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Condensed Consolidating Financial Information

6 Months Ended

Jun. 30, 2020

Condensed Consolidating Financial Information Disclosure [Abstract]

Condensed Consolidating Financial Information

Condensed Consolidating Financial Information As of June 30, 2020, the Company had outstanding $4.4 billion of Senior Notes and Convertible Senior Notes due from 2026 to 2048 and outstanding $1.1 billion of Senior Secured Notes due from 2024 to 2029, as shown in Note 9, Long-term Debt. These Senior Notes and Senior Secured Notes are guaranteed by certain of NRG's current and future 100% owned domestic subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include all of NRG's foreign subsidiaries and certain domestic subsidiaries.

Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes, Convertible Senior Notes and Senior Secured Notes as of June 30, 2020:

Ace Energy, Inc.			NRG Distributed Energy Resources Holdings LLC			Reliant Energy Retail Services, LLC
Allied Home Warranty GP LLC			NRG Distributed Generation PR LLC			RERH Holdings, LLC
Allied Warranty LLC			NRG Dunkirk Operations Inc.			Saguaro Power LLC
Arthur Kill Power LLC			NRG ECOKAP Holdings LLC			SGE Energy Sourcing, LLC
Astoria Gas Turbine Power LLC			NRG El Segundo Operations Inc.			SGE Texas Holdco, LLC
BidURenergy, Inc.			NRG Energy Labor Services LLC			Somerset Operations Inc.
Cabrillo Power I LLC			NRG Energy Services Group LLC			Somerset Power LLC
Cabrillo Power II LLC			NRG Energy Services LLC			Stream Energy Columbia, LLC
Carbon Management Solutions LLC			NRG Generation Holdings Inc.			Stream Energy Delaware, LLC
Cirro Energy Services, Inc.			NRG Greenco LLC			Stream Energy Illinois, LLC
Cirro Group, Inc.			NRG Home & Business Solutions LLC			Stream Energy Maryland, LLC
Connecticut Jet Power LLC			NRG Home Services LLC			Stream Energy New Jersey, LLC
Devon Power LLC			NRG Home Solutions LLC			Stream Energy New York, LLC
Dunkirk Power LLC			NRG Home Solutions Product LLC			Stream Energy Pennsylvania, LLC
Eastern Sierra Energy Company LLC			NRG Homer City Services LLC			Stream Georgia Gas SPE, LLC
El Segundo Power II LLC			NRG HQ DG LLC			Stream Ohio Gas & Electric, LLC
El Segundo Power, LLC			NRG Huntley Operations Inc.			Stream SPE GP, LLC
Energy Alternatives Wholesale, LLC			NRG Identity Protect LLC			Stream SPE, Ltd.
Energy Choice Solutions LLC			NRG Ilion Limited Partnership			Texas Genco GP, LLC
Energy Plus Holdings LLC			NRG Ilion LP LLC			Texas Genco Holdings, Inc.
Energy Plus Natural Gas LLC			NRG International LLC			Texas Genco LP, LLC
Energy Protection Insurance Company			NRG Maintenance Services LLC			Texas Genco Services, LP
Everything Energy LLC			NRG Mextrans Inc.			US Retailers LLC
Forward Home Security, LLC			NRG Middletown Operations Inc.			Vienna Operations Inc.
GCP Funding Company, LLC			NRG Montville Operations Inc.			Vienna Power LLC
Green Mountain Energy Company			NRG North Central Operations Inc.			WCP (Generation) Holdings LLC
Gregory Partners, LLC			NRG Norwalk Harbor Operations Inc.			West Coast Power LLC
Gregory Power Partners LLC			NRG Operating Services, Inc.			XOOM Alberta Holdings, LLC
Huntley Power LLC			NRG Oswego Harbor Power Operations Inc.			XOOM British Columbia Holdings, LLC
Independence Energy Alliance LLC			NRG Portable Power LLC			XOOM Energy California, LLC
Independence Energy Group LLC			NRG Power Marketing LLC			XOOM Energy Connecticut, LLC
Independence Energy Natural Gas LLC			NRG Reliability Solutions LLC			XOOM Energy Delaware, LLC
Indian River Operations Inc.			NRG Renter's Protection LLC			XOOM Energy Georgia, LLC
Indian River Power LLC			NRG Retail LLC			XOOM Energy Global Holdings, LLC
Meriden Gas Turbines LLC			NRG Retail Northeast LLC			XOOM Energy Illinois LLC
Middletown Power LLC			NRG Rockford Acquisition LLC			XOOM Energy Indiana, LLC
Montville Power LLC			NRG Saguaro Operations Inc.			XOOM Energy Kentucky, LLC
NEO Corporation			NRG Security LLC			XOOM Energy Maine, LLC
New Genco GP, LLC			NRG Services Corporation			XOOM Energy Maryland, LLC
Norwalk Power LLC			NRG SimplySmart Solutions LLC			XOOM Energy Massachusetts, LLC
NRG Advisory Services LLC			NRG South Central Operations Inc.			XOOM Energy Michigan, LLC
NRG Affiliate Services Inc.			NRG South Texas LP			XOOM Energy New Hampshire, LLC
NRG Arthur Kill Operations Inc.			NRG Texas Gregory LLC			XOOM Energy New Jersey, LLC
NRG Astoria Gas Turbine Operations Inc.			NRG Texas Holding Inc.			XOOM Energy New York, LLC
NRG Business Services LLC			NRG Texas LLC			XOOM Energy Ohio, LLC
NRG Cabrillo Power Operations Inc.			NRG Texas Power LLC			XOOM Energy Pennsylvania, LLC
NRG California Peaker Operations LLC			NRG Warranty Services LLC			XOOM Energy Rhode Island, LLC
NRG Cedar Bayou Development Company, LLC			NRG West Coast LLC			XOOM Energy Texas, LLC
NRG Connected Home LLC			NRG Western Affiliate Services Inc.			XOOM Energy Virginia, LLC
NRG Construction LLC			Oswego Harbor Power LLC			XOOM Energy Washington D.C., LLC
NRG Curtailment Solutions, Inc.			Reliant Energy Northeast LLC			XOOM Energy, LLC
NRG Development Company Inc.			Reliant Energy Power Supply, LLC			XOOM Ontario Holdings, LLC
NRG Devon Operations Inc.			Reliant Energy Retail Holdings, LLC			XOOM Solar, LLC
NRG Dispatch Services LLC

