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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net Income/(Loss) $ 1,249 $ (1,027)
Adjustments to reconcile net income/(loss) to cash provided/(used) by operating activities:    
Equity in and distributions from earnings of unconsolidated affiliates (4) (9)
Depreciation and amortization 553 505
Accretion of asset retirement obligations 3 5
Provision for credit losses 133 80
Amortization of nuclear fuel 0 26
Amortization of financing costs and debt discounts 21 31
Loss on debt extinguishment 260 0
Amortization of in-the-money contracts and emissions allowances 73 112
Amortization of unearned equity compensation 57 61
Net loss/(gain) on sale of assets and disposal of assets 8 (187)
Impairment losses 15 0
Changes in derivative instruments (1,384) 1,515
Changes in current and deferred income taxes and liability for uncertain tax benefits 390 (282)
Changes in collateral deposits in support of risk management activities 660 (1,355)
Changes in nuclear decommissioning trust liability 0 2
Changes in other working capital (711) (505)
Cash provided/(used) by operating activities 1,323 (1,028)
Cash Flows from Investing Activities    
Payments for acquisitions of businesses and assets, net of cash acquired (32) (2,498)
Capital expenditures (172) (324)
Net purchases of emissions allowances (11) (25)
Investments in nuclear decommissioning trust fund securities 0 (185)
Proceeds from the sale of nuclear decommissioning trust fund securities 0 180
Proceeds from sales of assets, net of cash disposed 11 229
Proceeds from insurance recoveries for property, plant and equipment, net 3 121
Cash used by investing activities (201) (2,502)
Cash Flows from Financing Activities    
Proceeds from issuance of preferred stock, net of fees 0 635
Payments of dividends to preferred and common stockholders (204) (174)
Equivalent shares purchased in lieu of tax withholdings (35) (16)
Payments for share repurchase activity (90) 0
Net (payments)/receipts from settlement of acquired derivatives that include financing elements (12) 318
Net proceeds of Revolving Credit Facility and Receivable Securitization Facilities 0 500
Proceeds from issuance of long-term debt 875 731
Payments of debt issuance costs (12) (22)
Repayments of long-term debt and finance leases (956) (10)
Payments for debt extinguishment costs (257) 0
Proceeds from credit facilities 625 1,870
Repayments to credit facilities (625) (1,670)
Cash (used)/provided by financing activities (691) 2,162
Effect of exchange rate changes on cash and cash equivalents 0 3
Net Increase/(Decrease) in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash 431 (1,365)
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period 649 2,178
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period $ 1,080 $ 813