Supplemental Guarantor Condensed Financial Information (Tables)

9 Months Ended

Sep. 30, 2013

Supplemental Guarantor Condensed Financial Information [Abstract]

Condensed Consolidating Statements of Income (Loss)

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES

Condensed Consolidating Statements of Income (Loss)

Three Months Ended September 30, 2013

(millions of dollars)

	Parent Guarantor			Issuer			Other Guarantors			Non- guarantors			Eliminations			Consolidated
Operating revenues	$	—		$	—		$	1,893		$	27		$	(27	)	$	1,893
Fuel, purchased power costs and delivery fees	—			—			(852		)	—			—			(852		)
Net gain from commodity hedging and trading activities	—			20			38			—			—			58
Operating costs	—			—			(192		)	—			3			(189		)
Depreciation and amortization	—			—			(332		)	1			—			(331		)
Selling, general and administrative expenses	—			(14		)	(173		)	(11		)	23			(175		)
Franchise and revenue-based taxes	—			—			(18		)	—			—			(18		)
Other income	—			—			1			—			—			1
Other deductions	—			—			(8		)	—			—			(8		)
Interest income	—			62			206			—			(267		)	1
Interest expense and related charges	(4		)	(541		)	(619		)	(4		)	828			(340		)
Income (loss) before income taxes	(4		)	(473		)	(56		)	13			560			40
Income tax (expense) benefit	1			165			46			(5		)	(190		)	17
Equity earnings of subsidiaries	60			368			1			—			(429		)	—
Net income (loss)	57			60			(9		)	8			(59		)	57
Other comprehensive income	1			1			—			—			(1		)	1
Comprehensive income (loss)	$	58		$	61		$	(9	)	$	8		$	(60	)	$	58

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES

Condensed Consolidating Statements of Income (Loss)

Three Months Ended September 30, 2012

(millions of dollars)

	Parent Guarantor			Issuer			Other Guarantors			Non- guarantors			Eliminations			Consolidated
Operating revenues	$	—		$	—		$	1,752		$	3		$	(3	)	$	1,752
Fuel, purchased power costs and delivery fees	—			—			(850		)	—			—			(850		)
Net gain (loss) from commodity hedging and trading activities	—			(98		)	95			—			—			(3		)
Operating costs	—			—			(201		)	—			—			(201		)
Depreciation and amortization	—			—			(328		)	—			—			(328		)
Selling, general and administrative expenses	—			(4		)	(172		)	(1		)	3			(174		)
Franchise and revenue-based taxes	—			—			(19		)	—			—			(19		)
Other income	—			—			2			—			—			2
Other deductions	—			—			(30		)	—			—			(30		)
Interest income	—			91			232			—			(313		)	10
Interest expense and related charges	(24		)	(982		)	(606		)	(2		)	842			(772		)
Loss before income taxes	(24		)	(993		)	(125		)	—			529			(613		)
Income tax benefit	8			347			54			—			(181		)	228
Equity earnings (losses) of subsidiaries	(369		)	277			—			—			92			—
Net loss	(385		)	(369		)	(71		)	—			440			(385		)
Other comprehensive income	1			1			—			—			(1		)	1
Comprehensive loss	$	(384	)	$	(368	)	$	(71	)	$	—		$	439		$	(384	)

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES

Condensed Consolidating Statements of Income (Loss)

Nine Months Ended September 30, 2013

(millions of dollars)

	Parent Guarantor			Issuer			Other Guarantors			Non- guarantors			Eliminations			Consolidated
Operating revenues	$	—		$	—		$	4,572		$	59		$	(59	)	$	4,572
Fuel, purchased power costs and delivery fees	—			—			(2,175		)	—			—			(2,175		)
Net gain (loss) from commodity hedging and trading activities	—			(3		)	32			—			—			29
Operating costs	—			—			(690		)	—			5			(685		)
Depreciation and amortization	—			—			(1,011		)	(1		)	—			(1,012		)
Selling, general and administrative expenses	—			(49		)	(481		)	(25		)	53			(502		)
Franchise and revenue-based taxes	—			—			(51		)	—			—			(51		)
Other income	—			—			7			—			—			7
Other deductions	—			—			(12		)	—			—			(12		)
Interest income	1			182			591			—			(769		)	5
Interest expense and related charges	(15		)	(1,920		)	(1,842		)	(8		)	2,447			(1,338		)
Income (loss) before income taxes	(14		)	(1,790		)	(1,060		)	25			1,677			(1,162		)
Income tax (expense) benefit	7			630			420			(9		)	(572		)	476
Equity earnings (losses) of subsidiaries	(679		)	481			1			—			197			—
Net income (loss)	(686		)	(679		)	(639		)	16			1,302			(686		)
Other comprehensive income	5			5			—			—			(5		)	5
Comprehensive income (loss)	$	(681	)	$	(674	)	$	(639	)	$	16		$	1,297		$	(681	)

