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Tables in the 10-Q of Vistra Corp.
90 tables with numbers, filed Nov 4, 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. | FINANCIAL INFORMATION | |
| Item 1. | Financial Statements (Unaudited) | |
| Condensed Consolidated Statements of Operations — Three and Nine Months Ended September 30, 2022 and 2021 | 1 |
| Condensed Consolidated Statements of Comprehensive Income (Loss) — Three and Nine Months Ended September 30, 2022 and 2021 | 1 |
| Condensed Consolidated Statements of Cash Flows — Nine Months Ended September 30, 2022 and 2021 | 2 |
| Condensed Consolidated Balance Sheets — September 30, 2022 and December 31, 2021 | 4 |
First 8 of 21 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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| 2021 Form 10-K | Vistra's annual report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022 |
| Ambit | Ambit Holdings, LLC, and/or its subsidiaries (d/b/a Ambit), depending on context |
| ARO | asset retirement and mining reclamation obligation |
| CAISO | The California Independent System Operator |
| CARES Act | Coronavirus Aid, Relief, and Economic Security Act |
| CCGT | combined cycle gas turbine |
| CCR | coal combustion residuals |
| CFTC | U.S. Commodity Futures Trading Commission |
First 8 of 36 rows. The CSV has all of them.
| LTSA | long-term service agreements for plant maintenance |
| Luminant | subsidiaries of Vistra engaged in competitive market activities consisting of electricity generation and wholesale energy sales and purchases as well as commodity risk management |
| market heat rate | Heat rate is a measure of the efficiency of converting a fuel source to electricity. Market heat rate is the implied relationship between wholesale electricity prices and natural gas prices and is calculated by dividing the wholesale market price of electricity, which is based on the price offer of the marginal supplier (generally natural gas plants), by the market price of natural gas. |
| Merger | the merger of Dynegy with and into Vistra, with Vistra as the surviving corporation |
| Merger Date | April 9, 2018, the date Vistra and Dynegy completed the transactions contemplated by the Agreement and Plan of Merger, dated as of October 29, 2017, by and between Vistra and Dynegy |
| MISO | Midcontinent Independent System Operator, Inc. |
| MMBtu | million British thermal units |
| Moody's | Moody's Investors Service, Inc. (a credit rating agency) |
First 8 of 33 rows. The CSV has all of them.
| TCEH | Texas Competitive Electric Holdings Company LLC, a direct, wholly owned subsidiary of Energy Future Competitive Holdings Company LLC, and, prior to the Effective Date, the parent company of our predecessor, depending on context, that were engaged in electricity generation and wholesale and retail energy market activities, and whose major subsidiaries included Luminant and TXU Energy |
| TCEQ | Texas Commission on Environmental Quality |
| TRA | Tax Receivable Agreement, containing certain rights (TRA Rights) to receive payments from Vistra related to certain tax benefits, including benefits realized as a result of certain transactions entered into at Emergence (see Note 7 to the Financial Statements) |
| TRE | Texas Reliability Entity, Inc., an independent organization that develops reliability standards for the ERCOT region and monitors and enforces compliance with NERC standards and monitors compliance with ERCOT protocols |
| TriEagle Energy | TriEagle Energy, LP (d/b/a TriEagle Energy, TriEagle Energy Services, Eagle Energy, Energy Rewards, Power House Energy and Viridian Energy), an indirect, wholly owned subsidiary of Vistra, a REP in certain areas of ERCOT and PJM that is engaged in the retail sale of electricity to residential and business customers |
| TXU Energy | TXU Energy Retail Company LLC (d/b/a TXU), 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 |
| 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 |
First 8 of 14 rows. The CSV has all of them.
Table 6 after “(Unaudited) (Millions of Dollars, Except Per Share Amounts)”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2022 | 2021 | | 2022 | 2021 | |
| Operating revenues (Note 4) | $5,146 | | $2,991 | | $9,859 | $8,763 |
| Fuel, purchased power costs and delivery fees | (3,139) | | (1,763) | | (7,580) | (7,827) |
| Operating costs | (400) | | (372) | | (1,250) | (1,173) |
| Depreciation and amortization | (390) | | (468) | | (1,214) | (1,355) |
| Selling, general and administrative expenses | (323) | | (269) | | (894) | (771) |
| Impairment of long-lived assets (Note 17) | — | | — | | — | (38) |
First 8 of 26 rows. The CSV has all of them.
Table 7 after “(Unaudited) (Millions of Dollars)”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2022 | 2021 | | 2022 | 2021 | |
| Net income (loss) | $678 | | $10 | | $(962) | $(1,994) |
| Other comprehensive income, net of tax effects: | | | | | | |
| Effects related to pension and other retirement benefit obligations (net of tax expense of $2, $4, $2 and $5) | 6 | | 14 | | 6 | 17 |
| Total other comprehensive income | 6 | | 14 | | 6 | 17 |
| Comprehensive income (loss) | $684 | | $24 | | $(956) | $(1,977) |
| Comprehensive income attributable to noncontrolling interest | (10) | | (3) | | (19) | (6) |
First 8 of 9 rows. The CSV has all of them.
| VISTRA CORP. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Millions of Dollars) | | | |
| Nine Months Ended September 30, | | |
| 2022 | 2021 | |
| Cash flows — operating activities: | | | |
| Net loss | $(962) | | $(1,994) |
| Adjustments to reconcile net loss to cash provided by (used in) operating activities: | | | |
| Depreciation and amortization | 1,575 | | 1,551 |
| Deferred income tax benefit, net | (298) | | (587) |
First 8 of 47 rows. The CSV has all of them.
| VISTRA CORP. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Millions of Dollars) | | | |
| Nine Months Ended September 30, | | |
| 2022 | 2021 | |
| Dividends paid to preferred stockholders | (76) | | — |
| Debt tender offer and other financing fees | (29) | | (13) |
| Other, net | 34 | | (5) |
| Cash provided by financing activities | 3 | | 1,279 |
| Net change in cash, cash equivalents and restricted cash | (791) | | (57) |
First 8 of 10 rows. The CSV has all of them.
| VISTRA CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Millions of Dollars) | | | |
| September 30, 2022 | December 31, 2021 | |
| ASSETS | | | |
| Current assets: | | | |
| Cash and cash equivalents | $535 | | $1,325 |
| Restricted cash (Note 17) | 23 | | 21 |
| Trade accounts receivable — net (Note 17) | 1,854 | | 1,397 |
| Income taxes receivable | — | | 15 |
First 8 of 45 rows. The CSV has all of them.
| VISTRA CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Millions of Dollars) | | | |
| September 30, 2022 | December 31, 2021 | |
| Commitments and Contingencies (Note 11) | | | |
| Total equity (Note 12): | | | |
| Preferred stock, number of shares authorized — 100,000,000; Series A (liquidation preference — $1,000; shares outstanding: September 30, 2022 and December 31, 2021— 1,000,000); Series B (liquidation preference — $1,000; shares outstanding: September 30, 2022 and December 31, 2021 — 1,000,000) | 2,000 | | 2,000 |
| Common stock (par value — $0.01; number of shares authorized — 1,800,000,000)(shares outstanding: September 30, 2022 — 405,444,072; December 31, 2021 — 469,072,597) | 5 | | 5 |
| Treasury stock, at cost (shares: September 30, 2022 — 131,640,516; December 31, 2021 — 63,856,879) | (3,052) | | (1,558) |
| Additional paid-in-capital | 9,923 | | 9,824 |
First 8 of 14 rows. The CSV has all of them.
