Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 04, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-14881 | |
Entity Registrant Name | BERKSHIRE HATHAWAY ENERGY COMPANY | |
Entity Tax Identification Number | 94-2213782 | |
Entity Incorporation, State or Country Code | IA | |
Entity Address, Address Line One | 666 Grand Avenue | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309-2580 | |
City Area Code | 515 | |
Local Phone Number | 242-4300 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 75,627,913 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Entity Central Index Key | 0001081316 | |
Current Fiscal Year End Date | --12-31 | |
PAC | ||
Document Information [Line Items] | ||
Entity File Number | 001-05152 | |
Entity Registrant Name | PACIFICORP | |
Entity Tax Identification Number | 93-0246090 | |
Entity Incorporation, State or Country Code | OR | |
Entity Address, Address Line One | 825 N.E. Multnomah Street | |
Entity Address, Address Line Two | Suite 1900 | |
Entity Address, City or Town | Portland | |
Entity Address, State or Province | OR | |
Entity Address, Postal Zip Code | 97232 | |
City Area Code | 888 | |
Local Phone Number | 221-7070 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 357,060,915 | |
Entity Central Index Key | 0000075594 | |
MidAmerican Funding, LLC | ||
Document Information [Line Items] | ||
Entity File Number | 333-90553 | |
Entity Registrant Name | MIDAMERICAN FUNDING, LLC | |
Entity Tax Identification Number | 47-0819200 | |
Entity Incorporation, State or Country Code | IA | |
Entity Address, Address Line One | 666 Grand Avenue | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309-2580 | |
City Area Code | 515 | |
Local Phone Number | 242-4300 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Central Index Key | 0001098296 | |
MEC | ||
Document Information [Line Items] | ||
Entity File Number | 333-15387 | |
Entity Registrant Name | MIDAMERICAN ENERGY COMPANY | |
Entity Tax Identification Number | 42-1425214 | |
Entity Incorporation, State or Country Code | IA | |
Entity Address, Address Line One | 666 Grand Avenue | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309-2580 | |
City Area Code | 515 | |
Local Phone Number | 242-4300 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 70,980,203 | |
Entity Central Index Key | 0000928576 | |
NPC | ||
Document Information [Line Items] | ||
Entity File Number | 000-52378 | |
Entity Registrant Name | NEVADA POWER COMPANY | |
Entity Tax Identification Number | 88-0420104 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 6226 West Sahara Avenue | |
Entity Address, City or Town | Las Vegas | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89146 | |
City Area Code | 702 | |
Local Phone Number | 402-5000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,000 | |
Entity Central Index Key | 0000071180 | |
SPPC | ||
Document Information [Line Items] | ||
Entity File Number | 000-00508 | |
Entity Registrant Name | SIERRA PACIFIC POWER COMPANY | |
Entity Tax Identification Number | 88-0044418 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 6100 Neil Road | |
Entity Address, City or Town | Reno | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89511 | |
City Area Code | 775 | |
Local Phone Number | 834-4011 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,000 | |
Entity Central Index Key | 0000090144 | |
EEGH | ||
Document Information [Line Items] | ||
Entity File Number | 001-37591 | |
Entity Registrant Name | EASTERN ENERGY GAS HOLDINGS, LLC | |
Entity Tax Identification Number | 46-3639580 | |
Entity Incorporation, State or Country Code | VA | |
Entity Address, Address Line One | 6603 West Broad Street | |
Entity Address, City or Town | Richmond | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23230 | |
City Area Code | 804 | |
Local Phone Number | 613-5100 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Central Index Key | 0001603291 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 2,081 | $ 1,096 |
Restricted cash and cash equivalents | 201 | 127 |
Trade receivables, net | 2,734 | 2,468 |
Income tax receivable | 25 | 344 |
Inventories | 1,163 | 1,122 |
Mortgage loans held for sale | 1,084 | 1,263 |
Regulatory assets | 778 | 544 |
Other current assets | 1,294 | 1,284 |
Total current assets | 9,360 | 8,248 |
Property, plant and equipment, net | 90,795 | 89,816 |
Goodwill | 11,559 | 11,650 |
Regulatory assets | 3,481 | 3,419 |
Investments and restricted cash, cash equivalents and investments | 16,728 | 15,788 |
Other assets | 3,372 | 3,144 |
Total assets | 135,295 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,290 | 2,136 |
Accrued interest | 557 | 537 |
Accrued property, income and other taxes | 789 | 606 |
Accrued employee expenses | 457 | 372 |
Short-term debt | 1,948 | 2,009 |
Current portion of long-term debt | 2,069 | 1,265 |
Other current liabilities | 1,802 | 1,837 |
Total current liabilities | 9,912 | 8,762 |
BHE senior debt | 13,594 | 13,003 |
BHE junior subordinated debentures | 100 | 100 |
Subsidiary debt | 35,354 | 35,394 |
Regulatory liabilities | 7,028 | 6,960 |
Deferred income taxes | 13,394 | 12,938 |
Other long-term liabilities | 4,722 | 4,319 |
Total liabilities | 84,104 | 81,476 |
Commitments and contingencies | ||
BHE shareholders' equity: | ||
Preferred stock | 850 | 1,650 |
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Long-term income tax receivable | (744) | (744) |
Retained earnings | 42,688 | 40,754 |
Accumulated other comprehensive loss, net | (1,788) | (1,340) |
Total shareholder's equity, parent | 47,304 | 46,694 |
Noncontrolling interests | 3,887 | 3,895 |
Total equity | 51,191 | 50,589 |
Total liabilities and equity | $ 135,295 | $ 132,065 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred stock, shares authorized | 100 | 100 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares issued | 1 | 2 |
Preferred stock, shares outstanding | 1 | 2 |
Common stock, shares authorized | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 76 | 76 |
Common stock, shares outstanding | 76 | 76 |
Consolidated Balance Sheets (_3
Consolidated Balance Sheets (Unaudited) - PAC - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 2,081 | $ 1,096 |
Inventories | 1,163 | 1,122 |
Regulatory assets | 778 | 544 |
Other current assets | 1,294 | 1,284 |
Total current assets | 9,360 | 8,248 |
Regulatory assets | 3,481 | 3,419 |
Other assets | 3,372 | 3,144 |
Total assets | 135,295 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,290 | 2,136 |
Accrued interest | 557 | 537 |
Accrued property, income and other taxes | 789 | 606 |
Accrued employee expenses | 457 | 372 |
Current portion of long-term debt | 2,069 | 1,265 |
Other current liabilities | 1,802 | 1,837 |
Total current liabilities | 9,912 | 8,762 |
Regulatory liabilities | 7,028 | 6,960 |
Deferred income taxes | 13,394 | 12,938 |
Other long-term liabilities | 4,722 | 4,319 |
Total liabilities | 84,104 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 850 | 1,650 |
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 42,688 | 40,754 |
Accumulated other comprehensive loss, net | (1,788) | (1,340) |
Total shareholder's equity, parent | 47,304 | 46,694 |
Total liabilities and equity | 135,295 | 132,065 |
PAC | ||
Current assets: | ||
Cash and cash equivalents | 390 | 179 |
Trade receivables, net | 730 | 725 |
Other receivables | 49 | 52 |
Inventories | 490 | 474 |
Derivative contracts | 127 | 76 |
Regulatory assets | 150 | 65 |
Other current assets | 83 | 150 |
Total current assets | 2,019 | 1,721 |
Property, plant and equipment, net | 23,414 | 22,914 |
Regulatory assets | 1,257 | 1,287 |
Other assets | 750 | 534 |
Total assets | 27,440 | 26,456 |
Current liabilities: | ||
Accounts payable | 848 | 680 |
Accrued interest | 122 | 121 |
Accrued property, income and other taxes | 189 | 78 |
Accrued employee expenses | 117 | 89 |
Current portion of long-term debt | 455 | 155 |
Regulatory liabilities | 115 | 118 |
Other current liabilities | 195 | 219 |
Total current liabilities | 2,041 | 1,460 |
Long-term debt | 8,268 | 8,575 |
Regulatory liabilities | 2,833 | 2,650 |
Deferred income taxes | 2,908 | 2,847 |
Other long-term liabilities | 1,364 | 1,011 |
Total liabilities | 17,414 | 16,543 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 2 | 2 |
Common stock | 0 | 0 |
Additional paid-in capital | 4,479 | 4,479 |
Retained earnings | 5,561 | 5,449 |
Accumulated other comprehensive loss, net | (16) | (17) |
Total shareholder's equity, parent | 10,026 | 9,913 |
Total liabilities and equity | $ 27,440 | $ 26,456 |
Consolidated Balance Sheets (_4
Consolidated Balance Sheets (Unaudited) - PAC (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Common stock, shares authorized | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 76 | 76 |
Common stock, shares outstanding | 76 | 76 |
PAC | ||
Common stock, shares authorized | 750 | 750 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 357 | 357 |
Common stock, shares outstanding | 357 | 357 |
Balance Sheets (Unaudited) - ME
Balance Sheets (Unaudited) - MEC - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 2,081 | $ 1,096 |
Income tax receivable | 25 | 344 |
Inventories | 1,163 | 1,122 |
Other current assets | 1,294 | 1,284 |
Total current assets | 9,360 | 8,248 |
Regulatory assets | 3,481 | 3,419 |
Investments and restricted cash, cash equivalents and investments | 16,728 | 15,788 |
Other assets | 3,372 | 3,144 |
Total assets | 135,295 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,290 | 2,136 |
Accrued interest | 557 | 537 |
Accrued property, income and other taxes | 789 | 606 |
Current portion of long-term debt | 2,069 | 1,265 |
Other current liabilities | 1,802 | 1,837 |
Total current liabilities | 9,912 | 8,762 |
Regulatory liabilities | 7,028 | 6,960 |
Deferred income taxes | 13,394 | 12,938 |
Other long-term liabilities | 4,722 | 4,319 |
Total liabilities | 84,104 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 42,688 | 40,754 |
Total shareholder's equity, parent | 47,304 | 46,694 |
Total liabilities and equity | 135,295 | 132,065 |
MEC | ||
Current assets: | ||
Cash and cash equivalents | 495 | 232 |
Trade receivables, net | 525 | 526 |
Income tax receivable | 19 | 79 |
Inventories | 226 | 234 |
Other current assets | 186 | 123 |
Total current assets | 1,451 | 1,194 |
Property, plant and equipment, net | 20,504 | 20,301 |
Regulatory assets | 509 | 473 |
Investments and restricted cash, cash equivalents and investments | 893 | 1,026 |
Other assets | 278 | 263 |
Total assets | 23,635 | 23,257 |
Current liabilities: | ||
Accounts payable | 415 | 531 |
Accrued interest | 84 | 84 |
Accrued property, income and other taxes | 206 | 158 |
Current portion of long-term debt | 64 | 0 |
Other current liabilities | 181 | 145 |
Total current liabilities | 950 | 918 |
Long-term debt | 7,661 | 7,721 |
Regulatory liabilities | 1,026 | 1,080 |
Deferred income taxes | 3,413 | 3,389 |
Asset retirement obligations | 698 | 714 |
Other long-term liabilities | 476 | 475 |
Total liabilities | 14,224 | 14,297 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 561 | 561 |
Retained earnings | 8,850 | 8,399 |
Total shareholder's equity, parent | 9,411 | 8,960 |
Total liabilities and equity | $ 23,635 | $ 23,257 |
Balance Sheets (Unaudited) - _2
Balance Sheets (Unaudited) - MEC (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Common stock, shares authorized | 115 | 115 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 76 | 76 |
Common stock, shares outstanding | 76 | 76 |
MEC | ||
Common stock, shares authorized | 350 | 350 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 71 | 71 |
Common stock, shares outstanding | 71 | 71 |
Consolidated Balance Sheets (_5
Consolidated Balance Sheets (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 2,081 | $ 1,096 |
Income tax receivable | 25 | 344 |
Inventories | 1,163 | 1,122 |
Other current assets | 1,294 | 1,284 |
Total current assets | 9,360 | 8,248 |
Property, plant and equipment, net | 90,795 | 89,816 |
Goodwill | 11,559 | 11,650 |
Regulatory assets | 3,481 | 3,419 |
Investments and restricted cash, cash equivalents and investments | 16,728 | 15,788 |
Other assets | 3,372 | 3,144 |
Total assets | 135,295 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,290 | 2,136 |
Accrued interest | 557 | 537 |
Accrued property, income and other taxes | 789 | 606 |
Current portion of long-term debt | 2,069 | 1,265 |
Other current liabilities | 1,802 | 1,837 |
Total current liabilities | 9,912 | 8,762 |
Regulatory liabilities | 7,028 | 6,960 |
Deferred income taxes | 13,394 | 12,938 |
Other long-term liabilities | 4,722 | 4,319 |
Total liabilities | 84,104 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 42,688 | 40,754 |
Total shareholder's equity, parent | 47,304 | 46,694 |
Total liabilities and equity | 135,295 | 132,065 |
MidAmerican Funding, LLC | ||
Current assets: | ||
Cash and cash equivalents | 497 | 233 |
Trade receivables, net | 525 | 526 |
Income tax receivable | 20 | 80 |
Inventories | 226 | 234 |
Other current assets | 187 | 123 |
Total current assets | 1,455 | 1,196 |
Property, plant and equipment, net | 20,505 | 20,302 |
Goodwill | 1,270 | 1,270 |
Regulatory assets | 509 | 473 |
Investments and restricted cash, cash equivalents and investments | 895 | 1,028 |
Other assets | 277 | 262 |
Total assets | 24,911 | 24,531 |
Current liabilities: | ||
Accounts payable | 415 | 531 |
Accrued interest | 89 | 89 |
Accrued property, income and other taxes | 206 | 158 |
Notes payable | 197 | 189 |
Current portion of long-term debt | 64 | 0 |
Other current liabilities | 181 | 146 |
Total current liabilities | 1,152 | 1,113 |
Long-term debt | 7,901 | 7,961 |
Regulatory liabilities | 1,026 | 1,080 |
Deferred income taxes | 3,411 | 3,387 |
Asset retirement obligations | 698 | 714 |
Other long-term liabilities | 477 | 475 |
Total liabilities | 14,665 | 14,730 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 1,679 | 1,679 |
Retained earnings | 8,567 | 8,122 |
Total shareholder's equity, parent | 10,246 | 9,801 |
Total liabilities and equity | $ 24,911 | $ 24,531 |
Consolidated Balance Sheets (_6
Consolidated Balance Sheets (Unaudited) - NPC - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 2,081 | $ 1,096 |
Inventories | 1,163 | 1,122 |
Regulatory assets | 778 | 544 |
Other current assets | 1,294 | 1,284 |
Total current assets | 9,360 | 8,248 |
Regulatory assets | 3,481 | 3,419 |
Other assets | 3,372 | 3,144 |
Total assets | 135,295 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,290 | 2,136 |
Accrued interest | 557 | 537 |
Short-term debt | 1,948 | 2,009 |
Other current liabilities | 1,802 | 1,837 |
Total current liabilities | 9,912 | 8,762 |
Regulatory liabilities | 7,028 | 6,960 |
Deferred income taxes | 13,394 | 12,938 |
Other long-term liabilities | 4,722 | 4,319 |
Total liabilities | 84,104 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 42,688 | 40,754 |
Accumulated other comprehensive loss, net | (1,788) | (1,340) |
Total shareholder's equity, parent | 47,304 | 46,694 |
Total liabilities and equity | 135,295 | 132,065 |
NPC | ||
Current assets: | ||
Cash and cash equivalents | 42 | 33 |
Trade receivables, net | 369 | 227 |
Inventories | 68 | 64 |
Regulatory assets | 401 | 291 |
Other current assets | 62 | 86 |
Total current assets | 942 | 701 |
Property, plant and equipment, net | 7,115 | 6,891 |
Regulatory assets | 748 | 728 |
Other assets | 414 | 432 |
Total assets | 9,219 | 8,752 |
Current liabilities: | ||
Accounts payable | 433 | 242 |
Accrued interest | 33 | 32 |
Short-term debt | 0 | 180 |
Regulatory liabilities | 46 | 49 |
Customer deposits | 44 | 44 |
Derivative contracts | 122 | 55 |
Other current liabilities | 91 | 91 |
Total current liabilities | 769 | 693 |
Long-term debt | 2,800 | 2,499 |
Finance lease obligations | 302 | 310 |
Regulatory liabilities | 1,075 | 1,100 |
Deferred income taxes | 816 | 782 |
Other long-term liabilities | 328 | 338 |
Total liabilities | 6,090 | 5,722 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 2,333 | 2,308 |
Retained earnings | 798 | 724 |
Accumulated other comprehensive loss, net | (2) | (2) |
Total shareholder's equity, parent | 3,129 | 3,030 |
Total liabilities and equity | $ 9,219 | $ 8,752 |
Consolidated Balance Sheets (_7
Consolidated Balance Sheets (Unaudited) - NPC (Parenthetical) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Common stock, shares authorized | 115,000,000 | 115,000,000 |
Common stock, shares issued | 76,000,000 | 76,000,000 |
Common stock, shares outstanding | 76,000,000 | 76,000,000 |
NPC | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 1,000 | 1,000 |
Common stock, shares outstanding | 1,000 | 1,000 |
Consolidated Balance Sheets (_8
Consolidated Balance Sheets (Unaudited) - SPPC - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 2,081 | $ 1,096 |
Inventories | 1,163 | 1,122 |
Regulatory assets | 778 | 544 |
Other current assets | 1,294 | 1,284 |
Total current assets | 9,360 | 8,248 |
Regulatory assets | 3,481 | 3,419 |
Other assets | 3,372 | 3,144 |
Total assets | 135,295 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,290 | 2,136 |
Accrued property, income and other taxes | 789 | 606 |
Short-term debt | 1,948 | 2,009 |
Other current liabilities | 1,802 | 1,837 |
Total current liabilities | 9,912 | 8,762 |
Regulatory liabilities | 7,028 | 6,960 |
Deferred income taxes | 13,394 | 12,938 |
Other long-term liabilities | 4,722 | 4,319 |
Total liabilities | 84,104 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 42,688 | 40,754 |
Accumulated other comprehensive loss, net | (1,788) | (1,340) |
Total shareholder's equity, parent | 47,304 | 46,694 |
Total liabilities and equity | 135,295 | 132,065 |
SPPC | ||
Current assets: | ||
Cash and cash equivalents | 17 | 10 |
Trade receivables, net | 127 | 128 |
Inventories | 75 | 65 |
Regulatory assets | 207 | 177 |
Other current assets | 25 | 35 |
Total current assets | 451 | 415 |
Property, plant and equipment, net | 3,476 | 3,340 |
Regulatory assets | 282 | 263 |
Other assets | 206 | 205 |
Total assets | 4,415 | 4,223 |
Current liabilities: | ||
Accounts payable | 177 | 147 |
Accrued property, income and other taxes | 18 | 16 |
Short-term debt | 0 | 159 |
Regulatory liabilities | 18 | 19 |
Customer deposits | 16 | 15 |
Derivative contracts | 38 | 16 |
Other current liabilities | 48 | 42 |
Total current liabilities | 315 | 414 |
Long-term debt, carrying value | 1,148 | 1,164 |
Regulatory liabilities | 435 | 444 |
Deferred income taxes | 413 | 402 |
Other long-term liabilities | 258 | 264 |
Total liabilities | 2,569 | 2,688 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 1,451 | 1,111 |
Retained earnings | 396 | 425 |
Accumulated other comprehensive loss, net | (1) | (1) |
Total shareholder's equity, parent | 1,846 | 1,535 |
Total liabilities and equity | $ 4,415 | $ 4,223 |
Consolidated Balance Sheets (_9
Consolidated Balance Sheets (Unaudited) - SPPC (Parenthetical) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Common stock, shares authorized | 115,000,000 | 115,000,000 |
Common stock, shares issued | 76,000,000 | 76,000,000 |
Common stock, shares outstanding | 76,000,000 | 76,000,000 |
SPPC | ||
Common stock, par value (in dollars per share) | $ 3.75 | $ 3.75 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 1,000 | 1,000 |
Common stock, shares outstanding | 1,000 | 1,000 |
Consolidated Balance Sheets _10
Consolidated Balance Sheets (Unaudited) - EEGH - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 2,081 | $ 1,096 |
Trade receivables, net | 2,734 | 2,468 |
Inventories | 1,163 | 1,122 |
Natural gas imbalances | 778 | 544 |
Other current assets | 1,294 | 1,284 |
Total current assets | 9,360 | 8,248 |
Property, plant and equipment, net | 90,795 | 89,816 |
Goodwill | 11,559 | 11,650 |
Investments | 16,728 | 15,788 |
Other assets | 3,372 | 3,144 |
Total assets | 135,295 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,290 | 2,136 |
Accrued interest | 557 | 537 |
Accrued property, income and other taxes | 789 | 606 |
Current portion of long-term debt | 2,069 | 1,265 |
Other current liabilities | 1,802 | 1,837 |
Total current liabilities | 9,912 | 8,762 |
Regulatory liabilities | 7,028 | 6,960 |
Other long-term liabilities | 4,722 | 4,319 |
Total liabilities | 84,104 | 81,476 |
Commitments and contingencies | ||
Member's equity: | ||
Accumulated other comprehensive loss, net | (1,788) | (1,340) |
Total liabilities and equity | 135,295 | 132,065 |
EEGH | ||
Current assets: | ||
Cash and cash equivalents | 106 | 22 |
Trade receivables, net | 174 | 183 |
Receivables from affiliates | 26 | 47 |
Notes receivable from affiliates | 198 | 7 |
Inventories | 127 | 122 |
Natural gas imbalances | 194 | 100 |
Other current assets | 126 | 140 |
Total current assets | 951 | 621 |
Property, plant and equipment, net | 10,131 | 10,200 |
Goodwill | 1,286 | 1,286 |
Investments | 419 | 412 |
Other assets | 140 | 129 |
Total assets | 12,927 | 12,648 |
Current liabilities: | ||
Accounts payable | 45 | 79 |
Accounts payable to affiliates | 20 | 38 |
Accrued interest | 14 | 19 |
Accrued property, income and other taxes | 78 | 89 |
Regulatory liabilities | 49 | 40 |
Current portion of long-term debt | 250 | 0 |
Other current liabilities | 187 | 100 |
Total current liabilities | 643 | 365 |
Long-term debt | 3,636 | 3,906 |
Regulatory liabilities | 640 | 645 |
Other long-term liabilities | 291 | 238 |
Total liabilities | 5,210 | 5,154 |
Commitments and contingencies | ||
Member's equity: | ||
Membership interests | 3,733 | 3,501 |
Accumulated other comprehensive loss, net | (39) | (43) |
Total member's equity | 3,694 | 3,458 |
Noncontrolling interests | 4,023 | 4,036 |
Total equity | 7,717 | 7,494 |
Total liabilities and equity | $ 12,927 | $ 12,648 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Operating revenue: | ||||
Total operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 |
Energy: | ||||
Cost of sales | 1,525 | 1,110 | 2,985 | 2,679 |
Operations and maintenance | 1,081 | 1,037 | 2,024 | 1,971 |
Depreciation and amortization | 1,045 | 936 | 2,052 | 1,851 |
Property and other taxes | 199 | 189 | 404 | 399 |
Real estate | 1,555 | 1,584 | 2,734 | 2,704 |
Total operating expenses | 5,405 | 4,856 | 10,199 | 9,604 |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 |
Other income (expense): | ||||
Interest expense | (550) | (532) | (1,082) | (1,062) |
Capitalized interest | 18 | 14 | 35 | 28 |
Allowance for equity funds | 42 | 30 | 80 | 56 |
Interest and dividend income | 30 | 26 | 53 | 47 |
Gains on marketable securities, net | 2,528 | 1,966 | 1,271 | 848 |
Other, net | (26) | 48 | (21) | 56 |
Total other income (expense) | 2,042 | 1,552 | 336 | (27) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 |
Income tax expense (benefit) | 149 | 327 | (358) | (208) |
Equity loss | (83) | (50) | (140) | (229) |
Net income | 3,017 | 2,383 | 2,997 | 2,493 |
Net income attributable to noncontrolling interests | 120 | 102 | 229 | 208 |
Net income (loss) attributable to parent | 2,897 | 2,281 | 2,768 | 2,285 |
Preferred dividends | 13 | 37 | 29 | 75 |
Earnings on common shares | 2,884 | 2,244 | 2,739 | 2,210 |
Energy | ||||
Operating revenue: | ||||
Total operating revenue | 4,940 | 4,301 | 9,763 | 9,150 |
Real estate | ||||
Operating revenue: | ||||
Total operating revenue | $ 1,672 | $ 1,763 | $ 2,879 | $ 2,995 |
Consolidated Statements of Op_2
Consolidated Statements of Operations (Unaudited) - PAC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 |
Operating expenses: | ||||
Cost of sales | 1,525 | 1,110 | 2,985 | 2,679 |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 |
Other income (expense): | ||||
Interest expense | (550) | (532) | (1,082) | (1,062) |
Allowance for borrowed funds | 18 | 14 | 35 | 28 |
Allowance for equity funds | 42 | 30 | 80 | 56 |
Interest and dividend income | 30 | 26 | 53 | 47 |
Other, net | (26) | 48 | (21) | 56 |
Total other income (expense) | 2,042 | 1,552 | 336 | (27) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 |
Income tax expense (benefit) | 149 | 327 | (358) | (208) |
Net income (loss) attributable to parent | 2,897 | 2,281 | 2,768 | 2,285 |
PAC | ||||
Operating revenue | 1,314 | 1,298 | 2,611 | 2,540 |
Operating expenses: | ||||
Cost of sales | 451 | 441 | 916 | 865 |
Operations and maintenance | 375 | 255 | 652 | 514 |
Depreciation and amortization | 279 | 275 | 559 | 539 |
Property and other taxes | 51 | 43 | 110 | 104 |
Total operating expenses | 1,156 | 1,014 | 2,237 | 2,022 |
Operating income | 158 | 284 | 374 | 518 |
Other income (expense): | ||||
Interest expense | (107) | (105) | (213) | (212) |
Allowance for borrowed funds | 6 | 6 | 12 | 12 |
Allowance for equity funds | 15 | 12 | 28 | 25 |
Interest and dividend income | 7 | 5 | 14 | 11 |
Other, net | (5) | 4 | (9) | 10 |
Total other income (expense) | (84) | (78) | (168) | (154) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 74 | 206 | 206 | 364 |
Income tax expense (benefit) | (8) | (19) | (6) | (30) |
Net income (loss) attributable to parent | $ 82 | $ 225 | $ 212 | $ 394 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - MEC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Operating revenue: | ||||
Total operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 |
Operating expenses: | ||||
Cost of sales | 1,525 | 1,110 | 2,985 | 2,679 |
Total operating expenses | 5,405 | 4,856 | 10,199 | 9,604 |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 |
Other income (expense): | ||||
Interest expense | (550) | (532) | (1,082) | (1,062) |
Allowance for equity funds | 42 | 30 | 80 | 56 |
Other, net | (26) | 48 | (21) | 56 |
Total other income (expense) | 2,042 | 1,552 | 336 | (27) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 |
Income tax expense (benefit) | 149 | 327 | (358) | (208) |
Net income (loss) attributable to parent | 2,897 | 2,281 | 2,768 | 2,285 |
MEC | ||||
Operating revenue: | ||||
Total operating revenue | 897 | 693 | 1,902 | 1,760 |
Operating expenses: | ||||
Operations and maintenance | 200 | 184 | 392 | 377 |
Depreciation and amortization | 277 | 209 | 527 | 416 |
Property and other taxes | 36 | 37 | 76 | 73 |
Total operating expenses | 807 | 590 | 1,712 | 1,609 |
Operating income | 90 | 103 | 190 | 151 |
Other income (expense): | ||||
Interest expense | (78) | (74) | (156) | (148) |
Allowance for borrowed funds | 5 | 2 | 9 | 4 |
Allowance for equity funds | 14 | 8 | 29 | 14 |
Other, net | (12) | 15 | (15) | 26 |
Total other income (expense) | (71) | (49) | (133) | (104) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 19 | 54 | 57 | 47 |
Income tax expense (benefit) | (188) | (159) | (394) | (313) |
Net income (loss) attributable to parent | 207 | 213 | 451 | 360 |
Regulated electric | MEC | ||||
Operating revenue: | ||||
Total operating revenue | 725 | 586 | 1,333 | 1,131 |
Operating expenses: | ||||
Cost of sales | 174 | 103 | 299 | 254 |
Regulated natural gas and other | MEC | ||||
Operating revenue: | ||||
Total operating revenue | 172 | 107 | 569 | 629 |
Operating expenses: | ||||
Cost of sales | $ 120 | $ 57 | $ 418 | $ 489 |
Consolidated Statements of Op_3
Consolidated Statements of Operations (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Operating revenue: | ||||
Total operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 |
Operating expenses: | ||||
Cost of sales | 1,525 | 1,110 | 2,985 | 2,679 |
Total operating expenses | 5,405 | 4,856 | 10,199 | 9,604 |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 |
Other income (expense): | ||||
Interest expense | (550) | (532) | (1,082) | (1,062) |
Allowance for equity funds | 42 | 30 | 80 | 56 |
Other, net | (26) | 48 | (21) | 56 |
Total other income (expense) | 2,042 | 1,552 | 336 | (27) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 |
Income tax expense (benefit) | 149 | 327 | (358) | (208) |
Net income (loss) attributable to parent | 2,897 | 2,281 | 2,768 | 2,285 |
MidAmerican Funding, LLC | ||||
Operating revenue: | ||||
Total operating revenue | 897 | 693 | 1,902 | 1,760 |
Operating expenses: | ||||
Operations and maintenance | 200 | 184 | 392 | 377 |
Depreciation and amortization | 277 | 209 | 527 | 416 |
Property and other taxes | 36 | 37 | 76 | 73 |
Total operating expenses | 807 | 590 | 1,712 | 1,609 |
Operating income | 90 | 103 | 190 | 151 |
Other income (expense): | ||||
Interest expense | (83) | (78) | (165) | (156) |
Allowance for borrowed funds | 5 | 2 | 9 | 4 |
Allowance for equity funds | 14 | 8 | 29 | 14 |
Other, net | (10) | 16 | (14) | 26 |
Total other income (expense) | (74) | (52) | (141) | (112) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 16 | 51 | 49 | 39 |
Income tax expense (benefit) | (188) | (160) | (396) | (316) |
Net income (loss) attributable to parent | 204 | 211 | 445 | 355 |
Regulated electric | MidAmerican Funding, LLC | ||||
Operating revenue: | ||||
Total operating revenue | 725 | 586 | 1,333 | 1,131 |
Operating expenses: | ||||
Cost of sales | 174 | 103 | 299 | 254 |
Regulated natural gas and other | MidAmerican Funding, LLC | ||||
Operating revenue: | ||||
Total operating revenue | 172 | 107 | 569 | 629 |
Operating expenses: | ||||
Cost of sales | $ 120 | $ 57 | $ 418 | $ 489 |
Consolidated Statements of Op_4
Consolidated Statements of Operations (Unaudited) - NPC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 |
Operating expenses: | ||||
Cost of sales | 1,525 | 1,110 | 2,985 | 2,679 |
Total operating expenses | 5,405 | 4,856 | 10,199 | 9,604 |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 |
Other income (expense): | ||||
Interest expense | (550) | (532) | (1,082) | (1,062) |
Allowance for borrowed funds | 18 | 14 | 35 | 28 |
Allowance for equity funds | 42 | 30 | 80 | 56 |
Interest and dividend income | 30 | 26 | 53 | 47 |
Other, net | (26) | 48 | (21) | 56 |
Total other income (expense) | 2,042 | 1,552 | 336 | (27) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 |
Income tax expense (benefit) | 149 | 327 | (358) | (208) |
Net income (loss) attributable to parent | 2,897 | 2,281 | 2,768 | 2,285 |
NPC | ||||
Operating revenue | 639 | 559 | 1,054 | 929 |
Operating expenses: | ||||
Cost of sales | 336 | 252 | 548 | 417 |
Operations and maintenance | 75 | 77 | 140 | 140 |
Depreciation and amortization | 103 | 100 | 206 | 201 |
Property and other taxes | 12 | 12 | 25 | 24 |
Total operating expenses | 526 | 441 | 919 | 782 |
Operating income | 113 | 118 | 135 | 147 |
Other income (expense): | ||||
Interest expense | (39) | (39) | (77) | (77) |
Allowance for borrowed funds | 2 | 1 | 3 | 2 |
Allowance for equity funds | 2 | 2 | 5 | 3 |
Interest and dividend income | 9 | 3 | 18 | 8 |
Other, net | (1) | 6 | 0 | 10 |
Total other income (expense) | (27) | (27) | (51) | (54) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 86 | 91 | 84 | 93 |
Income tax expense (benefit) | 10 | 9 | 10 | 9 |
Net income (loss) attributable to parent | $ 76 | $ 82 | $ 74 | $ 84 |
Consolidated Statements of Op_5
Consolidated Statements of Operations (Unaudited) - SPPC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Total operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 |
Cost of sales | 1,525 | 1,110 | 2,985 | 2,679 |
Total operating expenses | 5,405 | 4,856 | 10,199 | 9,604 |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 |
Interest expense | (550) | (532) | (1,082) | (1,062) |
Allowance for equity funds | 42 | 30 | 80 | 56 |
Interest and dividend income | 30 | 26 | 53 | 47 |
Other, net | (26) | 48 | (21) | 56 |
Total other income (expense) | 2,042 | 1,552 | 336 | (27) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 |
Income tax expense (benefit) | 149 | 327 | (358) | (208) |
Net income (loss) attributable to parent | 2,897 | 2,281 | 2,768 | 2,285 |
SPPC | ||||
Total operating revenue | 258 | 209 | 537 | 429 |
Operations and maintenance | 47 | 41 | 88 | 77 |
Depreciation and amortization | 37 | 36 | 73 | 72 |
Property and other taxes | 6 | 6 | 12 | 12 |
Total operating expenses | 235 | 184 | 476 | 365 |
Operating income | 23 | 25 | 61 | 64 |
Interest expense | (14) | (13) | (27) | (27) |
Capitalized interest | 0 | 1 | 1 | 1 |
Allowance for equity funds | 2 | 2 | 4 | 3 |
Interest and dividend income | 4 | 1 | 7 | 3 |
Other, net | 0 | 2 | 2 | 6 |
Total other income (expense) | (8) | (7) | (13) | (14) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 15 | 18 | 48 | 50 |
Income tax expense (benefit) | 2 | 1 | 7 | 5 |
Net income (loss) attributable to parent | 13 | 17 | 41 | 45 |
SPPC | Regulated electric | ||||
Total operating revenue | 230 | 189 | 457 | 370 |
Cost of sales | 129 | 93 | 253 | 175 |
SPPC | Regulated natural gas | ||||
Total operating revenue | 28 | 20 | 80 | 59 |
Cost of sales | $ 16 | $ 8 | $ 50 | $ 29 |
Consolidated Statements of Op_6
Consolidated Statements of Operations (Unaudited) - EEGH - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 |
Operating expenses: | ||||
Total operating expenses | 5,405 | 4,856 | 10,199 | 9,604 |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 |
Other income (expense): | ||||
Interest expense | (550) | (532) | (1,082) | (1,062) |
Allowance for equity funds | 42 | 30 | 80 | 56 |
Other, net | (26) | 48 | (21) | 56 |
Total other income (expense) | 2,042 | 1,552 | 336 | (27) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 |
Income tax expense (benefit) | 149 | 327 | (358) | (208) |
Equity income (loss) | (83) | (50) | (140) | (229) |
Net income | 3,017 | 2,383 | 2,997 | 2,493 |
Net income attributable to noncontrolling interests | 120 | 102 | 229 | 208 |
Net income (loss) attributable to parent | 2,897 | 2,281 | 2,768 | 2,285 |
EEGH | ||||
Operating revenue | 504 | 437 | 986 | 923 |
Operating expenses: | ||||
Excess gas | (21) | (10) | (22) | (10) |
Operations and maintenance | 124 | 113 | 242 | 237 |
Depreciation and amortization | 80 | 81 | 165 | 161 |
Property and other taxes | 37 | 38 | 66 | 77 |
Total operating expenses | 220 | 222 | 451 | 465 |
Operating income | 284 | 215 | 535 | 458 |
Other income (expense): | ||||
Interest expense | (36) | (42) | (72) | (86) |
Allowance for equity funds | 1 | 1 | 3 | 3 |
Other, net | 0 | 1 | (1) | 2 |
Total other income (expense) | (35) | (40) | (70) | (81) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 249 | 175 | 465 | 377 |
Income tax expense (benefit) | 37 | 22 | 67 | 49 |
Equity income (loss) | 9 | 7 | 28 | 23 |
Net income | 221 | 160 | 426 | 351 |
Net income attributable to noncontrolling interests | 118 | 100 | 229 | 202 |
Net income (loss) attributable to parent | $ 103 | $ 60 | $ 197 | $ 149 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 3,017 | $ 2,383 | $ 2,997 | $ 2,493 |
Other comprehensive (loss) income, net of tax: | ||||
Unrecognized amounts on retirement benefits, net of tax | 25 | 15 | 40 | 22 |
Foreign currency translation adjustment | (481) | 68 | (591) | 159 |
Unrealized gains (losses) on cash flow hedges, net of tax | 26 | 1 | 103 | 15 |
Total other comprehensive (loss) income, net of tax | (430) | 84 | (448) | 196 |
Comprehensive income | 2,587 | 2,467 | 2,549 | 2,689 |
Comprehensive income attributable to noncontrolling interests | 120 | 106 | 229 | 212 |
Comprehensive income (loss) attributable to parent | $ 2,467 | $ 2,361 | $ 2,320 | $ 2,477 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Unrecognized amounts on retirement benefits, tax | $ 9 | $ 1 | $ 12 | $ 5 |
Unrealized gains (losses) on cash flow hedges, tax | 8 | (1) | 36 | 4 |
EEGH | ||||
Unrecognized amounts on retirement benefits, tax | 0 | 0 | 0 | 0 |
Unrealized gains (losses) on cash flow hedges, tax | $ 0 | $ 0 | $ 1 | $ 3 |
Consolidated Statements of Co_3
Consolidated Statements of Comprehensive Income (Unaudited) - EEGH - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income | $ 3,017 | $ 2,383 | $ 2,997 | $ 2,493 |
Other comprehensive (loss) income, net of tax: | ||||
Unrecognized amounts on retirement benefits, net of tax | 25 | 15 | 40 | 22 |
Unrealized gains (losses) on cash flow hedges, net of tax | 26 | 1 | 103 | 15 |
Total other comprehensive (loss) income, net of tax | (430) | 84 | (448) | 196 |
Comprehensive income | 2,587 | 2,467 | 2,549 | 2,689 |
Comprehensive income attributable to noncontrolling interests | 120 | 106 | 229 | 212 |
Comprehensive income (loss) attributable to parent | 2,467 | 2,361 | 2,320 | 2,477 |
EEGH | ||||
Net income | 221 | 160 | 426 | 351 |
Other comprehensive (loss) income, net of tax: | ||||
Unrecognized amounts on retirement benefits, net of tax | 0 | 2 | 1 | 4 |
Unrealized gains (losses) on cash flow hedges, net of tax | (1) | 3 | 3 | 13 |
Total other comprehensive (loss) income, net of tax | (1) | 5 | 4 | 17 |
Comprehensive income | 220 | 165 | 430 | 368 |
Comprehensive income attributable to noncontrolling interests | 118 | 100 | 229 | 206 |
Comprehensive income (loss) attributable to parent | $ 102 | $ 65 | $ 201 | $ 162 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions | Total | Preferred Stock | Common Stock | Additional Paid-in Capital | Long-term Income Tax Receivable | Retained Earnings | Accumulated Other Comprehensive (Loss) Income, Net | Noncontrolling Interest |
Balance at Dec. 31, 2020 | $ 46,977 | $ 3,750 | $ 0 | $ 6,377 | $ (658) | $ 35,093 | $ (1,552) | $ 3,967 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net Income | 2,493 | 2,285 | 208 | |||||
Other comprehensive income (loss) | 196 | 192 | 4 | |||||
Preferred stock dividend | (75) | (75) | ||||||
Distributions to noncontrolling interests | (234) | (234) | ||||||
Contributions | 9 | 9 | ||||||
Other equity transactions | (1) | (1) | ||||||
Balance at Jun. 30, 2021 | 49,365 | 3,750 | 0 | 6,377 | (658) | 37,303 | (1,360) | 3,953 |
Balance at Mar. 31, 2021 | 47,051 | 3,750 | 0 | 6,377 | (658) | 35,060 | (1,440) | 3,962 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net Income | 2,383 | 2,281 | 102 | |||||
Other comprehensive income (loss) | 84 | 80 | 4 | |||||
Preferred stock dividend | (37) | (37) | ||||||
Distributions to noncontrolling interests | (121) | (121) | ||||||
Contributions | 9 | 9 | ||||||
Other equity transactions | (4) | (1) | (3) | |||||
Balance at Jun. 30, 2021 | 49,365 | 3,750 | 0 | 6,377 | (658) | 37,303 | (1,360) | 3,953 |
Balance at Dec. 31, 2021 | 50,589 | 1,650 | 0 | 6,374 | (744) | 40,754 | (1,340) | 3,895 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net Income | 2,997 | 2,768 | 229 | |||||
Other comprehensive income (loss) | (448) | (448) | ||||||
Preferred stock redemptions | (800) | (800) | ||||||
Preferred stock dividend | (29) | (29) | ||||||
Common stock purchases | (870) | (77) | (793) | |||||
Distributions to noncontrolling interests | (245) | (245) | ||||||
Contributions | 2 | 2 | ||||||
Other equity transactions | (5) | 1 | (12) | 6 | ||||
Balance at Jun. 30, 2022 | 51,191 | 850 | 0 | 6,298 | (744) | 42,688 | (1,788) | 3,887 |
Balance at Mar. 31, 2022 | 50,424 | 1,650 | 0 | 6,374 | (744) | 40,608 | (1,358) | 3,894 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net Income | 3,017 | 2,897 | 120 | |||||
Other comprehensive income (loss) | (430) | (430) | ||||||
Preferred stock redemptions | (800) | (800) | ||||||
Preferred stock dividend | (13) | (13) | ||||||
Common stock purchases | (870) | (77) | (793) | |||||
Distributions to noncontrolling interests | (129) | (129) | ||||||
Contributions | 2 | 2 | ||||||
Other equity transactions | (10) | 1 | (11) | |||||
Balance at Jun. 30, 2022 | $ 51,191 | $ 850 | $ 0 | $ 6,298 | $ (744) | $ 42,688 | $ (1,788) | $ 3,887 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Unaudited) - PAC - USD ($) $ in Millions | Total | Accumulated Other Comprehensive (Loss) Income, Net | PAC | PAC Preferred Stock | PAC Common Stock | PAC Additional Paid-in Capital | PAC Retained Earnings | PAC Accumulated Other Comprehensive (Loss) Income, Net |
Balance at Dec. 31, 2020 | $ 9,173 | $ 2 | $ 0 | $ 4,479 | $ 4,711 | $ (19) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | $ 2,285 | 394 | 394 | |||||
Other comprehensive income (loss) | 196 | $ 192 | ||||||
Balance at Jun. 30, 2021 | 9,567 | 2 | 0 | 4,479 | 5,105 | (19) | ||
Balance at Mar. 31, 2021 | 9,342 | 2 | 0 | 4,479 | 4,880 | (19) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 2,281 | 225 | 225 | |||||
Other comprehensive income (loss) | 84 | 80 | ||||||
Balance at Jun. 30, 2021 | 9,567 | 2 | 0 | 4,479 | 5,105 | (19) | ||
Balance at Dec. 31, 2021 | 46,694 | 9,913 | 2 | 0 | 4,479 | 5,449 | (17) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 2,768 | 212 | 212 | |||||
Other comprehensive income (loss) | (448) | (448) | 1 | 1 | ||||
Dividends declared | (100) | (100) | ||||||
Balance at Jun. 30, 2022 | 47,304 | 10,026 | 2 | 0 | 4,479 | 5,561 | (16) | |
