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REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS
 3 Months Ended
Mar. 31, 2026
Regulated Operations [Abstract]  
REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS
Regulatory Assets

Noncurrent regulatory assets are comprised of the following:
 Balance at
(in millions)March 31, 2026December 31, 2025
Pension benefits
$381 $400 
Environmental compliance costs1,140 1,158 
Price risk management97 100 
Catastrophic event memorandum account
466 666 
Wildfire-related accounts
1,360 1,626 
Deferred income taxes6,460 6,157 
Financing costs199 202 
SB 901 securitization
5,058 5,089 
Other561 583 
Total noncurrent regulatory assets$15,722 $15,981 
Regulatory Liabilities

Noncurrent regulatory liabilities are comprised of the following:
 Balance at
(in millions)March 31, 2026December 31, 2025
Cost of removal obligations
$9,680 $9,488 
Public purpose programs
1,203 1,169 
Employee benefit plans
1,049 1,043 
Transmission tower wireless licenses
254 257 
SB 901 securitization
5,898 6,010 
Wildfire self-insurance
1,041 1,035 
Other1,140 1,186 
Total noncurrent regulatory liabilities
$20,265 $20,188 
Regulatory Balancing Accounts

Current regulatory balancing accounts receivable and payable are comprised of the following:
Balance at
(in millions)March 31, 2026December 31, 2025
Electric distribution
$2,796 $1,465 
Electric transmission
133 122 
Gas distribution and transmission
89 142 
Energy procurement
1,184 2,711 
Public purpose programs
258 151 
Wildfire-related accounts
71 84 
Residential uncollectibles balancing accounts
60 278 
Catastrophic event memorandum account
27 181 
Other407 1,166 
Total regulatory balancing accounts receivable$5,025 $6,300 

Balance at
(in millions)March 31, 2026December 31, 2025
Electric transmission
$9 $37 
Gas distribution and transmission
92 78 
Energy procurement
75 1,502 
Public purpose programs
492 472 
SFGO sale20 83 
Wildfire-related accounts
420 338 
Nuclear decommissioning adjustment mechanism
1 1 
Other487 608 
Total regulatory balancing accounts payable$1,596 $3,119 

For more information, see Note 3 of the Notes to the Consolidated Financial Statements in Item 8 of the 2025 Form 10-K.