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Changes in Capital Structure
 9 Months Ended
Sep. 30, 2016
Changes in Capital Structure Disclosure [Abstract]  
Changes in Capital Structure
Changes in Capital Structure
As of September 30, 2016, and December 31, 2015, the Company had 500,000,000 shares of common stock authorized. The following table reflects the changes in NRG's common stock issued and outstanding:
 
Issued
 
Treasury
 
Outstanding
Balance as of December 31, 2015
416,939,950

 
(102,749,908
)
 
314,190,042

Shares issued under LTIPs
643,642

 
—

 
643,642

Shares issued under ESPP
—

 
609,094

 
609,094

Balance as of September 30, 2016
417,583,592

 
(102,140,814
)
 
315,442,778


Preferred Stock
On May 24, 2016, NRG entered an agreement with Credit Suisse Group to     repurchase 100% of the outstanding shares of its $344.5 million 2.822% preferred stock. On June 13, 2016, the Company completed the repurchase from Credit Suisse of 100% of the outstanding shares at a price of $226 million. The transaction resulted in a gain on redemption of $78 million, measured as the difference between the fair value of the cash consideration paid upon redemption of $226 million and the carrying value of the preferred stock at the time of the redemption of $304 million. This amount is reflected in net income/(loss) available to NRG common stockholders in the calculation of earnings per share.
Employee Stock Purchase Plan
As of September 30, 2016, there were 667,819 shares of treasury stock available for issuance under the ESPP.
NRG Common Stock Dividends
The following table lists the dividends paid during the nine months ended September 30, 2016:
 
Third Quarter 2016
 
Second Quarter 2016

First Quarter 2016
Dividends per Common Share
$
0.030

 
$
0.030


$
0.145


On October 19, 2016, NRG declared a quarterly dividend on the Company's common stock of $0.03 per share, payable November 15, 2016, to stockholders of record as of November 1, 2016, representing $0.12 per share on an annualized basis.
The Company's common stock dividends are subject to available capital, market conditions, and compliance with associated laws, regulations and other contractual obligations.