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Condensed Consolidating Financial Information | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As of December 31, 2019, the Company had outstanding $4.4 billion of Senior Notes due 2026 to 2048 and outstanding $1.1 billion of Senior Secured First Lien Notes due from 2024 to 2029, as shown in Note 13, Debt and Finance Leases. These Senior Notes and Senior Secured First Lien 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 and Senior Secured First Lien Notes as of December 31, 2019:
Ace Energy, Inc. | NRG Astoria Gas Turbine Operations Inc. | NRG Oswego Harbor Power Operations Inc.
Allied Home Warranty GP LLC | NRG Business Services LLC | NRG PacGen Inc.
Allied Warranty LLC | NRG Cabrillo Power Operations Inc. | NRG Portable Power LLC
Arthur Kill Power LLC | NRG California Peaker Operations LLC | NRG Power Marketing LLC
Astoria Gas Turbine Power LLC | NRG Cedar Bayou Development Company, LLC | NRG Reliability Solutions LLC
BidURenergy, Inc. | NRG Connected Home LLC | NRG Renter's Protection LLC
Cabrillo Power I LLC | NRG Connecticut Affiliate Services Inc. | NRG Retail LLC
Cabrillo Power II LLC | NRG Construction LLC | NRG Retail Northeast LLC
Carbon Management Solutions LLC | NRG Curtailment Solutions, Inc | NRG Rockford Acquisition LLC
Cirro Group, Inc. | NRG Development Company Inc. | NRG Saguaro Operations Inc.
Cirro Energy Services, Inc. | NRG Devon Operations Inc. | NRG Security LLC
Connecticut Jet Power LLC | NRG Dispatch Services LLC | NRG Services Corporation
Devon Power LLC | NRG Distributed Energy Resources Holdings LLC | NRG SimplySmart Solutions LLC
Dunkirk Power LLC | NRG Distributed Generation PR LLC | NRG South Central Affiliate Services Inc.
Eastern Sierra Energy Company LLC | NRG Dunkirk Operations Inc. | NRG South Central Operations Inc.
El Segundo Power, LLC | NRG ECOKAP Holdings LLC | NRG South Texas LP
El Segundo Power II LLC | NRG El Segundo Operations Inc. | NRG Texas Gregory LLC
Energy Alternatives Wholesale, LLC | NRG Energy Labor Services LLC | NRG Texas Holding Inc.
Energy Choice Solutions LLC | NRG Energy Services Group LLC | NRG Texas LLC
Energy Plus Holdings LLC | NRG Energy Services International Inc. | NRG Texas Power LLC
Energy Plus Natural Gas LLC | NRG Energy Services LLC | NRG Warranty Services LLC
Energy Protection Insurance Company | NRG Generation Holdings, Inc. | NRG West Coast LLC
Everything Energy LLC | NRG Greenco LLC | NRG Western Affiliate Services Inc.
Forward Home Security, LLC | NRG Home & Business Solutions LLC | O'Brien Cogeneration, Inc. II
GCP Funding Company, LLC | NRG Home Services LLC | Oswego Harbor Power LLC
Green Mountain Energy Company | NRG Home Solutions LLC | Reliant Energy Northeast LLC
Gregory Partners, LLC | NRG Home Solutions Product LLC | Reliant Energy Power Supply, LLC
Gregory Power Partners LLC | NRG Homer City Services LLC | Reliant Energy Retail Holdings, LLC
Huntley Power LLC | NRG HQ DG LLC | Reliant Energy Retail Services, LLC
Independence Energy Alliance LLC | NRG Huntley Operations Inc. | RERH Holdings, LLC
Independence Energy Group LLC | NRG Identity Protect LLC | Saguaro Power LLC
Independence Energy Natural Gas LLC | NRG Ilion Limited Partnership | Somerset Operations Inc.
Indian River Operations Inc. | NRG Ilion LP LLC | Somerset Power LLC
Indian River Power LLC | NRG International LLC | Texas Genco GP, LLC
Meriden Gas Turbines LLC | NRG Maintenance Services LLC | Texas Genco Holdings, Inc.
Middletown Power LLC | NRG Mextrans Inc. | Texas Genco LP, LLC
Montville Power LLC | NRG MidAtlantic Affiliate Services Inc. | Texas Genco Services, LP
NEO Corporation | NRG Middletown Operations Inc. | US Retailers LLC
New Genco GP, LLC | NRG Montville Operations Inc. | Vienna Operations Inc.
