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Acquisitions and Dispositions (Tables) | 3 Months Ended
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Mar. 31, 2021
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | The purchase price is provisionally allocated as follows:
| (In millions)
Current Assets |
Cash and cash equivalents | $ | 152 |
Funds deposited by counterparties | 21 |
Restricted cash | 9 |
Accounts receivable, net | 1,802 |
Inventory | 106 |
Derivative instruments | 1,014 |
Cash collateral paid in support of energy risk management activities | 233 |
Prepayments and other current assets | 181 |
Total current assets | 3,518 |
Property, plant and equipment, net | 178
Other Assets |
Goodwill(a)(b) | 990 |
Intangibles assets, net(b) | 2,559 |
Derivative instruments | 531
Other non-current assets | 31
Total other assets | 4,111 |
Total Assets | $ | 7,807 |
Current Liabilities |
Accounts payable | $ | 1,390 |
Derivative instruments | 1,266 |
Cash collateral received in support of energy risk management activities | 21 |
Accrued expenses and other current liabilities | 440 |
Total current liabilities | 3,117 |
Other Liabilities |
Derivative instruments | 562 |
Deferred income taxes | 433 |
Other non-current liabilities | 31 |
Total other liabilities | 1,026 |
Total Liabilities | $ | 4,143 |
Direct Energy Purchase Price | $ | 3,664 |
(a) Goodwill arising from the acquisition is attributed to the value of the platform acquired and the synergies expected from combining the operations of Direct Energy with NRG's existing businesses. Goodwill expected to be deductible for tax purposes is $337 million. (b) The allocation of goodwill and intangible assets to the Company's reportable segments is anticipated to be completed in the second quarter of 2021
Schedule of Line of Credit Facilities | The Company also increased its collective liquidity and collateral facilities by $3.4 billion as of the Acquisition Closing Date to meet the additional liquidity requirements related to the acquisition, as detailed in the following table:
| (In millions)
Available on Acquisition Closing Date |
Revolving Credit Facility commitment increase | $ | 802 |
Revolving Credit Facility new tranche | 273 |
Facility agreement in connection with the sale of pre-capitalized trust securities | 874 |
Available as of December 31, 2020 |
Credit default swap facility | 150 |
Revolving accounts receivable financing facility | 750 |
Repurchase facility | 75 |
Bilateral letter of credit facilities | 475 |
Total Increases to Liquidity and Collateral Facilities | $ | 3,399 |
Schedule of Classified Held for Sale | As of March 31, 2021, the following is classified as held for sale in the Consolidated Balance Sheet:
| (In millions)(a)
Current assets(b) | $ | 55 |
Property, plant and equipment, net | 385 |
Other non-current assets | 3 |
Total non-current assets(c) | 388 |
Total assets held for sale | $ | 443 |
Current liabilities(d) | 27 |
Non-current liabilities(e) | 60 |
Total liabilities held for sale | $ | 87 |
(a) Property, plant and equipment, net for the East and West/Services/Other segments was $237 million and $148 million, respectively. The remaining assets and liabilities were primarily in the East segment (b) Included in prepayments and other current assets in the Consolidated Balance Sheet (c) Included in other non-current assets in the Consolidated Balance Sheet (d) Included in accrued expenses and other current liabilities in the Consolidated Balance Sheet (e) Included in other non-current liabilities in the Consolidated Balance Sheet

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