Table 12 after “Operational results for plants with defined retirement dates are included in our Sunset segment beginning in the quarter when a retirement p”
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| Facility | Location | ISO/RTO | Fuel Type | Net Generation Capacity (MW) | Actual or Expected Retirement Date (a) | Segment |
| Baldwin | Baldwin, IL | MISO | Coal | 1,185 | By the end of 2025 | Sunset |
| Coleto Creek | Goliad, TX | ERCOT | Coal | 650 | By the end of 2027 | Sunset |
| Edwards | Bartonville, IL | MISO | Coal | 585 | January 1, 2023 | Sunset |
| Joppa | Joppa, IL | MISO | Coal | 802 | Retired September 1, 2022 | Asset Closure |
| Joppa | Joppa, IL | MISO | Natural Gas | 221 | Retired September 1, 2022 | Asset Closure |
| Kincaid | Kincaid, IL | PJM | Coal | 1,108 | By the end of 2027 | Sunset |
| Miami Fort | North Bend, OH | PJM | Coal | 1,020 | By the end of 2027 | Sunset |
First 8 of 11 rows. The CSV has all of them.
| Three Months Ended September 30, 2022 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations | Consolidated | | | |
| Revenue from contracts with customers: | | | | | | | | | | | | | |
| Retail energy charge in ERCOT | $2,186 | | $— | | $— | | $— | | $— | | $— | $— | $2,186 |
| Retail energy charge in Northeast/Midwest | 491 | | — | | — | | — | | — | | — | — | 491 |
| Wholesale generation revenue from ISO/RTO | — | | 669 | | 329 | | 157 | | 385 | | 74 | — | 1,614 |
| Capacity revenue from ISO/RTO (a) | — | | — | | 14 | | — | | — | | — | — | 14 |
| Revenue from other wholesale contracts | — | | 127 | | 328 | | 40 | | 38 | | — | — | 533 |
First 8 of 15 rows. The CSV has all of them.
| Three Months Ended September 30, 2021 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations | Consolidated | | | |
| Revenue from contracts with customers: | | | | | | | | | | | | | |
| Retail energy charge in ERCOT | $1,896 | | $— | | $— | | $— | | $— | | $— | $— | $1,896 |
| Retail energy charge in Northeast/Midwest | 624 | | — | | — | | — | | — | | — | — | 624 |
| Wholesale generation revenue from ISO/RTO | — | | 211 | | 191 | | 89 | | 198 | | 124 | — | 813 |
| Capacity revenue from ISO/RTO (a) | — | | — | | (13) | | 1 | | 39 | | 12 | — | 39 |
| Revenue from other wholesale contracts | — | | 88 | | 167 | | 29 | | 45 | | 1 | — | 330 |
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| Nine Months Ended September 30, 2022 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations | Consolidated | | | |
| Revenue from contracts with customers: | | | | | | | | | | | | | |
| Retail energy charge in ERCOT | $5,349 | | $— | | $— | | $— | | $— | | $— | $— | $5,349 |
| Retail energy charge in Northeast/Midwest | 1,673 | | — | | — | | — | | — | | — | — | 1,673 |
| Wholesale generation revenue from ISO/RTO | — | | 761 | | 901 | | 268 | | 775 | | 392 | — | 3,097 |
| Capacity revenue from ISO/RTO (a) | — | | — | | 4 | | — | | 63 | | 20 | — | 87 |
| Revenue from other wholesale contracts | — | | 392 | | 773 | | 114 | | 118 | | 22 | — | 1,419 |
First 8 of 15 rows. The CSV has all of them.
| Nine Months Ended September 30, 2021 | | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | | Eliminations | | Consolidated | | |
| Revenue from contracts with customers: | | | | | | | | | | | | | | |
| Retail energy charge in ERCOT | $4,460 | | $— | | $— | | $— | | $— | | $— | | $— | $4,460 |
| Retail energy charge in Northeast/Midwest | 1,715 | | — | | — | | — | | — | | — | | — | 1,715 |
| Wholesale generation revenue from ISO/RTO | — | | 3,585 | | 442 | | 158 | | 1,006 | | 224 | | — | 5,415 |
| Capacity revenue from ISO/RTO (a) | — | | — | | (14) | | 1 | | 99 | | 34 | | — | 120 |
| Revenue from other wholesale contracts | — | | 2,172 | | 459 | | 75 | | 147 | | 1 | | — | 2,854 |
First 8 of 15 rows. The CSV has all of them.
Table 17 after “The following table presents trade accounts receivable (net of allowance for uncollectible accounts) relating to both contracts with custome”
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| September 30, 2022 | December 31, 2021 | |
| Trade accounts receivable from contracts with customers — net | $1,411 | | $1,087 |
| Other trade accounts receivable — net | 443 | | 310 |
| Total trade accounts receivable — net | $1,854 | | $1,397 |
Table 18 after “Identifiable intangible assets are comprised of the following:”
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| September 30, 2022 | December 31, 2021 | | | | | | | | | |
| Identifiable Intangible Asset | GrossCarryingAmount | Accumulated Amortization | | Net | GrossCarryingAmount | Accumulated Amortization | | Net | | | |
| Retail customer relationship | $2,085 | | $1,733 | | $352 | | $2,083 | | | $1,631 | $452 |
| Software and other technology-related assets | 460 | | 247 | | 213 | | 421 | | | 206 | 215 |
| Retail and wholesale contracts | 233 | | 204 | | 29 | | 248 | | | 206 | 42 |
| Contractual service agreements (a) | 19 | | 4 | | 15 | | 23 | | | 2 | 21 |
| Other identifiable intangible assets (b) | 60 | | 8 | | 52 | | 95 | | | 20 | 75 |
| Total identifiable intangible assets subject to amortization | $2,857 | | $2,196 | | 661 | | $2,870 | | | $2,065 | 805 |
First 8 of 10 rows. The CSV has all of them.
Table 19 after “Identifiable intangible liabilities are comprised of the following:”
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| Identifiable Intangible Liability | September 30, 2022 | December 31, 2021 | |
| Contractual service agreements | $129 | | $125 |
| Purchase and sale of power and capacity | 3 | | 8 |
| Fuel and transportation purchase contracts | 10 | | 14 |
| Total identifiable intangible liabilities | $142 | | $147 |
Table 20 after “Expense related to finite-lived identifiable intangible assets and liabilities (including the classification in the condensed consolidated s”
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| Identifiable Intangible Assets and Liabilities | | Condensed Consolidated Statements of Operations | Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | |
| 2022 | | 2021 | | 2022 | | 2021 | | | |
| Retail customer relationship | | Depreciation and amortization | $34 | | | $49 | | $102 | | $147 |
| Software and other technology-related assets | | Depreciation and amortization | 17 | | | 20 | | 53 | | 58 |
| Retail and wholesale contracts/purchase and sale/fuel and transportation contracts | | Operating revenues/fuel, purchased power costs and delivery fees | (1) | | | 1 | | 4 | | (60) |
| Other identifiable intangible assets | | Operating revenues/fuel, purchased power costs and delivery fees/depreciation and amortization | 109 | | | 91 | | 296 | | 196 |
| Total intangible asset expense, net (a) | $159 | | | $161 | | | $455 | | $341 | |
Table 21 after “As of September 30, 2022, the estimated aggregate amortization expense of identifiable intangible assets and liabilities for each of the nex”
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| Year | Estimated Amortization Expense |
| 2022 | $206 |
| 2023 | $151 |
| 2024 | $102 |
| 2025 | $76 |
| 2026 | $51 |
Table 22 after “The calculation of our effective tax rate is as follows:”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2022 | 2021 | | 2022 | 2021 | |
| Net income (loss) before income taxes | $914 | | $41 | | $(1,224) | $(2,563) |
| Income tax (expense) benefit | $(236) | | $(31) | | $262 | $569 |
| Effective tax rate | 25.8% | | 75.6% | | 21.4% | 22.2% |
Table 23 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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| Nine Months Ended September 30, | | |
| 2022 | 2021 | |
| TRA obligation at the beginning of the period | $395 | | $450 |
| Accretion expense | 50 | | 48 |
| Changes in tax assumptions impacting timing of payments (a) | (21) | | (79) |
| Impacts of Tax Receivable Agreement | 29 | | (31) |
| TRA obligation at the end of the period | 424 | | 419 |
| Less amounts due currently | (1) | | (3) |
First 8 of 9 rows. The CSV has all of them.
