Vistra Corp. (VST) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-01-01 to 2024-12-31

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Vistra Corp. cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income (loss) → Net cash from operating activities: $2,812,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $2,631,000,000.00Margin deposits, net → Operating adjustments reconciliation: $842,000,000.00Deferred income tax expense (benefit), net → Operating adjustments reconciliation: $607,000,000.00Bad debt expense → Operating adjustments reconciliation: $183,000,000.00Asset retirement obligation accretion expense → Operating adjustments reconciliation: $114,000,000.00Stock-based compensation → Operating adjustments reconciliation: $100,000,000.00Change in asset retirement obligation liability → Operating adjustments reconciliation: $38,000,000.00Accounts payable — trade → Operating adjustments reconciliation: $19,000,000.00Accrued employee incentive → Operating adjustments reconciliation: $8,000,000.00Impacts of Tax Receivable Agreement → Operating adjustments reconciliation: $5,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,751,000,000.00Operating adjustments reconciliation → Unrealized net (gain) loss from mark-to-market valuations of commodities: $1,155,000,000.00Operating adjustments reconciliation → Other — net assets: $616,000,000.00Operating adjustments reconciliation → Accounts receivable — trade: $242,000,000.00Operating adjustments reconciliation → Commodity and other derivative contractual assets and liabilities: $175,000,000.00Operating adjustments reconciliation → Unrealized net gain from nuclear decommissioning trusts: $116,000,000.00Operating adjustments reconciliation → Other — net liabilities: $111,000,000.00Operating adjustments reconciliation → Major plant outage deferral: $91,000,000.00Operating adjustments reconciliation → Other, net: $89,000,000.00Operating adjustments reconciliation → Asset retirement obligation settlement: $88,000,000.00Operating adjustments reconciliation → Unrealized net (gain) loss from mark-to-market valuations of interest rate swaps: $53,000,000.00Operating adjustments reconciliation → Inventories: $31,000,000.00Operating adjustments reconciliation → Accrued interest: $18,000,000.00Operating adjustments reconciliation → Gain on TRA repurchase and tender offers: $10,000,000.00Operating adjustments reconciliation → Accrued taxes: $1,000,000.00Proceeds from sales of nuclear decommissioning trust fund securities → investing reconciliation: $2,216,000,000.00Proceeds from sales of environmental allowances → investing reconciliation: $773,000,000.00Proceeds from sales of property, plant, and equipment, including nuclear fuel → investing reconciliation: $196,000,000.00Proceeds from sales of transferable ITCs → investing reconciliation: $150,000,000.00investing reconciliation → Energy Harbor acquisition (net of cash acquired): $3,065,000,000.00investing reconciliation → Investments in nuclear decommissioning trust fund securities: $2,239,000,000.00investing reconciliation → Capital expenditures, including nuclear fuel purchases and LTSA prepayments: $2,078,000,000.00investing reconciliation → Purchases of environmental allowances: $1,226,000,000.00investing reconciliation → Other, net: $3,000,000.00Net cash used in financing activities → financing reconciliation: $1,604,000,000.00Issuances of long-term debt → financing reconciliation: $3,817,000,000.00Borrowings under Commodity-Linked Facility → financing reconciliation: $1,802,000,000.00Net borrowings (repayments) under accounts receivable financing → financing reconciliation: $750,000,000.00Borrowings under Revolving Credit Facility → financing reconciliation: $50,000,000.00financing reconciliation → Repayments/repurchases of debt: $2,287,000,000.00financing reconciliation → Repayments under Commodity-Linked Facility: $1,802,000,000.00financing reconciliation → Principal payment on Closing Date: $1,748,000,000.00financing reconciliation → Stock repurchases: $1,266,000,000.00financing reconciliation → Dividends paid to common stockholders: $305,000,000.00financing reconciliation → Dividends paid to noncontrolling and redeemable noncontrolling interest holders: $180,000,000.00financing reconciliation → Dividends paid to preferred stockholders: $173,000,000.00financing reconciliation → TRA Repurchase and tender offer — return of capital: $122,000,000.00financing reconciliation → Debt issuance costs: $76,000,000.00financing reconciliation → Repayments under Revolving Credit Facility: $50,000,000.00financing reconciliation → Other, net: $14,000,000.00Net cash used in investing activities → investing reconciliation: $5,276,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $3,539,000,000.00Net cash from operating activities → Cash sources and uses: $4,563,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,222,000,000.00Cash sources and uses → Net cash used in investing activities: $5,276,000,000.00Cash sources and uses → Net cash used in financing activities: $1,604,000,000.00Accounts payable — trade: $19,000,000.00Accounts payable+$19.00 MMargin deposits, net: $842,000,000.00Margin deposits, net+$842.00 MImpacts of Tax Receivable Agreement: $5,000,000.00Impacts of Tax Receivable Agreement+$5.00 MChange in asset retirement obligation liability: $38,000,000.00Asset retirement settlements+$38.00 MStock-based compensation: $100,000,000.00Stock-based compensation+$100.00 MUnrealized net (gain) loss from mark-to-market valuations of commodities: -$1,155,000,000.00Commodity derivative gain & loss−$1.16 BAccrued taxes: -$1,000,000.00Accrued taxes−$1.00 MGain on sale of land: $0.00Unrealized net (gain) loss from mark-to-market valuations of interest rate swaps: -$53,000,000.00Interest rate swap gain & loss−$53.00 MCommodity and other derivative contractual assets and liabilities: -$175,000,000.00Commodity and other derivative contractual assetsand liabilities−$175.00 MImpairment of long-lived and other assets: $0.00Major plant outage deferral: -$91,000,000.00Deferred costs−$91.00 MDeferred income tax expense (benefit), net: $607,000,000.00Deferred taxes & credits+$607.00 MAccounts receivable — trade: -$242,000,000.00Accounts receivable−$242.00 MAsset retirement obligation accretion expense: $114,000,000.00Accretion expense+$114.00 MAccrued employee incentive: $8,000,000.00Accrued compensation+$8.00 MOther — net liabilities: -$111,000,000.00Other operating liabilities−$111.00 MBad debt expense: $183,000,000.00Credit loss provision+$183.00 MOther — net assets: -$616,000,000.00Other operating assets−$616.00 MGain on TRA repurchase and tender offers: -$10,000,000.00Gain on TRA repurchase and tender offers−$10.00 MDepreciation and amortization: $2,631,000,000.00D&A and accretion+$2.63 BAccrued interest: -$18,000,000.00Accrued interest−$18.00 MAsset retirement obligation settlement: -$88,000,000.00Asset retirement obligation settlement−$88.00 MOther, net: -$89,000,000.00Other non-cash items−$89.00 MInventories: -$31,000,000.00Inventories−$31.00 MUplift securitization proceeds receivable from ERCOT: $0.00Net income (loss): $2,812,000,000.00Net income (loss)+$2.81 BUnrealized net gain from nuclear decommissioning trusts: -$116,000,000.00Decommissioning trust gain & loss−$116.00 MNet cash from operating activities: $4,563,000,000.00Operating cash+$4.56 BOperating adjustments reconciliation: $4,547,000,000.00TRA Repurchase and tender offer — return of capital: -$122,000,000.00TRA Repurchase and tender offer — return of capital−$122.00 MNet borrowings (repayments) under accounts receivable financing: $750,000,000.00Receivables financing, net+$750.00 MRepayments under Commodity-Linked Facility: -$1,802,000,000.00Short-term debt repaid−$1.80 BRepayments under Revolving Credit Facility: -$50,000,000.00Credit line repayments−$50.00 MBorrowings under Revolving Credit Facility: $50,000,000.00Credit line borrowings+$50.00 MDebt issuance costs: -$76,000,000.00Financing costs paid−$76.00 MDividends paid to preferred stockholders: -$173,000,000.00Preferred dividends paid−$173.00 MDividends paid to common stockholders: -$305,000,000.00Common dividends paid−$305.00 MOther, net: -$14,000,000.00Other financing, net−$14.00 MBorrowings under Commodity-Linked Facility: $1,802,000,000.00Short-term debt issued+$1.80 BRepayments/repurchases of debt: -$2,287,000,000.00Long-term debt repaid−$2.29 BIssuances of long-term debt: $3,817,000,000.00Debt issued+$3.82 BPrincipal payment on Closing Date: -$1,748,000,000.00Paid to noncontrolling interests−$1.75 BDividends paid to noncontrolling and redeemable noncontrolling interest holders: -$180,000,000.00Dividends paid to noncontrolling and redeemablenoncontrolling interest holders−$180.00 MStock repurchases: -$1,266,000,000.00Common stock repurchases−$1.27 BNet cash used in financing activities: -$1,604,000,000.00. Cash required to fund net payments.Financing cash−$1.60 Bfinancing reconciliation: $8,023,000,000.00Capital expenditures, including nuclear fuel purchases and LTSA prepayments: -$2,078,000,000.00PP&E purchases−$2.08 BProceeds from sales of transferable ITCs: $150,000,000.00Proceeds from sales of transferable ITCs+$150.00 MProceeds from sales of property, plant, and equipment, including nuclear fuel: $196,000,000.00Other asset sales+$196.00 MProceeds from sales of nuclear decommissioning trust fund securities: $2,216,000,000.00Decommissioning trust sales+$2.22 BProceeds from sales of environmental allowances: $773,000,000.00Intangible asset sales+$773.00 MInvestments in nuclear decommissioning trust fund securities: -$2,239,000,000.00Decommissioning trust purchases−$2.24 BEnergy Harbor acquisition (net of cash acquired): -$3,065,000,000.00Acquisitions, net of cash−$3.07 BOther, net: -$3,000,000.00Other investing, net−$3.00 MPurchases of environmental allowances: -$1,226,000,000.00Intangible asset purchases−$1.23 BNet cash used in investing activities: -$5,276,000,000.00. Cash required to fund net payments.Investing cash−$5.28 Binvesting reconciliation: $8,611,000,000.00Cash sources and uses: $8,102,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $3,539,000,000.00Beginning cash$3.54 BEnding cash: Cash, cash equivalents, and restricted cash: $1,222,000,000.00Ending cash$1.22 BCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$2.49 BOperating cash − cash spent on PP&ECash flow / Net income1.62×Operating cash flow ÷ net incomeNet cash change−$2.32 BEnding cash − beginning cash
Chart details

Vistra Corp. cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024

Cash flows for Jan 1, 2024 through Dec 31, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2023. Ending cash: Dec 31, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2023
3,539,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
4,563,000,000 US dollars. Net cash provided.
