v3.26.1
Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
OPERATING REVENUES        
Revenues [1] $ 363 $ 342 $ 638 $ 624
OPERATING EXPENSES        
Operations and maintenance [2] 144 102 277 212
Depreciation and amortization 143 141 284 277
Goodwill impairment charge 0 0 0 253
Taxes other than income taxes and other – net 17 18 35 37
Total operating expenses – net 304 261 596 779
GAINS (LOSSES) ON DISPOSAL OF BUSINESSES/ASSETS – NET 1 9 1 12
OPERATING INCOME (LOSS) 60 90 43 (143)
OTHER INCOME (DEDUCTIONS)        
Interest expense (92) (114) (194) (250)
Equity in earnings of equity method investees 25 31 37 48
Other – net 9 5 17 7
Total other deductions – net (58) (78) (140) (195)
INCOME (LOSS) BEFORE INCOME TAXES 2 12 (97) (338)
INCOME TAX BENEFIT (11) (38) (62) (80)
INCOME (LOSS) FROM CONTINUING OPERATIONS 13 50 (35) (258)
LOSS FROM DISCONTINUED OPERATIONS, net of tax benefit of $3 and $6, respectively 0 (14) 0 (34)
NET INCOME (LOSS) [3] 13 36 (35) (292)
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS 25 43 106 273
NET INCOME (LOSS) ATTRIBUTABLE TO XPLR $ 38 $ 79 $ 71 $ (19)
Earnings (loss) per common unit attributable to XPLR, basic, continuing operations $ 0.40 $ 0.93 $ 0.76 $ (0.01)
Earnings (loss) per common unit attributable to XPLR, diluted, continuing operations 0.40 0.93 0.76 (0.01)
Earnings (loss) per common unit attributable to XPLR, basic, discontinued operations 0 (0.09) 0 (0.19)
Earnings (loss) per common unit attributable to XPLR, diluted, discontinued operations 0 (0.09) 0 (0.19)
Earnings (loss) per common unit attributable to XPLR – basic 0.40 0.84 0.76 (0.20)
Earnings (loss) per common unit attributable to XPLR – assuming dilution $ 0.40 $ 0.84 $ 0.76 $ (0.20)
[1] Includes related party revenues of approximately $10 million and $7 million for the three months ended June 30, 2026 and 2025, respectively, and $26 million and $21 million for the six months ended June 30, 2026 and 2025, respectively.
[2]     Total O&M expenses presented include related party amounts of approximately $25 million and $7 million for the three months ended June 30, 2026 and 2025, respectively, and $66 million and $40 million for the six months ended June 30, 2026 and 2025, respectively.
[3] For each of the three and six months ended June 30, 2026 and 2025, XPLR recognized less than $1 million of other comprehensive income related to an equity method investee, which was primarily attributable to a noncontrolling interest.