XML 142 R50.htm IDEA: XBRL DOCUMENT v3.20.1

Debt and Finance Leases (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Long-term Debt and Capital Leases

Long-term debt and finance leases consisted of the following:

(In millions, except rates)			December 31, 2019						December 31, 2018						December 31, 2019 Interest rate %
Recourse debt:
Senior Notes, due 2024			$	—					$	733					6.250
Senior Notes, due 2026			1,000						1,000						7.250
Senior Notes, due 2027			1,230						1,230						6.625
Senior Notes, due 2028			821						821						5.750
Senior Notes, due 2029			733						—						5.250
Convertible Senior Notes, due 2048(a)			575						575						2.750
Senior Secured First Lien Notes, due 2024			600						—						3.750
Senior Secured First Lien Notes, due 2029			500						—						4.450
2023 Term Loan Facility (b)			—						1,698						L+ 1.75
Revolving Credit Facility (c)			83						—						L+ 1.75
Tax-exempt bonds			466						466						4.125 - 6.00
Subtotal recourse debt			6,008						6,523
Non-recourse debt:
Agua Caliente Borrower 1, due 2038			—						86						5.430
Midwest Generation, due 2019			—						48						4.390
Other			34						34						various
Subtotal all non-recourse debt			34						168
Subtotal long-term debt (including current maturities)			6,042						6,691
Finance leases			—						1						various
Subtotal long-term debt and finance leases (including current maturities)			6,042						6,692
Less current maturities			(88)						(72)
Less debt issuance costs			(65)						(70)
Discounts			(86)						(101)
Total long-term debt and finance leases			$	5,803					$	6,449

(a) The effective interest rate was 5.05% and 5.02% for the years ended December 31, 2019 and 2018, respectively

(b) As of December 31, 2018, the interest rate was 1-month LIBOR plus 1.75%

(c) As of December 31, 2019, the interest rate was 1-week LIBOR plus 1.75%

Debt includes the following discounts:

						As of December 31,
(In millions)						2019						2018
Term loan facility, due 2023						$	—					$	(4)
Midwest Generation, due 2019						—						(1)
Senior Secured First Lien Notes, due 2024 and 2029						(1)						—
Convertible Senior Notes, due 2048						(85)						(96)
Total discounts						$	(86)					$	(101)

Annual Payments Based On the Maturities of NRG's Debt

As of December 31, 2019, annual payments based on the maturities of NRG's debt are expected to be as follows:

			(In millions)
2020(a)			$	88
2021			6
2022			5
2023			4
2024			604
Thereafter			5,335
Total			$	6,042

(a) Includes $83 million of Revolving Credit Facility balance outstanding as of December 31, 2019

Debt Redemption

(In millions, except percentages)						Principal Repurchased						Cash Paid (a)						Average Early Redemption Percentage
5.750% senior notes due 2028						$	29					$	30					99.24		%
6.250% senior notes due 2022						14						15						103.25		%
Total at June 30, 2018						$	43					$	45
6.250% senior notes due 2022						493						512						103.13		%
5.750% senior notes due 2028						20						20						99.13		%
6.625% senior notes due 2027						20						21						103.06		%
Total at September 30, 2018						$	576					$	598
6.250% senior notes due 2022						485						508						103.13		%
Total at December 31, 2018						$	1,061					$	1,106

(a) Includes accrued interest of $14 million

In addition, on or after May 15, 2021, NRG may redeem some or all of the notes at redemption prices expressed as percentages of principal amount as set forth in the following table, plus accrued and unpaid interest on the notes redeemed to the first applicable redemption date:

Redemption Period			Redemption Percentage
May 15, 2021 to May 14, 2022			103.625		%
May 15, 2022 to May 14, 2023			102.417		%
May 15, 2023 to May 14, 2024			101.208		%
May 15, 2024 and thereafter			100.000		%

In addition, on or after July 15, 2021, NRG may redeem some or all of the notes at redemption prices expressed as percentages of principal amount as set forth in the following table, plus accrued and unpaid interest on the notes redeemed to the first applicable redemption date:

Redemption Period			Redemption Percentage
July 15, 2021 to July14, 2022			103.313		%
July 15, 2022 to July 14, 2023			102.208		%
July 15, 2023 to July 14, 2024			101.104		%
July 15, 2024 and thereafter			100.000		%

In addition, on or after January 15, 2023, NRG may redeem some or all of the notes at redemption prices expressed as percentages of principal amount as set forth in the following table, plus accrued and unpaid interest on the notes redeemed to the first applicable redemption date:

Redemption Period			Redemption Percentage
January 15, 2023 to January 14, 2024			102.875		%
January 15, 2024 to January 14, 2025			101.917		%
January 15, 2025 to January 14, 2026			100.958		%
January 15, 2026 and thereafter			100.000		%

In addition, on or after June 15, 2024, NRG may redeem some or all of the notes at redemption prices expressed as percentages of principal amount as set forth in the following table, plus accrued and unpaid interest on the notes redeemed to the first applicable redemption date:

Redemption Period			Redemption Percentage
June 15, 2024 to June 14, 2025			102.625		%
June 15, 2025 to June 14, 2026			101.750		%
June 15, 2026 to June 14, 2027			100.875		%
June 15, 2027 and thereafter			100.000		%

Schedule of Tax Exempt Bonds

Tax Exempt Bonds

						As of December 31,
(In millions, except rates)						2019						2018						Interest Rate %
Indian River Power, tax exempt bonds, due 2040						$	57					$	57					6.000
Indian River Power LLC, tax exempt bonds, due 2045						190						190						5.375
Dunkirk Power LLC, tax exempt bonds, due 2042						59						59						5.875
City of Texas City, tax exempt bonds, due 2045						33						33						4.125
Fort Bend County, tax exempt bonds, due 2038						54						54						4.750
Fort Bend County, tax exempt bonds, due 2042						73						73						4.750
Total						$	466					$	466

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of debt instruments or arrangements with redemption features. Includes, but is not limited to, description of debt redemption features, percentage price at which debt can be redeemed by the issuer, and period start and end for debt maturity or redemption.

+ References

No definition available.

+ Details

Name:	us-gaap_DebtInstrumentRedemptionTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Name:	us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration