10-Q Filing

MIDWEST GENERATION LLC CIK: 1134016 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001047469-11-004339`
Period End Date	20110331
Filing Date	20110502
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	mwg-20110331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 26 Cash Flow Statement 48 Comprehensive Income 15

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.58B	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.54B	USD	Point-in-time
Membership interests, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Membership interests, no 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
Membership interests, units outstanding	`CommonStockSharesOutstanding`	100.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$363.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$237.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$332.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$295.00M	USD	Point-in-time
Membership interests, units outstanding	`CommonStockSharesOutstanding`	100.00	shares	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$115.00M	USD	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$124.00M	USD	Point-in-time
Fuel inventory	`EnergyRelatedInventory`	$99.00M	USD	Point-in-time
Fuel inventory	`EnergyRelatedInventory`	$85.00M	USD	Point-in-time
Spare parts inventory	`OtherInventorySupplies`	$38.00M	USD	Point-in-time
Spare parts inventory	`OtherInventorySupplies`	$39.00M	USD	Point-in-time
Interest receivable from affiliate	`InterestReceivableFromAffiliate`	$27.00M	USD	Point-in-time
Interest receivable from affiliate	`InterestReceivableFromAffiliate`	$56.00M	USD	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$32.00M	USD	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$47.00M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$2.00M	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$2.00M	USD	Point-in-time
Other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$19.00M	USD	Point-in-time
Other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$33.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$680.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$696.00M	USD	Point-in-time
Property, plant and equipment, less accumulated depreciation of $1,580 and $1,541 at respective dates	`PropertyPlantAndEquipmentNet`	$2.90B	USD	Point-in-time
Property, plant and equipment, less accumulated depreciation of $1,580 and $1,541 at respective dates	`PropertyPlantAndEquipmentNet`	$2.90B	USD	Point-in-time
Notes receivable from affiliate	`DueFromRelatedPartiesNoncurrent`	$1.33B	USD	Point-in-time
Notes receivable from affiliate	`DueFromRelatedPartiesNoncurrent`	$1.34B	USD	Point-in-time
Long-term derivative assets	`DerivativeAssetsNoncurrent`	$3.00M	USD	Point-in-time
Long-term derivative assets	`DerivativeAssetsNoncurrent`	$8.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.00M	USD	Point-in-time
Total Assets	`Assets`	$4.94B	USD	Point-in-time
Total Assets	`Assets`	$4.94B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$54.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$43.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$54.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$60.00M	USD	Point-in-time
Due to affiliates	`DueToAffiliateCurrent`	$43.00M	USD	Point-in-time
Due to affiliates	`DueToAffiliateCurrent`	$16.00M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$22.00M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$10.00M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$4.00M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$3.00M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$10.00M	USD	Point-in-time
Current portion of lease financing	`CapitalLeaseObligationsCurrent`	$109.00M	USD	Point-in-time
Current portion of lease financing	`CapitalLeaseObligationsCurrent`	$113.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$278.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$263.00M	USD	Point-in-time
Lease financing, net of current portion	`CapitalLeaseObligationsNoncurrent`	$499.00M	USD	Point-in-time
Lease financing, net of current portion	`CapitalLeaseObligationsNoncurrent`	$556.00M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$129.00M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$146.00M	USD	Point-in-time
Long-term derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$1.00M	USD	Point-in-time
Long-term derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Benefit plans and other long-term liabilities	`OtherLiabilitiesNoncurrent`	$214.00M	USD	Point-in-time
Benefit plans and other long-term liabilities	`OtherLiabilitiesNoncurrent`	$222.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.16B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.15B	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`	$293.00M	USD	Point-in-time
Accumulated earnings	`RetainedEarningsAccumulatedDeficit`	$270.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.00M	USD	Point-in-time
Total Member's Equity	`StockholdersEquity`	$3.80B	USD	Point-in-time
Total Member's Equity	`StockholdersEquity`	$3.78B	USD	Point-in-time
Total Liabilities and Member's Equity	`LiabilitiesAndStockholdersEquity`	$4.94B	USD	Point-in-time
Total Liabilities and Member's Equity	`LiabilitiesAndStockholdersEquity`	$4.94B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Operating Revenues from Marketing Affiliate	`ElectricalGenerationRevenue`	$379.00M	USD	1 Quarter
Operating Revenues from Marketing Affiliate	`ElectricalGenerationRevenue`	$351.00M	USD	1 Quarter
Fuel	`FuelCosts`	$126.00M	USD	1 Quarter
Fuel	`FuelCosts`	$141.00M	USD	1 Quarter
Plant operations	`OtherCostAndExpenseOperating`	$118.00M	USD	1 Quarter
Plant operations	`OtherCostAndExpenseOperating`	$99.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$39.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$38.00M	USD	1 Quarter
Administrative and general	`GeneralAndAdministrativeExpense`	$5.00M	USD	1 Quarter
