extreme-weather-impacts/classified_data_10K

100

./filings/2012/INVX/2012-02-24_10-K_d265391d10k.htm

1,042,893

2,012

2012-02-24_10-K_d265391d10k.htm

2012-02-24

administrative or civil penalties, and criminal prosecution. Some environmental laws and regulations provide for joint and several strict liability for remediation of spills and releases of hazardous substances. In addition, we may be subject to claims alleging personal injury or property damage as a result of alleged exposure to hazardous substances, as well as damage to natural resources. These laws and regulations also may expose us to liability for the conduct of or conditions caused by others, or for our acts that were in compliance with all applicable laws and regulations at the time such acts were performed. Any of these laws and regulations could result in claims, fines or expenditures that could be material to results of operations, financial position and cash flows.

1,108

34,455

0

1

No

null

101

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

The challenges of the airline industry are numerous. It is one of the most heavily taxed industries, extremely capital and energy intensive and it has a unique susceptibility to economic downturns, inclement weather, international events, natural disasters and acts of terrorism. The highly competitive nature of the airline industry makes airline profits sensitive to even slight changes in fuel costs, average fare levels and passenger demand. The principal competitive factors in the airline industry are fares, customer service, routes served, flight schedules, types of aircraft, safety record and reputation, code-sharing and interline relationships, capacity,

1,288

51,975

0

1

0

No

null

102

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

In December 2009, the DOT issued a rule, which among other things, requires carriers not to permit domestic flights to remain on the tarmac for more than three hours (the “Tarmac Delay regulations”). The rule became effective in April 2010. Violators can be fined up to a maximum of $27,500 per passenger. The new rule also introduces requirements to disclose on-time performance and delay statistics for certain flights. This new rule may have adverse consequences on our business and our results of operations. In October 2011, several airport and navigational system outages combined with a severe winter storm impacted the northeast which resulted in numerous flight diversions, by us and other domestic and international carriers, to Hartford, CT’s Bradley International Airport. Due to weather, field and airport terminal conditions, five of our six diverted flights were held on the tarmac for times which exceeded the DOT’s established tarmac delay limits. As a result, the DOT is formally investigating these incidents and we may be subject to a penalty.

1,288

51,975

1

0

1

0

Yes

No

Yes

No

Negative

only_economic_flows

103

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

Airport Access.Since 2008, JFK has been a slot-controlled airport during the majority of the day, from 6:00 a.m. to 10:59 p.m. Due to airspace congestion in the northeast, especially in the New York metropolitan region, and during inclement weather, delays remain among the highest in the nation.

1,288

51,975

0

1

0

No

null

104

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

We maintain a high daily aircraft utilization rate (the amount of time that our aircraft spend in the air carrying passengers). High daily aircraft utilization allows us to generate more revenue from our aircraft and is achieved in part by reducing turnaround times at airports so we can fly more hours on average in a day. Aircraft utilization is reduced by delays and cancellations from various factors, many of which are beyond our control, including adverse weather conditions, security requirements, air traffic congestion and unscheduled maintenance. The majority of our operations are concentrated in the Northeast and Florida, which are particularly vulnerable to weather and congestion delays. Reduced aircraft utilization may limit our ability to achieve and maintain profitability as well as lead to customer dissatisfaction.

1,288

51,975

0

1

No

null

105

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

We rely on the third party providers of our current automated systems and data center infrastructure for technical support. If the current provider were to fail to adequately provide technical support for any one of our key existing systems or if new or updated components were not integrated smoothly, we could experience service disruptions, which, if they were to occur, could result in the loss of important data, increase our expenses, decrease our revenues and generally harm our business and reputation. Furthermore, our automated systems cannot be completely protected against events that are beyond our control, including natural disasters, computer viruses, other security breaches, or telecommunications failures. Substantial or sustained system failures could impact customer service and result in our customers purchasing tickets from other airlines. We have implemented security measures and change control procedures and have disaster recovery plans; however, we cannot assure you that these measures are adequate to prevent disruptions, which, if they were to occur, could result in the loss of important data, increase our expenses, decrease our revenues and generally harm our business and reputation.

1,288

51,975

0

1

No

null

106

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

We expect our quarterly operating results to fluctuate due to seasonality including high vacation and leisure demand occurring on the Florida routes between October and April and on our western routes during the summer. Actions of our competitors may also contribute to fluctuations in our results. We are more susceptible to adverse weather conditions, including snow storms and hurricanes, as a result of our operations being concentrated on the East Coast, than some of our competitors. As we enter new markets we could be subject to additional seasonal variations along with any competitive responses to our entry by other airlines. Price changes in aircraft fuel as well as the timing and amount of maintenance and advertising expenditures also impact our operations. As a result of these factors, quarter-to-quarter comparisons of our operating results may not be a good indicator of our future performance. In addition, it is possible that in any future period our operating results could be below the expectations of investors and any published reports or analyses regarding JetBlue. In that event, the price of our common stock could decline, perhaps substantially.

1,288

51,975

1

0

1

No

null

107

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

The DOT’s passenger protection rules, which became effective in April 2010, provide, among other things, that airlines return aircraft to the gate for deplaning following tarmac delays in certain circumstances. On October 29, 2011, a severe winter storm and multiple failures of critical navigational equipment in the New York

1,288

51,975

1

0

1

Yes

No

Yes

No

Negative

none

108

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

We could be adversely affected by an outbreak of a disease or an environmental disaster that significantly affects travel behavior.

1,288

51,975

0

1

No

null

109

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

The highest levels of traffic and revenue on our routes to and from Florida are generally realized from October through April and on our routes to and from the western United States in the summer. Our VFR markets continue to complement our leisure-driven markets from both a seasonal and day of week perspective. Many of our areas of operations in the Northeast experience bad weather conditions in the winter, causing increased costs associated with de-icing aircraft, cancelled flights and accommodating displaced customers. Many of our Florida and Caribbean routes experience bad weather conditions in the summer and fall due to thunderstorms and hurricanes. As we enter new markets we could be subject to additional seasonal variations along with competitive responses to our entry by other airlines. Given our high proportion of fixed costs, this seasonality may cause our results of operations to vary from quarter to quarter. As such, we are currently focused on trying to reduce the seasonal impact of our operations and increase demand and travel during the trough periods.

1,288

51,975

1

0

1

0

No

null

110

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

Our operations are highly concentrated along the eastern coast of the United States, which at times makes us susceptible to the impact of severe weather. During the first quarter of 2011, the winter storm season was extremely severe. The operational impact of the severe storm season pressured our CASM, excluding fuel and negatively impacted our completion factor. During the third quarter of 2011, Hurricane Irene severely impacted our operations as its path travelled directly through the core of our network. Flights were suspended in New York and Boston, resulting in approximately 1400 cancellations over a three day period.

1,288

51,975

1

0

1

0

Yes

No

Yes

No

Negative

only_economic_flows

111

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

As part of our IT investments during 2010, we have had a shift in costs from depreciation expense to other operating expenses. Additionally, the severe winter weather during 2010, both in February and December, created unexpected cost pressures.

1,288

51,975

0

1

0

Yes

No

Negative

only_economic_flows

112

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

Salaries, wages and benefits increased 15%, or $115 million, due to an increase in average full-time equivalent employees, increased wages and related benefits for several of our large workgroups implemented between June 2009 and throughout 2010. We also had higher salaries, wages and benefits as a result of premium time related to the severe winter storms in the Northeast both in early and late 2010. The increase in average full-time equivalent employees is partially driven by additional staffing levels in preparation for our new customer service system implementation in January 2010, which resulted in an additional $9 million of expense, as well as our policy of not furloughing employees. Cost per available seat mile increased 8% primarily due to an increase in full-time equivalent employees.

1,288

51,975

1

0

1

0

Yes

No

Negative

only_economic_flows

113

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

Other operating expenses increased 23%, or $96 million, due to an increase in variable costs associated with 5% more departures versus 2009, operating out of three additional cities in 2010 in addition to the full year of operations at the eight cities opened throughout 2009, and a severe winter storm season in early 2010. We also incurred approximately $13 million in one-time implementation expenses related to our new customer service system, as well as overall higher technology infrastructure related costs. Additionally, we incurred a $6 million one-time impairment expense related to the intangible assets and other costs associated with developing an air to ground connectivity capability by LiveTV. In 2010, we also paid a $5 million rescheduling fee in connection with the deferral of aircraft. In 2009, other operating expenses were offset by $11 million for certain tax incentives and $1 million in gains on sales of aircraft. Cost per available seat mile increased 15% due primarily to the implementation costs associated with our new customer service system, changes in our IT infrastructure and the 2009 tax incentive credits.

1,288

51,975

1

0

1

0

Yes

No

Negative

only_economic_flows

114

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

the effect on our business might be from the extremely competitive environment we are operating in or from events that are beyond our control, such as volatile fuel prices, economic conditions, weather-related disruptions, the impact of airline bankruptcies, restructurings or consolidations, U.S. military actions or acts of terrorism. We believe the working capital available to us will be sufficient to meet our cash requirements for at least the next 12 months.

1,288

51,975

0

1

0

No

null

115

./filings/2012/JBLU/2012-02-28_10-K_d273260d10k.htm

1,158,463

2,012

2012-02-28_10-K_d273260d10k.htm

2012-02-28

In October 2011, a severe winter storm and multiple failures of critical navigational equipment in the New York City area severely impacted air travel in the northeast. As a result, we and other domestic and international carriers diverted flights to Hartford, CT’s Bradley International Airport, or Bradley. We diverted a total of six flights to Bradley, five of which were held on the tarmac for three hours or more. The DOT is investigating these incidents and we may be subject to a monetary penalty under the DOT’s tarmac delay regulations. Based on the allowable maximum DOT fine proscribed by the regulation, we could be assessed a fine of up to approximately $15 million. Since the tarmac delay rule went into effect in April 2010, there have been multiple instances where carriers have experienced extended tarmac delays in excess of three hours; however, the DOT has only assessed one penalty against another carrier, for an amount well below the maximum allowable fine of $27,500 per passenger. As a result of the circumstances surrounding the airport, weather and air traffic conditions on that day, as well as the discretion granted to the DOT by the regulation, we are unable to determine whether a fine will be assessed, and if so, the amount of such fine. We have issued compensation to the impacted customers in accordance with our Customer Bill of Rights, and are complying with the requests of the DOT investigation. We believe the final determination from the DOT should be made in the next few months.

1,288

51,975

1

0

1

0

Yes

No

Yes

No

Negative

only_economic_flows

116

./filings/2012/KRED/2012-08-29_10-K_teamupsport10k053112.htm

1,527,355

2,012

2012-08-29_10-K_teamupsport10k053112.htm

2012-08-29

null

604

11,029

null

No

null

117

./filings/2012/LCNB/2012-02-28_10-K_form10k.htm

1,074,902

2,012

2012-02-28_10-K_form10k.htm

2012-02-28

Economic conditions in Southwestern Ohio could adversely affect LCNB’s financial condition and results of operations.LCNB has 25 offices located in Warren, Butler, Clinton, Clermont, Hamilton, and Montgomery Counties in Southwestern Ohio. As a result of this geographic concentration, LCNB’s results are heavily influenced by economic conditions in this area. A further deterioration in economic conditions or a natural or manmade disaster in Southwestern Ohio or Ohio in general could have a material adverse impact on the ability of borrowers to make scheduled loan payments, the fair value of underlying loan collateral, the ability of depositors to maintain or add to deposit balances, the demand for trust and brokerage services, and the demand for other products and services offered by LCNB.

