Segment and Significant Customer Information

12 Months Ended

Dec. 31, 2013

Segment and Significant Customer Information [Abstract]

Segment and Significant Customer Information

Segment and Significant Customer Information

We assess our business on a regional basis due to the impact on our financial performance of the differing characteristics of these regions, particularly with respect to competition, regulation and other factors impacting supply and demand. At December 31, 2013, our reportable segments were West (including geothermal), Texas, North (including Canada) and Southeast. We continue to evaluate the optimal manner in which we assess our performance including our segments and future changes may result.

Commodity Margin is a key operational measure reviewed by our chief operating decision maker to assess the performance of our segments. The tables below show our financial data for our segments for the periods indicated (in millions).

	Year Ended December 31, 2013
	West			Texas			North			Southeast		Consolidation and Elimination			Total
Revenues from external customers	$	1,937		$	2,347		$	1,356		$	661	$	—		$	6,301
Intersegment revenues	5			(4		)	33			189		(223		)	—
Total operating revenues	$	1,942		$	2,343		$	1,389		$	850	$	(223	)	$	6,301
Commodity Margin	$	1,020		$	632		$	712		$	204	$	—		$	2,568
Add: Unrealized mark-to-market commodity activity, net and other(1)	(50		)	51			5			22		(31		)	(3		)
Less:
Plant operating expense	365			269			172			120		(31		)	895
Depreciation and amortization expense	243			165			130			73		(2		)	609
Sales, general and other administrative expense	37			56			21			21		1			136
Other operating expenses	45			3			29			4		—			81
(Income) from unconsolidated investments in power plants	—			—			(30		)	—		—			(30		)
Income from operations	280			190			395			8		1			874
Interest expense, net of interest income															690
Debt extinguishment costs and other (income) expense, net															164
Income before income taxes															$	20

	Year Ended December 31, 2012
	West			Texas		North			Southeast			Consolidation and Elimination			Total
Revenues from external customers	$	1,668		$	1,857	$	1,280		$	673		$	—		$	5,478
Intersegment revenues	10			61		14			80			(165		)	—
Total operating revenues	$	1,678		$	1,918	$	1,294		$	753		$	(165	)	$	5,478
Commodity Margin(2)(3)	$	994		$	570	$	729		$	245		$	—		$	2,538
Add: Unrealized mark-to-market commodity activity, net and other(1)	(93		)	87		(14		)	(33		)	(31		)	(84		)
Less:
Plant operating expense	368			247		206			131			(30		)	922
Depreciation and amortization expense	203			142		134			85			(2		)	562
Sales, general and other administrative expense	36			47		28			29			—			140
Other operating expenses	42			5		29			5			(3		)	78
(Gain) on sale of assets, net	—			—		(7		)	(215		)	—			(222		)
(Income) from unconsolidated investments in power plants	—			—		(28		)	—			—			(28		)
Income from operations	252			216		353			177			4			1,002
Interest expense, net of interest income															725
Loss on interest rate derivatives															14
Debt extinguishment costs and other (income) expense, net															45
Income before income taxes															$	218

	Year Ended December 31, 2011
	West		Texas			North			Southeast			Consolidation and Elimination			Total
Revenues from external customers	$	2,372	$	2,306		$	1,336		$	786		$	—		$	6,800
Intersegment revenues	12		23			7			135			(177		)	—
Total operating revenues	$	2,384	$	2,329		$	1,343		$	921		$	(177	)	$	6,800
Commodity Margin(2)(3)	$	1,061	$	469		$	704		$	240		$	—		$	2,474
Add: Unrealized mark-to-market commodity activity, net and other(1)	113		(102		)	(13		)	1			(32		)	(33		)
Less:
Plant operating expense	380		235			177			141			(29		)	904
Depreciation and amortization expense	192		135			138			90			(5		)	550
Sales, general and other administrative expense	43		43			24			22			(1		)	131
Other operating expenses	41		3			30			5			(2		)	77
(Income) from unconsolidated investments in power plants	—		—			(21		)	—			—			(21		)
Income (loss) from operations	518		(49		)	343			(17		)	5			800
Interest expense, net of interest income															751
Loss on interest rate derivatives															145
Debt extinguishment costs and other (income) expense, net															115
Loss before income taxes															$	(211	)

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(1) Includes $6 million, $1 million and $12 million of lease levelization and $14 million, $14 million and $8 million of amortization expense for the years ended December 31, 2013, 2012 and 2011, respectively.

(2) Our North segment includes Commodity Margin of $73 million and $70 million for the years ended December 31, 2012 and 2011, respectively, related to Riverside Energy Center, LLC, which was sold in December 2012.

(3) Our Southeast segment includes Commodity Margin of $52 million and $51 million for the years ended December 31, 2012 and 2011, respectively, related to Broad River, which was sold in December 2012.

Significant Customers

For the year ended December 31, 2013, we had two significant customers that individually accounted for more than 10% of our annual consolidated revenues, PJM Settlement, Inc. and PG&E. For the years ended December 31, 2012 and 2011, we only had one significant customer that individually accounted for more than 10% of our annual consolidated revenues, PJM Settlement, Inc. Our revenues from PJM Settlement, Inc. for the years ended December 31, 2013, 2012 and 2011 were approximately $820 million, $713 million and $742 million, respectively, and were attributed to our North segment. Our revenues from PG&E were approximately $694 million for the year ended December 31, 2013 and were attributed to our West segment. As of December 31, 2013 and 2012, our receivables from PJM Settlement, Inc. were approximately $26 million and $37 million, respectively. As of December 31, 2013, our receivables from PG&E were approximately $83 million.