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Goodwill and Other Intangibles (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The table below presents the changes of goodwill for the years ended December 31, 2023 and 2022 based on the Company's reportable segments.
(in millions) | Texas |  | East |  | West/Services/Other |  | Vivint Smart Home |  | Total
Balance as of January 1, 2022 | $ | 716 |  |  | $ | 853 |  |  | $ | 226 |  |  | $ | — |  |  | $ | 1,795 |
Impairment losses | — |  |  | (130) |  |  | — |  |  | — |  |  | (130) |
Asset sales | (6) |  |  | — |  |  | — |  |  | — |  |  | (6) |
Foreign currency translation | — |  |  | — |  |  | (9) |  |  | — |  |  | (9) |
Balance as of December 31, 2022 | $ | 710 |  |  | $ | 723 |  |  | $ | 217 |  |  | $ | — |  |  | $ | 1,650 |
Goodwill resulted from the acquisition of Vivint | — |  |  | — |  |  | — |  |  | 3,494 |  |  | 3,494 |
Asset sales | (67) |  |  | (2) |  |  | — |  |  | — |  |  | (69) |
Foreign currency translation | — |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Balance as of December 31, 2023 | $ | 643 |  |  | $ | 721 |  |  | $ | 221 |  |  | $ | 3,494 |  |  | $ | 5,079 |
Summary of the Components of Intangible Assets Subject to Amortization | The following tables summarize the components of NRG's intangible assets:
(In millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year Ended December 31, 2023 | Emission Allowances |  | Customer and Supply Contracts |  |  |  | Customer Relationships |  | Marketing Partnerships |  | Technology |  | Trade Names |  | Other(a) |  | Total
January 1, 2023 | $ | 624 |  |  | $ | 635 |  |  |  |  | $ | 1,730 |  |  | $ | 284 |  |  | $ | — |  |  | $ | 679 |  |  | $ | 292 |  |  | $ | 4,244 |
Purchases | 10 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 465 |  |  | 475 |
Acquisition of businesses(b) | — |  |  | — |  |  |  |  | 1,773 |  |  | 10 |  |  | 860 |  |  | 160 |  |  | — |  |  | 2,803 |
Usage/Sales/Retirements | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (474) |  |  | (474) |
Write-off of fully amortized balances | (1) |  |  | (28) |  |  |  |  | (43) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (72) |
Sale of STP(c) | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (59) |  |  | (59) |
Other | (5) |  |  | 2 |  |  |  |  | 4 |  |  | 1 |  |  | — |  |  | 2 |  |  | — |  |  | 4 |
December 31, 2023 | 628 |  |  | 609 |  |  |  |  | 3,464 |  |  | 295 |  |  | 860 |  |  | 841 |  |  | 224 |  |  | 6,921 |
Less accumulated amortization | (533) |  |  | (328) |  |  |  |  | (1,300) |  |  | (170) |  |  | (230) |  |  | (401) |  |  | (32) |  |  | (2,994) |
Net carrying amount | $ | 95 |  |  | $ | 281 |  |  |  |  | $ | 2,164 |  |  | $ | 125 |  |  | $ | 630 |  |  | $ | 440 |  |  | $ | 192 |  |  | $ | 3,927 |
(a)RECs are not subject to amortization and had a carrying value of $177 million (b)The weighted average amortization period for total amortizable intangible assets is approximately 10 years. See Note 4, Acquisitions and Dispositions, for weighted average life of acquired amortizable intangibles for each intangible asset type (c)Includes $47 million of intangibles that were amortized
(In millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year Ended December 31, 2022 | Emission Allowances |  | Customer and Supply Contracts |  |  |  | Customer Relationships |  | Marketing Partnerships |  | Trade Names |  | Other(a) |  | Total
January 1, 2022 | $ | 634 |  |  | $ | 638 |  |  |  |  | $ | 1,679 |  |  | $ | 284 |  |  | $ | 683 |  |  | $ | 229 |  |  | $ | 4,147 |
Purchases | 26 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | 404 |  |  | 430 |
Acquisition of businesses(b) | — |  |  | — |  |  |  |  | 55 |  |  | — |  |  | — |  |  | — |  |  | 55 |
Usage/Retirements | (33) |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | (341) |  |  | (374) |
Write-off of fully amortized balances | (14) |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (14) |
Other | 11 |  |  | (3) |  |  |  |  | (4) |  |  | — |  |  | (4) |  |  | — |  |  | — |
December 31, 2022 | 624 |  |  | 635 |  |  |  |  | 1,730 |  |  | 284 |  |  | 679 |  |  | 292 |  |  | 4,244 |
Less accumulated amortization | (528) |  |  | (235) |  |  |  |  | (787) |  |  | (146) |  |  | (341) |  |  | (75) |  |  | (2,112) |
Net carrying amount | $ | 96 |  |  | $ | 400 |  |  |  |  | $ | 943 |  |  | $ | 138 |  |  | $ | 338 |  |  | $ | 217 |  |  | $ | 2,132 |
(a)RECs are not subject to amortization and had a carrying value of $186 million (b)The weighted average life of acquired amortizable intangibles was six years for customer relationships
Schedule of Amortization and Retirements of Intangible Expense | The following table presents NRG's amortization of intangible assets for each of the past three years:
| Years Ended December 31,
(In millions) | 2023 |  | 2022 |  | 2021
Emission allowances | $ | 6 |  |  | $ | 6 |  |  | $ | 24 |
Customer and supply contracts | 121 |  |  | 141 |  |  | 66 |
Customer relationships | 556 |  |  | 269 |  |  | 327 |
Marketing partnerships | 24 |  |  | 23 |  |  | 24 |
Technology | 230 |  |  | — |  |  | — |
Trade names | 60 |  |  | 47 |  |  | 47 |
Other(a) | 4 |  |  | 4 |  |  | 7 |
Total amortization | $ | 1,001 |  |  | $ | 490 |  |  | $ | 495 |
(a)For the year ended December 31, 2023, 2022 and 2021, other intangibles amortized to depreciation and amortization expense were de minimis, $4 million and $3 million, respectively
Schedule of Estimated Amortization of Intangible Assets for Next Five Years | The following table presents estimated amortization of NRG's intangible assets as of December 31, 2023 for each of the next five years:
(In millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year Ended December 31, | Emission Allowances |  |  |  | Customer and Supply Contracts |  | Customer Relationships |  | Marketing Partnerships |  | Technology |  | Trade Names |  | Other |  | Total
2024 | $ | 17 |  |  |  |  | $ | 73 |  |  | $ | 478 |  |  | $ | 24 |  |  | $ | 227 |  |  | $ | 54 |  |  | $ | 3 |  |  | $ | 876 |
2025 | 14 |  |  |  |  | 50 |  |  | 371 |  |  | 23 |  |  | 176 |  |  | 47 |  |  | 3 |  |  | 684 |
2026 | 9 |  |  |  |  | 52 |  |  | 300 |  |  | 23 |  |  | 130 |  |  | 39 |  |  | 3 |  |  | 556 |
2027 | 8 |  |  |  |  | 30 |  |  | 233 |  |  | 23 |  |  | 89 |  |  | 39 |  |  | 3 |  |  | 425 |
2028 | 9 |  |  |  |  | 13 |  |  | 189 |  |  | 15 |  |  | 9 |  |  | 39 |  |  | 2 |  |  | 276 |

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