2019 337 337 3.580 NRG Yield LLC and NRG Yield Operating LLC Revolving Credit Facility, due 2019 (b) — 306 L+2.500 60 Project-level debt: Alpine, due 2022 145 154 L+1.750 37 Alta Wind I, lease financing arrangement, due 2034 242 252 7.015 16 Alta Wind II, lease financing arrangement, due 2034 191 198 5.696 27 Alta Wind III, lease financing arrangement, due 2034 198 206 6.067 27 Alta Wind IV, lease financing arrangement, due 2034 128 133 5.938 19 Alta Wind V, lease financing arrangement, due 2035 206 213 6.071 30 Alta Realty Investments, due 2031 31 33 7.000 — Alta Wind Asset Management, due 2031 18 19 L+2.375 — Avra Valley, due 2031 57 60 L+1.750 3 Blythe, due 2028 19 21 L+1.625 6 Borrego, due 2025 and 2038 69 72 L+ 2.500/5.650 5 CVSR, due 2037 771 793 2.339 - 3.775 — CVSR Holdco Notes, due 2037 199 — 4.680 13 El Segundo Energy Center, due 2023 443 485 L+1.625 - L+2.250 82 Energy Center Minneapolis, due 2017 and 2025 96 108 5.950 -7.250 — Energy Center Minneapolis Series D Notes, due 2031 125 — 3.550 — Kansas South, due 2031 30 33 L+2.000 4 Laredo Ridge, due 2028 100 104 L+1.875 10 Marsh Landing, due 2017 and 2023 370 418 L+1.750 - L+1.875 22 PFMG and related subsidiaries financing agreement, due 2030 27 29 6.000 — Roadrunner, due 2031 37 40 L+1.625 5 South Trent Wind, due 2020 57 62 L+1.625 10 TA High Desert, due 2020 and 2032 49 52 L+2.500/5.150 8 Tapestry, due 2021 172 181 L+1.625 20 Utah Solar Portfolio, due 2022 287 — L+2.625 13 Viento, due 2023 178 189 L+2.750 27 Walnut Creek, due 2023 310 351 L+1.625 41 WCEP Holdings, due 2023 46 46 L+3.000 — Other — 2 various — Subtotal project-level debt 4,601 4,254 Total debt 6,069 5,678 Less current maturities (291 ) (264 ) Less deferred financing costs (62 ) (53 ) Total long-term debt $ 5,716 $ 5,361 |
Schedule of Maturities of Long-term Debt | Annual Maturities Annual payments based on the maturities of the Company's debt, for the years ending after December 31, 2016 , are as follows: (In millions) 2017 $ 291 2018 304 2019 657 2020 647 2021 452 Thereafter 3,718 Total $ 6,069 |
Schedule of Derivative Instruments | The following table summarizes the swaps, some of which are forward starting as indicated, related to the Company's project level debt as of December 31, 2016 : % of Principal Fixed Interest Rate Floating Interest Rate Notional Amount at December 31, 2016 (In millions) Effective Date Maturity Date Alpine 85 % 2.744 % 3-Month LIBOR $ 115 various December 31, 2029 Alpine 85 % 2.421 % 3-Month LIBOR 8 June 24, 2014 June 30, 2025 Avra Valley 85 % 2.333 % 3-Month LIBOR 49 November 30, 2012 November 30, 2030 AWAM 100 % 2.47 % 3-Month LIBOR 18 May 22, 2013 May 15, 2031 Blythe 75 % 3.563 % 3-Month LIBOR 14 June 25, 2010 June 25, 2028 Borrego 75 % 1.125 % 3-Month LIBOR 7 April 3, 2013 June 30, 2020 El Segundo 75 % 2.417 % 3-Month LIBOR 330 November 30, 2011 August 31, 2023 Kansas South 75 % 2.368 % 6-Month LIBOR 23 June 28, 2013 December 31, 2030 Laredo Ridge 75 % 2.31 % 3-Month LIBOR 79 March 31, 2011 March 31, 2026 Marsh Landing 75 % 3.244 % 3-Month LIBOR 342 June 28, 2013 June 30, 2023 Roadrunner 75 % 4.313 % 3-Month LIBOR 28 September 30, 2011 December 31, 2029 South Trent 75 % 3.265 % 3-Month LIBOR 43 June 15, 2010 June 14, 2020 South Trent 75 % 4.95 % 3-Month LIBOR 21 June 30, 2020 June 14, 2028 Tapestry 75 % 2.21 % 3-Month LIBOR 155 December 30, 2011 December 21, 2021 Tapestry 50 % 3.57 % 3-Month LIBOR 60 December 21, 2021 December 21, 2029 Utah Solar Portfolio 80 % various 1-Month LIBOR 230 December 15, 2016 September 30, 2036 Viento Funding II 90 % various 6-Month LIBOR 160 various various Viento Funding II 90 % 4.985 % 6-Month LIBOR 65 July 11, 2023 June 30, 2028 Walnut Creek Energy 75 % various 3-Month LIBOR 276 June 28, 2013 May 31, 2023 WCEP Holdings 90 % 4.003 % 3-Month LIBOR 46 June 28, 2013 May 31, 2023 Total $ 2,069 |
Members' Equity (Tables)
Members' Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Members' Equity [Abstract] | |
Schedule of Dividends Paid | The following table lists the distributions paid on the Company's Class A, Class B, Class C and Class D units during the year ended December 31, 2016 : Fourth Quarter 2016 Third Quarter 2016 Second Quarter 2016 First Quarter 2016 Distributions per Class A and Class B units $ 0.25 $ 0.24 $ 0.23 $ 0.225 Distributions per Class C and Class D units $ 0.25 $ 0.24 $ 0.23 $ 0.225 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2011 | |
Segment Reporting [Abstract] | |||
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | The Company generated more than 10% of its revenues from the following customers for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Customer Conventional (%) Renewables (%) Conventional (%) Renewables (%) Conventional (%) Renewables (%) SCE 21% 21% 23% 17% 24% 7% PG&E 12% 11% 13% 12% 15% 13% | ||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year ended December 31, 2016 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 333 $ 518 $ 170 $ — $ 1,021 Cost of operations 66 126 114 — 306 Depreciation and amortization 80 197 20 — 297 Impairment losses — 183 — — 183 General and administrative — — — 14 14 Acquisition-related transaction and integration costs — — — 1 1 Operating income (loss) 187 12 36 (15 ) 220 Equity in earnings of unconsolidated affiliates 13 47 — — 60 Other income, net 1 2 — — 3 Interest expense (48 ) (147 ) (7 ) (66 ) (268 ) Net Income (Loss) $ 153 $ (86 ) $ 29 $ (81 ) $ 15 Balance Sheet Equity investment in affiliates $ 106 $ 1,046 $ — $ — $ 1,152 Capital expenditures (a) 7 2 14 — 23 Total Assets $ 1,993 $ 5,988 $ 426 $ 213 $ 8,620 (a) Includes accruals. | Year ended December 31, 2015 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 336 $ 443 $ 174 $ — $ 953 Cost of operations 59 136 126 — 321 Depreciation and amortization 81 197 19 — 297 General and administrative — — — 10 10 Acquisition-related transaction and integration costs — — — 3 3 Operating income (loss) 196 110 29 (13 ) 322 Equity in earnings of unconsolidated affiliates 14 17 — — 31 Other income, net 1 2 — — 3 Loss on debt extinguishment (7 ) (2 ) — — (9 ) Interest expense (48 ) (147 ) (7 ) (52 ) (254 ) Net Income (Loss) $ 156 $ (20 ) $ 22 $ (65 ) $ 93 Balance Sheet Equity investments in affiliates $ 110 $ 687 $ — $ — $ 797 Capital expenditures (a) 4 6 20 — 30 Total Assets $ 2,102 $ 6,070 $ 428 $ 22 $ 8,622 (a) Includes accruals. | Year ended December 31, 2014 (In millions) Conventional Generation Renewables Thermal Corporate Total Operating revenues $ 317 $ 316 $ 195 $ — $ 828 Cost of operations 55 83 139 — 277 Depreciation and amortization 82 133 18 — 233 General and administrative — — — 8 8 Acquisition-related transaction and integration costs — — — 4 4 Operating income (loss) 180 100 38 (12 ) 306 Equity in earnings of unconsolidated affiliates 14 8 — — 22 Other income, net — 5 — 1 6 Loss on debt extinguishment — (1 ) — — (1 ) Interest expense (53 ) (126 ) (7 ) (25 ) (211 ) Net Income (Loss) $ 141 $ (14 ) $ 31 $ (36 ) $ 122 |
Commitments and Contingencies47
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum lease commitments under operating leases for the years ending after December 31, 2016 , are as follows: Period (In millions) 2017 $ 9 2018 9 2019 10 2020 9 2021 9 Thereafter 152 Total $ 198 |
Long-term Purchase Commitment | As of December 31, 2016 , the Company's commitments under such outstanding agreements are estimated as follows: Period (In millions) 2017 $ 13 2018 5 2019 2 2020 3 2021 3 Thereafter 19 Total $ 45 |
Unaudited Quarterly Financial48
Unaudited Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | Summarized unaudited quarterly financial data is as follows: Quarter Ended December 31, September 30, June 30, March 31, 2016 (In millions) Operating Revenues $ 232 $ 272 $ 283 $ 234 Operating (Loss) Income (99 ) 118 128 73 Net (Loss) Income (a) (139 ) 67 81 6 Net (Loss) Income (b) (149 ) 64 79 4 Change 10 $ 3 $ 2 $ 2 (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. (b) As previously reported. Quarter Ended December 31, September 30, June 30, March 31, 2015 (In millions) Operating Revenues $ 224 $ 256 $ 259 $ 214 Operating Income 71 102 99 50 Net Income (Loss) (a) 20 47 50 (24 ) Net Income (Loss) (b) 20 44 48 (24 ) Change $ — $ 3 $ 2 $ — |
Condensed Consolidating Finan49
Condensed Consolidating Financial Information CP Income Statement Condensed Income Statement (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases [Abstract] | |||
Condensed Income Statement | NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan50
Condensed Consolidating Financial Information CP Comprehensive Income Condensed Consolidating CP Comprehensive Income (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Statement of Comprehensive Income | For the Year Ended December 31, 2016 NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. | NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan51
Condensed Consolidating Financial Information CP Balance Sheet Condensed Consolidating CP Balance Sheet (Tables) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Financial Information [Abstract] | ||
Condensed Balance Sheet | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan52
Condensed Consolidating Financial Information CP Cash Flows Condensed Consolidating CP Cash Flows (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Cash Flow Statement | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan53
Condensed Consolidating Financial Information PP Income Statement Condensed Consolidating PP Income Statement (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Income Statement | NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan54
Condensed Consolidating Financial Information PP Comprehensive Income Condensed Consolidating PP Comprehensive Income (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Statement of Comprehensive Income | For the Year Ended December 31, 2016 NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. | NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan55
Condensed Consolidating Financial Information PP Balance Sheet Condensed Consolidating PP Balance Sheet (Tables) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Financial Information [Abstract] | ||
Condensed Balance Sheet | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 211 $ — $ 110 $ — $ — $ 321 Restricted cash — — 165 — — 165 Accounts receivable — trade — 2 90 — — 92 Accounts receivable — affiliates — — 1 — — 1 Inventory — 2 37 — — 39 Derivative instruments — — 2 — — 2 Notes receivable — current — — 16 — — 16 Prepayments and other current assets — — 19 1 — 20 Total current assets 211 4 440 1 — 656 Property, plant and equipment, net — 59 5,401 — — 5,460 Other Assets Investment in consolidated subsidiaries 1,780 527 — 3,212 (5,519 ) — Equity investments in affiliates — 171 600 381 — 1,152 Notes receivable — non-current — — 14 — — 14 Intangible assets, net — 56 1,230 — — 1,286 Derivative instruments — — 1 — — 1 Other non-current assets — — 50 1 — 51 Total other assets 1,780 754 1,895 3,594 (5,519 ) 2,504 Total Assets $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC Eliminations (b) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 291 $ — $ — $ 291 Accounts payable — trade — 2 18 3 — 23 Accounts payable — affiliate — 7 15 18 — 40 Derivative instruments — — 32 — — 32 Accrued expenses and other current liabilities — 1 60 24 — 85 Total current liabilities — 10 416 45 — 471 Other Liabilities Long-term debt — external — — 4,259 839 — 5,098 Long-term debt — affiliate — — — 618 — 618 Accounts payable — affiliate — — 9 — — 9 Derivative instruments — — 44 — — 44 Other non-current liabilities — — 76 — — 76 Total non-current liabilities — — 4,388 1,457 — 5,845 Total Liabilities — 10 4,804 1,502 — 6,316 Commitments and Contingencies Members' Equity Contributed capital 1,995 874 2,920 1,971 (5,765 ) 1,995 Retained earnings (accumulated deficit) 79 (65 ) 35 (108 ) 138 79 Accumulated other comprehensive loss (83 ) (2 ) (87 ) (83 ) 172 (83 ) Noncontrolling interest — — 64 313 (64 ) 313 Total Members' Equity 1,991 807 2,932 2,093 (5,519 ) 2,304 Total Liabilities and Members’ Equity $ 1,991 $ 817 $ 7,736 $ 3,595 $ (5,519 ) $ 8,620 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 NRG Yield LLC (a)(c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b)(c) Consolidated ASSETS (In millions) Current Assets Cash and cash equivalents $ 15 $ — $ 95 $ — $ — $ 110 Restricted cash — — 131 — — 131 Accounts receivable — trade — 1 100 — — 101 Accounts receivable — affiliates 55 4 6 10 (71 ) 4 Inventory — 2 34 — — 36 Notes receivable — current — — 17 3 (3 ) 17 Prepayments and other current assets — 1 19 — — 20 Total current assets 70 8 402 13 (74 ) 419 Property, plant and equipment, net — 61 5,817 — — 5,878 Other Assets Investment in consolidated subsidiaries 2,110 548 — 3,635 (6,293 ) — Equity investments in affiliates — 128 276 393 — 797 Notes receivable — non-current — — 30 — — 30 Intangible assets, net — 57 1,305 — — 1,362 Other non-current assets — — 134 2 — 136 Total other assets 2,110 733 1,745 4,030 (6,293 ) 2,325 Total Assets $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (c) Eliminations (b) (c) Consolidated LIABILITIES AND MEMBERS' EQUITY (In millions) Current Liabilities Current portion of long-term debt — external $ — $ — $ 267 $ — $ (3 ) $ 264 Accounts payable — trade — 1 19 3 — 23 Accounts payable — affiliate — 8 46 104 (72 ) 86 Derivative instruments — 1 38 — — 39 Accrued expenses and other current liabilities — 1 58 17 — 76 Total current liabilities — 11 428 124 (75 ) 488 Other Liabilities Long-term debt — external — — 3,943 800 — 4,743 Long-term debt — affiliate — — — 618 — 618 Derivative instruments — — 61 — — 61 Other non-current liabilities — — 72 — — 72 Total non-current liabilities — — 4,076 1,418 — 5,494 Total Liabilities — 11 4,504 1,542 (75 ) 5,982 Commitments and Contingencies Members' Equity Contributed capital 2,176 879 3,491 2,108 (6,478 ) 2,176 Retained earnings (accumulated deficit) 100 (85 ) (5 ) 100 (10 ) 100 Accumulated other comprehensive loss (96 ) (3 ) (97 ) (96 ) 196 (96 ) Noncontrolling interest — — 71 389 — 460 Total Members' Equity 2,180 791 3,460 2,501 (6,292 ) 2,640 Total Liabilities and Members’ Equity $ 2,180 $ 802 $ 7,964 $ 4,043 $ (6,367 ) $ 8,622 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan56
Condensed Consolidating Financial Information PP Cash Flows Condensed Consolidating PP Cash Flows (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Information [Abstract] | |||
Condensed Cash Flow Statement | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan57
Condensed Consolidating Financial Information PP2 Income Statement (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||
Condensed Income Statement | NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 22 $ 999 $ 1 $ (1 ) $ 1,021 Operating Costs and Expenses — Cost of operations — 14 292 1 (1 ) 306 Depreciation and amortization — 5 292 — — 297 Impairment losses — — 183 — — 183 General and administrative 2 — — 12 — 14 Acquisition-related transaction and integration costs — — — 1 — 1 Total operating costs and expenses 2 19 767 14 (1 ) 801 Operating (Loss) Income (2 ) 3 232 (13 ) — 220 Other Income (Expense) Equity in earnings of consolidated affiliates 159 10 — 66 (235 ) — Equity in earnings (losses) of unconsolidated affiliates — 9 21 30 — 60 Other income, net — — 3 — — 3 Interest expense — — (202 ) (66 ) — (268 ) Total other income (expense), net 159 19 (178 ) 30 (235 ) (205 ) Net Income (Loss) 157 22 54 17 (235 ) 15 Less: Net loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Net Income Attributable to NRG Yield LLC $ 157 $ 22 $ 55 $ 159 $ (236 ) $ 157 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2015 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 21 $ 922 $ 10 $ — $ 953 Operating Costs and Expenses Cost of operations — 14 307 — — 321 Depreciation and amortization — 4 293 — — 297 General and administrative — — — 10 — 10 Acquisition-related transaction and integration costs — — — 3 — 3 Total operating costs and expenses — 18 600 13 — 631 Operating Income (Loss) — 3 322 (3 ) — 322 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 144 (43 ) — 123 (224 ) — Equity in (losses) earnings of unconsolidated affiliates — (2 ) 8 25 — 31 Loss on debt extinguishment — — (9 ) — — (9 ) Other income, net — — 3 — — 3 Interest expense — — (202 ) (52 ) — (254 ) Total other income (expense) 144 (45 ) (200 ) 96 (224 ) (229 ) Net Income (Loss) 144 (42 ) 122 93 (224 ) 93 Less: Net loss attributable to noncontrolling interests — — (2 ) (51 ) 2 (51 ) Net Income (Loss) Attributable to NRG Yield LLC $ 144 $ (42 ) $ 124 $ 144 $ (226 ) $ 144 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Operating Revenues Total operating revenues $ — $ 24 $ 804 $ — $ — $ 828 Operating Costs and Expenses Cost of operations — 16 261 — — 277 Depreciation and amortization — 4 229 — — 233 General and administrative — — — 8 — 8 Acquisition-related transaction and integration costs — — — 4 — 4 Total operating costs and expenses — 20 490 12 — 522 Operating Income (Loss) — 4 314 (12 ) — 306 Other Income (Expense) Equity in earnings (losses) of consolidated affiliates 118 (22 ) — 139 (235 ) — Equity in (losses) earnings of unconsolidated affiliates — — 3 19 — 22 Other income, net 1 — 5 — — 6 Loss on debt extinguishment — — (1 ) — — (1 ) Interest expense — — (186 ) (25 ) — (211 ) Total other income (expense), net 119 (22 ) (179 ) 133 (235 ) (184 ) Net Income (Loss) 119 (18 ) 135 121 (235 ) 122 Less: Net income attributable to noncontrolling interests — — — 3 — 3 Net Income (Loss) Attributable to NRG Yield LLC $ 119 $ (18 ) $ 135 $ 118 $ (235 ) $ 119 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan58
Condensed Consolidating Financial Information PP2 Comprehensive Income (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Condensed Statement of Comprehensive Income | For the Year Ended December 31, 2016 NRG Yield LLC (a) Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Eliminations (b) Consolidated (In millions) Net Income $ 157 $ 22 $ 54 $ 17 $ (235 ) $ 15 Other Comprehensive Income Unrealized gain on derivatives 13 1 10 13 (24 ) 13 Other comprehensive income 13 1 10 13 (24 ) 13 Comprehensive Income 170 23 64 30 (259 ) 28 Less: Comprehensive loss attributable to noncontrolling interests — — (1 ) (142 ) 1 (142 ) Comprehensive Income Attributable to NRG Yield LLC $ 170 $ 23 $ 65 $ 172 $ (260 ) $ 170 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. | NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 144 $ (42 ) $ 122 $ 93 $ (224 ) $ 93 Other Comprehensive Income Unrealized loss on derivatives (16 ) — (18 ) (17 ) 34 (17 ) Other comprehensive loss (16 ) — (18 ) (17 ) 34 (17 ) Comprehensive Income (Loss) 128 (42 ) 104 76 (190 ) 76 Less: Comprehensive loss attributable to noncontrolling interests — — (2 ) (52 ) 2 (52 ) Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 128 $ (42 ) $ 106 $ 128 $ (192 ) $ 128 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 NRG Yield LLC (a) (c) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (c) NRG Yield Operating LLC (Note Issuer) (c) Eliminations (b) (c) Consolidated (In millions) Net Income (Loss) $ 119 $ (18 ) $ 135 $ 121 $ (235 ) $ 122 Other Comprehensive Income (Loss) Unrealized loss on derivatives (63 ) — (63 ) (65 ) 126 (65 ) Other comprehensive loss (63 ) — (63 ) (65 ) 126 (65 ) Comprehensive Income (Loss) 56 (18 ) 72 56 (109 ) 57 Less: Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Comprehensive Income (Loss) Attributable to NRG Yield LLC $ 56 $ (18 ) $ 72 $ 55 $ (109 ) $ 56 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) All significant intercompany transactions have been eliminated in consolidation. (c) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Condensed Consolidating Finan59
Condensed Consolidating Financial Information PP2 Cash Flows (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Cash Flows [Abstract] | |||
Condensed Cash Flow Statement | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016 NRG Yield LLC (a) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries NRG Yield Operating LLC (Note Issuer) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 62 $ 546 $ (39 ) $ 569 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries 325 — (21 ) (304 ) — Acquisition of Drop Down Assets, net of cash acquired — — — (77 ) (77 ) Capital expenditures — — (20 ) — (20 ) Increase in restricted cash — — (34 ) — (34 ) Cash receipts from notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — 16 — 12 28 Net investments in unconsolidated affiliates — (80 ) (3 ) — (83 ) Other — — 4 — 4 Net Cash Provided by (Used in) Investing Activities 325 (64 ) (57 ) (369 ) (165 ) Cash Flows from Financing Activities Contributions from tax equity investors, net of distributions — — — 5 5 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (170 ) — (170 ) Transfer of funds under intercompany cash management arrangement 54 2 — (56 ) — (Payments of) proceeds from distributions (183 ) — (420 ) 420 (183 ) Proceeds from the revolving credit facility — — — 60 60 Payments for the revolving credit facility — — — (366 ) (366 ) Proceeds from issuance of long-term debt — — 390 350 740 Payment of debt issuance costs — — (10 ) (5 ) (15 ) Payments for long-term debt — — (264 ) — (264 ) Net Cash (Used in) Provided by Financing Activities (129 ) 2 (474 ) 408 (193 ) Net Increase in Cash and Cash Equivalents 196 — 15 — 211 Cash and Cash Equivalents at Beginning of Period 15 — 95 — 110 Cash and Cash Equivalents at End of Period $ 211 $ — $ 110 $ — $ 321 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 19 $ 420 $ (18 ) $ 421 Cash Flows from Investing Activities Acquisition of businesses, net of cash acquired — — — (37 ) (37 ) Changes in investments in consolidated subsidiaries (464 ) — 285 179 — Acquisition of Drop Down Assets, net of cash acquired — — — (698 ) (698 ) Capital expenditures — — (29 ) — (29 ) (Increase) decrease in restricted cash — — (1 ) — (1 ) Decrease in notes receivable — — 17 — 17 Return of investment from unconsolidated affiliates — — — 42 42 Investments in unconsolidated affiliates — (28 ) — (374 ) (402 ) Net Cash Used in Investing Activities (464 ) (28 ) 272 (888 ) (1,108 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement (309 ) 9 — 300 — Net contributions from noncontrolling interests — — — 122 122 Distributions to NRG for NRG Wind TE Holdco and CVSR — — (76 ) — (76 ) Proceeds from the issuance of Class C and Class A units 599 — — — 599 (Payments of) proceeds from distributions (139 ) — (392 ) 392 (139 ) Proceeds from the revolving credit facility — — — 551 551 Payments for the revolving credit facility — — — (245 ) (245 ) Proceeds from the issuance of long-term debt - external — — 6 — 6 Proceeds from issuance of long-term debt affiliate — — — 281 281 Payment of debt issuance costs — — (6 ) (1 ) (7 ) Payments for long-term debt — — (230 ) (494 ) (724 ) Net Cash Provided by (Used in) Financing Activities 151 9 (698 ) 906 368 Net Increase (Decrease) in Cash and Cash Equivalents (313 ) — (6 ) — (319 ) Cash and Cash Equivalents at Beginning of Period 328 — 101 — 429 Cash and Cash Equivalents at End of Period $ 15 $ — $ 95 $ — $ 110 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . | NRG YIELD LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 NRG Yield LLC (a) (b) Other Guarantor Subsidiaries Non-Guarantor Subsidiaries (b) NRG Yield Operating LLC (Note Issuer) (b) Consolidated (In millions) Net Cash Provided by (Used in) Operating Activities $ — $ 12 $ 357 $ (7 ) $ 362 Cash Flows from Investing Activities Changes in investments in consolidated subsidiaries (530 ) — 36 494 — Acquisition of businesses, net of cash acquired — — — (901 ) (901 ) Acquisition of Drop Down Assets, net of cash acquired — — 46 (357 ) (311 ) Capital expenditures — — (60 ) — (60 ) Receipt of indemnity from supplier — — 57 — 57 Decrease in restricted cash, net — — 25 — 25 Decrease in notes receivable — — 12 2 14 Proceeds from renewable energy grants — — 422 — 422 Return of investment from unconsolidated affiliates — — — 4 4 Investments in unconsolidated affiliates — — (2 ) — (2 ) Other — — 11 — 11 Net Cash (Used in) Provided by Investing Activities (530 ) — 547 (758 ) (741 ) Cash Flows from Financing Activities Transfer of funds under intercompany cash management arrangement 326 (12 ) — (314 ) — Contributions from tax equity investors — — 190 — 190 Capital contributions from NRG — — 2 — 2 Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets — — (333 ) — (333 ) Proceeds from issuance of common stock 630 — — — 630 (Payments of) proceeds from distributions (101 ) — (232 ) 232 (101 ) Net borrowings from the revolving credit facility — — — 500 500 Proceeds from issuance of long-term debt — external — — 178 — 178 Proceeds from issuance of long-term debt — affiliate — — — 337 337 Payments of long-term debt — external — — (626 ) — (626 ) Payment of debt issuance costs — — (18 ) (10 ) (28 ) Net Cash Provided by (Used in) Financing Activities 855 (12 ) (839 ) 745 749 Net Increase (Decrease) in Cash and Cash Equivalents 325 — 65 (20 ) 370 Cash and Cash Equivalents at Beginning of Period 3 — 36 20 59 Cash and Cash Equivalents at End of Period $ 328 $ — $ 101 $ — $ 429 (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. (b) Retrospectively adjusted as discussed in Note 1, Nature of Business . |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Asset Retirement Obligation [Abstract] | |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | The following table represents the balance of ARO obligations as of December 31, 2016 and 2015 , along with the additions and accretion related to the Company's ARO obligations for the year ended December 31, 2016 : (In millions) Balance as of December 31, 2015 $ 43 Revisions in estimates for current obligations 2 Accretion — expense 3 Balance as of December 31, 2016 $ 48 |
Nature of Business (Details)
Nature of Business (Details) $ in Millions | Mar. 27, 2017USD ($) | Dec. 31, 2016USD ($)MW | Sep. 01, 2016USD ($) | Aug. 31, 2016 | Jun. 30, 2015 | |
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 4,997 | ||||
Megawatts Thermal Equivalent, Available Under right-to-use Provisions | 134 | |||||
Power Generation Capacity, Megawatts, including portion attributable to noncontrolling interest | 5,003 | |||||
Pro-Rate Share of Debt Held by Unconsolidated Affiliates | $ | $ 589 | |||||
