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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:      
Net Income/(Loss) $ 1,699,891 $ 819,172 $ (434,721)
Adjustments to Reconcile Net Income/(Loss) to Net Cash Flows Provided by Operating Activities:      
Depreciation 1,568,578 1,433,503 1,305,840
Deferred Income Taxes 27,313 435,889 85,405
Uncollectible Expense 101,141 74,069 72,468
Pension, SERP and PBOP Income, Net (80,628) (73,564) (90,706)
Regulatory Over/(Under) Recoveries, Net 13,062 (919,359) (151,548)
Amortization 835,909 342,864 (490,117)
Cost of Removal Expenditures (275,906) (294,984) (315,699)
Losses on Offshore Wind 284,000 464,019 2,167,000
Loss on Pending Sale of Aquarion 0 297,000 0
Other (4,826) (108,365) (59,886)
Changes in Current Assets and Liabilities:      
Receivables and Unbilled Revenues, Net (364,156) (432,620) (124,393)
Taxes Receivable/Accrued, Net 143,331 55,502 36,357
Accounts Payable 84,192 47,082 (287,637)
Other Current Assets and Liabilities, Net 81,671 19,529 (66,202)
Net Cash Flows Provided by Operating Activities 4,113,572 2,159,737 1,646,161
Investing Activities:      
Investments in Property, Plant and Equipment (4,158,669) (4,480,529) (4,336,849)
Proceeds from Sales of Marketable Securities 439,311 268,164 395,604
Purchases of Marketable Securities (416,082) (242,959) (336,779)
Payments for Offshore Wind Contingent Liability (200,842) 0 0
Investments in Unconsolidated Affiliates (701) (929,688) (1,680,473)
Proceeds from Sales of Offshore Wind Investments 0 862,713 1,090,662
Other Investing Activities 30,820 (13,365) (2,897)
Net Cash Flows Used in Investing Activities (4,306,163) (4,535,664) (4,870,732)
Financing Activities:      
Issuance of Common Shares, Net of Issuance Costs 465,389 989,447 0
Cash Dividends on Common Shares (1,093,074) (1,001,488) (918,995)
Cash Dividends on Preferred Stock (7,519) (7,519) (7,519)
(Decrease)/Increase in Notes Payable (517,348) (94,959) 695,552
Repayment of Rate Reduction Bonds (43,210) (43,210) (43,210)
Issuance of Long-Term Debt 2,942,353 4,501,623 5,198,345
Retirement of Long-Term Debt (1,400,331) (1,949,995) (2,008,470)
Other Financing Activities (34,732) (57,082) (46,466)
Net Cash Flows Provided by Financing Activities 311,528 2,336,817 2,869,237
Net Increase/(Decrease) in Cash and Restricted Cash 118,937 (39,110) (355,334)
Cash and Restricted Cash - Beginning of Year 127,308 166,418 521,752
Cash and Restricted Cash - End of Year $ 246,245 $ 127,308 $ 166,418