SEC Filings

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

Share Repurchases
The following table shows the Company's share repurchases under the 2015 Capital Allocation Program. The purchases of common stock were made using cash on hand. Under the Company's 2016 Capital Allocation Program, the Company has not allocated capital for any additional share repurchases at this time.
Board Authorized Share Repurchases
Amount Authorized
Repurchases
Total Repurchases through December 31, 2015
(in millions, except share and per share data)
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Initial Phase (authorized Q4 2014)
$
100

$
44

$
56

$

$

$

$
100

Second Phase (authorized Q1 2015)
100


23

77



100

Supplemental (authorized Q2 2015)
81



30

51


81

Reset (authorized Q3 2015)
200




116

84

200

Total
$
481

$
44

$
79

$
107

$
167

$
84

$
481

Average price per share
 
$
26.95

$
25.15

$
24.53

$
15.06

$
15.03

$
18.64

Shares repurchased
 
1,624,360

3,146,484

4,379,907

11,104,184

5,558,920

25,813,855

Quarterly dividends
 
$
47

$
49

$
48

$
48

$
46

$
238

Total capital returned to shareholders
 
$
91

$
128

$
155

$
215

$
130

$
719

Debt Reduction
The following table lists the repurchases of senior notes in 2015 in open market transactions:
 
Senior Note Repurchases
 
Principal Redeemed (in millions)
 
Cash Paid (a)  (in millions)
 
Average early redemption percentage
 
NRG Energy, Inc.
 
7.625% senior notes due 2018
 
$
92

 
$
97

 
102.23%
 
8.250% senior notes due 2020
 
5

 
5

 
96.50%
 
6.625% senior notes due 2023
 
54

 
82

 
85.97%
 
6.6250% senior notes due 2024
 
95

 
47

 
84.73%
 
GenOn Energy, Inc.
 
7.875% senior notes due 2017
 
33

 
33

 
95.17%
 
9.500% senior notes due 2018
 
25

 
23

 
90.95%
 
9.875% senior notes due 2020
 
61

 
52

 
83.85%
 
GenOn Americas Generation LLC
 
8.500% senior notes due 2021
 
84

 
73

 
84.91%
 
9.125% senior notes due 2031
 
71

 
55

 
77.02%
 
 
 
$
520

 
$
467

 
 
(a)
Includes accrued interest.
Subsequent to year-end and through February 29, 2016, the Company repurchased an additional $171 million in aggregate principal of NRG Energy, Inc. senior notes.

97