Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 01, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
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 | 1615 Locust Street | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309-3037 | |
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 | 2024 | |
Document Fiscal Period Focus | Q2 | |
Entity Central Index Key | 0001081316 | |
Current Fiscal Year End Date | --12-31 | |
Former Address | ||
Document Information [Line Items] | ||
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 | |
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 2000 | |
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 | 1615 Locust Street | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309-3037 | |
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 | |
MidAmerican Funding, LLC | Former Address | ||
Document Information [Line Items] | ||
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 | |
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 | 1615 Locust Street | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309-3037 | |
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 | |
MEC | Former Address | ||
Document Information [Line Items] | ||
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 | |
NPC | ||
Document Information [Line Items] | ||
Entity File Number | 000-52378 | |
Entity Registrant Name | NEVADA POWER COMPANY | |
Entity Tax Identification Number | 88-0420104 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 6226 West Sahara Avenue | |
Entity Address, City or Town | Las Vegas | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89146 | |
City Area Code | 702 | |
Local Phone Number | 402-5000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,000 | |
Entity Central Index Key | 0000071180 | |
SPPC | ||
Document Information [Line Items] | ||
Entity File Number | 000-00508 | |
Entity Registrant Name | SIERRA PACIFIC POWER COMPANY | |
Entity Tax Identification Number | 88-0044418 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 6100 Neil Road | |
Entity Address, City or Town | Reno | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89511 | |
City Area Code | 775 | |
Local Phone Number | 834-4011 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,000 | |
Entity Central Index Key | 0000090144 | |
EEGH | ||
Document Information [Line Items] | ||
Entity File Number | 001-37591 | |
Entity Registrant Name | EASTERN ENERGY GAS HOLDINGS, LLC | |
Entity Tax Identification Number | 46-3639580 | |
Entity Incorporation, State or Country Code | VA | |
Entity Address, Address Line One | 10700 Energy Way | |
Entity Address, City or Town | Glen Allen | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23060 | |
City Area Code | 804 | |
Local Phone Number | 613-5100 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Central Index Key | 0001603291 | |
EEGH | Former Address | ||
Document Information [Line Items] | ||
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 | |
EGTS | ||
Document Information [Line Items] | ||
Entity File Number | 333-266049 | |
Entity Registrant Name | EASTERN GAS TRANSMISSION AND STORAGE, INC. | |
Entity Tax Identification Number | 55-0629203 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 10700 Energy Way | |
Entity Address, City or Town | Glen Allen | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23060 | |
City Area Code | 804 | |
Local Phone Number | 613-5100 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 60,101 | |
Entity Central Index Key | 0001936737 | |
EGTS | Former Address | ||
Document Information [Line Items] | ||
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 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 3,265 | $ 1,565 |
Investments and restricted cash and cash equivalents | 1,911 | 1,253 |
Trade receivables, net | 2,685 | 2,667 |
Inventories | 1,755 | 1,509 |
Mortgage loans held for sale | 705 | 451 |
Regulatory assets | 1,176 | 1,398 |
Other current assets | 960 | 1,355 |
Total current assets | 12,457 | 10,198 |
Property, plant and equipment, net | 101,012 | 99,248 |
Goodwill | 11,494 | 11,547 |
Regulatory assets | 4,216 | 4,167 |
Investments and restricted cash and cash equivalents and investments | 8,847 | 9,510 |
Other assets | 3,112 | 3,170 |
Total assets | 141,138 | 137,840 |
Current liabilities: | ||
Accounts payable | 2,818 | 3,175 |
Accrued interest | 798 | 625 |
Accrued property, income and other taxes | 1,007 | 828 |
Accrued employee expenses | 499 | 354 |
Short-term debt | 985 | 4,148 |
Current portion of long-term debt | 3,895 | 2,740 |
Other current liabilities | 2,227 | 1,551 |
Total current liabilities | 12,229 | 13,421 |
BHE senior debt | 11,455 | 13,101 |
BHE junior subordinated debentures | 100 | 100 |
Subsidiary debt | 41,020 | 36,231 |
Regulatory liabilities | 6,876 | 6,644 |
Deferred income taxes | 12,235 | 12,437 |
Other long-term liabilities | 6,017 | 6,166 |
Total liabilities | 89,932 | 88,100 |
Commitments and contingencies | ||
BHE shareholders' equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 5,573 |
Retained earnings | 46,371 | 44,765 |
Accumulated other comprehensive loss, net | (2,033) | (1,904) |
Total shareholder's equity | 49,911 | 48,434 |
Noncontrolling interests | 1,295 | 1,306 |
Total equity | 51,206 | 49,740 |
Total liabilities and equity | $ 141,138 | $ 137,840 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Common stock, shares authorized (in shares) | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 76 | 76 |
Common stock, shares outstanding (in shares) | 76 | 76 |
Consolidated Balance Sheets (_3
Consolidated Balance Sheets (Unaudited) - PAC - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 3,265 | $ 1,565 |
Inventories | 1,755 | 1,509 |
Regulatory assets | 1,176 | 1,398 |
Other current assets | 960 | 1,355 |
Total current assets | 12,457 | 10,198 |
Regulatory assets | 4,216 | 4,167 |
Other assets | 3,112 | 3,170 |
Total assets | 141,138 | 137,840 |
Current liabilities: | ||
Accounts payable | 2,818 | 3,175 |
Accrued interest | 798 | 625 |
Accrued property, income and other taxes | 1,007 | 828 |
Accrued employee expenses | 499 | 354 |
Short-term debt | 985 | 4,148 |
Current portion of long-term debt | 3,895 | 2,740 |
Other current liabilities | 2,227 | 1,551 |
Total current liabilities | 12,229 | 13,421 |
Regulatory liabilities | 6,876 | 6,644 |
Deferred income taxes | 12,235 | 12,437 |
Other long-term liabilities | 6,017 | 6,166 |
Total liabilities | 89,932 | 88,100 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 5,573 |
Retained earnings | 46,371 | 44,765 |
Accumulated other comprehensive loss, net | (2,033) | (1,904) |
Total shareholder's equity | 49,911 | 48,434 |
Total liabilities and equity | 141,138 | 137,840 |
PAC | ||
Current assets: | ||
Cash and cash equivalents | 1,289 | 138 |
Trade receivables, net | 904 | 853 |
Other receivables, net | 135 | 447 |
Inventories | 690 | 532 |
Derivative contracts | 5 | 16 |
Regulatory assets | 889 | 631 |
Prepaid expenses | 146 | 188 |
Other current assets | 80 | 182 |
Total current assets | 4,138 | 2,987 |
Property, plant and equipment, net | 27,941 | 27,051 |
Regulatory assets | 1,904 | 1,942 |
Other assets | 625 | 630 |
Total assets | 34,608 | 32,610 |
Current liabilities: | ||
Accounts payable | 1,396 | 1,560 |
Accrued interest | 254 | 152 |
Accrued property, income and other taxes | 128 | 65 |
Accrued employee expenses | 138 | 93 |
Short-term debt | 0 | 1,604 |
Current portion of long-term debt | 166 | 591 |
Regulatory liabilities | 74 | 70 |
Wildfires liabilities (Note 11) | 445 | 4 |
Other current liabilities | 463 | 437 |
Total current liabilities | 3,064 | 4,576 |
Long-term debt | 13,584 | 9,819 |
Regulatory liabilities | 2,587 | 2,540 |
Deferred income taxes | 3,059 | 3,085 |
Wildfires liabilities | 1,438 | 1,719 |
Other long-term liabilities | 852 | 899 |
Total liabilities | 24,584 | 22,638 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 2 | 2 |
Common stock | 0 | 0 |
Additional paid-in capital | 4,479 | 4,479 |
Retained earnings | 5,553 | 5,501 |
Accumulated other comprehensive loss, net | (10) | (10) |
Total shareholder's equity | 10,024 | 9,972 |
Total liabilities and equity | $ 34,608 | $ 32,610 |
Consolidated Balance Sheets (_4
Consolidated Balance Sheets (Unaudited) - PAC (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Common stock, shares authorized (in shares) | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 76 | 76 |
Common stock, shares outstanding (in shares) | 76 | 76 |
PAC | ||
Common stock, shares authorized (in shares) | 750 | 750 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 357 | 357 |
Common stock, shares outstanding (in shares) | 357 | 357 |
Balance Sheets (Unaudited) - ME
Balance Sheets (Unaudited) - MEC - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 3,265 | $ 1,565 |
Inventories | 1,755 | 1,509 |
Other current assets | 960 | 1,355 |
Total current assets | 12,457 | 10,198 |
Regulatory assets | 4,216 | 4,167 |
Investments and restricted cash and cash equivalents and investments | 8,847 | 9,510 |
Other assets | 3,112 | 3,170 |
Total assets | 141,138 | 137,840 |
Current liabilities: | ||
Accounts payable | 2,818 | 3,175 |
Accrued interest | 798 | 625 |
Accrued property, income and other taxes | 1,007 | 828 |
Current portion of long-term debt | 3,895 | 2,740 |
Other current liabilities | 2,227 | 1,551 |
Total current liabilities | 12,229 | 13,421 |
Regulatory liabilities | 6,876 | 6,644 |
Deferred income taxes | 12,235 | 12,437 |
Other long-term liabilities | 6,017 | 6,166 |
Total liabilities | 89,932 | 88,100 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 5,573 |
Retained earnings | 46,371 | 44,765 |
Total shareholder's equity | 49,911 | 48,434 |
Total liabilities and equity | 141,138 | 137,840 |
MEC | ||
Current assets: | ||
Cash and cash equivalents | 930 | 636 |
Trade receivables, net | 261 | 272 |
Income tax receivable | 201 | 1 |
Inventories | 386 | 364 |
Prepaid expenses | 119 | 113 |
Other current assets | 65 | 39 |
Total current assets | 1,962 | 1,425 |
Property, plant and equipment, net | 22,212 | 21,970 |
Regulatory assets | 624 | 600 |
Investments and restricted cash and cash equivalents and investments | 1,105 | 1,030 |
Other assets | 190 | 210 |
Total assets | 26,093 | 25,235 |
Current liabilities: | ||
Accounts payable | 350 | 543 |
Accrued interest | 135 | 106 |
Accrued property, income and other taxes | 293 | 197 |
Current portion of long-term debt | 552 | 539 |
Other current liabilities | 172 | 102 |
Total current liabilities | 1,502 | 1,487 |
Long-term debt | 8,807 | 8,227 |
Regulatory liabilities | 1,280 | 1,079 |
Deferred income taxes | 3,480 | 3,494 |
Asset retirement obligations | 784 | 768 |
Other long-term liabilities | 587 | 577 |
Total liabilities | 16,440 | 15,632 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 561 | 561 |
Retained earnings | 9,092 | 9,042 |
Total shareholder's equity | 9,653 | 9,603 |
Total liabilities and equity | $ 26,093 | $ 25,235 |
Balance Sheets (Unaudited) - _2
Balance Sheets (Unaudited) - MEC (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Common stock, shares authorized (in shares) | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 76 | 76 |
Common stock, shares outstanding (in shares) | 76 | 76 |
MEC | ||
Common stock, shares authorized (in shares) | 350 | 350 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 71 | 71 |
Common stock, shares outstanding (in shares) | 71 | 71 |
Consolidated Balance Sheets (_5
Consolidated Balance Sheets (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 3,265 | $ 1,565 |
Inventories | 1,755 | 1,509 |
Other current assets | 960 | 1,355 |
Total current assets | 12,457 | 10,198 |
Property, plant and equipment, net | 101,012 | 99,248 |
Goodwill | 11,494 | 11,547 |
Regulatory assets | 4,216 | 4,167 |
Investments and restricted cash and cash equivalents and investments | 8,847 | 9,510 |
Other assets | 3,112 | 3,170 |
Total assets | 141,138 | 137,840 |
Current liabilities: | ||
Accounts payable | 2,818 | 3,175 |
Accrued interest | 798 | 625 |
Accrued property, income and other taxes | 1,007 | 828 |
Current portion of long-term debt | 3,895 | 2,740 |
Other current liabilities | 2,227 | 1,551 |
Total current liabilities | 12,229 | 13,421 |
Regulatory liabilities | 6,876 | 6,644 |
Deferred income taxes | 12,235 | 12,437 |
Other long-term liabilities | 6,017 | 6,166 |
Total liabilities | 89,932 | 88,100 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 5,573 | 5,573 |
Retained earnings | 46,371 | 44,765 |
Total shareholder's equity | 49,911 | 48,434 |
Total liabilities and equity | 141,138 | 137,840 |
MidAmerican Funding, LLC | ||
Current assets: | ||
Cash and cash equivalents | 933 | 637 |
Trade receivables, net | 261 | 272 |
Income tax receivable | 201 | 1 |
Inventories | 386 | 364 |
Prepaid expenses | 119 | 113 |
Other current assets | 65 | 40 |
Total current assets | 1,965 | 1,427 |
Property, plant and equipment, net | 22,213 | 21,971 |
Goodwill | 1,270 | 1,270 |
Regulatory assets | 624 | 600 |
Investments and restricted cash and cash equivalents and investments | 1,107 | 1,032 |
Other assets | 189 | 209 |
Total assets | 27,368 | 26,509 |
Current liabilities: | ||
Accounts payable | 350 | 543 |
Accrued interest | 140 | 112 |
Accrued property, income and other taxes | 293 | 197 |
Note payable to affiliate | 8 | 0 |
Current portion of long-term debt | 552 | 539 |
Other current liabilities | 172 | 102 |
Total current liabilities | 1,515 | 1,493 |
Long-term debt | 9,047 | 8,467 |
Regulatory liabilities | 1,280 | 1,079 |
Deferred income taxes | 3,479 | 3,492 |
Asset retirement obligations | 784 | 768 |
Other long-term liabilities | 586 | 577 |
Total liabilities | 16,691 | 15,876 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 1,679 | 1,679 |
Retained earnings | 8,998 | 8,954 |
Total shareholder's equity | 10,677 | 10,633 |
Total liabilities and equity | $ 27,368 | $ 26,509 |
Consolidated Balance Sheets (_6
Consolidated Balance Sheets (Unaudited) - NPC - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 3,265 | $ 1,565 |
Inventories | 1,755 | 1,509 |
Regulatory assets | 1,176 | 1,398 |
Other current assets | 960 | 1,355 |
Total current assets | 12,457 | 10,198 |
Regulatory assets | 4,216 | 4,167 |
Other assets | 3,112 | 3,170 |
Total assets | 141,138 | 137,840 |
Current liabilities: | ||
Accounts payable | 2,818 | 3,175 |
Accrued interest | 798 | 625 |
Accrued property, income and other taxes | 1,007 | 828 |
Other current liabilities | 2,227 | 1,551 |
Total current liabilities | 12,229 | 13,421 |
Regulatory liabilities | 6,876 | 6,644 |
Deferred income taxes | 12,235 | 12,437 |
Other long-term liabilities | 6,017 | 6,166 |
Total liabilities | 89,932 | 88,100 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 5,573 |
Retained earnings | 46,371 | 44,765 |
Accumulated other comprehensive loss, net | (2,033) | (1,904) |
Total shareholder's equity | 49,911 | 48,434 |
Total liabilities and equity | 141,138 | 137,840 |
NPC | ||
Current assets: | ||
Cash and cash equivalents | 111 | 20 |
Trade receivables, net | 469 | 374 |
Inventories | 155 | 129 |
Regulatory assets | 180 | 586 |
Other current assets | 100 | 63 |
Total current assets | 1,015 | 1,172 |
Property, plant and equipment, net | 9,019 | 8,658 |
Regulatory assets | 517 | 499 |
Other assets | 396 | 398 |
Total assets | 10,947 | 10,727 |
Current liabilities: | ||
Accounts payable | 420 | 466 |
Accrued interest | 46 | 44 |
Accrued property, income and other taxes | 34 | 65 |
Regulatory liabilities | 36 | 43 |
Customer deposits | 94 | 59 |
Derivative contracts | 85 | 62 |
Other current liabilities | 65 | 48 |
Total current liabilities | 780 | 787 |
Long-term debt | 3,393 | 3,392 |
Finance lease obligations | 274 | 279 |
Regulatory liabilities | 1,003 | 1,017 |
Deferred income taxes | 782 | 836 |
Other long-term liabilities | 539 | 452 |
Total liabilities | 6,771 | 6,763 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 2,833 | 2,733 |
Retained earnings | 1,344 | 1,232 |
Accumulated other comprehensive loss, net | (1) | (1) |
Total shareholder's equity | 4,176 | 3,964 |
Total liabilities and equity | $ 10,947 | $ 10,727 |
Consolidated Balance Sheets (_7
Consolidated Balance Sheets (Unaudited) - NPC (Parenthetical) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
Common stock, shares authorized (in shares) | 115,000,000 | 115,000,000 |
Common stock, shares issued (in shares) | 76,000,000 | 76,000,000 |
Common stock, shares outstanding (in shares) | 76,000,000 | 76,000,000 |
NPC | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, shares issued (in shares) | 1,000 | 1,000 |
Common stock, shares outstanding (in shares) | 1,000 | 1,000 |
Consolidated Balance Sheets (_8
Consolidated Balance Sheets (Unaudited) - SPPC - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 3,265 | $ 1,565 |
Inventories | 1,755 | 1,509 |
Regulatory assets | 1,176 | 1,398 |
Other current assets | 960 | 1,355 |
Total current assets | 12,457 | 10,198 |
Regulatory assets | 4,216 | 4,167 |
Other assets | 3,112 | 3,170 |
Total assets | 141,138 | 137,840 |
Current liabilities: | ||
Accounts payable | 2,818 | 3,175 |
Accrued interest | 798 | 625 |
Accrued property, income and other taxes | 1,007 | 828 |
Other current liabilities | 2,227 | 1,551 |
Total current liabilities | 12,229 | 13,421 |
Regulatory liabilities | 6,876 | 6,644 |
Deferred income taxes | 12,235 | 12,437 |
Other long-term liabilities | 6,017 | 6,166 |
Total liabilities | 89,932 | 88,100 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 5,573 |
Retained earnings | 46,371 | 44,765 |
Accumulated other comprehensive loss, net | (2,033) | (1,904) |
Total shareholder's equity | 49,911 | 48,434 |
Total liabilities and equity | 141,138 | 137,840 |
SPPC | ||
Current assets: | ||
Cash and cash equivalents | 70 | 44 |
Trade receivables, net | 152 | 180 |
Inventories | 139 | 117 |
Regulatory assets | 89 | 161 |
Other current assets | 45 | 35 |
Total current assets | 495 | 537 |
Property, plant and equipment, net | 4,040 | 3,822 |
Regulatory assets | 221 | 220 |
Other assets | 195 | 193 |
Total assets | 4,951 | 4,772 |
Current liabilities: | ||
Accounts payable | 260 | 228 |
Accrued interest | 19 | 18 |
Accrued property, income and other taxes | 16 | 21 |
Regulatory liabilities | 81 | 15 |
Customer deposits | 35 | 21 |
Derivative contracts | 24 | 16 |
Other current liabilities | 39 | 30 |
Total current liabilities | 474 | 349 |
Long-term debt, carrying value | 1,526 | 1,293 |
Regulatory liabilities | 419 | 424 |
Deferred income taxes | 375 | 404 |
Other long-term liabilities | 270 | 237 |
Total liabilities | 3,064 | 2,707 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 1,576 | 1,576 |
Retained earnings | 312 | 490 |
Accumulated other comprehensive loss, net | (1) | (1) |
Total shareholder's equity | 1,887 | 2,065 |
Total liabilities and equity | $ 4,951 | $ 4,772 |
Consolidated Balance Sheets (_9
Consolidated Balance Sheets (Unaudited) - SPPC (Parenthetical) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
Common stock, shares authorized (in shares) | 115,000,000 | 115,000,000 |
Common stock, shares issued (in shares) | 76,000,000 | 76,000,000 |
Common stock, shares outstanding (in shares) | 76,000,000 | 76,000,000 |
SPPC | ||
Common stock, par value (in dollars per share) | $ 3.75 | $ 3.75 |
Common stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, shares issued (in shares) | 1,000 | 1,000 |
Common stock, shares outstanding (in shares) | 1,000 | 1,000 |
Consolidated Balance Sheets _10
Consolidated Balance Sheets (Unaudited) - EEGH - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 3,265 | $ 1,565 |
Trade receivables, net | 2,685 | 2,667 |
Inventories | 1,755 | 1,509 |
Other current assets | 960 | 1,355 |
Total current assets | 12,457 | 10,198 |
Property, plant and equipment, net | 101,012 | 99,248 |
Goodwill | 11,494 | 11,547 |
Investments | 8,847 | 9,510 |
Other assets | 3,112 | 3,170 |
Total assets | 141,138 | 137,840 |
Current liabilities: | ||
Accounts payable | 2,818 | 3,175 |
Accrued property, income and other taxes | 1,007 | 828 |
Current portion of long-term debt | 3,895 | 2,740 |
Other current liabilities | 2,227 | 1,551 |
Total current liabilities | 12,229 | 13,421 |
Regulatory liabilities | 6,876 | 6,644 |
Deferred income taxes | 12,235 | 12,437 |
Other long-term liabilities | 6,017 | 6,166 |
Total liabilities | 89,932 | 88,100 |
Commitments and contingencies | ||
Member's equity: | ||
Accumulated other comprehensive loss, net | (2,033) | (1,904) |
Total liabilities and equity | 141,138 | 137,840 |
EEGH | ||
Current assets: | ||
Cash and cash equivalents | 107 | 62 |
Trade receivables, net | 156 | 195 |
Receivables from affiliates | $ 28 | $ 25 |
Other receivable, related party type | Affiliated Entity [Member] | Affiliated Entity [Member] |
Inventories | $ 148 | $ 142 |
Income tax receivable | 19 | 80 |
Prepayments and other deferred charges | 47 | 76 |
Natural gas imbalances | 26 | 39 |
Other current assets | 36 | 51 |
Total current assets | 567 | 670 |
Property, plant and equipment, net | 10,343 | 10,343 |
Goodwill | 1,286 | 1,286 |
Investments | 272 | 281 |
Other assets | 116 | 120 |
Total assets | 12,584 | 12,700 |
Current liabilities: | ||
Accrued property, income and other taxes | 86 | 93 |
Note payable to affiliate | $ 21 | $ 400 |
Notes payable, related party type | Affiliated Entity [Member] | Affiliated Entity [Member] |
Current portion of long-term debt | $ 1,050 | $ 1,050 |
Other current liabilities | 123 | 141 |
Total current liabilities | 1,385 | 1,818 |
Long-term debt | 2,197 | 2,204 |
Regulatory liabilities | 621 | 623 |
Deferred income taxes | 445 | 383 |
Other long-term liabilities | 148 | 144 |
Total liabilities | 4,796 | 5,172 |
Commitments and contingencies | ||
Member's equity: | ||
Membership interests | 6,536 | 6,273 |
Accumulated other comprehensive loss, net | (36) | (40) |
Total member's equity | 6,500 | 6,233 |
Noncontrolling interests | 1,288 | 1,295 |
Total equity | 7,788 | 7,528 |
Total liabilities and equity | 12,584 | 12,700 |
EEGH | Nonrelated party | ||
Current liabilities: | ||
Accounts payable | 77 | 89 |
EEGH | Related party | ||
Current liabilities: | ||
Accounts payable | $ 28 | $ 45 |
Consolidated Balance Sheets _11
Consolidated Balance Sheets (Unaudited) - EGTS - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 3,265 | $ 1,565 |
Investments and restricted cash and cash equivalents | 1,911 | 1,253 |
Trade receivables, net | 2,685 | 2,667 |
Inventories | 1,755 | 1,509 |
Other current assets | 960 | 1,355 |
Total current assets | 12,457 | 10,198 |
Property, plant and equipment, net | 101,012 | 99,248 |
Other assets | 3,112 | 3,170 |
Total assets | 141,138 | 137,840 |
Current liabilities: | ||
Accounts payable | 2,818 | 3,175 |
Accrued property, income and other taxes | 1,007 | 828 |
Accrued employee expenses | 499 | 354 |
Other current liabilities | 2,227 | 1,551 |
Total current liabilities | 12,229 | 13,421 |
Regulatory liabilities | 6,876 | 6,644 |
Other long-term liabilities | 6,017 | 6,166 |
Total liabilities | 89,932 | 88,100 |
Commitments and contingencies | ||
Shareholder's equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 5,573 | 5,573 |
Retained earnings | 46,371 | 44,765 |
Accumulated other comprehensive loss, net | (2,033) | (1,904) |
Total shareholder's equity | 49,911 | 48,434 |
Total liabilities and equity | 141,138 | 137,840 |
EGTS | ||
Current assets: | ||
Cash and cash equivalents | 34 | 5 |
Investments and restricted cash and cash equivalents | 22 | 29 |
Trade receivables, net | 69 | 104 |
Receivables from affiliates | $ 12 | $ 9 |
Other receivable, related party type | Affiliated Entity [Member] | Affiliated Entity [Member] |
Inventories | $ 61 | $ 59 |
Income tax receivable | 23 | 70 |
Prepayments and other deferred charges | 24 | 22 |
Natural gas imbalances | 21 | 34 |
Other current assets | 4 | 5 |
Total current assets | 270 | 337 |
Property, plant and equipment, net | 4,742 | 4,715 |
Other assets | 86 | 92 |
Total assets | 5,098 | 5,144 |
Current liabilities: | ||
Accrued property, income and other taxes | 62 | 58 |
Accrued employee expenses | 24 | 20 |
Note payable to affiliate | 41 | 2 |
Regulatory liabilities | 16 | 22 |
Customer and security deposits | 22 | 29 |
Current portion of long-term debt | 111 | 111 |
Other current liabilities | 23 | 28 |
Total current liabilities | 362 | 340 |
Long-term debt | 1,473 | 1,472 |
Regulatory liabilities | 524 | 523 |
Other long-term liabilities | 154 | 121 |
Total liabilities | 2,513 | 2,456 |
Commitments and contingencies | ||
Shareholder's equity: | ||
Common stock | 609 | 609 |
Additional paid-in capital | 1,339 | 1,304 |
Retained earnings | 664 | 803 |
Accumulated other comprehensive loss, net | (27) | (28) |
Total shareholder's equity | 2,585 | 2,688 |
Total liabilities and equity | 5,098 | 5,144 |
EGTS | Nonrelated party | ||
Current liabilities: | ||
Accounts payable | 42 | 41 |
EGTS | Related party | ||
Current liabilities: | ||
Accounts payable | $ 21 | $ 29 |
Consolidated Balance Sheets _12
Consolidated Balance Sheets (Unaudited) - EGTS (Parenthetical) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
Common stock, shares authorized (in shares) | 115,000,000 | 115,000,000 |
Common stock, shares outstanding (in shares) | 76,000,000 | 76,000,000 |
Common stock, shares issued (in shares) | 76,000,000 | 76,000,000 |
EGTS | ||
Common stock, shares authorized (in shares) | 75,000 | 75,000 |
Common stock, par value (in dollars per share) | $ 10,000 | $ 10,000 |
Common stock, shares outstanding (in shares) | 60,101 | 60,101 |
Common stock, shares issued (in shares) | 60,101 | 60,101 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating revenue: | ||||
Total operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Energy: | ||||
Cost of sales | 1,527 | 1,566 | 3,197 | 3,521 |
Operations and maintenance | 1,310 | 1,151 | 2,545 | 2,334 |
Wildfire losses, net of recoveries | 251 | 49 | 251 | 408 |
Depreciation and amortization | 1,007 | 970 | 2,020 | 2,020 |
Property and other taxes | 214 | 197 | 426 | 409 |
Real estate | 1,240 | 1,250 | 2,326 | 2,170 |
Total operating expenses | 5,549 | 5,183 | 10,765 | 10,862 |
Operating income | 855 | 1,046 | 1,750 | 1,713 |
Other income (expense): | ||||
Interest expense | (675) | (599) | (1,366) | (1,185) |
Capitalized interest | 50 | 33 | 96 | 57 |
Allowance for equity funds | 92 | 61 | 175 | 110 |
Interest and dividend income | 134 | 127 | 250 | 213 |
Gains on marketable securities, net | 329 | 303 | 206 | 1,002 |
Other, net | 25 | 78 | 56 | 118 |
Total other income (expense) | (45) | 3 | (583) | 315 |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 |
Income tax expense (benefit) | (308) | (255) | (679) | (417) |
Equity income (loss) | (125) | (99) | (164) | (137) |
Net income | 993 | 1,205 | 1,682 | 2,308 |
Net income attributable to noncontrolling interests | 39 | 130 | 75 | 244 |
Net income (loss) attributable to parent | 954 | 1,075 | 1,607 | 2,064 |
Preferred dividends | 0 | 9 | 0 | 17 |
Earnings on common shares | 954 | 1,066 | 1,607 | 2,047 |
Energy | ||||
Operating revenue: | ||||
Total operating revenue | 5,115 | 4,933 | 10,360 | 10,404 |
Real estate | ||||
Operating revenue: | ||||
Total operating revenue | $ 1,289 | $ 1,296 | $ 2,155 | $ 2,171 |
Consolidated Statements of Op_2
Consolidated Statements of Operations (Unaudited) - PAC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Operating expenses: | ||||
Cost of sales | 1,527 | 1,566 | 3,197 | 3,521 |
Wildfire losses, net of recoveries | 251 | 49 | 251 | 408 |
Operating income | 855 | 1,046 | 1,750 | 1,713 |
Other income (expense): | ||||
Interest expense | (675) | (599) | (1,366) | (1,185) |
Allowance for borrowed funds | 50 | 33 | 96 | 57 |
Allowance for equity funds | 92 | 61 | 175 | 110 |
Interest and dividend income | 134 | 127 | 250 | 213 |
Other, net | 25 | 78 | 56 | 118 |
Total other income (expense) | (45) | 3 | (583) | 315 |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 |
Income tax expense (benefit) | (308) | (255) | (679) | (417) |
Net income (loss) attributable to parent | 954 | 1,075 | 1,607 | 2,064 |
PAC | ||||
Operating revenue | 1,489 | 1,327 | 3,037 | 2,811 |
Operating expenses: | ||||
Cost of sales | 582 | 462 | 1,214 | 1,076 |
Operations and maintenance | 419 | 354 | 826 | 700 |
Wildfire losses, net of recoveries | 251 | 49 | 251 | 408 |
Depreciation and amortization | 287 | 279 | 579 | 558 |
Property and other taxes | 54 | 52 | 106 | 105 |
Total operating expenses | 1,593 | 1,196 | 2,976 | 2,847 |
Operating income | (104) | 131 | 61 | (36) |
Other income (expense): | ||||
Interest expense | (185) | (134) | (377) | (258) |
Allowance for borrowed funds | 31 | 16 | 59 | 29 |
Allowance for equity funds | 51 | 34 | 100 | 61 |
Interest and dividend income | 50 | 26 | 108 | 45 |
Other, net | 3 | 3 | 7 | 5 |
Total other income (expense) | (50) | (55) | (103) | (118) |
Income before income tax expense (benefit) and equity income (loss) | (154) | 76 | (42) | (154) |
Income tax expense (benefit) | (85) | (30) | (94) | (140) |
Net income (loss) attributable to parent | $ (69) | $ 106 | $ 52 | $ (14) |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - MEC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating revenue: | ||||
Total operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Operating expenses: | ||||
Cost of sales | 1,527 | 1,566 | 3,197 | 3,521 |
Total operating expenses | 5,549 | 5,183 | 10,765 | 10,862 |
Operating income | 855 | 1,046 | 1,750 | 1,713 |
Other income (expense): | ||||
Interest expense | (675) | (599) | (1,366) | (1,185) |
Allowance for equity funds | 92 | 61 | 175 | 110 |
Other, net | 25 | 78 | 56 | 118 |
Total other income (expense) | (45) | 3 | (583) | 315 |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 |
Income tax expense (benefit) | (308) | (255) | (679) | (417) |
Net income (loss) attributable to parent | 954 | 1,075 | 1,607 | 2,064 |
MEC | ||||
Operating revenue: | ||||
Total operating revenue | 730 | 759 | 1,573 | 1,679 |
Operating expenses: | ||||
Operations and maintenance | 248 | 216 | 466 | 421 |
Depreciation and amortization | 228 | 226 | 455 | 460 |
Property and other taxes | 42 | 40 | 84 | 82 |
Total operating expenses | 645 | 641 | 1,412 | 1,473 |
Operating income | 85 | 118 | 161 | 206 |
Other income (expense): | ||||
Interest expense | (105) | (81) | (209) | (161) |
Allowance for borrowed funds | 7 | 4 | 13 | 8 |
Allowance for equity funds | 18 | 13 | 34 | 24 |
Other, net | 19 | 15 | 44 | 31 |
Total other income (expense) | (61) | (49) | (118) | (98) |
Income before income tax expense (benefit) and equity income (loss) | 24 | 69 | 43 | 108 |
Income tax expense (benefit) | (213) | (167) | (432) | (370) |
Net income (loss) attributable to parent | 237 | 236 | 475 | 478 |
Regulated electric | MEC | ||||
Operating revenue: | ||||
Total operating revenue | 635 | 661 | 1,200 | 1,252 |
Operating expenses: | ||||
Cost of sales | 87 | 113 | 190 | 228 |
Regulated natural gas and other | MEC | ||||
Operating revenue: | ||||
Total operating revenue | 95 | 98 | 373 | 427 |
Operating expenses: | ||||
Cost of sales | $ 40 | $ 46 | $ 217 | $ 282 |
Consolidated Statements of Op_3
Consolidated Statements of Operations (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating revenue: | ||||
Total operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Operating expenses: | ||||
Cost of sales | 1,527 | 1,566 | 3,197 | 3,521 |
Total operating expenses | 5,549 | 5,183 | 10,765 | 10,862 |
Operating income | 855 | 1,046 | 1,750 | 1,713 |
Other income (expense): | ||||
Interest expense | (675) | (599) | (1,366) | (1,185) |
Allowance for equity funds | 92 | 61 | 175 | 110 |
Other, net | 25 | 78 | 56 | 118 |
Total other income (expense) | (45) | 3 | (583) | 315 |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 |
Income tax expense (benefit) | (308) | (255) | (679) | (417) |
Net income (loss) attributable to parent | 954 | 1,075 | 1,607 | 2,064 |
MidAmerican Funding, LLC | ||||
Operating revenue: | ||||
Total operating revenue | 730 | 759 | 1,573 | 1,679 |
Operating expenses: | ||||
Operations and maintenance | 248 | 216 | 466 | 421 |
Depreciation and amortization | 228 | 226 | 455 | 460 |
Property and other taxes | 42 | 40 | 84 | 82 |
Total operating expenses | 645 | 641 | 1,412 | 1,473 |
Operating income | 85 | 118 | 161 | 206 |
Other income (expense): | ||||
Interest expense | (110) | (85) | (218) | (169) |
Allowance for borrowed funds | 7 | 4 | 13 | 8 |
Allowance for equity funds | 18 | 13 | 34 | 24 |
Other, net | 20 | 15 | 45 | 43 |
Total other income (expense) | (65) | (53) | (126) | (94) |
Income before income tax expense (benefit) and equity income (loss) | 20 | 65 | 35 | 112 |
Income tax expense (benefit) | (214) | (168) | (434) | (370) |
Net income (loss) attributable to parent | 234 | 233 | 469 | 482 |
Regulated electric | MidAmerican Funding, LLC | ||||
Operating revenue: | ||||
Total operating revenue | 635 | 661 | 1,200 | 1,252 |
Operating expenses: | ||||
Cost of sales | 87 | 113 | 190 | 228 |
Regulated natural gas and other | MidAmerican Funding, LLC | ||||
Operating revenue: | ||||
Total operating revenue | 95 | 98 | 373 | 427 |
Operating expenses: | ||||
Cost of sales | $ 40 | $ 46 | $ 217 | $ 282 |
Consolidated Statements of Op_4
Consolidated Statements of Operations (Unaudited) - NPC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Operating expenses: | ||||
Cost of sales | 1,527 | 1,566 | 3,197 | 3,521 |
Total operating expenses | 5,549 | 5,183 | 10,765 | 10,862 |
Operating income | 855 | 1,046 | 1,750 | 1,713 |
Other income (expense): | ||||
Interest expense | (675) | (599) | (1,366) | (1,185) |
Capitalized interest | 50 | 33 | 96 | 57 |
Allowance for equity funds | 92 | 61 | 175 | 110 |
Interest and dividend income | 134 | 127 | 250 | 213 |
Other, net | 25 | 78 | 56 | 118 |
Total other income (expense) | (45) | 3 | (583) | 315 |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 |
Income tax expense (benefit) | (308) | (255) | (679) | (417) |
Net income (loss) attributable to parent | 954 | 1,075 | 1,607 | 2,064 |
NPC | ||||
Operating revenue | 801 | 781 | 1,362 | 1,380 |
Operating expenses: | ||||
Cost of sales | 482 | 493 | 823 | 877 |
Operations and maintenance | 76 | 78 | 147 | 151 |
Depreciation and amortization | 92 | 108 | 184 | 214 |
Property and other taxes | 14 | 14 | 29 | 28 |
Total operating expenses | 664 | 693 | 1,183 | 1,270 |
Operating income | 137 | 88 | 179 | 110 |
Other income (expense): | ||||
Interest expense | (52) | (49) | (105) | (98) |
Capitalized interest | 6 | 7 | 14 | 9 |
Allowance for equity funds | 9 | 4 | 17 | 8 |
Interest and dividend income | 6 | 19 | 15 | 41 |
Other, net | 5 | 4 | 9 | 8 |
Total other income (expense) | (26) | (15) | (50) | (32) |
Income before income tax expense (benefit) and equity income (loss) | 111 | 73 | 129 | 78 |
Income tax expense (benefit) | 14 | 7 | 17 | 8 |
Net income (loss) attributable to parent | $ 97 | $ 66 | $ 112 | $ 70 |
Consolidated Statements of Op_5
Consolidated Statements of Operations (Unaudited) - SPPC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Total operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Cost of sales | 1,527 | 1,566 | 3,197 | 3,521 |
Total operating expenses | 5,549 | 5,183 | 10,765 | 10,862 |
Operating income | 855 | 1,046 | 1,750 | 1,713 |
Interest expense | (675) | (599) | (1,366) | (1,185) |
Allowance for equity funds | 92 | 61 | 175 | 110 |
Interest and dividend income | 134 | 127 | 250 | 213 |
Other, net | 25 | 78 | 56 | 118 |
Total other income (expense) | (45) | 3 | (583) | 315 |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 |
Income tax expense (benefit) | (308) | (255) | (679) | (417) |
Net income (loss) attributable to parent | 954 | 1,075 | 1,607 | 2,064 |
SPPC | ||||
Total operating revenue | 296 | 337 | 642 | 737 |
Operations and maintenance | 59 | 49 | 115 | 105 |
Depreciation and amortization | 47 | 46 | 94 | 92 |
Property and other taxes | 6 | 6 | 12 | 13 |
Total operating expenses | 276 | 311 | 603 | 676 |
Operating income | 20 | 26 | 39 | 61 |
Interest expense | (22) | (15) | (42) | (31) |
Capitalized interest | 2 | 3 | 3 | 5 |
Allowance for equity funds | 6 | 3 | 10 | 5 |
Interest and dividend income | 5 | 5 | 9 | 12 |
Other, net | 2 | 1 | 5 | 2 |
Total other income (expense) | (7) | (3) | (15) | (7) |
Income before income tax expense (benefit) and equity income (loss) | 13 | 23 | 24 | 54 |
Income tax expense (benefit) | 1 | 3 | 2 | 7 |
Net income (loss) attributable to parent | 12 | 20 | 22 | 47 |
SPPC | Regulated electric | ||||
Total operating revenue | 262 | 293 | 522 | 597 |
Cost of sales | 142 | 179 | 293 | 360 |
SPPC | Regulated natural gas | ||||
Total operating revenue | 34 | 44 | 120 | 140 |
Cost of sales | $ 22 | $ 31 | $ 89 | $ 106 |
Consolidated Statements of Op_6
Consolidated Statements of Operations (Unaudited) - EEGH - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Operating expenses: | ||||
Total operating expenses | 5,549 | 5,183 | 10,765 | 10,862 |
Operating income | 855 | 1,046 | 1,750 | 1,713 |
Other income (expense): | ||||
Interest expense | (675) | (599) | (1,366) | (1,185) |
Allowance for equity funds | 92 | 61 | 175 | 110 |
Interest and dividend income | 134 | 127 | 250 | 213 |
Other, net | 25 | 78 | 56 | 118 |
Total other income (expense) | (45) | 3 | (583) | 315 |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 |
Income tax expense (benefit) | (308) | (255) | (679) | (417) |
Equity income (loss) | (125) | (99) | (164) | (137) |
Net income | 993 | 1,205 | 1,682 | 2,308 |
Net income attributable to noncontrolling interests | 39 | 130 | 75 | 244 |
Net income (loss) attributable to parent | 954 | 1,075 | 1,607 | 2,064 |
EEGH | ||||
Operating revenue | 497 | 521 | 1,030 | 1,074 |
Operating expenses: | ||||
Cost of (excess) gas | 0 | 5 | (2) | 25 |
Operations and maintenance | 139 | 134 | 271 | 277 |
Depreciation and amortization | 83 | 80 | 165 | 160 |
Property and other taxes | 33 | 26 | 66 | 63 |
Total operating expenses | 255 | 245 | 500 | 525 |
Operating income | 242 | 276 | 530 | 549 |
Other income (expense): | ||||
Interest expense | (32) | (35) | (68) | (72) |
Allowance for equity funds | 1 | 2 | 3 | 4 |
Interest and dividend income | 2 | 11 | 4 | 20 |
Other, net | 0 | 1 | 1 | 1 |
Total other income (expense) | (29) | (21) | (60) | (47) |
Income before income tax expense (benefit) and equity income (loss) | 213 | 255 | 470 | 502 |
Income tax expense (benefit) | 40 | 31 | 106 | 70 |
Equity income (loss) | 4 | 6 | 49 | 38 |
Net income | 177 | 230 | 413 | 470 |
Net income attributable to noncontrolling interests | 38 | 131 | 74 | 249 |
Net income (loss) attributable to parent | $ 139 | $ 99 | $ 339 | $ 221 |
Consolidated Statements of Op_7
Consolidated Statements of Operations (Unaudited) - EGTS - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Operating expenses: | ||||
Total operating expenses | 5,549 | 5,183 | 10,765 | 10,862 |
Operating income | 855 | 1,046 | 1,750 | 1,713 |
Other income (expense): | ||||
Interest expense | (675) | (599) | (1,366) | (1,185) |
Allowance for equity funds | 92 | 61 | 175 | 110 |
Other, net | 25 | 78 | 56 | 118 |
Total other income (expense) | (45) | 3 | (583) | 315 |
Income tax expense (benefit) | (308) | (255) | (679) | (417) |
Net income (loss) attributable to parent | 954 | 1,075 | 1,607 | 2,064 |
EGTS | ||||
Operating revenue | 230 | 236 | 500 | 514 |
Operating expenses: | ||||
Cost of (excess) gas | 0 | 5 | (2) | 25 |
Operations and maintenance | 94 | 95 | 182 | 194 |
Depreciation and amortization | 39 | 37 | 77 | 74 |
Property and other taxes | 14 | 7 | 28 | 21 |
Total operating expenses | 147 | 144 | 285 | 314 |
Operating income | 83 | 92 | 215 | 200 |
Other income (expense): | ||||
Interest expense | (17) | (17) | (34) | (35) |
Allowance for equity funds | 2 | 2 | 3 | 3 |
Other, net | 0 | 2 | 2 | 2 |
Total other income (expense) | (15) | (13) | (29) | (30) |
Income before income tax expense (benefit) | 68 | 79 | 186 | 170 |
Income tax expense (benefit) | 17 | 20 | 48 | 43 |
Net income (loss) attributable to parent | $ 51 | $ 59 | $ 138 | $ 127 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 993 | $ 1,205 | $ 1,682 | $ 2,308 |
Other comprehensive (loss) income, net of tax: | ||||
Unrecognized amounts on retirement benefits, net of tax | 4 | (7) | 15 | (11) |
Foreign currency translation adjustment | (25) | 232 | (170) | 331 |
Unrealized gains (losses) on cash flow hedges, net of tax | 19 | 39 | 26 | (16) |
Total other comprehensive (loss) income, net of tax | (2) | 264 | (129) | 304 |
Comprehensive income | 991 | 1,469 | 1,553 | 2,612 |
Comprehensive income attributable to noncontrolling interests | 39 | 130 | 75 | 244 |
Comprehensive income attributable to BHE shareholders | $ 952 | $ 1,339 | $ 1,478 | $ 2,368 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrecognized amounts on retirement benefits, tax | $ 1 | $ (4) | $ 5 | $ (7) |
Unrealized gains (losses) on cash flow hedges, tax | $ 6 | $ 13 | $ 8 | $ (7) |
Consolidated Statements of Co_3
Consolidated Statements of Comprehensive Income (Unaudited) - EEGH - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net income | $ 993 | $ 1,205 | $ 1,682 | $ 2,308 |
Other comprehensive (loss) income, net of tax: | ||||
Unrecognized amounts on retirement benefits, net of tax | 4 | (7) | 15 | (11) |
Unrealized losses on cash flow hedges, net of tax | 19 | 39 | 26 | (16) |
Total other comprehensive (loss) income, net of tax | (2) | 264 | (129) | 304 |
Comprehensive income | 991 | 1,469 | 1,553 | 2,612 |
Comprehensive income attributable to noncontrolling interests | 39 | 130 | 75 | 244 |
Comprehensive income attributable to BHE shareholders | 952 | 1,339 | 1,478 | 2,368 |
EEGH | ||||
Net income | 177 | 230 | 413 | 470 |
Other comprehensive (loss) income, net of tax: | ||||
Unrecognized amounts on retirement benefits, net of tax | 0 | 0 | 1 | (1) |
Unrealized losses on cash flow hedges, net of tax | 3 | 7 | 3 | 5 |
Total other comprehensive (loss) income, net of tax | 3 | 7 | 4 | 4 |
Comprehensive income | 180 | 237 | 417 | 474 |
Comprehensive income attributable to noncontrolling interests | 38 | 131 | 74 | 249 |
Comprehensive income attributable to BHE shareholders | $ 142 | $ 106 | $ 343 | $ 225 |
Consolidated Statements of Co_4
Consolidated Statements of Comprehensive Income (Unaudited) - EEGH (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Unrecognized amounts on retirement benefits, tax | $ 1 | $ (4) | $ 5 | $ (7) |
Unrealized gains (losses) on cash flow hedges, tax | 6 | 13 | 8 | (7) |
EEGH | ||||
Unrecognized amounts on retirement benefits, tax | 0 | 0 | 0 | 0 |
Unrealized gains (losses) on cash flow hedges, tax | $ 1 | $ 4 | $ 1 | $ 3 |
Consolidated Statements of Co_5
Consolidated Statements of Comprehensive Income (Unaudited) - EGTS - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net income (loss) | $ 954 | $ 1,075 | $ 1,607 | $ 2,064 |
Other comprehensive (loss) income, net of tax: | ||||
Comprehensive income attributable to BHE shareholders | 952 | 1,339 | 1,478 | 2,368 |
EGTS | ||||
Net income (loss) | 51 | 59 | 138 | 127 |
Other comprehensive (loss) income, net of tax: | ||||
Unrealized gains (losses) on cash flow hedges, net of tax | 1 | 0 | 1 | 1 |
Total other comprehensive (loss) income, net of tax | 1 | 0 | 1 | 1 |
Comprehensive income attributable to BHE shareholders | $ 52 | $ 59 | $ 139 | $ 128 |
Consolidated Statements of Co_6
Consolidated Statements of Comprehensive Income (Unaudited) - EGTS (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Unrealized gains (losses) on cash flow hedges, tax | $ 6 | $ 13 | $ 8 | $ (7) |
EGTS | ||||
Unrealized gains (losses) on cash flow hedges, tax | $ 0 | $ 0 | $ 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 | Retained Earnings | Accumulated Other Comprehensive (Loss) Income, Net | Noncontrolling Interest |
Beginning balance at Dec. 31, 2022 | $ 50,639 | $ 850 | $ 0 | $ 6,298 | $ 41,833 | $ (2,149) | $ 3,807 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 2,308 | 2,064 | 244 | ||||
Other comprehensive income (loss) | 304 | 304 | |||||
Preferred stock dividend | (17) | (17) | |||||
Distributions | (269) | (269) | |||||
Contributions | 3 | 3 | |||||
Other equity transactions | (8) | (8) | |||||
Ending balance at Jun. 30, 2023 | 52,960 | 850 | 0 | 6,298 | 43,880 | (1,845) | 3,777 |
Beginning balance at Mar. 31, 2023 | 51,651 | 850 | 0 | 6,298 | 42,814 | (2,109) | 3,798 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 1,205 | 1,075 | 130 | ||||
Other comprehensive income (loss) | 264 | 264 | |||||
Preferred stock dividend | (9) | (9) | |||||
Distributions | (144) | (144) | |||||
Contributions | 1 | 1 | |||||
Other equity transactions | (8) | (8) | |||||
Ending balance at Jun. 30, 2023 | 52,960 | 850 | 0 | 6,298 | 43,880 | (1,845) | 3,777 |
Beginning balance at Dec. 31, 2023 | 49,740 | 0 | 0 | 5,573 | 44,765 | (1,904) | 1,306 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 1,682 | 1,607 | 75 | ||||
Other comprehensive income (loss) | (129) | (129) | |||||
Preferred stock dividend | 0 | ||||||
Distributions | (84) | (84) | |||||
Other equity transactions | (3) | (1) | (2) | ||||
Ending balance at Jun. 30, 2024 | 51,206 | 0 | 0 | 5,573 | 46,371 | (2,033) | 1,295 |
Beginning balance at Mar. 31, 2024 | 50,259 | 0 | 0 | 5,573 | 45,417 | (2,031) | 1,300 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 993 | 954 | 39 | ||||
Other comprehensive income (loss) | (2) | (2) | |||||
Preferred stock dividend | 0 | ||||||
Distributions | (44) | (44) | |||||
Ending balance at Jun. 30, 2024 | $ 51,206 | $ 0 | $ 0 | $ 5,573 | $ 46,371 | $ (2,033) | $ 1,295 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholder's Equity (Unaudited) - PAC - USD ($) $ in Millions | Total | 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, 2022 | $ 10,741 | $ 2 | $ 0 | $ 4,479 | $ 6,269 | $ (9) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | $ 2,064 | (14) | (14) | ||||
Common stock dividends declared | (300) | (300) | |||||
Balance at Jun. 30, 2023 | 10,427 | 2 | 0 | 4,479 | 5,955 | (9) | |
Balance at Mar. 31, 2023 | 10,321 | 2 | 0 | 4,479 | 5,849 | (9) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 1,075 | 106 | 106 | ||||
Balance at Jun. 30, 2023 | 10,427 | 2 | 0 | 4,479 | 5,955 | (9) | |
Balance at Dec. 31, 2023 | 48,434 | 9,972 | 2 | 0 | 4,479 | 5,501 | (10) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 1,607 | 52 | 52 | ||||
Balance at Jun. 30, 2024 | 49,911 | 10,024 | 2 | 0 | 4,479 | 5,553 | (10) |
Balance at Mar. 31, 2024 | 10,093 | 2 | 0 | 4,479 | 5,622 | (10) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 954 | (69) | (69) | ||||
Balance at Jun. 30, 2024 | $ 49,911 | $ 10,024 | $ 2 | $ 0 | $ 4,479 | $ 5,553 | $ (10) |
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, 2022 | $ 9,645 | $ 0 | $ 561 | $ 9,084 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 2,064 | 478 | 478 | |||
Common stock dividend | (100) | (100) | ||||
Other equity transactions | (8) | 1 | 1 | |||
Balance at Jun. 30, 2023 | 10,024 | 0 | 561 | 9,463 | ||
Balance at Mar. 31, 2023 | 9,788 | 0 | 561 | 9,227 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 1,075 | 236 | 236 | |||
Other equity transactions | (8) | |||||
Balance at Jun. 30, 2023 | 10,024 | 0 | 561 | 9,463 | ||