Conventional Generation [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 1,945 | ||||
Utility-Scale Solar | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | 921 | |||||
Distributed Solar | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 9 | ||||
Wind Farms [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 1,999 | ||||
Thermal [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 1,442 | ||||
Steam and Chilled Water Capacity, Megawatts Thermal Equivalent | [1],[2] | 1,319 | ||||
Spring Canyon [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts attributed to noncontrolling interest | 6 | |||||
Thermal [Member] | Thermal [Member] | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 20 | ||||
NRG Yield LLC | NRG Yield, Inc. [Member] | ||||||
Nature of Business | ||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 44.90% | |||||
NRG Yield LLC | NRG | ||||||
Nature of Business | ||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 55.10% | |||||
GenConn Middletown [Member] | 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 | 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% | 49.95% | ||||
Power Generation Capacity, Megawatts | [1] | 23 | ||||
Avra Valley [Member] | 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 | ||||
NRG Solar Roadrunner LLC [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 20 | ||||
CVSR [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 250 | ||||
RE Kansas South [Member] | 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 Solar Portfolio [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 50.00% | |||||
Power Generation Capacity, Megawatts | 265 | |||||
Desert Sunlight [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 25.00% | |||||
AZ DG Solar Projects | Distributed Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 5 | ||||
PFMG DG Solar Projects | Distributed Solar | ||||||
Nature of Business | ||||||
Percentage of Ownership | 51.00% | |||||
Power Generation Capacity, Megawatts | [1] | 4 | ||||
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 | 100.00% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 137 | ||||
Alta XI [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 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 | 75.00% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 14 | ||||
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 | 75.00% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 29 | ||||
Odin Wind Farm [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 74.90% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 15 | ||||
Taloga [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 130 | ||||
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 | 56.30% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 68 | ||||
Sleeping Bear [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 75.00% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 71 | ||||
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 | 74.30% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 16 | ||||
Forward [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 75.00% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 22 | ||||
Goat Wind [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 74.90% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 113 | ||||
Elbow Creek [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 75.00% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 92 | ||||
Elkhorn Ridge Wind, LLC [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 50.30% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 41 | ||||
Hardin [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 74.30% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 11 | ||||
Spring Canyon II [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 90.10% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 29 | ||||
Spring Canyon III [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 90.10% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 25 | ||||
Wildorado [Member] | Wind Farms [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 74.90% | |||||
Power Generation Capacity, Megawatts | [1],[3] | 121 | ||||
NRG Energy Center Dover [Member] | Thermal [Member] | ||||||
Nature of Business | ||||||
Percentage of Ownership | 100.00% | |||||
Power Generation Capacity, Megawatts | [1] | 103 | ||||
CVSR [Member] | ||||||
Nature of Business | ||||||
Equity Method Investment, Ownership Percentage | 48.95% | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | $ | $ 496 | |||||
Pacific Gas and Electric [Member] | Desert Sunlight [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 75 | ||||
Southern California Edison [Member] | Desert Sunlight [Member] | Utility-Scale Solar | ||||||
Nature of Business | ||||||
Power Generation Capacity, Megawatts | [1] | 63 | ||||
Common Class B [Member] | NRG Yield LLC | ||||||
Nature of Business | ||||||
Sale of Stock, Percentage of Ownership after Transaction | 100.00% | |||||
Common Class A [Member] | NRG Yield LLC | ||||||
Nature of Business | ||||||
Sale of Stock, Percentage of Ownership after Transaction | 100.00% | |||||
Agua Caliente Borrower 2 [Member] | ||||||
Nature of Business | ||||||
Equity Method Investment, Ownership Percentage | 16.00% | |||||
Subsequent Event [Member] | Agua Caliente [Member] | ||||||
Nature of Business | ||||||
Equity Method Investment, Ownership Percentage | 16.00% | |||||
Subsequent Event [Member] | March 2017 Drop Down Assets [Member] | ||||||
Nature of Business | ||||||
Business Combination, Consideration Transferred | $ | $ 130 | |||||
Business Acquisition, Consideration Transferred, Working Capital | $ | 1 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | $ | 328 | |||||
Subsequent Event [Member] | Agua Caliente Borrower 2 [Member] | ||||||
Nature of Business | ||||||
Pro-Rate Share of Debt Held by Unconsolidated Affiliates | $ | $ 135 | |||||
[1] | (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 December 31, 2016. | |||||
[2] | (c) 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. | |||||
[3] | b) Projects are part of tax equity arrangements. |
Summary of Significant Accoun62
Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Summary of Significant Accounting Policies [Line Items] | |||
Operating Leases, Income Statement, Contingent Revenue | $ 553 | $ 416 | $ 296 |
Long-Term Debt, Current [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Restricted Cash and Cash Equivalents | 25 | ||
Operating Expense [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Restricted Cash and Cash Equivalents | 13 | ||
Cash Distribution [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Restricted Cash and Cash Equivalents | 37 | ||
Reserves [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Restricted Cash and Cash Equivalents | 90 | ||
Project Level Subsidiaries [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Other Cash Equivalents, at Carrying Value | $ 110 | $ 93 |
Summary of Significant Accoun63
Summary of Significant Accounting Policies ARO (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Asset Retirement Obligation Disclosure [Abstract] | |
Balance as of December 31, 2015 | $ 43 |
Revisions in estimates for current obligations | 2 |
Accretion — expense | 3 |
Balance as of December 31, 2016 | $ 48 |
Business Acquisitions Business
Business Acquisitions Business Acquisitions - CVSR (Details) - USD ($) $ in Millions | Mar. 27, 2017 | Sep. 02, 2016 | Sep. 30, 2016 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [3] | Mar. 31, 2016 | [3] | Dec. 31, 2015 | Sep. 30, 2015 | [4] | Jun. 30, 2015 | [4] | Mar. 31, 2015 | [4] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Sep. 01, 2016 | Aug. 31, 2016 | ||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Long-term Debt | $ 6,069 | $ 5,678 | $ 6,069 | $ 5,678 | |||||||||||||||||||||||
Current Assets | [1] | 656 | 419 | 656 | 419 | ||||||||||||||||||||||
Property, Plant and Equipment, Net | [1] | 5,460 | 5,878 | 5,460 | 5,878 | ||||||||||||||||||||||
Other Assets | [1] | 2,504 | 2,325 | 2,504 | 2,325 | ||||||||||||||||||||||
Total Assets | [1] | 8,620 | 8,622 | 8,620 | 8,622 | ||||||||||||||||||||||
Long-term Debt and Capital Lease Obligations, Including Current Maturities | 6,007 | 5,678 | 6,007 | 5,678 | |||||||||||||||||||||||
Other Liabilities | 309 | 304 | 309 | 304 | |||||||||||||||||||||||
Liabilities | [1] | 6,316 | 5,982 | 6,316 | 5,982 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | [1] | (83) | (96) | (83) | (96) | ||||||||||||||||||||||
Debt Issuance Costs, Net | 62 | 53 | 62 | 53 | |||||||||||||||||||||||
Business Combination, Acquisition Related Costs | [2] | 1 | 3 | $ 4 | |||||||||||||||||||||||
Members' Equity | [1] | 2,304 | 2,640 | 2,304 | 2,640 | ||||||||||||||||||||||
Revenues | 232 | $ 272 | $ 283 | $ 234 | 224 | [4] | $ 256 | $ 259 | $ 214 | 1,021 | [2] | 953 | [2] | 828 | [2] | ||||||||||||
Operating Income (Loss) | (99) | 118 | 128 | 73 | 71 | [4] | 102 | 99 | 50 | 220 | [2] | 322 | [2] | 306 | [2] | ||||||||||||
Net Income | (139) | 67 | 81 | 6 | 20 | [4] | 47 | 50 | (24) | 15 | [2],[5] | 93 | [2],[5],[6] | 122 | [2],[5],[6] | ||||||||||||
March 2017 Drop Down Assets [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Current Assets | 11 | 0 | 11 | 0 | |||||||||||||||||||||||
Property, Plant and Equipment, Net | 0 | 0 | 0 | 0 | |||||||||||||||||||||||
Other Assets | 442 | 100 | 442 | 100 | |||||||||||||||||||||||
Total Assets | 453 | 100 | 453 | 100 | |||||||||||||||||||||||
Long-term Debt and Capital Lease Obligations, Including Current Maturities | 279 | 0 | 279 | 0 | |||||||||||||||||||||||
Other Liabilities | 5 | 0 | 5 | 0 | |||||||||||||||||||||||
Liabilities | 284 | 0 | 284 | 0 | |||||||||||||||||||||||
Members' Equity | 169 | 100 | 169 | 100 | |||||||||||||||||||||||
Revenues | 0 | [2] | 0 | 0 | |||||||||||||||||||||||
Operating Income (Loss) | 0 | [2] | 0 | 0 | |||||||||||||||||||||||
Net Income | 17 | [2] | 5 | 5 | |||||||||||||||||||||||
CVSR [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 48.95% | ||||||||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.05% | ||||||||||||||||||||||||||
Payments to Acquire Businesses, Gross | $ 78.5 | ||||||||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | $ 496 | ||||||||||||||||||||||||||
Business Combination, Indemnification Assets, Amount as of Acquisition Date | 67 | ||||||||||||||||||||||||||
Current Assets | 98 | 98 | 95 | ||||||||||||||||||||||||
Property, Plant and Equipment, Net | 822 | 822 | 826 | ||||||||||||||||||||||||
Other Assets | (6) | (6) | |||||||||||||||||||||||||
Assets, Noncurrent | 13 | ||||||||||||||||||||||||||
Total Assets | 914 | 914 | 934 | ||||||||||||||||||||||||
Long-term Debt and Capital Lease Obligations, Including Current Maturities | 843 | 843 | 966 | [7] | |||||||||||||||||||||||
Other Liabilities | 35 | 35 | 12 | ||||||||||||||||||||||||
Liabilities | 808 | 808 | 978 | ||||||||||||||||||||||||
Net Assets | 44 | ||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (25) | ||||||||||||||||||||||||||
Net Assets, excluding Accumulated Other Comprehensive Income (Loss) | (19) | ||||||||||||||||||||||||||
Debt Issuance Costs, Net | 5 | ||||||||||||||||||||||||||
Business Combination, Acquisition Related Costs | 1 | ||||||||||||||||||||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 22 | ||||||||||||||||||||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 2 | ||||||||||||||||||||||||||
Members' Equity | 106 | 106 | |||||||||||||||||||||||||
Revenues | 84 | 82 | |||||||||||||||||||||||||
Operating Income (Loss) | 43 | 40 | |||||||||||||||||||||||||
Net Income | 10 | 9 | |||||||||||||||||||||||||
Scenario, Previously Reported [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Current Assets | 645 | 321 | 645 | 321 | |||||||||||||||||||||||
Property, Plant and Equipment, Net | 5,460 | 5,056 | 5,460 | 5,056 | |||||||||||||||||||||||
Other Assets | 2,062 | 2,231 | 2,062 | 2,231 | |||||||||||||||||||||||
Total Assets | 8,167 | 7,608 | 8,167 | 7,608 | |||||||||||||||||||||||
Long-term Debt and Capital Lease Obligations, Including Current Maturities | 5,728 | 4,835 | 5,728 | 4,835 | |||||||||||||||||||||||
Other Liabilities | 304 | 339 | 304 | 339 | |||||||||||||||||||||||
Liabilities | 6,032 | 5,174 | 6,032 | 5,174 | |||||||||||||||||||||||
Members' Equity | 2,135 | 2,434 | 2,135 | 2,434 | |||||||||||||||||||||||
Revenues | 1,021 | [2] | 869 | 746 | |||||||||||||||||||||||
Operating Income (Loss) | 220 | [2] | 279 | 266 | |||||||||||||||||||||||
Net Income | $ (149) | $ 64 | $ 79 | $ 4 | 20 | [4] | $ 44 | $ 48 | $ (24) | $ (2) | [2] | 78 | 108 | ||||||||||||||
CVSR [Member] | Utility-Scale Solar [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Percentage of Ownership | 100.00% | 100.00% | |||||||||||||||||||||||||
CVSR Financing Agreement [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Long-term Debt | $ 771 | 793 | $ 771 | 793 | |||||||||||||||||||||||
CVSR Financing Agreement [Member] | CVSR [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Long-term Debt | 771 | ||||||||||||||||||||||||||
CVSR Holdco due 2037 [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Long-term Debt | $ 199 | 0 | $ 199 | 0 | |||||||||||||||||||||||
CVSR Holdco due 2037 [Member] | CVSR [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Long-term Debt | $ 200 | ||||||||||||||||||||||||||
Agua Caliente Borrower 2 [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 16.00% | 16.00% | |||||||||||||||||||||||||
Utah Solar Portfolio [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Current Assets | $ 20 | 11 | $ 20 | 11 | |||||||||||||||||||||||
Assets, Noncurrent | $ 1,105 | $ 705 | 1,105 | 705 | |||||||||||||||||||||||
Revenues | 13 | 0 | 0 | ||||||||||||||||||||||||
Operating Income (Loss) | (6) | (1) | 0 | ||||||||||||||||||||||||
Net Income | $ (6) | $ (1) | $ 0 | ||||||||||||||||||||||||
Utah Solar Portfolio [Member] | Utility-Scale Solar [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | [8] | 50.00% | 50.00% | ||||||||||||||||||||||||
Subsequent Event [Member] | March 2017 Drop Down Assets [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Payments to Acquire Businesses, Gross | $ 130 | ||||||||||||||||||||||||||
Business Combination, Working Capital Adjustments | $ 1 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Agua Caliente [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 16.00% | ||||||||||||||||||||||||||
Subsequent Event [Member] | Agua Caliente Borrower 2 [Member] | March 2017 Drop Down Assets [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 31.00% | ||||||||||||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 41 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Utah Solar Portfolio [Member] | March 2017 Drop Down Assets [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 51.00% | ||||||||||||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 287 | ||||||||||||||||||||||||||
Subsequent Event [Member] | March 2017 Drop Down Assets [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 328 | ||||||||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 8 | ||||||||||||||||||||||||||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||||||||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||||||||
[3] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||||||||
[4] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||||||||
[5] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||||||||
[6] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | ||||||||||||||||||||||||||
[7] | Net of deferred financing costs of $5 million. | ||||||||||||||||||||||||||
[8] | Economic interest based on cash to be distributed. Four Brothers Solar, LLC, Granite Mount Holdings, LLC and Iron Spring Holdings, LLC are tax equity structures and VIEs. The related allocations are described below. |
Business Acquisitions - Novembe
Business Acquisitions - November 2015 Drop Down (Details) | Feb. 19, 2016USD ($) | Nov. 03, 2015USD ($) | Dec. 31, 2016MW | Nov. 02, 2015USD ($)MW | |
Business Acquisition [Line Items] | |||||
Power Generation Capacity, Megawatts | MW | [1] | 4,997 | |||
November 2015 Drop Down Assets [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | $ 30,000,000 | ||||
Payments to Acquire Businesses, Gross | $ 207,000,000 | 209,000,000 | |||
Business Acquisition, Consideration Transferred, Working Capital | $ 2,000,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 669,000,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets | 177,000,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 876,000,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 193,000,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Current and Non-Current Liabilities | 32,000,000 | ||||
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | 282,000,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 225,000,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 369,000,000 | ||||
Number of Facilities | 12 | ||||
Financial Institutions [Member] | November 2015 Drop Down Assets [Member] | |||||
Business Acquisition [Line Items] | |||||
Taxable Income Allocation, Pre-Flip | 99.00% | ||||
Taxable Income Allocation, Post-Flip | 8.53% | ||||
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | $ 159,000,000 | ||||
Pre-Flip Point [Member] | November 2015 Drop Down Assets [Member] | |||||
Business Acquisition [Line Items] | |||||
Percentage of Cash Available for Distributions | 75.00% | ||||
Post-Flip Point [Member] | November 2015 Drop Down Assets [Member] | |||||
Business Acquisition [Line Items] | |||||
Percentage of Cash Available for Distributions | 68.60% | ||||
Pre-determined Date Through Flip Point If Flip Has Not Occured [Member] | Financial Institutions [Member] | November 2015 Drop Down Assets [Member] | |||||
Business Acquisition [Line Items] | |||||
Percentage of Cash Available for Distributions | 100.00% | ||||
Wind Farms [Member] | |||||
Business Acquisition [Line Items] | |||||
Power Generation Capacity, Megawatts | MW | [1] | 1,999 | |||
Wind Farms [Member] | November 2015 Drop Down Assets [Member] | |||||
Business Acquisition [Line Items] | |||||
Power Generation Capacity, Megawatts | MW | 814 | ||||
[1] | (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 December 31, 2016. |
Business Acquisitions - Desert
Business Acquisitions - Desert Sunlight/Spring Canyon/Fuel Cell (Details) | Jun. 30, 2015 | Jun. 29, 2015USD ($) | May 08, 2015 | Apr. 30, 2015 | Dec. 31, 2016MW | May 07, 2015 | |
Business Acquisition [Line Items] | |||||||
Power Generation Capacity, Megawatts | [1] | 4,997 | |||||
Utility-Scale Solar [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Power Generation Capacity, Megawatts | 921 | ||||||
Wind Farms [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Power Generation Capacity, Megawatts | [1] | 1,999 | |||||
Wind Farms [Member] | Spring Canyon [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Percentage of Voting Interests Acquired | 90.10% | ||||||
Wind Farms [Member] | Spring Canyon II [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Power Generation Capacity, Megawatts | 32 | ||||||
Wind Farms [Member] | Spring Canyon III [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Power Generation Capacity, Megawatts | 28 | ||||||
Thermal [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Power Generation Capacity, Megawatts | [1] | 1,442 | |||||
Desert Sunlight [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of Facilities | $ | 2 | ||||||
Payments to Acquire Equity Method Investments | $ | $ 285,000,000 | ||||||
Power Generation Capacity, Megawatts | 550 | ||||||
Desert Sunlight [Member] | Utility-Scale Solar [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Equity Method Investment, Ownership Percentage | 25.00% | ||||||
UB Fuel Cell [Member] | Thermal [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Power Generation Capacity, Megawatts | 1.4 | ||||||
Supply Commitment [Member] | Spring Canyon [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 24 years | ||||||
Supply Commitment [Member] | UB Fuel Cell [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 12 years | ||||||
Pacific Gas and Electric [Member] | Supply Commitment [Member] | Desert Sunlight [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 25 years | ||||||
Southern California Edison [Member] | Supply Commitment [Member] | Desert Sunlight [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 20 years | ||||||
[1] | (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 December 31, 2016. |
Business Acquisitions - January
Business Acquisitions - January 2015 Drop Downs (Details) $ in Millions | Jan. 02, 2015USD ($) | Dec. 31, 2016MW | |
Business Acquisition [Line Items] | |||
Power Generation Capacity, Megawatts | [1] | 4,997 | |
January 2015 Drop Down Assets [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition of businesses, net of cash acquired | $ | $ (489) | ||
Business Acquisition, Consideration Transferred, Working Capital | $ | 9 | ||
Business Combination, Consideration Transferred, Liabilities Incurred | $ | 737 | ||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | $ | $ 61 | ||
Conventional Generation [Member] | |||
Business Acquisition [Line Items] | |||
Power Generation Capacity, Megawatts | [1] | 1,945 | |
Conventional Generation [Member] | Walnut Creek [Member] | |||
Business Acquisition [Line Items] | |||
Power Generation Capacity, Megawatts | [1] | 485 | |
Wind Farms [Member] | |||
Business Acquisition [Line Items] | |||
Power Generation Capacity, Megawatts | [1] | 1,999 | |
Wind Farms [Member] | Pinnacle [Member] | |||
Business Acquisition [Line Items] | |||
Power Generation Capacity, Megawatts | [1] | 55 | |
Wind Farms [Member] | Buffalo Bear [Member] | |||
Business Acquisition [Line Items] | |||
Power Generation Capacity, Megawatts | [1] | 19 | |
Wind Farms [Member] | Taloga [Member] | |||
Business Acquisition [Line Items] | |||
Power Generation Capacity, Megawatts | [1] | 130 | |
Wind Farms [Member] | Laredo Ridge [Member] | |||
Business Acquisition [Line Items] | |||
Power Generation Capacity, Megawatts | [1] | 80 | |
[1] | (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 December 31, 2016. |
Business Acquisitions - Alta Wi
Business Acquisitions - Alta Wind (Details) $ / shares in Units, $ in Millions | Aug. 12, 2014USD ($)MW | Aug. 05, 2014USD ($) | Jul. 29, 2014USD ($)shares | Dec. 31, 2014USD ($) | Dec. 31, 2016USD ($)MW | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jul. 30, 2014$ / shares | ||
Business Acquisition [Line Items] | ||||||||||
Power Generation Capacity, Megawatts | MW | [1] | 4,997 | ||||||||
Proceeds from the issuance of class A and class C units | [2] | $ 0 | $ 599 | $ 630 | ||||||
Acquisition-related transaction and integration costs | [3] | 1 | 3 | 4 | ||||||
Alta Wind Portfolio [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Number of Facilities | 7 | |||||||||
Payments to Acquire Businesses, Gross | $ 923 | |||||||||
Business Combination, Consideration Transferred | 870 | |||||||||
Business Acquisition, Consideration Transferred, Working Capital | 53 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 1,591 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 22 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current and Non-Current Assets | 49 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Cash | $ 0 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Other Assets | (2) | |||||||||
Business Acquisition, Purchase Price Allocation, Other Assets, Adjusted | 47 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 1,304 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment | 6 | |||||||||
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment, Adjusted | 1,310 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,177 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles | (6) | |||||||||
Business Acquisition, Purchase Price Allocation, Intangible Assets, Other than Goodwill, Adjusted | 1,171 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 2,552 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Total Assets | (2) | |||||||||
Business Acquisition, Purchase Price Allocation, Assets Acquired, Adjusted | 2,550 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Noncurrent Liabilities Longterm Debt | 0 | |||||||||
Business Acquisition, Purchase Price Allocation, Noncurrent Liabilities, Long-term Debt, Adjusted | 1,591 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current and Non-Current Liabilities | 38 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Current and Noncurrent Liabilities | (2) | |||||||||
Business Acquisition, Purchase Price Allocation, Current and Non-current Liabilities, Adjusted | 36 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 1,629 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities | (2) | |||||||||
Business Acquisition, Purchase Price Allocation, Liabilities Assumed, Adjusted | 1,627 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 923 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Net Assets Acquired | $ 0 | |||||||||
Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net Adjusted | $ 923 | |||||||||
Acquisition-related transaction and integration costs | 2 | |||||||||
Alta Wind Holdings [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Power Generation Capacity, Megawatts | MW | 947 | |||||||||
Public Shareholders [Member] | Common Class A [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Sale of Stock, Number of Shares Issued in Transaction | shares | 12,075,000 | |||||||||
Share Price | $ / shares | $ 54 | |||||||||
Proceeds from the issuance of class A and class C units | $ 630 | |||||||||
NRG Yield Operating LLC [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Proceeds from the issuance of class A and class C units | 0 | 0 | [4] | |||||||
Acquisition-related transaction and integration costs | $ 1 | $ 3 | $ 4 | |||||||
5.375% Senior Notes due in 2024 [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.375% | |||||||||
5.375% Senior Notes due in 2024 [Member] | NRG Yield Operating LLC [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Proceeds from Issuance of Senior Long-term Debt | $ 500 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.375% | |||||||||
[1] | (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 December 31, 2016. | |||||||||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||
