SEC Filings

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


The following table presents NRG's amortization of intangible assets for each of the past three years:
 
Years Ended December 31,
Amortization
2015
 
2014
 
2013
 
(In millions)
Emission allowances
$
99

 
$
124

 
$
104

Energy supply contracts
5

 
6

 
6

Fuel contracts
2

 
2

 
2

Customer contracts
2

 

 
53

Customer relationships
67

 
70

 
72

Marketing partnerships
14

 
15

 
8

Trade names
23

 
21

 
29

Power purchase agreements
50

 
24

 
1

Other
15

 
6

 
4

Total amortization
$
277

 
$
268

 
$
279

The following table presents estimated amortization of NRG's intangible assets for each of the next five years:
 
 
 
Contracts
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
Emission
Allowances
 
Energy
Supply
 
Fuel
 
Customer
 
Customer
Relationships
 
Marketing Partnerships
 
Trade
Names
 
PPA
 
Other
 
Total
 
 
2016
$
112

 
$
7

 
$
2

 
$
1

 
$
48

 
$
9

 
$
23

 
$
63

 
$
10

 
$
275

2017
53

 

 
1

 
1

 
33

 
5

 
23

 
63

 
10

 
189

2018
48

 

 

 
1

 
20

 
5

 
23

 
63

 
10

 
170

2019
32

 

 

 
1

 
16

 
4

 
23

 
63

 
9

 
148

2020
17

 

 

 
1

 
14

 
4

 
23

 
63

 
7

 
129

Intangible assets held for sale — From time to time, management may authorize the transfer from the Company's emission bank of emission allowances held-for-use to intangible assets held-for-sale. Emission allowances held-for-sale are included in other non current assets on the Company's consolidated balance sheet and are not amortized, but rather expensed as sold. As of December 31, 2015, the value of emission allowances held-for-sale is $22 million and is managed within the Corporate segment. Once transferred to held-for-sale, these emission allowances are prohibited from moving back to held-for-use.
Out-of-market contracts — Due primarily to business acquisitions, NRG acquired certain out-of-market contracts, which are classified as non-current liabilities on NRG's consolidated balance sheet. These include out-of-market lease contracts of $159 million and $790 million acquired in the acquisitions of EME and GenOn, respectively, and out-of-market gas transportation and storage contracts of $327 million acquired in the acquisition of GenOn. These out-of-market contracts are amortized to cost of operations.
The following table summarizes the estimated amortization related to NRG's out-of-market contracts:
Year Ended December 31,
Power Contracts
 
Leases
 
Gas Transportation
 
Total
 
(In millions)
2016
$
16

 
47

 
$
42

 
$
105

2017
16

 
47

 
37

 
100

2018
16

 
47

 
32

 
95

2019
17

 
47

 
29

 
93

2020
17

 
47

 
29

 
93


165