Norwalk Power LLC | NRG North Central Operations Inc. | Vienna Power LLC
NRG Advisory Services LLC | NRG Northeast Affiliate Services Inc. | WCP (Generation) Holdings LLC
NRG Affiliate Services Inc. | NRG Norwalk Harbor Operations Inc. | West Coast Power LLC
NRG Arthur Kill Operations Inc. | NRG Operating Services, Inc. |
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. In addition, 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 under the SEC's Regulation S-X. 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. In addition, the condensed parent company financial statements are provided in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of NRG Energy, Inc.'s subsidiaries exceed 25 percent of the consolidated net assets of NRG Energy, Inc. These statements should be read in conjunction with the consolidated statements and notes thereto of NRG Energy, Inc. For a discussion of NRG Energy, Inc.'s long-term debt, see Note 13, Debt and Finance Leases, to the consolidated financial statements. For a discussion of NRG Energy, Inc.'s contingencies, see Note 23, Commitments and Contingencies, to the consolidated financial statements. For a discussion of NRG Energy, Inc.'s guarantees, see Note 27, Guarantees, to the consolidated financial statements. NRG ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2019
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. (Note Issuer) |  | Eliminations (a) |  | Consolidated Balance
Operating Revenues |  |  |  |  |  |  |  |  |
Total operating revenues | $ | 8,041 |  |  | $ | 1,791 |  |  | $ | — |  |  | $ | (11) |  |  | $ | 9,821 |
Operating Costs and Expenses |  |  |  |  |  |  |  |  |
Cost of operations | 5,936 |  |  | 1,351 |  |  | 27 |  |  | (11) |  |  | 7,303 |
Depreciation and amortization | 212 |  |  | 130 |  |  | 31 |  |  | — |  |  | 373 |
Impairment losses | 1 |  |  | 4 |  |  | — |  |  | — |  |  | 5 |
Selling, general and administrative | 466 |  |  | 83 |  |  | 278 |  |  | — |  |  | 827 |
Reorganization costs | — |  |  | — |  |  | 23 |  |  | — |  |  | 23 |
Development costs | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Total operating costs and expenses | 6,615 |  |  | 1,568 |  |  | 366 |  |  | (11) |  |  | 8,538 |
Gain on sale of assets | 1 |  |  | — |  |  | 6 |  |  | — |  |  | 7 |
Operating Income/(Loss) | 1,427 |  |  | 223 |  |  | (360) |  |  | — |  |  | 1,290 |
Other Income/(Expense) |  |  |  |  |  |  |  |  |
Equity in earnings of consolidated subsidiaries | 48 |  |  | — |  |  | 1,562 |  |  | (1,610) |  |  | — |
Equity in earnings of unconsolidated affiliates | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Impairment losses on investments | — |  |  | (101) |  |  | (7) |  |  | — |  |  | (108) |
Other income, net | 23 |  |  | 12 |  |  | 31 |  |  | — |  |  | 66 |
Loss on debt extinguishment, net | — |  |  | (3) |  |  | (48) |  |  | — |  |  | (51) |
Interest expense | (14) |  |  | (14) |  |  | (385) |  |  | — |  |  | (413) |
Total other income/(expense) | 57 |  |  | (104) |  |  | 1,153 |  |  | (1,610) |  |  | (504) |
Income from Continuing Operations Before Income Taxes | 1,484 |  |  | 119 |  |  | 793 |  |  | (1,610) |  |  | 786 |
Income tax expense/(benefit) | — |  |  | 4 |  |  | (3,338) |  |  | — |  |  | (3,334) |
Income from Continuing Operations | 1,484 |  |  | 115 |  |  | 4,131 |  |  | (1,610) |  |  | 4,120 |
Income from discontinued operations, net of income tax | 9 |  |  | 5 |  |  | 307 |  |  | — |  |  | 321 |
Net Income | 1,493 |  |  | 120 |  |  | 4,438 |  |  | (1,610) |  |  | 4,441 |
Less: Net income attributable to redeemable noncontrolling interests | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Net Income Attributable to NRG Energy, Inc. | $ | 1,493 |  |  | $ | 117 |  |  | $ | 4,438 |  |  | $ | (1,610) |  |  | $ | 4,438 |
(a)All significant intercompany transactions have been eliminated in consolidation NRG ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2019
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. (Note Issuer) |  | Eliminations(a) |  | Consolidated Balance
Net Income | $ | 1,493 |  |  | $ | 120 |  |  | $ | 4,438 |  |  | $ | (1,610) |  |  | $ | 4,441 |
Other Comprehensive Loss, net of tax |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments, net | — |  |  | (1) |  |  | (1) |  |  | 1 |  |  | (1) |
Available-for-sale securities, net | — |  |  | — |  |  | (19) |  |  | — |  |  | (19) |
Defined benefit plan, net | (17) |  |  | — |  |  | (78) |  |  | 17 |  |  | (78) |
Other comprehensive loss | (17) |  |  | (1) |  |  | (98) |  |  | 18 |  |  | (98) |
Comprehensive Income | 1,476 |  |  | 119 |  |  | 4,340 |  |  | (1,592) |  |  | 4,343 |
Less: Comprehensive income attributable to redeemable noncontrolling interests | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Comprehensive Income Attributable to NRG Energy, Inc. | $ | 1,476 |  |  | $ | 116 |  |  | $ | 4,340 |  |  | $ | (1,592) |  |  | $ | 4,340 |
(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. |  | Eliminations (a) |  | Consolidated Balance
