Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of reconciliation of the beginning and ending balances of noncontrolling interest and distributions payable to the noncontrolling interests on the entity's consolidated balance sheet

A reconciliation of the beginning and ending balances of noncontrolling interests and distributions payable to noncontrolling interests on our consolidated balance sheets is provided below.


	Year ended December 31,
	2025						2024		2023
	CFN		Blue Point		Total		CFN		CFN
	(in millions)
Noncontrolling interests:
Balance as of January 1	$	2,607	$	—	$	2,607	$	2,656	$	2,802
Issuance of noncontrolling interests in Blue Point Number One, LLC	—		291		291		—		—
Earnings attributable to noncontrolling interests	341		2		343		259		313
Declaration of distributions payable	(304)		—		(304)		(308)		(459)



Balance as of December 31	$	2,644	$	293	$	2,937	$	2,607	$	2,656
Distributions payable to noncontrolling interests:
Balance as of January 1	$	—	$	—	$	—	$	—	$	—
Declaration of distributions payable	304		—		304		308		459
Distributions to noncontrolling interests	(304)		—		(304)		(308)		(459)

Balance as of December 31	$	—	$	—	$	—	$	—	$	—

Schedule of Variable Interest Entities

The table below summarizes the assets and liabilities of the Blue Point joint venture included in our consolidated balance sheet as of December 31, 2025:


		December 31, 2025
	(in millions)
Assets

Cash and cash equivalents		$	130


Other current assets		1
Property, plant and equipment—net		361


Other assets		1
Total assets		$	493
Liabilities

Accounts payable and accrued expenses		$	52


Other liabilities		1
Total liabilities		$	53

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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