v3.26.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($)
$ in Millions
Total
Cardinal Portfolio acquisition
CEG
Tax Equity Investor
Preferred Stock
Common Stock
Additional Paid-In Capital
Additional Paid-In Capital
CEG
Retained Earnings (Accumulated Deficit)
Retained Earnings (Accumulated Deficit)
CEG
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest
Noncontrolling Interest
Cardinal Portfolio acquisition
Noncontrolling Interest
CEG
Noncontrolling Interest
Tax Equity Investor
Accumulated OCI (OCL) beginning balance at Dec. 31, 2024 $ 5,564       $ 0 $ 1 $ 1,805   $ 254   $ 3 $ 3,501      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net (loss) income (104)               (3)     (101)      
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax (5)                   (2) (3)      
Distributions to CEG, net of contributions, cash     $ (2)                     $ (2)  
Contributions from CEG and noncontrolling interests, net of distributions, cash       $ 51                     $ 51
Distributions to noncontrolling interests, non-cash (4)                     (4)      
Transfers of assets under common control (11)           (89)       (1) 79      
Non-cash adjustments for change in tax basis 18           18                
Stock-based compensation 1           1                
Common stock dividends and distributions to CEG unit holders     (87)             $ (51)       (36)  
Other (1)                     (1)      
Accumulated OCI (OCL) ending balance at Mar. 31, 2025 5,420       0 1 1,735   200   0 3,484      
Accumulated OCI (OCL) beginning balance at Dec. 31, 2024 5,564       0 1 1,805   254   3 3,501      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax (18)                            
Accumulated OCI (OCL) ending balance at Jun. 30, 2025 5,535       0 1 1,670   178   (10) 3,696      
Accumulated OCI (OCL) beginning balance at Mar. 31, 2025 5,420       0 1 1,735   200   0 3,484      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net (loss) income 18               30     (12)      
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax (13)                   (4) (9)      
Distributions to CEG, net of contributions, cash     (7)                     (7)  
Contributions from CEG and noncontrolling interests, net of distributions, cash     46 238                   46 238
Transfers of assets under common control (107)           (93)       (6) (8)      
Non-cash adjustments for change in tax basis 27           27                
Stock-based compensation 1           1                
Common stock dividends and distributions to CEG unit holders     (89)             (51)       (38)  
Other 1               (1)     2      
Accumulated OCI (OCL) ending balance at Jun. 30, 2025 5,535       0 1 1,670   178   (10) 3,696      
Accumulated OCI (OCL) beginning balance at Dec. 31, 2025 5,811       0 1 1,715   213   (5) 3,887      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net (loss) income (30)               (163)     133      
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax 10                   5 5      
Distributions to CEG, net of contributions, cash     (64)                     (64)  
Distributions to noncontrolling interests, net of contributions, cash       (178)                     (178)
Transfers of assets under common control (1)                     (1)      
Cardinal Portfolio acquisition   $ 2                     $ 2    
Buyout of noncontrolling interest (3)           2         (5)      
Proceeds from the issuance of Class C common stock 50           50                
Stock-based compensation 1           1                
Common stock dividends and distributions to CEG unit holders     (95)             (56)       (39)  
Accumulated OCI (OCL) ending balance at Mar. 31, 2026 5,503       0 1 1,768   (6)   0 3,740      
Accumulated OCI (OCL) beginning balance at Dec. 31, 2025 5,811       0 1 1,715   213   (5) 3,887      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax 29                            
Accumulated OCI (OCL) ending balance at Jun. 30, 2026 5,473       0 1 1,730   111   9 3,622      
Accumulated OCI (OCL) beginning balance at Mar. 31, 2026 5,503       0 1 1,768   (6)   0 3,740      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net (loss) income 222               122     100      
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax 19                   9 10      
Distributions to CEG, net of contributions, cash     (62)                     (62)  
Distributions to noncontrolling interests, net of contributions, cash       $ (45)                     $ (45)
Transfers of assets under common control (81)                     (81)      
Non-cash adjustments for change in tax basis 12           12                
Stock-based compensation 1           2   (1)            
Common stock dividends and distributions to CEG unit holders     $ (95)         $ (52)   $ (4)       $ (39)  
Other (1)                     (1)      
Accumulated OCI (OCL) ending balance at Jun. 30, 2026 $ 5,473       $ 0 $ 1 $ 1,730   $ 111   $ 9 $ 3,622