v3.25.2
INVESTMENTS AND RELATED PARTY TRANSACTIONS (Tables)
6 Months Ended
Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investment Unconsolidated Subsidiary
The following tables present changes to our investments in unconsolidated subsidiaries for the periods presented:

Carbon TerraVault JV
(in millions)
Investment, December 31, 2024
$27 
Loss from investment in unconsolidated subsidiary
(2)
Contributions15 
Investment, June 30, 2025
$40 

Midway Sunset Cogeneration Company
(in millions)
Investment, December 31, 2024
$59 
Adjustment to the preliminary purchase price allocation (see Note 2 Aera Merger)
(7)
Income from investment in unconsolidated subsidiary
Investment, June 30, 2025
$53 
The table below presents the summarized financial information related to our equity method investment in the Carbon TerraVault JV (and does not include amounts we have incurred related to development of our carbon management business, Carbon TerraVault), along with related party transactions for the periods presented.

June 30,December 31,
20252024
(in millions)
Receivable from affiliate(a)
$31 $46 
Other long-term liabilities(b)
$112 $107 
(a)At June 30, 2025, the amount of $31 million includes the remaining $28 million of Brookfield's first and second installments of their initial investment which is available to us and $3 million related to the Master Service Agreement (MSA) and vendor reimbursements. At December 31, 2024, the amount of $46 million includes $43 million remaining of Brookfield's initial contribution available to us and $3 million related to the MSA and vendor reimbursements.
(b)Other long-term liabilities include the contingent liability related to the Carbon TerraVault JV put and call rights.