Balance at Mar. 31, 2022 | 10,044 | 2 | 0 | 4,479 | 5,579 | (16) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 2,897 | 82 | 82 | |||||
Other comprehensive income (loss) | (430) | $ (430) | ||||||
Dividends declared | (100) | (100) | ||||||
Balance at Jun. 30, 2022 | $ 47,304 | $ 10,026 | $ 2 | $ 0 | $ 4,479 | $ 5,561 | $ (16) |
Statements of Changes in Shareh
Statements of Changes in Shareholder's Equity (Unaudited) - MEC - USD ($) $ in Millions | Total | Additional Paid-in Capital | Retained Earnings | MEC | MEC Common Stock | MEC Additional Paid-in Capital | MEC Retained Earnings |
Balance at Dec. 31, 2020 | $ 8,065 | $ 0 | $ 561 | $ 7,504 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | $ 2,285 | 360 | 360 | ||||
Other equity transactions | (1) | 1 | 1 | ||||
Balance at Jun. 30, 2021 | 8,426 | 0 | 561 | 7,865 | |||
Balance at Mar. 31, 2021 | 8,212 | 0 | 561 | 7,651 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 2,281 | 213 | 213 | ||||
Other equity transactions | (4) | $ (1) | 1 | 1 | |||
Balance at Jun. 30, 2021 | 8,426 | 0 | 561 | 7,865 | |||
Balance at Dec. 31, 2021 | 46,694 | 8,960 | 0 | 561 | 8,399 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 2,768 | 451 | 451 | ||||
Other equity transactions | (5) | $ 1 | (12) | ||||
Balance at Jun. 30, 2022 | 47,304 | 9,411 | 0 | 561 | 8,850 | ||
Balance at Mar. 31, 2022 | 9,204 | 0 | 561 | 8,643 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 2,897 | 207 | 207 | ||||
Other equity transactions | (10) | $ 1 | $ (11) | ||||
Balance at Jun. 30, 2022 | $ 47,304 | $ 9,411 | $ 0 | $ 561 | $ 8,850 |
Consolidated Statements of Ch_3
Consolidated Statements of Changes in Member's Equity (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | Total | Additional Paid-in Capital | Retained Earnings | MidAmerican Funding, LLC | MidAmerican Funding, LLC Additional Paid-in Capital | MidAmerican Funding, LLC Retained Earnings |
Balance at Dec. 31, 2020 | $ 8,919 | $ 1,679 | $ 7,240 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,285 | 355 | 355 | |||
Other equity transactions | (1) | (1) | (1) | |||
Balance at Jun. 30, 2021 | 9,273 | 1,679 | 7,594 | |||
Balance at Mar. 31, 2021 | 9,063 | 1,679 | 7,384 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 2,281 | 211 | 211 | |||
Other equity transactions | (4) | $ (1) | (1) | (1) | ||
Balance at Jun. 30, 2021 | 9,273 | 1,679 | 7,594 | |||
Balance at Dec. 31, 2021 | 46,694 | 9,801 | 1,679 | 8,122 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 2,768 | 445 | 445 | |||
Other equity transactions | (5) | $ 1 | (12) | |||
Balance at Jun. 30, 2022 | 47,304 | 10,246 | 1,679 | 8,567 | ||
Balance at Mar. 31, 2022 | 10,042 | 1,679 | 8,363 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 2,897 | 204 | 204 | |||
Other equity transactions | (10) | $ 1 | $ (11) | |||
Balance at Jun. 30, 2022 | $ 47,304 | $ 10,246 | $ 1,679 | $ 8,567 |
Consolidated Statements of Ch_4
Consolidated Statements of Changes in Equity (Unaudited) - NPC - USD ($) $ in Millions | Total | NPC | NPC Common Stock | NPC Additional Paid-in Capital | NPC Retained Earnings | NPC Accumulated Other Comprehensive (Loss) Income, Net |
Balance (shares) at Dec. 31, 2020 | 1,000 | |||||
Balance at Dec. 31, 2020 | $ 2,939 | $ 0 | $ 2,308 | $ 634 | $ (3) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,285 | 84 | 84 | |||
Dividends declared | (13) | (13) | ||||
Balance (shares) at Jun. 30, 2021 | 1,000 | |||||
Balance at Jun. 30, 2021 | 3,010 | $ 0 | 2,308 | 705 | (3) | |
Balance (shares) at Mar. 31, 2021 | 1,000 | |||||
Balance at Mar. 31, 2021 | 2,941 | $ 0 | 2,308 | 636 | (3) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,281 | 82 | 82 | |||
Dividends declared | (13) | (13) | ||||
Balance (shares) at Jun. 30, 2021 | 1,000 | |||||
Balance at Jun. 30, 2021 | $ 3,010 | $ 0 | 2,308 | 705 | (3) | |
Balance (shares) at Dec. 31, 2021 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Dec. 31, 2021 | $ 46,694 | $ 3,030 | $ 0 | 2,308 | 724 | (2) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,768 | 74 | 74 | |||
Contributions | $ 25 | 25 | ||||
Balance (shares) at Jun. 30, 2022 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Jun. 30, 2022 | $ 47,304 | $ 3,129 | $ 0 | 2,333 | 798 | (2) |
Balance (shares) at Mar. 31, 2022 | 1,000 | |||||
Balance at Mar. 31, 2022 | 3,028 | $ 0 | 2,308 | 722 | (2) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,897 | 76 | 76 | |||
Contributions | $ 25 | 25 | ||||
Balance (shares) at Jun. 30, 2022 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Jun. 30, 2022 | $ 47,304 | $ 3,129 | $ 0 | $ 2,333 | $ 798 | $ (2) |
Consolidated Statements of Ch_5
Consolidated Statements of Changes in Equity (Unaudited) - SPPC - USD ($) $ in Millions | Total | SPPC | SPPC Common Stock | SPPC Additional Paid-in Capital | SPPC Retained Earnings | SPPC Accumulated Other Comprehensive (Loss) Income, Net |
Balance (shares) at Dec. 31, 2020 | 1,000 | |||||
Balance at Dec. 31, 2020 | $ 1,411 | $ 0 | $ 1,111 | $ 301 | $ (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,285 | 45 | 45 | |||
Balance (shares) at Jun. 30, 2021 | 1,000 | |||||
Balance at Jun. 30, 2021 | 1,456 | $ 0 | 1,111 | 346 | (1) | |
Balance (shares) at Mar. 31, 2021 | 1,000 | |||||
Balance at Mar. 31, 2021 | 1,439 | $ 0 | 1,111 | 329 | (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,281 | 17 | 17 | |||
Balance (shares) at Jun. 30, 2021 | 1,000 | |||||
Balance at Jun. 30, 2021 | $ 1,456 | $ 0 | 1,111 | 346 | (1) | |
Balance (shares) at Dec. 31, 2021 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Dec. 31, 2021 | $ 46,694 | $ 1,535 | $ 0 | 1,111 | 425 | (1) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,768 | 41 | 41 | |||
Dividends declared | (70) | (70) | ||||
Contributions | $ 340 | 340 | ||||
Balance (shares) at Jun. 30, 2022 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Jun. 30, 2022 | $ 47,304 | $ 1,846 | $ 0 | 1,451 | 396 | (1) |
Balance (shares) at Mar. 31, 2022 | 1,000 | |||||
Balance at Mar. 31, 2022 | 1,693 | 1,241 | 453 | (1) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 2,897 | 13 | 13 | |||
Dividends declared | (70) | (70) | ||||
Contributions | $ 210 | 210 | ||||
Balance (shares) at Jun. 30, 2022 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Jun. 30, 2022 | $ 47,304 | $ 1,846 | $ 0 | $ 1,451 | $ 396 | $ (1) |
Consolidated Statements of Ch_6
Consolidated Statements of Changes in Equity (Unaudited) - EEGH - USD ($) $ in Millions | Total | EEGH | Member Interests EEGH | Accumulated Other Comprehensive (Loss) Income, Net | Accumulated Other Comprehensive (Loss) Income, Net EEGH | Noncontrolling Interest | Noncontrolling Interest EEGH |
Balance at Dec. 31, 2020 | $ 46,977 | $ 6,995 | $ 2,957 | $ (1,552) | $ (53) | $ 3,967 | $ 4,091 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 2,493 | 351 | 149 | 202 | |||
Other comprehensive income (loss) | 196 | 17 | 192 | 13 | 4 | 4 | |
Contributions | 9 | 282 | 282 | 9 | |||
Distributions | (247) | (22) | (225) | ||||
Balance at Jun. 30, 2021 | 49,365 | 7,398 | 3,366 | (1,360) | (40) | 3,953 | 4,072 |
Balance at Mar. 31, 2021 | 47,051 | 7,078 | 3,035 | (1,440) | (45) | 3,962 | 4,088 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 2,383 | 160 | 60 | 100 | |||
Other comprehensive income (loss) | 84 | 5 | 80 | 5 | 4 | ||
Contributions | 9 | 271 | 271 | 9 | |||
Distributions | (116) | (116) | |||||
Balance at Jun. 30, 2021 | 49,365 | 7,398 | 3,366 | (1,360) | (40) | 3,953 | 4,072 |
Balance at Dec. 31, 2021 | 50,589 | 7,494 | 3,501 | (1,340) | (43) | 3,895 | 4,036 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 2,997 | 426 | 197 | 229 | |||
Other comprehensive income (loss) | (448) | 4 | (448) | 4 | |||
Contributions | 2 | 68 | 68 | 2 | |||
Distributions | (275) | (33) | (242) | ||||
Balance at Jun. 30, 2022 | 51,191 | 7,717 | 3,733 | (1,788) | (39) | 3,887 | 4,023 |
Balance at Mar. 31, 2022 | 50,424 | 7,590 | 3,595 | (1,358) | (38) | 3,894 | 4,033 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 3,017 | 221 | 103 | 118 | |||
Other comprehensive income (loss) | (430) | (1) | (430) | (1) | |||
Contributions | 2 | 68 | 68 | 2 | |||
Distributions | (161) | (33) | (128) | ||||
Balance at Jun. 30, 2022 | $ 51,191 | $ 7,717 | $ 3,733 | $ (1,788) | $ (39) | $ 3,887 | $ 4,023 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 2,997 | $ 2,493 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Gains (losses) on marketable securities, net | (1,271) | (848) |
Depreciation and amortization | 2,081 | 1,874 |
Allowance for equity funds | (80) | (56) |
Equity income, net of distributions | 202 | 313 |
Changes in regulatory assets and liabilities | (226) | (199) |
Deferred income taxes and investment tax credits, net | 385 | 613 |
Other, net | 37 | (26) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (317) | (254) |
Derivative collateral, net | 189 | 92 |
Pension and other postretirement benefit plans | (21) | (33) |
Accrued property, income and other taxes, net | 489 | 76 |
Accounts payable and other liabilities | 682 | 187 |
Net cash flows from operating activities | 5,147 | 4,232 |
Cash flows from investing activities: | ||
Capital expenditures | (3,382) | (2,848) |
Purchases of marketable securities | (281) | (185) |
Proceeds from sales of marketable securities | 257 | 163 |
Equity method investments | (28) | (52) |
Other, net | (18) | (53) |
Net cash flows from investing activities | (3,452) | (2,975) |
Cash flows from financing activities: | ||
Preferred stock redemptions | (800) | 0 |
Common stock purchases | (870) | 0 |
Proceeds from BHE senior debt | 987 | 0 |
Repayments of BHE senior debt | 0 | (450) |
Preferred dividends | (33) | (75) |
Proceeds from subsidiary debt | 1,201 | 539 |
Repayments of subsidiary debt | (542) | (1,210) |
Net (repayments of) proceeds from short-term debt | (54) | 245 |
Distributions to noncontrolling interests | (246) | (234) |
Other, net | (248) | (19) |
Net cash flows from financing activities | (605) | (1,204) |
Effect of exchange rate changes | (33) | 2 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,057 | 55 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 2,301 | $ 1,500 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Unaudited) - PAC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,768 | $ 2,285 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Allowance for equity funds | (80) | (56) |
Changes in regulatory assets and liabilities | (226) | (199) |
Deferred income taxes and investment tax credits, net | 385 | 613 |
Other, net | 37 | (26) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (317) | (254) |
Derivative collateral, net | 189 | 92 |
Accrued property, income and other taxes, net | 489 | 76 |
Accounts payable and other liabilities | 682 | 187 |
Net cash flows from operating activities | 5,147 | 4,232 |
Cash flows from investing activities: | ||
Capital expenditures | (3,382) | (2,848) |
Other, net | (18) | (53) |
Net cash flows from investing activities | (3,452) | (2,975) |
Cash flows from financing activities: | ||
Net (repayments of) proceeds from short-term debt | (54) | 245 |
Other, net | (248) | (19) |
Net cash flows from financing activities | (605) | (1,204) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,057 | 55 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,301 | 1,500 |
PAC | ||
Cash flows from operating activities: | ||
Net income (loss) | 212 | 394 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 559 | 539 |
Allowance for equity funds | (28) | (25) |
Changes in regulatory assets and liabilities | (76) | (98) |
Deferred income taxes and investment tax credits, net | 29 | 22 |
Other, net | 12 | (1) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (142) | (10) |
Inventories | (16) | 8 |
Derivative collateral, net | 69 | 35 |
Accrued property, income and other taxes, net | 152 | 79 |
Accounts payable and other liabilities | 442 | 103 |
Net cash flows from operating activities | 1,213 | 1,046 |
Cash flows from investing activities: | ||
Capital expenditures | (894) | (819) |
Other, net | 6 | 0 |
Net cash flows from investing activities | (888) | (819) |
Cash flows from financing activities: | ||
Repayments of long-term debt | (9) | (400) |
Net (repayments of) proceeds from short-term debt | 0 | 208 |
Dividends paid | (100) | 0 |
Other, net | (2) | (4) |
Net cash flows from financing activities | (111) | (196) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 214 | 31 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 186 | 19 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 400 | $ 50 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - MEC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,768 | $ 2,285 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Allowance for equity funds | (80) | (56) |
Deferred income taxes and investment tax credits, net | 385 | 613 |
Other, net | 37 | (26) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (317) | (254) |
Accrued property, income and other taxes, net | 489 | 76 |
Accounts payable and other liabilities | 682 | 187 |
Net cash flows from operating activities | 5,147 | 4,232 |
Cash flows from investing activities: | ||
Capital expenditures | (3,382) | (2,848) |
Purchases of marketable securities | (281) | (185) |
Proceeds from sales of marketable securities | 257 | 163 |
Other, net | (18) | (53) |
Net cash flows from investing activities | (3,452) | (2,975) |
Cash flows from financing activities: | ||
Other, net | (248) | (19) |
Net cash flows from financing activities | (605) | (1,204) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,057 | 55 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,301 | 1,500 |
MEC | ||
Cash flows from operating activities: | ||
Net income (loss) | 451 | 360 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 527 | 416 |
Amortization of utility plant to other operating expenses | 19 | 17 |
Allowance for equity funds | (29) | (14) |
Deferred income taxes and investment tax credits, net | 58 | 196 |
Settlements of asset retirement obligations | (28) | (19) |
Other, net | 33 | 11 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 2 | (275) |
Inventories | 8 | 41 |
Accrued property, income and other taxes, net | 94 | 56 |
Accounts payable and other liabilities | (10) | (68) |
Net cash flows from operating activities | 1,125 | 721 |
Cash flows from investing activities: | ||
Capital expenditures | (862) | (720) |
Purchases of marketable securities | (214) | (109) |
Proceeds from sales of marketable securities | 210 | 105 |
Other, net | 6 | (2) |
Net cash flows from investing activities | (860) | (726) |
Cash flows from financing activities: | ||
Other, net | (1) | (2) |
Net cash flows from financing activities | (1) | (2) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 264 | (7) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 239 | 45 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 503 | $ 38 |
Consolidated Statements of Ca_3
Consolidated Statements of Cash Flows (Unaudited) - MidAmerican Funding LLC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,768 | $ 2,285 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Allowance for equity funds | (80) | (56) |
Deferred income taxes and investment tax credits, net | 385 | 613 |
Other, net | 37 | (26) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (317) | (254) |
Accrued property, income and other taxes, net | 489 | 76 |
Accounts payable and other liabilities | 682 | 187 |
Net cash flows from operating activities | 5,147 | 4,232 |
Cash flows from investing activities: | ||
Capital expenditures | (3,382) | (2,848) |
Purchases of marketable securities | (281) | (185) |
Proceeds from sales of marketable securities | 257 | 163 |
Other, net | (18) | (53) |
Net cash flows from investing activities | (3,452) | (2,975) |
Cash flows from financing activities: | ||
Other, net | (248) | (19) |
Net cash flows from financing activities | (605) | (1,204) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,057 | 55 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,301 | 1,500 |
MidAmerican Funding, LLC | ||
Cash flows from operating activities: | ||
Net income (loss) | 445 | 355 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 527 | 416 |
Amortization of utility plant to other operating expenses | 19 | 17 |
Allowance for equity funds | (29) | (14) |
Deferred income taxes and investment tax credits, net | 58 | 195 |
Settlements of asset retirement obligations | (28) | (19) |
Other, net | 32 | 11 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | 1 | (275) |
Inventories | 8 | 41 |
Accrued property, income and other taxes, net | 95 | 56 |
Accounts payable and other liabilities | (10) | (68) |
Net cash flows from operating activities | 1,118 | 715 |
Cash flows from investing activities: | ||
Capital expenditures | (862) | (721) |
Purchases of marketable securities | (214) | (109) |
Proceeds from sales of marketable securities | 210 | 105 |
Other, net | 6 | (1) |
Net cash flows from investing activities | (860) | (726) |
Cash flows from financing activities: | ||
Net change in note payable to affiliate | 8 | 6 |
Other, net | (1) | (2) |
Net cash flows from financing activities | 7 | 4 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 265 | (7) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 240 | 46 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 505 | $ 39 |
Consolidated Statements of Ca_4
Consolidated Statements of Cash Flows (Unaudited) - NPC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,768 | $ 2,285 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Allowance for equity funds | (80) | (56) |
Changes in regulatory assets and liabilities | (226) | (199) |
Deferred income taxes and investment tax credits, net | 385 | 613 |
Other, net | 37 | (26) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (317) | (254) |
Accrued property, income and other taxes, net | 489 | 76 |
Accounts payable and other liabilities | 682 | 187 |
Net cash flows from operating activities | 5,147 | 4,232 |
Cash flows from investing activities: | ||
Capital expenditures | (3,382) | (2,848) |
Net cash flows from investing activities | (3,452) | (2,975) |
Cash flows from financing activities: | ||
Net (repayments of) proceeds from short-term debt | (54) | 245 |
Other, net | (248) | (19) |
Net cash flows from financing activities | (605) | (1,204) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,057 | 55 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,301 | 1,500 |
NPC | ||
Cash flows from operating activities: | ||
Net income (loss) | 74 | 84 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 206 | 201 |
Allowance for equity funds | (5) | (3) |
Changes in regulatory assets and liabilities | (14) | (17) |
Deferred income taxes and investment tax credits, net | 12 | (20) |
Deferred energy | (159) | (1) |
Amortization of deferred energy | 46 | 7 |
Other, net | 10 | 0 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (154) | (83) |
Inventories | (4) | 5 |
Accrued property, income and other taxes, net | 18 | 21 |
Accounts payable and other liabilities | 194 | 116 |
Net cash flows from operating activities | 224 | 310 |
Cash flows from investing activities: | ||
Capital expenditures | (350) | (237) |
Net cash flows from investing activities | (350) | (237) |
Cash flows from financing activities: | ||
Proceeds from long-term debt | 300 | 0 |
Net (repayments of) proceeds from short-term debt | (180) | 0 |
Contributions from parent | 25 | 0 |
Dividends paid | 0 | (13) |
Other, net | (9) | (8) |
Net cash flows from financing activities | 136 | (21) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 10 | 52 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 45 | 36 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 55 | $ 88 |
Consolidated Statements of Ca_5
Consolidated Statements of Cash Flows (Unaudited) - SPPC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 2,768 | $ 2,285 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Allowance for equity funds | (80) | (56) |
Changes in regulatory assets and liabilities | (226) | (199) |
Deferred income taxes and investment tax credits, net | 385 | 613 |
Other, net | 37 | (26) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (317) | (254) |
Accrued property, income and other taxes, net | 489 | 76 |
Accounts payable and other liabilities | 682 | 187 |
Net cash flows from operating activities | 5,147 | 4,232 |
Cash flows from investing activities: | ||
Capital expenditures | (3,382) | (2,848) |
Net cash flows from investing activities | (3,452) | (2,975) |
Cash flows from financing activities: | ||
Net (repayments of) proceeds from short-term debt | (54) | 245 |
Other, net | (248) | (19) |
Net cash flows from financing activities | (605) | (1,204) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,057 | 55 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,301 | 1,500 |
SPPC | ||
Cash flows from operating activities: | ||
Net income (loss) | 41 | 45 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 73 | 72 |
Allowance for equity funds | (4) | (3) |
Changes in regulatory assets and liabilities | (8) | (20) |
Deferred income taxes and investment tax credits, net | 5 | 8 |
Deferred energy | (67) | (47) |
Amortization of deferred energy | 46 | 2 |
Other, net | 2 | (2) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | (1) | (1) |
Inventories | (10) | 10 |
Accrued property, income and other taxes, net | 3 | (1) |
Accounts payable and other liabilities | 28 | 29 |
Net cash flows from operating activities | 108 | 92 |
Cash flows from investing activities: | ||
Capital expenditures | (191) | (128) |
Net cash flows from investing activities | (191) | (128) |
Cash flows from financing activities: | ||
Proceeds from long-term debt | 249 | 0 |
Repayments of long-term debt | (265) | 0 |
Net (repayments of) proceeds from short-term debt | (159) | 29 |
Dividends paid | (70) | 0 |
Proceeds from equity contributions | 340 | 0 |
Other, net | (4) | (4) |
Net cash flows from financing activities | 91 | 25 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 8 | (11) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 16 | 26 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 24 | $ 15 |
Consolidated Statements of Ca_6
Consolidated Statements of Cash Flows (Unaudited) - EEGH - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 2,997 | $ 2,493 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 2,081 | 1,874 |
Allowance for equity funds | (80) | (56) |
Equity income, net of distributions | 202 | 313 |
Changes in regulatory assets and liabilities | (226) | (199) |
Deferred income taxes | 385 | 613 |
Other, net | 37 | (26) |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | (317) | (254) |
Derivative collateral, net | 189 | 92 |
Accrued property, income and other taxes | 489 | 76 |
Accounts payable and other liabilities | 682 | 187 |
Net cash flows from operating activities | 5,147 | 4,232 |
Cash flows from investing activities: | ||
Capital expenditures | (3,382) | (2,848) |
Other, net | (18) | (53) |
Net cash flows from investing activities | (3,452) | (2,975) |
Cash flows from financing activities: | ||
Other, net | (248) | (19) |
Net cash flows from financing activities | (605) | (1,204) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 1,057 | 55 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 2,301 | 1,500 |
EEGH | ||
Cash flows from operating activities: | ||
Net income | 426 | 351 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Losses on other items, net | 2 | 3 |
Depreciation and amortization | 165 | 161 |
Allowance for equity funds | (3) | (3) |
Equity income, net of distributions | (5) | (3) |
Changes in regulatory assets and liabilities | (2) | 1 |
Deferred income taxes | 52 | 118 |
Other, net | 5 | (9) |
Changes in other operating assets and liabilities: | ||
Trade receivables and other assets | 4 | 65 |
Derivative collateral, net | (3) | (1) |
Accrued property, income and other taxes | (3) | (63) |
Accounts payable and other liabilities | 43 | (39) |
Net cash flows from operating activities | 681 | 581 |
Cash flows from investing activities: | ||
Capital expenditures | (151) | (150) |
Repayment of notes by affiliates | 15 | 268 |
Notes to affiliates | (204) | (158) |
Other, net | (7) | (12) |
Net cash flows from investing activities | (347) | (52) |
Cash flows from financing activities: | ||
Repayments of long-term debt | 0 | (500) |
Repayment of notes payable, net | 0 | (9) |
Proceeds from equity contributions | 0 | 256 |
Distributions | (242) | (225) |
Other, net | 0 | (2) |
Net cash flows from financing activities | (242) | (480) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 92 | 49 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 39 | 48 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 131 | $ 97 |
General
General | 6 Months Ended |
Jun. 30, 2022 | |
Segment Reporting Information [Line Items] | |
General | General Berkshire Hathaway Energy Company ("BHE") is a holding company that owns a highly diversified portfolio of locally managed and operated businesses principally engaged in the energy industry (collectively with its subsidiaries, the "Company") and is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). The Company's operations are organized as eight business segments: PacifiCorp and its subsidiaries ("PacifiCorp"), MidAmerican Funding, LLC and its subsidiaries ("MidAmerican Funding") (which primarily consists of MidAmerican Energy Company ("MidAmerican Energy")), NV Energy, Inc. and its subsidiaries ("NV Energy") (which primarily consists of Nevada Power Company and its subsidiaries ("Nevada Power") and Sierra Pacific Power Company and its subsidiaries ("Sierra Pacific")), Northern Powergrid Holdings Company and its subsidiaries ("Northern Powergrid") (which primarily consists of Northern Powergrid (Northeast) plc and Northern Powergrid (Yorkshire) plc), BHE Pipeline Group, LLC and its subsidiaries (which primarily consists of BHE GT&S, LLC and its subsidiaries ("BHE GT&S"), Northern Natural Gas Company ("Northern Natural Gas") and Kern River Gas Transmission Company ("Kern River")), BHE Transmission (which consists of BHE Canada Holdings Corporation and its subsidiaries ("BHE Canada") (which primarily consists of AltaLink, L.P. ("AltaLink")) and BHE U.S. Transmission, LLC and its subsidiaries), BHE Renewables, LLC and its subsidiaries ("BHE Renewables") and HomeServices of America, Inc. and its subsidiaries ("HomeServices"). The Company, through these locally managed and operated businesses, owns four utility companies in the U.S. serving customers in 11 states, two electricity distribution companies in Great Britain, five interstate natural gas pipeline companies and interests in a liquefied natural gas ("LNG") export, import and storage facility in the U.S., an electric transmission business in Canada, interests in electric transmission businesses in the U.S., a renewable energy business primarily investing in wind, solar, geothermal and hydroelectric projects, the largest residential real estate brokerage firm in the U.S. and one of the largest 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, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 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, 2021 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 assumptions regarding significant accounting estimates and policies during the six-month period ended June 30, 2022, other than the updates associated with the Company's estimates of loss contingencies related to the Oregon and California 2020 wildfires (the "2020 Wildfires") as discussed in Note 8. |
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, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. The Consolidated Statements of Comprehensive Income have been omitted as net income materially equals comprehensive income for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 and 2021 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, 2021 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 assumptions regarding significant accounting estimates and policies during the six-month period ended June 30, 2022, other than the updates associated with PacifiCorp's estimates of loss contingencies related to the Oregon and California 2020 wildfires (the "2020 Wildfires") as discussed in Note 9. |
MEC | |
Segment Reporting Information [Line Items] | |
General | General MidAmerican Energy Company ("MidAmerican Energy") is a public utility with electric and natural gas operations and is the principal subsidiary of MHC Inc. ("MHC"). MHC is a holding company that conducts no business other than the ownership of its subsidiaries. MHC's nonregulated subsidiary is Midwest Capital Group, Inc. MHC is the direct, wholly owned subsidiary of MidAmerican Funding, LLC ("MidAmerican Funding"), which is an Iowa limited liability company with Berkshire Hathaway Energy Company ("BHE") as its sole member. BHE is a holding company based in Des Moines, Iowa, that owns subsidiaries principally engaged in energy businesses. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). The unaudited Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Financial Statements as of June 30, 2022, and for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022, 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, 2021, 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 assumptions regarding significant accounting estimates and policies during the six-month period ended June 30, 2022. |
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, 2022, and for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022, 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, 2021, 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 assumptions regarding significant accounting estimates and policies during the six-month period ended June 30, 2022. |
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, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. 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, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 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, 2021 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 assumptions regarding significant accounting estimates and policies during the six-month period ended June 30, 2022. |
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, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. 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, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 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, 2021 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 assumptions regarding significant accounting estimates and policies during the six-month period ended June 30, 2022. |
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 transportation pipeline and underground storage operations in the eastern region of the U.S. and operates Cove Point LNG, LP ("Cove Point"), a liquefied natural gas ("LNG") export, import and storage facility. Eastern Energy Gas owns 100% of the general partner interest and 25% of the limited partnership interest in Cove Point. In addition, Eastern Energy Gas owns a 50% noncontrolling interest in Iroquois Gas Transmission System, L.P. ("Iroquois"), a 416-mile FERC-regulated interstate natural gas transportation pipeline. 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. ("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, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 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, 2021 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' assumptions regarding significant accounting estimates and policies during the six-month period ended June 30, 2022. |
Cash and Cash Equivalents and R
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | 6 Months Ended |
Jun. 30, 2022 | |
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. Restricted amounts are included in other current assets and other assets on the Consolidated Balance Sheets. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented in 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, 2022 2021 Cash and cash equivalents $ 390 $ 179 Restricted cash and cash equivalents included in other current assets 7 4 Restricted cash included in other assets 3 3 Total cash and cash equivalents and restricted cash and cash equivalents $ 400 $ 186 |
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 in 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, 2022 2021 Cash and cash equivalents $ 495 $ 232 Restricted cash and cash equivalents in other current assets 8 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 503 $ 239 |
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 in 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, 2022 2021 Cash and cash equivalents $ 497 $ 233 Restricted cash and cash equivalents in other current assets 8 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 505 $ 240 |
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 in 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, 2022 2021 Cash and cash equivalents $ 42 $ 33 Restricted cash and cash equivalents included in other current assets 13 12 Total cash and cash equivalents and restricted cash and cash equivalents $ 55 $ 45 |
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 in 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, 2022 2021 Cash and cash equivalents $ 17 $ 10 Restricted cash and cash equivalents included in other current assets 7 6 Total cash and cash equivalents and restricted cash and cash equivalents $ 24 $ 16 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 6 Months Ended |
Jun. 30, 2022 | |
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 2022 2021 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 90,810 $ 90,223 Interstate natural gas pipeline assets 3-80 years 17,547 17,423 108,357 107,646 Accumulated depreciation and amortization (33,618) (32,680) Regulated assets, net 74,739 74,966 Nonregulated assets: Independent power plants 2-50 years 8,073 7,665 Cove Point LNG facility 40 years 3,373 3,364 Other assets 2-30 years 3,042 2,666 14,488 13,695 Accumulated depreciation and amortization (3,206) (3,041) Nonregulated assets, net 11,282 10,654 Net operating assets 86,021 85,620 Construction work-in-progress 4,774 4,196 Property, plant and equipment, net $ 90,795 $ 89,816 Construction work-in-progress includes $4.4 billion as of June 30, 2022 and $3.8 billion as of December 31, 2021, 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 2022 2021 Utility Plant: Generation 15 - 59 years $ 13,770 $ 13,679 Transmission 60 - 90 years 7,952 7,894 Distribution 20 - 75 years 8,211 8,044 Intangible plant (1) 5 - 75 years 1,114 1,106 Other 5 - 60 years 1,584 1,539 Utility plant in-service 32,631 32,262 Accumulated depreciation and amortization (10,874) (10,507) Utility plant in-service, net 21,757 21,755 Other non-regulated, net of accumulated depreciation and amortization 14 - 95 years 18 18 Plant, net 21,775 21,773 Construction work-in-progress 1,639 1,141 Property, plant and equipment, net $ 23,414 $ 22,914 (1) Computer software costs included in intangible plant are initially assigned a depreciable life of 5 to 10 years. |
MEC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of June 30, December 31, Depreciable Life 2022 2021 Utility plant in-service, net: Generation 20-70 years $ 17,737 $ 17,397 Transmission 52-75 years 2,583 2,474 Electric distribution 20-75 years 4,725 4,661 Natural gas distribution 29-75 years 2,049 2,039 Utility plant in-service 27,094 26,571 Accumulated depreciation and amortization (7,658) (7,376) Utility plant in-service, net 19,436 19,195 Nonregulated property, net: Nonregulated property, gross 20-50 years 7 7 Accumulated depreciation and amortization (1) (1) Nonregulated property, net 6 6 19,442 19,201 Construction work-in-progress 1,062 1,100 Property, plant and equipment, net $ 20,504 $ 20,301 |
MidAmerican Funding, LLC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, NetRefer to Note 3 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of Depreciable Life June 30, December 31, 2022 2021 Utility plant: Generation 30 - 55 years $ 3,879 $ 3,793 Transmission 45 - 70 years 1,527 1,503 Distribution 20 - 65 years 4,021 3,920 General and intangible plant 5 - 65 years 834 836 Utility plant 10,261 10,052 Accumulated depreciation and amortization (3,517) (3,406) Utility plant, net 6,744 6,646 Other non-regulated, net of accumulated depreciation and amortization 45 years 1 1 Plant, net 6,745 6,647 Construction work-in-progress 370 244 Property, plant and equipment, net $ 7,115 $ 6,891 |
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, 2022 2021 Utility plant: Electric generation 25 - 60 years $ 1,297 $ 1,163 Electric transmission 50 - 100 years 976 940 Electric distribution 20 - 100 years 1,905 1,846 Electric general and intangible plant 5 - 70 years 213 204 Natural gas distribution 35 - 70 years 447 438 Natural gas general and intangible plant 5 - 70 years 15 14 Common general 5 - 70 years 376 370 Utility plant 5,229 4,975 Accumulated depreciation and amortization (1,936) (1,854) Utility plant, net 3,293 3,121 Construction work-in-progress 183 219 Property, plant and equipment, net $ 3,476 $ 3,340 |
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 2022 2021 Utility Plant: Interstate natural gas pipeline assets 21 - 44 years $ 8,728 $ 8,675 Intangible plant 5 - 10 years 106 110 Utility plant in-service 8,834 8,785 Accumulated depreciation and amortization (2,962) (2,901) Utility plant in-service, net 5,872 5,884 Nonutility Plant: LNG facility 40 years 4,484 4,475 Intangible plant 14 years 25 25 Nonutility plant in-service 4,509 4,500 Accumulated depreciation and amortization (484) (423) Nonutility plant in-service, net 4,025 4,077 Plant, net 9,897 9,961 Construction work-in-progress 234 239 Property, plant and equipment, net $ 10,131 $ 10,200 Construction work-in-progress includes $200 million and $209 million as of June 30, 2022 and December 31, 2021, respectively, related to the construction of utility plant. |
Investments and Restricted Cash
Investments and Restricted Cash, Cash Equivalents and Investments | 6 Months Ended |
Jun. 30, 2022 | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Investments and Restricted Cash, Cash Equivalents and Investments | Investments and Restricted Cash, Cash Equivalents and Investments Investments and restricted cash, cash equivalents and investments consists of the following (in millions): As of June 30, December 31, 2022 2021 Investments: BYD Company Limited common stock $ 9,003 $ 7,693 Rabbi trusts 429 492 Other 328 305 Total investments 9,760 8,490 Equity method investments: BHE Renewables tax equity investments 4,680 4,931 Iroquois Gas Transmission System, L.P. 742 735 Electric Transmission Texas, LLC 606 595 Other 302 293 Total equity method investments 6,330 6,554 Restricted cash, cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 658 768 Other restricted cash and cash equivalents 220 148 Total restricted cash, cash equivalents and investments 878 916 Total investments and restricted cash, cash equivalents and investments $ 16,968 $ 15,960 Reflected as: Current assets $ 240 $ 172 Noncurrent assets 16,728 15,788 Total investments and restricted cash, cash equivalents and investments $ 16,968 $ 15,960 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, 2022 2021 2022 2021 Unrealized gains recognized on marketable securities still held at the reporting date $ 2,527 $ 1,966 $ 1,270 $ 847 Net gains recognized on marketable securities sold during the period 1 — 1 1 Gains on marketable securities, net $ 2,528 $ 1,966 $ 1,271 $ 848 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 in 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, 2022 2021 Cash and cash equivalents $ 2,081 $ 1,096 Restricted cash and cash equivalents 201 127 Investments and restricted cash, cash equivalents and investments 19 21 Total cash and cash equivalents and restricted cash and cash equivalents $ 2,301 $ 1,244 |
