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Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following tables represent the Company’s disaggregation of revenue from contracts with customers for the years ended December 31, 2025, 2024, and 2023:
For the Year Ended December 31, 2025
(In millions)
TexasEastWest/OtherVivint Smart HomeCorporate/EliminationsTotal
Retail revenue:
Home$7,172 $2,502 $1,167 $2,144 $(18)$12,967 
Business3,724 10,965 1,887 — — 16,576 
Total retail revenue(a)
10,896 13,467 3,054 2,144 (18)29,543 
Energy revenue(a)
49 441 101 — (1)590 
Capacity revenue(a)
— 267 14 — (1)280 
Mark-to-market for economic hedging activities(b)
— 7 10 — (5)12 
Contract amortization— (6)— — — (6)
Other revenue(a)
194 87 23 — (10)294 
Total revenue11,139 14,263 3,202 2,144 (35)30,713 
Less: Revenues accounted for under topics other than ASC 606 and ASC 815— 36 8 120 — 164 
Less: Realized and unrealized ASC 815 revenue31 167 10 — (6)202 
Total revenue from contracts with customers$11,108 $14,060 $3,184 $2,024 $(29)$30,347 
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)
TexasEastWest/OtherVivint Smart HomeCorporate/EliminationsTotal
Retail revenue$— $37 $— $— $— $37 
Energy revenue— 55 — — (1)54 
Capacity revenue— 63 — — — 63 
Other revenue31 5 — — — 36 
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
For the Year Ended December 31, 2024
(In millions)
TexasEastWest/OtherVivint Smart HomeCorporate/EliminationsTotal
Retail revenue:
Home$6,836 $2,453 $1,683 $1,991 $(17)$12,946 
Business3,564 8,794 1,845 — — 14,203 
Total retail revenue(a)
10,400 11,247 3,528 1,991 (17)27,149 
Energy revenue(a)
41 242 229 — (12)500 
Capacity revenue(a)
— 156 24 — (3)177 
Mark-to-market for economic hedging activities(b)
— (23)16 — 4 (3)
Contract amortization— (27)(2)— — (29)
Other revenue(a)
210 114 24 — (12)336 
Total revenue10,651 11,709 3,819 1,991 (40)28,130 
Less: Revenues accounted for under topics other than ASC 606 and ASC 815— 57 6 55 (1)117 
Less: Realized and unrealized ASC 815 revenue30 168 75 — (8)265 
Total revenue from contracts with customers$10,621 $11,484 $3,738 $1,936 $(31)$27,748 
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)
TexasEastWest/OtherVivint Smart HomeCorporate/EliminationsTotal
Retail revenue$— $36 $— $— $— $36 
Energy revenue— 79 63 — (12)130 
Capacity revenue— 76 — — — 76 
Other revenue30 — (4)— — 26 
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
For the Year Ended December 31, 2023
(In millions)TexasEastWest/Other
Vivint Smart Home(a)
Corporate/EliminationsTotal
Retail revenue:
Home
$6,538 $2,195 $1,849 $1,589 $— $12,171 
Business3,492 9,751 2,053 — — 15,296 
Total retail revenue(b)
10,030 11,946 3,902 1,589 — 27,467 
Energy revenue(b)
77 291 185 — — 553 
Capacity revenue(b)
— 197 2 — (2)197 
Mark-to-market for economic hedging activities(c)
— 57 104 — (17)144 
Contract amortization— (32)— — — (32)
Other revenue(b)
367 90 48 — (11)494 
Total revenue10,474 12,549 4,241 1,589 (30)28,823 
Less: Revenues accounted for under topics other than ASC 606 and ASC 815— 17 7 28 — 52 
Less: Realized and unrealized ASC 815 revenue29 364 139 — (17)515 
Total revenue from contracts with customers$10,445 $12,168 $4,095 $1,561 $(13)$28,256 
(a) Includes results of operations following the acquisition date of March 10, 2023
(b) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)TexasEastWest/OtherVivint Smart HomeCorporate/EliminationsTotal
Retail revenue$— $74 $— $— $— $74 
Energy revenue— 162 13 — 1 176 
Capacity revenue— 73 — — — 73 
Other revenue29 (2)22 — (1)48 
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815
Contract Assets and Liabilities
The following table reflects the contract assets and liabilities included in the Company's balance sheet as of December 31, 2025 and 2024:
(In millions)December 31, 2025December 31, 2024
Capitalized contract costs (included in Prepayments and other current assets and Other non-current assets)$1,680 $1,220 
Accounts receivable, net - Contracts with customers3,924 3,393 
Accounts receivable, net - Accounted for under topics other than ASC 606135 90 
Accounts receivable, net - Affiliate6 5 
Total accounts receivable, net$4,065 $3,488 
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)$1,747 $1,548 
Deferred revenues(a)
$1,643 $1,573 
(a)Deferred revenues from contracts with customers as of December 31, 2025 and 2024 were approximately $1.6 billion and $1.5 billion, respectively.