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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 395 $ 503 $ 229
Adjustments to reconcile net income to net cash provided by operating activities:      
Impairment of assets and other charges 3 4 311
Deferred income taxes, net 88 255 117
Depreciation and amortization 531 507 486
Amortization of nuclear fuel 33 39 34
Other adjustments (21) (33) 14
Changes in certain assets and liabilities:      
Receivables 5 (72) (79)
Receivables – affiliated and related party (2) 14 (15)
Inventories (2) (83) (13)
Prepayments (8) (6) 13
Regulatory assets 334 (532) (152)
Regulatory liabilities (301) (94) (109)
Accounts payable (68) 52 44
Accounts payable – affiliated and related party (35) 59 (59)
Interest accrued 4 2 (22)
Taxes accrued 12 14 7
Pension and other postretirement benefits 2 (50) (8)
Other assets and liabilities 49 (73) (79)
Net cash provided by operating activities 1,019 506 719
Investing Activities      
Property additions and construction expenditures (957) (697) (758)
Proceeds from investments and sales or disposals of assets, including asset retirement costs (42) (19) 7
Purchase of investments (4) (5) (9)
Short-term investments – affiliated 0 0 15
Other 5 6 (5)
Net cash used in investing activities (998) (715) (750)
Financing Activities      
Proceeds from issuance of debt 500 0 397
Repayment of long-term debt 0 0 (34)
Dividend to parent (200) (433) (188)
Short-term borrowings, net 5 249 0
Short-term borrowings – affiliated, net (326) 354 60
Return of capital to parent 0 0 (150)
Other (10) (4) (5)
Net cash provided by (used in) financing activities (31) 166 80
Net increase (decrease) in cash, restricted cash and equivalents (10) (43) 49
Cash, restricted cash and equivalents at beginning of period 11 54 5
Cash, restricted cash and equivalents at end of period 1 11 54
Supplemental Cash Flow Information      
Interest paid (net of capitalized interest of $20, $7 and $3) [1] 176 190 175
Income taxes paid 69 0 16
Income taxes received 0 130 0
Noncash investing and financing activities:      
Accrued construction expenditures [2] 116 126 110
Operating leases [2] 2 6 0
Contributed capital [2] $ 0 $ 72 $ 149
[1] Excludes amounts related to affiliated debt discussed in Note 6.
[2] See Note 5 for noncash financing activities related to capital contributions associated with the settlement of litigation. See Note 12 for noncash investing activities related to the transfer of property associated with the settlement of litigation.