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Condensed Consolidating Financial Information

9 Months Ended

Sep. 30, 2020

Condensed Consolidating Financial Information Disclosure [Abstract]

Condensed Consolidating Financial Information

Condensed Consolidating Financial Information

As of September 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 10, 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.

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.

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 September 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 ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the three months ended September 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Operating Revenues
Total operating revenues			$	2,513					$	297					$	—					$	(1)					$	2,809
Operating Costs and Expenses
Cost of operations			1,796						230						9						(1)						2,034
Depreciation and amortization			72						21						6						—						99
Impairment losses			—						29						—						—						29
Selling, general and administrative costs			154						7						92						—						253
Development costs			—						(1)						2						—						1
Total operating costs and expenses			2,022						286						109						(1)						2,416
Operating Income/(Loss)			491						11						(109)						—						393
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries			—						—						540						(540)						—
Equity in earnings of unconsolidated affiliates			—						36						—						—						36
Other income, net			4						2						5						—						11
Interest expense			(3)						—						(96)						—						(99)
Total other income/(expense)			1						38						449						(540)						(52)
Income from Continuing Operations Before Income Taxes			492						49						340						(540)						341
Income tax expense			—						1						91						—						92
Net Income			$	492					$	48					$	249					$	(540)					$	249

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

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the nine months ended September 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Operating Revenues
Total operating revenues			$	6,346					$	730					$	—					$	(10)					$	7,066
Operating Costs and Expenses
Cost of operations			4,357						586						(8)						(10)						4,925
Depreciation and amortization			232						60						26						—						318
Impairment losses			—						29						—						—						29
Selling, general and administrative costs			431						19						220						—						670
Reorganization costs			—						—						3						—						3
Development costs			—						—						6						—						6
Total operating costs and expenses			5,020						694						247						(10)						5,951
Gain on sale of assets			—						1						5						—						6
Operating Income/(Loss)			1,326						37						(242)						—						1,121
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries			6						—						1,385						(1,391)						—
Equity in earnings of unconsolidated affiliates			—						37						—						—						37
Impairment losses on investments			—						(18)						—						—						(18)
Other income, net			14						6						32						—						52
Loss on debt extinguishment, net			—						—						(1)						—						(1)
Interest expense			(12)						(3)						(277)						—						(292)
Total other income/(expense)			8						22						1,139						(1,391)						(222)
Income from Continuing Operations Before Income Taxes			1,334						59						897						(1,391)						899
Income tax expense			—						2						214						—						216
Net Income			$	1,334					$	57					$	683					$	(1,391)					$	683

(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 September 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Net Income			$	492					$	48					$	249					$	(540)					$	249
Other Comprehensive Income
Foreign currency translation adjustments, net			5						3						4						(8)						4
Defined benefit plans, net			2						—						—						(2)						—
Other comprehensive income			7						3						4						(10)						4
Comprehensive Income			$	499					$	51					$	253					$	(550)					$	253

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

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2020

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Net Income			$	1,334					$	57					$	683					$	(1,391)					$	683
Other Comprehensive Income
Foreign currency translation adjustments, net			2						1						2						(3)						2
Defined benefit plans, net			5						—						—						(5)						—
Other comprehensive income			7						1						2						(8)						2
Comprehensive Income			$	1,341					$	58					$	685					$	(1,399)					$	685

