XML 23 R5.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES      
Net income $ 2,023 $ 1,820 $ 2,516
PRINCIPAL NON-CASH CHARGES (CREDITS) TO INCOME      
Depreciation and amortization 2,321 2,155 2,031
Deferred income taxes 590 416 132
Rate case amortization and accruals 258 201 92
Net derivatives losses 0 0 12
Pre-tax loss (gain) on sale of the Clean Energy Businesses 0 62 (865)
Other non-cash items, net (55) (85) (93)
CHANGES IN ASSETS AND LIABILITIES      
Accounts receivable – customers, net (30) (263) (275)
Unbilled revenue and net unbilled revenue deferrals 15 75 (48)
Other receivables, net and other current assets (33) 71 140
Taxes receivable 134 (144) 3
Prepayments 64 25 (200)
Accounts payable 161 (1) (285)
Pensions and retiree benefits obligations, net (582) (284) (179)
Pensions and retiree benefits contributions (61) (26) (33)
Accrued taxes 33 (5) (13)
Accrued interest 24 28 (7)
Superfund and other environmental costs, net (22) (43) (12)
Distributions from equity investments 70 35 31
Deferred charges, noncurrent assets, leases, net and other regulatory assets (721) (797) (1,200)
Deferred credits, noncurrent liabilities and other regulatory liabilities 448 475 196
Other current liabilities 163 (101) 213
NET CASH FLOWS FROM OPERATING ACTIVITIES 4,800 3,614 2,156
INVESTING ACTIVITIES      
Utility capital expenditures (4,764) (4,770) (4,353)
Cost of removal less salvage (481) (474) (387)
Non-utility capital expenditures 0 (1) (141)
Proceeds from sale of Broken Bow II, net of cash and cash equivalents sold 45 0 3,927
Other investing activities (49) (28) (49)
NET CASH FLOWS USED IN INVESTING ACTIVITIES (5,249) (5,273) (1,003)
FINANCING ACTIVITIES      
Net payment of short-term debt (Maturities 90 days or less) (895) (118) (202)
Short-term borrowings 300 0 0
Borrowing under term loan 200 500 200
Repayment of term loan (200) 0 (750)
Issuance of long-term debt 1,150 2,975 2,050
Retirement of long-term debt 0 (477) (710)
Debt issuance costs (15) (43) (32)
Common stock dividends (1,166) (1,100) (1,096)
Issuance of common shares - public offering 1,308 0 0
Issuance of common shares for stock plans 64 60 56
Repurchase of common shares 0 0 (1,000)
Distribution to noncontrolling interest 0 0 (4)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES 746 1,797 (1,488)
CASH, TEMPORARY CASH INVESTMENTS, AND RESTRICTED CASH:      
NET CHANGE FOR THE PERIOD 297 138 (335)
BALANCE AT BEGINNING OF PERIOD 1,630 1,333 1,195
BALANCE AT END OF PERIOD 1,630 1,333 1,195
LESS: CASH AND RESTRICTED CASH BALANCES HELD FOR SALE 0 9 5
BALANCE AT END OF PERIOD EXCLUDING HELD FOR SALE 1,630 1,324 1,190
Cash paid (received) during the period for:      
Interest, net of capitalized interest 1,147 1,072 987
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION      
Capital expenditures in accounts payable 794 501 598
Issuance of common shares for dividend reinvestment 48 49 31
Equipment      
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION      
Equipment acquired but unpaid as of end of period $ 0 $ 6 $ 11