> STUVWXYZ l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1Courier New1Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)**_($* #,##0_);_($* (#,##0);_($* ""_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* ""_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* ""??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* ""??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)60%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0) + ) , * Ј ~~ ؈ ~~#؈ ~~ ؈ ~~8#܈ ~~9#܈ ~~4#܈ ~~3#܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33?Clearway Energy Inc Clearway Energy Inc (1)S/YesNo=RESULTS OF OPERATIONSPGLOSSARY OF TERMSoIncome Statement&)CONSOLIDATED STATEMENTS OF COMPZ
Balance Sheet
Cash FlowsNShareholders Equity5Shareholders Equity (1)&mCash and Cash Equivalents and R&}Accumulated Depreciation Accumu&kDividends to Class A and Class &Clearway Energy LLC DistributioDisaggregated Revenues!(Disaggregated Revenues (1)!IDisaggregated Revenues (2)!Disaggregated Revenues (3)!Disaggregated Revenues (4)!gDisaggregated Revenues (5)!$Disaggregated Revenues (6)!:Disaggregated Revenues (7)LContract Balances[Buckthorn Renewables LLC&tInvestments Accounted for by th&Fair Value Accounting under ASC&Fair Value Accounting under (1)&Recurring Fair Value Measuremen&lRecurring Fair Value Measur (1)&Derivative Fair Value Measureme&Derivative Fair Value Measu (1)&Volumetric Underlying Derivativ&Fair Value of Derivative Instru&Fair Value of Derivative In (1)&p,Fair Value of Derivative In (2)&a>Accumulated Other Comprehensive&9VImpact of Derivative Instrumentf
Longterm Debt QNote 8 Earnings Per Share$Note 8 Earnings Per Share (1)$Note 8 Earnings Per Share (2)Note 9 Segment Reporting#5Note 9 Segment Reporting (1)#Note 9 Segment Reporting (2)#?2Note 9 Segment Reporting (3)OEffective Tax Rate
IaLessee=q
Lessee (1)
Lessee (2);
Lessee (3)&Introduction Environmental Regu& Introduction Environmental (1)&Introduction Environmental (2)&`Introduction Environmental (3) Introduction and Overview$?
Introduction and Overview (1)&w2Consolidated Results of Operati&+gConsolidated Results of Ope (1)zEconomic Gross Margin ]Economic Gross Margin (1)Interest Expense Economic Gross Margin (2)Interest Expense (1)Liquidity PositionNCredit Ratings"fCash Dividends to Investors{"Cash Flow Discussion&h3Net Cash Provided by Operating &CNet Cash Used in Investing Acti&3WNet Cash Used in Financing Acti&biDerivative Fair Value Measu (2)&xDerivative Fair Value Measu (3)ITEM 6 EXHIBITS
l 1
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }<(}}}
Clearway Energy, Inc.10Q
08/06/2019Clearway Energy, Inc.
Delaware
461777204$(State or other jurisdiction(I.R.S. Employer)!of incorporation or organization)Identification No.)
&300 Carnegie Center, Suite 300 Princeton
New Jersey~
r0((Address of principal executive offices)
(Zip Code)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.th\,BeYM%=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncYesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}0}1
Clearway Energy, Inc.10Q
08/06/2019Clearway Energy, Inc.
Title of each class
Trading Symbol(s)1
)Name of each exchange on which registered%Class A Common Stock, par value $0.01CWEN.ANew York Stock Exchange%Class C Common Stock, par value $0.01CWENNew York Stock Exchange
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tth\8a=PF0*8X>
@
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)RESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U}$}}$
Clearway Energy, Inc.10Q
08/06/2019
YesNo
Large accelerated filer
?
Accelerated filer
?Nonaccelerated filer ?!Smaller reporting company ?Emerging growth company ?
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Txl<:."=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$4}
%
Clearway Energy, Inc.10Q
08/06/2019RESULTS OF OPERATIONS .