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 posted 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 Year Ended December 31, 2019
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. (Note Issuer) |  | Eliminations(a) |  | Consolidated Balance
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |
Net income | $ | 1,493 |  |  | $ | 120 |  |  | $ | 4,438 |  |  | $ | (1,610) |  |  | $ | 4,441 |
Income from discontinued operations | 9 |  |  | 5 |  |  | 307 |  |  | — |  |  | 321 |
Net income from continuing operations | 1,484 |  |  | 115 |  |  | 4,131 |  |  | (1,610) |  |  | 4,120 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Distributions and equity in earnings of unconsolidated affiliates and consolidated subsidiaries | (48) |  |  | 14 |  |  | (1,562) |  |  | 1,610 |  |  | 14 |
Depreciation and amortization | 212 |  |  | 130 |  |  | 31 |  |  | — |  |  | 373 |
Accretion of asset retirement obligations | 43 |  |  | 8 |  |  | — |  |  | — |  |  | 51 |
Provision for bad debts | 78 |  |  | 17 |  |  | — |  |  | — |  |  | 95 |
Amortization of nuclear fuel | 52 |  |  | — |  |  | — |  |  | — |  |  | 52 |
Amortization of financing costs and debt discount/premiums | — |  |  | — |  |  | 26 |  |  | — |  |  | 26 |
Adjustment for debt extinguishment | — |  |  | 3 |  |  | 48 |  |  | — |  |  | 51 |
Amortization of emission allowances | 24 |  |  | 14 |  |  | — |  |  | — |  |  | 38 |
Amortization of unearned equity compensation | — |  |  | — |  |  | 20 |  |  | — |  |  | 20 |
Net gain on sale and disposal of assets | (20) |  |  | — |  |  | (3) |  |  | — |  |  | (23) |
Impairment losses | 1 |  |  | 105 |  |  | 7 |  |  | — |  |  | 113 |
Changes in derivative instruments | 20 |  |  | (24) |  |  | 38 |  |  | — |  |  | 34 |
Changes in deferred income taxes and liability for uncertain tax benefits | (525) |  |  | (168) |  |  | (2,660) |  |  | — |  |  | (3,353) |
Changes in collateral deposits in support of energy risk management activities | 101 |  |  | 4 |  |  | — |  |  | — |  |  | 105 |
Changes in nuclear decommissioning trust liability | 37 |  |  | — |  |  | — |  |  | — |  |  | 37 |
Changes in other working capital | (220) |  |  | (118) |  |  | (10) |  |  | — |  |  | (348) |
Cash provided by continuing operations | 1,239 |  |  | 100 |  |  | 66 |  |  | — |  |  | 1,405 |
Cash provided/(used) by discontinued operations | 17 |  |  | (9) |  |  | — |  |  | — |  |  | 8 |
Net Cash Provided by Operating Activities | 1,256 |  |  | 91 |  |  | 66 |  |  | — |  |  | 1,413 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |
Intercompany dividends | — |  |  | — |  |  | 2,513 |  |  | (2,513) |  |  | — |
Payments for acquisitions of businesses | (355) |  |  | — |  |  | — |  |  | — |  |  | (355) |
Capital expenditures | (164) |  |  | (27) |  |  | (37) |  |  | — |  |  | (228) |
Net proceeds from sale of emission allowances | 11 |  |  | — |  |  | — |  |  | — |  |  | 11 |
Investments in nuclear decommissioning trust fund securities | (416) |  |  | — |  |  | — |  |  | — |  |  | (416) |
Proceeds from sales of nuclear decommissioning trust fund securities | 381 |  |  | — |  |  | — |  |  | — |  |  | 381 |
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees | 1 |  |  | 400 |  |  | 893 |  |  | — |  |  | 1,294 |
Changes in investments in unconsolidated affiliates | — |  |  | (91) |  |  | — |  |  | — |  |  | (91) |
Net contributions to discontinued operations | — |  |  | (44) |  |  | — |  |  | — |  |  | (44) |
Other | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Cash (used)/provided by continuing operations | (542) |  |  | 238 |  |  | 3,375 |  |  | (2,513) |  |  | 558 |
Cash used by discontinued operations | — |  |  | (2) |  |  | — |  |  | — |  |  | (2) |
Net Cash (Used)/Provided by Investing Activities | (542) |  |  | 236 |  |  | 3,375 |  |  | (2,513) |  |  | 556 |
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany dividends and transfers | (751) |  |  | (214) |  |  | (1,548) |  |  | 2,513 |  |  | — |
Payments of dividends to common stockholders | — |  |  | — |  |  | (32) |  |  | — |  |  | (32) |
Payments for share repurchase activity | — |  |  | — |  |  | (1,440) |  |  | — |  |  | (1,440) |
Payments for debt extinguishment costs | — |  |  | — |  |  | (26) |  |  | — |  |  | (26) |
Net distributions to redeemable noncontrolling interests from subsidiaries | — |  |  | (2) |  |  | — |  |  | — |  |  | (2) |
Proceeds from issuance of common stock | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Proceeds from issuance of long-term debt | — |  |  | — |  |  | 1,916 |  |  | — |  |  | 1,916 |
Payments of debt issuance costs | — |  |  | — |  |  | (35) |  |  | — |  |  | (35) |
Payments for short and long-term debt | — |  |  | (139) |  |  | (2,432) |  |  | — |  |  | (2,571) |
Other | (4) |  |  | — |  |  | — |  |  | — |  |  | (4) |
Cash used by continuing operations | (755) |  |  | (355) |  |  | (3,594) |  |  | 2,513 |  |  | (2,191) |
Cash provided by discontinued operations | — |  |  | 43 |  |  | — |  |  | — |  |  | 43 |
Net Cash Used by Financing Activities | (755) |  |  | (312) |  |  | (3,594) |  |  | 2,513 |  |  | (2,148) |
