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Revenue Recognition (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2023 and 2022:

			Three months ended September 30, 2023
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home(a)						Corporate/Eliminations						Total
Retail revenue:
Home(a)			$	2,397					$	544					$	390					$	478					$	(1)					$	3,808
Business			1,092						2,089						532						—						—						3,713
Total retail revenue(b)			3,489						2,633						922						478						(1)						7,521
Energy revenue(b)			51						152						59						—						(1)						261
Capacity revenue(b)			—						64						(4)						—						(1)						59
Mark-to-market for economic hedging activities(c)			—						(60)						(10)						—						—						(70)
Contract amortization			—						(6)						1						—						—						(5)
Other revenue(b)			146						26						10						—						(2)						180
Total revenue			3,686						2,809						978						478						(5)						7,946
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						8						10						—						—						18
Less: Realized and unrealized ASC 815 revenue			16						58						(7)						—						—						67
Total revenue from contracts with customers			$	3,670					$	2,743					$	975					$	478					$	(5)					$	7,861
(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			$	—					$	14					$	—					$	—					$	—					$	14
Energy revenue			—						77						—						—						—						77
Capacity revenue			—						27						—						—						—						27
Other revenue			16						—						3						—						—						19
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Three months ended September 30, 2022
(In millions)			Texas						East						West/Services/Other						Corporate/Eliminations						Total
Retail revenue:
Home(a)			$	2,068					$	530					$	435					$	—					$	3,033
Business			931						3,333						561						—						4,825
Total retail revenue			2,999						3,863						996						—						7,858
Energy revenue(b)			48						212						180						10						450
Capacity revenue(b)			—						38						—						—						38
Mark-to-market for economic hedging activities(c)			4						32						(7)						4						33
Contract amortization			—						(10)						4						—						(6)
Other revenue(b)			94						43						2						(2)						137
Total revenue			3,145						4,178						1,175						12						8,510
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						3						14						(1)						16
Less: Realized and unrealized ASC 815 revenue			15						93						13						14						135
Total revenue from contracts with customers			$	3,130					$	4,082					$	1,148					$	(1)					$	8,359
(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
Retail revenue			$	—					$	90					$	—					$	—					$	90
Energy revenue			—						(39)						27						11						(1)
Capacity revenue			—						7						—						—						7
Other revenue			11						3						(7)						(1)						6
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Nine months ended September 30, 2023
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home(a)(b)						Corporate/Eliminations						Total
Retail revenue:
Home(b)			$	5,196					$	1,641					$	1,421					$	1,070					$	(1)					$	9,327
Business			2,646						7,366						1,572						—						—						11,584
Total retail revenue(c)			7,842						9,007						2,993						1,070						(1)						20,911
Energy revenue(c)			71						254						147						—						—						472
Capacity revenue(c)			—						154						(3)						—						(1)						150
Mark-to-market for economic hedging activities(d)			—						27						80						—						(11)						96
Contract amortization			—						(24)						—						—						—						(24)
Other revenue(c)			322						70						27						—						(8)						411
Total revenue			8,235						9,488						3,244						1,070						(21)						22,016
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						13						26						—						—						39
Less: Realized and unrealized ASC 815 revenue			28						270						97						—						(10)						385
Total revenue from contracts with customers			$	8,207					$	9,205					$	3,121					$	1,070					$	(11)					$	21,592
(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			$	—					$	57					$	—					$	—					$	—					$	57
Energy revenue			—						137						10						—						1						148
Capacity revenue			—						50						—						—						—						50
Other revenue			28						(1)						7						—						—						34
(d) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Nine months ended September 30, 2022
(In millions)			Texas						East						West/Services/Other						Corporate/Eliminations						Total
Retail revenue:
Home(a)			$	5,006					$	1,526					$	1,681					$	(1)					$	8,212
Business			2,504						10,258						1,405						—						14,167
Total retail revenue			7,510						11,784						3,086						(1)						22,379
Energy revenue(b)			101						544						365						24						1,034
Capacity revenue(b)			—						242						2						—						244
Mark-to-market for economic hedging activities(c)			1						(204)						(63)						18						(248)
Contract amortization			—						(30)						2						—						(28)
Other revenue(b)			245						71						3						(12)						307
Total revenue			7,857						12,407						3,395						29						23,688
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						(10)						33						(1)						22
Less: Realized and unrealized ASC 815 revenue			(5)						(96)						(99)						41						(159)
Total revenue from contracts with customers			$	7,862					$	12,513					$	3,461					$	(11)					$	23,825
(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
Retail revenue			$	—					$	90					$	—					$	—					$	90
Energy revenue			—						(13)						(13)						24						(2)
Capacity revenue			—						29						—						—						29
Other revenue			(6)						2						(23)						(1)						(28)
(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 September 30, 2023 and December 31, 2022:

(In millions)			September 30, 2023						December 31, 2022
Capitalized contract costs			$	639					$	126
Accounts receivable, net - Contracts with customers			3,553						4,704
Accounts receivable, net - Accounted for under topics other than ASC 606			188						64
Accounts receivable, net - Affiliate			23						5
Total accounts receivable, net			$	3,764					$	4,773
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)			$	1,336					$	1,952
Deferred revenues(a)			1,720						186

(a) Deferred revenues from contracts with customers as of September 30, 2023 and December 31, 2022 were approximately $1.7 billion and $175 million, respectively. The increase in deferred revenues is primarily due to the 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

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