← Filings of VST
Tables in the 10-K of Vistra Corp.
138 tables with numbers, filed Feb 25, 2022. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
Table 1 after “(Exact name of registrant as specified in its charter)”
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| Delaware | | 36-4833255 | | | |
| (State or other jurisdiction of incorporation or organization) | | (I.R.S. Employer Identification No.) | | | |
| 6555 Sierra Drive | Irving, | Texas | 75039 | (214) | 812-4600 |
| (Address of principal executive offices) (Zip Code) | | (Registrant's telephone number, including area code) | | | |
| | PAGE |
| Glossary | | ii |
| PART I. | | |
| Item 1. | BUSINESS | 1 |
| Item 1A. | RISK FACTORS | 19 |
| Item 1B. | UNRESOLVED STAFF COMMENTS | 46 |
| Item 2. | PROPERTIES | 46 |
| Item 3. | LEGAL PROCEEDINGS | 48 |
First 8 of 29 rows. The CSV has all of them.
Table 3 after “When the following terms and abbreviations appear in the text of this report, they have the meanings indicated below.”
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| 2020 Form 10-K | Vistra's annual report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 26, 2021 |
| Ambit or Ambit Energy | Ambit Holdings, LLC, and/or its subsidiaries (d/b/a Ambit), depending on context |
| ARO | asset retirement and mining reclamation obligation |
| CAA | Clean Air Act |
| CAISO | The California Independent System Operator |
| CARES Act | Coronavirus Aid, Relief, and Economic Security Act |
| CCGT | combined cycle gas turbine |
| CCR | coal combustion residuals |
First 8 of 32 rows. The CSV has all of them.
| ICE | Intercontinental Exchange |
| IEPA | Illinois Environmental Protection Agency |
| IPCB | Illinois Pollution Control Board |
| IRC | Internal Revenue Code of 1986, as amended |
| IRS | U.S. Internal Revenue Service |
| ISO | independent system operator |
| ISO-NE | ISO New England Inc. |
| kW | kilowatt |
First 8 of 35 rows. The CSV has all of them.
| Plan of Reorganization | Third Amended Joint Plan of Reorganization filed by the Debtors in August 2016 and confirmed by the Bankruptcy Court in August 2016 solely with respect to the TCEH Debtors and the Contributed EFH Debtors |
| PrefCo | Vistra Preferred Inc. |
| PrefCo Preferred Stock Sale | as part of the Spin-Off, the contribution of certain of the assets of the Predecessor and its subsidiaries by a subsidiary of TEX Energy LLC to PrefCo in exchange for all of PrefCo's authorized preferred stock, consisting of 70,000 shares, par value $0.01 per share |
| Preferred Stock | Vistra's Series A Preferred Stock and Series B Preferred Stock |
| Public Power | Public Power, LLC (d/b/a Public Power), an indirect, wholly owned subsidiary of Vistra, a REP in certain areas of PJM, ISO-NE, NYISO and MISO that is engaged in the retail sale of electricity to residential and business customers |
| PUCT | Public Utility Commission of Texas |
| PURA | Texas Public Utility Regulatory Act |
| REP | retail electric provider |
First 8 of 29 rows. The CSV has all of them.
| U.S. | United States of America |
| U.S. Gas & Electric | U.S. Gas and Electric, Inc. (d/b/a USG&E, Illinois Gas & Electric and ILG&E), an indirect, wholly owned subsidiary of Vistra, a REP in certain areas of PJM, ISO-NE, NYISO and MISO that is engaged in the retail sale of electricity to residential and business customers |
| Value Based Brands | Value Based Brands LLC (d/b/a 4Change Energy, Express Energy and Veteran Energy), an indirect, wholly owned subsidiary of Vistra that is a REP in competitive areas of ERCOT and is engaged in the retail sale of electricity to residential and business customers |
| Vistra | Vistra Corp., formerly known as TCEH Corp., and/or its subsidiaries, depending on context. On the Effective Date, the TCEH Debtors and the Contributed EFH Debtors emerged from Chapter 11 and became subsidiaries of Vistra Energy Corp. Effective July 2, 2020, Vistra Energy Corp. changed its name to Vistra Corp. |
| Vistra Intermediate | Vistra Intermediate Company LLC, a direct, wholly owned subsidiary of Vistra |
| Vistra Operations | Vistra Operations Company LLC, an indirect, wholly owned subsidiary of Vistra that is the issuer of certain series of notes (see Note 11 to the Financial Statements) and borrower under the Vistra Operations Credit Facilities |
| Vistra Operations Credit Facilities | Vistra Operations senior secured financing facilities (see Note 11 to the Financial Statements) |
| Vistra Zero | Vistra Zero LLC |
Table 7 after “Our Texas segment is comprised of 18 power generation facilities totaling 17,623 MW of generation capacity in ERCOT. We also operate a 10 MW”
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| ISO/RTO | Technology | Primary Fuel | Number of Facilities | Net Capacity (MW) |
| ERCOT | CCGT | Natural Gas | 7 | 7,838 |
| ERCOT | ST | Coal | 2 | 3,850 |
| ERCOT | CT or ST | Natural Gas | 7 | 3,455 |
| ERCOT | Nuclear | Nuclear | 1 | 2,300 |
| ERCOT | Solar/Battery | Renewable | 1 | 180 |
| Total Texas Segment | 18 | 17,623 | | |
Table 8 after “Our East segment is comprised of 21 power generation facilities in 10 states totaling 12,093 MW of generating capacity in PJM, ISO-NE and NY”
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| ISO/RTO | Technology | Primary Fuel | Number of Facilities | Net Capacity (MW) |
| PJM | CCGT | Natural Gas | 8 | 6,081 |
| PJM | CT | Natural Gas | 4 | 1,346 |
| PJM | CT | Fuel Oil | 2 | 93 |
| ISO-NE | CCGT | Natural Gas | 6 | 3,361 |
| NYISO | CCGT | Natural Gas | 1 | 1,212 |
| Total East Segment | 21 | 12,093 | | |
Table 9 after “Our West segment is comprised of two power generation facilities totaling 1,130 MW of generation capacity and the first two phases of a batt”
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| ISO/RTO | Technology | Primary Fuel | Number of Facilities | Net Capacity (MW) |
| CAISO | CCGT | Natural Gas | 1 | 1,020 |
| CAISO | Battery | Renewable | 1 | 400 |
| CAISO | CT | Fuel Oil | 1 | 110 |
| Total West Segment | 3 | 1,530 | | |
Table 10 after “Our Sunset segment is comprised of 10 power generation facilities totaling 7,486 MW of generating capacity in MISO, PJM and ERCOT. The Sunse”
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| ISO/RTO | Technology | Primary Fuel | Number of Facilities | Net Capacity (MW) |
| ERCOT | ST | Coal | 1 | 650 |
| MISO | ST | Coal | 4 | 3,187 |
| MISO | CT | Natural Gas | 2 | 221 |
| PJM | ST | Coal | 3 | 3,428 |
| Total Sunset Segment | 10 | 7,486 | | |
Table 11 after “Luminant's asset fleet consists of power generation and battery ESS units in six ISOs/RTOs, with the location, ISO/RTO, technology, primary ”
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| Facility | Location | ISO/RTO | Technology | Primary Fuel (a) | Net Capacity (MW) (b) | Ownership Interest (c) | |
| Ennis | Ennis, TX | ERCOT | CCGT | Natural Gas | 366 | | 100% |
| Forney | Forney, TX | ERCOT | CCGT | Natural Gas | 1,912 | | 100% |
| Hays | San Marcos, TX | ERCOT | CCGT | Natural Gas | 1,047 | | 100% |
| Lamar | Paris, TX | ERCOT | CCGT | Natural Gas | 1,076 | | 100% |
| Midlothian | Midlothian, TX | ERCOT | CCGT | Natural Gas | 1,596 | | 100% |
| Odessa | Odessa, TX | ERCOT | CCGT | Natural Gas | 1,054 | | 100% |
| Wise | Poolville, TX | ERCOT | CCGT | Natural Gas | 787 | | 100% |
First 8 of 22 rows. The CSV has all of them.
| Facility | Location | ISO/RTO | Technology | Primary Fuel (a) | Net Capacity (MW) (b) | Ownership Interest (c) | |
| Hopewell | Hopewell, VA | PJM | CCGT | Natural Gas | 370 | | 100% |
| Kendall | Minooka, IL | PJM | CCGT | Natural Gas | 1,288 | | 100% |
| Liberty | Eddystone, PA | PJM | CCGT | Natural Gas | 607 | | 100% |
| Ontelaunee | Reading, PA | PJM | CCGT | Natural Gas | 600 | | 100% |
| Sayreville | Sayreville, NJ | PJM | CCGT | Natural Gas | 349 | | 100% |
| Washington | Beverly, OH | PJM | CCGT | Natural Gas | 711 | | 100% |
| Calumet | Chicago, IL | PJM | CT | Natural Gas | 380 | | 100% |
First 8 of 37 rows. The CSV has all of them.
Table 13 after “The following table provides information about our repurchase of equity securities that are registered by us pursuant to Section 12 of the E”
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| Total Number of Shares Purchased | Average Price Paid per Share | | Total Number of Shares Purchased as Part of a Publicly Announced Program | Maximum Dollar Amount of Shares that may yet be Purchased under the Program (in millions) | |
| October 1 - October 31, 2021 | — | | $— | | — | $2,000 |
| November 1 - November 30, 2021 | 5,094,030 | | $20.22 | | 5,094,030 | $1,897 |
| December 1 - December 31, 2021 | 14,236,335 | | $21.50 | | 14,236,335 | $1,591 |
| For the quarter ended December 31, 2021 | 19,330,365 | | $21.16 | | 19,330,365 | $1,591 |
Table 14 after “— Reliability Pricing Model (RPM) auction results, for the zones in which our assets are located, are as follows for each planning year:”
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| 2021-2022 | 2022-2023 | |
| (average price per MW-day) | | |
| RTO zone | $140.00 | | $50.00 |
| ComEd zone | 195.55 | | 68.96 |
| MAAC zone | 140.00 | | 95.79 |
| EMAAC zone | 165.73 | | 97.86 |
| ATSI zone | 171.33 | | 50.00 |
| DEOK zone | 140.00 | | 71.69 |
Table 15 after “Our capacity sales in PJM, net of purchases, aggregated by planning year and capacity type through planning year 2022-2023, are as follows:”
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| 2021-2022 | 2022-2023 | | | | |
| East Segment | Sunset Segment | | East Segment | Sunset Segment | |
| CP auction capacity sold, net (MW) | 6,384 | | 3,028 | | 5,500 | 1,519 |
| Bilateral capacity sold, net (MW) | 200 | | 50 | | 200 | — |
| Total segment capacity sold, net (MW) | 6,584 | | 3,078 | | 5,700 | 1,519 |
| Average price per MW-day | $159.18 | | $148.83 | | $68.54 | $70.52 |
Table 16 after “Due to the short-term, seasonal nature of the NYISO capacity auctions, we monetize the majority of our capacity through bilateral trades. Ou”
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| East Segment | | | | | | | |
| Winter 2021 - 2022 | Summer 2022 | | Winter 2022 - 2023 | Summer 2023 | Winter 2023 - 2024 | | |
| Auction capacity sold (MW) | 125 | | — | | — | | — | — |
| Bilateral capacity sold (MW) | 1,017 | | 565 | | 212 | | 104 | 38 |
| Total capacity sold (MW) | 1,142 | | 565 | | 212 | | 104 | 38 |
| Average price per kW-month | $0.94 | | $2.18 | | $1.31 | | $1.76 | $1.78 |
Table 17 after “— The most recent Forward Capacity Auction results for ISO-NE Rest-of-Pool, in which most of our assets are located, are as follows for each”
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| 2021-2022 | 2022-2023 | | 2023-2024 | 2024-2025 | |
| Price per kW-month | $4.63 | | $3.80 | | $2.00 | $2.61 |
Table 18 after “Performance incentive rules increase capacity payments for those resources that are providing excess energy or reserves during a shortage ev”
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| East Segment | | | | | | | |
| 2021-2022 | 2022-2023 | | 2023-2024 | 2024-2025 | 2025-2026 | | |
| Auction capacity sold (MW) | 3,037 | | 2,996 | | 3,091 | | 2,967 | — |
| Bilateral capacity sold (MW) | 213 | | 95 | | 20 | | 78 | 78 |
| Total capacity sold (MW) | 3,250 | | 3,091 | | 3,111 | | 3,045 | 78 |
| Average price per kW-month | $4.35 | | $3.92 | | $2.12 | | $3.18 | $3.47 |
Table 19 after “MISO capacity sales through planning year 2024-2025 are as follows:”
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| Sunset Segment | | | | | |
| 2021-2022 | 2022-2023 | | 2023-2024 | 2024-2025 | |
| Bilateral capacity sold in MISO (MW) | 3,012 | | 1,075 | | 569 | 265 |
| Total MISO segment capacity sold (MW) | 3,012 | | 1,075 | | 569 | 265 |
| Average price per kW-month | $2.31 | | $1.94 | | $2.58 | $4.26 |
Table 20 after “— Our capacity sales in CAISO, aggregated by calendar year for 2022 through 2023 for Moss Landing, are as follows:”
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| West Segment | | |
| 2022 | 2023 | |
| Bilateral capacity sold (Avg MW) | 1,287 | | 1,275 |
Table 21 after “Estimated hedging levels for generation volumes in our Texas, East, West and Sunset segments as of December 31, 2021 were as follows:”
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| 2022 | 2023 | |
| Nuclear/Renewable/Coal Generation: | | | |
| Texas | 90% | | 55% |
| Sunset | 98% | | 47% |
| Gas Generation: | | | |
| Texas | 71% | | 8% |
| East | 94% | | 35% |
| West | 100% | | 6% |
Table 22 after “The following sensitivity table provides approximate estimates of the potential impact of movements in power prices and spark spreads (the d”
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| 2022 | 2023 | |
| Texas: | | | |
| Nuclear/Renewable/Coal Generation: $2.50/MWh increase in power price | $13 | | $53 |
| Nuclear/Renewable/Coal Generation: $2.50/MWh decrease in power price | $(11) | | $(50) |
| Gas Generation: $1.00/MWh increase in spark spread | $13 | | $39 |
| Gas Generation: $1.00/MWh decrease in spark spread | $(12) | | $(37) |
| Residual Natural Gas Position: $0.25/MMBtu increase in natural gas price | $(6) | | $(18) |
| Residual Natural Gas Position: $0.25/MMBtu decrease in natural gas price | $6 | | $10 |
First 8 of 21 rows. The CSV has all of them.
