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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES      
Net income $ 1,820 $ 2,516 $ 1,600
PRINCIPAL NON-CASH CHARGES (CREDITS) TO INCOME      
Depreciation and amortization 2,155 2,031 2,056
Deferred income taxes 416 132 435
Rate case amortization and accruals 201 92 73
Net derivative (gains) losses 0 12 (181)
Pre-tax loss (gain) on sale of the Clean Energy Businesses 62 (865) 0
Other non-cash items, net (85) (93) 102
CHANGES IN ASSETS AND LIABILITIES      
Accounts receivable - customers, net (263) (275) (296)
Unbilled revenue and net unbilled revenue deferrals 75 (48) (96)
Materials and supplies, including fuel oil and gas in storage (16) 38 (111)
Revenue decoupling mechanism receivable 0 (39) 26
Other receivables, net and other current assets 87 141 (36)
Taxes receivable (144) 3 3
Prepayments 25 (200) 26
Accounts payable (1) (285) 558
Pensions and retiree benefits obligations, net (284) (179) 155
Pensions and retiree benefits contributions (26) (33) (39)
Accrued taxes (5) (13) 7
Accrued interest 28 (7) 42
Superfund and environmental remediation costs, net (43) (12) (22)
Distributions from equity investments 35 31 20
Deferred charges, noncurrent assets, leases, net and other regulatory assets (797) (1,200) (833)
Deferred credits, noncurrent liabilities and other regulatory liabilities 475 196 445
Other current liabilities (101) 213 1
NET CASH FLOWS FROM OPERATING ACTIVITIES 3,614 2,156 3,935
INVESTING ACTIVITIES      
Utility capital expenditures (4,770) (4,353) (3,824)
Cost of removal less salvage (474) (387) (337)
Non-utility capital expenditures (1) (141) (344)
Proceeds from sale of the Clean Energy Businesses, net of cash and cash equivalents sold 0 3,927 0
Other investing activities (28) (49) (60)
NET CASH FLOWS USED IN INVESTING ACTIVITIES (5,273) (1,003) (4,565)
FINANCING ACTIVITIES      
Net issuance (payment) of short-term debt (118) (202) 1,152
Issuance of term loan 500 200 550
Retirement of term loan 0 (750) 0
Issuance of long-term debt 2,975 2,050 800
Retirement of long-term debt (477) (710) (406)
Debt issuance costs (43) (32) (13)
Common stock dividends (1,100) (1,096) (1,089)
Issuance of common shares for stock plans 60 56 57
Repurchase of common shares 0 (1,000) 0
Distribution to noncontrolling interest 0 (4) (37)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES 1,797 (1,488) 1,014
CASH, TEMPORARY CASH INVESTMENTS, AND RESTRICTED CASH:      
NET CHANGE FOR THE PERIOD 138 (335) 384
BALANCE AT BEGINNING OF PERIOD 1,195 1,530 1,146
BALANCE AT END OF PERIOD 1,333 1,195 1,530
Total cash, temporary cash investments and restricted cash 1,333 1,195 1,530
LESS: CASH AND RESTRICTED CASH BALANCES HELD FOR SALE 9 5 248
BALANCE AT END OF PERIOD EXCLUDING HELD FOR SALE 1,324 1,190 1,282
Cash paid during the period for:      
Interest, net of capitalized interest 1,072 987 900
Income taxes 7 397 47
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION      
Capital expenditures in accounts payable 501 598 681
Issuance of common shares for dividend reinvestment 49 31 31
Software Licenses      
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION      
Capital expenditures incurred but unpaid as of end of period 0 0 2
Equipment      
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION      
Capital expenditures incurred but unpaid as of end of period $ 6 $ 11 $ 17