Balance at Dec. 31, 2023 | 48,434 | 9,603 | 0 | 561 | 9,042 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 1,607 | 475 | 475 | |||
Common stock dividend | (425) | (425) | ||||
Other equity transactions | (3) | $ (1) | ||||
Balance at Jun. 30, 2024 | 49,911 | 9,653 | 0 | 561 | 9,092 | |
Balance at Mar. 31, 2024 | 9,415 | 0 | 561 | 8,854 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 954 | 237 | 237 | |||
Other equity transactions | 1 | 1 | ||||
Balance at Jun. 30, 2024 | $ 49,911 | $ 9,653 | $ 0 | $ 561 | $ 9,092 |
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, 2022 | $ 10,679 | $ 1,679 | $ 9,000 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income (loss) | $ 2,064 | 482 | 482 | |
Distribution to member | (100) | (100) | ||
Balance at Jun. 30, 2023 | 11,061 | 1,679 | 9,382 | |
Balance at Mar. 31, 2023 | 10,828 | 1,679 | 9,149 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income (loss) | 1,075 | 233 | 233 | |
Balance at Jun. 30, 2023 | 11,061 | 1,679 | 9,382 | |
Balance at Dec. 31, 2023 | 48,434 | 10,633 | 1,679 | 8,954 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income (loss) | 1,607 | 469 | 469 | |
Distribution to member | (425) | (425) | ||
Balance at Jun. 30, 2024 | 49,911 | 10,677 | 1,679 | 8,998 |
Balance at Mar. 31, 2024 | 10,443 | 1,679 | 8,764 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income (loss) | 954 | 234 | 234 | |
Balance at Jun. 30, 2024 | $ 49,911 | $ 10,677 | $ 1,679 | $ 8,998 |
Consolidated Statements of Ch_4
Consolidated Statements of Changes in Shareholder's 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, 2022 | 1,000 | |||||
Balance at Dec. 31, 2022 | $ 3,354 | $ 0 | $ 2,333 | $ 1,022 | $ (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 2,064 | 70 | 70 | |||
Contributions | 400 | 400 | ||||
Balance (shares) at Jun. 30, 2023 | 1,000 | |||||
Balance at Jun. 30, 2023 | 3,824 | $ 0 | 2,733 | 1,092 | (1) | |
Balance (shares) at Mar. 31, 2023 | 1,000 | |||||
Balance at Mar. 31, 2023 | 3,758 | $ 0 | 2,733 | 1,026 | (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 1,075 | 66 | 66 | |||
Balance (shares) at Jun. 30, 2023 | 1,000 | |||||
Balance at Jun. 30, 2023 | $ 3,824 | $ 0 | 2,733 | 1,092 | (1) | |
Balance (shares) at Dec. 31, 2023 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Dec. 31, 2023 | $ 48,434 | $ 3,964 | $ 0 | 2,733 | 1,232 | (1) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 1,607 | 112 | 112 | |||
Contributions | $ 100 | 100 | ||||
Balance (shares) at Jun. 30, 2024 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Jun. 30, 2024 | $ 49,911 | $ 4,176 | $ 0 | 2,833 | 1,344 | (1) |
Balance (shares) at Mar. 31, 2024 | 1,000 | |||||
Balance at Mar. 31, 2024 | 4,079 | $ 0 | 2,833 | 1,247 | (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 954 | $ 97 | 97 | |||
Balance (shares) at Jun. 30, 2024 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Jun. 30, 2024 | $ 49,911 | $ 4,176 | $ 0 | $ 2,833 | $ 1,344 | $ (1) |
Consolidated Statements of Ch_5
Consolidated Statements of Changes in Shareholder's 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, 2022 | 1,000 | |||||
Balance at Dec. 31, 2022 | $ 2,048 | $ 0 | $ 1,576 | $ 473 | $ (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 2,064 | 47 | 47 | |||
Balance (shares) at Jun. 30, 2023 | 1,000 | |||||
Balance at Jun. 30, 2023 | 2,095 | $ 0 | 1,576 | 520 | (1) | |
Balance (shares) at Mar. 31, 2023 | 1,000 | |||||
Balance at Mar. 31, 2023 | 2,075 | $ 0 | 1,576 | 500 | (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 1,075 | 20 | 20 | |||
Balance (shares) at Jun. 30, 2023 | 1,000 | |||||
Balance at Jun. 30, 2023 | $ 2,095 | $ 0 | 1,576 | 520 | (1) | |
Balance (shares) at Dec. 31, 2023 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Dec. 31, 2023 | $ 48,434 | $ 2,065 | $ 0 | 1,576 | 490 | (1) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 1,607 | 22 | 22 | |||
Dividends declared | $ (200) | (200) | ||||
Balance (shares) at Jun. 30, 2024 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Jun. 30, 2024 | $ 49,911 | $ 1,887 | $ 0 | 1,576 | 312 | (1) |
Balance (shares) at Mar. 31, 2024 | 1,000 | |||||
Balance at Mar. 31, 2024 | 1,875 | $ 0 | 1,576 | 300 | (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 954 | $ 12 | 12 | |||
Balance (shares) at Jun. 30, 2024 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Jun. 30, 2024 | $ 49,911 | $ 1,887 | $ 0 | $ 1,576 | $ 312 | $ (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 EEGH |
Beginning balance at Dec. 31, 2022 | $ 7,888 | $ 3,983 | $ (42) | $ 3,947 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 2,308 | 470 | 221 | 249 | ||
Other comprehensive income (loss) | 304 | 4 | $ 304 | 4 | ||
Distributions | (351) | (85) | (266) | |||
Contributions | 33 | 33 | ||||
Ending balance at Jun. 30, 2023 | 8,044 | 4,152 | (38) | 3,930 | ||
Beginning balance at Mar. 31, 2023 | 8,005 | 4,109 | (45) | 3,941 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 1,205 | 230 | 99 | 131 | ||
Other comprehensive income (loss) | 264 | 7 | 264 | 7 | ||
Distributions | (221) | (79) | (142) | |||
Contributions | 23 | 23 | ||||
Ending balance at Jun. 30, 2023 | 8,044 | 4,152 | (38) | 3,930 | ||
Beginning balance at Dec. 31, 2023 | 7,528 | 6,273 | (40) | 1,295 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 1,682 | 413 | 339 | 74 | ||
Other comprehensive income (loss) | (129) | 4 | (129) | 4 | ||
Distributions | (259) | (178) | (81) | |||
Contributions | 102 | 102 | ||||
Ending balance at Jun. 30, 2024 | 7,788 | 6,536 | (36) | 1,288 | ||
Beginning balance at Mar. 31, 2024 | 7,550 | 6,297 | (39) | 1,292 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 993 | 177 | 139 | 38 | ||
Other comprehensive income (loss) | $ (2) | 3 | $ (2) | 3 | ||
Distributions | (42) | (42) | ||||
Contributions | 100 | 100 | ||||
Ending balance at Jun. 30, 2024 | $ 7,788 | $ 6,536 | $ (36) | $ 1,288 |
Consolidated Statements of Ch_7
Consolidated Statements of Changes in Shareholder's Equity (Unaudited) - EGTS - USD ($) $ in Millions | Total | EGTS | Common Stock EGTS | Additional Paid-in Capital EGTS | Retained Earnings EGTS | Accumulated Other Comprehensive Loss, Net EGTS |
Balance (shares) at Dec. 31, 2022 | 60,101,000,000 | |||||
Balance at Dec. 31, 2022 | $ 2,600 | $ 609 | $ 1,275 | $ 746 | $ (30) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 2,064 | 127 | 127 | |||
Other comprehensive income | 1 | 1 | ||||
Dividends declared | (130) | (130) | ||||
Contributions | 25 | 25 | ||||
Balance (shares) at Jun. 30, 2023 | 60,101,000,000 | |||||
Balance at Jun. 30, 2023 | 2,623 | $ 609 | 1,300 | 743 | (29) | |
Balance (shares) at Mar. 31, 2023 | 60,101,000,000 | |||||
Balance at Mar. 31, 2023 | 2,667 | $ 609 | 1,282 | 805 | (29) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 1,075 | 59 | 59 | |||
Other comprehensive income | 0 | |||||
Dividends declared | (121) | (121) | ||||
Contributions | 18 | 18 | ||||
Balance (shares) at Jun. 30, 2023 | 60,101,000,000 | |||||
Balance at Jun. 30, 2023 | $ 2,623 | $ 609 | 1,300 | 743 | (29) | |
Balance (shares) at Dec. 31, 2023 | 76,000,000 | 60,101 | 60,101,000,000 | |||
Balance at Dec. 31, 2023 | $ 48,434 | $ 2,688 | $ 609 | 1,304 | 803 | (28) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 1,607 | 138 | 138 | |||
Other comprehensive income | 1 | 1 | ||||
Dividends declared | (277) | (277) | ||||
Contributions | $ 35 | 35 | ||||
Balance (shares) at Jun. 30, 2024 | 76,000,000 | 60,101 | 60,101,000,000 | |||
Balance at Jun. 30, 2024 | $ 49,911 | $ 2,585 | $ 609 | 1,339 | 664 | (27) |
Balance (shares) at Mar. 31, 2024 | 60,101,000,000 | |||||
Balance at Mar. 31, 2024 | 2,609 | $ 609 | 1,305 | 723 | (28) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 954 | 51 | 51 | |||
Other comprehensive income | 1 | 1 | ||||
Dividends declared | (110) | (110) | ||||
Contributions | $ 34 | 34 | ||||
Balance (shares) at Jun. 30, 2024 | 76,000,000 | 60,101 | 60,101,000,000 | |||
Balance at Jun. 30, 2024 | $ 49,911 | $ 2,585 | $ 609 | $ 1,339 | $ 664 | $ (27) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net income | $ 1,682 | $ 2,308 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Gains on marketable securities, net | (206) | (1,002) |
Depreciation and amortization | 2,044 | 2,045 |
Allowance for equity funds | (175) | (110) |
Equity (income) loss, net of distributions | 233 | 188 |
Net power cost deferrals | 275 | (446) |
Amortization of net power cost deferrals | 174 | 279 |
Other changes in regulatory assets and liabilities | (90) | (66) |
Deferred income taxes and investment tax credits, net | (72) | (117) |
Other, net | (11) | (93) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (457) | (60) |
Derivative collateral, net | (38) | (224) |
Pension and other postretirement benefit plans | (5) | (10) |
Accrued property, income and other taxes, net | 201 | 530 |
Accounts payable and other liabilities | 505 | 52 |
Wildfires insurance receivable | 360 | (133) |
Wildfires liability | 160 | 524 |
Net cash flows from operating activities | 4,580 | 3,665 |
Cash flows from investing activities: | ||
Capital expenditures | (4,128) | (4,025) |
Purchases of marketable securities | (195) | (155) |
Proceeds from sales of marketable securities | 892 | 1,798 |
Purchases of U.S. Treasury Bills | (1,287) | (3,294) |
Proceeds from sales of U.S. Treasury Bills | 0 | 231 |
Proceeds from maturities of U.S. Treasury Bills | 723 | 1,775 |
Equity method investments | (13) | (20) |
Other, net | (8) | 16 |
Net cash flows from investing activities | (4,016) | (3,674) |
Cash flows from financing activities: | ||
Preferred dividends | 0 | (17) |
Repayments of BHE senior debt | 0 | (400) |
Proceeds from subsidiary debt | 5,317 | 1,188 |
Repayments of subsidiary debt | (866) | (959) |
Net (repayments of) proceeds from short-term debt | (3,162) | 1,118 |
Distributions to noncontrolling interests | (85) | (269) |
Other, net | (18) | (36) |
Net cash flows from financing activities | 1,186 | 625 |
Effect of exchange rate changes | (9) | 7 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,741 | 623 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,811 | 1,817 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 3,552 | $ 2,440 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Unaudited) - PAC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 1,607 | $ 2,064 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (175) | (110) |
Net power cost deferrals | 275 | (446) |
Amortization of net power cost deferrals | 174 | 279 |
Other changes in regulatory assets and liabilities | (90) | (66) |
Deferred income taxes and investment tax credits, net | (72) | (117) |
Other, net | (11) | (93) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (457) | (60) |
Derivative collateral, net | (38) | (224) |
Accrued property, income and other taxes, net | 201 | 530 |
Accounts payable and other liabilities | 505 | 52 |
Wildfires insurance receivable | 360 | (133) |
Wildfires liability | 160 | 524 |
Net cash flows from operating activities | 4,580 | 3,665 |
Cash flows from investing activities: | ||
Capital expenditures | (4,128) | (4,025) |
Other, net | (8) | 16 |
Net cash flows from investing activities | (4,016) | (3,674) |
Cash flows from financing activities: | ||
Net repayments of short-term debt | (3,162) | 1,118 |
Other, net | (18) | (36) |
Net cash flows from financing activities | 1,186 | 625 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,741 | 623 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,811 | 1,817 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 3,552 | 2,440 |
PAC | ||
Cash flows from operating activities: | ||
Net income (loss) | 52 | (14) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 579 | 558 |
Allowance for equity funds | (100) | (61) |
Net power cost deferrals | (269) | (255) |
Amortization of net power cost deferrals | 169 | 71 |
Other changes in regulatory assets and liabilities | (48) | (54) |
Deferred income taxes and investment tax credits, net | (66) | (68) |
Other, net | 1 | (2) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (29) | 80 |
Inventories | (158) | (59) |
Derivative collateral, net | (38) | (90) |
Prepaid expenses | 42 | 33 |
Accrued property, income and other taxes, net | 174 | 161 |
Accounts payable and other liabilities | 68 | 216 |
Wildfires insurance receivable | 360 | (133) |
Wildfires liability | 160 | 524 |
Net cash flows from operating activities | 897 | 907 |
Cash flows from investing activities: | ||
Capital expenditures | (1,478) | (1,529) |
Other, net | 7 | 0 |
Net cash flows from investing activities | (1,471) | (1,529) |
Cash flows from financing activities: | ||
Proceeds from long-term debt | 3,762 | 1,189 |
Repayments of long-term debt | (425) | (309) |
Net repayments of short-term debt | (1,604) | 0 |
Dividends paid | 0 | (300) |
Other, net | (2) | (3) |
Net cash flows from financing activities | 1,731 | 577 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,157 | (45) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 192 | 674 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 1,349 | $ 629 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - MEC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net income | $ 1,607 | $ 2,064 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (175) | (110) |
Deferred income taxes and investment tax credits, net | (72) | (117) |
Other, net | (11) | (93) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (457) | (60) |
Accrued property, income and other taxes, net | 201 | 530 |
Accounts payable and other liabilities | 505 | 52 |
Net cash flows from operating activities | 4,580 | 3,665 |
Cash flows from investing activities: | ||
Capital expenditures | (4,128) | (4,025) |
Purchases of marketable securities | (195) | (155) |
Proceeds from sales of marketable securities | 892 | 1,798 |
Other, net | (8) | 16 |
Net cash flows from investing activities | (4,016) | (3,674) |
Cash flows from financing activities: | ||
Other, net | (18) | (36) |
Net cash flows from financing activities | 1,186 | 625 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,741 | 623 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,811 | 1,817 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 3,552 | 2,440 |
MEC | ||
Cash flows from operating activities: | ||
Net income | 475 | 478 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 455 | 460 |
Amortization of utility plant to other operating expenses | 17 | 16 |
Allowance for equity funds | (34) | (24) |
Deferred income taxes and investment tax credits, net | 160 | 46 |
Settlements of asset retirement obligations | 0 | (15) |
Other, net | (23) | 3 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (24) | 203 |
Inventories | (22) | (43) |
Accrued property, income and other taxes, net | (107) | 107 |
Accounts payable and other liabilities | (11) | (106) |
Net cash flows from operating activities | 886 | 1,125 |
Cash flows from investing activities: | ||
Capital expenditures | (738) | (763) |
Purchases of marketable securities | (174) | (95) |
Proceeds from sales of marketable securities | 172 | 81 |
Other, net | (12) | 10 |
Net cash flows from investing activities | (752) | (767) |
Cash flows from financing activities: | ||
Common stock dividends | (425) | (100) |
Proceeds from long-term debt | 591 | 0 |
Repayments of long-term debt | (2) | (65) |
Other, net | 0 | (1) |
Net cash flows from financing activities | 164 | (166) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 298 | 192 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 642 | 268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 940 | $ 460 |
Consolidated Statements of Ca_3
Consolidated Statements of Cash Flows (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 1,607 | $ 2,064 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (175) | (110) |
Deferred income taxes and investment tax credits, net | (72) | (117) |
Other, net | (11) | (93) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (457) | (60) |
Accrued property, income and other taxes, net | 201 | 530 |
Accounts payable and other liabilities | 505 | 52 |
Net cash flows from operating activities | 4,580 | 3,665 |
Cash flows from investing activities: | ||
Capital expenditures | (4,128) | (4,025) |
Purchases of marketable securities | (195) | (155) |
Proceeds from sales of marketable securities | 892 | 1,798 |
Other, net | (8) | 16 |
Net cash flows from investing activities | (4,016) | (3,674) |
Cash flows from financing activities: | ||
Proceeds from long-term debt | 5,317 | 1,188 |
Repayments of long-term debt | (866) | (959) |
Other, net | (18) | (36) |
Net cash flows from financing activities | 1,186 | 625 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,741 | 623 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,811 | 1,817 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 3,552 | 2,440 |
MidAmerican Funding, LLC | ||
Cash flows from operating activities: | ||
Net income (loss) | 469 | 482 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 455 | 460 |
Amortization of utility plant to other operating expenses | 17 | 16 |
Allowance for equity funds | (34) | (24) |
Deferred income taxes and investment tax credits, net | 160 | 46 |
Settlements of asset retirement obligations | 0 | (15) |
Other, net | (22) | (10) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (24) | 194 |
Inventories | (22) | (43) |
Accrued property, income and other taxes, net | (107) | 110 |
Accounts payable and other liabilities | (12) | (106) |
Net cash flows from operating activities | 880 | 1,110 |
Cash flows from investing activities: | ||
Capital expenditures | (738) | (763) |
Purchases of marketable securities | (174) | (95) |
Proceeds from sales of marketable securities | 172 | 81 |
Proceeds from sale of investment | 0 | 12 |
Other, net | (12) | 10 |
Net cash flows from investing activities | (752) | (755) |
Cash flows from financing activities: | ||
Distributions to member | (425) | (100) |
Proceeds from long-term debt | 591 | 0 |
Repayments of long-term debt | (2) | (65) |
Net change in note payable to affiliate | 8 | 0 |
Other, net | 0 | (1) |
Net cash flows from financing activities | 172 | (166) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 300 | 189 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 643 | 271 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 943 | $ 460 |
Consolidated Statements of Ca_4
Consolidated Statements of Cash Flows (Unaudited) - NPC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 1,607 | $ 2,064 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (175) | (110) |
Deferred energy | 275 | (446) |
Amortization of deferred energy | 174 | 279 |
Deferred income taxes and investment tax credits, net | (72) | (117) |
Other, net | (11) | (93) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (457) | (60) |
Accrued property, income and other taxes, net | 201 | 530 |
Accounts payable and other liabilities | 505 | 52 |
Net cash flows from operating activities | 4,580 | 3,665 |
Cash flows from investing activities: | ||
Capital expenditures | (4,128) | (4,025) |
Proceeds from sales of marketable securities | 892 | 1,798 |
Net cash flows from investing activities | (4,016) | (3,674) |
Cash flows from financing activities: | ||
Other, net | (18) | (36) |
Net cash flows from financing activities | 1,186 | 625 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,741 | 623 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,811 | 1,817 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 3,552 | 2,440 |
NPC | ||
Cash flows from operating activities: | ||
Net income (loss) | 112 | 70 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 184 | 214 |
Allowance for equity funds | (17) | (8) |
Deferred energy | 434 | (252) |
Amortization of deferred energy | (27) | 131 |
Other changes in regulatory assets and liabilities | (18) | (19) |
Deferred income taxes and investment tax credits, net | (15) | 9 |
Other, net | 0 | (1) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (83) | (83) |
Inventories | (26) | (27) |
Accrued property, income and other taxes, net | (68) | (4) |
Accounts payable and other liabilities | 121 | 202 |
Net cash flows from operating activities | 597 | 232 |
Cash flows from investing activities: | ||
Capital expenditures | (602) | (719) |
Proceeds from repayment of affiliate note receivable | 0 | 100 |
Proceeds from sales of marketable securities | 4 | 0 |
Net cash flows from investing activities | (598) | (619) |
Cash flows from financing activities: | ||
Repayments of long-term debt | 0 | (1) |
Contributions from parent | 100 | 400 |
Other, net | (10) | (10) |
Net cash flows from financing activities | 90 | 389 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 89 | 2 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 37 | 60 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 126 | $ 62 |
Consolidated Statements of Ca_5
Consolidated Statements of Cash Flows (Unaudited) - SPPC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 1,607 | $ 2,064 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Allowance for equity funds | (175) | (110) |
Deferred energy | 275 | (446) |
Amortization of deferred energy | 174 | 279 |
Deferred income taxes and investment tax credits, net | (72) | (117) |
Other, net | (11) | (93) |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | (457) | (60) |
Accrued property, income and other taxes, net | 201 | 530 |
Accounts payable and other liabilities | 505 | 52 |
Net cash flows from operating activities | 4,580 | 3,665 |
Cash flows from investing activities: | ||
Capital expenditures | (4,128) | (4,025) |
Proceeds from sales of marketable securities | 892 | 1,798 |
Net cash flows from investing activities | (4,016) | (3,674) |
Cash flows from financing activities: | ||
Other, net | (18) | (36) |
Net cash flows from financing activities | 1,186 | 625 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,741 | 623 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,811 | 1,817 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 3,552 | 2,440 |
SPPC | ||
Cash flows from operating activities: | ||
Net income (loss) | 22 | 47 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 94 | 92 |
Allowance for equity funds | (10) | (5) |
Deferred energy | 111 | 61 |
Amortization of deferred energy | 30 | 77 |
Other changes in regulatory assets and liabilities | 4 | 8 |
Deferred income taxes and investment tax credits, net | (39) | (38) |
Other, net | (2) | (1) |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 32 | 9 |
Inventories | (22) | (34) |
Accrued property, income and other taxes, net | (15) | 49 |
Accounts payable and other liabilities | 86 | (33) |
Net cash flows from operating activities | 291 | 232 |
Cash flows from investing activities: | ||
Capital expenditures | (297) | (170) |
Proceeds from sales of marketable securities | 1 | 0 |
Net cash flows from investing activities | (296) | (170) |
Cash flows from financing activities: | ||
Proceeds from long-term debt | 234 | 0 |
Dividends paid | (200) | 0 |
Repayment of affiliate note payable | 0 | (70) |
Other, net | (4) | (4) |
Net cash flows from financing activities | 30 | (74) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 25 | (12) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 52 | 56 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 77 | $ 44 |
Consolidated Statements of Ca_6
Consolidated Statements of Cash Flows (Unaudited) - EEGH - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net income | $ 1,682 | $ 2,308 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 2,044 | 2,045 |
Allowance for equity funds | (175) | (110) |
Equity (income) loss, net of distributions | 233 | 188 |
Deferred income taxes | (72) | (117) |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | (457) | (60) |
Derivative collateral, net | (38) | (224) |
Accrued property, income and other taxes | 201 | 530 |
Accounts payable and other liabilities | 505 | 52 |
Net cash flows from operating activities | 4,580 | 3,665 |
Cash flows from investing activities: | ||
Capital expenditures | (4,128) | (4,025) |
Other, net | (8) | 16 |
Net cash flows from investing activities | (4,016) | (3,674) |
Cash flows from financing activities: | ||
Distributions to noncontrolling interests | (85) | (269) |
Net cash flows from financing activities | 1,186 | 625 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,741 | 623 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,811 | 1,817 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 3,552 | 2,440 |
EEGH | ||
Cash flows from operating activities: | ||
Net income | 413 | 470 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Losses (gains) on other items, net | 1 | (7) |
Depreciation and amortization | 165 | 160 |
Allowance for equity funds | (3) | (4) |
Equity (income) loss, net of distributions | 8 | 2 |
Other changes in regulatory assets and liabilities | (4) | (92) |
Deferred income taxes | 69 | 47 |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 79 | 89 |
Receivables from affiliates | (3) | 8 |
Gas balancing activities | (5) | 17 |
Derivative collateral, net | 0 | 2 |
Accrued property, income and other taxes | 8 | 6 |
Accounts payable to affiliates | (17) | (9) |
Accounts payable and other liabilities | (17) | (45) |
Net cash flows from operating activities | 694 | 644 |
Cash flows from investing activities: | ||
Capital expenditures | (147) | (124) |
Proceeds from assignment of shale development rights | 0 | 8 |
Notes to affiliates | 0 | (166) |
Repayment of notes by affiliates | 0 | 252 |
Other, net | 4 | (3) |
Net cash flows from investing activities | (143) | (33) |
Cash flows from financing activities: | ||
Repayments of long-term debt | 0 | (250) |
Repayment of notes payable to affiliates, net | (379) | 0 |
Distributions to noncontrolling interests | (81) | (266) |
Distributions | (52) | (78) |
Net cash flows from financing activities | (512) | (594) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 39 | 17 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 93 | 95 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 132 | $ 112 |
Consolidated Statements of Ca_7
Consolidated Statements of Cash Flows (Unaudited) - EGTS - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 1,607 | $ 2,064 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Depreciation and amortization | 2,044 | 2,045 |
Allowance for equity funds | (175) | (110) |
Deferred income taxes | (72) | (117) |
Other, net | (11) | (93) |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | (457) | (60) |
Accrued property, income and other taxes | 201 | 530 |
Accounts payable and other liabilities | 505 | 52 |
Net cash flows from operating activities | 4,580 | 3,665 |
Cash flows from investing activities: | ||
Capital expenditures | (4,128) | (4,025) |
Proceeds from sales of marketable securities | 892 | 1,798 |
Other, net | (8) | 16 |
Net cash flows from investing activities | (4,016) | (3,674) |
Cash flows from financing activities: | ||
Net cash flows from financing activities | 1,186 | 625 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,741 | 623 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,811 | 1,817 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 3,552 | 2,440 |
EGTS | ||
Cash flows from operating activities: | ||
Net income (loss) | 138 | 127 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Gains on other items, net | (1) | (8) |
Depreciation and amortization | 77 | 74 |
Allowance for equity funds | (3) | (3) |
Other changes in regulatory assets and liabilities | (9) | (80) |
Deferred income taxes | 37 | 30 |
Other, net | (1) | (1) |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 46 | 53 |
Receivables from affiliates | (3) | 1 |
Gas balancing activities | 4 | 21 |
Accrued property, income and other taxes | 1 | (15) |
Accounts payable and other liabilities | (2) | 8 |
Accounts payable to affiliates | (8) | (3) |
Net cash flows from operating activities | 276 | 204 |
Cash flows from investing activities: | ||
Capital expenditures | (92) | (86) |
Proceeds from assignment of shale development rights | 0 | 8 |
Proceeds from sales of marketable securities | 3 | 0 |
Other, net | 2 | (3) |
Net cash flows from investing activities | (87) | (81) |
Cash flows from financing activities: | ||
Issuance of notes payable to affiliates, net | 39 | 4 |
Dividends paid | (206) | (122) |
Net cash flows from financing activities | (167) | (118) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 22 | 5 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 34 | 45 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 56 | $ 50 |
General
General | 6 Months Ended |
Jun. 30, 2024 | |
Segment Reporting Information [Line Items] | |
General | General Berkshire Hathaway Energy Company ("BHE") is a holding company that owns a highly diversified portfolio of locally managed and operated businesses principally engaged in the energy industry (collectively with its subsidiaries, the "Company") and is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). The Company's operations are organized as eight business segments: PacifiCorp and its subsidiaries ("PacifiCorp"), MidAmerican Funding, LLC and its subsidiaries ("MidAmerican Funding") (which primarily consists of MidAmerican Energy Company ("MidAmerican Energy")), NV Energy, Inc. and its subsidiaries ("NV Energy") (which primarily consists of Nevada Power Company and its subsidiaries ("Nevada Power") and Sierra Pacific Power Company and its subsidiaries ("Sierra Pacific")), Northern Powergrid Holdings Company and its subsidiaries ("Northern Powergrid") (which primarily consists of Northern Powergrid (Northeast) plc and Northern Powergrid (Yorkshire) plc), BHE Pipeline Group, LLC and its subsidiaries (which primarily consists of BHE GT&S, LLC and its subsidiaries ("BHE GT&S"), Northern Natural Gas Company ("Northern Natural Gas") and Kern River Gas Transmission Company ("Kern River")), BHE Transmission (which consists of BHE Canada Holdings Corporation and its subsidiaries ("BHE Canada") (which primarily consists of AltaLink, L.P. ("AltaLink")) and BHE U.S. Transmission, LLC and its subsidiaries), BHE Renewables, LLC and its subsidiaries ("BHE Renewables") and HomeServices of America, Inc. and its subsidiaries ("HomeServices"). The Company, through these locally managed and operated businesses, owns four utility companies in the U.S. serving customers in 11 states, two electricity distribution companies in Great Britain, five interstate natural gas pipeline companies in the U.S., one of which owns a liquefied natural gas ("LNG") export, import and storage facility, 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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024, 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, 2023, 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 six-month period ended June 30, 2024, 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"). Refer to Note 10 for further discussion of the 2020 Wildfires and the wildfire that began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California in July 2022 (the "2022 McKinney Fire"), collectively referred to as the "Wildfires". |
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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The Consolidated Statements of Comprehensive Income (Loss) have been omitted as net income (loss) materially equals comprehensive income (loss) for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024, 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, 2023, 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 six-month period ended June 30, 2024, other than the updates associated with PacifiCorp's estimates of loss contingencies related to the Oregon and Northern California 2020 wildfires (the "2020 Wildfires"). Refer to Note 11 for further discussion of the 2020 Wildfires and the wildfire that began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California in July 2022 (the "2022 McKinney Fire"), collectively referred to as the "Wildfires". |
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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the six-month period ended June 30, 2024, 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, 2023, 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 six-month period ended June 30, 2024. |
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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the six-month period ended June 30, 2024, 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, 2023, 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 six-month period ended June 30, 2024. |
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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024, 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, 2023, 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 six-month period ended June 30, 2024. |
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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024, 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, 2023, 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 six-month period ended June 30, 2024. |
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 75% of the limited partner interests of Cove Point. In addition, Eastern Energy Gas owns a 50% noncontrolling interest in Iroquois Gas Transmission System, L.P. ("Iroquois"), a 416-mile FERC-regulated interstate natural gas transmission system. Eastern Energy Gas is an indirect wholly owned subsidiary of Berkshire Hathaway Energy Company ("BHE"). BHE is a holding company based in Des Moines, Iowa that owns subsidiaries principally engaged in the energy industry. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024 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, 2023 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 six-month period ended June 30, 2024. |
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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024 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, 2023 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 six-month period ended June 30, 2024. |
New Accounting Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2024 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. The Company is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
PAC | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. PacifiCorp is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. PacifiCorp is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. PacifiCorp is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
MEC | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. MidAmerican Energy is currently evaluating the impact of adopting this guidance on its Financial Statements and disclosures included within Notes to Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. MidAmerican Energy is currently evaluating the impact of adopting this guidance on its Financial Statements and disclosures included within Notes to Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. MidAmerican Energy is currently evaluating the impact of adopting the final rules on its Financial Statements and disclosures included within Notes to Financial Statements. |
MidAmerican Funding, LLC | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncements | New Accounting Pronouncements Refer to Note 2 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. Nevada Power is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. Nevada Power is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. Nevada Power is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
SPPC | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. Sierra Pacific is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. Sierra Pacific is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. Sierra Pacific is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
EEGH | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. Eastern Energy Gas is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. Eastern Energy Gas is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. Eastern Energy Gas is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
EGTS | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. EGTS is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. EGTS is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. EGTS is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
Cash and Cash Equivalents and R
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 1,289 $ 138 Restricted cash and cash equivalents included in other current assets 57 51 Restricted cash included in other assets 3 3 Total cash and cash equivalents and restricted cash and cash equivalents $ 1,349 $ 192 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 930 $ 636 Restricted cash and cash equivalents in other current assets 10 6 Total cash and cash equivalents and restricted cash and cash equivalents $ 940 $ 642 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 933 $ 637 Restricted cash and cash equivalents in other current assets 10 6 Total cash and cash equivalents and restricted cash and cash equivalents $ 943 $ 643 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 111 $ 20 Restricted cash and cash equivalents included in other current assets 15 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 126 $ 37 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 70 $ 44 Restricted cash and cash equivalents included in other current assets 7 8 Total cash and cash equivalents and restricted cash and cash equivalents $ 77 $ 52 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, December 31, Life 2024 2023 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 97,682 $ 96,195 Interstate natural gas pipeline assets 3-80 years 19,603 19,226 117,285 115,421 Accumulated depreciation and amortization (37,673) (36,365) Regulated assets, net 79,612 79,056 Nonregulated assets: Independent power plants 2-50 years 8,557 8,484 Cove Point LNG facility 40 years 3,436 3,423 Other assets 2-30 years 2,898 2,874 14,891 14,781 Accumulated depreciation and amortization (4,019) (3,856) Nonregulated assets, net 10,872 10,925 90,484 89,981 Construction work-in-progress 10,528 9,267 Property, plant and equipment, net $ 101,012 $ 99,248 Construction work-in-progress includes $9.9 billion as of June 30, 2024 and $8.6 billion as of December 31, 2023, 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 June 30, December 31, Depreciable Life 2024 2023 Utility plant: Generation 15 - 59 years $ 14,011 $ 13,904 Transmission 60 - 90 years 8,321 8,216 Distribution 20 - 75 years 9,361 9,060 Intangible plant and other 5 - 75 years 2,873 2,833 Utility plant in-service 34,566 34,013 Accumulated depreciation and amortization (12,136) (11,725) Utility plant in-service, net 22,430 22,288 Nonregulated, net of accumulated depreciation and amortization 14 - 95 years 19 18 22,449 22,306 Construction work-in-progress 5,492 4,745 Property, plant and equipment, net $ 27,941 $ 27,051 |
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 June 30, December 31, Depreciable Life 2024 2023 Utility plant: Generation 20-62 years $ 18,104 $ 18,129 Transmission 55-80 years 2,856 2,834 Electric distribution 15-80 years 5,543 5,288 Natural gas distribution 30-75 years 2,327 2,294 Utility plant in-service 28,830 28,545 Accumulated depreciation and amortization (8,208) (7,841) Utility plant in-service, net 20,622 20,704 Nonregulated, net of accumulated depreciation and amortization 20-50 years 6 6 20,628 20,710 Construction work-in-progress 1,584 1,260 Property, plant and equipment, net $ 22,212 $ 21,970 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 six-month periods ended June 30, 2024 and 2023, $— million and $20 million, respectively, is reflected in depreciation and amortization expense on the Statements of Operations. |
MidAmerican Funding, LLC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Refer to Note 4 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 June 30, December 31, 2024 2023 Utility plant: Generation 30 - 65 years $ 4,855 $ 4,476 Transmission 55 - 76 years 1,650 1,590 Distribution 24 - 70 years 4,595 4,451 Intangible plant and other 5 - 65 years 898 906 Utility plant 11,998 11,423 Accumulated depreciation and amortization (3,983) (3,856) Utility plant, net 8,015 7,567 Nonregulated, net of accumulated depreciation and amortization 40 years 1 1 8,016 7,568 Construction work-in-progress 1,003 1,090 Property, plant and equipment, net $ 9,019 $ 8,658 During 2023, Nevada Power revised its electric and gas depreciation rates effective January 2024 based on the results of a new depreciation study, the most significant impact of which was longer lives for many production plants and other utility plant groups and shorter average service lives for intangible software. The net effect of these changes will decrease depreciation and amortization expense by $31 million annually based on depreciable plant balances at the time of the change. |
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 June 30, December 31, 2024 2023 Utility plant: Generation 25 - 70 years $ 1,334 $ 1,313 Transmission 50 - 76 years 1,051 1,023 Electric distribution 20 - 76 years 2,133 2,074 Electric intangible plant and other 5 - 65 years 252 247 Natural gas distribution 35 - 70 years 545 537 Natural gas intangible plant and other 5 - 65 years 18 17 Common other 5 - 65 years 374 376 Utility plant 5,707 5,587 Accumulated depreciation and amortization (2,156) (2,091) 3,551 3,496 Construction work-in-progress 489 326 Property, plant and equipment, net $ 4,040 $ 3,822 |
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 June 30, December 31, Depreciable Life 2024 2023 Utility plant: Interstate natural gas transmission and storage assets 23 - 49 years $ 9,438 $ 9,318 Intangible plant 5 - 18 years 126 117 Utility plant in-service 9,564 9,435 Accumulated depreciation and amortization (3,290) (3,201) Utility plant in-service, net 6,274 6,234 Nonutility plant: LNG facility 40 years 4,546 4,533 Accumulated depreciation and amortization (717) (655) Nonutility plant, net 3,829 3,878 10,103 10,112 Construction work-in-progress 240 231 Property, plant and equipment, net $ 10,343 $ 10,343 Construction work-in-progress includes $233 million and $223 million as of June 30, 2024 and December 31, 2023, respectively, related to the construction of utility plant. Assignment of Shale Development Rights In June 2023, Eastern Gas Transmission and Storage, Inc. ("EGTS") conveyed development rights to a natural gas producer for approximately 6,500 acres of Utica Shale and Point Pleasant Formation underneath one of its natural gas storage fields and received proceeds of $8 million and an overriding royalty interest in gas produced from the acreage. This transaction resulted in an $8 million ($6 million after-tax) gain, included in operations and maintenance expense in its Consolidated Statements of Operations. |
EGTS | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of June 30, December 31, Depreciable Life 2024 2023 Interstate natural gas transmission and storage assets 28 - 50 years $ 7,095 $ 7,046 Intangible plant 12 - 20 years 90 80 Plant in-service 7,185 7,126 Accumulated depreciation and amortization (2,631) (2,563) 4,554 4,563 Construction work-in-progress 188 152 Property, plant and equipment, net $ 4,742 $ 4,715 Assignment of Shale Development Rights In June 2023, EGTS conveyed development rights to a natural gas producer for approximately 6,500 acres of Utica Shale and Point Pleasant Formation underneath one of its natural gas storage fields and received proceeds of $8 million and an overriding royalty interest in gas produced from the acreage. This transaction resulted in an $8 million ($6 million after-tax) gain, included in operations and maintenance expense in its Consolidated Statements of Operations. |
Investments and Restricted Cash
Investments and Restricted Cash and Cash Equivalents and Investments | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, December 31, 2024 2023 Investments: BYD Company Limited common stock $ 1,739 $ 2,218 U.S. Treasury Bills 1,588 996 Rabbi trusts 521 487 Other 332 338 Total investments 4,180 4,039 Equity method investments: BHE Renewables tax equity investments 3,761 4,058 Electric Transmission Texas, LLC 718 673 Iroquois Gas Transmission System, L.P. 592 599 Other 391 381 Total equity method investments 5,462 5,711 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 829 767 Other restricted cash and cash equivalents 287 246 Total restricted cash and cash equivalents and investments 1,116 1,013 Total investments and restricted cash and cash equivalents and investments $ 10,758 $ 10,763 Reflected as: Other current assets $ 1,911 $ 1,253 Noncurrent assets 8,847 9,510 Total investments and restricted cash and cash equivalents and investments $ 10,758 $ 10,763 Investments Gains on marketable securities, net recognized during the period consists of the following (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Unrealized gains recognized on marketable securities held at the reporting date $ 236 $ 268 $ 150 $ 725 Net gains recognized on marketable securities sold during the period 93 35 56 277 Gains on marketable securities, net $ 329 $ 303 $ 206 $ 1,002 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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 3,265 $ 1,565 Investments and restricted cash and cash equivalents 270 224 Investments and restricted cash and cash equivalents and investments 17 22 Total cash and cash equivalents and restricted cash and cash equivalents $ 3,552 $ 1,811 |
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 June 30, December 31, 2024 2023 Investments: Investment funds $ 17 $ 19 Equity method investments: Iroquois 255 262 Total investments 272 281 Restricted cash and cash equivalents: Customer deposits 25 31 Total restricted cash and cash equivalents 25 31 Total investments and restricted cash and cash equivalents $ 297 $ 312 Reflected as: Other current assets $ 25 $ 31 Noncurrent assets 272 281 Total investments and restricted cash and cash equivalents $ 297 $ 312 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 June 30, 2024 and December 31, 2023, 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 $57 million and $40 million for the six-month periods ended June 30, 2024 and 2023, 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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 107 $ 62 Restricted cash and cash equivalents included in other current assets 25 31 Total cash and cash equivalents and restricted cash and cash equivalents $ 132 $ 93 |
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 June 30, December 31, 2024 2023 Investments: Investment funds $ 17 $ 19 Restricted cash and cash equivalents: Customer deposits 22 29 Total restricted cash and cash equivalents 22 29 Total investments and restricted cash and cash equivalents $ 39 $ 48 Reflected as: Current assets $ 22 $ 29 Other assets 17 19 Total investments and restricted cash and cash equivalents $ 39 $ 48 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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 34 $ 5 Restricted cash and cash equivalents 22 29 Total cash and cash equivalents and restricted cash and cash equivalents $ 56 $ 34 |
