> tuvwxy l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1Courier New1Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)**_($* #,##0_);_($* (#,##0);_($* ""_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* ""_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* ""??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* ""??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)60%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0) + ) , * Ј ~~ ؈ ~~#؈ ~~ ؈ ~~9#܈ ~~8#܈ ~~4#܈ ~~3#܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33FORM 10QAClearway Energy Inc.,Clearway Energy Inc (1)^9RESULTS OF OPERATIONS3KGLOSSARY OF TERMSpnIncome Statement&CONSOLIDATED STATEMENTS OF COMP]
Balance Sheet
Cash FlowsShareholders Equity&CONSOLIDATED STATEMENTS OF STOC&i)Cash and Cash Equivalents and R&8Accumulated Depreciation Accumu&>FDividends to Class A and Class &SClearway Energy LLC Distributio_Disaggregated Revenues!guDisaggregated Revenues (1)!IDisaggregated Revenues (2)!ҘDisaggregated Revenues (3)Contract BalancesUBuckthorn Renewables LLC&Investments Accounted for by th&Fair Value Accounting under ASC&Fair Value Accounting under (1)&Recurring Fair Value Measuremen&Recurring Fair Value Measur (1)&Derivative Fair Value Measureme&)Derivative Fair Value Measu (1)&=7Volumetric Underlying Derivativ&hFFair Value of Derivative Instru&^Fair Value of Derivative In (1)&`qFair Value of Derivative In (2)&Accumulated Other Comprehensive
Longterm Debt gNote 8 Earnings Per Share$Note 8 Earnings Per Share (1)Note 9 Segment Reporting#Note 9 Segment Reporting (1)Effective Tax Rate
5"Lessee`/
Lessee (1)C?
Lessee (2)N
Lessee (3)&\Introduction Environmental Regu&lIntroduction Environmental (1)&yIntroduction Environmental (2) 8Introduction and Overview$Introduction and Overview (1)&$Consolidated Results of Operati&SConsolidated Results of Ope (1)Economic Gross Margin Economic Gross Margin (1)u3Interest ExpensegDLiquidity PositionVCredit Ratings"adCash Dividends to InvestorsPqCash Flow Discussion&Net Cash Provided By Operating &Net Cash Used in Investing Acti&Net Cash Used in Financing Acti&Derivative Fair Value Measu (2)&;Derivative Fair Value Measu (3)pITEM 6 EXHIBITS
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??>Clearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$}$ }1
Clearway Energy, Inc.10Q
05/07/2019 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$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4athD5S(=PF0*8X>
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FORM 10QClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }2}$ }
Clearway Energy, Inc.10Q
05/07/2019Clearway Energy, Inc.
Delaware
461777204$(State or other jurisdiction(I.R.S. Employer)!of incorporation or organization)Identification No.)
2*300 Carnegie Center, Suite 300, Princeton,~
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New Jersey
(Zip Code)0((Address of principal executive offices)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.th\8Z6znF=PF0*8X>
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FORM 10QClearway Energy IncRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}0}1
Clearway Energy, Inc.10Q
05/07/2019Clearway Energy, Inc.
Title of each class
Trading Symbol(s)1
)Name of each exchange on which registered%Class A Common Stock, par value $0.01CWEN.ANew York Stock Exchange%Class C Common Stock, par value $0.01CWENNew York Stock Exchange
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tth\8a=PF0*8X>
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FORM 10QClearway Energy IncClearway Energy Inc (1)GLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$4}
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Clearway Energy, Inc.10Q
05/07/2019RESULTS OF OPERATIONS .
&CAUTIONARY STATEMENT REGARDING FORWARD~
LOOKING INFORMATIONGLOSSARY OF TERMS~
&
PART I  FINANCIAL INFORMATION~
/'ITEM 1  FINANCIAL STATEMENTS AND NOTES~
,$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~
#PART II  OTHER INFORMATION~
"ITEM 1  LEGAL PROCEEDINGS~
ITEM 1A  RISK FACTORS~
%ITEM 2  UNREGISTERED SALES OF EQUITY~
&SECURITIES AND USE OF PROCEEDS0(ITEM 3  DEFAULTS UPON SENIOR SECURITIES~
( ITEM 4  MINE SAFETY DISCLOSURES~
"ITEM 5  OTHER INFORMATION~
ITEM 6  EXHIBITS~
SIGNATURES~
Dlth\DAtKx9_4 !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0.}$ }8
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Clearway Energy, Inc.10Q
05/07/2019GLOSSARY OF TERMS
NOLs
Net Operating LossesNPPD&Nebraska Public Power DistrictNRGNRG Energy, Inc.
