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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities      
Net income $ 1,221 $ 2,187 $ 510
Adjustments to reconcile net income to net cash provided by operating activities:      
Distributions from and equity in earnings of unconsolidated affiliates 7 20 45
Depreciation and amortization 634 785 435
Accretion of asset retirement obligations 55 30 45
Provision for credit losses 11 698 108
Amortization of nuclear fuel 54 51 54
Amortization of financing costs and debt discounts 23 39 48
Loss on debt extinguishment 0 77 9
Amortization of in-the-money contracts and emission allowances 158 106 70
Amortization of unearned equity compensation 28 21 22
Net gain on sale of assets and disposal of assets (102) (261) (23)
Impairment losses 206 544 93
Changes in derivative instruments (3,221) (3,626) 137
Changes in deferred income taxes and liability for uncertain tax benefits 382 604 228
Changes in collateral deposits in support of risk management activities 896 797 127
Changes in nuclear decommissioning trust liability 9 40 51
Oil lower of cost or market adjustment 0 0 29
Uplift securitization proceeds received/(receivable) from ERCOT 689 (689) 0
Cash (used)/provided by changes in other working capital, net of acquisition and disposition effects:      
Accounts receivable - trade (1,560) (1,232) 0
Inventory (252) (61) 27
Prepayments and other current assets 17 31 4
Accounts payable 1,295 476 (56)
Accrued expenses and other current liabilities (29) (55) (42)
Other assets and liabilities (161) (89) (84)
Cash provided by operating activities 360 493 1,837
Cash Flows from Investing Activities      
Payments for acquisitions of assets, businesses and leases (62) (3,559) (284)
Capital expenditures (367) (269) (230)
Net purchases of emissions allowances (6) 0 (10)
Investments in nuclear decommissioning trust fund securities (454) (751) (492)
Proceeds from sales of nuclear decommissioning trust fund securities 448 710 439
Proceeds from sale of assets, net of cash disposed and fees 109 830 81
Changes in investments in unconsolidated affiliates 0 0 2
Cash used by investing activities (332) (3,039) (494)
Cash Flows from Financing Activities      
Net receipts/(payments) from settlement of acquired derivatives that include financing elements 1,995 938 (7)
Payments for share repurchase activity (606) (48) (229)
Payments of dividends to common stockholders (332) (319) (295)
Proceeds from issuance of long-term debt 0 1,100 3,234
Payments for short and long-term debt (5) (1,861) (335)
Payments for debt extinguishment costs 0 (65) (5)
Payments of debt issuance costs (9) (18) (75)
Repayments of Revolving Credit Facility 0 0 (83)
Proceeds from issuance of common stock 0 1 1
Purchase of and distributions to noncontrolling interests from subsidiaries 0 0 (2)
Cash provided/(used) by financing activities 1,043 (272) 2,204
Effect of exchange rate changes on cash and cash equivalents (3) (2) (2)
Net Increase/(Decrease) in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash 1,068 (2,820) 3,545
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period 1,110 3,930 385
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period $ 2,178 $ 1,110 $ 3,930