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Segment Reporting | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company’s segment structure reflects how management currently operates and allocates resources. The Company’s businesses are segregated based on Flexible Generation and Renewables & Storage businesses, which consist of solar, wind and battery energy storage system, or BESS, facilities. The Corporate segment reflects the Company’s corporate costs and includes eliminating entries. The Company’s chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on net income (loss). The Company’s Chief Executive Officer reviews net income (loss) and its components on a monthly and quarterly basis to evaluate the performance of each segment and to determine how to allocate resources.
| Three months ended September 30, 2025
(In millions) | Flexible Generation |  | Renewables & Storage |  | Corporate (a) |  | Total
Operating revenues | $ | 106 |  |  | $ | 323 |  |  | $ | — |  |  | $ | 429 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 31 |  |  | 97 |  |  | — |  |  | 128 |
Depreciation, amortization and accretion | 28 |  |  | 148 |  |  | — |  |  | 176 |
General and administrative | — |  |  | — |  |  | 10 |  |  | 10 |
Transaction and integration costs | — |  |  | — |  |  | 3 |  |  | 3 |
Operating income (loss) | 47 |  |  | 78 |  |  | (13) |  |  | 112 |
Equity in earnings of unconsolidated affiliates | — |  |  | 15 |  |  | — |  |  | 15 |
Other income, net | 1 |  |  | 6 |  |  | — |  |  | 7 |
Loss on debt extinguishment | — |  |  | (7) |  |  | — |  |  | (7) |
Interest expense | (9) |  |  | (61) |  |  | (28) |  |  | (98) |
Income (loss) before income taxes | 39 |  |  | 31 |  |  | (41) |  |  | 29 |
Income tax benefit | — |  |  | — |  |  | (31) |  |  | (31) |
Net Income (Loss) | 39 |  |  | 31 |  |  | (10) |  |  | 60 |
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (322) |  |  | 146 |  |  | (176) |
Net Income (Loss) Attributable to Clearway Energy, Inc. | $ | 39 |  |  | $ | 353 |  |  | $ | (156) |  |  | $ | 236 |
Balance Sheet |  |  |  |  |  |  |
Equity investments in affiliates | $ | 72 |  |  | $ | 229 |  |  | $ | — |  |  | $ | 301 |
Capital expenditures (b) | 2 |  |  | 71 |  |  | — |  |  | 73 |
Total Assets | $ | 1,859 |  |  | $ | 14,123 |  |  | $ | 84 |  |  | $ | 16,066 |
(a) Includes eliminations. (b) Includes accruals.
| Three months ended September 30, 2024
(In millions) | Flexible Generation |  | Renewables & Storage |  | Corporate (a) |  | Total
Operating revenues | $ | 102 |  |  | $ | 384 |  |  | $ | — |  |  | $ | 486 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 41 |  |  | 95 |  |  | (1) |  |  | 135 |
Depreciation, amortization and accretion | 29 |  |  | 135 |  |  | — |  |  | 164 |
General and administrative | — |  |  | — |  |  | 9 |  |  | 9 |
Operating income (loss) | 32 |  |  | 154 |  |  | (8) |  |  | 178 |
Equity in earnings of unconsolidated affiliates | 1 |  |  | 12 |  |  | — |  |  | 13 |
Other income, net | 1 |  |  | 6 |  |  | 1 |  |  | 8 |
Interest expense | (9) |  |  | (106) |  |  | (24) |  |  | (139) |
Income (loss) before income taxes | 25 |  |  | 66 |  |  | (31) |  |  | 60 |
Income tax expense | — |  |  | — |  |  | 33 |  |  | 33 |
Net Income (Loss) | 25 |  |  | 66 |  |  | (64) |  |  | 27 |
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (58) |  |  | 49 |  |  | (9) |
Net Income (Loss) Attributable to Clearway Energy, Inc. | $ | 25 |  |  | $ | 124 |  |  | $ | (113) |  |  | $ | 36 |
Balance Sheet |  |  |  |  |  |  |
Equity investments in affiliates | $ | 75 |  |  | $ | 247 |  |  | $ | — |  |  | $ | 322 |
Capital expenditures (b) | 1 |  |  | 24 |  |  | — |  |  | 25 |
(a) Includes eliminations. (b) Includes accruals.