NRG ROFO Agreement
1
)Third Amended and Restated Right of First2*Offer Agreement, entered into as of August1)31, 2018, by and between NRG Energy, Inc.and the CompanyNRG TSA.&Transition Services Agreement dated as5of August 31, 2018 by and between NRG Energy,Inc. and the CompanyOECD2*The Organization for Economic Cooperationand DevelopmentOCI/OCL'Other comprehensive income/lossO&M!Operation and MaintenancePG&E( Pacific Gas and Electric CompanyPG&E Bankruptcy1)On January 29, 2019, PG&E Corporation and.&Pacific Gas and Electric Company filed0(voluntary petitions for relief under the.&Bankruptcy Code in the U.S. Bankruptcy5Court for the Northern District of CaliforniaPPA Power Purchase Agreement
RENOM2*Clearway Renewable Operation & MaintenanceDz lxl`<$V*m%3 !"#$%&'()*+,./0123456789:;<=>? LLC!ROFO!!Right of First Offer"
RPV Holdco""RPV Holdco 1 LLC#RTO#(# Regional Transmission Originator$SEC$/$'U.S. Securities and Exchange Commission%Senior Notes%/%'Collectively, the 2024 Senior Notes and&&&the 2026 Senior Notes'SPP''Solar Power Partners(Tax Act(%(Tax Cuts and Jobs Act of 2017.)&Wind TE Holdco Noncontrolling interest))*Thermal Business**%The Company's thermal business, which++1+)consists of thermal infrastructure assets,,4,,that provide steam, hot water and/or chilled1)water, and in some instances electricity,../.'to commercial businesses, universities,//(/ hospitals and governmental units0TSA0%0Transition Services Agreement1UPMC Thermal Project131+The University of Pittsburgh Medical Center2212)Thermal Project, a 73 MWt district energy3303(system that allows ECP to provide steam,4444,chilled water and 7.5 MW of emergency backup555power service to UPMC.6U.S.6 6United States of America7U.S. DOE7!7U.S. Department of Energy8Utah Solar Portfolio838+Collection consists of Four Brothers Solar,9909(LLC, Granite Mountain Holdings, LLC, and::4:,Iron Springs Holdings, LLC, which are equity;;3;+investments owned by Four Brothers Capital,<</<'LLC, Granite Mountain Capital, LLC, and==0=(Iron Springs Capital, LLC, respectively,>>7>/and are part of the March 2017 Drop Down Assets??1?)acquisition that closed on March 27, 2017Dl_s:mw*W[LMg@ABCDEFGHIJKLM@Utility Scale Solar@0@(Solar power projects, typically 20 MW orAA3A+greater in size (on an alternating current,BB.B&or AC, basis), that are interconnectedCCC%into the transmission or distributionDD/D'grid to sell power at a wholesale levelEVaREE
Value at RiskFVIEF FVariable Interest EntityGWind TE HoldcoG3G+Wind TE Holdco LLC, an 814 net MW portfolioHHHof twelve wind projectsIJ$K____________________________1L)Created by Morningstar Document Research.0M(http://documentresearch.morningstar.com/ XRt@i]Q)=PF0*8X>
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMS!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }8}$
7
Clearway Energy, Inc.10Q
05/07/2019Income Statement
$
Three months ended March 31,/'(In millions, except per share amounts)~
~
Operating Revenues
Total operating revenues~
f
~
$Operating Costs and ExpensesCost of operations~
R~
f%Depreciation and amortization~
R~
F"General and administrative~
~
)!Transaction and integration costs~
~
Development costs~
*"Total operating costs and expenses~
~
Operating Income~
~
Other Income (Expense)7/Equity in earnings of unconsolidated affiliates~
~
Other income, net~
~
Interest expense~
n~
& Total other expense, net~
~
:"Income Before Income Taxes~
*~
Income tax benefit~
~
Net Loss~
F 0(Less: Preacquisition net income of Drop ~
Down AssetsD?lymar0"SzF !"#$%&'()*+,./0123456. &Net Loss Excluding Preacquisition Net~
F ~
"!Income of Drop Down Assets1")Less: Loss attributable to noncontrolling~
"""~
""# interests2$*Net (Loss) Income Attributable to Clearway~
$$$~
$B$%Energy, Inc.0&((Losses) Earnings Per Share Attributable&&&2'*to Clearway Energy, Inc. Class A and Class(C Common Stockholders1))Weighted average number of Class A common~
)))~
)).*&shares outstanding  basic and diluted1+)Weighted average number of Class C common~
+&++~
++.,&shares outstanding  basic and diluted.&(Losses) Earnings per Weighted Average
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0}$
Clearway Energy, Inc.10Q
05/07/2019>6CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
$
Three months ended March 31,
(In millions)~
~
Net Loss~
F
$'
