Segments (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Consolidated Segment and Reconciliation

Financial data for the segments and reconciliation to consolidated results are:

	PJM		Other		Corporate and Eliminations		Total
Three Months Ended June 30, 2024 (Successor)
Operating revenues	$	438	$	58	$	(7)	$	489
Interest expense	—		—		62		62
Capital expenditures	14		—		—		14
Adjusted EBITDA	95		5				100
May 18 through June 30, 2023 (Successor)
Operating revenues	$	355	$	(30)	$	(24)	$	301
Interest expense	—		—		33		33
Capital expenditures	23		10		1		34
Adjusted EBITDA	72		21				93
April 1 through May 17, 2023 (Predecessor)
Operating revenues	$	78	$	81	$	(22)	$	137
Interest expense	—		—		59		59
Capital expenditures	38		19		—		57
Adjusted EBITDA	44		3				47

	PJM		Other		Corporate and Eliminations		Total
Six Months Ended June 30, 2024 (Successor)
Operating revenues	$	871	$	208	$	(81)	$	998
Interest expense	—		—		121		121
Capital expenditures	66		14		—		80
Adjusted EBITDA	375		43				418
May 18 through June 30, 2023 (Successor)
Operating revenues	$	355	$	(30)	$	(24)	$	301
Interest expense	—		—		33		33
Capital expenditures	23		10		1		34
Adjusted EBITDA	72		21				93
January 1 through May 17, 2023 (Predecessor)
Operating revenues	$	1,054	$	193	$	(37)	$	1,210
Interest expense	—		—		163		163
Capital expenditures	132		53		2		187
Adjusted EBITDA	688		37				725

	Successor				Predecessor		Successor				Predecessor
	Three Months Ended June 30, 2024		May 18 through June 30, 2023		April 1 through May 17, 2023		Six Months Ended June 30, 2024		May 18 through June 30, 2023		January 1 through May 17, 2023
Adjusted EBITDA:
PJM	$	95	$	72	$	44	$	375	$	72	$	688
Other	5		21		3		43		21		37
Total Adjusted EBITDA	$	100	$	93	$	47	$	418	$	93	$	725
Reconciling Items:
Interest expense and other finance charges	(62)		(33)		(59)		(121)		(33)		(163)
Income tax benefit (expense)	(112)		(19)		(198)		(181)		(19)		(212)
Depreciation, amortization and accretion	(75)		(28)		(68)		(150)		(28)		(200)
Nuclear fuel amortization	(28)		(25)		(9)		(63)		(25)		(33)
Reorganization gain (loss), net	—		—		838		—		—		799
Unrealized (gain) loss on commodity derivative contracts	91		41		(94)		(44)		41		(63)
Nuclear decommissioning trust funds gain (loss), net	27		39		11		102		39		57
Stock-based compensation expense	(8)		(16)		—		(16)		(16)		—
Long-term incentive compensation expense	(6)		—		—		(16)		—		—
Gain (loss) on asset sales, net	561		—		15		885		—		50
Non-cash impairments	—		—		(16)		—		—		(381)
Operational and other restructuring activities	(19)		(12)		(9)		(21)		(12)		(17)
Development expenses	—		(2)		(3)		—		(2)		(10)
Non-cash inventory net realizable value, obsolescence, and other charges	(2)		(3)		(32)		(3)		(3)		(56)
Noncontrolling interest	7		8		9		18		8		14
Other items	(3)		2		(1)		11		2		(15)
Corporate and Eliminations	(13)		(14)		(12)		(42)		(14)		(30)
Net Income (Loss)	$	458	$	31	$	419	$	777	$	31	$	465