| Nine months ended September 30, 2025
(In millions) | Flexible Generation |  | Renewables & Storage |  | Corporate (a) |  | Total
Operating revenues | $ | 224 |  |  | $ | 895 |  |  | $ | — |  |  | $ | 1,119 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 86 |  |  | 295 |  |  | — |  |  | 381 |
Depreciation, amortization and accretion | 84 |  |  | 418 |  |  | — |  |  | 502 |
General and administrative | — |  |  | — |  |  | 31 |  |  | 31 |
Transaction and integration costs | — |  |  | — |  |  | 8 |  |  | 8 |
Operating income (loss) | 54 |  |  | 182 |  |  | (39) |  |  | 197 |
Equity in earnings of unconsolidated affiliates | — |  |  | 27 |  |  | — |  |  | 27 |
Other income, net | 3 |  |  | 17 |  |  | 2 |  |  | 22 |
Loss on debt extinguishment | — |  |  | (7) |  |  | — |  |  | (7) |
Interest expense | (27) |  |  | (195) |  |  | (75) |  |  | (297) |
Income (loss) before income taxes | 30 |  |  | 24 |  |  | (112) |  |  | (58) |
Income tax benefit | — |  |  | — |  |  | (26) |  |  | (26) |
Net Income (Loss) | 30 |  |  | 24 |  |  | (86) |  |  | (32) |
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (483) |  |  | 178 |  |  | (305) |
Net Income (Loss) Attributable to Clearway Energy, Inc. | $ | 30 |  |  | $ | 507 |  |  | $ | (264) |  |  | $ | 273 |
Balance Sheet |  |  |  |  |  |  |
Capital expenditures (b) | $ | 4 |  |  | $ | 158 |  |  | $ | — |  |  | $ | 162 |
(a) Includes eliminations. (b) Includes accruals.
| Nine months ended September 30, 2024
(In millions) | Flexible Generation |  | Renewables & Storage |  | Corporate (a) |  | Total
Operating revenues | $ | 266 |  |  | $ | 849 |  |  | $ | — |  |  | $ | 1,115 |
Cost of operations, exclusive of depreciation, amortization and accretion shown separately below | 109 |  |  | 271 |  |  | (2) |  |  | 378 |
Depreciation, amortization and accretion | 88 |  |  | 383 |  |  | — |  |  | 471 |
General and administrative | — |  |  | — |  |  | 29 |  |  | 29 |
Transaction and integration costs | — |  |  | — |  |  | 4 |  |  | 4 |
Operating income (loss) | 69 |  |  | 195 |  |  | (31) |  |  | 233 |
Equity in earnings of unconsolidated affiliates | 2 |  |  | 31 |  |  | — |  |  | 33 |
Other income, net | 4 |  |  | 23 |  |  | 9 |  |  | 36 |
Loss on debt extinguishment | — |  |  | (3) |  |  | — |  |  | (3) |
Interest expense | (25) |  |  | (186) |  |  | (73) |  |  | (284) |
Income (loss) before income taxes | 50 |  |  | 60 |  |  | (95) |  |  | 15 |
Income tax expense | — |  |  | — |  |  | 30 |  |  | 30 |
Net Income (Loss) | 50 |  |  | 60 |  |  | (125) |  |  | (15) |
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests | — |  |  | (183) |  |  | 83 |  |  | (100) |
Net Income (Loss) Attributable to Clearway Energy, Inc. | $ | 50 |  |  | $ | 243 |  |  | $ | (208) |  |  | $ | 85 |
Balance Sheet |  |  |  |  |  |  |
Capital expenditures (b) | $ | 7 |  |  | $ | 129 |  |  | $ | — |  |  | $ | 136 |
(a) Includes eliminations. (b) Includes accruals

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- Definition The entire disclosure for reporting segments including data and tables. 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