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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 750,535 $ 244,091
Restricted cash 492,317 15,028
Accounts receivable and unbilled revenues, net 457,171 546,704
Regulatory assets 53,895 68,453
Other 380,408 331,617
Total current assets 2,134,326 1,205,893
Property, plant and equipment, net    
Land 63,537 69,078
Plant and equipment 8,634,124 8,471,775
Right-of-use assets - finance lease 448,527 342,834
Construction in progress 366,412 320,225
Property, plant and equipment, gross 9,512,600 9,203,912
Less – accumulated depreciation (3,378,282) (3,240,828)
Total property, plant and equipment, net 6,134,318 5,963,084
Operating lease right-of-use-assets 66,553 79,686
Regulatory assets 227,424 226,351
Other 368,795 202,358
Total noncurrent assets 6,797,090 6,471,479
Assets of discontinued operations 0 9,566,449
Total assets 8,931,416 17,243,821
Current liabilities:    
Accounts payable 203,452 198,885
Interest and dividends payable 27,203 28,354
Short-term borrowings from non-affiliate 48,623 0
Current portion of long-term debt, net 109,171 16,496
Regulatory liabilities 26,568 36,559
Wildfire tort-related claims (Note 2) 478,750 75,000
Other 430,824 403,414
Total current liabilities 1,324,591 758,708
Noncurrent liabilities:    
Long-term debt, net 2,690,387 2,825,933
Deferred income taxes 0 402,246
Operating lease liabilities 56,523 69,972
Finance lease liabilities 426,598 331,262
Regulatory liabilities 1,217,515 1,114,131
Defined benefit plans liability 23,213 78,200
Wildfire tort-related claims (Note 2) 1,436,250 0
Other 242,957 247,637
Total noncurrent liabilities 6,093,443 5,069,381
Liabilities of discontinued operations 0 9,036,598
Total liabilities 7,418,034 14,864,687
Preferred stock of subsidiaries - not subject to mandatory redemption 34,293 34,293
Commitments and contingencies (Notes 2 and 4)
Shareholders’ equity    
Preferred stock, no par value, authorized 10,000,000 shares; issued: none 0 0
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 172,465,608 shares and 110,151,798 shares at December 31, 2024 and 2023, respectively 2,264,544 1,707,471
Retained earnings (788,916) 926,720
Accumulated other comprehensive income (loss), net of taxes    
Net unrealized losses on securities 0 (282,963)
Unrealized gains on derivatives 2,120 1,638
Retirement benefit plans 1,341 (8,025)
Accumulated other comprehensive income (loss), net of taxes 3,461 (289,350)
Total shareholders’ equity 1,479,089 2,344,841
Total capitalization and liabilities $ 8,931,416 $ 17,243,821