EEGH | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Investments and Restricted Cash, 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, 2022 2021 Investments: Investment funds $ 13 $ 13 Equity method investments: Iroquois 406 399 Total investments 419 412 Restricted cash and cash equivalents: Customer deposits 25 17 Total restricted cash and cash equivalents 25 17 Total investments and restricted cash and cash equivalents $ 444 $ 429 Reflected as: Current assets $ 25 $ 17 Noncurrent assets 419 412 Total investments and restricted cash and cash equivalents $ 444 $ 429 Equity Method Investments Eastern Energy Gas, through a subsidiary, owns 50% of Iroquois, which owns and operates an interstate natural gas pipeline located in the states of New York and Connecticut. As of both June 30, 2022 and December 31, 2021, 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 $23 million and $20 million for the six-month periods ended June 30, 2022 and 2021, 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 in 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, 2022 2021 Cash and cash equivalents $ 106 $ 22 Restricted cash and cash equivalents included in other current assets 25 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 131 $ 39 |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Jun. 30, 2022 | |
EEGH | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory MattersIn September 2021, Eastern Gas Transmission and Storage, Inc. ("EGTS") filed a general rate case for its FERC-jurisdictional services, with proposed rates to be effective November 1, 2021. EGTS' previous general rate case was settled in 1998. EGTS proposed an annual cost-of-service of approximately $1.1 billion, and requested increases in various rates, including general system storage rates by 85% and general system transportation rates by 60%. In October 2021, the FERC issued an order that accepted the November 1, 2021 effective date for certain changes in rates, while suspending the other changes for five months following the proposed effective date, until April 1, 2022, subject to refund and the outcome of hearing procedures. In June 2022, the parties reached an agreement in principle and the litigation procedural schedule was ordered held in abeyance for 90 days to enable the parties to finalize a settlement. The settlement is expected to be filed by September 30, 2022. As of June 30, 2022, EGTS' provision for rate refund for April 2022 through June 2022 totaled $35 million and was included in other current liabilities on the Consolidated Balance Sheet. In July 2017, the FERC audit staff communicated to EGTS that it had substantially completed an audit of EGTS' compliance with the accounting and reporting requirements of the FERC's Uniform System of Accounts and provided a description of matters and preliminary recommendations. In November 2017, the FERC audit staff issued its audit report. In December 2017, EGTS provided its response to the audit report. EGTS requested FERC review of the contested findings and submitted its plan for compliance with the uncontested portions of the report. EGTS reached resolution of certain matters with the FERC in the fourth quarter of 2018. EGTS recognized a charge for a disallowance of plant, originally established beginning in 2012, for the resolution of one matter with the FERC. In December 2020, the FERC issued a final ruling on the remaining matter, which resulted in a $43 million ($31 million after-tax) estimated charge for disallowance of capitalized allowance for funds used during construction. As a condition of the December 2020 ruling, EGTS filed its proposed accounting entries and supporting documentation with the FERC during the second quarter of 2021. During the finalization of these entries, EGTS refined the estimated charge for disallowance of capitalized allowance for funds used during construction, which resulted in a reduction to the estimated charge of $11 million ($8 million after-tax) that was recorded in operations and maintenance expense in its Consolidated Statements of Operations in the second quarter of 2021. In September 2021, the FERC approved EGTS' accounting entries and supporting documentation. |
Recent Financing Transactions
Recent Financing Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In June 2022, Sierra Pacific purchased $60 million of its variable-rate tax-exempt Gas & Water Facilities Refunding Revenue Bonds, Series 2016B, due 2036, as required by the bond indenture. Sierra Pacific is holding this bond and can re-offer it at a future date. In May 2022, Sierra Pacific issued $250 million of 4.71% General and Refunding Mortgage bonds, Series W, due 2052. The net proceeds were used to repay the outstanding $200 million unsecured loan with NV Energy, Inc., repay amounts outstanding under its existing revolving credit facility and for general corporate purposes. In April 2022, BHE issued $1 billion of its 4.6% Senior Notes due 2053 and used the net proceeds for general corporate purposes, which included repaying a portion of BHE's outstanding commercial paper obligations and redeeming a portion of its 4.00% Perpetual Preferred Stock issued to certain subsidiaries of Berkshire Hathaway. In April 2022, Sierra Pacific purchased the following series of bonds that were held by the public: $30 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016C, due 2036; $25 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016D, due 2036; $25 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016E, due 2036; $75 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016F, due 2036; $20 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016G, due 2036; and $30 million of its variable-rate tax-exempt Pollution Control Refunding Revenue Bonds, Series 2016B, due 2029. Sierra Pacific purchased these bonds as required by the bond indentures. Sierra Pacific is holding these bonds and can re-offer them at a future date. In April 2022, Northern Powergrid (Northeast) plc issued £350 million of its 3.25% bonds due 2052 and used the net proceeds for general corporate purposes. In January 2022, Nevada Power entered into a $300 million secured delayed draw term loan facility maturing in January 2024. Amounts borrowed under the facility bear interest at variable rates based on the Secured Overnight Financing Rate ("SOFR") or a base rate, at Nevada Power's option, plus a pricing margin. In January 2022, Nevada Power borrowed $200 million under the facility at an initial interest rate of 0.55%. In May 2022, Nevada Power drew the remaining $100 million available under the facility at an initial interest rate of 1.24%. Nevada Power used the proceeds to repay amounts outstanding under its existing secured credit facility and for general corporate purposes. Credit Facilities In June 2022, BHE amended and restated its existing $3.5 billion unsecured credit facility expiring in June 2024. The amendment extended the expiration date to June 2025 and amended pricing from the London Interbank Offered Rate ("LIBOR") to SOFR. In June 2022, PacifiCorp amended and restated its existing $1.2 billion unsecured credit facility expiring in June 2024. The amendment extended the expiration date to June 2025 and amended pricing from LIBOR to SOFR. In June 2022, MidAmerican Energy amended and restated its existing $1.5 billion unsecured credit facility expiring in June 2024. The amendment extended the expiration date to June 2025 and amended pricing from LIBOR to SOFR. In June 2022, Nevada Power and Sierra Pacific each amended and restated its existing $400 million and $250 million secured credit facilities expiring in June 2024. The amendments extended the expiration date to June 2025 and amended pricing from LIBOR to SOFR. |
PAC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Credit Facilities In June 2022, PacifiCorp amended and restated its existing $1.2 billion unsecured credit facility expiring in June 2024. The amendment extended the expiration date to June 2025 and amended pricing from the London Interbank Offered Rate to the Secured Overnight Financing Rate. Common Shareholders' Equity In May 2022, PacifiCorp declared a common stock dividend of $100 million, paid in June 2022, to PPW Holdings LLC. |
MEC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Credit Facilities In June 2022, MidAmerican Energy amended and restated its existing $1.5 billion unsecured credit facility expiring in June 2024. The amendment extended the expiration date to June 2025 and amended pricing from the London Interbank Offered Rate to the Secured Overnight Financing Rate. |
MidAmerican Funding, LLC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing TransactionsRefer to Note 4 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In January 2022, Nevada Power entered into a $300 million secured delayed draw term loan facility maturing in January 2024. Amounts borrowed under the facility bear interest at variable rates based on the Secured Overnight Financing Rate ("SOFR") or a base rate, at Nevada Power's option, plus a pricing margin. In January 2022, Nevada Power borrowed $200 million under the facility at an initial interest rate of 0.55%. In May 2022, Nevada Power drew the remaining $100 million available under the facility at an initial interest rate of 1.24%. Nevada Power used the proceeds to repay amounts outstanding under its existing secured credit facility and for general corporate purposes. Credit Facilities In June 2022, Nevada Power amended and restated its existing $400 million secured credit facility expiring in June 2024. The amendment extended the expiration date to June 2025 and amended pricing from the London Interbank Offered Rate to SOFR. |
SPPC | |
Debt Instrument [Line Items] | |
Recent Financing Transactions | Recent Financing Transactions Long-Term Debt In June 2022, Sierra Pacific purchased $60 million of its variable-rate tax-exempt Gas & Water Facilities Refunding Revenue Bonds, Series 2016B, due 2036, as required by the bond indenture. Sierra Pacific is holding this bond and can re-offer it at a future date. In May 2022, Sierra Pacific issued $250 million of 4.71% General and Refunding Mortgage bonds, Series W, due 2052. The net proceeds were used to repay the outstanding $200 million unsecured loan with NV Energy, Inc., repay amounts outstanding under its existing revolving credit facility and for general corporate purposes. In April 2022, Sierra Pacific entered into a $200 million unsecured loan with NV Energy payable upon demand. The net proceeds were used to purchase certain tax-exempt refunding revenue bond obligations that were subject to mandatory purchase by Sierra Pacific in April 2022. The loan has an underlying variable interest rate based on 30-day U.S. dollar deposits offered on the London Interbank Offer Rate ("LIBOR") market plus a spread of 0.75%. In April 2022, Sierra Pacific purchased the following series of bonds that were held by the public: $30 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016C, due 2036; $25 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016D, due 2036; $25 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016E, due 2036; $75 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016F, due 2036; $20 million of its variable-rate tax-exempt Water Facilities Refunding Revenue Bonds, Series 2016G, due 2036; and $30 million of its variable-rate tax-exempt Pollution Control Refunding Revenue Bonds, Series 2016B, due 2029. Sierra Pacific purchased these bonds as required by the bond indentures. Sierra Pacific is holding these bonds and can re-offer them at a future date. Credit Facilities In June 2022, Sierra Pacific amended and restated its existing $250 million secured credit facility expiring in June 2024. The amendment extended the expiration date to June 2025 and amended pricing from LIBOR to the Secured Overnight Financing Rate. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2022 | |
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 benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (13) (13) (28) (27) State income tax, net of federal income tax impacts (1) 4 — 2 Income tax effect of foreign income — 3 (1) 3 Effects of ratemaking (1) (2) (2) (4) Equity income (1) — (1) (2) Noncontrolling interest (1) (1) (2) (2) Other, net 1 — — 1 Effective income tax rate 5 % 12 % (13) % (8) % Income tax credits relate primarily to PTCs from wind-powered generating facilities owned by MidAmerican Energy, PacifiCorp and BHE Renewables. 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 for the six-month periods ended June 30, 2022 and 2021 totaled $734 million and $678 million, respectively. Income tax effect on foreign income includes, among other items, a deferred income tax charge of $109 million recognized in June 2021 upon the enactment of an increase in the United Kingdom's corporate income tax rate from 19% to 25% effective April 1, 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, 2022 and 2021 totaling $1,249 million and $943 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 income before income tax benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit 4 4 3 4 Federal income tax credits (25) (19) (21) (19) Effects of ratemaking (1) (13) (15) (11) (14) Valuation allowance — — 4 — Other 2 — 1 — Effective income tax rate (11) % (9) % (3) % (8) % (1) Effects of ratemaking is primarily attributable to activity associated with excess deferred income taxes. Income tax credits relate primarily to production tax credits ("PTCs") earned by 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 for the three-month periods ended June 30, 2022 and 2021 totaled $18 million and $40 million, respectively. PTCs for the six-month periods ended June 30, 2022 and 2021 totaled $44 million and $71 million, respectively. For the six-month period ended June 30, 2022 PacifiCorp recorded a valuation allowance related to state net operating loss carryforwards. Berkshire Hathaway includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, PacifiCorp's provision for federal and state income tax has been computed on a stand-alone basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For the six-month periods ended June 30, 2022 and 2021, PacifiCorp received net cash payments for federal and state income tax from BHE totaling $150 million and $93 million, respectively. |
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 benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (973) (271) (682) (634) State income tax, net of federal income tax impacts (26) (31) (23) (32) Effects of ratemaking (11) (15) (9) (21) Other, net — 2 2 — Effective income tax rate (989) % (294) % (691) % (666) % Income tax credits relate primarily to production tax credits ("PTCs") from MidAmerican Energy'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. MidAmerican Energy recognizes its renewable electricity PTCs throughout the year based on when the credits are earned and excludes them from the annual effective tax rate that is the basis for the interim recognition of other income tax expense. Wind-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs for the six-month periods ended June 30, 2022 and 2021 totaled $388 million and $297 million, respectively. |
MidAmerican Funding, LLC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to MidAmerican Funding's effective income tax rate applicable to income before income tax benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (1,150) (286) (793) (764) State income tax, net of federal income tax impacts (38) (33) (29) (41) Effects of ratemaking (12) (16) (10) (26) Other, net 4 — 3 — Effective income tax rate (1,175) % (314) % (808) % (810) % Income tax credits relate primarily to production tax credits ("PTCs") from MidAmerican Energy'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. MidAmerican Funding recognizes its renewable electricity PTCs throughout the year based on when the credits are earned and excludes them from the annual effective tax rate that is the basis for the interim recognition of other income tax expense. Wind-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs for the six-month periods ended June 30, 2022 and 2021 totaled $388 million and $297 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 $544 million and $560 million for the six-month periods ended June 30, 2022 and 2021. 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 benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (10) (11) (10) (11) Other 1 — 1 — Effective income tax rate 12 % 10 % 12 % 10 % Effects of ratemaking is primarily attributable to the recognition of excess deferred income taxes related to the 2017 Tax Cuts and Jobs Act pursuant to an order issued by the PUCN effective January 1, 2021. Berkshire Hathaway includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, Nevada Power's provision for federal income tax has been computed on a separate return basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For the six-month period ended June 30, 2022, Nevada Power received net cash payments for federal income tax from BHE totaling $21 million. For the six-month period ended June 30, 2021, Nevada Power made net cash payments for federal income tax to BHE totaling $15 million. |
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 is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (8) (11) (7) (9) Income tax credits — (1) — — Other — (3) 1 (2) Effective income tax rate 13 % 6 % 15 % 10 % Effects of ratemaking is primarily attributable to the recognition of excess deferred income taxes related to the 2017 Tax Cuts and Jobs Act pursuant to an order issued by the PUCN effective January 1, 2020. Berkshire Hathaway includes BHE and its subsidiaries in its U.S. federal income tax return. Consistent with established regulatory practice, Sierra Pacific's provision for federal income tax has been computed on a separate return basis, and substantially all of its currently payable or receivable income tax is remitted to or received from BHE. For the six-month periods ended June 30, 2022 and 2021, Sierra Pacific made no net cash payments for federal income tax to BHE. |
EEGH | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit 3 2 4 3 Equity interest 1 1 1 1 Effects of ratemaking — (1) (2) (1) Noncontrolling interest (10) (12) (10) (11) Other, net — 2 — — Effective income tax rate 15 % 13 % 14 % 13 % For the period ended June 30, 2022, Eastern Energy Gas' reconciliation of the federal statutory income tax rate to the effective income tax rate is driven primarily by an absence of tax on income attributable to Cove Point's 75% noncontrolling interest. |
Employee Benefit Plans
Employee Benefit Plans | 6 Months Ended |
Jun. 30, 2022 | |
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, 2022 2021 2022 2021 Pension: Service cost $ 6 $ 8 $ 13 $ 15 Interest cost 19 18 38 38 Expected return on plan assets (27) (36) (54) (69) Settlement — — 2 — Net amortization 5 7 9 13 Net periodic benefit cost (credit) $ 3 $ (3) $ 8 $ (3) Other postretirement: Service cost $ 4 $ 4 $ 6 $ 6 Interest cost 5 5 10 10 Expected return on plan assets (7) (6) (14) (11) Net amortization (1) (1) (1) (2) Net periodic benefit cost $ 1 $ 2 $ 1 $ 3 Amounts other than the service cost for pension and other postretirement benefit plans are recorded in Other, net in 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 2022. As of June 30, 2022, $7 million and $5 million of contributions had been made to the domestic pension and other postretirement benefit plans, respectively. Foreign Operations Net periodic benefit credit for the United Kingdom pension plan included the following components (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Service cost $ 3 $ 4 $ 7 $ 8 Interest cost 9 7 19 15 Expected return on plan assets (23) (28) (48) (56) Net amortization 6 14 12 28 Net periodic benefit credit $ (5) $ (3) $ (10) $ (5) Amounts other than the service cost for the United Kingdom pension plan are recorded in Other, net in the Consolidated Statements of Operations. Employer contributions to the United Kingdom pension plan are expected to be £12 million during 2022. As of June 30, 2022, £6 million, or $8 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, 2022 2021 2022 2021 Pension: Service cost $ — $ — $ — $ — Interest cost 7 7 14 14 Expected return on plan assets (11) (14) (21) (27) Net amortization 4 5 8 10 Net periodic benefit cost (credit) $ — $ (2) $ 1 $ (3) Other postretirement: Service cost $ 1 $ 1 $ 1 $ 1 Interest cost 2 2 4 4 Expected return on plan assets (3) (2) (5) (4) Net amortization — — — — Net periodic benefit cost (credit) $ — $ 1 $ — $ 1 |
MEC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans MidAmerican Energy sponsors a noncontributory defined benefit pension plan covering a majority of all employees of BHE and its domestic energy subsidiaries other than PacifiCorp and NV Energy, Inc. MidAmerican Energy also sponsors certain postretirement healthcare and life insurance benefits covering substantially all retired employees of BHE and its domestic energy subsidiaries other than PacifiCorp and NV Energy, Inc. Net periodic benefit cost 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, 2022 2021 2022 2021 Pension: Service cost $ 4 $ 5 $ 9 $ 10 Interest cost 5 5 10 11 Expected return on plan assets (7) (10) (14) (19) Settlement — — 2 — Net amortization 1 1 1 1 Net periodic benefit cost $ 3 $ 1 $ 8 $ 3 Other postretirement: Service cost $ 2 $ 2 $ 4 $ 4 Interest cost 2 2 4 4 Expected return on plan assets (3) (3) (7) (5) Net amortization (1) (1) (1) (2) Net periodic benefit cost $ — $ — $ — $ 1 Amounts other than the service cost for pension and other postretirement benefit plans are recorded in Other, net in the Statements of Operations. Employer contributions to the pension and other postretirement benefit plans are expected to be $7 million and $3 million, respectively, during 2022. As of June 30, 2022, $4 million and $2 million of contributions had been made to the pension and other postretirement benefit plans, respectively. |
MidAmerican Funding, LLC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit PlansRefer to Note 6 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Nevada Power is a participant in benefit plans sponsored by NV Energy. The NV Energy Retirement Plan includes a qualified pension plan ("Qualified Pension Plan") and a supplemental executive retirement plan and a restoration plan (collectively, "Non‑Qualified Pension Plans") that provide pension benefits for eligible employees. The NV Energy Comprehensive Welfare Benefit and Cafeteria Plan provides certain postretirement health care and life insurance benefits for eligible retirees ("Other Postretirement Plans") on behalf of Nevada Power. Amounts attributable to Nevada Power were allocated from NV Energy based upon the current, or in the case of retirees, previous, employment location. Offsetting regulatory assets and liabilities have been recorded related to the amounts not yet recognized as a component of net periodic benefit costs that will be included in regulated rates. Net periodic benefit costs not included in regulated rates are included in accumulated other comprehensive loss, net. Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following (in millions): As of June 30, December 31, 2022 2021 Qualified Pension Plan: Other non-current assets $ 42 $ 42 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (8) (8) Other Postretirement Plans: Other non-current assets 8 8 |
SPPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Sierra Pacific is a participant in benefit plans sponsored by NV Energy. The NV Energy Retirement Plan includes a qualified pension plan ("Qualified Pension Plan") and a supplemental executive retirement plan and a restoration plan (collectively, "Non‑Qualified Pension Plans") that provide pension benefits for eligible employees. The NV Energy Comprehensive Welfare Benefit and Cafeteria Plan provides certain postretirement health care and life insurance benefits for eligible retirees ("Other Postretirement Plans") on behalf of Sierra Pacific. Sierra Pacific contributed $2 million to the Other Postretirement Plans for the six-month period ended June 30, 2022. 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, 2022 2021 Qualified Pension Plan: Other non-current assets $ 64 $ 62 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (7) (7) Other Postretirement Plans: Other long-term liabilities (8) (10) |
EEGH | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit PlansEastern Energy Gas is a participant in benefit plans sponsored by MidAmerican Energy Company ("MidAmerican Energy"), an affiliate. The MidAmerican Energy Company Retirement Plan includes a qualified pension plan that provides pension benefits for eligible employees. The MidAmerican Energy Company Welfare Benefit Plan provides certain postretirement health care and life insurance benefits for eligible retirees on behalf of Eastern Energy Gas. Eastern Energy Gas contributed $6 million to the MidAmerican Energy Company Retirement Plan and $1 million to the MidAmerican Energy Company Welfare Benefit Plan for the six-month period ended June 30, 2022. 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 both June 30, 2022 and December 31, 2021, 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 $95 million. |
Risk Management and Hedging Act
Risk Management and Hedging Activities | 6 Months Ended |
Jun. 30, 2022 | |
PAC | |
Derivative [Line Items] | |
Risk Management and Hedging Activities | Risk Management and Hedging Activities PacifiCorp is exposed to the impact of market fluctuations in commodity prices and interest rates. PacifiCorp is principally exposed to electricity, natural gas, coal and fuel oil commodity price risk as it has an obligation to serve retail customer load in its service territories. PacifiCorp's load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity and wholesale electricity that is purchased and sold. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. Interest rate risk exists on variable-rate debt and future debt issuances. PacifiCorp does not engage in a material amount of proprietary trading activities. PacifiCorp has established a risk management process that is designed to identify, assess, manage and report on each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, PacifiCorp uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. PacifiCorp manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed-rate long-term debt and by monitoring market changes in interest rates. Additionally, PacifiCorp may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, to mitigate PacifiCorp's exposure to interest rate risk. No interest rate derivatives were in place during the periods presented. PacifiCorp does not hedge all of its commodity price and interest rate risks, thereby exposing the unhedged portion to changes in market prices. There have been no significant changes in PacifiCorp's accounting policies related to derivatives. Refer to Note 8 for additional information on derivative contracts. The following table, which reflects master netting arrangements and excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of PacifiCorp's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Derivative Contracts - Other Other Current Other Current Long-term Assets Assets Liabilities Liabilities Total As of June 30, 2022 Not designated as hedging contracts (1) : Commodity assets $ 183 $ 80 $ 9 $ — $ 272 Commodity liabilities (1) — (44) (4) (49) Total 182 80 (35) (4) 223 Total derivatives 182 80 (35) (4) 223 Cash collateral payable (55) (9) — — (64) Total derivatives - net basis $ 127 $ 71 $ (35) $ (4) $ 159 As of December 31, 2021 Not designated as hedging contracts (1) : Commodity assets $ 81 $ 21 $ 2 $ — $ 104 Commodity liabilities (5) (1) (38) (7) (51) Total 76 20 (36) (7) 53 Total derivatives 76 20 (36) (7) 53 Cash collateral receivable — — 5 — 5 Total derivatives - net basis $ 76 $ 20 $ (31) $ (7) $ 58 (1) PacifiCorp's commodity derivatives are generally included in rates. As of June 30, 2022 a regulatory liability of $223 million was recorded related to the net derivative asset of $223 million. As of December 31, 2021 a regulatory liability of $53 million was recorded related to the net derivative asset of $53 million. The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets, as well as amounts reclassified to earnings (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Beginning balance $ (195) $ — $ (53) $ 17 Changes in fair value recognized in regulatory assets (49) (102) (217) (119) Net losses reclassified to operating revenue (8) (5) (11) (5) Net gains reclassified to energy costs 29 5 58 5 Ending balance $ (223) $ (102) $ (223) $ (102) 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 2022 2021 Electricity purchases, net Megawatt hours 2 2 Natural gas purchases Decatherms 105 106 Credit Risk PacifiCorp is exposed to counterparty credit risk associated with wholesale energy supply and marketing activities with other utilities, energy marketing companies, financial institutions and other market participants. Credit risk may be concentrated to the extent PacifiCorp's counterparties have similar economic, industry or other characteristics and due to direct or indirect relationships among the counterparties. Before entering into a transaction, PacifiCorp analyzes the financial condition of each significant wholesale counterparty, establishes limits on the amount of unsecured credit to be extended to each counterparty and evaluates the appropriateness of unsecured credit limits on an ongoing basis. To further mitigate wholesale counterparty credit risk, PacifiCorp enters into netting and collateral arrangements that may include margining and cross-product netting agreements and obtains third‑party guarantees, letters of credit and cash deposits. If required, PacifiCorp exercises rights under these arrangements, including calling on the counterparty's credit support arrangement. Collateral and Contingent Features In accordance with industry practice, certain wholesale agreements, including derivative contracts, contain credit support provisions that in part base certain collateral requirements on credit ratings for senior unsecured debt as reported by one or more of the recognized credit rating agencies. These agreements may either specifically provide bilateral rights to demand cash or other security if credit exposures on a net basis exceed specified rating-dependent threshold levels ("credit-risk-related contingent features") or provide the right for counterparties to demand "adequate assurance" if there is a material adverse change in PacifiCorp's creditworthiness. These rights can vary by contract and by counterparty. As of June 30, 2022, PacifiCorp's credit ratings for its senior secured debt and its issuer credit ratings for senior unsecured debt from the recognized credit rating agencies were investment grade. The aggregate fair value of PacifiCorp's derivative contracts in liability positions with specific credit-risk-related contingent features totaled $47 million and $37 million as of June 30, 2022 and December 31, 2021, respectively, for which PacifiCorp had posted collateral of $— million and $5 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, 2022 and December 31, 2021, PacifiCorp would have been required to post $33 million and $23 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, natural gas and coal market fluctuations primarily through Nevada Power's obligation to serve retail customer load in its regulated service territory. Nevada Power's load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity and wholesale electricity that is purchased and sold. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. The actual cost of fuel and purchased power is recoverable through the deferred energy mechanism. Interest rate risk exists on variable-rate debt and future debt issuances. Nevada Power does not engage in proprietary trading activities. Nevada Power has established a risk management process that is designed to identify, assess, manage and report on each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, Nevada Power uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. Nevada Power manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed-rate long-term debt and by monitoring market changes in interest rates. Additionally, Nevada Power may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, to mitigate Nevada Power's exposure to interest rate risk. Nevada Power does not hedge all of its commodity price and interest rate risks, thereby exposing the unhedged portion to changes in market prices. There have been no significant changes in Nevada Power's accounting policies related to derivatives. Refer to Note 8 for additional information on derivative contracts. The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Nevada Power's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Derivative Other Contracts - Other Current Other Current Long-term Assets Assets Liabilities Liabilities Total As of June 30, 2022 Not designated as hedging contracts (1) : Commodity assets $ — $ 1 $ — $ — $ 1 Commodity liabilities — — (122) (54) (176) Total derivative - net basis $ — $ 1 $ (122) $ (54) $ (175) As of December 31, 2021 Not designated as hedging contracts (1) : Commodity assets $ 4 $ — $ — $ — $ 4 Commodity liabilities — — (55) (62) (117) Total derivative - net basis $ 4 $ — $ (55) $ (62) $ (113) (1) Nevada Power's commodity derivatives not designated as hedging contracts are included in regulated rates. As of June 30, 2022 a regulatory asset of $175 million was recorded related to the net derivative liability of $175 million. As of December 31, 2021 a regulatory asset of $113 million was recorded related to the net derivative liability of $113 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 2022 2021 Electricity purchases Megawatt hours 3 1 Natural gas purchases Decatherms 113 119 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, 2022, Nevada Power's credit ratings for its senior secured debt and its issuer credit ratings for senior unsecured debt from the recognized credit rating agencies were investment grade. |
SPPC | |
Derivative [Line Items] | |
Risk Management and Hedging Activities | Risk Management and Hedging Activities Sierra Pacific is exposed to the impact of market fluctuations in commodity prices and interest rates. Sierra Pacific is principally exposed to electricity, natural gas and coal market fluctuations primarily through Sierra Pacific's obligation to serve retail customer load in its regulated service territory. Sierra Pacific's load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity and wholesale electricity that is purchased and sold. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. The actual cost of fuel and purchased power is recoverable through the deferred energy mechanism. Interest rate risk exists on variable-rate debt and future debt issuances. Sierra Pacific does not engage in proprietary trading activities. Sierra Pacific has established a risk management process that is designed to identify, assess, manage and report on each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, Sierra Pacific uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. Sierra Pacific manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed-rate long-term debt and by monitoring market changes in interest rates. Additionally, Sierra Pacific may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, to mitigate Sierra Pacific's exposure to interest rate risk. Sierra Pacific does not hedge all of its commodity price and interest rate risks, thereby exposing the unhedged portion to changes in market prices. There have been no significant changes in Sierra Pacific's accounting policies related to derivatives. Refer to Note 8 for additional information on derivative contracts. The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Sierra Pacific's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Derivative Other Contracts - Other Current Other Current Long-term Assets Assets Liabilities Liabilities Total As of June 30, 2022 Not designated as hedging contracts (1) : Commodity assets $ — $ 1 $ — $ — $ 1 Commodity liabilities — — (38) (17) (55) Total derivative - net basis $ — $ 1 $ (38) $ (17) $ (54) As of December 31, 2021 Not designated as hedging contracts (1) : Commodity assets $ 2 $ — $ — $ — $ 2 Commodity liabilities — — (16) (19) (35) Total derivative - net basis $ 2 $ — $ (16) $ (19) $ (33) (1) Sierra Pacific's commodity derivatives not designated as hedging contracts are included in regulated rates. As of June 30, 2022 a net regulatory asset of $54 million was recorded related to the net derivative liability of $54 million. As of December 31, 2021 a net regulatory asset of $33 million was recorded related to the net derivative liability of $33 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 2022 2021 Electricity purchases Megawatt hours 1 1 Natural gas purchases Decatherms 50 53 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, 2022, 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 as of June 30, 2022 and December 31, 2021, 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, 2022 | |
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, 2022: Assets: Commodity derivatives $ 11 $ 660 $ 77 $ (164) $ 584 Interest rate derivatives 16 45 24 — 85 Mortgage loans held for sale — 1,084 — — 1,084 Money market mutual funds 1,492 — — — 1,492 Debt securities: U.S. government obligations 220 — — — 220 International government obligations — 1 — — 1 Corporate obligations — 75 — — 75 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 348 — — — 348 International companies 9,011 — — — 9,011 Investment funds 258 — — — 258 $ 11,356 $ 1,869 $ 101 $ (164) $ 13,162 Liabilities: Commodity derivatives $ (14) $ (211) $ (255) $ 77 $ (403) Foreign currency exchange rate derivatives — (19) — — (19) Interest rate derivatives — (6) (3) — (9) $ (14) $ (236) $ (258) $ 77 $ (431) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2021: Assets: Commodity derivatives $ 5 $ 271 $ 73 $ (47) $ 302 Foreign currency exchange rate derivatives — 3 — — 3 Interest rate derivatives 1 3 20 — 24 Mortgage loans held for sale — 1,263 — — 1,263 Money market mutual funds 554 — — — 554 Debt securities: U.S. government obligations 232 — — — 232 International government obligations — 2 — — 2 Corporate obligations — 90 — — 90 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 2 — — 2 Equity securities: U.S. companies 428 — — — 428 International companies 7,703 — — — 7,703 Investment funds 237 — — — 237 $ 9,160 $ 1,637 $ 93 $ (47) $ 10,843 Liabilities: Commodity derivatives $ (2) $ (113) $ (224) $ 73 $ (266) Foreign currency exchange rate derivatives — (3) — — (3) Interest rate derivatives — (7) (1) — (8) $ (2) $ (123) $ (225) $ 73 $ (277) (1) Represents netting under master netting arrangements and a net cash collateral payable of $87 million and receivable of $26 million as of June 30, 2022 and December 31, 2021, 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 2022: Beginning balance $ (239) $ 13 $ (151) $ 19 Changes included in earnings (1) (26) 8 (82) 2 Changes in fair value recognized in OCI 5 — 10 — Changes in fair value recognized in net regulatory assets 1 — (59) — Purchases 1 — 1 — Settlements 11 — 34 — Transfers out of Level 3 into Level 2 69 — 69 — Ending balance $ (178) $ 21 $ (178) $ 21 2021: Beginning balance $ 124 $ 41 $ 116 $ 62 Changes included in earnings (1) (10) — (16) (21) Changes in fair value recognized in OCI (6) — (7) — Changes in fair value recognized in net regulatory assets (7) — 9 — Purchases 1 — 1 — Settlements 3 — 2 — Ending balance $ 105 $ 41 $ 105 $ 41 (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, including fair value adjustments and unamortized premiums, discounts and debt issuance costs as applicable, 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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 51,117 $ 48,636 $ 49,762 $ 57,189 |
