v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - PAC - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 2,005 $ 1,889
Adjustments to reconcile net income to net cash flows from operating activities:    
Allowance for equity funds (174) (147)
Net power cost deferrals (73) (61)
Amortization of net power cost deferrals 458 430
Other changes in regulatory assets and liabilities 118 (162)
Deferred income taxes and investment tax credits, net 323 (107)
Other, net 21 158
Changes in other operating assets and liabilities, net of effects from acquisitions:    
Trade receivables and other assets (509) (405)
Derivative collateral, net (15) 14
Accrued property, income and other taxes, net 293 107
Accounts payable and other liabilities 123 114
Wildfires insurance receivable 0 98
Wildfires liability (589) (155)
Net cash flows from operating activities 4,673 4,320
Cash flows from investing activities:    
Capital expenditures (4,949) (4,573)
Purchases of U.S. Treasury Bills (289) (39)
Other, net 35 13
Net cash flows from investing activities (5,109) (4,071)
Cash flows from financing activities:    
Net (repayments of) proceeds from short-term debt (609) 551
Other, net 219 (31)
Net cash flows from financing activities 2,806 572
Net change in cash and cash equivalents and restricted cash and cash equivalents 2,360 834
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 1,878 1,586
Cash and cash equivalents and restricted cash and cash equivalents at end of period 4,238 2,420
PAC    
Cash flows from operating activities:    
Net income (loss) 266 282
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 625 671
Allowance for equity funds (47) (58)
Net power cost deferrals (176) (150)
Amortization of net power cost deferrals 429 409
Other changes in regulatory assets and liabilities (9) (156)
Deferred income taxes and investment tax credits, net 125 (14)
Other, net 2 16
Changes in other operating assets and liabilities, net of effects from acquisitions:    
Trade receivables and other assets 121 (58)
Inventories (79) (65)
Derivative collateral, net (12) 6
Prepayments (69) 73
Accrued property, income and other taxes, net 125 58
Accounts payable and other liabilities 116 106
Wildfires insurance receivable 0 98
Wildfires liability (589) (155)
Net cash flows from operating activities 828 1,063
Cash flows from investing activities:    
Capital expenditures (1,443) (1,406)
Purchases of U.S. Treasury Bills (245) 0
Other, net 10 7
Net cash flows from investing activities (1,678) (1,399)
Cash flows from financing activities:    
Proceeds from senior debt 2,881 0
Proceeds from junior subordinated debt 1,088 842
Repayments of senior debt (100) 0
Net (repayments of) proceeds from short-term debt (1,000) (240)
Repayments of finance leases (11) (2)
Redemption of preferred stock 0 (4)
Other, net (13) (2)
Net cash flows from financing activities 2,845 594
Net change in cash and cash equivalents and restricted cash and cash equivalents 1,995 258
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 95 61
Cash and cash equivalents and restricted cash and cash equivalents at end of period $ 2,090 $ 319