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Accounts Receivable | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Accounts Receivable | Accounts Receivable Allowance for Credit Losses on Accounts Receivable The following table presents the rollforward of allowance for credit losses on Customer accounts receivable. The activity and balances were not material for the three months ended March 31, 2024.
Balance as of December 31, 2024 | $ | 190 |
Plus: Current period provision for expected credit losses | 16 |
Less: Write-offs, net of recoveries(a) | 12 |
Balance as of March 31, 2025 | $ | 194 |
__________ (a)Recoveries were not material. The Allowance for credit losses on Other accounts receivable was not material as of the balance sheet dates. Unbilled Customer Revenue We recorded $1,057 million and $1,109 million of unbilled customer revenues in Customer accounts receivables, net in the Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024, respectively. Sales of Customer Accounts Receivable In 2020, NER, a bankruptcy remote, special purpose entity, which is wholly owned by us, entered into a revolving accounts receivable financing arrangement with a number of financial institutions and a commercial paper conduit (Purchasers) to sell certain customer accounts receivable (Facility). On December 31, 2024, we amended the Facility. We no longer sell receivables to the Purchasers and all outstanding receivables were assigned back to us. Under the Facility's prior terms, NER sold eligible short-term customer accounts receivable to the Purchasers in exchange for cash and subordinated interest. The transfers were reported as sales of receivables in the consolidated financial statements. The subordinated interest in collections upon the receivables sold to the Purchasers is referred to as the DPP. As a result of the receivables being assigned back to NER under the amended Facility, NER forgave any and all remaining DPP owed by the Purchasers. The reassignment of receivables resulted in the recognition of $1,529 million of Customer accounts receivable as of December 31, 2024. See Note 11 — Debt and Credit Agreements for terms of the amended Facility. The following table presents our cash proceeds associated with the Facility prior to the amendment.
|  |  | Three Months Ended March 31, 2024
Proceeds from new transfers(a) |  |  | $ | 1,116 |
Cash collections received on DPP(b) |  |  | 1,794 |
Cash collections reinvested in the Facility |  |  | $ | 2,910 |
__________ (a)Customer accounts receivable sold into the Facility was $2,927 million. (b)Does not include the $150 million net cash payments to the Purchasers. We previously recognized the cash proceeds received upon sale in Cash flows from operating activities within the Changes in Other assets and liabilities line in the Consolidated Statements of Cash Flows, which was ($1,812) million for the three months ended March 31, 2024. The collection and reinvestment of DPP was recognized in Cash flows from investing activities in the Collection of DPP, net line in the Consolidated Statements of Cash Flows, which was $1,644 million for the three months ended March 31, 2024. See Note 15 — Variable Interest Entities for additional information on NER. Other Sales of Customer Accounts Receivables We are required, under supplier tariffs, to sell customer receivables to certain utility companies at a nominal discount. The total gross receivables sold were $1,147 million and $158 million for the three months ended March 31, 2025 and 2024, respectively. Prior to the Facility amendment discussed in the preceding paragraphs, certain accounts receivable subject to these supplier tariffs were sold to the Purchasers under the Facility.

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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