Table 24 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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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2022 | 2021 | | 2022 | 2021 | |
| Net income (loss) attributable to Vistra | $668 | | $7 | | $(981) | $(2,000) |
| Less cumulative dividends attributable to Series A Preferred Stock | (20) | | — | | (60) | — |
| Less cumulative dividends attributable to Series B Preferred Stock | (17) | | — | | (52) | — |
| Net income (loss) attributable to common stock — basic | 631 | | 7 | | (1,093) | (2,000) |
| Weighted average shares of common stock outstanding — basic | 413,762,896 | | 482,516,965 | | 431,381,151 | 483,150,213 |
| Net income (loss) per weighted average share of common stock outstanding — basic | $1.53 | | $0.01 | | $(2.53) | $(4.14) |
First 8 of 11 rows. The CSV has all of them.
Table 25 after “Amounts in the table below represent the categories of long-term debt obligations, including amounts due currently, incurred by the Company.”
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| September 30, 2022 | December 31, 2021 | |
| Vistra Operations Credit Facilities | $2,522 | | $2,543 |
| Vistra Operations Senior Secured Notes: | | | |
| 4.875% Senior Secured Notes, due May 13, 2024 | 400 | | — |
| 3.550% Senior Secured Notes, due July 15, 2024 | 1,500 | | 1,500 |
| 5.125% Senior Secured Notes, due May 13, 2025 | 1,100 | | — |
| 3.700% Senior Secured Notes, due January 30, 2027 | 800 | | 800 |
| 4.300% Senior Secured Notes, due July 15, 2029 | 800 | | 800 |
First 8 of 24 rows. The CSV has all of them.
Table 26 after “Our credit facilities and related available capacity as of September 30, 2022 are presented below.”
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| | September 30, 2022 | | | | | |
| Credit Facilities | Maturity Date | Facility Limit | Cash Borrowings | | Letters of Credit Outstanding | Available Capacity | |
| Extended Revolving Credit Facility (a) | April 29, 2027 | $3,525 | | $— | | $2,388 | $1,137 |
| Non-Extended Revolving Credit Facility (b) | June 14, 2023 | 200 | | — | | 135 | 65 |
| Term Loan B-3 Facility (c) | December 31, 2025 | 2,522 | | 2,522 | | — | — |
| Total Vistra Operations Credit Facilities | | $6,247 | | $2,522 | | $2,523 | $1,202 |
| Commodity-Linked Facility (d) | October 5, 2022 | $2,250 | | $— | | $— | $1,701 |
| Total Credit Facilities | | $8,497 | | $2,522 | | $2,523 | $2,903 |
Table 27 after “— Vistra employs interest rate swaps to hedge our exposure to variable rate debt. As of September 30, 2022, Vistra has entered into the foll”
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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 | $720 | February 2024 | 3.71% | - | 3.72% |
| Swapped to variable | $720 | February 2024 | 3.20% | - | 3.20% |
| Swapped to fixed (a) | $3,000 | July 2026 | 4.72% | - | 4.79% |
| Swapped to variable | $700 | July 2026 | 3.28% | - | 3.33% |
Table 28 after “Long-term debt maturities at September 30, 2022 are as follows:”
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| September 30, 2022 |
| Remainder of 2022 | $19 |
| 2023 | 40 |
| 2024 | 1,940 |
| 2025 | 3,567 |
| 2026 | 1,006 |
| Thereafter | 5,490 |
| Unamortized premiums, discounts and debt issuance costs | (77) |
First 8 of 9 rows. The CSV has all of them.
Table 29 after “The following table presents the changes to equity for the three months ended September 30, 2022:”
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| Preferred Stock | Common Stock (a) | | Treasury Stock | Additional Paid-in Capital | Retained Earnings (Deficit) | | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity | | Noncontrolling Interest in Subsidiary | | Total Equity | | | | | | | |
| Balance at June 30, 2022 | $2,000 | | $5 | | $(2,645) | | $9,890 | | $(3,842) | | | $(16) | | | $5,392 | | | $11 | | $5,403 |
| Stock repurchases | — | | — | | (407) | | — | | — | | | — | | | (407) | | | — | | (407) |
| Dividends declared on common stock | — | | — | | — | | — | | (75) | | | — | | | (75) | | | — | | (75) |
| Dividends declared on preferred stock | — | | — | | — | | — | | (37) | | | — | | | (37) | | | — | | (37) |
| Effects of stock-based incentive compensation plans | — | | — | | — | | 29 | | — | | | — | | | 29 | | | — | | 29 |
| Net income (loss) | — | | — | | — | | — | | 668 | | | — | | | 668 | | | 10 | | 678 |
| Change in accumulated other comprehensive income (loss) | | | | | | | | 6 | | 6 | | | — | | | 6 | | | | |
First 8 of 10 rows. The CSV has all of them.
Table 30 after “The following table presents the changes to equity for the nine months ended September 30, 2022:”
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| Preferred Stock (a) | Common Stock (b) | | Treasury Stock | | Additional Paid-in Capital | Retained Earnings (Deficit) | | Accumulated Other Comprehensive Income (Loss) | | Total Stockholders' Equity | Noncontrolling Interest in Subsidiary | | Total Equity | | | | | | |
| Balance at December 31, 2021 | $2,000 | | $5 | | | $(1,558) | | $9,824 | | | $(1,964) | | $(16) | | | $8,291 | | $1 | | $8,292 |
| Stock repurchases | — | | — | | | (1,493) | | — | | | — | | — | | | (1,493) | | — | | (1,493) |
| Dividends declared on common stock | — | | — | | | — | | — | | | (227) | | — | | | (227) | | — | | (227) |
| Dividends declared on preferred stock | — | | — | | | — | | — | | | (113) | | — | | | (113) | | — | | (113) |
| Effects of stock-based incentive compensation plans | — | | — | | | — | | 87 | | | — | | — | | | 87 | | — | | 87 |
| Net income (loss) | — | | — | | | — | | | | (981) | | — | | | (981) | | 19 | | (962) | |
| Adoption of accounting standard | | — | | | — | | — | | | — | | — | | | — | | — | | — | |
First 8 of 11 rows. The CSV has all of them.
Table 31 after “The following table presents the changes to equity for the three months ended September 30, 2021:”
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| Common Stock (a) | Treasury Stock | | Additional Paid-in Capital | Retained Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | | Total Stockholders' Equity | Noncontrolling Interest | Total Equity | | | |
| Balance at June 30, 2021 | $5 | | $(1,148) | | $9,816 | | $(2,552) | | $(45) | | $6,076 | $(8) | $6,068 |
| Dividends declared on common stock | — | | — | | — | | (72) | | — | | (72) | — | (72) |
| Effects of stock-based incentive compensation plans | — | | — | | 12 | | — | | — | | 12 | — | 12 |
| Net income (loss) | — | | — | | — | | 7 | | — | | 7 | 3 | 10 |
| Change in accumulated other comprehensive income (loss) | — | | — | | — | | — | | 14 | | 14 | — | 14 |
| Other | — | | — | | 1 | | (2) | | — | | (1) | — | (1) |
| Balance at September 30, 2021 | $5 | | $(1,148) | | $9,829 | | $(2,619) | | $(31) | | $6,036 | $(5) | $6,031 |
Table 32 after “The following table presents the changes to equity for the nine months ended September 30, 2021:”
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| Common Stock (a) | Treasury Stock | | Additional Paid-in Capital | Retained Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | | Total Stockholders' Equity | | Noncontrolling Interest in Subsidiary | Total Equity | | | | | |
| Balance at December 31, 2020 | $5 | | $(973) | | $9,786 | | $(399) | | | $(48) | | $8,371 | | $(10) | | $8,361 |
| Stock repurchases | — | | (175) | | — | | — | | | — | | (175) | | — | | (175) |
| Dividends declared on common stock | — | | — | | — | | (219) | | | — | | (219) | | — | | (219) |
| Effects of stock-based incentive compensation plans | — | | — | | 39 | | | | — | | 39 | | — | | 39 | |
| Net income (loss) | — | | — | | — | | (2,000) | | | — | | (2,000) | | 6 | | (1,994) |
| Change in accumulated other comprehensive income (loss) | — | | — | | — | | — | | | 17 | | 17 | | — | | 17 |
| Other | — | | — | | 4 | | (1) | | | — | | 3 | | (1) | | 2 |
First 8 of 9 rows. The CSV has all of them.