NRG conducts much of its business through and derives much of its income from its subsidiaries. Therefore, the Company's ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and NRG's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to NRG. However, there may be restrictions for certain non-guarantor subsidiaries.

The following condensed consolidating financial information presents the financial information of NRG Energy, Inc., the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 of Regulation S-X of the Securities Act. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities.

In this presentation, NRG Energy, Inc. consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of NRG are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis.

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the three months ended June 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Operating Revenues
Total operating revenues			$	2,055					$	181					$	—					$	2					$	2,238
Operating Costs and Expenses
Cost of operations			1,271						154						7						2						1,434
Depreciation and amortization			80						20						10						—						110
Selling, general and administrative costs			137						7						64						—						208
Development costs			—						1						1						—						2
Total operating costs and expenses			1,488						182						82						2						1,754
Operating Income/(Loss)			567						(1)						(82)						—						484
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries			3						—						583						(586)						—
Equity in earnings of unconsolidated affiliates			—						12						—						—						12
Other income, net			7						5						2						—						14
Interest expense			(4)						(2)						(90)						—						(96)
Total other income/(expense)			6						15						495						(586)						(70)
Income from Continuing Operations Before Income Taxes			573						14						413						(586)						414
Income tax expense			—						1						100						—						101
Net Income			$	573					$	13					$	313					$	(586)					$	313

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the six months ended June 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Operating Revenues
Total operating revenues			$	3,833					$	433					$	—					$	(9)					$	4,257
Operating Costs and Expenses
Cost of operations			2,561						356						(17)						(9)						2,891
Depreciation and amortization			160						39						20						—						219
Selling, general and administrative costs			277						12						128						—						417
Reorganization costs			—						—						3						—						3
Development costs			—						1						4						—						5
Total operating costs and expenses			2,998						408						138						(9)						3,535
Gain on sale of assets			—						1						5						—						6
Operating Income/(Loss)			835						26						(133)						—						728
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries			6						—						845						(851)						—
Equity in earnings of unconsolidated affiliates			—						1						—						—						1
Impairment losses on investments			—						(18)						—						—						(18)
Other income, net			10						4						27						—						41
Loss on debt extinguishment, net			—						—						(1)						—						(1)
Interest expense			(9)						(3)						(181)						—						(193)
Total other income/(expense)			7						(16)						690						(851)						(170)
Income from Continuing Operations Before Income Taxes			842						10						557						(851)						558
Income tax expense			—						1						123						—						124
Net Income			$	842					$	9					$	434					$	(851)					$	434

