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SEC Filing Details

10-K
NRG ENERGY, INC. filed this Form 10-K on 03/01/2018
Entire Document
 

Note 18 — Segment Reporting
The Company's segment structure reflects how management currently makes financial decisions and allocates resources. The Company's businesses are segregated as follows: Generation, which includes generation, international and BETM; Retail, which includes Mass customers and Business Solutions, which includes C&I customers and other distributed and reliability products; Renewables, which includes solar and wind assets, excluding those in NRG Yield; NRG Yield; and corporate activities. Intersegment sales are accounted for at market.
NRG Yield includes certain of the Company's contracted generation assets. During 2017, NRG Yield acquired several projects totaling 555 MW for cash consideration of approximately $245 million from NRG. These acquisitions were treated as a transfer of entities under common control and accordingly, the financial information for years ended December 31, 2017, 2016, and 2015 have been recast to reflect these changes.
On June 14, 2017, as described in Note 3, Discontinued Operations, Acquisitions and Dispositions, NRG deconsolidated GenOn for financial reporting purposes. The financial information for years ended December 31, 2017, 2016, and 2015 have been recast to present GenOn as discontinued operations within the corporate segment.
NRG’s chief operating decision maker, its chief executive officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, free cash flow and capital for allocation, as well as net income/(loss) and net income/(loss) attributable to NRG Energy, Inc.
During the years ended December 31, 2017, 2016 and 2015, the Company had no customer which comprised more than 10% of the Company's consolidated revenues.
 
For the Year Ended December 31, 2017
 
Generation(a)

Retail (a)

Renewables(a)

NRG Yield(a)

Corporate(a)

Eliminations 

Total
 
(In millions)
Operating revenues(a)
$
3,773


$
6,380


$
424


$
1,009


$
14


$
(971
)


$
10,629

Operating expenses
3,300


5,372


211


348


220


(964
)


8,487

Depreciation and amortization
377


117


196


334


32





1,056

Impairment losses
1,504


7


154


44







1,709

Development costs
13


2


45




7





67

Total operating cost and expenses
5,194


5,498


606


726


259


(964
)


11,319

   Other income - affiliate








87





87

Gain/(loss) on sale of assets
20




(5
)



1





16

Operating (loss)/income
(1,401
)

882


(187
)

283


(157
)

(7
)


(587
)
Equity in (losses)/earnings of unconsolidated affiliates
(14
)





71


6


(32
)


31

Impairment losses on investments
(74
)







(5
)




(79
)
Other income, net
22


1




4


11





38

Loss on debt extinguishment




(1
)

(3
)

(49
)




(53
)
Interest expense
(29
)

(6
)

(98
)

(306
)

(451
)




(890
)
(Loss)/income from continuing operations before income taxes
(1,496
)

877


(286
)

49


(645
)

(39
)


(1,540
)
Income tax expense/(benefit)
2


(9
)

(20
)

72


(37
)




8

Net (loss)/income from continuing operations
$
(1,498
)

$
886


$
(266
)

$
(23
)

$
(608
)

$
(39
)


$
(1,548
)
Loss from discontinued operations, net of income tax








(789
)




$
(789
)
Net (Loss)/Income
(1,498
)

886


(266
)

(23
)

(1,397
)

(39
)


(2,337
)
Less: Net income/(loss) attributable to noncontrolling interests and redeemable noncontrolling interests


2


(103
)

(87
)

(4
)

8



(184
)
Net (loss)/income attributable to NRG Energy, Inc.
$
(1,498
)

$
884


$
(163
)

$
64


$
(1,393
)

$
(47
)


$
(2,153
)














Balance sheet
 

 



 

 




Equity investments in affiliates
$
179


$


$
4


$
852


$
3


$



$
1,038

Capital expenditures (b)
481


82


521


31


12




1,127

Goodwill
165


374











539

Total assets
$
7,209


$
2,630


$
5,129


$
8,283


$
8,919


$
(8,852
)

$
23,318

(a) Inter-segment sales and net derivative gains and losses included in operating revenues
$
910

 
$
5

 
$
31

 
$

 
$
25

 
$

 
$
971

(b) Includes accruals.



190