Talen Energy Corp
For the period ended Mar 31, 2026. Filed May 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
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15. Stockholders' Equity
- Stockholders’ Equity
Share Repurchase Program
In September 2025, the Board of Directors approved an increase in the existing capacity of the Company’s SRP from $995 million to $2 billion and extended the expiration date from December 31, 2026 to December 31, 2028. These changes to the SRP became effective in November 2025 upon the completion of the Freedom and Guernsey Acquisitions. The remaining capacity under the SRP as of March 31, 2026 was $1.9 billion.
As of March 31, 2026, the Company has repurchased approximately 24% of TEC’s outstanding shares of common stock since their issuance in May 2023 for an aggregate $2.1 billion, exclusive of transaction costs and excise taxes.
Summary of activity under the SRP:
| Three Months Ended March 31, 2026 | Three Months Ended March 31, 2025 | |||||
|---|---|---|---|---|---|---|
| Number of Shares | Share Price (a) | Total Amount | Number of Shares | Share Price (a) | Total Amount | |
| Share repurchases | 300,000 | $336.42 | $101 | 452,130 | $186.24 | $85 |
| Share retirements | (300,000) | 336.42 | (101) | (452,130) | 186.24 | (85) |
(a)Weighted average price per share, including transaction costs and excise taxes.
As of March 31, 2026, all repurchased shares have been retired. See Note 1 to the Annual Financial Statements for the accounting policy related to treasury stock and retirement of treasury stock.
Accumulated Other Comprehensive Income
Changes in AOCI for the periods were:
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Beginning balance | $(4) | $(12) |
| Gains (losses) arising during the period | (9) | 6 |
| Reclassifications to Consolidated Statements of Operations | (2) | (2) |
| Income tax benefit (expense) | 4 | (2) |
| Other comprehensive income (loss) | (7) | 2 |
| Accumulated other comprehensive income (loss) | $(11) | $(10) |
The components of AOCI, net of tax, as of March 31, were:
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Available-for-sale securities unrealized gain (loss), net | $(4) | $— |
| Postretirement benefit prior service credits (costs), net | 11 | 13 |
| Postretirement benefit actuarial gain (loss), net | (18) | (23) |
| Accumulated other comprehensive income (loss) | $(11) | $(10) |
Reclassification adjustments from AOCI to the Consolidated Statements of Operations were non-material amounts for the three months ended March 31, 2026 and 2025.
The postretirement obligations components of AOCI are not presented in their entirety on the Consolidated Statements of Operations during the periods; rather, they are included in the computation of net periodic defined benefit costs (credits). See Note 12 for additional information.
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