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Segment Reporting | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company’s segment structure reflects how management makes financial decisions and allocates resources. The Company manages its operations based on the combined results of the retail and wholesale generation businesses with a geographical focus. Vivint Smart Home operations are reported within the Vivint Smart Home segment. NRG's chief operating decision maker, its interim chief executive officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, free cash flow and allocation of capital, as well as net income/(loss). The accounting policies of the segments are the same as those applied in the consolidated financial statements as disclosed in Note 2, Summary of Significant Accounting Policies. The Company had no customer that comprised more than 10% of the Company's consolidated revenues during the years ended December 31, 2023, 2022 and 2021. Intersegment sales are accounted for at market.
| For the Year Ended December 31, 2023
(In millions) | Texas |  | East |  | West/Services/Other |  | Vivint Smart Home(a) |  | Corporate(b) |  | Eliminations |  | Total
Revenue(b) | $ | 10,476 |  |  | $ | 12,547 |  |  | $ | 4,281 |  |  | $ | 1,549 |  |  | $ | — |  |  | $ | (30) |  |  | $ | 28,823 |
Operating expenses | 8,407 |  |  | 14,412 |  |  | 5,025 |  |  | 917 |  |  | 133 |  |  | (30) |  |  | 28,864 |
Depreciation and amortization | 294 |  |  | 116 |  |  | 95 |  |  | 586 |  |  | 36 |  |  | — |  |  | 1,127 |
Impairment losses | 2 |  |  | 4 |  |  | 20 |  |  | — |  |  | — |  |  | — |  |  | 26 |
Total operating cost and expenses | 8,703 |  |  | 14,532 |  |  | 5,140 |  |  | 1,503 |  |  | 169 |  |  | (30) |  |  | 30,017 |
Gain on sale of assets | 1,319 |  |  | 259 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,578 |
Operating income/(loss) | 3,092 |  |  | (1,726) |  |  | (859) |  |  | 46 |  |  | (169) |  |  | — |  |  | 384 |
Equity in earnings of unconsolidated affiliates | — |  |  | — |  |  | 16 |  |  | — |  |  | — |  |  | — |  |  | 16 |
Impairment losses on investments | — |  |  | — |  |  | (102) |  |  | — |  |  | — |  |  | — |  |  | (102) |
Other income, net | 2 |  |  | 11 |  |  | 6 |  |  | (12) |  |  | 56 |  |  | (16) |  |  | 47 |
Gain on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | 109 |  |  | — |  |  | 109 |
Interest expense | (3) |  |  | (3) |  |  | (31) |  |  | (177) |  |  | (469) |  |  | 16 |  |  | (667) |
Income/(loss) before income taxes | 3,091 |  |  | (1,718) |  |  | (970) |  |  | (143) |  |  | (473) |  |  | — |  |  | (213) |
Income tax (benefit)/expense(c) | — |  |  | — |  |  | (111) |  |  | (32) |  |  | 132 |  |  | — |  |  | (11) |
Net income/(loss) | $ | 3,091 |  |  | $ | (1,718) |  |  | $ | (859) |  |  | $ | (111) |  |  | $ | (605) |  |  | $ | — |  |  | $ | (202) |
Balance sheet |  |  |  |  |  |  |  |  |  |  |  |  |
Equity investments in affiliates | $ | — |  |  | $ | — |  |  | $ | 42 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 42 |
Capital expenditures | 495 |  |  | 5 |  |  | 27 |  |  | 18 |  |  | 53 |  |  | — |  |  | 598 |
Goodwill | 643 |  |  | 721 |  |  | 221 |  |  | 3,494 |  |  | — |  |  | — |  |  | 5,079 |
Total assets | $ | 8,236 |  |  | $ | 13,712 |  |  | $ | 3,626 |  |  | $ | 7,043 |  |  | $ | 19,919 |  |  | $ | (26,498) |  |  | $ | 26,038 |
(a) Includes results of operations following the acquisition date of March 10, 2023
(b) Inter-segment sales and inter-segment net derivative gains and losses included in revenues | $ | 5 |  |  | $ | 9 |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 30 |
(c) Consolidated domestic federal and state income taxes are recorded to the Corporate segment, except for Vivint Smart Home which is recorded directly to the Vivint Smart Home segment. West/Services/Other amounts represent foreign income taxes
| For the Year Ended December 31, 2022