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

For the three months ended June 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Net Income			$	573					$	13					$	313					$	(586)					$	313
Other Comprehensive Income
Foreign currency translation adjustments, net			12						13						13						(25)						13
Defined benefit plans, net			1						—						—						(1)						—
Other comprehensive income			13						13						13						(26)						13
Comprehensive Income			$	586					$	26					$	326					$	(612)					$	326

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the six months ended June 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Net Income			$	842					$	9					$	434					$	(851)					$	434
Other Comprehensive Loss
Foreign currency translation adjustments, net			(3)						(2)						(2)						5						(2)
Defined benefit plans, net			3						—						—						(3)						—
Other comprehensive loss			—						(2)						(2)						2						(2)
Comprehensive Income			$	842					$	7					$	432					$	(849)					$	432

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

June 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
ASSETS
Current Assets
Cash and cash equivalents			$	—					$	20					$	398					$	—					$	418
Funds deposited by counterparties			36						—						—						—						36
Restricted cash			7						—						1						—						8
Accounts receivable, net			987						111						1,267						(1,350)						1,015
Inventory			306						82						—						—						388
Derivative instruments			789						22						—						(20)						791
Cash collateral paid in support of energy risk management activities			133						3						—						—						136
Prepayments and other current assets			247						10						27						—						284
Total current assets			2,505						248						1,693						(1,370)						3,076
Property, plant and equipment, net			1,336						1,046						151						—						2,533
Other Assets
Investment in subsidiaries			170						—						4,525						(4,695)						—
Equity investments in affiliates			—						372						—						—						372
Operating lease right-of-use assets, net			73						244						112						—						429
Goodwill			400						179						—						—						579
Intangible assets, net			695						38						—						—						733
Nuclear decommissioning trust fund			794						—						—						—						794
Derivative instruments			439						9						—						(9)						439
Deferred income taxes			435						(33)						2,768						—						3,170
Other non-current assets			150						27						35						—						212
Total other assets			3,156						836						7,440						(4,704)						6,728
Total Assets			$	6,997					$	2,130					$	9,284					$	(6,074)					$	12,337
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt			$	3					$	4					$	—					$	—					$	7
Current portion of operating lease liabilities			19						31						19						—						69
Accounts payable			809						187						1,090						(1,350)						736
Derivative instruments			739						9						—						(20)						728
Cash collateral received in support of energy risk management activities			36						—						—						—						36
Accrued expenses and other current liabilities			296						31						254						—						581
Total current liabilities			1,902						262						1,363						(1,370)						2,157
Other Liabilities
Long-term debt			245						24						5,541						—						5,810
Non-current operating lease liabilities			58						290						110						—						458
Nuclear decommissioning reserve			307						—						—						—						307
Nuclear decommissioning trust liability			478						—						—						—						478
Derivative instruments			307						1						—						(9)						299
Deferred income taxes			—						17						—						—						17
Other non-current liabilities			421						120						520						—						1,061
Total other liabilities			1,816						452						6,171						(9)						8,430
Total Liabilities			3,718						714						7,534						(1,379)						10,587
Stockholders’ Equity			3,279						1,416						1,750						(4,695)						1,750
Total Liabilities and Stockholders’ Equity			$	6,997					$	2,130					$	9,284					$	(6,074)					$	12,337

