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Investments Accounted for by the Equity Method and Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Summary NRG's equity method investments
The following table summarizes NRG's equity method investments as of December 31, 2020:
(In millions, except percentages)
NameEconomic
Interest
Investment Balance(a)
Agua Caliente35.0 %$185 
Gladstone37.5 %131 
Ivanpah Master Holdings, LLC54.5 %17 
Watson Cogeneration Company49.0 %14 
Midway-Sunset Cogeneration Company50.0 %12 
Petra Nova Parish Holdings, LLC(b)
50.0 %(13)
Total equity investments in affiliates$346 
(a)As of December 31, 2020, the carry value of NRG's equity method investment was $343 million lower than the underlying net assets of the investees. The basis difference is being amortized into net income over the remaining estimated useful lives of the underlying net assets. The basis difference is primarily due to impairments booked on Petra Nova, but not booked at the project level, as well as differences related to the deconsolidations of Ivanpah and Agua Caliente in 2018 and the treatment of certain deferred tax assets.
(b)Refer to Note 11, Asset Impairments, for discussion of NRG's investment in Petra Nova Parish Holdings, LLC
Undistributed earnings by equity investment
 As of December 31,
(In millions)20202019
Undistributed earnings from equity investments$30 $42 
Summary of Financial Information for Consolidated VIEs
The summarized financial information for the Company's consolidated VIEs consisted of the following:
(In millions)December 31, 2020December 31, 2019
Accounts receivable$647 $3 
Other current assets2 — 
Net property, plant and equipment— 71 
Other long-term assets— 27 
Total assets649 101 
Current liabilities78 4 
Long-term debt— 24 
Other long-term liabilities— 8 
Total liabilities78 36 
Redeemable noncontrolling interests— 20 
Net assets less noncontrolling interests$571 $45