Accounts payable — trade
19,000,000 US dollars
Margin deposits, net
842,000,000 US dollars
Impacts of Tax Receivable Agreement
5,000,000 US dollars
Change in asset retirement obligation liability
38,000,000 US dollars
Stock-based compensation
100,000,000 US dollars
Unrealized net (gain) loss from mark-to-market valuations of commodities
negative 1,155,000,000 US dollars
Accrued taxes
negative 1,000,000 US dollars
Gain on sale of land
0 US dollars
Unrealized net (gain) loss from mark-to-market valuations of interest rate swaps
negative 53,000,000 US dollars
Commodity and other derivative contractual assets and liabilities
negative 175,000,000 US dollars
Impairment of long-lived and other assets
0 US dollars
Major plant outage deferral
negative 91,000,000 US dollars
Deferred income tax expense (benefit), net
607,000,000 US dollars
Accounts receivable — trade
negative 242,000,000 US dollars
Asset retirement obligation accretion expense
114,000,000 US dollars
Accrued employee incentive
8,000,000 US dollars
Other — net liabilities
negative 111,000,000 US dollars
Bad debt expense
183,000,000 US dollars
Other — net assets
negative 616,000,000 US dollars
Gain on TRA repurchase and tender offers
negative 10,000,000 US dollars
Depreciation and amortization
2,631,000,000 US dollars
Accrued interest
negative 18,000,000 US dollars
Asset retirement obligation settlement
negative 88,000,000 US dollars
Other, net
negative 89,000,000 US dollars
Inventories
negative 31,000,000 US dollars
Uplift securitization proceeds receivable from ERCOT
0 US dollars
Net income (loss)
2,812,000,000 US dollars
Unrealized net gain from nuclear decommissioning trusts
negative 116,000,000 US dollars
Investing activities
negative 5,276,000,000 US dollars. Net cash used.
Capital expenditures, including nuclear fuel purchases and LTSA prepayments
negative 2,078,000,000 US dollars
Proceeds from sales of transferable ITCs
150,000,000 US dollars
Proceeds from sales of property, plant, and equipment, including nuclear fuel
196,000,000 US dollars
Proceeds from sales of nuclear decommissioning trust fund securities
2,216,000,000 US dollars
Proceeds from sales of environmental allowances
773,000,000 US dollars
Investments in nuclear decommissioning trust fund securities
negative 2,239,000,000 US dollars
Energy Harbor acquisition (net of cash acquired)
negative 3,065,000,000 US dollars
Other, net
negative 3,000,000 US dollars
Purchases of environmental allowances
negative 1,226,000,000 US dollars
Financing activities
negative 1,604,000,000 US dollars. Net cash used.
TRA Repurchase and tender offer — return of capital
negative 122,000,000 US dollars
Net borrowings (repayments) under accounts receivable financing
750,000,000 US dollars
Repayments under Commodity-Linked Facility
negative 1,802,000,000 US dollars
Repayments under Revolving Credit Facility
negative 50,000,000 US dollars
Borrowings under Revolving Credit Facility
50,000,000 US dollars
Debt issuance costs
negative 76,000,000 US dollars
Dividends paid to preferred stockholders
negative 173,000,000 US dollars
Dividends paid to common stockholders
negative 305,000,000 US dollars
Other, net
negative 14,000,000 US dollars
Borrowings under Commodity-Linked Facility
1,802,000,000 US dollars
Repayments/repurchases of debt
negative 2,287,000,000 US dollars
Issuances of long-term debt
3,817,000,000 US dollars
Principal payment on Closing Date
negative 1,748,000,000 US dollars
Dividends paid to noncontrolling and redeemable noncontrolling interest holders
negative 180,000,000 US dollars
Stock repurchases
negative 1,266,000,000 US dollars
Operating adjustment reconciliation
4,547,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
8,023,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
8,611,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Dec 31, 2024
1,222,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
8,102,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 2,317,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.62×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
4,563,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
2,078,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
2,485,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.75B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 4,563,000,000 US dollars minus 2,078,000,000 US dollars equals 2,485,000,000 US dollars.
Vistra Corp. (VST) FY2024 Annual Statement of Cash Flows Sankey chart
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