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v3.25.1

Balance Sheet Components (Tables) | 3 Months Ended
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Mar. 31, 2025
Balance Sheet Components [Abstract] |
Allowance for Credit Losses [Text Block] | The following summarizes activity during 2025 in the allowance for credit losses (in millions):
| Three Months Ended March 31, |  |
Balance as of beginning of period | $ | 12 |  |  |
Increase in provision | 3 |  |  |
Amounts written off | (4) |  |  |
Recoveries | 2 |  |  |
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, 2025 |  | December 31, 2024
Prepaid expenses | $ | 119 |  |  | $ | 81 |
Assets from price risk management activities | 26 |  |  | 32 |
Margin deposits | 70 |  |  | 125 |
Other current assets | $ | 215 |  |  | $ | 238 |
Schedule of Public Utility Property, Plant, and Equipment [Table Text Block] | Electric utility plant, net consists of the following (in millions):
| March 31, 2025 |  | December 31, 2024
Electric utility plant in-service | $ | 15,028 |  |  | $ | 14,863 |
Construction work-in-progress | 693 |  |  | 567 |
Total cost | 15,721 |  |  | 15,430 |
Less: accumulated depreciation and amortization | (5,187) |  |  | (5,085) |
Electric utility plant, net | $ | 10,534 |  |  | $ | 10,345 |
Schedule of Regulatory Assets and Liabilities [Text Block] | Regulatory assets and liabilities consist of the following (in millions):
| March 31, 2025 |  | December 31, 2024
| Current |  | Noncurrent |  | Current |  | Noncurrent
Regulatory assets: |  |  |  |  |  |  |
Price risk management | $ | 83 |  |  | $ | 60 |  |  | $ | 115 |  |  | $ | 70 |
Pension and other postretirement plans | — |  |  | 84 |  |  | — |  |  | 84 |
Trojan decommissioning activities | — |  |  | 162 |  |  | — |  |  | 161 |
February 2021 ice storm and damage | 13 |  |  | 43 |  |  | 14 |  |  | 44 |
January 2024 storm and damage | — |  |  | 46 |  |  | — |  |  | 46 |
Reliability contingency events | — |  |  | 95 |  |  | — |  |  | 90 |
2020 Labor Day wildfire | 5 |  |  | 18 |  |  | 6 |  |  | 18 |
Wildfire mitigation | 44 |  |  | — |  |  | 43 |  |  | — |
Other | 19 |  |  | 125 |  |  | 27 |  |  | 119 |
Total regulatory assets | $ | 164 |  |  | $ | 633 |  |  | $ | 205 |  |  | $ | 632 |
Regulatory liabilities: |  |  |  |  |  |  |
Asset retirement removal costs | $ | — |  |  | $ | 1,210 |  |  | $ | — |  |  | $ | 1,199 |
Deferred income taxes | — |  |  | 174 |  |  | — |  |  | 179 |
Clearwater RAC | 41 |  |  | 4 |  |  | — |  |  | 40 |
Other | 40 |  |  | 24 |  |  | 53 |  |  | 22 |
Total regulatory liabilities | $ | 81 |  | * | $ | 1,412 |  |  | $ | 53 |  | * | $ | 1,440 |
* 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, 2025 |  | December 31, 2024
Accrued employee compensation and benefits | $ | 56 |  |  | $ | 80 |
Accrued taxes payable | 32 |  |  | 36 |
Accrued interest payable | 54 |  |  | 49 |
Accrued dividends payable | 57 |  |  | 57 |
Regulatory liabilities—current | 81 |  |  | 53 |
Margin deposits from wholesale counterparties | 11 |  |  | 5 |
Other | 146 |  |  | 130 |
Total accrued expenses and other current liabilities | $ | 437 |  |  | $ | 410 |
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,
|  |  |  |  | 2025 |  | 2024
Service cost |  |  |  |  | $ | 2 |  |  | $ | 3 |
Interest cost* |  |  |  |  | 8 |  |  | 8 |
Expected return on plan assets* |  |  |  |  | (9) |  |  | (10) |
Net periodic benefit cost |  |  |  |  | $ | 1 |  |  | $ | 1 |
* The net expense portion of non-service cost components are included in Miscellaneous income, net within Other income on the Company’s condensed consolidated statements of income and comprehensive income.

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