Table 33 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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| September 30, 2022 | December 31, 2021 | | | | | | | | | | | | | | | | | | | | |
| Level 1 | Level 2 | | Level 3 (a) | Reclass (b) | Total | | Level 1 | | Level 2 | Level 3 (a) | | Reclass (b) | | Total | | | | | | | |
| Assets: | | | | | | | | | | | | | | | | | | | | | | |
| Commodity contracts | $5,152 | | $1,321 | | $1,157 | | $65 | | | $7,695 | | $1,408 | | | $889 | | | $442 | $5 | | | $2,744 |
| Interest rate swaps | — | | 153 | | — | | — | | | 153 | | — | | | 19 | | | — | — | | | 19 |
| Nuclear decommissioning trust – equity securities (c) | 530 | | — | | — | | — | | | 530 | | 724 | | | — | | | — | | | 724 | |
| Nuclear decommissioning trust – debt securities (c) | — | | 592 | | — | | | | 592 | | — | | | 679 | | | — | | | 679 | | |
| Sub-total | $5,682 | | $2,066 | | $1,157 | | $65 | | | 8,970 | | $2,132 | | | $1,587 | | | $442 | $5 | | | 4,166 |
First 8 of 15 rows. The CSV has all of them.
Table 34 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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| September 30, 2022 | | | | | | | | | | | | | | | | | |
| Fair Value | | | | | | | | | | | | | | | | |
| Contract Type (a) | Assets | Liabilities | | Total | Valuation Technique | | Significant Unobservable Input | | Range (b) | | Average (b) | | | | | | |
| Electricity purchases and sales | $912 | | $(1,467) | | $(555) | | | Income Approach | | Hourly price curve shape (c) | | $— | | to | $70 | | $36 |
| | | | | | MWh | | | | | | | | | | | |
| | | | | | | Illiquid delivery periods for hub power prices and heat rates (d) | | $50 | | to | $120 | | $84 | | | |
| | | | | | | | MWh | | | | | | | | | |
| Options | — | | (500) | | (500) | | | Option Pricing Model | | Gas to power correlation (e) | | 15% | | to | 100% | | 57% |
First 8 of 17 rows. The CSV has all of them.
Table 35 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 36 after “The following table presents the changes in fair value of the Level 3 assets and liabilities for the three and nine months ended September 3”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2022 | 2021 | | 2022 | 2021 | |
| Net asset (liability) balance at beginning of period | $(1,015) | | $46 | | $(360) | $22 |
| Total unrealized valuation losses (a) | (235) | | (174) | | (1,256) | — |
| Purchases, issuances and settlements (b): | | | | | | |
| Purchases | 44 | | 33 | | 139 | 73 |
| Issuances | (6) | | (12) | | (48) | (22) |
| Settlements | 257 | | (72) | | 431 | (238) |
First 8 of 13 rows. The CSV has all of them.
Table 37 after “million, respectively, were recognized in operating revenues due to the discontinuance of NPNS accounting on retail electric contract portfo”
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| September 30, 2022 | | | | | | | |
| Derivative Assets | Derivative Liabilities | | | | | | |
| Commodity Contracts | Interest Rate Swaps | | Commodity Contracts | Interest Rate Swaps | Total | | |
| Current assets | $6,697 | | $80 | | $9 | | $— | $6,786 |
| Noncurrent assets | 966 | | 73 | | 23 | | — | 1,062 |
| Current liabilities | (33) | | — | | (8,723) | | (40) | (8,796) |
| Noncurrent liabilities | — | | — | | (1,753) | | (50) | (1,803) |
| Net assets (liabilities) | $7,630 | | $153 | | $(10,444) | | $(90) | $(2,751) |
Table 38 after “million, respectively, were recognized in operating revenues due to the discontinuance of NPNS accounting on retail electric contract portfo”
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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 39 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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| Derivative (condensed consolidated statements of operations presentation) | Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| 2022 | | 2021 | | 2022 | 2021 | | |
| Commodity contracts (Operating revenues) | $(658) | | | $(919) | | $(3,665) | $(1,017) |
| Commodity contracts (Fuel, purchased power costs and delivery fees) | 131 | | | 333 | | 472 | 448 |
| Interest rate swaps (Interest expense and related charges) | 89 | | | (1) | | 238 | 53 |
| Net loss | $(438) | | | $(587) | | $(2,955) | $(516) |
Table 40 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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| September 30, 2022 | December 31, 2021 | | | | | | | | | | | |
| 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 | $7,630 | | $(6,726) | | $(25) | | $879 | | $2,739 | | $(2,051) | $(27) | $661 |
| Interest rate swaps | 153 | | (70) | | — | | 83 | | 19 | | (19) | — | — |
| Total derivative assets | 7,783 | | (6,796) | | (25) | | 962 | | 2,758 | | (2,070) | (27) | 661 |
| Derivative liabilities: | | | | | | | | | | | | | |
| Commodity contracts | (10,444) | | 6,726 | | 1,552 | | (2,166) | | (3,605) | | 2,051 | 784 | (770) |
First 8 of 11 rows. The CSV has all of them.
Table 41 after “The following table presents the gross notional amounts of derivative volumes at September 30, 2022 and December 31, 2021:”
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| September 30, 2022 | December 31, 2021 | | |
| Derivative type | Notional Volume | Unit of Measure | | |
| Natural gas (a) | 6,577 | | 4,701 | Million MMBtu |
| Electricity | 743,035 | | 440,236 | GWh |
| Financial transmission rights (b) | 221,681 | | 224,876 | GWh |
| Coal | 50 | | 25 | Million U.S. tons |
| Fuel oil | 97 | | 87 | Million gallons |
| Emissions | 69 | | 18 | Million tons |
First 8 of 11 rows. The CSV has all of them.
Table 42 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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| September 30, 2022 | December 31, 2021 | |
| Fair value of derivative contract liabilities (a) | $(2,658) | | $(1,200) |
| Offsetting fair value under netting arrangements (b) | 1,532 | | 660 |
| Cash collateral and letters of credit | 377 | | 95 |
| Liquidity exposure | $(749) | | $(445) |
| Three months ended | Retail | Texas | | East | West | Sunset | | Asset Closure | Corporate and Other (c) | Eliminations | | Consolidated | | | |
| Operating revenues (a): | | | | | | | | | | | | | | | |
| September 30, 2022 | $3,258 | | $3,627 | | $1,126 | | $236 | | $280 | | $68 | | $1 | $(3,450) | $5,146 |
| September 30, 2021 | 2,160 | | 843 | | 508 | | 90 | | (62) | | (60) | | — | (488) | 2,991 |
| Depreciation and amortization (b): | | | | | | | | | | | | | | | |
| September 30, 2022 | $(36) | | $(135) | | $(187) | | $4 | | $(19) | | $1 | | $(18) | $— | $(390) |
| September 30, 2021 | (53) | | (179) | | (164) | | (15) | | (27) | | (13) | | (17) | — | (468) |
| Operating income (loss): | | | | | | | | | | | | | | | |
First 8 of 29 rows. The CSV has all of them.
Table 44 after “The following unrealized net gains (losses) from mark-to-market valuations of commodity positions are included in operating revenues:”
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| Three months ended | Retail (1) | Texas | | East | West | Sunset | | Asset Closure | Corporate and Other | Eliminations (2) | | Consolidated | | | |
| September 30, 2022 | $225 | | $1,485 | | $(103) | | $56 | | $49 | | $62 | | $— | $(1,428) | $346 |
| September 30, 2021 | (383) | | (697) | | (303) | | (46) | | (395) | | (154) | | — | 1,117 | $(861) |
| Nine Months ended | Retail (1) | Texas | | East | West | Sunset | | Asset Closure | Corporate and Other | Eliminations (2) | | Consolidated | | | |
| September 30, 2022 | $(812) | | $(2,139) | | $(951) | | $(23) | | $(677) | | $92 | | $— | $2,409 | $(2,101) |
| September 30, 2021 | (406) | | (2,354) | | (486) | | (135) | | (724) | | (285) | | — | 3,244 | $(1,146) |
Table 45 after “Interest Expense and Related Charges”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2022 | 2021 | | 2022 | 2021 | |
| Interest paid/accrued | $156 | | $124 | | $429 | $354 |
| Unrealized mark-to-market net gains on interest rate swaps | (90) | | (13) | | (261) | (92) |
| Amortization of debt issuance costs, discounts and premiums | 7 | | 9 | | 20 | 23 |
| Debt extinguishment (gain) loss | (1) | | — | | (1) | 1 |
| Capitalized interest | (8) | | (4) | | (22) | (22) |
| Other | 7 | | 8 | | 21 | 24 |
First 8 of 9 rows. The CSV has all of them.