[4] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Business Acquisitions - June 20
Business Acquisitions - June 2014 Drop Downs (Details) - June 2014 Drop Down Assets [Member] $ in Millions | Jun. 30, 2014USD ($) |
Business Acquisition [Line Items] | |
Business Combination, Consideration Transferred | $ 357 |
Business Acquisitions, Consideration Transferred, Purchase Price | 349 |
Business Acquisition, Consideration Transferred, Working Capital | 8 |
Business Combination, Consideration Transferred, Liabilities Incurred | $ 612 |
Property, Plant and Equipment70
Property, Plant and Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 6,411 | $ 6,660 | |
Under construction | 25 | 9 | |
Less accumulated depreciation | (951) | (782) | |
Property, Plant and Equipment, Net | [1] | 5,460 | 5,878 |
Prepaid Long Term Service Agreement | 20 | ||
Support Equipment and Facilities [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 6,215 | 6,480 | |
Land and improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 171 | $ 171 | |
Minimum [Member] | Support Equipment and Facilities [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 2 years | ||
Maximum [Member] | Support Equipment and Facilities [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 40 years | ||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Equity Method Investments and71
Equity Method Investments and VIEs Equity Method Investments and VIEs - Summary Table (Details) - USD ($) $ in Millions | Jun. 29, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Schedule of Equity Method Investments [Line Items] | |||||
Equity investments in affiliates | [1] | $ 1,152 | $ 797 | ||
Retained Earnings, Undistributed Earnings from Equity Method Investees | 51 | ||||
Utah Solar Portfolio [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity investments in affiliates | [2] | 346 | |||
Desert Sunlight [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Business Acquisition, Consideration Transferred, Working Capital | $ 171 | ||||
Equity investments in affiliates | $ 282 | ||||
Payments to Acquire Equity Method Investments | $ 285 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ 106 | ||||
GCE Holding LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investment, Ownership Percentage | [3] | 50.00% | |||
Equity investments in affiliates | [3] | $ 106 | |||
Retained Earnings, Undistributed Earnings from Equity Method Investees | $ 45 | ||||
Agua Caliente Borrower 2 [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 16.00% | ||||
Equity investments in affiliates | $ 96 | ||||
Elkhorn Ridge Wind, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 66.70% | ||||
Equity investments in affiliates | [4] | $ 85 | |||
Percentage of Ownership | [4] | 50.30% | |||
San Juan Mesa Wind Project, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 75.00% | ||||
Equity investments in affiliates | [4] | $ 74 | |||
Percentage of Ownership | [4] | 56.30% | |||
NRG DGPV Holdco 1 [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity investments in affiliates | [5] | $ 75 | |||
Percentage of Ownership | [5] | 95.00% | |||
NRG DGPV Holdco 2 [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity investments in affiliates | [5] | $ 24 | |||
Percentage of Ownership | [5] | 95.00% | |||
NRG RPV Holdco [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity investments in affiliates | [5] | $ 71 | |||
Percentage of Ownership | [5] | 95.00% | |||
Avenal [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||
Equity investments in affiliates | $ (7) | ||||
Utility-Scale Solar [Member] | Utah Solar Portfolio [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investment, Ownership Percentage | [2] | 50.00% | |||
Utility-Scale Solar [Member] | Desert Sunlight [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 25.00% | ||||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||
[2] | Economic interest based on cash to be distributed. Four Brothers Solar, LLC, Granite Mount Holdings, LLC and Iron Spring Holdings, LLC are tax equity structures and VIEs. The related allocations are described below. | ||||
[3] | GenConn is a variable interest entity. | ||||
[4] | San Juan Mesa and Elkhorn Ridge are part of the Wind TE Holdco tax equity structure, as described below. San Juan Mesa and Elkhorn Ridge are owned 75% and 66.7%, respectively, by Wind TE Holdco. The Company owns 75% of the Class B interests in Wind TE Holdco. | ||||
[5] | Economic interest based on cash to be distributed. NRG DGPV Holdco 1 LLC, NRG DGPV Holdco 2 LLC, and NRG RPV Holdco 1 LLC are tax equity structures and VIEs. The related allocations are described below. |
Equity Method Investments and72
Equity Method Investments and VIEs Equity Method Investments and VIEs - Entities that are not consolidated (Details) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||
Apr. 30, 2010 | Dec. 31, 2016USD ($)MW | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | [1] | Mar. 31, 2016USD ($) | [1] | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | [2] | Jun. 30, 2015USD ($) | [2] | Mar. 31, 2015USD ($) | [2] | Dec. 31, 2016USD ($)MW | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Mar. 27, 2017 | Sep. 22, 2010USD ($) | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Revenues | $ 232 | $ 272 | $ 283 | $ 234 | $ 224 | [2] | $ 256 | $ 259 | $ 214 | $ 1,021 | [3] | $ 953 | [3] | $ 828 | [3] | |||||||||
Pro-Rate Share of Debt Held by Unconsolidated Affiliates | $ 589 | $ 589 | ||||||||||||||||||||||
Power Generation Capacity, Megawatts | MW | [4] | 4,997 | 4,997 | |||||||||||||||||||||
Long-term Debt | $ 6,069 | 5,678 | $ 6,069 | 5,678 | ||||||||||||||||||||
Operating Income (Loss) | (99) | 118 | 128 | 73 | 71 | [2] | 102 | 99 | 50 | 220 | [3] | 322 | [3] | 306 | [3] | |||||||||
Net Income (Loss) | (139) | $ 67 | $ 81 | $ 6 | 20 | [2] | $ 47 | $ 50 | $ (24) | 15 | [3],[5] | 93 | [3],[5],[6] | 122 | [3],[5],[6] | |||||||||
Current Assets | [7] | 656 | 419 | 656 | 419 | |||||||||||||||||||
Current Liabilities | [7] | 471 | 488 | 471 | 488 | |||||||||||||||||||
Total non-current liabilities | [7] | $ 5,845 | 5,494 | $ 5,845 | 5,494 | |||||||||||||||||||
Avenal [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | ||||||||||||||||||||||
Power Generation Capacity, Megawatts | MW | 45 | 45 | ||||||||||||||||||||||
Power Purchase Agreement Period | 20 years | |||||||||||||||||||||||
Notes and Loans Payable | $ 35 | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | |||||||||||||||||||||||
Desert Sunlight [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Revenues | $ 211 | 206 | 134 | |||||||||||||||||||||
Power Generation Capacity, Megawatts | MW | 550 | 550 | ||||||||||||||||||||||
Long-term Debt | $ 1,100 | $ 1,100 | ||||||||||||||||||||||
Operating Income (Loss) | 129 | 124 | 74 | |||||||||||||||||||||
Net Income (Loss) | 80 | 73 | 37 | |||||||||||||||||||||
Current Assets | 281 | 310 | 281 | 310 | ||||||||||||||||||||
Assets, Noncurrent | 1,401 | 1,435 | 1,401 | 1,435 | ||||||||||||||||||||
Current Liabilities | 64 | 82 | 64 | 82 | ||||||||||||||||||||
Total non-current liabilities | 1,043 | 1,086 | 1,043 | 1,086 | ||||||||||||||||||||
Utah Solar Portfolio [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Revenues | 13 | 0 | 0 | |||||||||||||||||||||
Operating Income (Loss) | (6) | (1) | 0 | |||||||||||||||||||||
Net Income (Loss) | (6) | (1) | 0 | |||||||||||||||||||||
Current Assets | 20 | 11 | 20 | 11 | ||||||||||||||||||||
Assets, Noncurrent | 1,105 | 705 | 1,105 | 705 | ||||||||||||||||||||
Current Liabilities | 14 | 229 | 14 | 229 | ||||||||||||||||||||
Total non-current liabilities | $ 38 | 0 | 38 | 0 | ||||||||||||||||||||
GCE Holding LLC [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Revenues | $ 72 | 78 | 82 | |||||||||||||||||||||
Equity Method Investment, Ownership Percentage | [8] | 50.00% | 50.00% | |||||||||||||||||||||
Operating Income (Loss) | $ 38 | 40 | 40 | |||||||||||||||||||||
Net Income (Loss) | 26 | 28 | $ 28 | |||||||||||||||||||||
Current Assets | $ 36 | 36 | 36 | 36 | ||||||||||||||||||||
Assets, Noncurrent | 389 | 416 | 389 | 416 | ||||||||||||||||||||
Current Liabilities | 16 | 16 | 16 | 16 | ||||||||||||||||||||
Total non-current liabilities | $ 196 | 215 | $ 196 | 215 | ||||||||||||||||||||
NRG DGPV Holdco 2 [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Long-term Debt | 21 | 21 | ||||||||||||||||||||||
EurusEnergy [Member] | Avenal [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | ||||||||||||||||||||||
SyndicateofBanks [Member] | Avenal [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Long-term Debt | $ 134 | 143 | $ 134 | 143 | $ 209 | |||||||||||||||||||
Fixed Rate Notes [Member] | GCE Holding LLC [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.73% | 4.73% | ||||||||||||||||||||||
Long-term Debt | $ 212 | $ 220 | $ 212 | $ 220 | ||||||||||||||||||||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 106 | 106 | ||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 237 | $ 237 | ||||||||||||||||||||||
Working Capital Facility [Member] | GCE Holding LLC [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.875% | 1.875% | ||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35 | $ 35 | ||||||||||||||||||||||
Agua Caliente Financing Agreement [Member] | Notes Payable to Banks [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Long-term Debt | 136 | 136 | ||||||||||||||||||||||
Agua Caliente Financing Agreement [Member] | Notes Payable to Banks [Member] | Agua Caliente [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Long-term Debt | 849 | 849 | ||||||||||||||||||||||
GenConn Facility [Member] | Working Capital Facility [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Line of Credit Facility, Fair Value of Amount Outstanding | $ 14 | $ 14 | ||||||||||||||||||||||
U.S. Treasury Rate [Member] | Agua Caliente Financing Agreement [Member] | Notes Payable to Banks [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.375% | |||||||||||||||||||||||
Subsequent Event [Member] | Agua Caliente [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 16.00% | |||||||||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | |||||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | |||||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||||
[4] | (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 December 31, 2016. | |||||||||||||||||||||||
[5] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||||
[6] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | |||||||||||||||||||||||
[7] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||||
[8] | GenConn is a variable interest entity. |
Equity Method Investments and73
Equity Method Investments and VIEs Equity Method Investments and VIEs - VIEs that are consolidated (Details) | Feb. 19, 2016USD ($) | Nov. 03, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2016USD ($)MW | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Nov. 02, 2015USD ($)MW | May 07, 2015 | |
Variable Interest Entity [Line Items] | |||||||||
Other Assets | [1] | $ 2,504,000,000 | $ 2,325,000,000 | ||||||
Power Generation Capacity, Megawatts | MW | [2] | 4,997 | |||||||
Proceeds from Noncontrolling Interests | $ 5,000,000 | 122,000,000 | $ 190,000,000 | ||||||
Property, Plant and Equipment, Net | [1] | 5,460,000,000 | 5,878,000,000 | ||||||
Total Assets | [1] | 8,620,000,000 | 8,622,000,000 | ||||||
Liabilities | [1] | $ 6,316,000,000 | $ 5,982,000,000 | ||||||
November 2015 Drop Down Assets [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 75.00% | ||||||||
Number of Facilities | 12 | ||||||||
Payments to Acquire Businesses, Gross | $ 207,000,000 | $ 209,000,000 | |||||||
Business Acquisition, Consideration Transferred, Working Capital | $ 2,000,000 | ||||||||
Wind Farms [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Power Generation Capacity, Megawatts | MW | [2] | 1,999 | |||||||
Wind Farms [Member] | November 2015 Drop Down Assets [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Power Generation Capacity, Megawatts | MW | 814 | ||||||||
Wind Farms [Member] | Spring Canyon [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 90.10% | ||||||||
Wind Farms [Member] | Spring Canyon II [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Power Generation Capacity, Megawatts | MW | 32 | ||||||||
Wind Farms [Member] | Spring Canyon III [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Power Generation Capacity, Megawatts | MW | 28 | ||||||||
Financial Institutions [Member] | November 2015 Drop Down Assets [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Taxable Income Allocation, Pre-Flip | 99.00% | ||||||||
Taxable Income Allocation, Post-Flip | 8.53% | ||||||||
Pre-Flip Point [Member] | November 2015 Drop Down Assets [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 75.00% | ||||||||
Post-Flip Point [Member] | November 2015 Drop Down Assets [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 68.60% | ||||||||
Pre-determined Date Through Flip Point If Flip Has Not Occured [Member] | Financial Institutions [Member] | November 2015 Drop Down Assets [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 100.00% | ||||||||
November 2015 Drop Down Assets [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Other Assets | $ 193,000,000 | ||||||||
Property, Plant and Equipment, Net | 441,000,000 | ||||||||
Intangible Assets, Net (Excluding Goodwill) | 2,000,000 | ||||||||
Total Assets | 636,000,000 | ||||||||
Liabilities | 209,000,000 | ||||||||
Noncontrolling Interest in Variable Interest Entity | 139,000,000 | ||||||||
Net Assets | 288,000,000 | ||||||||
Alta X and XI TE Holdco [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Other Assets | 17,000,000 | ||||||||
Property, Plant and Equipment, Net | 461,000,000 | ||||||||
Intangible Assets, Net (Excluding Goodwill) | 274,000,000 | ||||||||
Total Assets | 752,000,000 | ||||||||
Liabilities | 9,000,000 | ||||||||
Noncontrolling Interest in Variable Interest Entity | 107,000,000 | ||||||||
Net Assets | $ 636,000,000 | ||||||||
Alta X and XI TE Holdco [Member] | Financial Institutions [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Taxable Income Allocation, Pre-Flip | 99.00% | ||||||||
Taxable Income Allocation, Post-Flip | 5.00% | ||||||||
Proceeds from Noncontrolling Interests | $ 119,000,000 | ||||||||
Alta X and XI TE Holdco [Member] | Post-Flip Point [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 97.12% | ||||||||
Alta X and XI TE Holdco [Member] | Pre-determined Date Through Flip Point If Flip Has Not Occured [Member] | Financial Institutions [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 100.00% | ||||||||
Alta X and XI TE Holdco [Member] | First Year [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 100.00% | ||||||||
Alta X and XI TE Holdco [Member] | Second Year through Flip Point [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 94.34% | ||||||||
Spring Canyon [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Other Assets | $ 4,000,000 | ||||||||
Property, Plant and Equipment, Net | 100,000,000 | ||||||||
Intangible Assets, Net (Excluding Goodwill) | 0 | ||||||||
Total Assets | 104,000,000 | ||||||||
Liabilities | 6,000,000 | ||||||||
Noncontrolling Interest in Variable Interest Entity | 67,000,000 | ||||||||
Net Assets | $ 31,000,000 | ||||||||
Spring Canyon [Member] | Pre-Flip Point [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 65.19% | ||||||||
Spring Canyon [Member] | Pre-Flip Point [Member] | Financial Institutions [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 34.81% | ||||||||
Spring Canyon [Member] | Post-Flip Point [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 95.00% | ||||||||
Spring Canyon [Member] | Post-Flip Point [Member] | Financial Institutions [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Percentage of Cash Available for Distributions | 5.00% | ||||||||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[2] | (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 December 31, 2016. |
Equity Method Investments and74
Equity Method Investments and VIEs Equity Method Investments and VIEs - VIEs that are not consolidated (Details) $ in Millions | Mar. 27, 2017USD ($) | Feb. 29, 2016USD ($)generatingunitMW | May 08, 2015generatingunitMW | Dec. 31, 2016USD ($)generatingunitMW | Aug. 05, 2016USD ($) | Dec. 31, 2015USD ($) | |
Variable Interest Entity [Line Items] | |||||||
Power Generation Capacity, Megawatts | MW | [1] | 4,997 | |||||
Equity investments in affiliates | [2] | $ 1,152 | $ 797 | ||||
NRG DGPV Holdco 1 [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Equity investments in affiliates | [3] | 75 | |||||
NRG DGPV Holdco 1 [Member] | Tax Equity Financed Portfolio of Leases - Community Solar [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Number of Solar Leases in Portfolio | generatingunit | 10 | ||||||
Power Generation Capacity, Megawatts | MW | 8 | ||||||
Remaining Lease Term | 19 years | ||||||
NRG DGPV Holdco 1 [Member] | Tax Equity Financed Portfolio of Leases - Commercial PV 1 [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Number of Solar Leases in Portfolio | generatingunit | 12 | ||||||
Power Generation Capacity, Megawatts | MW | 37 | ||||||
Remaining Lease Term | 18 years | ||||||
NRG DGPV Holdco 1 [Member] | Tax Equity Financed Portfolio of Leases - Commercial PV 2 [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Number of Solar Leases in Portfolio | generatingunit | 3 | ||||||
Power Generation Capacity, Megawatts | MW | 1 | ||||||
Remaining Lease Term | 20 years | ||||||
NRG DGPV Holdco 2 [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Equity investments in affiliates | [3] | 24 | |||||
NRG DGPV Holdco 2 [Member] | Tax Equity Financed Portfolio of Leases - Commercial PV 1 [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Number of Solar Leases in Portfolio | generatingunit | 18 | ||||||
Power Generation Capacity, Megawatts | MW | 28 | ||||||
Remaining Lease Term | 21 years | ||||||
NRG DGPV Holdco 2 [Member] | Tax Equity Financed Portfolio of Leases - Commercial PV 2 [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Number of Solar Leases in Portfolio | generatingunit | 21 | ||||||
Power Generation Capacity, Megawatts | MW | 18 | ||||||
Remaining Lease Term | 20 years | ||||||
NRG DGPV Holdco [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Equity investments in affiliates | 99 | ||||||
NRG RPV Holdco [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Equity investments in affiliates | [3] | $ 71 | |||||
NRG RPV Holdco [Member] | Tax Equity Financed Portfolio of Leases [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Number of Solar Leases in Portfolio | generatingunit | 5,400 | ||||||
Power Generation Capacity, Megawatts | MW | 31 | ||||||
Capital Contributions From Partners in Equity Method Investment | $ 59 | ||||||
NRG RPV Holdco [Member] | Existing Portfolio of Leases [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Number of Solar Leases in Portfolio | generatingunit | 2,200 | ||||||
Power Generation Capacity, Megawatts | MW | 15 | ||||||
Remaining Lease Term | 19 years | ||||||
Maximum [Member] | NRG DGPV Holdco 1 [Member] | Tax Equity Financed Portfolio of Leases [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Equity investments in affiliates | $ 100 | ||||||
Maximum [Member] | NRG DGPV Holdco 2 [Member] | Tax Equity Financed Portfolio of Leases [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Equity investments in affiliates | $ 50 | ||||||
Maximum [Member] | NRG RPV Holdco [Member] | Tax Equity Financed Portfolio of Leases [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Remaining Lease Term | 19 years | ||||||
Capital Contributions From Partners in Equity Method Investment | $ 150 | $ 60 | $ 100 | ||||
NRG [Member] | NRG DGPV Holdco [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Due to Related Parties, Current | $ 14 | ||||||
Subsequent Event [Member] | Utah Solar Portfolio [Member] | |||||||
Variable Interest Entity [Line Items] | |||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 99.00% | ||||||
Percentage of Right to Receive Cash Distributed | 50.00% | ||||||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $ 346 | ||||||
[1] | (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 December 31, 2016. | ||||||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[3] | Economic interest based on cash to be distributed. NRG DGPV Holdco 1 LLC, NRG DGPV Holdco 2 LLC, and NRG RPV Holdco 1 LLC are tax equity structures and VIEs. The related allocations are described below. |
Equity Method Investments and75
Equity Method Investments and VIEs Equity Method Investments and VIEs (Details) - MW | Mar. 27, 2017 | Dec. 31, 2016 | |
Schedule of Equity Method Investments [Line Items] | |||
Power Generation Capacity, Megawatts | [1] | 4,997 | |
Subsequent Event [Member] | Agua Caliente [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 16.00% | ||
[1] | (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 December 31, 2016. |
Fair Value of Financial Instr76
Fair Value of Financial Instruments Fair Value of Financial Instruments - Balance Sheet Grouping (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt — affiliate | [1] | $ 618 | $ 618 |
Long-term Debt and Capital Lease Obligations, Including Current Maturities | 6,007 | 5,678 | |
Reported Value Measurement [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Financing Receivable, Net | 30 | 47 | |
Long-term Debt and Capital Lease Obligations, Including Current Maturities | 5,451 | 5,060 | |
Estimate of Fair Value Measurement [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Financing Receivable, Net | 30 | 47 | |
Long-term debt — affiliate | 608 | 553 | |
Long-term Debt and Capital Lease Obligations, Including Current Maturities | 5,435 | 4,974 | |
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 | 833 | 413 | |
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 | $ 5,210 | $ 5,114 | |
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Fair Value of Financial Instr77
Fair Value of Financial Instruments Fair Value of Financial Instruments - Recurring Fair Value (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
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 | 76,000,000 | $ 100,000,000 | |
Fair Value Assets, Measured on Recurring Basis, Valuation Techniques, Impact of Credit Reserve to Fair Value | 1,000,000 | ||
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | $ 2,800,000,000 | ||
Estimated Counterparty Credit Risk Exposure to Certain Counterparties, Period | 5 years | ||
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] | 2,000,000 | 0 |
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 Assets (Liabilities), at Fair Value, Net | 0 | 0 | |
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] | 76,000,000 | 100,000,000 |
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 | 1,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 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 | 1,000,000 | 0 | |
Derivative Liability, Fair Value, Gross Liability | 1,000,000 | 2,000,000 | |
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 | 0 | ||
Derivative Liability, Fair Value, Gross Liability | 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 | 1,000,000 | 0 | |
Derivative Liability, Fair Value, Gross Liability | $ 75,000,000 | $ 98,000,000 | |
[1] | (a) There were no assets or liabilities classified as Level 1 as of December 31, 2015. There were no assets or liabilities classified Level 3 as of December 31, 2016 and 2015. |
Accounting for Derivative Ins78
Accounting for Derivative Instruments and Hedging Activities - FV of Derivatives (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $ 2,069 | |
Derivative Asset, Fair Value, Gross Asset | 3 | |
Derivative Liability, Fair Value, Gross Liability | 76 | $ 100 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset | 2 | |
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) | |
MMbtu [Member] | Natural Gas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 3 | 4 |
United States of America, Dollars | Interest [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 2,070 | 1,991 |
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 Asset | 2 | |
Derivative Liability, Fair Value, Gross Asset | 0 | |
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 Asset | 0 | |
Derivative Liability, Fair Value, Gross Asset | 1 | |
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) | |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 1 | |
Derivative Liability, Fair Value, Gross Liability | 65 | 90 |
Designated as Hedging Instrument [Member] | Interest Rate Contract Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | |
Derivative Liability, Fair Value, Gross Liability | 26 | 34 |
Designated as Hedging Instrument [Member] | Interest Rate Contract Non Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 1 | |
Derivative Liability, Fair Value, Gross Liability | 39 | 56 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 2 | |
Derivative Liability, Fair Value, Gross Liability | 11 | 10 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | |
Derivative Liability, Fair Value, Gross Liability | 5 | 3 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract Non Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | |
Derivative Liability, Fair Value, Gross Liability | 5 | 5 |
Not Designated as Hedging Instrument [Member] | Commodity Contract Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 2 | |
Derivative Liability, Fair Value, Gross Liability | $ 1 | $ 2 |
Accounting for Derivative Ins79
Accounting for Derivative Instruments and Hedging Activities - AOCI (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Derivative [Line Items] | ||||
Derivative, Collateral, Right to Reclaim Cash | $ 0 | $ 0 | ||
Derivative, Collateral, Obligation to Return Cash | 0 | 0 | ||
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | (86) | (99) | $ (82) | $ (17) |
Mark-to-market of cash flow hedge accounting contracts | (4) | (34) | (80) | |
Losses expected to be realized from OCL during the next 12 months | 19 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Derivative [Line Items] | ||||
Reclassified from accumulated OCL to income due to realization of previously deferred amounts | 17 | 17 | 15 | |
Noncontrolling Interest [Member] | ||||
Derivative [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | (3) | (3) | (2) | |