&CAUTIONARY STATEMENT REGARDING FORWARD~
LOOKING INFORMATIONGLOSSARY OF TERMS~
&
PART I  FINANCIAL INFORMATION~
/'ITEM 1  FINANCIAL STATEMENTS AND NOTES~
,$ITEM 2  MANAGEMENT?S DISCUSSION AND~
3+ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS%ITEM 3  QUANTITATIVE AND QUALITATIVE~
%DISCLOSURES ABOUT MARKET RISK( ITEM 4  CONTROLS AND PROCEDURES~
#PART II  OTHER INFORMATION~
"ITEM 1  LEGAL PROCEEDINGS~
ITEM 1A  RISK FACTORS~
%ITEM 2  UNREGISTERED SALES OF EQUITY~
&SECURITIES AND USE OF PROCEEDS0(ITEM 3  DEFAULTS UPON SENIOR SECURITIES~
( ITEM 4  MINE SAFETY DISCLOSURES~
"ITEM 5  OTHER INFORMATION~
ITEM 6  EXHIBITS~
SIGNATURES~
Dlth\DAtKx9_4 !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$ }8
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Clearway Energy, Inc.10Q
08/06/2019GLOSSARY OF TERMS
PG&E Bankruptcy
1
)On January 29, 2019, PG&E Corporation and.&Pacific Gas and Electric Company filed0(voluntary petitions for relief under the
/
'Bankruptcy Code in the Bankruptcy CourtPPA Power Purchase Agreement
RENOM2*Clearway Renewable Operation & MaintenanceLLCROFORight of First Offer
RPV HoldcoRPV Holdco 1 LLCRTO*"Regional Transmission OrganizationSEC/'U.S. Securities and Exchange CommissionSenior Notes/'Collectively, the 2024 Senior Notes andthe 2026 Senior NotesSPPSolar Power PartnersTax Act%Tax Cuts and Jobs Act of 2017Thermal Business%The Company's thermal business, which1)consists of thermal infrastructure assets4,that provide steam, hot water and/or chilled1)water, and in some instances electricity,/'to commercial businesses, universities,( hospitals and governmental unitsTSA%Transition Services AgreementDt lxl`
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMS!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }y<}$ }$}$ }$}
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Clearway Energy, Inc.10Q
08/06/2019Income Statement
#
Three months ended June 30,
!
Six months ended June 30,/'(In millions, except per share amounts)~
~
~
~
Operating Revenues
Total operating revenues~
r
~
~
~
R
$Operating Costs and Expenses
Cost of operations~
>~
*~
~
%Depreciation and amortization~
f~
J~
~
Impairment losses~
N ~
N
"General and administrative~
~
~
6~
.)!Transaction and integration costs~
~
~
~
Development costs~
~
*"Total operating costs and expenses~
~
~
~
NOperating Income~
^~
B~
~
Other Income (Expense)
7/Equity in earnings of unconsolidated affiliates~
.~
v~
:~
Other income, net~
~
~
~
#Loss on debt extinguishment( 1 )  ( 1 )
Interest expense
( 130 )( 71 )
( 231 )
( 126 ) Total other expense, net
( 119 )( 41 )
( 214 )
( 91 ))!(Loss) Income Before Income Taxes( 32 )~
( 86 )~
$Income tax expense (benefit)~
~
( 3 )~
Net (Loss) Income( 36 )~
( 83 )~
Dlyma=<f
X> YD !"#$%&'()*+,./0123456789:;<=>?0 (Less: Preacquisition net income of Drop    ~
!Down Assets3"+Net (Loss) Income Excluding Preacquisition"( 36 ")"~
"""" ( 83 ")"~
"
r"&#Net Income of Drop Down Assets:$2Less: (Loss) Income attributable to noncontrolling$( 12 $)$~
$F$$$ ( 39 $)$$
( 3 $)% interests2&*Net (Loss) Income Attributable to Clearway
&$( 24 &)&~
&>&&
& $( 44 &)&~
&
~&'Energy, Inc.0(((Losses) Earnings Per Share Attributable((((( ((
2)*to Clearway Energy, Inc. Class A and Class*C Common Stockholders1+)Weighted average number of Class A common~
+++~
+++~
+ ++~
+
+",shares outstanding  basic1)Weighted average number of Class A common~
~
~
 ~

$.shares outstanding  diluted1/)Weighted average number of Class C common~
/&//~
///~
/ &//~
/
/"0shares outstanding  basic11)Weighted average number of Class C common~
1&11~
1:11~
1 &11~
1
61$2shares outstanding  diluted.3&(Losses) Earnings per Weighted Average3$( 0.22 3)33p=
ף?333 $( 0.41 3)33
Gz?304(Class A and Class C Common Share  Basic.5&(Losses) Earnings per Weighted Average5( 0.22 5)55Q?555 ( 0.41 5)55
?5&6Class A Common Share  Diluted.7&(Losses) Earnings per Weighted Average7( 0.22 7)77ffffff?777 ( 0.41 7)77
{Gz?7&8Class C Common Share  Diluted*9"Dividends Per Class A Common Share9?999?999 ?999
Cl?9*:"Dividends Per Class C Common Share:?:::?::: ?:::
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }7}$ }$}
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Clearway Energy, Inc.10Q
08/06/2019>6CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
#
Three months ended June 30,
!