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the six months ended June 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Cash Flows from Operating Activities
Net income			$	842					$	9					$	434					$	(851)					$	434
Adjustments to reconcile net income/(loss) to cash provided by operating activities:
Distributions from and equity in earnings/(losses) of unconsolidated affiliates and consolidated subsidiaries			(6)						7						(845)						851						7
Depreciation and amortization			160						39						20						—						219
Accretion of asset retirement obligations			10						8						—						—						18
Provision for credit losses			47						1						—						—						48
Amortization of nuclear fuel			25						—						—						—						25
Amortization of financing costs and debt discount/premiums			—						—						12						—						12
Loss on debt extinguishment, net			—						—						1						—						1
Amortization of emission allowances and energy credits			24						9						—						—						33
Amortization of unearned equity compensation			—						—						12						—						12
Net gain on sale of assets and disposal of assets			(9)						(1)						(5)						—						(15)
Impairment losses			—						18						—						—						18
Changes in derivative instruments			(144)						13						—						—						(131)
Changes in deferred income taxes and liability for uncertain tax benefits			1,212						(154)						(942)						—						116
Changes in collateral deposits in support of energy risk management activities			53						5						—						—						58
Changes in nuclear decommissioning trust liability			36						—						—						—						36
Changes in other working capital			(124)						(19)						(56)						—						(199)
Net Cash Provided/(Used) by Operating Activities			2,126						(65)						(1,369)						—						692
Cash Flows from Investing Activities
Intercompany dividends			—						—						1,889						(1,889)						—
Payments for acquisitions of businesses			(5)						—						—						—						(5)
Capital expenditures			(78)						(20)						(18)						—						(116)
Net purchases of emission allowances			(4)						—						—						—						(4)
Investments in nuclear decommissioning trust fund securities			(257)						—						—						—						(257)
Proceeds from the sale of nuclear decommissioning trust fund securities			220						—						—						—						220
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees			10						—						5						—						15
Net contributions to investments in unconsolidated affiliates			—						2						—						—						2
Net Cash (Used)/Provided by Investing Activities			(114)						(18)						1,876						(1,889)						(145)
Cash Flows from Financing Activities
Intercompany dividends and transfers			(1,941)						86						(34)						1,889						—
Payments of dividends to common stockholders			—						—						(148)						—						(148)
Payments for share repurchase activity			—						—						(229)						—						(229)
Purchase of and distributions to noncontrolling interests from subsidiaries			—						(2)						—						—						(2)
Proceeds from issuance of common stock			—						—						1						—						1
Proceeds from issuance of long-term debt			—						—						59						—						59
Payment of debt issuance costs			—						—						(1)						—						(1)
Repayments of long-term debt			(60)						(1)						—						—						(61)
Net repayment of Revolving Credit Facility			—						—						(83)						—						(83)
Other			(5)						—						—						—						(5)
Net Cash (Used)/Provided by Financing Activities			(2,006)						83						(435)						1,889						(469)
Effect of exchange rate changes on cash and cash equivalents			—						(1)						—						—						(1)
Net Increase/(Decrease) in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash			6						(1)						72						—						77
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period			37						21						327						—						385
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period			$	43					$	20					$	399					$	—					$	462

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the three months ended June 30, 2019

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Operating Revenues
Total operating revenues			$	2,140					$	332					$	—					$	(7)					$	2,465
Operating Costs and Expenses
Cost of operations			1,590						252						10						(7)						1,845
Depreciation and amortization			51						26						8						—						85
Impairment losses			1						—						—						—						1
Selling, general and administrative costs			112						12						87						—						211
Reorganization costs			—						—						2						—						2
Development costs			—						1						1						—						2
Total operating costs and expenses			1,754						291						108						(7)						2,146
Gain on sale of assets			—						1						—						—						1
Operating Income/(Loss)			386						42						(108)						—						320
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries			2						—						430						(432)						—
Other income, net			4						8						8						—						20
Loss on debt extinguishment, net			—						—						(47)						—						(47)
Interest expense			(3)						(5)						(97)						—						(105)
Total other income/(expense)			3						3						294						(432)						(132)
Income from Continuing Operations Before Income Taxes			389						45						186						(432)						188
Income tax expense/(benefit)			—						1						(2)						—						(1)
Income from Continuing Operations			389						44						188						(432)						189
Income from discontinued operations, net of income tax			—						—						13						—						13
Net Income			389						44						201						(432)						202
Less: Net income attributable to noncontrolling interest and redeemable noncontrolling interest			—						1						—						—						1
Net Income Attributable to NRG Energy, Inc.			$	389					$	43					$	201					$	(432)					$	201

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the six months ended June 30, 2019

