v3.26.1
Nuclear Decommissioning Trust Funds
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Nuclear Decommissioning Trust Funds
6. Nuclear Decommissioning Trust Funds
June 30, 2026December 31, 2025
Amortized CostUnrealized GainsUnrealized LossesFair ValueAmortized CostUnrealized GainsUnrealized LossesFair Value
Cash equivalents$9 $— $— $9 $16 $— $— $16 
Equity securities389 827 (20)1,196 385 739 (19)1,105 
Debt securities791 4 (9)786 773 7 (3)777 
Receivables (payables), net6 — — 6 2 — — 2 
NDT Funds$1,195 $831 $(29)$1,997 $1,176 $746 $(22)$1,900 
See Note 11 for additional information on the NDT fair value. There were no available-for-sale debt securities with credit losses as of June 30, 2026 and December 31, 2025.
As of June 30, 2026, there was no intent to sell available-for-sale debt securities with unrealized losses, and it is not more likely than not that each of these investments will be required to be sold before the recovery of its amortized cost. The aggregate fair value of available-for-sale debt securities with unrealized losses as of June 30, 2026 was:
Fair ValueUnrealized Losses
Corporate debt securities$195 $(3)
Municipal debt securities57 (1)
U.S. Government debt securities311 (5)
Debt securities in unrealized loss position$563 $(9)
As of June 30, 2026, the aggregate fair value of debt securities whose carrying value was below the purchase price for a duration of one year or longer was $115 million and the unrealized losses related to such securities were non-material.
The contractual maturities for available-for-sale debt securities presented on the Consolidated Balance Sheets were:
June 30,
2026		December 31,
2025
Maturities within one year$21 $23 
Maturities within two to five years221 233 
Maturities thereafter544 521 
Debt securities, fair value$786 $777 
The sales proceeds, gains, and losses for available-for-sale debt securities for the periods were:
 Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Sales proceeds of NDT funds investments (a)
$56 $592 $136 $1,168 
Realized gains1 4 2 7 
Realized losses(1)(3)(1)(5)
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(a)Sales proceeds are used to pay income taxes and trust management fees. Remaining proceeds are reinvested in the NDT.
The net unrealized gains and losses recognized associated with equity securities still held at the end of the reporting periods were:
 Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Equity securities, unrealized gains (losses)$124 $61 $88 $37