Successor [Member] | ||||
Derivative [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | $ (83) | $ (96) | $ (80) |
Accounting for Derivative Ins80
Accounting for Derivative Instruments and Hedging Activities - Impact on Statement of Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Unrealized Gain (Loss) on Derivatives | $ 13 | $ (17) | [1] | $ (65) | [1] |
Interest Rate Contract [Member] | Interest Expense [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Unrealized Gain (Loss) on Derivatives | $ 2 | 16 | (22) | ||
Commodity Contract [Member] | Sales [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Unrealized Gain (Loss) on Derivatives | $ (2) | $ 2 | |||
[1] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. |
Intangible Assets Intangible 81
Intangible Assets Intangible Assets - (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 71 | |||
Contra Revenue Intangibles Amortization | 69 | $ 54 | $ 29 | |
Amortization of Intangible Assets | 70 | 55 | 30 | |
Finite-Lived Intangible Assets, Gross | 1,449 | 1,455 | 1,462 | |
Finite-Lived Intangible Assets, Other Changes | (6) | (7) | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 163 | 93 | ||
Intangible assets, net | [1] | 1,286 | 1,362 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 71 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 71 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 71 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 71 | |||
Finite-Lived Intangible Asset, Useful Life | 20 years | |||
Accumulated Amortization of Out of Market Contracts | $ 3 | |||
Supply Commitment Arrangement [Domain] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 1,264 | 1,264 | 1,270 | |
Finite-Lived Intangible Assets, Other Changes | 0 | (6) | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 138 | 75 | ||
Intangible assets, net | 1,126 | 1,189 | ||
Leasehold Rights [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 86 | 86 | 86 | |
Finite-Lived Intangible Assets, Other Changes | 0 | 0 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 9 | 5 | ||
Intangible assets, net | 77 | 81 | ||
Customer Relationships [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 66 | 66 | 66 | |
Finite-Lived Intangible Assets, Other Changes | 0 | 0 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 4 | 3 | ||
Intangible assets, net | 62 | 63 | ||
Customer Contracts [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 15 | 15 | 15 | |
Finite-Lived Intangible Assets, Other Changes | 0 | 0 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 7 | 6 | ||
Intangible assets, net | 8 | 9 | ||
Emission Allowances [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 9 | 15 | 16 | |
Finite-Lived Intangible Assets, Other Changes | (6) | (1) | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 2 | 1 | ||
Intangible assets, net | 7 | 14 | ||
Developed Technology Rights [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 3 | 3 | 3 | |
Finite-Lived Intangible Assets, Other Changes | 0 | 0 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 1 | 1 | ||
Intangible assets, net | 2 | 2 | ||
Other Intangible Assets [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 6 | 6 | $ 6 | |
Finite-Lived Intangible Assets, Other Changes | 0 | 0 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 2 | 2 | ||
Intangible assets, net | 4 | $ 4 | ||
Out of Market Contracts [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization | 1 | |||
NRG Solar Blythe LLC [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Out of Market Contracts | 4 | |||
Spring Canyon [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Out of Market Contracts | $ 3 | |||
Finite-Lived Intangible Asset, Useful Life | 25 years | |||
Alta Wind XI [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Out of Market Contracts | $ 5 | |||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Asset Impairments Asset Impai82
Asset Impairments Asset Impairments (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Impairment losses | [1],[2] | $ 183 | $ 0 | $ 0 |
Elbow Creek [Member] | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Impairment losses | 117 | |||
Goat Wind [Member] | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Impairment losses | 60 | |||
Forward [Member] | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Impairment losses | $ 6 | |||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Long-term Debt - Debt Table (De
Long-term Debt - Debt Table (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Oct. 31, 2016 | Jul. 15, 2016 | ||
Debt Instrument [Line Items] | |||||
Long-term debt — affiliate | [1] | $ 618 | $ 618 | ||
Long-term Debt | 6,069 | 5,678 | |||
Current portion of long-term debt — external | [1] | 291 | 264 | ||
Long-term Debt, Excluding Current Maturities | 5,716 | 5,361 | |||
5.375% Senior Notes due in 2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Senior Notes | $ 500 | 500 | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.375% | ||||
5.00% Senior Notes due in 2026 [Member] | |||||
Debt Instrument [Line Items] | |||||
Senior Notes | $ 350 | 0 | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||
Intercompany Credit Agreement due 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt — affiliate | $ 337 | 337 | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.58% | ||||
Intercompany Credit Agreement due 2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt — affiliate | $ 281 | 281 | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.325% | ||||
NRG Yield Revolving Credit Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 0 | 306 | |||
Debt Instrument, Description of Variable Rate Basis | 1 month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||||
Alta Wind I, lease financing arrangement, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 242 | 252 | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.015% | ||||
Alta Wind II, lease financing arrangement, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 191 | 198 | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.696% | ||||
Alta Wind III, lease financing arrangement, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 198 | 206 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.067% | ||||
Alta Wind IV, lease financing arrangement, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 128 | 133 | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.938% | ||||
Alta Wind V, lease financing arrangement, due 2035 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 206 | 213 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.071% | ||||
Alta Realty Investments, due 2031 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 31 | 33 | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | ||||
Alta Wind Asset Management, due 2031 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 18 | 19 | |||
Debt Instrument, Description of Variable Rate Basis | 3 month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.375% | ||||
West Holdings Credit Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 443 | 485 | |||
Marsh Landing Term Loan Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | 370 | 418 | |||
Walnut Creek Energy, LLC, due in 2023 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 310 | 351 | |||
Debt Instrument, Description of Variable Rate Basis | 1 month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.625% | ||||
Tapestry Wind LLC due in 2021 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 172 | 181 | |||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.625% | ||||
Utah Solar Portfolio [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 287 | 0 | |||
NRG Energy Center Minneapolis LLC Senior Secured Notes [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | 96 | 108 | |||
NRG Energy Center Minneapolis Series D Notes [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 125 | 0 | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.55% | 3.55% | |||
Laredo Ridge Wind, LLC, due in 2026 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 100 | 104 | |||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.875% | ||||
South Trent Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 57 | $ 62 | |||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.625% | ||||
Avra Valley [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||
Avra Valley Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 57 | $ 60 | |||
High Desert Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | 49 | 52 | |||
WCEP Holdings, LLC, due in 2023 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 46 | 46 | |||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | ||||
Other Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 0 | 2 | |||
Roadrunner Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 37 | 40 | |||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.625% | ||||
Kansas South Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Description of Variable Rate Basis | 6 month LIBOR | ||||
Kansas South Facility, due 2031 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 30 | $ 33 | |||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||
NRG Solar Blythe LLC Credit Agreement Due 2028 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 19 | $ 21 | |||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.625% | ||||
PFMG Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 27 | 29 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||
Viento Funding II, Inc., due in 2023 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 178 | 189 | |||
Project [Domain] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 4,601 | $ 4,254 | |||
Marsh Landing Tranche A due December 2017 [Member] | |||||
Debt Instrument [Line Items] | |||||
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 | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.875% | ||||
Alpine Financing Agreement, due 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 145 | $ 154 | |||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
NRG Energy Center Minneapolis LLC Senior Secured Notes, due 2017 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.95% | ||||
NRG Energy Center Minneapolis LLC Senior Secured Notes, due 2025 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | ||||
Borrego Financing Agreement, due 2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 69 | 72 | |||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||||
Borrego Financing Agreement, due 2038 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 5.65% | ||||
High Desert Facility, due 2033 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||||
TA - High Desert, due 2023 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.15% | ||||
CVSR Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 771 | 793 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.68% | ||||
CVSR Holdco due 2037 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 199 | $ 0 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.68% | ||||
Letter of Credit [Member] | NRG Yield Revolving Credit Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | $ 60 | ||||
Letter of Credit [Member] | Alta Wind I, lease financing arrangement, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 16 | ||||
Letter of Credit [Member] | Alta Wind II, lease financing arrangement, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 27 | ||||
Letter of Credit [Member] | Alta Wind III, lease financing arrangement, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 27 | ||||
Letter of Credit [Member] | Alta Wind IV, lease financing arrangement, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 19 | ||||
Letter of Credit [Member] | Alta Wind V, lease financing arrangement, due 2035 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 30 | ||||
Letter of Credit [Member] | Alta Realty Investments, due 2031 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 0 | ||||
Letter of Credit [Member] | Alta Wind Asset Management, due 2031 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 0 | ||||
Letter of Credit [Member] | West Holdings Credit Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 82 | ||||
Letter of Credit [Member] | Marsh Landing Term Loan Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 22 | ||||
Letter of Credit [Member] | Walnut Creek Energy, LLC, due in 2023 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 41 | ||||
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 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 13 | ||||
Letter of Credit [Member] | NRG Energy Center Minneapolis LLC Senior Secured Notes [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 0 | ||||
Letter of Credit [Member] | NRG Energy Center Minneapolis Series D Notes [Member] | |||||
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] | South Trent Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 10 | ||||
Letter of Credit [Member] | Avra Valley Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 3 | ||||
Letter of Credit [Member] | High Desert Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 8 | ||||
Letter of Credit [Member] | WCEP Holdings LLC [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 0 | ||||
Letter of Credit [Member] | Roadrunner Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 5 | ||||
Letter of Credit [Member] | Kansas South Facility, due 2031 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 4 | ||||
Letter of Credit [Member] | NRG Solar Blythe LLC Credit Agreement Due 2028 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 6 | ||||
Letter of Credit [Member] | PFMG Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 0 | ||||
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] | Alpine Financing Agreement, due 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 37 | ||||
Letter of Credit [Member] | Borrego Financing Agreement, due 2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Letters of Credit Outstanding, Amount | 5 | ||||
Letter of Credit [Member] | CVSR Financing Agreement [Member] | |||||
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 | ||||
Minimum [Member] | West Holdings Credit Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Description of Variable Rate Basis | 1 month LIBOR | ||||
Debt Instrument, Basis Spread on Variable Rate | |||||
Minimum [Member] | West Holdings Credit Agreement due 2023 Tranche A [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.625% | ||||
Minimum [Member] | West Holdings Credit Agreement due 2023 Tranche B [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||||
Minimum [Member] | Alpine Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||
Minimum [Member] | Alpine [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | |||||
Minimum [Member] | CVSR Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.339% | ||||
Maximum [Member] | West Holdings Credit Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | |||||
Maximum [Member] | Alpine Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | |||||
Maximum [Member] | Alpine [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | |||||
Maximum [Member] | CVSR Financing Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.775% | ||||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Long-term Debt - Corporate Debt
Long-term Debt - Corporate Debt (Details) | Aug. 18, 2016USD ($) | Jul. 15, 2016USD ($) | Jun. 30, 2015 | May 15, 2015 | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Jun. 29, 2015USD ($)$ / shares | Mar. 31, 2014USD ($) | Feb. 11, 2014USD ($)$ / shares |
Intercompany Credit Agreement due 2020 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.325% | ||||||||
3.25% Convertible Notes due 2020 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Convertible Debt | $ 287,500,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | ||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 27.50 | ||||||||
Debt Instrument, Convertible, Conversion Ratio | 36.3636 | ||||||||
Debt Instrument, Face Amount | $ 1,000 | ||||||||
3.5% Convertible Notes due 2019 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Convertible Debt | $ 345,000,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | ||||||||
Debt Instrument, Convertible, Conversion Ratio | 42.9644 | ||||||||
Convertible Debt [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 46.55 | ||||||||
Debt Instrument, Face Amount | $ 1,000 | ||||||||
Intercompany Credit Agreement due 2019 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.58% | ||||||||
NRG Yield Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 495,000,000 | ||||||||
Proceeds from Issuance of Debt | 60,000,000 | ||||||||
Line of Credit Facility, Fair Value of Amount Outstanding | 0 | ||||||||
Repayments of Debt | $ 366,000,000 | ||||||||
CVSR Financing Agreement [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.68% | ||||||||
Proceeds from Issuance of Debt | $ 200,000,000 | ||||||||
Proceeds from Debt, Net of Issuance Costs | $ 97,500,000 | ||||||||
5.00% Senior Notes due in 2026 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||||||
Proceeds from Issuance of Unsecured Debt | $ 350,000,000 | ||||||||
Letter of Credit [Member] | NRG Yield Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Letters of Credit Outstanding, Amount | $ 60,000,000 | ||||||||
Letter of Credit [Member] | CVSR Financing Agreement [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Letters of Credit Outstanding, Amount | $ 0 | ||||||||
November 2015 Drop Down Assets [Member] | NRG Yield Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 254,000,000 |
Long-term Debt Long-Term Debt T
Long-term Debt Long-Term Debt Thermal/CVSR (Details) - USD ($) $ in Millions | Oct. 31, 2016 | Jul. 15, 2016 | Mar. 31, 2016 | Mar. 31, 2017 | Feb. 17, 2017 | Dec. 31, 2016 | Sep. 01, 2016 | Aug. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | |||||||||
Long-term Debt | $ 6,069 | $ 5,678 | |||||||
Utah Solar Portfolio [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term Debt | $ 287 | 0 | |||||||
Line of Credit Facility, Commitment Fee Percentage | 2.625% | ||||||||
NRG Energy Center Minneapolis Series D Notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 125 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.55% | 3.55% | |||||||
Long-term Debt | $ 125 | 0 | |||||||
CVSR Financing Agreement [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from Issuance of Debt | $ 200 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.68% | ||||||||
Proceeds from Debt, Net of Issuance Costs | $ 97.5 | ||||||||
Long-term Debt | $ 771 | 793 | |||||||
CVSR Holdco due 2037 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.68% | ||||||||
Long-term Debt | $ 199 | $ 0 | |||||||
CVSR [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Equity Method Investment, Ownership Percentage | 48.95% | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.05% | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | $ 496 | ||||||||
CVSR [Member] | CVSR Financing Agreement [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term Debt | 771 | ||||||||
CVSR [Member] | CVSR Holdco due 2037 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term Debt | $ 200 | ||||||||
Line of Credit [Member] | Utah Solar Portfolio [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 13 | ||||||||
Line of Credit [Member] | Subsequent Event [Member] | Utah Solar Portfolio [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 11 | ||||||||
Letter of Credit [Member] | Subsequent Event [Member] | Aqua Caliente Borrower 2, due 2038 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term Debt | $ 17 |
Long-term Debt Long-Term Debt A
Long-term Debt Long-Term Debt Avenal/Alta (Details) - USD ($) $ in Millions | Mar. 18, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 6,069 | $ 5,678 | ||
NRG Yield Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | 1 month LIBOR | |||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | |||
Long-term Debt | $ 0 | $ 306 | ||
Letter of Credit [Member] | Alta Wind I - V Lease financing arrangement [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | 119 | |||
Alta Wind I - V Lease financing arrangement [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 965 | |||
Avenal [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 43 | |||
Proceeds from Debt, Net of Issuance Costs | $ 20 | |||
Equity Method Investment, Ownership Percentage | 50.00% | |||
September 22, 2010 to March 18, 2015 [Member] | Avenal [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | 6 month LIBOR | |||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | |||
March 18, 2015 to March 17, 2022 [Member] | Avenal [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | 6 month LIBOR | |||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||
March 18, 2022 to March 17, 2027 [Member] | Avenal [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | 6 month LIBOR | |||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||
March 18, 2027 through Maturity [Member] | Avenal [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | 6 month LIBOR | |||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | |||
Alta Wind I - V Lease financing arrangement [Member] | Revolving Credit Facility [Member] | NRG Yield Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of Credit, Issued Amount | $ 23 | |||
Utility-Scale Solar [Member] | Avenal [Member] | ||||
Debt Instrument [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | 49.95% |
Long-term Debt Long-Term Debt S
Long-term Debt Long-Term Debt Swaps/Maturities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $ 291 | |
Derivative, Notional Amount | 2,069 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 304 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 657 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 647 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 452 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 3,718 | |
Long-term Debt | $ 6,069 | $ 5,678 |
Alta Wind Asset Management, due 2031 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Description of Variable Rate Basis | 3 month LIBOR | |
Long-term Debt | $ 18 | 19 |
Viento Funding II, Inc., due in 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 178 | 189 |
WCEP Holdings, LLC, due in 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Long-term Debt | $ 46 | $ 46 |
Interest Rate Swap [Member] | Alta Wind Asset Management, due 2031 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 100.00% | |
Derivative, Fixed Interest Rate | 2.47% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 18 | |
Interest Rate Swap [Member] | Viento Funding II, Inc., due in 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 90.00% | |
Debt Instrument, Description of Variable Rate Basis | 6-Month LIBOR | |
Derivative, Notional Amount | $ 160 | |
Interest Rate Swap [Member] | Walnut Creek [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 276 | |
Interest Rate Swap [Member] | WCEP Holdings, LLC, due in 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 90.00% | |
Derivative, Fixed Interest Rate | 4.003% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 46 | |
Interest Rate Swap [Member] | Maturity - June 30, 2028 [Member] | Viento Funding II, Inc., due in 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 90.00% | |
Derivative, Fixed Interest Rate | 4.985% | |
Debt Instrument, Description of Variable Rate Basis | 6-Month LIBOR | |
Derivative, Notional Amount | $ 65 | |
NRG Solar Alpine LLC [Member] | Interest Rate Swap [Member] | Maturity - December 31, 2029 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 85.00% | |
Derivative, Fixed Interest Rate | 2.744% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 115 | |
NRG Solar Alpine LLC [Member] | Interest Rate Swap [Member] | Maturity - June 30, 2025 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 85.00% | |
Derivative, Fixed Interest Rate | 2.421% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 8 | |
NRG Solar Avra Valley [Member] | Interest Rate Swap [Member] | Maturity - November 30, 2030 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 85.00% | |
Derivative, Fixed Interest Rate | 2.333% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 49 | |
NRG Solar Blythe LLC [Member] | Interest Rate Swap [Member] | Maturity - June 25, 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 3.563% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 14 | |
Borrego [Member] | Interest Rate Swap [Member] | Maturity - December 31, 2029 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 1.125% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 7 | |
NRG West Holdings LLC [Member] | Interest Rate Swap [Member] | Maturity - June 30, 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 2.417% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 330 | |
Kansas South [Member] | Interest Rate Swap [Member] | Maturity - June 30, 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 2.368% | |
Debt Instrument, Description of Variable Rate Basis | 6-Month LIBOR | |
Derivative, Notional Amount | $ 23 | |
Laredo Ridge [Member] | Interest Rate Swap [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 2.31% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 79 | |
Marsh Landing [Member] | Interest Rate Swap [Member] | Maturity - June 30, 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 3.244% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 342 | |
NRG Solar Roadrunner LLC [Member] | Interest Rate Swap [Member] | Maturity - December 31, 2029 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 4.313% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 28 | |
South Trent Wind LLC [Member] | Interest Rate Swap [Member] | Maturity - June14, 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 3.265% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 43 | |
South Trent Wind LLC [Member] | Interest Rate Swap [Member] | Maturity - June 14, 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 4.95% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 21 | |
Tapestry Wind [Member] | Interest Rate Swap [Member] | Maturity - December 21, 2021 [Member] [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | |
Derivative, Fixed Interest Rate | 2.21% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 155 | |
Tapestry Wind [Member] | Interest Rate Swap [Member] | Maturity - December 21, 2029 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 50.00% | |
