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Acquisitions and Dispositions (Tables)
 12 Months Ended
Dec. 31, 2023
Discontinued Operations and Disposal Groups [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 was allocated as follows as of December 31, 2023:
(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 names160 
   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 
Derivative 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 
Derivative 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 will be deductible for tax purposes
(b)The weighted average amortization period for total amortizable intangible assets is approximately ten years
The purchase price was allocated as follows as of December 31, 2021:
(In millions)
Current Assets
Cash and cash equivalents$152 
Funds deposited by counterparties21 
Restricted cash9 
Accounts receivable, net1,802 
Inventory106 
Derivative instruments1,014 
Cash collateral paid in support of energy risk management activities233 
Prepayments and other current assets173 
Total current assets3,510 
Property, plant and equipment, net151 
Other Assets
Goodwill(a)
1,250 
Intangible assets, net:
    Customer relationships(b)
1,277 
    Customer and supply contracts(b)
610 
    Trade names(b)
310 
    Renewable energy credits124 
Total intangible assets, net2,321 
Derivative instruments531 
Other non-current assets31 
Total other assets4,133 
Total Assets $7,794 
Current Liabilities
Accounts payable$1,116 
Derivative instruments1,266 
Cash collateral received in support of energy risk management activities21 
Accrued expenses and other current liabilities670 
Total current liabilities3,073 
Other Liabilities
Derivative instruments562 
Deferred income taxes 320 
Other non-current liabilities115 
Total other liabilities997 
Total Liabilities$4,070 
Direct Energy Purchase Price$3,724 
(a)Goodwill arising from the acquisition was attributed to the value of the platform acquired and the synergies expected from combining the operations of Direct Energy with NRG's existing businesses. Goodwill was allocated to the Texas, East, and West/Services/Other segments of $427 million, $648 million and $175 million, respectively. Goodwill deductible for tax purposes was $322 million
(b)As of January 5, 2021, the weighted average amortization period for total amortizable intangible assets was 12 years
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 indicated. No effect has been given to prospective operating synergies.
For the Year Ended December 31,
(In millions)202320222021
Total operating revenues$29,109 $33,225 $28,468 
Net (loss)/income(3)1,136 1,574 
Summary of Results of Discontinued Operations
The Company recorded income before income taxes from its 44% equity interest in STP as follows:
For the Year Ended December 31,
(In millions)202320222021
Income before income taxes(a)
$206 $362 $829 
(a)Excludes the impact of the Company's hedges at the portfolio level