Six months ended June 30,
(In millions)~
~
~
~
Net (Loss) Income
$( 36 )~
$( 83 )~
'
Other Comprehensive (Loss) Gain
.&Unrealized gain on derivatives, net of~
~
~
~
b1)income tax benefit of $0, $0, $0 and ($3) Other comprehensive gain~
~
~
~
b#Comprehensive (Loss) Income( 31 )~
( 80 )~
0(Less: Preacquisition net income of Drop   ~
Down Assets6.Less: Comprehensive (loss) income attributable( 10 )~
V ( 38 )~
*#to noncontrolling interests0(Comprehensive (Loss) Income Attributable
$( 21 )~
J
$( 42 )~
to Clearway Energy, Inc.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<jk_SG;{rYBvOcW/=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }7}$ }$}$ }$
I
Clearway Energy, Inc.10Q
08/06/2019
Balance Sheet $
(In millions, except shares)
June 30, 2019
December 31, 2018ASSETS(unaudited)Current Assets!
Cash and cash equivalents~
v
~
^
Restricted cash~
.~
#Accounts receivable  trade~
~
'Accounts receivable  affiliate~
 Inventory~
~
,$Prepayments and other current assets~
j~
vTotal current assets~
~
*"Property, plant and equipment, net~
W~
QOther Assets( Equity investments in affiliates~
6~
RIntangible assets, net~
~
Derivative instruments ~
"Deferred income taxes~
~
Right of use assets, net~
 Other noncurrent assets~
~
Total other assets~
)~
'Total Assets~
n~
҄,$LIABILITIES AND STOCKHOLDERS? EQUITYCurrent LiabilitiesDlpdY[5eO+d !"#$%&'()*+,./0123456789:;<=>?) !Current portion of longterm debt~
~
^ !Accounts payable  trade~
!!!~
!!$"Accounts payable  affiliate~
"""~
"N"#Derivative instruments~
#6##~
## $Accrued interest expense~
$$$~
$$6%.Accrued expenses and other current liabilities~
%%%~
%%!&Total current liabilities~
&>!&&~
&&'Other Liabilities'''(Longterm debt~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance SheetShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Lessee (1)
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Clearway Energy, Inc.10Q
08/06/2019
Cash Flows
!
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Lessee (2)
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Clearway Energy, Inc.10Q
08/06/2019Shareholders' Equity
(In millions)
Preferred Stock
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Total PaidIn
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Stockholders' Capital
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Balance Sheet
Cash FlowsShareholders Equity!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019Shareholders' Equity
(In millions)
Preferred Stock
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Additional
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Accumulated
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Total PaidIn
OtherInterest
Stockholders' Capital
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }1}$
Clearway Energy, Inc.10Q
08/06/20196.Cash and Cash Equivalents, and Restricted Cash
June 30,
December 31,~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }2}$
Clearway Energy, Inc.10Q
08/06/2019:2Accumulated Depreciation, Accumulated Amortization
June 30, 2019
December 31, 2018
(In millions)1)Property, Plant and Equipment Accumulated~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Lessee (1)
Lessee (2)
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Clearway Energy, Inc.10Q
08/06/2019<4Dividends to Class A and Class C common stockholders
Second Quarter 2019
First Quarter 2019#Dividends per Class A share??#Dividends per Class C share??
