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Debt and Capital Leases (Tables)
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Long-term debt and capital leases
Long-term debt and capital leases consisted of the following:
(In millions, except rates)
March 31, 2018
 
December 31, 2017
 
March 31, 2018 interest rate % (a)
 
 
 
Recourse debt:
 
 
 
 
 
Senior notes, due 2022
992

 
992

 
6.250
Senior notes, due 2024
733

 
733

 
6.250
Senior notes, due 2026
1,000

 
1,000

 
7.250
Senior notes, due 2027
1,250

 
1,250

 
6.625
Senior notes, due 2028
870

 
870

 
5.750
Term loan facility, due 2023
1,867

 
1,872

 
L+1.75
Tax-exempt bonds
465

 
465

 
4.125 - 6.00
Subtotal recourse debt
7,177

 
7,182

 

Non-recourse debt:
 
 
 
 
 
NRG Yield, Inc. Convertible Senior Notes, due 2019
345

 
345

 
3.500
NRG Yield, Inc. Convertible Senior Notes, due 2020
288

 
288

 
3.250
NRG Yield Operating LLC Senior Notes, due 2024
500

 
500

 
5.375
NRG Yield Operating LLC Senior Notes, due 2026
350

 
350

 
5.000
NRG Yield LLC and NRG Yield Operating LLC Revolving Credit Facility, due 2023(b)
75

 
55

 
L+2.500
El Segundo Energy Center, due 2023
369

 
400

 
L+1.75 - L+2.375
Marsh Landing, due 2023
309

 
318

 
L+2.125
Alta Wind I - V lease financing arrangements, due 2034 and 2035
926

 
926

 
5.696 - 7.015
Walnut Creek, term loans due 2023
259

 
267

 
L+1.625
Utah Portfolio, due 2022
278

 
278

 
various
Tapestry, due 2021
158

 
162

 
L+1.625
CVSR, due 2037
731

 
746

 
2.339 - 3.775
CVSR HoldCo, due 2037
188

 
194

 
4.680
Alpine, due 2022
135

 
135

 
L+1.750
Energy Center Minneapolis, due 2025
83

 
83

 
5.95
Energy Center Minneapolis, due 2031
125

 
125

 
3.55
Viento, due 2023
163

 
163

 
L+3.00
Buckthorn Solar, due 2018 and 2025
183

 
169

 
L+1.750
NRG Yield - other
573

 
579

 
various
Subtotal NRG Yield debt (non-recourse to NRG) (c)
6,038

 
6,083

 
 
Ivanpah, due 2033 and 2038
1,068

 
1,073

 
2.285 - 4.256
Carlsbad Energy Project (c)
475

 
427

 
L+1.625 - 4.120
Agua Caliente, due 2037
815

 
818

 
2.395 - 3.633
Agua Caliente Borrower 1, due 2038
86

 
89

 
5.430
Cedro Hill, due 2025 (c)
149

 
151

 
L+1.75
Midwest Generation, due 2019
132

 
152

 
4.390
NRG Other Renewables (c)
466

 
478

 
various
NRG Other
178

 
180

 
various
Subtotal other NRG non-recourse debt
3,369

 
3,368

 
 
Subtotal all non-recourse debt
9,407

 
9,451

 
 
Subtotal long-term debt (including current maturities)
16,584


16,633

 
 
Capital leases
4

 
5

 
various
Subtotal long-term debt and capital leases (including current maturities)
16,588


16,638

 
 
Less current maturities(d)
(956
)

(688
)
 
 
Less debt issuance costs
(201
)
 
(204
)
 
 
Discounts
(25
)
 
(30
)
 
 
Total long-term debt and capital leases
$
15,406


$
15,716

 
 
(a) As of March 31, 2018, L+ equals 3 month LIBOR plus x%, except for the Buckthorn Solar and Utah Solar Portfolio where L+ equals 1 month LIBOR plus x%.
(b) Applicable rate is determined by the Borrower Leverage Ratio, as defined in the credit agreement.
(c) Debt associated with the asset sales announced in February 2018
(d) The NRG Yield, Inc. Convertible Senior Notes, due 2019, become due in February 2019 and are recorded in current maturities as of March 31, 2018.