Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Basic earnings per share available to common stockholders are based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated using the treasury stock method and includes the effect of all potential issuances of common shares under stock-based incentive compensation arrangements.

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(in millions, except share data)
Net income attributable to Vistra	$	327	$	365	$	59	$	330
Less cumulative dividends attributable to Series A Preferred Stock	(20)		(20)		(40)		(40)
Less cumulative dividends attributable to Series B Preferred Stock	(17)		(17)		(35)		(35)
Less cumulative dividends attributable to Series C Preferred Stock	(10)		(10)		(21)		(21)
Net income attributable to common stock — basic and diluted	$	280	$	318	$	(37)	$	234
Weighted average shares of common stock outstanding:
Basic	339,401,983		347,046,021		339,599,887		348,006,109
Dilutive securities: Stock-based incentive compensation plan	6,103,205		7,281,372		—		7,549,320
Diluted	345,505,188		354,327,393		339,599,887		355,555,429
Net income per weighted average share of common stock outstanding:
Basic	$	0.82	$	0.92	$	(0.11)	$	0.67
Diluted	$	0.81	$	0.90	$	(0.11)	$	0.66