Table 23 after “Vistra Consolidated Financial Results — Year Ended December 31, 2021 Compared to Year Ended December 31, 2020”
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| Year Ended December 31, | Favorable (Unfavorable) $ Change | | |
| 2021 | 2020 | | |
| Operating revenues | $12,077 | | $11,443 | $634 |
| Fuel, purchased power costs and delivery fees | (9,169) | | (5,174) | (3,995) |
| Operating costs | (1,559) | | (1,622) | 63 |
| Depreciation and amortization | (1,753) | | (1,737) | (16) |
| Selling, general and administrative expenses | (1,040) | | (1,035) | (5) |
| Impairment of long-lived and other assets | (71) | | (356) | 285 |
First 8 of 17 rows. The CSV has all of them.
| Year Ended December 31, 2021 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Operating revenues | $7,871 | | $2,790 | | $2,587 | | $374 | | $739 | | $— | $(2,284) | $12,077 |
| Fuel, purchased power costs and delivery fees | (4,568) | | (3,991) | | (2,123) | | (253) | | (518) | | — | 2,284 | (9,169) |
| Operating costs | (127) | | (704) | | (243) | | (37) | | (417) | | (30) | (1) | (1,559) |
| Depreciation and amortization | (212) | | (608) | | (698) | | (60) | | (139) | | — | (36) | (1,753) |
| Selling, general and administrative expenses | (718) | | (88) | | (75) | | (32) | | (55) | | (26) | (46) | (1,040) |
| Impairment of long-lived and other assets | (33) | | — | | — | | — | | (38) | | — | — | (71) |
First 8 of 16 rows. The CSV has all of them.
| Year Ended December 31, 2020 | | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Operating revenues | $8,270 | | $4,116 | | $2,415 | | $282 | $1,252 | | | | $3 | $(4,895) | $11,443 |
| Fuel, purchased power costs and delivery fees | (6,857) | | (1,078) | | (1,262) | | (168) | (704) | | | | — | 4,895 | (5,174) |
| Operating costs | (123) | | (727) | | (270) | | (30) | (408) | | | | (63) | (1) | (1,622) |
| Depreciation and amortization | (303) | | (475) | | (721) | | (19) | (133) | | | | (22) | (64) | (1,737) |
| Selling, general and administrative expenses | (675) | | (75) | | (89) | | (26) | (71) | | | | (27) | (72) | (1,035) |
| Impairment of long-lived assets and other assets | — | | — | | — | | — | (356) | | | | — | — | (356) |
First 8 of 17 rows. The CSV has all of them.
Table 26 after “Adjusted EBITDA — Year Ended December 31, 2021 Compared to Year Ended December 31, 2020”
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| Year Ended December 31, | Favorable (Unfavorable) $ Change | | |
| 2021 | 2020 | | |
| Net income (loss) | $(1,264) | | $624 | $(1,888) |
| Income tax expense (benefit) | (458) | | 266 | (724) |
| Interest expense and related charges (a) | 384 | | 630 | (246) |
| Depreciation and amortization (b) | 1,831 | | 1,812 | 19 |
| EBITDA | 493 | | 3,332 | (2,839) |
| Unrealized net (gain) loss resulting from commodity hedging transactions | 759 | | (231) | 990 |
First 8 of 18 rows. The CSV has all of them.
| Year Ended December 31, 2021 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Net income (loss) | $2,196 | | $(2,512) | | $(567) | | $1 | | $(413) | | $(22) | $53 | $(1,264) |
| Income tax expense (benefit) | 2 | | — | | — | | — | | — | | — | (460) | (458) |
| Interest expense and related charges (a) | 9 | | (14) | | 15 | | (9) | | 2 | | 1 | 380 | 384 |
| Depreciation and amortization (b) | 212 | | 686 | | 698 | | 60 | | 139 | | — | 36 | 1,831 |
| EBITDA | 2,419 | | (1,840) | | 146 | | 52 | | (272) | | (21) | 9 | 493 |
| Unrealized net (gain) loss resulting from commodity hedging transactions | (1,403) | | 1,139 | | 655 | | 38 | | 330 | | — | — | 759 |
First 8 of 17 rows. The CSV has all of them.
| Year Ended December 31, 2020 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Net income (loss) | $309 | | $1,760 | | $41 | | $50 | | $(414) | | $(101) | $(1,021) | $624 |
| Income tax expense | — | | — | | — | | — | | — | | — | 266 | 266 |
| Interest expense and related charges (a) | 10 | | (8) | | 7 | | (10) | | 2 | | — | 629 | 630 |
| Depreciation and amortization (b) | 303 | | 550 | | 721 | | 19 | | 133 | | 22 | 64 | 1,812 |
| EBITDA | 622 | | 2,302 | | 769 | | 59 | | (279) | | (79) | (62) | 3,332 |
| Unrealized net (gain) loss resulting from commodity hedging transactions | 340 | | (691) | | 15 | | 10 | | 95 | | — | — | (231) |
First 8 of 17 rows. The CSV has all of them.
Table 29 after “Year Ended December 31, 2021 Compared to Year Ended December 31, 2020”
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| Year Ended December 31, | Favorable (Unfavorable) Change | | |
| 2021 | 2020 | | |
| Operating revenues: | | | | |
| Revenues in ERCOT | $5,943 | | $5,880 | $63 |
| Revenues in Northeast/Midwest | 2,255 | | 2,406 | (151) |
| Amortization expense | (2) | | (5) | 3 |
| Unrealized net losses on hedging activities (a) | (325) | | (11) | (314) |
| Total operating revenues | $7,871 | | $8,270 | $(399) |
First 8 of 25 rows. The CSV has all of them.
Table 30 after “The following table presents changes in net income (loss) and Adjusted EBITDA for the year ended December 31, 2021 compared to the year ende”
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| Year Ended December 31, 2021 Compared to 2020 |
| Winter Storm Uri, including securitization proceeds receivable from ERCOT and bill credits | $(75) |
| Monetization of certain commercial positions | 207 |
| Higher margins | 228 |
| Other driven by higher SG&A expense | (31) |
| Change in Adjusted EBITDA | $329 |
| Favorable impact of higher unrealized net gains on commodity hedging activities | 1,743 |
| Future bill credits and other costs related to Winter Storm Uri | (245) |
First 8 of 11 rows. The CSV has all of them.
Table 31 after “Year Ended December 31, 2021 Compared to Year Ended December 31, 2020”
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| Year Ended December 31, | | | | | | | | | | | | | |
| Texas | East | | West | Sunset | | | | | | | | | |
| 2021 | 2020 | | 2021 | 2020 | 2021 | | 2020 | 2021 | 2020 | | | | |
| Operating revenues: | | | | | | | | | | | | | | |
| Electricity sales | $1,999 | | $896 | | $1,619 | | $833 | | $410 | | $289 | | $819 | $883 |
| Capacity revenue from ISO/RTO | — | | — | | (22) | | (52) | | 1 | | — | | 184 | 164 |
| Sales to affiliates | 2,063 | | 2,543 | | 1,553 | | 1,655 | | 5 | | 3 | | 382 | 365 |
| Rolloff of unrealized net gains (losses) representing positions settled in the current period | (207) | | 2 | | (159) | | 159 | | 62 | | (22) | | 241 | (205) |
First 8 of 32 rows. The CSV has all of them.
| Year Ended December 31, | | | Year Ended December 31, | | | | | | |
| 2021 | | 2020 | | | 2021 | | 2020 | | |
| Market pricing | | | | | Average Market On-Peak Power Prices ($MWh) (b): | | | | | |
| Average ERCOT North power price ($/MWh) | $149.57 | | | $21.46 | | | PJM West Hub | $45.62 | | $24.55 |
| | AEP Dayton Hub | $44.88 | | | $24.49 | | | | |
| Average NYMEX Henry Hub natural gas price ($/MMBtu) | $3.82 | | | $1.99 | | | NYISO Zone C | $35.59 | | $19.37 |
| | Massachusetts Hub | $51.81 | | | $26.57 | | | | |
| Average natural gas price (a): | | | | | Indiana Hub | $48.62 | | | $26.77 | |
First 8 of 10 rows. The CSV has all of them.
Table 33 after “The following table presents changes in net income (loss) and Adjusted EBITDA for the year ended December 31, 2021 compared to the year ende”
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| Year Ended December 31, 2021 Compared to 2020 | | | | | |
| Texas | East | | West | Sunset | |
| Favorable/(unfavorable) change in revenue net of fuel | $(447) | | $(175) | | $34 | $(178) |
| Winter Storm Uri impact | (1,535) | | 50 | | — | 17 |
| Favorable/(unfavorable) change in other operating costs | 19 | | 8 | | (7) | (39) |
| Favorable/(unfavorable) change in selling, general and administrative expenses | — | | 10 | | (6) | 8 |
| Other (including other income and other deductions) (a) | 81 | | (5) | | (1) | 10 |
| Change in Adjusted EBITDA | $(1,882) | | $(112) | | $20 | $(182) |
First 8 of 17 rows. The CSV has all of them.
Table 34 after “Year Ended December 31, 2021 Compared to Year Ended December 31, 2020”
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| Year Ended December 31, | Favorable (Unfavorable) Change | | |
| 2021 | 2020 | | |
| Operating revenues | $— | | $3 | $(3) |
| Operating costs | (30) | | (63) | 33 |
| Depreciation and amortization | — | | (22) | 22 |
| Selling, general and administrative expenses | (26) | | (27) | 1 |
| Operating loss | (56) | | (109) | 53 |
| Other income | 35 | | 10 | 25 |
First 8 of 13 rows. The CSV has all of them.
Table 35 after “The table below summarizes the changes in commodity contract assets and liabilities for the years ended December 31, 2021 and 2020. The net ”
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| Year Ended December 31, | | |
| 2021 | 2020 | |
| Commodity contract net liability at beginning of period | $(75) | | $(279) |
| Settlements/termination of positions (a) | (295) | | (14) |
| Changes in fair value of positions in the portfolio (b) | (464) | | 245 |
| Other activity (c) | (32) | | (27) |
| Commodity contract net liability at end of period | $(866) | | $(75) |
Table 36 after “— The following table presents the net commodity contract liability arising from recognition of fair values at December 31, 2021, scheduled ”
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| Maturity dates of unrealized commodity contract net liability at December 31, 2021 | | | | | | | |
| Source of fair value | Less than 1 year | 1-3 years | | 4-5 years | Excess of 5 years | Total | | |
| Prices actively quoted | $(631) | | $(116) | | $2 | | $— | $(745) |
| Prices provided by other external sources | 352 | | (113) | | 1 | | (1) | 239 |
| Prices based on models | (72) | | (83) | | (108) | | (97) | (360) |
| Total | $(351) | | $(312) | | $(105) | | $(98) | $(866) |
Table 37 after “— Cash used in investing activities totaled $1.153 billion and $1.572 billion in the years ended December 31, 2021 and 2020, respectively. C”
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| Year Ended December 31, | | |
| 2021 | 2020 | |
| Capital expenditures, including LTSA prepayments | $549 | | $770 |
| Nuclear fuel purchases | 44 | | 88 |
| Growth and development expenditures | 440 | | 401 |
| Capital expenditures | 1,033 | | $1,259 |
Table 38 after “The following table summarizes changes in available liquidity for the year ended December 31, 2021:”
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| December 31, 2021 | December 31, 2020 | | Change | |
| Cash and cash equivalents | $1,325 | | $406 | | $919 |
| Vistra Operations Credit Facilities — Revolving Credit Facility | 1,254 | | 1,988 | | (734) |
| Vistra Operations — Alternate Letter of Credit Facility | — | | 5 | | (5) |
| Total available liquidity (a) | $2,579 | | $2,399 | | $180 |
Table 39 after “— This measurement estimates the potential loss in value, due to changes in market conditions, of all underlying generation assets and contr”
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| Year Ended December 31, | | |
| 2021 | 2020 | |
| Month-end average VaR | $424 | | $234 |
| Month-end high VaR | $684 | | $361 |
| Month-end low VaR | $222 | | $164 |
Table 40 after “The following table provides information concerning our financial instruments at December 31, 2021 and 2020 that are sensitive to changes in”
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| Expected Maturity Date | 2021 Total Carrying Amount | | 2021 Total Fair Value | 2020 Total Carrying Amount | 2020 Total Fair Value | | | | | | | | | |
| 2022 | 2023 | | 2024 | 2025 | 2026 | | There-after | | | | | | | |
| Long-term debt, including current maturities (a): | | | | | | | | | | | | | | | |
| Variable rate debt amount | $29 | | $28 | | $29 | | $2,457 | | $— | $— | $2,543 | $2,518 | | $2,572 | $2,565 |
| Average interest rate (b) | 1.85% | | 1.85% | | 1.85% | | 1.85% | | —% | —% | 1.85% | | 1.90% | | |
| Debt swapped to fixed (c): | | | | | | | | | | | | | | | |
| Notional amount | $— | | $2,300 | | $— | | $— | | $2,300 | $— | $4,600 | | $4,600 | | |
| Average pay rate | 3.77% | | 4.10% | | 4.75% | | 4.77% | | 4.77% | —% | | | | | |
First 8 of 9 rows. The CSV has all of them.
