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Benefit Plans and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
Schedule of Net Benefit Cost (Credit) Related to Pension and Other Postretirement Benefit Plans Components
The annual net periodic benefit cost/(credit) related to NRG's pension and other postretirement benefit plans include the following components:
 
Year Ended December 31,
 
Pension Benefits
 
2018
 
2017
 
2016
 
(In millions)
Service cost benefits earned
$
23

 
$
26

 
$
30

Interest cost on benefit obligation
44

 
43

 
43

Expected return on plan assets
(62
)
 
(58
)
 
(60
)
Amortization of unrecognized net loss
—

 
4

 
2

Settlement/curtailment expense
7

 
—

 
—

Net periodic benefit cost
$
12

 
$
15

 
$
15

 
Year Ended December 31,
 
Other Postretirement Benefits
 
2018
 
2017
 
2016
 
(In millions)
Service cost benefits earned
$
1

 
$
1

 
$
2

Interest cost on benefit obligation
4

 
4

 
6

Amortization of unrecognized prior service credit
(10
)
 
(9
)
 
(5
)
Amortization of unrecognized net (gain)/loss
—

 
(1
)
 
—

Curtailment gain
(10
)
 
—

 
—

Net periodic benefit (credit)/cost
$
(15
)
 
$
(5
)
 
$
3
Schedule of Comparison of Pension Benefit obligation, Other Postretirement Benefit Obligations and Related Plan Assets on a Combined Basis
A comparison of the pension benefit obligation, other postretirement benefit obligations and related plan assets for NRG's plans on a combined basis is as follows:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement
Benefits
 
2018
 
2017
 
2018
 
2017
 
(In millions)
Benefit obligation at January 1
$
1,329

 
$
1,241

 
$
128

 
$
128

Service cost
23

 
26

 
1

 
1

Interest cost
44

 
43

 
4

 
4

Plan amendments
17

 
—

 
(28
)
 
(1
)
Actuarial (gain)/loss
(95
)
 
77

 
(6
)
 
6

Employee and retiree contributions
—

 
—

 
3

 
3

Curtailment gain
(20
)
 
—

 
(7
)
 
—

Benefit payments
(76
)
 
(58
)
 
(12
)
 
(13
)
Benefit obligation at December 31
1,222

 
1,329

 
83

 
128

Fair value of plan assets at January 1
1,104

 
953

 
—

 
—

Actual return on plan assets
(80
)
 
173

 
—

 
—

Employee and retiree contributions
—

 
—

 
3

 
3

Employer contributions
33

 
36

 
9

 
10

Benefit payments
(76
)
 
(58
)
 
(12
)
 
(13
)
Fair value of plan assets at December 31
981

 
1,104

 
—

 
—

Funded status at December 31 — excess of obligation over assets
$
(241
)
 
$
(225
)
 
$
(83
)
 
$
(128
)
Less: GenOn postretirement obligation(a)
—

 
—

 
—

 
38

Add: Retained obligation in bankruptcy proceeding(a)
—

 
—

 
—

 
(25
)
Net obligation for NRG
$
(241
)
 
$
(225
)
 
$
(83
)
 
$
(115
)

(a)
NRG's liability for GenOn's other postretirement benefit plans was capped at $25 million, with the final liability assumed determined as of GenOn's emergence from bankruptcy. As of December 31, 2017, the liability was $38 million so NRG's obligation was recorded at the $25 million cap. Upon emergence, the retained liability was $23 million, therefore NRG is obligated for the full retained liability of the plans.
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in NRG's balance sheets were as follows:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement
Benefits
 
2018
 
2017
 
2018
 
2017
 
(In millions)
Current liabilities
$
—

 
$
—

 
$
7

 
$
7

Less: GenOn other postretirement benefits
—

 
—

 
—

 
(3
)
Total current liabilities
$
—

 
$
—

 
$
7

 
$
4

 
 
 
 
 
 
 
 