1,990

38,495

0

1

No

null

118

./filings/2012/LCNB/2012-02-28_10-K_form10k.htm

1,074,902

2,012

2012-02-28_10-K_form10k.htm

2012-02-28

LCNB has 25 offices located in Warren, Butler, Clinton, Clermont, Hamilton, and Montgomery Counties in Southwestern Ohio. As a result of this geographic concentration, LCNB’s results are heavily influenced by economic conditions in this area. A further deterioration in economic conditions or a natural or manmade disaster in Southwestern Ohio or Ohio in general could have a material adverse impact on the ability of borrowers to make scheduled loan payments, the fair value of underlying loan collateral, the ability of depositors to maintain or add to deposit balances, the demand for trust and brokerage services, and the demand for other products and services offered by LCNB.

1,990

38,495

0

1

No

null

119

./filings/2012/LRDC/2012-08-29_10-K_laredo_10k-15248.htm

1,442,492

2,012

2012-08-29_10-K_laredo_10k-15248.htm

2012-08-29

Mining and drilling activities are subject to many risks, including the risk that no commercially productive reservoirs will be encountered. We believe that the cost and timing of mining, drilling, completing and operating wells is often uncertain and that drilling operations may be curtailed, delayed or canceled as a result of numerous factors, including low oil and natural gas prices, title problems, weather conditions, delays by project participants, compliance with governmental requirements, shortages or delays in the delivery of equipment and services and increases in the cost for such equipment and services. SORC’s future oil recovery activities may not be successful and, if unsuccessful, such failure may result in cancellation of the Agreements and have a material adverse effect on our business, financial condition, results of operations and cash flows.

962

21,494

0

1

0

No

null

120

./filings/2012/LRDC/2012-08-29_10-K_laredo_10k-15248.htm

1,442,492

2,012

2012-08-29_10-K_laredo_10k-15248.htm

2012-08-29

Operations that the Company will manage for SORC are subject to hazards and risks inherent in drilling for and producing and transporting oil, such as fires, natural disasters, explosions, encountering formations with abnormal pressures, blowouts, craterings, pipeline ruptures and spills, any of which can result in the loss of hydrocarbons, environmental pollution, personal injury claims and other damage to SORC properties and those of others. The Company maintains insurance against some but not all of the risks described above. In particular, the insurance we maintain does not cover claims relating to failure of title to oil leases, loss of surface equipment at well locations, business interruption, loss of revenue due to low commodity prices or loss of revenues due to well failure. The occurrence of an event that is not covered, or not fully covered by insurance which we maintain or which SORC may acquire, could have a material adverse effect on our Royalty in the period such event may occur.

962

21,494

0

1

0

No

null

121

./filings/2012/LRDC/2012-08-29_10-K_laredo_10k-15248.htm

1,442,492

2,012

2012-08-29_10-K_laredo_10k-15248.htm

2012-08-29

Federal regulations require certain owners or operators of facilities that store or otherwise handle oil to prepare and implement spill prevention, control countermeasure and response plans relating to the possible discharge of oil into surface waters. The Oil Pollution Act of 1990 (“OPA”) contains numerous requirements relating to the prevention of and response to oil spills into waters of the United States. For onshore and offshore facilities that may affect waters of the United States, the OPA requires an operator to demonstrate financial responsibility. Regulations are currently being developed under federal and state laws concerning oil pollution prevention and other matters that may impose additional regulatory burdens on participants in the oil and gas industry. In addition, the Clean Water Act and analogous state laws require permits to be obtained to authorize discharge into surface waters or to construct facilities in wetland areas. The Clean Air Act of 1970 and its subsequent amendments in 1990 and 1997 also impose permit requirements and necessitate certain restrictions on point source emissions of volatile organic carbons (nitrogen oxides and sulfur dioxide) and particulates with respect to certain of our operations. The EPA and designated state agencies have in place regulations concerning discharges of storm water runoff and stationary sources of air emissions. These programs require covered facilities to obtain individual permits, participate in a group or seek coverage under an EPA general permit. Most agencies recognize the unique qualities of oil and natural gas exploration and production operations. A number of agencies including but not limited to the EPA, the BLM, the TCEQ, the OCC, the MBOGC and similar commissions within these states and other states have adopted regulatory guidance in consideration of the operational limitations on these types of facilities and their potential to emit pollutants.

962

21,494

1

0

No

null

122

./filings/2012/LRDC/2012-08-29_10-K_laredo_10k-15248.htm

1,442,492

2,012

2012-08-29_10-K_laredo_10k-15248.htm

2012-08-29

Physical Impacts of Climate Change on our Costs and Operations.There has been public discussion that climate change may be associated with extreme weather conditions such as more intense hurricanes, thunderstorms, tornados and snow or ice storms, as well as rising sea levels. Extreme weather conditions may increase our costs, and damage resulting from extreme weather may not be fully insured. However, the extent to which climate change may lead to increased storm or weather hazards affecting SORC’s future operations is difficult to identify at this time.

962

21,494

1

0

1

0

No

null

123

./filings/2012/LRDC/2012-08-29_10-K_laredo_10k-15248.htm

1,442,492

2,012

2012-08-29_10-K_laredo_10k-15248.htm

2012-08-29

(1)filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by the court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filings;(2)was convicted in a criminal proceeding or named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);(3)was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from or otherwise limiting, the following activities:(i)acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity;(ii)engaging in any type of business practice; or(iii)engaging in any activities in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities laws or federal commodities laws;(4)was the subject of any order, judgment, or decree, not subsequently reversed, suspended, or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described above under this Item, or to be associated with persons engaged in any such activities;(5)was found by a court of competent jurisdiction in a civil action or by the Securities and Exchange Commission to have violated any federal or state securities law, and the judgment in such civil action or finding by the Securities and Exchange Commission has not been subsequently reversed, suspended, or vacated;(6)was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;(7)was the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:

962

21,494

0

1

0

No

null

124

./filings/2012/MBCN/2012-03-20_10-K_d311317d10k.htm

836,147

2,012

2012-03-20_10-K_d311317d10k.htm

2012-03-20

null

1,263

50,209

null

No

null

125

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

Water flood

2,382

77,217

0

1

0

1

0

No

null

126

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

Drilling activities are subject to many risks, including the risk that no commercially productive reservoirs will be encountered. There can be no assurance that the new wells we drill will be productive or that we will recover all or any portion of our investment. Drilling for oil and natural gas may involve unprofitable efforts, not only from dry wells, but also from wells that are productive, but do not produce sufficient net revenues to return a profit after drilling, completion, operating and other costs. The cost and timing of drilling, completing and operating wells is often uncertain. Our drilling operations may be curtailed, delayed or canceled as a result of numerous factors, many of which are beyond our control, including low oil and natural gas prices, title problems, weather conditions, delays by or disputes with project participants, compliance with governmental requirements, shortages or delays in the delivery of equipment and services and increases in the cost for such equipment and services. Our future drilling activities may not be successful and, if unsuccessful, such failure may have a material adverse effect on our business, financial condition, results of operations and cash flows.

2,382

77,217

0

1

0

No

null

127

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

Our operations are subject to hazards and risks inherent in drilling for and producing and gathering and transporting oil and natural gas, such as fires, natural disasters, explosions, encountering formations with abnormal pressures, blowouts, craterings, pipeline ruptures and spills, any of which can result in the loss of hydrocarbons, environmental pollution, personal injury claims and damage to our properties and those of others. We maintain insurance against some but not all of the risks described above. In particular, the insurance we maintain does not cover claims relating to failure of title to oil and natural gas leases, loss of surface equipment at well locations, business interruption, loss of revenue due to low commodity prices or loss of revenue due to well failure. Furthermore, in certain circumstances where such insurance is available, we may determine not to purchase it due to cost or other factors. The occurrence of an event that is not covered by, or not fully covered by insurance could have a material adverse effect on our business, financial condition, results of operations and cash flows.

2,382

77,217

0

1

0

No

null

128

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

A portion of our natural gas and oil production in any region may be interrupted, or shut in, from time to time for numerous reasons, including as a result of weather conditions, accidents, loss of pipeline or gathering system access, field labor issues or strikes, or we might voluntarily curtail production in response to market conditions. If a substantial amount of our production is interrupted at the same time, it could temporarily adversely affect our cash flow.

2,382

77,217

0

1

No

null

129

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

•natural disasters.

2,382

77,217

0

1

No

null

130

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

natural disasters.

2,382

77,217

0

1

No

null

131

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

Our midstream activities are subject to all of the operating risks associated with constructing, operating and maintaining pipelines and related equipment, including the possibility of pipeline leaks, breaks and ruptures, pipeline damage due to natural hazards, such as ground movement and weather, and personal injuries and death.

2,382

77,217

0

1

No

null

132

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

•fires and natural disasters;

2,382

77,217

0

1

No

null

133

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

fires and natural disasters;

2,382

77,217

0

1

No

null

134

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

•adverse weather conditions;

2,382

77,217

0

1

No

null

135

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

adverse weather conditions;

2,382

77,217

0

1

No

null

136

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

To our knowledge, there have been no citations, suits, or contamination of potable drinking water arising from our fracturing operations. We do not have insurance policies in effect that are intended to provide coverage for losses solely related to hydraulic fracturing operations; however, we believe our general liability and excess liability insurance policies would cover third party claims related to hydraulic fracturing operations and associated legal expenses in accordance with, and subject to, the terms of such policies.

2,382

77,217

0

1

No

null

137

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

In December 2009, the EPA published its findings that emissions of greenhouse gases, or GHGs, present a danger to public health and the environment because emissions of such gases are, according to the EPA, contributing to warming of the Earth’s atmosphere and other climatic conditions. Based on these findings, in 2010 the EPA adopted two sets of regulations that restrict emissions of GHGs under existing provisions of the federal Clean Air Act, including one that requires a reduction in emissions of GHGs from motor vehicles and another that requires certain construction and operating permit reviews for GHG emissions from certain large stationary sources. The stationary source final rule addresses the permitting of GHG emissions from stationary sources under the Clean Air Act Prevention of Significant Deterioration, or PSD, construction and Title V operating permit programs, pursuant to which these permit programs have been “tailored” to apply to certain stationary sources of GHG emissions in a multi-step process, with the largest sources first subject to permitting. In addition, EPA adopted rules requiring the monitoring and reporting of GHGs from certain sources, including, among others, onshore and offshore oil and natural gas production facilities. We are evaluating whether GHG emissions from our operations are subject to the GHG emissions reporting rule and expect to be able to comply with any applicable reporting obligations. Also, Congress has from time to time considered legislation to reduce emissions of GHGs, and almost one-half of the states already have taken legal measures to reduce emissions of GHGs, primarily through the planned development of GHG emission inventories and/or regional GHG cap and trade programs. The adoption of any legislation or regulations that requires reporting of GHGs or otherwise restricts emissions of GHGs from our equipment and operations could require us to incur significant added costs to reduce emissions of GHGs or could adversely affect demand for the oil, natural gas and ngls we produce. Finally, some scientists have concluded that increasing concentrations of GHGs in the Earth’s atmosphere may produce climate change that could have significant physical effect, such as increased frequency and severity of storms, droughts, and floods and other climatic events; if such effects were to occur, they could have an adverse effect on our assets and operations.

2,382

77,217

1

0

1

0

1

No

null

138

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

The Company made its entry into the Williston Basin through the acquisition of interests in waterflood properties in North Dakota from a private independent oil and gas company in December 2006. These properties are our North Dakota legacy properties. We expanded our position in the Williston Basin with the acquisition of NuLoch in May 2011. The acquired NuLoch properties included operated properties in Alberta and Saskatchewan, Canada and non-operated properties in North Dakota.

