10-Q Filing

MIDWEST GENERATION LLC CIK: 1134016 Q1 2010

Filing Information

Form Type	10-Q
Accession Number	`0001047469-10-004930`
Period End Date	20100331
Filing Date	20100507
Fiscal Year	2010
Fiscal Period	Q1
XBRL Instance	mwg-20100331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 28 Cash Flow Statement 51 Comprehensive Income 14

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Membership interests, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Membership interests, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Membership interests, units authorized	`CommonStockSharesAuthorized`	100.00	shares	Point-in-time
Membership interests, units authorized	`CommonStockSharesAuthorized`	100.00	shares	Point-in-time
Membership interests, units issued	`CommonStockSharesIssued`	100.00	shares	Point-in-time
Membership interests, units issued	`CommonStockSharesIssued`	100.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$332.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$793.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$650.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$237.00M	USD	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$137.00M	USD	Point-in-time
Membership interests, units outstanding	`CommonStockSharesOutstanding`	100.00	shares	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$102.00M	USD	Point-in-time
Membership interests, units outstanding	`CommonStockSharesOutstanding`	100.00	shares	Point-in-time
Fuel inventory	`EnergyRelatedInventory`	$74.00M	USD	Point-in-time
Fuel inventory	`EnergyRelatedInventory`	$67.00M	USD	Point-in-time
Spare parts inventory	`OtherInventorySupplies`	$34.00M	USD	Point-in-time
Spare parts inventory	`OtherInventorySupplies`	$34.00M	USD	Point-in-time
Interest receivable from affiliate	`InterestReceivableFromAffiliate`	$55.00M	USD	Point-in-time
Interest receivable from affiliate	`InterestReceivableFromAffiliate`	$28.00M	USD	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$172.00M	USD	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$98.00M	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$11.00M	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$11.00M	USD	Point-in-time
Other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$31.00M	USD	Point-in-time
Other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$27.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$773.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$677.00M	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$4.41B	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$4.39B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.39B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.43B	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$2.98B	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$3.00B	USD	Point-in-time
Notes receivable from affiliate	`DueFromRelatedPartiesNoncurrent`	$1.35B	USD	Point-in-time
Notes receivable from affiliate	`DueFromRelatedPartiesNoncurrent`	$1.35B	USD	Point-in-time
Long-term derivative assets	`DerivativeAssetsNoncurrent`	$37.00M	USD	Point-in-time
Long-term derivative assets	`DerivativeAssetsNoncurrent`	$24.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.00M	USD	Point-in-time
Total Assets	`Assets`	$5.06B	USD	Point-in-time
Total Assets	`Assets`	$5.15B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$46.00M	USD	Point-in-time
Book overdrafts	`BookOverdrafts`	$4.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$62.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$48.00M	USD	Point-in-time
Due to affiliates	`DueToAffiliateCurrent`	$20.00M	USD	Point-in-time
Due to affiliates	`DueToAffiliateCurrent`	$53.00M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$26.00M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$11.00M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$11.00M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$19.00M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$43.00M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$57.00M	USD	Point-in-time
Current portion of lease financing	`CapitalLeaseObligationsCurrent`	$120.00M	USD	Point-in-time
Current portion of lease financing	`CapitalLeaseObligationsCurrent`	$111.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$333.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$337.00M	USD	Point-in-time
Lease financing, net of current portion	`CapitalLeaseObligationsNoncurrent`	$665.00M	USD	Point-in-time
Lease financing, net of current portion	`CapitalLeaseObligationsNoncurrent`	$612.00M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$199.00M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$167.00M	USD	Point-in-time
Long-term derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$4.00M	USD	Point-in-time
Long-term derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$4.00M	USD	Point-in-time
Benefit plans and other long-term liabilities	`OtherLiabilitiesNoncurrent`	$155.00M	USD	Point-in-time
Benefit plans and other long-term liabilities	`OtherLiabilitiesNoncurrent`	$149.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.32B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.31B	USD	Point-in-time
Membership interests, no par value; 100 units authorized, issued and outstanding	`CommonStockValue`	-	USD	Point-in-time
Membership interests, no par value; 100 units authorized, issued and outstanding	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.51B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.51B	USD	Point-in-time
Accumulated earnings	`RetainedEarningsAccumulatedDeficit`	$219.00M	USD	Point-in-time
Accumulated earnings	`RetainedEarningsAccumulatedDeficit`	$180.00M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$115.00M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$54.00M	USD	Point-in-time
Total Member's Equity	`StockholdersEquity`	$3.75B	USD	Point-in-time
Total Member's Equity	`StockholdersEquity`	$3.85B	USD	Point-in-time
Total Liabilities and Member's Equity	`LiabilitiesAndStockholdersEquity`	$5.06B	USD	Point-in-time
Total Liabilities and Member's Equity	`LiabilitiesAndStockholdersEquity`	$5.15B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Operating Revenues from Marketing Affiliate	`ElectricalGenerationRevenue`	$384.00M	USD	1 Quarter
Operating Revenues from Marketing Affiliate	`ElectricalGenerationRevenue`	$379.00M	USD	1 Quarter
Fuel	`FuelCosts`	$123.00M	USD	1 Quarter
Fuel	`FuelCosts`	$141.00M	USD	1 Quarter
Gain on sale of emission allowances	`GainLossOnDispositionOfIntangibleAssets`	$1.00M	USD	1 Quarter
Plant operations	`OtherCostAndExpenseOperating`	$96.00M	USD	1 Quarter
Plant operations	`OtherCostAndExpenseOperating`	$99.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$38.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$37.00M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-1.00M	USD	1 Quarter