Condensed Consolidating Statements of Cash Flows

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES

Condensed Consolidating Statements of Cash Flows

Nine Months Ended September 30, 2013

(millions of dollars)

	Parent/ Guarantor			Issuer			Other Guarantors			Non- guarantors			Eliminations			Consolidated
Cash provided by (used in) operating activities	$	(8	)	$	(1,764	)	$	1,736		$	(85	)	$	—		$	(121	)
Cash flows – financing activities:
Notes/advances due to affiliates	11			1,913			—			—			(1,920		)	4
Repayments/repurchases of long-term debt	(3		)	(64		)	(27		)	—			—			(94		)
Net short-term borrowings under accounts receivable securitization program	—			—			—			90			—			90
Contributions from noncontrolling interests	—			—			—			3			—			3
Other, net	—			—			—			(10		)	—			(10		)
Cash provided by (used in) financing activities	8			1,849			(27		)	83			(1,920		)	(7		)
Cash flows – investing activities:
Capital expenditures	—			—			(349		)	(4		)	—			(353		)
Nuclear fuel purchases	—			—			(59		)	—			—			(59		)
Notes due from affiliates	—			—			(1,222		)	—			1,920			698
Purchase of right to use certain computer-related assets from parent	—			—			(6		)	—			—			(6		)
Proceeds from sales of assets	—			—			3			—			—			3
Acquisition of combustion turbine trust interest	—			—			(40		)	—			—			(40		)
Purchases of environmental allowances and credits	—			—			(13		)	—			—			(13		)
Proceeds from sales of nuclear decommissioning trust fund securities	—			—			128			—			—			128
Investments in nuclear decommissioning trust fund securities	—			—			(140		)	—			—			(140		)
Other, net	—			—			(3		)	—			—			(3		)
Cash provided by (used in) investing activities	—			—			(1,701		)	(4		)	1,920			215
Net change in cash and cash equivalents	—			85			8			(6		)	—			87
Cash and cash equivalents – beginning balance	—			1,115			15			45			—			1,175
Cash and cash equivalents – ending balance	$	—		$	1,200		$	23		$	39		$	—		$	1,262

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES

Condensed Consolidating Statements of Cash Flows

Nine Months Ended September 30, 2012

(millions of dollars)

	Parent/ Guarantor			Issuer			Other Guarantors			Non- guarantors			Eliminations			Consolidated
Cash provided by (used in) operating activities	$	(7	)	$	(471	)	$	885		$	(78	)	$	—		$	329
Cash flows – financing activities:
Notes due to affiliates	11			1,029			—			—			(1,040		)	—
Repayments/repurchases of long-term debt	(4		)	—			(26		)	—			—			(30		)
Net short-term borrowings under accounts receivable securitization program	—			—			—			80			—			80
Decrease in other short-term borrowings	—			(385		)	—			—			—			(385		)
Decrease in income tax-related note payable to Oncor	—			—			(20		)	—			—			(20		)
Settlement of reimbursement agreements with Oncor	—			—			(159		)	—			—			(159		)
Contributions from noncontrolling interests	—			—			—			6			—			6
Sale/leaseback of equipment	—			—			15			—			—			15
Cash provided by (used in) financing activities	7			644			(190		)	86			(1,040		)	(493		)
Cash flows – investing activities:
Capital expenditures	—			—			(491		)	(7		)	—			(498		)
Nuclear fuel purchases	—			—			(155		)	—			—			(155		)
Notes/loans due from affiliates	—			—			(118		)	—			1,040			922
Proceeds from sales of assets	—			—			1			—			—			1
Changes in restricted cash	—			—			112			—			—			112
Purchases of environmental allowances and credits	—			—			(19		)	—			—			(19		)
Proceeds from sales of nuclear decommissioning trust fund securities	—			—			56			—			—			56
Investments in nuclear decommissioning trust fund securities	—			—			(68		)	—			—			(68		)
Other, net	—			—			2			—			—			2
Cash provided by (used in) investing activities	—			—			(680		)	(7		)	1,040			353
Net change in cash and cash equivalents	—			173			15			1			—			189
Cash and cash equivalents – beginning balance	—			87			23			10			—			120
Cash and cash equivalents – ending balance	$	—		$	260		$	38		$	11		$	—		$	309

