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Segments (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Revenue By Segment Table

The following tables present financial information by segment for the periods indicated (in millions):

			Three Months Ended March 31, 2025
			Renewables SBU						Utilities SBU						Energy Infrastructure SBU						New Energy Technologies SBU						Total
Revenue			$	666					$	1,009					$	1,320					$	—					$	2,995
Corporate and other																											36
Eliminations																											(105)
Total Revenue																											$	2,926
Less:
Total cost of sales excluding depreciation, amortization, and accretion of AROs (1)			466						730						1,050						(1)
Other segment items (2)			39						56						16						26
Segment Adjusted EBITDA			$	161					$	223					$	254					$	(25)					$	613
Reconciliation to income from continuing operations before taxes
Corporate and other																											(24)
Eliminations																											2
Interest expense																											(342)
Interest income																											69
Depreciation, amortization, and accretion of AROs																											(337)
Adjusted for:
Noncontrolling interests and redeemable stock of subsidiaries																											134
Income tax expense (benefit), interest expense (income), and depreciation, amortization, and accretion of AROs from equity affiliates																											(36)
Interest income recognized under service concession arrangements																											(15)
Unrealized derivative and equity securities gains																											1
Unrealized foreign currency losses																											7
Disposition/acquisition losses																											(41)
Impairment losses																											(33)
Loss on extinguishment of debt																											(8)
Restructuring costs																											(46)
Income from continuing operations before taxes																											$	(56)

_____________________________

(1)Segment-level total cost of sales excluding depreciation, amortization, and accretion of AROs is considered regularly provided to the chief operating decision maker. Total cost of sales excluding depreciation, amortization, and accretion of AROs includes items such as fuel cost, electricity purchases, transmission charges, supplies, salaries and wages, consulting costs, IT costs, market fees, insurance, and lease expense.

(2)Other segment items for each reportable segment includes:

Renewables SBU — business development costs, miscellaneous gains and losses in Other income and Other expense, realized foreign currency gains and losses, earnings from equity affiliates, and adjustment for noncontrolling interest expense.

Utilities SBU — miscellaneous gains and losses in Other income and Other expense, earnings from equity affiliates, and adjustment for noncontrolling interest expense.

Energy Infrastructure SBU — business development costs, miscellaneous gains and losses in Other income and Other expense, realized foreign currency gains and losses, earnings from equity affiliates, and adjustment for noncontrolling interest expense.

New Energy Technologies SBU — earnings from equity affiliates, and miscellaneous gains and losses in Other income and Other expense.

			Three Months Ended March 31, 2024
			Renewables SBU						Utilities SBU						Energy Infrastructure SBU						New Energy Technologies SBU						Total
Revenue			$	643					$	873					$	1,609					$	—					$	3,125
Corporate and other																											33
Eliminations																											(73)
Total Revenue																											$	3,085
Less:
Total cost of sales excluding depreciation, amortization, and accretion of AROs (1)			459						642						1,132						1
Other segment items (2)			73						49						121						16
Segment Adjusted EBITDA			$	111					$	182					$	356					$	(17)					$	632
Reconciliation to income from continuing operations before taxes
Corporate and other																											8
Eliminations																											—
Interest expense																											(357)
Interest income																											105
Depreciation, amortization, and accretion of AROs																											(318)
Adjusted for:
Noncontrolling interests and redeemable stock of subsidiaries																											164
Income tax expense (benefit), interest expense (income), and depreciation, amortization, and accretion of AROs from equity affiliates																											(34)
Interest income recognized under service concession arrangements																											(17)
Unrealized derivative and equity securities gains																											85
Unrealized foreign currency losses																											9
Disposition/acquisition losses																											43
Impairment losses																											(26)
Loss on extinguishment of debt																											(32)
Income from continuing operations before taxes																											$	262

_____________________________

(1)Segment-level total cost of sales excluding depreciation, amortization, and accretion of AROs is considered regularly provided to the chief operating decision maker. Total cost of sales excluding depreciation, amortization, and accretion of AROs includes items such as fuel cost, electricity purchases, transmission charges, supplies, salaries and wages, consulting costs, IT costs, market fees, insurance, and lease expense.

(2)Other segment items for each reportable segment includes:

Renewables SBU — business development costs, miscellaneous gains and losses in Other income and Other expense, realized foreign currency gains and losses, earnings from equity affiliates, and adjustment for noncontrolling interest expense.

Utilities SBU — miscellaneous gains and losses in Other income and Other expense, earnings from equity affiliates, and adjustment for noncontrolling interest expense.

Energy Infrastructure SBU — business development costs, miscellaneous gains and losses in Other income and Other expense, realized foreign currency gains and losses, earnings from equity affiliates, and adjustment for noncontrolling interest expense.

New Energy Technologies SBU — earnings from equity affiliates, and miscellaneous gains and losses in Other income and Other expense.

The Company uses long-lived assets as its measure of segment assets. Long-lived assets include amounts recorded in Property, plant and equipment, net and right-of-use assets for operating leases recorded in Other noncurrent assets on the Condensed Consolidated Balance Sheets.

Long-Lived Assets			March 31, 2025						December 31, 2024
Renewables SBU			$	20,576					$	19,151
Utilities SBU			8,658						8,535
Energy Infrastructure SBU			5,120						5,805
New Energy Technologies SBU			23						22
Corporate and Other			24						25
Long-Lived Assets			34,401						33,538
Current assets			7,878						6,831
Investments in and advances to affiliates			1,129						1,124
Debt service reserves and other deposits			78						78
Goodwill			345						345
Other intangible assets			1,943						1,947
Deferred income taxes			371						365
Other noncurrent assets, excluding right-of-use assets for operating leases			2,470						2,545
Noncurrent held-for-sale assets			—						633
Total Assets			$	48,615					$	47,406

			Depreciation, Amortization, and Accretion of AROs												Capital Expenditures
Three Months Ended March 31,			2025						2024						2025						2024
Renewables SBU			$	129					$	121					$	970					$	1,528
Utilities SBU			124						111						260						448
Energy Infrastructure SBU			81						84						28						165
New Energy Technologies SBU			—						—						1						2
Corporate and Other			3						2						2						12
Total			$	337					$	318					$	1,261					$	2,155

			Interest Income												Interest Expense												Net Equity in Earnings (Losses) of Affiliates
Three Months Ended March 31,			2025						2024						2025						2024						2025						2024
Renewables SBU			$	21					$	31					$	131					$	92					$	(9)					$	1
Utilities SBU			2						3						77						73						2						1
Energy Infrastructure SBU			41						65						74						134						4						3
New Energy Technologies SBU			2						1						—						—						(27)						(17)
Corporate and Other			3						5						60						58						(4)						(3)
Total			$	69					$	105					$	342					$	357					$	(34)					$	(15)

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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X

- References

No definition available.

+ Details

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