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class Disaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Lessee (1)
Lessee (2)
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Clearway Energy, Inc.10Q
08/06/20190(Clearway Energy LLC Distributions to CEG
Second Quarter 2019
First Quarter 2019&Distributions per Class B Unit??&Distributions per Class D Unit??
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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08/06/2019Disaggregated Revenues
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Lessee (1)
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Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
Clearway Energy, Inc.10Q
08/06/2019Disaggregated Revenues
Conventional Generation
Renewables
Thermal
TotalEnergy revenue~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
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Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }7}$ }$}$ }$}
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Clearway Energy, Inc.10Q
08/06/2019Disaggregated Revenues
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Six months ended June 30, 2019
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Renewables Thermal
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~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Lessee (1)
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Clearway Energy, Inc.10Q
08/06/2019Disaggregated Revenues
Conventional Generation
Renewables
Thermal
TotalEnergy revenue~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$4}$ }$}$ }$}
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Clearway Energy, Inc.10Q
08/06/2019Disaggregated Revenues
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(In millions)Conventional Generation
Renewables Thermal
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Capacity revenue (a)~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Lessee (1)
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Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
Clearway Energy, Inc.10Q
08/06/2019Disaggregated Revenues
Conventional Generation
Renewables
Thermal
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Capacity revenue~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
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Clearway Energy, Inc.10Q
08/06/2019Disaggregated Revenues
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Six months ended June 30, 2018
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Renewables Thermal
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
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Clearway Energy, Inc.10Q
08/06/2019Disaggregated Revenues
Conventional Generation
Renewables
Thermal
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Buckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
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Clearway Energy, Inc.10Q
08/06/2019Contract Balances
(In millions)
June 30, 20191)Accounts receivable, net  Contracts with~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract Balances!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0}$
Clearway Energy, Inc.10Q
08/06/2019!Buckthorn Renewables, LLC
(In millions)
Oahu Solar Partnership
Kawailoa Partnership
Alta Wind TE Holdco
Spring Canyon
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
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Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$}$
Clearway Energy, Inc.10Q
08/06/2019VNInvestments Accounted for by the Equity Method and Variable Interest Entities,
(In millions)
Maximum exposure to loss Four Brothers Solar, LLC~
GenConn Energy LLC~
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N&Granite Mountain Holdings, LLC~
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"Iron Springs Holdings, LLC~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
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Clearway Energy, Inc.10Q
08/06/2019+#Fair Value Accounting under ASC 820
As of June 30, 2019
As of December 31, 2018Carrying Amount
Fair Value Carrying Amount
Fair Value
(In millions)
Liabilities:
5Longterm debt, including current portion (a)~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }1}$
Clearway Energy, Inc.10Q
08/06/2019+#Fair Value Accounting under ASC 820
As of June 30, 2019
As of December 31, 2018Level 2Level 3 Level 2
Level 3
(In millions)1
)Longterm debt, including current portion~
~
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~
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$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*Sh~rfZN4=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U}$
Clearway Energy, Inc.10Q
08/06/2019)!Recurring Fair Value Measurements
As of June 30, 2019
As of December 31, 2018Fair Value (a)
Fair Value (a)
(In millions)Level 2Level 3
Total
Level 2
Derivative assets:
Interest rate contracts
$
$
$~
.Total assets   ~
.Derivative liabilities:
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~
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"
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0}$ }$}$ }$}
$
Clearway Energy, Inc.10Q
08/06/2019)!Recurring Fair Value Measurements
#
Three months ended June 30,
!
Six months ended June 30,~
~
~
~
(In millions)0(Fair Value Measurement Using Significant 0
(Fair Value Measurement Using Significant
%
Unobservable Inputs (Level 3)
%
Unobservable Inputs (Level 3)Beginning balance$( 7 )
$
$
$ Purchases  
( 7 )
Ending balance$( 7 )
$
$( 7 )
$$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0th\Pui]5=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$ }}$} }
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Clearway Energy, Inc.10Q
08/06/2019*"Derivative Fair Value Measurements
June 30, 2019
Fair Value Input/RangeAssetsLiabilitiesValuation Technique&Significant Unobservable Input LowHigh
Weighted Average
(In millions)
Power Contracts
$~
Discounted Cash Flow&Forward Market Price (per MWh)~
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~~
2$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,sg[Ov1x$=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }I"}y
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Clearway Energy, Inc.10Q
08/06/2019*"Derivative Fair Value Measurements $
Significant Observable Input
Position
Change In Input(
Impact on Fair Value Measurement"Forward Market Price PowerBuyIncrease/(Decrease)Higher/(Lower)"Forward Market Price PowerSellIncrease/(Decrease)Lower/(Higher)
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(RTsg[O.=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}I }$ }$} $
Clearway Energy, Inc.10Q
08/06/20195Volumetric Underlying Derivative Transactions
Total Volume
June 30, 2019December 31, 2018 Commodity
Units
(In millions)
Power
MWh
( 2
)

Natural Gas
MMBtu~
~
InterestDollars~
~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$4}$
!
