Balance Sheet Components

12 Months Ended

Dec. 31, 2023

BALANCE SHEET COMPONENTS

Accounts Receivable, Net

Accounts receivable, net includes $138 million and $131 million of unbilled revenues as of December 31, 2023 and 2022, respectively. Accounts receivable is net of an allowance for uncollectible accounts of $9 million as of December 31, 2023 and $12 million as of December 31, 2022. The following is the activity in the allowance for uncollectible accounts (in millions):


	Years Ended December 31,
	2023		2022		2021
Balance as of beginning of year	$	12	$	26	$	16
(Decrease)/Increase in provision *	5		(2)		35
Amounts written off, less recoveries	(8)		(12)		(25)
Balance as of end of year	$	9	$	12	$	26

* Pursuant to the Company’s COVID-19 deferral, certain decreases and increases in the provision for bad debt have been deferred as a net Regulatory Asset. Of the amounts recorded as decreases and increases in the provision, reductions of $10 million and increases of $29 million for the years ended December 31, 2022 and December 31, 2021, respectively, have been offset within the COVID-19 Regulatory Asset. See Note 7, Regulatory Assets and Liabilities for more information.

Other Current Assets and Accrued Expenses and Other Current Liabilities

Other current assets and Accrued expenses and other current liabilities consist of the following (in millions):


	As of December 31,
	2023		2022
Other current assets:
Prepaid expenses	$	68	$	69


Margin deposits	92		116
Assets from price risk management activities	22		313

	$	182	$	498
Accrued expenses and other current liabilities:
Regulatory liabilities—current	$	48	$	234
Accrued employee compensation and benefits	74		66
Accrued dividends payable	51		42
Accrued interest payable	40		31
Accrued taxes payable	30		29
Margin deposits from wholesale counterparties	5		140
Other	107		99
	$	355	$	641

Electric Utility Plant, Net

Electric utility plant, net consist of the following (in millions):


	As of December 31,
	2023		2022
Electric utility plant:
Generation	$	4,986	$	4,709
Transmission	1,144		1,119
Distribution	5,252		4,813
General	1,014		973
Intangible	933		807
Total in service	13,329		12,421
Accumulated depreciation and amortization	(4,757)		(4,423)
Total in service, net	8,572		7,998
Construction work-in-progress *	974		467
Electric utility plant, net	$	9,546	$	8,465

*The Clearwater Wind Project, with $411 million in CWIP, was placed in-service on January 5, 2024.