Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2019

Condensed Consolidating Financial Information Disclosure [Abstract]

Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes and the Senior Secured First Lien Notes as of June 30, 2019:



Ace Energy, Inc.	NRG Business Services LLC	NRG PacGen Inc.
Allied Home Warranty GP LLC	NRG Cabrillo Power Operations Inc.	NRG Portable Power LLC
Allied Warranty LLC	NRG California Peaker Operations LLC	NRG Power Marketing LLC
Arthur Kill Power LLC	NRG Cedar Bayou Development Company, LLC	NRG Reliability Solutions LLC
Astoria Gas Turbine Power LLC	NRG Connected Home LLC	NRG Renter's Protection LLC
BidURenergy, Inc.	NRG Connecticut Affiliate Services Inc.	NRG Retail LLC
Cabrillo Power I LLC	NRG Construction LLC	NRG Retail Northeast LLC
Cabrillo Power II LLC	NRG Curtailment Solutions, Inc	NRG Rockford Acquisition LLC
Carbon Management Solutions LLC	NRG Development Company Inc.	NRG Saguaro Operations Inc.
Cirro Group, Inc.	NRG Devon Operations Inc.	NRG Security LLC
Cirro Energy Services, Inc.	NRG Dispatch Services LLC	NRG Services Corporation
Connecticut Jet Power LLC	NRG Distributed Energy Resources Holdings LLC	NRG SimplySmart Solutions LLC
Devon Power LLC	NRG Distributed Generation PR LLC	NRG South Central Affiliate Services Inc.
Dunkirk Power LLC	NRG Dunkirk Operations Inc.	NRG South Central Operations Inc.
Eastern Sierra Energy Company LLC	NRG ECOKAP Holdings LLC	NRG South Texas LP
El Segundo Power, LLC	NRG El Segundo Operations Inc.	NRG Texas C&I Supply LLC
El Segundo Power II LLC	NRG Energy Labor Services LLC	NRG Texas Gregory LLC
Energy Alternatives Wholesale, LLC	NRG Energy Services Group LLC	NRG Texas Holding Inc.
Energy Choice Solutions LLC	NRG Energy Services International Inc.	NRG Texas LLC
Energy Plus Holdings LLC	NRG Energy Services LLC	NRG Texas Power LLC
Energy Plus Natural Gas LLC	NRG Generation Holdings, Inc.	NRG Warranty Services LLC
Energy Protection Insurance Company	NRG Greenco LLC	NRG West Coast LLC
Everything Energy LLC	NRG Home & Business Solutions LLC	NRG Western Affiliate Services Inc.
Forward Home Security, LLC	NRG Home Services LLC	O'Brien Cogeneration, Inc. II
GCP Funding Company, LLC	NRG Home Solutions LLC	ONSITE Energy, Inc.
Green Mountain Energy Company	NRG Home Solutions Product LLC	Oswego Harbor Power LLC
Gregory Partners, LLC	NRG Homer City Services LLC	Reliant Energy Northeast LLC
Gregory Power Partners LLC	NRG Huntley Operations Inc.	Reliant Energy Power Supply, LLC
Huntley Power LLC	NRG HQ DG LLC	Reliant Energy Retail Holdings, LLC
Independence Energy Alliance LLC	NRG Identity Protect LLC	Reliant Energy Retail Services, LLC
Independence Energy Group LLC	NRG Ilion Limited Partnership	RERH Holdings, LLC
Independence Energy Natural Gas LLC	NRG Ilion LP LLC	Saguaro Power LLC
Indian River Operations Inc.	NRG International LLC	Somerset Operations Inc.
Indian River Power LLC	NRG Maintenance Services LLC	Somerset Power LLC
Meriden Gas Turbines LLC	NRG Mextrans Inc.	Texas Genco GP, LLC
Middletown Power LLC	NRG MidAtlantic Affiliate Services Inc.	Texas Genco Holdings, Inc.
Montville Power LLC	NRG Middletown Operations Inc.	Texas Genco LP, LLC
NEO Corporation	NRG Montville Operations Inc.	Texas Genco Services, LP
New Genco GP, LLC	NRG North Central Operations Inc.	US Retailers LLC
Norwalk Power LLC	NRG Northeast Affiliate Services Inc.	Vienna Operations Inc.
NRG Advisory Services LLC	NRG Norwalk Harbor Operations Inc.	Vienna Power LLC
NRG Affiliate Services Inc.	NRG Operating Services, Inc.	WCP (Generation) Holdings LLC
NRG Arthur Kill Operations Inc.	NRG Oswego Harbor Power Operations Inc.	West Coast Power LLC
NRG Astoria Gas Turbine Operations Inc.