2,382

77,217

0

1

0

No

null

139

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

Historically, producers in the Appalachian Basin developed oil and natural gas from shallow Mississippian age sandstone and Upper Devonian age shales with low permeability, which are prevalent in the region. Traditional shallow wells in the Appalachian Basin generally produce little or no water, contributing to a low cost of operation. However, in recent years, the application of lateral well drilling and completion technology has led to the development of the Marcellus Shale, transforming the Appalachian Basin into one of the country’s premier natural gas reserves.

2,382

77,217

0

1

0

No

null

140

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

The Devonian Shale formation is considered an unconventional target due to its low permeability; however, in recent years, the application of lateral well drilling and completion technology has led to improved economics. The Devonian Shale generally produces little or no water, contributing to a low cost of operation. As of February 27, 2012, MHP had drilled 77 Devonian Shale horizontal wells, primarily in the Huron and Cleveland sections of the Devonian Shale formation. In 2011, MHP drilled 12 Huron horizontal wells and four Cleveland horizontal wells, principally to hold existing acreage commitments covering a total of approximately 223,500 net acres.

2,382

77,217

0

1

0

No

null

141

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

Water Disposal—Typically, Marcellus Shale wells produce significant amounts of water that, in most cases, require disposal. In February 2012, we sold our Marcellus Shale commercial salt water disposal operations, which included salt water disposal facilities located in Ohio and Kentucky, to a third party for aggregate cash and other consideration valued at $8.8 million, subject to certain working capital, earnings and other similar adjustments. We entered into services agreements with the buyer of the operations pursuant to which the buyer agreed to provide us with a specified level of salt water disposal capacity at the facilities for a term of five years. See “Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations—Related Party Transactions.”

2,382

77,217

0

1

0

No

null

142

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

•weather conditions;

2,382

77,217

0

1

0

No

null

143

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

weather conditions;

2,382

77,217

0

1

0

No

null

144

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

Williston Basin.The Company made its entry into the Williston Basin through the acquisition of interests in waterflood properties in North Dakota from a private independent oil and gas company in December 2006. We expanded our position in the Williston Basin with the acquisition of NuLoch in May 2011. The acquired NuLoch properties included operated properties in Alberta and Saskatchewan, Canada and non-operated properties in North Dakota.

2,382

77,217

0

1

0

No

null

145

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

Our cash flow from operations is driven by commodity prices and production volumes and the effect of commodity derivatives. Prices for oil and natural gas are affected by national and international economic and political environments, national and global supply and demand for hydrocarbons, seasonal influences of weather and other factors beyond our control. Our working capital is significantly influenced by changes in commodity prices, and significant declines in prices will cause a decrease in our production volumes and exploration and development expenditures. Cash flows from operations are primarily used to fund exploration and development of our oil and gas properties.

2,382

77,217

0

1

0

No

null

146

./filings/2012/MHR/2012-02-29_10-K_d283615d10k.htm

1,335,190

2,012

2012-02-29_10-K_d283615d10k.htm

2012-02-29

Stephen C. Hurley

2,382

77,217

1

0

1

0

No

null

147

./filings/2012/NOVZ/2012-03-30_10-K_novz_10k31dec11.htm

1,425,173

2,012

2012-03-30_10-K_novz_10k31dec11.htm

2012-03-30

Greenhouse gases in the atmosphere trap radiation given off by the Earth. This helps keep the planet warm enough to sustain life. Since the Industrial Revolution, however, the amount of greenhouse gases in the atmosphere has risen significantly. The rising concentrations of greenhouse gases, like carbon dioxide, cause the atmosphere and the Earth’s surface to heat up. Scientists have estimated that humans are responsible for nearly a third of the carbon dioxide now in the atmosphere.

417

14,022

0

1

0

No

null

148

./filings/2012/NOVZ/2012-03-30_10-K_novz_10k31dec11.htm

1,425,173

2,012

2012-03-30_10-K_novz_10k31dec11.htm

2012-03-30

If carbon pollution is not curtailed, the world risks serious effects from climate change. Global average temperatures could increase by up to 6.4 degrees Celsius above 1990 temperatures by 2100. Sea levels are estimated to rise by between 0.5 and 1 meter by 2100 from 2000 levels and the acidity of the world’s oceans will increase significantly, threatening species that cannot tolerate the more acidic environment. Cyclones, storms, floods and other extreme weather events are likely to change in severity or frequency. Rainfall patterns around the world will change, making some places drier and other places wetter.

417

14,022

1

0

1

0

1

0

No

null

149

./filings/2012/NOVZ/2012-03-30_10-K_novz_10k31dec11.htm

1,425,173

2,012

2012-03-30_10-K_novz_10k31dec11.htm

2012-03-30

Climate change is occurring, is very likely caused primarily by the emission of greenhouse gases from human activities, and poses significant risks for a range of human and natural systems (US National Academies of Science).

417

14,022

0

1

0

No

null

150

./filings/2012/NOVZ/2012-03-30_10-K_novz_10k31dec11.htm

1,425,173

2,012

2012-03-30_10-K_novz_10k31dec11.htm

2012-03-30

·Land Reclamation.Land reclamation refers to the restoration of land damaged by mining, erosion, or some other activity or process. The process of reclamation includes maintaining water and air quality, minimizing flooding, erosion and damage to wildlife and aquatic habitats caused by surface mining. In respect of former mining sites, reclamation generally involves filling in excavations, grading the land to avoid leaving steep slopes, placing the original topsoil on the graded surface, and planting the topsoil with vegetation. Through a collaboration with our industry partners, we plan to provide mining companies with sustainable solar energy solutions for responsible exploration and mining practices, such as providing solar power for mining operations and reclamation activities, and post-reclamation solar power plant development.