Recent Financing Transactions
Recent Financing Transactions | 6 Months Ended |
Jun. 30, 2024 | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In May 2024, AltaLink, L.P. issued C$325 million of its 4.742% Senior Secured Notes, Series 2024-1 due May 2054. AltaLink, L.P. used the net proceeds from the sale of the notes to repay its C$350 million term note due June 6, 2024. In February 2024, Sierra Pacific entered into a re-offering of the following series of fixed-rate tax exempt bonds: $75 million of Washoe County, Nevada Water Facilities Refunding Revenue Bonds, Series 2016F, due 2036; $60 million of Washoe County, Nevada Gas and Water Facilities Refunding Revenue Bonds, Series 2016B, due 2036; $30 million of Humboldt County, Nevada Pollution Control Refunding Revenue Bonds, Series 2016B, due 2029; $30 million of Washoe County, Nevada Water Facilities Refunding Revenue Bonds, Series 2016C, due 2036; $20 million of Humboldt County, Nevada Pollution Control Refunding Revenue Bonds, Series 2016A due 2029; and $20 million of Washoe County, Nevada Water Facilities Refunding Revenue Bonds, Series 2016G, due 2036. The Humboldt County Series 2016A and Series 2016B bonds were offered at a term rate of 3.550%. The Washoe County Series 2016B and Series 2016G bonds were offered at a fixed rate of 3.625% and the Washoe County Series 2016C and Series 2016F bonds were offered at a fixed rate of 4.125%. Sierra Pacific previously purchased the bonds as required by the bond indentures. Sierra Pacific used the net proceeds of the re-offering for general corporate purposes. In January 2024, PacifiCorp issued $500 million of its 5.10% First Mortgage Bonds due February 2029, $700 million of its 5.30% First Mortgage Bonds due February 2031, $1.1 billion of its 5.45% First Mortgage Bonds due February 2034 and $1.5 billion of its 5.80% First Mortgage Bonds due January 2055, for a total of $3.8 billion. PacifiCorp initially used a portion of the net proceeds to repay outstanding short-term debt and intends to use the remaining net proceeds to fund capital expenditures and for general corporate purposes. In January 2024, MidAmerican Energy issued $600 million of its 5.30% First Mortgage Bonds due February 2055. MidAmerican Energy intends, within 24 months of the issuance date, to allocate an amount equal to the net proceeds to finance, in whole or in part, new or existing investments or expenditures made in one or more eligible projects in alignment with BHE's Green Financing Framework. In January 2024, Northern Natural Gas issued $500 million of its 5.625% Senior Bonds due February 2054. Northern Natural Gas intends to use the net proceeds from the sale of the bonds for general corporate purposes, including to fund capital expenditures. Credit Facilities In June 2024, BHE amended its existing $3.5 billion unsecured credit facility expiring in June 2026. The amendment extended the expiration date to June 2027, updated lenders and amended certain provisions of the existing credit agreement. In June 2024, PacifiCorp amended its existing $2.0 billion unsecured credit facility expiring in June 2026. The amendment extended the expiration date to June 2027, updated lenders and amended certain provisions of the existing credit agreement. In June 2024, PacifiCorp terminated its existing $900 million unsecured delayed draw term loan facility expiring in June 2025 and entered into a new $900 million 364-day unsecured credit facility expiring in June 2025. This new credit facility, similar to its existing $2.0 billion unsecured credit facility, provides for loans at a variable interest rate based on the Secured Overnight Financing Rate or a base rate, at PacifiCorp's option, plus a spread that varies based on PacifiCorp's credit ratings for its senior unsecured long-term debt securities. In June 2024, MidAmerican Energy amended its existing $1.5 billion unsecured credit facility expiring in June 2026. The amendment extended the expiration date to June 2027, updated lenders and amended certain provisions of the existing credit agreement. In June 2024, Nevada Power and Sierra Pacific each amended its existing $600 million and $400 million secured credit facilities expiring in June 2026. The amendments extended the expiration date to June 2027, updated lenders and amended certain provisions of the existing credit agreements. In March 2024, AltaLink Investments, L.P. amended and restated its existing C$300 million unsecured revolving credit facility expiring December 2026. The restatement incorporated prior amendments as well as updated terms and definitions. In March 2024, HomeServices amended its existing $700 million unsecured credit facility expiring September 2026. The amendment reduced the commitment of the lenders to $200 million and changed the credit facility from unsecured to secured. |
PAC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In January 2024, PacifiCorp issued $500 million of its 5.100% First Mortgage Bonds due February 2029, $700 million of its 5.300% First Mortgage Bonds due February 2031, $1.1 billion of its 5.450% First Mortgage Bonds due February 2034 and $1.5 billion of its 5.800% First Mortgage Bonds due January 2055, for a total of $3.8 billion. PacifiCorp initially used a portion of the net proceeds to repay outstanding short-term debt and intends to use the remaining net proceeds to fund capital expenditures and for general corporate purposes. Credit Facilities In June 2024, PacifiCorp amended its existing $2.0 billion unsecured credit facility expiring in June 2026. The amendment extended the expiration date to June 2027, updated lenders and amended certain provisions of the existing credit agreement. In June 2024, PacifiCorp terminated its existing $900 million unsecured delayed draw term loan facility expiring in June 2025 and entered into a new $900 million 364-day unsecured credit facility expiring in June 2025. This new credit facility, similar to its existing $2.0 billion unsecured credit facility, provides for loans at a variable interest rate based on the Secured Overnight Financing Rate or a base rate, at PacifiCorp's option, plus a spread that varies based on PacifiCorp's credit ratings for its senior unsecured long-term debt securities. |
MEC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In January 2024, MidAmerican Energy issued $600 million of its 5.30% First Mortgage Bonds due February 2055. MidAmerican Energy intends, within 24 months of the issuance date, to allocate an amount equal to the net proceeds to finance, in whole or in part, new or existing investments or expenditures made in one or more eligible projects in alignment with BHE's Green Financing Framework. Credit Facilities In June 2024, MidAmerican Energy amended its existing $1.5 billion unsecured credit facility expiring in June 2026. The amendment extended the expiration date to June 2027, updated lenders and amended certain provisions of the existing credit agreement. |
MidAmerican Funding, LLC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Refer to Note 5 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Credit Facilities In June 2024, Nevada Power amended its existing $600 million secured credit facility expiring in June 2026. The amendment extended the expiration date to June 2027, updated lenders and amended certain provisions of the existing credit agreement. |
SPPC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In February 2024, Sierra Pacific entered into a re-offering of the following series of fixed-rate tax exempt bonds: $75 million of Washoe County, Nevada Water Facilities Refunding Revenue Bonds, Series 2016F, due 2036; $60 million of Washoe County, Nevada Gas and Water Facilities Refunding Revenue Bonds, Series 2016B, due 2036; $30 million of Humboldt County, Nevada Pollution Control Refunding Revenue Bonds, Series 2016B, due 2029; $30 million of Washoe County, Nevada Water Facilities Refunding Revenue Bonds, Series 2016C, due 2036; $20 million of Humboldt County, Nevada Pollution Control Refunding Revenue Bonds, Series 2016A due 2029; and $20 million of Washoe County, Nevada Water Facilities Refunding Revenue Bonds, Series 2016G, due 2036. The Humboldt County Series 2016A and Series 2016B bonds were offered at a term rate of 3.550%. The Washoe County Series 2016B and Series 2016G bonds were offered at a fixed rate of 3.625% and the Washoe County Series 2016C and Series 2016F bonds were offered at a fixed rate of 4.125%. Sierra Pacific previously purchased the bonds as required by the bond indentures. Sierra Pacific used the net proceeds of the re-offering for general corporate purposes. Credit Facilities In June 2024, Sierra Pacific amended its existing $400 million secured credit facilities expiring in June 2026. The amendment extended the expiration date to June 2027, updated lenders and amended certain provisions of the existing credit agreement. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2024 | |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (50) (34) (67) (35) State income tax, net of federal income tax impacts (2) — (1) (2) Income tax effect of foreign income (1) (3) (2) 2 Effects of ratemaking (3) (3) (4) (3) Equity earnings (3) (2) (3) (1) Noncontrolling interest (1) (3) (1) (3) Other 1 — (1) — Effective income tax rate (38) % (24) % (58) % (21) % 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 six-month periods ended June 30, 2024 and 2023 totaled $771 million and $700 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 received net cash payments for federal income taxes from Berkshire Hathaway for the six-month periods ended June 30, 2024 and 2023 totaling $851 million and $864 million, respectively. |
PAC | |
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 (loss) income before income tax expense (benefit) is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax impacts 3 2 1 4 Income tax credits 22 (34) 137 36 Effects of ratemaking (1) 9 (26) 63 22 Valuation allowance — — — 7 Other — (2) 2 1 Effective income tax rate 55 % (39) % 224 % 91 % (1) Effects of ratemaking is primarily attributable to activity associated with excess deferred income taxes. The effective income tax rate for the three-month period ended June 30, 2024, of 55% resulted from an $85 million income tax benefit associated with a $154 million pre-tax loss, primarily related to a $251 million increase in wildfire loss accruals, net of expected insurance recoveries, as described in Note 11. The $85 million income tax benefit is primarily comprised of a $32 million benefit, or 21%, from the application of the federal statutory income tax rate to the pre-tax loss, a $33 million benefit, or 22%, from federal income tax credits and a $15 million benefit, or 9%, from effects of ratemaking. The effective income tax rate for the six-month period ended June 30, 2024, of 224% resulted from a $94 million income tax benefit associated with a $42 million pre-tax loss, primarily related to a $251 million increase in wildfire loss accruals, net of expected insurance recoveries, as described in Note 11. The $94 million income tax benefit is primarily comprised of a $9 million benefit, or 21%, from the application of the federal statutory income tax rate to the pre-tax loss, a $58 million benefit, or 137%, from federal income tax credits and a $27 million benefit, or 63%, from effects of ratemaking. The effective income tax rate for the six-month period ended June 30, 2023, of 91% resulted from a $140 million income tax benefit associated with a $154 million pre-tax loss, primarily related to a $408 million increase in wildfire loss accruals, net of expected insurance recoveries, as described in Note 11. The $140 million income tax benefit is primarily comprised of a $32 million benefit, or 21%, from the application of the federal statutory income tax rate to the pre-tax loss, a $55 million benefit, or 36%, from federal income tax credits and a $34 million benefit, or 22%, from effects of ratemaking. 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 June 30, 2024 and 2023, totaled $33 million and $26 million, respectively. PTCs recognized for the six-month periods ended June 30, 2024 and 2023, totaled $58 million and $55 million, respectively. Berkshire Hathaway includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, PacifiCorp's provision for federal and state income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For the six-month periods ended June 30, 2024 and 2023, PacifiCorp received net cash payments for federal and state income tax from BHE totaling $167 million and $205 million. As of June 30, 2024, net income taxes payable to BHE were $24 million. As of December 31, 2023, net income taxes receivable from BHE were $114 million. |
MEC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to MidAmerican Energy's effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (892) (251) (1,009) (347) State income tax, net of federal income tax impacts (13) (6) (14) (10) Effects of ratemaking — (4) (2) (6) Other, net (4) (2) (1) (1) Effective income tax rate (888) % (242) % (1,005) % (343) % Income tax credits relate primarily to production tax credits ("PTC") earned by MidAmerican Energy's wind- and solar-powered generating facilities. Federal renewable electricity PTCs are earned as energy from qualifying wind- and solar-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. MidAmerican Energy recognizes its renewable electricity PTCs throughout the year based on when the credits are earned and excludes them from the annual effective tax rate that is the basis for the interim recognition of the remaining income tax expense. Wind- and solar-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs recognized for the six-month periods ended June 30, 2024 and 2023, totaled $434 million and $375 million, respectively. Berkshire Hathaway includes BHE and subsidiaries in its U.S. federal and Iowa state income tax returns. Consistent with established regulatory practice, MidAmerican Energy's provision for income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. MidAmerican Energy received net cash payments for income tax from BHE totaling $480 million and $520 million for the six-month periods ended June 30, 2024 and 2023, 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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (1,070) (266) (1,240) (335) State income tax, net of federal income tax impacts (20) (8) (17) (10) Effects of ratemaking — (5) (3) (5) Other, net (1) — (1) (1) Effective income tax rate (1,070) % (258) % (1,240) % (330) % Income tax credits relate primarily to production tax credits ("PTC") earned by MidAmerican Energy's wind- and solar-powered generating facilities. Federal renewable electricity PTCs are earned as energy from qualifying wind- and solar-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. MidAmerican Funding recognizes its renewable electricity PTCs throughout the year based on when the credits are earned and excludes them from the annual effective tax rate that is the basis for the interim recognition of the remaining income tax expense. Wind- and solar-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs recognized for the six-month periods ended June 30, 2024 and 2023, totaled $434 million and $375 million, respectively. Berkshire Hathaway includes BHE and subsidiaries in its U.S. federal and Iowa state income tax returns. Consistent with established regulatory practice, MidAmerican Funding's and MidAmerican Energy's provisions for income tax have been computed on a stand-alone basis, and substantially all of their currently payable or receivable income tax is remitted to or received from BHE. MidAmerican Funding received net cash payments for income tax from BHE totaling $482 million and $522 million for the six-month periods ended June 30, 2024 and 2023, respectively. |
NPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (5) (11) (4) (10) Income tax credits (4) — (5) — Other 1 — 1 (1) Effective income tax rate 13 % 10 % 13 % 10 % Effects of ratemaking is primarily attributable to the recognition of excess deferred income taxes related to 2017 tax reform pursuant to an order issued by the PUCN effective January 1, 2021. 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 stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. Nevada Power made cash payments for federal income tax to BHE of $93 million and $— million for the six-month periods ended June 30, 2024 and 2023, respectively. |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (12) (9) (13) (9) Other (1) 1 — 1 Effective income tax rate 8 % 13 % 8 % 13 % Effects of ratemaking is primarily attributable to the recognition of excess deferred income taxes related to 2017 tax reform pursuant to an order issued by the PUCN effective January 1, 2020. Berkshire Hathaway includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, Sierra Pacific's provision for federal income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. Sierra Pacific made cash payments for federal income tax to BHE of $56 million and $— million for the six-month periods ended June 30, 2024 and 2023, respectively. |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax impacts 1 2 3 2 Equity earnings 1 1 2 1 Noncontrolling interest (4) (11) (3) (10) Other, net — (1) — — Effective income tax rate 19 % 12 % 23 % 14 % Berkshire Hathaway Inc. includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, Eastern Energy Gas' provision for federal and state income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For current federal and state income taxes, Eastern Energy Gas had a receivable from BHE of $12 million and $67 million as of June 30, 2024 and December 31, 2023, respectively. The change is primarily due to the settlement of the income tax receivable balance through non-cash distributions in 2024. |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax impacts 4 5 4 5 Allowance for funds used during construction-equity — (1) — — Other, net — — 1 (1) Effective income tax rate 25 % 25 % 26 % 25 % Berkshire Hathaway Inc. includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, EGTS' provision for federal and state income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For current federal and state income taxes, EGTS had a receivable from BHE of $17 million and $57 million as of June 30, 2024 and December 31, 2023, respectively . The change is primarily due to the settlement of the income tax receivable balance through non-cash distributions in 2024. |
Employee Benefit Plans
Employee Benefit Plans | 6 Months Ended |
Jun. 30, 2024 | |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Pension: Service cost $ 5 $ 5 $ 8 $ 9 Interest cost 27 27 53 55 Expected return on plan assets (33) (31) (64) (62) Settlement — — — (5) Net amortization 2 3 4 7 Net periodic benefit cost $ 1 $ 4 $ 1 $ 4 Other postretirement: Service cost $ 1 $ 2 $ 2 $ 3 Interest cost 8 7 15 14 Expected return on plan assets (9) (10) (17) (18) Net amortization — — (1) (1) Net periodic benefit credit $ — $ (1) $ (1) $ (2) 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 $5 million, respectively, during 2024. As of June 30, 2024, $6 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 for the United Kingdom pension plan included the following components (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Service cost $ 2 $ 1 $ 3 $ 3 Interest cost 13 14 27 28 Expected return on plan assets (19) (21) (39) (40) Net amortization 7 7 14 13 Net periodic benefit cost $ 3 $ 1 $ 5 $ 4 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 £9 million during 2024. As of June 30, 2024, £4 million, or $6 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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Pension: Interest cost $ 9 $ 9 $ 18 $ 19 Expected return on plan assets (12) (12) (24) (24) Net amortization 3 3 5 6 Net periodic benefit (credit) cost $ — $ — $ (1) $ 1 Other postretirement: Service cost $ — $ 1 $ — $ 1 Interest cost 3 2 6 5 Expected return on plan assets (3) (4) (6) (7) Net amortization (1) — (2) (1) Net periodic benefit credit $ (1) $ (1) $ (2) $ (2) |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Pension: Service cost $ 3 $ 3 $ 5 $ 6 Interest cost 8 8 16 16 Expected return on plan assets (8) (8) (16) (16) Settlement — — — (5) Net amortization (1) — (1) — Net periodic benefit cost $ 2 $ 3 $ 4 $ 1 Other postretirement: Service cost $ 1 $ 1 $ 2 $ 2 Interest cost 3 3 6 6 Expected return on plan assets (4) (4) (8) (8) Net amortization 1 — 1 — Net periodic benefit cost $ 1 $ — $ 1 $ — Amounts other than the service cost for pension and other postretirement benefit plans are recorded in Other, net on the Statements of Operations. Employer contributions to the pension and other postretirement benefit plans during 2024 are expected to be $8 million and $2 million, respectively. As of June 30, 2024, $3 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 Plans Refer to Note 7 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 June 30, December 31, 2024 2023 Qualified Pension Plan - Other non-current assets $ 38 $ 38 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (6) (6) Other Postretirement Plans - Other non-current assets 10 10 |
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 June 30, December 31, 2024 2023 Qualified Pension Plan - Other non-current assets $ 55 $ 53 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (5) (5) Other Postretirement Plans - Other non-current assets — 1 |
EEGH | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Eastern 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 $4 million to the MidAmerican Energy Company Retirement Plan for the six-month periods ended June 30, 2024 and 2023, and $1 million to the MidAmerican Energy Company Welfare Benefit Plan for the six-month periods ended June 30, 2024 and 2023. 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 June 30, 2024 and December 31, 2023, 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 $53 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 $3 million and $4 million to the MidAmerican Energy Company Retirement Plan for the six-month periods ended June 30, 2024 and 2023, respectively, and $1 million to the MidAmerican Energy Company Welfare Benefit Plan for the six-month periods ended June 30, 2024 and 2023. 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 June 30, 2024 and December 31, 2023, EGTS' amount due to MidAmerican Energy associated with these plans and reflected in other long-term liabilities on the Consolidated Balance Sheets was $48 million. |
Asset Retirement Obligations
Asset Retirement Obligations | 6 Months Ended |
Jun. 30, 2024 | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations In May 2024, the United States Environmental Protection Agency ("EPA") published its final rule on legacy coal combustion residuals ("CCR") surface impoundments and CCR management units ("CCRMUs") in the Federal Register. CCRMUs include CCR surface impoundments and landfills closed before October 19, 2015 and inactive CCR landfills. The final rule contains three main components: (1) a definition for legacy CCR surface impoundments, which are inactive surface impoundments at inactive generating facilities that must adhere to the same regulations as inactive CCR impoundments at active generating facilities, barring location restrictions and liner design criteria, with customized compliance deadlines; (2) groundwater monitoring, corrective action, closure, and post closure care requirements for CCRMUs, which may be located at active generating facilities and inactive generating facilities with a legacy CCR surface impoundment; and (3) the owners and operators of inactive generating facilities must identify the presence of legacy CCR surface impoundments and comply with all rule requirements for surface impoundments; and the owners and operators of active generating facilities and inactive generating facilities with a legacy CCR surface impoundment must prepare Facility Evaluation Reports ("FERs") that identify and describe the CCRMUs and determine whether closure is required. In a manner consistent with existing CCR rules, owners and operators must publish FERs on their CCR websites in two parts, within 15 months (Part 1) and 27 months (Part 2) of the final rule's effective date in November 2024. The Company is currently evaluating the final rule and does not anticipate identifying any legacy surface impoundments, but does anticipate identifying CCRMUs subject to the rule. Due to the number of site investigations warranted by this rule and the nature of engineering and other studies required at each site, the Company is unable to reasonably estimate the potential impact, which may be material, to its asset retirement obligations. |
PAC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations In May 2024, the United States Environmental Protection Agency ("EPA") published its final rule on legacy coal combustion residuals ("CCR") surface impoundments and CCR management units ("CCRMUs") in the Federal Register. CCRMUs include CCR surface impoundments and landfills closed before October 19, 2015 and inactive CCR landfills. The final rule contains three main components: (1) a definition for legacy CCR surface impoundments, which are inactive surface impoundments at inactive generating facilities that must adhere to the same regulations as inactive CCR impoundments at active generating facilities, barring location restrictions and liner design criteria, with customized compliance deadlines; (2) groundwater monitoring, corrective action, closure, and post closure care requirements for CCRMUs, which may be located at active generating facilities and inactive generating facilities with a legacy CCR surface impoundment; and (3) the owners and operators of inactive generating facilities must identify the presence of legacy CCR surface impoundments and comply with all rule requirements for surface impoundments; and the owners and operators of active generating facilities and inactive generating facilities with a legacy CCR surface impoundment must prepare Facility Evaluation Reports ("FERs") that identify and describe the CCRMUs and determine whether closure is required. In a manner consistent with existing CCR rules, owners and operators must publish FERs on their CCR websites in two parts, within 15 months (Part 1) and 27 months (Part 2) of the final rule's effective date in November 2024. PacifiCorp is currently evaluating the final rule and does not anticipate identifying any legacy surface impoundments, but does anticipate identifying CCRMUs subject to the rule. Due to the number of site investigations warranted by this rule and the nature of engineering and other studies required at each site, PacifiCorp is unable to reasonably estimate the potential impact, which may be material, to its asset retirement obligations. |
MEC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations In May 2024, the United States Environmental Protection Agency ("EPA") published its final rule on legacy coal combustion residuals ("CCR") surface impoundments and CCR management units ("CCRMUs") in the Federal Register. CCRMUs include CCR surface impoundments and landfills closed before October 19, 2015 and inactive CCR landfills. The final rule contains three main components: (1) a definition for legacy CCR surface impoundments, which are inactive surface impoundments at inactive generating facilities that must adhere to the same regulations as inactive CCR impoundments at active generating facilities, barring location restrictions and liner design criteria, with customized compliance deadlines; (2) groundwater monitoring, corrective action, closure, and post closure care requirements for CCRMUs, which may be located at active generating facilities and inactive generating facilities with a legacy CCR surface impoundment; and (3) the owners and operators of inactive generating facilities must identify the presence of legacy CCR surface impoundments and comply with all rule requirements for surface impoundments; and the owners and operators of active generating facilities and inactive generating facilities with a legacy CCR surface impoundment must prepare Facility Evaluation Reports ("FERs") that identify and describe the CCRMUs and determine whether closure is required. In a manner consistent with existing CCR rules, owners and operators must publish FERs on their CCR websites in two parts, within 15 months (Part 1) and 27 months (Part 2) of the final rule's effective date in November 2024. MidAmerican Energy is currently evaluating the final rule and does not anticipate identifying any legacy surface impoundments, but does anticipate identifying CCRMUs subject to the rule. Due to the number of site investigations warranted by this rule and the nature of engineering and other studies required at each site, MidAmerican Energy is unable to reasonably estimate the potential impact, which may be material, to its asset retirement obligations. |
MidAmerican Funding, LLC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations Refer to Note 8 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations In May 2024, the United States Environmental Protection Agency ("EPA") published its final rule on legacy coal combustion residuals ("CCR") surface impoundments and CCR management units ("CCRMUs") in the Federal Register. CCRMUs include CCR surface impoundments and landfills closed before October 19, 2015 and inactive CCR landfills. The final rule contains three main components: (1) a definition for legacy CCR surface impoundments, which are inactive surface impoundments at inactive generating facilities that must adhere to the same regulations as inactive CCR impoundments at active generating facilities, barring location restrictions and liner design criteria, with customized compliance deadlines; (2) groundwater monitoring, corrective action, closure, and post closure care requirements for CCRMUs, which may be located at active generating facilities and inactive generating facilities with a legacy CCR surface impoundment; and (3) the owners and operators of inactive generating facilities must identify the presence of legacy CCR surface impoundments and comply with all rule requirements for surface impoundments; and the owners and operators of active generating facilities and inactive generating facilities with a legacy CCR surface impoundment must prepare Facility Evaluation Reports ("FERs") that identify and describe the CCRMUs and determine whether closure is required. In a manner consistent with existing CCR rules, owners and operators must publish FERs on their CCR websites in two parts, within 15 months (Part 1) and 27 months (Part 2) of the final rule's effective date in November 2024. Nevada Power is currently evaluating the final rule and does not anticipate identifying any legacy surface impoundments, but does anticipate identifying CCRMUs subject to the rule. Due to the number of site investigations warranted by this rule and the nature of engineering and other studies required at each site, Nevada Power is unable to reasonably estimate the potential impact, which may be material, to its asset retirement obligations. |
SPPC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations In May 2024, the United States Environmental Protection Agency ("EPA") published its final rule on legacy coal combustion residuals ("CCR") surface impoundments and CCR management units ("CCRMUs") in the Federal Register. CCRMUs include CCR surface impoundments and landfills closed before October 19, 2015 and inactive CCR landfills. The final rule contains three main components: (1) a definition for legacy CCR surface impoundments, which are inactive surface impoundments at inactive generating facilities that must adhere to the same regulations as inactive CCR impoundments at active generating facilities, barring location restrictions and liner design criteria, with customized compliance deadlines; (2) groundwater monitoring, corrective action, closure, and post closure care requirements for CCRMUs, which may be located at active generating facilities and inactive generating facilities with a legacy CCR surface impoundment; and (3) the owners and operators of inactive generating facilities must identify the presence of legacy CCR surface impoundments and comply with all rule requirements for surface impoundments; and the owners and operators of active generating facilities and inactive generating facilities with a legacy CCR surface impoundment must prepare Facility Evaluation Reports ("FERs") that identify and describe the CCRMUs and determine whether closure is required. In a manner consistent with existing CCR rules, owners and operators must publish FERs on their CCR websites in two parts, within 15 months (Part 1) and 27 months (Part 2) of the final rule's effective date in November 2024. Sierra Pacific is currently evaluating the final rule and does not anticipate identifying any legacy surface impoundments, but does anticipate that it may identify CCRMUs subject to the rule. Due to the number of site investigations warranted by this rule and the nature of engineering and other studies required at each site, Sierra Pacific is unable to reasonably estimate the potential impact, which may be material, to its asset retirement obligations. |
Risk Management and Hedging Act
Risk Management and Hedging Activities | 6 Months Ended |
Jun. 30, 2024 | |
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 has the ability to 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 10 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 June 30, 2024 Not designated as hedging contracts (1) : Commodity assets $ 5 $ 5 $ 14 $ 3 $ 27 Commodity liabilities — (2) (148) (16) (166) Total 5 3 (134) (13) (139) Total derivatives 5 3 (134) (13) (139) Cash collateral receivable — — 48 — 48 Total derivatives - net basis $ 5 $ 3 $ (86) $ (13) $ (91) As of December 31, 2023 Not designated as hedging contracts (1) : Commodity assets $ 21 $ 2 $ 7 $ 2 $ 32 Commodity liabilities (3) — (83) (22) (108) Total 18 2 (76) (20) (76) Total derivatives 18 2 (76) (20) (76) Cash collateral receivable (2) — 12 — 10 Total derivatives - net basis $ 16 $ 2 $ (64) $ (20) $ (66) (1) PacifiCorp's commodity derivatives are generally included in rates. As of June 30, 2024, a regulatory asset of $139 million was recorded related to the net derivative liability of $139 million. As of December 31, 2023, a regulatory asset of $76 million was recorded related to the net derivative liability of $76 million. The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory assets (liabilities) and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets (liabilities), as well as amounts reclassified to earnings (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 113 $ (109) $ 76 $ (270) Changes in fair value recognized in regulatory assets 73 102 164 92 Net gains (losses) reclassified to operating revenue 2 (2) 3 (8) Net (losses) gains reclassified to energy costs (49) — (104) 177 Ending balance $ 139 $ (9) $ 139 $ (9) 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 June 30, December 31, Measure 2024 2023 Electricity purchases, net Megawatt hours 2 2 Natural gas purchases Decatherms 154 153 Credit Risk PacifiCorp is exposed to counterparty credit risk associated with wholesale energy supply and marketing activities with other utilities, energy marketing companies, financial institutions and other market participants. Credit risk may be concentrated to the extent PacifiCorp's counterparties have similar economic, industry or other characteristics and due to direct or indirect relationships among the counterparties. Before entering into a transaction, PacifiCorp analyzes the financial condition of each significant wholesale counterparty, establishes limits on the amount of unsecured credit to be extended to each counterparty and evaluates the appropriateness of unsecured credit limits on an ongoing basis. To further mitigate wholesale counterparty credit risk, PacifiCorp enters into netting and collateral arrangements that may include margining and cross-product netting agreements and obtains third‑party guarantees, letters of credit and cash deposits. If required, PacifiCorp exercises rights under these arrangements, including calling on the counterparty's credit support arrangement. Collateral and Contingent Features In accordance with industry practice, certain wholesale agreements, including derivative contracts, contain credit support provisions that in part base certain collateral requirements on credit ratings for senior unsecured debt as reported by one or more of the recognized credit rating agencies. These agreements may provide bilateral rights to demand cash or other security if credit exposures on a net basis exceed specified rating-dependent threshold levels ("credit-risk-related contingent features"). These agreements and other agreements that do not refer to specified rating-dependent thresholds may provide the right for counterparties to demand "adequate assurance" if there is a material adverse change in PacifiCorp's creditworthiness. These rights can vary by contract and by counterparty. As of June 30, 2024, PacifiCorp's issuer credit ratings for its senior secured debt and its issuer credit ratings for senior unsecured debt from the recognized credit rating agencies were investment grade. The aggregate fair value of PacifiCorp's derivative contracts in liability positions with objective credit-risk-related contingent features totaled $159 million and $108 million as of June 30, 2024 and December 31, 2023, respectively, for which PacifiCorp had posted collateral of $48 million and $12 million, respectively, in the form of cash deposits. If all credit-risk-related contingent features for derivative contracts in liability positions had been triggered as of June 30, 2024 and December 31, 2023, PacifiCorp would have been required to post $90 million and $84 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 10 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 June 30, 2024 Not designated as hedging contracts (1) - Commodity liabilities $ — $ (85) $ (16) $ (101) As of December 31, 2023 Not designated as hedging contracts (1) - Commodity liabilities $ — $ (62) $ (6) $ (68) (1) Nevada Power's commodity derivatives not designated as hedging contracts are included in regulated rates. As of June 30, 2024 a regulatory asset of $101 million was recorded related to the net derivative liability of $101 million. As of December 31, 2023 a regulatory asset of $68 million was recorded related to the net derivative liability of $68 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 June 30, December 31, Measure 2024 2023 Electricity purchases Megawatt hours 2 1 Natural gas purchases Decatherms 131 132 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 June 30, 2024, 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 10 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 Long-term Assets Liabilities Liabilities Total As of June 30, 2024 Not designated as hedging contracts (1) - Commodity assets $ 1 $ — $ — $ 1 Commodity liabilities — (24) (4) (28) Total derivative - net basis $ 1 $ (24) $ (4) $ (27) As of December 31, 2023 Not designated as hedging contracts (1) - Commodity liabilities $ — $ (16) $ — $ (16) (1) Sierra Pacific's commodity derivatives not designated as hedging contracts are included in regulated rates. As of June 30, 2024 a net regulatory asset of $27 million was recorded related to the net derivative liability of $27 million. As of December 31, 2023 a net regulatory asset of $16 million was recorded related to the net derivative liability of $16 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 June 30, December 31, Measure 2024 2023 Electricity purchases Megawatt hours 1 — Natural gas purchases Decatherms 56 55 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 June 30, 2024, Sierra Pacific's credit ratings for its senior secured debt and its issuer credit ratings for senior unsecured debt from the recognized credit rating agencies were investment grade. The aggregate fair value of Sierra Pacific's derivative contracts in liability positions with specific credit-risk-related contingent features totaled $— million and $1 million as of June 30, 2024 and December 31, 2023, respectively, which represents the amount of collateral to be posted if all credit risk related contingent features for derivative contracts in liability positions had been triggered. Sierra Pacific's collateral requirements could fluctuate considerably due to market price volatility, changes in credit ratings, changes in legislation or regulation or other factors. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, 2024: Assets: Commodity derivatives $ — $ 126 $ 7 $ (41) $ 92 Interest rate derivatives 39 46 12 — 97 Mortgage loans held for sale — 705 — — 705 Money market mutual funds 3,037 — — — 3,037 Debt securities: U.S. government obligations 1,844 — — — 1,844 Corporate obligations — 95 — — 95 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 460 — — — 460 International companies 1,748 — — — 1,748 Investment funds 305 — — — 305 $ 7,433 $ 975 $ 19 $ (41) $ 8,386 Liabilities: Commodity derivatives $ (2) $ (202) $ (140) $ 96 $ (248) Foreign currency exchange rate derivatives — (13) — — (13) Interest rate derivatives — (3) (1) 2 (2) $ (2) $ (218) $ (141) $ 98 $ (263) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2023: Assets: Commodity derivatives $ 1 $ 121 $ 4 $ (31) $ 95 Interest rate derivatives 38 40 7 — 85 Mortgage loans held for sale — 451 — — 451 Money market mutual funds 1,310 — — — 1,310 Debt securities: U.S. government obligations 1,253 — — — 1,253 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Equity securities: U.S. companies 427 — — — 427 International companies 2,226 — — — 2,226 Investment funds 268 — — — 268 $ 5,523 $ 685 $ 11 $ (31) $ 6,188 Liabilities: Commodity derivatives $ (7) $ (134) $ (95) $ 54 $ (182) Foreign currency exchange rate derivatives — (8) — — (8) Interest rate derivatives — (7) — 4 (3) $ (7) $ (149) $ (95) $ 58 $ (193) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $57 million and $27 million as of June 30, 2024 and December 31, 2023, 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 Six-Month Periods Ended June 30, Ended June 30, Interest Interest Commodity Rate Commodity Rate Derivatives Derivatives Derivatives Derivatives 2024: Beginning balance $ (135) $ 11 $ (91) $ 7 Changes included in earnings (1) (2) — (5) 4 Changes in fair value recognized in net regulatory assets (24) — (80) — Settlements 28 — 43 — Ending balance $ (133) $ 11 $ (133) $ 11 2023: Beginning balance $ (150) $ 15 $ (59) $ 6 Changes included in earnings (1) 1 (4) 10 5 Changes in fair value recognized in OCI — — (3) — Changes in fair value recognized in net regulatory assets (85) — (183) — Settlements 60 — 61 — Ending balance $ (174) $ 11 $ (174) $ 11 (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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 56,470 $ 50,998 $ 52,172 $ 48,624 |
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 June 30, 2024: Assets: Commodity derivatives $ — $ 27 $ — $ (19) $ 8 Money market mutual funds 1,333 — — — 1,333 Investment funds 28 — — — 28 $ 1,361 $ 27 $ — $ (19) $ 1,369 Liabilities - Commodity derivatives $ — $ (166) $ — $ 67 $ (99) As of December 31, 2023: Assets: Commodity derivatives $ — $ 32 $ — $ (14) $ 18 Money market mutual funds 175 — — — 175 Investment funds 26 — — — 26 $ 201 $ 32 $ — $ (14) $ 219 Liabilities - Commodity derivatives $ — $ (108) $ — $ 24 $ (84) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $48 million and $10 million as of June 30, 2024 and December 31, 2023, 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. 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 9 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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 13,750 $ 12,608 $ 10,410 $ 9,722 |
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 June 30, 2024: Assets: Commodity derivatives $ — $ 7 $ 2 $ (4) $ 5 Money market mutual funds 927 — — — 927 Debt securities: U.S. government obligations 256 — — — 256 Corporate obligations — 95 — — 95 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 460 — — — 460 International companies 9 — — — 9 Investment funds 22 — — — 22 $ 1,674 $ 105 $ 2 $ (4) $ 1,777 Liabilities - commodity derivatives $ — $ (18) $ (4) $ 6 $ (16) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2023: Assets: Commodity derivatives $ — $ 15 $ — $ (2) $ 13 Money market mutual funds 643 — — — 643 Debt securities: U.S. government obligations 257 — — — 257 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Equity securities: U.S. companies 427 — — — 427 International companies 9 — — — 9 Investment funds 19 — — — 19 $ 1,355 $ 88 $ — $ (2) $ 1,441 Liabilities - commodity derivatives $ — $ (15) $ (11) $ 14 $ (12) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $2 million and $12 million as of June 30, 2024 and December 31, 2023, 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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ (6) $ (5) $ (11) $ 5 Changes in fair value recognized in net regulatory assets (2) (14) (6) (27) Settlements 6 5 15 8 Ending balance $ (2) $ (14) $ (2) $ (14) MidAmerican Energy's long-term debt is carried at cost on the Balance Sheets. The fair value of MidAmerican Energy's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of MidAmerican Energy's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of MidAmerican Energy's long-term debt (in millions): As of June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Long-term debt $ 9,359 $ 8,431 $ 8,766 $ 8,252 |
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 9 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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Long-term debt $ 9,599 $ 8,686 $ 9,006 $ 8,515 |
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 June 30, 2024: Assets: Money market mutual funds $ 90 $ — $ — $ 90 Investment funds 8 — — 8 $ 98 $ — $ — $ 98 Liabilities - commodity derivatives $ — $ — $ (101) $ (101) As of December 31, 2023: Assets: Money market mutual funds $ 10 $ — $ — $ 10 Investment funds 4 — — 4 $ 14 $ — $ — $ 14 Liabilities - commodity derivatives $ — $ — $ (68) $ (68) 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 June 30, 2024 and December 31, 2023, 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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ (101) $ (116) $ (68) $ (52) Changes in fair value recognized in regulatory assets (17) (54) (58) (119) Settlements 17 44 25 45 Ending balance $ (101) $ (126) $ (101) $ (126) 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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,393 $ 3,284 $ 3,392 $ 3,417 |
