v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The following table presents the preliminary fair value estimates of the assets acquired and liabilities assumed by Cardinal Purchaser LLC as of the acquisition date:
(In millions)
Cardinal Portfolio (a)
Cash$1 
Restricted cash15 
Property, plant and equipment314 
Intangible assets for power purchase agreements128 
Right-of-use assets 62 
Derivative assets6 
Other current and non-current assets24 
Total assets acquired550 
Long-term debt (b)
180 
Long-term lease liabilities39 
Other current liabilities3 
Other non-current liabilities84 
Total liabilities assumed306 
Noncontrolling interest (c)
2 
Net assets acquired$242 
(a) Excludes the equity method investment held by Cardinal JV Purchaser LLC.
(b) See Note 7, Long-term Debt, for additional information regarding the assumed facility-level debt.
(c) Represents a tax equity fund, Shoreham Energy Holdings, LLC, which the Company consolidates as primary beneficiary. The Class A membership interests in Shoreham Energy Holdings, LLC are held by a tax equity investor.
Schedule of Unaudited Proforma Financial Information
The following unaudited pro forma financial information presents the consolidated results of operations of the Company as if the business combination had occurred on January 1, 2025:
Three months ended June 30,Six months ended June 30,
(In millions)2026202520262025
Operating revenues$481 $409 $846 $722 
Net income (loss)28 19 (46)(85)