Segment Reporting |
Segment Reporting Effective June 2013, the Company'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 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, NRG Yield, and corporate activities. Within NRG's conventional power generation, 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 international businesses and maintenance services. The Company's alternative energy segment includes solar and wind assets (excluding those in the NRG Yield segment), electric vehicle services and the carbon capture business. NRG Yield includes certain of the Company's contracted generation assets including three natural gas or dual-fired facilities, eight utility-scale solar and wind generation facilities, two portfolios of distributed solar facilities and thermal infrastructure assets. Intersegment sales are accounted for at market. For the years ended December 31, 2013, 2012, and 2011, there were no customers from whom the Company derived more than 10% of the Company's consolidated revenues. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2013 | | | | Conventional Power Generation | | | | | | | | | | | | Retail | | Texas | | East | | South Central | | West | | Other | | Alternative Energy | | NRG Yield | | Corporate | | Eliminations | | Total | | (In millions) | Operating revenues(a) | $ | 6,241 |
| | $ | 2,106 |
| | $ | 3,209 |
| | $ | 874 |
| | $ | 475 |
| | $ | 153 |
| | $ | 233 |
| | $ | 313 |
| | $ | 7 |
| | $ | (2,316 | ) | | $ | 11,295 |
| Operating expenses | 5,535 |
| | 1,826 |
| | 2,512 |
| | 750 |
| | 318 |
| | 144 |
| | 147 |
| | 134 |
| | 50 |
| | (2,307 | ) | | 9,109 |
| Depreciation and amortization | 142 |
| | 457 |
| | 320 |
| | 98 |
| | 55 |
| | 4 |
| | 108 |
| | 51 |
| | 21 |
| | — |
| | 1,256 |
| Impairment charges | — |
| | — |
| | 459 |
| | — |
| | — |
| | — |
| | — |
| | — |
| |
|
| | — |
| | 459 |
| Acquisition-related transaction and integration costs | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 128 |
| | — |
| | 128 |
| Operating income/(loss) | 564 |
| | (177 | ) | | (82 | ) | | 26 |
| | 102 |
| | 5 |
| | (22 | ) | | 128 |
| | (192 | ) | | (9 | ) | | 343 |
| Equity in earnings/(loss) of unconsolidated affiliates | — |
| | — |
| | — |
| | 4 |
| | (11 | ) | | 6 |
| | (4 | ) | | 22 |
| | — |
| | (10 | ) | | 7 |
| Impairment losses on investments | — |
| | — |
| | — |
| | — |
| | — |
| | (99 | ) | | — |
| | — |
| | — |
| | — |
| | (99 | ) | Other income, net | — |
| | 1 |
| | 28 |
| | 1 |
| | 1 |
| | 3 |
| | 2 |
| | 2 |
| | 74 |
| | (99 | ) | | 13 |
| Loss on debt extinguishment | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (50 | ) | | — |
| | (50 | ) | Interest expense | (2 | ) | | (1 | ) | | (85 | ) | | (18 | ) | | (14 | ) | | — |
| | (57 | ) | | (35 | ) | | (735 | ) | | 99 |
| | (848 | ) | Income/(loss) before income taxes | 562 |
| | (177 | ) | | (139 | ) | | 13 |
| | 78 |
| | (85 | ) | | (81 | ) | | 117 |
| | (903 | ) | | (19 | ) | | (634 | ) | Income tax (benefit)/expense | — |
| | — |
| | — |
| | — |
| | — |
| | (29 | ) | | — |
| | 8 |
| | (261 | ) | | — |
| | (282 | ) | Net income/(loss) | $ | 562 |
| | $ | (177 | ) | | $ | (139 | ) | | $ | 13 |
| | $ | 78 |
| | $ | (56 | ) | | $ | (81 | ) | | $ | 109 |
| | $ | (642 | ) | | $ | (19 | ) | | $ | (352 | ) | Less: Net income attributable to noncontrolling interest | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 27 |
| | $ | 13 |
| | $ | — |
| | $ | (6 | ) | | $ | 34 |
| Net income/(loss) attributable to NRG Energy, Inc. | $ | 562 |
