Segment Information (Tables)

9 Months Ended

Sep. 30, 2025


	Three Months Ended September 30, 2025
	Retail		Texas		East		West		Asset Closure		Total Reportable Segments		Corporate and Other		Total
	(in millions)
Operating revenues	$	4,139	$	1,799	$	1,750	$	165	$	2	$	7,855	$	(2,884)	$	4,971
Fuel, purchased power costs, and delivery fees (a)	(3,815)		(544)		(866)		(32)		—		(5,257)		2,887		(2,370)
Operating costs	(54)		(243)		(338)		(15)		(12)		(662)		7		(655)
Selling, general, and administrative expenses	(270)		(38)		(59)		(2)		(16)		(385)		(59)		(444)
Other segment items:
Depreciation and amortization	(23)		(160)		(244)		(14)		—		(441)		(19)		(460)
Interest expenses and related charges	(18)		9		16		2		(1)		8		(294)		(286)
Income tax expense	—		—		—		—		—		—		(204)		(204)
Other (b)	1		—		95		1		1		98		2		100
Net income (loss)	$	(40)	$	823	$	354	$	105	$	(26)	$	1,216	$	(564)	$	652

____________

(a)Includes nuclear fuel amortization of $35 million and $94 million, respectively, in the Texas and East segments.

(b)Other includes impairment of long-lived assets and other income, net.


	Three Months Ended September 30, 2024
	Retail		Texas		East		West		Asset Closure		Total Reportable Segments		Corporate and Other		Total
	(in millions)
Operating revenues	$	4,251	$	4,244	$	1,853	$	232	$	11	$	10,591	$	(4,303)	$	6,288
Fuel, purchased power costs, and delivery fees (a)	(5,117)		(487)		(859)		(45)		(2)		(6,510)		4,303		(2,207)
Operating costs	(47)		(242)		(296)		(11)		(19)		(615)		(1)		(616)
Selling, general, and administrative expenses	(266)		(40)		(32)		(8)		(9)		(355)		(56)		(411)
Other segment items:
Depreciation and amortization	(31)		(155)		(241)		(15)		(7)		(449)		(17)		(466)
Interest expenses and related charges	(16)		11		4		1		(1)		(1)		(331)		(332)
Income tax expense	—		—		—		—		—		—		(555)		(555)
Other (b)	—		23		97		1		7		128		8		136
Net income (loss)	$	(1,226)	$	3,354	$	526	$	155	$	(20)	$	2,789	$	(952)	$	1,837

____________

(a)Includes nuclear fuel amortization of $28 million and $95 million, respectively, in the Texas and East segments.

(b)Other includes other income, net.


	Nine Months Ended September 30, 2025
	Retail		Texas		East		West		Asset Closure		Total Reportable Segments		Corporate and Other		Total
	(in millions)

Operating revenues	$	10,839	$	3,797	$	4,610	$	347	$	26	$	19,619	$	(6,465)	$	13,154
Fuel, purchased power costs, and delivery fees (a)	(8,848)		(1,509)		(2,784)		(119)		—		(13,260)		6,469		(6,791)
Operating costs	(131)		(778)		(1,020)		(45)		(113)		(2,087)		6		(2,081)
Selling, general, and administrative expenses	(769)		(122)		(175)		(11)		(52)		(1,129)		(125)		(1,254)
Other segment items:
Depreciation and amortization	(70)		(477)		(876)		(45)		2		(1,466)		(57)		(1,523)
Interest expenses and related charges	(53)		41		36		4		(3)		25		(933)		(908)
Income tax expense	—		—		(1)		—		—		(1)		(103)		(104)
Other (b)	1		14		194		1		3		213		5		218
Net income (loss)	$	969	$	966	$	(16)	$	132	$	(137)	$	1,914	$	(1,203)	$	711
Capital expenditures, including nuclear fuel and excluding growth expenditures (c)	$	10	$	714	$	444	$	117	$	—	$	1,285	$	411	$	1,696

____________

(a)Includes nuclear fuel amortization of $96 million and $270 million, respectively, in the Texas and East segments.

(b)Other includes impairment of long-lived assets and other income, net.

(c)Corporate and other includes $380 million of nuclear fuel purchases.


	Nine Months Ended September 30, 2024
	Retail		Texas		East		West		Asset Closure		Total Reportable Segments		Corporate and Other		Total
	(in millions)
Operating revenues	$	9,913	$	4,924	$	4,241	$	701	$	29	$	19,808	$	(6,621)	$	13,187
Fuel, purchased power costs, and delivery fees (a)	(8,724)		(1,249)		(2,000)		(164)		(5)		(12,142)		6,622		(5,520)
Operating costs	(118)		(753)		(774)		(39)		(56)		(1,740)		(2)		(1,742)
Selling, general, and administrative expenses	(715)		(116)		(93)		(14)		(34)		(972)		(165)		(1,137)
Other segment items:
Depreciation and amortization	(85)		(423)		(684)		(43)		(21)		(1,256)		(50)		(1,306)
Interest expenses and related charges	(38)		33		4		1		(3)		(3)		(740)		(743)
Income tax expense	—		—		—		—		—		—		(694)		(694)
Other (b)	(1)		29		177		—		14		219		58		277
Net income (loss)	$	232	$	2,445	$	871	$	442	$	(76)	$	3,914	$	(1,592)	$	2,322
Capital expenditures, including nuclear fuel and excluding growth expenditures (c)	$	3	$	544	$	393	$	44	$	1	$	985	$	486	$	1,471

____________

(a)Includes nuclear fuel amortization of $80 million and $189 million, respectively, in the Texas and East segments.

(b)Other includes other income, net and the impacts of the Tax Receivable Agreement.

(c)Corporate and other includes $445 million of nuclear fuel purchases.