Vistra Corp

18. SUPPLEMENTARY FINANCIAL INFORMATION

Impairment of Long-Lived Assets

In the first quarter of 2023, we recognized an impairment loss of $49 million related to our Kincaid generation facility in Illinois as a result of a significant decrease in the projected operating margins of the facility, primarily driven by a decrease in projected power prices. The impairment is reported in our Sunset segment and includes write-downs of property, plant and equipment of $45 million, write-downs of inventory of $2 million and write-downs of operating lease right-of-use assets of $2 million.

In determining the fair value of the impaired asset group, we utilized the income approach described in ASC 820, Fair Value Measurement.

Interest Expense and Related Charges

The weighted average interest rate applicable to the Vistra Operations Credit Facilities, taking into account the interest rate swaps discussed in Note 11, was 5.56% and 4.70% as of March 31, 2024 and 2023.

Other Income and Deductions

(a)Includes interest, dividends, and net realized and unrealized gains and losses associated with the NDTs of the PJM nuclear facilities. Reported in the East segment.

(b)Reported in the West segment.

(c)Reported in Corporate and Other.

Restricted Cash

Trade Accounts Receivable

Gross trade accounts receivable as of March 31, 2024 and December 31, 2023 include unbilled retail revenues of $618 million and $614 million, respectively.

Allowance for Uncollectible Accounts Receivable

Inventories by Major Category

Investments

Property, Plant and Equipment

Depreciation expenses totaled $367 million and $323 million for three months ended March 31, 2024 and 2023, respectively.

Other Noncurrent Liabilities and Deferred Credits

The balance of other noncurrent liabilities and deferred credits consists of the following:

(a)Includes future bill credits related to large commercial and industrial customers that curtailed during Winter Storm Uri.

(b)As of March 31, 2024 and December 31, 2023, the fair value of the assets contained in the Comanche Peak NDT was higher than the carrying value of our ARO related to our nuclear generation plant decommissioning and recorded as a regulatory liability of $322 million and $209 million, respectively, in other noncurrent liabilities and deferred credits.

Fair Value of Debt

We determine fair value in accordance with accounting standards as discussed in Note 12. We obtain security pricing from an independent party who uses broker quotes and third-party pricing services to determine fair values. Where relevant, these prices are validated through subscription services, such as Bloomberg.

Supplemental Cash Flow Information

The following table reconciles cash, cash equivalents and restricted cash reported in our condensed consolidated statements of cash flows to the amounts reported in our condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023:

The following table summarizes our supplemental cash flow information for the three months ended March 31, 2024 and 2023. See Note 2 for other non cash investing and financing activity.

For the three months ended March 31, 2024 and 2023, we paid state income taxes of $3 million and $1 million respectively, and received state tax refunds of $1 million and $7 million, respectively.