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES Condensed Consolidating Balance Sheets September 30, 2013 (millions of dollars)
	Parent Guarantor			Issuer		Other Guarantors		Non-guarantors		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1,200	$	23	$	39	$	—		$	1,262
Advances to affiliates	—			—		74		—		(74		)	—
Trade accounts receivable – net	—			1		315		574		(94		)	796
Income taxes receivable	7			—		84		—		(84		)	7
Accounts receivable from affiliates	—			13		—		5		(18		)	—
Inventories	—			—		400		—		—			400
Commodity and other derivative contractual assets	—			726		247		—		—			973
Accumulated deferred income taxes	3			—		—		3		(6		)	—
Margin deposits related to commodity positions	—			—		21		—		—			21
Other current assets	—			2		32		—		—			34
Total current assets	10			1,942		1,196		621		(276		)	3,493
Restricted cash	—			947		—		—		—			947
Investments	(10,467		)	23,885		867		9		(13,507		)	787
Property, plant and equipment – net	—			—		17,760		201		—			17,961
Advances to affiliates	—			—		9,972		—		(9,972		)	—
Goodwill	—			4,952		—		—		—			4,952
Identifiable intangible assets – net	—			—		1,736		5		(5		)	1,736
Commodity and other derivative contractual assets	—			147		12		—		—			159
Accumulated deferred income taxes	—			490		—		3		(493		)	—
Other noncurrent assets, principally unamortized amendment/issuance costs	—			834		849		7		(831		)	859
Total assets	$	(10,457	)	$	33,197	$	32,392	$	846	$	(25,084	)	$	30,894
LIABILITIES AND MEMBERSHIP INTERESTS
Current liabilities:
Short-term borrowings	$	—		$	2,054	$	2,054	$	172	$	(2,054	)	$	2,226
Notes/advances from affiliates	1			10,045		—		—		(10,046		)	—
Long-term debt due currently	11			—		10		11		—			32
Trade accounts payable	—			5		348		95		(94		)	354
Trade accounts and other payables to affiliates	—			—		223		—		(18		)	205
Notes payable to parent	92			—		—		—		—			92
Commodity and other derivative contractual liabilities	—			413		181		—		—			594

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES Condensed Consolidating Balance Sheets September 30, 2013 (millions of dollars)
	Parent Guarantor			Issuer			Other Guarantors			Non-guarantors		Eliminations			Consolidated
Margin deposits related to commodity positions	$	—		$	335		$	18		$	—	$	—		$	353
Accumulated deferred income taxes	—			3			39			—		(6		)	36
Accrued income taxes payable to parent	—			70			—			14		(84		)	—
Accrued taxes other than income	—			—			95			—		—			95
Accrued interest	3			528			401			1		(401		)	532
Other current liabilities	—			—			219			—		—			219
Total current liabilities	107			13,453			3,588			293		(12,703		)	4,738
Accumulated deferred income taxes	84			—			2,782			—		481			3,347
Commodity and other derivative contractual liabilities	—			779			3			—		—			782
Notes or other liabilities due affiliates	—			—			2			—		—			2
Long-term debt held by affiliates	—			382			—			—		—			382
Long-term debt, less amounts due currently	92			29,604			28,704			22		(28,652		)	29,770
Affiliate tax sharing liability	—			(571		)	1,294			—		—			723
Other noncurrent liabilities and deferred credits	8			17			1,774			—		(6		)	1,793
Total liabilities	291			43,664			38,147			315		(40,880		)	41,537
EFCH membership interests	(10,748		)	(10,467		)	(5,755		)	426		15,796			(10,748		)
Noncontrolling interests in subsidiaries	—			—			—			105		—			105
Total membership interests	(10,748		)	(10,467		)	(5,755		)	531		15,796			(10,643		)
Total liabilities and membership interests	$	(10,457	)	$	33,197		$	32,392		$	846	$	(25,084	)	$	30,894

