Talen Energy Corp
For the period ended Jun 30, 2024. Filed Aug 13, 2024.
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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.
Jun 30, 2024 · Filed Aug 13, 2024
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16. Supplemental Cash Flow Information
- Supplemental Cash Flow Information
Supplemental information for the Consolidated Statements of Cash Flows for the periods were:
| Successor · Predecessor | |||
|---|---|---|---|
| Six Months Ended June 30, 2024 | May 18 through June 30, 2023 | January 1 through May 17, 2023 | |
| Cash paid (received) during the period | |||
| Interest and other finance charges, net of capitalized interest (a) | $124 | $2 | $283 |
| Income taxes, net | 9 | 3 | 7 |
| Non-cash investing and operating activities | |||
| Capital expenditure accrual increase (decrease) | (16) | 1 | (28) |
| Depreciation, amortization and accretion included on the Statements of Operations: | |||
| Depreciation, amortization and accretion | 150 | 28 | 200 |
| Amortization of deferred finance costs and original issuance discounts (interest expense) (b) | 2 | 1 | 8 |
| Other | (8) | (2) | — |
| Total depreciation, amortization and accretion | $144 | $27 | $208 |
| Non-cash financing/investing activities | |||
| Non-cash increase to PP&E and decrease to other current assets for transfer of miners by Cumulus Coin (b) | $— | $— | 14 |
| Non-cash decrease to PP&E and decrease to noncontrolling interest for transfer of miners to TeraWulf | — | — | 3 |
| Non-cash increase to PP&E and increase to noncontrolling interest for transfer of miners by TeraWulf (b) | — | — | 38 |
| Unrealized (gain) loss on derivatives: | |||
| Commodity contracts | 44 | (41) | 63 |
| Interest rate swap contracts | (8) | 2 | 2 |
| Total unrealized (gain) loss on derivatives | $36 | $(39) | $65 |
| Operating activities reconciliation adjustments, other: | |||
| Net periodic defined benefit cost | $— | $1 | $(3) |
| Stock-based compensation | 16 | — | — |
| Derivative option premium amortization | 4 | 9 | 29 |
| Bitcoin revenue | (71) | (15) | (27) |
| Nonrecourse paid-in-kind interest | — | 3 | 9 |
| Mark-to-market on warrants | — | 14 | — |
| Debt restructuring (gain) loss, net | (8) | — | — |
| Other | 1 | 5 | (1) |
| Total | $(58) | $17 | $7 |
(a)Capitalized interest totaled $3 million for the six months ended June 30, 2024 (Successor); $3 million for May 18 through June 30, 2023 (Successor); and $12 million for January 1 through May 17, 2023 (Predecessor).
(b)In 2023, each of the joint venture partners of Nautilus made non-cash contributions to Nautilus of cryptocurrency miners that increased PP&E.
Cash and Restricted Cash
The following provides a reconciliation of “Cash and cash equivalents” and “Restricted cash and cash equivalents” presented on the Consolidated Statements of Cash Flows to line items within the Consolidated Balance Sheets:
| Successor | ||
|---|---|---|
| June 30, 2024 | December 31, 2023 | |
| Cash and cash equivalents | $632 | $400 |
| Restricted cash and cash equivalents: | ||
| TES TLC debt restricted deposits | 472 | 472 |
| Nautilus project restricted deposits | 8 | 10 |
| Commodity exchange margin deposits | 2 | — |
| Cumulus Digital Holdings restricted deposits | 1 | 19 |
| Restricted cash and cash equivalents | 483 | 501 |
| Total | $1,115 | $901 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.