(In millions) | Texas |  | East |  | West/Services/Other |  | Corporate(a) |  | Eliminations |  | Total
Revenue(a) | $ | 10,057 |  |  | $ | 16,763 |  |  | $ | 4,706 |  |  | $ | — |  |  | $ | 17 |  |  | $ | 31,543 |
Operating expenses | 8,495 |  |  | 16,031 |  |  | 4,108 |  |  | 86 |  |  | 17 |  |  | 28,737 |
Depreciation and amortization | 310 |  |  | 208 |  |  | 85 |  |  | 31 |  |  | — |  |  | 634 |
Impairment losses | — |  |  | 206 |  |  | — |  |  | — |  |  | — |  |  | 206 |
Total operating cost and expenses | 8,805 |  |  | 16,445 |  |  | 4,193 |  |  | 117 |  |  | 17 |  |  | 29,577 |
Gain/(loss) on sale of assets | 10 |  |  | — |  |  | 45 |  |  | (3) |  |  | — |  |  | 52 |
Operating income/(loss) | 1,262 |  |  | 318 |  |  | 558 |  |  | (120) |  |  | — |  |  | 2,018 |
Equity in (losses)/earnings of unconsolidated affiliates | (2) |  |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 6 |
Other income, net | 5 |  |  | 10 |  |  | 3 |  |  | 54 |  |  | (16) |  |  | 56 |
Interest expense | — |  |  | (1) |  |  | (32) |  |  | (400) |  |  | 16 |  |  | (417) |
Income/(loss) before income taxes | 1,265 |  |  | 327 |  |  | 537 |  |  | (466) |  |  | — |  |  | 1,663 |
Income tax expense(b) | — |  |  | 1 |  |  | 57 |  |  | 384 |  |  | — |  |  | 442 |
Net income/(loss) | $ | 1,265 |  |  | $ | 326 |  |  | $ | 480 |  |  | $ | (850) |  |  | $ | — |  |  | $ | 1,221 |
Balance sheet |  |  |  |  |  |  |  |  |  |  |
Equity investments in affiliates | $ | — |  |  | $ | — |  |  | $ | 133 |  |  | $ | — |  |  | $ | — |  |  | $ | 133 |
Capital expenditures | 273 |  |  | 7 |  |  | 37 |  |  | 50 |  |  | — |  |  | 367 |
Goodwill | 710 |  |  | 723 |  |  | 217 |  |  | — |  |  | — |  |  | 1,650 |
Total assets | $ | 11,475 |  |  | $ | 19,526 |  |  | $ | 8,139 |  |  | $ | 35,780 |  |  | $ | (45,774) |  |  | $ | 29,146 |
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues | $ | 4 |  |  | $ | (26) |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |  | $ | (17) |
(b) Consolidated domestic federal and state income taxes are recorded to the Corporate segment. West/Services/Other amounts represent foreign income taxes
| For the Year Ended December 31, 2021
(In millions) | Texas |  | East |  | West/Services/Other |  | Corporate(a) |  | Eliminations |  | Total
Revenue(a) | $ | 10,295 |  |  | $ | 13,025 |  |  | $ | 3,659 |  |  | $ | — |  |  | $ | 10 |  |  | $ | 26,989 |
Operating expenses | 8,692 |  |  | 10,256 |  |  | 3,467 |  |  | 141 |  |  | 10 |  |  | 22,566 |
Depreciation and amortization | 336 |  |  | 333 |  |  | 88 |  |  | 28 |  |  | — |  |  | 785 |
Impairment losses | — |  |  | 535 |  |  | 9 |  |  | — |  |  | — |  |  | 544 |
Total operating cost and expenses | 9,028 |  |  | 11,124 |  |  | 3,564 |  |  | 169 |  |  | 10 |  |  | 23,895 |
Gain on sale of assets | 19 |  |  | — |  |  | 17 |  |  | 211 |  |  | — |  |  | 247 |
Operating income | 1,286 |  |  | 1,901 |  |  | 112 |  |  | 42 |  |  | — |  |  | 3,341 |
Equity in (losses)/earnings of unconsolidated affiliates | (3) |  |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 17 |
Other income, net | 8 |  |  | 7 |  |  | 3 |  |  | 59 |  |  | (14) |  |  | 63 |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | (77) |  |  | — |  |  | (77) |
Interest expense | (1) |  |  | (1) |  |  | (28) |  |  | (469) |  |  | 14 |  |  | (485) |
Income/(loss) before income taxes | 1,290 |  |  | 1,907 |  |  | 107 |  |  | (445) |  |  | — |  |  | 2,859 |
Income tax expense(b) | — |  |  | — |  |  | 19 |  |  | 653 |  |  | — |  |  | 672 |
Net income/(loss) | $ | 1,290 |  |  | $ | 1,907 |  |  | $ | 88 |  |  | $ | (1,098) |  |  | $ | — |  |  | $ | 2,187 |
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues | $ | 5 |  |  | $ | (18) |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | (10) |
(b) Consolidated domestic federal and state income taxes are recorded to the Corporate segment. West/Services/Other amounts represent foreign income taxes

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