Vistra Corp

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

VST$133.92+7.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

PAGE
Glossary of Terms and Abbreviations	iii
Forward-Looking Statements	vii
Industry and Market Information	ix
PART I.
Item 1.	BUSINESS	1
		Market Discussion	1
		Business Strategy	6
		Human Capital Resources	6
		Environmental Regulations and Related Considerations	9
		Corporate Information	17
		Available Information	17
Item 1A.	RISK FACTORS	18
Item 1B.	UNRESOLVED STAFF COMMENTS	44
Item 1C.	CYBERSECURITY	45
Item 2.	PROPERTIES	46
Item 3.	LEGAL PROCEEDINGS	48
Item 4.	MINE SAFETY DISCLOSURES	48
PART II.
Item 5.	MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES	49
Item 6.	[RESERVED]	50
Item 7.	MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION, AND RESULTS OF OPERATIONS	50
		Significant Activities and Events, and Items Influencing Future Performance	50
		Critical Accounting Estimates	55
		Results of Operations	59
		Financial Condition	67
		Commitments and Contingencies	72
		Changes in Accounting Standards	72
Item 7A.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	73
Item 8.	FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA	77
		Consolidated Statements of Operations	79
		Consolidated Statements of Comprehensive Income (Loss)	79
		Consolidated Statements of Cash Flows	80
		Consolidated Balance Sheets	82
		Consolidated Statement of Changes in Equity	84
		Notes to Consolidated Financial Statements:	85
			1. Business and Significant Accounting Policies	85
			2. Transaction Agreement	91
			3. Development of Generation Facilities	93
			4. Retirement of Generation Facilities	94
			5. Revenue	95
			6. Goodwill and Identifiable Intangible Assets and Liabilities	99
			7. Income Taxes	102
			8. Tax Receivable Agreement Obligation	105

PART III.
			9. Earnings Per Share	107
			10. Accounts Receivable Financing	107
			11. Collateral Financing Agreement with Affiliate	108
			12. Debt	109
			13. Leases	117
			14. Commitments and Contingencies	119
			15. Equity	128
			16. Fair Value Measurements	132
			17. Commodity and Other Derivative Contractual Assets and Liabilities	135
			18. Pension and Other Postretirement Employee Benefits (OPEB)	139
			19. Stock-Based Compensation	146
			20. Related Party Transactions	148
			21. Segment Information	149
			22. Supplementary Financial Information	150
Item 9.	CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE	157
Item 9A.	CONTROLS AND PROCEDURES	157
Item 9B.	OTHER INFORMATION	159
Item 9C.	DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTION	159
Item 10.	DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE	160
Item 11.	EXECUTIVE COMPENSATION	160
Item 12.	SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS	160
Item 13.	CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE	160
Item 14.	PRINCIPAL ACCOUNTANT FEES AND SERVICES	160
PART IV.
Item 15.	EXHIBITS AND FINANCIAL STATEMENT SCHEDULES	161
Signatures				180

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