417

14,022

0

1

0

No

null

151

./filings/2012/NOVZ/2012-03-30_10-K_novz_10k31dec11.htm

1,425,173

2,012

2012-03-30_10-K_novz_10k31dec11.htm

2012-03-30

Clean technology refers to the application of innovative technologies to optimize the use of limited natural resources, offering a cleaner or less wasteful alternative to conventional energy practices and traditional products, materials and processes while adding economic value. The dramatic growth in clean technology’s global prominence can be attributed to national and global policy action, local market drivers, high energy prices, increasing technological maturity, better understanding of technology risk, public and private capital investment intended to promote clean technology and product development, and market acceptance of the relevance of clean technology solutions. Growth is happening in all sectors, countries and investment stages as the occurrence of climate change is no longer a topic that is debated, but rather a problem for which solutions are being sought.

417

14,022

0

1

0

No

null

152

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

A measure of thermal efficiency computed by dividing the total BTU content of the fuel burned by the resulting kWh's generated. Heat rates can be expressed as either gross or net heat rates, depending whether the electricity output measured is gross or net generation and is generally expressed as BTU per net kWh

6,176

111,295

0

1

0

No

null

153

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

NRG's retail operations sell electricity on fixed price or indexed products, and these contracts have terms typically ranging from one month to five years. In 2011, the Company's Retail Businesses sold approximately 57 TWh of load. In any given year, TWh sold can be affected by weather, economic conditions and competition. The wholesale supply is typically purchased as the load is contracted in order to secure profit margin. The wholesale supply is purchased from a combination of NRG's wholesale portfolio and other third parties, depending on the existing hedge position for the NRG wholesale portfolio at the time.

6,176

111,295

0

1

0

No

null

154

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Annual and quarterly operating results of the Company's wholesale power generation segments can be significantly affected by weather and energy commodity price volatility. Significant other events, such as the demand for natural gas, interruptions in fuel supply infrastructure and relative levels of hydroelectric capacity can increase seasonal fuel and power price volatility. NRG derives a majority of its annual revenues in the months of May through October, when demand for electricity is generally at its highest in the Company's core domestic markets. Further, power price volatility is generally higher in the summer months, traditionally NRG's most important season. The Company's second most important season is the winter months of December through March when volatility and price spikes in underlying delivered fuel prices have tended to drive seasonal electricity prices. The preceding factors related to seasonality and price volatility are fairly uniform across the Company's wholesale generation business segments.

6,176

111,295

0

1

0

No

null

155

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

The sale of electric power to retail customers is also a seasonal business with the demand for power generally peaking during the summer months. As a result, net working capital requirements for the Company's retail operations generally increase during summer months along with the higher revenues, and then decline during off-peak months. Weather may impact operating results and extreme weather conditions could materially affect results of operations. The rates charged to retail customers may be impacted by fluctuations in the price of natural gas, transmission constraints, competition, and changes in market heat rates.

6,176

111,295

0

1

0

No

null

156

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Heat Rate

6,176

111,295

0

1

0

No

null

157

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

On January 13, 2012, the NRC issued six draft “information request letters,” seeking industry comment on additional recommendations made by the Near-Term Task Force. Topics for comment include how to improve the robustness of existing emergency preparedness plans, whether to mandate on-site availability of emergency response materials, and guidance on how to identify sites vulnerable to flooding, seismic events, or other natural external hazards (such as hurricanes and tornadoes). The NRC has requested feedback from nuclear utilities on its proposed measures. Until further actions are taken by the NRC, the Company cannot predict the impact of the recommendations in the NRC Task Force report, and could be required to make additional investments at STP Units 1 & 2.

6,176

111,295

1

0

1

0

No

null

158

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Air— The U.S. EPA released the Cross-State Air Pollution Rule, or CSAPR, on July 7, 2011, with additional proposed updates on October 6, 2011. CSAPR was scheduled to replace the Clean Air Interstate Rule, or CAIR, on January 1, 2012. It was designed to bring states into attainment with PM 2.5 and ozone NAAQS, reducing SO2and NOxemissions from power plants. The proposed implementation employed cap and trade allowance programs starting in 2012 for Group 1 SO2, Group 2 SO2, Annual NOx, and Ozone Season NOx. In 2014, the SO2cap would be further reduced in Group 1 states. Under CSAPR, use of Acid Rain SO2and NOxallowances for CAIR would be discontinued and replaced with these completely distinct allowance programs. Acid Rain allowances would still be required on a 1:1 basis under the Acid Rain Program. NRG owns or has minority interests in plants in six states that would be covered by the rule. No plant impairments nor material capital investment were expected for NRG facilities to comply with CSAPR.

6,176

111,295

0

1

0

No

null

159

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•electric supply disruptions, including plant outages and transmission disruptions;

6,176

111,295

0

1

No

null

160

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Operation of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse effect on NRG's revenues and results of operations. NRG may not have adequate insurance to cover these risks and hazards.

6,176

111,295

0

1

No

null

161

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Power generation involves hazardous activities, including acquiring, transporting and unloading fuel, operating large pieces of rotating equipment and delivering electricity to transmission and distribution systems. In addition to natural risks such as earthquake, flood, lightning, hurricane and wind, other hazards, such as fire, explosion, structural collapse and machinery failure are inherent risks in the Company's operations. These and other hazards can cause significant personal injury or loss of life, severe damage to and destruction of property, plant and equipment, contamination of, or damage to, the environment and suspension of operations. The occurrence of any one of these events may result in NRG being named as a defendant in lawsuits asserting claims for substantial damages, including for environmental cleanup costs, personal injury and property damage and fines and/or penalties. NRG maintains an amount of insurance protection that it considers adequate, but the Company cannot provide any assurance that its insurance will be sufficient or effective under all circumstances and against all hazards or liabilities to which it may be subject. A successful claim for which the Company is not fully insured could hurt its financial results and materially harm NRG's financial condition. Further, due to rising insurance costs and changes in the insurance markets, NRG cannot provide any assurance that its insurance coverage will continue to be available at all or at rates or on terms similar to those presently available. Any losses not covered by insurance could have a material adverse effect on the Company's financial condition, results of operations or cash flows.

