v3.26.3
Consolidated Balance Sheets (Unaudited) - PHI - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 1,469 $ 626
Restricted cash and cash equivalents 602 525
Accounts receivable    
Customer accounts receivable 3,669 3,732
Customer allowance for credit losses (507) (435)
Customer accounts receivable, net 3,162 3,297
Other accounts receivable 1,574 1,879
Other allowance for credit losses (96) (94)
Other accounts receivable, net 1,478 1,785
Inventories, net    
Fossil fuel 99 88
Materials and supplies 863 780
Regulatory assets 1,278 1,359
Prepaid renewable energy credits 466 563
Other 523 523
Total current assets 9,940 9,546
Property, plant and equipment, net 88,557 84,318
Deferred debits and other assets    
Regulatory assets 9,560 9,214
Goodwill 6,630 6,630
Investments 336 312
Other 2,018 1,795
Total deferred debits and other assets 23,740 22,706
Total assets 122,237 116,570
Current liabilities    
Short-term borrowings 934 612
Long-term debt due within one year 1,078 1,665
Accrued expenses 1,692 1,582
Customer deposits 609 533
Regulatory liabilities 551 1,128
Unamortized energy contract liabilities 4 5
Renewable energy credit obligations 364 473
Other 675 577
Total current liabilities 9,644 10,331
Long-term debt 50,791 47,413
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 14,596 13,715
Regulatory liabilities 11,684 11,016
Asset retirement obligations 318 321
Non-pension postretirement benefit obligations 572 546
Unamortized energy contract liabilities 13 16
Other 2,573 2,169
Total deferred credits and other liabilities 31,280 29,638
Total liabilities 92,105 87,772
Commitments and contingencies
Members' Equity [Abstract]    
Retained earnings 8,325 7,577
Total liabilities and shareholders’ equity 122,237 116,570
Related Party    
Current liabilities    
Accounts payable 5 5
Nonrelated Party    
Current liabilities    
Accounts payable 3,711 3,721
Pepco Holdings LLC    
Current assets    
Cash and cash equivalents 207 103
Restricted cash and cash equivalents 46 38
Accounts receivable    
Customer accounts receivable 976 975
Customer allowance for credit losses (136) (115)
Customer accounts receivable, net 840 860
Other accounts receivable 317 292
Other allowance for credit losses (51) (49)
Other accounts receivable, net 266 243
Inventories, net    
Fossil fuel 10 9
Materials and supplies 375 357
Prepaid utility taxes 31 77
Regulatory assets 310 352
Prepaid renewable energy credits 166 201
Other 39 34
Total current assets 2,297 2,288
Property, plant and equipment, net 21,946 21,377
Deferred debits and other assets    
Regulatory assets 1,570 1,556
Goodwill 4,005 4,005
Investments 159 158
Prepaid pension asset 187 199
Total deferred debits and other assets 6,074 6,050
Total assets 30,317 29,715
Current liabilities    
Short-term borrowings 0 612
Long-term debt due within one year 76 64
Accrued expenses 378 359
Customer deposits 135 123
Regulatory liabilities 170 103
Unamortized energy contract liabilities 4 5
Renewable energy credit obligations 192 223
Total current liabilities 1,980 2,577
Long-term debt 10,058 9,526
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 3,524 3,391
Regulatory liabilities 716 722
Asset retirement obligations 56 62
Non-pension postretirement benefit obligations 15 24
Unamortized energy contract liabilities 13 16
Other 435 418
Total deferred credits and other liabilities 4,759 4,633
Total liabilities 16,797 16,736
Commitments and contingencies
Members' Equity [Abstract]    
Membership interest 13,616 13,130
Retained earnings (96) (151)
Total members' equity 13,520 12,979
Total liabilities and shareholders’ equity 30,317 29,715
Pepco Holdings LLC | Related Party    
Accounts receivable    
Receivables from affiliates 7 14
Current liabilities    
Accounts payable 56 71
Other 96 80
Pepco Holdings LLC | Nonrelated Party    
Deferred debits and other assets    
Other 153 132
Current liabilities    
Accounts payable 715 816
Other $ 158 $ 121