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Balance SheetE
Cash Flows$xShareholders Equity&=CONDENSED CONSOLIDATED STATEMEN&Net Income attributable to NRG &Other Balance Sheet InformationRestricted CashDisaggregated Revenues!.#Disaggregated Revenues (1)AKContract Balances&aSale of South Central Portfolio&vSale of South Central Portf (1)CarlsbadCarlsbad (1)&7Note 5 Fair Value of Financial %Note 5 Fair Value of Finan (1)&yRecurring Fair Value Measuremen& Recurring Fair Value Measur (1)&dRecurring Fair Value Measur (2)&FRecurring Fair Value Measur (3)&2_Derivative Fair Value Measureme&jwDerivative Fair Value Measu (1)&Derivative Fair Value Measu (2)Counterparty Credit Risk#xCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)&Volumetric Underlying Derivativ&Fair Value of Derivative Instru&#,Fair Value of Derivative In (1)&QFFair Value of Derivative In (2)&`Accumulated Other Comprehensive&uImpact of Derivative Instrument&Impact of Derivative Instru (1)&mDiscontinued Operations and Dis&Discontinued Operations and (1)&Discontinued Operations and (2)&FDiscontinued Operations and (3)%3Note 9 Debt and Capital Leases&Summary of Significant Accounti&%Note 11 Changes in Capital Stru9Share Repurchases!:QNote 12 Earnings Per Share%jNote 12 Earnings Per Share (1)&}Discontinued Operations and (4)&Discontinued Operations and (5) 3Effective Income Tax Rate&Note 15 Related Party TransactiDebt and Capital Leases&~ For the three months ended Marc&3For the three months ended (1)MShareholders Equity (1)&ȐFor the three months ended (2)&For the three months ended (3)&%
For the three months ended (4)'Shareholders Equity (2)&pFor the three months ended (5) Introduction and Overview&Consolidated Results of OperatiElectricity Prices'Electricity Prices (1)0Economic Gross Margin
ZEconomic Gross Margin (1) ܃Economic Gross Margin (2)&ݘRetail gross margin and economi&Retail gross margin and eco (1)8Texas Region
EastWestOther&}Marktomarket for Economic Hedgi& Marktomarket for Economic H (1)&w< Marktomarket for Economic H (2)&O Operations and Maintenance Expe& f Operations and Maintenance (1)L~ Other Cost of Operations#˒ Other Cost of Operations (1)& Selling General and Administrat& Selling General and Adminis (1) Interest Expense& IncomeLoss from Discontinued Opa Liquidity Position"
Debt and Capital Leases (1)
First Lien Structure2
Capital ExpendituresM
Balance Sheet (1)&]b
Net Cash Used By Operating Acti&v
Net Cash Provided By Investing &
Net Cash Used By Financing Acti&
Fair Value Measurements and Dis&ݲ
Fair Value Measurements and (1)l
Commodity Price Risk&
ITEM 2 UNREGISTERED SALES OF EQ
ITEM 6 EXHIBITS
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??cNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }$}$ }1
NRG ENERGY, INC.10Q
05/02/2019 FORM 10Q
x
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'Quarterly report pursuant to Section 13/'or 15(d) of the Securities Exchange Actof 1934
1)For the Quarterly Period Ended: March 31,~
o0(Transition report pursuant to Section 13/'or 15(d) of the Securities Exchange Actof 1934$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6ymIc4 =PF0*8X>
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FORM 10QRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }2}$ }
NRG ENERGY, INC.10Q
05/02/2019NRG Energy, Inc.
Delaware
411724239$(State or other jurisdiction(I.R.S. Employer)!of incorporation or organization)Identification No.)
2*804 Carnegie Center, Princeton, New Jersey~
r0((Address of principal executive offices)
(Zip Code)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.~rfBd@Z=PF0*8X>
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FORM 10QNRG Energy IncGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }$4}
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NRG ENERGY, INC.10Q
05/02/2019RESULTS OF OPERATIONS .
&CAUTIONARY STATEMENT REGARDING FORWARD~
LOOKING INFORMATIONGLOSSARY OF TERMS~
&
PART I  FINANCIAL INFORMATION~
"1)ITEM 1  CONDENSED CONSOLIDATED FINANCIAL~
"STATEMENTS AND NOTES,$ITEM 2  MANAGEMENT?S DISCUSSION AND~
3+ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS%ITEM 3  QUANTITATIVE AND QUALITATIVE~
*%DISCLOSURES ABOUT MARKET RISK( ITEM 4  CONTROLS AND PROCEDURES~
2#PART II  OTHER INFORMATION~
6"ITEM 1  LEGAL PROCEEDINGS~
6ITEM 1A  RISK FACTORS~
6%ITEM 2  UNREGISTERED SALES OF EQUITY~
6&SECURITIES AND USE OF PROCEEDS0(ITEM 3  DEFAULTS UPON SENIOR SECURITIES~
6( ITEM 4  MINE SAFETY DISCLOSURES~
6"ITEM 5  OTHER INFORMATION~
6ITEM 6  EXHIBITS~
:
SIGNATURES~
>DlymaI D$W.[vB !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }U}$ }>
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NRG ENERGY, INC.10Q
05/02/2019GLOSSARY OF TERMS
2018 Form 10K
0
(NRG?s Annual Report on Form 10K for the$year ended December 31, 20182023 Term Loan Facility5The Company's $1.7 billion term loan facility
2
*due 2023, a component of the Senior CreditFacilityARO#Asset Retirement ObligationASC3+The FASB Accounting Standards Codification,0(which the FASB established as the sourceof authoritative GAAPASU.&Accounting Standards Updates  updates
to the ASCAverage realized prices%Volumeweighted average power prices,0(net of average fuel costs and reflecting$the impact of settled hedgesBankruptcy Code2*Chapter 11 of Title 11 the U.S. BankruptcyCodeBankruptcy Court.&United States Bankruptcy Court for the4,Southern District of Texas, Houston DivisionBETM/'Boston Energy Trading and Marketing LLCBTUBritish Thermal UnitBusiness Solutions%NRG's business solutions group, which2*includes demand response, commodity sales,D l}qeA?1_1Ef !"#$%&'()*+,./0123456789:;<=>? / 'energy efficiency and energy management!!!services"CAA""
Clean Air Act
#CAISO#.#&California Independent System Operator$Carlsbad$0$(Carlsbad Energy Center, a 528 MW natural%%.%&gasfired project located in Carlsbad,&&
&CA'CDD''Cooling Degree Day(CDWR(0((California Department of Water Resources)CFTC)1))U.S. Commodity Futures Trading Commission*C&I*<*4Commercial industrial and governmental/institutional+CES++Clean Energy Standard
,Cleco,$,Cleco Corporate Holdings LLCCO 2Carbon Dioxide
.ComEd..Commonwealth Edison/Company//NRG Energy, Inc.0CPP00Clean Power Plan1CWA11Clean Water Act2D.C. Circuit212)U.S. Court of Appeals for the District of333Columbia Circuit4Distributed Solar404(Solar power projects that primarily sell5505(power to customers for usage on site, or66/6'are interconnected to sell power into a777local distribution grid
8DNREC808(Delaware Department of Natural Resources99!9and Environmental Control:Economic gross margin:0:(Sum of energy revenue, capacity revenue,;;.;&retail revenue and other revenue, less<<<%cost of fuels and other cost of sales=EGU= =Electric Generating Unit>EME>>Edison Mission Energy?EPA?,?$U.S. Environmental Protection AgencyDlUhB h
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }m)}$ }=
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NRG ENERGY, INC.10Q
05/02/2019GLOSSARY OF TERMS
GenOn
GenOn Energy, Inc.GenOn Entities;3GenOn and certain of its wholly owned subsidiaries,,$including GenOn Americas Generation.
