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Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue from Contracts with Customer

Disaggregated Revenues

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the three and six months ended June 30, 2023 and 2022:

			Three months ended June 30, 2023
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue:
Home(a)			$	1,563					$	446					$	406					$	444					$	—					$	2,859
Business			832						1,912						424						—						—						3,168
Total retail revenue(b)			2,395						2,358						830						444						—						6,027
Energy revenue(b)			16						28						40						—						(1)						83
Capacity revenue(b)			—						49						—						—						—						49
Mark-to-market for economic hedging activities(c)			—						52						23						—						—						75
Contract amortization			—						(7)						(1)						—						—						(8)
Other revenue(b)			104						23						—						—						(5)						122
Total revenue			2,515						2,503						892						444						(6)						6,348
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						6						7						—						—						13
Less: Realized and unrealized ASC 815 revenue			14						99						7						—						(1)						119
Total revenue from contracts with customers			$	2,501					$	2,398					$	878					$	444					$	(5)					$	6,216
(a) Home includes Services and Vivint Smart Home
(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)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue			$	—					$	16					$	—					$	—					$	—					$	16
Energy revenue			—						13						(7)						—						(1)						5
Capacity revenue			—						17						—						—						—						17
Other revenue			14						1						(9)						—						—						6
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Three months ended June 30, 2022
(In millions)			Texas						East						West/Services/Other						Corporate/Eliminations						Total
Retail revenue:
Home(a)			$	1,655					$	417					$	543					$	(1)					$	2,614
Business			910						2,983						444						—						4,337
Total retail revenue			2,565						3,400						987						(1)						6,951
Energy revenue(b)			38						128						131						9						306
Capacity revenue(b)			—						89						1						—						90
Mark-to-market for economic hedging activities(c)			(1)						(106)						(38)						(3)						(148)
Contract amortization			—						(11)						(2)						—						(13)
Other revenue(b)			90						14						(3)						(5)						96
Total revenue			2,692						3,514						1,076						—						7,282
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						(4)						8						—						4
Less: Realized and unrealized ASC 815 revenue			(13)						(123)						(70)						7						(199)
Total revenue from contracts with customers			$	2,705					$	3,641					$	1,138					$	(7)					$	7,477
(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)			Texas						East						West/Services/Other						Corporate/Eliminations						Total
Energy revenue			$	—					$	(19)					$	(20)					$	9					$	(30)
Capacity revenue			—						9						—						—						9
Other revenue			(12)						(7)						(12)						1						(30)
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Six months ended June 30, 2023
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home(a)						Corporate/Eliminations						Total
Retail revenue:
Home(b)			$	2,799					$	1,097					$	1,031					$	592					$	—					$	5,519
Business			1,554						5,277						1,040						—						—						7,871
Total retail revenue(c)			4,353						6,374						2,071						592						—						13,390
Energy revenue(c)			20						102						88						—						1						211
Capacity revenue(c)			—						90						1						—						—						91
Mark-to-market for economic hedging activities(d)			—						87						90						—						(11)						166
Contract amortization			—						(18)						(1)						—						—						(19)
Other revenue(c)			176						44						17						—						(6)						231
Total revenue			4,549						6,679						2,266						592						(16)						14,070
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						5						16						—						—						21
Less: Realized and unrealized ASC 815 revenue			12						212						104						—						(10)						318
Total revenue from contracts with customers			$	4,537					$	6,462					$	2,146					$	592					$	(6)					$	13,731
(a) Includes results of operations following the acquisition date of March 10, 2023
(b) Home includes Services and Vivint Smart Home
(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)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue			$	—					$	43					$	—					$	—					$	—					$	43
Energy revenue			—						60						10						—						1						71
Capacity revenue			—						23						—						—						—						23
Other revenue			12						(1)						4						—						—						15
(d) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Six months ended June 30, 2022
(In millions)			Texas						East						West/Services/Other						Corporate/Eliminations						Total
Retail revenue:
Home(a)			$	2,938					$	996					$	1,246					$	(1)					$	5,179
Business			1,573						6,925						844						—						9,342
Total retail revenue			4,511						7,921						2,090						(1)						14,521
Energy revenue(b)			53						332						185						14						584
Capacity revenue(b)			—						204						2						—						206
Mark-to-market for economic hedging activities(c)			(3)						(236)						(56)						14						(281)
Contract amortization			—						(20)						(2)						—						(22)
Other revenue(b)			151						28						1						(10)						170
Total revenue			4,712						8,229						2,220						17						15,178
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						(13)						19						—						6
Less: Realized and unrealized ASC 815 revenue			(20)						(189)						(112)						27						(294)
Total revenue from contracts with customers			$	4,732					$	8,431					$	2,313					$	(10)					$	15,466
(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)			Texas						East						West/Services/Other						Corporate/Eliminations						Total
Energy revenue			$	—					$	26					$	(40)					$	13					$	(1)
Capacity revenue			—						22						—						—						22
Other revenue			(17)						(1)						(16)						—						(34)
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

Contract Asset and Liabilities

The following table reflects the contract assets and liabilities included in the Company’s balance sheet as of June 30, 2023 and December 31, 2022:

(In millions)			June 30, 2023						December 31, 2022
Deferred customer acquisition costs			$	422					$	126
Accounts receivable, net - Contracts with customers			3,049						4,704
Accounts receivable, net - Accounted for under topics other than ASC 606			194						64
Accounts receivable, net - Affiliate			31						5
Total accounts receivable, net			$	3,274					$	4,773
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)			$	1,297					$	1,952
Deferred revenues(a)			1,658						186

(a) Deferred revenues from contracts with customers as of June 30, 2023 and December 31, 2022 were approximately $1.6 billion and $175 million, respectively. The increase in deferred revenues is primarily due to acquisition of Vivint Smart Home

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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- References

No definition available.

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