Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Revenue By Segment Table

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

	Three Months Ended September 30,				Nine Months Ended September 30,
Total Revenue	2023		2022		2023		2022
Renewables SBU	$	708	$	532	$	1,744	$	1,407
Utilities SBU	880		994		2,703		2,674
Energy Infrastructure SBU	1,861		2,126		5,239		5,553
New Energy Technologies SBU	—		—		75		2
Corporate and Other	29		24		96		81
Eliminations	(44)		(49)		(157)		(160)
Total Revenue	$	3,434	$	3,627	$	9,700	$	9,557

	Three Months Ended September 30,				Nine Months Ended September 30,
Reconciliation of Adjusted EBITDA (in millions)	2023		2022		2023		2022
Net income	$	291	$	446	$	461	$	481
Income tax expense	109		145		179		186
Interest expense	326		276		966		813
Interest income	(144)		(100)		(398)		(270)
Depreciation and amortization	286		266		836		800
EBITDA	$	868	$	1,033	$	2,044	$	2,010
Less: Adjustment for noncontrolling interests and redeemable stock of subsidiaries (1)	(183)		(174)		(508)		(486)
Less: Income tax expense (benefit), interest expense (income) and depreciation and amortization from equity affiliates	27		36		93		93
Interest income recognized under service concession arrangements	18		19		54		58
Unrealized derivative and equity securities losses (gains)	10		(8)		3		—
Unrealized foreign currency losses	97		3		161		23
Disposition/acquisition losses	8		4		21		36
Impairment losses	145		17		318		497
Loss on extinguishment of debt	—		1		1		7
Adjusted EBITDA	$	990	$	931	$	2,187	$	2,238

_____________________________

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

	Three Months Ended September 30,				Nine Months Ended September 30,
Adjusted EBITDA	2023		2022		2023		2022
Renewables SBU	$	267	$	195	$	557	$	476
Utilities SBU	216		137		526		456
Energy Infrastructure SBU	520		620		1,165		1,353
New Energy Technologies SBU	(22)		(27)		(61)		(88)
Corporate and Other	8		9		20		10
Eliminations	1		(3)		(20)		31
Adjusted EBITDA	$	990	$	931	$	2,187	$	2,238

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	September 30, 2023		December 31, 2022
Renewables SBU	$	13,618	$	9,533
Utilities SBU	6,809		6,311
Energy Infrastructure SBU	7,467		7,532
New Energy Technologies SBU	8		2
Corporate and Other	10		17
Long-Lived Assets	27,912		23,395
Current assets	7,317		7,643
Investments in and advances to affiliates	894		952
Debt service reserves and other deposits	205		177
Goodwill	362		362
Other intangible assets	2,290		1,841
Deferred income taxes	428		319
Loan receivable	990		1,051
Other noncurrent assets, excluding right-of-use assets for operating leases	2,763		2,623
Total Assets	$	43,161	$	38,363