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 June 30, 2024: Assets: Commodity derivatives $ — $ — $ 1 $ 1 Money market mutual funds 64 — — 64 Investment funds 2 — — 2 $ 66 $ — $ 1 $ 67 Liabilities - commodity derivatives $ — $ — $ (28) $ (28) As of December 31, 2023: Assets: Money market mutual funds $ 41 $ — $ — $ 41 Investment funds 1 — — 1 $ 42 $ — $ — $ 42 Liabilities - commodity derivatives $ — $ — $ (16) $ (16) 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 June 30, 2024 and December 31, 2023, 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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ (26) $ (33) $ (16) $ (13) Changes in fair value recognized in regulatory assets (5) (17) (16) (37) Settlements 4 14 5 14 Ending balance $ (27) $ (36) $ (27) $ (36) 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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,526 $ 1,486 $ 1,293 $ 1,311 |
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 June 30, 2024: Assets: Money market mutual funds $ 107 $ — $ — $ 107 Equity securities: Investment funds 17 — — 17 $ 124 $ — $ — $ 124 Liabilities: Foreign currency exchange rate derivatives $ — $ (13) $ — $ (13) $ — $ (13) $ — $ (13) As of December 31, 2023: Assets: Money market mutual funds $ 62 $ — $ — $ 62 Equity securities: Investment funds 19 — — 19 $ 81 $ — $ — $ 81 Liabilities: Foreign currency exchange rate derivatives $ — $ (8) $ — $ (8) $ — $ (8) $ — $ (8) 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 following table presents the carrying value and estimated fair value of Eastern Energy Gas' long-term debt (in millions): As of June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,247 $ 2,947 $ 3,254 $ 2,968 |
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 June 30, 2024: Assets: Money market mutual funds $ 34 $ — $ — $ 34 Equity securities: Investment funds 17 — — 17 $ 51 $ — $ — $ 51 As of December 31, 2023: Assets: Money market mutual funds $ 5 $ — $ — $ 5 Equity securities: Investment funds 19 — — 19 $ 24 $ — $ — $ 24 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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Long-term debt $ 1,584 $ 1,360 $ 1,583 $ 1,386 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
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. Fuel Contracts During the six-month period ended June 30, 2024, PacifiCorp entered into certain coal supply and transportation agreements totaling $1.9 billion through 2030. During the six-month period ended June 30, 2024, MidAmerican Energy entered into firm construction commitments totaling $150 million for the remainder of 2024 through 2025 related to the construction and repowering of wind-powered generating facilities in Iowa. During the six-month period ended June 30, 2024, the Nevada Utilities entered into engineering, procurement and construction agreements along with equipment and materials agreements totaling $2.1 billion through 2028 for the Greenlink Nevada transmission expansion program that will be developed in western and northern Nevada. During the six-month period ended June 30, 2024, Sierra Pacific entered into engineering, procurement and construction agreements along with equipment and materials agreements totaling $986 million for a 400-MW solar photovoltaic facility with an additional 400-MW of co-located battery storage that will be developed in Churchill County, Nevada. 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 owned the Lower Klamath Project, PacifiCorp continued to operate the facilities under an operation and maintenance agreement with the KRRC until each facility was ready for removal. PacifiCorp's obligations under the operations and maintenance agreement terminated in January 2024. Removal of the Copco No. 2 facility was completed in November 2023, and removal of the remaining three dams (J.C. Boyle, Copco No. 1 and Iron Gate) began in January 2024 and is anticipated to be completed in late 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. In May 2024, the KRRC communicated to PacifiCorp and the States that it expects to require the $45 million of contingency funds. Legal Matters The Company is party to a variety of legal actions, including litigation, arising out of the normal course of business, some of which assert claims for damages in substantial amounts and are described below. For certain legal actions, parties at times may seek to impose fines, penalties and other costs. Pursuant to ASC 450, " Contingencies ," a provision for a loss contingency is recorded when it is probable a liability is likely to occur and the amount of loss can be reasonably estimated. The Company evaluates the related range of reasonably estimated losses and records a loss based on its best estimate within that range or the lower end of the range if there is no better estimate. Wildfires As of the date of this filing, a significant number of complaints and demands alleging similar claims related to the Wildfires have been filed in Oregon and California, including a class action complaint in Oregon associated with 2020 Wildfires for which certain jury verdicts were issued as described below. The plaintiffs seek damages for economic losses, noneconomic losses, including mental suffering, emotional distress, personal injury and loss of life, punitive damages, other damages and attorneys' fees. Several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned complaints. Additionally, the U.S. and Oregon Departments of Justice have informed PacifiCorp that they are contemplating filing actions against PacifiCorp in connection with certain of the Oregon 2020 Wildfires. PacifiCorp is actively cooperating with the U.S. and Oregon Departments of Justice on resolving these alleged claims through alternative dispute resolution. As of June 30, 2024, amounts sought in outstanding complaints and demands filed in Oregon and in certain demands made in California totaled approximately $3 billion, excluding any doubling or trebling of damages included in the complaints and the mass complaints described below that seek $43 billion. Generally, the complaints filed in California do not specify damages sought and are excluded from this amount. For class actions, amounts specified by the plaintiffs in the complaints include amounts based on estimates of the potential class size, which ultimately may be significantly greater than estimated. Additionally, damages are not limited to the amounts specified in the initially filed complaints as plaintiffs are frequently allowed to amend their complaints to add additional damages and amounts awarded in a court proceeding may be significantly greater than the damages specified. Oregon law provides for doubling of economic and property damages in the event the defendant is found to have acted with gross negligence, recklessness, willfulness or malice. Oregon law provides for trebling of the damages associated with timber, shrubs and produce in the event the defendant is determined to have willfully and intentionally trespassed. 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. Based on available information to date, PacifiCorp believes it is probable that losses will be incurred associated with the Wildfires. Final determinations of liability will only be made following the completion of comprehensive investigations, litigation or similar processes, the outcome of which, if adverse, could, in the aggregate, have a material adverse effect on PacifiCorp's financial condition. 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, which resulted in real and personal property and natural resource damage, personal injuries and loss of life and widespread power outages in Oregon and Northern California. The wildfires spread across certain parts of PacifiCorp's service territory and surrounding areas across multiple counties in Oregon and California, including Siskiyou County, California; Jackson County, Oregon; Douglas County, Oregon; Marion County, Oregon; Lincoln County, Oregon; and Klamath County, Oregon, burning over 500,000 acres in aggregate. Third-party reports for these wildfires indicate over 2,000 structures destroyed, including residences; several structures damaged; multiple individuals injured; and several fatalities. Investigations into the cause and origin of each wildfire are complex and ongoing and have been or are being conducted by various entities, including the U.S. Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. The James Case On September 30, 2020, a class action complaint against PacifiCorp was filed, captioned Jeanyne James et al. v. PacifiCorp et al., (" James ") in Oregon Circuit Court in Multnomah County, Oregon ("Multnomah County Circuit Court Oregon"). The complaint was filed by Oregon residents and businesses who seek to represent a class of all Oregon citizens and entities whose real or personal property was harmed beginning on September 7, 2020, by wildfires in Oregon allegedly caused by PacifiCorp. In November 2021, the plaintiffs filed an amended complaint to limit the class to include Oregon citizens allegedly impacted by the Santiam Canyon, Echo Mountain Complex, South Obenchain and 242 wildfires. In May 2022, the Multnomah County Circuit Court Oregon granted issue class certification and consolidated the James case with several other cases. While PacifiCorp's pre-trial request for immediate appeal of the class certification was denied, it subsequently filed to appeal the class issues as described below. In April 2023, the jury trial for James with respect to 17 named plaintiffs began in Multnomah County Circuit Court Oregon. In June 2023, the jury issued its verdict finding PacifiCorp liable to the 17 named plaintiffs and to the class with respect to the four wildfires. The jury found PacifiCorp's conduct grossly negligent, reckless and willful as to each plaintiff and the entire class. The jury awarded the 17 named plaintiffs $90 million of damages, including $4 million of economic damages, $68 million of noneconomic damages and $18 million of punitive damages based on a 0.25 multiplier of the economic and noneconomic damages. In September 2023, the Multnomah County Circuit Court Oregon ordered trial dates for three damages phase trials described below wherein plaintiffs in each of the three damages phase trials would present evidence regarding their damages. In January 2024, the Multnomah County Circuit Court Oregon entered a limited judgment and money award for the June 2023 James verdict. The limited judgment awards $92 million of damages based on the amounts awarded by the jury, as well as doubling of the economic damages and offsetting of any insurance proceeds received by plaintiffs. The limited judgment created a lien against PacifiCorp, attaching a debt for the money awards. PacifiCorp posted a supersedeas bond, which stays any effort to seek payment of the judgment pending final resolution of any appeals. Under Oregon Revised Statutes 82.010, interest at a rate of 9% per annum will accrue on the judgment commencing at the date the judgment was entered until the entire money award is paid, amended or reversed by an appellate court. In January 2024, PacifiCorp filed a notice of appeal associated with the June 2023 verdict in James , including whether the case can proceed as a class action and filed a motion to stay further damages phase trials. On February 14, 2024, the Oregon Court of Appeals denied PacifiCorp's request to stay the damages phase trials. On February 13, 2024, the 17 named plaintiffs filed a notice of cross-appeal as to the January 2024 limited judgment and money award. The appeals process and further actions could take several years. In January 2024, the jury for the first James damages phase trial awarded nine plaintiffs $62 million of damages, including $6 million of economic damages and $56 million of noneconomic damages. After the jury verdict, the Multnomah County Circuit Court Oregon doubled the economic damages to $12 million and added $16 million of punitive damages using the 0.25 multiplier determined by the jury for the June 2023 James verdict bringing the total damages awarded to $84 million. PacifiCorp requested that the Multnomah County Circuit Court Oregon judge offset the damage awards by deducting insurance proceeds received by any of the nine plaintiffs, and on March 25, 2024, the Multnomah County Circuit Court Oregon granted in large part the offset request. In April 2024, the Multnomah County Circuit Court Oregon entered a limited judgment and money award for the January 2024 James verdict. The limited judgment awards $80 million of damages based on the amounts awarded by the jury and offsetting insurance proceeds received by plaintiffs. The limited judgment created a lien against PacifiCorp, attaching a debt for the money awards. In April 2024, PacifiCorp posted a supersedeas bond, which stays any effort to seek payment of the judgment pending final resolution of any appeals. PacifiCorp amended its January 2024 appeal of the June 2023 James verdict to include the January 2024 jury verdict. In March 2024, the jury for the second James damages phase trial awarded ten plaintiffs $42 million of damages, including $12 million of doubled economic damages, $23 million of noneconomic damages and $7 million of punitive damages using the 0.25 multiplier determined by the jury for the June 2023 James verdict. PacifiCorp requested that the Multnomah County Circuit Court Oregon judge offset the damage awards by deducting insurance proceeds received by any of the ten plaintiffs and on May 6, 2024, the Multnomah County Circuit Court Oregon granted the offset request. In June 2024, the Multnomah County Circuit Court Oregon entered a limited judgment and money award for the March 2024 James verdict. The limited judgment awards $38 million of damages based on the amounts awarded by the jury and offsetting insurance proceeds received by plaintiffs. The limited judgment created a lien against PacifiCorp, attaching a debt for the money awards. In July 2024, PacifiCorp posted a supersedeas bond, which stays any effort to seek payment of the judgment pending final resolution of any appeals. PacifiCorp further amended its appeal of the June 2023 James verdict to include the March 2024 jury verdict. In March 2024, settlement was reached with five commercial timber plaintiffs in the James consolidated cases, and the jury trial scheduled for April 2024 was cancelled. In April, May and July 2024, four separate mass complaints against PacifiCorp naming 1,443 individual class members were filed in Multnomah County Circuit Court Oregon referencing James as the lead case. These James mass complaints make damages only allegations seeking economic, noneconomic and punitive damages, as well as doubling of economic damages. PacifiCorp believes the magnitude of damages sought by the class members in the James mass complaints to be of remote likelihood of being awarded based on the amounts awarded in the jury verdicts described above that are being appealed. 2022 McKinney Fire According to the California Department of Forestry and Fire Protection, a wildfire began on July 29, 2022, in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California located in PacifiCorp's service territory, burning over 60,000 acres. Third-party reports indicate that the 2022 McKinney Fire resulted in 11 structures damaged; 185 structures destroyed, including residences; 12 injuries; and four fatalities. The cause of the 2022 McKinney Fire is undetermined and remains under investigation by the U.S. Forest Service, the California Public Utilities Commission, PacifiCorp and various experts engaged by PacifiCorp. Estimated Losses for and Settlements Associated with the Wildfires Based on the facts and circumstances available to PacifiCorp as of the date of this filing, including (i) ongoing cause and origin investigations; (ii) ongoing settlement and mediation discussions; (iii) other litigation matters and upcoming legal proceedings; and (iv) the status of the James case, PacifiCorp recorded cumulative estimated probable losses associated with the Wildfires of $2,658 million through June 30, 2024. PacifiCorp's cumulative accrual includes estimates of probable losses for fire suppression costs, real and personal property damages, natural resource damages and noneconomic damages such as personal injury damages and loss of life damages that it is reasonably able to estimate at this time and which is subject to change as additional relevant information becomes available. Through June 30, 2024, PacifiCorp paid $775 million in settlements associated with the 2020 Wildfires and paid an additional $246 million subsequent to June 30, 2024, for the Wildfires. To date, PacifiCorp has reached additional settlements associated with the Wildfires totaling $199 million that have yet to be paid. As a result of the settlements, various trials have been cancelled. The following table presents changes in PacifiCorp's liability for estimated losses associated with the Wildfires (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 1,705 $ 824 $ 1,723 $ 424 Accrued losses 251 141 251 541 Payments (73) (17) (91) (17) Ending balance $ 1,883 $ 948 $ 1,883 $ 948 As of June 30, 2024 and December 31, 2023, $445 million and $4 million of PacifiCorp's liability for estimated losses associated with the Wildfires is classified as a current liability captioned Wildfires liabilities on the Consolidated Balance Sheets. The amounts reflected as current as of June 30, 2024 reflect amounts reasonably expected to be paid out within the next year based on settlements reached as well as ongoing settlement and mediation efforts. The remainder of PacifiCorp's liability for estimated losses associated with the Wildfires as of June 30, 2024 and December 31, 2023 is classified as a noncurrent liability captioned Wildfires liabilities on the Consolidated Balance Sheets. The following table presents changes in PacifiCorp's receivable for expected insurance recoveries associated with the Wildfires (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 149 $ 287 $ 499 $ 246 Accruals — 92 — 133 Payments received (10) — (360) — Ending balance $ 139 $ 379 $ 139 $ 379 As of June 30, 2024, $15 million of PacifiCorp's receivable for expected insurance recoveries was included in Other receivables, net while the remaining $124 million was included in Other assets on the Consolidated Balance Sheets. As of December 31, 2023, $350 million of PacifiCorp's receivable for expected insurance recoveries was included in Other receivables, net while the remaining $149 million was included in Other assets on the Consolidated Balance Sheets. Insurance proceeds received to date relate to the 2020 Wildfires. During the three-month period ended June 30, 2024 and 2023, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the Wildfires of $251 million and $49 million, respectively. During the six-month periods ended June 30, 2024 and 2023, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the Wildfires of $251 million and $408 million, respectively. No additional insurance recoveries beyond those accrued and received to date are expected to be available. It is reasonably possible PacifiCorp will incur material additional losses beyond the amounts accrued for the Wildfires that could have a material adverse effect on PacifiCorp's financial condition. PacifiCorp is currently unable to reasonably estimate a specific range of possible additional losses that could be incurred due to the number of properties and parties involved, including claimants in the class to the James case, the variation in the types of properties and damages and the ultimate outcome of legal actions. HomeServices Antitrust Cases HomeServices is currently defending against several antitrust cases, all in federal district courts. In each case, plaintiffs claim HomeServices and certain of its subsidiaries (in one instance, HomeServices and BHE) conspired with co-defendants to artificially inflate real estate commissions by following and enforcing multiple listing service ("MLS") rules that require listing agents to offer a commission split to cooperating agents in order for the property to appear on the MLS ("Cooperative Compensation Rule"). None of the complaints specify damages sought. However, two cases allege Texas state law deceptive trade practices claims, for which plaintiffs have provided written notice of the damages sought totaling approximately $9 billion by separate notice as required by Texas law. In April 2019, the Burnett (formerly Sitzer) et al. v. HomeServices of America, Inc. et al. complaint was filed in the U.S. District Court for the Western District of Missouri (the "Burnett case"). This lawsuit, which was certified as a class in April 2022, was originally brought on behalf of named plaintiffs Joshua Sitzer and Amy Winger against the National Association of Realtors ("NAR"), Anywhere Real Estate, HomeServices of America, Inc., RE/MAX, LLC, and Keller Williams Realty, Inc. HSF Affiliates, LLC and BHH Affiliates, LLC, each a subsidiary of HomeServices, were subsequently added as defendants. Rhonda Burnett became a lead class plaintiff in June 2021. The jury trial commenced on October 16, 2023, and the jury returned a verdict for the plaintiffs on October 31, 2023, finding that the named defendants participated in a conspiracy to follow and enforce the Cooperative Compensation Rule, which conspiracy had the purpose or effect of raising, inflating, or stabilizing broker commission rates paid by home sellers. The jury further found that the class plaintiffs had proved damages in the amount of $1.8 billion. Joint and several liability applies for the co-defendants. Federal law authorizes trebling of damages and the award of pre-judgment interest and attorney fees. Prior to the trial, Anywhere Real Estate and RE/MAX, LLC reached settlement agreements with the plaintiffs. Subsequent to the trial, settlements were reached by Keller Williams and NAR on February 1, 2024 and March 15, 2024, respectively. The Anywhere Real Estate, RE/MAX, LLC and Keller Williams settlements received court approval on May 9, 2024, which has been appealed to the U.S. Court of Appeals for the Eighth Circuit. The NAR settlement is subject to court approval, which is scheduled for November 26, 2024. Final judgment has not yet been entered by the U.S. District Court for the Western District of Missouri. In April 2024, HomeServices agreed to terms with the plaintiffs to settle all claims asserted against HomeServices, HSF Affiliates, LLC and BHH Affiliates, LLC in the Burnett case as part of a proposed nationwide class settlement. The final settlement agreement, which includes scheduled payments over the next four years aggregating $250 million, has yet to be filed with the court and is ultimately subject to court approval. HomeServices recognized an after-tax charge of approximately $140 million during the three-month period ended March 31, 2024. If the settlement is not approved by the court, HomeServices intends to vigorously appeal on multiple grounds the jury's findings and damage award in the Burnett case, including whether the case can proceed as a class action. The appeals process and further actions could take several years. Guarantees The Company has entered into guarantees as part of the normal course of business and the sale or transfer of certain assets. These guarantees are not expected to have a material impact on the Company's consolidated financial results. |
PAC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments PacifiCorp has the following firm commitments that are not reflected on the Consolidated Balance Sheets. Fuel Contracts During the six-month period ended June 30, 2024, PacifiCorp entered into certain coal supply and transportation agreements totaling $1.9 billion through 2030. 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 owned the Lower Klamath Project, PacifiCorp continued to operate the facilities under an operation and maintenance agreement with the KRRC until each facility was ready for removal. PacifiCorp's obligations under the operations and maintenance agreement terminated in January 2024. Removal of the Copco No. 2 facility was completed in November 2023, and removal of the remaining three dams (J.C. Boyle, Copco No. 1 and Iron Gate) began in January 2024 and is anticipated to be completed in late 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. In May 2024, the KRRC communicated to PacifiCorp and the States that it expects to require the $45 million of contingency funds. Legal Matters PacifiCorp is party to a variety of legal actions, including litigation, arising out of the normal course of business, some of which assert claims for damages in substantial amounts and are described below. For certain legal actions, parties at times may seek to impose fines, penalties and other costs. Pursuant to ASC 450, " Contingencies ," a provision for a loss contingency is recorded when it is probable a liability is likely to occur and the amount of loss can be reasonably estimated. PacifiCorp evaluates the related range of reasonably estimated losses and records a loss based on its best estimate within that range or the lower end of the range if there is no better estimate. Wildfires As of the date of this filing, a significant number of complaints and demands alleging similar claims related to the Wildfires have been filed in Oregon and California, including a class action complaint in Oregon associated with 2020 Wildfires for which certain jury verdicts were issued as described below. The plaintiffs seek damages for economic losses, noneconomic losses, including mental suffering, emotional distress, personal injury and loss of life, punitive damages, other damages and attorneys' fees. Several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned complaints. Additionally, the U.S. and Oregon Departments of Justice have informed PacifiCorp that they are contemplating filing actions against PacifiCorp in connection with certain of the Oregon 2020 Wildfires. PacifiCorp is actively cooperating with the U.S. and Oregon Departments of Justice on resolving these alleged claims through alternative dispute resolution. As of June 30, 2024, amounts sought in outstanding complaints and demands filed in Oregon and in certain demands made in California totaled approximately $3 billion, excluding any doubling or trebling of damages included in the complaints and the mass complaints described below that seek $43 billion. Generally, the complaints filed in California do not specify damages sought and are excluded from this amount. For class actions, amounts specified by the plaintiffs in the complaints include amounts based on estimates of the potential class size, which ultimately may be significantly greater than estimated. Additionally, damages are not limited to the amounts specified in the initially filed complaints as plaintiffs are frequently allowed to amend their complaints to add additional damages and amounts awarded in a court proceeding may be significantly greater than the damages specified. Oregon law provides for doubling of economic and property damages in the event the defendant is found to have acted with gross negligence, recklessness, willfulness or malice. Oregon law provides for trebling of the damages associated with timber, shrubs and produce in the event the defendant is determined to have willfully and intentionally trespassed. 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. Based on available information to date, PacifiCorp believes it is probable that losses will be incurred associated with the Wildfires. Final determinations of liability will only be made following the completion of comprehensive investigations, litigation or similar processes, the outcome of which, if adverse, could, in the aggregate, have a material adverse effect on PacifiCorp's financial condition. 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, which resulted in real and personal property and natural resource damage, personal injuries and loss of life and widespread power outages in Oregon and Northern California. The wildfires spread across certain parts of PacifiCorp's service territory and surrounding areas across multiple counties in Oregon and California, including Siskiyou County, California; Jackson County, Oregon; Douglas County, Oregon; Marion County, Oregon; Lincoln County, Oregon; and Klamath County, Oregon, burning over 500,000 acres in aggregate. Third-party reports for these wildfires indicate over 2,000 structures destroyed, including residences; several structures damaged; multiple individuals injured; and several fatalities. Investigations into the cause and origin of each wildfire are complex and ongoing and have been or are being conducted by various entities, including the U.S. Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. The James Case On September 30, 2020, a class action complaint against PacifiCorp was filed, captioned Jeanyne James et al. v. PacifiCorp et al., (" James ") in Oregon Circuit Court in Multnomah County, Oregon ("Multnomah County Circuit Court Oregon"). The complaint was filed by Oregon residents and businesses who seek to represent a class of all Oregon citizens and entities whose real or personal property was harmed beginning on September 7, 2020, by wildfires in Oregon allegedly caused by PacifiCorp. In November 2021, the plaintiffs filed an amended complaint to limit the class to include Oregon citizens allegedly impacted by the Santiam Canyon, Echo Mountain Complex, South Obenchain and 242 wildfires. In May 2022, the Multnomah County Circuit Court Oregon granted issue class certification and consolidated the James case with several other cases. While PacifiCorp's pre-trial request for immediate appeal of the class certification was denied, it subsequently filed to appeal the class issues as described below. In April 2023, the jury trial for James with respect to 17 named plaintiffs began in Multnomah County Circuit Court Oregon. In June 2023, the jury issued its verdict finding PacifiCorp liable to the 17 named plaintiffs and to the class with respect to the four wildfires. The jury found PacifiCorp's conduct grossly negligent, reckless and willful as to each plaintiff and the entire class. The jury awarded the 17 named plaintiffs $90 million of damages, including $4 million of economic damages, $68 million of noneconomic damages and $18 million of punitive damages based on a 0.25 multiplier of the economic and noneconomic damages. In September 2023, the Multnomah County Circuit Court Oregon ordered trial dates for three damages phase trials described below wherein plaintiffs in each of the three damages phase trials would present evidence regarding their damages. In January 2024, the Multnomah County Circuit Court Oregon entered a limited judgment and money award for the June 2023 James verdict. The limited judgment awards $92 million of damages based on the amounts awarded by the jury, as well as doubling of the economic damages and offsetting of any insurance proceeds received by plaintiffs. The limited judgment created a lien against PacifiCorp, attaching a debt for the money awards. PacifiCorp posted a supersedeas bond, which stays any effort to seek payment of the judgment pending final resolution of any appeals. Under Oregon Revised Statutes 82.010, interest at a rate of 9% per annum will accrue on the judgment commencing at the date the judgment was entered until the entire money award is paid, amended or reversed by an appellate court. In January 2024, PacifiCorp filed a notice of appeal associated with the June 2023 verdict in James , including whether the case can proceed as a class action and filed a motion to stay further damages phase trials. On February 14, 2024, the Oregon Court of Appeals denied PacifiCorp's request to stay the damages phase trials. On February 13, 2024, the 17 named plaintiffs filed a notice of cross-appeal as to the January 2024 limited judgment and money award. The appeals process and further actions could take several years. In January 2024, the jury for the first James damages phase trial awarded nine plaintiffs $62 million of damages, including $6 million of economic damages and $56 million of noneconomic damages. After the jury verdict, the Multnomah County Circuit Court Oregon doubled the economic damages to $12 million and added $16 million of punitive damages using the 0.25 multiplier determined by the jury for the June 2023 James verdict bringing the total damages awarded to $84 million. PacifiCorp requested that the Multnomah County Circuit Court Oregon judge offset the damage awards by deducting insurance proceeds received by any of the nine plaintiffs, and on March 25, 2024, the Multnomah County Circuit Court Oregon granted in large part the offset request. In April 2024, the Multnomah County Circuit Court Oregon entered a limited judgment and money award for the January 2024 James verdict. The limited judgment awards $80 million of damages based on the amounts awarded by the jury and offsetting insurance proceeds received by plaintiffs. The limited judgment created a lien against PacifiCorp, attaching a debt for the money awards. In April 2024, PacifiCorp posted a supersedeas bond, which stays any effort to seek payment of the judgment pending final resolution of any appeals. PacifiCorp amended its January 2024 appeal of the June 2023 James verdict to include the January 2024 jury verdict. In March 2024, the jury for the second James damages phase trial awarded ten plaintiffs $42 million of damages, including $12 million of doubled economic damages, $23 million of noneconomic damages and $7 million of punitive damages using the 0.25 multiplier determined by the jury for the June 2023 James verdict. PacifiCorp requested that the Multnomah County Circuit Court Oregon judge offset the damage awards by deducting insurance proceeds received by any of the ten plaintiffs and on May 6, 2024, the Multnomah County Circuit Court Oregon granted the offset request. In June 2024, the Multnomah County Circuit Court Oregon entered a limited judgment and money award for the March 2024 James verdict. The limited judgment awards $38 million of damages based on the amounts awarded by the jury and offsetting insurance proceeds received by plaintiffs. The limited judgment created a lien against PacifiCorp, attaching a debt for the money awards. In July 2024, PacifiCorp posted a supersedeas bond, which stays any effort to seek payment of the judgment pending final resolution of any appeals. PacifiCorp further amended its appeal of the June 2023 James verdict to include the March 2024 jury verdict. In March 2024, settlement was reached with five commercial timber plaintiffs in the James consolidated cases, and the jury trial scheduled for April 2024 was cancelled. In April, May and July 2024, four separate mass complaints against PacifiCorp naming 1,443 individual class members were filed in Multnomah County Circuit Court Oregon referencing James as the lead case. These James mass complaints make damages only allegations seeking economic, noneconomic and punitive damages, as well as doubling of economic damages. PacifiCorp believes the magnitude of damages sought by the class members in the James mass complaints to be of remote likelihood of being awarded based on the amounts awarded in the jury verdicts described above that are being appealed. 2022 McKinney Fire According to the California Department of Forestry and Fire Protection, a wildfire began on July 29, 2022, in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California located in PacifiCorp's service territory, burning over 60,000 acres. Third-party reports indicate that the 2022 McKinney Fire resulted in 11 structures damaged; 185 structures destroyed, including residences; 12 injuries; and four fatalities. The cause of the 2022 McKinney Fire is undetermined and remains under investigation by the U.S. Forest Service, the California Public Utilities Commission, PacifiCorp and various experts engaged by PacifiCorp. Estimated Losses for and Settlements Associated with the Wildfires Based on the facts and circumstances available to PacifiCorp as of the date of this filing, including (i) ongoing cause and origin investigations; (ii) ongoing settlement and mediation discussions; (iii) other litigation matters and upcoming legal proceedings; and (iv) the status of the James case, PacifiCorp recorded cumulative estimated probable losses associated with the Wildfires of $2,658 million through June 30, 2024. PacifiCorp's cumulative accrual includes estimates of probable losses for fire suppression costs, real and personal property damages, natural resource damages and noneconomic damages such as personal injury damages and loss of life damages that it is reasonably able to estimate at this time and which is subject to change as additional relevant information becomes available. Through June 30, 2024, PacifiCorp paid $775 million in settlements associated with the 2020 Wildfires and paid an additional $246 million subsequent to June 30, 2024, for the Wildfires. To date, PacifiCorp has reached additional settlements associated with the Wildfires totaling $199 million that have yet to be paid. As a result of the settlements, various trials have been cancelled. The following table presents changes in PacifiCorp's liability for estimated losses associated with the Wildfires (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 1,705 $ 824 $ 1,723 $ 424 Accrued losses 251 141 251 541 Payments (73) (17) (91) (17) Ending balance $ 1,883 $ 948 $ 1,883 $ 948 As of June 30, 2024 and December 31, 2023, $445 million and $4 million of PacifiCorp's liability for estimated losses associated with the Wildfires is classified as a current liability captioned Wildfires liabilities on the Consolidated Balance Sheets. The amounts reflected as current as of June 30, 2024 reflect amounts reasonably expected to be paid out within the next year based on settlements reached as well as ongoing settlement and mediation efforts. The remainder of PacifiCorp's liability for estimated losses associated with the Wildfires as of June 30, 2024 and December 31, 2023 is classified as a noncurrent liability captioned Wildfires liabilities on the Consolidated Balance Sheets. The following table presents changes in PacifiCorp's receivable for expected insurance recoveries associated with the Wildfires (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 149 $ 287 $ 499 $ 246 Accruals — 92 — 133 Payments received (10) — (360) — Ending balance $ 139 $ 379 $ 139 $ 379 As of June 30, 2024, $15 million of PacifiCorp's receivable for expected insurance recoveries was included in Other receivables, net while the remaining $124 million was included in Other assets on the Consolidated Balance Sheets. As of December 31, 2023, $350 million of PacifiCorp's receivable for expected insurance recoveries was included in Other receivables, net while the remaining $149 million was included in Other assets on the Consolidated Balance Sheets. Insurance proceeds received to date relate to the 2020 Wildfires. During the three-month periods ended June 30, 2024 and 2023, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the Wildfires of $251 million and $49 million, respectively. During the six-month periods ended June 30, 2024 and 2023, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the Wildfires of $251 million and $408 million, respectively. No additional insurance recoveries beyond those accrued and received to date are expected to be available. It is reasonably possible PacifiCorp will incur material additional losses beyond the amounts accrued for the Wildfires that could have a material adverse effect on PacifiCorp's financial condition. PacifiCorp is currently unable to reasonably estimate a specific range of possible additional losses that could be incurred due to the number of properties and parties involved, including claimants in the class to the James case, the variation in the types of properties and damages and the ultimate outcome of legal actions. Guarantees PacifiCorp has entered into guarantees as part of the normal course of business and the sale or transfer of certain assets. These guarantees are not expected to have a material impact on PacifiCorp's consolidated financial results. |
MEC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments MidAmerican Energy has the following firm commitments that are not reflected on the Balance Sheets. Construction Commitments During the six-month period ended June 30, 2024, MidAmerican Energy entered into firm construction commitments totaling $150 million for the remainder of 2024 through 2025 related to the construction and repowering of wind-powered generating facilities in Iowa. Environmental Laws and Regulations MidAmerican Energy is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality, coal ash disposal and other environmental matters that have the potential to impact its current and future operations. MidAmerican Energy believes it is in material compliance with all applicable laws and regulations. Legal Matters MidAmerican Energy is party to a variety of legal actions arising out of the normal course of business. MidAmerican Energy does not believe that such normal and routine litigation will have a material impact on its financial results. Transmission Rates MidAmerican Energy's wholesale transmission rates are set annually using formula rates approved by the Federal Energy Regulatory Commission ("FERC") subject to true-up for actual cost of service. In November 2013 and February 2015, a coalition of intervenors filed successive complaints with the FERC requesting that the base return on equity ("ROE") used to determine rates in effect prior to September 2016 no longer be found just and reasonable and sought to reduce the base ROE. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit issued an opinion vacating all orders related to the complaints and remanding them back to the FERC. In July 2024, the FERC stated it plans to issue an order to resolve the remand proceedings before the end of the year. MidAmerican Energy cannot predict the ultimate outcome of these matters or the amount of potential refunds. |
MidAmerican Funding, LLC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies MidAmerican Funding is party to a variety of legal actions arising out of the normal course of business. MidAmerican Funding does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. |
NPC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Construction Commitments During the six-month period ended June 30, 2024, Nevada Power entered into engineering, procurement and construction agreements along with equipment and materials agreements totaling $1.5 billion through 2028 for the Greenlink Nevada transmission expansion program that will be developed in western and northern Nevada. Environmental Laws and Regulations Nevada Power is subject to federal, state and local laws and regulations regarding climate change, renewable portfolio standards, air and water quality, emissions performance standards, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact Nevada Power's current and future operations. Nevada Power believes it is in material compliance with all applicable laws and regulations. Legal Matters Nevada Power is party to a variety of legal actions arising out of the normal course of business. Nevada Power does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. |
SPPC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Construction Commitments During the six-month period ended June 30, 2024, Sierra Pacific entered into engineering, procurement and construction agreements along with equipment and materials agreements totaling $624 million through 2028 for the Greenlink Nevada transmission expansion program that will be developed in western and northern Nevada and agreements totaling $986 million for a 400-MW solar photovoltaic facility with an additional 400-MW of co-located battery storage that will be developed in Churchill County, Nevada. Environmental Laws and Regulations Sierra Pacific is subject to federal, state and local laws and regulations regarding climate change, renewable portfolio standards, air and water quality, emissions performance standards, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact Sierra Pacific's current and future operations. Sierra Pacific believes it is in material compliance with all applicable laws and regulations. Legal Matters Sierra Pacific is party to a variety of legal actions arising out of the normal course of business. Sierra Pacific does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. |
EEGH | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Laws and Regulations Eastern Energy Gas is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality and other environmental matters that have the potential to impact its current and future operations. Eastern Energy Gas believes it is in material compliance with all applicable laws and regulations. Legal Matters Eastern Energy Gas is party to a variety of legal actions arising out of the normal course of business. Eastern Energy Gas does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. |
EGTS | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Laws and Regulations EGTS is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality and other environmental matters that have the potential to impact its current and future operations. EGTS believes it is in material compliance with all applicable laws and regulations. Legal Matters EGTS is party to a variety of legal actions arising out of the normal course of business. EGTS does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2024 | |
