Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Balance Sheet Included Balances for VPFS and OSWP

The Companies’ Consolidated Balance Sheets included balances for VPFS as follows:


		June 30, 2025				December 31, 2024
(millions)
Assets
Prepayments(1)		$	—			$	—
Regulatory assets-current			119				124
Other current assets(2)			51				41
Regulatory assets-noncurrent			955				1,040
Total assets		$	1,125			$	1,205
Liabilities
Securities due within one year		$	167			$	163
Accrued interest, payroll and taxes			10				10
Securitization bonds			969				1,054
Total liabilities		$	1,146			$	1,227

(1)

Prepayments are presented in other current assets in the Companies’ Consolidated Balance Sheets.

(2)

See Note 2 for additional information about restricted cash and equivalents at VPFS.

The Companies’ Consolidated Balance Sheets included balances for OSWP as follows:


		June 30, 2025				December 31, 2024
(millions)
Assets
Cash and cash equivalents		$	131			$	70
Customer receivables			—				—
Prepayments(1)			3				10
Regulatory assets-current			2				6
Property, plant and equipment			7,294				5,844
Regulatory assets-noncurrent			117				52
Other deferred charges and other assets			6				—
Total assets		$	7,553			$	5,982
Liabilities
Accounts payable		$	1			$	—
Accrued interest, payroll and taxes			1				—
Other current liabilities			8				—
Asset retirement obligations- noncurrent(2)			106				38
Other deferred credits and other liabilities			—				—
Total liabilities		$	116			$	38

(1)

Prepayments are presented in other current assets in the Companies’ Consolidated Balance Sheets.

(2)

Asset retirement obligation-noncurrent are presented in other deferred credits and other liabilities in the Companies’ Consolidated Balance Sheets.