Derivative, Fixed Interest Rate | 3.57% | |
Debt Instrument, Description of Variable Rate Basis | 3-Month LIBOR | |
Derivative, Notional Amount | $ 60 | |
Utah Solar Portfolio [Member] | Interest Rate Swap [Member] | Maturity - December 21, 2029 [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of Debt Hedged by Interest Rate Derivatives | 80.00% | |
Debt Instrument, Description of Variable Rate Basis | 1-Month LIBOR | |
Derivative, Notional Amount | $ 230 |
Members' Equity (Details)
Members' Equity (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Capitalization, Equity [Line Items] | |||||||
Distribution Made to Limited Liability Company (LLC) Member, Distributions Paid, Per Unit | $ 0.25 | ||||||
Dividends Payable, Date Declared | Feb. 15, 2017 | ||||||
Common Stock, Dividends, Per Share, Declared | $ 0.26 | ||||||
Dividends Payable, Date to be Paid | Mar. 15, 2017 | ||||||
March 2017 Drop Down Assets [Member] | |||||||
Schedule of Capitalization, Equity [Line Items] | |||||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | $ 8 | ||||||
CVSR [Member] | |||||||
Schedule of Capitalization, Equity [Line Items] | |||||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | $ 112 | ||||||
2015 Drop Down Asssets [Member] | |||||||
Schedule of Capitalization, Equity [Line Items] | |||||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | $ 109 | ||||||
June 2014 Drop Down Assets [Member] | |||||||
Schedule of Capitalization, Equity [Line Items] | |||||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | $ 113 | ||||||
Common Class B [Member] | |||||||
Schedule of Capitalization, Equity [Line Items] | |||||||
Distribution Made to Limited Liability Company (LLC) Member, Distributions Paid, Per Unit | $ 0.225 | ||||||
Common Class D [Member] | |||||||
Schedule of Capitalization, Equity [Line Items] | |||||||
Distribution Made to Limited Liability Company (LLC) Member, Distributions Paid, Per Unit | $ 0.24 | $ 0.23 | $ 0.225 |
Segment Reporting (Details)
Segment Reporting (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||||
Segment Reporting | ||||||||||||||||||||||
Total operating revenues | $ 232 | $ 272 | $ 283 | $ 234 | $ 224 | [2] | $ 256 | $ 259 | $ 214 | $ 1,021 | [3] | $ 953 | [3] | $ 828 | [3] | |||||||
Cost of operations | 306 | 321 | 277 | |||||||||||||||||||
Depreciation and amortization | [3] | 297 | 297 | 233 | ||||||||||||||||||
Impairment losses | [3],[4] | 183 | 0 | 0 | ||||||||||||||||||
General and administrative | [3] | 14 | 10 | 8 | ||||||||||||||||||
Acquisition-related transaction and integration costs | [3] | 1 | 3 | 4 | ||||||||||||||||||
Operating Income | (99) | 118 | 128 | 73 | 71 | [2] | 102 | 99 | 50 | 220 | [3] | 322 | [3] | 306 | [3] | |||||||
Equity in earnings of unconsolidated affiliates | [3],[4] | 60 | 31 | 22 | ||||||||||||||||||
Other income, net | [3] | 3 | 3 | 6 | ||||||||||||||||||
Loss on debt extinguishment | [3],[4] | 0 | (9) | (1) | ||||||||||||||||||
Interest expense | [3] | (268) | (254) | (211) | ||||||||||||||||||
Income Before Income Taxes | 93 | 122 | ||||||||||||||||||||
Net Income | (139) | $ 67 | $ 81 | $ 6 | 20 | [2] | $ 47 | $ 50 | $ (24) | 15 | [3],[5] | 93 | [3],[5],[6] | 122 | [3],[5],[6] | |||||||
Equity Method Investments | [7] | 1,152 | 797 | 1,152 | 797 | |||||||||||||||||
Total Assets | [7] | 8,620 | 8,622 | 8,620 | 8,622 | |||||||||||||||||
Capital Expenditures | 23 | [8] | 30 | [9] | 23 | [8] | 30 | [9] | ||||||||||||||
Conventional Generation [Member] | ||||||||||||||||||||||
Segment Reporting | ||||||||||||||||||||||
Total operating revenues | 333 | 336 | 317 | |||||||||||||||||||
Cost of operations | 66 | 59 | 55 | |||||||||||||||||||
Depreciation and amortization | 80 | 81 | 82 | |||||||||||||||||||
Impairment losses | 0 | |||||||||||||||||||||
General and administrative | 0 | 0 | 0 | |||||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | |||||||||||||||||||
Operating Income | 187 | 196 | 180 | |||||||||||||||||||
Equity in earnings of unconsolidated affiliates | 13 | 14 | 14 | |||||||||||||||||||
Other income, net | 1 | 1 | 0 | |||||||||||||||||||
Loss on debt extinguishment | (7) | 0 | ||||||||||||||||||||
Interest expense | (48) | (48) | (53) | |||||||||||||||||||
Income Before Income Taxes | 156 | 141 | ||||||||||||||||||||
Net Income | 153 | |||||||||||||||||||||
Equity Method Investments | 106 | 110 | 106 | 110 | ||||||||||||||||||
Total Assets | 1,993 | 2,102 | 1,993 | 2,102 | ||||||||||||||||||
Capital Expenditures | 7 | 4 | 7 | 4 | ||||||||||||||||||
Corporate | ||||||||||||||||||||||
Segment Reporting | ||||||||||||||||||||||
Total operating revenues | 0 | 0 | 0 | |||||||||||||||||||
Cost of operations | 0 | 0 | 0 | |||||||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | |||||||||||||||||||
Impairment losses | 0 | |||||||||||||||||||||
General and administrative | 14 | 10 | 8 | |||||||||||||||||||
Acquisition-related transaction and integration costs | 1 | 3 | 4 | |||||||||||||||||||
Operating Income | (15) | (13) | (12) | |||||||||||||||||||
Equity in earnings of unconsolidated affiliates | 0 | 0 | 0 | |||||||||||||||||||
Other income, net | 0 | 0 | 1 | |||||||||||||||||||
Loss on debt extinguishment | 0 | 0 | ||||||||||||||||||||
Interest expense | (66) | (52) | (25) | |||||||||||||||||||
Income Before Income Taxes | (65) | (36) | ||||||||||||||||||||
Net Income | (81) | |||||||||||||||||||||
Equity Method Investments | 0 | 0 | ||||||||||||||||||||
Total Assets | 213 | 22 | 213 | 22 | ||||||||||||||||||
Capital Expenditures | 0 | 0 | 0 | 0 | ||||||||||||||||||
Thermal [Member] | ||||||||||||||||||||||
Segment Reporting | ||||||||||||||||||||||
Total operating revenues | 170 | 174 | 195 | |||||||||||||||||||
Cost of operations | 114 | 126 | 139 | |||||||||||||||||||
Depreciation and amortization | 20 | 19 | 18 | |||||||||||||||||||
Impairment losses | 0 | |||||||||||||||||||||
General and administrative | 0 | 0 | 0 | |||||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | |||||||||||||||||||
Operating Income | 36 | 29 | 38 | |||||||||||||||||||
Equity in earnings of unconsolidated affiliates | 0 | 0 | 0 | |||||||||||||||||||
Other income, net | 0 | 0 | 0 | |||||||||||||||||||
Loss on debt extinguishment | 0 | 0 | ||||||||||||||||||||
Interest expense | (7) | (7) | (7) | |||||||||||||||||||
Income Before Income Taxes | 22 | 31 | ||||||||||||||||||||
Net Income | 29 | |||||||||||||||||||||
Equity Method Investments | 0 | 0 | 0 | 0 | ||||||||||||||||||
Total Assets | 426 | 428 | 426 | 428 | ||||||||||||||||||
Capital Expenditures | 14 | 20 | 14 | 20 | ||||||||||||||||||
Renewables | ||||||||||||||||||||||
Segment Reporting | ||||||||||||||||||||||
Total operating revenues | 518 | 443 | 316 | |||||||||||||||||||
Cost of operations | 126 | 136 | 83 | |||||||||||||||||||
Depreciation and amortization | 197 | 197 | 133 | |||||||||||||||||||
Impairment losses | 183 | |||||||||||||||||||||
General and administrative | 0 | 0 | 0 | |||||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | |||||||||||||||||||
Operating Income | 12 | 110 | 100 | |||||||||||||||||||
Equity in earnings of unconsolidated affiliates | 47 | 17 | 8 | |||||||||||||||||||
Other income, net | 2 | 2 | 5 | |||||||||||||||||||
Loss on debt extinguishment | (2) | (1) | ||||||||||||||||||||
Interest expense | (147) | (147) | (126) | |||||||||||||||||||
Income Before Income Taxes | (20) | $ (14) | ||||||||||||||||||||
Net Income | (86) | |||||||||||||||||||||
Equity Method Investments | 1,046 | 687 | 1,046 | 687 | ||||||||||||||||||
Total Assets | 5,988 | 6,070 | 5,988 | 6,070 | ||||||||||||||||||
Capital Expenditures | $ 2 | $ 6 | $ 2 | $ 6 | ||||||||||||||||||
Southern California Edison [Member] | Conventional Generation [Member] | ||||||||||||||||||||||
Segment Reporting | ||||||||||||||||||||||
Customer's Percentage of Total Revenue | 21.00% | 23.00% | 24.00% | |||||||||||||||||||
Southern California Edison [Member] | Renewables | ||||||||||||||||||||||
Segment Reporting | ||||||||||||||||||||||
Customer's Percentage of Total Revenue | 21.00% | 17.00% | 7.00% | |||||||||||||||||||
PG&E [Member] | Conventional Generation [Member] | ||||||||||||||||||||||
Segment Reporting | ||||||||||||||||||||||
Customer's Percentage of Total Revenue | 12.00% | 13.00% | 15.00% | |||||||||||||||||||
PG&E [Member] | Renewables | ||||||||||||||||||||||
Segment Reporting | ||||||||||||||||||||||
Customer's Percentage of Total Revenue | 11.00% | 12.00% | 13.00% | |||||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | |||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | |||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||
[5] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||
[6] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | |||||||||||||||||||||
[7] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||||
[8] | (a) Includes accruals. | |||||||||||||||||||||
[9] | (a) Includes accruals. |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Sep. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jan. 05, 2017 | Oct. 31, 2016 | ||
Related Party Transaction [Line Items] | |||||||
General and administrative | [1] | $ 14 | $ 10 | $ 8 | |||
Due to Affiliate, Current | [2] | 40 | 86 | ||||
Due to Affiliate, Noncurrent | [2] | 618 | 618 | ||||
NRG Repowering Holdings LLC [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Due to Affiliate | 7 | ||||||
Payments | 18 | ||||||
Receipt of payments | $ 11 | ||||||
GenOn Energy Services LLC [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Due to Affiliate | 1 | 6 | |||||
Affiliated Entity [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
General and administrative | 6 | ||||||
NRG Yield [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Management Services Fee, Increase | 0.5 | ||||||
General and administrative | 10 | 8 | |||||
NRG Yield [Member] | NRG [Member] | Scenario, Plan [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Management Services Fee, Annual | 7.5 | ||||||
NRG Yield, Inc. [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Due to Affiliate | 3 | ||||||
Thermal [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Due to Affiliate | 20 | 29 | |||||
Due to Affiliate, Current | 11 | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | 29 | 29 | 27 | ||||
Due to Affiliate, Noncurrent | 9 | ||||||
Marsh Landing [Member] | GenOn Energy Services LLC [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 14 | 13 | 13 | ||||
Related Party Costs, Capitalized Amount | 2 | ||||||
Marsh Landing [Member] | NRG RENOM [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Due to Affiliate | 5 | 1 | |||||
Related Party Transaction, Expenses from Transactions with Related Party | 13 | 7 | |||||
El Segundo [Member] | NRG El Segundo Operations, Inc. [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Due to Affiliate | 1 | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | 4 | 4 | |||||
CVSR [Member] | NRG Energy Services LLC [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 4 | 7 | |||||
November 2015 Drop Down Assets [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Other Revenues from Transactions with Related Party | 16 | 12 | |||||
NRG Energy Center Minneapolis LLC [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 7 | 8 | 2 | ||||
Elbow Creek [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Revenue from Related Parties | 8 | ||||||
NECP [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Amount to be Paid Upon Completion of Project | $ 79 | ||||||
Operations and Maintenance services [Member] | Walnut Creek [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 3 | 3 | 2 | ||||
Support services [Member] | November 2015 Drop Down Assets [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 2 | $ 3 | $ 1 | ||||
Subsequent Event [Member] | NECP [Member] | NRG [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Amount to be Paid Upon Completion of Project | $ 87 | ||||||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Commitments and Contingencies91
Commitments and Contingencies (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Long-term Purchase Commitment [Line Items] | |||
Purchase Obligation, Due in Next Twelve Months | $ 13 | ||
Utilities Operating Expense, Purchased Power under Long-term Contracts | 32 | $ 40 | $ 55 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 5 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 2 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 3 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 19 | ||
Purchase Obligation | 45 | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 9 | ||
Operating Leases, Rent Expense | 15 | 10 | 9 |
Operating Leases, Future Minimum Payments, Due in Two Years | 9 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 10 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 9 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 9 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 152 | ||
Operating Leases, Future Minimum Payments Due | 198 | ||
NRG [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Utilities Operating Expense, Purchased Power under Long-term Contracts | $ 8 | $ 13 | $ 12 |
Related Party Transactions O&M
Related Party Transactions O&M Thermal (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Related Party Transaction [Line Items] | ||||
General and administrative | [1] | $ 14 | $ 10 | $ 8 |
Thermal [Member] | NRG [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Expenses from Transactions with Related Party | 29 | 29 | $ 27 | |
Due to Affiliate | $ 20 | $ 29 | ||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Related Party Transactions O&93
Related Party Transactions O&M GenConn (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
GCE Holding LLC [Member] | NRG [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Expenses from Transactions with Related Party | $ 5 | $ 4 | $ 6 |
Related Party Transactions NRG
Related Party Transactions NRG and Dover (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
NRG Repowering Holdings LLC [Member] | |||
Related Party Transaction [Line Items] | |||
Cost of Natural Gas Purchases | $ 1 | $ 5 | |
coal, gas purchases | $ 10 | ||
NRG Energy Center Dover [Member] | NRG [Member] | |||
Related Party Transaction [Line Items] | |||
Revenue from Related Parties | $ 5 |
Related Party Transactions El S
Related Party Transactions El Segundo (Details) - El Segundo [Member] - NRG El Segundo Operations, Inc. [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | ||
Related Party Transaction, Expenses from Transactions with Related Party | $ 4 | $ 4 |
Due to Affiliate | $ 1 |
Related Party Transactions CVSR
Related Party Transactions CVSR (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
CVSR [Member] | NRG Energy Services LLC [Member] | ||
Related Party Transaction [Line Items] | ||
Related Party Transaction, Expenses from Transactions with Related Party | $ 4 | $ 7 |
Condensed Consolidating Finan97
Condensed Consolidating Financial Information Condensed Consolidating Financial Information Condensed Consolidating Financial Information (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
5.375% Senior Notes due in 2024 [Member] | ||
Senior Notes | $ 500 | $ 500 |
5.00% Senior Notes due in 2026 [Member] | ||
Senior Notes | $ 350 | $ 0 |
Unaudited Quarterly Financial98
Unaudited Quarterly Financial Data (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | [3] | Dec. 31, 2015 | Dec. 31, 2014 | |||
Total operating revenues | $ 232 | $ 272 | $ 283 | $ 234 | $ 224 | $ 256 | $ 259 | $ 214 | $ 1,021 | $ 953 | [3] | $ 828 | [3] | |||||||
Operating Income (Loss) | (99) | 118 | 128 | 73 | 71 | 102 | 99 | 50 | 220 | 322 | [3] | 306 | [3] | |||||||
Net Income (Loss) | (139) | 67 | 81 | 6 | 20 | 47 | 50 | (24) | 15 | [4] | 93 | [3],[4],[5] | 122 | [3],[4],[5] | ||||||
Scenario, Previously Reported [Member] | ||||||||||||||||||||
Total operating revenues | 1,021 | 869 | 746 | |||||||||||||||||
Operating Income (Loss) | 220 | 279 | 266 | |||||||||||||||||
Net Income (Loss) | (149) | 64 | 79 | 4 | 20 | 44 | 48 | (24) | $ (2) | $ 78 | $ 108 | |||||||||
Net Income (Loss) [Member] | ||||||||||||||||||||
Quarterly Financial Information, Quarterly Charges and Credits, Amount Reconciling to Previously Reported Results | $ 10 | $ 3 | $ 2 | $ 2 | $ 0 | $ 3 | $ 2 | $ 0 | ||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | |||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | |||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | |||||||||||||||||||
[5] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. |
Condensed Consolidating Finan99
Condensed Consolidating Financial Information CP Income Statement (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | $ 232 | $ 272 | $ 283 | $ 234 | $ 224 | $ 256 | $ 259 | $ 214 | $ 1,021 | [3] | $ 953 | [3] | $ 828 | [3] | |||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | [3] | 306 | 321 | 277 | |||||||||||||||||
Depreciation and amortization | [3] | 297 | 297 | 233 | |||||||||||||||||
Impairment losses | [3],[4] | 183 | 0 | 0 | |||||||||||||||||
General and administrative | [3] | 14 | 10 | 8 | |||||||||||||||||
Acquisition-related transaction and integration costs | [3] | 1 | 3 | 4 | |||||||||||||||||
Total operating costs and expenses | [3] | 801 | 631 | 522 | |||||||||||||||||
Operating Income | (99) | 118 | 128 | 73 | 71 | 102 | 99 | 50 | 220 | [3] | 322 | [3] | 306 | [3] | |||||||
Costs and Expenses [Abstract] | |||||||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 0 | 0 | 0 | ||||||||||||||||||
Equity in earnings of unconsolidated affiliates | [3],[4] | 60 | 31 | 22 | |||||||||||||||||
Other income, net | [3] | 3 | 3 | 6 | |||||||||||||||||
Interest expense | [3] | (268) | (254) | (211) | |||||||||||||||||
Total other income (expense), net | [3] | (205) | (229) | (184) | |||||||||||||||||
Net Income | $ (139) | $ 67 | $ 81 | $ 6 | $ 20 | $ 47 | $ 50 | $ (24) | 15 | [3],[5] | 93 | [3],[5],[6] | 122 | [3],[5],[6] | |||||||
Net Income Attributable to NRG Yield LLC | [3] | 157 | 144 | 119 | |||||||||||||||||
Net (Loss) Income Attributable to Noncontrolling Interest | [3] | (142) | (51) | 3 | |||||||||||||||||
NRG Yield LLC [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Impairment losses | 0 | ||||||||||||||||||||
General and administrative | 2 | 0 | 0 | [7],[8] | |||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | 2 | 0 | 0 | [7],[8] | |||||||||||||||||
Operating Income | (2) | 0 | 0 | [7],[8] | |||||||||||||||||
Costs and Expenses [Abstract] | |||||||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 159 | 144 | 118 | [7],[8] | |||||||||||||||||
Equity in earnings of unconsolidated affiliates | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Other income, net | 0 | 0 | 1 | [7],[8] | |||||||||||||||||
Interest expense | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Total other income (expense), net | 159 | 144 | 119 | [7],[8] | |||||||||||||||||
Net Income | 157 | 144 | [9],[10],[11],[12] | 119 | [13],[14] | ||||||||||||||||
Net Income Attributable to NRG Yield LLC | 157 | [15] | 144 | 119 | [7],[8] | ||||||||||||||||
Net (Loss) Income Attributable to Noncontrolling Interest | 0 | [15] | 0 | 0 | [7],[8] | ||||||||||||||||
Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | 22 | 21 | 24 | [7],[8] | |||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | 14 | 14 | 16 | ||||||||||||||||||
Depreciation and amortization | 5 | 4 | 4 | ||||||||||||||||||
Impairment losses | 0 | ||||||||||||||||||||
General and administrative | 0 | 0 | 0 | ||||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | 19 | 18 | 20 | ||||||||||||||||||
Operating Income | 3 | 3 | 4 | ||||||||||||||||||
Costs and Expenses [Abstract] | |||||||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 10 | (43) | (22) | ||||||||||||||||||
Equity in earnings of unconsolidated affiliates | 9 | (2) | 0 | ||||||||||||||||||
Other income, net | 0 | 0 | 0 | ||||||||||||||||||
Interest expense | 0 | 0 | 0 | ||||||||||||||||||
Total other income (expense), net | 19 | (45) | (22) | ||||||||||||||||||
Net Income | 22 | (42) | (18) | ||||||||||||||||||
Net Income Attributable to NRG Yield LLC | 22 | (42) | (18) | ||||||||||||||||||
Net (Loss) Income Attributable to Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | 999 | 922 | 804 | [8] | |||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | 292 | 307 | 261 | [8] | |||||||||||||||||
Depreciation and amortization | 292 | 293 | 229 | [8] | |||||||||||||||||
Impairment losses | 183 | ||||||||||||||||||||
General and administrative | 0 | 0 | 0 | [8] | |||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | 767 | 600 | 490 | [8] | |||||||||||||||||
Operating Income | 232 | 322 | 314 | [8] | |||||||||||||||||
Costs and Expenses [Abstract] | |||||||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 0 | 0 | 0 | [8] | |||||||||||||||||
Equity in earnings of unconsolidated affiliates | 21 | 8 | 3 | [8] | |||||||||||||||||
Other income, net | 3 | 3 | 5 | [8] | |||||||||||||||||
Interest expense | (202) | (202) | (186) | [8] | |||||||||||||||||
Total other income (expense), net | (178) | (200) | (179) | [8] | |||||||||||||||||
Net Income | 54 | 122 | [11],[12] | 135 | [8] | ||||||||||||||||
Net Income Attributable to NRG Yield LLC | 55 | 124 | 135 | [8] | |||||||||||||||||
Net (Loss) Income Attributable to Noncontrolling Interest | (1) | (2) | 0 | [8] | |||||||||||||||||
NRG Yield Operating LLC [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | 1 | 10 | 0 | [8] | |||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | 1 | 0 | 0 | [8] | |||||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | [8] | |||||||||||||||||
Impairment losses | 0 | ||||||||||||||||||||
General and administrative | 12 | 10 | 8 | [8] | |||||||||||||||||
Acquisition-related transaction and integration costs | 1 | 3 | 4 | ||||||||||||||||||
Total operating costs and expenses | 14 | 13 | 12 | [8] | |||||||||||||||||
Operating Income | (13) | (3) | (12) | [8] | |||||||||||||||||
Costs and Expenses [Abstract] | |||||||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 66 | 123 | 139 | [8] | |||||||||||||||||
Equity in earnings of unconsolidated affiliates | 30 | 25 | 19 | [8] | |||||||||||||||||
Other income, net | 0 | 0 | 0 | [8] | |||||||||||||||||
Interest expense | (66) | (52) | (25) | [8] | |||||||||||||||||
Total other income (expense), net | 30 | 96 | 133 | [8] | |||||||||||||||||
Net Income | 17 | 93 | [11],[12] | 121 | [8] | ||||||||||||||||
Net Income Attributable to NRG Yield LLC | 159 | 144 | 118 | [8] | |||||||||||||||||
Net (Loss) Income Attributable to Noncontrolling Interest | (142) | (51) | 3 | [8] | |||||||||||||||||
Consolidation, Eliminations [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | (1) | 0 | 0 | [8],[16] | |||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | (1) | 0 | 0 | [8],[16] | |||||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Impairment losses | 0 | ||||||||||||||||||||
General and administrative | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | (1) | 0 | 0 | [8],[16] | |||||||||||||||||
Operating Income | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Costs and Expenses [Abstract] | |||||||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | (235) | (224) | (235) | [8],[16] | |||||||||||||||||
Equity in earnings of unconsolidated affiliates | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Other income, net | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Interest expense | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Total other income (expense), net | (235) | (224) | (235) | [8],[16] | |||||||||||||||||
Net Income | (235) | (224) | [11],[12],[17],[18] | (235) | [14],[19] | ||||||||||||||||
Net Income Attributable to NRG Yield LLC | (236) | [20] | (226) | (235) | [8],[16] | ||||||||||||||||
Net (Loss) Income Attributable to Noncontrolling Interest | $ 1 | $ 2 | $ 0 | [8],[16] | |||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[5] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[6] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[7] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[8] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[9] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[10] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[11] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[12] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[13] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[14] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[15] | Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[16] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[17] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[18] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[19] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[20] | All significant intercompany transactions have been eliminated in consolidation. |
Condensed Consolidating Fina100
Condensed Consolidating Financial Information CP Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | $ (139) | $ 67 | $ 81 | $ 6 | $ 20 | $ 47 | $ 50 | $ (24) | $ 15 | [3],[4] | $ 93 | [3],[4],[5] | $ 122 | [3],[4],[5] | |||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | [4] | 13 | (17) | (65) | |||||||||||||||||
Other comprehensive (loss) income | [4] | 13 | (17) | (65) | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | [4] | 28 | 76 | 57 | |||||||||||||||||
Less: Comprehensive (loss) income attributable to noncontrolling interests | [4] | (142) | (52) | 1 | |||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | [4] | 170 | 128 | 56 | |||||||||||||||||
NRG Yield LLC [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | 157 | 144 | [6],[7],[8],[9] | 119 | [10],[11] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 13 | (16) | (63) | [10],[11] | |||||||||||||||||
Other comprehensive (loss) income | 13 | (16) | (63) | [10],[11] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 170 | 128 | 56 | [10],[11] | |||||||||||||||||
Less: Comprehensive (loss) income attributable to noncontrolling interests | 0 | [12] | 0 | 0 | [10],[11] | ||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | 170 | [12] | 128 | 56 | [10],[11] | ||||||||||||||||
Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | 22 | (42) | (18) | ||||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 1 | 0 | 0 | ||||||||||||||||||
