Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 501,778	$ 750,535
Restricted cash	478,968	492,317
Accounts receivable and unbilled revenues, net	491,526	457,171
Regulatory assets	50,039	53,895
Other	305,999	380,408
Assets held for sale	56,266	0
Total current assets	1,884,576	2,134,326
Property, plant and equipment, net
Land	54,596	63,537
Plant and equipment	8,730,645	8,634,124
Right-of-use assets - finance lease	539,485	448,527
Construction in progress	382,147	366,412
Property, plant and equipment, gross	9,706,873	9,512,600
Less – accumulated depreciation	(3,518,501)	(3,378,282)
Total property, plant and equipment, net	6,188,372	6,134,318
Operating lease right-of-use-assets	56,604	66,553
Regulatory assets	258,076	227,424
Defined benefit pension and other postretirement benefit plans asset	219,211	107,335
Other	316,040	261,460
Total noncurrent assets	7,038,303	6,797,090
Total assets	8,922,879	8,931,416
Current liabilities:
Accounts payable	219,062	203,452
Interest and dividends payable	31,458	27,203
Short-term borrowings	0	48,623
Current portion of long-term debt, net	124,959	109,171
Regulatory liabilities	51,997	26,568
Wildfire tort-related claims	530,000	478,750
Other	410,458	430,824
Liabilities held for sale	59,803	0
Total current liabilities	1,427,737	1,324,591
Noncurrent liabilities:
Long-term debt, net	2,285,016	2,690,387
Operating lease liabilities	43,278	56,523
Finance lease liabilities	505,590	426,598
Regulatory liabilities	1,392,147	1,217,515
Defined benefit plans liability	23,656	23,213
Wildfire tort-related claims	1,436,250	1,436,250
Other	203,286	242,957
Total noncurrent liabilities	5,889,223	6,093,443
Total liabilities	7,316,960	7,418,034
Preferred stock of subsidiaries - not subject to mandatory redemption	0	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 400,000,000 shares; issued and outstanding: 172,620,476 shares and 172,465,608 shares at December 31, 2025 and 2024, respectively	2,268,187	2,264,544
Retained earnings (deficit)	(665,606)	(788,916)
Accumulated other comprehensive income, net of taxes
Unrealized gains on derivatives	600	2,120
Retirement benefit plans	2,738	1,341
Accumulated other comprehensive income, net of taxes	3,338	3,461
Total shareholders’ equity	1,605,919	1,479,089
Total capitalization and liabilities	$ 8,922,879	$ 8,931,416