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Operating Revenues
Total operating revenues			$	3,909					$	727					$	—					$	(6)					$	4,630
Operating Costs and Expenses
Cost of operations			2,948						535						19						(6)						3,496
Depreciation and amortization			105						49						16						—						170
Impairment losses			1						—						—						—						1
Selling, general and administrative costs			234						28						143						—						405
Reorganization costs			—						—						15						—						15
Development costs			—						1						3						—						4
Total operating costs and expenses			3,288						613						196						(6)						4,091
Gain on sale of assets			1						1						—						—						2
Operating Income/(Loss)			622						115						(196)						—						541
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries			12						—						729						(741)						—
Equity in losses of unconsolidated affiliates			—						(21)						—						—						(21)
Other income, net			8						9						15						—						32
Loss on debt extinguishment, net			—						—						(47)						—						(47)
Interest expense			(7)						(9)						(203)						—						(219)
Total other income/(expense)			13						(21)						494						(741)						(255)
Income from Continuing Operations Before Income Taxes			635						94						298						(741)						286
Income tax expense			—						1						2						—						3
Income from Continuing Operations			635						93						296						(741)						283
Income from discontinued operations, net of income tax			9						5						387						—						401
Net Income			644						98						683						(741)						684
Less: Net income attributable to noncontrolling interest and redeemable noncontrolling interest			—						1						—						—						1
Net Income Attributable to NRG Energy, Inc.			$	644					$	97					$	683					$	(741)					$	683

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the three months ended June 30, 2019

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Net Income			$	389					$	44					$	201					$	(432)					$	202
Other Comprehensive Loss
Foreign currency translation adjustments, net			(1)						(1)						(1)						2						(1)
Available-for-sale securities, net			—						—						1						—						1
Defined benefit plans, net			—						—						(3)						—						(3)
Other comprehensive loss			(1)						(1)						(3)						2						(3)
Comprehensive Income			388						43						198						(430)						199
Less: Comprehensive income attributable to redeemable noncontrolling interest			—						1						—						—						1
Comprehensive Income Attributable to NRG Energy, Inc.			$	388					$	42					$	198					$	(430)					$	198

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the six months ended June 30, 2019

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Net Income			$	644					$	98					$	683					$	(741)					$	684
Other Comprehensive Loss
Available-for-sale securities, net			—						—						1						—						1
Defined benefit plans, net			—						—						(6)						—						(6)
Other comprehensive loss			—						—						(5)						—						(5)
Comprehensive Income			644						98						678						(741)						679
Less: Comprehensive income attributable to redeemable noncontrolling interest			—						1						—						—						1
Comprehensive Income Attributable to NRG Energy, Inc.			$	644					$	97					$	678					$	(741)					$	678

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

December 31, 2019

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
ASSETS
Current Assets
Cash and cash equivalents			$	—					$	20					$	325					$	—					$	345
Funds deposited by counterparties			32						—						—						—						32
Restricted cash			5						1						2						—						8
Accounts receivable, net			1,293						239						233						(740)						1,025
Inventory			272						111						—						—						383
Derivative instruments			856						45						—						(41)						860
Cash collateral paid in support of energy risk management activities			182						8						—						—						190
Prepayments and other current assets			170						8						67						—						245
Total current assets			2,810						432						627						(781)						3,088
Property, plant and equipment, net			1,483						952						158						—						2,593
Other Assets
Investment in subsidiaries			710						—						4,785						(5,495)						—
Equity investments in affiliates			—						388						—						—						388
Operating lease right-of-use assets, net			81						261						122						—						464
Goodwill			359						220						—						—						579
Intangible assets, net			375						414						—						—						789
Nuclear decommissioning trust fund			794						—						—						—						794
Derivative instruments			308						15						—						(13)						310
Deferred income taxes			421						(19)						2,884						—						3,286
Other non-current assets			145						30						65						—						240
Total other assets			3,193						1,309						7,856						(5,508)						6,850
Total Assets			$	7,486					$	2,693					$	8,641					$	(6,289)					$	12,531
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt			$	—					$	5					$	83					$	—					$	88
Current portion of operating lease liabilities			20						32						21						—						73
Accounts payable			918						141						403						(740)						722
Derivative instruments			797						25						—						(41)						781
Cash collateral received in support of energy risk management activities			32						—						—						—						32
Accrued expenses and other current liabilities			280						44						339						—						663
Total current liabilities			2,047						247						846						(781)						2,359
Other Liabilities
Long-term debt			302						28						5,473						—						5,803
Non-current operating lease liabilities			64						301						118						—						483
Nuclear decommissioning reserve			298						—						—						—						298
Nuclear decommissioning trust liability			487						—						—						—						487
Derivative instruments			334						1						—						(13)						322
Deferred income taxes			—						17						—						—						17
Other non-current liabilities			399						153						532						—						1,084
Total other liabilities			1,884						500						6,123						(13)						8,494
Total Liabilities			3,931						747						6,969						(794)						10,853
Redeemable noncontrolling interest in subsidiaries			—						20						—						—						20
Stockholders’ Equity			3,555						1,926						1,672						(5,495)						1,658
Total Liabilities and Stockholders’ Equity			$	7,486					$	2,693					$	8,641					$	(6,289)					$	12,531