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2022 | 2021 | | 2022 | 2021 | |
| Other income: | | | | | | |
| Insurance settlements (a) | $— | | $9 | | $63 | $74 |
| Gain on settlement of rail transportation disputes (b) | — | | — | | — | 15 |
| Sale of land (b) | 3 | | 1 | | 8 | 2 |
| Interest income | 2 | | — | | 4 | — |
| All other | 5 | | 6 | | 13 | 17 |
First 8 of 12 rows. The CSV has all of them.
| September 30, 2022 | December 31, 2021 | | | | |
| Current Assets | Noncurrent Assets | | Current Assets | Noncurrent Assets | |
| Amounts related to remediation escrow accounts | $23 | | $10 | | $21 | $13 |
| Total restricted cash | $23 | | $10 | | $21 | $13 |
| September 30, 2022 | December 31, 2021 | |
| Wholesale and retail trade accounts receivable | $1,945 | | $1,442 |
| Allowance for uncollectible accounts | (91) | | (45) |
| Trade accounts receivable — net | $1,854 | | $1,397 |
Table 49 after “Allowance for Uncollectible Accounts Receivable”
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| Nine Months Ended September 30, | | | |
| | 2022 | 2021 | |
| Allowance for uncollectible accounts receivable at beginning of period | | $45 | | $45 |
| Increase for bad debt expense | | 136 | | 86 |
| Decrease for account write-offs | | (90) | | (72) |
| Allowance for uncollectible accounts receivable at end of period | | $91 | | $59 |
| September 30, 2022 | December 31, 2021 | |
| Materials and supplies | $272 | | $260 |
| Fuel stock | 258 | | 314 |
| Natural gas in storage | 60 | | 36 |
| Total inventories | $590 | | $610 |
| September 30, 2022 | December 31, 2021 | |
| Nuclear plant decommissioning trust | $1,547 | | $1,960 |
| Assets related to employee benefit plans | 40 | | 42 |
| Land | 41 | | 44 |
| Miscellaneous other | 9 | | 3 |
| Total investments | $1,637 | | $2,049 |
Table 52 after “A summary of the fair market value of investments in the fund follows:”
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| September 30, 2022 | December 31, 2021 | |
| Debt securities (a) | $592 | | $679 |
| Equity securities (b) | 955 | | 1,281 |
| Total | $1,547 | | $1,960 |
Table 53 after “The following table summarizes proceeds from sales of securities and investments in new securities.”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2022 | 2021 | | 2022 | 2021 | |
| Proceeds from sales of securities | $94 | | $99 | | $428 | $366 |
| Investments in securities | $(101) | | $(105) | | $(446) | $(382) |
| September 30, 2022 | December 31, 2021 | |
| Power generation and structures | $16,734 | | $16,195 |
| Land | 587 | | 608 |
| Office and other equipment | 191 | | 183 |
| Total | 17,512 | | 16,986 |
| Less accumulated depreciation | (5,683) | | (4,801) |
| Net of accumulated depreciation | 11,829 | | 12,185 |
| Finance lease right-of-use assets (net of accumulated depreciation) | 173 | | 173 |
First 8 of 11 rows. The CSV has all of them.
Table 55 after “The following table summarizes the changes to these obligations, reported as AROs (current and noncurrent liabilities) in our condensed cons”
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| Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2021 | | | | | | | | | | | |
| Nuclear Plant Decom- missioning | Mining Land Reclamation | | Coal Ash and Other | Total | Nuclear Plant Decom- missioning | | Mining Land Reclamation | Coal Ash and Other | Total | | | |
| Liability at beginning of period | $1,635 | | $320 | | $495 | | $2,450 | | $1,585 | | $359 | $492 | $2,436 |
| Additions: | | | | | | | | | | | | | |
| Accretion | 39 | | 11 | | 15 | | 65 | | 38 | | 12 | 15 | 65 |
| Adjustment for change in estimates | — | | (11) | | 23 | | 12 | | — | | (16) | 10 | (6) |
| Reductions: | | | | | | | | | | | | | |
| Payments | — | | (54) | | (12) | | (66) | | — | | (48) | (11) | (59) |
First 8 of 11 rows. The CSV has all of them.
Table 56 after “The balance of other noncurrent liabilities and deferred credits consists of the following:”
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| September 30, 2022 | December 31, 2021 | |
| Retirement and other employee benefits | $268 | | $276 |
| Winter Storm Uri impact (a) | 169 | | 261 |
| Identifiable intangible liabilities (Note 5) | 142 | | 147 |
| Regulatory liability (b) | — | | 325 |
| Finance lease liabilities | 238 | | 235 |
| Uncertain tax positions, including accrued interest | 14 | | 13 |
| Liability for third-party remediation | 16 | | 17 |
First 8 of 11 rows. The CSV has all of them.
| | September 30, 2022 | December 31, 2021 | | | | |
| Long-term debt (see Note 10): | Fair Value Hierarchy | Carrying Amount | Fair Value | | Carrying Amount | Fair Value | |
| Long-term debt under the Vistra Operations Credit Facilities | Level 2 | $2,526 | | $2,433 | | $2,549 | $2,518 |
| Vistra Operations Senior Notes | Level 2 | 9,373 | | 8,629 | | 7,880 | 8,193 |
| Forward Capacity Agreements | Level 3 | — | | — | | 211 | 211 |
| Equipment Financing Agreements | Level 3 | 86 | | 81 | | 85 | 85 |
| Building Financing | Level 2 | — | | — | | 3 | 3 |
| Other debt | Level 3 | — | | — | | 3 | 3 |
Table 58 after “The following table reconciles cash, cash equivalents and restricted cash reported in our condensed consolidated statements of cash flows to”
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| September 30, 2022 | December 31, 2021 | |
| Cash and cash equivalents | $535 | | $1,325 |
| Restricted cash included in current assets | 23 | | 21 |
| Restricted cash included in noncurrent assets | 10 | | 13 |
| Total cash, cash equivalents and restricted cash | $568 | | $1,359 |
Table 59 after “The following table summarizes our supplemental cash flow information for the nine months ended September 30, 2022 and 2021:”
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| Nine Months Ended September 30, | | |
| 2022 | 2021 | |
| Cash payments related to: | | | |
| Interest paid | $468 | | $425 |
| Capitalized interest | (22) | | (22) |
| Interest paid (net of capitalized interest) | $446 | | $403 |
| Income taxes paid, net (a) | $19 | | $44 |
Table 60 after “Estimated hedging levels for generation volumes in our Texas, East, West and Sunset segments at September 30, 2022 were as follows:”
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| 2022 | 2023 | |
| Nuclear/Renewable/Coal Generation: | | | |
| Texas | 95% | | 92% |
| Sunset | 93% | | 77% |
| Gas Generation: | | | |
| Texas | 90% | | 75% |
| East | 99% | | 88% |
| West | 90% | | 96% |
Table 61 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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| Balance 2022 | 2023 | |
| Texas: | | | |
| Nuclear/Renewable/Coal Generation: $2.50/MWh increase in power price | $2 | | $10 |
| Nuclear/Renewable/Coal Generation: $2.50/MWh decrease in power price | $(2) | | $(9) |
| Gas Generation: $1.00/MWh increase in spark spread | $1 | | $12 |
| Gas Generation: $1.00/MWh decrease in spark spread | $(1) | | $(11) |
| Residual Natural Gas Position: $0.25/MMBtu increase in natural gas price | $1 | | $(20) |
| Residual Natural Gas Position: $0.25/MMBtu decrease in natural gas price | $(1) | | $14 |
First 8 of 23 rows. The CSV has all of them.
