v3.24.3
Segment Reporting
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company’s segment structure reflects how management currently operates and allocates resources. The Company’s businesses are segregated based on conventional power generation and renewable businesses, which consist of solar, wind and battery energy storage system, or BESS, facilities. The Corporate segment reflects the Company’s corporate costs and includes eliminating entries. The Company’s chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on net income (loss).
Three months ended September 30, 2024
(In millions)Conventional GenerationRenewables
Corporate (a)
Total
Operating revenues$102 $384 $— $486 
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below41 95 (1)135 
Depreciation, amortization and accretion29 135 — 164 
General and administrative— — 9 9 
Operating income (loss)32 154 (8)178 
Equity in earnings of unconsolidated affiliates1 12 — 13 
Other income, net1 6 1 8 
Interest expense(9)(106)(24)(139)
Income (loss) before income taxes 25 66 (31)60 
Income tax expense— — 33 33 
Net Income (Loss)$25 $66 $(64)$27 
Total Assets$1,976 $12,164 $109 $14,249 
(a) Includes eliminations.
Three months ended September 30, 2023
(In millions)Conventional GenerationRenewables
Corporate (a)
Total
Operating revenues$132 $239 $— $371 
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below54 80 — 134 
Depreciation, amortization and accretion33 100 — 133 
General and administrative— — 9 9 
Transaction and integration costs— — 1 1 
Operating income (loss)45 59 (10)94 
Equity in earnings of unconsolidated affiliates— 11 — 11 
Other income, net1 8 6 15 
Interest expense(8)(16)(24)(48)
Income (loss) before income taxes 38 62 (28)72 
Income tax expense— — 57 57 
Net Income (Loss)$38 $62 $(85)$15 
(a) Includes eliminations.
Nine months ended September 30, 2024
(In millions)Conventional GenerationRenewables
Corporate (a)
Total
Operating revenues$266 $849 $— $1,115 
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below109 271 (2)378 
Depreciation, amortization and accretion88 383 — 471 
General and administrative— — 29 29 
Transaction and integration costs— — 4 4 
Operating income (loss)69 195 (31)233 
Equity in earnings of unconsolidated affiliates2 31 — 33 
Other income, net4 23 9 36 
Loss on debt extinguishment— (3)— (3)
Interest expense(25)(186)(73)(284)
Income (loss) before income taxes 50 60 (95)15 
Income tax expense— — 30 30 
Net Income (Loss)$50 $60 $(125)$(15)
(a) Includes eliminations.
Nine months ended September 30, 2023
(In millions)Conventional GenerationRenewables
Corporate (a)
Total
Operating revenues$342 $723 $— $1,065 
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below123 238 (1)360 
Depreciation, amortization and accretion98 291 — 389 
General and administrative— — 28 28 
Transaction and integration costs— — 3 3 
Operating income (loss)121 194 (30)285 
Equity in earnings of unconsolidated affiliates2 9 — 11 
Other income, net3 12 17 32 
Interest expense(27)(103)(72)(202)
Income (loss) before income taxes 99 112 (85)126 
Income tax expense— — 67 67 
Net Income (Loss)$99 $112 $(152)$59 
(a) Includes eliminations.