v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 898 $ 873
Adjustments to reconcile to net cash flows provided by operating activities:    
Depreciation and amortization 722 663
Deferred income taxes and amortization of investment tax credits 356 104
Provision for losses on accounts receivable 39 36
Pension and non-pension postretirement benefits (5) 1
Other non-cash, net (54) (6)
Changes in assets and liabilities:    
Receivables and unbilled revenues (57) (201)
Income tax receivable (84) 22
Pension contributions (33) (33)
Accounts payable and accrued liabilities (46) (2)
Accrued taxes (18) 4
Other assets and liabilities, net (83) (65)
Net cash provided by operating activities 1,635 1,396
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (2,407) (2,078)
Acquisitions, net of cash acquired (391) (22)
Proceeds from secured seller promissory note from the sale of the Homeowner Services Group 795 0
Removal costs from property, plant and equipment retirements, net (138) (120)
Purchases of available-for-sale fixed-income securities 0 (43)
Proceeds from sales and maturities of available-for-sale fixed-income securities 36 84
Net cash used in investing activities (2,105) (2,179)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from long-term debt, net of discount 1,847 1,776
Repayments of long-term debt (1,229) (623)
Proceeds from the issuance of common stock 476 0
Net short-term (repayments) borrowings with original maturities less than three months (139) 126
Advances and contributions in aid of construction, net of refunds of $24 and $25 for the nine months ended September 30, 2026 and 2025, respectively 56 60
Debt issuance costs (12) (17)
Dividends paid (514) (472)
Other, net 1 2
Net cash provided by financing activities 486 852
Net increase in cash, cash equivalents and restricted funds 16 69
Cash, cash equivalents and restricted funds at beginning of period 139 140
Cash, cash equivalents and restricted funds at end of period 155 209
Non-cash investing and financing activity    
Capital expenditures acquired on account but unpaid as of the end of period 273 331
Acquisition financed by treasury stock 46 7
Settlements of long-term debt $ 0 $ 27