Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2023 | May 04, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 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 | Q1 | |
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 | 6603 West Broad Street | |
Entity Address, City or Town | Richmond | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23230 | |
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 | 6603 West Broad Street | |
Entity Address, City or Town | Richmond | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23230 | |
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 | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 963 | $ 1,591 |
Investments and restricted cash and cash equivalents | 3,032 | 2,141 |
Trade receivables, net | 2,567 | 2,876 |
Inventories | 1,299 | 1,256 |
Mortgage loans held for sale | 650 | 474 |
Regulatory assets | 1,612 | 1,319 |
Other current assets | 1,202 | 1,345 |
Total current assets | 11,325 | 11,002 |
Property, plant and equipment, net | 93,583 | 93,043 |
Goodwill | 11,503 | 11,489 |
Regulatory assets | 3,945 | 3,743 |
Investments and restricted cash and cash equivalents and investments | 10,825 | 11,273 |
Other assets | 3,273 | 3,290 |
Total assets | 134,454 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,109 | 2,679 |
Accrued interest | 701 | 558 |
Accrued property, income and other taxes | 625 | 746 |
Accrued employee expenses | 351 | 333 |
Short-term debt | 1,819 | 1,119 |
Current portion of long-term debt | 3,090 | 3,201 |
Other current liabilities | 1,720 | 1,677 |
Total current liabilities | 10,415 | 10,313 |
BHE senior debt | 13,097 | 13,096 |
BHE junior subordinated debentures | 100 | 100 |
Subsidiary debt | 34,863 | 35,238 |
Regulatory liabilities | 6,578 | 7,070 |
Deferred income taxes | 12,705 | 12,678 |
Other long-term liabilities | 5,045 | 4,706 |
Total liabilities | 82,803 | 83,201 |
Commitments and contingencies | ||
BHE shareholders' equity: | ||
Preferred stock | 850 | 850 |
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,298 |
Retained earnings | 42,814 | 41,833 |
Accumulated other comprehensive loss, net | (2,109) | (2,149) |
Total shareholder's equity, parent | 47,853 | 46,832 |
Noncontrolling interests | 3,798 | 3,807 |
Total equity | 51,651 | 50,639 |
Total liabilities and equity | $ 134,454 | $ 133,840 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions | Mar. 31, 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 | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 76 | 76 |
Common stock, shares outstanding | 76 | 76 |
Consolidated Balance Sheets (_3
Consolidated Balance Sheets (Unaudited) - PAC - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 963 | $ 1,591 |
Inventories | 1,299 | 1,256 |
Regulatory assets | 1,612 | 1,319 |
Other current assets | 1,202 | 1,345 |
Total current assets | 11,325 | 11,002 |
Regulatory assets | 3,945 | 3,743 |
Other assets | 3,273 | 3,290 |
Total assets | 134,454 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,109 | 2,679 |
Accrued interest | 701 | 558 |
Accrued property, income and other taxes | 625 | 746 |
Accrued employee expenses | 351 | 333 |
Current portion of long-term debt | 3,090 | 3,201 |
Other current liabilities | 1,720 | 1,677 |
Total current liabilities | 10,415 | 10,313 |
Regulatory liabilities | 6,578 | 7,070 |
Deferred income taxes | 12,705 | 12,678 |
Other long-term liabilities | 5,045 | 4,706 |
Total liabilities | 82,803 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 850 | 850 |
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,298 |
Retained earnings | 42,814 | 41,833 |
Accumulated other comprehensive loss, net | (2,109) | (2,149) |
Total shareholder's equity, parent | 47,853 | 46,832 |
Total liabilities and equity | 134,454 | 133,840 |
PAC | ||
Current assets: | ||
Cash and cash equivalents | 19 | 641 |
Trade receivables, net | 780 | 825 |
Other receivables | 112 | 72 |
Inventories | 491 | 474 |
Derivative contracts | 114 | 184 |
Regulatory assets | 302 | 275 |
Other current assets | 215 | 213 |
Total current assets | 2,033 | 2,684 |
Property, plant and equipment, net | 24,695 | 24,430 |
Regulatory assets | 1,684 | 1,605 |
Other assets | 707 | 686 |
Total assets | 29,119 | 29,405 |
Current liabilities: | ||
Accounts payable | 900 | 1,049 |
Accrued interest | 143 | 128 |
Accrued property, income and other taxes | 92 | 67 |
Accrued employee expenses | 97 | 86 |
Current portion of long-term debt | 440 | 449 |
Regulatory liabilities | 97 | 96 |
Other current liabilities | 389 | 271 |
Total current liabilities | 2,158 | 2,146 |
Long-term debt | 9,218 | 9,217 |
Regulatory liabilities | 2,690 | 2,843 |
Deferred income taxes | 3,097 | 3,152 |
Other long-term liabilities | 1,635 | 1,306 |
Total liabilities | 18,798 | 18,664 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 2 | 2 |
Common stock | 0 | 0 |
Additional paid-in capital | 4,479 | 4,479 |
Retained earnings | 5,849 | 6,269 |
Accumulated other comprehensive loss, net | (9) | (9) |
Total shareholder's equity, parent | 10,321 | 10,741 |
Total liabilities and equity | $ 29,119 | $ 29,405 |
Consolidated Balance Sheets (_4
Consolidated Balance Sheets (Unaudited) - PAC (Parenthetical) - $ / shares shares in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Common stock, shares authorized | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 76 | 76 |
Common stock, shares outstanding | 76 | 76 |
PAC | ||
Common stock, shares authorized | 750 | 750 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 357 | 357 |
Common stock, shares outstanding | 357 | 357 |
Balance Sheets (Unaudited) - ME
Balance Sheets (Unaudited) - MEC - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 963 | $ 1,591 |
Inventories | 1,299 | 1,256 |
Other current assets | 1,202 | 1,345 |
Total current assets | 11,325 | 11,002 |
Regulatory assets | 3,945 | 3,743 |
Investments and restricted cash and cash equivalents and investments | 10,825 | 11,273 |
Other assets | 3,273 | 3,290 |
Total assets | 134,454 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,109 | 2,679 |
Accrued interest | 701 | 558 |
Accrued property, income and other taxes | 625 | 746 |
Current portion of long-term debt | 3,090 | 3,201 |
Other current liabilities | 1,720 | 1,677 |
Total current liabilities | 10,415 | 10,313 |
Regulatory liabilities | 6,578 | 7,070 |
Deferred income taxes | 12,705 | 12,678 |
Other long-term liabilities | 5,045 | 4,706 |
Total liabilities | 82,803 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,298 |
Retained earnings | 42,814 | 41,833 |
Total shareholder's equity, parent | 47,853 | 46,832 |
Total liabilities and equity | 134,454 | 133,840 |
MEC | ||
Current assets: | ||
Cash and cash equivalents | 57 | 258 |
Trade receivables, net | 387 | 536 |
Income tax receivable | 275 | 42 |
Inventories | 280 | 277 |
Prepayments | 123 | 91 |
Other current assets | 36 | 66 |
Total current assets | 1,158 | 1,270 |
Property, plant and equipment, net | 20,981 | 21,091 |
Regulatory assets | 571 | 550 |
Investments and restricted cash and cash equivalents and investments | 942 | 902 |
Other assets | 155 | 165 |
Total assets | 23,807 | 23,978 |
Current liabilities: | ||
Accounts payable | 395 | 536 |
Accrued interest | 88 | 85 |
Accrued property, income and other taxes | 142 | 170 |
Current portion of long-term debt | 310 | 317 |
Other current liabilities | 106 | 93 |
Total current liabilities | 1,041 | 1,201 |
Long-term debt | 7,412 | 7,412 |
Regulatory liabilities | 836 | 1,119 |
Deferred income taxes | 3,452 | 3,433 |
Asset retirement obligations | 778 | 683 |
Other long-term liabilities | 500 | 485 |
Total liabilities | 14,019 | 14,333 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 561 | 561 |
Retained earnings | 9,227 | 9,084 |
Total shareholder's equity, parent | 9,788 | 9,645 |
Total liabilities and equity | $ 23,807 | $ 23,978 |
Balance Sheets (Unaudited) - _2
Balance Sheets (Unaudited) - MEC (Parenthetical) - $ / shares shares in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Common stock, shares authorized | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 76 | 76 |
Common stock, shares outstanding | 76 | 76 |
MEC | ||
Common stock, shares authorized | 350 | 350 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 71 | 71 |
Common stock, shares outstanding | 71 | 71 |
Consolidated Balance Sheets (_5
Consolidated Balance Sheets (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 963 | $ 1,591 |
Inventories | 1,299 | 1,256 |
Other current assets | 1,202 | 1,345 |
Total current assets | 11,325 | 11,002 |
Property, plant and equipment, net | 93,583 | 93,043 |
Goodwill | 11,503 | 11,489 |
Regulatory assets | 3,945 | 3,743 |
Investments and restricted cash and cash equivalents and investments | 10,825 | 11,273 |
Other assets | 3,273 | 3,290 |
Total assets | 134,454 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,109 | 2,679 |
Accrued interest | 701 | 558 |
Accrued property, income and other taxes | 625 | 746 |
Current portion of long-term debt | 3,090 | 3,201 |
Other current liabilities | 1,720 | 1,677 |
Total current liabilities | 10,415 | 10,313 |
Regulatory liabilities | 6,578 | 7,070 |
Deferred income taxes | 12,705 | 12,678 |
Other long-term liabilities | 5,045 | 4,706 |
Total liabilities | 82,803 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 6,298 | 6,298 |
Retained earnings | 42,814 | 41,833 |
Total shareholder's equity, parent | 47,853 | 46,832 |
Total liabilities and equity | 134,454 | 133,840 |
MidAmerican Funding, LLC | ||
Current assets: | ||
Cash and cash equivalents | 58 | 261 |
Trade receivables, net | 387 | 536 |
Income tax receivable | 274 | 43 |
Inventories | 280 | 277 |
Prepayments | 123 | 91 |
Other current assets | 44 | 66 |
Total current assets | 1,166 | 1,274 |
Property, plant and equipment, net | 20,982 | 21,092 |
Goodwill | 1,270 | 1,270 |
Regulatory assets | 571 | 550 |
Investments and restricted cash and cash equivalents and investments | 944 | 904 |
Other assets | 154 | 164 |
Total assets | 25,087 | 25,254 |
Current liabilities: | ||
Accounts payable | 395 | 536 |
Accrued interest | 89 | 90 |
Accrued property, income and other taxes | 142 | 170 |
Current portion of long-term debt | 310 | 317 |
Other current liabilities | 106 | 93 |
Total current liabilities | 1,042 | 1,206 |
Long-term debt | 7,652 | 7,652 |
Regulatory liabilities | 836 | 1,119 |
Deferred income taxes | 3,451 | 3,431 |
Asset retirement obligations | 778 | 683 |
Other long-term liabilities | 500 | 484 |
Total liabilities | 14,259 | 14,575 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 1,679 | 1,679 |
Retained earnings | 9,149 | 9,000 |
Total shareholder's equity, parent | 10,828 | 10,679 |
Total liabilities and equity | $ 25,087 | $ 25,254 |
Consolidated Balance Sheets (_6
Consolidated Balance Sheets (Unaudited) - NPC - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 963 | $ 1,591 |
Inventories | 1,299 | 1,256 |
Regulatory assets | 1,612 | 1,319 |
Other current assets | 1,202 | 1,345 |
Total current assets | 11,325 | 11,002 |
Regulatory assets | 3,945 | 3,743 |
Other assets | 3,273 | 3,290 |
Total assets | 134,454 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,109 | 2,679 |
Accrued interest | 701 | 558 |
Accrued property, income and other taxes | 625 | 746 |
Short-term debt | 1,819 | 1,119 |
Current portion of long-term debt | 3,090 | 3,201 |
Other current liabilities | 1,720 | 1,677 |
Total current liabilities | 10,415 | 10,313 |
Regulatory liabilities | 6,578 | 7,070 |
Deferred income taxes | 12,705 | 12,678 |
Other long-term liabilities | 5,045 | 4,706 |
Total liabilities | 82,803 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,298 |
Retained earnings | 42,814 | 41,833 |
Accumulated other comprehensive loss, net | (2,109) | (2,149) |
Total shareholder's equity, parent | 47,853 | 46,832 |
Total liabilities and equity | 134,454 | 133,840 |
NPC | ||
Current assets: | ||
Cash and cash equivalents | 23 | 43 |
Trade receivables, net | 301 | 388 |
Notes receivable from affiliates | 0 | 100 |
Inventories | 106 | 93 |
Regulatory assets | 983 | 666 |
Other current assets | 83 | 89 |
Total current assets | 1,496 | 1,379 |
Property, plant and equipment, net | 7,649 | 7,406 |
Regulatory assets | 655 | 628 |
Other assets | 390 | 388 |
Total assets | 10,190 | 9,801 |
Current liabilities: | ||
Accounts payable | 334 | 422 |
Accrued interest | 51 | 40 |
Accrued property, income and other taxes | 35 | 32 |
Short-term debt | 33 | 0 |
Current portion of long-term debt | 300 | 0 |
Regulatory liabilities | 45 | 45 |
Customer deposits | 52 | 51 |
Derivative contracts | 90 | 51 |
Other current liabilities | 52 | 49 |
Total current liabilities | 992 | 690 |
Long-term debt | 2,895 | 3,195 |
Finance lease obligations | 290 | 295 |
Regulatory liabilities | 1,059 | 1,093 |
Deferred income taxes | 878 | 875 |
Other long-term liabilities | 318 | 299 |
Total liabilities | 6,432 | 6,447 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 2,733 | 2,333 |
Retained earnings | 1,026 | 1,022 |
Accumulated other comprehensive loss, net | (1) | (1) |
Total shareholder's equity, parent | 3,758 | 3,354 |
Total liabilities and equity | $ 10,190 | $ 9,801 |
Consolidated Balance Sheets (_7
Consolidated Balance Sheets (Unaudited) - NPC (Parenthetical) - $ / shares | Mar. 31, 2023 | Dec. 31, 2022 |
Common stock, shares authorized | 115,000,000 | 115,000,000 |
Common stock, shares issued | 76,000,000 | 76,000,000 |
Common stock, shares outstanding | 76,000,000 | 76,000,000 |
NPC | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 1,000 | 1,000 |
Common stock, shares outstanding | 1,000 | 1,000 |
Consolidated Balance Sheets (_8
Consolidated Balance Sheets (Unaudited) - SPPC - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 963 | $ 1,591 |
Inventories | 1,299 | 1,256 |
Regulatory assets | 1,612 | 1,319 |
Other current assets | 1,202 | 1,345 |
Total current assets | 11,325 | 11,002 |
Regulatory assets | 3,945 | 3,743 |
Other assets | 3,273 | 3,290 |
Total assets | 134,454 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,109 | 2,679 |
Short-term debt | 1,819 | 1,119 |
Current portion of long-term debt | 3,090 | 3,201 |
Other current liabilities | 1,720 | 1,677 |
Total current liabilities | 10,415 | 10,313 |
Regulatory liabilities | 6,578 | 7,070 |
Deferred income taxes | 12,705 | 12,678 |
Other long-term liabilities | 5,045 | 4,706 |
Total liabilities | 82,803 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,298 |
Retained earnings | 42,814 | 41,833 |
Accumulated other comprehensive loss, net | (2,109) | (2,149) |
Total shareholder's equity, parent | 47,853 | 46,832 |
Total liabilities and equity | 134,454 | 133,840 |
SPPC | ||
Current assets: | ||
Cash and cash equivalents | 8 | 49 |
Trade receivables, net | 181 | 175 |
Inventories | 83 | 79 |
Regulatory assets | 310 | 357 |
Other current assets | 34 | 50 |
Total current assets | 616 | 710 |
Property, plant and equipment, net | 3,622 | 3,587 |
Regulatory assets | 261 | 254 |
Other assets | 184 | 181 |
Total assets | 4,683 | 4,732 |
Current liabilities: | ||
Accounts payable | 162 | 224 |
Notes payable | 0 | 70 |
Short-term debt | 50 | 0 |
Current portion of long-term debt | 250 | 250 |
Other current liabilities | 140 | 108 |
Total current liabilities | 602 | 652 |
Long-term debt, carrying value | 898 | 898 |
Finance lease obligations | 98 | 100 |
Regulatory liabilities | 428 | 436 |
Deferred income taxes | 438 | 445 |
Other long-term liabilities | 144 | 153 |
Total liabilities | 2,608 | 2,684 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 1,576 | 1,576 |
Retained earnings | 500 | 473 |
Accumulated other comprehensive loss, net | (1) | (1) |
Total shareholder's equity, parent | 2,075 | 2,048 |
Total liabilities and equity | $ 4,683 | $ 4,732 |
Consolidated Balance Sheets (_9
Consolidated Balance Sheets (Unaudited) - SPPC (Parenthetical) - $ / shares | Mar. 31, 2023 | Dec. 31, 2022 |
Common stock, shares authorized | 115,000,000 | 115,000,000 |
Common stock, shares issued | 76,000,000 | 76,000,000 |
Common stock, shares outstanding | 76,000,000 | 76,000,000 |
SPPC | ||
Common stock, par value (in dollars per share) | $ 3.75 | $ 3.75 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 1,000 | 1,000 |
Common stock, shares outstanding | 1,000 | 1,000 |
Consolidated Balance Sheets _10
Consolidated Balance Sheets (Unaudited) - EEGH - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 963 | $ 1,591 |
Trade receivables, net | 2,567 | 2,876 |
Inventories | 1,299 | 1,256 |
Other current assets | 1,202 | 1,345 |
Total current assets | 11,325 | 11,002 |
Property, plant and equipment, net | 93,583 | 93,043 |
Goodwill | 11,503 | 11,489 |
Investments | 10,825 | 11,273 |
Other assets | 3,273 | 3,290 |
Total assets | 134,454 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,109 | 2,679 |
Accrued interest | 701 | 558 |
Accrued property, income and other taxes | 625 | 746 |
Current portion of long-term debt | 3,090 | 3,201 |
Other current liabilities | 1,720 | 1,677 |
Total current liabilities | 10,415 | 10,313 |
Regulatory liabilities | 6,578 | 7,070 |
Other long-term liabilities | 5,045 | 4,706 |
Total liabilities | 82,803 | 83,201 |
Commitments and contingencies | ||
Member's equity: | ||
Accumulated other comprehensive loss, net | (2,109) | (2,149) |
Total liabilities and equity | 134,454 | 133,840 |
EEGH | ||
Current assets: | ||
Cash and cash equivalents | 103 | 65 |
Trade receivables, net | 177 | 202 |
Receivables from affiliates | 29 | 30 |
Notes receivable from affiliates | 629 | 536 |
Inventories | 130 | 127 |
Prepayments and other deferred charges | 57 | 78 |
Natural gas imbalances | 60 | 193 |
Other current assets | 54 | 72 |
Total current assets | 1,239 | 1,303 |
Property, plant and equipment, net | 10,281 | 10,202 |
Goodwill | 1,286 | 1,286 |
Investments | 285 | 278 |
Other assets | 94 | 95 |
Total assets | 13,185 | 13,164 |
Current liabilities: | ||
Accounts payable | 42 | 86 |
Accounts payable to affiliates | 8 | 10 |
Accrued interest | 54 | 19 |
Accrued property, income and other taxes | 69 | 77 |
Regulatory liabilities | 34 | 126 |
Current portion of long-term debt | 650 | 649 |
Other current liabilities | 144 | 146 |
Total current liabilities | 1,001 | 1,113 |
Long-term debt | 3,247 | 3,243 |
Regulatory liabilities | 592 | 596 |
Other long-term liabilities | 340 | 324 |
Total liabilities | 5,180 | 5,276 |
Commitments and contingencies | ||
Member's equity: | ||
Membership interests | 4,109 | 3,983 |
Accumulated other comprehensive loss, net | (45) | (42) |
Total member's equity | 4,064 | 3,941 |
Noncontrolling interests | 3,941 | 3,947 |
Total equity | 8,005 | 7,888 |
Total liabilities and equity | $ 13,185 | $ 13,164 |
Consolidated Balance Sheets _11
Consolidated Balance Sheets (Unaudited) - EGTS - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 963 | $ 1,591 |
Restricted cash and cash equivalents | 133 | 173 |
Trade receivables, net | 2,567 | 2,876 |
Inventories | 1,299 | 1,256 |
Other current assets | 1,202 | 1,345 |
Total current assets | 11,325 | 11,002 |
Property, plant and equipment, net | 93,583 | 93,043 |
Other assets | 3,273 | 3,290 |
Total assets | 134,454 | 133,840 |
Current liabilities: | ||
Accounts payable | 2,109 | 2,679 |
Accrued interest | 701 | 558 |
Accrued property, income and other taxes | 625 | 746 |
Accrued employee expenses | 351 | 333 |
Other current liabilities | 1,720 | 1,677 |
Total current liabilities | 10,415 | 10,313 |
Regulatory liabilities | 6,578 | 7,070 |
Other long-term liabilities | 5,045 | 4,706 |
Total liabilities | 82,803 | 83,201 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,298 |
Retained earnings | 42,814 | 41,833 |
Accumulated other comprehensive loss, net | (2,109) | (2,149) |
Total shareholder's equity, parent | 47,853 | 46,832 |
Total liabilities and equity | 134,454 | 133,840 |
EGTS | ||
Current assets: | ||
Cash and cash equivalents | 46 | 16 |
Restricted cash and cash equivalents | 29 | 29 |
Trade receivables, net | 84 | 113 |
Receivables from affiliates | 13 | 13 |
Inventories | 51 | 50 |
Prepayments and other deferred charges | 34 | 36 |
Natural gas imbalances | 62 | 193 |
Other current assets | 12 | 30 |
Total current assets | 331 | 480 |
Property, plant and equipment, net | 4,604 | 4,504 |
Other assets | 185 | 190 |
Total assets | 5,120 | 5,174 |
Current liabilities: | ||
Accounts payable | 30 | 46 |
Accounts payable to affiliates | 5 | 5 |
Accrued interest | 23 | 7 |
Accrued property, income and other taxes | 59 | 71 |
Accrued employee expenses | 19 | 13 |
Notes payable | 13 | 36 |
Regulatory liabilities | 21 | 109 |
Customer and security deposits | 29 | 29 |
Asset retirement obligations | 22 | 25 |
Other current liabilities | 31 | 32 |
Total current liabilities | 252 | 373 |
Long-term debt | 1,582 | 1,582 |
Regulatory liabilities | 517 | 518 |
Other long-term liabilities | 102 | 101 |
Total liabilities | 2,453 | 2,574 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 609 | 609 |
Additional paid-in capital | 1,282 | 1,275 |
Retained earnings | 805 | 746 |
Accumulated other comprehensive loss, net | (29) | (30) |
Total shareholder's equity, parent | 2,667 | 2,600 |
Total liabilities and equity | $ 5,120 | $ 5,174 |
Consolidated Balance Sheets _12
Consolidated Balance Sheets (Unaudited) - EGTS (Parenthetical) - $ / shares | Mar. 31, 2023 | Dec. 31, 2022 |
Common stock, shares authorized | 115,000,000 | 115,000,000 |
Common stock, shares outstanding | 76,000,000 | 76,000,000 |
Common stock, shares issued | 76,000,000 | 76,000,000 |
EGTS | ||
Common stock, shares authorized | 75,000 | 75,000 |
Common stock, par value (in dollars per share) | $ 10,000 | $ 10,000 |
Common stock, shares outstanding | 60,101 | 60,101 |
Common stock, shares issued | 60,101 | 60,101 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating revenue: | ||
Total operating revenue | $ 6,346 | $ 6,030 |
Energy: | ||
Cost of sales | 1,955 | 1,460 |
Operations and maintenance | 1,542 | 943 |
Depreciation and amortization | 1,050 | 1,007 |
Property and other taxes | 212 | 205 |
Real estate | 920 | 1,179 |
Total operating expenses | 5,679 | 4,794 |
Operating income | 667 | 1,236 |
Other income (expense): | ||
Interest expense | (586) | (532) |
Capitalized interest | 24 | 17 |
Allowance for equity funds | 49 | 38 |
Interest and dividend income | 86 | 23 |
Gains (losses) on marketable securities, net | 699 | (1,257) |
Other, net | 40 | 5 |
Total other income (expense) | 312 | (1,706) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) |
Income tax expense (benefit) | (162) | (507) |
Equity income (loss) | (38) | (57) |
Net income (loss) | 1,103 | (20) |
Net income attributable to noncontrolling interests | 114 | 109 |
Net income (loss) attributable to parent | 989 | (129) |
Preferred dividends | 8 | 16 |
Earnings (loss) on common shares | 981 | (145) |
Energy | ||
Operating revenue: | ||
Total operating revenue | 5,471 | 4,823 |
Real estate | ||
Operating revenue: | ||
Total operating revenue | $ 875 | $ 1,207 |
Consolidated Statements of Op_2
Consolidated Statements of Operations (Unaudited) - PAC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating revenue | $ 6,346 | $ 6,030 |
Operating expenses: | ||
Cost of sales | 1,955 | 1,460 |
Operating income | 667 | 1,236 |
Other income (expense): | ||
Interest expense | (586) | (532) |
Allowance for borrowed funds | 24 | 17 |
Allowance for equity funds | 49 | 38 |
Interest and dividend income | 86 | 23 |
Other, net | 40 | 5 |
Total other income (expense) | 312 | (1,706) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) |
Income tax expense (benefit) | (162) | (507) |
Net income (loss) attributable to parent | 989 | (129) |
PAC | ||
Operating revenue | 1,484 | 1,297 |
Operating expenses: | ||
Cost of sales | 614 | 465 |
Operations and maintenance | 705 | 277 |
Depreciation and amortization | 279 | 280 |
Property and other taxes | 53 | 59 |
Total operating expenses | 1,651 | 1,081 |
Operating income | (167) | 216 |
Other income (expense): | ||
Interest expense | (124) | (106) |
Allowance for borrowed funds | 13 | 6 |
Allowance for equity funds | 27 | 13 |
Interest and dividend income | 19 | 7 |
Other, net | 2 | (4) |
Total other income (expense) | (63) | (84) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (230) | 132 |
Income tax expense (benefit) | (110) | 2 |
Net income (loss) attributable to parent | $ (120) | $ 130 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - MEC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating revenue: | ||
Total operating revenue | $ 6,346 | $ 6,030 |
Operating expenses: | ||
Cost of sales | 1,955 | 1,460 |
Total operating expenses | 5,679 | 4,794 |
Operating income | 667 | 1,236 |
Other income (expense): | ||
Interest expense | (586) | (532) |
Allowance for equity funds | 49 | 38 |
Other, net | 40 | 5 |
Total other income (expense) | 312 | (1,706) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) |
Income tax expense (benefit) | (162) | (507) |
Net income (loss) attributable to parent | 989 | (129) |
MEC | ||
Operating revenue: | ||
Total operating revenue | 920 | 1,005 |
Operating expenses: | ||
Operations and maintenance | 205 | 192 |
Depreciation and amortization | 234 | 250 |
Property and other taxes | 42 | 40 |
Total operating expenses | 832 | 905 |
Operating income | 88 | 100 |
Other income (expense): | ||
Interest expense | (80) | (78) |
Allowance for borrowed funds | 4 | 4 |
Allowance for equity funds | 11 | 15 |
Other, net | 16 | (3) |
Total other income (expense) | (49) | (62) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 39 | 38 |
Income tax expense (benefit) | (203) | (206) |
Net income (loss) attributable to parent | 242 | 244 |
Regulated electric | MEC | ||
Operating revenue: | ||
Total operating revenue | 591 | 608 |
Operating expenses: | ||
Cost of sales | 115 | 125 |
Regulated natural gas and other | MEC | ||
Operating revenue: | ||
Total operating revenue | 329 | 397 |
Operating expenses: | ||
Cost of sales | $ 236 | $ 298 |
Consolidated Statements of Op_3
Consolidated Statements of Operations (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating revenue: | ||
Total operating revenue | $ 6,346 | $ 6,030 |
Operating expenses: | ||
Cost of sales | 1,955 | 1,460 |
Total operating expenses | 5,679 | 4,794 |
Operating income | 667 | 1,236 |
Other income (expense): | ||
Interest expense | (586) | (532) |
Allowance for equity funds | 49 | 38 |
Other, net | 40 | 5 |
Total other income (expense) | 312 | (1,706) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) |
Income tax expense (benefit) | (162) | (507) |
Net income (loss) attributable to parent | 989 | (129) |
MidAmerican Funding, LLC | ||
Operating revenue: | ||
Total operating revenue | 920 | 1,005 |
Operating expenses: | ||
Operations and maintenance | 205 | 192 |
Depreciation and amortization | 234 | 250 |
Property and other taxes | 42 | 40 |
Total operating expenses | 832 | 905 |
Operating income | 88 | 100 |
Other income (expense): | ||
Interest expense | (84) | (82) |
Allowance for borrowed funds | 4 | 4 |
Allowance for equity funds | 11 | 15 |
Other, net | 28 | (4) |
Total other income (expense) | (41) | (67) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 47 | 33 |
Income tax expense (benefit) | (202) | (208) |
Net income (loss) attributable to parent | 249 | 241 |
Regulated electric | MidAmerican Funding, LLC | ||
Operating revenue: | ||
Total operating revenue | 591 | 608 |
Operating expenses: | ||
Cost of sales | 115 | 125 |
Regulated natural gas and other | MidAmerican Funding, LLC | ||
Operating revenue: | ||
Total operating revenue | 329 | 397 |
Operating expenses: | ||
Cost of sales | $ 236 | $ 298 |
Consolidated Statements of Op_4
Consolidated Statements of Operations (Unaudited) - NPC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating revenue | $ 6,346 | $ 6,030 |
Operating expenses: | ||
Cost of sales | 1,955 | 1,460 |
Total operating expenses | 5,679 | 4,794 |
Operating income | 667 | 1,236 |
Other income (expense): | ||
Interest expense | (586) | (532) |
Capitalized interest | 24 | 17 |
Allowance for equity funds | 49 | 38 |
Interest and dividend income | 86 | 23 |
Other, net | 40 | 5 |
Total other income (expense) | 312 | (1,706) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) |
Income tax expense (benefit) | (162) | (507) |
Net income (loss) attributable to parent | 989 | (129) |
NPC | ||
Operating revenue | 599 | 415 |
Operating expenses: | ||
Cost of sales | 384 | 212 |
Operations and maintenance | 73 | 65 |
Depreciation and amortization | 106 | 103 |
Property and other taxes | 14 | 13 |
Total operating expenses | 577 | 393 |
Operating income | 22 | 22 |
Other income (expense): | ||
Interest expense | (49) | (38) |
Capitalized interest | 2 | 1 |
Allowance for equity funds | 4 | 3 |
Interest and dividend income | 22 | 9 |
Other, net | 4 | 1 |
Total other income (expense) | (17) | (24) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5 | (2) |
Income tax expense (benefit) | 1 | 0 |
Net income (loss) attributable to parent | $ 4 | $ (2) |
Consolidated Statements of Op_5
Consolidated Statements of Operations (Unaudited) - SPPC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Total operating revenue | $ 6,346 | $ 6,030 |
Cost of sales | 1,955 | 1,460 |
Total operating expenses | 5,679 | 4,794 |
Operating income | 667 | 1,236 |
Interest expense | (586) | (532) |
Allowance for equity funds | 49 | 38 |
Interest and dividend income | 86 | 23 |
Other, net | 40 | 5 |
Total other income (expense) | 312 | (1,706) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) |
Income tax expense (benefit) | (162) | (507) |
Net income (loss) attributable to parent | 989 | (129) |
SPPC | ||
Total operating revenue | 400 | 279 |
Operations and maintenance | 56 | 41 |
Depreciation and amortization | 46 | 36 |
Property and other taxes | 7 | 6 |
Total operating expenses | 365 | 241 |
Operating income | 35 | 38 |
Interest expense | (16) | (13) |
Capitalized interest | 2 | 1 |
Allowance for equity funds | 2 | 2 |
Interest and dividend income | 7 | 3 |
Other, net | 1 | 2 |
Total other income (expense) | (4) | (5) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 31 | 33 |
Income tax expense (benefit) | 4 | 5 |
Net income (loss) attributable to parent | 27 | 28 |
SPPC | Regulated electric | ||
Total operating revenue | 304 | 227 |
Cost of sales | 181 | 124 |
SPPC | Regulated natural gas | ||
Total operating revenue | 96 | 52 |
