v3.24.3
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating Revenues        
Total operating revenues $ 486 $ 371 $ 1,115 $ 1,065
Operating Costs and Expenses        
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below 135 134 378 360
Depreciation, amortization and accretion 164 133 471 389
General and administrative 9 9 29 28
Transaction and integration costs 0 1 4 3
Total operating costs and expenses 308 277 882 780
Operating Income 178 94 233 285
Other Income (Expense)        
Equity in earnings of unconsolidated affiliates 13 11 33 11
Other income, net 8 15 36 32
Loss on debt extinguishment 0 0 (3) 0
Interest expense (139) (48) (284) (202)
Total other expense, net (118) (22) (218) (159)
Income Before Income Taxes 60 72 15 126
Income tax expense 33 57 30 67
Net Income (Loss) 27 15 (15) 59
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests (9) 11 (100) 17
Net Income Attributable to Clearway Energy, Inc. 36 4 85 42
Common Class A        
Other Income (Expense)        
Net Income Attributable to Clearway Energy, Inc. $ 11 $ 1 $ 25 $ 12
Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders        
Weighted average number of common shares outstanding - basic (in shares) 35 35 35 35
Weighted average number of common shares outstanding - diluted (in shares) 35 35 35 35
Earnings per weighted average common share — basic (in dollars per share) $ 0.31 $ 0.03 $ 0.72 $ 0.36
Earnings per weighted average common share — diluted (in dollars per share) 0.31 0.03 0.72 0.36
Dividends per common share (in usd per share) $ 0.4171 $ 0.3891 $ 1.2306 $ 1.1454
Common Class C        
Other Income (Expense)        
Net Income Attributable to Clearway Energy, Inc. $ 25 $ 3 $ 60 $ 30
Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders        
Weighted average number of common shares outstanding - basic (in shares) 83 82 83 82
Weighted average number of common shares outstanding - diluted (in shares) 83 82 83 82
Earnings per weighted average common share — basic (in dollars per share) $ 0.31 $ 0.03 $ 0.72 $ 0.36
Earnings per weighted average common share — diluted (in dollars per share) 0.31 0.03 0.72 0.36
Dividends per common share (in usd per share) $ 0.4171 $ 0.3891 $ 1.2306 $ 1.1454