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the three months ended June 30, 2019

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Operating Revenues
Total operating revenues	$	2,140		$	332		$	—		$	(7	)	$	2,465
Operating Costs and Expenses
Cost of operations	1,590			252			10			(7		)	1,845
Depreciation and amortization	51			26			8			—			85
Impairment losses	1			—			—			—			1
Selling, general and administrative	112			12			87			—			211
Reorganization costs	—			—			2			—			2
Development costs	—			1			1			—			2
Total operating costs and expenses	1,754			291			108			(7		)	2,146
Gain on sale of assets	—			1			—			—			1
Operating Income/(Loss)	386			42			(108		)	—			320
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries	2			—			430			(432		)	—
Other income, net	4			8			8			—			20
Loss on debt extinguishment, net	—			—			(47		)	—			(47		)
Interest expense	(3		)	(5		)	(97		)	—			(105		)
Total other income/(expense)	3			3			294			(432		)	(132		)
Income from Continuing Operations Before Income Taxes	389			45			186			(432		)	188
Income tax expense/(benefit)	—			1			(2		)	—			(1		)
Income from Continuing Operations	389			44			188			(432		)	189
Income from discontinued operations, net of income tax	—			—			13			—			13
Net Income	389			44			201			(432		)	202
Less: Net income attributable to noncontrolling interest and redeemable interests	—			1			—			—			1
Net Income Attributable to NRG Energy, Inc.	$	389		$	43		$	201		$	(432	)	$	201

(a)

All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the six months ended June 30, 2019

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Operating Revenues
Total operating revenues	$	3,909		$	727		$	—		$	(6	)	$	4,630
Operating Costs and Expenses
Cost of operations	2,948			535			19			(6		)	3,496
Depreciation and amortization	105			49			16			—			170
Impairment losses	1			—			—			—			1
Selling, general and administrative	234			28			143			—			405
Reorganization costs	—			—			15			—			15
Development costs	—			1			3			—			4
Total operating costs and expenses	3,288			613			196			(6		)	4,091
Gain on sale of assets	1			1			—			—			2
Operating Income/(Loss)	622			115			(196		)	—			541
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries	12			—			729			(741		)	—
Equity in losses of unconsolidated affiliates	—			(21		)	—			—			(21		)
Other income, net	8			9			15			—			32
Loss on debt extinguishment, net	—			—			(47		)	—			(47		)
Interest expense	(7		)	(9		)	(203		)	—			(219		)
Total other income/(expense)	13			(21		)	494			(741		)	(255		)
Income from Continuing Operations Before Income Taxes	635			94			298			(741		)	286
Income tax expense	—			1			2			—			3
Income from Continuing Operations	635			93			296			(741		)	283
Income from discontinued operations, net of income tax	9			5			387			—			401
Net Income	644			98			683			(741		)	684
Less: Net income attributable to noncontrolling interest and redeemable interests	—			1			—			—			1
Net Income Attributable to NRG Energy, Inc.	$	644		$	97		$	683		$	(741	)	$	683

(a)

All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the three months ended June 30, 2018