Change in cash from discontinued operations | 17 |  |  | 32 |  |  | — |  |  | — |  |  | 49 |
Net Decrease in Cash and Cash Equivalents, Restricted Cash, and Funds Deposited by Counterparties | (58) |  |  | (17) |  |  | (153) |  |  | — |  |  | (228) |
Cash and Cash Equivalents, Restricted Cash, and Funds Deposited by Counterparties at Beginning of Period | 95 |  |  | 38 |  |  | 480 |  |  | — |  |  | 613 |
Cash and Cash Equivalents, Restricted Cash, and Funds Deposited by Counterparties at End of Period | $ | 37 |  |  | $ | 21 |  |  | $ | 327 |  |  | $ | — |  |  | $ | 385 |
(a)All significant intercompany transactions have been eliminated in consolidation NRG ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2018
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. (Note Issuer) |  | Eliminations (a) |  | Consolidated Balance
Operating Revenues |  |  |  |  |  |  |  |  |
Total operating revenues | $ | 8,119 |  |  | $ | 1,385 |  |  | $ | — |  |  | $ | (26) |  |  | $ | 9,478 |
Operating Costs and Expenses |  |  |  |  |  |  |  |  |
Cost of operations | 6,147 |  |  | 959 |  |  | 28 |  |  | (26) |  |  | 7,108 |
Depreciation and amortization | 238 |  |  | 150 |  |  | 33 |  |  | — |  |  | 421 |
Impairment losses | 6 |  |  | 93 |  |  | — |  |  | — |  |  | 99 |
Selling, general and administrative | 462 |  |  | 63 |  |  | 348 |  |  | (74) |  |  | 799 |
Reorganization costs | 4 |  |  | — |  |  | 86 |  |  | — |  |  | 90 |
Development costs | — |  |  | 1 |  |  | 11 |  |  | (1) |  |  | 11 |
Total operating costs and expenses | 6,857 |  |  | 1,266 |  |  | 506 |  |  | (101) |  |  | 8,528 |
Gain on sale of assets | 4 |  |  | 28 |  |  | — |  |  | — |  |  | 32 |
Operating Income/(Loss) | 1,266 |  |  | 147 |  |  | (506) |  |  | 75 |  |  | 982 |
Other Income/(Expense) |  |  |  |  |  |  |  |  |
Equity in earnings of consolidated subsidiaries | 23 |  |  | — |  |  | 1,291 |  |  | (1,314) |  |  | — |
Equity in earnings/(losses) of unconsolidated affiliates | — |  |  | 10 |  |  | (1) |  |  | — |  |  | 9 |
Impairment losses on investments | — |  |  | (15) |  |  | — |  |  | — |  |  | (15) |
Other income/(expense), net | 32 |  |  | (13) |  |  | (1) |  |  | — |  |  | 18 |
Loss on debt extinguishment, net | — |  |  | — |  |  | (44) |  |  | — |  |  | (44) |
Interest expense | (14) |  |  | (49) |  |  | (420) |  |  | — |  |  | (483) |
Total other income/(expense) | 41 |  |  | (67) |  |  | 825 |  |  | (1,314) |  |  | (515) |
Income from Continuing Operations Before Income Taxes | 1,307 |  |  | 80 |  |  | 319 |  |  | (1,239) |  |  | 467 |
Income tax expense/(benefit) | 372 |  |  | 19 |  |  | (384) |  |  | — |  |  | 7 |
Income from Continuing Operations | 935 |  |  | 61 |  |  | 703 |  |  | (1,239) |  |  | 460 |
Income/(loss) from discontinued operations, net of income tax | 62 |  |  | 75 |  |  | (329) |  |  | — |  |  | (192) |
Net Income | 997 |  |  | 136 |  |  | 374 |  |  | (1,239) |  |  | 268 |
Less: Net (loss)/income attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (181) |  |  | 106 |  |  | 75 |  |  | — |
Net Income Attributable to NRG Energy, Inc. | $ | 997 |  |  | $ | 317 |  |  | $ | 268 |  |  | $ | (1,314) |  |  | $ | 268 |
(a)All significant intercompany transactions have been eliminated in consolidation NRG ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended December 31, 2018
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. (Note Issuer) |  | Eliminations(a) |  | Consolidated Balance
Net Income | $ | 997 |  |  | $ | 136 |  |  | $ | 374 |  |  | $ | (1,239) |  |  | $ | 268 |
Other Comprehensive Income/(Loss), net of tax |  |  |  |  |  |  |  |  |
Unrealized gain on derivatives, net | — |  |  | 29 |  |  | 9 |  |  | (15) |  |  | 23 |
Foreign currency translation adjustments, net | (10) |  |  | (10) |  |  | (13) |  |  | 22 |  |  | (11) |
Available-for-sale securities, net | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Defined benefit plan, net | (9) |  |  | — |  |  | (35) |  |  | 9 |  |  | (35) |
Other comprehensive (loss)/income | (19) |  |  | 19 |  |  | (38) |  |  | 16 |  |  | (22) |
Comprehensive Income | 978 |  |  | 155 |  |  | 336 |  |  | (1,223) |  |  | 246 |
Less: Comprehensive (loss)/income attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (166) |  |  | 104 |  |  | 76 |  |  | 14 |
Comprehensive Income Attributable to NRG Energy, Inc. | $ | 978 |  |  | $ | 321 |  |  | $ | 232 |  |  | $ | (1,299) |  |  | $ | 232 |
(a)All significant intercompany transactions have been eliminated in consolidation NRG ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2018
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. |  | Eliminations (a) |  | Consolidated Balance
ASSETS |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 55 |  |  | $ | 28 |  |  | $ | 480 |  |  | $ | — |  |  | $ | 563 |
Funds deposited by counterparties | 33 |  |  | — |  |  | — |  |  | — |  |  | 33 |
Restricted cash | 7 |  |  | 10 |  |  | — |  |  | — |  |  | 17 |
Accounts receivable. net | 1,354 |  |  | 115 |  |  | 309 |  |  | (754) |  |  | 1,024 |
Inventory | 278 |  |  | 134 |  |  | — |  |  | — |  |  | 412 |
