v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents $ 902 $ 713
Restricted cash and restricted cash equivalents (includes $370 million and $225 million related to VIEs at respective dates) 404 259
Accounts receivable    
Customers (net of allowance for doubtful accounts of $391 million and $408 million at respective dates) (includes $1.8 billion and $1.9 billion related to VIEs, net of allowance for doubtful accounts of $391 million and $408 million at respective dates) 2,205 2,267
Accrued unbilled revenue (includes $1.4 billion and $1.3 billion related to VIEs at respective dates) 1,613 1,463
Regulatory balancing accounts 4,846 6,300
Other (net of allowance for doubtful accounts of $28 million and $69 million at respective dates) 1,633 1,719
Regulatory assets 159 305
Inventories    
Gas stored underground and fuel oil 68 75
Materials and supplies 789 745
Wildfire Fund asset 286 297
Wildfire self-insurance asset 1,008 1,043
Other 834 644
Total current assets 14,747 15,830
Property, Plant, and Equipment    
Property, Plant, and Equipment 136,221 128,989
Construction work in progress 5,115 4,627
Financing lease ROU asset and other 0 2
Total property, plant, and equipment 141,336 133,618
Accumulated depreciation (38,781) (37,270)
Net property, plant, and equipment 102,555 96,348
Other Noncurrent Assets    
Regulatory assets 16,531 15,981
Customer credit trust 408 804
Nuclear decommissioning trusts 4,432 4,230
Operating lease ROU asset 452 450
Wildfire Fund asset 3,373 3,728
Other (includes noncurrent accounts receivable of $76 million and $67 million related to VIEs, net of noncurrent allowance for doubtful accounts of $17 million and $15 million and $272 million and $0 of noncurrent restricted cash related to the DOE’s Civil Nuclear Credit Program at respective dates) 4,797 4,240
Total other noncurrent assets 29,993 29,433
TOTAL ASSETS 147,295 141,611
Current Liabilities    
Short-term borrowings 2,205 2,675
Long-term debt, classified as current (includes $227 million and $221 million related to VIEs at respective dates) 1,474 821
Accounts payable    
Trade creditors 3,052 3,353
Regulatory balancing accounts 2,406 3,119
Other 815 929
Operating lease liabilities 94 90
Interest payable (includes $154 million and $72 million related to VIEs at respective dates) 773 764
Wildfire-related claims 173 524
Other 3,331 4,025
Total current liabilities 14,323 16,300
Noncurrent Liabilities    
Long-term debt (includes $11.5 billion and $11.7 billion related to VIEs at respective dates) 61,347 57,387
Regulatory liabilities 20,369 20,188
Pension and other postretirement benefits 496 549
Asset retirement obligations 5,654 5,439
Deferred income taxes 5,020 4,135
Operating lease liabilities 358 360
Financing lease liabilities 0 2
Other 4,903 4,459
Total noncurrent liabilities 98,147 92,519
Shareholders’ Equity    
Mandatory convertible preferred stock 1,579 1,579
Common stock, no par value, authorized 3,600,000,000 and 3,600,000,000 shares at respective dates; 2,202,416,553 and 2,193,573,536 shares outstanding at respective dates 31,672 31,636
Reinvested earnings 1,357 (650)
Accumulated other comprehensive loss (35) (25)
Total shareholders’ equity 34,573 32,540
Noncontrolling Interest - Preferred Stock of Subsidiary 252 252
Total equity 34,825 32,792
TOTAL LIABILITIES AND EQUITY $ 147,295 $ 141,611