Talen Energy Corp
For the period ended Sep 30, 2024. Filed Nov 14, 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.
Sep 30, 2024 · Filed Nov 14, 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 was:
| Successor · Predecessor | |||
|---|---|---|---|
| Nine Months Ended September 30, 2024 | May 18 through September 30, 2023 | January 1 through May 17, 2023 | |
| Cash paid during the period | |||
| Interest and other finance charges, net of capitalized interest (a) | $159 | $30 | $283 |
| Income taxes, net | 14 | 9 | 7 |
| Unrealized (gain) loss on derivative instruments included on the Statements of Cash Flows | |||
| Commodity contracts | $(58) | $43 | $63 |
| Interest rate swap contracts (interest expense) | (1) | 6 | 2 |
| Unrealized (gain) loss on derivative instruments | $(59) | $49 | $65 |
| Depreciation, amortization and accretion included on the Statements of Cash Flows | |||
| Depreciation, amortization and accretion | $225 | $94 | $200 |
| Other | (9) | (5) | 8 |
| Depreciation, amortization and accretion | $216 | $89 | $208 |
| Reconciliation of other non-cash operating activities | |||
| Stock-based compensation | $24 | $11 | $— |
| Derivative option premium amortization | 16 | 31 | 29 |
| Bitcoin revenue | (91) | (44) | (27) |
| Debt restructuring (gain) loss, net | (9) | — | — |
| Other | 2 | 25 | 5 |
| Total | $(58) | $23 | $7 |
| Non-cash investing activities | |||
| Capital expenditure accrual increase (decrease) | $(16) | $(8) | $(28) |
| Non-cash financing activities | |||
| Non-cash increase to PP&E and decrease to other current assets for contribution of Bitcoin miners to Nautilus (b) | $— | $— | $14 |
| Non-cash decrease to PP&E and decrease to noncontrolling interest for distribution of Bitcoin miners to TeraWulf | — | — | 3 |
| Non-cash increase to PP&E and increase to noncontrolling interest for contribution of Bitcoin miners by TeraWulf (b) | — | — | 38 |
(a)Capitalized interest totaled $3 million for the nine months ended September 30, 2024 (Successor); $7 million for May 18 through September 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 Bitcoin 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 | ||
|---|---|---|
| September 30, 2024 | December 31, 2023 | |
| Cash and cash equivalents | $648 | $400 |
| Restricted cash and cash equivalents: | ||
| TES TLC debt restricted deposits | 472 | 472 |
| Nautilus project restricted deposits | 9 | 10 |
| Commodity exchange margin deposits | 3 | — |
| Cumulus Digital Holdings restricted deposits | — | 19 |
| Restricted cash and cash equivalents | 484 | 501 |
| Total | $1,132 | $901 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.