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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net income $ 634 $ 735
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and decommissioning 1,097 1,022
Bad debt expense 100 70
Allowance for equity funds used during construction (48) (39)
Deferred income taxes and tax credits, net 162 239
Wildfire Fund expense 76 78
Other (38) (101)
Effect of changes in operating assets and liabilities:    
Accounts receivable 37 (341)
Wildfire-related insurance receivable (5) 75
Inventories 31 49
Accounts payable 91 608
Wildfire-related claims (166) (253)
Other current assets and liabilities 73 (585)
Regulatory assets, liabilities, and balancing accounts, net 922 666
Other noncurrent assets and liabilities (118) 38
Net cash provided by operating activities 2,848 2,261
Cash Flows from Investing Activities    
Capital expenditures (2,635) (2,638)
Proceeds from sales and maturities of nuclear decommissioning trust investments 278 457
Purchases of nuclear decommissioning trust investments (317) (484)
Proceeds from sales and maturities of customer credit trust investments 99 81
Purchases of customer credit investments (669) (350)
Proceeds from self-insurance investments 33 0
Purchases of self-insurance investments (58) 0
Other 5 4
Net cash used in investing activities (3,264) (2,930)
Cash Flows from Financing Activities    
Borrowings under credit facilities 0 2,458
Repayments under credit facilities 0 (3,612)
Proceeds from issuance of long-term debt, net of premium, discount and issuance costs of $15 and $9 at respective dates 1,735 2,259
Repayments of long-term debt 0 (450)
Common stock dividends paid (55) (21)
Mandatory convertible preferred stock dividends paid (23) 0
Proceeds from DWR loan 0 232
Other (24) (86)
Net cash provided by financing activities 1,609 757
Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents 1,193 88
Cash, cash equivalents, restricted cash, and restricted cash equivalents at January 1 1,213 932
Cash, cash equivalents, restricted cash, and restricted cash equivalents at March 31 2,406 1,020
Less: Restricted cash and restricted cash equivalents (383) (362)
Cash and cash equivalents at March 31 2,023 658
Supplemental disclosures of cash flow information Cash paid for:    
Interest, net of amounts capitalized (707) (712)
Supplemental disclosures of noncash investing and financing activities    
Capital expenditures financed through accounts payable 904 666
Operating lease liabilities arising from obtaining ROU assets 3 1
Financing lease liabilities arising from obtaining ROU assets 0 12
DWR loan forgiveness and performance-based disbursements 74 34
Common Stock    
Supplemental disclosures of noncash investing and financing activities    
Dividends declared but not yet paid 55 21
Mandatory convertible preferred stock    
Supplemental disclosures of noncash investing and financing activities    
Dividends declared but not yet paid 24 0
AB 1054 Recovery Bonds    
Cash Flows from Financing Activities    
Repayment of AB 1054 recovery bonds $ (24) $ (23)