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, 2022: Assets: Commodity derivatives $ — $ 272 $ — $ (74) $ 198 Money market mutual funds 374 — — — 374 Investment funds 26 — — — 26 $ 400 $ 272 $ — $ (74) $ 598 Liabilities - Commodity derivatives $ — $ (49) $ — $ 10 $ (39) As of December 31, 2021: Assets: Commodity derivatives $ — $ 104 $ — $ (8) $ 96 Money market mutual funds 181 — — — 181 Investment funds 27 — — — 27 $ 208 $ 104 $ — $ (8) $ 304 Liabilities - Commodity derivatives $ — $ (51) $ — $ 13 $ (38) (1) Represents netting under master netting arrangements and a net cash collateral payable of $64 million and a net cash collateral receivable of $5 million as of June 30, 2022 and December 31, 2021, 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 PacifiCorp transacts. When quoted prices for identical contracts are not available, PacifiCorp uses forward price curves. Forward price curves represent PacifiCorp's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. PacifiCorp bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent energy brokers, exchanges, direct communication with market participants and actual transactions executed by PacifiCorp. Market price quotations for certain major electricity and natural gas trading hubs are generally readily obtainable for the first three years; therefore, PacifiCorp's forward price curves for those locations and periods reflect observable market quotes. Market price quotations for other electricity and natural gas trading hubs are not as readily obtainable for the first three years. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, PacifiCorp uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The estimated fair value of these derivative contracts is a function of underlying forward commodity prices, interest rates, currency rates, related volatility, counterparty creditworthiness and duration of contracts. Refer to Note 7 for further discussion regarding PacifiCorp's risk management and hedging activities. PacifiCorp's investments in money market mutual funds and investment funds are stated at fair value. When available, PacifiCorp uses a readily observable quoted market price or net asset value of an identical security in an active market to record the fair value. In the absence of a quoted market price or net asset value of an identical security, the fair value is determined using pricing models or net asset values based on observable market inputs and quoted market prices of securities with similar characteristics. PacifiCorp's long-term debt is carried at cost on the Consolidated Balance Sheets. The fair value of PacifiCorp's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of PacifiCorp's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of PacifiCorp's long-term debt (in millions): As of June 30, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 8,723 $ 8,555 $ 8,730 $ 10,374 |
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, 2022: Assets: Commodity derivatives $ 1 $ 66 $ 28 $ (22) $ 73 Money market mutual funds 498 — — — 498 Debt securities: U.S. government obligations 220 — — — 220 International government obligations — 1 — — 1 Corporate obligations — 75 — — 75 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 348 — — — 348 International companies 8 — — — 8 Investment funds 21 — — — 21 $ 1,096 $ 146 $ 28 $ (22) $ 1,248 Liabilities - commodity derivatives $ (1) $ (10) $ (2) $ 7 $ (6) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2021: Assets: Commodity derivatives $ — $ 32 $ 3 $ (7) $ 28 Money market mutual funds 228 — — — 228 Debt securities: U.S. government obligations 232 — — — 232 International government obligations — 2 — — 2 Corporate obligations — 90 — — 90 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 2 — — 2 Equity securities: U.S. companies 428 — — — 428 International companies 10 — — — 10 Investment funds 18 — — — 18 $ 916 $ 129 $ 3 $ (7) $ 1,041 Liabilities - commodity derivatives $ — $ (6) $ (8) $ 12 $ (2) (1) Represents netting under master netting arrangements and a net cash collateral payable of $15 million as of June 30, 2022 and a net cash collateral receivable of $5 million as of December 31, 2021. 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, 2022 2021 2022 2021 Beginning balance $ 4 $ 1 $ (5) $ 2 Changes in fair value recognized in regulatory assets 31 — 44 — Settlements (9) (2) (13) (3) Ending balance $ 26 $ (1) $ 26 $ (1) 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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Long-term debt $ 7,725 $ 7,376 $ 7,721 $ 9,037 |
MidAmerican Funding, LLC | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements Refer to Note 7 of MidAmerican Energy's Notes to Financial Statements. MidAmerican Funding's long-term debt is carried at cost on the Consolidated Financial Statements. The fair value of MidAmerican Funding's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of MidAmerican Funding's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of MidAmerican Funding's long-term debt (in millions): As of June 30, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Long-term debt $ 7,965 $ 7,646 $ 7,961 $ 9,350 |
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 Balance Sheets 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 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, 2022: Assets: Commodity derivatives $ — $ — $ 1 $ 1 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 1 $ 38 Liabilities - commodity derivatives $ — $ — $ (176) $ (176) As of December 31, 2021: Assets: Commodity derivatives $ — $ — $ 4 $ 4 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 4 $ 41 Liabilities - commodity derivatives $ — $ — $ (117) $ (117) 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, 2022 and December 31, 2021, 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, 2022 2021 2022 2021 Beginning balance $ (168) $ 27 $ (113) $ 15 Changes in fair value recognized in regulatory assets (21) (6) (77) 5 Settlements 14 4 15 5 Ending balance $ (175) $ 25 $ (175) $ 25 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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 2,800 $ 2,807 $ 2,499 $ 3,067 |
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 Balance Sheets 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 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, 2022: Assets: Commodity derivatives $ — $ — $ 1 $ 1 Money market mutual funds 14 — — 14 Investment funds 1 — — 1 $ 15 $ — $ 1 $ 16 Liabilities - commodity derivatives $ — $ — $ (55) $ (55) As of December 31, 2021: Assets: Commodity derivatives $ — $ — $ 2 $ 2 Money market mutual funds 10 — — 10 Investment funds 1 — — 1 $ 11 $ — $ 2 $ 13 Liabilities - commodity derivatives $ — $ — $ (35) $ (35) 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, 2022 2021 2022 2021 Beginning balance $ (52) $ 12 $ (33) $ 7 Changes in fair value recognized in regulatory assets (7) (1) (26) 4 Settlements 5 1 5 1 Ending balance $ (54) $ 12 $ (54) $ 12 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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,148 $ 1,164 $ 1,164 $ 1,316 |
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, 2022: Assets: Money market mutual funds $ 66 $ — $ — $ 66 Equity securities: Investment funds 13 — — 13 $ 79 $ — $ — $ 79 Liabilities: Commodity derivatives $ — $ (1) $ — $ (1) Foreign currency exchange rate derivatives — (19) — (19) $ — $ (20) $ — $ (20) As of December 31, 2021: Assets: Foreign currency exchange rate derivatives $ — $ 3 $ — $ 3 Equity securities: Investment funds 13 — — 13 $ 13 $ 3 $ — $ 16 Liabilities: Foreign currency exchange rate derivatives $ — $ (3) $ — $ (3) $ — $ (3) $ — $ (3) 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, including unamortized premiums, discounts and debt issuance costs as applicable, on the Consolidated Financial Statements. The fair value of Eastern Energy Gas' long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of Eastern Energy Gas' variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of Eastern Energy Gas' long-term debt (in millions): As of June 30, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,886 $ 3,656 $ 3,906 $ 4,266 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Construction Commitments During the six-month period ended June 30, 2022, PacifiCorp entered into a procurement and construction services agreement for $849 million through 2024 for the construction of a key Energy Gateway Transmission segment extending between the Aeolus substation near Medicine Bow, Wyoming and the Clover substation near Mona, Utah. Fuel Contracts During the six-month period ended June 30, 2022, PacifiCorp entered into certain coal supply and transportation agreements totaling approximately $200 million through 2024. Legal Matters The Company is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. The Company does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. The Company is also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines, penalties and other costs in substantial amounts and are described below. 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, real and personal property and natural resource damage, personal injuries and loss of life and widespread power outages in Oregon and Northern California. The wildfires spread across certain parts of PacifiCorp's service territory and surrounding areas across multiple counties in Oregon and California, including Siskiyou County, California; Jackson County, Oregon; Douglas County, Oregon; Marion County, Oregon; Lincoln County, Oregon; and Klamath County, Oregon burning over 500,000 acres in aggregate. Third party reports for these wildfires indicate over 2,000 structures destroyed, including residences; several structures damaged; multiple individuals injured; and several fatalities. Fire suppression costs estimated by various agencies total approximately $150 million. Investigations into the cause and origin of each wildfire are complex and ongoing and being conducted by various entities, including the United States Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. Multiple lawsuits have been filed in Oregon and California, including a putative class action complaint in Oregon, on behalf of citizens and businesses who suffered damages from fires allegedly caused by PacifiCorp. Additionally, several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. The final determinations of liability, however, will only be made following comprehensive investigations and litigation processes. In California, under inverse condemnation, courts have held that investor-owned utilities can be liable for real and personal property damages 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 nevertheless be found liable for all damages proximately caused by negligence, including real and personal property and natural resource damage; fire suppression costs; personal injury and loss of life damages; and interest. During the three-month period ended June 30, 2022, PacifiCorp accrued $64 million of losses net of expected insurance recoveries associated with the 2020 Wildfires resulting in an overall loss accrual net of expected insurance recoveries of $200 million as of June 30, 2022 compared to $136 million as of December 31, 2021. These accruals include PacifiCorp's estimate of 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 are considered probable of being incurred and that it is reasonably able to estimate at this time. For certain aspects of the 2020 Wildfires for which loss is considered probable, information necessary to reasonably estimate the potential losses, such as those related to natural resource damages, is not currently available. It is reasonably possible that PacifiCorp will incur additional losses beyond the amounts accrued; however, PacifiCorp is currently unable to estimate the range of possible additional losses that could be incurred due to the number of properties and parties involved and the variation in those types of properties and lack of available details. To the extent losses beyond the amounts accrued are incurred, additional insurance coverage is expected to be available to cover at least a portion of the losses. PacifiCorp's receivable for expected insurance recoveries was $277 million as of June 30, 2022. Environmental Laws and Regulations The Company is subject to federal, state, local and foreign 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 the Company's current and future operations. The Company believes it is in material compliance with all applicable laws and regulations. Hydroelectric Relicensing PacifiCorp is a party to the 2016 amended Klamath Hydroelectric Settlement Agreement ("KHSA"), which is intended to resolve disputes surrounding PacifiCorp's efforts to relicense the Klamath Hydroelectric Project. The KHSA establishes a process for PacifiCorp, the states of Oregon and California ("States") and other stakeholders to assess whether dam removal can occur consistent with the settlement's terms. For PacifiCorp, the key elements of the settlement include: (1) a contribution from PacifiCorp's Oregon and California customers capped at $200 million plus $250 million in California bond funds; (2) complete indemnification from harms associated with dam removal; (3) transfer of the FERC license to a third-party dam removal entity, the Klamath River Renewal Corporation ("KRRC"), who would conduct dam removal; and (4) ability for PacifiCorp to operate the facilities for the benefit of customers until dam removal commences. In September 2016, the KRRC and PacifiCorp filed a joint application with the FERC to transfer the license for the four mainstem Klamath dams from PacifiCorp to the KRRC. The FERC approved partial transfer of the Klamath license in a July 2020 order, subject to the condition that PacifiCorp remains co-licensee. Under the amended KHSA, PacifiCorp did not agree to remain co-licensee during the surrender and removal process given concerns about liability protections for PacifiCorp and its customers. In November 2020, PacifiCorp entered a memorandum of agreement (the "MOA") with the KRRC, the Karuk Tribe, the Yurok Tribe and the States to continue implementation of the KHSA. The agreement required the States, PacifiCorp and KRRC to file a new license transfer application to remove PacifiCorp from the license for the Klamath Hydroelectric Project and add the States and KRRC as co-licensees for the purposes of surrender. In addition, the MOA provides for additional contingency funding of $45 million, equally split between PacifiCorp and the States, and for PacifiCorp and the States to equally share in any additional cost overruns in the unlikely event that dam removal costs exceed the $450 million in funding to ensure dam removal is complete. The MOA also requires PacifiCorp to cover the costs associated with certain pre-existing environmental conditions. In June 2021, the FERC approved transfer of the four mainstem Klamath dams from PacifiCorp to the KRRC and the States as co-licensees. In July 2021, the Oregon, Wyoming, Idaho and California state public utility commissions conditionally approved the required property transfer applications. In August 2021, PacifiCorp notified the Public Service Commission of Utah of the property transfer, however no formal approval is required in Utah. The transfer will be effective within 30 days following the issuance of a license surrender from the FERC for the project, which remains pending. In February 2022, the FERC staff issued a draft environmental impact statement for the project, concluding that dam removal is the preferred alternative. A final environmental impact statement is expected later in 2022. Guarantees The Company has entered into guarantees as part of the normal course of business and the sale of certain assets. These guarantees are not expected to have a material impact on the Company's consolidated financial results. |
PAC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Construction Commitments During the six-month period ended June 30, 2022, PacifiCorp entered into a procurement and construction services agreement for $849 million through 2024 for the construction of a key Energy Gateway Transmission segment extending between the Aeolus substation near Medicine Bow, Wyoming and the Clover substation near Mona, Utah. Fuel Contracts During the six-month period ended June 30, 2022, PacifiCorp entered into certain coal supply and transportation agreements totaling approximately $200 million through 2024. Legal Matters PacifiCorp is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. PacifiCorp does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. PacifiCorp is also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines, penalties and other costs in substantial amounts and are described below. 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, real and personal property and natural resource damage, personal injuries and loss of life and widespread power outages in Oregon and Northern California. The wildfires spread across certain parts of PacifiCorp's service territory and surrounding areas across multiple counties in Oregon and California, including Siskiyou County, California; Jackson County, Oregon; Douglas County, Oregon; Marion County, Oregon; Lincoln County, Oregon; and Klamath County, Oregon burning over 500,000 acres in aggregate. Third party reports for these wildfires indicate over 2,000 structures destroyed, including residences; several structures damaged; multiple individuals injured; and several fatalities. Fire suppression costs estimated by various agencies total approximately $150 million. Investigations into the cause and origin of each wildfire are complex and ongoing and being conducted by various entities, including the United States Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. Multiple lawsuits have been filed in Oregon and California, including a putative class action complaint in Oregon, on behalf of citizens and businesses who suffered damages from fires allegedly caused by PacifiCorp. Additionally, several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. The final determinations of liability, however, will only be made following comprehensive investigations and litigation processes. In California, under inverse condemnation, courts have held that investor-owned utilities can be liable for real and personal property damages 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 nevertheless be found liable for all damages proximately caused by negligence, including real and personal property and natural resource damage; fire suppression costs; personal injury and loss of life damages; and interest. During the three-month period ended June 30, 2022, PacifiCorp accrued $64 million of losses net of expected insurance recoveries associated with the 2020 Wildfires resulting in an overall loss accrual net of expected insurance recoveries of $200 million as of June 30, 2022 compared to $136 million as of December 31, 2021. These accruals include PacifiCorp's estimate of 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 are considered probable of being incurred and that it is reasonably able to estimate at this time. For certain aspects of the 2020 Wildfires for which loss is considered probable, information necessary to reasonably estimate the potential losses, such as those related to natural resource damages, is not currently available. It is reasonably possible that PacifiCorp will incur additional losses beyond the amounts accrued; however, PacifiCorp is currently unable to estimate the range of possible additional losses that could be incurred due to the number of properties and parties involved and the variation in those types of properties and lack of available details. To the extent losses beyond the amounts accrued are incurred, additional insurance coverage is expected to be available to cover at least a portion of the losses. PacifiCorp's receivable for expected insurance recoveries was $277 million as of June 30, 2022. Environmental Laws and Regulations PacifiCorp is subject to federal, state and local laws and regulations regarding air and water quality, renewable portfolio standards, emissions performance standards, climate change, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact PacifiCorp's current and future operations. PacifiCorp believes it is in material compliance with all applicable laws and regulations. Hydroelectric Relicensing PacifiCorp is a party to the 2016 amended Klamath Hydroelectric Settlement Agreement ("KHSA"), which is intended to resolve disputes surrounding PacifiCorp's efforts to relicense the Klamath Hydroelectric Project. The KHSA establishes a process for PacifiCorp, the states of Oregon and California ("States") and other stakeholders to assess whether dam removal can occur consistent with the settlement's terms. For PacifiCorp, the key elements of the settlement include: (1) a contribution from PacifiCorp's Oregon and California customers capped at $200 million plus $250 million in California bond funds; (2) complete indemnification from harms associated with dam removal; (3) transfer of the Federal Energy Regulatory Commission ("FERC") license to a third-party dam removal entity, the Klamath River Renewal Corporation ("KRRC"), who would conduct dam removal; and (4) ability for PacifiCorp to operate the facilities for the benefit of customers until dam removal commences. In September 2016, the KRRC and PacifiCorp filed a joint application with the FERC to transfer the license for the four mainstem Klamath dams from PacifiCorp to the KRRC. The FERC approved partial transfer of the Klamath license in a July 2020 order, subject to the condition that PacifiCorp remains co-licensee. Under the amended KHSA, PacifiCorp did not agree to remain co-licensee during the surrender and removal process given concerns about liability protections for PacifiCorp and its customers. In November 2020, PacifiCorp entered a memorandum of agreement (the "MOA") with the KRRC, the Karuk Tribe, the Yurok Tribe and the States to continue implementation of the KHSA. The agreement required the States, PacifiCorp and KRRC to file a new license transfer application to remove PacifiCorp from the license for the Klamath Hydroelectric Project and add the States and KRRC as co-licensees for the purposes of surrender. In addition, the MOA provides for additional contingency funding of $45 million, equally split between PacifiCorp and the States, and for PacifiCorp and the States to equally share in any additional cost overruns in the unlikely event that dam removal costs exceed the $450 million in funding to ensure dam removal is complete. The MOA also requires PacifiCorp to cover the costs associated with certain pre-existing environmental conditions. In June 2021, the FERC approved transfer of the four mainstem Klamath dams from PacifiCorp to the KRRC and the States as co-licensees. In July 2021, the Oregon, Wyoming, Idaho and California state public utility commissions conditionally approved the required property transfer applications. In August 2021, PacifiCorp notified the Public Service Commission of Utah of the property transfer, however no formal approval is required in Utah. The transfer will be effective within 30 days following the issuance of a license surrender from the FERC for the project, which remains pending. In February 2022, the FERC staff issued a draft environmental impact statement for the project, concluding that dam removal is the preferred alternative. A final environmental impact statement is expected later in 2022. 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 Legal Matters MidAmerican Energy is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. MidAmerican Energy does not believe that such normal and routine litigation will have a material impact on its financial results. Environmental Laws and Regulations MidAmerican Energy 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 its current and future operations. MidAmerican Energy believes it is in material compliance with all applicable laws and regulations. Transmission Rates MidAmerican Energy's wholesale transmission rates are set annually using Federal Energy Regulatory Commission ("FERC")-approved formula rates subject to true-up for actual cost of service. MidAmerican Energy is authorized by the FERC to include a 0.50% adder beyond the approved base return on equity ("ROE") effective January 2015. Prior to September 2016, the rates in effect were based on a 12.38% ROE. In November 2013 and February 2015, a coalition of intervenors filed successive complaints with the FERC requesting that the 12.38% ROE no longer be found just and reasonable and sought to reduce the base ROE to 9.15% and 8.67%, respectively. In September 2016, the FERC issued an order for the first complaint, which reduces the base ROE to 10.32% and required refunds, plus interest, for the period from November 2013 through February 2015. Customer refunds relative to the first complaint occurred in February 2017. In November 2019, the FERC issued an order addressing the second complaint and issues on appeal in the first complaint. The order established a ROE of 9.88% (10.38% including the 0.50% adder) for the 15-month refund period of the first complaint and prospectively from September 2016 forward. In May 2020, the FERC issued an order on rehearing of the November 2019 order. The May 2020 order affirmed the FERC's prior decision to dismiss the second complaint and established an ROE of 10.02% (10.52% including the 0.50% adder) for the 15-month refund period of the first complaint and prospectively from September 2016 to the date of the May 2020 order. These orders continue to be subject to judicial appeal. MidAmerican Energy cannot predict the ultimate outcome of these matters and, as of June 30, 2022, has accrued an $8 million liability for refunds of amounts collected under the higher ROE during the periods covered by both complaints. |
MidAmerican Funding, LLC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and ContingenciesMidAmerican Funding is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. MidAmerican Funding does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. Refer to Note 8 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Legal Matters Nevada Power is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. Nevada Power does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. 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. |
SPPC | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Legal Matters Sierra Pacific is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. Sierra Pacific does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. 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. |
EEGH | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Legal Matters Eastern Energy Gas is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. Eastern Energy Gas does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. Environmental Laws and Regulations Eastern Energy Gas is subject to federal, state and local laws and regulations regarding climate change, renewable portfolio standards, air and water quality, emissions performance standards, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact Eastern Energy Gas' current and future operations. Eastern Energy Gas believes it is in material compliance with all applicable laws and regulations. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2022 | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Energy Products and Services The following table summarizes the Company's energy products and services revenue from contracts with customers ("Customer Revenue") by regulated and nonregulated, with further disaggregation of regulated by line of business, including a reconciliation to the Company's reportable segment information included in Note 12 (in millions): For the Three-Month Period Ended June 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,167 $ 594 $ 831 $ — $ — $ — $ — $ (1) $ 2,591 Retail gas — 136 28 — — — — — 164 Wholesale 55 119 15 — — — — (2) 187 Transmission and 45 13 18 274 — 172 — — 522 Interstate pipeline — — — — 524 — — (27) 497 Other 28 — — — — — — — 28 Total Regulated 1,295 862 892 274 524 172 — (30) 3,989 Nonregulated — — 1 42 285 15 262 151 756 Total Customer Revenue 1,295 862 893 316 809 187 262 121 4,745 Other revenue 19 35 6 29 47 (4) 32 31 195 Total $ 1,314 $ 897 $ 899 $ 345 $ 856 $ 183 $ 294 $ 152 $ 4,940 For the Six-Month Period Ended June 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,352 $ 1,066 $ 1,430 $ — $ — $ — $ — $ (1) $ 4,847 Retail gas — 473 79 — — — — — 552 Wholesale 110 280 35 — — — — (2) 423 Transmission and 77 28 35 543 — 348 — — 1,031 Interstate pipeline — — — — 1,269 — — (68) 1,201 Other 48 — 1 — 1 — — — 50 Total Regulated 2,587 1,847 1,580 543 1,270 348 — (71) 8,104 Nonregulated — 2 1 57 563 22 431 284 1,360 Total Customer Revenue 2,587 1,849 1,581 600 1,833 370 431 213 9,464 Other revenue 24 53 11 60 58 (4) 30 67 299 Total $ 2,611 $ 1,902 $ 1,592 $ 660 $ 1,891 $ 366 $ 461 $ 280 $ 9,763 For the Three-Month Period Ended June 30, 2021 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,188 $ 516 $ 708 $ — $ — $ — $ — $ (1) $ 2,411 Retail gas — 89 20 — — — — — 109 Wholesale 30 69 10 — — — — (1) 108 Transmission and 37 15 22 243 — 178 — — 495 Interstate pipeline — — — — 458 — — (25) 433 Other 31 — 1 — (1) — — — 31 Total Regulated 1,286 689 761 243 457 178 — (27) 3,587 Nonregulated — 1 1 8 232 7 239 124 612 Total Customer Revenue 1,286 690 762 251 689 185 239 97 4,199 Other revenue 12 3 5 29 17 (3) 28 11 102 Total $ 1,298 $ 693 $ 767 $ 280 $ 706 $ 182 $ 267 $ 108 $ 4,301 For the Six-Month Period Ended June 30, 2021 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,333 $ 968 $ 1,219 $ — $ — $ — $ — $ (1) $ 4,519 Retail gas — 549 58 — — — — — 607 Wholesale 66 194 25 — 17 — — (1) 301 Transmission and 62 30 43 506 — 350 — — 991 Interstate pipeline — — — — 1,273 — — (66) 1,207 Other 54 — 1 — 1 — — — 56 Total Regulated 2,515 1,741 1,346 506 1,291 350 — (68) 7,681 Nonregulated — 11 1 18 469 15 405 311 1,230 Total Customer Revenue 2,515 1,752 1,347 524 1,760 365 405 243 8,911 Other revenue 25 8 11 56 39 (3) 52 51 239 Total $ 2,540 $ 1,760 $ 1,358 $ 580 $ 1,799 $ 362 $ 457 $ 294 $ 9,150 (1) The BHE and Other reportable segment represents amounts related principally to other entities, including MidAmerican Energy Services, LLC, 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, 2022 2021 2022 2021 Customer Revenue: Brokerage $ 1,544 $ 1,569 $ 2,636 $ 2,591 Franchise 17 24 37 42 Total Customer Revenue 1,561 1,593 2,673 2,633 Mortgage and other revenue 111 170 206 362 Total $ 1,672 $ 1,763 $ 2,879 $ 2,995 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, 2022, by reportable segment (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total BHE Pipeline Group $ 3,324 $ 21,878 $ 25,202 BHE Transmission 695 348 1,043 Total $ 4,019 $ 22,226 $ 26,245 |
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, 2022 2021 2022 2021 Customer Revenue: Retail: Residential $ 417 $ 429 $ 922 $ 912 Commercial 393 393 763 752 Industrial 277 282 550 553 Other retail 80 84 117 116 Total retail 1,167 1,188 2,352 2,333 Wholesale 55 30 110 66 Transmission 45 37 77 62 Other Customer Revenue 28 31 48 54 Total Customer Revenue 1,295 1,286 2,587 2,515 Other revenue 19 12 24 25 Total operating revenue $ 1,314 $ 1,298 $ 2,611 $ 2,540 |
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 10 (in millions): For the Three-Month Period Ended June 30, 2022 For the Six-Month Period Ended June 30, 2022 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 185 $ 87 $ — $ 272 $ 353 $ 312 $ — $ 665 Commercial 91 31 — 122 165 119 — 284 Industrial 277 9 — 286 475 18 — 493 Natural gas transportation services — 9 — 9 — 23 — 23 Other retail (1) 41 — — 41 73 1 — 74 Total retail 594 136 — 730 1,066 473 — 1,539 Wholesale 84 34 — 118 188 92 — 280 Multi-value transmission projects 13 — — 13 28 — — 28 Other Customer Revenue — — 1 1 — — 2 2 Total Customer Revenue 691 170 1 862 1,282 565 2 1,849 Other revenue 34 1 — 35 51 2 — 53 Total operating revenue $ 725 $ 171 $ 1 $ 897 $ 1,333 $ 567 $ 2 $ 1,902 For the Three-Month Period Ended June 30, 2021 For the Six-Month Period Ended June 30, 2021 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 170 $ 59 $ — $ 229 $ 331 $ 367 $ — $ 698 Commercial 80 18 — 98 151 147 — 298 Industrial 230 3 — 233 420 15 — 435 Natural gas transportation services — 9 — 9 — 19 — 19 Other retail (1) 36 — — 36 66 1 — 67 Total retail 516 89 — 605 968 549 — 1,517 Wholesale 52 17 — 69 126 68 — 194 Multi-value transmission projects 15 — — 15 30 — — 30 Other Customer Revenue — — 1 1 — — 11 11 Total Customer Revenue 583 106 1 690 1,124 617 11 1,752 Other revenue 3 — — 3 7 1 — 8 Total operating revenue $ 586 $ 106 $ 1 $ 693 $ 1,131 $ 618 $ 11 $ 1,760 (1) Other retail includes provisions for rate refunds, for which any actual refunds will be reflected in the applicable customer classes upon resolution of the related regulatory proceeding. |
MidAmerican Funding, LLC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with CustomersRefer to Note 9 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes Nevada Power's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Customer Revenue: Retail: Residential $ 353 $ 326 $ 566 $ 521 Commercial 131 110 226 194 Industrial 124 95 203 158 Other 3 3 4 6 Total fully bundled 611 534 999 879 Distribution only service 5 5 10 10 Total retail 616 539 1,009 889 Wholesale, transmission and other 18 15 34 29 Total Customer Revenue 634 554 1,043 918 Other revenue 5 5 11 11 Total revenue $ 639 $ 559 $ 1,054 $ 929 |
SPPC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes Sierra Pacific's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class, including a reconciliation to Sierra Pacific's reportable segment information included in Note 11 (in millions): Three-Month Periods Ended June 30, 2022 2021 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 79 $ 19 $ 98 $ 68 $ 13 $ 81 Commercial 82 6 88 64 5 69 Industrial 53 3 56 42 2 44 Other 1 — 1 1 — 1 Total fully bundled 215 28 243 175 20 195 Distribution only service 1 — 1 1 — 1 Total retail 216 28 244 176 20 196 Wholesale, transmission and other 14 — 14 12 — 12 Total Customer Revenue 230 28 258 188 20 208 Other revenue — — — 1 — 1 Total revenue $ 230 $ 28 $ 258 $ 189 $ 20 $ 209 Six-Month Periods Ended June 30, 2022 2021 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 162 $ 51 $ 213 $ 138 $ 38 $ 176 Commercial 151 21 172 117 15 132 Industrial 102 7 109 81 5 86 Other 3 — 3 3 — 3 Total fully bundled 418 79 497 339 58 397 Distribution only service 3 — 3 2 — 2 Total retail 421 79 500 341 58 399 Wholesale, transmission and other 35 — 35 28 — 28 Total Customer Revenue 456 79 535 369 58 427 Other revenue 1 1 2 1 1 2 Total revenue $ 457 $ 80 $ 537 $ 370 $ 59 $ 429 |
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, 2022 2021 2022 2021 Customer Revenue: Regulated: Gas transportation and storage $ 286 $ 246 $ 571 $ 525 Wholesale — — — 17 Total regulated 286 246 571 542 Nonregulated 216 190 419 380 Total Customer Revenue 502 436 990 922 Other revenue (1) 2 1 (4) 1 Total operating revenue $ 504 $ 437 $ 986 $ 923 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" and includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts. Remaining Performance Obligations The following table summarizes 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, 2022 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 2,228 $ 16,609 $ 18,837 |
BHE Shareholders' Equity
BHE Shareholders' Equity | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
BHE Shareholders' Equity | BHE Shareholders' Equity In May 2022, BHE redeemed at par 800,006 shares of its 4.00% Perpetual Preferred Stock from certain subsidiaries of Berkshire Hathaway Inc. for $800 million, plus an additional amount equal to the accrued dividends on the pro rata shares redeemed. In June 2022, BHE purchased 740,961 shares of its common stock held by Mr. Gregory E. Abel, BHE's Chair, for $870 million. The purchase was pursuant to the terms of BHE's Shareholders Agreement. |
Components of Accumulated Other
Components of Accumulated Other Comprehensive Loss, Net | 6 Months Ended |
Jun. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Components of Accumulated Other Comprehensive Loss, Net | Components of Accumulated Other Comprehensive Loss, Net The following table shows the change in accumulated other comprehensive loss by each component of other comprehensive income (loss), net of applicable income tax (in millions): Unrecognized Foreign Unrealized AOCI Amounts on Currency (Losses) Gains Attributable Retirement Translation on Cash Noncontrolling To BHE Benefits Adjustment Flow Hedges Interests Shareholders, Net Balance, December 31, 2020 $ (492) $ (1,062) $ (8) $ 10 $ (1,552) Other comprehensive income (loss) 22 159 15 (4) 192 Balance, June 30, 2021 $ (470) $ (903) $ 7 $ 6 $ (1,360) Balance, December 31, 2021 $ (318) $ (1,086) $ 59 $ 5 $ (1,340) Other comprehensive income (loss) 40 (591) 103 — (448) Balance, June 30, 2022 $ (278) $ (1,677) $ 162 $ 5 $ (1,788) |
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, 2020 $ (12) $ (51) $ 10 $ (53) Other comprehensive income (loss) 4 13 (4) 13 Balance, June 30, 2021 $ (8) $ (38) $ 6 $ (40) Balance, December 31, 2021 $ (6) $ (42) $ 5 $ (43) Other comprehensive income 1 3 — 4 Balance, June 30, 2022 $ (5) $ (39) $ 5 $ (39) |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2022 | |
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, 2022 2021 2022 2021 Operating revenue: PacifiCorp $ 1,314 $ 1,298 $ 2,611 $ 2,540 MidAmerican Funding 897 693 1,902 1,760 NV Energy 899 767 1,592 1,358 Northern Powergrid 345 280 660 580 BHE Pipeline Group 856 706 1,891 1,799 BHE Transmission 183 182 366 362 BHE Renewables 294 267 461 457 HomeServices 1,672 1,763 2,879 2,995 BHE and Other (1) 152 108 280 294 Total operating revenue $ 6,612 $ 6,064 $ 12,642 $ 12,145 Depreciation and amortization: PacifiCorp $ 279 $ 275 $ 559 $ 539 MidAmerican Funding 277 209 527 416 NV Energy 139 137 279 273 Northern Powergrid 100 73 180 144 BHE Pipeline Group 125 121 256 239 BHE Transmission 60 60 118 118 BHE Renewables 66 61 131 121 HomeServices 14 12 29 23 BHE and Other (1) (1) (1) 2 1 Total depreciation and amortization $ 1,059 $ 947 $ 2,081 $ 1,874 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Operating income: PacifiCorp $ 158 $ 283 $ 374 $ 517 MidAmerican Funding 90 103 190 151 NV Energy 140 145 202 215 Northern Powergrid 110 126 269 277 BHE Pipeline Group 352 245 890 863 BHE Transmission 84 85 167 166 BHE Renewables 134 97 132 130 HomeServices 117 179 145 291 BHE and Other (1) 22 (55) 74 (69) Total operating income 1,207 1,208 2,443 2,541 Interest expense (550) (532) (1,082) (1,062) Capitalized interest 18 14 35 28 Allowance for equity funds 42 30 80 56 Interest and dividend income 30 26 53 47 Gains on marketable securities, net 2,528 1,966 1,271 848 Other, net (26) 48 (21) 56 Total income before income tax expense (benefit) and equity loss $ 3,249 $ 2,760 $ 2,779 $ 2,514 Interest expense: PacifiCorp $ 107 $ 105 $ 213 $ 212 MidAmerican Funding 83 78 165 156 NV Energy 52 51 103 103 Northern Powergrid 34 32 66 65 BHE Pipeline Group 36 40 73 78 BHE Transmission 38 40 76 78 BHE Renewables 45 40 86 80 HomeServices 2 1 3 2 BHE and Other (1) 153 145 297 288 Total interest expense $ 550 $ 532 $ 1,082 $ 1,062 Earnings on common shares: PacifiCorp $ 83 $ 226 $ 213 $ 395 MidAmerican Funding 204 211 445 355 NV Energy 93 100 122 134 Northern Powergrid 71 (25) 182 79 BHE Pipeline Group 199 100 521 483 BHE Transmission 62 60 124 119 BHE Renewables 249 181 353 197 HomeServices 84 135 105 219 BHE and Other (1) 1,839 1,256 674 229 Total earnings on common shares $ 2,884 $ 2,244 $ 2,739 $ 2,210 As of June 30, December 31, 2022 2021 Assets: PacifiCorp $ 28,596 $ 27,615 MidAmerican Funding 25,733 25,352 NV Energy 15,905 15,239 Northern Powergrid 9,343 9,326 BHE Pipeline Group 20,691 20,434 BHE Transmission 9,441 9,476 BHE Renewables 11,853 11,829 HomeServices 4,115 4,574 BHE and Other (1) 9,618 8,220 Total assets $ 135,295 $ 132,065 (1) The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate principally to other entities, including MidAmerican Energy Services, LLC, corporate functions and intersegment eliminations. Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Operating revenue by country: U.S. $ 6,087 $ 5,604 $ 11,621 $ 11,201 United Kingdom 345 280 660 580 Canada 180 180 361 357 Other — — — 7 Total operating revenue by country $ 6,612 $ 6,064 $ 12,642 $ 12,145 Income before income tax expense (benefit) and equity loss by country: U.S. $ 3,117 $ 2,611 $ 2,463 $ 2,188 United Kingdom 87 104 226 236 Canada 46 46 92 85 Other (1) (1) (2) 5 Total income before income tax expense (benefit) and equity loss by country $ 3,249 $ 2,760 $ 2,779 $ 2,514 The following table shows the change in the carrying amount of goodwill by reportable segment for the six-month period ended June 30, 2022 (in millions): BHE Pipeline Group PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Transmission BHE Renewables HomeServices Total December 31, 2021 $ 1,129 $ 2,102 $ 2,369 $ 992 $ 1,814 $ 1,563 $ 95 $ 1,586 $ 11,650 Acquisitions — — — — — — — 8 8 Foreign currency translation — — — (70) — (29) — — (99) June 30, 2022 $ 1,129 $ 2,102 $ 2,369 $ 922 $ 1,814 $ 1,534 $ 95 $ 1,594 $ 11,559 |
