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Capital Structure
 12 Months Ended
Dec. 31, 2014
Capital Structure [Abstract]  
Capital Structure
Capital Structure
Common Stock
Our authorized common stock consists of 1.4 billion shares of Calpine Corporation common stock. Common stock issued as of December 31, 2014 and 2013, was 502,287,022 shares and 497,841,056 shares, respectively, at a par value of $0.001 per share. Common stock outstanding as of December 31, 2014 and 2013, was 381,921,264 shares and 429,038,988 shares, respectively. The table below summarizes our common stock activity for the years ended December 31, 2014, 2013 and 2012.
 
Shares
Issued
 
Shares
Held in
Treasury
 
Shares
Outstanding
Balance, December 31, 2011
490,468,815

 
(8,725,077
)
 
481,743,738

Shares issued under Calpine Equity Incentive Plans
2,026,285

 
(284,376
)
 
1,741,909

Share repurchase program
—

 
(26,436,677
)
 
(26,436,677
)
Balance, December 31, 2012
492,495,100

 
(35,446,130
)
 
457,048,970

Shares issued under Calpine Equity Incentive Plans
5,345,956

 
(2,323,828
)
 
3,022,128

Share repurchase program
—

 
(31,032,110
)
 
(31,032,110
)
Balance, December 31, 2013
497,841,056

 
(68,802,068
)
 
429,038,988

Shares issued under Calpine Equity Incentive Plans
4,445,966

 
(1,879,167
)
 
2,566,799

Share repurchase program
—

 
(49,684,523
)
 
(49,684,523
)
Balance, December 31, 2014
502,287,022

 
(120,365,758
)
 
381,921,264


Treasury Stock
As of December 31, 2014 and 2013, we had treasury stock of 120,365,758 shares and 68,802,068 shares, respectively, with a cost of $2.3 billion and $1.2 billion, respectively. During 2014, we repurchased a total of 36.5 million shares of our outstanding common stock for approximately $789 million at an average price of $21.62 per share, excluding the shareholder transaction described below. In 2015, through the filing of this Report, we have repurchased a total of 5.8 million shares of our outstanding common stock for approximately $125 million at an average price of $21.68 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 and net share employee stock options exercises under the Equity Plan. All treasury stock is held at cost.
Shareholder Transaction
On July 8, 2014, we entered into a share repurchase agreement, at the prevailing market price, with a shareholder that beneficially owned slightly less than 10% of our outstanding common stock to purchase 13,213,372 shares of our common stock for the aggregate purchase price of $311,464,283 in a private transaction. We used cash on hand to fund the transaction which settled on July 10, 2014, and the repurchased shares have been returned to treasury stock.