Clearway Energy, Inc.10Q
08/06/2019,$Fair Value of Derivative Instruments
Fair ValueDerivative Assets (a) Derivative Liabilities
June 30, 2019December 31, 2018
June 30, 2019
December 31, 2018
(In millions)3+Derivatives Designated as Cash Flow Hedges:
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }y#}$ }$}
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Clearway Energy, Inc.10Q
08/06/2019,$Fair Value of Derivative Instruments
As of June 30, 20196
.Gross Amounts of Recognized Assets/Liabilities
Derivative Instruments
Net AmountCommodity contracts:
(In millions)Derivative assets
$
$
$
Derivative liabilities
( 8
)

( 8
)!Total commodity contracts$( 8 )
$ $( 8 ) Interest rate contracts: Derivative assets   Derivative liabilities( 71 )  ( 71 )%Total interest rate contracts( 71 )  ( 71 )$Total derivative instruments
$( 79 )
$
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }y#}$ }$}$ }$}
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Clearway Energy, Inc.10Q
08/06/2019,$Fair Value of Derivative Instruments
As of December 31, 20186
.Gross Amounts of Recognized Assets/Liabilities
Derivative Instruments
Net Amount Interest rate contracts:
(In millions)Derivative assets~
.$( 1 )~
*
Derivative liabilities
( 21
)
~
( 20
)%Total interest rate contracts( 10 )  ( 10 )$Total derivative instruments
$( 10 )
$
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }7}$ }$}$ }$}
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Clearway Energy, Inc.10Q
08/06/2019,$Accumulated Other Comprehensive Loss
#
Three months ended June 30,
!
Six months ended June 30,~
~
~
~
(In millions))
!Accumulated OCL beginning balance
$( 40
)
$( 43
)
$( 38
)
$( 60
)3+Reclassified from accumulated OCL to income~
:~
~
F~
1)due to realization of previously deferredamounts4,Marktomarket of cash flow hedge accounting( 9 )~
( 14 )~
J contracts.&Accumulated OCL ending balance, net of( 35 )( 36 ) ( 35 )
( 36 )5income tax benefit of $6 and $6, respectively6.Accumulated OCL attributable to noncontrolling
$( 19 )
$( 19 )
$( 19 )
$( 19 ) interests0(Accumulated OCL attributable to Clearway
$( 16 )
$( 17 )
$( 16 )
$( 17 )Energy, Inc./'Losses expected to be realized from OCL$( 9 ) $( 9 )
0(during the next 12 months, net of incometax benefit of $0$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BX}qeYM) ,k7=PF0*8X>
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }2}$ }$}
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Clearway Energy, Inc.10Q
08/06/2019H@Impact of Derivative Instruments on the Statements of Operations
#
Three Months Ended June 30,
!
Six Months Ended June 30,~
~
~
~
(In millions)2
*Interest Rate Contracts (Interest Expense)
$( 36
)
~
$( 54
)
~
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Clearway Energy, Inc.10Q
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June 30, 2019
December 31, 2018
*
"June 30, 2019, interest rate % (a)
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~
#(In millions, except rates)
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019!Note 8 Earnings Per Share
#
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019!Note 8 Earnings Per Share
!
