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Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information Operating segments are determined based on information used by the CODM in deciding how to evaluate performance and allocate resources. We have five reportable segments consisting of the Mid-Atlantic, Midwest, New York, ERCOT, and all other power regions referred to collectively as “Other Power Regions.” The basis for our reportable segments is the integrated management of our electricity business that is located in different geographic regions, and largely representative of the footprints of ISO/RTO and/or NERC regions, which utilize multiple supply sources to provide electricity through various distribution channels (wholesale and retail). Our hedging strategies and risk metrics are also aligned to these same geographic regions. Descriptions of each of our five reportable segments are as follows: •Mid-Atlantic represents operations in the eastern half of PJM, which includes New Jersey, Maryland, Virginia, West Virginia, Delaware, the District of Columbia, and parts of Pennsylvania and North Carolina. •Midwest represents operations in the western half of PJM and the United States footprint of MISO, excluding MISO’s Southern Region. •New York represents operations within NYISO. •ERCOT represents operations within Electric Reliability Council of Texas that covers a majority of the state of Texas. •Other Power Regions: •New England represents operations within ISO-NE. •South represents operations in FRCC, MISO’s Southern Region, and the remaining portions of SERC not included within MISO or PJM. •West represents operations in WECC, which includes CAISO. •Canada represents operations across the entire country of Canada and includes AESO, OIESO, and the Canadian portion of MISO. Constellation's CEO is considered the CODM and evaluates the performance of our electric business activities and allocates resources based on segment RNF, primarily through review of budget-to-actual variance analyses. RNF is Operating revenues net of Purchased power and fuel expenses. We believe this is a useful measurement of operational performance, although it is not a presentation defined under GAAP and may not be comparable to other companies’ presentations or deemed more useful than the GAAP information provided elsewhere in this report. In our evaluation of operating segments, we noted the CODM reviews a variety of performance and profitability measures at a consolidated level with a primary focus on RNF reporting at the regional level. Our operating revenues include all sales to third parties as well as government assistance. Purchased power and fuel expenses are considered the significant segment expense. Purchased power costs include all costs associated with the procurement and supply of electricity including capacity, energy, and ancillary services. Fuel expense includes the fuel costs for our owned generation and fuel costs associated with tolling agreements. The results of our other business activities are not regularly reviewed by the CODM and are therefore not classified as operating segments or included in the regional reportable segment amounts. These activities include wholesale and retail sales of natural gas, energy-related sales in the United Kingdom, as well as sales of other energy-related products and sustainable solutions that are not significant to our overall results of operations. Further, our unrealized mark-to-market gains and losses on economic hedging activities and our amortization of certain intangible assets and liabilities relating to commodity contracts recorded at fair value from mergers and acquisitions are also excluded from the regional reportable segment amounts. The CODM does not use a measure of total assets in making decisions regarding allocating resources to or assessing the performance of these reportable segments. The following tables disaggregate the revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The disaggregation of revenues reflects our power sales by geographic region. The following tables, which relate directly to our Consolidated Statements of Operations and Comprehensive Income, provide the reconciliation of operating revenues, purchased power and fuel expenses, and RNF for our reportable segments for the three months ended March 31, 2025 and 2024.
| Three Months Ended March 31, 2025
| Revenues from contracts with customers |  | Other revenues(a) |  | Total Operating revenues |  | Total Purchased power and fuel expenses |  | Total RNF
Mid-Atlantic | $ | 1,606 |  |  | $ | 59 |  |  | $ | 1,665 |  |  | $ | (856) |  |  | $ | 809 |
Midwest | 1,310 |  |  | 94 |  |  | 1,404 |  |  | (554) |  |  | 850 |
New York | 675 |  |  | (113) |  |  | 562 |  |  | (161) |  |  | 401 |
ERCOT | 301 |  |  | 97 |  |  | 398 |  |  | (184) |  |  | 214 |
Other Power Regions | 1,377 |  |  | 179 |  |  | 1,556 |  |  | (1,362) |  |  | 194 |
Total Reportable Segments | 5,269 |  |  | 316 |  |  | 5,585 |  |  | (3,117) |  |  | 2,468 |
Other(b) | 837 |  |  | 366 |  |  | 1,203 |  |  | (1,267) |  |  | (64) |
Total Consolidated Results | $ | 6,106 |  |  | $ | 682 |  |  | $ | 6,788 |  |  | $ | (4,384) |  |  | $ | 2,404 |
| Three Months Ended March 31, 2024
| Revenues from contracts with customers |  | Other revenues(a) |  | Total Operating revenues |  | Total Purchased power and fuel expenses |  | Total RNF
Mid-Atlantic | $ | 1,356 |  |  | $ | (114) |  |  | $ | 1,242 |  |  | $ | (568) |  |  | $ | 674 |
Midwest | 1,000 |  |  | 94 |  |  | 1,094 |  |  | (391) |  |  | 703 |
New York | 492 |  |  | 21 |  |  | 513 |  |  | (169) |  |  | 344 |
ERCOT | 237 |  |  | 84 |  |  | 321 |  |  | (112) |  |  | 209 |
Other Power Regions | 1,437 |  |  | 187 |  |  | 1,624 |  |  | (1,256) |  |  | 368 |
Total Reportable Segments | 4,522 |  |  | 272 |  |  | 4,794 |  |  | (2,496) |  |  | 2,298 |
Other(b) | 738 |  |  | 629 |  |  | 1,367 |  |  | (921) |  |  | 446 |
Total Consolidated Results | $ | 5,260 |  |  | $ | 901 |  |  | $ | 6,161 |  |  | $ | (3,417) |  |  | $ | 2,744 |
__________ (a)Includes revenues from nuclear PTCs as well as derivatives and leases. Intersegment activity in all periods presented is not material. (b)Represents revenue activities not allocated to a region. See text above for a description of included activities. Revenues from contracts with customers includes natural gas revenues of $711 million and $608 million and other revenues includes unrealized mark-to-market losses of $287 million and gains of $64 million, for the three months ended March 31, 2025 and 2024, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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