|NRG ENERGY, INC. filed this Form 10-K on 03/01/2018|
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.
(b) Includes accruals.