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
Extracted filing text, with the paragraph anchors used by the comparison.
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7. Nuclear Decommissioning Trust Funds
- Nuclear Decommissioning Trust Funds
| Successor | ||||||||
|---|---|---|---|---|---|---|---|---|
| June 30, 2024 | December 31, 2023 | |||||||
| AmortizedCost | UnrealizedGains | UnrealizedLosses | FairValue | AmortizedCost | UnrealizedGains | UnrealizedLosses | FairValue | |
| Cash equivalents | $13 | $— | $— | $13 | $9 | $— | $— | $9 |
| Equity securities | 498 | 636 | 56 | 1,078 | 491 | 575 | 53 | 1,013 |
| Debt securities | 600 | 3 | 5 | 598 | 570 | 10 | 1 | 579 |
| Receivables (payables), net | (30) | — | — | (30) | (26) | — | — | (26) |
| NDT funds | $1,081 | $639 | $61 | $1,659 | $1,044 | $585 | $54 | $1,575 |
See Note 12 for additional information on the NDT fair value. There were no available-for-sale debt securities with credit losses as of June 30, 2024 (Successor) and December 31, 2023 (Successor).
As of June 30, 2024 (Successor), there was no intent to sell available-for-sale debt securities with unrealized losses, and it is not more likely than not that each of these investments will be required to be sold before the recovery of its amortized cost. The aggregate related fair value of available-for-sale debt securities with unrealized losses as of June 30, 2024 (Successor) were:
| Fair Value | UnrealizedLosses | |
|---|---|---|
| Corporate debt securities | $78 | $(1) |
| Municipal debt securities | 64 | (1) |
| U.S. Government debt securities | 183 | (3) |
| Total debt securities in unrealized loss position | $325 | $(5) |
Securities in an unrealized loss position for a duration of one year or longer as of June 30, 2024 (Successor):
| Fair Value | UnrealizedLosses | |
|---|---|---|
| Municipal debt securities | $49 | $(1) |
| U.S. Government debt securities | 105 | (2) |
| Total debt securities in unrealized loss position for one year or longer (a) | $154 | $(3) |
(a)Excludes corporate debt securities which, in the aggregate, had a fair value of $23 million, as the unrealized losses were non-material.
The contractual maturities for available-for-sale debt securities presented on the Consolidated Balance Sheets were:
| Successor | ||
|---|---|---|
| June 30, 2024 | December 31, 2023 | |
| Maturities within one year | $75 | $105 |
| Maturities within two to five years | 177 | 194 |
| Maturities thereafter | 346 | 280 |
| Debt securities, fair value | $598 | $579 |
The sales proceeds, gains, and losses for available-for-sale debt securities for the periods were:
| Successor · Predecessor · Successor · Predecessor | ||||||
|---|---|---|---|---|---|---|
| Three Months Ended June 30, 2024 | May 18 through June 30, 2023 | April 1 through May 17, 2023 | Six Months Ended June 30, 2024 | May 18 through June 30, 2023 | January 1 through May 17, 2023 | |
| Sales proceeds of NDT funds investments (a) | $535 | $271 | $243 | $1,034 | $271 | $839 |
| Gross realized gains | 2 | — | 2 | 5 | — | 7 |
| Gross realized losses | (3) | (2) | (2) | (6) | (2) | (12) |
(a)Sales proceeds are used to pay income taxes and trust management fees. Remaining proceeds are reinvested in the NDT.
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