Condensed Consolidating Balance Sheet

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES Condensed Consolidating Balance Sheets September 30, 2013 (millions of dollars)
	Parent Guarantor			Issuer		Other Guarantors		Non-guarantors		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1,200	$	23	$	39	$	—		$	1,262
Advances to affiliates	—			—		74		—		(74		)	—
Trade accounts receivable – net	—			1		315		574		(94		)	796
Income taxes receivable	7			—		84		—		(84		)	7
Accounts receivable from affiliates	—			13		—		5		(18		)	—
Inventories	—			—		400		—		—			400
Commodity and other derivative contractual assets	—			726		247		—		—			973
Accumulated deferred income taxes	3			—		—		3		(6		)	—
Margin deposits related to commodity positions	—			—		21		—		—			21
Other current assets	—			2		32		—		—			34
Total current assets	10			1,942		1,196		621		(276		)	3,493
Restricted cash	—			947		—		—		—			947
Investments	(10,467		)	23,885		867		9		(13,507		)	787
Property, plant and equipment – net	—			—		17,760		201		—			17,961
Advances to affiliates	—			—		9,972		—		(9,972		)	—
Goodwill	—			4,952		—		—		—			4,952
Identifiable intangible assets – net	—			—		1,736		5		(5		)	1,736
Commodity and other derivative contractual assets	—			147		12		—		—			159
Accumulated deferred income taxes	—			490		—		3		(493		)	—
Other noncurrent assets, principally unamortized amendment/issuance costs	—			834		849		7		(831		)	859
Total assets	$	(10,457	)	$	33,197	$	32,392	$	846	$	(25,084	)	$	30,894
LIABILITIES AND MEMBERSHIP INTERESTS
Current liabilities:
Short-term borrowings	$	—		$	2,054	$	2,054	$	172	$	(2,054	)	$	2,226
Notes/advances from affiliates	1			10,045		—		—		(10,046		)	—
Long-term debt due currently	11			—		10		11		—			32
Trade accounts payable	—			5		348		95		(94		)	354
Trade accounts and other payables to affiliates	—			—		223		—		(18		)	205
Notes payable to parent	92			—		—		—		—			92
Commodity and other derivative contractual liabilities	—			413		181		—		—			594

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES Condensed Consolidating Balance Sheets September 30, 2013 (millions of dollars)
	Parent Guarantor			Issuer			Other Guarantors			Non-guarantors		Eliminations			Consolidated
Margin deposits related to commodity positions	$	—		$	335		$	18		$	—	$	—		$	353
Accumulated deferred income taxes	—			3			39			—		(6		)	36
Accrued income taxes payable to parent	—			70			—			14		(84		)	—
Accrued taxes other than income	—			—			95			—		—			95
Accrued interest	3			528			401			1		(401		)	532
Other current liabilities	—			—			219			—		—			219
Total current liabilities	107			13,453			3,588			293		(12,703		)	4,738
Accumulated deferred income taxes	84			—			2,782			—		481			3,347
Commodity and other derivative contractual liabilities	—			779			3			—		—			782
Notes or other liabilities due affiliates	—			—			2			—		—			2
Long-term debt held by affiliates	—			382			—			—		—			382
Long-term debt, less amounts due currently	92			29,604			28,704			22		(28,652		)	29,770
Affiliate tax sharing liability	—			(571		)	1,294			—		—			723
Other noncurrent liabilities and deferred credits	8			17			1,774			—		(6		)	1,793
Total liabilities	291			43,664			38,147			315		(40,880		)	41,537
EFCH membership interests	(10,748		)	(10,467		)	(5,755		)	426		15,796			(10,748		)
Noncontrolling interests in subsidiaries	—			—			—			105		—			105
Total membership interests	(10,748		)	(10,467		)	(5,755		)	531		15,796			(10,643		)
Total liabilities and membership interests	$	(10,457	)	$	33,197		$	32,392		$	846	$	(25,084	)	$	30,894