Table 62 after “In June 2022, Vistra reported its results from PJM's Reliability Pricing Model (RPM) auction results for planning year 2023-2024, and the ta”
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| Clearing Price per MW-day | East Segment MW Cleared | | Sunset Segment MW Cleared | Total MW Cleared | |
| RTO zone | $34.13 | | 2,890 | | — | 2,890 |
| ComEd zone | $34.13 | | 1,151 | | 408 | 1,559 |
| DEOK zone | $34.13 | | 11 | | 924 | 935 |
| EMAAC zone | $49.49 | | 828 | | — | 828 |
| MAAC zone | $49.49 | | 545 | | — | 545 |
| ATSI zone | $34.13 | | 112 | | — | 112 |
| Total | $37.20 | | 5,537 | | 1,332 | 6,869 |
Table 63 after “Consolidated Financial Results — Three and Nine Months Ended September 30, 2022 Compared to Three and Nine Months Ended September 30, 2021”
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| Three Months Ended September 30, | Favorable (Unfavorable) $ Change | | Nine Months Ended September 30, | | Favorable (Unfavorable) $ Change | | | | |
| 2022 | 2021 | | | 2022 | | 2021 | | | |
| Operating revenues | $5,146 | | $2,991 | | | $2,155 | | $9,859 | $8,763 | $1,096 |
| Fuel, purchased power costs and delivery fees | (3,139) | | (1,763) | | | (1,376) | | (7,580) | (7,827) | 247 |
| Operating costs | (400) | | (372) | | | (28) | | (1,250) | (1,173) | (77) |
| Depreciation and amortization | (390) | | (468) | | | 78 | | (1,214) | (1,355) | 141 |
| Selling, general and administrative expenses | (323) | | (269) | | | (54) | | (894) | (771) | (123) |
| Impairment of long-lived assets | — | | — | | | — | | — | (38) | 38 |
First 8 of 16 rows. The CSV has all of them.
Table 64 after “Consolidated Financial Results — Three and Nine Months Ended September 30, 2022 Compared to Three and Nine Months Ended September 30, 2021”
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| Three Months Ended September 30, 2022 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Operating revenues | $3,258 | | $3,627 | | $1,126 | | $236 | | $280 | | $68 | $(3,449) | $5,146 |
| Fuel, purchased power costs and delivery fees | (4,161) | | (1,119) | | (983) | | (155) | | (144) | | (27) | 3,450 | (3,139) |
| Operating costs | (43) | | (193) | | (58) | | (10) | | (71) | | (25) | — | (400) |
| Depreciation and amortization | (36) | | (135) | | (187) | | 4 | | (19) | | 1 | (18) | (390) |
| Selling, general and administrative expenses | (238) | | (33) | | (18) | | (5) | | (10) | | (11) | (8) | (323) |
| Operating income (loss) | (1,220) | | 2,147 | | (120) | | 70 | | 36 | | 6 | (25) | 894 |
First 8 of 15 rows. The CSV has all of them.
| Three Months Ended September 30, 2021 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Operating revenues | $2,160 | | $843 | | $508 | | $90 | | $(62) | | $(60) | $(488) | $2,991 |
| Fuel, purchased power costs and delivery fees | (1,095) | | (482) | | (496) | | (78) | | (86) | | (14) | 488 | (1,763) |
| Operating costs | (38) | | (163) | | (57) | | (9) | | (65) | | (40) | — | (372) |
| Depreciation and amortization | (53) | | (179) | | (164) | | (15) | | (27) | | (13) | (17) | (468) |
| Selling, general and administrative expenses | (192) | | (23) | | (19) | | (7) | | (8) | | (11) | (9) | (269) |
| Operating income (loss) | 782 | | (4) | | (228) | | (19) | | (248) | | (138) | (26) | 119 |
First 8 of 15 rows. The CSV has all of them.
| Nine Months Ended September 30, 2022 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Operating revenues | $6,876 | | $1,909 | | $2,400 | | $387 | | $56 | | $296 | $(2,065) | $9,859 |
| Fuel, purchased power costs and delivery fees | (3,913) | | (2,342) | | (2,524) | | (279) | | (340) | | (248) | 2,066 | (7,580) |
| Operating costs | (111) | | (602) | | (189) | | (32) | | (213) | | (103) | — | (1,250) |
| Depreciation and amortization | (109) | | (404) | | (545) | | (26) | | (56) | | (22) | (52) | (1,214) |
| Selling, general and administrative expenses | (622) | | (99) | | (50) | | (17) | | (29) | | (30) | (47) | (894) |
| Operating income (loss) | 2,121 | | (1,538) | | (908) | | 33 | | (582) | | (107) | (98) | (1,079) |
First 8 of 15 rows. The CSV has all of them.
| Nine Months Ended September 30, 2021 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Operating revenues | $5,829 | | $1,458 | | $1,738 | | $171 | | $188 | | $(79) | $(542) | $8,763 |
| Fuel, purchased power costs and delivery fees | (2,345) | | (4,133) | | (1,269) | | (164) | | (384) | | (74) | 542 | (7,827) |
| Operating costs | (96) | | (527) | | (181) | | (26) | | (194) | | (148) | (1) | (1,173) |
| Depreciation and amortization | (160) | | (462) | | (553) | | (30) | | (78) | | (21) | (51) | (1,355) |
| Selling, general and administrative expenses | (539) | | (62) | | (56) | | (22) | | (24) | | (38) | (30) | (771) |
| Impairment of long-lived assets | — | | — | | — | | — | | — | | (38) | — | (38) |
First 8 of 16 rows. The CSV has all of them.
Table 68 after “Adjusted EBITDA — Three and Nine Months Ended September 30, 2022 Compared to Three and Nine Months Ended September 30, 2021”
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| Three Months Ended September 30, | Favorable (Unfavorable) $ Change | | Nine Months Ended September 30, | | Favorable (Unfavorable) $ Change | | | | |
| 2022 | 2021 | | | 2022 | | 2021 | | | |
| Net income (loss) | $678 | | $10 | | | $668 | | $(962) | $(1,994) | $1,032 |
| Income tax expense (benefit) | 236 | | 31 | | | 205 | | (262) | (569) | 307 |
| Interest expense and related charges (a) | 71 | | 124 | | | (53) | | 186 | 288 | (102) |
| Depreciation and amortization (b) | 413 | | 489 | | | (76) | | 1,277 | 1,416 | (139) |
| EBITDA before Adjustments | 1,398 | | 654 | | | 744 | | 239 | (859) | 1,098 |
| Unrealized net (gain) loss resulting from commodity hedging transactions (c) | (320) | | 589 | | | (909) | | 2,027 | 771 | 1,256 |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended September 30, 2022 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Net income (loss) | $(1,227) | | $2,156 | | $(119) | | $72 | | $36 | | $11 | $(251) | $678 |
| Income tax expense | — | | — | | — | | — | | — | | — | 236 | 236 |
| Interest expense and related charges (a) | 4 | | (9) | | — | | (2) | | 1 | | 1 | 76 | 71 |
| Depreciation and amortization (b) | 36 | | 158 | | 187 | | (4) | | 19 | | (1) | 18 | 413 |
| EBITDA before Adjustments | (1,187) | | 2,305 | | 68 | | 66 | | 56 | | 11 | 79 | 1,398 |
| Unrealized net (gain) loss resulting from hedging transactions | 1,203 | | (1,436) | | 68 | | (22) | | (74) | | (59) | — | (320) |
First 8 of 15 rows. The CSV has all of them.
Table 70 after “Includes the application of future bill credits to large commercial and industrial customers that curtailed their usage during Winter Storm ”
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| Three Months Ended September 30, 2021 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Net income (loss) | $779 | | $4 | | $(233) | | $(18) | | $(248) | | $(133) | $(141) | $10 |
| Income tax expense | 2 | | — | | | | | | — | | 29 | 31 | |
| Interest expense and related charges (a) | 2 | | (3) | | 5 | | (1) | | 1 | | 1 | 119 | 124 |
| Depreciation and amortization (b) | 53 | | 200 | | 164 | | 15 | | 27 | | 13 | 17 | 489 |
| EBITDA before Adjustments | 836 | | 201 | | (64) | | (4) | | (220) | | (119) | 24 | 654 |
| Unrealized net (gain) loss resulting from hedging transactions | (739) | | 654 | | 254 | | 39 | | 279 | | 102 | — | 589 |
First 8 of 17 rows. The CSV has all of them.