1
)that filed voluntary petitions for relief/'under Chapter 11 of the Bankruptcy Code0(in the Bankruptcy Court on June 14, 2017GHGGreenhouse GasGIP&Global Infrastructure PartnersGreen Mountain Energy%Green Mountain Energy CompanyGWh
Gigawatt HourHAPHazardous Air PollutantHDDHeating Degree Day Heat Rate0(A measure of thermal efficiency computed0(by dividing the total BTU content of the4,fuel burned by the resulting kWhs generated.3+Heat rates can be expressed as either gross0(or net heat rates, depending whether the/'electricity output measured is gross or1)net generation and is generally expressedas BTU per net kWhHLW$Highlevel radioactive wasteICE!Intercontinental ExchangeDc l}qeAYu@q3Y n# !"#$%&'()*+,./0123456789:;<=>? ISO 2 *Independent System Operator, also referred!!!
to as RTOs"ISONE""ISO New England Inc.#kWh##
Kilowatthour
$LaGen$!$Louisiana Generating, LLC
%LIBOR%&%London InterBank Offered Rate
<IPs&4&,Collectively, the NRG LTIP and the NRG GenOn'''LTIP(Mass Market(2(*Residential and small commercial customers)MATS)4),Mercury and Air Toxics Standards promulgated***
by the EPA+MDth++Thousand Dekatherms,Midwest Generation,,Midwest Generation, LLCMISO1)Midcontinent Independent System Operator,...Inc.
/MMBtu/%/Million British Thermal Units
0MW00 Megawatts1MWe11Megawatt equivalent2MWh2820Saleable megawatt hour net of internal/parasitic333load megawatthour
4NAAQS4.4&National Ambient Air Quality Standards5NEPOOL55New England Power Pool6NERC676/North American Electric Reliability Corporation
7NJBPU7,7$New Jersey Board of Public Utilities8Net Exposure808(Counterparty credit exposure to NRG, net999
of collateral:NOL::Net Operating Loss;NO x;;Nitrogen Oxides
<NPDES<0<(National Pollutant Discharge Elimination===System>NPNS>#>Normal Purchase Normal Sale?NRC?*?"U.S. Nuclear Regulatory CommissionD
lC1 \.U~'bf5tJ@ABCDEFGHIJKLMNOPQR@NRG@@NRG Energy, Inc.ANRG Yield, Inc.A0A(NRG Yield, Inc., which changed it's nameBB.B&to Clearway Energy, Inc. following theCC3C+sale by NRG of NRG Yield and the RenewablesDDDPlatform to GIP*E"Nuclear Decommissioning Trust FundE0E(NRG's nuclear decommissioning trust fundFF3F+assets, which are for the Company's portionGG0G(of the decommissioning of the STP, unitsHH
H1 & 2 INuclear Waste Policy ActII%U.S. Nuclear Waste Policy Act of 1982JNY DECJ9J1New York Department of Environmental Conservation
KNYISOK,K$New York Independent System Operator
LNYMEXL$LNew York Mercantile ExchangeMNYSPSCM0M(New York State Public Service CommissionNO$P____________________________1Q)Created by Morningstar Document Research.0R(http://documentresearch.morningstar.com/*Uhn$4pg"=PF0*8X>
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }U}$ }y<
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NRG ENERGY, INC.10Q
05/02/2019GLOSSARY OF TERMS
OCI/OCL
)
!Other Comprehensive Income/(Loss)ORDC&Operating Reserve Demand CurvePA PUC.&Pennsylvania Public Utility Commission
Peaking
5
Units expected to satisfy demand requirements3+during the periods of greatest or peak load
on the system
Petra Nova0(Petra Nova Parish Holdings, LLC which is1)50% owned by NRG, owns and operates a 240:2MWe carbon capture system and a 78 MW cogeneration0(facility, and owns an equity interest inan oilfieldPG&E4,PG&E Corporation (NYSE: PCG) and its primary%operating subsidiary, Pacific Gas andElectric CompanyPJM PJM Interconnection, LLC
PM2.5.&Particulate Matter that has a diameter$of less than 2.5 micrometersPPA Power Purchase AgreementPUCT*"Public Utility Commission of TexasRCRA.&Resource Conservation and Recovery Actof 1976Reliant Energy+#Reliant Energy Retail Services, LLCDc l}qeA_1BvBt5 !"#$%&'()*+,./0123456789:;<=>?
Renewables / 'Consists of the following projects that!!/!'NRG has an ownership interest in: Agua,""*""Ivanpah, Sherbino and NFL stadiums#Renewables Platform#/#'The renewable operating and development$$0$(platform sold to GIP with NRG's interest%%%in NRG Yield, Inc.&Retail&&%Reporting segment that includes NRG's''3'+residential and small commercial businesses((4(,which go to market as Reliant, NRG and other))0)(brands owned by NRG, as well as Business*** Solutions+RGGI+*+"Regional Greenhouse Gas Initiative,RTO,*,"Regional Transmission Organization
SDG&E San Diego Gas & Electric.SEC./.'U.S. Securities and Exchange Commission/Securities Act/./&The Securities Act of 1933, as amended0Senior Credit Facility00%NRG's senior secured credit facility,1121*comprised of the Revolving Credit Facility22'2and the 2023 Term Loan Facility3Senior Notes333+As of December 31, 2018, NRG's $3.8 billion4454outstanding unsecured senior notes consisting5515)of $733 million of 6.25% senior notes due6646,2024, $1.0 billion of the 7.25% senior notes7747,due 2026, $1.23 billion of the 6.625% senior8818)notes due 2027, and $821 million of 5.75%999senior notes due 2028:SNF::Spent Nuclear Fuel;SO 2;;Sulfur Dioxide<South Central Portfolio<2<*NRG's South Central Portfolio, which owned==.=&and operated a portfolio of generation>>5>assets consisting of Bayou Cove, Big CajunI,??1?)Big CajunII, Cottonwood and Sterlington,Dl`p:L@Yip Jv,@ABCDEFGHIJKLMNOPQRSTUVWXY@@4@,was sold on February 4, 2019. NRG is leasingAA0A(back the Cottonwood facility through MayBB~
BCSTPC0C(South Texas Project  nuclear generatingDD0D(facility located near Bay City, Texas inEE%Ewhich NRG owns a 44% interestFSTPNOCFF%South Texas Project Nuclear OperatingGGGCompanyHTexas GencoHHTexas Genco LLCITSAI)I!Transportation Services AgreementJTWCCJ#JTexas Westmoreland Coal Co.KU.S.K KUnited States of AmericaLU.S. DOEL!LU.S. Department of EnergyMUtility Scale SolarM0M(Solar power projects, typically 20 MW orNN2N*greater in size (on an alternating currentOO0O(basis), that are interconnected into thePP1P)transmission or distribution grid to sellQQ"Qpower at a wholesale levelRVaRRR
Value at RiskSVCPS"SVoluntary CleanUp ProgramTVIET TVariable Interest EntityUV$W____________________________1X)Created by Morningstar Document Research.0Y(http://documentresearch.morningstar.com/8Od>bb;TbVJ"=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6}$
B
NRG ENERGY, INC.10Q
05/02/2019Income Statement
$
Three months ended March 31,3+(In millions, except for per share amounts)~
~
Operating Revenues
Total operating revenues~
!