Derivative instruments | 779 |  |  | 50 |  |  | 16 |  |  | (81) |  |  | 764 |
Cash collateral posted in support of energy risk management activities | 275 |  |  | 12 |  |  | — |  |  | — |  |  | 287 |
Prepayments and other current assets | 180 |  |  | 32 |  |  | 90 |  |  | — |  |  | 302 |
Current assets - held-for-sale | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Current assets - discontinued operations | 177 |  |  | 20 |  |  | — |  |  | — |  |  | 197 |
Total current assets | 3,138 |  |  | 402 |  |  | 895 |  |  | (835) |  |  | 3,600 |
Property, plant and equipment, net | 1,938 |  |  | 957 |  |  | 153 |  |  | — |  |  | 3,048 |
Other Assets |  |  |  |  |  |  |  |  |
Investment in subsidiaries | 446 |  |  | — |  |  | 4,707 |  |  | (5,153) |  |  | — |
Equity investments in affiliates | — |  |  | 412 |  |  | — |  |  | — |  |  | 412 |
Goodwill | 359 |  |  | 214 |  |  | — |  |  | — |  |  | 573 |
Intangible assets, net | 422 |  |  | 169 |  |  | — |  |  | — |  |  | 591 |
Nuclear decommissioning trust fund | 663 |  |  | — |  |  | — |  |  | — |  |  | 663 |
Derivative instruments | 296 |  |  | 4 |  |  | 22 |  |  | (5) |  |  | 317 |
Deferred income taxes | 6 |  |  | (143) |  |  | 183 |  |  | — |  |  | 46 |
Other non-current assets | 133 |  |  | 71 |  |  | 97 |  |  | (12) |  |  | 289 |
Non-current assets - held-for-sale | — |  |  | 77 |  |  | — |  |  | — |  |  | 77 |
Non-current assets - discontinued operations | 405 |  |  | 607 |  |  | — |  |  | — |  |  | 1,012 |
Total other assets | 2,730 |  |  | 1,411 |  |  | 5,009 |  |  | (5,170) |  |  | 3,980 |
Total Assets | $ | 7,806 |  |  | $ | 2,770 |  |  | $ | 6,057 |  |  | $ | (6,005) |  |  | $ | 10,628 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |
Current portion of long-term debt and finance leases | $ | — |  |  | $ | 55 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 72 |
Accounts payable | 1,368 |  |  | (185) |  |  | 434 |  |  | (754) |  |  | 863 |
Derivative instruments | 713 |  |  | 41 |  |  | — |  |  | (81) |  |  | 673 |
Cash collateral received in support of energy risk management activities | 33 |  |  | — |  |  | — |  |  | — |  |  | 33 |
Accrued expenses and other current liabilities | 291 |  |  | 36 |  |  | 353 |  |  | — |  |  | 680 |
Current liabilities - held-for-sale | — |  |  | 5 |  |  | — |  |  | — |  |  | 5 |
Current liabilities - discontinued operations | 24 |  |  | 48 |  |  | — |  |  | — |  |  | 72 |
Total current liabilities | 2,429 |  |  | — |  |  | 804 |  |  | (835) |  |  | 2,398 |
Other Liabilities |  |  |  |  |  |  |  |  |
Long-term debt and finance leases | 244 |  |  | 192 |  |  | 6,025 |  |  | (12) |  |  | 6,449 |
Nuclear decommissioning reserve | 282 |  |  | — |  |  | — |  |  | — |  |  | 282 |
Nuclear decommissioning trust liability | 371 |  |  | — |  |  | — |  |  | — |  |  | 371 |
Derivative instruments | 306 |  |  | 3 |  |  | — |  |  | (5) |  |  | 304 |
Deferred income taxes | 112 |  |  | 61 |  |  | (108) |  |  | — |  |  | 65 |
Other non-current liabilities | 402 |  |  | 320 |  |  | 552 |  |  | — |  |  | 1,274 |
Non-current liabilities - held-for-sale | — |  |  | 65 |  |  | — |  |  | — |  |  | 65 |
Non-current liabilities - discontinued operations | 58 |  |  | 577 |  |  | — |  |  | — |  |  | 635 |
Total other liabilities | 1,775 |  |  | 1,218 |  |  | 6,469 |  |  | (17) |  |  | 9,445 |
Total Liabilities | 4,204 |  |  | 1,218 |  |  | 7,273 |  |  | (852) |  |  | 11,843 |
Redeemable noncontrolling interest in subsidiaries | — |  |  | 19 |  |  | — |  |  | — |  |  | 19 |
Stockholders' Equity | 3,602 |  |  | 1,533 |  |  | (1,216) |  |  | (5,153) |  |  | (1,234) |
Total Liabilities and Stockholders' Equity | $ | 7,806 |  |  | $ | 2,770 |  |  | $ | 6,057 |  |  | $ | (6,005) |  |  | $ | 10,628 |
(a)All significant intercompany transactions have been eliminated in consolidation NRG ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2018
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. (Note Issuer) |  | Eliminations(a) |  | Consolidated Balance
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |
Net income | $ | 997 |  |  | $ | 136 |  |  | $ | 374 |  |  | $ | (1,239) |  |  | $ | 268 |
Income/(loss) from discontinued operations | 62 |  |  | 75 |  |  | (329) |  |  | — |  |  | (192) |
Net income from continuing operations | 935 |  |  | 61 |  |  | 703 |  |  | (1,239) |  |  | 460 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Distributions and equity in earnings of unconsolidated affiliates and consolidated subsidiaries | (23) |  |  | 47 |  |  | (1,231) |  |  | 1,253 |  |  | 46 |
Depreciation and amortization | 238 |  |  | 150 |  |  | 33 |  |  | — |  |  | 421 |
Accretion of asset retirement obligations | 28 |  |  | 10 |  |  | — |  |  | — |  |  | 38 |
Provision for bad debts | 79 |  |  | 6 |  |  | — |  |  | — |  |  | 85 |
Amortization of nuclear fuel | 48 |  |  | — |  |  | — |  |  | — |  |  | 48 |
Amortization of financing costs and debt discount/premiums | — |  |  | 6 |  |  | 23 |  |  | — |  |  | 29 |
Adjustment for debt extinguishment | — |  |  | — |  |  | 44 |  |  | — |  |  | 44 |
