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Benefit Plans and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Schedule of Net Benefit Cost (Credit) Related to Pension and Other Postretirement Benefit Plans Components
The annual net periodic benefit cost/(credit) related to NRG's pension and other postretirement benefit plans include the following components:
 Year Ended December 31,
 Pension Benefits
 (In millions)201920182017
Service cost benefits earned$10  $23  $26  
Interest cost on benefit obligation46  44  43  
Expected return on plan assets(59) (62) (58) 
Amortization of unrecognized net loss —   
Settlement/curtailment expense—   —  
Net periodic benefit cost$—  $12  $15  

 Year Ended December 31,
 Other Postretirement Benefits
(In millions)201920182017
Service cost benefits earned$ $ $ 
Interest cost on benefit obligation   
Amortization of unrecognized prior service credit(13) (10) (9) 
Amortization of unrecognized net (gain)/loss—  —  (1) 
Curtailment gain—  (10) —  
Net periodic benefit (credit)$(9) $(15) $(5) 
Schedule of Comparison of Pension Benefit obligation, Other Postretirement Benefit Obligations and Related Plan Assets on a Combined Basis
A comparison of the pension benefit obligation, other postretirement benefit obligations and related plan assets for NRG's plans on a combined basis is as follows:
 As of December 31,
 Pension BenefitsOther Postretirement
Benefits
(In millions)2019201820192018
Benefit obligation at January 1$1,222  $1,329  $83  $128  
Service cost10  23    
Interest cost46  44    
Plan amendments—  17  (2) (28) 
Actuarial (gain)/loss207  (95) 16  (6) 
Employee and retiree contributions—  —    
Curtailment gain—  (20) —  (7) 
Benefit payments(88) (76) (12) (12) 
Benefit obligation at December 311,397  1,222  93  83  
Fair value of plan assets at January 1981  1,104  —  —  
Actual return on plan assets216  (80) —  —  
Employee and retiree contributions—  —    
Employer contributions41  33    
Benefit payments(88) (76) (11) (12) 
Fair value of plan assets at December 311,150  981  —  —  
Funded status at December 31 — excess of obligation over assets
$(247) $(241) $(93) $(83) 
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in NRG's balance sheets were as follows:
 As of December 31,
 Pension Benefits
Other Postretirement
Benefits
(In millions)2019201820192018
Other current liabilities$—  $—  $ $ 
Other non-current liabilities247  241  86  76  
Schedule of Amounts Recognized in OCI Not Yet Recognized as Components of Net Periodic Benefit Costs
Amounts recognized in NRG's accumulated OCI that have not yet been recognized as components of net periodic benefit cost were as follows:
 As of December 31,
 Pension Benefits
Other Postretirement
Benefits
(In millions)2019201820192018
Net loss/(gain)$138  $90  $ $(9) 
Prior service cost/(credit)  (43) (53) 
Total accumulated OCI$140  $93  $(36) $(62) 
Net accumulated OCI$140  $93  $(36) $(62) 
Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligations recognized in OCI were as follows:
 Year Ended December 31,
 
Pension
Benefits
Other Postretirement
Benefits
(In millions)2019201820192018
Net actuarial loss/(gain)$50  $47  $16  $(5) 
Amortization of net actuarial (gain)/loss(3) —  —  —  
Curtailment—  (27) —   
Prior service credit—  17  (2) (28) 
Amortization of prior service cost—  —  12  10  
Total recognized in OCI$47  $37  $26  $(21) 
Net periodic benefit cost/(credit)
—  12  (9) (15) 
Net recognized in net periodic pension cost/(credit) and OCI
$47  $49  $17  $(36) 
Schedule of Benefit Obligations Significant Components
The following table presents the balances of significant components of NRG's pension plan:
 As of December 31,
 Pension Benefits
(In millions)20192018
Projected benefit obligation$1,397  $1,222  
Accumulated benefit obligation1,362  1,188  
Fair value of plan assets1,150  981  
Schedule of Fair Value of Pension Plan Assets by Asset Category and Level within the Fair Value Hierarchy
NRG's market-related value of its plan assets is the fair value of the assets. The fair values of the Company's pension plan assets by asset category and their level within the fair value hierarchy are as follows:
 Fair Value Measurements as of December 31, 2019
(In millions)
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Observable Inputs
(Level 2)
Total
Common/collective trust investment — U.S. equity$—  $233  $233  
Common/collective trust investment — non-U.S. equity—  73  73  
Common/collective trust investment — non-core assets—  143  143  
Common/collective trust investment — fixed income—  272  272  
Short-term investment fund12  —  12  
