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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting |
| For the Year Ended December 31, 2024
(In millions) | Texas |  | East |  | West/Services/Other |  | Vivint Smart Home |  | Corporate(a) |  | Eliminations |  | Total
Revenue(a) | $ | 10,653 |  |  | $ | 11,707 |  |  | $ | 3,886 |  |  | $ | 1,932 |  |  | $ | — |  |  | $ | (48) |  |  | $ | 28,130 |
Operating Expenses | 9,785 |  |  | 9,746 |  |  | 3,874 |  |  | 1,037 |  |  | 81 |  |  | (48) |  |  | 24,475 |
Depreciation and amortization | 323 |  |  | 158 |  |  | 114 |  |  | 767 |  |  | 41 |  |  | — |  |  | 1,403 |
Impairment losses | 7 |  |  | — |  |  | 29 |  |  | — |  |  | — |  |  | — |  |  | 36 |
Total operating cost and expenses | 10,115 |  |  | 9,904 |  |  | 4,017 |  |  | 1,804 |  |  | 122 |  |  | (48) |  |  | 25,914 |
(Loss)/gain on sale of assets | (4) |  |  | 3 |  |  | 209 |  |  | — |  |  | — |  |  | — |  |  | 208 |
Operating income/(loss) | 534 |  |  | 1,806 |  |  | 78 |  |  | 128 |  |  | (122) |  |  | — |  |  | 2,424 |
Equity in earnings of unconsolidated affiliates | — |  |  | — |  |  | 20 |  |  | — |  |  | — |  |  | — |  |  | 20 |
Impairment losses on investments | — |  |  | — |  |  | (7) |  |  | — |  |  | — |  |  | — |  |  | (7) |
Other income, net | — |  |  | (1) |  |  | 6 |  |  | (15) |  |  | 54 |  |  | — |  |  | 44 |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | (382) |  |  | — |  |  | (382) |
Interest expense | — |  |  | — |  |  | — |  |  | — |  |  | (651) |  |  | — |  |  | (651) |
Income/(loss) before income taxes | 534 |  |  | 1,805 |  |  | 97 |  |  | 113 |  |  | (1,101) |  |  | — |  |  | 1,448 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |  |  | 323 |  |  | — |  |  | 323 |
Net income/(loss) | $ | 534 |  |  | $ | 1,805 |  |  | $ | 97 |  |  | $ | 113 |  |  | $ | (1,424) |  |  | $ | — |  |  | $ | 1,125 |
Balance sheet |  |  |  |  |  |  |  |  |  |  |  |  |
Equity investments in affiliates | $ | — |  |  | $ | — |  |  | $ | 45 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 45 |
Capital expenditures | 369 |  |  | 3 |  |  | 16 |  |  | 23 |  |  | 61 |  |  | — |  |  | 472 |
Goodwill | 643 |  |  | 721 |  |  | 153 |  |  | 3,494 |  |  | — |  |  | — |  |  | 5,011 |
Total assets | $ | 6,925 |  |  | $ | 8,021 |  |  | $ | 2,254 |  |  | $ | 6,624 |  |  | $ | 15,543 |  |  | $ | (15,345) |  |  | $ | 24,022 |
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues | $ | 22 |  |  | $ | — |  |  | $ | 18 |  |  | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | 48 |
| 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 | 8,353 |  |  | 14,361 |  |  | 5,021 |  |  | 858 |  |  | 133 |  |  | (30) |  |  | 28,696 |
Depreciation and amortization | 348 |  |  | 167 |  |  | 99 |  |  | 645 |  |  | 36 |  |  | — |  |  | 1,295 |
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 |  |  | (1) |  |  | 1 |  |  | (15) |  |  | 60 |  |  | — |  |  | 47 |
Gain on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | 109 |  |  | — |  |  | 109 |
Interest expense | — |  |  | — |  |  | — |  |  | — |  |  | (667) |  |  | — |  |  | (667) |
Income/(loss) before income taxes | 3,094 |  |  | (1,727) |  |  | (944) |  |  | 31 |  |  | (667) |  |  | — |  |  | (213) |
Income tax benefit | — |  |  | — |  |  | — |  |  | — |  |  | (11) |  |  | — |  |  | (11) |
Net income/(loss) | $ | 3,094 |  |  | $ | (1,727) |  |  | $ | (944) |  |  | $ | 31 |  |  | $ | (656) |  |  | $ | — |  |  | $ | (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(c) | $ | 8,236 |  |  | $ | 13,712 |  |  | $ | 3,612 |  |  | $ | 6,619 |  |  | $ | 20,357 |  |  | $ | (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) Tax related balances have been recast to Corporate for comparative purposes
| 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 | 8,444 |  |  | 15,998 |  |  | 4,106 |  |  | 86 |  |  | 17 |  |  | 28,651 |
Depreciation and amortization | 361 |  |  | 241 |  |  | 87 |  |  | 31 |  |  | — |  |  | 720 |
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 | 1,262 |  |  | 318 |  |  | 558 |  |  | (120) |  |  | — |  |  | 2,018 |
Equity in (losses)/earnings of unconsolidated affiliates | (2) |  |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 6 |
Other income, net | 4 |  |  | 1 |  |  | 1 |  |  | 50 |  |  | — |  |  | 56 |
Interest expense | — |  |  | — |  |  | — |  |  | (417) |  |  | — |  |  | (417) |
Income/(loss) before income taxes | 1,264 |  |  | 319 |  |  | 567 |  |  | (487) |  |  | — |  |  | 1,663 |
Income tax expense | — |  |  | — |  |  | — |  |  | 442 |  |  | — |  |  | 442 |
Net income/(loss) | $ | 1,264 |  |  | $ | 319 |  |  | $ | 567 |  |  | $ | (929) |  |  | $ | — |  |  | $ | 1,221 |
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues | $ | 4 |  |  | $ | (26) |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |  | $ | (17) |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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