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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 2,023 $ 940
Restricted cash and restricted cash equivalents (includes $369 million and $263 million related to VIEs at respective dates) 383 273
Accounts receivable    
Customers (net of allowance for doubtful accounts of $424 million and $418 million at respective dates) (includes $1.8 billion and $1.9 billion related to VIEs, net of allowance for doubtful accounts of $424 million and $418 million at respective dates) 2,133 2,220
Accrued unbilled revenue (includes $1.3 billion and $1.3 billion related to VIEs at respective dates) 1,409 1,487
Regulatory balancing accounts 5,852 7,227
Other (net of allowance for doubtful accounts of $40 million and $35 million at respective dates) 1,879 1,810
Regulatory assets 212 234
Inventories    
Gas stored underground and fuel oil 45 52
Materials and supplies 744 768
Wildfire Fund asset 301 301
Wildfire self-insurance asset 939 905
Other 973 999
Total current assets 16,893 17,216
Property, Plant, and Equipment    
Property, Plant, and Equipment 120,256 118,262
Construction work in progress 4,635 4,458
Financing lease ROU asset and other 814 814
Total property, plant, and equipment 125,705 123,534
Accumulated depreciation (36,034) (35,305)
Net property, plant, and equipment 89,671 88,229
Other Noncurrent Assets    
Regulatory assets 15,551 15,561
Customer credit trust 949 377
Nuclear decommissioning trusts 3,854 3,833
Operating lease ROU asset 513 524
Wildfire Fund asset 3,995 4,070
Income taxes receivable 1 1
Other (includes noncurrent accounts receivable of $84 million and $82 related to VIEs, net of noncurrent allowance for doubtful accounts of $19 million and $18 at respective dates) 4,016 3,849
Total other noncurrent assets 28,879 28,215
TOTAL ASSETS 135,443 133,660
Current Liabilities    
Short-term borrowings 1,524 1,523
Long-term debt, classified as current (includes $223 million and $222 million related to VIEs at respective dates) 4,699 2,146
Accounts payable    
Trade creditors 2,521 2,748
Regulatory balancing accounts 2,575 3,169
Other 790 748
Operating lease liabilities 87 85
Financing lease liabilities 570 577
Interest payable (includes $176 million and $91 million related to VIEs at respective dates) 688 760
Wildfire-related claims 750 916
Other 3,618 3,658
Total current liabilities 17,822 16,330
Noncurrent Liabilities    
Long-term debt (includes $10.1 billion and $10.1 billion related to VIEs at respective dates) 52,659 53,569
Regulatory liabilities 19,637 19,417
Pension and other postretirement benefits 813 808
Asset retirement obligations 5,509 5,444
Deferred income taxes 3,251 3,082
Operating lease liabilities 425 439
Financing lease liabilities 4 4
Other 4,386 4,166
Total noncurrent liabilities 86,684 86,929
Shareholders’ Equity    
Mandatory convertible preferred stock 1,579 1,579
Common stock, no par value, authorized 3,600,000,000 and 3,600,000,000 shares at respective dates; 2,197,685,013 and 2,193,573,536 shares outstanding at respective dates 31,532 31,555
Reinvested earnings (2,414) (2,966)
Accumulated other comprehensive loss (12) (19)
Total shareholders’ equity 30,685 30,149
Noncontrolling Interest - Preferred Stock of Subsidiary 252 252
Total equity 30,937 30,401
TOTAL LIABILITIES AND EQUITY $ 135,443 $ 133,660