Other Comprehensive (Loss) Gain
.&Unrealized (loss) gain on derivatives,~
~
F.&net of income tax expense of $0 and $3'Other comprehensive (loss) gain~
~
F#Comprehensive (Loss) Income~
>~
F0(Less: Preacquisition net income of Drop ~
Down Assets%Less: Comprehensive loss attributable~
~
#to noncontrolling interests0(Comprehensive (Loss) Income Attributable~
~
b to Clearway Energy, Inc.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<:k_SG;fQMR+_=PF0*8X>
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }7}$
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Clearway Energy, Inc.10Q
05/07/2019
Balance Sheet $
(In millions, except shares)
March 31, 2019
December 31, 2018ASSETS(unaudited)Current Assets!
Cash and cash equivalents~
~
^
Restricted cash~
~
#Accounts receivable  trade~
n~
Inventory~
~
,$Prepayments and other current assets~
n~
vTotal current assets~
"~
*"Property, plant and equipment, net~
S~
QOther Assets( Equity investments in affiliates~
~
RIntangible assets, net~
~
Derivative instruments ~
"Deferred income taxes~
~
Right of use assets, net~
 Other noncurrent assets~
~
Total other assets~
z)~
'Total Assets~
F~
҄,$LIABILITIES AND STOCKHOLDERS? EQUITYCurrent Liabilities)!Current portion of longterm debt~
~
^DlpdXZ.`$V1o !"#$%&'()*+,./0123456789:;<=>? Accounts payable  trade~
~
$!Accounts payable  affiliate~
!!!~
!N!"Derivative instruments~
".""~
"" #Accrued interest expense~
###~
##6$.Accrued expenses and other current liabilities~
$$$~
$$!%Total current liabilities~
%%%~
%%&Other Liabilities&&&'Longterm debt~
'B''~
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(~((~
(F(#)Longterm lease liabilities~
))) ))%*Other noncurrent liabilities~
***~
**%+Total noncurrent liabilities~
+F++~
+W+,Total Liabilities~
,b,,~
,b,%Commitments and Contingencies.Stockholders' Equity...4/,Preferred stock, $0.01 par value; 10,000,000 /// //&0shares authorized; none issued41,Class A, Class B, Class C and Class D common~
111~
112%stock, $0.01 par value; 3,000,000,000/3'shares authorized (Class A 500,000,000,34+Class B 500,000,000, Class C 1,000,000,000,25*Class D 1,000,000,000); 193,402,886 shares36+issued and outstanding (Class A 34,599,645,/7'Class B 42,738,750, Class C 73,325,741,18)Class D 42,738,750) at March 31, 2019 and19)193,251,396 shares issued and outstanding0:((Class A 34,586,250, Class B 42,738,750,/;'Class C 73,187,646, Class D 42,738,750)<at December 31, 2018"=Additional paidin capital~
=:==~
==>Accumulated deficit~
>>>~
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??Dl4nN,ZT<k4c0@ABCDEFG@Noncontrolling interest~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance SheetShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }8}$
A
Clearway Energy, Inc.10Q
05/07/2019
Cash Flows
$
Three months ended March 31,~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
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Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U5}$
Clearway Energy, Inc.10Q
05/07/2019Shareholders' Equity
(In millions)
Preferred Stock
Common Stock
Additional
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Accumulated
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Stockholders' Capital
Comprehensive LossEquity%
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Balance Sheet
Cash FlowsShareholders Equity!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U5}$
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Clearway Energy, Inc.10Q
05/07/20197/CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(In millions)
Preferred Stock
Common Stock
Additional
Accumulated Deficit
Accumulated
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Total PaidIn
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }1}$
Clearway Energy, Inc.10Q
05/07/20196.Cash and Cash Equivalents, and Restricted Cash
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }2}$
Clearway Energy, Inc.10Q
05/07/2019:2Accumulated Depreciation, Accumulated Amortization
March 31, 2019
December 31, 2018
(In millions)1)Property, Plant and Equipment Accumulated~
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }!}$
Clearway Energy, Inc.10Q
05/07/2019<4Dividends to Class A and Class C common stockholders
First Quarter 2019#Dividends per Class A share?#Dividends per Class C share?