Non-current liabilities
$
241

 
$
225

 
$
76

 
$
121

Less: GenOn other postretirement benefits
—

 
—

 
—

 
(10
)
Total non-current liabilities
$
241

 
$
225

 
$
76

 
$
111
Schedule of Amounts Recognized in OCI Not Yet Recognized as Components of Net Periodic Benefit Costs
Amounts recognized in NRG's accumulated OCI that have not yet been recognized as components of net periodic benefit cost were as follows:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement
Benefits
 
2018
 
2017
 
2018
 
2017
 
(In millions)
Net loss/(gain)
$
90

 
$
53

 
$
(9
)
 
$
(4
)
Prior service cost/(credit)
3

 
3

 
(53
)
 
(37
)
Total accumulated OCI
$
93

 
$
56

 
$
(62
)
 
$
(41
)
Less: GenOn (deconsolidated June 14, 2017)
—

 
(22
)
 
—

 
10

Net accumulated OCI
$
93

 
$
34

 
$
(62
)
 
$
(31
)
Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligations recognized in OCI were as follows:
 
Year Ended December 31,
 
Pension
Benefits
 
Other Postretirement
Benefits
 
2018
 
2017
 
2018
 
2017
 
(In millions)
Net actuarial loss/(gain)
$
47

 
$
(37
)
 
$
(5
)
 
$
6

Amortization of net actuarial (gain)/loss
—

 
(4
)
 
—

 
1

Curtailment
(27
)
 
—

 
2

 
—

Prior service credit
17

 
—

 
(28
)
 
(1
)
Amortization of prior service cost
—

 
—

 
10

 
9

Total recognized in OCI
$
37

 
$
(41
)
 
$
(21
)
 
$
15

Less: GenOn (deconsolidated June 14, 2017)
—

 
15

 
$
—

 
$
2

Net recognized in OCI
$
37

 
$
(26
)
 
$
(21
)
 
$
17

Less: GenOn post deconsolidation net periodic benefit cost
—

 
—

 
—

 
1

Net periodic benefit cost/(credit)
12

 
15

 
(15
)
 
(5
)
Net recognized in net periodic pension cost/(credit) and OCI
$
49

 
$
(11
)
 
$
(36
)
 
$
13
Schedule of Benefit Obligations Significant Components
The following table presents the balances of significant components of NRG's pension plan:
 
As of December 31,
 
Pension Benefits
 
2018
 
2017
 
(In millions)
Projected benefit obligation
$
1,222

 
$
1,329

Accumulated benefit obligation
1,188

 
1,255

Fair value of plan assets
981

 
1,104
Schedule of Fair Value of Pension Plan Assets by Asset Category and Level within the Fair Value Hierarchy
NRG's market-related value of its plan assets is the fair value of the assets. The fair values of the Company's pension plan assets by asset category and their level within the fair value hierarchy are as follows:
 
Fair Value Measurements as of December 31, 2018
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant
Observable Inputs
(Level 2)
 
Total
 
(In millions)
Common/collective trust investment — U.S. equity
$
—

 
$
183

 
$
183

Common/collective trust investment — non-U.S. equity
—

 
53

 
53

Common/collective trust investment — non-core assets
—

 
117

 
117

Common/collective trust investment — fixed income
—

 
256

 
256

Short-term investment fund
12

 
—

 
12

Subtotal fair value
$
12

 
$
609

 
$
621

Measured at net asset value practical expedient


 


 


Common/collective trust investment — non-U.S. equity


 


 
70

Common/collective trust investment — fixed income


 


 
249

Common/collective trust investment — non-core assets
 
 
 
 
16

Partnerships/joint ventures


 


 
25

Total fair value


 


 
$
981

 
Fair Value Measurements as of December 31, 2017
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant
Observable Inputs
(Level 2)
 
Total
 
(In millions)
Common/collective trust investment — U.S. equity
$
—

 
$
256

 
$
256

Common/collective trust investment — non-U.S. equity
—

 
66

 
66

Common/collective trust investment — non-core assets
—

 
178

 
178

Common/collective trust investment — fixed income
—

 
230

 
230

Short-term investment fund
5

 
—

 
5

Subtotal fair value
$
5

 
$
730

 
$
735

Measured at net asset value practical expedient


 


 


Common/collective trust investment — non-U.S. equity


 