Cost of sales | $ 75 | $ 34 |
Consolidated Statements of Op_6
Consolidated Statements of Operations (Unaudited) - EEGH - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating revenue | $ 6,346 | $ 6,030 |
Operating expenses: | ||
Total operating expenses | 5,679 | 4,794 |
Operating income | 667 | 1,236 |
Other income (expense): | ||
Interest expense | (586) | (532) |
Allowance for equity funds | 49 | 38 |
Interest and dividend income | 86 | 23 |
Other, net | 40 | 5 |
Total other income (expense) | 312 | (1,706) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) |
Income tax expense (benefit) | (162) | (507) |
Equity income (loss) | (38) | (57) |
Net income (loss) | 1,103 | (20) |
Net income attributable to noncontrolling interests | 114 | 109 |
Net income (loss) attributable to parent | 989 | (129) |
EEGH | ||
Operating revenue | 553 | 482 |
Operating expenses: | ||
Cost of (excess) gas | 20 | (1) |
Operations and maintenance | 143 | 118 |
Depreciation and amortization | 80 | 85 |
Property and other taxes | 37 | 29 |
Total operating expenses | 280 | 231 |
Operating income | 273 | 251 |
Other income (expense): | ||
Interest expense | (37) | (36) |
Allowance for equity funds | 2 | 2 |
Interest and dividend income | 9 | 0 |
Other, net | 0 | (1) |
Total other income (expense) | (26) | (35) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 247 | 216 |
Income tax expense (benefit) | 39 | 30 |
Equity income (loss) | 32 | 19 |
Net income (loss) | 240 | 205 |
Net income attributable to noncontrolling interests | 118 | 111 |
Net income (loss) attributable to parent | $ 122 | $ 94 |
Consolidated Statements of Op_7
Consolidated Statements of Operations (Unaudited) - EGTS - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating revenue | $ 6,346 | $ 6,030 |
Operating expenses: | ||
Total operating expenses | 5,679 | 4,794 |
Operating income | 667 | 1,236 |
Other income (expense): | ||
Interest expense | (586) | (532) |
Allowance for equity funds | 49 | 38 |
Total other income (expense) | 312 | (1,706) |
Income tax expense (benefit) | (162) | (507) |
Net income (loss) attributable to parent | 989 | (129) |
EGTS | ||
Operating revenue | 278 | 223 |
Operating expenses: | ||
Cost of (excess) gas | 20 | (3) |
Operations and maintenance | 99 | 84 |
Depreciation and amortization | 37 | 43 |
Property and other taxes | 14 | 9 |
Total operating expenses | 170 | 133 |
Operating income | 108 | 90 |
Other income (expense): | ||
Interest expense | (18) | (17) |
Allowance for equity funds | 1 | 1 |
Total other income (expense) | (17) | (16) |
Income before income tax expense (benefit) | 91 | 74 |
Income tax expense (benefit) | 23 | 19 |
Net income (loss) attributable to parent | $ 68 | $ 55 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||
Net income (loss) | $ 1,103 | $ (20) |
Other comprehensive income (loss), net of tax: | ||
Unrecognized amounts on retirement benefits, net of tax | (4) | 15 |
Foreign currency translation adjustment | 99 | (110) |
Unrealized gains (losses) on cash flow hedges, net of tax | (55) | 77 |
Total other comprehensive income (loss), net of tax | 40 | (18) |
Comprehensive income (loss) | 1,143 | (38) |
Comprehensive income attributable to noncontrolling interests | 114 | 109 |
Comprehensive income (loss) attributable to parent | $ 1,029 | $ (147) |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||
Unrecognized amounts on retirement benefits, tax | $ (3) | $ 3 |
Unrealized gains (losses) on cash flow hedges, tax | $ (20) | $ 28 |
Consolidated Statements of Co_3
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - EEGH - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net income (loss) | $ 1,103 | $ (20) |
Other comprehensive income (loss), net of tax: | ||
Unrecognized amounts on retirement benefits, net of tax | (4) | 15 |
Unrealized gains (losses) on cash flow hedges, net of tax | (55) | 77 |
Total other comprehensive income (loss), net of tax | 40 | (18) |
Comprehensive income (loss) | 1,143 | (38) |
Comprehensive income attributable to noncontrolling interests | 114 | 109 |
Comprehensive income (loss) attributable to parent | 1,029 | (147) |
EEGH | ||
Net income (loss) | 240 | 205 |
Other comprehensive income (loss), net of tax: | ||
Unrecognized amounts on retirement benefits, net of tax | (1) | 1 |
Unrealized gains (losses) on cash flow hedges, net of tax | (2) | 4 |
Total other comprehensive income (loss), net of tax | (3) | 5 |
Comprehensive income (loss) | 237 | 210 |
Comprehensive income attributable to noncontrolling interests | 118 | 111 |
Comprehensive income (loss) attributable to parent | $ 119 | $ 99 |
Consolidated Statements of Co_4
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - EEGH (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Unrecognized amounts on retirement benefits, tax | $ (3) | $ 3 |
Unrealized gains (losses) on cash flow hedges, tax | (20) | 28 |
EEGH | ||
Unrecognized amounts on retirement benefits, tax | 0 | 0 |
Unrealized gains (losses) on cash flow hedges, tax | $ (1) | $ 1 |
Consolidated Statements of Co_5
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - EGTS - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net income (loss) | $ 989 | $ (129) |
Other comprehensive income (loss), net of tax: | ||
Comprehensive income (loss) attributable to parent | 1,029 | (147) |
EGTS | ||
Net income (loss) | 68 | 55 |
Other comprehensive income (loss), net of tax: | ||
Unrealized gains (losses) on cash flow hedges, net of tax | 1 | 1 |
Total other comprehensive (loss) income, net of tax | 1 | 1 |
Comprehensive income (loss) attributable to parent | $ 69 | $ 56 |
Consolidated Statements of Co_6
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - EGTS (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Unrealized gains (losses) on cash flow hedges, tax | $ (20) | $ 28 |
EGTS | ||
Unrealized gains (losses) on cash flow hedges, tax | $ 0 | $ 0 |
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) | (20) | (129) | 109 | |||||
Other comprehensive income (loss) | (18) | (18) | ||||||
Preferred stock dividend | (16) | (16) | ||||||
Distributions | (116) | (116) | ||||||
Other equity transactions | 5 | (1) | 6 | |||||
Balance at Mar. 31, 2022 | 50,424 | 1,650 | 0 | 6,374 | (744) | 40,608 | (1,358) | 3,894 |
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) | 1,103 | 989 | 114 | |||||
Other comprehensive income (loss) | 40 | 40 | ||||||
Preferred stock dividend | (8) | (8) | ||||||
Distributions | (125) | (125) | ||||||
Contributions | 2 | 2 | ||||||
Balance at Mar. 31, 2023 | $ 51,651 | $ 850 | $ 0 | $ 6,298 | $ 0 | $ 42,814 | $ (2,109) | $ 3,798 |
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) | $ (129) | 130 | 130 | |||||
Other comprehensive income (loss) | (18) | $ (18) | 1 | 1 | ||||
Balance at Mar. 31, 2022 | 10,044 | 2 | 0 | 4,479 | 5,579 | (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) | 989 | (120) | (120) | |||||
Other comprehensive income (loss) | 40 | $ 40 | ||||||
Dividends declared | (300) | (300) | ||||||
Balance at Mar. 31, 2023 | $ 47,853 | $ 10,321 | $ 2 | $ 0 | $ 4,479 | $ 5,849 | $ (9) |
Statements of Changes in Shareh
Statements of Changes in Shareholder's Equity (Unaudited) - MEC - USD ($) $ in Millions | Total | 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) | $ (129) | 244 | 244 | |||
Other equity transactions | 5 | $ (1) | ||||
Balance at Mar. 31, 2022 | 9,204 | 0 | 561 | 8,643 | ||
Balance at Dec. 31, 2022 | 46,832 | 9,645 | 0 | 561 | 9,084 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 989 | 242 | 242 | |||
Dividends declared | (100) | (100) | ||||
Other equity transactions | 1 | 1 | ||||
Balance at Mar. 31, 2023 | $ 47,853 | $ 9,788 | $ 0 | $ 561 | $ 9,227 |
Consolidated Statements of Ch_3
Consolidated Statements of Changes in Member's Equity (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | Total | 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) | $ (129) | 241 | 241 | |
Balance at Mar. 31, 2022 | 10,042 | 1,679 | 8,363 | |
Balance at Dec. 31, 2022 | 46,832 | 10,679 | 1,679 | 9,000 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income (loss) | 989 | 249 | 249 | |
Distribution to member | (100) | (100) | ||
Balance at Mar. 31, 2023 | $ 47,853 | $ 10,828 | $ 1,679 | $ 9,149 |
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) | $ (129) | (2) | (2) | |||
Balance (shares) at Mar. 31, 2022 | 1,000 | |||||
Balance at Mar. 31, 2022 | $ 3,028 | $ 0 | 2,308 | 722 | (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) | $ 989 | 4 | 4 | |||
Contributions | $ 400 | 400 | ||||
Balance (shares) at Mar. 31, 2023 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Mar. 31, 2023 | $ 47,853 | $ 3,758 | $ 0 | $ 2,733 | $ 1,026 | $ (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) | $ (129) | 28 | 28 | |||
Contributions | 130 | 130 | ||||
Balance (shares) at Mar. 31, 2022 | 1,000 | |||||
Balance at Mar. 31, 2022 | $ 1,693 | $ 0 | 1,241 | 453 | (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) | $ 989 | $ 27 | 27 | |||
Balance (shares) at Mar. 31, 2023 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Mar. 31, 2023 | $ 47,853 | $ 2,075 | $ 0 | $ 1,576 | $ 500 | $ (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 (loss) | (20) | 205 | 94 | 111 | |||
Other comprehensive income (loss) | (18) | 5 | (18) | 5 | |||
Distributions | (114) | (114) | |||||
Balance at Mar. 31, 2022 | 50,424 | 7,590 | 3,595 | (1,358) | (38) | 3,894 | 4,033 |
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 (loss) | 1,103 | 240 | 122 | 118 | |||
Other comprehensive income (loss) | 40 | (3) | 40 | (3) | |||
Distributions | (130) | (6) | (124) | ||||
Contributions | 10 | 10 | |||||
Balance at Mar. 31, 2023 | $ 51,651 | $ 8,005 | $ 4,109 | $ (2,109) | $ (45) | $ 3,798 | $ 3,941 |
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) Income, 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 (loss) | $ (129) | 55 | 55 | |||
Other comprehensive income (loss) | 1 | 1 | ||||
Balance (shares) at Mar. 31, 2022 | 60,101,000,000 | |||||
Balance at Mar. 31, 2022 | $ 2,596 | $ 609 | 1,241 | 776 | (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 (loss) | $ 989 | 68 | 68 | |||
Other comprehensive income (loss) | 1 | 1 | ||||
Dividends declared | (9) | (9) | ||||
Contributions | $ 7 | 7 | ||||
Balance (shares) at Mar. 31, 2023 | 76,000,000 | 60,101 | 60,101,000,000 | |||
Balance at Mar. 31, 2023 | $ 47,853 | $ 2,667 | $ 609 | $ 1,282 | $ 805 | $ (29) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 1,103 | $ (20) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
(Gains) losses on marketable securities, net | (699) | 1,257 |
Depreciation and amortization | 1,063 | 1,022 |
Allowance for equity funds | (49) | (38) |
Equity (income) loss, net of distributions | 68 | 88 |
Net power cost deferrals | (504) | (72) |
Amortization of net power cost deferrals | 130 | 47 |
Other changes in regulatory assets and liabilities | (26) | (17) |
Deferred income taxes and investment tax credits, net | (11) | (203) |
Other, net | 15 | 6 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 120 | 333 |
Derivative collateral, net | (225) | 85 |
Pension and other postretirement benefit plans | (7) | (11) |
Accrued property, income and other taxes, net | (177) | (347) |
Accounts payable and other liabilities | 294 | 91 |
Net cash flows from operating activities | 1,095 | 2,221 |
Cash flows from investing activities: | ||
Capital expenditures | (1,848) | (1,553) |
Purchases of marketable securities | (106) | (170) |
Proceeds from sales of marketable securities | 1,091 | 149 |
Purchases of U.S. Treasury Bills | (1,519) | 0 |
Proceeds from maturities of U.S. Treasury Bills | 623 | 0 |
Equity method investments | (19) | (17) |
Other, net | 0 | 19 |
Net cash flows from investing activities | (1,778) | (1,572) |
Cash flows from financing activities: | ||
Repayments of BHE senior debt | (400) | 0 |
Proceeds from subsidiary debt | 0 | 405 |
Repayments of subsidiary debt | (136) | (193) |
Net proceeds from (repayments of) short-term debt | 699 | (165) |
Distributions to noncontrolling interests | (126) | (117) |
Other, net | (17) | (240) |
Net cash flows from financing activities | 20 | (310) |
Effect of exchange rate changes | 1 | (1) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (662) | 338 |
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 | $ 1,155 | $ 1,582 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Unaudited) - PAC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 989 | $ (129) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (49) | (38) |
Net power cost deferrals | (504) | (72) |
Amortization of net power cost deferrals | 130 | 47 |
Other changes in regulatory assets and liabilities | (26) | (17) |
Deferred income taxes and investment tax credits, net | (11) | (203) |
Other, net | 15 | 6 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 120 | 333 |
Derivative collateral, net | (225) | 85 |
Accrued property, income and other taxes, net | (177) | (347) |
Accounts payable and other liabilities | 294 | 91 |
Net cash flows from operating activities | 1,095 | 2,221 |
Cash flows from investing activities: | ||
Capital expenditures | (1,848) | (1,553) |
Other, net | 0 | 19 |
Net cash flows from investing activities | (1,778) | (1,572) |
Cash flows from financing activities: | ||
Other, net | (17) | (240) |
Net cash flows from financing activities | 20 | (310) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (662) | 338 |
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 | 1,155 | 1,582 |
PAC | ||
Cash flows from operating activities: | ||
Net income (loss) | (120) | 130 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 279 | 280 |
Allowance for equity funds | (27) | (13) |
Net power cost deferrals | (136) | (14) |
Amortization of net power cost deferrals | 36 | 11 |
Other changes in regulatory assets and liabilities | (6) | (6) |
Deferred income taxes and investment tax credits, net | (75) | 19 |
Other, net | (2) | 4 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 37 | 59 |
Inventories | (17) | (5) |
Derivative collateral, net | (78) | 22 |
Accrued property, income and other taxes, net | (11) | 15 |
Accounts payable and other liabilities | 459 | 35 |
Net cash flows from operating activities | 339 | 537 |
Cash flows from investing activities: | ||
Capital expenditures | (643) | (374) |
Other, net | (1) | 3 |
Net cash flows from investing activities | (644) | (371) |
Cash flows from financing activities: | ||
Repayments of long-term debt | (9) | (9) |
Dividends paid | (300) | 0 |
Other, net | (2) | (2) |
Net cash flows from financing activities | (311) | (11) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (616) | 155 |
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 | $ 58 | $ 341 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - MEC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 989 | $ (129) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (49) | (38) |
Deferred income taxes and investment tax credits, net | (11) | (203) |
Other, net | 15 | 6 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 120 | 333 |
Pension and other postretirement benefit plans | (7) | (11) |
Accrued property, income and other taxes, net | (177) | (347) |
Accounts payable and other liabilities | 294 | 91 |
Net cash flows from operating activities | 1,095 | 2,221 |
Cash flows from investing activities: | ||
Capital expenditures | (1,848) | (1,553) |
Purchases of marketable securities | (106) | (170) |
Proceeds from sales of marketable securities | 1,091 | 149 |
Other, net | 0 | 19 |
Net cash flows from investing activities | (1,778) | (1,572) |
Cash flows from financing activities: | ||
Other, net | (17) | (240) |
Net cash flows from financing activities | 20 | (310) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (662) | 338 |
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 | 1,155 | 1,582 |
MEC | ||
Cash flows from operating activities: | ||
Net income (loss) | 242 | 244 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 234 | 250 |
Amortization of utility plant to other operating expenses | 8 | 9 |
Allowance for equity funds | (11) | (15) |
Deferred income taxes and investment tax credits, net | 32 | 16 |
Settlements of asset retirement obligations | (6) | (7) |
Other, net | 8 | 10 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 131 | 42 |
Inventories | (3) | 49 |
Pension and other postretirement benefit plans | (3) | 3 |
Accrued property, income and other taxes, net | (263) | (244) |
Accounts payable and other liabilities | (81) | 3 |
Net cash flows from operating activities | 288 | 360 |
Cash flows from investing activities: | ||
Capital expenditures | (382) | (459) |
Purchases of marketable securities | (48) | (105) |
Proceeds from sales of marketable securities | 42 | 102 |
Other, net | 4 | 1 |
Net cash flows from investing activities | (384) | (461) |
Cash flows from financing activities: | ||
Common stock dividend | (100) | 0 |
Repayments of long-term debt | (7) | (1) |
Other, net | (1) | 1 |
Net cash flows from financing activities | (108) | 0 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (204) | (101) |
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 | $ 64 | $ 138 |
Consolidated Statements of Ca_3
Consolidated Statements of Cash Flows (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 989 | $ (129) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (49) | (38) |
Deferred income taxes and investment tax credits, net | (11) | (203) |
Other, net | 15 | 6 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 120 | 333 |
Pension and other postretirement benefit plans | (7) | (11) |
Accrued property, income and other taxes, net | (177) | (347) |
Accounts payable and other liabilities | 294 | 91 |
Net cash flows from operating activities | 1,095 | 2,221 |
Cash flows from investing activities: | ||
Capital expenditures | (1,848) | (1,553) |
Purchases of marketable securities | (106) | (170) |
Proceeds from sales of marketable securities | 1,091 | 149 |
Other, net | 0 | 19 |
Net cash flows from investing activities | (1,778) | (1,572) |
Cash flows from financing activities: | ||
Repayments of long-term debt | (136) | (193) |
Other, net | (17) | (240) |
Net cash flows from financing activities | 20 | (310) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (662) | 338 |
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 | 1,155 | 1,582 |
MidAmerican Funding, LLC | ||
Cash flows from operating activities: | ||
Net income (loss) | 249 | 241 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 234 | 250 |
Amortization of utility plant to other operating expenses | 8 | 9 |
Allowance for equity funds | (11) | (15) |
Deferred income taxes and investment tax credits, net | 32 | 16 |
Settlements of asset retirement obligations | (6) | (7) |
Other, net | (5) | 10 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 123 | 43 |
Inventories | (3) | 49 |
Pension and other postretirement benefit plans | (3) | 3 |
Accrued property, income and other taxes, net | (261) | (245) |
Accounts payable and other liabilities | (85) | (1) |
Net cash flows from operating activities | 272 | 353 |
Cash flows from investing activities: | ||
Capital expenditures | (382) | (459) |
Purchases of marketable securities | (48) | (105) |
Proceeds from sales of marketable securities | 42 | 102 |
Proceeds from sale of investment | 12 | 0 |
Other, net | 5 | 1 |
Net cash flows from investing activities | (371) | (461) |
Cash flows from financing activities: | ||
Distribution to member | (100) | 0 |
Repayments of long-term debt | (7) | (1) |
Net change in note payable to affiliate | 0 | 8 |
Other, net | (1) | 0 |
Net cash flows from financing activities | (108) | 7 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (207) | (101) |
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 | $ 64 | $ 139 |
Consolidated Statements of Ca_4
Consolidated Statements of Cash Flows (Unaudited) - NPC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 989 | $ (129) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (49) | (38) |
Deferred income taxes and investment tax credits, net | (11) | (203) |
Net power cost deferrals | (504) | (72) |
Amortization of net power cost deferrals | 130 | 47 |
Other, net | 15 | 6 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 120 | 333 |
Accrued property, income and other taxes, net | (177) | (347) |
Accounts payable and other liabilities | 294 | 91 |
Net cash flows from operating activities | 1,095 | 2,221 |
Cash flows from investing activities: | ||
Capital expenditures | (1,848) | (1,553) |
Net cash flows from investing activities | (1,778) | (1,572) |
Cash flows from financing activities: | ||
Net proceeds from (repayments of) short-term debt | 699 | (165) |
Other, net | (17) | (240) |
Net cash flows from financing activities | 20 | (310) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (662) | 338 |
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 | 1,155 | 1,582 |
NPC | ||
Cash flows from operating activities: | ||
Net income (loss) | 4 | (2) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 106 | 103 |
Allowance for equity funds | (4) | (3) |
Other changes in regulatory assets and liabilities | (9) | (8) |
Deferred income taxes and investment tax credits, net | (10) | 5 |
Net power cost deferrals | (370) | (51) |
Amortization of net power cost deferrals | 52 | 13 |
Other, net | 1 | 4 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 74 | 33 |
Inventories | (13) | 3 |
Accrued property, income and other taxes, net | 1 | (15) |
Accounts payable and other liabilities | (44) | 3 |
Net cash flows from operating activities | (212) | 85 |
Cash flows from investing activities: | ||
Capital expenditures | (333) | (189) |
Proceeds from repayment of affiliate note receivable | 100 | 0 |
Net cash flows from investing activities | (233) | (189) |
Cash flows from financing activities: | ||
Net (repayments of) proceeds from long-term debt | (1) | 200 |
Net proceeds from (repayments of) short-term debt | 33 | (76) |
Contributions from parent | 400 | 0 |
Other, net | (5) | (4) |
Net cash flows from financing activities | 427 | 120 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (18) | 16 |
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 | $ 42 | $ 61 |
Consolidated Statements of Ca_5
Consolidated Statements of Cash Flows (Unaudited) - SPPC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 989 | $ (129) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (49) | (38) |
Deferred income taxes and investment tax credits, net | (11) | (203) |
Net power cost deferrals | (504) | (72) |
Amortization of net power cost deferrals | 130 | 47 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 120 | 333 |
Accrued property, income and other taxes, net | (177) | (347) |
Accounts payable and other liabilities | 294 | 91 |
Net cash flows from operating activities | 1,095 | 2,221 |
Cash flows from investing activities: | ||
Capital expenditures | (1,848) | (1,553) |
Net cash flows from investing activities | (1,778) | (1,572) |
Cash flows from financing activities: | ||
Net proceeds from (repayments of) short-term debt | 699 | (165) |
Other, net | (17) | (240) |
Net cash flows from financing activities | 20 | (310) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (662) | 338 |
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 | 1,155 | 1,582 |
SPPC | ||
Cash flows from operating activities: | ||
Net income (loss) | 27 | 28 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 46 | 36 |
Allowance for equity funds | (2) | (2) |
Other changes in regulatory assets and liabilities | 6 | (4) |
Deferred income taxes and investment tax credits, net | (11) | (3) |
Net power cost deferrals | 2 | (7) |
Amortization of net power cost deferrals | 42 | 23 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (5) | 12 |
Inventories | (4) | (6) |
Accrued property, income and other taxes, net | 17 | 7 |
Accounts payable and other liabilities | (31) | (21) |
Net cash flows from operating activities | 87 | 63 |
Cash flows from investing activities: | ||
Capital expenditures | (104) | (83) |
Net cash flows from investing activities | (104) | (83) |
Cash flows from financing activities: | ||
Net proceeds from (repayments of) short-term debt | 50 | (102) |
Proceeds from equity contributions | 0 | 130 |
Repayment of notes payable to affiliates, net | (70) | 0 |
Other, net | (2) | (2) |
Net cash flows from financing activities | (22) | 26 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (39) | 6 |
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 | $ 17 | $ 22 |
Consolidated Statements of Ca_6
Consolidated Statements of Cash Flows (Unaudited) - EEGH - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 1,103 | $ (20) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 1,063 | 1,022 |
Allowance for equity funds | (49) | (38) |
Equity (income) loss, net of distributions | 68 | 88 |
Deferred income taxes | (11) | (203) |
Other, net | 15 | 6 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 120 | 333 |
Derivative collateral, net | (225) | 85 |
Accrued property, income and other taxes | (177) | (347) |
Accounts payable and other liabilities | 294 | 91 |
Net cash flows from operating activities | 1,095 | 2,221 |
Cash flows from investing activities: | ||
Capital expenditures | (1,848) | (1,553) |
Other, net | 0 | 19 |
Net cash flows from investing activities | (1,778) | (1,572) |
Cash flows from financing activities: | ||
Distributions to noncontrolling interests | (126) | (117) |
Net cash flows from financing activities | 20 | (310) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (662) | 338 |
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 | 1,155 | 1,582 |
EEGH | ||
Cash flows from operating activities: | ||
Net income (loss) | 240 | 205 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Losses on other items, net | 1 | 1 |
Depreciation and amortization | 80 | 85 |
Allowance for equity funds | (2) | (2) |
Equity (income) loss, net of distributions | (6) | (8) |
Other changes in regulatory assets and liabilities | (92) | (14) |
Deferred income taxes | 20 | 27 |
Other, net | 2 | 2 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 40 | 40 |
Gas balancing activities | 19 | 4 |
Derivative collateral, net | 1 | 2 |
Accrued property, income and other taxes | 9 | (29) |
Accounts payable and other liabilities | 7 | 28 |
Net cash flows from operating activities | 319 | 341 |
Cash flows from investing activities: | ||
Capital expenditures | (59) | (75) |
Proceeds from repayment of affiliate note receivable | 40 | 3 |
Notes to affiliates | (134) | (117) |
Other, net | (3) | (5) |
Net cash flows from investing activities | (156) | (194) |
Cash flows from financing activities: | ||
Distributions to noncontrolling interests | (124) | (114) |
Net cash flows from financing activities | (124) | (114) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 39 | 33 |
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 | $ 134 | $ 72 |
Consolidated Statements of Ca_7
Consolidated Statements of Cash Flows (Unaudited) - EGTS - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 989 | $ (129) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 1,063 | 1,022 |
Allowance for equity funds | (49) | (38) |
Deferred income taxes | (11) | (203) |
Other, net | 15 | 6 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 120 | 333 |
Accrued property, income and other taxes | (177) | (347) |
Accounts payable and other liabilities | 294 | 91 |
Net cash flows from operating activities | 1,095 | 2,221 |
Cash flows from investing activities: | ||
Capital expenditures | (1,848) | (1,553) |
Other, net | 0 | 19 |
Net cash flows from investing activities | (1,778) | (1,572) |
Cash flows from financing activities: | ||
Net cash flows from financing activities | 20 | (310) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (662) | 338 |
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 | 1,155 | 1,582 |
EGTS | ||
Cash flows from operating activities: | ||
Net income (loss) | 68 | 55 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 37 | 43 |
Allowance for equity funds | (1) | (1) |
Other changes in regulatory assets and liabilities | (85) | (6) |
Deferred income taxes | 8 | 13 |
Other, net | 1 | 3 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 42 | 37 |
Receivables from affiliates | 0 | (9) |
Gas balancing activities | 17 | (1) |
Accrued property, income and other taxes | (15) | (18) |
Accounts payable and other liabilities | 21 | 20 |
Accounts payable to affiliates | 0 | (8) |
Net cash flows from operating activities | 93 | 128 |
Cash flows from investing activities: | ||
Capital expenditures | (37) | (53) |
Other, net | (3) | (3) |
Net cash flows from investing activities | (40) | (56) |
Cash flows from financing activities: | ||
Repayment of notes payable to affiliates, net | (23) | (68) |
Net cash flows from financing activities | (23) | (68) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 30 | 4 |
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 | $ 75 | $ 30 |
General
General | 3 Months Ended |
Mar. 31, 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 and 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, 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 three-month period ended March 31, 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 the 2022 McKinney fire as discussed in Note 9. |
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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income materially equals comprehensive income for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 three-month period ended March 31, 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 the 2022 McKinney fire 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 three-month period ended March 31, 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 three-month period ended March 31, 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 three-month period ended March 31, 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 three-month period ended March 31, 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. Eastern Energy Gas owns 100% of the general partner interest and 25% of the limited partnership interest in 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 March 31, 2023 and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 three-month period ended March 31, 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 March 31, 2023 and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 three-month period ended March 31, 2023. |
