Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 02, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-14881 | |
Entity Registrant Name | BERKSHIRE HATHAWAY ENERGY COMPANY | |
Entity Tax Identification Number | 94-2213782 | |
Entity Incorporation, State or Country Code | IA | |
Entity Address, Address Line One | 666 Grand Avenue | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309-2580 | |
City Area Code | 515 | |
Local Phone Number | 242-4300 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 75,627,913 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0001081316 | |
Current Fiscal Year End Date | --12-31 | |
PAC | ||
Document Information [Line Items] | ||
Entity File Number | 001-05152 | |
Entity Registrant Name | PACIFICORP | |
Entity Tax Identification Number | 93-0246090 | |
Entity Incorporation, State or Country Code | OR | |
Entity Address, Address Line One | 825 N.E. Multnomah Street | |
Entity Address, Address Line Two | Suite 1900 | |
Entity Address, City or Town | Portland | |
Entity Address, State or Province | OR | |
Entity Address, Postal Zip Code | 97232 | |
City Area Code | 888 | |
Local Phone Number | 221-7070 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 357,060,915 | |
Entity Central Index Key | 0000075594 | |
MidAmerican Funding, LLC | ||
Document Information [Line Items] | ||
Entity File Number | 333-90553 | |
Entity Registrant Name | MIDAMERICAN FUNDING, LLC | |
Entity Tax Identification Number | 47-0819200 | |
Entity Incorporation, State or Country Code | IA | |
Entity Address, Address Line One | 666 Grand Avenue | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309-2580 | |
City Area Code | 515 | |
Local Phone Number | 242-4300 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Central Index Key | 0001098296 | |
MEC | ||
Document Information [Line Items] | ||
Entity File Number | 333-15387 | |
Entity Registrant Name | MIDAMERICAN ENERGY COMPANY | |
Entity Tax Identification Number | 42-1425214 | |
Entity Incorporation, State or Country Code | IA | |
Entity Address, Address Line One | 666 Grand Avenue | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309-2580 | |
City Area Code | 515 | |
Local Phone Number | 242-4300 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 70,980,203 | |
Entity Central Index Key | 0000928576 | |
NPC | ||
Document Information [Line Items] | ||
Entity File Number | 000-52378 | |
Entity Registrant Name | NEVADA POWER COMPANY | |
Entity Tax Identification Number | 88-0420104 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 6226 West Sahara Avenue | |
Entity Address, City or Town | Las Vegas | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89146 | |
City Area Code | 702 | |
Local Phone Number | 402-5000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,000 | |
Entity Central Index Key | 0000071180 | |
SPPC | ||
Document Information [Line Items] | ||
Entity File Number | 000-00508 | |
Entity Registrant Name | SIERRA PACIFIC POWER COMPANY | |
Entity Tax Identification Number | 88-0044418 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 6100 Neil Road | |
Entity Address, City or Town | Reno | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89511 | |
City Area Code | 775 | |
Local Phone Number | 834-4011 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,000 | |
Entity Central Index Key | 0000090144 | |
EEGH | ||
Document Information [Line Items] | ||
Entity File Number | 001-37591 | |
Entity Registrant Name | EASTERN ENERGY GAS HOLDINGS, LLC | |
Entity Tax Identification Number | 46-3639580 | |
Entity Incorporation, State or Country Code | VA | |
Entity Address, Address Line One | 10700 Energy Way | |
Entity Address, City or Town | Glen Allen | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23060 | |
City Area Code | 804 | |
Local Phone Number | 613-5100 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Central Index Key | 0001603291 | |
EGTS | ||
Document Information [Line Items] | ||
Entity File Number | 333-266049 | |
Entity Registrant Name | EASTERN GAS TRANSMISSION AND STORAGE, INC. | |
Entity Tax Identification Number | 55-0629203 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 10700 Energy Way | |
Entity Address, City or Town | Glen Allen | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23060 | |
City Area Code | 804 | |
Local Phone Number | 613-5100 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 60,101 | |
Entity Central Index Key | 0001936737 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 2,047 | $ 1,591 |
Investments and restricted cash and cash equivalents | 955 | 2,141 |
Trade receivables, net | 2,691 | 2,876 |
Inventories | 1,427 | 1,256 |
Mortgage loans held for sale | 616 | 474 |
Regulatory assets | 1,492 | 1,319 |
Other current assets | 887 | 1,345 |
Total current assets | 10,115 | 11,002 |
Property, plant and equipment, net | 96,627 | 93,043 |
Goodwill | 11,482 | 11,489 |
Regulatory assets | 4,202 | 3,743 |
Investments and restricted cash and cash equivalents and investments | 10,104 | 11,273 |
Other assets | 3,552 | 3,290 |
Total assets | 136,082 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,683 | 2,679 |
Accrued interest | 722 | 558 |
Accrued property, income and other taxes | 712 | 746 |
Accrued employee expenses | 451 | 333 |
Short-term debt | 1,617 | 1,119 |
Current portion of long-term debt | 2,313 | 3,201 |
Other current liabilities | 1,500 | 1,677 |
Total current liabilities | 9,998 | 10,313 |
BHE senior debt | 13,100 | 13,096 |
BHE junior subordinated debentures | 100 | 100 |
Subsidiary debt | 37,207 | 35,238 |
Regulatory liabilities | 6,478 | 7,070 |
Deferred income taxes | 12,506 | 12,678 |
Other long-term liabilities | 6,738 | 4,706 |
Total liabilities | 86,127 | 83,201 |
Commitments and contingencies | ||
BHE shareholders' equity: | ||
Preferred stock | 850 | 850 |
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 6,298 |
Retained earnings | 44,365 | 41,833 |
Accumulated other comprehensive loss, net | (2,145) | (2,149) |
Total shareholder's equity | 48,643 | 46,832 |
Noncontrolling interests | 1,312 | 3,807 |
Total equity | 49,955 | 50,639 |
Total liabilities and equity | $ 136,082 | $ 133,840 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, shares authorized | 100 | 100 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares issued | 1 | 1 |
Preferred stock, shares outstanding | 1 | 1 |
Common stock, shares authorized (in shares) | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 76 | 76 |
Common stock, shares outstanding (in shares) | 76 | 76 |
Consolidated Balance Sheets (_3
Consolidated Balance Sheets (Unaudited) - PAC - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 2,047 | $ 1,591 |
Inventories | 1,427 | 1,256 |
Regulatory assets | 1,492 | 1,319 |
Other current assets | 887 | 1,345 |
Total current assets | 10,115 | 11,002 |
Regulatory assets | 4,202 | 3,743 |
Other assets | 3,552 | 3,290 |
Total assets | 136,082 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,683 | 2,679 |
Accrued interest | 722 | 558 |
Accrued property, income and other taxes | 712 | 746 |
Accrued employee expenses | 451 | 333 |
Short-term debt | 1,617 | 1,119 |
Current portion of long-term debt | 2,313 | 3,201 |
Other current liabilities | 1,500 | 1,677 |
Total current liabilities | 9,998 | 10,313 |
Regulatory liabilities | 6,478 | 7,070 |
Deferred income taxes | 12,506 | 12,678 |
Other long-term liabilities | 6,738 | 4,706 |
Total liabilities | 86,127 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 850 | 850 |
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 6,298 |
Retained earnings | 44,365 | 41,833 |
Accumulated other comprehensive loss, net | (2,145) | (2,149) |
Total shareholder's equity | 48,643 | 46,832 |
Total liabilities and equity | 136,082 | 133,840 |
PAC | ||
Current assets: | ||
Cash and cash equivalents | 98 | 641 |
Trade receivables, net | 886 | 825 |
Other receivables, net | 89 | 72 |
Inventories | 519 | 474 |
Derivative contracts | 47 | 184 |
Regulatory assets | 459 | 275 |
Prepaid expenses | 146 | 102 |
Other current assets | 70 | 111 |
Total current assets | 2,314 | 2,684 |
Property, plant and equipment, net | 26,099 | 24,430 |
Regulatory assets | 1,931 | 1,605 |
Other assets | 1,023 | 686 |
Total assets | 31,367 | 29,405 |
Current liabilities: | ||
Accounts payable | 1,204 | 1,049 |
Accrued interest | 171 | 128 |
Accrued property, income and other taxes | 162 | 67 |
Accrued employee expenses | 132 | 86 |
Short-term debt | 165 | 0 |
Current portion of long-term debt | 473 | 449 |
Regulatory liabilities | 91 | 96 |
Other current liabilities | 359 | 271 |
Total current liabilities | 2,757 | 2,146 |
Long-term debt | 9,984 | 9,217 |
Regulatory liabilities | 2,607 | 2,843 |
Deferred income taxes | 2,933 | 3,152 |
Wildfires liabilities | 2,278 | 400 |
Other long-term liabilities | 1,033 | 906 |
Total liabilities | 21,592 | 18,664 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 2 | 2 |
Common stock | 0 | 0 |
Additional paid-in capital | 4,479 | 4,479 |
Retained earnings | 5,303 | 6,269 |
Accumulated other comprehensive loss, net | (9) | (9) |
Total shareholder's equity | 9,775 | 10,741 |
Total liabilities and equity | $ 31,367 | $ 29,405 |
Consolidated Balance Sheets (_4
Consolidated Balance Sheets (Unaudited) - PAC (Parenthetical) - $ / shares shares in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Common stock, shares authorized (in shares) | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 76 | 76 |
Common stock, shares outstanding (in shares) | 76 | 76 |
PAC | ||
Common stock, shares authorized (in shares) | 750 | 750 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 357 | 357 |
Common stock, shares outstanding (in shares) | 357 | 357 |
Balance Sheets (Unaudited) - ME
Balance Sheets (Unaudited) - MEC - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 2,047 | $ 1,591 |
Inventories | 1,427 | 1,256 |
Other current assets | 887 | 1,345 |
Total current assets | 10,115 | 11,002 |
Regulatory assets | 4,202 | 3,743 |
Investments and restricted cash and cash equivalents and investments | 10,104 | 11,273 |
Other assets | 3,552 | 3,290 |
Total assets | 136,082 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,683 | 2,679 |
Accrued interest | 722 | 558 |
Accrued property, income and other taxes | 712 | 746 |
Current portion of long-term debt | 2,313 | 3,201 |
Other current liabilities | 1,500 | 1,677 |
Total current liabilities | 9,998 | 10,313 |
Regulatory liabilities | 6,478 | 7,070 |
Deferred income taxes | 12,506 | 12,678 |
Other long-term liabilities | 6,738 | 4,706 |
Total liabilities | 86,127 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 6,298 |
Retained earnings | 44,365 | 41,833 |
Total shareholder's equity | 48,643 | 46,832 |
Total liabilities and equity | 136,082 | 133,840 |
MEC | ||
Current assets: | ||
Cash and cash equivalents | 700 | 258 |
Trade receivables, net | 345 | 536 |
Income tax receivable | 0 | 42 |
Inventories | 333 | 277 |
Prepaid expenses | 121 | 91 |
Other current assets | 33 | 66 |
Total current assets | 1,532 | 1,270 |
Property, plant and equipment, net | 21,521 | 21,091 |
Regulatory assets | 630 | 550 |
Investments and restricted cash and cash equivalents and investments | 959 | 902 |
Other assets | 170 | 165 |
Total assets | 24,812 | 23,978 |
Current liabilities: | ||
Accounts payable | 449 | 536 |
Accrued interest | 93 | 85 |
Accrued property, income and other taxes | 221 | 170 |
Current portion of long-term debt | 4 | 317 |
Other current liabilities | 130 | 93 |
Total current liabilities | 897 | 1,201 |
Long-term debt | 8,761 | 7,412 |
Regulatory liabilities | 860 | 1,119 |
Deferred income taxes | 3,505 | 3,433 |
Asset retirement obligations | 793 | 683 |
Other long-term liabilities | 548 | 485 |
Total liabilities | 15,364 | 14,333 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 561 | 561 |
Retained earnings | 8,887 | 9,084 |
Total shareholder's equity | 9,448 | 9,645 |
Total liabilities and equity | 24,812 | 23,978 |
MidAmerican Funding, LLC | ||
Current assets: | ||
Cash and cash equivalents | 700 | 261 |
Trade receivables, net | 345 | 536 |
Income tax receivable | 0 | 43 |
Inventories | 333 | 277 |
Prepaid expenses | 121 | 91 |
Other current assets | 43 | 66 |
Total current assets | 1,542 | 1,274 |
Regulatory assets | 630 | 550 |
Investments and restricted cash and cash equivalents and investments | 961 | 904 |
Other assets | 169 | 164 |
Total assets | 26,094 | 25,254 |
Current liabilities: | ||
Accounts payable | 449 | 536 |
Accrued interest | 94 | 90 |
Accrued property, income and other taxes | 221 | 170 |
Note payable to affiliate | 1 | 0 |
Current portion of long-term debt | 4 | 317 |
Other current liabilities | 130 | 93 |
Total current liabilities | 899 | 1,206 |
Long-term debt | 9,001 | 7,652 |
Regulatory liabilities | 860 | 1,119 |
Deferred income taxes | 3,503 | 3,431 |
Asset retirement obligations | 793 | 683 |
Other long-term liabilities | 548 | 484 |
Total liabilities | 15,604 | 14,575 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 1,679 | 1,679 |
Retained earnings | 8,811 | 9,000 |
Total shareholder's equity | 10,490 | 10,679 |
Total liabilities and equity | $ 26,094 | $ 25,254 |
Balance Sheets (Unaudited) - _2
Balance Sheets (Unaudited) - MEC (Parenthetical) - $ / shares shares in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Common stock, shares authorized (in shares) | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 76 | 76 |
Common stock, shares outstanding (in shares) | 76 | 76 |
MEC | ||
Common stock, shares authorized (in shares) | 350 | 350 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 71 | 71 |
Common stock, shares outstanding (in shares) | 71 | 71 |
Consolidated Balance Sheets (_5
Consolidated Balance Sheets (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 2,047 | $ 1,591 |
Inventories | 1,427 | 1,256 |
Other current assets | 887 | 1,345 |
Total current assets | 10,115 | 11,002 |
Property, plant and equipment, net | 96,627 | 93,043 |
Goodwill | 11,482 | 11,489 |
Regulatory assets | 4,202 | 3,743 |
Investments and restricted cash and cash equivalents and investments | 10,104 | 11,273 |
Other assets | 3,552 | 3,290 |
Total assets | 136,082 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,683 | 2,679 |
Accrued interest | 722 | 558 |
Accrued property, income and other taxes | 712 | 746 |
Current portion of long-term debt | 2,313 | 3,201 |
Other current liabilities | 1,500 | 1,677 |
Total current liabilities | 9,998 | 10,313 |
Regulatory liabilities | 6,478 | 7,070 |
Deferred income taxes | 12,506 | 12,678 |
Other long-term liabilities | 6,738 | 4,706 |
Total liabilities | 86,127 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 5,573 | 6,298 |
Retained earnings | 44,365 | 41,833 |
Total shareholder's equity | 48,643 | 46,832 |
Total liabilities and equity | 136,082 | 133,840 |
MidAmerican Funding, LLC | ||
Current assets: | ||
Cash and cash equivalents | 700 | 261 |
Trade receivables, net | 345 | 536 |
Income tax receivable | 0 | 43 |
Inventories | 333 | 277 |
Prepaid expenses | 121 | 91 |
Other current assets | 43 | 66 |
Total current assets | 1,542 | 1,274 |
Property, plant and equipment, net | 21,522 | 21,092 |
Goodwill | 1,270 | 1,270 |
Regulatory assets | 630 | 550 |
Investments and restricted cash and cash equivalents and investments | 961 | 904 |
Other assets | 169 | 164 |
Total assets | 26,094 | 25,254 |
Current liabilities: | ||
Accounts payable | 449 | 536 |
Accrued interest | 94 | 90 |
Accrued property, income and other taxes | 221 | 170 |
Note payable to affiliate | 1 | 0 |
Current portion of long-term debt | 4 | 317 |
Other current liabilities | 130 | 93 |
Total current liabilities | 899 | 1,206 |
Long-term debt | 9,001 | 7,652 |
Regulatory liabilities | 860 | 1,119 |
Deferred income taxes | 3,503 | 3,431 |
Asset retirement obligations | 793 | 683 |
Other long-term liabilities | 548 | 484 |
Total liabilities | 15,604 | 14,575 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 1,679 | 1,679 |
Retained earnings | 8,811 | 9,000 |
Total shareholder's equity | 10,490 | 10,679 |
Total liabilities and equity | $ 26,094 | $ 25,254 |
Consolidated Balance Sheets (_6
Consolidated Balance Sheets (Unaudited) - NPC - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 2,047 | $ 1,591 |
Inventories | 1,427 | 1,256 |
Regulatory assets | 1,492 | 1,319 |
Other current assets | 887 | 1,345 |
Total current assets | 10,115 | 11,002 |
Regulatory assets | 4,202 | 3,743 |
Other assets | 3,552 | 3,290 |
Total assets | 136,082 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,683 | 2,679 |
Accrued interest | 722 | 558 |
Accrued property, income and other taxes | 712 | 746 |
Other current liabilities | 1,500 | 1,677 |
Total current liabilities | 9,998 | 10,313 |
Regulatory liabilities | 6,478 | 7,070 |
Deferred income taxes | 12,506 | 12,678 |
Other long-term liabilities | 6,738 | 4,706 |
Total liabilities | 86,127 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 6,298 |
Retained earnings | 44,365 | 41,833 |
Accumulated other comprehensive loss, net | (2,145) | (2,149) |
Total shareholder's equity | 48,643 | 46,832 |
Total liabilities and equity | 136,082 | 133,840 |
NPC | ||
Current assets: | ||
Cash and cash equivalents | 44 | 43 |
Trade receivables, net | 558 | 388 |
Notes receivable from affiliates | 0 | 100 |
Inventories | 127 | 93 |
Regulatory assets | 780 | 666 |
Other current assets | 68 | 89 |
Total current assets | 1,577 | 1,379 |
Property, plant and equipment, net | 8,269 | 7,406 |
Regulatory assets | 567 | 628 |
Other assets | 382 | 388 |
Total assets | 10,795 | 9,801 |
Current liabilities: | ||
Accounts payable | 428 | 422 |
Accrued interest | 51 | 40 |
Accrued property, income and other taxes | 100 | 32 |
Regulatory liabilities | 50 | 45 |
Customer deposits | 57 | 51 |
Derivative contracts | 49 | 51 |
Other current liabilities | 88 | 49 |
Total current liabilities | 823 | 690 |
Long-term debt | 3,391 | 3,195 |
Finance lease obligations | 280 | 295 |
Regulatory liabilities | 1,017 | 1,093 |
Deferred income taxes | 904 | 875 |
Other long-term liabilities | 345 | 299 |
Total liabilities | 6,760 | 6,447 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 2,733 | 2,333 |
Retained earnings | 1,303 | 1,022 |
Accumulated other comprehensive loss, net | (1) | (1) |
Total shareholder's equity | 4,035 | 3,354 |
Total liabilities and equity | $ 10,795 | $ 9,801 |
Consolidated Balance Sheets (_7
Consolidated Balance Sheets (Unaudited) - NPC (Parenthetical) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
Common stock, shares authorized (in shares) | 115,000,000 | 115,000,000 |
Common stock, shares issued (in shares) | 76,000,000 | 76,000,000 |
Common stock, shares outstanding (in shares) | 76,000,000 | 76,000,000 |
NPC | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, shares issued (in shares) | 1,000 | 1,000 |
Common stock, shares outstanding (in shares) | 1,000 | 1,000 |
Consolidated Balance Sheets (_8
Consolidated Balance Sheets (Unaudited) - SPPC - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 2,047 | $ 1,591 |
Inventories | 1,427 | 1,256 |
Regulatory assets | 1,492 | 1,319 |
Other current assets | 887 | 1,345 |
Total current assets | 10,115 | 11,002 |
Regulatory assets | 4,202 | 3,743 |
Other assets | 3,552 | 3,290 |
Total assets | 136,082 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,683 | 2,679 |
Accrued property, income and other taxes | 712 | 746 |
Accrued employee expenses | 451 | 333 |
Current portion of long-term debt | 2,313 | 3,201 |
Other current liabilities | 1,500 | 1,677 |
Total current liabilities | 9,998 | 10,313 |
Regulatory liabilities | 6,478 | 7,070 |
Deferred income taxes | 12,506 | 12,678 |
Other long-term liabilities | 6,738 | 4,706 |
Total liabilities | 86,127 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 6,298 |
Retained earnings | 44,365 | 41,833 |
Accumulated other comprehensive loss, net | (2,145) | (2,149) |
Total shareholder's equity | 48,643 | 46,832 |
Total liabilities and equity | 136,082 | 133,840 |
SPPC | ||
Current assets: | ||
Cash and cash equivalents | 39 | 49 |
Trade receivables, net | 170 | 175 |
Inventories | 109 | 79 |
Regulatory assets | 237 | 357 |
Other current assets | 51 | 50 |
Total current assets | 606 | 710 |
Property, plant and equipment, net | 3,745 | 3,587 |
Regulatory assets | 231 | 254 |
Other assets | 183 | 181 |
Total assets | 4,765 | 4,732 |
Current liabilities: | ||
Accounts payable | 226 | 224 |
Note payable to affiliate | 0 | 70 |
Accrued property, income and other taxes | 19 | 15 |
Accrued employee expenses | 19 | 11 |
Current portion of long-term debt | 0 | 250 |
Customer deposits | 20 | 18 |
Other current liabilities | 53 | 64 |
Total current liabilities | 337 | 652 |
Long-term debt, carrying value | 1,292 | 898 |
Finance lease obligations | 95 | 100 |
Regulatory liabilities | 424 | 436 |
Deferred income taxes | 419 | 445 |
Other long-term liabilities | 139 | 153 |
Total liabilities | 2,706 | 2,684 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 1,576 | 1,576 |
Retained earnings | 484 | 473 |
Accumulated other comprehensive loss, net | (1) | (1) |
Total shareholder's equity | 2,059 | 2,048 |
Total liabilities and equity | $ 4,765 | $ 4,732 |
Consolidated Balance Sheets (_9
Consolidated Balance Sheets (Unaudited) - SPPC (Parenthetical) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
Common stock, shares authorized (in shares) | 115,000,000 | 115,000,000 |
Common stock, shares issued (in shares) | 76,000,000 | 76,000,000 |
Common stock, shares outstanding (in shares) | 76,000,000 | 76,000,000 |
SPPC | ||
Common stock, par value (in dollars per share) | $ 3.75 | $ 3.75 |
Common stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, shares issued (in shares) | 1,000 | 1,000 |
Common stock, shares outstanding (in shares) | 1,000 | 1,000 |
Consolidated Balance Sheets _10
Consolidated Balance Sheets (Unaudited) - EEGH - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 2,047 | $ 1,591 |
Trade receivables, net | 2,691 | 2,876 |
Inventories | 1,427 | 1,256 |
Other current assets | 887 | 1,345 |
Total current assets | 10,115 | 11,002 |
Property, plant and equipment, net | 96,627 | 93,043 |
Goodwill | 11,482 | 11,489 |
Investments | 10,104 | 11,273 |
Other assets | 3,552 | 3,290 |
Total assets | 136,082 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,683 | 2,679 |
Accrued interest | 722 | 558 |
Accrued property, income and other taxes | 712 | 746 |
Current portion of long-term debt | 2,313 | 3,201 |
Other current liabilities | 1,500 | 1,677 |
Total current liabilities | 9,998 | 10,313 |
Regulatory liabilities | 6,478 | 7,070 |
Deferred income taxes | 12,506 | 12,678 |
Other long-term liabilities | 6,738 | 4,706 |
Total liabilities | 86,127 | 83,201 |
Commitments and contingencies | ||
Member's equity: | ||
Accumulated other comprehensive loss, net | (2,145) | (2,149) |
Total liabilities and equity | 136,082 | 133,840 |
EEGH | ||
Current assets: | ||
Cash and cash equivalents | 94 | 65 |
Trade receivables, net | 161 | 202 |
Receivables from affiliates | 19 | 30 |
Income tax receivable | 245 | 17 |
Notes receivable from affiliates | 0 | 536 |
Inventories | 135 | 127 |
Prepayments and other deferred charges | 31 | 78 |
Natural gas imbalances | 17 | 193 |
Other current assets | 39 | 55 |
Total current assets | 741 | 1,303 |
Property, plant and equipment, net | 10,344 | 10,202 |
Goodwill | 1,286 | 1,286 |
Investments | 264 | 278 |
Other assets | 101 | 95 |
Total assets | 12,736 | 13,164 |
Current liabilities: | ||
Accrued interest | 47 | 19 |
Accrued property, income and other taxes | 79 | 77 |
Regulatory liabilities | 36 | 126 |
Current portion of long-term debt | 400 | 649 |
Other current liabilities | 105 | 146 |
Total current liabilities | 753 | 1,113 |
Long-term debt | 3,242 | 3,243 |
Regulatory liabilities | 612 | 596 |
Deferred income taxes | 295 | 166 |
Other long-term liabilities | 155 | 158 |
Total liabilities | 5,057 | 5,276 |
Commitments and contingencies | ||
Member's equity: | ||
Membership interests | 6,417 | 3,983 |
Accumulated other comprehensive loss, net | (39) | (42) |
Total member's equity | 6,378 | 3,941 |
Noncontrolling interests | 1,301 | 3,947 |
Total equity | 7,679 | 7,888 |
Total liabilities and equity | $ 12,736 | $ 13,164 |
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] | Affiliated Entity [Member] | Affiliated Entity [Member] |
EEGH | Nonrelated party | ||
Current liabilities: | ||
Accounts payable | $ 67 | $ 86 |
EEGH | Related party | ||
Current liabilities: | ||
Accounts payable | $ 19 | $ 10 |
Consolidated Balance Sheets _11
Consolidated Balance Sheets (Unaudited) - EGTS - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 2,047 | $ 1,591 |
Investments and restricted cash and cash equivalents | 955 | 2,141 |
Trade receivables, net | 2,691 | 2,876 |
Inventories | 1,427 | 1,256 |
Other current assets | 887 | 1,345 |
Total current assets | 10,115 | 11,002 |
Property, plant and equipment, net | 96,627 | 93,043 |
Other assets | 3,552 | 3,290 |
Total assets | 136,082 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,683 | 2,679 |
Accrued interest | 722 | 558 |
Accrued property, income and other taxes | 712 | 746 |
Accrued employee expenses | 451 | 333 |
Other current liabilities | 1,500 | 1,677 |
Total current liabilities | 9,998 | 10,313 |
Regulatory liabilities | 6,478 | 7,070 |
Other long-term liabilities | 6,738 | 4,706 |
Total liabilities | 86,127 | 83,201 |
Commitments and contingencies | ||
Shareholder's equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 6,298 |
Retained earnings | 44,365 | 41,833 |
Accumulated other comprehensive loss, net | (2,145) | (2,149) |
Total shareholder's equity | 48,643 | 46,832 |
Total liabilities and equity | 136,082 | 133,840 |
EGTS | ||
Current assets: | ||
Cash and cash equivalents | 12 | 16 |
Investments and restricted cash and cash equivalents | 29 | 29 |
Trade receivables, net | 86 | 113 |
Receivables from affiliates | 8 | 13 |
Inventories | 54 | 50 |
Income tax receivable | 28 | 21 |
Prepayments and other deferred charges | 25 | 36 |
Natural gas imbalances | 13 | 193 |
Other current assets | 6 | 9 |
Total current assets | 261 | 480 |
Property, plant and equipment, net | 4,699 | 4,504 |
Other assets | 140 | 190 |
Total assets | 5,100 | 5,174 |
Current liabilities: | ||
Accrued interest | 23 | 7 |
Accrued property, income and other taxes | 51 | 71 |
Accrued employee expenses | 21 | 13 |
Note payable to affiliate | 15 | 36 |
Regulatory liabilities | 28 | 109 |
Customer and security deposits | 29 | 29 |
Asset retirement obligations | 9 | 25 |
Other current liabilities | 23 | 32 |
Total current liabilities | 257 | 373 |
Long-term debt | 1,583 | 1,582 |
Regulatory liabilities | 516 | 518 |
Other long-term liabilities | 101 | 101 |
Total liabilities | 2,457 | 2,574 |
Commitments and contingencies | ||
Shareholder's equity: | ||
Common stock | 609 | 609 |
Additional paid-in capital | 1,300 | 1,275 |
Retained earnings | 763 | 746 |
Accumulated other comprehensive loss, net | (29) | (30) |
Total shareholder's equity | 2,643 | 2,600 |
Total liabilities and equity | $ 5,100 | $ 5,174 |
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] | Affiliated Entity [Member] | Affiliated Entity [Member] |
EGTS | Nonrelated party | ||
Current liabilities: | ||
Accounts payable | $ 41 | $ 46 |
EGTS | Related party | ||
Current liabilities: | ||
Accounts payable | $ 17 | $ 5 |
Consolidated Balance Sheets _12
Consolidated Balance Sheets (Unaudited) - EGTS (Parenthetical) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
Common stock, shares authorized (in shares) | 115,000,000 | 115,000,000 |
Common stock, shares outstanding (in shares) | 76,000,000 | 76,000,000 |
Common stock, shares issued (in shares) | 76,000,000 | 76,000,000 |
EGTS | ||
Common stock, shares authorized (in shares) | 75,000 | 75,000 |
Common stock, par value (in dollars per share) | $ 10,000 | $ 10,000 |
Common stock, shares outstanding (in shares) | 60,101 | 60,101 |
Common stock, shares issued (in shares) | 60,101 | 60,101 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating revenue: | ||||
Total operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Energy: | ||||
Cost of sales | 2,009 | 1,959 | 5,530 | 4,944 |
Operations and maintenance | 1,184 | 1,064 | 3,518 | 3,024 |
Wildfire losses, net of recoveries | 1,263 | 0 | 1,671 | 64 |
Depreciation and amortization | 1,015 | 1,102 | 3,035 | 3,154 |
Property and other taxes | 204 | 200 | 613 | 604 |
Real estate | 1,181 | 1,352 | 3,351 | 4,086 |
Total operating expenses | 6,856 | 5,677 | 17,718 | 15,876 |
Operating income | 314 | 1,823 | 2,027 | 4,266 |
Other income (expense): | ||||
Interest expense | (603) | (555) | (1,788) | (1,637) |
Capitalized interest | 36 | 19 | 93 | 54 |
Allowance for equity funds | 76 | 43 | 186 | 123 |
Interest and dividend income | 110 | 40 | 323 | 93 |
(Losses) gains on marketable securities, net | (76) | (3,270) | 926 | (1,999) |
Other, net | (3) | 5 | 115 | (16) |
Total other income (expense) | (460) | (3,718) | (145) | (3,382) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 |
Income tax expense (benefit) | (777) | (1,213) | (1,194) | (1,571) |
Equity income (loss) | (60) | (13) | (197) | (153) |
Net income (loss) | 571 | (695) | 2,879 | 2,302 |
Net income attributable to noncontrolling interests | 77 | 147 | 321 | 376 |
Net income (loss) attributable to parent | 494 | (842) | 2,558 | 1,926 |
Preferred dividends | 8 | 8 | 25 | 37 |
Earnings (loss) on common shares | 486 | (850) | 2,533 | 1,889 |
Energy | ||||
Operating revenue: | ||||
Total operating revenue | 5,958 | 6,095 | 16,362 | 15,858 |
Real estate | ||||
Operating revenue: | ||||
Total operating revenue | $ 1,212 | $ 1,405 | $ 3,383 | $ 4,284 |
Consolidated Statements of Op_2
Consolidated Statements of Operations (Unaudited) - PAC - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Operating expenses: | ||||
Cost of sales | 2,009 | 1,959 | 5,530 | 4,944 |
Wildfire losses, net of recoveries | 1,263 | 0 | 1,671 | 64 |
Operating income | 314 | 1,823 | 2,027 | 4,266 |
Other income (expense): | ||||
Interest expense | (603) | (555) | (1,788) | (1,637) |
Allowance for borrowed funds | 36 | 19 | 93 | 54 |
Allowance for equity funds | 76 | 43 | 186 | 123 |
Interest and dividend income | 110 | 40 | 323 | 93 |
Other, net | (3) | 5 | 115 | (16) |
Total other income (expense) | (460) | (3,718) | (145) | (3,382) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 |
Income tax expense (benefit) | (777) | (1,213) | (1,194) | (1,571) |
Net income (loss) attributable to parent | 494 | (842) | 2,558 | 1,926 |
PAC | ||||
Operating revenue | 1,676 | 1,635 | 4,487 | 4,246 |
Operating expenses: | ||||
Cost of sales | 664 | 581 | 1,740 | 1,497 |
Operations and maintenance | 356 | 289 | 1,056 | 877 |
Wildfire losses, net of recoveries | 1,263 | 0 | 1,671 | 64 |
Depreciation and amortization | 285 | 277 | 843 | 836 |
Property and other taxes | 51 | 51 | 156 | 161 |
Total operating expenses | 2,619 | 1,198 | 5,466 | 3,435 |
Operating income | (943) | 437 | (979) | 811 |
Other income (expense): | ||||
Interest expense | (140) | (105) | (398) | (318) |
Allowance for borrowed funds | 19 | 9 | 48 | 21 |
Allowance for equity funds | 40 | 19 | 101 | 47 |
Interest and dividend income | 28 | 15 | 73 | 29 |
Other, net | (1) | (3) | 4 | (12) |
Total other income (expense) | (54) | (65) | (172) | (233) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (997) | 372 | (1,151) | 578 |
Income tax expense (benefit) | (345) | (37) | (485) | (43) |
Net income (loss) attributable to parent | $ (652) | $ 409 | $ (666) | $ 621 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - MEC - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating revenue: | ||||
Total operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Operating expenses: | ||||
Cost of sales | 2,009 | 1,959 | 5,530 | 4,944 |
Total operating expenses | 6,856 | 5,677 | 17,718 | 15,876 |
Operating income | 314 | 1,823 | 2,027 | 4,266 |
Other income (expense): | ||||
Interest expense | (603) | (555) | (1,788) | (1,637) |
Allowance for equity funds | 76 | 43 | 186 | 123 |
Other, net | (3) | 5 | 115 | (16) |
Total other income (expense) | (460) | (3,718) | (145) | (3,382) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 |
Income tax expense (benefit) | (777) | (1,213) | (1,194) | (1,571) |
Net income (loss) attributable to parent | 494 | (842) | 2,558 | 1,926 |
MEC | ||||
Operating revenue: | ||||
Total operating revenue | 964 | 1,148 | 2,643 | 3,050 |
Operating expenses: | ||||
Operations and maintenance | 214 | 210 | 635 | 602 |
Depreciation and amortization | 210 | 338 | 670 | 865 |
Property and other taxes | 39 | 38 | 121 | 114 |
Total operating expenses | 675 | 918 | 2,148 | 2,630 |
Operating income | 289 | 230 | 495 | 420 |
Other income (expense): | ||||
Interest expense | (85) | (79) | (246) | (235) |
Allowance for borrowed funds | 6 | 3 | 14 | 12 |
Allowance for equity funds | 16 | 12 | 40 | 41 |
Other, net | 6 | 4 | 37 | (11) |
Total other income (expense) | (57) | (60) | (155) | (193) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 232 | 170 | 340 | 227 |
Income tax expense (benefit) | (92) | (135) | (462) | (529) |
Net income (loss) attributable to parent | 324 | 305 | 802 | 756 |
Regulated electric | MEC | ||||
Operating revenue: | ||||
Total operating revenue | 869 | 1,009 | 2,121 | 2,342 |
Operating expenses: | ||||
Cost of sales | 165 | 235 | 393 | 534 |
Regulated natural gas and other | MEC | ||||
Operating revenue: | ||||
Total operating revenue | 95 | 139 | 522 | 708 |
Operating expenses: | ||||
Cost of sales | $ 47 | $ 97 | $ 329 | $ 515 |
Consolidated Statements of Op_3
Consolidated Statements of Operations (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating revenue: | ||||
Total operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Operating expenses: | ||||
Cost of sales | 2,009 | 1,959 | 5,530 | 4,944 |
Total operating expenses | 6,856 | 5,677 | 17,718 | 15,876 |
Operating income | 314 | 1,823 | 2,027 | 4,266 |
Other income (expense): | ||||
Interest expense | (603) | (555) | (1,788) | (1,637) |
Allowance for equity funds | 76 | 43 | 186 | 123 |
Other, net | (3) | 5 | 115 | (16) |
Total other income (expense) | (460) | (3,718) | (145) | (3,382) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 |
Income tax expense (benefit) | (777) | (1,213) | (1,194) | (1,571) |
Net income (loss) attributable to parent | 494 | (842) | 2,558 | 1,926 |
MidAmerican Funding, LLC | ||||
Operating revenue: | ||||
Total operating revenue | 964 | 1,148 | 2,643 | 3,050 |
Operating expenses: | ||||
Operations and maintenance | 214 | 210 | 635 | 602 |
Depreciation and amortization | 210 | 338 | 670 | 865 |
Property and other taxes | 39 | 38 | 121 | 114 |
Total operating expenses | 675 | 918 | 2,148 | 2,630 |
Operating income | 289 | 230 | 495 | 420 |
Other income (expense): | ||||
Interest expense | (89) | (84) | (258) | (249) |
Allowance for borrowed funds | 6 | 3 | 14 | 12 |
Allowance for equity funds | 16 | 12 | 40 | 41 |
Other, net | 6 | 2 | 49 | (12) |
Total other income (expense) | (61) | (67) | (155) | (208) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 228 | 163 | 340 | 212 |
Income tax expense (benefit) | (93) | (137) | (463) | (533) |
Net income (loss) attributable to parent | 321 | 300 | 803 | 745 |
Regulated electric | MidAmerican Funding, LLC | ||||
Operating revenue: | ||||
Total operating revenue | 869 | 1,009 | 2,121 | 2,342 |
Operating expenses: | ||||
Cost of sales | 165 | 235 | 393 | 534 |
Regulated natural gas and other | MidAmerican Funding, LLC | ||||
Operating revenue: | ||||
Total operating revenue | 95 | 139 | 522 | 708 |
Operating expenses: | ||||
Cost of sales | $ 47 | $ 97 | $ 329 | $ 515 |
Consolidated Statements of Op_4
Consolidated Statements of Operations (Unaudited) - NPC - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Operating expenses: | ||||
Cost of sales | 2,009 | 1,959 | 5,530 | 4,944 |
Total operating expenses | 6,856 | 5,677 | 17,718 | 15,876 |
Operating income | 314 | 1,823 | 2,027 | 4,266 |
Other income (expense): | ||||
Interest expense | (603) | (555) | (1,788) | (1,637) |
Capitalized interest | 36 | 19 | 93 | 54 |
Allowance for equity funds | 76 | 43 | 186 | 123 |
Interest and dividend income | 110 | 40 | 323 | 93 |
Other, net | (3) | 5 | 115 | (16) |
Total other income (expense) | (460) | (3,718) | (145) | (3,382) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 |
Income tax expense (benefit) | (777) | (1,213) | (1,194) | (1,571) |
Net income (loss) attributable to parent | 494 | (842) | 2,558 | 1,926 |
NPC | ||||
Operating revenue | 1,145 | 1,003 | 2,525 | 2,057 |
Operating expenses: | ||||
Cost of sales | 688 | 538 | 1,565 | 1,086 |
Operations and maintenance | 85 | 90 | 236 | 230 |
Depreciation and amortization | 109 | 106 | 323 | 312 |
Property and other taxes | 14 | 14 | 42 | 39 |
Total operating expenses | 896 | 748 | 2,166 | 1,667 |
Operating income | 249 | 255 | 359 | 390 |
Other income (expense): | ||||
Interest expense | (49) | (41) | (147) | (118) |
Capitalized interest | 7 | 1 | 16 | 4 |
Allowance for equity funds | 6 | 3 | 14 | 8 |
Interest and dividend income | 18 | 13 | 59 | 31 |
Other, net | 1 | 3 | 9 | 3 |
Total other income (expense) | (17) | (21) | (49) | (72) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 232 | 234 | 310 | 318 |
Income tax expense (benefit) | 21 | 25 | 29 | 35 |
Net income (loss) attributable to parent | $ 211 | $ 209 | $ 281 | $ 283 |
Consolidated Statements of Op_5
Consolidated Statements of Operations (Unaudited) - SPPC - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Total operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Cost of sales | 2,009 | 1,959 | 5,530 | 4,944 |
Total operating expenses | 6,856 | 5,677 | 17,718 | 15,876 |
Operating income | 314 | 1,823 | 2,027 | 4,266 |
Interest expense | (603) | (555) | (1,788) | (1,637) |
Allowance for equity funds | 76 | 43 | 186 | 123 |
Interest and dividend income | 110 | 40 | 323 | 93 |
Other, net | (3) | 5 | 115 | (16) |
Total other income (expense) | (460) | (3,718) | (145) | (3,382) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 |
Income tax expense (benefit) | (777) | (1,213) | (1,194) | (1,571) |
Net income (loss) attributable to parent | 494 | (842) | 2,558 | 1,926 |
SPPC | ||||
Total operating revenue | 372 | 330 | 1,109 | 867 |
Operations and maintenance | 47 | 50 | 152 | 138 |
Depreciation and amortization | 46 | 37 | 138 | 110 |
Property and other taxes | 6 | 6 | 19 | 18 |
Total operating expenses | 294 | 256 | 970 | 732 |
Operating income | 78 | 74 | 139 | 135 |
Interest expense | (16) | (15) | (47) | (42) |
Capitalized interest | 0 | 1 | 5 | 2 |
Allowance for equity funds | 5 | 1 | 10 | 5 |
Interest and dividend income | 6 | 5 | 18 | 12 |
Other, net | 1 | 1 | 3 | 3 |
Total other income (expense) | (4) | (7) | (11) | (20) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 74 | 67 | 128 | 115 |
Income tax expense (benefit) | 10 | 8 | 17 | 15 |
Net income (loss) attributable to parent | 64 | 59 | 111 | 100 |
SPPC | Regulated electric | ||||
Total operating revenue | 345 | 310 | 942 | 767 |
Cost of sales | 178 | 153 | 538 | 406 |
SPPC | Regulated natural gas | ||||
Total operating revenue | 27 | 20 | 167 | 100 |
Cost of sales | $ 17 | $ 10 | $ 123 | $ 60 |
Consolidated Statements of Op_6
Consolidated Statements of Operations (Unaudited) - EEGH - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Operating expenses: | ||||
Total operating expenses | 6,856 | 5,677 | 17,718 | 15,876 |
Operating income | 314 | 1,823 | 2,027 | 4,266 |
Other income (expense): | ||||
Interest expense | (603) | (555) | (1,788) | (1,637) |
Allowance for equity funds | 76 | 43 | 186 | 123 |
Interest and dividend income | 110 | 40 | 323 | 93 |
Other, net | (3) | 5 | 115 | (16) |
Total other income (expense) | (460) | (3,718) | (145) | (3,382) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 |
Income tax expense (benefit) | (777) | (1,213) | (1,194) | (1,571) |
Equity income (loss) | (60) | (13) | (197) | (153) |
Net income (loss) | 571 | (695) | 2,879 | 2,302 |
Net income attributable to noncontrolling interests | 77 | 147 | 321 | 376 |
Net income (loss) attributable to parent | 494 | (842) | 2,558 | 1,926 |
EEGH | ||||
Operating revenue | 475 | 547 | 1,549 | 1,533 |
Operating expenses: | ||||
Cost of (excess) gas | 6 | (24) | 31 | (46) |
Operations and maintenance | 157 | 117 | 434 | 359 |
Depreciation and amortization | 80 | 76 | 240 | 241 |
Property and other taxes | 36 | 36 | 99 | 102 |
Total operating expenses | 279 | 205 | 804 | 656 |
Operating income | 196 | 342 | 745 | 877 |
Other income (expense): | ||||
Interest expense | (35) | (36) | (107) | (108) |
Allowance for equity funds | 2 | 2 | 6 | 5 |
Interest and dividend income | 8 | 3 | 28 | 3 |
Other, net | (1) | (2) | 0 | (3) |
Total other income (expense) | (26) | (33) | (73) | (103) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 170 | 309 | 672 | 774 |
Income tax expense (benefit) | 5 | 64 | 75 | 131 |
Equity income (loss) | 5 | 52 | 43 | 80 |
Net income (loss) | 170 | 297 | 640 | 723 |
Net income attributable to noncontrolling interests | 78 | 146 | 327 | 375 |
Net income (loss) attributable to parent | $ 92 | $ 151 | $ 313 | $ 348 |
Consolidated Statements of Op_7
Consolidated Statements of Operations (Unaudited) - EGTS - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Operating expenses: | ||||
Total operating expenses | 6,856 | 5,677 | 17,718 | 15,876 |
Operating income | 314 | 1,823 | 2,027 | 4,266 |
Other income (expense): | ||||
Interest expense | (603) | (555) | (1,788) | (1,637) |
Allowance for equity funds | 76 | 43 | 186 | 123 |
Other, net | (3) | 5 | 115 | (16) |
Total other income (expense) | (460) | (3,718) | (145) | (3,382) |
Income tax expense (benefit) | (777) | (1,213) | (1,194) | (1,571) |
Net income (loss) attributable to parent | 494 | (842) | 2,558 | 1,926 |
EGTS | ||||
Operating revenue | 233 | 240 | 747 | 697 |
Operating expenses: | ||||
Cost of (excess) gas | 6 | (25) | 31 | (49) |
Operations and maintenance | 99 | 80 | 293 | 250 |
Depreciation and amortization | 38 | 34 | 112 | 115 |
Property and other taxes | 14 | 15 | 35 | 39 |
Total operating expenses | 157 | 104 | 471 | 355 |
Operating income | 76 | 136 | 276 | 342 |
Other income (expense): | ||||
Interest expense | (17) | (16) | (52) | (50) |
Allowance for equity funds | 1 | 1 | 4 | 3 |
Other, net | 0 | (1) | 2 | (2) |
Total other income (expense) | (16) | (16) | (46) | (49) |
Income before income tax expense (benefit) | 60 | 120 | 230 | 293 |
Income tax expense (benefit) | 16 | 39 | 59 | 86 |
Net income (loss) attributable to parent | $ 44 | $ 81 | $ 171 | $ 207 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income (loss) | $ 571 | $ (695) | $ 2,879 | $ 2,302 |
Other comprehensive (loss) income, net of tax: | ||||
Unrecognized amounts on retirement benefits, net of tax | 21 | 25 | 10 | 65 |
Foreign currency translation adjustment | (313) | (665) | 18 | (1,256) |
Unrealized gains (losses) on cash flow hedges, net of tax | (7) | 45 | (23) | 148 |
Total other comprehensive (loss) income, net of tax | (299) | (595) | 5 | (1,043) |
Comprehensive income (loss) | 272 | (1,290) | 2,884 | 1,259 |
Comprehensive income attributable to noncontrolling interests | 77 | 147 | 321 | 376 |
Comprehensive income (loss) attributable to BHE shareholders | $ 195 | $ (1,437) | $ 2,563 | $ 883 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrecognized amounts on retirement benefits, tax | $ 10 | $ 9 | $ 3 | $ 21 |
Unrealized gains (losses) on cash flow hedges, tax | $ (3) | $ 22 | $ (10) | $ 58 |
Consolidated Statements of Co_3
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - EEGH - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income (loss) | $ 571 | $ (695) | $ 2,879 | $ 2,302 |
Other comprehensive (loss) income, net of tax: | ||||
Unrecognized amounts on retirement benefits, net of tax | 21 | 25 | 10 | 65 |
Unrealized gains (losses) on cash flow hedges, net of tax | (7) | 45 | (23) | 148 |
Total other comprehensive (loss) income, net of tax | (299) | (595) | 5 | (1,043) |
Comprehensive income (loss) | 272 | (1,290) | 2,884 | 1,259 |
Comprehensive income attributable to noncontrolling interests | 77 | 147 | 321 | 376 |
Comprehensive income (loss) attributable to BHE shareholders | 195 | (1,437) | 2,563 | 883 |
EEGH | ||||
Net income (loss) | 170 | 297 | 640 | 723 |
Other comprehensive (loss) income, net of tax: | ||||
Unrecognized amounts on retirement benefits, net of tax | (1) | 0 | (2) | 1 |
Unrealized gains (losses) on cash flow hedges, net of tax | 1 | 1 | 6 | 4 |
Total other comprehensive (loss) income, net of tax | 0 | 1 | 4 | 5 |
Comprehensive income (loss) | 170 | 298 | 644 | 728 |
Comprehensive income attributable to noncontrolling interests | 78 | 146 | 327 | 375 |
Comprehensive income (loss) attributable to BHE shareholders | $ 92 | $ 152 | $ 317 | $ 353 |
Consolidated Statements of Co_4
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - EEGH (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Unrecognized amounts on retirement benefits, tax | $ 10 | $ 9 | $ 3 | $ 21 |
Unrealized gains (losses) on cash flow hedges, tax | (3) | 22 | (10) | 58 |
EEGH | ||||
Unrecognized amounts on retirement benefits, tax | (1) | 0 | (1) | 0 |
Unrealized gains (losses) on cash flow hedges, tax | $ 0 | $ 1 | $ 3 | $ 2 |
Consolidated Statements of Co_5
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - EGTS - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income (loss) | $ 494 | $ (842) | $ 2,558 | $ 1,926 |
Other comprehensive (loss) income, net of tax: | ||||
Comprehensive income (loss) attributable to BHE shareholders | 195 | (1,437) | 2,563 | 883 |
EGTS | ||||
Net income (loss) | 44 | 81 | 171 | 207 |
Other comprehensive (loss) income, net of tax: | ||||
Unrealized gains (losses) on cash flow hedges, net of tax | 0 | 0 | 1 | 1 |
Total other comprehensive (loss) income, net of tax | 0 | 0 | 1 | 1 |
Comprehensive income (loss) attributable to BHE shareholders | $ 44 | $ 81 | $ 172 | $ 208 |
Consolidated Statements of Co_6
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - EGTS (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Unrealized gains (losses) on cash flow hedges, tax | $ (3) | $ 22 | $ (10) | $ 58 |
EGTS | ||||
Unrealized gains (losses) on cash flow hedges, tax | $ 1 | $ 1 | $ 1 | $ 1 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions | Total | Preferred Stock | Common Stock | Additional Paid-in Capital | Long-term Income Tax Receivable | Retained Earnings | Accumulated Other Comprehensive (Loss) Income, Net | Noncontrolling Interest |
Balance at Dec. 31, 2021 | $ 50,589 | $ 1,650 | $ 0 | $ 6,374 | $ (744) | $ 40,754 | $ (1,340) | $ 3,895 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 2,302 | 1,926 | 376 | |||||
Other comprehensive income (loss) | (1,043) | (1,043) | ||||||
Long-term income tax receivable adjustments | 0 | 744 | (744) | |||||
Preferred stock redemptions | (800) | (800) | ||||||
Preferred stock dividend | (37) | (37) | ||||||
Common stock purchases | (870) | (77) | (793) | |||||
Distributions | (394) | (394) | ||||||
Contributions | 4 | 4 | ||||||
Other equity transactions | (6) | 1 | (13) | 6 | ||||
Balance at Sep. 30, 2022 | 49,745 | 850 | 0 | 6,298 | 0 | 41,093 | (2,383) | 3,887 |
Balance at Jun. 30, 2022 | 51,191 | 850 | 0 | 6,298 | (744) | 42,688 | (1,788) | 3,887 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | (695) | (842) | 147 | |||||
Other comprehensive income (loss) | (595) | (595) | ||||||
Long-term income tax receivable adjustments | 0 | 744 | (744) | |||||
Preferred stock dividend | (8) | (8) | ||||||
Distributions | (149) | (149) | ||||||
Contributions | 2 | 2 | ||||||
Other equity transactions | (1) | (1) | ||||||
Balance at Sep. 30, 2022 | 49,745 | 850 | 0 | 6,298 | 0 | 41,093 | (2,383) | 3,887 |
Balance at Dec. 31, 2022 | 50,639 | 850 | 0 | 6,298 | 0 | 41,833 | (2,149) | 3,807 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 2,879 | 2,558 | 321 | |||||
Other comprehensive income (loss) | 5 | 5 | ||||||
Preferred stock dividend | (25) | (25) | ||||||
Distributions | (357) | (357) | ||||||
Contributions | 3 | 3 | ||||||
Purchase of Cove Point noncontrolling interest (Note 3) | (3,180) | (725) | (1) | (2,454) | ||||
Other equity transactions | (9) | (1) | (8) | |||||
Balance at Sep. 30, 2023 | 49,955 | 850 | 0 | 5,573 | 0 | 44,365 | (2,145) | 1,312 |
Balance at Jun. 30, 2023 | 52,960 | 850 | 0 | 6,298 | 0 | 43,880 | (1,845) | 3,777 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 571 | 494 | 77 | |||||
Other comprehensive income (loss) | (299) | (299) | ||||||
Preferred stock dividend | (8) | (8) | ||||||
Distributions | (88) | (88) | ||||||
Purchase of Cove Point noncontrolling interest (Note 3) | (3,180) | (725) | (1) | (2,454) | ||||
Other equity transactions | (1) | (1) | ||||||
Balance at Sep. 30, 2023 | $ 49,955 | $ 850 | $ 0 | $ 5,573 | $ 0 | $ 44,365 | $ (2,145) | $ 1,312 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Unaudited) - PAC - USD ($) $ in Millions | Total | Accumulated Other Comprehensive (Loss) Income, Net | PAC | PAC Preferred Stock | PAC Common Stock | PAC Additional Paid-in Capital | PAC Retained Earnings | PAC Accumulated Other Comprehensive (Loss) Income, Net |
Balance at Dec. 31, 2021 | $ 9,913 | $ 2 | $ 0 | $ 4,479 | $ 5,449 | $ (17) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | $ 1,926 | 621 | 621 | |||||
Other comprehensive income (loss) | (1,043) | $ (1,043) | 1 | 1 | ||||
Common stock dividends declared | (100) | (100) | ||||||
Balance at Sep. 30, 2022 | 10,435 | 2 | 0 | 4,479 | 5,970 | (16) | ||
Balance at Jun. 30, 2022 | 10,026 | 2 | 0 | 4,479 | 5,561 | (16) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | (842) | 409 | 409 | |||||
Other comprehensive income (loss) | (595) | (595) | ||||||
Balance at Sep. 30, 2022 | 10,435 | 2 | 0 | 4,479 | 5,970 | (16) | ||
Balance at Dec. 31, 2022 | 46,832 | 10,741 | 2 | 0 | 4,479 | 6,269 | (9) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 2,558 | (666) | (666) | |||||
Other comprehensive income (loss) | 5 | 5 | ||||||
Common stock dividends declared | (300) | (300) | ||||||
Balance at Sep. 30, 2023 | 48,643 | 9,775 | 2 | 0 | 4,479 | 5,303 | (9) | |
Balance at Jun. 30, 2023 | 10,427 | 2 | 0 | 4,479 | 5,955 | (9) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 494 | (652) | (652) | |||||
Other comprehensive income (loss) | (299) | $ (299) | ||||||
Balance at Sep. 30, 2023 | $ 48,643 | $ 9,775 | $ 2 | $ 0 | $ 4,479 | $ 5,303 | $ (9) |
Statements of Changes in Shareh
Statements of Changes in Shareholder's Equity (Unaudited) - MEC - USD ($) $ in Millions | Total | Additional Paid-in Capital | Retained Earnings | MEC | MEC Common Stock | MEC Additional Paid-in Capital | MEC Retained Earnings |
Balance at Dec. 31, 2021 | $ 8,960 | $ 0 | $ 561 | $ 8,399 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | $ 1,926 | 756 | 756 | ||||
Common stock dividend | (50) | (50) | |||||
Other equity transactions | (6) | $ 1 | $ (13) | (1) | (1) | ||
Balance at Sep. 30, 2022 | 9,665 | 0 | 561 | 9,104 | |||
Balance at Jun. 30, 2022 | 9,411 | 0 | 561 | 8,850 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | (842) | 305 | 305 | ||||
Common stock dividend | (50) | (50) | |||||
Other equity transactions | (1) | (1) | (1) | (1) | |||
Balance at Sep. 30, 2022 | 9,665 | 0 | 561 | 9,104 | |||
Balance at Dec. 31, 2022 | 46,832 | 9,645 | 0 | 561 | 9,084 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 2,558 | 802 | 802 | ||||
Common stock dividend | (1,000) | (1,000) | |||||
Other equity transactions | (9) | (1) | 1 | 1 | |||
Balance at Sep. 30, 2023 | 48,643 | 9,448 | 0 | 561 | 8,887 | ||
Balance at Jun. 30, 2023 | 10,024 | 0 | 561 | 9,463 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 494 | 324 | 324 | ||||
Common stock dividend | (900) | (900) | |||||
Other equity transactions | (1) | $ (1) | |||||
Balance at Sep. 30, 2023 | $ 48,643 | $ 9,448 | $ 0 | $ 561 | $ 8,887 |
Consolidated Statements of Ch_3
Consolidated Statements of Changes in Member's Equity (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | Total | Additional Paid-in Capital | Retained Earnings | MidAmerican Funding, LLC | MidAmerican Funding, LLC Additional Paid-in Capital | MidAmerican Funding, LLC Retained Earnings |
Balance at Dec. 31, 2021 | $ 9,801 | $ 1,679 | $ 8,122 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 1,926 | 745 | 745 | |||
Other equity transactions | (6) | $ 1 | $ (13) | 1 | 1 | |
Balance at Sep. 30, 2022 | 10,547 | 1,679 | 8,868 | |||
Balance at Jun. 30, 2022 | 10,246 | 1,679 | 8,567 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | (842) | 300 | 300 | |||
Other equity transactions | (1) | (1) | 1 | 1 | ||
Balance at Sep. 30, 2022 | 10,547 | 1,679 | 8,868 | |||
Balance at Dec. 31, 2022 | 46,832 | 10,679 | 1,679 | 9,000 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 2,558 | 803 | 803 | |||
Distributions to member | (992) | (992) | ||||
Other equity transactions | (9) | (1) | ||||
Balance at Sep. 30, 2023 | 48,643 | 10,490 | 1,679 | 8,811 | ||
Balance at Jun. 30, 2023 | 11,061 | 1,679 | 9,382 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 494 | 321 | 321 | |||
Distributions to member | (892) | (892) | ||||
Other equity transactions | (1) | $ (1) | ||||
Balance at Sep. 30, 2023 | $ 48,643 | $ 10,490 | $ 1,679 | $ 8,811 |
Consolidated Statements of Ch_4
Consolidated Statements of Changes in Equity (Unaudited) - NPC - USD ($) $ in Millions | Total | NPC | NPC Common Stock | NPC Additional Paid-in Capital | NPC Retained Earnings | NPC Accumulated Other Comprehensive (Loss) Income, Net |
Balance (shares) at Dec. 31, 2021 | 1,000 | |||||
Balance at Dec. 31, 2021 | $ 3,030 | $ 0 | $ 2,308 | $ 724 | $ (2) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 1,926 | 283 | 283 | |||
Contributions | 25 | 25 | ||||
Balance (shares) at Sep. 30, 2022 | 1,000 | |||||
Balance at Sep. 30, 2022 | 3,338 | $ 0 | 2,333 | 1,007 | (2) | |
Balance (shares) at Jun. 30, 2022 | 1,000 | |||||
Balance at Jun. 30, 2022 | 3,129 | $ 0 | 2,333 | 798 | (2) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ (842) | 209 | 209 | |||
Balance (shares) at Sep. 30, 2022 | 1,000 | |||||
Balance at Sep. 30, 2022 | $ 3,338 | $ 0 | 2,333 | 1,007 | (2) | |
Balance (shares) at Dec. 31, 2022 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Dec. 31, 2022 | $ 46,832 | $ 3,354 | $ 0 | 2,333 | 1,022 | (1) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,558 | 281 | 281 | |||
Contributions | $ 400 | 400 | ||||
Balance (shares) at Sep. 30, 2023 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Sep. 30, 2023 | $ 48,643 | $ 4,035 | $ 0 | 2,733 | 1,303 | (1) |