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES Condensed Consolidating Balance Sheets December 31, 2012 (millions of dollars)
	Parent Guarantor			Issuer		Other Guarantors		Non-guarantors		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1,115	$	15	$	45	$	—		$	1,175
Advances to affiliates	—			—		36		—		(36		)	—
Trade accounts receivable – net	—			2		360		445		(97		)	710
Notes receivable from parent	—			698		—		—		—			698
Income taxes receivable	—			—		410		—		(410		)	—
Accounts receivable from affiliates	—			95		—		—		(95		)	—
Inventories	—			—		393		—		—			393
Commodity and other derivative contractual assets	—			1,127		336		—		—			1,463
Accumulated deferred income taxes	3			—		—		3		(6		)	—
Margin deposits related to commodity positions	—			—		71		—		—			71
Other current assets	—			—		112		8		—			120
Total current assets	3			3,037		1,733		501		(644		)	4,630
Restricted cash	—			947		—		—		—			947
Investments	(9,794		)	23,382		747		9		(13,634		)	710
Property, plant and equipment – net	—			—		18,422		134		—			18,556
Advances to affiliates	—			—		8,794		—		(8,794		)	—
Goodwill	—			4,952		—		—		—			4,952
Identifiable intangible assets – net	—			—		1,781		—		—			1,781
Commodity and other derivative contractual assets	—			575		11		—		—			586
Accumulated deferred income taxes	—			828		—		3		(831		)	—
Other noncurrent assets, principally unamortized amendment/issuance costs	4			781		806		3		(783		)	811
Total assets	$	(9,787	)	$	34,502	$	32,294	$	650	$	(24,686	)	$	32,973
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings	$	—		$	2,054	$	2,054	$	82	$	(2,054	)	$	2,136
Notes/advances from affiliates	—			8,830		—		—		(8,830		)	—
Long-term debt due currently	11			64		21		—		—			96
Trade accounts payable	—			2		387		97		(97		)	389
Trade accounts and other payables to affiliates	—			—		231		3		(95		)	139
Notes payable to parent/affiliate	80			—		1		—		—			81
Commodity and other derivative contractual liabilities	—			610		284		—		—			894

ENERGY FUTURE COMPETITIVE HOLDINGS COMPANY LLC AND SUBSIDIARIES Condensed Consolidating Balance Sheets December 31, 2012 (millions of dollars)
	Parent Guarantor			Issuer			Other Guarantors			Non-guarantors		Eliminations			Consolidated
Margin deposits related to commodity positions	$	—		$	596		$	4		$	—	$	—		$	600
Accumulated deferred income taxes	—			3			52			—		(6		)	49
Accrued income taxes payable to parent	2			433			—			6		(410		)	31
Accrued taxes other than income	—			—			17			—		—			17
Accrued interest	18			389			281			—		(281		)	407
Other current liabilities	1			4			253			—		(3		)	255
Total current liabilities	112			12,985			3,585			188		(11,776		)	5,094
Accumulated deferred income taxes	79			—			3,569			—		111			3,759
Commodity and other derivative contractual liabilities	—			1,539			17			—		—			1,556
Notes or other liabilities due affiliates	—			—			5			—		—			5
Long-term debt held by affiliates	—			382			—			—		—			382
Long-term debt, less amounts due currently	515			29,355			28,486			—		(28,428		)	29,928
Other noncurrent liabilities and deferred credits	13			36			2,594			—		—			2,643
Total liabilities	719			44,297			38,256			188		(40,093		)	43,367
EFCH shareholder's equity	(10,506		)	(9,795		)	(5,962		)	350		15,407			(10,506		)
Noncontrolling interests in subsidiaries	—			—			—			112		—			112
Total equity	(10,506		)	(9,795		)	(5,962		)	462		15,407			(10,394		)
Total liabilities and equity	$	(9,787	)	$	34,502		$	32,294		$	650	$	(24,686	)	$	32,973