XML 87 R60.htm IDEA: XBRL DOCUMENT v3.24.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income tax provision from continuing operations

The income tax provision consisted of the following amounts:

			Year Ended December 31,
(In millions, except effective income tax rate)			2023						2022						2021
Current
U.S. Federal			$	26					$	3					$	—
State			84						65						48
Foreign			(12)						3						3
Total — current			98						71						51
Deferred
U.S. Federal			50						258						569
State			(61)						59						36
Foreign			(98)						54						16
Total — deferred			(109)						371						621
Total income tax (benefit)/expense			$	(11)					$	442					$	672
Effective income tax rate			5.2		%				26.6		%				23.5		%

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

The following represented the domestic and foreign components of income before income taxes:

			Year Ended December 31,
(In millions)			2023						2022						2021
U.S.			$	261					$	1,436					$	2,759
Foreign			(474)						227						100
Total			$	(213)					$	1,663					$	2,859

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)			2023						2022						2021
(Loss)/Income before income taxes			$	(213)					$	1,663					$	2,859
Tax at federal statutory tax rate			(45)						349						600
State taxes			(22)						69						111
Foreign rate differential			(10)						7						(3)
Changes in state valuation allowances			42						(3)						(29)
Permanent differences			31						17						8
Recognition of uncertain tax benefits			12						8						(10)
Deferred impact of state tax rate changes			3						14						(10)
Foreign tax refunds			(17)						—						—
Return to provision adjustments			(5)						—						5
Carbon capture tax credits			—						(19)						—
Income tax (benefit)/expense			$	(11)					$	442					$	672
Effective income tax rate			5.2		%				26.6		%				23.5		%

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)			2023						2022
Deferred tax assets:
U.S. Federal net operating loss carryforwards			$	1,762					$	1,717
State net operating loss carryforwards			367						315
Foreign net operating loss carryforwards			110						104
Deferred revenues			347						—
Difference between book and tax basis of property			353						399
Federal and state tax credit carryforwards			317						393
Deferred compensation, accrued vacation and other reserves			141						93
Interest disallowance carryforward per §163(j) of the Tax Act			132						65
Pension and other postretirement benefits			48						62
Allowance for credit losses			35						33
Equity compensation			24						8
Federal benefit on state uncertain tax positions			13						5
Inventory obsolescence			11						10
U.S. capital loss			1						15
Other			33						22
Total deferred tax assets			3,694						3,241
Deferred tax liabilities:
Intangibles amortization (excluding goodwill)			726						269
Derivatives			156						874
Capitalized contract costs			131						—
Equity method investments			93						82
Goodwill			40						26
Debt discount amortization			26						—
Emissions allowances			18						19
Total deferred tax liabilities			1,190						1,270
Total deferred tax assets less deferred tax liabilities			2,504						1,971
Valuation allowance			(275)						(224)
Total net deferred tax assets, net of valuation allowance			$	2,229					$	1,747

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)			2023						2022
Deferred tax asset			$	2,251					$	1,881
Deferred tax liability			(22)						(134)
Net deferred tax asset			$	2,229					$	1,747

Reconciliation of total amounts of uncertain tax benefits

The following table summarizes uncertain tax benefits activity:

			As of December 31,
(In millions)			2023						2022
Balance as of January 1			$	22					$	13
Increase due to current year positions			28						9
Increase due to acquired balance from Vivint Smart Home			23						—
Uncertain tax benefits as of December 31			$	73					$	22

X

- Definition

Disclosure of the current and non-current portion of net deferred tax assets and liabilities.

+ References

No definition available.

+ Details

Name:	nrg_ScheduleOfDeferredTaxComponentTableTextBlock
Namespace Prefix:	nrg_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration