Segment Reporting |
Segment Reporting 2012 Business Segment Realignment Effective in fiscal year 2012, NRG's segment structure and its allocation of corporate expenses were updated to reflect how management currently makes financial decisions and allocates resources. The Company has recast the data from prior periods to reflect this change in reportable segments to conform to the current year presentation. The Company's businesses are primarily segregated based on the Retail Business, conventional power generation, alternative energy businesses and corporate activities. Within NRG's conventional power generation operations, there are distinct components with separate operating results and management structures for the following geographical regions: Texas, East, South Central, West, and Other, which includes its international businesses, thermal and chilled water business and maintenance services. The Company's alternative energy businesses include solar and wind assets, electric vehicle services and carbon capture business. For the years ended December 31, 2012, 2011, and 2010, there were no customers from whom the Company derived more than 10% of the Company's consolidated revenues. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2012 | | | | Conventional Power Generation | | | | | | | | | | Retail(a) | | Texas(a) | | East(a)(b) | | South Central(b) | | West(b) | | Other(a) | | Alternative Energy(a) | | Corporate | | Elimination | | Total | | (In millions) | Operating revenues | $ | 5,772 |
| | $ | 2,074 |
| | $ | 854 |
| | $ | 807 |
| | $ | 259 |
| | $ | 320 |
| | $ | 153 |
| | $ | 17 |
| | $ | (1,834 | ) | | $ | 8,422 |
| Operating expenses | 5,065 |
| | 1,712 |
| | 754 |
| | 695 |
| | 194 |
| | 273 |
| | 86 |
| | 55 |
| | (1,819 | ) | | 7,015 |
| Depreciation and amortization | 162 |
| | 458 |
| | 137 |
| | 93 |
| | 12 |
| | 17 |
| | 59 |
| | 12 |
| | — |
| | 950 |
| Acquisition-related transaction and integration costs | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 107 |
| | — |
| | 107 |
| Operating income/(loss) | 545 |
| | (96 | ) | | (37 | ) | | 19 |
| | 53 |
| | 30 |
| | 8 |
| | (157 | ) | | (15 | ) | | 350 |
| Equity in earnings/(loss) of unconsolidated affiliates | — |
| | — |
| | 16 |
| | — |
| | 7 |
| | 13 |
| | 3 |
| | (2 | ) | | — |
| | 37 |
| Impairment charge on investment | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) | Bargain purchase gain related to GenOn acquisition | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 560 |
| | — |
| | 560 |
| Other income, net | — |
| | 2 |
| | 2 |
| | 1 |
| | 1 |
| | 4 |
| | 1 |
| | 26 |
| | (18 | ) | | 19 |
| Loss on debt extinguishment and refinancing expense |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| | (51 | ) | |
|
| | (51 | ) | Interest expense | (4 | ) | | — |
| | (20 | ) | | (18 | ) | | (2 | ) | | (11 | ) | | (46 | ) | | (578 | ) | | 18 |
| | (661 | ) | Income/(loss) before income taxes | 541 |
| | (94 | ) | | (39 | ) | | 2 |
| | 59 |
| | 36 |
| | (34 | ) | | (204 | ) | | (15 | ) | | 252 |
| Income tax expense/(benefit) | — |
| | — |
| | — |
| | — |
| | — |
| | 3 |
| | — |
| | (330 | ) | | — |
| | (327 | ) | Net income/(loss) | $ | 541 |
| | $ | (94 | ) | | $ | (39 | ) | | $ | 2 |
| | $ | 59 |
| | $ | 33 |
| | $ | (34 | ) | | $ | 126 |
| | $ | (15 | ) | | $ | 579 |
| Less: Net income attributable to noncontrolling interest | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 20 |
| | $ | — |
| | $ | — |
| | $ | 20 |
| Net income/(loss) attributable to NRG Energy, Inc. | $ | 541 |
| | $ | (94 | ) | | $ | (39 | ) | | $ | 2 |
| | $ | 59 |
| | $ | 33 |
| | $ | (54 | ) | | $ | 126 |
| | $ | (15 | ) | | $ | 559 |
| | | | | | | | | | | | | | | | | | | | | Balance sheet | | | | | | | | | | | | | | | | | | |
| Equity investments in affiliates | $ | — |
| | $ | — |
| | $ | 131 |
| | $ | 19 |
| | $ | 27 |
| | $ | 322 |
| | $ | 167 |
| | $ | 10 |
| | $ | — |
| | $ | 676 |
| Capital expenditures (c) | 22 |
| | 118 |
| | 70 |
| | 36 |
| | 244 |
| | 41 |
| | 3,153 |
| | 9 |
| | — |
| | 3,693 |
| Goodwill | 231 |
| | 1,713 |
| | — |
| | — |
| | — |
| | — |
| | 12 |
| | — |
| | — |
| | 1,956 |
| Total assets | $ | 3,122 |
| | $ | 10,988 |
| | $ | 5,249 |
| | $ | 1,969 |
| | $ | 1,825 |
| | $ | 794 |
| | $ | 6,157 |
| | $ | 29,042 |
| | $ | (24,018 | ) | | $ | 35,128 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (a) Includes intersegment sales of: | $ | 5 |
| | $ | 1,657 |
| | $ | 73 |
| | $ | — |
| | $ | — |
| | $ | 69 |
| | $ | 20 |
| | $ | 10 |
|
(b) Includes GenOn results for the period December 15, 2012 to December 31, 2012. (c) Includes accruals. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2011 | | | | Conventional Power Generation | | | | | | | | | | Retail(d)(e) | | Texas(d) | | East(d) | | South Central | | West | | Other(d) | | Alternative Energy(d) | | Corporate | | Elimination | | Total | | (In millions) | Operating revenues | $ | 5,642 |
| | $ | 2,832 |
| | $ | 924 |
| | $ | 817 |
| | $ | 149 |
| | $ | 323 |
| | $ | 44 |
| | $ | 11 |
| | $ | (1,663 | ) | | $ | 9,079 |
| Operating expenses | 5,113 |
| | 1,910 |
| | 858 |
| | 703 |
| | 92 |
| | 282 |
| | 63 |
| | 30 |
| | (1,663 | ) | | 7,388 |
| Depreciation and amortization | 159 |
| | 463 |
| | 118 |
| | 89 |
| | 10 |
| | 14 |
| | 31 |
| | 12 |
| | — |
| | 896 |
| Impairment charge on emission allowances | — |
| | 160 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 160 |
| Operating income/(loss) | 370 |
| | 299 |
| | (52 | ) | | 25 |
| | 47 |
| | 27 |
| | (50 | ) | | (31 | ) | | — |
| | 635 |
| Equity in earnings of unconsolidated affiliates | — |
| | — |
| | 11 |
| | — |
| | 9 |
| | 9 |
| | 6 |
| | — |
| | — |
| | 35 |
| Impairment charge on investment | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (495 | ) | | — |
| | (495 | ) | Other income, net | — |
| | 1 |
| | 2 |
| | 2 |
| | — |
| | 5 |
| | 3 |
| | 21 |
| | (15 | ) | | 19 |
| Loss on debt extinguishment and refinancing expense | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (175 | ) | | — |
| | (175 | ) | Interest (expense)/income | (4 | ) | | 16 |
| | (47 | ) | | (41 | ) | | (2 | ) | | (15 | ) | | (16 | ) | | (571 | ) | | 15 |
| | (665 | ) | Income/(loss) before income taxes | 366 |
| | 316 |
| | (86 | ) | | (14 | ) | | 54 |
| | 26 |
| | (57 | ) | | (1,251 | ) | | — |
| | (646 | ) | Income tax (benefit)/expense | (3 | ) | | — |
| | — |
| | — |
| | — |
| | 7 |
| | — |
| | (847 | ) | | — |
| | (843 | ) | Net income/(loss) | 369 |
| | 316 |
| | (86 | ) | | (14 | ) | | 54 |
| | 19 |
| | (57 | ) | | (404 | ) | | — |
| | 197 |
| | | | | | | | | | | | | | | | | | | | | Balance sheet | | | | | | | | | | | | | | | | | | |
| Equity investments in affiliates | $ | — |
| | $ | — |
| | $ | 136 |
| | $ | — |
| | $ | 28 |
| | $ | 308 |
| | $ | 168 |
| | $ | — |
| | $ | — |
| | $ | 640 |
| Capital expenditures (f) | 23 |
| | 99 |
| | 188 |
| | 25 |
| | 281 |
| | 40 |
| | 1,809 |
| | 137 |
| | — |
| | 2,602 |
| Goodwill | 173 |
| | 1,713 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 1,886 |
| Total assets | $ | 2,725 |
| | $ | 13,164 |
| | $ | 2,042 |
| | $ | 1,436 |
| | $ | 669 |
| | $ | 1,006 |
| | $ | 3,143 |
| | $ | 19,732 |
| | $ | (17,017 | ) | | $ | 26,900 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (d) Includes intersegment sales of: | $ | 5 |
| | $ | 1,586 |
| | $ | 43 |
| | $ | — |
| | $ | — |
| | $ | 18 |
| | $ | 16 |
| | $ | — |
|
(e) Includes Green Mountain Energy results and Energy Plus results for the period October 1, 2011 to December 31, 2011. (f) Includes accruals. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2010 | | | | Conventional Power Generation | | | | | | | | | | Retail(g)(h) | | Texas(g) | | East | | South Central | | West | | Other(g) | | Alternative Energy(g) | | Corporate | | Elimination | | Total | | | | (In millions) | Operating revenues | $ | 5,055 |
| | $ | 3,040 |
| | $ | 1,025 |
| | $ | 608 |
| | $ | 138 |
| | $ | 301 |
| | $ | 41 |
| | $ | 1 |
| | $ | (1,360 | ) | | $ | 8,849 |
| Operating expenses | 4,547 |
| | 1,749 |
| | 847 |
| | 506 |
| | 98 |
| | 260 |
| | 38 |
| | 41 |
| | (1,360 | ) | | 6,726 |
| Depreciation and amortization | 127 |
| | 466 |
| | 122 |
| | 67 |
| | 9 |
| | 12 |
| | 27 |
| | 8 |
| | — |
| | 838 |
| Gain on sale of asset | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 23 |
| | — |
| | 23 |
| Operating income/(loss) | 381 |
| | 825 |
| | 56 |
| | 35 |
| | 31 |
| | 29 |
| | (24 | ) | | (25 | ) | | — |
| | 1,308 |
| Equity in earnings/(loss) of unconsolidated affiliates | — |
| | — |
| | 1 |
| | — |
| | 6 |
| | 24 |
| | 14 |
| | (1 | ) | | — |
| | 44 |
| Other income, net | — |
| | 2 |
| | 4 |
| | 1 |
| | 1 |
| | 18 |
| | — |
| | 24 |
| | (17 | ) | | 33 |
| Loss on debt extinguishment and refinancing expense | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) | Interest (expense)/income | (5 | ) | | 79 |
| | (57 | ) | | (46 | ) | | (2 | ) | | (14 | ) | | (13 | ) | | (589 | ) | | 17 |
| | (630 | ) | Income/(loss) before income taxes | 376 |
| | 906 |
| | 4 |
| | (10 | ) | | 36 |
| | 57 |
| | (23 | ) | | (593 | ) | | — |
| | 753 |
| Income tax expense | — |
| | — |
| | — |
| | — |
| | — |
| | 17 |
| | — |
| | 260 |
| | — |
| | 277 |
| Net income/(loss) | 376 |
| | 906 |
| | 4 |
| | (10 | ) | | 36 |
| | 40 |
| | (23 | ) | | (853 | ) | | — |
| | 476 |
| Less: Net loss attributable to noncontrolling interest | — |
| | (1 | ) | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (1 | ) | Net income/(loss) attributable to NRG Energy, Inc. | 376 |
| | 907 |
| | 4 |
| | (10 | ) | | 36 |
| | 40 |
| | (23 | ) | | (853 | ) | | — |
| | 477 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (g) Includes intersegment sales of: | $ | 2 |
| | $ | 1,304 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 25 |
| | $ | 23 |
| | $ | — |
|
(h) Includes Green Mountain Energy results for the period November 5, 2010 to December 31, 2010. |