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Benefit Plans and Other Postretirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]  
Annual net periodic benefit cost related to NRG's pension and other postretirement benefit plans
The annual net periodic benefit cost/(credit) related to NRG's pension and other postretirement benefit plans include the following components:
 
Year Ended December 31,
 
Pension Benefits
 
2016
 
2015
 
2014
 
(In millions)
Service cost benefits earned
$
30

 
$
32

 
$
30

Interest cost on benefit obligation
43

 
53

 
53

Expected return on plan assets
(60
)
 
(62
)
 
(62
)
Amortization of unrecognized net loss/(gain)
2

 
2

 
(6
)
Net periodic benefit cost
$
15

 
$
25

 
$
15

 
Year Ended December 31,
 
Other Postretirement Benefits
 
2016
 
2015
 
2014
 
(In millions)
Service cost benefits earned
$
2

 
$
3

 
$
3

Interest cost on benefit obligation
6

 
9

 
9

Amortization of unrecognized prior service credit
(5
)
 
(5
)
 
(17
)
Amortization of unrecognized net loss

 
1

 

Curtailment gain

 
(14
)
 

Net periodic benefit cost/(credit)
$
3

 
$
(6
)
 
$
(5
)
Pension benefit obligation, other post retirement benefit obligations and related plan assets for NRG plans on a combined basis
A comparison of the pension benefit obligation, other postretirement benefit obligations and related plan assets for NRG's plans on a combined basis is as follows:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement
Benefits
 
2016
 
2015
 
2016
 
2015
 
(In millions)
Benefit obligation at January 1
$
1,196

 
$
1,305

 
$
178

 
$
238

Service cost
30

 
32

 
2

 
3

Interest cost
43

 
53

 
6

 
9

Plan amendments

 

 
(42
)
 
(6
)
Actuarial loss/(gain)
40

 
(120
)
 
(2
)
 
(31
)
Employee and retiree contributions

 

 
3

 
2

Benefit payments
(68
)
 
(74
)
 
(17
)
 
(12
)
Curtailment

 

 

 
(25
)
Benefit obligation at December 31
1,241

 
1,196

 
128

 
178

Fair value of plan assets at January 1
916

 
988

 

 

Actual return on plan assets
72

 
(26
)
 

 

Employee and retiree contributions

 

 
3

 
2

Employer contributions
33

 
28

 
14

 
10

Benefit payments
(68
)
 
(74
)
 
(17
)
 
(12
)
Fair value of plan assets at December 31
953

 
916

 

 

Funded status at December 31 — excess of obligation over assets
$
(288
)
 
$
(280
)
 
$
(128
)
 
$
(178
)
Amounts recognized in NRG's balance sheets
Amounts recognized in NRG's balance sheets were as follows:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement
Benefits
 
2016
 
2015
 
2016
 
2015
 
(In millions)
Current liabilities
$

 
$

 
$
8

 
$
12

Non-current liabilities
288

 
280

 
120

 
166

Amounts recognized in NRG's accumulated OCI that have not yet been recognized as components of net periodic benefit cost
Amounts recognized in NRG's accumulated OCI that have not yet been recognized as components of net periodic benefit cost were as follows:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement
Benefits
 
2016
 
2015
 
2016
 
2015
 
(In millions)
Net loss/(gain)
$
94

 
$
68

 
$
(11
)
 
$
(9
)
Prior service cost/(credit)
3

 
3

 
(45
)
 
(9
)
Other changes in plan assets and benefit obligations recognized in OCI
Other changes in plan assets and benefit obligations recognized in OCI were as follows:
 
Year Ended December 31,
 
Pension
Benefits
 
Other Postretirement
Benefits
 
2016
 
2015
 
2016
 
2015
 
(In millions)
Net actuarial loss/(gain)
$
28

 
$
(31
)
 
$
(2
)
 
$
(31
)
Amortization of net actuarial (gain)/loss
(2
)
 
(2
)
 

 
(1
)
Prior service credit

 
(1
)
 
(41
)
 
(7
)
Amortization of prior service cost

 

 
5

 
5

Curtailment

 

 

 
(11
)
Total recognized in other comprehensive loss/(income)
$
26

 
$
(34
)
 
$
(38
)
 
$
(45
)
Total recognized in net periodic pension cost/(credit) and other comprehensive loss/(income)
$
41

 
$
(8
)
 
$
36

 
$
(37
)
Balances of significant components of NRG's domestic pension plan
The following table presents the balances of significant components of NRG's pension plan:
 
