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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 494 $ 940
Restricted cash and restricted cash equivalents (includes $207 million and $263 million related to VIEs at respective dates) 221 273
Accounts receivable    
Customers (net of allowance for doubtful accounts of $404 million and $418 million at respective dates) (includes $1.7 billion and $1.9 billion related to VIEs, net of allowance for doubtful accounts of $404 million and $418 million at respective dates) 2,025 2,220
Accrued unbilled revenue (includes $1.6 billion and $1.3 billion related to VIEs at respective dates) 1,862 1,487
Regulatory balancing accounts 5,657 7,227
Other (net of allowance for doubtful accounts of $89 million and $35 million at respective dates) 2,095 1,810
Regulatory assets 302 234
Inventories    
Gas stored underground and fuel oil 73 52
Materials and supplies 713 768
Wildfire Fund asset 298 301
Wildfire self-insurance asset 969 905
Other 452 999
Total current assets 15,161 17,216
Property, Plant, and Equipment    
Property, Plant, and Equipment 123,445 118,262
Construction work in progress 4,636 4,458
Financing lease ROU asset and other 7 814
Total property, plant, and equipment 128,088 123,534
Accumulated depreciation (36,288) (35,305)
Net property, plant, and equipment 91,800 88,229
Other Noncurrent Assets    
Regulatory assets 15,853 15,561
Customer credit trust 935 377
Nuclear decommissioning trusts 4,022 3,833
Operating lease ROU asset 500 524
Wildfire Fund asset 3,891 4,070
Other (includes noncurrent accounts receivable of $72 million and $82 related to VIEs, net of noncurrent allowance for doubtful accounts of $17 million and $18 at respective dates) 4,222 3,850
Total other noncurrent assets 29,423 28,215
TOTAL ASSETS 136,384 133,660
Current Liabilities    
Short-term borrowings 1,524 1,523
Long-term debt, classified as current (includes $217 million and $222 million related to VIEs at respective dates) 3,643 2,146
Accounts payable    
Trade creditors 2,663 2,748
Regulatory balancing accounts 2,516 3,169
Other 862 748
Operating lease liabilities 88 85
Financing lease liabilities 1 577
Interest payable (includes $65 million and $91 million related to VIEs at respective dates) 767 760
Wildfire-related claims 787 916
Other 3,334 3,658
Total current liabilities 16,185 16,330
Noncurrent Liabilities    
Long-term debt (includes $10.2 billion and $10.1 billion related to VIEs at respective dates) 54,004 53,569
Regulatory liabilities 19,871 19,417
Pension and other postretirement benefits 824 808
Asset retirement obligations 5,499 5,444
Deferred income taxes 3,550 3,082
Operating lease liabilities 412 439
Financing lease liabilities 3 4
Other 4,598 4,166
Total noncurrent liabilities 88,761 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; 2,197,837,402 and 2,193,573,536 shares outstanding at respective dates 31,560 31,555
Reinvested earnings (1,949) (2,966)
Accumulated other comprehensive loss (4) (19)
Total shareholders’ equity 31,186 30,149
Noncontrolling Interest - Preferred Stock of Subsidiary 252 252
Total equity 31,438 30,401
TOTAL LIABILITIES AND EQUITY $ 136,384 $ 133,660