~
F
$Operating Costs and ExpensesCost of operations~
~
%Depreciation and amortization~
V~
+#Selling, general and administrative~
~
Reorganization costs~
6~
RDevelopment costs~
~
*"Total operating costs and expenses~
f~
Gain on sale of assets~
~
Operating Income~
v~
Other Income/(Expense)5Equity in (losses)/earnings of unconsolidated~
~
affiliatesOther income, net~
2 ( Loss on debt extinguishment, net ~
Interest expense~
:~
2Total other expense~
~
.0(Income from Continuing Operations Before~
~
Income TaxesDl~rfs1#K b1j !"#$%&'()*+,./0123456789:;<=>? Income tax expense~
~
)!!Income from Continuing Operations~
!z!!~
!!3"+Income/(loss) from discontinued operations,~
"""~
""#net of income tax$
Net Income~
$$$~
$$5%Less: Net loss attributable to noncontrolling %%%~
%J%.&&interest and redeemable noncontrolling' interests.(&Net Income Attributable to NRG Energy,~
(((~
(^()Inc..*&Earnings per Share Attributable to NRG***+Energy, Inc.0,(Weighted average number of common shares~
,Z,,~
,,outstanding  basic.%Income from continuing operations per.(\?...?./%weighted average common share  basic20*Income/(loss) from discontinued operations0=
ףp=?000{Gz011)per weighted average common share  basic22*Earnings per Weighted Average Common Share2Gz?222)\(?23 Basic04(Weighted average number of common shares~
4b44~
4
45outstanding  diluted6%Income from continuing operations per6(\?666{Gz?6/7'weighted average common share  diluted28*Income/(loss) from discontinued operations8Gz?888{Gz839+per weighted average common share  diluted2:*Earnings per Weighted Average Common Share:Q?:::ףp=
?:;  Diluted"<Dividends Per Common Share<Q?<<<Q?<=>$?____________________________Dl5K
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income Statement
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }1}$
NRG ENERGY, INC.10Q
05/02/2019Income Statement
$
Three months ended March 31,~
~
(In millions)
Net Income~
~
)!Other Comprehensive (Loss)/Income&Unrealized gain on derivatives ~
:0(Foreign currency translation adjustments~
~
Defined benefit plans~
~
)!Other comprehensive (loss)/income~
~
.Comprehensive Income~
~
%Less: Comprehensive loss attributable ~
j1)to noncontrolling interest and redeemablenoncontrolling interest,$Comprehensive Income Attributable to~
~
jNRG Energy, Inc.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>n0~rfy#i'W"sg?=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }7}$
Y
NRG ENERGY, INC.10Q
05/02/2019
Balance Sheet
March 31, 2019
December 31, 2018( (In millions, except share data)(Unaudited)ASSETS
Current Assets
!Cash and cash equivalents~
n
~
)!Funds deposited by counterparties~
.~
Restricted cash~
>~
F Accounts receivable, net~
~
Inventory~
~
rDerivative instruments~
~
1)Cash collateral paid in support of energy~
~
~"risk management activities,$Prepayments and other current assets~
v~
&Current assets  held for sale ~
0(Current assets  discontinued operations ~
Total current assets~
6~
B8*"Property, plant and equipment, net~
j)~
/Other Assets( Equity investments in affiliates~
~
r,$Operating lease rightofuse assets,~
netGoodwill~
~
Dlui _)Z./\F !"#$%&'()*+,./0123456789:;<=>? Intangible assets, net~
~
> *!"Nuclear decommissioning trust fund~
!:!!~
!^
!"Derivative instruments~
"n""~
""#Deferred income taxes~
###~
## $Other noncurrent assets~
$$$~
$$*%"Noncurrent assets  heldforsale %%%~
%6%4&,Noncurrent assets  discontinued operations &&&~
&&'Total other assets~
'z5''~
'2>'(Total Assets~
(((~
((,)$LIABILITIES AND STOCKHOLDERS? EQUITY)))*Current Liabilities***5+Current portion of longterm debt and capital~
+++~
+"+,leases6.Current portion of operating lease liabilities~
* .Accounts payable~
.
