v3.3.0.814
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 293 $ 747
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense(1) [1] 519 486
Non cash gains losses on extinguishment of debt 0 35
Deferred income taxes 12 (9)
Impairment losses 0 123
Gain (Loss) on Disposition of Assets 0 753
Mark-to-market activity, net [2] 4 (88)
(Income) from unconsolidated investments in power plants (18) (18)
Return on unconsolidated investments in power plants 23 13
Stock-based compensation expense 19 30
Change in operating assets and liabilities:    
Accounts receivable 42 (120)
Derivative instruments, net (44) (69)
Other assets (199) 54
Accounts payable and accrued expenses (211) 127
Other liabilities 108 (54)
Net cash provided by operating activities 548 504
Cash flows from investing activities:    
Purchases of property, plant and equipment (411) (354)
Proceeds from sale of power plants, interests and other 0 1,573
Purchase of Guadalupe Energy Center 0 (656)
Increase in restricted cash (31) (15)
Other (8) 2
Net cash provided by (used in) investing activities (450) 550
Cash flows from financing activities:    
Borrowings under CCFC Term Loans and First Lien Term Loans 1,592 420
Repayment of CCFC Term Loans and First Lien Term Loans (1,622) (34)
Borrowings under Senior Unsecured Notes 650 2,800
Repurchase of First Lien Notes (147) (2,800)
Proceeds from Issuance of Long-term Debt 0 79
Repayments of project financing, notes payable and other (102) (116)
Distribution to noncontrolling interest holder 6 12
Financing costs (17) (55)
Stock repurchases (510) (767)
Proceeds from exercises of stock options 6 19
Net cash used in financing activities (156) (466)
Net increase (decrease) in cash and cash equivalents (58) 588
Cash and cash equivalents, beginning of period 717 941
Cash and cash equivalents, end of period 659 1,529
Cash paid during the period for:    
Interest, net of amounts capitalized 465 534
Income taxes 19 19
Supplemental disclosure of non-cash investing and financing activities:    
Change in capital expenditures included in accounts payable (17) 8
Capital Lease Obligations Incurred $ 9 $ 0
[1] Includes depreciation and amortization included in fuel and purchased energy expense and interest expense on our Consolidated Condensed Statements of Operations
[2] In addition to changes in market value on derivatives not designated as hedges, changes in mark-to-market gain (loss) also includes de-designation of interest rate swap cash flow hedges and related reclassification from AOCI into earnings, hedge ineffectiveness and adjustments to reflect changes in credit default risk exposure.