| | $ | (177 | ) | | $ | (139 | ) | | $ | 13 |
| | $ | 78 |
| | $ | (56 | ) | | $ | (108 | ) | | $ | 96 |
| | $ | (642 | ) | | $ | (13 | ) | | $ | (386 | ) | | | | | | | | | | | | | | | | | | | | | | | Balance sheet | | | | | | | | | | | | | | | | | | | | |
| Equity investments in affiliates | — |
| | — |
| | 5 |
| | 17 |
| | (35 | ) | | 188 |
| | 150 |
| | 227 |
| | — |
| | (99 | ) | | 453 |
| Capital expenditures(a) | 30 |
| | 119 |
| | 181 |
| | 88 |
| | 136 |
| | 15 |
| | 818 |
| | 116 |
| | 73 |
| |
|
| | 1,576 |
| Goodwill | 260 |
| | 1,713 |
| | — |
| | — |
| | — |
| | — |
| | 12 |
| | — |
| | — |
| | — |
| | 1,985 |
| Total assets | 4,717 |
| | 11,656 |
| | 8,437 |
| | 2,431 |
| | 1,638 |
| | 468 |
| | 6,213 |
| | 2,313 |
| | 25,290 |
| | (29,261 | ) | | 33,902 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (b) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 9 |
| | $ | 2,058 |
| | $ | 87 |
| | $ | 16 |
| | $ | 4 |
| | $ | 64 |
| | $ | 23 |
| | $ | — |
| | $ | 7 |
|
(a) Includes accruals.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2012 | | | | Conventional Power Generation | | | | | | | | | | | | Retail | | Texas | | East(d) | | South(d)Central | | West(d) | | Other | | Alternative Energy | | NRG Yield | | Corporate(d) | | Eliminations | | Total | | (In millions) | Operating revenues(c) | $ | 5,772 |
| | $ | 2,074 |
| | $ | 854 |
| | $ | 807 |
| | $ | 259 |
| | $ | 173 |
| | $ | 125 |
| | $ | 175 |
| | $ | 17 |
| | $ | (1,834 | ) | | $ | 8,422 |
| Operating expenses | 5,065 |
| | 1,712 |
| | 754 |
| | 695 |
| | 194 |
| | 161 |
| | 87 |
| | 119 |
| | 47 |
| | (1,819 | ) | | 7,015 |
| Depreciation and amortization | 162 |
| | 458 |
| | 137 |
| | 93 |
| | 12 |
| | 2 |
| | 49 |
| | 25 |
| | 12 |
| | — |
| | 950 |
| Acquisition-related transaction and integration costs | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 107 |
| | — |
| | 107 |
| Operating income/(loss) | 545 |
| | (96 | ) | | (37 | ) | | 19 |
| | 53 |
| | 10 |
| | (11 | ) | | 31 |
| | (149 | ) | | (15 | ) | | 350 |
| Equity in earnings/(loss) of unconsolidated affiliates | — |
| | — |
| | — |
| | — |
| | 7 |
| | 13 |
| | — |
| | 19 |
| | (2 | ) | | — |
| | 37 |
| Impairment losses on investments | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) | Bargain purchase gain related to GenOn acquisition | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 296 |
| | — |
| | 296 |
| Other income, net | — |
| | 2 |
| | 2 |
| | 1 |
| | 1 |
| | 4 |
| | — |
| | 1 |
| | 26 |
| | (18 | ) | | 19 |
| Loss on debt extinguishment | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (51 | ) | | — |
| | (51 | ) | Interest expense | (4 | ) | | — |
| | (20 | ) | | (18 | ) | | (2 | ) | | (3 | ) | | (26 | ) | | (28 | ) | | (578 | ) | | 18 |
| | (661 | ) | Income/(loss) before income taxes | 541 |
| | (94 | ) | | (55 | ) | | 2 |
| | 59 |
| | 24 |
| | (37 | ) | | 23 |
| | (460 | ) | | (15 | ) | | (12 | ) | Income tax expense/(benefit) | — |
| | — |
| | — |
| | — |
| | — |
| | 3 |
| | — |
| | 10 |
| | (340 | ) | | — |
| | (327 | ) | Net income/(loss) | 541 |
| | (94 | ) | | (55 | ) | | 2 |
| | 59 |
| | 21 |
| | (37 | ) | | 13 |
| | (120 | ) | | (15 | ) | | 315 |
| Less: Net income attributable to noncontrolling interest | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 20 |
| |
|
| | — |
| | — |
| | 20 |
| Net income/(loss) attributable to NRG Energy, Inc. | $ | 541 |
| | $ | (94 | ) | | $ | (55 | ) | | $ | 2 |
| | $ | 59 |
| | $ | 21 |
| | $ | (57 | ) | | $ | 13 |
