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Goodwill and Other Intangibles (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following table presents the changes in goodwill for the years ended December 31, 2024 and 2023 based on the Company's reportable segments:
(in millions) | Texas |  | East |  | West/Services/Other |  | Vivint Smart Home |  | Total
Balance as of January 1, 2023 | $ | 710 |  |  | $ | 723 |  |  | $ | 217 |  |  | $ | — |  |  | $ | 1,650 |
Goodwill resulted from the acquisition of Vivint | — |  |  | — |  |  | — |  |  | 3,494 |  |  | 3,494 |
Asset sales | (67) |  |  | (2) |  |  | — |  |  | — |  |  | (69) |
Foreign currency translation adjustments | — |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Balance as of December 31, 2023 | $ | 643 |  |  | $ | 721 |  |  | $ | 221 |  |  | $ | 3,494 |  |  | $ | 5,079 |
Impairment | — |  |  | — |  |  | (15) |  |  | — |  |  | (15) |
Sale of Airtron | — |  |  | — |  |  | (43) |  |  | — |  |  | (43) |
Foreign currency translation adjustments | — |  |  | — |  |  | (10) |  |  | — |  |  | (10) |
Balance as of December 31, 2024 | $ | 643 |  |  | $ | 721 |  |  | $ | 153 |  |  | $ | 3,494 |  |  | $ | 5,011 |
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, 2024 | Emission Allowances |  | Customer and Supply Contracts |  |  |  | Customer Relationships |  | Marketing Partnerships |  | Technology |  | Trade Names |  | Other(a) |  | Total
January 1, 2024 | $ | 628 |  |  | $ | 609 |  |  |  |  | $ | 3,464 |  |  | $ | 295 |  |  | $ | 860 |  |  | $ | 841 |  |  | $ | 224 |  |  | $ | 6,921 |
Purchases | 22 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 497 |  |  | 519 |
Acquisition of businesses(b) | — |  |  | — |  |  |  |  | 35 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 35 |
Usage/Sales/Retirements/Transfers | (19) |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (461) |  |  | (480) |
Write-off of fully amortized balances | — |  |  | — |  |  |  |  | (146) |  |  | — |  |  | — |  |  | (11) |  |  | — |  |  | (157) |
Sale of Airtron(c) | — |  |  | — |  |  |  |  | (255) |  |  | — |  |  | — |  |  | (24) |  |  | — |  |  | (279) |
Other | (6) |  |  | (3) |  |  |  |  | (5) |  |  | (1) |  |  | 1 |  |  | (5) |  |  | — |  |  | (19) |
December 31, 2024 | 625 |  |  | 606 |  |  |  |  | 3,093 |  |  | 294 |  |  | 861 |  |  | 801 |  |  | 260 |  |  | 6,540 |
Less accumulated amortization | (538) |  |  | (399) |  |  |  |  | (1,555) |  |  | (193) |  |  | (457) |  |  | (443) |  |  | (47) |  |  | (3,632) |
Net carrying amount | $ | 87 |  |  | $ | 207 |  |  |  |  | $ | 1,538 |  |  | $ | 101 |  |  | $ | 404 |  |  | $ | 358 |  |  | $ | 213 |  |  | $ | 2,908 |
(a)RECs are not subject to amortization and had a carrying value of $213 million (b)The weighted average amortization period for total amortizable intangible assets is approximately 5 years (c)Includes $81 million of intangibles that were amortized
(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 (c)Includes $47 million of intangibles that were amortized
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) | 2024 |  | 2023 |  | 2022
Emission allowances | $ | 5 |  |  | $ | 6 |  |  | $ | 6 |
Customer and supply contracts | 71 |  |  | 121 |  |  | 141 |
Customer relationships | 476 |  |  | 556 |  |  | 269 |
Marketing partnerships | 23 |  |  | 24 |  |  | 23 |
Technology | 227 |  |  | 230 |  |  | — |
Trade names | 59 |  |  | 60 |  |  | 47 |
Other(a) | 15 |  |  | 4 |  |  | 4 |
Total amortization | $ | 876 |  |  | $ | 1,001 |  |  | $ | 490 |
(a)For the year ended December 31, 2024, 2023 and 2022, other intangibles amortized to depreciation and amortization expense were $15 million, de minimis and $4 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, 2024 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 |  |  |  | Total
2025 | $ | 15 |  |  |  |  | $ | 50 |  |  | $ | 361 |  |  | $ | 23 |  |  | $ | 176 |  |  | $ | 45 |  |  |  |  | $ | 670 |
2026 | 16 |  |  |  |  | 52 |  |  | 289 |  |  | 23 |  |  | 130 |  |  | 37 |  |  |  |  | 547 |
2027 | 19 |  |  |  |  | 30 |  |  | 220 |  |  | 23 |  |  | 89 |  |  | 37 |  |  |  |  | 418 |
2028 | 20 |  |  |  |  | 12 |  |  | 177 |  |  | 15 |  |  | 9 |  |  | 37 |  |  |  |  | 270 |
2029 | 12 |  |  |  |  | 13 |  |  | 137 |  |  | 5 |  |  | — |  |  | 37 |  |  |  |  | 204 |

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