Administrative and general	`GeneralAndAdministrativeExpense`	$6.00M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$289.00M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$283.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$96.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$62.00M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$27.00M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$29.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$11.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$12.00M	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$18.00M	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$15.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$80.00M	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`	$32.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$69.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$48.00M	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$69.00M	USD	1 Quarter
Net income	`ProfitLoss`	$48.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationCashFlowImpact`	$39.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationCashFlowImpact`	$38.00M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxesAndTaxCredits`	$8.00M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxesAndTaxCredits`	$7.00M	USD	1 Quarter
Decrease in due to/from affiliates	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-36.00M	USD	1 Quarter
Decrease in due to/from affiliates	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-68.00M	USD	1 Quarter
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$15.00M	USD	1 Quarter
(Increase) decrease 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`	$-29.00M	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-14.00M	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.00M	USD	1 Quarter
Decrease in intangible assets	`IncreaseDecreaseInIntangibleAssets`	$-2.00M	USD	1 Quarter
Decrease in intangible assets	`IncreaseDecreaseInIntangibleAssets`	$-1.00M	USD	1 Quarter
Increase (decrease) in accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherCurrentLiabilities`	$5.00M	USD	1 Quarter
Increase (decrease) in accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherCurrentLiabilities`	$-11.00M	USD	1 Quarter
Decrease in interest payable	`IncreaseDecreaseInInterestPayableNet`	$-12.00M	USD	1 Quarter
Decrease in interest payable	`IncreaseDecreaseInInterestPayableNet`	$-15.00M	USD	1 Quarter
Increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$8.00M	USD	1 Quarter
Increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$6.00M	USD	1 Quarter
Decrease in derivative assets and liabilities	`IncreaseDecreaseInCommodityContractAssetsAndLiabilities`	$-1.00M	USD	1 Quarter
Decrease in derivative assets and liabilities	`IncreaseDecreaseInCommodityContractAssetsAndLiabilities`	$-5.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$163.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$207.00M	USD	1 Quarter
Cash distributions to parent	`PaymentsOfDistributionsToAffiliates`	$25.00M	USD	1 Quarter
Cash distributions to parent	`PaymentsOfDistributionsToAffiliates`	$30.00M	USD	1 Quarter
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$53.00M	USD	1 Quarter
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$62.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-92.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-78.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00M	USD	1 Quarter
Repayment of loan to affiliate	`RepaymentOfNotesReceivableFromRelatedParties`	$14.00M	USD	1 Quarter
Repayment of loan to affiliate	`RepaymentOfNotesReceivableFromRelatedParties`	$2.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$95.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$68.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$363.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$237.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$332.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$295.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$363.00M	USD	Point-in-time
Cash and cash equivalents at end 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`	$295.00M	USD	Point-in-time

Comprehensive Income 15 line items

Line Item	Tag	Value	Unit	Period
Unrealized holding gains arising during period, income tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$1.00M	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 benefit	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax`	$-4.00M	USD	1 Quarter
Reclassification adjustments included in net income, income tax benefit	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax`	$-6.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$69.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$48.00M	USD	1 Quarter
Amortization of net loss and prior service adjustment included in expenses, net of tax	`OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax`	$1.00M	USD	1 Quarter
Unrealized holding gains arising during period, net of income tax expense of $1 and $45 for the three months ended March 31, 2011 and 2010, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$1.00M	USD	1 Quarter
Unrealized holding gains arising during period, net of income tax expense of $1 and $45 for the three months ended March 31, 2011 and 2010, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$70.00M	USD	1 Quarter
Reclassification adjustments included in net income, net of income tax benefit of $4 and $6 for the three months ended March 31, 2011 and 2010, respectively	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax`	$9.00M	USD	1 Quarter
Reclassification adjustments included in net income, net of income tax benefit of $4 and $6 for the three months ended March 31, 2011 and 2010, respectively	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax`	$7.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$61.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$-5.00M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$130.00M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$43.00M	USD	1 Quarter

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