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 regulated natural gas sales are established separately by regulatory agencies; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and in 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, 2022 2021 2022 2021 Operating revenue: Regulated electric $ 725 $ 586 $ 1,333 $ 1,131 Regulated natural gas 171 106 567 618 Other 1 1 2 11 Total operating revenue $ 897 $ 693 $ 1,902 $ 1,760 Operating income: Regulated electric $ 87 $ 103 $ 138 $ 112 Regulated natural gas 3 — 52 39 Total operating income 90 103 190 151 Interest expense (78) (74) (156) (148) Allowance for borrowed funds 5 2 9 4 Allowance for equity funds 14 8 29 14 Other, net (12) 15 (15) 26 Income before income tax benefit $ 19 $ 54 $ 57 $ 47 As of June 30, December 31, Assets: Regulated electric $ 21,967 $ 21,385 Regulated natural gas 1,667 1,871 Other 1 1 Total assets $ 23,635 $ 23,257 |
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 regulated natural gas sales are established separately by regulatory agencies; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and in 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, 2022 2021 2022 2021 Operating revenue: Regulated electric $ 725 $ 586 $ 1,333 $ 1,131 Regulated natural gas 171 106 567 618 Other 1 1 2 11 Total operating revenue $ 897 $ 693 $ 1,902 $ 1,760 Operating income: Regulated electric $ 87 $ 103 $ 138 $ 112 Regulated natural gas 3 — 52 39 Total operating income 90 103 190 151 Interest expense (83) (78) (165) (156) Allowance for borrowed funds 5 2 9 4 Allowance for equity funds 14 8 29 14 Other, net (10) 16 (14) 26 Income before income tax benefit $ 16 $ 51 $ 49 $ 39 As of June 30, December 31, Assets (1) : Regulated electric $ 23,158 $ 22,576 Regulated natural gas 1,746 1,950 Other 7 5 Total assets $ 24,911 $ 24,531 (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, 2022 2021 2022 2021 Operating revenue: Regulated electric $ 230 $ 189 $ 457 $ 370 Regulated natural gas 28 20 80 59 Total operating revenue $ 258 $ 209 $ 537 $ 429 Operating income: Regulated electric $ 19 $ 21 $ 49 $ 52 Regulated natural gas 4 4 12 12 Total operating income 23 25 61 64 Interest expense (14) (13) (27) (27) Allowance for borrowed funds — 1 1 1 Allowance for equity funds 2 2 4 3 Interest and dividend income 4 1 7 3 Other, net — 2 2 6 Income before income tax expense $ 15 $ 18 $ 48 $ 50 As of June 30, December 31, 2022 2021 Assets: Regulated electric $ 3,995 $ 3,829 Regulated natural gas 385 365 Other (1) 35 29 Total assets $ 4,415 $ 4,223 (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, 2022 | |
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, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
PAC | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of June 30, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. The Consolidated Statements of Comprehensive Income have been omitted as net income materially equals comprehensive income for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 and 2021 are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
MEC | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Financial Statements as of June 30, 2022, and for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022, are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Financial Statements. |
Cash and Cash Equivalents | Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist substantially of funds restricted for wildlife preservation. |
MidAmerican Funding, LLC | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Basis of Accounting | The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of June 30, 2022, and for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022, 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, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. 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, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 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. |
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, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. 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, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 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. |
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, 2022 and for the three- and six-month periods ended June 30, 2022 and 2021. The results of operations for the three- and six-month periods ended June 30, 2022 are not necessarily indicative of the results to be expected for the full year. |
Use of Estimates | The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. |
Cash and Cash Equivalents and_2
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 in 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, 2022 2021 Cash and cash equivalents $ 2,081 $ 1,096 Restricted cash and cash equivalents 201 127 Investments and restricted cash, cash equivalents and investments 19 21 Total cash and cash equivalents and restricted cash and cash equivalents $ 2,301 $ 1,244 |
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 in 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, 2022 2021 Cash and cash equivalents $ 390 $ 179 Restricted cash and cash equivalents included in other current assets 7 4 Restricted cash included in other assets 3 3 Total cash and cash equivalents and restricted cash and cash equivalents $ 400 $ 186 |
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 in 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, 2022 2021 Cash and cash equivalents $ 495 $ 232 Restricted cash and cash equivalents in other current assets 8 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 503 $ 239 |
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 in 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, 2022 2021 Cash and cash equivalents $ 497 $ 233 Restricted cash and cash equivalents in other current assets 8 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 505 $ 240 |
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 in 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, 2022 2021 Cash and cash equivalents $ 42 $ 33 Restricted cash and cash equivalents included in other current assets 13 12 Total cash and cash equivalents and restricted cash and cash equivalents $ 55 $ 45 |
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 in 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, 2022 2021 Cash and cash equivalents $ 17 $ 10 Restricted cash and cash equivalents included in other current assets 7 6 Total cash and cash equivalents and restricted cash and cash equivalents $ 24 $ 16 |
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 in 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, 2022 2021 Cash and cash equivalents $ 106 $ 22 Restricted cash and cash equivalents included in other current assets 25 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 131 $ 39 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 2022 2021 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 90,810 $ 90,223 Interstate natural gas pipeline assets 3-80 years 17,547 17,423 108,357 107,646 Accumulated depreciation and amortization (33,618) (32,680) Regulated assets, net 74,739 74,966 Nonregulated assets: Independent power plants 2-50 years 8,073 7,665 Cove Point LNG facility 40 years 3,373 3,364 Other assets 2-30 years 3,042 2,666 14,488 13,695 Accumulated depreciation and amortization (3,206) (3,041) Nonregulated assets, net 11,282 10,654 Net operating assets 86,021 85,620 Construction work-in-progress 4,774 4,196 Property, plant and equipment, net $ 90,795 $ 89,816 |
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 2022 2021 Utility Plant: Generation 15 - 59 years $ 13,770 $ 13,679 Transmission 60 - 90 years 7,952 7,894 Distribution 20 - 75 years 8,211 8,044 Intangible plant (1) 5 - 75 years 1,114 1,106 Other 5 - 60 years 1,584 1,539 Utility plant in-service 32,631 32,262 Accumulated depreciation and amortization (10,874) (10,507) Utility plant in-service, net 21,757 21,755 Other non-regulated, net of accumulated depreciation and amortization 14 - 95 years 18 18 Plant, net 21,775 21,773 Construction work-in-progress 1,639 1,141 Property, plant and equipment, net $ 23,414 $ 22,914 (1) Computer software costs included in intangible plant are initially assigned a depreciable life of 5 to 10 years. |
MEC | |
Property, Plant and Equipment [Line Items] | |
Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following (in millions): As of June 30, December 31, Depreciable Life 2022 2021 Utility plant in-service, net: Generation 20-70 years $ 17,737 $ 17,397 Transmission 52-75 years 2,583 2,474 Electric distribution 20-75 years 4,725 4,661 Natural gas distribution 29-75 years 2,049 2,039 Utility plant in-service 27,094 26,571 Accumulated depreciation and amortization (7,658) (7,376) Utility plant in-service, net 19,436 19,195 Nonregulated property, net: Nonregulated property, gross 20-50 years 7 7 Accumulated depreciation and amortization (1) (1) Nonregulated property, net 6 6 19,442 19,201 Construction work-in-progress 1,062 1,100 Property, plant and equipment, net $ 20,504 $ 20,301 |
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, 2022 2021 Utility plant: Generation 30 - 55 years $ 3,879 $ 3,793 Transmission 45 - 70 years 1,527 1,503 Distribution 20 - 65 years 4,021 3,920 General and intangible plant 5 - 65 years 834 836 Utility plant 10,261 10,052 Accumulated depreciation and amortization (3,517) (3,406) Utility plant, net 6,744 6,646 Other non-regulated, net of accumulated depreciation and amortization 45 years 1 1 Plant, net 6,745 6,647 Construction work-in-progress 370 244 Property, plant and equipment, net $ 7,115 $ 6,891 |
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, 2022 2021 Utility plant: Electric generation 25 - 60 years $ 1,297 $ 1,163 Electric transmission 50 - 100 years 976 940 Electric distribution 20 - 100 years 1,905 1,846 Electric general and intangible plant 5 - 70 years 213 204 Natural gas distribution 35 - 70 years 447 438 Natural gas general and intangible plant 5 - 70 years 15 14 Common general 5 - 70 years 376 370 Utility plant 5,229 4,975 Accumulated depreciation and amortization (1,936) (1,854) Utility plant, net 3,293 3,121 Construction work-in-progress 183 219 Property, plant and equipment, net $ 3,476 $ 3,340 |
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 2022 2021 Utility Plant: Interstate natural gas pipeline assets 21 - 44 years $ 8,728 $ 8,675 Intangible plant 5 - 10 years 106 110 Utility plant in-service 8,834 8,785 Accumulated depreciation and amortization (2,962) (2,901) Utility plant in-service, net 5,872 5,884 Nonutility Plant: LNG facility 40 years 4,484 4,475 Intangible plant 14 years 25 25 Nonutility plant in-service 4,509 4,500 Accumulated depreciation and amortization (484) (423) Nonutility plant in-service, net 4,025 4,077 Plant, net 9,897 9,961 Construction work-in-progress 234 239 Property, plant and equipment, net $ 10,131 $ 10,200 |
Investments and Restricted Ca_2
Investments and Restricted Cash, Cash Equivalents and Investments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Investments and Restricted Cash | Investments and restricted cash, cash equivalents and investments consists of the following (in millions): As of June 30, December 31, 2022 2021 Investments: BYD Company Limited common stock $ 9,003 $ 7,693 Rabbi trusts 429 492 Other 328 305 Total investments 9,760 8,490 Equity method investments: BHE Renewables tax equity investments 4,680 4,931 Iroquois Gas Transmission System, L.P. 742 735 Electric Transmission Texas, LLC 606 595 Other 302 293 Total equity method investments 6,330 6,554 Restricted cash, cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 658 768 Other restricted cash and cash equivalents 220 148 Total restricted cash, cash equivalents and investments 878 916 Total investments and restricted cash, cash equivalents and investments $ 16,968 $ 15,960 Reflected as: Current assets $ 240 $ 172 Noncurrent assets 16,728 15,788 Total investments and restricted cash, cash equivalents and investments $ 16,968 $ 15,960 |
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, 2022 2021 2022 2021 Unrealized gains recognized on marketable securities still held at the reporting date $ 2,527 $ 1,966 $ 1,270 $ 847 Net gains recognized on marketable securities sold during the period 1 — 1 1 Gains on marketable securities, net $ 2,528 $ 1,966 $ 1,271 $ 848 |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented in 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, 2022 2021 Cash and cash equivalents $ 2,081 $ 1,096 Restricted cash and cash equivalents 201 127 Investments and restricted cash, cash equivalents and investments 19 21 Total cash and cash equivalents and restricted cash and cash equivalents $ 2,301 $ 1,244 |
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, 2022 2021 Investments: Investment funds $ 13 $ 13 Equity method investments: Iroquois 406 399 Total investments 419 412 Restricted cash and cash equivalents: Customer deposits 25 17 Total restricted cash and cash equivalents 25 17 Total investments and restricted cash and cash equivalents $ 444 $ 429 Reflected as: Current assets $ 25 $ 17 Noncurrent assets 419 412 Total investments and restricted cash and cash equivalents $ 444 $ 429 |
Schedule of Cash and Cash Equivalents | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented in 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, 2022 2021 Cash and cash equivalents $ 106 $ 22 Restricted cash and cash equivalents included in other current assets 25 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 131 $ 39 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (13) (13) (28) (27) State income tax, net of federal income tax impacts (1) 4 — 2 Income tax effect of foreign income — 3 (1) 3 Effects of ratemaking (1) (2) (2) (4) Equity income (1) — (1) (2) Noncontrolling interest (1) (1) (2) (2) Other, net 1 — — 1 Effective income tax rate 5 % 12 % (13) % (8) % |
PAC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit 4 4 3 4 Federal income tax credits (25) (19) (21) (19) Effects of ratemaking (1) (13) (15) (11) (14) Valuation allowance — — 4 — Other 2 — 1 — Effective income tax rate (11) % (9) % (3) % (8) % (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 benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (973) (271) (682) (634) State income tax, net of federal income tax impacts (26) (31) (23) (32) Effects of ratemaking (11) (15) (9) (21) Other, net — 2 2 — Effective income tax rate (989) % (294) % (691) % (666) % |
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 benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Income tax credits (1,150) (286) (793) (764) State income tax, net of federal income tax impacts (38) (33) (29) (41) Effects of ratemaking (12) (16) (10) (26) Other, net 4 — 3 — Effective income tax rate (1,175) % (314) % (808) % (810) % |
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 benefit is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (10) (11) (10) (11) Other 1 — 1 — Effective income tax rate 12 % 10 % 12 % 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 is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % Effects of ratemaking (8) (11) (7) (9) Income tax credits — (1) — — Other — (3) 1 (2) Effective income tax rate 13 % 6 % 15 % 10 % |
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 is as follows: Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Federal statutory income tax rate 21 % 21 % 21 % 21 % State income tax, net of federal income tax benefit 3 2 4 3 Equity interest 1 1 1 1 Effects of ratemaking — (1) (2) (1) Noncontrolling interest (10) (12) (10) (11) Other, net — 2 — — Effective income tax rate 15 % 13 % 14 % 13 % |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Defined Benefit Plans Disclosures | 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, 2022 2021 2022 2021 Pension: Service cost $ 6 $ 8 $ 13 $ 15 Interest cost 19 18 38 38 Expected return on plan assets (27) (36) (54) (69) Settlement — — 2 — Net amortization 5 7 9 13 Net periodic benefit cost (credit) $ 3 $ (3) $ 8 $ (3) Other postretirement: Service cost $ 4 $ 4 $ 6 $ 6 Interest cost 5 5 10 10 Expected return on plan assets (7) (6) (14) (11) Net amortization (1) (1) (1) (2) Net periodic benefit cost $ 1 $ 2 $ 1 $ 3 Net periodic benefit credit for the United Kingdom pension plan included the following components (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Service cost $ 3 $ 4 $ 7 $ 8 Interest cost 9 7 19 15 Expected return on plan assets (23) (28) (48) (56) Net amortization 6 14 12 28 Net periodic benefit credit $ (5) $ (3) $ (10) $ (5) |
PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Defined Benefit Plans Disclosures | 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, 2022 2021 2022 2021 Pension: Service cost $ — $ — $ — $ — Interest cost 7 7 14 14 Expected return on plan assets (11) (14) (21) (27) Net amortization 4 5 8 10 Net periodic benefit cost (credit) $ — $ (2) $ 1 $ (3) Other postretirement: Service cost $ 1 $ 1 $ 1 $ 1 Interest cost 2 2 4 4 Expected return on plan assets (3) (2) (5) (4) Net amortization — — — — Net periodic benefit cost (credit) $ — $ 1 $ — $ 1 |
MEC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Defined Benefit Plans Disclosures | Net periodic benefit cost 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, 2022 2021 2022 2021 Pension: Service cost $ 4 $ 5 $ 9 $ 10 Interest cost 5 5 10 11 Expected return on plan assets (7) (10) (14) (19) Settlement — — 2 — Net amortization 1 1 1 1 Net periodic benefit cost $ 3 $ 1 $ 8 $ 3 Other postretirement: Service cost $ 2 $ 2 $ 4 $ 4 Interest cost 2 2 4 4 Expected return on plan assets (3) (3) (7) (5) Net amortization (1) (1) (1) (2) Net periodic benefit cost $ — $ — $ — $ 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, 2022 2021 Qualified Pension Plan: Other non-current assets $ 42 $ 42 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (8) (8) Other Postretirement Plans: Other non-current assets 8 8 |
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, 2022 2021 Qualified Pension Plan: Other non-current assets $ 64 $ 62 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (7) (7) Other Postretirement Plans: Other long-term liabilities (8) (10) |
Risk Management and Hedging A_2
Risk Management and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 2022 2021 Electricity purchases Megawatt hours 1 1 Natural gas purchases Decatherms 50 53 |
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, 2022 Not designated as hedging contracts (1) : Commodity assets $ 183 $ 80 $ 9 $ — $ 272 Commodity liabilities (1) — (44) (4) (49) Total 182 80 (35) (4) 223 Total derivatives 182 80 (35) (4) 223 Cash collateral payable (55) (9) — — (64) Total derivatives - net basis $ 127 $ 71 $ (35) $ (4) $ 159 As of December 31, 2021 Not designated as hedging contracts (1) : Commodity assets $ 81 $ 21 $ 2 $ — $ 104 Commodity liabilities (5) (1) (38) (7) (51) Total 76 20 (36) (7) 53 Total derivatives 76 20 (36) (7) 53 Cash collateral receivable — — 5 — 5 Total derivatives - net basis $ 76 $ 20 $ (31) $ (7) $ 58 (1) PacifiCorp's commodity derivatives are generally included in rates. As of June 30, 2022 a regulatory liability of $223 million was recorded related to the net derivative asset of $223 million. As of December 31, 2021 a regulatory liability of $53 million was recorded related to the net derivative asset of $53 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 and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets, as well as amounts reclassified to earnings (in millions): Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Beginning balance $ (195) $ — $ (53) $ 17 Changes in fair value recognized in regulatory assets (49) (102) (217) (119) Net losses reclassified to operating revenue (8) (5) (11) (5) Net gains reclassified to energy costs 29 5 58 5 Ending balance $ (223) $ (102) $ (223) $ (102) |
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 2022 2021 Electricity purchases, net Megawatt hours 2 2 Natural gas purchases Decatherms 105 106 |
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 Other Current Long-term Assets Assets Liabilities Liabilities Total As of June 30, 2022 Not designated as hedging contracts (1) : Commodity assets $ — $ 1 $ — $ — $ 1 Commodity liabilities — — (122) (54) (176) Total derivative - net basis $ — $ 1 $ (122) $ (54) $ (175) As of December 31, 2021 Not designated as hedging contracts (1) : Commodity assets $ 4 $ — $ — $ — $ 4 Commodity liabilities — — (55) (62) (117) Total derivative - net basis $ 4 $ — $ (55) $ (62) $ (113) (1) Nevada Power's commodity derivatives not designated as hedging contracts are included in regulated rates. As of June 30, 2022 a regulatory asset of $175 million was recorded related to the net derivative liability of $175 million. As of December 31, 2021 a regulatory asset of $113 million was recorded related to the net derivative liability of $113 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 2022 2021 Electricity purchases Megawatt hours 3 1 Natural gas purchases Decatherms 113 119 |
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): Derivative Other Contracts - Other Current Other Current Long-term Assets Assets Liabilities Liabilities Total As of June 30, 2022 Not designated as hedging contracts (1) : Commodity assets $ — $ 1 $ — $ — $ 1 Commodity liabilities — — (38) (17) (55) Total derivative - net basis $ — $ 1 $ (38) $ (17) $ (54) As of December 31, 2021 Not designated as hedging contracts (1) : Commodity assets $ 2 $ — $ — $ — $ 2 Commodity liabilities — — (16) (19) (35) Total derivative - net basis $ 2 $ — $ (16) $ (19) $ (33) (1) Sierra Pacific's commodity derivatives not designated as hedging contracts are included in regulated rates. As of June 30, 2022 a net regulatory asset of $54 million was recorded related to the net derivative liability of $54 million. As of December 31, 2021 a net regulatory asset of $33 million was recorded related to the net derivative liability of $33 million. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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, 2022: Assets: Commodity derivatives $ 11 $ 660 $ 77 $ (164) $ 584 Interest rate derivatives 16 45 24 — 85 Mortgage loans held for sale — 1,084 — — 1,084 Money market mutual funds 1,492 — — — 1,492 Debt securities: U.S. government obligations 220 — — — 220 International government obligations — 1 — — 1 Corporate obligations — 75 — — 75 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 348 — — — 348 International companies 9,011 — — — 9,011 Investment funds 258 — — — 258 $ 11,356 $ 1,869 $ 101 $ (164) $ 13,162 Liabilities: Commodity derivatives $ (14) $ (211) $ (255) $ 77 $ (403) Foreign currency exchange rate derivatives — (19) — — (19) Interest rate derivatives — (6) (3) — (9) $ (14) $ (236) $ (258) $ 77 $ (431) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2021: Assets: Commodity derivatives $ 5 $ 271 $ 73 $ (47) $ 302 Foreign currency exchange rate derivatives — 3 — — 3 Interest rate derivatives 1 3 20 — 24 Mortgage loans held for sale — 1,263 — — 1,263 Money market mutual funds 554 — — — 554 Debt securities: U.S. government obligations 232 — — — 232 International government obligations — 2 — — 2 Corporate obligations — 90 — — 90 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 2 — — 2 Equity securities: U.S. companies 428 — — — 428 International companies 7,703 — — — 7,703 Investment funds 237 — — — 237 $ 9,160 $ 1,637 $ 93 $ (47) $ 10,843 Liabilities: Commodity derivatives $ (2) $ (113) $ (224) $ 73 $ (266) Foreign currency exchange rate derivatives — (3) — — (3) Interest rate derivatives — (7) (1) — (8) $ (2) $ (123) $ (225) $ 73 $ (277) (1) Represents netting under master netting arrangements and a net cash collateral payable of $87 million and receivable of $26 million as of June 30, 2022 and December 31, 2021, 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 2022: Beginning balance $ (239) $ 13 $ (151) $ 19 Changes included in earnings (1) (26) 8 (82) 2 Changes in fair value recognized in OCI 5 — 10 — Changes in fair value recognized in net regulatory assets 1 — (59) — Purchases 1 — 1 — Settlements 11 — 34 — Transfers out of Level 3 into Level 2 69 — 69 — Ending balance $ (178) $ 21 $ (178) $ 21 2021: Beginning balance $ 124 $ 41 $ 116 $ 62 Changes included in earnings (1) (10) — (16) (21) Changes in fair value recognized in OCI (6) — (7) — Changes in fair value recognized in net regulatory assets (7) — 9 — Purchases 1 — 1 — Settlements 3 — 2 — Ending balance $ 105 $ 41 $ 105 $ 41 (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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 51,117 $ 48,636 $ 49,762 $ 57,189 |
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, 2022: Assets: Commodity derivatives $ — $ 272 $ — $ (74) $ 198 Money market mutual funds 374 — — — 374 Investment funds 26 — — — 26 $ 400 $ 272 $ — $ (74) $ 598 Liabilities - Commodity derivatives $ — $ (49) $ — $ 10 $ (39) As of December 31, 2021: Assets: Commodity derivatives $ — $ 104 $ — $ (8) $ 96 Money market mutual funds 181 — — — 181 Investment funds 27 — — — 27 $ 208 $ 104 $ — $ (8) $ 304 Liabilities - Commodity derivatives $ — $ (51) $ — $ 13 $ (38) (1) Represents netting under master netting arrangements and a net cash collateral payable of $64 million and a net cash collateral receivable of $5 million as of June 30, 2022 and December 31, 2021, 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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 8,723 $ 8,555 $ 8,730 $ 10,374 |
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, 2022: Assets: Commodity derivatives $ 1 $ 66 $ 28 $ (22) $ 73 Money market mutual funds 498 — — — 498 Debt securities: U.S. government obligations 220 — — — 220 International government obligations — 1 — — 1 Corporate obligations — 75 — — 75 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 348 — — — 348 International companies 8 — — — 8 Investment funds 21 — — — 21 $ 1,096 $ 146 $ 28 $ (22) $ 1,248 Liabilities - commodity derivatives $ (1) $ (10) $ (2) $ 7 $ (6) Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Other (1) Total As of December 31, 2021: Assets: Commodity derivatives $ — $ 32 $ 3 $ (7) $ 28 Money market mutual funds 228 — — — 228 Debt securities: U.S. government obligations 232 — — — 232 International government obligations — 2 — — 2 Corporate obligations — 90 — — 90 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 2 — — 2 Equity securities: U.S. companies 428 — — — 428 International companies 10 — — — 10 Investment funds 18 — — — 18 $ 916 $ 129 $ 3 $ (7) $ 1,041 Liabilities - commodity derivatives $ — $ (6) $ (8) $ 12 $ (2) (1) Represents netting under master netting arrangements and a net cash collateral payable of $15 million as of June 30, 2022 and a net cash collateral receivable of $5 million as of December 31, 2021. |
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, 2022 2021 2022 2021 Beginning balance $ 4 $ 1 $ (5) $ 2 Changes in fair value recognized in regulatory assets 31 — 44 — Settlements (9) (2) (13) (3) Ending balance $ 26 $ (1) $ 26 $ (1) |
Fair Value, by Balance Sheet Grouping | 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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Long-term debt $ 7,725 $ 7,376 $ 7,721 $ 9,037 |
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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Long-term debt $ 7,965 $ 7,646 $ 7,961 $ 9,350 |
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 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, 2022: Assets: Commodity derivatives $ — $ — $ 1 $ 1 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 1 $ 38 Liabilities - commodity derivatives $ — $ — $ (176) $ (176) As of December 31, 2021: Assets: Commodity derivatives $ — $ — $ 4 $ 4 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 4 $ 41 Liabilities - commodity derivatives $ — $ — $ (117) $ (117) |
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, 2022 2021 2022 2021 Beginning balance $ (168) $ 27 $ (113) $ 15 Changes in fair value recognized in regulatory assets (21) (6) (77) 5 Settlements 14 4 15 5 Ending balance $ (175) $ 25 $ (175) $ 25 |
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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 2,800 $ 2,807 $ 2,499 $ 3,067 |
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 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, 2022: Assets: Commodity derivatives $ — $ — $ 1 $ 1 Money market mutual funds 14 — — 14 Investment funds 1 — — 1 $ 15 $ — $ 1 $ 16 Liabilities - commodity derivatives $ — $ — $ (55) $ (55) As of December 31, 2021: Assets: Commodity derivatives $ — $ — $ 2 $ 2 Money market mutual funds 10 — — 10 Investment funds 1 — — 1 $ 11 $ — $ 2 $ 13 Liabilities - commodity derivatives $ — $ — $ (35) $ (35) |
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, 2022 2021 2022 2021 Beginning balance $ (52) $ 12 $ (33) $ 7 Changes in fair value recognized in regulatory assets (7) (1) (26) 4 Settlements 5 1 5 1 Ending balance $ (54) $ 12 $ (54) $ 12 |
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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,148 $ 1,164 $ 1,164 $ 1,316 |
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, 2022: Assets: Money market mutual funds $ 66 $ — $ — $ 66 Equity securities: Investment funds 13 — — 13 $ 79 $ — $ — $ 79 Liabilities: Commodity derivatives $ — $ (1) $ — $ (1) Foreign currency exchange rate derivatives — (19) — (19) $ — $ (20) $ — $ (20) As of December 31, 2021: Assets: Foreign currency exchange rate derivatives $ — $ 3 $ — $ 3 Equity securities: Investment funds 13 — — 13 $ 13 $ 3 $ — $ 16 Liabilities: Foreign currency exchange rate derivatives $ — $ (3) $ — $ (3) $ — $ (3) $ — $ (3) |
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, 2022 As of December 31, 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,886 $ 3,656 $ 3,906 $ 4,266 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes the Company's energy products and services revenue from contracts with customers ("Customer Revenue") by regulated and nonregulated, with further disaggregation of regulated by line of business, including a reconciliation to the Company's reportable segment information included in Note 12 (in millions): For the Three-Month Period Ended June 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,167 $ 594 $ 831 $ — $ — $ — $ — $ (1) $ 2,591 Retail gas — 136 28 — — — — — 164 Wholesale 55 119 15 — — — — (2) 187 Transmission and 45 13 18 274 — 172 — — 522 Interstate pipeline — — — — 524 — — (27) 497 Other 28 — — — — — — — 28 Total Regulated 1,295 862 892 274 524 172 — (30) 3,989 Nonregulated — — 1 42 285 15 262 151 756 Total Customer Revenue 1,295 862 893 316 809 187 262 121 4,745 Other revenue 19 35 6 29 47 (4) 32 31 195 Total $ 1,314 $ 897 $ 899 $ 345 $ 856 $ 183 $ 294 $ 152 $ 4,940 For the Six-Month Period Ended June 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,352 $ 1,066 $ 1,430 $ — $ — $ — $ — $ (1) $ 4,847 Retail gas — 473 79 — — — — — 552 Wholesale 110 280 35 — — — — (2) 423 Transmission and 77 28 35 543 — 348 — — 1,031 Interstate pipeline — — — — 1,269 — — (68) 1,201 Other 48 — 1 — 1 — — — 50 Total Regulated 2,587 1,847 1,580 543 1,270 348 — (71) 8,104 Nonregulated — 2 1 57 563 22 431 284 1,360 Total Customer Revenue 2,587 1,849 1,581 600 1,833 370 431 213 9,464 Other revenue 24 53 11 60 58 (4) 30 67 299 Total $ 2,611 $ 1,902 $ 1,592 $ 660 $ 1,891 $ 366 $ 461 $ 280 $ 9,763 For the Three-Month Period Ended June 30, 2021 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,188 $ 516 $ 708 $ — $ — $ — $ — $ (1) $ 2,411 Retail gas — 89 20 — — — — — 109 Wholesale 30 69 10 — — — — (1) 108 Transmission and 37 15 22 243 — 178 — — 495 Interstate pipeline — — — — 458 — — (25) 433 Other 31 — 1 — (1) — — — 31 Total Regulated 1,286 689 761 243 457 178 — (27) 3,587 Nonregulated — 1 1 8 232 7 239 124 612 Total Customer Revenue 1,286 690 762 251 689 185 239 97 4,199 Other revenue 12 3 5 29 17 (3) 28 11 102 Total $ 1,298 $ 693 $ 767 $ 280 $ 706 $ 182 $ 267 $ 108 $ 4,301 For the Six-Month Period Ended June 30, 2021 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,333 $ 968 $ 1,219 $ — $ — $ — $ — $ (1) $ 4,519 Retail gas — 549 58 — — — — — 607 Wholesale 66 194 25 — 17 — — (1) 301 Transmission and 62 30 43 506 — 350 — — 991 Interstate pipeline — — — — 1,273 — — (66) 1,207 Other 54 — 1 — 1 — — — 56 Total Regulated 2,515 1,741 1,346 506 1,291 350 — (68) 7,681 Nonregulated — 11 1 18 469 15 405 311 1,230 Total Customer Revenue 2,515 1,752 1,347 524 1,760 365 405 243 8,911 Other revenue 25 8 11 56 39 (3) 52 51 239 Total $ 2,540 $ 1,760 $ 1,358 $ 580 $ 1,799 $ 362 $ 457 $ 294 $ 9,150 (1) The BHE and Other reportable segment represents amounts related principally to other entities, including MidAmerican Energy Services, LLC, 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, 2022 2021 2022 2021 Customer Revenue: Brokerage $ 1,544 $ 1,569 $ 2,636 $ 2,591 Franchise 17 24 37 42 Total Customer Revenue 1,561 1,593 2,673 2,633 Mortgage and other revenue 111 170 206 362 Total $ 1,672 $ 1,763 $ 2,879 $ 2,995 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Operating revenue by country: U.S. $ 6,087 $ 5,604 $ 11,621 $ 11,201 United Kingdom 345 280 660 580 Canada 180 180 361 357 Other — — — 7 Total operating revenue by country $ 6,612 $ 6,064 $ 12,642 $ 12,145 Income before income tax expense (benefit) and equity loss by country: U.S. $ 3,117 $ 2,611 $ 2,463 $ 2,188 United Kingdom 87 104 226 236 Canada 46 46 92 85 Other (1) (1) (2) 5 Total income before income tax expense (benefit) and equity loss by country $ 3,249 $ 2,760 $ 2,779 $ 2,514 |
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, 2022, by reportable segment (in millions): Performance obligations expected to be satisfied: Less than 12 months More than 12 months Total BHE Pipeline Group $ 3,324 $ 21,878 $ 25,202 BHE Transmission 695 348 1,043 Total $ 4,019 $ 22,226 $ 26,245 |
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, 2022 2021 2022 2021 Customer Revenue: Retail: Residential $ 417 $ 429 $ 922 $ 912 Commercial 393 393 763 752 Industrial 277 282 550 553 Other retail 80 84 117 116 Total retail 1,167 1,188 2,352 2,333 Wholesale 55 30 110 66 Transmission 45 37 77 62 Other Customer Revenue 28 31 48 54 Total Customer Revenue 1,295 1,286 2,587 2,515 Other revenue 19 12 24 25 Total operating revenue $ 1,314 $ 1,298 $ 2,611 $ 2,540 |
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 10 (in millions): For the Three-Month Period Ended June 30, 2022 For the Six-Month Period Ended June 30, 2022 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 185 $ 87 $ — $ 272 $ 353 $ 312 $ — $ 665 Commercial 91 31 — 122 165 119 — 284 Industrial 277 9 — 286 475 18 — 493 Natural gas transportation services — 9 — 9 — 23 — 23 Other retail (1) 41 — — 41 73 1 — 74 Total retail 594 136 — 730 1,066 473 — 1,539 Wholesale 84 34 — 118 188 92 — 280 Multi-value transmission projects 13 — — 13 28 — — 28 Other Customer Revenue — — 1 1 — — 2 2 Total Customer Revenue 691 170 1 862 1,282 565 2 1,849 Other revenue 34 1 — 35 51 2 — 53 Total operating revenue $ 725 $ 171 $ 1 $ 897 $ 1,333 $ 567 $ 2 $ 1,902 For the Three-Month Period Ended June 30, 2021 For the Six-Month Period Ended June 30, 2021 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 170 $ 59 $ — $ 229 $ 331 $ 367 $ — $ 698 Commercial 80 18 — 98 151 147 — 298 Industrial 230 3 — 233 420 15 — 435 Natural gas transportation services — 9 — 9 — 19 — 19 Other retail (1) 36 — — 36 66 1 — 67 Total retail 516 89 — 605 968 549 — 1,517 Wholesale 52 17 — 69 126 68 — 194 Multi-value transmission projects 15 — — 15 30 — — 30 Other Customer Revenue — — 1 1 — — 11 11 Total Customer Revenue 583 106 1 690 1,124 617 11 1,752 Other revenue 3 — — 3 7 1 — 8 Total operating revenue $ 586 $ 106 $ 1 $ 693 $ 1,131 $ 618 $ 11 $ 1,760 (1) Other retail includes provisions for rate refunds, for which any actual refunds will be reflected in the applicable customer classes upon resolution of the related regulatory proceeding. |
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, 2022 2021 2022 2021 Customer Revenue: Retail: Residential $ 353 $ 326 $ 566 $ 521 Commercial 131 110 226 194 Industrial 124 95 203 158 Other 3 3 4 6 Total fully bundled 611 534 999 879 Distribution only service 5 5 10 10 Total retail 616 539 1,009 889 Wholesale, transmission and other 18 15 34 29 Total Customer Revenue 634 554 1,043 918 Other revenue 5 5 11 11 Total revenue $ 639 $ 559 $ 1,054 $ 929 |
SPPC | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes Sierra Pacific's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class, including a reconciliation to Sierra Pacific's reportable segment information included in Note 11 (in millions): Three-Month Periods Ended June 30, 2022 2021 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 79 $ 19 $ 98 $ 68 $ 13 $ 81 Commercial 82 6 88 64 5 69 Industrial 53 3 56 42 2 44 Other 1 — 1 1 — 1 Total fully bundled 215 28 243 175 20 195 Distribution only service 1 — 1 1 — 1 Total retail 216 28 244 176 20 196 Wholesale, transmission and other 14 — 14 12 — 12 Total Customer Revenue 230 28 258 188 20 208 Other revenue — — — 1 — 1 Total revenue $ 230 $ 28 $ 258 $ 189 $ 20 $ 209 Six-Month Periods Ended June 30, 2022 2021 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 162 $ 51 $ 213 $ 138 $ 38 $ 176 Commercial 151 21 172 117 15 132 Industrial 102 7 109 81 5 86 Other 3 — 3 3 — 3 Total fully bundled 418 79 497 339 58 397 Distribution only service 3 — 3 2 — 2 Total retail 421 79 500 341 58 399 Wholesale, transmission and other 35 — 35 28 — 28 Total Customer Revenue 456 79 535 369 58 427 Other revenue 1 1 2 1 1 2 Total revenue $ 457 $ 80 $ 537 $ 370 $ 59 $ 429 |
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, 2022 2021 2022 2021 Customer Revenue: Regulated: Gas transportation and storage $ 286 $ 246 $ 571 $ 525 Wholesale — — — 17 Total regulated 286 246 571 542 Nonregulated 216 190 419 380 Total Customer Revenue 502 436 990 922 Other revenue (1) 2 1 (4) 1 Total operating revenue $ 504 $ 437 $ 986 $ 923 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" and includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts. |
Summary of Remaining Performance Obligations | The following table summarizes Eastern Energy Gas' revenue it expects to recognize in future periods related to significant unsatisfied remaining performance obligations for fixed contracts with expected durations in excess of one year as of June 30, 2022 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 2,228 $ 16,609 $ 18,837 |
Components of Accumulated Oth_2
Components of Accumulated Other Comprehensive Loss, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Schedule of Other Comprehensive Income (Loss), Net | The following table shows the change in accumulated other comprehensive loss by each component of other comprehensive income (loss), net of applicable income tax (in millions): Unrecognized Foreign Unrealized AOCI Amounts on Currency (Losses) Gains Attributable Retirement Translation on Cash Noncontrolling To BHE Benefits Adjustment Flow Hedges Interests Shareholders, Net Balance, December 31, 2020 $ (492) $ (1,062) $ (8) $ 10 $ (1,552) Other comprehensive income (loss) 22 159 15 (4) 192 Balance, June 30, 2021 $ (470) $ (903) $ 7 $ 6 $ (1,360) Balance, December 31, 2021 $ (318) $ (1,086) $ 59 $ 5 $ (1,340) Other comprehensive income (loss) 40 (591) 103 — (448) Balance, June 30, 2022 $ (278) $ (1,677) $ 162 $ 5 $ (1,788) |
