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Segment Reporting
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company’s segment structure reflects how management currently operates and allocates resources. The Company's businesses are segregated based on conventional power generation, renewable businesses which consist of solar and wind, and the thermal and chilled water business. The Corporate segment reflects the Company's corporate costs and includes eliminating entries. The Company's chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, and CAFD, as well as economic gross margin and net income (loss).
The Company generated more than 10% of its revenues from the following customers for the years ended December 31, 2019, 2018 and 2017:
 
2019
 
2018
 
2017
Customer
Conventional (%)
 
Renewables (%)
 
Conventional (%)
 
Renewables (%)
 
Conventional (%)
 
Renewables (%)
SCE
21%
 
19%
 
20%
 
20%
 
21%
 
20%
PG&E
12%
 
10%
 
12%
 
11%
 
12%
 
11%


Year ended December 31, 2019
(In millions)
Conventional Generation

Renewables

Thermal

Corporate

Total
Operating revenues
$
346


$
485


$
201


$


$
1,032

Cost of operations
61

 
147

 
134




342

Depreciation and amortization
102


267


27




396

Impairment losses

 
14

 
19

 

 
33

General and administrative


1


3


25


29

Acquisition-related transaction and integration costs

 

 

 
3

 
3

Development costs

 

 
5

 

 
5

Operating income (loss)
183

 
56

 
13

 
(28
)
 
224

Equity in earnings of unconsolidated affiliates
9


74






83

Other income, net
2

 
6

 

 
1

 
9

Loss on debt extinguishment


 
(1
)
 

 
(15
)
 
(16
)
Interest expense, net
(59
)

(239
)

(18
)

(88
)

(404
)
Income (loss) before income taxes
135


(104
)

(5
)

(130
)

(104
)
Income tax benefit






(8
)

(8
)
Net Income (Loss)
135


(104
)

(5
)

(122
)

(96
)
Net Income (Loss) Attributable to Clearway Energy, Inc.
$
135

 
$
(33
)
 
$
(5
)
 
$
(108
)
 
$
(11
)
Balance Sheet














Equity investment in affiliates
$
94


$
1,089


$


$


$
1,183

Capital expenditures (a)
4


185


34




223

Total Assets
$
2,753


$
6,186


$
633


$
128


$
9,700


 
(a) Includes accruals.

 
Year ended December 31, 2018
(In millions)
Conventional Generation
 
Renewables
 
Thermal
 
Corporate
 
Total
Operating revenues
$
337

 
$
523

 
$
193

 
$

 
$
1,053

Cost of operations
62

 
143

 
127

 

 
332

Depreciation and amortization
101

 
207

 
23

 

 
331

General and administrative

 

 
1

 
19

 
20

Acquisition-related transaction and integration costs

 

 

 
20

 
20

Development costs

 

 
2

 
1

 
3

Operating income (loss)
174

 
173

 
40

 
(40
)
 
347

Equity in earnings of unconsolidated affiliates
11

 
63

 

 

 
74

Other income, net
1

 
4

 
1

 
2

 
8

Loss on debt extinguishment

 

 

 
(7
)
 
(7
)
Interest expense, net
(51
)
 
(154
)
 
(12
)
 
(89
)
 
(306
)
Income (loss) before income taxes
135

 
86

 
29

 
(134
)
 
116

Income tax expense

 

 

 
62

 
62

Net Income (Loss)
135

 
86

 
29

 
(196
)
 
54

Net Income (Loss) Attributable to Clearway Energy, Inc.
$
135

 
$
186

 
$
29

 
$
(302
)
 
48

Balance Sheet
 
 
 
 
 
 
 
 
 
Equity investments in affiliates
$
98

 
$
1,074

 
$

 
$

 
$
1,172

Capital expenditures (a)
14

 
26

 
28

 

 
68

Total Assets
$
1,788

 
$
5,836

 
$
516

 
$
360

 
$
8,500


 

(a) Includes accruals.
 
Year ended December 31, 2017
(In millions)
Conventional Generation
 
Renewables
 
Thermal
 
Corporate
 
Total
Operating revenues
$
336

 
$
501

 
$
172

 
$

 
$
1,009

Cost of operations
77

 
133

 
116

 

 
326

Depreciation and amortization
103

 
210

 
21

 

 
334

Impairment losses

 
44

 

 

 
44

General and administrative

 

 

 
19

 
19

Acquisition-related transaction and integration costs

 

 

 
3

 
3

Operating income (loss)
156

 
114

 
35

 
(22
)
 
283

Equity in earnings of unconsolidated affiliates
12

 
59

 

 

 
71

Other income, net
1

 
2

 

 
1

 
4

Loss on debt extinguishment

 
(3
)
 

 

 
(3
)
Interest expense, net
(49
)
 
(164
)
 
(10
)
 
(84
)
 
(307
)
Income (loss) before income taxes
120

 
8

 
25

 
(105
)
 
48

Income tax expense

 

 

 
72

 
72

Net Income (Loss)
120

 
8

 
25

 
(177
)
 
(24
)
Net Income (Loss) Attributable to Clearway Energy, Inc.
$
120

 
$
76

 
$
25

 
$
(237
)
 
(16
)