SEC Filings

10-K
NRG ENERGY, INC. filed this Form 10-K on 02/29/2016
Entire Document
 
                

 
As of December 31, 2014
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(In millions)
Investment in available-for-sale securities (classified within other non-current assets):
 
 
 
 
 
 

Debt securities
$

 
$

 
$
18

 
$
18

Available-for-sale securities
30

 

 

 
30

Other (a)
21

 

 
11

 
32

Nuclear trust fund investments:
 
 
 
 
 
 


Cash and cash equivalents
14

 

 

 
14

U.S. government and federal agency obligations
44

 
3

 

 
47

Federal agency mortgage-backed securities

 
74

 

 
74

Commercial mortgage-backed securities

 
25

 

 
25

Corporate debt securities

 
78

 

 
78

Equity securities
292

 

 
52

 
344

Foreign government fixed income securities

 
3

 

 
3

Other trust fund investments:
 
 
 
 
 
 
 
U.S. government and federal agency obligations
1

 

 

 
1

Derivative assets:
 
 
 
 
 
 
 
Commodity contracts
1,078

 
1,515

 
309

 
2,902

Interest rate contracts

 
2

 

 
2

Equity contracts

 

 
1

 
1

Total assets
$
1,480

 
$
1,700

 
$
391

 
$
3,571

Derivative liabilities:
 
 
 
 
 
 


Commodity contracts
$
1,004

 
$
1,093

 
$
230

 
$
2,327

Interest rate contracts

 
165

 

 
165

Total liabilities
$
1,004

 
$
1,258

 
$
230

 
$
2,492

(a)
Primarily consists of mutual funds held in a rabbi trusts for non-qualified deferred compensation plans for certain former employees and a total return swap that does not meet the definition of a derivative.
There have been no transfers during the year ended December 31, 2015, between Levels 1 and 2. The following tables reconcile, for the years ended December 31, 2015, and 2014, the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs:
 
For the Year Ended December 31, 2015
 
Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
 
Debt
Securities
 
Other
 
Trust Fund
Investments
 
Derivatives (a)
 
Total
 
(In millions)
Beginning balance as of January 1, 2015
$
18

 
$
11

 
$
52

 
$
80

 
$
161

Total losses realized/unrealized:
 
 
 
 
 
 
 
 
 
Included in earnings
(1
)
 
(11
)
 

 
(100
)
 
(112
)
Included in nuclear decommissioning obligations

 

 
(2
)
 

 
(2
)
Purchases

 

 
4

 
(19
)
 
(15
)
Transfers into Level 3 (b)

 

 

 
3

 
3

Transfers out of Level 3 (b)

 

 

 
3

 
3

Ending balance as of December 31, 2015
$
17

 
$

 
$
54

 
$
(33
)
 
$
38

Losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of December 31, 2015
$

 
$

 
$

 
$
(30
)
 
$
(30
)
(a)
Consists of derivatives assets and liabilities, net.
(b)
Transfers in/out of Level 3 are related to the availability of external broker quotes, and are valued as of the end of the reporting period. All transfers in/out are with Level 2.

149