v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents $ 972 $ 713
Restricted cash and restricted cash equivalents (includes $215 million and $225 million related to VIEs at respective dates) 249 259
Accounts receivable    
Customers (net of allowance for doubtful accounts of $402 million and $408 million at respective dates) (includes $1.6 billion and $1.9 billion related to VIEs, net of allowance for doubtful accounts of $400 million and $408 million at respective dates) 1,884 2,267
Accrued unbilled revenue (includes $1.7 billion and $1.3 billion related to VIEs at respective dates) 1,909 1,463
Regulatory balancing accounts 5,380 6,300
Other (net of allowance for doubtful accounts of $19 million and $69 million at respective dates) 1,822 1,719
Regulatory assets 196 305
Inventories    
Gas stored underground and fuel oil 70 75
Materials and supplies 785 745
Wildfire Fund asset 291 297
Wildfire self-insurance asset 1,059 1,043
Other 787 644
Total current assets 15,404 15,830
Property, Plant, and Equipment    
Property, Plant, and Equipment 133,883 128,989
Construction work in progress 4,810 4,627
Financing lease ROU asset and other 0 2
Total property, plant, and equipment 138,693 133,618
Accumulated depreciation (38,512) (37,270)
Net property, plant, and equipment 100,181 96,348
Other Noncurrent Assets    
Regulatory assets 16,125 15,981
Customer credit trust 553 804
Nuclear decommissioning trusts 4,431 4,230
Operating lease ROU asset 485 450
Wildfire Fund asset 3,508 3,728
Other (includes noncurrent accounts receivable of $77 million and $67 million related to VIEs, net of noncurrent allowance for doubtful accounts of $19 million and $15 million at respective dates) 4,389 4,240
Total other noncurrent assets 29,491 29,433
TOTAL ASSETS 145,076 141,611
Current Liabilities    
Short-term borrowings 1,375 2,675
Long-term debt, classified as current (includes $226 million and $221 million related to VIEs at respective dates) 1,075 821
Accounts payable    
Trade creditors 3,009 3,353
Regulatory balancing accounts 2,142 3,119
Other 915 929
Operating lease liabilities 91 90
Interest payable (includes $70 million and $72 million related to VIEs at respective dates) 833 764
Wildfire-related claims 309 524
Other 2,918 4,025
Total current liabilities 12,667 16,300
Noncurrent Liabilities    
Long-term debt (includes $11.6 billion and $11.7 billion related to VIEs at respective dates) 61,768 57,387
Regulatory liabilities 20,385 20,188
Pension and other postretirement benefits 517 549
Asset retirement obligations 5,581 5,439
Deferred income taxes 4,717 4,135
Operating lease liabilities 394 360
Financing lease liabilities 0 2
Other 4,894 4,459
Total noncurrent liabilities 98,256 92,519
Shareholders’ Equity    
Mandatory convertible preferred stock 1,579 1,579
Common stock, no par value, authorized 3,600,000,000 and 3,600,000,000 shares at respective dates; 2,202,366,726 and 2,197,942,874 shares outstanding at respective dates 31,636 31,636
Reinvested earnings 719 (650)
Accumulated other comprehensive loss (33) (25)
Total shareholders’ equity 33,901 32,540
Noncontrolling Interest - Preferred Stock of Subsidiary 252 252
Total equity 34,153 32,792
TOTAL LIABILITIES AND EQUITY $ 145,076 $ 141,611