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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income tax provision from continuing operations

The income tax provision from continuing operations consisted of the following amounts:

			Year Ended December 31,
(In millions, except effective income tax rate)			2019						2018						2017
Current
State			$	2					$	6					$	19
Foreign			4						—						—
Total — current			6						6						19
Deferred
U.S. Federal			(3,000)						(16)						(60)
State			(340)						16						(5)
Foreign			—						1						2
Total — deferred			(3,340)						1						(63)
Total income tax (benefit)/expense			$	(3,334)					$	7					$	(44)
Effective income tax rate			(424.2)		%				1.5		%				3.2		%

Domestic and foreign components of income/(loss) before income tax (benefit)/expense

The following represented the domestic and foreign components of income/(loss) from continuing operations before income taxes:

			Year Ended December 31,
(In millions)			2019						2018						2017
U.S.			$	771					$	468					$	(1,406)
Foreign			15						(1)						17
Total			$	786					$	467					$	(1,389)

Reconciliation of the U.S. federal statutory rate to NRG's effective rate

Reconciliations of the U.S. federal statutory tax rate to NRG's effective tax rate were as follows:

			Year Ended December 31,
(In millions, except effective income tax rate)			2019						2018						2017
Income/(loss) from continuing operations before income taxes			$	786					$	467					$	(1,389)
Tax at federal statutory tax rate			165						98						(486)
State taxes			13						18						19
Foreign operations			—						—						2
Permanent differences			(9)						7						—
Valuation allowance - current period activities			(3,492)						(106)						455
Book goodwill impairment			—						—						30
Deferred impact of state tax rate changes			12						—						—
Production tax credits ("PTC")			—						(7)						(8)
Recognition of uncertain tax benefits			(10)						1						(5)
Alternative minimum tax ("AMT") refundable credit			—						(4)						(64)
Tax Act - corporate income tax rate change			—						—						665
Valuation allowance due to corporate income tax rate change			—						—						(660)
Other			(13)						—						8
Income tax (benefit)/expense			$	(3,334)					$	7					$	(44)
Effective income tax rate			(424.2)		%				1.5		%				3.2		%

Company's deferred tax assets and liabilities

The temporary differences, which gave rise to the Company's deferred tax assets and liabilities consisted of the following:

			As of December 31,
(In millions)			2019						2018
Deferred tax assets:
Deferred compensation, accrued vacation and other reserves			$	81					$	134
Difference between book and tax basis of property			548						554
Goodwill			—						11
Differences between book and tax basis of contracts			—						38
Pension and other postretirement benefits			86						87
Equity compensation			11						9
Bad debt reserve			13						14
U.S. Federal net operating loss carryforwards			2,116						2,241
Foreign net operating loss carryforwards			105						63
State net operating loss carryforwards			360						379
Federal and state tax credit carryforwards			384						381
Federal benefit on state uncertain tax positions			4						6
Intangibles amortization (excluding goodwill)			—						21
Interest disallowance carryforward per §163(j) of the Tax Act			82						102
Inventory obsolescence			7						7
Other			3						—
Discontinued operations			—						17
Total deferred tax assets			3,800						4,064
Deferred tax liabilities:
Emissions allowances			19						15
Derivatives, net			27						37
Goodwill			8						—
Intangibles amortization (excluding goodwill)			15						—
Equity method investments			201						180
Convertible Debt			19						21
Other			—						1
Discontinued operations			—						36
Total deferred tax liabilities			289						290
Total deferred tax assets less deferred tax liabilities			3,511						3,774
Valuation allowance			(242)						(3,812)
Discontinued operations			—						19
Total deferred tax assets/(liabilities), net of valuation allowance			$	3,269					$	(19)

Summary of NRG's net deferred tax position

The following table summarizes NRG's net deferred tax position as presented in the consolidated balance sheets:

			As of December 31,
(In millions)			2019						2018
Deferred tax asset			$	3,286					$	46
Deferred tax liability			(17)						(65)
Net deferred tax asset/(liability)			$	3,269					$	(19)

Reconciliation of total amounts of uncertain tax benefits

The following table summarizes uncertain tax benefits activity:

			As of December 31,
(In millions)			2019						2018
Balance as of January 1			$	26					$	30
Increase due to current year positions			2						4
Settlements, payments and statute closure			(13)						(8)
Uncertain tax benefits as of December 31			$	15					$	26

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