| | $ | (120 | ) | | $ | (15 | ) | | $ | 295 |
| | | | | | | | | | | | | | | | | | | | | | | Balance sheet | | | | | | | | | | | | | | | | | | | | | | Equity investments in affiliates | $ | — |
| | $ | — |
| | $ | 7 |
| | $ | 19 |
| | $ | 27 |
| | $ | 322 |
| | $ | 163 |
| | $ | 220 |
| | $ | 10 |
| | $ | (92 | ) | | $ | 676 |
| Capital expenditures (e) | 19 |
| | 117 |
| | 71 |
| | 36 |
| | 244 |
| | 16 |
| | 2,700 |
| | 478 |
| | 12 |
| | — |
| | 3,693 |
| Goodwill | 231 |
| | 1,713 |
| | — |
| | — |
| | — |
| | — |
| | 12 |
| | — |
| | — |
| | — |
| | 1,956 |
| Total assets | $ | 3,122 |
| | $ | 10,988 |
| | $ | 6,972 |
| | $ | 1,935 |
| | $ | 1,313 |
| | $ | 442 |
| | $ | 5,367 |
| | $ | 1,964 |
| | $ | 28,330 |
| | $ | (25,450 | ) | | $ | 34,983 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (c) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 5 |
| | $ | 1,657 |
| | $ | 73 |
| | $ | — |
| | $ | — |
| | $ | 69 |
| | $ | 20 |
| | $ | — |
| | $ | 10 |
|
(d) Includes GenOn results for the period December 15, 2012 to December 31, 2012. (e) Includes accruals. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2011 | | | | Conventional Power Generation | | | | | | | | | | | | Retail(f)(g) | | Texas(f) | | East(f) | | South(f) Central | | West(f) | | Other(f) | | Alternative Energy(f) | | NRG Yield(f) | | Corporate(f) | | Eliminations | | Total | | | | (In millions) | Operating revenues | $ | 5,642 |
| | $ | 2,832 |
| | $ | 924 |
| | $ | 817 |
| | $ | 149 |
| | $ | 183 |
| | $ | 22 |
| | $ | 164 |
| | $ | 11 |
| | $ | (1,665 | ) | | $ | 9,079 |
| Operating expenses | 5,113 |
| | 1,910 |
| | 859 |
| | 703 |
| | 92 |
| | 178 |
| | 62 |
| | 114 |
| | 30 |
| | (1,673 | ) | | 7,388 |
| Depreciation and amortization | 159 |
| | 463 |
| | 118 |
| | 89 |
| | 10 |
| | — |
| | 23 |
| | 22 |
| | 12 |
| | — |
| | 896 |
| Impairment losses | — |
| | 160 |
| | — |
| | — |
| | — |
| | — |
| | — |
| |
|
| | — |
| | — |
| | 160 |
| Operating income/(loss) | 370 |
| | 299 |
| | (53 | ) | | 25 |
| | 47 |
| | 5 |
| | (63 | ) | | 28 |
| | (31 | ) | | 8 |
| | 635 |
| Equity in earnings of unconsolidated affiliates | — |
| | — |
| | — |
| | — |
| | 9 |
| | 9 |
| | 4 |
| | 13 |
| | — |
| | — |
| | 35 |
| Impairment losses on investments | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (495 | ) | | — |
| | (495 | ) | Other income, net | — |
| | 1 |
| | 2 |
| | 2 |
| | — |
| | 5 |
| | 3 |
| | 2 |
| | 21 |
| | (17 | ) | | 19 |
| Loss on debt extinguishment | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (175 | ) | | — |
| | (175 | ) | Interest (expense)/income | (4 | ) | | 16 |
| | (47 | ) | | (41 | ) | | (2 | ) | | (6 | ) | | (7 | ) | | (19 | ) | | (571 | ) | | 16 |
| | (665 | ) | Income/(loss) before income taxes | 366 |
| | 316 |
| | (98 | ) | | (14 | ) | | 54 |
| | 13 |
| | (63 | ) | | 24 |
| | (1,251 | ) | | 7 |
| | (646 | ) | Income tax (benefit)/expense | (3 | ) | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 9 |
| | (847 | ) | | (2 | ) | | (843 | ) | Net income/(loss) | 369 |
| | 316 |
| | (98 | ) | | (14 | ) | | 54 |
| | 13 |
| | (63 | ) | | 15 |
| | (404 | ) | | 9 |
| | 197 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (f) Operating revenues include inter-segment sales and net derivative gains and losses of: | $ | 5 |
| | $ | 1,586 |
| | $ | 43 |
| | $ | — |
| | $ | — |
| | $ | 25 |
| | $ | 23 |
| | $ | — |
| | $ | — |
|
(g) Includes Green Mountain Energy results and Energy Plus results for the period October 1, 2011 to December 31, 2011. |