Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Stockholders' Equity

v3.26.1
Consolidated Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Millions
Total
2026 Q1 Dividends
2025 Q1 Dividends
Common Stock
Treasury Stock
Additional Paid-in Capital
Retained Earnings
NCI
Redeemable NCI
Common Stock, Shares, Outstanding, Beginning of Period at Dec. 31, 2024       224,000          
Treasury Stock, Shares, Beginning of Period at Dec. 31, 2024         54,700        
Stockholders' Equity, Beginning of Period at Dec. 31, 2024 $ 10,053     $ 1 $ (6,136) $ 4,452 $ 7,382 $ 4,354  
Redeemable NCI, Equity, Carrying Amount at Dec. 31, 2024 [1]                 $ 7
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest 670           353 317  
Net Income (Loss) Attributable to Redeemable NCI [1]                 (2)
Dividends declared $ (113)           (113)    
Shares repurchased, at cost and inclusive of excise taxes, shares 1,600     (1,600) 1,600        
Shares repurchased, at cost and inclusive of excise taxes $ (352)       $ (352)        
Accretion of redeemable non-controlling interest, net of tax [2] (2)           (2)   2 [1]
Distributions to NCI (200)             (200)  
Contributions from redeemable NCI 38               38 [1]
Vesting of share-based compensation awards, shares       400          
Share-based compensation 40         40      
Issued shares withheld from employees related to share-based compensation, at cost (44)         (44)      
Common Stock, Shares, Outstanding, End of Period at Mar. 31, 2025       222,800          
Treasury Stock, Shares, End of Period at Mar. 31, 2025         56,300        
Stockholders' Equity, End of Period at Mar. 31, 2025 $ 10,052     $ 1 $ (6,488) 4,448 7,620 4,471  
Redeemable NCI, Equity, Carrying Amount at Mar. 31, 2025 [1]                 45
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Common Stock, Dividends, Per Share, Declared     $ 0.50            
Common Stock, Shares, Outstanding, Beginning of Period at Dec. 31, 2025       212,400          
Treasury Stock, Shares, Beginning of Period at Dec. 31, 2025 66,800       66,800        
Stockholders' Equity, Beginning of Period at Dec. 31, 2025 $ 12,942     $ 1 $ (8,852) 4,523 12,243 5,027  
Redeemable NCI, Equity, Carrying Amount at Dec. 31, 2025 136               136 [1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest (3,410)           (3,502) 92  
Net Income (Loss) Attributable to Redeemable NCI [1]                 (2)
Dividends declared $ (117)           (117)    
Shares repurchased, at cost and inclusive of excise taxes, shares 2,650     (2,700) 2,700        
Shares repurchased, at cost and inclusive of excise taxes $ (542)       $ (542)        
Accretion of redeemable non-controlling interest, net of tax [2] (2)           (2)   2 [1]
Distributions to NCI (202)             (202)  
Contributions from redeemable NCI 0                
Vesting of share-based compensation awards, shares       400          
Share-based compensation 39         39      
Issued shares withheld from employees related to share-based compensation, at cost $ (36)         (36)      
Redemption of Redeemable NCI [1]                 (136)
Common Stock, Shares, Outstanding, End of Period at Mar. 31, 2026       210,100          
Treasury Stock, Shares, End of Period at Mar. 31, 2026 69,500       69,500        
Stockholders' Equity, End of Period at Mar. 31, 2026 $ 8,672     $ 1 $ (9,394) $ 4,526 $ 8,622 $ 4,917  
Redeemable NCI, Equity, Carrying Amount at Mar. 31, 2026 $ 0               $ 0 [1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Common Stock, Dividends, Per Share, Declared   $ 0.555              
[1] Redeemable NCI represents the economic interest held by a third party in one of our consolidated VIEs that was redeemable for cash under certain circumstances, including those that are outside of our control. As such, the economic interest was not a component of permanent equity on our Consolidated Balance Sheets. In January 2026, we redeemed the remaining redeemable NCI in our consolidated VIE that has an equity interest in the Gregory Power Plant, as described in Note 6—Non-Controlling Interests and Variable Interest Entities, at a price that approximated our carrying value. As of March 31, 2026, we owned 100% of the equity interest in this entity.
[2] Amount in retained earnings presented net of tax.