Balance (shares) at Jun. 30, 2023 | 1,000 | |||||
Balance at Jun. 30, 2023 | 3,824 | $ 0 | 2,733 | 1,092 | (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 494 | $ 211 | 211 | |||
Balance (shares) at Sep. 30, 2023 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Sep. 30, 2023 | $ 48,643 | $ 4,035 | $ 0 | $ 2,733 | $ 1,303 | $ (1) |
Consolidated Statements of Ch_5
Consolidated Statements of Changes in Equity (Unaudited) - SPPC - USD ($) $ in Millions | Total | SPPC | SPPC Common Stock | SPPC Additional Paid-in Capital | SPPC Retained Earnings | SPPC Accumulated Other Comprehensive (Loss) Income, Net |
Balance (shares) at Dec. 31, 2021 | 1,000 | |||||
Balance at Dec. 31, 2021 | $ 1,535 | $ 0 | $ 1,111 | $ 425 | $ (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 1,926 | 100 | 100 | |||
Dividends declared | (70) | (70) | ||||
Contributions | 340 | 340 | ||||
Balance (shares) at Sep. 30, 2022 | 1,000 | |||||
Balance at Sep. 30, 2022 | 1,905 | $ 0 | 1,451 | 455 | (1) | |
Balance (shares) at Jun. 30, 2022 | 1,000 | |||||
Balance at Jun. 30, 2022 | 1,846 | $ 0 | 1,451 | 396 | (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ (842) | 59 | 59 | |||
Balance (shares) at Sep. 30, 2022 | 1,000 | |||||
Balance at Sep. 30, 2022 | $ 1,905 | $ 0 | 1,451 | 455 | (1) | |
Balance (shares) at Dec. 31, 2022 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Dec. 31, 2022 | $ 46,832 | $ 2,048 | $ 0 | 1,576 | 473 | (1) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,558 | 111 | 111 | |||
Dividends declared | $ (100) | (100) | ||||
Balance (shares) at Sep. 30, 2023 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Sep. 30, 2023 | $ 48,643 | $ 2,059 | $ 0 | 1,576 | 484 | (1) |
Balance (shares) at Jun. 30, 2023 | 1,000 | |||||
Balance at Jun. 30, 2023 | 2,095 | $ 0 | 1,576 | 520 | (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 494 | 64 | 64 | |||
Dividends declared | $ (100) | (100) | ||||
Balance (shares) at Sep. 30, 2023 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Sep. 30, 2023 | $ 48,643 | $ 2,059 | $ 0 | $ 1,576 | $ 484 | $ (1) |
Consolidated Statements of Ch_6
Consolidated Statements of Changes in Equity (Unaudited) - EEGH - USD ($) $ in Millions | Total | EEGH | Member Interests EEGH | Accumulated Other Comprehensive (Loss) Income, Net | Accumulated Other Comprehensive (Loss) Income, Net EEGH | Noncontrolling Interest | Noncontrolling Interest EEGH |
Balance at Dec. 31, 2021 | $ 50,589 | $ 7,494 | $ 3,501 | $ (1,340) | $ (43) | $ 3,895 | $ 4,036 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 2,302 | 723 | 348 | 375 | |||
Other comprehensive income | (1,043) | 5 | (1,043) | 5 | |||
Distributions | (425) | (37) | (388) | ||||
Contributions | 79 | 79 | |||||
Balance at Sep. 30, 2022 | 49,745 | 7,876 | 3,891 | (2,383) | (38) | 3,887 | 4,023 |
Balance at Jun. 30, 2022 | 51,191 | 7,717 | 3,733 | (1,788) | (39) | 3,887 | 4,023 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | (695) | 297 | 151 | 146 | |||
Other comprehensive income | (595) | 1 | (595) | 1 | |||
Distributions | (150) | (4) | (146) | ||||
Contributions | 11 | 11 | |||||
Balance at Sep. 30, 2022 | 49,745 | 7,876 | 3,891 | (2,383) | (38) | 3,887 | 4,023 |
Balance at Dec. 31, 2022 | 50,639 | 7,888 | 3,983 | (2,149) | (42) | 3,807 | 3,947 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 2,879 | 640 | 313 | 327 | |||
Other comprehensive income | 5 | 4 | 5 | 4 | |||
Distributions | (586) | (233) | (353) | ||||
Contributions | 2,913 | 2,913 | |||||
Purchase of Cove Point noncontrolling interest (Note 2) | (3,180) | (3,180) | (559) | (1) | (1) | (2,454) | (2,620) |
Balance at Sep. 30, 2023 | 49,955 | 7,679 | 6,417 | (2,145) | (39) | 1,312 | 1,301 |
Balance at Jun. 30, 2023 | 52,960 | 8,044 | 4,152 | (1,845) | (38) | 3,777 | 3,930 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 571 | 170 | 92 | 78 | |||
Other comprehensive income | (299) | 0 | (299) | ||||
Distributions | (235) | (148) | (87) | ||||
Contributions | 2,880 | 2,880 | |||||
Purchase of Cove Point noncontrolling interest (Note 2) | (3,180) | (3,180) | (559) | (1) | (1) | (2,454) | (2,620) |
Balance at Sep. 30, 2023 | $ 49,955 | $ 7,679 | $ 6,417 | $ (2,145) | $ (39) | $ 1,312 | $ 1,301 |
Consolidated Statements of Ch_7
Consolidated Statements of Changes in Equity (Unaudited) - EGTS - USD ($) $ in Millions | Total | EGTS | Common Stock EGTS | Additional Paid-in Capital EGTS | Retained Earnings EGTS | Accumulated Other Comprehensive Loss, Net EGTS |
Balance (shares) at Dec. 31, 2021 | 60,101,000,000 | |||||
Balance at Dec. 31, 2021 | $ 2,540 | $ 609 | $ 1,241 | $ 721 | $ (31) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 1,926 | 207 | 207 | |||
Other comprehensive income | 1 | 1 | ||||
Dividends declared | (189) | (189) | ||||
Contributions | 24 | 24 | ||||
Balance (shares) at Sep. 30, 2022 | 60,101,000,000 | |||||
Balance at Sep. 30, 2022 | 2,583 | $ 609 | 1,265 | 739 | (30) | |
Balance (shares) at Jun. 30, 2022 | 60,101,000,000 | |||||
Balance at Jun. 30, 2022 | 2,583 | $ 609 | 1,254 | 750 | (30) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ (842) | 81 | 81 | |||
Other comprehensive income | 0 | |||||
Dividends declared | (92) | (92) | ||||
Contributions | 11 | 11 | ||||
Balance (shares) at Sep. 30, 2022 | 60,101,000,000 | |||||
Balance at Sep. 30, 2022 | $ 2,583 | $ 609 | 1,265 | 739 | (30) | |
Balance (shares) at Dec. 31, 2022 | 76,000,000 | 60,101 | 60,101,000,000 | |||
Balance at Dec. 31, 2022 | $ 46,832 | $ 2,600 | $ 609 | 1,275 | 746 | (30) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 2,558 | 171 | 171 | |||
Other comprehensive income | 1 | 1 | ||||
Dividends declared | (154) | (154) | ||||
Contributions | $ 25 | 25 | ||||
Balance (shares) at Sep. 30, 2023 | 76,000,000 | 60,101 | 60,101,000,000 | |||
Balance at Sep. 30, 2023 | $ 48,643 | $ 2,643 | $ 609 | 1,300 | 763 | (29) |
Balance (shares) at Jun. 30, 2023 | 60,101,000,000 | |||||
Balance at Jun. 30, 2023 | 2,623 | $ 609 | 1,300 | 743 | (29) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 494 | 44 | 44 | |||
Other comprehensive income | 0 | |||||
Dividends declared | $ (24) | (24) | ||||
Balance (shares) at Sep. 30, 2023 | 76,000,000 | 60,101 | 60,101,000,000 | |||
Balance at Sep. 30, 2023 | $ 48,643 | $ 2,643 | $ 609 | $ 1,300 | $ 763 | $ (29) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,879 | $ 2,302 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
(Gains) losses on marketable securities, net | (926) | 1,999 |
Depreciation and amortization | 3,072 | 3,197 |
Allowance for equity funds | (186) | (123) |
Equity loss (income), net of distributions | 274 | 249 |
Net power cost deferrals | (722) | (1,008) |
Amortization of net power cost deferrals | 303 | 246 |
Other changes in regulatory assets and liabilities | (222) | (81) |
Deferred income taxes and investment tax credits, net | (172) | (350) |
Other, net | (62) | 53 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (224) | (85) |
Derivative collateral, net | (201) | 106 |
Pension and other postretirement benefit plans | (10) | (31) |
Accrued property, income and other taxes, net | (52) | 501 |
Accounts payable and other liabilities | 512 | 900 |
Wildfires insurance receivable | (257) | (161) |
Wildfires liability | 1,854 | 225 |
Net cash flows from operating activities | 5,860 | 7,939 |
Cash flows from investing activities: | ||
Capital expenditures | (6,526) | (5,385) |
Purchases of marketable securities | (226) | (375) |
Proceeds from sales of marketable securities | 2,138 | 961 |
Purchases of U.S. Treasury Bills | (3,294) | (613) |
Proceeds from sales of U.S. Treasury Bills | 1,651 | 0 |
Proceeds from maturities of U.S. Treasury Bills | 3,034 | 0 |
Equity method investments | (12) | (29) |
Other, net | 13 | (28) |
Net cash flows from investing activities | (3,222) | (5,469) |
Cash flows from financing activities: | ||
Preferred stock redemptions | 0 | (800) |
Preferred dividends | (17) | (33) |
Common stock purchases | 0 | (870) |
Proceeds from BHE senior debt | 0 | 986 |
Repayments of BHE senior debt | (400) | 0 |
Proceeds from subsidiary debt | 3,413 | 1,198 |
Repayments of subsidiary debt | (1,868) | (882) |
Net proceeds from (repayments of) short-term debt | 498 | (540) |
Purchase of Cove Point noncontrolling interest | (3,300) | 0 |
Distributions to noncontrolling interests | (357) | (395) |
Other, net | (43) | (269) |
Net cash flows from financing activities | (2,074) | (1,605) |
Effect of exchange rate changes | 2 | (51) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 566 | 814 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,817 | 1,244 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 2,383 | $ 2,058 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Unaudited) - PAC - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,558 | $ 1,926 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Allowance for equity funds | (186) | (123) |
Net power cost deferrals | (722) | (1,008) |
Amortization of net power cost deferrals | 303 | 246 |
Other changes in regulatory assets and liabilities | (222) | (81) |
Deferred income taxes and investment tax credits, net | (172) | (350) |
Other, net | (62) | 53 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (224) | (85) |
Derivative collateral, net | (201) | 106 |
Accrued property, income and other taxes, net | (52) | 501 |
Accounts payable and other liabilities | 512 | 900 |
Wildfires insurance receivable | (257) | (161) |
Wildfires liability | 1,854 | 225 |
Net cash flows from operating activities | 5,860 | 7,939 |
Cash flows from investing activities: | ||
Capital expenditures | (6,526) | (5,385) |
Other, net | 13 | (28) |
Net cash flows from investing activities | (3,222) | (5,469) |
Cash flows from financing activities: | ||
Proceeds from short-term debt | 498 | (540) |
Other, net | (43) | (269) |
Net cash flows from financing activities | (2,074) | (1,605) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 566 | 814 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,817 | 1,244 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,383 | 2,058 |
PAC | ||
Cash flows from operating activities: | ||
Net income (loss) | (666) | 621 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Depreciation and amortization | 843 | 836 |
Allowance for equity funds | (101) | (47) |
Net power cost deferrals | (578) | (262) |
Amortization of net power cost deferrals | 156 | 67 |
Other changes in regulatory assets and liabilities | (101) | (90) |
Deferred income taxes and investment tax credits, net | (320) | 48 |
Other, net | 1 | 15 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (133) | (47) |
Inventories | (45) | 3 |
Derivative collateral, net | (87) | 28 |
Prepaid expenses | (56) | (25) |
Accrued property, income and other taxes, net | 165 | 180 |
Accounts payable and other liabilities | 392 | 361 |
Wildfires insurance receivable | (257) | (161) |
Wildfires liability | 1,854 | 225 |
Net cash flows from operating activities | 1,067 | 1,752 |
Cash flows from investing activities: | ||
Capital expenditures | (2,250) | (1,481) |
Other, net | 5 | 4 |
Net cash flows from investing activities | (2,245) | (1,477) |
Cash flows from financing activities: | ||
Proceeds from long-term debt | 1,189 | 0 |
Repayments of long-term debt | (401) | (104) |
Proceeds from short-term debt | 165 | 0 |
Dividends paid | (300) | (100) |
Other, net | (4) | (2) |
Net cash flows from financing activities | 649 | (206) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (529) | 69 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 674 | 186 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 145 | $ 255 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - MEC - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,558 | $ 1,926 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Allowance for equity funds | (186) | (123) |
Deferred income taxes and investment tax credits, net | (172) | (350) |
Other, net | (62) | 53 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (224) | (85) |
Pension and other postretirement benefit plans | (10) | (31) |
Accrued property, income and other taxes, net | (52) | 501 |
Accounts payable and other liabilities | 512 | 900 |
Net cash flows from operating activities | 5,860 | 7,939 |
Cash flows from investing activities: | ||
Capital expenditures | (6,526) | (5,385) |
Purchases of marketable securities | (226) | (375) |
Proceeds from sales of marketable securities | 2,138 | 961 |
Other, net | 13 | (28) |
Net cash flows from investing activities | (3,222) | (5,469) |
Cash flows from financing activities: | ||
Other, net | (43) | (269) |
Net cash flows from financing activities | (2,074) | (1,605) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 566 | 814 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,817 | 1,244 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,383 | 2,058 |
MEC | ||
Cash flows from operating activities: | ||
Net income (loss) | 802 | 756 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Depreciation and amortization | 670 | 865 |
Amortization of utility plant to other operating expenses | 25 | 26 |
Allowance for equity funds | (40) | (41) |
Deferred income taxes and investment tax credits, net | 106 | 11 |
Settlements of asset retirement obligations | (20) | (55) |
Other, net | 44 | 40 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 175 | (10) |
Inventories | (56) | (38) |
Pension and other postretirement benefit plans | (1) | 4 |
Accrued property, income and other taxes, net | 93 | 197 |
Accounts payable and other liabilities | (37) | 46 |
Net cash flows from operating activities | 1,761 | 1,801 |
Cash flows from investing activities: | ||
Capital expenditures | (1,339) | (1,404) |
Purchases of marketable securities | (165) | (306) |
Proceeds from sales of marketable securities | 150 | 299 |
Other, net | 14 | 12 |
Net cash flows from investing activities | (1,340) | (1,399) |
Cash flows from financing activities: | ||
Common stock dividends | (1,000) | (50) |
Proceeds from long-term debt | 1,338 | 0 |
Repayments of long-term debt | (316) | (2) |
Other, net | (2) | 0 |
Net cash flows from financing activities | 20 | (52) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 441 | 350 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 268 | 239 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 709 | $ 589 |
Consolidated Statements of Ca_3
Consolidated Statements of Cash Flows (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,558 | $ 1,926 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Allowance for equity funds | (186) | (123) |
Deferred income taxes and investment tax credits, net | (172) | (350) |
Other, net | (62) | 53 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (224) | (85) |
Pension and other postretirement benefit plans | (10) | (31) |
Accrued property, income and other taxes, net | (52) | 501 |
Accounts payable and other liabilities | 512 | 900 |
Net cash flows from operating activities | 5,860 | 7,939 |
Cash flows from investing activities: | ||
Capital expenditures | (6,526) | (5,385) |
Purchases of marketable securities | (226) | (375) |
Proceeds from sales of marketable securities | 2,138 | 961 |
Other, net | 13 | (28) |
Net cash flows from investing activities | (3,222) | (5,469) |
Cash flows from financing activities: | ||
Proceeds from subsidiary debt | 3,413 | 1,198 |
Repayments of long-term debt | (1,868) | (882) |
Other, net | (43) | (269) |
Net cash flows from financing activities | (2,074) | (1,605) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 566 | 814 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,817 | 1,244 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,383 | 2,058 |
MidAmerican Funding, LLC | ||
Cash flows from operating activities: | ||
Net income (loss) | 803 | 745 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Depreciation and amortization | 670 | 865 |
Amortization of utility plant to other operating expenses | 25 | 26 |
Allowance for equity funds | (40) | (41) |
Deferred income taxes and investment tax credits, net | 106 | 11 |
Settlements of asset retirement obligations | (20) | (55) |
Other, net | 31 | 42 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 166 | (12) |
Inventories | (56) | (38) |
Pension and other postretirement benefit plans | (1) | 4 |
Accrued property, income and other taxes, net | 94 | 197 |
Accounts payable and other liabilities | (41) | 42 |
Net cash flows from operating activities | 1,737 | 1,786 |
Cash flows from investing activities: | ||
Capital expenditures | (1,339) | (1,404) |
Purchases of marketable securities | (165) | (306) |
Proceeds from sales of marketable securities | 150 | 299 |
Proceeds from sale of investment | 12 | 0 |
Other, net | 14 | 12 |
Net cash flows from investing activities | (1,328) | (1,399) |
Cash flows from financing activities: | ||
Distributions to member | (992) | 0 |
Proceeds from subsidiary debt | 1,338 | 0 |
Repayments of long-term debt | (316) | (2) |
Net change in note payable to affiliate | 1 | (34) |
Other, net | (2) | (1) |
Net cash flows from financing activities | 29 | (37) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 438 | 350 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 271 | 240 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 709 | $ 590 |
Consolidated Statements of Ca_4
Consolidated Statements of Cash Flows (Unaudited) - NPC - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,558 | $ 1,926 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Allowance for equity funds | (186) | (123) |
Deferred income taxes and investment tax credits, net | (172) | (350) |
Net power cost deferrals | (722) | (1,008) |
Amortization of net power cost deferrals | 303 | 246 |
Other, net | (62) | 53 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (224) | (85) |
Accrued property, income and other taxes, net | (52) | 501 |
Accounts payable and other liabilities | 512 | 900 |
Net cash flows from operating activities | 5,860 | 7,939 |
Cash flows from investing activities: | ||
Capital expenditures | (6,526) | (5,385) |
Net cash flows from investing activities | (3,222) | (5,469) |
Cash flows from financing activities: | ||
Net proceeds from (repayments of) short-term debt | 498 | (540) |
Other, net | (43) | (269) |
Net cash flows from financing activities | (2,074) | (1,605) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 566 | 814 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,817 | 1,244 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,383 | 2,058 |
NPC | ||
Cash flows from operating activities: | ||
Net income (loss) | 281 | 283 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Depreciation and amortization | 323 | 312 |
Allowance for equity funds | (14) | (8) |
Other changes in regulatory assets and liabilities | (31) | (9) |
Deferred income taxes and investment tax credits, net | (18) | 48 |
Net power cost deferrals | (184) | (543) |
Amortization of net power cost deferrals | 70 | 113 |
Other, net | 0 | 11 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (191) | (302) |
Inventories | (34) | (14) |
Accrued property, income and other taxes, net | 68 | 15 |
Accounts payable and other liabilities | 153 | 326 |
Net cash flows from operating activities | 423 | 232 |
Cash flows from investing activities: | ||
Capital expenditures | (1,102) | (523) |
Proceeds from repayment of affiliate note receivable | 100 | 0 |
Net cash flows from investing activities | (1,002) | (523) |
Cash flows from financing activities: | ||
Proceeds from long-term debt | 494 | 300 |
Repayments of long-term debt | (300) | 0 |
Net proceeds from (repayments of) short-term debt | 0 | 20 |
Contributions from parent | 400 | 25 |
Other, net | (15) | (13) |
Net cash flows from financing activities | 579 | 332 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 0 | 41 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 60 | 45 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 60 | $ 86 |
Consolidated Statements of Ca_5
Consolidated Statements of Cash Flows (Unaudited) - SPPC - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,558 | $ 1,926 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Allowance for equity funds | (186) | (123) |
Deferred income taxes and investment tax credits, net | (172) | (350) |
Deferred energy | (722) | (1,008) |
Amortization of deferred energy | 303 | 246 |
Other, net | (62) | 53 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | (224) | (85) |
Accrued property, income and other taxes, net | (52) | 501 |
Accounts payable and other liabilities | 512 | 900 |
Net cash flows from operating activities | 5,860 | 7,939 |
Cash flows from investing activities: | ||
Capital expenditures | (6,526) | (5,385) |
Net cash flows from investing activities | (3,222) | (5,469) |
Cash flows from financing activities: | ||
Repayments of long-term debt | (1,868) | (882) |
Net proceeds from (repayments of) short-term debt | 498 | (540) |
Other, net | (43) | (269) |
Net cash flows from financing activities | (2,074) | (1,605) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 566 | 814 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,817 | 1,244 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,383 | 2,058 |
SPPC | ||
Cash flows from operating activities: | ||
Net income (loss) | 111 | 100 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Depreciation and amortization | 138 | 110 |
Allowance for equity funds | (10) | (5) |
Other changes in regulatory assets and liabilities | 6 | (9) |
Deferred income taxes and investment tax credits, net | (38) | 22 |
Deferred energy | 40 | (203) |
Amortization of deferred energy | 77 | 66 |
Other, net | 0 | 3 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | (2) | (32) |
Inventories | (31) | (11) |
Accrued property, income and other taxes, net | (1) | (9) |
Accounts payable and other liabilities | 16 | 74 |
Net cash flows from operating activities | 306 | 106 |
Cash flows from investing activities: | ||
Capital expenditures | (284) | (278) |
Net cash flows from investing activities | (284) | (278) |
Cash flows from financing activities: | ||
Proceeds from long-term debt | 394 | 248 |
Repayments of long-term debt | (250) | 0 |
Repayments of long-term debt | 0 | (265) |
Net proceeds from (repayments of) short-term debt | 0 | (39) |
Dividends paid | (100) | (70) |
Contributions from parent | 0 | 340 |
Repayment of notes payable to affiliates, net | (70) | 0 |
Other, net | (6) | (5) |
Net cash flows from financing activities | (32) | 209 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (10) | 37 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 56 | 16 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 46 | $ 53 |
Consolidated Statements of Ca_6
Consolidated Statements of Cash Flows (Unaudited) - EEGH - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 2,879 | $ 2,302 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Depreciation and amortization | 3,072 | 3,197 |
Allowance for equity funds | (186) | (123) |
Equity loss (income), net of distributions | 274 | 249 |
Deferred income taxes | (172) | (350) |
Other, net | (62) | 53 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | (224) | (85) |
Derivative collateral, net | (201) | 106 |
Accrued property, income and other taxes | (52) | 501 |
Accounts payable and other liabilities | 512 | 900 |
Net cash flows from operating activities | 5,860 | 7,939 |
Cash flows from investing activities: | ||
Capital expenditures | (6,526) | (5,385) |
Other, net | 13 | (28) |
Net cash flows from investing activities | (3,222) | (5,469) |
Cash flows from financing activities: | ||
Purchase of Cove Point noncontrolling interest | (3,300) | 0 |
Distributions to noncontrolling interests | (357) | (395) |
Other, net | (43) | (269) |
Net cash flows from financing activities | (2,074) | (1,605) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 566 | 814 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,817 | 1,244 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,383 | 2,058 |
EEGH | ||
Cash flows from operating activities: | ||
Net income | 640 | 723 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
(Gains) losses on other items, net | (5) | 2 |
Depreciation and amortization | 240 | 241 |
Allowance for equity funds | (6) | (5) |
Equity loss (income), net of distributions | 16 | (46) |
Other changes in regulatory assets and liabilities | (97) | 37 |
Deferred income taxes | 267 | 99 |
Other, net | (3) | 7 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 84 | (48) |
Receivables from affiliates | 10 | 33 |
Gas balancing activities | 22 | (48) |
Derivative collateral, net | 1 | (3) |
Accrued property, income and other taxes | (194) | 8 |
Accounts payable to affiliates | 9 | (18) |
Accounts payable and other liabilities | (2) | 53 |
Net cash flows from operating activities | 982 | 1,035 |
Cash flows from investing activities: | ||
Capital expenditures | (241) | (252) |
Proceeds from assignment of shale development rights | 8 | 0 |
Proceeds from repayment of affiliate note receivable | 734 | 31 |
Notes to affiliates | (198) | (363) |
Other, net | (2) | (11) |
Net cash flows from investing activities | 301 | (595) |
Cash flows from financing activities: | ||
Repayments of long-term debt | (250) | 0 |
Proceeds from equity contributions | 2,876 | 0 |
Purchase of Cove Point noncontrolling interest | (3,300) | 0 |
Distributions to noncontrolling interests | (353) | (388) |
Distributions | (226) | 0 |
Other, net | 0 | (4) |
Net cash flows from financing activities | (1,253) | (392) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 30 | 48 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 95 | 39 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 125 | $ 87 |
Consolidated Statements of Ca_7
Consolidated Statements of Cash Flows (Unaudited) - EGTS - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,558 | $ 1,926 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
Depreciation and amortization | 3,072 | 3,197 |
Allowance for equity funds | (186) | (123) |
Deferred income taxes | (172) | (350) |
Other, net | (62) | 53 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | (224) | (85) |
Accrued property, income and other taxes | (52) | 501 |
Accounts payable and other liabilities | 512 | 900 |
Net cash flows from operating activities | 5,860 | 7,939 |
Cash flows from investing activities: | ||
Capital expenditures | (6,526) | (5,385) |
Other, net | 13 | (28) |
Net cash flows from investing activities | (3,222) | (5,469) |
Cash flows from financing activities: | ||
Net cash flows from financing activities | (2,074) | (1,605) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 566 | 814 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,817 | 1,244 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,383 | 2,058 |
EGTS | ||
Cash flows from operating activities: | ||
Net income (loss) | 171 | 207 |
Adjustments to reconcile net (loss) income to net cash flows from operating activities: | ||
(Gains) losses on other items, net | (8) | 1 |
Depreciation and amortization | 112 | 115 |
Allowance for equity funds | (4) | (3) |
Other changes in regulatory assets and liabilities | (79) | 35 |
Deferred income taxes | 50 | 58 |
Other, net | (5) | 5 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 35 | 34 |
Receivables from affiliates | 5 | 3 |
Gas balancing activities | 26 | (47) |
Accrued property, income and other taxes | (21) | (1) |
Accounts payable and other liabilities | 24 | 34 |
Accounts payable to affiliates | 11 | 7 |
Net cash flows from operating activities | 317 | 448 |
Cash flows from investing activities: | ||
Capital expenditures | (163) | (179) |
Proceeds from assignment of shale development rights | 8 | 0 |
Repayment of notes by affiliates | 0 | 11 |
Notes to affiliates | 0 | (8) |
Other, net | (4) | (9) |
Net cash flows from investing activities | (159) | (185) |
Cash flows from financing activities: | ||
Net change in note payable to affiliate | (21) | (53) |
Dividends paid | (141) | (172) |
Net cash flows from financing activities | (162) | (225) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (4) | 38 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 45 | 26 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 41 | $ 64 |
General
General | 9 Months Ended |
Sep. 30, 2023 | |
Segment Reporting Information [Line Items] | |
General | General Berkshire Hathaway Energy Company ("BHE") is a holding company that owns a highly diversified portfolio of locally managed and operated businesses principally engaged in the energy industry (collectively with its subsidiaries, the "Company") and is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). The Company's operations are organized as eight business segments: PacifiCorp and its subsidiaries ("PacifiCorp"), MidAmerican Funding, LLC and its subsidiaries ("MidAmerican Funding") (which primarily consists of MidAmerican Energy Company ("MidAmerican Energy")), NV Energy, Inc. and its subsidiaries ("NV Energy") (which primarily consists of Nevada Power Company and its subsidiaries ("Nevada Power") and Sierra Pacific Power Company and its subsidiaries ("Sierra Pacific")), Northern Powergrid Holdings Company and its subsidiaries ("Northern Powergrid") (which primarily consists of Northern Powergrid (Northeast) plc and Northern Powergrid (Yorkshire) plc), BHE Pipeline Group, LLC and its subsidiaries (which primarily consists of BHE GT&S, LLC and its subsidiaries ("BHE GT&S"), Northern Natural Gas Company ("Northern Natural Gas") and Kern River Gas Transmission Company ("Kern River")), BHE Transmission (which consists of BHE Canada Holdings Corporation and its subsidiaries ("BHE Canada") (which primarily consists of AltaLink, L.P. ("AltaLink")) and BHE U.S. Transmission, LLC and its subsidiaries), BHE Renewables, LLC and its subsidiaries ("BHE Renewables") and HomeServices of America, Inc. and its subsidiaries ("HomeServices"). The Company, through these locally managed and operated businesses, owns four utility companies in the U.S. serving customers in 11 states, two electricity distribution companies in Great Britain, five interstate natural gas pipeline companies in the U.S., interests in a liquefied natural gas ("LNG") export, import and storage facility in the U.S., an electric transmission business in Canada, interests in electric transmission businesses in the U.S., a renewable energy business primarily investing in wind, solar, geothermal and hydroelectric projects and one of the largest residential real estate brokerage firms and residential real estate brokerage franchise networks in the U.S. The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in the Company's accounting policies or its assumptions regarding significant accounting estimates during the nine-month period ended September 30, 2023, other than the updates associated with the Company's estimates of loss contingencies related to the Oregon and Northern California 2020 wildfires (the "2020 Wildfires") and a wildfire that began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California in July 2022 (the "2022 McKinney Fire"), referred to together as "the Wildfires" as discussed in Note 11. |
PAC | |
Segment Reporting Information [Line Items] | |
General | General PacifiCorp, which includes PacifiCorp and its subsidiaries, is a U.S. regulated electric utility company serving retail customers, including residential, commercial, industrial, irrigation and other customers in portions of Utah, Oregon, Wyoming, Washington, Idaho and California. PacifiCorp owns, or has interests in, a number of thermal, hydroelectric, wind-powered and geothermal generating facilities, as well as electric transmission and distribution assets. PacifiCorp also buys and sells electricity on the wholesale market with other utilities, energy marketing companies, financial institutions and other market participants. PacifiCorp is subject to comprehensive state and federal regulation. PacifiCorp's subsidiaries support its electric utility operations by providing coal mining services. PacifiCorp is an indirect subsidiary of Berkshire Hathaway Energy Company ("BHE"), a holding company based in Des Moines, Iowa that owns subsidiaries principally engaged in energy businesses. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The Consolidated Statements of Comprehensive Income (Loss) have been omitted as net income (loss) materially equals comprehensive income (loss) for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in PacifiCorp's Annual Report on Form 10-K for the year ended December 31, 2022, describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in PacifiCorp's accounting policies or its assumptions regarding significant accounting estimates during the nine-month period ended September 30, 2023, other than the updates associated with PacifiCorp's estimates of loss contingencies related to the Oregon and Northern California 2020 wildfires (the "2020 Wildfires") and a wildfire that began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California in July 2022 (the "2022 McKinney Fire"), referred to together as "the Wildfires" as discussed in Note 9. |
MEC | |
Segment Reporting Information [Line Items] | |
General | General MidAmerican Energy Company ("MidAmerican Energy") is a public utility with electric and natural gas operations and is the principal subsidiary of MHC Inc. ("MHC"). MHC is a holding company that conducts no business other than the ownership of its subsidiaries. MHC's nonregulated subsidiary is Midwest Capital Group, Inc. MHC is the direct wholly owned subsidiary of MidAmerican Funding, LLC ("MidAmerican Funding"), which is an Iowa limited liability company with Berkshire Hathaway Energy Company ("BHE") as its sole member. BHE is a holding company based in Des Moines, Iowa, that owns subsidiaries principally engaged in energy businesses. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). The unaudited Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the nine-month period ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Financial Statements. Note 2 of Notes to Financial Statements included in MidAmerican Energy's Annual Report on Form 10-K for the year ended December 31, 2022, describes the most significant accounting policies used in the preparation of the unaudited Financial Statements. There have been no significant changes in MidAmerican Energy's accounting policies or its assumptions regarding significant accounting estimates during the nine-month period ended September 30, 2023. |
MidAmerican Funding, LLC | |
Segment Reporting Information [Line Items] | |
General | General MidAmerican Funding, LLC ("MidAmerican Funding") is an Iowa limited liability company with Berkshire Hathaway Energy Company ("BHE") as its sole member. BHE is a holding company based in Des Moines, Iowa, that owns subsidiaries principally engaged in energy businesses. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). MidAmerican Funding's direct wholly owned subsidiary is MHC Inc. ("MHC"), which constitutes substantially all of MidAmerican Funding's assets, liabilities and business activities except those related to MidAmerican Funding's long-term debt securities. MHC conducts no business other than the ownership of its subsidiaries. MHC's principal subsidiary is MidAmerican Energy Company ("MidAmerican Energy"), a public utility with electric and natural gas operations, and its direct wholly owned nonregulated subsidiary is Midwest Capital Group, Inc. The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the nine-month period ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in MidAmerican Funding's Annual Report on Form 10-K for the year ended December 31, 2022, describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in MidAmerican Funding's accounting policies or its assumptions regarding significant accounting estimates during the nine-month period ended September 30, 2023. |
NPC | |
Segment Reporting Information [Line Items] | |
General | General Nevada Power Company, together with its subsidiaries ("Nevada Power"), is a wholly owned subsidiary of NV Energy, Inc. ("NV Energy"), a holding company that also owns Sierra Pacific Power Company and its subsidiaries ("Sierra Pacific") and certain other subsidiaries. Nevada Power is a U.S. regulated electric utility company serving retail customers, including residential, commercial and industrial customers, primarily in the Las Vegas, North Las Vegas, Henderson and adjoining areas. NV Energy is an indirect wholly owned subsidiary of Berkshire Hathaway Energy Company ("BHE"). BHE is a holding company based in Des Moines, Iowa that owns subsidiaries principally engaged in energy businesses. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in Nevada Power's Annual Report on Form 10-K for the year ended December 31, 2022, describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in Nevada Power's accounting policies or its assumptions regarding significant accounting estimates during the nine-month period ended September 30, 2023. |
SPPC | |
Segment Reporting Information [Line Items] | |
General | General Sierra Pacific Power Company, together with its subsidiaries ("Sierra Pacific"), is a wholly owned subsidiary of NV Energy, Inc. ("NV Energy"), a holding company that also owns Nevada Power Company and its subsidiaries ("Nevada Power") and certain other subsidiaries. Sierra Pacific is a U.S. regulated electric utility company serving retail customers, including residential, commercial and industrial customers and regulated retail natural gas customers primarily in northern Nevada. NV Energy is an indirect wholly owned subsidiary of Berkshire Hathaway Energy Company ("BHE"). BHE is a holding company based in Des Moines, Iowa that owns subsidiaries principally engaged in energy businesses. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in Sierra Pacific's Annual Report on Form 10-K for the year ended December 31, 2022, describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in Sierra Pacific's accounting policies or its assumptions regarding significant accounting estimates during the nine-month period ended September 30, 2023. |
EEGH | |
Segment Reporting Information [Line Items] | |
General | General Eastern Energy Gas Holdings, LLC is a holding company, and together with its subsidiaries ("Eastern Energy Gas") conducts business activities consisting of Federal Energy Regulatory Commission ("FERC")-regulated interstate natural gas transmission systems and underground storage operations in the eastern region of the U.S. and operates Cove Point LNG, LP ("Cove Point"), a liquefied natural gas ("LNG") export, import and storage facility. On September 1, 2023, Eastern Energy Gas completed its acquisition of 50% of the limited partner interests in Cove Point from Dominion Energy, Inc. ("DEI"), and accordingly, owns an aggregate of 75% of the limited partner interests and continues to own 100% of the general partner interest of Cove Point. In addition, Eastern Energy Gas owns a 50% noncontrolling interest in Iroquois Gas Transmission System, L.P. ("Iroquois"), a 416-mile FERC-regulated interstate natural gas transmission system. Eastern Energy Gas is an indirect wholly owned subsidiary of Berkshire Hathaway Energy Company ("BHE"). BHE is a holding company based in Des Moines, Iowa that owns subsidiaries principally engaged in the energy industry. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023 and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023 are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in Eastern Energy Gas' Annual Report on Form 10-K for the year ended December 31, 2022 describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in Eastern Energy Gas' accounting policies or its assumptions regarding significant accounting estimates during the nine-month period ended September 30, 2023. |
EGTS | |
Segment Reporting Information [Line Items] | |
General | General Eastern Gas Transmission and Storage, Inc. and its subsidiaries ("EGTS") conduct business activities consisting of Federal Energy Regulatory Commission ("FERC")-regulated interstate natural gas transmission systems and underground storage. EGTS' operations include transmission assets located in Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia. EGTS also operates one of the nation's largest underground natural gas storage systems located in New York, Pennsylvania and West Virginia. EGTS is a wholly owned subsidiary of Eastern Energy Gas Holdings, LLC ("Eastern Energy Gas"), which is an indirect wholly owned subsidiary of Berkshire Hathaway Energy Company ("BHE"). BHE is a holding company based in Des Moines, Iowa that owns subsidiaries principally engaged in the energy industry. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023 and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023 are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in EGTS' Annual Report on Form 10-K for the year ended December 31, 2022 describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in EGTS' accounting policies or its assumptions regarding significant accounting estimates during the nine-month period ended September 30, 2023. |
New Accounting Pronouncements
New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Pronouncements | New Accounting PronouncementsIn March 2023, the FASB issued ASU No. 2023-02, amending FASB ASC Topic 323-740, "Investments—Equity Method and Joint Ventures—Income Taxes" which set forth the conditions needed to apply the proportional amortization method. The amendments in this update permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. This guidance is effective for interim and annual reporting periods beginning after December 15, 2023, with early adoption permitted, and is required to be adopted either using a modified retrospective approach by means of a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption or a retrospective approach by means of a cumulative-effect adjustment to retained earnings as of the beginning of the earliest fiscal year presented. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
Business Acquisitions
Business Acquisitions | 9 Months Ended |
Sep. 30, 2023 | |
Business Acquisition [Line Items] | |
Business Acquisitions | Business AcquisitionsOn September 1, 2023, BHE and Eastern MLP Holding Company II, LLC ("the Buyer"), an indirect wholly owned subsidiary of BHE, completed the acquisition of DECP Holdings, Inc.'s (the "Seller"), an indirect wholly owned subsidiary of Dominion Energy, Inc., 50% limited partner interests in Cove Point LNG, LP ("Cove Point") ("The Transaction"). Under the terms of the Purchase and Sale Agreement, dated July 9, 2023 (the "Purchase Agreement"), the Buyer paid $3.3 billion in cash, plus the pro rata portion of the quarterly distribution made by Cove Point for the third fiscal quarter of 2023. BHE funded the Transaction with cash on hand, including cash realized from the liquidation of certain investments, which was contributed to BHE GT&S. The Buyer now owns an aggregate of 75% of the limited partner interests, and its affiliate, Cove Point GP Holding Company, LLC, continues to own 100% of the general partner interest, of Cove Point. Prior to the Transaction, BHE owned 100% of the general partner interest and 25% of the limited partner interests in Cove Point. BHE previously determined it has the power to direct the activities that most significantly impact Cove Point's economic performance as well as the obligation to absorb losses and benefits which could be significant to it and accordingly, consolidated Cove Point. Because BHE controls Cove Point both before and after the Transaction, the changes in BHE's ownership interest in Cove Point were accounted for as an equity transaction and no gain or loss was recognized. In connection with the Transaction, BHE recognized $120 million of income taxes in equity primarily attributable to the step up in tax basis of the investment in Cove Point of $144 million, partially offset by establishing additional regulatory liabilities related to excess deferred income taxes of $24 million. |
EEGH | |
Business Acquisition [Line Items] | |
Business Acquisitions | Business AcquisitionsOn September 1, 2023, BHE and Eastern MLP Holding Company II, LLC ("the Buyer"), a wholly owned subsidiary of Eastern Energy Gas, completed the acquisition of DECP Holdings, Inc.'s (the "Seller"), an indirect wholly owned subsidiary of Dominion Energy, Inc., 50% limited partner interests in Cove Point ("The Transaction"). Under the terms of the Purchase and Sale Agreement, dated July 9, 2023 (the "Purchase Agreement"), the Buyer paid $3.3 billion in cash, plus the pro rata portion of the quarterly distribution made by Cove Point for the third fiscal quarter of 2023. Eastern Energy Gas funded the Transaction through cash provided by BHE GT&S, LLC, which included an equity contribution of $2.9 billion and the repayment of affiliated notes of $474 million. The Buyer now owns an aggregate of 75% of the limited partner interests, and its affiliate, Cove Point GP Holding Company, LLC, continues to own 100% of the general partner interest, of Cove Point. Prior to the Transaction, Eastern Energy Gas owned 100% of the general partner interest and 25% of the limited partner interests in Cove Point. Eastern Energy Gas previously determined it has the power to direct the activities that most significantly impact Cove Point's economic performance as well as the obligation to absorb losses and benefits which could be significant to it and accordingly, consolidated Cove Point. Because Eastern Energy Gas controls Cove Point both before and after the Transaction, the changes in Eastern Energy Gas' ownership interest in Cove Point were accounted for as an equity transaction and no gain or loss was recognized. In connection with the Transaction, Eastern Energy Gas recognized $120 million of income taxes in equity primarily attributable to the step up in tax basis of the investment in Cove Point of $144 million, partially offset by establishing additional regulatory liabilities related to excess deferred income taxes of $24 million. |
Cash and Cash Equivalents and R
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | 9 Months Ended |
Sep. 30, 2023 | |
PAC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist substantially of funds representing vendor retention, nuclear decommissioning and custodial funds. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 98 $ 641 Restricted cash and cash equivalents included in other current assets 11 7 Restricted cash included in other assets 36 26 Total cash and cash equivalents and restricted cash and cash equivalents $ 145 $ 674 |
MEC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist substantially of funds restricted for wildlife preservation. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 700 $ 258 Restricted cash and cash equivalents in other current assets 9 10 Total cash and cash equivalents and restricted cash and cash equivalents $ 709 $ 268 |
MidAmerican Funding, LLC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist substantially of funds restricted for wildlife preservation. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 700 $ 261 Restricted cash and cash equivalents in other current assets 9 10 Total cash and cash equivalents and restricted cash and cash equivalents $ 709 $ 271 |
NPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist of funds restricted by the Public Utilities Commission of Nevada ("PUCN") for a certain renewable energy contract. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 44 $ 43 Restricted cash and cash equivalents included in other current assets 16 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 60 $ 60 |
SPPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist of funds restricted by the Public Utilities Commission of Nevada ("PUCN") for a certain renewable energy contract. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 39 $ 49 Restricted cash and cash equivalents included in other current assets 7 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 46 $ 56 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 9 Months Ended |
Sep. 30, 2023 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of Depreciable September 30, December 31, Life 2023 2022 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 93,667 $ 92,759 Interstate natural gas pipeline assets 3-80 years 18,800 18,328 112,467 111,087 Accumulated depreciation and amortization (35,752) (34,599) Regulated assets, net 76,715 76,488 Nonregulated assets: Independent power plants 2-50 years 8,461 8,545 Cove Point LNG facility 40 years 3,415 3,412 Other assets 2-30 years 2,792 2,693 14,668 14,650 Accumulated depreciation and amortization (3,703) (3,452) Nonregulated assets, net 10,965 11,198 87,680 87,686 Construction work-in-progress 8,947 5,357 Property, plant and equipment, net $ 96,627 $ 93,043 Construction work-in-progress includes $8.4 billion as of September 30, 2023 and $4.9 billion as of December 31, 2022, related to the construction of regulated assets. |
PAC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of September 30, December 31, Depreciable Life 2023 2022 Utility plant: Generation 15 - 59 years $ 13,814 $ 13,726 Transmission 60 - 90 years 8,140 8,051 Distribution 20 - 75 years 8,840 8,477 Intangible plant (1) and other 5 - 75 years 2,810 2,755 Utility plant in-service 33,604 33,009 Accumulated depreciation and amortization (11,649) (11,093) Utility plant in-service, net 21,955 21,916 Nonregulated, net of accumulated depreciation and amortization 14 - 95 years 18 18 21,973 21,934 Construction work-in-progress 4,126 2,496 Property, plant and equipment, net $ 26,099 $ 24,430 (1) Computer software costs included in intangible plant are initially assigned a depreciable life of 5 to 10 years. |
MEC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of September 30, December 31, Depreciable Life 2023 2022 Utility plant: Generation 20-62 years $ 17,550 $ 18,582 Transmission 55-80 years 2,758 2,662 Electric distribution 15-80 years 5,163 4,931 Natural gas distribution 30-75 years 2,239 2,144 Utility plant in-service 27,710 28,319 Accumulated depreciation and amortization (7,674) (8,024) Utility plant in-service, net 20,036 20,295 Nonregulated property, net of accumulated depreciation and amortization 20-50 years 6 6 20,042 20,301 Construction work-in-progress 1,479 790 Property, plant and equipment, net $ 21,521 $ 21,091 Under a revenue sharing arrangement in Iowa, MidAmerican Energy accrues throughout the year a regulatory liability based on the extent to which its anticipated annual equity return exceeds specified thresholds, with an equal amount recorded in depreciation and amortization expense. The annual regulatory liability accrual reduces utility plant upon final determination of the amount. For the nine-month periods ended September 30, 2023 and 2022, $12 million and $211 million, respectively, is reflected in depreciation and amortization expense on the Statements of Operations. |
MidAmerican Funding, LLC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, NetRefer to Note 3 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of Depreciable Life September 30, December 31, 2023 2022 Utility plant: Generation 30 - 55 years $ 4,113 $ 3,977 Transmission 45 - 70 years 1,585 1,562 Distribution 20 - 65 years 4,365 4,134 General and intangible plant 5 - 65 years 902 871 Utility plant 10,965 10,544 Accumulated depreciation and amortization (3,797) (3,624) Utility plant, net 7,168 6,920 Nonregulated, net of accumulated depreciation and amortization 45 years 1 1 7,169 6,921 Construction work-in-progress 1,100 485 Property, plant and equipment, net $ 8,269 $ 7,406 |
SPPC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of Depreciable Life September 30, December 31, 2023 2022 Utility plant: Electric generation 25 - 70 years $ 1,298 $ 1,298 Electric transmission 50 - 76 years 1,000 993 Electric distribution 20 - 76 years 2,034 1,983 Electric general and intangible plant 5 - 65 years 227 219 Natural gas distribution 35 - 70 years 470 455 Natural gas general and intangible plant 5 - 65 years 17 15 Common general 5 - 65 years 386 380 Utility plant 5,432 5,343 Accumulated depreciation and amortization (2,072) (1,992) 3,360 3,351 Construction work-in-progress 385 236 Property, plant and equipment, net $ 3,745 $ 3,587 During 2022, Sierra Pacific revised its electric and gas depreciation rates effective January 2023 based on the results of a new depreciation study, the most significant impact of which was shorter average service lives for intangible software. The net effect of this change along with various changes to the average service lives of other utility plant groups will increase depreciation and amortization expense by $19 million annually based on depreciable plant balances at the time of the change. |
EEGH | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of September 30, December 31, Depreciable Life 2023 2022 Utility plant: Interstate natural gas transmission and storage assets 21 - 51 years $ 9,197 $ 8,922 Intangible plant 5 - 17 years 117 113 Utility plant in-service 9,314 9,035 Accumulated depreciation and amortization (3,162) (3,039) Utility plant in-service, net 6,152 5,996 Nonutility plant: LNG facility 40 years 4,525 4,522 Intangible plant 14 years 25 25 Nonutility plant 4,550 4,547 Accumulated depreciation and amortization (634) (542) Nonutility plant, net 3,916 4,005 10,068 10,001 Construction work-in-progress 276 201 Property, plant and equipment, net $ 10,344 $ 10,202 Construction work-in-progress includes $260 million and $181 million as of September 30, 2023 and December 31, 2022, respectively, related to the construction of utility plant. Assignment of Shale Development Rights In June 2023, Eastern Gas Transmission and Storage, Inc. ("EGTS") conveyed development rights to a natural gas producer for approximately 6,500 acres of Utica Shale and Point Pleasant Formation underneath one of its natural gas storage fields and received proceeds of $8 million and an overriding royalty interest in gas produced from the acreage. This transaction resulted in an $8 million ($6 million after-tax) gain, included in operations and maintenance expense in its Consolidated Statements of Operations. |