Subtotal fair value$12  $721  $733  
Measured at net asset value practical expedient:
Common/collective trust investment — non-U.S. equity84  
Common/collective trust investment — fixed income279  
Common/collective trust investment — non-core assets24  
Partnerships/joint ventures30  
Total fair value$1,150  
 Fair Value Measurements as of December 31, 2018
(In millions)
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Observable Inputs
(Level 2)
Total
Common/collective trust investment — U.S. equity$—  $183  $183  
Common/collective trust investment — non-U.S. equity—  53  53  
Common/collective trust investment — non-core assets—  117  117  
Common/collective trust investment — fixed income—  256  256  
Short-term investment fund12  —  12  
Subtotal fair value$12  $609  $621  
Measured at net asset value practical expedient:
Common/collective trust investment — non-U.S. equity70  
Common/collective trust investment — fixed income249  
Common/collective trust investment — non-core assets16  
Partnerships/joint ventures25  
Total fair value$981  
Schedule of Assumptions Used to Calculate Benefit Expense
The following table presents the significant assumptions used to calculate NRG's benefit obligations:
 As of December 31,
 Pension BenefitsOther Postretirement Benefits
Weighted-Average Assumptions2019201820192018
Discount rate3.26 %4.38 %3.26 %4.37 %
Rate of compensation increase3.00 %3.00 %— %— %
Health care trend rate—  —  
 7.5% grading to 4.5% in 2028
7.8% grading to 4.5% in 2025
The following table presents the significant assumptions used to calculate NRG's benefit expense:
 As of December 31,
 Pension BenefitsOther Postretirement Benefits
Weighted-Average Assumptions201920182017201920182017
Discount rate
4.38%/4.2%
3.71%/4.04%
4.26 %
4.37%
3.71% /4.08%
4.29 %
Expected return on plan assets
6.35 %6.17 %6.85 %—  —  —  
Rate of compensation increase
3.00 %3.00 %3.00 %—  —  —  
Health care trend rate—  —  —  
 7.8% grading to 4.5% in 2025
 8.2% grading to 4.5% in 2025
7.0% grading to 5.0% in 2025
Schedule of Target Allocation of Pension Plan Assets
The target allocations of NRG's pension plan assets were as follows for the year ended December 31, 2019:
U.S. equity20 %
Non-U.S. equity13 %
Non-core assets17 %
U.S. fixed income50 %
Schedule of Performance Benchmarks Performance benchmarks are composed of the following indices:
Asset ClassIndex
U.S. equitiesDow Jones U.S. Total Stock Market Index
Non-U.S. equities
MSCI All Country World Ex-U.S. IMI Index
Non-core assets(a)
Various (per underlying asset class)
Fixed income securities
Barclays Capital Long Term Government/Credit Index & Barclays Strips 20+ Index
(a)Non-Core Assets are defined as diversifying asset classes approved by the Investment Committee that are intended to enhance returns and/or reduce volatility of the U.S. and non-U.S. equities. Asset classes considered Non-Core include, but may not be limited to: Emerging Market Equity, Emerging Market Debt, Non-US Developed Market Small Cap, High Yield Fixed Income, Real Estate, Bank Loans, Global Infrastructure and other Alternatives.
Schedule of Expected Benefit Payments
NRG's expected future benefit payments for each of the next five years, and in the aggregate for the five years thereafter, are as follows:
  Other Postretirement Benefit
 (In millions)
Pension
Benefit Payments
Benefit PaymentsMedicare Prescription Drug Reimbursements
2020$84  $ $—  
202186   —  
202286   —  
202386   —  
202486   —  
2025-2029402  19   
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. The impact of a one-percentage-point change in assumed health care cost trend rates is immaterial on total service and interest costs components but would have the following effect:
(In millions)
1-Percentage-
Point Increase
1-Percentage-
Point Decrease
Effect on postretirement benefit obligation$ $(5) 
Schedule of Benefit Costs and Other Changes Recognized in the Financial Statements Related to its Interest in STP
The Company has recognized the following in its statement of financial position, statement of operations and accumulated OCI related to its 44% interest in STP:
 As of December 31,
 Pension BenefitsOther Postretirement Benefits
(In millions)2019201820192018
Funded status — STPNOC benefit plans$(77) $(78) $(20) $(19) 
Net periodic benefit cost/(credit)  (4) (7) 
Other changes in plan assets and benefit obligations recognized in other comprehensive (loss)/income
(13) (7)   
Defined Contribution Plan Contributions
The Company's contributions to these plans were as follows:
 Year Ended December 31,
(In millions)201920182017
Company contributions to defined contribution plans$22  $28  $56