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Changes in Capital Structure (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Changes in NRG's Preferred Stock and Commons Shares Issued and Outstanding The following table reflects the changes in NRG's preferred and common stock issued and outstanding:
PreferredCommon
Issued and OutstandingIssuedTreasuryOutstanding
Balance as of December 31, 2023650,000 267,330,470 (59,199,520)208,130,950 
Shares issued under LTIPs— 1,499,546 — 1,499,546 
Shares issued under ESPP— — 145,562 145,562 
Shares repurchased — — (2,277,630)(2,277,630)
Retirement of treasury stock— (2,277,630)2,277,630 — 
Balance as of June 30, 2024650,000 266,552,386 (59,053,958)207,498,428 
Shares issued under LTIPs— 9,703 — 9,703 
Shares repurchased— — (1,127,232)(1,127,232)
Partial settlement of Capped Call Options— — (1,067)(1,067)
Retirement of treasury stock— (955,232)955,232 — 
Balance as of July 31, 2024
650,000 265,606,857 (59,227,025)206,379,832 
Share Repurchases The following table summarizes the share repurchases made under the $2.7 billion authorization through July 31, 2024:
Total number of shares purchasedAverage price paid per shareAmounts paid for shares purchased (in millions)
2023 Repurchases:
Open market repurchases
5,054,798 $39.56 $200 
Repurchases made under the accelerated share repurchase agreements17,676,142 (b)950 
Total Share Repurchases during 202322,730,940 1,150 (a)
2024 Repurchases:
Repurchases made under the accelerated share repurchase agreements1,163,230 (b)— 
Open market repurchases
1,114,400 $80.76 90 
Total Share Repurchases during the six months ended June 30, 20242,277,630 $90 (c)
Open market repurchases July 1, 2024 through July 31, 2024
1,127,232 $76.27 86 
Total Share Repurchases under the $2.7 billion authorization
26,135,802 $50.73 $1,326 
(a)Excludes $10 million accrued for excise tax owed as of December 31, 2023
(b)Under the November 6, 2023 ASR, the Company received a total of 18,839,372 shares for an average price per share of $50.43, excluding the impact of the excise tax incurred. See discussion below for further information of the ASR agreements
(c)Excludes $1 million accrued for excise tax owed as of June 30, 2024
Schedule of Retirement of Treasury Stock The Company's accounting policy upon the formal retirement of treasury stock is to deduct its par value from common stock and to reflect any excess of cost over par value as a deduction from additional paid-in-capital.
Total number of treasury shares retiredAverage price per shareCarrying value of treasury shares retired (in millions)
Shares retired during the first quarter of 20241,163,230 $32.67 $38 
Shares retired during the second quarter of 20241,114,400 33.84 38
Total shares retired during the six months ended June 30, 20242,277,630 $76