6,176

111,295

1

0

1

0

1

No

null

162

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

NRG cannot be certain of the level of capital expenditures that will be required due to changing environmental and safety laws and regulations (including changes in the interpretation or enforcement thereof), needed facility repairs and unexpected events (such as natural disasters or terrorist attacks). The unexpected requirement of large capital expenditures could have a material adverse effect on the Company's liquidity and financial condition.

6,176

111,295

0

1

No

null

163

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•weather interferences;

6,176

111,295

0

1

No

null

164

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

weather interferences;

6,176

111,295

0

1

No

null

165

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Hazards customary to the power production industry include the potential for unusual weather conditions, which could affect fuel pricing and availability, the Company's route to market or access to customers, i.e. transmission and distribution lines, or critical plant assets. To the extent that climate change contributes to the frequency or intensity of weather related events, NRG's operations and planning process could be impacted.

6,176

111,295

0

1

No

null

166

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Risks that are beyond NRG's control, including but not limited to acts of terrorism or related acts of war, natural disaster, hostile cyber intrusions or other catastrophic events could have a material adverse effect on NRG's financial condition, results of operations and cash flows.

6,176

111,295

0

1

No

null

167

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•changes in market heat rate (i.e., the relationship between power and natural gas prices).

6,176

111,295

0

1

No

null

168

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

changes in market heat rate (i.e., the relationship between power and natural gas prices).

6,176

111,295

0

1

No

null

169

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

The Company's earnings and cash flows could also be adversely affected in any period in which the demand for power significantly varies from the forecasted supply, which could occur due to, among other factors, weather events, competition and economic conditions.

6,176

111,295

0

1

No

null

170

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Significant events beyond the Company's control, such as hurricanes and other weather-related problems or acts of terrorism, could cause a loss of load and customers and thus have a material adverse effect on the Company's Retail Businesses.

6,176

111,295

1

0

1

No

null

171

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

The uncertainty associated with events beyond the Company's control, such as significant weather events and the risk of future terrorist activity, could cause a loss of load and customers and may affect the Company's results of operations and financial condition in unpredictable ways. In addition, significant weather events or terrorist actions could damage or shut down the power transmission and distribution facilities upon which the retail business is dependent. Power supply may be sold at a loss if these events cause a significant loss of retail customer load.

6,176

111,295

0

1

No

null

172

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•Hazards customary to the power production industry and power generation operations such as fuel and electricity price volatility, unusual weather conditions, catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to fuel supply costs or availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission or gas pipeline system constraints and the possibility that NRG may not have adequate insurance to cover losses as a result of such hazards;

6,176

111,295

0

1

No

null

173

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Hazards customary to the power production industry and power generation operations such as fuel and electricity price volatility, unusual weather conditions, catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to fuel supply costs or availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission or gas pipeline system constraints and the possibility that NRG may not have adequate insurance to cover losses as a result of such hazards;

6,176

111,295

0

1

No

null

174

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

(a)Actual capacity can vary depending on factors including weather conditions, operational conditions, and other factors. Additionally, ERCOT requires periodic demonstration of capability, and the capacity may vary individually and in the aggregate from time to time.

6,176

111,295

0

1

0

No

null

175

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Actual capacity can vary depending on factors including weather conditions, operational conditions, and other factors. Additionally, ERCOT requires periodic demonstration of capability, and the capacity may vary individually and in the aggregate from time to time.

6,176

111,295

0

1

0

No

null

176

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Chilled Water: 40,200 tons

6,176

111,295

0

1

0

No

null

177

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Chilled water: 2,400 tons

6,176

111,295

0

1

0

No

null

178

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Chilled water: 25,600 tons

6,176

111,295

0

1

0

No

null

179

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Chilled water: 12,920 tons

6,176

111,295

0

1

0

No

null

180

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Chilled water: 7,425 tons

6,176

111,295

0

1

0

No

null

181

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•Executive Summary, including business strategy, the business environment in which NRG operates, how regulation, weather, competition and other factors affect the business, and significant events that are important to understanding the results of operations and financial condition for the 2011 period;

6,176

111,295

0

1

0

No

null

182

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Executive Summary, including business strategy, the business environment in which NRG operates, how regulation, weather, competition and other factors affect the business, and significant events that are important to understanding the results of operations and financial condition for the 2011 period;

6,176

111,295

0

1

0

No

null

183

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Natural Gas Market— The price of natural gas plays an important role in setting the price of electricity in many of the regions where NRG operates power plants. Natural gas prices are driven by variables including demand from the industrial, residential, and electric sectors, productivity across natural gas supply basins, costs of natural gas production, changes in pipeline infrastructure, and the financial and hedging profile of natural gas consumers and producers. In 2011, average natural gas prices were 8% lower than 2010 and comparable to prices seen in 2009. Supply continues to reflect increased production from low extraction cost resources such as the shale basins. In 2012, a mild winter and increased production have led to spot prices dipping into the $2.50/MMBtu range. At these current depressed levels, significant coal-to-gas switching is expected, making wholesale changes to Merit Order in many electric markets. While some gas producers have publicly spoken of scaling back production, it is too early to assess whether there is action behind their words. At current rates of production, storage levels may challenge storage limits later in the year. While the near-term gas price outlook is depressed, a return to normal weather, coal-fired plant retirements due to proposed environmental regulations and Liquid Natural Gas export possibilities may drive higher gas prices in the medium term.

6,176

111,295

0

1

0

No

null

184

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Electricity Price— The price of electricity is a key determinant of the profitability of the Company's generation portfolio. Many variables such as the price of different fuels, weather, load growth and unit availability all coalesce to impact the final price for electricity. In 2011, electricity prices in Texas were higher than 2010 due primarily to the extreme weather and record-setting load experienced in August 2011. In NRG's other regions, prices were lower than in 2010, mainly due to lower gas prices and negligible demand growth. The following table summarizes average on-peak power prices for each of the major markets in which NRG operates for the years ended December 31, 2011, 2010, and 2009:

6,176

111,295

0

1

0

Yes

No

Positive

only_economic_flows

185

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Weather

6,176

111,295

0

1

0

No

null

186

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Weather conditions in the regions of the United States in which NRG does business influence the Company's financial results. Weather conditions can affect the supply and demand for electricity and fuels. Changes in energy supply and demand may impact the price of these energy commodities in both the spot and forward markets, which may affect the Company's results in any given period. Typically, demand for and the price of electricity is higher in the summer and the winter seasons, when temperatures are more extreme. The demand for and price of natural gas are higher in the winter. However, all regions of the United States typically do not experience extreme weather conditions at the same time, thus NRG is typically not exposed to the effects of extreme weather in all parts of its business at once.

