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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

						Three months ended September 30, 2025
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Revenue(a)						$	3,379					$	3,030					$	715					$	532					$	—					$	(21)					$	7,635
Operating expenses						2,997						2,869						722						270						24						(21)						6,861
Depreciation and amortization						95						37						10						207						11						—						360
Total operating cost and expenses						3,092						2,906						732						477						35						(21)						7,221
Operating income/(loss)						287						124						(17)						55						(35)						—						414
Equity in earnings of unconsolidated affiliates						—						—						1						—						—						—						1
Other income, net						—						—						—						2						8						—						10
Interest expense						—						—						—						—						(187)						—						(187)
Income/(loss) before income taxes						287						124						(16)						57						(214)						—						238
Income tax expense						—						—						—						—						86						—						86
Net income/(loss)						$	287					$	124					$	(16)					$	57					$	(300)					$	—					$	152
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues						$	4					$	—					$	2					$	15					$	—					$	—					$	21
Other segment information
Capital expenditures						$	203					$	4					$	2					$	6					$	39					$	—					$	254

						Three months ended September 30, 2024
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Revenue(a)						$	3,301					$	2,600					$	833					$	499					$	—					$	(10)					$	7,223
Operating expenses						4,274						2,470						875						258						24						(10)						7,891
Depreciation and amortization						81						39						23						198						11						—						352
Total operating cost and expenses						4,355						2,509						898						456						35						(10)						8,243
Gain on sale of assets						—						—						208						—						—						—						208
Operating (loss)/income						(1,054)						91						143						43						(35)						—						(812)
Equity in earnings of unconsolidated affiliates						—						—						6						—						—						—						6
Other income, net						(1)						(1)						6						(6)						7						—						5
Interest expense						—						—						—						—						(213)						—						(213)
(Loss)/income before income taxes						(1,055)						90						155						37						(241)						—						(1,014)
Income tax benefit						—						—						—						—						(247)						—						(247)
Net (loss)/income						$	(1,055)					$	90					$	155					$	37					$	6					$	—					$	(767)
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues						$	5					$	—					$	5					$	—					$	—					$	—					$	10
Other segment information
Capital expenditures						$	87					$	2					$	3					$	8					$	14					$	—					$	114

						Nine months ended September 30, 2025
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Revenue(a)						$	8,661					$	10,344					$	2,489					$	1,530					$	—					$	(64)					$	22,960
Operating expenses						7,383						9,756						2,258						947						95						(64)						20,375
Depreciation and amortization						271						110						34						582						33						—						1,030
Total operating cost and expenses						7,654						9,866						2,292						1,529						128						(64)						21,405
Loss on sale of assets						—						—						(7)						—						—						—						(7)
Operating income/(loss)						1,007						478						190						1						(128)						—						1,548
Equity in earnings of unconsolidated affiliates						—						—						4						—						—						—						4
Other income, net						(1)						4						(1)						(6)						30						—						26
Loss on debt extinguishment						—						—						—						—						(10)						—						(10)
Interest expense						—						—						—						—						(498)						—						(498)
Income/(loss) before income taxes						1,006						482						193						(5)						(606)						—						1,070
Income tax expense						—						—						—						—						272						—						272
Net income/(loss)						$	1,006					$	482					$	193					$	(5)					$	(878)					$	—					$	798
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues						$	17					$	1					$	6					$	40					$	—					$	—					$	64
Other segment information
Capital expenditures						$	730					$	9					$	9					$	14					$	87					$	—					$	849

						Nine months ended September 30, 2024
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Revenue(a)						$	8,297					$	8,647					$	2,962					$	1,434					$	—					$	(29)					$	21,311
Operating expenses						7,791						7,410						2,992						761						65						(29)						18,990
Depreciation and amortization						240						117						96						561						31						—						1,045
Impairment losses						—						—						15						—						—						—						15
Total operating cost and expenses						8,031						7,527						3,103						1,322						96						(29)						20,050
(Loss)/gain on sale of assets						(4)						—						213						—						—						—						209
Operating income/(loss)						262						1,120						72						112						(96)						—						1,470
Equity in earnings of unconsolidated affiliates						—						—						13						—						—						—						13
Other income, net						(1)						(1)						5						(10)						45						—						38
Loss on debt extinguishment						—						—						—						—						(260)						—						(260)
Interest expense						—						—						—						—						(528)						—						(528)
Income/(loss) before income taxes						261						1,119						90						102						(839)						—						733
Income tax expense						—						—						—						—						251						—						251
Net income/(loss)						$	261					$	1,119					$	90					$	102					$	(1,090)					$	—					$	482
(a) Inter-segment sales and inter-segment net derivative gains and losses included in revenues						$	15					$	—					$	14					$	—					$	—					$	—					$	29
Other segment information
Capital expenditures						$	212					$	2					$	13					$	18					$	41					$	—					$	286

The following table summarizes balance sheet information by segment:

						As of September 30, 2025
(In millions)						Texas						East						West/Services/Other						Vivint Smart Home						Corporate						Eliminations						Total
Equity investments in affiliates						$	—					$	—					$	48					$	—					$	—					$	—					$	48
Goodwill						643						721						157						3,494						—						—						5,015
Total assets						9,545						8,965						2,622						6,667						16,714						(20,542)						23,971
						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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