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Changes in Capital Structure | 6 Months Ended
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Jun. 30, 2018
Equity [Abstract] |
Changes in Capital Structure | Changes in Capital Structure As of June 30, 2018 and December 31, 2017, the Company had 500,000,000 shares of common stock authorized. The following table reflects the changes in NRG's common stock issued and outstanding:
| Issued |  | Treasury |  | Outstanding
Balance as of December 31, 2017 | 418,323,134 |  |  | (101,580,045 | ) |  | 316,743,089 |
Shares issued under LTIPs | 1,373,655 |  |  | — |  |  | 1,373,655 |
Shares issued under ESPP | — |  |  | 175,862 |  |  | 175,862 |
Shares repurchased | — |  |  | (14,863,301 | ) |  | (14,863,301 | )
Balance as of June 30, 2018 | 419,696,789 |  |  | (116,267,484 | ) |  | 303,429,305 |
Employee Stock Purchase Plan In January 2018, 175,862 shares of common stock were issued to employee accounts from treasury stock for the offering period of July 1, 2017, to December 31, 2017. In January 2018, NRG suspended the ESPP. Share Repurchases In February 2018, the Company's board of directors authorized the Company to repurchase $1 billion of its common stock, with the first $500 million program beginning as soon as permitted. The following repurchases have been made during the six months ended June 30, 2018.
| Total number of shares purchased |  | Average price paid per share (a) |  | Amounts paid for shares purchased (in millions) (a)
Board Authorized Share Repurchases |  |  |  |  |
First Quarter 2018 | 3,114,748 |  |  |  |  | $ | 93 |
Second Quarter 2018 (b) | 11,748,553 |  |  |  |  | 407 |
Total Board Authorized Share Repurchases as of June 30, 2018 | 14,863,301 |  |  |  |  | $ | 500 |
July 2018 | 860,880 |  |  |  |  | — |
Total Board Authorized Share Repurchases as of August 2, 2018 | 15,724,181 |  |  | $ | 31.80 |  |  | $ | 500 |
(a) The average price paid per share and amounts paid for shares purchased exclude the commissions of $0.01 per share paid in connection with the share repurchase. (b) The share repurchases for the second quarter include 9,969,023 of the shares repurchased through the ASR Agreement, as described below. Accelerated Share Repurchase On May 24, 2018, the Company executed an accelerated share repurchase agreement, or ASR Agreement, with a financial institution to repurchase a total of $354 million of outstanding common stock based on a volume weighted average price. The Company received initial shares of 9,969,023, which were recorded in treasury stock at fair value based on the closing price of $343 million, with the remaining $11 million recorded in additional paid in capital, representing the value of the forward contract to purchase additional shares. In July 2018, the financial institution delivered the remaining shares pursuant to the ASR Agreement and the Company received an additional 860,880 shares. The average price paid for all of the shares delivered under the ASR Agreement was $32.69 per share. Upon receipt of the additional shares, the Company transferred the $11 million from additional paid in capital to treasury stock. NRG Common Stock Dividends The following table lists the dividends paid during the six months ended June 30, 2018:
| Second Quarter 2018 |  | First Quarter 2018
Dividends per Common Share | $ | 0.03 |  |  | $ | 0.03 |
On July 18, 2018, NRG declared a quarterly dividend on the Company's common stock of $0.03 per share, payable August 15, 2018, to stockholders of record as of August 1, 2018, representing $0.12 per share on an annualized basis. The Company's common stock dividends are subject to available capital, market conditions, and compliance with associated laws, regulations and other contractual obligations.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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