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Capital Structure
 12 Months Ended
Dec. 31, 2011
Capital Structure [Abstract]  
Capital Structure
Capital Structure
Common Stock
Pursuant to our Plan of Reorganization, all shares of our common stock outstanding prior to the Effective Date were canceled and the issuance of 485 million new shares of reorganized Calpine Corporation common stock was authorized to resolve allowed unsecured claims. A portion of the 485 million authorized shares was immediately distributed, and the remainder was reserved for distribution to holders of certain disputed claims that, although allowed as of the Effective Date, were unresolved. In June 2011, we settled the largest remaining claim outstanding and began the process of distributing the balance of the reserved shares, which was completed during the third quarter of 2011, pursuant to our Plan of Reorganization.
Our authorized common stock consists of 1.4 billion shares of Calpine Corporation common stock. Common stock issued as of December 31, 2011 and 2010, was 490,468,815 shares and 444,883,356 shares, respectively, at a par value of $0.001 per share. Common stock outstanding as of December 31, 2011 and 2010, was 481,743,738 shares and 444,435,198 shares, respectively. The table below summarizes our common stock activity for the years ended December 31, 2011, 2010 and 2009.
 
Shares
Issued
 
Shares
Held in
Treasury
 
Shares
Held in
Reserve
 
Inter-
Creditor
Disputes
 
Total
Balance, December 31, 2008
429,025,057

 
(65,032
)
 
48,162,203

 
9,752,261

 
486,874,489

Resolution of claims/inter-creditor disputes
13,167,420

 
—

 
(3,415,159
)
 
(9,752,261
)
 
—

Shares issued under Calpine Equity Incentive Plans
1,133,350

 
(262,540
)
 
—

 
—

 
870,810

Balance, December 31, 2009
443,325,827

 
(327,572
)
 
44,747,044

 
—

 
487,745,299

Resolution of claims
488,612

 
—

 
(488,612
)
 
—

 
—

Shares issued under Calpine Equity Incentive Plans
1,068,917

 
(120,586
)
 
—

 
—

 
948,331

Balance, December 31, 2010
444,883,356

 
(448,158
)
 
44,258,432

 
—

 
488,693,630

Resolution of claims
44,258,432

 
—

 
(44,258,432
)
 
—

 
—

Shares issued under Calpine Equity Incentive Plans
1,327,027

 
(139,846
)
 
—

 
—

 
1,187,181

Share repurchase program
—

 
(8,137,073
)
 
—

 
—

 
(8,137,073
)
Balance, December 31, 2011
490,468,815

 
(8,725,077
)
 
—

 
—

 
481,743,738


Treasury Stock
As of December 31, 2011 and 2010, we had treasury stock of 8,725,077 shares and 448,158 shares, respectively, with a cost of $125 million and $5 million, respectively. On August 23, 2011, we announced that our Board of Directors had authorized the repurchase of up to $300 million in shares of our common stock. The announced share repurchase program did not specify an expiration date. The repurchases may be commenced or suspended from time to time without prior notice. Through the filing of this Report, a total of 8,524,576 shares of our outstanding common stock have been repurchased under this program for approximately $124 million at an average price paid of $14.60 per share. Our treasury stock also consists of our common stock withheld to satisfy federal, state and local income tax withholding requirements for vested employee restricted stock awards.