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Supplementary Financial Information (Tables)

12 Months Ended

Dec. 31, 2023

Supplementary Financial Information [Abstract]

Schedule of Interest Expense and Related Charges

			Year Ended December 31,
			2023						2022						2021
Interest expense			$	654					$	591					$	480
Unrealized mark-to-market net (gains) losses on interest rate swaps			36						(250)						(134)
Amortization of debt issuance costs, discounts and premiums			26						28						30
Facility Fee expense			8						—						—
Debt extinguishment (gain) loss			(3)						(1)						1
Capitalized interest			(37)						(29)						(26)
Other (a)			56						29						33
Total interest expense and related charges			$	740					$	368					$	384

(a)For the year ended December 31, 2023, includes $21 million of fees related to the Commitment Letter (see Note 2).

Schedule of Other Nonoperating Income (Expense)

			Year Ended December 31,
			2023						2022						2021
Other income:
Insurance settlements (a)			$	24					$	70					$	88
Gain on sale of land (b)			95						8						9
Gain on TRA settlement (c)			29						—						—
Gain on settlement of rail transportation disputes (d)			—						—						15
Interest income			86						19						—
All other			23						20						28
Total other income			$	257					$	117					$	140
Other deductions:
All other			$	14					$	4					$	16
Total other deductions			$	14					$	4					$	16

____________

(a)For the year ended December 31, 2023, $19 million reported in the West segment and $5 million in the Asset Closure segment. For the year ended December 31, 2022, $62 million reported in the Texas segment, $6 million reported in the West segment, $1 million reported in the Asset Closure segment and $1 million reported in the Corporate and Other non-segment. For the year ended December 31, 2021, $80 million reported in the Texas segment, $7 million reported in the Sunset segment and $1 million reported in Corporate and Other.

(b)For the year ended December 31, 2023, $94 million reported in the Asset Closure segment and $1 million reported in the Texas segment. For the years ended December 31, 2022 and 2021, reported in the Asset Closure segment.

(c)Reported in the Corporate and Other.

(d)Reported in the Asset Closure segment.

Schedule of Restricted Cash

			December 31, 2023												December 31, 2022
			Current Assets						Noncurrent Assets						Current Assets						Noncurrent Assets
Amounts related to remediation escrow accounts			$	40					$	14					$	37					$	33
Total restricted cash			$	40					$	14					$	37					$	33

The following table reconciles cash, cash equivalents and restricted cash reported in our consolidated statements of cash flows to the amounts reported in our consolidated balance sheets at December 31, 2023 and 2022:

			December 31,
			2023						2022
Cash and cash equivalents			$	3,485					$	455
Restricted cash included in current assets			40						37
Restricted cash included in noncurrent assets			14						33
Total cash, cash equivalents and restricted cash			$	3,539					$	525

Schedule of Accounts, Notes, Loans and Financing Receivable

			December 31,
			2023						2022
Wholesale and retail trade accounts receivable			$	1,735					$	2,124
Allowance for uncollectible accounts			(61)						(65)
Trade accounts receivable — net			$	1,674					$	2,059

			Year Ended December 31,
			2023						2022						2021
Allowance for uncollectible accounts receivable at beginning of period			$	65					$	45					$	45
Increase for bad debt expense			164						179						110
Decrease for account write-offs			(168)						(159)						(110)
Allowance for uncollectible accounts receivable at end of period			$	61					$	65					$	45

Schedule of Inventory, Current

			December 31,
			2023						2022
Materials and supplies			$	289					$	274
Fuel stock			420						252
Natural gas in storage			31						44
Total inventories			$	740					$	570

Summary of Other Investments

			December 31,
			2023						2022
Nuclear decommissioning trust			$	1,951					$	1,648
Assets related to employee benefit plans			28						30
Land investments			42						41
Miscellaneous other			14						10
Total investments			$	2,035					$	1,729

Summary of Fair Market Value of Investments in the Fund

A summary of the fair market value of investments in the fund follows:

																					Year Ended December 31,
																					2023						2022
Debt securities (a)																					$	734					$	658
Equity securities (b)																					1,217						990
Total																					$	1,951					$	1,648

____________

(a)The investment objective for debt securities is to invest in a diversified tax efficient portfolio with an overall portfolio rating of AA or above as graded by S&P or Aa2 by Moody's. The debt securities are heavily weighted with government and municipal bonds and investment grade corporate bonds. The debt securities had an average coupon rate of 3.19% and 2.64% as of December 31, 2023 and 2022, respectively, and an average maturity of 11 years as of both December 31, 2023 and 2022.

(b)The investment objective for equity securities is to invest tax efficiently and to match the performance of the S&P 500 Index for U.S. equity investments and the MSCI EAFE Index for non-U.S. equity investments.

