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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
5 Months Ended 7 Months Ended 12 Months Ended
May 17, 2023
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2022
Operating Activities        
Net Income (Loss) $ 465 $ 143 $ 1,013 $ (1,293)
Non-cash reconciliation adjustments:        
(Gain) loss on AWS Data Campus Sale and ERCOT Sale (Note 20) 0 0 (886) 0
Depreciation, amortization and accretion (Note 19) 208 157 285 549
NDT funds (gain) loss, net (excluding interest and fees) (Note 9) (43) (78) (130) 227
Nuclear fuel amortization (Note 10) 33 108 123 94
Unrealized (gains) losses on derivative instruments (Note 5) 65 (40) (69) (647)
Deferred income taxes 195 55 (46) (48)
Impairments (Note 10) 381 3 1 0
(Gain) loss on sales of assets, net (50) (7) 0 0
Reorganization (income) expense, net (Note 4) (933) 0 0 99
Operational restructuring 0 0 0 488
Consolidation of subsidiary (gain) loss (Note 2) 0 0 0 170
Other (Note 19) 7 7 (26) 200
Changes in assets and liabilities:        
Inventory, net 10 (68) 67 (55)
Accounts receivable 261 8 14 (298)
Other assets 98 147 (61) (46)
Accounts payable and accrued liabilities (69) (49) (69) 187
Accrued interest (124) 28 (15) 250
Other liabilities (42) (12) 55 310
Net cash provided by (used in) operating activities 462 402 256 187
Investing Activities        
NDT funds investment purchases (Note 9) (959) (1,290) (2,295) (2,271)
NDT funds investment sale proceeds (Note 9) 949 1,265 2,263 2,243
Proceeds from AWS Data Campus Sale and ERCOT Sale (Note 20) 0 0 1,398 0
Nuclear fuel expenditures (Note 10) (49) (45) (104) (80)
Property, plant and equipment expenditures (Note 10) (138) (116) (85) (232)
Equity investments in affiliates (8) (5) (10) (162)
Proceeds from the sale of assets 46 8 2 0
Increase (decrease) in cash and restricted cash due to consolidation of subsidiaries 0 0 0 123
Other investing activities 2 12 2 11
Net cash provided by (used in) investing activities (157) (171) 1,171 (368)
Financing Activities        
Share repurchases (Note 18) 0 0 (1,958) 0
TES debt issuance (Note 13) 0 0 849 0
TES debt repayments (Note 13) 0 0 (479) 0
Cumulus Digital TLF repayment (Note 13) 0 (15) (182) 0
Repurchase of noncontrolling interest (Note 18) 0 (19) (125) 0
Cash settlement of restricted stock units 0 0 (32) 0
Exercise or repurchase of warrants (Note 18) 0 (40) (16) 0
Deferred financing costs (74) (7) (13) (59)
LMBE-MC TLB payments (7) (294) 0 (52)
TLB-1 proceeds, net 0 288 0 0
Repayment of prepetition secured indebtedness (Note 4) (3,898) 0 0 0
Financing proceeds at Emergence, net of discount (Note 4) 2,219 0 0 0
Contributions from member 1,393 0 0 0
Payment of make-whole premiums on prepetition secured indebtedness (152) 0 0 0
Derivatives with financing elements (20) 0 0 (104)
Debtor-in-possession credit facilities proceeds, net 0 0 0 987
Prepetition deferred capacity obligations repayments 0 0 0 (176)
Prepetition inventory repurchase obligations, net increase (decrease) 0 0 0 (165)
Prepetition senior secured revolving credit facility proceeds 0 0 0 62
Prepetition senior secured revolving credit facility repayments 0 0 0 (62)
Other 0 3 (7) (5)
Net cash provided by (used in) financing activities (539) (84) (1,963) 426
Net Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash and Cash Equivalents (234) 147 (536) 245
Beginning of period cash and cash equivalents and restricted cash and cash equivalents 988 754 901 743
End of period cash and cash equivalents and restricted cash and cash equivalents $ 754 $ 901 $ 365 $ 988