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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net Income $ 1,404 $ 1,397 $ 1,083
Adjustments to reconcile Net Income to Net cash from operating activities:      
Depreciation and amortization 1,732 1,606 1,468
Nuclear fuel amortization 55 59 42
Allowance for equity funds used during construction (86) (42) (29)
Deferred income taxes 194 181 44
Equity (earnings) losses of equity method investees (15) (3) 14
Dividends from equity method investees 3 3 4
Asset (gains) losses and impairments, net 28 16 (5)
Changes in assets and liabilities:      
Accounts receivable, net (40) 398 (352)
Inventories (191) (110) (98)
Prepaid postretirement benefit costs (72) (62) 107
Accounts payable 45 (306) 109
Accrued pension liability (136) (28) 39
Accrued postretirement liability (68) 14 (71)
Derivative assets and liabilities 25 (321) 65
Regulatory assets and liabilities 586 594 (766)
Other current and noncurrent assets and liabilities 179 (176) 323
Net cash from operating activities 3,643 3,220 1,977
Investing Activities      
Plant and equipment expenditures — utility (4,399) (3,872) (3,311)
Plant and equipment expenditures — non-utility (68) (62) (67)
Proceeds from sale of assets 46 3 24
Proceeds from sale of nuclear decommissioning trust fund assets 555 681 879
Investment in nuclear decommissioning trust funds (559) (678) (878)
Distributions from equity method investees 30 25 16
Contributions to equity method investees (27) (27) (13)
Notes receivable (449) (86) (30)
Investment in time deposits (1,050) 0 0
Redemption of time deposits 1,050 0 0
Other (80) (79) (51)
Net cash used for investing activities (4,951) (4,095) (3,431)
Financing Activities      
Issuance of long-term debt, net of discount and issuance costs 4,533 3,167 2,171
Redemption of long-term debt (2,139) (1,616) (1,587)
Short-term borrowings, net (216) 121 404
Issuance of common stock 0 0 1,300
Repurchase of common stock 0 0 (55)
Dividends paid on common stock (810) (752) (685)
Other (23) (37) (86)
Net cash from financing activities 1,345 883 1,462
Net Increase in Cash, Cash Equivalents, and Restricted Cash 37 8 8
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 51 43 35
Cash, Cash Equivalents, and Restricted Cash at End of Period 88 51 43
Supplemental disclosure of cash information      
Cash paid (received) for: Interest, net of interest capitalized 869 751 638
Cash paid (received) for: Income taxes [1] (230) (5) (3)
Supplemental disclosure of non-cash investing and financing activities      
Plant and equipment expenditures in accounts payable $ 454 $ 490 $ 435
[1] 2024 cash received primarily relates to the sale of PTCs and ITCs. See Note 9 to the Consolidated Financial Statements, "Income Taxes," for additional information.