As of December 31,
 
Pension Benefits
 
2016
 
2015
 
(In millions)
Projected benefit obligation
$
1,241

 
$
1,196

Accumulated benefit obligation
1,174

 
1,115

Fair value of plan assets
953

 
916

Fair values of the Company's pension plan assets by asset category and their level within the fair value hierarchy
NRG's market-related value of its plan assets is the fair value of the assets. The fair values of the Company's pension plan assets by asset category and their level within the fair value hierarchy are as follows:
 
Fair Value Measurements as of December 31, 2016
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant
Observable Inputs
(Level 2)
 
Total
 
(In millions)
Common/collective trust investment — U.S. equity
$

 
$
283

 
$
283

Common/collective trust investment — non-U.S. equity

 
149

 
149

Common/collective trust investment — global equity

 
104

 
104

Common/collective trust investment — fixed income

 
383

 
383

Partnerships/joint ventures

 
31

 
31

Short-term investment fund
3

 

 
3

Total
$
3

 
$
950

 
$
953

 
Fair Value Measurements as of December 31, 2015
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant
Observable Inputs
(Level 2)
 
Total
 
(In millions)
Common/collective trust investment — U.S. equity
$

 
$
255

 
$
255

Common/collective trust investment — non-U.S. equity

 
147

 
147

Common/collective trust investment — global equity

 
90

 
90

Common/collective trust investment — fixed income

 
400

 
400

Partnerships/joint ventures

 
18

 
18

Short-term investment fund
6

 

 
6

Total
$
6

 
$
910

 
$
916

Significant assumptions used to calculate NRG's benefit obligations and benefit expense
The following table presents the significant assumptions used to calculate NRG's benefit obligations:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement Benefits
Weighted-Average Assumptions
2016
 
2015
 
2016
 
2015
Discount rate
4.26
%
 
4.52
%
 
4.29
%
 
4.55
%
Rate of compensation increase
3.00
%
 
3.00
%
 
N/A

 
N/A

Health care trend rate

 

 
7.0% grading to 5.0% in 2025

 
7.25% grading to 5.0% in 2025


The following table presents the significant assumptions used to calculate NRG's benefit expense:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement Benefits
Weighted-Average Assumptions
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate
4.52
%
 
4.16
%
 
4.99
%
 
4.55
%
 
4.20
%
 
5.06
%
Expected return on plan assets
6.65
%
 
6.36
%
 
6.81
%
 

 

 

Rate of compensation increase
3.00
%
 
3.45
%
 
3.65
%
 

 

 

Health care trend rate

 

 

 
7.25% grading  to 5.0% in 2025

 
8.6% grading to 5.0% in 2023

 
8.5% grading to 5.5% in 2019

Target allocations of NRG's pension plan assets
The target allocations of NRG's pension plan assets were as follows for the year ended December 31, 2016:
U.S. equity
27
%
Non-U.S. equity
15
%
Global equity
10
%
Emerging market equity
3
%
U.S. fixed income
45
%
Expected future benefit payments for each of the next five years and in the aggregate for the five years thereafter
NRG's expected future benefit payments for each of the next five years, and in the aggregate for the five years thereafter, are as follows:
 
 
 
Other Postretirement Benefit
 
Pension
Benefit Payments
 
Benefit Payments
 
Medicare Prescription Drug Reimbursements
 
(In millions)
2017
$
66

 
$
8

 
$

2018
69

 
8

 

2019
72

 
8

 

2020
76

 
9

 

2021
79

 
9

 

2022-2026
417

 
38

 
1

Effect of one-percentage-point change in assumed health care cost trend rates
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effect:
 
1-Percentage-
Point Increase
 
1-Percentage-
Point Decrease
 
(In millions)
Effect on total service and interest cost components
$
1

 
$

Effect on postretirement benefit obligation
9

 
(8
)
Contributions to defined contribution plans
The Company's contributions to these plans were as follows:
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
(In millions)
Company contributions to defined contribution plans
$
55

 
$
53

 
$
47

South Texas Project Units 1 And 2 [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Amounts recognized in NRG's statement of fiancial position, statement of operations and accumulated OCI related to its interest in STP
The Company has recognized the following in its statement of financial position, statement of operations and accumulated OCI related to its 44% interest in STP:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement Benefits
 
2016
 
2015
 
2016
 
2015
 
(In millions)
Funded status — STPNOC benefit plans
$
(74
)
 
$
(63
)
 
$
(23
)
 
$
(26
)
Net periodic benefit cost/(credit)
7

 
10

 
(2
)
 
(8
)
Other changes in plan assets and benefit obligations recognized in other comprehensive income/(loss)
11

 
(8
)
 
(1
)
 
6