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class Disaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
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Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$}$
Clearway Energy, Inc.10Q
05/07/20190(Clearway Energy LLC Distributions to CEG
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
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Clearway Energy, Inc.10Q
05/07/2019Disaggregated Revenues
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Renewables Thermal
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
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05/07/2019Disaggregated Revenues
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Clearway Energy, Inc.10Q
05/07/2019Disaggregated Revenues
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Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
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05/07/2019Disaggregated Revenues
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Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }1}$
Clearway Energy, Inc.10Q
05/07/2019Contract Balances
(In millions)
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract Balances!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0}$
Clearway Energy, Inc.10Q
05/07/2019!Buckthorn Renewables, LLC
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$}$
Clearway Energy, Inc.10Q
05/07/2019VNInvestments Accounted for by the Equity Method and Variable Interest Entities,
(In millions)
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
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Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }6}$
Clearway Energy, Inc.10Q
05/07/2019+#Fair Value Accounting under ASC 820
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }1}$
Clearway Energy, Inc.10Q
05/07/2019+#Fair Value Accounting under ASC 820
As of March 31, 2019
As of December 31, 2018Level 2Level 3 Level 2
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(In millions)1
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U}$
Clearway Energy, Inc.10Q
05/07/2019)!Recurring Fair Value Measurements
As of March 31, 2019
As of December 31, 2018Fair Value (a)
Fair Value (a)
(In millions)Level 2Level 3
Total
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }a/}$
Clearway Energy, Inc.10Q
05/07/2019)!Recurring Fair Value Measurements
(In millions)
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$ }}$} }
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Clearway Energy, Inc.10Q
05/07/2019*"Derivative Fair Value Measurements
March 31, 2019
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(In millions)
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }I"}y
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Clearway Energy, Inc.10Q
05/07/2019*"Derivative Fair Value Measurements $
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}I } $
Clearway Energy, Inc.10Q
05/07/20195Volumetric Underlying Derivative Transactions
Total VolumeMarch 31, 2019December 31, 2018 Commodity
Units
(In millions)
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$4}$
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Clearway Energy, Inc.10Q
05/07/2019,$Fair Value of Derivative Instruments
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(In millions)3+Derivatives Designated as Cash Flow Hedges:
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }'}$
Clearway Energy, Inc.10Q
05/07/2019,$Fair Value of Derivative Instruments
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }y#}$
Clearway Energy, Inc.10Q
05/07/2019,$Fair Value of Derivative Instruments
As of December 31, 20186
.Gross Amounts of Recognized Assets/Liabilities
Derivative Instruments
Net Amount Interest rate contracts:
(In millions)Derivative assets~
.~
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Derivative liabilities~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }7}$
Clearway Energy, Inc.10Q
05/07/2019,$Accumulated Other Comprehensive Loss
$
Three months ended March 31,~
~
(In millions))
!Accumulated OCL beginning balance~
j
~
3+Reclassified from accumulated OCL to income~
~
1)due to realization of previously deferredamounts4,Marktomarket of cash flow hedge accounting~
~
6 contracts.&Accumulated OCL ending balance, net of~
b~
V5income tax benefit of $7 and $6, respectively6.Accumulated OCL attributable to noncontrolling~
~
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~
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other ComprehensiveNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }6}$ } '}
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Clearway Energy, Inc.10Q
05/07/2019Longterm Debt,
March 31, 2019
December 31, 2018
(
March, 2019, interest rate % (a)
.
