SEC Filings

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

Consolidated Results of Operations
2015 compared to 2014
The following table provides selected financial information for the Company:
 
Year Ended December 31,
 
 
(In millions except otherwise noted)
2015
 
2014(a)
 
Change %
Operating Revenues
 
 
 
 
 
Energy revenue (b)
$
5,494


$
5,422

 
1
 %
Capacity revenue (b)
2,164


2,087

 
4

Retail revenue
6,913

 
7,376

 
(6
)
Mark-to-market for economic hedging activities
(244
)
 
501

 
149

Contract amortization
(40
)
 
(13
)
 
(208
)
Other revenues (c)
387


495

 
(22
)
Total operating revenues
14,674

 
15,868

 
(8
)
Operating Costs and Expenses
 
 
 
 
 
Cost of sales (b)
7,838

 
8,623

 
(9
)
Mark-to-market for economic hedging activities
128

 
488

 
74

Contract and emissions credit amortization (d)
11

 
31

 
(65
)
Operations and maintenance
2,313

 
2,230

 
4

Other cost of operations
465


422

 
10

Total cost of operations
10,755

 
11,794

 
(9
)
Depreciation and amortization
1,566

 
1,523

 
3

Impairment losses
5,030

 
97

 
N/M

Selling, general and administrative expense
1,220


1,027

 
19

Acquisition-related transaction and integration costs
10

 
84

 
(88
)
Development costs
154

 
91

 
69

Total operating costs and expenses
18,735

 
14,616

 
28

Gain on post retirement benefits curtailment and sale of assets
21

 
19

 
11

Operating (Loss)/Income
(4,040
)
 
1,271

 
(418
)
Other Income/(Expense)
 
 
 
 
 
Equity in earnings of unconsolidated affiliates
36

 
38

 
(5
)
Impairment losses on investments
(56
)
 

 
N/A

Other income, net
33

 
22

 
50

(Loss)/gain on sale of equity-method investment
(14
)
 
18

 
(178
)
Net gain/(loss) on debt extinguishment
75

 
(95
)
 
(179
)
Interest expense
(1,128
)
 
(1,119
)
 
1

Total other expense
(1,054
)
 
(1,136
)
 
(7
)
(Loss)/Income before income taxes
(5,094
)
 
135

 
N/M

Income tax expense
1,342

 
3

 
N/M

Net (Loss)/Income
(6,436
)
 
132

 
N/M

Less: Net loss attributable to noncontrolling interests and redeemable noncontrolling interests
(54
)
 
(2
)
 
N/M

Net (loss)/income attributable to NRG Energy, Inc. 
$
(6,382
)
 
$
134

 
N/M

Business Metrics
 
 
 
 
 
Average natural gas price — Henry Hub ($/MMBtu)
$
2.66

 
$
4.41

 
(40
)%
(a)
Includes the results of EME from April 1, 2014 to December 31, 2014.
(b)
Includes realized gains and losses from financially settled transactions.
(c)
Includes unrealized trading gains and losses.
(d)
Includes amortization of SO2 and NOx credits and excludes amortization of RGGI credits.

N/A- Not Applicable
N/M- Not Meaningful

66