EGTS | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of September 30, December 31, Depreciable Life 2023 2022 Interstate natural gas transmission and storage assets 28 - 50 years $ 6,946 $ 6,724 Intangible plant 12 - 19 years 81 79 Plant in-service 7,027 6,803 Accumulated depreciation and amortization (2,533) (2,440) 4,494 4,363 Construction work-in-progress 205 141 Property, plant and equipment, net $ 4,699 $ 4,504 Assignment of Shale Development Rights In June 2023, EGTS conveyed development rights to a natural gas producer for approximately 6,500 acres of Utica Shale and Point Pleasant Formation underneath one of its natural gas storage fields and received proceeds of $8 million and an overriding royalty interest in gas produced from the acreage. This transaction resulted in an $8 million ($6 million after-tax) gain, included in operations and maintenance expense in its Consolidated Statements of Operations. |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2023 | |
EEGH | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory MattersIn September 2021, EGTS filed a general rate case for its FERC-jurisdictional services, with proposed rates to be effective November 1, 2021. EGTS proposed an annual cost-of-service of approximately $1.1 billion, and requested increases in various rates, including general system storage rates by 85% and general system transmission rates by 60%. In October 2021, the FERC issued an order that accepted the November 1, 2021 effective date for certain changes in rates, while suspending the other changes for five months following the proposed effective date, until April 1, 2022, subject to refund. In September 2022, a settlement agreement was filed with the FERC, which provided for increased service rates and decreased depreciation rates. Under the terms of the settlement agreement, EGTS' rates result in an increase to annual firm transmission and storage services revenues of approximately $160 million and a decrease in annual depreciation expense of approximately $30 million, compared to the rates in effect prior to April 1, 2022. EGTS' provision for rate refund for April 2022 through February 2023, including accrued interest, totaled $91 million. In November 2022, the FERC approved the settlement agreement and the rate refunds to customers were processed in late February 2023. |
EGTS | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory MattersIn September 2021, EGTS filed a general rate case for its FERC-jurisdictional services, with proposed rates to be effective November 1, 2021. EGTS proposed an annual cost-of-service of approximately $1.1 billion, and requested increases in various rates, including general system storage rates by 85% and general system transmission rates by 60%. In October 2021, the FERC issued an order that accepted the November 1, 2021 effective date for certain changes in rates, while suspending the other changes for five months following the proposed effective date, until April 1, 2022, subject to refund. In September 2022, a settlement agreement was filed with the FERC, which provided for increased service rates and decreased depreciation rates. Under the terms of the settlement agreement, EGTS' rates result in an increase to annual firm transmission and storage services revenues of approximately $160 million and a decrease in annual depreciation expense of approximately $30 million, compared to the rates in effect prior to April 1, 2022. EGTS' provision for rate refund for April 2022 through February 2023, including accrued interest, totaled $91 million. In November 2022, the FERC approved the settlement agreement and the rate refunds to customers were processed in late February 2023. |
Investments and Restricted Cash
Investments and Restricted Cash and Cash Equivalents and Investments | 9 Months Ended |
Sep. 30, 2023 | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Investments and Restricted Cash and Cash Equivalents and Investments | Investments and Restricted Cash and Cash Equivalents and Investments Investments and restricted cash and cash equivalents and investments consists of the following (in millions): As of September 30, December 31, 2023 2022 Investments: BYD Company Limited common stock $ 2,794 $ 3,763 U.S. Treasury Bills 627 1,931 Rabbi trusts 461 433 Other 327 335 Total investments 4,209 6,462 Equity method investments: BHE Renewables tax equity investments 4,180 4,535 Electric Transmission Texas, LLC 670 623 Iroquois Gas Transmission System, L.P. 582 600 Other 376 304 Total equity method investments 5,808 6,062 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 706 664 Other restricted cash and cash equivalents 336 226 Total restricted cash and cash equivalents and investments 1,042 890 Total investments and restricted cash and cash equivalents and investments $ 11,059 $ 13,414 Reflected as: Other current assets $ 955 $ 2,141 Noncurrent assets 10,104 11,273 Total investments and restricted cash and cash equivalents and investments $ 11,059 $ 13,414 Investments (Losses) gains on marketable securities, net recognized during the period consists of the following (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Unrealized (losses) gains recognized on marketable securities held at the reporting date $ (97) $ (3,168) $ 573 $ (2,002) Net gains (losses) recognized on marketable securities sold during the period 21 (102) 353 3 (Losses) gains on marketable securities, net $ (76) $ (3,270) $ 926 $ (1,999) Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist substantially of funds restricted for debt service obligations for certain of the Company's nonregulated renewable energy projects. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 2,047 $ 1,591 Investments and restricted cash and cash equivalents 283 173 Investments and restricted cash and cash equivalents and investments 53 53 Total cash and cash equivalents and restricted cash and cash equivalents $ 2,383 $ 1,817 |
EEGH | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Investments and Restricted Cash and Cash Equivalents and Investments | Investments and Restricted Cash and Cash Equivalents Investments and restricted cash and cash equivalents consists of the following (in millions): As of September 30, December 31, 2023 2022 Investments: Investment funds $ 18 $ 14 Equity method investments: Iroquois 246 264 Total investments 264 278 Restricted cash and cash equivalents: Customer deposits 31 30 Total restricted cash and cash equivalents 31 30 Total investments and restricted cash and cash equivalents $ 295 $ 308 Reflected as: Other current assets $ 31 $ 30 Noncurrent assets 264 278 Total investments and restricted cash and cash equivalents $ 295 $ 308 Equity Method Investments Eastern Energy Gas, through subsidiaries, owns 50% of Iroquois, which owns and operates an interstate natural gas transmission system located in the states of New York and Connecticut. As of September 30, 2023 and December 31, 2022, the carrying amount of Eastern Energy Gas' investments exceeded its share of underlying equity in net assets by $130 million. The difference reflects equity method goodwill and is not being amortized. Eastern Energy Gas received distributions from its investments of $59 million and $34 million for the nine-month periods ended September 30, 2023 and 2022, respectively. In the third quarter of 2022, in connection with the settlement of regulated tax matters in the Iroquois rate case, Eastern Energy Gas released a long-term regulatory liability and recognized a $45 million benefit that was recorded in equity income (loss) in its Consolidated Statements of Operations. Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist of customer deposits as allowed under the FERC gas tariffs. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 94 $ 65 Restricted cash and cash equivalents included in other current assets 31 30 Total cash and cash equivalents and restricted cash and cash equivalents $ 125 $ 95 |
EGTS | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Investments and Restricted Cash and Cash Equivalents and Investments | Investments and Restricted Cash and Cash Equivalents Investments and restricted cash and cash equivalents consists of the following (in millions): As of September 30, December 31, 2023 2022 Investments: Investment funds $ 18 $ 14 Restricted cash and cash equivalents: Customer deposits 29 29 Total restricted cash and cash equivalents 29 29 Total investments and restricted cash and cash equivalents $ 47 $ 43 Reflected as: Current assets $ 29 $ 29 Noncurrent assets 18 14 Total investments and restricted cash and cash equivalents $ 47 $ 43 Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist of customer deposits as allowed under the FERC gas tariff. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 12 $ 16 Restricted cash and cash equivalents 29 29 Total cash and cash equivalents and restricted cash and cash equivalents $ 41 $ 45 |
Recent Financing Transactions
Recent Financing Transactions | 9 Months Ended |
Sep. 30, 2023 | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In October 2023, AltaLink, L.P. issued C$500 million of its 5.463% Senior Secured Notes due October 2055 and intends to use the net proceeds to repay its short-term indebtedness. In September 2023, MidAmerican Energy issued $350 million of its 5.35% First Mortgage Bonds due January 2034 and $1 billion of its 5.850% First Mortgage Bonds due September 2054. MidAmerican Energy intends, within 24 months of the issuance date, to allocate an amount equal to the net proceeds to finance or refinance, in whole or in part, new or existing investments or expenditures made in one or more eligible projects in alignment with BHE's Green Financing Framework. In September 2023, Nevada Power issued $500 million of its 6.00% General and Refunding Mortgage Bonds, Series 2023A, due March 2054. Nevada Power used the net proceeds to repay its term loan due January 14, 2024 and short-term borrowings outstanding under Nevada Power's revolving credit facility, fund capital expenditures and for general corporate purposes. In September 2023, Sierra Pacific issued $400 million of its 5.90% General and Refunding Mortgage Bonds, Series 2023A, due March 2054. Sierra Pacific used the net proceeds to repay short-term borrowings incurred under Sierra Pacific's revolving credit facility in connection with the redemption in August 2023 of its 3.375% General and Refunding Mortgage Notes, Series T, due 2023, fund capital expenditures and for general corporate purposes. In May 2023, PacifiCorp issued $1.2 billion of its 5.50% First Mortgage Bonds due May 2054. PacifiCorp intends, within 24 months of the issuance date, to allocate an amount equal to the net proceeds to finance or refinance, in whole or in part, new or existing investments or expenditures made in one or more eligible projects in alignment with BHE's Green Financing Framework. Credit Facilities In June 2023, BHE amended its existing $3.5 billion unsecured credit facility expiring in June 2025. The amendment extended the expiration date to June 2026. In June 2023, PacifiCorp amended its existing $1.2 billion unsecured credit facility expiring in June 2025. The amendment increased the lender commitment to $2.0 billion and extended the expiration date to June 2026. Additionally, in June 2023, PacifiCorp terminated its existing $800 million 364-day unsecured credit facility expiring in January 2024. In June 2023, MidAmerican Energy amended its existing $1.5 billion unsecured credit facility expiring in June 2025. The amendment extended the expiration date to June 2026. In June 2023, Nevada Power and Sierra Pacific each amended its existing $400 million and $250 million secured credit facilities expiring in June 2025. The amendments increased the commitment of the lenders to $600 million and $400 million, respectively, and extended the expiration date to June 2026. In April 2023, AltaLink Investments, L.P. extended, with lender consent, the expiration date for its existing C$200 million one year revolving credit facility to April 2024, by exercising a one-year extension option. |
PAC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In May 2023, PacifiCorp issued $1.2 billion of its 5.50% First Mortgage Bonds due May 2054. PacifiCorp intends, within 24 months of the issuance date, to allocate an amount equal to the net proceeds to finance or refinance, in whole or in part, new or existing investments or expenditures made in one or more eligible projects in alignment with BHE's Green Financing Framework. Credit Facilities In June 2023, PacifiCorp amended its existing $1.2 billion unsecured credit facility expiring in June 2025. The amendment increased the lender commitment to $2.0 billion and extended the expiration date to June 2026. Additionally, in June 2023, PacifiCorp terminated its existing $800 million 364-day unsecured credit facility expiring in January 2024. Common Shareholders' Equity In January 2023, PacifiCorp declared a common stock dividend of $300 million, paid in February 2023, to PPW Holdings LLC. |
MEC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In September 2023, MidAmerican Energy issued $350 million of its 5.35% First Mortgage Bonds due January 2034 and $1 billion of its 5.850% First Mortgage Bonds due September 2054. MidAmerican Energy intends, within 24 months of the issuance date, to allocate an amount equal to the net proceeds to finance or refinance, in whole or in part, new or existing investments or expenditures made in one or more eligible projects in alignment with BHE's Green Financing Framework. Credit Facilities In June 2023, MidAmerican Energy amended its existing $1.5 billion unsecured credit facility expiring in June 2025. The amendment extended the expiration date to June 2026. |
MidAmerican Funding, LLC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Refer to Note 4 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In September 2023, Nevada Power issued $500 million of its 6.000% General and Refunding Mortgage Bonds, Series 2023A, due March 2054. Nevada Power used the net proceeds to repay its term loan due January 14, 2024 and short-term borrowings outstanding under Nevada Power's revolving credit facility, fund capital expenditures and for general corporate purposes. In March 2023, Nevada Power repurchased and entered into a re-offering of the following series of fixed-rate tax-exempt bonds: $40 million of its Coconino County, Arizona Pollution Control Corporation Revenue Bonds, Series 2017A, due 2032; $13 million of its Coconino County, Arizona Pollution Control Corporation Revenue Bonds, Series 2017B, due 2039; and $40 million of its Clark County, Nevada Revenue Bonds, Series 2017, due 2036. The Coconino Series 2017A bond was offered at a fixed rate of 4.125% and the Coconino Series 2017B and Clark Series 2017 bonds were offered at a fixed rate of 3.750%. Credit Facilities In June 2023, Nevada Power amended its existing $400 million secured credit facility expiring in June 2025. The amendment increased the commitment of the lenders to $600 million and extended the expiration date to June 2026. |
SPPC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In September 2023, Sierra Pacific issued $400 million of its 5.900% General and Refunding Mortgage Bonds, Series 2023A, due March 2054. Sierra Pacific used the net proceeds to repay short-term borrowings incurred under Sierra Pacific's revolving credit facility in connection with the redemption in August 2023 of its 3.375% General and Refunding Mortgage Notes, Series T, due 2023, fund capital expenditures and for general corporate purposes. Credit Facilities In June 2023, Sierra Pacific amended its existing $250 million secured credit facility expiring in June 2025. The amendment increased the commitment of the lenders to $400 million and extended the expiration date to June 2026. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2023 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes The effective income tax rate for the three-month period ended September 30, 2023, is 532% and results from a $777 million income tax benefit associated with a $146 million pre-tax loss, primarily related to increases in wildfire loss accruals, net of expected insurance recoveries of $1,263 million as described in Note 11. The $777 million benefit is primarily comprised of a $558 million benefit (382%) from income tax credits, an $82 million benefit (56%) from effects of ratemaking, and a $65 million benefit (44%) from state income tax. The effective income tax rate for the three-month period ended September 30, 2022, is 64% and results from a $1,213 million income tax benefit associated with a $1,895 million pre-tax loss, primarily relating to a pre-tax loss of $3,259 million on the Company's investment in BYD Company Limited. The $1,213 million income tax benefit is primarily comprised of a $398 million benefit (21%) from the application of the federal statutory income tax rate to the pre-tax loss and a $680 million benefit (36%) from income tax credits. A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income (loss) before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits 382 36 (67) (165) State income tax, net of federal income tax impacts 44 — (5) (2) Income tax effect of foreign income 9 — 1 (4) Effects of ratemaking 56 5 (8) (18) Equity income 9 — (2) (4) Noncontrolling interest 11 2 (4) (9) Other, net — — 1 3 Effective income tax rate 532 % 64 % (63) % (178) % Income tax credits relate primarily to production tax credits ("PTCs") from wind- and solar-powered generating facilities owned by MidAmerican Energy, PacifiCorp and BHE Renewables. Federal renewable electricity PTCs are earned as energy from qualifying wind- and solar-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. Wind- and solar-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs recognized for the nine-month periods ended September 30, 2023 and 2022 totaled $1,258 million and $1,414 million, respectively. The Company's provision for income taxes has been computed on a stand-alone basis. Berkshire Hathaway includes the Company in its consolidated U.S. federal and Iowa state income tax returns and the majority of the Company's U.S. federal income tax is remitted to or received from Berkshire Hathaway. The Company received net cash payments for federal income taxes from Berkshire Hathaway for the nine-month periods ended September 30, 2023 and 2022 totaling $1,000 million and $1,742 million, respectively. In July 2022, the Company amended its tax allocation agreement with Berkshire Hathaway, which changed how state tax attributes will be settled with respect to state income tax returns that Berkshire Hathaway includes the Company. As a result, the Company no longer expects to receive the cash benefits from the state of Iowa net operating loss carryforward previously recorded as a long-term income tax receivable from Berkshire Hathaway as a component of BHE's shareholders' equity, and recognized a noncash distribution of $744 million to retained earnings. |
PAC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes The effective income tax rate for the three-month period ended September 30, 2023, is 35% and results from a $345 million income tax benefit associated with a $997 million pre-tax loss, primarily related to increases in wildfire loss accruals, net of expected insurance recoveries of $1,263 million as described in Note 9. The $345 million income tax benefit is primarily comprised of a $210 million benefit (21%) from the application of the federal statutory income tax rate to the pre-tax loss, a $64 million benefit (6%) from federal income tax credits, a $37 million benefit (4%) from state income tax and a $36 million benefit (4%) from effects of ratemaking. The effective income tax rate for the nine-month period ended September 30, 2023 is 42% and results from a $485 million income tax benefit associated with a $1,151 million pre-tax loss, primarily related to increases in wildfire loss accruals, net of expected insurance recoveries of $1,671 million as described in Note 9. The $485 million income tax benefit is primarily comprised of a $242 million benefit (21%) from the application of the federal statutory income tax rate to the pre-tax loss, a $119 million benefit (10%) from federal income tax credits, a $70 million benefit (6%) from effects of ratemaking and a $44 million benefit (4%) from state income tax. A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income (loss) before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit 4 4 4 4 Federal income tax credits 6 (22) 10 (22) Effects of ratemaking (1) 4 (13) 6 (12) Valuation allowance — — 1 1 Other — — — 1 Effective income tax rate 35 % (10) % 42 % (7) % (1) Effects of ratemaking is primarily attributable to activity associated with excess deferred income taxes. Income tax credits relate primarily to production tax credits ("PTC") from PacifiCorp's wind-powered generating facilities. Federal renewable electricity PTCs are earned as energy from qualifying wind-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. Wind-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs recognized for the three-month periods ended September 30, 2023 and 2022, totaled $64 million and $83 million, respectively. PTCs recognized for the nine-month periods ended September 30, 2023 and 2022, totaled $119 million and $127 million, respectively. For the nine-month period ended September 30, 2023, PacifiCorp released an $11 million valuation allowance related to state net operating loss carryforwards. For the nine-month period ended September 30, 2022, PacifiCorp recorded an $8 million valuation allowance related to state net operating loss carryforwards. Berkshire Hathaway includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, PacifiCorp's provision for federal and state income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For the nine-month periods ended September 30, 2023 and 2022, PacifiCorp received net cash payments for federal and state income tax from BHE totaling $255 million and $194 million, respectively. As of September 30, 2023, net income taxes payable to BHE were $12 million. As of December 31, 2022, net income taxes receivable from BHE were $84 million. |
MEC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to MidAmerican Energy's effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (47) (69) (142) (222) State income tax, net of federal income tax impacts (8) (21) (9) (21) Effects of ratemaking (5) (13) (5) (12) Other, net (1) 3 (1) 1 Effective income tax rate (40) % (79) % (136) % (233) % Income tax credits relate primarily to production tax credits ("PTC") from MidAmerican Energy's wind- and solar-powered generating facilities. Federal renewable electricity PTCs are earned as energy from qualifying wind- and solar-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. MidAmerican Energy recognizes its renewable electricity PTCs throughout the year based on when the credits are earned and excludes them from the annual effective tax rate that is the basis for the interim recognition of the remaining income tax expense. Wind- and solar-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs recognized for the nine-month periods ended September 30, 2023 and 2022, totaled $484 million and $505 million, respectively. Berkshire Hathaway includes BHE and subsidiaries in its U.S. federal and Iowa state income tax returns. Consistent with established regulatory practice, MidAmerican Energy's provision for income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. MidAmerican Energy received net cash payments for income tax from BHE totaling $698 million and $757 million for the nine-month periods ended September 30, 2023 and 2022, respectively. |
MidAmerican Funding, LLC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to MidAmerican Funding's effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (48) (72) (142) (238) State income tax, net of federal income tax impacts (8) (22) (9) (24) Effects of ratemaking (5) (13) (5) (13) Other, net (1) 2 (1) 3 Effective income tax rate (41) % (84) % (136) % (251) % Income tax credits relate primarily to production tax credits ("PTC") from MidAmerican Energy's wind- and solar-powered generating facilities. Federal renewable electricity PTCs are earned as energy from qualifying wind- and solar-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. MidAmerican Funding recognizes its renewable electricity PTCs throughout the year based on when the credits are earned and excludes them from the annual effective tax rate that is the basis for the interim recognition of the remaining income tax expense. Wind- and solar-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs recognized for the nine-month periods ended September 30, 2023 and 2022, totaled $484 million and $505 million, respectively. Berkshire Hathaway includes BHE and subsidiaries in its U.S. federal and Iowa state income tax returns. Consistent with established regulatory practice, MidAmerican Funding's and MidAmerican Energy's provisions for income tax have been computed on a stand-alone basis, and substantially all of their currently payable or receivable income tax is remitted to or received from BHE. MidAmerican Funding received net cash payments for income tax from BHE totaling $700 million and $761 million for the nine-month periods ended September 30, 2023 and 2022, respectively. |
NPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (12) (10) (12) (10) Effective income tax rate 9 % 11 % 9 % 11 % Effects of ratemaking is primarily attributable to the recognition of excess deferred income taxes related to 2017 tax reform pursuant to an order issued by the PUCN effective January 1, 2021. |
SPPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (8) (8) (8) (8) Other 1 (1) — — Effective income tax rate 14 % 12 % 13 % 13 % Effects of ratemaking is primarily attributable to the recognition of excess deferred income taxes related to 2017 tax reform pursuant to an order issued by the PUCN effective January 1, 2020. Berkshire Hathaway includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, Sierra Pacific's provision for federal income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For the nine-month period ended September 30, 2023, Sierra Pacific made net cash payments for federal income tax to BHE totaling $54 million. For the nine-month period ended September 30, 2022, Sierra Pacific made no cash payments for federal income tax to BHE. |
EEGH | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit (8) 6 (1) 5 Equity interest 1 4 1 2 Effects of ratemaking — — — (1) Noncontrolling interest (10) (10) (10) (10) Other, net (1) — — — Effective income tax rate 3 % 21 % 11 % 17 % For the period ended September 30, 2023, Eastern Energy Gas' reconciliation of the federal statutory income tax rate to the effective income tax rate is driven primarily by the change in the state apportionment and its impact on Eastern Energy Gas' deferred tax liability, as well as the Transaction's impact on certain combined state filing adjustments. An additional rate driver was the absence of tax on income attributable to Cove Point's 25% noncontrolling interest. Berkshire Hathaway includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, Eastern Energy Gas' provision for federal and state income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For current federal and state income taxes, Eastern Energy Gas had a receivable from BHE of $241 million and $16 million as of September 30, 2023 and December 31, 2022, respectively. The increase in the income tax receivable is primarily due to the bonus deprecation deduction being taken on the step-up of tax basis on non-regulated assets as a result of the Transaction. |
EGTS | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit 6 11 5 8 Other, net — 1 — — Effective income tax rate 27 % 33 % 26 % 29 % |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2023 | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Domestic Operations Net periodic benefit cost (credit) for the domestic pension and other postretirement benefit plans included the following components (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Pension: Service cost $ 3 $ 7 $ 12 $ 20 Interest cost 27 20 82 58 Expected return on plan assets (30) (28) (92) (82) Settlement — — (5) 2 Net amortization 4 4 11 13 Net periodic benefit cost $ 4 $ 3 $ 8 $ 11 Other postretirement: Service cost $ 3 $ 2 $ 6 $ 8 Interest cost 8 5 22 15 Expected return on plan assets (7) (8) (25) (22) Net amortization (1) — (2) (1) Net periodic benefit cost (credit) $ 3 $ (1) $ 1 $ — Amounts other than the service cost for pension and other postretirement benefit plans are recorded in other, net on the Consolidated Statements of Operations. Employer contributions to the domestic pension and other postretirement benefit plans are expected to be $13 million and $7 million, respectively, during 2023. As of September 30, 2023, $10 million and $5 million of contributions had been made to the domestic pension and other postretirement benefit plans, respectively. Foreign Operations Net periodic benefit cost (credit) for the United Kingdom pension plan included the following components (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Service cost $ 2 $ 3 $ 5 $ 10 Interest cost 14 8 42 27 Expected return on plan assets (20) (22) (60) (70) Net amortization 7 6 20 18 Net periodic benefit cost (credit) $ 3 $ (5) $ 7 $ (15) Amounts other than the service cost for the United Kingdom pension plan are recorded in other, net on the Consolidated Statements of Operations. Employer contributions to the United Kingdom pension plan are expected to be £11 million during 2023. As of September 30, 2023, £8 million, or $10 million, of contributions had been made to the United Kingdom pension plan. |
PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Net periodic benefit cost (credit) for the pension and other postretirement benefit plans included the following components (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Pension: Interest cost $ 10 $ 8 $ 29 $ 22 Expected return on plan assets (12) (11) (36) (32) Net amortization 3 4 9 12 Net periodic benefit cost $ 1 $ 1 $ 2 $ 2 Other postretirement: Service cost $ — $ — $ 1 $ 1 Interest cost 3 2 8 6 Expected return on plan assets (3) (3) (10) (8) Net amortization (1) 1 (2) 1 Net periodic benefit credit $ (1) $ — $ (3) $ — |
MEC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans MidAmerican Energy sponsors a noncontributory defined benefit pension plan covering a majority of all employees of BHE and its domestic energy subsidiaries other than PacifiCorp and NV Energy, Inc. MidAmerican Energy also sponsors certain postretirement healthcare and life insurance benefits covering substantially all retired employees of BHE and its domestic energy subsidiaries other than PacifiCorp and NV Energy, Inc. Net periodic benefit cost (credit) for the plans of MidAmerican Energy and the aforementioned affiliates included the following components (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Pension: Service cost $ 2 $ 5 $ 8 $ 14 Interest cost 8 5 24 15 Expected return on plan assets (7) (7) (23) (21) Settlement — — (5) 2 Net amortization — — — 1 Net periodic benefit cost $ 3 $ 3 $ 4 $ 11 Other postretirement: Service cost $ 2 $ 2 $ 4 $ 6 Interest cost 4 2 10 6 Expected return on plan assets (3) (4) (11) (11) Net amortization — (1) — (2) Net periodic benefit cost (credit) $ 3 $ (1) $ 3 $ (1) Amounts other than the service cost for pension and other postretirement benefit plans are recorded in Other, net on the Statements of Operations. Employer contributions to the pension and other postretirement benefit plans during 2023 are expected to be $7 million and $2 million, respectively. As of September 30, 2023, $5 million and $2 million of contributions had been made to the pension and other postretirement benefit plans, respectively. |
MidAmerican Funding, LLC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit PlansRefer to Note 6 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Nevada Power is a participant in benefit plans sponsored by NV Energy. The NV Energy Retirement Plan includes a qualified pension plan ("Qualified Pension Plan") and a supplemental executive retirement plan and a restoration plan (collectively, "Non‑Qualified Pension Plans") that provide pension benefits for eligible employees. The NV Energy Comprehensive Welfare Benefit and Cafeteria Plan provides certain postretirement health care and life insurance benefits for eligible retirees ("Other Postretirement Plans") on behalf of Nevada Power. Amounts attributable to Nevada Power were allocated from NV Energy based upon the current, or in the case of retirees, previous, employment location. Offsetting regulatory assets and liabilities have been recorded related to the amounts not yet recognized as a component of net periodic benefit costs that will be included in regulated rates. Net periodic benefit costs not included in regulated rates are included in accumulated other comprehensive loss, net. Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following (in millions): As of September 30, December 31, 2023 2022 Qualified Pension Plan: Other non-current assets $ 26 $ 27 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (6) (6) Other Postretirement Plans: Other non-current assets 7 7 |
SPPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Sierra Pacific is a participant in benefit plans sponsored by NV Energy. The NV Energy Retirement Plan includes a qualified pension plan ("Qualified Pension Plan") and a supplemental executive retirement plan and a restoration plan (collectively, "Non‑Qualified Pension Plans") that provide pension benefits for eligible employees. The NV Energy Comprehensive Welfare Benefit and Cafeteria Plan provides certain postretirement health care and life insurance benefits for eligible retirees ("Other Postretirement Plans") on behalf of Sierra Pacific. Sierra Pacific contributed $3 million to the Other Post Retirement Plans for the nine-month period ended September 30, 2023. Amounts attributable to Sierra Pacific were allocated from NV Energy based upon the current, or in the case of retirees, previous, employment location. Offsetting regulatory assets and liabilities have been recorded related to the amounts not yet recognized as a component of net periodic benefit costs that will be included in regulated rates. Net periodic benefit costs not included in regulated rates are included in accumulated other comprehensive loss, net. Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following (in millions): As of September 30, December 31, 2023 2022 Qualified Pension Plan: Other non-current assets $ 45 $ 43 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (5) (5) Other Postretirement Plans: Other non-current assets 1 — Other long-term liabilities — (2) |
EEGH | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit PlansEastern Energy Gas is a participant in benefit plans sponsored by MidAmerican Energy Company ("MidAmerican Energy"), an affiliate. The MidAmerican Energy Company Retirement Plan includes a qualified pension plan that provides pension benefits for eligible employees. The MidAmerican Energy Company Welfare Benefit Plan provides certain postretirement health care and life insurance benefits for eligible retirees on behalf of Eastern Energy Gas. Eastern Energy Gas contributed $6 million and $10 million to the MidAmerican Energy Company Retirement Plan for the nine-month periods ended September 30, 2023 and 2022, respectively, and $1 million and $2 million to the MidAmerican Energy Company Welfare Benefit Plan for the nine-month periods ended September 30, 2023 and 2022, respectively. Contributions related to these plans are reflected as net periodic benefit cost in operations and maintenance expense on the Consolidated Statements of Operations. Amounts attributable to Eastern Energy Gas were allocated from MidAmerican Energy in accordance with the intercompany administrative service agreement. Offsetting regulatory assets and liabilities have been recorded related to the amounts not yet recognized as a component of net periodic benefit costs that will be included in regulated rates. Net periodic benefit costs not included in regulated rates are included in accumulated other comprehensive loss, net. As of September 30, 2023 and December 31, 2022, Eastern Energy Gas' amount due to MidAmerican Energy associated with these plans and reflected in other long-term liabilities on the Consolidated Balance Sheets was $51 million. |
EGTS | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans EGTS is a participant in benefit plans sponsored by MidAmerican Energy Company ("MidAmerican Energy"), an affiliate. The MidAmerican Energy Company Retirement Plan includes a qualified pension plan that provides pension benefits for eligible employees. The MidAmerican Energy Company Welfare Benefit Plan provides certain postretirement health care and life insurance benefits for eligible retirees on behalf of EGTS. EGTS contributed $5 million and $9 million to the MidAmerican Energy Company Retirement Plan for the nine-month periods ended September 30, 2023 and 2022, respectively, and $1 million and $2 million to the MidAmerican Energy Company Welfare Benefit Plan for the nine-month periods ended September 30, 2023 and 2022, respectively. Contributions related to these plans are reflected as net periodic benefit cost in operations and maintenance expense on the Consolidated Statements of Operations. Amounts attributable to EGTS were allocated from MidAmerican Energy in accordance with the intercompany administrative service agreement. Offsetting regulatory assets and liabilities have been recorded related to the amounts not yet recognized as a component of net periodic benefit costs that will be included in regulated rates. As of September 30, 2023 and December 31, 2022, EGTS' amount due to MidAmerican Energy associated with these plans and reflected in other long-term liabilities on the Consolidated Balance Sheets was $47 million. |
Asset Retirement Obligations
Asset Retirement Obligations | 9 Months Ended |
Sep. 30, 2023 | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement ObligationsMidAmerican Energy estimates its asset retirement obligation ("ARO") liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of expected work. During the nine-month period ended September 30, 2023, MidAmerican Energy recorded an increase of $88 million for decommissioning its wind-generating facilities, which is a non-cash investing activity and is due to an updated decommissioning estimate reflecting changes in the projected removal costs per turbine. |
MEC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement ObligationsMidAmerican Energy estimates its asset retirement obligation ("ARO") liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of expected work. During the nine-month period ended September 30, 2023, MidAmerican Energy recorded an increase of $88 million for decommissioning its wind-generating facilities, which is a non-cash investing activity and is due to an updated decommissioning estimate reflecting changes in the projected removal costs per turbine. |
MidAmerican Funding, LLC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement ObligationsRefer to Note 7 of MidAmerican Energy's Notes to Financial Statements. |
Risk Management and Hedging Act
Risk Management and Hedging Activities | 9 Months Ended |
Sep. 30, 2023 | |
PAC | |
Derivative [Line Items] | |
Risk Management and Hedging Activities | Risk Management and Hedging Activities PacifiCorp is exposed to the impact of market fluctuations in commodity prices and interest rates. PacifiCorp is principally exposed to electricity, natural gas, coal and fuel oil commodity price risk as it has an obligation to serve retail customer load in its service territories. PacifiCorp's load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity and wholesale electricity that is purchased and sold. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. Interest rate risk exists on variable-rate debt and future debt issuances. PacifiCorp does not engage in a material amount of proprietary trading activities. PacifiCorp has established a risk management process that is designed to identify, assess, manage and report on each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, PacifiCorp uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. PacifiCorp manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed-rate long-term debt and by monitoring market changes in interest rates. Additionally, PacifiCorp may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, to mitigate PacifiCorp's exposure to interest rate risk. No interest rate derivatives were in place during the periods presented. PacifiCorp does not hedge all of its commodity price and interest rate risks, thereby exposing the unhedged portion to changes in market prices. Refer to Note 8 for additional information on derivative contracts. The following table, which reflects master netting arrangements and excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of PacifiCorp's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Derivative Contracts - Other Other Current Other Current Long-term Assets Assets Liabilities Liabilities Total As of September 30, 2023 Not designated as hedging contracts (1) : Commodity assets $ 66 $ 11 $ 5 $ — $ 82 Commodity liabilities (11) (4) (17) — (32) Total 55 7 (12) — 50 Total derivatives 55 7 (12) — 50 Cash collateral (payable) receivable (8) — 5 — (3) Total derivatives - net basis $ 47 $ 7 $ (7) $ — $ 47 As of December 31, 2022 Not designated as hedging contracts (1) : Commodity assets $ 279 $ 27 $ 9 $ 3 $ 318 Commodity liabilities (22) (7) (14) (5) (48) Total 257 20 (5) (2) 270 Total derivatives 257 20 (5) (2) 270 Cash collateral payable (2) (73) (5) — — (78) Total derivatives - net basis $ 184 $ 15 $ (5) $ (2) $ 192 (1) PacifiCorp's commodity derivatives are generally included in rates. As of September 30, 2023, a regulatory liability of $50 million was recorded related to the net derivative asset of $50 million. As of December 31, 2022, a regulatory liability of $270 million was recorded related to the net derivative asset of $270 million. (2) As of December 31, 2022, PacifiCorp had an additional $12 million cash collateral payable that was not required to be netted against total derivatives. The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory (liabilities) assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory (liabilities) assets, as well as amounts reclassified to earnings (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ (9) $ (223) $ (270) $ (53) Changes in fair value recognized in regulatory (liabilities) assets (9) (79) 83 (296) Net gains (losses) reclassified to operating revenue — 7 (8) (4) Net (losses) gains reclassified to energy costs (32) 129 145 187 Ending balance $ (50) $ (166) $ (50) $ (166) Derivative Contract Volumes The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of (in millions): Unit of September 30, December 31, Measure 2023 2022 Electricity purchases, net Megawatt hours 2 2 Natural gas purchases Decatherms 126 127 Credit Risk PacifiCorp is exposed to counterparty credit risk associated with wholesale energy supply and marketing activities with other utilities, energy marketing companies, financial institutions and other market participants. Credit risk may be concentrated to the extent PacifiCorp's counterparties have similar economic, industry or other characteristics and due to direct or indirect relationships among the counterparties. Before entering into a transaction, PacifiCorp analyzes the financial condition of each significant wholesale counterparty, establishes limits on the amount of unsecured credit to be extended to each counterparty and evaluates the appropriateness of unsecured credit limits on an ongoing basis. To further mitigate wholesale counterparty credit risk, PacifiCorp enters into netting and collateral arrangements that may include margining and cross-product netting agreements and obtains third‑party guarantees, letters of credit and cash deposits. If required, PacifiCorp exercises rights under these arrangements, including calling on the counterparty's credit support arrangement. Collateral and Contingent Features In accordance with industry practice, certain wholesale agreements, including derivative contracts, contain credit support provisions that in part base certain collateral requirements on credit ratings for senior unsecured debt as reported by one or more of the recognized credit rating agencies. These agreements may provide bilateral rights to demand cash or other security if credit exposures on a net basis exceed specified rating-dependent threshold levels ("credit-risk-related contingent features"). These agreements and other agreements that do not refer to specified rating-dependent threshold levels may provide the right for counterparties to demand "adequate assurance" if there is a material adverse change in PacifiCorp's creditworthiness. These rights can vary by contract and by counterparty. As of September 30, 2023, PacifiCorp's issuer credit ratings for its senior secured debt and its issuer credit ratings for senior unsecured debt from the recognized credit rating agencies were investment grade. The aggregate fair value of PacifiCorp's derivative contracts in liability positions with specific credit-risk-related contingent features totaled $32 million and $48 million as of September 30, 2023 and December 31, 2022, respectively, for which PacifiCorp had posted collateral of $5 million and $— million, respectively, in the form of cash deposits. If all credit-risk-related contingent features for derivative contracts in liability positions had been triggered as of September 30, 2023 and December 31, 2022, PacifiCorp would have been required to post $7 million and $3 million, respectively, of additional collateral. PacifiCorp's collateral requirements could fluctuate considerably due to market price volatility, changes in credit ratings, changes in legislation or regulation or other factors. |
NPC | |
Derivative [Line Items] | |
Risk Management and Hedging Activities | Risk Management and Hedging Activities Nevada Power is exposed to the impact of market fluctuations in commodity prices and interest rates. Nevada Power is principally exposed to electricity and natural gas market fluctuations primarily through Nevada Power's obligation to serve retail customer load in its regulated service territory. Nevada Power's load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity and wholesale electricity that is purchased and sold. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. The actual cost of fuel and purchased power is recoverable through the deferred energy mechanism. Interest rate risk exists on variable-rate debt and future debt issuances. Nevada Power does not engage in proprietary trading activities. Nevada Power has established a risk management process that is designed to identify, assess, manage and report on each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, Nevada Power uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. Nevada Power manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed-rate long-term debt and by monitoring market changes in interest rates. Additionally, Nevada Power may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, to mitigate Nevada Power's exposure to interest rate risk. Nevada Power does not hedge all of its commodity price and interest rate risks, thereby exposing the unhedged portion to changes in market prices. There have been no significant changes in Nevada Power's accounting policies related to derivatives. Refer to Note 8 for additional information on derivative contracts. The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Nevada Power's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Derivative Other Contracts - Other Current Current Long-term Assets Liabilities Liabilities Total As of September, 30 2023 Not designated as hedging contracts (1) - Total derivatives - commodity liabilities $ — $ (49) $ (9) $ (58) As of December 31, 2022 Not designated as hedging contracts (1) : Commodity assets $ 23 $ — $ — $ 23 Commodity liabilities — (51) (24) (75) Total derivatives - net basis $ 23 $ (51) $ (24) $ (52) (1) Nevada Power's commodity derivatives not designated as hedging contracts are included in regulated rates. As of September 30, 2023 a regulatory asset of $58 million was recorded related to the net derivative liability of $58 million. As of December 31, 2022 a regulatory asset of $52 million was recorded related to the net derivative liability of $52 million. Derivative Contract Volumes The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of (in millions): Unit of September 30, December 31, Measure 2023 2022 Electricity purchases Megawatt hours 1 2 Natural gas purchases Decatherms 162 109 Credit Risk Nevada Power is exposed to counterparty credit risk associated with wholesale energy supply and marketing activities with other utilities, energy marketing companies, financial institutions and other market participants. Credit risk may be concentrated to the extent Nevada Power's counterparties have similar economic, industry or other characteristics and due to direct and indirect relationships among the counterparties. Before entering into a transaction, Nevada Power analyzes the financial condition of each significant wholesale counterparty, establishes limits on the amount of unsecured credit to be extended to each counterparty and evaluates the appropriateness of unsecured credit limits on an ongoing basis. To further mitigate wholesale counterparty credit risk, Nevada Power enters into netting and collateral arrangements that may include margining and cross-product netting agreements and obtain third-party guarantees, letters of credit and cash deposits. If required, Nevada Power exercises rights under these arrangements, including calling on the counterparty's credit support arrangement. Collateral and Contingent Features In accordance with industry practice, certain wholesale agreements, including derivative contracts, contain credit support provisions that in part base certain collateral requirements on credit ratings for senior unsecured debt as reported by one or more of the recognized credit rating agencies. These agreements may either specifically provide bilateral rights to demand cash or other security if credit exposures on a net basis exceed specified rating-dependent threshold levels "credit-risk-related contingent features") or provide the right for counterparties to demand "adequate assurance" if there is a material adverse change in Nevada Power's creditworthiness. These rights can vary by contract and by counterparty. As of September 30, 2023, Nevada Power's credit ratings for its senior secured debt and its issuer credit ratings for senior unsecured debt from the recognized credit rating agencies were investment grade. |
SPPC | |
Derivative [Line Items] | |
Risk Management and Hedging Activities | Risk Management and Hedging Activities Sierra Pacific is exposed to the impact of market fluctuations in commodity prices and interest rates. Sierra Pacific is principally exposed to electricity, natural gas and coal market fluctuations primarily through Sierra Pacific's obligation to serve retail customer load in its regulated service territory. Sierra Pacific's load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity and wholesale electricity that is purchased and sold. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. The actual cost of fuel and purchased power is recoverable through the deferred energy mechanism. Interest rate risk exists on variable-rate debt and future debt issuances. Sierra Pacific does not engage in proprietary trading activities. Sierra Pacific has established a risk management process that is designed to identify, assess, manage and report on each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, Sierra Pacific uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. Sierra Pacific manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed-rate long-term debt and by monitoring market changes in interest rates. Additionally, Sierra Pacific may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, to mitigate Sierra Pacific's exposure to interest rate risk. Sierra Pacific does not hedge all of its commodity price and interest rate risks, thereby exposing the unhedged portion to changes in market prices. There have been no significant changes in Sierra Pacific's accounting policies related to derivatives. Refer to Note 8 for additional information on derivative contracts. The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Sierra Pacific's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Other Other Current Current Long-term Assets Liabilities Liabilities Total As of September, 30 2023 Not designated as hedging contracts (1) - Total derivatives - commodity liabilities $ — $ (11) $ (1) $ (12) As of December 31, 2022 Not designated as hedging contracts (1) : Commodity assets $ 8 $ — $ — $ 8 Commodity liabilities — (14) (7) (21) Total derivatives - net basis $ 8 $ (14) $ (7) $ (13) (1) Sierra Pacific's commodity derivatives not designated as hedging contracts are included in regulated rates. As of September 30, 2023 a net regulatory asset of $12 million was recorded related to the net derivative liability of $12 million. As of December 31, 2022 a net regulatory asset of $13 million was recorded related to the net derivative liability of $13 million. The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of (in millions): Unit of September 30, December 31, Measure 2023 2022 Electricity purchases Megawatt hours — 1 Natural gas purchases Decatherms 70 52 Credit Risk Sierra Pacific is exposed to counterparty credit risk associated with wholesale energy supply and marketing activities with other utilities, energy marketing companies, financial institutions and other market participants. Credit risk may be concentrated to the extent Sierra Pacific's counterparties have similar economic, industry or other characteristics and due to direct and indirect relationships among the counterparties. Before entering into a transaction, Sierra Pacific analyzes the financial condition of each significant wholesale counterparty, establishes limits on the amount of unsecured credit to be extended to each counterparty and evaluates the appropriateness of unsecured credit limits on an ongoing basis. To further mitigate wholesale counterparty credit risk, Sierra Pacific enters into netting and collateral arrangements that may include margining and cross-product netting agreements and obtain third-party guarantees, letters of credit and cash deposits. If required, Sierra Pacific exercises rights under these arrangements, including calling on the counterparty's credit support arrangement. Collateral and Contingent Features In accordance with industry practice, certain wholesale agreements, including derivative contracts, contain credit support provisions that in part base certain collateral requirements on credit ratings for senior unsecured debt as reported by one or more of the recognized credit rating agencies. These agreements may either specifically provide bilateral rights to demand cash or other security if credit exposures on a net basis exceed specified rating-dependent threshold levels ("credit-risk-related contingent features") or provide the right for counterparties to demand "adequate assurance" if there is a material adverse change in Sierra Pacific's creditworthiness. These rights can vary by contract and by counterparty. As of September 30, 2023, Sierra Pacific's credit ratings for its senior secured debt and its issuer credit ratings for senior unsecured debt from the recognized credit rating agencies were investment grade. The aggregate fair value of Sierra Pacific's derivative contracts in liability positions with specific credit-risk-related contingent features totaled $1 million and $— million as of September 30, 2023 and December 31, 2022, respectively, which represents the amount of collateral to be posted if all credit risk related contingent features for derivative contracts in liability positions had been triggered. Sierra Pacific's collateral requirements could fluctuate considerably due to market price volatility, changes in credit ratings, changes in legislation or regulation or other factors. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements The carrying value of the Company's cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. The Company has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: • Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 — Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 — Unobservable inputs reflect the Company's judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. The Company develops these inputs based on the best information available, including its own data. The following table presents the Company's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of September 30, 2023: Assets: Commodity derivatives $ — $ 170 $ 12 $ (37) $ 145 Interest rate derivatives 48 66 9 — 123 Mortgage loans held for sale — 616 — — 616 Money market mutual funds 1,798 — — — 1,798 Debt securities: U.S. government obligations 866 — — — 866 Corporate obligations — 74 — — 74 Municipal obligations — 3 — — 3 Equity securities: U.S. companies 380 — — — 380 International companies 2,802 — — — 2,802 Investment funds 285 — — — 285 $ 6,179 $ 929 $ 21 $ (37) $ 7,092 Liabilities: Commodity derivatives $ (4) $ (45) $ (96) $ 45 $ (100) Foreign currency exchange rate derivatives — (18) — — (18) Interest rate derivatives — — (3) — (3) $ (4) $ (63) $ (99) $ 45 $ (121) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2022: Assets: Commodity derivatives $ 6 $ 614 $ 51 $ (194) $ 477 Interest rate derivatives 50 54 8 — 112 Mortgage loans held for sale — 474 — — 474 Money market mutual funds 1,178 — — — 1,178 Debt securities: U.S. government obligations 2,146 — — — 2,146 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 3,771 — — — 3,771 Investment funds 231 — — — 231 $ 7,742 $ 1,217 $ 59 $ (194) $ 8,824 Liabilities: Commodity derivatives $ (8) $ (206) $ (110) $ 106 $ (218) Foreign currency exchange rate derivatives — (21) — — (21) Interest rate derivatives — (2) (2) 1 (3) $ (8) $ (229) $ (112) $ 107 $ (242) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $8 million as of September 30, 2023 and payable of $87 million as of December 31, 2022. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which the Company transacts. When quoted prices for identical contracts are not available, the Company uses forward price curves. Forward price curves represent the Company's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. The Company bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent brokers, exchanges, direct communication with market participants and actual transactions executed by the Company. Market price quotations are generally readily obtainable for the applicable term of the Company's outstanding derivative contracts; therefore, the Company's forward price curves reflect observable market quotes. Market price quotations for certain electricity and natural gas trading hubs are not as readily obtainable due to the length of the contract. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, the Company uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The estimated fair value of these derivative contracts is a function of the underlying forward commodity prices, interest rates, currency rates, related volatility, counterparty creditworthiness and duration of contracts. The Company's mortgage loans held for sale are valued based on independent quoted market prices, where available, or the prices of other mortgage whole loans with similar characteristics. As necessary, these prices are adjusted for typical securitization activities, including servicing value, portfolio composition, market conditions and liquidity. The Company's investments in money market mutual funds and debt and equity securities are stated at fair value. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. In the absence of a quoted market price or net asset value of an identical security, the fair value is determined using pricing models or net asset values based on observable market inputs and quoted market prices of securities with similar characteristics. The following table reconciles the beginning and ending balances of the Company's financial assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions). Transfers out of Level 3 occur primarily due to increased price observability. Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, Interest Interest Commodity Rate Commodity Rate Derivatives Derivatives Derivatives Derivatives 2023: Beginning balance $ (174) $ 11 $ (59) $ 6 Changes included in earnings (1) (1) (5) 9 — Changes in fair value recognized in OCI — — (3) — Changes in fair value recognized in net regulatory assets (48) — (231) — Purchases 1 — 1 — Settlements 138 — 199 — Ending balance $ (84) $ 6 $ (84) $ 6 2022: Beginning balance $ (178) $ 21 $ (151) $ 19 Changes included in earnings (1) (14) (22) (96) (20) Changes in fair value recognized in OCI 3 — 13 — Changes in fair value recognized in net regulatory assets (5) — (64) — Purchases 1 — 2 — Settlements 138 — 172 — Transfers out of Level 3 into Level 2 — — 69 — Ending balance $ (55) $ (1) $ (55) $ (1) (1) Changes included in earnings for interest rate derivatives are reported net of amounts related to the satisfaction of the associated loan commitment. The Company's long-term debt is carried at cost on the Consolidated Balance Sheets. The fair value of the Company's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of the Company's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of the Company's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 52,720 $ 45,166 $ 51,635 $ 46,906 |
PAC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements The carrying value of PacifiCorp's cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. PacifiCorp has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: • Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that PacifiCorp has the ability to access at the measurement date. • Level 2 — Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 — Unobservable inputs reflect PacifiCorp's judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. PacifiCorp develops these inputs based on the best information available, including its own data. The following table presents PacifiCorp's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of September 30, 2023: Assets: Commodity derivatives $ — $ 82 $ — $ (28) $ 54 Money market mutual funds 120 — — — 120 Investment funds 29 — — — 29 $ 149 $ 82 $ — $ (28) $ 203 Liabilities - Commodity derivatives $ — $ (32) $ — $ 25 $ (7) As of December 31, 2022: Assets: Commodity derivatives $ — $ 318 $ — $ (119) $ 199 Money market mutual funds 649 — — — 649 Investment funds 23 — — — 23 $ 672 $ 318 $ — $ (119) $ 871 Liabilities - Commodity derivatives $ — $ (48) $ — $ 41 $ (7) (1) Represents netting under master netting arrangements and a net cash collateral payable of $3 million and $78 million as of September 30, 2023 and December 31, 2022, respectively. As of December 31, 2022, PacifiCorp had an additional $12 million cash collateral payable that was not required to be netted against total derivatives. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. A discounted cash flow valuation method was used to estimate fair value. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which PacifiCorp transacts. When quoted prices for identical contracts are not available, PacifiCorp uses forward price curves. Forward price curves represent PacifiCorp's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. PacifiCorp bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent energy brokers, exchanges, direct communication with market participants and actual transactions executed by PacifiCorp. Market price quotations for certain major electricity and natural gas trading hubs are generally readily obtainable for the first three years; therefore, PacifiCorp's forward price curves for those locations and periods reflect observable market quotes. Market price quotations for other electricity and natural gas trading hubs are not as readily obtainable for the first three years. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, PacifiCorp uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The estimated fair value of these derivative contracts is a function of underlying forward commodity prices, interest rates, currency rates, related volatility, counterparty creditworthiness and duration of contracts. Refer to Note 7 for further discussion regarding PacifiCorp's risk management and hedging activities. PacifiCorp's investments in money market mutual funds and investment funds are stated at fair value. When available, PacifiCorp uses a readily observable quoted market price or net asset value of an identical security in an active market to record the fair value. In the absence of a quoted market price or net asset value of an identical security, the fair value is determined using pricing models or net asset values based on observable market inputs and quoted market prices of securities with similar characteristics. PacifiCorp's long-term debt is carried at cost on the Consolidated Balance Sheets. The fair value of PacifiCorp's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of PacifiCorp's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of PacifiCorp's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 10,457 $ 8,834 $ 9,666 $ 9,045 |
MEC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements The carrying value of MidAmerican Energy's cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. MidAmerican Energy has various financial assets and liabilities that are measured at fair value on the Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: • Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that MidAmerican Energy has the ability to access at the measurement date. • Level 2 — Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 — Unobservable inputs reflect MidAmerican Energy's judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. MidAmerican Energy develops these inputs based on the best information available, including its own data. The following table presents MidAmerican Energy's financial assets and liabilities recognized on the Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of September 30, 2023: Assets: Commodity derivatives $ — $ 8 $ 2 $ (5) $ 5 Money market mutual funds 707 — — — 707 Debt securities: U.S. government obligations 239 — — — 239 International government obligations — — — — — Corporate obligations — 74 — — 74 Municipal obligations — 3 — — 3 Equity securities: U.S. companies 380 — — — 380 International companies 8 — — — 8 Investment funds 22 — — — 22 $ 1,356 $ 85 $ 2 $ (5) $ 1,438 Liabilities - commodity derivatives $ — $ (20) $ (17) $ 17 $ (20) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2022: Assets: Commodity derivatives $ 1 $ 37 $ 6 $ (10) $ 34 Money market mutual funds 225 — — — 225 Debt securities: U.S. government obligations 215 — — — 215 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 8 — — — 8 Investment funds 16 — — — 16 $ 825 $ 112 $ 6 $ (10) $ 933 Liabilities - commodity derivatives $ — $ (12) $ (1) $ 10 $ (3) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $12 million and $— million as of September 30, 2023 and December 31, 2022, respectively. MidAmerican Energy's investments in money market mutual funds and debt and equity securities are stated at fair value, with debt securities accounted for as available-for-sale securities. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. In the absence of a quoted market price or net asset value of an identical security, the fair value is determined using pricing models or net asset values based on observable market inputs and quoted market prices of securities with similar characteristics. The following table reconciles the beginning and ending balances of MidAmerican Energy's commodity derivative assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ (14) $ 26 $ 5 $ (5) Changes in fair value recognized in net regulatory assets (9) (2) (36) 42 Settlements 8 (10) 16 (23) Ending balance $ (15) $ 14 $ (15) $ 14 MidAmerican Energy's long-term debt is carried at cost on the Balance Sheets. The fair value of MidAmerican Energy's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of MidAmerican Energy's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of MidAmerican Energy's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 8,765 $ 7,594 $ 7,729 $ 6,964 |
MidAmerican Funding, LLC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements Refer to Note 8 of MidAmerican Energy's Notes to Financial Statements. MidAmerican Funding's long-term debt is carried at cost on the Consolidated Financial Statements. The fair value of MidAmerican Funding's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of MidAmerican Funding's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of MidAmerican Funding's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 9,005 $ 7,844 $ 7,969 $ 7,219 |
NPC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements The carrying value of Nevada Power's cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. Nevada Power has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: • Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that Nevada Power has the ability to access at the measurement date. • Level 2 — Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 — Unobservable inputs reflect Nevada Power's judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. Nevada Power develops these inputs based on the best information available, including its own data. The following table presents Nevada Power's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of September 30, 2023: Assets: Money market mutual funds $ 34 — — $ 34 Investment funds 4 — — 4 $ 38 $ — $ — $ 38 Liabilities - commodity derivatives $ — $ — $ (58) $ (58) As of December 31, 2022: Assets: Commodity derivatives $ — $ — $ 23 $ 23 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 23 $ 60 Liabilities - commodity derivatives $ — $ — $ (75) $ (75) Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which Nevada Power transacts. When quoted prices for identical contracts are not available, Nevada Power uses forward price curves. Forward price curves represent Nevada Power's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. Nevada Power bases its forward price curves upon internally developed models, with internal and external fundamental data inputs. Market price quotations for certain electricity and natural gas trading hubs are not as readily obtainable due to markets that are not active. Given that limited market data exists for these contracts, Nevada Power uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The model incorporates a mid-market pricing convention (the mid‑point price between bid and ask prices) as a practical expedient for valuing its assets and liabilities measured and reported at fair value. The determination of the fair value for derivative contracts not only includes counterparty risk, but also the impact of Nevada Power's nonperformance risk on its liabilities, which as of September 30, 2023 and December 31, 2022, had an immaterial impact to the fair value of its derivative contracts. As such, Nevada Power considers its derivative contracts to be valued using Level 3 inputs. Nevada Power's investments in money market mutual funds and investment funds are stated at fair value. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. The following table reconciles the beginning and ending balances of Nevada Power's commodity derivative assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ (126) $ (175) $ (52) $ (113) Changes in fair value recognized in regulatory assets (31) (4) (150) (81) Settlements 99 113 144 128 Ending balance $ (58) $ (66) $ (58) $ (66) Nevada Power's long-term debt is carried at cost on the Consolidated Balance Sheets. The fair value of Nevada Power's long‑term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of Nevada Power's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of Nevada Power's long‑term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,391 $ 3,146 $ 3,195 $ 3,114 |
SPPC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements The carrying value of Sierra Pacific's cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. Sierra Pacific has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: • Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that Sierra Pacific has the ability to access at the measurement date. • Level 2 — Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 — Unobservable inputs reflect Sierra Pacific's judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. Sierra Pacific develops these inputs based on the best information available, including its own data. The following table presents Sierra Pacific's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of September 30, 2023: Assets: Money market mutual funds $ 38 — — $ 38 Investment funds 1 — — 1 $ 39 $ — $ — $ 39 Liabilities - commodity derivatives $ — $ — $ (12) $ (12) As of December 31, 2022: Assets: Commodity derivatives $ — $ — $ 8 $ 8 Money market mutual funds 49 — — 49 Investment funds 1 — — 1 $ 50 $ — $ 8 $ 58 Liabilities - commodity derivatives $ — $ — $ (21) $ (21) Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which Sierra Pacific transacts. When quoted prices for identical contracts are not available, Sierra Pacific uses forward price curves. Forward price curves represent Sierra Pacific's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. Sierra Pacific bases its forward price curves upon internally developed models, with internal and external fundamental data inputs. Market price quotations for certain electricity and natural gas trading hubs are not as readily obtainable due to markets that are not active. Given that limited market data exists for these contracts, Sierra Pacific uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The model incorporates a mid-market pricing convention (the mid‑point price between bid and ask prices) as a practical expedient for valuing its assets and liabilities measured and reported at fair value. The determination of the fair value for derivative contracts not only includes counterparty risk, but also the impact of Sierra Pacific's nonperformance risk on its liabilities, which as of September 30, 2023 and December 31, 2022, had an immaterial impact to the fair value of its derivative contracts. As such, Sierra Pacific considers its derivative contracts to be valued using Level 3 inputs. Sierra Pacific's investments in money market mutual funds and investment funds are stated at fair value. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. The following table reconciles the beginning and ending balances of Sierra Pacific's commodity derivative assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ (36) $ (54) $ (13) $ (33) Changes in fair value recognized in regulatory assets (8) 1 (45) (25) Settlements 32 36 46 41 Ending balance $ (12) $ (17) $ (12) $ (17) Sierra Pacific's long-term debt is carried at cost on the Consolidated Balance Sheets. The fair value of Sierra Pacific's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of Sierra Pacific's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of Sierra Pacific's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,292 $ 1,218 $ 1,148 $ 1,111 |
EEGH | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements The carrying value of Eastern Energy Gas' cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. Eastern Energy Gas has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: • Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that Eastern Energy Gas has the ability to access at the measurement date. • Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 - Unobservable inputs reflect Eastern Energy Gas' judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. Eastern Energy Gas develops these inputs based on the best information available, including its own data. The following table presents Eastern Energy Gas' financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of September 30, 2023: Assets: Money market mutual funds $ 94 $ — $ — $ 94 Equity securities: Investment funds 18 — — 18 $ 112 $ — $ — $ 112 Liabilities: Foreign currency exchange rate derivatives $ — $ (18) $ — $ (18) $ — $ (18) $ — $ (18) As of December 31, 2022: Assets: Commodity derivatives $ — $ 1 $ — $ 1 Money market mutual funds 42 — — 42 Equity securities: Investment funds 14 — — 14 $ 56 $ 1 $ — $ 57 Liabilities: Foreign currency exchange rate derivatives $ — $ (20) $ — $ (20) $ — $ (20) $ — $ (20) Eastern Energy Gas' investments in money market mutual funds and investment funds are stated at fair value. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchase or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which Eastern Energy Gas transacts. When quoted prices for identical contracts are not available, Eastern Energy Gas uses forward price curves. Forward price curves represent Eastern Energy Gas' estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. Eastern Energy Gas bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent brokers, exchanges, direct communication with market participants and actual transactions executed by Eastern Energy Gas. Market price quotations are generally readily obtainable for the applicable term of Eastern Energy Gas' outstanding derivative contracts; therefore, Eastern Energy Gas' forward price curves reflect observable market quotes. Market price quotations for certain natural gas trading hubs are not as readily obtainable due to the length of the contracts. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, Eastern Energy Gas uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The estimated fair value of these derivative contracts is a function of underlying forward commodity prices, interest rates, currency rates, related volatility, counterparty creditworthiness and duration of contracts. Eastern Energy Gas' long-term debt is carried at cost on the Consolidated Financial Statements. The fair value of Eastern Energy Gas' long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of Eastern Energy Gas' variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of Eastern Energy Gas' long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,642 $ 3,200 $ 3,892 $ 3,510 |
EGTS | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements The carrying value of EGTS' cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. EGTS has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: • Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that EGTS has the ability to access at the measurement date. • Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 - Unobservable inputs reflect EGTS' judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. EGTS develops these inputs based on the best information available, including its own data. The following table presents EGTS' financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of September 30, 2023: Assets: Money market mutual funds $ 12 $ — $ — $ 12 Equity securities: Investment funds 18 — — 18 $ 30 $ — $ — $ 30 As of December 31, 2022: Assets: Commodity derivatives $ — $ 1 $ — $ 1 Money market mutual funds 8 — — 8 Equity securities: Investment funds 14 — — 14 $ 22 $ 1 $ — $ 23 EGTS' investments in money market mutual funds and investment funds are stated at fair value. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchase or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which EGTS transacts. When quoted prices for identical contracts are not available, EGTS uses forward price curves. Forward price curves represent EGTS' estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. EGTS bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent brokers, exchanges, direct communication with market participants and actual transactions executed by EGTS. Market price quotations are generally readily obtainable for the applicable term of EGTS' outstanding derivative contracts; therefore, EGTS' forward price curves reflect observable market quotes. Market price quotations for certain natural gas trading hubs are not as readily obtainable due to the length of the contracts. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, EGTS uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The estimated fair value of these derivative contracts is a function of underlying forward commodity prices, related volatility, counterparty creditworthiness and duration of contracts. EGTS' long-term debt is carried at cost on the Consolidated Financial Statements. The fair value of EGTS' long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The following table presents the carrying value and estimated fair value of EGTS' long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 1,583 $ 1,275 $ 1,582 $ 1,337 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments The Company has the following firm commitments that are not reflected on the Consolidated Balance Sheets. Construction Commitments During the nine-month period ended September 30, 2023, PacifiCorp entered into build transfer agreements totaling $1.2 billion through 2025 for the construction of certain wind-powered generating facilities in Wyoming. During the nine-month period ended September 30, 2023, MidAmerican Energy entered into firm construction commitments totaling $354 million for the remainder of 2023 through 2024 related to the construction and repowering of wind-powered generating facilities in Iowa. Fuel Contracts During the nine-month period ended September 30, 2023, PacifiCorp entered into certain coal supply agreements totaling $425 million through 2025. Environmental Laws and Regulations The Company is subject to federal, state, local and foreign laws and regulations regarding air quality, climate change, emissions performance standards, water quality, coal ash disposal, hazardous and other environmental matters that have the potential to impact the Company's current and future operations. The Company believes it is in material compliance with all applicable laws and regulations. Lower Klamath Hydroelectric Project In November 2022, the Federal Energy Regulatory Commission ("FERC") issued a license surrender order for the Lower Klamath Project, which was accepted by the Klamath River Renewal Corporation ("KRRC") and the states of Oregon and California ("States") in December 2022, along with the transfer of the Lower Klamath Project dams. Although PacifiCorp no longer owns the Lower Klamath Project, PacifiCorp will continue to operate the facilities under an operation and maintenance agreement with the KRRC until each facility is ready for removal. Removal of the Copco No. 2 facility began in June 2023, and removal of the remaining three dams (J.C. Boyle, Copco No. 1 and Iron Gate) is anticipated to begin in 2024. The KRRC has $450 million in funding available for dam removal and restoration; $200 million collected from PacifiCorp's Oregon and California customers and $250 million in California bond funds. PacifiCorp and the States have also agreed to equally share cost overruns that may occur above the initial $450 million in funding. Specifically, PacifiCorp and the States have agreed to equally fund an initial $45 million contingency fund and equally share any additional costs above that amount to ensure dam removal and restoration is complete. Legal Matters The Company is party to a variety of legal actions, including litigation, arising out of the normal course of business, some of which assert claims for damages in substantial amounts and are described below. For certain legal actions, parties at times may seek to impose fines, penalties and other costs. Pursuant to Accounting Standards Codification Topic 450, Contingencies , a provision for a loss contingency is recorded when it is probable a liability is likely to occur and the amount of loss can be reasonably estimated. The Company evaluates the related range of reasonably estimated losses and records a loss based on its best estimate within that range or the lower end of the range if there is no better estimate. Wildfire Liability Overview In California, under inverse condemnation, courts have held that investor-owned utilities can be liable for real and personal property damages from wildfires without the utility being found negligent and regardless of fault. California law also permits inverse condemnation plaintiffs to recover reasonable attorney fees and costs. In both Oregon and California, PacifiCorp has equipment in areas accessed through special use permits, easements or similar agreements that may contain provisions requiring it to pay for damages caused by its equipment regardless of fault. Even if inverse condemnation or other provisions do not apply, PacifiCorp could be found liable for all damages. 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, which resulted in real and personal property and natural resource damage, personal injuries and loss of life and widespread power outages in Oregon and Northern California. The wildfires spread across certain parts of PacifiCorp's service territory and surrounding areas across multiple counties in Oregon and California, including Siskiyou County, California; Jackson County, Oregon; Douglas County, Oregon; Marion County, Oregon; Lincoln County, Oregon; and Klamath County, Oregon, burning over 500,000 acres in aggregate. Third-party reports for these wildfires indicate over 2,000 structures destroyed, including residences; several structures damaged; multiple individuals injured; and several fatalities. Investigations into the cause and origin of each wildfire are complex and ongoing and have been or are being conducted by various entities, including the U.S. Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. As of the date of this filing, numerous lawsuits on behalf of plaintiffs related to the 2020 Wildfires have been filed in Oregon and California, including a class action complaint in Oregon for which the jury issued a verdict for the 17 named plaintiffs in June 2023 as described below. The plaintiffs seek damages for economic losses, noneconomic losses, including mental suffering, emotional distress, personal injury and loss of life, punitive damages, other damages and attorneys' fees. Several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. Additionally, certain governmental agencies have informed PacifiCorp that they are contemplating filing actions in connection with certain of the Oregon 2020 Wildfires. Amounts sought in the lawsuits, complaints and demands filed in Oregon and in certain demands made in California total nearly $8 billion, excluding any doubling or trebling of damages included in the complaints. Generally, the lawsuits and complaints filed in California do not specify damages sought and are excluded from this amount. On September 30, 2020, a class action complaint against PacifiCorp was filed, captioned Jeanyne James et al. v. PacifiCorp et al, in Multnomah County Circuit Court, Oregon (the "James case"). The complaint was filed by Oregon residents and businesses who seek to represent a class of all Oregon citizens and entities whose real or personal property was harmed beginning on September 7, 2020, by wildfires in Oregon allegedly caused by PacifiCorp. In November 2021, the plaintiffs filed an amended complaint to limit the class to include Oregon citizens allegedly impacted by the Santiam Canyon, Echo Mountain Complex, South Obenchain and 242 wildfires. In May 2022, the Multnomah County Circuit Court granted issue class certification and consolidated the James case with several other cases. While PacifiCorp's pre-trial request for immediate appeal of the class certification was denied, it will have the opportunity to appeal the class issues post-judgment. In April 2023, the jury trial for the James case with respect to 17 named plaintiffs began in Multnomah County Circuit Court. In June 2023, the jury issued its verdict finding PacifiCorp liable to the 17 individual plaintiffs and to the class with respect to the four wildfires. The jury awarded the 17 named plaintiffs $90 million of damages, including $4 million of economic and property damages, $68 million of noneconomic damages and $18 million of punitive damages based on a 0.25 multiplier of the economic and noneconomic damages. In September 2023, the Multnomah County Circuit Court ordered trial dates for two consolidated jury trials including approximately 10 class members each and a third trial for certain commercial timber plaintiffs wherein plaintiffs in each of the three trials will present evidence regarding their damages. The trials are scheduled at various dates from January to April 2024. A fourth jury trial is scheduled in May 2024 relating to certain nonclass plaintiffs associated with the Echo Mountain Complex fire. Hearings on PacifiCorp's post-trial motions are scheduled to be held November 9, 2023. Under ORS 82.010, interest at a rate of 9% per annum will accrue on the judgment commencing at the date the judgment is entered unless otherwise specified in the judgment. No judgment has yet been entered by the Multnomah County Circuit Court. PacifiCorp intends to appeal the jury's findings and damage awards in the James case, including whether the case can proceed as a class action. The appeals process and further actions could take several years. Based on available information to date, PacifiCorp believes it is probable that losses will be incurred associated with the 2020 Wildfires. Final determinations of liability will only be made following the completion of comprehensive investigations, litigation or similar processes, the outcome of which, if adverse, could, in the aggregate, have a material adverse effect on PacifiCorp's financial condition. 2022 McKinney Fire According to the California Department of Forestry and Fire Protection, on July 29, 2022, the 2022 McKinney Fire began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California located in PacifiCorp's service territory. Third-party reports indicate that the 2022 McKinney Fire resulted in 11 structures damaged, 185 structures destroyed, 12 injuries and four fatalities and consumed 60,000 acres. The cause of the 2022 McKinney Fire is undetermined and remains under investigation by the U.S. Forest Service, the California Public Utilities Commission, PacifiCorp and various experts engaged by PacifiCorp. As of the date of this filing, multiple lawsuits have been filed in California on behalf of plaintiffs related to the 2022 McKinney Fire. The plaintiffs seek damages for economic losses, noneconomic losses, including mental suffering, emotional distress, personal injury and loss of life, punitive damages, other damages and attorneys' fees, but the amount of damages sought is not specified. PacifiCorp had previously not considered a loss probable related to the 2022 McKinney Fire; however, based on available information to date, PacifiCorp now believes it is probable a loss will be incurred associated with the 2022 McKinney Fire. Final determinations of liability will only be made following the completion of comprehensive investigations, litigation or similar processes. Estimated Losses for the Wildfires Based on the facts and circumstances available to PacifiCorp as of the date of this filing, including (i) ongoing cause and origin investigations; (ii) ongoing settlement and mediation discussions; (iii) other litigation matters and upcoming legal proceedings; and (iv) the status of the James case, PacifiCorp increased its accrual by $1,387 million during the three-month period ended September 30, 2023, bringing its cumulative estimated probable losses associated with the Wildfires to $2,405 million through September 30, 2023. PacifiCorp's cumulative accrual includes estimates of probable losses for fire suppression costs, real and personal property damages, natural resource damages and noneconomic damages such as personal injury damages and loss of life damages that it is reasonably able to estimate at this time and which is subject to change as additional relevant information becomes available. The following table presents changes in PacifiCorp's liability for estimated losses associated with the Wildfires (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ 948 $ 477 $ 424 $ 252 Accrued losses 1,387 — 1,928 225 Payments (57) — (74) — Ending balance $ 2,278 $ 477 $ 2,278 $ 477 Until such time that settlement terms or other conclusions are reached to indicate that payments are expected to occur in the short-term, PacifiCorp's liability for estimated losses associated with the Wildfires is classified as a noncurrent liability on the Consolidated Balance Sheets. PacifiCorp's receivable for expected insurance recoveries associated with the probable losses was $503 million and $246 million, respectively, as of September 30, 2023 and December 31, 2022 and is included in Other assets on the Consolidated Balance Sheets. During the three- and nine-month periods ended September 30, 2023, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the Wildfires of $1,263 million and $1,671 million, respectively. During the three- and nine-month periods ended September 30, 2022, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the Wildfires of $— million and $64 million, respectively. No additional insurance recoveries beyond those accrued to date are expected to be available. It is reasonably possible PacifiCorp will incur material additional losses beyond the amounts accrued for the Wildfires that could have a material adverse effect on PacifiCorp's financial condition. PacifiCorp is currently unable to reasonably estimate a specific range of possible additional losses that could be incurred due to the number of properties and parties involved, including claimants in the class to the James case, the variation in the types of properties and damages and the ultimate outcome of legal actions. HomeServices Antitrust Cases HomeServices is currently defending against four antitrust cases, all in federal district courts. In each case, plaintiffs claim HomeServices and certain subsidiaries conspired with co-defendants to artificially inflate real estate commissions by following and enforcing multiple listing service ("MLS") rules that require listing agents to offer a commission split to cooperating agents in order for the property to appear on the MLS ("Cooperative Compensation Rule"). Three of the four cases are brought on behalf of sellers and one is brought on behalf of buyers. None of the complaints specify damages sought. In April 2019, the Burnett (formerly Sitzer) et al. v. HomeServices of America, Inc. et al. complaint was filed in the U.S. District Court for the Western District of Missouri (the "Burnett case"). This lawsuit, which was certified as a class in April 2022, was originally brought on behalf of named plaintiffs Joshua Sitzer and Amy Winger against the National Association of Realtors ("NAR"), Anywhere Real Estate (formerly Realogy Holdings Corp.), HomeServices of America, Inc., RE/MAX, LLC, and Keller Williams Realty, Inc. HSF Affiliates, LLC and BHH Affiliates, LLC, each a subsidiary of HomeServices, were subsequently added as defendants. Rhonda Burnett became a lead class plaintiff in June 2021. The jury trial commenced on October 16, 2023, and the jury returned a verdict for the plaintiffs on October 31, 2023, finding that the named defendants participated in a conspiracy to follow and enforce the Cooperative Compensation Rule, which had the purpose or effect of raising, inflating, or stabilizing broker commission rates paid by home sellers. The jury further found that the class plaintiffs had proved damages in the amount of $1.8 billion. Federal law authorizes trebling of damages and the award of pre-judgment interest and attorney fees. Joint and several liability applies for the co-defendants. Prior to the trial, Anywhere Real Estate (formerly Realogy Holdings Corp.) and RE/MAX, LLC reached settlement agreements with the plaintiffs, which have not yet been approved by the court. Final judgment has not yet been entered by the U.S. District Court for the Western District of Missouri. HomeServices intends to vigorously appeal on multiple grounds the jury's findings and damage award in the Burnett case, including whether the case can proceed as a class action. The appeals process and further actions could take several years. Based on available information to date, HomeServices believes losses are likely to occur as a result of the jury verdict in the Burnett case and that such damages could be up to $5.4 billion, excluding attorneys' fees, prejudgment interest and other costs subject to determination by the court. Under the current circumstances, HomeServices is currently unable to reasonably estimate such losses due to, among other reasons, the joint and several nature of the liability and the early stage of the appeals process; therefore, no loss has been accrued as of the date of this filing. While HomeServices intends to vigorously appeal any final judgment, the outcome of such appeals, if adverse, could have a material adverse effect on HomeServices’ financial condition. It is also reasonably possible HomeServices will incur losses from the three remaining antitrust cases that could have a material adverse effect on HomeServices’ financial condition. HomeServices is currently unable to reasonably estimate a specific range of possible losses that could be incurred due to, among other reasons, the lack of information about the size of the plaintiff class and potential damages, as well as the joint and several nature of potential liability of the defendants. Guarantees The Company has entered into guarantees as part of the normal course of business and the sale or transfer of certain assets. These guarantees are not expected to have a material impact on the Company's consolidated financial results. |
PAC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments PacifiCorp has the following firm commitments that are not reflected on the Consolidated Balance Sheets. Construction Commitments During the nine-month period ended September 30, 2023, PacifiCorp entered into build transfer agreements totaling $1.2 billion through 2025 for the construction of certain wind-powered generating facilities in Wyoming. Fuel Contracts During the nine-month period ended September 30, 2023, PacifiCorp entered into certain coal supply agreements totaling $425 million through 2025. Environmental Laws and Regulations PacifiCorp is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality, coal ash disposal, wildfire prevention and mitigation and other environmental matters that have the potential to impact its current and future operations. PacifiCorp believes it is in material compliance with all applicable laws and regulations. Lower Klamath Hydroelectric Project In November 2022, the Federal Energy Regulatory Commission ("FERC") issued a license surrender order for the Lower Klamath Project, which was accepted by the Klamath River Renewal Corporation ("KRRC") and the states of Oregon and California ("States") in December 2022, along with the transfer of the Lower Klamath Project dams. Although PacifiCorp no longer owns the Lower Klamath Project, PacifiCorp will continue to operate the facilities under an operation and maintenance agreement with the KRRC until each facility is ready for removal. Removal of the Copco No. 2 facility began in June 2023, and removal of the remaining three dams (J.C. Boyle, Copco No. 1 and Iron Gate) is anticipated to begin in 2024. The KRRC has $450 million in funding available for dam removal and restoration; $200 million collected from PacifiCorp's Oregon and California customers and $250 million in California bond funds. PacifiCorp and the States have also agreed to equally share cost overruns that may occur above the initial $450 million in funding. Specifically, PacifiCorp and the States have agreed to equally fund an initial $45 million contingency fund and equally share any additional costs above that amount to ensure dam removal and restoration is complete. Legal Matters PacifiCorp is party to a variety of legal actions, including litigation, arising out of the normal course of business, some of which assert claims for damages in substantial amounts and are described below. For certain legal actions, parties at times may seek to impose fines, penalties and other costs. Pursuant to Accounting Standards Codification Topic 450, Contingencies , a provision for a loss contingency is recorded when it is probable a liability is likely to occur and the amount of loss can be reasonably estimated. PacifiCorp evaluates the related range of reasonably estimated losses and records a loss based on its best estimate within that range or the lower end of the range if there is no better estimate. Wildfires Overview In California, under inverse condemnation, courts have held that investor-owned utilities can be liable for real and personal property damages from wildfires without the utility being found negligent and regardless of fault. California law also permits inverse condemnation plaintiffs to recover reasonable attorney fees and costs. In both Oregon and California, PacifiCorp has equipment in areas accessed through special use permits, easements or similar agreements that may contain provisions requiring it to pay for damages caused by its equipment regardless of fault. Even if inverse condemnation or other provisions do not apply, PacifiCorp could be found liable for all damages. 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, which resulted in real and personal property and natural resource damage, personal injuries and loss of life and widespread power outages in Oregon and Northern California. The wildfires spread across certain parts of PacifiCorp's service territory and surrounding areas across multiple counties in Oregon and California, including Siskiyou County, California; Jackson County, Oregon; Douglas County, Oregon; Marion County, Oregon; Lincoln County, Oregon; and Klamath County, Oregon, burning over 500,000 acres in aggregate. Third-party reports for these wildfires indicate over 2,000 structures destroyed, including residences; several structures damaged; multiple individuals injured; and several fatalities. Investigations into the cause and origin of each wildfire are complex and ongoing and have been or are being conducted by various entities, including the U.S. Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. As of the date of this filing, numerous lawsuits on behalf of plaintiffs related to the 2020 Wildfires have been filed in Oregon and California, including a class action complaint in Oregon for which the jury issued a verdict for the 17 named plaintiffs in June 2023 as described below. The plaintiffs seek damages for economic losses, noneconomic losses, including mental suffering, emotional distress, personal injury and loss of life, punitive damages, other damages and attorneys' fees. Several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. Additionally, certain governmental agencies have informed PacifiCorp that they are contemplating filing actions in connection with certain of the Oregon 2020 Wildfires. Amounts sought in the lawsuits, complaints and demands filed in Oregon and in certain demands made in California total nearly $8 billion, excluding any doubling or trebling of damages included in the complaints. Generally, the lawsuits and complaints filed in California do not specify damages sought and are excluded from this amount. On September 30, 2020, a class action complaint against PacifiCorp was filed, captioned Jeanyne James et al. v. PacifiCorp et al, in Multnomah County Circuit Court, Oregon (the "James case"). The complaint was filed by Oregon residents and businesses who seek to represent a class of all Oregon citizens and entities whose real or personal property was harmed beginning on September 7, 2020, by wildfires in Oregon allegedly caused by PacifiCorp. In November 2021, the plaintiffs filed an amended complaint to limit the class to include Oregon citizens allegedly impacted by the Santiam Canyon, Echo Mountain Complex, South Obenchain and 242 wildfires. In May 2022, the Multnomah County Circuit Court granted issue class certification and consolidated the James case with several other cases. While PacifiCorp's pre-trial request for immediate appeal of the class certification was denied, it will have the opportunity to appeal the class issues post-judgment. In April 2023, the jury trial for the James case with respect to 17 named plaintiffs began in Multnomah County Circuit Court. In June 2023, the jury issued its verdict finding PacifiCorp liable to the 17 individual plaintiffs and to the class with respect to the four wildfires. The jury awarded the 17 named plaintiffs $90 million of damages, including $4 million of economic and property damages, $68 million of noneconomic damages and $18 million of punitive damages based on a 0.25 multiplier of the economic and noneconomic damages. In September 2023, the Multnomah County Circuit Court ordered trial dates for two consolidated jury trials including approximately 10 class members each and a third trial for certain commercial timber plaintiffs wherein plaintiffs in each of the three trials will present evidence regarding their damages. The trials are scheduled at various dates from January to April 2024. A fourth jury trial is scheduled in May 2024 relating to certain nonclass plaintiffs associated with the Echo Mountain Complex fire. Hearings on PacifiCorp's post-trial motions are scheduled to be held November 9, 2023. Under ORS 82.010, interest at a rate of 9% per annum will accrue on the judgment commencing at the date the judgment is entered unless otherwise specified in the judgment. No judgment has yet been entered by the Multnomah County Circuit Court. PacifiCorp intends to appeal the jury's findings and damage awards in the James case, including whether the case can proceed as a class action. The appeals process and further actions could take several years. Based on available information to date, PacifiCorp believes it is probable that losses will be incurred associated with the 2020 Wildfires. Final determinations of liability will only be made following the completion of comprehensive investigations, litigation or similar processes, the outcome of which, if adverse, could, in the aggregate, have a material adverse effect on PacifiCorp's financial condition. 2022 McKinney Fire According to the California Department of Forestry and Fire Protection, on July 29, 2022, the 2022 McKinney Fire began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California located in PacifiCorp's service territory. Third-party reports indicate that the 2022 McKinney Fire resulted in 11 structures damaged, 185 structures destroyed, 12 injuries and four fatalities and consumed 60,000 acres. The cause of the 2022 McKinney Fire is undetermined and remains under investigation by the U.S. Forest Service, the California Public Utilities Commission, PacifiCorp and various experts engaged by PacifiCorp. As of the date of this filing, multiple lawsuits have been filed in California on behalf of plaintiffs related to the 2022 McKinney Fire. The plaintiffs seek damages for economic losses, noneconomic losses, including mental suffering, emotional distress, personal injury and loss of life, punitive damages, other damages and attorneys' fees, but the amount of damages sought is not specified. PacifiCorp had previously not considered a loss probable related to the 2022 McKinney Fire; however, based on available information to date, PacifiCorp now believes it is probable a loss will be incurred associated with the 2022 McKinney Fire. Final determinations of liability will only be made following the completion of comprehensive investigations, litigation or similar processes. Estimated Losses for the Wildfires Based on the facts and circumstances available to PacifiCorp as of the date of this filing, including (i) ongoing cause and origin investigations; (ii) ongoing settlement and mediation discussions; (iii) other litigation matters and upcoming legal proceedings; and (iv) the status of the James case, PacifiCorp increased its accrual by $1,387 million during the three-month period ended September 30, 2023, bringing its cumulative estimated probable losses associated with the Wildfires to $2,405 million through September 30, 2023. PacifiCorp's cumulative accrual includes estimates of probable losses for fire suppression costs, real and personal property damages, natural resource damages and noneconomic damages such as personal injury damages and loss of life damages that it is reasonably able to estimate at this time and which is subject to change as additional relevant information becomes available. The following table presents changes in PacifiCorp's liability for estimated losses associated with the Wildfires (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ 948 $ 477 $ 424 $ 252 Accrued losses 1,387 — 1,928 225 Payments (57) — (74) — Ending balance $ 2,278 $ 477 $ 2,278 $ 477 Until such time that settlement terms or other conclusions are reached to indicate that payments are expected to occur in the short-term, PacifiCorp's liability for estimated losses associated with the Wildfires is classified as a noncurrent liability on the Consolidated Balance Sheets. PacifiCorp's receivable for expected insurance recoveries associated with the probable losses was $503 million and $246 million, respectively, as of September 30, 2023 and December 31, 2022, and is included in Other assets on the Consolidated Balance Sheets. During the three- and nine-month periods ended September 30, 2023, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the Wildfires of $1,263 million and $1,671 million, respectively. During the three- and nine-month periods ended September 30, 2022, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the Wildfires of $— million and $64 million, respectively. No additional insurance recoveries beyond those accrued to date are expected to be available. It is reasonably possible PacifiCorp will incur material additional losses beyond the amounts accrued for the Wildfires that could have a material adverse effect on PacifiCorp's financial condition. PacifiCorp is currently unable to reasonably estimate a specific range of possible additional losses that could be incurred due to the number of properties and parties involved, including claimants in the class to the James case, the variation in the types of properties and damages and the ultimate outcome of legal actions. Guarantees PacifiCorp has entered into guarantees as part of the normal course of business and the sale or transfer of certain assets. These guarantees are not expected to have a material impact on PacifiCorp's consolidated financial results. |