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Operating Revenues
Total operating revenues	$	2,172		$	291		$	—		$	(2	)	$	2,461
Operating Costs and Expenses
Cost of operations	1,702			195			(5		)	(3		)	1,889
Depreciation and amortization	63			40			9			—			112
Impairment losses	—			74			—			—			74
Selling, general and administrative	108			16			76			—			200
Reorganization costs	1			—			22			—			23
Development costs	—			1			3			(1		)	3
Total operating costs and expenses	1,874			326			105			(4		)	2,301
Gain on sale of assets	—			14			—			—			14
Operating Income/(Loss)	298			(21		)	(105		)	2			174
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries	7			—			353			(360		)	—
Equity in earnings of unconsolidated affiliates	—			5			—			—			5
Other income/(loss), net	3			(29		)	3			—			(23		)
Loss on debt extinguishment, net	—			—			(1		)	—			(1		)
Interest expense	(4		)	(13		)	(106		)	—			(123		)
Total other income/(expense)	6			(37		)	249			(360		)	(142		)
Income/(Loss) from Continuing Operations Before Income Taxes	304			(58		)	144			(358		)	32
Income tax expense/(benefit)	108			(71		)	(32		)	—			5
Income from Continuing Operations	196			13			176			(358		)	27
Income/(loss) from discontinued operations, net of income tax	15			80			(26		)	—			69
Net Income	211			93			150			(358		)	96
Less: Net (loss)/income attributable to noncontrolling interest and redeemable noncontrolling interest	—			(56		)	78			2			24
Net Income Attributable to NRG Energy, Inc.	$	211		$	149		$	72		$	(360	)	$	72

(a)

All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the six months ended June 30, 2018

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Operating Revenues
Total operating revenues	$	3,916		$	620		$	—		$	(10	)	$	4,526
Operating Costs and Expenses
Cost of operations	2,857			419			9			(11		)	3,274
Depreciation and amortization	123			92			17			—			232
Impairment losses	—			74			—			—			74
Selling, general and administrative	212			27			137			—			376
Reorganization costs	3			—			40			—			43
Development costs	—			2			7			(1		)	8
Total operating costs and expenses	3,195			614			210			(12		)	4,007
Gain on sale of assets	3			13			—			—			16
Operating Income/(Loss)	724			19			(210		)	2			535
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries	8			—			685			(693		)	—
Equity in earnings/(losses) of unconsolidated affiliates	—			7			(1		)	—			6
Other income/(loss), net	8			(36		)	5			—			(23		)
Loss on debt extinguishment, net	—			—			(3		)	—			(3		)
Interest expense	(7		)	(34		)	(198		)	—			(239		)
Total other income/(expense)	9			(63		)	488			(693		)	(259		)
Income/(Loss) from Continuing Operations Before Income Taxes	733			(44		)	278			(691		)	276
Income tax expense/(benefit)	221			(16		)	(194		)	—			11
Income/(Loss) from Continuing Operations	512			(28		)	472			(691		)	265
Income/(loss) from discontinued operations, net of income tax	30			60			(26		)	—			64
Net Income	542			32			446			(691		)	329
Less: Net (loss)/income attributable to noncontrolling interest and redeemable noncontrolling interest	—			(119		)	95			2			(22		)
Net Income Attributable to NRG Energy, Inc.	$	542		$	151		$	351		$	(693	)	$	351

(a)

All significant intercompany transactions have been eliminated in consolidation

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the three months ended June 30, 2019

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Net Income	$	389		$	44		$	201		$	(432	)	$	202
Other Comprehensive Loss
Foreign currency translation adjustments, net	(1		)	(1		)	(1		)	2			(1		)
Available-for-sale securities, net	—			—			1			—			1
Defined benefit plans, net	—			—			(3		)	—			(3		)
Other comprehensive loss	(1		)	(1		)	(3		)	2			(3		)
Comprehensive Income	388			43			198			(430		)	199
Less: Comprehensive income attributable to noncontrolling redeemable interest	—			1			—			—			1
Comprehensive Income Attributable to NRG Energy, Inc.	$	388		$	42		$	198		$	(430	)	$	198

(a)

All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the six months ended June 30, 2019

(Unaudited)



