Organization and Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2019

The following table provides information about the composition of net regulatory assets and liabilities as of December 31, 2019 and December 31, 2018, and the changes during the year ended December 31, 2019:



Net Regulatory Assets (Liabilities) by Source	December 31, 2019			December 31, 2018			Change
	(In millions)
Regulatory transition costs	$	(8	)	$	49		$	(57	)
Customer payables for future income taxes	(2,605		)	(2,725		)	120
Nuclear decommissioning and spent fuel disposal costs	(197		)	(148		)	(49		)
Asset removal costs	(756		)	(787		)	31
Deferred transmission costs	298			170			128
Deferred generation costs	214			202			12
Deferred distribution costs	155			208			(53		)
Contract valuations	51			72			(21		)
Storm-related costs	551			500			51
Other	36			52			(16		)
Net Regulatory Liabilities included on the Consolidated Balance Sheets	$	(2,261	)	$	(2,407	)	$	146

The following table provides information about the composition of net regulatory assets that do not earn a current return as of December 31, 2019 and 2018, of which approximately $228 million and $290 million, respectively, are currently being recovered through rates over varying periods depending on the nature of the deferral and the jurisdiction.



Regulatory Assets by Source Not Earning a Current Return	December 31, 2019		December 31, 2018		Change
			(in millions)
Regulatory transition costs	$	7	$	10	$	(3	)
Deferred transmission costs	27		80		(53		)
Deferred generation costs	15		8		7
Storm-related costs	471		363		108
Other	25		42		(17		)
Regulatory Assets Not Earning a Current Return	$	545	$	503	$	42

Receivables from customers

Billed and unbilled customer receivables as of December 31, 2019 and 2018, net of allowance for uncollectible accounts, are included below. The allowance for uncollectible customer receivables is based on historical loss information comprised of a rolling 36-month average net write-off percentage of revenues.



Customer Receivables	December 31, 2019		December 31, 2018
	(In millions)
Billed	$	564	$	686
Unbilled	527		535
Total	$	1,091	$	1,221

Reconciliation of basic and diluted earnings per share



	Year Ended December 31,
Reconciliation of Basic and Diluted EPS of Common Stock	2019			2018			2017

(In millions, except per share amounts)
EPS of Common Stock
Income from continuing operations	$	904		$	1,022		$	(289	)
Less: Preferred dividends	(3		)	(71		)	—
Less: Amortization of beneficial conversion feature	—			(296		)	—
Less: Undistributed earnings allocated to preferred stockholders⁽¹⁾	(1		)	—			—
Income (loss) from continuing operations available to common stockholders	900			655			(289		)
Discontinued operations, net of tax	8			326			(1,435		)
Less: Undistributed earnings allocated to preferred stockholders ⁽¹⁾	—			—			—
Income (loss) from discontinued operations available to common stockholders	8			326			(1,435		)

Income (loss) attributable to common stockholders, basic	$	908		$	981		$	(1,724	)

Income allocated to preferred stockholders, preferred dilutive ⁽²⁾	4			N/A			N/A

Income (loss) attributable to common stockholders, dilutive	$	912		$	981		$	(1,724	)

Share Count information:
Weighted average number of basic shares outstanding	535			492			444
Assumed exercise of dilutive stock options and awards	3			2			—
Assumed conversion of preferred stock	4			—			—
Weighted average number of diluted shares outstanding	542			494			444

Income (loss) attributable to common stockholders, per common share:
Income from continuing operations, basic	$	1.69		$	1.33		$	(0.65	)
Discontinued operations, basic	0.01			0.66			(3.23		)
Income (loss) attributable to common stockholders, basic	$	1.70		$	1.99		$	(3.88	)

Income from continuing operations, diluted	$	1.67		$	1.33		$	(0.65	)
Discontinued operations, diluted	0.01			0.66			(3.23		)
Income (loss) attributable to common stockholders, diluted	$	1.68		$	1.99		$	(3.88	)


⁽¹⁾	Undistributed earnings were not allocated to participating securities for the year ended December 31, 2018, as income from continuing operations less dividends declared (common and preferred) and deemed dividends were a net loss. Undistributed earning allocated to participating securities for the year ended December 31, 2019 were immaterial.

⁽²⁾

The shares of common stock issuable upon conversion of the preferred shares (26 million shares) were not included for 2018 as their inclusion would be anti-dilutive to basic EPS from continuing operations. Amounts allocated to preferred stockholders of $4 million for the year ended December 31,2019 are included within Income from continuing operations available to common stockholders for diluted earnings.

Property, plant and equipment balances

Property, plant and equipment balances by segment as of December 31, 2019 and 2018, were as follows:



	December 31, 2019
Property, Plant and Equipment	In Service⁽¹⁾		Accum. Depr.			Net Plant		CWIP		Total
	(In millions)
Regulated Distribution	$	28,735	$	(8,540	)	$	20,195	$	744	$	20,939
Regulated Transmission	12,023		(2,383		)	9,640		526		10,166
Corporate/Other	1,009		(504		)	505		40		545
Total	$	41,767	$	(11,427	)	$	30,340	$	1,310	$	31,650



	December 31, 2018
Property, Plant and Equipment	In Service⁽¹⁾		Accum. Depr.			Net Plant		CWIP		Total
	(In millions)
Regulated Distribution	$	27,520	$	(8,132	)	$	19,388	$	628	$	20,016
Regulated Transmission	11,041		(2,210		)	8,831		545		9,376
Corporate/Other	908		(451		)	457		62		519
Total	$	39,469	$	(10,793	)	$	28,676	$	1,235	$	29,911

⁽¹⁾Includes finance leases of $163 million and $173 million as of December 31, 2019 and 2018, respectively.

Summary of changes in goodwill

The following table presents goodwill by reporting unit as of December 31, 2019:



	Regulated Distribution		Regulated Transmission		Consolidated
	(In millions)
Goodwill	$	5,004	$	614	$	5,618