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, 2020 $ (12) $ (51) $ 10 $ (53) Other comprehensive income (loss) 4 13 (4) 13 Balance, June 30, 2021 $ (8) $ (38) $ 6 $ (40) Balance, December 31, 2021 $ (6) $ (42) $ 5 $ (43) Other comprehensive income 1 3 — 4 Balance, June 30, 2022 $ (5) $ (39) $ 5 $ (39) |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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, 2022 2021 2022 2021 Operating revenue: PacifiCorp $ 1,314 $ 1,298 $ 2,611 $ 2,540 MidAmerican Funding 897 693 1,902 1,760 NV Energy 899 767 1,592 1,358 Northern Powergrid 345 280 660 580 BHE Pipeline Group 856 706 1,891 1,799 BHE Transmission 183 182 366 362 BHE Renewables 294 267 461 457 HomeServices 1,672 1,763 2,879 2,995 BHE and Other (1) 152 108 280 294 Total operating revenue $ 6,612 $ 6,064 $ 12,642 $ 12,145 Depreciation and amortization: PacifiCorp $ 279 $ 275 $ 559 $ 539 MidAmerican Funding 277 209 527 416 NV Energy 139 137 279 273 Northern Powergrid 100 73 180 144 BHE Pipeline Group 125 121 256 239 BHE Transmission 60 60 118 118 BHE Renewables 66 61 131 121 HomeServices 14 12 29 23 BHE and Other (1) (1) (1) 2 1 Total depreciation and amortization $ 1,059 $ 947 $ 2,081 $ 1,874 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Operating income: PacifiCorp $ 158 $ 283 $ 374 $ 517 MidAmerican Funding 90 103 190 151 NV Energy 140 145 202 215 Northern Powergrid 110 126 269 277 BHE Pipeline Group 352 245 890 863 BHE Transmission 84 85 167 166 BHE Renewables 134 97 132 130 HomeServices 117 179 145 291 BHE and Other (1) 22 (55) 74 (69) Total operating income 1,207 1,208 2,443 2,541 Interest expense (550) (532) (1,082) (1,062) Capitalized interest 18 14 35 28 Allowance for equity funds 42 30 80 56 Interest and dividend income 30 26 53 47 Gains on marketable securities, net 2,528 1,966 1,271 848 Other, net (26) 48 (21) 56 Total income before income tax expense (benefit) and equity loss $ 3,249 $ 2,760 $ 2,779 $ 2,514 Interest expense: PacifiCorp $ 107 $ 105 $ 213 $ 212 MidAmerican Funding 83 78 165 156 NV Energy 52 51 103 103 Northern Powergrid 34 32 66 65 BHE Pipeline Group 36 40 73 78 BHE Transmission 38 40 76 78 BHE Renewables 45 40 86 80 HomeServices 2 1 3 2 BHE and Other (1) 153 145 297 288 Total interest expense $ 550 $ 532 $ 1,082 $ 1,062 Earnings on common shares: PacifiCorp $ 83 $ 226 $ 213 $ 395 MidAmerican Funding 204 211 445 355 NV Energy 93 100 122 134 Northern Powergrid 71 (25) 182 79 BHE Pipeline Group 199 100 521 483 BHE Transmission 62 60 124 119 BHE Renewables 249 181 353 197 HomeServices 84 135 105 219 BHE and Other (1) 1,839 1,256 674 229 Total earnings on common shares $ 2,884 $ 2,244 $ 2,739 $ 2,210 As of June 30, December 31, 2022 2021 Assets: PacifiCorp $ 28,596 $ 27,615 MidAmerican Funding 25,733 25,352 NV Energy 15,905 15,239 Northern Powergrid 9,343 9,326 BHE Pipeline Group 20,691 20,434 BHE Transmission 9,441 9,476 BHE Renewables 11,853 11,829 HomeServices 4,115 4,574 BHE and Other (1) 9,618 8,220 Total assets $ 135,295 $ 132,065 (1) The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate principally to other entities, including MidAmerican Energy Services, LLC, corporate functions and intersegment eliminations. |
Disaggregation of Revenue | The following table summarizes the Company's energy products and services revenue from contracts with customers ("Customer Revenue") by regulated and nonregulated, with further disaggregation of regulated by line of business, including a reconciliation to the Company's reportable segment information included in Note 12 (in millions): For the Three-Month Period Ended June 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,167 $ 594 $ 831 $ — $ — $ — $ — $ (1) $ 2,591 Retail gas — 136 28 — — — — — 164 Wholesale 55 119 15 — — — — (2) 187 Transmission and 45 13 18 274 — 172 — — 522 Interstate pipeline — — — — 524 — — (27) 497 Other 28 — — — — — — — 28 Total Regulated 1,295 862 892 274 524 172 — (30) 3,989 Nonregulated — — 1 42 285 15 262 151 756 Total Customer Revenue 1,295 862 893 316 809 187 262 121 4,745 Other revenue 19 35 6 29 47 (4) 32 31 195 Total $ 1,314 $ 897 $ 899 $ 345 $ 856 $ 183 $ 294 $ 152 $ 4,940 For the Six-Month Period Ended June 30, 2022 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,352 $ 1,066 $ 1,430 $ — $ — $ — $ — $ (1) $ 4,847 Retail gas — 473 79 — — — — — 552 Wholesale 110 280 35 — — — — (2) 423 Transmission and 77 28 35 543 — 348 — — 1,031 Interstate pipeline — — — — 1,269 — — (68) 1,201 Other 48 — 1 — 1 — — — 50 Total Regulated 2,587 1,847 1,580 543 1,270 348 — (71) 8,104 Nonregulated — 2 1 57 563 22 431 284 1,360 Total Customer Revenue 2,587 1,849 1,581 600 1,833 370 431 213 9,464 Other revenue 24 53 11 60 58 (4) 30 67 299 Total $ 2,611 $ 1,902 $ 1,592 $ 660 $ 1,891 $ 366 $ 461 $ 280 $ 9,763 For the Three-Month Period Ended June 30, 2021 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 1,188 $ 516 $ 708 $ — $ — $ — $ — $ (1) $ 2,411 Retail gas — 89 20 — — — — — 109 Wholesale 30 69 10 — — — — (1) 108 Transmission and 37 15 22 243 — 178 — — 495 Interstate pipeline — — — — 458 — — (25) 433 Other 31 — 1 — (1) — — — 31 Total Regulated 1,286 689 761 243 457 178 — (27) 3,587 Nonregulated — 1 1 8 232 7 239 124 612 Total Customer Revenue 1,286 690 762 251 689 185 239 97 4,199 Other revenue 12 3 5 29 17 (3) 28 11 102 Total $ 1,298 $ 693 $ 767 $ 280 $ 706 $ 182 $ 267 $ 108 $ 4,301 For the Six-Month Period Ended June 30, 2021 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail electric $ 2,333 $ 968 $ 1,219 $ — $ — $ — $ — $ (1) $ 4,519 Retail gas — 549 58 — — — — — 607 Wholesale 66 194 25 — 17 — — (1) 301 Transmission and 62 30 43 506 — 350 — — 991 Interstate pipeline — — — — 1,273 — — (66) 1,207 Other 54 — 1 — 1 — — — 56 Total Regulated 2,515 1,741 1,346 506 1,291 350 — (68) 7,681 Nonregulated — 11 1 18 469 15 405 311 1,230 Total Customer Revenue 2,515 1,752 1,347 524 1,760 365 405 243 8,911 Other revenue 25 8 11 56 39 (3) 52 51 239 Total $ 2,540 $ 1,760 $ 1,358 $ 580 $ 1,799 $ 362 $ 457 $ 294 $ 9,150 (1) The BHE and Other reportable segment represents amounts related principally to other entities, including MidAmerican Energy Services, LLC, 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, 2022 2021 2022 2021 Customer Revenue: Brokerage $ 1,544 $ 1,569 $ 2,636 $ 2,591 Franchise 17 24 37 42 Total Customer Revenue 1,561 1,593 2,673 2,633 Mortgage and other revenue 111 170 206 362 Total $ 1,672 $ 1,763 $ 2,879 $ 2,995 Three-Month Periods Six-Month Periods Ended June 30, Ended June 30, 2022 2021 2022 2021 Operating revenue by country: U.S. $ 6,087 $ 5,604 $ 11,621 $ 11,201 United Kingdom 345 280 660 580 Canada 180 180 361 357 Other — — — 7 Total operating revenue by country $ 6,612 $ 6,064 $ 12,642 $ 12,145 Income before income tax expense (benefit) and equity loss by country: U.S. $ 3,117 $ 2,611 $ 2,463 $ 2,188 United Kingdom 87 104 226 236 Canada 46 46 92 85 Other (1) (1) (2) 5 Total income before income tax expense (benefit) and equity loss by country $ 3,249 $ 2,760 $ 2,779 $ 2,514 |
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, 2022 (in millions): BHE Pipeline Group PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Transmission BHE Renewables HomeServices Total December 31, 2021 $ 1,129 $ 2,102 $ 2,369 $ 992 $ 1,814 $ 1,563 $ 95 $ 1,586 $ 11,650 Acquisitions — — — — — — — 8 8 Foreign currency translation — — — (70) — (29) — — (99) June 30, 2022 $ 1,129 $ 2,102 $ 2,369 $ 922 $ 1,814 $ 1,534 $ 95 $ 1,594 $ 11,559 |
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, 2022 2021 2022 2021 Operating revenue: Regulated electric $ 725 $ 586 $ 1,333 $ 1,131 Regulated natural gas 171 106 567 618 Other 1 1 2 11 Total operating revenue $ 897 $ 693 $ 1,902 $ 1,760 Operating income: Regulated electric $ 87 $ 103 $ 138 $ 112 Regulated natural gas 3 — 52 39 Total operating income 90 103 190 151 Interest expense (78) (74) (156) (148) Allowance for borrowed funds 5 2 9 4 Allowance for equity funds 14 8 29 14 Other, net (12) 15 (15) 26 Income before income tax benefit $ 19 $ 54 $ 57 $ 47 As of June 30, December 31, Assets: Regulated electric $ 21,967 $ 21,385 Regulated natural gas 1,667 1,871 Other 1 1 Total assets $ 23,635 $ 23,257 |
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 10 (in millions): For the Three-Month Period Ended June 30, 2022 For the Six-Month Period Ended June 30, 2022 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 185 $ 87 $ — $ 272 $ 353 $ 312 $ — $ 665 Commercial 91 31 — 122 165 119 — 284 Industrial 277 9 — 286 475 18 — 493 Natural gas transportation services — 9 — 9 — 23 — 23 Other retail (1) 41 — — 41 73 1 — 74 Total retail 594 136 — 730 1,066 473 — 1,539 Wholesale 84 34 — 118 188 92 — 280 Multi-value transmission projects 13 — — 13 28 — — 28 Other Customer Revenue — — 1 1 — — 2 2 Total Customer Revenue 691 170 1 862 1,282 565 2 1,849 Other revenue 34 1 — 35 51 2 — 53 Total operating revenue $ 725 $ 171 $ 1 $ 897 $ 1,333 $ 567 $ 2 $ 1,902 For the Three-Month Period Ended June 30, 2021 For the Six-Month Period Ended June 30, 2021 Electric Natural Gas Other Total Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 170 $ 59 $ — $ 229 $ 331 $ 367 $ — $ 698 Commercial 80 18 — 98 151 147 — 298 Industrial 230 3 — 233 420 15 — 435 Natural gas transportation services — 9 — 9 — 19 — 19 Other retail (1) 36 — — 36 66 1 — 67 Total retail 516 89 — 605 968 549 — 1,517 Wholesale 52 17 — 69 126 68 — 194 Multi-value transmission projects 15 — — 15 30 — — 30 Other Customer Revenue — — 1 1 — — 11 11 Total Customer Revenue 583 106 1 690 1,124 617 11 1,752 Other revenue 3 — — 3 7 1 — 8 Total operating revenue $ 586 $ 106 $ 1 $ 693 $ 1,131 $ 618 $ 11 $ 1,760 (1) Other retail includes provisions for rate refunds, for which any actual refunds will be reflected in the applicable customer classes upon resolution of the related regulatory proceeding. |
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, 2022 2021 2022 2021 Operating revenue: Regulated electric $ 725 $ 586 $ 1,333 $ 1,131 Regulated natural gas 171 106 567 618 Other 1 1 2 11 Total operating revenue $ 897 $ 693 $ 1,902 $ 1,760 Operating income: Regulated electric $ 87 $ 103 $ 138 $ 112 Regulated natural gas 3 — 52 39 Total operating income 90 103 190 151 Interest expense (83) (78) (165) (156) Allowance for borrowed funds 5 2 9 4 Allowance for equity funds 14 8 29 14 Other, net (10) 16 (14) 26 Income before income tax benefit $ 16 $ 51 $ 49 $ 39 As of June 30, December 31, Assets (1) : Regulated electric $ 23,158 $ 22,576 Regulated natural gas 1,746 1,950 Other 7 5 Total assets $ 24,911 $ 24,531 (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, 2022 2021 2022 2021 Operating revenue: Regulated electric $ 230 $ 189 $ 457 $ 370 Regulated natural gas 28 20 80 59 Total operating revenue $ 258 $ 209 $ 537 $ 429 Operating income: Regulated electric $ 19 $ 21 $ 49 $ 52 Regulated natural gas 4 4 12 12 Total operating income 23 25 61 64 Interest expense (14) (13) (27) (27) Allowance for borrowed funds — 1 1 1 Allowance for equity funds 2 2 4 3 Interest and dividend income 4 1 7 3 Other, net — 2 2 6 Income before income tax expense $ 15 $ 18 $ 48 $ 50 As of June 30, December 31, 2022 2021 Assets: Regulated electric $ 3,995 $ 3,829 Regulated natural gas 385 365 Other (1) 35 29 Total assets $ 4,415 $ 4,223 (1) Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments. |
Disaggregation of Revenue | The following table summarizes Sierra Pacific's revenue from contracts with customers ("Customer Revenue") by line of business, with further disaggregation of retail by customer class, including a reconciliation to Sierra Pacific's reportable segment information included in Note 11 (in millions): Three-Month Periods Ended June 30, 2022 2021 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 79 $ 19 $ 98 $ 68 $ 13 $ 81 Commercial 82 6 88 64 5 69 Industrial 53 3 56 42 2 44 Other 1 — 1 1 — 1 Total fully bundled 215 28 243 175 20 195 Distribution only service 1 — 1 1 — 1 Total retail 216 28 244 176 20 196 Wholesale, transmission and other 14 — 14 12 — 12 Total Customer Revenue 230 28 258 188 20 208 Other revenue — — — 1 — 1 Total revenue $ 230 $ 28 $ 258 $ 189 $ 20 $ 209 Six-Month Periods Ended June 30, 2022 2021 Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 162 $ 51 $ 213 $ 138 $ 38 $ 176 Commercial 151 21 172 117 15 132 Industrial 102 7 109 81 5 86 Other 3 — 3 3 — 3 Total fully bundled 418 79 497 339 58 397 Distribution only service 3 — 3 2 — 2 Total retail 421 79 500 341 58 399 Wholesale, transmission and other 35 — 35 28 — 28 Total Customer Revenue 456 79 535 369 58 427 Other revenue 1 1 2 1 1 2 Total revenue $ 457 $ 80 $ 537 $ 370 $ 59 $ 429 |
General - BHE (Details)
General - BHE (Details) | 6 Months Ended |
Jun. 30, 2022 company operatingSegment state | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of reportable segments | operatingSegment | 8 |
Number of owned and operated utility companies in the United States | 4 |
Number of states owned and operated utility companies serve customers | state | 11 |
Number of owned and operated electricity distribution companies in Great Britain | 2 |
Number of owned and operated interstate natural gas pipeline companies in the United States | 5 |
Number of owned and operated electricity transmission companies in Canada | 1 |
Number of owned and operated renewable energy businesses | 1 |
Number of owned and operated residential real estate brokerage firms in the United States | 1 |
Number of owned and operated residential real estate brokerage franchise networks in the United States | 1 |
General - EEGH (Details)
General - EEGH (Details) - EEGH | 6 Months Ended |
Jun. 30, 2022 mi | |
Iroquois Gas Transmission System, L.P. | |
Variable Interest Entity [Line Items] | |
Variable interest entity, ownership percentage | 50% |
Primary Beneficiary | General Partner | Cove Point LNG, LP | |
Variable Interest Entity [Line Items] | |
Variable interest entity, ownership percentage | 100% |
Primary Beneficiary | Limited Partner | Cove Point LNG, LP | |
Variable Interest Entity [Line Items] | |
Variable interest entity, ownership percentage | 25% |
Primary Beneficiary | Federal Energy Regulatory Commission | Iroquois Gas Transmission System, L.P. | |
Variable Interest Entity [Line Items] | |
Miles of interstate natural gas transportation pipeline | 416 |
Cash and Cash Equivalents and_3
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - PAC (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,081 | $ 1,096 | ||
Restricted cash and cash equivalents | 201 | 127 | ||
Investments and restricted cash, cash equivalents and investments | 19 | 21 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,301 | 1,244 | $ 1,500 | $ 1,445 |
PAC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 390 | 179 | ||
Restricted cash and cash equivalents | 7 | 4 | ||
Investments and restricted cash, cash equivalents and investments | 3 | 3 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 400 | $ 186 | $ 50 | $ 19 |
Cash and Cash Equivalents and_4
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - MEC (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,081 | $ 1,096 | ||
Restricted cash and cash equivalents | 201 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,301 | 1,244 | $ 1,500 | $ 1,445 |
MEC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 495 | 232 | ||
Restricted cash and cash equivalents | 8 | 7 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 503 | $ 239 | $ 38 | $ 45 |
Cash and Cash Equivalents and_5
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - LLC (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,081 | $ 1,096 | ||
Restricted cash and cash equivalents | 201 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,301 | 1,244 | $ 1,500 | $ 1,445 |
MidAmerican Funding, LLC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 497 | 233 | ||
Restricted cash and cash equivalents | 8 | 7 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 505 | $ 240 | $ 39 | $ 46 |
Cash and Cash Equivalents and_6
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - NPC (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,081 | $ 1,096 | ||
Restricted cash and cash equivalents | 201 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,301 | 1,244 | $ 1,500 | $ 1,445 |
NPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 42 | 33 | ||
Restricted cash and cash equivalents | 13 | 12 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 55 | $ 45 | $ 88 | $ 36 |
Cash and Cash Equivalents and_7
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents - SPPC (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,081 | $ 1,096 | ||
Restricted cash and cash equivalents | 201 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,301 | 1,244 | $ 1,500 | $ 1,445 |
SPPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 17 | 10 | ||
Restricted cash and cash equivalents | 7 | 6 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 24 | $ 16 | $ 15 | $ 26 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net - BHE (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | $ 90,795 | $ 89,816 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 108,357 | 107,646 |
Accumulated depreciation and amortization | (33,618) | (32,680) |
Net operating assets | 74,739 | 74,966 |
Construction work-in-progress | 4,400 | 3,800 |
Regulated | Utility generation, transmission and distribution systems | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 90,810 | 90,223 |
Regulated | Utility generation, transmission and distribution systems | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 5 years | |
Regulated | Utility generation, transmission and distribution systems | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 80 years | |
Regulated | Interstate natural gas pipeline assets | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 17,547 | 17,423 |
Regulated | Interstate natural gas pipeline assets | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 3 years | |
Regulated | Interstate natural gas pipeline assets | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 80 years | |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 14,488 | 13,695 |
Accumulated depreciation and amortization | (3,206) | (3,041) |
Net operating assets | 11,282 | 10,654 |
Nonregulated | Independent power plants | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 8,073 | 7,665 |
Nonregulated | Independent power plants | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 2 years | |
Nonregulated | Independent power plants | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 50 years | |
Nonregulated | LNG facility | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 3,373 | 3,364 |
Depreciable life | 40 years | |
Nonregulated | Other assets | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 3,042 | 2,666 |
Nonregulated | Other assets | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 2 years | |
Nonregulated | Other assets | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 30 years | |
Common Facilities | ||
Property, Plant and Equipment [Line Items] | ||
Net operating assets | $ 86,021 | 85,620 |
Property, plant and equipment, net | 90,795 | 89,816 |
Construction in Progress | ||
Property, Plant and Equipment [Line Items] | ||
Construction work-in-progress | $ 4,774 | $ 4,196 |
Property, Plant and Equipment_4
Property, Plant and Equipment, Net - PAC (Details) - PAC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 32,631 | $ 32,262 |
Accumulated depreciation and amortization | (10,874) | (10,507) |
Utility plant in-service, net | 21,757 | 21,755 |
Plant, net | 21,775 | 21,773 |
Construction work-in-progress | 1,639 | 1,141 |
Property, plant and equipment, net | $ 23,414 | 22,914 |
Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 15 years | |
Useful life, transmission | 60 years | |
Useful life, distribution | 20 years | |
Useful life, intangible asset | 5 years | |
Useful life, other | 5 years | |
Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 59 years | |
Useful life, transmission | 90 years | |
Useful life, distribution | 75 years | |
Useful life, intangible asset | 75 years | |
Useful life, other | 60 years | |
Generation | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 13,770 | 13,679 |
Transmission | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 7,952 | 7,894 |
Distribution | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 8,211 | 8,044 |
Intangible plant | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 1,114 | 1,106 |
Other assets | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 1,584 | 1,539 |
Computer software | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, intangible asset | 5 years | |
Computer software | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, intangible asset | 10 years | |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 18 | $ 18 |
Nonregulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, other | 14 years | |
Nonregulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, other | 95 years |
Property, Plant and Equipment_5
Property, Plant and Equipment, Net - MEC (Details) - MEC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 19,442 | $ 19,201 |
Construction work-in-progress | 1,062 | 1,100 |
Property, plant and equipment, net | 20,504 | 20,301 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 27,094 | 26,571 |
Accumulated depreciation and amortization | (7,658) | (7,376) |
Plant, net | 19,436 | 19,195 |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Accumulated depreciation and amortization | (1) | (1) |
Plant, net | 6 | 6 |
Nonregulated property, gross | $ 7 | 7 |
Nonregulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, other | 20 years | |
Nonregulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, other | 50 years | |
Electric Operations | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Generation | $ 17,737 | 17,397 |
Transmission | 2,583 | 2,474 |
Distribution | $ 4,725 | 4,661 |
Electric Operations | Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 20 years | |
Useful life, transmission | 52 years | |
Useful life, distribution | 20 years | |
Electric Operations | Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 70 years | |
Useful life, transmission | 75 years | |
Useful life, distribution | 75 years | |
Natural Gas Processing Plant | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Distribution | $ 2,049 | $ 2,039 |
Natural Gas Processing Plant | Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, distribution | 29 years | |
Natural Gas Processing Plant | Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, distribution | 75 years |
Property, Plant and Equipment_6
Property, Plant and Equipment, Net - NPC (Details) - NPC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 6,745 | $ 6,647 |
Construction work-in-progress | 370 | 244 |
Property, plant and equipment, net | 7,115 | 6,891 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Generation | 3,879 | 3,793 |
Distribution | 1,527 | 1,503 |
Transmission | 4,021 | 3,920 |
General and intangible | 834 | 836 |
Utility plant in-service | 10,261 | 10,052 |
Accumulated depreciation and amortization | (3,517) | (3,406) |
Plant, net | $ 6,744 | 6,646 |
Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 30 years | |
Useful life, distribution | 45 years | |
Useful life, transmission | 20 years | |
Useful life, other | 5 years | |
Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 55 years | |
Useful life, distribution | 70 years | |
Useful life, transmission | 65 years | |
Useful life, other | 65 years | |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 1 | $ 1 |
Useful life, other | 45 years |
Property, Plant and Equipment_7
Property, Plant and Equipment, Net - SPPC (Details) - SPPC - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | $ 3,476 | $ 3,340 |
Common Facilities | ||
Property, Plant and Equipment [Line Items] | ||
Construction work-in-progress | 183 | 219 |
Property, plant and equipment, net | 3,476 | 3,340 |
Regulated | Generation | ||
Property, Plant and Equipment [Line Items] | ||
Generation | 1,297 | 1,163 |
Transmission | 976 | 940 |
Distribution | 1,905 | 1,846 |
General and intangible | $ 213 | 204 |
Regulated | Generation | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 25 years | |
Useful life, transmission | 50 years | |
Useful life, distribution | 20 years | |
Useful life, other | 5 years | |
Regulated | Generation | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, generation | 60 years | |
Useful life, transmission | 100 years | |
Useful life, distribution | 100 years | |
Useful life, other | 70 years | |
Regulated | Natural Gas Processing Plant | ||
Property, Plant and Equipment [Line Items] | ||
Distribution | $ 447 | 438 |
General and intangible | $ 15 | 14 |
Regulated | Natural Gas Processing Plant | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, distribution | 35 years | |
Useful life, other | 5 years | |
Regulated | Natural Gas Processing Plant | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, distribution | 70 years | |
Useful life, other | 70 years | |
Regulated | Common Facilities | ||
Property, Plant and Equipment [Line Items] | ||
Common general | $ 376 | 370 |
Utility plant in-service | 5,229 | 4,975 |
Accumulated depreciation and amortization | (1,936) | (1,854) |
Plant, net | $ 3,293 | $ 3,121 |
Regulated | Common Facilities | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, common general | 5 years | |
Regulated | Common Facilities | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful life, common general | 70 years |
Property, Plant and Equipment_8
Property, Plant and Equipment, Net - EEGH (Details) - EEGH - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 9,897 | $ 9,961 |
Construction work-in-progress | 234 | 239 |
Property, plant and equipment, net | 10,131 | 10,200 |
Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant in service, net | 8,834 | 8,785 |
Accumulated depreciation and amortization | (2,962) | (2,901) |
Plant, net | 5,872 | 5,884 |
Construction work-in-progress | 200 | 209 |
Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant in service, net | 4,509 | 4,500 |
Accumulated depreciation and amortization | (484) | (423) |
Plant, net | 4,025 | 4,077 |
Interstate natural gas pipeline assets | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant in service, net | $ 8,728 | 8,675 |
Interstate natural gas pipeline assets | Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 21 years | |
Interstate natural gas pipeline assets | Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 44 years | |
Intangible plant | Regulated | ||
Property, Plant and Equipment [Line Items] | ||
Plant in service, net | $ 106 | 110 |
Intangible plant | Regulated | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 5 years | |
Intangible plant | Regulated | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 10 years | |
Intangible plant | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 14 years | |
Plant in service, net | $ 25 | 25 |
LNG facility | Nonregulated | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 40 years | |
Plant in service, net | $ 4,484 | $ 4,475 |
Investments and Restricted Ca_3
Investments and Restricted Cash, Cash Equivalents and Investments - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Investments: | |||||
Total investments | $ 9,760 | $ 9,760 | $ 8,490 | ||
Equity method investments: | |||||
Equity method investments | 6,330 | 6,330 | 6,554 | ||
Restricted cash and cash equivalents: | |||||
Restricted cash and investments | 878 | 878 | 916 | ||
Total investments and restricted cash, cash equivalents and investments | 16,968 | 16,968 | 15,960 | ||
Reflected as: | |||||
Current assets | 240 | 240 | 172 | ||
Noncurrent assets | 16,728 | 16,728 | 15,788 | ||
Unrealized gains recognized on marketable securities still held at the reporting date | 2,527 | $ 1,966 | 1,270 | $ 847 | |
Net gains recognized on marketable securities sold during the period | 1 | 0 | 1 | 1 | |
Gains on marketable securities, net | 2,528 | $ 1,966 | 1,271 | $ 848 | |
Quad Cities Station nuclear decommissioning trust funds | |||||
Restricted cash and cash equivalents: | |||||
Decommissioning fund investments, fair value | 658 | 658 | 768 | ||
Other restricted cash and cash equivalents | |||||
Restricted cash and cash equivalents: | |||||
Restricted cash and investments | 220 | 220 | 148 | ||
BHE Renewables tax equity investments | |||||
Equity method investments: | |||||
Equity method investments | 4,680 | 4,680 | 4,931 | ||
Iroquois Gas Transmission System, L.P. | |||||
Equity method investments: | |||||
Equity method investments | 742 | 742 | 735 | ||
Electric Transmission Texas, LLC | |||||
Equity method investments: | |||||
Equity method investments | 606 | 606 | 595 | ||
Other | |||||
Equity method investments: | |||||
Equity method investments | 302 | 302 | 293 | ||
BYD Company Limited common stock | |||||
Investments: | |||||
BYD Company Limited common stock | 9,003 | 9,003 | 7,693 | ||
Rabbi trusts | |||||
Investments: | |||||
Rabbi trusts | 429 | 429 | 492 | ||
Other | |||||
Investments: | |||||
Other | $ 328 | $ 328 | $ 305 |
Investments and Restricted Ca_4
Investments and Restricted Cash, Cash Equivalents and Investments - EEGH - Components (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Investments: | ||
Equity method investments | $ 6,330 | $ 6,554 |
Total investments | 9,760 | 8,490 |
Restricted cash and cash equivalents: | ||
Restricted cash and cash equivalents | 878 | 916 |
Current assets | 240 | 172 |
Noncurrent assets | 16,728 | 15,788 |
Total investments and restricted cash, cash equivalents and investments | 16,968 | 15,960 |
EEGH | ||
Investments: | ||
Total investments | 419 | 412 |
Restricted cash and cash equivalents: | ||
Restricted cash and cash equivalents | 25 | 17 |
Current assets | 25 | 17 |
Noncurrent assets | 419 | 412 |
Total investments and restricted cash, cash equivalents and investments | 444 | 429 |
EEGH | Customer deposits | ||
Restricted cash and cash equivalents: | ||
Restricted cash and cash equivalents | 25 | 17 |
Iroquois Gas Transmission System, L.P. | ||
Investments: | ||
Equity method investments | 742 | 735 |
Iroquois Gas Transmission System, L.P. | EEGH | ||
Investments: | ||
Equity method investments | 406 | 399 |
Investment funds | EEGH | ||
Investments: | ||
Investment funds | $ 13 | $ 13 |
Investments and Restricted Ca_5
Investments and Restricted Cash, Cash Equivalents and Investments - EEGH - Narrative (Details) - EEGH - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Investments And Restricted Cash And Investments [Line Items] | |||
Investment exceeded share of equity in net assets | $ 130 | $ 130 | |
Distributions received from investments | $ 23 | $ 20 | |
Iroquois Gas Transmission System, L.P. | |||
Investments And Restricted Cash And Investments [Line Items] | |||
Equity method investment, ownership percentage | 50% |
Investments and Restricted Ca_6
Investments and Restricted Cash, Cash Equivalents and Investments - BHE and EEGH - Reconciliation (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 2,081 | $ 1,096 | ||
Restricted cash and cash equivalents | 201 | 127 | ||
Investments and restricted cash, cash equivalents and investments | 19 | 21 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 2,301 | 1,244 | $ 1,500 | $ 1,445 |
EEGH | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 106 | 22 | ||
Restricted cash and cash equivalents | 25 | 17 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 131 | $ 39 | $ 97 | $ 48 |
Regulatory Matters - EEGH (Deta
Regulatory Matters - EEGH (Details) - EGTS - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | ||
Sep. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2022 | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||
Provision for rate refunds | $ 35 | |||
FERC Case, Disallowance Of Capitalized AFUDC, Resolved In December 2020 | ||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||
Litigation settlement expense | $ 43 | |||
Litigation settlement expense, net of tax | $ 31 | |||
Litigation settlement, reduction in expense | $ 11 | |||
Litigation settlement, reduction in expense, net of tax | $ 8 | |||
General Rate Case | Federal Energy Regulatory Commission | ||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||
Proposed annual cost-of-service | $ 1,100 | |||
General Rate Case | Federal Energy Regulatory Commission | Gas Storage | ||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||
Proposed annual cost-of-service, rate increase | 85% | |||
General Rate Case | Federal Energy Regulatory Commission | Gas Transportation | ||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||
Proposed annual cost-of-service, rate increase | 60% |
Recent Financing Transactions -
Recent Financing Transactions - BHE (Details) £ in Millions, $ in Millions | 1 Months Ended | 6 Months Ended | |||||
Jun. 30, 2022 USD ($) | May 31, 2022 USD ($) | Apr. 30, 2022 USD ($) | Jan. 31, 2022 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Apr. 30, 2022 GBP (£) | |
Debt Instrument [Line Items] | |||||||
Repayments of subsidiary debt | $ 542 | $ 1,210 | |||||
Redeemable Preferred Stock | Natural Gas Transmission and Storage | |||||||
Debt Instrument [Line Items] | |||||||
Preferred Stock, dividend rate | 4% | 4% | |||||
SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from long-term debt | 249 | 0 | |||||
NPC | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from long-term debt | 300 | $ 0 | |||||
Unsecured credit facility, $3.5 billion, expiring June 2025 | BHE | Line of Credit | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity | $ 3,500 | 3,500 | |||||
Unsecured credit facility, PacifiCorp, expiring June 2025 | PAC | Line of Credit | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity | 1,200 | 1,200 | |||||
Unsecured credit facility, $1.5 billion, expiring June 2025 | MEC | Line of Credit | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity | 1,500 | 1,500 | |||||
Secured credit facility, $400 million, expiring June 2025 | NPC | Line of Credit | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity | 400 | 400 | |||||
Secured credit facility, $250 million, expiring June 2024 | SPPC | Line of Credit | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity | 250 | $ 250 | |||||
Subsidiary Debt | Gas and water facilities refunding revenue bonds, 3.000% series 2016B, due 2036 | SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of subsidiary debt | $ 60 | ||||||
Subsidiary Debt | Mortgage securities, 4.71%, series W due 2052 | SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Face amount | $ 250 | ||||||
Stated interest rate | 4.71% | ||||||
Subsidiary Debt | Water facilities refunding revenue bonds, series 2016C, due 2036 | SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of subsidiary debt | $ 30 | ||||||
Subsidiary Debt | Water facilities refunding revenue bonds, series 2016D, due 2036 | SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of subsidiary debt | 25 | ||||||
Subsidiary Debt | Water facilities refunding revenue bonds, series 2016E, due 2036 | SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of subsidiary debt | 25 | ||||||
Subsidiary Debt | Water facilities refunding revenue bonds, series 2016F, due 2036 | SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of subsidiary debt | 75 | ||||||
Subsidiary Debt | Water facilities refunding revenue bonds, series 2016G, due 2036 | SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of subsidiary debt | 20 | ||||||
Subsidiary Debt | Pollution control refunding revenue bonds, 1.850%, Series 2016B, due 2029 | SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of subsidiary debt | $ 30 | ||||||
Subsidiary Debt | Bonds, 3.25%, due 2052 | Northern Powergrid | |||||||
Debt Instrument [Line Items] | |||||||
Face amount | £ | £ 350 | ||||||
Stated interest rate | 3.25% | 3.25% | |||||
Senior Notes | Senior Notes, 4.6%, Due 2053 | BHE | |||||||
Debt Instrument [Line Items] | |||||||
Face amount | $ 1,000 | ||||||
Stated interest rate | 4.60% | 4.60% | |||||
Line of Credit | NPC Secured Delayed Draw Term Loan Facility, Due 2024 | NPC | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity | $ 300 | ||||||
Proceeds from long-term debt | $ 100 | $ 200 | |||||
Interest rate during period | 1.24% | 0.55% | |||||
Unsecured Debt | NV Energy loan, payable upon demand | SPPC | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of subsidiary debt | $ 200 | ||||||
Face amount | $ 200 |
Recent Financing Transactions_2
Recent Financing Transactions - PAC (Details) - PAC - USD ($) $ in Millions | 1 Months Ended | |
May 31, 2022 | Jun. 30, 2022 | |
Debt Instrument [Line Items] | ||
Common stock dividend declared | $ 100 | |
Unsecured credit facility, PacifiCorp, expiring June 2025 | Line of Credit | ||
Debt Instrument [Line Items] | ||
Maximum borrowing capacity | $ 1,200 |
Recent Financing Transactions_3
Recent Financing Transactions - MEC (Details) $ in Billions | Jun. 30, 2022 USD ($) |
Line of Credit | Unsecured credit facility, $1.5 billion, expiring June 2025 | MEC | |
Debt Instrument [Line Items] | |
Maximum borrowing capacity | $ 1.5 |
Recent Financing Transactions_4
Recent Financing Transactions - NPC (Details) - NPC - USD ($) $ in Millions | 1 Months Ended | 6 Months Ended | ||
May 31, 2022 | Jan. 31, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | |
Debt Instrument [Line Items] | ||||
Proceeds from long-term debt | $ 300 | $ 0 | ||
NPC Secured Delayed Draw Term Loan Facility, Due 2024 | Line of Credit | ||||
Debt Instrument [Line Items] | ||||
Maximum borrowing capacity | $ 300 | |||
Proceeds from long-term debt | $ 100 | $ 200 | ||
Interest rate during period | 1.24% | 0.55% | ||
Secured credit facility, $400 million, expiring June 2025 | Line of Credit | ||||
Debt Instrument [Line Items] | ||||
Maximum borrowing capacity | $ 400 |
Recent Financing Transactions_5
Recent Financing Transactions - SPPC (Details) - USD ($) $ in Millions | 1 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | May 31, 2022 | Apr. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | |
Debt Instrument [Line Items] | |||||
Repayments of subsidiary debt | $ 542 | $ 1,210 | |||
Gas and water facilities refunding revenue bonds, 3.000% series 2016B, due 2036 | SPPC | Subsidiary Debt | |||||
Debt Instrument [Line Items] | |||||
Repayments of subsidiary debt | $ 60 | ||||
Mortgage securities, 4.71%, series W due 2052 | SPPC | Subsidiary Debt | |||||
Debt Instrument [Line Items] | |||||
Face amount | $ 250 | ||||
Stated interest rate | 4.71% | ||||
NV Energy loan, payable upon demand | SPPC | Unsecured Debt | |||||
Debt Instrument [Line Items] | |||||
Repayments of subsidiary debt | $ 200 | ||||
Face amount | $ 200 | ||||
NV Energy loan, payable upon demand | SPPC | Unsecured Debt | London Interbank Offered Rate | |||||
Debt Instrument [Line Items] | |||||
Basis spread on variable rate | 0.75% | ||||
Water facilities refunding revenue bonds, series 2016C, due 2036 | SPPC | Subsidiary Debt | |||||
Debt Instrument [Line Items] | |||||
Repayments of subsidiary debt | $ 30 | ||||
Water facilities refunding revenue bonds, series 2016D, due 2036 | SPPC | Subsidiary Debt | |||||
Debt Instrument [Line Items] | |||||
Repayments of subsidiary debt | 25 | ||||
Water facilities refunding revenue bonds, series 2016E, due 2036 | SPPC | Subsidiary Debt | |||||
Debt Instrument [Line Items] | |||||
Repayments of subsidiary debt | 25 | ||||
Water facilities refunding revenue bonds, series 2016F, due 2036 | SPPC | Subsidiary Debt | |||||
Debt Instrument [Line Items] | |||||
Repayments of subsidiary debt | 75 | ||||
Water facilities refunding revenue bonds, series 2016G, due 2036 | SPPC | Subsidiary Debt | |||||
Debt Instrument [Line Items] | |||||
Repayments of subsidiary debt | 20 | ||||
Pollution control refunding revenue bonds, 1.850%, Series 2016B, due 2029 | SPPC | Subsidiary Debt | |||||
Debt Instrument [Line Items] | |||||
Repayments of subsidiary debt | $ 30 | ||||
Secured credit facility, $250 million, expiring June 2024 | SPPC | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 250 | $ 250 |
Income Taxes - BHE (Details)
Income Taxes - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 01, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% | |
Income tax credits | (13.00%) | (13.00%) | (28.00%) | (27.00%) | |
State income tax, net of federal income tax impacts | (1.00%) | 4% | 0% | 2% | |
Income tax effect of foreign income | 0% | 3% | (1.00%) | 3% | |
Effects of ratemaking | (1.00%) | (2.00%) | (2.00%) | (4.00%) | |
Equity income | (1.00%) | 0% | (1.00%) | (2.00%) | |
Noncontrolling interest | (1.00%) | (1.00%) | (2.00%) | (2.00%) | |
Other | 1% | 0% | 0% | 1% | |
Effective income tax rate | 5% | 12% | (13.00%) | (8.00%) | |
Years eligible for federal renewable energy production tax credit | 10 years | ||||
Production tax credits | $ 734 | $ 678 | |||
United Kingdom | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Income tax effect, change in enacted tax rate | $ 109 | ||||
Income tax effect, change in enacted tax rate, percentage | 19% | ||||
United Kingdom | Subsequent Event | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Income tax effect, change in enacted tax rate, percentage | 25% | ||||
Parent Company | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||||
Related party transaction, cash received (paid) for income taxes | $ 1,249 | $ 943 |
Income Taxes - PAC (Details)
Income Taxes - PAC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
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 | (1.00%) | 4% | 0% | 2% |
