v2.3.0.11

Segment Information | 6 Months Ended
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Jun. 30, 2011
Segment Information [Abstract] |
Segment Information | 13. Segment Information We assess our business on a regional basis due to the impact on our financial performance of the differing characteristics of these regions, particularly with respect to competition, regulation and other factors impacting supply and demand. At June 30, 2011, our reportable segments were West (including geothermal), Texas, North (including Canada and the assets purchased in the Conectiv Acquisition) and Southeast. We continue to evaluate the optimal manner in which we assess our performance including our segments and future changes may result. Commodity Margin includes our power and steam revenues, sales of purchased power and physical natural gas, capacity revenue, REC revenue, sales of surplus emission allowances, transmission revenue and expenses, fuel and purchased energy expense, fuel transportation expense, RGGI compliance and other environmental costs, and cash settlements from our marketing, hedging and optimization activities including natural gas transactions hedging future power sales that are included in mark-to-market activity, but excludes the unrealized portion of our mark-to-market activity and other revenues. Commodity Margin is a key operational measure reviewed by our chief operating decision maker to assess the performance of our segments. The tables below show our financial data for our segments for the periods indicated (in millions). Our North segment information for the three and six months ended June 30, 2011, includes the financial results of the assets we acquired from Conectiv, with no similar revenues and expenses included for the three and six months ended June 30, 2010. See Note 2 for further information about our Conectiv Acquisition.
|  | Three Months Ended June 30, 2011 |
|  | West |  |  | Texas |  |  | North |  |  | Southeast |  |  | Consolidation and Elimination |  |  | Total |
Revenues from external customers |  | $ | 466 |  |  | $ | 646 |  |  | $ | 324 |  |  | $ | 197 |  |  | $ | — |  |  | $ | 1,633 |
Intersegment revenues |  |  | 1 |  |  |  | 5 |  |  |  | 5 |  |  |  | 40 |  |  |  | (51 | ) |  |  | — |
Total operating revenues |  | $ | 467 |  |  | $ | 651 |  |  | $ | 329 |  |  | $ | 237 |  |  | $ | (51 | ) |  | $ | 1,633 |
Commodity Margin |  | $ | 236 |  |  | $ | 128 |  |  | $ | 179 |  |  | $ | 59 |  |  | $ | — |  |  | $ | 602 |
Add: Mark-to-market commodity activity, net and other revenue(1) |  |  | 11 |  |  |  | 27 |  |  |  | — |  |  |  | — |  |  |  | (9 | ) |  |  | 29 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Plant operating expense |  |  | 116 |  |  |  | 63 |  |  |  | 47 |  |  |  | 41 |  |  |  | (6 | ) |  |  | 261 |
Depreciation and amortization expense |  |  | 42 |  |  |  | 35 |  |  |  | 33 |  |  |  | 22 |  |  |  | (1 | ) |  |  | 131 |
Sales, general and other administrative expense |  |  | 8 |  |  |  | 13 |  |  |  | 6 |  |  |  | 6 |  |  |  | 1 |  |  |  | 34 |
Other operating expenses(2) |  |  | 11 |  |  |  | 3 |  |  |  | 9 |  |  |  | 2 |  |  |  | (5 | ) |  |  | 20 |
Loss from unconsolidated investments in power plants |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 2 |
Income (loss) from operations |  |  | 70 |  |  |  | 41 |  |  |  | 82 |  |  |  | (12 | ) |  |  | 2 |  |  |  | 183 |
Interest expense, net of interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 190 |
(Gain) loss on interest rate derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 37 |
Debt extinguishment costs and other (income) expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 |
Loss before income taxes and discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (52 | )
|  | Three Months Ended June 30, 2010 |
|  | West |  |  | Texas |  |  | North |  |  | Southeast |  |  | Consolidation and Elimination |  |  | Total |
Revenues from external customers |  | $ | 525 |  |  | $ | 552 |  |  | $ | 134 |  |  | $ | 219 |  |  | $ | — |  |  | $ | 1,430 |
Intersegment revenues |  |  | 1 |  |  |  | 6 |  |  |  | 1 |  |  |  | 21 |  |  |  | (29 | ) |  |  | — |
Total operating revenues |  | $ | 526 |  |  | $ | 558 |  |  | $ | 135 |  |  | $ | 240 |  |  | $ | (29 | ) |  | $ | 1,430 |
Commodity Margin |  | $ | 258 |  |  | $ | 128 |  |  | $ | 79 |  |  | $ | 68 |  |  | $ | — |  |  | $ | 533 |
Add: Mark-to-market commodity activity, net and other revenue(1) |  |  | 10 |  |  |  | (10 | ) |  |  | 3 |  |  |  | (9 | ) |  |  | (6 | ) |  |  | (12 | )
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Plant operating expense |  |  | 88 |  |  |  | 78 |  |  |  | 23 |  |  |  | 31 |  |  |  | (7 | ) |  |  | 213 |
Depreciation and amortization expense |  |  | 50 |  |  |  | 40 |  |  |  | 19 |  |  |  | 27 |  |  |  | (1 | ) |  |  | 135 |
Sales, general and other administrative expense |  |  | 11 |  |  |  | 16 |  |  |  | 22 |  |  |  | 2 |  |  |  | (1 | ) |  |  | 50 |
Other operating expenses(2) |  |  | 12 |  |  |  | (5 | ) |  |  | 7 |  |  |  | (1 | ) |  |  | 8 |  |  |  | 21 |
