v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income (loss) $ 962 $ 1,692
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 1,300 1,388
Deferred income taxes and amortization of ITCs 14 191
Net fair value changes related to derivatives 188 (776)
Net realized and unrealized (gains) losses on NDT funds (336) (197)
Net realized and unrealized (gains) losses on equity investments 275 11
Other non-cash operating activities (21) (65)
Changes in assets and liabilities:    
Accounts receivable 208 771
Inventories 17 58
Accounts payable and accrued expenses (229) (207)
Option premiums received (paid), net 18 129
Collateral received (posted), net (242) 868
Income taxes 209 (86)
Pension and non-pension postretirement benefit contributions (181) (188)
Other assets and liabilities (598) (4,925)
Net cash flows provided by (used in) operating activities 1,584 (1,336)
Cash flows from investing activities    
Capital expenditures (1,573) (1,284)
Proceeds from NDT fund sales 3,830 2,890
Investment in NDT funds (3,999) (3,043)
Collection of DPP, net 0 4,096
Acquisitions of assets and businesses (10) (15)
Other investing activities (6) 6
Net cash flows provided by (used in) investing activities (1,758) 2,650
Cash flows from financing activities    
Change in short-term borrowings 0 (625)
Proceeds from short-term borrowings with maturities greater than 90 days 900 200
Repayments of short-term borrowings with maturities greater than 90 days 0 (539)
Issuance of long-term debt 0 900
Retirement of long-term debt (1,008) (65)
Other financing activities (141) (35)
Net cash flows provided by (used in) financing activities (893) (1,385)
Increase (decrease) in cash, restricted cash, and cash equivalents (1,067) (71)
Cash, restricted cash, and cash equivalents at beginning of period 3,129 454
Cash, restricted cash, and cash equivalents at end of period 2,062 383
Supplemental disclosure of non-cash investing and financing activities    
Increase (decrease) in DPP 0 4,455
Increase (decrease) in PP&E related to ARO update (6) (389)
Constellation Energy Generation, LLC    
Cash flows from operating activities    
Net income (loss) 962 1,692
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 1,300 1,388
Deferred income taxes and amortization of ITCs 14 191
Net fair value changes related to derivatives 188 (776)
Net realized and unrealized (gains) losses on NDT funds (336) (197)
Net realized and unrealized (gains) losses on equity investments 275 11
Other non-cash operating activities (70) (82)
Changes in assets and liabilities:    
Accounts receivable 208 773
Receivables from and payables to affiliates, net (118) 97
Inventories 17 58
Accounts payable and accrued expenses (238) (203)
Option premiums received (paid), net 18 129
Collateral received (posted), net (242) 868
Income taxes 209 (86)
Pension and non-pension postretirement benefit contributions (181) (188)
Other assets and liabilities (504) (5,025)
Net cash flows provided by (used in) operating activities 1,502 (1,350)
Cash flows from investing activities    
Capital expenditures (1,573) (1,284)
Proceeds from NDT fund sales 3,830 2,890
Investment in NDT funds (3,999) (3,043)
Collection of DPP, net 0 4,096
Acquisitions of assets and businesses (10) (15)
Other investing activities (6) 6
Net cash flows provided by (used in) investing activities (1,758) 2,650
Cash flows from financing activities    
Change in short-term borrowings 0 (625)
Proceeds from short-term borrowings with maturities greater than 90 days 900 200
Repayments of short-term borrowings with maturities greater than 90 days 0 (539)
Issuance of long-term debt 0 900
Retirement of long-term debt (1,008) (65)
Distributions to member (793) (1,220)
Contributions from member 103 0
Other financing activities (21) (19)
Net cash flows provided by (used in) financing activities (819) (1,368)
Increase (decrease) in cash, restricted cash, and cash equivalents (1,075) (68)
Cash, restricted cash, and cash equivalents at beginning of period 3,115 440
Cash, restricted cash, and cash equivalents at end of period 2,040 372
Supplemental disclosure of non-cash investing and financing activities    
Increase (decrease) in DPP 0 4,455
Increase (decrease) in PP&E related to ARO update $ (6) $ (389)