Table 71 after “Includes the following of the Winter Storm Uri impacts, which we believe are not reflective of our operating performance: future bill credit”
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| Nine Months Ended September 30, 2022 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Net income (loss) | $2,099 | | $(1,455) | | $(910) | | $36 | | $(583) | | $(96) | $(53) | $(962) |
| Income tax benefit | — | | — | | — | | — | | — | | — | (262) | (262) |
| Interest expense and related charges (a) | 8 | | (20) | | 3 | | (3) | | 2 | | 2 | 194 | 186 |
| Depreciation and amortization (b) | 109 | | 467 | | 545 | | 26 | | 56 | | 22 | 52 | 1,277 |
| EBITDA before Adjustments | 2,216 | | (1,008) | | (362) | | 59 | | (525) | | (72) | (69) | 239 |
| Unrealized net (gain) loss resulting from hedging transactions | (1,602) | | 2,260 | | 805 | | 49 | | 532 | | (17) | — | 2,027 |
First 8 of 15 rows. The CSV has all of them.
| Nine Months Ended September 30, 2021 | | | | | | | | | | | | |
| Retail | Texas | | East | West | Sunset | | Asset Closure | Eliminations / Corporate and Other | Vistra Consolidated | | | |
| Net income (loss) | $2,677 | | $(3,651) | | $(332) | | $(62) | | $(488) | | $(373) | $235 | $(1,994) |
| Income tax expense (benefit) | 2 | | — | | — | | — | | — | | — | (571) | (569) |
| Interest expense and related charges (a) | 7 | | (10) | | 11 | | (9) | | 1 | | 1 | 287 | 288 |
| Depreciation and amortization (b) | 160 | | 523 | | 553 | | 30 | | 78 | | 21 | 51 | 1,416 |
| EBITDA before Adjustments | 2,846 | | (3,138) | | 232 | | (41) | | (409) | | (351) | 2 | (859) |
| Unrealized net (gain) loss resulting from hedging transactions | (2,840) | | 2,269 | | 407 | | 120 | | 593 | | 222 | — | 771 |
First 8 of 17 rows. The CSV has all of them.
Table 73 after “Three and Nine Months Ended September 30, 2022 Compared to Three and Nine Months Ended September 30, 2021”
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| Three Months Ended September 30, | Favorable (Unfavorable) Change | | Nine Months Ended September 30, | | Favorable (Unfavorable) Change | | | | | | |
| 2022 | 2021 | | | 2022 | | 2021 | | | | | |
| Operating revenues: | | | | | | | | | | | | |
| Revenues in ERCOT | $2,422 | | $1,917 | | | $505 | | | $5,887 | | $4,521 | $1,366 |
| Revenues in Northeast/Midwest | 609 | | 624 | | | (15) | | | 1,800 | | 1,715 | 85 |
| Amortization expense | 2 | | 2 | | | — | | | 1 | | (1) | 2 |
| Unrealized net gains (losses) on hedging activities (a) | 225 | | (383) | | | 608 | | | (812) | | (406) | (406) |
| Total operating revenues | 3,258 | | 2,160 | | | 1,098 | | | 6,876 | | 5,829 | 1,047 |
First 8 of 25 rows. The CSV has all of them.
Table 74 after “The following table presents changes in net income and Adjusted EBITDA for the three and nine months ended September 30, 2022 compared to th”
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| Three Months Ended September 30, 2022 Compared to 2021 | Nine Months Ended September 30, 2022 Compared to 2021 | |
| Winter Storm Uri, including bill credits | $(45) | | $453 |
| Timing of commodity costs, including self-help gains in 2021, intra-year seasonality and backwardation on multi-year customer contracts | (9) | | (232) |
| Higher margins reflecting ERCOT performance and favorable weather in 2022 | 37 | | 46 |
| Other primarily driven by higher bad debt expense due to higher revenues in 2022 | (50) | | (79) |
| Change in Adjusted EBITDA | $(67) | | $188 |
| Unfavorable impact of unrealized net gains on hedging activities | (1,942) | | (1,238) |
| Future bill credits and other costs related to Winter Storm Uri | 1 | | 449 |
First 8 of 11 rows. The CSV has all of them.
Table 75 after “Three Months Ended September 30, 2022 Compared to Three Months Ended September 30, 2021”
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| Three Months Ended September 30, | | | | | | | | | | | | | |
| Texas | East | | West | Sunset | | | | | | | | | |
| 2022 | 2021 | | 2022 | 2021 | 2022 | | 2021 | 2022 | 2021 | | | | |
| Operating revenues: | | | | | | | | | | | | | | |
| Electricity sales | $700 | | $462 | | $757 | | $411 | | $178 | | $134 | | $112 | $183 |
| Capacity revenue from ISO/RTO | — | | — | | 14 | | (13) | | — | | 1 | | — | 39 |
| Sales to affiliates | 1,442 | | 1,078 | | 458 | | 413 | | 2 | | 1 | | 120 | 113 |
| Rolloff of unrealized net gains (losses) representing positions settled in the current period | 253 | | (17) | | 57 | | (56) | | 54 | | 55 | | 174 | 45 |
First 8 of 33 rows. The CSV has all of them.
| Three Months Ended September 30, | | | Three Months Ended September 30, | | | | | | |
| 2022 | | 2021 | | | 2022 | | 2021 | | |
| Market pricing | | | | | Average Market On-Peak Power Prices ($MWh) (b): | | | | | |
| Average ERCOT North power price ($/MWh) | $100.54 | | | $38.64 | | | PJM West Hub | $111.21 | | $51.37 |
| | AEP Dayton Hub | $106.07 | | | $50.29 | | | | |
| Average NYMEX Henry Hub natural gas price ($/MMBtu) | $7.96 | | | $4.27 | | | NYISO Zone C | $87.63 | | $43.95 |
| | Massachusetts Hub | $99.52 | | | $52.69 | | | | |
| Average natural gas price (a): | | | | | Indiana Hub | $109.24 | | | $51.59 | |
First 8 of 10 rows. The CSV has all of them.
Table 77 after “The following table presents changes in net income (loss) and Adjusted EBITDA for the three months ended September 30, 2022 compared to the ”
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| Three Months Ended September 30, 2022 Compared to 2021 | | | | | |
| Texas | East | | West | Sunset | |
| Favorable/(unfavorable) change in revenue net of fuel | $61 | | $(56) | | $8 | $(48) |
| Winter Storm Uri impact | 3 | | — | | (1) | — |
| Favorable/(unfavorable) change in other operating costs | (32) | | (1) | | 2 | (8) |
| Favorable/(unfavorable) change in selling, general and administrative expenses | (18) | | 2 | | — | (5) |
| Other | 1 | | — | | — | 1 |
| Change in Adjusted EBITDA | $15 | | $(55) | | $9 | $(60) |
First 8 of 16 rows. The CSV has all of them.