&Letters of Credit Outstanding at March
31, 2019#(In millions, except rates)
2019 Convertible Notes
$
~
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2020 Convertible Notes~
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~
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~
5.696  7.015
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due 2034 and 2035!Buckthorn Solar, due 2025~
~
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~
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~
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L+1.75  L+2.375
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }2}$
Clearway Energy, Inc.10Q
05/07/2019!Note 8 Earnings Per Share
$
Three months ended March 31,~
~
0((In millions, except per share data) (a)Common Class ACommon Class C Common Class A
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }a/}$}$ }$}$
Clearway Energy, Inc.10Q
05/07/2019!Note 8 Earnings Per Share
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }8}$
Clearway Energy, Inc.10Q
05/07/2019 Note 9 Segment Reporting
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!Three months ended March 31, 2019
(In millions)Conventional Generation
Renewables Thermal
Corporate
TotalOperating revenues~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingEffective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }8}$
Clearway Energy, Inc.10Q
05/07/2019 Note 9 Segment Reporting
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!Three months ended March 31, 2018
(In millions)Conventional Generation
Renewables Thermal
Corporate
TotalOperating revenues~
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Cost of operations~
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7/Equity in earnings of unconsolidated affiliates~
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }<(}$ }$}$ }$
Clearway Energy, Inc.10Q
05/07/2019Effective Tax Rate
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&Loss before income tax benefit~
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!Effective income tax rate~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax Rate
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
Clearway Energy, Inc.10Q
05/07/2019Lessee
(In millions)
Operating lease cost~
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Total lease cost
~
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0.}$
Clearway Energy, Inc.10Q
05/07/2019Lessee +
#(In millions, except term and rate)
%ROU Assets  operating leases~
.
&Shortterm lease liability  operating
~
leases (a)%Longterm lease liability  operating~
leasesTotal lease liability~
&Cash paid for operating leases~
%Weighted average remaining lease term~
R&Weighted average discount rate
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0}$
Clearway Energy, Inc.10Q
05/07/2019Lessee
(In millions)
Remainder of 2019~
"~
~
6~
~
6
~
~
2~
~
2
Thereafter~
ZTotal lease payments~
BLess imputed interest~
z0(Total lease liability  operating leases~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
Clearway Energy, Inc.10Q
05/07/2019Lessee
(In millions)
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0}$
Clearway Energy, Inc.10Q
05/07/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
(In millions)
Conventional Generation
Renewables
TotalEnergy revenue~
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
Clearway Energy, Inc.10Q
05/07/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
(In millions)
Remainder of 2019~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
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Clearway Energy, Inc.10Q
05/07/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
(In millions)
%Property, plant and equipment~
^ Accumulated depreciation~
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!Net property, plant and equipment~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }m)}$ }U}$}$ }U}$ }} $ }
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Clearway Energy, Inc.10Q
05/07/2019!Introduction and Overview
Projects
Percentage Ownership
Net Capacity (MW) (a)
Offtake Counterparty
ExpirationConventional
El Segundo~
%~
"Southern California Edison ~
GenConn Devon
~
%
~
~
!
Connecticut Light & Power
~
GenConn Middletown~
%~
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Marsh Landing~
%~
B Pacific Gas and Electric ~
Walnut Creek~
%~
"Southern California Edison ~
~
f
Utility Scale Solar
Agua Caliente~
B %~
Pacific Gas and Electric ~
Alpine~
%~
Pacific Gas and Electric ~
Avenal~
%~
^ Pacific Gas and Electric ~
Avra Valley~
%~
jTucson Electric Power ~
Blythe~
%~
V"Southern California Edison ~
Borrego~
%~
j"San Diego Gas and Electric ~
Buckthorn Solar~
%~
jCity of Georgetown, TX ~
CVSR~
%~
Pacific Gas and Electric ~
Desert Sunlight 250~
f %~
"Southern California Edison ~
Desert Sunlight 300~
f %~
. Pacific Gas and Electric ~
Kansas South~
%~
R Pacific Gas and Electric ~
Roadrunner~
%~
REl Paso Electric ~
TA High Desert~
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Clearway Energy, Inc.10Q
05/07/2019!Introduction and Overview
Projects
Percentage Ownership
Net Capacity (MW) (a)
Offtake Counterparty
Expiration
Alta X (b)~
%~
&"Southern California Edison ~
Alta XI (b)~
%~
j"Southern California Edison ~
Buffalo Bear
~
%
~
N

%Western Farmers Electric Cooperative
~
Crosswinds (b) (f)~
%~
V#Corn Belt Power Cooperative ~
Elbow Creek (b) (f)~
%~
NRG Power Marketing LLC ~
Elkhorn Ridge (b) (f)̬P@ %~
&Nebraska Public Power District ~
Forward (b) (f)~
%~
v%Constellation NewEnergy, Inc. ~
Goat Wind (b) (f)~
%~
ZDow Pipeline Company ~
Hardin (b) (f)~
%~
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Laredo Ridge~
