v3.26.1
Property, Plant, and Equipment
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant, and Equipment PROPERTY, PLANT, AND EQUIPMENT
Our property, plant, and equipment consist of our power generation assets, related mining assets, land, information systems hardware, capitalized corporate office lease space, and other leasehold improvements. Land and construction work in progress are not depreciated.
June 30,
2026		December 31,
2025
(in millions)
Power generation and structures and office and other equipment$25,814 $25,084 
Land636 637 
Construction work in progress1,841 1,917 
Finance lease right-of-use assets192 190 
Nuclear fuel2,183 2,036 
Property, plant, and equipment — gross30,666 29,864 
Less accumulated depreciation(9,981)(9,273)
Less finance lease right-of-use assets accumulated amortization(40)(41)
Less accumulated amortization of nuclear fuel(701)(704)
Property, plant, and equipment — net$19,944 $19,846 

Depreciation and amortization of property, plant, and equipment consisted of the following:
Property, Plant, and EquipmentCondensed Consolidated Statements of OperationsThree Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in millions)
Power generation and structures and office and other equipmentDepreciation and amortization$415 $497 $869 $976 
Finance lease right-of-use assetsDepreciation and amortization3 2 5 4 
Nuclear fuelFuel, purchased power costs, and delivery fees116 122 242 237 
Total property, plant, and equipment expense$534 $621 $1,116 $1,217 

Retirement and Repowering of Generation Facilities

Below are our operating facilities that have an announced retirement date. Operating results for generation facilities with defined retirement dates, excluding facilities that will be repowered to gas-fueled facilities, are included in our Asset Closure segment in the calendar year following the year in which the retirement occurs. The Moss Landing 300 MW and Moss Landing 100 MW battery facilities were transferred to the Asset Closure segment during the first quarter of 2025 and the fourth quarter of 2025, respectively, as we do not plan to return those assets to operations. See Note 9 for additional information.
FacilityLocationISO/RTOFuel TypeNet Capacity (MW)Expected Coal Retirement Date Segment
BaldwinBaldwin, ILMISOCoal1,185By the end of 2027 (a)East
Coleto CreekGoliad, TXERCOTCoal650By the end of 2026Texas
KincaidKincaid, ILPJMCoal1,108By the end of 2027 (a)East
Miami FortNorth Bend, OHPJMCoal1,020By the middle of 2028East
NewtonNewton, ILMISOCoal615By the end of 2027 (a)East
Total4,578
____________
(a)Expected retirement dates may change if economic or other conditions dictate, or if we are required to continue running the plants for grid reliability reasons.

The Company intends to repower Coleto Creek and Miami Fort as gas-fueled facilities upon their retirements as coal-fueled facilities. We are currently evaluating the feasibility of repowering the other coal-fueled facilities with expected retirement dates in 2027 to gas-fueled facilities.
Impairment of Long-Lived Assets

In the three and six months ended June 30, 2025, we recognized impairment losses of approximately $68 million related to development projects we have no plans to complete.