REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS (Tables)

3 Months Ended

Mar. 31, 2024

Regulated Operations [Abstract]

Long-Term Regulatory Assets

Noncurrent regulatory assets are comprised of the following:

	Balance at
(in millions)	March 31, 2024		December 31, 2023
Pension benefits	$	339	$	348
Environmental compliance costs	1,122		1,218
Price risk management	166		160
Catastrophic event memorandum account	1,031		1,074
Wildfire-related accounts	2,455		2,915
Deferred income taxes	3,748		3,543
Financing costs	192		196
SB 901 securitization	5,247		5,249
General rate case memorandum accounts	992		1,291
Other	1,041		1,195
Total noncurrent regulatory assets	$	16,333	$	17,189

Long-Term Regulatory Liabilities

Noncurrent regulatory liabilities are comprised of the following:

	Balance at
(in millions)	March 31, 2024		December 31, 2023
Cost of removal obligations	$	8,355	$	8,191
Public purpose programs	1,300		1,238
Employee benefit plans	1,037		1,032
Transmission tower wireless licenses	342		384
SFGO sale	138		185
SB 901 securitization	6,550		6,628
Wildfire self-insurance	498		407
Other	1,447		1,379
Total noncurrent regulatory liabilities	$	19,667	$	19,444

Current Regulatory Balancing Accounts Receivable

Current regulatory balancing accounts receivable and payable are comprised of the following:

	Balance at
(in millions)	March 31, 2024		December 31, 2023
Electric distribution	$	1,757	$	1,092
Electric transmission	105		99
Gas distribution and transmission	165		144
Energy procurement	1,122		1,002
Public purpose programs	340		137
Wildfire-related accounts	798		729
Insurance premium costs	37		227
Residential uncollectibles balancing accounts	55		507
Catastrophic event memorandum account	374		413
General rate case memorandum accounts	1,108		1,097
Other	581		213
Total regulatory balancing accounts receivable	$	6,442	$	5,660

Current Regulatory Balancing Accounts Payable

	Balance at
(in millions)	March 31, 2024		December 31, 2023
Electric transmission	$	178	$	200
Gas distribution and transmission	379		224
Energy procurement	408		77
Public purpose programs	391		299
SFGO sale	20		79
Wildfire-related accounts	163		125
Nuclear decommissioning adjustment mechanism	176		216
Other	446		449
Total regulatory balancing accounts payable	$	2,161	$	1,669