%~
B&Nebraska Public Power District ~
Lookout (b) (f)~
%~
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Odin (b) (f)X@ %~
R&Missouri River Energy Services ~
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. %~
j+#Southwestern Public Service Company ~
Sleeping Bear (b) (f)~
%~
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South Trent~
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AEP Energy Partners ~
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Spring Canyon II (b)fffffV@ %~
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Spring Canyon III (b)fffffV@ %~
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Taloga~
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Oklahoma Gas & Electric ~
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
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Clearway Energy, Inc.10Q
05/07/2019*"Consolidated Results of Operations
$
Three months ended March 31,
(In millions)~
~
ChangeOperating Revenues $
Energy and capacity revenues~
~
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Other revenues~
"~
~
Contract amortization~
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~
Total operating revenues~
f~
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$Operating Costs and Expenses
Cost of fuels~
N~
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~
!Other costs of operations~
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%Depreciation and amortization~
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"General and administrative~
~
~
)!Transaction and integration costs~
~
Development costs~
~
*"Total operating costs and expenses~
~
Operating Income~
~
~
Other Income (Expense) 7/Equity in earnings of unconsolidated affiliates~
~
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~
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&F&&~
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& V&"'Income of Drop Down Assets1()Less: Loss attributable to noncontrolling~
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Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of OperatiEconomic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U5}
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Clearway Energy, Inc.10Q
05/07/2019*"Consolidated Results of Operations
$
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~
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~
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(a)'Thermal MWt sold (in thousands)~
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+#Thermal MWh sold (in thousands) (b)~
:~
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
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Clearway Energy, Inc.10Q
05/07/2019Economic Gross Margin
(In millions)
Conventional Generation
Renewables
Thermal
Total)!Three months ended March 31, 2019
$Energy and capacity revenues~
B~
~
~
Other revenues

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~
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~
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~
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~
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~
Economic gross margin~
B~
~
~
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~
~
Other revenues ~
~
~
Cost of fuels~
~
~
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~
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Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
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Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginInterest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }m}$ }6
Clearway Energy, Inc.10Q
05/07/2019Economic Gross Margin
Segment
Increase (Decrease)
Reason for Increase
(In millions)Renewables:~
3+$7 million marktomarket loss on the Elbow
1
)Creek forward power sale contract entered1)into during the first quarter of 2019, as5well as a decrease of $3 million due to lower2*wind and solar resources, partially offset3+by revenue generated at the Buckthorn Solar,$facility which went COD in July 2018Thermal:~
.&Revenues generated at the UPMC Thermal2*Project, which was completed in the secondquarter of 2018
Conventional:~
.&Fewer outages in 2019 compared to 2018~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }=}$
Clearway Energy, Inc.10Q
05/07/2019Interest Expense
(In millions)
Increase (Decrease)3+Change in fair value of interest rate swaps~
%Issuance of Energy Center Minneapolis~
;
3Series E, F, G, H Notes in June 2018 and additional0(interest expense for the Buckthorn Solarprojectlevel debt4,Issuance of the 2025 Senior Notes in October~
0(2018, partially offset by lower interest0(expense due to maturity and repayment of5the remaining balance of the 2019 Convertible2*Notes in February 2019, as well as partial/'repayment of the 2020 Convertible Notesin October 2018%Normal amortization for projectlevel~
debt~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }:}$
Clearway Energy, Inc.10Q
05/07/2019Liquidity Position
(In millions)
March 31, 2019
December 31, 2018"Cash and cash equivalents:1)Clearway Energy, Inc. and Clearway Energy~
~
#
LLC, excluding subsidiariesSubsidiaries~
B~
Restricted cash:Operating accounts~
~
R80Reserves, including debt service, distributions,~
~
r2*performance obligations and other reserves3+Total cash, cash equivalents and restricted~
~
cash.&Revolving credit facility availability~
~
Total liquidity~
~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }y#}}$ }I
Clearway Energy, Inc.10Q
05/07/2019Credit Ratings
S&P
Moody'sClearway Energy, Inc.