Cash and Cash Equivalents and R
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 19 $ 641 Restricted cash and cash equivalents included in other current assets 8 7 Restricted cash included in other assets 31 26 Total cash and cash equivalents and restricted cash and cash equivalents $ 58 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 57 $ 258 Restricted cash and cash equivalents in other current assets 7 10 Total cash and cash equivalents and restricted cash and cash equivalents $ 64 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 58 $ 261 Restricted cash and cash equivalents in other current assets 6 10 Total cash and cash equivalents and restricted cash and cash equivalents $ 64 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 23 $ 43 Restricted cash and cash equivalents included in other current assets 19 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 42 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 8 $ 49 Restricted cash and cash equivalents included in other current assets 9 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 17 $ 56 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 3 Months Ended |
Mar. 31, 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 March 31, December 31, Life 2023 2022 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 93,123 $ 92,759 Interstate natural gas pipeline assets 3-80 years 18,492 18,328 111,615 111,087 Accumulated depreciation and amortization (35,395) (34,599) Regulated assets, net 76,220 76,488 Nonregulated assets: Independent power plants 2-50 years 8,514 8,545 Cove Point LNG facility 40 years 3,416 3,412 Other assets 2-30 years 2,680 2,693 14,610 14,650 Accumulated depreciation and amortization (3,493) (3,452) Nonregulated assets, net 11,117 11,198 87,337 87,686 Construction work-in-progress 6,246 5,357 Property, plant and equipment, net $ 93,583 $ 93,043 Construction work-in-progress includes $5.8 billion as of March 31, 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 March 31, December 31, Depreciable Life 2023 2022 Utility plant: Generation 15 - 59 years $ 13,721 $ 13,726 Transmission 60 - 90 years 8,063 8,051 Distribution 20 - 75 years 8,578 8,477 Intangible plant (1) and other 5 - 75 years 2,758 2,755 Utility plant in-service 33,120 33,009 Accumulated depreciation and amortization (11,256) (11,093) Utility plant in-service, net 21,864 21,916 Nonregulated, net of accumulated depreciation and amortization 14 - 95 years 18 18 21,882 21,934 Construction work-in-progress 2,813 2,496 Property, plant and equipment, net $ 24,695 $ 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 March 31, December 31, Depreciable Life 2023 2022 Utility plant: Generation 20-62 years $ 18,385 $ 18,582 Transmission 55-80 years 2,672 2,662 Electric distribution 15-80 years 4,983 4,931 Natural gas distribution 30-75 years 2,166 2,144 Utility plant in-service 28,206 28,319 Accumulated depreciation and amortization (8,210) (8,024) Utility plant in-service, net 19,996 20,295 Nonregulated property, net of accumulated depreciation and amortization 20-50 years 6 6 20,002 20,301 Construction work-in-progress 979 790 Property, plant and equipment, net $ 20,981 $ 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 three-month periods ended March 31, 2023 and 2022, $20 million and $42 million, respectively, is reflected in depreciation and amortization expense on the Statement 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 March 31, December 31, 2023 2022 Utility plant: Generation 30 - 55 years $ 3,977 $ 3,977 Transmission 45 - 70 years 1,569 1,562 Distribution 20 - 65 years 4,189 4,134 General and intangible plant 5 - 65 years 887 871 Utility plant 10,622 10,544 Accumulated depreciation and amortization (3,677) (3,624) Utility plant, net 6,945 6,920 Non-regulated, net of accumulated depreciation and amortization 45 years 1 1 6,946 6,921 Construction work-in-progress 703 485 Property, plant and equipment, net $ 7,649 $ 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 March 31, December 31, 2023 2022 Utility plant: Electric generation 25 - 70 years $ 1,301 $ 1,298 Electric transmission 50 - 76 years 995 993 Electric distribution 20 - 76 years 1,999 1,983 Electric general and intangible plant 5 - 65 years 221 219 Natural gas distribution 35 - 70 years 459 455 Natural gas general and intangible plant 5 - 65 years 16 15 Common general 5 - 65 years 380 380 Utility plant 5,371 5,343 Accumulated depreciation and amortization (2,024) (1,992) 3,347 3,351 Construction work-in-progress 275 236 Property, plant and equipment, net $ 3,622 $ 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 March 31, December 31, Depreciable Life 2023 2022 Utility plant: Interstate natural gas transmission and storage assets 21 - 52 years $ 9,053 $ 8,922 Intangible plant 5 - 18 years 116 113 Utility plant in-service 9,169 9,035 Accumulated depreciation and amortization (3,075) (3,039) Utility plant in-service, net 6,094 5,996 Nonutility plant: LNG facility 40 years 4,526 4,522 Intangible plant 14 years 25 25 Nonutility plant 4,551 4,547 Accumulated depreciation and amortization (574) (542) Nonutility plant, net 3,977 4,005 10,071 10,001 Construction work-in-progress 210 201 Property, plant and equipment, net $ 10,281 $ 10,202 Construction work-in-progress includes $192 million and $181 million as of March 31, 2023 and December 31, 2022, respectively, related to the construction of utility plant. |
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 March 31, December 31, Depreciable Life 2023 2022 Interstate natural gas transmission and storage assets 28 - 50 years $ 6,842 $ 6,724 Intangible plant 12 - 20 years 80 79 Plant in-service 6,922 6,803 Accumulated depreciation and amortization (2,465) (2,440) 4,457 4,363 Construction work-in-progress 147 141 Property, plant and equipment, net $ 4,604 $ 4,504 |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2023 | |
EEGH | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory MattersIn September 2021, Eastern Gas Transmission and Storage, Inc. ("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 | 3 Months Ended |
Mar. 31, 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 March 31, December 31, 2023 2022 Investments: BYD Company Limited common stock $ 3,321 $ 3,763 U.S. Treasury Bills 2,854 1,931 Rabbi trusts 449 433 Other 318 335 Total investments 6,942 6,462 Equity method investments: BHE Renewables tax equity investments 4,430 4,535 Electric Transmission Texas, LLC 641 623 Iroquois Gas Transmission System, L.P. 604 600 Other 352 304 Total equity method investments 6,027 6,062 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 696 664 Other restricted cash and cash equivalents 192 226 Total restricted cash and cash equivalents and investments 888 890 Total investments and restricted cash and cash equivalents and investments $ 13,857 $ 13,414 Reflected as: Other current assets $ 3,032 $ 2,141 Noncurrent assets 10,825 11,273 Total investments and restricted cash and cash equivalents and investments $ 13,857 $ 13,414 Investments Gains (losses) on marketable securities, net recognized during the period consists of the following (in millions): Three-Month Periods Ended March 31, 2023 2022 Unrealized gains (losses) recognized on marketable securities held at the reporting date $ 529 $ (1,257) Net gains recognized on marketable securities sold during the period 170 — Gains (losses) on marketable securities, net $ 699 $ (1,257) 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 963 $ 1,591 Investments and restricted cash and cash equivalents 133 173 Investments and restricted cash and cash equivalents and investments 59 53 Total cash and cash equivalents and restricted cash and cash equivalents $ 1,155 $ 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 March 31, December 31, 2023 2022 Investments: Investment funds $ 17 $ 14 Equity method investments: Iroquois 268 264 Total investments 285 278 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 $ 316 $ 308 Reflected as: Current assets $ 31 $ 30 Noncurrent assets 285 278 Total investments and restricted cash and cash equivalents $ 316 $ 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 March 31, 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 $26 million and $11 million for the three-month periods ended March 31, 2023 and 2022, respectively. 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 103 $ 65 Restricted cash and cash equivalents included in other current assets 31 30 Total cash and cash equivalents and restricted cash and cash equivalents $ 134 $ 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 March 31, December 31, 2023 2022 Investments: Investment funds $ 17 $ 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 $ 46 $ 43 Reflected as: Current assets $ 29 $ 29 Noncurrent assets 17 14 Total investments and restricted cash and cash equivalents $ 46 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 46 $ 16 Restricted cash and cash equivalents 29 29 Total cash and cash equivalents and restricted cash and cash equivalents $ 75 $ 45 |
Recent Financing Transactions
Recent Financing Transactions | 3 Months Ended |
Mar. 31, 2023 | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Credit Facilities 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 Common Shareholders' Equity In January 2023, PacifiCorp declared a common stock dividend of $300 million, paid in February 2023, to PPW Holdings LLC. |
NPC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt 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%. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 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 March 31, 2022, is 108% and results from a $507 million income tax benefit associated with a $470 million pre-tax loss, primarily relating to a pre-tax unrealized loss of $1,247 million on the Company's investment in BYD Company Limited. The $507 million income tax benefit is primarily comprised of a $99 million benefit (21%) from the application of the statutory income tax rate to the pre-tax loss and a $339 million benefit (72%) 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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % Income tax credits (35) 72 State income tax, net of federal income tax impacts (4) (3) Income tax effect of foreign income 7 3 Effects of ratemaking (3) 8 Equity income (1) 3 Noncontrolling interest (2) 5 Other, net — (1) Effective income tax rate (17) % 108 % 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 three-month periods ended March 31, 2023 and 2022 totaled $343 million and $338 million, respectively. Income tax effect on foreign income includes, among other items, a deferred income tax charge of $82 million recognized in March 2023 related to the July 2022 enactment of a new Energy Profits Levy 25% income tax in the United Kingdom effective May 26, 2022, through December 31, 2025, as well as an increase in the tax rate from 25% to 35% effective January 1, 2023, through March 31, 2028, enacted in January 2023. 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 made no payments for federal income taxes to Berkshire Hathaway for the three-month periods ended March 31, 2023 and 2022. 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 March 31, 2023 of 48% results from a $110 million income tax benefit associated with a $230 million pre-tax loss primarily resulting from the $359 million pre-tax loss associated with the 2020 Wildfires described in Note 9. The $110 million income tax benefit is primarily comprised of a $48 million benefit (21%) from the application of the federal statutory income tax rate to the pre-tax loss and a $29 million benefit (13%) from federal income tax credits. A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to (loss) income before income tax expense (benefit) is as follows: Three-Month Periods Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % State income tax, net of federal income tax benefit 4 3 Federal income tax credits 13 (20) Effects of ratemaking (1) 6 (11) Valuation allowance 5 6 Other (1) 3 Effective income tax rate 48 % 2 % (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 March 31, 2023 and 2022, totaled $29 million and $26 million, respectively. For the three-month period ended March 31, 2023, PacifiCorp released an $11 million valuation allowance related to state net operating loss carryforwards. For the three-month period ended March 31, 2022, PacifiCorp recorded an $8 million valuation allowance related to state net operating loss carryforwards. |
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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % Income tax credits (518) (534) State income tax, net of federal income tax impacts (18) (21) Effects of ratemaking (8) (8) Other, net 2 — Effective income tax rate (521) % (542) % 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 other 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 three-month periods ended March 31, 2023 and 2022, totaled $202 million and $203 million, 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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % Income tax credits (430) (618) State income tax, net of federal income tax impacts (13) (24) Effects of ratemaking (6) (9) Other, net (2) — Effective income tax rate (430) % (630) % 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 other 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 three-month periods ended March 31, 2023 and 2022, totaled $202 million and $203 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 made no cash payments for income tax to BHE for each of the three-month periods ended March 31, 2023 and 2022. |
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 (loss) before income tax expense (benefit) is as follows: Three-Month Period Ended March 31, 2023 Federal statutory income tax rate 21 % Effects of ratemaking (9) Income tax credits (2) Other 10 Effective income tax rate 20 % Effects of ratemaking is primarily attributable to the recognition of excess deferred income taxes related to the 2017 Tax Cuts and Jobs Act pursuant to an order issued by the PUCN effective January 1, 2021. Berkshire Hathaway includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, Nevada Power's provision for federal income tax has been computed on a separate return basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For the three-month periods ended March 31, 2023 and 2022, Nevada Power made no cash payments for federal income tax to BHE. |
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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % Effects of ratemaking (9) (7) Other 1 1 Effective income tax rate 13 % 15 % Effects of ratemaking is primarily attributable to the recognition of excess deferred income taxes related to the 2017 Tax Cuts and Jobs Act 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 separate return basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For the three-month periods ended March 31, 2023 and 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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % State income tax, net of federal income tax benefit 2 5 Equity interest 3 2 Effects of ratemaking — (4) Noncontrolling interest (10) (11) Other, net — 1 Effective income tax rate 16 % 14 % For the period ended March 31, 2023, Eastern Energy Gas' reconciliation of the federal statutory income tax rate to the effective income tax rate is driven primarily by an absence of tax on income attributable to Cove Point's 75% noncontrolling interest. |
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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % State income tax, net of federal income tax benefit 4 5 Effective income tax rate 25 % 26 % |
Employee Benefit Plans
Employee Benefit Plans | 3 Months Ended |
Mar. 31, 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 Ended March 31, 2023 2022 Pension: Service cost $ 4 $ 7 Interest cost 28 19 Expected return on plan assets (31) (27) Settlement (5) 2 Net amortization 4 4 Net periodic benefit cost $ — $ 5 Other postretirement: Service cost $ 1 $ 2 Interest cost 7 5 Expected return on plan assets (8) (7) Net amortization (1) — Net periodic benefit (credit) cost $ (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 March 31, 2023, $3 million and $1 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 Ended March 31, 2023 2022 Service cost $ 2 $ 4 Interest cost 14 10 Expected return on plan assets (19) (25) Net amortization 6 6 Net periodic benefit cost (credit) $ 3 $ (5) 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 March 31, 2023, £3 million, or $4 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 Ended March 31, 2023 2022 Pension: Interest cost $ 10 $ 7 Expected return on plan assets (12) (10) Net amortization 3 4 Net periodic benefit cost $ 1 $ 1 Other postretirement: Service cost $ — $ — Interest cost 3 2 Expected return on plan assets (3) (2) Net amortization (1) — Net periodic benefit credit $ (1) $ — |
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 Ended March 31, 2023 2022 Pension: Service cost $ 3 $ 5 Interest cost 8 5 Expected return on plan assets (8) (7) Settlement (5) 2 Net periodic benefit cost (credit) $ (2) $ 5 Other postretirement: Service cost $ 1 $ 2 Interest cost 3 2 Expected return on plan assets (4) (4) Net periodic benefit cost (credit) $ — $ — Amounts other than the service cost for pension and other postretirement benefit plans are recorded in Other, net in 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 March 31, 2023, $2 million and $1 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 5 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 March 31, 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. 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 March 31, December 31, 2023 2022 Qualified Pension Plan: Other non-current assets $ 44 $ 43 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (5) (5) Other Postretirement Plans: Other long-term liabilities (2) (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 $2 million and $3 million to the MidAmerican Energy Company Retirement Plan for the three-month periods ended March 31, 2023 and 2022, respectively, and $1 million to the MidAmerican Energy Company Welfare Benefit Plan for the three-month periods ended March 31, 2023 and 2022. 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 March 31, 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 $2 million and $3 million to the MidAmerican Energy Company Retirement Plan for the three-month periods ended March 31, 2023 and 2022, respectively, and $1 million to the MidAmerican Energy Company Welfare Benefit Plan for the three-month period ended March 31, 2022. 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 March 31, 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 | 3 Months Ended |
Mar. 31, 2023 | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations MidAmerican 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 three-month period ended March 31, 2023, MidAmerican Energy recorded an increase of $88 million for decommissioning its wind-generating facilities 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 three-month period ended March 31, 2023, MidAmerican Energy recorded an increase of $88 million for decommissioning its wind-generating facilities 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 6 of MidAmerican Energy's Notes to Financial Statements. |
Risk Management and Hedging Act
Risk Management and Hedging Activities | 3 Months Ended |
Mar. 31, 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 March 31, 2023 Not designated as hedging contracts (1) : Commodity assets $ 133 $ 15 $ 15 $ 3 $ 166 Commodity liabilities (7) (7) (39) (4) (57) Total 126 8 (24) (1) 109 Total derivatives 126 8 (24) (1) 109 Cash collateral payable (12) — — — (12) Total derivatives - net basis $ 114 $ 8 $ (24) $ (1) $ 97 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 March 31, 2023, a regulatory liability of $109 million was recorded related to the net derivative asset of $109 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 Ended March 31, 2023 2022 Beginning balance $ (270) $ (53) Changes in fair value recognized in regulatory (liabilities) assets (10) (168) Net losses reclassified to operating revenue (6) (3) Net gains reclassified to energy costs 177 29 Ending balance $ (109) $ (195) 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 March 31, December 31, Measure 2023 2022 Electricity purchases, net Megawatt hours 3 2 Natural gas purchases Decatherms 158 127 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 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 PacifiCorp's creditworthiness. These rights can vary by contract and by counterparty. As of March 31, 2023, PacifiCorp'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 PacifiCorp's derivative contracts in liability positions with specific credit-risk-related contingent features totaled $56 million and $48 million as of March 31, 2023 and December 31, 2022, respectively, for which PacifiCorp had posted collateral of $— million, in the form of cash deposits. If all credit-risk-related contingent features for derivative contracts in liability positions had been triggered as of March 31, 2023 and December 31, 2022, PacifiCorp would have been required to post $20 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 March, 31 2023 Not designated as hedging contracts (1) : Commodity assets $ 4 $ — $ — $ 4 Commodity liabilities — (90) (30) (120) Total derivatives - net basis $ 4 $ (90) $ (30) $ (116) 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 March 31, 2023 a regulatory asset of $116 million was recorded related to the net derivative liability of $116 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 March 31, December 31, Measure 2023 2022 Electricity purchases Megawatt hours 2 2 Natural gas purchases Decatherms 155 109 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 March 31, 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 7 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 March, 31 2023 Not designated as hedging contracts (1) : Commodity assets $ 1 $ — $ — $ 1 Commodity liabilities — (27) (7) (34) Total derivatives - net basis $ 1 $ (27) $ (7) $ (33) 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 March 31, 2023 a net regulatory asset of $33 million was recorded related to the net derivative liability of $33 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 March 31, December 31, Measure 2023 2022 Electricity purchases Megawatt hours 1 1 Natural gas purchases Decatherms 67 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 March 31, 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. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 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 March 31, 2023: Assets: Commodity derivatives $ 3 $ 280 $ 16 $ (65) $ 234 Interest rate derivatives 42 43 16 — 101 Mortgage loans held for sale — 650 — — 650 Money market mutual funds 671 — — — 671 Debt securities: U.S. government obligations 3,079 — — — 3,079 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 4 — — 4 Equity securities: U.S. companies 385 — — — 385 International companies 3,329 — — — 3,329 Investment funds 278 — — — 278 $ 7,787 $ 1,048 $ 32 $ (65) $ 8,802 Liabilities: Commodity derivatives $ (8) $ (92) $ (166) $ 52 $ (214) Foreign currency exchange rate derivatives — (20) — — (20) Interest rate derivatives — (5) (1) 1 (5) $ (8) $ (117) $ (167) $ 53 $ (239) 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 payable of $12 million and $87 million as of March 31, 2023 and December 31, 2022, respectively. 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 Ended March 31, Interest Commodity Rate Derivatives Derivatives 2023: Beginning balance $ (59) $ 6 Changes included in earnings (1) 9 9 Changes in fair value recognized in OCI (3) — Changes in fair value recognized in net regulatory assets (98) — Settlements 1 — Ending balance $ (150) $ 15 2022: Beginning balance $ (151) $ 19 Changes included in earnings (1) (56) (6) Changes in fair value recognized in OCI 5 — Changes in fair value recognized in net regulatory assets (60) — Settlements 23 — Ending balance $ (239) $ 13 (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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 51,150 $ 47,805 $ 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 March 31, 2023: Assets: Commodity derivatives $ — $ 166 $ — $ (44) $ 122 Money market mutual funds 44 — — — 44 Investment funds 28 — — — 28 $ 72 $ 166 $ — $ (44) $ 194 Liabilities - Commodity derivatives $ — $ (57) $ — $ 32 $ (25) 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 $12 million and $78 million as of March 31, 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 9,658 $ 9,350 $ 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 March 31, 2023: Assets: Commodity derivatives $ 2 $ 7 $ — $ (5) $ 4 Money market mutual funds 67 — — — 67 Debt securities: U.S. government obligations 225 — — — 225 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 4 — — 4 Equity securities: U.S. companies 385 — — — 385 International companies 8 — — — 8 Investment funds 22 — — — 22 $ 709 $ 82 $ — $ (5) $ 786 Liabilities - commodity derivatives $ — $ (10) $ (5) $ 10 $ (5) 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 $5 million and $— million as of March 31, 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 Ended March 31, 2023 2022 Beginning balance $ 5 $ (5) Changes in fair value recognized in net regulatory assets (13) 13 Settlements 3 (4) Ending balance $ (5) $ 4 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 7,722 $ 7,127 $ 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 7 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 7,962 $ 7,386 $ 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 March 31, 2023: Assets: Commodity derivatives $ — $ — $ 4 $ 4 Money market mutual funds 21 — — 21 Investment funds 3 — — 3 $ 24 $ — $ 4 $ 28 Liabilities - commodity derivatives $ — $ — $ (120) $ (120) 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 March 31, 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 Ended March 31, 2023 2022 Beginning balance $ (52) $ (113) Changes in fair value recognized in regulatory assets (65) (56) Settlements 1 1 Ending balance $ (116) $ (168) 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,195 $ 3,241 $ 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 March 31, 2023: Assets: Commodity derivatives $ — $ — $ 1 $ 1 Money market mutual funds 7 — — 7 Investment funds 1 — — 1 $ 8 $ — $ 1 $ 9 Liabilities - commodity derivatives $ — $ — $ (34) $ (34) 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 March 31, 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 Ended March 31, 2023 2022 Beginning balance $ (13) $ (33) Changes in fair value recognized in regulatory assets (20) (19) Ending balance $ (33) $ (52) 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,148 $ 1,148 $ 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 March 31, 2023: Assets: Money market mutual funds $ 95 $ — $ — $ 95 Equity securities: Investment funds 17 — — 17 $ 112 $ — $ — $ 112 Liabilities: Foreign currency exchange rate derivatives $ — $ (20) $ — $ (20) $ — $ (20) $ — $ (20) 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,897 $ 3,604 $ 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 March 31, 2023: Assets: Money market mutual funds $ 40 $ — $ — $ 40 Equity securities: Investment funds 17 — — 17 $ 57 $ — $ — $ 57 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 1,582 $ 1,393 $ 1,582 $ 1,337 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 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 In April 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 three-month period ended March 31, 2023, MidAmerican Energy entered into firm construction commitments totaling $183 million for the remainder of 2023 through 2024 related to the construction of wind-powered generating facilities in Iowa. Fuel Contracts During the three-month period ended March 31, 2023, PacifiCorp entered into certain coal supply and transportation agreements totaling $247 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 is anticipated to begin in 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 arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. The Company does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. The Company is also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines, penalties and other costs in substantial amounts and are described below. Wildfire Liability Overview A provision for a loss contingency is recorded when it is probable that a liability has been incurred 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. 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 proximately caused by negligence, including real and personal property and natural resource damages; fire suppression costs; personal injury and loss of life damages; and interest. 