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SEC Filing Details

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

Note 19 — Income Taxes
The income tax provision from continuing operations consisted of the following amounts:
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
(In millions, except percentages)
Current
 
 
 
 
 
State
$
19

 
$
6

 
$
9

Total — current
19

 
6

 
9

Deferred
 
 
 
 
 
U.S. Federal
(6
)
 
3

 
1,020

State
(7
)
 
(6
)
 
315

Foreign
2

 
2

 
1

Total — deferred
(11
)
 
(1
)
 
1,336

Total income tax expense
$
8

 
$
5

 
$
1,345

Effective tax rate
(0.5
)%
 
(0.5
)%
 
(27.0
)%
The following represents the domestic and foreign components of loss before income tax expense:
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
(In millions)
U.S. 
$
(1,557
)
 
$
(989
)
 
$
(4,997
)
Foreign
17

 
11

 
11

Total
$
(1,540
)
 
$
(978
)
 
$
(4,986
)
A reconciliation of the U.S. federal statutory rate of 35% to NRG's effective rate is as follows:
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
(In millions, except percentages)
Loss before income taxes
$
(1,540
)
 
$
(978
)
 
$
(4,986
)
Tax at 35%
(539
)
 
(342
)
 
(1,745
)
State taxes
19

 

 
(215
)
Foreign operations
2

 
10

 
1

Federal and state tax credits, excluding PTCs

 

 
(5
)
Tax Act - corporate income tax rate change
733

 

 

Valuation allowance due to corporate income tax rate change
(660
)
 

 

Valuation allowance - current period activities
482

 
398

 
3,023

Impact of non-taxable equity earnings
(5
)
 
22

 
(10
)
Book goodwill impairment
30

 

 
340

Net interest accrued on uncertain tax positions

 
1

 
(3
)
Production tax credits
(20
)
 
(26
)
 
(33
)
Recognition of uncertain tax benefits
(5
)
 
2

 
(15
)
Tax expense attributable to consolidated partnerships
4

 
(1
)
 
12

State rate change including true-up to current period activity
18

 
(59
)
 
(7
)
AMT refundable credit
(64
)
 

 

Other
13

 

 
2

Income tax expense
$
8

 
$
5

 
$
1,345

Effective income tax rate
(0.5
)%
 
(0.5
)%
 
(27.0
)%


193