REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS (Tables)

9 Months Ended

Sep. 30, 2026

Noncurrent regulatory assets are comprised of the following:


	Balance at
(in millions)	September 30, 2026		December 31, 2025
Pension benefits	$	341	$	400
Environmental compliance costs	1,145		1,158
Price risk management	90		100
Catastrophic event memorandum account	526		666
Wildfire-related accounts	1,458		1,626
Deferred income taxes	7,211		6,157
Financing costs	192		202
SB 901 securitization	4,960		5,089
Other	608		583
Total noncurrent regulatory assets	$	16,531	$	15,981

Noncurrent regulatory liabilities are comprised of the following:


	Balance at
(in millions)	September 30, 2026		December 31, 2025
Cost of removal obligations	$	10,070	$	9,488
Public purpose programs	1,158		1,169
Employee benefit plans	1,061		1,043
Transmission tower wireless licenses	246		257
SB 901 securitization	5,676		6,010
Wildfire self-insurance	1,024		1,035
Other	1,134		1,186
Total noncurrent regulatory liabilities	$	20,369	$	20,188

Current regulatory balancing accounts receivable and payable are comprised of the following:


	Balance at
(in millions)	September 30, 2026		December 31, 2025
Electric distribution	$	1,416	$	1,465
Electric transmission	147		122
Gas distribution and transmission	743		142
Energy procurement	1,496		2,711
Public purpose programs	135		151
Wildfire-related accounts	91		84
Residential uncollectibles balancing accounts	162		278
Catastrophic event memorandum account	27		181
Other	629		1,166
Total regulatory balancing accounts receivable	$	4,846	$	6,300


	Balance at
(in millions)	September 30, 2026		December 31, 2025
Electric transmission	$	—	$	37
Gas distribution and transmission	2		78
Energy procurement	572		1,502
Public purpose programs	603		472
SFGO sale	60		83
Wildfire-related accounts	521		338
Nuclear decommissioning adjustment mechanism	—		1
Other	648		608
Total regulatory balancing accounts payable	$	2,406	$	3,119