Vistra Corp. (VST) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	S-1/A	S-1/A
Revenues:
Texas Segment	6,110	4,116	3,836	2,497
West Segment	374	282	338	208
East Segment	2,587	2,415	2,790	1,895
Sunset Segment	1,902	1,252	1,602	1,220
Other	6,727	2,785	2,981	3,977
Total revenues	17,700	10,850	11,547	9,797	5,430	5,370	5,978
Revenue growth [+]	63.1%	-6.0%	17.9%	80.4%		-10.2%
Texas Segment	48.4%	7.3%	53.6%
West Segment	32.6%	-16.6%	62.5%
East Segment	7.1%	-13.4%	47.2%
Sunset Segment	51.9%	-21.8%	31.3%
Asset Closure Segment		-99.1%	-8.1%	-61.5%
Cost of goods sold	-1,559	-1,622	-1,530	-1,297	-973	-834	-914
Gross profit	19,259	12,472	13,077	11,094	6,403	6,204	6,892
Gross margin	108.8%	114.9%	113.3%	113.2%	117.9%	115.5%	115.3%
Selling, general and administrative	1,040	1,035	904	926	600	676	708
Equity in earnings		4	16	17
Other operating expenses	18,052	8,537	8,540	8,283	4,906	852	1,270
EBITDA [+]	464	3,215	3,885	2,041	1,033
EBITDA growth	-85.6%	-17.2%	90.3%	97.6%		-10.6%
EBITDA margin	2.6%	29.6%	33.6%	20.8%	19.0%	102.9%	103.4%
Depreciation and amortization	2,050	2,048	1,876	1,533	835
EBIT [+]	-1,586	1,167	2,009	508	198	5,528	6,184
EBIT growth	-235.9%	-41.9%	295.5%	156.6%		-10.6%
EBIT margin	-9.0%	10.8%	17.4%	5.2%	3.6%	102.9%	103.4%
Non-recurring items [+]	-71	-356				2,642	5,190
Asset impairment	-71	-356				2,541	4,670
Interest expense, net [+]	384	628	787	554	178
Interest expense	384	630	797	572	193
Interest income		2	10	18	15
Other income (expense), net [+]	177	-5	-6	-55	230	-8,442	-9,543
Other non-operating income	140	34	56	47	37
Other non-ooperating expenses	-16	-42	-15	-5	-5
Other	140	34	56	47	37	17	16
Pre-tax income	-1,722	890	1,216	-101	250	-5,556	-8,549
Income taxes	-458	266	290	-45	504	-879	-2,320
Tax rate	26.6%	29.9%	23.8%	44.6%	201.6%	15.8%	27.1%
Minority interest	10	-12	-2	-2
Net income	-1,274	636	928	-54	-254	0	0
Net margin	-7.2%	5.9%	8.0%	-0.6%	-4.7%	0.0%	0.0%

Basic EPS [+]	($2.64)	$1.30	$1.88	($0.11)	($0.59)
Growth	-303.0%	-30.7%	-1856.1%	-82.0%
Diluted EPS [+]	($2.64)	$1.30	$1.86	($0.11)	($0.59)
Growth	-304.0%	-30.2%	-1835.8%	-82.0%

Dividends per share [+]	$0.60	$0.54	$0.49
Growth	10.5%	10.7%

Shares outstanding (basic) [+]	482	489	494	505	428
Growth	-1.3%	-1.1%	-2.1%	18.0%
Shares outstanding (diluted) [+]	482	491	500	505	428
Growth	-1.8%	-1.8%	-1.0%	18.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.