XML 41 R30.htm IDEA: XBRL DOCUMENT v3.19.2
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue from Contracts with Customer
Disaggregated Revenues     
The following tables represent the Company’s disaggregation of revenue from contracts with customers for the three and six months ended June 30, 2019 and 2018 along with the reportable segment for each category:
 
Three months ended June 30, 2019
 
 
 
Generation
 
 
 
 
(In millions)
Retail
 
Texas
 
East/West/Other
 
Subtotal
 
Corporate/Eliminations
 
Total
Energy revenue(a)(c)
$
—

 
$
497

 
$
117

 
$
614

 
$
(365
)
 
$
249

Capacity revenue(c)
—

 
—

 
154

 
154

 
1

 
155

Retail revenue
 
 
 
 
 
 
 
 
 
 
 
Mass customers
1,401

 
—

 
—

 
—

 
(1
)
 
1,400

Business Solutions customers
345

 
—

 
—

 
—

 
—

 
345

Total retail revenue
1,746

 
—

 
—

 
—

 
(1
)
 
1,745

Mark-to-market for economic hedging activities(a)(b)
2

 
460

 
64

 
524

 
(285
)
 
241

Other revenues(c)
—

 
16

 
59

 
75

 
—

 
75

Total operating revenue
1,748

 
973

 
394

 
1,367

 
(650
)
 
2,465

Less: Lease revenue
3

 
—

 
2

 
2

 
—

 
5

Less: Realized and unrealized ASC 815 revenue(a)
2

 
1,184

 
140

 
1,324

 
(649
)
 
677

Total revenue from contracts with customers
$
1,743

 
$
(211
)
 
$
252

 
$
41

 
$
(1
)
 
$
1,783

(a) Generation includes higher revenues due to the Company's large internal transfer of power based on average annualized market prices, which are offset by higher
       cost of operations within Retail
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
(c) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 which are included in the amounts above:
 
Retail
 
Texas
 
East/West/Other
 
Subtotal
 
Corporate/Eliminations
 
Total
Energy revenue
$
—

 
$
717

 
$
42

 
$
759

 
$
(365
)
 
$
394

Capacity revenue
—

 
—

 
29

 
29

 
1

 
30

Other revenue
—

 
7

 
5

 
12

 
—

 
12

 
Three months ended June 30, 2018
 
 
 
Generation
 
 
 
 
(In millions)
Retail
 
Texas
 
East/West/Other
 
Subtotal
 
Corporate/Eliminations
 
Total
Energy revenue(a)(c)
$
—

 
$
402

 
$
259

 
$
661

 
$
(251
)
 
$
410

Capacity revenue(c)
—

 
—

 
165

 
165

 
—

 
165

Retail revenue
 
 
 
 
 
 
 
 
 
 
 
Mass customers
1,377

 
—

 
—

 
—

 
(1
)
 
1,376

Business Solutions customers
437

 
—

 
—

 
—

 
—

 
437

Total retail revenue
1,814

 
—

 
—

 
—

 
(1
)
 
1,813

Mark-to-market for economic hedging activities(a)(b)
—

 
296

 
(22
)
 
274

 
(264
)
 
10

Other revenues(c)
—

 
10

 
57

 
67

 
(4
)
 
63

Total operating revenue
1,814

 
708

 
459

 
1,167

 
(520
)
 
2,461

Less: Lease revenue
3

 
—

 
2

 
2

 
—

 
5

Less: Realized and unrealized ASC 815 revenue(a)
—

 
865

 
48

 
913

 
(511
)
 
402

Total revenue from contracts with customers
$
1,811

 
$
(157
)
 
$
409

 
$
252

 
$
(9
)
 
$
2,054

(a) Generation includes higher revenues due to the Company's large internal transfer of power based on average annualized market prices, which are offset by higher
       cost of operations within Retail
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
(c) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 which are included in the amounts above:
 
Retail
 
Texas
 
East/West/Other
 
Subtotal
 
Corporate/Eliminations
 
Total
Energy revenue
$
—

 
$
569

 
$
26

 
$
595

 
$
(247
)
 
$
348

Capacity revenue
—

 
—

 
39

 
39

 
—

 
39

Other revenue
—

 
—

 
5

 
5

 
—

 
5


 
Six months ended June 30, 2019
 
 
 
Generation
 
 
 
 
(In millions)
Retail
 
Texas
 
East/West/Other
 
Subtotal
 
Corporate/Eliminations
 
Total
Energy revenue(a)(c)
$
—

 
$
855

 
$
341

 
$
1,196

 
$
(641
)
 
$
555

Capacity revenue(c)
—

 
—

 
309

 
309

 
—

 
309

Retail revenue
 
 
 
 
 
 
 
 
 
 
 
