XML 38 R19.htm IDEA: XBRL DOCUMENT
v3.20.1

Changes in Capital Structure | 3 Months Ended
--- | ---
Mar. 31, 2020
Equity [Abstract] |
Changes in Capital Structure | Changes in Capital Structure As of March 31, 2020 and December 31, 2019, 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, 2019 | 421,890,790 |  |  | (172,894,601) |  |  | 248,996,189 |
Shares issued under LTIPs | 1,089,103 |  |  | — |  |  | 1,089,103 |
Shares repurchased | — |  |  | (4,461,438) |  |  | (4,461,438) |
Balance as of March 31, 2020 | 422,979,893 |  |  | (177,356,039) |  |  | 245,623,854 |
Shares issued under LTIPs | 1,096 |  |  | — |  |  | 1,096 |
Shares issued under ESPP | — |  |  | 63,455 |  |  | 63,455 |
Shares repurchased | — |  |  | (1,601,345) |  |  | (1,601,345) |
Balance as of May 7, 2020 | 422,980,989 |  |  | (178,893,929) |  |  | 244,087,060 |
Share Repurchases The Company adopted in the fourth quarter of 2019 a long-term capital allocation policy that targets allocating 50% of cash available for allocation generated each year to growth investments and 50% to be returned to shareholders. The return of capital to shareholders is expected to be completed through the increased dividend discussed below, supplemented by share repurchases. The following repurchases have been made during the three months ended March 31, 2020 and through May 7, 2020:
| Total number of shares purchased |  | Average price paid per share |  | Amounts paid for shares purchased (in millions) |  |
2020 repurchases: |  |  |  |  |  |  |
Repurchases | 4,461,438 |  |  |  |  | $ | 150 |  |  |
Equivalent shares purchased in lieu of tax withholdings on equity compensation issuances(a) | 710,063 |  |  |  |  |  | 27 |  |  |
Total Share Repurchases during the three months ended March 31, 2020 | 5,171,501 |  |  | $34.20 |  | 177 |  |  |
Repurchases made subsequent to March 31, 2020 | 1,601,345 |  |  |  |  |  | $ | 47 |  |  |
Total Share Repurchases January 1, 2020 through May 7, 2020 | 6,772,846 |  |  | $33.05 |  | $ | 224 |  |  |
(a) NRG elected to pay cash for tax withholding on equity awards instead of issuing actual shares to management. The average price per equivalent shares withheld was $38.24 Employee Stock Purchase Plan In March 2019, the Company reopened participation in the ESPP, which allows eligible employees to elect to withhold between 1% and 10% of their eligible compensation to purchase shares of NRG common stock at the lesser of 95% of its market value on the offering date or 95% of the fair market value on the exercise date. An offering date will occur each April 1 and October 1. An exercise date will occur each September 30 and March 31. In April 2020, 63,455 shares of common stock were issued to employee accounts from treasury stock for the offering period of October 1, 2019 to March 31, 2020. NRG Common Stock Dividends Beginning in the first quarter of 2020, NRG increased the annual dividend to $1.20 from $0.12 per share and expects to target an annual dividend growth rate of 7-9% per share in subsequent years. A quarterly dividend of $0.30 per share was paid on the Company's common stock during the three months ended March 31, 2020. On April 15, 2020, NRG declared a quarterly dividend on the Company's common stock of $0.30 per share, payable May 15, 2020 to stockholders of record as of May 1, 2020. The Company's common stock dividends are subject to available capital, market conditions, and compliance with associated laws, regulations and other contractual obligations.

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

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration