v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 461 $ 414
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 597 544
Deferred income taxes 39 75
Allowance for equity funds used during construction (111) (52)
Provision for bad debts 9 13
Changes in operating assets and liabilities:    
Accounts receivable 50 81
Accrued unbilled revenues 35 63
Inventories (10) (37)
Other current assets 424 (30)
Accounts payable (59) (20)
Net regulatory assets and liabilities (29) (34)
Other current liabilities (103) (119)
Pension and other employee benefit obligations (4) (6)
Other, net 0 (7)
Net cash provided by operating activities 1,299 885
Investing activities    
Utility capital/construction expenditures (2,742) (1,993)
Investments in utility money pool arrangement (56) (831)
Repayments from utility money pool arrangement 56 831
Net cash used in investing activities (2,742) (1,993)
Financing activities    
Repayments of short-term borrowings, net (260) (85)
Borrowings under utility money pool arrangement 383 610
Repayments under utility money pool arrangement (410) (651)
Proceeds from issuance of long-term debt 1,288 988
Repayments of long-term debt 0 (250)
Capital contributions from parent 891 739
Dividends paid to parent (219) (217)
Net cash provided by financing activities 1,673 1,134
Net change in cash, cash equivalents and restricted cash 230 26
Cash, cash equivalents and restricted cash at beginning of period 16 26
Cash, cash equivalents and restricted cash at end of period 246 52
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (196) (162)
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 636 577
Inventory transfers to property, plant and equipment 21 57
Operating lease right-of-use assets 113 140
Allowance for equity funds used during construction $ 111 $ 52