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

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

September 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			$	—					$	23					$	674					$	—					$	697
Funds deposited by counterparties			15						—						—						—						15
Restricted cash			5						—						1						—						6
Accounts receivable, net			650						1,034						805						(1,363)						1,126
Inventory			253						77						—						—						330
Derivative instruments			582						14						—						(18)						578
Cash collateral paid in support of energy risk management activities			74						3						—						—						77
Prepayments and other current assets			238						16						4						—						258
Total current assets			1,817						1,167						1,484						(1,381)						3,087
Property, plant and equipment, net			1,270						1,159						144						—						2,573
Other Assets
Investment in subsidiaries			28						—						4,981						(5,009)						—
Equity investments in affiliates			—						376						—						—						376
Operating lease right-of-use assets, net			68						167						110						—						345
Goodwill			400						179						—						—						579
Intangible assets, net			684						37						—						—						721
Nuclear decommissioning trust fund			828						—						—						—						828
Derivative instruments			315						10						—						(10)						315
Deferred income taxes			435						(32)						2,684						—						3,087
Other non-current assets			168						110						36						—						314
Total other assets			2,926						847						7,811						(5,019)						6,565
Total Assets			$	6,013					$	3,173					$	9,439					$	(6,400)					$	12,225
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt			$	3					$	—					$	—					$	—					$	3
Current portion of operating lease liabilities			18						33						18						—						69
Accounts payable			933						144						1,039						(1,363)						753
Derivative instruments			505						8						—						(18)						495
Cash collateral received in support of energy risk management activities			15						—						—						—						15
Accrued expenses and other current liabilities			275						71						305						—						651
Total current liabilities			1,749						256						1,362						(1,381)						1,986
Other Liabilities
Long-term debt			245						—						5,547						—						5,792
Non-current operating lease liabilities			56						134						107						—						297
Nuclear decommissioning reserve			311						—						—						—						311
Nuclear decommissioning trust liability			508						—						—						—						508
Derivative instruments			326						2						—						(10)						318
Deferred income taxes			—						17						—						—						17
Other non-current liabilities			307						266						489						—						1,062
Total other liabilities			1,753						419						6,143						(10)						8,305
Total Liabilities			3,502						675						7,505						(1,391)						10,291
Stockholders’ Equity			2,511						2,498						1,934						(5,009)						1,934
Total Liabilities and Stockholders’ Equity			$	6,013					$	3,173					$	9,439					$	(6,400)					$	12,225

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

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the nine months ended September 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			$	1,334					$	57					$	683					$	(1,391)					$	683
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)						6						(1,385)						1,391						6
Depreciation and amortization			232						60						26						—						318
Accretion of asset retirement obligations			19						27						—						—						46
Provision for credit losses			66						8						—						—						74
Amortization of nuclear fuel			40						—						—						—						40
Amortization of financing costs and debt discount/premiums			—						—						23						—						23
Loss on debt extinguishment, net			—						—						1						—						1
Amortization of emission allowances and energy credits			46						14						—						—						60
Amortization of unearned equity compensation			—						—						17						—						17
Net gain on sale of assets and disposal of assets			(16)						(1)						(5)						—						(22)
Impairment losses			—						47						—						—						47
Changes in derivative instruments			(27)						20						—						—						(7)
Changes in deferred income taxes and liability for uncertain tax benefits			(52)						11						243						—						202
Changes in collateral deposits in support of energy risk management activities			91						5						—						—						96
Changes in nuclear decommissioning trust liability			39						—						—						—						39
Changes in other working capital			355						(923)						331						—						(237)
Net Cash Provided/(Used) by Operating Activities			2,121						(669)						(66)						—						1,386
Cash Flows from Investing Activities
Intercompany dividends			—						—						2,591						(2,591)						—
Payments for acquisitions of businesses			(15)						(262)						—						—						(277)
Capital expenditures			(115)						(28)						(24)						—						(167)
Net purchases of emission allowances			(15)						—						—						—						(15)
Investments in nuclear decommissioning trust fund securities			(360)						—						—						—						(360)
Proceeds from the sale of nuclear decommissioning trust fund securities			318						—						—						—						318
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees			8						2						5						—						15
Net contributions to investments in unconsolidated affiliates			—						2						—						—						2
Net Cash (Used)/Provided by Investing Activities			(179)						(286)						2,572						(2,591)						(484)
Cash Flows from Financing Activities
Intercompany dividends and transfers			(1,894)						964						(1,661)						2,591						—
Payments of dividends to common stockholders			—						—						(221)						—						(221)
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			—						—						(24)						—						(24)
Repayments of long-term debt			(59)						(3)						—						—						(62)
Net repayment of Revolving Credit Facility			—						—						(83)						—						(83)
Other			(6)						—						—						—						(6)
Net Cash (Used)/Provided by Financing Activities			(1,959)						959						(2,158)						2,591						(567)
Effect of exchange rate changes on cash and cash equivalents			—						(2)						—						—						(2)
Net (Decrease)/Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash			(17)						2						348						—						333
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			$	20					$	23					$	675					$	—					$	718

