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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 154,285 $ 750,535
Restricted cash 482,603 492,317
Accounts receivable and unbilled revenues, net 435,844 457,171
Regulatory assets 44,022 53,895
Other 305,098 380,408
Assets held for sale 118,399 0
Total current assets 1,540,251 2,134,326
Noncurrent assets:    
Property, plant and equipment, net of accumulated depreciation of $3,444,195 and $3,378,282 at June 30, 2025 and December 31, 2024, respectively 6,060,000 6,134,318
Operating lease right-of-use assets 62,065 66,553
Regulatory assets 241,960 227,424
Other 420,585 368,795
Total noncurrent assets 6,784,610 6,797,090
Total assets 8,324,861 8,931,416
Current liabilities:    
Accounts payable 232,944 203,452
Interest and dividends payable 23,921 27,203
Short-term borrowings, net 49,312 48,623
Current portion of long-term debt, net 143,438 109,171
Regulatory liabilities 27,396 26,568
Wildfire tort-related claims (Note 2) 478,750 478,750
Other 368,930 430,824
Liabilities held for sale 114,399 0
Total current liabilities 1,439,090 1,324,591
Noncurrent liabilities:    
Long-term debt, net 1,863,936 2,690,387
Operating lease liabilities 49,768 56,523
Finance lease liabilities 462,439 426,598
Regulatory liabilities 1,266,250 1,217,515
Defined benefit pension liability 23,081 23,213
Wildfire tort-related claims (Note 2) 1,436,250 1,436,250
Other 215,322 242,957
Total noncurrent liabilities 5,317,046 6,093,443
Total liabilities 6,756,136 7,418,034
Preferred stock of subsidiaries - not subject to mandatory redemption 34,293 34,293
Commitments and contingencies (Notes 2 and 4)
Shareholders’ equity    
Preferred stock, no par value, authorized 10,000,000 shares; issued: none 0 0
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 172,611,853 shares and 172,465,608 shares at June 30, 2025 and December 31, 2024, respectively 2,267,897 2,264,544
Retained earnings (deficit) (736,160) (788,916)
Accumulated other comprehensive income, net of taxes 2,695 3,461
Total shareholders’ equity 1,534,432 1,479,089
Total liabilities and shareholders’ equity $ 8,324,861 $ 8,931,416