v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 800 $ 3,641
Restricted cash and cash equivalents 371 107
Accounts receivable, net 4,414 4,266
Derivative assets 1,795 945
Inventories, net 2,582 1,736
Renewable energy credits 1,038 789
Assets held for sale 5,735 126
Other 1,274 509
Total current assets 18,009 12,119
Property, plant, and equipment (net of accumulated depreciation and amortization of $19,524 and $19,072, respectively) 40,769 22,474
Deferred debits and other assets    
Nuclear decommissioning trust funds 19,366 19,336
Goodwill 11,527 420
Derivative assets 2,113 450
Other 5,127 2,450
Total deferred debits and other assets 38,133 22,656
Total assets [1] 96,911 57,249
Current liabilities    
Short-term borrowings 5,102 1,650
Long-term debt due within one year 370 92
Accounts payable and accrued expenses 4,449 4,294
Derivative liabilities 810 467
Renewable energy credit obligation 1,193 1,075
Other 1,291 366
Total current liabilities 13,215 7,944
Long-term debt 16,994 7,250
Deferred credits and other liabilities    
Deferred income taxes and unamortized ITCs 8,199 3,544
Asset retirement obligations 12,433 13,193
Pension and non-pension postretirement benefit obligations 1,835 1,977
Payables related to Regulatory Agreement Units 5,389 5,334
Derivative liabilities 518 414
Other 4,508 2,740
Total deferred credits and other liabilities 32,882 27,202
Total liabilities [1] 63,091 42,396
Commitments and contingencies (Note 15)
Member’s equity    
Undistributed earnings (deficit) 7,334 5,899
Accumulated other comprehensive income (loss), net (2,425) (2,425)
Total liabilities and equity 96,911 57,249
Nonrelated Party    
Current liabilities    
Accounts payable and accrued expenses 4,449 4,294
Constellation Energy Generation, LLC    
Current assets    
Cash and cash equivalents 785 3,641
Restricted cash and cash equivalents 351 79
Accounts receivable, net 4,392 4,251
Derivative assets 1,795 945
Inventories, net 2,582 1,736
Renewable energy credits 1,038 789
Assets held for sale 5,735 126
Other 1,282 508
Total current assets 17,960 12,075
Property, plant, and equipment (net of accumulated depreciation and amortization of $19,524 and $19,072, respectively) 40,769 22,474
Deferred debits and other assets    
Nuclear decommissioning trust funds 19,366 19,336
Goodwill 11,527 420
Derivative assets 2,113 450
Other 5,120 2,443
Total deferred debits and other assets 38,126 22,649
Total assets [2] 96,855 57,198
Current liabilities    
Short-term borrowings 5,102 1,650
Long-term debt due within one year 370 92
Derivative liabilities 810 467
Renewable energy credit obligation 1,193 1,075
Other 1,289 358
Total current liabilities 13,190 8,040
Long-term debt 16,994 7,250
Deferred credits and other liabilities    
Deferred income taxes and unamortized ITCs 8,199 3,544
Asset retirement obligations 12,433 13,193
Pension and non-pension postretirement benefit obligations 1,835 1,977
Payables related to Regulatory Agreement Units 5,389 5,334
Derivative liabilities 518 414
Other 4,465 2,583
Total deferred credits and other liabilities 32,839 27,045
Total liabilities [2] 63,023 42,335
Commitments and contingencies (Note 15)
Member’s equity    
Membership interest 27,677 10,144
Undistributed earnings (deficit) 8,243 6,808
Accumulated other comprehensive income (loss), net (2,425) (2,425)
Total member’s equity 33,495 14,527
Noncontrolling interests 337 336
Total equity 33,832 14,863
Total liabilities and equity 96,855 57,198
Constellation Energy Generation, LLC | Nonrelated Party    
Current liabilities    
Accounts payable and accrued expenses 4,324 4,033
Constellation Energy Generation, LLC | Related Party    
Current liabilities    
Accounts payable and accrued expenses $ 102 $ 365
[1] Our consolidated assets include $4,609 million and $4,551 million at March 31, 2026 and December 31, 2025, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Our consolidated liabilities include $2,381 million and $914 million at March 31, 2026 and December 31, 2025, respectively, of certain VIEs for which the VIE creditors do not have recourse to us. See Note 17 — Variable Interest Entities for additional information.
[2] Our consolidated assets include $4,609 million and $4,551 million as of March 31, 2026 and December 31, 2025, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Our consolidated liabilities include $2,381 million and $914 million as of March 31, 2026 and December 31, 2025, respectively, of certain VIEs for which the VIE creditors do not have recourse to us. See Note 17 — Variable Interest Entities for additional information.