Six months ended June 30,~
~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019!Note 8 Earnings Per Share
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019 Note 9 Segment Reporting
(
Three months ended June 30, 2019
(In millions)Conventional Generation
Renewables Thermal
Corporate
TotalOperating revenues~
R~
f~
$~
r
Cost of operations~
6
~
~
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%Depreciation and amortization~
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~
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fImpairment losses  ~
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~
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integration costsDevelopment costs  ~
~
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~
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~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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08/06/2019 Note 9 Segment Reporting
(
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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08/06/2019 Note 9 Segment Reporting
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(In millions)Conventional Generation
Renewables Thermal
Corporate
TotalOperating revenues~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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08/06/2019 Note 9 Segment Reporting
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(In millions)Conventional Generation
Renewables Thermal
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }<(}$ }U}$ }$}
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Clearway Energy, Inc.10Q
08/06/2019Effective Tax Rate
#
Three months ended June 30,
!
Six months ended June 30,)!(In millions, except percentages)~
~
~
~
&Loss before income tax benefit
$( 32 )~
$( 86 )~
Income tax benefit~
~
( 3
)
~
!Effective income tax rate( 12.5
)%333333@ % @ %
@ %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,wk_;HvjB=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax Rate
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
Clearway Energy, Inc.10Q
08/06/2019Lessee
(In millions)
$Three months ended June 2019"Six months ended June 2019Operating lease cost~
~
Variable lease cost
~
~
Total lease cost~
~
.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,4wkDm=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0.}$
Clearway Energy, Inc.10Q
08/06/2019Lessee +
#(In millions, except term and rate)
*"ROU Assets  operating leases, net~
.
&Shortterm lease liability  operating
~
leases (a)%Longterm lease liability  operating~
leasesTotal lease liability~
&Cash paid for operating leases~
%Weighted average remaining lease term~
f&Weighted average discount rate
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0}$ }$
Clearway Energy, Inc.10Q
08/06/2019Lessee
(In millions)
Remainder of 2019~
~
~
:~
~
:
~
~
6~
~
6
Thereafter~
Total lease payments~
Less imputed interest
( 117 )0(Total lease liability  operating leases~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6wk/Si=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
Clearway Energy, Inc.10Q
08/06/2019Lessee
(In millions)
~
~
6~
~
6~
~
6
~
~
6~
~
2
Thereafter~
>Total lease payments~
>$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2wk/b.xl`8=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }'}$
Clearway Energy, Inc.10Q
08/06/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
(
Three months ended June 30, 2019
(In millions)Conventional Generation
Renewables
Thermal
TotalEnergy revenue~
~
v ~
~
~
Capacity revenue
~
V


~
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Operating revenue~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$}$
Clearway Energy, Inc.10Q
08/06/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
&
Six months ended June 30, 2019
(In millions)Conventional Generation
Renewables
Thermal
TotalEnergy revenue~
~
~
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Capacity revenue
~


~
Operating revenue~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
Clearway Energy, Inc.10Q
08/06/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
(In millions)
Remainder of 2019~
~
~
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~
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~
~
j~
~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }<(}$ }$
Clearway Energy, Inc.10Q
08/06/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
(In millions)
%Property, plant and equipment~
^ Accumulated depreciation( 1,509 ))
!Net property, plant and equipment~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }m)}$ }U}$}$ }U}$ }} $ }
3
Clearway Energy, Inc.10Q
08/06/2019!Introduction and Overview
Projects
Percentage Ownership
Net Capacity (MW) (a)
Offtake Counterparty
ExpirationConventional
El Segundo~
%~
"Southern California Edison ~
GenConn Devon
~
%
~
~
!
