XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.19.1

Debt and Capital Leases | 3 Months Ended
--- | ---
Mar. 31, 2019
Debt Disclosure [Abstract] |
Debt and Capital Leases | Debt and Capital Leases Long-term debt and capital leases consisted of the following:
(In millions, except rates) | March 31, 2019 |  | December 31, 2018 |  | March 31, 2019 interest rate %(a)
Recourse debt: |  |  |  |  |
Senior Notes, due 2024 | $ | 733 |  |  | $ | 733 |  |  | 6.250
Senior Notes, due 2026 | 1,000 |  |  | 1,000 |  |  | 7.250
Senior Notes, due 2027 | 1,230 |  |  | 1,230 |  |  | 6.625
Senior Notes, due 2028 | 821 |  |  | 821 |  |  | 5.750
Convertible Senior Notes, due 2048 | 575 |  |  | 575 |  |  | 2.750
Term loan facility, due 2023 | 1,694 |  |  | 1,698 |  |  | L+1.75
Tax-exempt bonds | 466 |  |  | 466 |  |  | 4.125 - 6.00
Subtotal recourse debt | 6,519 |  |  | 6,523 |  |  |
Non-recourse debt: |  |  |  |  |
Agua Caliente Borrower 1, due 2038 | 83 |  |  | 86 |  |  | 5.430
Midwest Generation, due 2019 | 20 |  |  | 48 |  |  | 4.390
Other | 34 |  |  | 34 |  |  | various
Subtotal all non-recourse debt | 137 |  |  | 168 |  |  |
Subtotal long-term debt (including current maturities) | 6,656 |  |  | 6,691 |  |  |
Capital leases | 1 |  |  | 1 |  |  | various
Subtotal long-term debt and capital leases (including current maturities) | 6,657 |  |  | 6,692 |  |  |
Less current maturities | (124 | ) |  | (72 | ) |  |
Less debt issuance costs | (69 | ) |  | (70 | ) |  |
Discounts | (98 | ) |  | (101 | ) |  |
Total long-term debt and capital leases | $ | 6,366 |  |  | $ | 6,449 |  |  |
(a) As of March 31, 2019, L+ equals 1-month LIBOR plus 1.75% Agua Caliente Borrower 1 On January 22, 2019, the lenders of the Agua Caliente Borrower 1 debt notified Agua Caliente Borrower 1, a subsidiary of the Company, of certain defaults under the financing agreement as it relates to the bankruptcy filing made by PG&E on January 29, 2019. PG&E is the offtaker of the underlying contracts, which are material to the project. The financing was entered into along with Agua Caliente Borrower 2, LLC, a subsidiary of Clearway Energy Inc., which is joint and several to the parties. The Company is working with the lenders to determine a path forward. Cottonwood - Letters of Credit On January 4, 2019, the Company entered into an $80 million credit agreement to issue letters of credit, which is currently supporting the Cottonwood facility lease. Annual fees of 1.33% on the facility are paid quarterly in advance. As of March 31, 2019, the full $80 million is issued.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration