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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following table summarizes the carrying amount of goodwill by reportable segment for the years ended December 31, 2024 and 2023 (in millions):
| Renewables SBU |  | Utilities SBU |  | Energy Infrastructure SBU |  | New Energy Technologies SBU |  | Total
Balance as of December 31, 2023 |  |  |  |  |  |  |  |  |
Goodwill | $ | 353 |  |  | $ | 2,709 |  |  | $ | 683 |  |  | $ | 3 |  |  | $ | 3,748 |
Accumulated impairment losses | (35) |  |  | (2,709) |  |  | (656) |  |  | — |  |  | (3,400) |
Net balance | 318 |  |  | — |  |  | 27 |  |  | 3 |  |  | 348 |
Goodwill derecognized due to disposal of a business | — |  |  | — |  |  | — |  |  | (3) |  |  | (3) |
Balance as of December 31, 2024 |  |  |  |  |  |  |  |  |
Goodwill | 353 |  |  | 2,709 |  |  | 683 |  |  | — |  |  | 3,745 |
Accumulated impairment losses | (35) |  |  | (2,709) |  |  | (656) |  |  | — |  |  | (3,400) |
Net balance | $ | 318 |  |  | $ | — |  |  | $ | 27 |  |  | $ | — |  |  | $ | 345 |
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets | The following table summarizes the balances comprising Other intangible assets in the accompanying Consolidated Balance Sheets (in millions) as of the dates indicated:
| December 31, 2024 |  | December 31, 2023
| Gross Balance |  | Accumulated Amortization |  | Net Balance |  | Gross Balance |  | Accumulated Amortization |  | Net Balance
Subject to Amortization |  |  |  |  |  |  |  |  |  |  |
Internal-use software | $ | 794 |  |  | $ | (333) |  |  | $ | 461 |  |  | $ | 696 |  |  | $ | (324) |  |  | $ | 372 |
Contracts | 68 |  |  | (29) |  |  | 39 |  |  | 337 |  |  | (37) |  |  | 300 |
Project development (1) | 1,328 |  |  | (37) |  |  | 1,291 |  |  | 1,222 |  |  | (43) |  |  | 1,179 |
Emissions allowances (2) | 1 |  |  | — |  |  | 1 |  |  | 50 |  |  | — |  |  | 50 |
Concession rights | 19 |  |  | (19) |  |  | — |  |  | 222 |  |  | (71) |  |  | 151 |
Land use rights | 108 |  |  | (3) |  |  | 105 |  |  | 119 |  |  | (3) |  |  | 116 |
Other (3) | 28 |  |  | (5) |  |  | 23 |  |  | 45 |  |  | (20) |  |  | 25 |
Subtotal | 2,346 |  |  | (426) |  |  | 1,920 |  |  | 2,691 |  |  | (498) |  |  | 2,193 |
Indefinite-Lived Intangible Assets |  |  |  |  |  |  |  |  |  |  |
Land use rights | 8 |  |  | — |  |  | 8 |  |  | 22 |  |  | — |  |  | 22 |
Transmission rights | 17 |  |  | — |  |  | 17 |  |  | 20 |  |  | — |  |  | 20 |
Other | 2 |  |  | — |  |  | 2 |  |  | 8 |  |  | — |  |  | 8 |
Subtotal | 27 |  |  | — |  |  | 27 |  |  | 50 |  |  | — |  |  | 50 |
Total | $ | 2,373 |  |  | $ | (426) |  |  | $ | 1,947 |  |  | $ | 2,741 |  |  | $ | (498) |  |  | $ | 2,243 |
_____________________________ (1)Includes emission offset fee to the Air Quality Management District in order to transfer emission offsets from retired legacy Southland units to the new CCGT. (2)Acquired or purchased emissions allowances are finite-lived intangible assets that are expensed when utilized and included in net income for the year. (3)Includes management rights, renewable energy credits and incentives, and other individually insignificant intangible assets.
Schedule of Acquired Intangible Assets By Major Class | The following tables summarize other intangible assets acquired during the periods indicated (in millions):
December 31, 2024 | Amount |  | Subject to Amortization/Indefinite-Lived |  | Weighted Average Amortization Period (in years) |  | Amortization Method
Internal-use software | $ | 114 |  |  | Subject to Amortization |  | 11 |  | Straight-line
Project development | 134 |  |  | Subject to Amortization |  | 40 |  | Straight-line
Emissions allowances | 8 |  |  | Subject to Amortization |  | Various |  | As utilized
Land use rights | 2 |  |  | Various |  | N/A |  | Various
Other | 8 |  |  | Various |  | N/A |  | N/A
Total | $ | 266 |  |  |  |  |  |  |
December 31, 2023 | Amount |  | Subject to Amortization/Indefinite-Lived |  | Weighted Average Amortization Period (in years) |  | Amortization Method
Internal-use software | $ | 159 |  |  | Subject to Amortization |  | 15 |  | Straight-line
Contracts | 12 |  |  | Subject to Amortization |  | 21 |  | Straight-line
Project development | 242 |  |  | Subject to Amortization |  | 39 |  | Straight-line
Emissions allowances | 23 |  |  | Subject to Amortization |  | Various |  | As utilized
Land use rights | 91 |  |  | Various |  | N/A |  | Various
Other | 9 |  |  | Various |  | N/A |  | N/A
Total | $ | 536 |  |  |  |  |  |  |
Schedule of Expected Amortization Expense | The following table summarizes the estimated amortization expense by intangible asset category for 2025 through 2029:
(in millions) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
Internal-use software | $ | 58 |  |  | $ | 55 |  |  | $ | 52 |  |  | $ | 49 |  |  | $ | 47 |
Contracts | 2 |  |  | 2 |  |  | 2 |  |  | 2 |  |  | 2 |
Project development | 14 |  |  | 16 |  |  | 16 |  |  | 16 |  |  | 16 |
Other | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 3 |
Total | $ | 77 |  |  | $ | 76 |  |  | $ | 73 |  |  | $ | 70 |  |  | $ | 68 |

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