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SEC Filing Details

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

Segment Review
The Company's segment structure reflects how management currently makes financial decisions and allocates resources. Effective January 2017, 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. The Company has recast data from prior periods to reflect changes in reportable segments to conform to the current year presentation.
During 2017, NRG Yield acquired several projects totaling 555 MW for cash consideration of approximately $245 million from NRG. These acquisitions were accounted for as transfers of entities under common control and accordingly, all historical periods have been recast to reflect this change.
On June 14, 2017, NRG deconsolidated GenOn for financial reporting purposes. The financial information for all historical periods have been recast to present GenOn as discontinued operations within the corporate segment.
Revenues
The following table contains a summary of NRG's operating revenues by segment for the years ended December 31, 2017, 2016 and 2015, as discussed in Item 15 — Note 18, Segment Reporting, to the consolidated financial statements. Refer to that footnote for additional financial information about NRG's business segments including a profit measure and total assets. In addition, refer to Item 2 — Properties, to the consolidated financial statements for information about facilities in each of NRG's business segments.
 
Year Ended December 31, 2017
 
Energy
Revenues
 
Capacity
Revenues
 
Retail
Revenues
 
Mark-to-
Market
Activities
 
Contract Amortization
 
Other
Revenues(a)
 
Total
Operating
Revenues(b)
 
(In millions)
Generation
$
2,636

 
$
851

 
$

 
$
37

 
$
14

 
$
235

 
$
3,773

Retail

 

 
6,385

 
(4
)
 
(1
)
 

 
6,380

Renewables
359

 

 

 
(12
)
 

 
77

 
424

NRG Yield
554

 
346

 

 

 
(69
)
 
178

 
1,009

Corporate and Eliminations (b)
(1,088
)
 
(11
)
 
3

 
218

 

 
(79
)
 
(957
)
Total
$
2,461

 
$
1,186

 
$
6,388

 
$
239

 
$
(56
)
 
$
411

 
$
10,629

(a)
Primarily consists of revenues generated by the Thermal business (NRG Yield segment), operation and maintenance revenues and unrealized trading activities, primarily at BETM (Generation segment).
(b)
Energy revenues include inter-segment sales primarily between Generation and Retail.
 
Year Ended December 31, 2016
 
Energy
Revenues
 
Capacity
Revenues
 
Retail
Revenues
 
Mark-to-
Market
Activities
 
Contract Amortization
 
Other
Revenues(c)
 
Total
Operating
Revenues(d)
 
(In millions)
Generation
$
3,171

 
$
891

 
$

 
$
(566
)
 
$
15

 
$
322

 
$
3,833

Retail

 

 
6,336

 

 
(1
)
 

 
6,335

Renewables
369

 

 

 
(6
)
 
(1
)
 
44

 
406

NRG Yield
582

 
345

 

 

 
(69
)
 
177

 
1,035

Corporate and Eliminations (d)
(991
)
 
(11
)
 
21

 
(70
)
 

 
(46
)
 
(1,097
)
Total
$
3,131

 
$
1,225

 
$
6,357

 
$
(642
)
 
$
(56
)
 
$
497

 
$
10,512

(c)
Primarily consists of revenues generated by the Thermal business (NRG Yield segment), operation and maintenance revenues and unrealized trading activities, primarily at BETM (Generation segment).
(d)
Energy revenues include inter-segment sales primarily between Generation and Retail.



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