..~
.~
./Derivative instruments~
///~
/
/.0&Cash collateral received in support of~
0.00~
00)1!energy risk management activities62.Accrued expenses and other current liabilities~
222~
2
2+3#Current liabilities  heldforsale 333~
3354Current liabilities  discontinued operations 444~
4"4!5Total current liabilities~
5f55~
5z%56Other Liabilities666)7!Longterm debt and capital leases~
7zc77~
7d7/8'Noncurrent operating lease liabilities~
8F88 88'9Nuclear decommissioning reserve~
9z99~
9j9/:'Nuclear decommissioning trust liability~
:::~
::;Derivative instruments~
;z;;~
;;<Deferred income taxes~
<<<~
<<%=Other noncurrent liabilities~
===~
==/>'Noncurrent liabilities  heldforsale >>>~
>>.?&Noncurrent liabilities  discontinued ???~
? ?Dl0m %o_Mxwq'R@ABCDEFGHIJKLMNOPQRSTUVWX@
operationsATotal other liabilities~
AFAA~
AABTotal Liabilities~
BBB~
BBC%Redeemable noncontrolling interest in~
CJCC~
CNCDsubsidiaries%ECommitments and ContingenciesEEEEEFStockholders? EquityFFF2G*Common stock; $0.01 par value; 500,000,000~
GGG~
GG6H.shares authorized; 421,786,061 and 420,288,8865Ishares issued and 267,538,257 and 283,650,0390J(shares outstanding at March 31, 2019 and'KDecember 31, 2018, respectively"LAdditional paidin capital~
LfLL~
LLMAccumulated deficit~
MRMM~
MM2N*Less treasury stock, at cost  154,247,804~
NNN~
NBN0O(and 136,638,847 shares at March 31, 2019+P#and December 31, 2018, respectively,Q$Accumulated other comprehensive loss~
QQQ~
QQ"RTotal Stockholders? Equity~
RRR~
RR2S*Total Liabilities and Stockholders? Equity~
SSS~
SSTU$V____________________________1W)Created by Morningstar Document Research.0X(http://documentresearch.morningstar.com/6*
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance SheetShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }I;}$
V
NRG ENERGY, INC.10Q
05/02/2019
Cash Flows
$
Three months ended March 31,
(In millions)~
~
,$Cash Flows from Operating Activities
Net income~
~
3+Income/(loss) from discontinued operations,~
~
net of income tax%Net income from continuing operations~
z~
.&Adjustments to reconcile net income to2*net cash provided by operating activities:5Equity in losses/(earnings) of unconsolidated~
V~
affiliates0(Depreciation, amortization and accretion~
r~
Provision for bad debts~
j~
>$Amortization of nuclear fuel~
6~
60(Amortization of financing costs and debt~
~
discount/premiums*"Adjustment for debt extinguishment ~
5Amortization of intangibles and outofmarket~
~
& contracts4,Amortization of unearned equity compensation~
~
2*Loss/(gain) on sale and disposal of assets~
~
)!Changes in derivative instruments~
~
D
lxlCvY\Y !"#$%&'()*+,./0123456789:;<=>?6 .Changes in deferred income taxes and liability~
~
"!for uncertain tax benefits1")Changes in collateral deposits in support~
"""~
"",#$of energy risk management activities0$(Changes in nuclear decommissioning trust~
$&$$~
$$% liability(& Changes in other working capital~
&&&~
&&5'Cash (used)/provided by continuing operations~
'''~
''0((Cash provided by discontinued operations~
("((~
(()%Net Cash (Used)/Provided by Operating~
)))~
)z)*
Activities,+$Cash Flows from Investing Activities+++/,'Payments for acquisitions of businesses~
,,,~
,,Capital expenditures~
>~
5.Net proceeds from sale of emission allowances ...~
.../&Investments in nuclear decommissioning~
///~
//0trust fund securities911Proceeds from the sale of nuclear decommissioning~
111~
112trust fund securities13)Proceeds from sale of assets, net of cash~
333~
3354disposed and sale of discontinued operations,5net of fees06(Changes in investments in unconsolidated~
666~
667
affiliates08(Contributions to discontinued operations~
8R88~
88
9Other~
999 995:Cash provided/(used) by continuing operations~
:::~
:^:,;$Cash used by discontinued operations~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }y#}$
NRG ENERGY, INC.10Q
05/02/2019Shareholders' Equity
Common
Additional
Accumulated Deficit
Treasury
Accumulated
Total
StockPaidIn
Stock
OtherStockholders'Capital
ComprehensiveEquity
Loss
(In millions)%Balances at December 31, 2018~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }$4}$
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NRG ENERGY, INC.10Q
05/02/2019A9CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Common
Additional
Accumulated Deficit
Treasury
Accumulated
Noncon trolling
Total
StockPaidIn
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~
~
~
~
~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }0.}$
NRG ENERGY, INC.10Q
05/02/20193+Net Income attributable to NRG Energy, Inc.
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG Restricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }2}$
NRG ENERGY, INC.10Q
05/02/2019'Other Balance Sheet Information
March 31, 2019
December 31, 2018
(In millions)2*Accounts receivable allowance for doubtful~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }2}$
NRG ENERGY, INC.10Q
05/02/2019Restricted Cash
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December 31, 2017
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }@}$
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NRG ENERGY, INC.10Q
05/02/2019Disaggregated Revenues
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!Three months ended March 31, 2019
Generation
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Texas East/West/Other
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesContract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
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NRG ENERGY, INC.10Q
05/02/2019Disaggregated Revenues
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
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NRG ENERGY, INC.10Q
05/02/2019Contract Balances
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portf (1)
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NRG ENERGY, INC.10Q
05/02/2019'Sale of South Central Portfolio
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6}$
NRG ENERGY, INC.10Q
05/02/2019'Sale of South Central Portfolio
(In millions)
December 31, 2018!Cash and cash equivalents~
f( Accounts receivable, net  trade~
Inventory
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Other current assets~
0(Current assets  discontinued operations~
*"Property, plant and equipment, net~
b Other noncurrent assets~
4,Noncurrent assets  discontinued operations~
fAccounts payable~
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b$Outofmarket contracts, net~
%Other noncurrent liabilities~
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operations$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@D{ocW<a
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)Carlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }U5}$
NRG ENERGY, INC.10Q
05/02/2019Carlsbad
Three months ended
(In millions)March 31, 2019March 31, 2018Operating revenues~
N~
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~
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&including disposal, net of tax$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<znkus]=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
Carlsbad!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6}$
NRG ENERGY, INC.10Q
05/02/2019Carlsbad
(In millions)
December 31, 2018Restricted cash~
( Accounts receivable, net  trade~
*
Other current assets
~
0(Current assets  discontinued operations~
N*"Property, plant and equipment, net~
: Intangible assets, net~
& Other noncurrent assets~
4,Noncurrent assets  discontinued operations~
n 5Current portion of longterm debt and capital~
RleasesAccounts payable~
n!Other current liabilities~
5Current liabilities  discontinued operations~
)!Longterm debt and capital leases~
%Other noncurrent liabilities~
.&Noncurrent liabilities  discontinued~
operations$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/D lzn2]i!y{z"=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1) Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6}$
NRG ENERGY, INC.10Q
05/02/20192*Note 5 Fair Value of Financial Instruments
As of March 31, 2019
As of December 31, 2018Carrying Amount
Fair Value Carrying Amount
Fair Value
(In millions)
Assets:
Notes receivable~
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5Longterm debt, including current portion (a)~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial !Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }1}$
NRG ENERGY, INC.10Q
05/02/20192*Note 5 Fair Value of Financial Instruments
As of March 31, 2019
As of December 31, 2018Level 2Level 3 Level 2
Level 3
(In millions)1
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }7}$
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NRG ENERGY, INC.10Q
05/02/2019)!Recurring Fair Value Measurements
As of March 31, 2019
(In millions)
TotalLevel 1 Level 2
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }7}$
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NRG ENERGY, INC.10Q
05/02/2019)!Recurring Fair Value Measurements
As of December 31, 2018
(In millions)
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }I;}$
NRG ENERGY, INC.10Q
05/02/2019)!Recurring Fair Value Measurements
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(Fair Value Measurement Using Significant%Unobservable Inputs (Level 3))!Three months ended March 31, 2019
(In millions)
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }I;}$
NRG ENERGY, INC.10Q
05/02/2019)!Recurring Fair Value Measurements
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}$ } }
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NRG ENERGY, INC.10Q
05/02/2019*"Derivative Fair Value Measurements
March 31, 2019
Fair Value
Input/RangeAssetsLiabilities Valuation Technique
&Significant Unobservable Input
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}$ } }
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NRG ENERGY, INC.10Q
05/02/2019*"Derivative Fair Value Measurements
December 31, 2018
Fair Value
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&Significant Unobservable Input
LowHighWeighted Average
(In millions)
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }$}$ }y
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NRG ENERGY, INC.10Q
05/02/2019*"Derivative Fair Value Measurements &
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }0.}$}$
NRG ENERGY, INC.10Q
05/02/2019 Counterparty Credit Risk
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskRegulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }a/}$}$
NRG ENERGY, INC.10Q
05/02/2019 Counterparty Credit Risk
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }7}$ }
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NRG ENERGY, INC.10Q
05/02/2019Regulated Operations
As of March 31, 2019
As of December 31, 2018( (In millions, except maturities)
Fair ValueUnrealized Gains Unrealized Losses.
