CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 5	$ 1,565	[1]
Restricted cash	2	21	[1]
Accounts receivable – trade, net	1,409	1,983	[1]
Accounts receivable – other, net	200	397	[1]
Due from unconsolidated affiliates	0	13	[1]
Income taxes receivable	79	90	[1]
Inventories	565	559	[1]
Prepaid expenses	247	255	[1]
Regulatory assets	500	60	[1]
Fixed-price contracts and other derivatives	35	91	[1]
Greenhouse gas allowances	200	217	[1]
Assets held for sale	28,465	0	[1]
Other current assets	19	34	[1]
Total current assets	31,726	5,285	[1]
Other assets:
Restricted cash	0	3	[1]
Regulatory assets	4,298	3,937	[1]
Greenhouse gas allowances	1,237	845	[1]
Nuclear decommissioning trusts	897	875	[1]
Dedicated assets in support of certain benefit plans	585	585	[1]
Deferred income taxes	19	172	[1]
Right-of-use assets – operating leases	1,219	1,177	[1]
Investment in Oncor Holdings	17,038	15,400	[1]
Other investments	144	2,534	[1]
Goodwill	0	1,602	[1]
Other intangible assets	0	292	[1]
Wildfire fund	250	262	[1]
Other long-term assets	1,155	1,749	[1]
Total other assets	26,842	29,433	[1]
Property, plant and equipment:
Property, plant and equipment	65,951	80,397	[1]
Less accumulated depreciation and amortization	(17,600)	(18,960)	[1]
Property, plant and equipment, net	48,351	61,437	[1]
Total assets	106,919	96,155	[1]
Current liabilities:
Short-term debt	1,833	2,016	[1]
Accounts payable – trade	1,301	2,238	[1]
Accounts payable – other	219	208	[1]
Dividends and interest payable	910	773	[1]
Accrued compensation and benefits	486	558	[1]
Regulatory liabilities	4	141	[1]
Mandatorily redeemable preferred stock	900	0	[1]
Current portion of long-term debt and finance leases	1,875	2,274	[1]
Greenhouse gas obligations	200	217	[1]
Liabilities held for sale	11,175	0	[1]
Total current liabilities	19,988	9,676	[1]
Long-term debt and finance leases	28,985	31,558	[1]
Deferred credits and other liabilities:
Due to unconsolidated affiliates	0	352	[1]
Regulatory liabilities	4,027	3,817	[1]
Greenhouse gas obligations	947	506	[1]
Pension and other postretirement benefit plan obligations, net of plan assets	127	168	[1]
Deferred income taxes	6,105	5,845	[1]
Asset retirement obligations	3,781	3,737	[1]
Deferred credits and other	2,740	2,708	[1]
Total deferred credits and other liabilities	17,727	17,133	[1]
Commitments and contingencies			[1]
Contingently redeemable noncontrolling interest	1,933	0	[1]
Equity:
Common stock	14,203	13,520	[1]
Retained earnings	17,161	16,979	[1]
Accumulated other comprehensive income (loss)	(212)	(166)	[1]
Total shareholders’ equity	31,152	31,222	[1]
Preferred stock of subsidiary	20	20	[1]
Other noncontrolling interests	7,114	6,546	[1]
Total equity	38,286	37,788	[1]
Total liabilities, contingently redeemable noncontrolling interest, and equity	106,919	96,155	[1]
Related Party
Current assets:
Due from unconsolidated affiliates	0	13
Current liabilities:
Other current liabilities	17	0	[1]
Deferred credits and other liabilities:
Due to unconsolidated affiliates	0	352
Nonrelated Party
Current liabilities:
Other current liabilities	1,068	1,251	[1]
Series C Preferred Stock
Equity:
Preferred stock	$ 0	$ 889	[1]

[1] Derived from audited financial statements.