Table 41 after “Including collateral posted to us by counterparties, our net Texas, East and Sunset segments exposure was $1.390 billion, as seen in the fol”
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| Exposure Before Credit Collateral | Credit Collateral | | Net Exposure | |
| Investment grade | $947 | | $24 | | $923 |
| Below investment grade or no rating | 510 | | 43 | | 467 |
| Totals | $1,457 | | $67 | | $1,390 |
Table 42 after “(Millions of Dollars, Except Per Share Amounts)”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Operating revenues (Note 5) | $12,077 | | $11,443 | | $11,809 |
| Fuel, purchased power costs and delivery fees | (9,169) | | (5,174) | | (5,742) |
| Operating costs | (1,559) | | (1,622) | | (1,530) |
| Depreciation and amortization | (1,753) | | (1,737) | | (1,640) |
| Selling, general and administrative expenses | (1,040) | | (1,035) | | (904) |
| Impairment of long-lived and other assets | (71) | | (356) | | — |
First 8 of 25 rows. The CSV has all of them.
| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Net income (loss) | $(1,264) | | $624 | | $926 |
| Other comprehensive income (loss), net of tax effects: | | | | | |
| Effects related to pension and other retirement benefit obligations (net of tax expense (benefit) of $9, ($5) and ($4)) | 32 | | (18) | | (8) |
| Total other comprehensive income (loss) | 32 | | (18) | | (8) |
| Comprehensive income (loss) | (1,232) | | 606 | | 918 |
| Comprehensive income (loss) attributable to noncontrolling interest | (10) | | 12 | | 2 |
First 8 of 9 rows. The CSV has all of them.
| VISTRA CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS (Millions of Dollars) | | | | | |
| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Cash flows — operating activities: | | | | | |
| Net income (loss) | $(1,264) | | $624 | | $926 |
| Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | | | | | |
| Depreciation and amortization | 2,050 | | 2,048 | | 1,876 |
| Deferred income tax expense (benefit), net | (475) | | 230 | | 281 |
First 8 of 44 rows. The CSV has all of them.
| VISTRA CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS (Millions of Dollars) | | | | | |
| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Other, net | (4) | | (11) | | (6) |
| Cash used in investing activities | (1,153) | | (1,572) | | (1,717) |
| Cash flows — financing activities: | | | | | |
| Issuances of preferred stock | 2,000 | | — | | — |
| Issuances of long-term debt | 1,250 | | — | | 6,507 |
First 8 of 23 rows. The CSV has all of them.
| VISTRA CORP. CONSOLIDATED BALANCE SHEETS (Millions of Dollars) | | | |
| December 31, | | |
| 2021 | 2020 | |
| ASSETS | | | |
| Current assets: | | | |
| Cash and cash equivalents | $1,325 | | $406 |
| Restricted cash (Note 21) | 21 | | 19 |
| Trade accounts receivable — net (Note 21) | 1,397 | | 1,279 |
First 8 of 47 rows. The CSV has all of them.
| VISTRA CORP. CONSOLIDATED BALANCE SHEETS (Millions of Dollars) | | | |
| December 31, | | |
| 2021 | 2020 | |
| Commitments and Contingencies (Note 13) | | | |
| Total equity (Note 14): | | | |
| Preferred stock, number of shares authorized — 100,000,000; Series A (liquidation preference — $1,000; shares outstanding: December 31, 2021 — 1,000,000; December 31, 2020 — zero); Series B (liquidation preference — $1,000; shares outstanding: December 31, 2021 — 1,000,000; December 31, 2020 — zero) | 2,000 | | — |
| Common stock (par value — $0.01; number of shares authorized — 1,800,000,000)(shares outstanding: December 31, 2021 — 469,072,597; December 31, 2020 — 489,305,888) | 5 | | 5 |
| Treasury stock, at cost (shares: December 31, 2021 — 63,856,879; December 31, 2020 — 41,043,224) | (1,558) | | (973) |
First 8 of 15 rows. The CSV has all of them.
| VISTRA CORP.CONSOLIDATED STATEMENT OF CHANGES IN EQUITY(Millions of Dollars) | | | | | | | | | | | | | | | | | | | |
| Preferred Stock | Common Stock | | Treasury Stock | Additional Paid-In Capital | | Retained Deficit | | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity | | Noncontrolling Interest in Subsidiary | | Total Equity | | | | | |
| Balances at December 31, 2018 | $— | | $5 | | $(778) | | | $10,107 | | $(1,449) | | | $(22) | | | $7,863 | | $4 | $7,867 |
| Stock repurchases | — | | — | | (641) | | | — | | — | | | — | | | (641) | | — | (641) |
| Shares issued for tangible equity unit contracts | — | | — | | 446 | | | (446) | | — | | | — | | | — | | — | — |
| Effects of stock-based compensation | — | | — | | — | | | 62 | | — | | | — | | | 62 | | — | 62 |
| Net loss | — | | — | | — | | | — | | 928 | | | — | | | 928 | | (2) | 926 |
| Dividends declared on common stock | — | | — | | — | | | — | | (243) | | | — | | | (243) | | — | (243) |
First 8 of 28 rows. The CSV has all of them.
| VISTRA CORP.CONSOLIDATED STATEMENT OF CHANGES IN EQUITY(Millions of Dollars) | | | | | | | | | | | | | | | |
| Preferred Stock | Common Stock | | Treasury Stock | Additional Paid-In Capital | Retained Deficit | | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity | Noncontrolling Interest in Subsidiary | | Total Equity | | | |
| Other | — | | — | | — | | 3 | | (1) | | — | | 2 | — | 2 |
| Balances at December 31, 2021 | $2,000 | | $5 | | $(1,558) | | $9,824 | | $(1,964) | | $(16) | | $8,291 | $1 | $8,292 |
Table 50 after “million. The final purchase price allocations were completed in the second quarter of 2020 for the Crius Transaction and the third quarter o”
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| Ambit Transaction and Crius Transactions Final Purchase Price Allocations | | | | | | |
| Ambit Transaction | Crius Transaction | | | | |
| Final Purchase Price Allocation | Measurement Period Adjustments recorded | | Final Purchase Price Allocation | Measurement Period Adjustments recorded | |
| Cash and cash equivalents | $49 | | $— | | $26 | $— |
| Net working capital | 32 | | 3 | | (9) | (42) |
| Accumulated deferred income taxes | — | | — | | — | (36) |
| Identifiable intangible assets | 218 | | (45) | | 317 | 23 |
| Goodwill | 258 | | 44 | | 243 | 38 |
First 8 of 18 rows. The CSV has all of them.
Table 51 after “— The following unaudited consolidated pro forma financial information for the year ended December 31, 2019 assumes that the Ambit and Crius”
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| Ambit Transaction | Crius Transaction | |
| Year Ended December 31, 2019 | Year Ended December 31, 2019 | |
| Revenues | $12,931 | | $12,373 |
| Net income (a) | $949 | | $876 |
| Net income attributable to Vistra | $951 | | $878 |
| Net income attributable to Vistra per weighted average share of common stock outstanding — basic | $1.92 | | $1.78 |
| Net income attributable to Vistra per weighted average share of common stock outstanding — diluted | $1.90 | | $1.76 |
Table 52 after “Operational results for plants with defined retirement dates identified below are included in our Sunset segment beginning in the quarter wh”
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| Name | Location | ISO/RTO | Fuel Type | Net Generation Capacity (MW) | Expected Retirement Date (a) |
| Baldwin | Baldwin, IL | MISO | Coal | 1,185 | By the end of 2025 |
| Coleto Creek | Goliad, TX | ERCOT | Coal | 650 | By the end of 2027 |
| Edwards | Bartonville, IL | MISO | Coal | 585 | By the end of 2022 |
| Joppa | Joppa, IL | MISO | Coal | 802 | By September 1, 2022 |
| Joppa | Joppa, IL | MISO | Natural Gas | 221 | By September 1, 2022 |
| Kincaid | Kincaid, IL | PJM | Coal | 1,108 | By the end of 2027 |
| Miami Fort | North Bend, OH | PJM | Coal | 1,020 | By the end of 2027 |
First 8 of 11 rows. The CSV has all of them.
Table 53 after “Operational results for the Illinois plants retired in 2019 identified below are included in the Asset Closure segment. The Asset Closure se”
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| Name | Location | ISO/RTO | Fuel Type | Net Generation Capacity (MW) | Dates Units Retired | |
| Coffeen | Coffeen, IL | MISO | Coal | 915 | | November 1, 2019 |
| Duck Creek | Canton, IL | MISO | Coal | 425 | | December 15, 2019 |
| Havana | Havana, IL | MISO | Coal | 434 | | November 1, 2019 |
| Hennepin | Hennepin, IL | MISO | Coal | 294 | | November 1, 2019 |
| Total | | | | 2,068 | | |
Table 54 after “The following tables disaggregate our revenue by major source:”
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| Year Ended December 31, 2021 | | | | | | | | | | | | |
| Retail | | Texas | East | West | | Sunset | Asset Closure | Eliminations | | Consolidated | | | |
| Revenue from contracts with customers: | | | | | | | | | | | | | |
| Retail energy charge in ERCOT | $5,733 | | $— | | $— | | $— | | $— | | $— | $— | $5,733 |
| Retail energy charge in Northeast/Midwest | 2,255 | | — | | — | | — | | — | | — | — | 2,255 |
| Wholesale generation revenue from ISO/RTO | — | | 3,808 | | 786 | | 229 | | 1,525 | | — | — | 6,348 |
| Capacity revenue from ISO/RTO (a) | — | | — | | (22) | | 1 | | 184 | | — | — | 163 |
| Revenue from other wholesale contracts | — | | 2,302 | | 602 | | 104 | | 193 | | — | — | 3,201 |
First 8 of 15 rows. The CSV has all of them.
| Year Ended December 31, 2020 | | | | | | | | | | | | |
| Retail | | Texas | East | West | | Sunset | Asset Closure | Eliminations | | Consolidated | | | |
| Revenue from contracts with customers: | | | | | | | | | | | | | |
| Retail energy charge in ERCOT | $5,813 | | $— | | $— | | $— | | $— | | $— | $— | $5,813 |
| Retail energy charge in Northeast/Midwest | 2,406 | | — | | — | | — | | — | | — | — | 2,406 |
| Wholesale generation revenue from ISO/RTO | — | | 475 | | 310 | | 124 | | 473 | | 1 | — | 1,383 |
| Capacity revenue from ISO/RTO (a) | — | | — | | (52) | | — | | 164 | | — | — | 112 |
| Revenue from other wholesale contracts | — | | 226 | | 668 | | 54 | | 187 | | 1 | — | 1,136 |
First 8 of 15 rows. The CSV has all of them.
Table 56 after “million of unrealized net gains from mark-to-market valuations of commodity positions. See Note 20 for unrealized net gains (losses) by segm”
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| Year Ended December 31, 2019 | | | | | | | | | | | | |
| Retail | | Texas | East | West | | Sunset | Asset Closure | Eliminations | | Consolidated | | | |
| Revenue from contracts with customers: | | | | | | | | | | | | | |
| Retail energy charge in ERCOT | $4,983 | | $— | | $— | | $— | | $— | | $— | $— | $4,983 |
| Retail energy charge in Northeast/Midwest | 1,818 | | — | | — | | — | | — | | — | — | 1,818 |
| Wholesale generation revenue from ISO/RTO | — | | 1,477 | | 629 | | 193 | | 751 | | 194 | — | 3,244 |
| Capacity revenue from ISO/RTO (a) | — | | — | | 170 | | — | | 197 | | 11 | — | 378 |
| Revenue from other wholesale contracts | — | | 264 | | 702 | | 9 | | 147 | | 2 | — | 1,124 |
First 8 of 15 rows. The CSV has all of them.
Table 57 after “The following table presents trade accounts receivable (net of allowance for uncollectible accounts) relating to both contracts with custome”
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| December 31, | | |
| 2021 | 2020 | |
| Trade accounts receivable from contracts with customers — net | $1,087 | | $1,169 |
| Other trade accounts receivable — net | 310 | | 110 |
| Total trade accounts receivable — net | $1,397 | | $1,279 |
Table 58 after “The following table provides information regarding our goodwill balance.”
