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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
REVENUES      
Natural gas $ 7,319 $ 7,141 $ 9,495
Electric 4,552 4,296 4,334
Energy-related businesses 1,831 1,748 2,891
Total revenues 13,702 13,185 16,720
Operating expenses:      
Operation and maintenance (5,281) (5,336) (5,458)
Regulatory disallowances (651) 0 0
Depreciation and amortization (2,563) (2,437) (2,227)
Franchise fees and other taxes (744) (693) (677)
Other income, net 169 136 131
Interest income 103 61 89
Interest expense (1,532) (1,049) (1,309)
Income before income taxes and equity earnings 1,169 2,110 2,627
Income tax expense (701) (219) (490)
Equity earnings 1,604 1,609 1,481
Net income 2,072 3,500 3,618
Earnings attributable to noncontrolling interests (238) (638) (543)
Losses attributable to contingently redeemable noncontrolling interest 3 0 0
Preferred deemed dividends (11) 0 0
Preferred dividends (29) (44) (44)
Preferred dividends of subsidiary (1) (1) (1)
Earnings attributable to common shares $ 1,796 $ 2,817 $ 3,030
Basic EPS:      
Earnings (in dollars per share) $ 2.75 $ 4.44 $ 4.81
Weighted-average common shares outstanding (in shares) 652,697 633,795 630,296
Diluted EPS:      
Earnings (in dollars per share) $ 2.75 $ 4.42 $ 4.79
Weighted-average common shares outstanding (in shares) 653,826 637,943 632,733
Cost of natural gas      
Operating expenses:      
Operating expenses $ (1,282) $ (1,132) $ (3,719)
Cost of electric fuel and purchased power      
Operating expenses:      
Operating expenses (385) (245) (375)
Energy-related businesses cost of sales      
Operating expenses:      
Operating expenses $ (367) $ (380) $ (548)