XPLR Infrastructure, LP

Listed Company

XIFRCIK 0001603145NYSELarge AcceleratedElectric ServicesFY ends Dec 31

Period

FY 2025

Revenue

$1.19B

Net Income

$-28.00M

Total Assets

$19.59B

Equity

—

Shares Out

93.97M

Op. Cash Flow

$739.00M

Business

XPLR Infrastructure, LP owns a partial interest in a contracted clean energy infrastructure portfolio through XPLR OpCo, operating as a major U.S. generator of wind and solar energy and owner of battery storage and pipeline assets. It provides electricity generation and related renewable energy attributes from wind, solar, solar-plus-storage and stand‑alone battery projects, and holds an equity investment in natural gas pipeline capacity. Its operations are organized into contracted clean energy projects and a pipeline investment, with management and O&M services provided under agreements with NEE/NEER. XPLR’s portfolio is diversified across 31 U.S. states and sells the majority of its output under long‑term, fixed‑price power purchase agreements to utilities and other counterparties.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	1,188	1,230	1,078	969	722
Operations and maintenance(b)	498	504	520	527	374
Depreciation and amortization	564	550	521	394	251
Goodwill impairment charge	253	575	0	0	—
Taxes other than income taxes and other net	68	73	65	40	28
Total operating expenses net	1,383	1,702	1,106	961	653
GAINS ON DISPOSAL OF BUSINESSES/ASSETS NET	9	13	0	36	−5
OPERATING LOSS	−186	−459	−28	44	64
Interest expense	−437	−145	−345	848	50
Equity in earnings of equity method investees	127	85	81	177	158
Equity in earnings (losses) of non-economic ownership interests	−3	18	4	56	27
Other net	22	47	9	5	4
Total other income (deductions) net	−291	5	−251	1,086	239
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	−477	−454	−279	1,130	303
INCOME TAX BENEFIT	−78	−42	−25	161	37
LOSS FROM CONTINUING OPERATIONS	−399	−412	−254	969	266
Loss from discontinued operations	−37	1	472	152	158
NET INCOME (LOSS)	−436	−411	218	1,121	424
Net Income (Loss) Attributable to Noncontrolling Interest	408	388	−18	−644	−287
NET INCOME (LOSS) ATTRIBUTABLE TO XPLR	−28	−23	200	477	137
Continuing operation, basic(in usd per share)	−0.07	−0.13	0.35	5.24	1.34
Discontinued operations, basic (in usd per share)	−0.23	−0.12	1.83	0.38	0.43
Earnings (loss) per common unit attributable to XPLR Infrastructure, LP - assuming dilution (usd per share)	−0.3	−0.25	2.18	5.62	1.77
Earnings Per Share, Basic, Assuming Dilution	−0.07	−0.13	0.35	5.24	—
Earnings Per Share, Basic, Assuming Dilution, Discontinued Operations	−0.23	−0.12	1.83	0.38	—
Earnings Per Share, Assuming Dilution	−0.3	−0.25	2.18	5.62	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	960	283	274	226	147
Accounts receivable	102	105	114	117	112
Other receivables	93	86	64	41	24
Inventory	103	108	82	49	41
Other Assets, Current	121	130	107	207	25
Total current assets	1,422	860	2,216	1,862	1,410
Property, plant and equipment net	15,366	14,555	14,837	14,191	11,417
Goodwill	0	253	833	812	891
Investments in equity method investees	625	631	617	1,875	1,896
Assets held for sale	0	1,153	1,236	1,408	—
Other	534	1,023	785	894	265
Total other assets	18,173	19,432	20,295	21,190	17,566
TOTAL ASSETS	19,595	20,292	22,511	23,052	18,976
Accounts payable and accrued expenses	58	65	72	867	982
Current portion of long-term debt	762	705	1,348	38	33
Accrued interest	103	46	38	28	26
Accrued property taxes	29	32	43	23	25
Other	118	80	83	262	65
Total current liabilities	1,568	1,087	1,671	1,326	1,261
Long-term debt	5,440	4,609	4,941	5,250	5,294
Asset retirement obligations	373	366	331	299	243
Other	188	200	248	195	204
Total other liabilities and deferred credits	7,128	6,339	6,783	6,954	6,556
TOTAL LIABILITIES	8,696	7,426	8,454	8,280	7,817
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Common units (94.0 and 93.5 units issued and outstanding, respectively)	3,195	3,221	3,576	3,332	2,985
Accumulated other comprehensive loss	−5	−6	−7	−7	−8
Noncontrolling interests	7,709	9,651	10,488	11,346	7,861
TOTAL EQUITY	10,899	12,866	14,057	14,671	10,838
TOTAL LIABILITIES AND EQUITY	19,595	20,292	22,511	23,052	18,976

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	564	550	553	430	288
Intangible amortization PPAs	83	82	82	143	117
Change in value of derivative contracts	185	−91	284	−1,034	−189
Deferred income taxes	−42	1	34	171	46
Equity in earnings of equity method investees, net of distributions received	29	73	32	3	21
Equity in earnings (losses) of non-economic ownership interests, net of distributions received	16	3	−4	−50	−21
Gains on disposal of businesses/assets net	−9	−13	−375	−36	5
Other net	32	17	20	10	11
Current assets	7	−17	−34	−43	—
Noncurrent assets	1	−13	−81	−2	−7
Current liabilities	26	45	−14	63	−10
Noncurrent liabilities	30	−1	16	0	−2
Net cash provided by operating activities	739	800	731	776	677
Acquisitions of membership interests in subsidiaries net	0	0	−661	−989	−2,352
Capital expenditures and other investments	−958	−241	−1,269	−1,351	−113
Proceeds from sale of a business	0	0	1,885	204	0
Proceeds from sale of equity method investments	1,139	0	0	—	—
Payments from (to) related parties under CSCS agreement net	116	1,384	−1,213	−240	−47
Distributions from non-economic ownership interests	309	0	0	0	90
Reimbursements from related parties for capital expenditures	0	66	1,063	1,161	15
Other net	24	27	1	6	30
Net cash provided by (used in) investing activities	630	1,236	−194	−1,194	−2,301
Proceeds from issuance of common units net	4	3	315	147	—
Issuances of long-term debt, including premiums and discounts	3,448	354	2,362	1,505	2,880
Retirements of long-term debt	−2,503	−1,345	−1,523	−1,544	−1,159
Debt issuance costs	−73	−2	−12	−17	−12
Partner contributions	50	63	0	2	2
Partner distributions	−421	−816	−741	−636	−619
Proceeds on sale of Class B noncontrolling interests net	0	0	177	1,115	893
Payments to Class B noncontrolling interest investors	−86	−92	−146	−163	−80
Buyout of Class B noncontrolling interest investors	−1,150	−254	−972	0	−265
Proceeds on sale of differential membership interests	0	0	92	101	48
Proceeds from differential membership investors	178	173	153	137	74
Payments to differential membership investors	−34	−59	−38	−36	−35
Buyout of differential membership investors	−75	−16	−187	—	—
Other net	−12	−11	−7	−11	−13
Net cash used in financing activities	−674	−2,002	−527	551	1,663
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	695	34	10	133	39
Cash paid for interest, net of amounts capitalized	167	193	250	154	126
Cash received for income taxes net	45	47	1	0	2
Change in noncash investments in non-economic ownership interests net	0	216	−9	−1	127
Accrued property additions	495	72	77	846	971

Filings

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