v3.24.1.u1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue from Contracts with Customer
Disaggregated Revenues
The following tables represent the Company’s disaggregation of revenue from contracts with customers for the three months ended March 31, 2024 and 2023:
Three months ended March 31, 2024
(In millions)
TexasEastWest/Services/OtherVivint Smart HomeCorporate/EliminationsTotal
Retail revenue:
Home(a)
$1,360 $702 $599 $468 $— $3,129 
Business818 2,726 556 — — 4,100 
Total retail revenue(b)
2,178 3,428 1,155 468 — 7,229 
Energy revenue(b)
7 81 67 — (3)152 
Capacity revenue(b)
— 41 2 — (1)42 
Mark-to-market for economic hedging activities(c)
— (51)(9)— — (60)
Contract amortization— (10)— — — (10)
Other revenue(b)
48 26 4 — (2)76 
Total revenue2,233 3,515 1,219 468 (6)7,429 
Less: Revenues accounted for under topics other than ASC 606 and ASC 815— 10 6 — — 16 
Less: Realized and unrealized ASC 815 revenue
2 24 10 — (3)33 
Total revenue from contracts with customers$2,231 $3,481 $1,203 $468 $(3)$7,380 
(a) Home includes Services
(b) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)
TexasEastWest/Services/OtherVivint Smart HomeCorporate/EliminationsTotal
Retail revenue$— $10 $— $— $— $10 
Energy revenue— 43 22 — (3)62 
Capacity revenue— 22 — — — 22 
Other revenue2 — (3)— — (1)
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
Three months ended March 31, 2023
(In millions)
TexasEastWest/Services/Other
Vivint Smart Home(a)
Corporate/EliminationsTotal
Retail revenue:
Home(b)
$1,236 $651 $625 $148 $— $2,660 
Business722 3,365 616 — — 4,703 
Total retail revenue(c)
1,958 4,016 1,241 148 — 7,363 
Energy revenue(c)
4 74 48 — 2 128 
Capacity revenue(c)
— 41 1 — — 42 
Mark-to-market for economic hedging activities(d)
— 35 67 — (11)91 
Contract amortization— (11)— — — (11)
Other revenue(c)
72 21 17 — (1)109 
Total revenue2,034 4,176 1,374 148 (10)7,722 
Less: Revenues accounted for under topics other than ASC 606 and ASC 815— (1)9 — — 8 
Less: Realized and unrealized ASC 815 revenue
(2)113 97 — (9)199 
Total revenue from contracts with customers$2,036 $4,064 $1,268 $148 $(1)$7,515 
(a) Includes results of operations following the acquisition date of March 10, 2023
(b) Home includes Services
(c) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)
TexasEastWest/Services/OtherVivint Smart HomeCorporate/EliminationsTotal
Retail revenue$— $27 $— $— $— $27 
Energy revenue— 47 17 — 2 66 
Capacity revenue— 6 — — — 6 
Other revenue(2)(2)13 — — 9 
(d) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
Contract Asset and Liabilities
The following table reflects the contract assets and liabilities included in the Company’s balance sheet as of March 31, 2024 and December 31, 2023:
(In millions)
March 31, 2024December 31, 2023
Capitalized contract costs (included in Prepayments and other current assets and Other non-current assets)
$807 $706 
Accounts receivable, net - Contracts with customers3,207 3,395 
Accounts receivable, net - Accounted for under topics other than ASC 606104 136 
Accounts receivable, net - Affiliate14 11 
Total accounts receivable, net $3,325 $3,542 
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)$1,293 $1,493 
Deferred revenues(a)
1,569 1,634 
(a)Deferred revenues from contracts with customers as of March 31, 2024 and December 31, 2023 were approximately $1.5 billion and $1.6 billion, respectively.