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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

TLN$338.64+7.1%Stored close · as of Nov 6, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number:001-37388

Talen Energy Corporation

(Exact name of registrant as specified in its charter)

Delaware47-1197305
(State or other jurisdiction ofincorporation or organization)(IRS EmployerIdentification No.)

2929 Allen Pkwy, Suite 2200

Houston, TX 77019

(Address of principal executive offices) (Zip Code)

(888)211-6011

(Registrant’s telephone number, including area code)

Not applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTradingSymbol(s)Name of each exchangeon which registered
Common stock, par value $0.001 per shareTLNThe Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☐Large accelerated filer☐Accelerated filer☐Emerging growth company
☒Non-accelerated filer☐Smaller reporting company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ☐ No ☒

As of November 14, 2024, the registrant had 50,855,417 shares outstanding of common stock, par value $0.001 per share.

QUARTERLY REPORT ON FORM 10-Q

TABLE OF CONTENTS

Page
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION1
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)
Condensed Consolidated Statements of Operations2
Condensed Consolidated Statements of Comprehensive Income (Loss)3
Condensed Consolidated Balance Sheets4
Condensed Consolidated Statements of Cash Flows5
Condensed Consolidated Statements of Equity7
Notes to the Interim Financial Statements (Unaudited)
1. Organization and Operations9
2. Basis of Presentation and Summary of Significant Accounting Policies9
3. Risk Management, Derivative Instruments and Hedging Activities10
4. Revenue13
5. Income Taxes14
6. Inventory14
7. Nuclear Decommissioning Trust Funds15
8. Property, Plant and Equipment15
9. Asset Retirement Obligations and Accrued Environmental Costs16
10. Commitments and Contingencies17
11. Long-Term Debt and Other Credit Facilities21
12. Fair Value23
13. Postretirement Benefit Obligations24
14. Earnings Per Share25
15. Stockholders' Equity25
16. Supplemental Cash Flow Information27
17. Acquisitions and Divestitures28
18. Segments28
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Overview31
Recent Developments31
Factors Affecting Our Financial Condition and Results of Operations32
Results of Operations34
Liquidity and Capital Resources38
Cash Flow Activities40
Contractual Obligations and Commitments41
Non-GAAP Financial Measure41
Critical Accounting Policies and Estimates42
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK43
ITEM 4. CONTROLS AND PROCEDURES43
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS44
ITEM 1A. RISK FACTORS44
ITEM 2. UNREGISTERED SALES OF EQUITY AND USE OF PROCEEDS44
ITEM 3. DEFAULTS UPON SENIOR SECURITIES44
ITEM 4. MINE SAFETY DISCLOSURES44
ITEM 5. OTHER INFORMATION44
ITEM 6. EXHIBITS45
GLOSSARY OF TERMS AND ABBREVIATIONS46
SIGNATURES50
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.