SEC Filings

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

Note 17 — Earnings/(Loss) Per Share
Basic earnings/(loss) per common share is computed by dividing net income/(loss) less accumulated preferred stock dividends by the weighted average number of common shares outstanding. Shares issued and treasury shares repurchased during the year are weighted for the portion of the year that they were outstanding. Diluted earnings/(loss) per share is computed in a manner consistent with that of basic earnings/(loss) per share while giving effect to all potentially dilutive common shares that were outstanding during the period.
Dilutive effect for equity compensation and other equity instruments — The outstanding non-qualified stock options, non-vested restricted stock units, and market stock units are not considered outstanding for purposes of computing basic earnings/(loss) per share. However, these instruments are included in the denominator for purposes of computing diluted earnings/(loss) per share under the treasury stock method. The if-converted method is used to determine the dilutive effect of embedded derivatives in the Company's 2.822% Preferred Stock.
The reconciliation of NRG's basic earnings/(loss) per share to diluted earnings/(loss) per share is shown in the following table:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(In millions, except per share amounts)
Basic (loss)/earnings per share attributable to NRG common stockholders
 
 
 
 
 
Net (loss)/income attributable to NRG Energy, Inc.
$
(6,382
)
 
$
134

 
$
(386
)
Dividends for preferred shares
20

 
9

 
9

Dividends for refinancing of preferred shares

 
47

 

(Loss)/Income Available to Common Stockholders
$
(6,402
)
 
$
78

 
$
(395
)
Weighted average number of common shares outstanding
329


334


323

(Loss)/Earnings per weighted average common share — basic
$
(19.46
)
 
$
0.23

 
$
(1.22
)
Diluted (loss)/earnings per share attributable to NRG common stockholders
 
 

 
 
Weighted average number of common shares outstanding
329

 
334

 
323

Incremental shares attributable to the issuance of equity compensation (treasury stock method)

 
5

 

Total dilutive shares
329

 
339

 
323

(Loss)/Earnings per weighted average common share diluted
$
(19.46
)
 
$
0.23

 
$
(1.22
)
The following table summarizes NRG's outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company's diluted earnings/(loss) per share:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(In millions of shares)
Equity compensation
6

 
1

 
9

Embedded derivative of 2.822% redeemable perpetual preferred stock(a)
16

 
16

 
16

Total
22

 
17

 
25

(a) At December 31, 2013, the redeemable perpetual preferred stock had an interest rate of 3.625%.


187