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| Balance at December 31, 2018 | $2,068 |
| Measurement period adjustments recorded in connection with the Merger | 14 |
| Goodwill recorded in connection with the Crius Transaction | 257 |
| Goodwill recorded in connection with the Ambit Transaction | 214 |
| Balance at December 31, 2019 | 2,553 |
| Measurement period adjustments recorded in connection with the Crius Transaction | (14) |
| Measurement period adjustments recorded in connection with the Ambit Transaction | 44 |
| Balance at December 31, 2021 and 2020 | $2,583 |
Table 59 after “Identifiable intangible assets are comprised of the following:”
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| December 31, 2021 | December 31, 2020 | | | | | | | | | |
| Identifiable Intangible Asset | Gross Carrying Amount | Accumulated Amortization | | Net | Gross Carrying Amount | Accumulated Amortization | | Net | | | |
| Retail customer relationship | $2,083 | | $1,631 | | $452 | | $2,082 | | | $1,434 | $648 |
| Software and other technology-related assets | 421 | | 206 | | 215 | | 414 | | | 186 | 228 |
| Retail and wholesale contracts | 248 | | 206 | | 42 | | 272 | | | 204 | 68 |
| Contractual service agreements (a) | 23 | | 2 | | 21 | | 51 | | | 1 | 50 |
| Other identifiable intangible assets (b) | 95 | | 20 | | 75 | | 96 | | | 19 | 77 |
| Total identifiable intangible assets subject to amortization | $2,870 | | $2,065 | | 805 | | $2,915 | | | $1,844 | 1,071 |
First 8 of 11 rows. The CSV has all of them.
Table 60 after “Identifiable intangible liabilities are comprised of the following:”
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| Year Ended December 31, | | |
| Identifiable Intangible Liability | 2021 | 2020 | |
| Contractual service agreements | $125 | | $129 |
| Purchase and sale of power and capacity | 8 | | 87 |
| Fuel and transportation purchase contracts | 14 | | 73 |
| Total identifiable intangible liabilities | $147 | | $289 |
Table 61 after “Expense related to finite-lived identifiable intangible assets and liabilities (including the classification in the consolidated statements ”
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| Identifiable Intangible Assets and Liabilities | Consolidated Statements of Operations | | Remaining useful lives of identifiable intangible assets at December 31, 2021 (weighted average in years) | | Year Ended December 31, | | | | |
| | 2021 | | 2020 | | 2019 | | | |
| Retail customer relationship | Depreciation and amortization | | 3 | | $197 | | $283 | | $275 |
| Software and other technology-related assets | Depreciation and amortization | | 4 | | 74 | | 73 | | 61 |
| Retail and wholesale contracts/purchase and sale/fuel and transportation contracts | Operating revenues/fuel, purchased power costs and delivery fees | | 3 | | (56) | | 17 | | 23 |
| Other identifiable intangible assets | Operating revenues/fuel, purchased power costs and delivery fees/depreciation and amortization | | 5 | | 279 | | 223 | | 148 |
| Total intangible asset expense (a) | | | $494 | | | $596 | | $507 | |
Table 62 after “As of December 31, 2021, the estimated aggregate amortization expense of identifiable intangible assets and liabilities for each of the next”
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| Year | Estimated Amortization Expense |
| 2022 | $202 |
| 2023 | $148 |
| 2024 | $99 |
| 2025 | $73 |
| 2026 | $49 |
Table 63 after “The components of our income tax expense (benefit) are as follows:”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Current: | | | | | |
| U.S. Federal | $1 | | $(5) | | $(1) |
| State | 16 | | 41 | | 10 |
| Total current | 17 | | 36 | | 9 |
| Deferred: | | | | | |
| U.S. Federal | (336) | | 171 | | 260 |
First 8 of 11 rows. The CSV has all of them.
Table 64 after “Reconciliation of income taxes computed at the U.S. federal statutory rate to income tax expense (benefit) recorded:”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Income (loss) before income taxes | $(1,722) | | $890 | | $1,216 |
| U.S. federal statutory rate | 21% | | 21% | | 21% |
| Income taxes at the U.S. federal statutory rate | (362) | | 187 | | 255 |
| Nondeductible TRA accretion | (8) | | (7) | | 5 |
| State tax, net of federal benefit | (2) | | 32 | | 48 |
| Federal and State return to provision adjustment | (2) | | 13 | | (17) |
First 8 of 17 rows. The CSV has all of them.
Table 65 after “Deferred income taxes provided for temporary differences based on tax laws in effect at December 31, 2021 and 2020 are as follows:”
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| December 31, | | |
| 2021 | 2020 | |
| Noncurrent Deferred Income Tax Assets | | | |
| Tax credit carryforwards | $76 | | $75 |
| Loss carryforwards | 1,193 | | 953 |
| Identifiable intangible assets | 346 | | 293 |
| Long-term debt | 15 | | 19 |
| Employee benefit obligations | 121 | | 129 |
First 8 of 16 rows. The CSV has all of them.
Table 66 after “The following table summarizes the changes to the uncertain tax positions, reported in accumulated deferred income taxes and other current l”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Balance at beginning of period, excluding interest and penalties | $39 | | $126 | | $39 |
| Additions based on tax positions related to prior years | 1 | | 3 | | 3 |
| Reductions based on tax positions related to prior years | — | | (90) | | — |
| Additions based on tax positions related to the current year | — | | — | | 87 |
| Settlements with taxing authorities | (2) | | — | | (3) |
| Balance at end of period, excluding interest and penalties | $38 | | $39 | | $126 |
Table 67 after “The following table summarizes the changes to the TRA obligation, reported as other current liabilities and Tax Receivable Agreement obligat”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| TRA obligation at the beginning of the period | $450 | | $455 | | $420 |
| Accretion expense | 62 | | 64 | | 59 |
| Changes in tax assumptions impacting timing of payments (a) | (115) | | (69) | | (22) |
| Impacts of Tax Receivable Agreement | (53) | | (5) | | 37 |
| Payments | (2) | | — | | (2) |
| TRA obligation at the end of the period | 395 | | 450 | | 455 |
First 8 of 10 rows. The CSV has all of them.
Table 68 after “Basic earnings per share available to common stockholders are based on the weighted average number of common shares outstanding during the p”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Net income (loss) attributable to Vistra | $(1,274) | | $636 | | $928 |
| Less cumulative dividends attributable to Series A Preferred Stock | (17) | | — | | — |
| Less cumulative dividends attributable to Series B Preferred Stock | (4) | | — | | — |
| Net income (loss) attributable to common stock — basic | (1,295) | | 636 | | 928 |
| Weighted average shares of common stock outstanding — basic | 482,214,544 | | 488,668,263 | | 494,146,268 |
| Net income (loss) per weighted average share of common stock outstanding — basic | $(2.69) | | $1.30 | | $1.88 |
First 8 of 11 rows. The CSV has all of them.
Table 69 after “Amounts in the table below represent the categories of long-term debt obligations incurred by the Company.”
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| December 31, | | |
| 2021 | 2020 | |
| Vistra Operations Credit Facilities | $2,543 | | $2,572 |
| Vistra Operations Senior Secured Notes: | | | |
| 3.550% Senior Secured Notes, due July 15, 2024 | 1,500 | | 1,500 |
| 3.700% Senior Secured Notes, due January 30, 2027 | 800 | | 800 |
| 4.300% Senior Secured Notes, due July 15, 2029 | 800 | | 800 |
| Total Vistra Operations Senior Secured Notes | 3,100 | | 3,100 |
First 8 of 24 rows. The CSV has all of them.
Table 70 after “The Vistra Operations Credit Facilities and related available capacity at December 31, 2021 are presented below.”
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| | December 31, 2021 | | | | | | |
| Vistra Operations Credit Facilities | Maturity Date | Facility Limit | Cash Borrowings | | Letters of Credit Outstanding | Available Capacity | | |
| Revolving Credit Facility (a) | June 14, 2023 | $2,725 | | $— | | $1,471 | | $1,254 |
| Term Loan B-3 Facility (b) | December 31, 2025 | 2,543 | | 2,543 | | | — | |
| Total Vistra Operations Credit Facilities | | $5,268 | | $2,543 | | $1,471 | | $1,254 |
Table 71 after “— Vistra employs interest rate swaps to hedge our exposure to variable rate debt. As of December 31, 2021, Vistra has entered into the follo”
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| Notional Amount | Expiration Date | Rate Range | | |
| Swapped to fixed | $3,000 | July 2023 | 3.67% | - | 3.91% |
| Swapped to variable | $700 | July 2023 | 3.20% | - | 3.23% |
| Swapped to fixed (a) | $720 | February 2024 | 3.71% | - | 3.72% |
| Swapped to variable | $720 | February 2024 | 3.20% | - | 3.20% |
| Swapped to fixed (b) | $3,000 | July 2026 | 4.72% | - | 4.79% |
| Swapped to variable (b) | $700 | July 2026 | 3.28% | - | 3.33% |
Table 72 after “billion aggregate principal amount of senior secured notes (June 2019 Senior Secured Notes and the November 2019 Senior Secured Notes) in of”
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| Senior Secured Notes | Maturity Year | Interest Terms (Due Semiannually in Arrears) | June 2019 Senior Secured Notes Offering (a) | November 2019 Senior Secured Notes Offering (b) | |
| 3.550% Senior Secured Notes | 2024 | January 15 and July 15 | $1,200 | | $300 |
| 3.700% Senior Secured Notes | 2027 | January 30 and July 30 | — | | 800 |
| 4.300% Senior Secured Notes | 2029 | January 15 and July 15 | 800 | | — |
| Total senior secured notes | | | $2,000 | | $1,100 |
| Net proceeds | | | $1,976 | | $1,099 |
| Debt issuance and other fees (c) | | | $20 | | $10 |
Table 73 after “In 2019 and 2021, Vistra Operations issued and sold $3.9 billion aggregate principal amount of senior unsecured notes in offerings (the Febr”
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| Senior Unsecured Notes | Maturity Year | Interest Terms (Due Semiannually in Arrears) | February 2019 Senior Unsecured Notes Offering (a) | June 2019 Senior Unsecured Notes Offering (b) | | May 2021 Senior Unsecured Notes Offering (c) | |
| 5.625% Senior Unsecured Notes | 2027 | February 15 and August 15 | 1,300 | | — | | — |
| 5.000% Senior Unsecured Notes | 2027 | January 31 and July 31 | — | | 1,300 | | — |
| 4.375% Senior Unsecured Notes | 2029 | May 1 and November 1 | — | | — | | 1,250 |
| Total | | | $1,300 | | $1,300 | | $1,250 |
| Net Proceeds | | | $1,287 | | $1,287 | | $1,235 |
| Debt issuance and other fees (d) | | | $16 | | $13 | | $15 |
Table 74 after “outstanding senior notes at the Parent level as of December 31, 2021 and 2020.”
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| Vistra Senior Unsecured Notes | Maturity Year | February 2019 Tender Offer (a) | June 2019 Tender Offer (b) | | 2019 Redemptions (c) | 2020 Redemptions (d) | |
| 6.750%Senior Unsecured Notes | 2019 | $— | | $— | | $— | $— |
| 7.375% Senior Unsecured Notes | 2022 | 1,193 | | 173 | | 341 | — |
| 5.875% Senior Unsecured Notes | 2023 | — | | — | | — | 500 |
| 7.625% Senior Unsecured Notes | 2024 | — | | 672 | | 475 | — |
| 8.034% Senior Unsecured Notes | 2024 | — | | — | | 25 | — |
| 8.000% Senior Unsecured Notes | 2025 | — | | — | | — | 81 |
| 8.125%Senior Unsecured Notes | 2026 | — | | — | | — | 166 |
First 8 of 10 rows. The CSV has all of them.
Table 75 after “Long-term debt maturities at December 31, 2021 are as follows:”
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| December 31, 2021 |
| 2022 | $258 |
| 2023 | 40 |
| 2024 | 1,540 |
| 2025 | 2,470 |
| 2026 | 1,006 |
| Thereafter | 5,490 |
| Unamortized premiums, discounts and debt issuance costs | (73) |
First 8 of 9 rows. The CSV has all of them.
Table 76 after “The following table presents costs related to lease activities:”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Operating lease cost | $11 | | $14 | | $14 |
| Finance lease: | | | | | |
| Finance lease right-of-use asset amortization | 9 | | 7 | | 4 |
| Interest on lease liabilities | 10 | | 7 | | 4 |
| Total finance lease cost | 19 | | 14 | | 8 |
| Variable lease cost (a) | 29 | | 29 | | 26 |
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Table 77 after “The following table presents lease related balance sheet information:”
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| December 31, | | |
| 2021 | 2020 | |
| Lease assets: | | | |
| Operating lease right-of-use assets | $40 | | $45 |
| Finance lease right-of-use assets (net of accumulated depreciation) | 173 | | $182 |
| Total lease right-of-use assets | 213 | | 227 |
| Current lease liabilities: | | | |
| Operating lease liabilities | 5 | | 8 |
First 8 of 15 rows. The CSV has all of them.
