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Acquisitions and Dispositions (Tables)
 9 Months Ended
Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Total Consideration
The total consideration of $2.623 billion includes:
(In millions)
Vivint Smart Home, Inc. common shares outstanding as of March 10, 2023 of 216,901,639 at $12.00 per share
$2,603 
Other Vivint Smart Home, Inc. equity instruments (Cash out RSUs and PSUs, Stock Appreciation Rights, Private Placement Warrants)6 
Total Cash Consideration$2,609 
Fair value of acquired Vivint Smart Home, Inc. equity awards attributable to pre-combination service14 
Total Consideration$2,623 
Schedule of Purchase Price Allocation
The purchase price is provisionally allocated as follows:
(In millions)
Current Assets
Cash and cash equivalents$120 
Accounts receivable, net60 
Inventory113 
Prepayments and other current assets37 
Total current assets330 
Property, plant and equipment, net49 
Other Assets
Operating lease right-of-use assets, net35 
Goodwill(a)
3,494 
Intangible assets, net(b):
   Customer relationships1,740 
   Technology860 
   Trade name160 
   Sales channel contract10 
Intangible assets, net2,770 
 Deferred income taxes382 
Other non-current assets14 
Total other assets6,695 
Total Assets $7,074 
Current Liabilities
Current portion of long-term debt and finance leases$14 
Current portion of operating lease liabilities13 
Accounts payable109 
Derivatives instruments80 
Deferred revenue current518 
Accrued expenses and other current liabilities207 
Total current liabilities941 
Other Liabilities
Long-term debt and finance leases2,572 
Non-current operating lease liabilities28 
Derivatives instruments32 
Deferred income taxes 18 
Deferred revenue non-current837 
Other non-current liabilities23 
Total other liabilities3,510 
Total Liabilities$4,451 
Vivint Smart Home Purchase Price$2,623 
(a)Goodwill arising from the acquisition is attributed to the value of the platform acquired, cross-selling opportunities, subscriber growth and the synergies expected from combining the operations of Vivint Smart Home with NRG's existing businesses. None of the goodwill recorded is expected to be deductible for tax purposes
(b)The weighted average amortization period for total amortizable intangible assets is approximately ten years
The following measurement period adjustments were recognized during the three months ended September 30, 2023:
(In millions)
Goodwill$2 
Deferred income taxes1 
   Total increase in assets$3 
Liabilities
Deferred revenue current$1 
Deferred revenue non-current2 
   Total increase in liabilities$3 
   Net change in net assets acquired$— 
Schedule of Pro Forma Financial Information The pro forma financial information has been prepared for illustrative and informational purposes only, and is not intended to project future operating results or be indicative of what the Company's financial performance would have been had the transactions occurred on the date acquired. No effect has been given to prospective operating synergies.
Three months ended September 30,Nine months ended September 30,
(In millions)2023202220232022
Total operating revenues$7,946 $8,949 $22,302 $24,927 
Net income/(loss)367 (4)(588)2,013 
Schedule of Classified Held for Sale
As of September 30, 2023, the following is classified as held-for-sale in the consolidated balance sheets, which are primarily related to the sales of STP and Gregory within the Texas segment:
(In millions)
Inventory$68 
Prepayments and other current assets18 
Current assets - held-for-sale$86 
Property, plant and equipment, net$248 
Intangible assets, net12 
Nuclear decommissioning trust fund893 
Non-current assets - held-for-sale$1,153 
Total assets held-for-sale$1,239 
Current liabilities - held-for-sale$44 
Nuclear decommissioning reserve$341 
Nuclear decommissioning trust liability518 
Other non-current liabilities67 
Non-current liabilities - held-for-sale$926 
Total liabilities held-for-sale$970 
The Company recorded income before income taxes from its 44% equity interest in STP as follows:
Three months ended September 30,Nine months ended September 30,
(In millions)2023202220232022
Income before income taxes(a)
$188 $175 $195 $331 
(a)Excludes the impact of the Company's hedges at the portfolio level