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 13 (in millions): For the Three-Month Period Ended June 30, 2024 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,392 $ 579 $ 1,031 $ — $ — $ — $ — $ (1) $ 3,001 Retail gas — 88 34 — — — — — 122 Wholesale 13 25 12 — — — — — 50 Transmission and 42 13 19 354 — 165 — — 593 Interstate pipeline — — — — 555 — — (26) 529 Other 29 — 1 — — — — — 30 Total Regulated 1,476 705 1,097 354 555 165 — (27) 4,325 Nonregulated — — 2 26 274 32 330 — 664 Total Customer Revenue 1,476 705 1,099 380 829 197 330 (27) 4,989 Other revenue 13 25 — 32 8 1 48 (1) 126 Total $ 1,489 $ 730 $ 1,099 $ 412 $ 837 $ 198 $ 378 $ (28) $ 5,115 For the Six-Month Period Ended June 30, 2024 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,839 $ 1,064 $ 1,813 $ — $ — $ — $ — $ (1) $ 5,715 Retail gas — 342 119 — — — — — 461 Wholesale 42 97 30 — — — — (1) 168 Transmission and 83 28 39 620 — 332 — — 1,102 Interstate pipeline — — — — 1,424 — — (71) 1,353 Other 55 — 1 — 1 — — — 57 Total Regulated 3,019 1,531 2,002 620 1,425 332 — (73) 8,856 Nonregulated — 2 3 49 531 63 626 — 1,274 Total Customer Revenue 3,019 1,533 2,005 669 1,956 395 626 (73) 10,130 Other revenue 18 40 2 63 9 1 99 (2) 230 Total $ 3,037 $ 1,573 $ 2,007 $ 732 $ 1,965 $ 396 $ 725 $ (75) $ 10,360 For the Three-Month Period Ended June 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,232 $ 569 $ 1,043 $ — $ — $ — $ — $ — $ 2,844 Retail gas — 90 43 — — — — — 133 Wholesale 26 52 9 — — — — 2 89 Transmission and 34 13 19 244 — 166 — — 476 Interstate pipeline — — — — 542 — — (27) 515 Other 24 — — — (1) — — — 23 Total Regulated 1,316 724 1,114 244 541 166 — (25) 4,080 Nonregulated — 1 — 33 270 30 376 1 711 Total Customer Revenue 1,316 725 1,114 277 811 196 376 (24) 4,791 Other revenue 11 34 5 29 7 (4) 61 (1) 142 Total $ 1,327 $ 759 $ 1,119 $ 306 $ 818 $ 192 $ 437 $ (25) $ 4,933 For the Six-Month Period Ended June 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,581 $ 1,060 $ 1,891 $ — $ — $ — $ — $ — $ 5,532 Retail gas — 386 139 — — — — — 525 Wholesale 87 152 40 — — — — 1 280 Transmission and 72 27 37 525 — 331 — — 992 Interstate pipeline — — — — 1,420 — — (83) 1,337 Other 56 — — — 1 — — — 57 Total Regulated 2,796 1,625 2,107 525 1,421 331 — (82) 8,723 Nonregulated — 4 1 78 536 70 681 1 1,371 Total Customer Revenue 2,796 1,629 2,108 603 1,957 401 681 (81) 10,094 Other revenue 15 50 10 57 34 (4) 149 (1) 310 Total $ 2,811 $ 1,679 $ 2,118 $ 660 $ 1,991 $ 397 $ 830 $ (82) $ 10,404 (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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Brokerage $ 1,190 $ 1,202 $ 1,984 $ 2,001 Franchise 14 15 26 27 Total Customer Revenue 1,204 1,217 2,010 2,028 Mortgage and other revenue 85 79 145 143 Total $ 1,289 $ 1,296 $ 2,155 $ 2,171 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 June 30, 2024, by reportable segment (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total BHE Pipeline Group $ 3,035 $ 19,387 $ 22,422 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Retail: Residential $ 496 $ 450 $ 1,106 $ 1,035 Commercial 489 429 961 859 Industrial 307 270 626 560 Other retail 100 83 146 127 Total retail 1,392 1,232 2,839 2,581 Wholesale 13 26 42 87 Transmission 42 34 83 72 Other Customer Revenue 29 24 55 56 Total Customer Revenue 1,476 1,316 3,019 2,796 Other revenue 13 11 18 15 Total operating revenue $ 1,489 $ 1,327 $ 3,037 $ 2,811 |
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 13 (in millions): For the Three-Month Period Ended June 30, 2024 For the Six-Month Period Ended June 30, 2024 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 179 $ 58 $ — $ 237 $ 339 $ 225 $ — $ 564 Commercial 86 16 — 102 158 80 — 238 Industrial 274 2 — 276 492 8 — 500 Natural gas transportation services — 11 — 11 — 25 — 25 Other retail 40 1 — 41 75 4 — 79 Total retail 579 88 — 667 1,064 342 — 1,406 Wholesale 18 7 — 25 69 28 — 97 Multi-value transmission projects 13 — — 13 28 — — 28 Other Customer Revenue — — — — — — 2 2 Total Customer Revenue 610 95 — 705 1,161 370 2 1,533 Other revenue 25 — — 25 39 1 — 40 Total operating revenue $ 635 $ 95 $ — $ 730 $ 1,200 $ 371 $ 2 $ 1,573 For the Three-Month Period Ended June 30, 2023 For the Six-Month Period Ended June 30, 2023 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 173 $ 58 $ — $ 231 $ 340 $ 257 $ — $ 597 Commercial 86 17 — 103 161 95 — 256 Industrial 272 4 — 276 486 11 — 497 Natural gas transportation services — 10 — 10 — 23 — 23 Other retail 38 1 — 39 73 — — 73 Total retail 569 90 — 659 1,060 386 — 1,446 Wholesale 45 7 — 52 116 36 — 152 Multi-value transmission projects 13 — — 13 27 — — 27 Other Customer Revenue — — 1 1 — — 4 4 Total Customer Revenue 627 97 1 725 1,203 422 4 1,629 Other revenue 34 — — 34 49 1 — 50 Total operating revenue $ 661 $ 97 $ 1 $ 759 $ 1,252 $ 423 $ 4 $ 1,679 |
MidAmerican Funding, LLC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Refer to Note 11 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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Retail: Residential $ 445 $ 404 $ 716 $ 697 Commercial 165 177 298 313 Industrial 169 173 303 311 Other 1 4 2 10 Total fully bundled 780 758 1,319 1,331 Distribution only service 4 4 8 7 Total retail 784 762 1,327 1,338 Wholesale, transmission and other 16 15 33 33 Total Customer Revenue 800 777 1,360 1,371 Other revenue 1 4 2 9 Total operating revenue $ 801 $ 781 $ 1,362 $ 1,380 |
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 13 (in millions): Three-Month Periods Ended June 30, 2024 2023 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 90 $ 21 $ 111 $ 95 $ 25 $ 120 Commercial 90 8 98 102 12 114 Industrial 65 5 70 82 6 88 Other 2 — 2 1 — 1 Total fully bundled 247 34 281 280 43 323 Distribution only service 1 — 1 1 — 1 Total retail 248 34 282 281 43 324 Wholesale, transmission and other 14 — 14 12 — 12 Total Customer Revenue 262 34 296 293 43 336 Other revenue — — — — 1 1 Total operating revenue $ 262 $ 34 $ 296 $ 293 $ 44 $ 337 Six-Month Periods Ended June 30, 2024 2023 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 190 $ 74 $ 264 $ 210 $ 85 $ 295 Commercial 172 32 204 193 39 232 Industrial 120 13 133 145 15 160 Other 3 1 4 3 — 3 Total fully bundled 485 120 605 551 139 690 Distribution only service 2 — 2 2 — 2 Total retail 487 120 607 553 139 692 Wholesale, transmission and other 35 — 35 44 — 44 Total Customer Revenue 522 120 642 597 139 736 Other revenue — — — — 1 1 Total operating revenue $ 522 $ 120 $ 642 $ 597 $ 140 $ 737 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Regulated: Gas transmission and storage $ 280 $ 294 $ 609 $ 626 Other — (1) 1 1 Total regulated 280 293 610 627 Nonregulated 217 226 420 443 Total Customer Revenue 497 519 1,030 1,070 Other revenue (1) — 2 — 4 Total operating revenue $ 497 $ 521 $ 1,030 $ 1,074 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" which includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts and the royalties from the conveyance of mineral rights accounted for under ASC 932 "Extractive Activities – Oil and Gas". Eastern Energy Gas has recognized contract liabilities of $30 million and $40 million as of June 30, 2024 and December 31, 2023, 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 six-month periods ended June 30, 2024 and 2023, Eastern Energy Gas recognized revenue of $13 million and $49 million, respectively, from the beginning contract liability balances. 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 June 30, 2024 (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,713 $ 14,133 $ 15,846 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Regulated: Gas transmission $ 145 $ 151 $ 333 $ 342 Gas storage 71 70 141 137 Other 1 (2) 1 — Total regulated 217 219 475 479 Management service and other revenues 13 15 25 32 Total Customer Revenue 230 234 500 511 Other revenue (1) — 2 — 3 Total operating revenue $ 230 $ 236 $ 500 $ 514 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" which includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts and the royalties from the conveyance of mineral rights accounted for under ASC 932 "Extractive Activities – Oil and Gas". 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 June 30, 2024 (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total EGTS $ 840 $ 3,190 $ 4,030 |
Shareholder's Equity
Shareholder's Equity | 6 Months Ended |
Jun. 30, 2024 | |
MEC | |
Class of Stock [Line Items] | |
Shareholder's Equity | Shareholder's Equity In February 2024, MidAmerican Energy paid $425 million in a cash dividend to its parent company, MHC. |
Member's Equity
Member's Equity | 6 Months Ended |
Jun. 30, 2024 | |
MidAmerican Funding, LLC | |
Class of Stock [Line Items] | |
Member's Equity | Member's Equity In February 2024, MidAmerican Funding paid $425 million in a cash distribution to its parent company, BHE. |
Components of Accumulated Other
Components of Accumulated Other Comprehensive Loss, Net | 6 Months Ended |
Jun. 30, 2024 | |
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 (loss) income, 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, 2022 $ (390) $ (1,896) $ 135 $ 2 $ (2,149) Other comprehensive (loss) income (11) 331 (16) — 304 Balance, June 30, 2023 $ (401) $ (1,565) $ 119 $ 2 $ (1,845) Balance, December 31, 2023 $ (426) $ (1,550) $ 71 $ 1 $ (1,904) Other comprehensive income (loss) 15 (170) 26 — (129) Balance, June 30, 2024 $ (411) $ (1,720) $ 97 $ 1 $ (2,033) |
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, 2022 $ (1) $ (43) $ 2 $ (42) Other comprehensive (loss) income (1) 5 — 4 Balance, June 30, 2023 $ (2) $ (38) $ 2 $ (38) Balance, December 31, 2023 $ (3) $ (38) $ 1 $ (40) Other comprehensive income 1 3 — 4 Balance, June 30, 2024 $ (2) $ (35) $ 1 $ (36) |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2024 | |
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. Information related to the Company's reportable segments is shown below (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue: PacifiCorp $ 1,489 $ 1,327 $ 3,037 $ 2,811 MidAmerican Funding 730 759 1,573 1,679 NV Energy 1,099 1,119 2,007 2,118 Northern Powergrid 412 307 732 661 BHE Pipeline Group 837 818 1,965 1,991 BHE Transmission 198 192 396 397 BHE Renewables 378 437 725 830 HomeServices 1,289 1,296 2,155 2,171 BHE and Other (1) (28) (26) (75) (83) Total operating revenue $ 6,404 $ 6,229 $ 12,515 $ 12,575 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Depreciation and amortization: PacifiCorp $ 287 $ 279 $ 579 $ 558 MidAmerican Funding 228 226 455 460 NV Energy 138 153 277 305 Northern Powergrid 85 85 173 170 BHE Pipeline Group 143 95 282 267 BHE Transmission 58 65 116 126 BHE Renewables 68 67 135 133 HomeServices 12 12 24 25 BHE and Other (1) — — 3 1 Total depreciation and amortization $ 1,019 $ 982 $ 2,044 $ 2,045 Operating income: PacifiCorp $ (114) $ 131 $ 41 $ (36) MidAmerican Funding 85 118 161 206 NV Energy 155 117 216 174 Northern Powergrid 225 121 355 267 BHE Pipeline Group 334 368 998 952 BHE Transmission 84 76 169 164 BHE Renewables 59 89 40 20 HomeServices 49 46 (171) 1 BHE and Other (1) (22) (20) (59) (35) Total operating income 855 1,046 1,750 1,713 Interest expense (675) (599) (1,366) (1,185) Capitalized interest 50 33 96 57 Allowance for equity funds 92 61 175 110 Interest and dividend income 134 127 250 213 Gains on marketable securities, net 329 303 206 1,002 Other, net 25 78 56 118 Total income before income tax expense (benefit) and equity income (loss) $ 810 $ 1,049 $ 1,167 $ 2,028 Interest expense: PacifiCorp $ 185 $ 134 $ 377 $ 258 MidAmerican Funding 110 85 218 169 NV Energy 72 64 145 127 Northern Powergrid 34 30 68 60 BHE Pipeline Group 43 39 83 78 BHE Transmission 38 38 75 75 BHE Renewables 34 43 69 88 HomeServices 2 4 6 8 BHE and Other (1) 157 162 325 322 Total interest expense $ 675 $ 599 $ 1,366 $ 1,185 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Earnings on common shares: PacifiCorp $ (76) $ 107 $ 38 $ (13) MidAmerican Funding 234 233 469 482 NV Energy 109 90 136 124 Northern Powergrid 149 96 235 107 BHE Pipeline Group 234 187 733 556 BHE Transmission 69 58 135 122 BHE Renewables 138 206 239 285 HomeServices 43 34 (116) — BHE and Other (1) 54 55 (262) 384 Total earnings on common shares $ 954 $ 1,066 $ 1,607 $ 2,047 As of June 30, December 31, 2024 2023 Assets: PacifiCorp $ 35,733 $ 33,757 MidAmerican Funding 28,188 27,331 NV Energy 18,195 17,788 Northern Powergrid 9,823 9,596 BHE Pipeline Group 21,749 21,723 BHE Transmission 9,426 9,624 BHE Renewables 10,918 11,045 HomeServices 3,601 3,407 BHE and Other (1) 3,505 3,569 Total assets $ 141,138 $ 137,840 (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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue by country: U.S. $ 5,816 $ 5,749 $ 11,430 $ 11,564 United Kingdom 406 295 719 628 Canada 176 173 353 350 Australia 5 12 10 33 Other 1 — 3 — Total operating revenue by country $ 6,404 $ 6,229 $ 12,515 $ 12,575 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Income before income tax expense (benefit) and equity income (loss) by country: U.S. $ 568 $ 914 $ 779 $ 1,733 United Kingdom 191 93 293 206 Canada 49 44 98 87 Australia 3 (3) (1) 2 Other (1) 1 (2) — Total income before income tax expense (benefit) and equity income (loss) by country $ 810 $ 1,049 $ 1,167 $ 2,028 The following table shows the change in the carrying amount of goodwill by reportable segment for the six-month period ended June 30, 2024 (in millions): BHE Pipeline Group PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Transmission BHE Renewables HomeServices Total December 31, 2023 $ 1,129 $ 2,102 $ 2,369 $ 950 $ 1,814 $ 1,492 $ 95 $ 1,596 $ 11,547 Foreign currency translation — — — (4) — (48) — — (52) Other — — — — — — — (1) (1) June 30, 2024 $ 1,129 $ 2,102 $ 2,369 $ 946 $ 1,814 $ 1,444 $ 95 $ 1,595 $ 11,494 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue: Regulated electric $ 635 $ 661 $ 1,200 $ 1,252 Regulated natural gas 95 97 371 423 Other — 1 2 4 Total operating revenue $ 730 $ 759 $ 1,573 $ 1,679 Operating income: Regulated electric $ 79 $ 120 $ 110 $ 170 Regulated natural gas 6 (2) 51 36 Total operating income 85 118 161 206 Interest expense (105) (81) (209) (161) Allowance for borrowed funds 7 4 13 8 Allowance for equity funds 18 13 34 24 Other, net 19 15 44 31 Total income before income tax expense (benefit) $ 24 $ 69 $ 43 $ 108 As of June 30, December 31, Assets: Regulated electric $ 23,657 $ 23,334 Regulated natural gas 2,435 1,900 Other 1 1 Total assets $ 26,093 $ 25,235 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue: Regulated electric $ 635 $ 661 $ 1,200 $ 1,252 Regulated natural gas 95 97 371 423 Other — 1 2 4 Total operating revenue $ 730 $ 759 $ 1,573 $ 1,679 Operating income: Regulated electric $ 79 $ 120 $ 110 $ 170 Regulated natural gas 6 (2) 51 36 Total operating income 85 118 161 206 Interest expense (110) (85) (218) (169) Allowance for borrowed funds 7 4 13 8 Allowance for equity funds 18 13 34 24 Other, net 20 15 45 43 Total income before income tax expense (benefit) $ 20 $ 65 $ 35 $ 112 As of June 30, December 31, Assets (1) : Regulated electric $ 24,848 $ 24,525 Regulated natural gas 2,514 1,979 Other 6 5 Total assets $ 27,368 $ 26,509 (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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue: Regulated electric $ 262 $ 293 $ 522 $ 597 Regulated natural gas 34 44 120 140 Total operating revenue $ 296 $ 337 $ 642 $ 737 Operating income (loss): Regulated electric $ 22 $ 23 $ 34 $ 48 Regulated natural gas (2) 3 5 13 Total operating income 20 26 39 61 Interest expense (22) (15) (42) (31) Allowance for borrowed funds 2 3 3 5 Allowance for equity funds 6 3 10 5 Interest and dividend income 5 5 9 12 Other, net 2 1 5 2 Total income before income tax expense (benefit) $ 13 $ 23 $ 24 $ 54 As of June 30, December 31, 2024 2023 Assets: Regulated electric $ 4,408 $ 4,251 Regulated natural gas 450 454 Other (1) 93 67 Total assets $ 4,951 $ 4,772 (1) Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments. |
General (Policies)
General (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. The Company is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
PAC | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The Consolidated Statements of Comprehensive Income (Loss) have been omitted as net income (loss) materially equals comprehensive income (loss) for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. PacifiCorp is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. PacifiCorp is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. PacifiCorp is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to 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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the six-month period ended June 30, 2024, 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. |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. MidAmerican Energy is currently evaluating the impact of adopting this guidance on its Financial Statements and disclosures included within Notes to Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. MidAmerican Energy is currently evaluating the impact of adopting this guidance on its Financial Statements and disclosures included within Notes to Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. MidAmerican Energy is currently evaluating the impact of adopting the final rules on its Financial Statements and disclosures included within Notes to 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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the six-month period ended June 30, 2024, 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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. Nevada Power is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. Nevada Power is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. Nevada Power is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to 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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. Sierra Pacific is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. Sierra Pacific is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. Sierra Pacific is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to 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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024 are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. Eastern Energy Gas is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. Eastern Energy Gas is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. Eastern Energy Gas is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to 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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. The results of operations for the three- and six-month periods ended June 30, 2024 are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting Topic 280, "Segment Reporting—Improvements to Reportable Segment Disclosures" which allows disclosure of one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires enhanced disclosures of significant segment expenses and other segment items, as well as incremental qualitative disclosures on both an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods after December 15, 2024. Early adoption is permitted and retrospective application is required for all periods presented. EGTS is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes Topic 740, "Income Tax—Improvements to Income Tax Disclosures" which requires enhanced disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted. EGTS is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In March 2024, the United States Securities and Exchange Commission adopted final rules requiring disclosure of certain climate-related information in registrations statements and Form 10-Ks. The final rules require a registrant to disclose, among other things: material climate-related risks; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management's role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. Further, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas emissions when those emissions are material and disclosure of the financial statement effects of severe weather events and other natural conditions. The final rules include phased-in compliance periods for all registrants, with the compliance date dependent on the registrant's filer status and the content of the disclosure. On April 4, 2024, the United States Securities and Exchange Commission voluntarily stayed implementation of the final rules, pending the completion of judicial review of consolidated challenges by the Court of Appeals for the Eighth Circuit. EGTS is currently evaluating the impact of adopting the final rules on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. |
Cash and Cash Equivalents and_2
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 3,265 $ 1,565 Investments and restricted cash and cash equivalents 270 224 Investments and restricted cash and cash equivalents and investments 17 22 Total cash and cash equivalents and restricted cash and cash equivalents $ 3,552 $ 1,811 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 1,289 $ 138 Restricted cash and cash equivalents included in other current assets 57 51 Restricted cash included in other assets 3 3 Total cash and cash equivalents and restricted cash and cash equivalents $ 1,349 $ 192 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 930 $ 636 Restricted cash and cash equivalents in other current assets 10 6 Total cash and cash equivalents and restricted cash and cash equivalents $ 940 $ 642 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 933 $ 637 Restricted cash and cash equivalents in other current assets 10 6 Total cash and cash equivalents and restricted cash and cash equivalents $ 943 $ 643 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 111 $ 20 Restricted cash and cash equivalents included in other current assets 15 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 126 $ 37 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 70 $ 44 Restricted cash and cash equivalents included in other current assets 7 8 Total cash and cash equivalents and restricted cash and cash equivalents $ 77 $ 52 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 107 $ 62 Restricted cash and cash equivalents included in other current assets 25 31 Total cash and cash equivalents and restricted cash and cash equivalents $ 132 $ 93 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | Property, plant and equipment, net consists of the following (in millions): As of Depreciable June 30, December 31, Life 2024 2023 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 97,682 $ 96,195 Interstate natural gas pipeline assets 3-80 years 19,603 19,226 117,285 115,421 Accumulated depreciation and amortization (37,673) (36,365) Regulated assets, net 79,612 79,056 Nonregulated assets: Independent power plants 2-50 years 8,557 8,484 Cove Point LNG facility 40 years 3,436 3,423 Other assets 2-30 years 2,898 2,874 14,891 14,781 Accumulated depreciation and amortization (4,019) (3,856) Nonregulated assets, net 10,872 10,925 90,484 89,981 Construction work-in-progress 10,528 9,267 Property, plant and equipment, net $ 101,012 $ 99,248 |
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 June 30, December 31, Depreciable Life 2024 2023 Utility plant: Generation 15 - 59 years $ 14,011 $ 13,904 Transmission 60 - 90 years 8,321 8,216 Distribution 20 - 75 years 9,361 9,060 Intangible plant and other 5 - 75 years 2,873 2,833 Utility plant in-service 34,566 34,013 Accumulated depreciation and amortization (12,136) (11,725) Utility plant in-service, net 22,430 22,288 Nonregulated, net of accumulated depreciation and amortization 14 - 95 years 19 18 22,449 22,306 Construction work-in-progress 5,492 4,745 Property, plant and equipment, net $ 27,941 $ 27,051 |
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 June 30, December 31, Depreciable Life 2024 2023 Utility plant: Generation 20-62 years $ 18,104 $ 18,129 Transmission 55-80 years 2,856 2,834 Electric distribution 15-80 years 5,543 5,288 Natural gas distribution 30-75 years 2,327 2,294 Utility plant in-service 28,830 28,545 Accumulated depreciation and amortization (8,208) (7,841) Utility plant in-service, net 20,622 20,704 Nonregulated, net of accumulated depreciation and amortization 20-50 years 6 6 20,628 20,710 Construction work-in-progress 1,584 1,260 Property, plant and equipment, net $ 22,212 $ 21,970 |
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 June 30, December 31, 2024 2023 Utility plant: Generation 30 - 65 years $ 4,855 $ 4,476 Transmission 55 - 76 years 1,650 1,590 Distribution 24 - 70 years 4,595 4,451 Intangible plant and other 5 - 65 years 898 906 Utility plant 11,998 11,423 Accumulated depreciation and amortization (3,983) (3,856) Utility plant, net 8,015 7,567 Nonregulated, net of accumulated depreciation and amortization 40 years 1 1 8,016 7,568 Construction work-in-progress 1,003 1,090 Property, plant and equipment, net $ 9,019 $ 8,658 |
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 June 30, December 31, 2024 2023 Utility plant: Generation 25 - 70 years $ 1,334 $ 1,313 Transmission 50 - 76 years 1,051 1,023 Electric distribution 20 - 76 years 2,133 2,074 Electric intangible plant and other 5 - 65 years 252 247 Natural gas distribution 35 - 70 years 545 537 Natural gas intangible plant and other 5 - 65 years 18 17 Common other 5 - 65 years 374 376 Utility plant 5,707 5,587 Accumulated depreciation and amortization (2,156) (2,091) 3,551 3,496 Construction work-in-progress 489 326 Property, plant and equipment, net $ 4,040 $ 3,822 |
EEGH | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | Property, plant and equipment, net consists of the following (in millions): As of June 30, December 31, Depreciable Life 2024 2023 Utility plant: Interstate natural gas transmission and storage assets 23 - 49 years $ 9,438 $ 9,318 Intangible plant 5 - 18 years 126 117 Utility plant in-service 9,564 9,435 Accumulated depreciation and amortization (3,290) (3,201) Utility plant in-service, net 6,274 6,234 Nonutility plant: LNG facility 40 years 4,546 4,533 Accumulated depreciation and amortization (717) (655) Nonutility plant, net 3,829 3,878 10,103 10,112 Construction work-in-progress 240 231 Property, plant and equipment, net $ 10,343 $ 10,343 |
EGTS | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | Property, plant and equipment, net consists of the following (in millions): As of June 30, December 31, Depreciable Life 2024 2023 Interstate natural gas transmission and storage assets 28 - 50 years $ 7,095 $ 7,046 Intangible plant 12 - 20 years 90 80 Plant in-service 7,185 7,126 Accumulated depreciation and amortization (2,631) (2,563) 4,554 4,563 Construction work-in-progress 188 152 Property, plant and equipment, net $ 4,742 $ 4,715 |
Investments and Restricted Ca_2
Investments and Restricted Cash and Cash Equivalents and Investments (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, December 31, 2024 2023 Investments: BYD Company Limited common stock $ 1,739 $ 2,218 U.S. Treasury Bills 1,588 996 Rabbi trusts 521 487 Other 332 338 Total investments 4,180 4,039 Equity method investments: BHE Renewables tax equity investments 3,761 4,058 Electric Transmission Texas, LLC 718 673 Iroquois Gas Transmission System, L.P. 592 599 Other 391 381 Total equity method investments 5,462 5,711 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 829 767 Other restricted cash and cash equivalents 287 246 Total restricted cash and cash equivalents and investments 1,116 1,013 Total investments and restricted cash and cash equivalents and investments $ 10,758 $ 10,763 Reflected as: Other current assets $ 1,911 $ 1,253 Noncurrent assets 8,847 9,510 Total investments and restricted cash and cash equivalents and investments $ 10,758 $ 10,763 |
Unrealized Gain (Loss) on Investments | Gains on marketable securities, net recognized during the period consists of the following (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Unrealized gains recognized on marketable securities held at the reporting date $ 236 $ 268 $ 150 $ 725 Net gains recognized on marketable securities sold during the period 93 35 56 277 Gains on marketable securities, net $ 329 $ 303 $ 206 $ 1,002 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 3,265 $ 1,565 Investments and restricted cash and cash equivalents 270 224 Investments and restricted cash and cash equivalents and investments 17 22 Total cash and cash equivalents and restricted cash and cash equivalents $ 3,552 $ 1,811 |
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 June 30, December 31, 2024 2023 Investments: Investment funds $ 17 $ 19 Equity method investments: Iroquois 255 262 Total investments 272 281 Restricted cash and cash equivalents: Customer deposits 25 31 Total restricted cash and cash equivalents 25 31 Total investments and restricted cash and cash equivalents $ 297 $ 312 Reflected as: Other current assets $ 25 $ 31 Noncurrent assets 272 281 Total investments and restricted cash and cash equivalents $ 297 $ 312 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 107 $ 62 Restricted cash and cash equivalents included in other current assets 25 31 Total cash and cash equivalents and restricted cash and cash equivalents $ 132 $ 93 |
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 June 30, December 31, 2024 2023 Investments: Investment funds $ 17 $ 19 Restricted cash and cash equivalents: Customer deposits 22 29 Total restricted cash and cash equivalents 22 29 Total investments and restricted cash and cash equivalents $ 39 $ 48 Reflected as: Current assets $ 22 $ 29 Other assets 17 19 Total investments and restricted cash and cash equivalents $ 39 $ 48 |
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 June 30, December 31, 2024 2023 Cash and cash equivalents $ 34 $ 5 Restricted cash and cash equivalents 22 29 Total cash and cash equivalents and restricted cash and cash equivalents $ 56 $ 34 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (50) (34) (67) (35) State income tax, net of federal income tax impacts (2) — (1) (2) Income tax effect of foreign income (1) (3) (2) 2 Effects of ratemaking (3) (3) (4) (3) Equity earnings (3) (2) (3) (1) Noncontrolling interest (1) (3) (1) (3) Other 1 — (1) — Effective income tax rate (38) % (24) % (58) % (21) % |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax impacts 3 2 1 4 Income tax credits 22 (34) 137 36 Effects of ratemaking (1) 9 (26) 63 22 Valuation allowance — — — 7 Other — (2) 2 1 Effective income tax rate 55 % (39) % 224 % 91 % (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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (892) (251) (1,009) (347) State income tax, net of federal income tax impacts (13) (6) (14) (10) Effects of ratemaking — (4) (2) (6) Other, net (4) (2) (1) (1) Effective income tax rate (888) % (242) % (1,005) % (343) % |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (1,070) (266) (1,240) (335) State income tax, net of federal income tax impacts (20) (8) (17) (10) Effects of ratemaking — (5) (3) (5) Other, net (1) — (1) (1) Effective income tax rate (1,070) % (258) % (1,240) % (330) % |
NPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (5) (11) (4) (10) Income tax credits (4) — (5) — Other 1 — 1 (1) Effective income tax rate 13 % 10 % 13 % 10 % |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (12) (9) (13) (9) Other (1) 1 — 1 Effective income tax rate 8 % 13 % 8 % 13 % |
EEGH | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax impacts 1 2 3 2 Equity earnings 1 1 2 1 Noncontrolling interest (4) (11) (3) (10) Other, net — (1) — — Effective income tax rate 19 % 12 % 23 % 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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax impacts 4 5 4 5 Allowance for funds used during construction-equity — (1) — — Other, net — — 1 (1) Effective income tax rate 25 % 25 % 26 % 25 % |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Pension: Service cost $ 5 $ 5 $ 8 $ 9 Interest cost 27 27 53 55 Expected return on plan assets (33) (31) (64) (62) Settlement — — — (5) Net amortization 2 3 4 7 Net periodic benefit cost $ 1 $ 4 $ 1 $ 4 Other postretirement: Service cost $ 1 $ 2 $ 2 $ 3 Interest cost 8 7 15 14 Expected return on plan assets (9) (10) (17) (18) Net amortization — — (1) (1) Net periodic benefit credit $ — $ (1) $ (1) $ (2) Net periodic benefit cost for the United Kingdom pension plan included the following components (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Service cost $ 2 $ 1 $ 3 $ 3 Interest cost 13 14 27 28 Expected return on plan assets (19) (21) (39) (40) Net amortization 7 7 14 13 Net periodic benefit cost $ 3 $ 1 $ 5 $ 4 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Pension: Interest cost $ 9 $ 9 $ 18 $ 19 Expected return on plan assets (12) (12) (24) (24) Net amortization 3 3 5 6 Net periodic benefit (credit) cost $ — $ — $ (1) $ 1 Other postretirement: Service cost $ — $ 1 $ — $ 1 Interest cost 3 2 6 5 Expected return on plan assets (3) (4) (6) (7) Net amortization (1) — (2) (1) Net periodic benefit credit $ (1) $ (1) $ (2) $ (2) |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Pension: Service cost $ 3 $ 3 $ 5 $ 6 Interest cost 8 8 16 16 Expected return on plan assets (8) (8) (16) (16) Settlement — — — (5) Net amortization (1) — (1) — Net periodic benefit cost $ 2 $ 3 $ 4 $ 1 Other postretirement: Service cost $ 1 $ 1 $ 2 $ 2 Interest cost 3 3 6 6 Expected return on plan assets (4) (4) (8) (8) Net amortization 1 — 1 — Net periodic benefit cost $ 1 $ — $ 1 $ — |
NPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Amounts Recognized in Balance Sheet | Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following (in millions): As of June 30, December 31, 2024 2023 Qualified Pension Plan - Other non-current assets $ 38 $ 38 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (6) (6) Other Postretirement Plans - Other non-current assets 10 10 |
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 June 30, December 31, 2024 2023 Qualified Pension Plan - Other non-current assets $ 55 $ 53 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (5) (5) Other Postretirement Plans - Other non-current assets — 1 |
Risk Management and Hedging A_2
Risk Management and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, December 31, Measure 2024 2023 Electricity purchases Megawatt hours 1 — Natural gas purchases Decatherms 56 55 |
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 June 30, 2024 Not designated as hedging contracts (1) : Commodity assets $ 5 $ 5 $ 14 $ 3 $ 27 Commodity liabilities — (2) (148) (16) (166) Total 5 3 (134) (13) (139) Total derivatives 5 3 (134) (13) (139) Cash collateral receivable — — 48 — 48 Total derivatives - net basis $ 5 $ 3 $ (86) $ (13) $ (91) As of December 31, 2023 Not designated as hedging contracts (1) : Commodity assets $ 21 $ 2 $ 7 $ 2 $ 32 Commodity liabilities (3) — (83) (22) (108) Total 18 2 (76) (20) (76) Total derivatives 18 2 (76) (20) (76) Cash collateral receivable (2) — 12 — 10 Total derivatives - net basis $ 16 $ 2 $ (64) $ (20) $ (66) (1) PacifiCorp's commodity derivatives are generally included in rates. As of June 30, 2024, a regulatory asset of $139 million was recorded related to the net derivative liability of $139 million. As of December 31, 2023, a regulatory asset of $76 million was recorded related to the net derivative liability of $76 million. |
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 assets (liabilities) and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets (liabilities), as well as amounts reclassified to earnings (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 113 $ (109) $ 76 $ (270) Changes in fair value recognized in regulatory assets 73 102 164 92 Net gains (losses) reclassified to operating revenue 2 (2) 3 (8) Net (losses) gains reclassified to energy costs (49) — (104) 177 Ending balance $ 139 $ (9) $ 139 $ (9) |
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 June 30, December 31, Measure 2024 2023 Electricity purchases, net Megawatt hours 2 2 Natural gas purchases Decatherms 154 153 |
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 June 30, 2024 Not designated as hedging contracts (1) - Commodity liabilities $ — $ (85) $ (16) $ (101) As of December 31, 2023 Not designated as hedging contracts (1) - Commodity liabilities $ — $ (62) $ (6) $ (68) (1) Nevada Power's commodity derivatives not designated as hedging contracts are included in regulated rates. As of June 30, 2024 a regulatory asset of $101 million was recorded related to the net derivative liability of $101 million. As of December 31, 2023 a regulatory asset of $68 million was recorded related to the net derivative liability of $68 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 June 30, December 31, Measure 2024 2023 Electricity purchases Megawatt hours 2 1 Natural gas purchases Decatherms 131 132 |
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 Long-term Assets Liabilities Liabilities Total As of June 30, 2024 Not designated as hedging contracts (1) - Commodity assets $ 1 $ — $ — $ 1 Commodity liabilities — (24) (4) (28) Total derivative - net basis $ 1 $ (24) $ (4) $ (27) As of December 31, 2023 Not designated as hedging contracts (1) - Commodity liabilities $ — $ (16) $ — $ (16) (1) Sierra Pacific's commodity derivatives not designated as hedging contracts are included in regulated rates. As of June 30, 2024 a net regulatory asset of $27 million was recorded related to the net derivative liability of $27 million. As of December 31, 2023 a net regulatory asset of $16 million was recorded related to the net derivative liability of $16 million. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, 2024: Assets: Commodity derivatives $ — $ 126 $ 7 $ (41) $ 92 Interest rate derivatives 39 46 12 — 97 Mortgage loans held for sale — 705 — — 705 Money market mutual funds 3,037 — — — 3,037 Debt securities: U.S. government obligations 1,844 — — — 1,844 Corporate obligations — 95 — — 95 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 460 — — — 460 International companies 1,748 — — — 1,748 Investment funds 305 — — — 305 $ 7,433 $ 975 $ 19 $ (41) $ 8,386 Liabilities: Commodity derivatives $ (2) $ (202) $ (140) $ 96 $ (248) Foreign currency exchange rate derivatives — (13) — — (13) Interest rate derivatives — (3) (1) 2 (2) $ (2) $ (218) $ (141) $ 98 $ (263) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2023: Assets: Commodity derivatives $ 1 $ 121 $ 4 $ (31) $ 95 Interest rate derivatives 38 40 7 — 85 Mortgage loans held for sale — 451 — — 451 Money market mutual funds 1,310 — — — 1,310 Debt securities: U.S. government obligations 1,253 — — — 1,253 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Equity securities: U.S. companies 427 — — — 427 International companies 2,226 — — — 2,226 Investment funds 268 — — — 268 $ 5,523 $ 685 $ 11 $ (31) $ 6,188 Liabilities: Commodity derivatives $ (7) $ (134) $ (95) $ 54 $ (182) Foreign currency exchange rate derivatives — (8) — — (8) Interest rate derivatives — (7) — 4 (3) $ (7) $ (149) $ (95) $ 58 $ (193) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $57 million and $27 million as of June 30, 2024 and December 31, 2023, 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 Six-Month Periods Ended June 30, Ended June 30, Interest Interest Commodity Rate Commodity Rate Derivatives Derivatives Derivatives Derivatives 2024: Beginning balance $ (135) $ 11 $ (91) $ 7 Changes included in earnings (1) (2) — (5) 4 Changes in fair value recognized in net regulatory assets (24) — (80) — Settlements 28 — 43 — Ending balance $ (133) $ 11 $ (133) $ 11 2023: Beginning balance $ (150) $ 15 $ (59) $ 6 Changes included in earnings (1) 1 (4) 10 5 Changes in fair value recognized in OCI — — (3) — Changes in fair value recognized in net regulatory assets (85) — (183) — Settlements 60 — 61 — Ending balance $ (174) $ 11 $ (174) $ 11 (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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 56,470 $ 50,998 $ 52,172 $ 48,624 |
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 June 30, 2024: Assets: Commodity derivatives $ — $ 27 $ — $ (19) $ 8 Money market mutual funds 1,333 — — — 1,333 Investment funds 28 — — — 28 $ 1,361 $ 27 $ — $ (19) $ 1,369 Liabilities - Commodity derivatives $ — $ (166) $ — $ 67 $ (99) As of December 31, 2023: Assets: Commodity derivatives $ — $ 32 $ — $ (14) $ 18 Money market mutual funds 175 — — — 175 Investment funds 26 — — — 26 $ 201 $ 32 $ — $ (14) $ 219 Liabilities - Commodity derivatives $ — $ (108) $ — $ 24 $ (84) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $48 million and $10 million as of June 30, 2024 and December 31, 2023, respectively. |
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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 13,750 $ 12,608 $ 10,410 $ 9,722 |
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 June 30, 2024: Assets: Commodity derivatives $ — $ 7 $ 2 $ (4) $ 5 Money market mutual funds 927 — — — 927 Debt securities: U.S. government obligations 256 — — — 256 Corporate obligations — 95 — — 95 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 460 — — — 460 International companies 9 — — — 9 Investment funds 22 — — — 22 $ 1,674 $ 105 $ 2 $ (4) $ 1,777 Liabilities - commodity derivatives $ — $ (18) $ (4) $ 6 $ (16) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2023: Assets: Commodity derivatives $ — $ 15 $ — $ (2) $ 13 Money market mutual funds 643 — — — 643 Debt securities: U.S. government obligations 257 — — — 257 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Equity securities: U.S. companies 427 — — — 427 International companies 9 — — — 9 Investment funds 19 — — — 19 $ 1,355 $ 88 $ — $ (2) $ 1,441 Liabilities - commodity derivatives $ — $ (15) $ (11) $ 14 $ (12) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $2 million and $12 million as of June 30, 2024 and December 31, 2023, 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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ (6) $ (5) $ (11) $ 5 Changes in fair value recognized in net regulatory assets (2) (14) (6) (27) Settlements 6 5 15 8 Ending balance $ (2) $ (14) $ (2) $ (14) |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of MidAmerican Energy's long-term debt (in millions): As of June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Long-term debt $ 9,359 $ 8,431 $ 8,766 $ 8,252 |
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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Long-term debt $ 9,599 $ 8,686 $ 9,006 $ 8,515 |
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 June 30, 2024: Assets: Money market mutual funds $ 90 $ — $ — $ 90 Investment funds 8 — — 8 $ 98 $ — $ — $ 98 Liabilities - commodity derivatives $ — $ — $ (101) $ (101) As of December 31, 2023: Assets: Money market mutual funds $ 10 $ — $ — $ 10 Investment funds 4 — — 4 $ 14 $ — $ — $ 14 Liabilities - commodity derivatives $ — $ — $ (68) $ (68) |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ (101) $ (116) $ (68) $ (52) Changes in fair value recognized in regulatory assets (17) (54) (58) (119) Settlements 17 44 25 45 Ending balance $ (101) $ (126) $ (101) $ (126) |
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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,393 $ 3,284 $ 3,392 $ 3,417 |
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 June 30, 2024: Assets: Commodity derivatives $ — $ — $ 1 $ 1 Money market mutual funds 64 — — 64 Investment funds 2 — — 2 $ 66 $ — $ 1 $ 67 Liabilities - commodity derivatives $ — $ — $ (28) $ (28) As of December 31, 2023: Assets: Money market mutual funds $ 41 $ — $ — $ 41 Investment funds 1 — — 1 $ 42 $ — $ — $ 42 Liabilities - commodity derivatives $ — $ — $ (16) $ (16) |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ (26) $ (33) $ (16) $ (13) Changes in fair value recognized in regulatory assets (5) (17) (16) (37) Settlements 4 14 5 14 Ending balance $ (27) $ (36) $ (27) $ (36) |
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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,526 $ 1,486 $ 1,293 $ 1,311 |
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 June 30, 2024: Assets: Money market mutual funds $ 107 $ — $ — $ 107 Equity securities: Investment funds 17 — — 17 $ 124 $ — $ — $ 124 Liabilities: Foreign currency exchange rate derivatives $ — $ (13) $ — $ (13) $ — $ (13) $ — $ (13) As of December 31, 2023: Assets: Money market mutual funds $ 62 $ — $ — $ 62 Equity securities: Investment funds 19 — — 19 $ 81 $ — $ — $ 81 Liabilities: Foreign currency exchange rate derivatives $ — $ (8) $ — $ (8) $ — $ (8) $ — $ (8) |
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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,247 $ 2,947 $ 3,254 $ 2,968 |
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 June 30, 2024: Assets: Money market mutual funds $ 34 $ — $ — $ 34 Equity securities: Investment funds 17 — — 17 $ 51 $ — $ — $ 51 As of December 31, 2023: Assets: Money market mutual funds $ 5 $ — $ — $ 5 Equity securities: Investment funds 19 — — 19 $ 24 $ — $ — $ 24 |
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 June 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Long-term debt $ 1,584 $ 1,360 $ 1,583 $ 1,386 |
Commitment and Contingencies (T
Commitment and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Loss Contingencies [Line Items] | |
Schedule of Loss Contingencies by Contingency | The following table presents changes in PacifiCorp's liability for estimated losses associated with the Wildfires (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 1,705 $ 824 $ 1,723 $ 424 Accrued losses 251 141 251 541 Payments (73) (17) (91) (17) Ending balance $ 1,883 $ 948 $ 1,883 $ 948 The following table presents changes in PacifiCorp's receivable for expected insurance recoveries associated with the Wildfires (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 149 $ 287 $ 499 $ 246 Accruals — 92 — 133 Payments received (10) — (360) — Ending balance $ 139 $ 379 $ 139 $ 379 |
PAC | |
Loss Contingencies [Line Items] | |
Schedule of Loss Contingencies by Contingency | The following table presents changes in PacifiCorp's liability for estimated losses associated with the Wildfires (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 1,705 $ 824 $ 1,723 $ 424 Accrued losses 251 141 251 541 Payments (73) (17) (91) (17) Ending balance $ 1,883 $ 948 $ 1,883 $ 948 The following table presents changes in PacifiCorp's receivable for expected insurance recoveries associated with the Wildfires (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Beginning balance $ 149 $ 287 $ 499 $ 246 Accruals — 92 — 133 Payments received (10) — (360) — Ending balance $ 139 $ 379 $ 139 $ 379 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 13 (in millions): For the Three-Month Period Ended June 30, 2024 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,392 $ 579 $ 1,031 $ — $ — $ — $ — $ (1) $ 3,001 Retail gas — 88 34 — — — — — 122 Wholesale 13 25 12 — — — — — 50 Transmission and 42 13 19 354 — 165 — — 593 Interstate pipeline — — — — 555 — — (26) 529 Other 29 — 1 — — — — — 30 Total Regulated 1,476 705 1,097 354 555 165 — (27) 4,325 Nonregulated — — 2 26 274 32 330 — 664 Total Customer Revenue 1,476 705 1,099 380 829 197 330 (27) 4,989 Other revenue 13 25 — 32 8 1 48 (1) 126 Total $ 1,489 $ 730 $ 1,099 $ 412 $ 837 $ 198 $ 378 $ (28) $ 5,115 For the Six-Month Period Ended June 30, 2024 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,839 $ 1,064 $ 1,813 $ — $ — $ — $ — $ (1) $ 5,715 Retail gas — 342 119 — — — — — 461 Wholesale 42 97 30 — — — — (1) 168 Transmission and 83 28 39 620 — 332 — — 1,102 Interstate pipeline — — — — 1,424 — — (71) 1,353 Other 55 — 1 — 1 — — — 57 Total Regulated 3,019 1,531 2,002 620 1,425 332 — (73) 8,856 Nonregulated — 2 3 49 531 63 626 — 1,274 Total Customer Revenue 3,019 1,533 2,005 669 1,956 395 626 (73) 10,130 Other revenue 18 40 2 63 9 1 99 (2) 230 Total $ 3,037 $ 1,573 $ 2,007 $ 732 $ 1,965 $ 396 $ 725 $ (75) $ 10,360 For the Three-Month Period Ended June 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,232 $ 569 $ 1,043 $ — $ — $ — $ — $ — $ 2,844 Retail gas — 90 43 — — — — — 133 Wholesale 26 52 9 — — — — 2 89 Transmission and 34 13 19 244 — 166 — — 476 Interstate pipeline — — — — 542 — — (27) 515 Other 24 — — — (1) — — — 23 Total Regulated 1,316 724 1,114 244 541 166 — (25) 4,080 Nonregulated — 1 — 33 270 30 376 1 711 Total Customer Revenue 1,316 725 1,114 277 811 196 376 (24) 4,791 Other revenue 11 34 5 29 7 (4) 61 (1) 142 Total $ 1,327 $ 759 $ 1,119 $ 306 $ 818 $ 192 $ 437 $ (25) $ 4,933 For the Six-Month Period Ended June 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,581 $ 1,060 $ 1,891 $ — $ — $ — $ — $ — $ 5,532 Retail gas — 386 139 — — — — — 525 Wholesale 87 152 40 — — — — 1 280 Transmission and 72 27 37 525 — 331 — — 992 Interstate pipeline — — — — 1,420 — — (83) 1,337 Other 56 — — — 1 — — — 57 Total Regulated 2,796 1,625 2,107 525 1,421 331 — (82) 8,723 Nonregulated — 4 1 78 536 70 681 1 1,371 Total Customer Revenue 2,796 1,629 2,108 603 1,957 401 681 (81) 10,094 Other revenue 15 50 10 57 34 (4) 149 (1) 310 Total $ 2,811 $ 1,679 $ 2,118 $ 660 $ 1,991 $ 397 $ 830 $ (82) $ 10,404 (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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Brokerage $ 1,190 $ 1,202 $ 1,984 $ 2,001 Franchise 14 15 26 27 Total Customer Revenue 1,204 1,217 2,010 2,028 Mortgage and other revenue 85 79 145 143 Total $ 1,289 $ 1,296 $ 2,155 $ 2,171 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue by country: U.S. $ 5,816 $ 5,749 $ 11,430 $ 11,564 United Kingdom 406 295 719 628 Canada 176 173 353 350 Australia 5 12 10 33 Other 1 — 3 — Total operating revenue by country $ 6,404 $ 6,229 $ 12,515 $ 12,575 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Income before income tax expense (benefit) and equity income (loss) by country: U.S. $ 568 $ 914 $ 779 $ 1,733 United Kingdom 191 93 293 206 Canada 49 44 98 87 Australia 3 (3) (1) 2 Other (1) 1 (2) — Total income before income tax expense (benefit) and equity income (loss) by country $ 810 $ 1,049 $ 1,167 $ 2,028 |