MEC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments MidAmerican Energy has the following firm commitments that are not reflected on the Balance Sheets. Construction Commitments During the nine-month period ended September 30, 2023, MidAmerican Energy entered into firm construction commitments totaling $354 million for the remainder of 2023 through 2024 related to the construction and repowering of wind-powered generating facilities in Iowa. Environmental Laws and Regulations MidAmerican Energy is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality, coal ash disposal and other environmental matters that have the potential to impact its current and future operations. MidAmerican Energy believes it is in material compliance with all applicable laws and regulations. Legal Matters MidAmerican Energy is party to a variety of legal actions arising out of the normal course of business. MidAmerican Energy does not believe that such normal and routine litigation will have a material impact on its financial results. Transmission Rates MidAmerican Energy's wholesale transmission rates are set annually using formula rates approved by the Federal Energy Regulatory Commission ("FERC") subject to true-up for actual cost of service. In November 2013 and February 2015, a coalition of intervenors filed successive complaints with the FERC requesting that the base return on equity ("ROE") used to determine rates in effect prior to September 2016 no longer be found just and reasonable and sought to reduce the base ROE. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit issued an opinion vacating all orders related to the complaints and remanding them back to the FERC. MidAmerican Energy cannot predict the ultimate outcome of these matters or the amount of refunds, if any, and accordingly, has reversed its previously accrued liability for potential refunds of amounts collected under the higher ROE during the periods covered by the complaints. |
MidAmerican Funding, LLC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and ContingenciesMidAmerican Funding is party to a variety of legal actions arising out of the normal course of business. MidAmerican Funding does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. Refer to Note 9 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Laws and Regulations Nevada Power is subject to federal, state and local laws and regulations regarding climate change, renewable portfolio standards, air and water quality, emissions performance standards, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact Nevada Power's current and future operations. Nevada Power believes it is in material compliance with all applicable laws and regulations. Legal Matters Nevada Power is party to a variety of legal actions arising out of the normal course of business. Nevada Power does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. |
SPPC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Laws and Regulations Sierra Pacific is subject to federal, state and local laws and regulations regarding climate change, renewable portfolio standards, air and water quality, emissions performance standards, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact Sierra Pacific's current and future operations. Sierra Pacific believes it is in material compliance with all applicable laws and regulations. Legal Matters Sierra Pacific is party to a variety of legal actions arising out of the normal course of business. Sierra Pacific does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. |
EEGH | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Laws and Regulations Eastern Energy Gas is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality and other environmental matters that have the potential to impact its current and future operations. Eastern Energy Gas believes it is in material compliance with all applicable laws and regulations. Legal Matters Eastern Energy Gas is party to a variety of legal actions arising out of the normal course of business. Eastern Energy Gas does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. |
EGTS | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Laws and Regulations EGTS is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality and other environmental matters that have the potential to impact its current and future operations. EGTS believes it is in material compliance with all applicable laws and regulations. Legal Matters EGTS is party to a variety of legal actions arising out of the normal course of business. EGTS does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 9 Months Ended |
Sep. 30, 2023 | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Energy Products and Services The following table summarizes the Company's energy products and services revenue from contracts with customers ("Customer Revenue") by regulated and nonregulated, with further disaggregation of regulated by line of business, including a reconciliation to the Company's reportable segment information included in Note 14 (in millions): For the Three-Month Period Ended September 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,543 $ 773 $ 1,448 $ — $ — $ — $ — $ (1) $ 3,763 Retail gas — 77 28 — — — — — 105 Wholesale 47 81 15 — — — — (2) 141 Transmission and 44 15 21 248 — 165 — — 493 Interstate pipeline — — — — 551 — — (30) 521 Other 31 — — — 8 — — — 39 Total Regulated 1,665 946 1,512 248 559 165 — (33) 5,062 Nonregulated — 2 2 35 230 30 457 (2) 754 Total Customer Revenue 1,665 948 1,514 283 789 195 457 (35) 5,816 Other revenue 11 16 4 32 15 1 62 1 142 Total $ 1,676 $ 964 $ 1,518 $ 315 $ 804 $ 196 $ 519 $ (34) $ 5,958 For the Nine-Month Period Ended September 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 4,124 $ 1,833 $ 3,339 $ — $ — $ — $ — $ (1) $ 9,295 Retail gas — 463 167 — — — — — 630 Wholesale 134 233 55 — — — — (1) 421 Transmission and 116 42 58 773 — 496 — — 1,485 Interstate pipeline — — — — 1,971 — — (113) 1,858 Other 87 — — — 9 — — — 96 Total Regulated 4,461 2,571 3,619 773 1,980 496 — (115) 13,785 Nonregulated — 6 3 113 766 100 1,138 (1) 2,125 Total Customer Revenue 4,461 2,577 3,622 886 2,746 596 1,138 (116) 15,910 Other revenue 26 66 14 89 49 (3) 211 — 452 Total $ 4,487 $ 2,643 $ 3,636 $ 975 $ 2,795 $ 593 $ 1,349 $ (116) $ 16,362 For the Three-Month Period Ended September 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,465 $ 799 $ 1,250 $ — $ — $ — $ — $ (1) $ 3,513 Retail gas — 97 20 — — — — 1 118 Wholesale 69 208 33 — — — — — 310 Transmission and 54 16 24 260 — 168 — — 522 Interstate pipeline — — — — 594 — — (26) 568 Other 24 — — — 1 — — (1) 24 Total Regulated 1,612 1,120 1,327 260 595 168 — (27) 5,055 Nonregulated — 1 — 71 326 16 440 1 855 Total Customer Revenue 1,612 1,121 1,327 331 921 184 440 (26) 5,910 Other revenue 23 27 7 28 43 (7) 67 (3) 185 Total $ 1,635 $ 1,148 $ 1,334 $ 359 $ 964 $ 177 $ 507 $ (29) $ 6,095 For the Nine-Month Period Ended September 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 3,817 $ 1,865 $ 2,680 $ — $ — $ — $ — $ (2) $ 8,360 Retail gas — 570 99 — — — — 1 670 Wholesale 179 488 68 — — — — (2) 733 Transmission and 131 44 59 803 — 516 — — 1,553 Interstate pipeline — — — — 1,863 — — (94) 1,769 Other 72 — 1 — 2 — — (1) 74 Total Regulated 4,199 2,967 2,907 803 1,865 516 — (98) 13,159 Nonregulated — 3 1 128 889 38 1,156 — 2,215 Total Customer Revenue 4,199 2,970 2,908 931 2,754 554 1,156 (98) 15,374 Other revenue 47 80 18 88 101 (11) 165 (4) 484 Total $ 4,246 $ 3,050 $ 2,926 $ 1,019 $ 2,855 $ 543 $ 1,321 $ (102) $ 15,858 (1) The BHE and Other reportable segment represents amounts related principally to other corporate entities, corporate functions and intersegment eliminations. Real Estate Services The following table summarizes the Company's real estate services Customer Revenue by line of business (in millions): HomeServices Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Brokerage $ 1,125 $ 1,310 $ 3,126 $ 3,946 Franchise 16 18 43 55 Total Customer Revenue 1,141 1,328 3,169 4,001 Mortgage and other revenue 71 77 214 283 Total $ 1,212 $ 1,405 $ 3,383 $ 4,284 Remaining Performance Obligations The following table summarizes the Company's revenue it expects to recognize in future periods related to significant unsatisfied remaining performance obligations for fixed contracts with expected durations in excess of one year as of September 30, 2023, by reportable segment (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total BHE Pipeline Group $ 2,972 $ 20,278 $ 23,250 BHE Transmission 164 — 164 Total $ 3,136 $ 20,278 $ 23,414 |
PAC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes PacifiCorp's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Retail: Residential $ 601 $ 576 $ 1,636 $ 1,498 Commercial 513 461 1,372 1,224 Industrial 310 310 870 860 Other retail 119 118 246 235 Total retail 1,543 1,465 4,124 3,817 Wholesale 47 69 134 179 Transmission 44 54 116 131 Other Customer Revenue 31 24 87 72 Total Customer Revenue 1,665 1,612 4,461 4,199 Other revenue 11 23 26 47 Total operating revenue $ 1,676 $ 1,635 $ 4,487 $ 4,246 |
MEC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes MidAmerican Energy's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class, including a reconciliation to MidAmerican Energy's reportable segment information included in Note 12 (in millions): For the Three-Month Period Ended September 30, 2023 For the Nine-Month Period Ended September 30, 2023 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 254 $ 48 $ — $ 302 $ 594 $ 305 $ — $ 899 Commercial 111 14 — 125 272 109 — 381 Industrial 360 3 — 363 846 14 — 860 Natural gas transportation services — 11 — 11 — 34 — 34 Other retail 48 1 — 49 121 1 — 122 Total retail 773 77 — 850 1,833 463 — 2,296 Wholesale 66 15 — 81 182 51 — 233 Multi-value transmission projects 15 — — 15 42 — — 42 Other Customer Revenue — — 2 2 — — 6 6 Total Customer Revenue 854 92 2 948 2,057 514 6 2,577 Other revenue 15 1 — 16 64 2 — 66 Total operating revenue $ 869 $ 93 $ 2 $ 964 $ 2,121 $ 516 $ 6 $ 2,643 For the Three-Month Period Ended September 30, 2022 For the Nine-Month Period Ended September 30, 2022 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 267 $ 58 $ — $ 325 $ 620 $ 370 $ — $ 990 Commercial 117 20 — 137 282 139 — 421 Industrial 364 9 — 373 839 27 — 866 Natural gas transportation services — 8 — 8 — 31 — 31 Other retail 51 2 — 53 124 3 — 127 Total retail 799 97 — 896 1,865 570 — 2,435 Wholesale 167 41 — 208 355 133 — 488 Multi-value transmission projects 16 — — 16 44 — — 44 Other Customer Revenue — — 1 1 — — 3 3 Total Customer Revenue 982 138 1 1,121 2,264 703 3 2,970 Other revenue 27 — — 27 78 2 — 80 Total operating revenue $ 1,009 $ 138 $ 1 $ 1,148 $ 2,342 $ 705 $ 3 $ 3,050 |
MidAmerican Funding, LLC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with CustomersRefer to Note 10 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes Nevada Power's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Retail: Residential $ 668 $ 582 $ 1,365 $ 1,149 Commercial 199 172 512 398 Industrial 246 202 557 404 Other 6 5 16 9 Total fully bundled 1,119 961 2,450 1,960 Distribution only service 3 5 10 15 Total retail 1,122 966 2,460 1,975 Wholesale, transmission and other 18 31 51 66 Total Customer Revenue 1,140 997 2,511 2,041 Other revenue 5 6 14 16 Total operating revenue $ 1,145 $ 1,003 $ 2,525 $ 2,057 |
SPPC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes Sierra Pacific's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class, including a reconciliation to Sierra Pacific's reportable segment information included in Note 11 (in millions): Three-Month Periods Ended September 30, 2023 2022 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 116 $ 15 $ 131 $ 107 $ 13 $ 120 Commercial 111 6 117 100 5 105 Industrial 96 5 101 73 2 75 Other — 1 1 2 — 2 Total fully bundled 323 27 350 282 20 302 Distribution only service 2 — 2 1 — 1 Total retail 325 27 352 283 20 303 Wholesale, transmission and other 20 — 20 26 — 26 Total Customer Revenue 345 27 372 309 20 329 Other revenue — — — 1 — 1 Total operating revenue $ 345 $ 27 $ 372 $ 310 $ 20 $ 330 Nine-Month Periods Ended September 30, 2023 2022 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 326 $ 100 $ 426 $ 270 $ 64 $ 334 Commercial 304 45 349 251 26 277 Industrial 241 20 261 175 9 184 Other 3 1 4 4 — 4 Total fully bundled 874 166 1,040 700 99 799 Distribution only service 4 — 4 4 — 4 Total retail 878 166 1,044 704 99 803 Wholesale, transmission and other 64 — 64 61 — 61 Total Customer Revenue 942 166 1,108 765 99 864 Other revenue — 1 1 2 1 3 Total operating revenue $ 942 $ 167 $ 1,109 $ 767 $ 100 $ 867 |
EEGH | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes Eastern Energy Gas' revenue from contracts with customers ("Customer Revenue") by regulated and nonregulated, with further disaggregation of regulated by line of business (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Regulated: Gas transmission and storage $ 281 $ 296 $ 907 $ 867 Other 8 1 9 1 Total regulated 289 297 916 868 Nonregulated 187 254 630 673 Total Customer Revenue 476 551 1,546 1,541 Other revenue (1) (1) (4) 3 (8) Total operating revenue $ 475 $ 547 $ 1,549 $ 1,533 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" and includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts. Eastern Energy Gas has recognized contract liabilities of $28 million and $80 million as of September 30, 2023 and December 31, 2022, respectively, due to the relationship between Eastern Energy Gas' performance and the customer's payment. Eastern Energy Gas recognizes revenue as it fulfills its obligations to provide services to its customers. During the nine-month period ended September 30, 2023, Eastern Energy Gas recognized revenue of $51 million from the beginning contract liability balance. Remaining Performance Obligations The following table summarizes Eastern Energy Gas' revenue it expects to recognize in future periods related to significant unsatisfied remaining performance obligations for fixed contracts with expected durations in excess of one year as of September 30, 2023 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,657 $ 14,744 $ 16,401 |
EGTS | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes EGTS' revenue from contracts with customers ("Customer Revenue") by regulated and other, with further disaggregation of regulated by line of business (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Regulated: Gas transmission $ 144 $ 151 $ 486 $ 461 Gas storage 69 74 206 190 Other 6 — 6 — Total regulated 219 225 698 651 Management service and other revenues 14 19 46 56 Total Customer Revenue 233 244 744 707 Other revenue (1) — (4) 3 (10) Total operating revenue $ 233 $ 240 $ 747 $ 697 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" and includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts. Remaining Performance Obligations The following table summarizes EGTS' revenue it expects to recognize in future periods related to significant unsatisfied remaining performance obligations for fixed contracts with expected durations in excess of one year as of September 30, 2023 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total EGTS $ 764 $ 3,171 $ 3,935 |
Shareholder's Equity
Shareholder's Equity | 9 Months Ended |
Sep. 30, 2023 | |
MEC | |
Class of Stock [Line Items] | |
Shareholder's Equity | Shareholder's Equity In January and September 2023, MidAmerican Energy paid $100 million and $900 million, respectively, in cash dividends to its parent company, MHC. |
Member's Equity
Member's Equity | 9 Months Ended |
Sep. 30, 2023 | |
MidAmerican Funding, LLC | |
Class of Stock [Line Items] | |
Member's Equity | Member's Equity In January and September 2023, MidAmerican Funding paid $100 million and $892 million. respectively, in cash distributions to its parent company, BHE. |
Components of Accumulated Other
Components of Accumulated Other Comprehensive Loss, Net | 9 Months Ended |
Sep. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Components of Accumulated Other Comprehensive Loss, Net | Components of Accumulated Other Comprehensive Loss, Net The following table shows the change in accumulated other comprehensive loss by each component of other comprehensive income (loss), net of applicable income tax (in millions): Unrecognized Foreign Unrealized AOCI Amounts on Currency Gains Attributable Retirement Translation on Cash Noncontrolling To BHE Benefits Adjustment Flow Hedges Interests Shareholders, Net Balance, December 31, 2021 $ (318) $ (1,086) $ 59 $ 5 $ (1,340) Other comprehensive income (loss) 65 (1,256) 148 — (1,043) Balance, September 30, 2022 $ (253) $ (2,342) $ 207 $ 5 $ (2,383) Balance, December 31, 2022 $ (390) $ (1,896) $ 135 $ 2 $ (2,149) Other comprehensive income (loss) 10 18 (23) — 5 Purchase of noncontrolling interest — — — (1) (1) Balance, September 30, 2023 $ (380) $ (1,878) $ 112 $ 1 $ (2,145) |
EEGH | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Components of Accumulated Other Comprehensive Loss, Net | Components of Accumulated Other Comprehensive Loss, Net The following table shows the change in accumulated other comprehensive loss by each component of other comprehensive income (loss), net of applicable income tax (in millions): Unrecognized Accumulated Amounts On Unrealized Other Retirement Losses on Cash Noncontrolling Comprehensive Benefits Flow Hedges Interests Loss, Net Balance, December 31, 2021 $ (6) $ (42) $ 5 $ (43) Other comprehensive income 1 4 — 5 Balance, September 30, 2022 $ (5) $ (38) $ 5 $ (38) Balance, December 31, 2022 $ (1) $ (43) $ 2 $ (42) Other comprehensive (loss) income (2) 6 — 4 Purchase of noncontrolling interest — — (1) (1) Balance, September 30, 2023 $ (3) $ (37) $ 1 $ (39) |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2023 | |
Segment Reporting Information [Line Items] | |
Segment Information | Segment Information The Company's reportable segments with foreign operations include Northern Powergrid, whose business is principally in the United Kingdom, and BHE Transmission, whose business includes operations in Canada. Intersegment eliminations and adjustments, including the allocation of goodwill, have been made. Effective January 1, 2023, the Company's unregulated retail energy services business was transferred to a subsidiary of BHE Renewables. Prior period amounts, which were previously reported in BHE and Other, have been changed to reflect this activity in BHE Renewables. Information related to the Company's reportable segments is shown below (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue: PacifiCorp $ 1,676 $ 1,635 $ 4,487 $ 4,246 MidAmerican Funding 964 1,148 2,643 3,050 NV Energy 1,518 1,334 3,636 2,926 Northern Powergrid 314 359 975 1,019 BHE Pipeline Group 804 964 2,795 2,855 BHE Transmission 196 177 593 543 BHE Renewables 519 506 1,349 1,320 HomeServices 1,212 1,405 3,383 4,284 BHE and Other (1) (33) (28) (116) (101) Total operating revenue $ 7,170 $ 7,500 $ 19,745 $ 20,142 Depreciation and amortization: PacifiCorp $ 285 $ 277 $ 843 $ 836 MidAmerican Funding 210 338 670 865 NV Energy 155 144 460 423 Northern Powergrid 97 92 267 272 BHE Pipeline Group 136 124 403 380 BHE Transmission 64 58 190 176 BHE Renewables 67 68 200 199 HomeServices 12 14 37 43 BHE and Other (1) 1 1 2 3 Total depreciation and amortization $ 1,027 $ 1,116 $ 3,072 $ 3,197 Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating income: PacifiCorp $ (943) $ 437 $ (979) $ 811 MidAmerican Funding 289 230 495 420 NV Energy 328 332 502 534 Northern Powergrid 102 151 369 420 BHE Pipeline Group 290 433 1,242 1,323 BHE Transmission 80 81 244 248 BHE Renewables 155 138 175 347 HomeServices 31 53 32 198 BHE and Other (1) (18) (32) (53) (35) Total operating income 314 1,823 2,027 4,266 Interest expense (603) (555) (1,788) (1,637) Capitalized interest 36 19 93 54 Allowance for equity funds 76 43 186 123 Interest and dividend income 110 40 323 93 (Losses) gains on marketable securities, net (76) (3,270) 926 (1,999) Other, net (3) 5 115 (16) Total income (loss) before income tax expense (benefit) and equity income (loss) $ (146) $ (1,895) $ 1,882 $ 884 Interest expense: PacifiCorp $ 140 $ 105 $ 398 $ 318 MidAmerican Funding 89 84 258 249 NV Energy 65 55 192 158 Northern Powergrid 26 31 86 97 BHE Pipeline Group 39 37 117 110 BHE Transmission 37 39 112 115 BHE Renewables 36 46 124 133 HomeServices 3 2 11 5 BHE and Other (1) 168 156 490 452 Total interest expense $ 603 $ 555 $ 1,788 $ 1,637 Earnings (loss) on common shares: PacifiCorp $ (652) $ 409 $ (665) $ 622 MidAmerican Funding 321 300 803 745 NV Energy 278 270 402 392 Northern Powergrid 66 100 173 282 BHE Pipeline Group 175 234 731 755 BHE Transmission 59 59 181 183 BHE Renewables 160 176 445 585 HomeServices 25 29 25 134 BHE and Other (1) 54 (2,427) 438 (1,809) Total earnings (loss) on common shares $ 486 $ (850) $ 2,533 $ 1,889 As of September 30, December 31, 2023 2022 Assets: PacifiCorp $ 32,515 $ 30,559 MidAmerican Funding 26,907 26,077 NV Energy 17,817 16,676 Northern Powergrid 9,223 9,005 BHE Pipeline Group 21,435 21,005 BHE Transmission 9,390 9,334 BHE Renewables 11,321 12,632 HomeServices 3,597 3,436 BHE and Other (1) 3,877 5,116 Total assets $ 136,082 $ 133,840 (1) The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate principally to other corporate entities, corporate functions and intersegment eliminations. Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue by country: U.S. $ 6,677 $ 6,967 $ 18,241 $ 18,588 United Kingdom 308 351 936 1,011 Canada 179 174 529 535 Australia 6 8 39 8 Total operating revenue by country $ 7,170 $ 7,500 $ 19,745 $ 20,142 Income (loss) before income tax expense (benefit) and equity income (loss) by country: U.S. $ (271) $ (2,068) $ 1,462 $ 395 United Kingdom 68 118 274 344 Canada 48 43 135 135 Australia 11 11 13 12 Other (2) 1 (2) (2) Total income (loss) before income tax expense (benefit) and equity income (loss) by country $ (146) $ (1,895) $ 1,882 $ 884 The following table shows the change in the carrying amount of goodwill by reportable segment for the nine-month period ended September 30, 2023 (in millions): BHE Pipeline Group PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Transmission BHE Renewables HomeServices Total December 31, 2022 $ 1,129 $ 2,102 $ 2,369 $ 917 $ 1,814 $ 1,461 $ 95 $ 1,602 $ 11,489 Acquisitions — — — — — — — 1 1 Foreign currency translation — — — 5 — (6) — — (1) Other — — — — — — — (7) (7) September 30, 2023 $ 1,129 $ 2,102 $ 2,369 $ 922 $ 1,814 $ 1,455 $ 95 $ 1,596 $ 11,482 |
MEC | |
Segment Reporting Information [Line Items] | |
Segment Information | Segment Information MidAmerican Energy has identified two reportable segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and natural gas sales are established separately by regulatory agencies; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and evaluating performance. Common operating costs, interest income, interest expense and income tax expense are allocated to each segment based on certain factors, which primarily relate to the nature of the cost. The following tables provide information on a reportable segment basis (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue: Regulated electric $ 869 $ 1,009 $ 2,121 $ 2,342 Regulated natural gas 93 138 516 705 Other 2 1 6 3 Total operating revenue $ 964 $ 1,148 $ 2,643 $ 3,050 Operating income: Regulated electric $ 295 $ 245 $ 465 $ 383 Regulated natural gas (6) (15) 30 37 Total operating income 289 230 495 420 Interest expense (85) (79) (246) (235) Allowance for borrowed funds 6 3 14 12 Allowance for equity funds 16 12 40 41 Other, net 6 4 37 (11) Total income before income tax expense (benefit) $ 232 $ 170 $ 340 $ 227 As of September 30, December 31, Assets: Regulated electric $ 22,993 $ 22,092 Regulated natural gas 1,818 1,885 Other 1 1 Total assets $ 24,812 $ 23,978 |
MidAmerican Funding, LLC | |
Segment Reporting Information [Line Items] | |
Segment Information | Segment Information MidAmerican Funding has identified two reportable segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and natural gas sales are established separately by regulatory agencies; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and evaluating performance. Common operating costs, interest income, interest expense and income tax expense are allocated to each segment based on certain factors, which primarily relate to the nature of the cost. "Other" in the tables below consists of the financial results and assets of nonregulated operations, MHC and MidAmerican Funding. The following tables provide information on a reportable segment basis (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue: Regulated electric $ 869 $ 1,009 $ 2,121 $ 2,342 Regulated natural gas 93 138 516 705 Other 2 1 6 3 Total operating revenue $ 964 $ 1,148 $ 2,643 $ 3,050 Operating income: Regulated electric $ 295 $ 245 $ 465 $ 383 Regulated natural gas (6) (15) 30 37 Total operating income 289 230 495 420 Interest expense (89) (84) (258) (249) Allowance for borrowed funds 6 3 14 12 Allowance for equity funds 16 12 40 41 Other, net 6 2 49 (12) Total income before income tax expense (benefit) $ 228 $ 163 $ 340 $ 212 As of September 30, December 31, Assets (1) : Regulated electric $ 24,184 $ 23,283 Regulated natural gas 1,897 1,963 Other 13 8 Total assets $ 26,094 $ 25,254 (1) Assets by reportable segment reflect the assignment of goodwill to applicable reporting units. |
SPPC | |
Segment Reporting Information [Line Items] | |
Segment Information | Segment Information Sierra Pacific has identified two reportable operating segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and regulated natural gas sales are established separately by the PUCN; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and in evaluating performance. The following tables provide information on a reportable segment basis (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue: Regulated electric $ 345 $ 310 $ 942 $ 767 Regulated natural gas 27 20 167 100 Total operating revenue $ 372 $ 330 $ 1,109 $ 867 Operating income: Regulated electric $ 78 $ 74 $ 126 $ 123 Regulated natural gas — — 13 12 Total operating income 78 74 139 135 Interest expense (16) (15) (47) (42) Allowance for borrowed funds — 1 5 2 Allowance for equity funds 5 1 10 5 Interest and dividend income 6 5 18 12 Other, net 1 1 3 3 Total income before income tax expense (benefit) $ 74 $ 67 $ 128 $ 115 As of September 30, December 31, 2023 2022 Assets: Regulated electric $ 4,238 $ 4,224 Regulated natural gas 451 441 Other (1) 76 67 Total assets $ 4,765 $ 4,732 (1) Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments. |
General (Policies)
General (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
New Accounting Pronouncements | New Accounting PronouncementsIn March 2023, the FASB issued ASU No. 2023-02, amending FASB ASC Topic 323-740, "Investments—Equity Method and Joint Ventures—Income Taxes" which set forth the conditions needed to apply the proportional amortization method. The amendments in this update permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. This guidance is effective for interim and annual reporting periods beginning after December 15, 2023, with early adoption permitted, and is required to be adopted either using a modified retrospective approach by means of a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption or a retrospective approach by means of a cumulative-effect adjustment to retained earnings as of the beginning of the earliest fiscal year presented. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
PAC | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The Consolidated Statements of Comprehensive Income (Loss) have been omitted as net income (loss) materially equals comprehensive income (loss) for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
MEC | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the nine-month period ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Financial Statements. |
Cash and Cash Equivalents | Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist substantially of funds restricted for wildlife preservation. |
MidAmerican Funding, LLC | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the nine-month period ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
Cash and Cash Equivalents | Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist substantially of funds restricted for wildlife preservation. |
NPC | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
Cash and Cash Equivalents | Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist of funds restricted by the Public Utilities Commission of Nevada ("PUCN") for a certain renewable energy contract. |
SPPC | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023, and for the three- and nine-month periods ended September 30, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
Cash and Cash Equivalents | Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist of funds restricted by the Public Utilities Commission of Nevada ("PUCN") for a certain renewable energy contract |
EEGH | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023 and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023 are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
EGTS | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2023 and for the three- and nine-month periods ended September 30, 2023 and 2022. The results of operations for the three- and nine-month periods ended September 30, 2023 are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
Cash and Cash Equivalents and_2
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 2,047 $ 1,591 Investments and restricted cash and cash equivalents 283 173 Investments and restricted cash and cash equivalents and investments 53 53 Total cash and cash equivalents and restricted cash and cash equivalents $ 2,383 $ 1,817 |
PAC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 98 $ 641 Restricted cash and cash equivalents included in other current assets 11 7 Restricted cash included in other assets 36 26 Total cash and cash equivalents and restricted cash and cash equivalents $ 145 $ 674 |
MEC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 700 $ 258 Restricted cash and cash equivalents in other current assets 9 10 Total cash and cash equivalents and restricted cash and cash equivalents $ 709 $ 268 |
MidAmerican Funding, LLC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 700 $ 261 Restricted cash and cash equivalents in other current assets 9 10 Total cash and cash equivalents and restricted cash and cash equivalents $ 709 $ 271 |
NPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 44 $ 43 Restricted cash and cash equivalents included in other current assets 16 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 60 $ 60 |
SPPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 39 $ 49 Restricted cash and cash equivalents included in other current assets 7 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 46 $ 56 |
EEGH | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 94 $ 65 Restricted cash and cash equivalents included in other current assets 31 30 Total cash and cash equivalents and restricted cash and cash equivalents $ 125 $ 95 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | Property, plant and equipment, net consists of the following (in millions): As of Depreciable September 30, December 31, Life 2023 2022 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 93,667 $ 92,759 Interstate natural gas pipeline assets 3-80 years 18,800 18,328 112,467 111,087 Accumulated depreciation and amortization (35,752) (34,599) Regulated assets, net 76,715 76,488 Nonregulated assets: Independent power plants 2-50 years 8,461 8,545 Cove Point LNG facility 40 years 3,415 3,412 Other assets 2-30 years 2,792 2,693 14,668 14,650 Accumulated depreciation and amortization (3,703) (3,452) Nonregulated assets, net 10,965 11,198 87,680 87,686 Construction work-in-progress 8,947 5,357 Property, plant and equipment, net $ 96,627 $ 93,043 |
PAC | |
Property, Plant and Equipment [Line Items] | |
Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following (in millions): As of September 30, December 31, Depreciable Life 2023 2022 Utility plant: Generation 15 - 59 years $ 13,814 $ 13,726 Transmission 60 - 90 years 8,140 8,051 Distribution 20 - 75 years 8,840 8,477 Intangible plant (1) and other 5 - 75 years 2,810 2,755 Utility plant in-service 33,604 33,009 Accumulated depreciation and amortization (11,649) (11,093) Utility plant in-service, net 21,955 21,916 Nonregulated, net of accumulated depreciation and amortization 14 - 95 years 18 18 21,973 21,934 Construction work-in-progress 4,126 2,496 Property, plant and equipment, net $ 26,099 $ 24,430 (1) Computer software costs included in intangible plant are initially assigned a depreciable life of 5 to 10 years. |
MEC | |
Property, Plant and Equipment [Line Items] | |
Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following (in millions): As of September 30, December 31, Depreciable Life 2023 2022 Utility plant: Generation 20-62 years $ 17,550 $ 18,582 Transmission 55-80 years 2,758 2,662 Electric distribution 15-80 years 5,163 4,931 Natural gas distribution 30-75 years 2,239 2,144 Utility plant in-service 27,710 28,319 Accumulated depreciation and amortization (7,674) (8,024) Utility plant in-service, net 20,036 20,295 Nonregulated property, net of accumulated depreciation and amortization 20-50 years 6 6 20,042 20,301 Construction work-in-progress 1,479 790 Property, plant and equipment, net $ 21,521 $ 21,091 |
NPC | |
Property, Plant and Equipment [Line Items] | |
Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following (in millions): As of Depreciable Life September 30, December 31, 2023 2022 Utility plant: Generation 30 - 55 years $ 4,113 $ 3,977 Transmission 45 - 70 years 1,585 1,562 Distribution 20 - 65 years 4,365 4,134 General and intangible plant 5 - 65 years 902 871 Utility plant 10,965 10,544 Accumulated depreciation and amortization (3,797) (3,624) Utility plant, net 7,168 6,920 Nonregulated, net of accumulated depreciation and amortization 45 years 1 1 7,169 6,921 Construction work-in-progress 1,100 485 Property, plant and equipment, net $ 8,269 $ 7,406 |
SPPC | |
Property, Plant and Equipment [Line Items] | |
Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following (in millions): As of Depreciable Life September 30, December 31, 2023 2022 Utility plant: Electric generation 25 - 70 years $ 1,298 $ 1,298 Electric transmission 50 - 76 years 1,000 993 Electric distribution 20 - 76 years 2,034 1,983 Electric general and intangible plant 5 - 65 years 227 219 Natural gas distribution 35 - 70 years 470 455 Natural gas general and intangible plant 5 - 65 years 17 15 Common general 5 - 65 years 386 380 Utility plant 5,432 5,343 Accumulated depreciation and amortization (2,072) (1,992) 3,360 3,351 Construction work-in-progress 385 236 Property, plant and equipment, net $ 3,745 $ 3,587 |
EEGH | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | Property, plant and equipment, net consists of the following (in millions): As of September 30, December 31, Depreciable Life 2023 2022 Utility plant: Interstate natural gas transmission and storage assets 21 - 51 years $ 9,197 $ 8,922 Intangible plant 5 - 17 years 117 113 Utility plant in-service 9,314 9,035 Accumulated depreciation and amortization (3,162) (3,039) Utility plant in-service, net 6,152 5,996 Nonutility plant: LNG facility 40 years 4,525 4,522 Intangible plant 14 years 25 25 Nonutility plant 4,550 4,547 Accumulated depreciation and amortization (634) (542) Nonutility plant, net 3,916 4,005 10,068 10,001 Construction work-in-progress 276 201 Property, plant and equipment, net $ 10,344 $ 10,202 |
EGTS | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | Property, plant and equipment, net consists of the following (in millions): As of September 30, December 31, Depreciable Life 2023 2022 Interstate natural gas transmission and storage assets 28 - 50 years $ 6,946 $ 6,724 Intangible plant 12 - 19 years 81 79 Plant in-service 7,027 6,803 Accumulated depreciation and amortization (2,533) (2,440) 4,494 4,363 Construction work-in-progress 205 141 Property, plant and equipment, net $ 4,699 $ 4,504 |
Investments and Restricted Ca_2
Investments and Restricted Cash and Cash Equivalents and Investments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Investments and Restricted Cash | Investments and restricted cash and cash equivalents and investments consists of the following (in millions): As of September 30, December 31, 2023 2022 Investments: BYD Company Limited common stock $ 2,794 $ 3,763 U.S. Treasury Bills 627 1,931 Rabbi trusts 461 433 Other 327 335 Total investments 4,209 6,462 Equity method investments: BHE Renewables tax equity investments 4,180 4,535 Electric Transmission Texas, LLC 670 623 Iroquois Gas Transmission System, L.P. 582 600 Other 376 304 Total equity method investments 5,808 6,062 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 706 664 Other restricted cash and cash equivalents 336 226 Total restricted cash and cash equivalents and investments 1,042 890 Total investments and restricted cash and cash equivalents and investments $ 11,059 $ 13,414 Reflected as: Other current assets $ 955 $ 2,141 Noncurrent assets 10,104 11,273 Total investments and restricted cash and cash equivalents and investments $ 11,059 $ 13,414 |
Unrealized Gain (Loss) on Investments | (Losses) gains on marketable securities, net recognized during the period consists of the following (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Unrealized (losses) gains recognized on marketable securities held at the reporting date $ (97) $ (3,168) $ 573 $ (2,002) Net gains (losses) recognized on marketable securities sold during the period 21 (102) 353 3 (Losses) gains on marketable securities, net $ (76) $ (3,270) $ 926 $ (1,999) |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 2,047 $ 1,591 Investments and restricted cash and cash equivalents 283 173 Investments and restricted cash and cash equivalents and investments 53 53 Total cash and cash equivalents and restricted cash and cash equivalents $ 2,383 $ 1,817 |
EEGH | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Investments and Restricted Cash | Investments and restricted cash and cash equivalents consists of the following (in millions): As of September 30, December 31, 2023 2022 Investments: Investment funds $ 18 $ 14 Equity method investments: Iroquois 246 264 Total investments 264 278 Restricted cash and cash equivalents: Customer deposits 31 30 Total restricted cash and cash equivalents 31 30 Total investments and restricted cash and cash equivalents $ 295 $ 308 Reflected as: Other current assets $ 31 $ 30 Noncurrent assets 264 278 Total investments and restricted cash and cash equivalents $ 295 $ 308 |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 94 $ 65 Restricted cash and cash equivalents included in other current assets 31 30 Total cash and cash equivalents and restricted cash and cash equivalents $ 125 $ 95 |
EGTS | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Investments and Restricted Cash | Investments and restricted cash and cash equivalents consists of the following (in millions): As of September 30, December 31, 2023 2022 Investments: Investment funds $ 18 $ 14 Restricted cash and cash equivalents: Customer deposits 29 29 Total restricted cash and cash equivalents 29 29 Total investments and restricted cash and cash equivalents $ 47 $ 43 Reflected as: Current assets $ 29 $ 29 Noncurrent assets 18 14 Total investments and restricted cash and cash equivalents $ 47 $ 43 |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented on the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of September 30, December 31, 2023 2022 Cash and cash equivalents $ 12 $ 16 Restricted cash and cash equivalents 29 29 Total cash and cash equivalents and restricted cash and cash equivalents $ 41 $ 45 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income (loss) before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits 382 36 (67) (165) State income tax, net of federal income tax impacts 44 — (5) (2) Income tax effect of foreign income 9 — 1 (4) Effects of ratemaking 56 5 (8) (18) Equity income 9 — (2) (4) Noncontrolling interest 11 2 (4) (9) Other, net — — 1 3 Effective income tax rate 532 % 64 % (63) % (178) % |
PAC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income (loss) before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit 4 4 4 4 Federal income tax credits 6 (22) 10 (22) Effects of ratemaking (1) 4 (13) 6 (12) Valuation allowance — — 1 1 Other — — — 1 Effective income tax rate 35 % (10) % 42 % (7) % (1) Effects of ratemaking is primarily attributable to activity associated with excess deferred income taxes. |
MEC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to MidAmerican Energy's effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (47) (69) (142) (222) State income tax, net of federal income tax impacts (8) (21) (9) (21) Effects of ratemaking (5) (13) (5) (12) Other, net (1) 3 (1) 1 Effective income tax rate (40) % (79) % (136) % (233) % |
MidAmerican Funding, LLC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to MidAmerican Funding's effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (48) (72) (142) (238) State income tax, net of federal income tax impacts (8) (22) (9) (24) Effects of ratemaking (5) (13) (5) (13) Other, net (1) 2 (1) 3 Effective income tax rate (41) % (84) % (136) % (251) % |
NPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (12) (10) (12) (10) Effective income tax rate 9 % 11 % 9 % 11 % |
SPPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (8) (8) (8) (8) Other 1 (1) — — Effective income tax rate 14 % 12 % 13 % 13 % |
EEGH | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit (8) 6 (1) 5 Equity interest 1 4 1 2 Effects of ratemaking — — — (1) Noncontrolling interest (10) (10) (10) (10) Other, net (1) — — — Effective income tax rate 3 % 21 % 11 % 17 % |
EGTS | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit 6 11 5 8 Other, net — 1 — — Effective income tax rate 27 % 33 % 26 % 29 % |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Net periodic benefit cost (credit) for the domestic pension and other postretirement benefit plans included the following components (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Pension: Service cost $ 3 $ 7 $ 12 $ 20 Interest cost 27 20 82 58 Expected return on plan assets (30) (28) (92) (82) Settlement — — (5) 2 Net amortization 4 4 11 13 Net periodic benefit cost $ 4 $ 3 $ 8 $ 11 Other postretirement: Service cost $ 3 $ 2 $ 6 $ 8 Interest cost 8 5 22 15 Expected return on plan assets (7) (8) (25) (22) Net amortization (1) — (2) (1) Net periodic benefit cost (credit) $ 3 $ (1) $ 1 $ — Net periodic benefit cost (credit) for the United Kingdom pension plan included the following components (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Service cost $ 2 $ 3 $ 5 $ 10 Interest cost 14 8 42 27 Expected return on plan assets (20) (22) (60) (70) Net amortization 7 6 20 18 Net periodic benefit cost (credit) $ 3 $ (5) $ 7 $ (15) |
PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Net periodic benefit cost (credit) for the pension and other postretirement benefit plans included the following components (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Pension: Interest cost $ 10 $ 8 $ 29 $ 22 Expected return on plan assets (12) (11) (36) (32) Net amortization 3 4 9 12 Net periodic benefit cost $ 1 $ 1 $ 2 $ 2 Other postretirement: Service cost $ — $ — $ 1 $ 1 Interest cost 3 2 8 6 Expected return on plan assets (3) (3) (10) (8) Net amortization (1) 1 (2) 1 Net periodic benefit credit $ (1) $ — $ (3) $ — |
MEC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Net periodic benefit cost (credit) for the plans of MidAmerican Energy and the aforementioned affiliates included the following components (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Pension: Service cost $ 2 $ 5 $ 8 $ 14 Interest cost 8 5 24 15 Expected return on plan assets (7) (7) (23) (21) Settlement — — (5) 2 Net amortization — — — 1 Net periodic benefit cost $ 3 $ 3 $ 4 $ 11 Other postretirement: Service cost $ 2 $ 2 $ 4 $ 6 Interest cost 4 2 10 6 Expected return on plan assets (3) (4) (11) (11) Net amortization — (1) — (2) Net periodic benefit cost (credit) $ 3 $ (1) $ 3 $ (1) |
NPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Amounts Recognized in Balance Sheet | Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following (in millions): As of September 30, December 31, 2023 2022 Qualified Pension Plan: Other non-current assets $ 26 $ 27 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (6) (6) Other Postretirement Plans: Other non-current assets 7 7 |
SPPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Amounts Recognized in Balance Sheet | Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following (in millions): As of September 30, December 31, 2023 2022 Qualified Pension Plan: Other non-current assets $ 45 $ 43 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (5) (5) Other Postretirement Plans: Other non-current assets 1 — Other long-term liabilities — (2) |
Risk Management and Hedging A_2
Risk Management and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Derivative [Line Items] | |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of (in millions): Unit of September 30, December 31, Measure 2023 2022 Electricity purchases Megawatt hours — 1 Natural gas purchases Decatherms 70 52 |
PAC | |
Derivative [Line Items] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table, which reflects master netting arrangements and excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of PacifiCorp's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Derivative Contracts - Other Other Current Other Current Long-term Assets Assets Liabilities Liabilities Total As of September 30, 2023 Not designated as hedging contracts (1) : Commodity assets $ 66 $ 11 $ 5 $ — $ 82 Commodity liabilities (11) (4) (17) — (32) Total 55 7 (12) — 50 Total derivatives 55 7 (12) — 50 Cash collateral (payable) receivable (8) — 5 — (3) Total derivatives - net basis $ 47 $ 7 $ (7) $ — $ 47 As of December 31, 2022 Not designated as hedging contracts (1) : Commodity assets $ 279 $ 27 $ 9 $ 3 $ 318 Commodity liabilities (22) (7) (14) (5) (48) Total 257 20 (5) (2) 270 Total derivatives 257 20 (5) (2) 270 Cash collateral payable (2) (73) (5) — — (78) Total derivatives - net basis $ 184 $ 15 $ (5) $ (2) $ 192 (1) PacifiCorp's commodity derivatives are generally included in rates. As of September 30, 2023, a regulatory liability of $50 million was recorded related to the net derivative asset of $50 million. As of December 31, 2022, a regulatory liability of $270 million was recorded related to the net derivative asset of $270 million. (2) As of December 31, 2022, PacifiCorp had an additional $12 million cash collateral payable that was not required to be netted against total derivatives. |
Schedule of Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Contracts | The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory (liabilities) assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory (liabilities) assets, as well as amounts reclassified to earnings (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ (9) $ (223) $ (270) $ (53) Changes in fair value recognized in regulatory (liabilities) assets (9) (79) 83 (296) Net gains (losses) reclassified to operating revenue — 7 (8) (4) Net (losses) gains reclassified to energy costs (32) 129 145 187 Ending balance $ (50) $ (166) $ (50) $ (166) |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of (in millions): Unit of September 30, December 31, Measure 2023 2022 Electricity purchases, net Megawatt hours 2 2 Natural gas purchases Decatherms 126 127 |
NPC | |
Derivative [Line Items] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Nevada Power's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Derivative Other Contracts - Other Current Current Long-term Assets Liabilities Liabilities Total As of September, 30 2023 Not designated as hedging contracts (1) - Total derivatives - commodity liabilities $ — $ (49) $ (9) $ (58) As of December 31, 2022 Not designated as hedging contracts (1) : Commodity assets $ 23 $ — $ — $ 23 Commodity liabilities — (51) (24) (75) Total derivatives - net basis $ 23 $ (51) $ (24) $ (52) (1) Nevada Power's commodity derivatives not designated as hedging contracts are included in regulated rates. As of September 30, 2023 a regulatory asset of $58 million was recorded related to the net derivative liability of $58 million. As of December 31, 2022 a regulatory asset of $52 million was recorded related to the net derivative liability of $52 million. |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of (in millions): Unit of September 30, December 31, Measure 2023 2022 Electricity purchases Megawatt hours 1 2 Natural gas purchases Decatherms 162 109 |
SPPC | |
Derivative [Line Items] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Sierra Pacific's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Other Other Current Current Long-term Assets Liabilities Liabilities Total As of September, 30 2023 Not designated as hedging contracts (1) - Total derivatives - commodity liabilities $ — $ (11) $ (1) $ (12) As of December 31, 2022 Not designated as hedging contracts (1) : Commodity assets $ 8 $ — $ — $ 8 Commodity liabilities — (14) (7) (21) Total derivatives - net basis $ 8 $ (14) $ (7) $ (13) (1) Sierra Pacific's commodity derivatives not designated as hedging contracts are included in regulated rates. As of September 30, 2023 a net regulatory asset of $12 million was recorded related to the net derivative liability of $12 million. As of December 31, 2022 a net regulatory asset of $13 million was recorded related to the net derivative liability of $13 million. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents the Company's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of September 30, 2023: Assets: Commodity derivatives $ — $ 170 $ 12 $ (37) $ 145 Interest rate derivatives 48 66 9 — 123 Mortgage loans held for sale — 616 — — 616 Money market mutual funds 1,798 — — — 1,798 Debt securities: U.S. government obligations 866 — — — 866 Corporate obligations — 74 — — 74 Municipal obligations — 3 — — 3 Equity securities: U.S. companies 380 — — — 380 International companies 2,802 — — — 2,802 Investment funds 285 — — — 285 $ 6,179 $ 929 $ 21 $ (37) $ 7,092 Liabilities: Commodity derivatives $ (4) $ (45) $ (96) $ 45 $ (100) Foreign currency exchange rate derivatives — (18) — — (18) Interest rate derivatives — — (3) — (3) $ (4) $ (63) $ (99) $ 45 $ (121) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2022: Assets: Commodity derivatives $ 6 $ 614 $ 51 $ (194) $ 477 Interest rate derivatives 50 54 8 — 112 Mortgage loans held for sale — 474 — — 474 Money market mutual funds 1,178 — — — 1,178 Debt securities: U.S. government obligations 2,146 — — — 2,146 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 3,771 — — — 3,771 Investment funds 231 — — — 231 $ 7,742 $ 1,217 $ 59 $ (194) $ 8,824 Liabilities: Commodity derivatives $ (8) $ (206) $ (110) $ 106 $ (218) Foreign currency exchange rate derivatives — (21) — — (21) Interest rate derivatives — (2) (2) 1 (3) $ (8) $ (229) $ (112) $ 107 $ (242) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $8 million as of September 30, 2023 and payable of $87 million as of December 31, 2022. |
Reconciliation of Fair Value Assets and Liabilities | The following table reconciles the beginning and ending balances of the Company's financial assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions). Transfers out of Level 3 occur primarily due to increased price observability. Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, Interest Interest Commodity Rate Commodity Rate Derivatives Derivatives Derivatives Derivatives 2023: Beginning balance $ (174) $ 11 $ (59) $ 6 Changes included in earnings (1) (1) (5) 9 — Changes in fair value recognized in OCI — — (3) — Changes in fair value recognized in net regulatory assets (48) — (231) — Purchases 1 — 1 — Settlements 138 — 199 — Ending balance $ (84) $ 6 $ (84) $ 6 2022: Beginning balance $ (178) $ 21 $ (151) $ 19 Changes included in earnings (1) (14) (22) (96) (20) Changes in fair value recognized in OCI 3 — 13 — Changes in fair value recognized in net regulatory assets (5) — (64) — Purchases 1 — 2 — Settlements 138 — 172 — Transfers out of Level 3 into Level 2 — — 69 — Ending balance $ (55) $ (1) $ (55) $ (1) (1) Changes included in earnings for interest rate derivatives are reported net of amounts related to the satisfaction of the associated loan commitment. |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of the Company's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 52,720 $ 45,166 $ 51,635 $ 46,906 |
