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Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
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 balance318 — 27 3 348 
Goodwill derecognized due to disposal of a business— — — (3)(3)
Balance as of December 31, 2024
Goodwill353 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, 2024December 31, 2023
Gross BalanceAccumulated AmortizationNet BalanceGross BalanceAccumulated AmortizationNet Balance
Subject to Amortization
Internal-use software$794 $(333)$461 $696 $(324)$372 
Contracts68 (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 rights19 (19)— 222 (71)151 
Land use rights108 (3)105 119 (3)116 
Other (3)
28 (5)23 45 (20)25 
Subtotal2,346 (426)1,920 2,691 (498)2,193 
Indefinite-Lived Intangible Assets
Land use rights8 — 8 22 — 22 
Transmission rights17 — 17 20 — 20 
Other2 — 2 8 — 8 
Subtotal27 — 27 50 — 50 
Total$2,373 $(426)$1,947 $2,741 $(498)$2,243 
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(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, 2024AmountSubject to Amortization/Indefinite-LivedWeighted Average Amortization Period (in years)Amortization Method
Internal-use software$114 Subject to Amortization11Straight-line
Project development134 Subject to Amortization40Straight-line
Emissions allowances8 Subject to AmortizationVariousAs utilized
Land use rights2 VariousN/AVarious
Other8 VariousN/AN/A
Total$266 
December 31, 2023Amount Subject to Amortization/Indefinite-LivedWeighted Average Amortization Period (in years)Amortization Method
Internal-use software$159 Subject to Amortization15Straight-line
Contracts12 Subject to Amortization21Straight-line
Project development242 Subject to Amortization39Straight-line
Emissions allowances23 Subject to AmortizationVariousAs utilized
Land use rights91 VariousN/AVarious
Other9 VariousN/AN/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)20252026202720282029
Internal-use software$58 $55 $52 $49 $47 
Contracts2 2 2 2 2 
Project development14 16 16 16 16 
Other3 3 3 3 3 
Total$77 $76 $73 $70 $68