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated Operations!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }'}$
NRG ENERGY, INC.10Q
05/02/2019Regulated Operations
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }y#}<}$
NRG ENERGY, INC.10Q
05/02/20195Volumetric Underlying Derivative Transactions
Total VolumeMarch 31, 2019December 31, 2018Category
Units
(In millions)
Emissions
Short Ton~
~
%Renewable Energy CertificatesCertificates~
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Coal Short Ton~
&~
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$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8ymaUIR)\5=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }0}$
NRG ENERGY, INC.10Q
05/02/2019,$Fair Value of Derivative Instruments
Fair ValueDerivative Assets Derivative LiabilitiesMarch 31, 2019December 31, 2018 March 31, 2019
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(In millions)/'Derivatives Not Designated as Cash Flow
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }y#}$
NRG ENERGY, INC.10Q
05/02/2019,$Fair Value of Derivative Instruments
1
)Gross Amounts Not Offset in the March 31,2019 Balance Sheet80Gross Amounts of Recognized Assets / LiabilitiesDerivative Instruments '
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }y#}$
NRG ENERGY, INC.10Q
05/02/2019,$Fair Value of Derivative Instruments
0
(Gross Amounts Not Offset in the December31, 2018 Balance Sheet80Gross Amounts of Recognized Assets / LiabilitiesDerivative Instruments '
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }U5}$
NRG ENERGY, INC.10Q
05/02/2019,$Accumulated Other Comprehensive Loss
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6}$
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NRG ENERGY, INC.10Q
05/02/2019H@Impact of Derivative Instruments on the Statements of Operations
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }8}$
NRG ENERGY, INC.10Q
05/02/2019H@Impact of Derivative Instruments on the Statements of Operations
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}$
NRG ENERGY, INC.10Q
05/02/2019OGDiscontinued Operations and DispositionsSale and Leaseback Transactions
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!Three months ended March 31, 2019Operating lease cost~
^Variable lease cost~
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Total lease cost~
R$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,^_SG;/F=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }I;}$
NRG ENERGY, INC.10Q
05/02/2019OGDiscontinued Operations and DispositionsSale and Leaseback Transactions
(In millions))
!Three months ended March 31, 201991Cash paid for amounts included in the measurementof lease liabilities:5
 Operating cash flows from operating leases~
V
0(Rightofuse assets obtained in exchange~
Z+#for new operating lease liabilities$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,_SG;/dCsg?=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}y
NRG ENERGY, INC.10Q
05/02/2019OGDiscontinued Operations and DispositionsSale and Leaseback Transactions 
%Weightedaverage remaining lease term
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }<(}$
NRG ENERGY, INC.10Q
05/02/2019OGDiscontinued Operations and DispositionsSale and Leaseback Transactions
(In millions)Remainder of 2019~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3)!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }2}$ } m)
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NRG ENERGY, INC.10Q
05/02/2019&Note 9 Debt and Capital Leases #
(In millions, except rates)
March 31, 2019
December 31, 2018
*
"March 31, 2019 interest rate % (a) Recourse debt:
Senior Notes, due 2024~
v
~
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@Senior Notes, due 2026~
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~
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~
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J 4.125  6.00Subtotal recourse debt~
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N~
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&~
2*Subtotal longterm debt (including current~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }0}$
NRG ENERGY, INC.10Q
05/02/20192*Summary of Significant Accounting Policies
(In millions)
March 31, 2019
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant AccountiShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }%}}$ }}$ }}$
NRG ENERGY, INC.10Q
05/02/2019,$Note 11 Changes in Capital Structure
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }8}y}$
NRG ENERGY, INC.10Q
05/02/2019Share Repurchases
(
Total number of shares purchased
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/Amounts paid for shares purchased (in millions)*"Board Authorized Share Repurchases
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare Repurchases Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }1}$
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NRG ENERGY, INC.10Q
05/02/2019"Note 12 Earnings Per Share
$
Three months ended March 31,*"In millions, except per share data~
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NRG Energy, Inc;.&Net income attributable to NRG Energy,~
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}$}$ }}$
NRG ENERGY, INC.10Q
05/02/2019"Note 12 Earnings Per Share
$
Three months ended March 31,In millions of shares~
~
!Equity compensation plans ~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tth\3'=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6}$
NRG ENERGY, INC.10Q
05/02/2019YQDiscontinued Operations and DispositionsDiscontinued Operations and Dispositions,

%Three months ended March 31, 2019 (a)Retail
Generation Corporate
Eliminations
Total
(In millions)
Operating revenues (b)~
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~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6}$
NRG ENERGY, INC.10Q
05/02/2019YQDiscontinued Operations and DispositionsDiscontinued Operations and Dispositions,

%Three months ended March 31, 2018 (a)Retail
Generation Corporate
Eliminations
Total
(In millions)
Operating revenues (b)~
"
~
:
~
~
~
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j~
Z~
&~
~
Reorganization costs~
~
~
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~
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affiliates0(Income/(loss) from continuing operations~
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~
~
~
before income taxes0(Income/(loss) from continuing operations~
~
~
~
~
.&Loss from discontinued operations, net  ~
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~
~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6}$ }$}$ }$
NRG ENERGY, INC.10Q
05/02/2019!Effective Income Tax Rate
$
Three months ended March 31,!In millions, except rates~
~
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~
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Income tax expense from continuing operations~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax RateDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }$4}$
NRG ENERGY, INC.10Q
05/02/2019*"Note 15 Related Party Transactions
$
Three months ended March 31,~
~
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&Revenues from Related Parties Included
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party Transacti!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }a/}1
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NRG ENERGY, INC.10Q
05/02/2019Debt and Capital Leases
Ace Energy, Inc.!