Schedule of Realized Gain (Loss)

The following table summarizes proceeds from sales of securities and investments in new securities.

			Year Ended December 31,
			2023						2022						2021
Proceeds from sales of securities			$	601					$	670					$	483
Investments in securities			$	(624)					$	(693)					$	(505)

Schedule of Property, Plant and Equipment

Schedule of Asset Retirement Obligations

The following table summarizes the changes to these obligations, reported as AROs (current and noncurrent liabilities) in our consolidated balance sheets, for the years ended December 31, 2023, 2022 and 2021:

			Nuclear Plant Decommissioning												Land Reclamation, Coal Ash and Other						Total
Liability at December 31, 2020			$	1,585											$	851					$	2,436
Additions:
Accretion			50												38						88
Adjustment for change in estimates (a)			—												14						14
Reductions:
Payments			—												(88)						(88)
Liability at December 31, 2021			1,635												815						2,450
Additions:
Accretion			53												34						87
Adjustment for change in estimates (a)			—												49						49
Reductions:
Payments			—												(88)						(88)
Liability transfers (b)			—												(61)						(61)
Liability at December 31, 2022			1,688												749						2,437
Additions:
Accretion			54												34						88
Adjustment for change in estimates (a)			—												94						94
Reductions:
Payments			—												(81)						(81)
Liability at December 31, 2023			1,742												796						2,538
Less amounts due currently			—												(124)						(124)
Noncurrent liability at December 31, 2023			$	1,742											$	672					$	2,414

____________

(a)Includes non-cash additions to asset retirement costs included in property, plant and equipment of $67 million, $19 million and $19 million for the years ended December 31, 2023, 2022 and 2021, respectively.

(b)Represents ARO transferred to a third-party for remediation. Any remaining unpaid third-party obligation has been reclassified to other current liabilities and other noncurrent liabilities and deferred credits in our consolidated balance sheets.

Schedule of Other Noncurrent Liabilities and Deferred Credits

The balance of other noncurrent liabilities and deferred credits consists of the following:

			December 31,
			2023						2022
Retirement and other employee benefits (Note 18)			$	247					$	237
Winter Storm Uri impact (a)			26						35
Identifiable intangible liabilities (Note 6)			131						140
Regulatory liability (b)			209						—
Finance lease liabilities			227						237
Uncertain tax positions, including accrued interest			—						13
Liability for third-party remediation			17						37
Accrued severance costs			36						36
Other accrued expenses			58						269
Total other noncurrent liabilities and deferred credits			$	951					$	1,004

____________

(a)Includes future bill credits related to large commercial and industrial customers that curtailed during Winter Storm Uri.

(b)As of December 31, 2023, the fair value of the assets contained in the nuclear decommissioning trust was higher than the carrying value of our ARO related to our nuclear generation plant decommissioning and recorded as a regulatory liability of $209 million in other noncurrent liabilities and deferred credits. As of December 31, 2022, the carrying value of our ARO related to our nuclear generation plant decommissioning was higher than fair value of the assets contained in the nuclear decommissioning trust and recorded as a regulatory asset of $40 million in other noncurrent assets.

Schedule of Fair Value of Debt

												December 31, 2023												December 31, 2022
Long-term debt (see Note 12):						Fair Value Hierarchy						Carrying Amount						Fair Value						Carrying Amount						Fair Value
Long-term debt under the Vistra Operations Credit Facilities						Level 2						$	2,456					$	2,500					$	2,519					$	2,486
Vistra Operations Senior Notes						Level 2						11,881						11,752						9,378						8,830
Equipment Financing Agreements						Level 3						65						62						74						72

Schedule of Cash Flow, Supplemental Disclosures

The following table summarizes our supplemental cash flow information for the years ended December 31, 2023, 2022 and 2021, respectively.

			Year Ended December 31,
			2023						2022						2021
Cash payments related to:
Interest paid			$	636					$	581					$	482
Capitalized interest			(37)						(29)						(26)
Interest paid (net of capitalized interest)			$	599					$	552					$	456
Non-cash investing and financing activities:
Accrued property, plant and equipment additions (a)			$	104					$	103					$	171
Book value of nuclear fuel sold			$	26					$	—					$	—

____________

(a)Represents property, plant and equipment accruals during the period for which cash has not been paid as of the end of the period.

Schedule of Cash and Cash Equivalents

The following table reconciles cash, cash equivalents and restricted cash reported in our consolidated statements of cash flows to the amounts reported in our consolidated balance sheets at December 31, 2023 and 2022:

			December 31,
			2023						2022
Cash and cash equivalents			$	3,485					$	455
Restricted cash included in current assets			40						37
Restricted cash included in noncurrent assets			14						33
Total cash, cash equivalents and restricted cash			$	3,539					$	525

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