Talen Energy Corp
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
View on SEC.govAbout this filing
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
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Equity
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED)
| (Millions of Dollars, except share data) | Common stock shares (a) | Additional paid-in capital | Accumulated earnings (deficit) | AOCI | Treasury Stock | Noncontrolling Interest | Total Equity |
|---|---|---|---|---|---|---|---|
| December 31, 2023 (Successor) | 59,029 | $2,346 | $134 | $(23) | $— | $77 | $2,534 |
| Net income (loss) | — | — | 294 | — | — | 25 | 319 |
| Other comprehensive income (loss) | — | — | — | (4) | — | — | (4) |
| Share repurchases | (493) | — | — | — | (39) | — | (39) |
| Purchase of noncontrolling interest (c) | — | (15) | — | — | — | (24) | (39) |
| Cash distributions (d) | — | — | — | — | — | (1) | (1) |
| Non-cash distributions (b) | — | — | — | — | — | (12) | (12) |
| Stock-based compensation | — | 8 | — | — | — | — | 8 |
| March 31, 2024 (Successor) | 58,536 | $2,339 | $428 | $(27) | $(39) | $65 | $2,766 |
| Net income (loss) | — | — | 454 | — | — | 4 | 458 |
| Other comprehensive income (loss) | — | — | — | (2) | — | — | (2) |
| Share repurchases | (5,281) | — | — | — | (622) | — | (622) |
| Retirement of treasury stock | — | (227) | (434) | — | 661 | — | — |
| Cash settlement of restricted stock units | — | (28) | — | — | — | — | (28) |
| Non-cash distributions (b) | — | — | — | — | — | (8) | (8) |
| Stock-based compensation | — | 8 | — | — | — | — | 8 |
| June 30, 2024 (Successor) | 53,255 | $2,092 | $448 | $(29) | $— | $61 | $2,572 |
| Net income (loss) | — | — | 168 | — | — | — | 168 |
| Other comprehensive income (loss) | — | — | — | 24 | — | — | 24 |
| Share repurchases | (2,560) | — | — | — | (304) | — | (304) |
| Retirement of treasury stock | — | (100) | (204) | — | 304 | — | — |
| Cash settlement of restricted stock units | — | (3) | — | — | — | — | (3) |
| Exercise of warrants | 160 | (16) | — | — | — | — | (16) |
| Non-cash distributions (b) | — | — | — | — | — | (3) | (3) |
| Stock-based compensation | — | 7 | — | — | — | — | 7 |
| September 30, 2024 (Successor) | 50,855 | $1,980 | $412 | $(5) | $— | $58 | $2,445 |
(a)Shares in thousands.
(b)Related primarily to distributions of Bitcoin to TeraWulf.
(c)TES acquisition of remaining noncontrolling interests in Cumulus Digital Holdings. See Note 15 for additional information.
(d)Distributions to noncontrolling interest owners of Cumulus Digital Holdings.
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED)
| (Millions of Dollars, except share data) | Common stock shares (a) | Additional paid-in capital | Accumulated earnings (deficit) | AOCI | Member's Equity | Noncontrolling Interest | Total Equity |
|---|---|---|---|---|---|---|---|
| December 31, 2022 (Predecessor) | — | $— | $— | $— | $(573) | $91 | $(482) |
| Net income (loss) | — | — | — | — | 48 | (2) | 46 |
| Other comprehensive income (loss) | — | — | — | — | 9 | — | 9 |
| Non-cash contributions (c) | — | — | — | — | — | 38 | 38 |
| Non-cash distribution, net (d) | — | — | — | — | — | (2) | (2) |
| March 31, 2023 (Predecessor) | — | $— | $— | $— | $(516) | $125 | $(391) |
| Net income (loss) | — | — | — | — | 431 | (12) | 419 |
| Other comprehensive income (loss) | — | — | — | — | (3) | — | (3) |
| Cancellation of member’s equity (b) | — | — | — | — | 88 | — | 88 |
| Issuance of member’s equity (b) | — | — | — | — | 2,313 | — | 2,313 |
| Issuance of warrants (b) | — | — | — | — | 8 | — | 8 |
| Common equity from member's equity exchange | 59,029 | 2,321 | — | — | (2,321) | — | — |
| Non-cash distributions (b) | — | — | — | — | — | (3) | (3) |
| May 17, 2023 (Predecessor) | 59,029 | $2,321 | $— | $— | $— | $110 | $2,431 |
| May 18, 2023 (Successor) | 59,029 | $2,321 | $— | $— | $— | $110 | $2,431 |
| Net income (loss) | — | — | 29 | — | — | 2 | 31 |
| Other comprehensive income (loss) | — | — | — | (3) | — | — | (3) |
| Non-cash distribution (d) | — | — | — | — | — | (3) | (3) |
| Other | — | 4 | — | — | — | — | 4 |
| June 30, 2023 (Successor) | 59,029 | $2,325 | $29 | $(3) | $— | $109 | $2,460 |
| Net income (loss) | — | — | (77) | — | — | 1 | (76) |
| Other comprehensive income (loss) | — | — | — | (9) | — | — | (9) |
| Repurchase of NCI | — | 5 | — | — | — | (24) | (19) |
| Non-cash distributions (d) | — | — | — | — | — | (5) | (5) |
| Other | — | 7 | — | — | — | — | 7 |
| September 30, 2023 (Successor) | 59,029 | $2,337 | $(48) | $(12) | $— | $81 | $2,358 |
(a)Shares in thousands.
(b)Pursuant to the Plan of Reorganization: (i) existing equity interests were canceled; and (ii) new equity interests and equity-classified warrants were issued.
(c)Relates to contributions of cryptocurrency mining machines by TeraWulf to Nautilus.
(d)Relates primarily to distributions of cryptocurrency mining machines or Bitcoin to TeraWulf.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.