Table 78 after “The following table presents lease related cash flows and other information:”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Cash paid for amounts included in the measurement of lease liabilities: | | | | | |
| Operating cash flows from operating leases | $11 | | $17 | | $17 |
| Operating cash flows from finance leases | 9 | | 5 | | 4 |
| Finance cash flows from finance leases | 5 | | 10 | | 4 |
| Non-cash disclosure upon commencement of new lease: | | | | | |
| Right-of-use assets obtained in exchange for new operating lease liabilities | 7 | | 14 | | 95 |
First 8 of 12 rows. The CSV has all of them.
Table 79 after “The following table presents weighted average remaining lease term information:”
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| December 31, | |
| 2021 | 2020 |
| Weighted average remaining lease term: | | |
| Operating lease | 17.6 years | 12.3 years |
| Finance lease | 25.0 years | 24.2 years |
| Weighted average discount rate: | | |
| Operating lease | 5.76% | 5.80% |
| Finance lease | 4.95% | 4.92% |
Table 80 after “The following table presents maturity of lease liabilities:”
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| Operating Lease | Finance Lease | | Total Lease | |
| 2022 | $6 | | $17 | | $23 |
| 2023 | 7 | | 16 | | 23 |
| 2024 | 4 | | 17 | | 21 |
| 2025 | 3 | | 17 | | 20 |
| 2026 | 3 | | 14 | | 17 |
| Thereafter | 51 | | 369 | | 420 |
| Total lease payments | 74 | | 450 | | 524 |
First 8 of 10 rows. The CSV has all of them.
Table 81 after “As of December 31, 2021, we had minimum contractual commitments under long-term service and maintenance contracts, energy-related contracts,”
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| Long-Term Service and Maintenance Contracts (a) | Coal transportation agreements | | Pipeline transportation and storage reservation fees | | Water Contracts | |
| 2022 | $202 | | $104 | | $86 | | $9 |
| 2023 | 268 | | 22 | | 54 | | 9 |
| 2024 | 236 | | 24 | | 40 | | 9 |
| 2025 | 207 | | 25 | | 36 | | 9 |
| 2026 | 196 | | 26 | | 23 | | 9 |
| Thereafter | 2,130 | | 27 | | 91 | | 58 |
| Total | $3,239 | | $228 | | $330 | | $103 |
Table 82 after “Changes in the number of shares of common stock issued and outstanding for the years ended December 31, 2021, 2020 and 2019 are reflected in”
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| Shares Issued | Treasury Shares | | Shares Outstanding | |
| Balance at December 31, 2018 | 526,031,092 | | (32,815,783) | | 493,215,309 |
| Shares issued (a) (b) | 2,716,349 | | 18,773,958 | | 21,490,307 |
| Shares retired | (6,106) | | — | | (6,106) |
| Shares repurchased | — | | (27,001,399) | | (27,001,399) |
| Balance at December 31, 2019 | 528,741,335 | | (41,043,224) | | 487,698,111 |
| Shares issued (a) | 1,611,462 | | — | | 1,611,462 |
| Shares retired | (3,685) | | — | | (3,685) |
First 8 of 13 rows. The CSV has all of them.
Table 83 after “Assets and liabilities measured at fair value on a recurring basis consisted of the following at the respective balance sheet dates shown be”
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| December 31, 2021 | December 31, 2020 | | | | | | | | | | | | | | | |
| Level 1 | Level 2 | | Level 3 (a) | Reclass (b) | Total | | Level 1 | Level 2 | Level 3 (a) | | Reclass (b) | Total | | | | |
| Assets: | | | | | | | | | | | | | | | | | |
| Commodity contracts | $1,408 | | $889 | | $442 | | $5 | | $2,744 | | $452 | | $201 | | $205 | $76 | $934 |
| Interest rate swaps | — | | 19 | | — | | — | | 19 | | — | | 72 | | — | — | 72 |
| Nuclear decommissioning trust – equity securities (c) | 724 | | — | | — | | — | | 724 | | 623 | | — | | — | — | 623 |
| Nuclear decommissioning trust – debt securities (c) | — | | 679 | | — | | — | | 679 | | — | | 618 | | — | — | 618 |
| Sub-total | $2,132 | | $1,587 | | $442 | | $5 | | 4,166 | | $1,075 | | $891 | | $205 | $76 | 2,247 |
First 8 of 15 rows. The CSV has all of them.
Table 84 after “The following tables present the fair value of the Level 3 assets and liabilities by major contract type and the significant unobservable in”
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| December 31, 2021 | | | | | | | | | | | | | | | | |
| Fair Value | | | | | | | | | | | | | | | |
| Contract Type (a) | Assets | Liabilities | | Total | Valuation Technique | | Significant Unobservable Input | | Range (b) | | Average (b) | | | | | |
| Electricity purchases and sales | $204 | | $(470) | | $(266) | | | Income Approach | | Hourly price curve shape (c) | | $— | | to | $60 | $30 |
| | | | | | MWh | | | | | | | | | | |
| | | | | | | Illiquid delivery periods for hub power prices and heat rates (d) | | $20 | | to | $140 | | | $80 | |
| | | | | | | | MWh | | | | | | | | |
| Options | 1 | | (209) | | (208) | | | Option Pricing Model | | Gas to power correlation (e) | | 10% | | to | 100% | 56% |
First 8 of 17 rows. The CSV has all of them.
Table 85 after “The following tables present the fair value of the Level 3 assets and liabilities by major contract type and the significant unobservable in”
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| December 31, 2020 | | | | | | | | | | | | | | | | |
| Fair Value | | | | | | | | | | | | | | | |
| Contract Type (a) | Assets | Liabilities | | Total | Valuation Technique | | Significant Unobservable Input | | Range (b) | | Average (b) | | | | | |
| Electricity purchases and sales | $61 | | $(90) | | $(29) | | | Income Approach | | Hourly price curve shape (c) | | $— | | to | $85 | $43 |
| | | | | | MWh | | | | | | | | | | |
| | | | | | | Illiquid delivery periods for hub power prices and heat rates (d) | | $25 | | to | $125 | | | $75 | |
| | | | | | | | MWh | | | | | | | | |
| Options | 38 | | (56) | | (18) | | | Option Pricing Model | | Gas to power correlation (e) | | 30% | | to | 100% | 64% |
First 8 of 17 rows. The CSV has all of them.
Table 86 after “The following table presents the changes in fair value of the Level 3 assets and liabilities for the years ended December 31, 2021, 2020 and”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Net asset (liability) balance at beginning of period | $22 | | $(74) | | $(135) |
| Total unrealized valuation gains (losses) (a) | (53) | | (5) | | 8 |
| Purchases, issuances and settlements (b): | | | | | |
| Purchases | 114 | | 164 | | 176 |
| Issuances | (36) | | (28) | | (81) |
| Settlements | (314) | | (90) | | (64) |
First 8 of 13 rows. The CSV has all of them.
Table 87 after “million was recognized in operating revenues due to the third quarter 2021 discontinuance of normal purchase and sale accounting on a retail”
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| December 31, 2021 | | | | | | | |
| Derivative Assets | Derivative Liabilities | | | | | | |
| Commodity Contracts | Interest Rate Swaps | | Commodity Contracts | Interest Rate Swaps | Total | | |
| Current assets | $2,496 | | $14 | | $3 | | $— | $2,513 |
| Noncurrent assets | 244 | | 5 | | 1 | | — | 250 |
| Current liabilities | — | | — | | (2,964) | | (59) | (3,023) |
| Noncurrent liabilities | (1) | | — | | (645) | | (158) | (804) |
| Net assets (liabilities) | $2,739 | | $19 | | $(3,605) | | $(217) | $(1,064) |
Table 88 after “million was recognized in operating revenues due to the third quarter 2021 discontinuance of normal purchase and sale accounting on a retail”
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| December 31, 2020 | | | | | | | |
| Derivative Assets | Derivative Liabilities | | | | | | |
| Commodity Contracts | Interest Rate Swaps | | Commodity Contracts | Interest Rate Swaps | Total | | |
| Current assets | $665 | | $19 | | $64 | | $— | $748 |
| Noncurrent assets | 197 | | 53 | | 8 | | — | 258 |
| Current liabilities | (1) | | — | | (717) | | (71) | (789) |
| Noncurrent liabilities | (3) | | — | | (288) | | (333) | (624) |
| Net assets (liabilities) | $858 | | $72 | | $(933) | | $(404) | $(407) |
Table 89 after “The following table presents the pre-tax effect of derivative gains (losses) on net income, including realized and unrealized effects. Amoun”
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| Year Ended December 31, | | | | |
| Derivative (consolidated statements of operations presentation) | 2021 | 2020 | | 2019 | |
| Commodity contracts (Operating revenues) | $(1,196) | | $241 | | $339 |
| Commodity contracts (Fuel, purchased power costs and delivery fees) | 732 | | 4 | | (1) |
| Interest rate swaps (Interest expense and related charges) | 81 | | (196) | | (217) |
| Net gain (loss) | $(383) | | $49 | | $121 |
Table 90 after “The following tables reconcile our derivative assets and liabilities on a contract basis to net amounts after taking into consideration nett”
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| December 31, 2021 | December 31, 2020 | | | | | | | | | | | |
| Derivative Assets and Liabilities | Offsetting Instruments (a) | | Cash Collateral (Received) Pledged (b) | Net Amounts | Derivative Assets and Liabilities | | Offsetting Instruments (a) | Cash Collateral (Received) Pledged (b) | Net Amounts | | | |
| Derivative assets: | | | | | | | | | | | | | |
| Commodity contracts | $2,739 | | $(2,051) | | $(27) | | $661 | | $858 | | $(667) | $(11) | $180 |
| Interest rate swaps | 19 | | (19) | | — | | — | | 72 | | (72) | — | — |
| Total derivative assets | 2,758 | | (2,070) | | (27) | | 661 | | 930 | | (739) | (11) | 180 |
| Derivative liabilities: | | | | | | | | | | | | | |
| Commodity contracts | (3,605) | | 2,051 | | 784 | | (770) | | (933) | | 667 | 138 | (128) |
First 8 of 11 rows. The CSV has all of them.
Table 91 after “The following table presents the gross notional amounts of derivative volumes at December 31, 2021 and 2020:”
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| December 31, 2021 | December 31, 2020 | | |
| Derivative type | Notional Volume | Unit of Measure | | |
| Natural gas (a) | 4,701 | | 5,264 | Million MMBtu |
| Electricity | 440,236 | | 438,863 | GWh |
| Financial transmission rights (b) | 224,876 | | 217,350 | GWh |
| Coal | 25 | | 20 | Million U.S. tons |
| Fuel oil | 87 | | 176 | Million gallons |
| Emissions | 18 | | 8 | Million tons |
First 8 of 11 rows. The CSV has all of them.
Table 92 after “The following table presents the commodity derivative liabilities subject to credit risk-related contingent features that are not fully coll”
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| December 31, | | |
| 2021 | 2020 | |
| Fair value of derivative contract liabilities (a) | $(1,200) | | $(679) |
| Offsetting fair value under netting arrangements (b) | 660 | | 262 |
| Cash collateral and letters of credit | 95 | | 35 |
| Liquidity exposure | $(445) | | $(382) |
| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Pension costs | $6 | | $11 | | $9 |
| OPEB costs | 8 | | 7 | | 11 |
| Total benefit costs recognized as expense | $14 | | $18 | | $20 |
Table 94 after “The following information is based on a December 31, 2021, 2020 and 2019 measurement dates:”
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| Retirement Plan | OPEB Plans | | | | | | | | |
| Year Ended December 31, | Year Ended December 31, | | | | | | | | |
| 2021 | 2020 | | 2019 | 2021 | 2020 | | 2019 | | |
| Assumptions Used to Determine Net Periodic Pension and Benefit Cost: | | | | | | | | | | |
| Discount rate | 2.50% | | 3.24% | | 4.37% | | 2.51% | | 3.25% | 4.35% |
| Expected rate of compensation increase | 3.41% | | 3.29% | | 3.35% | | | | | |
| Interest crediting rate for cash balance | 3.00% | | 3.50% | | 3.50% | | | | | |
| Expected return on plan assets (Vistra Plan) | 3.77% | | 4.44% | | 4.80% | | | | | |
First 8 of 26 rows. The CSV has all of them.
Table 95 after “million was driven by losses attributable to decreasing discount rates due to changes in the corporate bond markets and plan experience diff”
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| Retirement Plan | OPEB Plans | | | | |
| Year Ended December 31, | Year Ended December 31, | | | | |
| 2021 | 2020 | | 2021 | 2020 | |
| Change in Pension and Postretirement Benefit Obligations: | | | | | | |
| Projected benefit obligation at beginning of period | $643 | | $674 | | $157 | $151 |
| Service cost | 5 | | 6 | | 1 | 2 |
| Interest cost | 16 | | 20 | | 4 | 4 |
| Participant contributions | — | | — | | 3 | 3 |
First 8 of 34 rows. The CSV has all of them.
Table 96 after “— As of December 31, 2021 and 2020, all of the Retirement Plan assets were measured at fair value using the net asset value per share (or it”
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| December 31, | | |
| 2021 | 2020 | |
| Asset Category: | | | |
| Cash commingled trusts | 11 | | 11 |
| Equity securities: | | | |
| Global equities | 149 | | 153 |
| Fixed income securities: | | | |
| Corporate bonds (a) | 199 | | 207 |
First 8 of 12 rows. The CSV has all of them.
