$TLN

Talen Energy Corp

CIK:0001622536|SEC Filings

Condensed Consolidated Statements Of Operations (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating revenues	$ 747	$ 630	$ 1,876	$ 1,020
Fuel and energy purchases	(357)	(150)	(920)	(418)
Nuclear fuel amortization	(22)	(18)	(46)	(44)
Unrealized gain (loss) on derivative instruments (Note 2)	1	(84)	(41)	(25)
Energy Expenses	(378)	(252)	(1,007)	(487)
Operating Expenses
Operation, maintenance and development	(210)	(192)	(375)	(338)
General and administrative	(98)	(41)	(122)	(75)
Depreciation, amortization and accretion (Note 7)	(103)	(70)	(195)	(144)
Other operating income (expense), net	(30)	(9)	(39)	(16)
Operating Income (Loss)	(72)	66	138	(40)
Nuclear decommissioning trust funds gain (loss), net (Note 6)	134	80	112	68
Interest expense and other finance charges (Note 10)	(214)	(62)	(333)	(136)
Other non-operating income (expense), net	23	13	35	18
Income (Loss) Before Income Taxes	(129)	97	(48)	(90)
Income tax benefit (expense) (Note 4)	37	(25)	19	27
Net Income (Loss)	$ (92)	$ 72	$ (29)	$ (63)
Per Common Share
Net Income (Loss) Attributable to Stockholders - Basic (in dollars per share)	$ (2.00)	$ 1.58	$ (0.63)	$ (1.38)
Net Income (Loss) Attributable to Stockholders - Diluted (in dollars per share)	$ (2.00)	$ 1.50	$ (0.63)	$ (1.38)
Weighted-Average Number of Common Shares Outstanding - Basic (in shares)	45,904	45,554	45,759	45,699
Weighted-Average Number of Common Shares Outstanding - Diluted (in shares)	45,904	47,905	45,759	45,699
Net Income (Loss) Attributable to Stockholders	$ (92)	$ 72	$ (29)	$ (63)
Energy and other revenues
Operating revenues	722	366	1,756	948
Capacity revenues
Operating revenues	237	88	444	137
Unrealized gain (loss) on derivative instruments (Note 2)
Operating revenues	$ (212)	$ 176	$ (324)	$ (65)

Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net Income (Loss)	$ (29)	$ (63)
Non-cash reconciliation adjustments:
Unrealized (gains) losses on derivative instruments (Note 2)	352	103
Depreciation, amortization and accretion (Note 16)	158	141
Nuclear decommissioning trust funds (gain) loss, net (excluding interest and fees) (Note 6)	(85)	(44)
Nuclear fuel amortization (Note 7)	46	44
Deferred income taxes	(34)	(66)
Stock-based compensation (Note 13)	69	27
Other (Note 16)	35	7
Changes in assets and liabilities:
Accounts receivable	(59)	(103)
Inventory, net	10	78
Other assets	14	15
Accounts payable and accrued liabilities	20	(57)
Accrued interest	107	12
Collateral received (posted), net	(35)	(58)
Cash settlement of stock-based awards (Note 13)	(495)	0
Other liabilities	(47)	(101)
Net cash provided by (used in) operating activities	27	(65)
Investing Activities
Property, plant and equipment expenditures (Note 7)	(181)	(51)
Nuclear fuel expenditures (Note 7)	(66)	(50)
Nuclear decommissioning trust funds investment purchases (Note 6)	(195)	(1,201)
Nuclear decommissioning trust funds investment sale proceeds (Note 6)	173	1,186
Cornerstone Acquisition, net (Note 17)	(2,568)	0
Other	13	2
Net cash provided by (used in) investing activities	(2,824)	(114)
Financing Activities
Debt issuances (Note 10)	4,000	0
Debt repayments (Note 10)	(1,215)	(9)
Deferred financing costs	(58)	(9)
Revolving credit facility borrowings (Note 10)	500	75
Revolving credit facility repayments (Note 10)	(500)	(5)
Share repurchases (Note 15)	(298)	(103)
Tax payments related to net-settled stock-based awards (Note 13)	(140)	0
Other	(6)	0
Net cash provided by (used in) financing activities	2,283	(51)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents	(514)	(230)
Beginning of period cash and cash equivalents and restricted cash and cash equivalents	752	365
End of period cash and cash equivalents and restricted cash and cash equivalents	$ 238	$ 135