Administrative and general	`GeneralAndAdministrativeExpense`	$5.00M	USD	1 Quarter
Administrative and general	`GeneralAndAdministrativeExpense`	$5.00M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$283.00M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$261.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$96.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$123.00M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$29.00M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$27.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$17.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$12.00M	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$12.00M	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$15.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$135.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$111.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$42.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$52.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$69.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$83.00M	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$69.00M	USD	1 Quarter
Net income	`ProfitLoss`	$83.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationCashFlowImpact`	$38.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationCashFlowImpact`	$38.00M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-1.00M	USD	1 Quarter
Gain on sale of emission allowances	`GainLossOnDispositionOfIntangibleAssets`	$1.00M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxesAndTaxCredits`	$22.00M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxesAndTaxCredits`	$7.00M	USD	1 Quarter
Decrease in due to/from affiliates	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-87.00M	USD	1 Quarter
Decrease in due to/from affiliates	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-68.00M	USD	1 Quarter
Decrease (increase) in inventory	`IncreaseDecreaseInInventories`	$27.00M	USD	1 Quarter
Decrease (increase) in inventory	`IncreaseDecreaseInInventories`	$-7.00M	USD	1 Quarter
Decrease in interest receivable from affiliate	`IncreaseDecreaseInInterestReceivableFromAffiliate`	$-27.00M	USD	1 Quarter
Decrease in interest receivable from affiliate	`IncreaseDecreaseInInterestReceivableFromAffiliate`	$-28.00M	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.00M	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.00M	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.00M	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.00M	USD	1 Quarter
Decrease in intangible assets	`IncreaseDecreaseInIntangibleAssets`	$-8.00M	USD	1 Quarter
Decrease in intangible assets	`IncreaseDecreaseInIntangibleAssets`	$-1.00M	USD	1 Quarter
Decrease in accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherCurrentLiabilities`	$-11.00M	USD	1 Quarter
Decrease in accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherCurrentLiabilities`	$-30.00M	USD	1 Quarter
Decrease in interest payable	`IncreaseDecreaseInInterestPayableNet`	$-18.00M	USD	1 Quarter
Decrease in interest payable	`IncreaseDecreaseInInterestPayableNet`	$-15.00M	USD	1 Quarter
Increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$6.00M	USD	1 Quarter
Increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$3.00M	USD	1 Quarter
Decrease in derivative assets and liabilities	`IncreaseDecreaseInCommodityContractAssetsAndLiabilities`	$-5.00M	USD	1 Quarter
Decrease in derivative assets and liabilities	`IncreaseDecreaseInCommodityContractAssetsAndLiabilities`	$-39.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$207.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$229.00M	USD	1 Quarter
Cash distributions to parent	`PaymentsOfDistributionsToAffiliates`	$30.00M	USD	1 Quarter
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$62.00M	USD	1 Quarter
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$61.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-61.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-92.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00M	USD	1 Quarter
Repayment of loan to affiliate	`RepaymentOfNotesReceivableFromRelatedParties`	$2.00M	USD	1 Quarter
Repayment of loan to affiliate	`RepaymentOfNotesReceivableFromRelatedParties`	$2.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$143.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$95.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$332.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$793.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$650.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$237.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$332.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$793.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$650.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$237.00M	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net Income	`ProfitLoss`	$69.00M	USD	1 Quarter
Unrealized holding gains arising during period, income tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$69.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$83.00M	USD	1 Quarter
Unrealized holding gains arising during period, income tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$45.00M	USD	1 Quarter
Reclassification adjustments included in net income, income tax expense	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax`	$-6.00M	USD	1 Quarter
Reclassification adjustments included in net income, income tax expense	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax`	$-21.00M	USD	1 Quarter
Unrealized holding gains arising during period, net of income tax expense of $45 and $69 for the three months ended March 31, 2010 and 2009, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$109.00M	USD	1 Quarter
Unrealized holding gains arising during period, net of income tax expense of $45 and $69 for the three months ended March 31, 2010 and 2009, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$70.00M	USD	1 Quarter
Reclassification adjustments included in net income, net of income tax expense of $6 and $21 for the three months ended March 31, 2010 and 2009, respectively	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax`	$33.00M	USD	1 Quarter
Reclassification adjustments included in net income, net of income tax expense of $6 and $21 for the three months ended March 31, 2010 and 2009, respectively	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax`	$9.00M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$61.00M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$76.00M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$159.00M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$130.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.