Table 78 after “Nine Months Ended September 30, 2022 Compared to Nine Months Ended September 30, 2021”
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| Nine Months Ended September 30, | | | | | | | | | | | | | |
| Texas | East | | West | Sunset | | | | | | | | | |
| 2022 | 2021 | | 2022 | 2021 | 2022 | | 2021 | 2022 | 2021 | | | | |
| Operating revenues: | | | | | | | | | | | | | | |
| Electricity sales | $1,302 | | $1,502 | | $1,975 | | $986 | | $405 | | $302 | | $323 | $530 |
| Capacity revenue from ISO/RTO | — | | — | | 4 | | (14) | | — | | 1 | | 63 | 99 |
| Sales to affiliates | 2,746 | | 2,310 | | 1,371 | | 1,178 | | 5 | | 3 | | 353 | 293 |
| Rolloff of unrealized net gains (losses) representing positions settled in the current period | 441 | | (170) | | (12) | | (24) | | 52 | | 44 | | 260 | 20 |
First 8 of 33 rows. The CSV has all of them.
| Nine Months Ended September 30, | | | Nine Months Ended September 30, | | | | | | |
| 2022 | | 2021 | | | 2022 | | 2021 | | |
| Market pricing | | | | | Average Market On-Peak Power Prices ($MWh) (b): | | | | | |
| Average ERCOT North power price ($/MWh) | $67.08 | | | $186.71 | | | PJM West Hub | $87.53 | | $39.95 |
| | AEP Dayton Hub | $83.66 | | | $40.15 | | | | |
| Average NYMEX Henry Hub natural gas price ($/MMBtu) | $6.66 | | | $3.52 | | | NYISO Zone C | $70.09 | | $31.94 |
| | Massachusetts Hub | $95.91 | | | $46.96 | | | | |
| Average natural gas price (a): | | | | | Indiana Hub | $86.77 | | | $43.99 | |
First 8 of 10 rows. The CSV has all of them.
Table 80 after “The following table presents changes in net income (loss) and Adjusted EBITDA for the nine months ended September 30, 2022 compared to the n”
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| Nine Months Ended September 30, 2022 Compared to 2021 | | | | | |
| Texas | East | | West | Sunset | |
| Favorable/(unfavorable) change in revenue net of fuel | $141 | | $(72) | | $31 | $(106) |
| Winter Storm Uri impact | 1,551 | | (50) | | — | (17) |
| Unfavorable change in other operating costs | (85) | | (8) | | (7) | (34) |
| Favorable/(unfavorable) change in selling, general and administrative expenses | (34) | | 7 | | 5 | (11) |
| Other | (2) | | — | | — | 14 |
| Change in Adjusted EBITDA | $1,571 | | $(123) | | $29 | $(154) |
First 8 of 16 rows. The CSV has all of them.
Table 81 after “Three and Nine Months Ended September 30, 2022 Compared to Three and Nine Months Ended September 30, 2021”
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| Three Months Ended September 30, | Favorable (Unfavorable) Change | | Nine Months Ended September 30, | | Favorable (Unfavorable) Change | | | | |
| 2022 | 2021 | | | 2022 | | 2021 | | | |
| Operating revenues | $68 | | $(60) | | | $128 | | $296 | $(79) | $375 |
| Fuel, purchased power costs and delivery fees | (27) | | (14) | | | (13) | | (248) | (74) | (174) |
| Operating costs | $(25) | | $(40) | | | $15 | | $(103) | $(148) | $45 |
| Depreciation and amortization | 1 | | (13) | | | 14 | | (22) | (21) | (1) |
| Selling, general and administrative expenses | (11) | | (11) | | | — | | (30) | (38) | 8 |
| Impairment of long-lived assets | — | | — | | | — | | — | (38) | 38 |
First 8 of 16 rows. The CSV has all of them.
Table 82 after “The table below summarizes the changes in commodity contract assets and liabilities for the nine months ended September 30, 2022 and 2021. T”
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| Nine Months Ended September 30, | | |
| 2022 | 2021 | |
| Commodity contract net liability at beginning of period | $(866) | | $(75) |
| Settlements/termination of positions (a) | 1,166 | | (202) |
| Changes in fair value of positions in the portfolio (b) | (3,193) | | (569) |
| Other activity (c) | 79 | | (116) |
| Commodity contract net liability at end of period | $(2,814) | | $(962) |
Table 83 after “— The following table presents the net commodity contract liability arising from recognition of fair values at September 30, 2022, scheduled”
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| Maturity dates of unrealized commodity contract net liability at September 30, 2022 | | | | | | | |
| Source of fair value | Less than 1 year | 1-3 years | | 4-5 years | Excess of 5 years | Total | | |
| Prices actively quoted | $(882) | | $(643) | | $(1) | | $— | $(1,526) |
| Prices provided by other external sources | (147) | | (114) | | 4 | | — | (257) |
| Prices based on models | (377) | | (509) | | (104) | | (41) | (1,031) |
| Total | $(1,406) | | $(1,266) | | $(101) | | $(41) | $(2,814) |
Table 84 after “Cash used in investing activities totaled $886 million and $843 million for the nine months ended September 30, 2022 and 2021, respectively.”
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| Nine Months Ended September 30, | | |
| 2022 | 2021 | |
| Capital expenditures, including LTSA prepayments | $471 | | $437 |
| Nuclear fuel purchases | $173 | | $30 |
| Growth and development expenditures | $265 | | $323 |
| Capital expenditures | $909 | | $790 |
Table 85 after “The following table summarizes changes in available liquidity for the nine months ended September 30, 2022:”
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| September 30, 2022 | December 31, 2021 | | Change | |
| Cash and cash equivalents | $535 | | $1,325 | | $(790) |
| Vistra Operations Credit Facilities — Revolving Credit Facility | 1,202 | | 1,254 | | (52) |
| Vistra Operations — Commodity-Linked Facility (a) | 1,701 | | — | | 1,701 |
| Total available liquidity (b) | $3,438 | | $2,579 | | $859 |
Table 86 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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| Nine Months Ended September 30, 2022 | Year Ended December 31, 2021 | |
| Month-end average VaR | $540 | | $424 |
| Month-end high VaR | $686 | | $684 |
| Month-end low VaR | $368 | | $222 |
Table 87 after “Including collateral posted to us by counterparties, our net Texas, East, Sunset and Asset Closure segments exposure was $1.007 billion, as ”
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| Exposure Before Credit Collateral | Credit Collateral | | Net Exposure | |
| Investment grade | $496 | | $25 | | $471 |
| Below investment grade or no rating | 598 | | 62 | | 536 |
| Totals | $1,094 | | $87 | | $1,007 |
Table 88 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) | |
| July 1 - July 31, 2022 | 4,210,102 | | $22.88 | | 4,210,102 | $408 |
| August 1 - August 31, 2022 | 6,646,358 | | $25.26 | | 6,646,358 | $1,491 |
| September 1 - September 30, 2022 | 5,941,503 | | $23.97 | | 5,941,503 | $1,348 |
| For the quarter ended September 30, 2022 | 16,797,963 | | $24.21 | | 16,797,963 | $1,348 |
Table 89 after “(a) Exhibits filed or furnished as part of Part II are:”
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| Exhibits | Previously Filed With File Number* | AsExhibit | | |
| (3(i)) | Articles of Incorporation | | | |
| 3.1 | 0001-38086 Form 8-K (filed May 4, 2020) | 3.1 | — | Restated Certificate of Incorporation of Vistra Energy Corp. (now known as Vistra Corp.) |
| 3.2 | 0001-38086 Form 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 | 0001-38086 Form 8-K (filed October 15, 2021) | 3.1 | — | Series A Preferred Stock Certificate of Designation, filed with the Secretary of State of Delaware on October 14, 2021 |
| 3.4 | 0001-38086 Form 8-K (filed December 13, 2021) | 3.1 | — | Series B Preferred Stock Certificate of Designation, filed with the Secretary of State of Delaware on December 9, 2021 |
| (3(ii)) | By-laws | | | |
| 3.3 | 001-38086 Form 10-K (Year ended December 31, 2021) (filed February 25, 2022) | 3.5 | — | Amended and Restated Bylaws of Vistra Corp., effective February 23, 2022 |
First 8 of 15 rows. The CSV has all of them.
| Exhibits | Previously Filed With File Number* | AsExhibit | | |
| (31) | Rule 13a-14(a) / 15d-14(a) Certifications | | | |
| 31.1 | ** | | — | Certification of James A. Burke, principal executive officer of Vistra Corp., pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
| 31.2 | ** | | — | Certification of Kristopher E. Moldovan, principal financial officer of Vistra Corp., pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
| (32) | Section 1350 Certifications | | | |
| 32.1 | *** | | — | Certification of James A. Burke, principal executive officer of Vistra Corp., pursuant to U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
| 32.2 | *** | | — | Certification of Kristopher E. Moldovan, principal financial officer of Vistra Corp., pursuant to U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
| (95) | Mine Safety Disclosures | | | |
First 8 of 17 rows. The CSV has all of them.