v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 511 $ 494
Adjustments to reconcile to net cash flows provided by operating activities:    
Depreciation and amortization 477 437
Deferred income taxes and amortization of investment tax credits 294 51
Provision for losses on accounts receivable 22 19
Pension and non-pension postretirement benefits (4) (2)
Other non-cash, net (32) (36)
Changes in assets and liabilities:    
Receivables and unbilled revenues (132) (146)
Income tax receivable (113) 0
Pension contributions (22) (22)
Accounts payable and accrued liabilities (77) (59)
Accrued taxes (46) (42)
Other assets and liabilities, net 29 (62)
Net cash provided by operating activities 907 632
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (1,519) (1,281)
Acquisitions, net of cash acquired (346) (13)
Proceeds from secured seller promissory note from the sale of the Homeowner Services Group 795 0
Removal costs from property, plant and equipment retirements, net (89) (71)
Purchases of available-for-sale fixed-income securities 0 (35)
Proceeds from sales and maturities of available-for-sale fixed-income securities 32 60
Net cash used in investing activities (1,127) (1,340)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from long-term debt, net of discount 1,293 876
Repayments of long-term debt (1,061) (606)
Proceeds from the issuance of common stock 476 0
Net short-term (repayments) borrowings with original maturities less than three months (89) 710
Advances and contributions in aid of construction, net of refunds of $15 and $16 for the six months ended June 30, 2026 and 2025, respectively 37 35
Debt issuance costs (9) (7)
Dividends paid (336) (311)
Other, net (2) 6
Net cash provided by financing activities 309 703
Net increase (decrease) in cash, cash equivalents and restricted funds 89 (5)
Cash, cash equivalents and restricted funds at beginning of period 139 140
Cash, cash equivalents and restricted funds at end of period 228 135
Non-cash investing and financing activity    
Capital expenditures acquired on account but unpaid as of the end of period 278 299
Acquisition financed by treasury stock 0 7
Settlements of long-term debt $ 0 $ 27