BBBa2%5.375% Senior Notes, due 2024
BBBa2%
5.750% Senior Notes, due 2025
BB
Ba2%5.000% Senior Notes, due 2026
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }!}$
Clearway Energy, Inc.10Q
05/07/2019#Cash Dividends to Investors
First Quarter 2019#Dividends per Class A share?#Dividends per Class C share?
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to Investors!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }1}$
Clearway Energy, Inc.10Q
05/07/2019Cash Flow Discussion
$
Three months ended March 31,
~
~
Change
(In millions)1
)Net cash provided by operating activities~
~
~
%Net cash used in investing activities~
~
R~
J%Net cash used in financing activities~
~
~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }:}$
Clearway Energy, Inc.10Q
05/07/20191)Net Cash Provided By Operating Activities 1
)Changes to net cash provided by operating
(In millions)"activities were driven by:%Decrease in operating income adjusted~
for noncash items4,Decrease in working capital driven primarily~
80by the timing of accounts receivable collections'and payment of accounts payable/'Lower distributions from unconsolidated~
affiliates~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }:}$
Clearway Energy, Inc.10Q
05/07/2019%Net Cash Used in Investing Activities 8
0Changes to net cash used in investing activities
(In millions)
were driven by:1)Payment for the Buckthorn Solar Drop Down~
Asset in 2018/'Payment to acquire the Class A interest~
in the Oahu Partnership1)Payment to buy out an existing tax equity~
4,partner of Wind TE Holdco on January 2, 2019.&Lower net investment in unconsolidated~
5affiliates primarily in the DGPV partnershipswith CEG during 2019
Other~
~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }I;}$
Clearway Energy, Inc.10Q
05/07/2019%Net Cash Used in Financing Activities 8
0Changes in net cash used in financing activities
(In millions)
were driven by:/'Higher net repayments of longterm debt~
V2
*in 2019 compared to 2018, primarily driven1)by the maturity and repayment of the 2019.&Convertible Notes in the first quarterof 20193+Lower net contributions from noncontrolling~
*"interests in 2019 compared to 2018.&Net proceeds from the Clearway Energy,~
0(Inc. common stock offering under the ATMProgram in 2018.&Net proceeds from the revolving credit~
facility in 201891Decrease in dividends paid to common stockholders~
Bfrom 2018 to 2019~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U5}$
Clearway Energy, Inc.10Q
05/07/2019NFDerivative Fair Value Measurements Fair Value of Financial Instruments *
"Derivative Activity (Losses)/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~
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Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)ITEM 6 EXHIBITSU }*}$
Clearway Energy, Inc.10Q
05/07/2019NFDerivative Fair Value Measurements Fair Value of Financial Instruments
4
,Fair value of contracts as of March 31, 2019Maturity+#Fair Value Hierarchy (Losses)/Gains1 Year or LessGreater Than Greater Than
Greater Than
Total Fair
1 Year to 3 Years
3 Years to 5 Years
5 Years
Value
(In millions)Level 2~
~
~
~
~
zLevel 3~
~
~
~
Total~
~
~
~
~
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FORM 10QClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity!CONSOLIDATED STATEMENTS OF STOC!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 9 Segment ReportingNote 9 Segment Reporting (1)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)U }I }$ }6}$ }$4
!
Clearway Energy, Inc.10Q
05/07/2019ITEM 6 EXHIBITS
Number
Description
Method of Filing333333$@/'First Amendment to Right of First Offer3+Incorporated herein by reference to Exhibit.&Agreement, dated February 14, 2019, by/'10.1 to the Registrant's Current Report
1
)and between Clearway Energy Group LLC and
/
'on Form 8K filed on February 14, 2019.Clearway Energy, Inc.?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith. of Christopher S. Sotos.333333?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith.of Chad Plotkin.L?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith.of MaryLee Stillwell.~
#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.Dplznb&5 p4lym 0 (http://documentresearch.morningstar.com/H=PF0*8X>
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