Amortization of emission allowances and out-of-market contracts | 36 |  |  | 9 |  |  | — |  |  | — |  |  | 45 |
Amortization of unearned equity compensation | — |  |  | — |  |  | 25 |  |  | — |  |  | 25 |
Net (gain)/loss on sale and disposal of assets | (30) |  |  | (20) |  |  | 1 |  |  | — |  |  | (49) |
Impairment losses | 5 |  |  | 109 |  |  | — |  |  | — |  |  | 114 |
Changes in derivative instruments | 25 |  |  | 15 |  |  | 11 |  |  | (14) |  |  | 37 |
Changes in deferred income taxes and liability for uncertain tax benefits | 372 |  |  | 5 |  |  | (372) |  |  | — |  |  | 5 |
Changes in collateral deposits in support of energy risk management activities | (94) |  |  | (11) |  |  | — |  |  | — |  |  | (105) |
Changes in nuclear decommissioning trust liability | 60 |  |  | — |  |  | — |  |  | — |  |  | 60 |
GenOn settlement, net of insurance proceeds | — |  |  | — |  |  | (63) |  |  | — |  |  | (63) |
Net loss on deconsolidation of Agua Caliente and Ivanpah projects | — |  |  | 13 |  |  | — |  |  | — |  |  | 13 |
Changes in other working capital | (100) |  |  | (166) |  |  | 16 |  |  | — |  |  | (250) |
Cash provided/(used) by continuing operations | 1,579 |  |  | 234 |  |  | (810) |  |  | — |  |  | 1,003 |
Cash provided by discontinued operations | 89 |  |  | 285 |  |  | — |  |  | — |  |  | 374 |
Net Cash Provided/(Used) by Operating Activities | 1,668 |  |  | 519 |  |  | (810) |  |  | — |  |  | 1,377 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |
Intercompany dividends | — |  |  | — |  |  | 2,006 |  |  | (2,006) |  |  | — |
Payments for acquisitions of businesses | (40) |  |  | (203) |  |  | — |  |  | — |  |  | (243) |
Capital expenditures | (192) |  |  | (151) |  |  | (45) |  |  | — |  |  | (388) |
Net proceeds from sale of emission allowances | 19 |  |  | — |  |  | — |  |  | — |  |  | 19 |
Investments in nuclear decommissioning trust fund securities | (572) |  |  | — |  |  | — |  |  | — |  |  | (572) |
Proceeds from sales of nuclear decommissioning trust fund securities | 513 |  |  | — |  |  | — |  |  | — |  |  | 513 |
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees | 14 |  |  | 8 |  |  | 1,542 |  |  | — |  |  | 1,564 |
Deconsolidation of Agua Caliente and Ivanpah projects | — |  |  | (268) |  |  | — |  |  | — |  |  | (268) |
Changes in investments in unconsolidated affiliates | — |  |  | (39) |  |  | — |  |  | — |  |  | (39) |
Net contributions to discontinued operations | — |  |  | (60) |  |  | — |  |  | — |  |  | (60) |
Other | — |  |  | — |  |  | (6) |  |  | — |  |  | (6) |
Cash (used)/provided by continuing operations | (258) |  |  | (713) |  |  | 3,497 |  |  | (2,006) |  |  | 520 |
Cash used by discontinued operations | — |  |  | (725) |  |  | — |  |  | — |  |  | (725) |
Net Cash (Used)/Provided by Investing Activities | (258) |  |  | (1,438) |  |  | 3,497 |  |  | (2,006) |  |  | (205) |
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany dividends and transfers | (1,267) |  |  | 86 |  |  | (825) |  |  | 2,006 |  |  | — |
Payments of dividends to common stockholders | — |  |  | — |  |  | (37) |  |  | — |  |  | (37) |
Payments for treasury stock | — |  |  | — |  |  | (1,250) |  |  | — |  |  | (1,250) |
Payments for debt extinguishment costs | — |  |  | — |  |  | (32) |  |  | — |  |  | (32) |
Net distributions to noncontrolling interests from subsidiaries | — |  |  | (16) |  |  | — |  |  | — |  |  | (16) |
Proceeds from issuance of common stock | — |  |  | — |  |  | 21 |  |  | — |  |  | 21 |
Proceeds from issuance of long-term debt | — |  |  | 163 |  |  | 937 |  |  | — |  |  | 1,100 |
Payments of debt issuance costs | — |  |  | — |  |  | (19) |  |  | — |  |  | (19) |
Payments for short and long-term debt | — |  |  | (138) |  |  | (1,596) |  |  | — |  |  | (1,734) |
Receivable from affiliate | — |  |  | — |  |  | (26) |  |  | — |  |  | (26) |
Other | — |  |  | (4) |  |  | — |  |  | — |  |  | (4) |
Cash (used)/provided by continuing operations | (1,267) |  |  | 91 |  |  | (2,827) |  |  | 2,006 |  |  | (1,997) |
Cash provided by discontinued operations | — |  |  | 471 |  |  | — |  |  | — |  |  | 471 |
Net Cash (Used)/Provided by Financing Activities | (1,267) |  |  | 562 |  |  | (2,827) |  |  | 2,006 |  |  | (1,526) |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Change in cash from discontinued operations | 89 |  |  | 31 |  |  | — |  |  | — |  |  | 120 |
Net Increase/(Decrease) in Cash and Cash Equivalents, Restricted Cash, and Funds Deposited by Counterparties | 54 |  |  | (387) |  |  | (140) |  |  | — |  |  | (473) |
Cash and Cash Equivalents, Restricted Cash, and Funds Deposited by Counterparties at Beginning of Period | 41 |  |  | 425 |  |  | 620 |  |  | — |  |  | 1,086 |
Cash and Cash Equivalents, Restricted Cash, and Funds Deposited by Counterparties at End of Period | $ | 95 |  |  | $ | 38 |  |  | $ | 480 |  |  | $ | — |  |  | $ | 613 |
(a) All significant intercompany transactions have been eliminated in consolidation NRG ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS For the Year Ended December 31, 2017