NRG Business Services LLC
NRG PacGen Inc.#Allied Home Warranty GP LLC*"NRG Cabrillo Power Operations Inc.NRG Portable Power LLCAllied Warranty LLC,$NRG California Peaker Operations LLCNRG Power Marketing LLC
Arthur Kill Power LLC0
(NRG Cedar Bayou Development Company, LLC%
NRG Reliability Solutions LLC%Astoria Gas Turbine Power LLCNRG Connected Home LLC#NRG Renter's Protection LLCBidURenergy, Inc./'NRG Connecticut Affiliate Services Inc.NRG Retail LLCCabrillo Power I LLCNRG Construction LLC NRG Retail Northeast LLCCabrillo Power II LLC&NRG Curtailment Solutions, Inc$NRG Rockford Acquisition LLC'Carbon Management Solutions LLC$NRG Development Company Inc.#NRG Saguaro Operations Inc.Cirro Group, Inc.!NRG Devon Operations Inc.NRG Security LLC#Cirro Energy Services, Inc.!NRG Dispatch Services LLC NRG Services Corporation!Connecticut Jet Power LLC1)NRG Distributed Energy Resources Holdings%NRG SimplySmart Solutions LLCLLCDevon Power LLC)!NRG Distributed Generation PR LLC1)NRG South Central Affiliate Services Inc.Dunkirk Power LLC#NRG Dunkirk Operations Inc.)!NRG South Central Operations Inc.)!Eastern Sierra Energy Company LLCNRG ECOKAP Holdings LLCNRG South Texas LPEl Segundo Power, LLC&NRG El Segundo Operations Inc. NRG Texas C&I Supply LLCEl Segundo Power II LLC%NRG Energy Labor Services LLCNRG Texas Gregory LLC*"Energy Alternatives Wholesale, LLC%NRG Energy Services Group LLCNRG Texas Holding Inc.#Energy Choice Solutions LLC.&NRG Energy Services International Inc.
NRG Texas LLC Energy Plus Holdings LLCNRG Energy Services LLCNRG Texas Power LLC#Energy Plus Natural Gas LLC%NRG Generation Holdings, Inc.!NRG Warranty Services LLCDlwk_;hx8K}b. !"#$%&'()*+,./0123456789:;+ #Energy Protection Insurance Company NRG Greenco LLC NRG West Coast LLC!Everything Energy LLC)!!NRG Home & Business Solutions LLC+!#NRG Western Affiliate Services Inc.""Forward Home Security, LLC"NRG Home Services LLC%"O'Brien Cogeneration, Inc. II #GCP Funding Company, LLC#NRG Home Solutions LLC#ONSITE Energy, Inc.%$Green Mountain Energy Company&$NRG Home Solutions Product LLC$Oswego Harbor Power LLC%Gregory Partners, LLC#%NRG Homer City Services LLC$%Reliant Energy Northeast LLC"&Gregory Power Partners LLC#&NRG Huntley Operations Inc.(& Reliant Energy Power Supply, LLC'Huntley Power LLC'
NRG HQ DG LLC+'#Reliant Energy Retail Holdings, LLC(( Independence Energy Alliance LLC (NRG Identity Protect LLC+(#Reliant Energy Retail Services, LLC%)Independence Energy Group LLC%)NRG Ilion Limited Partnership)RERH Holdings, LLC+*#Independence Energy Natural Gas LLC*NRG Ilion LP LLC*Saguaro Power LLC$+Indian River Operations Inc.+NRG International LLC +Somerset Operations Inc.,Indian River Power LLC$,NRG Maintenance Services LLC,Somerset Power LLC Meriden Gas Turbines LLCNRG Mextrans Inc.Texas Genco GP, LLC.Middletown Power LLC/.'NRG MidAtlantic Affiliate Services Inc.".Texas Genco Holdings, Inc./Montville Power LLC&/NRG Middletown Operations Inc./Texas Genco LP, LLC0NEO Corporation%0NRG Montville Operations Inc. 0Texas Genco Services, LP1New Genco GP, LLC)1!NRG North Central Operations Inc.1US Retailers LLC2Norwalk Power LLC2%NRG Northeast Affiliate Services Inc.2Vienna Operations Inc.!3NRG Advisory Services LLC*3"NRG Norwalk Harbor Operations Inc.3Vienna Power LLC#4NRG Affiliate Services Inc.$4NRG Operating Services, Inc.%4WCP (Generation) Holdings LLC'5NRG Arthur Kill Operations Inc./5'NRG Oswego Harbor Power Operations Inc.5West Coast Power LLC/6'NRG Astoria Gas Turbine Operations Inc.6678$9____________________________1:)Created by Morningstar Document Research.0;(http://documentresearch.morningstar.com/<F`+V}Ghr'=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }8}$
*
NRG ENERGY, INC.10Q
05/02/20191)For the three months ended March 31, 2019
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended MarcShareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }1}$
NRG ENERGY, INC.10Q
05/02/20191)For the three months ended March 31, 2019
Guarantor Subsidiaries
"
NonGuarantor Subsidiaries
NRG Energy, Inc.
Eliminations (a)
Consolidated
(Note Issuer)
(In millions)
Net Income~
~
~
~
.
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1)Foreign currency translation adjustments,~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }7}$
D
NRG ENERGY, INC.10Q
05/02/2019Shareholders' Equity
Guarantor Subsidiaries
"
NonGuarantor Subsidiaries
NRG Energy, Inc.
Eliminations (a)
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(Note Issuer)ASSETS
(In millions)
Current Assets
!Cash and cash equivalents
$~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }I;}$
T
NRG ENERGY, INC.10Q
05/02/20191)For the three months ended March 31, 2019
Guarantor Subsidiaries
"
NonGuarantor Subsidiaries
NRG Energy, Inc.
Eliminations (a)
Consolidated
(Note Issuer)
(In millions),
$Cash Flows from Operating Activities
Net income~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }8}$
0
NRG ENERGY, INC.10Q
05/02/20191)For the three months ended March 31, 2018
Guarantor Subsidiaries
"
NonGuarantor Subsidiaries
NRG Energy, Inc.
Eliminations (a)
Consolidated
(Note Issuer)
(In millions)
Operating Revenues
Total operating revenues~
B~
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F $Operating Costs and Expenses
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }7}$
NRG ENERGY, INC.10Q
05/02/20191)For the three months ended March 31, 2018
Guarantor Subsidiaries
"
NonGuarantor Subsidiaries
NRG Energy, Inc.
Eliminations (a)
Consolidated
(Note Issuer)
(In millions)
Net Income/(Loss)~
.