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. Fire suppression costs estimated by various agencies total approximately $150 million. Investigations into the cause and origin of each wildfire are complex and ongoing and 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 have been filed in Oregon and California, including a class action complaint in Oregon, on behalf of plaintiffs related to the 2020 Wildfires. The plaintiffs seek damages that include property damages, economic losses, punitive damages, exemplary damages, attorneys' fees and other damages. Additionally, several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. Final determinations of liability, however, will only be made following the completion of comprehensive investigations and litigation processes. Based on the facts and circumstances available to PacifiCorp as of the date of this filing, which includes the status of litigation and recent settlements, PacifiCorp has accrued cumulative estimated probable losses associated with the 2020 Wildfires of $877 million through March 31, 2023. PacifiCorp's cumulative accrual includes estimates of losses for fire suppression costs, real and personal property damages, natural resource damages for certain areas and noneconomic damages such as personal injury damages and loss of life damages that are considered probable of being incurred and that it is reasonably able to estimate at this time. For certain aspects of the 2020 Wildfires for which loss is considered probable, information necessary to reasonably estimate the potential losses, such as those related to certain areas of natural resource damages, is not currently available. It is reasonably possible PacifiCorp will incur additional losses beyond the amounts accrued; however, PacifiCorp is currently unable to estimate the range of possible additional losses that could be incurred due to the number of properties and parties involved and the variation in those types of properties and lack of available details. To the extent losses beyond the amounts accrued are incurred, additional insurance coverage is expected to be available to cover a portion of the losses. The following table presents changes in PacifiCorp's liability for estimated losses associated with the 2020 Wildfires (in millions): Three-Month Periods Ended March 31, 2023 2022 Beginning balance $ 424 $ 252 Accrued losses 400 — Ending balance $ 824 $ 252 PacifiCorp's receivable for expected insurance recoveries associated with the probable losses was $287 million and $246 million, respectively, as of March 31, 2023 and December 31, 2022. During the three-month periods ended March 31, 2023 and 2022 PacifiCorp recognized probable losses net of expected insurance recoveries associated with the 2020 Wildfires of $359 million and $— million, respectively, and are recorded in operations and maintenance on the Consolidated Statements of Operations. 2022 McKinney Fire According to the California Department of Forestry and Fire Protection, on July 29, 2022, a wildfire began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California (the "2022 McKinney Fire") 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. Due to the preliminary nature of the investigation PacifiCorp does not believe a loss is probable and therefore has not accrued any loss as of the date of this filing. While the loss is not probable, PacifiCorp estimates the potential loss, excluding losses for natural resource damages, to be $31 million, net of expected insurance recoveries. The loss estimate includes PacifiCorp's estimate of losses for fire suppression costs; real and personal property damages; and noneconomic damages such as personal injury damages and loss of life damages. PacifiCorp is unable to estimate the total potential loss, including losses for natural resource damages, because there are a number of unknown facts and legal considerations that may impact the amount of any potential liability, including the total scope and nature of claims that may be asserted against PacifiCorp. PacifiCorp has insurance available and estimates the potential insurance recoveries to be $103 million, to cover potential losses. 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 that include property damages, economic and noneconomic losses, punitive damages, exemplary damages, attorneys' fees and other damages but the amount of damages sought are not specified. Final determinations of liability, however, will only be made following the completion of comprehensive investigations and litigation processes. Guarantees The Company has entered into guarantees as part of the normal course of business and the sale 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 In April 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 three-month period ended March 31, 2023, PacifiCorp entered into certain coal supply and transportation agreements totaling $247 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 is anticipated to begin in 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 arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. PacifiCorp does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. PacifiCorp is also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines, penalties and other costs in substantial amounts and are described below. Wildfires Overview A provision for a loss contingency is recorded when it is probable that a liability has been incurred 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. 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 proximately caused by negligence, including real and personal property and natural resource damages; fire suppression costs; personal injury and loss of life damages; and interest. 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. Fire suppression costs estimated by various agencies total approximately $150 million. Investigations into the cause and origin of each wildfire are complex and ongoing and 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 have been filed in Oregon and California, including a class action complaint in Oregon, on behalf of plaintiffs related to the 2020 Wildfires. The plaintiffs seek damages that include property damages, economic losses, punitive damages, exemplary damages, attorneys' fees and other damages. Additionally, several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. Final determinations of liability, however, will only be made following the completion of comprehensive investigations and litigation processes. Based on the facts and circumstances available to PacifiCorp as of the date of this filing, which includes the status of litigation and recent settlements, PacifiCorp has accrued cumulative estimated probable losses associated with the 2020 Wildfires of $877 million through March 31, 2023. PacifiCorp's cumulative accrual includes estimates of losses for fire suppression costs, real and personal property damages, natural resource damages for certain areas and noneconomic damages such as personal injury damages and loss of life damages that are considered probable of being incurred and that it is reasonably able to estimate at this time. For certain aspects of the 2020 Wildfires for which loss is considered probable, information necessary to reasonably estimate the potential losses, such as those related to certain areas of natural resource damages, is not currently available. It is reasonably possible PacifiCorp will incur additional losses beyond the amounts accrued; however, PacifiCorp is currently unable to estimate the range of possible additional losses that could be incurred due to the number of properties and parties involved and the variation in those types of properties and lack of available details. To the extent losses beyond the amounts accrued are incurred, additional insurance coverage is expected to be available to cover a portion of the losses. The following table presents changes in PacifiCorp's liability for estimated losses associated with the 2020 Wildfires (in millions): Three-Month Periods Ended March 31, 2023 2022 Beginning balance $ 424 $ 252 Accrued losses 400 — Ending balance $ 824 $ 252 PacifiCorp's receivable for expected insurance recoveries associated with the probable losses was $287 million and $246 million, respectively, as of March 31, 2023 and December 31, 2022. During the three-month periods ended March 31, 2023 and 2022, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the 2020 Wildfires of $359 million and $— million, respectively, and are recorded in operations and maintenance on the Consolidated Statements of Operations. 2022 McKinney Fire According to the California Department of Forestry and Fire Protection, on July 29, 2022, a wildfire began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California (the "2022 McKinney Fire") 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. Due to the preliminary nature of the investigation PacifiCorp does not believe a loss is probable and therefore has not accrued any loss as of the date of this filing. While the loss is not probable, PacifiCorp estimates the potential loss, excluding losses for natural resource damages, to be $31 million, net of expected insurance recoveries. The loss estimate includes PacifiCorp's estimate of losses for fire suppression costs; real and personal property damages; and noneconomic damages such as personal injury damages and loss of life damages. PacifiCorp is unable to estimate the total potential loss, including losses for natural resource damages, because there are a number of unknown facts and legal considerations that may impact the amount of any potential liability, including the total scope and nature of claims that may be asserted against PacifiCorp. PacifiCorp has insurance available and estimates the potential insurance recoveries to be $103 million, to cover potential losses. 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 that include property damages, economic and noneconomic losses, punitive damages, exemplary damages, attorneys' fees and other damages but the amount of damages sought are not specified. Final determinations of liability, however, will only be made following the completion of comprehensive investigations and litigation processes. 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 three-month period ended March 31, 2023, MidAmerican Energy entered into firm construction commitments totaling $183 million for the remainder of 2023 through 2024 related to the construction 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. Plaintiffs occasionally seek punitive or exemplary damages. 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. Plaintiffs occasionally seek punitive or exemplary damages. MidAmerican Funding does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. Refer to Note 8 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. Plaintiffs occasionally seek punitive or exemplary damages. 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. Plaintiffs occasionally seek punitive or exemplary damages. 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. Plaintiffs occasionally seek punitive or exemplary damages. 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. Plaintiffs occasionally seek punitive or exemplary damages. 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 | 3 Months Ended |
Mar. 31, 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 12 (in millions): For the Three-Month Period Ended March 31, 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 $ 1,349 $ 491 $ 848 $ — $ — $ — $ — $ — $ 2,688 Retail gas — 296 96 — — — — — 392 Wholesale 61 100 31 — — — — (1) 191 Transmission and 38 14 18 281 — 165 — — 516 Interstate pipeline — — — — 878 — — (56) 822 Other 32 — — — 2 — — — 34 Total Regulated 1,480 901 993 281 880 165 — (57) 4,643 Nonregulated — 3 1 45 266 40 305 — 660 Total Customer Revenue 1,480 904 994 326 1,146 205 305 (57) 5,303 Other revenue 4 16 5 28 27 — 88 — 168 Total $ 1,484 $ 920 $ 999 $ 354 $ 1,173 $ 205 $ 393 $ (57) $ 5,471 For the Three-Month Period Ended March 31, 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 $ 1,185 $ 472 $ 599 $ — $ — $ — $ — $ — $ 2,256 Retail gas — 337 51 — — — — — 388 Wholesale 55 161 20 — — — — — 236 Transmission and 32 15 17 269 — 176 — — 509 Interstate pipeline — — — — 745 — — (41) 704 Other 20 — 1 — 1 — — — 22 Total Regulated 1,292 985 688 269 746 176 — (41) 4,115 Nonregulated — 2 — 15 278 7 302 — 604 Total Customer Revenue 1,292 987 688 284 1,024 183 302 (41) 4,719 Other revenue 5 18 5 31 11 — 34 — 104 Total $ 1,297 $ 1,005 $ 693 $ 315 $ 1,035 $ 183 $ 336 $ (41) $ 4,823 (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 Ended March 31, 2023 2022 Customer Revenue: Brokerage $ 799 $ 1,092 Franchise 12 20 Total Customer Revenue 811 1,112 Mortgage and other revenue 64 95 Total $ 875 $ 1,207 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 March 31, 2023, by reportable segment (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total BHE Pipeline Group $ 2,786 $ 20,146 $ 22,932 BHE Transmission 490 — 490 Total $ 3,276 $ 20,146 $ 23,422 |
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 Ended March 31, 2023 2022 Customer Revenue: Retail: Residential $ 585 $ 505 Commercial 430 370 Industrial 290 273 Other retail 44 37 Total retail 1,349 1,185 Wholesale 61 55 Transmission 38 32 Other Customer Revenue 32 20 Total Customer Revenue 1,480 1,292 Other revenue 4 5 Total operating revenue $ 1,484 $ 1,297 |
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 11 (in millions): For the Three-Month Period Ended March 31, 2023 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 167 $ 199 $ — $ 366 Commercial 75 78 — 153 Industrial 214 7 — 221 Natural gas transportation services — 13 — 13 Other retail 35 (1) — 34 Total retail 491 296 — 787 Wholesale 71 29 — 100 Multi-value transmission projects 14 — — 14 Other Customer Revenue — — 3 3 Total Customer Revenue 576 325 3 904 Other revenue 15 1 — 16 Total operating revenue $ 591 $ 326 $ 3 $ 920 For the Three-Month Period Ended March 31, 2022 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 168 $ 225 $ — $ 393 Commercial 74 88 — 162 Industrial 198 9 — 207 Natural gas transportation services — 14 — 14 Other retail 32 1 — 33 Total retail 472 337 — 809 Wholesale 104 58 — 162 Multi-value transmission projects 15 — — 15 Other Customer Revenue — — 1 1 Total Customer Revenue 591 395 1 987 Other revenue 17 1 — 18 Total operating revenue $ 608 $ 396 $ 1 $ 1,005 |
MidAmerican Funding, LLC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with CustomersRefer to Note 9 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 Ended March 31, 2023 2022 Customer Revenue: Retail: Residential $ 293 $ 214 Commercial 136 96 Industrial 138 78 Other 6 1 Total fully bundled 573 389 Distribution only service 3 5 Total retail 576 394 Wholesale, transmission and other 18 16 Total Customer Revenue 594 410 Other revenue 5 5 Total operating revenue $ 599 $ 415 |
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 10 (in millions): Three-Month Periods Ended March 31, 2023 2022 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 115 $ 60 $ 175 $ 85 $ 32 $ 117 Commercial 91 27 118 70 15 85 Industrial 63 9 72 49 4 53 Other 2 — 2 1 — 1 Total fully bundled 271 96 367 205 51 256 Distribution only service 1 — 1 1 — 1 Total retail 272 96 368 206 51 257 Wholesale, transmission and other 32 — 32 21 — 21 Total Customer Revenue 304 96 400 227 51 278 Other revenue — — — — 1 1 Total operating revenue $ 304 $ 96 $ 400 $ 227 $ 52 $ 279 |
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 Ended March 31, 2023 2022 Customer Revenue: Regulated: Gas transmission and storage $ 332 $ 285 Other 2 — Total regulated 334 285 Nonregulated 217 203 Total Customer Revenue 551 488 Other revenue (1) 2 (6) Total operating revenue $ 553 $ 482 (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 $70 million and $80 million as of March 31, 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 three-month period ended March 31, 2023, Eastern Energy Gas recognized revenue of $22 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 March 31, 2023 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,657 $ 15,340 $ 16,997 |
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 Ended March 31, 2023 2022 Customer Revenue: Regulated: Gas transmission $ 191 $ 165 Gas storage 67 47 Other 2 — Total regulated 260 212 Management service and other revenues 17 18 Total Customer Revenue 277 230 Other revenue (1) 1 (7) Total operating revenue $ 278 $ 223 (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 March 31, 2023 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total EGTS $ 746 $ 3,390 $ 4,136 |
Shareholder's Equity
Shareholder's Equity | 3 Months Ended |
Mar. 31, 2023 | |
MEC | |
Class of Stock [Line Items] | |
Shareholder's Equity | Shareholder's Equity In January 2023, MidAmerican Energy paid $100 million in cash dividends to its parent company, MHC. |
Member's Equity
Member's Equity | 3 Months Ended |
Mar. 31, 2023 | |
MidAmerican Funding, LLC | |
Class of Stock [Line Items] | |
Member's Equity | Member's Equity In January 2023, MidAmerican Funding paid a $100 million cash distribution to its parent company, BHE. |
Components of Accumulated Other
Components of Accumulated Other Comprehensive Loss, Net | 3 Months Ended |
Mar. 31, 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) 15 (110) 77 — (18) Balance, March 31, 2022 $ (303) $ (1,196) $ 136 $ 5 $ (1,358) Balance, December 31, 2022 $ (390) $ (1,896) $ 135 $ 2 $ (2,149) Other comprehensive (loss) income (4) 99 (55) — 40 Balance, March 31, 2023 $ (394) $ (1,797) $ 80 $ 2 $ (2,109) |
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, March 31, 2022 $ (5) $ (38) $ 5 $ (38) Balance, December 31, 2022 $ (1) $ (43) $ 2 $ (42) Other comprehensive loss (1) (2) — (3) Balance, March 31, 2023 $ (2) $ (45) $ 2 $ (45) |
Segment Information
Segment Information | 3 Months Ended |
Mar. 31, 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 Ended March 31, 2023 2022 Operating revenue: PacifiCorp $ 1,484 $ 1,297 MidAmerican Funding 920 1,005 NV Energy 999 693 Northern Powergrid 354 315 BHE Pipeline Group 1,173 1,035 BHE Transmission 205 183 BHE Renewables 393 336 HomeServices 875 1,207 BHE and Other (1) (57) (41) Total operating revenue $ 6,346 $ 6,030 Depreciation and amortization: PacifiCorp $ 279 $ 280 MidAmerican Funding 234 250 NV Energy 152 140 Northern Powergrid 85 80 BHE Pipeline Group 172 131 BHE Transmission 61 58 BHE Renewables 66 66 HomeServices 13 15 BHE and Other (1) 1 2 Total depreciation and amortization $ 1,063 $ 1,022 Three-Month Periods Ended March 31, 2023 2022 Operating income: PacifiCorp $ (167) $ 216 MidAmerican Funding 88 100 NV Energy 57 62 Northern Powergrid 146 159 BHE Pipeline Group 584 538 BHE Transmission 88 83 BHE Renewables (69) 54 HomeServices (45) 28 BHE and Other (1) (15) (4) Total operating income 667 1,236 Interest expense (586) (532) Capitalized interest 24 17 Allowance for equity funds 49 38 Interest and dividend income 86 23 Gains (losses) on marketable securities, net 699 (1,257) Other, net 40 5 Total income (loss) before income tax expense (benefit) and equity income (loss) $ 979 $ (470) Interest expense: PacifiCorp $ 124 $ 106 MidAmerican Funding 84 82 NV Energy 63 51 Northern Powergrid 30 32 BHE Pipeline Group 39 37 BHE Transmission 37 38 BHE Renewables 45 42 HomeServices 4 1 BHE and Other (1) 160 143 Total interest expense $ 586 $ 532 Earnings (loss) on common shares: PacifiCorp $ (120) $ 130 MidAmerican Funding 249 241 NV Energy 34 29 Northern Powergrid 11 111 BHE Pipeline Group 369 322 BHE Transmission 64 62 BHE Renewables 79 145 HomeServices (34) 21 BHE and Other (1) 329 (1,206) Total earnings (loss) on common shares $ 981 $ (145) As of March 31, December 31, 2023 2022 Assets: PacifiCorp $ 30,268 $ 30,559 MidAmerican Funding 25,899 26,077 NV Energy 17,210 16,676 Northern Powergrid 9,216 9,005 BHE Pipeline Group 20,931 21,005 BHE Transmission 9,380 9,334 BHE Renewables 11,693 12,632 HomeServices 3,625 3,436 BHE and Other (1) 6,232 5,116 Total assets $ 134,454 $ 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 Ended March 31, 2023 2022 Operating revenue by country: U.S. $ 5,815 $ 5,534 United Kingdom 333 315 Canada 177 181 Australia 21 — Total operating revenue by country $ 6,346 $ 6,030 Income (loss) before income tax expense (benefit) and equity income (loss) by country: U.S. $ 819 $ (654) United Kingdom 113 139 Canada 43 46 Australia 5 — Other (1) (1) Total income (loss) before income tax expense (benefit) and equity income (loss) by country $ 979 $ (470) The following table shows the change in the carrying amount of goodwill by reportable segment for the three-month period ended March 31, 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 Foreign currency translation — — — 13 — 1 — — 14 March 31, 2023 $ 1,129 $ 2,102 $ 2,369 $ 930 $ 1,814 $ 1,462 $ 95 $ 1,602 $ 11,503 |
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 Ended March 31, 2023 2022 Operating revenue: Regulated electric $ 591 $ 608 Regulated natural gas 326 396 Other 3 1 Total operating revenue $ 920 $ 1,005 Operating income: Regulated electric $ 50 $ 51 Regulated natural gas 38 49 Total operating income 88 100 Interest expense (80) (78) Allowance for borrowed funds 4 4 Allowance for equity funds 11 15 Other, net 16 (3) Total income before income tax expense (benefit) $ 39 $ 38 As of March 31, December 31, Assets: Regulated electric $ 22,091 $ 22,092 Regulated natural gas 1,716 1,885 Other — 1 Total assets $ 23,807 $ 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 Ended March 31, 2023 2022 Operating revenue: Regulated electric $ 591 $ 608 Regulated natural gas 326 396 Other 3 1 Total operating revenue $ 920 $ 1,005 Operating income: Regulated electric $ 50 $ 51 Regulated natural gas 38 49 Total operating income 88 100 Interest expense (84) (82) Allowance for borrowed funds 4 4 Allowance for equity funds 11 15 Other, net 28 (4) Total income before income tax expense (benefit) $ 47 $ 33 As of March 31, December 31, Assets (1) : Regulated electric $ 23,282 $ 23,283 Regulated natural gas 1,795 1,963 Other 10 8 Total assets $ 25,087 $ 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 Ended March 31, 2023 2022 Operating revenue: Regulated electric $ 304 $ 227 Regulated natural gas 96 52 Total operating revenue $ 400 $ 279 Operating income: Regulated electric $ 25 $ 30 Regulated natural gas 10 8 Total operating income 35 38 Interest expense (16) (13) Allowance for borrowed funds 2 1 Allowance for equity funds 2 2 Interest and dividend income 7 3 Other, net 1 2 Total income before income tax expense (benefit) $ 31 $ 33 As of March 31, December 31, 2023 2022 Assets: Regulated electric $ 4,193 $ 4,224 Regulated natural gas 460 441 Other (1) 30 67 Total assets $ 4,683 $ 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) | 3 Months Ended |
Mar. 31, 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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. |
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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income materially equals comprehensive income for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 March 31, 2023, and for the three-month periods ended March 31, 2023 and 2022. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 March 31, 2023 and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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 March 31, 2023 and for the three-month periods ended March 31, 2023 and 2022. The results of operations for the three-month period ended March 31, 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) | 3 Months Ended |
Mar. 31, 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 963 $ 1,591 Investments and restricted cash and cash equivalents 133 173 Investments and restricted cash and cash equivalents and investments 59 53 Total cash and cash equivalents and restricted cash and cash equivalents $ 1,155 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 19 $ 641 Restricted cash and cash equivalents included in other current assets 8 7 Restricted cash included in other assets 31 26 Total cash and cash equivalents and restricted cash and cash equivalents $ 58 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 57 $ 258 Restricted cash and cash equivalents in other current assets 7 10 Total cash and cash equivalents and restricted cash and cash equivalents $ 64 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 58 $ 261 Restricted cash and cash equivalents in other current assets 6 10 Total cash and cash equivalents and restricted cash and cash equivalents $ 64 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 23 $ 43 Restricted cash and cash equivalents included in other current assets 19 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 42 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 8 $ 49 Restricted cash and cash equivalents included in other current assets 9 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 17 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 103 $ 65 Restricted cash and cash equivalents included in other current assets 31 30 Total cash and cash equivalents and restricted cash and cash equivalents $ 134 $ 95 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 3 Months Ended |
Mar. 31, 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 March 31, December 31, Life 2023 2022 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 93,123 $ 92,759 Interstate natural gas pipeline assets 3-80 years 18,492 18,328 111,615 111,087 Accumulated depreciation and amortization (35,395) (34,599) Regulated assets, net 76,220 76,488 Nonregulated assets: Independent power plants 2-50 years 8,514 8,545 Cove Point LNG facility 40 years 3,416 3,412 Other assets 2-30 years 2,680 2,693 14,610 14,650 Accumulated depreciation and amortization (3,493) (3,452) Nonregulated assets, net 11,117 11,198 87,337 87,686 Construction work-in-progress 6,246 5,357 Property, plant and equipment, net $ 93,583 $ 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 March 31, December 31, Depreciable Life 2023 2022 Utility plant: Generation 15 - 59 years $ 13,721 $ 13,726 Transmission 60 - 90 years 8,063 8,051 Distribution 20 - 75 years 8,578 8,477 Intangible plant (1) and other 5 - 75 years 2,758 2,755 Utility plant in-service 33,120 33,009 Accumulated depreciation and amortization (11,256) (11,093) Utility plant in-service, net 21,864 21,916 Nonregulated, net of accumulated depreciation and amortization 14 - 95 years 18 18 21,882 21,934 Construction work-in-progress 2,813 2,496 Property, plant and equipment, net $ 24,695 $ 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 March 31, December 31, Depreciable Life 2023 2022 Utility plant: Generation 20-62 years $ 18,385 $ 18,582 Transmission 55-80 years 2,672 2,662 Electric distribution 15-80 years 4,983 4,931 Natural gas distribution 30-75 years 2,166 2,144 Utility plant in-service 28,206 28,319 Accumulated depreciation and amortization (8,210) (8,024) Utility plant in-service, net 19,996 20,295 Nonregulated property, net of accumulated depreciation and amortization 20-50 years 6 6 20,002 20,301 Construction work-in-progress 979 790 Property, plant and equipment, net $ 20,981 $ 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 March 31, December 31, 2023 2022 Utility plant: Generation 30 - 55 years $ 3,977 $ 3,977 Transmission 45 - 70 years 1,569 1,562 Distribution 20 - 65 years 4,189 4,134 General and intangible plant 5 - 65 years 887 871 Utility plant 10,622 10,544 Accumulated depreciation and amortization (3,677) (3,624) Utility plant, net 6,945 6,920 Non-regulated, net of accumulated depreciation and amortization 45 years 1 1 6,946 6,921 Construction work-in-progress 703 485 Property, plant and equipment, net $ 7,649 $ 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 March 31, December 31, 2023 2022 Utility plant: Electric generation 25 - 70 years $ 1,301 $ 1,298 Electric transmission 50 - 76 years 995 993 Electric distribution 20 - 76 years 1,999 1,983 Electric general and intangible plant 5 - 65 years 221 219 Natural gas distribution 35 - 70 years 459 455 Natural gas general and intangible plant 5 - 65 years 16 15 Common general 5 - 65 years 380 380 Utility plant 5,371 5,343 Accumulated depreciation and amortization (2,024) (1,992) 3,347 3,351 Construction work-in-progress 275 236 Property, plant and equipment, net $ 3,622 $ 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 March 31, December 31, Depreciable Life 2023 2022 Utility plant: Interstate natural gas transmission and storage assets 21 - 52 years $ 9,053 $ 8,922 Intangible plant 5 - 18 years 116 113 Utility plant in-service 9,169 9,035 Accumulated depreciation and amortization (3,075) (3,039) Utility plant in-service, net 6,094 5,996 Nonutility plant: LNG facility 40 years 4,526 4,522 Intangible plant 14 years 25 25 Nonutility plant 4,551 4,547 Accumulated depreciation and amortization (574) (542) Nonutility plant, net 3,977 4,005 10,071 10,001 Construction work-in-progress 210 201 Property, plant and equipment, net $ 10,281 $ 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 March 31, December 31, Depreciable Life 2023 2022 Interstate natural gas transmission and storage assets 28 - 50 years $ 6,842 $ 6,724 Intangible plant 12 - 20 years 80 79 Plant in-service 6,922 6,803 Accumulated depreciation and amortization (2,465) (2,440) 4,457 4,363 Construction work-in-progress 147 141 Property, plant and equipment, net $ 4,604 $ 4,504 |
Investments and Restricted Ca_2
Investments and Restricted Cash and Cash Equivalents and Investments (Tables) | 3 Months Ended |
Mar. 31, 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 March 31, December 31, 2023 2022 Investments: BYD Company Limited common stock $ 3,321 $ 3,763 U.S. Treasury Bills 2,854 1,931 Rabbi trusts 449 433 Other 318 335 Total investments 6,942 6,462 Equity method investments: BHE Renewables tax equity investments 4,430 4,535 Electric Transmission Texas, LLC 641 623 Iroquois Gas Transmission System, L.P. 604 600 Other 352 304 Total equity method investments 6,027 6,062 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 696 664 Other restricted cash and cash equivalents 192 226 Total restricted cash and cash equivalents and investments 888 890 Total investments and restricted cash and cash equivalents and investments $ 13,857 $ 13,414 Reflected as: Other current assets $ 3,032 $ 2,141 Noncurrent assets 10,825 11,273 Total investments and restricted cash and cash equivalents and investments $ 13,857 $ 13,414 |
Unrealized Gain (Loss) on Investments | Gains (losses) on marketable securities, net recognized during the period consists of the following (in millions): Three-Month Periods Ended March 31, 2023 2022 Unrealized gains (losses) recognized on marketable securities held at the reporting date $ 529 $ (1,257) Net gains recognized on marketable securities sold during the period 170 — Gains (losses) on marketable securities, net $ 699 $ (1,257) |