Mass customers
2,722

 
—

 
—

 
—

 
(2
)
 
2,720

Business Solutions customers
631

 
—

 
—

 
—

 
—

 
631

Total retail revenue
3,353

 
—

 
—

 
—

 
(2
)
 
3,351

Mark-to-market for economic hedging activities(a)(b)
2

 
473

 
56

 
529

 
(270
)
 
261

Other revenues(c)
—

 
45

 
111

 
156

 
(2
)
 
154

Total operating revenue
3,355

 
1,373

 
817

 
2,190

 
(915
)
 
4,630

Less: Lease revenue
6

 
—

 
4

 
4

 
—

 
10

Less: Realized and unrealized ASC 815 revenue(a)
2

 
1,730

 
237

 
1,967

 
(911
)
 
1,058

Total revenue from contracts with customers
$
3,347

 
$
(357
)
 
$
576

 
$
219

 
$
(4
)
 
$
3,562

(a) Generation includes higher revenues due to the Company's large internal transfer of power based on average annualized market prices, which are offset by higher
       cost of operations within Retail
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
(c) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 which are included in the amounts above:
 
Retail
 
Texas
 
East/West/Other
 
Subtotal
 
Corporate/Eliminations
 
Total
Energy revenue
$
—

 
$
1,242

 
$
129

 
$
1,371

 
$
(641
)
 
$
730

Capacity revenue
—

 
—

 
48

 
48

 
—

 
48

Other revenue
—

 
15

 
4

 
19

 
—

 
19


 
 
Six months ended June 30, 2018
 
 
 
Generation
 
 
 
 
(In millions)
Retail
 
Texas
 
East/West/Other
 
Subtotal
 
Corporate/Eliminations
 
Total
Energy revenue(a)(c)
$
—

 
$
666

 
$
598

 
$
1,264

 
$
(411
)
 
$
853

Capacity revenue(c)
—

 
—

 
308

 
308

 
(1
)
 
307

Retail revenue
 
 
 
 
 
 
 
 
 
 
 
Mass customers
2,553

 
—

 
—

 
—

 
(2
)
 
2,551

Business Solutions customers
747

 
—

 
—

 
—

 
—

 
747

Total retail revenue
3,300

 
—

 
—

 
—

 
(2
)
 
3,298

Mark-to-market for economic hedging activities(a)(b)
(6
)
 
(273
)
 
(27
)
 
(300
)
 
220

 
(86
)
Other revenues(c)
—

 
64

 
102

 
166

 
(12
)
 
154

Total operating revenue
3,294

 
457

 
981

 
1,438

 
(206
)
 
4,526

Less: Lease revenue
7

 
—

 
4

 
4

 
—

 
11

Less: Realized and unrealized ASC 815 revenue(a)
(6
)
 
714

 
132

 
846

 
(184
)
 
656

Total revenue from contracts with customers
$
3,293

 
$
(257
)
 
$
845

 
$
588

 
$
(22
)
 
$
3,859

(a) Generation includes higher revenues due to the Company's large internal transfer of power based on average annualized market prices, which are offset by higher
       cost of operations within Retail
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
(c) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 which are included in the amounts above:
 
Retail
 
Texas
 
East/West/Other
 
Subtotal
 
Corporate/Eliminations
 
Total
Energy revenue
$
—

 
$
982

 
$
86

 
$
1,068

 
$
(404
)
 
$
664

Capacity revenue
—

 
—

 
65

 
65

 
—

 
65

Other revenue
—

 
5

 
8

 
13

 
—

 
13
Contract Asset and Liabilities
The following table reflects the contract assets and liabilities included in the Company’s balance sheet as of June 30, 2019
and December 31, 2018:
(In millions)
June 30, 2019
 
December 31, 2018
Deferred customer acquisition costs
$
123

 
$
111

 
 
 
 
Accounts receivable, net - Contracts with customers
1,015

 
999

Accounts receivable, net - Derivative instruments
43

 
20

Accounts receivable, net - Affiliate
4

 
5

Total accounts receivable, net
$
1,062

 
$
1,024

 
 
 
 
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)
$
403

 
$
392

Deferred revenues(a)
89

 
67

(a) Deferred revenues from contracts with customers for the six month period ended June 30, 2019 and the twelve month period ended December 31, 2018 were approximately $31 million and $19 million, respectively
The revenue recognized during the six months ended June 30, 2019 and 2018, relating to the deferred revenue balance at the beginning of each period was $13 million and $16 million, respectively. The revenue recognized during the three months ended June 30, 2019 and 2018, relating to the deferred revenue balance at the beginning of each period was $19 million and $16 million, respectively. The change in deferred revenue balances during the three and six months ended June 30, 2019 and 2018 was primarily due to the timing difference of when consideration was received and when the performance obligation was transferred.