Segments (Tables)

6 Months Ended

Jun. 30, 2023

The following tables present financial information by segment for the periods indicated (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
Total Revenue	2023		2022		2023		2022
Renewables SBU	$	541	$	455	$	1,036	$	875
Utilities SBU	852		821		1,823		1,680
Energy Infrastructure SBU	1,654		1,820		3,378		3,427
New Energy Technologies SBU	1		2		75		2
Corporate and Other	40		34		67		57
Eliminations	(61)		(54)		(113)		(111)
Total Revenue	$	3,027	$	3,078	$	6,266	$	5,930


	Three Months Ended June 30,				Six Months Ended June 30,
Reconciliation of Adjusted EBITDA (in millions)	2023		2022		2023		2022
Net income	$	(19)	$	(136)	$	170	$	35
Income tax expense (benefit)	(2)		(19)		70		41
Interest expense	310		279		640		537
Interest income	(131)		(95)		(254)		(170)
Depreciation and amortization	277		264		550		534
EBITDA	$	435	$	293	$	1,176	$	977

Less: Adjustment for noncontrolling interests and redeemable stock of subsidiaries (1)	(155)		(156)		(325)		(312)
Less: Income taxes expense (benefit), interest expense (income) and depreciation and amortization from equity affiliates	27		23		66		57
Interest income recognized under service concession arrangements	18		20		36		39
Unrealized derivative and equity securities losses (gains)	32		(34)		(7)		8
Unrealized foreign currency losses	32		38		64		20
Disposition/acquisition losses	16		23		13		32
Impairment losses	164		479		173		480
Loss on extinguishment of debt	—		—		1		6

Adjusted EBITDA	$	569	$	686	$	1,197	$	1,307

_____________________________

(1)The allocation of earnings to tax equity investors from both consolidated entities and equity affiliates is removed from Adjusted EBITDA.


	Three Months Ended June 30,				Six Months Ended June 30,
Adjusted EBITDA	2023		2022		2023		2022
Renewables SBU	$	166	$	162	$	290	$	281
Utilities SBU	148		135		310		319
Energy Infrastructure SBU	282		379		645		733
New Energy Technologies SBU	(13)		(26)		(39)		(61)
Corporate and Other	13		(3)		12		1
Eliminations	(27)		39		(21)		34
Adjusted EBITDA	$	569	$	686	$	1,197	$	1,307

The Company uses long-lived assets as its measure of segment assets. Long-lived assets includes amounts recorded in Property, plant and equipment, net and right-of-use assets for operating leases recorded in Other noncurrent assets on the Condensed Consolidated Balance Sheets.


Long-Lived Assets	June 30, 2023		December 31, 2022
Renewables SBU	$	12,220	$	9,533
Utilities SBU	6,602		6,311
Energy Infrastructure SBU	7,613		7,532
New Energy Technologies SBU	1		2

Corporate and Other	16		17
Long-Lived Assets	26,452		23,395
Current assets	7,205		7,643
Investments in and advances to affiliates	858		952
Debt service reserves and other deposits	171		177
Goodwill	362		362
Other intangible assets	2,282		1,841
Deferred income taxes	383		319
Loan receivable	1,018		1,051
Other noncurrent assets, excluding right-of-use assets for operating leases	2,774		2,623
Total Assets	$	41,505	$	38,363