PAC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents PacifiCorp's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of September 30, 2023: Assets: Commodity derivatives $ — $ 82 $ — $ (28) $ 54 Money market mutual funds 120 — — — 120 Investment funds 29 — — — 29 $ 149 $ 82 $ — $ (28) $ 203 Liabilities - Commodity derivatives $ — $ (32) $ — $ 25 $ (7) As of December 31, 2022: Assets: Commodity derivatives $ — $ 318 $ — $ (119) $ 199 Money market mutual funds 649 — — — 649 Investment funds 23 — — — 23 $ 672 $ 318 $ — $ (119) $ 871 Liabilities - Commodity derivatives $ — $ (48) $ — $ 41 $ (7) (1) Represents netting under master netting arrangements and a net cash collateral payable of $3 million and $78 million as of September 30, 2023 and December 31, 2022, respectively. As of December 31, 2022, PacifiCorp had an additional $12 million cash collateral payable that was not required to be netted against total derivatives. |
Fair Value, by Balance Sheet Grouping | PacifiCorp's long-term debt is carried at cost on the Consolidated Balance Sheets. The fair value of PacifiCorp's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of PacifiCorp's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of PacifiCorp's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 10,457 $ 8,834 $ 9,666 $ 9,045 |
MEC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents MidAmerican Energy's financial assets and liabilities recognized on the Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of September 30, 2023: Assets: Commodity derivatives $ — $ 8 $ 2 $ (5) $ 5 Money market mutual funds 707 — — — 707 Debt securities: U.S. government obligations 239 — — — 239 International government obligations — — — — — Corporate obligations — 74 — — 74 Municipal obligations — 3 — — 3 Equity securities: U.S. companies 380 — — — 380 International companies 8 — — — 8 Investment funds 22 — — — 22 $ 1,356 $ 85 $ 2 $ (5) $ 1,438 Liabilities - commodity derivatives $ — $ (20) $ (17) $ 17 $ (20) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2022: Assets: Commodity derivatives $ 1 $ 37 $ 6 $ (10) $ 34 Money market mutual funds 225 — — — 225 Debt securities: U.S. government obligations 215 — — — 215 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 8 — — — 8 Investment funds 16 — — — 16 $ 825 $ 112 $ 6 $ (10) $ 933 Liabilities - commodity derivatives $ — $ (12) $ (1) $ 10 $ (3) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $12 million and $— million as of September 30, 2023 and December 31, 2022, respectively. |
Fair Value of Derivative Asset (Liability) Reconciliation | The following table reconciles the beginning and ending balances of MidAmerican Energy's commodity derivative assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ (14) $ 26 $ 5 $ (5) Changes in fair value recognized in net regulatory assets (9) (2) (36) 42 Settlements 8 (10) 16 (23) Ending balance $ (15) $ 14 $ (15) $ 14 |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of MidAmerican Energy's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 8,765 $ 7,594 $ 7,729 $ 6,964 |
MidAmerican Funding, LLC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of MidAmerican Funding's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 9,005 $ 7,844 $ 7,969 $ 7,219 |
NPC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents Nevada Power's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of September 30, 2023: Assets: Money market mutual funds $ 34 — — $ 34 Investment funds 4 — — 4 $ 38 $ — $ — $ 38 Liabilities - commodity derivatives $ — $ — $ (58) $ (58) As of December 31, 2022: Assets: Commodity derivatives $ — $ — $ 23 $ 23 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 23 $ 60 Liabilities - commodity derivatives $ — $ — $ (75) $ (75) |
Fair Value of Derivative Asset (Liability) Reconciliation | The following table reconciles the beginning and ending balances of Nevada Power's commodity derivative assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ (126) $ (175) $ (52) $ (113) Changes in fair value recognized in regulatory assets (31) (4) (150) (81) Settlements 99 113 144 128 Ending balance $ (58) $ (66) $ (58) $ (66) |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of Nevada Power's long‑term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,391 $ 3,146 $ 3,195 $ 3,114 |
SPPC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents Sierra Pacific's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of September 30, 2023: Assets: Money market mutual funds $ 38 — — $ 38 Investment funds 1 — — 1 $ 39 $ — $ — $ 39 Liabilities - commodity derivatives $ — $ — $ (12) $ (12) As of December 31, 2022: Assets: Commodity derivatives $ — $ — $ 8 $ 8 Money market mutual funds 49 — — 49 Investment funds 1 — — 1 $ 50 $ — $ 8 $ 58 Liabilities - commodity derivatives $ — $ — $ (21) $ (21) |
Reconciliation of Fair Value Assets and Liabilities | The following table reconciles the beginning and ending balances of Sierra Pacific's commodity derivative assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ (36) $ (54) $ (13) $ (33) Changes in fair value recognized in regulatory assets (8) 1 (45) (25) Settlements 32 36 46 41 Ending balance $ (12) $ (17) $ (12) $ (17) |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of Sierra Pacific's long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,292 $ 1,218 $ 1,148 $ 1,111 |
EEGH | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents Eastern Energy Gas' financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of September 30, 2023: Assets: Money market mutual funds $ 94 $ — $ — $ 94 Equity securities: Investment funds 18 — — 18 $ 112 $ — $ — $ 112 Liabilities: Foreign currency exchange rate derivatives $ — $ (18) $ — $ (18) $ — $ (18) $ — $ (18) As of December 31, 2022: Assets: Commodity derivatives $ — $ 1 $ — $ 1 Money market mutual funds 42 — — 42 Equity securities: Investment funds 14 — — 14 $ 56 $ 1 $ — $ 57 Liabilities: Foreign currency exchange rate derivatives $ — $ (20) $ — $ (20) $ — $ (20) $ — $ (20) |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of Eastern Energy Gas' long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,642 $ 3,200 $ 3,892 $ 3,510 |
EGTS | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents EGTS' financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of September 30, 2023: Assets: Money market mutual funds $ 12 $ — $ — $ 12 Equity securities: Investment funds 18 — — 18 $ 30 $ — $ — $ 30 As of December 31, 2022: Assets: Commodity derivatives $ — $ 1 $ — $ 1 Money market mutual funds 8 — — 8 Equity securities: Investment funds 14 — — 14 $ 22 $ 1 $ — $ 23 |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of EGTS' long-term debt (in millions): As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 1,583 $ 1,275 $ 1,582 $ 1,337 |
Commitment and Contingencies (T
Commitment and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Loss Contingencies [Line Items] | |
Schedule of Loss Contingencies by Contingency | The following table presents changes in PacifiCorp's liability for estimated losses associated with the Wildfires (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ 948 $ 477 $ 424 $ 252 Accrued losses 1,387 — 1,928 225 Payments (57) — (74) — Ending balance $ 2,278 $ 477 $ 2,278 $ 477 |
PAC | |
Loss Contingencies [Line Items] | |
Schedule of Loss Contingencies by Contingency | The following table presents changes in PacifiCorp's liability for estimated losses associated with the Wildfires (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Beginning balance $ 948 $ 477 $ 424 $ 252 Accrued losses 1,387 — 1,928 225 Payments (57) — (74) — Ending balance $ 2,278 $ 477 $ 2,278 $ 477 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes the Company's energy products and services revenue from contracts with customers ("Customer Revenue") by regulated and nonregulated, with further disaggregation of regulated by line of business, including a reconciliation to the Company's reportable segment information included in Note 14 (in millions): For the Three-Month Period Ended September 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,543 $ 773 $ 1,448 $ — $ — $ — $ — $ (1) $ 3,763 Retail gas — 77 28 — — — — — 105 Wholesale 47 81 15 — — — — (2) 141 Transmission and 44 15 21 248 — 165 — — 493 Interstate pipeline — — — — 551 — — (30) 521 Other 31 — — — 8 — — — 39 Total Regulated 1,665 946 1,512 248 559 165 — (33) 5,062 Nonregulated — 2 2 35 230 30 457 (2) 754 Total Customer Revenue 1,665 948 1,514 283 789 195 457 (35) 5,816 Other revenue 11 16 4 32 15 1 62 1 142 Total $ 1,676 $ 964 $ 1,518 $ 315 $ 804 $ 196 $ 519 $ (34) $ 5,958 For the Nine-Month Period Ended September 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 4,124 $ 1,833 $ 3,339 $ — $ — $ — $ — $ (1) $ 9,295 Retail gas — 463 167 — — — — — 630 Wholesale 134 233 55 — — — — (1) 421 Transmission and 116 42 58 773 — 496 — — 1,485 Interstate pipeline — — — — 1,971 — — (113) 1,858 Other 87 — — — 9 — — — 96 Total Regulated 4,461 2,571 3,619 773 1,980 496 — (115) 13,785 Nonregulated — 6 3 113 766 100 1,138 (1) 2,125 Total Customer Revenue 4,461 2,577 3,622 886 2,746 596 1,138 (116) 15,910 Other revenue 26 66 14 89 49 (3) 211 — 452 Total $ 4,487 $ 2,643 $ 3,636 $ 975 $ 2,795 $ 593 $ 1,349 $ (116) $ 16,362 For the Three-Month Period Ended September 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,465 $ 799 $ 1,250 $ — $ — $ — $ — $ (1) $ 3,513 Retail gas — 97 20 — — — — 1 118 Wholesale 69 208 33 — — — — — 310 Transmission and 54 16 24 260 — 168 — — 522 Interstate pipeline — — — — 594 — — (26) 568 Other 24 — — — 1 — — (1) 24 Total Regulated 1,612 1,120 1,327 260 595 168 — (27) 5,055 Nonregulated — 1 — 71 326 16 440 1 855 Total Customer Revenue 1,612 1,121 1,327 331 921 184 440 (26) 5,910 Other revenue 23 27 7 28 43 (7) 67 (3) 185 Total $ 1,635 $ 1,148 $ 1,334 $ 359 $ 964 $ 177 $ 507 $ (29) $ 6,095 For the Nine-Month Period Ended September 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 3,817 $ 1,865 $ 2,680 $ — $ — $ — $ — $ (2) $ 8,360 Retail gas — 570 99 — — — — 1 670 Wholesale 179 488 68 — — — — (2) 733 Transmission and 131 44 59 803 — 516 — — 1,553 Interstate pipeline — — — — 1,863 — — (94) 1,769 Other 72 — 1 — 2 — — (1) 74 Total Regulated 4,199 2,967 2,907 803 1,865 516 — (98) 13,159 Nonregulated — 3 1 128 889 38 1,156 — 2,215 Total Customer Revenue 4,199 2,970 2,908 931 2,754 554 1,156 (98) 15,374 Other revenue 47 80 18 88 101 (11) 165 (4) 484 Total $ 4,246 $ 3,050 $ 2,926 $ 1,019 $ 2,855 $ 543 $ 1,321 $ (102) $ 15,858 (1) The BHE and Other reportable segment represents amounts related principally to other corporate entities, corporate functions and intersegment eliminations. Real Estate Services The following table summarizes the Company's real estate services Customer Revenue by line of business (in millions): HomeServices Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Brokerage $ 1,125 $ 1,310 $ 3,126 $ 3,946 Franchise 16 18 43 55 Total Customer Revenue 1,141 1,328 3,169 4,001 Mortgage and other revenue 71 77 214 283 Total $ 1,212 $ 1,405 $ 3,383 $ 4,284 Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue by country: U.S. $ 6,677 $ 6,967 $ 18,241 $ 18,588 United Kingdom 308 351 936 1,011 Canada 179 174 529 535 Australia 6 8 39 8 Total operating revenue by country $ 7,170 $ 7,500 $ 19,745 $ 20,142 Income (loss) before income tax expense (benefit) and equity income (loss) by country: U.S. $ (271) $ (2,068) $ 1,462 $ 395 United Kingdom 68 118 274 344 Canada 48 43 135 135 Australia 11 11 13 12 Other (2) 1 (2) (2) Total income (loss) before income tax expense (benefit) and equity income (loss) by country $ (146) $ (1,895) $ 1,882 $ 884 |
Summary of Remaining Performance Obligations | The following table summarizes the Company's revenue it expects to recognize in future periods related to significant unsatisfied remaining performance obligations for fixed contracts with expected durations in excess of one year as of September 30, 2023, by reportable segment (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total BHE Pipeline Group $ 2,972 $ 20,278 $ 23,250 BHE Transmission 164 — 164 Total $ 3,136 $ 20,278 $ 23,414 |
PAC | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes PacifiCorp's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Retail: Residential $ 601 $ 576 $ 1,636 $ 1,498 Commercial 513 461 1,372 1,224 Industrial 310 310 870 860 Other retail 119 118 246 235 Total retail 1,543 1,465 4,124 3,817 Wholesale 47 69 134 179 Transmission 44 54 116 131 Other Customer Revenue 31 24 87 72 Total Customer Revenue 1,665 1,612 4,461 4,199 Other revenue 11 23 26 47 Total operating revenue $ 1,676 $ 1,635 $ 4,487 $ 4,246 |
MEC | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes MidAmerican Energy's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class, including a reconciliation to MidAmerican Energy's reportable segment information included in Note 12 (in millions): For the Three-Month Period Ended September 30, 2023 For the Nine-Month Period Ended September 30, 2023 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 254 $ 48 $ — $ 302 $ 594 $ 305 $ — $ 899 Commercial 111 14 — 125 272 109 — 381 Industrial 360 3 — 363 846 14 — 860 Natural gas transportation services — 11 — 11 — 34 — 34 Other retail 48 1 — 49 121 1 — 122 Total retail 773 77 — 850 1,833 463 — 2,296 Wholesale 66 15 — 81 182 51 — 233 Multi-value transmission projects 15 — — 15 42 — — 42 Other Customer Revenue — — 2 2 — — 6 6 Total Customer Revenue 854 92 2 948 2,057 514 6 2,577 Other revenue 15 1 — 16 64 2 — 66 Total operating revenue $ 869 $ 93 $ 2 $ 964 $ 2,121 $ 516 $ 6 $ 2,643 For the Three-Month Period Ended September 30, 2022 For the Nine-Month Period Ended September 30, 2022 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 267 $ 58 $ — $ 325 $ 620 $ 370 $ — $ 990 Commercial 117 20 — 137 282 139 — 421 Industrial 364 9 — 373 839 27 — 866 Natural gas transportation services — 8 — 8 — 31 — 31 Other retail 51 2 — 53 124 3 — 127 Total retail 799 97 — 896 1,865 570 — 2,435 Wholesale 167 41 — 208 355 133 — 488 Multi-value transmission projects 16 — — 16 44 — — 44 Other Customer Revenue — — 1 1 — — 3 3 Total Customer Revenue 982 138 1 1,121 2,264 703 3 2,970 Other revenue 27 — — 27 78 2 — 80 Total operating revenue $ 1,009 $ 138 $ 1 $ 1,148 $ 2,342 $ 705 $ 3 $ 3,050 |
NPC | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes Nevada Power's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Retail: Residential $ 668 $ 582 $ 1,365 $ 1,149 Commercial 199 172 512 398 Industrial 246 202 557 404 Other 6 5 16 9 Total fully bundled 1,119 961 2,450 1,960 Distribution only service 3 5 10 15 Total retail 1,122 966 2,460 1,975 Wholesale, transmission and other 18 31 51 66 Total Customer Revenue 1,140 997 2,511 2,041 Other revenue 5 6 14 16 Total operating revenue $ 1,145 $ 1,003 $ 2,525 $ 2,057 |
SPPC | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes Sierra Pacific's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class, including a reconciliation to Sierra Pacific's reportable segment information included in Note 11 (in millions): Three-Month Periods Ended September 30, 2023 2022 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 116 $ 15 $ 131 $ 107 $ 13 $ 120 Commercial 111 6 117 100 5 105 Industrial 96 5 101 73 2 75 Other — 1 1 2 — 2 Total fully bundled 323 27 350 282 20 302 Distribution only service 2 — 2 1 — 1 Total retail 325 27 352 283 20 303 Wholesale, transmission and other 20 — 20 26 — 26 Total Customer Revenue 345 27 372 309 20 329 Other revenue — — — 1 — 1 Total operating revenue $ 345 $ 27 $ 372 $ 310 $ 20 $ 330 Nine-Month Periods Ended September 30, 2023 2022 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 326 $ 100 $ 426 $ 270 $ 64 $ 334 Commercial 304 45 349 251 26 277 Industrial 241 20 261 175 9 184 Other 3 1 4 4 — 4 Total fully bundled 874 166 1,040 700 99 799 Distribution only service 4 — 4 4 — 4 Total retail 878 166 1,044 704 99 803 Wholesale, transmission and other 64 — 64 61 — 61 Total Customer Revenue 942 166 1,108 765 99 864 Other revenue — 1 1 2 1 3 Total operating revenue $ 942 $ 167 $ 1,109 $ 767 $ 100 $ 867 |
EEGH | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes Eastern Energy Gas' revenue from contracts with customers ("Customer Revenue") by regulated and nonregulated, with further disaggregation of regulated by line of business (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Regulated: Gas transmission and storage $ 281 $ 296 $ 907 $ 867 Other 8 1 9 1 Total regulated 289 297 916 868 Nonregulated 187 254 630 673 Total Customer Revenue 476 551 1,546 1,541 Other revenue (1) (1) (4) 3 (8) Total operating revenue $ 475 $ 547 $ 1,549 $ 1,533 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" and includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts. |
Summary of Remaining Performance Obligations | The following table summarizes Eastern Energy Gas' revenue it expects to recognize in future periods related to significant unsatisfied remaining performance obligations for fixed contracts with expected durations in excess of one year as of September 30, 2023 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,657 $ 14,744 $ 16,401 |
EGTS | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes EGTS' revenue from contracts with customers ("Customer Revenue") by regulated and other, with further disaggregation of regulated by line of business (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Regulated: Gas transmission $ 144 $ 151 $ 486 $ 461 Gas storage 69 74 206 190 Other 6 — 6 — Total regulated 219 225 698 651 Management service and other revenues 14 19 46 56 Total Customer Revenue 233 244 744 707 Other revenue (1) — (4) 3 (10) Total operating revenue $ 233 $ 240 $ 747 $ 697 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" and includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts. |
Summary of Remaining Performance Obligations | The following table summarizes EGTS' revenue it expects to recognize in future periods related to significant unsatisfied remaining performance obligations for fixed contracts with expected durations in excess of one year as of September 30, 2023 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total EGTS $ 764 $ 3,171 $ 3,935 |
Components of Accumulated Oth_2
Components of Accumulated Other Comprehensive Loss, Net (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Schedule of Other Comprehensive Income (Loss), Net | The following table shows the change in accumulated other comprehensive loss by each component of other comprehensive income (loss), net of applicable income tax (in millions): Unrecognized Foreign Unrealized AOCI Amounts on Currency Gains Attributable Retirement Translation on Cash Noncontrolling To BHE Benefits Adjustment Flow Hedges Interests Shareholders, Net Balance, December 31, 2021 $ (318) $ (1,086) $ 59 $ 5 $ (1,340) Other comprehensive income (loss) 65 (1,256) 148 — (1,043) Balance, September 30, 2022 $ (253) $ (2,342) $ 207 $ 5 $ (2,383) Balance, December 31, 2022 $ (390) $ (1,896) $ 135 $ 2 $ (2,149) Other comprehensive income (loss) 10 18 (23) — 5 Purchase of noncontrolling interest — — — (1) (1) Balance, September 30, 2023 $ (380) $ (1,878) $ 112 $ 1 $ (2,145) |
EEGH | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Schedule of Other Comprehensive Income (Loss), Net | The following table shows the change in accumulated other comprehensive loss by each component of other comprehensive income (loss), net of applicable income tax (in millions): Unrecognized Accumulated Amounts On Unrealized Other Retirement Losses on Cash Noncontrolling Comprehensive Benefits Flow Hedges Interests Loss, Net Balance, December 31, 2021 $ (6) $ (42) $ 5 $ (43) Other comprehensive income 1 4 — 5 Balance, September 30, 2022 $ (5) $ (38) $ 5 $ (38) Balance, December 31, 2022 $ (1) $ (43) $ 2 $ (42) Other comprehensive (loss) income (2) 6 — 4 Purchase of noncontrolling interest — — (1) (1) Balance, September 30, 2023 $ (3) $ (37) $ 1 $ (39) |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information by Segment | The Company's reportable segments with foreign operations include Northern Powergrid, whose business is principally in the United Kingdom, and BHE Transmission, whose business includes operations in Canada. Intersegment eliminations and adjustments, including the allocation of goodwill, have been made. Effective January 1, 2023, the Company's unregulated retail energy services business was transferred to a subsidiary of BHE Renewables. Prior period amounts, which were previously reported in BHE and Other, have been changed to reflect this activity in BHE Renewables. Information related to the Company's reportable segments is shown below (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue: PacifiCorp $ 1,676 $ 1,635 $ 4,487 $ 4,246 MidAmerican Funding 964 1,148 2,643 3,050 NV Energy 1,518 1,334 3,636 2,926 Northern Powergrid 314 359 975 1,019 BHE Pipeline Group 804 964 2,795 2,855 BHE Transmission 196 177 593 543 BHE Renewables 519 506 1,349 1,320 HomeServices 1,212 1,405 3,383 4,284 BHE and Other (1) (33) (28) (116) (101) Total operating revenue $ 7,170 $ 7,500 $ 19,745 $ 20,142 Depreciation and amortization: PacifiCorp $ 285 $ 277 $ 843 $ 836 MidAmerican Funding 210 338 670 865 NV Energy 155 144 460 423 Northern Powergrid 97 92 267 272 BHE Pipeline Group 136 124 403 380 BHE Transmission 64 58 190 176 BHE Renewables 67 68 200 199 HomeServices 12 14 37 43 BHE and Other (1) 1 1 2 3 Total depreciation and amortization $ 1,027 $ 1,116 $ 3,072 $ 3,197 Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating income: PacifiCorp $ (943) $ 437 $ (979) $ 811 MidAmerican Funding 289 230 495 420 NV Energy 328 332 502 534 Northern Powergrid 102 151 369 420 BHE Pipeline Group 290 433 1,242 1,323 BHE Transmission 80 81 244 248 BHE Renewables 155 138 175 347 HomeServices 31 53 32 198 BHE and Other (1) (18) (32) (53) (35) Total operating income 314 1,823 2,027 4,266 Interest expense (603) (555) (1,788) (1,637) Capitalized interest 36 19 93 54 Allowance for equity funds 76 43 186 123 Interest and dividend income 110 40 323 93 (Losses) gains on marketable securities, net (76) (3,270) 926 (1,999) Other, net (3) 5 115 (16) Total income (loss) before income tax expense (benefit) and equity income (loss) $ (146) $ (1,895) $ 1,882 $ 884 Interest expense: PacifiCorp $ 140 $ 105 $ 398 $ 318 MidAmerican Funding 89 84 258 249 NV Energy 65 55 192 158 Northern Powergrid 26 31 86 97 BHE Pipeline Group 39 37 117 110 BHE Transmission 37 39 112 115 BHE Renewables 36 46 124 133 HomeServices 3 2 11 5 BHE and Other (1) 168 156 490 452 Total interest expense $ 603 $ 555 $ 1,788 $ 1,637 Earnings (loss) on common shares: PacifiCorp $ (652) $ 409 $ (665) $ 622 MidAmerican Funding 321 300 803 745 NV Energy 278 270 402 392 Northern Powergrid 66 100 173 282 BHE Pipeline Group 175 234 731 755 BHE Transmission 59 59 181 183 BHE Renewables 160 176 445 585 HomeServices 25 29 25 134 BHE and Other (1) 54 (2,427) 438 (1,809) Total earnings (loss) on common shares $ 486 $ (850) $ 2,533 $ 1,889 As of September 30, December 31, 2023 2022 Assets: PacifiCorp $ 32,515 $ 30,559 MidAmerican Funding 26,907 26,077 NV Energy 17,817 16,676 Northern Powergrid 9,223 9,005 BHE Pipeline Group 21,435 21,005 BHE Transmission 9,390 9,334 BHE Renewables 11,321 12,632 HomeServices 3,597 3,436 BHE and Other (1) 3,877 5,116 Total assets $ 136,082 $ 133,840 (1) The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate principally to other corporate entities, corporate functions and intersegment eliminations. |
Disaggregation of Revenue | The following table summarizes the Company's energy products and services revenue from contracts with customers ("Customer Revenue") by regulated and nonregulated, with further disaggregation of regulated by line of business, including a reconciliation to the Company's reportable segment information included in Note 14 (in millions): For the Three-Month Period Ended September 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,543 $ 773 $ 1,448 $ — $ — $ — $ — $ (1) $ 3,763 Retail gas — 77 28 — — — — — 105 Wholesale 47 81 15 — — — — (2) 141 Transmission and 44 15 21 248 — 165 — — 493 Interstate pipeline — — — — 551 — — (30) 521 Other 31 — — — 8 — — — 39 Total Regulated 1,665 946 1,512 248 559 165 — (33) 5,062 Nonregulated — 2 2 35 230 30 457 (2) 754 Total Customer Revenue 1,665 948 1,514 283 789 195 457 (35) 5,816 Other revenue 11 16 4 32 15 1 62 1 142 Total $ 1,676 $ 964 $ 1,518 $ 315 $ 804 $ 196 $ 519 $ (34) $ 5,958 For the Nine-Month Period Ended September 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 4,124 $ 1,833 $ 3,339 $ — $ — $ — $ — $ (1) $ 9,295 Retail gas — 463 167 — — — — — 630 Wholesale 134 233 55 — — — — (1) 421 Transmission and 116 42 58 773 — 496 — — 1,485 Interstate pipeline — — — — 1,971 — — (113) 1,858 Other 87 — — — 9 — — — 96 Total Regulated 4,461 2,571 3,619 773 1,980 496 — (115) 13,785 Nonregulated — 6 3 113 766 100 1,138 (1) 2,125 Total Customer Revenue 4,461 2,577 3,622 886 2,746 596 1,138 (116) 15,910 Other revenue 26 66 14 89 49 (3) 211 — 452 Total $ 4,487 $ 2,643 $ 3,636 $ 975 $ 2,795 $ 593 $ 1,349 $ (116) $ 16,362 For the Three-Month Period Ended September 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,465 $ 799 $ 1,250 $ — $ — $ — $ — $ (1) $ 3,513 Retail gas — 97 20 — — — — 1 118 Wholesale 69 208 33 — — — — — 310 Transmission and 54 16 24 260 — 168 — — 522 Interstate pipeline — — — — 594 — — (26) 568 Other 24 — — — 1 — — (1) 24 Total Regulated 1,612 1,120 1,327 260 595 168 — (27) 5,055 Nonregulated — 1 — 71 326 16 440 1 855 Total Customer Revenue 1,612 1,121 1,327 331 921 184 440 (26) 5,910 Other revenue 23 27 7 28 43 (7) 67 (3) 185 Total $ 1,635 $ 1,148 $ 1,334 $ 359 $ 964 $ 177 $ 507 $ (29) $ 6,095 For the Nine-Month Period Ended September 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 3,817 $ 1,865 $ 2,680 $ — $ — $ — $ — $ (2) $ 8,360 Retail gas — 570 99 — — — — 1 670 Wholesale 179 488 68 — — — — (2) 733 Transmission and 131 44 59 803 — 516 — — 1,553 Interstate pipeline — — — — 1,863 — — (94) 1,769 Other 72 — 1 — 2 — — (1) 74 Total Regulated 4,199 2,967 2,907 803 1,865 516 — (98) 13,159 Nonregulated — 3 1 128 889 38 1,156 — 2,215 Total Customer Revenue 4,199 2,970 2,908 931 2,754 554 1,156 (98) 15,374 Other revenue 47 80 18 88 101 (11) 165 (4) 484 Total $ 4,246 $ 3,050 $ 2,926 $ 1,019 $ 2,855 $ 543 $ 1,321 $ (102) $ 15,858 (1) The BHE and Other reportable segment represents amounts related principally to other corporate entities, corporate functions and intersegment eliminations. Real Estate Services The following table summarizes the Company's real estate services Customer Revenue by line of business (in millions): HomeServices Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Customer Revenue: Brokerage $ 1,125 $ 1,310 $ 3,126 $ 3,946 Franchise 16 18 43 55 Total Customer Revenue 1,141 1,328 3,169 4,001 Mortgage and other revenue 71 77 214 283 Total $ 1,212 $ 1,405 $ 3,383 $ 4,284 Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue by country: U.S. $ 6,677 $ 6,967 $ 18,241 $ 18,588 United Kingdom 308 351 936 1,011 Canada 179 174 529 535 Australia 6 8 39 8 Total operating revenue by country $ 7,170 $ 7,500 $ 19,745 $ 20,142 Income (loss) before income tax expense (benefit) and equity income (loss) by country: U.S. $ (271) $ (2,068) $ 1,462 $ 395 United Kingdom 68 118 274 344 Canada 48 43 135 135 Australia 11 11 13 12 Other (2) 1 (2) (2) Total income (loss) before income tax expense (benefit) and equity income (loss) by country $ (146) $ (1,895) $ 1,882 $ 884 |
Schedule of Goodwill | The following table shows the change in the carrying amount of goodwill by reportable segment for the nine-month period ended September 30, 2023 (in millions): BHE Pipeline Group PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Transmission BHE Renewables HomeServices Total December 31, 2022 $ 1,129 $ 2,102 $ 2,369 $ 917 $ 1,814 $ 1,461 $ 95 $ 1,602 $ 11,489 Acquisitions — — — — — — — 1 1 Foreign currency translation — — — 5 — (6) — — (1) Other — — — — — — — (7) (7) September 30, 2023 $ 1,129 $ 2,102 $ 2,369 $ 922 $ 1,814 $ 1,455 $ 95 $ 1,596 $ 11,482 |
MEC | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information by Segment | The following tables provide information on a reportable segment basis (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue: Regulated electric $ 869 $ 1,009 $ 2,121 $ 2,342 Regulated natural gas 93 138 516 705 Other 2 1 6 3 Total operating revenue $ 964 $ 1,148 $ 2,643 $ 3,050 Operating income: Regulated electric $ 295 $ 245 $ 465 $ 383 Regulated natural gas (6) (15) 30 37 Total operating income 289 230 495 420 Interest expense (85) (79) (246) (235) Allowance for borrowed funds 6 3 14 12 Allowance for equity funds 16 12 40 41 Other, net 6 4 37 (11) Total income before income tax expense (benefit) $ 232 $ 170 $ 340 $ 227 As of September 30, December 31, Assets: Regulated electric $ 22,993 $ 22,092 Regulated natural gas 1,818 1,885 Other 1 1 Total assets $ 24,812 $ 23,978 |
Disaggregation of Revenue | The following table summarizes MidAmerican Energy's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class, including a reconciliation to MidAmerican Energy's reportable segment information included in Note 12 (in millions): For the Three-Month Period Ended September 30, 2023 For the Nine-Month Period Ended September 30, 2023 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 254 $ 48 $ — $ 302 $ 594 $ 305 $ — $ 899 Commercial 111 14 — 125 272 109 — 381 Industrial 360 3 — 363 846 14 — 860 Natural gas transportation services — 11 — 11 — 34 — 34 Other retail 48 1 — 49 121 1 — 122 Total retail 773 77 — 850 1,833 463 — 2,296 Wholesale 66 15 — 81 182 51 — 233 Multi-value transmission projects 15 — — 15 42 — — 42 Other Customer Revenue — — 2 2 — — 6 6 Total Customer Revenue 854 92 2 948 2,057 514 6 2,577 Other revenue 15 1 — 16 64 2 — 66 Total operating revenue $ 869 $ 93 $ 2 $ 964 $ 2,121 $ 516 $ 6 $ 2,643 For the Three-Month Period Ended September 30, 2022 For the Nine-Month Period Ended September 30, 2022 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 267 $ 58 $ — $ 325 $ 620 $ 370 $ — $ 990 Commercial 117 20 — 137 282 139 — 421 Industrial 364 9 — 373 839 27 — 866 Natural gas transportation services — 8 — 8 — 31 — 31 Other retail 51 2 — 53 124 3 — 127 Total retail 799 97 — 896 1,865 570 — 2,435 Wholesale 167 41 — 208 355 133 — 488 Multi-value transmission projects 16 — — 16 44 — — 44 Other Customer Revenue — — 1 1 — — 3 3 Total Customer Revenue 982 138 1 1,121 2,264 703 3 2,970 Other revenue 27 — — 27 78 2 — 80 Total operating revenue $ 1,009 $ 138 $ 1 $ 1,148 $ 2,342 $ 705 $ 3 $ 3,050 |
MidAmerican Funding, LLC | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information by Segment | The following tables provide information on a reportable segment basis (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue: Regulated electric $ 869 $ 1,009 $ 2,121 $ 2,342 Regulated natural gas 93 138 516 705 Other 2 1 6 3 Total operating revenue $ 964 $ 1,148 $ 2,643 $ 3,050 Operating income: Regulated electric $ 295 $ 245 $ 465 $ 383 Regulated natural gas (6) (15) 30 37 Total operating income 289 230 495 420 Interest expense (89) (84) (258) (249) Allowance for borrowed funds 6 3 14 12 Allowance for equity funds 16 12 40 41 Other, net 6 2 49 (12) Total income before income tax expense (benefit) $ 228 $ 163 $ 340 $ 212 As of September 30, December 31, Assets (1) : Regulated electric $ 24,184 $ 23,283 Regulated natural gas 1,897 1,963 Other 13 8 Total assets $ 26,094 $ 25,254 (1) Assets by reportable segment reflect the assignment of goodwill to applicable reporting units. |
SPPC | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information by Segment | The following tables provide information on a reportable segment basis (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2023 2022 2023 2022 Operating revenue: Regulated electric $ 345 $ 310 $ 942 $ 767 Regulated natural gas 27 20 167 100 Total operating revenue $ 372 $ 330 $ 1,109 $ 867 Operating income: Regulated electric $ 78 $ 74 $ 126 $ 123 Regulated natural gas — — 13 12 Total operating income 78 74 139 135 Interest expense (16) (15) (47) (42) Allowance for borrowed funds — 1 5 2 Allowance for equity funds 5 1 10 5 Interest and dividend income 6 5 18 12 Other, net 1 1 3 3 Total income before income tax expense (benefit) $ 74 $ 67 $ 128 $ 115 As of September 30, December 31, 2023 2022 Assets: Regulated electric $ 4,238 $ 4,224 Regulated natural gas 451 441 Other (1) 76 67 Total assets $ 4,765 $ 4,732 (1) Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments. |
Disaggregation of Revenue | The following table summarizes Sierra Pacific's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class, including a reconciliation to Sierra Pacific's reportable segment information included in Note 11 (in millions): Three-Month Periods Ended September 30, 2023 2022 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 116 $ 15 $ 131 $ 107 $ 13 $ 120 Commercial 111 6 117 100 5 105 Industrial 96 5 101 73 2 75 Other — 1 1 2 — 2 Total fully bundled 323 27 350 282 20 302 Distribution only service 2 — 2 1 — 1 Total retail 325 27 352 283 20 303 Wholesale, transmission and other 20 — 20 26 — 26 Total Customer Revenue 345 27 372 309 20 329 Other revenue — — — 1 — 1 Total operating revenue $ 345 $ 27 $ 372 $ 310 $ 20 $ 330 Nine-Month Periods Ended September 30, 2023 2022 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 326 $ 100 $ 426 $ 270 $ 64 $ 334 Commercial 304 45 349 251 26 277 Industrial 241 20 261 175 9 184 Other 3 1 4 4 — 4 Total fully bundled 874 166 1,040 700 99 799 Distribution only service 4 — 4 4 — 4 Total retail 878 166 1,044 704 99 803 Wholesale, transmission and other 64 — 64 61 — 61 Total Customer Revenue 942 166 1,108 765 99 864 Other revenue — 1 1 2 1 3 Total operating revenue $ 942 $ 167 $ 1,109 $ 767 $ 100 $ 867 |
General - BHE (Details)
General - BHE (Details) | 9 Months Ended |
Sep. 30, 2023 company state operatingSegment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of reportable segments | operatingSegment | 8 |
Number of owned and operated utility companies in the United States | 4 |
Number of states owned and operated utility companies serve customers | state | 11 |
Number of owned and operated electricity distribution companies in Great Britain | 2 |
Number of owned and operated interstate natural gas pipeline companies in the United States | 5 |
Number of owned and operated electricity transmission companies in Canada | 1 |
Number of owned and operated renewable energy businesses | 1 |
Number of owned and operated residential real estate brokerage firms in the United States | 1 |
Number of owned and operated residential real estate brokerage franchise networks in the United States | 1 |
General - EEGH (Details)
General - EEGH (Details) - EEGH - mi | 9 Months Ended | |
Sep. 01, 2023 | Sep. 30, 2023 | |
Iroquois Gas Transmission System, L.P. | ||
Variable Interest Entity [Line Items] | ||
Variable interest entity, ownership percentage | 50% | |
Primary Beneficiary | General partner | Cove Point LNG, LP | ||
Variable Interest Entity [Line Items] | ||
Variable interest entity, ownership percentage | 100% | |
Primary Beneficiary | Limited partner | Cove Point LNG, LP | ||
Variable Interest Entity [Line Items] | ||
Variable interest entity, ownership percentage | 50% | 75% |
Primary Beneficiary | Federal Energy Regulatory Commission | Iroquois Gas Transmission System, L.P. | ||
Variable Interest Entity [Line Items] | ||
Miles of interstate natural gas transportation pipeline | 416 |
Business Acquisitions - BHE (De
Business Acquisitions - BHE (Details) - USD ($) $ in Millions | Sep. 01, 2023 | Sep. 30, 2023 | Aug. 31, 2023 | Dec. 31, 2022 |
Business Acquisition [Line Items] | ||||
Equity method investments | $ 5,808 | $ 6,062 | ||
Deferred income tax charges | ||||
Business Acquisition [Line Items] | ||||
Regulatory liabilities | $ 24 | |||
Cove Point LNG, LP | ||||
Business Acquisition [Line Items] | ||||
Income tax provision, equity transactions | 120 | |||
Cove Point LNG, LP | ||||
Business Acquisition [Line Items] | ||||
Business combination, consideration transferred, cash | $ 3,300 | |||
Cove Point LNG, LP | Limited partner | Cove Point LNG, LP | ||||
Business Acquisition [Line Items] | ||||
Business combination, ownership interest after transaction | 75% | |||
Business combination, ownership interest prior to transaction | 25% | |||
Cove Point LNG, LP | Limited partner | Dominion Energy, Inc. | ||||
Business Acquisition [Line Items] | ||||
Limited partner, ownership percentage | 50% | |||
Cove Point LNG, LP | General partner | Cove Point LNG, LP | ||||
Business Acquisition [Line Items] | ||||
Business combination, ownership interest prior to transaction | 100% | |||
Cove Point LNG, LP | General partner | Cove Point GP Holding Company, LLC | Cove Point LNG, LP | ||||
Business Acquisition [Line Items] | ||||
Business combination, ownership interest after transaction | 100% |
Business Acquisitions - EEGH (D
Business Acquisitions - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 01, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Deferred income tax charges | |||||
Business Acquisition [Line Items] | |||||
Regulatory liabilities | $ 24 | ||||
Cove Point LNG, LP | |||||
Business Acquisition [Line Items] | |||||
Income tax provision, equity transactions | 120 | ||||
Investment, step up in tax basis | 144 | ||||
Cove Point LNG, LP | |||||
Business Acquisition [Line Items] | |||||
Business combination, consideration transferred, cash | $ 3,300 | ||||
EEGH | |||||
Business Acquisition [Line Items] | |||||
Contributions | $ 2,880 | $ 11 | $ 2,913 | $ 79 | |
Proceeds from repayment of affiliate note receivable | $ 734 | $ 31 | |||
EEGH | Cove Point LNG, LP | |||||
Business Acquisition [Line Items] | |||||
Contributions | 2,900 | ||||
Proceeds from repayment of affiliate note receivable | $ 474 | ||||
Cove Point LNG, LP | Cove Point LNG, LP | Limited partner | |||||
Business Acquisition [Line Items] | |||||
Business combination, ownership interest after transaction | 75% | 75% | |||
Cove Point LNG, LP | Dominion Energy, Inc. | Limited partner | |||||
Business Acquisition [Line Items] | |||||
Limited partner, ownership percentage | 50% | ||||
Cove Point LNG, LP | Cove Point GP Holding Company, LLC | Cove Point LNG, LP | General partner | |||||
Business Acquisition [Line Items] | |||||
Business combination, ownership interest after transaction | 100% | 100% |
Cash and Cash Equivalents and_3
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - PAC (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,047 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 283 | 173 | ||
Restricted cash, cash equivalents and investments, noncurrent | 53 | 53 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,383 | 1,817 | $ 2,058 | $ 1,244 |
PAC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 98 | 641 | ||
Restricted cash and cash equivalents, current | 11 | 7 | ||
Restricted cash, cash equivalents and investments, noncurrent | 36 | 26 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 145 | $ 674 | $ 255 | $ 186 |
Cash and Cash Equivalents and_4
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - MEC (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,047 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 283 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,383 | 1,817 | $ 2,058 | $ 1,244 |
MEC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 700 | 258 | ||
Restricted cash and cash equivalents, current | 9 | 10 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 709 | $ 268 | $ 589 | $ 239 |
Cash and Cash Equivalents and_5
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - LLC (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,047 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 283 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,383 | 1,817 | $ 2,058 | $ 1,244 |
MidAmerican Funding, LLC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 700 | 261 | ||
Restricted cash and cash equivalents, current | 9 | 10 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 709 | $ 271 | $ 590 | $ 240 |
Cash and Cash Equivalents and_6
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - NPC (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,047 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 283 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,383 | 1,817 | $ 2,058 | $ 1,244 |
NPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 44 | 43 | ||
Restricted cash and cash equivalents, current | 16 | 17 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 60 | $ 60 | $ 86 | $ 45 |
Cash and Cash Equivalents and_7
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - SPPC (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,047 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 283 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,383 | 1,817 | $ 2,058 | $ 1,244 |
SPPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 39 | 49 | ||
Restricted cash and cash equivalents, current | 7 | 7 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 46 | $ 56 | $ 53 | $ 16 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net - BHE (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | $ 96,627 | $ 93,043 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 112,467 | 111,087 |
Accumulated depreciation and amortization | (35,752) | (34,599) |
Net operating assets | 76,715 | 76,488 |
Construction work-in-progress | 8,400 | 4,900 |
Regulated | Utility generation, transmission and distribution systems | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 93,667 | 92,759 |
Regulated | Utility generation, transmission and distribution systems | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 5 years | |
Regulated | Utility generation, transmission and distribution systems | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 80 years | |
Regulated | Interstate natural gas pipeline assets | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 18,800 | 18,328 |
Regulated | Interstate natural gas pipeline assets | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 3 years | |
Regulated | Interstate natural gas pipeline assets | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 80 years | |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 14,668 | 14,650 |
Accumulated depreciation and amortization | (3,703) | (3,452) |
Net operating assets | 10,965 | 11,198 |
Nonregulated | Independent power plants | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 8,461 | 8,545 |
Nonregulated | Independent power plants | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 2 years | |
Nonregulated | Independent power plants | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 50 years | |
Nonregulated | LNG facility | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 3,415 | 3,412 |
Depreciable life | 40 years | |
Nonregulated | Other assets | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 2,792 | 2,693 |
Nonregulated | Other assets | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 2 years | |
Nonregulated | Other assets | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 30 years | |
Common Facilities | ||
Property, Plant and Equipment [Line Items] | ||
Net operating assets | $ 87,680 | 87,686 |
Property, plant and equipment, net | 96,627 | 93,043 |
Construction in Progress | ||
Property, Plant and Equipment [Line Items] | ||
Construction work-in-progress | $ 8,947 | $ 5,357 |
Property, Plant and Equipment_4
Property, Plant and Equipment, Net - PAC (Details) - PAC - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 33,604 | $ 33,009 |
Accumulated depreciation and amortization | (11,649) | (11,093) |
Utility plant in-service, net | 21,955 | 21,916 |
Plant, net | 21,973 | 21,934 |
Construction work-in-progress | 4,126 | 2,496 |
Property, plant and equipment, net | $ 26,099 | 24,430 |
Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 15 years | |
Useful life, transmission | 60 years | |
Useful life, distribution | 20 years | |
Useful life, intangible asset | 5 years | |
Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 59 years | |
Useful life, transmission | 90 years | |
Useful life, distribution | 75 years | |
Useful life, intangible asset | 75 years | |
Generation | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 13,814 | 13,726 |
Transmission | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 8,140 | 8,051 |
Distribution | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 8,840 | 8,477 |
Intangible plant and other | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 2,810 | 2,755 |
Computer software | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, intangible asset | 5 years | |
Computer software | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, intangible asset | 10 years | |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 18 | $ 18 |
Nonregulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, other | 14 years | |
Nonregulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, other | 95 years |
Property, Plant and Equipment_5
Property, Plant and Equipment, Net - MEC (Details) - MEC - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 20,042 | $ 20,301 | |
Construction work-in-progress | 1,479 | 790 | |
Property, plant and equipment, net | 21,521 | 21,091 | |
Anticipated equity returns exceeding threshold | |||
Property, Plant and Equipment [Line Items] | |||
Regulatory liability, additions | 12 | $ 211 | |
Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | 27,710 | 28,319 | |
Accumulated depreciation and amortization | (7,674) | (8,024) | |
Plant, net | 20,036 | 20,295 | |
Nonregulated | |||
Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 6 | 6 | |
Nonregulated | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, other | 20 years | ||
Nonregulated | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, other | 50 years | ||
Electric Operations | Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Generation | $ 17,550 | 18,582 | |
Transmission | 2,758 | 2,662 | |
Distribution | $ 5,163 | 4,931 | |
Electric Operations | Regulated | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 20 years | ||
Useful life, transmission | 55 years | ||
Useful life, distribution | 15 years | ||
Electric Operations | Regulated | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 62 years | ||
Useful life, transmission | 80 years | ||
Useful life, distribution | 80 years | ||
Natural Gas Processing Plant | Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Distribution | $ 2,239 | $ 2,144 | |
Natural Gas Processing Plant | Regulated | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 30 years | ||
Natural Gas Processing Plant | Regulated | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 75 years |
Property, Plant and Equipment_6
Property, Plant and Equipment, Net - NPC (Details) - NPC - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 7,169 | $ 6,921 |
Construction work-in-progress | 1,100 | 485 |
Property, plant and equipment, net | 8,269 | 7,406 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Generation | 4,113 | 3,977 |
Distribution | 1,585 | 1,562 |
Transmission | 4,365 | 4,134 |
General and intangible | 902 | 871 |
Utility plant in-service | 10,965 | 10,544 |
Accumulated depreciation and amortization | (3,797) | (3,624) |
Plant, net | $ 7,168 | 6,920 |
Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 30 years | |
Useful life, distribution | 45 years | |
Useful life, transmission | 20 years | |
Useful life, other | 5 years | |
Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 55 years | |
Useful life, distribution | 70 years | |
Useful life, transmission | 65 years | |
Useful life, other | 65 years | |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 1 | $ 1 |
Useful life, other | 45 years |
Property, Plant and Equipment_7
Property, Plant and Equipment, Net - SPPC (Details) - SPPC - USD ($) $ in Millions | 9 Months Ended | ||
Jan. 01, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | |||
Construction work-in-progress | $ 385 | $ 236 | |
Property, plant and equipment, net | 3,745 | 3,587 | |
Annual amortization expense increase | $ 19 | ||
Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | 5,432 | 5,343 | |
Accumulated depreciation and amortization | (2,072) | (1,992) | |
Plant, net | 3,360 | 3,351 | |
Regulated | Generation | |||
Property, Plant and Equipment [Line Items] | |||
Generation | 1,298 | 1,298 | |
Transmission | 1,000 | 993 | |
Distribution | 2,034 | 1,983 | |
General and intangible | $ 227 | 219 | |
Regulated | Generation | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 25 years | ||
Useful life, transmission | 50 years | ||
Useful life, distribution | 20 years | ||
Useful life, other | 5 years | ||
Regulated | Generation | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 70 years | ||
Useful life, transmission | 76 years | ||
Useful life, distribution | 76 years | ||
Useful life, other | 65 years | ||
Regulated | Natural Gas Processing Plant | |||
Property, Plant and Equipment [Line Items] | |||
Distribution | $ 470 | 455 | |
General and intangible | $ 17 | 15 | |
Regulated | Natural Gas Processing Plant | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 35 years | ||
Useful life, other | 5 years | ||
Regulated | Natural Gas Processing Plant | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 70 years | ||
Useful life, other | 65 years | ||
Regulated | Common Facilities | |||
Property, Plant and Equipment [Line Items] | |||
Common general | $ 386 | $ 380 | |
Regulated | Common Facilities | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, common general | 5 years | ||
Regulated | Common Facilities | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, common general | 65 years |
Property, Plant and Equipment_8
Property, Plant and Equipment, Net - EEGH (Details) $ in Millions | 1 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 USD ($) a | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Plant, net | $ 10,068 | $ 10,001 | ||
Construction work-in-progress | 276 | 201 | ||
Property, plant and equipment, net | 10,344 | 10,202 | ||
Proceeds from assignment of shale development rights | 8 | $ 0 | ||
EGTS | ||||
Property, Plant and Equipment [Line Items] | ||||
Plant in service, net | 7,027 | 6,803 | ||
Accumulated depreciation and amortization | (2,533) | (2,440) | ||
Plant, net | 4,494 | 4,363 | ||
Construction work-in-progress | 205 | 141 | ||
Property, plant and equipment, net | 4,699 | 4,504 | ||
Oil and gas, developed acreage | a | 6,500 | |||
Proceeds from assignment of shale development rights | $ 8 | 8 | $ 0 | |
Shale development rights gain | 8 | |||
Shale development rights, gain after-tax | $ 6 | |||
Regulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Plant in service, net | 9,314 | 9,035 | ||
Accumulated depreciation and amortization | (3,162) | (3,039) | ||
Plant, net | 6,152 | 5,996 | ||
Construction work-in-progress | 260 | 181 | ||
Nonregulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Plant in service, net | 4,550 | 4,547 | ||
Accumulated depreciation and amortization | (634) | (542) | ||
Plant, net | 3,916 | 4,005 | ||
Interstate natural gas transmission and storage assets | EGTS | ||||
Property, Plant and Equipment [Line Items] | ||||
Plant in service, net | $ 6,946 | 6,724 | ||
Interstate natural gas transmission and storage assets | EGTS | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 28 years | |||
Interstate natural gas transmission and storage assets | EGTS | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 50 years | |||
Interstate natural gas transmission and storage assets | Regulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Plant in service, net | $ 9,197 | 8,922 | ||
Interstate natural gas transmission and storage assets | Regulated | EEGH | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 21 years | |||
Interstate natural gas transmission and storage assets | Regulated | EEGH | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 51 years | |||
Intangible plant | EGTS | ||||
Property, Plant and Equipment [Line Items] | ||||
Plant in service, net | $ 81 | 79 | ||
Intangible plant | EGTS | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 12 years | |||
Intangible plant | EGTS | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 19 years | |||
Intangible plant | Regulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Plant in service, net | $ 117 | 113 | ||
Intangible plant | Regulated | EEGH | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 5 years | |||
Intangible plant | Regulated | EEGH | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 17 years | |||
Intangible plant | Nonregulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 14 years | |||
Plant in service, net | $ 25 | 25 | ||
LNG facility | Nonregulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 40 years | |||
Plant in service, net | $ 4,525 | $ 4,522 |
Property, Plant and Equipment_9
Property, Plant and Equipment, Net - EGTS (Details) - EGTS $ in Millions | 1 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 USD ($) a | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | $ 7,027 | $ 6,803 | ||
Accumulated depreciation and amortization | (2,533) | (2,440) | ||
Plant, net | 4,494 | 4,363 | ||
Construction work-in-progress | 205 | 141 | ||
Property, plant and equipment, net | 4,699 | 4,504 | ||
Oil and gas, developed acreage | a | 6,500 | |||
Proceeds from assignment of shale development rights | $ 8 | 8 | $ 0 | |
Shale development rights gain | 8 | |||
Shale development rights, gain after-tax | $ 6 | |||
Interstate natural gas transmission and storage assets | ||||
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | $ 6,946 | 6,724 | ||
Interstate natural gas transmission and storage assets | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 28 years | |||
Interstate natural gas transmission and storage assets | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 50 years | |||
Intangible plant | ||||
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | $ 81 | $ 79 | ||
Intangible plant | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 12 years | |||
Intangible plant | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 19 years |
Regulatory Matters - EEGH (Deta
Regulatory Matters - EEGH (Details) - EGTS - USD ($) $ in Millions | 1 Months Ended | 11 Months Ended |
