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Revenue Recognition (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2025 and 2024:

			Three months ended September 30, 2025
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue:
Home			$	2,265					$	600					$	235					$	532					$	(19)					$	3,613
Business			1,035						2,166						468						—						—						3,669
Total retail revenue(a)			3,300						2,766						703						532						(19)						7,282
Energy revenue(a)			16						132						—						—						—						148
Capacity revenue(a)			—						87						—						—						—						87
Mark-to-market for economic hedging activities(b)			—						28						6						—						—						34
Contract amortization			—						1						—						—						—						1
Other revenue(a)			63						16						6						—						(2)						83
Total revenue			3,379						3,030						715						532						(21)						7,635
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						1						34						—						—						35
Less: Realized and unrealized ASC 815 revenue			23						68						8						—						(2)						97
Total revenue from contracts with customers			$	3,356					$	2,961					$	673					$	532					$	(19)					$	7,503
(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			—						16						—						—						(2)						14
Capacity revenue			—						16						—						—						—						16
Other revenue			23						(1)						2						—						—						24
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Three months ended September 30, 2024
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue:
Home			$	2,235					$	616					$	349					$	499					$	(4)					$	3,695
Business			996						1,852						411						—						—						3,259
Total retail revenue(a)			3,231						2,468						760						499						(4)						6,954
Energy revenue(a)			12						67						52						—						(3)						128
Capacity revenue(a)			—						40						8						—						(1)						47
Mark-to-market for economic hedging activities(b)			—						1						6						—						1						8
Contract amortization			—						(7)						(1)						—						—						(8)
Other revenue(a)			58						31						8						—						(3)						94
Total revenue			3,301						2,600						833						499						(10)						7,223
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						14						13						—						—						27
Less: Realized and unrealized ASC 815 revenue			19						33						18						—						(1)						69
Total revenue from contracts with customers			$	3,282					$	2,553					$	802					$	499					$	(9)					$	7,127
(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			$	—					$	6					$	—					$	—					$	—					$	6
Energy revenue			—						9						12						—						(3)						18
Capacity revenue			—						17						—						—						—						17
Other revenue			19						—						—						—						1						20
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Nine months ended September 30, 2025
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue:
Home			$	5,624					$	1,862					$	962					$	1,530					$	(53)					$	9,925
Business			2,842						7,862						1,388						—						—						12,092
Total retail revenue(a)			8,466						9,724						2,350						1,530						(53)						22,017
Energy revenue(a)			38						354						101						—						(1)						492
Capacity revenue(a)			—						182						14						—						(1)						195
Mark-to-market for economic hedging activities(b)			—						12						6						—						—						18
Contract amortization			—						(4)						—						—						—						(4)
Other revenue(a)			157						76						18						—						(9)						242
Total revenue			8,661						10,344						2,489						1,530						(64)						22,960
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						38						92						—						—						130
Less: Realized and unrealized ASC 815 revenue			33						127						7						—						(2)						165
Total revenue from contracts with customers			$	8,628					$	10,179					$	2,390					$	1,530					$	(62)					$	22,665
(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			$	—					$	27					$	—					$	—					$	—					$	27
Energy revenue			—						38						—						—						(2)						36
Capacity revenue			—						48						—						—						—						48
Other revenue			33						2						1						—						—						36
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

			Nine months ended September 30, 2024
(In millions)			Texas						East						West/Services/Other						Vivint Smart Home						Corporate/Eliminations						Total
Retail revenue:
Home			$	5,361					$	1,855					$	1,362					$	1,434					$	(12)					$	10,000
Business			2,740						6,402						1,385						—						—						10,527
Total retail revenue(a)			8,101						8,257						2,747						1,434						(12)						20,527
Energy revenue(a)			35						194						170						—						(9)						390
Capacity revenue(a)			—						120						16						—						(3)						133
Mark-to-market for economic hedging activities(b)			—						15						14						—						3						32
Contract amortization			—						(23)						(2)						—						—						(25)
Other revenue(a)			161						84						17						—						(8)						254
Total revenue			8,297						8,647						2,962						1,434						(29)						21,311
Less: Revenues accounted for under topics other than ASC 606 and ASC 815			—						36						38						—						—						74
Less: Realized and unrealized ASC 815 revenue			29						165						60						—						(4)						250
Total revenue from contracts with customers			$	8,268					$	8,446					$	2,864					$	1,434					$	(25)					$	20,987
(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			$	—					$	25					$	—					$	—					$	—					$	25
Energy revenue			—						67						50						—						(8)						109
Capacity revenue			—						58						—						—						—						58
Other revenue			29						—						(4)						—						1						26
(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 September 30, 2025 and December 31, 2024:

(In millions)			September 30, 2025						December 31, 2024
Capitalized contract costs (included in Prepayments and other current assets and Other non-current assets)			$	1,644					$	1,220
Accounts receivable, net - Contracts with customers			3,244						3,393
Accounts receivable, net - Accounted for under topics other than ASC 606			86						90
Accounts receivable, net - Affiliate			2						5
Total accounts receivable, net			$	3,332					$	3,488
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)			$	1,316					$	1,548
Deferred revenues(a)			1,652						1,573

(a)Deferred revenues from contracts with customers as of September 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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X

- References

No definition available.

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