v3.19.3.a.u2

Income Taxes Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The jurisdictional components of income from continuing operations before income tax expense (benefit), attributable to Calpine, for the years ended December 31, 2019, 2018 and 2017, are as follows (in millions):
| 2019 |  | 2018 |  | 2017
U.S. | $ | 836 |  |  | $ | 47 |  |  | $ | (358 | )
International | 32 |  |  | 27 |  |  | 27 |
Total | $ | 868 |  |  | $ | 74 |  |  | $ | (331 | )
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense from continuing operations for the years ended December 31, 2019, 2018 and 2017, consisted of the following (in millions):
| 2019 |  | 2018 |  | 2017
Current: |  |  |  |  |
Federal | $ | (2 | ) |  | $ | — |  |  | $ | (10 | )
State | 2 |  |  | 20 |  |  | 18 |
Foreign | 3 |  |  | (3 | ) |  | (14 | )
Total current | 3 |  |  | 17 |  |  | (6 | )
Deferred: |  |  |  |  |
Federal | 66 |  |  | (1 | ) |  | 5 |
State | 28 |  |  | (6 | ) |  | 6 |
Foreign | 1 |  |  | 54 |  |  | 3 |
Total deferred | 95 |  |  | 47 |  |  | 14 |
Total income tax expense | $ | 98 |  |  | $ | 64 |  |  | $ | 8 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory rate of 21% and, prior to 2018, 35% to our effective rate from continuing operations for the years ended December 31, 2019, 2018 and 2017, is as follows:
| 2019 |  | 2018 |  | 2017
Federal statutory tax rate | 21.0 | % |  | 21.0 | % |  | 35.0 | %
State tax expense, net of federal benefit | 2.8 |  |  | 17.0 |  |  | (6.0 | )
Change in tax rate of net deferred tax asset | — |  |  | — |  |  | (168.8 | )
Valuation allowances offsetting tax rate change | — |  |  | — |  |  | 168.8 |
Valuation allowances against future tax benefits | (11.2 | ) |  | (31.7 | ) |  | (33.0 | )
Valuation allowance related to foreign taxes | — |  |  | (138.3 | ) |  | 0.5 |
Decrease in foreign NOL due to change in ownership | — |  |  | 202.3 |  |  | — |
Distributions from foreign affiliates and foreign taxes | 0.2 |  |  | 6.6 |  |  | (2.0 | )
Change in unrecognized tax benefits | — |  |  | (8.0 | ) |  | 5.1 |
Disallowed compensation | — |  |  | 7.7 |  |  | (0.6 | )
Stock-based compensation | — |  |  | (1.5 | ) |  | (0.9 | )
Equity earnings | 0.1 |  |  | 1.4 |  |  | (0.8 | )
Merger Related Fees/Expenses | — |  |  | 12.7 |  |  | — |
Depletion in excess of basis | (0.3 | ) |  | (4.0 | ) |  | — |
Other differences | (1.3 | ) |  | 1.3 |  |  | 0.3 |
Effective income tax rate | 11.3 | % |  | 86.5 | % |  | (2.4 | )%
Schedule of Deferred Tax Assets and Liabilities | The components of deferred income taxes as of December 31, 2019 and 2018, are as follows (in millions):
| 2019 |  | 2018
Deferred tax assets: |  |  |
NOL and credit carryforwards | $ | 1,731 |  |  | $ | 1,595 |
Taxes related to risk management activities and derivatives | 18 |  |  | 7 |
Reorganization items and impairments | 73 |  |  | 166 |
Other differences | 62 |  |  | 101 |
Deferred tax assets before valuation allowance | 1,884 |  |  | 1,869 |
Valuation allowance | (873 | ) |  | (1,000 | )
Total deferred tax assets | 1,011 |  |  | 869 |
Deferred tax liabilities: |  |  |
Property, plant and equipment | (1,125 | ) |  | (890 | )
Total deferred tax liabilities | (1,125 | ) |  | (890 | )
Net deferred tax asset (liability) | (114 | ) |  | (21 | )
Less: Non-current deferred tax liability | (116 | ) |  | (22 | )
Deferred income tax asset, non-current | $ | 2 |  |  | $ | 1 |
Schedule of Income Tax Contingencies | A reconciliation of the beginning and ending amounts of our unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017, is as follows (in millions):
| 2019 |  | 2018 |  | 2017
Balance, beginning of period | $ | (28 | ) |  | $ | (38 | ) |  | $ | (59 | )
Increases related to prior year tax positions | — |  |  | (7 | ) |  | — |
Decreases related to prior year tax positions | — |  |  | 17 |  |  | 11 |
Increases related to current year tax positions | (1 | ) |  | — |  |  | (2 | )
Decreases related to change in tax rate of net deferred tax asset | — |  |  | — |  |  | 12 |
Balance, end of period | $ | (29 | ) |  | $ | (28 | ) |  | $ | (38 | )

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure for 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 and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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