SEC Filings

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

Segment Review
Effective in December 2014, the Company's segment structure and its allocation of corporate expenses were updated to reflect how management makes financial decisions and allocates resources. The Company has recast data from prior periods to reflect this change in reportable segments to conform to the current year presentation. The Company's businesses are segregated as follows: NRG Business; NRG Home, which includes NRG Home Retail and NRG Home Solar; NRG Renew, which includes solar and wind assets, excluding those in NRG Yield; NRG Yield and corporate activities.  The Company's corporate segment includes BETM, international business and electric vehicle services. Intersegment sales are accounted for at market. NRG Yield includes certain of the Company's contracted generation assets. NRG Yield acquired certain assets from the Company, which were accounted for as transfers of entities under common control and accordingly, all historical periods have been recast to reflect these changes:
On June 30, 2014, El Segundo Energy Center, formerly in the NRG Business segment, Kansas South and High Desert, both formerly in the NRG Renew segment.
On January 2, 2015, Walnut Creek, formerly in the NRG Business segment, the Tapestry projects (Buffalo Bear, Pinnacle, and Taloga) and Laredo Ridge, both formerly in the NRG Renew segment.
On November 3, 2015, 75% of the class B interests in NRG Wind TE Holdco, which owns a portfolio of 12 wind facilities, formerly in the NRG Renew segment.

Revenues
The following table contains a summary of NRG's operating revenues by segment for the years ended December 31, 2015, 2014, and 2013, as discussed in Item 15 — Note 18, Segment Reporting, to the Consolidated Financial Statements. Refer to that footnote for additional financial information about NRG's business segments and geographic areas, including a profit measure and total assets. In addition, refer to Item 2 — Properties, for information about facilities in each of NRG's business segments.
 
Year Ended December 31, 2015
 
Energy
Revenues
 
Capacity
Revenues
 
Retail
Revenues
 
Mark-to-
Market
Activities
 
Contract Amor-tization
 
Other
Revenues(a)
 
Total
Operating
Revenues(b)
 
(In millions)
NRG Business
$
5,743

 
$
1,837

 
$
1,499

 
$
(250
)
 
$
15

 
$
298

 
$
9,142

NRG Home Retail

 

 
5,389

 

 

 

 
5,389

NRG Home Solar

 

 
32

 

 

 

 
32

NRG Renew
444

 

 

 
(3
)
 
(1
)
 
34

 
474

NRG Yield
405

 
341

 

 
(2
)
 
(54
)
 
179

 
869

Corporate and Eliminations (b)
(1,098
)
 
(14
)
 
(7
)
 
11

 

 
(124
)
 
(1,232
)
Total
$
5,494

 
$
2,164

 
$
6,913

 
$
(244
)
 
$
(40
)
 
$
387

 
$
14,674

(a)
Primarily consists of revenues generated by the Thermal business, operation and maintenance revenues and unrealized trading activities, primarily at BETM.
(b)
Energy revenues include inter-segment sales primarily between NRG Business and NRG Home.
 
Year Ended December 31, 2014
 
Energy
Revenues
 
Capacity
Revenues
 
Retail
Revenues
 
Mark-to-
Market
Activities
 
Contract Amor-tization
 
Other
Revenues(c)
 
Total
Operating
Revenues(d)
 
(In millions)
NRG Business
$
6,476

 
$
1,787

 
$
1,870

 
$
535

 
$
16

 
$
340

 
$
11,024

NRG Home Retail

 

 
5,502

 

 
1

 

 
5,503

NRG Home Solar

 

 
42

 

 

 

 
42

NRG Renew
384

 
1

 

 
4

 
(1
)
 
39

 
427

NRG Yield
270

 
321

 

 
2

 
(29
)
 
182

 
746

Corporate and Eliminations (d)
(1,708
)
 
(22
)
 
(38
)
 
(40
)
 

 
(66
)
 
(1,874
)
Total
$
5,422

 
$
2,087

 
$
7,376

 
$
501

 
$
(13
)
 
$
495

 
$
15,868

(c)
Primarily consists of revenues generated by the Thermal business, operation and maintenance revenues and unrealized trading activities, primarily at BETM.
(d)
Energy revenues include inter-segment sales primarily between NRG Business and NRG Home.

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