Sep. 30, 2021 | Feb. 28, 2023 | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Provision for rate refunds | $ 91 | |
General Rate Case | Federal Energy Regulatory Commission | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Proposed annual cost-of-service | $ 1,100 | |
General Rate Case | Federal Energy Regulatory Commission | Gas Storage | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Proposed annual cost-of-service, rate increase | 85% | |
General Rate Case | Federal Energy Regulatory Commission | Gas Transportation | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Proposed annual cost-of-service, rate increase | 60% | |
General Rate Case, Transportation and Storage Revenues | Federal Energy Regulatory Commission | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Approved rate increase (decrease) amount | 160 | |
General Rate Case, Depreciation Expense | Federal Energy Regulatory Commission | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Approved rate increase (decrease) amount | $ (30) |
Regulatory Matters - EGTS (Deta
Regulatory Matters - EGTS (Details) - EGTS - USD ($) $ in Millions | 1 Months Ended | 11 Months Ended |
Sep. 30, 2021 | Feb. 28, 2023 | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Provision for rate refunds | $ 91 | |
General Rate Case | Federal Energy Regulatory Commission | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Proposed annual cost-of-service | $ 1,100 | |
General Rate Case | Federal Energy Regulatory Commission | Gas Storage | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Proposed annual cost-of-service, rate increase | 85% | |
General Rate Case | Federal Energy Regulatory Commission | Gas Transportation | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Proposed annual cost-of-service, rate increase | 60% | |
General Rate Case, Depreciation Expense | Federal Energy Regulatory Commission | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Approved rate increase (decrease) amount | (30) | |
General Rate Case, Transportation and Storage Revenues | Federal Energy Regulatory Commission | ||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||
Approved rate increase (decrease) amount | $ 160 |
Investments and Restricted Ca_3
Investments and Restricted Cash and Cash Equivalents and Investments - BHE - Components and Investments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Investments: | |||||
Total investments | $ 4,209 | $ 4,209 | $ 6,462 | ||
Equity method investments | 5,808 | 5,808 | 6,062 | ||
Restricted cash and cash equivalents and investments | 1,042 | 1,042 | 890 | ||
Total investments and restricted cash and cash equivalents and investments | 11,059 | 11,059 | 13,414 | ||
Reflected as: | |||||
Other current assets | 955 | 955 | 2,141 | ||
Noncurrent assets | 10,104 | 10,104 | 11,273 | ||
Unrealized (losses) gains recognized on marketable securities held at the reporting date | (97) | $ (3,168) | 573 | $ (2,002) | |
Net gains (losses) recognized on marketable securities sold during the period | 21 | (102) | 353 | 3 | |
(Losses) gains on marketable securities, net | (76) | (3,270) | 926 | $ (1,999) | |
Quad Cities Station nuclear decommissioning trust funds | |||||
Investments: | |||||
Restricted cash and cash equivalents and investments | 706 | 706 | 664 | ||
Other restricted cash and cash equivalents | |||||
Investments: | |||||
Restricted cash and cash equivalents and investments | 336 | 336 | 226 | ||
BHE Renewables tax equity investments | |||||
Investments: | |||||
Equity method investments | 4,180 | 4,180 | 4,535 | ||
Electric Transmission Texas, LLC | |||||
Investments: | |||||
Equity method investments | 670 | 670 | 623 | ||
Iroquois Gas Transmission System, L.P. | |||||
Investments: | |||||
Equity method investments | 582 | 582 | 600 | ||
Other | |||||
Investments: | |||||
Equity method investments | 376 | 376 | 304 | ||
BYD Company Limited common stock | |||||
Investments: | |||||
Total investments | 2,794 | 2,794 | 3,763 | ||
Reflected as: | |||||
(Losses) gains on marketable securities, net | $ (3,259) | ||||
U.S. Treasury Bills | |||||
Investments: | |||||
Total investments | 627 | 627 | 1,931 | ||
Rabbi trusts | |||||
Investments: | |||||
Total investments | 461 | 461 | 433 | ||
Other | |||||
Investments: | |||||
Total investments | $ 327 | $ 327 | $ 335 |
Investments and Restricted Ca_4
Investments and Restricted Cash and Cash Equivalents and Investments - BHE - Reconciliation of Cash (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Investments and Restricted Cash and Investments [Abstract] | ||||
Cash and cash equivalents | $ 2,047 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 283 | 173 | ||
Restricted cash, cash equivalents and investments, noncurrent | 53 | 53 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 2,383 | $ 1,817 | $ 2,058 | $ 1,244 |
Investments and Restricted Ca_5
Investments and Restricted Cash and Cash Equivalents and Investments - EEGH - Components (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Investments: | ||
Equity method investments | $ 5,808 | $ 6,062 |
Total investments and restricted cash and cash equivalents and investments | 11,059 | 13,414 |
Reflected as: | ||
Other current assets | 955 | 2,141 |
Noncurrent assets | 10,104 | 11,273 |
EEGH | ||
Investments: | ||
Investments | 18 | 14 |
Total investments | 264 | 278 |
Restricted cash and cash equivalents | 31 | 30 |
Total investments and restricted cash and cash equivalents and investments | 295 | 308 |
Reflected as: | ||
Other current assets | 31 | 30 |
Noncurrent assets | 264 | 278 |
EEGH | Customer deposits | ||
Investments: | ||
Restricted cash and cash equivalents | 31 | 30 |
Iroquois Gas Transmission System, L.P. | ||
Investments: | ||
Equity method investments | 582 | 600 |
Iroquois Gas Transmission System, L.P. | EEGH | ||
Investments: | ||
Equity method investments | $ 246 | $ 264 |
Investments and Restricted Ca_6
Investments and Restricted Cash and Cash Equivalents and Investments - EEGH - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Investments And Restricted Cash And Investments [Line Items] | |||||
Equity income (loss) | $ (60) | $ (13) | $ (197) | $ (153) | |
EEGH | |||||
Investments And Restricted Cash And Investments [Line Items] | |||||
Investment exceeded share of equity in net assets | 130 | 130 | $ 130 | ||
Distributions received from investments | 59 | 34 | |||
Equity income (loss) | $ 5 | 52 | $ 43 | $ 80 | |
Iroquois Gas Transmission System, L.P. | EEGH | |||||
Investments And Restricted Cash And Investments [Line Items] | |||||
Equity method investment, ownership percentage | 50% | 50% | |||
Equity income (loss) | $ 45 |
Investments and Restricted Ca_7
Investments and Restricted Cash and Cash Equivalents and Investments - EEGH - Reconciliation of Cash (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,047 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 283 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,383 | 1,817 | $ 2,058 | $ 1,244 |
EEGH | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 94 | 65 | ||
Restricted cash and cash equivalents, current | 31 | 30 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 125 | $ 95 | $ 87 | $ 39 |
Investments and Restricted Ca_8
Investments and Restricted Cash and Cash Equivalents and Investments - EGTS - Components (Details) - EGTS - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Investments And Restricted Cash And Investments [Line Items] | ||
Investments | $ 18 | $ 14 |
Restricted cash and cash equivalents | 29 | 29 |
Total investments and restricted cash and cash equivalents | 47 | 43 |
Reflected as: | ||
Other current assets | 29 | 29 |
Noncurrent assets | 18 | 14 |
Customer deposits | ||
Investments And Restricted Cash And Investments [Line Items] | ||
Restricted cash and cash equivalents | $ 29 | $ 29 |
Investments and Restricted Ca_9
Investments and Restricted Cash and Cash Equivalents and Investments - EGTS - Reconciliation of Cash (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,047 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 283 | 173 | ||
Restricted cash, cash equivalents and investments, noncurrent | 53 | 53 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,383 | 1,817 | $ 2,058 | $ 1,244 |
EGTS | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 12 | 16 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 41 | $ 45 | $ 64 | $ 26 |
Recent Financing Transactions -
Recent Financing Transactions - BHE (Details) $ in Millions, $ in Millions | 1 Months Ended | ||||
Sep. 30, 2023 USD ($) | Jun. 30, 2023 USD ($) | May 31, 2023 USD ($) | Apr. 30, 2023 CAD ($) | Oct. 31, 2023 CAD ($) | |
Unsecured credit facility, expiring June 2026 | BHE | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 3,500 | ||||
Unsecured credit facility, expiring June 2026 | PAC | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | 2,000 | $ 1,200 | |||
Unsecured credit facility, expiring January 2024 | PAC | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 800 | ||||
Debt term | 364 days | ||||
Unsecured credit facility, expiring June 2026 | MEC | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 1,500 | ||||
Secured credit facility, expiring June 2026 | NPC | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | 600 | 400 | |||
Secured credit facility, expiring June 2026 | SPPC | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 400 | 250 | |||
Revolving credit facility, expiring April 2024 | AltaLink L.P. | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 200 | ||||
Debt term | 1 year | ||||
Extension period | 1 year | ||||
Subsidiary Debt | MEC | |||||
Debt Instrument [Line Items] | |||||
Proceeds allocation period | 24 months | ||||
Subsidiary Debt | Senior Notes, 5.463 %, Due 2055 | AltaLink L.P. | Subsequent event | |||||
Debt Instrument [Line Items] | |||||
Face amount | $ 500 | ||||
Stated interest rate | 5.463% | ||||
Subsidiary Debt | First Mortgage Bonds, 5.35%, due January 2034 | MEC | |||||
Debt Instrument [Line Items] | |||||
Face amount | $ 350 | ||||
Stated interest rate | 5.35% | ||||
Subsidiary Debt | First Mortgage Bonds, 5.850%, due September 2054 | MEC | |||||
Debt Instrument [Line Items] | |||||
Face amount | $ 1,000 | ||||
Stated interest rate | 5.85% | ||||
Subsidiary Debt | General And Refunding Mortgage bonds, 6.00% Series 2023A, due 2054 | NPC | |||||
Debt Instrument [Line Items] | |||||
Face amount | $ 500 | ||||
Stated interest rate | 6% | ||||
Subsidiary Debt | General And Refunding Mortgage bonds, 5.90% Series 2023A, due 2054 | SPPC | |||||
Debt Instrument [Line Items] | |||||
Face amount | $ 400 | ||||
Stated interest rate | 5.90% | ||||
Subsidiary Debt | Mortgage securities, 3.375%, Series T due 2023 | SPPC | |||||
Debt Instrument [Line Items] | |||||
Stated interest rate | 3.375% | ||||
Subsidiary Debt | First Mortgage Bonds, 5.50%, due May 2054 | PAC | |||||
Debt Instrument [Line Items] | |||||
Face amount | $ 1,200 | ||||
Stated interest rate | 5.50% | ||||
Proceeds allocation period | 24 months |
Recent Financing Transactions_2
Recent Financing Transactions - PAC (Details) - PAC - USD ($) $ in Millions | 1 Months Ended | ||
Jun. 30, 2023 | May 31, 2023 | Jan. 31, 2023 | |
Debt Instrument [Line Items] | |||
Common stock dividend declared | $ 300 | ||
First Mortgage Bonds, 5.50%, due May 2054 | Subsidiary Debt | |||
Debt Instrument [Line Items] | |||
Face amount | $ 1,200 | ||
Stated interest rate | 5.50% | ||
Proceeds allocation period | 24 months | ||
Unsecured credit facility, expiring June 2026 | Line of Credit | |||
Debt Instrument [Line Items] | |||
Maximum borrowing capacity | $ 2,000 | $ 1,200 | |
Unsecured credit facility, expiring January 2024 | Line of Credit | |||
Debt Instrument [Line Items] | |||
Maximum borrowing capacity | $ 800 | ||
Debt term | 364 days |
Recent Financing Transactions_3
Recent Financing Transactions - MEC (Details) - MEC - USD ($) $ in Millions | 1 Months Ended | |
Sep. 30, 2023 | Jun. 30, 2023 | |
Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Proceeds allocation period | 24 months | |
First Mortgage Bonds, 5.35%, due January 2034 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 350 | |
Stated interest rate | 5.35% | |
First Mortgage Bonds, 5.850%, due September 2054 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 1,000 | |
Stated interest rate | 5.85% | |
Unsecured credit facility, expiring June 2026 | Line of Credit | ||
Debt Instrument [Line Items] | ||
Maximum borrowing capacity | $ 1,500 |
Recent Financing Transactions_4
Recent Financing Transactions - NPC (Details) - NPC - USD ($) $ in Millions | Sep. 30, 2023 | Jun. 30, 2023 | May 31, 2023 | Mar. 31, 2023 |
General And Refunding Mortgage bonds, 6.00% Series 2023A, due 2054 | Subsidiary Debt | ||||
Debt Instrument [Line Items] | ||||
Face amount | $ 500 | |||
Stated interest rate | 6% | |||
NPC Pollution Control Refunding Revenue Bonds, 1.875%, Series 2017A, due 2032 | NVE Holdings | ||||
Debt Instrument [Line Items] | ||||
Face amount | $ 40 | |||
Stated interest rate | 4.125% | |||
Repurchased amount | $ 40 | |||
NPC Pollution Control Refunding Revenue Bonds, 1.65%, Series 2017B, due 2039 | NVE Holdings | ||||
Debt Instrument [Line Items] | ||||
Face amount | $ 13 | |||
Stated interest rate | 3.75% | |||
Repurchased amount | $ 13 | |||
NPC Pollution Control Refunding Revenue Bonds, 1.65%, Series 2017, Due 2036 | NVE Holdings | ||||
Debt Instrument [Line Items] | ||||
Face amount | $ 40 | |||
Stated interest rate | 3.75% | |||
Repurchased amount | $ 40 | |||
Secured credit facility, expiring June 2026 | Line of Credit | ||||
Debt Instrument [Line Items] | ||||
Maximum borrowing capacity | $ 600 | $ 400 |
Recent Financing Transactions_5
Recent Financing Transactions - SPPC (Details) - SPPC - USD ($) $ in Millions | Sep. 30, 2023 | Jun. 30, 2023 | May 31, 2023 |
General And Refunding Mortgage bonds, 5.90% Series 2023A, due 2054 | Subsidiary Debt | |||
Debt Instrument [Line Items] | |||
Face amount | $ 400 | ||
Stated interest rate | 5.90% | ||
Mortgage securities, 3.375%, Series T due 2023 | Subsidiary Debt | |||
Debt Instrument [Line Items] | |||
Stated interest rate | 3.375% | ||
Secured credit facility, expiring June 2026 | Line of Credit | |||
Debt Instrument [Line Items] | |||
Maximum borrowing capacity | $ 400 | $ 250 |
Income Taxes - BHE (Details)
Income Taxes - BHE (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Income tax expense (benefit) | $ (777) | $ (1,213) | $ (1,194) | $ (1,571) | |
Pre-tax loss | 146 | 1,895 | (1,882) | (884) | |
Wildfire losses, net of recoveries | 1,263 | 0 | 1,671 | 64 | |
Income tax credit benefit | 558 | 680 | |||
Effects of ratemaking, benefit | 82 | ||||
State income tax, net of federal income tax impacts, benefit | 65 | ||||
Loss on marketable securities | $ 76 | 3,270 | $ (926) | $ 1,999 | |
Federal statutory income tax rate, benefit | $ 398 | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
Income tax credits | 382% | 36% | (67.00%) | (165.00%) | |
State income tax, net of federal income tax impacts | 44% | 0% | (5.00%) | (2.00%) | |
Income tax effect of foreign income | 9% | 0% | 1% | (4.00%) | |
Effects of ratemaking | 56% | 5% | (8.00%) | (18.00%) | |
Equity income | 9% | 0% | (2.00%) | (4.00%) | |
Noncontrolling interest | 11% | 2% | (4.00%) | (9.00%) | |
Other | 0% | 0% | 1% | 3% | |
Effective income tax rate | 532% | 64% | (63.00%) | (178.00%) | |
Years eligible for federal renewable energy production tax credit | 10 years | ||||
Production tax credits | $ 1,258 | $ 1,414 | |||
Related party transaction, cash received (paid) for income taxes | $ 1,000 | 1,742 | |||
Long-term income tax receivable adjustments | $ 0 | 0 | |||
BYD Company Limited common stock | |||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Loss on marketable securities | 3,259 | ||||
Long-term Income Tax Receivable | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Long-term income tax receivable adjustments | $ (744) | (744) | (744) | ||
Retained Earnings | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Long-term income tax receivable adjustments | $ 744 | $ 744 | $ 744 |
Income Taxes - PAC (Details)
Income Taxes - PAC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Income tax expense (benefit) | $ (777) | $ (1,213) | $ (1,194) | $ (1,571) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 | |
Wildfire losses, net of recoveries | 1,263 | 0 | $ 1,671 | $ 64 | |
Federal statutory income tax rate, benefit | 398 | ||||
Income tax credit benefit | 558 | $ 680 | |||
State income tax, net of federal income tax impacts, benefit | 65 | ||||
Effects of ratemaking, benefit | $ 82 | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | 44% | 0% | (5.00%) | (2.00%) | |
Income tax credits | 382% | 36% | (67.00%) | (165.00%) | |
Effects of ratemaking | 56% | 5% | (8.00%) | (18.00%) | |
Other | 0% | 0% | 1% | 3% | |
Effective income tax rate | 532% | 64% | (63.00%) | (178.00%) | |
Years eligible for federal renewable energy production tax credit | 10 years | ||||
Related party transaction, cash received (paid) for income taxes | $ 1,000 | $ 1,742 | |||
PAC | |||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Income tax expense (benefit) | $ (345) | $ (37) | (485) | (43) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | (997) | 372 | (1,151) | 578 | |
Wildfire losses, net of recoveries | 1,263 | 0 | 1,671 | 64 | |
Federal statutory income tax rate, benefit | 210 | 242 | |||
Income tax credit benefit | 64 | $ 83 | 119 | $ 127 | |
State income tax, net of federal income tax impacts, benefit | 37 | 44 | |||
Effects of ratemaking, benefit | $ 36 | $ 70 | |||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | 4% | 4% | 4% | 4% | |
Income tax credits | 6% | (22.00%) | 10% | (22.00%) | |
Effects of ratemaking | 4% | (13.00%) | 6% | (12.00%) | |
Valuation allowance | 0% | 0% | 1% | 1% | |
Other | 0% | 0% | 0% | 1% | |
Effective income tax rate | 35% | (10.00%) | 42% | (7.00%) | |
Years eligible for federal renewable energy production tax credit | 10 years | ||||
Related party transaction, cash received (paid) for income taxes | $ 255 | $ 194 | |||
Income taxes payable | $ 12 | 12 | |||
Income taxes receivable | $ 84 | ||||
PAC | State | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Valuation allowance increase (decrease) | $ (11) | $ 8 |
Income Taxes - MEC (Details)
Income Taxes - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | 382% | 36% | (67.00%) | (165.00%) |
State income tax, net of federal income tax impacts | 44% | 0% | (5.00%) | (2.00%) |
Effects of ratemaking | 56% | 5% | (8.00%) | (18.00%) |
Other | 0% | 0% | 1% | 3% |
Effective income tax rate | 532% | 64% | (63.00%) | (178.00%) |
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 1,258 | $ 1,414 | ||
Related party transaction, cash received (paid) for income taxes | $ 1,000 | $ 1,742 | ||
MEC | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | (47.00%) | (69.00%) | (142.00%) | (222.00%) |
State income tax, net of federal income tax impacts | (8.00%) | (21.00%) | (9.00%) | (21.00%) |
Effects of ratemaking | (5.00%) | (13.00%) | (5.00%) | (12.00%) |
Other | (1.00%) | 3% | (1.00%) | 1% |
Effective income tax rate | (40.00%) | (79.00%) | (136.00%) | (233.00%) |
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 484 | $ 505 | ||
MEC | BHE | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Related party transaction, cash received (paid) for income taxes | $ 698 | $ 757 |
Income Taxes - LLC (Details)
Income Taxes - LLC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | 382% | 36% | (67.00%) | (165.00%) |
State income tax, net of federal income tax impacts | 44% | 0% | (5.00%) | (2.00%) |
Effects of ratemaking | 56% | 5% | (8.00%) | (18.00%) |
Other | 0% | 0% | 1% | 3% |
Effective income tax rate | 532% | 64% | (63.00%) | (178.00%) |
Production Tax Credit Carryforwards [Abstract] | ||||
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 1,258 | $ 1,414 | ||
Related Party Income Tax Receivable (Payable) [Abstract] | ||||
Related party transaction, cash received (paid) for income taxes | $ 1,000 | $ 1,742 | ||
MidAmerican Funding, LLC | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | (48.00%) | (72.00%) | (142.00%) | (238.00%) |
State income tax, net of federal income tax impacts | (8.00%) | (22.00%) | (9.00%) | (24.00%) |
Effects of ratemaking | (5.00%) | (13.00%) | (5.00%) | (13.00%) |
Other | (1.00%) | 2% | (1.00%) | 3% |
Effective income tax rate | (41.00%) | (84.00%) | (136.00%) | (251.00%) |
Production Tax Credit Carryforwards [Abstract] | ||||
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 484 | $ 505 | ||
MidAmerican Funding, LLC | BHE | ||||
Related Party Income Tax Receivable (Payable) [Abstract] | ||||
Related party transaction, cash received (paid) for income taxes | $ 700 | $ 761 |
Income Taxes - NPC (Details)
Income Taxes - NPC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | 56% | 5% | (8.00%) | (18.00%) |
Effective income tax rate | 532% | 64% | (63.00%) | (178.00%) |
Related party transaction, cash received (paid) for income taxes | $ 1,000 | $ 1,742 | ||
NPC | ||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (12.00%) | (10.00%) | (12.00%) | (10.00%) |
Effective income tax rate | 9% | 11% | 9% | 11% |
Related party transaction, cash received (paid) for income taxes | $ 17 | $ 20 |
Income Taxes - SPPC (Details)
Income Taxes - SPPC (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | 56% | 5% | (8.00%) | (18.00%) |
Other | 0% | 0% | 1% | 3% |
Effective income tax rate | 532% | 64% | (63.00%) | (178.00%) |
Related party transaction, cash received (paid) for income taxes | $ 1,000,000,000 | $ 1,742,000,000 | ||
SPPC | ||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (8.00%) | (8.00%) | (8.00%) | (8.00%) |
Other | 1% | (1.00%) | 0% | 0% |
Effective income tax rate | 14% | 12% | 13% | 13% |
Related party transaction, cash received (paid) for income taxes | $ (54,000,000) | $ 0 |
Income Taxes - EEGH (Details)
Income Taxes - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | 44% | 0% | (5.00%) | (2.00%) | |
Equity interest | 9% | 0% | (2.00%) | (4.00%) | |
Noncontrolling interest | 11% | 2% | (4.00%) | (9.00%) | |
Other | 0% | 0% | 1% | 3% | |
Effective income tax rate | 532% | 64% | (63.00%) | (178.00%) | |
EEGH | |||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | (8.00%) | 6% | (1.00%) | 5% | |
Equity interest | 1% | 4% | 1% | 2% | |
Effects of ratemaking | 0% | 0% | 0% | (1.00%) | |
Noncontrolling interest | (10.00%) | (10.00%) | (10.00%) | (10.00%) | |
Other | (1.00%) | 0% | 0% | 0% | |
Effective income tax rate | 3% | 21% | 11% | 17% | |
EEGH | Related party | |||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Income taxes receivable | $ 241 | $ 241 | $ 16 | ||
EEGH | Cove Point LNG, LP | |||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Ownership interest | 25% |
Income Taxes - EGTS (Details)
Income Taxes - EGTS (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
State income tax, net of federal income tax impacts | 44% | 0% | (5.00%) | (2.00%) |
Other | 0% | 0% | 1% | 3% |
Effective income tax rate | 532% | 64% | (63.00%) | (178.00%) |
EGTS | ||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
State income tax, net of federal income tax impacts | 6% | 11% | 5% | 8% |
Other | 0% | 1% | 0% | 0% |
Effective income tax rate | 27% | 33% | 26% | 29% |
Employee Benefit Plans - BHE (D
Employee Benefit Plans - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 3 | $ 2 | $ 6 | $ 8 |
Interest cost | 8 | 5 | 22 | 15 |
Expected return on plan assets | (7) | (8) | (25) | (22) |
Net amortization | (1) | 0 | (2) | (1) |
Net periodic benefit cost (credit) | 3 | (1) | 1 | 0 |
U.S. | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 3 | 7 | 12 | 20 |
Interest cost | 27 | 20 | 82 | 58 |
Expected return on plan assets | (30) | (28) | (92) | (82) |
Settlement | 0 | 0 | (5) | 2 |
Net amortization | 4 | 4 | 11 | 13 |
Net periodic benefit cost (credit) | 4 | 3 | 8 | 11 |
United Kingdom | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 2 | 3 | 5 | 10 |
Interest cost | 14 | 8 | 42 | 27 |
Expected return on plan assets | (20) | (22) | (60) | (70) |
Net amortization | 7 | 6 | 20 | 18 |
Net periodic benefit cost (credit) | $ 3 | $ (5) | $ 7 | $ (15) |
Employee Benefit Plans - BHE -
Employee Benefit Plans - BHE - Employer Contributions (Details) - 9 months ended Sep. 30, 2023 £ in Millions, $ in Millions | USD ($) | GBP (£) | GBP (£) |
Other Postretirement Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, expected contributions in current fiscal year | $ 7 | ||
Employer contributions | 5 | ||
U.S. | Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, expected contributions in current fiscal year | 13 | ||
Employer contributions | 10 | ||
United Kingdom | Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, expected contributions in current fiscal year | £ | £ 11 | ||
Employer contributions | $ 10 | £ 8 |
Employee Benefit Plans - PAC (D
Employee Benefit Plans - PAC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 3 | $ 2 | $ 6 | $ 8 |
Interest cost | 8 | 5 | 22 | 15 |
Expected return on plan assets | (7) | (8) | (25) | (22) |
Net amortization | (1) | 0 | (2) | (1) |
Net periodic benefit cost (credit) | 3 | (1) | 1 | 0 |
U.S. | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 3 | 7 | 12 | 20 |
Interest cost | 27 | 20 | 82 | 58 |
Expected return on plan assets | (30) | (28) | (92) | (82) |
Net amortization | 4 | 4 | 11 | 13 |
Net periodic benefit cost (credit) | 4 | 3 | 8 | 11 |
PAC | Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0 | 0 | 1 | 1 |
Interest cost | 3 | 2 | 8 | 6 |
Expected return on plan assets | (3) | (3) | (10) | (8) |
Net amortization | (1) | 1 | (2) | 1 |
Net periodic benefit cost (credit) | (1) | 0 | (3) | 0 |
PAC | U.S. | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 10 | 8 | 29 | 22 |
Expected return on plan assets | (12) | (11) | (36) | (32) |
Net amortization | 3 | 4 | 9 | 12 |
Net periodic benefit cost (credit) | $ 1 | $ 1 | $ 2 | $ 2 |
Employee Benefit Plans - PAC -
Employee Benefit Plans - PAC - Employer Contributions (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | $ 7 |
Employer contributions | 5 |
U.S. | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 13 |
Employer contributions | 10 |
PAC | Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 0 |
PAC | U.S. | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 4 |
Employer contributions | $ 3 |
Employee Benefit Plans - MEC (D
Employee Benefit Plans - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Pension Plan | U.S. | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 3 | $ 7 | $ 12 | $ 20 |
Interest cost | 27 | 20 | 82 | 58 |
Expected return on plan assets | (30) | (28) | (92) | (82) |
Settlement | 0 | 0 | (5) | 2 |
Net amortization | 4 | 4 | 11 | 13 |
Net periodic benefit cost (credit) | 4 | 3 | 8 | 11 |
Pension Plan | U.S. | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 2 | 5 | 8 | 14 |
Interest cost | 8 | 5 | 24 | 15 |
Expected return on plan assets | (7) | (7) | (23) | (21) |
Settlement | 0 | 0 | (5) | 2 |
Net amortization | 0 | 0 | 0 | 1 |
Net periodic benefit cost (credit) | 3 | 3 | 4 | 11 |
Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 3 | 2 | 6 | 8 |
Interest cost | 8 | 5 | 22 | 15 |
Expected return on plan assets | (7) | (8) | (25) | (22) |
Net amortization | (1) | 0 | (2) | (1) |
Net periodic benefit cost (credit) | 3 | (1) | 1 | 0 |
Other Postretirement Plans | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 2 | 2 | 4 | 6 |
Interest cost | 4 | 2 | 10 | 6 |
Expected return on plan assets | (3) | (4) | (11) | (11) |
Net amortization | 0 | (1) | 0 | (2) |
Net periodic benefit cost (credit) | $ 3 | $ (1) | $ 3 | $ (1) |
Employee Benefit Plans - MEC -
Employee Benefit Plans - MEC - Employer Contributions (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | $ 7 |
Employer contributions | 5 |
MEC | Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 2 |
Employer contributions | 2 |
U.S. | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 13 |
Employer contributions | 10 |
U.S. | MEC | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 7 |
Employer contributions | $ 5 |
Employee Benefit Plans - NPC (D
Employee Benefit Plans - NPC (Details) - NPC - U.S. - NV Energy - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Other Assets | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | $ 26 | $ 27 |
Other Assets | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | 7 | 7 |
Other Current Liabilities | Other Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other current liabilities | (1) | (1) |
Other Noncurrent Liabilities | Other Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other long-term liabilities | $ (6) | $ (6) |
Employee Benefit Plans - SPPC (
Employee Benefit Plans - SPPC (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2022 | |
Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | $ 5 | |
U.S. | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 10 | |
SPPC | U.S. | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 3 | |
SPPC | U.S. | NV Energy | Other Assets | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | 45 | $ 43 |
SPPC | U.S. | NV Energy | Other Assets | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | 1 | 0 |
SPPC | U.S. | NV Energy | Other Current Liabilities | Other Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other current liabilities | (1) | (1) |
SPPC | U.S. | NV Energy | Other Noncurrent Liabilities | Other Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other long-term liabilities | (5) | (5) |
SPPC | U.S. | NV Energy | Other Noncurrent Liabilities | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other long-term liabilities | $ 0 | $ (2) |
Employee Benefit Plans - EEGH (
Employee Benefit Plans - EEGH (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
EEGH | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension plan liability, noncurrent | $ 51 | $ 51 | |
Pension Plan | EEGH | MidAmerican Energy Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 6 | $ 10 | |
Other Postretirement Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 5 | ||
Other Postretirement Plans | EEGH | MidAmerican Energy Retiree Health and Welfare Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 1 | $ 2 |
Employee Benefit Plans - EGTS (
Employee Benefit Plans - EGTS (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Other Postretirement Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 5 | ||
EGTS | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employee benefit plan liability, noncurrent | 47 | $ 47 | |
EGTS | MidAmerican Energy Company Retirement Plan | Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 5 | $ 9 | |
EGTS | MidAmerican Energy Retiree Health and Welfare Plan | Other Postretirement Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 1 | $ 2 |
Asset Retirement Obligations -
Asset Retirement Obligations - BHE (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
MEC | |
Asset Retirement Obligations By Type [Line Items] | |
Asset retirement obligation, liability incurred | $ 88 |
Asset Retirement Obligations _2
Asset Retirement Obligations - MEC (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
MEC | |
Asset Retirement Obligations By Type [Line Items] | |
Asset retirement obligation, liability incurred | $ 88 |
Risk Management and Hedging A_3
Risk Management and Hedging Activities - PAC - Balance Sheet Location (Details) - PAC - Commodity derivatives - USD ($) $ in Millions | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||||||
Total | $ 50 | $ 270 | ||||
Cash collateral (payable) receivable | (3) | (78) | ||||
Total derivatives - net basis | 47 | 192 | ||||
Cash collateral payable, not offset | 12 | |||||
Derivative Contracts - Current Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total | 55 | 257 | ||||
Cash collateral (payable) receivable | (8) | (73) | ||||
Total derivatives - net basis | 47 | 184 | ||||
Other Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total | 7 | 20 | ||||
Cash collateral (payable) receivable | 0 | (5) | ||||
Total derivatives - net basis | 7 | 15 | ||||
Other Current Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total | (12) | (5) | ||||
Cash collateral (payable) receivable | 5 | 0 | ||||
Total derivatives - net basis | (7) | (5) | ||||
Other Noncurrent Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total | 0 | (2) | ||||
Cash collateral (payable) receivable | 0 | 0 | ||||
Total derivatives - net basis | 0 | (2) | ||||
Not Designated as Hedging | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 82 | 318 | ||||
Derivative liability | (32) | (48) | ||||
Total | 50 | 270 | ||||
Net regulatory asset (liability) on derivative contracts | (50) | $ (9) | (270) | $ (166) | $ (223) | $ (53) |
Not Designated as Hedging | Derivative Contracts - Current Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 66 | 279 | ||||
Derivative liability | (11) | (22) | ||||
Total | 55 | 257 | ||||
Not Designated as Hedging | Other Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 11 | 27 | ||||
Derivative liability | (4) | (7) | ||||
Total | 7 | 20 | ||||
Not Designated as Hedging | Other Current Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 5 | 9 | ||||
Derivative liability | (17) | (14) | ||||
Total | (12) | (5) | ||||
Not Designated as Hedging | Other Noncurrent Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 0 | 3 | ||||
Derivative liability | 0 | (5) | ||||
Total | $ 0 | $ (2) |
Risk Management and Hedging A_4
Risk Management and Hedging Activities - PAC - Not Designated as Hedging Contracts (Details) - PAC - Not Designated as Hedging - Commodity derivatives - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Instruments [Roll Forward] | ||||
Beginning balance | $ (9) | $ (223) | $ (270) | $ (53) |
Changes in fair value recognized in regulatory (liabilities) assets | (9) | (79) | 83 | (296) |
Net gains (losses) reclassified to operating revenue | 0 | 7 | (8) | (4) |
Net (losses) gains reclassified to energy costs | (32) | 129 | 145 | 187 |
Ending balance | $ (50) | $ (166) | $ (50) | $ (166) |
Risk Management and Hedging A_5
Risk Management and Hedging Activities - PAC - Derivative Contract Volumes (Details) - PAC - Commodity derivatives MWh in Millions, Dth in Millions | Sep. 30, 2023 Dth MWh | Dec. 31, 2022 MWh Dth |
Electricity purchases, net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | MWh | 2 | 2 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | Dth | 126 | 127 |
Risk Management and Hedging A_6
Risk Management and Hedging Activities - PAC - Collateral and Contingent Features (Details) - PAC - Commodity derivatives - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 32 | $ 48 |
Collateral already posted, aggregate fair value | 5 | 0 |
Additional collateral, aggregate fair value | $ 7 | $ 3 |
Risk Management and Hedging A_7
Risk Management and Hedging Activities - NPC - Balance Sheet Location (Details) - NPC - Commodity derivatives - Not Designated as Hedging - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | $ 23 | |
Derivative liability | (75) | |
Total | $ (58) | (52) |
Net regulatory asset (liability) on derivative contracts | 58 | 52 |
Other Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 23 | |
Derivative liability | 0 | |
Total | 0 | 23 |
Derivative Contracts - Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | (51) | |
Total | (49) | (51) |
Other Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | (24) | |
Total | $ (9) | $ (24) |
Risk Management and Hedging A_8
Risk Management and Hedging Activities - NPC - Derivative Contract Volumes (Details) - NPC - Commodity derivatives MWh in Millions, Dth in Millions | Sep. 30, 2023 Dth MWh | Dec. 31, 2022 MWh Dth |
Electricity purchases (sales), net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | MWh | 1 | 2 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | Dth | 162 | 109 |
Risk Management and Hedging A_9
Risk Management and Hedging Activities - NPC - Narrative (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Commodity derivatives | NPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 9 | $ 5 |
Risk Management and Hedging _10
Risk Management and Hedging Activities - SPPC - Balance Sheet Location (Details) - SPPC - Commodity derivatives - Not Designated as Hedging - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | $ 8 | |
Derivative liability | (21) | |
Total | $ (12) | (13) |
Net regulatory asset (liability) on derivative contracts | 12 | 13 |
Other Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 8 | |
Derivative liability | 0 | |
Total | 0 | 8 |
Derivative Contracts - Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | (14) | |
Total | (11) | (14) |
Other Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | (7) | |
Total | $ (1) | $ (7) |
Risk Management and Hedging _11
Risk Management and Hedging Activities - SPPC - Derivative Contract Volumes (Details) - SPPC - Commodity derivatives MWh in Millions, Dth in Millions | Sep. 30, 2023 Dth MWh | Dec. 31, 2022 MWh Dth |
Electricity purchases (sales), net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | MWh | 0 | 1 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | Dth | 70 | 52 |
Risk Management and Hedging _12
Risk Management and Hedging Activities -SPPC - Narrative (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Commodity derivatives | SPPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 1 | $ 0 |
Fair Value Measurements - BHE (
Fair Value Measurements - BHE (Details) - Recurring - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (37) | $ (194) |
Assets, fair value | 7,092 | 8,824 |
Derivative liability, offset | 45 | 107 |
Derivative liability | (121) | (242) |
Cash collateral receivable (payable) | 8 | (87) |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Mortgage loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 616 | 474 |
U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 866 | 2,146 |
International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 74 | 70 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 380 | 360 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 2,802 | 3,771 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6,179 | 7,742 |
Derivative liability | (4) | (8) |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Level 1 | Mortgage loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 0 | 0 |
Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 866 | 2,146 |
Level 1 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
Level 1 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
Level 1 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 380 | 360 |
Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 2,802 | 3,771 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 929 | 1,217 |
Derivative liability | (63) | (229) |
Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Level 2 | Mortgage loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 616 | 474 |
Level 2 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 2 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 74 | 70 |
Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Level 2 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
Level 2 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 21 | 59 |
Derivative liability | (99) | (112) |
Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Level 3 | Mortgage loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 0 | 0 |
Level 3 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
Level 3 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
Level 3 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (37) | (194) |
Derivative asset | 145 | 477 |
Derivative liability, offset | 45 | 106 |
Derivative liability | (100) | (218) |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 6 |
Derivative liability, gross | (4) | (8) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 170 | 614 |
Derivative liability, gross | (45) | (206) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 12 | 51 |
Derivative liability, gross | (96) | (110) |
Foreign currency exchange rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (18) | (21) |
Foreign currency exchange rate derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability, gross | 0 | 0 |
Foreign currency exchange rate derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability, gross | (18) | (21) |
Foreign currency exchange rate derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability, gross | 0 | 0 |
Interest rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 123 | 112 |
Derivative liability, offset | 1 | |
Derivative liability | (3) | (3) |
Interest rate derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 48 | 50 |
Derivative liability, gross | 0 | 0 |
Interest rate derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 66 | 54 |
Derivative liability, gross | 0 | (2) |
Interest rate derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 9 | 8 |
Derivative liability, gross | $ (3) | $ (2) |
Fair Value Measurements - BHE -
Fair Value Measurements - BHE - Level 3 (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Commodity derivatives | ||||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (174) | $ (178) | $ (59) | $ (151) |
Changes included in earnings | (1) | (14) | 9 | (96) |
Changes in fair value recognized in OCI | 0 | 3 | (3) | 13 |
Changes in fair value recognized in regulatory assets | (48) | (5) | (231) | (64) |
Purchases | 1 | 1 | 1 | 2 |
Settlements | 138 | 138 | 199 | 172 |
Transfers out of Level 3 into Level 2 | 0 | 69 | ||
Ending balance | (84) | (55) | (84) | (55) |
Interest rate derivatives | ||||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 11 | 21 | 6 | 19 |
Changes included in earnings | (5) | (22) | 0 | (20) |
Changes in fair value recognized in OCI | 0 | 0 | 0 | 0 |
Changes in fair value recognized in regulatory assets | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Transfers out of Level 3 into Level 2 | 0 | 0 | ||
Ending balance | $ 6 | $ (1) | $ 6 | $ (1) |
Fair Value Measurements - BHE_2
Fair Value Measurements - BHE - Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 52,720 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 45,166 | $ 46,906 |
Fair Value Measurements - PAC (
Fair Value Measurements - PAC (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (37) | $ (194) |
Assets, fair value | 7,092 | 8,824 |
Derivative liability, offset | 45 | 107 |
Derivative liability | (121) | (242) |
Cash collateral receivable (payable) | 8 | (87) |
Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6,179 | 7,742 |
Derivative liability | (4) | (8) |
Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 929 | 1,217 |
Derivative liability | (63) | (229) |
Recurring | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 21 | 59 |
Derivative liability | (99) | (112) |
Recurring | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (37) | (194) |
Derivative asset | 145 | 477 |
Derivative liability, offset | 45 | 106 |
Derivative liability | (100) | (218) |
Commodity derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 6 |
Derivative liability, gross | (4) | (8) |
Commodity derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 170 | 614 |
Derivative liability, gross | (45) | (206) |
Commodity derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 12 | 51 |
Derivative liability, gross | (96) | (110) |
PAC | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 29 | 23 |
Assets, fair value | 203 | 871 |
PAC | Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 120 | 649 |
PAC | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 29 | 23 |
Assets, fair value | 149 | 672 |
PAC | Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 120 | 649 |
PAC | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Assets, fair value | 82 | 318 |
PAC | Recurring | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
PAC | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Assets, fair value | 0 | 0 |
PAC | Recurring | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
PAC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash collateral receivable (payable) | (3) | (78) |
Cash collateral payable, not offset | 12 | |
PAC | Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (28) | (119) |
Derivative asset | 54 | 199 |
Derivative liability, offset | 25 | 41 |
Derivative liability | (7) | (7) |
Cash collateral receivable (payable) | (3) | (78) |
Cash collateral payable, not offset | 12 | |
PAC | Commodity derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability, gross | 0 | 0 |
PAC | Commodity derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 82 | 318 |
Derivative liability, gross | (32) | (48) |
PAC | Commodity derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability, gross | $ 0 | $ 0 |
Fair Value Measurements - PAC -
Fair Value Measurements - PAC - Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 52,720 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 45,166 | 46,906 |
PAC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 10,457 | 9,666 |
PAC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 8,834 | $ 9,045 |
Fair Value Measurements - MEC (
Fair Value Measurements - MEC (Details) - Recurring - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (37) | $ (194) |
Assets, fair value | 7,092 | 8,824 |
Derivative liability, offset | 45 | 107 |
Cash collateral receivable (payable) | 8 | (87) |
U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 866 | 2,146 |
International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 74 | 70 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 380 | 360 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 2,802 | 3,771 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6,179 | 7,742 |
Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 866 | 2,146 |
Level 1 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
Level 1 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
Level 1 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 380 | 360 |
Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 2,802 | 3,771 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 929 | 1,217 |
Level 2 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 2 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 74 | 70 |
Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Level 2 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
Level 2 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 21 | 59 |
Level 3 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
Level 3 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
Level 3 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (37) | (194) |
Derivative liability, offset | 45 | 106 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 6 |
Derivative liability | (4) | (8) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 170 | 614 |
Derivative liability | (45) | (206) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 12 | 51 |
Derivative liability | (96) | (110) |
MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,438 | 933 |
Cash collateral receivable (payable) | 12 | 0 |
MEC | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 239 | 215 |
MEC | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 1 |
MEC | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 74 | 70 |
MEC | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
MEC | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
MEC | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 380 | 360 |
MEC | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 8 | 8 |
MEC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 22 | 16 |
MEC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 707 | 225 |
MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,356 | 825 |
MEC | Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 239 | 215 |
MEC | Level 1 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 1 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 1 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 1 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
MEC | Level 1 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 380 | 360 |
MEC | Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 8 | 8 |
MEC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 22 | 16 |
MEC | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 707 | 225 |
MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 85 | 112 |
MEC | Level 2 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 2 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 1 |
MEC | Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 74 | 70 |
MEC | Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
MEC | Level 2 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
MEC | Level 2 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
MEC | Level 2 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
MEC | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | |
MEC | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 2 | 6 |
MEC | Level 3 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 3 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 3 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 3 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 3 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
MEC | Level 3 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
MEC | Level 3 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
MEC | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | |
MEC | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
MEC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 5 | 34 |
Derivative asset, offset | (5) | (10) |
Derivative liability | (20) | (3) |
Derivative liability, offset | 17 | 10 |
MEC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 1 |
Derivative liability | 0 | 0 |
MEC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 8 | 37 |
Derivative liability | (20) | (12) |
MEC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 2 | 6 |
Derivative liability | $ (17) | $ (1) |
Fair Value Measurements - MEC -
Fair Value Measurements - MEC - Level 3 (Details) - MEC - Commodity - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (14) | $ 26 | $ 5 | $ (5) |
Changes in fair value recognized in regulatory assets | (9) | (2) | (36) | 42 |
Settlements | 8 | (10) | 16 | (23) |
Ending balance | $ (15) | $ 14 | $ (15) | $ 14 |
Fair Value Measurements - MEC_2
Fair Value Measurements - MEC - Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 52,720 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 45,166 | 46,906 |
MEC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 8,765 | 7,729 |
MEC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 7,594 | $ 6,964 |
Fair Value Measurements - LLC (
Fair Value Measurements - LLC (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 52,720 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 45,166 | 46,906 |
MidAmerican Funding, LLC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 9,005 | 7,969 |
MidAmerican Funding, LLC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 7,844 | $ 7,219 |
Fair Value Measurements - NPC (
Fair Value Measurements - NPC (Details) - Recurring - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 7,092 | $ 8,824 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6,179 | 7,742 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 929 | 1,217 |
Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 21 | 59 |
Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 6 |
Derivative liability | (4) | (8) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 170 | 614 |
Derivative liability | (45) | (206) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 12 | 51 |
Derivative liability | (96) | (110) |
NPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 38 | 60 |
NPC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 4 | 3 |
NPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 34 | 34 |
NPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 38 | 37 |
NPC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 4 | 3 |
NPC | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 34 | 34 |
NPC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
NPC | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
NPC | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
NPC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 23 |
NPC | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
NPC | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
NPC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 23 | |
Derivative liability | (58) | (75) |
NPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | 0 | 0 |
NPC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | 0 | 0 |
NPC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 23 | |
Derivative liability | $ (58) | $ (75) |
Fair Value Measurements - NPC -
Fair Value Measurements - NPC - Level 3 (Details) - NPC - Commodity - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (126) | $ (175) | $ (52) | $ (113) |
Changes in fair value recognized in regulatory assets | (31) | (4) | (150) | (81) |
Settlements | 99 | 113 | 144 | 128 |
Ending balance | $ (58) | $ (66) | $ (58) | $ (66) |
Fair Value Measurements - NPC_2
Fair Value Measurements - NPC - Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 52,720 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 45,166 | 46,906 |
NPC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 3,391 | 3,195 |
NPC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 3,146 | $ 3,114 |
Fair Value Measurements - SPPC
Fair Value Measurements - SPPC (Details) - Recurring - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 7,092 | $ 8,824 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6,179 | 7,742 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 929 | 1,217 |
Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 21 | 59 |
Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 6 |
Derivative liability | (4) | (8) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 170 | 614 |
Derivative liability | (45) | (206) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 12 | 51 |
Derivative liability | (96) | (110) |
SPPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 39 | 58 |
SPPC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1 | 1 |
SPPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 38 | 49 |
SPPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 39 | 50 |
SPPC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1 | 1 |
SPPC | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 38 | 49 |
SPPC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