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
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05/02/2019Shareholders' Equity
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
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05/02/20191)For the three months ended March 31, 2018
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
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Balance Sheet
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05/02/2019*"Consolidated Results of Operations
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}$ } U}
$
NRG ENERGY, INC.10Q
05/02/2019Electricity Prices
+
#Average on Peak Power Price ($/MWh)$Three months ended March 31,Region~
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Texas
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesEconomic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }$}$ } $}
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NRG ENERGY, INC.10Q
05/02/2019Electricity Prices
,
$Average Realized Power Price ($/MWh)$Three months ended March 31,Region~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }:}$
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NRG ENERGY, INC.10Q
05/02/2019Economic Gross Margin
)
!Three months ended March 31, 2019
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }:}$
+
NRG ENERGY, INC.10Q
05/02/2019Economic Gross Margin
)
!Three months ended March 31, 2018
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(In millions)Retail
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SubtotalCorporate/Eliminations
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}$}$ }$}$
NRG ENERGY, INC.10Q
05/02/2019Economic Gross Margin
$
Three months ended March 31,Weather Metrics
TexasEast/West/Other (b)~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }:}$
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NRG ENERGY, INC.10Q
05/02/20195Retail gross margin and economic gross margin
$
Three months ended March 31,,$(In millions except otherwise noted)~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economiTexas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }7}$
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NRG ENERGY, INC.10Q
05/02/20195Retail gross margin and economic gross margin
(In millions)/'Lower gross margin due to higher supply~
3+costs driven by an increase in power prices6
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Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }:}$
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NRG ENERGY, INC.10Q
05/02/2019Texas Region
(In millions)1)Higher gross margin due to a 28% increase~
0(in average realized prices primarily due2
*to the intersegment transactions at annualaverage power prices4,Higher gross margin driven by planned outage~
2*at STP and a forced outage at T.H. Whartonin 20185Higher gross margin due to margin enhancement~
2*initiatives from reduced fuel supply costs80Higher gross margin from commercial optimization~
activities0(Lower gross margin due to fewer sales of~
NOx emission credits
Other~
)!Increase in economic gross margin~
b/'Increase in marktomarket for economic~
j /'hedging primarily due to net unrealized.&gains/losses on open positions relatedto economic hedges0(Increase in contract and emission credit~
amortizationDlvj:\L !"#$% Increase in gross margin~
!"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/_d=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }:}$
0
NRG ENERGY, INC.10Q
05/02/2019East/West/Other
(In millions)6.Lower gross margin due to the deconsolidations~
V2*of Ivanpah in April 2018 and Agua Caliente
in August 2018/'Lower gross margin primarily due to the~
/'sale of BETM, Keystone and Conemaugh in!the third quarter of 20180(Lower gross margin due to the retirement~
&of Cabrillo I in December 201880Lower gross margin due to a decrease in economic~
1)generation volumes primarily due to spark,$spread contractions in the Northeast3+Lower gross margin driven by a 33% decrease~
0(in realized capacity pricing in New York4,Lower gross margin due to an extended forced~
.&outage at the Sunrise facility in 20197/Lower gross margin from commercial optimization~
activities1)Higher gross margin due to a 38% increase~
r1)in PJM capacity prices and a 16% increase!in ISONE capacity prices/'Higher gross margin primarily due to 6%~
FDTlsg7n!{QE8" !"#$%&'()*+,./6 .increase in average realized prices, primarily!at Midwest Generation5"Higher gross margin due to margin enhancement~
"
"2#*initiatives from reduced fuel supply costs
$Other~
$$)%!Decrease in economic gross margin~
%%/&'Increase in marktomarket for economic~
&&/''hedging primarily due to net unrealized.(&gains/losses on open positions related)to economic hedges *Decrease in gross margin~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }U5}$
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NRG ENERGY, INC.10Q
05/02/20196.Marktomarket for Economic Hedging Activities
)
!Three months ended March 31, 2019
Generation
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Texas East/West/Other
Eliminations (a)
Total
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }U5}$
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NRG ENERGY, INC.10Q
05/02/20196.Marktomarket for Economic Hedging Activities
)
!Three months ended March 31, 2018
Generation
Retail
Texas East/West/Other
Eliminations (a)
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}$
NRG ENERGY, INC.10Q
05/02/20196.Marktomarket for Economic Hedging Activities
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Three months ended March 31,
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
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NRG ENERGY, INC.10Q
05/02/2019*"Operations and Maintenance Expense
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Retail
Texas East/West/Other
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
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NRG ENERGY, INC.10Q
05/02/2019*"Operations and Maintenance Expense
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3+due to cost efficiencies as a result of theTransformation Plan.&Decrease in operations and maintenance~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }<(}$
NRG ENERGY, INC.10Q
05/02/2019 Other Cost of Operations
Generation
Retail
Texas East/West/Other
Total
(In millions))
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of Operations!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6to cost efficiencies as a result of the Transformation
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$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0vj^. yi]=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }<(}$
NRG ENERGY, INC.10Q
05/02/2019+#Selling, General and Administrative
Retail
Generation
Corporate
Total
(In millions))!Three months ended March 31, 2019~
6~
~
~
)
!Three months ended March 31, 2018~
~
~
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~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and AdministratInterest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }>}$
NRG ENERGY, INC.10Q
05/02/2019+#Selling, General and Administrative
(In millions)2*Increase in selling and marketing expenses~
>1)associated with costs incurred for margin
enhancement initiatives.&Increase in bad debt expense primarily~
*( due to higher customer attrition:2Increase in selling expense due to the acquisition~
&of XOOM in June 2018.&Decrease in general and administrative~
<4expense from cost initiatives for the TransformationPlan
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<4 Increase in selling, general and administrative~
J$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<wk_S#yV
fE9=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }8}$
NRG ENERGY, INC.10Q
05/02/2019Interest Expense
(In millions)/'Increase in derivative interest expense~
V2*from changes in the fair value of interest
rate swaps./'Decrease related to the deconsolidation~
,$of Ivanpah and Agua Caliente in 2018/'Decrease related to repurchases of $640~
7/million of Senior Notes in 2018 and refinancing4,debt of $575 million at lower interest rates
Other~
)! Decrease in interest expense~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8~rf6w*r:=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest ExpenseLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }$4}$
NRG ENERGY, INC.10Q
05/02/2019E=Income/(Loss) from Discontinued Operations, Net of Income Tax
$
Three Months Ended March 31,
(In millions)~
~
ChangeSouth Central Portfolio~
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$Yield Renewables Platform & Carlsbad
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net of tax$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,1i]QE9]]=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}$
NRG ENERGY, INC.10Q
05/02/2019Liquidity Position
(In millions)
March 31, 2019
December 31, 2018"Cash and cash equivalents:~
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~
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~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionFirst Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }0}$
NRG ENERGY, INC.10Q
05/02/2019Debt and Capital Leases
Sales
#
Cash Proceeds (in millions)South Central Portfolio~
Carlsbad~
2
Guam
~
"
Other~
0(Completed sales transactions as of March~
b31, 2019$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.wk_#\&uM=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)Capital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }6} }$ } }$ } }$ } }$ }
NRG ENERGY, INC.10Q
05/02/2019First Lien Structure 2
*Equivalent Net Sales Secured by First Lien~
~
~
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Structure (a)
In MW~
~
V
~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }$4}$
NRG ENERGY, INC.10Q
05/02/2019Capital Expenditures
Maintenance
Environmental
Growth Investments (c)
Total
(In millions)Retail~
$~
*~
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Generation
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital Expenditures!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }}$
NRG ENERGY, INC.10Q
05/02/2019
Balance Sheet
$
Three months ended March 31,
~
~
Change
(In millions)
%Net cash (used)/provided by operating~
~
z
~
activities%Net cash provided/(used) by investing~
~
~
activities%Net cash used by financing activities~
R~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2Pui;i%
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }1}$
NRG ENERGY, INC.10Q
05/02/2019%Net Cash Used By Operating Activities
(In millions)0(Changes in cash collateral in support of~
1)risk management activities due to changes
in commodity prices1)Decrease in cash provided by discontinued~
operations.&Decrease in accounts payable primarily~
&due to the Transformation Plan)!Decrease in other working capital~
%Increase in operating income adjusted~
Nfor noncash items~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:ui]Q!yZ8i=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }:}$
NRG ENERGY, INC.10Q
05/02/20191)Net Cash Provided By Investing Activities
(In millions)0(Increase in proceeds from sale of assets~
%and discontinued operations primarily2
*due to sale of South Central Portfolio andCarlsbad80Decrease in cash used by discontinued operations~
( Decrease in capital expenditures~
0(Increase in proceeds received from sales~
f%of nuclear decommissioning trust fund$securities, net of purchases1)Increase in contributions to discontinued~
operations.&Increase in cash paid for acquisitions~
0(due to deferred acquisition payment madein 2019
Other~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dl}qeYMyC/E;c=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }$4}$
NRG ENERGY, INC.10Q
05/02/2019%Net Cash Used By Financing Activities
(In millions)/'Increase in repurchases of Common Stock~
in 20191
)Decrease in cash provided by discontinued~
operations3+Decrease in distributions from subsidiaries~
&#to noncontrolling interests
Other~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4ui]Q!M7nbV.=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }U5}$
NRG ENERGY, INC.10Q
05/02/2019/'Fair Value Measurements and Disclosures !