(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 September 30, 2019

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Operating Revenues
Total operating revenues			$	2,473					$	525					$	—					$	(2)					$	2,996
Operating Costs and Expenses
Cost of operations			1,728						421						6						(2)						2,153
Depreciation and amortization			52						32						7						—						91
Selling, general and administrative costs			132						28						50						—						210
Reorganization costs			—						—						1						—						1
Development costs			—						—						1						—						1
Total operating costs and expenses			1,912						481						65						(2)						2,456
Operating Income/(Loss)			561						44						(65)						—						540
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries			20						—						537						(557)						—
Equity in earnings of unconsolidated affiliates			—						29						—						—						29
Impairment losses on investments			—						(101)						(6)						—						(107)
Other income, net			11						1						5						—						17
Interest expense			(4)						(3)						(92)						—						(99)
Total other income/(expense)			27						(74)						444						(557)						(160)
Income/(Loss) from Continuing Operations Before Income Taxes			588						(30)						379						(557)						380
Income tax expense			—						1						5						—						6
Income/(Loss) from Continuing Operations			588						(31)						374						(557)						374
Loss from discontinued operations, net of income tax			—						—						(2)						—						(2)
Net Income Attributable to NRG Energy, Inc.			$	588					$	(31)					$	372					$	(557)					$	372

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

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the nine months ended September 30, 2019

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Operating Revenues
Total operating revenues			$	6,382					$	1,252					$	—					$	(8)					$	7,626
Operating Costs and Expenses
Cost of operations			4,676						956						25						(8)						5,649
Depreciation and amortization			157						81						23						—						261
Impairment losses			1						—						—						—						1
Selling, general and administrative costs			366						56						193						—						615
Reorganization costs			—						—						16						—						16
Development costs			—						1						4						—						5
Total operating costs and expenses			5,200						1,094						261						(8)						6,547
Gain on sale of assets			1						1						—						—						2
Operating Income/(Loss)			1,183						159						(261)						—						1,081
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries			32						—						1,266						(1,298)						—
Equity in earnings of unconsolidated affiliates			—						8						—						—						8
Impairment losses on investments			—						(101)						(6)						—						(107)
Other income, net			19						10						20						—						49
Loss on debt extinguishment, net			—						—						(47)						—						(47)
Interest expense			(11)						(12)						(295)						—						(318)
Total other income/(expense)			40						(95)						938						(1,298)						(415)
Income from Continuing Operations Before Income Taxes			1,223						64						677						(1,298)						666
Income tax expense			—						2						7						—						9
Income from Continuing Operations			1,223						62						670						(1,298)						657
Income from discontinued operations, net of income tax			9						5						385						—						399
Net Income			1,232						67						1,055						(1,298)						1,056
Less: Net income attributable to noncontrolling interest and redeemable noncontrolling interest			—						1						—						—						1
Net Income Attributable to NRG Energy, Inc.			$	1,232					$	66					$	1,055					$	(1,298)					$	1,055

(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 September 30, 2019

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Net Income/(Loss)			$	588					$	(31)					$	372					$	(557)					$	372
Other Comprehensive Loss
Foreign currency translation adjustments, net			(5)						(4)						(4)						9						(4)
Available-for-sale securities, net			—						—						(14)						—						(14)
Defined benefit plans, net			(40)						—						(41)						40						(41)
Other comprehensive loss			(45)						(4)						(59)						49						(59)
Comprehensive Income/(Loss)			$	543					$	(35)					$	313					$	(508)					$	313

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

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the nine months ended September 30, 2019

(Unaudited)

(In millions)			Guarantor Subsidiaries						Non-Guarantor Subsidiaries						NRG Energy, Inc. (Note Issuer)						Eliminations(a)						Consolidated
Net Income			$	1,232					$	67					$	1,055					$	(1,298)					$	1,056
Other Comprehensive Loss
Foreign currency translation adjustments, net			(5)						(4)						(4)						9						(4)
Available-for-sale securities, net			—						—						(13)						—						(13)
Defined benefit plans, net			(40)						—						(47)						40						(47)
Other comprehensive loss			(45)						(4)						(64)						49						(64)
Comprehensive Income			1,187						63						991						(1,249)						992
Less: Comprehensive income attributable to redeemable noncontrolling interest			—						1						—						—						1
Comprehensive Income Attributable to NRG Energy, Inc.			$	1,187					$	62					$	991					$	(1,249)					$	991

