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Leases Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Lessee, Operating Leases [Text Block] | LESSEE — The following table summarizes the amounts recognized on the Consolidated Balance Sheets related to lease asset and liability balances as of the dates indicated (in millions):
|  | Consolidated Balance Sheet Classification |  | December 31, 2024 |  |  | December 31, 2023
Assets |  |  |  |  |  |  |
Right-of-use assets — finance leases |  | Property, plant and equipment, net |  | $ | 547 |  |  |  | $ | 250 |
Right-of-use assets — operating leases |  | Other noncurrent assets |  | 372 |  |  |  | 380 |
Total right-of-use assets |  |  |  | $ | 919 |  |  |  | $ | 630 |
Liabilities |  |  |  |  |  |  |
Finance lease liabilities (current) |  | Non-recourse debt (current liabilities) |  | $ | 18 |  |  |  | $ | 8 |
Finance lease liabilities (noncurrent) |  | Non-recourse debt (noncurrent liabilities) |  | 553 |  |  |  | 262 |
Total finance lease liabilities |  |  |  | 571 |  |  |  | 270 |
Operating lease liabilities (current) |  | Accrued and other liabilities |  | 26 |  |  |  | 37 |
Operating lease liabilities (noncurrent) |  | Other noncurrent liabilities |  | 392 |  |  |  | 387 |
Total operating lease liabilities |  |  |  | 418 |  |  |  | 424 |
Total lease liabilities |  |  |  | $ | 989 |  |  |  | $ | 694 |
The following table summarizes supplemental balance sheet information related to leases as of the dates indicated:
Lease Term and Discount Rate | December 31, 2024 |  | December 31, 2023
Weighted-average remaining lease term — finance leases | 36 years |  | 34 years
Weighted-average remaining lease term — operating leases | 27 years |  | 27 years
Weighted-average discount rate — finance leases | 5.38 | % |  | 5.36 | %
Weighted-average discount rate — operating leases | 7.25 | % |  | 7.70 | %
The following table summarizes the components of lease cost recognized in Cost of Sales on the Consolidated Statements of Operations for the periods indicated (in millions):
| Years Ended December 31, |  |
Components of Lease Cost | 2024 |  | 2023 |  |
Operating lease cost | $ | 56 |  |  | $ | 52 |  |  |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use assets | 13 |  |  | 7 |  |  |
Interest on lease liabilities | 22 |  |  | 10 |  |  |
Short-term lease costs | 18 |  |  | 16 |  |  |
Total lease cost | $ | 109 |  |  | $ | 85 |  |  |
Operating cash outflows from operating leases included in the measurement of lease liabilities were $59 million and $54 million for the years ended December 31, 2024 and 2023, respectively, and operating cash outflows from finance leases were $7 million and $5 million for the years ended December 31, 2024 and 2023, respectively. Right-of-use assets obtained in exchange for new operating and finance lease liabilities were $129 million and $327 million, respectively, for the year ended December 31, 2024, and $129 million and $96 million, respectively, for the year ended December 31, 2023. The following table shows the future lease payments under operating and finance leases for continuing operations together with the present value of the net lease payments as of December 31, 2024 for 2025 through 2029 and thereafter (in millions):
| Maturity of Lease Liabilities
| Finance Leases |  | Operating Leases
2025 | $ | 28 |  |  | $ | 48 |
2026 | 28 |  |  | 52 |
2027 | 29 |  |  | 50 |
2028 | 29 |  |  | 47 |
2029 | 30 |  |  | 45 |
Thereafter | 1,153 |  |  | 1,167 |
Total | 1,297 |  |  | 1,409 |
Less: Imputed interest | (726) |  |  | (991) |
Present value of lease payments | $ | 571 |  |  | $ | 418 |
Lessor, Operating Leases [Text Block] | LESSOR — The Company has operating leases for certain generation contracts that contain provisions to provide capacity to a customer, which is a stand-ready obligation to deliver energy when required by the customer. Capacity payments are generally considered lease elements as they cover the majority of available output from a facility. The allocation of contract payments between the lease and non-lease elements is made at the inception of the lease. Lease payments from such contracts are recognized as lease revenue on a straight-line basis over the lease term, whereas variable lease payments are recognized when earned. The following table presents lease revenue from operating leases in which the Company is the lessor, recognized in Revenue on the Consolidated Statements of Operations for the periods indicated (in millions):
|  |  | Years Ended December 31,
Operating Lease Revenue |  |  |  |  | 2024 |  | 2023
Non-variable lease revenue |  |  |  |  | $ | 414 |  |  | $ | 425 |
Variable lease revenue |  |  |  |  | 61 |  |  | 65 |
Total lease revenue |  |  |  |  | $ | 475 |  |  | $ | 490 |
The following table presents the underlying gross assets and accumulated depreciation of operating leases included in Property, plant and equipment on the Consolidated Balance Sheets as of the dates indicated (in millions):
Property, Plant and Equipment, Net |  | December 31, 2024 |  | December 31, 2023
Gross assets |  | $ | 1,085 |  |  | $ | 1,227 |
Less: Accumulated depreciation |  | (218) |  |  | (182) |
Net assets |  | $ | 867 |  |  | $ | 1,045 |
The option to extend or terminate a lease is based on customary early termination provisions in the contract, such as payment defaults, bankruptcy, or lack of performance on energy delivery. The Company has not recognized any early terminations as of December 31, 2024. Certain leases may provide for variable lease payments based on usage or index-based (e.g., the U.S. Consumer Price Index) adjustments to lease payments. The following table shows the future lease receipts as of December 31, 2024 for 2025 through 2029 and thereafter (in millions):
| Future Cash Receipts for
| Sales-Type Leases |  | Operating Leases
2025 | $ | 44 |  |  | $ | 242 |
2026 | 44 |  |  | 136 |
2027 | 44 |  |  | 65 |
2028 | 44 |  |  | — |
2029 | 44 |  |  | — |
Thereafter | 604 |  |  | 1 |
Total | $ | 824 |  |  | $ | 444 |
Less: Imputed interest | (371) |  |  |
Present value of total lease receipts | $ | 453 |  |  |
Battery Storage Lease Arrangements — The Company constructs and operates projects consisting only of a stand-alone BESS facility, as well as projects that pair a BESS with solar energy systems. These projects allow more flexibility on when to provide energy to the grid. The Company will enter into PPAs for the full output of the facility that allow customers the ability to determine when to charge and discharge the BESS. These arrangements include both lease and non-lease elements under ASC 842, with the BESS component typically constituting a sales-type lease. The following table presents variable lease revenue, interest income, and gains (losses) on commencement of sales-type leases in which the Company is the lessor for the periods indicated (in millions):
|  |  | Years Ended December 31,
Sales-Type Leases |  |  |  |  | 2024 |  | 2023
Variable lease revenue |  |  |  |  | $ | 3 |  |  | $ | 3 |
Interest income |  |  |  |  | 19 |  |  | 13 |
Net gains (losses) on commencement of sales-types leases (1) |  |  |  |  | (67) |  |  | (20) |
_____________________________ (1)Gains and losses are recognized in Other income and Other expense, respectively, in the Consolidated Statement of Operations. See Note 22—Other Income and Expense for further information.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-30/tableOfContent + Details
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