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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net Income $ 2,187 $ 510 $ 4,441
Income from discontinued operations, net of income tax 0 0 321
Income from continuing operations 2,187 510 4,120
Adjustments to reconcile net income to net cash provided by operating activities:      
Distributions from and equity in earnings of unconsolidated affiliates 20 45 14
Depreciation and amortization 785 435 373
Accretion of asset retirement obligations 30 45 51
Provision for credit losses 698 108 95
Amortization of nuclear fuel 51 54 52
Amortization of financing costs and debt discounts 39 48 26
Loss on debt extinguishment 77 9 51
Amortization of in-the-money contracts and emission allowances 106 70 72
Amortization of unearned equity compensation 21 22 20
Net gain on sale of assets and disposal of assets (261) (23) (23)
Impairment losses 544 93 113
Changes in derivative instruments (3,626) 137 34
Changes in deferred income taxes and liability for uncertain tax benefits 604 228 (3,353)
Changes in collateral deposits in support of risk management activities 797 127 105
Changes in nuclear decommissioning trust liability 40 51 37
Oil lower of cost or market adjustment 0 29 0
Uplift securitization proceeds receivable from ERCOT (689) 0 0
Cash (used)/provided by changes in other working capital, net of acquisition and disposition effects:      
Accounts receivable - trade (1,232) 0 5
Inventory (61) 27 22
Prepayments and other current assets 31 4 29
Accounts payable 476 (56) (177)
Accrued expenses and other current liabilities (55) (42) (75)
Other assets and liabilities (89) (84) (186)
Cash provided by continuing operations 493 1,837 1,405
Cash provided by discontinued operations 0 0 8
Net Cash Provided by Operating Activities 493 1,837 1,413
Cash Flows from Investing Activities      
Payments for acquisitions of assets, businesses and leases (3,559) (284) (355)
Capital expenditures (269) (230) (228)
Net (purchases)/sales of emissions allowances 0 (10) 11
Investments in nuclear decommissioning trust fund securities (751) (492) (416)
Proceeds from sales of nuclear decommissioning trust fund securities 710 439 381
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees 830 81 1,294
Changes in investments in unconsolidated affiliates 0 2 (91)
Net contributions to discontinued operations 0 0 (44)
Other 0 0 6
Cash (used)/provided by continuing operations (3,039) (494) 558
Cash used by discontinued operations 0 0 (2)
Net Cash (Used)/Provided by Investing Activities (3,039) (494) 556
Cash Flows from Financing Activities      
Proceeds from issuance of long-term debt 1,100 3,234 1,833
Payments for short and long-term debt (1,861) (335) (2,571)
Payments of dividends to common stockholders (319) (295) (32)
Net receipts/(payments) from settlement of acquired derivatives that include financing elements 938 (7) (4)
Payments for share repurchase activity (48) (229) (1,440)
Payments for debt extinguishment costs (65) (5) (26)
Payments of debt issuance costs (18) (75) (35)
Net (repayments)/proceeds of Revolving Credit Facility 0 (83) 83
Proceeds from issuance of common stock 1 1 3
Purchase of and distributions to noncontrolling interests from subsidiaries 0 (2) (2)
Cash (used)/provided by continuing operations (272) 2,204 (2,191)
Cash provided by discontinued operations 0 0 43
Net Cash (Used)/Provided by Financing Activities (272) 2,204 (2,148)
Effect of exchange rate changes on cash and cash equivalents (2) (2) 0
Change in Cash from discontinued operations 0 0 49
Net (Decrease)/Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash (2,820) 3,545 (228)
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period 3,930 385 613
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period $ 1,110 $ 3,930 $ 385