 
94

Common/collective trust investment — fixed income


 


 
233

Partnerships/joint ventures


 


 
42

Total fair value


 


 
$
1,104
Schedule of Assumptions Used to Calculate Benefit Expense
The following table presents the significant assumptions used to calculate NRG's benefit obligations:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement Benefits
Weighted-Average Assumptions
2018
 
2017
 
2018
 
2017
Discount rate
4.38
%
 
3.71
%
 
4.37
%
 
3.71
%
Rate of compensation increase
3.00
%
 
3.00
%
 
—
%
 
—

Health care trend rate
—

 
—

 
7.8% grading to 4.5% in 2025


8.2% grading to 4.5% in 2025


The following table presents the significant assumptions used to calculate NRG's benefit expense:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement Benefits
Weighted-Average Assumptions
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Discount rate
3.71%/4.04%

 
4.26
%
 
4.52
%
 
3.71%/4.08%

 
4.29
%
 
4.55
%
Expected return on plan assets
6.17
%
 
6.85
%
 
6.65
%
 
—

 
—

 
—

Rate of compensation increase
3.00
%
 
3.00
%
 
3.00
%
 
—

 
—

 
—

Health care trend rate
—

 
—

 
—

 
8.2% grading to 4.5% in 2025


7.0% grading to 5.0% in 2025


7.25% grading to 5.0% in 2025
Schedule of Target Allocation of Pension Plan Assets
The target allocations of NRG's pension plan assets were as follows for the year ended December 31, 2018:
U.S. equity
22
%
Non-U.S. equity
14
%
Non-core assets
19
%
U.S. fixed income
45
%
Schedule of Performance Benchmarks
Performance benchmarks are composed of the following indices:
Asset Class
 
Index
U.S. equities
 
Dow Jones U.S. Total Stock Market Index
Non-U.S. equities
 
MSCI All Country World Ex-U.S. IMI Index
Non-core assets(a)
 
Various (per underlying asset class)
Fixed income securities
 
Barclays Capital Long Term Government/Credit Index & Barclays Strips 20+ Index
(a)
Non-Core Assets are defined as diversifying asset classes approved by the Investment Committee that are intended to enhance returns and/or reduce volatility of the U.S. and non-U.S. equities. Asset classes considered Non-Core include, but may not be limited to: Emerging Market Equity, Emerging Market Debt, Non-US Developed Market Small Cap, High Yield Fixed Income, Real Estate, Bank Loans, Global Infrastructure and other Alternatives.
Schedule of Expected Benefit Payments
NRG's expected future benefit payments for each of the next five years, and in the aggregate for the five years thereafter, are as follows:
 
 
 
Other Postretirement Benefit
 
Pension
Benefit Payments
 
Benefit Payments
 
Medicare Prescription Drug Reimbursements
 
(In millions)
2019
$
72

 
$
7

 
$
—

2020
76

 
7

 
—

2021
79

 
7

 
—

2022
82

 
6

 
—

2023
85

 
6

 
—

2024-2028
418

 
26

 
1
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. The impact of a one-percentage-point change in assumed health care cost trend rates is immaterial on total service and interest costs components but would have the following effect:
 
1-Percentage-
Point Increase
 
1-Percentage-
Point Decrease
 
(In millions)
Effect on postretirement benefit obligation
5

 
(4
)
Schedule of Benefit Costs and Other Changes Recognized in the Financial Statements Related to its Interest in STP
The Company has recognized the following in its statement of financial position, statement of operations and accumulated OCI related to its 44% interest in STP:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement Benefits
 
2018
 
2017
 
2018
 
2017
 
(In millions)
Funded status — STPNOC benefit plans
$
(78
)
 
$
(76
)
 
$
(19
)
 
$
(24
)
Net periodic benefit cost/(credit)
8

 
8

 
(7
)
 
(3
)
Other changes in plan assets and benefit obligations recognized in other comprehensive (loss)/income
(7
)
 
(6
)
 
2

 
5
Defined Contribution Plan Contributions
The Company's contributions to these plans were as follows:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
(In millions)
Company contributions to defined contribution plans
$
28

 
$
56

 
$
55