(Income) from unconsolidated investments in power plants |  |  | — |  |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |  |  | (6 | )
Income (loss) from operations |  |  | 107 |  |  |  | (11 | ) |  |  | 17 |  |  |  | — |  |  |  | (5 | ) |  |  | 108 |
Interest expense, net of interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 220 |
(Gain) loss on interest rate derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8 | )
Debt extinguishment costs and other (income) expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 |
Loss before income taxes and discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (112 | )
|  | Six Months Ended June 30, 2011 |
|  | West |  |  | Texas |  |  | North |  |  | Southeast |  |  | Consolidation and Elimination |  |  | Total |
Revenues from external customers |  | $ | 1,065 |  |  | $ | 1,096 |  |  | $ | 595 |  |  | $ | 376 |  |  | $ | — |  |  | $ | 3,132 |
Intersegment revenues |  |  | 4 |  |  |  | 10 |  |  |  | 13 |  |  |  | 85 |  |  |  | (112 | ) |  |  | — |
Total operating revenues |  | $ | 1,069 |  |  | $ | 1,106 |  |  | $ | 608 |  |  | $ | 461 |  |  | $ | (112 | ) |  | $ | 3,132 |
Commodity Margin |  | $ | 469 |  |  | $ | 195 |  |  | $ | 314 |  |  | $ | 113 |  |  | $ | — |  |  | $ | 1,091 |
Add: Mark-to-market commodity activity, net and other revenue(1) |  |  | 16 |  |  |  | (33 | ) |  |  | 4 |  |  |  | (4 | ) |  |  | (15 | ) |  |  | (32 | )
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Plant operating expense |  |  | 203 |  |  |  | 143 |  |  |  | 92 |  |  |  | 74 |  |  |  | (13 | ) |  |  | 499 |
Depreciation and amortization expense |  |  | 88 |  |  |  | 65 |  |  |  | 66 |  |  |  | 45 |  |  |  | (2 | ) |  |  | 262 |
Sales, general and other administrative expense |  |  | 19 |  |  |  | 23 |  |  |  | 12 |  |  |  | 11 |  |  |  | 1 |  |  |  | 66 |
Other operating expenses(2) |  |  | 19 |  |  |  | 3 |  |  |  | 16 |  |  |  | 3 |  |  |  | (3 | ) |  |  | 38 |
(Income) from unconsolidated investments in power plants |  |  | — |  |  |  | — |  |  |  | (7 | ) |  |  | — |  |  |  | — |  |  |  | (7 | )
Income (loss) from operations |  |  | 156 |  |  |  | (72 | ) |  |  | 139 |  |  |  | (24 | ) |  |  | 2 |  |  |  | 201 |
Interest expense, net of interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 378 |
(Gain) loss on interest rate derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 146 |
Debt extinguishment costs and other (income) expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 108 |
Loss before income taxes and discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (431 | )
|  | Six Months Ended June 30, 2010 |
|  | West |  |  | Texas |  |  | North |  |  | Southeast |  |  | Consolidation and Elimination |  |  | Total |
Revenues from external customers |  | $ | 1,190 |  |  | $ | 1,079 |  |  | $ | 257 |  |  | $ | 418 |  |  | $ | — |  |  | $ | 2,944 |
Intersegment revenues |  |  | 5 |  |  |  | 10 |  |  |  | 2 |  |  |  | 44 |  |  |  | (61 | ) |  |  | — |
Total operating revenues |  | $ | 1,195 |  |  | $ | 1,089 |  |  | $ | 259 |  |  | $ | 462 |  |  | $ | (61 | ) |  | $ | 2,944 |
Commodity Margin |  | $ | 471 |  |  | $ | 235 |  |  | $ | 131 |  |  | $ | 126 |  |  | $ | — |  |  | $ | 963 |
Add: Mark-to-market commodity activity, net and other revenue(1) |  |  | 18 |  |  |  | 86 |  |  |  | — |  |  |  | 13 |  |  |  | (14 | ) |  |  | 103 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Plant operating expense |  |  | 178 |  |  |  | 162 |  |  |  | 45 |  |  |  | 59 |  |  |  | (13 | ) |  |  | 431 |
Depreciation and amortization expense |  |  | 103 |  |  |  | 76 |  |  |  | 39 |  |  |  | 56 |  |  |  | (3 | ) |  |  | 271 |
Sales, general and other administrative expense |  |  | 26 |  |  |  | 16 |  |  |  | 25 |  |  |  | 6 |  |  |  | (1 | ) |  |  | 72 |
Other operating expenses(2) |  |  | 29 |  |  |  | 2 |  |  |  | 15 |  |  |  | 2 |  |  |  | (1 | ) |  |  | 47 |
(Income) from unconsolidated investments in power plants |  |  | — |  |  |  | — |  |  |  | (13 | ) |  |  | — |  |  |  | — |  |  |  | (13 | )
Income from operations |  |  | 153 |  |  |  | 65 |  |  |  | 20 |  |  |  | 16 |  |  |  | 4 |  |  |  | 258 |
Interest expense, net of interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 399 |
(Gain) loss on interest rate derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3 |
Debt extinguishment costs and other (income) expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Loss before income taxes and discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (157 | )
_________
(1) | Mark-to-market commodity activity represents the unrealized portion of our mark-to-market activity, net, included in operating revenues and fuel and purchased energy expense on our Consolidated Condensed Statements of Operations.
(2) | Excludes $2 million and $5 million of RGGI compliance and other environmental costs for the three months ended June 30, 2011 and 2010, respectively, and $4 million and $5 million for the six months ended June 30, 2011 and 2010, respectively, which are included as a component of Commodity Margin.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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