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the six months ended June 30, 2019

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Cash Flows from Operating Activities
Net income			$	644					$	98					$	683					$	(741)					$	684
Income from discontinued operations			9						5						387						—						401
Income from continuing operations			635						93						296						(741)						283
Adjustments to reconcile net income to cash provided by operating activities:
Distributions from and equity in earnings/(losses) of unconsolidated affiliates and consolidated subsidiaries			(12)						22						(729)						741						22
Depreciation and amortization			104						50						16						—						170
Accretion of asset retirement obligations			11						3						—						—						14
Provision for credit losses			42						4						6						—						52
Amortization of nuclear fuel			27						—						—						—						27
Amortization of financing costs and debt discount/premiums			—						—						13						—						13
Loss on debt extinguishment, net			—						—						47						—						47
Amortization of emission allowances and energy credits			13						1						—						—						14
Amortization of unearned equity compensation			—						—						10						—						10
Net loss on sale of assets and disposal of assets			(3)						1						3						—						1
Impairment losses			1						—						—						—						1
Changes in derivative instruments			(28)						(32)						38						—						(22)
Changes in deferred income taxes and liability for uncertain tax benefits			—						(3)						(2)						—						(5)
Changes in collateral deposits in support of energy risk management activities			128						(3)						—						—						125
Changes in nuclear decommissioning trust liability			17						—						—						—						17
Changes in other working capital			(343)						(64)						55						—						(352)
Cash provided/(used) by continuing operations			592						72						(247)						—						417
Cash provided/(used) by discontinued operations			17						(9)						—						—						8
Net Cash Provided/(Used) by Operating Activities			609						63						(247)						—						425
Cash Flows from Investing Activities
Intercompany dividends			—						—						2,209						(2,209)						—
Payments for acquisitions of businesses			(21)						—						—						—						(21)
Capital expenditures			(77)						(15)						(15)						—						(107)
Net purchases of emission allowances			(1)						—						—						—						(1)
Investments in nuclear decommissioning trust fund securities			(209)						—						—						—						(209)
Proceeds from the sale of nuclear decommissioning trust fund securities			191						—						—						—						191
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees			1						400						888						—						1,289
Net distributions from investments in unconsolidated affiliates			—						7						—						—						7
Contributions to discontinued operations			—						(44)						—						—						(44)
Cash (used)/provided by continuing operations			(116)						348						3,082						(2,209)						1,105
Cash used by discontinued operations			—						(2)						—						—						(2)
Net Cash (Used)/Provided by Investing Activities			(116)						346						3,082						(2,209)						1,103
Cash Flows from Financing Activities
Intercompany dividends and transfers			(532)						(375)						(1,302)						2,209						—
Payment of dividends to common stockholders			—						—						(16)						—						(16)
Payments for share repurchase activity			—						—						(1,075)						—						(1,075)
Payments for debt extinguishment			—						—						(24)						—						(24)
Net distributions to noncontrolling interests from subsidiaries			—						(1)						—						—						(1)
Proceeds from issuance of common stock			—						—						2						—						2
Proceeds from issuance of long-term debt			—						—						1,833						—						1,833
Payment of debt issuance costs			—						—						(33)						—						(33)
Payments for long-term debt			—						(53)						(2,432)						—						(2,485)
Cash used by continuing operations			(532)						(429)						(3,047)						2,209						(1,799)
Cash provided by discontinued operations			—						43						—						—						43
Net Cash Used by Financing Activities			(532)						(386)						(3,047)						2,209						(1,756)
Change in cash from discontinued operations			17						32						—						—						49
Net Decrease in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash			(56)						(9)						(212)						—						(277)
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period			95						38						480						—						613
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period			$	39					$	29					$	268					$	—					$	336

(a)All significant intercompany transactions have been eliminated in consolidation

X

- Definition

-- None. No documentation exists for this element. --

+ References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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