Segments (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Revenue By Segment Table

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

	Three Months Ended March 31,
Total Revenue	2024		2023
Renewables SBU	$	619	$	495
Utilities SBU	873		971
Energy Infrastructure SBU	1,614		1,724
New Energy Technologies SBU	—		74
Corporate and Other	33		27
Eliminations	(54)		(52)
Total Revenue	$	3,085	$	3,239

	Three Months Ended March 31,
Reconciliation of Adjusted EBITDA (in millions)	2024		2023
Net income	$	278	$	189
Income tax expense (benefit)	(16)		72
Interest expense	357		330
Interest income	(105)		(123)
Depreciation and amortization	312		273
EBITDA	$	826	$	741
Less: Adjustment for noncontrolling interests and redeemable stock of subsidiaries (1)	(162)		(170)
Less: Income tax expense (benefit), interest expense (income) and depreciation and amortization from equity affiliates	33		39
Interest income recognized under service concession arrangements	17		18
Unrealized derivatives, equity securities, and financial assets and liabilities gains	(85)		(39)
Unrealized foreign currency losses (gains)	(9)		32
Disposition/acquisition gains	(43)		(3)
Impairment losses	26		9
Loss on extinguishment of debt and troubled debt restructuring	32		1
Adjusted EBITDA	$	635	$	628

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

	Three Months Ended March 31,
Adjusted EBITDA	2024		2023
Renewables SBU	$	102	$	124
Utilities SBU	182		162
Energy Infrastructure SBU	360		363
New Energy Technologies SBU	(17)		(26)
Corporate and Other	8		(1)
Eliminations	—		6
Adjusted EBITDA	$	635	$	628

The Company uses long-lived assets as its measure of segment assets. Long-lived assets include 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	March 31, 2024		December 31, 2023
Renewables SBU	$	17,021	$	15,735
Utilities SBU	7,694		7,166
Energy Infrastructure SBU	7,536		7,414
New Energy Technologies SBU	15		14
Corporate and Other	26		9
Long-Lived Assets	32,292		30,338
Current assets	7,170		6,649
Investments in and advances to affiliates	1,029		941
Debt service reserves and other deposits	199		194
Goodwill	348		348
Other intangible assets	2,258		2,243
Deferred income taxes	395		396
Other noncurrent assets, excluding right-of-use assets for operating leases	2,606		2,879
Noncurrent held-for-sale assets	748		811
Total Assets	$	47,045	$	44,799