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Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue from Contracts with Customer

Disaggregated Revenues

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the three and six months ended June 30, 2025 and 2024:

			Three months ended June 30, 2025
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue:
Home			$	1,804					$	524					$	238					$	504					$	(18)					$	3,052
Business			975						2,084						408						—						—						3,467
Total retail revenue(a)			2,779						2,608						646						504						(18)						6,519
Energy revenue(a)			15						64						20						—						—						99
Capacity revenue(a)			—						55						6						—						—						61
Mark-to-market for economic hedging activities(b)			—						3						(2)						—						(2)						(1)
Other revenue(a)			53						7						5						—						(3)						62
Total revenue			2,847						2,737						675						504						(23)						6,740
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						—						30						—						—						30
Less: Realized and unrealized ASC 815 revenue			12						33						(7)						—						(1)						37
Total revenue from contracts with customers			$	2,835					$	2,704					$	652					$	504					$	(22)					$	6,673
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue			$	—					$	7					$	—					$	—					$	—					$	7
Energy revenue			—						8						(4)						—						—						4
Capacity revenue			—						16						—						—						—						16
Other revenue			12						(1)						(1)						—						1						11
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Three months ended June 30, 2024
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue:
Home			$	1,766					$	537					$	414					$	467					$	(8)					$	3,176
Business			926						1,824						418						—						—						3,168
Total retail revenue(a)			2,692						2,361						832						467						(8)						6,344
Energy revenue(a)			16						46						51						—						(3)						110
Capacity revenue(a)			—						39						6						—						(1)						44
Mark-to-market for economic hedging activities(b)			—						65						17						—						2						84
Contract amortization			—						(6)						(1)						—						—						(7)
Other revenue(a)			55						27						5						—						(3)						84
Total revenue			2,763						2,532						910						467						(13)						6,659
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						12						19						—						—						31
Less: Realized and unrealized ASC 815 revenue			8						108						32						—						—						148
Total revenue from contracts with customers			$	2,755					$	2,412					$	859					$	467					$	(13)					$	6,480
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue			$	—					$	9					$	—					$	—					$	—					$	9
Energy revenue			—						15						16						—						(2)						29
Capacity revenue			—						19						—						—						—						19
Other revenue			8						—						(1)						—						—						7
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Six months ended June 30, 2025
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue:
Home			$	3,359					$	1,262					$	727					$	998					$	(34)					$	6,312
Business			1,807						5,696						920						—						—						8,423
Total retail revenue(a)			5,166						6,958						1,647						998						(34)						14,735
Energy revenue(a)			22						222						101						—						(1)						344
Capacity revenue(a)			—						95						14						—						(1)						108
Mark-to-market for economic hedging activities(b)			—						(16)						—						—						—						(16)
Contract amortization			—						(5)						—						—						—						(5)
Other revenue(a)			94						60						12						—						(7)						159
Total revenue			5,282						7,314						1,774						998						(43)						15,325
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						37						58						—						—						95
Less: Realized and unrealized ASC 815 revenue			10						59						(1)						—						—						68
Total revenue from contracts with customers			$	5,272					$	7,218					$	1,717					$	998					$	(43)					$	15,162
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue			$	—					$	18					$	—					$	—					$	—					$	18
Energy revenue			—						22						—						—						—						22
Capacity revenue			—						32						—						—						—						32
Other revenue			10						3						(1)						—						—						12
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Six months ended June 30, 2024
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue:
Home			$	3,126					$	1,239					$	1,013					$	935					$	(8)					$	6,305
Business			1,744						4,550						974						—						—						7,268
Total retail revenue(a)			4,870						5,789						1,987						935						(8)						13,573
Energy revenue(a)			23						127						118						—						(6)						262
Capacity revenue(a)			—						80						8						—						(2)						86
Mark-to-market for economic hedging activities(b)			—						14						8						—						2						24
Contract amortization			—						(16)						(1)						—						—						(17)
Other revenue(a)			103						53						9						—						(5)						160
Total revenue			4,996						6,047						2,129						935						(19)						14,088
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						22						25						—						—						47
Less: Realized and unrealized ASC 815 revenue			10						132						42						—						(3)						181
Total revenue from contracts with customers			$	4,986					$	5,893					$	2,062					$	935					$	(16)					$	13,860
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue			$	—					$	19					$	—					$	—					$	—					$	19
Energy revenue			—						58						38						—						(5)						91
Capacity revenue			—						41						—						—						—						41
Other revenue			10						—						(4)						—						—						6
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

Contract Asset and Liabilities

The following table reflects the contract assets and liabilities included in the Company’s balance sheet as of June 30, 2025 and December 31, 2024:

(In millions)			June 30, 2025						December 31, 2024
Capitalized contract costs (included in Prepayments and other current assets and Other non-current assets)			$	1,479					$	1,220
Accounts receivable, net - Contracts with customers			3,347						3,393
Accounts receivable, net - Accounted for under topics other than ASC 606			70						90
Accounts receivable, net - Affiliate			4						5
Total accounts receivable, net			$	3,421					$	3,488
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)			$	1,479					$	1,548
Deferred revenues(a)			1,620						1,573

(a)Deferred revenues from contracts with customers as of June 30, 2025 and December 31, 2024 were approximately $1.6 billion and $1.5 billion, respectively.

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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- References

No definition available.

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