Income tax credits | (13.00%) | (13.00%) | (28.00%) | (27.00%) |
Effects of ratemaking | (1.00%) | (2.00%) | (2.00%) | (4.00%) |
Other | 1% | 0% | 0% | 1% |
Effective income tax rate | 5% | 12% | (13.00%) | (8.00%) |
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 734 | $ 678 | ||
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 | 4% | 4% | 3% | 4% |
Income tax credits | (25.00%) | (19.00%) | (21.00%) | (19.00%) |
Effects of ratemaking | (13.00%) | (15.00%) | (11.00%) | (14.00%) |
Valuation allowance | 0% | 0% | 4% | 0% |
Other | 2% | 0% | 1% | 0% |
Effective income tax rate | (11.00%) | (9.00%) | (3.00%) | (8.00%) |
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 18 | $ 40 | $ 44 | $ 71 |
Related party transaction, cash received (paid) for income taxes | $ 150 | $ 93 |
Income Taxes - MEC (Details)
Income Taxes - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | (13.00%) | (13.00%) | (28.00%) | (27.00%) |
State income tax, net of federal income tax impacts | (1.00%) | 4% | 0% | 2% |
Effects of ratemaking | (1.00%) | (2.00%) | (2.00%) | (4.00%) |
Other | 1% | 0% | 0% | 1% |
Effective income tax rate | 5% | 12% | (13.00%) | (8.00%) |
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 734 | $ 678 | ||
MEC | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | (973.00%) | (271.00%) | (682.00%) | (634.00%) |
State income tax, net of federal income tax impacts | (26.00%) | (31.00%) | (23.00%) | (32.00%) |
Effects of ratemaking | (11.00%) | (15.00%) | (9.00%) | (21.00%) |
Other | 0% | 2% | 2% | 0% |
Effective income tax rate | (989.00%) | (294.00%) | (691.00%) | (666.00%) |
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 388 | $ 297 | ||
MEC | BHE | ||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Related party transaction, cash received (paid) for income taxes | $ 541 | $ 558 |
Income Taxes - LLC (Details)
Income Taxes - LLC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Income tax credits | (13.00%) | (13.00%) | (28.00%) | (27.00%) |
State income tax, net of federal income tax impacts | (1.00%) | 4% | 0% | 2% |
Effects of ratemaking | (1.00%) | (2.00%) | (2.00%) | (4.00%) |
Other | 1% | 0% | 0% | 1% |
Effective income tax rate | 5% | 12% | (13.00%) | (8.00%) |
Production Tax Credit Carryforwards [Abstract] | ||||
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 734 | $ 678 | ||
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 | (1150.00%) | (286.00%) | (793.00%) | (764.00%) |
State income tax, net of federal income tax impacts | (38.00%) | (33.00%) | (29.00%) | (41.00%) |
Effects of ratemaking | (12.00%) | (16.00%) | (10.00%) | (26.00%) |
Other | 4% | 0% | 3% | 0% |
Effective income tax rate | (1175.00%) | (314.00%) | (808.00%) | (810.00%) |
Production Tax Credit Carryforwards [Abstract] | ||||
Years eligible for federal renewable energy production tax credit | 10 years | |||
Production tax credits | $ 388 | $ 297 | ||
MidAmerican Funding, LLC | BHE | ||||
Related Party Income Tax Receivable (Payable) [Abstract] | ||||
Related party transaction, cash received (paid) for income taxes | $ 544 | $ 560 |
Income Taxes - NPC (Details)
Income Taxes - NPC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (1.00%) | (2.00%) | (2.00%) | (4.00%) |
Other | 1% | 0% | 0% | 1% |
Effective income tax rate | 5% | 12% | (13.00%) | (8.00%) |
NPC | ||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (10.00%) | (11.00%) | (10.00%) | (11.00%) |
Other | 1% | 0% | 1% | 0% |
Effective income tax rate | 12% | 10% | 12% | 10% |
Related party transaction, cash received (paid) for income taxes | $ 21 | $ (15) |
Income Taxes - SPPC (Details)
Income Taxes - SPPC (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (1.00%) | (2.00%) | (2.00%) | (4.00%) |
Income tax credits | (13.00%) | (13.00%) | (28.00%) | (27.00%) |
Other | 1% | 0% | 0% | 1% |
Effective income tax rate | 5% | 12% | (13.00%) | (8.00%) |
SPPC | ||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Federal statutory income tax rate | 21% | 21% | 21% | 21% |
Effects of ratemaking | (8.00%) | (11.00%) | (7.00%) | (9.00%) |
Income tax credits | 0% | (1.00%) | 0% | 0% |
Other | 0% | (3.00%) | 1% | (2.00%) |
Effective income tax rate | 13% | 6% | 15% | 10% |
Related party transaction, cash received (paid) for income taxes | $ 0 | $ 0 |
Income Taxes - EEGH (Details)
Income Taxes - EEGH (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
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 | (1.00%) | 4% | 0% | 2% |
Equity interest | (1.00%) | 0% | (1.00%) | (2.00%) |
Noncontrolling interest | (1.00%) | (1.00%) | (2.00%) | (2.00%) |
Other | 1% | 0% | 0% | 1% |
Effective income tax rate | 5% | 12% | (13.00%) | (8.00%) |
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 | 3% | 2% | 4% | 3% |
Equity interest | 1% | 1% | 1% | 1% |
Effects of ratemaking | 0% | (1.00%) | (2.00%) | (1.00%) |
Noncontrolling interest | (10.00%) | (12.00%) | (10.00%) | (11.00%) |
Other | 0% | 2% | 0% | 0% |
Effective income tax rate | 15% | 13% | 14% | 13% |
EEGH | Cove Point LNG, LP | ||||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | ||||
Ownership interest | 75% |
Employee Benefit Plans - BHE (D
Employee Benefit Plans - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 4 | $ 4 | $ 6 | $ 6 |
Interest cost | 5 | 5 | 10 | 10 |
Expected return on plan assets | (7) | (6) | (14) | (11) |
Net amortization | (1) | (1) | (1) | (2) |
Net periodic benefit cost (credit) | 1 | 2 | 1 | 3 |
U.S. | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 6 | 8 | 13 | 15 |
Interest cost | 19 | 18 | 38 | 38 |
Expected return on plan assets | (27) | (36) | (54) | (69) |
Settlement | 0 | 0 | 2 | 0 |
Net amortization | 5 | 7 | 9 | 13 |
Net periodic benefit cost (credit) | 3 | (3) | 8 | (3) |
United Kingdom | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 3 | 4 | 7 | 8 |
Interest cost | 9 | 7 | 19 | 15 |
Expected return on plan assets | (23) | (28) | (48) | (56) |
Net amortization | 6 | 14 | 12 | 28 |
Net periodic benefit cost (credit) | $ (5) | $ (3) | $ (10) | $ (5) |
Employee Benefit Plans - BHE -
Employee Benefit Plans - BHE - Employer Contributions (Details) - 6 months ended Jun. 30, 2022 £ 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 | 5 | ||
U.S. | Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, expected contributions in current fiscal year | 13 | ||
Employer contributions | 7 | ||
United Kingdom | Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, expected contributions in current fiscal year | £ | £ 12 | ||
Employer contributions | $ 8 | £ 6 |
Employee Benefit Plans - PAC (D
Employee Benefit Plans - PAC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 4 | $ 4 | $ 6 | $ 6 |
Interest cost | 5 | 5 | 10 | 10 |
Expected return on plan assets | (7) | (6) | (14) | (11) |
Net amortization | (1) | (1) | (1) | (2) |
Net periodic benefit cost (credit) | 1 | 2 | 1 | 3 |
PAC | Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | 1 | 1 | 1 |
Interest cost | 2 | 2 | 4 | 4 |
Expected return on plan assets | (3) | (2) | (5) | (4) |
Net amortization | 0 | 0 | 0 | 0 |
Net periodic benefit cost (credit) | 0 | 1 | 0 | 1 |
U.S. | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 6 | 8 | 13 | 15 |
Interest cost | 19 | 18 | 38 | 38 |
Expected return on plan assets | (27) | (36) | (54) | (69) |
Net amortization | 5 | 7 | 9 | 13 |
Net periodic benefit cost (credit) | 3 | (3) | 8 | (3) |
U.S. | PAC | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 7 | 7 | 14 | 14 |
Expected return on plan assets | (11) | (14) | (21) | (27) |
Net amortization | 4 | 5 | 8 | 10 |
Net periodic benefit cost (credit) | $ 0 | $ (2) | $ 1 | $ (3) |
Employee Benefit Plans - PAC -
Employee Benefit Plans - PAC - Employer Contributions (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | $ 5 |
Employer contributions | 5 |
PAC | Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 0 |
U.S. | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 13 |
Employer contributions | 7 |
U.S. | PAC | 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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Pension Plan | U.S. | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 6 | $ 8 | $ 13 | $ 15 |
Interest cost | 19 | 18 | 38 | 38 |
Expected return on plan assets | (27) | (36) | (54) | (69) |
Settlement | 0 | 0 | 2 | 0 |
Net amortization | 5 | 7 | 9 | 13 |
Net periodic benefit cost (credit) | 3 | (3) | 8 | (3) |
Pension Plan | U.S. | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 4 | 5 | 9 | 10 |
Interest cost | 5 | 5 | 10 | 11 |
Expected return on plan assets | (7) | (10) | (14) | (19) |
Settlement | 0 | 0 | 2 | 0 |
Net amortization | 1 | 1 | 1 | 1 |
Net periodic benefit cost (credit) | 3 | 1 | 8 | 3 |
Other Postretirement Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 4 | 4 | 6 | 6 |
Interest cost | 5 | 5 | 10 | 10 |
Expected return on plan assets | (7) | (6) | (14) | (11) |
Net amortization | (1) | (1) | (1) | (2) |
Net periodic benefit cost (credit) | 1 | 2 | 1 | 3 |
Other Postretirement Plans | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 2 | 2 | 4 | 4 |
Interest cost | 2 | 2 | 4 | 4 |
Expected return on plan assets | (3) | (3) | (7) | (5) |
Net amortization | (1) | (1) | (1) | (2) |
Net periodic benefit cost (credit) | $ 0 | $ 0 | $ 0 | $ 1 |
Employee Benefit Plans - MEC -
Employee Benefit Plans - MEC - Employer Contributions (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | $ 5 |
Employer contributions | 5 |
MEC | Other Postretirement Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 3 |
Employer contributions | 2 |
U.S. | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 13 |
Employer contributions | 7 |
U.S. | MEC | Pension Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plan, expected contributions in current fiscal year | 7 |
Employer contributions | $ 4 |
Employee Benefit Plans - NPC (D
Employee Benefit Plans - NPC (Details) - NPC - U.S. - NV Energy - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Other Assets | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | $ 8 | $ 8 |
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 | (8) | (8) |
Qualified Plan | Other Assets | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | $ 42 | $ 42 |
Employee Benefit Plans - SPPC (
Employee Benefit Plans - SPPC (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | $ 5 | |
U.S. | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 7 | |
SPPC | U.S. | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 2 | |
SPPC | U.S. | NV Energy | Other Current Liabilities | Other Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other current liabilities | (1) | $ (1) |
SPPC | U.S. | NV Energy | Other Noncurrent Liabilities | Other Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other long-term liabilities | (7) | (7) |
SPPC | U.S. | NV Energy | Other Noncurrent Liabilities | Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other long-term liabilities | (8) | (10) |
SPPC | Qualified Plan | U.S. | NV Energy | Other Assets | Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other non-current assets | $ 64 | $ 62 |
Employee Benefit Plans - EEGH (
Employee Benefit Plans - EEGH (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
EEGH | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension plan liability, noncurrent | $ 95 | $ 95 |
Pension Plan | EEGH | MidAmerican Energy Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 6 | |
Other Postretirement Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 5 | |
Other Postretirement Plans | EEGH | MidAmerican Energy Retiree Health and Welfare Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | $ 1 |
Risk Management and Hedging A_3
Risk Management and Hedging Activities - PAC - Balance Sheet Location (Details) - PAC - Commodity derivatives - USD ($) $ in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||||||
Total | $ 223 | $ 53 | ||||
Cash collateral payable | (64) | 5 | ||||
Total derivatives - net basis | 159 | 58 | ||||
Derivative Contracts - Current Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total | 182 | 76 | ||||
Cash collateral payable | (55) | 0 | ||||
Total derivatives - net basis | 127 | 76 | ||||
Other Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total | 80 | 20 | ||||
Cash collateral payable | (9) | 0 | ||||
Total derivatives - net basis | 71 | 20 | ||||
Other Current Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total | (35) | (36) | ||||
Cash collateral payable | 0 | 5 | ||||
Total derivatives - net basis | (35) | (31) | ||||
Other Noncurrent Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Total | (4) | (7) | ||||
Cash collateral payable | 0 | 0 | ||||
Total derivatives - net basis | (4) | (7) | ||||
Not Designated as Hedging | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 272 | 104 | ||||
Derivative liability | (49) | (51) | ||||
Total | 223 | 53 | ||||
Net regulatory asset (liability) on derivative contracts | (223) | $ (195) | (53) | $ (102) | $ 0 | $ 17 |
Not Designated as Hedging | Derivative Contracts - Current Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 183 | 81 | ||||
Derivative liability | (1) | (5) | ||||
Total | 182 | 76 | ||||
Not Designated as Hedging | Other Assets | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 80 | 21 | ||||
Derivative liability | 0 | (1) | ||||
Total | 80 | 20 | ||||
Not Designated as Hedging | Other Current Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 9 | 2 | ||||
Derivative liability | (44) | (38) | ||||
Total | (35) | (36) | ||||
Not Designated as Hedging | Other Noncurrent Liabilities | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, gross | 0 | 0 | ||||
Derivative liability | (4) | (7) | ||||
Total | $ (4) | $ (7) |
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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Instruments [Roll Forward] | ||||
Beginning balance | $ (195) | $ 0 | $ (53) | $ 17 |
Changes in fair value recognized in regulatory assets | (49) | (102) | (217) | (119) |
Net losses reclassified to operating revenue | (8) | (5) | (11) | (5) |
Net gains reclassified to energy costs | 29 | 5 | 58 | 5 |
Ending balance | $ (223) | $ (102) | $ (223) | $ (102) |
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 | Jun. 30, 2022 Dth MWh | Dec. 31, 2021 MWh Dth |
Electricity purchases, net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | MWh | 2 | 2 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | Dth | 105 | 106 |
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, 2022 | Dec. 31, 2021 |
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 47 | $ 37 |
Collateral already posted, aggregate fair value | 0 | 5 |
Additional collateral, aggregate fair value | $ 33 | $ 23 |
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, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | $ 1 | $ 4 |
Derivative liability | (176) | (117) |
Total | (175) | (113) |
Net regulatory asset (liability) on derivative contracts | 175 | 113 |
Other Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 4 |
Derivative liability | 0 | 0 |
Total | 0 | 4 |
Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 1 | 0 |
Derivative liability | 0 | 0 |
Total | 1 | 0 |
Derivative Contracts - Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | (122) | (55) |
Total | (122) | (55) |
Other Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | (54) | (62) |
Total | $ (54) | $ (62) |
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 | Jun. 30, 2022 Dth MWh | Dec. 31, 2021 MWh Dth |
Electricity purchases (sales), net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | MWh | 3 | 1 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | Dth | 113 | 119 |
Risk Management and Hedging A_9
Risk Management and Hedging Activities - NPC - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Commodity derivatives | NPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 7 | $ 6 |
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, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | $ 1 | $ 2 |
Derivative liability | (55) | (35) |
Total | (54) | (33) |
Net regulatory asset (liability) on derivative contracts | 54 | 33 |
Other Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 2 |
Derivative liability | 0 | 0 |
Total | 0 | 2 |
Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 1 | 0 |
Derivative liability | 0 | 0 |
Total | 1 | 0 |
Derivative Contracts - Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | (38) | (16) |
Total | (38) | (16) |
Other Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | (17) | (19) |
Total | $ (17) | $ (19) |
Risk Management and Hedging _11
Risk Management and Hedging Activities - SPPC - Derivative Contract Volumes (Details) - SPPC - Commodity derivatives MWh in Millions, Dth in Millions | Jun. 30, 2022 MWh Dth | Dec. 31, 2021 MWh Dth |
Electricity purchases (sales), net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | MWh | 1 | 1 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Nonmonetary notional amount | Dth | 50 | 53 |
Risk Management and Hedging _12
Risk Management and Hedging Activities -SPPC - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Commodity derivatives | SPPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 0 | $ 0 |
Fair Value Measurements - BHE (
Fair Value Measurements - BHE (Details) - Recurring - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (164) | $ (47) |
Assets, fair value | 13,162 | 10,843 |
Derivative liability, offset | 77 | 73 |
Derivative liability | (431) | (277) |
Cash collateral receivable (payable) | (87) | 26 |
Mortgage loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 1,084 | 1,263 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,492 | 554 |
U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 220 | 232 |
International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 75 | 90 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 348 | 428 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 9,011 | 7,703 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 258 | 237 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 11,356 | 9,160 |
Derivative liability | (14) | (2) |
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 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,492 | 554 |
Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 220 | 232 |
Level 1 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 348 | 428 |
Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 9,011 | 7,703 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 258 | 237 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,869 | 1,637 |
Derivative liability | (236) | (123) |
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 | 1,084 | 1,263 |
Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 2 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 75 | 90 |
Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Level 2 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
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 | 101 | 93 |
Derivative liability | (258) | (225) |
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 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 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 | (164) | (47) |
Derivative asset | 584 | 302 |
Derivative liability, offset | 77 | 73 |
Derivative liability | (403) | (266) |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 11 | 5 |
Derivative liability, gross | (14) | (2) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 660 | 271 |
Derivative liability, gross | (211) | (113) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 77 | 73 |
Derivative liability, gross | (255) | (224) |
Foreign currency exchange rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 3 | |
Derivative liability | (19) | (3) |
Foreign currency exchange rate derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | |
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 asset, gross | 3 | |
Derivative liability, gross | (19) | (3) |
Foreign currency exchange rate derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | |
Derivative liability, gross | 0 | 0 |
Interest rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 85 | 24 |
Derivative liability, offset | 0 | |
Derivative liability | (9) | (8) |
Interest rate derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 16 | 1 |
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 | 45 | 3 |
Derivative liability, gross | (6) | (7) |
Interest rate derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 24 | 20 |
Derivative liability, gross | $ (3) | $ (1) |
Fair Value Measurements - BHE -
Fair Value Measurements - BHE - Level 3 (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Commodity derivatives | ||||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (239) | $ 124 | $ (151) | $ 116 |
Changes included in earnings | (26) | (10) | (82) | (16) |
Changes in fair value recognized in OCI | 5 | (6) | 10 | (7) |
Changes in fair value recognized in regulatory assets | 1 | (7) | (59) | 9 |
Purchases | 1 | 1 | 1 | 1 |
Settlements | 11 | 3 | 34 | 2 |
Transfers out of Level 3 into Level 2 | 69 | 69 | ||
Ending balance | (178) | 105 | (178) | 105 |
Interest rate derivatives | ||||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 13 | 41 | 19 | 62 |
Changes included in earnings | 8 | 0 | 2 | (21) |
Changes in fair value recognized in OCI | 0 | 0 | 0 | 0 |
Changes in fair value recognized in regulatory assets | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Transfers out of Level 3 into Level 2 | 0 | 0 | ||
Ending balance | $ 21 | $ 41 | $ 21 | $ 41 |
Fair Value Measurements - BHE_2
Fair Value Measurements - BHE - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $ 51,117 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 48,636 | $ 57,189 |
Fair Value Measurements - PAC (
Fair Value Measurements - PAC (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (164) | $ (47) |
Assets, fair value | 13,162 | 10,843 |
Derivative liability, offset | 77 | 73 |
Derivative liability | (431) | (277) |
Cash collateral receivable (payable) | (87) | 26 |
Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,492 | 554 |
Recurring | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 258 | 237 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 11,356 | 9,160 |
Derivative liability | (14) | (2) |
Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,492 | 554 |
Recurring | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 258 | 237 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,869 | 1,637 |
Derivative liability | (236) | (123) |
Recurring | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 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 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 101 | 93 |
Derivative liability | (258) | (225) |
Recurring | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Recurring | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (164) | (47) |
Derivative asset | 584 | 302 |
Derivative liability, offset | 77 | 73 |
Derivative liability | (403) | (266) |
Commodity derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 11 | 5 |
Derivative liability, gross | (14) | (2) |
Commodity derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 660 | 271 |
Derivative liability, gross | (211) | (113) |
Commodity derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 77 | 73 |
Derivative liability, gross | (255) | (224) |
PAC | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 598 | 304 |
PAC | Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 374 | 181 |
PAC | Recurring | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 26 | 27 |
PAC | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 400 | 208 |
PAC | Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 374 | 181 |
PAC | Recurring | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 26 | 27 |
PAC | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 272 | 104 |
PAC | Recurring | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
PAC | Recurring | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
PAC | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
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] | ||
Equity securities | 0 | 0 |
PAC | Recurring | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
PAC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash collateral receivable (payable) | (64) | 5 |
PAC | Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (74) | (8) |
Derivative asset | 198 | 96 |
Derivative liability, offset | 10 | 13 |
Derivative liability | (39) | (38) |
Cash collateral receivable (payable) | (64) | 5 |
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 | 272 | 104 |
Derivative liability, gross | (49) | (51) |
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, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $ 51,117 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 48,636 | 57,189 |
PAC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | 8,723 | 8,730 |
PAC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 8,555 | $ 10,374 |
Fair Value Measurements - MEC (
Fair Value Measurements - MEC (Details) - Recurring - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (164) | $ (47) |
Assets, fair value | 13,162 | 10,843 |
Derivative liability, offset | 77 | 73 |
Cash collateral payable | (87) | 26 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,492 | 554 |
U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 220 | 232 |
International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 75 | 90 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 348 | 428 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 9,011 | 7,703 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 258 | 237 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 11,356 | 9,160 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,492 | 554 |
Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 220 | 232 |
Level 1 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 1 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 348 | 428 |
Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 9,011 | 7,703 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 258 | 237 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,869 | 1,637 |
Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 2 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 2 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 75 | 90 |
Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Level 2 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
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 | 101 | 93 |
Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Level 3 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 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 | (164) | (47) |
Derivative liability, offset | 77 | 73 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 11 | 5 |
Derivative liability | (14) | (2) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 660 | 271 |
Derivative liability | (211) | (113) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 77 | 73 |
Derivative liability | (255) | (224) |
MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,248 | 1,041 |
Cash collateral payable | (15) | 5 |
MEC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 498 | 228 |
MEC | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 220 | 232 |
MEC | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
MEC | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 75 | 90 |
MEC | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
MEC | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
MEC | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 348 | 428 |
MEC | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 8 | 10 |
MEC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 21 | 18 |
MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,096 | 916 |
MEC | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 498 | 228 |
MEC | Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 220 | 232 |
MEC | Level 1 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 1 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 1 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 1 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 1 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 348 | 428 |
MEC | Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 8 | 10 |
MEC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 21 | 18 |
MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 146 | 129 |
MEC | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
MEC | Level 2 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 2 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
MEC | Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 75 | 90 |
MEC | Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
MEC | Level 2 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
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 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 28 | 3 |
MEC | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 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 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 3 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 3 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
MEC | Level 3 | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 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 | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 73 | 28 |
Derivative asset, offset | (22) | (7) |
Derivative liability | (6) | (2) |
Derivative liability, offset | 7 | 12 |
MEC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 1 | 0 |
Derivative liability | (1) | 0 |
MEC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 66 | 32 |
Derivative liability | (10) | (6) |
MEC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 28 | 3 |
Derivative liability | $ (2) | $ (8) |
Fair Value Measurements - MEC -
Fair Value Measurements - MEC - Level 3 (Details) - MEC - Commodity - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ 4 | $ 1 | $ (5) | $ 2 |
Changes in fair value recognized in regulatory assets | 31 | 0 | 44 | 0 |
Settlements | (9) | (2) | (13) | (3) |
Ending balance | $ 26 | $ (1) | $ 26 | $ (1) |
Fair Value Measurements - MEC_2
Fair Value Measurements - MEC - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $ 51,117 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 48,636 | 57,189 |
MEC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | 7,725 | 7,721 |
MEC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 7,376 | $ 9,037 |
Fair Value Measurements - LLC (
Fair Value Measurements - LLC (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $ 51,117 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 48,636 | 57,189 |
MidAmerican Funding, LLC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | 7,965 | 7,961 |
MidAmerican Funding, LLC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 7,646 | $ 9,350 |
Fair Value Measurements - NPC (
Fair Value Measurements - NPC (Details) - Recurring - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 13,162 | $ 10,843 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 11,356 | 9,160 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,869 | 1,637 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 101 | 93 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 11 | 5 |
Derivative liability | (14) | (2) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 660 | 271 |
Derivative liability | (211) | (113) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 77 | 73 |
Derivative liability | (255) | (224) |
NPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 38 | 41 |
NPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 34 | 34 |
NPC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 3 | 3 |
NPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 37 | 37 |
NPC | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 34 | 34 |
NPC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 3 | 3 |
NPC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
NPC | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 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 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1 | 4 |
NPC | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 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 | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 1 | 4 |
Derivative liability | (176) | (117) |
NPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | 0 | 0 |
NPC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | 0 | 0 |
NPC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 1 | 4 |
Derivative liability | $ (176) | $ (117) |
Fair Value Measurements - NPC -
Fair Value Measurements - NPC - Level 3 (Details) - NPC - Commodity - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (168) | $ 27 | $ (113) | $ 15 |
Changes in fair value recognized in regulatory assets | (21) | (6) | (77) | 5 |
Settlements | 14 | 4 | 15 | 5 |
Ending balance | $ (175) | $ 25 | $ (175) | $ 25 |
Fair Value Measurements - NPC_2
Fair Value Measurements - NPC - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $ 51,117 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 48,636 | 57,189 |
NPC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | 2,800 | 2,499 |
NPC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 2,807 | $ 3,067 |
Fair Value Measurements - SPPC
Fair Value Measurements - SPPC (Details) - Recurring - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 13,162 | $ 10,843 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 11,356 | 9,160 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,869 | 1,637 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 101 | 93 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 11 | 5 |
Derivative liability | (14) | (2) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 660 | 271 |
Derivative liability | (211) | (113) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 77 | 73 |
Derivative liability | (255) | (224) |
SPPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 16 | 13 |
SPPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 14 | 10 |
SPPC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1 | 1 |
SPPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 15 | 11 |
SPPC | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 14 | 10 |
SPPC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1 | 1 |
SPPC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
SPPC | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 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 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1 | 2 |
SPPC | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
SPPC | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
SPPC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 1 | 2 |
Derivative liability | (55) | (35) |
SPPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | 0 | 0 |
SPPC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 0 | 0 |
Derivative liability | 0 | 0 |
SPPC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, gross | 1 | 2 |
Derivative liability | $ (55) | $ (35) |
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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (52) | $ 12 | $ (33) | $ 7 |
Changes in fair value recognized in regulatory assets | (7) | (1) | (26) | 4 |
Settlements | 5 | 1 | 5 | 1 |
Ending balance | $ (54) | $ 12 | $ (54) | $ 12 |
Fair Value Measurements - SPP_3
Fair Value Measurements - SPPC - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $ 51,117 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 48,636 | 57,189 |
SPPC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | 1,148 | 1,164 |
SPPC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,164 | $ 1,316 |
Fair Value Measurements - EEGH
Fair Value Measurements - EEGH (Details) - Recurring - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | $ 13,162 | $ 10,843 |
Derivative liability | (431) | (277) |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,492 | 554 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 258 | 237 |
EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | 79 | 16 |
Derivative liability | (20) | (3) |
EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 66 | |
EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 13 | 13 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | 11,356 | 9,160 |
Derivative liability | (14) | (2) |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 1,492 | 554 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 258 | 237 |
Level 1 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | 79 | 13 |
Derivative liability | 0 | 0 |
Level 1 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 66 | |
Level 1 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 13 | 13 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | 1,869 | 1,637 |
Derivative liability | (236) | (123) |
Level 2 | Money market mutual funds | ||
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 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | 0 | 3 |
Derivative liability | (20) | (3) |
Level 2 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | |
Level 2 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | 101 | 93 |
Derivative liability | (258) | (225) |
Level 3 | Money market mutual funds | ||
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 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | 0 | 0 |
Derivative liability | 0 | 0 |
Level 3 | EEGH | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | |
Level 3 | EEGH | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 584 | 302 |
Derivative liability | (403) | (266) |
Commodity derivatives | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (1) | |
Commodity derivatives | Level 1 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 0 | |
Commodity derivatives | Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (1) | |
Commodity derivatives | Level 3 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 0 | |
Foreign currency exchange rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 3 | |
Derivative liability | (19) | (3) |
Foreign currency exchange rate derivatives | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 3 | |
Derivative liability | (19) | (3) |
Foreign currency exchange rate derivatives | Level 1 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
Derivative liability | 0 | 0 |
Foreign currency exchange rate derivatives | Level 2 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 3 | |
Derivative liability | (19) | (3) |
Foreign currency exchange rate derivatives | Level 3 | EEGH | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | |
Derivative liability | 0 | 0 |
Interest rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 85 | 24 |
Derivative liability | $ (9) | $ (8) |
Fair Value Measurements - EEG_2
Fair Value Measurements - EEGH - Debt (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $ 51,117 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 48,636 | 57,189 |
EEGH | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | 3,886 | 3,906 |
EEGH | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 3,656 | $ 4,266 |
Commitments and Contingencies -
Commitments and Contingencies - Construction Commitments and Fuel Contracts (Details) - PAC $ in Millions | Jun. 30, 2022 USD ($) |
Construction Commitment | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | $ 849 |
Coal Supply Agreements | |
Long-Term Purchase Commitment [Line Items] | |
Purchase obligation | $ 200 |
Commitments and Contingencies_2
Commitments and Contingencies - Legal Matters (Details) - 2020 Wildfires - PAC naturalGasProducer in Thousands, a in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | |
Sep. 30, 2020 USD ($) a naturalGasProducer | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Loss Contingencies [Line Items] | |||
Number of acres burned | a | 500 | ||
Number of structures destroyed | naturalGasProducer | 2 | ||
Fire suppression costs | $ 150 | ||
Loss in period | $ 64 | ||
Estimate of possible loss | 200 | $ 136 | |
Expected insurance recoveries | $ 277 |
Commitments and Contingencies_3
Commitments and Contingencies - Environmental Laws and Regulations (Details) - PAC - Klamath Hydroelectric System $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
ContractualObligationFiscalYearMaturityScheduleTable [Line Items] | |
Dam removal cost limit | $ 200 |
Additional dam removal costs, California bond measure | 250 |
Hydroelectric dam removal cost, additional contingency funding | 45 |
Hydroelectric dam removal cost, total funding | $ 450 |
Commitments and Contingencies_4
