SEC Filings

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

Consolidated Results of Operations
2014 compared to 2013
The following table provides selected financial information for the Company:
 
Year Ended December 31,
 
 
(In millions except otherwise noted)
2014(a)
 
2013
 
Change %
Operating Revenues
 
 
 
 
 
Energy revenue (b)
$
5,422

 
$
3,530

 
54
 %
Capacity revenue (b)
2,087

 
1,800

 
16

Retail revenue
7,376

 
6,287

 
17

Mark-to-market for economic hedging activities
501

 
(578
)
 
187

Contract amortization
(13
)
 
(31
)
 
58

Other revenues (c)
495

 
287

 
72

Total operating revenues
15,868

 
11,295

 
40

Operating Costs and Expenses
 
 
 
 
 
Cost of sales (b)
8,623

 
6,272

 
37

Mark-to-market for economic hedging activities
488

 
(293
)
 
267

Contract and emissions credit amortization (d)
31

 
33

 
(6
)
Operations and maintenance
2,230

 
1,789

 
25

Other cost of operations
422

 
329

 
28

Total cost of operations
11,794

 
8,130

 
45

Depreciation and amortization
1,523

 
1,256

 
21

Impairment losses
97

 
459

 
(79
)
Selling, general and administrative expense
1,027

 
895

 
15

Acquisition-related transaction and integration costs
84

 
128

 
(34
)
Development costs
91

 
84

 
8

Total operating costs and expenses
14,616

 
10,952

 
33

Gain on sale of assets
19

 

 
N/A

Operating Income
1,271

 
343

 
271

Other Income/(Expense)
 
 
 
 
 
Equity in earnings of unconsolidated affiliates
38

 
7

 
443

Impairment losses on investments

 
(99
)
 
N/A

Other income, net
22

 
13

 
69

Gain on sale of equity-method investment
18

 

 
N/A

Loss on debt extinguishment
(95
)
 
(50
)
 
90

Interest expense
(1,119
)
 
(848
)
 
32

Total other expense
(1,136
)
 
(977
)
 
16

Income/(Loss) before income tax expense
135

 
(634
)
 
(121
)
Income tax expense/(benefit)
3

 
(282
)
 
(101
)
Net Income/(loss)
132

 
(352
)
 
(138
)
Less: Net (loss)/income attributable to noncontrolling interests and redeemable noncontrolling interests
(2
)
 
34

 
(106
)
Net income/(loss) attributable to NRG Energy, Inc. 
$
134

 
$
(386
)
 
(135
)
Business Metrics
 
 
 
 
 
Average natural gas price — Henry Hub ($/MMBtu)
$
4.41

 
$
3.65

 
21
 %
(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.
N/A - Not Applicable

77