v2.4.0.6

Income Taxes Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2012
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The jurisdictional components of income (loss) from continuing operations before income tax expense (benefit), attributable to Calpine, for the years ended December 31, 2012, 2011 and 2010, are as follows (in millions):
| 2012 |  | 2011 |  | 2010
U.S. | $ | 194 |  |  | $ | (232 | ) |  | $ | (226 | )
International | 24 |  |  | 20 |  |  | (4 | )
Total | $ | 218 |  |  | $ | (212 | ) |  | $ | (230 | )
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) from continuing operations for the years ended December 31, 2012, 2011 and 2010, consisted of the following (in millions):
| 2012 |  | 2011 |  | 2010 |
Current: |  |  |  |  |  |
Federal | $ | (12 | ) |  | $ | (16 | ) |  | $ | (1 | ) |
State | 16 |  |  | 12 |  |  | 10 |  |
Foreign | 14 |  |  | 3 |  |  | 3 |  |
Total current | 18 |  |  | (1 | ) |  | 12 |  |
Deferred: |  |  |  |  |  |
Federal | 11 |  |  | (33 | ) |  | (70 | ) |
State | (5 | ) |  | 9 |  |  | — |  |
Foreign | (5 | ) |  | 3 |  |  | (10 | ) |
Total deferred | 1 |  |  | (21 | ) |  | (80 | ) |
Total income tax expense (benefit) | $ | 19 |  |  | $ | (22 | ) |  | $ | (68 | ) | (1 | )
_________
(1) | Includes approximately $13 million in intraperiod tax expense related to a prior period with an offsetting benefit in OCI.
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory rate of 35% to our effective rate from continuing operations for the years ended December 31, 2012, 2011 and 2010, is as follows:
| 2012 |  | 2011 |  | 2010
Federal statutory tax expense (benefit) rate | 35.0 | % |  | (35.0 | )% |  | (35.0 | )%
State tax expense, net of federal benefit | 3.2 |  |  | 6.5 |  |  | 2.8 |
Depletion in excess of basis | (0.2 | ) |  | — |  |  | (1.3 | )
Preferred interest expense | 2.0 |  |  | 0.4 |  |  | 0.5 |
Federal refunds | (4.7 | ) |  | — |  |  | — |
Valuation allowances against future tax benefits | (32.3 | ) |  | 56.7 |  |  | 33.6 |
Valuation allowances related to reconsolidation of CCFC | — |  |  | (36.0 | ) |  | — |
Valuation allowances related to foreign taxes | (8.2 | ) |  | — |  |  | — |
Foreign taxes | 3.7 |  |  | (0.9 | ) |  | 9.9 |
Non-deductible reorganization items | 0.1 |  |  | 0.5 |  |  | 0.3 |
Intraperiod allocation | 4.6 |  |  | 19.9 |  |  | (40.1 | )
Bankruptcy settlement | — |  |  | (15.7 | ) |  | — |
Change in unrecognized tax benefits | 5.1 |  |  | (6.6 | ) |  | 0.6 |
Permanent differences and other items | 0.4 |  |  | (0.2 | ) |  | (0.9 | )
Effective income tax expense (benefit) rate | 8.7 | % |  | (10.4 | )% |  | (29.6 | )%
Schedule of Deferred Tax Assets and Liabilities | The components of the deferred income taxes as of December 31, 2012 and 2011, are as follows (in millions):
| 2012 |  | 2011
Deferred tax assets: |  |  |
NOL and credit carryforwards | $ | 3,073 |  |  | $ | 3,290 |
Taxes related to risk management activities and derivatives | 90 |  |  | 58 |
Reorganization items and impairments | 315 |  |  | 318 |
Foreign capital losses | 25 |  |  | 24 |
Other differences | 60 |  |  | 26 |
Deferred tax assets before valuation allowance | 3,563 |  |  | 3,716 |
Valuation allowance | (2,222 | ) |  | (2,336 | )
Total deferred tax assets | 1,341 |  |  | 1,380 |
Deferred tax liabilities: property, plant and equipment | (1,316 | ) |  | (1,364 | )
Net deferred tax asset | 25 |  |  | 16 |
Less: Current portion deferred tax liability | (3 | ) |  | (2 | )
Less: Non-current deferred tax asset | 28 |  |  | 18 |
Deferred income tax liability, non-current | $ | — |  |  | $ | — |
Schedule of Income Tax Expense (Benefit) Intraperiod Tax Allocation | The following table details the effects of our intraperiod tax allocations for the years ended December 31, 2012, 2011 and 2010 (in millions).
| 2012 |  | 2011 |  | 2010
Intraperiod tax allocation expense (benefit) included in continuing operations | $ | 9 |  |  | $ | 42 |  |  | $ | (86 | )
Intraperiod tax allocation expense included in discountinued operations | $ | — |  |  | $ | — |  |  | $ | 59 |
Intraperiod tax allocation expense (benefit) included in OCI | $ | (9 | ) |  | $ | (45 | ) |  | $ | 27 |
Schedule of Income Tax Contingencies | A reconciliation of the beginning and ending amounts of our unrecognized tax benefits for the years ended December 31, 2012, 2011 and 2010, is as follows (in millions):
| 2012 |  | 2011 |  | 2010
Balance, beginning of period | $ | (74 | ) |  | $ | (88 | ) |  | $ | (98 | )
Increases related to prior year tax positions | (19 | ) |  | — |  |  | (1 | )
Decreases related to prior year tax positions | 1 |  |  | 1 |  |  | 11 |
Decrease related to lapse of statute of limitations | — |  |  | 13 |  |  | — |
Balance, end of period | $ | (92 | ) |  | $ | (74 | ) |  | $ | (88 | )

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 48 -Paragraph 21 -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. + Details
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