Connecticut Light & Power
~
GenConn Middletown~
%~
~!Connecticut Light & Power ~
Marsh Landing~
%~
B Pacific Gas and Electric ~
Walnut Creek~
%~
"Southern California Edison ~
~
f
Utility Scale Solar
Agua Caliente~
B %~
Pacific Gas and Electric ~
Alpine~
%~
Pacific Gas and Electric ~
Avenal~
%~
^ Pacific Gas and Electric ~
Avra Valley~
%~
jTucson Electric Power ~
Blythe~
%~
V"Southern California Edison ~
Borrego~
%~
j"San Diego Gas and Electric ~
Buckthorn Solar (b)~
%~
jCity of Georgetown, TX ~
CVSR~
%~
Pacific Gas and Electric ~
Desert Sunlight 250~
f %~
"Southern California Edison ~
Desert Sunlight 300~
f %~
. Pacific Gas and Electric ~
Kansas South~
%~
R Pacific Gas and Electric ~
Roadrunner~
%~
REl Paso Electric ~
TA High Desert~
%~
R"Southern California Edison ~
D#lpdXA*1/yd !"#$%&'()*+,./012* " Utah Solar Portfolio (b) (e) ~
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&
PacifiCorp ~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and Overview!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }<(}$ }U}$}$ }U}$ }a/} $ }
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Clearway Energy, Inc.10Q
08/06/2019!Introduction and Overview
Projects
Percentage Ownership
Net Capacity (MW) (a)
Offtake Counterparty
Expiration
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~
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~
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~
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%~
NRG Power Marketing LLC ~
Elkhorn Ridge̬P@ %~
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Forward~
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Goat Wind~
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ZDow Pipeline Company ~
Hardin~
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Laredo Ridge~
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Lookout~
%~
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OdinX@ %~
R&Missouri River Energy Services ~
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San Juan Mesa~
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South Trent~
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019*"Consolidated Results of Operations
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019*"Consolidated Results of Operations
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019Economic Gross Margin
(In millions)
Conventional Generation
Renewables
Thermal
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
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Clearway Energy, Inc.10Q
08/06/2019Economic Gross Margin
Segment
Increase (Decrease)&
Reason for Increase (Decrease)Renewables:~
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6
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019Interest Expense
(In millions)
Increase (Decrease)3+Change in fair value of interest rate swaps%Reclassification of losses previously~
:7
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019Economic Gross Margin
(In millions)
Conventional Generation
Renewables
Thermal
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Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
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Clearway Energy, Inc.10Q
08/06/2019Interest Expense
(In millions)
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Balance Sheet
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Lessee (1)
Lessee (2)
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Clearway Energy, Inc.10Q
08/06/2019Liquidity Position
(In millions)
June 30, 2019
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LLC, excluding subsidiariesSubsidiaries~
Z~
Restricted cash:Operating accounts~
~
R80Reserves, including debt service, distributions,~
>~
r2*performance obligations and other reserves3+Total cash, cash equivalents and restricted~
~
cash.&Revolving credit facility availability~
~
Total liquidity~
~
6$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<wk_6*t3#>2&=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }y#}}$ }I
Clearway Energy, Inc.10Q
08/06/2019Credit Ratings
S&P
Moody'sClearway Energy, Inc.
BBBa2%5.375% Senior Notes, due 2024
BBBa2%
5.750% Senior Notes, due 2025
BB
Ba2%5.000% Senior Notes, due 2026
BBBa2$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,{oc3]y=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }!}$
Clearway Energy, Inc.10Q
08/06/2019#Cash Dividends to Investors
Second Quarter 2019
First Quarter 2019#Dividends per Class A share??#Dividends per Class C share??
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(~TznbV{S=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to Investors!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }1}$
Clearway Energy, Inc.10Q
08/06/2019Cash Flow Discussion
!
