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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment |
| Three months ended June 30, 2022 |  |  |  |
(In millions) | Conventional Generation |  | Renewables |  | Thermal (a) |  | Corporate (b) |  | Total |  |  |  |
Operating revenues | $ | 103 |  |  | $ | 247 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 368 |  |  |  |  |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 28 |  |  | 73 |  |  | 11 |  |  | — |  |  | 112 |  |  |  |  |
Depreciation, amortization and accretion | 33 |  |  | 93 |  |  | — |  |  | — |  |  | 126 |  |  |  |  |
General and administrative | — |  |  | — |  |  | 1 |  |  | 10 |  |  | 11 |  |  |  |  |
Transaction and integration costs | — |  |  | — |  |  | — |  |  | 3 |  |  | 3 |  |  |  |  |
Development costs | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  |  |  |
Total operating costs and expenses | 61 |  |  | 166 |  |  | 13 |  |  | 13 |  |  | 253 |  |  |  |  |
Gain on sale of business | — |  |  | — |  |  | — |  |  | 1,291 |  |  | 1,291 |  |  |  |  |
Operating income | 42 |  |  | 81 |  |  | 5 |  |  | 1,278 |  |  | 1,406 |  |  |  |  |
Equity in earnings of unconsolidated affiliates | 1 |  |  | 9 |  |  | — |  |  | — |  |  | 10 |  |  |  |  |
Other income, net | — |  |  | 4 |  |  | — |  |  | 1 |  |  | 5 |  |  |  |  |
Interest expense | (10) |  |  | (11) |  |  | (1) |  |  | (25) |  |  | (47) |  |  |  |  |
Income before income taxes | 33 |  |  | 83 |  |  | 4 |  |  | 1,254 |  |  | 1,374 |  |  |  |  |
Income tax expense | — |  |  | — |  |  | — |  |  | 225 |  |  | 225 |  |  |  |  |
Net Income | $ | 33 |  |  | $ | 83 |  |  | $ | 4 |  |  | $ | 1,029 |  |  | $ | 1,149 |  |  |  |  |
Total Assets (a) | 2,363 |  |  | 9,446 |  |  | — |  |  | 839 |  |  | 12,648 |  |  |  |  |
(a) The Thermal Business was sold on May 1, 2022. (b) Includes eliminations.
| Three months ended June 30, 2021
(In millions) | Conventional Generation |  | Renewables |  | Thermal |  | Corporate |  | Total
Operating revenues | $ | 109 |  |  | $ | 222 |  |  | $ | 49 |  |  | $ | — |  |  | $ | 380 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 23 |  |  | 54 |  |  | 31 |  |  | (1) |  |  | 107 |
Depreciation, amortization and accretion | 31 |  |  | 89 |  |  | 8 |  |  | — |  |  | 128 |
General and administrative | — |  |  | 1 |  |  | — |  |  | 9 |  |  | 10 |
Transaction and integration costs | — |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Development costs | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Operating income (loss) | 55 |  |  | 78 |  |  | 9 |  |  | (9) |  |  | 133 |
Equity in earnings of unconsolidated affiliates | 2 |  |  | 6 |  |  | — |  |  | — |  |  | 8 |
Other (expense) income, net | (1) |  |  | 1 |  |  | 1 |  |  | — |  |  | 1 |
Interest expense | (16) |  |  | (58) |  |  | (4) |  |  | (25) |  |  | (103) |
Income (loss) before income taxes | 40 |  |  | 27 |  |  | 6 |  |  | (34) |  |  | 39 |
Income tax expense | — |  |  | — |  |  | — |  |  | 7 |  |  | 7 |
Net Income (Loss) | $ | 40 |  |  | $ | 27 |  |  | $ | 6 |  |  | $ | (41) |  |  | $ | 32 |
| Six months ended June 30, 2022
(In millions) | Conventional Generation |  | Renewables |  | Thermal (a) |  | Corporate (b) |  | Total
Operating revenues | $ | 211 |  |  | $ | 294 |  |  | $ | 77 |  |  | $ | — |  |  | $ | 582 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 49 |  |  | 141 |  |  | 50 |  |  | — |  |  | 240 |
Depreciation, amortization and accretion | 66 |  |  | 184 |  |  | — |  |  | — |  |  | 250 |
General and administrative | — |  |  | — |  |  | 2 |  |  | 21 |  |  | 23 |
Transaction and integration costs | — |  |  | — |  |  | — |  |  | 5 |  |  | 5 |
Development costs | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Total operating costs and expenses | 115 |  |  | 325 |  |  | 54 |  |  | 26 |  |  | 520 |
Gain on sale of business | — |  |  | — |  |  | — |  |  | 1,291 |  |  | 1,291 |
Operating income (loss) | 96 |  |  | (31) |  |  | 23 |  |  | 1,265 |  |  | 1,353 |
Equity in earnings of unconsolidated affiliates | 2 |  |  | 12 |  |  | — |  |  | — |  |  | 14 |
Other income, net | — |  |  | 4 |  |  | — |  |  | 1 |  |  | 5 |
Loss on debt extinguishment | — |  |  | (2) |  |  | — |  |  | — |  |  | (2) |
Interest expense | (18) |  |  | (19) |  |  | (6) |  |  | (51) |  |  | (94) |
Income (loss) before income taxes | 80 |  |  | (36) |  |  | 17 |  |  | 1,215 |  |  | 1,276 |
Income tax expense | — |  |  | — |  |  | — |  |  | 224 |  |  | 224 |
Net Income (Loss) | $ | 80 |  |  | $ | (36) |  |  | $ | 17 |  |  | $ | 991 |  |  | $ | 1,052 |
(a) The Thermal Business was sold on May 1, 2022. (b) Includes eliminations.
| Six months ended June 30, 2021
(In millions) | Conventional Generation |  | Renewables |  | Thermal |  | Corporate |  | Total
Operating revenues | $ | 211 |  |  | $ | 308 |  |  | $ | 98 |  |  | $ | — |  |  | $ | 617 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 50 |  |  | 106 |  |  | 62 |  |  | (1) |  |  | 217 |
Depreciation, amortization and accretion | 65 |  |  | 176 |  |  | 15 |  |  | — |  |  | 256 |
General and administrative | — |  |  | 1 |  |  | 1 |  |  | 18 |  |  | 20 |
Transaction and integration costs | — |  |  | — |  |  | — |  |  | 3 |  |  | 3 |
Development costs | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Operating income (loss) | 96 |  |  | 25 |  |  | 18 |  |  | (20) |  |  | 119 |
Equity in earnings of unconsolidated affiliates | 4 |  |  | 8 |  |  | — |  |  | — |  |  | 12 |
Other income, net | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 2 |
Loss on debt extinguishment | — |  |  | (1) |  |  | — |  |  | (41) |  |  | (42) |
Interest expense | (27) |  |  | (62) |  |  | (9) |  |  | (50) |  |  | (148) |
Income (loss) before income taxes | 73 |  |  | (29) |  |  | 10 |  |  | (111) |  |  | (57) |
Income tax benefit | — |  |  | — |  |  | — |  |  | (13) |  |  | (13) |
Net Income (Loss) | $ | 73 |  |  | $ | (29) |  |  | $ | 10 |  |  | $ | (98) |  |  | $ | (44) |

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