Table 97 after “The following table provides information regarding pension plans with PBO and ABO in excess of the fair value of plan assets.”
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| December 31, | | |
| 2021 | 2020 | |
| Pension Plans with PBO and ABO in Excess Of Plan Assets: | | | |
| Projected benefit obligations | $605 | | $643 |
| Accumulated benefit obligation | $600 | | $639 |
| Plan assets | $470 | | $485 |
Table 98 after “The target asset allocation ranges of pension plan investments by asset category are as follows:”
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| Target Allocation Ranges | | | | | | | | | |
| Asset Category: | Vistra Plan | Dynegy Plan | | EEI Plan | | | | | | |
| Fixed income | 65% | - | 75% | | 45% | - | 55% | 40% | - | 50% |
| Global equity securities | 16% | - | 24% | | 30% | - | 38% | 34% | - | 42% |
| Real estate | 4% | - | 8% | | 8% | - | 12% | 10% | - | 14% |
| Credit strategies | 3% | - | 7% | | 6% | - | 10% | 7% | - | 11% |
Table 99 after “The Retirement Plan strategic asset allocation is determined in conjunction with the plan's advisors and utilizes a comprehensive Asset-Liab”
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| Retirement Plan | | | | |
| Expected Long-Term Rate of Return | | | | |
| Asset Class: | Vistra Plan | Dynegy Plan | | EEI Plan | |
| Fixed income securities | 3.1% | | 3.1% | | 3.1% |
| Global equity securities | 6.9% | | 6.9% | | 6.9% |
| Real estate | 5.4% | | 5.4% | | 5.4% |
| Credit strategies | 5.5% | | 5.5% | | 5.5% |
| Weighted average | 4.2% | | 4.8% | | 4.9% |
Table 100 after “The following tables provide information regarding the assumed health care cost trend rates.”
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| December 31, | | |
| 2021 | 2020 | |
| Assumed Health Care Cost Trend Rates-Not Medicare Eligible: | | | |
| Health care cost trend rate assumed for next year | 6.30% | | 6.20% |
| Rate to which the cost trend is expected to decline (the ultimate trend rate) | 4.50% | | 4.50% |
| Year that the rate reaches the ultimate trend rate | 2029 | 2029 | |
| Assumed Health Care Cost Trend Rates-Medicare Eligible: | | | |
| Health care cost trend rate assumed for next year (Vistra Plan, EEI Union and EEI Salaried) | 9.60% | | 9.10% |
First 8 of 11 rows. The CSV has all of them.
Table 101 after “Estimated future benefit payments to beneficiaries are as follows:”
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| 2022 | 2023 | | 2024 | 2025 | 2026 | | 2027-2031 | | |
| Pension benefits | $67 | | $42 | | $33 | | $34 | | $46 | $162 |
| OPEB | $10 | | $10 | | $10 | | $9 | | $9 | $39 |
Table 102 after “Stock-based compensation expense is reported as SG&A in the consolidated statements of operations as follows:”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Total stock-based compensation expense | $51 | | $63 | | $47 |
| Income tax benefit | (12) | | (15) | | (9) |
| Stock based-compensation expense, net of tax | $39 | | $48 | | $38 |
Table 103 after “Stock options outstanding at December 31, 2021 are all held by current or former employees. The following table summarizes our stock option ”
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| Year Ended December 31, 2021 | | | | | |
| Stock Options (in thousands) | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (in millions) | |
| Total outstanding at beginning of period | 16,030 | | $19.58 | | 6.7 | $30.8 |
| Granted | — | | $— | | | |
| Exercised | (894) | | $14.25 | | | |
| Forfeited or expired | (1,189) | | $28.18 | | | |
| Total outstanding at end of period | 13,947 | | $19.28 | | 5.9 | $55.7 |
| Exercisable at December 31, 2021 | 7,234 | | $17.60 | | 5.7 | $42.1 |
Table 104 after “The following table summarizes our restricted stock unit activity:”
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| Year Ended December 31, 2021 | | |
| Restricted Stock Units (in thousands) | Weighted Average Grant Date Fair Value | |
| Total nonvested at beginning of period | 2,252 | | $22.35 |
| Granted | 1,858 | | $22.61 |
| Vested | (1,082) | | $22.02 |
| Forfeited | (217) | | $23.20 |
| Total nonvested at end of period | 2,811 | | $22.57 |
| For the year ended | Retail | Texas | | East | West | Sunset | | Asset Closure | Corporate and Other (b) | Eliminations | | Consolidated | | | |
| Operating revenues (a): | | | | | | | | | | | | | | | |
| December 31, 2021 | $7,871 | | $2,790 | | $2,587 | | $374 | | $739 | | $— | | $— | $(2,284) | $12,077 |
| December 31, 2020 | 8,270 | | 4,116 | | 2,415 | | 282 | | 1,252 | | 3 | | — | (4,895) | 11,443 |
| December 31, 2019 | 6,872 | | 3,836 | | 2,790 | | 338 | | 1,602 | | 341 | | — | (3,970) | 11,809 |
| Depreciation and amortization: | | | | | | | | | | | | | | | |
| December 31, 2021 | $(212) | | $(608) | | $(698) | | $(60) | | $(139) | | $— | | $(36) | $— | $(1,753) |
| December 31, 2020 | (303) | | (475) | | (721) | | (19) | | (133) | | (22) | | (64) | — | (1,737) |
First 8 of 29 rows. The CSV has all of them.
Table 106 after “The following unrealized net gains (losses) from mark-to-market valuations of commodity positions are included in operating revenues:”
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| For the year ended | Retail | Texas | | East | West | Sunset | | Asset Closure | Corporate and Other | Eliminations (1) | | Consolidated | | | |
| December 31, 2021 | $(325) | | $(1,272) | | $(637) | | $(42) | | $(634) | | $— | | $— | $1,719 | $(1,191) |
| December 31, 2020 | (11) | | 677 | | (23) | | (10) | | (140) | | — | | — | (329) | 164 |
| December 31, 2019 | 8 | | 575 | | 195 | | 41 | | 168 | | — | | — | (305) | 682 |
Table 107 after “Interest Expense and Related Charges”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Interest paid/accrued | $480 | | $467 | | $576 |
| Unrealized mark-to-market net (gains) losses on interest rate swaps | (134) | | 155 | | 220 |
| Amortization of debt issuance costs, discounts and premiums | 30 | | 18 | | 9 |
| Debt extinguishment (gain) loss | 1 | | (17) | | (21) |
| Capitalized interest | (26) | | (21) | | (12) |
| Other | 33 | | 28 | | 25 |
First 8 of 9 rows. The CSV has all of them.
| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Other income: | | | | | |
| Insurance settlements (a) | $88 | | $6 | | $22 |
| Gain on settlement of rail transportation disputes (b) | 15 | | — | | — |
| Sale of land (b) | 9 | | 8 | | — |
| Funds released from escrow to settle pre-petition claims of our predecessor (c) | — | | — | | 9 |
| Interest income | — | | 2 | | 10 |
First 8 of 14 rows. The CSV has all of them.
| December 31, 2021 | December 31, 2020 | | | | |
| Current Assets | Noncurrent Assets | | Current Assets | Noncurrent Assets | |
| Amounts related to remediation escrow accounts | $21 | | $13 | | $19 | $19 |
| Total restricted cash | $21 | | $13 | | $19 | $19 |
| December 31, | | |
| 2021 | 2020 | |
| Wholesale and retail trade accounts receivable | $1,442 | | $1,324 |
| Allowance for uncollectible accounts | (45) | | (45) |
| Trade accounts receivable — net | $1,397 | | $1,279 |
Table 111 after “Allowance for Uncollectible Accounts Receivable”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Allowance for uncollectible accounts receivable at beginning of period (a) | $45 | | $42 | | $19 |
| Increase for bad debt expense | 110 | | 110 | | 82 |
| Decrease for account write-offs | (110) | | (107) | | (65) |
| Allowance for uncollectible accounts receivable at end of period | $45 | | $45 | | $36 |
Table 112 after “Inventories by Major Category”
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| December 31, | | |
| 2021 | 2020 | |
| Materials and supplies | $260 | | $260 |
| Fuel stock | 314 | | 236 |
| Natural gas in storage | 36 | | 19 |
| Total inventories | $610 | | $515 |
| December 31, | | |
| 2021 | 2020 | |
| Nuclear plant decommissioning trust | $1,960 | | $1,674 |
| Assets related to employee benefit plans (Note 17) | 42 | | 41 |
| Land | 44 | | 44 |
| Miscellaneous other | 3 | | — |
| Total investments | $2,049 | | $1,759 |
Table 114 after “A summary of the fair market value of investments in the fund follows:”
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| Year Ended December 31, | | |
| 2021 | 2020 | |
| Debt securities (a) | $679 | | $618 |
| Equity securities (b) | 1,281 | | 1,056 |
| Total | $1,960 | | $1,674 |
Table 115 after “The following table summarizes proceeds from sales of securities and investments in new securities.”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Proceeds from sales of securities | $483 | | $433 | | $431 |
| Investments in securities | $(505) | | $(455) | | $(453) |
Table 116 after “Property, Plant and Equipment”
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| December 31, | | |
| 2021 | 2020 | |
| Power generation and structures | $16,195 | | $15,222 |
| Land | 608 | | 617 |
| Office and other equipment | 183 | | 173 |
| Total | 16,986 | | 16,012 |
| Less accumulated depreciation | (4,801) | | (3,614) |
| Net of accumulated depreciation | 12,185 | | 12,398 |
First 8 of 12 rows. The CSV has all of them.
Table 117 after “The following table summarizes the changes to these obligations, reported as AROs (current and noncurrent liabilities) in our consolidated b”
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| Nuclear Plant Decommissioning | Mining Land Reclamation | | Coal Ash and Other | Total | |
| Liability at December 31, 2018 | $1,276 | | $442 | | $655 | $2,373 |
| Additions: | | | | | | |
| Accretion | 44 | | 22 | | 31 | 97 |
| Adjustment for change in estimates | — | | 16 | | (1) | 15 |
| Adjustment for obligations assumed through acquisitions | — | | — | | (3) | (3) |
| Reductions: | | | | | | |
| Payments | — | | (70) | | (39) | (109) |
First 8 of 25 rows. The CSV has all of them.
Table 118 after “The balance of other noncurrent liabilities and deferred credits consists of the following:”
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| December 31, | | |
| 2021 | 2020 | |
| Retirement and other employee benefits (Note 17) | $276 | | $312 |
| Winter Storm Uri impact (a) | 261 | | — |
| Identifiable intangible liabilities (Note 6) | 147 | | 289 |
| Regulatory liability | 325 | | 89 |
| Finance lease liabilities | 235 | | 206 |
| Uncertain tax positions, including accrued interest | 13 | | 12 |
First 8 of 12 rows. The CSV has all of them.
| | December 31, 2021 | December 31, 2020 | | | | |
| Long-term debt (see Note 11): | Fair Value Hierarchy | Carrying Amount | Fair Value | | Carrying Amount | Fair Value | |
| Long-term debt under the Vistra Operations Credit Facilities | Level 2 | $2,549 | | $2,518 | | $2,579 | $2,565 |
| Vistra Operations Senior Notes | Level 2 | 7,880 | | 8,193 | | 6,634 | 7,204 |
| Forward Capacity Agreements | Level 3 | 211 | | 211 | | 45 | 45 |
| Equipment Financing Agreements | Level 3 | 85 | | 85 | | 59 | 59 |
| Building Financing | Level 2 | 3 | | 3 | | 10 | 10 |
| Other debt | Level 3 | 3 | | 3 | | 3 | 3 |
Table 120 after “The following table reconciles cash, cash equivalents and restricted cash reported in our consolidated statements of cash flows to the amoun”
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| December 31, | | |
| 2021 | 2020 | |
| Cash and cash equivalents | $1,325 | | $406 |
| Restricted cash included in current assets | 21 | | 19 |
| Restricted cash included in noncurrent assets | 13 | | 19 |
| Total cash, cash equivalents and restricted cash | $1,359 | | $444 |
Table 121 after “The following table summarizes our supplemental cash flow information for the years ended December 31, 2021, 2020 and 2019, respectively.”
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| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Cash payments related to: | | | | | |
| Interest paid | $482 | | $503 | | $525 |
| Capitalized interest | (26) | | (21) | | (12) |
| Interest paid (net of capitalized interest) | $456 | | $482 | | $513 |
| Income taxes paid / (refunds received) (a) | $(50) | | $(140) | | $(76) |
| Noncash investing and financing activities: | | | | | |
First 8 of 13 rows. The CSV has all of them.
| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Depreciation and amortization | $(17) | | $(15) | | $(7) |
| Selling, general and administrative expenses | (53) | | (72) | | (62) |
| Operating loss | (70) | | (87) | | (69) |
| Other income | 3 | | 5 | | 12 |
| Interest expense and related charges | — | | (7) | | (88) |
| Impacts of Tax Receivable Agreement | 53 | | 5 | | (37) |
First 8 of 12 rows. The CSV has all of them.
| Year Ended December 31, | | | | |
| 2021 | 2020 | | 2019 | |
| Cash flows — operating activities: | | | | | |
| Cash used in operating activities | $(38) | | $(86) | | $(58) |
| Cash flows — investing activities: | | | | | |
| Capital expenditures | — | | (15) | | (36) |
| Dividend received from subsidiaries | 405 | | 1,105 | | 3,890 |
| Equity contribution to subsidiaries | (988) | | — | | — |
First 8 of 20 rows. The CSV has all of them.
| December 31, | | |
| 2021 | 2020 | |
| ASSETS | | | |
| Cash and cash equivalents | $668 | | $73 |
| Trade accounts receivable — net | 8 | | 7 |
| Income taxes receivable | 15 | | — |
| Prepaid expense and other current assets | 1 | | 5 |
| Total current assets | 692 | | 85 |
First 8 of 25 rows. The CSV has all of them.
