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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 1,936 $ 1,771 $ 1,736
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 2,769 2,471 2,436
Nuclear fuel amortization 106 96 118
Deferred income taxes 225 (59) (140)
Allowance for equity funds used during construction (168) (91) (75)
Earnings from equity method investments (19) (35) (36)
Dividends from equity method investments 34 35 37
Provision for bad debts 47 79 73
Share-based compensation expense 33 25 20
Changes in operating assets and liabilities:      
Accounts receivable 19 (27) (429)
Accrued unbilled revenues 21 252 (243)
Inventories (140) (98) (203)
Other current assets (139) 86 (58)
Accounts payable 37 (149) 195
Net regulatory assets and liabilities 436 911 570
Other current liabilities (317) 200 102
Pension and other employee benefit obligations (89) 17 (49)
Other, net (150) (157) (122)
Net Cash Provided by (Used in) Operating Activities, Total 4,641 5,327 3,932
Investing activities      
Capital/construction expenditures (7,364) (5,854) (4,638)
Purchase of investment securities (998) (994) (1,332)
Proceeds from the sale of investment securities 961 959 1,297
Other, net (27) (37) 20
Net Cash Provided by (Used in) Investing Activities, Total (7,428) (5,926) (4,653)
Financing activities      
Repayments of short-term borrowings, net (90) (28) (192)
Proceeds from Issuance of Long-term Debt 3,647 2,630 2,164
Repayments of long-term debt (656) (1,151) (601)
Proceeds from Issuance of Common Stock 1,117 270 322
Payments of Dividends (1,175) (1,092) (1,012)
Proceeds from (Payments for) Other Financing Activities (6) (12) (15)
Net Cash Provided by (Used in) Financing Activities, Total 2,837 617 666
Net change in cash and cash equivalents 50 18 (55)
Cash and Cash Equivalents, at Carrying Value, Beginning Balance 129 111 166
Cash and Cash Equivalents, at Carrying Value, Ending Balance 179 129 111
Supplemental disclosure of cash flow information:      
Interest Paid, Excluding Capitalized Interest, Operating Activities (1,131) (945) (887)
Income Taxes Paid, Net 588 92 (15)
Other Noncash Investing and Financing Items [Abstract]      
Capital Expenditures Incurred but Not yet Paid 964 553 626
Inventory transfers to plant, property and equipment 258 197 78
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 138 238 141
Allowance for equity funds used during construction 168 91 75
Stock Issued $ 68 $ 64 $ 57