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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 963 $ 1,591 Investments and restricted cash and cash equivalents 133 173 Investments and restricted cash and cash equivalents and investments 59 53 Total cash and cash equivalents and restricted cash and cash equivalents $ 1,155 $ 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 March 31, December 31, 2023 2022 Investments: Investment funds $ 17 $ 14 Equity method investments: Iroquois 268 264 Total investments 285 278 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 $ 316 $ 308 Reflected as: Current assets $ 31 $ 30 Noncurrent assets 285 278 Total investments and restricted cash and cash equivalents $ 316 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 103 $ 65 Restricted cash and cash equivalents included in other current assets 31 30 Total cash and cash equivalents and restricted cash and cash equivalents $ 134 $ 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 March 31, December 31, 2023 2022 Investments: Investment funds $ 17 $ 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 $ 46 $ 43 Reflected as: Current assets $ 29 $ 29 Noncurrent assets 17 14 Total investments and restricted cash and cash equivalents $ 46 $ 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 March 31, December 31, 2023 2022 Cash and cash equivalents $ 46 $ 16 Restricted cash and cash equivalents 29 29 Total cash and cash equivalents and restricted cash and cash equivalents $ 75 $ 45 |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % Income tax credits (35) 72 State income tax, net of federal income tax impacts (4) (3) Income tax effect of foreign income 7 3 Effects of ratemaking (3) 8 Equity income (1) 3 Noncontrolling interest (2) 5 Other, net — (1) Effective income tax rate (17) % 108 % |
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 (loss) income before income tax expense (benefit) is as follows: Three-Month Periods Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % State income tax, net of federal income tax benefit 4 3 Federal income tax credits 13 (20) Effects of ratemaking (1) 6 (11) Valuation allowance 5 6 Other (1) 3 Effective income tax rate 48 % 2 % (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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % Income tax credits (518) (534) State income tax, net of federal income tax impacts (18) (21) Effects of ratemaking (8) (8) Other, net 2 — Effective income tax rate (521) % (542) % |
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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % Income tax credits (430) (618) State income tax, net of federal income tax impacts (13) (24) Effects of ratemaking (6) (9) Other, net (2) — Effective income tax rate (430) % (630) % |
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 (loss) before income tax expense (benefit) is as follows: Three-Month Period Ended March 31, 2023 Federal statutory income tax rate 21 % Effects of ratemaking (9) Income tax credits (2) Other 10 Effective income tax rate 20 % |
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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % Effects of ratemaking (9) (7) Other 1 1 Effective income tax rate 13 % 15 % |
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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % State income tax, net of federal income tax benefit 2 5 Equity interest 3 2 Effects of ratemaking — (4) Noncontrolling interest (10) (11) Other, net — 1 Effective income tax rate 16 % 14 % |
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 Ended March 31, 2023 2022 Federal statutory income tax rate 21 % 21 % State income tax, net of federal income tax benefit 4 5 Effective income tax rate 25 % 26 % |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 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 Ended March 31, 2023 2022 Pension: Service cost $ 4 $ 7 Interest cost 28 19 Expected return on plan assets (31) (27) Settlement (5) 2 Net amortization 4 4 Net periodic benefit cost $ — $ 5 Other postretirement: Service cost $ 1 $ 2 Interest cost 7 5 Expected return on plan assets (8) (7) Net amortization (1) — Net periodic benefit (credit) cost $ (1) $ — Net periodic benefit cost (credit) for the United Kingdom pension plan included the following components (in millions): Three-Month Periods Ended March 31, 2023 2022 Service cost $ 2 $ 4 Interest cost 14 10 Expected return on plan assets (19) (25) Net amortization 6 6 Net periodic benefit cost (credit) $ 3 $ (5) |
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 Ended March 31, 2023 2022 Pension: Interest cost $ 10 $ 7 Expected return on plan assets (12) (10) Net amortization 3 4 Net periodic benefit cost $ 1 $ 1 Other postretirement: Service cost $ — $ — Interest cost 3 2 Expected return on plan assets (3) (2) Net amortization (1) — Net periodic benefit credit $ (1) $ — |
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 Ended March 31, 2023 2022 Pension: Service cost $ 3 $ 5 Interest cost 8 5 Expected return on plan assets (8) (7) Settlement (5) 2 Net periodic benefit cost (credit) $ (2) $ 5 Other postretirement: Service cost $ 1 $ 2 Interest cost 3 2 Expected return on plan assets (4) (4) Net periodic benefit cost (credit) $ — $ — |
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 March 31, 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 March 31, December 31, 2023 2022 Qualified Pension Plan: Other non-current assets $ 44 $ 43 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (5) (5) Other Postretirement Plans: Other long-term liabilities (2) (2) |
Risk Management and Hedging A_2
Risk Management and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 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 March 31, December 31, Measure 2023 2022 Electricity purchases Megawatt hours 1 1 Natural gas purchases Decatherms 67 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 March 31, 2023 Not designated as hedging contracts (1) : Commodity assets $ 133 $ 15 $ 15 $ 3 $ 166 Commodity liabilities (7) (7) (39) (4) (57) Total 126 8 (24) (1) 109 Total derivatives 126 8 (24) (1) 109 Cash collateral payable (12) — — — (12) Total derivatives - net basis $ 114 $ 8 $ (24) $ (1) $ 97 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 March 31, 2023, a regulatory liability of $109 million was recorded related to the net derivative asset of $109 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 Ended March 31, 2023 2022 Beginning balance $ (270) $ (53) Changes in fair value recognized in regulatory (liabilities) assets (10) (168) Net losses reclassified to operating revenue (6) (3) Net gains reclassified to energy costs 177 29 Ending balance $ (109) $ (195) |
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 March 31, December 31, Measure 2023 2022 Electricity purchases, net Megawatt hours 3 2 Natural gas purchases Decatherms 158 127 |
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 March, 31 2023 Not designated as hedging contracts (1) : Commodity assets $ 4 $ — $ — $ 4 Commodity liabilities — (90) (30) (120) Total derivatives - net basis $ 4 $ (90) $ (30) $ (116) 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 March 31, 2023 a regulatory asset of $116 million was recorded related to the net derivative liability of $116 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 March 31, December 31, Measure 2023 2022 Electricity purchases Megawatt hours 2 2 Natural gas purchases Decatherms 155 109 |
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 March, 31 2023 Not designated as hedging contracts (1) : Commodity assets $ 1 $ — $ — $ 1 Commodity liabilities — (27) (7) (34) Total derivatives - net basis $ 1 $ (27) $ (7) $ (33) 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 March 31, 2023 a net regulatory asset of $33 million was recorded related to the net derivative liability of $33 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) | 3 Months Ended |
Mar. 31, 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 March 31, 2023: Assets: Commodity derivatives $ 3 $ 280 $ 16 $ (65) $ 234 Interest rate derivatives 42 43 16 — 101 Mortgage loans held for sale — 650 — — 650 Money market mutual funds 671 — — — 671 Debt securities: U.S. government obligations 3,079 — — — 3,079 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 4 — — 4 Equity securities: U.S. companies 385 — — — 385 International companies 3,329 — — — 3,329 Investment funds 278 — — — 278 $ 7,787 $ 1,048 $ 32 $ (65) $ 8,802 Liabilities: Commodity derivatives $ (8) $ (92) $ (166) $ 52 $ (214) Foreign currency exchange rate derivatives — (20) — — (20) Interest rate derivatives — (5) (1) 1 (5) $ (8) $ (117) $ (167) $ 53 $ (239) 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 payable of $12 million and $87 million as of March 31, 2023 and December 31, 2022, respectively. |
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 Ended March 31, Interest Commodity Rate Derivatives Derivatives 2023: Beginning balance $ (59) $ 6 Changes included in earnings (1) 9 9 Changes in fair value recognized in OCI (3) — Changes in fair value recognized in net regulatory assets (98) — Settlements 1 — Ending balance $ (150) $ 15 2022: Beginning balance $ (151) $ 19 Changes included in earnings (1) (56) (6) Changes in fair value recognized in OCI 5 — Changes in fair value recognized in net regulatory assets (60) — Settlements 23 — Ending balance $ (239) $ 13 (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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 51,150 $ 47,805 $ 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 March 31, 2023: Assets: Commodity derivatives $ — $ 166 $ — $ (44) $ 122 Money market mutual funds 44 — — — 44 Investment funds 28 — — — 28 $ 72 $ 166 $ — $ (44) $ 194 Liabilities - Commodity derivatives $ — $ (57) $ — $ 32 $ (25) 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 $12 million and $78 million as of March 31, 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 9,658 $ 9,350 $ 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 March 31, 2023: Assets: Commodity derivatives $ 2 $ 7 $ — $ (5) $ 4 Money market mutual funds 67 — — — 67 Debt securities: U.S. government obligations 225 — — — 225 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 4 — — 4 Equity securities: U.S. companies 385 — — — 385 International companies 8 — — — 8 Investment funds 22 — — — 22 $ 709 $ 82 $ — $ (5) $ 786 Liabilities - commodity derivatives $ — $ (10) $ (5) $ 10 $ (5) 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 $5 million and $— million as of March 31, 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 Ended March 31, 2023 2022 Beginning balance $ 5 $ (5) Changes in fair value recognized in net regulatory assets (13) 13 Settlements 3 (4) Ending balance $ (5) $ 4 |
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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 7,722 $ 7,127 $ 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 7,962 $ 7,386 $ 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 March 31, 2023: Assets: Commodity derivatives $ — $ — $ 4 $ 4 Money market mutual funds 21 — — 21 Investment funds 3 — — 3 $ 24 $ — $ 4 $ 28 Liabilities - commodity derivatives $ — $ — $ (120) $ (120) 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 Ended March 31, 2023 2022 Beginning balance $ (52) $ (113) Changes in fair value recognized in regulatory assets (65) (56) Settlements 1 1 Ending balance $ (116) $ (168) |
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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,195 $ 3,241 $ 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 March 31, 2023: Assets: Commodity derivatives $ — $ — $ 1 $ 1 Money market mutual funds 7 — — 7 Investment funds 1 — — 1 $ 8 $ — $ 1 $ 9 Liabilities - commodity derivatives $ — $ — $ (34) $ (34) 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 Ended March 31, 2023 2022 Beginning balance $ (13) $ (33) Changes in fair value recognized in regulatory assets (20) (19) Ending balance $ (33) $ (52) |
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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,148 $ 1,148 $ 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 March 31, 2023: Assets: Money market mutual funds $ 95 $ — $ — $ 95 Equity securities: Investment funds 17 — — 17 $ 112 $ — $ — $ 112 Liabilities: Foreign currency exchange rate derivatives $ — $ (20) $ — $ (20) $ — $ (20) $ — $ (20) 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,897 $ 3,604 $ 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 March 31, 2023: Assets: Money market mutual funds $ 40 $ — $ — $ 40 Equity securities: Investment funds 17 — — 17 $ 57 $ — $ — $ 57 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 March 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Long-term debt $ 1,582 $ 1,393 $ 1,582 $ 1,337 |
Commitment and Contingencies (T
Commitment and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 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 2020 Wildfires (in millions): Three-Month Periods Ended March 31, 2023 2022 Beginning balance $ 424 $ 252 Accrued losses 400 — Ending balance $ 824 $ 252 |
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 2020 Wildfires (in millions): Three-Month Periods Ended March 31, 2023 2022 Beginning balance $ 424 $ 252 Accrued losses 400 — Ending balance $ 824 $ 252 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 3 Months Ended |
Mar. 31, 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 12 (in millions): For the Three-Month Period Ended March 31, 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 $ 1,349 $ 491 $ 848 $ — $ — $ — $ — $ — $ 2,688 Retail gas — 296 96 — — — — — 392 Wholesale 61 100 31 — — — — (1) 191 Transmission and 38 14 18 281 — 165 — — 516 Interstate pipeline — — — — 878 — — (56) 822 Other 32 — — — 2 — — — 34 Total Regulated 1,480 901 993 281 880 165 — (57) 4,643 Nonregulated — 3 1 45 266 40 305 — 660 Total Customer Revenue 1,480 904 994 326 1,146 205 305 (57) 5,303 Other revenue 4 16 5 28 27 — 88 — 168 Total $ 1,484 $ 920 $ 999 $ 354 $ 1,173 $ 205 $ 393 $ (57) $ 5,471 For the Three-Month Period Ended March 31, 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 $ 1,185 $ 472 $ 599 $ — $ — $ — $ — $ — $ 2,256 Retail gas — 337 51 — — — — — 388 Wholesale 55 161 20 — — — — — 236 Transmission and 32 15 17 269 — 176 — — 509 Interstate pipeline — — — — 745 — — (41) 704 Other 20 — 1 — 1 — — — 22 Total Regulated 1,292 985 688 269 746 176 — (41) 4,115 Nonregulated — 2 — 15 278 7 302 — 604 Total Customer Revenue 1,292 987 688 284 1,024 183 302 (41) 4,719 Other revenue 5 18 5 31 11 — 34 — 104 Total $ 1,297 $ 1,005 $ 693 $ 315 $ 1,035 $ 183 $ 336 $ (41) $ 4,823 (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 Ended March 31, 2023 2022 Customer Revenue: Brokerage $ 799 $ 1,092 Franchise 12 20 Total Customer Revenue 811 1,112 Mortgage and other revenue 64 95 Total $ 875 $ 1,207 Three-Month Periods Ended March 31, 2023 2022 Operating revenue by country: U.S. $ 5,815 $ 5,534 United Kingdom 333 315 Canada 177 181 Australia 21 — Total operating revenue by country $ 6,346 $ 6,030 Income (loss) before income tax expense (benefit) and equity income (loss) by country: U.S. $ 819 $ (654) United Kingdom 113 139 Canada 43 46 Australia 5 — Other (1) (1) Total income (loss) before income tax expense (benefit) and equity income (loss) by country $ 979 $ (470) |
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 March 31, 2023, by reportable segment (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total BHE Pipeline Group $ 2,786 $ 20,146 $ 22,932 BHE Transmission 490 — 490 Total $ 3,276 $ 20,146 $ 23,422 |
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 Ended March 31, 2023 2022 Customer Revenue: Retail: Residential $ 585 $ 505 Commercial 430 370 Industrial 290 273 Other retail 44 37 Total retail 1,349 1,185 Wholesale 61 55 Transmission 38 32 Other Customer Revenue 32 20 Total Customer Revenue 1,480 1,292 Other revenue 4 5 Total operating revenue $ 1,484 $ 1,297 |
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 11 (in millions): For the Three-Month Period Ended March 31, 2023 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 167 $ 199 $ — $ 366 Commercial 75 78 — 153 Industrial 214 7 — 221 Natural gas transportation services — 13 — 13 Other retail 35 (1) — 34 Total retail 491 296 — 787 Wholesale 71 29 — 100 Multi-value transmission projects 14 — — 14 Other Customer Revenue — — 3 3 Total Customer Revenue 576 325 3 904 Other revenue 15 1 — 16 Total operating revenue $ 591 $ 326 $ 3 $ 920 For the Three-Month Period Ended March 31, 2022 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 168 $ 225 $ — $ 393 Commercial 74 88 — 162 Industrial 198 9 — 207 Natural gas transportation services — 14 — 14 Other retail 32 1 — 33 Total retail 472 337 — 809 Wholesale 104 58 — 162 Multi-value transmission projects 15 — — 15 Other Customer Revenue — — 1 1 Total Customer Revenue 591 395 1 987 Other revenue 17 1 — 18 Total operating revenue $ 608 $ 396 $ 1 $ 1,005 |
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 Ended March 31, 2023 2022 Customer Revenue: Retail: Residential $ 293 $ 214 Commercial 136 96 Industrial 138 78 Other 6 1 Total fully bundled 573 389 Distribution only service 3 5 Total retail 576 394 Wholesale, transmission and other 18 16 Total Customer Revenue 594 410 Other revenue 5 5 Total operating revenue $ 599 $ 415 |
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 10 (in millions): Three-Month Periods Ended March 31, 2023 2022 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 115 $ 60 $ 175 $ 85 $ 32 $ 117 Commercial 91 27 118 70 15 85 Industrial 63 9 72 49 4 53 Other 2 — 2 1 — 1 Total fully bundled 271 96 367 205 51 256 Distribution only service 1 — 1 1 — 1 Total retail 272 96 368 206 51 257 Wholesale, transmission and other 32 — 32 21 — 21 Total Customer Revenue 304 96 400 227 51 278 Other revenue — — — — 1 1 Total operating revenue $ 304 $ 96 $ 400 $ 227 $ 52 $ 279 |
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 Ended March 31, 2023 2022 Customer Revenue: Regulated: Gas transmission and storage $ 332 $ 285 Other 2 — Total regulated 334 285 Nonregulated 217 203 Total Customer Revenue 551 488 Other revenue (1) 2 (6) Total operating revenue $ 553 $ 482 (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 March 31, 2023 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,657 $ 15,340 $ 16,997 |
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 Ended March 31, 2023 2022 Customer Revenue: Regulated: Gas transmission $ 191 $ 165 Gas storage 67 47 Other 2 — Total regulated 260 212 Management service and other revenues 17 18 Total Customer Revenue 277 230 Other revenue (1) 1 (7) Total operating revenue $ 278 $ 223 (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 March 31, 2023 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total EGTS $ 746 $ 3,390 $ 4,136 |
Components of Accumulated Oth_2
Components of Accumulated Other Comprehensive Loss, Net (Tables) | 3 Months Ended |
Mar. 31, 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) 15 (110) 77 — (18) Balance, March 31, 2022 $ (303) $ (1,196) $ 136 $ 5 $ (1,358) Balance, December 31, 2022 $ (390) $ (1,896) $ 135 $ 2 $ (2,149) Other comprehensive (loss) income (4) 99 (55) — 40 Balance, March 31, 2023 $ (394) $ (1,797) $ 80 $ 2 $ (2,109) |
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, March 31, 2022 $ (5) $ (38) $ 5 $ (38) Balance, December 31, 2022 $ (1) $ (43) $ 2 $ (42) Other comprehensive loss (1) (2) — (3) Balance, March 31, 2023 $ (2) $ (45) $ 2 $ (45) |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 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 Ended March 31, 2023 2022 Operating revenue: PacifiCorp $ 1,484 $ 1,297 MidAmerican Funding 920 1,005 NV Energy 999 693 Northern Powergrid 354 315 BHE Pipeline Group 1,173 1,035 BHE Transmission 205 183 BHE Renewables 393 336 HomeServices 875 1,207 BHE and Other (1) (57) (41) Total operating revenue $ 6,346 $ 6,030 Depreciation and amortization: PacifiCorp $ 279 $ 280 MidAmerican Funding 234 250 NV Energy 152 140 Northern Powergrid 85 80 BHE Pipeline Group 172 131 BHE Transmission 61 58 BHE Renewables 66 66 HomeServices 13 15 BHE and Other (1) 1 2 Total depreciation and amortization $ 1,063 $ 1,022 Three-Month Periods Ended March 31, 2023 2022 Operating income: PacifiCorp $ (167) $ 216 MidAmerican Funding 88 100 NV Energy 57 62 Northern Powergrid 146 159 BHE Pipeline Group 584 538 BHE Transmission 88 83 BHE Renewables (69) 54 HomeServices (45) 28 BHE and Other (1) (15) (4) Total operating income 667 1,236 Interest expense (586) (532) Capitalized interest 24 17 Allowance for equity funds 49 38 Interest and dividend income 86 23 Gains (losses) on marketable securities, net 699 (1,257) Other, net 40 5 Total income (loss) before income tax expense (benefit) and equity income (loss) $ 979 $ (470) Interest expense: PacifiCorp $ 124 $ 106 MidAmerican Funding 84 82 NV Energy 63 51 Northern Powergrid 30 32 BHE Pipeline Group 39 37 BHE Transmission 37 38 BHE Renewables 45 42 HomeServices 4 1 BHE and Other (1) 160 143 Total interest expense $ 586 $ 532 Earnings (loss) on common shares: PacifiCorp $ (120) $ 130 MidAmerican Funding 249 241 NV Energy 34 29 Northern Powergrid 11 111 BHE Pipeline Group 369 322 BHE Transmission 64 62 BHE Renewables 79 145 HomeServices (34) 21 BHE and Other (1) 329 (1,206) Total earnings (loss) on common shares $ 981 $ (145) As of March 31, December 31, 2023 2022 Assets: PacifiCorp $ 30,268 $ 30,559 MidAmerican Funding 25,899 26,077 NV Energy 17,210 16,676 Northern Powergrid 9,216 9,005 BHE Pipeline Group 20,931 21,005 BHE Transmission 9,380 9,334 BHE Renewables 11,693 12,632 HomeServices 3,625 3,436 BHE and Other (1) 6,232 5,116 Total assets $ 134,454 $ 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 12 (in millions): For the Three-Month Period Ended March 31, 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 $ 1,349 $ 491 $ 848 $ — $ — $ — $ — $ — $ 2,688 Retail gas — 296 96 — — — — — 392 Wholesale 61 100 31 — — — — (1) 191 Transmission and 38 14 18 281 — 165 — — 516 Interstate pipeline — — — — 878 — — (56) 822 Other 32 — — — 2 — — — 34 Total Regulated 1,480 901 993 281 880 165 — (57) 4,643 Nonregulated — 3 1 45 266 40 305 — 660 Total Customer Revenue 1,480 904 994 326 1,146 205 305 (57) 5,303 Other revenue 4 16 5 28 27 — 88 — 168 Total $ 1,484 $ 920 $ 999 $ 354 $ 1,173 $ 205 $ 393 $ (57) $ 5,471 For the Three-Month Period Ended March 31, 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 $ 1,185 $ 472 $ 599 $ — $ — $ — $ — $ — $ 2,256 Retail gas — 337 51 — — — — — 388 Wholesale 55 161 20 — — — — — 236 Transmission and 32 15 17 269 — 176 — — 509 Interstate pipeline — — — — 745 — — (41) 704 Other 20 — 1 — 1 — — — 22 Total Regulated 1,292 985 688 269 746 176 — (41) 4,115 Nonregulated — 2 — 15 278 7 302 — 604 Total Customer Revenue 1,292 987 688 284 1,024 183 302 (41) 4,719 Other revenue 5 18 5 31 11 — 34 — 104 Total $ 1,297 $ 1,005 $ 693 $ 315 $ 1,035 $ 183 $ 336 $ (41) $ 4,823 (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 Ended March 31, 2023 2022 Customer Revenue: Brokerage $ 799 $ 1,092 Franchise 12 20 Total Customer Revenue 811 1,112 Mortgage and other revenue 64 95 Total $ 875 $ 1,207 Three-Month Periods Ended March 31, 2023 2022 Operating revenue by country: U.S. $ 5,815 $ 5,534 United Kingdom 333 315 Canada 177 181 Australia 21 — Total operating revenue by country $ 6,346 $ 6,030 Income (loss) before income tax expense (benefit) and equity income (loss) by country: U.S. $ 819 $ (654) United Kingdom 113 139 Canada 43 46 Australia 5 — Other (1) (1) Total income (loss) before income tax expense (benefit) and equity income (loss) by country $ 979 $ (470) |
Schedule of Goodwill | The following table shows the change in the carrying amount of goodwill by reportable segment for the three-month period ended March 31, 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 Foreign currency translation — — — 13 — 1 — — 14 March 31, 2023 $ 1,129 $ 2,102 $ 2,369 $ 930 $ 1,814 $ 1,462 $ 95 $ 1,602 $ 11,503 |
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 Ended March 31, 2023 2022 Operating revenue: Regulated electric $ 591 $ 608 Regulated natural gas 326 396 Other 3 1 Total operating revenue $ 920 $ 1,005 Operating income: Regulated electric $ 50 $ 51 Regulated natural gas 38 49 Total operating income 88 100 Interest expense (80) (78) Allowance for borrowed funds 4 4 Allowance for equity funds 11 15 Other, net 16 (3) Total income before income tax expense (benefit) $ 39 $ 38 As of March 31, December 31, Assets: Regulated electric $ 22,091 $ 22,092 Regulated natural gas 1,716 1,885 Other — 1 Total assets $ 23,807 $ 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 11 (in millions): For the Three-Month Period Ended March 31, 2023 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 167 $ 199 $ — $ 366 Commercial 75 78 — 153 Industrial 214 7 — 221 Natural gas transportation services — 13 — 13 Other retail 35 (1) — 34 Total retail 491 296 — 787 Wholesale 71 29 — 100 Multi-value transmission projects 14 — — 14 Other Customer Revenue — — 3 3 Total Customer Revenue 576 325 3 904 Other revenue 15 1 — 16 Total operating revenue $ 591 $ 326 $ 3 $ 920 For the Three-Month Period Ended March 31, 2022 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 168 $ 225 $ — $ 393 Commercial 74 88 — 162 Industrial 198 9 — 207 Natural gas transportation services — 14 — 14 Other retail 32 1 — 33 Total retail 472 337 — 809 Wholesale 104 58 — 162 Multi-value transmission projects 15 — — 15 Other Customer Revenue — — 1 1 Total Customer Revenue 591 395 1 987 Other revenue 17 1 — 18 Total operating revenue $ 608 $ 396 $ 1 $ 1,005 |
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 Ended March 31, 2023 2022 Operating revenue: Regulated electric $ 591 $ 608 Regulated natural gas 326 396 Other 3 1 Total operating revenue $ 920 $ 1,005 Operating income: Regulated electric $ 50 $ 51 Regulated natural gas 38 49 Total operating income 88 100 Interest expense (84) (82) Allowance for borrowed funds 4 4 Allowance for equity funds 11 15 Other, net 28 (4) Total income before income tax expense (benefit) $ 47 $ 33 As of March 31, December 31, Assets (1) : Regulated electric $ 23,282 $ 23,283 Regulated natural gas 1,795 1,963 Other 10 8 Total assets $ 25,087 $ 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 Ended March 31, 2023 2022 Operating revenue: Regulated electric $ 304 $ 227 Regulated natural gas 96 52 Total operating revenue $ 400 $ 279 Operating income: Regulated electric $ 25 $ 30 Regulated natural gas 10 8 Total operating income 35 38 Interest expense (16) (13) Allowance for borrowed funds 2 1 Allowance for equity funds 2 2 Interest and dividend income 7 3 Other, net 1 2 Total income before income tax expense (benefit) $ 31 $ 33 As of March 31, December 31, 2023 2022 Assets: Regulated electric $ 4,193 $ 4,224 Regulated natural gas 460 441 Other (1) 30 67 Total assets $ 4,683 $ 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 10 (in millions): Three-Month Periods Ended March 31, 2023 2022 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 115 $ 60 $ 175 $ 85 $ 32 $ 117 Commercial 91 27 118 70 15 85 Industrial 63 9 72 49 4 53 Other 2 — 2 1 — 1 Total fully bundled 271 96 367 205 51 256 Distribution only service 1 — 1 1 — 1 Total retail 272 96 368 206 51 257 Wholesale, transmission and other 32 — 32 21 — 21 Total Customer Revenue 304 96 400 227 51 278 Other revenue — — — — 1 1 Total operating revenue $ 304 $ 96 $ 400 $ 227 $ 52 $ 279 |
General - BHE (Details)
General - BHE (Details) | 3 Months Ended |
Mar. 31, 2023 company operatingSegment state | |
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 | 3 Months Ended |
Mar. 31, 2023 mi | |
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 | 25% |
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 |
Cash and Cash Equivalents and_3
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - PAC (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 963 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 133 | 173 | ||
Restricted cash, cash equivalents and investments, noncurrent | 59 | 53 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,155 | 1,817 | $ 1,582 | $ 1,244 |
PAC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 19 | 641 | ||
Restricted cash and cash equivalents, current | 8 | 7 | ||
Restricted cash, cash equivalents and investments, noncurrent | 31 | 26 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 58 | $ 674 | $ 341 | $ 186 |
Cash and Cash Equivalents and_4
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - MEC (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 963 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 133 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,155 | 1,817 | $ 1,582 | $ 1,244 |
MEC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 57 | 258 | ||
Restricted cash and cash equivalents, current | 7 | 10 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 64 | $ 268 | $ 138 | $ 239 |
Cash and Cash Equivalents and_5
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - LLC (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 963 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 133 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,155 | 1,817 | $ 1,582 | $ 1,244 |
MidAmerican Funding, LLC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 58 | 261 | ||
Restricted cash and cash equivalents, current | 6 | 10 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 64 | $ 271 | $ 139 | $ 240 |
Cash and Cash Equivalents and_6
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - NPC (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 963 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 133 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,155 | 1,817 | $ 1,582 | $ 1,244 |
NPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 23 | 43 | ||
Restricted cash and cash equivalents, current | 19 | 17 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 42 | $ 60 | $ 61 | $ 45 |
Cash and Cash Equivalents and_7
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - SPPC (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 963 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 133 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,155 | 1,817 | $ 1,582 | $ 1,244 |
SPPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 8 | 49 | ||
Restricted cash and cash equivalents, current | 9 | 7 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 17 | $ 56 | $ 22 | $ 16 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | $ 93,583 | $ 93,043 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 111,615 | 111,087 |
Accumulated depreciation and amortization | (35,395) | (34,599) |
