v3.26.3
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents $ 333 $ 231
Restricted cash 413 587
Inventory 89 75
Derivative instruments 122 29
Prepayments and other current assets 86 67
Total current assets 1,287 1,152
Property, plant and equipment, net 12,111 11,596
Other Assets    
Equity investments in affiliates 391 291
Intangible assets for power purchase agreements, net 2,271 2,294
Other intangible assets, net 63 66
Deferred income taxes 0 172
Derivative instruments 292 127
Right-of-use assets, net 768 714
Other non-current assets 190 243
Total other assets 3,975 3,907
Total Assets 17,373 16,655
Current Liabilities    
Current portion of long-term debt 539 708
Derivative instruments 11 52
Accrued interest expense 43 52
Accrued expenses and other current liabilities 82 79
Total current liabilities 878 1,018
Other Liabilities    
Long-term debt 8,897 7,898
Deferred income taxes 175 45
Derivative instruments 61 308
Long-term lease liabilities 823 796
Other non-current liabilities 772 676
Total other liabilities 10,728 9,723
Total Liabilities 11,606 10,741
Redeemable noncontrolling interest in subsidiaries 123 103
Commitments and Contingencies
Stockholders’ Equity    
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued 0 0
Class B, Class C and Class D common stock, $0.01 par value; 2,500,000,000 shares authorized (Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 205,274,852 shares issued and outstanding (Class B 42,738,750, Class C 121,174,960, Class D 41,361,142) at September 30, 2026 and 203,773,674 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 84,844,929, Class D 41,576,142) at December 31, 2025 1 1
Additional paid-in capital 1,732 1,715
Retained earnings 104 213
Accumulated other comprehensive income (loss) 77 (5)
Noncontrolling interest 3,730 3,887
Total Stockholders’ Equity 5,644 5,811
Total Liabilities and Stockholders’ Equity 17,373 16,655
Nonrelated Party    
Current Assets    
Accounts receivable 244 162
Current Liabilities    
Accounts payable — trade 173 95
Affiliated Entity    
Current Assets    
Accounts receivable 0 1
Current Liabilities    
Accounts payable — affiliates $ 30 $ 32