Property, Plant and Equipment, Net (Tables)

3 Months Ended

Mar. 31, 2026

Property, plant and equipment, net consists of the following (in millions):


		As of
	Depreciable	March 31,		December 31,
	Life	2026		2025
Regulated assets:
Utility generation, transmission and distribution systems	5-80 years	$	108,515	$	109,815
Interstate natural gas pipeline assets	3-80 years	21,495		21,334
		130,010		131,149
Accumulated depreciation and amortization		(40,416)		(40,365)
Regulated assets, net		89,594		90,784

Nonregulated assets:
Independent power plants	2-50 years	9,590		9,242
Cove Point LNG facility	40 years	3,475		3,476
Other assets	2-30 years	2,571		2,912
		15,636		15,630
Accumulated depreciation and amortization		(4,757)		(4,637)
Nonregulated assets, net		10,879		10,993

		100,473		101,777
Construction work-in-progress		11,093		10,591
Property, plant and equipment, net		$	111,566	$	112,368

Property, plant and equipment, net consists of the following (in millions):


		As of
		March 31,		December 31,
	Depreciable Life	2026		2025
Utility plant:
Generation	15 - 59 years	$	14,272	$	15,114
Transmission	60 - 90 years	11,425		11,732
Distribution	20 - 75 years	10,587		11,127
Intangible plant and other	2 - 75 years	2,605		2,667
Utility plant in-service		38,889		40,640
Accumulated depreciation and amortization		(12,617)		(12,875)
Utility plant in-service, net		26,272		27,765
Nonregulated, net of accumulated depreciation and amortization	34 - 75 years	18		18
		26,290		27,783
Construction work-in-progress		3,635		3,330
Property, plant and equipment, net		$	29,925	$	31,113

Property, plant and equipment, net consists of the following (in millions):


		As of
		March 31,		December 31,
	Depreciable Life	2026		2025
Utility plant:
Generation	20-62 years	$	18,677	$	18,804
Transmission	55-80 years	3,310		3,297
Electric distribution	15-80 years	6,395		6,326
Natural gas distribution	30-75 years	2,615		2,600
Utility plant in-service		30,997		31,027
Accumulated depreciation and amortization		(8,410)		(8,304)
Utility plant in-service, net		22,587		22,723



Nonregulated, net of accumulated depreciation and amortization	20-50 years	10		10
		22,597		22,733
Construction work-in-progress		1,502		1,323
Property, plant and equipment, net		$	24,099	$	24,056

Property, plant and equipment, net consists of the following (in millions):


		As of
	Depreciable Life	March 31,		December 31,
		2026		2025
Utility plant:
Generation	30 - 65 years	$	5,587	$	5,542
Transmission	55 - 75 years	1,886		1,886
Distribution	24 - 70 years	5,115		5,031
Intangible plant and other	5 - 65 years	998		951
Utility plant		13,586		13,410
Accumulated depreciation and amortization		(4,461)		(4,383)
Utility plant, net		9,125		9,027
Nonregulated, net of accumulated depreciation and amortization	40 years	1		1
		9,126		9,028
Construction work-in-progress		1,479		1,395
Property, plant and equipment, net		$	10,605	$	10,423

Property, plant and equipment, net consists of the following (in millions):


		As of
	Depreciable Life	March 31,		December 31,
		2026		2025
Utility plant:
Generation	25 - 70 years	$	1,730	$	1,413
Transmission	50 - 76 years	1,361		1,321
Electric distribution	20 - 76 years	2,341		2,298
Electric intangible plant and other	5 - 65 years	196		189
Natural gas distribution	35 - 70 years	609		591
Natural gas intangible plant and other	5 - 65 years	19		19
Common other	5 - 65 years	471		461
Utility plant		6,727		6,292
Accumulated depreciation and amortization		(2,252)		(2,296)
		4,475		3,996


Construction work-in-progress		1,864		2,060
Property, plant and equipment, net		$	6,339	$	6,056

Property, plant and equipment, net consists of the following (in millions):


		As of
		March 31,		December 31,
	Depreciable Life	2026		2025
Utility plant:
Interstate natural gas transmission assets	34 - 51 years	$	6,664	$	6,599
Storage assets	47 - 79 years	2,873		2,856
Intangible plant and other assets	4 - 53 years	528		514
Utility plant in-service		10,065		9,969
Accumulated depreciation and amortization		(3,606)		(3,555)
Utility plant in-service, net		6,459		6,414

Nonutility plant:

LNG facility	40 years	4,583		4,585
Accumulated depreciation and amortization		(933)		(901)
Nonutility plant, net		3,650		3,684

		10,109		10,098
Construction work-in-progress		275		265
Property, plant and equipment, net		$	10,384	$	10,363

Property, plant and equipment, net consists of the following (in millions):


		As of
		March 31,		December 31,
	Depreciable Life	2026		2025

Interstate natural gas transmission assets	47 - 51 years	$	5,271	$	5,213
Storage assets	47 - 51 years	1,896		1,884
Intangible plant and other assets	12 - 53 years	420		408
Plant in-service		7,587		7,505
Accumulated depreciation and amortization		(2,862)		(2,824)
		4,725		4,681










Construction work-in-progress		236		228
Property, plant and equipment, net		$	4,961	$	4,909