	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Net Income	$	644	$	98	$	683		$	(741	)	$	684
Other Comprehensive Loss
Available-for-sale securities, net	—		—		1			—			1
Defined benefit plans, net	—		—		(6		)	—			(6		)
Other comprehensive loss	—		—		(5		)	—			(5		)
Comprehensive Income	644		98		678			(741		)	679
Less: Comprehensive income attributable to noncontrolling redeemable interest	—		1		—			—			1
Comprehensive Income Attributable to NRG Energy, Inc.	$	644	$	97	$	678		$	(741	)	$	678

(a)

All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the three months ended June 30, 2018

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Net Income	$	211		$	93		$	150		$	(358	)	$	96
Other Comprehensive (Loss)/Income
Unrealized gain on derivatives, net	—			4			6			(5		)	5
Foreign currency translation adjustments, net	(4		)	(4		)	(5		)	9			(4		)
Available-for-sale securities, net	—			—			1			—			1
Defined benefit plans, net	—			—			(1		)	—			(1		)
Other comprehensive (loss)/income	(4		)	—			1			4			1
Comprehensive Income	207			93			151			(354		)	97
Less: Comprehensive (loss)/income attributable to noncontrolling interest and redeemable interests	—			(56		)	80			2			26
Comprehensive Income Attributable to NRG Energy, Inc.	$	207		$	149		$	71		$	(356	)	$	71

(a)

All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the six months ended June 30, 2018

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Net Income	$	542		$	32		$	446		$	(691	)	$	329
Other Comprehensive (Loss)/Income
Unrealized gain on derivatives, net	—			20			21			(22		)	19
Foreign currency translation adjustments, net	(6		)	(6		)	(8		)	14			(6		)
Available-for-sale securities, net	—			—			1			—			1
Defined benefit plans, net	—			—			(2		)	—			(2		)
Other comprehensive (loss)/income	(6		)	14			12			(8		)	12
Comprehensive Income	536			46			458			(699		)	341
Less: Comprehensive (loss)/income attributable to noncontrolling interest and redeemable interests	—			(119		)	105			2			(12		)
Comprehensive Income Attributable to NRG Energy, Inc.	$	536		$	165		$	353		$	(701	)	$	353

(a)

All significant intercompany transactions have been eliminated in consolidation

CONDENSED CONSOLIDATING BALANCE SHEETS

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

June 30, 2019

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
ASSETS	(In millions)
Current Assets
Cash and cash equivalents	$	—		$	27	$	267		$	—		$	294
Funds deposited by counterparties	31			—		—			—			31
Restricted cash	8			2		1			—			11
Accounts receivable, net	1,383			133		277			(744		)	1,049
Inventory	254			116		—			—			370
Derivative instruments	867			54		—			(71		)	850
Cash collateral paid in support of energy risk management activities	148			15		—			—			163
Prepayments and other current assets	190			11		76			—			277
Total current assets	2,881			358		621			(815		)	3,045
Property, plant and equipment, net	1,494			965		151			—			2,610
Other Assets
Investment in subsidiaries	436			—		4,191			(4,627		)	—
Equity investments in affiliates	—			383		—			—			383
Operating lease right-of-use assets, net	91			279		129			—			499
Goodwill	359			214		—			—			573
Intangible assets, net	402			159		—			—			561
Nuclear decommissioning trust fund	748			—		—			—			748
Derivative instruments	420			22		—			(16		)	426
Deferred income tax	—			56		(1		)	—			55
Other non-current assets	148			30		96			(3		)	271
Total other assets	2,604			1,143		4,415			(4,646		)	3,516
Total Assets	$	6,979		$	2,466	$	5,187		$	(5,461	)	$	9,171
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt and capital leases	$	—		$	87	$	—		$	—		$	87
Current portion of operating lease liabilities	22			31		21			—			74
Accounts payable	937			107		423			(744		)	723
Derivative instruments	817			32		—			(71		)	778
Cash collateral received in support of energy risk management activities	31			—		—			—			31
Accrued expenses and other current liabilities	258			42		301			—			601
Total current liabilities	2,065			299		745			(815		)	2,294
Other Liabilities
Long-term debt and capital leases	245			89		5,463			(3		)	5,794
Non-current operating lease liabilities	73			313		127			—			513
Nuclear decommissioning reserve	290			—		—			—			290
Nuclear decommissioning trust liability	448			—		—			—			448
Derivative instruments	388			2		—			(16		)	374
Deferred income taxes	(10		)	68		13			—			71
Other non-current liabilities	399			148		469			—			1,016
Total other liabilities	1,833			620		6,072			(19		)	8,506
Total Liabilities	3,898			919		6,817			(834		)	10,800
Redeemable noncontrolling interest in subsidiaries	—			19		—			—			19
Stockholders’ Equity	3,081			1,528		(1,630		)	(4,627		)	(1,648		)
Total Liabilities and Stockholders’ Equity	$	6,979		$	2,466	$	5,187		$	(5,461	)	$	9,171

