v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - PAC - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 1,114 $ 1,187
Adjustments to reconcile net income to net cash flows from operating activities:    
Allowance for equity funds (80) (66)
Net power cost deferrals 22 (88)
Amortization of net power cost deferrals 236 220
Other changes in regulatory assets and liabilities 9 (13)
Deferred income taxes and investment tax credits, net 333 (92)
Other, net 41 72
Changes in other operating assets and liabilities, net of effects from acquisitions:    
Trade receivables and other assets (113) 107
Derivative collateral, net (53) 10
Accrued property, income and other taxes, net (778) (349)
Accounts payable and other liabilities (128) (161)
Wildfires insurance receivable 0 98
Wildfires liability (584) (114)
Net cash flows from operating activities 1,363 2,021
Cash flows from investing activities:    
Capital expenditures (2,418) (2,128)
Other, net 31 4
Net cash flows from investing activities (2,358) (1,573)
Cash flows from financing activities:    
Net repayments of short-term debt (989) (441)
Other, net 192 (17)
Net cash flows from financing activities 3,493 925
Net change in cash and cash equivalents and restricted cash and cash equivalents 2,491 1,377
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 1,878 1,586
Cash and cash equivalents and restricted cash and cash equivalents at end of period 4,369 2,963
PAC    
Cash flows from operating activities:    
Net income (loss) 71 177
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 310 299
Allowance for equity funds (20) (27)
Net power cost deferrals (57) (112)
Amortization of net power cost deferrals 225 206
Other changes in regulatory assets and liabilities 2 (11)
Deferred income taxes and investment tax credits, net 126 (9)
Other, net 10 5
Changes in other operating assets and liabilities, net of effects from acquisitions:    
Trade receivables and other assets 171 16
Inventories (15) (27)
Derivative collateral, net (27) 5
Prepaid expenses (97) 27
Accrued property, income and other taxes, net (126) 14
Accounts payable and other liabilities (52) (59)
Wildfires insurance receivable 0 98
Wildfires liability (584) (114)
Net cash flows from operating activities (63) 488
Cash flows from investing activities:    
Capital expenditures (717) (688)
Other, net 5 5
Net cash flows from investing activities (712) (683)
Cash flows from financing activities:    
Proceeds from senior debt 2,885 0
Proceeds from junior subordinated debt 1,089 842
Repayments of senior debt (100) 0
Net repayments of short-term debt (1,000) (240)
Redemption of preferred stock 0 (2)
Other, net (4) (2)
Net cash flows from financing activities 2,870 598
Net change in cash and cash equivalents and restricted cash and cash equivalents 2,095 403
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 95 61
Cash and cash equivalents and restricted cash and cash equivalents at end of period $ 2,190 $ 464