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Acquisitions and Dispositions (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocation

The purchase price is provisionally allocated as follows:

			(In millions)
Current Assets
Cash and cash equivalents			$	120
Accounts receivable, net			60
Inventory			113
Prepayments and other current assets			37
Total current assets			330
Property, plant and equipment, net			49
Other Assets
Operating lease right-of-use assets, net			35
Goodwill(a)			3,692
Intangibles assets, net			2,500
Deferred income taxes			451
Other non-current assets			14
Total other assets			6,692
Total Assets			$	7,071
Current Liabilities
Current portion of long-term debt and finance leases			$	14
Current portion of operating lease liabilities			13
Accounts payable			109
Derivatives instruments			80
Deferred revenue current			517
Accrued expenses and other current liabilities			207
Total current liabilities			940
Other Liabilities
Long-term debt and finance leases			2,572
Non-current operating lease liabilities			28
Derivatives instruments			32
Deferred income taxes			18
Deferred revenue non-current			835
Other non-current liabilities			23
Total other liabilities			3,508
Total Liabilities			$	4,448
Vivint Purchase Price			$	2,623

(a) Goodwill arising from the acquisition is attributed to the value of the platform acquired, cross-selling opportunities, customer growth and the synergies expected from combining the operations of Vivint with NRG's existing businesses. None of the goodwill recorded is expected to be deductible for tax purposes.

Schedule of Total Consideration

The total consideration of $2.623 billion includes:

						(In millions)
Vivint common shares outstanding as of March 10, 2023 of 216,901,639 at $12.00 per share						$	2,603
Other Vivint equity instruments (Cash out RSUs and PSUs, Stock Appreciation Rights, Private Placement Warrants)						6
Total Cash Consideration						$	2,609
Fair value of acquired Vivint equity awards attributable to pre-combination service						14
Total Consideration						$	2,623

Schedule of Pro Forma Financial Information

The pro forma financial information has been prepared for illustrative and informational purposes only, and is not intended to project future operating results or be indicative of what the Company's financial performance would have been had the transactions occurred on the date acquired. No effect has been given to operating synergies.

(In millions)			Three months ended March 31, 2023						Three months ended March 31, 2022
Total operating revenues			$	8,008					$	8,288
Net (loss)/ income			(1,329)						1,558

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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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