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 June 30, 2024, by reportable segment (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total BHE Pipeline Group $ 3,035 $ 19,387 $ 22,422 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Retail: Residential $ 496 $ 450 $ 1,106 $ 1,035 Commercial 489 429 961 859 Industrial 307 270 626 560 Other retail 100 83 146 127 Total retail 1,392 1,232 2,839 2,581 Wholesale 13 26 42 87 Transmission 42 34 83 72 Other Customer Revenue 29 24 55 56 Total Customer Revenue 1,476 1,316 3,019 2,796 Other revenue 13 11 18 15 Total operating revenue $ 1,489 $ 1,327 $ 3,037 $ 2,811 |
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 13 (in millions): For the Three-Month Period Ended June 30, 2024 For the Six-Month Period Ended June 30, 2024 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 179 $ 58 $ — $ 237 $ 339 $ 225 $ — $ 564 Commercial 86 16 — 102 158 80 — 238 Industrial 274 2 — 276 492 8 — 500 Natural gas transportation services — 11 — 11 — 25 — 25 Other retail 40 1 — 41 75 4 — 79 Total retail 579 88 — 667 1,064 342 — 1,406 Wholesale 18 7 — 25 69 28 — 97 Multi-value transmission projects 13 — — 13 28 — — 28 Other Customer Revenue — — — — — — 2 2 Total Customer Revenue 610 95 — 705 1,161 370 2 1,533 Other revenue 25 — — 25 39 1 — 40 Total operating revenue $ 635 $ 95 $ — $ 730 $ 1,200 $ 371 $ 2 $ 1,573 For the Three-Month Period Ended June 30, 2023 For the Six-Month Period Ended June 30, 2023 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 173 $ 58 $ — $ 231 $ 340 $ 257 $ — $ 597 Commercial 86 17 — 103 161 95 — 256 Industrial 272 4 — 276 486 11 — 497 Natural gas transportation services — 10 — 10 — 23 — 23 Other retail 38 1 — 39 73 — — 73 Total retail 569 90 — 659 1,060 386 — 1,446 Wholesale 45 7 — 52 116 36 — 152 Multi-value transmission projects 13 — — 13 27 — — 27 Other Customer Revenue — — 1 1 — — 4 4 Total Customer Revenue 627 97 1 725 1,203 422 4 1,629 Other revenue 34 — — 34 49 1 — 50 Total operating revenue $ 661 $ 97 $ 1 $ 759 $ 1,252 $ 423 $ 4 $ 1,679 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Retail: Residential $ 445 $ 404 $ 716 $ 697 Commercial 165 177 298 313 Industrial 169 173 303 311 Other 1 4 2 10 Total fully bundled 780 758 1,319 1,331 Distribution only service 4 4 8 7 Total retail 784 762 1,327 1,338 Wholesale, transmission and other 16 15 33 33 Total Customer Revenue 800 777 1,360 1,371 Other revenue 1 4 2 9 Total operating revenue $ 801 $ 781 $ 1,362 $ 1,380 |
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 13 (in millions): Three-Month Periods Ended June 30, 2024 2023 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 90 $ 21 $ 111 $ 95 $ 25 $ 120 Commercial 90 8 98 102 12 114 Industrial 65 5 70 82 6 88 Other 2 — 2 1 — 1 Total fully bundled 247 34 281 280 43 323 Distribution only service 1 — 1 1 — 1 Total retail 248 34 282 281 43 324 Wholesale, transmission and other 14 — 14 12 — 12 Total Customer Revenue 262 34 296 293 43 336 Other revenue — — — — 1 1 Total operating revenue $ 262 $ 34 $ 296 $ 293 $ 44 $ 337 Six-Month Periods Ended June 30, 2024 2023 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 190 $ 74 $ 264 $ 210 $ 85 $ 295 Commercial 172 32 204 193 39 232 Industrial 120 13 133 145 15 160 Other 3 1 4 3 — 3 Total fully bundled 485 120 605 551 139 690 Distribution only service 2 — 2 2 — 2 Total retail 487 120 607 553 139 692 Wholesale, transmission and other 35 — 35 44 — 44 Total Customer Revenue 522 120 642 597 139 736 Other revenue — — — — 1 1 Total operating revenue $ 522 $ 120 $ 642 $ 597 $ 140 $ 737 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Regulated: Gas transmission and storage $ 280 $ 294 $ 609 $ 626 Other — (1) 1 1 Total regulated 280 293 610 627 Nonregulated 217 226 420 443 Total Customer Revenue 497 519 1,030 1,070 Other revenue (1) — 2 — 4 Total operating revenue $ 497 $ 521 $ 1,030 $ 1,074 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" which includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts and the royalties from the conveyance of mineral rights accounted for under ASC 932 "Extractive Activities – Oil and Gas". |
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 June 30, 2024 (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,713 $ 14,133 $ 15,846 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Regulated: Gas transmission $ 145 $ 151 $ 333 $ 342 Gas storage 71 70 141 137 Other 1 (2) 1 — Total regulated 217 219 475 479 Management service and other revenues 13 15 25 32 Total Customer Revenue 230 234 500 511 Other revenue (1) — 2 — 3 Total operating revenue $ 230 $ 236 $ 500 $ 514 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" which includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts and the royalties from the conveyance of mineral rights accounted for under ASC 932 "Extractive Activities – Oil and Gas". |
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 June 30, 2024 (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total EGTS $ 840 $ 3,190 $ 4,030 |
Components of Accumulated Oth_2
Components of Accumulated Other Comprehensive Loss, Net (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 (loss) income, 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, 2022 $ (390) $ (1,896) $ 135 $ 2 $ (2,149) Other comprehensive (loss) income (11) 331 (16) — 304 Balance, June 30, 2023 $ (401) $ (1,565) $ 119 $ 2 $ (1,845) Balance, December 31, 2023 $ (426) $ (1,550) $ 71 $ 1 $ (1,904) Other comprehensive income (loss) 15 (170) 26 — (129) Balance, June 30, 2024 $ (411) $ (1,720) $ 97 $ 1 $ (2,033) |
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, 2022 $ (1) $ (43) $ 2 $ (42) Other comprehensive (loss) income (1) 5 — 4 Balance, June 30, 2023 $ (2) $ (38) $ 2 $ (38) Balance, December 31, 2023 $ (3) $ (38) $ 1 $ (40) Other comprehensive income 1 3 — 4 Balance, June 30, 2024 $ (2) $ (35) $ 1 $ (36) |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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. Information related to the Company's reportable segments is shown below (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue: PacifiCorp $ 1,489 $ 1,327 $ 3,037 $ 2,811 MidAmerican Funding 730 759 1,573 1,679 NV Energy 1,099 1,119 2,007 2,118 Northern Powergrid 412 307 732 661 BHE Pipeline Group 837 818 1,965 1,991 BHE Transmission 198 192 396 397 BHE Renewables 378 437 725 830 HomeServices 1,289 1,296 2,155 2,171 BHE and Other (1) (28) (26) (75) (83) Total operating revenue $ 6,404 $ 6,229 $ 12,515 $ 12,575 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Depreciation and amortization: PacifiCorp $ 287 $ 279 $ 579 $ 558 MidAmerican Funding 228 226 455 460 NV Energy 138 153 277 305 Northern Powergrid 85 85 173 170 BHE Pipeline Group 143 95 282 267 BHE Transmission 58 65 116 126 BHE Renewables 68 67 135 133 HomeServices 12 12 24 25 BHE and Other (1) — — 3 1 Total depreciation and amortization $ 1,019 $ 982 $ 2,044 $ 2,045 Operating income: PacifiCorp $ (114) $ 131 $ 41 $ (36) MidAmerican Funding 85 118 161 206 NV Energy 155 117 216 174 Northern Powergrid 225 121 355 267 BHE Pipeline Group 334 368 998 952 BHE Transmission 84 76 169 164 BHE Renewables 59 89 40 20 HomeServices 49 46 (171) 1 BHE and Other (1) (22) (20) (59) (35) Total operating income 855 1,046 1,750 1,713 Interest expense (675) (599) (1,366) (1,185) Capitalized interest 50 33 96 57 Allowance for equity funds 92 61 175 110 Interest and dividend income 134 127 250 213 Gains on marketable securities, net 329 303 206 1,002 Other, net 25 78 56 118 Total income before income tax expense (benefit) and equity income (loss) $ 810 $ 1,049 $ 1,167 $ 2,028 Interest expense: PacifiCorp $ 185 $ 134 $ 377 $ 258 MidAmerican Funding 110 85 218 169 NV Energy 72 64 145 127 Northern Powergrid 34 30 68 60 BHE Pipeline Group 43 39 83 78 BHE Transmission 38 38 75 75 BHE Renewables 34 43 69 88 HomeServices 2 4 6 8 BHE and Other (1) 157 162 325 322 Total interest expense $ 675 $ 599 $ 1,366 $ 1,185 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Earnings on common shares: PacifiCorp $ (76) $ 107 $ 38 $ (13) MidAmerican Funding 234 233 469 482 NV Energy 109 90 136 124 Northern Powergrid 149 96 235 107 BHE Pipeline Group 234 187 733 556 BHE Transmission 69 58 135 122 BHE Renewables 138 206 239 285 HomeServices 43 34 (116) — BHE and Other (1) 54 55 (262) 384 Total earnings on common shares $ 954 $ 1,066 $ 1,607 $ 2,047 As of June 30, December 31, 2024 2023 Assets: PacifiCorp $ 35,733 $ 33,757 MidAmerican Funding 28,188 27,331 NV Energy 18,195 17,788 Northern Powergrid 9,823 9,596 BHE Pipeline Group 21,749 21,723 BHE Transmission 9,426 9,624 BHE Renewables 10,918 11,045 HomeServices 3,601 3,407 BHE and Other (1) 3,505 3,569 Total assets $ 141,138 $ 137,840 (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 13 (in millions): For the Three-Month Period Ended June 30, 2024 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,392 $ 579 $ 1,031 $ — $ — $ — $ — $ (1) $ 3,001 Retail gas — 88 34 — — — — — 122 Wholesale 13 25 12 — — — — — 50 Transmission and 42 13 19 354 — 165 — — 593 Interstate pipeline — — — — 555 — — (26) 529 Other 29 — 1 — — — — — 30 Total Regulated 1,476 705 1,097 354 555 165 — (27) 4,325 Nonregulated — — 2 26 274 32 330 — 664 Total Customer Revenue 1,476 705 1,099 380 829 197 330 (27) 4,989 Other revenue 13 25 — 32 8 1 48 (1) 126 Total $ 1,489 $ 730 $ 1,099 $ 412 $ 837 $ 198 $ 378 $ (28) $ 5,115 For the Six-Month Period Ended June 30, 2024 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,839 $ 1,064 $ 1,813 $ — $ — $ — $ — $ (1) $ 5,715 Retail gas — 342 119 — — — — — 461 Wholesale 42 97 30 — — — — (1) 168 Transmission and 83 28 39 620 — 332 — — 1,102 Interstate pipeline — — — — 1,424 — — (71) 1,353 Other 55 — 1 — 1 — — — 57 Total Regulated 3,019 1,531 2,002 620 1,425 332 — (73) 8,856 Nonregulated — 2 3 49 531 63 626 — 1,274 Total Customer Revenue 3,019 1,533 2,005 669 1,956 395 626 (73) 10,130 Other revenue 18 40 2 63 9 1 99 (2) 230 Total $ 3,037 $ 1,573 $ 2,007 $ 732 $ 1,965 $ 396 $ 725 $ (75) $ 10,360 For the Three-Month Period Ended June 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,232 $ 569 $ 1,043 $ — $ — $ — $ — $ — $ 2,844 Retail gas — 90 43 — — — — — 133 Wholesale 26 52 9 — — — — 2 89 Transmission and 34 13 19 244 — 166 — — 476 Interstate pipeline — — — — 542 — — (27) 515 Other 24 — — — (1) — — — 23 Total Regulated 1,316 724 1,114 244 541 166 — (25) 4,080 Nonregulated — 1 — 33 270 30 376 1 711 Total Customer Revenue 1,316 725 1,114 277 811 196 376 (24) 4,791 Other revenue 11 34 5 29 7 (4) 61 (1) 142 Total $ 1,327 $ 759 $ 1,119 $ 306 $ 818 $ 192 $ 437 $ (25) $ 4,933 For the Six-Month Period Ended June 30, 2023 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,581 $ 1,060 $ 1,891 $ — $ — $ — $ — $ — $ 5,532 Retail gas — 386 139 — — — — — 525 Wholesale 87 152 40 — — — — 1 280 Transmission and 72 27 37 525 — 331 — — 992 Interstate pipeline — — — — 1,420 — — (83) 1,337 Other 56 — — — 1 — — — 57 Total Regulated 2,796 1,625 2,107 525 1,421 331 — (82) 8,723 Nonregulated — 4 1 78 536 70 681 1 1,371 Total Customer Revenue 2,796 1,629 2,108 603 1,957 401 681 (81) 10,094 Other revenue 15 50 10 57 34 (4) 149 (1) 310 Total $ 2,811 $ 1,679 $ 2,118 $ 660 $ 1,991 $ 397 $ 830 $ (82) $ 10,404 (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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Customer Revenue: Brokerage $ 1,190 $ 1,202 $ 1,984 $ 2,001 Franchise 14 15 26 27 Total Customer Revenue 1,204 1,217 2,010 2,028 Mortgage and other revenue 85 79 145 143 Total $ 1,289 $ 1,296 $ 2,155 $ 2,171 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue by country: U.S. $ 5,816 $ 5,749 $ 11,430 $ 11,564 United Kingdom 406 295 719 628 Canada 176 173 353 350 Australia 5 12 10 33 Other 1 — 3 — Total operating revenue by country $ 6,404 $ 6,229 $ 12,515 $ 12,575 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Income before income tax expense (benefit) and equity income (loss) by country: U.S. $ 568 $ 914 $ 779 $ 1,733 United Kingdom 191 93 293 206 Canada 49 44 98 87 Australia 3 (3) (1) 2 Other (1) 1 (2) — Total income before income tax expense (benefit) and equity income (loss) by country $ 810 $ 1,049 $ 1,167 $ 2,028 |
Schedule of Goodwill | The following table shows the change in the carrying amount of goodwill by reportable segment for the six-month period ended June 30, 2024 (in millions): BHE Pipeline Group PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Transmission BHE Renewables HomeServices Total December 31, 2023 $ 1,129 $ 2,102 $ 2,369 $ 950 $ 1,814 $ 1,492 $ 95 $ 1,596 $ 11,547 Foreign currency translation — — — (4) — (48) — — (52) Other — — — — — — — (1) (1) June 30, 2024 $ 1,129 $ 2,102 $ 2,369 $ 946 $ 1,814 $ 1,444 $ 95 $ 1,595 $ 11,494 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue: Regulated electric $ 635 $ 661 $ 1,200 $ 1,252 Regulated natural gas 95 97 371 423 Other — 1 2 4 Total operating revenue $ 730 $ 759 $ 1,573 $ 1,679 Operating income: Regulated electric $ 79 $ 120 $ 110 $ 170 Regulated natural gas 6 (2) 51 36 Total operating income 85 118 161 206 Interest expense (105) (81) (209) (161) Allowance for borrowed funds 7 4 13 8 Allowance for equity funds 18 13 34 24 Other, net 19 15 44 31 Total income before income tax expense (benefit) $ 24 $ 69 $ 43 $ 108 As of June 30, December 31, Assets: Regulated electric $ 23,657 $ 23,334 Regulated natural gas 2,435 1,900 Other 1 1 Total assets $ 26,093 $ 25,235 |
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 13 (in millions): For the Three-Month Period Ended June 30, 2024 For the Six-Month Period Ended June 30, 2024 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 179 $ 58 $ — $ 237 $ 339 $ 225 $ — $ 564 Commercial 86 16 — 102 158 80 — 238 Industrial 274 2 — 276 492 8 — 500 Natural gas transportation services — 11 — 11 — 25 — 25 Other retail 40 1 — 41 75 4 — 79 Total retail 579 88 — 667 1,064 342 — 1,406 Wholesale 18 7 — 25 69 28 — 97 Multi-value transmission projects 13 — — 13 28 — — 28 Other Customer Revenue — — — — — — 2 2 Total Customer Revenue 610 95 — 705 1,161 370 2 1,533 Other revenue 25 — — 25 39 1 — 40 Total operating revenue $ 635 $ 95 $ — $ 730 $ 1,200 $ 371 $ 2 $ 1,573 For the Three-Month Period Ended June 30, 2023 For the Six-Month Period Ended June 30, 2023 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 173 $ 58 $ — $ 231 $ 340 $ 257 $ — $ 597 Commercial 86 17 — 103 161 95 — 256 Industrial 272 4 — 276 486 11 — 497 Natural gas transportation services — 10 — 10 — 23 — 23 Other retail 38 1 — 39 73 — — 73 Total retail 569 90 — 659 1,060 386 — 1,446 Wholesale 45 7 — 52 116 36 — 152 Multi-value transmission projects 13 — — 13 27 — — 27 Other Customer Revenue — — 1 1 — — 4 4 Total Customer Revenue 627 97 1 725 1,203 422 4 1,629 Other revenue 34 — — 34 49 1 — 50 Total operating revenue $ 661 $ 97 $ 1 $ 759 $ 1,252 $ 423 $ 4 $ 1,679 |
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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue: Regulated electric $ 635 $ 661 $ 1,200 $ 1,252 Regulated natural gas 95 97 371 423 Other — 1 2 4 Total operating revenue $ 730 $ 759 $ 1,573 $ 1,679 Operating income: Regulated electric $ 79 $ 120 $ 110 $ 170 Regulated natural gas 6 (2) 51 36 Total operating income 85 118 161 206 Interest expense (110) (85) (218) (169) Allowance for borrowed funds 7 4 13 8 Allowance for equity funds 18 13 34 24 Other, net 20 15 45 43 Total income before income tax expense (benefit) $ 20 $ 65 $ 35 $ 112 As of June 30, December 31, Assets (1) : Regulated electric $ 24,848 $ 24,525 Regulated natural gas 2,514 1,979 Other 6 5 Total assets $ 27,368 $ 26,509 (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 Six-Month Periods Ended June 30, Ended June 30, 2024 2023 2024 2023 Operating revenue: Regulated electric $ 262 $ 293 $ 522 $ 597 Regulated natural gas 34 44 120 140 Total operating revenue $ 296 $ 337 $ 642 $ 737 Operating income (loss): Regulated electric $ 22 $ 23 $ 34 $ 48 Regulated natural gas (2) 3 5 13 Total operating income 20 26 39 61 Interest expense (22) (15) (42) (31) Allowance for borrowed funds 2 3 3 5 Allowance for equity funds 6 3 10 5 Interest and dividend income 5 5 9 12 Other, net 2 1 5 2 Total income before income tax expense (benefit) $ 13 $ 23 $ 24 $ 54 As of June 30, December 31, 2024 2023 Assets: Regulated electric $ 4,408 $ 4,251 Regulated natural gas 450 454 Other (1) 93 67 Total assets $ 4,951 $ 4,772 (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 13 (in millions): Three-Month Periods Ended June 30, 2024 2023 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 90 $ 21 $ 111 $ 95 $ 25 $ 120 Commercial 90 8 98 102 12 114 Industrial 65 5 70 82 6 88 Other 2 — 2 1 — 1 Total fully bundled 247 34 281 280 43 323 Distribution only service 1 — 1 1 — 1 Total retail 248 34 282 281 43 324 Wholesale, transmission and other 14 — 14 12 — 12 Total Customer Revenue 262 34 296 293 43 336 Other revenue — — — — 1 1 Total operating revenue $ 262 $ 34 $ 296 $ 293 $ 44 $ 337 Six-Month Periods Ended June 30, 2024 2023 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 190 $ 74 $ 264 $ 210 $ 85 $ 295 Commercial 172 32 204 193 39 232 Industrial 120 13 133 145 15 160 Other 3 1 4 3 — 3 Total fully bundled 485 120 605 551 139 690 Distribution only service 2 — 2 2 — 2 Total retail 487 120 607 553 139 692 Wholesale, transmission and other 35 — 35 44 — 44 Total Customer Revenue 522 120 642 597 139 736 Other revenue — — — — 1 1 Total operating revenue $ 522 $ 120 $ 642 $ 597 $ 140 $ 737 |
General - BHE (Details)
General - BHE (Details) | 6 Months Ended |
Jun. 30, 2024 state company operatingSegment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of reportable segments | operatingSegment | 8 |
Number of owned and operated utility companies in the United States | 4 |
Number of states owned and operated utility companies serve customers | state | 11 |
Number of owned and operated electricity distribution companies in Great Britain | 2 |
Number of owned and operated interstate natural gas pipeline companies in the United States | 5 |
Number of owned and operated residential real estate brokerage franchise networks in the United States | 1 |
General - EEGH (Details)
General - EEGH (Details) - EEGH | 6 Months Ended |
Jun. 30, 2024 mi | |
Iroquois Gas Transmission System, L.P. | |
Variable Interest Entity [Line Items] | |
Variable interest entity, ownership percentage | 50% |
Primary Beneficiary | Limited partner | Cove Point LNG, LP | |
Variable Interest Entity [Line Items] | |
Variable interest entity, ownership percentage | 75% |
Primary Beneficiary | General partner | Cove Point LNG, LP | |
Variable Interest Entity [Line Items] | |
Variable interest entity, ownership percentage | 100% |
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 | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 3,265 | $ 1,565 | ||
Restricted cash and cash equivalents | 270 | 224 | ||
Investments and restricted cash and cash equivalents and investments | 17 | 22 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 3,552 | 1,811 | $ 2,440 | $ 1,817 |
PAC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 1,289 | 138 | ||
Restricted cash and cash equivalents | 57 | 51 | ||
Investments and restricted cash and cash equivalents and investments | 3 | 3 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 1,349 | $ 192 | $ 629 | $ 674 |
Cash and Cash Equivalents and_4
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - MEC (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 3,265 | $ 1,565 | ||
Restricted cash and cash equivalents | 270 | 224 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 3,552 | 1,811 | $ 2,440 | $ 1,817 |
MEC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 930 | 636 | ||
Restricted cash and cash equivalents | 10 | 6 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 940 | $ 642 | $ 460 | $ 268 |
Cash and Cash Equivalents and_5
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - LLC (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 3,265 | $ 1,565 | ||
Restricted cash and cash equivalents | 270 | 224 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 3,552 | 1,811 | $ 2,440 | $ 1,817 |
MidAmerican Funding, LLC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 933 | 637 | ||
Restricted cash and cash equivalents | 10 | 6 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 943 | $ 643 | $ 460 | $ 271 |
Cash and Cash Equivalents and_6
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - NPC (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 3,265 | $ 1,565 | ||
Restricted cash and cash equivalents | 270 | 224 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 3,552 | 1,811 | $ 2,440 | $ 1,817 |
NPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 111 | 20 | ||
Restricted cash and cash equivalents | 15 | 17 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 126 | $ 37 | $ 62 | $ 60 |
Cash and Cash Equivalents and_7
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - SPPC (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 3,265 | $ 1,565 | ||
Restricted cash and cash equivalents | 270 | 224 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 3,552 | 1,811 | $ 2,440 | $ 1,817 |
SPPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 70 | 44 | ||
Restricted cash and cash equivalents | 7 | 8 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 77 | $ 52 | $ 44 | $ 56 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net - BHE (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Property, Plant and Equipment [Line Items] | ||
Net operating assets | $ 90,484 | $ 89,981 |
Construction work-in-progress | 10,528 | 9,267 |
Property, plant and equipment, net | 101,012 | 99,248 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 117,285 | 115,421 |
Accumulated depreciation and amortization | (37,673) | (36,365) |
Net operating assets | 79,612 | 79,056 |
Construction work-in-progress | 9,900 | 8,600 |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 14,891 | 14,781 |
Accumulated depreciation and amortization | (4,019) | (3,856) |
Net operating assets | 10,872 | 10,925 |
Utility generation, transmission and distribution systems | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 97,682 | 96,195 |
Utility generation, transmission and distribution systems | Minimum | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 5 years | |
Utility generation, transmission and distribution systems | Maximum | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 80 years | |
Interstate natural gas pipeline assets | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 19,603 | 19,226 |
Interstate natural gas pipeline assets | Minimum | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 3 years | |
Interstate natural gas pipeline assets | Maximum | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 80 years | |
Independent power plants | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 8,557 | 8,484 |
Independent power plants | Minimum | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 2 years | |
Independent power plants | Maximum | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 50 years | |
LNG facility | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 40 years | |
Property, plant and equipment | $ 3,436 | 3,423 |
Other assets | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 2,898 | $ 2,874 |
Other assets | Minimum | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 2 years | |
Other assets | Maximum | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 30 years |
Property, Plant and Equipment_4
Property, Plant and Equipment, Net - PAC (Details) - PAC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Dec. 31, 2023 | |
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 22,449 | $ 22,306 |
Construction work-in-progress | 5,492 | 4,745 |
Property, plant and equipment, net | 27,941 | 27,051 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Generation | 14,011 | 13,904 |
Transmission | 8,321 | 8,216 |
Distribution | 9,361 | 9,060 |
Intangible plant and other | 2,873 | 2,833 |
Utility plant in-service | 34,566 | 34,013 |
Accumulated depreciation and amortization | (12,136) | (11,725) |
Plant, net | $ 22,430 | 22,288 |
Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 15 years | |
Useful life, transmission | 60 years | |
Useful life, distribution | 20 years | |
Useful life, other | 5 years | |
Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 59 years | |
Useful life, transmission | 90 years | |
Useful life, distribution | 75 years | |
Useful life, other | 75 years | |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 19 | $ 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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 20,628 | $ 20,710 | |
Construction work-in-progress | 1,584 | 1,260 | |
Property, plant and equipment, net | 22,212 | 21,970 | |
Anticipated equity returns exceeding threshold | |||
Property, Plant and Equipment [Line Items] | |||
Regulatory liability, additions | 0 | $ 20 | |
Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Generation | 18,104 | 18,129 | |
Transmission | 2,856 | 2,834 | |
Utility plant in-service | 28,830 | 28,545 | |
Accumulated depreciation and amortization | (8,208) | (7,841) | |
Plant, net | $ 20,622 | 20,704 | |
Regulated | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 20 years | ||
Useful life, transmission | 55 years | ||
Regulated | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 62 years | ||
Useful life, transmission | 80 years | ||
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 | ||
Electricity | Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Distribution | $ 5,543 | 5,288 | |
Electricity | Regulated | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 15 years | ||
Electricity | Regulated | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 80 years | ||
Natural gas | Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Distribution | $ 2,327 | $ 2,294 | |
Natural gas | Regulated | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 30 years | ||
Natural gas | 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 | 6 Months Ended | ||
Jan. 01, 2024 | Jun. 30, 2024 | Dec. 31, 2023 | |
Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 8,016 | $ 7,568 | |
Construction work-in-progress | 1,003 | 1,090 | |
Property, plant and equipment, net | 9,019 | 8,658 | |
Depreciation and amortization expense, annual decrease | $ 31 | ||
Regulated | |||
Property, Plant and Equipment [Line Items] | |||
Generation | 4,855 | 4,476 | |
Distribution | 1,650 | 1,590 | |
Transmission | 4,595 | 4,451 | |
Intangible plant and other | 898 | 906 | |
Utility plant in-service | 11,998 | 11,423 | |
Accumulated depreciation and amortization | (3,983) | (3,856) | |
Plant, net | $ 8,015 | 7,567 | |
Regulated | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 30 years | ||
Useful life, distribution | 55 years | ||
Useful life, transmission | 24 years | ||
Useful life, other | 5 years | ||
Regulated | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 65 years | ||
Useful life, distribution | 76 years | ||
Useful life, transmission | 70 years | ||
Useful life, other | 65 years | ||
Nonregulated | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, other | 40 years | ||
Plant, net | $ 1 | $ 1 |
Property, Plant and Equipment_7
Property, Plant and Equipment, Net - SPPC (Details) - SPPC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Dec. 31, 2023 | |
Property, Plant and Equipment [Line Items] | ||
Construction work-in-progress | $ 489 | $ 326 |
Property, plant and equipment, net | 4,040 | 3,822 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Generation | 1,334 | 1,313 |
Transmission | 1,051 | 1,023 |
Common other | 374 | 376 |
Utility plant in-service | 5,707 | 5,587 |
Accumulated depreciation and amortization | (2,156) | (2,091) |
Plant, net | $ 3,551 | 3,496 |
Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 25 years | |
Useful life, transmission | 50 years | |
Useful life, common general | 5 years | |
Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 70 years | |
Useful life, transmission | 76 years | |
Useful life, common general | 65 years | |
Regulated | Generation | ||
Property, Plant and Equipment [Line Items] | ||
Distribution | $ 2,133 | 2,074 |
Intangible plant and other | $ 252 | 247 |
Regulated | Generation | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, distribution | 20 years | |
Useful life, other | 5 years | |
Regulated | Generation | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, distribution | 76 years | |
Useful life, other | 65 years | |
Regulated | Natural gas | ||
Property, Plant and Equipment [Line Items] | ||
Distribution | $ 545 | 537 |
Intangible plant and other | $ 18 | $ 17 |
Regulated | Natural gas | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, distribution | 35 years | |
Useful life, other | 5 years | |
Regulated | Natural gas | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, distribution | 70 years | |
Useful life, other | 65 years |
Property, Plant and Equipment_8
Property, Plant and Equipment, Net - EEGH (Details) $ in Millions | 1 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 USD ($) a | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) a | Dec. 31, 2023 USD ($) | |
EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Plant, net | $ 10,103 | $ 10,112 | ||
Construction work-in-progress | 240 | 231 | ||
Property, plant and equipment, net | 10,343 | 10,343 | ||
Proceeds from assignment of shale development rights | 0 | $ 8 | ||
EGTS | ||||
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | 7,185 | 7,126 | ||
Accumulated depreciation and amortization | (2,631) | (2,563) | ||
Plant, net | 4,554 | 4,563 | ||
Construction work-in-progress | 188 | 152 | ||
Property, plant and equipment, net | 4,742 | 4,715 | ||
Oil and gas, developed acreage | a | 6,500 | 6,500 | ||
Proceeds from assignment of shale development rights | $ 8 | 0 | $ 8 | |
Shale development rights, gain | 8 | |||
Shale development rights, gain after-tax | $ 6 | |||
Regulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | 9,564 | 9,435 | ||
Accumulated depreciation and amortization | (3,290) | (3,201) | ||
Plant, net | 6,274 | 6,234 | ||
Construction work-in-progress | 233 | 223 | ||
Nonregulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Accumulated depreciation and amortization | (717) | (655) | ||
Plant, net | 3,829 | 3,878 | ||
Interstate natural gas transmission and storage assets | EGTS | ||||
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | $ 7,095 | 7,046 | ||
Interstate natural gas transmission and storage assets | EGTS | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 28 years | |||
Interstate natural gas transmission and storage assets | EGTS | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 50 years | |||
Interstate natural gas transmission and storage assets | Regulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | $ 9,438 | 9,318 | ||
Interstate natural gas transmission and storage assets | Regulated | EEGH | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 23 years | |||
Interstate natural gas transmission and storage assets | Regulated | EEGH | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 49 years | |||
Intangible plant | EGTS | ||||
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | $ 90 | 80 | ||
Intangible plant | EGTS | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 12 years | |||
Intangible plant | EGTS | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 20 years | |||
Intangible plant | Regulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | $ 126 | 117 | ||
Intangible plant | Regulated | EEGH | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 5 years | |||
Intangible plant | Regulated | EEGH | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 18 years | |||
LNG facility | Nonregulated | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 40 years | |||
LNG facility | Nonregulated | EEGH | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciable life | 40 years | |||
Utility plant in-service | $ 4,546 | $ 4,533 |
Property, Plant and Equipment_9
Property, Plant and Equipment, Net - EGTS (Details) - EGTS $ in Millions | 1 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 USD ($) a | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) a | Dec. 31, 2023 USD ($) | |
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | $ 7,185 | $ 7,126 | ||
Accumulated depreciation and amortization | (2,631) | (2,563) | ||
Plant, net | 4,554 | 4,563 | ||
Construction work-in-progress | 188 | 152 | ||
Property, plant and equipment, net | 4,742 | 4,715 | ||
Oil and gas, developed acreage | a | 6,500 | 6,500 | ||
Proceeds from assignment of shale development rights | $ 8 | 0 | $ 8 | |
Shale development rights, gain | 8 | |||
Shale development rights, gain after-tax | $ 6 | |||
Interstate natural gas transmission and storage assets | ||||
Property, Plant and Equipment [Line Items] | ||||
Utility plant in-service | $ 7,095 | 7,046 | ||
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 | $ 90 | $ 80 | ||
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 |
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 | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Investments: | |||||
Total investments | $ 4,180 | $ 4,180 | $ 4,039 | ||
Equity method investments | 5,462 | 5,462 | 5,711 | ||
Restricted cash and cash equivalents and investments | 1,116 | 1,116 | 1,013 | ||
Total investments and restricted cash and cash equivalents and investments | 10,758 | 10,758 | 10,763 | ||
Reflected as: | |||||
Other current assets | 1,911 | 1,911 | 1,253 | ||
Noncurrent assets | 8,847 | 8,847 | 9,510 | ||
Unrealized gains recognized on marketable securities held at the reporting date | 236 | $ 268 | 150 | $ 725 | |
Net gains recognized on marketable securities sold during the period | 93 | 35 | 56 | 277 | |
Gains on marketable securities, net | 329 | $ 303 | 206 | $ 1,002 | |
Quad Cities Station nuclear decommissioning trust funds | |||||
Investments: | |||||
Restricted cash and cash equivalents and investments | 829 | 829 | 767 | ||
Other restricted cash and cash equivalents | |||||
Investments: | |||||
Restricted cash and cash equivalents and investments | 287 | 287 | 246 | ||
BHE Renewables tax equity investments | |||||
Investments: | |||||
Equity method investments | 3,761 | 3,761 | 4,058 | ||
Electric Transmission Texas, LLC | |||||
Investments: | |||||
Equity method investments | 718 | 718 | 673 | ||
Iroquois Gas Transmission System, L.P. | |||||
Investments: | |||||
Equity method investments | 592 | 592 | 599 | ||
Other | |||||
Investments: | |||||
Equity method investments | 391 | 391 | 381 | ||
BYD Company Limited common stock | |||||
Investments: | |||||
Total investments | 1,739 | 1,739 | 2,218 | ||
U.S. Treasury Bills | |||||
Investments: | |||||
Total investments | 1,588 | 1,588 | 996 | ||
Rabbi trusts | |||||
Investments: | |||||
Total investments | 521 | 521 | 487 | ||
Other | |||||
Investments: | |||||
Total investments | $ 332 | $ 332 | $ 338 |
Investments and Restricted Ca_4
Investments and Restricted Cash and Cash Equivalents and Investments - BHE - Reconciliation of Cash (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Investments and Restricted Cash and Investments [Abstract] | ||||
Cash and cash equivalents | $ 3,265 | $ 1,565 | ||
Restricted cash and cash equivalents | 270 | 224 | ||
Investments and restricted cash and cash equivalents and investments | 17 | 22 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 3,552 | $ 1,811 | $ 2,440 | $ 1,817 |
Investments and Restricted Ca_5
Investments and Restricted Cash and Cash Equivalents and Investments - EEGH - Components (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Investments: | ||
Equity method investments | $ 5,462 | $ 5,711 |
Total investments and restricted cash and cash equivalents and investments | 10,758 | 10,763 |
Reflected as: | ||
Other current assets | 1,911 | 1,253 |
Noncurrent assets | 8,847 | 9,510 |
EEGH | ||
Investments: | ||
Investments | 17 | 19 |
Total investments | 272 | 281 |
Restricted cash and cash equivalents | 25 | 31 |
Total investments and restricted cash and cash equivalents and investments | 297 | 312 |
Reflected as: | ||
Other current assets | 25 | 31 |
Noncurrent assets | 272 | 281 |
EEGH | Customer deposits | ||
Investments: | ||
Restricted cash and cash equivalents | 25 | 31 |
Iroquois Gas Transmission System, L.P. | ||
Investments: | ||
Equity method investments | 592 | 599 |
Iroquois Gas Transmission System, L.P. | EEGH | ||
Investments: | ||
Equity method investments | $ 255 | $ 262 |
Investments and Restricted Ca_6
Investments and Restricted Cash and Cash Equivalents and Investments - EEGH - Narrative (Details) - EEGH - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Investments And Restricted Cash And Investments [Line Items] | |||
Investment exceeded share of equity in net assets | $ 130 | $ 130 | |
Distributions received from investments | $ 57 | $ 40 | |
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 | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 3,265 | $ 1,565 | ||
Restricted cash and cash equivalents | 270 | 224 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 3,552 | 1,811 | $ 2,440 | $ 1,817 |
EEGH | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 107 | 62 | ||
Restricted cash and cash equivalents | 25 | 31 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 132 | $ 93 | $ 112 | $ 95 |
Investments and Restricted Ca_8
Investments and Restricted Cash and Cash Equivalents and Investments - EGTS - Components (Details) - EGTS - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Investments And Restricted Cash And Investments [Line Items] | ||
Investments | $ 17 | $ 19 |
Restricted cash and cash equivalents | 22 | 29 |
Total investments and restricted cash and cash equivalents | 39 | 48 |
Reflected as: | ||
Current assets | 22 | 29 |
Other assets | 17 | 19 |
Customer deposits | ||
Investments And Restricted Cash And Investments [Line Items] | ||
Restricted cash and cash equivalents | $ 22 | $ 29 |
Investments and Restricted Ca_9
Investments and Restricted Cash and Cash Equivalents and Investments - EGTS - Reconciliation of Cash (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 3,265 | $ 1,565 | ||
Investments and restricted cash and cash equivalents | 1,911 | 1,253 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 3,552 | 1,811 | $ 2,440 | $ 1,817 |
EGTS | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 34 | 5 | ||
Investments and restricted cash and cash equivalents | 22 | 29 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 56 | $ 34 | $ 50 | $ 45 |
Recent Financing Transactions -
Recent Financing Transactions - BHE (Details) $ in Millions, $ in Millions | 1 Months Ended | |||||
Jun. 30, 2024 USD ($) | Jan. 31, 2024 USD ($) | May 31, 2024 CAD ($) | Mar. 31, 2024 CAD ($) | Mar. 31, 2024 USD ($) | Feb. 29, 2024 USD ($) | |
Washoe County Series 2016F, due 2036 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Stated interest rate | 4.125% | |||||
Washoe County Series 2016B, due 2036 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Stated interest rate | 3.625% | |||||
Washoe County Series 2016C, due 2036 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Stated interest rate | 4.125% | |||||
Washoe County Series 2016G, due 2036 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Stated interest rate | 3.625% | |||||
Unsecured credit facility, BHE, expiring June 2027 | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 3,500 | |||||
Unsecured credit facility, PacifiCorp, expiring June 2027 | PAC | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | 2,000 | |||||
364-day unsecured credit facility, PacifiCorp, expiring June 2025 | PAC | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 900 | |||||
Debt term | 364 days | |||||
Unsecured credit facility, MidAmerican Energy, expiring June 2027 | MEC | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 1,500 | |||||
Secured credit facility, Nevada Power, expiring June 2027 | NPC | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | 600 | |||||
Secured credit facility, Sierra Pacific, expiring June 2027 | SPPC | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | 400 | |||||
Unsecured credit facility, C$300 million, expiring December 2026 | AltaLink Investments, L.P. | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 300 | |||||
Unsecured credit facility, $700 million, HomeServices, expiring September 2026 | HomeServices | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 700 | |||||
Secured credit facility, $200 million, HomeServices, expiring September 2026 | HomeServices | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 200 | |||||
Subsidiary Debt | PAC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 3,800 | |||||
Subsidiary Debt | Senior Secured Notes, Series 2024-1, 4.742%, due 2054 | AltaLink, L.P. | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 325 | |||||
Stated interest rate | 4.742% | |||||
Subsidiary Debt | Series 2016-1 Notes, 2.747%, due 2026 | AltaLink, L.P. | ||||||
Debt Instrument [Line Items] | ||||||
Repurchased amount | $ 350 | |||||
Subsidiary Debt | Washoe County Series 2016F, due 2036 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 75 | |||||
Subsidiary Debt | Washoe County Series 2016B, due 2036 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | 60 | |||||
Subsidiary Debt | Humboldt County Series 2016B, due 2029 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 30 | |||||
Stated interest rate | 3.55% | |||||
Subsidiary Debt | Washoe County Series 2016C, due 2036 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 30 | |||||
Subsidiary Debt | Humboldt County Series 2016A due 2029 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 20 | |||||
Stated interest rate | 3.55% | |||||
Subsidiary Debt | Washoe County Series 2016G, due 2036 | SPPC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 20 | |||||
Subsidiary Debt | First Mortgage Bonds, 5.10%, due 2029 | PAC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 500 | |||||
Stated interest rate | 5.10% | |||||
Subsidiary Debt | First Mortgage Bonds, 5.30%, due 2031 | PAC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 700 | |||||
Stated interest rate | 5.30% | |||||
Subsidiary Debt | First Mortgage Bonds, 5.45%, due 2034 | PAC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 1,100 | |||||
Stated interest rate | 5.45% | |||||
Subsidiary Debt | First Mortgage Bonds, 5.80%, due 2055 | PAC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 1,500 | |||||
Stated interest rate | 5.80% | |||||
Subsidiary Debt | First Mortgage Bonds, 5.30%, due 2055 | MEC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 600 | |||||
Stated interest rate | 5.30% | |||||
Proceeds allocation period | 24 months | |||||
Subsidiary Debt | Senior Bonds, 5.625%, due 2054 | Northern Natural Gas | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 500 | |||||
Stated interest rate | 5.625% | |||||
Subsidiary Debt | Unsecured delayed draw term loan facility, expiring June 2025 | PAC | ||||||
Debt Instrument [Line Items] | ||||||
Face amount | $ 900 |
Recent Financing Transactions_2
Recent Financing Transactions - PAC (Details) - PAC - USD ($) $ in Millions | 1 Months Ended | |
Jun. 30, 2024 | Jan. 31, 2024 | |
Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 3,800 | |
First Mortgage Bonds, 5.10%, due 2029 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 500 | |
Stated interest rate | 5.10% | |
First Mortgage Bonds, 5.30%, due 2031 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 700 | |
Stated interest rate | 5.30% | |
First Mortgage Bonds, 5.45%, due 2034 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 1,100 | |
Stated interest rate | 5.45% | |
First Mortgage Bonds, 5.80%, due 2055 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 1,500 | |
Stated interest rate | 5.80% | |
Unsecured credit facility, PacifiCorp, expiring June 2027 | Line of Credit | ||
Debt Instrument [Line Items] | ||
Maximum borrowing capacity | $ 2,000 | |
Unsecured delayed draw term loan facility, expiring June 2025 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | 900 | |
364-day unsecured credit facility, PacifiCorp, expiring June 2025 | Line of Credit | ||
Debt Instrument [Line Items] | ||
Face amount | $ 900 | |
Debt term | 364 days |
Recent Financing Transactions_3
Recent Financing Transactions - MEC (Details) - MEC - USD ($) $ in Millions | 1 Months Ended | |
Jan. 31, 2024 | Jun. 30, 2024 | |
First Mortgage Bonds, 5.30%, due 2055 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 600 | |
Stated interest rate | 5.30% | |
Proceeds allocation period | 24 months | |
Unsecured credit facility, MidAmerican Energy, expiring June 2027 | Line of Credit | ||
Debt Instrument [Line Items] | ||
Maximum borrowing capacity | $ 1,500 |
Recent Financing Transactions_4
Recent Financing Transactions - NPC (Details) $ in Millions | Jun. 30, 2024 USD ($) |
Secured credit facility, Nevada Power, expiring June 2027 | NPC | Line of Credit | |
Debt Instrument [Line Items] | |
Maximum borrowing capacity | $ 600 |
Recent Financing Transactions_5
Recent Financing Transactions - SPPC (Details) - SPPC - USD ($) $ in Millions | Jun. 30, 2024 | Feb. 29, 2024 |
Washoe County Series 2016F, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 4.125% | |
Washoe County Series 2016F, due 2036 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 75 | |
Washoe County Series 2016B, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 3.625% | |
Washoe County Series 2016B, due 2036 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 60 | |
Humboldt County Series 2016B, due 2029 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 30 | |
Stated interest rate | 3.55% | |
Washoe County Series 2016C, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 4.125% | |
Washoe County Series 2016C, due 2036 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 30 | |