Commitments and Contingencies - Transmission Rates (Details) - MEC - Transmission $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Loss Contingencies [Line Items] | |
Public utilities, approved return on equity adder | 0.50% |
Unfavorable Regulatory Action | |
Loss Contingencies [Line Items] | |
Accrued liability for estimated transmission billings refunds | $ 8 |
Prior to September 2016 | |
Loss Contingencies [Line Items] | |
Public utilities, approved return on equity | 12.38% |
November 2013 to February 2015 | |
Loss Contingencies [Line Items] | |
Public utilities, approved return on equity | 10.32% |
Public utilities, proposed return on equity | 9.15% |
February 2015 through May 2016 | |
Loss Contingencies [Line Items] | |
Public utilities, proposed return on equity | 8.67% |
Nov 2019 Order For Nov 2013 to Feb 2015 and Sept 2016 Forward | |
Loss Contingencies [Line Items] | |
Public utilities, approved return on equity | 9.88% |
Public utilities, approved return on equity plus adder | 10.38% |
May 2020 Order For Nov 2013 to Feb 2015 and Sept 2016 Forward | |
Loss Contingencies [Line Items] | |
Public utilities, approved return on equity | 10.02% |
Public utilities, approved return on equity plus adder | 10.52% |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 4,745 | $ 4,199 | $ 9,464 | $ 8,911 |
Operating revenue | 6,612 | 6,064 | 12,642 | 12,145 |
Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 4,940 | 4,301 | 9,763 | 9,150 |
Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 195 | 102 | 299 | 239 |
PAC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,295 | 1,286 | 2,587 | 2,515 |
Operating revenue | 1,314 | 1,298 | 2,611 | 2,540 |
PAC | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,314 | 1,298 | 2,611 | 2,540 |
PAC | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 19 | 12 | 24 | 25 |
MidAmerican Funding | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 862 | 690 | 1,849 | 1,752 |
Operating revenue | 897 | 693 | 1,902 | 1,760 |
MidAmerican Funding | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 897 | 693 | 1,902 | 1,760 |
MidAmerican Funding | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 35 | 3 | 53 | 8 |
NV Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 893 | 762 | 1,581 | 1,347 |
Operating revenue | 899 | 767 | 1,592 | 1,358 |
NV Energy | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 899 | 767 | 1,592 | 1,358 |
NV Energy | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 6 | 5 | 11 | 11 |
Northern Powergrid | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 316 | 251 | 600 | 524 |
Operating revenue | 345 | 280 | 660 | 580 |
Northern Powergrid | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 345 | 280 | 660 | 580 |
Northern Powergrid | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 29 | 29 | 60 | 56 |
BHE Pipeline Group | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 809 | 689 | 1,833 | 1,760 |
Operating revenue | 856 | 706 | 1,891 | 1,799 |
BHE Pipeline Group | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 856 | 706 | 1,891 | 1,799 |
BHE Pipeline Group | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 47 | 17 | 58 | 39 |
BHE Transmission | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 187 | 185 | 370 | 365 |
Operating revenue | 183 | 182 | 366 | 362 |
BHE Transmission | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 183 | 182 | 366 | 362 |
BHE Transmission | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | (4) | (3) | (4) | (3) |
BHE Renewables | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 262 | 239 | 431 | 405 |
BHE Renewables | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 294 | 267 | 461 | 457 |
BHE Renewables | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 32 | 28 | 30 | 52 |
BHE and Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 121 | 97 | 213 | 243 |
Operating revenue | 152 | 108 | 280 | 294 |
BHE and Other | Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 152 | 108 | 280 | 294 |
BHE and Other | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 31 | 11 | 67 | 51 |
Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,989 | 3,587 | 8,104 | 7,681 |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2,591 | 2,411 | 4,847 | 4,519 |
Regulated | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 164 | 109 | 552 | 607 |
Regulated | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 187 | 108 | 423 | 301 |
Regulated | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 522 | 495 | 1,031 | 991 |
Regulated | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 497 | 433 | 1,201 | 1,207 |
Regulated | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 31 | 50 | 56 |
Regulated | PAC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,295 | 1,286 | 2,587 | 2,515 |
Regulated | PAC | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,167 | 1,188 | 2,352 | 2,333 |
Regulated | PAC | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | PAC | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 55 | 30 | 110 | 66 |
Regulated | PAC | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 45 | 37 | 77 | 62 |
Regulated | PAC | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | PAC | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 31 | 48 | 54 |
Regulated | MidAmerican Funding | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 862 | 689 | 1,847 | 1,741 |
Regulated | MidAmerican Funding | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 594 | 516 | 1,066 | 968 |
Regulated | MidAmerican Funding | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 136 | 89 | 473 | 549 |
Regulated | MidAmerican Funding | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 119 | 69 | 280 | 194 |
Regulated | MidAmerican Funding | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 13 | 15 | 28 | 30 |
Regulated | MidAmerican Funding | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | MidAmerican Funding | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | NV Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 892 | 761 | 1,580 | 1,346 |
Regulated | NV Energy | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 831 | 708 | 1,430 | 1,219 |
Regulated | NV Energy | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 20 | 79 | 58 |
Regulated | NV Energy | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 15 | 10 | 35 | 25 |
Regulated | NV Energy | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 18 | 22 | 35 | 43 |
Regulated | NV Energy | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | NV Energy | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 1 | 1 | 1 |
Regulated | Northern Powergrid | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 274 | 243 | 543 | 506 |
Regulated | Northern Powergrid | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 274 | 243 | 543 | 506 |
Regulated | Northern Powergrid | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | Northern Powergrid | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 524 | 457 | 1,270 | 1,291 |
Regulated | BHE Pipeline Group | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 17 |
Regulated | BHE Pipeline Group | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Pipeline Group | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 524 | 458 | 1,269 | 1,273 |
Regulated | BHE Pipeline Group | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | (1) | 1 | 1 |
Regulated | BHE Transmission | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 172 | 178 | 348 | 350 |
Regulated | BHE Transmission | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 172 | 178 | 348 | 350 |
Regulated | BHE Transmission | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Transmission | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE Renewables | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE and Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (30) | (27) | (71) | (68) |
Regulated | BHE and Other | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (1) | (1) | (1) | (1) |
Regulated | BHE and Other | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE and Other | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (2) | (1) | (2) | (1) |
Regulated | BHE and Other | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Regulated | BHE and Other | Interstate pipeline | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | (27) | (25) | (68) | (66) |
Regulated | BHE and Other | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Nonregulated | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 756 | 612 | 1,360 | 1,230 |
Nonregulated | PAC | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
Nonregulated | MidAmerican Funding | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 1 | 2 | 11 |
Nonregulated | NV Energy | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 1 | 1 |
Nonregulated | Northern Powergrid | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 42 | 8 | 57 | 18 |
Nonregulated | BHE Pipeline Group | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 285 | 232 | 563 | 469 |
Nonregulated | BHE Transmission | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 15 | 7 | 22 | 15 |
Nonregulated | BHE Renewables | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 262 | 239 | 431 | 405 |
Nonregulated | BHE and Other | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 151 | $ 124 | $ 284 | $ 311 |
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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 4,745 | $ 4,199 | $ 9,464 | $ 8,911 |
Operating revenue | 6,612 | 6,064 | 12,642 | 12,145 |
Real estate | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,672 | 1,763 | 2,879 | 2,995 |
Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 195 | 102 | 299 | 239 |
HomeServices | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,672 | 1,763 | 2,879 | 2,995 |
HomeServices | Real estate | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,561 | 1,593 | 2,673 | 2,633 |
Operating revenue | 1,672 | 1,763 | 2,879 | 2,995 |
HomeServices | Brokerage | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,544 | 1,569 | 2,636 | 2,591 |
HomeServices | Franchise | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 17 | 24 | 37 | 42 |
HomeServices | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 111 | $ 170 | $ 206 | $ 362 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - BHE - Remaining Performance Obligation Total (Details) $ in Millions | Jun. 30, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 26,245 |
BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 25,202 |
BHE Transmission | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 1,043 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 4,019 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,324 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | BHE Transmission | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 695 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 22,226 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 21,878 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | BHE Transmission | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 348 |
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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 4,745 | $ 4,199 | $ 9,464 | $ 8,911 |
Operating revenue | 6,612 | 6,064 | 12,642 | 12,145 |
Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 195 | 102 | 299 | 239 |
Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,989 | 3,587 | 8,104 | 7,681 |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2,591 | 2,411 | 4,847 | 4,519 |
Regulated | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 187 | 108 | 423 | 301 |
Regulated | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 522 | 495 | 1,031 | 991 |
Regulated | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 31 | 50 | 56 |
PAC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1,314 | 1,298 | 2,611 | 2,540 |
PAC | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 19 | 12 | 24 | 25 |
PAC | Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,295 | 1,286 | 2,587 | 2,515 |
PAC | Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1,167 | 1,188 | 2,352 | 2,333 |
PAC | Regulated | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 55 | 30 | 110 | 66 |
PAC | Regulated | Transmission and distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 45 | 37 | 77 | 62 |
PAC | Regulated | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 31 | 48 | 54 |
PAC | Regulated | Residential | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 417 | 429 | 922 | 912 |
PAC | Regulated | Commercial | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 393 | 393 | 763 | 752 |
PAC | Regulated | Industrial | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 277 | 282 | 550 | 553 |
PAC | Regulated | Other retail | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 80 | $ 84 | $ 117 | $ 116 |
Revenue from Contracts with C_7
Revenue from Contracts with Customers - MEC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 4,745 | $ 4,199 | $ 9,464 | $ 8,911 |
Operating revenue | 6,612 | 6,064 | 12,642 | 12,145 |
Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 195 | 102 | 299 | 239 |
MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 862 | 690 | 1,849 | 1,752 |
Operating revenue | 897 | 693 | 1,902 | 1,760 |
MEC | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 2 | 11 | |
MEC | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 35 | 3 | 53 | 8 |
Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,989 | 3,587 | 8,104 | 7,681 |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2,591 | 2,411 | 4,847 | 4,519 |
Regulated | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 164 | 109 | 552 | 607 |
Regulated | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 187 | 108 | 423 | 301 |
Regulated | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 31 | 50 | 56 |
Regulated | MEC | Retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 730 | 605 | 1,539 | 1,517 |
Regulated | MEC | Retail | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 272 | 229 | 665 | 698 |
Regulated | MEC | Retail | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 122 | 98 | 284 | 298 |
Regulated | MEC | Retail | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 286 | 233 | 493 | 435 |
Regulated | MEC | Retail | Natural gas transportation services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 9 | 9 | 23 | 19 |
Regulated | MEC | Retail | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 41 | 36 | 74 | 67 |
Regulated | MEC | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 118 | 69 | 280 | 194 |
Regulated | MEC | Multi-value transmission projects | Multi-value transmission projects | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 13 | 15 | 28 | 30 |
Nonregulated | MEC | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | |||
Regulated electric | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 725 | 586 | 1,333 | 1,131 |
Regulated electric | Regulated | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 691 | 583 | 1,282 | 1,124 |
Operating revenue | 725 | 586 | 1,333 | 1,131 |
Regulated electric | Regulated | MEC | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 594 | 516 | 1,066 | 968 |
Regulated electric | Regulated | MEC | Retail electric | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 185 | 170 | 353 | 331 |
Regulated electric | Regulated | MEC | Retail electric | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 91 | 80 | 165 | 151 |
Regulated electric | Regulated | MEC | Retail electric | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 277 | 230 | 475 | 420 |
Regulated electric | Regulated | MEC | Retail electric | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 41 | 36 | 73 | 66 |
Regulated electric | Regulated | MEC | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 84 | 52 | 188 | 126 |
Regulated electric | Regulated | MEC | Multi-value transmission projects | Multi-value transmission projects | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 13 | 15 | 28 | 30 |
Regulated electric | Regulated | MEC | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 34 | 3 | 51 | 7 |
Regulated natural gas | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 171 | 106 | 567 | 618 |
Regulated natural gas | Regulated | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 170 | 106 | 565 | 617 |
Operating revenue | 171 | 106 | 567 | 618 |
Regulated natural gas | Regulated | MEC | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 136 | 89 | 473 | 549 |
Regulated natural gas | Regulated | MEC | Retail gas | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 87 | 59 | 312 | 367 |
Regulated natural gas | Regulated | MEC | Retail gas | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 31 | 18 | 119 | 147 |
Regulated natural gas | Regulated | MEC | Retail gas | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 9 | 3 | 18 | 15 |
Regulated natural gas | Regulated | MEC | Retail gas | Natural gas transportation services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 9 | 9 | 23 | 19 |
Regulated natural gas | Regulated | MEC | Retail gas | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 1 | 1 |
Regulated natural gas | Regulated | MEC | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 34 | 17 | 92 | 68 |
Regulated natural gas | Regulated | MEC | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1 | 0 | 2 | 1 |
Other | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 1 | 1 | 2 | 11 |
Other | Nonregulated | MEC | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 2 | 11 |
Operating revenue | 1 | 1 | 2 | 11 |
Other | Nonregulated | MEC | Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 2 | 11 |
Other | Nonregulated | MEC | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Revenue from Contracts with C_8
Revenue from Contracts with Customers - LLC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 4,745 | $ 4,199 | $ 9,464 | $ 8,911 |
Nonregulated | Nonregulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 756 | $ 612 | $ 1,360 | $ 1,230 |
Revenue from Contracts with C_9
Revenue from Contracts with Customers - NPC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 4,745 | $ 4,199 | $ 9,464 | $ 8,911 |
Operating revenue | 6,612 | 6,064 | 12,642 | 12,145 |
Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 195 | 102 | 299 | 239 |
Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,989 | 3,587 | 8,104 | 7,681 |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2,591 | 2,411 | 4,847 | 4,519 |
NPC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 639 | 559 | 1,054 | 929 |
NPC | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 5 | 5 | 11 | 11 |
NPC | Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 634 | 554 | 1,043 | 918 |
NPC | Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 616 | 539 | 1,009 | 889 |
NPC | Regulated | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 18 | 15 | 34 | 29 |
NPC | Customer Revenue | Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 611 | 534 | 999 | 879 |
NPC | Customer Revenue | Regulated | Retail electric | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 353 | 326 | 566 | 521 |
NPC | Customer Revenue | Regulated | Retail electric | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 131 | 110 | 226 | 194 |
NPC | Customer Revenue | Regulated | Retail electric | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 124 | 95 | 203 | 158 |
NPC | Customer Revenue | Regulated | Retail electric | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3 | 3 | 4 | 6 |
NPC | Distribution only service | Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 5 | $ 5 | $ 10 | $ 10 |
Revenue from Contracts with _10
Revenue from Contracts with Customers - SPPC (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 4,745 | $ 4,199 | $ 9,464 | $ 8,911 |
Operating revenue | 6,612 | 6,064 | 12,642 | 12,145 |
Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 195 | 102 | 299 | 239 |
Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3,989 | 3,587 | 8,104 | 7,681 |
Regulated | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 2,591 | 2,411 | 4,847 | 4,519 |
Regulated | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 164 | 109 | 552 | 607 |
SPPC | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 258 | 209 | 537 | 429 |
SPPC | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 0 | 1 | 2 | 2 |
SPPC | Regulated electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 230 | 189 | 457 | 370 |
SPPC | Regulated electric | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 0 | 1 | 1 | 1 |
SPPC | Regulated natural gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 28 | 20 | 80 | 59 |
SPPC | Regulated natural gas | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Operating revenue | 0 | 0 | 1 | 1 |
SPPC | Regulated | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 258 | 208 | 535 | 427 |
SPPC | Regulated | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 14 | 12 | 35 | 28 |
SPPC | Regulated | Regulated electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 230 | 188 | 456 | 369 |
SPPC | Regulated | Regulated electric | Wholesale, transmission and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 14 | 12 | 35 | 28 |
SPPC | Regulated | Regulated natural gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 20 | 79 | 58 |
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 | 244 | 196 | 500 | 399 |
SPPC | Regulated | Total retail | Regulated electric | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 216 | 176 | 421 | 341 |
SPPC | Regulated | Total retail | Regulated natural gas | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 20 | 79 | 58 |
SPPC | Regulated | Customer Revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 243 | 195 | 497 | 397 |
SPPC | Regulated | Customer Revenue | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 98 | 81 | 213 | 176 |
SPPC | Regulated | Customer Revenue | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 88 | 69 | 172 | 132 |
SPPC | Regulated | Customer Revenue | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 56 | 44 | 109 | 86 |
SPPC | Regulated | Customer Revenue | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 3 | 3 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 215 | 175 | 418 | 339 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 79 | 68 | 162 | 138 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 82 | 64 | 151 | 117 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 53 | 42 | 102 | 81 |
SPPC | Regulated | Customer Revenue | Regulated electric | Retail electric | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 3 | 3 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 28 | 20 | 79 | 58 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 19 | 13 | 51 | 38 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 6 | 5 | 21 | 15 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 3 | 2 | 7 | 5 |
SPPC | Regulated | Customer Revenue | Regulated natural gas | Retail gas | Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 0 |
SPPC | Regulated | Distribution only service | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 3 | 2 |
SPPC | Regulated | Distribution only service | Regulated electric | Retail electric | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | 1 | 1 | 3 | 2 |
SPPC | Regulated | Distribution only service | Regulated natural gas | Retail gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Customer Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Revenue from Contracts with _11
Revenue from Contracts with Customers - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | $ 4,745 | $ 4,199 | $ 9,464 | $ 8,911 |
Operating revenue | 6,612 | 6,064 | 12,642 | 12,145 |
EEGH | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 502 | 436 | 990 | 922 |
Operating revenue | 504 | 437 | 986 | 923 |
Regulated | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 3,989 | 3,587 | 8,104 | 7,681 |
Regulated | EEGH | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 286 | 246 | 571 | 542 |
Nonregulated | EEGH | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 216 | 190 | 419 | 380 |
Gas transportation and storage | Regulated | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 164 | 109 | 552 | 607 |
Gas transportation and storage | Regulated | EEGH | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 286 | 246 | 571 | 525 |
Wholesale | Regulated | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 187 | 108 | 423 | 301 |
Wholesale | Regulated | EEGH | ||||
Revenue from External Customer [Line Items] | ||||
Total Customer Revenue | 0 | 0 | 0 | 17 |
Other revenue | ||||
Revenue from External Customer [Line Items] | ||||
Operating revenue | 195 | 102 | 299 | 239 |
Other revenue | EEGH | ||||
Revenue from External Customer [Line Items] | ||||
Operating revenue | $ 2 | $ 1 | $ (4) | $ 1 |
Revenue from Contracts with _12
Revenue from Contracts with Customers - EEGH - Remaining Performance Obligation (Details) $ in Millions | Jun. 30, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 26,245 |
EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 18,837 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 4,019 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 2,228 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 22,226 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 16,609 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period |
BHE Shareholders' Equity (Detai
BHE Shareholders' Equity (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | May 31, 2022 | Apr. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2022 | |
Class of Stock [Line Items] | |||||
Stock redeemed | $ 800 | $ 800 | |||
Common stock purchases (in shares) | 740,961 | ||||
Common stock purchases | $ 870 | $ 870 | $ 870 | ||
Redeemable Preferred Stock | Natural Gas Transmission and Storage | |||||
Class of Stock [Line Items] | |||||
Stock redeemed (in shares) | 800,006 | ||||
Preferred Stock, dividend rate | 4% | 4% | |||
Stock redeemed | $ 800 |
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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | $ 50,424 | $ 47,051 | $ 50,589 | $ 46,977 |
Other comprehensive income (loss) | (430) | 84 | (448) | 196 |
Balance | 51,191 | 49,365 | 51,191 | 49,365 |
Accumulated Other Comprehensive (Loss) Income, Net | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | (1,358) | (1,440) | (1,340) | (1,552) |
Other comprehensive income (loss) | (430) | 80 | (448) | 192 |
Balance | (1,788) | (1,360) | (1,788) | (1,360) |
Unrecognized Amounts on Retirement Benefits | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | (318) | (492) | ||
Other comprehensive income (loss) | 40 | 22 | ||
Balance | (278) | (470) | (278) | (470) |
Foreign Currency Translation Adjustment | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | (1,086) | (1,062) | ||
Other comprehensive income (loss) | (591) | 159 | ||
Balance | (1,677) | (903) | (1,677) | (903) |
Unrealized Losses on Cash Flow Hedges | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | 59 | (8) | ||
Other comprehensive income (loss) | 103 | 15 | ||
Balance | 162 | 7 | 162 | 7 |
Noncontrolling Interest | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance | (5) | (10) | ||
Other comprehensive income (loss) | 0 | 4 | ||
Balance | $ (5) | $ (6) | $ (5) | $ (6) |
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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | $ 50,424 | $ 47,051 | $ 50,589 | $ 46,977 |
Other comprehensive income (loss) | (430) | 84 | (448) | 196 |
Balance | 51,191 | 49,365 | 51,191 | 49,365 |
EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | 7,590 | 7,078 | 7,494 | 6,995 |
Other comprehensive income (loss) | (1) | 5 | 4 | 17 |
Balance | 7,717 | 7,398 | 7,717 | 7,398 |
Accumulated Other Comprehensive (Loss) Income, Net | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (1,358) | (1,440) | (1,340) | (1,552) |
Other comprehensive income (loss) | (430) | 80 | (448) | 192 |
Balance | (1,788) | (1,360) | (1,788) | (1,360) |
Accumulated Other Comprehensive (Loss) Income, Net | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (38) | (45) | (43) | (53) |
Other comprehensive income (loss) | (1) | 5 | 4 | 13 |
Balance | (39) | (40) | (39) | (40) |
Unrecognized Amounts on Retirement Benefits | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (318) | (492) | ||
Other comprehensive income (loss) | 40 | 22 | ||
Balance | (278) | (470) | (278) | (470) |
Unrecognized Amounts on Retirement Benefits | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (6) | (12) | ||
Other comprehensive income (loss) | 1 | 4 | ||
Balance | (5) | (8) | (5) | (8) |
Unrealized Losses on Cash Flow Hedges | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | 59 | (8) | ||
Other comprehensive income (loss) | 103 | 15 | ||
Balance | 162 | 7 | 162 | 7 |
Unrealized Losses on Cash Flow Hedges | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (42) | (51) | ||
Other comprehensive income (loss) | 3 | 13 | ||
Balance | (39) | (38) | (39) | (38) |
Noncontrolling Interest | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (5) | (10) | ||
Other comprehensive income (loss) | 0 | 4 | ||
Balance | (5) | (6) | (5) | (6) |
Noncontrolling Interest | EEGH | ||||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Balance | (5) | (10) | ||
Other comprehensive income (loss) | 0 | 4 | ||
Balance | $ (5) | $ (6) | $ (5) | $ (6) |
Segment Information - BHE (Deta
Segment Information - BHE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Segment Reporting Information [Line Items] | |||||
Operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 | |
Depreciation and amortization | 1,059 | 947 | 2,081 | 1,874 | |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 | |
Interest expense | 550 | 532 | 1,082 | 1,062 | |
Capitalized interest | 18 | 14 | 35 | 28 | |
Allowance for equity funds | 42 | 30 | 80 | 56 | |
Interest and dividend income | 30 | 26 | 53 | 47 | |
Gains on marketable securities, net | 2,528 | 1,966 | 1,271 | 848 | |
Other, net | (26) | 48 | (21) | 56 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 | |
Total earnings on common shares | 2,884 | 2,244 | 2,739 | 2,210 | |
Assets | 135,295 | 135,295 | $ 132,065 | ||
PAC | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1,314 | 1,298 | 2,611 | 2,540 | |
Depreciation and amortization | 279 | 275 | 559 | 539 | |
Operating income | 158 | 283 | 374 | 517 | |
Interest expense | 107 | 105 | 213 | 212 | |
Total earnings on common shares | 83 | 226 | 213 | 395 | |
Assets | 28,596 | 28,596 | 27,615 | ||
MidAmerican Funding | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 897 | 693 | 1,902 | 1,760 | |
Depreciation and amortization | 277 | 209 | 527 | 416 | |
Operating income | 90 | 103 | 190 | 151 | |
Interest expense | 83 | 78 | 165 | 156 | |
Total earnings on common shares | 204 | 211 | 445 | 355 | |
Assets | 25,733 | 25,733 | 25,352 | ||
NV Energy | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 899 | 767 | 1,592 | 1,358 | |
Depreciation and amortization | 139 | 137 | 279 | 273 | |
Operating income | 140 | 145 | 202 | 215 | |
Interest expense | 52 | 51 | 103 | 103 | |
Total earnings on common shares | 93 | 100 | 122 | 134 | |
Assets | 15,905 | 15,905 | 15,239 | ||
Northern Powergrid | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 345 | 280 | 660 | 580 | |
Depreciation and amortization | 100 | 73 | 180 | 144 | |
Operating income | 110 | 126 | 269 | 277 | |
Interest expense | 34 | 32 | 66 | 65 | |
Total earnings on common shares | 71 | (25) | 182 | 79 | |
Assets | 9,343 | 9,343 | 9,326 | ||
BHE Pipeline Group | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 856 | 706 | 1,891 | 1,799 | |
Depreciation and amortization | 125 | 121 | 256 | 239 | |
Operating income | 352 | 245 | 890 | 863 | |
Interest expense | 36 | 40 | 73 | 78 | |
Total earnings on common shares | 199 | 100 | 521 | 483 | |
Assets | 20,691 | 20,691 | 20,434 | ||
BHE Transmission | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 183 | 182 | 366 | 362 | |
Depreciation and amortization | 60 | 60 | 118 | 118 | |
Operating income | 84 | 85 | 167 | 166 | |
Interest expense | 38 | 40 | 76 | 78 | |
Total earnings on common shares | 62 | 60 | 124 | 119 | |
Assets | 9,441 | 9,441 | 9,476 | ||
BHE Renewables | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 294 | 267 | 461 | 457 | |
Depreciation and amortization | 66 | 61 | 131 | 121 | |
Operating income | 134 | 97 | 132 | 130 | |
Interest expense | 45 | 40 | 86 | 80 | |
Total earnings on common shares | 249 | 181 | 353 | 197 | |
Assets | 11,853 | 11,853 | 11,829 | ||
HomeServices | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1,672 | 1,763 | 2,879 | 2,995 | |
Depreciation and amortization | 14 | 12 | 29 | 23 | |
Operating income | 117 | 179 | 145 | 291 | |
Interest expense | 2 | 1 | 3 | 2 | |
Total earnings on common shares | 84 | 135 | 105 | 219 | |
Assets | 4,115 | 4,115 | 4,574 | ||
BHE and Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 152 | 108 | 280 | 294 | |
Depreciation and amortization | (1) | (1) | 2 | 1 | |
Operating income | 22 | (55) | 74 | (69) | |
Interest expense | 153 | 145 | 297 | 288 | |
Total earnings on common shares | 1,839 | 1,256 | 674 | 229 | |
Assets | 9,618 | 9,618 | $ 8,220 | ||
U.S. | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 6,087 | 5,604 | 11,621 | 11,201 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,117 | 2,611 | 2,463 | 2,188 | |
United Kingdom | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 345 | 280 | 660 | 580 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 87 | 104 | 226 | 236 | |
Canada | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 180 | 180 | 361 | 357 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 46 | 46 | 92 | 85 | |
Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 0 | 0 | 0 | 7 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | $ (1) | $ (1) | $ (2) | $ 5 |
Segment Information - BHE - Goo
Segment Information - BHE - Goodwill (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Goodwill [Roll Forward] | |
Beginning balance | $ 11,650 |
Acquisitions | 8 |
Foreign currency translation | (99) |
Ending balance | 11,559 |
PAC | |
Goodwill [Roll Forward] | |
Beginning balance | 1,129 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Ending balance | 1,129 |
MidAmerican Funding | |
Goodwill [Roll Forward] | |
Beginning balance | 2,102 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Ending balance | 2,102 |
NV Energy | |
Goodwill [Roll Forward] | |
Beginning balance | 2,369 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Ending balance | 2,369 |
Northern Powergrid | |
Goodwill [Roll Forward] | |
Beginning balance | 992 |
Acquisitions | 0 |
Foreign currency translation | (70) |
Ending balance | 922 |
BHE Pipeline Group | |
Goodwill [Roll Forward] | |
Beginning balance | 1,814 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Ending balance | 1,814 |
BHE Transmission | |
Goodwill [Roll Forward] | |
Beginning balance | 1,563 |
Acquisitions | 0 |
Foreign currency translation | (29) |
Ending balance | 1,534 |
BHE Renewables | |
Goodwill [Roll Forward] | |
Beginning balance | 95 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Ending balance | 95 |
HomeServices | |
Goodwill [Roll Forward] | |
Beginning balance | 1,586 |
Acquisitions | 8 |
Foreign currency translation | 0 |
Ending balance | $ 1,594 |
Segment Information - MEC (Deta
Segment Information - MEC (Details) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) reportableSegment operatingSegment | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | operatingSegment | 8 | ||||
Operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 | |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 | |
Interest expense | (550) | (532) | (1,082) | (1,062) | |
Allowance for equity funds | 42 | 30 | 80 | 56 | |
Other, net | (26) | 48 | (21) | 56 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 | |
Assets | 135,295 | $ 135,295 | $ 132,065 | ||
MEC | |||||
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | reportableSegment | 2 | ||||
Operating revenue | 897 | 693 | $ 1,902 | 1,760 | |
Operating income | 90 | 103 | 190 | 151 | |
Interest expense | (78) | (74) | (156) | (148) | |
Allowance for borrowed funds | 5 | 2 | 9 | 4 | |
Allowance for equity funds | 14 | 8 | 29 | 14 | |
Other, net | (12) | 15 | (15) | 26 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 19 | 54 | 57 | 47 | |
Assets | 23,635 | 23,635 | 23,257 | ||
MEC | Regulated electric | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 725 | 586 | 1,333 | 1,131 | |
Operating income | 87 | 103 | 138 | 112 | |
Assets | 21,967 | 21,967 | 21,385 | ||
MEC | Regulated natural gas | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 171 | 106 | 567 | 618 | |
Operating income | 3 | 0 | 52 | 39 | |
Assets | 1,667 | 1,667 | 1,871 | ||
MEC | Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1 | $ 1 | 2 | $ 11 | |
Assets | $ 1 | $ 1 | $ 1 |
Segment Information - LLC (Deta
Segment Information - LLC (Details) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) reportableSegment operatingSegment | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | operatingSegment | 8 | ||||
Operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 | |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 | |
Interest expense | (550) | (532) | (1,082) | (1,062) | |
Allowance for equity funds | 42 | 30 | 80 | 56 | |
Other, net | (26) | 48 | (21) | 56 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 | |
Assets | 135,295 | $ 135,295 | $ 132,065 | ||
MidAmerican Funding, LLC | |||||
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | reportableSegment | 2 | ||||
Operating revenue | 897 | 693 | $ 1,902 | 1,760 | |
Operating income | 90 | 103 | 190 | 151 | |
Interest expense | (83) | (78) | (165) | (156) | |
Allowance for borrowed funds | 5 | 2 | 9 | 4 | |
Allowance for equity funds | 14 | 8 | 29 | 14 | |
Other, net | (10) | 16 | (14) | 26 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 16 | 51 | 49 | 39 | |
Assets | 24,911 | 24,911 | 24,531 | ||
MidAmerican Funding, LLC | Regulated electric | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 725 | 586 | 1,333 | 1,131 | |
Operating income | 87 | 103 | 138 | 112 | |
Assets | 23,158 | 23,158 | 22,576 | ||
MidAmerican Funding, LLC | Regulated natural gas | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 171 | 106 | 567 | 618 | |
Operating income | 3 | 0 | 52 | 39 | |
Assets | 1,746 | 1,746 | 1,950 | ||
MidAmerican Funding, LLC | Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenue | 1 | $ 1 | 2 | $ 11 | |
Assets | $ 7 | $ 7 | $ 5 |
Segment Information - SPPC (Det
Segment Information - SPPC (Details) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) reportableSegment operatingSegment | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | operatingSegment | 8 | ||||
Operating revenue | $ 6,612 | $ 6,064 | $ 12,642 | $ 12,145 | |
Operating income | 1,207 | 1,208 | 2,443 | 2,541 | |
Interest expense | (550) | (532) | (1,082) | (1,062) | |
Allowance for equity funds | 42 | 30 | 80 | 56 | |
Interest and dividend income | 30 | 26 | 53 | 47 | |
Other, net | (26) | 48 | (21) | 56 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 3,249 | 2,760 | 2,779 | 2,514 | |
Assets | 135,295 | $ 135,295 | $ 132,065 | ||
SPPC | |||||
Segment Reporting Information [Line Items] | |||||
Number of reportable segments | reportableSegment | 2 | ||||
Operating revenue | 258 | 209 | $ 537 | 429 | |
Operating income | 23 | 25 | 61 | 64 | |
Interest expense | (14) | (13) | (27) | (27) | |
Capitalized interest | 0 | 1 | 1 | 1 | |
Allowance for equity funds | 2 | 2 | 4 | 3 | |
Interest and dividend income | 4 | 1 | 7 | 3 | |
Other, net | 0 | 2 | 2 | 6 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 15 | 18 | 48 | 50 | |
Assets | 4,415 | 4,415 | 4,223 | ||
SPPC | Regulated electric | |||||
Segment Reporting Information [Line Items] | |||||
Regulated electric | 230 | 189 | 457 | 370 | |
Operating revenue | 230 | 189 | 457 | 370 | |
Operating income | 19 | 21 | 49 | 52 | |
Assets | 3,995 | 3,995 | 3,829 | ||
SPPC | Regulated natural gas | |||||
Segment Reporting Information [Line Items] | |||||
Regulated natural gas | 28 | 20 | 80 | 59 | |
Operating revenue | 28 | 20 | 80 | 59 | |
Operating income | 4 | $ 4 | 12 | $ 12 | |
Assets | 385 | 385 | 365 | ||
SPPC | Other | |||||
Segment Reporting Information [Line Items] | |||||
Assets | $ 35 | $ 35 | $ 29 |