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. |  | Eliminations (a) |  | Consolidated Balance
Operating Revenues |  |  |  |  |  |  |  |  |
Total operating revenues | $ | 7,818 |  |  | $ | 1,304 |  |  | $ | — |  |  | $ | (48) |  |  | $ | 9,074 |
Operating Costs and Expenses |  |  |  |  |  |  |  |  |
Cost of operations | 5,998 |  |  | 862 |  |  | 72 |  |  | (46) |  |  | 6,886 |
Depreciation and amortization | 343 |  |  | 221 |  |  | 32 |  |  | — |  |  | 596 |
Impairment losses | 1,346 |  |  | 188 |  |  | — |  |  | — |  |  | 1,534 |
Selling, general and administrative | 410 |  |  | 64 |  |  | 364 |  |  | (2) |  |  | 836 |
Reorganization costs | 6 |  |  | — |  |  | 38 |  |  | — |  |  | 44 |
Development costs | — |  |  | 4 |  |  | 18 |  |  | — |  |  | 22 |
Total operating costs and expenses | 8,103 |  |  | 1,339 |  |  | 524 |  |  | (48) |  |  | 9,918 |
Other income - affiliate | — |  |  | — |  |  | 87 |  |  | — |  |  | 87 |
Gain on sale of assets | 4 |  |  | 12 |  |  | — |  |  | — |  |  | 16 |
Operating Loss | (281) |  |  | (23) |  |  | (437) |  |  | — |  |  | (741) |
Other Income/(Expense) |  |  |  |  |  |  |  |  |
Equity in earnings of consolidated subsidiaries | 18 |  |  | — |  |  | 28 |  |  | (46) |  |  | — |
Equity in losses of unconsolidated affiliates | — |  |  | (10) |  |  | (4) |  |  | — |  |  | (14) |
Impairment losses on investments | — |  |  | (75) |  |  | (4) |  |  | — |  |  | (79) |
Other income, net | 9 |  |  | 14 |  |  | 28 |  |  | — |  |  | 51 |
Loss on debt extinguishment, net | — |  |  | — |  |  | (49) |  |  | — |  |  | (49) |
Interest expense | (14) |  |  | (91) |  |  | (452) |  |  | — |  |  | (557) |
Total other income/(expense) | 13 |  |  | (162) |  |  | (453) |  |  | (46) |  |  | (648) |
Loss from Continuing Operations Before Income Taxes | (268) |  |  | (185) |  |  | (890) |  |  | (46) |  |  | (1,389) |
Income tax (benefit)/expense | (598) |  |  | (62) |  |  | 616 |  |  | — |  |  | (44) |
Income/(Loss) from Continuing Operations | 330 |  |  | (123) |  |  | (1,506) |  |  | (46) |  |  | (1,345) |
Income/(loss) from discontinued operations, net of income tax | 91 |  |  | (420) |  |  | (663) |  |  | — |  |  | (992) |
Net Income/(Loss) | 421 |  |  | (543) |  |  | (2,169) |  |  | (46) |  |  | (2,337) |
Less: Net loss attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (168) |  |  | (16) |  |  | — |  |  | (184) |
Net Income/(Loss) Attributable to NRG Energy, Inc. | $ | 421 |  |  | $ | (375) |  |  | $ | (2,153) |  |  | $ | (46) |  |  | $ | (2,153) |
(a)All significant intercompany transactions have been eliminated in consolidation NRG ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) For the Year Ended December 31, 2017
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. (Note Issuer) |  | Eliminations(a) |  | Consolidated Balance
Net Income/(Loss) | $ | 421 |  |  | $ | (543) |  |  | $ | (2,169) |  |  | $ | (46) |  |  | $ | (2,337) |
Other Comprehensive Income/(Loss), net of tax |  |  |  |  |  |  |  |  |
Unrealized gain on derivatives, net | 1 |  |  | 13 |  |  | 25 |  |  | (26) |  |  | 13 |
Foreign currency translation adjustments, net | 6 |  |  | 7 |  |  | — |  |  | (1) |  |  | 12 |
Available-for-sale securities, net | — |  |  | — |  |  | (8) |  |  | — |  |  | (8) |
Defined benefit plan, net | (13) |  |  | 30 |  |  | 46 |  |  | (17) |  |  | 46 |
Other comprehensive (loss)/income | (6) |  |  | 50 |  |  | 63 |  |  | (44) |  |  | 63 |
Comprehensive Income/(Loss) | 415 |  |  | (493) |  |  | (2,106) |  |  | (90) |  |  | (2,274) |
Less: Comprehensive loss attributable to noncontrolling interest and redeemable noncontrolling interests | — |  |  | (103) |  |  | (16) |  |  | (60) |  |  | (179) |
Comprehensive Income/(Loss) Attributable to NRG Energy, Inc. | $ | 415 |  |  | $ | (390) |  |  | $ | (2,090) |  |  | $ | (30) |  |  | $ | (2,095) |
(a)All significant intercompany transactions have been eliminated in consolidation NRG ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2017
(In millions) | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | NRG Energy, Inc. (Note Issuer) |  | Eliminations(a) |  | Consolidated Balance
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |
Net income/(loss) | $ | 421 |  |  | $ | (543) |  |  | $ | (2,169) |  |  | $ | (46) |  |  | $ | (2,337) |
Income/(loss) from discontinued operations | 91 |  |  | (420) |  |  | (663) |  |  | — |  |  | (992) |
Net income/(loss) from continuing operations | 330 |  |  | (123) |  |  | (1,506) |  |  | (46) |  |  | (1,345) |
Adjustments to reconcile net income/(loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Distributions and equity in earnings of unconsolidated affiliates and consolidated subsidiaries | (18) |  |  | 12 |  |  | 60 |  |  | 48 |  |  | 102 |
Depreciation and amortization | 343 |  |  | 221 |  |  | 32 |  |  | — |  |  | 596 |
Accretion of asset retirement obligations | 37 |  |  | 7 |  |  | — |  |  | — |  |  | 44 |
Provision for bad debts | 56 |  |  | — |  |  | 12 |  |  | — |  |  | 68 |
Amortization of nuclear fuel | 51 |  |  | — |  |  | — |  |  | — |  |  | 51 |