(a)

All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

December 31, 2018



	Guarantor Subsidiaries		Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
ASSETS	(In millions)
Current Assets
Cash and cash equivalents	$	55	$	28		$	480		$	—		$	563
Funds deposited by counterparties	33		—			—			—			33
Restricted cash	7		10			—			—			17
Accounts receivable, net	1,354		115			309			(754		)	1,024
Inventory	278		134			—			—			412
Derivative instruments	779		50			16			(81		)	764
Cash collateral paid in support of energy risk management activities	275		12			—			—			287
Prepayments and other current assets	180		32			90			—			302
Current assets - held-for-sale	—		1			—			—			1
Current assets - discontinued operations	177		20			—			—			197
Total current assets	3,138		402			895			(835		)	3,600
Property, plant and equipment, net	1,938		957			153			—			3,048
Other Assets
Investment in subsidiaries	446		—			4,707			(5,153		)	—
Equity investments in affiliates	—		412			—			—			412
Goodwill	359		214			—			—			573
Intangible assets, net	422		169			—			—			591
Nuclear decommissioning trust fund	663		—			—			—			663
Derivative instruments	296		4			22			(5		)	317
Deferred income taxes	6		(143		)	183			—			46
Other non-current assets	133		71			97			(12		)	289
Non-current assets - held for sale	—		77			—			—			77
Non-current assets - discontinued operations	405		607			—			—			1,012
Total other assets	2,730		1,411			5,009			(5,170		)	3,980
Total Assets	$	7,806	$	2,770		$	6,057		$	(6,005	)	$	10,628
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt and capital leases	$	—	$	55		$	17		$	—		$	72
Accounts payable	1,368		(185		)	434			(754		)	863
Derivative instruments	713		41			—			(81		)	673
Cash collateral received in support of energy risk management activities	33		—			—			—			33
Accrued expenses and other current liabilities	291		36			353			—			680
Current liabilities - held-for-sale	—		5			—			—			5
Current liabilities - discontinued operations	24		48			—			—			72
Total current liabilities	2,429		—			804			(835		)	2,398
Other Liabilities
Long-term debt and capital leases	244		192			6,025			(12		)	6,449
Nuclear decommissioning reserve	282		—			—			—			282
Nuclear decommissioning trust liability	371		—			—			—			371
Derivative instruments	306		3			—			(5		)	304
Deferred income taxes	112		61			(108		)	—			65
Other non-current liabilities	402		320			552			—			1,274
Non-current liabilities - held-for-sale	—		65			—			—			65
Non-current liabilities - discontinued operations	58		577			—			—			635
Total other liabilities	1,775		1,218			6,469			(17		)	9,445
Total Liabilities	4,204		1,218			7,273			(852		)	11,843
Redeemable noncontrolling interest in subsidiaries	—		19			—			—			19
Stockholders’ Equity	3,602		1,533			(1,216		)	(5,153		)	(1,234		)
Total Liabilities and Stockholders’ Equity	$	7,806	$	2,770		$	6,057		$	(6,005	)	$	10,628

(a)

All significant intercompany transactions have been eliminated in consolidation

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the six months ended June 30, 2019