Net operating assets | 76,220 | 76,488 |
Construction work-in-progress | 5,800 | 4,900 |
Regulated | Utility generation, transmission and distribution systems | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 93,123 | 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 | $ 18,492 | 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 | $ 14,610 | 14,650 |
Accumulated depreciation and amortization | (3,493) | (3,452) |
Net operating assets | 11,117 | 11,198 |
Nonregulated | Independent power plants | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 8,514 | 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 | $ 3,416 | 3,412 |
Depreciable life | 40 years | |
Nonregulated | Other assets | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 2,680 | 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 | $ 87,337 | 87,686 |
Property, plant and equipment, net | 93,583 | 93,043 |
Construction in Progress | ||
Property, Plant and Equipment [Line Items] | ||
Construction work-in-progress | $ 6,246 | $ 5,357 |
Property, Plant and Equipment_4
Property, Plant and Equipment, Net - PAC (Details) - PAC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 33,120 | $ 33,009 |
Accumulated depreciation and amortization | (11,256) | (11,093) |
Utility plant in-service, net | 21,864 | 21,916 |
Plant, net | 21,882 | 21,934 |
Construction work-in-progress | 2,813 | 2,496 |
Property, plant and equipment, net | $ 24,695 | 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 | $ 13,721 | 13,726 |
Transmission | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 8,063 | 8,051 |
Distribution | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 8,578 | 8,477 |
Intangible plant and other | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 2,758 | 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 | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 20,002 | $ 20,301 | |
Construction work-in-progress | 979 | 790 | |
Property, plant and equipment, net | 20,981 | 21,091 | |
Anticipated equity returns exceeding threshold | |||
Property, Plant and Equipment [Line Items] | |||
Regulatory liability, additions | 20 | $ 42 | |
Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | 28,206 | 28,319 | |
Accumulated depreciation and amortization | (8,210) | (8,024) | |
Plant, net | 19,996 | 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 | $ 18,385 | 18,582 | |
Transmission | 2,672 | 2,662 | |
Distribution | $ 4,983 | 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 | $ 2,166 | $ 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 | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 6,946 | $ 6,921 |
Construction work-in-progress | 703 | 485 |
Property, plant and equipment, net | 7,649 | 7,406 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Generation | 3,977 | 3,977 |
Distribution | 1,569 | 1,562 |
Transmission | 4,189 | 4,134 |
General and intangible | 887 | 871 |
Utility plant in-service | 10,622 | 10,544 |
Accumulated depreciation and amortization | (3,677) | (3,624) |
Plant, net | $ 6,945 | 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 | 3 Months Ended | ||
Jan. 01, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | |||
Construction work-in-progress | $ 275 | $ 236 | |
Property, plant and equipment, net | 3,622 | 3,587 | |
Annual amortization expense increase | $ 19 | ||
Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | 5,371 | 5,343 | |
Accumulated depreciation and amortization | (2,024) | (1,992) | |
Plant, net | 3,347 | 3,351 | |
Regulated | Generation | |||
Property, Plant and Equipment [Line Items] | |||
Generation | 1,301 | 1,298 | |
Transmission | 995 | 993 | |
Distribution | 1,999 | 1,983 | |
General and intangible | $ 221 | 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 | $ 459 | 455 | |
General and intangible | $ 16 | 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 | $ 380 | $ 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) - EEGH - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 10,071 | $ 10,001 |
Construction work-in-progress | 210 | 201 |
Property, plant and equipment, net | 10,281 | 10,202 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant in service, net | 9,169 | 9,035 |
Accumulated depreciation and amortization | (3,075) | (3,039) |
Plant, net | 6,094 | 5,996 |
Construction work-in-progress | 192 | 181 |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant in service, net | 4,551 | 4,547 |
Accumulated depreciation and amortization | (574) | (542) |
Plant, net | 3,977 | 4,005 |
Interstate natural gas transmission and storage assets | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant in service, net | $ 9,053 | 8,922 |
Interstate natural gas transmission and storage assets | Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 21 years | |
Interstate natural gas transmission and storage assets | Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 52 years | |
Intangible plant | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant in service, net | $ 116 | 113 |
Intangible plant | Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 5 years | |
Intangible plant | Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 18 years | |
Intangible plant | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 14 years | |
Plant in service, net | $ 25 | 25 |
LNG facility | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 40 years | |
Plant in service, net | $ 4,526 | $ 4,522 |
Property, Plant and Equipment_9
Property, Plant and Equipment, Net - EGTS (Details) - EGTS - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 6,922 | $ 6,803 |
Accumulated depreciation and amortization | (2,465) | (2,440) |
Plant, net | 4,457 | 4,363 |
Construction work-in-progress | 147 | 141 |
Property, plant and equipment, net | 4,604 | 4,504 |
Interstate natural gas transmission and storage assets | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 6,842 | 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 | $ 80 | $ 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 | 20 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 | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Investments: | |||
Total investments | $ 6,942 | $ 6,462 | |
Equity method investments | 6,027 | 6,062 | |
Restricted cash and cash equivalents and investments | 888 | 890 | |
Total investments and restricted cash and cash equivalents and investments | 13,857 | 13,414 | |
Reflected as: | |||
Other current assets | 3,032 | 2,141 | |
Noncurrent assets | 10,825 | 11,273 | |
Unrealized gains (losses) recognized on marketable securities held at the reporting date | 529 | $ (1,257) | |
Net gains recognized on marketable securities sold during the period | 170 | 0 | |
Gains (losses) on marketable securities, net | 699 | (1,257) | |
Quad Cities Station nuclear decommissioning trust funds | |||
Investments: | |||
Restricted cash and cash equivalents and investments | 696 | 664 | |
Other restricted cash and cash equivalents | |||
Investments: | |||
Restricted cash and cash equivalents and investments | 192 | 226 | |
BHE Renewables tax equity investments | |||
Investments: | |||
Equity method investments | 4,430 | 4,535 | |
Electric Transmission Texas, LLC | |||
Investments: | |||
Equity method investments | 641 | 623 | |
Iroquois Gas Transmission System, L.P. | |||
Investments: | |||
Equity method investments | 604 | 600 | |
Other | |||
Investments: | |||
Equity method investments | 352 | 304 | |
BYD Company Limited common stock | |||
Investments: | |||
Total investments | 3,321 | 3,763 | |
Reflected as: | |||
Unrealized gains (losses) recognized on marketable securities held at the reporting date | $ (1,247) | ||
U.S. Treasury Bills | |||
Investments: | |||
Total investments | 2,854 | 1,931 | |
Rabbi trusts | |||
Investments: | |||
Total investments | 449 | 433 | |
Other | |||
Investments: | |||
Total investments | $ 318 | $ 335 |
Investments and Restricted Ca_4
Investments and Restricted Cash and Cash Equivalents and Investments - BHE - Reconciliation of Cash (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Investments and Restricted Cash and Investments [Abstract] | ||||
Cash and cash equivalents | $ 963 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 133 | 173 | ||
Restricted cash, cash equivalents and investments, noncurrent | 59 | 53 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 1,155 | $ 1,817 | $ 1,582 | $ 1,244 |
Investments and Restricted Ca_5
Investments and Restricted Cash and Cash Equivalents and Investments - EEGH - Components (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Investments: | ||
Equity method investments | $ 6,027 | $ 6,062 |
Total investments and restricted cash and cash equivalents and investments | 13,857 | 13,414 |
Reflected as: | ||
Other current assets | 3,032 | 2,141 |
Noncurrent assets | 10,825 | 11,273 |
EEGH | ||
Investments: | ||
Total investments | 285 | 278 |
Restricted cash and cash equivalents | 31 | 30 |
Total investments and restricted cash and cash equivalents and investments | 316 | 308 |
Reflected as: | ||
Other current assets | 31 | 30 |
Noncurrent assets | 285 | 278 |
EEGH | Customer deposits | ||
Investments: | ||
Restricted cash and cash equivalents | 31 | 30 |
Iroquois Gas Transmission System, L.P. | ||
Investments: | ||
Equity method investments | 604 | 600 |
Iroquois Gas Transmission System, L.P. | EEGH | ||
Investments: | ||
Equity method investments | 268 | 264 |
Investment funds | EEGH | ||
Investments: | ||
Investments | $ 17 | $ 14 |
Investments and Restricted Ca_6
Investments and Restricted Cash and Cash Equivalents and Investments - EEGH - Narrative (Details) - EEGH - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Investments And Restricted Cash And Investments [Line Items] | |||
Investment exceeded share of equity in net assets | $ 130 | $ 130 | |
Distributions received from investments | $ 26 | $ 11 | |
Iroquois Gas Transmission System, L.P. | |||
Investments And Restricted Cash And Investments [Line Items] | |||
Equity method investment, ownership percentage | 50% |
Investments and Restricted Ca_7
Investments and Restricted Cash and Cash Equivalents and Investments - EEGH - Reconciliation of Cash (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 963 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 133 | 173 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,155 | 1,817 | $ 1,582 | $ 1,244 |
EEGH | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 103 | 65 | ||
Restricted cash and cash equivalents, current | 31 | 30 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 134 | $ 95 | $ 72 | $ 39 |
Investments and Restricted Ca_8
Investments and Restricted Cash and Cash Equivalents and Investments - EGTS - Components (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Reflected as: | ||
Other current assets | $ 3,032 | $ 2,141 |
EGTS | ||
Investments And Restricted Cash And Investments [Line Items] | ||
Restricted cash and cash equivalents | 29 | 29 |
Total investments and restricted cash and cash equivalents | 46 | 43 |
Reflected as: | ||
Other current assets | 29 | 29 |
Noncurrent assets | 17 | 14 |
Customer deposits | EGTS | ||
Investments And Restricted Cash And Investments [Line Items] | ||
Restricted cash and cash equivalents | 29 | 29 |
Investment funds | EGTS | ||
Investments And Restricted Cash And Investments [Line Items] | ||
Investments | $ 17 | $ 14 |
Investments and Restricted Ca_9
Investments and Restricted Cash and Cash Equivalents and Investments - EGTS - Reconciliation of Cash (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 963 | $ 1,591 | ||
Restricted cash and cash equivalents, current | 133 | 173 | ||
Restricted cash, cash equivalents and investments, noncurrent | 59 | 53 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,155 | 1,817 | $ 1,582 | $ 1,244 |
EGTS | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 46 | 16 | ||
Restricted cash and cash equivalents, current | 29 | 29 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 75 | $ 45 | $ 30 | $ 26 |
Recent Financing Transactions -
Recent Financing Transactions - BHE (Details) - Line of Credit - Revolving credit facility, C$200 million, expiring April 2024 - AltaLink Investments, L.P. - Subsequent event $ in Millions | 1 Months Ended |
Apr. 30, 2023 CAD ($) | |
Debt Instrument [Line Items] | |
Maximum borrowing capacity | $ 200 |
Debt term | 1 year |
Extension period | 1 year |
Recent Financing Transactions_2
Recent Financing Transactions - PAC (Details) $ in Millions | 1 Months Ended |
Jan. 31, 2023 USD ($) | |
PAC | |
Debt Instrument [Line Items] | |
Common stock dividend declared | $ 300 |
Recent Financing Transactions_3
Recent Financing Transactions - NPC (Details) - NPC - NVE Holdings $ in Millions | Mar. 31, 2023 USD ($) |
NPC Pollution Control Refunding Revenue Bonds, 1.875%, Series 2017A, due 2032 | |
Debt Instrument [Line Items] | |
Repurchased amount | $ 40 |
Face amount | $ 40 |
Stated interest rate | 4.125% |
NPC Pollution Control Refunding Revenue Bonds, 1.65%, Series 2017B, due 2039 | |
Debt Instrument [Line Items] | |
Repurchased amount | $ 13 |
Face amount | $ 13 |
Stated interest rate | 3.75% |
NPC Pollution Control Refunding Revenue Bonds, 1.65%, Series 2017, Due 2036 | |
Debt Instrument [Line Items] | |
Repurchased amount | $ 40 |
Face amount | $ 40 |
Stated interest rate | 3.75% |
Income Taxes - BHE (Details)
Income Taxes - BHE (Details) - USD ($) | 1 Months Ended | 3 Months Ended | ||
Mar. 31, 2023 | Jul. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Effective income tax rate | (17.00%) | 108% | ||
Income tax expense (benefit) | $ 162,000,000 | $ 507,000,000 | ||
Pre-tax loss | (979,000,000) | 470,000,000 | ||
Pre-tax unrealized loss on investment | $ (529,000,000) | 1,257,000,000 | ||
Federal statutory income tax rate, benefit | $ 99,000,000 | |||
Federal statutory income tax rate | 21% | 21% | ||
Income tax credit benefit | $ 339,000,000 | |||
Income tax credits | (35.00%) | 72% | ||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | ||
Income tax credits | (35.00%) | 72% | ||
State income tax, net of federal income tax impacts | (4.00%) | (3.00%) | ||
Income tax effect of foreign income | 7% | 3% | ||
Effects of ratemaking | (3.00%) | 8% | ||
Equity income | (1.00%) | 3% | ||
Noncontrolling interest | (2.00%) | 5% | ||
Other | 0% | (1.00%) | ||
Effective income tax rate | (17.00%) | 108% | ||
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 343,000,000 | $ 338,000,000 | ||
Related party transaction, cash received (paid) for income taxes | $ 0 | 0 | ||
Long-term Income Tax Receivable | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Long-term income tax receivable adjustments | $ (744,000,000) | |||
Retained Earnings | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Long-term income tax receivable adjustments | $ 744,000,000 | |||
BYD Company Limited common stock | ||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Pre-tax unrealized loss on investment | $ 1,247,000,000 | |||
United Kingdom | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Income tax effect, change in enacted tax rate, Energy Profit Levy | $ 82,000,000 |
Income Taxes - PAC (Details)
Income Taxes - PAC (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Effective income tax rate | (17.00%) | 108% | |
Income tax expense (benefit) | $ 162 | $ 507 | |
Pre-tax loss | $ (979) | 470 | |
Federal statutory income tax rate, benefit | $ 99 | ||
Federal statutory income tax rate | 21% | 21% | |
Income tax credit benefit | $ 339 | ||
Income tax credits | (35.00%) | 72% | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||
Federal statutory income tax rate | 21% | 21% | |
State income tax, net of federal income tax impacts | (4.00%) | (3.00%) | |
Income tax credits | (35.00%) | 72% | |
Effects of ratemaking | (3.00%) | 8% | |
Other | 0% | (1.00%) | |
Effective income tax rate | (17.00%) | 108% | |
Years eligible for federal renewable energy production tax credit | 10 years | ||
Production tax credits | $ 343 | $ 338 | |
PAC | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Effective income tax rate | 48% | 2% | |
Income tax expense (benefit) | $ 110 | $ (2) | |
Pre-tax loss | 230 | $ (132) | |
Federal statutory income tax rate, benefit | $ 48 | ||
Federal statutory income tax rate | 21% | 21% | |
Income tax credit benefit | $ 29 | ||
Income tax credits | 13% | (20.00%) | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||
Federal statutory income tax rate | 21% | 21% | |
State income tax, net of federal income tax impacts | 4% | 3% | |
Income tax credits | 13% | (20.00%) | |
Effects of ratemaking | 6% | (11.00%) | |
Valuation allowance | 5% | 6% | |
Other | (1.00%) | 3% | |
Effective income tax rate | 48% | 2% | |
Years eligible for federal renewable energy production tax credit | 10 years | ||
Production tax credits | $ 29 | $ 26 | |
Income taxes receivable | 119 | $ 84 | |
PAC | 2020 Wildfires | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Loss contingency, loss in period | 359 | 0 | |
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 ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||
Federal statutory income tax rate | 21% | 21% |
Income tax credits | (35.00%) | 72% |
State income tax, net of federal income tax impacts | (4.00%) | (3.00%) |
Effects of ratemaking | (3.00%) | 8% |
Other | 0% | (1.00%) |
Effective income tax rate | (17.00%) | 108% |
Years eligible for federal renewable energy production tax credit | 10 years | |
Production tax credits | $ 343,000,000 | $ 338,000,000 |
Related party transaction, cash received (paid) for income taxes | $ 0 | $ 0 |
MEC | ||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||
Federal statutory income tax rate | 21% | 21% |
Income tax credits | (518.00%) | (534.00%) |
State income tax, net of federal income tax impacts | (18.00%) | (21.00%) |
Effects of ratemaking | (8.00%) | (8.00%) |
Other | 2% | 0% |
Effective income tax rate | (521.00%) | (542.00%) |
Years eligible for federal renewable energy production tax credit | 10 years | |
Production tax credits | $ 202,000,000 | $ 203,000,000 |
MEC | BHE | ||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||
Related party transaction, cash received (paid) for income taxes | $ (1,000,000) | $ 0 |
Income Taxes - LLC (Details)
Income Taxes - LLC (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||
Federal statutory income tax rate | 21% | 21% |
Income tax credits | (35.00%) | 72% |
State income tax, net of federal income tax impacts | (4.00%) | (3.00%) |
Effects of ratemaking | (3.00%) | 8% |
Other | 0% | (1.00%) |
Effective income tax rate | (17.00%) | 108% |
Production Tax Credit Carryforwards [Abstract] | ||
Years eligible for federal renewable energy production tax credit | 10 years | |
Production tax credits | $ 343,000,000 | $ 338,000,000 |
Related Party Income Tax Receivable (Payable) [Abstract] | ||
Related party transaction, cash received (paid) for income taxes | $ 0 | $ 0 |
MidAmerican Funding, LLC | ||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||
Federal statutory income tax rate | 21% | 21% |
Income tax credits | (430.00%) | (618.00%) |
State income tax, net of federal income tax impacts | (13.00%) | (24.00%) |
Effects of ratemaking | (6.00%) | (9.00%) |
Other | (2.00%) | 0% |
Effective income tax rate | (430.00%) | (630.00%) |
Production Tax Credit Carryforwards [Abstract] | ||
Years eligible for federal renewable energy production tax credit | 10 years | |
Production tax credits | $ 202,000,000 | $ 203,000,000 |
MidAmerican Funding, LLC | BHE | ||
Related Party Income Tax Receivable (Payable) [Abstract] | ||
Related party transaction, cash received (paid) for income taxes | $ 0 | $ 0 |
Income Taxes - NPC (Details)
Income Taxes - NPC (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||
Federal statutory income tax rate | 21% | 21% |
Effects of ratemaking | (3.00%) | 8% |
Income tax credits | (35.00%) | 72% |
Other | 0% | (1.00%) |
Effective income tax rate | (17.00%) | 108% |
Related party transaction, cash received (paid) for income taxes | $ 0 | $ 0 |
NPC | ||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||
Federal statutory income tax rate | 21% | |
Effects of ratemaking | (9.00%) | |
Income tax credits | (2.00%) | |
Other | 10% | |
Effective income tax rate | 20% | |
Related party transaction, cash received (paid) for income taxes | $ 0 | $ 0 |
Income Taxes - SPPC (Details)
Income Taxes - SPPC (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||
Federal statutory income tax rate | 21% | 21% |
Effects of ratemaking | (3.00%) | 8% |
Other | 0% | (1.00%) |
Effective income tax rate | (17.00%) | 108% |
Related party transaction, cash received (paid) for income taxes | $ 0 | $ 0 |
SPPC | ||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||
Federal statutory income tax rate | 21% | 21% |
Effects of ratemaking | (9.00%) | (7.00%) |
Other | 1% | 1% |
Effective income tax rate | 13% | 15% |
Related party transaction, cash received (paid) for income taxes | $ 0 | $ 0 |
Income Taxes - EEGH (Details)
Income Taxes - EEGH (Details) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||
Federal statutory income tax rate | 21% | 21% |
State income tax, net of federal income tax impacts | (4.00%) | (3.00%) |
Equity interest | (1.00%) | 3% |
Noncontrolling interest | (2.00%) | 5% |
Other | 0% | (1.00%) |
Effective income tax rate | (17.00%) | 108% |
EEGH | ||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||
Federal statutory income tax rate | 21% | 21% |
State income tax, net of federal income tax impacts | 2% | 5% |
Equity interest | 3% | 2% |
Effects of ratemaking | 0% | (4.00%) |
Noncontrolling interest | (10.00%) | (11.00%) |
Other | 0% | 1% |
Effective income tax rate | 16% | 14% |
EEGH | Cove Point LNG, LP | ||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||
Ownership interest | 75% |
Income Taxes - EGTS (Details)
Income Taxes - EGTS (Details) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||
Federal statutory income tax rate | 21% | 21% |
State income tax, net of federal income tax impacts | (4.00%) | (3.00%) |
Effective income tax rate | (17.00%) | 108% |
EGTS | ||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||
Federal statutory income tax rate | 21% | 21% |
State income tax, net of federal income tax impacts | 4% | 5% |
Effective income tax rate | 25% | 26% |
Employee Benefit Plans - BHE (D
Employee Benefit Plans - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 1 | $ 2 |
Interest cost | 7 | 5 |
Expected return on plan assets | (8) | (7) |
Net amortization | (1) | 0 |
Net periodic benefit (credit) cost | (1) | 0 |
U.S. | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 4 | 7 |
Interest cost | 28 | 19 |
Expected return on plan assets | (31) | (27) |
Settlement | (5) | 2 |
Net amortization | 4 | 4 |
Net periodic benefit (credit) cost | 0 | 5 |
United Kingdom | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 2 | 4 |
Interest cost | 14 | 10 |
Expected return on plan assets | (19) | (25) |
Net amortization | 6 | 6 |
Net periodic benefit (credit) cost | $ 3 | $ (5) |
Employee Benefit Plans - BHE -
Employee Benefit Plans - BHE - Employer Contributions (Details) - 3 months ended Mar. 31, 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 | 1 | ||
U.S. | Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, expected contributions in current fiscal year | 13 | ||
Employer contributions | 3 | ||
United Kingdom | Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, expected contributions in current fiscal year | £ | £ 11 | ||
Employer contributions | $ 4 | £ 3 |
Employee Benefit Plans - PAC (D
Employee Benefit Plans - PAC (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 1 | $ 2 |
Interest cost | 7 | 5 |
Expected return on plan assets | (8) | (7) |
Net amortization | (1) | 0 |
Net periodic benefit (credit) cost | (1) | 0 |
PAC | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 0 | 0 |
Interest cost | 3 | 2 |
Expected return on plan assets | (3) | (2) |
Net amortization | (1) | 0 |
Net periodic benefit (credit) cost | (1) | 0 |
U.S. | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 4 | 7 |
Interest cost | 28 | 19 |
Expected return on plan assets | (31) | (27) |
Net amortization | 4 | 4 |
Net periodic benefit (credit) cost | 0 | 5 |
U.S. | PAC | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost | 10 | 7 |
Expected return on plan assets | (12) | (10) |
Net amortization | 3 | 4 |
Net periodic benefit (credit) cost | $ 1 | $ 1 |
Employee Benefit Plans - PAC -
Employee Benefit Plans - PAC - Employer Contributions (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | $ 7 |
Employer contributions | 1 |
PAC | Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 0 |
U.S. | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 13 |
Employer contributions | 3 |
U.S. | PAC | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 4 |
Employer contributions | $ 1 |
Employee Benefit Plans - MEC (D
Employee Benefit Plans - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Pension Plan | U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 4 | $ 7 |
Interest cost | 28 | 19 |
Expected return on plan assets | (31) | (27) |
Settlement | (5) | 2 |
Net periodic benefit (credit) cost | 0 | 5 |
Pension Plan | U.S. | MEC | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 3 | 5 |
Interest cost | 8 | 5 |
Expected return on plan assets | (8) | (7) |
Settlement | (5) | 2 |
Net periodic benefit (credit) cost | (2) | 5 |
Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1 | 2 |
Interest cost | 7 | 5 |
Expected return on plan assets | (8) | (7) |
Net periodic benefit (credit) cost | (1) | 0 |
Other Postretirement Plans | MEC | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1 | 2 |
Interest cost | 3 | 2 |
Expected return on plan assets | (4) | (4) |
Net periodic benefit (credit) cost | $ 0 | $ 0 |
Employee Benefit Plans - MEC -
Employee Benefit Plans - MEC - Employer Contributions (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | $ 7 |
Employer contributions | 1 |
MEC | Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 2 |
Employer contributions | 1 |
U.S. | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 13 |
Employer contributions | 3 |
U.S. | MEC | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 7 |
Employer contributions | $ 2 |
Employee Benefit Plans - NPC (D
Employee Benefit Plans - NPC (Details) - NPC - U.S. - NV Energy - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
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) |
Qualified Plan | Other Assets | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | $ 26 | $ 27 |
Employee Benefit Plans - SPPC (
Employee Benefit Plans - SPPC (Details) - SPPC - U.S. - NV Energy - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
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 | (5) | (5) |
Other Noncurrent Liabilities | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other long-term liabilities | (2) | (2) |
Qualified Plan | Other Assets | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | $ 44 | $ 43 |
Employee Benefit Plans - EEGH (
Employee Benefit Plans - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 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 | 2 | $ 3 | |
Other Postretirement Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 1 | ||
Other Postretirement Plans | EEGH | MidAmerican Energy Retiree Health and Welfare Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 1 | $ 1 |
Employee Benefit Plans - EGTS (
Employee Benefit Plans - EGTS (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Other Postretirement Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 1 | ||
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 | 2 | $ 3 | |
EGTS | MidAmerican Energy Retiree Health and Welfare Plan | Other Postretirement Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 1 | $ 1 |
Asset Retirement Obligations -
Asset Retirement Obligations - BHE (Details) $ in Millions | 3 Months Ended |
Mar. 31, 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 | 3 Months Ended |
Mar. 31, 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 | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||||
Total | $ 109 | $ 270 | ||
Cash collateral payable | (12) | (78) | ||
Total derivatives - net basis | 97 | 192 | ||
Cash collateral payable, not offset | 12 | |||
Derivative Contracts - Current Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Total | 126 | 257 | ||
Cash collateral payable | (12) | (73) | ||
Total derivatives - net basis | 114 | 184 | ||
Other Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Total | 8 | 20 | ||
Cash collateral payable | 0 | (5) | ||
Total derivatives - net basis | 8 | 15 | ||
Other Current Liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Total | (24) | (5) | ||
Cash collateral payable | 0 | 0 | ||
Total derivatives - net basis | (24) | (5) | ||
Other Noncurrent Liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Total | (1) | (2) | ||
Cash collateral payable | 0 | 0 | ||
Total derivatives - net basis | (1) | (2) | ||
Not Designated as Hedging | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, gross | 166 | 318 | ||
Derivative liability | (57) | (48) | ||
Total | 109 | 270 | ||
Net regulatory asset (liability) on derivative contracts | (109) | (270) | $ (195) | $ (53) |
Not Designated as Hedging | Derivative Contracts - Current Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, gross | 133 | 279 | ||
Derivative liability | (7) | (22) | ||
Total | 126 | 257 | ||
Not Designated as Hedging | Other Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, gross | 15 | 27 | ||
Derivative liability | (7) | (7) | ||
Total | 8 | 20 | ||
Not Designated as Hedging | Other Current Liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, gross | 15 | 9 | ||
Derivative liability | (39) | (14) | ||
Total | (24) | (5) | ||
Not Designated as Hedging | Other Noncurrent Liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, gross | 3 | 3 | ||
Derivative liability | (4) | (5) | ||
Total | $ (1) | $ (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 | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Instruments [Roll Forward] | ||
Beginning balance | $ (270) | $ (53) |
Changes in fair value recognized in regulatory (liabilities) assets | (10) | (168) |
Net losses reclassified to operating revenue | (6) | (3) |
Net gains reclassified to energy costs | 177 | 29 |
