Segments (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Consolidated Segment and Reconciliation



						PJM						Other						Corporate and Eliminations						Total
Three Months Ended June 30, 2025
Operating revenues						$	638					$	(1)					$	(7)					$	630
Operation, maintenance and development expenses (a)						180						12
Interest expense and other finance charges						—						—						62						62
Other segment items (b)						343
Adjusted EBITDA						115
Capital expenditures						33						4						—						37

Three Months Ended June 30, 2024
Operating revenues						$	438					$	58					$	(7)					$	489
Operation, maintenance and development expenses (a)						141						23
Interest expense and other finance charges						—						—						62						62
Other segment items (b)						202
Adjusted EBITDA						95
Capital expenditures						14						—						—						14


						PJM						Other						Corporate and Eliminations						Total
Six Months Ended June 30, 2025
Operating revenues						$	1,005					$	41					$	(26)					$	1,020
Operation, maintenance and development expenses (a)						318						20
Interest expense and other finance charges						—						—						136						136
Other segment items (b)						363
Adjusted EBITDA						324
Capital expenditures						95						5						1						101

Six Months Ended June 30, 2024
Operating revenues						$	871					$	208					$	(81)					$	998
Operation, maintenance and development expenses (a)						269						49
Interest expense and other finance charges						—						—						121						121
Other segment items (b)						227
Adjusted EBITDA						375
Capital expenditures						66						14						—						80

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(a)This significant segment expense category aligns with the segment-level information that is regularly provided to the CODM.

(b)Other segment items are primarily comprised of fuel and energy purchases.

Reconciliation of segment Adjusted EBITDA to Net Income (Loss):


						Three Months Ended June 30,												Six Months Ended June 30,
						2025						2024						2025						2024
Adjusted EBITDA:
PJM						$	115					$	95					$	324					$	375
Total Segment Adjusted EBITDA						$	115					$	95					$	324					$	375
Reconciling Items:
Interest expense and other finance charges						(62)						(62)						$	(136)					$	(121)
Income tax benefit (expense)						(25)						(112)						27						(181)
Depreciation, amortization and accretion						(70)						(75)						(144)						(150)
Nuclear fuel amortization						(18)						(28)						(44)						(63)

Unrealized (gain) loss on commodity derivative contracts						92						91						(90)						(44)
Nuclear decommissioning trust funds gain (loss), net						80						27						68						102
Stock-based and other long-term incentive compensation expense						(18)						(14)						(31)						(32)


Gain (loss) on asset sales, net (a)						9						561						11						885




Operational and other restructuring activities						—						(19)						(9)						(21)




"Other" operating segment						(1)						5						8						43
Noncontrolling interest						—						7						—						18
Corporate and Eliminations						(24)						(13)						(42)						(42)
Other items						(6)						(5)						(5)						8
Net Income (Loss)						$	72					$	458					$	(63)					$	777

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(a)See Note 17 for additional information.