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Cash Flows from Operating Activities
Net income	$	644		$	98		$	683		$	(741	)	$	684
Income from discontinued operations	9			5			387			—			401
Income from continuing operations	635			93			296			(741		)	283
Adjustments to reconcile net income to net cash provided/(used) by operating activities:
Distributions and equity in (earnings)/losses of unconsolidated affiliates and consolidated subsidiaries	(12		)	22			(729		)	741			22
Depreciation, amortization and accretion	115			53			16			—			184
Provision for bad debts	42			4			6			—			52
Amortization of nuclear fuel	27			—			—			—			27
Amortization of financing costs and debt discount/premiums	—			—			13			—			13
Loss on debt extinguishment, net	—			—			47			—			47
Amortization of intangibles	13			1			—			—			14
Amortization of unearned equity compensation	—			—			10			—			10
(Loss)/gain on sale and disposal of assets	(3		)	1			3			—			1
Impairment losses	1			—			—			—			1
Changes in derivative instruments	(28		)	(32		)	38			—			(22		)
Changes in deferred income taxes and liability for uncertain tax benefits	—			(3		)	(2		)	—			(5		)
Changes in collateral deposits in support of energy risk management activities	128			(3		)	—			—			125
Changes in nuclear decommissioning trust liability	17			—			—			—			17
Changes in other working capital	(343		)	(64		)	19			—			(388		)
Cash provided/(used) by continuing operations	592			72			(283		)	—			381
Cash provided/(used) by discontinued operations	17			(9		)	—			—			8
Net Cash Provided/(Used) by Operating Activities	609			63			(283		)	—			389
Cash Flows from Investing Activities
Intercompany dividends	—			—			738			(738		)	—
Payments for acquisitions of businesses	(21		)	—			—			—			(21		)
Capital expenditures	(77		)	(15		)	(15		)	—			(107		)
Net purchases of emission allowances	(1		)	—			—			—			(1		)
Investments in nuclear decommissioning trust fund securities	(209		)	—			—			—			(209		)
Proceeds from the sale of nuclear decommissioning trust fund securities	191			—			—			—			191
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	1			400			888						1,289
Net distributions from investments in unconsolidated affiliates	—			7			—			—			7
Contributions to discontinued operations	—			(44		)	—			—			(44		)
Cash (used)/provided by continuing operations	(116		)	348			1,611			(738		)	1,105
Cash used by discontinued operations	—			(2		)	—			—			(2		)
Net Cash (Used)/Provided by Investing Activities	(116		)	346			1,611			(738		)	1,103
Cash Flows from Financing Activities
Payments from/(for) intercompany loans	206			(375		)	169			—			—
Intercompany dividends	(738		)	—			—			738			—
Payment of dividends to common stockholders	—			—			(16		)	—			(16		)
Payments for treasury stock	—			—			(1,039		)	—			(1,039		)
Payments for debt extinguishment	—			—			(24		)	—			(24		)
Distributions to noncontrolling interests from subsidiaries	—			(1		)	—			—			(1		)
Proceeds from issuance of common stock	—			—			2			—			2
Proceeds from issuance of long-term debt	—			—			1,833			—			1,833
Payment of debt issuance costs	—			—			(33		)	—			(33		)
Payments for long-term debt	—			(53		)	(2,432		)	—			(2,485		)
Cash used by continuing operations	(532		)	(429		)	(1,540		)	738			(1,763		)
Cash provided by discontinued operations	—			43			—			—			43
Net Cash Used by Financing Activities	(532		)	(386		)	(1,540		)	738			(1,720		)
Change in cash from discontinued operations	17			32			—			—			49
Net Decrease in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	(56		)	(9		)	(212		)	—			(277		)
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	95			38			480			—			613
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$	39		$	29		$	268		$	—		$	336

(a)

All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the six months ended June 30, 2018

(Unaudited)



