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Schedule I - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
Schedule I - Condensed Financial Information of Registrant SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
VISTRA CORP. (PARENT)
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED STATEMENTS OF OPERATIONS
(Millions of Dollars)
Year Ended December 31,
202320222021
Depreciation and amortization$(15)$(16)$(17)
Selling, general and administrative expenses(80)(69)(53)
Operating loss(95)(85)(70)
Other income31 6 3 
Impacts of Tax Receivable Agreement(164)(128)53 
Loss before income tax benefit(228)(207)(14)
Income tax benefit58 47 4 
Equity in earnings (losses) of subsidiaries, net of tax1,663 (1,067)(1,264)
Net income (loss)$1,493 $(1,227)$(1,274)

See Notes to the Condensed Financial Statements.

VISTRA CORP. (PARENT)
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED STATEMENTS OF CASH FLOWS
(Millions of Dollars)
Year Ended December 31,
202320222021
Cash flows — operating activities:
Cash used in operating activities$(31)$(27)$(38)
Cash flows — investing activities:
Capital expenditures— — — 
Dividend received from subsidiaries1,625 1,775 405 
Equity contribution to subsidiaries— — (988)
Cash provided by (used in) investing activities1,625 1,775 (583)
Cash flows — financing activities:
Issuances of preferred stock— — 2,000 
Stock repurchases(1,245)(1,949)(471)
Dividends paid to common stockholders(313)(302)(290)
Dividends paid to preferred stockholders(150)(151)— 
Other, net91 40 (23)
Cash provided by (used in) financing activities(1,617)(2,362)1,216 
Net change in cash, cash equivalents and restricted cash(23)(614)595 
Cash, cash equivalents and restricted cash — beginning balance54 668 73 
Cash, cash equivalents and restricted cash — ending balance$31 $54 $668 

See Notes to the Condensed Financial Statements.
VISTRA CORP. (PARENT)
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED BALANCE SHEETS
(Millions of Dollars)
December 31,
20232022
ASSETS
Cash and cash equivalents$31 $54 
Trade accounts receivable — net— 11 
Income taxes receivable6 27 
Prepaid expense and other current assets— 1 
Total current assets37 93 
Investment in affiliated companies4,507 4,462 
Property, plant and equipment — net3 3 
Identifiable intangible assets — net— 15 
Accumulated deferred income taxes1,086 1,019 
Total assets$5,633 $5,592 
LIABILITIES AND EQUITY
Trade accounts payable$12 $3 
Accounts payable —affiliates91 122 
Accrued taxes12 (1)
Other current liabilities12 9 
Total current liabilities127 133 
Tax Receivable Agreement obligations164 514 
Other noncurrent liabilities and deferred debits20 27 
Total liabilities311 674 
Total stockholders' equity5,322 4,918 
Total liabilities and equity$5,633 $5,592 

See Notes to the Condensed Financial Statements.

NOTES TO CONDENSED FINANCIAL STATEMENTS

1.BASIS OF PRESENTATION

The accompanying unconsolidated condensed balance sheets, statements of net loss and cash flows present results of operations and cash flows of Vistra Corp. (Parent). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to the rules of the SEC. Because the unconsolidated condensed financial statements do not include all of the information and footnotes required by U.S. GAAP, they should be read in conjunction with the financial statements and related notes of Vistra Corp. and Subsidiaries included in the annual report on Form 10-K for the year ended December 31, 2023. Vistra Corp.'s subsidiaries have been accounted for under the equity method. All dollar amounts in the financial statements and tables in the notes are stated in millions of U.S. dollars unless otherwise indicated.

Vistra Corp. (Parent) files a consolidated U.S. federal income tax return. Consolidated tax expenses or benefits and deferred tax assets or liabilities have been allocated to the respective subsidiaries in accordance with the accounting rules that apply to separate financial statements of subsidiaries.
2.RESTRICTIONS ON SUBSIDIARIES

The Vistra Operations Credit Agreement generally restricts the ability of Vistra Operations to make distributions to any direct or indirect parent unless such distributions are expressly permitted thereunder. As of December 31, 2023, Vistra Operations can distribute approximately $6.3 billion to Vistra Corp. (Parent) under the Vistra Operations Credit Agreement without the consent of any party. The amount that can be distributed by Vistra Operations to Parent was partially reduced by distributions made by Vistra Operations to Vistra Corp. (Parent) of approximately $1.625 billion, $1.775 billion and $405 million during the years ended December 31, 2023, 2022 and 2021, respectively. Additionally, Vistra Operations may make distributions to Vistra Corp. (Parent) in amounts sufficient for Vistra Corp. (Parent) to make any payments required under the TRA or the Tax Matters Agreement or, to the extent arising out of Vistra Corp. (Parent)'s ownership or operation of Vistra Operations, to pay any taxes or general operating or corporate overhead expenses. As of December 31, 2023, all of the restricted net assets of Vistra Operations may be distributed to Vistra Corp. (Parent).

3.GUARANTEES

Vistra Corp. (Parent) has entered into contracts that contain guarantees to unaffiliated parties that could require performance or payment under certain conditions. As of December 31, 2023, there are no material outstanding claims related to guarantee obligations of Vistra Corp. (Parent), and Vistra Corp. (Parent) does not anticipate it will be required to make any material payments under these guarantees in the near term.

4.DIVIDEND RESTRICTIONS

Under applicable law, Vistra Corp. (Parent) is prohibited from paying any dividend to the extent that immediately following payment of such dividend there would be no statutory surplus or Vistra Corp. (Parent) would be insolvent.

Vistra Corp. (Parent) received $1.625 billion, $1.775 billion and $405 million in dividends from its consolidated subsidiaries in the years ended December 31, 2023, 2022 and 2021, respectively. In the year ended December 31, 2021, Vistra Corp. (Parent) made an equity contribution to Vistra Operations of $988 million.