Amortization of financing costs and debt discount/premiums | — |  |  | 13 |  |  | 16 |  |  | — |  |  | 29 |
Adjustment for debt extinguishment | — |  |  | — |  |  | 49 |  |  | — |  |  | 49 |
Amortization of emission allowances and out-of-market contracts | 42 |  |  | 12 |  |  | — |  |  | — |  |  | 54 |
Amortization of unearned equity compensation | — |  |  | — |  |  | 35 |  |  | — |  |  | 35 |
Net loss/(gain) on sale and disposal of assets | 2 |  |  | (11) |  |  | — |  |  | — |  |  | (9) |
Impairment losses | 1,346 |  |  | 264 |  |  | 4 |  |  | — |  |  | 1,614 |
Changes in derivative instruments | (214) |  |  | 50 |  |  | (4) |  |  | (2) |  |  | (170) |
Changes in deferred income taxes and liability for uncertain tax benefits | (300) |  |  | (9) |  |  | 322 |  |  | — |  |  | 13 |
Changes in collateral deposits in support of energy risk management activities | (98) |  |  | 18 |  |  | — |  |  | — |  |  | (80) |
Changes in nuclear decommissioning trust liability | 11 |  |  | — |  |  | — |  |  | — |  |  | 11 |
Changes in other working capital | (15) |  |  | (396) |  |  | 205 |  |  | — |  |  | (206) |
Cash provided/(used) by continuing operations | 1,573 |  |  | 58 |  |  | (775) |  |  | — |  |  | 856 |
Cash provided by discontinued operations | 116 |  |  | 638 |  |  | — |  |  | — |  |  | 754 |
Net Cash Provided/(Used) by Operating Activities | 1,689 |  |  | 696 |  |  | (775) |  |  | — |  |  | 1,610 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |
Intercompany dividends | — |  |  | — |  |  | 1,665 |  |  | (1,665) |  |  | — |
Payments for acquisitions of businesses | (14) |  |  | — |  |  | — |  |  | — |  |  | (14) |
Capital expenditures | (180) |  |  | (43) |  |  | (31) |  |  | — |  |  | (254) |
Net proceeds from sale of emission allowances | 66 |  |  | — |  |  | — |  |  | — |  |  | 66 |
Investments in nuclear decommissioning trust fund securities | (512) |  |  | — |  |  | — |  |  | — |  |  | (512) |
Proceeds from sales of nuclear decommissioning trust fund securities | 501 |  |  | — |  |  | — |  |  | — |  |  | 501 |
Proceeds from sale of assets, net of cash disposed | 33 |  |  | 54 |  |  | 343 |  |  | — |  |  | 430 |
Changes in investments in unconsolidated affiliates | — |  |  | (57) |  |  | — |  |  | — |  |  | (57) |
Net distributions from discontinued operations | — |  |  | — |  |  | 150 |  |  | — |  |  | 150 |
Other | 18 |  |  | 12 |  |  | — |  |  | — |  |  | 30 |
Cash (used)/provided by continuing operations | (88) |  |  | (34) |  |  | 2,127 |  |  | (1,665) |  |  | 340 |
Cash used by discontinued operations | (13) |  |  | (966) |  |  | — |  |  | — |  |  | (979) |
Net Cash (Used)/Provided by Investing Activities | (101) |  |  | (1,000) |  |  | 2,127 |  |  | (1,665) |  |  | (639) |
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany dividends and transfers | (1,447) |  |  | (4) |  |  | (214) |  |  | 1,665 |  |  | — |
Payment of dividends to common stockholders | — |  |  | — |  |  | (38) |  |  | — |  |  | (38) |
Payments for debt extinguishment costs | — |  |  | — |  |  | (42) |  |  | — |  |  | (42) |
Net distributions to noncontrolling interests from subsidiaries | — |  |  | (30) |  |  | — |  |  | — |  |  | (30) |
Payments for issuance of common stock | — |  |  | — |  |  | (2) |  |  | — |  |  | (2) |
Proceeds from issuance of long-term debt | — |  |  | 94 |  |  | 1,084 |  |  | — |  |  | 1,178 |
Payment of debt issuance costs | — |  |  | (2) |  |  | (16) |  |  | — |  |  | (18) |
Payments for short and long-term debt | — |  |  | (183) |  |  | (1,701) |  |  | — |  |  | (1,884) |
Receivable from affiliate | — |  |  | — |  |  | (125) |  |  | — |  |  | (125) |
Other | — |  |  | (8) |  |  | — |  |  | — |  |  | (8) |
Cash used by continuing operations | (1,447) |  |  | (133) |  |  | (1,054) |  |  | 1,665 |  |  | (969) |
Cash used by discontinued operations | (109) |  |  | (60) |  |  | — |  |  | — |  |  | (169) |
Net Cash Used by Financing Activities | (1,556) |  |  | (193) |  |  | (1,054) |  |  | 1,665 |  |  | (1,138) |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | (1) |  |  | — |  |  | — |  |  | (1) |
Change in cash from discontinued operations | (6) |  |  | (388) |  |  | — |  |  | — |  |  | (394) |
Net Increase/(Decrease) in Cash and Cash Equivalents, Restricted Cash, and Funds Deposited by Counterparties | 38 |  |  | (110) |  |  | 298 |  |  | — |  |  | 226 |
Cash and Cash Equivalents, Restricted Cash, and Funds Deposited by Counterparties at Beginning of Period | 3 |  |  | 535 |  |  | 322 |  |  | — |  |  | 860 |
Cash and Cash Equivalents, Restricted Cash, and Funds Deposited by Counterparties at End of Period | $ | 41 |  |  | $ | 425 |  |  | $ | 620 |  |  | $ | — |  |  | $ | 1,086 |
(a) All significant intercompany transactions have been eliminated in consolidation

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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 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 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 + Details
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