Ending balance | $ (109) | $ (195) |
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 | Mar. 31, 2023 MWh Dth | Dec. 31, 2022 Dth MWh |
Electricity purchases, net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | MWh | 3 | 2 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | Dth | 158 | 127 |
Risk Management and Hedging A_6
Risk Management and Hedging Activities - PAC - Collateral and Contingent Features (Details) - PAC - Commodity derivatives - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 56 | $ 48 |
Collateral already posted, aggregate fair value | 0 | 0 |
Additional collateral, aggregate fair value | $ 20 | $ 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 | Mar. 31, 2023 | Dec. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | $ 4 | $ 23 |
Derivative liability | (120) | (75) |
Total | (116) | (52) |
Net regulatory asset (liability) on derivative contracts | 116 | 52 |
Other Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 4 | 23 |
Derivative liability | 0 | 0 |
Total | 4 | 23 |
Derivative Contracts - Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | (90) | (51) |
Total | (90) | (51) |
Other Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | (30) | (24) |
Total | $ (30) | $ (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 | Mar. 31, 2023 Dth MWh | Dec. 31, 2022 Dth MWh |
Electricity purchases (sales), 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 | 155 | 109 |
Risk Management and Hedging A_9
Risk Management and Hedging Activities - NPC - Narrative (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Commodity derivatives | NPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 10 | $ 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 | Mar. 31, 2023 | Dec. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | $ 1 | $ 8 |
Derivative liability | (34) | (21) |
Total | (33) | (13) |
Net regulatory asset (liability) on derivative contracts | 33 | 13 |
Other Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 1 | 8 |
Derivative liability | 0 | 0 |
Total | 1 | 8 |
Derivative Contracts - Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | (27) | (14) |
Total | (27) | (14) |
Other Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | (7) | (7) |
Total | $ (7) | $ (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 | Mar. 31, 2023 MWh Dth | Dec. 31, 2022 Dth MWh |
Electricity purchases (sales), net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | MWh | 1 | 1 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | Dth | 67 | 52 |
Risk Management and Hedging _12
Risk Management and Hedging Activities -SPPC - Narrative (Details) - USD ($) $ in Millions | Mar. 31, 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 | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (65) | $ (194) |
Assets, fair value | 8,802 | 8,824 |
Derivative liability, offset | 53 | 107 |
Derivative liability | (239) | (242) |
Cash collateral receivable (payable) | (12) | (87) |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 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 | 650 | 474 |
U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3,079 | 2,146 |
International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 1 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 70 | 70 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 4 | 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 | 385 | 360 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 3,329 | 3,771 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,787 | 7,742 |
Derivative liability | (8) | (8) |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 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 | 3,079 | 2,146 |
Level 1 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 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 | 385 | 360 |
Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 3,329 | 3,771 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,048 | 1,217 |
Derivative liability | (117) | (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 | 650 | 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 | 1 |
Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 70 | 70 |
Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 4 | 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 | 32 | 59 |
Derivative liability | (167) | (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 | 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 | (65) | (194) |
Derivative asset | 234 | 477 |
Derivative liability, offset | 52 | 106 |
Derivative liability | (214) | (218) |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 3 | 6 |
Derivative liability, gross | (8) | (8) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 280 | 614 |
Derivative liability, gross | (92) | (206) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 16 | 51 |
Derivative liability, gross | (166) | (110) |
Foreign currency exchange rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (20) | (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 | (20) | (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 | 101 | 112 |
Derivative liability, offset | 1 | 1 |
Derivative liability | (5) | (3) |
Interest rate derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 42 | 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 | 43 | 54 |
Derivative liability, gross | (5) | (2) |
Interest rate derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 16 | 8 |
Derivative liability, gross | $ (1) | $ (2) |
Fair Value Measurements - BHE -
Fair Value Measurements - BHE - Level 3 (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Commodity derivatives | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ (59) | $ (151) |
Changes included in earnings | 9 | (56) |
Changes in fair value recognized in OCI | (3) | 5 |
Changes in fair value recognized in regulatory assets | (98) | (60) |
Settlements | 1 | 23 |
Ending balance | (150) | (239) |
Interest rate derivatives | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 6 | 19 |
Changes included in earnings | 9 | (6) |
Changes in fair value recognized in OCI | 0 | 0 |
Changes in fair value recognized in regulatory assets | 0 | 0 |
Settlements | 0 | 0 |
Ending balance | $ 15 | $ 13 |
Fair Value Measurements - BHE_2
Fair Value Measurements - BHE - Debt (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 51,150 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 47,805 | $ 46,906 |
Fair Value Measurements - PAC (
Fair Value Measurements - PAC (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (65) | $ (194) |
Assets, fair value | 8,802 | 8,824 |
Derivative liability, offset | 53 | 107 |
Derivative liability | (239) | (242) |
Cash collateral receivable (payable) | (12) | (87) |
Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,787 | 7,742 |
Derivative liability | (8) | (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 | 671 | 1,178 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,048 | 1,217 |
Derivative liability | (117) | (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 | 32 | 59 |
Derivative liability | (167) | (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 | (65) | (194) |
Derivative asset | 234 | 477 |
Derivative liability, offset | 52 | 106 |
Derivative liability | (214) | (218) |
Commodity derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 3 | 6 |
Derivative liability, gross | (8) | (8) |
Commodity derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 280 | 614 |
Derivative liability, gross | (92) | (206) |
Commodity derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 16 | 51 |
Derivative liability, gross | (166) | (110) |
PAC | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 28 | 23 |
Assets, fair value | 194 | 871 |
PAC | Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 44 | 649 |
PAC | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 28 | 23 |
Assets, fair value | 72 | 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 | 44 | 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 | 166 | 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) | (12) | (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 | (44) | (119) |
Derivative asset | 122 | 199 |
Derivative liability, offset | 32 | 41 |
Derivative liability | (25) | (7) |
Cash collateral receivable (payable) | (12) | (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 | 166 | 318 |
Derivative liability, gross | (57) | (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 | Mar. 31, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 51,150 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 47,805 | 46,906 |
PAC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 9,658 | 9,666 |
PAC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 9,350 | $ 9,045 |
Fair Value Measurements - MEC (
Fair Value Measurements - MEC (Details) - Recurring - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (65) | $ (194) |
Assets, fair value | 8,802 | 8,824 |
Derivative liability, offset | 53 | 107 |
Cash collateral receivable (payable) | (12) | (87) |
U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3,079 | 2,146 |
International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 1 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 70 | 70 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 4 | 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 | 385 | 360 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 3,329 | 3,771 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,787 | 7,742 |
Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3,079 | 2,146 |
Level 1 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 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 | 385 | 360 |
Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 3,329 | 3,771 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,048 | 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 | 1 |
Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 70 | 70 |
Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 4 | 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 | 32 | 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 | 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 | (65) | (194) |
Derivative liability, offset | 52 | 106 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 3 | 6 |
Derivative liability | (8) | (8) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 280 | 614 |
Derivative liability | (92) | (206) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 16 | 51 |
Derivative liability | (166) | (110) |
MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 786 | 933 |
Cash collateral receivable (payable) | 5 | 0 |
MEC | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 225 | 215 |
MEC | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 1 |
MEC | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 70 | 70 |
MEC | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 4 | 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 | 385 | 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 | 67 | 225 |
MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 709 | 825 |
MEC | Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 225 | 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 | 385 | 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 | 67 | 225 |
MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 82 | 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 | 1 | 1 |
MEC | Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 70 | 70 |
MEC | Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 4 | 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 | 0 | 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 | 4 | 34 |
Derivative asset, offset | (5) | (10) |
Derivative liability | (5) | (3) |
Derivative liability, offset | 10 | 10 |
MEC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 2 | 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 | 7 | 37 |
Derivative liability | (10) | (12) |
MEC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 6 |
Derivative liability | $ (5) | $ (1) |
Fair Value Measurements - MEC -
Fair Value Measurements - MEC - Level 3 (Details) - MEC - Commodity - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 5 | $ (5) |
Changes in fair value recognized in regulatory assets | (13) | 13 |
Settlements | 3 | (4) |
Ending balance | $ (5) | $ 4 |
Fair Value Measurements - MEC_2
Fair Value Measurements - MEC - Debt (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 51,150 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 47,805 | 46,906 |
MEC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 7,722 | 7,729 |
MEC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 7,127 | $ 6,964 |
Fair Value Measurements - LLC (
Fair Value Measurements - LLC (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 51,150 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 47,805 | 46,906 |
MidAmerican Funding, LLC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 7,962 | 7,969 |
MidAmerican Funding, LLC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 7,386 | $ 7,219 |
Fair Value Measurements - NPC (
Fair Value Measurements - NPC (Details) - Recurring - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 8,802 | $ 8,824 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,787 | 7,742 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,048 | 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 | 32 | 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 | 3 | 6 |
Derivative liability | (8) | (8) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 280 | 614 |
Derivative liability | (92) | (206) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 16 | 51 |
Derivative liability | (166) | (110) |
NPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 28 | 60 |
NPC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 3 | 3 |
NPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 21 | 34 |
NPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 24 | 37 |
NPC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 3 | 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 | 21 | 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 | 4 | 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 | 4 | 23 |
Derivative liability | (120) | (75) |
NPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 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 | 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 | 4 | 23 |
Derivative liability | $ (120) | $ (75) |
Fair Value Measurements - NPC -
Fair Value Measurements - NPC - Level 3 (Details) - NPC - Commodity - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ (52) | $ (113) |
Changes in fair value recognized in regulatory assets | (65) | (56) |
Settlements | 1 | 1 |
Ending balance | $ (116) | $ (168) |
Fair Value Measurements - NPC_2
Fair Value Measurements - NPC - Debt (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 51,150 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 47,805 | 46,906 |
NPC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 3,195 | 3,195 |
NPC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 3,241 | $ 3,114 |
Fair Value Measurements - SPPC
Fair Value Measurements - SPPC (Details) - Recurring - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 8,802 | $ 8,824 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,787 | 7,742 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,048 | 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 | 32 | 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 | 3 | 6 |
Derivative liability | (8) | (8) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 280 | 614 |
Derivative liability | (92) | (206) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 16 | 51 |
Derivative liability | (166) | (110) |
SPPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 9 | 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 | 7 | 49 |
SPPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 8 | 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 | 7 | 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 | 1 | 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 | 1 | 8 |
Derivative liability | (34) | (21) |
SPPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 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 | 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 | 1 | 8 |
Derivative liability | $ (34) | $ (21) |
Fair Value Measurements - SPP_2
Fair Value Measurements - SPPC - Level 3 (Details) - Commodity - SPPC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ (13) | $ (33) |
Changes in fair value recognized in regulatory assets | (20) | (19) |
Ending balance | $ (33) | $ (52) |
Fair Value Measurements - SPP_3
Fair Value Measurements - SPPC - Debt (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 51,150 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 47,805 | 46,906 |
SPPC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 1,148 | 1,148 |
SPPC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,148 | $ 1,111 |
Fair Value Measurements - EEGH
Fair Value Measurements - EEGH (Details) - Recurring - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 8,802 | $ 8,824 |
Derivative liability | (239) | (242) |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 112 | 57 |
Total liabilities | (20) | (20) |
EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 95 | 42 |
EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 17 | 14 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,787 | 7,742 |
Derivative liability | (8) | (8) |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 278 | 231 |
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 |
Level 1 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 95 | 42 |
Level 1 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 17 | 14 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,048 | 1,217 |
Derivative liability | (117) | (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 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 1 |
Total liabilities | (20) | (20) |
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 |
Level 2 | EEGH | 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 | 32 | 59 |
Derivative liability | (167) | (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 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
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 |
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 |
Level 3 | EEGH | 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 | 234 | 477 |
Derivative liability | (214) | (218) |
Commodity derivatives | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | |
Commodity derivatives | Level 1 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
Commodity derivatives | Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | |
Commodity derivatives | Level 3 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
Foreign currency exchange rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (20) | (21) |
Foreign currency exchange rate derivatives | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (20) | (20) |
Foreign currency exchange rate derivatives | 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 | Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (20) | (20) |
Foreign currency exchange rate derivatives | 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 | Mar. 31, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 51,150 | $ 51,635 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 47,805 | 46,906 |
EEGH | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 3,897 | 3,892 |
EEGH | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 3,604 | $ 3,510 |
Fair Value Measurements - EGTS
Fair Value Measurements - EGTS (Details) - Recurring - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 8,802 | $ 8,824 |
Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 234 | 477 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 17 | 14 |
Assets, fair value | 57 | 23 |
EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | |
EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 40 | 8 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,787 | 7,742 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 671 | 1,178 |
Level 1 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 17 | 14 |
Assets, fair value | 57 | 22 |
Level 1 | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
Level 1 | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 40 | 8 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,048 | 1,217 |
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 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Assets, fair value | 0 | 1 |
Level 2 | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | |
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 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 32 | 59 |
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 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Assets, fair value | 0 | 0 |
Level 3 | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
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 | Mar. 31, 2023 | Dec. 31, 2022 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 51,150 | $ 51,635 |
Carrying Value | EGTS | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 1,582 | 1,582 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 47,805 | 46,906 |
Level 2 | Fair Value | EGTS | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,393 | $ 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 | |||
Sep. 30, 2020 USD ($) a naturalGasProducer | Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Apr. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
PAC | Lower Klamath Hydroelectric System | |||||
Long-Term Purchase Commitment [Line Items] | |||||
Hydroelectric dam removal cost, total funding | $ 450 | ||||
Dam removal cost collected | 200 | ||||
Additional dam removal costs, California bond measure | 250 | ||||
Hydroelectric dam removal cost, additional contingency funding | 45 | ||||
PAC | 2020 Wildfires | |||||
Long-Term Purchase Commitment [Line Items] | |||||
Number of acres burned | a | 500 | ||||
Number of structures destroyed | naturalGasProducer | 2 | ||||
Fire suppression costs | $ 150 | ||||
Estimate of possible loss | 877 | ||||
Expected insurance recoveries | 287 | $ 246 | |||
Loss in period | 359 | $ 0 | |||
PAC | 2022 McKinney Fire | |||||
Long-Term Purchase Commitment [Line Items] | |||||
Estimate of possible loss | 31 | ||||
Expected insurance recoveries | 103 | ||||
Construction commitment | PAC | Subsequent event | |||||
Long-Term Purchase Commitment [Line Items] | |||||
Purchase obligation | $ 1,200 | ||||
Construction commitment | MEC | |||||
Long-Term Purchase Commitment [Line Items] | |||||
Purchase obligation | 183 | ||||
Fuel contracts | PAC | |||||
Long-Term Purchase Commitment [Line Items] | |||||
Purchase obligation | $ 247 |
Commitments and Contingencies_2
Commitments and Contingencies - BHE - Contingency Accrual (Details) - 2020 Wildfires - PAC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Loss Contingency Accrual [Roll Forward] | ||
Beginning balance | $ 424 | $ 252 |
Accrued losses | 400 | 0 |
Ending balance | $ 824 | $ 252 |
Commitments and Contingencies_3
Commitments and Contingencies - PAC - Narrative (Details) - PAC naturalGasProducer in Thousands, a in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | |||
Sep. 30, 2020 USD ($) a naturalGasProducer | Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Apr. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Construction commitment | Subsequent event | |||||
Loss Contingencies [Line Items] | |||||
Purchase obligation | $ 1,200 | ||||
Fuel contracts | |||||
Loss Contingencies [Line Items] | |||||
Purchase obligation | $ 247 | ||||
Lower Klamath Hydroelectric System | |||||
Loss Contingencies [Line Items] | |||||
Hydroelectric dam removal cost, total funding | 450 | ||||
Dam removal cost collected | 200 | ||||
Additional dam removal costs, California bond measure | 250 | ||||
Hydroelectric dam removal cost, additional contingency funding | 45 | ||||
2020 Wildfires | |||||
Loss Contingencies [Line Items] | |||||
Number of acres burned | a | 500 | ||||
Number of structures destroyed | naturalGasProducer | 2 | ||||
Fire suppression costs | $ 150 | ||||
Estimate of possible loss | 877 | ||||
Expected insurance recoveries | 287 | $ 246 | |||
Loss in period | 359 | $ 0 | |||
2022 McKinney Fire | |||||
Loss Contingencies [Line Items] | |||||
Estimate of possible loss | 31 | ||||
Expected insurance recoveries | $ 103 |
Commitments and Contingencies_4
Commitments and Contingencies - PAC - Contingency Accrual (Details) - 2020 Wildfires - PAC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Loss Contingency Accrual [Roll Forward] | ||
Beginning balance | $ 424 | $ 252 |
Accrued losses | 400 | 0 |
Ending balance | $ 824 | $ 252 |
Commitments and Contingencies_5
Commitments and Contingencies - MEC (Details) $ in Millions | Mar. 31, 2023 USD ($) |
MEC | Construction commitment | |
Loss Contingencies [Line Items] | |
Purchase obligation | $ 183 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Operating revenue | $ 6,346 | $ 6,030 |
Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 5,303 | 4,719 |
Other revenue | 168 | 104 |
Operating revenue | 5,471 | 4,823 |
PAC | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 1,484 | 1,297 |
PAC | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 1,480 | 1,292 |
Other revenue | 4 | 5 |
Operating revenue | 1,484 | 1,297 |
MidAmerican Funding | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 920 | 1,005 |
MidAmerican Funding | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 904 | 987 |
Other revenue | 16 | 18 |
Operating revenue | 920 | 1,005 |
NV Energy | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 999 | 693 |
NV Energy | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 994 | 688 |
Other revenue | 5 | 5 |
Operating revenue | 999 | 693 |
Northern Powergrid | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 354 | 315 |
Northern Powergrid | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 326 | 284 |
Other revenue | 28 | 31 |
Operating revenue | 354 | 315 |
BHE Pipeline Group | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 1,173 | 1,035 |
BHE Pipeline Group | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 1,146 | 1,024 |
Other revenue | 27 | 11 |
Operating revenue | 1,173 | 1,035 |
BHE Transmission | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 205 | 183 |
BHE Transmission | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 205 | 183 |
Other revenue | 0 | 0 |
Operating revenue | 205 | 183 |
BHE Renewables | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 305 | 302 |
Other revenue | 88 | 34 |
Operating revenue | 393 | 336 |
BHE and Other | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | (57) | (41) |
BHE and Other | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | (57) | (41) |
Other revenue | 0 | 0 |
Operating revenue | (57) | (41) |
Regulated | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 4,643 | 4,115 |
Regulated | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 2,688 | 2,256 |
Regulated | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 392 | 388 |
Regulated | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 191 | 236 |
Regulated | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 516 | 509 |
Regulated | Interstate pipeline | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 822 | 704 |
Regulated | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 34 | 22 |
Regulated | PAC | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 1,480 | 1,292 |
Regulated | PAC | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 1,349 | 1,185 |
Regulated | PAC | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | PAC | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 61 | 55 |
Regulated | PAC | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 38 | 32 |
Regulated | PAC | Interstate pipeline | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | PAC | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 32 | 20 |
Regulated | MidAmerican Funding | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 901 | 985 |
Regulated | MidAmerican Funding | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 491 | 472 |
Regulated | MidAmerican Funding | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 296 | 337 |
Regulated | MidAmerican Funding | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 100 | 161 |
Regulated | MidAmerican Funding | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 14 | 15 |
Regulated | MidAmerican Funding | Interstate pipeline | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | MidAmerican Funding | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | NV Energy | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 993 | 688 |
Regulated | NV Energy | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 848 | 599 |
Regulated | NV Energy | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 96 | 51 |
Regulated | NV Energy | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 31 | 20 |
Regulated | NV Energy | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 18 | 17 |
Regulated | NV Energy | Interstate pipeline | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | NV Energy | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 1 |
Regulated | Northern Powergrid | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 281 | 269 |
Regulated | Northern Powergrid | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | Northern Powergrid | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | Northern Powergrid | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | Northern Powergrid | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 281 | 269 |
Regulated | Northern Powergrid | Interstate pipeline | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | Northern Powergrid | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Pipeline Group | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 880 | 746 |
Regulated | BHE Pipeline Group | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Pipeline Group | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Pipeline Group | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Pipeline Group | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Pipeline Group | Interstate pipeline | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 878 | 745 |