SPPC | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
SPPC | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
SPPC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 8 |
SPPC | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
SPPC | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
SPPC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 8 | |
Derivative liability | (12) | (21) |
SPPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | 0 | 0 |
SPPC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | 0 | 0 |
SPPC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 8 | |
Derivative liability | $ (12) | $ (21) |
Fair Value Measurements - SPP_2
Fair Value Measurements - SPPC - Level 3 (Details) - Commodity - SPPC - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (36) | $ (54) | $ (13) | $ (33) |
Changes in fair value recognized in regulatory assets | (8) | 1 | (45) | (25) |
Settlements | 32 | 36 | 46 | 41 |
Ending balance | $ (12) | $ (17) | $ (12) | $ (17) |
Fair Value Measurements - SPP_3
Fair Value Measurements - SPPC - Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 52,720 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 45,166 | 46,906 |
SPPC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 1,292 | 1,148 |
SPPC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,218 | $ 1,111 |
Fair Value Measurements - EEGH
Fair Value Measurements - EEGH (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | $ 18 | $ 14 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,092 | 8,824 |
Derivative liability | (121) | (242) |
Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Recurring | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Recurring | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 112 | 57 |
Total liabilities | (18) | (20) |
Recurring | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 94 | 42 |
Recurring | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 18 | 14 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6,179 | 7,742 |
Derivative liability | (4) | (8) |
Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Recurring | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 285 | 231 |
Recurring | Level 1 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 112 | 56 |
Total liabilities | 0 | 0 |
Recurring | Level 1 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 94 | 42 |
Recurring | Level 1 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 18 | 14 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 929 | 1,217 |
Derivative liability | (63) | (229) |
Recurring | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Recurring | Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 1 |
Total liabilities | (18) | (20) |
Recurring | Level 2 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 2 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 21 | 59 |
Derivative liability | (99) | (112) |
Recurring | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Recurring | Level 3 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Total liabilities | 0 | 0 |
Recurring | Level 3 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 3 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 145 | 477 |
Derivative liability | (100) | (218) |
Commodity derivatives | Recurring | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | |
Commodity derivatives | Recurring | Level 1 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
Commodity derivatives | Recurring | Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | |
Commodity derivatives | Recurring | Level 3 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
Foreign currency exchange rate derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (18) | (21) |
Foreign currency exchange rate derivatives | Recurring | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (18) | (20) |
Foreign currency exchange rate derivatives | Recurring | Level 1 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 0 | 0 |
Foreign currency exchange rate derivatives | Recurring | Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (18) | (20) |
Foreign currency exchange rate derivatives | Recurring | Level 3 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | $ 0 | $ 0 |
Fair Value Measurements - EEG_2
Fair Value Measurements - EEGH - Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 52,720 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 45,166 | 46,906 |
EEGH | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 3,642 | 3,892 |
EEGH | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 3,200 | $ 3,510 |
Fair Value Measurements - EGTS
Fair Value Measurements - EGTS (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | $ 18 | $ 14 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,092 | 8,824 |
Recurring | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 145 | 477 |
Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Recurring | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 18 | 14 |
Assets, fair value | 30 | 23 |
Recurring | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | |
Recurring | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 12 | 8 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6,179 | 7,742 |
Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,798 | 1,178 |
Recurring | Level 1 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 18 | 14 |
Assets, fair value | 30 | 22 |
Recurring | Level 1 | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
Recurring | Level 1 | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 12 | 8 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 929 | 1,217 |
Recurring | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 2 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | 0 |
Assets, fair value | 0 | 1 |
Recurring | Level 2 | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | |
Recurring | Level 2 | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 21 | 59 |
Recurring | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 3 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | 0 |
Assets, fair value | 0 | 0 |
Recurring | Level 3 | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
Recurring | Level 3 | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | $ 0 | $ 0 |
Fair Value Measurements - EGT_2
Fair Value Measurements - EGTS - Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 52,720 | $ 51,635 |
Carrying Value | EGTS | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 1,583 | 1,582 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 45,166 | 46,906 |
Level 2 | Fair Value | EGTS | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,275 | $ 1,337 |
Commitments and Contingencies -
Commitments and Contingencies - BHE - Narrative (Details) naturalGasProducer in Thousands, a in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||
Oct. 16, 2023 USD ($) case | Sep. 30, 2023 USD ($) trial dam | Jun. 30, 2023 USD ($) wildfire plaintiff | Apr. 30, 2023 plaintiff | Sep. 30, 2020 a naturalGasProducer | Sep. 30, 2023 USD ($) dam | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) dam | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Long-Term Purchase Commitment [Line Items] | ||||||||||
Wildfire losses, net of recoveries | $ 1,263 | $ 0 | $ 1,671 | $ 64 | ||||||
HomeServices antitrust cases | HomeServices | Subsequent event | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Number of trials | case | 4 | |||||||||
Number of trials, inestimable loss | case | 3 | |||||||||
HomeServices antitrust case, sellers | HomeServices | Subsequent event | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Number of trials | case | 3 | |||||||||
HomeServices antitrust case, sellers | Burnett case | HomeServices | Subsequent event | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Damages awarded | $ 1,800 | |||||||||
Estimate of possible loss (up to) | $ 5,400 | |||||||||
HomeServices antitrust case, buyers | HomeServices | Subsequent event | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Number of trials | case | 1 | |||||||||
PAC | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Wildfire losses, net of recoveries | $ 1,263 | 0 | $ 1,671 | 64 | ||||||
PAC | Lower Klamath Hydroelectric System | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Number of dams | dam | 3 | 3 | 3 | |||||||
Hydroelectric dam removal cost, total funding | $ 450 | $ 450 | $ 450 | |||||||
Dam removal cost collected | 200 | |||||||||
Additional dam removal costs, California bond measure | 250 | |||||||||
Hydroelectric dam removal cost, additional contingency funding | 45 | 45 | 45 | |||||||
PAC | Wildfires | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Accrued losses | 1,387 | 0 | 1,928 | 225 | ||||||
Estimate of possible loss (up to) | 2,405 | 2,405 | 2,405 | |||||||
Receivable, expected insurance recoveries | $ 503 | 503 | 503 | $ 246 | ||||||
Wildfire losses, net of recoveries | 1,263 | $ 0 | 1,671 | $ 64 | ||||||
PAC | 2020 Wildfires | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Number of acres burned | a | 500 | |||||||||
Number of structures destroyed | naturalGasProducer | 2 | |||||||||
PAC | 2020 Wildfires | James case | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Number of plaintiffs | plaintiff | 17 | 17 | ||||||||
Damages sought | $ 8,000 | |||||||||
Number of wildfires | wildfire | 4 | |||||||||
Damages awarded | $ 90 | |||||||||
Multiplier | 0.25 | |||||||||
Number of trials | trial | 3 | |||||||||
PAC | 2020 Wildfires | James case | Economic and property damages | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Damages awarded | $ 4 | |||||||||
PAC | 2020 Wildfires | James case | Noneconomic damages | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Damages awarded | 68 | |||||||||
PAC | 2020 Wildfires | James case | Punitive damages | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Damages awarded | $ 18 | |||||||||
PAC | 2020 Wildfires | James case, 10 class members | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Number of trials | trial | 2 | |||||||||
Construction commitment | PAC | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Purchase obligation | $ 1,200 | 1,200 | 1,200 | |||||||
Construction commitment | MEC | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Purchase obligation | 354 | 354 | 354 | |||||||
Fuel contracts | PAC | ||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||
Purchase obligation | $ 425 | $ 425 | $ 425 |
Commitments and Contingencies_2
Commitments and Contingencies - BHE - Contingency Accrual (Details) - PAC - Wildfires - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Loss Contingency Accrual [Roll Forward] | ||||
Beginning balance | $ 948 | $ 477 | $ 424 | $ 252 |
Accrued losses | 1,387 | 0 | 1,928 | 225 |
Payments | (57) | 0 | (74) | 0 |
Ending balance | $ 2,278 | $ 477 | $ 2,278 | $ 477 |
Commitments and Contingencies_3
Commitments and Contingencies - PAC - Narrative (Details) naturalGasProducer in Thousands, a in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 USD ($) trial dam | Jun. 30, 2023 USD ($) plaintiff wildfire | Apr. 30, 2023 plaintiff | Sep. 30, 2020 a naturalGasProducer | Sep. 30, 2023 USD ($) dam | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) dam | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Loss Contingencies [Line Items] | |||||||||
Wildfire losses, net of recoveries | $ 1,263 | $ 0 | $ 1,671 | $ 64 | |||||
PAC | |||||||||
Loss Contingencies [Line Items] | |||||||||
Wildfire losses, net of recoveries | 1,263 | 0 | 1,671 | 64 | |||||
PAC | Construction commitment | |||||||||
Loss Contingencies [Line Items] | |||||||||
Purchase obligation | $ 1,200 | 1,200 | 1,200 | ||||||
PAC | Fuel contracts | |||||||||
Loss Contingencies [Line Items] | |||||||||
Purchase obligation | $ 425 | $ 425 | $ 425 | ||||||
PAC | Lower Klamath Hydroelectric System | |||||||||
Loss Contingencies [Line Items] | |||||||||
Number of dams | dam | 3 | 3 | 3 | ||||||
Hydroelectric dam removal cost, total funding | $ 450 | $ 450 | $ 450 | ||||||
Dam removal cost collected | 200 | ||||||||
Additional dam removal costs, California bond measure | 250 | ||||||||
Hydroelectric dam removal cost, additional contingency funding | 45 | 45 | 45 | ||||||
Wildfires | PAC | |||||||||
Loss Contingencies [Line Items] | |||||||||
Accrued losses | 1,387 | 0 | 1,928 | 225 | |||||
Estimate of possible loss | 2,405 | 2,405 | 2,405 | ||||||
Receivable, expected insurance recoveries | $ 503 | 503 | 503 | $ 246 | |||||
Wildfire losses, net of recoveries | $ 1,263 | $ 0 | $ 1,671 | $ 64 | |||||
2020 Wildfires | PAC | |||||||||
Loss Contingencies [Line Items] | |||||||||
Number of acres burned | a | 500 | ||||||||
Number of structures destroyed | naturalGasProducer | 2 | ||||||||
2020 Wildfires | PAC | James case | |||||||||
Loss Contingencies [Line Items] | |||||||||
Number of plaintiffs | plaintiff | 17 | 17 | |||||||
Damages sought | $ 8,000 | ||||||||
Number of wildfires | wildfire | 4 | ||||||||
Damages awarded | $ 90 | ||||||||
Multiplier | 0.25 | ||||||||
Number of trials | trial | 3 | ||||||||
2020 Wildfires | PAC | James case | Economic and property damages | |||||||||
Loss Contingencies [Line Items] | |||||||||
Damages awarded | $ 4 | ||||||||
2020 Wildfires | PAC | James case | Noneconomic damages | |||||||||
Loss Contingencies [Line Items] | |||||||||
Damages awarded | 68 | ||||||||
2020 Wildfires | PAC | James case | Punitive damages | |||||||||
Loss Contingencies [Line Items] | |||||||||
Damages awarded | $ 18 | ||||||||
2020 Wildfires | PAC | James case, 10 class members | |||||||||
Loss Contingencies [Line Items] | |||||||||
Number of trials | trial | 2 |
Commitments and Contingencies_4
Commitments and Contingencies - PAC - Contingency Accrual (Details) - Wildfires - PAC - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Loss Contingency Accrual [Roll Forward] | ||||
Beginning balance | $ 948 | $ 477 | $ 424 | $ 252 |
Accrued losses | 1,387 | 0 | 1,928 | 225 |
Payments | (57) | 0 | (74) | 0 |
Ending balance | $ 2,278 | $ 477 | $ 2,278 | $ 477 |
Commitments and Contingencies_5
Commitments and Contingencies - MEC (Details) $ in Millions | Sep. 30, 2023 USD ($) |
MEC | Construction commitment | |
Loss Contingencies [Line Items] | |
Purchase obligation | $ 354 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 5,816 | 5,910 | 15,910 | 15,374 |
Other revenue | 142 | 185 | 452 | 484 |
Operating revenue | 5,958 | 6,095 | 16,362 | 15,858 |
PAC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,676 | 1,635 | 4,487 | 4,246 |
PAC | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,665 | 1,612 | 4,461 | 4,199 |
Other revenue | 11 | 23 | 26 | 47 |
Operating revenue | 1,676 | 1,635 | 4,487 | 4,246 |
MidAmerican Funding | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 964 | 1,148 | 2,643 | 3,050 |
MidAmerican Funding | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 948 | 1,121 | 2,577 | 2,970 |
Other revenue | 16 | 27 | 66 | 80 |
Operating revenue | 964 | 1,148 | 2,643 | 3,050 |
NV Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,518 | 1,334 | 3,636 | 2,926 |
NV Energy | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,514 | 1,327 | 3,622 | 2,908 |
Other revenue | 4 | 7 | 14 | 18 |
Operating revenue | 1,518 | 1,334 | 3,636 | 2,926 |
Northern Powergrid | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 314 | 359 | 975 | 1,019 |
Northern Powergrid | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 283 | 331 | 886 | 931 |
Other revenue | 32 | 28 | 89 | 88 |
Operating revenue | 315 | 359 | 975 | 1,019 |
BHE Pipeline Group | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 804 | 964 | 2,795 | 2,855 |
BHE Pipeline Group | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 789 | 921 | 2,746 | 2,754 |
Other revenue | 15 | 43 | 49 | 101 |
Operating revenue | 804 | 964 | 2,795 | 2,855 |
BHE Transmission | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 196 | 177 | 593 | 543 |
BHE Transmission | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 195 | 184 | 596 | 554 |
Other revenue | 1 | (7) | (3) | (11) |
Operating revenue | 196 | 177 | 593 | 543 |
BHE Renewables | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 457 | 440 | 1,138 | 1,156 |
Other revenue | 62 | 67 | 211 | 165 |
Operating revenue | 519 | 507 | 1,349 | 1,321 |
BHE and Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | (33) | (28) | (116) | (101) |
BHE and Other | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (35) | (26) | (116) | (98) |
Other revenue | 1 | (3) | 0 | (4) |
Operating revenue | (34) | (29) | (116) | (102) |
Regulated | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 5,062 | 5,055 | 13,785 | 13,159 |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,763 | 3,513 | 9,295 | 8,360 |
Regulated | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 105 | 118 | 630 | 670 |
Regulated | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 141 | 310 | 421 | 733 |
Regulated | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 493 | 522 | 1,485 | 1,553 |
Regulated | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 521 | 568 | 1,858 | 1,769 |
Regulated | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 39 | 24 | 96 | 74 |
Regulated | PAC | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,665 | 1,612 | 4,461 | 4,199 |
Regulated | PAC | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,543 | 1,465 | 4,124 | 3,817 |
Regulated | PAC | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | PAC | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 47 | 69 | 134 | 179 |
Regulated | PAC | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 44 | 54 | 116 | 131 |
Regulated | PAC | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | PAC | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 31 | 24 | 87 | 72 |
Regulated | MidAmerican Funding | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 946 | 1,120 | 2,571 | 2,967 |
Regulated | MidAmerican Funding | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 773 | 799 | 1,833 | 1,865 |
Regulated | MidAmerican Funding | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 77 | 97 | 463 | 570 |
Regulated | MidAmerican Funding | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 81 | 208 | 233 | 488 |
Regulated | MidAmerican Funding | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 15 | 16 | 42 | 44 |
Regulated | MidAmerican Funding | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | MidAmerican Funding | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | NV Energy | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,512 | 1,327 | 3,619 | 2,907 |
Regulated | NV Energy | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,448 | 1,250 | 3,339 | 2,680 |
Regulated | NV Energy | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 20 | 167 | 99 |
Regulated | NV Energy | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 15 | 33 | 55 | 68 |
Regulated | NV Energy | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 21 | 24 | 58 | 59 |
Regulated | NV Energy | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | NV Energy | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 1 |
Regulated | Northern Powergrid | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 248 | 260 | 773 | 803 |
Regulated | Northern Powergrid | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 248 | 260 | 773 | 803 |
Regulated | Northern Powergrid | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 559 | 595 | 1,980 | 1,865 |
Regulated | BHE Pipeline Group | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 551 | 594 | 1,971 | 1,863 |
Regulated | BHE Pipeline Group | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 8 | 1 | 9 | 2 |
Regulated | BHE Transmission | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 165 | 168 | 496 | 516 |
Regulated | BHE Transmission | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 165 | 168 | 496 | 516 |
Regulated | BHE Transmission | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE and Other | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (33) | (27) | (115) | (98) |
Regulated | BHE and Other | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (1) | (1) | (1) | (2) |
Regulated | BHE and Other | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 1 | 0 | 1 |
Regulated | BHE and Other | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (2) | 0 | (1) | (2) |
Regulated | BHE and Other | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE and Other | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (30) | (26) | (113) | (94) |
Regulated | BHE and Other | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | (1) | 0 | (1) |
Nonregulated | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 754 | 855 | 2,125 | 2,215 |
Nonregulated | PAC | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Nonregulated | MidAmerican Funding | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 1 | 6 | 3 |
Nonregulated | NV Energy | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 0 | 3 | 1 |
Nonregulated | Northern Powergrid | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 35 | 71 | 113 | 128 |
Nonregulated | BHE Pipeline Group | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 230 | 326 | 766 | 889 |
Nonregulated | BHE Transmission | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 30 | 16 | 100 | 38 |
Nonregulated | BHE Renewables | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 457 | 440 | 1,138 | 1,156 |
Nonregulated | BHE and Other | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ (2) | $ 1 | $ (1) | $ 0 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - BHE - Real Estate Services (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Real estate | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,212 | 1,405 | 3,383 | 4,284 |
HomeServices | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,212 | 1,405 | 3,383 | 4,284 |
HomeServices | Real estate | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,141 | 1,328 | 3,169 | 4,001 |
Other revenue | 71 | 77 | 214 | 283 |
Operating revenue | 1,212 | 1,405 | 3,383 | 4,284 |
HomeServices | Brokerage | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,125 | 1,310 | 3,126 | 3,946 |
HomeServices | Franchise | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 16 | $ 18 | $ 43 | $ 55 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - BHE - Remaining Performance Obligation Total (Details) $ in Millions | Sep. 30, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 23,414 |
BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 23,250 |
BHE Transmission | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 164 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,136 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 2,972 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | BHE Transmission | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 164 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,278 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,278 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | BHE Transmission | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 0 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period |
Revenue from Contracts with C_6
Revenue from Contracts with Customers - PAC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,763 | 3,513 | 9,295 | 8,360 |
Regulated | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 141 | 310 | 421 | 733 |
Regulated | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 493 | 522 | 1,485 | 1,553 |
Regulated | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 39 | 24 | 96 | 74 |
PAC | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 11 | 23 | 26 | 47 |
Operating revenue | 1,676 | 1,635 | 4,487 | 4,246 |
PAC | Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,665 | 1,612 | 4,461 | 4,199 |
PAC | Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,543 | 1,465 | 4,124 | 3,817 |
PAC | Regulated | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 47 | 69 | 134 | 179 |
PAC | Regulated | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 44 | 54 | 116 | 131 |
PAC | Regulated | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 31 | 24 | 87 | 72 |
PAC | Regulated | Residential | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 601 | 576 | 1,636 | 1,498 |
PAC | Regulated | Commercial | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 513 | 461 | 1,372 | 1,224 |
PAC | Regulated | Industrial | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 310 | 310 | 870 | 860 |
PAC | Regulated | Other retail | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 119 | $ 118 | $ 246 | $ 235 |
Revenue from Contracts with C_7
Revenue from Contracts with Customers - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 948 | 1,121 | 2,577 | 2,970 |
Other revenue | 16 | 27 | 66 | 80 |
Operating revenue | 964 | 1,148 | 2,643 | 3,050 |
MEC | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 6 | 3 | |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,763 | 3,513 | 9,295 | 8,360 |
Regulated | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 105 | 118 | 630 | 670 |
Regulated | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 141 | 310 | 421 | 733 |
Regulated | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 39 | 24 | 96 | 74 |
Regulated | MEC | Retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 850 | 896 | 2,296 | 2,435 |
Regulated | MEC | Retail | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 302 | 325 | 899 | 990 |
Regulated | MEC | Retail | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 125 | 137 | 381 | 421 |
Regulated | MEC | Retail | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 363 | 373 | 860 | 866 |
Regulated | MEC | Retail | Natural gas transportation services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 11 | 8 | 34 | 31 |
Regulated | MEC | Retail | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 49 | 53 | 122 | 127 |
Regulated | MEC | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 81 | 208 | 233 | 488 |
Regulated | MEC | Multi-value transmission projects | Multi-value transmission projects | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 15 | 16 | 42 | 44 |
Nonregulated | MEC | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | |||
Regulated electric | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 869 | 1,009 | 2,121 | 2,342 |
Regulated electric | Regulated | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 854 | 982 | 2,057 | 2,264 |
Other revenue | 15 | 27 | 64 | 78 |
Operating revenue | 869 | 1,009 | 2,121 | 2,342 |
Regulated electric | Regulated | MEC | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 773 | 799 | 1,833 | 1,865 |
Regulated electric | Regulated | MEC | Retail electric | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 254 | 267 | 594 | 620 |
Regulated electric | Regulated | MEC | Retail electric | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 111 | 117 | 272 | 282 |
Regulated electric | Regulated | MEC | Retail electric | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 360 | 364 | 846 | 839 |
Regulated electric | Regulated | MEC | Retail electric | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 48 | 51 | 121 | 124 |
Regulated electric | Regulated | MEC | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 66 | 167 | 182 | 355 |
Regulated electric | Regulated | MEC | Multi-value transmission projects | Multi-value transmission projects | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 15 | 16 | 42 | 44 |
Regulated natural gas | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 93 | 138 | 516 | 705 |
Regulated natural gas | Regulated | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 92 | 138 | 514 | 703 |
Other revenue | 1 | 0 | 2 | 2 |
Operating revenue | 93 | 138 | 516 | 705 |
Regulated natural gas | Regulated | MEC | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 77 | 97 | 463 | 570 |
Regulated natural gas | Regulated | MEC | Retail gas | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 48 | 58 | 305 | 370 |
Regulated natural gas | Regulated | MEC | Retail gas | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 14 | 20 | 109 | 139 |
Regulated natural gas | Regulated | MEC | Retail gas | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3 | 9 | 14 | 27 |
Regulated natural gas | Regulated | MEC | Retail gas | Natural gas transportation services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 11 | 8 | 34 | 31 |
Regulated natural gas | Regulated | MEC | Retail gas | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 2 | 1 | 3 |
Regulated natural gas | Regulated | MEC | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 15 | 41 | 51 | 133 |
Other | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 2 | 1 | 6 | 3 |
Other | Nonregulated | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 1 | 6 | 3 |
Other revenue | 0 | 0 | 0 | 0 |
Operating revenue | 2 | 1 | 6 | 3 |
Other | Nonregulated | MEC | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 2 | $ 1 | $ 6 | $ 3 |
Revenue from Contracts with C_8
Revenue from Contracts with Customers - NPC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,763 | 3,513 | 9,295 | 8,360 |
NPC | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 5 | 6 | 14 | 16 |
Operating revenue | 1,145 | 1,003 | 2,525 | 2,057 |
NPC | Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,140 | 997 | 2,511 | 2,041 |
NPC | Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,122 | 966 | 2,460 | 1,975 |
NPC | Regulated | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 18 | 31 | 51 | 66 |
NPC | Customer Revenue | Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,119 | 961 | 2,450 | 1,960 |
NPC | Customer Revenue | Regulated | Retail electric | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 668 | 582 | 1,365 | 1,149 |
NPC | Customer Revenue | Regulated | Retail electric | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 199 | 172 | 512 | 398 |
NPC | Customer Revenue | Regulated | Retail electric | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 246 | 202 | 557 | 404 |
NPC | Customer Revenue | Regulated | Retail electric | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 6 | 5 | 16 | 9 |
NPC | Distribution only service | Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 3 | $ 5 | $ 10 | $ 15 |
Revenue from Contracts with C_9
Revenue from Contracts with Customers - SPPC (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,763 | 3,513 | 9,295 | 8,360 |
Regulated | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 105 | 118 | 630 | 670 |
SPPC | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 0 | 1 | 1 | 3 |
Operating revenue | 372 | 330 | 1,109 | 867 |
SPPC | Regulated electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 0 | 1 | 0 | 2 |
Operating revenue | 345 | 310 | 942 | 767 |
SPPC | Regulated natural gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 0 | 0 | 1 | 1 |
Operating revenue | 27 | 20 | 167 | 100 |
SPPC | Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 372 | 329 | 1,108 | 864 |
SPPC | Regulated | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 20 | 26 | 64 | 61 |
SPPC | Regulated | Regulated electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 345 | 309 | 942 | 765 |
SPPC | Regulated | Regulated electric | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 20 | 26 | 64 | 61 |
SPPC | Regulated | Regulated natural gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 27 | 20 | 166 | 99 |
SPPC | Regulated | Regulated natural gas | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
SPPC | Regulated | Total retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 352 | 303 | 1,044 | 803 |
SPPC | Regulated | Total retail | Regulated electric | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 325 | 283 | 878 | 704 |
SPPC | Regulated | Total retail | Regulated natural gas | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 27 | 20 | 166 | 99 |
SPPC | Regulated | Customer Revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 350 | 302 | 1,040 | 799 |
SPPC | Regulated | Customer Revenue | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 131 | 120 | 426 | 334 |
SPPC | Regulated | Customer Revenue | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 117 | 105 | 349 | 277 |
SPPC | Regulated | Customer Revenue | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 101 | 75 | 261 | 184 |
SPPC | Regulated | Customer Revenue | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 2 | 4 | 4 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 323 | 282 | 874 | 700 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 116 | 107 | 326 | 270 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 111 | 100 | 304 | 251 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 96 | 73 | 241 | 175 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 2 | 3 | 4 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 27 | 20 | 166 | 99 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 15 | 13 | 100 | 64 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 6 | 5 | 45 | 26 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 5 | 2 | 20 | 9 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 0 | 1 | 0 |
SPPC | Regulated | Distribution only service | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 1 | 4 | 4 |
SPPC | Regulated | Distribution only service | Regulated electric | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 1 | 4 | 4 |
SPPC | Regulated | Distribution only service | Regulated natural gas | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Revenue from Contracts with _10
Revenue from Contracts with Customers - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Revenue from External Customer [Line Items] | |||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 | |
EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 476 | 551 | 1,546 | 1,541 | |
Other revenue | (1) | (4) | 3 | (8) | |
Operating revenue | 475 | 547 | 1,549 | 1,533 | |
Contract liability | 28 | 28 | $ 80 | ||
Contract liability, revenue recognized | 51 | ||||
Regulated | EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 289 | 297 | 916 | 868 | |
Nonregulated | EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 187 | 254 | 630 | 673 | |
Gas transmission and storage | Regulated | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 105 | 118 | 630 | 670 | |
Gas transmission and storage | Regulated | EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 281 | 296 | 907 | 867 | |
Other | Regulated | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 39 | 24 | 96 | 74 | |
Other | Regulated | EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | $ 8 | $ 1 | $ 9 | $ 1 |
Revenue from Contracts with _11
Revenue from Contracts with Customers - EEGH - Remaining Performance Obligation (Details) $ in Millions | Sep. 30, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 23,414 |
EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 16,401 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,136 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 1,657 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,278 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 14,744 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period |
Revenue from Contracts with _12
Revenue from Contracts with Customers - EGTS (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue from External Customer [Line Items] | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 |
EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 233 | 244 | 744 | 707 |
Other revenue | 0 | (4) | 3 | (10) |
Operating revenue | 233 | 240 | 747 | 697 |
Regulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 219 | 225 | 698 | 651 |
Nonregulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 14 | 19 | 46 | 56 |
Gas transmission | Regulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 144 | 151 | 486 | 461 |
Gas storage | Regulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 69 | 74 | 206 | 190 |
Other | Regulated | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 39 | 24 | 96 | 74 |
Other | Regulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | $ 6 | $ 0 | $ 6 | $ 0 |
Revenue from Contracts with _13
Revenue from Contracts with Customers - EGTS - Remaining Performance Obligation (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Performance obligations expected to be satisfied | $ 23,414 | $ 23,414 | ||
Operating revenue | 7,170 | $ 7,500 | 19,745 | $ 20,142 |
Other | Regulated | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Total Customer Revenue | 39 | 24 | 96 | 74 |
EGTS | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Performance obligations expected to be satisfied | 3,935 | 3,935 | ||
Total Customer Revenue | 233 | 244 | 744 | 707 |
Other revenue | 0 | (4) | 3 | (10) |
Operating revenue | 233 | 240 | 747 | 697 |
EGTS | Regulated | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Total Customer Revenue | 219 | 225 | 698 | 651 |
EGTS | Nonregulated | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Total Customer Revenue | 14 | 19 | 46 | 56 |
EGTS | Gas transmission | Regulated | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Total Customer Revenue | 144 | 151 | 486 | 461 |
EGTS | Gas storage | Regulated | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Total Customer Revenue | 69 | 74 | 206 | 190 |
EGTS | Other | Regulated | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Total Customer Revenue | 6 | $ 0 | 6 | $ 0 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Performance obligations expected to be satisfied | $ 3,136 | $ 3,136 | ||
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months | 12 months | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | EGTS | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Performance obligations expected to be satisfied | $ 764 | $ 764 | ||
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months | 12 months | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Performance obligations expected to be satisfied | $ 20,278 | $ 20,278 | ||
Performance obligations expected to be satisfied, expected timing of satisfaction, period | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | EGTS | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Performance obligations expected to be satisfied | $ 3,171 | $ 3,171 | ||
Performance obligations expected to be satisfied, expected timing of satisfaction, period |
Shareholder's Equity - MEC (Det
Shareholder's Equity - MEC (Details) - USD ($) $ in Millions | 1 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Jan. 31, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | |
MEC | ||||
Class of Stock [Line Items] | ||||
Dividends paid | $ 900 | $ 100 | $ 1,000 | $ 50 |
Member's Equity - MidAmerican F
Member's Equity - MidAmerican Funding (Details) - USD ($) $ in Millions | 1 Months Ended | |
Sep. 30, 2023 | Jan. 31, 2023 | |
MidAmerican Funding, LLC | ||
Class of Stock [Line Items] | ||
Distribution paid to parent | $ 892 | $ 100 |
Components of Accumulated Oth_3
Components of Accumulated Other Comprehensive Loss, Net - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | $ 52,960 | $ 51,191 | $ 50,639 | $ 50,589 |
Other comprehensive income (loss) | (299) | (595) | 5 | (1,043) |
Purchase of noncontrolling interest | (3,180) | (3,180) | ||
Balance | 49,955 | 49,745 | 49,955 | 49,745 |
Accumulated Other Comprehensive (Loss) Income, Net | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | (1,845) | (1,788) | (2,149) | (1,340) |
Other comprehensive income (loss) | (299) | (595) | 5 | (1,043) |
Purchase of noncontrolling interest | (1) | (1) | ||
Balance | (2,145) | (2,383) | (2,145) | (2,383) |
Unrecognized Amounts on Retirement Benefits | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | (390) | (318) | ||
Other comprehensive income (loss) | 10 | 65 | ||
Purchase of noncontrolling interest | 0 | |||
Balance | (380) | (253) | (380) | (253) |
Foreign Currency Translation Adjustment | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | (1,896) | (1,086) | ||
Other comprehensive income (loss) | 18 | (1,256) | ||
Purchase of noncontrolling interest | 0 | |||
Balance | (1,878) | (2,342) | (1,878) | (2,342) |
Unrealized Losses on Cash Flow Hedges | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | 135 | 59 | ||
Other comprehensive income (loss) | (23) | 148 | ||
Purchase of noncontrolling interest | 0 | |||
Balance | 112 | 207 | 112 | 207 |
Noncontrolling Interest | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | 2 | 5 | ||
Other comprehensive income (loss) | 0 | 0 | ||
Purchase of noncontrolling interest | (1) | |||
Balance | $ 1 | $ 5 | $ 1 | $ 5 |
Components of Accumulated Oth_4
Components of Accumulated Other Comprehensive Loss, Net - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | $ 52,960 | $ 51,191 | $ 50,639 | $ 50,589 |
Other comprehensive income (loss) | (299) | (595) | 5 | (1,043) |
Purchase of noncontrolling interest | (3,180) | (3,180) | ||
Balance | 49,955 | 49,745 | 49,955 | 49,745 |
EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | 8,044 | 7,717 | 7,888 | 7,494 |
Other comprehensive income (loss) | 0 | 1 | 4 | 5 |
Purchase of noncontrolling interest | (3,180) | (3,180) | ||
Balance | 7,679 | 7,876 | 7,679 | 7,876 |
Accumulated Other Comprehensive (Loss) Income, Net | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (1,845) | (1,788) | (2,149) | (1,340) |
Other comprehensive income (loss) | (299) | (595) | 5 | (1,043) |
Purchase of noncontrolling interest | (1) | (1) | ||
Balance | (2,145) | (2,383) | (2,145) | (2,383) |
Accumulated Other Comprehensive (Loss) Income, Net | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (38) | (39) | (42) | (43) |
Other comprehensive income (loss) | 1 | 4 | 5 | |
Purchase of noncontrolling interest | (1) | (1) | ||
Balance | (39) | (38) | (39) | (38) |
Unrecognized Amounts on Retirement Benefits | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (390) | (318) | ||
Other comprehensive income (loss) | 10 | 65 | ||
Purchase of noncontrolling interest | 0 | |||
Balance | (380) | (253) | (380) | (253) |
Unrecognized Amounts on Retirement Benefits | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (1) | (6) | ||
Other comprehensive income (loss) | (2) | 1 | ||
Purchase of noncontrolling interest | 0 | |||
Balance | (3) | (5) | (3) | (5) |
Unrealized Losses on Cash Flow Hedges | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | 135 | 59 | ||
Other comprehensive income (loss) | (23) | 148 | ||
Purchase of noncontrolling interest | 0 | |||
Balance | 112 | 207 | 112 | 207 |
Unrealized Losses on Cash Flow Hedges | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (43) | (42) | ||
Other comprehensive income (loss) | 6 | 4 | ||
Purchase of noncontrolling interest | 0 | |||
Balance | (37) | (38) | (37) | (38) |
Noncontrolling Interest | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | 2 | 5 | ||
Other comprehensive income (loss) | 0 | 0 | ||
Purchase of noncontrolling interest | (1) | |||
Balance | 1 | 5 | 1 | 5 |
Noncontrolling Interest | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (2) | (5) | ||
Other comprehensive income (loss) | 0 | 0 | ||
Purchase of noncontrolling interest | (1) | |||
Balance | $ (1) | $ (5) | $ (1) | $ (5) |
Segment Information - BHE (Deta
Segment Information - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Segment Reporting Information [Line Items] | |||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 | |
Depreciation and amortization | 1,027 | 1,116 | 3,072 | 3,197 | |
Operating income (loss) | 314 | 1,823 | 2,027 | 4,266 | |
Interest expense | 603 | 555 | 1,788 | 1,637 | |
Capitalized interest | 36 | 19 | 93 | 54 | |
Allowance for equity funds | 76 | 43 | 186 | 123 | |
Interest and dividend income | 110 | 40 | 323 | 93 | |
(Losses) gains on marketable securities, net | (76) | (3,270) | 926 | (1,999) | |
Other, net | (3) | 5 | 115 | (16) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 | |
Total earnings (loss) on common shares | 486 | (850) | 2,533 | 1,889 | |
Assets | 136,082 | 136,082 | $ 133,840 | ||
PAC | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1,676 | 1,635 | 4,487 | 4,246 | |
Depreciation and amortization | 285 | 277 | 843 | 836 | |
Operating income (loss) | (943) | 437 | (979) | 811 | |
Interest expense | 140 | 105 | 398 | 318 | |
Total earnings (loss) on common shares | (652) | 409 | (665) | 622 | |
Assets | 32,515 | 32,515 | 30,559 | ||
MidAmerican Funding | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 964 | 1,148 | 2,643 | 3,050 | |
Depreciation and amortization | 210 | 338 | 670 | 865 | |
Operating income (loss) | 289 | 230 | 495 | 420 | |
Interest expense | 89 | 84 | 258 | 249 | |
Total earnings (loss) on common shares | 321 | 300 | 803 | 745 | |
Assets | 26,907 | 26,907 | 26,077 | ||
NV Energy | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1,518 | 1,334 | 3,636 | 2,926 | |
Depreciation and amortization | 155 | 144 | 460 | 423 | |
Operating income (loss) | 328 | 332 | 502 | 534 | |
Interest expense | 65 | 55 | 192 | 158 | |
Total earnings (loss) on common shares | 278 | 270 | 402 | 392 | |
Assets | 17,817 | 17,817 | 16,676 | ||
Northern Powergrid | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 314 | 359 | 975 | 1,019 | |
Depreciation and amortization | 97 | 92 | 267 | 272 | |
Operating income (loss) | 102 | 151 | 369 | 420 | |
Interest expense | 26 | 31 | 86 | 97 | |
Total earnings (loss) on common shares | 66 | 100 | 173 | 282 | |
Assets | 9,223 | 9,223 | 9,005 | ||
BHE Pipeline Group | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 804 | 964 | 2,795 | 2,855 | |
Depreciation and amortization | 136 | 124 | 403 | 380 | |
Operating income (loss) | 290 | 433 | 1,242 | 1,323 | |
Interest expense | 39 | 37 | 117 | 110 | |
Total earnings (loss) on common shares | 175 | 234 | 731 | 755 | |
Assets | 21,435 | 21,435 | 21,005 | ||
BHE Transmission | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 196 | 177 | 593 | 543 | |
Depreciation and amortization | 64 | 58 | 190 | 176 | |
Operating income (loss) | 80 | 81 | 244 | 248 | |
Interest expense | 37 | 39 | 112 | 115 | |
Total earnings (loss) on common shares | 59 | 59 | 181 | 183 | |
Assets | 9,390 | 9,390 | 9,334 | ||
BHE Renewables | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 519 | 506 | 1,349 | 1,320 | |
Depreciation and amortization | 67 | 68 | 200 | 199 | |
Operating income (loss) | 155 | 138 | 175 | 347 | |
Interest expense | 36 | 46 | 124 | 133 | |
Total earnings (loss) on common shares | 160 | 176 | 445 | 585 | |
Assets | 11,321 | 11,321 | 12,632 | ||
HomeServices | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1,212 | 1,405 | 3,383 | 4,284 | |
Depreciation and amortization | 12 | 14 | 37 | 43 | |
Operating income (loss) | 31 | 53 | 32 | 198 | |
Interest expense | 3 | 2 | 11 | 5 | |
Total earnings (loss) on common shares | 25 | 29 | 25 | 134 | |
Assets | 3,597 | 3,597 | 3,436 | ||
BHE and Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | (33) | (28) | (116) | (101) | |
Depreciation and amortization | 1 | 1 | 2 | 3 | |
Operating income (loss) | (18) | (32) | (53) | (35) | |
Interest expense | 168 | 156 | 490 | 452 | |
Total earnings (loss) on common shares | 54 | (2,427) | 438 | (1,809) | |
Assets | 3,877 | 3,877 | $ 5,116 | ||
U.S. | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 6,677 | 6,967 | 18,241 | 18,588 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | (271) | (2,068) | 1,462 | 395 | |
United Kingdom | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 308 | 351 | 936 | 1,011 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 68 | 118 | 274 | 344 | |
Canada | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 179 | 174 | 529 | 535 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 48 | 43 | 135 | 135 | |
Australia | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 6 | 8 | 39 | 8 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 11 | 11 | 13 | 12 | |
Other | |||||
Segment Reporting Information [Line Items] | |||||
Income (loss) before income tax expense (benefit) and equity income (loss) | $ (2) | $ 1 | $ (2) | $ (2) |
Segment Information - BHE - Goo
Segment Information - BHE - Goodwill (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Goodwill [Roll Forward] | |
Beginning balance | $ 11,489 |
Acquisitions | 1 |
Foreign currency translation | (1) |
Other | (7) |
Ending balance | 11,482 |
PAC | |
Goodwill [Roll Forward] | |
Beginning balance | 1,129 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 1,129 |
MidAmerican Funding | |
Goodwill [Roll Forward] | |
Beginning balance | 2,102 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 2,102 |
NV Energy | |
Goodwill [Roll Forward] | |
Beginning balance | 2,369 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 2,369 |
Northern Powergrid | |
Goodwill [Roll Forward] | |
Beginning balance | 917 |
Acquisitions | 0 |
Foreign currency translation | 5 |
Other | 0 |
Ending balance | 922 |
BHE Pipeline Group | |
Goodwill [Roll Forward] | |
Beginning balance | 1,814 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 1,814 |
BHE Transmission | |
Goodwill [Roll Forward] | |
Beginning balance | 1,461 |
Acquisitions | 0 |
Foreign currency translation | (6) |
Other | 0 |
Ending balance | 1,455 |
BHE Renewables | |
Goodwill [Roll Forward] | |
Beginning balance | 95 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 95 |
HomeServices | |
Goodwill [Roll Forward] | |
Beginning balance | 1,602 |
Acquisitions | 1 |
Foreign currency translation | 0 |
Other | (7) |
Ending balance | $ 1,596 |
Segment Information - MEC (Deta
Segment Information - MEC (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) operatingSegment reportableSegment | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | operatingSegment | 8 | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 | |
Operating income (loss) | 314 | 1,823 | 2,027 | 4,266 | |
Interest expense | (603) | (555) | (1,788) | (1,637) | |
Allowance for equity funds | 76 | 43 | 186 | 123 | |
Other, net | (3) | 5 | 115 | (16) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 | |
Assets | 136,082 | $ 136,082 | $ 133,840 | ||
MEC | |||||
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | reportableSegment | 2 | ||||
Operating revenue | 964 | 1,148 | $ 2,643 | 3,050 | |
Operating income (loss) | 289 | 230 | 495 | 420 | |
Interest expense | (85) | (79) | (246) | (235) | |
Allowance for borrowed funds | 6 | 3 | 14 | 12 | |
Allowance for equity funds | 16 | 12 | 40 | 41 | |
Other, net | 6 | 4 | 37 | (11) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 232 | 170 | 340 | 227 | |
Assets | 24,812 | 24,812 | 23,978 | ||
MEC | Regulated electric | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 869 | 1,009 | 2,121 | 2,342 | |
Operating income (loss) | 295 | 245 | 465 | 383 | |
Assets | 22,993 | 22,993 | 22,092 | ||
MEC | Regulated natural gas | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 93 | 138 | 516 | 705 | |
Operating income (loss) | (6) | (15) | 30 | 37 | |
Assets | 1,818 | 1,818 | 1,885 | ||
MEC | Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 2 | $ 1 | 6 | $ 3 | |
Assets | $ 1 | $ 1 | $ 1 |
Segment Information - LLC (Deta
Segment Information - LLC (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) reportableSegment operatingSegment | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | operatingSegment | 8 | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 | |
Operating income (loss) | 314 | 1,823 | 2,027 | 4,266 | |
Interest expense | (603) | (555) | (1,788) | (1,637) | |
Allowance for equity funds | 76 | 43 | 186 | 123 | |
Other, net | (3) | 5 | 115 | (16) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 | |
Assets | 136,082 | $ 136,082 | $ 133,840 | ||
MidAmerican Funding, LLC | |||||
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | reportableSegment | 2 | ||||
Operating revenue | 964 | 1,148 | $ 2,643 | 3,050 | |
Operating income (loss) | 289 | 230 | 495 | 420 | |
Interest expense | (89) | (84) | (258) | (249) | |
Allowance for borrowed funds | 6 | 3 | 14 | 12 | |
Allowance for equity funds | 16 | 12 | 40 | 41 | |
Other, net | 6 | 2 | 49 | (12) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 228 | 163 | 340 | 212 | |
Assets | 26,094 | 26,094 | 25,254 | ||
MidAmerican Funding, LLC | Regulated electric | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 869 | 1,009 | 2,121 | 2,342 | |
Operating income (loss) | 295 | 245 | 465 | 383 | |
Assets | 24,184 | 24,184 | 23,283 | ||
MidAmerican Funding, LLC | Regulated natural gas | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 93 | 138 | 516 | 705 | |
Operating income (loss) | (6) | (15) | 30 | 37 | |
Assets | 1,897 | 1,897 | 1,963 | ||
MidAmerican Funding, LLC | Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 2 | $ 1 | 6 | $ 3 | |
Assets | $ 13 | $ 13 | $ 8 |
Segment Information - SPPC (Det
Segment Information - SPPC (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) operatingSegment reportableSegment | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | operatingSegment | 8 | ||||
Operating revenue | $ 7,170 | $ 7,500 | $ 19,745 | $ 20,142 | |
Operating income (loss) | 314 | 1,823 | 2,027 | 4,266 | |
Interest expense | (603) | (555) | (1,788) | (1,637) | |
Allowance for equity funds | 76 | 43 | 186 | 123 | |
Interest and dividend income | 110 | 40 | 323 | 93 | |
Other, net | (3) | 5 | 115 | (16) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | (146) | (1,895) | 1,882 | 884 | |
Assets | 136,082 | $ 136,082 | $ 133,840 | ||
SPPC | |||||
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | reportableSegment | 2 | ||||
Operating revenue | 372 | 330 | $ 1,109 | 867 | |
Operating income (loss) | 78 | 74 | 139 | 135 | |
Interest expense | (16) | (15) | (47) | (42) | |
Capitalized interest | 0 | 1 | 5 | 2 | |
Allowance for equity funds | 5 | 1 | 10 | 5 | |
Interest and dividend income | 6 | 5 | 18 | 12 | |
Other, net | 1 | 1 | 3 | 3 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 74 | 67 | 128 | 115 | |
Assets | 4,765 | 4,765 | 4,732 | ||
SPPC | Regulated electric | |||||
Segment Reporting Information [Line Items] | |||||
Regulated electric | 345 | 310 | 942 | 767 | |
Operating revenue | 345 | 310 | 942 | 767 | |
Operating income (loss) | 78 | 74 | 126 | 123 | |
Assets | 4,238 | 4,238 | 4,224 | ||
SPPC | Regulated natural gas | |||||
Segment Reporting Information [Line Items] | |||||
Regulated natural gas | 27 | 20 | 167 | 100 | |
Operating revenue | 27 | 20 | 167 | 100 | |
Operating income (loss) | 0 | $ 0 | 13 | $ 12 | |
Assets | 451 | 451 | 441 | ||
SPPC | Other | |||||
Segment Reporting Information [Line Items] | |||||
Assets | $ 76 | $ 76 | $ 67 |