Supplementary Financial Information

3 Months Ended

Mar. 31, 2022

Supplementary Financial Information [Abstract]

SUPPLEMENTARY FINANCIAL INFORMATION

10. SUPPLEMENTARY FINANCIAL INFORMATION

Other Deductions and (Income)

	Three Months Ended March 31,
	2022		2021
Professional fees	$	2	$	2
Recoverable pension and OPEB – non-service costs		13		13
AFUDC – equity income		(6)		(6)
Interest and investment income		2		(3)
Other		-		1
Total other deductions and (income) – net	$	11	$	7

Interest Expense and Related Charges

	Three Months Ended March 31,
	2022		2021
Interest	$	108	$	102
Amortization of debt issuance costs and discounts		3		3
Less AFUDC – capitalized interest portion		(3)		(3)
Total interest expense and related charges	$	108	$	102

Trade Accounts and Other Receivables

Trade accounts and other receivables reported on our balance sheets consisted of the following:

	At March 31,		At December 31,
	2022		2021
Gross trade accounts and other receivables	$	819	$	750
Allowance for uncollectible accounts		(13)		(12)
Trade accounts receivable – net	$	806	$	738

At March 31, 2022, REP subsidiaries of our two largest customers represented 24% and 23% of the trade accounts receivable balance. At December 31, 2021, REP subsidiaries of our two largest customers represented 22% and 21% of the trade accounts receivable balance.

Under a PUCT rule relating to the Certification of Retail Electric Providers, write-offs of uncollectible amounts owed by REPs are deferred as a regulatory asset.

Investments and Other Property

Investments and other property reported on our balance sheets consisted of the following:

	At March 31,		At December 31,
	2022		2021
Assets related to employee benefit plans	$	133	$	133
Land		20		20
Other		2		2
Total investments and other property	$	155	$	155

Property, Plant and Equipment

Property, plant and equipment – net reported on our balance sheets consisted of the following:

	Composite Depreciation Rate/	At March 31,		At December 31,
	Average Life at March 31, 2022	2022		2021
Assets in service:
Distribution	2.5% / 39.5 years	$	16,244	$	15,994
Transmission	2.9% / 34.6 years		13,083		13,075
Other assets	5.8% / 17.3 years		1,972		1,960
Total			31,299		31,029
Less accumulated depreciation			8,771		8,659
Net of accumulated depreciation			22,528		22,370
Construction work in progress			835		557
Held for future use			27		27
Property, plant and equipment – net		$	23,390	$	22,954

Intangible Assets

Intangible assets (other than goodwill) reported on our balance sheets as part of property, plant and equipment consisted of the following:

	At March 31, 2022						At December 31, 2021
	Gross						Gross
	Carrying		Accumulated				Carrying		Accumulated
	Amount		Amortization		Net		Amount		Amortization		Net
Identifiable intangible assets subject to amortization:
Land easements	$	643	$	119	$	524	$	641	$	117	$	524
Capitalized software		1,075		468		607		1,066		451		615
Total	$	1,718	$	587	$	1,131	$	1,707	$	568	$	1,139

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Aggregate amortization expenses for intangible assets totaled $19 million and $17 million for the three months ended March 31, 2022 and 2021, respectively. The estimated annual amortization expense for the five-year period from 2022 to 2026 is as follows:

Year	Amortization Expense
2022	$	75
2023	$	75
2024	$	74
2025	$	74
2026	$	74

Operating Lease and Other Obligations

Operating lease and other obligations reported on our balance sheets consisted of the following:

	At March 31,		At December 31,
	2022		2021
Operating lease liabilities	$	135	$	133
Investment tax credits		4		4
Customer deposits – noncurrent		66		30
Other		72		64
Total operating lease and other obligations	$	277	$	231

Supplemental Cash Flow Information

	Three Months Ended March 31,
	2022		2021
Cash payments (receipts) related to:
Interest	$	84	$	80
Less capitalized interest		(3)		(3)
Interest payments (net of amounts capitalized)	$	81	$	77
Noncash investing and financing activities:
Construction expenditures financed through accounts payable (investing) (a)	$	194	$	182
ROU assets obtained in exchange for operating lease obligations (investing)	$	13	$	7

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(a)Represents end-of-period accruals.

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