v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income $ 2,102 $ 1,451
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 2,246 2,216
Nuclear fuel amortization 89 87
Deferred income taxes 402 395
Allowance for equity funds used during construction (328) (196)
(Earnings) loss from equity method investments (166) 3
Dividends from equity method investments 74 16
Provision for bad debts 52 47
Share-based compensation expense 38 38
Changes in operating assets and liabilities:    
Accounts receivable (113) (32)
Accrued unbilled revenues 127 66
Inventories (217) (202)
Other current assets 573 142
Accounts payable (58) (85)
Net regulatory assets and liabilities (45) (113)
Other current liabilities 233 202
Pension and other employee benefit obligations (64) (102)
Other, net (77) (59)
Net cash provided by operating activities 4,868 3,874
Investing activities    
Capital/construction expenditures (9,255) (7,470)
Purchase of investment securities (1,409) (854)
Proceeds from the sale of investment securities 1,407 851
Other, net 30 (19)
Net cash used in investing activities (9,227) (7,492)
Financing activities    
Proceeds from short-term borrowings, net 1,510 635
Proceeds from issuances of long-term debt 5,483 4,883
Repayments of long-term debt 216 1,223
Proceeds from issuance of common stock 839 1,151
Dividends paid (1,070) (954)
Other, net 22 (1)
Net cash provided by financing activities 6,568 4,491
Net change in cash, cash equivalents and restricted cash 2,209 873
Cash, cash equivalents and restricted cash at beginning of period 274 179
Cash, cash equivalents and restricted cash at end of period 2,483 1,052
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (1,012) (832)
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 1,551 1,250
Inventory transfers to property, plant and equipment 189 288
Operating lease and finance lease right-of-use assets 83 1,218
Allowance for equity funds used during construction 328 196
Issuance of common stock for reinvested dividends and/or equity awards $ 63 $ 63