Segments (Tables)

9 Months Ended

Sep. 30, 2024

Financial data for the segments and reconciliation to consolidated results are:



	PJM		Other		Corporate and Eliminations		Total
Three Months Ended September 30, 2024 (Successor)
Operating revenues	$	575	$	96	$	(21)	$	650
Interest expense	—		—		66		66
Capital expenditures	54		3		1		58
Adjusted EBITDA	217		28				245

Three Months Ended September 30, 2023 (Successor)
Operating revenues	$	343	$	243	$	(70)	$	516
Interest expense	—		—		68		68
Capital expenditures	50		16		3		69
Adjusted EBITDA	168		83				251



	PJM		Other		Corporate and Eliminations		Total
Nine Months Ended September 30, 2024 (Successor)
Operating revenues	$	1,446	$	304	$	(102)	$	1,648
Interest expense	—		—		187		187
Capital expenditures	123		23		1		147
Adjusted EBITDA	592		71				663

May 18 through September 30, 2023 (Successor)
Operating revenues	$	698	$	213	$	(94)	$	817
Interest expense	—		—		101		101
Capital expenditures	73		26		4		103
Adjusted EBITDA	240		104				344


January 1 through May 17, 2023 (Predecessor)
Operating revenues	$	1,054	$	193	$	(37)	$	1,210
Interest expense	—		—		163		163
Capital expenditures	132		53		2		187
Adjusted EBITDA	688		37				725


	Successor								Predecessor
	Three Months Ended September 30, 2024		Three Months Ended September 30, 2023		Nine Months Ended September 30, 2024		May 18 through September 30, 2023		January 1 through May 17, 2023
Adjusted EBITDA:
PJM	$	217	$	168	$	592	$	240	$	688
Other	28		83		71		104		37
Total Segment Adjusted EBITDA	$	245	$	251	$	663	$	344	$	725
Reconciling Items:
Interest expense and other finance charges	(66)		(68)		(187)		(101)		(163)
Income tax benefit (expense)	(11)		16		(192)		(3)		(212)
Depreciation, amortization and accretion	(75)		(66)		(225)		(94)		(200)
Nuclear fuel amortization	(30)		(47)		(93)		(72)		(33)
Reorganization gain (loss), net	—		—		—		—		799
Unrealized (gain) loss on commodity derivative contracts	102		(84)		58		(43)		(63)
Nuclear decommissioning trust funds gain (loss), net	67		(24)		169		15		57
Stock-based compensation expense	(8)		(9)		(24)		(11)		—
Long-term incentive compensation expense	(3)		—		(19)		—		—
Gain (loss) on asset sales, net	—		—		885		—		50
Non-cash impairments	—		(2)		—		(2)		(381)



Operational and other restructuring activities	(40)		(4)		(61)		(30)		(17)
Development expenses	(1)		(5)		(1)		(7)		(10)
Non-cash inventory net realizable value, obsolescence, and other charges	(2)		2		(5)		(1)		(56)
Noncontrolling interest	3		14		21		22		14
Other items	2		(23)		13		(21)		(15)
Corporate and Eliminations	(15)		(27)		(57)		(41)		(30)
Net Income (Loss)	$	168	$	(76)	$	945	$	(45)	$	465