v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 111 $ 249 $ 961
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization(1) [1] 910 757 649
Debt extinguishment costs 20 6 36
Deferred income taxes 43 (87) 5
Impairment losses 13 0 123
(Gain) on sale of assets, net (157) 0 (753)
Mark-to-market activity, net [2] (1) 110 (353)
(Income) from unconsolidated subsidiaries (24) (24) (25)
Return on investments from unconsolidated subsidiaries 21 25 13
Stock-based compensation expense 31 26 36
Other 8 7 (4)
Change in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable (128) 169 (87)
Derivative instruments, net (82) (183) (63)
Other assets 150 (120) 151
Accounts payable and accrued expenses (6) (208) 201
Other liabilities 121 149 (20)
Net cash provided by operating activities 1,030 876 870
Cash flows from investing activities:      
Purchases of property, plant and equipment (489) (565) (492)
Proceeds from sale of power plants and other(2) [3] 179 0 1,573
Decrease in restricted cash 40 18 28
Other 27 2 4
Net cash used in investing activities (1,919) (841) (84)
Cash flows from financing activities:      
Borrowings under CCFC Term Loans and First Lien Term Loans 1,101 2,137 420
Repayments of CCFC Term Loans and First Lien Term Loans (1,231) (1,635) (45)
Borrowings under Senior Unsecured Notes 0 650 2,800
Borrowings under First Lien Notes 625 0 0
Repurchases of First Lien Notes (120) (267) (2,920)
Borrowings from project financing, notes payable and other 458 79 79
Repayments of project financing, notes payable and other (364) (232) (178)
Distribution to noncontrolling interest holder (9) (10) (15)
Financing costs (58) (34) (56)
Stock repurchases 0 (529) (1,100)
Proceeds from exercises of stock options 1 8 20
Shares repurchased for tax withholding on stock-based awards (6) (12) (15)
Other 4 (1) 0
Net cash provided by (used in) financing activities 401 154 (1,010)
Net (decrease) increase in cash and cash equivalents (488) 189 (224)
Cash and cash equivalents, beginning of period 906 717 941
Cash and cash equivalents, end of period 418 906 717
Cash paid during the period for:      
Interest, net of amounts capitalized 584 620 610
Income taxes 12 21 23
Supplemental disclosure of non-cash investing and financing activities:      
Change in capital expenditures included in accounts payable (37) 13 3
Additions to property, plant and equipment through capital leases 0 9 19
Reduction of debt due to sale of Mankato Power Plant(2) [3]   0 0
Retirement of shares held in treasury   1  
Mankato [Member]      
Cash flows from investing activities:      
Proceeds from sale of power plants and other(2) [3] 407    
Proceeds from Divestiture of Businesses, Net of Cash Divested 164    
Supplemental disclosure of non-cash investing and financing activities:      
Reduction of debt due to sale of Mankato Power Plant(2) [3] 243    
Fore River and Guadalupe Energy Centers [Member]      
Cash flows from investing activities:      
Payments to Acquire Businesses, Net of Cash Acquired (526) 0 (1,197)
Champion Energy [Member]      
Cash flows from investing activities:      
Payments to Acquire Businesses, Net of Cash Acquired [4] (1,150) (296) 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 0
Proceeds from exercises of stock options 0 0 0
Supplemental disclosure of non-cash investing and financing activities:      
Retirement of shares held in treasury $ 0 $ (2,885) $ 0
[1] Includes amortization included in Commodity revenue and Commodity expense associated with intangible assets and amortization recorded in interest expense associated with debt issuance costs and discounts
[2] In addition to changes in market value on derivatives not designated as hedges, changes in mark-to-market gain (loss) also includes hedge ineffectiveness and adjustments to reflect changes in credit default risk exposure.
[3] On October 26, 2016, we completed the sale of Mankato Power Plant for $407 million, including working capital and other adjustments. We received net proceeds of $164 million after the non-cash reduction of Steamboat project debt of $243 million as the funds were provided directly to the lender in conjunction with the sale of the power plant.
[4] On December 1, 2016, we completed the purchase of Calpine Solutions, formerly Noble Solutions, along with a swap contract for approximately $800 million plus approximately $350 million of net working capital at closing. We recovered approximately $250 million in cash subsequent to closing and prior to year end December 31, 2016.