XML 34 R23.htm IDEA: XBRL DOCUMENT

Variable Interest Entities and Unconsolidated Investments (Tables)

6 Months Ended

Jun. 30, 2020

Variable Interest Entities and Unconsolidated Investments [Abstract]

Schedule of Variable Interest Entities [Table Text Block]

The table details summarized financial information (excluding intercompany balances which are eliminated in consolidation) for our consolidated VIEs as of June 30, 2020 and December 31, 2019 (in millions):



	June 30, 2020		December 31, 2019
Assets:
Current assets	$	371	$	371
Property, plant and equipment, net	3,846		3,454
Restricted cash, net of current portion	16		15
Other assets	151		53
Total assets	$	4,384	$	3,893
Liabilities:
Current liabilities	$	250	$	303
Debt, net of current portion	2,083		1,635
Long-term derivative liabilities	10		8
Other long-term liabilities	60		53
Total liabilities	$	2,403	$	1,999

Schedule of equity method investments

At June 30, 2020 and December 31, 2019, our equity method investments included on our Consolidated Condensed Balance Sheets were comprised of the following (in millions):



	Ownership Interest as of June 30, 2020	June 30, 2020		December 31, 2019
Greenfield LP⁽¹⁾	50%	$	63	$	66
Calpine Receivables	100%	4		4
Total investments in unconsolidated subsidiaries		$	67	$	70

____________


(1)	Includes our share of AOCI related to interest rate hedging instruments associated with our unconsolidated subsidiary Greenfield LP’s debt.

Income (loss) from unconsolidated investments in power plants

The following table sets forth details of our (income) from unconsolidated subsidiaries for the periods indicated (in millions):



	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Greenfield LP	$	(3	)	$	(4	)	$	(4	)	$	(6	)
Whitby⁽¹⁾	—			(2		)	—			(6		)
Calpine Receivables	(1		)	1			—			1
Total	$	(4	)	$	(5	)	$	(4	)	$	(11	)

____________


(1)	On November 20, 2019, we sold our 50% interest in Whitby to a third party.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details