v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME, UTILITY - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Operating Revenues        
Total operating revenues $ 6,188 $ 6,250 $ 18,971 $ 18,131
Operating Expenses        
Operating and maintenance 2,543 2,641 8,191 8,147
SB 901 securitization charges, net 36 35 36 35
Wildfire-related claims, net of recoveries 0 1 0 100
Wildfire Fund expense 141 86 369 271
Depreciation, amortization, and decommissioning 1,206 1,132 3,434 3,302
Total operating expenses 4,939 5,041 14,989 14,606
Operating Income 1,249 1,209 3,982 3,525
Interest income 104 94 336 392
Interest expense (825) (770) (2,424) (2,296)
Other income, net 153 97 366 251
Income Before Income Taxes 681 630 2,260 1,872
Income tax benefit (95) (220) (162) (161)
Net Income 776 850 2,422 2,033
Preferred stock dividend requirement 27 27 82 82
Income Available for Common Shareholders 749 823 2,340 1,951
Income Available for Common Shareholders 749 823 2,340 1,951
Utility        
Operating Revenues        
Total operating revenues 6,188 6,250 18,971 18,131
Operating Expenses        
Operating and maintenance 2,541 2,636 8,182 8,128
SB 901 securitization charges, net 36 35 36 35
Wildfire-related claims, net of recoveries 0 1 0 100
Wildfire Fund expense 141 86 369 271
Depreciation, amortization, and decommissioning 1,206 1,132 3,434 3,302
Total operating expenses 4,937 5,036 14,980 14,587
Operating Income 1,251 1,214 3,991 3,544
Interest income 97 91 320 384
Interest expense (729) (691) (2,145) (2,059)
Other income, net 116 97 334 251
Income Before Income Taxes 735 711 2,500 2,120
Income tax benefit (85) (202) (105) (100)
Net Income 820 913 2,605 2,220
Preferred stock dividend requirement 3 3 10 10
Income Available for Common Shareholders 817 910 2,595 2,210
Income Available for Common Shareholders 817 910 2,595 2,210
Electric        
Operating Revenues        
Total operating revenues 4,660 4,755 14,015 13,304
Operating Expenses        
Cost of electricity and natural gas 904 1,015 2,265 2,013
Electric | Utility        
Operating Revenues        
Total operating revenues 4,660 4,755 14,015 13,304
Operating Expenses        
Cost of electricity and natural gas 904 1,015 2,265 2,013
Natural gas        
Operating Revenues        
Total operating revenues 1,528 1,495 4,956 4,827
Operating Expenses        
Cost of electricity and natural gas 109 131 694 738
Natural gas | Utility        
Operating Revenues        
Total operating revenues 1,528 1,495 4,956 4,827
Operating Expenses        
Cost of electricity and natural gas $ 109 $ 131 $ 694 $ 738