Six months ended June 30,
~
~
Change
(In millions)1
)Net cash provided by operating activities~
Z
~
~
%Net cash used in investing activities~
~
j~
N%Net cash used in financing activities~
z~
~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }:}$
Clearway Energy, Inc.10Q
08/06/20191)Net Cash Provided by Operating Activities 1
)Changes to net cash provided by operating
(In millions)"activities were driven by:%Decrease in operating income adjusted~
for noncash items4,Increase in working capital driven primarily~
.80by the timing of accounts receivable collections'and payment of accounts payable/'Lower distributions from unconsolidated~
affiliates~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6xl`THY;5=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }:}$
$
Clearway Energy, Inc.10Q
08/06/2019%Net Cash Used in Investing Activities 8
0Changes to net cash used in investing activities
(In millions)
were driven by:/'Increase in capital expenditures driven~
63
+by the Company investment in the Repowering,$Partnership and development projectsin the Thermal segment/'Higher payment for the Drop Down Assets~
/'and other acquisitions in 2018 comparedto 20191)Payment to buy out an existing tax equity~
4,partner of Wind TE Holdco on January 2, 2019.&Cash receipts from network upgrades in~
~
.&Lower net investment in unconsolidated~
2*affiliates in the distributed partnershipswith CEG during 20190(Payment to acquire the Class A interests~
80in the Oahu Partnership and Kawailoa Partnershipin 2019
Other~
~
NDlpdXLS}J7dV
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }I;}$
Clearway Energy, Inc.10Q
08/06/2019%Net Cash Used in Financing Activities 8
0Changes in net cash used in financing activities
(In millions)
were driven by:3+Lower net contributions from noncontrolling~
^*
"interests in 2019 compared to 2018/'Higher net repayments of longterm debt~
80in 2019 compared to 2018, driven by the maturity3+and repayment of the 2019 Convertible Notes$in the first quarter of 2019.&Net proceeds from the Clearway Energy,~
0(Inc. common stock offering under the ATMProgram in 2018/'Net payments under the revolving credit~
facility in 201891Decrease in dividends paid to common stockholders~
from 2018 to 2019~
r$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BzXpdXLO!a9Q5[=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$4}$
Clearway Energy, Inc.10Q
08/06/2019NFDerivative Fair Value Measurements Fair Value of Financial Instruments *
"Derivative Activity (Losses)/Gains
(In millions)2*Fair value of contracts as of December 31,~
~
/
'Contracts realized or otherwise settled~
"
during the periodChanges in fair value~
3+Fair value of contracts as of June 30, 2019~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0[OC7+dV `TH =PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)ITEM 6 EXHIBITSU }*}$
Clearway Energy, Inc.10Q
08/06/2019NFDerivative Fair Value Measurements Fair Value of Financial Instruments
3
+Fair value of contracts as of June 30, 2019Maturity+#Fair Value Hierarchy (Losses)/Gains1 Year or LessGreater Than Greater Than
Greater Than
Total Fair
1 Year to 3 Years
3 Years to 5 Years
5 Years
Value
(In millions)Level 2~
~
~
~
~
Level 3  ~
~
~
Total~
~
~
~
~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IClearway Energy IncClearway Energy Inc (1)YesNoRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash FlowsShareholders EquityShareholders Equity (1)!Cash and Cash Equivalents and R!Accumulated Depreciation Accumu!Dividends to Class A and Class !Clearway Energy LLC DistributioDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Disaggregated Revenues (4)Disaggregated Revenues (5)Disaggregated Revenues (6)Disaggregated Revenues (7)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive!Impact of Derivative Instrument
Longterm DebtNote 8 Earnings Per ShareNote 8 Earnings Per Share (1)Note 8 Earnings Per Share (2)Note 9 Segment ReportingNote 9 Segment Reporting (1)Note 9 Segment Reporting (2)Note 9 Segment Reporting (3)Effective Tax RateLessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)!Introduction Environmental (3)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseEconomic Gross Margin (2)Interest Expense (1)Liquidity PositionCredit RatingsCash Dividends to InvestorsCash Flow Discussion!Net Cash Provided by Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)U }I }$ }7}$ }
%
Clearway Energy, Inc.10Q
08/06/2019ITEM 6 EXHIBITS
Number
Description
Method of Filing333333$@0(Second Amendment to Right of First OfferFiled herewith./'Agreement, dated August 1, 2019, by and
6
.between Clearway Energy Group LLC and ClearwayEnergy, Inc.?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith. of Christopher S. Sotos.333333?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith.of Chad Plotkin.L?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith.of MaryLee Stillwell.~
#Section 1350 Certification.Furnished herewith.101 INS&Inline XBRL Instance Document.Filed herewith.101 SCH.&Inline XBRL Taxonomy Extension Schema.Filed herewith.101 CAL2*Inline XBRL Taxonomy Extension CalculationFiled herewith. Linkbase.101 DEF1)Inline XBRL Taxonomy Extension DefinitionFiled herewith. Linkbase.101 LAB6.Inline XBRL Taxonomy Extension Label Linkbase.Filed herewith.101 PRE3+Inline XBRL Taxonomy Extension PresentationFiled herewith. Linkbase.~
3+Cover Page Interactive Data File (the coverFiled herewith.DSlznb&PY%t wO !"#$ 2 *page interactive data file does not appear!!3!+in Exhibit 104 because its Inline XBRL tags$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/Pc;=PF0*8X>
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