	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			NRG Energy, Inc. (Note Issuer)			Eliminations^(a)			Consolidated
	(In millions)
Cash Flows from Operating Activities
Net income	$	542		$	32		$	446		$	(691	)	$	329
Income/(loss) from discontinued operations	30			60			(26		)	—			64
Income/(loss) from continuing operations	512			(28		)	472			(691		)	265
Adjustments to reconcile net income to net cash provided/(used) by operating activities:
Distributions and equity in (earnings)/losses of unconsolidated affiliates and consolidated subsidiaries	(8		)	11			(682		)	691			12
Depreciation, amortization and accretion	136			99			17			—			252
Provision for bad debts	30			—			—			—			30
Amortization of nuclear fuel	24			—			—			—			24
Amortization of financing costs and debt discount/premiums	—			1			12			—			13
Loss on debt extinguishment, net	—			—			3			—			3
Amortization of intangibles and out-of-market contracts	16			4			—			—			20
Amortization of unearned equity compensation	—			—			15			—			15
Loss on sale and disposal of assets	(3		)	(13		)	—			—			(16		)
Impairment losses	—			88			—			—			88
Changes in derivative instruments	(154		)	19			(10		)	—			(145		)
Changes in deferred income taxes and liability for uncertain tax benefits	221			(47		)	(176		)	—			(2		)
Changes in collateral deposits in support of energy risk management activities	(5		)	(4		)	—			—			(9		)
Changes in nuclear decommissioning trust liability	41			—			—			—			41
Loss on deconsolidation of Ivanpah project	—			22			—			—			22
Changes in other working capital	152			(56		)	(445		)	—			(349		)
Cash provided/(used) by continuing operations	962			96			(794		)	—			264
Cash provided by discontinued operations	50			199			—			—			249
Net Cash Provided/(Used) by Operating Activities	1,012			295			(794		)	—			513
Cash Flows from Investing Activities
Intercompany dividends	—			—			157			(157		)	—
Payments for acquisitions of businesses	(2		)	(209		)	—			—			(211		)
Capital expenditures	(103		)	(149		)	(30		)	—			(282		)
Net proceeds from sale of emission allowances	3			—			—			—			3
Investments in nuclear decommissioning trust fund securities	(346		)	—			—			—			(346		)
Proceeds from the sale of nuclear decommissioning trust fund securities	303			—			—			—			303
Proceeds from sale of assets, net of cash disposed of	11			—			135			—			146
Deconsolidation of Ivanpah project	—			(160		)	—			—			(160		)
Net contributions for investments in unconsolidated affiliates	—			(15		)	—			—			(15		)
Contributions to discontinued operations	—			(16		)	—			—			(16		)
Cash (used)/provided by continuing operations	(134		)	(549		)	262			(157		)	(578		)
Cash provided/(used) by discontinued operations	2			(586		)	—			—			(584		)
Net Cash (Used)/Provided by Investing Activities	(132		)	(1,135		)	262			(157		)	(1,162		)
Cash Flows from Financing Activities
Payments (for)/from intercompany loans	(611		)	204			407			—			—
Intercompany dividends	(157		)	—			—			157			—
Payment of dividends to common stockholders	—			—			(19		)	—			(19		)
Payments for treasury stock	—			—			(500		)	—			(500		)
Distributions to noncontrolling interests from subsidiaries	—			(14		)	—			—			(14		)
Proceeds from issuance of common stock	—			—			11			—			11
Proceeds from issuance of short and long-term debt	—			163			831			—			994
Payment of debt issuance costs	—			—			(19		)	—			(19		)
Payments for short and long-term debt	—			(63		)	(285		)	—			(348		)
Cash (used)/provided by continuing operations	(768		)	290			426			157			105
Cash provided by discontinued operations	—			345			—			—			345
Net Cash (Used)/Provided by Financing Activities	(768		)	635			426			157			450
Change in cash from discontinued operations	52			(42		)	—			—			10
Net Increase/(Decrease) in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	60			(163		)	(106		)	—			(209		)
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	41			425			620			—			1,086
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$	101		$	262		$	514		$	—		$	877

(a)

All significant intercompany transactions have been eliminated in consolidation