Regulated | BHE Pipeline Group | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 2 | 1 |
Regulated | BHE Transmission | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 165 | 176 |
Regulated | BHE Transmission | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Transmission | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Transmission | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Transmission | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 165 | 176 |
Regulated | BHE Transmission | Interstate pipeline | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Transmission | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Renewables | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Renewables | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Renewables | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Renewables | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Renewables | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Renewables | Interstate pipeline | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE Renewables | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE and Other | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | (57) | (41) |
Regulated | BHE and Other | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE and Other | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE and Other | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | (1) | 0 |
Regulated | BHE and Other | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Regulated | BHE and Other | Interstate pipeline | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | (56) | (41) |
Regulated | BHE and Other | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Nonregulated | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 660 | 604 |
Nonregulated | PAC | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
Nonregulated | MidAmerican Funding | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 3 | 2 |
Nonregulated | NV Energy | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 1 | 0 |
Nonregulated | Northern Powergrid | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 45 | 15 |
Nonregulated | BHE Pipeline Group | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 266 | 278 |
Nonregulated | BHE Transmission | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 40 | 7 |
Nonregulated | BHE Renewables | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 305 | 302 |
Nonregulated | BHE and Other | Energy | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | $ 0 | $ 0 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - BHE - Real Estate Services (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Operating revenue | $ 6,346 | $ 6,030 |
Real estate | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 875 | 1,207 |
HomeServices | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 875 | 1,207 |
HomeServices | Real estate | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 811 | 1,112 |
Other revenue | 64 | 95 |
Operating revenue | 875 | 1,207 |
HomeServices | Brokerage | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 799 | 1,092 |
HomeServices | Franchise | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | $ 12 | $ 20 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - BHE - Remaining Performance Obligation Total (Details) $ in Millions | Mar. 31, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 23,422 |
BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 22,932 |
BHE Transmission | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 490 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,276 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 2,786 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | BHE Transmission | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 490 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,146 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,146 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | 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 | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Operating revenue | $ 6,346 | $ 6,030 |
Regulated | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 2,688 | 2,256 |
Regulated | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 191 | 236 |
Regulated | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 516 | 509 |
Regulated | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 34 | 22 |
PAC | ||
Disaggregation of Revenue [Line Items] | ||
Other revenue | 4 | 5 |
Operating revenue | 1,484 | 1,297 |
PAC | Regulated | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 1,480 | 1,292 |
PAC | Regulated | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 1,349 | 1,185 |
PAC | Regulated | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 61 | 55 |
PAC | Regulated | Transmission and distribution | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 38 | 32 |
PAC | Regulated | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 32 | 20 |
PAC | Regulated | Residential | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 585 | 505 |
PAC | Regulated | Commercial | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 430 | 370 |
PAC | Regulated | Industrial | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 290 | 273 |
PAC | Regulated | Other retail | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | $ 44 | $ 37 |
Revenue from Contracts with C_7
Revenue from Contracts with Customers - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Operating revenue | $ 6,346 | $ 6,030 |
MEC | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 904 | 987 |
Other revenue | 16 | 18 |
Operating revenue | 920 | 1,005 |
MEC | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 3 | 1 |
Regulated | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 2,688 | 2,256 |
Regulated | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 392 | 388 |
Regulated | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 191 | 236 |
Regulated | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 34 | 22 |
Regulated | MEC | Retail | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 787 | 809 |
Regulated | MEC | Retail | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 366 | 393 |
Regulated | MEC | Retail | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 153 | 162 |
Regulated | MEC | Retail | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 221 | 207 |
Regulated | MEC | Retail | Natural gas transportation services | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 13 | 14 |
Regulated | MEC | Retail | Other retail | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 34 | 33 |
Regulated | MEC | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 100 | 162 |
Regulated | MEC | Multi-value transmission projects | Multi-value transmission projects | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 14 | 15 |
Regulated electric | MEC | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 591 | 608 |
Regulated electric | Regulated | MEC | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 576 | 591 |
Other revenue | 15 | 17 |
Operating revenue | 591 | 608 |
Regulated electric | Regulated | MEC | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 491 | 472 |
Regulated electric | Regulated | MEC | Retail electric | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 167 | 168 |
Regulated electric | Regulated | MEC | Retail electric | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 75 | 74 |
Regulated electric | Regulated | MEC | Retail electric | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 214 | 198 |
Regulated electric | Regulated | MEC | Retail electric | Other retail | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 35 | 32 |
Regulated electric | Regulated | MEC | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 71 | 104 |
Regulated electric | Regulated | MEC | Multi-value transmission projects | Multi-value transmission projects | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 14 | 15 |
Regulated natural gas | MEC | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 326 | 396 |
Regulated natural gas | Regulated | MEC | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 325 | 395 |
Other revenue | 1 | 1 |
Operating revenue | 326 | 396 |
Regulated natural gas | Regulated | MEC | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 296 | 337 |
Regulated natural gas | Regulated | MEC | Retail gas | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 199 | 225 |
Regulated natural gas | Regulated | MEC | Retail gas | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 78 | 88 |
Regulated natural gas | Regulated | MEC | Retail gas | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 7 | 9 |
Regulated natural gas | Regulated | MEC | Retail gas | Natural gas transportation services | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 13 | 14 |
Regulated natural gas | Regulated | MEC | Retail gas | Other retail | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | (1) | 1 |
Regulated natural gas | Regulated | MEC | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 29 | 58 |
Other | MEC | ||
Disaggregation of Revenue [Line Items] | ||
Operating revenue | 3 | 1 |
Other | Nonregulated | MEC | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 3 | 1 |
Other revenue | 0 | 0 |
Operating revenue | 3 | 1 |
Other | Nonregulated | MEC | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | $ 3 | $ 1 |
Revenue from Contracts with C_8
Revenue from Contracts with Customers - NPC (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Operating revenue | $ 6,346 | $ 6,030 |
Regulated | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 2,688 | 2,256 |
NPC | ||
Disaggregation of Revenue [Line Items] | ||
Other revenue | 5 | 5 |
Operating revenue | 599 | 415 |
NPC | Regulated | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 594 | 410 |
NPC | Regulated | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 576 | 394 |
NPC | Regulated | Wholesale, transmission and other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 18 | 16 |
NPC | Customer Revenue | Regulated | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 573 | 389 |
NPC | Customer Revenue | Regulated | Retail electric | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 293 | 214 |
NPC | Customer Revenue | Regulated | Retail electric | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 136 | 96 |
NPC | Customer Revenue | Regulated | Retail electric | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 138 | 78 |
NPC | Customer Revenue | Regulated | Retail electric | Other retail | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 6 | 1 |
NPC | Distribution only service | Regulated | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | $ 3 | $ 5 |
Revenue from Contracts with C_9
Revenue from Contracts with Customers - SPPC (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Operating revenue | $ 6,346 | $ 6,030 |
Regulated | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 2,688 | 2,256 |
Regulated | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 392 | 388 |
SPPC | ||
Disaggregation of Revenue [Line Items] | ||
Other revenue | 0 | 1 |
Operating revenue | 400 | 279 |
SPPC | Regulated electric | ||
Disaggregation of Revenue [Line Items] | ||
Other revenue | 0 | 0 |
Operating revenue | 304 | 227 |
SPPC | Regulated natural gas | ||
Disaggregation of Revenue [Line Items] | ||
Other revenue | 0 | 1 |
Operating revenue | 96 | 52 |
SPPC | Regulated | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 400 | 278 |
SPPC | Regulated | Wholesale, transmission and other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 32 | 21 |
SPPC | Regulated | Regulated electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 304 | 227 |
SPPC | Regulated | Regulated electric | Wholesale, transmission and other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 32 | 21 |
SPPC | Regulated | Regulated natural gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 96 | 51 |
SPPC | Regulated | Regulated natural gas | Wholesale, transmission and other | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
SPPC | Regulated | Total retail | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 368 | 257 |
SPPC | Regulated | Total retail | Regulated electric | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 272 | 206 |
SPPC | Regulated | Total retail | Regulated natural gas | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 96 | 51 |
SPPC | Regulated | Customer Revenue | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 367 | 256 |
SPPC | Regulated | Customer Revenue | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 175 | 117 |
SPPC | Regulated | Customer Revenue | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 118 | 85 |
SPPC | Regulated | Customer Revenue | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 72 | 53 |
SPPC | Regulated | Customer Revenue | Other retail | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 2 | 1 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 271 | 205 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 115 | 85 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 91 | 70 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 63 | 49 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Other retail | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 2 | 1 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 96 | 51 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 60 | 32 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 27 | 15 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 9 | 4 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Other retail | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 0 | 0 |
SPPC | Regulated | Distribution only service | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 1 | 1 |
SPPC | Regulated | Distribution only service | Regulated electric | Retail electric | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | 1 | 1 |
SPPC | Regulated | Distribution only service | Regulated natural gas | Retail gas | ||
Disaggregation of Revenue [Line Items] | ||
Total Customer Revenue | $ 0 | $ 0 |
Revenue from Contracts with _10
Revenue from Contracts with Customers - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Revenue from External Customer [Line Items] | |||
Operating revenue | $ 6,346 | $ 6,030 | |
EEGH | |||
Revenue from External Customer [Line Items] | |||
Total Customer Revenue | 551 | 488 | |
Other revenue | 2 | (6) | |
Operating revenue | 553 | 482 | |
Contract liability | 70 | $ 80 | |
Contract liability, revenue recognized | 22 | ||
Regulated | EEGH | |||
Revenue from External Customer [Line Items] | |||
Total Customer Revenue | 334 | 285 | |
Nonregulated | EEGH | |||
Revenue from External Customer [Line Items] | |||
Total Customer Revenue | 217 | 203 | |
Gas transmission and storage | Regulated | |||
Revenue from External Customer [Line Items] | |||
Total Customer Revenue | 392 | 388 | |
Gas transmission and storage | Regulated | EEGH | |||
Revenue from External Customer [Line Items] | |||
Total Customer Revenue | 332 | 285 | |
Other | Regulated | |||
Revenue from External Customer [Line Items] | |||
Total Customer Revenue | 34 | 22 | |
Other | Regulated | EEGH | |||
Revenue from External Customer [Line Items] | |||
Total Customer Revenue | $ 2 | $ 0 |
Revenue from Contracts with _11
Revenue from Contracts with Customers - EEGH - Remaining Performance Obligation (Details) $ in Millions | Mar. 31, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 23,422 |
EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 16,997 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,276 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | 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]: 2024-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,146 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 15,340 |
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 | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Revenue from External Customer [Line Items] | ||
Operating revenue | $ 6,346 | $ 6,030 |
EGTS | ||
Revenue from External Customer [Line Items] | ||
Total Customer Revenue | 277 | 230 |
Other revenue | 1 | (7) |
Operating revenue | 278 | 223 |
Regulated | EGTS | ||
Revenue from External Customer [Line Items] | ||
Total Customer Revenue | 260 | 212 |
Nonregulated | EGTS | ||
Revenue from External Customer [Line Items] | ||
Total Customer Revenue | 17 | 18 |
Gas transmission | Regulated | EGTS | ||
Revenue from External Customer [Line Items] | ||
Total Customer Revenue | 191 | 165 |
Gas storage | Regulated | EGTS | ||
Revenue from External Customer [Line Items] | ||
Total Customer Revenue | 67 | 47 |
Other | Regulated | ||
Revenue from External Customer [Line Items] | ||
Total Customer Revenue | 34 | 22 |
Other | Regulated | EGTS | ||
Revenue from External Customer [Line Items] | ||
Total Customer Revenue | $ 2 | $ 0 |
Revenue from Contracts with _13
Revenue from Contracts with Customers - EGTS - Remaining Performance Obligation (Details) $ in Millions | Mar. 31, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 23,422 |
EGTS | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 4,136 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,276 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | EGTS | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 746 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,146 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | EGTS | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,390 |
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 | 3 Months Ended | |
Jan. 31, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | |
MEC | |||
Class of Stock [Line Items] | |||
Dividends paid | $ 100 | $ 100 | $ 0 |
Member's Equity - MidAmerican F
Member's Equity - MidAmerican Funding (Details) $ in Millions | 1 Months Ended |
Jan. 31, 2023 USD ($) | |
MidAmerican Funding, LLC | |
Class of Stock [Line Items] | |
Distribution paid to parent | $ 100 |
Components of Accumulated Oth_3
Components of Accumulated Other Comprehensive Loss, Net - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance | $ 50,639 | $ 50,589 |
Other comprehensive income (loss) | 40 | (18) |
Balance | 51,651 | 50,424 |
Accumulated Other Comprehensive (Loss) Income, Net | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance | (2,149) | (1,340) |
Other comprehensive income (loss) | 40 | (18) |
Balance | (2,109) | (1,358) |
Unrecognized Amounts on Retirement Benefits | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance | (390) | (318) |
Other comprehensive income (loss) | (4) | 15 |
Balance | (394) | (303) |
Foreign Currency Translation Adjustment | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance | (1,896) | (1,086) |
Other comprehensive income (loss) | 99 | (110) |
Balance | (1,797) | (1,196) |
Unrealized Losses on Cash Flow Hedges | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance | 135 | 59 |
Other comprehensive income (loss) | (55) | 77 |
Balance | 80 | 136 |
Noncontrolling Interest | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Balance | (2) | (5) |
Other comprehensive income (loss) | 0 | 0 |
Balance | $ (2) | $ (5) |
Components of Accumulated Oth_4
Components of Accumulated Other Comprehensive Loss, Net - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||
Balance | $ 50,639 | $ 50,589 |
Other comprehensive income (loss) | 40 | (18) |
Balance | 51,651 | 50,424 |
EEGH | ||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||
Balance | 7,888 | 7,494 |
Other comprehensive income (loss) | (3) | 5 |
Balance | 8,005 | 7,590 |
Accumulated Other Comprehensive (Loss) Income, Net | ||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||
Balance | (2,149) | (1,340) |
Other comprehensive income (loss) | 40 | (18) |
Balance | (2,109) | (1,358) |
Accumulated Other Comprehensive (Loss) Income, Net | EEGH | ||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||
Balance | (42) | (43) |
Other comprehensive income (loss) | (3) | 5 |
Balance | (45) | (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) | (4) | 15 |
Balance | (394) | (303) |
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) | (1) | 1 |
Balance | (2) | (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) | (55) | 77 |
Balance | 80 | 136 |
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) | (2) | 4 |
Balance | (45) | (38) |
Noncontrolling Interest | ||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||
Balance | (2) | (5) |
Other comprehensive income (loss) | 0 | 0 |
Balance | (2) | (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 |
Balance | $ (2) | $ (5) |
Segment Information - BHE (Deta
Segment Information - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Segment Reporting Information [Line Items] | |||
Operating revenue | $ 6,346 | $ 6,030 | |
Depreciation and amortization | 1,063 | 1,022 | |
Operating income (loss) | 667 | 1,236 | |
Interest expense | 586 | 532 | |
Capitalized interest | 24 | 17 | |
Allowance for equity funds | 49 | 38 | |
Interest and dividend income | 86 | 23 | |
Gains (losses) on marketable securities, net | 699 | (1,257) | |
Other, net | 40 | 5 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) | |
Total earnings (loss) on common shares | 981 | (145) | |
Assets | 134,454 | $ 133,840 | |
PAC | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 1,484 | 1,297 | |
Depreciation and amortization | 279 | 280 | |
Operating income (loss) | (167) | 216 | |
Interest expense | 124 | 106 | |
Total earnings (loss) on common shares | (120) | 130 | |
Assets | 30,268 | 30,559 | |
MidAmerican Funding | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 920 | 1,005 | |
Depreciation and amortization | 234 | 250 | |
Operating income (loss) | 88 | 100 | |
Interest expense | 84 | 82 | |
Total earnings (loss) on common shares | 249 | 241 | |
Assets | 25,899 | 26,077 | |
NV Energy | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 999 | 693 | |
Depreciation and amortization | 152 | 140 | |
Operating income (loss) | 57 | 62 | |
Interest expense | 63 | 51 | |
Total earnings (loss) on common shares | 34 | 29 | |
Assets | 17,210 | 16,676 | |
Northern Powergrid | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 354 | 315 | |
Depreciation and amortization | 85 | 80 | |
Operating income (loss) | 146 | 159 | |
Interest expense | 30 | 32 | |
Total earnings (loss) on common shares | 11 | 111 | |
Assets | 9,216 | 9,005 | |
BHE Pipeline Group | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 1,173 | 1,035 | |
Depreciation and amortization | 172 | 131 | |
Operating income (loss) | 584 | 538 | |
Interest expense | 39 | 37 | |
Total earnings (loss) on common shares | 369 | 322 | |
Assets | 20,931 | 21,005 | |
BHE Transmission | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 205 | 183 | |
Depreciation and amortization | 61 | 58 | |
Operating income (loss) | 88 | 83 | |
Interest expense | 37 | 38 | |
Total earnings (loss) on common shares | 64 | 62 | |
Assets | 9,380 | 9,334 | |
BHE Renewables | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 393 | 336 | |
Depreciation and amortization | 66 | 66 | |
Operating income (loss) | (69) | 54 | |
Interest expense | 45 | 42 | |
Total earnings (loss) on common shares | 79 | 145 | |
Assets | 11,693 | 12,632 | |
HomeServices | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 875 | 1,207 | |
Depreciation and amortization | 13 | 15 | |
Operating income (loss) | (45) | 28 | |
Interest expense | 4 | 1 | |
Total earnings (loss) on common shares | (34) | 21 | |
Assets | 3,625 | 3,436 | |
BHE and Other | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | (57) | (41) | |
Depreciation and amortization | 1 | 2 | |
Operating income (loss) | (15) | (4) | |
Interest expense | 160 | 143 | |
Total earnings (loss) on common shares | 329 | (1,206) | |
Assets | 6,232 | $ 5,116 | |
U.S. | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 5,815 | 5,534 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 819 | (654) | |
United Kingdom | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 333 | 315 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 113 | 139 | |
Canada | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 177 | 181 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 43 | 46 | |
Australia | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 21 | 0 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5 | 0 | |
Other | |||
Segment Reporting Information [Line Items] | |||
Income (loss) before income tax expense (benefit) and equity income (loss) | $ (1) | $ (1) |
Segment Information - BHE - Goo
Segment Information - BHE - Goodwill (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
Goodwill [Roll Forward] | |
Beginning balance | $ 11,489 |
Foreign currency translation | 14 |
Ending balance | 11,503 |
PAC | |
Goodwill [Roll Forward] | |
Beginning balance | 1,129 |
Foreign currency translation | 0 |
Ending balance | 1,129 |
MidAmerican Funding | |
Goodwill [Roll Forward] | |
Beginning balance | 2,102 |
Foreign currency translation | 0 |
Ending balance | 2,102 |
NV Energy | |
Goodwill [Roll Forward] | |
Beginning balance | 2,369 |
Foreign currency translation | 0 |
Ending balance | 2,369 |
Northern Powergrid | |
Goodwill [Roll Forward] | |
Beginning balance | 917 |
Foreign currency translation | 13 |
Ending balance | 930 |
BHE Pipeline Group | |
Goodwill [Roll Forward] | |
Beginning balance | 1,814 |
Foreign currency translation | 0 |
Ending balance | 1,814 |
BHE Transmission | |
Goodwill [Roll Forward] | |
Beginning balance | 1,461 |
Foreign currency translation | 1 |
Ending balance | 1,462 |
BHE Renewables | |
Goodwill [Roll Forward] | |
Beginning balance | 95 |
Foreign currency translation | 0 |
Ending balance | 95 |
HomeServices | |
Goodwill [Roll Forward] | |
Beginning balance | 1,602 |
Foreign currency translation | 0 |
Ending balance | $ 1,602 |
Segment Information - MEC (Deta
Segment Information - MEC (Details) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 USD ($) operatingSegment reportableSegment | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable segments | operatingSegment | 8 | ||
Operating revenue | $ 6,346 | $ 6,030 | |
Operating income (loss) | 667 | 1,236 | |
Interest expense | (586) | (532) | |
Allowance for equity funds | 49 | 38 | |
Other, net | 40 | 5 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) | |
Assets | $ 134,454 | $ 133,840 | |
MEC | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | reportableSegment | 2 | ||
Operating revenue | $ 920 | 1,005 | |
Operating income (loss) | 88 | 100 | |
Interest expense | (80) | (78) | |
Allowance for borrowed funds | 4 | 4 | |
Allowance for equity funds | 11 | 15 | |
Other, net | 16 | (3) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 39 | 38 | |
Assets | 23,807 | 23,978 | |
MEC | Regulated electric | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 591 | 608 | |
Operating income (loss) | 50 | 51 | |
Assets | 22,091 | 22,092 | |
MEC | Regulated natural gas | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 326 | 396 | |
Operating income (loss) | 38 | 49 | |
Assets | 1,716 | 1,885 | |
MEC | Other | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 3 | $ 1 | |
Assets | $ 0 | $ 1 |
Segment Information - LLC (Deta
Segment Information - LLC (Details) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 USD ($) reportableSegment operatingSegment | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable segments | operatingSegment | 8 | ||
Operating revenue | $ 6,346 | $ 6,030 | |
Operating income (loss) | 667 | 1,236 | |
Interest expense | (586) | (532) | |
Allowance for equity funds | 49 | 38 | |
Other, net | 40 | 5 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) | |
Assets | $ 134,454 | $ 133,840 | |
MidAmerican Funding, LLC | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | reportableSegment | 2 | ||
Operating revenue | $ 920 | 1,005 | |
Operating income (loss) | 88 | 100 | |
Interest expense | (84) | (82) | |
Allowance for borrowed funds | 4 | 4 | |
Allowance for equity funds | 11 | 15 | |
Other, net | 28 | (4) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 47 | 33 | |
Assets | 25,087 | 25,254 | |
MidAmerican Funding, LLC | Regulated electric | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 591 | 608 | |
Operating income (loss) | 50 | 51 | |
Assets | 23,282 | 23,283 | |
MidAmerican Funding, LLC | Regulated natural gas | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 326 | 396 | |
Operating income (loss) | 38 | 49 | |
Assets | 1,795 | 1,963 | |
MidAmerican Funding, LLC | Other | |||
Segment Reporting Information [Line Items] | |||
Operating revenue | 3 | $ 1 | |
Assets | $ 10 | $ 8 |
Segment Information - SPPC (Det
Segment Information - SPPC (Details) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 USD ($) operatingSegment reportableSegment | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable segments | operatingSegment | 8 | ||
Operating revenue | $ 6,346 | $ 6,030 | |
Operating income (loss) | 667 | 1,236 | |
Interest expense | (586) | (532) | |
Allowance for equity funds | 49 | 38 | |
Interest and dividend income | 86 | 23 | |
Other, net | 40 | 5 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 979 | (470) | |
Assets | $ 134,454 | $ 133,840 | |
SPPC | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | reportableSegment | 2 | ||
Operating revenue | $ 400 | 279 | |
Operating income (loss) | 35 | 38 | |
Interest expense | (16) | (13) | |
Capitalized interest | 2 | 1 | |
Allowance for equity funds | 2 | 2 | |
Interest and dividend income | 7 | 3 | |
Other, net | 1 | 2 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 31 | 33 | |
Assets | 4,683 | 4,732 | |
SPPC | Regulated electric | |||
Segment Reporting Information [Line Items] | |||
Regulated electric | 304 | 227 | |
Operating revenue | 304 | 227 | |
Operating income (loss) | 25 | 30 | |
Assets | 4,193 | 4,224 | |
SPPC | Regulated natural gas | |||
Segment Reporting Information [Line Items] | |||
Regulated natural gas | 96 | 52 | |
Operating revenue | 96 | 52 | |
Operating income (loss) | 10 | $ 8 | |
Assets | 460 | 441 | |
SPPC | Other | |||
Segment Reporting Information [Line Items] | |||
Assets | $ 30 | $ 67 |