v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 249 $ 961 $ 18
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization(1) [1] 757 649 638
Debt extinguishment costs 6 36 43
Deferred income taxes (87) 5 14
Impairment losses 0 123 16
(Gain) on sale of assets, net 0 (753) 0
Mark-to-market activity, net [2] 110 (353) 12
(Income) from unconsolidated investments in power plants (24) (25) (30)
Return on unconsolidated investments in power plants 25 13 25
Stock-based compensation expense 26 36 36
Other 7 (4) 1
Change in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable 169 (87) (113)
Derivative instruments, net (183) (63) (7)
Other assets (120) 151 (148)
Accounts payable and accrued expenses (221) 185 (1)
Other liabilities 149 (20) 45
Net cash provided by operating activities 863 854 549
Cash flows from investing activities:      
Purchases of property, plant and equipment (565) (492) (575)
Proceeds from sale of power plants, interests and other 0 1,573 1
(Increase) decrease in restricted cash 18 28 (18)
Other 3 4 (1)
Net cash used in investing activities (841) (84) (593)
Cash flows from financing activities:      
Borrowings under CCFC Term Loans and First Lien Term Loans 2,137 420 1,587
Repayments of CCFC Term Loans, CCFC Notes and First Lien Term Loans (1,635) (45) (1,031)
Borrowings under Senior Unsecured Notes 650 2,800 0
Borrowings under First Lien Notes 0 0 1,234
Repayments of First Lien Notes (267) (2,920) (1,550)
Borrowings from project financing, notes payable and other 79 79 182
Repayments of project financing, notes payable and other (232) (178) (66)
Distribution to noncontrolling interest holder (10) (15) 0
Financing costs (34) (56) (53)
Stock repurchases (529) (1,100) (623)
Proceeds from exercises of stock options 8 20 20
Other 0 1 1
Net cash provided by (used in) financing activities 167 (994) (299)
Net increase (decrease) in cash and cash equivalents 189 (224) (343)
Cash and cash equivalents, beginning of period 717 941 1,284
Cash and cash equivalents, end of period 906 717 941
Cash paid during the period for:      
Interest, net of amounts capitalized 620 610 672
Income taxes 21 23 24
Supplemental disclosure of non-cash investing and financing activities:      
Change in capital expenditures included in accounts payable 13 3 27
Additions to property, plant and equipment through capital leases 9 19 0
Treasury Stock, Retired, Cost Method, Amount (1)    
Fore River and Guadalupe Energy Centers [Member]      
Cash flows from investing activities:      
Payments to Acquire Businesses, Net of Cash Acquired (1) (1,197) 0
Champion Energy [Member]      
Cash flows from investing activities:      
Payments to Acquire Businesses, Net of Cash Acquired (296) 0 0
Treasury Stock [Member]      
Cash flows from operating activities:      
Net income 0 0 0
Cash flows from financing activities:      
Distribution to noncontrolling interest holder 0 0  
Proceeds from exercises of stock options 0 0 0
Supplemental disclosure of non-cash investing and financing activities:      
Treasury Stock, Retired, Cost Method, Amount $ 2,885 $ 0 $ 0
[1] Includes depreciation and amortization included in commodity revenue, commodity expense and interest expense on our Consolidated 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.