Other comprehensive (loss) income | 1 | 0 | 0 | ||||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 23 | (42) | (18) | ||||||||||||||||||
Less: Comprehensive (loss) income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | 23 | (42) | (18) | ||||||||||||||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | 54 | 122 | [8],[9] | 135 | [13] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 10 | (18) | (63) | [11] | |||||||||||||||||
Other comprehensive (loss) income | 10 | (18) | (63) | [11] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 64 | 104 | 72 | [11] | |||||||||||||||||
Less: Comprehensive (loss) income attributable to noncontrolling interests | (1) | (2) | 0 | [11] | |||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | 65 | 106 | 72 | [11] | |||||||||||||||||
NRG Yield Operating LLC [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | 17 | 93 | [8],[9] | 121 | [13] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 13 | (17) | (65) | [11] | |||||||||||||||||
Other comprehensive (loss) income | 13 | (17) | (65) | [11] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 30 | 76 | 56 | [11] | |||||||||||||||||
Less: Comprehensive (loss) income attributable to noncontrolling interests | (142) | (52) | 1 | [11] | |||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | 172 | 128 | 55 | [11] | |||||||||||||||||
Consolidation, Eliminations [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | (235) | (224) | [8],[9],[14],[15] | (235) | [11],[16] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | (24) | 34 | 126 | [11],[16] | |||||||||||||||||
Other comprehensive (loss) income | (24) | 34 | 126 | [11],[16] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | (259) | (190) | (109) | [11],[16] | |||||||||||||||||
Less: Comprehensive (loss) income attributable to noncontrolling interests | 1 | [17] | 2 | 0 | [11],[16] | ||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | $ (260) | [17] | $ (192) | $ (109) | [11],[16] | ||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[5] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[6] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[7] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[8] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[9] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[10] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[11] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[12] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[13] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[14] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[15] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[16] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[17] | (b) All significant intercompany transactions have been eliminated in consolidation. |
Condensed Consolidating Fina101
Condensed Consolidating Financial Information CP Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | [2] | $ 321 | [1] | $ 110 | [1] | $ 429 | $ 59 | ||
Restricted cash | [1] | 165 | 131 | ||||||
Accounts receivable — trade | 92 | [1] | 101 | ||||||
Accounts receivable — affiliate | [1] | 1 | 4 | ||||||
Inventory | [1] | 39 | 36 | ||||||
Derivative Asset | 2 | ||||||||
Notes receivable | [1] | 16 | 17 | ||||||
Prepayments and other current assets | [1] | 20 | 20 | ||||||
Total current assets | [1] | 656 | 419 | ||||||
Property, Plant and Equipment, Net | [1] | 5,460 | 5,878 | ||||||
Investment in consolidated subsidiaries | 0 | 0 | |||||||
Equity investments in affiliates | [1] | 1,152 | 797 | ||||||
Notes receivable | [1] | 14 | 30 | ||||||
Intangible assets, net | [1] | 1,286 | 1,362 | ||||||
Derivative Asset, Noncurrent | [1] | 1 | 0 | ||||||
Other non-current assets | [1] | 51 | 136 | ||||||
Total other assets | [1] | 2,504 | 2,325 | ||||||
Total Assets | [1] | 8,620 | 8,622 | ||||||
Current portion of long-term debt — external | [1] | 291 | 264 | ||||||
Accounts payable — trade | [1] | 23 | 23 | ||||||
Accounts payable — affiliate | [1] | 40 | 86 | ||||||
Derivative instruments | [1] | 32 | 39 | ||||||
Accrued expenses and other current liabilities | [1] | 85 | 76 | ||||||
Total current liabilities | [1] | 471 | 488 | ||||||
Other Liabilities | |||||||||
Long-term debt — external | [1] | 5,098 | 4,743 | ||||||
Long-term debt — affiliate | [1] | 618 | 618 | ||||||
Due to Related Parties, Noncurrent | [1] | 9 | 0 | ||||||
Derivative instruments | [1] | 44 | 61 | ||||||
Other non-current liabilities | [1] | 76 | 72 | ||||||
Total non-current liabilities | [1] | 5,845 | 5,494 | ||||||
Total Liabilities | [1] | 6,316 | 5,982 | ||||||
Contributed capital | [1] | 1,995 | 2,176 | ||||||
Retained earnings | [1] | 79 | 100 | ||||||
Accumulated other comprehensive loss | [1] | (83) | (96) | ||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 313 | 460 | |||||||
Total Members' Equity | [1] | 2,304 | 2,640 | ||||||
Total Liabilities and Members’ Equity | [1] | 8,620 | 8,622 | ||||||
NRG Yield LLC [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 211 | 15 | [3],[4] | 328 | [5],[6] | 3 | [5],[6] | ||
Restricted cash | 0 | 0 | |||||||
Accounts receivable — trade | 0 | 0 | |||||||
Accounts receivable — affiliate | 0 | 55 | |||||||
Inventory | 0 | 0 | |||||||
Derivative Asset | 0 | ||||||||
Notes receivable | 0 | 0 | |||||||
Prepayments and other current assets | 0 | 0 | |||||||
Total current assets | 211 | 70 | |||||||
Property, Plant and Equipment, Net | 0 | 0 | |||||||
Investment in consolidated subsidiaries | 1,780 | 2,110 | |||||||
Equity investments in affiliates | 0 | 0 | |||||||
Notes receivable | 0 | 0 | |||||||
Intangible assets, net | 0 | 0 | |||||||
Derivative Asset, Noncurrent | 0 | ||||||||
Other non-current assets | 0 | 0 | |||||||
Total other assets | 1,780 | 2,110 | |||||||
Total Assets | 1,991 | 2,180 | |||||||
Current portion of long-term debt — external | 0 | 0 | |||||||
Accounts payable — trade | 0 | 0 | |||||||
Accounts payable — affiliate | 0 | 0 | |||||||
Derivative instruments | 0 | 0 | |||||||
Accrued expenses and other current liabilities | 0 | 0 | |||||||
Total current liabilities | 0 | 0 | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 0 | 0 | |||||||
Long-term debt — affiliate | 0 | 0 | |||||||
Due to Related Parties, Noncurrent | 0 | ||||||||
Derivative instruments | 0 | 0 | |||||||
Other non-current liabilities | 0 | 0 | |||||||
Total non-current liabilities | 0 | 0 | |||||||
Total Liabilities | 0 | 0 | |||||||
Contributed capital | 1,995 | 2,176 | |||||||
Retained earnings | 79 | 100 | |||||||
Accumulated other comprehensive loss | (83) | (96) | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | 0 | |||||||
Total Members' Equity | 1,991 | 2,180 | |||||||
Total Liabilities and Members’ Equity | 1,991 | 2,180 | |||||||
Guarantor Subsidiaries [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | |||||
Restricted cash | 0 | 0 | |||||||
Accounts receivable — trade | 2 | 1 | |||||||
Accounts receivable — affiliate | 0 | 4 | |||||||
Inventory | 2 | 2 | |||||||
Derivative Asset | 0 | ||||||||
Notes receivable | 0 | 0 | |||||||
Prepayments and other current assets | 0 | 1 | |||||||
Total current assets | 4 | 8 | |||||||
Property, Plant and Equipment, Net | 59 | 61 | |||||||
Investment in consolidated subsidiaries | 527 | 548 | |||||||
Equity investments in affiliates | 171 | 128 | |||||||
Notes receivable | 0 | 0 | |||||||
Intangible assets, net | 56 | 57 | |||||||
Derivative Asset, Noncurrent | 0 | ||||||||
Other non-current assets | 0 | 0 | |||||||
Total other assets | 754 | 733 | |||||||
Total Assets | 817 | 802 | |||||||
Current portion of long-term debt — external | 0 | 0 | |||||||
Accounts payable — trade | 2 | 1 | |||||||
Accounts payable — affiliate | 7 | 8 | |||||||
Derivative instruments | 0 | 1 | |||||||
Accrued expenses and other current liabilities | 1 | 1 | |||||||
Total current liabilities | 10 | 11 | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 0 | 0 | |||||||
Long-term debt — affiliate | 0 | 0 | |||||||
Due to Related Parties, Noncurrent | 0 | ||||||||
Derivative instruments | 0 | 0 | |||||||
Other non-current liabilities | 0 | 0 | |||||||
Total non-current liabilities | 0 | 0 | |||||||
Total Liabilities | 10 | 11 | |||||||
Contributed capital | 874 | 879 | |||||||
Retained earnings | (65) | (85) | |||||||
Accumulated other comprehensive loss | (2) | (3) | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | 0 | |||||||
Total Members' Equity | 807 | 791 | |||||||
Total Liabilities and Members’ Equity | 817 | 802 | |||||||
Non-Guarantor Subsidiaries [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 110 | 95 | [4] | 101 | [6] | 36 | [6] | ||
Restricted cash | 165 | 131 | |||||||
Accounts receivable — trade | 90 | 100 | |||||||
Accounts receivable — affiliate | 1 | 6 | |||||||
Inventory | 37 | 34 | |||||||
Derivative Asset | 2 | ||||||||
Notes receivable | 16 | 17 | |||||||
Prepayments and other current assets | 19 | 19 | |||||||
Total current assets | 440 | 402 | |||||||
Property, Plant and Equipment, Net | 5,401 | 5,817 | |||||||
Investment in consolidated subsidiaries | 0 | 0 | |||||||
Equity investments in affiliates | 600 | 276 | |||||||
Notes receivable | 14 | 30 | |||||||
Intangible assets, net | 1,230 | 1,305 | |||||||
Derivative Asset, Noncurrent | 1 | ||||||||
Other non-current assets | 50 | 134 | |||||||
Total other assets | 1,895 | 1,745 | |||||||
Total Assets | 7,736 | 7,964 | |||||||
Current portion of long-term debt — external | 291 | 267 | |||||||
Accounts payable — trade | 18 | 19 | |||||||
Accounts payable — affiliate | 15 | 46 | |||||||
Derivative instruments | 32 | 38 | |||||||
Accrued expenses and other current liabilities | 60 | 58 | |||||||
Total current liabilities | 416 | 428 | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 4,259 | 3,943 | |||||||
Long-term debt — affiliate | 0 | 0 | |||||||
Due to Related Parties, Noncurrent | 9 | ||||||||
Derivative instruments | 44 | 61 | |||||||
Other non-current liabilities | 76 | 72 | |||||||
Total non-current liabilities | 4,388 | 4,076 | |||||||
Total Liabilities | 4,804 | 4,504 | |||||||
Contributed capital | 2,920 | 3,491 | |||||||
Retained earnings | 35 | (5) | |||||||
Accumulated other comprehensive loss | (87) | (97) | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 64 | 71 | |||||||
Total Members' Equity | 2,932 | 3,460 | |||||||
Total Liabilities and Members’ Equity | 7,736 | 7,964 | |||||||
NRG Yield Operating LLC [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 0 | 0 | [4] | $ 0 | [6] | $ 20 | [6] | ||
Restricted cash | 0 | 0 | |||||||
Accounts receivable — trade | 0 | 0 | |||||||
Accounts receivable — affiliate | 0 | 10 | |||||||
Inventory | 0 | 0 | |||||||
Derivative Asset | 0 | ||||||||
Notes receivable | 0 | 3 | |||||||
Prepayments and other current assets | 1 | 0 | |||||||
Total current assets | 1 | 13 | |||||||
Property, Plant and Equipment, Net | 0 | 0 | |||||||
Investment in consolidated subsidiaries | 3,212 | 3,635 | |||||||
Equity investments in affiliates | 381 | 393 | |||||||
Notes receivable | 0 | 0 | |||||||
Intangible assets, net | 0 | 0 | |||||||
Derivative Asset, Noncurrent | 0 | ||||||||
Other non-current assets | 1 | 2 | |||||||
Total other assets | 3,594 | 4,030 | |||||||
Total Assets | 3,595 | 4,043 | |||||||
Current portion of long-term debt — external | 0 | 0 | |||||||
Accounts payable — trade | 3 | 3 | |||||||
Accounts payable — affiliate | 18 | 104 | |||||||
Derivative instruments | 0 | 0 | |||||||
Accrued expenses and other current liabilities | 24 | 17 | |||||||
Total current liabilities | 45 | 124 | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 839 | 800 | |||||||
Long-term debt — affiliate | 618 | 618 | |||||||
Due to Related Parties, Noncurrent | 0 | ||||||||
Derivative instruments | 0 | 0 | |||||||
Other non-current liabilities | 0 | 0 | |||||||
Total non-current liabilities | 1,457 | 1,418 | |||||||
Total Liabilities | 1,502 | 1,542 | |||||||
Contributed capital | 1,971 | 2,108 | |||||||
Retained earnings | (108) | 100 | |||||||
Accumulated other comprehensive loss | (83) | (96) | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 313 | 389 | |||||||
Total Members' Equity | 2,093 | 2,501 | |||||||
Total Liabilities and Members’ Equity | 3,595 | 4,043 | |||||||
Consolidation, Eliminations [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 0 | 0 | |||||||
Restricted cash | 0 | 0 | |||||||
Accounts receivable — trade | 0 | 0 | |||||||
Accounts receivable — affiliate | 0 | (71) | |||||||
Inventory | 0 | 0 | |||||||
Derivative Asset | 0 | ||||||||
Notes receivable | 0 | (3) | |||||||
Prepayments and other current assets | 0 | 0 | |||||||
Total current assets | 0 | (74) | |||||||
Property, Plant and Equipment, Net | 0 | 0 | |||||||
Investment in consolidated subsidiaries | (5,519) | (6,293) | |||||||
Equity investments in affiliates | 0 | 0 | |||||||
Notes receivable | 0 | 0 | |||||||
Intangible assets, net | 0 | 0 | |||||||
Derivative Asset, Noncurrent | 0 | ||||||||
Other non-current assets | 0 | 0 | |||||||
Total other assets | (5,519) | (6,293) | |||||||
Total Assets | (5,519) | (6,367) | |||||||
Current portion of long-term debt — external | 0 | (3) | |||||||
Accounts payable — trade | 0 | 0 | |||||||
Accounts payable — affiliate | 0 | (72) | |||||||
Derivative instruments | 0 | 0 | |||||||
Accrued expenses and other current liabilities | 0 | 0 | |||||||
Total current liabilities | 0 | (75) | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 0 | 0 | |||||||
Long-term debt — affiliate | 0 | 0 | |||||||
Due to Related Parties, Noncurrent | 0 | ||||||||
Derivative instruments | 0 | 0 | |||||||
Other non-current liabilities | 0 | 0 | |||||||
Total non-current liabilities | 0 | 0 | |||||||
Total Liabilities | 0 | (75) | |||||||
Contributed capital | (5,765) | (6,478) | |||||||
Retained earnings | 138 | (10) | |||||||
Accumulated other comprehensive loss | 172 | 196 | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | (64) | 0 | |||||||
Total Members' Equity | (5,519) | (6,292) | |||||||
Total Liabilities and Members’ Equity | $ (5,519) | $ (6,367) | |||||||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[3] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||
[4] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[5] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||
[6] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Condensed Consolidating Fina102
Condensed Consolidating Financial Information CP Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||||
Net Cash Provided by Operating Activities | [1] | $ 569 | $ 421 | $ 362 | |||||
Intercompany transactions between Yield LLC and subsidiaries | 0 | 0 | 0 | ||||||
Acquisition of Drop Down Assets, net of cash acquired | [1] | (77) | [2] | (698) | (311) | ||||
Capital expenditures | [1] | (20) | (29) | (60) | |||||
Increase (Decrease) in Restricted Cash | [1] | (34) | (1) | 25 | |||||
Cash receipts from notes receivable | [1] | 17 | 17 | 14 | |||||
Return of investment from unconsolidated affiliates | [1] | 28 | 42 | 4 | |||||
Investments in unconsolidated affiliates | [1] | (83) | (402) | (2) | |||||
Other | [1] | 4 | 0 | 11 | |||||
Net Cash Used in Investing Activities | [1] | (165) | (1,108) | (741) | |||||
Payments of Capital Distribution | [1] | (170) | (76) | (333) | |||||
Transfer of funds under intercompany cash management arrangement | 0 | 0 | 0 | ||||||
Proceeds from Noncontrolling Interests | 5 | 122 | 190 | ||||||
Payments of (Proceeds from) distributions | (183) | (139) | (101) | ||||||
Proceeds from the revolving credit facility | [1] | 60 | 551 | 500 | |||||
Repayments of Lines of Credit | [1] | (366) | (245) | 0 | |||||
Proceeds from issuance of long-term debt — external | [1] | 740 | 6 | 178 | |||||
Payments of debt issuance costs | [1] | (15) | (7) | (28) | |||||
Payments for long-term debt — external | [1] | (264) | (724) | (626) | |||||
Net Cash (Used in) Provided by Financing Activities | [1] | (193) | 368 | 749 | |||||
Cash and Cash Equivalents, Period Increase (Decrease) | [1] | 211 | (319) | 370 | |||||
Cash and cash equivalents | [1] | 321 | [3] | 110 | [3] | 429 | $ 59 | ||
NRG Yield LLC [Member] | |||||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||||
Net Cash Provided by Operating Activities | 0 | 0 | 0 | [4],[5] | |||||
Intercompany transactions between Yield LLC and subsidiaries | 325 | (464) | (530) | ||||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | 0 | |||||||
Capital expenditures | 0 | 0 | 0 | [4],[5] | |||||
Increase (Decrease) in Restricted Cash | 0 | 0 | 0 | [4],[5] | |||||
Cash receipts from notes receivable | 0 | 0 | 0 | [4],[5] | |||||
Return of investment from unconsolidated affiliates | 0 | 0 | 0 | [4],[5] | |||||
Investments in unconsolidated affiliates | 0 | 0 | |||||||
Other | 0 | 0 | |||||||
Net Cash Used in Investing Activities | 325 | (464) | [2],[6] | (530) | [4],[5] | ||||
Payments of Capital Distribution | 0 | 0 | 0 | [4],[5] | |||||
Transfer of funds under intercompany cash management arrangement | 54 | (309) | 326 | [4],[5] | |||||
Proceeds from Noncontrolling Interests | 0 | 0 | 0 | ||||||
Payments of (Proceeds from) distributions | (183) | (139) | (101) | [4],[5] | |||||
Proceeds from the revolving credit facility | 0 | 0 | |||||||
Repayments of Lines of Credit | 0 | 0 | |||||||
Proceeds from issuance of long-term debt — external | 0 | 0 | 0 | [4],[5] | |||||
Payments of debt issuance costs | 0 | 0 | |||||||
Payments for long-term debt — external | 0 | 0 | |||||||
Net Cash (Used in) Provided by Financing Activities | (129) | [7] | 151 | [2],[6] | 855 | [4],[5] | |||
Cash and Cash Equivalents, Period Increase (Decrease) | 196 | (313) | [2],[6] | 325 | [4],[5] | ||||
Cash and cash equivalents | 211 | 15 | [2],[6] | 328 | [4],[5] | 3 | [4],[5] | ||
Guarantor Subsidiaries [Member] | |||||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||||
Net Cash Provided by Operating Activities | 62 | 19 | 12 | ||||||
Intercompany transactions between Yield LLC and subsidiaries | 0 | 0 | 0 | ||||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | 0 | |||||||
Capital expenditures | 0 | 0 | 0 | ||||||
Increase (Decrease) in Restricted Cash | 0 | 0 | 0 | ||||||
Cash receipts from notes receivable | 0 | 0 | 0 | ||||||
Return of investment from unconsolidated affiliates | 16 | 0 | 0 | ||||||
Investments in unconsolidated affiliates | (80) | (28) | |||||||
Other | 0 | 0 | |||||||
Net Cash Used in Investing Activities | (64) | (28) | 0 | ||||||
Payments of Capital Distribution | 0 | 0 | 0 | ||||||
Transfer of funds under intercompany cash management arrangement | 2 | 9 | (12) | ||||||
Proceeds from Noncontrolling Interests | 0 | 0 | 0 | ||||||
Payments of (Proceeds from) distributions | 0 | 0 | 0 | ||||||
Proceeds from the revolving credit facility | 0 | 0 | |||||||
Repayments of Lines of Credit | 0 | 0 | |||||||
Proceeds from issuance of long-term debt — external | 0 | 0 | 0 | ||||||
Payments of debt issuance costs | 0 | 0 | |||||||
Payments for long-term debt — external | 0 | 0 | |||||||
Net Cash (Used in) Provided by Financing Activities | 2 | 9 | (12) | ||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | 0 | ||||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | |||||
Non-Guarantor Subsidiaries [Member] | |||||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||||
Net Cash Provided by Operating Activities | 546 | 420 | 357 | [5] | |||||
Intercompany transactions between Yield LLC and subsidiaries | (21) | 285 | 36 | ||||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | 46 | |||||||
Capital expenditures | (20) | (29) | (60) | [5] | |||||
Increase (Decrease) in Restricted Cash | (34) | (1) | 25 | [5] | |||||
Cash receipts from notes receivable | 17 | 17 | 12 | [5] | |||||
Return of investment from unconsolidated affiliates | 0 | 0 | 0 | [5] | |||||
Investments in unconsolidated affiliates | (3) | 0 | |||||||
Other | 4 | 11 | |||||||
Net Cash Used in Investing Activities | (57) | 272 | [2] | 547 | [5] | ||||
Payments of Capital Distribution | (170) | (76) | (333) | [5] | |||||
Transfer of funds under intercompany cash management arrangement | 0 | 0 | 0 | [5] | |||||
Proceeds from Noncontrolling Interests | 0 | 0 | 190 | ||||||
Payments of (Proceeds from) distributions | (420) | (392) | (232) | [5] | |||||
Proceeds from the revolving credit facility | 0 | 0 | |||||||
Repayments of Lines of Credit | 0 | 0 | |||||||
Proceeds from issuance of long-term debt — external | 390 | 6 | 178 | [5] | |||||
Payments of debt issuance costs | (10) | (6) | |||||||
Payments for long-term debt — external | (264) | (230) | |||||||
Net Cash (Used in) Provided by Financing Activities | (474) | (698) | [2] | (839) | [5] | ||||
Cash and Cash Equivalents, Period Increase (Decrease) | 15 | (6) | [2] | 65 | [5] | ||||
Cash and cash equivalents | 110 | 95 | [2] | 101 | [5] | 36 | [5] | ||
NRG Yield Operating LLC [Member] | |||||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||||
Net Cash Provided by Operating Activities | (39) | (18) | (7) | [5] | |||||
Intercompany transactions between Yield LLC and subsidiaries | (304) | 179 | 494 | ||||||
Acquisition of Drop Down Assets, net of cash acquired | (77) | (698) | (357) | ||||||
Capital expenditures | 0 | 0 | 0 | [5] | |||||
Increase (Decrease) in Restricted Cash | 0 | 0 | 0 | [5] | |||||
Cash receipts from notes receivable | 0 | 0 | 2 | [5] | |||||
Return of investment from unconsolidated affiliates | 12 | 42 | 4 | [5] | |||||
Investments in unconsolidated affiliates | 0 | (374) | |||||||
Other | 0 | 0 | |||||||
Net Cash Used in Investing Activities | (369) | (888) | [2] | (758) | [5] | ||||
Payments of Capital Distribution | 0 | 0 | 0 | [5] | |||||
Transfer of funds under intercompany cash management arrangement | (56) | 300 | (314) | [5] | |||||
Proceeds from Noncontrolling Interests | 5 | 122 | 0 | ||||||
Payments of (Proceeds from) distributions | 420 | 392 | 232 | [5] | |||||
Proceeds from the revolving credit facility | 60 | 551 | |||||||
Repayments of Lines of Credit | (366) | (245) | |||||||
Proceeds from issuance of long-term debt — external | 350 | 0 | 0 | [5] | |||||
Payments of debt issuance costs | (5) | (1) | |||||||
Payments for long-term debt — external | 0 | (494) | |||||||
Net Cash (Used in) Provided by Financing Activities | 408 | 906 | [2] | 745 | [5] | ||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | [2] | (20) | [5] | ||||
Cash and cash equivalents | $ 0 | $ 0 | [2] | $ 0 | [5] | $ 20 | [5] | ||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[2] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[4] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||
[5] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[6] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||
[7] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. |
Condensed Consolidating Fina103
Condensed Consolidating Financial Information PP Income Statement (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | $ 232 | $ 272 | $ 283 | $ 234 | $ 224 | $ 256 | $ 259 | $ 214 | $ 1,021 | [3] | $ 953 | [3] | $ 828 | [3] | |||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | [3] | 306 | 321 | 277 | |||||||||||||||||
Depreciation and amortization | [3] | 297 | 297 | 233 | |||||||||||||||||
General and administrative | [3] | 14 | 10 | 8 | |||||||||||||||||
Acquisition-related transaction and integration costs | [3] | 1 | 3 | 4 | |||||||||||||||||
Total operating costs and expenses | [3] | 801 | 631 | 522 | |||||||||||||||||
Operating Income | (99) | 118 | 128 | 73 | 71 | 102 | 99 | 50 | 220 | [3] | 322 | [3] | 306 | [3] | |||||||
Equity in earnings (losses) of consolidated affiliates | 0 | 0 | 0 | ||||||||||||||||||
Equity in earnings of unconsolidated affiliates | [3],[4] | 60 | 31 | 22 | |||||||||||||||||
Loss on debt extinguishment | [3],[4] | 0 | (9) | (1) | |||||||||||||||||
Other income, net | [3] | 3 | 3 | 6 | |||||||||||||||||
Interest expense | [3] | (268) | (254) | (211) | |||||||||||||||||
Total other income (expense), net | [3] | (205) | (229) | (184) | |||||||||||||||||
Net Income | $ (139) | $ 67 | $ 81 | $ 6 | $ 20 | $ 47 | $ 50 | $ (24) | 15 | [3],[5] | 93 | [3],[5],[6] | 122 | [3],[5],[6] | |||||||
Net Income (Loss) Attributable to Noncontrolling Interest | [3] | (142) | (51) | 3 | |||||||||||||||||
Net Income Attributable to NRG Yield LLC | [3] | 157 | 144 | 119 | |||||||||||||||||
NRG Yield LLC [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
General and administrative | 2 | 0 | 0 | [7],[8] | |||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | 2 | 0 | 0 | [7],[8] | |||||||||||||||||
Operating Income | (2) | 0 | 0 | [7],[8] | |||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 159 | 144 | 118 | [7],[8] | |||||||||||||||||
Equity in earnings of unconsolidated affiliates | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Loss on debt extinguishment | 0 | 0 | |||||||||||||||||||
Other income, net | 0 | 0 | 1 | [7],[8] | |||||||||||||||||
Interest expense | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Total other income (expense), net | 159 | 144 | 119 | [7],[8] | |||||||||||||||||
Net Income | 157 | 144 | [9],[10],[11],[12] | 119 | [13],[14] | ||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | [15] | 0 | 0 | [7],[8] | ||||||||||||||||
Net Income Attributable to NRG Yield LLC | 157 | [15] | 144 | 119 | [7],[8] | ||||||||||||||||
Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | 22 | 21 | 24 | [7],[8] | |||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | 14 | 14 | 16 | ||||||||||||||||||
Depreciation and amortization | 5 | 4 | 4 | ||||||||||||||||||
General and administrative | 0 | 0 | 0 | ||||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | 19 | 18 | 20 | ||||||||||||||||||
Operating Income | 3 | 3 | 4 | ||||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 10 | (43) | (22) | ||||||||||||||||||
Equity in earnings of unconsolidated affiliates | 9 | (2) | 0 | ||||||||||||||||||
Loss on debt extinguishment | 0 | 0 | |||||||||||||||||||
Other income, net | 0 | 0 | 0 | ||||||||||||||||||
Interest expense | 0 | 0 | 0 | ||||||||||||||||||
Total other income (expense), net | 19 | (45) | (22) | ||||||||||||||||||
Net Income | 22 | (42) | (18) | ||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||||
Net Income Attributable to NRG Yield LLC | 22 | (42) | (18) | ||||||||||||||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | 999 | 922 | 804 | [8] | |||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | 292 | 307 | 261 | [8] | |||||||||||||||||
