v3.26.3
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($)
$ in Millions
Total
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
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, 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 (23)                        
Accumulated OCI (OCL) ending balance at Sep. 30, 2025 5,685     0 1 1,689   358   (13) 3,650    
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, 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    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net (loss) income 222             232     (10)    
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax (5)                 (3) (2)    
Contributions from CEG, net of distributions, cash   5 144                 5 144
Transfers of assets under common control (143)                   (143)    
Buyout of noncontrolling interest (3)                   (3)    
Non-cash adjustments for change in tax basis 18         18              
Stock-based compensation 1         1              
Common stock dividends and distributions to CEG unit holders   (90)             (53)     (37)  
Other 1             1          
Accumulated OCI (OCL) ending balance at Sep. 30, 2025 5,685     0 1 1,689   358   (13) 3,650    
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 161                        
Accumulated OCI (OCL) ending balance at Sep. 30, 2026 5,644     0 1 1,732   104   77 3,730    
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    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net (loss) income 152             51     101    
Unrealized gain (loss) on derivatives and changes in accumulated OCL, net of tax 132                 62 70    
Distributions to noncontrolling interests, net of contributions, cash     $ (28)                   $ (28)
Contributions from CEG, net of distributions, cash   6                   6  
Transfers of assets under common control 4                 6 (2)    
Non-cash adjustments for change in tax basis 1         1              
Stock-based compensation 1         1              
Common stock dividends and distributions to CEG unit holders   $ (98)             $ (58)     $ (40)  
Other 1                   1    
Accumulated OCI (OCL) ending balance at Sep. 30, 2026 $ 5,644     $ 0 $ 1 $ 1,732   $ 104   $ 77 $ 3,730