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v3.23.1

Balance Sheet Components (Tables) | 3 Months Ended
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Mar. 31, 2023
Balance Sheet Components [Abstract] |
Allowance for Credit Losses [Text Block] | The following summarizes activity in the allowance for credit losses (in millions):
| Three Months Ended March 31, |  |
| 2023 |  |
Balance as of beginning of period | $ | 12 |  |  |
Increase in provision | 3 |  |  |
Amounts written off | (3) |  |  |
Recoveries | 1 |  |  |
Balance as of end of period | $ | 13 |  |  |
Schedule of Other Current Assets [Table Text Block] | Other current assets consist of the following (in millions):
| March 31, 2023 |  | December 31, 2022
Prepaid expenses | $ | 89 |  |  | $ | 69 |
Assets from price risk management activities | 113 |  |  | 313 |
Margin deposits | 30 |  |  | 116 |
Other current assets | $ | 232 |  |  | $ | 498 |
Schedule of Public Utility Property, Plant, and Equipment [Table Text Block] | Electric utility plant, net consists of the following (in millions):
| March 31, 2023 |  | December 31, 2022
Electric utility plant in-service | $ | 12,704 |  |  | $ | 12,421 |
Construction work-in-progress | 411 |  |  | 467 |
Total cost | 13,115 |  |  | 12,888 |
Less: accumulated depreciation and amortization | (4,504) |  |  | (4,423) |
Electric utility plant, net | $ | 8,611 |  |  | $ | 8,465 |
Schedule of Regulatory Assets and Liabilities [Text Block] | Regulatory assets and liabilities consist of the following (in millions):
| March 31, 2023 |  | December 31, 2022
| Current |  | Noncurrent |  | Current |  | Noncurrent
Regulatory assets: |  |  |  |  |  |  |
Price risk management | $ | — |  |  | $ | 22 |  |  | $ | — |  |  | $ | 1 |
Pension and other postretirement plans | — |  |  | 95 |  |  | — |  |  | 95 |
Debt issuance costs | — |  |  | 21 |  |  | — |  |  | 21 |
Trojan decommissioning activities | — |  |  | 133 |  |  | — |  |  | 133 |
February 2021 ice storm and damage | 12 |  |  | 61 |  |  | 10 |  |  | 64 |
Power cost adjustment mechanism | 16 |  |  | 10 |  |  | 14 |  |  | 14 |
2020 Labor Day wildfire | 5 |  |  | 26 |  |  | 4 |  |  | 27 |
COVID-19 | 12 |  |  | 10 |  |  | — |  |  | 22 |
Wildfire mitigation | — |  |  | 31 |  |  | — |  |  | 28 |
Other | 20 |  |  | 72 |  |  | 26 |  |  | 68 |
Total regulatory assets | $ | 65 |  |  | $ | 481 |  |  | $ | 54 |  |  | $ | 473 |
Regulatory liabilities: |  |  |  |  |  |  |
Asset retirement removal costs | $ | — |  |  | $ | 1,145 |  |  | $ | — |  |  | $ | 1,136 |
Deferred income taxes | — |  |  | 190 |  |  | — |  |  | 194 |
Asset retirement obligations | — |  |  | 9 |  |  | — |  |  | 7 |
Price risk management | 12 |  |  | — |  |  | 195 |  |  | — |
Other | 34 |  |  | 54 |  |  | 39 |  |  | 52 |
Total regulatory liabilities | $ | 46 |  | * | $ | 1,398 |  |  | $ | 234 |  | * | $ | 1,389 |
* Included in Accrued expenses and other current liabilities in the condensed consolidated balance sheets.
Other Liabilities Disclosure [Text Block] | Accrued expenses and other current liabilities consist of the following (in millions):
| March 31, 2023 |  | December 31, 2022
Accrued employee compensation and benefits | $ | 52 |  |  | $ | 66 |
Accrued taxes payable | 30 |  |  | 29 |
Accrued interest payable | 46 |  |  | 31 |
Accrued dividends payable | 42 |  |  | 42 |
Regulatory liabilities—current | 46 |  |  | 234 |
Margin deposits from wholesale counterparties | — |  |  | 140 |
Other | 105 |  |  | 99 |
Total accrued expenses and other current liabilities | $ | 321 |  |  | $ | 641 |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Components of net periodic benefit cost under the defined benefit pension plan are as follows (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2022
Service cost |  |  |  |  | $ | 3 |  |  | $ | 4 |
Interest cost* |  |  |  |  | 9 |  |  | 7 |
Expected return on plan assets* |  |  |  |  | (11) |  |  | (12) |
Amortization of net actuarial loss* |  |  |  |  | — |  |  | 4 |
Net periodic benefit cost |  |  |  |  | $ | 1 |  |  | $ | 3 |
* The net expense portion of non-service cost components are included in Miscellaneous income (expense), net within Other income on the Company’s condensed consolidated statements of income and comprehensive income.

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