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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net (Loss)/Income $ (1,335) $ 1,736
Adjustments to reconcile net (loss)/income to cash (used)/provided by operating activities:    
Distributions from and equity in (earnings)/losses of unconsolidated affiliates (5) 18
Depreciation and amortization 190 183
Accretion of asset retirement obligations 6 7
Provision for credit losses 35 25
Amortization of nuclear fuel 13 14
Amortization of financing costs and debt discounts 20 6
Amortization of in-the-money contracts and emissions allowances 119 147
Amortization of unearned equity compensation 30 6
Net gain on sale of assets and disposal of assets (187) (6)
Changes in derivative instruments 1,599 (2,816)
Changes in current and deferred income taxes and liability for uncertain tax benefits (338) 575
Changes in collateral deposits in support of risk management activities (1,412) 2,007
Changes in nuclear decommissioning trust liability (16) (7)
Changes in other working capital (317) (219)
Cash (used)/provided by operating activities (1,598) 1,676 Close
Cash Flows from Investing Activities    
Payments for acquisitions of businesses and assets, net of cash acquired (2,492) (26)
Capital expenditures (142) (60)
Net purchases of emission allowances (18) (18)
Investments in nuclear decommissioning trust fund securities (87) (151)
Proceeds from the sale of nuclear decommissioning trust fund securities 99 161
Proceeds from sales of assets, net of cash disposed 219 14
Proceeds from insurance recoveries for property, plant and equipment, net 71 0
Cash used by investing activities (2,350) (80) Close
Cash Flows from Financing Activities    
Proceeds from issuance of preferred stock, net of fees 636 0
Payments of dividends to common stockholders (87) (85)
Payments for share repurchase activity (8) (188)
Net receipts from settlement of acquired derivatives that include financing elements 336 561
Net proceeds of Revolving Credit Facility and Receivables Securitization Facilities 950 0
Proceeds from issuance of long-term debt 731 0
Payments of debt issuance costs (18) 0
Repayments of long-term debt and finance leases (4) (1)
Cash provided by financing activities 2,536 287 Close
Effect of exchange rate changes on cash and cash equivalents 3 3 Close
Net (Decrease)/Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash (1,409) 1,886 Close
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period 2,178 1,110
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period $ 769 $ 2,996