SEC Filings

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

Amounts recognized in NRG's balance sheets were as follows:
 
As of December 31,
 
Pension Benefits
 
Other Postretirement
Benefits
 
2015
 
2014
 
2015
 
2014
 
(In millions)
Current liabilities
$

 
$

 
$
12

 
$
10

Non-current liabilities
280

 
317

 
166

 
228

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
 
2015
 
2014
 
2015
 
2014
 
(In millions)
Net loss/(gain)
$
68

 
$
101

 
$
(9
)
 
$
34

Prior service cost/(credit)
3

 
4

 
(9
)
 
(7
)
Other changes in plan assets and benefit obligations recognized in OCI were as follows:
 
Year Ended December 31,
 
Pension
Benefits
 
Other Postretirement
Benefits
 
2015
 
2014
 
2015
 
2014
 
(In millions)
Net actuarial (gain)/loss
$
(31
)
 
$
152

 
$
(31
)
 
$
46

Amortization of net actuarial (gain)/loss
(2
)
 
6

 
(1
)
 

Prior service (credit)/cost
(1
)
 

 
(7
)
 
(18
)
Amortization of prior service cost

 

 
5

 
17

Curtailment

 

 
(11
)
 

Total recognized in other comprehensive (income)/loss
$
(34
)
 
$
158

 
$
(45
)
 
$
45

Total recognized in net periodic pension (credit)/cost and other comprehensive (income)/loss
$
(8
)
 
$
173

 
$
(37
)
 
$
40

The change in net actuarial loss/(gain) from 2014 to 2015 primarily reflects the use of an updated mortality table and the change in discount rates described below. The Company's estimated unrecognized loss and unrecognized prior service cost for NRG's pension plan that will be amortized from accumulated OCI to net periodic cost over the next fiscal year is approximately $2 million. The Company's estimated unrecognized loss and unrecognized prior service credit for NRG's postretirement plan that will be amortized from accumulated OCI to net periodic cost over the next fiscal year is $1 million and $2 million, respectively.
The following table presents the balances of significant components of NRG's pension plan:
 
As of December 31,
 
Pension Benefits
 
2015
 
2014
 
(In millions)
Projected benefit obligation
$
1,196

 
$
1,305

Accumulated benefit obligation
1,115

 
1,172

Fair value of plan assets
916

 
988


179