Table 125 after “Vistra Corp. Exhibits to Form 10-K for the Fiscal Year Ended December 31, 2021”
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| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| (2) | Plan of Acquisition, Reorganization, Arrangement, Liquidation, or Succession | | | |
| 2.1 | 333-215288Form S-1 (filed December 23, 2016) | 2.1 | — | Order of the United States Bankruptcy Court for the District of Delaware Confirming the Third Amended Joint Plan of Reorganization |
| 2.2 | 001-38086Form 8-K (filed October 31, 2017) | 2.1 | — | Agreement and Plan of Merger, dated as of October 29, 2017, by and between Vistra Energy Corp. (now known as Vistra Corp.) and Dynegy, Inc. |
| (3(i)) | Articles of Incorporation | | | |
| 3.1 | 001-38086Form 8-K (filed May 4, 2020) | 3.1 | — | Restated Certificate of Incorporation of Vistra Energy Corp. (now known as Vistra Corp.) |
| 3.2 | 001-38086Form 8-K (filed June 29, 2020) | 3.1 | — | Certificate of Amendment of the Restated Certificate of Incorporation of Vistra Energy Corp. (now known as Vistra Corp.), effective July 2, 2020 |
| 3.3 | 001-38086 Form 8-K (filed on October 15, 2021) | 3.1 | — | Series A Preferred Stock Certificate of Designation, filed with the Secretary of State of Delaware on October 14, 2021 |
First 8 of 10 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 3.5 | ** | | — | Amended and Restated Bylaws of Vistra Corp., effective February 23, 2022 |
| (4) | Instruments Defining the Rights of Security Holders, Including Indentures | | | |
| 4.1 | 001-38086 Form 8-K (filed on August 23, 2018) | 4.1 | — | Indenture for 5.500% Senior Note due 2026, dated as of August 22, 2018, among Vistra Operations Company LLC, as issuer, the Subsidiary Guarantors (as defined therein), and Wilmington Trust, National Association, as Trustee |
| 4.2 | 001-38086 Form 8-K (filed on August 23, 2018) | 4.2 | — | Form of Rule 144A Global Security for 5.500% Senior Note due 2026 (included in Exhibit 4.1) |
| 4.3 | 001-38086 Form 8-K (filed on August 23, 2018) | 4.3 | — | Form of Regulation S Global Security for 5.500% Senior Note due 2026 (included in Exhibit 4.1) |
| 4.4 | 001-38086 Form 10-Q (Quarter ended September 30, 2019) (filed on November 5, 2019) | 4.5 | — | First Supplemental Indenture for the 5.500% Senior Notes due 2026, dated August 30, 2019, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.5 | 001-38086 Form 10-K (Year ended December 31, 2019) (filed on February 28, 2020) | 4.36 | — | Second Supplemental Indenture for the 5.500% Senior Notes due 2026, dated October 25, 2019, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
First 8 of 16 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 4.14 | 001-38086 Form 8-K (filed on February 6, 2019) | 4.3 | — | Form of Regulation S Global Security for 5.625% Senior Note due 2027 (included in Exhibit 4.1) |
| 4.15 | 001-38086 Form 10-Q (Quarter ended September 30, 2019) (filed on November 5, 2019) | 4.6 | — | First Supplemental Indenture for the 5.625% Senior Notes due 2027, dated August 30, 2019, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.16 | 001-38086 Form 10-K (Year ended December 31, 2019) (filed on February 28, 2020) | 4.41 | — | Second Supplemental Indenture for the 5.625% Senior Notes due 2027, dated October 25, 2019, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.17 | 001-38086 Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) | 4.7 | — | Third Supplemental Indenture for the 5.625% Senior Notes due 2027, dated January 31, 2020, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.18 | 001-38086 Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) | 4.8 | — | Fourth Supplemental Indenture for the 5.625% Senior Notes due 2027, dated March 26, 2020, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.19 | 001-38086 Form 10-K (Year ended December 31, 2020) (filed on February 26, 2021) | 4.17 | — | Fifth Supplemental Indenture for the 5.625% Senior Notes due 2027, dated October 7, 2020, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.20 | 001-38086 Form 10-K (Year ended December 31, 2020) (filed on February 26, 2021) | 4.18 | — | Sixth Supplemental Indenture for the 5.625% Senior Notes due 2027, dated January 8, 2021, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
First 8 of 15 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 4.28 | 001-38086 Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) | 4.9 | — | Third Supplemental Indenture for the 5.000% Senior Notes due 2027, dated January 31, 2020, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.29 | 001-38086 Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) | 4.10 | — | Fourth Supplemental Indenture for the 5.000% Senior Notes due 2027, dated March 26, 2020, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.30 | 001-38086 Form 10-K (Year ended December 31, 2020) (filed on February 26, 2021) | 4.26 | — | Fifth Supplemental Indenture for the 5.000% Senior Notes due 2027, dated October 7, 2020, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.31 | 001-38086 Form 10-K (Year ended December 31, 2020) (filed on February 26, 2021) | 4.27 | — | Sixth Supplemental Indenture for the 5.000% Senior Notes due 2027, dated January 8, 2021, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.32 | 001-38086 Form 10-Q (Quarter ended September 30, 2021) (filed on November 5, 2021) | 4.5 | — | Seventh Supplemental Indenture for the 5.000% Senior Notes due 2027, dated July 29, 2021, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.33 | ** | | — | Eighth Supplemental Indenture for the 5.000% Senior Notes due 2027, dated December 28, 2021, among the Guaranteeing Subsidiaries, the Company, the Subsidiary Guarantors and the Trustee |
| 4.34 | 001-38086 Form 8-K (filed on June 17, 2019) | 4.1 | — | Indenture, dated as of June 11, 2019, between Vistra Operations Company LLC, as Issuer, and Wilmington Trust, National Association, as Trustee |
First 8 of 15 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 4.42 | 001-38086 Form 8-K (filed on November 21, 2019) | 4.2 | — | Fourth Supplemental Indenture, dated as of November 15, 2019, among Vistra Operations Company LLC, as Issuer, the Subsidiary Guarantors (as defined therein), and Wilmington Trust, National Association, as Trustee |
| 4.43 | 001-38086 Form 8-K (filed on November 21, 2019) | 4.3 | — | Form of Rule 144A Global Security for 3.70% Senior Note due 2027 (included in Exhibit 4.2) |
| 4.44 | 001-38086 Form 8-K (filed on November 21, 2019) | 4.4 | — | Form of Regulation S Global Security for 3.70% Senior Note due 2027 (included in Exhibit 4.2) |
| 4.45 | 001-38086 Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) | 4.11 | — | Fifth Supplemental Indenture for 3.55% Senior Secured Notes due 2024, 3.70% Senior Secured Notes due 2027 and 4.30% Senior Secured Notes due 2029, dated as of January 31, 2020, among Vistra Operations Company LLC, as Issuer, the Guaranteeing Subsidiaries, the Subsidiary Guarantors and the Trustee |
| 4.46 | 001-38086 Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) | 4.12 | — | Sixth Supplemental Indenture for 3.55% Senior Secured Notes due 2024, 3.70% Senior Secured Notes due 2027 and 4.30% Senior Secured Notes due 2029, dated as of March 26, 2020, among Vistra Operations Company LLC, as Issuer, the Guaranteeing Subsidiaries, the Subsidiary Guarantors and the Trustee |
| 4.47 | 001-38086 Form 10-K (Year ended December 31, 2020) (filed on February 26, 2021) | 4.41 | — | Seventh Supplemental Indenture for 3.55% Senior Secured Notes due 2024, 3.70% Senior Secured Notes due 2027 and 4.30% Senior Secured Notes due 2029, dated as of October 7, 2020, among Vistra Operations Company LLC, as Issuer, the Guaranteeing Subsidiaries, the Subsidiary Guarantors and the Trustee |
| 4.48 | 001-38086 Form 10-K (Year ended December 31, 2020) (filed on February 26, 2021) | 4.42 | — | Eighth Supplemental Indenture for 3.55% Senior Secured Notes due 2024, 3.70% Senior Secured Notes due 2027 and 4.30% Senior Secured Notes due 2029, dated as of January 8, 2021, among Vistra Operations Company LLC, as Issuer, the Guaranteeing Subsidiaries, the Subsidiary Guarantors and the Trustee |
First 8 of 14 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 4.55 | ** | | — | Second Supplemental Indenture for the 4.375% Senior Notes due 2029, dated December 28, 2021, among Vistra Operations Company LLC, as Issuer, the Guaranteeing Subsidiaries, the Subsidiary Guarantors and the Trustee |
| 4.56 | 001-38086 Form 8-K (filed on August 23, 2018) | 4.7 | — | Purchase and Sale Agreement dated as of August 21, 2018, between TXU Energy Retail Company LLC as originator, and TXU Energy Receivables Company LLC, as purchaser |
| 4.57 | 001-38086 Form 8-K (filed on August 23, 2018) | 4.8 | — | Receivable Purchase Agreement dated as of August 21, 2018, among TXU Energy Receivables Company LLC, as seller, TXU Energy Retail Company LLC, as servicer, Vistra Operations Company LLC, as performance guarantor, certain purchaser agents and purchasers named therein and Credit Agricole Corporate and Investment Bank, as administrator |
| 4.58 | 001-38086 Form 8-K (filed on April 5, 2019) | 4.1 | — | First Amendment to Purchase and Sale Agreement, dated as of April 1, 2019, among TXU Energy Retail Company LLC, Dynegy Energy Services, LLC, and Dynegy Energy Services (East), LLC, each as an originator, and TXU Energy Receivables Company LLC, as purchaser |
| 4.59 | 001-38086 Form 10-Q (Quarter ended June 30, 2019) (filed on August 2, 2019) | 4.12 | — | Second Amendment to Purchase and Sale Agreement, dated as of June 3, 2019, among TXU Energy Retail Company LLC, Dynegy Energy Services, LLC, and Dynegy Energy Services (East), LLC, each as an originator, and TXU Energy Receivables Company LLC, as purchaser |
| 4.60 | 001-38086 Form 8-K (filed on July 19, 2019) | 4.1 | — | Third Amendment to Purchase and Sale Agreement, dated as of July 15, 2019, among TXU Energy Retail Company LLC, Dynegy Energy Services, LLC, and Dynegy Energy Services (East), LLC, each as an originator, and TXU Energy Receivables Company LLC, as purchaser |
| 4.61 | 001-38086 Form 8-K (filed on October 16, 2020) | 4.1 | — | Fourth Amendment to Purchase and Sale Agreement, dated as of October 9, 2020, among TXU Energy Retail Company LLC, as an originator and servicer, the other originators named therein, and TXU Energy Receivables Company LLC, as purchaser |
First 8 of 12 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 4.66 | 001-38086 Form 8-K (filed on July 16, 2020) | 4.1 | — | Fifth Amendment to Receivables Purchase Agreement, dated as of July 13, 2020, among TXU Energy Receivables Company LLC, as seller, TXU Energy Retail Company LLC, as servicer, Vistra Operations Company LLC, as performance guarantor, certain purchaser agents and purchasers named therein and Credit Agricole Corporate and Investment Bank, as administrator |
| 4.67 | 001-38086 Form 8-K (filed on October 16, 2020) | 4.2 | — | Sixth Amendment to Receivables Purchase Agreement, dated as of October 9, 2020, among TXU Energy Receivables Company LLC, as seller, TXU Energy Retail Company LLC, as servicer, Vistra Operations Company LLC, as performance guarantor, certain purchaser agents and purchasers named therein, and Credit Agricole Corporate and Investment Bank, as administrator |
| 4.68 | 001-38086 Form 8-K (filed on December 28, 2020) | 4.2 | — | Seventh Amendment to Receivables Purchase Agreement, dated as of December 21, 2020, among TXU Energy Receivables Company LLC, as seller, TXU Energy Retail Company LLC, as servicer, Vistra Operations Company LLC, as performance guarantor, certain purchaser agents and purchasers named therein, and Credit Agricole Corporate and Investment Bank, as administrator |
| 4.69 | 001-38086 Form 10-K (Year ended December 31, 2020) (filed on February 26, 2021) | 4.56 | — | Eighth Amendment to Receivables Purchase Agreement, dated as of February 19, 2020, among TXU Energy Receivables Company LLC, as seller, TXU Energy Retail Company LLC, as servicer, Vistra Operations Company LLC, as performance guarantor, certain purchaser agents and purchasers named therein, and Credit Agricole Corporate and Investment Bank, as administrator |
| 4.70 | 001-38086 Form 10-Q (Quarter ended March 31, 2021) (filed on May 4, 2021) | 4.6 | — | Ninth Amendment to Receivables Purchase Agreement, dated as of March 26, 2021, among TXU Energy Receivables Company LLC, as seller, TXU Energy Retail Company LLC, as servicer, Vistra Operations Company LLC, as performance guarantor, certain purchaser agents and purchasers named therein, and Credit Agricole Corporate and Investment Bank, as administrator |
