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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

						Three months ended June 30, 2025
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Revenue(a)						$	2,847					$	2,737					$	675					$	504					$	—					$	(23)					$	6,740
Operating expenses						2,371						3,048						520						428						52						(23)						6,396
Depreciation and amortization						93						36						11						193						11						—						344
Total operating cost and expenses						2,464						3,084						531						621						63						(23)						6,740
Operating income/(loss)						383						(347)						144						(117)						(63)						—						—
Equity in earnings of unconsolidated affiliates						—						—						1						—						—						—						1
Other income, net						(1)						—						(1)						—						6						—						4
Loss on debt extinguishment						—						—						—						—						(10)						—						(10)
Interest expense						—						—						—						—						(148)						—						(148)
Income/(loss) before income taxes						382						(347)						144						(117)						(215)						—						(153)
Income tax benefit						—						—						—						—						(49)						—						(49)
Net income/(loss)						$	382					$	(347)					$	144					$	(117)					$	(166)					$	—					$	(104)
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues						$	6					$	2					$	2					$	13					$	—					$	—					$	23
Other segment information
Capital expenditures						$	337					$	5					$	4					$	7					$	25					$	—					$	378

						Three months ended June 30, 2024
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Revenue(a)						$	2,763					$	2,532					$	910					$	467					$	—					$	(13)					$	6,659
Operating expenses						1,719						2,045						851						255						22						(13)						4,879
Depreciation and amortization						77						39						48						186						10						—						360
Impairment losses						—						—						15						—						—						—						15
Total operating cost and expenses						1,796						2,084						914						441						32						(13)						5,254
Gain on sale of assets						—						—						5						—						—						—						5
Operating income/(loss)						967						448						1						26						(32)						—						1,410
Equity in earnings of unconsolidated affiliates						—						—						4						—						—						—						4
Other income, net						—						—						1						(8)						10						—						3
Loss on debt extinguishment						—						—						—						—						(202)						—						(202)
Interest expense						—						—						—						—						(163)						—						(163)
Income/(loss) before income taxes						967						448						6						18						(387)						—						1,052
Income tax expense						—						—						—						—						314						—						314
Net income/(loss)						$	967					$	448					$	6					$	18					$	(701)					$	—					$	738
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues						$	9					$	—					$	4					$	—					$	—					$	—					$	13
Other segment information
Capital expenditures						$	80					$	—					$	4					$	6					$	13					$	—					$	103

						Six months ended June 30, 2025
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Revenue(a)						$	5,282					$	7,314					$	1,774					$	998					$	—					$	(43)					$	15,325
Operating expenses						4,386						6,887						1,536						677						71						(43)						13,514
Depreciation and amortization						176						73						24						375						22						—						670
Total operating cost and expenses						4,562						6,960						1,560						1,052						93						(43)						14,184
Loss on sale of assets						—						—						(7)						—						—						—						(7)
Operating income/(loss)						720						354						207						(54)						(93)						—						1,134
Equity in earnings of unconsolidated affiliates						—						—						3						—						—						—						3
Other income, net						(1)						4						(1)						(8)						22						—						16
Loss on debt extinguishment						—						—						—						—						(10)						—						(10)
Interest expense						—						—						—						—						(311)						—						(311)
Income/(loss) before income taxes						719						358						209						(62)						(392)						—						832
Income tax expense						—						—						—						—						186						—						186
Net income/(loss)						$	719					$	358					$	209					$	(62)					$	(578)					$	—					$	646
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues						$	13					$	1					$	4					$	25					$	—					$	—					$	43
Other segment information
Capital expenditures						$	527					$	5					$	7					$	8					$	48					$	—					$	595

						Six months ended June 30, 2024
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Revenue(a)						$	4,996					$	6,047					$	2,129					$	935					$	—					$	(19)					$	14,088
Operating expenses						3,517						4,940						2,117						503						41						(19)						11,099
Depreciation and amortization						159						78						73						363						20						—						693
Impairment losses						—						—						15						—						—						—						15
Total operating cost and expenses						3,676						5,018						2,205						866						61						(19)						11,807
(Loss)/gain on sale of assets						(4)						—						5						—						—						—						1
Operating income/(loss)						1,316						1,029						(71)						69						(61)						—						2,282
Equity in earnings of unconsolidated affiliates						—						—						7						—						—						—						7
Other income, net						—						—						(1)						(4)						38						—						33
Loss on debt extinguishment						—						—						—						—						(260)						—						(260)
Interest expense						—						—						—						—						(315)						—						(315)
Income/(loss) before income taxes						1,316						1,029						(65)						65						(598)						—						1,747
Income tax expense						—						—						—						—						498						—						498
Net income/(loss)						$	1,316					$	1,029					$	(65)					$	65					$	(1,096)					$	—					$	1,249
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues						$	10					$	—					$	9					$	—					$	—					$	—					$	19
Other segment information
Capital expenditures						$	125					$	—					$	10					$	10					$	27					$	—					$	172

The following table summarizes balance sheet information by segment:

						As of June 30, 2025
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Equity investments in affiliates						$	—					$	—					$	47					$	—					$	—					$	—					$	47
Goodwill						643						721						159						3,494						—						—						5,017
Total assets						8,646						8,932						2,228						6,731						16,364						(18,813)						24,088
						As of December 31, 2024
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Equity investments in affiliates						$	—					$	—					$	45					$	—					$	—					$	—					$	45
Goodwill						643						721						153						3,494						—						—						5,011
Total assets						6,925						8,021						2,254						6,624						15,543						(15,345)						24,022

X

- 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

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- References

No definition available.

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