6,176

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0

1

0

No

null

187

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•procedures used to maintain the integrity of the physical electricity system during extreme conditions; and

6,176

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0

1

0

No

null

188

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

procedures used to maintain the integrity of the physical electricity system during extreme conditions; and

6,176

111,295

0

1

0

No

null

189

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•weather conditions;

6,176

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0

1

0

No

null

190

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

weather conditions;

6,176

111,295

0

1

0

No

null

191

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•Lower net income— Net income decreased by 59% from $477 million to $197 million, which reflects a decrease in gross margin for wholesale generation driven by lower realized prices and a decrease in gross margin from the unprecedented heat wave in August 2011 in Texas, which negatively impacted both retail and generation gross margins. In addition, the decrease reflects a $160 million impairment charge on emissions allowances, the $495 million impairment of NRG's investment in Nuclear Innovation North America LLC, or NINA, and a loss on debt extinguishment of $175 million. These amounts were offset in part by a tax benefit of $843 million in 2011, which primarily reflects the impact of the resolution of the federal tax audit in June 2011, compared to tax expense of $277 million in 2010.

6,176

111,295

0

1

0

Yes

No

Yes

No

Negative

only_economic_flows

192

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Lower net income— Net income decreased by 59% from $477 million to $197 million, which reflects a decrease in gross margin for wholesale generation driven by lower realized prices and a decrease in gross margin from the unprecedented heat wave in August 2011 in Texas, which negatively impacted both retail and generation gross margins. In addition, the decrease reflects a $160 million impairment charge on emissions allowances, the $495 million impairment of NRG's investment in Nuclear Innovation North America LLC, or NINA, and a loss on debt extinguishment of $175 million. These amounts were offset in part by a tax benefit of $843 million in 2011, which primarily reflects the impact of the resolution of the federal tax audit in June 2011, compared to tax expense of $277 million in 2010.

6,176

111,295

0

1

0

Yes

No

Yes

No

Negative

only_economic_flows

193

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

(a)National Oceanic and Atmospheric Administration-Climate Prediction Center — A Cooling Degree Day, or CDD, represents the number of degrees that the mean temperature for a particular day is above 65 degrees Fahrenheit in each region. A Heating Degree Day, or HDD, represents the number of degrees that the mean temperature for a particular day is below 65 degrees Fahrenheit in each region. The CDDs/HDDs for a period of time are calculated by adding the CDDs/HDDs for each day during the period.

6,176

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0

1

0

No

null

194

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

National Oceanic and Atmospheric Administration-Climate Prediction Center — A Cooling Degree Day, or CDD, represents the number of degrees that the mean temperature for a particular day is above 65 degrees Fahrenheit in each region. A Heating Degree Day, or HDD, represents the number of degrees that the mean temperature for a particular day is below 65 degrees Fahrenheit in each region. The CDDs/HDDs for a period of time are calculated by adding the CDDs/HDDs for each day during the period.

6,176

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0

1

0

No

null

195

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Unfavorable gross margin impact of an unprecedented heat wave which resulted in high supply costs for incremental weather volume in August 2011, offset in part by the favorable impact of weather in the first six months of 2011$(50)Favorable volume impact on gross margin of higher average customer usage, offset in part by fewer customers and a change in customer mix25Decrease in retail margins of 8% due to lower pricing on acquisitions and renewals consistent withcompetitive offers(42)Estimated favorable impact in 2010 as compared to 2011 from the termination of out-of-market supply contracts in conjunction with 2009 CSRA unwind(68)$(135)

6,176

111,295

0

1

0

Yes

No

Negative

only_economic_flows

196

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Unfavorable gross margin impact of an unprecedented heat wave which resulted in high supply costs for incremental weather volume in August 2011, offset in part by the favorable impact of weather in the first six months of 2011

6,176

111,295

0

1

0

Yes

No

Negative

only_economic_flows

197

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•Trends — Customer counts increased by approximately 34,000 sinceDecember 31, 2010, indicating a stabilization of customer attrition. Higher than normal cooling and heating degree days in both periods resulted in higher customer usage of 13% in 2011 and 7% in 2010 when compared to ten-year normal weather.

6,176

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0

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0

No

null

198

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

Trends — Customer counts increased by approximately 34,000 sinceDecember 31, 2010, indicating a stabilization of customer attrition. Higher than normal cooling and heating degree days in both periods resulted in higher customer usage of 13% in 2011 and 7% in 2010 when compared to ten-year normal weather.

6,176

111,295

0

1

0

No

null

199

./filings/2012/NRG/2012-02-28_10-K_a201110-k.htm

1,013,871

2,012

2012-02-28_10-K_a201110-k.htm

2012-02-28

•Retail gross margin —Green Mountain Energy's gross margin of $174 million for the year endedDecember 31, 2011, reflects increasing customer count during the year and higher than normal customer usage due to the impact of an unprecedented heat wave in Texas in the third quarter. Certain extraordinary weather events during the year led to abnormally high power prices in Texas, which resulted in increased cost of sales for the incremental customer usage. Revenues were generated 63% and 37% from residential and commercial customers, respectively. Total metered customer counts, including utility partner customers, were approximately 411,000 and increased approximately 15%, or 55,000 in thetwelvemonths endedDecember 31, 2011.

6,176

111,295

0

1

0

Yes

No

Yes

No

Negative

only_economic_flows