Depreciation and amortization | 292 | 293 | 229 | [8] | |||||||||||||||||
General and administrative | 0 | 0 | 0 | [8] | |||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | 767 | 600 | 490 | [8] | |||||||||||||||||
Operating Income | 232 | 322 | 314 | [8] | |||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 0 | 0 | 0 | [8] | |||||||||||||||||
Equity in earnings of unconsolidated affiliates | 21 | 8 | 3 | [8] | |||||||||||||||||
Loss on debt extinguishment | (9) | (1) | |||||||||||||||||||
Other income, net | 3 | 3 | 5 | [8] | |||||||||||||||||
Interest expense | (202) | (202) | (186) | [8] | |||||||||||||||||
Total other income (expense), net | (178) | (200) | (179) | [8] | |||||||||||||||||
Net Income | 54 | 122 | [11],[12] | 135 | [8] | ||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | (1) | (2) | 0 | [8] | |||||||||||||||||
Net Income Attributable to NRG Yield LLC | 55 | 124 | 135 | [8] | |||||||||||||||||
NRG Yield Operating LLC [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | 1 | 10 | 0 | [8] | |||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | 1 | 0 | 0 | [8] | |||||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | [8] | |||||||||||||||||
General and administrative | 12 | 10 | 8 | [8] | |||||||||||||||||
Acquisition-related transaction and integration costs | 1 | 3 | 4 | ||||||||||||||||||
Total operating costs and expenses | 14 | 13 | 12 | [8] | |||||||||||||||||
Operating Income | (13) | (3) | (12) | [8] | |||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 66 | 123 | 139 | [8] | |||||||||||||||||
Equity in earnings of unconsolidated affiliates | 30 | 25 | 19 | [8] | |||||||||||||||||
Loss on debt extinguishment | 0 | 0 | |||||||||||||||||||
Other income, net | 0 | 0 | 0 | [8] | |||||||||||||||||
Interest expense | (66) | (52) | (25) | [8] | |||||||||||||||||
Total other income (expense), net | 30 | 96 | 133 | [8] | |||||||||||||||||
Net Income | 17 | 93 | [11],[12] | 121 | [8] | ||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | (142) | (51) | 3 | [8] | |||||||||||||||||
Net Income Attributable to NRG Yield LLC | 159 | 144 | 118 | [8] | |||||||||||||||||
Consolidation, Eliminations [Member] | |||||||||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||||||||
Total operating revenues | (1) | 0 | 0 | [8],[16] | |||||||||||||||||
Operating Costs and Expenses [Abstract] | |||||||||||||||||||||
Cost of operations | (1) | 0 | 0 | [8],[16] | |||||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
General and administrative | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Acquisition-related transaction and integration costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | (1) | 0 | 0 | [8],[16] | |||||||||||||||||
Operating Income | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | (235) | (224) | (235) | [8],[16] | |||||||||||||||||
Equity in earnings of unconsolidated affiliates | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Loss on debt extinguishment | 0 | 0 | |||||||||||||||||||
Other income, net | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Interest expense | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Total other income (expense), net | (235) | (224) | (235) | [8],[16] | |||||||||||||||||
Net Income | (235) | (224) | [11],[12],[17],[18] | (235) | [14],[19] | ||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 1 | 2 | 0 | [8],[16] | |||||||||||||||||
Net Income Attributable to NRG Yield LLC | $ (236) | [20] | $ (226) | $ (235) | [8],[16] | ||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[5] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[6] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[7] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[8] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[9] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[10] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[11] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[12] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[13] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[14] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[15] | Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[16] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[17] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[18] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[19] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[20] | All significant intercompany transactions have been eliminated in consolidation. |
Condensed Consolidating Fina104
Condensed Consolidating Financial Information PP Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | $ (139) | $ 67 | $ 81 | $ 6 | $ 20 | $ 47 | $ 50 | $ (24) | $ 15 | [3],[4] | $ 93 | [3],[4],[5] | $ 122 | [3],[4],[5] | |||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | [4] | 13 | (17) | (65) | |||||||||||||||||
Other comprehensive (loss) income | [4] | 13 | (17) | (65) | |||||||||||||||||
Comprehensive Income | [4] | 28 | 76 | 57 | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | [4] | (142) | (52) | 1 | |||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | [4] | 170 | 128 | 56 | |||||||||||||||||
NRG Yield LLC [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | 157 | 144 | [6],[7],[8],[9] | 119 | [10],[11] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 13 | (16) | (63) | [10],[11] | |||||||||||||||||
Other comprehensive (loss) income | 13 | (16) | (63) | [10],[11] | |||||||||||||||||
Comprehensive Income | 170 | 128 | 56 | [10],[11] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 0 | [12] | 0 | 0 | [10],[11] | ||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | 170 | [12] | 128 | 56 | [10],[11] | ||||||||||||||||
Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | 22 | (42) | (18) | ||||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 1 | 0 | 0 | ||||||||||||||||||
Other comprehensive (loss) income | 1 | 0 | 0 | ||||||||||||||||||
Comprehensive Income | 23 | (42) | (18) | ||||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | 23 | (42) | (18) | ||||||||||||||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | 54 | 122 | [8],[9] | 135 | [13] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 10 | (18) | (63) | [11] | |||||||||||||||||
Other comprehensive (loss) income | 10 | (18) | (63) | [11] | |||||||||||||||||
Comprehensive Income | 64 | 104 | 72 | [11] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | (1) | (2) | 0 | [11] | |||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | 65 | 106 | 72 | [11] | |||||||||||||||||
NRG Yield Operating LLC [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | 17 | 93 | [8],[9] | 121 | [13] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 13 | (17) | (65) | [11] | |||||||||||||||||
Other comprehensive (loss) income | 13 | (17) | (65) | [11] | |||||||||||||||||
Comprehensive Income | 30 | 76 | 56 | [11] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | (142) | (52) | 1 | [11] | |||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | 172 | 128 | 55 | [11] | |||||||||||||||||
Consolidation, Eliminations [Member] | |||||||||||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||||||||||
Net Income (Loss) | (235) | (224) | [8],[9],[14],[15] | (235) | [11],[16] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | (24) | 34 | 126 | [11],[16] | |||||||||||||||||
Other comprehensive (loss) income | (24) | 34 | 126 | [11],[16] | |||||||||||||||||
Comprehensive Income | (259) | (190) | (109) | [11],[16] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 1 | [17] | 2 | 0 | [11],[16] | ||||||||||||||||
Comprehensive Income Attributable to NRG Yield LLC | $ (260) | [17] | $ (192) | $ (109) | [11],[16] | ||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[5] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[6] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[7] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[8] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[9] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[10] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[11] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[12] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[13] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[14] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[15] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[16] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[17] | (b) All significant intercompany transactions have been eliminated in consolidation. |
Condensed Consolidating Fina105
Condensed Consolidating Financial Information PP Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | [2] | $ 321 | [1] | $ 110 | [1] | $ 429 | $ 59 | ||
Restricted cash | [1] | 165 | 131 | ||||||
Accounts receivable — trade | 92 | [1] | 101 | ||||||
Accounts receivable — affiliate | [1] | 1 | 4 | ||||||
Inventory | [1] | 39 | 36 | ||||||
Notes receivable | [1] | 16 | 17 | ||||||
Prepayments and other current assets | [1] | 20 | 20 | ||||||
Total current assets | [1] | 656 | 419 | ||||||
Property, Plant and Equipment, Net | [1] | 5,460 | 5,878 | ||||||
Investment in consolidated subsidiaries | 0 | 0 | |||||||
Equity investments in affiliates | [1] | 1,152 | 797 | ||||||
Notes receivable | [1] | 14 | 30 | ||||||
Intangible assets, net | [1] | 1,286 | 1,362 | ||||||
Other non-current assets | [1] | 51 | 136 | ||||||
Total other assets | [1] | 2,504 | 2,325 | ||||||
Total Assets | [1] | 8,620 | 8,622 | ||||||
Current portion of long-term debt — external | [1] | 291 | 264 | ||||||
Accounts payable — trade | [1] | 23 | 23 | ||||||
Accounts payable — affiliate | [1] | 40 | 86 | ||||||
Derivative instruments | [1] | 32 | 39 | ||||||
Accrued expenses and other current liabilities | [1] | 85 | 76 | ||||||
Total current liabilities | [1] | 471 | 488 | ||||||
Other Liabilities | |||||||||
Long-term debt — external | [1] | 5,098 | 4,743 | ||||||
Long-term debt — affiliate | [1] | 618 | 618 | ||||||
Derivative instruments | [1] | 44 | 61 | ||||||
Other non-current liabilities | [1] | 76 | 72 | ||||||
Total non-current liabilities | [1] | 5,845 | 5,494 | ||||||
Total Liabilities | [1] | 6,316 | 5,982 | ||||||
Contributed capital | [1] | 1,995 | 2,176 | ||||||
Retained earnings | [1] | 79 | 100 | ||||||
Accumulated other comprehensive loss | [1] | (83) | (96) | ||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 313 | 460 | |||||||
Total Members' Equity | [1] | 2,304 | 2,640 | ||||||
Total Liabilities and Members’ Equity | [1] | 8,620 | 8,622 | ||||||
NRG Yield LLC [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 211 | 15 | [3],[4] | 328 | [5],[6] | 3 | [5],[6] | ||
Restricted cash | 0 | 0 | |||||||
Accounts receivable — trade | 0 | 0 | |||||||
Accounts receivable — affiliate | 0 | 55 | |||||||
Inventory | 0 | 0 | |||||||
Notes receivable | 0 | 0 | |||||||
Prepayments and other current assets | 0 | 0 | |||||||
Total current assets | 211 | 70 | |||||||
Property, Plant and Equipment, Net | 0 | 0 | |||||||
Investment in consolidated subsidiaries | 1,780 | 2,110 | |||||||
Equity investments in affiliates | 0 | 0 | |||||||
Notes receivable | 0 | 0 | |||||||
Intangible assets, net | 0 | 0 | |||||||
Other non-current assets | 0 | 0 | |||||||
Total other assets | 1,780 | 2,110 | |||||||
Total Assets | 1,991 | 2,180 | |||||||
Current portion of long-term debt — external | 0 | 0 | |||||||
Accounts payable — trade | 0 | 0 | |||||||
Accounts payable — affiliate | 0 | 0 | |||||||
Derivative instruments | 0 | 0 | |||||||
Accrued expenses and other current liabilities | 0 | 0 | |||||||
Total current liabilities | 0 | 0 | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 0 | 0 | |||||||
Long-term debt — affiliate | 0 | 0 | |||||||
Derivative instruments | 0 | 0 | |||||||
Other non-current liabilities | 0 | 0 | |||||||
Total non-current liabilities | 0 | 0 | |||||||
Total Liabilities | 0 | 0 | |||||||
Contributed capital | 1,995 | 2,176 | |||||||
Retained earnings | 79 | 100 | |||||||
Accumulated other comprehensive loss | (83) | (96) | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | 0 | |||||||
Total Members' Equity | 1,991 | 2,180 | |||||||
Total Liabilities and Members’ Equity | 1,991 | 2,180 | |||||||
Guarantor Subsidiaries [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | |||||
Restricted cash | 0 | 0 | |||||||
Accounts receivable — trade | 2 | 1 | |||||||
Accounts receivable — affiliate | 0 | 4 | |||||||
Inventory | 2 | 2 | |||||||
Notes receivable | 0 | 0 | |||||||
Prepayments and other current assets | 0 | 1 | |||||||
Total current assets | 4 | 8 | |||||||
Property, Plant and Equipment, Net | 59 | 61 | |||||||
Investment in consolidated subsidiaries | 527 | 548 | |||||||
Equity investments in affiliates | 171 | 128 | |||||||
Notes receivable | 0 | 0 | |||||||
Intangible assets, net | 56 | 57 | |||||||
Other non-current assets | 0 | 0 | |||||||
Total other assets | 754 | 733 | |||||||
Total Assets | 817 | 802 | |||||||
Current portion of long-term debt — external | 0 | 0 | |||||||
Accounts payable — trade | 2 | 1 | |||||||
Accounts payable — affiliate | 7 | 8 | |||||||
Derivative instruments | 0 | 1 | |||||||
Accrued expenses and other current liabilities | 1 | 1 | |||||||
Total current liabilities | 10 | 11 | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 0 | 0 | |||||||
Long-term debt — affiliate | 0 | 0 | |||||||
Derivative instruments | 0 | 0 | |||||||
Other non-current liabilities | 0 | 0 | |||||||
Total non-current liabilities | 0 | 0 | |||||||
Total Liabilities | 10 | 11 | |||||||
Contributed capital | 874 | 879 | |||||||
Retained earnings | (65) | (85) | |||||||
Accumulated other comprehensive loss | (2) | (3) | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | 0 | |||||||
Total Members' Equity | 807 | 791 | |||||||
Total Liabilities and Members’ Equity | 817 | 802 | |||||||
Non-Guarantor Subsidiaries [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 110 | 95 | [4] | 101 | [6] | 36 | [6] | ||
Restricted cash | 165 | 131 | |||||||
Accounts receivable — trade | 90 | 100 | |||||||
Accounts receivable — affiliate | 1 | 6 | |||||||
Inventory | 37 | 34 | |||||||
Notes receivable | 16 | 17 | |||||||
Prepayments and other current assets | 19 | 19 | |||||||
Total current assets | 440 | 402 | |||||||
Property, Plant and Equipment, Net | 5,401 | 5,817 | |||||||
Investment in consolidated subsidiaries | 0 | 0 | |||||||
Equity investments in affiliates | 600 | 276 | |||||||
Notes receivable | 14 | 30 | |||||||
Intangible assets, net | 1,230 | 1,305 | |||||||
Other non-current assets | 50 | 134 | |||||||
Total other assets | 1,895 | 1,745 | |||||||
Total Assets | 7,736 | 7,964 | |||||||
Current portion of long-term debt — external | 291 | 267 | |||||||
Accounts payable — trade | 18 | 19 | |||||||
Accounts payable — affiliate | 15 | 46 | |||||||
Derivative instruments | 32 | 38 | |||||||
Accrued expenses and other current liabilities | 60 | 58 | |||||||
Total current liabilities | 416 | 428 | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 4,259 | 3,943 | |||||||
Long-term debt — affiliate | 0 | 0 | |||||||
Derivative instruments | 44 | 61 | |||||||
Other non-current liabilities | 76 | 72 | |||||||
Total non-current liabilities | 4,388 | 4,076 | |||||||
Total Liabilities | 4,804 | 4,504 | |||||||
Contributed capital | 2,920 | 3,491 | |||||||
Retained earnings | 35 | (5) | |||||||
Accumulated other comprehensive loss | (87) | (97) | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 64 | 71 | |||||||
Total Members' Equity | 2,932 | 3,460 | |||||||
Total Liabilities and Members’ Equity | 7,736 | 7,964 | |||||||
NRG Yield Operating LLC [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 0 | 0 | [4] | $ 0 | [6] | $ 20 | [6] | ||
Restricted cash | 0 | 0 | |||||||
Accounts receivable — trade | 0 | 0 | |||||||
Accounts receivable — affiliate | 0 | 10 | |||||||
Inventory | 0 | 0 | |||||||
Notes receivable | 0 | 3 | |||||||
Prepayments and other current assets | 1 | 0 | |||||||
Total current assets | 1 | 13 | |||||||
Property, Plant and Equipment, Net | 0 | 0 | |||||||
Investment in consolidated subsidiaries | 3,212 | 3,635 | |||||||
Equity investments in affiliates | 381 | 393 | |||||||
Notes receivable | 0 | 0 | |||||||
Intangible assets, net | 0 | 0 | |||||||
Other non-current assets | 1 | 2 | |||||||
Total other assets | 3,594 | 4,030 | |||||||
Total Assets | 3,595 | 4,043 | |||||||
Current portion of long-term debt — external | 0 | 0 | |||||||
Accounts payable — trade | 3 | 3 | |||||||
Accounts payable — affiliate | 18 | 104 | |||||||
Derivative instruments | 0 | 0 | |||||||
Accrued expenses and other current liabilities | 24 | 17 | |||||||
Total current liabilities | 45 | 124 | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 839 | 800 | |||||||
Long-term debt — affiliate | 618 | 618 | |||||||
Derivative instruments | 0 | 0 | |||||||
Other non-current liabilities | 0 | 0 | |||||||
Total non-current liabilities | 1,457 | 1,418 | |||||||
Total Liabilities | 1,502 | 1,542 | |||||||
Contributed capital | 1,971 | 2,108 | |||||||
Retained earnings | (108) | 100 | |||||||
Accumulated other comprehensive loss | (83) | (96) | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 313 | 389 | |||||||
Total Members' Equity | 2,093 | 2,501 | |||||||
Total Liabilities and Members’ Equity | 3,595 | 4,043 | |||||||
Consolidation, Eliminations [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Cash and cash equivalents | 0 | 0 | |||||||
Restricted cash | 0 | 0 | |||||||
Accounts receivable — trade | 0 | 0 | |||||||
Accounts receivable — affiliate | 0 | (71) | |||||||
Inventory | 0 | 0 | |||||||
Notes receivable | 0 | (3) | |||||||
Prepayments and other current assets | 0 | 0 | |||||||
Total current assets | 0 | (74) | |||||||
Property, Plant and Equipment, Net | 0 | 0 | |||||||
Investment in consolidated subsidiaries | (5,519) | (6,293) | |||||||
Equity investments in affiliates | 0 | 0 | |||||||
Notes receivable | 0 | 0 | |||||||
Intangible assets, net | 0 | 0 | |||||||
Other non-current assets | 0 | 0 | |||||||
Total other assets | (5,519) | (6,293) | |||||||
Total Assets | (5,519) | (6,367) | |||||||
Current portion of long-term debt — external | 0 | (3) | |||||||
Accounts payable — trade | 0 | 0 | |||||||
Accounts payable — affiliate | 0 | (72) | |||||||
Derivative instruments | 0 | 0 | |||||||
Accrued expenses and other current liabilities | 0 | 0 | |||||||
Total current liabilities | 0 | (75) | |||||||
Other Liabilities | |||||||||
Long-term debt — external | 0 | 0 | |||||||
Long-term debt — affiliate | 0 | 0 | |||||||
Derivative instruments | 0 | 0 | |||||||
Other non-current liabilities | 0 | 0 | |||||||
Total non-current liabilities | 0 | 0 | |||||||
Total Liabilities | 0 | (75) | |||||||
Contributed capital | (5,765) | (6,478) | |||||||
Retained earnings | 138 | (10) | |||||||
Accumulated other comprehensive loss | 172 | 196 | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest | (64) | 0 | |||||||
Total Members' Equity | (5,519) | (6,292) | |||||||
Total Liabilities and Members’ Equity | $ (5,519) | $ (6,367) | |||||||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[2] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[3] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||
[4] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[5] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||
[6] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. |
Condensed Consolidating Fina106
Condensed Consolidating Financial Information PP Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||
Net Cash Provided by Operating Activities | [1] | $ 569 | $ 421 | $ 362 | |||
Acquisition of businesses, net of cash acquired | [1] | 0 | 37 | 901 | |||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | 0 | 0 | 0 | ||||
Acquisition of Drop Down Assets, net of cash acquired | [1] | 77 | [2] | 698 | 311 | ||
Capital expenditures | [1] | (20) | (29) | (60) | |||
Increase (Decrease) in Restricted Cash | [1] | (34) | (1) | 25 | |||
Cash receipts from notes receivable | [1] | 17 | 17 | 14 | |||
Return of investment from unconsolidated affiliates | [1] | 28 | 42 | 4 | |||
Investments in unconsolidated affiliates | [1] | (83) | (402) | (2) | |||
Net Cash Used in Investing Activities | [1] | (165) | (1,108) | (741) | |||
Transfer of funds under intercompany cash management arrangement | 0 | 0 | 0 | ||||
Proceeds from Noncontrolling Interests | 5 | 122 | 190 | ||||
Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets | [1] | (170) | (76) | (333) | |||
Proceeds from the issuance of class A and class C units | [1] | 0 | 599 | 630 | |||
Payments of (Proceeds from) distributions | (183) | (139) | (101) | ||||
Proceeds from the revolving credit facility | [1] | 60 | 551 | 500 | |||
Repayments of Lines of Credit | [1] | (366) | (245) | 0 | |||
Proceeds from issuance of long-term debt — external | [1] | 740 | 6 | 178 | |||
Proceeds from issuance of long-term debt — affiliate | [1] | 0 | 281 | 337 | |||
Payments of debt issuance costs | [1] | (15) | (7) | (28) | |||
Payments for long-term debt — external | [1] | (264) | (724) | (626) | |||
Net Cash (Used in) Provided by Financing Activities | [1] | (193) | 368 | 749 | |||
Cash and Cash Equivalents, Period Increase (Decrease) | [1] | 211 | (319) | 370 | |||
Cash and Cash Equivalents at Beginning of Period | [1] | 110 | [3] | 429 | 59 | ||
Cash and Cash Equivalents at End of Period | [1] | 321 | [3] | 110 | [3] | 429 | |
NRG Yield LLC [Member] | |||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||
Net Cash Provided by Operating Activities | 0 | 0 | 0 | [4],[5] | |||
Acquisition of businesses, net of cash acquired | 0 | 0 | |||||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | 325 | (464) | (530) | ||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | 0 | |||||
Capital expenditures | 0 | 0 | 0 | [4],[5] | |||
Increase (Decrease) in Restricted Cash | 0 | 0 | 0 | [4],[5] | |||
Cash receipts from notes receivable | 0 | 0 | 0 | [4],[5] | |||
Return of investment from unconsolidated affiliates | 0 | 0 | 0 | [4],[5] | |||
Investments in unconsolidated affiliates | 0 | 0 | |||||
Net Cash Used in Investing Activities | 325 | (464) | [2],[6] | (530) | [4],[5] | ||
Transfer of funds under intercompany cash management arrangement | 54 | (309) | 326 | [4],[5] | |||
Proceeds from Noncontrolling Interests | 0 | 0 | 0 | ||||
Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets | 0 | 0 | 0 | [4],[5] | |||
Proceeds from the issuance of class A and class C units | 599 | 630 | [4],[5] | ||||
Payments of (Proceeds from) distributions | (183) | (139) | (101) | [4],[5] | |||
Proceeds from the revolving credit facility | 0 | 0 | |||||
Repayments of Lines of Credit | 0 | 0 | |||||
Proceeds from issuance of long-term debt — external | 0 | 0 | 0 | [4],[5] | |||
Proceeds from issuance of long-term debt — affiliate | 0 | 0 | |||||
Payments of debt issuance costs | 0 | 0 | |||||
Payments for long-term debt — external | 0 | 0 | |||||
Net Cash (Used in) Provided by Financing Activities | (129) | [7] | 151 | [2],[6] | 855 | [4],[5] | |
Cash and Cash Equivalents, Period Increase (Decrease) | 196 | (313) | [2],[6] | 325 | [4],[5] | ||
Cash and Cash Equivalents at Beginning of Period | 15 | [2],[6] | 328 | [4],[5] | 3 | [4],[5] | |
Cash and Cash Equivalents at End of Period | 211 | 15 | [2],[6] | 328 | [4],[5] | ||
Guarantor Subsidiaries [Member] | |||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||
Net Cash Provided by Operating Activities | 62 | 19 | 12 | ||||
Acquisition of businesses, net of cash acquired | 0 | 0 | |||||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | 0 | 0 | 0 | ||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | 0 | |||||
Capital expenditures | 0 | 0 | 0 | ||||
Increase (Decrease) in Restricted Cash | 0 | 0 | 0 | ||||
Cash receipts from notes receivable | 0 | 0 | 0 | ||||
Return of investment from unconsolidated affiliates | 16 | 0 | 0 | ||||
Investments in unconsolidated affiliates | (80) | (28) | |||||
Net Cash Used in Investing Activities | (64) | (28) | 0 | ||||
Transfer of funds under intercompany cash management arrangement | 2 | 9 | (12) | ||||
Proceeds from Noncontrolling Interests | 0 | 0 | 0 | ||||
Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets | 0 | 0 | 0 | ||||
Proceeds from the issuance of class A and class C units | 0 | 0 | |||||
Payments of (Proceeds from) distributions | 0 | 0 | 0 | ||||
Proceeds from the revolving credit facility | 0 | 0 | |||||
Repayments of Lines of Credit | 0 | 0 | |||||
Proceeds from issuance of long-term debt — external | 0 | 0 | 0 | ||||
Proceeds from issuance of long-term debt — affiliate | 0 | 0 | |||||
Payments of debt issuance costs | 0 | 0 | |||||
Payments for long-term debt — external | 0 | 0 | |||||
Net Cash (Used in) Provided by Financing Activities | 2 | 9 | (12) | ||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | 0 | ||||
Cash and Cash Equivalents at Beginning of Period | 0 | 0 | 0 | ||||
Cash and Cash Equivalents at End of Period | 0 | 0 | 0 | ||||
Non-Guarantor Subsidiaries [Member] | |||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||
Net Cash Provided by Operating Activities | 546 | 420 | 357 | [5] | |||
Acquisition of businesses, net of cash acquired | 0 | 0 | |||||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | (21) | 285 | 36 | ||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | (46) | |||||
Capital expenditures | (20) | (29) | (60) | [5] | |||
Increase (Decrease) in Restricted Cash | (34) | (1) | 25 | [5] | |||
Cash receipts from notes receivable | 17 | 17 | 12 | [5] | |||
Return of investment from unconsolidated affiliates | 0 | 0 | 0 | [5] | |||
Investments in unconsolidated affiliates | (3) | 0 | |||||
Net Cash Used in Investing Activities | (57) | 272 | [2] | 547 | [5] | ||
Transfer of funds under intercompany cash management arrangement | 0 | 0 | 0 | [5] | |||
Proceeds from Noncontrolling Interests | 0 | 0 | 190 | ||||
Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets | (170) | (76) | (333) | [5] | |||
Proceeds from the issuance of class A and class C units | 0 | 0 | [5] | ||||
Payments of (Proceeds from) distributions | (420) | (392) | (232) | [5] | |||
Proceeds from the revolving credit facility | 0 | 0 | |||||
Repayments of Lines of Credit | 0 | 0 | |||||
Proceeds from issuance of long-term debt — external | 390 | 6 | 178 | [5] | |||
Proceeds from issuance of long-term debt — affiliate | 0 | 0 | |||||
Payments of debt issuance costs | (10) | (6) | |||||
