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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Net Income/(Loss) $ 482 $ (684)
Adjustments to reconcile net income/(loss) to cash provided/(used) by operating activities:    
Equity in and distributions from earnings of unconsolidated affiliates (6) (16)
Depreciation of property, plant and equipment and amortization of customer relationships and other intangible assets 814 813
Amortization of capitalized contract costs 231 108
Accretion of asset retirement obligations 29 14
Provision for credit losses 228 165
Amortization of nuclear fuel 0 42
Amortization of financing costs and debt discounts 32 42
Loss on debt extinguishment 260 0
Amortization of in-the-money contracts and emissions allowances 83 111
Amortization of unearned equity compensation 82 87
Net gain on sale of assets and disposal of assets (197) (187)
Impairment losses 15 0
Changes in derivative instruments 268 1,553
Changes in current and deferred income taxes and liability for uncertain tax benefits 134 (225)
Changes in collateral deposits in support of risk management activities (80) (1,188)
Changes in nuclear decommissioning trust liability 0 (4)
Changes in other working capital (1,021) (1,093)
Cash provided/(used) by operating activities 1,354 (462)
Cash Flows from Investing Activities    
Payments for acquisitions of businesses and assets, net of cash acquired (33) (2,502)
Capital expenditures (286) (493)
Net purchases of emissions allowances (16) (25)
Investments in nuclear decommissioning trust fund securities 0 (293)
Proceeds from the sale of nuclear decommissioning trust fund securities 0 280
Proceeds from sales of assets, net of cash disposed 495 229
Proceeds from insurance recoveries for property, plant and equipment, net 3 173
Cash provided/(used) by investing activities 163 (2,631)
Cash Flows from Financing Activities    
Proceeds from issuance of preferred stock, net of fees 0 635
Payments of dividends to preferred and common stockholders (322) (295)
Equivalent shares purchased in lieu of tax withholdings (45) (19)
Payments for share repurchase activity (316) (50)
Net (payments)/receipts from settlement of acquired derivatives that include financing elements (2) 332
Net proceeds of Revolving Credit Facility and Receivable Securitization Facilities 0 300
Proceeds from issuance of long-term debt 875 731
Payments of debt issuance costs (13) (29)
Repayments of long-term debt and finance leases (960) (15)
Payments for debt extinguishment costs (258) 0
Proceeds from credit facilities 1,050 3,020
Repayments to credit facilities (1,050) (3,020)
Cash (used)/provided by financing activities (1,041) 1,590
Effect of exchange rate changes on cash and cash equivalents 1 0
Net Increase/(Decrease) in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash 477 (1,503)
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 $ 1,126 $ 675