Humboldt County Series 2016A due 2029 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 20 | |
Stated interest rate | 3.55% | |
Washoe County Series 2016G, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 3.625% | |
Washoe County Series 2016G, due 2036 | Subsidiary Debt | ||
Debt Instrument [Line Items] | ||
Face amount | $ 20 | |
Secured credit facility, Sierra Pacific, expiring June 2027 | Line of Credit | ||
Debt Instrument [Line Items] | ||
Maximum borrowing capacity | $ 400 |
Income Taxes - BHE (Details)
Income Taxes - BHE (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
Income tax credits | (50.00%) | (34.00%) | (67.00%) | (35.00%) | |
State income tax, net of federal income tax impacts | (2.00%) | 0% | (1.00%) | (2.00%) | |
Income tax effect of foreign income | (1.00%) | (3.00%) | (2.00%) | 2% | |
Effects of ratemaking | (3.00%) | (3.00%) | (4.00%) | (3.00%) | |
Equity earnings | (3.00%) | (2.00%) | (3.00%) | (1.00%) | |
Noncontrolling interest | (1.00%) | (3.00%) | (1.00%) | (3.00%) | |
Other | 1% | 0% | (1.00%) | 0% | |
Effective income tax rate | (38.00%) | (24.00%) | (58.00%) | (21.00%) | |
Years eligible for federal renewable energy production tax credit | 10 years | ||||
Production tax credits | $ 771 | $ 700 | |||
Related party transaction, cash received (paid) for income taxes | $ 851 | $ 864 | |||
United Kingdom | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Income tax effect, change in enacted tax rate, Energy Profit Levy | $ 82 |
Income Taxes - PAC (Details)
Income Taxes - PAC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | (2.00%) | 0% | (1.00%) | (2.00%) | |
Income tax credits | (50.00%) | (34.00%) | (67.00%) | (35.00%) | |
Effects of ratemaking | (3.00%) | (3.00%) | (4.00%) | (3.00%) | |
Other | 1% | 0% | (1.00%) | 0% | |
Effective income tax rate | (38.00%) | (24.00%) | (58.00%) | (21.00%) | |
Income tax expense (benefit) | $ (308) | $ (255) | $ (679) | $ (417) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 | |
Wildfire losses, net of recoveries | $ 251 | $ 49 | $ 251 | 408 | |
Years eligible for federal renewable energy production tax credit | 10 years | ||||
Related party transaction, cash received (paid) for income taxes | $ 851 | $ 864 | |||
PAC | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | 3% | 2% | 1% | 4% | |
Income tax credits | 22% | (34.00%) | 137% | 36% | |
Effects of ratemaking | 9% | (26.00%) | 63% | 22% | |
Valuation allowance | 0% | 0% | 0% | 7% | |
Other | 0% | (2.00%) | 2% | 1% | |
Effective income tax rate | 55% | (39.00%) | 224% | 91% | |
Income tax expense (benefit) | $ (85) | $ (30) | $ (94) | $ (140) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | (154) | 76 | (42) | (154) | |
Wildfire losses, net of recoveries | 251 | 49 | 251 | 408 | |
Federal statutory income tax rate, benefit | 32 | 9 | 32 | ||
Income tax credit, benefit | 33 | $ 26 | 58 | 55 | |
Effects of ratemaking, benefit | 15 | $ 27 | 34 | ||
Years eligible for federal renewable energy production tax credit | 10 years | ||||
Related party transaction, cash received (paid) for income taxes | $ 167 | $ 205 | |||
Income taxes payable | $ 24 | $ 24 | |||
Income taxes receivable | $ 114 |
Income Taxes - MEC (Details)
Income Taxes - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | (50.00%) | (34.00%) | (67.00%) | (35.00%) |
State income tax, net of federal income tax impacts | (2.00%) | 0% | (1.00%) | (2.00%) |
Effects of ratemaking | (3.00%) | (3.00%) | (4.00%) | (3.00%) |
Other | 1% | 0% | (1.00%) | 0% |
Effective income tax rate | (38.00%) | (24.00%) | (58.00%) | (21.00%) |
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 771 | $ 700 | ||
Related party transaction, cash received (paid) for income taxes | $ 851 | $ 864 | ||
MEC | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | (892.00%) | (251.00%) | (1009.00%) | (347.00%) |
State income tax, net of federal income tax impacts | (13.00%) | (6.00%) | (14.00%) | (10.00%) |
Effects of ratemaking | 0% | (4.00%) | (2.00%) | (6.00%) |
Other | (4.00%) | (2.00%) | (1.00%) | (1.00%) |
Effective income tax rate | (888.00%) | (242.00%) | (1005.00%) | (343.00%) |
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 434 | $ 375 | ||
MEC | BHE | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Related party transaction, cash received (paid) for income taxes | $ 480 | $ 520 |
Income Taxes - LLC (Details)
Income Taxes - LLC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | (50.00%) | (34.00%) | (67.00%) | (35.00%) |
State income tax, net of federal income tax impacts | (2.00%) | 0% | (1.00%) | (2.00%) |
Effects of ratemaking | (3.00%) | (3.00%) | (4.00%) | (3.00%) |
Other | 1% | 0% | (1.00%) | 0% |
Effective income tax rate | (38.00%) | (24.00%) | (58.00%) | (21.00%) |
Production Tax Credit Carryforwards [Abstract] | ||||
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 771 | $ 700 | ||
Related Party Income Tax Receivable (Payable) [Abstract] | ||||
Related party transaction, cash received (paid) for income taxes | $ 851 | $ 864 | ||
MidAmerican Funding, LLC | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | (1070.00%) | (266.00%) | (1240.00%) | (335.00%) |
State income tax, net of federal income tax impacts | (20.00%) | (8.00%) | (17.00%) | (10.00%) |
Effects of ratemaking | 0% | (5.00%) | (3.00%) | (5.00%) |
Other | (1.00%) | 0% | (1.00%) | (1.00%) |
Effective income tax rate | (1070.00%) | (258.00%) | (1240.00%) | (330.00%) |
Production Tax Credit Carryforwards [Abstract] | ||||
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 434 | $ 375 | ||
MidAmerican Funding, LLC | BHE | ||||
Related Party Income Tax Receivable (Payable) [Abstract] | ||||
Related party transaction, cash received (paid) for income taxes | $ 482 | $ 522 |
Income Taxes - NPC (Details)
Income Taxes - NPC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (3.00%) | (3.00%) | (4.00%) | (3.00%) |
Income tax credits | (50.00%) | (34.00%) | (67.00%) | (35.00%) |
Other | 1% | 0% | (1.00%) | 0% |
Effective income tax rate | (38.00%) | (24.00%) | (58.00%) | (21.00%) |
Related party transaction, cash received (paid) for income taxes | $ 851 | $ 864 | ||
NPC | ||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (5.00%) | (11.00%) | (4.00%) | (10.00%) |
Income tax credits | (4.00%) | 0% | (5.00%) | 0% |
Other | 1% | 0% | 1% | (1.00%) |
Effective income tax rate | 13% | 10% | 13% | 10% |
Related party transaction, cash received (paid) for income taxes | $ (93) | $ 0 |
Income Taxes - SPPC (Details)
Income Taxes - SPPC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (3.00%) | (3.00%) | (4.00%) | (3.00%) |
Other | 1% | 0% | (1.00%) | 0% |
Effective income tax rate | (38.00%) | (24.00%) | (58.00%) | (21.00%) |
Related party transaction, cash received (paid) for income taxes | $ 851 | $ 864 | ||
SPPC | ||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (12.00%) | (9.00%) | (13.00%) | (9.00%) |
Other | (1.00%) | 1% | 0% | 1% |
Effective income tax rate | 8% | 13% | 8% | 13% |
Related party transaction, cash received (paid) for income taxes | $ (56) | $ 0 |
Income Taxes - EEGH (Details)
Income Taxes - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | (2.00%) | 0% | (1.00%) | (2.00%) | |
Equity earnings | (3.00%) | (2.00%) | (3.00%) | (1.00%) | |
Noncontrolling interest | (1.00%) | (3.00%) | (1.00%) | (3.00%) | |
Other | 1% | 0% | (1.00%) | 0% | |
Effective income tax rate | (38.00%) | (24.00%) | (58.00%) | (21.00%) | |
EEGH | |||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | 1% | 2% | 3% | 2% | |
Equity earnings | 1% | 1% | 2% | 1% | |
Noncontrolling interest | (4.00%) | (11.00%) | (3.00%) | (10.00%) | |
Other | 0% | (1.00%) | 0% | 0% | |
Effective income tax rate | 19% | 12% | 23% | 14% | |
EEGH | Related party | |||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Income taxes receivable | $ 12 | $ 12 | $ 67 |
Income Taxes - EGTS (Details)
Income Taxes - EGTS (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | (2.00%) | 0% | (1.00%) | (2.00%) | |
Other | 1% | 0% | (1.00%) | 0% | |
Effective income tax rate | (38.00%) | (24.00%) | (58.00%) | (21.00%) | |
EGTS | |||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
State income tax, net of federal income tax impacts | 4% | 5% | 4% | 5% | |
Allowance for funds used during construction-equity | 0% | (1.00%) | 0% | 0% | |
Other | 0% | 0% | 1% | (1.00%) | |
Effective income tax rate | 25% | 25% | 26% | 25% | |
EGTS | Related party | |||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||||
Income taxes receivable | $ 17 | $ 17 | $ 57 |
Employee Benefit Plans - BHE (D
Employee Benefit Plans - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 1 | $ 2 | $ 2 | $ 3 |
Interest cost | 8 | 7 | 15 | 14 |
Expected return on plan assets | (9) | (10) | (17) | (18) |
Net amortization | 0 | 0 | (1) | (1) |
Net periodic benefit credit | 0 | (1) | (1) | (2) |
U.S. | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 5 | 5 | 8 | 9 |
Interest cost | 27 | 27 | 53 | 55 |
Expected return on plan assets | (33) | (31) | (64) | (62) |
Settlement | 0 | 0 | 0 | (5) |
Net amortization | 2 | 3 | 4 | 7 |
Net periodic benefit credit | 1 | 4 | 1 | 4 |
United Kingdom | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 2 | 1 | 3 | 3 |
Interest cost | 13 | 14 | 27 | 28 |
Expected return on plan assets | (19) | (21) | (39) | (40) |
Net amortization | 7 | 7 | 14 | 13 |
Net periodic benefit credit | $ 3 | $ 1 | $ 5 | $ 4 |
Employee Benefit Plans - BHE -
Employee Benefit Plans - BHE - Employer Contributions (Details) - 6 months ended Jun. 30, 2024 £ 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 | $ 5 | ||
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 | 6 | ||
United Kingdom | Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, expected contributions in current fiscal year | £ | £ 9 | ||
Employer contributions | $ 6 | £ 4 |
Employee Benefit Plans - PAC (D
Employee Benefit Plans - PAC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 1 | $ 2 | $ 2 | $ 3 |
Interest cost | 8 | 7 | 15 | 14 |
Expected return on plan assets | (9) | (10) | (17) | (18) |
Net amortization | 0 | 0 | (1) | (1) |
Net periodic benefit credit | 0 | (1) | (1) | (2) |
U.S. | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 5 | 5 | 8 | 9 |
Interest cost | 27 | 27 | 53 | 55 |
Expected return on plan assets | (33) | (31) | (64) | (62) |
Net amortization | 2 | 3 | 4 | 7 |
Net periodic benefit credit | 1 | 4 | 1 | 4 |
PAC | Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0 | 1 | 0 | 1 |
Interest cost | 3 | 2 | 6 | 5 |
Expected return on plan assets | (3) | (4) | (6) | (7) |
Net amortization | (1) | 0 | (2) | (1) |
Net periodic benefit credit | (1) | (1) | (2) | (2) |
PAC | U.S. | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 9 | 9 | 18 | 19 |
Expected return on plan assets | (12) | (12) | (24) | (24) |
Net amortization | 3 | 3 | 5 | 6 |
Net periodic benefit credit | $ 0 | $ 0 | $ (1) | $ 1 |
Employee Benefit Plans - PAC -
Employee Benefit Plans - PAC - Employer Contributions (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2024 USD ($) | |
Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | $ 5 |
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 | 6 |
PAC | Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 0 |
PAC | U.S. | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 4 |
Employer contributions | $ 2 |
Employee Benefit Plans - MEC (D
Employee Benefit Plans - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Pension Plan | U.S. | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 5 | $ 5 | $ 8 | $ 9 |
Interest cost | 27 | 27 | 53 | 55 |
Expected return on plan assets | (33) | (31) | (64) | (62) |
Settlement | 0 | 0 | 0 | (5) |
Net amortization | 2 | 3 | 4 | 7 |
Net periodic benefit credit | 1 | 4 | 1 | 4 |
Pension Plan | U.S. | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 3 | 3 | 5 | 6 |
Interest cost | 8 | 8 | 16 | 16 |
Expected return on plan assets | (8) | (8) | (16) | (16) |
Settlement | 0 | 0 | 0 | (5) |
Net amortization | (1) | 0 | (1) | 0 |
Net periodic benefit credit | 2 | 3 | 4 | 1 |
Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | 2 | 2 | 3 |
Interest cost | 8 | 7 | 15 | 14 |
Expected return on plan assets | (9) | (10) | (17) | (18) |
Net amortization | 0 | 0 | (1) | (1) |
Net periodic benefit credit | 0 | (1) | (1) | (2) |
Other Postretirement Plans | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | 1 | 2 | 2 |
Interest cost | 3 | 3 | 6 | 6 |
Expected return on plan assets | (4) | (4) | (8) | (8) |
Net amortization | 1 | 0 | 1 | 0 |
Net periodic benefit credit | $ 1 | $ 0 | $ 1 | $ 0 |
Employee Benefit Plans - MEC -
Employee Benefit Plans - MEC - Employer Contributions (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2024 USD ($) | |
Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | $ 5 |
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 | 6 |
U.S. | MEC | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 8 |
Employer contributions | $ 3 |
Employee Benefit Plans - NPC (D
Employee Benefit Plans - NPC (Details) - NPC - U.S. - NV Energy, Inc. - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Other Assets | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | $ 38 | $ 38 |
Other Assets | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | 10 | 10 |
Other current liabilities | Other Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other current liabilities | (1) | (1) |
Other Noncurrent Liabilities | Other Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other long-term liabilities | $ (6) | $ (6) |
Employee Benefit Plans - SPPC (
Employee Benefit Plans - SPPC (Details) - SPPC - U.S. - NV Energy, Inc. - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Other Assets | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | $ 55 | $ 53 |
Other Assets | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | 0 | 1 |
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) |
Employee Benefit Plans - EEGH (
Employee Benefit Plans - EEGH (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
EEGH | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension plan liability, noncurrent | $ 53 | $ 53 | |
Pension Plan | EEGH | MidAmerican Energy Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 4 | $ 4 | |
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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Other Postretirement Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 1 | ||
EGTS | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employee benefit plan liability, noncurrent | 48 | $ 48 | |
EGTS | MidAmerican Energy Company Retirement Plan | Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 3 | $ 4 | |
EGTS | MidAmerican Energy Retiree Health and Welfare Plan | Other Postretirement Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 1 | $ 1 |
Risk Management and Hedging A_3
Risk Management and Hedging Activities - PAC - Balance Sheet Location (Details) - PAC - Commodity derivatives - USD ($) $ in Millions | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||||||
Total derivative asset (liability) | $ (139) | $ (76) | ||||
Cash collateral receivable | 48 | 10 | ||||
Total derivatives - net basis | (91) | (66) | ||||
Derivative Contracts - Current Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total derivative asset (liability) | 5 | 18 | ||||
Cash collateral receivable | 0 | (2) | ||||
Total derivatives - net basis | 5 | 16 | ||||
Other Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total derivative asset (liability) | 3 | 2 | ||||
Cash collateral receivable | 0 | 0 | ||||
Total derivatives - net basis | 3 | 2 | ||||
Other current liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total derivative asset (liability) | (134) | (76) | ||||
Cash collateral receivable | 48 | 12 | ||||
Total derivatives - net basis | (86) | (64) | ||||
Other Noncurrent Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total derivative asset (liability) | (13) | (20) | ||||
Cash collateral receivable | 0 | 0 | ||||
Total derivatives - net basis | (13) | (20) | ||||
Not Designated as Hedging | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 27 | 32 | ||||
Derivative liability | (166) | (108) | ||||
Total derivative asset (liability) | (139) | (76) | ||||
Net regulatory asset (liability) on derivative contracts | 139 | $ 113 | 76 | $ (9) | $ (109) | $ (270) |
Not Designated as Hedging | Derivative Contracts - Current Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 5 | 21 | ||||
Derivative liability | 0 | (3) | ||||
Total derivative asset (liability) | 5 | 18 | ||||
Not Designated as Hedging | Other Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 5 | 2 | ||||
Derivative liability | (2) | 0 | ||||
Total derivative asset (liability) | 3 | 2 | ||||
Not Designated as Hedging | Other current liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 14 | 7 | ||||
Derivative liability | (148) | (83) | ||||
Total derivative asset (liability) | (134) | (76) | ||||
Not Designated as Hedging | Other Noncurrent Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 3 | 2 | ||||
Derivative liability | (16) | (22) | ||||
Total derivative asset (liability) | $ (13) | $ (20) |
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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Instruments [Roll Forward] | ||||
Beginning balance | $ 113 | $ (109) | $ 76 | $ (270) |
Changes in fair value recognized in regulatory assets | 73 | 102 | 164 | 92 |
Net gains (losses) reclassified to operating revenue | 2 | (2) | 3 | (8) |
Net (losses) gains reclassified to energy costs | (49) | 0 | (104) | 177 |
Ending balance | $ 139 | $ (9) | $ 139 | $ (9) |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 Dth MWh | Dec. 31, 2023 Dth MWh | |
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Electricity purchases, net | MWh | 2 | 2 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | Dth | 154 | 153 |
Risk Management and Hedging A_6
Risk Management and Hedging Activities - PAC - Collateral and Contingent Features (Details) - PAC - Commodity derivatives - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 159 | $ 108 |
Collateral already posted, aggregate fair value | 48 | 12 |
Additional collateral, aggregate fair value | $ 90 | $ 84 |
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 | Jun. 30, 2024 | Dec. 31, 2023 |
Derivatives, Fair Value [Line Items] | ||
Commodity liabilities | $ (101) | $ (68) |
Net regulatory asset (liability) on derivative contracts | 101 | 68 |
Other Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Commodity liabilities | 0 | 0 |
Derivative Contracts - Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Commodity liabilities | (85) | (62) |
Other Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Commodity liabilities | $ (16) | $ (6) |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 Dth MWh | Dec. 31, 2023 Dth MWh | |
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Electricity purchases, net | MWh | 2 | 1 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | Dth | 131 | 132 |
Risk Management and Hedging A_9
Risk Management and Hedging Activities - NPC - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Commodity derivatives | NPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 6 | $ 7 |
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 | Jun. 30, 2024 | Dec. 31, 2023 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | $ 1 | |
Derivative liability | (28) | $ (16) |
Total derivative asset (liability) | (27) | |
Net regulatory asset (liability) on derivative contracts | 27 | 16 |
Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 1 | |
Derivative liability | 0 | 0 |
Total derivative asset (liability) | 1 | |
Derivative Contracts - Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | (24) | (16) |
Total derivative asset (liability) | (24) | |
Other Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | (4) | $ 0 |
Total derivative asset (liability) | $ (4) |
Risk Management and Hedging _11
Risk Management and Hedging Activities - SPPC - Derivative Contract Volumes (Details) - SPPC - Commodity derivatives MWh in Millions, Dth in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 Dth MWh | Dec. 31, 2023 Dth MWh | |
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Electricity purchases, net | MWh | 1 | 0 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | Dth | 56 | 55 |
Risk Management and Hedging _12
Risk Management and Hedging Activities -SPPC - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Commodity derivatives | SPPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 0 | $ 1 |
Fair Value Measurements - BHE (
Fair Value Measurements - BHE (Details) - Recurring - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (41) | $ (31) |
Assets, fair value | 8,386 | 6,188 |
Derivative liability, offset | 98 | 58 |
Derivative liability | (263) | (193) |
Cash collateral receivable | 57 | 27 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Mortgage loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 705 | 451 |
U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1,844 | 1,253 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 95 | 70 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 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 | 460 | 427 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,748 | 2,226 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,433 | 5,523 |
Derivative liability | (2) | (7) |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
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 | 1,844 | 1,253 |
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 | 460 | 427 |
Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,748 | 2,226 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 975 | 685 |
Derivative liability | (218) | (149) |
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 | 705 | 451 |
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 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 95 | 70 |
Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 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 | 19 | 11 |
Derivative liability | (141) | (95) |
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 | 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 | (41) | (31) |
Derivative asset | 92 | 95 |
Derivative liability, offset | 96 | 54 |
Derivative liability | (248) | (182) |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 1 |
Derivative liability, gross | (2) | (7) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 126 | 121 |
Derivative liability, gross | (202) | (134) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 7 | 4 |
Derivative liability, gross | (140) | (95) |
Foreign currency exchange rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (13) | (8) |
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 | (13) | (8) |
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 | 97 | 85 |
Derivative liability, offset | 2 | 4 |
Derivative liability | (2) | (3) |
Interest rate derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 39 | 38 |
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 | 46 | 40 |
Derivative liability, gross | (3) | (7) |
Interest rate derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 12 | 7 |
Derivative liability, gross | $ (1) | $ 0 |
Fair Value Measurements - BHE -
Fair Value Measurements - BHE - Level 3 (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Commodity derivatives | ||||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (135) | $ (150) | $ (91) | $ (59) |
Changes included in earnings | (2) | 1 | (5) | 10 |
Changes in fair value recognized in OCI | 0 | (3) | ||
Changes in fair value recognized in regulatory assets | (24) | (85) | (80) | (183) |
Settlements | 28 | 60 | 43 | 61 |
Ending balance | (133) | (174) | (133) | (174) |
Interest rate derivatives | ||||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 11 | 15 | 7 | 6 |
Changes included in earnings | 0 | (4) | 4 | 5 |
Changes in fair value recognized in OCI | 0 | 0 | ||
Changes in fair value recognized in regulatory assets | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Ending balance | $ 11 | $ 11 | $ 11 | $ 11 |
Fair Value Measurements - BHE_2
Fair Value Measurements - BHE - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 56,470 | $ 52,172 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 50,998 | $ 48,624 |
Fair Value Measurements - PAC (
Fair Value Measurements - PAC (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (41) | $ (31) |
Assets, fair value | 8,386 | 6,188 |
Derivative liability, offset | 98 | 58 |
Derivative liability | (263) | (193) |
Cash collateral receivable | 57 | 27 |
Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,433 | 5,523 |
Derivative liability | (2) | (7) |
Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 975 | 685 |
Derivative liability | (218) | (149) |
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 | 19 | 11 |
Derivative liability | (141) | (95) |
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 | (41) | (31) |
Derivative asset | 92 | 95 |
Derivative liability, offset | 96 | 54 |
Derivative liability | (248) | (182) |
Commodity derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 1 |
Derivative liability, gross | (2) | (7) |
Commodity derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 126 | 121 |
Derivative liability, gross | (202) | (134) |
Commodity derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 7 | 4 |
Derivative liability, gross | (140) | (95) |
PAC | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 28 | 26 |
Assets, fair value | 1,369 | 219 |
PAC | Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 1,333 | 175 |
PAC | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 28 | 26 |
Assets, fair value | 1,361 | 201 |
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 | 1,333 | 175 |
PAC | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Assets, fair value | 27 | 32 |
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 | 48 | 10 |
PAC | Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (19) | (14) |
Derivative asset | 8 | 18 |
Derivative liability, offset | 67 | 24 |
Derivative liability | (99) | (84) |
Cash collateral receivable | 48 | 10 |
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 | 27 | 32 |
Derivative liability, gross | (166) | (108) |
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 | Jun. 30, 2024 | Dec. 31, 2023 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 56,470 | $ 52,172 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 50,998 | 48,624 |
PAC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 13,750 | 10,410 |
PAC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 12,608 | $ 9,722 |
Fair Value Measurements - MEC (
Fair Value Measurements - MEC (Details) - Recurring - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (41) | $ (31) |
Assets, fair value | 8,386 | 6,188 |
Derivative liability, offset | 98 | 58 |
Cash collateral receivable | 57 | 27 |
U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1,844 | 1,253 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 95 | 70 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 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 | 460 | 427 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,748 | 2,226 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,433 | 5,523 |
Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1,844 | 1,253 |
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 | 460 | 427 |
Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,748 | 2,226 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 975 | 685 |
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 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 95 | 70 |
Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 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 | 19 | 11 |
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 | 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 | (41) | (31) |
Derivative liability, offset | 96 | 54 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 1 |
Derivative liability | (2) | (7) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 126 | 121 |
Derivative liability | (202) | (134) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 7 | 4 |
Derivative liability | (140) | (95) |
MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,777 | 1,441 |
Cash collateral receivable | 2 | 12 |
MEC | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 256 | 257 |
MEC | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 95 | 70 |
MEC | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 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 | 460 | 427 |
MEC | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 9 | 9 |
MEC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 22 | 19 |
MEC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 927 | 643 |
MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,674 | 1,355 |
MEC | Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 256 | 257 |
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 | 460 | 427 |
MEC | Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 9 | 9 |
MEC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 22 | 19 |
MEC | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 927 | 643 |
MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 105 | 88 |
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 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 95 | 70 |
MEC | Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 3 |
MEC | Level 2 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | |
MEC | Level 2 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
MEC | Level 2 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
MEC | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | |
MEC | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 2 | 0 |
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 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 3 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 3 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | |
MEC | Level 3 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
MEC | Level 3 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
MEC | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | |
MEC | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
MEC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 5 | 13 |
Derivative asset, offset | (4) | (2) |
Derivative liability | (16) | (12) |
Derivative liability, offset | 6 | 14 |
MEC | 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 |
MEC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 7 | 15 |
Derivative liability | (18) | (15) |
MEC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 2 | 0 |
Derivative liability | $ (4) | $ (11) |
Fair Value Measurements - MEC -
Fair Value Measurements - MEC - Level 3 (Details) - MEC - Commodity - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (6) | $ (5) | $ (11) | $ 5 |
Changes in fair value recognized in regulatory assets | (2) | (14) | (6) | (27) |
Settlements | 6 | 5 | 15 | 8 |
Ending balance | $ (2) | $ (14) | $ (2) | $ (14) |
Fair Value Measurements - MEC_2
Fair Value Measurements - MEC - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 56,470 | $ 52,172 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 50,998 | 48,624 |
MEC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 9,359 | 8,766 |
MEC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 8,431 | $ 8,252 |
Fair Value Measurements - LLC (
Fair Value Measurements - LLC (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 56,470 | $ 52,172 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 50,998 | 48,624 |
MidAmerican Funding, LLC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 9,599 | 9,006 |
MidAmerican Funding, LLC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 8,686 | $ 8,515 |
Fair Value Measurements - NPC (
Fair Value Measurements - NPC (Details) - Recurring - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 8,386 | $ 6,188 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,433 | 5,523 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 975 | 685 |
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 | 19 | 11 |
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 liability | (2) | (7) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (202) | (134) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (140) | (95) |
NPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 98 | 14 |
NPC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 8 | 4 |
NPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 90 | 10 |
NPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 98 | 14 |
NPC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 8 | 4 |
NPC | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 90 | 10 |
NPC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
NPC | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
NPC | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
NPC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
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 liability | (101) | (68) |
NPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 0 | 0 |
NPC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 0 | 0 |
NPC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | $ (101) | $ (68) |
Fair Value Measurements - NPC -
Fair Value Measurements - NPC - Level 3 (Details) - NPC - Commodity - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (101) | $ (116) | $ (68) | $ (52) |
Changes in fair value recognized in regulatory assets | (17) | (54) | (58) | (119) |
Settlements | 17 | 44 | 25 | 45 |
Ending balance | $ (101) | $ (126) | $ (101) | $ (126) |
Fair Value Measurements - NPC_2
Fair Value Measurements - NPC - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 56,470 | $ 52,172 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 50,998 | 48,624 |
NPC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 3,393 | 3,392 |
NPC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 3,284 | $ 3,417 |
Fair Value Measurements - SPPC
Fair Value Measurements - SPPC (Details) - Recurring - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 8,386 | $ 6,188 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,433 | 5,523 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 975 | 685 |
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 | 19 | 11 |
Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 1 |
Derivative liability | (2) | (7) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 126 | 121 |
Derivative liability | (202) | (134) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 7 | 4 |
Derivative liability | (140) | (95) |
SPPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 67 | 42 |
SPPC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 2 | 1 |
SPPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 64 | 41 |
SPPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 66 | 42 |
SPPC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 2 | 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 | 64 | 41 |
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 | 0 |
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 | |
Derivative liability | (28) | (16) |
SPPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | 0 | 0 |
SPPC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability | 0 | 0 |
SPPC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 1 | |
Derivative liability | $ (28) | $ (16) |
Fair Value Measurements - SPP_2
Fair Value Measurements - SPPC - Level 3 (Details) - Commodity - SPPC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (26) | $ (33) | $ (16) | $ (13) |
Changes in fair value recognized in regulatory assets | (5) | (17) | (16) | (37) |
Settlements | 4 | 14 | 5 | 14 |
Ending balance | $ (27) | $ (36) | $ (27) | $ (36) |
Fair Value Measurements - SPP_3
Fair Value Measurements - SPPC - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 56,470 | $ 52,172 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 50,998 | 48,624 |
SPPC | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 1,526 | 1,293 |
SPPC | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,486 | $ 1,311 |
Fair Value Measurements - EEGH
Fair Value Measurements - EEGH (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | $ 17 | $ 19 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 8,386 | 6,188 |
Derivative liability | (263) | (193) |
Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Recurring | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Recurring | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 124 | 81 |
Total liabilities | (13) | (8) |
Recurring | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 107 | 62 |
Recurring | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 17 | 19 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,433 | 5,523 |
Derivative liability | (2) | (7) |
Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Recurring | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 305 | 268 |
Recurring | Level 1 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 124 | 81 |
Total liabilities | 0 | 0 |
Recurring | Level 1 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 107 | 62 |
Recurring | Level 1 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 17 | 19 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 975 | 685 |
Derivative liability | (218) | (149) |
Recurring | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Recurring | Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Total liabilities | (13) | (8) |
Recurring | Level 2 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 2 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 19 | 11 |
Derivative liability | (141) | (95) |
Recurring | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Recurring | Level 3 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Total liabilities | 0 | 0 |
Recurring | Level 3 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 3 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Foreign currency exchange rate derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (13) | (8) |
Foreign currency exchange rate derivatives | Recurring | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (13) | (8) |
Foreign currency exchange rate derivatives | Recurring | Level 1 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 0 | 0 |
Foreign currency exchange rate derivatives | Recurring | Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (13) | (8) |
Foreign currency exchange rate derivatives | Recurring | Level 3 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | $ 0 | $ 0 |
Fair Value Measurements - EEG_2
Fair Value Measurements - EEGH - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 56,470 | $ 52,172 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 50,998 | 48,624 |
EEGH | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 3,247 | 3,254 |
EEGH | Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 2,947 | $ 2,968 |
Fair Value Measurements - EGTS
Fair Value Measurements - EGTS (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | $ 17 | $ 19 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 8,386 | 6,188 |
Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Recurring | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 17 | 19 |
Assets, fair value | 51 | 24 |
Recurring | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 34 | 5 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,433 | 5,523 |
Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 3,037 | 1,310 |
Recurring | Level 1 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 17 | 19 |
Assets, fair value | 51 | 24 |
Recurring | Level 1 | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 34 | 5 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 975 | 685 |
Recurring | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 2 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | 0 |
Assets, fair value | 0 | 0 |
Recurring | Level 2 | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 19 | 11 |
Recurring | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | 0 |
Recurring | Level 3 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | 0 |
Assets, fair value | 0 | 0 |
Recurring | Level 3 | EGTS | 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 | Jun. 30, 2024 | Dec. 31, 2023 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 56,470 | $ 52,172 |
Carrying Value | EGTS | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 1,584 | 1,583 |
Level 2 | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 50,998 | 48,624 |
Level 2 | Fair Value | EGTS | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,360 | $ 1,386 |
Commitments and Contingencies -
Commitments and Contingencies - BHE - Narrative - Commitments (Details) $ in Millions | Jun. 30, 2024 USD ($) |
Fuel contracts | PAC | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | $ 1,900 |
Construction commitment | MEC | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | 150 |
Engineering, procurement and construction commitments, transmission expansion program | NPC and SPPC | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | 2,100 |
Engineering, procurement and construction commitments, transmission expansion program | SPPC | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | 624 |
Engineering, procurement and construction commitments, solar photovoltaic facility and battery storage | SPPC | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | $ 986 |
Commitments and Contingencies_2
Commitments and Contingencies - BHE - Narrative - Environmental Laws and Regulations (Details) naturalGasProducer in Thousands, a in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 6 Months Ended | 30 Months Ended | |||||||||||||||
Feb. 13, 2024 plaintiff | Oct. 16, 2023 USD ($) | Aug. 02, 2024 USD ($) | Jun. 30, 2024 USD ($) dam | Apr. 30, 2024 USD ($) | Mar. 31, 2024 USD ($) plaintiff | Feb. 29, 2024 USD ($) | Jan. 31, 2024 USD ($) plaintiff | Sep. 30, 2023 trial | Jun. 30, 2023 USD ($) plaintiff wildfire | Apr. 30, 2023 plaintiff | Sep. 30, 2020 a naturalGasProducer | Jun. 30, 2024 USD ($) dam | Mar. 31, 2024 USD ($) | Jun. 30, 2023 USD ($) | Jul. 31, 2024 class_member complaint | Jun. 30, 2024 USD ($) dam case | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) dam | Dec. 31, 2023 USD ($) | |
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Wildfire losses, net of recoveries | $ 251 | $ 49 | $ 251 | $ 408 | ||||||||||||||||
HomeServices antitrust cases | Texas State Law Antitrust Claims | HomeServices | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages sought | $ 9,000 | |||||||||||||||||||
Number of trials | case | 2 | |||||||||||||||||||
HomeServices antitrust cases | Burnett case | HomeServices | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | $ 1,800 | |||||||||||||||||||
Litigation settlement, amount awarded to other party | $ 250 | |||||||||||||||||||
Litigation settlement, payment terms | 4 years | |||||||||||||||||||
Loss contingency accrual, provision | $ 140 | |||||||||||||||||||
PAC | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Estimated loss accrual, current | $ 445 | 445 | $ 445 | $ 445 | $ 4 | |||||||||||||||
Wildfire losses, net of recoveries | $ 251 | 49 | $ 251 | 408 | ||||||||||||||||
PAC | Lower Klamath Hydroelectric System | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Number of dams | dam | 3 | 3 | 3 | 3 | ||||||||||||||||
Hydroelectric dam removal cost, total funding | $ 450 | $ 450 | $ 450 | $ 450 | ||||||||||||||||
Dam removal cost collected | 200 | |||||||||||||||||||
Additional dam removal costs, California bond measure | 250 | |||||||||||||||||||
Hydroelectric dam removal cost, additional contingency funding | 45 | 45 | 45 | 45 | ||||||||||||||||
PAC | Wildfires | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages sought | $ 3,000 | |||||||||||||||||||
Estimate of possible loss (up to) | 2,658 | 2,658 | 2,658 | 2,658 | ||||||||||||||||
Settlement payments | 73 | 17 | 91 | 17 | ||||||||||||||||
Estimated loss accrual, current | 445 | 445 | 445 | 445 | 4 | |||||||||||||||
Wildfire losses, net of recoveries | 251 | 49 | 251 | 408 | ||||||||||||||||
Loss contingency accrual, provision | 251 | $ 141 | 251 | $ 541 | ||||||||||||||||
PAC | Wildfires | Subsequent event | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Settlement payments | $ 246 | |||||||||||||||||||
Litigation settlement, amount awarded and not yet paid | $ 199 | |||||||||||||||||||
PAC | Wildfires | Other receivables | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Receivable, expected insurance recoveries | 15 | 15 | 15 | 15 | 350 | |||||||||||||||
PAC | Wildfires | Other Assets | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Receivable, expected insurance recoveries | 124 | $ 124 | $ 124 | 124 | $ 149 | |||||||||||||||
PAC | 2020 Wildfires | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Number of acres burned | a | 500 | |||||||||||||||||||
Number of structures destroyed | naturalGasProducer | 2 | |||||||||||||||||||
Settlement payments | $ 775 | |||||||||||||||||||
PAC | 2020 Wildfires | James case | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Number of plaintiffs | plaintiff | 17 | 17 | 17 | |||||||||||||||||
Number of wildfires | wildfire | 4 | |||||||||||||||||||
Multiplier | 0.25 | |||||||||||||||||||
Number of trials | trial | 3 | |||||||||||||||||||
Damages awarded, interest rate accrued per annum | 9% | |||||||||||||||||||
PAC | 2020 Wildfires | James case | Pending litigation | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | $ 90 | |||||||||||||||||||
PAC | 2020 Wildfires | James case | Judicial ruling | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | $ 92 | |||||||||||||||||||
PAC | 2020 Wildfires | James case | Settled litigation | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Number of plaintiffs | plaintiff | 5 | |||||||||||||||||||
PAC | 2020 Wildfires | James case | Economic and property damages | Pending litigation | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | 4 | |||||||||||||||||||
PAC | 2020 Wildfires | James case | Noneconomic damages | Pending litigation | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | 68 | |||||||||||||||||||
PAC | 2020 Wildfires | James case | Punitive damages | Pending litigation | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | 18 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, 1,443 class members | Subsequent event | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Number of plaintiffs | class_member | 1,443 | |||||||||||||||||||
Number of mass complaints | complaint | 4 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, first trial | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Number of plaintiffs | plaintiff | 9 | |||||||||||||||||||
Multiplier | 0.25 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, first trial | Pending litigation | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | $ 84 | $ 62 | ||||||||||||||||||
PAC | 2020 Wildfires | James case, first trial | Judicial ruling | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | $ 80 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, first trial | Economic and property damages | Pending litigation | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | 12 | 6 | ||||||||||||||||||