(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 nine months ended September 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			$	1,232					$	67					$	1,055					$	(1,298)					$	1,056
Income from discontinued operations			9						5						385						—						399
Income from continuing operations			1,223						62						670						(1,298)						657
Adjustments to reconcile net income to cash provided by operating activities:
Distributions from and equity in losses of unconsolidated affiliates and consolidated subsidiaries			(32)						(5)						(1,266)						1,298						(5)
Depreciation and amortization			156						82						23						—						261
Accretion of asset retirement obligations			25						6						—						—						31
Provision for credit losses			72						11						4						—						87
Amortization of nuclear fuel			40						—						—						—						40
Amortization of financing costs and debt discount/premiums			—						—						20						—						20
Loss on debt extinguishment, net			—						—						47						—						47
Amortization of emission allowances and energy credits			21						7						—						—						28
Amortization of unearned equity compensation			—						—						15						—						15
Net loss on sale of assets and disposal of assets			(25)						2						3						—						(20)
Impairment losses			1						101						6						—						108
Changes in derivative instruments			10						(12)						38						—						36
Changes in deferred income taxes and liability for uncertain tax benefits			—						(1)						(2)						—						(3)
Changes in collateral deposits in support of energy risk management activities			136						(7)						—						—						129
Changes in nuclear decommissioning trust liability			27						—						—						—						27
Changes in other working capital			(401)						(123)						(45)						—						(569)
Cash provided/(used) by continuing operations			1,253						123						(487)						—						889
Cash provided/(used) by discontinued operations			17						(9)						—						—						8
Net Cash Provided/(Used) by Operating Activities			1,270						114						(487)						—						897
Cash Flows from Investing Activities
Intercompany dividends			—						—						3,866						(3,866)						—
Payments for acquisitions of businesses			(348)						—						—						—						(348)
Capital expenditures			(135)						(23)						(25)						—						(183)
Decrease in notes receivable			—						—						2						—						2
Net purchases of emission allowances			14						—						—						—						14
Investments in nuclear decommissioning trust fund securities			(295)						—						—						—						(295)
Proceeds from the sale of nuclear decommissioning trust fund securities			271						—						—						—						271
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees			1						400						892						—						1,293
Net distributions from investments in unconsolidated affiliates			—						(94)												—						(94)
Contributions to discontinued operations			—						(44)						—						—						(44)
Cash (used)/provided by continuing operations			(492)						239						4,735						(3,866)						616
Cash used by discontinued operations			—						(2)						—						—						(2)
Net Cash (Used)/Provided by Investing Activities			(492)						237						4,735						(3,866)						614
Cash Flows from Financing Activities
Intercompany dividends and transfers			(824)						(317)						(2,725)						3,866						—
Payment of dividends to common stockholders			—						—						(24)						—						(24)
Payments for share repurchase activity			—						—						(1,322)						—						(1,322)
Payments for debt extinguishment			—						—						(24)						—						(24)
Net distributions to noncontrolling interests from subsidiaries			—						(1)						—						—						(1)
Proceeds from issuance of common stock			—						—						3						—						3
Proceeds from issuance of long-term debt			—						—						1,833						—						1,833
Payment of debt issuance costs			—						—						(34)						—						(34)
Payments for long-term debt			—						(55)						(2,432)						—						(2,487)
Net proceeds of Revolving Credit Facility			—						—						215						—						215
Cash used by continuing operations			(824)						(373)						(4,510)						3,866						(1,841)
Cash provided by discontinued operations			—						43						—						—						43
Net Cash Used by Financing Activities			(824)						(330)						(4,510)						3,866						(1,798)
Change in cash from discontinued operations			17						32						—						—						49
Net Decrease in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash			(63)						(11)						(262)						—						(336)
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			$	32					$	27					$	218					$	—					$	277

(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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