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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows — operating activities:      
Net income (loss) $ 1,492 $ (1,210) $ (1,264)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:      
Depreciation and amortization 1,956 2,047 2,050
Deferred income tax expense (benefit), net 457 (359) (475)
Gain on sale of land (95) (8) (9)
Impairment of long-lived and other assets 49 74 71
Unrealized net (gain) loss from mark-to-market valuations of commodities (490) 2,510 759
Unrealized net (gain) loss from mark-to-market valuations of interest rate swaps 36 (250) (134)
Change in asset retirement obligation liability 27 13 (5)
Asset retirement obligation accretion expense 34 34 38
Impacts of Tax Receivable Agreement 164 128 (53)
Gain on TRA settlement (29) 0 0
Bad debt expense 164 179 110
Stock-based compensation 77 63 47
Other, net 103 (71) 50
Changes in operating assets and liabilities:      
Accounts receivable — trade 214 (852) (228)
Inventories (174) 36 (100)
Accounts payable — trade (350) 94 402
Commodity and other derivative contractual assets and liabilities 82 (228) 32
Margin deposits, net 1,899 (1,874) (1,000)
Uplift securitization proceeds receivable from ERCOT 0 544 (544)
Accrued interest 46 16 13
Accrued taxes 5 (8) (20)
Accrued employee incentive 58 21 (68)
Tax Receivable Agreement payment (9) (1) (2)
Asset retirement obligation settlement (81) (87) (88)
Major plant outage deferral (32) 20 2
Other — net assets 84 (17) (27)
Other — net liabilities (243) (330) 235
Cash provided by (used in) operating activities 5,453 485 (206)
Cash flows — investing activities:      
Capital expenditures, including nuclear fuel purchases and LTSA prepayments (1,676) (1,301) (1,033)
Proceeds from sales of nuclear decommissioning trust fund securities 601 670 483
Investments in nuclear decommissioning trust fund securities (624) (693) (505)
Proceeds from sales of environmental allowances 500 1,275 392
Purchases of environmental allowances (1,071) (1,303) (605)
Insurance proceeds 15 39 89
Proceeds from sales of property, plant and equipment 115 78 30
Other, net (5) (4) (4)
Cash used in investing activities (2,145) (1,239) (1,153)
Cash flows — financing activities:      
Issuances of preferred stock 0 0 2,000
Issuances of long-term debt 2,498 1,498 1,250
Repayments/repurchases of debt (33) (251) (381)
Borrowings under Term Loan A 0 0 1,250
Repayment under Term Loan A 0 0 (1,250)
Proceeds from forward capacity agreement 0 0 500
Net borrowings/(repayments) under accounts receivable financing (425) 425 (300)
Borrowings under Revolving Credit Facility 100 1,750 1,450
Repayments under Revolving Credit Facility (350) (1,500) (1,450)
Borrowings under Commodity-Linked Facility 0 3,150 0
Repayments under Commodity-Linked Facility (400) (2,750) 0
Debt issuance costs (59) (31) (13)
Stock repurchases (1,245) (1,949) (471)
Dividends paid to common stockholders (313) (302) (290)
Dividends paid to preferred stockholders (150) (151) 0
Other, net 83 31 (21)
Cash provided by (used in) financing activities (294) (80) 2,274
Net change in cash, cash equivalents and restricted cash 3,014 (834) 915
Cash, cash equivalents and restricted cash — beginning balance 525 1,359 444
Cash, cash equivalents and restricted cash — ending balance $ 3,539 $ 525 $ 1,359