Balance Sheet Components

Inventories of materials and supplies, emission allowances, stored natural gas, and fuel stock are recorded at average cost and consisted of the following as of June 30, 2026 and December 31, 2025 (dollars in millions):


	June 30,		December 31,
	2026		2025
Materials and supplies	$	90	$	87
Emission allowances		160		136
Stored natural gas		8		8
Fuel stock		6		5
Total	$	264	$	236

Other current assets consisted of the following as of June 30, 2026 and December 31, 2025 (dollars in millions):


	June 30,		December 31,
	2026		2025
Prepayments	$	61	$	56
Income taxes receivable		16		39
Derivative assets net of collateral		5		8
Other		12		16
Total	$	94	$	119

Net utility property, which is recorded at original cost, net of accumulated depreciation, consisted of the following as of June 30, 2026 and December 31, 2025 (dollars in millions):


	June 30,		December 31,
	2026		2025
Utility plant in service	$	8,554	$	8,591
Construction work in progress		405		303
Total		8,959		8,894
Less: Accumulated depreciation and amortization		2,431		2,575
Total	$	6,528	$	6,319

Other property and investments-net and other non-current assets consisted of the following as of June 30, 2026 and December 31, 2025 (dollars in millions):


	June 30,		December 31,
	2026		2025
Equity investments	$	160	$	148
Operating lease ROU assets		64		64
Finance lease ROU assets		27		29
Non-utility property		12		12
Notes receivable		10		12
Long-term prepaid license fees		13		18
Pension asset		66		61
Investment in affiliated trust		12		12
Deferred compensation assets		10		9
Other		8		23
Total	$	382	$	388

Other current liabilities consisted of the following as of June 30, 2026 and December 31, 2025 (dollars in millions):


	June 30, 2026		December 31, 2025
Accrued taxes other than income taxes	$	31	$	33
Derivative liabilities		22		18
Employee paid time off accruals		41		34
Accrued interest		29		27
Pensions and other postretirement benefits		13		16
Customer deposits		22		19
Other		43		54
Total	$	201	$	201

Other non-current liabilities and deferred credits consisted of the following as of June 30, 2026 and December 31, 2025 (dollars in millions):


	June 30, 2026		December 31, 2025
Operating lease liabilities	$	61	$	60
Finance lease liabilities		30		32
Deferred investment tax credits		27		27
Climate Commitment Act obligations		161		131
Asset retirement obligations		17		16
Derivative liabilities		13		10
Other		35		29
Total	$	344	$	305

Regulatory assets and liabilities consisted of the following as of June 30, 2026 and December 31, 2025 (dollars in millions):


	June 30, 2026				December 31, 2025
	Current		Non-Current		Current		Non-Current
Regulatory Assets
Energy commodity derivatives	$	28	$	14	$	18	$	12
Deferred Climate Commitment Act costs		9		—		24		—
Deferred power costs		54		39		17		71
Decoupling surcharge		38		51		27		21
Unamortized debt repurchase costs		—		5		—		5
Income tax related assets		—		252		—		246
Pension and other postretirement benefit plans		1		72		1		72
Interest rate swaps		—		162		—		165
AFUDC above FERC allowed rate		—		52		—		51
Settlement with Coeur d'Alene Tribe		—		34		—		34
Advanced meter infrastructure		3		19		3		20
Utility plant abandoned		2		11		2		31
Demand side management programs		—		50		—		57
Colstrip		2		32		2		31
Wildfire resiliency		14		21		9		17
Insurance deferrals		7		7		8		8
Other regulatory assets		21		37		24		30
Total regulatory assets	$	179	$	858	$	135	$	871
Regulatory Liabilities
Other income tax related liabilities	$	6	$	48	$	7	$	51
Excess deferred income taxes		13		260		13		266
Deferred Climate Commitment Act revenues		4		—		34		—
Deferred power costs		3		5		7		—
Deferred natural gas costs		25		—		33		—
Decoupling rebate		5		—		1		3
Utility plant retirement costs		—		467		—		468
Interest rate swaps		—		22		—		23
Provision for rate refund		16		—		13		—
Other regulatory liabilities		21		9		18		7
Total regulatory liabilities	$	93	$	811	$	126	$	818