Vistra Corp.

For the period ended Sep 30, 2026. Filed Nov 9, 2026.

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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, 2026 · Filed Nov 9, 2026

VST$131.18-2.0%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows

VISTRA CORP.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) (Millions of Dollars)
	Nine Months Ended September 30,
	2026	2025
Cash flows — operating activities:
Net income	$2,474	$711
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization	2,338	2,225
Deferred income tax expense, net	589	68
Impairment of long-lived and other assets	269	73
Unrealized net (gain) loss from mark-to-market valuations of commodities	(810)	367
Unrealized net (gain) loss from mark-to-market valuations of interest rate swaps	(31)	84
Unrealized net (gain) loss from nuclear decommissioning trusts	58	(164)
Asset retirement obligation accretion expense	96	100
Bad debt expense	164	152
Stock-based compensation expense	96	82
Involuntary conversion gain	(102)	(80)
Other, net	16	36
Changes in operating assets and liabilities:
Margin deposits, net	(184)	(361)
Accrued interest	176	32
Accrued taxes other than income	(37)	(19)
Accrued employee incentive	(52)	(106)
Other operating assets and liabilities	(730)	(562)
Cash provided by operating activities	4,330	2,638
Cash flows — investing activities:
Capital expenditures, including nuclear fuel purchases and LTSA prepayments	(2,319)	(1,916)
Lotus acquisition purchase price adjustment	6	—
Proceeds from sales of nuclear decommissioning trust fund securities	4,370	4,120
Investments in nuclear decommissioning trust fund securities	(4,371)	(4,138)
Proceeds from sales of environmental allowances	153	57
Purchases of environmental allowances	(251)	(511)
Insurance proceeds for recovery of damaged property, plant, and equipment	246	198
Proceeds from sales of property, plant, and equipment, including nuclear fuel	55	21
Other, net	88	7
Cash used in investing activities	(2,023)	(2,162)
Cash flows — financing activities:
Issuances of debt	7,985	424
Repayments/repurchases of debt	(3,862)	(764)
Net borrowings (repayments) under accounts receivable financing	(1,225)	475
Borrowings under Revolving Credit Facility	400	150
Repayments under Revolving Credit Facility	(780)	(150)
Borrowings under Commodity-Linked Facility	—	987
Repayments under Commodity-Linked Facility	(1,420)	(987)
Debt issuance costs	(94)	(2)
Stock repurchases	(917)	(776)
Dividends paid to common stockholders	(231)	(229)
Dividends paid to preferred stockholders	(117)	(117)
Tax withholding on stock-based compensation	(73)	(51)

VISTRA CORP.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) (Millions of Dollars)
	Nine Months Ended September 30,
	2026	2025
Principal payment on forward repurchase obligation	(19)	(41)
Other, net	—	21
Cash used in financing activities	(353)	(1,060)
Net change in cash, cash equivalents and restricted cash (current and noncurrent)	1,954	(584)
Cash, cash equivalents and restricted cash (current and noncurrent) — beginning balance	822	1,222
Cash, cash equivalents and restricted cash (current and noncurrent) — ending balance	$2,776	$638
Supplemental Cash Flow Information:
Cash payments related to:
Interest paid	$755	$799
Capitalized interest	(123)	(86)
Interest paid (net of capitalized interest)	$632	$713

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