Payments for long-term debt — external | (264) | (230) | |||||
Net Cash (Used in) Provided by Financing Activities | (474) | (698) | [2] | (839) | [5] | ||
Cash and Cash Equivalents, Period Increase (Decrease) | 15 | (6) | [2] | 65 | [5] | ||
Cash and Cash Equivalents at Beginning of Period | 95 | [2] | 101 | [5] | 36 | [5] | |
Cash and Cash Equivalents at End of Period | 110 | 95 | [2] | 101 | [5] | ||
NRG Yield Operating LLC [Member] | |||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||
Net Cash Provided by Operating Activities | (39) | (18) | (7) | [5] | |||
Acquisition of businesses, net of cash acquired | 37 | 901 | |||||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | (304) | 179 | 494 | ||||
Acquisition of Drop Down Assets, net of cash acquired | 77 | 698 | 357 | ||||
Capital expenditures | 0 | 0 | 0 | [5] | |||
Increase (Decrease) in Restricted Cash | 0 | 0 | 0 | [5] | |||
Cash receipts from notes receivable | 0 | 0 | 2 | [5] | |||
Return of investment from unconsolidated affiliates | 12 | 42 | 4 | [5] | |||
Investments in unconsolidated affiliates | 0 | (374) | |||||
Net Cash Used in Investing Activities | (369) | (888) | [2] | (758) | [5] | ||
Transfer of funds under intercompany cash management arrangement | (56) | 300 | (314) | [5] | |||
Proceeds from Noncontrolling Interests | 5 | 122 | 0 | ||||
Distributions and return of capital to NRG prior to the acquisition of Drop Down Assets | 0 | 0 | 0 | [5] | |||
Proceeds from the issuance of class A and class C units | 0 | 0 | [5] | ||||
Payments of (Proceeds from) distributions | 420 | 392 | 232 | [5] | |||
Proceeds from the revolving credit facility | 60 | 551 | |||||
Repayments of Lines of Credit | (366) | (245) | |||||
Proceeds from issuance of long-term debt — external | 350 | 0 | 0 | [5] | |||
Proceeds from issuance of long-term debt — affiliate | 281 | 337 | |||||
Payments of debt issuance costs | (5) | (1) | |||||
Payments for long-term debt — external | 0 | (494) | |||||
Net Cash (Used in) Provided by Financing Activities | 408 | 906 | [2] | 745 | [5] | ||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | [2] | (20) | [5] | ||
Cash and Cash Equivalents at Beginning of Period | 0 | [2] | 0 | [5] | 20 | [5] | |
Cash and Cash Equivalents at End of Period | $ 0 | 0 | [2] | $ 0 | [5] | ||
Drop Down Assets [Member] | NRG Yield LLC [Member] | |||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | ||||||
Drop Down Assets [Member] | Guarantor Subsidiaries [Member] | |||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | ||||||
Drop Down Assets [Member] | Non-Guarantor Subsidiaries [Member] | |||||||
Condensed Cash Flow Statements, Captions [Line Items] | |||||||
Acquisition of Drop Down Assets, net of cash acquired | $ 0 | ||||||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[2] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[4] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||
[5] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||
[6] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||
[7] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. |
Condensed Consolidating Fina107
Condensed Consolidating Financial Information PP2 Income Statement (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Total operating revenues | $ 232 | $ 272 | $ 283 | $ 234 | $ 224 | $ 256 | $ 259 | $ 214 | $ 1,021 | [3] | $ 953 | [3] | $ 828 | [3] | |||||||
Cost of operations | [3] | 306 | 321 | 277 | |||||||||||||||||
Depreciation, Depletion and Amortization | [3] | 297 | 297 | 233 | |||||||||||||||||
General and Administrative Expense | [3] | 14 | 10 | 8 | |||||||||||||||||
Business Combination, Acquisition Related Costs | [3] | 1 | 3 | 4 | |||||||||||||||||
Total operating costs and expenses | [3] | 801 | 631 | 522 | |||||||||||||||||
Operating Income | (99) | 118 | 128 | 73 | 71 | 102 | 99 | 50 | 220 | [3] | 322 | [3] | 306 | [3] | |||||||
Equity in earnings (losses) of consolidated affiliates | 0 | 0 | 0 | ||||||||||||||||||
Income (Loss) from Equity Method Investments | [3],[4] | 60 | 31 | 22 | |||||||||||||||||
Other Nonoperating Income (Expense) | [3] | 3 | 3 | 6 | |||||||||||||||||
Loss on debt extinguishment | [3],[4] | 0 | (9) | (1) | |||||||||||||||||
Interest expense | [3] | (268) | (254) | (211) | |||||||||||||||||
Total other income (expense), net | [3] | (205) | (229) | (184) | |||||||||||||||||
Net Income | $ (139) | $ 67 | $ 81 | $ 6 | $ 20 | $ 47 | $ 50 | $ (24) | 15 | [3],[5] | 93 | [3],[5],[6] | 122 | [3],[5],[6] | |||||||
Net Income (Loss) Attributable to Noncontrolling Interest | [3] | (142) | (51) | 3 | |||||||||||||||||
Net Income Attributable to NRG Yield LLC | [3] | 157 | 144 | 119 | |||||||||||||||||
NRG Yield LLC [Member] | |||||||||||||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||||||||||||
Cost of operations | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Depreciation, Depletion and Amortization | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
General and Administrative Expense | 2 | 0 | 0 | [7],[8] | |||||||||||||||||
Business Combination, Acquisition Related Costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | 2 | 0 | 0 | [7],[8] | |||||||||||||||||
Operating Income | (2) | 0 | 0 | [7],[8] | |||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 159 | 144 | 118 | [7],[8] | |||||||||||||||||
Income (Loss) from Equity Method Investments | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Other Nonoperating Income (Expense) | 0 | 0 | 1 | [7],[8] | |||||||||||||||||
Loss on debt extinguishment | 0 | 0 | |||||||||||||||||||
Interest expense | 0 | 0 | 0 | [7],[8] | |||||||||||||||||
Total other income (expense), net | 159 | 144 | 119 | [7],[8] | |||||||||||||||||
Net Income | 157 | 144 | [9],[10],[11],[12] | 119 | [13],[14] | ||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | [15] | 0 | 0 | [7],[8] | ||||||||||||||||
Net Income Attributable to NRG Yield LLC | 157 | [15] | 144 | 119 | [7],[8] | ||||||||||||||||
Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Total operating revenues | 22 | 21 | 24 | [7],[8] | |||||||||||||||||
Cost of operations | 14 | 14 | 16 | ||||||||||||||||||
Depreciation, Depletion and Amortization | 5 | 4 | 4 | ||||||||||||||||||
General and Administrative Expense | 0 | 0 | 0 | ||||||||||||||||||
Business Combination, Acquisition Related Costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | 19 | 18 | 20 | ||||||||||||||||||
Operating Income | 3 | 3 | 4 | ||||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 10 | (43) | (22) | ||||||||||||||||||
Income (Loss) from Equity Method Investments | 9 | (2) | 0 | ||||||||||||||||||
Other Nonoperating Income (Expense) | 0 | 0 | 0 | ||||||||||||||||||
Loss on debt extinguishment | 0 | 0 | |||||||||||||||||||
Interest expense | 0 | 0 | 0 | ||||||||||||||||||
Total other income (expense), net | 19 | (45) | (22) | ||||||||||||||||||
Net Income | 22 | (42) | (18) | ||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||||
Net Income Attributable to NRG Yield LLC | 22 | (42) | (18) | ||||||||||||||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Total operating revenues | 999 | 922 | 804 | [8] | |||||||||||||||||
Cost of operations | 292 | 307 | 261 | [8] | |||||||||||||||||
Depreciation, Depletion and Amortization | 292 | 293 | 229 | [8] | |||||||||||||||||
General and Administrative Expense | 0 | 0 | 0 | [8] | |||||||||||||||||
Business Combination, Acquisition Related Costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | 767 | 600 | 490 | [8] | |||||||||||||||||
Operating Income | 232 | 322 | 314 | [8] | |||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 0 | 0 | 0 | [8] | |||||||||||||||||
Income (Loss) from Equity Method Investments | 21 | 8 | 3 | [8] | |||||||||||||||||
Other Nonoperating Income (Expense) | 3 | 3 | 5 | [8] | |||||||||||||||||
Loss on debt extinguishment | (9) | (1) | |||||||||||||||||||
Interest expense | (202) | (202) | (186) | [8] | |||||||||||||||||
Total other income (expense), net | (178) | (200) | (179) | [8] | |||||||||||||||||
Net Income | 54 | 122 | [11],[12] | 135 | [8] | ||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | (1) | (2) | 0 | [8] | |||||||||||||||||
Net Income Attributable to NRG Yield LLC | 55 | 124 | 135 | [8] | |||||||||||||||||
NRG Yield Operating LLC [Member] | |||||||||||||||||||||
Total operating revenues | 1 | 10 | 0 | [8] | |||||||||||||||||
Cost of operations | 1 | 0 | 0 | [8] | |||||||||||||||||
Depreciation, Depletion and Amortization | 0 | 0 | 0 | [8] | |||||||||||||||||
General and Administrative Expense | 12 | 10 | 8 | [8] | |||||||||||||||||
Business Combination, Acquisition Related Costs | 1 | 3 | 4 | ||||||||||||||||||
Total operating costs and expenses | 14 | 13 | 12 | [8] | |||||||||||||||||
Operating Income | (13) | (3) | (12) | [8] | |||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | 66 | 123 | 139 | [8] | |||||||||||||||||
Income (Loss) from Equity Method Investments | 30 | 25 | 19 | [8] | |||||||||||||||||
Other Nonoperating Income (Expense) | 0 | 0 | 0 | [8] | |||||||||||||||||
Loss on debt extinguishment | 0 | 0 | |||||||||||||||||||
Interest expense | (66) | (52) | (25) | [8] | |||||||||||||||||
Total other income (expense), net | 30 | 96 | 133 | [8] | |||||||||||||||||
Net Income | 17 | 93 | [11],[12] | 121 | [8] | ||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | (142) | (51) | 3 | [8] | |||||||||||||||||
Net Income Attributable to NRG Yield LLC | 159 | 144 | 118 | [8] | |||||||||||||||||
Consolidation, Eliminations [Member] | |||||||||||||||||||||
Total operating revenues | (1) | 0 | 0 | [8],[16] | |||||||||||||||||
Cost of operations | (1) | 0 | 0 | [8],[16] | |||||||||||||||||
Depreciation, Depletion and Amortization | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
General and Administrative Expense | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Business Combination, Acquisition Related Costs | 0 | 0 | 0 | ||||||||||||||||||
Total operating costs and expenses | (1) | 0 | 0 | [8],[16] | |||||||||||||||||
Operating Income | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Equity in earnings (losses) of consolidated affiliates | (235) | (224) | (235) | [8],[16] | |||||||||||||||||
Income (Loss) from Equity Method Investments | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Other Nonoperating Income (Expense) | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Loss on debt extinguishment | 0 | 0 | |||||||||||||||||||
Interest expense | 0 | 0 | 0 | [8],[16] | |||||||||||||||||
Total other income (expense), net | (235) | (224) | (235) | [8],[16] | |||||||||||||||||
Net Income | (235) | (224) | [11],[12],[17],[18] | (235) | [14],[19] | ||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 1 | 2 | 0 | [8],[16] | |||||||||||||||||
Net Income Attributable to NRG Yield LLC | $ (236) | [20] | $ (226) | $ (235) | [8],[16] | ||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[5] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[6] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[7] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[8] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[9] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[10] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[11] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[12] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[13] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[14] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[15] | Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[16] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[17] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[18] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[19] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[20] | All significant intercompany transactions have been eliminated in consolidation. |
Condensed Consolidating Fina108
Condensed Consolidating Financial Information PP2 Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1] | Mar. 31, 2016 | [1] | Dec. 31, 2015 | [2] | Sep. 30, 2015 | [2] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | [2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Net Income (Loss) | $ (139) | $ 67 | $ 81 | $ 6 | $ 20 | $ 47 | $ 50 | $ (24) | $ 15 | [3],[4] | $ 93 | [3],[4],[5] | $ 122 | [3],[4],[5] | |||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | [4] | 13 | (17) | (65) | |||||||||||||||||
Other comprehensive (loss) income | [4] | 13 | (17) | (65) | |||||||||||||||||
Comprehensive Income | [4] | 28 | 76 | 57 | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | [4] | (142) | (52) | 1 | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | [4] | 170 | 128 | 56 | |||||||||||||||||
Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Net Income (Loss) | 22 | (42) | (18) | ||||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 1 | 0 | 0 | ||||||||||||||||||
Other comprehensive (loss) income | 1 | 0 | 0 | ||||||||||||||||||
Comprehensive Income | 23 | (42) | (18) | ||||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 23 | (42) | (18) | ||||||||||||||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||||||||||||
Net Income (Loss) | 54 | 122 | [6],[7] | 135 | [8] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 10 | (18) | (63) | [9] | |||||||||||||||||
Other comprehensive (loss) income | 10 | (18) | (63) | [9] | |||||||||||||||||
Comprehensive Income | 64 | 104 | 72 | [9] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | (1) | (2) | 0 | [9] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 65 | 106 | 72 | [9] | |||||||||||||||||
NRG Yield Operating LLC [Member] | |||||||||||||||||||||
Net Income (Loss) | 17 | 93 | [6],[7] | 121 | [8] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 13 | (17) | (65) | [9] | |||||||||||||||||
Other comprehensive (loss) income | 13 | (17) | (65) | [9] | |||||||||||||||||
Comprehensive Income | 30 | 76 | 56 | [9] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | (142) | (52) | 1 | [9] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 172 | 128 | 55 | [9] | |||||||||||||||||
NRG Yield LLC [Member] | |||||||||||||||||||||
Net Income (Loss) | 157 | 144 | [6],[7],[10],[11] | 119 | [9],[12] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 13 | (16) | (63) | [9],[12] | |||||||||||||||||
Other comprehensive (loss) income | 13 | (16) | (63) | [9],[12] | |||||||||||||||||
Comprehensive Income | 170 | 128 | 56 | [9],[12] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 0 | [13] | 0 | 0 | [9],[12] | ||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 170 | [13] | 128 | 56 | [9],[12] | ||||||||||||||||
Consolidation, Eliminations [Member] | |||||||||||||||||||||
Net Income (Loss) | (235) | (224) | [6],[7],[14],[15] | (235) | [9],[16] | ||||||||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | (24) | 34 | 126 | [9],[16] | |||||||||||||||||
Other comprehensive (loss) income | (24) | 34 | 126 | [9],[16] | |||||||||||||||||
Comprehensive Income | (259) | (190) | (109) | [9],[16] | |||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 1 | [17] | 2 | 0 | [9],[16] | ||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ (260) | [17] | $ (192) | $ (109) | [9],[16] | ||||||||||||||||
[1] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[2] | (a) The Company's unaudited quarterly financial data was recast for the effect of the March 2017 Drop Down Assets acquisition. | ||||||||||||||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[4] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[5] | Retrospectively adjusted, as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[6] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[7] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[8] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[9] | (c) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||||||||||||||
[10] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[11] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[12] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[13] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||||||||||||||
[14] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[15] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[16] | (b) All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||
[17] | (b) All significant intercompany transactions have been eliminated in consolidation. |
Condensed Consolidating Fina109
Condensed Consolidating Financial Information PP2 Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||||||
Net Cash Provided by Operating Activities | [1] | $ 569 | $ 421 | $ 362 | |||||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | 0 | 0 | 0 | ||||||
Acquisition of businesses, net of cash acquired | [1] | 0 | 37 | 901 | |||||
Acquisition of Drop Down Assets, net of cash acquired | [1] | (77) | [2] | (698) | (311) | ||||
Payments to Acquire Property, Plant, and Equipment | [1] | 20 | 29 | 60 | |||||
Receipt of indemnity from supplier | [1] | 0 | 0 | 57 | |||||
Increase (Decrease) in Restricted Cash | [1] | 34 | 1 | (25) | |||||
Increase (Decrease) in Notes Receivables | [1] | (17) | (17) | (14) | |||||
Proceeds from Renewable Energy Grants | [1] | 0 | 0 | (422) | |||||
Return of investment from unconsolidated affiliates | [1] | 28 | 42 | 4 | |||||
Payments for (Proceeds from) Other Investing Activities | [1] | (4) | 0 | (11) | |||||
Net Cash Used in Investing Activities | [1] | (165) | (1,108) | (741) | |||||
Proceeds from Payments to Intercompany Loans | 0 | 0 | 0 | ||||||
Proceeds from Noncontrolling Interests | 5 | 122 | 190 | ||||||
Proceeds from Contributions from Parent | [1] | 0 | 0 | 2 | |||||
Proceeds from the issuance of class A and class C units | [1] | 0 | 599 | 630 | |||||
Payments of Capital Distribution | [1] | 170 | 76 | 333 | |||||
Payments of (Proceeds from) distributions | (183) | (139) | (101) | ||||||
Proceeds from (Repayments of) Lines of Credit | 500 | ||||||||
Proceeds from Related Party Debt | [1] | 0 | (281) | (337) | |||||
Proceeds from Issuance of Long-term Debt | [1] | 740 | 6 | 178 | |||||
Proceeds from (Repayments of) Debt | (626) | ||||||||
Payments of Financing Costs | 28 | ||||||||
Net Cash (Used in) Provided by Financing Activities | [1] | (193) | 368 | 749 | |||||
Cash and Cash Equivalents, Period Increase (Decrease) | [1] | 211 | (319) | 370 | |||||
Cash and Cash Equivalents, at Carrying Value | [1] | 321 | [3] | 110 | [3] | 429 | $ 59 | ||
Guarantor Subsidiaries [Member] | |||||||||
Net Cash Provided by Operating Activities | 62 | 19 | 12 | ||||||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | 0 | 0 | 0 | ||||||
Acquisition of businesses, net of cash acquired | 0 | 0 | |||||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | 0 | |||||||
Payments to Acquire Property, Plant, and Equipment | 0 | 0 | 0 | ||||||
Receipt of indemnity from supplier | 0 | ||||||||
Increase (Decrease) in Restricted Cash | 0 | 0 | 0 | ||||||
Increase (Decrease) in Notes Receivables | 0 | 0 | 0 | ||||||
Proceeds from Renewable Energy Grants | 0 | ||||||||
Return of investment from unconsolidated affiliates | 16 | 0 | 0 | ||||||
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | |||||||
Net Cash Used in Investing Activities | (64) | (28) | 0 | ||||||
Proceeds from Payments to Intercompany Loans | 2 | 9 | (12) | ||||||
Proceeds from Noncontrolling Interests | 0 | 0 | 0 | ||||||
Proceeds from Contributions from Parent | 0 | ||||||||
Proceeds from the issuance of class A and class C units | 0 | 0 | |||||||
Payments of Capital Distribution | 0 | 0 | 0 | ||||||
Payments of (Proceeds from) distributions | 0 | 0 | 0 | ||||||
Proceeds from (Repayments of) Lines of Credit | 0 | ||||||||
Proceeds from Related Party Debt | 0 | 0 | |||||||
Proceeds from Issuance of Long-term Debt | 0 | 0 | 0 | ||||||
Proceeds from (Repayments of) Debt | 0 | ||||||||
Payments of Financing Costs | 0 | ||||||||
Net Cash (Used in) Provided by Financing Activities | 2 | 9 | (12) | ||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | 0 | ||||||
Cash and Cash Equivalents, at Carrying Value | 0 | 0 | 0 | 0 | |||||
Non-Guarantor Subsidiaries [Member] | |||||||||
Net Cash Provided by Operating Activities | 546 | 420 | 357 | [4] | |||||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | (21) | 285 | 36 | ||||||
Acquisition of businesses, net of cash acquired | 0 | 0 | |||||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | 46 | |||||||
Payments to Acquire Property, Plant, and Equipment | 20 | 29 | 60 | [4] | |||||
Receipt of indemnity from supplier | 57 | ||||||||
Increase (Decrease) in Restricted Cash | 34 | 1 | (25) | [4] | |||||
Increase (Decrease) in Notes Receivables | (17) | (17) | (12) | [4] | |||||
Proceeds from Renewable Energy Grants | [4] | (422) | |||||||
Return of investment from unconsolidated affiliates | 0 | 0 | 0 | [4] | |||||
Payments for (Proceeds from) Other Investing Activities | (4) | (11) | |||||||
Net Cash Used in Investing Activities | (57) | 272 | [2] | 547 | [4] | ||||
Proceeds from Payments to Intercompany Loans | 0 | 0 | 0 | [4] | |||||
Proceeds from Noncontrolling Interests | 0 | 0 | 190 | ||||||
Proceeds from Contributions from Parent | [4] | 2 | |||||||
Proceeds from the issuance of class A and class C units | 0 | 0 | [4] | ||||||
Payments of Capital Distribution | 170 | 76 | 333 | [4] | |||||
Payments of (Proceeds from) distributions | (420) | (392) | (232) | [4] | |||||
Proceeds from (Repayments of) Lines of Credit | 0 | ||||||||
Proceeds from Related Party Debt | 0 | 0 | |||||||
Proceeds from Issuance of Long-term Debt | 390 | 6 | 178 | [4] | |||||
Proceeds from (Repayments of) Debt | [4] | (626) | |||||||
Payments of Financing Costs | [4] | 18 | |||||||
Net Cash (Used in) Provided by Financing Activities | (474) | (698) | [2] | (839) | [4] | ||||
Cash and Cash Equivalents, Period Increase (Decrease) | 15 | (6) | [2] | 65 | [4] | ||||
Cash and Cash Equivalents, at Carrying Value | 110 | 95 | [2] | 101 | [4] | 36 | [4] | ||
NRG Yield Operating LLC [Member] | |||||||||
Net Cash Provided by Operating Activities | (39) | (18) | (7) | [4] | |||||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | (304) | 179 | 494 | ||||||
Acquisition of businesses, net of cash acquired | 37 | 901 | |||||||
Acquisition of Drop Down Assets, net of cash acquired | (77) | (698) | (357) | ||||||
Payments to Acquire Property, Plant, and Equipment | 0 | 0 | 0 | [4] | |||||
Receipt of indemnity from supplier | 0 | ||||||||
Increase (Decrease) in Restricted Cash | 0 | 0 | 0 | [4] | |||||
Increase (Decrease) in Notes Receivables | 0 | 0 | (2) | [4] | |||||
Proceeds from Renewable Energy Grants | [4] | 0 | |||||||
Return of investment from unconsolidated affiliates | 12 | 42 | 4 | [4] | |||||
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | |||||||
Net Cash Used in Investing Activities | (369) | (888) | [2] | (758) | [4] | ||||
Proceeds from Payments to Intercompany Loans | (56) | 300 | (314) | [4] | |||||
Proceeds from Noncontrolling Interests | 5 | 122 | 0 | ||||||
Proceeds from Contributions from Parent | [4] | 0 | |||||||
Proceeds from the issuance of class A and class C units | 0 | 0 | [4] | ||||||
Payments of Capital Distribution | 0 | 0 | 0 | [4] | |||||
Payments of (Proceeds from) distributions | 420 | 392 | 232 | [4] | |||||
Proceeds from (Repayments of) Lines of Credit | 500 | ||||||||
Proceeds from Related Party Debt | (281) | (337) | |||||||
Proceeds from Issuance of Long-term Debt | 350 | 0 | 0 | [4] | |||||
Proceeds from (Repayments of) Debt | [4] | 0 | |||||||
Payments of Financing Costs | [4] | 10 | |||||||
Net Cash (Used in) Provided by Financing Activities | 408 | 906 | [2] | 745 | [4] | ||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | [2] | (20) | [4] | ||||
Cash and Cash Equivalents, at Carrying Value | 0 | 0 | [2] | 0 | [4] | 20 | [4] | ||
NRG Yield LLC [Member] | |||||||||
Net Cash Provided by Operating Activities | 0 | 0 | 0 | [4],[5] | |||||
Intercompany (Payments to) Receipts from Consolidated Subsidiaries | 325 | (464) | (530) | ||||||
Acquisition of businesses, net of cash acquired | 0 | 0 | |||||||
Acquisition of Drop Down Assets, net of cash acquired | 0 | 0 | |||||||
Payments to Acquire Property, Plant, and Equipment | 0 | 0 | 0 | [4],[5] | |||||
Receipt of indemnity from supplier | 0 | ||||||||
Increase (Decrease) in Restricted Cash | 0 | 0 | 0 | [4],[5] | |||||
Increase (Decrease) in Notes Receivables | 0 | 0 | 0 | [4],[5] | |||||
Proceeds from Renewable Energy Grants | [4],[5] | 0 | |||||||
Return of investment from unconsolidated affiliates | 0 | 0 | 0 | [4],[5] | |||||
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | |||||||
Net Cash Used in Investing Activities | 325 | (464) | [2],[6] | (530) | [4],[5] | ||||
Proceeds from Payments to Intercompany Loans | 54 | (309) | 326 | [4],[5] | |||||
Proceeds from Noncontrolling Interests | 0 | 0 | 0 | ||||||
Proceeds from Contributions from Parent | [4],[5] | 0 | |||||||
Proceeds from the issuance of class A and class C units | 599 | 630 | [4],[5] | ||||||
Payments of Capital Distribution | 0 | 0 | 0 | [4],[5] | |||||
Payments of (Proceeds from) distributions | (183) | (139) | (101) | [4],[5] | |||||
Proceeds from (Repayments of) Lines of Credit | 0 | ||||||||
Proceeds from Related Party Debt | 0 | 0 | |||||||
Proceeds from Issuance of Long-term Debt | 0 | 0 | 0 | [4],[5] | |||||
Proceeds from (Repayments of) Debt | [4],[5] | 0 | |||||||
Payments of Financing Costs | [4],[5] | 0 | |||||||
Net Cash (Used in) Provided by Financing Activities | (129) | [7] | 151 | [2],[6] | 855 | [4],[5] | |||
Cash and Cash Equivalents, Period Increase (Decrease) | 196 | (313) | [2],[6] | 325 | [4],[5] | ||||
Cash and Cash Equivalents, at Carrying Value | $ 211 | $ 15 | [2],[6] | $ 328 | [4],[5] | $ 3 | [4],[5] | ||
[1] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[2] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[3] | Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[4] | (b) Retrospectively adjusted as discussed in Note 1, Nature of Business. | ||||||||
[5] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||
[6] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. | ||||||||
[7] | (a) Shown separately from the other guarantors in lieu of preparing Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X. |
Asset Retirement Obligations (D
Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Asset Retirement Obligation [Abstract] | ||
Asset Retirement Obligation | $ 48 | $ 43 |
Revisions in estimates for current obligations | 2 | |
Accretion — expense | $ 3 |