| 4.71 | 001-38086 Form 8-K (filed on July 15, 2021) | 4.1 | — | Tenth Amendment to Receivables Purchase Agreement, dated as of July 9, 2021, among TXU Energy Receivables Company LLC, as seller, TXU Energy Retail Company LLC, as servicer, Vistra Operations Company LLC, as performance guarantor, certain purchaser agents and purchasers named therein, and Credit Agricole Corporate and Investment Bank, as administrator |
| 4.72 | 001-38086 Form 10-Q (Quarter ended September 30, 2021) (filed on November 5, 2021) | 4.2 | — | Eleventh Amendment to Receivables Purchase Agreement, dated as of July 16, 2021, among TXU Energy Receivables Company LLC, as seller, TXU Energy Retail Company LLC, as servicer, Vistra Operations Company LLC, as performance guarantor, certain purchaser agents and purchasers named therein, and Credit Agricole Corporate and Investment Bank, as administrator |
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| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| Management Contracts; Compensatory Plans, Contracts and Arrangements | | | |
| 10.1 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.6 | — | 2016 Omnibus Incentive Plan |
| 10.2 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.7 | — | Form of Option Award Agreement (Management) for 2016 Omnibus Incentive Plan (pre-2021 awards) |
| 10.3 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.8 | — | Form of Restricted Stock Unit Award Agreement (Management) for 2016 Omnibus Incentive Plan (pre-2021 awards) |
| 10.4 | 001-33443 Form10-K (Year ended December 31, 2017) (filed on February 26, 2018) | 10(d) | — | Form of Performance Stock Unit Award Agreement for 2016 Omnibus Incentive Plan (pre-2021 awards) |
| 10.5 | 001-38086 Form 10-K (Year ended December 31, 2020) (filed on February 26, 2021) | 10.5 | — | Form of Option Award Agreement (Management) for 2016 Omnibus Incentive Plan |
| 10.6 | 001-38086 Form 10-K (Year ended December 31, 2020) (filed on February 26, 2021) | 10.6 | — | Form of Restricted Stock Unit Award Agreement (Management) for 2016 Omnibus Incentive Plan |
First 8 of 15 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 10.14 | 001-33443 Form 10-Q (Quarter ended March 31, 2019) (filed on May 3, 2019) | 10.5 | — | Amended and Restated Employment Agreement, dated May 1, 2019, between James A. Burke and Vistra Energy Corp. (now known as Vistra Corp.) |
| 10.15 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.22 | — | Employment Agreement between Stephanie Zapata Moore and Vistra Energy Corp. (now known as Vistra Corp.) |
| 10.16 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.23 | — | Employment Agreement between Carrie Lee Kirby and Vistra Energy Corp. (now known as Vistra Corp.) |
| 10.17 | 001-38086Form 8-K (filed February 27, 2020) | 10.2 | — | Employment Agreement between Scott A. Hudson, Vistra Energy Corp. (now known as Vistra Corp.) and TXU Retail Service Company |
| 10.18 | 001-38086Form 8-K (filed February 27, 2020) | 10.1 | — | Employment Agreement between Stephen J. Muscato, Vistra Energy Corp. (now known as Vistra Corp.) and Luminant Energy Company LLC |
| 10.19 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.26 | — | Form of indemnification agreement with directors |
| 10.20 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.29 | — | Stock Purchase Agreement, dated as of October 25, 2016, by and between TCEH Corp. (now known as Vistra Corp.) and Curtis A. Morgan |
First 8 of 15 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 10.27 | 001-38086Form 8-K (filed February 22, 2018) | 10.1 | — | Sixth Amendment to Credit Agreement, dated as of February 20, 2018 (effective February 20, 2018), by and among Deutsche Bank AG New York Branch, Vistra Operations Company LLC, Vistra Intermediate Company LLC and the other Credit Parties and Lenders party thereto. |
| 10.28 | 001-38086Form 8-K (filed June 15, 2018) | 10.1 | — | Seventh Amendment to Credit Agreement, dated as of June 14, 2018, by and among Vistra Operations Company LLC, Vistra Intermediate Company LLC, the other Credit Parties party thereto, Credit Suisse and Citibank, N.A. as the 2018 Incremental Term Loan Lenders, the various other Lenders party thereto, Credit Suisse as Successor Administrative Agent and as Successor Collateral Agent, and Delaware Trust Company, as Collateral Trustee. |
| 10.29 | 001-38086Form 8-K (filed April 4, 2019) | 10.4 | — | Eighth Amendment to Credit Agreement, dated March 29, 2019, by and among Vistra Operations Company LLC, Vistra Intermediate Company LLC, the other Credit Parties (as defined in the Vistra Operations Credit Agreement) party thereto, Bank of Montreal, Chicago Branch, as new Revolving Loan Lender, Revolving Letter of Credit Issuer and Joint Lead Arranger, the various other Lenders and Letter of Credit Issuers party thereto, and Credit Suisse as Administrative Agent and Collateral Agent |
| 10.30 | 001-38086Form 8-K (filed May 29, 2019) | 10.1 | — | Ninth Amendment to Credit Agreement, dated May 29, 2019, by and among Vistra Operations Company LLC, Vistra Intermediate Company LLC, the other Credit Parties (as defined in the Vistra Operations Credit Agreement) party thereto, Sun Trust Bank, as incremental Revolving Loan Lender, and Credit Suisse AG, Cayman Island Branch, as Administrative Agent and Collateral Agent |
| 10.31 | 001-38086 Form 8-K (filed on November 21, 2019) | 10.1 | — | Tenth Amendment to the Credit Agreement, dated November 15, 2019, by and among Vistra Operations Company LLC (as Borrower), Vistra Intermediate Company LLC (as Holdings), the other Credit Parties (as defined in the Credit Agreement) party thereto, the other Credit Parties (as defined in the Credit Agreement) party thereto, Credit Suisse AG, Cayman Islands Branch (as the 2019 Incremental Term Loan Lender and as Administrative Agent and as Collateral Agent), and the other Lenders party thereto |
| 10.32 | 001-38086 Form 8-K (filed on August 7, 2018) | 10.1 | — | Purchase Agreement, dated August 7, 2018, by and among Vistra Operations Company LLC and Citigroup Global Markets Inc., on behalf of itself and the several Initial Purchasers named in Schedule I to the Purchase Agreement |
| 10.33 | 001-38086 Form 8-K (filed on January 24, 2019) | 10.1 | — | Purchase Agreement, dated January 22, 2019, by and among Vistra Operations Company LLC and J.P. Morgan Securities LLC. On behalf of itself and the several Initial Purchasers named in Schedule I to the Purchase Agreement |
First 8 of 11 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 10.37 | 001-38086 Form 8-K (filed on May 11, 2021) | 10.1 | — | Purchase Agreement, dated May 5, 2021, by and among Vistra Operations Company LLC and J.P. Morgan Securities LLC. On behalf of itself and the several Initial Purchasers named in Schedule I to the Purchase Agreement |
| 10.38 | 001-38086 Form 8-K (filed on October 15, 2021) | 10.1 | — | Purchase Agreement, dated October 12, 2021, by and between Vistra Corp. and Goldman Sachs & Co. LLC |
| 10.39 | 001-38086 Form 8-K (filed on December 13, 2021) | 10.1 | — | Purchase Agreement, dated December 7, 2021, by and between Vistra Corp. and Goldman Sachs & Co. LLC |
| 10.40 | 001-38086 Form 8-K (filed on April 2, 2021) | 10.1 | — | Credit Agreement, dated as of March 29, 2021, among Vistra Operations Company LLC (as Borrower), Vistra Intermediate Company LLC (as Holdings), Royal Bank of Canada (as Administrative Agent and as Collateral Agent), and the 2021 Incremental Term Loan Lender (as defined therein) |
| 10.41 | 001-38086 Form 8-K (filed on April 2, 2021) | 10.2 | — | First Amendment to Credit Agreement, dated as of April 1, 2021, among Vistra Operations Company LLC (as Borrower), Vistra Intermediate Company LLC (as Holdings), Royal Bank of Canada (as Administrative Agent and as Collateral Agent), and the 2021 Incremental Term Loan Lender (as defined therein) |
| 10.42 | 001-38086Form 8-K(filed on April 9, 2018) | 10.10 | — | Assumption Agreement, dated as of April 9, 2018, between Vistra Energy Corp. (now known as Vistra Corp.) (as successor by merger to Dynegy Inc.), and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent and as Collateral Trustee. |
| 10.43 | 001-38086Form 8-K(filed on April 9, 2018) | 10.11 | — | Guarantee and Collateral Agreement, dated as of April 23, 2013, among Dynegy Inc., the subsidiaries of the borrower from time to time party thereto and Credit Suisse AG, Cayman Islands Branch, as Collateral Trustee (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K of Dynegy Inc. filed on April 24, 2013). |
First 8 of 13 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 10.48 | 001-38086 Form 8-K (filed on June 15, 2018) | 10.3 | — | Collateral Trust Joinder, dated June 14, 2018, between the Additional Grantors party thereto and Delaware Trust Company, as Collateral Trustee, to the Collateral Trust Agreement, effective pursuant to the Seventh Amendment as of June 14, 2018, among Vistra Operations Company LLC, the other Grantors from time to time party thereto, Railroad Commission of Texas, as First-Out Representative, Credit Suisse AG, Cayman Islands Branch, as Senior Credit Agreement Agent, and Delaware Trust Company, as Collateral Trustee. |
| 10.49 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.13 | — | Tax Receivable Agreement, by and between TEX Energy LLC (now known as Vistra Corp.) and American Stock Transfer & Trust Company, as transfer agent, dated as of October 3, 2016 |
| 10.50 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.14 | — | Tax Matters Agreement, by and among TEX Energy LLC (now known as Vistra Corp.), EFH Corp., Energy Future Intermediate Holding Company LLC, EFI Finance Inc. and EFH Merger Co. LLC, dated as of October 3, 2016 |
| 10.51 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.15 | — | Transition Services Agreement, by and between Energy Future Holdings Corp. and TEX Operations Company LLC (now known as Vistra Operations Company LLC), dated as of October 3, 2016 |
| 10.52 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.16 | — | Separation Agreement, by and between Energy Future Holdings Corp., TEX Energy LLC (now known as Vistra Corp.) and TEX Operations Company LLC (now known as Vistra Operations LLC), dated as of October 3, 2016 |
| 10.53 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.17 | — | Purchase and Sale Agreement, dated as of November 25, 2015, by and between La Frontera Ventures, LLC and Luminant Holding Company LLC |
| 10.54 | 333-215288Amendment No. 2 to Form S-1 (filed April 5, 2017) | 10.18 | — | Amended and Restated Split Participant Agreement, by and between Oncor Electric Delivery Company LLC (f/k/a TXU Electric Delivery Company) and TEX Operations Company LLC (now known as Vistra Operations Company LLC), dated as of October 3, 2016 |
First 8 of 13 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | As Exhibit | | |
| 10.60 | 001-38086 Form 10-Q (Quarter ended September 30, 2021) (filed on November 5, 2021) | 10.3 | — | Amendment No. 1 to Master Repurchase Agreement, dated as of August 3, 2021, between TXU Energy Retail Company LLC and MUFG Bank, Ltd. |
| 10.61 | 001-38086 Form 8-K (filed on December 28, 2020) | 10.1 | — | Joinder Agreement, dated as of December 21, 2020, among TXU Energy Retail company LLC, as seller party agent, Vistra Operations Company LLC, as guarantor, certain originators named therein, and MUFG Bank, Ltd., as buyer |
| 10.62 | ** | | — | Amendment No. 2 to Master Repurchase Agreement, dated as of December 30, 2021, between TXU Energy Retail Company LLC and MUFG Bank, Ltd. |
| 10.63 | ** | | — | Credit Agreement, dated as of February 4, 2022, among Vistra Operations Company LLC, as Borrower, Vistra Intermediate Company LLC, as Holdings, Citibank, N.A., as Administrative Agent and as Collateral Agent, and the other lenders party thereto. |
| (21) | Subsidiaries of the Registrant | | | |
| 21.1 | ** | | — | Significant Subsidiaries of Vistra Corp. |
| (23) | Consent of Experts | | | |
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Table 138 after “Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of”
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| Signature | Title | Date |
| /s/ CURTIS A. MORGAN | Principal Executive Officer and Director | February 25, 2022 |
| (Curtis A. Morgan, Chief Executive Officer) | | |
| /s/ JAMES A. BURKE | Principal Financial Officer | February 25, 2022 |
| (James A. Burke, President and Chief Financial Officer) | | |
| /s/ CHRISTY DOBRY | Principal Accounting Officer | February 25, 2022 |
| (Christy Dobry, Senior Vice President and Controller) | | |
| /s/ SCOTT B. HELM | Chairman of the Board and Director | February 25, 2022 |
First 8 of 25 rows. The CSV has all of them.