PAC | 2020 Wildfires | James case, first trial | Noneconomic damages | Pending litigation | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | $ 56 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, first trial | Punitive damages | Pending litigation | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | $ 16 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, second trial | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Number of plaintiffs | plaintiff | 10 | |||||||||||||||||||
Damages awarded | $ 42 | |||||||||||||||||||
Multiplier | 0.25 | |||||||||||||||||||
Litigation settlement, amount awarded to other party | $ 38 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, second trial | Economic and property damages | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | $ 12 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, second trial | Noneconomic damages | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | 23 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, second trial | Punitive damages | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages awarded | $ 7 | |||||||||||||||||||
PAC | 2020 Wildfires | James case, mass complaints | ||||||||||||||||||||
Long-Term Purchase Commitment [Line Items] | ||||||||||||||||||||
Damages sought | $ 43,000 |
Commitments and Contingencies_3
Commitments and Contingencies - BHE - Contingency Accrual (Details) - PAC - Wildfires - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Loss Contingency - Liabilities | |||||
Beginning balance | $ 1,705 | $ 1,723 | $ 824 | $ 1,723 | $ 424 |
Accrued losses | 251 | 141 | 251 | 541 | |
Payments | (73) | (17) | (91) | (17) | |
Ending balance | 1,883 | 1,705 | 948 | 1,883 | 948 |
Loss Contingency - Receivables | |||||
Beginning balance | 149 | 499 | 287 | 499 | 246 |
Accruals | 0 | 92 | 0 | 133 | |
Payments received | (10) | 0 | (360) | 0 | |
Ending balance | $ 139 | $ 149 | $ 379 | $ 139 | $ 379 |
Commitments and Contingencies_4
Commitments and Contingencies - PAC - Narrative - Commitments (Details) $ in Millions | Jun. 30, 2024 USD ($) |
Fuel contracts | PAC | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | $ 1,900 |
Commitments and Contingencies_5
Commitments and Contingencies - PAC - Narrative - Environmental Laws and Regulations (Details) naturalGasProducer in Thousands, a in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 6 Months Ended | 30 Months Ended | |||||||||||
Feb. 13, 2024 plaintiff | Aug. 02, 2024 USD ($) | Jun. 30, 2024 USD ($) dam | Mar. 31, 2024 USD ($) plaintiff | Jan. 31, 2024 plaintiff | Sep. 30, 2023 trial | Jun. 30, 2023 USD ($) plaintiff wildfire | Apr. 30, 2023 plaintiff | Sep. 30, 2020 a naturalGasProducer | Jun. 30, 2024 USD ($) dam | Jun. 30, 2023 USD ($) | Jul. 31, 2024 class_member complaint | Jun. 30, 2024 USD ($) dam | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) dam | Dec. 31, 2023 USD ($) | |
Loss Contingencies [Line Items] | ||||||||||||||||
Wildfire losses, net of recoveries | $ 251 | $ 49 | $ 251 | $ 408 | ||||||||||||
PAC | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Estimated loss accrual, current | $ 445 | 445 | 445 | $ 445 | $ 4 | |||||||||||
Wildfire losses, net of recoveries | 251 | 49 | 251 | 408 | ||||||||||||
PAC | 2020 Wildfires | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Number of acres burned | a | 500 | |||||||||||||||
Number of structures destroyed | naturalGasProducer | 2 | |||||||||||||||
Settlement payments | 775 | |||||||||||||||
PAC | 2020 Wildfires | James case | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Number of plaintiffs | plaintiff | 17 | 17 | 17 | |||||||||||||
Number of wildfires | wildfire | 4 | |||||||||||||||
Multiplier | 0.25 | |||||||||||||||
Number of trials | trial | 3 | |||||||||||||||
Damages awarded, interest rate accrued per annum | 9% | |||||||||||||||
PAC | 2020 Wildfires | James case | Settled litigation | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Number of plaintiffs | plaintiff | 5 | |||||||||||||||
PAC | 2020 Wildfires | James case, 1,443 class members | Subsequent event | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Number of mass complaints | complaint | 4 | |||||||||||||||
Number of plaintiffs | class_member | 1,443 | |||||||||||||||
PAC | 2020 Wildfires | James case, first trial | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Number of plaintiffs | plaintiff | 9 | |||||||||||||||
Multiplier | 0.25 | |||||||||||||||
PAC | 2020 Wildfires | James case, second trial | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Number of plaintiffs | plaintiff | 10 | |||||||||||||||
Damages awarded | $ 42 | |||||||||||||||
Multiplier | 0.25 | |||||||||||||||
Litigation settlement, amount awarded to other party | 38 | |||||||||||||||
PAC | 2020 Wildfires | James case, second trial | Economic and property damages | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Damages awarded | $ 12 | |||||||||||||||
PAC | 2020 Wildfires | James case, second trial | Noneconomic damages | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Damages awarded | 23 | |||||||||||||||
PAC | 2020 Wildfires | James case, second trial | Punitive damages | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Damages awarded | $ 7 | |||||||||||||||
PAC | Wildfires | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Damages sought | $ 3,000 | |||||||||||||||
Estimate of possible loss | 2,658 | 2,658 | 2,658 | 2,658 | ||||||||||||
Settlement payments | 73 | 17 | 91 | 17 | ||||||||||||
Estimated loss accrual, current | 445 | 445 | 445 | 445 | 4 | |||||||||||
Wildfire losses, net of recoveries | 251 | $ 49 | 251 | $ 408 | ||||||||||||
PAC | Wildfires | Subsequent event | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Settlement payments | $ 246 | |||||||||||||||
Litigation settlement, amount awarded and not yet paid | $ 199 | |||||||||||||||
PAC | Wildfires | Other receivables | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Receivable, expected insurance recoveries | 15 | 15 | 15 | 15 | 350 | |||||||||||
PAC | Wildfires | Other Assets | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Receivable, expected insurance recoveries | $ 124 | $ 124 | $ 124 | $ 124 | $ 149 | |||||||||||
PAC | Lower Klamath Hydroelectric System | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Number of dams | dam | 3 | 3 | 3 | 3 | ||||||||||||
Hydroelectric dam removal cost, total funding | $ 450 | $ 450 | $ 450 | $ 450 | ||||||||||||
Dam removal cost collected | 200 | |||||||||||||||
Additional dam removal costs, California bond measure | 250 | |||||||||||||||
Hydroelectric dam removal cost, additional contingency funding | $ 45 | $ 45 | $ 45 | $ 45 |
Commitments and Contingencies_6
Commitments and Contingencies - PAC - Contingency Accrual (Details) - Wildfires - PAC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Loss Contingency - Liabilities | |||||
Beginning balance | $ 1,705 | $ 1,723 | $ 824 | $ 1,723 | $ 424 |
Accrued losses | 251 | 141 | 251 | 541 | |
Payments | (73) | (17) | (91) | (17) | |
Ending balance | 1,883 | 1,705 | 948 | 1,883 | 948 |
Loss Contingency - Receivables | |||||
Beginning balance | 149 | 499 | 287 | 499 | 246 |
Accruals | 0 | 92 | 0 | 133 | |
Payments received | (10) | 0 | (360) | 0 | |
Ending balance | $ 139 | $ 149 | $ 379 | $ 139 | $ 379 |
Commitments and Contingencies_7
Commitments and Contingencies - MEC (Details) $ in Millions | Jun. 30, 2024 USD ($) |
MEC | Construction commitment | |
Loss Contingencies [Line Items] | |
Purchase obligation | $ 150 |
Commitments and Contingencies_8
Commitments and Contingencies - NPC (Details) $ in Billions | Jun. 30, 2024 USD ($) |
Engineering, procurement and construction commitments, transmission expansion program | NPC | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | $ 1.5 |
Commitments and Contingencies_9
Commitments and Contingencies - SPPC (Details) - SPPC $ in Millions | Jun. 30, 2024 USD ($) |
Engineering, procurement and construction commitments, transmission expansion program | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | $ 624 |
Engineering, procurement and construction commitments, solar photovoltaic facility and battery storage | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | $ 986 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 4,989 | 4,791 | 10,130 | 10,094 |
Other revenue | 126 | 142 | 230 | 310 |
Operating revenue | 5,115 | 4,933 | 10,360 | 10,404 |
PAC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,489 | 1,327 | 3,037 | 2,811 |
PAC | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,476 | 1,316 | 3,019 | 2,796 |
Other revenue | 13 | 11 | 18 | 15 |
Operating revenue | 1,489 | 1,327 | 3,037 | 2,811 |
MidAmerican Funding | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 730 | 759 | 1,573 | 1,679 |
MidAmerican Funding | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 705 | 725 | 1,533 | 1,629 |
Other revenue | 25 | 34 | 40 | 50 |
Operating revenue | 730 | 759 | 1,573 | 1,679 |
NV Energy, Inc. | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,099 | 1,119 | 2,007 | 2,118 |
NV Energy, Inc. | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,099 | 1,114 | 2,005 | 2,108 |
Other revenue | 0 | 5 | 2 | 10 |
Operating revenue | 1,099 | 1,119 | 2,007 | 2,118 |
Northern Powergrid Holdings | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 412 | 307 | 732 | 661 |
Northern Powergrid Holdings | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 380 | 277 | 669 | 603 |
Other revenue | 32 | 29 | 63 | 57 |
Operating revenue | 412 | 306 | 732 | 660 |
BHE Pipeline Group | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 837 | 818 | 1,965 | 1,991 |
BHE Pipeline Group | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 829 | 811 | 1,956 | 1,957 |
Other revenue | 8 | 7 | 9 | 34 |
Operating revenue | 837 | 818 | 1,965 | 1,991 |
BHE Transmission | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 198 | 192 | 396 | 397 |
BHE Transmission | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 197 | 196 | 395 | 401 |
Other revenue | 1 | (4) | 1 | (4) |
Operating revenue | 198 | 192 | 396 | 397 |
BHE Renewables | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 330 | 376 | 626 | 681 |
Other revenue | 48 | 61 | 99 | 149 |
Operating revenue | 378 | 437 | 725 | 830 |
BHE and Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | (28) | (26) | (75) | (83) |
BHE and Other | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (27) | (24) | (73) | (81) |
Other revenue | (1) | (1) | (2) | (1) |
Operating revenue | (28) | (25) | (75) | (82) |
Regulated | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 4,325 | 4,080 | 8,856 | 8,723 |
Regulated | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,001 | 2,844 | 5,715 | 5,532 |
Regulated | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 122 | 133 | 461 | 525 |
Regulated | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 50 | 89 | 168 | 280 |
Regulated | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 593 | 476 | 1,102 | 992 |
Regulated | Regulated interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 529 | 515 | 1,353 | 1,337 |
Regulated | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 30 | 23 | 57 | 57 |
Regulated | PAC | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,476 | 1,316 | 3,019 | 2,796 |
Regulated | PAC | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,392 | 1,232 | 2,839 | 2,581 |
Regulated | PAC | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | PAC | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 13 | 26 | 42 | 87 |
Regulated | PAC | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 42 | 34 | 83 | 72 |
Regulated | PAC | Regulated interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | PAC | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 29 | 24 | 55 | 56 |
Regulated | MidAmerican Funding | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 705 | 724 | 1,531 | 1,625 |
Regulated | MidAmerican Funding | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 579 | 569 | 1,064 | 1,060 |
Regulated | MidAmerican Funding | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 88 | 90 | 342 | 386 |
Regulated | MidAmerican Funding | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 25 | 52 | 97 | 152 |
Regulated | MidAmerican Funding | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 13 | 13 | 28 | 27 |
Regulated | MidAmerican Funding | Regulated interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | MidAmerican Funding | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | NV Energy, Inc. | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,097 | 1,114 | 2,002 | 2,107 |
Regulated | NV Energy, Inc. | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,031 | 1,043 | 1,813 | 1,891 |
Regulated | NV Energy, Inc. | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 34 | 43 | 119 | 139 |
Regulated | NV Energy, Inc. | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 12 | 9 | 30 | 40 |
Regulated | NV Energy, Inc. | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 19 | 19 | 39 | 37 |
Regulated | NV Energy, Inc. | Regulated interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | NV Energy, Inc. | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 0 | 1 | 0 |
Regulated | Northern Powergrid Holdings | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 354 | 244 | 620 | 525 |
Regulated | Northern Powergrid Holdings | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid Holdings | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid Holdings | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid Holdings | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 354 | 244 | 620 | 525 |
Regulated | Northern Powergrid Holdings | Regulated interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid Holdings | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 555 | 541 | 1,425 | 1,421 |
Regulated | BHE Pipeline Group | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Regulated interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 555 | 542 | 1,424 | 1,420 |
Regulated | BHE Pipeline Group | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | (1) | 1 | 1 |
Regulated | BHE Transmission | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 165 | 166 | 332 | 331 |
Regulated | BHE Transmission | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 165 | 166 | 332 | 331 |
Regulated | BHE Transmission | Regulated interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Regulated interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE and Other | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (27) | (25) | (73) | (82) |
Regulated | BHE and Other | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (1) | 0 | (1) | 0 |
Regulated | BHE and Other | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE and Other | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 2 | (1) | 1 |
Regulated | BHE and Other | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE and Other | Regulated interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (26) | (27) | (71) | (83) |
Regulated | BHE and Other | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Nonregulated | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 664 | 711 | 1,274 | 1,371 |
Nonregulated | PAC | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Nonregulated | MidAmerican Funding | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 1 | 2 | 4 |
Nonregulated | NV Energy, Inc. | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 0 | 3 | 1 |
Nonregulated | Northern Powergrid Holdings | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 26 | 33 | 49 | 78 |
Nonregulated | BHE Pipeline Group | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 274 | 270 | 531 | 536 |
Nonregulated | BHE Transmission | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 32 | 30 | 63 | 70 |
Nonregulated | BHE Renewables | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 330 | 376 | 626 | 681 |
Nonregulated | BHE and Other | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 0 | $ 1 | $ 0 | $ 1 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - BHE - Real Estate Services (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Real estate | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,289 | 1,296 | 2,155 | 2,171 |
HomeServices | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,289 | 1,296 | 2,155 | 2,171 |
HomeServices | Real estate | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,204 | 1,217 | 2,010 | 2,028 |
Other revenue | 85 | 79 | 145 | 143 |
Operating revenue | 1,289 | 1,296 | 2,155 | 2,171 |
HomeServices | Brokerage | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,190 | 1,202 | 1,984 | 2,001 |
HomeServices | Franchise | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 14 | $ 15 | $ 26 | $ 27 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - BHE - Remaining Performance Obligation Total (Details) - BHE Pipeline Group $ in Millions | Jun. 30, 2024 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied: | $ 22,422 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied: | $ 3,035 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied: | $ 19,387 |
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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Regulated | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,001 | 2,844 | 5,715 | 5,532 |
Regulated | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 50 | 89 | 168 | 280 |
Regulated | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 593 | 476 | 1,102 | 992 |
Regulated | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 30 | 23 | 57 | 57 |
PAC | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 13 | 11 | 18 | 15 |
Operating revenue | 1,489 | 1,327 | 3,037 | 2,811 |
PAC | Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,476 | 1,316 | 3,019 | 2,796 |
PAC | Regulated | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,392 | 1,232 | 2,839 | 2,581 |
PAC | Regulated | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 13 | 26 | 42 | 87 |
PAC | Regulated | Regulated transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 42 | 34 | 83 | 72 |
PAC | Regulated | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 29 | 24 | 55 | 56 |
PAC | Regulated | Residential | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 496 | 450 | 1,106 | 1,035 |
PAC | Regulated | Commercial | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 489 | 429 | 961 | 859 |
PAC | Regulated | Industrial | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 307 | 270 | 626 | 560 |
PAC | Regulated | Other retail | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 100 | $ 83 | $ 146 | $ 127 |
Revenue from Contracts with C_7
Revenue from Contracts with Customers - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 705 | 725 | 1,533 | 1,629 |
Other revenue | 25 | 34 | 40 | 50 |
Operating revenue | 730 | 759 | 1,573 | 1,679 |
MEC | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 2 | 4 | |
Regulated | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,001 | 2,844 | 5,715 | 5,532 |
Regulated | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 122 | 133 | 461 | 525 |
Regulated | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 50 | 89 | 168 | 280 |
Regulated | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 30 | 23 | 57 | 57 |
Regulated | MEC | Retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 667 | 659 | 1,406 | 1,446 |
Regulated | MEC | Retail | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 237 | 231 | 564 | 597 |
Regulated | MEC | Retail | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 102 | 103 | 238 | 256 |
Regulated | MEC | Retail | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 276 | 276 | 500 | 497 |
Regulated | MEC | Retail | Natural gas transportation services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 11 | 10 | 25 | 23 |
Regulated | MEC | Retail | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 41 | 39 | 79 | 73 |
Regulated | MEC | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 25 | 52 | 97 | 152 |
Regulated | MEC | Multi-value transmission projects | Multi-value transmission projects | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 13 | 13 | 28 | 27 |
Nonregulated | MEC | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | |||
Regulated electric | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 635 | 661 | 1,200 | 1,252 |
Regulated electric | Regulated | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 610 | 627 | 1,161 | 1,203 |
Other revenue | 25 | 34 | 39 | 49 |
Operating revenue | 635 | 661 | 1,200 | 1,252 |
Regulated electric | Regulated | MEC | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 579 | 569 | 1,064 | 1,060 |
Regulated electric | Regulated | MEC | Regulated retail electric | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 179 | 173 | 339 | 340 |
Regulated electric | Regulated | MEC | Regulated retail electric | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 86 | 86 | 158 | 161 |
Regulated electric | Regulated | MEC | Regulated retail electric | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 274 | 272 | 492 | 486 |
Regulated electric | Regulated | MEC | Regulated retail electric | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 40 | 38 | 75 | 73 |
Regulated electric | Regulated | MEC | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 18 | 45 | 69 | 116 |
Regulated electric | Regulated | MEC | Multi-value transmission projects | Multi-value transmission projects | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 13 | 13 | 28 | 27 |
Regulated natural gas | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 95 | 97 | 371 | 423 |
Regulated natural gas | Regulated | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 95 | 97 | 370 | 422 |
Other revenue | 0 | 0 | 1 | 1 |
Operating revenue | 95 | 97 | 371 | 423 |
Regulated natural gas | Regulated | MEC | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 88 | 90 | 342 | 386 |
Regulated natural gas | Regulated | MEC | Regulated retail gas | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 58 | 58 | 225 | 257 |
Regulated natural gas | Regulated | MEC | Regulated retail gas | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 16 | 17 | 80 | 95 |
Regulated natural gas | Regulated | MEC | Regulated retail gas | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 4 | 8 | 11 |
Regulated natural gas | Regulated | MEC | Regulated retail gas | Natural gas transportation services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 11 | 10 | 25 | 23 |
Regulated natural gas | Regulated | MEC | Regulated retail gas | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 4 | 0 |
Regulated natural gas | Regulated | MEC | Regulated wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 7 | 7 | 28 | 36 |
Other | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 0 | 1 | 2 | 4 |
Other | Nonregulated | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 1 | 2 | 4 |
Other revenue | 0 | 0 | 0 | 0 |
Operating revenue | 0 | 1 | 2 | 4 |
Other | Nonregulated | MEC | Other customer revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 0 | $ 1 | $ 2 | $ 4 |
Revenue from Contracts with C_8
Revenue from Contracts with Customers - NPC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Regulated | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,001 | 2,844 | 5,715 | 5,532 |
NPC | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 1 | 4 | 2 | 9 |
Operating revenue | 801 | 781 | 1,362 | 1,380 |
NPC | Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 800 | 777 | 1,360 | 1,371 |
NPC | Regulated | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 784 | 762 | 1,327 | 1,338 |
NPC | Regulated | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 16 | 15 | 33 | 33 |
NPC | Customer Revenue | Regulated | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 780 | 758 | 1,319 | 1,331 |
NPC | Customer Revenue | Regulated | Regulated retail electric | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 445 | 404 | 716 | 697 |
NPC | Customer Revenue | Regulated | Regulated retail electric | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 165 | 177 | 298 | 313 |
NPC | Customer Revenue | Regulated | Regulated retail electric | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 169 | 173 | 303 | 311 |
NPC | Customer Revenue | Regulated | Regulated retail electric | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 4 | 2 | 10 |
NPC | Distribution only service | Regulated | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 4 | $ 4 | $ 8 | $ 7 |
Revenue from Contracts with C_9
Revenue from Contracts with Customers - SPPC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
Regulated | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,001 | 2,844 | 5,715 | 5,532 |
Regulated | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 122 | 133 | 461 | 525 |
SPPC | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 0 | 1 | 0 | 1 |
Operating revenue | 296 | 337 | 642 | 737 |
SPPC | Regulated electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 0 | 0 | 0 | 0 |
Operating revenue | 262 | 293 | 522 | 597 |
SPPC | Regulated natural gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenue | 0 | 1 | 0 | 1 |
Operating revenue | 34 | 44 | 120 | 140 |
SPPC | Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 296 | 336 | 642 | 736 |
SPPC | Regulated | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 14 | 12 | 35 | 44 |
SPPC | Regulated | Regulated electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 262 | 293 | 522 | 597 |
SPPC | Regulated | Regulated electric | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 14 | 12 | 35 | 44 |
SPPC | Regulated | Regulated natural gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 34 | 43 | 120 | 139 |
SPPC | Regulated | Regulated natural gas | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
SPPC | Regulated | Total retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 282 | 324 | 607 | 692 |
SPPC | Regulated | Total retail | Regulated electric | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 248 | 281 | 487 | 553 |
SPPC | Regulated | Total retail | Regulated natural gas | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 34 | 43 | 120 | 139 |
SPPC | Regulated | Customer Revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 281 | 323 | 605 | 690 |
SPPC | Regulated | Customer Revenue | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 111 | 120 | 264 | 295 |
SPPC | Regulated | Customer Revenue | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 98 | 114 | 204 | 232 |
SPPC | Regulated | Customer Revenue | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 70 | 88 | 133 | 160 |
SPPC | Regulated | Customer Revenue | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 1 | 4 | 3 |
SPPC | Regulated | Customer Revenue | Regulated electric | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 247 | 280 | 485 | 551 |
SPPC | Regulated | Customer Revenue | Regulated electric | Regulated retail electric | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 90 | 95 | 190 | 210 |
SPPC | Regulated | Customer Revenue | Regulated electric | Regulated retail electric | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 90 | 102 | 172 | 193 |
SPPC | Regulated | Customer Revenue | Regulated electric | Regulated retail electric | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 65 | 82 | 120 | 145 |
SPPC | Regulated | Customer Revenue | Regulated electric | Regulated retail electric | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2 | 1 | 3 | 3 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 34 | 43 | 120 | 139 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Regulated retail gas | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 21 | 25 | 74 | 85 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Regulated retail gas | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 8 | 12 | 32 | 39 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Regulated retail gas | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 5 | 6 | 13 | 15 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Regulated retail gas | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 1 | 0 |
SPPC | Regulated | Distribution only service | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 2 | 2 |
SPPC | Regulated | Distribution only service | Regulated electric | Regulated retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 2 | 2 |
SPPC | Regulated | Distribution only service | Regulated natural gas | Regulated retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Revenue from Contracts with _10
Revenue from Contracts with Customers - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Revenue from External Customer [Line Items] | |||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 | |
EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 497 | 519 | 1,030 | 1,070 | |
Other revenue | 0 | 2 | 0 | 4 | |
Operating revenue | 497 | 521 | 1,030 | 1,074 | |
Contract liability | 30 | 30 | $ 40 | ||
Contract liability, revenue recognized | 13 | 49 | |||
Regulated | EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 280 | 293 | 610 | 627 | |
Nonregulated | EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 217 | 226 | 420 | 443 | |
Gas transmission and storage | Regulated | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 122 | 133 | 461 | 525 | |
Gas transmission and storage | Regulated | EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 280 | 294 | 609 | 626 | |
Other customer revenue | Regulated | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | 30 | 23 | 57 | 57 | |
Other customer revenue | Regulated | EEGH | |||||
Revenue from External Customer [Line Items] | |||||
Total Customer Revenue | $ 0 | $ (1) | $ 1 | $ 1 |
Revenue from Contracts with _11
Revenue from Contracts with Customers - EEGH - Remaining Performance Obligation (Details) - EEGH $ in Millions | Jun. 30, 2024 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied: | $ 15,846 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied: | $ 1,713 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied: | $ 14,133 |
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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Revenue from External Customer [Line Items] | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 |
EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 230 | 234 | 500 | 511 |
Other revenue | 0 | 2 | 0 | 3 |
Operating revenue | 230 | 236 | 500 | 514 |
Regulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 217 | 219 | 475 | 479 |
Nonregulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 13 | 15 | 25 | 32 |
Gas transmission | Regulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 145 | 151 | 333 | 342 |
Gas storage | Regulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 71 | 70 | 141 | 137 |
Other customer revenue | Regulated | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 30 | 23 | 57 | 57 |
Other customer revenue | Regulated | EGTS | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | $ 1 | $ (2) | $ 1 | $ 0 |
Revenue from Contracts with _13
Revenue from Contracts with Customers - EGTS - Remaining Performance Obligation (Details) - EGTS $ in Millions | Jun. 30, 2024 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied: | $ 4,030 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied: | $ 840 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied: | $ 3,190 |
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 | 6 Months Ended | |
Feb. 29, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | |
MEC | |||
Class of Stock [Line Items] | |||
Dividends paid | $ 425 | $ 425 | $ 100 |
Member's Equity - MidAmerican F
Member's Equity - MidAmerican Funding (Details) $ in Millions | 1 Months Ended |
Feb. 29, 2024 USD ($) | |
MidAmerican Funding, LLC | |
Class of Stock [Line Items] | |
Distribution paid to parent | $ 425 |
Components of Accumulated Oth_3
Components of Accumulated Other Comprehensive Loss, Net - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balance | $ 50,259 | $ 51,651 | $ 49,740 | $ 50,639 |
Other comprehensive income (loss) | (2) | 264 | (129) | 304 |
Ending balance | 51,206 | 52,960 | 51,206 | 52,960 |
Accumulated Other Comprehensive (Loss) Income, Net | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balance | (2,031) | (2,109) | (1,904) | (2,149) |
Other comprehensive income (loss) | (2) | 264 | (129) | 304 |
Ending balance | (2,033) | (1,845) | (2,033) | (1,845) |
Unrecognized Amounts on Retirement Benefits | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balance | (426) | (390) | ||
Other comprehensive income (loss) | 15 | (11) | ||
Ending balance | (411) | (401) | (411) | (401) |
Foreign Currency Translation Adjustment | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balance | (1,550) | (1,896) | ||
Other comprehensive income (loss) | (170) | 331 | ||
Ending balance | (1,720) | (1,565) | (1,720) | (1,565) |
Unrealized Losses on Cash Flow Hedges | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balance | 71 | 135 | ||
Other comprehensive income (loss) | 26 | (16) | ||
Ending balance | 97 | 119 | 97 | 119 |
Noncontrolling Interest | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balance | 1 | 2 | ||
Other comprehensive income (loss) | 0 | 0 | ||
Ending balance | $ 1 | $ 2 | $ 1 | $ 2 |
Components of Accumulated Oth_4
Components of Accumulated Other Comprehensive Loss, Net - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Beginning balance | $ 50,259 | $ 51,651 | $ 49,740 | $ 50,639 |
Other comprehensive (loss) income | (2) | 264 | (129) | 304 |
Ending balance | 51,206 | 52,960 | 51,206 | 52,960 |
EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Other comprehensive (loss) income | 3 | 7 | 4 | 4 |
Accumulated Other Comprehensive (Loss) Income, Net | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Beginning balance | (2,031) | (2,109) | (1,904) | (2,149) |
Other comprehensive (loss) income | (2) | 264 | (129) | 304 |
Ending balance | (2,033) | (1,845) | (2,033) | (1,845) |
Accumulated Other Comprehensive (Loss) Income, Net | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Beginning balance | (40) | (42) | ||
Other comprehensive (loss) income | 3 | 7 | 4 | 4 |
Ending balance | (36) | (38) | (36) | (38) |
Unrecognized Amounts on Retirement Benefits | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Beginning balance | (426) | (390) | ||
Other comprehensive (loss) income | 15 | (11) | ||
Ending balance | (411) | (401) | (411) | (401) |
Unrecognized Amounts on Retirement Benefits | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Beginning balance | (3) | (1) | ||
Other comprehensive (loss) income | 1 | (1) | ||
Ending balance | (2) | (2) | (2) | (2) |
Unrealized Losses on Cash Flow Hedges | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Beginning balance | 71 | 135 | ||
Other comprehensive (loss) income | 26 | (16) | ||
Ending balance | 97 | 119 | 97 | 119 |
Unrealized Losses on Cash Flow Hedges | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Beginning balance | (38) | (43) | ||
Other comprehensive (loss) income | 3 | 5 | ||
Ending balance | (35) | (38) | (35) | (38) |
Noncontrolling Interest | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Beginning balance | 1 | 2 | ||
Other comprehensive (loss) income | 0 | 0 | ||
Ending balance | 1 | 2 | 1 | 2 |
Noncontrolling Interest | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Beginning balance | (1) | (2) | ||
Other comprehensive (loss) income | 0 | 0 | ||
Ending balance | $ (1) | $ (2) | $ (1) | $ (2) |
Segment Information - BHE (Deta
Segment Information - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Segment Reporting Information [Line Items] | |||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 | |
Depreciation and amortization | 1,019 | 982 | 2,044 | 2,045 | |
Operating income (loss) | 855 | 1,046 | 1,750 | 1,713 | |
Interest expense | (675) | (599) | (1,366) | (1,185) | |
Capitalized interest | 50 | 33 | 96 | 57 | |
Allowance for equity funds | 92 | 61 | 175 | 110 | |
Interest and dividend income | 134 | 127 | 250 | 213 | |
Gains on marketable securities, net | 329 | 303 | 206 | 1,002 | |
Other, net | 25 | 78 | 56 | 118 | |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 | |
Total earnings on common shares | 954 | 1,066 | 1,607 | 2,047 | |
Assets | 141,138 | 141,138 | $ 137,840 | ||
PAC | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1,489 | 1,327 | 3,037 | 2,811 | |
Depreciation and amortization | 287 | 279 | 579 | 558 | |
Operating income (loss) | (114) | 131 | 41 | (36) | |
Interest expense | (185) | (134) | (377) | (258) | |
Total earnings on common shares | (76) | 107 | 38 | (13) | |
Assets | 35,733 | 35,733 | 33,757 | ||
MidAmerican Funding | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 730 | 759 | 1,573 | 1,679 | |
Depreciation and amortization | 228 | 226 | 455 | 460 | |
Operating income (loss) | 85 | 118 | 161 | 206 | |
Interest expense | (110) | (85) | (218) | (169) | |
Total earnings on common shares | 234 | 233 | 469 | 482 | |
Assets | 28,188 | 28,188 | 27,331 | ||
NV Energy, Inc. | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1,099 | 1,119 | 2,007 | 2,118 | |
Depreciation and amortization | 138 | 153 | 277 | 305 | |
Operating income (loss) | 155 | 117 | 216 | 174 | |
Interest expense | (72) | (64) | (145) | (127) | |
Total earnings on common shares | 109 | 90 | 136 | 124 | |
Assets | 18,195 | 18,195 | 17,788 | ||
Northern Powergrid Holdings | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 412 | 307 | 732 | 661 | |
Depreciation and amortization | 85 | 85 | 173 | 170 | |
Operating income (loss) | 225 | 121 | 355 | 267 | |
Interest expense | (34) | (30) | (68) | (60) | |
Total earnings on common shares | 149 | 96 | 235 | 107 | |
Assets | 9,823 | 9,823 | 9,596 | ||
BHE Pipeline Group | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 837 | 818 | 1,965 | 1,991 | |
Depreciation and amortization | 143 | 95 | 282 | 267 | |
Operating income (loss) | 334 | 368 | 998 | 952 | |
Interest expense | (43) | (39) | (83) | (78) | |
Total earnings on common shares | 234 | 187 | 733 | 556 | |
Assets | 21,749 | 21,749 | 21,723 | ||
BHE Transmission | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 198 | 192 | 396 | 397 | |
Depreciation and amortization | 58 | 65 | 116 | 126 | |
Operating income (loss) | 84 | 76 | 169 | 164 | |
Interest expense | (38) | (38) | (75) | (75) | |
Total earnings on common shares | 69 | 58 | 135 | 122 | |
Assets | 9,426 | 9,426 | 9,624 | ||
BHE Renewables | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 378 | 437 | 725 | 830 | |
Depreciation and amortization | 68 | 67 | 135 | 133 | |
Operating income (loss) | 59 | 89 | 40 | 20 | |
Interest expense | (34) | (43) | (69) | (88) | |
Total earnings on common shares | 138 | 206 | 239 | 285 | |
Assets | 10,918 | 10,918 | 11,045 | ||
HomeServices | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1,289 | 1,296 | 2,155 | 2,171 | |
Depreciation and amortization | 12 | 12 | 24 | 25 | |
Operating income (loss) | 49 | 46 | (171) | 1 | |
Interest expense | (2) | (4) | (6) | (8) | |
Total earnings on common shares | 43 | 34 | (116) | 0 | |
Assets | 3,601 | 3,601 | 3,407 | ||
BHE and Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | (28) | (26) | (75) | (83) | |
Depreciation and amortization | 0 | 0 | 3 | 1 | |
Operating income (loss) | (22) | (20) | (59) | (35) | |
Interest expense | (157) | (162) | (325) | (322) | |
Total earnings on common shares | 54 | 55 | (262) | 384 | |
Assets | 3,505 | 3,505 | $ 3,569 | ||
U.S. | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 5,816 | 5,749 | 11,430 | 11,564 | |
Income before income tax expense (benefit) and equity income (loss) | 568 | 914 | 779 | 1,733 | |
United Kingdom | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 406 | 295 | 719 | 628 | |
Income before income tax expense (benefit) and equity income (loss) | 191 | 93 | 293 | 206 | |
Canada | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 176 | 173 | 353 | 350 | |
Income before income tax expense (benefit) and equity income (loss) | 49 | 44 | 98 | 87 | |
Australia | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 5 | 12 | 10 | 33 | |
Income before income tax expense (benefit) and equity income (loss) | 3 | (3) | (1) | 2 | |
Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1 | 0 | 3 | 0 | |
Income before income tax expense (benefit) and equity income (loss) | $ (1) | $ 1 | $ (2) | $ 0 |
Segment Information - BHE - Goo
Segment Information - BHE - Goodwill (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2024 USD ($) | |
Goodwill [Roll Forward] | |
Beginning balance | $ 11,547 |
Foreign currency translation | (52) |
Other | (1) |
Ending balance | 11,494 |
PAC | |
Goodwill [Roll Forward] | |
Beginning balance | 1,129 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 1,129 |
MidAmerican Funding | |
Goodwill [Roll Forward] | |
Beginning balance | 2,102 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 2,102 |
NV Energy, Inc. | |
Goodwill [Roll Forward] | |
Beginning balance | 2,369 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 2,369 |
Northern Powergrid Holdings | |
Goodwill [Roll Forward] | |
Beginning balance | 950 |
Foreign currency translation | (4) |
Other | 0 |
Ending balance | 946 |
BHE Pipeline Group | |
Goodwill [Roll Forward] | |
Beginning balance | 1,814 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 1,814 |
BHE Transmission | |
Goodwill [Roll Forward] | |
Beginning balance | 1,492 |
Foreign currency translation | (48) |
Other | 0 |
Ending balance | 1,444 |
BHE Renewables | |
Goodwill [Roll Forward] | |
Beginning balance | 95 |
Foreign currency translation | 0 |
Other | 0 |
Ending balance | 95 |
HomeServices | |
Goodwill [Roll Forward] | |
Beginning balance | 1,596 |
Foreign currency translation | 0 |
Other | (1) |
Ending balance | $ 1,595 |
Segment Information - MEC (Deta
Segment Information - MEC (Details) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) operatingSegment reportableSegment | Jun. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | operatingSegment | 8 | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 | |
Operating income (loss) | 855 | 1,046 | 1,750 | 1,713 | |
Interest expense | (675) | (599) | (1,366) | (1,185) | |
Allowance for equity funds | 92 | 61 | 175 | 110 | |
Other, net | 25 | 78 | 56 | 118 | |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 | |
Assets | 141,138 | $ 141,138 | $ 137,840 | ||
MEC | |||||
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | reportableSegment | 2 | ||||
Operating revenue | 730 | 759 | $ 1,573 | 1,679 | |
Operating income (loss) | 85 | 118 | 161 | 206 | |
Interest expense | (105) | (81) | (209) | (161) | |
Allowance for borrowed funds | 7 | 4 | 13 | 8 | |
Allowance for equity funds | 18 | 13 | 34 | 24 | |
Other, net | 19 | 15 | 44 | 31 | |
Income before income tax expense (benefit) and equity income (loss) | 24 | 69 | 43 | 108 | |
Assets | 26,093 | 26,093 | 25,235 | ||
MEC | Regulated electric | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 635 | 661 | 1,200 | 1,252 | |
Operating income (loss) | 79 | 120 | 110 | 170 | |
Assets | 23,657 | 23,657 | 23,334 | ||
MEC | Regulated natural gas | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 95 | 97 | 371 | 423 | |
Operating income (loss) | 6 | (2) | 51 | 36 | |
Assets | 2,435 | 2,435 | 1,900 | ||
MEC | Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 0 | $ 1 | 2 | $ 4 | |
Assets | $ 1 | $ 1 | $ 1 |
Segment Information - LLC (Deta
Segment Information - LLC (Details) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) operatingSegment reportableSegment | Jun. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | operatingSegment | 8 | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 | |
Operating income (loss) | 855 | 1,046 | 1,750 | 1,713 | |
Interest expense | (675) | (599) | (1,366) | (1,185) | |
Allowance for equity funds | 92 | 61 | 175 | 110 | |
Other, net | 25 | 78 | 56 | 118 | |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 | |
Assets | 141,138 | $ 141,138 | $ 137,840 | ||
MidAmerican Funding, LLC | |||||
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | reportableSegment | 2 | ||||
Operating revenue | 730 | 759 | $ 1,573 | 1,679 | |
Operating income (loss) | 85 | 118 | 161 | 206 | |
Interest expense | (110) | (85) | (218) | (169) | |
Allowance for borrowed funds | 7 | 4 | 13 | 8 | |
Allowance for equity funds | 18 | 13 | 34 | 24 | |
Other, net | 20 | 15 | 45 | 43 | |
Income before income tax expense (benefit) and equity income (loss) | 20 | 65 | 35 | 112 | |
Assets | 27,368 | 27,368 | 26,509 | ||
MidAmerican Funding, LLC | Regulated electric | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 635 | 661 | 1,200 | 1,252 | |
Operating income (loss) | 79 | 120 | 110 | 170 | |
Assets | 24,848 | 24,848 | 24,525 | ||
MidAmerican Funding, LLC | Regulated natural gas | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 95 | 97 | 371 | 423 | |
Operating income (loss) | 6 | (2) | 51 | 36 | |
Assets | 2,514 | 2,514 | 1,979 | ||
MidAmerican Funding, LLC | Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 0 | $ 1 | 2 | $ 4 | |
Assets | $ 6 | $ 6 | $ 5 |
Segment Information - SPPC (Det
Segment Information - SPPC (Details) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) operatingSegment reportableSegment | Jun. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | operatingSegment | 8 | ||||
Operating revenue | $ 6,404 | $ 6,229 | $ 12,515 | $ 12,575 | |
Operating income (loss) | 855 | 1,046 | 1,750 | 1,713 | |
Interest expense | (675) | (599) | (1,366) | (1,185) | |
Allowance for equity funds | 92 | 61 | 175 | 110 | |
Interest and dividend income | 134 | 127 | 250 | 213 | |
Other, net | 25 | 78 | 56 | 118 | |
Income before income tax expense (benefit) and equity income (loss) | 810 | 1,049 | 1,167 | 2,028 | |
Assets | 141,138 | $ 141,138 | $ 137,840 | ||
SPPC | |||||
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | reportableSegment | 2 | ||||
Operating revenue | 296 | 337 | $ 642 | 737 | |
Operating income (loss) | 20 | 26 | 39 | 61 | |
Interest expense | (22) | (15) | (42) | (31) | |
Capitalized interest | 2 | 3 | 3 | 5 | |
Allowance for equity funds | 6 | 3 | 10 | 5 | |
Interest and dividend income | 5 | 5 | 9 | 12 | |
Other, net | 2 | 1 | 5 | 2 | |
Income before income tax expense (benefit) and equity income (loss) | 13 | 23 | 24 | 54 | |
Assets | 4,951 | 4,951 | 4,772 | ||
SPPC | Regulated electric | |||||
Segment Reporting Information [Line Items] | |||||
Regulated electric | 262 | 293 | 522 | 597 | |
Operating revenue | 262 | 293 | 522 | 597 | |
Operating income (loss) | 22 | 23 | 34 | 48 | |
Assets | 4,408 | 4,408 | 4,251 | ||
SPPC | Regulated natural gas | |||||
Segment Reporting Information [Line Items] | |||||
Regulated natural gas | 34 | 44 | 120 | 140 | |
Operating revenue | 34 | 44 | 120 | 140 | |
Operating income (loss) | (2) | $ 3 | 5 | $ 13 | |
Assets | 450 | 450 | 454 | ||
SPPC | Other | |||||
Segment Reporting Information [Line Items] | |||||
Assets | $ 93 | $ 93 | $ 67 |