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Condensed Consolidated Statements of Changes in Equity - USD ($)
$ in Millions
Total
Total Stockholders' Equity
Preferred Stock
Common Stock
Treasury Stock
Additional Paid-In Capital
Accumulated Deficit
Accumulated Other Comprehensive Income
Noncontrolling Interest in Subsidiary
Beginning balance at Dec. 31, 2023 $ 5,322 $ 5,307 $ 2,476 $ 5 $ (4,662) $ 10,095 $ (2,613) $ 6 $ 15
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock repurchases (285) (285)     (285)        
Effects of stock-based incentive compensation plans [1] 35 35       35      
Equity issued in subsidiary to acquire Energy Harbor [2] 2,307 747       747     1,560
Net income (loss) 18 (35)         (35)   53
Dividends declared on common stock (77) (77)         (77)    
Dividends declared on preferred stock (37) (37)         (37)    
Other (1) (1)       1      
Ending balance at Mar. 31, 2024 7,284 5,656 2,476 5 (4,947) 10,878 (2,762) 6 1,628
Beginning balance at Dec. 31, 2023 5,322 5,307 2,476 5 (4,662) 10,095 (2,613) 6 15
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 2,322                
Ending balance at Sep. 30, 2024 5,455 5,441 2,476 5 (5,684) 9,396 (759) 7 14
Beginning balance at Mar. 31, 2024 7,284 5,656 2,476 5 (4,947) 10,878 (2,762) 6 1,628
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock repurchases (331) (331)     (331)        
Effects of stock-based incentive compensation plans 40 40       40      
Net income (loss) 467 365         365   102
Dividends declared on common stock (77) (77)         (77)    
Dividends declared on preferred stock (59) (59)         (59)    
Dividends to noncontrolling interest (15)               (15)
Other (2) (1)       (1)     1
Ending balance at Jun. 30, 2024 7,307 5,593 2,476 5 (5,278) 10,917 (2,533) 6 1,714
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock repurchases (406) (406)     (406)        
Effects of stock-based incentive compensation plans 28 28       28      
Net income (loss) 1,837 1,888         1,888   (51)
Dividends declared on common stock (76) (76)         (76)    
Dividends declared on preferred stock (39) (39)         (39)    
Change in accumulated other comprehensive income 1 1           1  
Modification of noncontrolling interest to redeemable noncontrolling interest [2] 3,198 1,539       1,539     1,659
Other 1 (9)       (10) 1   (10)
Ending balance at Sep. 30, 2024 5,455 5,441 2,476 5 (5,684) 9,396 (759) 7 14
Beginning balance at Dec. 31, 2024 5,583 5,570 2,476 5 (5,912) 9,435 (454) 20 13
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock repurchases (336) (336)     (336)        
Effects of stock-based incentive compensation plans [1] (27) (27)       (27)      
Net income (loss) (268) (268)         (268)    
Dividends declared on common stock (75) (75)         (75)    
Dividends declared on preferred stock (38) (38)         (38)    
Other (1) (1)       (1)      
Ending balance at Mar. 31, 2025 4,838 4,825 2,476 5 (6,248) 9,407 (835) 20 13
Beginning balance at Dec. 31, 2024 5,583 5,570 2,476 5 (5,912) 9,435 (454) 20 13
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 711                
Ending balance at Sep. 30, 2025 5,223 5,210 2,476 5 (6,675) 9,491 (107) 20 13
Beginning balance at Mar. 31, 2025 4,838 4,825 2,476 5 (6,248) 9,407 (835) 20 13
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock repurchases (237) (237)     (237)        
Effects of stock-based incentive compensation plans 43 43       43      
Net income (loss) 327 327         327   0
Dividends declared on common stock (77) (77)         (77)    
Dividends declared on preferred stock (58) (58)         (58)    
Change in accumulated other comprehensive income (1) (1)           (1)  
Other 1 1         1    
Ending balance at Jun. 30, 2025 4,836 4,823 2,476 5 (6,485) 9,450 (642) 19 13
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock repurchases (190) (190)     (190)        
Effects of stock-based incentive compensation plans 42 42       42      
Net income (loss) 652 652         652   0
Dividends declared on common stock (79) (79)              
Dividends declared on preferred stock (39) (39)         (39)    
Change in accumulated other comprehensive income 1 1           1  
Other 0         (1) 1    
Ending balance at Sep. 30, 2025 $ 5,223 $ 5,210 $ 2,476 $ 5 $ (6,675) $ 9,491 $ (107) $ 20 $ 13
[1] Includes cash payments to cover tax withholding obligations upon the vesting of stock-based incentive compensation plans of $50 million and $12 million for the three months ended March 31, 2025 and 2024, respectively.
[2] See Note 2 for additional information regarding activity associated with noncontrolling interest.