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Changes in Capital Structure (Tables) | 9 Months Ended
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Sep. 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:
| Preferred |  | Common
| Issued and Outstanding |  | Issued |  | Treasury |  | Outstanding
Balance as of December 31, 2023 | 650,000 |  |  | 267,330,470 |  |  | (59,199,520) |  |  | 208,130,950 |
Shares issued under LTIPs | — |  |  | 1,836,827 |  |  | — |  |  | 1,836,827 |
Shares issued under ESPP | — |  |  | — |  |  | 145,562 |  |  | 145,562 |
Shares repurchased | — |  |  | — |  |  | (5,181,424) |  |  | (5,181,424) |
Partial settlement of Capped Call Options | — |  |  | — |  |  | (2,588) |  |  | (2,588) |
Retirement of treasury stock | — |  |  | (5,111,012) |  |  | 5,111,012 |  |  | — |
Balance as of September 30, 2024 | 650,000 |  |  | 264,056,285 |  |  | (59,126,958) |  |  | 204,929,327 |
Shares issued under LTIPs | — |  |  | 64,861 |  |  | — |  |  | 64,861 |
Shares issued under ESPP | — |  |  | — |  |  | 96,508 |  |  | 96,508 |
Shares repurchased | — |  |  | — |  |  | (2,524,323) |  |  | (2,524,323) |
Retirement of treasury stock | — |  |  | (2,064,950) |  |  | 2,064,950 |  |  | — |
Balance as of October 31, 2024 | 650,000 |  |  | 262,056,196 |  |  | (59,489,823) |  |  | 202,566,373 |
Share Repurchases | The following table summarizes the share repurchases made under the $3.7 billion authorization through October 31, 2024:
| Total number of shares purchased | Average price paid per share | Amounts paid for shares purchased (in millions)
2023 Repurchases: |  |  |  |
Open market repurchases | 5,054,798 |  | $ | 39.56 |  | $ | 200 |  |
Repurchases made under the accelerated share repurchase agreements | 17,676,142 |  | (b) | 950 |  |
Total Share Repurchases during 2023 | 22,730,940 |  |  | 1,150 |  | (a)
2024 Repurchases: |  |  |  |
Repurchases made under the accelerated share repurchase agreements | 1,163,230 |  | (b) | — |  |
Open market repurchases(c) | 4,018,194 |  | $ | 79.26 |  | 319 |  |
Total Share Repurchases during the nine months ended September 30, 2024 | 5,181,424 |  |  | $ | 319 |  | (d)
Open market repurchases October 1, 2024 through October 31, 2024 | 2,524,323 |  | $ | 89.23 |  | 225 |  |
Total Share Repurchases under the $3.7 billion authorization | 30,436,687 |  | $ | 55.65 |  | $ | 1,694 |  |
(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)Includes $3 million accrued as of September 30, 2024 (d)Excludes $3 million accrued for estimated excise tax owed as of September 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 retired |  | Average price per share |  | Carrying value of treasury shares retired (in millions)
Shares retired during the first quarter of 2024 | 1,163,230 |  |  | $ | 32.67 |  |  | $ | 38 |
Shares retired during the second quarter of 2024 | 1,114,400 |  |  | 33.84 |  |  | 38 |
Shares retired during the third quarter of 2024 | 2,833,382 |  |  | 35.40 |  |  | 100
Total shares retired during the nine months ended September 30, 2024 | 5,111,012 |  |  |  |  | $ | 176 |

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