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CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Condensed Financial Statements | Condensed Consolidating Balance Sheets As of December 31, 2024 and 2023
| As of December 31, 2024
| Parent |  | Combined Unrestricted Subsidiaries |  | Combined Restricted Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Total current assets | $ | 437 |  |  | $ | 46 |  |  | $ | 541 |  |  | $ | — |  |  | $ | 1,024 |
Total property, plant and equipment, net | 14 |  |  | 31 |  |  | 5,635 |  |  | — |  |  | 5,680 |
Investments in consolidated subsidiaries | 4,869 |  |  | (32) |  |  | 15,050 |  |  | (19,887) |  |  | — |
Deferred tax asset | 73 |  |  | — |  |  | — |  |  | — |  |  | 73 |
Investment in unconsolidated subsidiaries | — |  |  | 27 |  |  | 59 |  |  | — |  |  | 86 |
Other assets | 113 |  |  | 58 |  |  | 101 |  |  | — |  |  | 272 |
TOTAL ASSETS | $ | 5,506 |  |  | $ | 130 |  |  | $ | 21,386 |  |  | $ | (19,887) |  |  | $ | 7,135 |
Total current liabilities | 224 |  |  | 14 |  |  | 742 |  |  | — |  |  | $ | 980 |
Long-term debt | 1,132 |  |  | — |  |  | — |  |  | — |  |  | 1,132 |
Asset retirement obligations | — |  |  | — |  |  | 995 |  |  | — |  |  | 995 |
Other long-term liabilities | 114 |  |  | 138 |  |  | 125 |  |  | — |  |  | 377 |
Amounts due to (from) affiliates | 385 |  |  | — |  |  | (385) |  |  | — |  |  | — |
Deferred tax liability | 113 |  |  | — |  |  | — |  |  | — |  |  | 113 |
Total equity | 3,538 |  |  | (22) |  |  | 19,909 |  |  | (19,887) |  |  | 3,538 |
TOTAL LIABILITIES AND EQUITY | $ | 5,506 |  |  | $ | 130 |  |  | $ | 21,386 |  |  | $ | (19,887) |  |  | $ | 7,135 |
| As of December 31, 2023
| Parent |  | Combined Unrestricted Subsidiaries |  | Combined Restricted Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Total current assets | $ | 511 |  |  | $ | 20 |  |  | $ | 398 |  |  | $ | — |  |  | $ | 929 |
Total property, plant and equipment, net | 14 |  |  | 12 |  |  | 2,744 |  |  | — |  |  | 2,770 |
Investments in consolidated subsidiaries | 2,311 |  |  | (11) |  |  | 1,347 |  |  | (3,647) |  |  | — |
Deferred tax asset | 132 |  |  | — |  |  | — |  |  | — |  |  | 132 |
Investment in unconsolidated subsidiary | — |  |  | 19 |  |  | — |  |  | — |  |  | 19 |
Other assets | 12 |  |  | 36 |  |  | 100 |  |  | — |  |  | 148 |
TOTAL ASSETS | $ | 2,980 |  |  | $ | 76 |  |  | $ | 4,589 |  |  | $ | (3,647) |  |  | $ | 3,998 |
Total current liabilities | 142 |  |  | 13 |  |  | 461 |  |  | — |  |  | $ | 616 |
Long-term debt | 540 |  |  | — |  |  | — |  |  | — |  |  | 540 |
Asset retirement obligations | — |  |  | — |  |  | 422 |  |  | — |  |  | 422 |
Other long-term liabilities | 79 |  |  | 73 |  |  | 49 |  |  | — |  |  | 201 |
Total equity | 2,219 |  |  | (10) |  |  | 3,657 |  |  | (3,647) |  |  | 2,219 |
TOTAL LIABILITIES AND EQUITY | $ | 2,980 |  |  | $ | 76 |  |  | $ | 4,589 |  |  | $ | (3,647) |  |  | $ | 3,998 |
Condensed Consolidating Statement of Operations For the years ended December 31, 2024, 2023 and 2022
| Year ended December 31, 2024
| Parent |  | Combined Unrestricted Subsidiaries |  | Combined Restricted Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Total revenues | $ | 18 |  |  | $ | — |  |  | $ | 3,345 |  |  | $ | (165) |  |  | $ | 3,198 |
Total costs and other | 290 |  |  | 66 |  |  | 2,398 |  |  | (165) |  |  | 2,589 |
Gain on asset divestitures | — |  |  | — |  |  | 11 |  |  | — |  |  | 11 |
Non-operating (loss) income | (92) |  |  | (21) |  |  | 9 |  |  | — |  |  | (104) |
(LOSS) INCOME BEFORE INCOME TAXES | (364) |  |  | (87) |  |  | 967 |  |  | — |  |  | 516 |
Income tax provision | (140) |  |  | — |  |  | — |  |  | — |  |  | (140) |
NET (LOSS) INCOME | $ | (504) |  |  | $ | (87) |  |  | $ | 967 |  |  | $ | — |  |  | $ | 376 |
| Year ended December 31, 2023
| Parent |  | Combined Unrestricted Subsidiaries |  | Combined Restricted Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Total revenues | $ | 21 |  |  | $ | — |  |  | $ | 2,780 |  |  | $ | — |  |  | $ | 2,801 |
Total costs and other | 239 |  |  | 49 |  |  | 1,737 |  |  | — |  |  | 2,025 |
Gain on asset divestitures | — |  |  | — |  |  | 32 |  |  | — |  |  | 32 |
Non-operating (loss) income | (51) |  |  | (14) |  |  | 5 |  |  | — |  |  | (60) |
(LOSS) INCOME BEFORE INCOME TAXES | (269) |  |  | (63) |  |  | 1,080 |  |  | — |  |  | 748 |
Income tax provision | (184) |  |  | — |  |  | — |  |  | — |  |  | (184) |
NET (LOSS) INCOME | $ | (453) |  |  | $ | (63) |  |  | $ | 1,080 |  |  | $ | — |  |  | $ | 564 |
| Year ended December 31, 2022
| Parent |  | Combined Unrestricted Subsidiaries |  | Combined Restricted Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Total revenues | $ | 4 |  |  | $ | — |  |  | $ | 2,703 |  |  | $ | — |  |  | $ | 2,707 |
Total costs and other | 177 |  |  | 37 |  |  | 1,740 |  |  | — |  |  | 1,954 |
Gain on asset divestitures | — |  |  | — |  |  | 59 |  |  | — |  |  | 59 |
Non-operating (loss) income | (55) |  |  | (3) |  |  | 7 |  |  | — |  |  | (51) |
(LOSS) INCOME BEFORE INCOME TAXES | (228) |  |  | (40) |  |  | 1,029 |  |  | — |  |  | 761 |
Income tax provision | (237) |  |  | — |  |  | — |  |  | — |  |  | (237) |
NET (LOSS) INCOME | $ | (465) |  |  | $ | (40) |  |  | $ | 1,029 |  |  | $ | — |  |  | $ | 524 |

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- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
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