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Revenue Recognition
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Performance Obligations
As of March 31, 2022, estimated future fixed fee performance obligations are $151 million for the remaining nine months of fiscal year 2022, and $52 million and $1 million for the fiscal years 2023 and 2024, respectively. These performance obligations are for cleared auction MWs in the PJM, ISO-NE, NYISO and MISO capacity auctions and are subject to penalties for non-performance.
Disaggregated Revenues
The following tables represent the Company’s disaggregation of revenue from contracts with customers for the three months ended March 31, 2022 and 2021:
Three months ended March 31, 2022
(In millions)
TexasEastWest/Services/OtherCorporate/EliminationsTotal
Retail revenue:
Home(a)
$1,289 $675 $697 $— $2,661 
Business663 3,846 400 — 4,909 
Total retail revenue1,952 4,521 1,097 — 7,570 
Energy revenue(b)
15 204 54 5 278 
Capacity revenue(b)
— 115 1 — 116 
Mark-to-market for economic hedging activities(c)
(2)(130)(18)17 (133)
Contract amortization— (9)— — (9)
Other revenue(b)
58 17 4 (5)74 
Total revenue2,023 4,718 1,138 17 7,896 
Less: Revenues accounted for under topics other than 606 and 815— (9)11 — 2 
Less: Realized and unrealized ASC 815 revenue
(7)(66)(42)20 (95)
Total revenue from contracts with customers$2,030 $4,793 $1,169 $(3)$7,989 
(a) Home includes Services
(b) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)
TexasEastWest/Services/OtherCorporate/EliminationsTotal
Energy revenue$— $45 $(20)$4 $29 
Capacity revenue— 13 — — 13 
Other revenue(5)6 (4)(1)(4)
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
Three months ended March 31, 2021
(In millions)
TexasEastWest/Services/OtherCorporate/EliminationsTotal
Retail revenue:
Home(a)
$1,333 $584 $554 $— $2,471 
Business781 2,629 281 — 3,691 
Total retail revenue2,114 3,213 835 — 6,162 
Energy revenue(c)
285 126 70 1 482 
Capacity revenue(c)
— 141 14 — 155 
Mark-to-market for economic hedging activities(d)
(1)(4)(28)1 (32)
Other revenue(b)(c)
1,304 19 4 (3)1,324 
Total revenue3,702 3,495 895 (1)8,091 
Less: Revenues accounted for under topics other than 606 and 815— — 2 — 2 
Less: Realized and unrealized ASC 815 revenue
93 99 (34)2 160 
Total revenue from contracts with customers$3,609 $3,396 $927 $(3)$7,929 
(a) Home includes Services
(b) Other Revenue in Texas includes ancillary revenues of $1.2 billion driven by high pricing during Winter Storm Uri
(c) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)
TexasEastWest/Services/OtherCorporate/EliminationsTotal
Energy revenue$— $60 $(4)$2 $58 
Capacity revenue— 37 — — 37 
Other revenue94 6 (2)(1)97 
(d) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
Contract Balances
The following table reflects the contract assets and liabilities included in the Company’s balance sheet as of March 31, 2022 and December 31, 2021:
(In millions)
March 31, 2022December 31, 2021
Deferred customer acquisition costs$111 $133 
Accounts receivable, net - Contracts with customers3,091 3,057 
Accounts receivable, net - Derivative instruments197 182 
Accounts receivable, net - Affiliate3 6 
Total accounts receivable, net $3,291 $3,245 
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)$1,237 $1,574 
Deferred revenues(a)
177 227 
(a) Deferred revenues from contracts with customers for the three months ended March 31, 2022 and the year ended December 31, 2021 were approximately $169 million and $224 million, respectively
The revenue recognized from contracts with customers during the three months ended March 31, 2022 and 2021 relating to the deferred revenue balance at the beginning of each period was $117 million and $23 million, respectively. The change in deferred revenue balances during the three months ended March 31, 2022 and 2021 was primarily due to the usage of customer bill credits by certain C&I customers, which were as a result of power pricing during Winter Storm Uri and a significant increase in customer count as a result of the Direct Energy acquisition.