Derivative Activity Gains
(In millions)2*Fair Value of Contracts as of December 31,~
~
/
'Contracts realized or otherwise settled~
during the periodChanges in fair value~
*4,Fair Value of Contracts as of March 31, 2019~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0sg[O6tL=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and DisCommodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }*}$
NRG ENERGY, INC.10Q
05/02/2019/'Fair Value Measurements and Disclosures
4
,Fair Value of Contracts as of March 31, 2019Maturity+#Fair value hierarchy (Losses)/Gains1 Year or Less&Greater than 1 Year to 3 Years' Greater than 3 Years to 5 Years
Greater than 5 Years
Total Fair
Value
(In millions)Level 1~
b~
~
$~
Level 2~
6~
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~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)!ITEM 2 UNREGISTERED SALES OF EQITEM 6 EXHIBITSU }I"}$
NRG ENERGY, INC.10Q
05/02/2019Commodity Price Risk
(In millions)~
~
VaR as of March 31,~
~
$Three months ended March 31,
Average~
~
Maximum~
~
Minimum~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.0znbbp=PF0*8X>
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price RiskITEM 6 EXHIBITSU }$4}$ }y}$ } y}
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NRG ENERGY, INC.10Q
05/02/2019JBITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
1
)For the three months ended March 31, 2019
(
Total Number of Shares Purchased
(
Average Price Paid per Share (a)
0
(Total Number of Shares Purchased as Part
/
'Approximate Dollar Value of Shares that/ 'of Publicly Announced Plans or Programs<4May Yet Be Purchased Under the Plans or Programs (b)Month #1 1
)(January 1, 2019 to January 31, 2019) (c)
~
6
~
~
6
~
[)
Month #2 3+(February 1, 2019 to February 28, 2019) (c)~
t{GD@~
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~
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FORM 10QNRG Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSGLOSSARY OF TERMS (1)GLOSSARY OF TERMS (2)Income StatementIncome Statement (1)
Balance Sheet
Cash FlowsShareholders Equity!CONDENSED CONSOLIDATED STATEMEN!Net Income attributable to NRG !Other Balance Sheet InformationRestricted CashDisaggregated RevenuesDisaggregated Revenues (1)Contract Balances!Sale of South Central Portfolio!Sale of South Central Portf (1)
CarlsbadCarlsbad (1)!Note 5 Fair Value of Financial Note 5 Fair Value of Finan (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Recurring Fair Value Measur (2)!Recurring Fair Value Measur (3)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Derivative Fair Value Measu (2)Counterparty Credit RiskCounterparty Credit Risk (1)Regulated OperationsRegulated Operations (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument!Impact of Derivative Instru (1)!Discontinued Operations and Dis!Discontinued Operations and (1)!Discontinued Operations and (2)!Discontinued Operations and (3) Note 9 Debt and Capital Leases!Summary of Significant Accounti!Note 11 Changes in Capital StruShare RepurchasesNote 12 Earnings Per Share Note 12 Earnings Per Share (1)!Discontinued Operations and (4)!Discontinued Operations and (5)Effective Income Tax Rate!Note 15 Related Party TransactiDebt and Capital Leases!For the three months ended Marc!For the three months ended (1)Shareholders Equity (1)!For the three months ended (2)!For the three months ended (3)!For the three months ended (4)Shareholders Equity (2)!For the three months ended (5)Introduction and Overview!Consolidated Results of OperatiElectricity PricesElectricity Prices (1)Economic Gross MarginEconomic Gross Margin (1)Economic Gross Margin (2)!Retail gross margin and economi!Retail gross margin and eco (1)Texas Region
EastWestOther!Marktomarket for Economic Hedgi!Marktomarket for Economic H (1)!Marktomarket for Economic H (2)!Operations and Maintenance Expe!Operations and Maintenance (1)Other Cost of OperationsOther Cost of Operations (1)!Selling General and Administrat!Selling General and Adminis (1)Interest Expense!IncomeLoss from Discontinued OpLiquidity PositionDebt and Capital Leases (1)First Lien StructureCapital ExpendituresBalance Sheet (1)!Net Cash Used By Operating Acti!Net Cash Provided By Investing !Net Cash Used By Financing Acti!Fair Value Measurements and Dis!Fair Value Measurements and (1)Commodity Price Risk!ITEM 2 UNREGISTERED SALES OF EQU }I }$ }6}$ }
NRG ENERGY, INC.10Q
05/02/2019ITEM 6 EXHIBITS
Number
Description
Method of Filing333333$@4,Amended and Restated Employee Stock PurchaseFiled herewith.Plan
?@
.
&Rule 13a14(a)/15d14(a) certification
Filed herewith.of Mauricio Gutierrez.333333?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith.of Kirkland B. Andrews.L?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith.of David Callen.~
#Section 1350 Certification.Furnished herewith.101 INSXBRL Instance Document.Filed herewith.101 SCH'XBRL Taxonomy Extension Schema.Filed herewith.101 CAL5XBRL Taxonomy Extension Calculation Linkbase.Filed herewith.101 DEF4,XBRL Taxonomy Extension Definition Linkbase.Filed herewith.101 LAB/'XBRL Taxonomy Extension Label Linkbase.Filed herewith.101 PRE,$XBRL Taxonomy Extension PresentationFiled herewith. Linkbase.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BM
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