v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income (loss) $ (189) $ 31 $ 145
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization expense 587 [1] 615 [1] 556 [1]
Debt extinguishment costs 82 91 37
Deferred income taxes (21) (26) 16
Impairment losses 0 116 4
(Gain) loss on sale of power plants and other, net 13 (314) 37
Unrealized mark-to-market activities, net (30) [2] 56 [2] (87) [2]
(Income) loss from unconsolidated investments in power projects (21) (16) (50)
Return on unconsolidated investments in power plants 6 11 11
Stock-based compensation expense 24 24 38
Other 6 1 (2)
Change in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable 74 91 108
Derivative instruments, net 15 (52) (118)
Other assets 1 277 235
Accounts payable and accrued expenses 28 (43) (19)
Settlement of non-hedging interest rate swaps 189 69 0
Other liabilities 11 (2) (150)
Net cash provided by operating activities 775 929 761
Cash flows from investing activities:      
Purchases of property, plant and equipment (683) (369) (179)
Proceeds from sale of power plants, interests and other 13 954 0
Purchase of Conectiv assets and BRSP, net of cash acquired 0 (1,680) 0
Cash acquired due to reconsolidation of OMEC 0 8 0
Capital contributions to unconsolidated investments 0 0 (19)
Return of investment from unconsolidated investments 0 0 9
Settlement of non-hedging interest rate swaps (189) (69) 0
(Increase) decrease in restricted cash 54 322 (59)
Purchases of deferred transmission credits (31) 0 0
Other 0 3 (2)
Net cash used in investing activities (836) (831) (250)
Cash flows from financing activities:      
Borrowings under Term Loan and New Term Loan 1,657 0 0
Repayments on NDH Project Debt (1,283) 0 0
Issuance of First Lien Notes 1,200 3,491 0
Repayments on First Lien Credit Facility (1,195) (3,477) (785)
Borrowings from project financing, notes payable and other 327 1,272 1,034
Repayments of project financing, notes payable and other (550) (937) (1,361)
Capital contributions from noncontrolling interest holder 33 17 0
Financing costs (81) (136) (65)
Stock repurchases (119) 0 0
Refund of financing costs 0 10 0
Other (3) 0 (2)
Net cash provided by (used in) financing activities (14) 240 (1,179)
Net increase (decrease) in cash and cash equivalents (75) 338 (668)
Cash and cash equivalents, beginning of period 1,327 989 1,657
Cash and cash equivalents, end of period 1,252 1,327 989
Cash paid during the period for:      
Interest, net of amounts capitalized 656 635 761
Income taxes 18 21 7
Supplemental disclosure of non-cash investing and financing activities:      
Change in capital expenditures included in accounts payable (24) 1 6
Settlement of commodity contract with project financing 0 0 79
Liabilities assumed in BRSP acquisition 0 85 0
Conversion of Project Debt to Noncontrolling Interest 0 11 0
Issuance of First Lien Notes in exchange for First Lien Credit Facility term loans 0 0 1,200
Amended Steamboat project debt $ 0 $ 0 $ 448
[1] Includes depreciation and amortization included in fuel and purchased energy expense, interest expense and discontinued operations on our Consolidated Statements of Operations.
[2] In addition to changes in market value on derivatives not designated as hedges, changes in unrealized gain (loss) also includes de-designation of interest rate swap cash flow hedges and related reclassification from AOCI into income, hedge ineffectiveness and adjustments to reflect changes in credit default risk exposure.